Since the fourth quarter of last year, the operation logic of meituans stock price is roughly as shown in the following figure:
First of all, the rise in 2019 is mainly due to the fact that meituan starts to make profits, and the market finds that meituan, as a local life, has great liquidity.
Finally, from the low point of HK $70, the operation logic of meituans share price returns to that the epidemic situation is good for meituans business. For example, the volume and price of takeout business have increased, which not only increases the frequency of ordering takeout, but also enables users to eat better.
In May this year, after the first quarter report of meituan was released, the epidemic situation was favorable to meituan, new business development was promoted, and the leading position of local life was determined. Meituan has no boundary and is fully recognized by investors.
The market value of meituan in the first quarter is 700 billion. The investment research team of tiger Securities believes that investors can dream of a trillion market value. Unexpectedly, meituan has achieved this goal in such a fast time.
It seems that meituan not only gives everything fast, but also its share price rises fast!
After reviewing the history, lets focus on the recent surge. Lets talk about how the epidemic is good for meituan.
First of all, most of meituans revenue comes from takeout business, accounting for about 57% of the total revenue. We all know that there are more takeout orders in this epidemic, but in fact, this one-off outbreak is not important to meituan.
The most important thing is that the epidemic situation has made businesses and meituan tie deeper. For example, takeout has become the only source of income for businesses. For example, in terms of digital cooperation, meituan further binds businesses to their own chariots. As for the reduction of commission, it makes a vote of loyalty.
In the store business, meituan shows a strong new infrastructure platform value. With the help of meituan platform, local governments issue coupons to stimulate consumption, and meituan adds millions of riders, which not only becomes a reservoir of employment, but also reuses them and reduces the cost of riders.
For example, meituan bought vegetables. Before the epidemic, meituan didnt make it bigger. When the epidemic broke out, meituan bought huge new users without spending a cent. This kind of advantage is not one-off, but the rapid completion of innovative business in society, similar to the boost of SARS on e-commerce business.
Having said the impact of the epidemic on the basic aspects of the United States, lets look at the funding side.
In order to deal with the epidemic situation, various countries have launched monetary easing with varying degrees of strength and extremely low interest rate, which makes core assets highly sought after.
In the U.S. stock market, the market value of apple, Amazon, Google and Microsoft is equal to that of the entire Japanese stock market. The four checks have risen so far. It is hard to imagine that the stock prices of enterprises with a trillion dollar market value can double within a year without a substantial increase in performance.
In terms of Hong Kong stocks, Tencent Holdings (00700) $, $Alibaba - SW (09988) $are not the same. For meituan, qiqia is the core asset, new infrastructure and big blue chip with clearer growth prospects.
Therefore, meituan is sought after by a large amount of funds. Of course, there are also some favorable factors such as the Hong Kong stock technology index.
In addition to its excellent fundamentals and loose capital, meituan has no boundary, which brings huge space for investors to imagine. For example, even if meituan does not purchase Didi, it will certainly cut into the field of travel. In addition, local life is a much bigger industry than e-commerce, and there are many things meituan can do. With this boundless imagination, it is easier to make leek dish after telling a story.