Li Zhiying was arrested and one medias share price soared, which was said to be short-term speculation. Someone wrote to the Hong Kong Securities Regulatory Commission to suspend trading of one media immediately

category:Global
 Li Zhiying was arrested and one medias share price soared, which was said to be short-term speculation. Someone wrote to the Hong Kong Securities Regulatory Commission to suspend trading of one media immediately


Hong Kong orange news

Li Zhiying, the founder of one media, was arrested by police on suspicion of violating Hong Kongs national security law on the 10th, according to Hong Kongs Economic Daily. One medias share price rose more than 1.8 times on the 10th, but there was another change today (November). As of 2:30 p.m., one medias latest price was 1.34 yuan, up 4.25 times, and the trading volume was 1.96 yuan, more than 6.7 times, and the turnover was HK $3.527 billion. In just two days, one medias share price rose 14 times from fairy stock (which means that its price is less than HK $1, so it can only be priced in cents) into mosquito stock (low price stock).

However, on the day of Li Zhiyings arrest by the police on October 10, the stock price of one media fluctuated sharply. First, it fell by nearly 17%, and then soared by 3.44 times to HK $0.4, the largest one-day increase since its listing in 1999. The whole days share price rose by 1.83 times to HK $0.255, with a turnover of HK $394 million.

Stock price trend of one media

According to Hong Kongs orange news, Wen Jie, wealth management strategist at Sun Hung Kai of Everbright University, said there were three reasons for the sharp rise of one medias share price

According to the Hong Kong Economic Daily, Xu Yibin, executive director and chief executive of yaocai securities in Hong Kong, believes that investors may speculate that if Li Zhiying is convicted, or if one media is likely to sell or be acquired, the fund will take advantage of the opportunity to speculate. He said that the rising trend of media stocks such as one media is exaggerated, but it may only be short-term speculation. One media has been losing money for years, so fundamentals can hardly bring support to the stock price.

Guo Sizhi, vice chairman of the Hong Kong stock analysts association, also believes that the sharp rise in the stock price of one media on August 10 was speculative behavior in the market. Before that, even on Monday morning and before the stock price started, one media was still a fairy stock, and he thought that one media stock should not be touched.

Due to poor management, one media has suffered for five years. As of the end of March this year, the company lost more than HK $415 million, a year-on-year increase of 22.68%. Over the past five years, the company has accumulated losses of more than HK $1.9 billion and accumulated losses of more than HK $2.7 billion in the past 10 years.

One media building (information map)

Zhang Huafeng, an old securities expert and vice chairman of the Federation of economic and peoples livelihood, said that the fluctuation of one medias share price in a short period of time may involve significant risks, and the situation may seriously affect the interests of shareholders. He urged the regulatory authorities to follow up the relevant issues seriously in order to protect the shareholders right to know and their interests. Zhang Huafeng also reminded shareholders to pay attention to relevant market risks, make prudent investment and avoid losses.

Screenshot of Hong Kongs east net Report

The stock price of one media has changed dramatically in recent days. According to Hong Kongs east net, Deng Decheng, chairman of the Hong Kong Political Research Association, wrote to the Hong Kong Securities Regulatory Commission (SFC) in his personal name today (November 11). He formally complained that the Commission had not suspended the trading of one media in real time, which eventually led to significant changes in the stock price of the relevant stocks in the market, which may damage the rights and interests of investors and affect the reputation of the Hong Kong stock exchange market Correct the mistakes as soon as possible, and immediately suspend the trading of one media until the incident is reasonably explained.

(function(){( window.slotbydup=window .slotbydup||[]).push({id:u5811557,container:ssp_ 5811557, async:true }Author: Zhao Youping, editor in charge: Li Tianyi_ NN7528