After The Dragon Boat Festival, The Gem Price Has Shrunk By More Than 50 Billion.

June 28th

In the early June,

However, after the Dragon Boat Festival, the situation reversed, after a sharp decline in the gem index.

The gem index fell by 5.11% in June 17th, while the Shanghai Composite Index fell only 0.38% on that day.

In June 18th, capital flee and let the gem become the hardest hit area again. The gem index ended at 1000.28 at that time, or 6.06%.

Since then, the -24 June 21st gem index has rebounded briefly, but the trend of the downward trend has not changed.

In the past two trading days, the gem index fell 3.27% and 2.8% respectively, and continued to lose the market.

From June 1st

Jiangnan securities research report that, in the case of A shares market slump, the hot money of small cap stocks caused the early surge of the gem, but the small stocks that were continuously stir fried were also vulnerable to profits or unwinding. Under the influence of fast moving and fast coming out of the hot money, large fluctuations in the gem index were inevitable.

In the wake of the long decline of the gem index after the Dragon Boat Festival, the stock price of some GEM stocks suddenly shrank.

Statistics show that as of June 28th, the current stock market value of 86 comparable GEM stocks (excluding new stocks listed on the 25 day) totaled 363 billion 298 million yuan, representing a total reduction of 50 billion 663 million yuan compared with the 413 billion 961 million yuan at the end of June 11th.

In terms of stocks, 81 GEM stocks fell after the Dragon Boat Festival, accounting for 94.19% of the total stock.

During the period, more than 10% stocks fell by 50, accounting for 58.14% of the total stock.

Among them, the red sun pharmaceutical industry fell 20.81%, ranking the top of the gem decline.

In addition, Le Pu medical, Wan Bang Da, robot, Shenzhou Tai Yue and North Lu pharmaceutical industry during the period also fell more than 18%.

Under the dragging down of the stock price, the breakup team of the GEM board quickly expanded.

As of June 28th, the number of GEM stocks has broken up to 22, double that of June 11th.

It is worth noting that the latest closing price of Jinsheng shares listed in May 20th was only 30.10 yuan, which shrank by nearly 16.39% compared with the issuing price of 36 yuan.

Overall valuation fell sharply

Analysts pointed out that

Market participants believe that the recent market continued to oscillate in the 2500 point -2600 point range, to a certain extent, restricted the action of the gem. At the same time, under the influence of the agricultural bank listing and macro-control policy expectations, the market funds face is relatively tight, which makes gem's high valuation risk quickly exposed.

With the recent callback of the gem, the average price earnings ratio of the gem has rapidly declined.

Statistics show that in June 28th, the weighted average price earnings ratio of 90 GEM stocks has dropped to 67.40 times, and has gradually returned to a rational direction.

In addition, judging from the recent listing of new GEM stocks, its overall valuation continued to continue to fall.

For example, the average price earnings ratio of new Daxin material, the Great Wall group, Sheng Yun shares and Jin Tong Ling dropped below 53.69 times in June 25th, which has been significantly lower than the overall valuation level of the current growth enterprise market, indicating that new investors have gradually become rational.