为什么除权后会跌？

在股票市场中，经常会有一种现象，即股票除权后的价格会下跌。这引发了人们的疑问：为什么除权后会跌呢？要回答这个问题，我们需要了解除权是什么，以及它对股票价格的影响。

除权是指公司根据特定的比例调整股本结构或分派红利的行为。通常情况下，除权分为两种：股票拆细和股息派送。股票拆细意味着公司将现有的股票进行分割，增加股本数量，但每股价格相应减少；股息派送则是公司分派利润给股东，减少公司的留存利润。不论是哪种方式，除权都会导致公司市值的变化。

除权对于股票价格的影响主要体现在供求关系上。当股票拆细后，每股价格下降，但股本数量增加，相对供给也增加，从而导致股票价格下跌。同样，当股息派送后，公司的留存利润减少，投资者的预期收益下降，自然会对股票价格产生负面影响。

此外，除权后的股票价格下跌还与市场心理有关。除权往往被投资者视为一个信号，暗示公司在未来的盈利能力可能会受到影响。因此，投资者可能会以较低的价格卖出股票，从而进一步推动股票价格下跌。

尽管除权后股票价格会下跌，但这并不意味着除权是一件坏事。除权通常是公司为了调整股本结构、分配利润或满足市场需求而采取的策略。在长期来看，除权可能会刺激股票交易活跃，增加市场流动性，从而更好地满足投资者的需求。

总结起来，股票除权后价格下跌的原因是多方面的。首先，除权增加了相对供给，导致股票价格下跌。其次，除权被视为公司盈利能力可能受到影响的信号，引发投资者对股票的担忧。最后，除权是公司根据需要进行的一种策略，长期来看，它有可能刺激股票交易活跃，并提高市场流动性。

Why does the stock price drop after ex-rights?

In the stock market, it is common to see the stock price drop after a company undergoes ex-rights. This raises the question: why does the stock price drop after ex-rights? To answer this question, we need to understand what ex-rights is and how it affects the stock price.

Ex-rights refers to the action taken by a company to adjust its capital structure or distribute dividends based on a specific ratio. There are typically two types of ex-rights: stock split and dividend distribution. Stock split means that the company splits its existing shares, increasing the number of shares outstanding but reducing the price per share. Dividend distribution involves the company distributing profits to shareholders, reducing the retained earnings. Both methods of ex-rights result in changes to the company's market value.

The impact of ex-rights on stock prices is mainly reflected in the supply-demand relationship. When a stock split occurs, the price per share decreases, but the number of shares increases, leading to an increase in relative supply and consequently causing the stock price to drop. Similarly, when dividends are distributed, the company's retained earnings decrease, which lowers investors' expected returns and naturally has a negative impact on the stock price.

In addition, the drop in stock prices after ex-rights is also related to market psychology. Ex-rights is often seen by investors as a signal that the company's future profitability may be affected. Therefore, investors may sell their stocks at lower prices, further pushing down the stock price.

Despite the drop in stock prices after ex-rights, it does not mean that ex-rights is a bad thing. Ex-rights is usually a strategy adopted by companies to adjust their capital structure, distribute profits, or meet market demands. In the long run, ex-rights may stimulate active stock trading, increase market liquidity, and better meet investors' needs.

In conclusion, there are multiple reasons why the stock price drops after ex-rights. Firstly, ex-rights increase relative supply, causing the stock price to drop. Secondly, ex-rights are seen as a signal that the company's profitability may be affected, leading to investor concerns. Finally, ex-rights are a strategy that companies adopt based on their needs and, in the long run, may stimulate active stock trading and improve market liquidity.