Internet industry investors have stood at a critical investment threshold of right and wrong

Management Department10month25The "Measures for the Supervision and Administration of Online Transactions (Draft for Soliciting Opinions)" was released on the day of the announcement11month10The "Guidelines for Anti Monopoly in the Field of Platform Economy (Draft for Soliciting Opinions)" in Japan began to comprehensively construct and standardize the legal and regulatory system for anti monopoly and consumer rights protection in the field of Internet platform economy.

Of course, this weekAThe biggest focus of the stock market is the introduction of the platform economy antitrust solicitation draft, which has led to a significant decline in the overall number of internet platform enterprises.

Anti monopoly on internet platforms is a milestone historical event. According to Churchill, people often overestimate the short-term impact of major historical events and underestimate their long-term impact.

After the release of these two solicitation drafts, it marks the beginning of the formation of a comprehensive regulatory system for the online economy. Although the stock price of Internet platform companies has fluctuated significantly recently, based on the policy direction of the domestic economic systemic circulation as the main body, in terms of enterprise genes and business models, for Internet local consumption platforms that provide digital empowerment for small and medium-sized merchants, we believe that the recent stock price adjustment provides a very good opportunity for long-term investment.

In the long run, platform antitrust measures, protecting personal privacy and data security, contribute to a healthy balance of the overall social ecology and maximizing the protection of consumer surplus, which will profoundly change the business ethics and business models of domestic internet platform enterprises.

In the short term, the significant decline in internet stocks as a whole has excessively amplified the bearish sentiment.

On the one hand, there is no need to worry too much about the decline of US stocksAThe impact of stocks. The report on the effectiveness of the Huirui vaccine on Monday drove the decline of the NASDAQ index in the US stock market, but on Wednesday, the NASDAQ index has strengthened relative to the Dow Jones index. In the future, large growth stocks in the US stock market are more likely to experience volatility rather than a trend decline.

On the other hand, more importantly, the prospects of domestic internet platform enterprises are facing huge differentiation. Due to the significant changes in regulatory environment that require considerable time to adapt, business models need to be restructured. Some internet platform companies' stock prices may decline in the medium to long term, while internet companies serving local consumption will not be greatly affected. Enterprises with declining e-commerce will actually benefit. from3—6From a time perspective of months, some internet giants will face profound adjustments, and some internet traffic and advertising platforms will be delayed in listing, resulting in a significant decrease in the effective supply of internet stocks. The supply and demand of internet platform stocks are imbalanced in stages, and platform companies that are less affected by changes in regulatory environment will actually experience greater stock gains.

Differentiation means more focus and greater investment opportunities. Is it Ye Gonghao, or is it facing the risks and opportunities brought about by change? Now, investors in the internet industry are at a critical investment juncture.