Under his gaze.
At 9:25 AM, when the call auction in both markets ended, 'Meiyan Jixiang' opened high and hit the daily limit, with its stock price fixed at 11.38 yuan.
During the entire call auction phase, a total of over 76 million was transacted.
Just after opening, it achieved 11 consecutive limit-up boards, continuing to demonstrate the powerful style of a concept leader.
And with massive follow-up funds rushing to buy shares, the limit-up bid at market open had already reached 530,000 lots.
"Holy shit, an 'one-word' limit-up board opening."
Noticing the extremely strong opening pattern of 'Meiyan Jixiang', Xu Qiao, in the internal group of the 'Modu Ultra-Short Gang' main speculative funds where Su Yi was a member, was utterly stunned and exclaimed in shock:
"In the market, these follow-up funds chasing, these retail investors buying at high positions, have they all gone mad?"
During this period, after the continuous consecutive limit-up boards and speculative frenzy of 'Meiyan Jixiang' stock.
Its market value has already risen from over 8 billion at the beginning of its consecutive limit-ups to over 20 billion yuan in market value today.
And its circulating market capitalization has changed from nearly 7 billion originally to over 17 billion now.
A circulating market capitalization of over 17 billion yuan!
With such an enormous circulating market capitalization, these follow-up funds in the market, under extreme bullish sentiment, actually dared to push for an 'one-word' limit-up board at the height of 11 consecutive limit-ups, which made Xu Qiao utterly bewildered.
"'Bull's Back' sentiment expectation, huh,"
Said Brother Chen from 'Xinyue Road'.
"The Shanghai Composite Index has held steady above 4100 points with three consecutive positive closes, creating new bullish expectations, so how can retail investors not go crazy?"
"Heh, 'Bull's Back'?"
Said Old Wu from 'Yintai Road'.
"The shares from 5000 to 4000 points are almost a fault line, at least ten trillion worth of trapped funds are accumulated in this 1000-point space, but with the current trading volume, and with regulators having cut off off-exchange financing channels, who will free them, and who can free them? Are we relying on the 'national team'? Even 'Zhengjin', which received a trillion-yuan credit line, probably doesn't have that capability, right?"
"So, then, will this be a new turning point for the market?"
Asked Old Zhang from 'Xinzha Road'.
Brother Chen said:
"I think it will be a new inflection point for the market, and... most likely, this inflection point will still be downwards."
"No matter how the market changes, 'Meiyan Jixiang' showing a low-volume 'one-word' limit-up board trend, the sentiment should have peaked,"
Old Wu said.
"With this kind of pattern, the massive accumulated profit-taking orders for this stock will most likely be unable to resist selling."
"Brother Su will most likely dump today, right?"
Old Zhang said.
"And there's no reason not to dump!"
"I wonder how much Brother Su made this round on 'Meiyan Jixiang' stock?"
Old Wu said.
"Most likely, he made over 200 million yuan in profit, right?"
Xu Qiao said:
"Probably more than that, Brother Su really made a killing this round."
"There's no way around it, huh,"
Old Zhang said.
"'Meiyan Jixiang' stock, in this market surge, except for the first two 'one-word' limit-ups, the subsequent ones were mostly a relay of changing hands. Anyone could buy, anyone could sell, and everyone participated in the relay of this stock, but unfortunately, no one had Brother Su's foresight. This money... Brother Su deserved to earn it."
"Sigh, indeed, can't be envious,"
Old Wu sighed softly and said.
As messages in the group refreshed, soon, both markets entered the 9:30 AM mark.
The trading boards of both markets, after a brief pause, changed rapidly in an instant.
The Shanghai Composite Index then rebounded and attacked upwards.
In the main theme of 'Zhengjin Holdings' with 'Meiyan Jixiang' as the core leader, a host of follow-up stocks such as Yong'an Pharmaceutical, Lansheng Co., Ltd., Beihua Co., Ltd., Sunshine Lighting, New World, Guoxin Culture, Wenfeng Co., Ltd., driven by 'Meiyan Jixiang's' high-open "one-word" limit-up, collectively surged, with their stock prices soaring.
At the same moment, in concept themes such as 'sub-new stocks', 'state-owned enterprise reform', 'internet finance'....
The corresponding core concept stocks also quickly rose, continuing to show a strong rebound pattern.
As for 'Meiyan Jixiang', the hottest stock in both markets, with the highest investor attention and the most fiercely discussed concept leader stock in the entire market.
Its limit-up bid, in an instant, surged from 530,000 lots at market open to 630,000 lots.
However, immediately after.
Before anyone could react.
Ten consecutive large sell orders of ten thousand lots each crashed onto 'Meiyan Jixiang's' trading board, bringing its limit-up bid back down from 630,000 lots to 530,000 lots.
And also caused 'Meiyan Jixiang's' intra-day trading volume.
In just half a minute after the official market open, to surge from over 76 million at the end of the call auction to nearly 200 million yuan.
Afterwards, just when everyone thought this was not a big issue.
Believing that 'Meiyan Jixiang', sealed by massive funds, could withstand this small amount of selling pressure.
At 9:31 AM, when 'Meiyan Jixiang's' limit-up bid, with the combined efforts of various follow-up funds, had again coalesced to nearly 700,000 lots or more.
Su Yi, with a one-click clear-out.
From his stock account, the remaining over 450,000 lots, a total of over 500 million yuan worth of shares.
Were entirely dumped onto 'Meiyan Jixiang's' limit-up board.
When the 450,000 lots of major sell orders were declared by the trading system, in just an instant, 'Meiyan Jixiang's' limit-up bid sharply dropped to below 250,000 lots.
And the board's trading volume instantly surged to over 700 million yuan.
"My god, what's happening?"
Countless short-term investors who had placed buy orders on the limit-up board suddenly discovered that 'Meiyan Jixiang's' limit-up bid had dropped by over 400,000 lots in an instant, and their own orders were all filled, leaving them utterly bewildered amidst their astonishment.
Then, before they could recover and react.
The sentiment for 'Meiyan Jixiang's' limit-up lock had already collapsed.
The remaining over 200,000 lots of limit-up bid could not even hold for 5 seconds and were shattered in an instant by other profit-taking funds that rushed out when they discovered the board's sentiment had collapsed.
At 9:32 AM, less than three minutes after the official market open.
'Meiyan Jixiang's' stock price plummeted from the limit-up board like a cascading waterfall, with a flash crash trend, directly plummeting to the flat line, losing 10 percentage points in an instant.
"Damn it, the opening sentiment was so strong, it clearly could have gone for another limit-up with low volume, did it have to be dumped so brutally?"
Seeing 10 percentage points of profit instantly disappear from his account, He Zhong, the core figure among the 'Gusu Faction' main speculative funds, in the VIP private trading room of Dongwu Securities' Gusu Northwest Street branch, having been a beat too slow and missed the chance to be the first to dump for profit-taking, couldn't help but curse and then said, speechless:
"In one minute, tens of millions in profit are gone. These funds from 'Financial Street Fuxing Road' are truly ruthless when dumping, a perfectly good market trend, instantly shattered."
However, by this time, the trend had already collapsed.
Even though he wished he could chop up the trader of 'Financial Street Fuxing Road' funds and feed them to dogs, he was still forced to follow suit, dumping and clearing his position.
(End of chapter)
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