Financial News
Written by: Zhang Weilun
2019-11-21 17:12
Last updated date: 2019-11-21 17:12Accor Holdings (3313), regarded as the myth of Hong Kong stocks this year, was suspended due to the decision of MSCI Index to suspend the company's inclusion in its index. In September of this year, investors were advised not to touch Accor's senior investor David Webb, pointing out in his blog that today's Accor performance just confirms that the warning issued on the day is correct.
Accor’s rise this year has taught investors an surprise. On September 15 this year, David Webb pointed out in the blog that from the end of May to September 13 this year, the company's share price has increased by 812%. On September 13, the closing price was 9.48 yuan, and as of the end of June this year, the net tangible assets per share was 0.37 yuan.
In the second half of this year, Accor conducted two transactions, all of which were paid at the issue price of the issue price, and the issue price was 0.81 yuan. Taking into account the assets of the two acquisitions and the number of additional shares, the net value of tangible assets per share is 0.4 yuan, and the closing price of the day is 24 times of the tangible assets per share. At the same time, the CCASS positions were reviewed. The top 10 banks and securities firms held a total of 84.03% of the issued share capital of Accor.
One-day market value evaporated 45 billion yuan
After David Webb’s warning was issued, Accor’s share price had fallen sharply, but at the beginning of this month, the company was included in the MSCI index, which will take effect after the market closes on the 26th of this month. The news drove the stock price to rise 40% on November 8. David Webb ridiculed MSCI, pointing out that as long as Accor is removed from the portfolio, investors can easily outperform the index until the SFC intervenes on the 26th of this month.
The inclusion of the MSCI index became the reason for Accor's share price. At the same time, the company announced on the 11th of this month that it intends to introduce mainland mining companies, and its share price continued to climb. From the 7th of this month, the cumulative increase has reached 1.28 times.
With the suspension of MSCI's suspension of Accor's suspension into its index, the stock price fell sharply from a high level, and the market value of a single day evaporated by 45 billion yuan. David Webb described Accor's bubble as being pierced.
[Transactionary stocks] Accor Holdings, half a day, 16%, temporarily, nine consecutive rises, proposed to be allotted to the mining company
David Webb once named Accor and was suspended from MSCI's disguised stock index.
Transaction stock David Webb
