China’s stock market: The stock has fallen to all shareholders, why are some listed companies suppressing the stock price in turn?

The stock has fallen to all shareholders. Why is it still falling?

Although all shareholders are stuck due to the continuous decline in stocks, due to the existence of game ideas, there will be bottom-setters. For example, a stock breaks, 10 yuan is the structural benchmark. At present, the stock price has fallen to 8 yuan. All shareholders holding stocks are in a quilt state. Due to the guidance of speculative thinking, some people will think that the chips are very cheap and enter the market, that is, at the price of eight yuan per share, someone picks up the market. , The phenomenon of cutting meat will occur, completing the transfer of stocks.

Sometimes, if the market situation is not good, or there is a problem with the fundamentals of the stock, the sell-off will sell the stock irrespective of the results, resulting in an imbalance between supply and demand, and the stock price will fall further. At this time, it will attract more orders. So back and forth, until a balance point is reached, the stock price will rebound. This is a normal trading logic.

If you consider the effects of major shareholder reductions and the premium of new shares, many shareholders’ stock prices are far lower than the market price, so no matter how much the stock price falls, there will always be profit-making Disk, meat cut and stop loss are intertwined, and the stock price will fall continuously.

China’s stock market: The stock has fallen to all shareholders, why are some listed companies suppressing the stock price in turn?
Why are some listed companies unwilling to increase their stocks and suppress them in turn?

I. Issuance of additional shares by the company

A company’s IPO listing is not the end, but just the beginning. After a successful listing, the company has a long-term financing platform that can use the listed company’s platform for financing. An additional issue is one of the important ways. The listed company’s additional issue generally adopts a targeted additional issue to issue new shares to specific investors to raise funds.

Listed companies issue private placements, and the issue price is not less than 90% of the average company’s stock price 20 trading days before the pricing benchmark date. The “Detailed Implementation Rules for Listed Companies’ Non-public Issuance of Stocks” further stipulates that the aforementioned “benchmark date” may be a resolution of the board of directors. Announcement date, announcement date of shareholders’ general meeting resolution, first day of issue period.

If the additional issue price is too high, there may be no institutions willing to participate in the additional issue, which will lead to the failure of the additional issue and the listed company will be unable to raise funds. In addition, in the case of private placements, the major shareholders and actual controllers of listed companies sometimes participate in the issuance directly or indirectly, and naturally do not want the issuance price to be too high, which will suppress the stock price.

Second, the company’s equity incentives

Equity incentives for listed companies are an incentive for management. Combining incentives with performance indicators of listed companies, binding managers with listed companies, and increasing the enthusiasm of listed company management, equity incentives generally Take two approaches:

One way is to adopt an employee (or management, partner) shareholding plan, and the listed company will invest in the purchase and establish a special investment plan; the other is that the listed company first repurchases the shares with cash, and then gives or discounts the shares Sell ​​to motivated managers.


Equity incentives have a lock-up period, and they also need to meet operating indicators. They can be unlocked after both conditions are met. If the purchase cost of the shareholding plan is too high, or the price of repurchased shares is too high, it means that management of incentives is obtained. The lower the potential return of the personnel, so the listed company does not want the stock price to be too high before implementing equity incentives.

Third, the restricted shares have not been lifted

Restricted shares, that is, shares that are restricted for sale, are generally divided into three parts: 1. Shares obtained before the company is listed on the IPO; 2. Shares obtained by participating in additional issue of shares after the company is listed on the company; 3. In equity incentive plans Acquired shares.

Most stocks do not go up and down all the time, and they will always cycle between ups and downs. If a stock goes up too much at a certain stage, it may perform poorly in the next time, or even In a bear market that continues to fall, if the stock price rises sharply before the restricted stocks are lifted, it is likely to continue to fall. When the restricted stocks are lifted, the stock price is very low, resulting in the unlifted stocks cannot be cashed.

The restricted stock is either the actual controller of the listed company, a major shareholder, or a senior manager such as Dong Supervisor. Naturally, they do not want the stock price to rise sharply before their shares are lifted, and they hope that the rise will occur when the shares are lifted. At that time, cash can be smoothly cashed out, so we will see that many stocks have been in a downturn. After a sudden surge, major shareholders have lifted the ban on selling restricted shares and announced a plan to reduce their holdings.

The above three reasons are the reasons why listed companies do not want their stocks to rise. The most important thing for stock trading is to learn to grasp the trading points of the stocks, so that you can avoid these short-lived stocks. The following introduces the main formulas for bottom-selling stock selection and stock trading tips to help you accurately grasp the trading points!

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