The Youngest Son of Sunyang

Chapter 140 Rich Ants 2

Chapter 140 Rich Ants 2

When the stock price dropped to 6,000 won, Jin Seo-yoon's lips tightened. She vented all her anxiety and restlessness to Director Lim.

"Chairman, it's for sure. The investment is already approved by Sun Hoon-jae Electronics CEO. They're in the process of adjusting the share price for participation. The stock price will go up again. Please be patient for a little while longer."

As Director Lim had assured, the stock price, which had dropped to 6,000 won, suddenly rebounded and quickly surpassed 10,000 won.

But it didn't stop there. It continued to hit the daily limit for several days, finally surpassing the 20,000 won mark.

However, as soon as the stock price hit 20,000 won, it started to decline as if it had been waiting. For three consecutive days, it showed a downward trend.

People celebrating the surging stock price and those lamenting their losses were both abundant in number.

In the second half of 1999, the tumultuous stock price of New Data Technology was the eye of a hurricane in the stock market.

Coincidentally, a press conference was held by CEO Lee Sangsoo.

In recent days, securities-related websites had been filled with rumors such as "Sohn Jung's SoftBank invests in New Data Technology" and "Going public on Nasdaq with Yahoo," making it clear that a significant announcement was imminent.

CEO Lee Sangsoo, avoiding the flashes from reporters' cameras, directed his gaze at the ceiling. When the press conference venue fell silent, he began a brief presentation.

As discussions on current issues, solutions, and future visions continued, the journalists began to frown more and more.

The name "emergency press conference" was quite ordinary, and with only mundane content being discussed, there was no real news to report.

CEO Lee Sangsoo occasionally glanced at his watch, and as noon approached, he concluded his presentation.

"The tedious time has ended. It's about time we made the announcement."

When he redirected the conversation, the reporters refocused.

"New Data Technology has decided to partner with the Sunyang Group to foster a global brand..."

He used the term "group" instead of Sunyang Electronics to enhance the impact of the announcement.

The partnership agreement for Sunyang Electronics' stake was signed at 11 a.m. that day. They maintained strict security measures until a secure time for the press conference, even confirming the identities of journalists before allowing them into the conference room.

The sell-off that occurred as soon as the stock market opened this morning was likely orchestrated by the operation forces

Within just a few hours, the stock price surged once again, and those who had sold their stocks during the morning trading session watched the press conference news with a sense of impending disaster.

As soon as the announcement about Sunyang's stake participation ended, reporters bombarded the CEO with questions. He either evaded or responded ambiguously to the awkward questions.

Upon confirming the press conference as breaking news, Oh Sehyun quickly made several phone calls and then burst into laughter.

"Lee Sangsoo was planning to run away, but he shook hands. That's not how it's supposed to be... Huh, really."

"Why do you say that?"

"He handed over 1 million shares of his own stocks to Sunyang Electronics. Now, the CEO's stake is around 10%. Sunyang Electronics has become a major shareholder."

The founder and CEO sold his shares. He's still the largest shareholder, but this could provide a basis for problems in the future. There's no way to avoid the suspicion that he's already made plans to cash out and escape if problems arise.

"Now that they have around 20 billion won in cash, do you think they might consider a capital increase? They have no other way to increase their capital, do they?"

"That's likely. They'll probably put around 10 billion won into a capital increase. But they've still got 10 billion won."

Oh Sehyun was worried about his junior, and I was concerned about my aunt.

Now, intoxicated by the surging stock price, she might forget her commitment. She must sell at 40,000 won, securing four times the profit. Only then can she savor the thrill of gambling and let go of control in the moment of victory.

From that point on, we just need to leave it alone, and it will collapse on its own.

But how much money will she lose when it falls apart?

"Do-jun, do we really have to sell? Isn't this foolish?"

"Sell it. CEO Oh's instincts are almost never wrong."

"It just keeps going up." My aunt pushed the newspaper in front of my eyes with an unhappy look.

"You know, when the stock price falls, the selling pressure surges in an instant. You're well aware of it. Once you miss the timing when you say 'Oops,' you can't turn back. You've earned enough."

I spoke quietly, as if trying to avoid Oh Sehyun's nagging. But couldn't hide her disappointment when the same words came out of my mouth.

"You sold too? Everything?"

I need to respond carefully. After all, aren't family members the ones who cause the most pain when they lose money?

"We've already sold everything. Around 38,000 won. We kept 25 times the profit, so it's enough."

Of course, I'm still holding onto it.

"What? T-Twenty-five times?"

I said it like it was nothing, leaving my aunt stammering.

"Yes. We bought it when the company went public. Was it around 1,500 won?"

"Hey! Why didn't you tell me in advance?"

"I didn't know either because it's the company's business. It's a financial investment firm, and I always focus on the stock market to not miss the timing when a company goes public."

"Even if the company bought it, your investment capital must be included, right?"

"I don't have much left now. I put it all in for my uncle's election campaign, and in return, I received the Sangam-dong land, which is still the same. I think it was about 500 million won in total."

Anyway, nothing will be heard. It's obvious that my aunt's head is full of nothing but the number 25.

"Aunt, there will be plenty of opportunities to earn extra money in the future. Don't hold onto regrets now; just sell it all."

I can't even begin to imagine how many curses I'll get because of what I'm saying. Considering my aunt's fiery temperament, I need to be prepared for the worst.

My aunt was in a position where she temporarily 'borrowed' company money and couldn't afford any more adventures.

In the end, she only received a message saying that she sold everything when the stock price was a little over 40,000 won. She didn't reveal how much she invested or what the profits were.