This may be the time when Chinese Internet companies need confidence the most. In the past week or so, the Chinese concept stocks going to the United States have ushered in an unprecedented continuous decline. The Nasdaq Golden Dragon China Index, which measures the overall performance of Chinese concept stocks, has fallen by special database more than 10% for three consecutive trading days, setting the largest single since the subprime mortgage crisis. Daily drop record. Didi's share price fell 53% in a single week, and its market value has fallen below 10 billion US dollars.
Shell fell 31% in a week, fell nearly 20%, Meituan fell 18%, and Tencent and Alibaba both fell more than 8% in a week. And this "tragic" short-term market continues this week. As recently as February 2021, most Chinese Internet companies listed on Hong Kong special database and U.S. stocks were still at record highs. According to Gelonghui statistics, from February 18 last year to the close on March 14, 220 Chinese concept stocks fell by more than 50%, 127 fell by more than 80%, and the market value of the interval evaporated by nearly 10 trillion yuan. In just one year, all the gains have been erased.
Leaving behind a future that people cannot see clearly. Source: Gelonghui APP Some people commented that the "golden age" of Chinese Internet companies is over, and this week's "heavy hammer" is just waking up the last batch of people pretending to be asleep. Because the performance of the secondary market is too abnormal, it is hard not to special database wonder if there is a "mysterious force" behind it that hunts down the Chinese Internet. But we have to admit that even if the stock price performance is completely put aside, the problem of transformation is also in front of China's Internet.