Are Investors Going To Stay In The Growth Enterprise Market Or Stay Entangled?

The speculative capital of playing capital games is in retreat, and the gem is still at the stage of valuation.

To this end, whether investors are going to go or stay in the growth enterprise market has become a tangled matter.

After all, the gem index has fallen from 4037.96 in 2015 to 1700 at present, and has fallen by nearly 60%.

On Monday, the average price earnings ratio of GEM companies dropped to 45.96 times.

In fact, as a result of growth stocks gathered in the gem, the P / E ratio has dropped to 46 times, which is actually close to a relatively reasonable valuation level.

After all, the valuation level of growth stocks should not be measured by the price earnings ratio standard of blue chips.

In fact, even in the US stock market, the price earnings ratio of growth stocks and some emerging industry companies is relatively high.

For example, Amazon's P / E ratio has reached 180 times, Facebook's P / E has reached 60 times, and Alibaba's P / E has exceeded 60 times.

It can be seen that in the most mature stock market in the world, for growth stocks, for newly emerging industrial companies, the investment value of their stocks is not measured by blue chip standards.

So, does this mean that investors can copy the GEM stocks? I think it is too early to copy the gem.

Although the price to earnings ratio of GEM has dropped to about 46 times, it is close to reasonable, but it has not reached a reasonable level.

The reasonable valuation level of gem should be around 40 times.

Therefore, the gem valuation level, there is still room for a fall.

In fact, even if

The valuation level dropped to a reasonable valuation range, but this does not mean that the gem stock will soon rise sharply.

Because from the development of market, bottoming is a process.

Before the bottom is built, investors can wait and see. In a safe way, investors will be safer in the right trade.

Moreover, judging from the current situation, even if the gem valuation is reduced to about 40 times, there is still some risk in the bottom up.

First, there is a problem of performance change. This kind of performance landmines can prevent civil air defense in small and medium-sized companies.

Once the performance changes, the price will suddenly appear.

If investors are careless, they will be bombed by their "landmines".

Therefore, investors should not be careful.

The two is even if the gem valuation is reduced to about 40 times.

Although relatively reasonable, but once the upper limit of the sale of shares lifted, when the company's major shareholders substantially reduced, the valuation level will be a big impact.

Therefore, in the face of the lifting and reduction of restricted shares, where is the reasonable valuation level of gem? I am afraid it is difficult to have a standard answer.

The market can only go one step at a time.

To be sure, the more depressed the market, the greater the number of restrictions on the sale of shares, the greater the impact on GEM valuation.

Three, at present, the main market funds are heating up on blue chips. In the case of small investors' involvement in blue chip stocks, it is not easy for them to withdraw from the blue chips.

At present, the intervention of off market capital in the A share market is not positive.

In the absence of a large number of new funds to enter

Under the circumstances, a slight rebound in GEM stocks is possible, but it is difficult to sustain a strong trend.

Four, in the past year, market participants have tried hard to advocate blue chips and try hard to suppress small and medium sized stocks.

This itself has also led to investors' lack of confidence in small and medium-sized stocks.

It is obviously not a matter of time to form a cohesive force again.

This also determines that gem stock is difficult to form a resultant force.

Of course, this does not mean that investors can throw away the GEM stocks.

In fact, there will be structural market inside the gem.

Some of the stocks are already at the bottom of the stock market. If the company's semi annual report shows better growth and the company has no significant shareholder reduction plan at the present stage, such stocks may still be able to get out of the rally.

Therefore, whether or not to go for GEM stocks depends on the specific circumstances.

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