Three gold, million horse after the first day of inflation both fell

Daily economic news July 14 on the Friday listing of two new shares-Guilin three gold (002275, closing price of 33.07 yuan) and the Million horse cable (002276, close 25.42 yuan) both to fall, million horse cable closed down 1.97%, and Guilin three gold fell 8.16% closed.　　It is noteworthy that in Guilin, the three gold plunge at the same time, the entire pharmaceutical sector has reversed the city, two-phase contrast, it is not difficult to see that the new shares in the first day of inflation, began to embark on the road of value return. "Golden Horse Combination" both killed yesterday morning, two new shares to fall off the opening price, a collection of auction shows that some people to drop the price of 863200 shares and 1.6542 million shares of three gold and million horse. Within 10 minutes of the opening, two new shares are struggling. 9:40 points, two stocks only began to shock rebound, Guilin three gold trend slightly weak, the day has not broken through the closing price of 36.01 Yuan, and the Million horse cable disc in the red, the rise of the highest approximation of 6%.　　Then the two stocks began to shake down and closed down. Yesterday, the pharmaceutical sector as a whole is in the rising trend: 135 stocks in the plate, 3 stock trading, 95 stocks turned red, and the same cable shares of the treasure wins (600973, closing price 18.51 Yuan) rose 6.01%.　　Industry analysts believe that it is clear that two new shares independent of the trend of the plate.　　Fried too high is the root cause why two new shares will appear on the first day of the rally, then fell the "day" market?　　Analysts believe there are three reasons for this. First, the new distribution system will be a large number of institutional funds blocked in the possibility of the group outside the IPO, resulting in more than the small and medium-sized investors, because the retail funds do not have the group offensive, can not dominate the stock market movement.　　So on the first day of the Rush High School, the retail majority has fled, did not flee the next morning also in a hurry to flee, making it difficult to continue the upward or even fall. Second, from the valuation of two stocks, the issuance of the P/E ratio has been close to level two market, after the first day of passion release, valuation is significantly higher than the industry average, the rise no longer has the mass base.　　From the first day of the two billboard, there is indeed no institutional capital to buy. Third, even if there is money to enter, but in the short term also difficult to set off a wave of market. Public information shows that the first day of the two-day death squads, but enter the funds are not small, such as the state letter securities Shenzhen Nine Road sales department to buy 9.44 million yuan, sell 7.23 million yuan, net buy only 2.21 million yuan.　　From yesterday's trading billboard look, still is the sales office seats have to buy and sell. Industry analysts believe that two new shares of small, fundamental good, even if there is money to hype the stock, still need sufficient time to absorb chips, and in the process of absorbing chips do not rule out the possibility of a substantial kill, and its own high valuations, short-term recommendations investors do not blindly grab rebound , even if the participation has to wait until it falls a certain extent, the market began to hype the new shares, only to do a rebound. (This article comes from: everyJapanese economic news Author: Song Yuandong)