The penniless son of the penniless ...

Chapter 364 Daum's stock price continues to soar
Seeing Zhang Junfeng was a little annoyed, Wu Xiuying shrank her neck a little guilty. If she hadn't seen it wrong, her boss almost fell down. This... should, maybe, have nothing to do with her, right?
Of course, facing Zhang Junfeng's questioning, Wu Xiuying did not say anything, for fear that her answer would completely irritate her boss. She still remembered that she had just "teased" the other party before, but was caught and beaten up by the other party.

------Dividing line------

Seoul, Korea. Ever since Daum's president Lee Jae-woong personally convened and attended a press conference, he gave a detailed report on the current registered users, daily average active users and other relevant data of KaKao Talk instant messaging software, as well as the game revenue share given by Nexon, which completely dispelled the previous sporadic negative news.

According to Zhang Junfeng's previous instructions, Li Zaixiong quickly visited SM Entertainment's president Li Xiuman and invited him to cooperate. Their Daum company will sign endorsement contracts with many artists and singers under SM Entertainment, and these highly popular stars will bring them higher exposure and attention.

Li Xiuman readily agreed to the offer for such a "big client" who came to him on his own initiative. After introducing several singers and artists to him, Li Zaixiong quickly locked on the girl group Yearn.ff, the boy group HOT, and the young actress Kim Tae-hee who was about to finish filming "Autumn in My Heart" from the list given by the other party.

As for other singers, for example, the boy group sunsmile debuted at the same time as Yearn.ff, but the current exposure and popularity of this group is a bit far behind the former two. Even if they signed an endorsement contract with the other party, the income from their daum company will be relatively small.

……

Daum's series of actions soon stimulated the company's stock to continue to rise. In just three or four days, Daum's stock price soared by more than 40%, and those commentators who had previously sang the sympathy and were pessimistic about Daum were criticized by investors and institutions!

According to them, if Daum, a company with outstanding performance and beautiful data, is not worth investing in, then aren't the share prices of other listed companies in Korea even less worthy of rising?
Moreover, as traders from the Five Star Group and Yuetian Group entered the market and bought in strongly, many investors who reacted also began to follow up in large numbers, with prices rising by more than 15% every day in an attempt to snatch some shares from these large institutions.

However, the traders in charge of the operation from the Goldman Sachs branch and Morgan Investment Bank were also very cunning. In order to ensure that the stocks they sold in their large accounts could flow back into their small accounts, they also adjusted the selling price back and forth during the daily opening rise.

Sometimes the selling price was 14.5%, sometimes 13.7%, which annoyed many traders who were eagerly waiting to take over at a high price. Some hot-tempered traders even started to curse. Why did they have to sell the 15% daily limit instead of the actual price? It was really disgusting!
Of course, there are also a small number of investors and institutions who, after seeing that the Daum stock they had previously bought at a low price had risen by nearly 40%, could not wait to sell off their stocks in a rush to cash in, thinking that they had made a fortune.

But when they saw that the stock of Daum was still rising strongly on the second and third days, their previous joy turned into regret and annoyance. If they had not sold it in advance, wouldn't they have also eaten up the gains in the following days? Their own caution caused them to lose a lot of profits from this investment!

When they saw that Daum's stock was still rising on the third day, the investors, who had been blinded by profits, gave up their previous cautious approach and reinvested all the money they had cashed out. …

Inside the office of the president of Five Star Group.

Looking at the latest news reported by Director Yin, Li Jianxi also knew that the 6000 million US dollars he had invested in this Daum company had already earned more than 5000 million in profits. Li Jianxi was a little hesitant at this moment. After all, the market value of this Daum company had almost doubled in such a short period of time!

Before this, he had never seen any stock listed on the Korean Stock Exchange that could continue to soar for so many days. If there were no financially powerful financial institutions behind it to continue to push up the stock price, he would never believe it!
But... is the investment value of Internet technology companies really that high? Li Jianxi even wondered if he was too old to keep up with the thinking of young people.
After thinking for a while, Li Jianxi still hadn't made up his mind. He couldn't help but sigh and looked at his son Li Zairong beside him. He asked in a low voice, "Zairong, I believe you are aware of the situation of Daum. What do you think? Do we still need to continue to hold and follow up?"

Li Zairong was also surprised to see his father, who had always been far-sighted, asking him for his opinion. However, he quickly adjusted his mindset and said calmly, "I think this might be a good investment project. I suggest holding it for a long time!"

"The reason I think so is mainly because my brother-in-law Zhang Junfeng never does anything without confidence. And since he spent so much effort to integrate Daum and Nexon's KaKaoTalk software together, he must have a big plan."

"If this Daum company can only reach a few hundred million US dollars, then why would he spend so much time and energy? He doesn't even know where to find a financial institution to operate it. He can invest more funds in the Internet technology company over on Meili Street and earn more profits!"

Hearing what Li Zairong said, Li Jianxi nodded thoughtfully. Zhang Junfeng is so smart, he doesn't look like someone who would do a business that loses money! After all, this guy asked them to sell the money they invested in American Internet technology companies in advance. Now the stock prices of those companies are still rising, but he has no reaction at all. It is indeed very wrong.

"... Then how much do you think the stock price of Daum can rise?" Li Jianxi quickly asked another key question. After all, the stock price of Daum was very low before, and the total market value was just over 2 million US dollars. Now it has been rising all the way, and it is still a long way from 5 million US dollars.

(End of this chapter)