We must know that the rise of Maotai is caused by the decline of other 80% shares, and the high price of Mala Tang should be maintained. If there is no incremental capital in the market, we can only sell other shares to protect Maotai, which is too expensive and ugly to eat.
Maotai this wave of adjustment, I saw around 1700, at least, so Maotai will fall after rebounding. After all, once the chips are loose, the first batch can't go back in the short term. So many theme stocks with good performance at the bottom are not fragrant?
Why did you hang yourself from a tree?
The wind and water turn, so does the stock market. It is not surprising that crows turn into phoenixes and blue chips withdraw from the market. This is also the charm of the stock market, with big surprise gains and huge scare losses.
The sudden decline of Kweichow Moutai is mainly due to the following reasons:
First, because Kweichow Moutai was reduced by the organization and cashed out on rallies, it was indeed a big fund that took the opportunity to cash out in Kweichow Moutai's high position, and the capital flight was the real reason for Kweichow Moutai's sudden plunge.
Second, because of the style change in the A-share market, the group shares fell collectively. Liquor is one of the hardest hit areas, along with military industry, tourism, construction machinery, new energy and medicine. The shares of these groups collectively collapsed, and naturally Kweichow Moutai also plummeted.
Third, because the super-large funds in the market are not optimistic about the stocks with high valuation, after the Spring Festival, the super-large funds are mainly speculating some stocks with low valuation, and the stocks with high valuation have all declined to varying degrees.
The high P/E ratio of Kweichow Moutai is more than 60 times, which is also overvalued. The sudden decline of Kweichow Moutai must be due to the market's killing of high-valued stocks.
Fourth, because Kweichow Moutai made up for the decline, Kweichow Moutai continued to rise in recent years, especially last year, when the strong remained strong and the new high was constantly refreshed.
In the stock market, we should always remember that when the stock goes up, there will be a big drop, and so will Maotai stock. It is impossible to only go up and not fall.
In short, Kweichow Moutai suddenly plummeted, not for a certain reason, mainly for the above four reasons.
Not sudden, is it? Maotai has risen for more than four years, and the valuation of liquor sector is seriously high. If it weren't for the special reason that consumer stocks were heated up last year, the market would have ended at the end of 20 19.
Although Maotai is the leader of the liquor industry and a profiteering industry, after all, the audience of the whole industry is shifting, young people drink less and less liquor, liquor has changed from daily consumption to standard banquet, and low-end consumer goods will turn to high-end consumer goods in the future. A single profit seems to increase, but the annual profit may be discounted, and a large number of wine companies will close down with the deviation of the audience. If it weren't for institutional hype, Maotai was hyped by middlemen, where did the money come from? Where did the market value increase by several times or even ten times? To put it bluntly, the previous group has overdrawn the performance expectation of the liquor industry for many years to come, and many poor performances follow Maotai. Now even the valuation of Maotai is seriously high. How's the whole department? Remember a word, there are no eggs under the nest.
Before the crash, the market value of a Maotai was equivalent to the total market value of the entire technology sector, and the market value of a liquor sector was equivalent to the total market value of 2,300 stocks. If this situation does not plummet, the circulation of liquor will be less and less, and the fund can continue to rise in an increasingly simple way and at a lower cost. Imagine what the market will be like. Are other plates still alive? Technology stocks with a net profit of more than one billion hit a new low, followed by liquor profits of 100 million to 200 million. In the long run, does anyone still believe in the value investment of A shares? Throughout the second half of 2020, liquor and new energy pulled the index, and almost all stocks were falling. Liquor has brought the popularity of the fund, but it has made the whole A-share market distracted and lifeless, and the retail investors are miserable. The market actually hit a new high after the bull market of 20 15. Under these premises, it is a miracle that Mao people can persist until now. It fell at least half a year later than expected. Can the current decline be called sudden? Look at the cliff-like decline of several big demon stocks in the bull market of 20 15, and it will be sudden.