The Overvaluation Of New Stocks And Other Small Cap Stocks Has Led To The Reduction Of Listed Companies.

It is not surprising that the listed companies are reducing their holdings. Many listed companies in China are rushing to cash in. The reduction is no longer normal.

In addition, although the valuation of Shanghai Stock Exchange is relatively low, small and medium enterprises, especially the high valuation of gem, are also important reasons for the reduction of industrial capital.

Since the fourth quarter of this year, after the disclosure of the three quarterly report, the major shareholders of listed companies have reduced their holdings.

Data show that since November, more than 100 listed companies have disclosed controlling shareholders, shareholders holding more than 5% shares, and Dong Jian's high holdings or publishing reduction plans, especially those listed on medium and small capitalization.

It is worth noting that in November and December, the A share market will usher in the peak of the lifting of restrictions on the sale of shares, and the total market value of the lifting of the ban in the past two months is close to 600 billion.

So in the near future

In the context of high innovation, how do private people interpret the new round of reduction? With these questions, private placement network interviewed senior partner of Ding Jun capital, Yang Huan, President of Research Institute, Ma Cheng, chairman of giant investment, and chairman Luo Weidong of Siya capital.

In the short term, the market will start the shock adjustment mode and enter the release risk stage.

The operation should not be too radical, and risk avoidance should be the main thing. After adjusting the index, we can focus on the leading stocks of the new stock market that are adjusted ahead of the market.

At the present stage, the small and medium sized innovation targets (except for the industry leaders) are paying for the previous mergers and acquisitions, and need to digest the existing overvalued value before 2017. Most of the listed companies are concentrated in 2014 and 2015 years, and the performance is three years.

Before the merger and reorganization, there is the possibility of impairment of goodwill.

Shareholders worried about the decline in the performance of the subsequent goodwill impairment, affecting the stock price while taking advantage of the active stage of the market to complete the reduction.

Market side: as a whole, the stock index in recent years has been continuously lifting all the major weights in the belt and road, including steel, coal, nonferrous metals and brokers. The stock index has reached a new high of 3221 points. The stock market is too far away from the stock market in the near future.

Technically, the recent concern about the stock index callback in support of about 3180, if the support is effective, after the momentum, the market still has the possibility of continuing to attack.

I have to say, there are still many.

The valuation is very high, which will lead to the reduction of listed companies.

In particular, many of the new shares have been directly fired up to 100 times earnings and seriously overdrawn their future growth.

A lot of new shares are expected to have a long period of depression in the future. Once the fundamentals have increased several times, they will probably push the stock price up again.

Therefore, for a long time, the investment opportunities of new shares are very low.

In the past, new shares, which are now overvalued small cap stocks, have ushered in the reduction of shareholders of listed companies.