Fan Qi looked at the board. She was about to leave for the United States. Yaohua and Mr. Carter's company were already cooperating. But they were just borrowing Yaohua's channel, and Yaohua only collected commissions. She and Liao Jiqing went to the United States to cooperate deeply with Carter, and Carter also gave them the opportunity.
Today she wanted to make good use of this opportunity to do a beautiful short sale. Now she had Tianhe shares borrowed from various financial institutions in the name of Carter's investment company, and this amount was enough to guide the market.
She took a deep breath, and at 10:12, she began to use a huge amount of short orders to smash the market. Tianhe’s stock price collapsed, and in just a few minutes, it fell by 11.5%.
After the stock price briefly rebounded, Fan Qi sold the stock again. At this time, funds began to panic. The news on Saturday really played a role here. Investors holding Tianhe fled and the stock price continued to fall.
Tianhe pledged the listed company's equity for financing. The stock price fell sharply and hit the liquidation line. Tianhe had to add margin.
But how could Tianhe, which couldn’t even redeem its commercial bills, get the money to add additional margin?
In less than an hour, Tianhe's stock price was almost halved. She began to buy stocks to repay the Tianhe stocks borrowed from various institutions. However, because the liquidation line was reached, the stocks that had to be forcibly liquidated were still pouring out. Her purchase had little impact on the market. At the close of the morning session, Tianhe's stock price fell by 53.2%.
Fan Qi's selling cost was 7.61 and her buying cost was 4.22. She made a profit of nearly 10 million in just one hour in the morning. Of course, the account was not hers.
As a result, the midday news report was that Tianhe Group was being shorted by overseas capital.
At the same time, there were rumors in the market that Tianhe’s properties in Ho Man Tin had quality problems, so they were used to pay off debts to Sheng Xiang Building Materials, but Sheng Xiang Construction did not want them.
Amid such panic, Tianhe Group suspended trading when the market opened in the afternoon.
This is a bull market. Not only was the stock price cut in half today, but there were also reports of quality issues at noon. Now the stocks have been locked up and cannot be sold. Investors who bought Tianhe are almost crying due to the huge losses in the bull market.
At this time, Feng Xueming and Liu Xiangnian's assistant Gong Dingbang were sitting together.
Among all Gong Dingbang's calculations, he had never thought that there would be short selling by overseas capital. The stock price plummeted and a large amount of funds was needed to close the position. Now he could only call Liu Xiangnian together.
Liu Xiangnian had just gotten up at this moment. When he heard the phone ring, he came over to answer it: "Hello!"
"Grandpa, today Tianhe's stock was shorted by overseas institutions and plummeted 53.2%." Feng Xueming said.
"What?" Liu Xiangnian screamed.
Feng Xueming explained the situation after the market opened today: "It was mainly because of the news on Saturday. This news gave the overseas institutions that were eyeing it the opportunity to short sell. Yesterday, Uncle Gong went to say hello to the boss of Shengxiang, planning to use the housing estate under construction to repay the debt. Today, it was reported that Shengxiang did not want these buildings because they had quality problems. Since we have such a good relationship with them, even if they do not accept the housing to repay the debt, they cannot release such rumors to the public, right? Today's stock price plummeted by 53%, which must be related to this rumor,"
Gong Dingbang looked at Feng Xueming. Although he had not expected foreign capital to short sell, the rumors about quality problems in the buildings under construction were spread by him.
What’s more, the boss knew it clearly and just wanted to use these buildings to send Feng Xueming in.
Of course, the boss wanted Feng Xueming to go to jail for two years to get rid of his clothing brand. It was difficult for him to do it outside, so he would naturally find a way after he went in.
"Boss, in this residential project, the two buildings in the first phase are about to be completed and delivered. We will apply for acceptance immediately to dispel the rumors," said Gong Dingbang.
Feng Xueming shook his head: "The problem is that the concrete and steel used in these buildings do have problems. Given the current market situation, who would dare to give us an acceptance inspection?"
"Dingbang, you go find...
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