Chapter 809 - Stock Accumulation of His Own Company (1) – Part 2
Chapter 809: Stock Accumulation of His Own Company (1) – Part 2
When Gun-Ho opened the office door, Director Kang was talking with a customer at his desk. When he saw Gun-Ho entering the office, he stood up from his seat to greet him.
“Are you coming straight from the airport, sir?”
“Yes, I am.”
Director Kang followed Gun-Ho to the president’s office and said, “You look pale, sir. You must have been very busy in China because of your business there.”
“A little bit,” Gun-Ho said as he released a small burst of laughter.
‘I was indeed very busy. I was actually tiringly busy all night.’
Gun-Ho said to Director Kang with a smile, “I’ve noticed that you have a customer waiting for you at your desk.”
“Oh, yes, he is the employee of one of our tenant companies in our building. He is here to make a request for us to reissue the tax invoice for their office rent. They lost it.”
“Well, you can go back to your work.”
“Yes, sir.”
After Director Kang left the office, Secretary Yeon-Soo Oh came in to see if Gun-Ho needed anything.
“I’d like to have a cup of warm Solomon’s tea, please.”
“Yes, sir. It’s coming right up.”
Gun-Ho leaned back in his large and comfortable president’s office chair and turned on his computer.
“Let me check how Dyeon Korea stock is doing. Hmmm. It seems that the stock manipulators are shaking off to remove the little investors at a steady low price. The price is now even lower than the last time I checked by 7%. The small investors holding Dyeon Korea stock must be devastated.”
Gun-Ho opened Naver.com and entered the stock discussion forum specifically where people would talk about Dyeon Korea’s stock. As expected, individual small investors were crying out about losing money on Dyeon Korea stock.
“I guess I will have to step in now. Maybe I will raise the price until the price reduction rate reaches around -3% from -7%. The current price is too low.”
Gun-Ho started accumulating the stock. Dyeon Korea stock’s trading volume was relatively low, so Gun-Ho had to spend only 10 million won to raise the price, so the reduction rate became -3% as he aimed.
It was advisable for stock traders that they should invest in the stock market with surplus funds. Those who didn’t have surplus funds, and took out a loan to invest in the stock market, would be devastated and feel hopeless if the stock price that they bought dropped by 3% or even 7%.
“The little investors who are still holding Dyeon Korea stock must be feeling wrecked because of the price drop. They probably had thought that the price was at the lowest when they bought it, but the price is unexpectedly dropping even lower.”
Gun-Ho watched the stock chart closely.
“The stock price is low enough for stock manipulators to join the game. I will probably be able to see their move starting Monday at the earliest.”
Gun-Ho gave a call to the stock brokerage firm’s branch manager in Gangnam District.
“It’s Gun-Ho Goo.”
“Oh, sir. How are you?”
Gun-Ho was, in fact, an experienced stock trader, but he asked the branch manager a question as he was a layperson in the stock trading field, “I just noticed that Dyeon Korea’s stock price keeps dropping. Why is this happening?”
“The price is falling? Let me take a look at it, sir. Bear with me.”
It took some time until the branch manager got back to Gun-Ho; he probably carefully checked Dyeon Korea’s stock movement to see any irregularities that required his concern.
“It’s true that the price dropped a lot, sir. Well, I guess, at this point, we can expect to see the price going up again. I think it’s low enough now. There is no change or bad news with the company, right?”
“Not at all.”
“Well, then leave it as it is. The price will go up anytime soon.”
“Maybe I should step in. What do you think?”
“You could accumulate the stock and raise the price. But, that could be what the stock manipulators are waiting to happen. Once you as the company’s major shareholder accumulate the stock, and once the price goes up consequently, those stock manipulators will probably sell their stock at the increased price, so they could make money.”
“That makes sense even though I’m not sure whether stock manipulators actually exist.”
“And, sir, I don’t recommend that you step in anyway. If you purchase your own company’s stock, you have to put the public on notice for it. And, if your business partner— Lymondell Dyeon— finds out that you own more shares by purchasing them in the stock market, they wouldn’t like it, because you two no longer own an equal amount of company ownership interest.”
“Hmm.”
“And, you probably want to monitor the stock movement to see if any foreigners acquire the shares. It could be Lymondell Dyeon.”
“I checked it, and the current trading volume by foreigners is insignificant.”
“I guess Lymondell Dyeon doesn’t intend to change the portion of the company’s ownership interest then. I would leave it, sir. As long as your company is doing well, you don’t have to worry about the stock price fluctuation.”
“If there are actually stock manipulators, don’t I have to warn them by stepping in?”
“Haha. I’m sure you are more than capable of doing it by yourself, sir. It’s an open market where anyone can buy or sell the stock, and anyone could lose or make money as well. However, it wouldn’t certainly help your company’s public image that you as the major shareholder step in and participate in manipulating the stock price.”
“You think so?”
“When you are ready to split the share, just let me know. We can expect to see a significant change in Dyeon Korea’s stock price then.”
“Okay. Thank you for your advice today.”
“If you are interested in purchasing other stocks, I can send you the list of the stocks that I recommend, sir.”
“That wouldn’t be necessary. I’m good. I’m not interested in investing in the stock market right now, but thank you. I called you today because I was concerned about Dyeon Korea’s stock. Because its price seems to be dropped so low, I wondered if I had to worry about it.”
“Stock price goes up and down every day. It’s normal. We don’t have to try to figure out what those movements mean.”
“Thank you again for your advice.”
Gun-Ho mumbled to himself as he hung up the phone, “His response is like reading from a textbook, nothing new.”
Gun-Ho leaned back in his cozy president’s office chair and thought about it.
‘I don’t have to play against stock manipulators. As the branch manager mentioned, if I want, I can play with Dyeon Korea’s stock the way that I want to, since the total value of the stock is a bit over 100 billion won, and I have 170 billion won in cash.
I should play along with those stock manipulators, so I don’t stand out. I will buy the shares when they buy them, and I will sell them when they sell them. I’m sure I have more funds than they have even as a group. I don’t have to feel pressured or anxious. I’m in a way better position than they are. For today, maybe I will buy some more shares to make the red color appear on the Dyeon Korea’s stock chart.’
Gun-Ho opened the stock trading application. The stock market wasn’t moving.
“Hmm, that’s right. It’s already after 3:30 pm. The market is closed already for today.”
The stock market was open at 9 in the morning and closed at 3:30 in the afternoon. Dyeon Korea’s stock closing price that day was the price that Gun-Ho set earlier by raising the price reduction rate to -3% from -7%.
“I can still make the red color shown on Dyeon Korea’s stock chart by buying some shares during the after-hours trade. Should I do that?”
After-hours trading occurred outside regular market hours between 4 and 6 in the afternoon. It was not a real-time trading though as regular trading was, and it was done every 10 minutes.
“I have enough time to trade in the after-hours trading now.”
Gun-Ho stretched himself and then walked out of his office. He wanted to get some fresh air before starting his after-hour stock trading. He went up to the rooftop.