On February 17th, in the morning session, the stock price of the popular stock “Light Media” experienced significant fluctuations. It hit the daily limit up within about a minute of opening, but quickly pulled back. In less than 5 minutes, it nearly hit the limit down, with a drop of nearly 20%. The sudden plunge of Light Media was considered a rare sight.
Light Media opened significantly higher on the 17th, reaching the daily limit up (20%) within just 1 minute, but then quickly plunged, with a drop of nearly 20% in about 4 minutes, almost displaying a “roller coaster” trend. As of around 10:03 am on the 17th, Light Media was trading at 33.09 yuan per share, down 4.72%, with a transaction volume exceeding 11 billion yuan, and the company’s market value was approximately 97 billion yuan.
Previously, influenced by the blockbuster success of its produced film “Ne Zha,” Light Media had a remarkable performance last week, hitting the daily limit up for 8 out of 8 days, with a cumulative increase of over 264%. The market value surged by approximately 72 billion yuan, reaching a total market value of 101.9 billion yuan, hitting a historical high.
However, today’s sharp price fluctuations have drawn market attention. As of now, Light Media’s latest market value is around 96.8 billion yuan, evaporating about 5 billion yuan in a short period.
According to “21 Financial News,” after the rapid surge in stock prices, some investors chose to take profits, leading to a significant pullback in stock prices. Additionally, doubts about the rationality of the rapid price increase further intensified the volatility.
Light Media (full name: Beijing Light Media Co., Ltd.) is a well-known Chinese film and television production and distribution company, founded in 1998 and headquartered in Beijing. The company focuses on investment, production, and distribution of films, TV dramas, variety shows, and animated films.
Light Media is a listed company on China’s A-share market (stock code: 300251.SZ), competing with international animation giants like Disney and DreamWorks.