We know that financial institutions have always been the icing on the cake, not the icing on the cake.
The poorer you are, the more you want to borrow, the less he will lend you
You are also rich, and the more you don't want to borrow money, he begs you every day to lend you
The same is true for securities companies and fund companies.
When the stock market is getting better, when the company's stock price is rising, it will help you blow it every day
The stock market is gone, your stock price has fallen, and you are bearish every day
Our first national gate, the Capital Airport, has also tasted the heat and coldness of this world.
At the beginning of the year, almost all investment banks were optimistic about the capital airport:
What the first national gate
What a performance inflection point
What performance elasticity
Since the beginning of this year, affected by factors such as the diversion of Daxing Airport and the slow recovery of the international civil aviation market, the recovery of the capital airport has been much slower than that of its peers.
From January to October 2023, the passenger throughput of the capital airport was 48.02 million, only about 50% of the level of the same period in 2019.
In this case, from January to September 2023, the capital airport will have a net loss of 1.336 billion yuan.
Especially in the third quarter, when everyone made money, the capital airport still had a net loss of 300 million.
Such a sluggish performance is really a bit surprising.
In other words, the capital airport turned out to be the only listed airport to lose money.
In particular, the capital airport is falling all the way.
In this case, brokerage analysts are bearish on the capital airport:
CICC, the domestic investment banking overlord, expressed disappointment
Morgan Stanley, a global investment banker commonly known as "Big Mo" in the financial community, released a research report saying:
Downgraded Beijing Capital Airport from "in sync with the market" to "underweight"
The target price was lowered by 59% from HK$5.4 to HK$2.2.
Da Mo also said:
China's weaker-than-expected air travel demand since November has lowered the airport's earnings estimates as duty-free operations at Beijing Capital Airport pose downside risks.
He also pointed out that if duty-free consumption cannot improve or the duty-free shop contract is renegotiated earlier than expected, there is room for further decline.
I am afraid that Da Mo also lost a lot of money at the Capital Airport, and finally sold 17.23 million shares of Capital Airport stocks.
In this situation, other investors at the capital airport also sold their shares.
BlackRock, one of the world's largest asset management groups and the fourth largest shareholder of Capital Airport, reduced its holdings by 7.89 million shares on November 14.
Unexpectedly, BlackRock did not give up and bought 13.39 million shares on November 30.
However, the stock of Capital Airport still fell all the way.
The helpless BlackRock reduced its holdings by a total of 630 billion shares on December 1, December 4, and December 13 respectively.
Bank of New York Mellon reduced its holdings by 74 million shares.
Causeway Capital Management, one of the world's largest asset management groups, reduced its holdings by 29 million shares.
However, Brother Yi believes:
At present, there is not much room for the share price of Capital Airport to fall at 2.25, after all, the first country gate will not be so unbearable, and it still has the ability to make profits in the future.
Therefore, it is strongly opposed that these investment banks are still bearish and short the capital airport.
Come to think of it, these well-known institutions have lost money, so many shareholders who have lost money should not blame themselves too much.
Carry forward the spirit of Ah Q, and the mood will be better.