One day later, all the stocks rose as expected.
Among them, the stock of Shenyuanye is like a rocket strapped to its butt, it just won't stop.
The highest price on the black market that day was 25.5 yuan per share, which was 15.5 yuan higher than the issue price of 10 yuan per share, representing a 255% increase.
However, the total trading volume for the entire day was only 500 shares.
All the shareholders who bought shares in Shenyuanye are now observing and waiting.
The next morning, someone on the black market was offering to buy shares of Shenyuanye for 30 yuan each.
However, the effect was minimal; at a price of 30 yuan, they only received 100 shares of Shenzhen Yuanye stock.
By the afternoon, the price of one share of Shenyuanye rose to 35 yuan, with a total trading volume of 1,200 shares, compared to 500 shares yesterday, indicating a slight increase in trading volume.
On the third day, someone on the black market offered 48 yuan per share to buy 2,000 shares of Shenyuanye.
These words instantly ignited the entire black market for stocks.
The transaction was completed in less than half an hour at a high price of 48 yuan per share.
As a result of this transaction, other stocks also rose to varying degrees.
The price of each share of Shenzhen Development Bank rose to 108 yuan.
Compared to the price Chen Dong paid at the time, each share yielded a net profit of 28 yuan.
5,000 shares would cost 140,000 yuan!
It was afternoon.
Some employees who worked at their workplaces also received the news, rushed to Lychee Park, and joined the ranks of those selling their stocks.
When more people sell stocks, the price naturally goes down; conversely, when more people buy stocks, the price goes up.
This is also a fundamental law of the market!
More than 20,000 shares of Deepfield's stock were traded throughout the day.
The highest price that day was 48 yuan per share, and the lowest price was 46.5 yuan per share.
In the subsequent stock market, this was a clear signal of a decline.
However, such basic market principles did not apply in the stock market of 1990.
There are two reasons!
First, information was extremely scarce.
Simply put, the stock exchange market won't open until the end of the year, and right now, all stock trading and pricing are based in Lychee Park, the largest black market in the stock market.
The biggest characteristics of the black market for stocks are its simplicity, convenience, speed, and high turnover of personnel.
From the shop owner to the vegetable vendor, you can hear seven or eight different quotes from the north gate to the south gate.
Second, the profit-making effect.
Hot money from all over the country poured into this small fishing village, and the enthusiasm of outsiders to buy stocks was a hundred times higher than that of the locals.
Some of them don't even know what stocks are, but that doesn't stop stock prices from continuing to rise.
More and more people are becoming rich overnight by buying stocks.
More and more people are becoming envious, and they don't care about the stock price or whether there are any fundamental factors to support it.
Everyone was thinking that if they could grab a share, they would make a profit, so they all rushed into the stock market.
This is also the biggest reason why stock prices remain high.
......
Inside a hotel.
Wang Meng was extremely irritable and cursed at his two bodyguards.
"They're insane, they're all insane, these people are all fucking crazy."
Since buying shares in Shenzhen Yuanye, Wang Meng's mood has been like a rollercoaster these past few days.
The good news is that the stocks are actually making money; in just a few days, the stock price has multiplied several times.
What worries him is that the stock price keeps rising, and he can't buy it even if he wants to.
As the stock price continued to reach new highs, Wang Meng was filled with worry.
This time, Shenzhen Yuanye's stock issuance adopted the method of personal information registration.
Each individual, holding their ID card and other information, can purchase a maximum of 3,000 shares of stock.
But that's where the problem lies. Wang Meng brought plenty of cash with him this time, but due to insufficient preparation, he only brought two bodyguards.
In other words, even with the maximum purchase limit, Wang Meng and his two companions only managed to buy 9,000 shares of Shenzhen Yuanye stock.
An offering of 9,000 shares at a price of 10 yuan per share would amount to only 90,000 yuan, which is a drop in the ocean compared to his capital.
If sold at the current price of 48 yuan per share, it would fetch 430,000 yuan.
For most people, earning this much money in just a few days would be a dream come true.
But for Wang Meng, this was really a small amount of money.
Don't forget, coal mine owners aren't short of a few measly coins!
He was determined to come to Shenzhen to do stock trading.
Therefore, what he was really worried about was how to buy more stocks.
"Stop staring at each other like that, you two. Did you find out what I asked you to inquire about?"
Upon hearing this...
One of the bodyguards said with a wry smile.
"Boss, these past two days, my brother and I have been spending all our time in Lychee Park, asking everyone we meet. We really did our best."
The two were not lying. In two days, they managed to acquire less than 10,000 shares of Shenyuanye by taking advantage of the price, which was still far from the 100,000 shares that Wang Meng had requested.
"Yes, boss, we've tried everything we could think of, but there really aren't any shareholders willing to sell!"
"And then there are those out-of-towners, always arguing with us. If we offer 40 yuan, they immediately offer 41 yuan; if we offer 42 yuan, they offer 43 yuan..."
"......"
Another bodyguard chimed in.
At this point, both of them looked somewhat uneasy.
It's just a piece of tattered paper, yet so many people are scrambling to have it?
My dear reader, there's more to this chapter! Please click the next page to continue reading—even more exciting content awaits!
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