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一年前,一位经营网络公司的朋友向我咨询对美国科技股走势的看法。原来,当时美国市场上中国概念受到投资者追捧,有家已经上市的美国网络公司向他们提出换股收购的邀请。一方面,这家美国公司希望借此“沾染”中国概念,以刺激股价;另一方面,该中国网络公司的投资者通过换股,得以在美国股市进行抛售,套现部分投资。换股当然是件好事,但是换股比例、所换得股份的允许流通时阳都是重要的因素。特别是在波动比较大的科技股市场,股累流通套现的时机直接决定着投资收益的高低。
A year ago, a friend operating a network company consulted with me about the trend of US technology stocks. Originally, when the concept of China in the US market was sought after by investors, a US network of listed companies made an invitation to them to make a share swap. On the one hand, the U.S. company hopes to “contaminate” the Chinese concept in order to stimulate its share price. On the other hand, investors in the Chinese Internet company will be able to sell their shares in the U.S. market to make partial investments. Of course, a convertible is a good thing, but the percentage of the share that you convert and the amount of money you get in exchange for it is an important factor. Especially in the high-volatile technology stocks, the timing of the accumulation of cash flow directly determines the level of return on investment.