Tracking stocks are generally some active stock selected by fund managers, and it has become a trend for everyone to hold a group together. Tracking stocks have a typical feature of high growth. Simply put, the stock track refers to an industry, a slogan and a concept, such as: investment track, big consumption track, medical track, science and technology track, carbon neutral track and so on.
Stock is a part of the ownership of a joint-stock company and a certificate of ownership issued by a joint-stock company. It is a kind of securities issued by a joint-stock company to all kinds of shareholders, as a shareholding certificate to obtain dividends and bonuses. Stocks are long-term credit instruments in the capital market and can be transferred and traded. With it, shareholders can share the company's profits, but also bear the risks brought by the company's business mistakes. Each share represents the shareholder's ownership of the basic unit of the enterprise. Every listed company will issue shares.
Every stock in the same category represents the equal ownership of the company. The share of ownership of the company owned by each shareholder depends on the proportion of shares held by each shareholder to the total share capital of the company.
Stock is an integral part of the capital of a joint-stock company and can be transferred and traded. It is the main long-term credit tool in the capital market, but the company cannot be required to return its capital contribution.
The stock itself has no value, but it can be sold as a commodity at a certain price. The stock price is also called the stock market, which is not equal to the face value of the stock. The par value of a stock represents the monetary capital invested in the stock, which is fixed; However, the stock price is changeable, and it is often larger or smaller than the face value of the stock. The buying and selling of stocks is actually the right to get dividends, so the stock price is not the monetary expression of the actual capital value it represents, but a capitalized income. Stock prices are generally determined by dividends and interest rates. For example, if there is a stock with a face value of 100 yuan, it can get a dividend of 10 yuan every year, that is, a dividend of 10%, and the interest rate at that time was only 5%, then the price of this stock is 10 yuan ÷5%=200 yuan. The calculation formula is: share price = dividend/interest rate.
It can be seen that the change of stock price is directly proportional to dividend and inversely proportional to interest rate. If a joint-stock company is in good operating condition, dividends increase or expected dividends increase, the share price of this joint-stock company will rise; On the contrary, it will fall.
Dividend: Shareholders shall take the income from the joint-stock company as dividend. The distribution of dividends depends on the company's dividend policy. If the company does not distribute dividends, shareholders are not entitled to receive them. Preferred shareholders can get a fixed amount of dividends, while the dividends of ordinary shareholders are related to the company's profits. Dividends of ordinary shareholders are distributed after those of preferred shareholders, and ordinary shareholders are entitled to distribute dividends only after all preferred shareholders have received their promised dividends in full. Stock is only the ownership certificate of the actual capital owned by the joint-stock company, and it is the certificate to participate in the company's decision-making and claim dividends. It is not real capital, but indirectly reflects the situation of real capital movement, thus showing itself as a kind of virtual capital.