Hong Kong stocks Accor Holdings plunged 98%, and the stock market's "sickle" is sometimes sharper than the currency market

On November 21, Hong Kong stocks Accor Holdings suffered a brunch. Tencent Securities market, the stock price once plunged 98.24%, fell to 0.26 Hong Kong dollars, 1 hour market value evaporated more than 45 billion Hong Kong dollars, the current total market value of the company is only 800 million Hong Kong dollars.

WX20191121-111546@2x Source of the market: Tencent Securities

According to official website information, Accor Holdings Limited (stock code: 3313.HK) is a full-industry chain brand operator integrating marble mining, production and processing, product development, high-end custom, and overall space solutions. China's largest gray-white marble mine, covering marble slabs, standard boards, craft surfaces, parquet, shaped, sanitary ware, handicrafts and home-made products, and distribution network covering more than 50 countries and regions in the country and the world.

Earlier, after Accor Holdings was included in the MSCI China Index, its share price doubled on the fourth day, hitting a maximum of HK$14.9 yesterday. In the morning session, Accor Holdings suffered a large sell-off of 1.95 million shares at the opening, and there were 22.22 million shares of the big sale at 0.5 HKD. In 1 hour, the stock price fell below the face value and became a penny stock. MSCI also announced today that it has suspended the inclusion of Accor Holdings in the MSCI China Index.

According to Tencent Securities, previously independent stock critics David Webb issued an article warning the former stock price bubble that the company's share price since the end of May has caused its share price to be about 24 times the net value of tangible assets, with a bubble of HK$29 billion. According to industry insiders, due to the lack of price limits, there are more phenomena of Hong Kong's shell stocks plunging and plunging. Basically, they do not look at the fundamentals. There is a possibility of sitting and manipulating. Investors should be cautious.

High bubbles, extreme price volatility, market manipulation, and the words often used to describe the cryptocurrency market, are clearly occurring in the securities market today. More than 95% of the decline in a few hours is even rare for the cryptocurrency market. Indeed, the risk and volatility of the encryption market is still greater than the securities market. However, encryption investors should also realize that not only the encryption market will “cut people”, but the securities market will also “cut people” and sometimes even “cut”. The trading market has never been warm and tender.