No major global investment firm would invest in internet companies at this time; it would be like lighting a lamp in a toilet—asking for trouble!
"That was a portal website that Lenovo spent a fortune hiring Jackie Chan to endorse, and it died out so quickly..." Liu Chuanzhi murmured, almost in despair.
Why did you have to choose Jackie Chan as your spokesperson? No wonder the company failed so quickly.
...
Zhao Ye was unaware that his efforts to suppress Lenovo's FM365 portal website had backfired.
They don't even qualify as a worthy opponent.
"Chairman Zhao, just as you predicted, Nasdaq has crashed!!!" Lu Maoshi, Zhou Anping, Liu Yinyin and others looked excited.
The outside world probably doesn't know that Barron's has actually been secretly acquired by an offshore company of the Wujiang Group, and that the article "Burning It All" was also written by someone hired by Zhao Ye.
Its purpose was to deliberately detonate the dot-com bubble.
The moment the Federal Reserve announced the interest rate hike, Zhao Ye knew that he had it all figured out!
Zhao Ye instigated a massive short-selling campaign against Nasdaq!
Zhao Ye is no longer afraid of offending the United States, since he will never go to the United States easily in his life. So why should he be polite to the United States?
Short selling aggressively is the right move!
The internet winter has lasted for at least two years, which means that the Nasdaq index will fall for two consecutive years.
Zhao Ye didn't know if the M Congress would experience the same incident as in his previous life by September of next year, but he had already made preparations in advance.
They moved their employees from the World Trade Center in New York to another location more than a year in advance, primarily for the sake of safety.
In the mobile phone sector, we need to make early moves and acquire the BlackBerry brand. It's not that we're afraid of competition; we mainly want to monopolize the market.
When communication networks are paralyzed, people's mobile phones become useless.
If two brands of mobile phones can function normally, it will distract consumers from their purchasing desires and reduce the popularity of the mobile phone brands, which is obviously not conducive to maximizing profits.
Only when something is "unique" is it most valuable and attracts the most attention.
Let's get back to the main topic.
Before the Nasdaq crash, Zhao Ye had quietly spent $25 billion shorting the Nasdaq index. As the Nasdaq index plummeted, Zhao Ye invested heavily again, intensifying his shorting efforts.
Moreover, Zhao Ye is not the only one shorting Nasdaq now.
Other institutions, companies, and individuals, including international speculative capital, are also shorting Nasdaq.
Even major financial groups in the United States swiftly and decisively shorted Nasdaq.
Saving the market is the government's job; I'm just trying to recover some losses—that's what many US conglomerates think.
Zhao Ye felt that making money from the US stock market was too easy; the US was like a super ATM.
Speaking of which, I'm afraid that because of what they've done, the US economy will decline even more severely!
...
The Nasdaq crashed, and countless internet companies went bankrupt.
Wujiang Portal's valuation has been halved, with a market capitalization of less than $250 billion, and it continues to plummet. Other websites like Alibaba, Amazon, and Taobao are experiencing similar declines.
Zhao Ye estimates that the market value of most internet companies has fallen by at least 75%, and in severe cases by more than 90%.
At the same time, countless companies were implicated, including many telecommunications and hardware companies such as Cisco and Sun, whose stock prices plummeted even more than those of Wujiang Portal.
By the end of April.
The market value of the borderless portal website has fallen by $100 billion.
Cisco, Sun and other companies have lost 80% of their market value.
Stock market investors in the US are in dire straits!
Many people in the US started freefalling, and the sight was truly unbearable to watch.
...
(End of this chapter)
Continue read on readnovelmtl.com
