In recent years, there has been a trend of speculation around new concepts in the capital market, such as yuancosmos, covid-19 special drugs, prefabricated vegetables, etc. behind the sharp rise of these waves of concept stocks, there is a certain commonality in the characteristics of the concept, market performance, the “cooperation” between buyers and sellers, which is worthy of the attention of the market and regulators, And we need to be vigilant against market unhealthy tendencies, and continue to hype more other new concepts through this model.
From the perspective of conceptual characteristics, metauniverse, covid-19 special drugs and prefabricated dishes belong to new concepts, that is, at present, there is no clear definition, they are still hazy things in the process of development, and there is a lack of industry standards and supervision, which means that the existence of these concepts is reasonable, plastic and have stories to tell, It can inject more imagination into the market.
For example, metauniverse is an imported product, which appeared in the 1992 American science fiction avalanche. In short, it belongs to the virtual reality world built by Ar and VR. Therefore, any company with AR and VR in the market can claim to have metauniverse related business. It is through the east wind of metauniverse that many companies’ share prices have stood in the wind.
However, in fact, from the perspective of business essence, metauniverse concept stocks have long been engaged in metauniverse related businesses, such as AR and VR businesses. Investors have long known the impact of this business on the company’s actual business. Therefore, VR and AR concepts can not support the sharp rise of stock prices of related enterprises. However, with the new concept of “meta universe”, the relevant companies and this business have become blurred, which leaves room for imagination and speculation to the market.
The concept of prefabricated dishes is the same. The actual things of prefabricated dishes have long existed. However, with the rapid development of cold chain technology in recent years, the continuous repetition of recent epidemic situations and the approaching of the Spring Festival, some pre-existing normal temperature preserved dishes, quick-frozen dishes and emerging refrigerated dishes have a new name. With the blessing of the new name, Some enterprises that were originally engaged in traditional industries such as aquatic products, food processing and catering and had no imagination space began to be given new imagination space. In addition, when the concept wind rose, the seller’s research institutions and listed companies “took advantage of the topic”, the stock prices of these concept stocks opened a soaring model.
According to wind data, since 2022, there have been dozens of securities companies’ research reports with “prefabricated dishes” in the title, and hundreds of research reports involving prefabricated dishes in the full text of the report. On the service platform of an institution, the research institutes of securities companies have organized dozens of prefabricated vegetable theme telephone meetings. In addition, the soaring list of concept stocks also shows signs of frequent buying and selling speculation of hot money, including some well-known hot money.
From the perspective of the later development of the speculation of new concept stocks, it is nothing more than the sharp rise of stock prices that has aroused the attention or inquiries of regulators. Under the pressure of regulators, the actual situation of enterprises in a certain field is often revealed, and the stock prices of most stocks will start to callback, but the callback is often limited and there are few illegal costs. This is also why the concept is illusory and uncertain, The reason why all parties involved in the market still go one after another. However, such phenomena obviously violate the original intention of the capital market and are easy to damage the interests of small and medium-sized investors, so they deserve attention and vigilance.
For listed companies, although the market value can be gained by “making use of the topic”, listed companies fight for long-term brand influence and reputation in the capital market and even market-oriented competition. Perhaps an enterprise can win a moment because of a concept, but it is also easy to ruin its lifelong reputation due to concept speculation. For example, Zoneco Group Co.Ltd(002069) , after the event of the disappearance of the company’s scallop, At the time of the recent attack on the concept of prefabricated dishes, the company quickly became involved in prefabricated dishes, but the eyes of professional investors are bright.
For investors, in the face of the new concept of groundless market, they should stay sober and always consider the investment value of the company from the aspects of enterprise business development, operating performance and future development, so as to avoid losses caused by follow-up speculation.
