What is a new issue? What kind of strategy should be adopted for ordinary investment operation of secondary shares?
1. What are the new shares?
Generally speaking, the listing time is short, there is no dividend, and the stock price is not obviously hyped, which is the three major characteristics of the new shares. The listing time of secondary new shares is generally within one year, and there are also person times in the market, and the period of new shares is relaxed to three years.
2. Why are new shares so popular?
From the fundamental point of view, most of the newly listed companies are of good origin and good quality. Under the current system, the Securities Regulatory Commission is more and more strict with IPO. Therefore, although the companies that can be listed can not be said to be one in a thousand miles, they will at least meet the standards in terms of operation, internal control and profitability.
In addition, the newly listed companies generally have sufficient capital accumulation fund and more undistributed profits. If these funds are used for the main business after listing, the company's share capital may expand in the future. If the company will be the capital accumulation fund stock, for investors, it is more likely to have high transfer and other advantages.
From the point of view of port operation. The IPO time is relatively short, and the previous financial statements have been carefully "filtered" by the CSRC. Therefore, when the annual report is released at the end of the year, it is not easy to have abnormal changes, which can avoid "annual report mine".
Secondly, for some stocks that have been listed for a long time, there are many shareholders who have been caught in the early stage. When the stock price finally rises and reaches the early peak, many investors who have been covered for a long time will sell their chips and untie them. But at the same time, it has formed certain resistance to the continued rise of stock price. This is not the case with secondary new shares. Because of this, when the market rebounds, the new shares often take the lead and become the strong pulling varieties in the stock market.
Finally, the circulating market value of secondary new shares is small, and the circulating stocks with "small plate" are easy to be pulled up and have a relatively larger rising space.
3. What kind of strategy should be adopted for ordinary investment operation of secondary shares?
Stock speculation mainly depends on two aspects, one is the fundamentals, the other is the direction of funds. As the new shares have not been the main speculation, has not been played bad, so look at the fundamentals is enough.
One is to pay attention to the industry situation of the company, especially the secondary new shares of small and medium-sized board. Some companies in the small and medium-sized board market, many of which are outstanding in the industry, have certain investment value, and their scale is small and the market operation is relatively easy.
Second, we should pay attention to the profitability of the company. Once the company is listed on the stock market, it obtains a lot of capital through the equity premium. Investors should first pay attention to where the capital is used, whether it is used for the main business, or for equity investment or some non recurring profit and loss items. Secondly, after a large amount of capital has been injected into the company, whether the main business of the company has increased significantly and whether the earnings per share is ahead of other companies in the same industry. In essence, a company is a tool to create wealth. The more cash flow generated after a certain amount of capital is invested, the better the company's profitability is. Of course, the more attention should be paid to its stocks. Finally, P / E ratio is a more intuitive standard. Generally, stocks lower than the average p / E ratio of Shanghai and Shenzhen stock markets deserve more attention.