Source: Overseas Network
Police entered the "Next Media" building to search for evidence (Photo source: East Network)
Overseas Network, August 11 Hong Kong Police National Security Department arrested Hong Kong rioters and founder of "Next Media" Jimmy Lai on the 10th, accusing him of colluding with foreign forces, violating the Hong Kong National Security Law and conspiring to fraud. As a boss company, "Next Media" has experienced such major negative news, which will put pressure on the stock price. However, what is surprising is that its stock price has risen sharply for two consecutive days. Subsequently, a Hong Kong citizen wrote to the Hong Kong Securities Regulatory Commission, demanding that "Next Media" be suspended as soon as possible.
According to Hong Kong media, the stock price of "Next Media" has been changing significantly for days. At the close of the market on August 7 (Friday), the stock price was only HK$0.09. On the 10th (Monday), the highest rose 4 times to HK$0.4, closing at HK$0.255, still recording a 2.8-fold increase. A week ago, the market value of Next Media was only about HK$200 million, and by the 10th it was as high as HK$670 million. The market value of Jimmy Lai's shares also rose from HK$140 million to HK$480 million. On the 11th, Next Media opened higher at HK$0.45, once rising to a high of HK$1.96, and now it is at HK$0.98.
htmlOn 11, the Hong Kong Political Research Association posted on Facebook on social platform that the association's chairman Deng Decheng wrote to the Hong Kong Securities Regulatory Commission in his personal name, formally complaining that the latter did not suspend Next Media in real time, which eventually caused the stock price of the relevant stocks to change significantly in the market, which may damage investors' rights and affect the reputation of the Hong Kong stock trading market. He asked the Hong Kong Securities Regulatory Commission to correct the error as soon as possible and suspend Next Media immediately until the incident is reasonably explained.In a report on the 11th, Hong Kong's Ta Kung Pao said that "Next Media" has been recording losses in recent years, with a huge loss of HK$415 million in fiscal year 2019 alone. A shop has such poor performance and its major shareholders are furious about Guan Fei, why does the stock price turn in the opposite direction? According to relevant data, the stock's "big hands" and "super big hands" buying and selling on the 10th accounted for about 80% of the total transaction volume, and only about 10% were "retail investors" trading.
Hong Kong media said that stocks with strange and weird stock prices are usually called " monster stocks " in the stock market. Their trends are contrary to the market or common sense and are completely incompatible with the basic technical analysis rules. Some people define it as "monster stocks" that are obviously abnormal than other stocks. They are unreasonable and difficult to understand. Generally, they are surges and plummeting. It is obvious that the listed company is in losses, but it keeps hitting the daily limit; it is obvious that the company's stocks cannot reach such a high price, but it is rising very high. Nowadays, the stock price performance of "Next Media" makes people smell the atmosphere of "monster stocks". As for whether there is foreign political funds behind "Next Media", it may always be a mystery, but for ordinary investors, "monster stocks" are "monster stocks" and cannot be touched!
Jimmy Lai was handcuffed by the police at 9:40 on the 10th and took him away from his residence. The police then sent personnel to search for evidence in batches at the "Next Media" building, the restaurant "Four Seasons Fresh Meals" run by Jimmy Lai's second son, and escorted Li to return to the office of Next Media to assist in the investigation. Then they escorted Li to return to the Mong Kok Police Station. Zhang Jianhong, CEO of Next Media, was also taken back to his office to assist in the investigation. The Next Media building was unblocked at about 2:30 pm. The search took nearly 5 hours, and the police took away about 25 boxes of evidence. (Overseas Network Zhang Qi)
