The risk of brainless speculation in A shares

Mondo Finance Updated on 2024-01-30

After 3 consecutive trading days, Aoya shares fell 10% intraday on December 21. The stock price of Aoya shares rose sharply from 43.5 billion yuan to purchase computing equipment containing NVIDIA chips and enter the computing power leasing industry. Regardless of what the company's main business is currently doing, ignoring the company's performance losses, speculators moved when they heard the wind, and a large number of funds quickly entered the speculation, and the share price of Aoya shares was pulled by 3 "20cm" daily limits, until the regulator took action, and the company's stock price began to cool down.

In 2023, large models and generative AI will sweep all walks of life, and as an important underlying support for large models, computing power has also begun to be widely discussed by all walks of life. In this context, Aoya shares, which is mainly engaged in landscape design, disclosed an announcement of the "Computing Server Procurement Contract", so that the company can enter the computing power leasing industry and turn it into a fashionable high-tech concept, followed by the stock price taking off. In this series of cases, the most critical thing is that the stock price takes off, which is the ultimate goal, investors follow the trend, the dealer distributes at a high price, and the company's equipment may not be bought, and the first harvest is a ** investor.

There are a couple of problems. The first point is that the company has purchased computing equipment, has it become a high-tech enterprise?Nvidia is a high-tech enterprise, and the company that uses computing power is also a high-tech enterprise, but only the company that buys computing power equipment and rents it out is not a high-tech enterprise.

The second point is that the story told by computing power leasing is mainly that companies that use computing power can lease computing power instead of buying equipment, so as to achieve the effect of reducing capital investment, and the equipment manufacturers who lease computing power do not have any value base worthy of speculation.

The third point is that no matter how high the technology is, it does not make money from the beginning. Whether it is aircraft manufacturing, computer production, or the current hot artificial intelligence, it was all high-tech at that time, but who can guarantee that the company will make money when it enters the game and can survive until the industry matures?

In fact, in the announcement of the listed company, a number of risk reminders have been given, first of all, the purchase of funds are borrowed, and secondly, the purchase of computing equipment has no significant impact on the company's current operating performance, and the company does not yet have the relevant operational qualifications to carry out intelligent computing business. But investors can always avoid the important and speculate first. It wasn't until the regulators stepped in that these problems could not be ignored and the funds began to flee.

In **, all the news has two sides, both may be the decision made by the listed company for the long-term development of the company, or it may be for the short-term stock price ** and the hot behavior. Generally speaking, if the regulator has issued an inquiry letter, investors should attribute it to hot spots. At present, the share price of Aoya shares has begun to fall, investment risks have begun to appear, for poor performance of Aoya shares, investors had better stay away.

Of course, many speculators also have such a mentality, since the company has such a hot behavior, the stock price has also appeared 3 price limits, indicating that there are large funds have entered, the current stock price, does not rule out the possibility of continued speculation in the later stage, so there is an opportunity for speculation. This typical speculative thinking can only be said to be completely ignorant of value investment, crazy brainless speculation, and the final result can only be harvested.

Beijing Business Daily commentator Zhou Kejing.

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