Public opinion had solidified, and the slander was overwhelming; everyone agreed that Spark Media was an unlucky company.
Artists signed with companies to become famous and make money.
Now that they saw no hope, and that even after becoming famous they would face scandal, they were naturally unwilling to waste their youth in this deep pit and quagmire.
Therefore, no matter how Spark Media pleaded or threatened them with breach of contract penalties, they left without hesitation.
When one wall collapses, everyone pushes it, and when a drum is broken, everyone beats it. Caught between internal and external pressure, Spark Media’s stock plummeted for several consecutive days, hitting the floor and ceiling.
After falling for half a month, Spark Media’s stock price had dropped 98% from its highest point.
As if things weren't bad enough, just as Spark Media lost its elite personnel and suffered severe financial damage, President Zheng Yueshan was reported for embezzling company funds and forcing female celebrities under his management into sexual relationships.
Furthermore, several high-ranking executives with questionable conduct were successively taken away.
This was the final blow, sending Spark Media directly to the crematorium.
Besides Zheng Yueshan, Shen Mingjue also suffered from Spark Media’s collapse.
Shen Mingjue had immense potential in the domestic entertainment market, where the future would undoubtedly belong to idol stars.
Among the five major domestic management companies, Spark Media was the most aggressive in cultivating idols.
Consequently, Shen Mingjue had high hopes for Spark Media. Years ago, he had used Shen Group and his personal funds to significantly increase his holdings in Spark Media’s stock, making Shen Group the largest shareholder.
It was precisely because Shen Group held a substantial number of Spark Media shares that Shen Mingjue was able to place Jiang Ling in the company and repeatedly provide resources to An Qiuyan, supporting her rise.
Now that Spark Media had collapsed, Shen Group was naturally the biggest loser.
In fact, as soon as Xiao Hei transformed into an entertainment industry watchdog and began relentlessly exposing scandals, Grandpa Shen, the head of the group, sensed something was wrong and immediately instructed Shen Mingjue to sell off all his shares, leaving none behind.
Having held Spark Media stock for many years and reaped considerable benefits, Shen Mingjue believed the company had significant growth potential. Additionally, since An Qiuyan was an artist with the company, he did not comply.
It wasn’t until the live stream of the fortune teller went viral and major companies began poaching talent that Shen Mingjue realized the situation was dire.
However, by then, it was too late.
Capital markets are ruthless, and the stock market is unforgiving; it’s all about who runs fastest.
Those who run fast eat meat; those who run slow eat scraps.
By the time Shen Mingjue wanted to sell, the daily limit was already locked, with a long queue of buyers trying to sell.
By the time it was his turn, the stock price had already gone cold.
This downturn not only wiped out all his previous gains but also resulted in catastrophic losses.
Excluding Shen Mingjue’s personal losses, Shen Group alone incurred losses of over ten billion yuan in this incident.
Combined with the eighty billion yuan loss from his previous failed land acquisition, the total losses for Shen Group amounted to a staggering twenty-four billion yuan.
Even for a large and prosperous entity like Shen Group, enduring such massive losses was unsustainable.
The angry elders of the Shen family, both old and young, demanded that Grandpa Shen dismiss Shen Mingjue, the prodigal son, remove him from all company positions, and reclaim the luxury cars and houses he had acquired in the company’s name.
With the public outcry too great to ignore, Grandpa Shen had no choice but to demote Shen Mingjue completely, sending him home to reflect.
Upon hearing this news, An Qiuyan felt as if the sky was falling.
Jian Zhou hated her to the bone, and Spark Media had collapsed.