Shanghai Uncle’s Bold Forecasts Stir Excitement Across the Chinese Stock Market
Move over Buffett—China's latest market sensation is a retail investor known as "Shanghai Uncle." He skyrocketed to fame with a daring prediction about CITIC Securities, claiming the stock would hit the upper limit for three consecutive days between July 22 and 25, reaching an eye-popping 700 yuan. At the time of his forecast, the stock was trading below 19 yuan, suggesting a jaw-dropping 35x increase. Though some critics scoffed at his ambitious projection, CITIC Securities surged on July 22, bringing Shanghai Uncle into the spotlight. Fueling the buzz even further, he boldly predicted that CITIC Securities would surpass Kweichow Moutai to become the most valuable A-share company.
But Shanghai Uncle’s bullish streak didn’t start there. Months earlier, he predicted the Shanghai Composite Index would climb to 14,600 points by 2026. In June, he forecasted a major rally by mid-September, poetically dubbing the wave "Love in Late Autumn." For 2023, he set his year-end target at 4,165 points. His growing following took notice when, in late September, the market surged, with CITIC Securities hitting daily upper limits. Then on October 8, the Shanghai Composite Index soared by over 10%, nearly aligning with his vision of "thousands of stocks reaching daily limits."
However, just as optimism peaked, the market saw a sudden reversal, plummeting 7% the next day, defying Shanghai Uncle’s expectation of sustained momentum. Despite this sharp correction, he remains unfazed, urging investors to stay the course. Shanghai Uncle insists that short-term turbulence is merely setting the stage for future gains, reinforcing his unwavering belief in the long-term growth potential of the market. His steadfast optimism in the face of volatility continues to inspire confidence and ignite conversations throughout China’s financial circles.

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