The continuous emergence of trading stocks makes hot money restless. Take rainbow shares as an example. In the recent rainbow stock dragon and tiger list released by the exchange, there are many first-line hot money figures.
The business department of Industrial Securities Shaanxi Branch has continued the strong momentum since the second half of the year. The total turnover of longhubang in recent three trading days has reached 1.689 billion yuan, ranking first among all securities business departments. On December 1, the business department of Shaanxi Branch of Societe Generale Securities Co., Ltd. was listed on the dragon and tiger list of rainbow shares, ranking second among the buyers, with a purchase amount of 589.099 billion yuan. After the announcement of this list, rainbow shares continued to close two one word limit.
It is worth noting that rainbow shares is not the main target of funds behind this seat. On December 12, the market value of TCL was up and down. In the TCL Technology dragon and tiger list released by the exchange on the same day, the business position of Industrial Securities Shaanxi Branch ranked second, with a purchase amount of 402 million yuan, second only to Shenzhen Stock Exchange, which ranked first.
Similarly, in TCL technologys Dragon Tiger list on December 2, the old hot money seat Guotai Junan Securities Shanghai Jiangsu Road business position was the third, with a purchase amount of 294 million yuan; Zhejiang hot capital seat, China construction investment securities Hangzhou Qingchun Road business position was the fifth, with a purchase amount of 178 million yuan.
Since the second half of the year, many companies with a market value of 100 billion, including TCL technology, Ningde times, BYD, etc., have often seen hot money in the Dragon Tiger list while their share prices have risen. This is not consistent with the style of hot money speculation in the past. Market participants believe that as the A-share style has continued to bias towards value in recent years, the regulatory authorities have maintained a high pressure on market manipulation and other violations, and the large amount of hot money has given up speculation in small market value stocks and turned to the leader of large market value.
However, from the perspective of stock price trend, it is not easy for hot money to buy stocks with large market value. Due to the large market value and the concentration of institutional shares, TCL technologys stock price is difficult to rise and limit continuously in the short term as rainbow shares. After multiple hot money entered the market on December 2, TCL technologys stock price opened high and went low yesterday, closing down 4.87%, and releasing a historical volume of 10.434 billion yuan. However, the speculation of small market value stocks is difficult to match with the fundamentals, and the short-term active stock prices may have risks. For example, rainbow shares disclosed abnormal trading volatility and risk warning announcement on December 1 that the company does not have hot business such as OLED, flexible screen and graphene mobile phone as reported by the media. Danhua technology disclosed that the company has the risk of operating losses in the first three quarters of 2020, and the companys own profit situation is under greater pressure. There is a risk that the latest P / E ratio and P / B ratio of the companys shares are higher than that of the same industry. Source of this article: Yang Bin, editor in charge of Shanghai Securities News_ NF4368
However, from the perspective of stock price trend, it is not easy for hot money to buy stocks with large market value. Due to the large market value and the concentration of institutional shares, TCL technologys stock price is difficult to rise and limit continuously in the short term as rainbow shares. After multiple hot money entered the market on December 2, TCL technologys stock price opened high and went low yesterday, closing down 4.87%, and releasing a historical volume of 10.434 billion yuan.