The fundraising stage is the process of the banker entering the market. Although there are significant differences between securities investment and business operations, their profit seeking tendencies are consistent, and both involve buying and selling in form, earning the price difference by buying low and selling high. The price difference is not the only way to profit from securities investment, but for the current secondary markets of Shanghai and Shenzhen, the bid ask price difference is the most important expected investment return. Large capital intervention in a specific stock has a significant impact on its trend to a certain extent, which is commonly referred to as "Zhuang stock". The success of running a bank is related to many factors, among which the most crucial step is to purchase sufficient circulating shares at a low price as discreetly as possible. If we can discover the banker during the fundraising stage, analyze the degree of intervention, strength, and techniques, there is a chance to catch the big dark horse.

There are two types of chip collection: collecting chips from small and medium-sized investors in the secondary market, which is the most common form; Another way is to collect from the hands of the old dealers of a certain stock, that is, "exchange dealers". The focus of the author's discussion is on the first situation.

It is very cautious to invest in a new stock, as the greater the randomness, the greater the possibility of failure. Firstly, it is necessary to cooperate with the fundamental factors of individual stocks, such as significant performance growth, restructuring themes, high dividend payouts, new profit growth points, etc. Most of them are in situations where most small and medium-sized investors are unaware of the favorable factors of the company's fundamentals, which greatly increases the cost ratio of market capitalization. Otherwise, it is easy to enter but difficult to exit, and the risk increases. Next is market conditions. Which type of ticket will become a candidate for market intervention? Generally speaking, the following requirements must be met: firstly, there are no large institutions holding heavy positions. If a ticket has already been purchased by someone, there will be great trouble in collecting, raising, and shipping chips, because the competition between the two tigers often results in both sides losing, causing harm but no benefit. This is something that the main force will try to avoid when entering the village; Secondly, there is sufficient room for the stock price to rise. The absolute price is too high, even if the company has good quality, considering that there are few small and medium-sized investors following the trend, it will also constrain the choice of the main force. Even if the relative price is too high, it is not enough. If the increase is significant, it is difficult to attract cheap chips when intervening; Thirdly, the circulation plate should be moderate, especially not too large. The circulating stock is too small, for example, one or two million shares, which makes it easy to expose the Zhuang stock and difficult to sell. The circulating stock is too large, requiring huge funds for speculation. Some institutions may hesitate due to strength limitations. However, after the investment fund goes public, the individual stocks of the fund entering Zhuang have performed well. We will discuss this in a separate article. According to statistics, stocks with a circulation of less than 100 million shares, especially between 30 million and 60 million shares, are an ideal choice for entering the market. Of course, this is not a dogma. A ticket worth 50 yuan and a plate worth 50 million yuan requires similar funds as a ticket worth 5 yuan and a plate worth 500 million yuan. In this case, we can use the circulating market value to balance our thinking.

In summary, if a ticket has a certain speculative theme, a high degree of chip dispersion, a stock price between 6 yuan and 15 yuan, has not risen much for more than a year, and has a circulating stock of 30 million shares, then there is a high possibility of being targeted by institutions and becoming a stock. Due to the vague and uncertain nature of speculative themes for small and medium-sized investors during the entry stage, we should focus more on the degree of satisfaction of entry conditions. Moreover, becoming a candidate is only a possibility of entering the village, and ultimately determining whether a ticket has a village to settle in depends on the analysis of its trend and the relationship between quantity and price.