Sudden bad luck! Semiconductor giant falls suddenly evaporates more than 40 billion US dollars

category:Finance
 Sudden bad luck! Semiconductor giant falls suddenly evaporates more than 40 billion US dollars


However, Intel also said that its 7Nm chip process progress was delayed than expected, resulting in the production time of 7Nm CPU products will be shifted back by about six months. Even though the companys performance exceeded expectations, the news directly pushed Intels stock price to dive. It plummeted by more than 15% at the opening of Fridays trading, down 16.24% to $50.59, a new low in nearly four months. The companys market value evaporated by $41.5 billion a day to $214 billion, ranking third in the semiconductor industry listed in the United States, after TSMC and NVIDIA. Intel shares fell 14.58% in the year, making it one of the worst performing semiconductor companies listed in the United States this year. TSMCs share price performed well last year, surpassing Intel in market value and becoming the largest company in the semiconductor industry. NVIDIA is up 73.48% this year after 76.94% last year, and its market value again surpasses Intel today.

During the epidemic, a large number of retail investors poured into the stock market

Due to the impact of the epidemic on the economy, the volatility of the financial market has been magnified, and the share prices of some companies have soared and fallen. Even companies that have declared bankruptcy and delisted have been stir fried. This is related to the structural changes of participants in the US stock market.

Zero income company backdoor blank check company

In addition to a large number of retail investors involved in junk stock speculation, there is also a phenomenon in the US stock market, that is, the rise of special purpose acquisition companies. Special purpose acquisition companies (SPAC) are also known as blank check companies because they have no other business. The registration system implemented in the United States allows the sponsor to promote the blank check company to be listed on the stock exchange. Since then, the issuers goal is to find a company with development prospects and eager to be listed, and merge with it to obtain financing and listing, which is similar to backdoor listing, and the original investors of the company can obtain certain rewards. If the issuer fails to find a suitable target or complete the merger and acquisition within a certain period of time, the blank check company will face liquidation.

This year, the more concerned companies listed through spac merger are electric truck company Nikola (nkla). Founded in 2014, the company is considered to be one of Teslas important competitors in the field of heavy trucks. It has won ten billion US dollars of orders before its products are listed on the market, and has become the first fuel cell vehicle to be listed. However, the company has not built any vehicles at present. The company rose 103.7% on the first day of listing. Since then, its market value has reached more than 30 billion US dollars, exceeding the market value of Ford Motor. The company forecasts that the revenue in 2020 will be zero, which can be seen from the crazy degree of the market. The latest market value of the company is still 10.8 billion yuan, which has fallen 68% from the highest market value.

As of July 24, data showed that 50 blank check companies had IPO since the beginning of this year, with a total raised amount of 19 billion US dollars, a record high in history. The annual raising amounts from 2015 to 2019 were 3.9 billion US dollars, 3.5 billion US dollars, 10 billion US dollars, 10.8 billion US dollars and 13.6 billion US dollars respectively.

As a listed company, spac may become a target for short selling investors. Usually, when the short seller is not very active in SPAC or the merger and acquisition transaction is facing failure, it is very easy for the short seller to short and cause losses to investors.

Global stock markets have been watching for a week

There are obvious signs of rebound in European economic data. The purchasing manager index (PMI, when the index is higher than 50, indicates that the economy of related industries is expanding, otherwise it is contracting) shows that French business activity exceeded expectations in July; in July, the PMI of German service industry rose to 56.7 from 47.3 of last month, reaching a high of nearly two and a half years, and the PMI of manufacturing industry rose to 50 from 45.2 of last month, which is the highest in the past 19 months In July, the UK manufacturing PMI recorded 53.6, better than expected, showing a strong rebound.

Affected by the rebound of the epidemic situation in the United States, PMI of Markit manufacturing industry and service industry in July were lower than expected.

Judging from the performance of the worlds important indexes in the past week, Russias RTS rose the most, with a cumulative weekly increase of 3.74%. Indias sensex30 index had six consecutive positive weeks, up 3.01%. The FTSE 100 index of the UK and CAC40 index of France performed the worst, falling 2.65% and 2.23% respectively.