1. Reeling method
In the A-share market, investors play new shares by deciding the number of shares they want to buy. Each market value of 10000 yuan in Shanghai Stock Exchange is allotted a lottery, and one lottery corresponds to 1000 shares. Shenzhen stock market is equipped with two hands for every 1 1,000 yuan, and one hand corresponds to 500 shares. If the investor's account in the first 20 trading days is less than 6.5438+0 million yuan, it will not meet the conditions for subscription of new shares. Investors purchase convertible bonds through credit subscription, and the subscription quantity is not determined according to the market value of investors' accounts.
2. Different ways of making profits
Playing new shares mainly depends on the rise of the stock price after the listing of new shares. New bonds mainly rely on the additional premium that may be generated by the listing of new bonds to obtain income.
3. Different risks
At present, in the A-share market, the P/E ratio of IPO is usually less than 23 times, far below the industry average. Therefore, after the issuance of new shares, there will be a lot of profit space, which leads many investors to pursue it, and the probability of loss is extremely low. However, after winning the lottery, it will not be sought after by market investors, and it is even possible that new bonds may be broken on the same day, which means that the income risk of new bonds is greater than that of new shares.
Innovation refers to the behavior of investors using the funds in their accounts to buy new shares or bonds. Generally speaking, there are two kinds of new bonds: new shares and new fund bonds. If investors want to subscribe for new shares, they must open a trading account in Shanghai Stock Exchange or Shenzhen Stock Exchange in advance, and the subscription time is generally 9:30- 1 1:30, 13:00- 15:00 on T day. It should be noted that each account can only be subscribed once. If investors make repeated subscriptions, only the first subscription will be considered valid.
New debt: New debt refers to the behavior of investors using funds to buy newly issued bond products. The new debt in the new debt usually refers to convertible bonds, which is a kind of "new debt" behavior. In the actual trading market, the risk of new bonds is low and the issue price is relatively low.
Playing new shares: Playing new shares refers to the behavior of investors using funds to produce stock products that will be listed soon, and it is also a kind of "playing new" behavior. However, it should be noted that playing new shares requires a certain market value and holding time.