When he first saw the Nasdaq market data from the past few days, especially when he saw the stock price of Huangyi Company, which had just been newly listed, Gu Kun was really shocked.
He was hanging out here in Xiangjiang, and it was already early April before he knew it. Counting the days, it had been more than three months since the Nasdaq fell back to its highest level, and more than 70 trading days had passed.
Before Christmas last year, the Nasdaq index's instantaneous high was close to 4,700 points. However, it plummeted by more than 700 points the day before Christmas Eve, directly breaking through the 4,000-point integer level again.
Subsequently, it fluctuated downward for 70 trading days, with an average of as little as 100 points per week and as much as 200 or 300 points. Only when the three thousand points and two thousand points reached the round number mark, each of them struggled for a week or two.
All in all, before April Fool's Day, the Nasdaq index finally fell below 2,000 points after struggling.
Historically, the sign of "completely entering the Internet winter" was "the Nasdaq index always hovering around 1,000 points" that lasted for about two or three years.
If you calculate it this way, it is now just over halfway down. It has already lost more than half of its price of more than 4,000 points, but there is still room for at least a halving in the future.
Huang Yi's Ding Sanshi was forced to go public at this time, and the situation was indeed much more severe than in another time and space, when it was listed at the end of June. In the original history, the Nasdaq had to break 2,000 in the summer period in July and August.
It's time.
"The underwriting price of the brokerage was 3.5 yuan, and the actual opening price on the first day of listing was 2.9 yuan. This is too miserable. The Wall Street underwriting brokerage directly lost 60 cents per share. How could it be done? How could it be so outrageous?"
Looking at these specific figures, Gu Kun was also a little surprised.
2 yuan 9 was just the opening price of the day, and it finally closed at 2 yuan 6 cents and 8 cents. Today is April 3. After the two trading days and the calm weekend, I struggled a little, and it is currently 2 yuan 7.
Mao 5.
According to this trend, Gu Kun's envisioned plan of "buying the bottom when Huang Yi drops to 70 or 80 cents per share" may be realized a lot of time in advance.
Gu Kun made a special call to Liang Jinsong to ask for his opinion and talk about "why Huang Yi fell so badly and directly broke the issue price."
Liang Jinsong didn't know the history, but since Gu Kun insisted on saying that the price was low, he could only help Gu Kun analyze the reasons.
After discussing for a while, Liang Jinsong came up with an afterthought that Gu Kun could accept: "It should be considered underestimated, right? It may be that there have been too many bleeding listed companies in the recent intensive IPO, and the blood in the secondary market has been drained.
, even if you want to sell it, you can’t sell it, just fall below the issue price.”
Gu Kun felt that this was indeed reasonable.
Although Huang Yi was originally listed three months after the Nasdaq began to decline, this time it was also listed three months after the Nasdaq began to decline. It seems that the time gap has not changed.
However, because it was three months ahead of schedule, many companies that did not need to be "bleeding listed" have also become "bleeding listed", so companies that are trying to grab bleeding listing funds have gathered together.
For example, Peter Thiel's PAYPAL is a typical example of "it was listed without bloodshed in the previous life, but it became a bloodshed listing in this life."
It is almost common sense in the stock market that a large number of IPOs will lead to a shortage of funds.
Didn’t you know that the Future of Life was going to go public in 2012? As a result, several small and medium-sized start-up companies that were originally going to go public at that time have moved forward or postponed their plans. This is because they are afraid that the market will be drained of liquidity.
There is so much hot money, and when I went public, both the underwriting price and the opening price were too miserable.
Some small companies that are very hard-nosed do not believe in this evil, and they have become negative examples.
Later, the reason why Ali Baba was listed on Nasdaq at the end of 2014 was also adjusted. It was because of the lessons learned from those negative textbooks, so it was postponed slightly so that the capital pool could accumulate more water. Ma Feng
The original plan was to be a few months earlier.
It is a pity that those are the experiences summed up in the following ten years. In the Nasdaq market in 2000, neither entrepreneurs nor investors have quite summarized the rules in this regard.
What's more, even if Ding Sanshi comes to the conclusion, he has no other choice. If he waits any longer, he might be completely dead.
While Gu Kun was sighing with emotion, he couldn't help but make a calculation in his mind: "It's true that everyone has different personalities. I remember that in the previous life, Ding Sanshi seemed to have done it briefly when the stock price of Huangyi suddenly jumped to more than ten dollars per share.
In a few days, he became the richest man in Mainland China.
The current peak value is only 2 yuan and 7 cents, which is less than 20% of the previous peak value of 13 or 4 yuan. In other words, the historical high of his net worth is only 20% of that of the richest man in mainland China."
The young man who originally had the chance to become the richest man in the mainland was pushed to the peak of his life and could only become 20% of the richest man. Ding Sanshi had to pay the price for his eloquent words.
It's just that the price currently seems to be only heavenly punishment, and Gu Kun didn't even take action against him.
To be entrusted by others is to be loyal to others.
After all, Liang Jinsong had accepted Gu Kun's commission for several years. Although he wanted to retire after this market wave ended, he had seen Gu Kun caring about Huang Yi's affairs so many times.
I couldn't help but take the initiative to help Gu Kun with advice:
"Gu Sheng, you have always wanted to acquire some shares of Huang Yi and control it, right? But you think 2.7 yuan is not low enough, and you want to wait for it to slowly fall before taking action? I think that if you are really reasonable,
I feel that Huang Yi can still fall. Taking advantage of the current bad environment, I can short-sell and spread bad news, so as to eliminate all the losses that should fall in the future. Then I won’t have to wait too long.”
"Short selling individual stocks?" Gu Kun was stunned for a moment, and then took a slight breath.
This is to take advantage of people's illness and kill them, and it will lead to serious enemies.
To be honest, Gu Kun felt that his previous thoughts were indeed too dependent on the foresight of the reborn.
Because he knows history and knows that even if he does nothing and allows history to develop naturally, Huang Yi can naturally fall to 50 or 60 cents at the lowest point of the Internet winter.
Therefore, Gu Kun developed path dependence. He never thought about being a bad person and attacking others. He always wanted to be harmless and wait for the other person to fall and be punished by God.
Liang Jinsong didn't know history, but his thinking was much broader than Gu Kun. Seeing that Gu Kun had been caring for so long and still didn't make any move, he couldn't help but directly persuade his boss to take ruthless measures.
The operation of short selling is of course not limited to shorting the market, nor is it limited to the previous "index futures contract" trick in the Hong Kong stock market.
Individual stocks can also be shorted. There have been some incidents of short selling of Nasdaq concept stocks in later generations. Many of the companies that were shorted were themselves financially despicable, and it can even be said that they deserved their punishment.
However, short selling will cause the assets of Chinese shareholders to shrink. If a company has relatively large amounts of mainland Chinese capital in its early investment, but Gu Kun goes short, it would be a bit unjust and could easily damage Gu Kun's pro-China position.
No more mistakes.
Gu Kun had not cared about this issue before, so he had to temporarily ask Liang Jinsong for confirmation: "You still have to be cautious when selling short. I have to consider international relations - have you checked where Huang Yi's original money came from?"
Unexpectedly, Liang Jinsong actually did his homework in advance and answered casually without checking: "After checking, the early funds, more than 2 million yuan, were all contributed by Ding Sanshi and several other so-called co-founders/initial investors.
Keep your own money.
They managed to hold on to the more than 2 million yuan for nearly two years. Later, when the money was almost burned, Huang Yi had already established a good brand and joined the ranks of the three major portals in the country. Therefore, the subsequent money all belonged to Murdoch's News Corporation.
money, and there were no other outside investors before the IPO.”
"It turns out that the money was invested by that golden guy in Murdoch, so I don't have any psychological burden. Murdoch's News Group and Fox TV are veterans of the Black China." Gu Kun secretly regretted why he didn't have it so long ago.
I want to know this common sense.
As a reborn person, he has never had a good impression of Murdoch. Even before 2016, Gu Kun always knew that Murdoch was a bastard who liked to control public opinion and export evil ideologies.
potential.
And after 2016, even ordinary Chinese people who don't care about politics and public opinion will know that Fox is a mad dog TV station that provides a platform for some politicians who are like mad dogs and want to blame each other.
It is estimated that the pro-Oceanic band rhythm background of the Huang Yi family was also brought from the big investor Murdoch.
"What is the nature of Murdoch's equity? Is it a preferred stock? It shouldn't be sold immediately after listing, right? When can he run away?" Gu Kun asked quickly after sorting out his thoughts.
Liang Jinsong: "They are preference shares. According to the regulations of Nasdaq, those preference shares cannot be sold within six months after listing, and the ban can be lifted after half a year - this is similar to the principle of non-restricted sales in the mainland stock market.
As for the shares of Ding Sanshi and the founder team, they will be banned for a longer period of time."
The concept of "big and small differences" is generally familiar to investors. It is a mechanism set up to prevent founders and early investors from selling out and running away immediately after the stock is listed.
In Huang Yi's case, people like Ding Sanshi are the founders, so their equity is roughly equivalent to "Dafei", and the ban will be longer. Murdoch's shares are equivalent to "Xiaofei," and the ban will be lifted earlier.
Gu Kun immediately made a decision after hearing this: "Since it is possible to go short, if we want to do it, we will do it with a big ticket. If April 1st is postponed six months to October 1st - we must ensure that on October 1st this year
No., before Murdoch can sell the stock and run away, he shorts Huang Yi's equity. I want Murdoch's venture capital to lose money!
As for the reasons for short selling and short news, you can think about it slowly. Anyway, the rhythm must be consistent with this speed. If the slow move cannot be effective before October 1st, don’t consider the slow move.”
Gu Kun was prepared to find a time difference after Murdoch was tricked and escaped. Most of Huang Yi's Nasdaq tradable shares and Murdoch's part of the banned shares were released. He would find a way to take advantage of it, and then train and reform him. If he was not convinced,
The person dies.
Whoever dares to disobey Gu Ye in the future on the issue of rhythm will have to be trustworthy when he comes out to hang out, and he will get whatever he says.
As for bad news, Gu Kun believed he could find it.