The Growth Of The Growth Enterprise Market Is More Than Expected.

In June 2015, the growth enterprise market reached a record high of 4037.96. During this period, it also created some high priced stocks with a price of 100 yuan, and the enthusiasm for speculation in the growth enterprise market basically reached the acme.

However, it seems that no one has thought that after two years, the gem index is less than 1700 points, and in the past two years, the growth of the growth enterprise market has been more than expected.

The market index has fallen sharply, and the market value of the stock has declined sharply. Based on the fact that the overall profitability of the growth enterprise market has not changed much, the valuation level of the growth enterprise market has plummeted.

According to the report, China's growth enterprise market index is currently 36.2 times earnings based on published performance, compared with 34.3 times the price earnings ratio of the NASDAQ index.

In other words, according to this data analysis, the valuation of China's growth enterprise market index will also be close to the NASDAQ index. After years of "deleveraging" and "de foaming" process, the valuation bubble pressure of the growth enterprise market has also been squeezed to a large extent.

However, these two different markets have had different fortunes in recent years.

Among them, for China's gem index, there is a "down and down" trend, in recent years, the decline has exceeded the market expectations, and this year, the gem index has fallen by more than 14%..

As for the NASDAQ index, it has seen a new trend in recent years, and the NASDAQ index has stood at 6300 historical highs.

In fact, there are obvious differences between domestic and foreign markets, but for the domestic market, there are also significant differences.

Since the beginning of this year, the Shanghai Stock Index 50 and the Shanghai and Shenzhen 300 index have shown the continuous upward movement of the core of operation, while the Shanghai Stock Exchange 50 index is a long lost bull market.

However, compared with that, the performance index of gem is relatively inferior. In the past, the image of the gem which has quite profitable effects has undergone important changes.

On the one hand is to restrain asset bubbles and continue to reduce the leverage of the environment. On the other hand, the core listed companies in the growth enterprise market are faced with the phenomenon of poor performance and low profitability, which have a more or less impact on the rational operation of the whole growth enterprise market.

As for the long suspension of music network, because its market share a lot of weight, its resumption trend is more investors worried.

In fact, when the market valuation bubble is squeezed and the overall valuation level returns to an effective and reasonable area, this is often one of the signals that the market moves towards stability and stability.

Perhaps, in the face of less than 1700 points of the GEM market, it has gradually approached its reasonable value operation central area, the space of successive sharp falls will be relatively limited, but to reactivate the market, it will not be easy and difficult.

A few years ago, under the continuous fund push effect, plus some of the hot money institutions using gem to make high and big market value factors, more or less promoted the continuous growth of the growth enterprise market.

"Cheng Yi capital, money losing" is also a true portrayal of the GEM market in the past few years, and the key to the continued growth of the GEM market is that the leading role of capital can not be separated.

Today, however, the capital push effect of the growth enterprise market has been greatly reduced, coupled with the changes in the market demand and policy environment of the gem, which has reduced the speculation in the growth enterprise market.

It is worth mentioning that

On the background of the regular distribution of batches on Monday, the problem of IPO barrier lake has been significantly released. However, under the background of continuous new shares and continuous expansion of stock market, it has reduced the investment attraction of GEM companies to a certain extent, and it has brought a lasting impact on the GEM stocks with high valuations and lack of substantial support.

It can be seen that although the GEM market has gradually returned to a reasonable value operation area, to reactivate the profit making effect of the GEM market, it may be more necessary to promote the policy environment, capital environment and other factors on the basis of the effective return of the valuation, so that the GEM market can be reactivated in essence.

But at the moment, this is still a lot of difficulty.

The performance of some core listed companies has changed.

The continued tightening of the environment, coupled with the uncertainty of future growth and profitability, has prolonged the bottoming cycle of the growth enterprise market and accelerated the de foaming process of the growth enterprise market.

Perhaps this is also consistent with the financial market to suppress the asset bubble environment.

However, for a long time of the GEM market, once the attractiveness of the fund suddenly drops, the money making effect is significantly reduced and the expected return on investment is significantly weakened, it will have a heavy impact on the whole market. After a vigorous and vigorous process of "deleveraging" and "de foaming", it will be very difficult to reactivate the whole market, and the bottom line of the growth enterprise market is still to be observed.

For more information, please pay attention to the world clothing shoes and hats and Internet cafes.