Core Viewpoint - *ST Guandao (839680.BJ) has experienced extreme market fluctuations, with a significant price increase of 29.94% on July 31, despite having issued seven delisting risk warnings. The stock's price surged from a limit down of 6.60 yuan to a closing price of 12.24 yuan, reflecting a cumulative increase of 356.72% since June 25 [2][3]. Group 1: Stock Performance - On July 31, *ST Guandao opened at a limit down price of 6.60 yuan and saw a rapid increase of 20% within one minute due to large buy orders, eventually closing at a limit up price of 12.24 yuan with a trading volume of 2.31 billion yuan and a turnover rate of 51.63% [2]. - The stock has recorded six instances of 30% limit up within seven trading days, indicating a highly volatile trading environment [2][3]. - The stock's daily fluctuation reached 59.87%, showcasing extreme volatility in its trading activity [2]. Group 2: Trading Dynamics - Following the third suspension for verification, previous suspensions had not deterred speculative trading, instead reinforcing the expectation that scrutiny would lead to price increases [2][3]. - The trading activity from June 25 to July 16 revealed a shift from institutional to retail investor participation, with over 20 different trading seats appearing on the leaderboard during this period [3]. - On July 31, retail investors accounted for a significant portion of the trading, with the top five buying seats dominated by retail accounts, indicating a growing involvement of individual investors in the speculative trading of *ST Guandao [3][4]. Group 3: Regulatory Environment - The Beijing Stock Exchange has previously imposed maximum penalties on two individual investors for their roles in manipulating the stock price, highlighting regulatory scrutiny in response to extreme trading behaviors [3]. - The stock has been under scrutiny due to allegations of significant revenue inflation, with a reported cumulative inflated revenue of 1.465 billion yuan from 2018 to mid-2024, which could lead to mandatory delisting [4]. Group 4: Market Recommendations - Market experts suggest that the trading rules for stocks at risk of delisting should be tightened, proposing adjustments to the price limits for buy orders to mitigate excessive speculation [5]. - There is a consensus among industry insiders that ordinary investors should avoid participating in such speculative trading activities to prevent being left holding the bag before potential delisting [6].
地天板！7次退市风险提示后 再遭“爆炒”