Xin Jing Bao·2025-10-24 00:03Core Viewpoint - The recent surge in stocks related to the "horse" concept reflects a speculative trend driven by emotions, with significant risks involved. Long-term stock prices are expected to revert to their intrinsic value, and investors may miss out on genuinely promising assets by chasing such themes [3][9][10]. Group 1: Stock Performance - Since July, 29 stocks with "horse" in their names have shown a notable increase, with an average rise of 59.85% year-to-date, significantly outperforming the A-share market's average increase of 33.51% [4][5]. - Seven stocks have more than doubled in value this year, with Jinma Amusement leading at a 267% increase [5][6]. - In July alone, Jinma Amusement saw a rise of over 90%, while several other "horse" stocks also experienced substantial gains [5][6]. Group 2: Market Dynamics - The market capitalization of "horse" related stocks ranges from 3.5 billion to 37.6 billion yuan, with 13 companies exceeding 10 billion yuan in market value [6]. - Despite the impressive stock performance, many of these companies have reported declining revenues or losses, indicating a disparity in the underlying business fundamentals [6][7]. Group 3: Speculative Behavior - The phenomenon of "zodiac stock" speculation is characterized by irrational market behavior and information asymmetry, leading to a bubble-like environment where prices deviate from fundamental values [9][10]. - The rise of social media and financial self-media has amplified the emotional contagion effect, making simplistic narratives like "buying horse stocks in the year of the horse" more prevalent [10][11].