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The fall of Baosteel's share price completely extinguished the dream of bulls to rise to 1200 points!
Yesterday, Baosteel's share price moved below its exercise price of 4.50 yuan throughout the day, with the highest price of 4.49 yuan and the closing price of 4.46 yuan（ information quotation forum ）Its theoretical value is -0.04 yuan. The share price of Baosteel closed below 4.50 yuan for two consecutive days, which can hurt the holders of Baosteel warrants. The Baosteel warrants plummeted for two consecutive days. After a sharp drop of 7.8% the day before yesterday, they fell 15.43% again yesterday, from a high of 2.088 yuan to 1.409 yuan yesterday, a sharp drop of nearly 30%.
Investors have accused Baosteel's major shareholders of not fulfilling their commitments and not keeping the promised price of 4.53 yuan. A spokesman for Baosteel said, "It is because investors have misunderstood Baosteel's commitment. We promised to increase our holdings of tradable shares when the stock price is lower than 4.53 yuan, but there is no guarantee that we will stick to 4.53 yuan. We have invested some funds to buy back the outstanding shares, and we will definitely make an announcement after the completion of our 2 billion yuan shareholding increase plan. "
Careful investors found that on August 25 and 26, there was a purchase order for more than 30 million shares at 4.53 yuan. By Monday, August 29, the purchase order for 30 million shares had suddenly disappeared, which frightened Baosteel's investors, because it indicated that Baosteel Group would give up the protection at this price. Baosteel's selling increased instantly, and the exercise price of 4.50 yuan was defeated. The market also fell 25 points in two days.
According to market analysts, Baosteel gave up the defense of 4.53 yuan share price, which may be due to the change of its shareholding increase plan. According to the spokesman of Baosteel, "I don't want to give short sellers a chance". Some people familiar with capital operation believe that Baosteel may want to gradually buy tradable shares below 4.50 yuan, and the lower the cost, the better. Even if it is locked up in the future, it can also buy at a low price through warrant exercise shares Then sell it to the circulating shareholders for 4.50 yuan, and make no loss.
Baosteel broke its promise and was denounced by many investors on the Internet. Some investors accused Baosteel of misleading investors by playing word games. Maybe only Baosteel knows the truth.
If the share price of Baosteel is lower than 4.50 yuan for a long time, it will definitely be the biggest negative and disincentive for Baosteel warrants, because it proves that the warrants are worthless, and the speculators of warrants will greatly converge. Wen Guoqing, an analyst with Hexun Information, believes that even if Baosteel warrants only calculate the time value, the maximum value will not exceed 1 yuan, and there is still at least half of the adjustment space for the current warrant price.
Therefore, it is the inevitable ownership of Baosteel's warrants to fall below the integer level of 1 yuan.
Lingjia
Sina statement: The content of this article is purely the author's personal view, only for investors' reference, and does not constitute investment advice. Investors operate accordingly at their own risk.
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