Reinventing the Millennium.

Discussions about Yike in the media are increasing significantly.

Many short-selling institutions are still dissatisfied with using the pen of the media to tell stockholders. Instead, they show their chariots and horses in person to point at Yike’s nose. This company is being shorted by us. Don’t look at it’s 200 billion now There is a huge bubble in it.

Because of the existence of Kong Yu, the person in charge of the MIGA Fund, Fang Zhuo has relatively clear information about relevant institutions.

In addition to Paulson, the king of short-selling who has spoken out twice, there are now both established short-selling institutions and hedge funds that have just transformed. Some are aggressive in style, and some are relatively cautious. Pen.

Fang Zhuo also saw such rhetoric in the gasoline man's report document - earn back from Yike the money he lost in the financial crisis last year.

In response to this situation, Fang Zhuo has released the market information by raising stocks, and he is already planning the company's repurchase. He himself has been increasing his shareholding, but there is really not much he can do.

At present, from the perspective of a non-professional Fang Zhuo, the consequences of Yike’s suspension of sales have actually been partially dispelled. He also talked about this in front of the media. This may not be conducive to short-selling signals, but It belongs to the preparations that the company must have.

It stands to reason that with such a new machine connection as a base, Apple's similar statement, and the news of Microsoft's end gradually dissipating, the so-called bubble in the company's stock price should not be so many, and shareholders should distinguish right from wrong.

But in fact……

Still from the perspective of non-professionals, the stock price crash may not be based on facts at some point, but the spread of panic.

"Well, since you need...cough coughcough..." Xiong Xiaoge really coughed this time, and looked at Boss Fang in astonishment, what a ruthless man this is, even his temperament has changed!

Today's major shareholder holds 41.8% of the shares, and the sum of the two has already reached 81.86%.

"This is Pete, the chief investment officer of the hedge fund P&T. He has spoken out frequently a while ago, and he is an aggressive hedge fund investment manager."

As of March 3, Fang Zhuo held a 20% stake in Yike.

According to Kong Yu's arrangement, after the holdings of the two institutional shareholders are locked up, Shenxin Kechuang holds 3.7% of the shares, Xiangjiang Huanyu holds 3.16% of the shares, the third-party talent option pool set up by the company is 3%, Sina 0.3%, and then Plus 25% of private option lock-in.

Fang Zhuo thought so, but he didn't expect that when he arrived at the live broadcast the next morning, he really saw the enthusiasm of the short sellers.

Kong Yu even complained about the boss when he reported the situation face to face.

Fang Zhuo smiled slightly, but he was willing to hear Lao Xiong's praise of Bingxin.

Later, IDG, Capital Today, Sony Music, co-founders and other shareholders successively cashed out their shares for various reasons, and his shares were also reduced to 33.4% due to improving life.

This improvement process was interrupted by Lehman's short-selling, and the shares did not change.

There will be a data delay in the half-monthly update, but this is enough for Fang Zhuo to judge his own position conditions and when to harvest.

After Xiong Xiaoge arrived at the office and exchanged pleasantries, he sighed without hinting.

Fang Zhuo sent the old bear out, and began to think about what kind of good news he could release tomorrow morning. Although he hoped that the cost of raising money would be lower, he also didn't want the stock price to be filled with specious information from the short sellers.

He felt that the 7% short position was not lively enough on the one hand, and on the other hand, it also raised the run-off line for his own holdings.

He said: "If Zhang Rujing sat in front of him, he would say, we will definitely be able to catch up with Tai Ji, if it was Qiu Ciyun, he would say, let's catch up, if it was Liang Mengsong, he would definitely say, give me a few years and I will surpass it .”

In other words, Yike's current tradable shares in the stock market are 18.14%.

Fang Zhuo felt a little regretful, as the company became bigger and stronger, many methods could no longer be used.

Xiong Xiaoge took two sips of tea: "I'll go to IDG in the afternoon, um..."

Anyway, just hedge on both sides to see the effect.

Fang Zhuo still vaguely remembered the news that Apple and Tesla alternately became the most shorted companies in the United States.

He poured himself half a cup of tea, and said with emotion: "I came to Luzhou half a year ago and I came to Luzhou this time. In just half a year, it seems that there has been a lot of growth. The ice core is really blooming in your hands. Is it really possible to catch up with Taiji?"

However, when it comes to the investment of real money, it may be that the combination of Yike and Apple has indeed lowered the anticipation of the effect of the lock-up. Although many short-selling institutions have maintained their attention to Yike’s stock price, they still have not easily invested in it.

If you want to meet the conditions for a run, Kong Yu believes that the major shareholders need to increase their holdings to at least 48%, and then look at the positions of the short side to decide whether to continue to absorb chips.

Companies such as Apple, Tesla, Microsoft, and Amazon are often at the forefront of short selling in US stocks.

Fang Zhuo replied directly: "No need."

According to ITC's ruling process news and exchange update frequency, March 3 at the end of this month and April 31 in the middle of next month, these two time points are the key judgments, and before that, Kong Yu still hopes to attract Come more short institutions.

"This is Nils, the founder of the hedge fund Satori Fund. He is not well-known. He encountered a financial crisis just a year after his debut. He was lucky enough not to jump off the building. This time he wants to make some money."

"I'm coming to the United States this time, cough, cough..." Xiong Xiaoge coughed intelligently, and then said after a few seconds, "Besides the company's business, I also want to take this opportunity to ask you if Ice Core needs help. ?”

Xiong Xiaoge nodded. The NBC channel has quite a big influence. If you don't have a meeting tomorrow, you can open it and have a look.

Many and empty face to face.

"Yike's market value is not bad, um, but if it is too high, it is easy for short-selling institutions to find bubbles." Fang Zhuo answered slowly after listening to Lao Xiong's careless words.

Now, based on the analysis of the ability of 0.3 professionals, the increase in the cost of raising funds is becoming more and more obvious.

"Although IDG's investment in the United States is not much, it is also very aggressive."

As long as the short position is higher than the tradable shares, it is the release of the hunting signal.

That is to say, I made some money during the financial crisis, otherwise I really couldn't carry it like this.

"It gave me a lot to think about..."

Kong Yu is very patient. He continues to use the vest to seduce his peers, hoping to double the short position to at least 14% within half a month to a month.

"Don't worry, I'm teasing you." Fang Zhuo took a sip of tea, looked at the sneaky expression of the old bear, and said cheerfully.

When the live broadcast was discussing the company's market performance, the host John suddenly interrupted and introduced today's guest lineup, which came from the top management of three short-selling institutions.

"NBC's financial TV station, nine o'clock in the morning, oh, that's CNBC." Fang Zhuo replied.

On this point, the short and the long sides can probably reach some agreement. The short sellers are happy to see bigger bubbles, but he is waiting for the final short squeeze moment.

From online to offline.

Xiong Xiaoge sat back on the sofa with a heavy heart. After all, he had some scruples and didn't dare to continue talking about the topic he wanted to talk about.

This is today's live broadcast content.

"This is Andrew Left, the founder of the Stock Lemon website, known as the bounty hunter of Wall Street."

In the data update of Yike stock on the exchange on the 15th, the short positions totaled 18.2 billion US dollars, accounting for about 7% of the shares at that time.

In the past two days, Yike's stock price rose back as the market digested the news of the company's stock repurchase.

Regarding the short selling of the stock market, large companies often face such a situation.

The Nasdaq Exchange will update the short position disclosure every half a month, including only stocks listed on the Nasdaq Exchange.

Fang Zhuo said with a smile: "I mean, I don't know if there is monitoring, but the anti-monitoring equipment in the office can still speak."

"Okay, I'll give you a number, wait for the number to be called." Fang Zhuo didn't refuse to the end, Bing Xin still needs money after all, but this is not the focus at this stage.

But capturing such a signal... is actually extremely simple.

Xiong Xiaoge added another word: "And shock."

"Counting Yike, downstream packaging and testing and surrounding areas, the ecosystem of Ice Core has been initially constructed."

"You don't want to be a venture capitalist. You don't know the pressure of partners. Well, I'm here to be trained today." Xiong Xiaoge said helplessly, "Anyway, I can't help Yike here. Now I can call the shots and make another shot."

He frowned for a while, and sighed: "I'm paying attention to the short-selling situation that Yike is facing. There are so many people staring at Yike now. Is it true that the market value has rebounded too well?"

Xiong Xiaoge was stunned for a while, and said sincerely: "I went to Luzhou before I came to the United States, and then went to Lin'an and Shencheng to see the situation of the two factories of Bingxin. The semiconductor industry in Luzhou has been formed. And continue to grow, the Lin’an No. [-] factory is a little bit affected by DRAM, and the sensor production line of the Shencheng No. [-] factory is very good.”

"Mr. Fang, don't warn them. Those people are like a group of monkeys with hair on their faces. If you keep warning like this, maybe you won't even reach 10% in the end."

On March 3, Fang Zhuo met Xiong Xiaoge, a well-known investor who flew to the United States, after the President Office of Yike New York received support from ICBC in China.

However, compared to the previous increase in holdings, his capital cost after exceeding 40% began to soar in units of [-] million.

Fang Zhuo was also very helpless: "Paulson called me naive by name, how could they be afraid of warnings from a naive person like me?"

Fang Zhuo watched the entire financial crisis from the sidelines last year. This year, he witnessed what the short-sellers wanted to achieve. He has some experience, which is almost equivalent to 0.3 professionals.

Before the host had finished introducing the guests, Fang Zhuo looked at the three people who were smiling, serious or nervous, and had already silently recited their identities in his heart.

Before going out, Xiong Xiaoge asked, "Which channel?"

Such an increase in tradable shares will directly and significantly increase the cost of capital. Although it can be passed on to the other side eventually, the upward performance of a company of such size as Yike will be extremely astonishing, and it will easily lead to more scrutiny.

"The same goes for Paulson. He only talks there, and his hedge fund has never heard of making a move. If he is a short-selling king, if he really makes a move, the effect will definitely be better than our institution in Chicago." Kong Yu was very envious of Paulson at this time. Fame, easy work.

"Old Bear, today you perfectly fit my stereotype of venture capital." Fang Zhuo frowned and said, "Although you people have superb financial skills, you can't rush if you have benefits, or withdraw if you don't have benefits. Look at it. You, when it comes to field investigations rather than concepts on the data, you have another idea in your mind."

"Oh yes, tomorrow I have a live interview on New York TV. I still want to talk about the company's optimistic situation after the lock-up. You can watch it if you have nothing to do." Fang Zhuo thought about tomorrow's arrangements.

Xiong Xiaoge was taken aback, and immediately kept silent.

"Hey, in other people's places, after all, you can't fully use your fists." Fang Zhuo has nothing to do with this, he can only talk about Yike in Bloomberg, "New York Times", "Washington Post", Twitter and other places.

Fang Zhuo spread his hands, it is really unnecessary, Brother Wang gave the money.

"There won't be monitoring here, right?" Xiong Xiaoge got up from the sofa and paced around the office, his eyes seemed to be able to see through the walls and ceiling.

Xiong Xiaoge was silent.

Xiong Xiaoge resisted the urge to ask and nodded slightly, feeling President Fang's confidence this time.

Coupled with the 4.9% of MIGA Fund's key client funds buying without reaching the line of placards, this is 40.06%.

Xiong Xiaoge talked about his observations after arriving in the United States: "I was watching TV in the hotel last night, and I even changed the financial content of three channels, all of which were talking about the bubble in Yike's stock price. Do you have no money to buy navy? ?”

Fang Zhuo glanced at the old bear, and said nonchalantly: "This is in the United States, maybe what you say now is being monitored."

It's a pity that Paulson can only be an ally for a certain distance. Now that he has made money, he can't cooperate with the outside world after he makes money.

Until Yike's weakness in the patent level was magnified, Fang Zhuo planned to make up for possible losses from the financial level, and coincided with the impact of the financial crisis, his shareholding gradually increased to 35%, 37.5%, 39%...

This is a total of 35.16% of the shares that will not move.

Fang Zhuo himself had once been Jobs' uninvited guest, and today he was tricked like this, and he didn't show any panic other than accident.

Xiong Xiaoge flew to the United States this trip to talk to IDG about work in China. By the way, he also came to see Mr. Fang who is on the cusp of the crisis.

"Well, my own knife can't cut my own handle, so go." Fang Zhuo said.

The stock price needs to be stable, no matter whether it rises or falls, but it must be stable, and we can wait until the end of the month to see the enthusiasm of the short sellers.

When Yike was first listed, Fang Zhuo held 34.215% of the shares and was the largest shareholder, followed by IDG, Capital Today, and management.

The bounty hunter Andrew, the aggressive short Pete, and the blood recovery rookie Dennis.

It's a pity that the show failed to invite Paulson, and I haven't really met the short seller face to face.

Fang Zhuo rubbed his fingers, feeling a little regretful.

"Mr. Fang, you don't mind our sudden attack?" The host John asked the head of Yike with a smile after briefly introducing the guests.

Fang Zhuo sat on the sofa, crossed his legs, and nodded slightly: "Of course not, I'm also very interested in seeing the tricks of short-selling institutions in person."