Stock market commentators were stunned. What was going on? Despite such a massive drop, there wasn't even a decent rebound.
It could only mean everyone was panic-selling. It seemed that everyone's chips weren't doing well, and no one was making significant profits. They were selling now to preserve their principal.
The steeper the decline, the more fiercely the stock investors scrambled to sell. The Nasdaq plunged, unable to maintain its previous strength.
It plummeted from a great height, with no turning back.
"Classmates, you see, the market is interconnected. When biotechnology crashes, internet companies also halt their ascent and quickly pull back. Now, biotechnology is leading the market's decline, contributing significantly to the Nasdaq's drop."
"Here, we congratulate Zhang Tianxing. If I'm not mistaken, you've broken even now, haven't you?" John Fu asked with a smile. Zhang Tianxing's progress had truly exceeded his expectations.
Zhang Tianxing stood up uneasily. "Yes, I was lucky and broke even."
Just then, Kellen's phone rang. Seeing it was his uncle, Old Kellen, Kellen quickly answered.
"Uncle, is something wrong?"
"Kellen, can you ask your classmate how he can close his position? Our investment bank wants him to close it, and he can name any condition." Old Kellen said weakly.
They had been just a little bit away from Zhang Tianxing's margin call, and now they had to beg him to close his position.
As long as the bulls don't die, the bears won't stop. Now it's the bears' world, but there are no bears left in the market.
Now, stock investors know that they can make money by shorting, but major investment banks have no capacity to short.
There are plenty of methods. Find a soft target to bully.
Someone set their sights on Zhang Tianxing. Outsiders are easy to bully. He's just a student. A mere scholar is not to be feared.
"Tianxing, my uncle's call, you heard it. What conditions do you have?" Kellen asked with surprise. This man, who went against the entire beautiful country, had actually succeeded.
Could it be that the truth of this world is only controlled by a few people? If so, isn't that too unfair to oneself?
"Kellen, I have no intention of closing my position now, as you know. I only came here to short the Nasdaq. Today is the first day, and it's not time yet. When the time comes to close my position, I will naturally do so.
Kellen pondered for a moment, then looked up and said word for word: "The Nasdaq is just a pullback. Biotechnology has exploded, but that doesn't mean all the beautiful stocks have exploded. Tomorrow, at the latest the day after, there will be a rebound. From a classmate's perspective, I suggest you close your position."
"Besides, the stock market is contrary to human nature. When biotechnology collapses, investors want to run, which undoubtedly creates a stampede. I tend to believe that other sectors were mistakenly sold off today and will recover their losses."
Zhang Tianxing shook his head, unmoved. If Kellen could convince him, he would have closed his position long ago, and the incident of nearly being liquidated yesterday wouldn't have happened.
"When an avalanche comes, the sky and earth crack, and ghosts and gods wail, but people forget that no snowflake in this sky is innocent," Zhang Tianxing said lightly.
Making money is certainly a joy, and losing money is also calm. Zhang Tianxing had reached a point where his emotions were no longer visible.
"What is mental fortitude? This is mental fortitude. Classmate Zhang Tianxing is excellent. We should all learn from him." John Fu stood up and applauded.
Neither arrogant in victory nor discouraged in defeat is the mark of a true hero.
Everyone applauded Zhang Tianxing. He was no ordinary person.
"How about this, Zhang Tianxing, stand up and tell everyone why you decided to short the Nasdaq? This is a class assignment." John Fu directly called out Zhang Tianxing's name. He had asked him before, and the boy had only given a single sentence. Now he wanted to hear what he had to say.
"Damn, you're forcing me into a corner. That's not playing fair." Zhang Tianxing stood up dejectedly.
"In essence, I am a bear. As long as the bulls don't die, the bears won't stop."
"Secondly, it's related to some industries in China. I have an investment company in China. A while ago, we contacted many internet companies. While dealing with the internet, I discovered something."
"That is, regardless of whether an internet company has profitable projects or earning points, as long as it has the concept of the internet, even if it's a shell company, as long as it lists through illegal means, it will generate billionaires."
"Especially when I met a boss last time, he just added a suffix to his company name and created a business plan, and he received endless admiration."
"Originally a fresh produce company, by simply claiming to do so and issuing an announcement, it could raise 370 million US dollars in financing."
"This is not the most exaggerated. The most exaggerated is that it only had a domain name, and the rest was a shell company. Such a company could still raise 82 million US dollars. I don't know what the stock investors were thinking, but I was extremely disappointed."
"I have contacted some internet companies in China. Their related businesses are ranked first in China and can be considered among the top globally. However, the operational status of these companies is not optimistic. Most of them have not found their own profit models and are in the red. Only a few are making stable profits."
"Given this situation, they are still talking about the future. How many of these internet companies will survive in the future is still unknown. In the business world, survival comes first, then development."
"I personally believe this is an unhealthy phenomenon. This phenomenon should not exist. A company's stock price cannot deviate too far from reality. In the long run, it will eventually return to the company's intrinsic value."
"I have repeatedly warned myself: invest in companies that are down-to-earth, that achieve one small goal after another. If you just try to sell me a pie in the sky from the start, I'm sorry, I'm running a small business, and I can't afford to play with you."
"I have many thoughts, but I don't know where to start. Thank you for your support during this time." Zhang Tianxing bowed to the teacher and classmates, thanking them for their concern during this period.
John Fu was the first to applaud. "Brilliantly said! You have your own dreams, and people with dreams are always happy. You are truly excellent!"
Everyone looked at Zhang Tianxing with envious eyes. The turnaround was too swift.
Yesterday, he was still thinking about where to find a tall building to jump from, one that wouldn't be too painful or induce the terror of impending death.
He never expected the situation to change so drastically today, and he went from a salted fish to the master of his own destiny.
One hundred million, a number that suffocates ordinary people. He unexpectedly made back in one day what he had lost.
The stock market is truly a magical place. So much loss was recovered in one day, and even Morgan Stanley called to beg Zhang Tianxing to close his position.
They had even prepared to let Zhang Tianxing fleece them thoroughly. He never expected Zhang Tianxing to be so indifferent, directly saying, "It's not time yet. When it's time to close my position, I will naturally do so."
The Nasdaq fell by more than 10% at one point today. By the close, institutions exerted their influence, controlling the decline to 8%.
The Nasdaq fell by eight percentage points in one day. What does that mean? This is clearly a stock market crash. But Zhang Tianxing made a significant comeback and is no longer losing money. Hooray!!