上市三天跌掉三成，40元追高的人现在账户浮亏近30%，把‘打新必赚’的定律直接撕碎

Core Viewpoint - The stock of Marco Polo experienced a dramatic decline after its initial public offering, raising concerns about its financial sustainability and market performance. Company Performance - Marco Polo debuted on the Shenzhen Stock Exchange at an issue price of 33.10 yuan, reaching a peak of 40 yuan on the first day, representing a 191% increase, but closed at 31.46 yuan, leaving a significant downward trend [1] - Over three days, the stock price fell from 40 yuan to 28.54 yuan, a decline of 29%, resulting in all investors who bought during this period being trapped without any opportunity to lower their costs [4][6] - The company forecasted a net profit of 1 to 1.05 billion yuan for the first three quarters of the year, which represents a year-on-year decline of 7.7% to 12%, marking two consecutive years of negative growth [7] - The actual controller, Huang Jianping, also controls another listed company, Qitong Co., which has been struggling with continuous losses and low revenue, raising concerns about Marco Polo's future [7][8] Market Sentiment - Investor sentiment turned negative quickly, with many expressing frustration over the rapid decline in stock value, leading to a perception that new stock subscriptions are akin to financial losses [6][14] - The trading volume decreased significantly, indicating a lack of confidence among investors, with no substantial buying interest observed [10] - The overall sentiment in the ceramic tile industry is poor, with declining new construction areas and high inventory levels, further impacting Marco Polo's performance [12] Financial Strategy - Prior to its IPO, Marco Polo distributed over 1 billion yuan in dividends, raising questions about its financial strategy and intentions behind the IPO, which netted 1.56 billion yuan [8][9] - The company’s cash flow appears to rely heavily on financing activities, suggesting that the IPO was more about survival than growth [13]