Core Insights - The article discusses the poor performance of Aifenda on its first trading day, where it opened high but closed down 4.36% at 71.51 yuan, resulting in significant losses for investors who speculated on the new stock [1] - The slowdown in new stock issuance has led to increased speculation and volatility, with new stocks often experiencing exaggerated price increases on their debut, which poses substantial investment risks [1] Group 1: Market Dynamics - The speed of new stock issuance affects market supply and demand; when issuance slows, new stocks become scarce, leading to potential speculative bubbles on their first day [1] - The article highlights that the inflated price increases are driven by short-term market sentiment and blind capital chasing, which can lead to significant risks for investors who buy at high prices [1] Group 2: Investment Strategy - From a value investment perspective, new stocks lack historical data and market validation, making it difficult to assess their true value [1] - The article suggests that investors should wait for stock prices to stabilize before investing, as this allows for a more accurate alignment of price and value, thereby reducing investment risks and increasing profit potential [1] Group 3: Psychological Factors - The article points out that speculative trading in new stocks incurs significant psychological costs for investors, who often seek quick profits and may end up buying high and selling low due to price volatility [1] - It emphasizes that excessive speculation relies heavily on market sentiment and capital; when these factors wane, stock prices tend to revert to their intrinsic values, making speculative trading less favorable [1]
艾芬达：上市首日跌4.36%，炒新风险大