Chapter 142: Rising Stock Prices

Nanjing Securities Company, though named a company, was essentially a prototype of the Nanjing Stock Exchange. Consequently, all systems were modeled after established stock markets, including operational hours similar to foreign markets—trading was only available from Monday to Friday, with weekends off. In an era without weekends, the securities industry was the first to adopt a two-day weekend system.

However, due to this, the trading stopped on the fourth and fifth days of the company's establishment because of the weekend, resuming trading on the sixth day.

In the first week after the establishment of the securities company, although the first day had a significant number of government tasks and the data appeared acceptable, the trading data for the following two days were poor, averaging less than a hundred thousand yuan per day.

It's important to note that the current trading volume calculation method was in use. This method meant that regardless of buying or selling, the volume was calculated on both sides. For instance, if a stock was bought for ten thousand yuan and sold for ten thousand yuan, the transaction volume would be twenty thousand yuan, not just ten thousand yuan.

Such a calculation method inflates the overall market value, but even with this method, the trading volume remained weak during the last two trading days of the first week. This was particularly evident despite Vice President Luo Han's efforts to extend trading hours. It showed how sluggish the securities market was. However, this situation was entirely reversed on the first day of the second week.

At 8:50 AM on the 14th, before the securities company had opened, the area outside was already crowded. The crowd included workers in uniforms from factories, housewives in casual clothes, and farmers in simple attire. Regardless of their professions, everyone was tightly gripping their stock certificates and staring intently at the entrance of the securities company.

On the second floor of the securities company, Luo Han looked down at the dense crowd and felt a bit anxious. He turned to Zhou Ming and said, "Consultant Zhou, over the weekend, I used the two days of market closure to notify everyone who had purchased Nanjing Development Bank stocks via the bank. I told them they could sell their stocks here today. Consultant Zhou, how are things on your end?"

Zhou Ming, not in a hurry to respond, stood up and went to the window. After glancing at the waiting crowd, he smiled and said, "There are a lot of people, and they seem very eager!"

"That's for sure. As you know, these people have been troubled by their stocks for a long time. They felt the bank stocks were worthless and were looking for ways to sell them. Now that I suddenly told them they can sell, they obviously came over immediately," Luo Han said, pausing before asking, "Consultant Zhou, have I done my job correctly? What about your side?"

"Don't worry, Vice President Luo. The stocks from your bank are not an issue for us!" Du Peng added.

Zhou Ming nodded, confirming that Du Peng's statement was true. With Nanjing Development Bank having issued ten million shares, Zhou Ming and Du Peng held six million shares, while the remaining four million were in the hands of ordinary people. This amount of money was not significant for Zhou Ming and Du Peng. Moreover, judging by the crowd below, it was unlikely that the stocks held by them amounted to even a hundred thousand yuan.

Zhou Ming thought for a moment and told Luo Han, "Vice President Luo, you don't need to worry about the stocks. Both Du Shao and I are ready. What you need to do today is to manage the situation and ensure no one gets hurt. Because starting today, there will be a stock frenzy. Do you understand?"

"Consultant Zhou, don't worry. I'm confident in my ability to manage the overall situation!" Luo Han promised, even though he didn't fully understand what Zhou Ming meant by a stock frenzy.

"Good," Zhou Ming said.

...

At nine o'clock, the securities company opened for trading. When the doors were opened, the people who had been waiting since morning surged into the trading hall like athletes responding to a starting gun. They flocked to the various service counters, holding their stock certificates and shouting, "Stocks! We want to sell Nanjing Development Bank stocks. Give us our money!"

Seeing the chaos, Luo Han took a megaphone and shouted, "Please don't push or rush. Line up one by one at the counter to process your stock sale."

Despite Luo Han's repeated pleas, no one paid him any attention. After months of worrying about their Nanjing Development Bank stocks, they seized the sudden opportunity to sell. Everyone desperately pushed forward, fearing they would miss the chance to sell.

"Your mother's Luo Han! What's going on here? Didn't you say we could sell the stocks today? Why isn't anyone getting paid? What's this piece of paper supposed to be?"

The first person to complete the sale shouted out, drawing the attention of the others. Seeing that person hadn't received any money, the crowd began to curse at Luo Han, "Damn you, Luo Han! Are you playing us for fools? Didn't you say we could sell the stocks today? Why isn't anyone getting paid? Do you have any integrity left?"

Luo Han quickly explained, "Everyone, please calm down. Your stocks can be sold at the securities company. As long as someone buys them, you can take your sale certificates to the 20th window to collect your cash."

"You're fooling us! You're just exchanging one piece of paper for another. No one's going to buy your crappy stocks!" someone shouted at Luo Han, which resonated with others. The crowd began chanting, "Scammers! Scammers!"

Just then, a broadcast announcement interrupted their complaints: "Please customer a0001 proceed to window 20 to collect cash for your stock sale. Your stocks have been sold."

The announcement left everyone stunned: "Someone really bought them? Could this be another scam?"

Some people turned to the first person who had completed the transaction and asked, "Hey! You're customer number one, right? Go to window 20 and see if you get your money."

The person nodded and went to window 20, where they indeed received the money. The person laughed with joy, "I got the money, every cent!"

Upon hearing this, the crowd erupted into excitement. The news acted like an adrenaline shot, and everyone surged towards the counters to process their stock sales. Soon, the second, third, and fourth people also received their money at window 20, just like the first person.

Those who received their money were elated, while those who hadn't received theirs grew increasingly anxious and pressed even harder at the counters.

Watching the crowd outside pushing desperately, Luo Han instinctively swallowed hard. Thankfully, the counters were reinforced with iron bars like bank counters; otherwise, this scene would have been quite frightening.

Just as the stock sales were in full swing at the counters, another broadcast announcement shocked everyone: "Customer v0001 is selling Nanjing Development Bank stocks at 20.5 yuan per share."

What did this mean?

Luo Han noticed the confusion on the crowd's faces and explained, "Someone is reselling the stocks they just bought at 20.5 yuan per share."

As soon as Luo Han finished speaking, someone immediately questioned, "Is this a scam? Aren't the bank's stocks supposed to be 20 yuan per share? Who would buy them for 20.5 yuan?"

But another broadcast quickly silenced the doubts: "Customer v0001's stocks have been sold."

Although the securities company's announcer had a gentle and pleasant voice, it sounded like thunder in everyone's ears. They stared wide-eyed, incredulous that stocks originally priced at 20 yuan were selling for 20.5 yuan.

People were skeptical because it seemed like a small increase, but in reality, it was significant. With dozens of shares at an extra fifty cents per share, the customer made several hundred yuan in profit—equivalent to a few days' wages!

At this moment, Luo Han said, "Whether this is true or not is up to you to decide. Just follow the 20.5 yuan price and sell to see for yourselves."

Immediately, someone in the crowd stepped forward and said, "Alright! I'll sell at 20.5 yuan!"

As more people stepped forward, others at the counters started clamoring to sell at 20.5 yuan. After all, buying at 20 yuan and selling at 20.5 yuan was a no-brainer.

However, Luo Han said, "Hold on. We're conducting voluntary trades here. You need to confirm you're willingly selling at 20.5 yuan. I cannot guarantee that this price won't change, and if it goes up after you sell, the securities company won't be responsible and won't offer refunds."

Luo Han's explanation was reasonable, but at this moment, no one was listening. Everyone eagerly signed the sale agreements.

Of course, they were willing. For them, selling the stocks was the main goal of coming today. An extra fifty cents per share was an unexpected gain. They weren't concerned about future price changes or refunds; they were just eager to sell.

Thus, thirty-eight more customers quickly completed their sales, received their sale certificates, and rushed to window 20 to wait for their money.

At this point, Luo Han wisely paused the sale process. Shortly after, with the broadcast announcing their stock sales, the thirty-eight people received their money at window 20.

The scene erupted again. Everyone was astonished that the stocks could be sold for

 20.5 yuan per share.

But before their enthusiasm could subside, another broadcast stunned them: "Customer v0001 is selling Nanjing Development Bank stocks at 21 yuan per share."