Starting out as a drug dealer in 1988
Chapter 540 Shorting Longxing 13
As time passed, the stock price numbers on the screen seemed to have turned into soldiers on both sides in a fierce battle, fighting back and forth, neither side giving in.
11.92 yuan, 11.53 yuan, 11.01 yuan...
In just ten minutes, the stock price plummeted like a waterfall, and was once again severely suppressed back to below 11 yuan, and it continued to fall.
However, just when the stock price was about to fall below the critical point of 10.5 yuan again, a powerful buying force suddenly appeared, like a solid line of defense, firmly resisting the surging selling pressure.
At this point, this thrilling battle between bulls and bears has officially begun.
Both sides showed no sign of weakness and tried their best to gain the upper hand.
Buyers keep buying chips, trying to push the stock price up again; sellers desperately sell their stocks, trying to break the other party's defense line in one fell swoop.
For a moment, the atmosphere in the entire trading hall was extremely tense. Everyone's eyes were fixed on the constantly flickering large screen, paying attention to who would win this war without gunpowder.
For Zhao Wenhao, the scene of fierce competition before him was exactly what he was most looking forward to and happy to see.
He just hopes to consume as much of the opponent's capital as possible until the opponent can no longer organize a decent counterattack.
Time passed little by little, and ten minutes before four o'clock in the afternoon, a large-scale sell-off suddenly came, directly pushing the stock price down to 9.93 yuan.
"Mr. Jay, what should we do? We've already invested a total of 3.2 million. Should we continue to fight for it?"
Inside the Longxing Group, Zhou Changyan finally couldn't sit still anymore and went straight from his office to the trading area to personally direct the battle.
"Keep buying. The stock price must be controlled above 10 yuan today." Zhou Changyan shouted loudly in a stern voice.
If someone observes carefully, they will find that his fingers are already trembling.
It's only the second day, and the stock price has already fallen from the initial 14.87 yuan yesterday to 9.93 yuan.
In just these two days, the market value of the entire company has dropped by a full 33.22%.
Although it is in the stage of financial crisis, even so, last week, the total market value of Longxing Group was still 380 billion yuan.
But two days later, the company's market value had dropped to 253 billion yuan.
At this time, Chen Bing, director of the trading department, was sweating profusely. He was directing his subordinates to buy large quantities of stocks again.
But Zhao Wenhao on the other side was already on high alert. Once there was the slightest change in the stock price, he would immediately suppress it without any hesitation.
Ten minutes passed quickly and the stock price remained below 10 yuan.
"Mr. Zhao, today is over. The share price of Longxing Group is 9.85 yuan."
The trader rubbed his sore wrist and reported to his boss excitedly.
"Thank you for your hard work!" Zhao Wenhao smiled faintly, naturally understanding his subordinates' thoughts. "Yesterday, it was President Kuang who treated everyone to a big dinner. Today, I'll be the host. Whatever you want to eat, feel free to enjoy it!"
Hearing the boss say this, all the employees were naturally overjoyed.
As for the Longxing Group on the other side, people were in panic.
This day passed quickly, and the third day came soon.
New Century Investment Company continued to do the same and once again suppressed the share price of Longxing Group.
Faced with the sudden attack, Longxing Group responded quickly and launched a fierce counterattack.
Especially when the market was about to close that day, the counterattack entered a white-hot stage, like a thrilling life-and-death battle.
However, it is regrettable that even so, Zhao Wenhao had no intention of backing down. He continued to suppress the share price of Longxing Group with tremendous force, and mercilessly dropped it to 7.16 yuan in one fell swoop.
If there had not been so little trading time left that day, Longxing Group's share price would have been ruthlessly smashed to below 7 yuan.
The figure of 7 yuan is of great significance to Longxing Group because it was exactly the issue price when the company went public that year.
Once this line of defense is breached, it will undoubtedly bring unbearable damage to the entire group.
However, such difficult days did not make Longxing Group wait too long.
On the fourth day, when the Hong Kong stock market just opened, Longxing Group encountered huge selling pressure.
The selling orders that came in like a bursting dam instantly overwhelmed the stock. Its stock price had no resistance and fell straight below the 7 yuan mark, and then continued to plummet.
In just twenty minutes, the stock price plummeted to 6.42 yuan like a free fall.
At this moment, in the spacious and luxurious office of the chairman of Longxing Group, Zhou Changyan could no longer maintain his usual composure.
His hair stood on end with rage, his face flushed red, veins popped out on his forehead, his hands clenched into fists, and he kept shaking.
The image of the elegant and strategic business elite in his daily life is gone, replaced by a madman consumed by anger and despair.
He roared hysterically, "Invest all the funds you can! I absolutely don't believe they have enough strength and capital to keep shorting us! Even if it costs everything, we must defend our bottom line!"
Since Longxing Group successfully went public, time has flown by and more than ten years have passed in the blink of an eye.
However, unexpectedly, its stock price fell below its original issue price for the first time during this long period of time.
This sudden change was like a bombshell, instantly causing an uproar in the stock market.
Just now, a series of urgent phone calls rang one after another, and every caller was a shareholder of Longxing Group.
Their tone was full of anxiety and blame, as if they wanted to pour out all their dissatisfaction.
The source of all this was the emergency board meeting chaired by Zhou Changyan two days ago.
At that time, facing the severe situation of continued decline in stock prices, Zhou Changyan decisively proposed a plan for all shareholders to repurchase the company's shares, hoping that this move would be able to turn the tide and save the declining stock price.
Although the financial conditions of the shareholders themselves were not optimistic, out of consideration for the company's future development and trust in Zhou Changyan, they finally gritted their teeth and squeezed out some funds from their tight capital chains to participate in this repurchase.
But who could have expected that in just two days, the precious funds they had worked so hard to gather and invest again would disappear without a trace, like a stone sinking into the sea.
Not only did it fail to stop the stock price from falling, but it also caused the losses to further expand to more than 30%!
How can such a huge gap not make people feel disheartened?
So, naturally, all shareholders pointed the finger at the instigator - Zhou Changyan.
You'll Also Like
-
I, the wizard, the foolish Buddha.
Chapter 439 4 hours ago -
Knight Lord: Start with Daily Intelligence.
Chapter 315 4 hours ago -
Sherlock Holmes at Hogwarts.
Chapter 184 4 hours ago -
Anime: Fight Sukuna at the beginning?.
Chapter 394 4 hours ago -
The Witcher: Make Witcher Great Again
Chapter 345 4 hours ago -
I reforged the glory of the magic ring in Middle-earth
Chapter 149 4 hours ago -
Fairy Tale: Little Red Riding Hood's Wolf Mentor
Chapter 230 4 hours ago -
Daqin Zhentiansi
Chapter 508 4 hours ago -
Hexagonal God
Chapter 631 4 hours ago -
Yin Shou Shu
Chapter 211 4 hours ago