Financial defeat in IPO! The three major news in the early hours of this morning were fully fermented (22）！
1. Financial defeat in IPO! The U.S. financial war against China first started with the suppression of Chinese concept stocks in the United States, and then passed on to the Hong Kong market, and then gradually passed to the A-shares in the mainland. This is accompanied by a sharp rate hike by the Federal Reserve to 5-525%, which caused the RMB exchange rate to hit a 16-year low last year; In addition, the United States has set up a negative list for many Chinese companies and restricted high-tech exports.
Before the hegemony of the dollar has completely declined, the above suppression and containment measures will indeed have an obvious negative impact on domestic and foreign investment. But I think internal over-financing is fundamental, the most obvious of which is the IPO, since 2018, there are almost 2,000 ** listed, and many companies are issued at high premiums.
Such a high premium, the highest level is the profit of the enterprise for more than ten years, or even decades. In the absence of relevant institutional constraints, 90% of companies will not want to make the company bigger and stronger through secondary financing, but want to rub hot spots, and then cash out and leave, and finally leave a piece of chicken feathers for secondary market investors.
II. 12.4 billion restricted shares have been lent and have not yet been returned Industry: The possibility of selling is small and has little impact on the market.
After the lending of restricted shares was completely suspended, some investors were worried that the bonds that had been lent and had not yet matured could form selling pressure. Some investors said on an online platform that the securities borrowing and lending party will sell a large amount of securities that are still in the contract, collect chips at a low level, and repay the securities after the expiration of the securities lending contract, which will lead to the impact of Xueqiu products.
In this regard, a number of interviewees said that there is such a possibility in theory, but the possibility is small, and even if this situation exists in practice, the scale is small enough to have a greater impact on the market. Even though it has been falling for a month, the vast majority of them are still invisible. Stop securities lending, stop new shares, eradicate refinancing, and restore market fairness.
Third, February is historically up and down more, and the decline in the month is also very small, which is very critical to the operation of shareholders, to be able to play the maximum return with the least risk, so the summary is that February is the most suitable time to buy stocks and hold shares, not only to do the performance report, but also to do some fixed in February hot spots and plates, if this cycle can not be active, then the whole year is very pessimistic.
At the same time, there is an unavoidable special event in February, that is, the Spring Festival (even if the Spring Festival appears in late January, due to the factor of the Spring Festival holiday, it will also start in February after the Spring Festival) The market trend near the Spring Festival is prone to an inflection point, so so many positive factors appear in February, so that February can be optimistically tried.