Chapter 345 - Chapter 345: Chapter 345: Sold at a Sky-High Price (1/2)

Chapter 345: Chapter 345: Sold at a Sky-High Price

Second day, nine in the morning.

Chen Yu was sitting in the office on the top floor of the building, staring intently at the screen of his laptop.

The moment the stock market opened, his fingers were already positioned on the keyboard.

All the floating shares put out were completely bought by Chen Yu in no time.

With this move, the privately held company of Chen Yu and Huang Ban Cheng now held more than fifty-three percent of Xiangyun Restaurant’s shares.

At the same time, the funds that Chen Yu injected into Xiangyun Restaurant’s concept stocks exceeded the original pricing, causing its floating shares to be priced at a premium.

That is to say, Xiangyun Restaurant had to issue more floating shares.

In fact, Chen Yu was merely exploiting loopholes present during the listing of concept stocks.

During this period, there would be a protection phase for the stocks based on some rules of the stock and financial markets, where the excess premium must be covered by issuing additional shares.

In the office on the top floor of Xiangyun Restaurant, all the veterans had assembled early, eager to see by how much their net worth would multiply after the listing of their concept stock.

However, to their surprise, even though all the floating stocks were sold out after the listing, there was not the slightest change in the share price.

“Ban Cheng, what’s going on? Logically, since all the stocks have been sold out, the share price should at least double. Why is there no movement at all now?”

Huang Ban Cheng had already discussed the countermeasures with Chen Yu and, excited, he rushed to the large screen.

“Everyone, according to the rules of the stock market, our share price will double in less than an hour. We need to release more floating shares now. I am willing to contribute all my remaining shares.”

These words immediately caused a huge commotion at the scene.

Most of these people had outdated thinking. Although they knew the stock market could make money, they did not understand the specific rules involved.

Hearing what Huang Ban Cheng said, many became impulsive, with some even considering giving away all their shares as well.

But still, some people remained calm, knowing that shares are more powerful when held in hand, waiting for the share price to change was the real deal.

For a while, many people were hesitant, but Huang Ban Cheng didn’t care so much and just pretended to type on the keyboard for a bit.

“Done, I have sold all the shares I had.”

Now, many people started to feel uneasy. Although all their shares had been sold, they still had ownership in the company.

As long as the share price would rise in the end, they could still sell the equity at a sky-high price.

Instantly, half of the people sold all their shares.

Indeed, once all the shares were sold out, the share price immediately began to climb rapidly.

Everyone in the office became excited. After all, they were old and didn’t want to waste time at Xiangyun Restaurant. If they could get enough money, it would allow them to live the rest of their lives in comfort.

At this moment, Chen Yu was sitting in front of the computer, typing rapidly on the keyboard.

He had just sold all the shares he controlled.

In the beginning, the share price soared exponentially, nearly quintupling, but then was abruptly cut in half, and afterwards steadily declined until it was even less than half of the original price.

Without much hesitation, Chen Yu bought back all the previously released shares at the lowest price just before the market was about to close for the night.

All the veterans of Xiangyun Restaurant were sitting dumbfounded in the office, faces filled with gloom.

“What on earth happened? It was all fine this morning, how come it plummeted so much by afternoon?”

Many of the veterans were outraged, now the price was even lower than before the market opened.

Ban Cheng hummed, “I told everyone to sell all their shares this morning, but you didn’t listen. What’s the use of regretting now?”

With those words, everyone fell silent.