Moutai's first drop below the guidance price is essentially due to the liquidity exhaustion of "Lao Deng Culture."
The moat of Baijiu is built on the power and compliance tests at the dinner table, which causes physiological aversion among young people.
Assets with no young buyers are a kind of unsustainable Ponzi scheme.
Choosing a track is the same; avoid tracks crowded with Lao Deng, because their time is running out.
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Moutai's first drop below the guidance price is essentially due to the liquidity exhaustion of "Lao Deng Culture."
The moat of Baijiu is built on the power and compliance tests at the dinner table, which causes physiological aversion among young people.
Assets with no young buyers are a kind of unsustainable Ponzi scheme.
Choosing a track is the same; avoid tracks crowded with Lao Deng, because their time is running out.