Reborn in America, I'm serious about making money.

In the Hong Kong stock market, there is a term called "penny stock," and the most famous one is Hong Kong Antenna, which was IPOed at one Hong Kong dollar.

The antenna inside this Xiangjiang antenna is the one we know. Some people may not know what this antenna is for because nowadays, everyone uses cable TV to watch TV. In the early days, there was no cable access to watch TV, and ordinary people couldn't afford cable TV, not for any other reason than they couldn't bear the monthly fee of tens of dollars.

In a place as big as Hong Kong, why would they use cable television? Before TVB was established, ATV's predecessor, Rediffusion Television, was a cable television company. However, after TVB was established, it won the market by broadcasting free color television. TVB was no longer called TVB, but Television Broadcasting Corporation.

Back then, to watch TV, you needed an antenna to receive the signal; otherwise, you couldn't see anything. In the early days, mainland China also used this method to receive TV signals.

The antenna in the Xiangjiang antenna is the same antenna used for television connections. There were rumors at the time that the Xiangjiang antenna could reach the heavens. People at that time generally had low levels of education, and stock market investors at that time did not understand these things.

The price of Hong Kong antennas rose to over HK$30, and later there were rumors that it had risen to HK$45; whether it was HK$30 or HK$45, it was quite outrageous.

Some people might think the same way: what's the difference between HK$30 and HK$45? When it comes to bragging, HK$45 is more exaggerated. When you're bragging, seven parts truth and three parts falsehood are enough.

Xiangjiang Antenna was created by a professor from a university in Hong Kong and his son. It was an empty shell company with nothing – no products, no factory, no physical goods. Yet, it went public without any investigation.

Later, after the truth about Xiangjiang Antenna was revealed, the stock price plummeted, leaving countless people trapped; the incident also became an international laughing stock.

Hong Kong has experienced the 1967 Incident, the 1973 Stock Market Crash, the 1982 Stock Market Crash, the 1987 Global Stock Market Crash, and the 1997 Asian Financial Crisis, and will continue to experience various economic crises in the future.

The main reason is that this is a port city and is greatly affected by the outside world. The stock market will reflect any slight disturbance.

Savvy Hong Kong people have developed the ability to distinguish between fraudulent stocks and scammers, making it increasingly difficult for them to swindle money. Take the Dahua 36 incident, for example; Hong Kong people felt it was a case of fraudulent stock manipulation.

Dahua 36's stock price has now risen to HK$20, which is ten times its initial listing price. Those who have held the stock until now have made a fortune!

Some institutions that bought in halfway through the process also made one to two times their initial investment, but they were also wondering what kind of news could this company really have to support the rise in stock price.

Don't even mention hundreds of hectares of land; that's industrial land, not worth much.

"Let's sell half of our Dahua 36 shares to test the waters and see if the big players will buy them back. If they manipulate the market, that would be great. If they can't hold on, then we'll dump the shares, short them, and make a profit."

An analyst's suggestion was met with widespread approval; people had no choice but to agree, as the stock price had risen too high, tenfold.

"Then let's do as you say. We'll sell them all and then see how things go."

The next day, when the market opened, it wasn't just this one institution that sold off its shares; other institutions, as if by prior arrangement, also sold off Dahua 36's shares together.

"Boss, someone's selling off Dahua 360 stock. Should we buy it?"

An overseas securities trader noticed something unusual and immediately reported it. The man known as the "boss" looked at the suddenly enlarged sell order and said, "We'll buy all the shares at the 10th price level."

No one doubted his orders. They immediately placed orders at HK$10, waiting for the institutions to drive the price down to HK$10 so they could take all the chips.

"Boss, they were just bluffing after all. Let's run!"

Many managers of organizations, upon hearing this, realized that others were also running away, just like them. In that case, running away naturally became the primary option.

Soon, they started ramping up their output. Nobody said anything about buying first and then selling later; you have to consider the context! What's the situation now? There's no one willing to buy. Anyone who does that is an idiot. The massive influx of shares will crush them.

20, 19, 18, 17... 13, 12... 10, huh? It stopped at ten Hong Kong dollars, and the trading volume was very large. Suddenly, one hundred million Hong Kong dollars was gone.

Some people were shorting the stock, and then they discovered that the trading volume was still increasing: 200 million, 300 million, 400 million... 1 billion, 2 billion...

"Oh no, this is bad, close your position quickly."

Someone noticed something was wrong and immediately ordered the traders to buy back the shares. It wasn't that they didn't want to dump the shares or make money by shorting, but the bulls were too powerful. A large number of orders were swept up, and the volume of over 2 billion was absorbed just like that.

"This company from mainland China is ruthless!"

These are the sentiments expressed by some short sellers who have already closed their positions. It's not that they don't want to, but that they dare not; they are frightened.

This was clearly a short squeeze; thanks to their buying, the stock price actually rose to HK$11, resulting in a loss of HK$1 per share for them.

By the close of trading, the total turnover was nearly HK$3 billion. At the end of the trading day, the stock price had not risen and remained at the HK$10 level, as if it were welded shut and unaffected by anything.

"Wow~ What's going on with this stock? It's incredibly volatile!"

"Could it be that someone has already become a major shareholder?"

"What a joke, this is not even 5%, right? Dahua 36 now has a market value of HK$50 billion, that's really impressive."

"Given the current situation, the stock price should be rising, so why aren't they pushing it up?"

"I think there must be some news, but we don't know it yet."

"Someone is setting this up, there's nothing we can do, we can only wait."

Many people think this way; they see stocks that have increased tenfold and are actually quite powerful, making them someone not to be underestimated.

Just as the whole of Hong Kong was abuzz with discussion, an announcement appeared before everyone's eyes, and the announcement was released very suddenly.

Dahua 36 announced: Due to a major event, the company's stock is temporarily suspended from trading. The relisting date will be announced in a future announcement from the company.

As soon as this news came out, many people felt they had been tricked. As for what major event it might be, we can only wait for the disclosure.