Although there are many delisting risks on the head, the investment risks of *ST Zuojiang have not attracted enough attention from shareholders, and the sharp ups and downs in stock prices mean that there are still people licking blood at the knife's edge. From the point of view of investment cost performance, *ST Zuojiang is comparable to quasi-delisted stocks, such ** has no investment value, and shareholders should avoid it.
According to the ** regulatory dynamics disclosed on the official website of the Shenzhen Stock Exchange on March 1, in the past week, the abnormal ups and downs of *ST Zuojiang and other companies have been monitored. From mid-December 2023, *ST Zuojiang has had an abnormal trend of continuous falling limit, continuous rising limit, and then continuous falling limit, which has also become the focus of the Shenzhen Stock Exchange. Behind the skyrocketing stock price of *ST Zuojiang, there are both normal risk releases and irrational speculative funds to take advantage of speculation.
As the most expensive ST stock in the past, *ST Zuojiang's valuation controversy has always existed. The bulls firmly believe that *ST Zuojiang is worth the money, and the bears believe that the *ST Zuojiang stock price is a castle in the air without performance support, and the long and short sides seem to have maintained a weak balance relationship. However, since the beginning of December 2023, when *ST Zuojiang was placed under investigation, more and more investors began to avoid risk, and *ST Zuojiang's stock price finally collapsed.
From the perspective of rational investment, if a listed company has any delisting risk, then the investment cost performance of the listed company will be greatly reduced, especially for value investors, such a listed company investment cost performance is zero or even negative.
According to the company's announcement, *ST Zuojiang may currently touch three situations of termination of listing, especially being named by the China Securities Regulatory Commission, stating that it has been preliminarily ascertained that the financial information disclosed by *ST Zuojiang in 2023 is seriously untrue and suspected of major financial fraud. Such a fundamental listed company, no matter from any point of view, the investment cost performance is absolutely at a negative level.
But even so, in the past week, the highest single-day amplitude of *ST Zuojiang's stock price exceeded 23%, and the lowest was about 7%, which means that *ST Zuojiang Trading is still active, and it also shows that some shareholders are not fully aware of the investment risks of *ST Zuojiang, or some speculative funds have completely used *ST Zuojiang as a tool to speculate on stock prices, and the *ST Zuojiang market pricing at this time is completely distorted, and once shareholders are misled, they may face significant investment losses.
ST Zuojiang's latest stock price is 1908 yuan, some shareholders may think that compared with the previous highest share price of nearly 300 yuan, *ST Zuojiang has fallen quite well, even if the risk of delisting is overhead, there is also a chance to overshoot. But such an idea is not rational, after all, the risk warning of delisting of listed companies is never a joke, and there may be no lower limit to the decline of junk companies, and the end may really be delisting.
Investors for *ST Zuojiang, the only operation strategy is to avoid it, there are thousands of good A shares, there is no need to waste time on a junk stock full of delisting risks.
In fact, once a company is dealt with by ST, investors should directly remove it from the self-selection pool, ST means risk and uncertainty, and the most important thing to invest in is the safety factor and stability, with a speculative mentality to buy ST, in the end the probability will outweigh the losses.
Beijing Business Daily commentator Zhou Kejing.