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2021-03-19

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Why Are the Nasdaq's Highest-Growth Stocks Panicking About a Strong Economy?<blockquote>为什么纳斯达克增长最快的股票对强劲的经济感到恐慌？</blockquote>

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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":327711982,"tweetId":"327711982","gmtCreate":1616124689546,"gmtModify":1634527106809,"author":{"id":3574820635571189,"idStr":"3574820635571189","authorId":3574820635571189,"authorIdStr":"3574820635571189","name":"JoleneChong","avatar":"https://static.tigerbbs.com/322825d3e38fd36a73ac7268b53dd1b6","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":4,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body>Hmm 🤞🏻</body></html>","htmlText":"<html><head></head><body>Hmm 🤞🏻</body></html>","text":"Hmm 🤞🏻","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/327711982","repostId":1193357878,"repostType":4,"repost":{"id":"1193357878","kind":"news","pubTimestamp":1616122423,"share":"https://www.laohu8.com/m/news/1193357878?lang=zh_CN&edition=full","pubTime":"2021-03-19 10:53","market":"us","language":"en","title":"Why Are the Nasdaq's Highest-Growth Stocks Panicking About a Strong Economy?<blockquote>为什么纳斯达克增长最快的股票对强劲的经济感到恐慌？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1193357878","media":" Motley Fool","summary":"The answer may lie in a simple concept.The Nasdaq Composite (NASDAQINDEX:^IXIC) was the stock market","content":"The answer may lie in a simple concept.<blockquote>答案可能在于一个简单的概念。</blockquote>The&nbsp;Nasdaq Composite&nbsp;(NASDAQINDEX:^IXIC)&nbsp;was the stock market leader throughout most of 2020, powering ahead to much greater gains than its fellow major benchmarks. In particular, high-growth stocks that were able to hold up well despite the recessionary conditions in the broader economy stood out as big winners and rewarded their shareholders handsomely.<blockquote>这个纳斯达克复合材料（纳斯达克指数：^IXIC）在 2020 年的大部分时间里一直是股市的领导者，其涨幅远超其他主要基准。特别是，尽管整体经济衰退，但仍能保持良好状态的高增长股票成为大赢家，并为股东带来了丰厚的回报。</blockquote>However, that narrative has changed lately.on Thursday, the Nasdaq was down another 3%, building on losses that have taken the index into correction territory even as other benchmarks were at or near record highs. Moreover, it seems as though the Nasdaq is falling even though Fed chair Jerome Powell told investors Wednesday that the economy appeared to be in solid shape.<blockquote>然而，这种说法最近发生了变化。周四，纳斯达克指数又下跌了 3%，尽管其他基准指数处于或接近历史高位，但该指数仍处于修正区域。此外，尽管美联储主席鲍威尔周三告诉投资者，经济似乎状况良好，但纳斯达克似乎正在下跌。</blockquote>There's one possible answer for this apparent disconnect. If investors are actually paying attention to a common way of valuing&nbsp;high-growth stocks, then the Fed's nonchalance about a key impact that a stronger economy could bring might explain the near-panic among shareholders of those stocks.<blockquote>对于这种明显的脱节，有一个可能的答案。如果投资者确实关注的是高增长股票估值的常见方式，那么美联储对经济走强可能带来的关键影响漠不关心，这或许可以解释这些股票股东近乎恐慌的原因。</blockquote>More damage in high-growth stocks<blockquote>高增长股票遭受更多损失</blockquote>To be clear, Thursday's declines weren't monumental by themselves.Tesla&nbsp;(NASDAQ:TSLA), for instance, was down just 7%.MercadoLibre&nbsp;(NASDAQ:MELI)&nbsp;saw a 6.6% slump, while&nbsp;Zoom Video Communications&nbsp;(NASDAQ:ZM)&nbsp;lost 6% and&nbsp;Atlassian&nbsp;(NASDAQ:TEAM)&nbsp;took a 6.3% hit.<blockquote>需要明确的是，周四的下跌本身并不是巨大的。特斯拉例如，（纳斯达克股票代码：TSLA）仅下跌了 7%。自由市场（纳斯达克股票代码：MELI）下跌 6.6%，而Zoom Video通讯（纳斯达克股票代码：ZM）下跌 6%阿特拉斯（纳斯达克股票代码：TEAM）遭受 6.3% 的打击。</blockquote>However, those declines are just the latest in a series of drops for these stocks and many like them. Tesla is trading about 27% lower than its all-time highs from just a couple months ago. Zoom has given up roughly 46% from its record levels late last year. The move seems to reveal skepticism about whether the growth stocks have seen their shares rise too far, too quickly.<blockquote>然而，这些下跌只是这些股票以及许多类似股票的一系列下跌中的最新一次。特斯拉的股价比几个月前的历史高点下跌了约 27%。Zoom 已从去年年底的创纪录水平下跌了约 46%。此举似乎揭示了人们对成长型股票的股价是否上涨得太远、太快的怀疑。</blockquote>What the Fed has to do with high-growth stocks<blockquote>美联储如何处理高增长股票</blockquote>It might seem as though the&nbsp;Federal Reserve's actions&nbsp;wouldn't necessarily have any impact on high-growth stocks. Investor interest in these companies has been so high that access to capital hasn't been a problem. Many of them have more than enough cash to make it through tough times in the future, and some of them are even cash-flow positive and can sustain themselves simply by maintaining current business levels.<blockquote>美联储的行动似乎不一定会对高增长股票产生任何影响。投资者对这些公司的兴趣如此之高，以至于获得资本不成问题。他们中的许多人有足够的现金来度过未来的困难时期，其中一些人甚至现金流为正，只需维持当前的业务水平即可维持自己。</blockquote>However, the recent rise in interest rates due to inflationary fears has been troubling to investors. One potential impact is that if you value a company based on the discounted value of its future financial results, then higher interest rates make the performance that comes further into the future less valuable. With rates at zero, it almost doesn't matter from a valuation standpoint whether a company makes money now or five years from now, and low rates reward companies that defer smaller profits now in favor of larger profits later. That's been the basis for the huge run-ups in these stocks.<blockquote>然而，最近因通胀担忧而导致的利率上升一直困扰着投资者。一个潜在的影响是，如果你根据一家公司未来财务业绩的贴现值对其进行估值，那么较高的利率会使未来的业绩变得不那么有价值。在利率为零的情况下，从估值的角度来看，一家公司现在还是五年后赚钱几乎无关紧要，低利率会奖励那些现在推迟较小利润以支持以后更大利润的公司。这是这些股票大幅上涨的基础。</blockquote>Higher interest rates reverse that trend. Suddenly, companies will get rewarded for producing results now rather than later. Valuations on companies that will take years to play out will take a hit.<blockquote>利率上升扭转了这一趋势。突然间，公司将因为现在而不是以后产生成果而获得回报。需要数年时间才能发挥作用的公司的估值将受到打击。</blockquote>Seize the opportunity<blockquote>抓住机遇</blockquote>For long-term investors, that actually might be good news. It would signal that the stock price declines aren't about fears that companies aren't going to be able to live up to their full potential. Rather, it just reduces the value put on those same strong future results.<blockquote>对于长期投资者来说，这实际上可能是个好消息。这将表明股价下跌并不是因为担心公司无法充分发挥其潜力。相反，它只是降低了那些同样强劲的未来结果的价值。</blockquote>If you can get the same strong business at a discount, you should jump at the chance. That's the advantage long-term investors have, and now's the time to look closely at some of the stocks the rest of the market is giving up on.<blockquote>如果你能以折扣价获得同样强劲的生意，你应该抓住机会。这是长期投资者所拥有的优势，现在是时候仔细研究一些市场其他参与者正在放弃的股票了。</blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Are the Nasdaq's Highest-Growth Stocks Panicking About a Strong Economy?<blockquote>为什么纳斯达克增长最快的股票对强劲的经济感到恐慌？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Are the Nasdaq's Highest-Growth Stocks Panicking About a Strong Economy?<blockquote>为什么纳斯达克增长最快的股票对强劲的经济感到恐慌？</blockquote>\n</h2>\n<h4 class=\"meta\">\n\n Motley Fool2021-03-19 10:53\n\n</h4>\n</header>\n<article>\nThe answer may lie in a simple concept.<blockquote>答案可能在于一个简单的概念。</blockquote>The&nbsp;Nasdaq Composite&nbsp;(NASDAQINDEX:^IXIC)&nbsp;was the stock market leader throughout most of 2020, powering ahead to much greater gains than its fellow major benchmarks. In particular, high-growth stocks that were able to hold up well despite the recessionary conditions in the broader economy stood out as big winners and rewarded their shareholders handsomely.<blockquote>这个纳斯达克复合材料（纳斯达克指数：^IXIC）在 2020 年的大部分时间里一直是股市的领导者，其涨幅远超其他主要基准。特别是，尽管整体经济衰退，但仍能保持良好状态的高增长股票成为大赢家，并为股东带来了丰厚的回报。</blockquote>However, that narrative has changed lately.on Thursday, the Nasdaq was down another 3%, building on losses that have taken the index into correction territory even as other benchmarks were at or near record highs. Moreover, it seems as though the Nasdaq is falling even though Fed chair Jerome Powell told investors Wednesday that the economy appeared to be in solid shape.<blockquote>然而，这种说法最近发生了变化。周四，纳斯达克指数又下跌了 3%，尽管其他基准指数处于或接近历史高位，但该指数仍处于修正区域。此外，尽管美联储主席鲍威尔周三告诉投资者，经济似乎状况良好，但纳斯达克似乎正在下跌。</blockquote>There's one possible answer for this apparent disconnect. If investors are actually paying attention to a common way of valuing&nbsp;high-growth stocks, then the Fed's nonchalance about a key impact that a stronger economy could bring might explain the near-panic among shareholders of those stocks.<blockquote>对于这种明显的脱节，有一个可能的答案。如果投资者确实关注的是高增长股票估值的常见方式，那么美联储对经济走强可能带来的关键影响漠不关心，这或许可以解释这些股票股东近乎恐慌的原因。</blockquote>More damage in high-growth stocks<blockquote>高增长股票遭受更多损失</blockquote>To be clear, Thursday's declines weren't monumental by themselves.Tesla&nbsp;(NASDAQ:TSLA), for instance, was down just 7%.MercadoLibre&nbsp;(NASDAQ:MELI)&nbsp;saw a 6.6% slump, while&nbsp;Zoom Video Communications&nbsp;(NASDAQ:ZM)&nbsp;lost 6% and&nbsp;Atlassian&nbsp;(NASDAQ:TEAM)&nbsp;took a 6.3% hit.<blockquote>需要明确的是，周四的下跌本身并不是巨大的。特斯拉例如，（纳斯达克股票代码：TSLA）仅下跌了 7%。自由市场（纳斯达克股票代码：MELI）下跌 6.6%，而Zoom Video通讯（纳斯达克股票代码：ZM）下跌 6%阿特拉斯（纳斯达克股票代码：TEAM）遭受 6.3% 的打击。</blockquote>However, those declines are just the latest in a series of drops for these stocks and many like them. Tesla is trading about 27% lower than its all-time highs from just a couple months ago. Zoom has given up roughly 46% from its record levels late last year. The move seems to reveal skepticism about whether the growth stocks have seen their shares rise too far, too quickly.<blockquote>然而，这些下跌只是这些股票以及许多类似股票的一系列下跌中的最新一次。特斯拉的股价比几个月前的历史高点下跌了约 27%。Zoom 已从去年年底的创纪录水平下跌了约 46%。此举似乎揭示了人们对成长型股票的股价是否上涨得太远、太快的怀疑。</blockquote>What the Fed has to do with high-growth stocks<blockquote>美联储如何处理高增长股票</blockquote>It might seem as though the&nbsp;Federal Reserve's actions&nbsp;wouldn't necessarily have any impact on high-growth stocks. Investor interest in these companies has been so high that access to capital hasn't been a problem. Many of them have more than enough cash to make it through tough times in the future, and some of them are even cash-flow positive and can sustain themselves simply by maintaining current business levels.<blockquote>美联储的行动似乎不一定会对高增长股票产生任何影响。投资者对这些公司的兴趣如此之高，以至于获得资本不成问题。他们中的许多人有足够的现金来度过未来的困难时期，其中一些人甚至现金流为正，只需维持当前的业务水平即可维持自己。</blockquote>However, the recent rise in interest rates due to inflationary fears has been troubling to investors. One potential impact is that if you value a company based on the discounted value of its future financial results, then higher interest rates make the performance that comes further into the future less valuable. With rates at zero, it almost doesn't matter from a valuation standpoint whether a company makes money now or five years from now, and low rates reward companies that defer smaller profits now in favor of larger profits later. That's been the basis for the huge run-ups in these stocks.<blockquote>然而，最近因通胀担忧而导致的利率上升一直困扰着投资者。一个潜在的影响是，如果你根据一家公司未来财务业绩的贴现值对其进行估值，那么较高的利率会使未来的业绩变得不那么有价值。在利率为零的情况下，从估值的角度来看，一家公司现在还是五年后赚钱几乎无关紧要，低利率会奖励那些现在推迟较小利润以支持以后更大利润的公司。这是这些股票大幅上涨的基础。</blockquote>Higher interest rates reverse that trend. Suddenly, companies will get rewarded for producing results now rather than later. Valuations on companies that will take years to play out will take a hit.<blockquote>利率上升扭转了这一趋势。突然间，公司将因为现在而不是以后产生成果而获得回报。需要数年时间才能发挥作用的公司的估值将受到打击。</blockquote>Seize the opportunity<blockquote>抓住机遇</blockquote>For long-term investors, that actually might be good news. It would signal that the stock price declines aren't about fears that companies aren't going to be able to live up to their full potential. Rather, it just reduces the value put on those same strong future results.<blockquote>对于长期投资者来说，这实际上可能是个好消息。这将表明股价下跌并不是因为担心公司无法充分发挥其潜力。相反，它只是降低了那些同样强劲的未来结果的价值。</blockquote>If you can get the same strong business at a discount, you should jump at the chance. That's the advantage long-term investors have, and now's the time to look closely at some of the stocks the rest of the market is giving up on.<blockquote>如果你能以折扣价获得同样强劲的生意，你应该抓住机会。这是长期投资者所拥有的优势，现在是时候仔细研究一些市场其他参与者正在放弃的股票了。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.fool.com/investing/2021/03/18/why-are-the-nasdaqs-highest-growth-stocks-panickin/\"> Motley Fool</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZM":"Zoom",".IXIC":"NASDAQ Composite","TSLA":"特斯拉",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.fool.com/investing/2021/03/18/why-are-the-nasdaqs-highest-growth-stocks-panickin/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1193357878","content_text":"The answer may lie in a simple concept.The Nasdaq Composite (NASDAQINDEX:^IXIC) was the stock market leader throughout most of 2020, powering ahead to much greater gains than its fellow major benchmarks. In particular, high-growth stocks that were able to hold up well despite the recessionary conditions in the broader economy stood out as big winners and rewarded their shareholders handsomely.However, that narrative has changed lately.on Thursday, the Nasdaq was down another 3%, building on losses that have taken the index into correction territory even as other benchmarks were at or near record highs. Moreover, it seems as though the Nasdaq is falling even though Fed chair Jerome Powell told investors Wednesday that the economy appeared to be in solid shape.There's one possible answer for this apparent disconnect. If investors are actually paying attention to a common way of valuing high-growth stocks, then the Fed's nonchalance about a key impact that a stronger economy could bring might explain the near-panic among shareholders of those stocks.More damage in high-growth stocksTo be clear, Thursday's declines weren't monumental by themselves.Tesla (NASDAQ:TSLA), for instance, was down just 7%.MercadoLibre (NASDAQ:MELI) saw a 6.6% slump, while Zoom Video Communications (NASDAQ:ZM) lost 6% and Atlassian (NASDAQ:TEAM) took a 6.3% hit.However, those declines are just the latest in a series of drops for these stocks and many like them. Tesla is trading about 27% lower than its all-time highs from just a couple months ago. Zoom has given up roughly 46% from its record levels late last year. The move seems to reveal skepticism about whether the growth stocks have seen their shares rise too far, too quickly.What the Fed has to do with high-growth stocksIt might seem as though the Federal Reserve's actions wouldn't necessarily have any impact on high-growth stocks. Investor interest in these companies has been so high that access to capital hasn't been a problem. Many of them have more than enough cash to make it through tough times in the future, and some of them are even cash-flow positive and can sustain themselves simply by maintaining current business levels.However, the recent rise in interest rates due to inflationary fears has been troubling to investors. One potential impact is that if you value a company based on the discounted value of its future financial results, then higher interest rates make the performance that comes further into the future less valuable. With rates at zero, it almost doesn't matter from a valuation standpoint whether a company makes money now or five years from now, and low rates reward companies that defer smaller profits now in favor of larger profits later. That's been the basis for the huge run-ups in these stocks.Higher interest rates reverse that trend. Suddenly, companies will get rewarded for producing results now rather than later. Valuations on companies that will take years to play out will take a hit.Seize the opportunityFor long-term investors, that actually might be good news. It would signal that the stock price declines aren't about fears that companies aren't going to be able to live up to their full potential. Rather, it just reduces the value put on those same strong future results.If you can get the same strong business at a discount, you should jump at the chance. That's the advantage long-term investors have, and now's the time to look closely at some of the stocks the rest of the market is giving up on.","news_type":1,"symbols_score_info":{"ZM":0.9,".IXIC":0.9,"TSLA":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":737,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":7,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/327711982"}