"The market will definitely open higher today. Okay, there's less than a minute until the opening. Let's take a look."
One minute later, the stock market opened, and Chen's Capital's stock price plummeted, with massive selling volume within minutes, resulting in a 5% drop.
"This... um... everyone, don't panic. The decline in Chen's Capital is just a continuation of the downward trend, and an upward trend is inevitable."
Lu Feng almost burst out laughing while lying there. He had seen people give summaries after the market closed, but he had never seen anyone give a preview a few minutes before the market opened. Wasn't this just slapping himself in the face?
Feng Zhiyao listened to the radio program and was speechless, only able to say that it was very entertaining.
In the half hour before the morning close, Chen's Capital fell by 17%. To prevent the decline from becoming too severe, Chen's Capital had to buy back shares to push up the price, managing to pull the stock back up in the last few minutes.
When stocks fall, they drop very quickly, like diarrhea, sometimes by more than 50% in a short period of time. But it takes a long time for them to recover that much.
Especially when the overall market is rising while individual stocks are falling, many people are redeeming their shares and buying other stocks, creating a redemption wave.
Chen's Capital spent another 300 million yuan to buy back shares this morning. This is not a sustainable solution. With large-scale redemptions, they will eventually be playing with themselves.
Around noon, Chen's Capital held an emergency board meeting.
There were about thirty people in the meeting room, and everyone looked grim. President Chen, sitting in the executive chairman's seat, felt extremely uncomfortable. He had assured the board members that the market would not fall today, as Chen's Capital's market value had already evaporated by nearly two billion.
"Mr. Chen, what did you say to us on the phone?" the board secretary asked, looking at Mr. Chen.
"Let me explain to the board secretary that we have been in the media spotlight recently because of Lu Feng's meddling, which has resulted in negative news. In addition, there was a sudden sell-off of 700 million yuan worth of shares, which caused panic. Coupled with the overall market rise, this has led to the current situation."
After thinking for a moment, Mr. Chen continued, "Everyone can rest assured that things will return to normal within two days."
"Mr. Chen, if we want to stop this, we can't just keep relying on how many shares the market dumps and how many we buy. We should raise the market price to give retail investors confidence. Only in this way can we attract more investors. Today, the price has already broken the 40 yuan mark. My idea is to push the price up to around 55 yuan," a manager suggested.
“I agree with this idea. If this continues for about a month, we will be in a more passive position and may suffer even greater losses,” another person agreed.
"But we don't have enough funds on hand," Mr. Chen said with some worry. "We only have less than 500 million yuan left in the books, and we have already invested nearly 1.1 billion yuan."
"Could we use some of the funds? Our stock isn't overvalued. At 55 yuan, given the current market, if it goes up, we can make a profit when we sell. After deducting the interest from the loan, we might even make a little extra."
President Chen nodded, thinking it was a good way to get things done quickly. With another two billion yuan or so, it would be enough to revive Chen's Capital's stock. Moreover, once the stock price went up, it wouldn't fall down anytime soon, and Lu Feng would have no way to take action.
After discussing their strategy, the group decided to start pushing up the stock price tomorrow. President Chen called the executives from last night, and the calls were small, one for 50 million and another for 100 million.
She understands the principle of not taking advantage of every single sheep.
The bosses readily agreed, which improved Mr. Chen's mood considerably. Around noon, he leaked the information through the insider, hoping to stimulate the market and prevent more people from leaving in the afternoon.
After finishing lunch, Lu Feng heard a rumor playing on the radio and suddenly sat up, startling Feng Zhiyao who was standing next to him.
Lu Feng has been listless these past two days, as if he was terrified by that fierce battle. He has been weak and listless. Why is he like this all of a sudden?
"Brother Feng, what's wrong?" Feng Zhiyao asked with concern.
“She’s planning to drive up the stock price. I originally thought she could hold out for a while, but I didn’t expect her to be so impatient.” Lu Feng grinned and said, “It’s time to make a move.”
Feng Zhiyao was also taken aback. Although Chen's Capital's stock was falling, it was too fast to enter the market and drive up the stock price to stimulate retail investors and institutions.
After thinking about it for a while, he figured that Lu Feng was probably worried that entering the market later would cost too much money, or that Lu Feng would take advantage of the low prices to buy up stocks in large quantities.
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