In the past month, Guizhou Maotai’s market value evaporated more than 510 billion yuan.
“Guizhou Maotai, the No. 1 A-share company, fell below 2,000 yuan (RMB) per share on March 8, the second Time this year that it has fallen below this important mark, and Guizhou Maotai’s market value has evaporated more than 510 billion yuan in the past month.
As of the close of trading on March 8, Guizhou Maotai shares were down 4.86% at 1,960 yuan per share, according to “Times Business”. In the past month, Guizhou Maotai’s share price has fallen by about 17%, and its market value has evaporated by more than 510 billion yuan.
In addition to Maotai, the liquor sector sank across the board on March 8. By the close of trading, Luzhou Laojiao and Shanxi Fenjiu fell, Gujing Gongjiu, Wuliangye, Yanghe shares and so on have plunged. According to wind data, the liquor index fell more than 6%.
As the No. 1 high-priced stock in A-shares, Guizhou Maotai’s every move is of great concern to the market, and the 2,000 yuan mark is more like a wind vane.
Just two months ago, on the first trading day of 2021 (Jan. 4), Guizhou Maotai’s intraday share price broke through the 2,000 yuan mark for the first time, followed by a wild ride to an all-time high of 2,627.88 yuan per share. But recently, after only 13 trading days, Guizhou Maotai’s share price quickly fell below the 2,000 yuan mark.
On Feb. 18, the three major A-share indices opened higher and lower. Guizhou Maotai fell more than 5% and its market value evaporated more than 160 billion yuan. Driven by Maotai, alcohol stocks collectively dived to a high level.
A day before that, Guizhou Maotai Liquor Co. released the news that Wang Li, chief engineer and chief quality officer of Maotai Group, was shortlisted for co-option to the Chinese Academy of Engineering.
The news sparked public controversy as soon as it was released. Some industry insiders mocked, Maotai market value evaporated 160 billion, why fell so much, not Maotai engineer Wang Li were selected as academicians, Guizhou Maotai has been the authentic science and technology stocks, does not belong to the liquor stocks.
A well-known fund manager in Shenzhen told Firstrade that the current inflated valuation of liquor stocks has exceeded the margin of safety.
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