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For institutions and main players, is the bull market earning more money or the bear market earning more money?
Many people lost all the money they earned in the bear market in the bull market.

The price of a stock will not be displayed until it enters the stock market. The stock price circulating in the market is different from its par value, which is only the basis for stock holders to participate in dividend distribution, not equal to the real capital value it represents, nor is it the basis for stock price. In the stock market, the stock price may be higher than its par value or lower than its par value.