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antonyye
07-24
散户永远是“韭菜”。这个下跌只是开始,现在加仓等于冒险接“飞刀”。虽然下跌有业绩的影响,更主要的可能是“并入”spaceX消息渐近的结果。特斯拉这点业绩能填补“X”巨大缺口吗?所以买入股票不动动脑筋,怎么会赚钱呢?
特斯拉暴跌15%,空头单日狂赚41亿美元,散户逆势加仓
antonyye
07-23
股价将长期阴跌,这也许是华尔街给予钢铁侠温柔的一击。
Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”
antonyye
07-23
人们在经历投资特斯拉后给予老马的回击...。看似无奈,实是给予谎言的狠狠一击。估计华尔街的决策者们也有点晕...。
美股三大股指小幅收低,SpaceX 跌超 6%
antonyye
07-23
因机构操控而下滑...。
Alphabet股价因持续AI支出而下滑
antonyye
07-17
第一目标100刀以下。。。
SpaceX股价跌破IPO发行价,解禁潮临近或带来更大抛压
antonyye
07-16
台积电反对无效!
报道:ASML计划上调光刻机价格,台积电表示反对
antonyye
07-15
华尔街阳谋很快“破发”...。
三连跌!SpaceX距离破发“一步之遥”,而股东解禁即将到来
antonyye
07-11
相信市场主流投资者会有自己清醒的判断,尤其是散户投资人不会被华尔街的设计所绑架,也不会为了所为的“信仰”而搭上自己的性命钱...。
“去马斯克交易”要来了!市场总有资金不信马斯克“大饼”,华尔街为他们量身定制ETF
antonyye
07-10
直到跟大A完全接轨...。
香港交易所:今日香港市场迎来7家新上市公司,推动香港交易所2026年新股上市数量突破100家。
antonyye
07-09
现在买入spaceX的必将深套其中,木头姐加仓并不能证明什么...。
凯茜·伍德在股价下跌之际加倍押注SpaceX,继续抛售AMD股票
antonyye
07-08
好事情大行都藏着掖着,绝不会告诉你的...。
多家大行发布SpaceX研报,集体看多:人类文明抱负的巅峰
antonyye
07-08
必须的,并且还得继续往下,年内不会回头...。
SpaceX股票几乎回到首日开盘价
antonyye
07-08
大摩喊话内藏私心。,有时也没有底线...。
静默期结束!华尔街大行集体唱多SpaceX,大摩喊出300美元目标价
antonyye
06-30
好荒唐...。
美国要求SpaceX将股票捐赠给“特朗普账户”
antonyye
06-26
你那个脑子里有什么自己还没搞明白,还要掺乎美股 ,太滑稽了!还是省省比较好。
“不跌才怪,我早提醒风险了!”李大霄:225美元接盘SpaceX的那些人,真不知道什么时候能解套
antonyye
06-07
快了。。。
国产车终结日系车28年霸主地位!中国成澳洲汽车最大进口国 比亚迪立大功
antonyye
05-29
出货行情...。
港股异动|内房股拉升,碧桂园暴涨36%,融创中国涨21%,万科企业涨超15%
antonyye
05-11
从技术走势看,下降走势还未到达底部区域,抄了一个“大腿”...。
神话与隐忧,泡泡玛特值得段永平“抄底”吗?
antonyye
03-09
说说你对这篇新闻的看法...
马斯克X平台发声,特斯拉要造首款实体 AGI,人形机器人 2026 量产百万台
antonyye
2025-12-16
拭目以待...。
Wedbush:未来一年内,特斯拉市值将涨破2万亿美元
去老虎APP查看更多动态
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07:11","market":"us","language":"zh","title":"特斯拉暴跌15%,空头单日狂赚41亿美元,散户逆势加仓","url":"https://stock-news.laohu8.com/highlight/detail?id=2653775486","media":"华尔街见闻","summary":"$特斯拉$股价周四大跌,做空者收获颇丰,而围绕这家电动车制造商的分歧也随之加深。特斯拉股价周四盘中一度下挫15%,创逾一年来最大单日跌幅,此前该公司第二季度利润逊于预期,市场对其人工智能与机器人业务前景的疑虑再度升温。据S3 Partners董事总经理Ihor Dusaniwsky测算,此轮抛售令做空者单日按市值计算的账面收益约达41.2亿美元。受年初至今累计跌幅近30%拖累,特斯拉做空者今年迄今的账面收益已累计约达89.2亿美元。","content":"<html><head></head><body><p style=\"text-align: left;\"><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>股价周四大跌,做空者收获颇丰,而围绕这家电动车制造商的分歧也随之加深。</p><p style=\"text-align: left;\">特斯拉股价周四盘中一度下挫15%,创逾一年来最大单日跌幅,此前该公司第二季度利润逊于预期,市场对其人工智能与机器人业务前景的疑虑再度升温。</p><p style=\"text-align: left;\">据S3 Partners董事总经理Ihor Dusaniwsky测算,<strong>此轮抛售令做空者单日按市值计算的账面收益约达41.2亿美元。</strong></p><p style=\"text-align: left;\">受年初至今累计跌幅近30%拖累,特斯拉做空者今年迄今的账面收益已累计约达89.2亿美元。</p><p style=\"text-align: left;\">与此同时,散户投资者却选择逆势加仓,据Vanda Research的Viraj Patel数据显示,<strong>周四特斯拉以4200万美元净买入额成为散户买入最多的股票。</strong></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a97df2a9e58cd0f3935aa1f3437878c2\" data-align=\"center\" tg-width=\"1158\" tg-height=\"767\"/><span></span></p><h2 style=\"text-align: left;\">做空压力居"七巨头"之首</h2><p style=\"text-align: left;\">特斯拉在美股"科技七巨头"中做空比例最高。S3 Partners数据显示,<strong>目前约3%的特斯拉流通股遭到做空,而七巨头中做空比例第二高的<a href=\"https://laohu8.com/S/META\">Meta</a>,该比例仅为1.6%。</strong></p><p style=\"text-align: left;\">估值层面,特斯拉当前股价对应未来12个月预期市盈率高达151倍,<strong>是七巨头中估值最贵的成员,今年以来表现也在七巨头中垫底。</strong></p><p style=\"text-align: left;\"><a href=\"https://laohu8.com/S/0HB5.UK\">法国巴黎银行</a>分析师James Picariello在研究报告中指出,"随着特斯拉以极为激进的资本开支节奏追求雄心勃勃的人工智能目标,我们对其AI进展提速的速度持高度审慎态度,且股价估值中已隐含了极高的预期。"他维持相当于卖出的评级及280美元目标价。</p><p style=\"text-align: left;\">与此同时,低于预期的汽车业务利润率令市场对特斯拉核心业务的盈利能力产生新的质疑,进而动摇其支撑未来宏大愿景与资本开支计划的能力。</p><h2 style=\"text-align: left;\">分歧中现"抄底"声音</h2><p style=\"text-align: left;\">尽管空头气氛浓厚,仍有分析师持不同看法。</p><p style=\"text-align: left;\">晨星分析师Seth Goldstein认为,特斯拉股价目前已被低估,并维持对该公司未来强劲增长的判断,其公允价值目标价为450美元。Goldstein在报告中写道:</p><blockquote><p style=\"text-align: left;\">"对于长期投资者而言,我们认为此次回调是一个良好的买入机会。"</p></blockquote><p style=\"text-align: left;\">Vanda Research分析师Viraj Patel表示,周四特斯拉成为散户投资者买入最多的股票,净买入金额达到4200万美元。</p></body></html>","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>特斯拉暴跌15%,空头单日狂赚41亿美元,散户逆势加仓</title>\n<style 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n特斯拉暴跌15%,空头单日狂赚41亿美元,散户逆势加仓\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-24 07:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>股价周四大跌,做空者收获颇丰,而围绕这家电动车制造商的分歧也随之加深。</p><p style=\"text-align: left;\">特斯拉股价周四盘中一度下挫15%,创逾一年来最大单日跌幅,此前该公司第二季度利润逊于预期,市场对其人工智能与机器人业务前景的疑虑再度升温。</p><p style=\"text-align: left;\">据S3 Partners董事总经理Ihor Dusaniwsky测算,<strong>此轮抛售令做空者单日按市值计算的账面收益约达41.2亿美元。</strong></p><p style=\"text-align: left;\">受年初至今累计跌幅近30%拖累,特斯拉做空者今年迄今的账面收益已累计约达89.2亿美元。</p><p style=\"text-align: left;\">与此同时,散户投资者却选择逆势加仓,据Vanda Research的Viraj Patel数据显示,<strong>周四特斯拉以4200万美元净买入额成为散户买入最多的股票。</strong></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a97df2a9e58cd0f3935aa1f3437878c2\" data-align=\"center\" tg-width=\"1158\" tg-height=\"767\"/><span></span></p><h2 style=\"text-align: left;\">做空压力居"七巨头"之首</h2><p style=\"text-align: left;\">特斯拉在美股"科技七巨头"中做空比例最高。S3 Partners数据显示,<strong>目前约3%的特斯拉流通股遭到做空,而七巨头中做空比例第二高的<a href=\"https://laohu8.com/S/META\">Meta</a>,该比例仅为1.6%。</strong></p><p style=\"text-align: left;\">估值层面,特斯拉当前股价对应未来12个月预期市盈率高达151倍,<strong>是七巨头中估值最贵的成员,今年以来表现也在七巨头中垫底。</strong></p><p style=\"text-align: left;\"><a href=\"https://laohu8.com/S/0HB5.UK\">法国巴黎银行</a>分析师James Picariello在研究报告中指出,"随着特斯拉以极为激进的资本开支节奏追求雄心勃勃的人工智能目标,我们对其AI进展提速的速度持高度审慎态度,且股价估值中已隐含了极高的预期。"他维持相当于卖出的评级及280美元目标价。</p><p style=\"text-align: left;\">与此同时,低于预期的汽车业务利润率令市场对特斯拉核心业务的盈利能力产生新的质疑,进而动摇其支撑未来宏大愿景与资本开支计划的能力。</p><h2 style=\"text-align: left;\">分歧中现"抄底"声音</h2><p style=\"text-align: left;\">尽管空头气氛浓厚,仍有分析师持不同看法。</p><p style=\"text-align: left;\">晨星分析师Seth Goldstein认为,特斯拉股价目前已被低估,并维持对该公司未来强劲增长的判断,其公允价值目标价为450美元。Goldstein在报告中写道:</p><blockquote><p style=\"text-align: left;\">"对于长期投资者而言,我们认为此次回调是一个良好的买入机会。"</p></blockquote><p style=\"text-align: left;\">Vanda Research分析师Viraj Patel表示,周四特斯拉成为散户投资者买入最多的股票,净买入金额达到4200万美元。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a4c7bb412102c46bdb151a08ff1e3ee7","relate_stocks":{"LU1366192091.USD":"ALLIANZ US EQUITY 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Picariello在研究报告中指出,\"随着特斯拉以极为激进的资本开支节奏追求雄心勃勃的人工智能目标,我们对其AI进展提速的速度持高度审慎态度,且股价估值中已隐含了极高的预期。\"他维持相当于卖出的评级及280美元目标价。与此同时,低于预期的汽车业务利润率令市场对特斯拉核心业务的盈利能力产生新的质疑,进而动摇其支撑未来宏大愿景与资本开支计划的能力。分歧中现\"抄底\"声音尽管空头气氛浓厚,仍有分析师持不同看法。晨星分析师Seth Goldstein认为,特斯拉股价目前已被低估,并维持对该公司未来强劲增长的判断,其公允价值目标价为450美元。Goldstein在报告中写道:\"对于长期投资者而言,我们认为此次回调是一个良好的买入机会。\"Vanda Research分析师Viraj Patel表示,周四特斯拉成为散户投资者买入最多的股票,净买入金额达到4200万美元。","news_type":1,"symbols_score_info":{"TSLT":0.6,"FDRV":0.6,"TSLA":2.1,"SMOG":0.6,"TSL":0.6,"TLA":0.6,"TSLQ":0.6,"TSLW":0.6,"TSYY":0.6,"CRSH":0.6,"TSLR":0.6,"TSLY":0.6,"TSLG":0.6,"TESL":0.6,"TEST":0.6,"09766":0.6,"TSLP":0.6,"TSLI":0.6,"TSLS":0.6,"07366":0.6,"IDRV":0.6,"WANT":0.6,"TSII":0.6,"TSDD":0.6,"WATS":0.6,"TSLZ":0.6,"TSLO":0.6,"09366":0.6,"LIT":0.6,"07766":0.6}},"isVote":1,"tweetType":1,"viewCount":480,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3497440221178289","authorId":"3497440221178289","name":"谈定有钱剩","avatar":"https://static.tigerbbs.com/1d04721e63e27afa9053df08271a9233","crmLevel":7,"crmLevelSwitch":0,"authorIdStr":"3497440221178289","idStr":"3497440221178289"},"content":"我猜你肯定是个老登,而且不是做科技行业的。对科技的认知只是靠刷刷营销号短视频。还有你肯定没充值过Ai会员,不会用Ai,只用用豆包 [开心]","text":"我猜你肯定是个老登,而且不是做科技行业的。对科技的认知只是靠刷刷营销号短视频。还有你肯定没充值过Ai会员,不会用Ai,只用用豆包 [开心]","html":"我猜你肯定是个老登,而且不是做科技行业的。对科技的认知只是靠刷刷营销号短视频。还有你肯定没充值过Ai会员,不会用Ai,只用用豆包 [开心]"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":588710005526984,"gmtCreate":1784759544556,"gmtModify":1784759546740,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"股价将长期阴跌,这也许是华尔街给予钢铁侠温柔的一击。","listText":"股价将长期阴跌,这也许是华尔街给予钢铁侠温柔的一击。","text":"股价将长期阴跌,这也许是华尔街给予钢铁侠温柔的一击。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/588710005526984","repostId":"1109659125","repostType":2,"repost":{"id":"1109659125","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1784733768,"share":"https://www.laohu8.com/m/news/1109659125?lang=zh_CN&edition=full","pubTime":"2026-07-22 23:22","market":"us","language":"zh","title":"Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”","url":"https://stock-news.laohu8.com/highlight/detail?id=1109659125","media":"老虎资讯综合","summary":"ARK Invest首席执行官凯茜·伍德为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。周三SpaceX股价报约124美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。","content":"<html><head></head><body><p style=\"text-align: left;\">ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。</p><p style=\"text-align: left;\">伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。</p><p style=\"text-align: left;\">伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”</p><p style=\"text-align: left;\">她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”</p><p style=\"text-align: left;\">周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/952bdddaac5e96e7957a2ab44fc36fb1\" data-align=\"center\" tg-width=\"730\" tg-height=\"644\"/><span></span></p><p style=\"text-align: left;\">伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。</p><p style=\"text-align: left;\">马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”</p></body></html>","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>Cathie Wood称遭遇重挫的SpaceX有望成为“全球历史上最重要的公司”</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; 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23:22</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。</p><p style=\"text-align: left;\">伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。</p><p style=\"text-align: left;\">伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”</p><p style=\"text-align: left;\">她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”</p><p style=\"text-align: left;\">周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。</p><p style=\"text-align: left;\"></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/952bdddaac5e96e7957a2ab44fc36fb1\" data-align=\"center\" tg-width=\"730\" tg-height=\"644\"/><span></span></p><p style=\"text-align: left;\">伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。</p><p style=\"text-align: left;\">马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0fb0479ff67cd3a760cdce353bcb60ed","relate_stocks":{"SPCH":"2倍做多SpaceX ETF-Leverage Shares","LOFF":"2倍做多SpaceX ETF-Direxion","SPCQ":"2倍做空SpaceX ETF-Defiance","SPAL":"2倍做多Space X ETF-GraniteShares","SPCF":"2倍做多SpaceX ETF-ProShares","SPAX":"2倍做多SPACEX ETF-T-REX","SSPC":"2倍做空SpaceX ETF-Leverage Shares","SPCM":"2倍做多SpaceX ETF-Tradr","SPCU":"2倍做多SpaceX ETF-Defiance","SPCG":"2倍做空SpaceX ETF-Tradr","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCX":"SPAC and New Issue ETF"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109659125","content_text":"ARK Invest首席执行官凯茜·伍德(Cathie Wood)为其基金持有的SpaceX股份进行辩护,并表示,尽管该股近期大幅下跌,且即将迎来价值1160亿美元的限售股解禁,但这家航空航天与卫星网络领域的先锋企业,仍有望成为“全球历史上最重要的公司”。伍德周三在接受《Mornings with Maria》节目采访时解释了为何她依然看好SpaceX。此前,ARK Invest管理的基金在SpaceX上市后向该公司投资了8000万美元。伍德表示:“如果与历史高点相比,它(股价)确实下跌了,但当然,它仍高于IPO发行价。我们认为,这家公司有可能成为历史上最重要的公司,而且我指的是全球历史。”她说道:“我们谈论的不仅仅是探索一个全新的世界——宇宙——以及它强大的发射能力,并帮助其他机构实现太空探索;我们谈论的还有一个覆盖全球的通信网络。仔细想想,电信行业一直以来都是一个高度本地化的业务。事实上,过去想进入一个国家市场,通常需要收购当地的电信公司,而如今已经不再如此了。”周三SpaceX股价报约124美元。根据《巴伦周刊》(Barron's)的数据,该股较约225美元的历史高点已下跌约47%,市值蒸发接近1.4万亿美元。目前,SpaceX的市值已降至全球第八位,自上市以来首次落后于Meta。伍德此前在今年5月接受彭博社采访时曾表示,她预计SpaceX股价将会“波动剧烈”,但她同时称赞公司创始人埃隆·马斯克(Elon Musk)拥有“令人难以置信”的垂直整合能力,能够将包括特斯拉(Tesla)、xAI和Neuralink在内的各家公司形成协同效应。马斯克上周在社交平台X上发文警告投资者,不要试图做空SpaceX股票。他表示:“长期维持SpaceX大规模空头仓位的公司,最终能够存活下来的概率非常低。”","news_type":1,"symbols_score_info":{"SNK":0.6,"SSPC":0.6,"SPCU":0.6,"SPCX":2,"SPCH":0.6,"LOFF":0.6,"SPCQ":0.6,"SPAL":0.6,"SPCM":0.6,"SPCG":0.6,"SPCF":0.6,"SPAX":0.6}},"isVote":1,"tweetType":1,"viewCount":549,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":588708983686168,"gmtCreate":1784759215026,"gmtModify":1784759217237,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"人们在经历投资特斯拉后给予老马的回击...。看似无奈,实是给予谎言的狠狠一击。估计华尔街的决策者们也有点晕...。","listText":"人们在经历投资特斯拉后给予老马的回击...。看似无奈,实是给予谎言的狠狠一击。估计华尔街的决策者们也有点晕...。","text":"人们在经历投资特斯拉后给予老马的回击...。看似无奈,实是给予谎言的狠狠一击。估计华尔街的决策者们也有点晕...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/588708983686168","repostId":"2653793217","repostType":2,"repost":{"id":"2653793217","kind":"highlight","weMediaInfo":{"introduction":"链捕手ChainCatcher 成立于 2018 年,是一家领先的中文 Web3 媒体及数据服务商。","home_visible":1,"media_name":"链捕手","id":"1041503808","head_image":"https://community-static.tradeup.com/news/64f0784cc29a0d0070f6e968ef6ec7f5"},"pubTimestamp":1784750568,"share":"https://www.laohu8.com/m/news/2653793217?lang=zh_CN&edition=full","pubTime":"2026-07-23 04:02","market":"hk","language":"zh","title":"美股三大股指小幅收低,SpaceX 跌超 6%","url":"https://stock-news.laohu8.com/highlight/detail?id=2653793217","media":"链捕手","summary":" ChainCatcher 消息,据 Gate 行情数据显示,美股周三收盘,道指初步收跌 0.01%,标普 500 指数跌 0.14%,纳指跌 0.57%。SpaceX (SPCX.O) 跌 6.7%,创下收盘新低。英伟达 (NVDA.O) 涨 2.3%,SK 海力士 (SKHY.O) 跌 3.8%,超微电脑 (SMCI.O) 涨近 20%,戴尔 (DELL.N) 涨 9%。纳斯达克中国金龙指数收跌 1.8%,网易 (NTES.O) 跌超 6%。 ","content":"<html><body><p>ChainCatcher 消息,据 Gate 行情数据显示,美股周三收盘,道指初步收跌 0.01%,标普 500 指数跌 0.14%,纳指跌 0.57%。SpaceX (SPCX.O) 跌 6.7%,创下收盘新低。<a href=\"https://laohu8.com/S/NVDA\">英伟达</a> (NVDA.O) 涨 2.3%,SK 海力士 (SKHY.O) 跌 3.8%,<a href=\"https://laohu8.com/S/SMCI\">超微电脑</a> (SMCI.O) 涨近 20%,<a href=\"https://laohu8.com/S/DELL\">戴尔</a> (DELL.N) 涨 9%。</p><p>纳斯达克中国金龙指数收跌 1.8%,<a href=\"https://laohu8.com/S/NTES\">网易</a> (NTES.O) 跌超 6%。</p></body></html>","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>美股三大股指小幅收低,SpaceX 跌超 6%</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{ 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n美股三大股指小幅收低,SpaceX 跌超 6%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1041503808\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/64f0784cc29a0d0070f6e968ef6ec7f5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">链捕手 </p>\n<p class=\"h-time\">2026-07-23 04:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>ChainCatcher 消息,据 Gate 行情数据显示,美股周三收盘,道指初步收跌 0.01%,标普 500 指数跌 0.14%,纳指跌 0.57%。SpaceX (SPCX.O) 跌 6.7%,创下收盘新低。<a href=\"https://laohu8.com/S/NVDA\">英伟达</a> (NVDA.O) 涨 2.3%,SK 海力士 (SKHY.O) 跌 3.8%,<a href=\"https://laohu8.com/S/SMCI\">超微电脑</a> (SMCI.O) 涨近 20%,<a href=\"https://laohu8.com/S/DELL\">戴尔</a> (DELL.N) 涨 9%。</p><p>纳斯达克中国金龙指数收跌 1.8%,<a href=\"https://laohu8.com/S/NTES\">网易</a> (NTES.O) 跌超 6%。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WARP":"VanEck Space ETF","SPAL":"2倍做多Space X ETF-GraniteShares","SPCF":"2倍做多SpaceX ETF-ProShares","UFO":"Procure Space ETF","SPCG":"2倍做空SpaceX ETF-Tradr","WSPC":"WisdomTree Space Economy UCITS ETF","SPCH":"2倍做多SpaceX ETF-Leverage Shares","LOFF":"2倍做多SpaceX ETF-Direxion","SPAX":"2倍做多SPACEX ETF-T-REX","LU2360107168.USD":"BGF NEXT GENERATION TECHNOLOGY \"A4\" (USD) INC","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","BK4615":"SpaceX概念","MARS":"Roundhill Space & Technology ETF","DXYZ":"Destiny Tech100 Inc","XOVR":"ERShares Private-Public Crossover ETF","BK4089":"非传统电信运营商","LU1861215975.USD":"贝莱德新一代科技基金 A2","SPCM":"2倍做多SpaceX ETF-Tradr","ORBX":"Global X Space Tech ETF","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","SPCQ":"2倍做空SpaceX ETF-Defiance","SSPC":"2倍做空SpaceX ETF-Leverage Shares","SPCU":"2倍做多SpaceX ETF-Defiance","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCX":"SPAC and New Issue ETF"},"source_url":"https://www.chaincatcher.com/article/2277738","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2653793217","content_text":"ChainCatcher 消息,据 Gate 行情数据显示,美股周三收盘,道指初步收跌 0.01%,标普 500 指数跌 0.14%,纳指跌 0.57%。SpaceX (SPCX.O) 跌 6.7%,创下收盘新低。英伟达 (NVDA.O) 涨 2.3%,SK 海力士 (SKHY.O) 跌 3.8%,超微电脑 (SMCI.O) 涨近 20%,戴尔 (DELL.N) 涨 9%。纳斯达克中国金龙指数收跌 1.8%,网易 (NTES.O) 跌超 6%。","news_type":1,"symbols_score_info":{"SPAL":1.5,"SPCU":1.5,"WSPC":0.6,"WARP":0.6,"SSPC":0.6,"SPCH":0.6,"SPCF":0.6,"SNK":1.5,"MARS":0.6,"SPCM":0.6,"SPCQ":0.6,"XOVR":1.5,"SPAX":0.6,"ORBX":0.6,"SPCX":1.5,"DXYZ":1.5,"LOFF":0.6,"UFO":0.6,"SPCG":0.6}},"isVote":1,"tweetType":1,"viewCount":92,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":588706859663464,"gmtCreate":1784758792983,"gmtModify":1784758794837,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"因机构操控而下滑...。","listText":"因机构操控而下滑...。","text":"因机构操控而下滑...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/588706859663464","repostId":"1154096733","repostType":2,"repost":{"id":"1154096733","kind":"news","weMediaInfo":{"introduction":"关注海外资本市场一手动态","home_visible":1,"media_name":"投资观察","id":"1076224072","head_image":"https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922"},"pubTimestamp":1784756527,"share":"https://www.laohu8.com/m/news/1154096733?lang=zh_CN&edition=full","pubTime":"2026-07-23 05:42","market":"us","language":"zh","title":"Alphabet股价因持续AI支出而下滑","url":"https://stock-news.laohu8.com/highlight/detail?id=1154096733","media":"投资观察","summary":"在公布第二季度财报后,Alphabet股价在盘后交易中下跌4.7%。尽管财报整体表现亮眼,但公司披露其自由现金流已转为负值。作为谷歌的母公司,Alphabet持续在人工智能计算所需的数据中心上投入巨资。\n本季度,Alphabet销售额达到1198亿美元,净利润为1121亿美元,两项数据均超出分析师预期。","content":"<p>在公布第二季度财报后,Alphabet股价在盘后交易中下跌4.7%。尽管财报整体表现亮眼,但公司披露其自由现金流已转为负值。作为谷歌的母公司,Alphabet持续在人工智能计算所需的数据中心上投入巨资。</p>\n<p>本季度,Alphabet销售额达到1198亿美元,净利润为1121亿美元,两项数据均超出分析师预期。</p>","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>Alphabet股价因持续AI支出而下滑</title>\n<style 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margin: 0;line-height: 11px;}\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\">\nAlphabet股价因持续AI支出而下滑\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1076224072\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/8296859682db4b478146245e72de1922);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">投资观察 </p>\n<p class=\"h-time\">2026-07-23 05:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>在公布第二季度财报后,Alphabet股价在盘后交易中下跌4.7%。尽管财报整体表现亮眼,但公司披露其自由现金流已转为负值。作为谷歌的母公司,Alphabet持续在人工智能计算所需的数据中心上投入巨资。</p>\n<p>本季度,Alphabet销售额达到1198亿美元,净利润为1121亿美元,两项数据均超出分析师预期。</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e910a0d7e1da6d4a41f6d581ee31760f","relate_stocks":{"LU1221951129.SGD":"NORDEA 1 STABLE RETURN \"HM\" (SGDHDG) INC","IE00B775H168.HKD":"JANUS HENDERSON BALANCED \"A5M\" (HKD) INC","FCOM":"Fidelity MSCI Communication Services Index ETF","BK4587":"ChatGPT概念","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","LU1366333091.USD":"FIDELITY GLOBAL FOCUS \"A\" (USD) ACC","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","LU2362541273.HKD":"WELLINGTON NEXT GENERATION GLOBAL EQUITY \"A\" (HKD) ACC","LU1196500208.SGD":"NORDEA STABLE RETURN \"HB\" (SGDHDG) ACC","LU2362541513.USD":"WELLINGTON NEXT GENERATION 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ACC"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154096733","content_text":"在公布第二季度财报后,Alphabet股价在盘后交易中下跌4.7%。尽管财报整体表现亮眼,但公司披露其自由现金流已转为负值。作为谷歌的母公司,Alphabet持续在人工智能计算所需的数据中心上投入巨资。\n本季度,Alphabet销售额达到1198亿美元,净利润为1121亿美元,两项数据均超出分析师预期。","news_type":1,"symbols_score_info":{"AAPL":1,"GOOG":1,"VTHR":1,"GOOGL":1,"GOU":1,"NVDA":1,"GOOX":1,"XDAT":1,"MAGY":1,"VOX":1,"MSFT":1,"TSLA":1,"YMAG":1,"GGLL":1,"XLC":1,"AIPO":1,"GOOY":1,"USJW.SI":1,"GOOP":1,"SKYY":1,"CHAT":1,"JGRO":1,"ILDR":1,"METV":1,"CMAG":1,"GGLS":1,"AMZN":1,"AGIX":1,"LTL":1,"OGIG":1,"META":1,"GXPC":1,"BULZ":1,"CQTM":1,"ARTY":1,"FCOM":1,"QTOC":1,"EFIV":1,"SNPE":1,"CNEQ":1,"TRUC":1,"GOOW":1}},"isVote":1,"tweetType":1,"viewCount":82,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":586515812200488,"gmtCreate":1784223755499,"gmtModify":1784223757783,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"第一目标100刀以下。。。","listText":"第一目标100刀以下。。。","text":"第一目标100刀以下。。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/586515812200488","repostId":"1163364197","repostType":2,"repost":{"id":"1163364197","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1784181572,"share":"https://www.laohu8.com/m/news/1163364197?lang=zh_CN&edition=full","pubTime":"2026-07-16 13:59","market":"us","language":"zh","title":"SpaceX股价跌破IPO发行价,解禁潮临近或带来更大抛压","url":"https://stock-news.laohu8.com/highlight/detail?id=1163364197","media":"老虎资讯综合","summary":"SpaceX股价跌破其备受瞩目的首次公开募股135美元发行价,这对埃隆·马斯克旗下这家互联网和火箭公司而言是一个不祥信号。周三,SpaceX股价盘中一度跌至132.15美元,最终收于135.27美元。流通股过少推高股价,限售股解禁或改变供需格局虽然SpaceX此次IPO创下美国历史上最大规模IPO纪录,但公司仅拿出不到5%的股份供市场交易。","content":"<html><head></head><body><p style=\"text-align: left;\"><strong>SpaceX</strong>股价跌破其备受瞩目的首次公开募股(IPO)<strong>135美元发行价</strong>,这对<strong>埃隆·马斯克(Elon Musk)旗下这家互联网和火箭公司而言是一个不祥信号。随着8月初</strong>大规模限售股即将解禁,届时纳斯达克市场可交易股份数量将大幅增加,公司股价可能面临更大的波动。</p><p style=\"text-align: left;\">周三,SpaceX股价盘中一度跌至<strong>132.15美元</strong>,最终收于<strong>135.27美元</strong>。自<strong>6月11日</strong>创纪录募资<strong>750亿美元</strong>的IPO完成后,公司股价曾迅速冲高,如今已较上市后创下的历史收盘高点累计下跌<strong>33%</strong>。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0974efd519e5aaf7dc817ad784fc4edd\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">尽管经历了大幅回调,SpaceX目前市值仍约为<strong>1.8万亿美元</strong>,依然是华尔街市值最高的公司之一。</p><h2 style=\"text-align: left;\">流通股过少推高股价,限售股解禁或改变供需格局</h2><p style=\"text-align: left;\">虽然SpaceX此次IPO创下<strong>美国历史上最大规模IPO</strong>纪录,但公司仅拿出<strong>不到5%的股份</strong>供市场交易。</p><p style=\"text-align: left;\">由于可流通股份数量极为有限,投资者争相抢购,推动公司上市首日市值达到约<strong>2.1万亿美元</strong>。</p><p style=\"text-align: left;\">不过,未来几个月,公司内部人士持有股份所受的“限售期(Lockup)”限制将陆续解除,届时大量新增股票可能流入市场。</p><p style=\"text-align: left;\">纽约<strong>Infrastructure Capital Advisors</strong>首席执行官杰伊·哈特菲尔德(Jay Hatfield)表示:</p><blockquote><p style=\"text-align: left;\">“以目前这个价位来看,从交易角度参与这只股票相对比较安全。但我们不会超配,因为限售股解禁即将到来。”</p></blockquote><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d56694681cb89e30413e332dfad87e74\" data-align=\"center\" tg-width=\"1350\" tg-height=\"1064\"/><span></span></p><h2 style=\"text-align: left;\">估值仍然昂贵</h2><p style=\"text-align: left;\">即使经历了此次回调,SpaceX目前的估值仍高达<strong>未来预期营收的49倍</strong>,依然是华尔街估值最高的股票之一。</p><p style=\"text-align: left;\">相比之下,同样由马斯克领导、深受投资者追捧的<strong>特斯拉(Tesla)</strong>,目前的市销率(P/S)约为<strong>15倍</strong>。</p><p style=\"text-align: left;\">看涨的分析师和投资者表示,SpaceX应当享有高溢价,原因在于其盈利的星链互联网服务、政府火箭发射业务,以及马斯克在赢得投资者忠诚度方面的过往记录,尽管该公司去年报告净亏损近50亿美元。</p><p style=\"text-align: left;\">根据LSEG数据,在给出评级的32位分析师中,有27位建议买入,只有一位建议卖出,四位持中性看法。</p><p style=\"text-align: left;\">路透社对2010年以来50宗知名美国IPO的分析显示,上市后头两个月跌破发行价的公司,后续表现逊于未破发的公司,尽管大多数仍实现了上涨。</p><p style=\"text-align: left;\">50家公司中有21家在头两个月内跌破发行价;这些股票自上市以来的涨幅中位数为61%,而其余29家的涨幅中位数为112%。</p><h2 style=\"text-align: left;\">限售股将陆续解禁</h2><p style=\"text-align: left;\">未来数月,针对公司内部人士、员工及早期投资者的一系列股票出售限制将陆续解除。</p><p style=\"text-align: left;\">第一轮解禁中,公司普通员工及部分早期投资者将在<strong>公司首次发布季度财报后的第二个交易日</strong>开始,可以出售共计<strong>9.115亿股</strong>股票。</p><p style=\"text-align: left;\">截至目前,公司尚未公布首次财报发布日期,不过分析师普遍预计将在<strong>8月初</strong>发布。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a83f37395241f9bfc34f0bf4d30f14d6\" data-align=\"center\" tg-width=\"1346\" tg-height=\"798\"/><span></span></p><p style=\"text-align: left;\">按当前股价计算,这批即将解禁的股票市值约为<strong>1230亿美元</strong>,远高于目前纳斯达克市场约<strong>860亿美元</strong>的可流通股票总市值。</p><p style=\"text-align: left;\">此外,如果SpaceX股价在公司即将公布季度财报之前的<strong>连续10个交易日</strong>中,有<strong>至少5个交易日</strong>维持在<strong>175.50美元以上</strong>,那么还将有额外<strong>4.558亿股</strong>获得出售资格。</p><p style=\"text-align: left;\">总体来看,到<strong>12月8日</strong>之前,随着限售限制陆续解除,SpaceX可供市场交易的流通股比例将提高至公司总股本的<strong>40%</strong>。</p><p style=\"text-align: left;\">剩余约<strong>60%的股份</strong>——其中包括<strong>马斯克本人持有的股份</strong>——仍将继续受到限售限制,直到<strong>2027年年中</strong>才会解禁。</p></body></html>","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>SpaceX股价跌破IPO发行价,解禁潮临近或带来更大抛压</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nSpaceX股价跌破IPO发行价,解禁潮临近或带来更大抛压\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-07-16 13:59</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><strong>SpaceX</strong>股价跌破其备受瞩目的首次公开募股(IPO)<strong>135美元发行价</strong>,这对<strong>埃隆·马斯克(Elon Musk)旗下这家互联网和火箭公司而言是一个不祥信号。随着8月初</strong>大规模限售股即将解禁,届时纳斯达克市场可交易股份数量将大幅增加,公司股价可能面临更大的波动。</p><p style=\"text-align: left;\">周三,SpaceX股价盘中一度跌至<strong>132.15美元</strong>,最终收于<strong>135.27美元</strong>。自<strong>6月11日</strong>创纪录募资<strong>750亿美元</strong>的IPO完成后,公司股价曾迅速冲高,如今已较上市后创下的历史收盘高点累计下跌<strong>33%</strong>。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0974efd519e5aaf7dc817ad784fc4edd\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">尽管经历了大幅回调,SpaceX目前市值仍约为<strong>1.8万亿美元</strong>,依然是华尔街市值最高的公司之一。</p><h2 style=\"text-align: left;\">流通股过少推高股价,限售股解禁或改变供需格局</h2><p style=\"text-align: left;\">虽然SpaceX此次IPO创下<strong>美国历史上最大规模IPO</strong>纪录,但公司仅拿出<strong>不到5%的股份</strong>供市场交易。</p><p style=\"text-align: left;\">由于可流通股份数量极为有限,投资者争相抢购,推动公司上市首日市值达到约<strong>2.1万亿美元</strong>。</p><p style=\"text-align: left;\">不过,未来几个月,公司内部人士持有股份所受的“限售期(Lockup)”限制将陆续解除,届时大量新增股票可能流入市场。</p><p style=\"text-align: left;\">纽约<strong>Infrastructure Capital Advisors</strong>首席执行官杰伊·哈特菲尔德(Jay Hatfield)表示:</p><blockquote><p style=\"text-align: left;\">“以目前这个价位来看,从交易角度参与这只股票相对比较安全。但我们不会超配,因为限售股解禁即将到来。”</p></blockquote><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d56694681cb89e30413e332dfad87e74\" data-align=\"center\" tg-width=\"1350\" tg-height=\"1064\"/><span></span></p><h2 style=\"text-align: left;\">估值仍然昂贵</h2><p style=\"text-align: left;\">即使经历了此次回调,SpaceX目前的估值仍高达<strong>未来预期营收的49倍</strong>,依然是华尔街估值最高的股票之一。</p><p style=\"text-align: left;\">相比之下,同样由马斯克领导、深受投资者追捧的<strong>特斯拉(Tesla)</strong>,目前的市销率(P/S)约为<strong>15倍</strong>。</p><p style=\"text-align: left;\">看涨的分析师和投资者表示,SpaceX应当享有高溢价,原因在于其盈利的星链互联网服务、政府火箭发射业务,以及马斯克在赢得投资者忠诚度方面的过往记录,尽管该公司去年报告净亏损近50亿美元。</p><p style=\"text-align: left;\">根据LSEG数据,在给出评级的32位分析师中,有27位建议买入,只有一位建议卖出,四位持中性看法。</p><p style=\"text-align: left;\">路透社对2010年以来50宗知名美国IPO的分析显示,上市后头两个月跌破发行价的公司,后续表现逊于未破发的公司,尽管大多数仍实现了上涨。</p><p style=\"text-align: left;\">50家公司中有21家在头两个月内跌破发行价;这些股票自上市以来的涨幅中位数为61%,而其余29家的涨幅中位数为112%。</p><h2 style=\"text-align: left;\">限售股将陆续解禁</h2><p style=\"text-align: left;\">未来数月,针对公司内部人士、员工及早期投资者的一系列股票出售限制将陆续解除。</p><p style=\"text-align: left;\">第一轮解禁中,公司普通员工及部分早期投资者将在<strong>公司首次发布季度财报后的第二个交易日</strong>开始,可以出售共计<strong>9.115亿股</strong>股票。</p><p style=\"text-align: left;\">截至目前,公司尚未公布首次财报发布日期,不过分析师普遍预计将在<strong>8月初</strong>发布。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a83f37395241f9bfc34f0bf4d30f14d6\" data-align=\"center\" tg-width=\"1346\" tg-height=\"798\"/><span></span></p><p style=\"text-align: left;\">按当前股价计算,这批即将解禁的股票市值约为<strong>1230亿美元</strong>,远高于目前纳斯达克市场约<strong>860亿美元</strong>的可流通股票总市值。</p><p style=\"text-align: left;\">此外,如果SpaceX股价在公司即将公布季度财报之前的<strong>连续10个交易日</strong>中,有<strong>至少5个交易日</strong>维持在<strong>175.50美元以上</strong>,那么还将有额外<strong>4.558亿股</strong>获得出售资格。</p><p style=\"text-align: left;\">总体来看,到<strong>12月8日</strong>之前,随着限售限制陆续解除,SpaceX可供市场交易的流通股比例将提高至公司总股本的<strong>40%</strong>。</p><p style=\"text-align: left;\">剩余约<strong>60%的股份</strong>——其中包括<strong>马斯克本人持有的股份</strong>——仍将继续受到限售限制,直到<strong>2027年年中</strong>才会解禁。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcTILdXqGW4lhmZdKe_jwJLhyq2umyCInO65a2cfEgLP8A&s=10","relate_stocks":{"SNK":"2倍做空SpaceX ETF-GraniteShares","SPCQ":"2倍做空SpaceX ETF-Defiance","SPCX":"SPAC and New Issue ETF","SPCH":"2倍做多SpaceX ETF-Leverage Shares","SPAL":"2倍做多Space X ETF-GraniteShares","SPCU":"2倍做多SpaceX ETF-Defiance","LOFF":"2倍做多SpaceX ETF-Direxion","SPCF":"2倍做多SpaceX ETF-ProShares","SPAX":"2倍做多SPACEX ETF-T-REX","SSPC":"2倍做空SpaceX ETF-Leverage Shares","SPCM":"2倍做多SpaceX ETF-Tradr","SPCG":"2倍做空SpaceX ETF-Tradr"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163364197","content_text":"SpaceX股价跌破其备受瞩目的首次公开募股(IPO)135美元发行价,这对埃隆·马斯克(Elon Musk)旗下这家互联网和火箭公司而言是一个不祥信号。随着8月初大规模限售股即将解禁,届时纳斯达克市场可交易股份数量将大幅增加,公司股价可能面临更大的波动。周三,SpaceX股价盘中一度跌至132.15美元,最终收于135.27美元。自6月11日创纪录募资750亿美元的IPO完成后,公司股价曾迅速冲高,如今已较上市后创下的历史收盘高点累计下跌33%。尽管经历了大幅回调,SpaceX目前市值仍约为1.8万亿美元,依然是华尔街市值最高的公司之一。流通股过少推高股价,限售股解禁或改变供需格局虽然SpaceX此次IPO创下美国历史上最大规模IPO纪录,但公司仅拿出不到5%的股份供市场交易。由于可流通股份数量极为有限,投资者争相抢购,推动公司上市首日市值达到约2.1万亿美元。不过,未来几个月,公司内部人士持有股份所受的“限售期(Lockup)”限制将陆续解除,届时大量新增股票可能流入市场。纽约Infrastructure Capital Advisors首席执行官杰伊·哈特菲尔德(Jay Hatfield)表示:“以目前这个价位来看,从交易角度参与这只股票相对比较安全。但我们不会超配,因为限售股解禁即将到来。”估值仍然昂贵即使经历了此次回调,SpaceX目前的估值仍高达未来预期营收的49倍,依然是华尔街估值最高的股票之一。相比之下,同样由马斯克领导、深受投资者追捧的特斯拉(Tesla),目前的市销率(P/S)约为15倍。看涨的分析师和投资者表示,SpaceX应当享有高溢价,原因在于其盈利的星链互联网服务、政府火箭发射业务,以及马斯克在赢得投资者忠诚度方面的过往记录,尽管该公司去年报告净亏损近50亿美元。根据LSEG数据,在给出评级的32位分析师中,有27位建议买入,只有一位建议卖出,四位持中性看法。路透社对2010年以来50宗知名美国IPO的分析显示,上市后头两个月跌破发行价的公司,后续表现逊于未破发的公司,尽管大多数仍实现了上涨。50家公司中有21家在头两个月内跌破发行价;这些股票自上市以来的涨幅中位数为61%,而其余29家的涨幅中位数为112%。限售股将陆续解禁未来数月,针对公司内部人士、员工及早期投资者的一系列股票出售限制将陆续解除。第一轮解禁中,公司普通员工及部分早期投资者将在公司首次发布季度财报后的第二个交易日开始,可以出售共计9.115亿股股票。截至目前,公司尚未公布首次财报发布日期,不过分析师普遍预计将在8月初发布。按当前股价计算,这批即将解禁的股票市值约为1230亿美元,远高于目前纳斯达克市场约860亿美元的可流通股票总市值。此外,如果SpaceX股价在公司即将公布季度财报之前的连续10个交易日中,有至少5个交易日维持在175.50美元以上,那么还将有额外4.558亿股获得出售资格。总体来看,到12月8日之前,随着限售限制陆续解除,SpaceX可供市场交易的流通股比例将提高至公司总股本的40%。剩余约60%的股份——其中包括马斯克本人持有的股份——仍将继续受到限售限制,直到2027年年中才会解禁。","news_type":1,"symbols_score_info":{"SSPC":0.6,"SNK":0.6,"SPCG":0.6,"SPCQ":0.6,"SPCM":0.6,"SPAL":0.6,"SPCH":0.6,"SPCU":0.6,"LOFF":0.6,"SPCF":0.6,"SPAX":0.6,"SPCX":2}},"isVote":1,"tweetType":1,"viewCount":231,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":586193002238528,"gmtCreate":1784145037265,"gmtModify":1784145039241,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"台积电反对无效!","listText":"台积电反对无效!","text":"台积电反对无效!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/586193002238528","repostId":"2651249374","repostType":2,"repost":{"id":"2651249374","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1784156884,"share":"https://www.laohu8.com/m/news/2651249374?lang=zh_CN&edition=full","pubTime":"2026-07-16 07:08","market":"sg","language":"zh","title":"报道:ASML计划上调光刻机价格,台积电表示反对","url":"https://stock-news.laohu8.com/highlight/detail?id=2651249374","media":"华尔街见闻","summary":"AI芯片需求爆发推动涨价底气,分析指出,包括台积电、三星和SK海力士在内的ASML主要客户业绩强劲,使当前市场环境“具备涨价条件”。CFO表示,Low NA EUV设备的生产效率持续提升,为未来价格提升提供了“相当大的空间”。","content":"<html><head></head><body><p style=\"text-align: left;\">据The Information援引知情人士报道,<strong><a href=\"https://laohu8.com/S/ASML\">ASML</a>正计划上调其芯片制造设备价格。其最大客户<a href=\"https://laohu8.com/S/TSM\">台积电</a>已对这家荷兰光刻机制造商的涨价计划表示反对。</strong></p><p style=\"text-align: left;\">ASML生产用于制造先进半导体所必需的极紫外(EUV)光刻机。在人工智能热潮推动下,该公司设备需求持续激增。</p><p style=\"text-align: left;\">RBC Capital Markets分析师Srini Pajjuri等人在周一的报告中表示,<strong>包括台积电、<a href=\"https://laohu8.com/S/SSNLF\">三星电子</a>和<a href=\"https://laohu8.com/S/SKHY\">SK海力士</a>在内的ASML主要客户业绩强劲,使当前市场环境“具备涨价条件”。</strong></p><p style=\"text-align: left;\">ASML首席财务官Roger Dassen周三在财报电话会上也提及,公司可能调整较低数值孔径(Low NA)EUV光刻机的价格。他表示:</p><blockquote><p style=\"text-align: left;\">“我们持续提升Low NA EUV设备的生产效率,因此,这也为未来潜在的价格提升提供了相当大的空间。”</p></blockquote><p style=\"text-align: left;\">不过,他补充称,由于设备订单交付周期较长,即使调整价格,也不会“明天就反映到定价效果上”。</p><p style=\"text-align: left;\">ASML当天还宣布,今年第二次上调全年销售预期,并计划扩大产能,以满足持续增长的市场需求。公司预计,2026年净销售额将达到430亿至450亿欧元(约492亿美元至515亿美元),高于分析师普遍预期。</p><p style=\"text-align: left;\">与此同时,ASML表示,其客户<a href=\"https://laohu8.com/S/INTC\">英特尔</a>已开始使用公司最先进的光刻机进行芯片生产。ASML首席执行官Christophe Fouquet认为,这表明该设备已具备商业化生产的可行性,是一个积极信号。</p><p style=\"text-align: left;\">此前,台积电曾表示,ASML最先进的高数值孔径(High NA)EUV光刻机单台售价已超过3.5亿欧元(约4.1亿美元),成本过高,不适合用于大规模生产,目前仅用于研发用途。</p></body></html>","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>报道:ASML计划上调光刻机价格,台积电表示反对</title>\n<style 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n报道:ASML计划上调光刻机价格,台积电表示反对\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-16 07:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\">据The Information援引知情人士报道,<strong><a href=\"https://laohu8.com/S/ASML\">ASML</a>正计划上调其芯片制造设备价格。其最大客户<a href=\"https://laohu8.com/S/TSM\">台积电</a>已对这家荷兰光刻机制造商的涨价计划表示反对。</strong></p><p style=\"text-align: left;\">ASML生产用于制造先进半导体所必需的极紫外(EUV)光刻机。在人工智能热潮推动下,该公司设备需求持续激增。</p><p style=\"text-align: left;\">RBC Capital Markets分析师Srini Pajjuri等人在周一的报告中表示,<strong>包括台积电、<a href=\"https://laohu8.com/S/SSNLF\">三星电子</a>和<a href=\"https://laohu8.com/S/SKHY\">SK海力士</a>在内的ASML主要客户业绩强劲,使当前市场环境“具备涨价条件”。</strong></p><p style=\"text-align: left;\">ASML首席财务官Roger Dassen周三在财报电话会上也提及,公司可能调整较低数值孔径(Low NA)EUV光刻机的价格。他表示:</p><blockquote><p style=\"text-align: left;\">“我们持续提升Low NA EUV设备的生产效率,因此,这也为未来潜在的价格提升提供了相当大的空间。”</p></blockquote><p style=\"text-align: left;\">不过,他补充称,由于设备订单交付周期较长,即使调整价格,也不会“明天就反映到定价效果上”。</p><p style=\"text-align: left;\">ASML当天还宣布,今年第二次上调全年销售预期,并计划扩大产能,以满足持续增长的市场需求。公司预计,2026年净销售额将达到430亿至450亿欧元(约492亿美元至515亿美元),高于分析师普遍预期。</p><p style=\"text-align: left;\">与此同时,ASML表示,其客户<a href=\"https://laohu8.com/S/INTC\">英特尔</a>已开始使用公司最先进的光刻机进行芯片生产。ASML首席执行官Christophe Fouquet认为,这表明该设备已具备商业化生产的可行性,是一个积极信号。</p><p style=\"text-align: left;\">此前,台积电曾表示,ASML最先进的高数值孔径(High NA)EUV光刻机单台售价已超过3.5亿欧元(约4.1亿美元),成本过高,不适合用于大规模生产,目前仅用于研发用途。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/8c95dc9b62af63b498dce2238fb18ba3","relate_stocks":{"LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","LU2106854487.HKD":"ALLIANZ THEMATICA \"AMG\" (HKD) INC","LU2041044095.USD":"Blackrock Circular Economy A2 USD","CORO":"ISHARES INTERNATIONAL COUNTRY ROTATION ACTIVE ETF","LU0353189763.USD":"ALLSPRING US ALL CAP GROWTH FUND \"I\" (USD) ACC","LU0965509101.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"A\" (SGDHDG) ACC","LU0689626769.HKD":"AB SICAV I - SUSTAINABLE US THEMATIC PORTFOLIO \"A\" (HKD) ACC","LU0823414551.USD":"BNP PARIBAS ENERGY TRANSITION \"C\" (USD) INC","FENI":"FIDELITY ENHANCED INTERNATIONAL 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Equity ETF","IE00BKPKM429.USD":"NEUBERGER BERMAN GLOBAL SUSTAINABLE EQUITY \"A\" (USD) ACC","IE00BZ199S13.USD":"BNY MELLON MOBILITY INNOVATION \"B\" (USD) ACC","LU2087625088.SGD":"ALLSPRING US ALL CAP GROWTH \"A\" (SGDHDG) ACC","BK4505":"高瓴资本持仓","03145":"华夏亚洲高息股","LU1868837722.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES \"2\" (USD) ACC","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","GSID":"Goldman Sachs MarketBeta International Equity ETF","IE00BFXG0V08.USD":"BNY MELLON GLOBAL LEADERS \"B\" (USD) ACC","LU1323610961.USD":"UBS (LUX) EQUITY SICAV - LONG TERM THEMES (USD) \"P\" (USD) ACC","BK4605":"半导体精选"},"source_url":"https://wallstreetcn.com/articles/3777051","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2651249374","content_text":"据The Information援引知情人士报道,ASML正计划上调其芯片制造设备价格。其最大客户台积电已对这家荷兰光刻机制造商的涨价计划表示反对。ASML生产用于制造先进半导体所必需的极紫外(EUV)光刻机。在人工智能热潮推动下,该公司设备需求持续激增。RBC Capital Markets分析师Srini Pajjuri等人在周一的报告中表示,包括台积电、三星电子和SK海力士在内的ASML主要客户业绩强劲,使当前市场环境“具备涨价条件”。ASML首席财务官Roger Dassen周三在财报电话会上也提及,公司可能调整较低数值孔径(Low NA)EUV光刻机的价格。他表示:“我们持续提升Low NA EUV设备的生产效率,因此,这也为未来潜在的价格提升提供了相当大的空间。”不过,他补充称,由于设备订单交付周期较长,即使调整价格,也不会“明天就反映到定价效果上”。ASML当天还宣布,今年第二次上调全年销售预期,并计划扩大产能,以满足持续增长的市场需求。公司预计,2026年净销售额将达到430亿至450亿欧元(约492亿美元至515亿美元),高于分析师普遍预期。与此同时,ASML表示,其客户英特尔已开始使用公司最先进的光刻机进行芯片生产。ASML首席执行官Christophe Fouquet认为,这表明该设备已具备商业化生产的可行性,是一个积极信号。此前,台积电曾表示,ASML最先进的高数值孔径(High NA)EUV光刻机单台售价已超过3.5亿欧元(约4.1亿美元),成本过高,不适合用于大规模生产,目前仅用于研发用途。","news_type":1,"symbols_score_info":{"CGGO":0.6,"ASML":1.97,"AVXC":0.6,"FFGX":0.6,"GSID":0.6,"UMMA":0.6,"AVEM":0.6,"CWI":0.6,"FENI":0.6,"BAI":0.6,"TEK":0.6,"ASIA":0.6,"DBEF":0.6,"ASMH":0.6,"CGNG":0.6,"TSM":1.91,"EMM":0.6,"KNOW":0.6,"CNEQ":0.6,"TSMY":0.6,"MEMX":0.6,"SPWO":0.6,"TSMU":0.6,"TSMG":0.6,"DBEU":0.6,"FDTX":0.6,"WUGI":0.6,"CORO":0.6,"TSMZ":0.6,"TTEQ":0.6,"STSM":0.6,"AIQ":0.6,"ASMU":0.6,"CGDG":0.6,"EFA":0.6,"SMH":0.6,"03165":0.6,"CGIC":0.6,"ILOW":0.6,"AVSE":0.6,"03145":0.6,"IEFA":0.6,"EMC":0.6,"TSMX":0.6,"SPTE":0.6}},"isVote":1,"tweetType":1,"viewCount":647,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":585910732488936,"gmtCreate":1784074712425,"gmtModify":1784074714433,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"华尔街阳谋很快“破发”...。","listText":"华尔街阳谋很快“破发”...。","text":"华尔街阳谋很快“破发”...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/585910732488936","repostId":"2651661487","repostType":2,"repost":{"id":"2651661487","kind":"highlight","weMediaInfo":{"introduction":"追踪全球财经热点,精选影响您财富的资讯,投资理财必备神器!","home_visible":1,"media_name":"华尔街见闻","id":"1084101182","head_image":"https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e"},"pubTimestamp":1784073777,"share":"https://www.laohu8.com/m/news/2651661487?lang=zh_CN&edition=full","pubTime":"2026-07-15 08:02","market":"nz","language":"zh","title":"三连跌!SpaceX距离破发“一步之遥”,而股东解禁即将到来","url":"https://stock-news.laohu8.com/highlight/detail?id=2651661487","media":"华尔街见闻","summary":"SpaceX上市仅数周,股价已从峰值狂泻三分之一,市值蒸发近8500亿美元,距135美元发行价仅一步之遥。高达30倍的预期市销率令估值承压,内部人士解禁潮更将持续释放供给。尽管华尔街八成分析师喊买、目标价高出逾70%,市场却用脚投票——史上最大IPO的神话,正面临破发的考验。","content":"<html><head></head><body><blockquote><p style=\"text-align: left;\"><span>SpaceX上市仅数周,股价已从峰值狂泻三分之一,市值蒸发近8500亿美元,距135美元发行价仅一步之遥。高达30倍的预期市销率令估值承压,内部人士解禁潮更将持续释放供给。尽管华尔街八成分析师喊买、目标价高出逾70%,市场却用脚投票——史上最大IPO的神话,正面临破发的考验。</span></p></blockquote><p style=\"text-align: left;\">SpaceX上市仅数周,股价已岌岌可危。连续三个交易日下跌后,这家马斯克旗下的火箭与卫星公司股价距离IPO发行价仅剩一步之遥,市场对这只史上最大规模IPO的信心正经受严峻考验。</p><p style=\"text-align: left;\">SpaceX股价周二下跌2.2%,收于每股136.08美元,仅比上月IPO发行价135美元高出1美元。自上市后的峰值至今,该股已累计下挫约三分之一,市值蒸发近8500亿美元。</p><p style=\"text-align: left;\">破发对于一家新上市公司而言,不仅是数字层面的挫败,更是对公司与承销商精心构建的市场叙事的直接冲击。在上市初期便令股东陷入亏损,部分新股从此一蹶不振。与此同时,内部人士持股解禁窗口即将陆续开启,市场供给压力将持续累积。</p><h2 style=\"text-align: left;\">三连跌将股价逼近发行价</h2><p style=\"text-align: left;\">SpaceX于6月12日在纳斯达克完成上市,首日收盘价为160.95美元,创下美国IPO史上最大规模融资纪录。然而,此后股价持续承压,近期连续三个交易日下跌后,已跌破首日收盘价,并逼近135美元的发行价关口。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5722f470994d6d73273fde14c1f62194\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">Mahoney Asset Management首席执行官Ken Mahoney表示,<strong>“我们仍认为SpaceX尚未触底。未来数月将有持续的股票供给涌入市场,需要密切关注届时的需求能否承接。”</strong></p><p style=\"text-align: left;\">彭博数据显示,剔除特殊目的收购公司后,2026年美国IPO整体加权平均回报率已降至5.3%,SpaceX是主要拖累因素之一。该群体的整体回报率约为<a href=\"https://laohu8.com/S/161125\">标普500</a>指数同期表现的一半。</p><h2 style=\"text-align: left;\">高估值与解禁压力构成双重隐忧</h2><p style=\"text-align: left;\">市场对SpaceX的担忧,不仅来自短期股价走势,更源于其估值水平与股票供给的双重压力。</p><p style=\"text-align: left;\"><strong>从估值角度看,SpaceX当前预期市销率超过30倍,位居纳斯达克100指数成分股前列,仅略低于<a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a>。</strong>怀疑者认为,这一水平难以为股价提供足够的安全边际。</p><p style=\"text-align: left;\">与此同时,公司面临较长的锁定期安排,内部人士持股将在未来数月内分批解禁并陆续流入市场。Ken Mahoney指出,持续的供给释放将对股价形成压制,尤其是在需求尚不明朗的情况下。</p><h2 style=\"text-align: left;\">华尔街分析师仍看多,但市场用脚投票</h2><p style=\"text-align: left;\">尽管股价持续下挫,华尔街分析师的整体立场依然偏多。据彭博汇编数据,<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>、<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>及<a href=\"https://laohu8.com/S/GS\">高盛</a>等十余家投行均以买入评级启动覆盖。目前逾80%的分析师建议买入,平均目标价为236.25美元,较周二收盘价高出逾70%。</p><p style=\"text-align: left;\">不过,市场表现与分析师预期之间的背离,折射出投资者对高估值新股的审慎情绪。彭博对过去15年30只主要科技股IPO的分析显示,这些股票在上市首年平均最大跌幅达55%,表明新股上市初期的剧烈波动具有一定普遍性。</p><p style=\"text-align: left;\">SpaceX并非今年唯一跌破首日收盘价的大型IPO。彭博数据显示,今年规模最大的10只IPO中,有6只股价已低于首日收盘水平,创纪录的IPO开局之年同样伴随着普遍的波动。</p><h2 style=\"text-align: left;\">破发或触发抄底买盘,部分投资者已在观望</h2><p style=\"text-align: left;\">跌近发行价也可能带来转机。对于此前未能参与IPO认购的投资者而言,135美元附近或构成具有吸引力的入场点位。</p><p style=\"text-align: left;\">Wealth Consulting Group首席市场策略师Talley Leger表示,<strong>他在IPO阶段选择观望,原因是预判SpaceX随后将被纳入纳斯达克指数</strong>——其公司持有追踪该指数的基金。"如果跌势继续,我可能会考虑买入一些个股,因为我认同这家公司的愿景与目标,"Leger说。</p><p style=\"text-align: left;\">SpaceX上周刚通过快速纳入规则被添加至纳斯达克100指数。投资者与承销商将密切关注SpaceX与韩国芯片制造商<a href=\"https://laohu8.com/S/HXSCL\">SK Hynix</a> Inc.美国存托凭证在未来数周的走势,两家公司在不到一个月内相继完成了创纪录的上市。</p></body></html>","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>三连跌!SpaceX距离破发“一步之遥”,而股东解禁即将到来</title>\n<style 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n三连跌!SpaceX距离破发“一步之遥”,而股东解禁即将到来\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1084101182\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/66809d1f5c2e43e2bdf15820c6d6897e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">华尔街见闻 </p>\n<p class=\"h-time\">2026-07-15 08:02</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><blockquote><p style=\"text-align: left;\"><span>SpaceX上市仅数周,股价已从峰值狂泻三分之一,市值蒸发近8500亿美元,距135美元发行价仅一步之遥。高达30倍的预期市销率令估值承压,内部人士解禁潮更将持续释放供给。尽管华尔街八成分析师喊买、目标价高出逾70%,市场却用脚投票——史上最大IPO的神话,正面临破发的考验。</span></p></blockquote><p style=\"text-align: left;\">SpaceX上市仅数周,股价已岌岌可危。连续三个交易日下跌后,这家马斯克旗下的火箭与卫星公司股价距离IPO发行价仅剩一步之遥,市场对这只史上最大规模IPO的信心正经受严峻考验。</p><p style=\"text-align: left;\">SpaceX股价周二下跌2.2%,收于每股136.08美元,仅比上月IPO发行价135美元高出1美元。自上市后的峰值至今,该股已累计下挫约三分之一,市值蒸发近8500亿美元。</p><p style=\"text-align: left;\">破发对于一家新上市公司而言,不仅是数字层面的挫败,更是对公司与承销商精心构建的市场叙事的直接冲击。在上市初期便令股东陷入亏损,部分新股从此一蹶不振。与此同时,内部人士持股解禁窗口即将陆续开启,市场供给压力将持续累积。</p><h2 style=\"text-align: left;\">三连跌将股价逼近发行价</h2><p style=\"text-align: left;\">SpaceX于6月12日在纳斯达克完成上市,首日收盘价为160.95美元,创下美国IPO史上最大规模融资纪录。然而,此后股价持续承压,近期连续三个交易日下跌后,已跌破首日收盘价,并逼近135美元的发行价关口。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5722f470994d6d73273fde14c1f62194\" data-align=\"center\" data-image-type=\"kline\" tg-width=\"560\" tg-height=\"240\"/><span></span></p><p style=\"text-align: left;\">Mahoney Asset Management首席执行官Ken Mahoney表示,<strong>“我们仍认为SpaceX尚未触底。未来数月将有持续的股票供给涌入市场,需要密切关注届时的需求能否承接。”</strong></p><p style=\"text-align: left;\">彭博数据显示,剔除特殊目的收购公司后,2026年美国IPO整体加权平均回报率已降至5.3%,SpaceX是主要拖累因素之一。该群体的整体回报率约为<a href=\"https://laohu8.com/S/161125\">标普500</a>指数同期表现的一半。</p><h2 style=\"text-align: left;\">高估值与解禁压力构成双重隐忧</h2><p style=\"text-align: left;\">市场对SpaceX的担忧,不仅来自短期股价走势,更源于其估值水平与股票供给的双重压力。</p><p style=\"text-align: left;\"><strong>从估值角度看,SpaceX当前预期市销率超过30倍,位居纳斯达克100指数成分股前列,仅略低于<a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a>。</strong>怀疑者认为,这一水平难以为股价提供足够的安全边际。</p><p style=\"text-align: left;\">与此同时,公司面临较长的锁定期安排,内部人士持股将在未来数月内分批解禁并陆续流入市场。Ken Mahoney指出,持续的供给释放将对股价形成压制,尤其是在需求尚不明朗的情况下。</p><h2 style=\"text-align: left;\">华尔街分析师仍看多,但市场用脚投票</h2><p style=\"text-align: left;\">尽管股价持续下挫,华尔街分析师的整体立场依然偏多。据彭博汇编数据,<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>、<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>及<a href=\"https://laohu8.com/S/GS\">高盛</a>等十余家投行均以买入评级启动覆盖。目前逾80%的分析师建议买入,平均目标价为236.25美元,较周二收盘价高出逾70%。</p><p style=\"text-align: left;\">不过,市场表现与分析师预期之间的背离,折射出投资者对高估值新股的审慎情绪。彭博对过去15年30只主要科技股IPO的分析显示,这些股票在上市首年平均最大跌幅达55%,表明新股上市初期的剧烈波动具有一定普遍性。</p><p style=\"text-align: left;\">SpaceX并非今年唯一跌破首日收盘价的大型IPO。彭博数据显示,今年规模最大的10只IPO中,有6只股价已低于首日收盘水平,创纪录的IPO开局之年同样伴随着普遍的波动。</p><h2 style=\"text-align: left;\">破发或触发抄底买盘,部分投资者已在观望</h2><p style=\"text-align: left;\">跌近发行价也可能带来转机。对于此前未能参与IPO认购的投资者而言,135美元附近或构成具有吸引力的入场点位。</p><p style=\"text-align: left;\">Wealth Consulting Group首席市场策略师Talley Leger表示,<strong>他在IPO阶段选择观望,原因是预判SpaceX随后将被纳入纳斯达克指数</strong>——其公司持有追踪该指数的基金。"如果跌势继续,我可能会考虑买入一些个股,因为我认同这家公司的愿景与目标,"Leger说。</p><p style=\"text-align: left;\">SpaceX上周刚通过快速纳入规则被添加至纳斯达克100指数。投资者与承销商将密切关注SpaceX与韩国芯片制造商<a href=\"https://laohu8.com/S/HXSCL\">SK Hynix</a> Inc.美国存托凭证在未来数周的走势,两家公司在不到一个月内相继完成了创纪录的上市。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/2cb39ef2500763ed02451a67f81df811","relate_stocks":{"BK4089":"非传统电信运营商","SPCM":"2倍做多SpaceX ETF-Tradr","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCU":"2倍做多SpaceX ETF-Defiance","SPCX":"SPAC and New Issue ETF","SPCG":"2倍做空SpaceX ETF-Tradr","UFO":"Procure Space ETF","BK4615":"SpaceX概念","SPCQ":"2倍做空SpaceX ETF-Defiance","SPAX":"2倍做多SPACEX ETF-T-REX","XOVR":"ERShares Private-Public Crossover ETF","SPCH":"2倍做多SpaceX ETF-Leverage Shares","SPCF":"2倍做多SpaceX ETF-ProShares","SPAL":"2倍做多Space X ETF-GraniteShares","LOFF":"2倍做多SpaceX ETF-Direxion","DXYZ":"Destiny Tech100 Inc","SSPC":"2倍做空SpaceX ETF-Leverage Shares"},"source_url":"https://wallstreetcn.com/articles/3776953","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2651661487","content_text":"SpaceX上市仅数周,股价已从峰值狂泻三分之一,市值蒸发近8500亿美元,距135美元发行价仅一步之遥。高达30倍的预期市销率令估值承压,内部人士解禁潮更将持续释放供给。尽管华尔街八成分析师喊买、目标价高出逾70%,市场却用脚投票——史上最大IPO的神话,正面临破发的考验。SpaceX上市仅数周,股价已岌岌可危。连续三个交易日下跌后,这家马斯克旗下的火箭与卫星公司股价距离IPO发行价仅剩一步之遥,市场对这只史上最大规模IPO的信心正经受严峻考验。SpaceX股价周二下跌2.2%,收于每股136.08美元,仅比上月IPO发行价135美元高出1美元。自上市后的峰值至今,该股已累计下挫约三分之一,市值蒸发近8500亿美元。破发对于一家新上市公司而言,不仅是数字层面的挫败,更是对公司与承销商精心构建的市场叙事的直接冲击。在上市初期便令股东陷入亏损,部分新股从此一蹶不振。与此同时,内部人士持股解禁窗口即将陆续开启,市场供给压力将持续累积。三连跌将股价逼近发行价SpaceX于6月12日在纳斯达克完成上市,首日收盘价为160.95美元,创下美国IPO史上最大规模融资纪录。然而,此后股价持续承压,近期连续三个交易日下跌后,已跌破首日收盘价,并逼近135美元的发行价关口。Mahoney Asset Management首席执行官Ken Mahoney表示,“我们仍认为SpaceX尚未触底。未来数月将有持续的股票供给涌入市场,需要密切关注届时的需求能否承接。”彭博数据显示,剔除特殊目的收购公司后,2026年美国IPO整体加权平均回报率已降至5.3%,SpaceX是主要拖累因素之一。该群体的整体回报率约为标普500指数同期表现的一半。高估值与解禁压力构成双重隐忧市场对SpaceX的担忧,不仅来自短期股价走势,更源于其估值水平与股票供给的双重压力。从估值角度看,SpaceX当前预期市销率超过30倍,位居纳斯达克100指数成分股前列,仅略低于Palantir Technologies Inc.。怀疑者认为,这一水平难以为股价提供足够的安全边际。与此同时,公司面临较长的锁定期安排,内部人士持股将在未来数月内分批解禁并陆续流入市场。Ken Mahoney指出,持续的供给释放将对股价形成压制,尤其是在需求尚不明朗的情况下。华尔街分析师仍看多,但市场用脚投票尽管股价持续下挫,华尔街分析师的整体立场依然偏多。据彭博汇编数据,摩根士丹利、摩根大通及高盛等十余家投行均以买入评级启动覆盖。目前逾80%的分析师建议买入,平均目标价为236.25美元,较周二收盘价高出逾70%。不过,市场表现与分析师预期之间的背离,折射出投资者对高估值新股的审慎情绪。彭博对过去15年30只主要科技股IPO的分析显示,这些股票在上市首年平均最大跌幅达55%,表明新股上市初期的剧烈波动具有一定普遍性。SpaceX并非今年唯一跌破首日收盘价的大型IPO。彭博数据显示,今年规模最大的10只IPO中,有6只股价已低于首日收盘水平,创纪录的IPO开局之年同样伴随着普遍的波动。破发或触发抄底买盘,部分投资者已在观望跌近发行价也可能带来转机。对于此前未能参与IPO认购的投资者而言,135美元附近或构成具有吸引力的入场点位。Wealth Consulting Group首席市场策略师Talley Leger表示,他在IPO阶段选择观望,原因是预判SpaceX随后将被纳入纳斯达克指数——其公司持有追踪该指数的基金。\"如果跌势继续,我可能会考虑买入一些个股,因为我认同这家公司的愿景与目标,\"Leger说。SpaceX上周刚通过快速纳入规则被添加至纳斯达克100指数。投资者与承销商将密切关注SpaceX与韩国芯片制造商SK Hynix Inc.美国存托凭证在未来数周的走势,两家公司在不到一个月内相继完成了创纪录的上市。","news_type":1,"symbols_score_info":{"SNK":1.5,"SSPC":0.6,"SPCU":1.5,"SPCX":1.5,"XOVR":1.5,"SPCH":0.6,"LOFF":0.6,"SPCF":0.6,"SPCQ":0.6,"SPAL":1.5,"UFO":0.6,"SPCM":0.6,"SPCG":0.6,"DXYZ":1.5,"SPAX":0.6}},"isVote":1,"tweetType":1,"viewCount":618,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":584475736936672,"gmtCreate":1783724371438,"gmtModify":1783724373629,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"相信市场主流投资者会有自己清醒的判断,尤其是散户投资人不会被华尔街的设计所绑架,也不会为了所为的“信仰”而搭上自己的性命钱...。","listText":"相信市场主流投资者会有自己清醒的判断,尤其是散户投资人不会被华尔街的设计所绑架,也不会为了所为的“信仰”而搭上自己的性命钱...。","text":"相信市场主流投资者会有自己清醒的判断,尤其是散户投资人不会被华尔街的设计所绑架,也不会为了所为的“信仰”而搭上自己的性命钱...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/584475736936672","repostId":"2650906797","repostType":2,"repost":{"id":"2650906797","kind":"news","pubTimestamp":1783653644,"share":"https://www.laohu8.com/m/news/2650906797?lang=zh_CN&edition=full","pubTime":"2026-07-10 11:20","market":"hk","language":"zh","title":"“去马斯克交易”要来了!市场总有资金不信马斯克“大饼”,华尔街为他们量身定制ETF","url":"https://stock-news.laohu8.com/highlight/detail?id=2650906797","media":"智通财经","summary":"市场总有一批资金不信任马斯克,华尔街ETF发行商开始为他们重构指数这个细分投资行业最初建立在低成本宽基指数投资之上,如今却日益演变为围绕个性化投资构建的ETF资产管理业务。“剔除马斯克”的投资组合能否获得持久需求,仍有待观察。被动投资也开始选择立场:当“马斯克溢价”开始遭遇信任折价,华尔街顺势推出去马斯克ETFQQNE拟剔除纳斯达克100指数中的特斯拉和SpaceX;SPNE目前拟从标普500指数中剔除特斯拉,并在SpaceX未来被纳入后同样排除。","content":"<html><head></head><body><p style=\"text-align: left;\">对于每一位希望增加对于全球首富埃隆·马斯克旗下大型科技资产配置敞口的投资者们而言,华尔街资管巨头们似乎都在不断推出相应的交易所交易基金(即与马斯克深度捆绑的ETF资产),甚至频繁与高杠杆操作产生关联。如今,华尔街又开始为那些希望减少马斯克相关的任何风险配置敞口的投资者们筹划产品。</p><p style=\"text-align: left;\">尽管马斯克在电动汽车、商业航天、人工智能和卫星通信等最前沿科技领域取得了具有历史意义的重大突破,仍有一部分投资者不愿无条件支付“马斯克愿景溢价”,而是希望主动规避公司治理、政治风险关联、估值严重透支、股价高波动以及过度依赖核心人物等风险。</p><p style=\"text-align: left;\">作为迄今为止全球最富有的人,马斯克过去曾完成过别人认为不可能完成的事——通过SpaceX打造出具有商业可行性的高频火箭发射业务,通过全球电动汽车领军者<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>让电动汽车进入主流市场,以及通过Starlink(即星链)从太空提供互联网连接基础设施服务。但也有投资者怀疑,马斯克是否真的能够<a href=\"https://laohu8.com/S/01630\">建成</a>他在奥斯汀勾最新勒出的“最史诗级”造芯行动以及是否真的能够实现他憧憬的“人工智能、自动驾驶、人形机器人以及太空AI数据中心超级蓝图”。</p><p style=\"text-align: left;\">智通财经APP了解到,华尔街新兴ETF发行商Subversive ETFs已提交文件,拟推出两只可能掀起股市巨浪的交易所交易基金(ETF),在追踪纳斯达克100指数和<a href=\"https://laohu8.com/S/161125\">标普500</a>指数的同时,剔除由这位世界首富创立、控制或领导的所有与马斯克关联公司。这两只拟议产品的交易代码将分别为QQNE和SPNE,成为交易所交易基金行业正以越来越具体的投资观点切割更加广泛市场敞口的最新例证。</p><p style=\"text-align: left;\">这些申请文件延续了持续数年的竞赛:将几乎所有关于马斯克的观点包装成可交易ETF股票市场产品。投资者们目前已经可以买入放大特斯拉公司涨跌幅的高杠杆ETF基金、与SpaceX挂钩的新近推出的杠杆基金;直到不久前,市场甚至还有一只名字直接为ELON的交易所交易基金,同时做多特斯拉并做空<a href=\"https://laohu8.com/S/F\">福特汽车</a>公司等传统汽车制造商。最新产品将允许投资者持有几乎整个基准指数,同时表达对某一个人的特定看法。实际上,它们把一只被动指数基金变成了针对某个人的主动投资观点。</p><p style=\"text-align: left;\"><strong>市场总有一批资金不信任马斯克,华尔街ETF发行商开始为他们重构指数</strong></p><p style=\"text-align: left;\">这个细分投资行业最初建立在低成本宽基指数投资之上,如今却日益演变为围绕个性化投资构建的ETF资产管理业务。随着市场对小众产品的需求激增,发行商争相推出不仅追踪市场,而且能够表达投资者对个别公司、企业高管和投资主题越来越具体看法的基金。</p><p style=\"text-align: left;\">“剔除马斯克”的投资组合能否获得持久需求,仍有待观察。但这份申请文件凸显出当前交易所交易基金热潮背后的一个更广泛现实:只要投资者能够想象出一种交易,华尔街便越来越相信自己能够用一个ETF产品交易代码将其包装出来。</p><p style=\"text-align: left;\">“埃隆·马斯克是一位极具争议和两极分化色彩的人物,因此交易所交易基金发行商试图从中获利是合乎逻辑的。”NovaDius财富管理公司总裁内特·杰拉奇表示,“不过话说回来,如果我们如今已经进入这样一个交易所交易基金世界——发行商仅仅因为投资者对某一个人的情绪,就从主要指数中剔除单家公司——那么我们可能已经把市场切分得有些过细了。”</p><p style=\"text-align: left;\">这些产品的推出还发生在SpaceX近期被纳入纳斯达克100指数之后。此前,在多家指数提供商修改自身指数纳入规则、以确保超大型首次公开募股项目能够更快进入指数后,SpaceX已经被纳入富时罗素和MSCI指数。上述纳入决定触发了数十亿美元的跟踪上述基准指数的被动买盘,并使这只股票进入数以百万计追踪基准指数的愈发庞大投资组合——有一部分投资者对此里程碑欢欣鼓舞,另一些投资者则提出批评,表示他们不用指数基金愿承接这家尚未盈利且高估值的SpaceX。相比之下,标普道琼斯指数公司拒绝加速将该公司(SpaceX)纳入旗下的各项基准指数。</p><p style=\"text-align: left;\">对于SpaceX被快速纳入基准指数的怀疑者们认为,这种做法迫使被动投资者在常规价格发现过程尚未充分完成之前,就买入市场上一些估值最为昂贵的公司。</p><p style=\"text-align: left;\">ETF.com总裁兼研究主管戴夫·纳迪格表示,围绕高度具体投资观点构建的基金往往难以形成持久的投资者群体。</p><p style=\"text-align: left;\">“它们或许确实能够吸引一些并未进行太多深入思考的资金,但这种受众极其狭窄的微型概念,实际上并不真正适合所有散户投资者。”他在谈及这份新申请文件时表示,“这是有趣的营销,而不是真正的投资逻辑。”</p><p style=\"text-align: left;\">根据Bloomberg Intelligence资深市场研究分析师埃里克·巴尔丘纳斯汇编的数据,这些产品的申请还紧随一个创纪录的6月之后:当月约有214只交易所交易基金推出,创下历史最高纪录。整个交易所交易基金市场当月吸引约1910亿美元资金流入,为有记录以来第二高的单月吸金规模,超过2700只基金获得资金流入。交易量也逼近历史最高水平,达到约7万亿美元。</p><p style=\"text-align: left;\">根据周三提交的ETF发行说明书,这些基金的金融顾问们押注,一些投资者会认为与马斯克有关联的公司存在“潜在的公司治理隐忧、政治风险以及更高估值、愈发剧烈的股价波动性”。</p><p style=\"text-align: left;\">“我理解发行商为何感到有必要设计新的方式来脱颖而出。”来自华尔街知名<a href=\"https://laohu8.com/S/FISI\">金融机构</a>晨星公司的杰弗里·普塔克表示,“投资者仍应保持警惕,因为这款产品可能无法实现真正合理的投资目的,或者可能要求投资者为极其有限的狭窄而非宽基收益付出极其高昂的代价。”</p><p style=\"text-align: left;\"><strong>被动投资也开始选择立场:当“马斯克溢价”开始遭遇信任折价,华尔街顺势推出去马斯克ETF</strong></p><p style=\"text-align: left;\">QQNE拟剔除纳斯达克100指数中的特斯拉和SpaceX;SPNE目前拟从标普500指数中剔除特斯拉,并在SpaceX未来被纳入后同样排除。基金申请文件明确将潜在公司治理隐忧、政治风险和更高股价波动列为产品吸引力,同时也承认,若特斯拉、SpaceX这类被剔除公司继续大幅跑赢市场,这类ETF基金可能落后于原始基准指数。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9103ecee7e3b2f56594eceef798a6f1\" data-align=\"center\" tg-width=\"200\" tg-height=\"120\"/><span></span></p><p style=\"text-align: left;\">这一最新市场动态,折射出的宏观投资主题在于被动投资正在被“观点化”和“个性化”重新改造。SpaceX上市后迅速进入纳斯达克100指数,<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>估算由此可能触发约43亿美元被动买盘;这意味着大量指数基金持有人即使不认同其估值、治理结构或马斯克本人,也会因指数规则被动持有该股。</p><p style=\"text-align: left;\">“去马斯克”ETF则将这种不可选择的指数敞口重新拆分,把原本针对企业基本面的投资判断,升级为对创始人信誉、政治行为和关键人物风险的可交易表达。其真正意义不在于证明市场已经否定马斯克,而在于华尔街开始为“我看好美国大型科技股,但不愿承担马斯克相关风险”这一精细化需求提供工具。</p><p style=\"text-align: left;\">这类产品更像风险预算工具,而不是天然能够创造阿尔法的反马斯克押注。对高度重视治理稳定性、政治中立性或单一人物风险的投资者,它可以降低特斯拉和SpaceX事件冲击对组合的影响;但其代价可能包括管理费、跟踪误差、较低流动性以及错失两家公司上涨收益。目前申请文件中的具体费率尚未确定,基金也没有真实业绩记录,因此投资者真正需要比较的不是“喜欢还是讨厌马斯克”,而是剔除这些股票之后,获得的风险下降能否覆盖费用和潜在机会成本。</p><p style=\"text-align: left;\">诚然,马斯克在科技领域取得的那些足以载入人类社会史册的历史性成就可以被尊重,但资本市场不会因此免除对估值兑现、公司治理和现金流回报的审判;所谓“去马斯克”交易,本质上是把个人崇拜/个人延误情绪重新还原为可量化的风险资产敞口。</p></body></html>","source":"stock_zhitongcaijing","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\" 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n“去马斯克交易”要来了!市场总有资金不信马斯克“大饼”,华尔街为他们量身定制ETF\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-10 11:20 北京时间 <a href=http://www.zhitongcaijing.com/content/detail/1465722.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>对于每一位希望增加对于全球首富埃隆·马斯克旗下大型科技资产配置敞口的投资者们而言,华尔街资管巨头们似乎都在不断推出相应的交易所交易基金(即与马斯克深度捆绑的ETF资产),甚至频繁与高杠杆操作产生关联。如今,华尔街又开始为那些希望减少马斯克相关的任何风险配置敞口的投资者们筹划产品。尽管马斯克在电动汽车、商业航天、人工智能和卫星通信等最前沿科技领域取得了具有历史意义的重大突破,仍有一部分投资者不愿...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1465722.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/fb3952e78c4c7330e4960d16950edf07","relate_stocks":{"TSLO":"2倍上限加速TSLA ETF-Leverage Shares","HK0000914686.HKD":"GFI Global Select Equity Fund Class A (HKD)","BK4551":"寇图资本持仓","BK4598":"佩洛西持仓","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","TSLA":"特斯拉","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","SG9999015978.USD":"利安颠覆性创新基金A","LU0823411888.USD":"法巴消费创新基金 Cap","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC 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INC"},"source_url":"http://www.zhitongcaijing.com/content/detail/1465722.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2650906797","content_text":"对于每一位希望增加对于全球首富埃隆·马斯克旗下大型科技资产配置敞口的投资者们而言,华尔街资管巨头们似乎都在不断推出相应的交易所交易基金(即与马斯克深度捆绑的ETF资产),甚至频繁与高杠杆操作产生关联。如今,华尔街又开始为那些希望减少马斯克相关的任何风险配置敞口的投资者们筹划产品。尽管马斯克在电动汽车、商业航天、人工智能和卫星通信等最前沿科技领域取得了具有历史意义的重大突破,仍有一部分投资者不愿无条件支付“马斯克愿景溢价”,而是希望主动规避公司治理、政治风险关联、估值严重透支、股价高波动以及过度依赖核心人物等风险。作为迄今为止全球最富有的人,马斯克过去曾完成过别人认为不可能完成的事——通过SpaceX打造出具有商业可行性的高频火箭发射业务,通过全球电动汽车领军者特斯拉让电动汽车进入主流市场,以及通过Starlink(即星链)从太空提供互联网连接基础设施服务。但也有投资者怀疑,马斯克是否真的能够建成他在奥斯汀勾最新勒出的“最史诗级”造芯行动以及是否真的能够实现他憧憬的“人工智能、自动驾驶、人形机器人以及太空AI数据中心超级蓝图”。智通财经APP了解到,华尔街新兴ETF发行商Subversive ETFs已提交文件,拟推出两只可能掀起股市巨浪的交易所交易基金(ETF),在追踪纳斯达克100指数和标普500指数的同时,剔除由这位世界首富创立、控制或领导的所有与马斯克关联公司。这两只拟议产品的交易代码将分别为QQNE和SPNE,成为交易所交易基金行业正以越来越具体的投资观点切割更加广泛市场敞口的最新例证。这些申请文件延续了持续数年的竞赛:将几乎所有关于马斯克的观点包装成可交易ETF股票市场产品。投资者们目前已经可以买入放大特斯拉公司涨跌幅的高杠杆ETF基金、与SpaceX挂钩的新近推出的杠杆基金;直到不久前,市场甚至还有一只名字直接为ELON的交易所交易基金,同时做多特斯拉并做空福特汽车公司等传统汽车制造商。最新产品将允许投资者持有几乎整个基准指数,同时表达对某一个人的特定看法。实际上,它们把一只被动指数基金变成了针对某个人的主动投资观点。市场总有一批资金不信任马斯克,华尔街ETF发行商开始为他们重构指数这个细分投资行业最初建立在低成本宽基指数投资之上,如今却日益演变为围绕个性化投资构建的ETF资产管理业务。随着市场对小众产品的需求激增,发行商争相推出不仅追踪市场,而且能够表达投资者对个别公司、企业高管和投资主题越来越具体看法的基金。“剔除马斯克”的投资组合能否获得持久需求,仍有待观察。但这份申请文件凸显出当前交易所交易基金热潮背后的一个更广泛现实:只要投资者能够想象出一种交易,华尔街便越来越相信自己能够用一个ETF产品交易代码将其包装出来。“埃隆·马斯克是一位极具争议和两极分化色彩的人物,因此交易所交易基金发行商试图从中获利是合乎逻辑的。”NovaDius财富管理公司总裁内特·杰拉奇表示,“不过话说回来,如果我们如今已经进入这样一个交易所交易基金世界——发行商仅仅因为投资者对某一个人的情绪,就从主要指数中剔除单家公司——那么我们可能已经把市场切分得有些过细了。”这些产品的推出还发生在SpaceX近期被纳入纳斯达克100指数之后。此前,在多家指数提供商修改自身指数纳入规则、以确保超大型首次公开募股项目能够更快进入指数后,SpaceX已经被纳入富时罗素和MSCI指数。上述纳入决定触发了数十亿美元的跟踪上述基准指数的被动买盘,并使这只股票进入数以百万计追踪基准指数的愈发庞大投资组合——有一部分投资者对此里程碑欢欣鼓舞,另一些投资者则提出批评,表示他们不用指数基金愿承接这家尚未盈利且高估值的SpaceX。相比之下,标普道琼斯指数公司拒绝加速将该公司(SpaceX)纳入旗下的各项基准指数。对于SpaceX被快速纳入基准指数的怀疑者们认为,这种做法迫使被动投资者在常规价格发现过程尚未充分完成之前,就买入市场上一些估值最为昂贵的公司。ETF.com总裁兼研究主管戴夫·纳迪格表示,围绕高度具体投资观点构建的基金往往难以形成持久的投资者群体。“它们或许确实能够吸引一些并未进行太多深入思考的资金,但这种受众极其狭窄的微型概念,实际上并不真正适合所有散户投资者。”他在谈及这份新申请文件时表示,“这是有趣的营销,而不是真正的投资逻辑。”根据Bloomberg Intelligence资深市场研究分析师埃里克·巴尔丘纳斯汇编的数据,这些产品的申请还紧随一个创纪录的6月之后:当月约有214只交易所交易基金推出,创下历史最高纪录。整个交易所交易基金市场当月吸引约1910亿美元资金流入,为有记录以来第二高的单月吸金规模,超过2700只基金获得资金流入。交易量也逼近历史最高水平,达到约7万亿美元。根据周三提交的ETF发行说明书,这些基金的金融顾问们押注,一些投资者会认为与马斯克有关联的公司存在“潜在的公司治理隐忧、政治风险以及更高估值、愈发剧烈的股价波动性”。“我理解发行商为何感到有必要设计新的方式来脱颖而出。”来自华尔街知名金融机构晨星公司的杰弗里·普塔克表示,“投资者仍应保持警惕,因为这款产品可能无法实现真正合理的投资目的,或者可能要求投资者为极其有限的狭窄而非宽基收益付出极其高昂的代价。”被动投资也开始选择立场:当“马斯克溢价”开始遭遇信任折价,华尔街顺势推出去马斯克ETFQQNE拟剔除纳斯达克100指数中的特斯拉和SpaceX;SPNE目前拟从标普500指数中剔除特斯拉,并在SpaceX未来被纳入后同样排除。基金申请文件明确将潜在公司治理隐忧、政治风险和更高股价波动列为产品吸引力,同时也承认,若特斯拉、SpaceX这类被剔除公司继续大幅跑赢市场,这类ETF基金可能落后于原始基准指数。这一最新市场动态,折射出的宏观投资主题在于被动投资正在被“观点化”和“个性化”重新改造。SpaceX上市后迅速进入纳斯达克100指数,摩根大通估算由此可能触发约43亿美元被动买盘;这意味着大量指数基金持有人即使不认同其估值、治理结构或马斯克本人,也会因指数规则被动持有该股。“去马斯克”ETF则将这种不可选择的指数敞口重新拆分,把原本针对企业基本面的投资判断,升级为对创始人信誉、政治行为和关键人物风险的可交易表达。其真正意义不在于证明市场已经否定马斯克,而在于华尔街开始为“我看好美国大型科技股,但不愿承担马斯克相关风险”这一精细化需求提供工具。这类产品更像风险预算工具,而不是天然能够创造阿尔法的反马斯克押注。对高度重视治理稳定性、政治中立性或单一人物风险的投资者,它可以降低特斯拉和SpaceX事件冲击对组合的影响;但其代价可能包括管理费、跟踪误差、较低流动性以及错失两家公司上涨收益。目前申请文件中的具体费率尚未确定,基金也没有真实业绩记录,因此投资者真正需要比较的不是“喜欢还是讨厌马斯克”,而是剔除这些股票之后,获得的风险下降能否覆盖费用和潜在机会成本。诚然,马斯克在科技领域取得的那些足以载入人类社会史册的历史性成就可以被尊重,但资本市场不会因此免除对估值兑现、公司治理和现金流回报的审判;所谓“去马斯克”交易,本质上是把个人崇拜/个人延误情绪重新还原为可量化的风险资产敞口。","news_type":1,"symbols_score_info":{"TSLA":1.91,"TSLO":0.6,"02834":0.6,"HXC":1.85,"NAPR":0.6,"QID":0.6,"LIT":0.6,"TSL":0.6,"TQQQ":0.6,"03086":0.6,"TLA":0.6,"TSLQ":0.6,"TSLI":0.6,"TQQY":0.6,"TEST":0.6,"QMAR":0.6,".IXIC":1.85,"PSQ":0.6,"NJAN":0.6,"WANT":0.6,"TSLS":0.6,"GPIQ":0.6,"TSLT":0.6,"TSII":0.6,"TSLW":0.6,"07522":0.6,"09086":0.6,"SQQQ":0.6,"07366":0.6,"CRSH":0.6,"SMOG":0.6,"09766":0.6,"TSLP":0.6,"QQQX":0.6,"NOCT":0.6,"FDRV":0.6,"09366":0.6,"NDX":1.85,"TSLL":0.6,"TSDD":0.6,"TSLR":0.6,"TSLZ":0.6,"QLD":0.6,"03455":0.6,"07568":0.6,"QDEC":0.6,"07266":0.6,"TESL":0.6,"QQQM":0.6,"07766":0.6,"03034":0.6,"09834":0.6,"QQQ":0.6,"IDRV":0.6,"NJUL":0.6,"TSLG":0.6,"07261":0.6,"TSLY":0.6,"TSYY":0.6}},"isVote":1,"tweetType":1,"viewCount":425,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":584090979066776,"gmtCreate":1783631771813,"gmtModify":1783631773884,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"直到跟大A完全接轨...。","listText":"直到跟大A完全接轨...。","text":"直到跟大A完全接轨...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/584090979066776","repostId":"2650692598","repostType":4,"repost":{"id":"2650692598","kind":"live","pubTimestamp":1783593663,"share":"https://www.laohu8.com/m/news/2650692598?lang=zh_CN&edition=full","pubTime":"2026-07-09 18:41","market":"us","language":"zh","title":"香港交易所:今日香港市场迎来7家新上市公司,推动香港交易所2026年新股上市数量突破100家。","url":"https://stock-news.laohu8.com/highlight/detail?id=2650692598","media":"智通财经","summary":"香港交易所:今日香港市场迎来7家新上市公司,推动香港交易所2026年新股上市数量突破100家。","content":"<html><body><div>\n<div>\r\n 香港交易所:今日香港市场迎来7家新上市公司,推动香港交易所2026年新股上市数量突破100家。 </div>\n</div></body></html>","source":"live_zhitongcaijing","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>香港交易所:今日香港市场迎来7家新上市公司,推动香港交易所2026年新股上市数量突破100家。</title>\n<style 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href=\"https://www.zhitongcaijing.com/immediately.html?type=usstock\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"IPOS":"Renaissance International IPO ETF"},"source_url":"https://www.zhitongcaijing.com/immediately.html?type=usstock","is_english":false,"share_image_url":"https://static.laohu8.com/6ca2dcdccfa2217fb20a0351f4efe814","article_id":"2650692598","content_text":"香港交易所:今日香港市场迎来7家新上市公司,推动香港交易所2026年新股上市数量突破100家。","news_type":1,"symbols_score_info":{"IPOS":1.5}},"isVote":1,"tweetType":1,"viewCount":173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583734834618936,"gmtCreate":1783544901892,"gmtModify":1783544903884,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"现在买入spaceX的必将深套其中,木头姐加仓并不能证明什么...。","listText":"现在买入spaceX的必将深套其中,木头姐加仓并不能证明什么...。","text":"现在买入spaceX的必将深套其中,木头姐加仓并不能证明什么...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583734834618936","repostId":"1127705711","repostType":2,"repost":{"id":"1127705711","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1783497176,"share":"https://www.laohu8.com/m/news/1127705711?lang=zh_CN&edition=full","pubTime":"2026-07-08 15:52","market":"us","language":"zh","title":"凯茜·伍德在股价下跌之际加倍押注SpaceX,继续抛售AMD股票","url":"https://stock-news.laohu8.com/highlight/detail?id=1127705711","media":"老虎资讯综合","summary":"木头姐继续加仓SpaceX,减持AMD,押注商业航天、淡化芯片配置由“木头姐”Cathie Wood掌舵的ARK Invest周二继续调整投资组合,重点加码商业航天领域,同时减持半导体股。近期,市场对SpaceX的关注持续升温,焦点之一是公司IPO协议中的一项“30%规则”。值得一提的是,ARK周一已大举买入91.7万股SpaceX。市场目前聚焦AMD将于8月4日公布的业绩。事实上,ARK周一也已卖出约860万美元的AMD股票。","content":"<html><head></head><body><p style=\"text-align: left;\"><strong>木头姐继续加仓SpaceX,减持AMD,押注商业航天、淡化芯片配置</strong></p><p style=\"text-align: left;\">由“木头姐”Cathie Wood掌舵的ARK Invest周二继续调整投资组合,重点加码商业航天领域,同时减持半导体股。</p><h3 style=\"text-align: left;\"><strong>加仓 <a href=\"https://laohu8.com/S/SPCX\">SpaceX</a></strong></h3><p style=\"text-align: left;\">ARK旗下ARK Innovation ETF买入44,196股SpaceX,按周二收盘价149.47美元计算,交易金额约660万美元。</p><p style=\"text-align: left;\">近期,市场对SpaceX的关注持续升温,焦点之一是公司IPO协议中的一项“30%规则”。</p><p style=\"text-align: left;\">根据协议,约9.12亿股(约占符合条件非关联股东持股的20%)将于8月5日(财报公布两个交易日后)解除限售;若SpaceX股价在财报公布前10个交易日中,有5个交易日收盘价高于175.50美元(较135美元IPO价格上涨30%),则8月7日还将额外解禁约4.56亿股(约占符合条件持股的10%)。</p><p style=\"text-align: left;\">这意味着,若股价持续走强,财报后进入市场流通的股份数量反而可能增加,从而加大潜在抛压。</p><p style=\"text-align: left;\">值得一提的是,ARK周一已大举买入91.7万股SpaceX。</p><h3 style=\"text-align: left;\"><strong>减持 <a href=\"https://laohu8.com/S/AMD\">美国超微公司</a></strong></h3><p style=\"text-align: left;\">与此同时,ARK旗下ARKK卖出8,667股Advanced Micro Devices,按收盘价516.11美元计算,套现金额约450万美元。</p><p style=\"text-align: left;\">AMD近期股价持续承压,市场情绪偏谨慎。不过,知名财经主持人Jim Cramer认为,此轮回调反而提供了买入机会,理由是AMD在CPU和GPU领域的需求依然稳健。</p><p style=\"text-align: left;\">市场目前聚焦AMD将于8月4日公布的业绩。华尔街预计,公司第二季度每股收益(EPS)为1.55美元,营收约112.8亿美元。目前分析师整体仍维持“买入”评级,高盛、富国银行及康托·菲茨杰拉德近期均上调目标价。不过,由于估值仍处于较高水平,AMD股价在市场避险情绪升温时仍可能面临较大波动。</p><p style=\"text-align: left;\">事实上,ARK周一也已卖出约860万美元的AMD股票。</p><h3 style=\"text-align: left;\"><strong>其他主要交易</strong></h3><ul><li><p style=\"text-align: left;\">买入607,567股 <a href=\"https://laohu8.com/S/XE\">X-Energy</a>。</p></li><li><p style=\"text-align: left;\">买入67,187股 <a href=\"https://laohu8.com/S/KTOS\">克瑞拓斯安全防卫</a>。</p></li><li><p style=\"text-align: left;\">买入6,354股 <a href=\"https://laohu8.com/S/LLY\">礼来</a>。</p></li><li><p style=\"text-align: left;\">卖出44,330股 <a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>。</p></li><li><p style=\"text-align: left;\">卖出228股 <a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>。</p></li></ul></body></html>","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>凯茜·伍德在股价下跌之际加倍押注SpaceX,继续抛售AMD股票</title>\n<style 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margin: 0;line-height: 11px;}\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\">\n凯茜·伍德在股价下跌之际加倍押注SpaceX,继续抛售AMD股票\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-07-08 15:52</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p style=\"text-align: left;\"><strong>木头姐继续加仓SpaceX,减持AMD,押注商业航天、淡化芯片配置</strong></p><p style=\"text-align: left;\">由“木头姐”Cathie Wood掌舵的ARK Invest周二继续调整投资组合,重点加码商业航天领域,同时减持半导体股。</p><h3 style=\"text-align: left;\"><strong>加仓 <a href=\"https://laohu8.com/S/SPCX\">SpaceX</a></strong></h3><p style=\"text-align: left;\">ARK旗下ARK Innovation ETF买入44,196股SpaceX,按周二收盘价149.47美元计算,交易金额约660万美元。</p><p style=\"text-align: left;\">近期,市场对SpaceX的关注持续升温,焦点之一是公司IPO协议中的一项“30%规则”。</p><p style=\"text-align: left;\">根据协议,约9.12亿股(约占符合条件非关联股东持股的20%)将于8月5日(财报公布两个交易日后)解除限售;若SpaceX股价在财报公布前10个交易日中,有5个交易日收盘价高于175.50美元(较135美元IPO价格上涨30%),则8月7日还将额外解禁约4.56亿股(约占符合条件持股的10%)。</p><p style=\"text-align: left;\">这意味着,若股价持续走强,财报后进入市场流通的股份数量反而可能增加,从而加大潜在抛压。</p><p style=\"text-align: left;\">值得一提的是,ARK周一已大举买入91.7万股SpaceX。</p><h3 style=\"text-align: left;\"><strong>减持 <a href=\"https://laohu8.com/S/AMD\">美国超微公司</a></strong></h3><p style=\"text-align: left;\">与此同时,ARK旗下ARKK卖出8,667股Advanced Micro Devices,按收盘价516.11美元计算,套现金额约450万美元。</p><p style=\"text-align: left;\">AMD近期股价持续承压,市场情绪偏谨慎。不过,知名财经主持人Jim Cramer认为,此轮回调反而提供了买入机会,理由是AMD在CPU和GPU领域的需求依然稳健。</p><p style=\"text-align: left;\">市场目前聚焦AMD将于8月4日公布的业绩。华尔街预计,公司第二季度每股收益(EPS)为1.55美元,营收约112.8亿美元。目前分析师整体仍维持“买入”评级,高盛、富国银行及康托·菲茨杰拉德近期均上调目标价。不过,由于估值仍处于较高水平,AMD股价在市场避险情绪升温时仍可能面临较大波动。</p><p style=\"text-align: left;\">事实上,ARK周一也已卖出约860万美元的AMD股票。</p><h3 style=\"text-align: left;\"><strong>其他主要交易</strong></h3><ul><li><p style=\"text-align: left;\">买入607,567股 <a href=\"https://laohu8.com/S/XE\">X-Energy</a>。</p></li><li><p style=\"text-align: left;\">买入67,187股 <a href=\"https://laohu8.com/S/KTOS\">克瑞拓斯安全防卫</a>。</p></li><li><p style=\"text-align: left;\">买入6,354股 <a href=\"https://laohu8.com/S/LLY\">礼来</a>。</p></li><li><p style=\"text-align: left;\">卖出44,330股 <a href=\"https://laohu8.com/S/BNTX\">BioNTech SE</a>。</p></li><li><p style=\"text-align: left;\">卖出228股 <a href=\"https://laohu8.com/S/BABA\">阿里巴巴</a>。</p></li></ul></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/0fb0479ff67cd3a760cdce353bcb60ed","relate_stocks":{"AMDU":"Defiance Leveraged Long + Income AMD ETF","AMD":"美国超微公司","SSPC":"2倍做空SpaceX ETF-Leverage Shares","AMUU":"2倍做多AMD ETF-Direxion","AMDW":"Roundhill AMD WeeklyPay ETF","XE":"X-Energy","SPCU":"2倍做多SpaceX ETF-Defiance","SNK":"2倍做空SpaceX ETF-GraniteShares","AMDY":"AMD期权收益策略ETF-YieldMax","LLY":"礼来","LOFF":"2倍做多SpaceX ETF-Direxion","AMYY":"GraniteShares YieldBOOST AMD ETF","SPAL":"2倍做多Space X ETF-GraniteShares","LLYZ":"2倍做空LLY ETF-Defiance","LLII":"REX LLY Growth & Income ETF","SPCF":"2倍做多SpaceX ETF-ProShares","BABO":"BABA期权收益策略ETF-YieldMax","LLYX":"2倍做多LLY ETF-Defiance","BABU":"Direxion Daily BABA Bull 2X ETF","SPCG":"2倍做空SpaceX ETF-Tradr","DAMD":"2倍做空AMD ETF-Defiance","SPCH":"2倍做多SpaceX ETF-Leverage Shares","KTUP":"T-Rex 2X Long KTOS Daily Target ETF","BABW":"Roundhill BABA WeeklyPay ETF","AMDD":"1倍做空AMD ETF-Direxion","SPAX":"2倍做多SPACEX ETF-T-REX","ELIL":"2倍做多LLY ETF-Direxion","BABX":"2倍做多BABA ETF-GraniteShares","KBAB":"2倍做多BABA ETF-KraneShares","AMDG":"2倍做多AMD ETF- Leverage Shares","BBYY":"GraniteShares YieldBOOST BABA ETF","ELIS":"1倍做空LLY ETF-Direxion","KTOS":"克瑞拓斯安全防卫","AMDL":"2倍做多AMD ETF-GraniteShares","BABA":"阿里巴巴","BNTX":"BioNTech SE","SPCM":"2倍做多SpaceX ETF-Tradr","SPCX":"SPAC and New Issue ETF","SPCQ":"2倍做空SpaceX ETF-Defiance"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127705711","content_text":"木头姐继续加仓SpaceX,减持AMD,押注商业航天、淡化芯片配置由“木头姐”Cathie Wood掌舵的ARK Invest周二继续调整投资组合,重点加码商业航天领域,同时减持半导体股。加仓 SpaceXARK旗下ARK Innovation ETF买入44,196股SpaceX,按周二收盘价149.47美元计算,交易金额约660万美元。近期,市场对SpaceX的关注持续升温,焦点之一是公司IPO协议中的一项“30%规则”。根据协议,约9.12亿股(约占符合条件非关联股东持股的20%)将于8月5日(财报公布两个交易日后)解除限售;若SpaceX股价在财报公布前10个交易日中,有5个交易日收盘价高于175.50美元(较135美元IPO价格上涨30%),则8月7日还将额外解禁约4.56亿股(约占符合条件持股的10%)。这意味着,若股价持续走强,财报后进入市场流通的股份数量反而可能增加,从而加大潜在抛压。值得一提的是,ARK周一已大举买入91.7万股SpaceX。减持 美国超微公司与此同时,ARK旗下ARKK卖出8,667股Advanced Micro Devices,按收盘价516.11美元计算,套现金额约450万美元。AMD近期股价持续承压,市场情绪偏谨慎。不过,知名财经主持人Jim Cramer认为,此轮回调反而提供了买入机会,理由是AMD在CPU和GPU领域的需求依然稳健。市场目前聚焦AMD将于8月4日公布的业绩。华尔街预计,公司第二季度每股收益(EPS)为1.55美元,营收约112.8亿美元。目前分析师整体仍维持“买入”评级,高盛、富国银行及康托·菲茨杰拉德近期均上调目标价。不过,由于估值仍处于较高水平,AMD股价在市场避险情绪升温时仍可能面临较大波动。事实上,ARK周一也已卖出约860万美元的AMD股票。其他主要交易买入607,567股 X-Energy。买入67,187股 克瑞拓斯安全防卫。买入6,354股 礼来。卖出44,330股 BioNTech SE。卖出228股 阿里巴巴。","news_type":1,"symbols_score_info":{"SPAL":0.6,"SPCU":0.6,"AMDL":0.6,"AMDD":0.6,"AMDU":0.6,"DAMD":0.6,"AMDG":0.6,"SSPC":0.6,"BBYY":0.6,"SPCH":0.6,"XE":2,"SPCF":0.6,"AMDY":0.6,"SNK":0.6,"BNTX":2,"ELIS":0.6,"SPCM":0.6,"SPCQ":0.6,"SPAX":0.6,"KTUP":0.6,"LLYZ":0.6,"LLYX":0.6,"SPCX":2,"BABO":0.6,"BABU":0.6,"AMD":2,"AMUU":0.6,"LOFF":0.6,"LLII":0.6,"AMYY":0.6,"LLY":2,"BABX":0.6,"KTOS":2,"BABW":0.6,"SPCG":0.6,"BABA":2,"ELIL":0.6,"KBAB":0.6,"AMDW":0.6}},"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583323115319336,"gmtCreate":1783444288487,"gmtModify":1783444290671,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"好事情大行都藏着掖着,绝不会告诉你的...。","listText":"好事情大行都藏着掖着,绝不会告诉你的...。","text":"好事情大行都藏着掖着,绝不会告诉你的...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583323115319336","repostId":"2649936758","repostType":2,"repost":{"id":"2649936758","kind":"news","pubTimestamp":1783437960,"share":"https://www.laohu8.com/m/news/2649936758?lang=zh_CN&edition=full","pubTime":"2026-07-07 23:26","market":"sh","language":"zh","title":"多家大行发布SpaceX研报,集体看多:人类文明抱负的巅峰","url":"https://stock-news.laohu8.com/highlight/detail?id=2649936758","media":"环球市场播报","summary":"华尔街各大投行周二正式发布对 SpaceX 的个股研究覆盖报告,各家对这家航天企业的看多论调措辞极具文学色彩。 德意志银行分析师在周二研报中表示:SpaceX 代表着人类文明抱负的巅峰,这份理想往往以钢铁与烈焰为载体,改写历史走向。 本次发布研报的多数大型投行,均为 SpaceX6 月 12 日 IPO 承销商。 SpaceX 周一收盘价 160.42 美元,和上市首日收盘价基本持平;IPO 发行价 135 美元,总市值达 2.1 万亿美元。","content":"<html><body><div>\n<div><img src=\"http://n.sinaimg.cn/finance/transform/59/w550h309/20260707/e633-53940c723de5b0ae3634f103b465a6f9.png\"/><span></span></div>\n<p> 华尔街各大投行周二正式发布对 SpaceX 的个股研究覆盖报告,各家对这家<a href=\"https://laohu8.com/S/000901\">航天</a>企业的看多论调措辞极具文学色彩。</p>\n<p> <a href=\"https://laohu8.com/S/DB\">德意志银行</a>分析师在周二研报中表示:SpaceX 代表着<strong>人类文明抱负的巅峰</strong>,这份<span><a href=\"https://laohu8.com/S/LI\">理想</a></span><span></span>往往以钢铁与烈焰为载体,改写历史走向。</p>\n<p> <span>美国银行</span><span></span>分析师评价,这家星链(低轨高速宽带卫星)运营企业正在铺设通往星辰的超级高速通道。</p>\n<p> 雷蒙德・詹姆斯投行称,尚处于测试阶段的可复用火箭星舰,是我们这代具有里程碑意义的工业创新。</p>\n<p> 本次发布研报的多数大型投行,均为 SpaceX6 月 12 日 IPO 承销商。此前受承销静默期规则约束,其研究部门不得发布研报,避免人为推高股价。</p>\n<p> 本次 IPO 联席主承销商为<span><a href=\"https://laohu8.com/S/GS\">高盛</a></span><span></span>、<span><a href=\"https://laohu8.com/S/MS\">摩根士丹利</a></span><span></span>、美国银行、<span><a href=\"https://laohu8.com/S/JPM\">摩根大通</a></span><span></span>,另有十余家投行参与分销承销。</p>\n<p> 周二出炉的研报几乎全线看多,仅莫菲特内桑森投行一家看空,认为该股未来 12 个月股价将下行。</p>\n<p> SpaceX 周一收盘价 160.42 美元,和上市首日收盘价基本持平;IPO 发行价 135 美元,总市值达 2.1 万亿美元。</p>\n<p> <span>纳斯达克</span><span></span>实时报价:151.84 美元,下跌 8.58 美元,跌幅 5.35%。</p>\n<p> <strong>各家投行评级、目标价与核心观点</strong></p>\n<p> <strong>雷蒙德・詹姆斯</strong></p>\n<p> 评级:强力买入 1 级</p>\n<p> 目标价:800 美元 核心逻辑:我们的投资核心逻辑是,星舰将实现轨道运输工业化。太空发射将从定制化高端<a href=\"https://laohu8.com/S/00031\">航天</a>业务,转型成一套拥有民航式稳定发射频次、单位发射成本持续走低的规模化运输网络。</p>\n<p> <strong><a href=\"https://laohu8.com/S/0H7D.UK\">德意志银行</a></strong></p>\n<p> 评级:买入</p>\n<p> 目标价:255 美元 观点:稳定、高频、低成本火箭发射能力,是释放广阔太空经济的核心钥匙。猎鹰 9 号已经实现部分目标,去年完成 165 次入轨发射,承担全球超 90% 的轨道运载总质量。展望未来,星舰单次入轨运力可达 100 吨,是猎鹰 9 号的 5 倍;单位发射成本可降至每公斤数百美元甚至更低。</p>\n<p> <strong>高盛</strong></p>\n<p> 评级:买入</p>\n<p> 目标价:205 美元 观点:公司依托垂直整合、网络效应与规模效应搭建商业模式,凭借航天发射龙头地位与结构性优势,延伸发展配套协同业务。当前三大相互关联的核心业务板块:航天发射、卫星互联、人工智能。各板块内部坚持垂直整合,同时推动跨业务协同增效。</p>\n<p> <strong>摩根大通</strong></p>\n<p> 评级:增持</p>\n<p> 目标价:225 美元 观点:发射业务是公司核心壁垒与差异化优势。公司累计完成约 670 次轨道发射,发射成功率超 99%;2023 年至今,全球超 80% 的入轨运载量由 SpaceX 完成。星舰发射成本有望降至猎鹰 9 号的十分之一,运载能力提升约 4 倍,助力公司开拓全新市场。 卫星互联业务(星链)支撑当下营收,是全球最大低轨卫星<a href=\"https://laohu8.com/S/STZ\">星座</a>,在轨卫星超 9600 颗,活跃用户超 1200 万,业务覆盖 164 个国家。机构预测其宽带订阅用户将从 2025 年 900 万增长至 2030 年 9500 万以上。 人工智能是长期增长主线:公司规划到 2028 年底地面算力扩建至 8 吉瓦(提升 8 倍);2031 年前在轨算力规模冲击 75 吉瓦。</p>\n<p> <strong>坎托・菲茨杰拉德</strong></p>\n<p> 评级:增持</p>\n<p> 目标价:246 美元 观点:市场当下过度纠结短期估值倍数,却忽略核心逻辑:这家行星级基建企业并非在现有赛道内卷,而是重新定义全<a href=\"https://laohu8.com/S/300832\">新产业</a>的成本体系。短期来看,星上托管算力、星链宽带、发射服务能够提供稳定、盈利能力持续提升的收入底座,大幅降低投资风险。</p>\n<p> <strong>斯提福金融</strong></p>\n<p> 评级:买入</p>\n<p> 目标价:190 美元 观点:人工智能是决定股价弹性的核心变量;算力基础设施构成价值底限,自研智能技术打开上涨空间。AI 基础设施潜在市场规模达 2.4 万亿美元,目前 SpaceX 市场份额不足 2%。 公司地面数据中心扩张势头强劲,依托与安索普、<span><a href=\"https://laohu8.com/S/GOOG\">谷歌</a></span><span></span>的租赁订单,算力规模向 1.4 吉瓦推进。更大的机遇在于太空算力部署,公司目标每年向太空部署 100 吉瓦算力。</p>\n<p> <strong><span><a href=\"https://laohu8.com/S/WFC\">富国银行</a></span><span></span></strong></p>\n<p> 评级:增持</p>\n<p> 目标价:230 美元 观点:卫星互联板块(星链)仍是核心价值引擎,贡献 61% 总营收,2025 年息税折旧摊销前利润 72 亿美元。用户规模同比翻倍至 1030 万,凭借先发优势在个人与企业市场构筑深厚护城河。 伴随星舰商用落地,星链将迭代第三代卫星,业务迈入新阶段;单次发射下行带宽容量相较猎鹰 9 号提升 20 倍。</p>\n<p> <strong>莫菲特内桑森(唯一偏空机构)</strong></p>\n<p> 评级:中性</p>\n<p> 目标价:131 美元 观点:SpaceX 宣称近 30 万亿美元的整体潜在市场规模严重夸大;其设备无线互联业务的增长预测也缺乏支撑,该赛道大概率只是小众市场。 创始人马斯克提出 2029 年底实现每年发射 100 吉瓦太空算力,这一规模已经超过当前全球所有数据中心总算力,短短三年半内根本无法凑齐所需原材料。 当前约 2 万亿美元市值,没有任何可信财务模型能够支撑,我们的测算模型同样无法印证该估值。</p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读,尽在新浪财经APP</div>\n</div>\n<p>责任编辑:郭明煜 </p>\n</div></body></html>","source":"sina","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>多家大行发布SpaceX研报,集体看多:人类文明抱负的巅峰</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{ 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n多家大行发布SpaceX研报,集体看多:人类文明抱负的巅峰\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-07 23:26 北京时间 <a href=https://finance.sina.com.cn/stock/usstock/c/2026-07-07/doc-inifyzku8388539.shtml><strong>环球市场播报</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>华尔街各大投行周二正式发布对 SpaceX 的个股研究覆盖报告,各家对这家航天企业的看多论调措辞极具文学色彩。\n 德意志银行分析师在周二研报中表示:SpaceX 代表着人类文明抱负的巅峰,这份理想往往以钢铁与烈焰为载体,改写历史走向。\n 美国银行分析师评价,这家星链(低轨高速宽带卫星)运营企业正在铺设通往星辰的超级高速通道。\n 雷蒙德・詹姆斯投行称,尚处于测试阶段的可复用火箭星舰,是我们这代...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2026-07-07/doc-inifyzku8388539.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCU":"2倍做多SpaceX ETF-Defiance","SSPC":"2倍做空SpaceX ETF-Leverage Shares","SPCG":"2倍做空SpaceX ETF-Tradr","SNK":"2倍做空SpaceX ETF-GraniteShares","BK4089":"非传统电信运营商","SPCQ":"2倍做空SpaceX ETF-Defiance","SPCX":"SPAC and New Issue ETF","UFO":"Procure Space ETF","XOVR":"ERShares Private-Public Crossover ETF","SPCH":"2倍做多SpaceX ETF-Leverage Shares","BK4615":"SpaceX概念","SPAL":"2倍做多Space X ETF-GraniteShares","LOFF":"2倍做多SpaceX ETF-Direxion","SPCF":"2倍做多SpaceX ETF-ProShares","SPAX":"2倍做多SPACEX ETF-T-REX","DXYZ":"Destiny Tech100 Inc","SPCM":"2倍做多SpaceX ETF-Tradr"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2026-07-07/doc-inifyzku8388539.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2649936758","content_text":"华尔街各大投行周二正式发布对 SpaceX 的个股研究覆盖报告,各家对这家航天企业的看多论调措辞极具文学色彩。\n 德意志银行分析师在周二研报中表示:SpaceX 代表着人类文明抱负的巅峰,这份理想往往以钢铁与烈焰为载体,改写历史走向。\n 美国银行分析师评价,这家星链(低轨高速宽带卫星)运营企业正在铺设通往星辰的超级高速通道。\n 雷蒙德・詹姆斯投行称,尚处于测试阶段的可复用火箭星舰,是我们这代具有里程碑意义的工业创新。\n 本次发布研报的多数大型投行,均为 SpaceX6 月 12 日 IPO 承销商。此前受承销静默期规则约束,其研究部门不得发布研报,避免人为推高股价。\n 本次 IPO 联席主承销商为高盛、摩根士丹利、美国银行、摩根大通,另有十余家投行参与分销承销。\n 周二出炉的研报几乎全线看多,仅莫菲特内桑森投行一家看空,认为该股未来 12 个月股价将下行。\n SpaceX 周一收盘价 160.42 美元,和上市首日收盘价基本持平;IPO 发行价 135 美元,总市值达 2.1 万亿美元。\n 纳斯达克实时报价:151.84 美元,下跌 8.58 美元,跌幅 5.35%。\n 各家投行评级、目标价与核心观点\n 雷蒙德・詹姆斯\n 评级:强力买入 1 级\n 目标价:800 美元 核心逻辑:我们的投资核心逻辑是,星舰将实现轨道运输工业化。太空发射将从定制化高端航天业务,转型成一套拥有民航式稳定发射频次、单位发射成本持续走低的规模化运输网络。\n 德意志银行\n 评级:买入\n 目标价:255 美元 观点:稳定、高频、低成本火箭发射能力,是释放广阔太空经济的核心钥匙。猎鹰 9 号已经实现部分目标,去年完成 165 次入轨发射,承担全球超 90% 的轨道运载总质量。展望未来,星舰单次入轨运力可达 100 吨,是猎鹰 9 号的 5 倍;单位发射成本可降至每公斤数百美元甚至更低。\n 高盛\n 评级:买入\n 目标价:205 美元 观点:公司依托垂直整合、网络效应与规模效应搭建商业模式,凭借航天发射龙头地位与结构性优势,延伸发展配套协同业务。当前三大相互关联的核心业务板块:航天发射、卫星互联、人工智能。各板块内部坚持垂直整合,同时推动跨业务协同增效。\n 摩根大通\n 评级:增持\n 目标价:225 美元 观点:发射业务是公司核心壁垒与差异化优势。公司累计完成约 670 次轨道发射,发射成功率超 99%;2023 年至今,全球超 80% 的入轨运载量由 SpaceX 完成。星舰发射成本有望降至猎鹰 9 号的十分之一,运载能力提升约 4 倍,助力公司开拓全新市场。 卫星互联业务(星链)支撑当下营收,是全球最大低轨卫星星座,在轨卫星超 9600 颗,活跃用户超 1200 万,业务覆盖 164 个国家。机构预测其宽带订阅用户将从 2025 年 900 万增长至 2030 年 9500 万以上。 人工智能是长期增长主线:公司规划到 2028 年底地面算力扩建至 8 吉瓦(提升 8 倍);2031 年前在轨算力规模冲击 75 吉瓦。\n 坎托・菲茨杰拉德\n 评级:增持\n 目标价:246 美元 观点:市场当下过度纠结短期估值倍数,却忽略核心逻辑:这家行星级基建企业并非在现有赛道内卷,而是重新定义全新产业的成本体系。短期来看,星上托管算力、星链宽带、发射服务能够提供稳定、盈利能力持续提升的收入底座,大幅降低投资风险。\n 斯提福金融\n 评级:买入\n 目标价:190 美元 观点:人工智能是决定股价弹性的核心变量;算力基础设施构成价值底限,自研智能技术打开上涨空间。AI 基础设施潜在市场规模达 2.4 万亿美元,目前 SpaceX 市场份额不足 2%。 公司地面数据中心扩张势头强劲,依托与安索普、谷歌的租赁订单,算力规模向 1.4 吉瓦推进。更大的机遇在于太空算力部署,公司目标每年向太空部署 100 吉瓦算力。\n 富国银行\n 评级:增持\n 目标价:230 美元 观点:卫星互联板块(星链)仍是核心价值引擎,贡献 61% 总营收,2025 年息税折旧摊销前利润 72 亿美元。用户规模同比翻倍至 1030 万,凭借先发优势在个人与企业市场构筑深厚护城河。 伴随星舰商用落地,星链将迭代第三代卫星,业务迈入新阶段;单次发射下行带宽容量相较猎鹰 9 号提升 20 倍。\n 莫菲特内桑森(唯一偏空机构)\n 评级:中性\n 目标价:131 美元 观点:SpaceX 宣称近 30 万亿美元的整体潜在市场规模严重夸大;其设备无线互联业务的增长预测也缺乏支撑,该赛道大概率只是小众市场。 创始人马斯克提出 2029 年底实现每年发射 100 吉瓦太空算力,这一规模已经超过当前全球所有数据中心总算力,短短三年半内根本无法凑齐所需原材料。 当前约 2 万亿美元市值,没有任何可信财务模型能够支撑,我们的测算模型同样无法印证该估值。\n\n\n海量资讯、精准解读,尽在新浪财经APP\n\n责任编辑:郭明煜","news_type":1,"symbols_score_info":{"DXYZ":1.5,"SPCF":0.6,"SPCM":0.6,"SPCQ":0.6,"UFO":0.6,"SNK":1.5,"SSPC":0.6,"XOVR":1.5,"SPAL":1.5,"SPAX":0.6,"SPCU":1.5,"SPCX":1.5,"SPCH":0.6,"SPCG":0.6,"LOFF":0.6}},"isVote":1,"tweetType":1,"viewCount":367,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583322774221792,"gmtCreate":1783444222449,"gmtModify":1783444224423,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"必须的,并且还得继续往下,年内不会回头...。","listText":"必须的,并且还得继续往下,年内不会回头...。","text":"必须的,并且还得继续往下,年内不会回头...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583322774221792","repostId":"2649015939","repostType":2,"repost":{"id":"2649015939","kind":"news","pubTimestamp":1783441620,"share":"https://www.laohu8.com/m/news/2649015939?lang=zh_CN&edition=full","pubTime":"2026-07-08 00:27","market":"fut","language":"zh","title":"SpaceX股票几乎回到首日开盘价","url":"https://stock-news.laohu8.com/highlight/detail?id=2649015939","media":"环球市场播报","summary":"SpaceX股价今日下跌逾5%,至152美元以下,距离该火箭制造商在6月12日开始交易时的150美元价位已相去不远。 SpaceX于今日加入纳斯达克100指数;此前在市场预期推动下,该股上周上涨了近6%。 即使SpaceX股价跌破150美元,仍将比135美元的IPO发行价高出10%以上,但较其上市首秀后不久创下的逾200美元的峰值则下跌了四分之一以上。","content":"<html><body><div>\n<div><img src=\"http://n.sinaimg.cn/finance/transform/29/w474h355/20260708/1e51-d848611e2321334bc4ba67a91455734f.png\"/></div>\n<p> SpaceX股价今日下跌逾5%,至152美元以下,距离该火箭制造商在6月12日(即IPO当日)开始交易时的150美元价位已相去不远。</p>\n<p> SpaceX于今日加入<span>纳斯达克</span><span></span>100指数;此前在市场预期推动下,该股上周上涨了近6%。</p>\n<p> Infrastructure Capital Advisors首席执行官杰伊.哈特菲尔德(Jay Hatfield)表示:“对冲基金和短线交易员之前一直在炒作加入纳斯达克指数这一题材。此外,纳斯达克大盘走势也相当疲软,这无济于事。”</p>\n<p> 即使SpaceX股价跌破150美元,仍将比135美元的IPO发行价高出10%以上,但较其上市首秀后不久创下的逾200美元的峰值则下跌了四分之一以上。</p>\n<div>\n<div><img src=\"\"/></div>\n<div>海量资讯、精准解读,尽在新浪财经APP</div>\n</div>\n<p>责任编辑:李桐 </p>\n</div></body></html>","source":"sina","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>SpaceX股票几乎回到首日开盘价</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; 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class=\"title\">\nSpaceX股票几乎回到首日开盘价\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-08 00:27 北京时间 <a href=https://finance.sina.com.cn/stock/usstock/c/2026-07-08/doc-inifzfsu5073250.shtml><strong>环球市场播报</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SpaceX股价今日下跌逾5%,至152美元以下,距离该火箭制造商在6月12日(即IPO当日)开始交易时的150美元价位已相去不远。\n SpaceX于今日加入纳斯达克100指数;此前在市场预期推动下,该股上周上涨了近6%。\n Infrastructure Capital Advisors首席执行官杰伊.哈特菲尔德(Jay Hatfield)表示:“对冲基金和短线交易员之前一直在炒作加入纳斯达克...</p>\n\n<a href=\"https://finance.sina.com.cn/stock/usstock/c/2026-07-08/doc-inifzfsu5073250.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCG":"2倍做空SpaceX ETF-Tradr","SPCX":"SPAC and New Issue ETF","SPCM":"2倍做多SpaceX ETF-Tradr","SPCU":"2倍做多SpaceX ETF-Defiance","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCQ":"2倍做空SpaceX ETF-Defiance","XOVR":"ERShares Private-Public Crossover ETF","SPCH":"2倍做多SpaceX ETF-Leverage Shares","UFO":"Procure Space ETF","SPAL":"2倍做多Space X ETF-GraniteShares","SPCF":"2倍做多SpaceX ETF-ProShares","SPAX":"2倍做多SPACEX ETF-T-REX","SSPC":"2倍做空SpaceX ETF-Leverage Shares","BK4615":"SpaceX概念","DXYZ":"Destiny Tech100 Inc","LOFF":"2倍做多SpaceX ETF-Direxion","BK4089":"非传统电信运营商"},"source_url":"https://finance.sina.com.cn/stock/usstock/c/2026-07-08/doc-inifzfsu5073250.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/b0d1b7e8843deea78cc308b15114de44","article_id":"2649015939","content_text":"SpaceX股价今日下跌逾5%,至152美元以下,距离该火箭制造商在6月12日(即IPO当日)开始交易时的150美元价位已相去不远。\n SpaceX于今日加入纳斯达克100指数;此前在市场预期推动下,该股上周上涨了近6%。\n Infrastructure Capital Advisors首席执行官杰伊.哈特菲尔德(Jay Hatfield)表示:“对冲基金和短线交易员之前一直在炒作加入纳斯达克指数这一题材。此外,纳斯达克大盘走势也相当疲软,这无济于事。”\n 即使SpaceX股价跌破150美元,仍将比135美元的IPO发行价高出10%以上,但较其上市首秀后不久创下的逾200美元的峰值则下跌了四分之一以上。\n\n\n海量资讯、精准解读,尽在新浪财经APP\n\n责任编辑:李桐","news_type":1,"symbols_score_info":{"SPCQ":0.6,"SPCF":0.6,"SPAL":1.5,"SPCG":0.6,"XOVR":1.5,"SPCH":0.6,"SPAX":0.6,"SPCX":1.5,"UFO":0.6,"SSPC":0.6,"SPCM":0.6,"DXYZ":1.5,"LOFF":0.6,"SPCU":1.5,"SNK":1.5}},"isVote":1,"tweetType":1,"viewCount":261,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":583322481025472,"gmtCreate":1783444144536,"gmtModify":1783444146409,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"大摩喊话内藏私心。,有时也没有底线...。","listText":"大摩喊话内藏私心。,有时也没有底线...。","text":"大摩喊话内藏私心。,有时也没有底线...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/583322481025472","repostId":"2649988821","repostType":2,"repost":{"id":"2649988821","kind":"news","pubTimestamp":1783415713,"share":"https://www.laohu8.com/m/news/2649988821?lang=zh_CN&edition=full","pubTime":"2026-07-07 17:15","market":"us","language":"zh","title":"静默期结束!华尔街大行集体唱多SpaceX,大摩喊出300美元目标价","url":"https://stock-news.laohu8.com/highlight/detail?id=2649988821","media":"智通财经","summary":"随着IPO静默期结束,华尔街大行纷纷开始覆盖埃隆·马斯克的火箭和人工智能公司SpaceX,并达成了明确的共识:买入该股票。华尔街大行集体唱多,市场疑虑仍存。包括摩根士丹利、高盛和瑞银在内的至少六家华尔街机构首予SpaceX相当于 “买入” 的评级,看好其长期增长前景。该公司上市首秀取得巨大成功,但市场对其盈利水平、项目落地能力与估值仍存诸多疑虑。","content":"<html><head></head><body><p style=\"text-align: left;\">随着IPO静默期结束,华尔街大行纷纷开始覆盖埃隆·马斯克的火箭和人工智能公司SpaceX(SPCX.US),并达成了明确的共识:买入该股票。</p><p style=\"text-align: left;\"><strong>华尔街大行集体唱多,市场疑虑仍存</strong></p><p style=\"text-align: left;\">包括<a href=\"https://laohu8.com/S/MS\">摩根士丹利</a>、<a href=\"https://laohu8.com/S/GS\">高盛</a>和瑞银在内的至少六家华尔街机构首予SpaceX相当于 “买入” 的评级,看好其长期增长前景。该公司上市首秀取得巨大成功,但市场对其盈利水平、项目落地能力与估值仍存诸多疑虑。</p><p style=\"text-align: left;\">多家华尔街机构看多SpaceX</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0db9c4d06b1890ae9e057015137e8329\" data-align=\"center\" tg-width=\"200\" tg-height=\"120\"/><span></span></p><p style=\"text-align: left;\">分析师的评级至关重要,为投资者提供了估值分析框架,让市场不再仅将 SpaceX 视作由马斯克主导的高风险太空项目。本周,参与SpaceX 860亿美元IPO承销的投行静默期结束。此次IPO由高盛、摩根士丹利、美国银行、花旗集团和<a href=\"https://laohu8.com/S/JPM\">摩根大通</a>牵头,另有18家银行参与。</p><p style=\"text-align: left;\">高盛分析师埃里克·谢里丹首次对SpaceX进行评级,给予“买入”评级,并将目标价设定为205美元。报告称,SpaceX已做好充分准备,将其在太空、互联互通和人工智能领域的差异化优势扩大规模——“这些市场中的每一个都有可能在未来五年或更长时间内发展成为数万亿美元的机遇”。</p><p style=\"text-align: left;\">报告补充道:“总体而言,我们认为 SpaceX 是一家独特的公司,在其所有三个运营部门都拥有多元化的发展机遇。”</p><p style=\"text-align: left;\">摩根士丹利分析师亚当·乔纳斯等人在7月7日的报告中写道:“SpaceX能够大规模地将能源转化为智能,并可通过一系列面向消费者和企业的解决方案实现盈利,引领下一代人工智能……这是人类的终极前沿领域。”该行给出300美元目标价,属于华尔街最高目标价梯队;相较该股周一160.42美元的收盘价,潜在涨幅达87%。</p><p style=\"text-align: left;\">摩根士丹利团队还预计,SpaceX股价在悲观情景下为75美元,在乐观情景下为600美元。该行还预计SpaceX营收有望在2030年达到3190亿美元,2040年突破3.3万亿美元。</p><p style=\"text-align: left;\">相比之下,SpaceX 2025年的营收仅为187亿美元,而<a href=\"https://laohu8.com/S/MSFT\">微软</a>的营收达到2817亿美元,<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>的营收则接近7170亿美元。根据未参与此次IPO的机构分析师的早期估算,SpaceX 2026年营收约为360亿美元,且目前尚未实现盈利。</p><p style=\"text-align: left;\">当前财务数据与未来业绩预期之间的巨大鸿沟,引发分析师对SpaceX合理价值的争论。</p><p style=\"text-align: left;\">行业研究分析师乔治·弗格森及其团队在6月30日的研报中写道:“根据我们的模型,尽管未来五年营收和利润预计将大幅攀升,SpaceX的估值仍然偏高。即使到2030年销售额增长近9倍、EBITDA增长17倍,模型显示其估值仍将超过微软、<a href=\"https://laohu8.com/S/META\">Meta</a>(META.US)、<a href=\"https://laohu8.com/S/GOOG\">谷歌</a>(GOOGL.US)和亚马逊(AMZN.US)等盈利巨头2026年的估值水平。”</p><p style=\"text-align: left;\">CFRA分析师基思·斯奈德直言:“SpaceX是一家卓越的公司,但如果估值已过度计入未来成功,即便卓越的公司也可能成为缺乏吸引力的投资。”该分析师予SpaceX“卖出”评级,12个月目标价仅为115美元,低于135美元发行价。</p><p style=\"text-align: left;\"><strong>两大利好加持,期权交易员押注SpaceX股价上涨</strong></p><p style=\"text-align: left;\">SpaceX在完成史上最大IPO后,股价经历了“过山车”行情。SpaceX于6月12日登陆纳斯达克,上市首日上涨19%,上市三日股价累计暴涨49%,市值达到2.65万亿美元,超过亚马逊(AMZN.US)成为全球第五大上市公司。此后势头逆转。截至周一收盘,SpaceX收于160.42美元,市值约为2.1万亿美元。</p><p style=\"text-align: left;\">值得注意的是,分析师静默期结束恰逢SpaceX被纳入纳斯达克100指数。据报道,SpaceX将于7月7日(周二)美股开盘前正式纳入纳斯达克100指数,从6月12日登陆纳斯达克到纳入核心科技指数,仅15天,创下纳斯达克100指数创立以来最快纳入纪录。</p><p style=\"text-align: left;\">摩根大通测算显示,仅纳入纳斯达克100一项,将吸引约43亿美元被动资金强制买入SpaceX股票。如果计入同步纳入MSCI和富时罗素全球指数体系的效应,全球被动基金在15个交易日内强制买入SpaceX的总规模可达约350亿美元。</p><p style=\"text-align: left;\">据悉,7月10日到期的周度期权迎来大量多头建仓,其中行权价在180美元和190美元的看涨期权持仓量最为集中,分别达到24,117张和23,432张。这表明,在纳入纳指100、投行静默期解除两大利好加持下,交易员预期该股有望较上周四收盘价分别大涨11%和17%。相比之下,看跌对冲仓位十分冷清,显示出市场极为单边的乐观情绪。</p><p style=\"text-align: left;\">7月7日,美股盘前,截至发稿,SpaceX跌1.44%,报158.1美元。</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8d7b368f775162ed36a971c24fe57b25\" data-align=\"center\" tg-width=\"1880\" tg-height=\"1024\"/><span></span></p><p style=\"text-align: left;\"></p></body></html>","source":"stock_zhitongcaijing","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>静默期结束!华尔街大行集体唱多SpaceX,大摩喊出300美元目标价</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; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n静默期结束!华尔街大行集体唱多SpaceX,大摩喊出300美元目标价\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-07-07 17:15 北京时间 <a href=http://www.zhitongcaijing.com/content/detail/1464055.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>随着IPO静默期结束,华尔街大行纷纷开始覆盖埃隆·马斯克的火箭和人工智能公司SpaceX(SPCX.US),并达成了明确的共识:买入该股票。华尔街大行集体唱多,市场疑虑仍存包括摩根士丹利、高盛和瑞银在内的至少六家华尔街机构首予SpaceX相当于 “买入” 的评级,看好其长期增长前景。该公司上市首秀取得巨大成功,但市场对其盈利水平、项目落地能力与估值仍存诸多疑虑。多家华尔街机构看多SpaceX分析师...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1464055.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/f16a7a67d0d2e6f1e72c43b8fe10d226","relate_stocks":{"FAZ":"三倍做空金融ETF-Direxion","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCU":"2倍做多SpaceX ETF-Defiance","SPCX":"SPAC and New Issue ETF","UDN":"做空美元指数-PowerShares","XOVR":"ERShares Private-Public Crossover ETF","UUP":"美元ETF-PowerShares DB","SPAL":"2倍做多Space X ETF-GraniteShares"},"source_url":"http://www.zhitongcaijing.com/content/detail/1464055.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2649988821","content_text":"随着IPO静默期结束,华尔街大行纷纷开始覆盖埃隆·马斯克的火箭和人工智能公司SpaceX(SPCX.US),并达成了明确的共识:买入该股票。华尔街大行集体唱多,市场疑虑仍存包括摩根士丹利、高盛和瑞银在内的至少六家华尔街机构首予SpaceX相当于 “买入” 的评级,看好其长期增长前景。该公司上市首秀取得巨大成功,但市场对其盈利水平、项目落地能力与估值仍存诸多疑虑。多家华尔街机构看多SpaceX分析师的评级至关重要,为投资者提供了估值分析框架,让市场不再仅将 SpaceX 视作由马斯克主导的高风险太空项目。本周,参与SpaceX 860亿美元IPO承销的投行静默期结束。此次IPO由高盛、摩根士丹利、美国银行、花旗集团和摩根大通牵头,另有18家银行参与。高盛分析师埃里克·谢里丹首次对SpaceX进行评级,给予“买入”评级,并将目标价设定为205美元。报告称,SpaceX已做好充分准备,将其在太空、互联互通和人工智能领域的差异化优势扩大规模——“这些市场中的每一个都有可能在未来五年或更长时间内发展成为数万亿美元的机遇”。报告补充道:“总体而言,我们认为 SpaceX 是一家独特的公司,在其所有三个运营部门都拥有多元化的发展机遇。”摩根士丹利分析师亚当·乔纳斯等人在7月7日的报告中写道:“SpaceX能够大规模地将能源转化为智能,并可通过一系列面向消费者和企业的解决方案实现盈利,引领下一代人工智能……这是人类的终极前沿领域。”该行给出300美元目标价,属于华尔街最高目标价梯队;相较该股周一160.42美元的收盘价,潜在涨幅达87%。摩根士丹利团队还预计,SpaceX股价在悲观情景下为75美元,在乐观情景下为600美元。该行还预计SpaceX营收有望在2030年达到3190亿美元,2040年突破3.3万亿美元。相比之下,SpaceX 2025年的营收仅为187亿美元,而微软的营收达到2817亿美元,亚马逊的营收则接近7170亿美元。根据未参与此次IPO的机构分析师的早期估算,SpaceX 2026年营收约为360亿美元,且目前尚未实现盈利。当前财务数据与未来业绩预期之间的巨大鸿沟,引发分析师对SpaceX合理价值的争论。行业研究分析师乔治·弗格森及其团队在6月30日的研报中写道:“根据我们的模型,尽管未来五年营收和利润预计将大幅攀升,SpaceX的估值仍然偏高。即使到2030年销售额增长近9倍、EBITDA增长17倍,模型显示其估值仍将超过微软、Meta(META.US)、谷歌(GOOGL.US)和亚马逊(AMZN.US)等盈利巨头2026年的估值水平。”CFRA分析师基思·斯奈德直言:“SpaceX是一家卓越的公司,但如果估值已过度计入未来成功,即便卓越的公司也可能成为缺乏吸引力的投资。”该分析师予SpaceX“卖出”评级,12个月目标价仅为115美元,低于135美元发行价。两大利好加持,期权交易员押注SpaceX股价上涨SpaceX在完成史上最大IPO后,股价经历了“过山车”行情。SpaceX于6月12日登陆纳斯达克,上市首日上涨19%,上市三日股价累计暴涨49%,市值达到2.65万亿美元,超过亚马逊(AMZN.US)成为全球第五大上市公司。此后势头逆转。截至周一收盘,SpaceX收于160.42美元,市值约为2.1万亿美元。值得注意的是,分析师静默期结束恰逢SpaceX被纳入纳斯达克100指数。据报道,SpaceX将于7月7日(周二)美股开盘前正式纳入纳斯达克100指数,从6月12日登陆纳斯达克到纳入核心科技指数,仅15天,创下纳斯达克100指数创立以来最快纳入纪录。摩根大通测算显示,仅纳入纳斯达克100一项,将吸引约43亿美元被动资金强制买入SpaceX股票。如果计入同步纳入MSCI和富时罗素全球指数体系的效应,全球被动基金在15个交易日内强制买入SpaceX的总规模可达约350亿美元。据悉,7月10日到期的周度期权迎来大量多头建仓,其中行权价在180美元和190美元的看涨期权持仓量最为集中,分别达到24,117张和23,432张。这表明,在纳入纳指100、投行静默期解除两大利好加持下,交易员预期该股有望较上周四收盘价分别大涨11%和17%。相比之下,看跌对冲仓位十分冷清,显示出市场极为单边的乐观情绪。7月7日,美股盘前,截至发稿,SpaceX跌1.44%,报158.1美元。","news_type":1,"symbols_score_info":{"UDN":1.5,"SPCX":2.1,"SPCU":1.5,"SNK":1.5,"UUP":1.5,"XOVR":1.5,"SPAL":1.5,"FAZ":1.5}},"isVote":1,"tweetType":1,"viewCount":279,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":580600176579720,"gmtCreate":1782778248885,"gmtModify":1782778250943,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"好荒唐...。","listText":"好荒唐...。","text":"好荒唐...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/580600176579720","repostId":"2647300255","repostType":4,"repost":{"id":"2647300255","kind":"live","pubTimestamp":1782773825,"share":"https://www.laohu8.com/m/news/2647300255?lang=zh_CN&edition=full","pubTime":"2026-06-30 06:57","market":"us","language":"zh","title":"美国要求SpaceX将股票捐赠给“特朗普账户”","url":"https://stock-news.laohu8.com/highlight/detail?id=2647300255","media":"格隆汇","summary":"据Semafor,知情人士透露,.美国要求马斯克旗下太空探索公司SpaceX将向“特朗普账户”捐赠股票。尚不清楚马斯克是否已经同意与SpaceX和“特朗普账户”相关的问题。","content":"<html><head></head><body><p>据Semafor,知情人士透露,.美国要求马斯克旗下太空探索公司SpaceX将向“特朗普账户”捐赠股票。尚不清楚马斯克是否已经同意与SpaceX和“特朗普账户”相关的问题。</p></body></html>","source":"live_gelonghui","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>美国要求SpaceX将股票捐赠给“特朗普账户”</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n美国要求SpaceX将股票捐赠给“特朗普账户”\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-30 06:57 北京时间 <a href=https://www.gelonghui.com/rss/live/live.xml><strong>格隆汇</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>据Semafor,知情人士透露,.美国要求马斯克旗下太空探索公司SpaceX将向“特朗普账户”捐赠股票。尚不清楚马斯克是否已经同意与SpaceX和“特朗普账户”相关的问题。</p>\n\n<a href=\"https://www.gelonghui.com/rss/live/live.xml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://community-static.tradeup.com/news/815c5ffc472a769efdd087349e42cf45","relate_stocks":{"SPCG":"2倍做空SpaceX ETF-Tradr","SPCX":"SPAC and New Issue ETF","SPCU":"2倍做多SpaceX ETF-Defiance","BK4089":"非传统电信运营商","SNK":"2倍做空SpaceX ETF-GraniteShares","SPCQ":"2倍做空SpaceX ETF-Defiance","SPAL":"2倍做多Space X ETF-GraniteShares","SPCH":"2倍做多SpaceX ETF-Leverage Shares","XOVR":"ERShares Private-Public Crossover ETF","LOFF":"2倍做多SpaceX ETF-Direxion","SPAX":"2倍做多SPACEX ETF-T-REX","SSPC":"2倍做空SpaceX ETF-Leverage Shares","UFO":"Procure Space ETF","SPCF":"2倍做多SpaceX ETF-ProShares","BK4615":"SpaceX概念","SPCM":"2倍做多SpaceX ETF-Tradr"},"source_url":"https://www.gelonghui.com/rss/live/live.xml","is_english":false,"share_image_url":"https://static.laohu8.com/6b8fa6424aebe95f6781d04ef17a1852","article_id":"2647300255","content_text":"据Semafor,知情人士透露,.美国要求马斯克旗下太空探索公司SpaceX将向“特朗普账户”捐赠股票。尚不清楚马斯克是否已经同意与SpaceX和“特朗普账户”相关的问题。","news_type":1,"symbols_score_info":{"SNK":1.5,"SPCX":1.5,"LOFF":0.6,"SPAL":1.5,"SPCG":0.6,"SPCM":0.6,"SPCQ":0.6,"SPCH":0.6,"SPCU":1.5,"SSPC":0.6,"UFO":0.6,"SPCF":0.6,"XOVR":1.5,"SPAX":0.6}},"isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4100517425095450","authorId":"4100517425095450","name":"无情的交易机器","avatar":"https://static.tigerbbs.com/fe4c3469b049b5cd16092b7b85f2e3c2","crmLevel":7,"crmLevelSwitch":1,"authorIdStr":"4100517425095450","idStr":"4100517425095450"},"content":"这种新闻你也相信的话,认知很荒唐。","text":"这种新闻你也相信的话,认知很荒唐。","html":"这种新闻你也相信的话,认知很荒唐。"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":579403952629112,"gmtCreate":1782486208709,"gmtModify":1782486712923,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"你那个脑子里有什么自己还没搞明白,还要掺乎美股 ,太滑稽了!还是省省比较好。","listText":"你那个脑子里有什么自己还没搞明白,还要掺乎美股 ,太滑稽了!还是省省比较好。","text":"你那个脑子里有什么自己还没搞明白,还要掺乎美股 ,太滑稽了!还是省省比较好。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/579403952629112","repostId":"2646331113","repostType":2,"repost":{"id":"2646331113","kind":"highlight","pubTimestamp":1782456034,"share":"https://www.laohu8.com/m/news/2646331113?lang=zh_CN&edition=full","pubTime":"2026-06-26 14:40","market":"fut","language":"zh","title":"“不跌才怪,我早提醒风险了!”李大霄:225美元接盘SpaceX的那些人,真不知道什么时候能解套","url":"https://stock-news.laohu8.com/highlight/detail?id=2646331113","media":"金融界","summary":"鉴于SpaceX上市后市场表现,前券商首席经济学家李大霄今日在社交媒体发言吐槽称:有人指出 IPO 抽水的风险了吗?李大霄批评称,美股现在吸不来钱了,还在疯狂发IPO ,不跌才怪,“要用引资的速度来设计发 IPO 的速度,这个才对”。李大霄强调,其实早就向美股方面提醒风险,但是没有人重视,“因为我们这边是有扎扎实实的例子,亚洲最赚钱公司上市的时候,到现在还没解套”。“那我觉得225美元接盘的那些人,什么时候解套真的不知道。”","content":"<html><body><div>\n<p>鉴于SpaceX上市后市场表现,前券商首席经济学家李大霄今日在社交媒体发言吐槽称:有人指出 IPO 抽水的风险了吗?没有或者很少;有人提出来用法律限制美国太空探索公司的募资额了吗?没有或者很少;有人提出来每年规划融资额了吗?没有或者很少。</p><p>“我给美国同行提出一招,你要吸多少钱进来,我再发多少钱的 IPO,整个市场就不涨不跌。”李大霄批评称,美股现在吸不来钱了,还在疯狂发IPO ,不跌才怪,“要用引资的速度来设计发 IPO 的速度,这个才对”。</p><p>“募资750亿美元的根基在哪里?逻辑在哪里?完全没有。”李大霄指出,都是凭空想象一拍脑袋750亿,再一拍脑袋250亿,这样1000亿美元就被吸走了,只能从“七姐妹”里面抽,股市不跌才怪。</p><p>李大霄强调,其实早就向美股方面提醒风险,但是没有人重视,“因为我们这边是有扎扎实实的例子,亚洲最赚钱公司上市的时候,到现在还没解套”。“那我觉得225美元接盘的那些人,什么时候解套真的不知道。”李大霄预测。</p>\n<div>\n<p>美股频道更多独家策划、专家专栏,免费查阅>></p>\n<div>\r\n 责任编辑:山上\r\n </div>\n</div>\n</div></body></html>","source":"jinrongjie_highlight","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>“不跌才怪,我早提醒风险了!”李大霄:225美元接盘SpaceX的那些人,真不知道什么时候能解套</title>\n<style 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margin: 0;line-height: 11px;}\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\">\n“不跌才怪,我早提醒风险了!”李大霄:225美元接盘SpaceX的那些人,真不知道什么时候能解套\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-26 14:40 北京时间 <a href=https://usstock.jrj.com.cn/2026/06/26144057592316.shtml><strong>金融界</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>鉴于SpaceX上市后市场表现,前券商首席经济学家李大霄今日在社交媒体发言吐槽称:有人指出 IPO 抽水的风险了吗?没有或者很少;有人提出来用法律限制美国太空探索公司的募资额了吗?没有或者很少;有人提出来每年规划融资额了吗?没有或者很少。“我给美国同行提出一招,你要吸多少钱进来,我再发多少钱的 IPO,整个市场就不涨不跌。”李大霄批评称,美股现在吸不来钱了,还在疯狂发IPO ,不跌才怪,“要用引资...</p>\n\n<a href=\"https://usstock.jrj.com.cn/2026/06/26144057592316.shtml\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCU":"2倍做多SpaceX ETF-Defiance","UUP":"美元ETF-PowerShares DB","SPCX":"SPAC and New Issue ETF","UFO":"Procure Space ETF","SPCQ":"2倍做空SpaceX ETF-Defiance","UDN":"做空美元指数-PowerShares","SPCM":"2倍做多SpaceX ETF-Tradr","LOFF":"2倍做多SpaceX ETF-Direxion","BK4615":"SpaceX概念","XOVR":"ERShares Private-Public Crossover ETF","SPAX":"2倍做多SPACEX ETF-T-REX","BK4089":"非传统电信运营商","SPCH":"2倍做多SpaceX ETF-Leverage Shares","DXYZ":"Destiny Tech100 Inc","SPCG":"2倍做空SpaceX ETF-Tradr","SPCF":"2倍做多SpaceX ETF-ProShares","SSPC":"2倍做空SpaceX ETF-Leverage Shares","SPAL":"2倍做多Space X ETF-GraniteShares","SNK":"2倍做空SpaceX ETF-GraniteShares"},"source_url":"https://usstock.jrj.com.cn/2026/06/26144057592316.shtml","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2646331113","content_text":"鉴于SpaceX上市后市场表现,前券商首席经济学家李大霄今日在社交媒体发言吐槽称:有人指出 IPO 抽水的风险了吗?没有或者很少;有人提出来用法律限制美国太空探索公司的募资额了吗?没有或者很少;有人提出来每年规划融资额了吗?没有或者很少。“我给美国同行提出一招,你要吸多少钱进来,我再发多少钱的 IPO,整个市场就不涨不跌。”李大霄批评称,美股现在吸不来钱了,还在疯狂发IPO ,不跌才怪,“要用引资的速度来设计发 IPO 的速度,这个才对”。“募资750亿美元的根基在哪里?逻辑在哪里?完全没有。”李大霄指出,都是凭空想象一拍脑袋750亿,再一拍脑袋250亿,这样1000亿美元就被吸走了,只能从“七姐妹”里面抽,股市不跌才怪。李大霄强调,其实早就向美股方面提醒风险,但是没有人重视,“因为我们这边是有扎扎实实的例子,亚洲最赚钱公司上市的时候,到现在还没解套”。“那我觉得225美元接盘的那些人,什么时候解套真的不知道。”李大霄预测。\n\n美股频道更多独家策划、专家专栏,免费查阅>>\n\n 责任编辑:山上","news_type":1,"symbols_score_info":{"SPCU":1.5,"SPCQ":0.6,"SPCX":1.5,"LOFF":0.6,"UDN":1.5,"SPAX":0.6,"SPCF":0.6,"SPCM":0.6,"UFO":0.6,"SPCH":0.6,"DXYZ":1.5,"SSPC":0.6,"SPAL":1.5,"UUP":1.5,"XOVR":1.5,"SPCG":0.6,"SNK":1.5}},"isVote":1,"tweetType":1,"viewCount":1024,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":572435306840096,"gmtCreate":1780777014085,"gmtModify":1780795356838,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"快了。。。","listText":"快了。。。","text":"快了。。。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/572435306840096","repostId":"2641194596","repostType":2,"repost":{"id":"2641194596","kind":"news","pubTimestamp":1780626927,"share":"https://www.laohu8.com/m/news/2641194596?lang=zh_CN&edition=full","pubTime":"2026-06-05 10:35","market":"us","language":"zh","title":"国产车终结日系车28年霸主地位!中国成澳洲汽车最大进口国 比亚迪立大功","url":"https://stock-news.laohu8.com/highlight/detail?id=2641194596","media":"极客怪咖","summary":"快科技6月5日消息,澳大利亚官方6月4日发布的最新数据显示,4月中国乘用车进口到货量近3.6万辆,远超日本的2.9万辆,中国已正式超越日本成为澳大利亚第一大汽车进口来源国,终结了日本自1998年以来长达28年的霸主地位。今年1-4月,澳大利亚从中国进口整车总量突破10万辆,同比大增51%。同期从日本进口约9.45万辆,同比下降23%。中国品牌在澳洲电动车市场拿下约八成分额,比亚迪海狮07单月销量甚至超过了特斯拉Model Y。","content":"<html><body><p>快科技6月5日消息,澳大利亚官方6月4日发布的最新数据显示,<strong>4月中国乘用车进口到货量近3.6万辆,远超日本的2.9万辆,中国已正式超越日本成为澳大利亚第一大汽车进口来源国,终结了日本自1998年以来长达28年的霸主地位。</strong></p><p>今年1-4月,澳大利亚从中国进口整车总量突破10万辆,同比大增51%。同期从日本进口约9.45万辆,同比下降23%。一增一降之间,中国完成了对日本的历史性反超。</p><p>这场逆袭的转折点出现在今年2月。当月中国品牌在澳销量达22,362辆,同比增长45.1%,以691辆的微弱优势首次超越日本(21,671辆,同比下降20.4%)。<strong>此后中国品牌一路加速,到4月单月进口量已领先日本近7000辆,差距持续拉大。</strong></p><p>而<a href=\"https://laohu8.com/S/BYDDY\">比亚迪</a>是这场逆袭的头号功臣,4月<a href=\"https://laohu8.com/S/002594\">比亚迪</a>在澳销量达7,702辆,以8.3%的市场份额跃居全澳品牌销量第二,仅次于丰田(15,185辆),超越了<a href=\"https://laohu8.com/S/F\">福特</a>、马自达、起亚等传统强势品牌。</p><p>今年1-4月,<a href=\"https://laohu8.com/S/01211\">比亚迪</a>在澳销量同比增长约160%,是澳大利亚<a href=\"https://laohu8.com/S/01490\">车市</a>增幅最大的品牌。</p><p>除比亚迪外,中国品牌在澳集体攻城略地。1-4月销量增长最多的五大品牌均为中国品牌,依次为比亚迪、奇瑞、<a href=\"https://laohu8.com/S/00175\">吉利</a>、<a href=\"https://laohu8.com/S/002071\">长城</a>和Jaecoo。</p><p>奇瑞同比增长约99%,<a href=\"https://laohu8.com/S/603897\">长城</a>同比增长约27%,<a href=\"https://laohu8.com/S/ZK\">极氪</a>、MG等品牌也在快速扩张。<strong>4月中国品牌在澳总销量约2.7万辆,占当月新车市场近29%。</strong></p><p>而电动车需求是推动中国品牌崛起的核心因素,4月澳大利亚纯电动车销量达15,459辆,同比暴增157.2%,市占率创历史新高的16.4%。</p><p>中国品牌在澳洲电动车市场拿下约八成分额,比亚迪海狮07单月销量甚至超过了<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>Model Y。同时,插电式混合动力车型同样增长迅猛。</p><p>与之形成鲜明对比的是日系品牌的全面退潮。丰田4月销量同比下降21.6%,马自达跌至品牌榜第六,日产、三菱等品牌持续萎缩。<strong>燃油车4月销量同比下跌30%,日系品牌赖以生存的燃油基本盘正在被电动化浪潮加速侵蚀。</strong></p><p>去年全年日本仍是澳大利亚最大汽车进口来源国(35.89万辆),中国位居第二(25.27万辆)。但进入2026年,中国品牌仅用4个月就完成了反超,按照当前增速,全年中国取代日本已无悬念。</p><p><img src=\"https://x0.ifengimg.com/res/2026/E7B13DDB28AEB470A8209C2C2D27B349D67863A2_size238_w600_h334.png\"/></p></body></html>","source":"fenghuang_stock","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>国产车终结日系车28年霸主地位!中国成澳洲汽车最大进口国 比亚迪立大功</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{ 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n国产车终结日系车28年霸主地位!中国成澳洲汽车最大进口国 比亚迪立大功\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-06-05 10:35 北京时间 <a href=https://tech.ifeng.com/c/8thlwm2xAv1><strong>极客怪咖</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>快科技6月5日消息,澳大利亚官方6月4日发布的最新数据显示,4月中国乘用车进口到货量近3.6万辆,远超日本的2.9万辆,中国已正式超越日本成为澳大利亚第一大汽车进口来源国,终结了日本自1998年以来长达28年的霸主地位。今年1-4月,澳大利亚从中国进口整车总量突破10万辆,同比大增51%。同期从日本进口约9.45万辆,同比下降23%。一增一降之间,中国完成了对日本的历史性反超。这场逆袭的转折点出现...</p>\n\n<a href=\"https://tech.ifeng.com/c/8thlwm2xAv1\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"81211":"比亚迪股份-R","82333":"长城汽车-R","601633":"长城汽车","LU0143863198.USD":"CT (LUX) I GLOBAL EMERGING MARKET EQUITIES\"AU\" (USD) ACC","LU1880383366.USD":"东方汇理中国股票基金 A2 (C)","LU0588545904.SGD":"Eastspring Investments - Asian Equity Income ASDM SGD","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) 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SGD"},"source_url":"https://tech.ifeng.com/c/8thlwm2xAv1","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2641194596","content_text":"快科技6月5日消息,澳大利亚官方6月4日发布的最新数据显示,4月中国乘用车进口到货量近3.6万辆,远超日本的2.9万辆,中国已正式超越日本成为澳大利亚第一大汽车进口来源国,终结了日本自1998年以来长达28年的霸主地位。今年1-4月,澳大利亚从中国进口整车总量突破10万辆,同比大增51%。同期从日本进口约9.45万辆,同比下降23%。一增一降之间,中国完成了对日本的历史性反超。这场逆袭的转折点出现在今年2月。当月中国品牌在澳销量达22,362辆,同比增长45.1%,以691辆的微弱优势首次超越日本(21,671辆,同比下降20.4%)。此后中国品牌一路加速,到4月单月进口量已领先日本近7000辆,差距持续拉大。而比亚迪是这场逆袭的头号功臣,4月比亚迪在澳销量达7,702辆,以8.3%的市场份额跃居全澳品牌销量第二,仅次于丰田(15,185辆),超越了福特、马自达、起亚等传统强势品牌。今年1-4月,比亚迪在澳销量同比增长约160%,是澳大利亚车市增幅最大的品牌。除比亚迪外,中国品牌在澳集体攻城略地。1-4月销量增长最多的五大品牌均为中国品牌,依次为比亚迪、奇瑞、吉利、长城和Jaecoo。奇瑞同比增长约99%,长城同比增长约27%,极氪、MG等品牌也在快速扩张。4月中国品牌在澳总销量约2.7万辆,占当月新车市场近29%。而电动车需求是推动中国品牌崛起的核心因素,4月澳大利亚纯电动车销量达15,459辆,同比暴增157.2%,市占率创历史新高的16.4%。中国品牌在澳洲电动车市场拿下约八成分额,比亚迪海狮07单月销量甚至超过了特斯拉Model Y。同时,插电式混合动力车型同样增长迅猛。与之形成鲜明对比的是日系品牌的全面退潮。丰田4月销量同比下降21.6%,马自达跌至品牌榜第六,日产、三菱等品牌持续萎缩。燃油车4月销量同比下跌30%,日系品牌赖以生存的燃油基本盘正在被电动化浪潮加速侵蚀。去年全年日本仍是澳大利亚最大汽车进口来源国(35.89万辆),中国位居第二(25.27万辆)。但进入2026年,中国品牌仅用4个月就完成了反超,按照当前增速,全年中国取代日本已无悬念。","news_type":1,"symbols_score_info":{"81211":0.6,"82333":0.6,"601633":1.85,"TEST":0.6,"02333":1.85,"TSDD":0.6,"TSLI":0.6,"TSLP":0.6,"BYDDY":1.96,"TSLG":0.6,"TSLR":0.6,"TSYY":0.6,"TSII":0.6,"TSLA":1.84,"09366":0.6,"01211":1.96,"TSLW":0.6,"TLA":0.6,"TSLO":0.6,"TSLT":0.6,"TSLL":0.6,"09766":0.6,"TSLY":0.6,"CRSH":0.6,"TESL":0.6,"TSLS":0.6,"HYDD.SI":0.6,"GWLLY":1.85,"07766":0.6,"TSLQ":0.6,"TSLZ":0.6,"07366":0.6,"TSL":0.6,"002594":1.96}},"isVote":1,"tweetType":1,"viewCount":688,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":569410240225360,"gmtCreate":1780020447168,"gmtModify":1780020981004,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"出货行情...。","listText":"出货行情...。","text":"出货行情...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/569410240225360","repostId":"1158205815","repostType":4,"repost":{"id":"1158205815","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1780019768,"share":"https://www.laohu8.com/m/news/1158205815?lang=zh_CN&edition=full","pubTime":"2026-05-29 09:56","market":"hk","language":"zh","title":"港股异动|内房股拉升,碧桂园暴涨36%,融创中国涨21%,万科企业涨超15%","url":"https://stock-news.laohu8.com/highlight/detail?id=1158205815","media":"老虎资讯综合","summary":"世茂集团涨超14%。","content":"<html><head></head><body><p>周五,港股内房股集体拉升。 <a href=\"https://laohu8.com/S/02007\">碧桂园</a> 盘中暴涨36%, <a href=\"https://laohu8.com/S/01918\">融创中国</a> 涨21%, <a href=\"https://laohu8.com/S/02202\">万科企业</a> 涨超15%, <a href=\"https://laohu8.com/S/00813\">世茂集团</a> 涨超14%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bff4e52b569220fff35ec639d0d6eee\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00a7329d05e3496e90f379d4c87e1834\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p></p></body></html>","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>港股异动|内房股拉升,碧桂园暴涨36%,融创中国涨21%,万科企业涨超15%</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; 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style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-05-29 09:56</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>周五,港股内房股集体拉升。 <a href=\"https://laohu8.com/S/02007\">碧桂园</a> 盘中暴涨36%, <a href=\"https://laohu8.com/S/01918\">融创中国</a> 涨21%, <a href=\"https://laohu8.com/S/02202\">万科企业</a> 涨超15%, <a href=\"https://laohu8.com/S/00813\">世茂集团</a> 涨超14%。</p><p></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1bff4e52b569220fff35ec639d0d6eee\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00a7329d05e3496e90f379d4c87e1834\" tg-width=\"560\" tg-height=\"240\" data-image-type=\"kline\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/7ae0555dd414b3f7de4af00b547725e6","relate_stocks":{"02007":"碧桂园","02202":"万科企业","00813":"世茂集团","01918":"融创中国"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158205815","content_text":"周五,港股内房股集体拉升。 碧桂园 盘中暴涨36%, 融创中国 涨21%, 万科企业 涨超15%, 世茂集团 涨超14%。","news_type":1,"symbols_score_info":{"00813":2,"02202":2,"01918":2,"02007":2}},"isVote":1,"tweetType":1,"viewCount":543,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":562925052015192,"gmtCreate":1778461426873,"gmtModify":1778461429282,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"从技术走势看,下降走势还未到达底部区域,抄了一个“大腿”...。","listText":"从技术走势看,下降走势还未到达底部区域,抄了一个“大腿”...。","text":"从技术走势看,下降走势还未到达底部区域,抄了一个“大腿”...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/562925052015192","repostId":"1152980153","repostType":2,"repost":{"id":"1152980153","kind":"news","pubTimestamp":1778458454,"share":"https://www.laohu8.com/m/news/1152980153?lang=zh_CN&edition=full","pubTime":"2026-05-11 08:14","market":"us","language":"zh","title":"神话与隐忧,泡泡玛特值得段永平“抄底”吗?","url":"https://stock-news.laohu8.com/highlight/detail?id=1152980153","media":"中国企业家杂志","summary":"3月25日,泡泡玛特交出2025年成绩单:营收371.2亿元,同比增长184.7%;经调整净利润130.8亿元,增长284.5%;毛利率72.1%。就在市场担忧泡泡玛特的增长神话即将落幕之际,剧情发生戏剧性反转。5月7日,段永平宣布清仓$中国神华$,全额换仓买入泡泡玛特。市场的恐慌与段永平逆势出手形成张力对照,也让泡泡玛特的长期价值更值得被深度拆解。从财报来看,泡泡玛特的利润表依然光芒万丈,但增长质量已出现边际变化。","content":"<html><head></head><body><blockquote><p><a href=\"https://laohu8.com/S/09992\">泡泡玛特</a>是能持续造血的IP平台,还是恰好撞上风口的爆款制造商?</p></blockquote><p>一只毛绒精灵,两种极端叙事。</p><p>4月30日晚10点,泡泡玛特首款冰箱产品在<a href=\"https://laohu8.com/S/JD\">京东</a>和天猫同步开售。THE MONSTERS生活家系列冷藏箱,两个版本各限量999台,均定价5999元。截至开售,京东平台预约人数超6万,开售即罄。</p><p>二手市场瞬时沸腾。有媒体报道,得物平台成交价一度冲至20999元。还有购入者直言,冰箱不会插电,就摆在家里的玩具柜旁边。</p><p>6天后的5月6日,泡泡玛特创始人、CEO王宁现身一档播客节目,称内部从去年LABUBU火爆时期,就在“理性灭火”。他透露,公司为了防止流量透支,暂停了LABUBU的新品发布、线下营销和多类开店、授权的合作,很多原定2025年推出的产品被推到了2026年。</p><p>一脚刹车下去,踩出两种现实。</p><p>3月25日,泡泡玛特交出2025年成绩单:营收371.2亿元,同比增长184.7%;经调整净利润130.8亿元,增长284.5%;毛利率72.1%。财报发布当日股价暴跌22.5%,第二天继续下跌10.46%,两个交易日累计跌幅超30%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9bab8a82a6369dda8750ce599e83d36\" alt=\"\" title=\"\" tg-width=\"1080\" tg-height=\"647\"/></p><p>摄影:吴莹</p><p><strong>截至5月8日收盘,泡泡玛特报收168.10港元。虽近期走势有所修复,但股价较去年8月339.80港元的历史高点,已跌去一半,对应市值蒸发超过2000亿港元。</strong></p><p>就在市场担忧泡泡玛特的增长神话即将落幕之际,剧情发生戏剧性反转。以价值投资著称的段永平,从3月起,便在“雪球”上力挺泡泡玛特,宣称自己是王宁的粉丝。5月7日,段永平宣布清仓<a href=\"https://laohu8.com/S/01088\">中国神华</a>,全额换仓买入泡泡玛特。</p><p>市场的恐慌与段永平逆势出手形成张力对照,也让泡泡玛特的长期价值更值得被深度拆解。</p><p><strong>过去一年,泡泡玛特几乎踩中了所有风口。</strong>LABUBU进化为全球现象级消费符号,THE MONSTERS系列年营收冲过140亿元,直接拉动公司毛利率突破72%。海外门店一年净增100家,美洲市场收入同比增长748%,TikTok渠道登顶美国销售榜。员工规模破万,公司市值高点突破4200亿港元。</p><p><strong>但高速运转的机器内部,压力同步累积。</strong>泡泡玛特库存从15亿元膨胀至54亿元,现金转换周期拉长了近一个月,利润向现金流的转化效率出现下滑。当增速从三位数回落到财报会上王宁口中的“不低于20%”,市场对这家公司的定价逻辑亦被重置。</p><p>当一台跑车从全速冲刺切到巡航模式,发动机每个异响都会被放大。王宁挥刀向内,与热潮相向而行。他给2025年的公司业绩打90到95分,给组织管理只打了70分。过去一年的业绩增长被他比作“新手开F1”,“只有别人认为你很爽,实际上自己压力很大”,2026年则是“进站维修年”。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e3eddb9f914cee69b00ee8d5ce4eff0e\" alt=\"\" title=\"\" tg-width=\"1080\" tg-height=\"771\"/></p><p>王宁 来源:受访者</p><p><strong>要支撑百亿级营收的高增长,就必须扩大产能、提高铺货密度。但大规模量产会持续侵蚀IP稀缺性,蚕食消费者的收藏信心,最终反噬毛利率与品牌调性。这是泡泡玛特的增长悖论。这期间,王宁还要面临一个更本质的问题:一个组织,如何与高速增长形成的扩张惯性对抗?</strong></p><p><strong>泡泡玛特到底是一家能持续造血、穿越周期的IP平台,还是一家恰好撞上风口、终将回归平庸的爆款制造商?从财务角度看,真相介于两者之间。泡泡玛特确实在向平台化进化,但LABUBU占比不降反升的趋势也表明,这种平台化能力尚未完全成熟。</strong></p><p>本文将基于财务视角,从估值逻辑、增长结构、商业模式三个维度,拆解这场价值重估的成因和边界。</p><h2 id=\"id_3603441852\">市场慌了:一个满分答卷,三个不安信号</h2><p>资本市场交易的从来不是过去,是对未来的出价。泡泡玛特3月25日的财报,释放了三个让投资者迅速行动的信号。</p><p><strong>第一个信号,是增速指引的落差。</strong></p><p>2025年营收增速184.7%,王宁在财报会上给出的2026年增长目标是“不低于20%”。从三位数骤降到20%区间,这个落差直接击穿了泡泡玛特作为成长股的估值基础。</p><p>在现金流折现模型的框架下,当市场将高速增长期假设从5年压缩为3~5年、将永续增长率从5%至8%调降至3%至5%,企业估值会发生系统性下移。<strong>以泡泡玛特为例,按狂热期参数估算的估值量级可以高达3.8万亿港元,切换至理性假设后降至约2200亿港元。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0adea900b917ed8116ba774c6a7caa1d\" alt=\"\" title=\"\" tg-width=\"1080\" tg-height=\"380\"/></p><p><strong>第二个信号,是371亿元还“差了一口气”。</strong></p><p>2025年泡泡玛特371.2亿元的实际营收,比市场普遍预期的379.6亿元少了约8亿元。放在平时,这点差距无人在意。但在市场情绪紧绷的节点上,业绩和指引双双不及预期,直接动摇了投资者对盈利能见度的信心。</p><p><strong>第三个信号,是机构在有序撤离。</strong></p><p>财报发布当日,卖空成交额高达46.3亿港元,创上市以来新高。花旗银行、<a href=\"https://laohu8.com/S/01788\">国泰君安国际</a>等外资席位是主要的净卖出方,南向资金却反向持续净买入。多空双方的激烈分歧,说明一个问题:<strong>泡泡玛特正站在估值范式切换的十字路口,有人看到泡沫破裂,有人看到错杀机会。</strong></p><p><strong>整体来看,通过DCF(现金流折现)模型重估企业价值,此次股价回调更像一次迟到的估值与基本面的重新匹配。</strong></p><p>回顾2025年,泡泡玛特股价从年初的约90港元,最高飙升至339.80港元,最高涨幅超350%。这一涨势背后,是市场对其“IP神话”“全球化突破”“品类升级”的过度乐观预期,推动估值脱离基本面形成溢价。如今的回调,也是市场从狂热期假设向理性调整后,假设切换的必然结果。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/838be0ce0f328266f90b27e7342aff0c\" alt=\"\" title=\"\" tg-width=\"804\" tg-height=\"589\"/></p><h2 id=\"id_4255670004\">增长模式“变重”:钱去哪儿了?</h2><p>如果增速指引是导火索,资产负债表和现金流量表细节才是炸药。从财报来看,泡泡玛特的利润表依然光芒万丈,但增长质量已出现边际变化。</p><p>存货的膨胀速度最为直观。<strong>2025年末存货54.73亿元,较上年同期的15.25亿元增长258.9%,远超184.7%的营收增速。存货周转天数从100.98天拉长到121.63天,周转率从3.56次降到2.96次。货品生产出来的速度,已经快过卖出去的速度。</strong></p><p>泡泡玛特库存已处于高位,一旦核心IP热度回落,库存压力可能从增长推力,转为去化压力乃至减值风险。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ca74c2448a5791c66122ab3bc9b48b3d\" alt=\"\" title=\"\" tg-width=\"1080\" tg-height=\"684\"/></p><p>更值得关注的,是<strong>利润向现金流的转化效率。2025年净利润127.76亿元,同比增长308.8%。但经营活动现金流净额只有108.65亿元,增速119.3%,明显落后于利润增速。</strong>经营现金流与净利润的比值,从2024年的1.59倍降至0.85倍。每赚1元账面利润,实际回笼现金从1.59元缩水到0.85元。</p><p>钱去哪了?</p><p><strong>泡泡玛特的营运资本变动从正2.46亿元转为负35.50亿元,大量现金被锁定在库存和经营性项目里。</strong>现金转换周期也拉长了。应收账款周转天数从11.03天降到6.78天,回款效率实际上在改善。但应付账款周转天数从60.49天降到49.86天,意味着公司对上游供应商付款加快,没有用延长账期缓冲现金压力。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/50f0b87e36da4e3a3dee8261a38a9424\" alt=\"\" title=\"\" tg-width=\"1080\" tg-height=\"754\"/></p><p>这一变化至少说明,在业务快速扩张阶段,公司未能有效借助供应链信用对冲营运资本占用,对自有资金的依赖反而有所增强。</p><p>综合下来,公司的现金转换周期从51.52天拉长到了78.55天。<strong>对一家处于高增长阶段,且估值高度依赖未来扩张预期的消费公司而言,现金转换周期拉长往往比单纯的利润波动更值得警惕。因为这意味着未来每新增一单位收入,需要占用更多资金去支撑。</strong></p><p>对于高估值成长股而言,市场最敏感的往往不是利润绝对值,而是利润的兑现质量。利润增长当然会提升估值想象力,但如果现金流跟不上、营运资本持续吞噬现金,那么市场就会开始质疑这种增长究竟能维持多久,又需要付出多大代价。</p><p>泡泡玛特2025年财报揭示出增长模式的切换。利润表依然强劲,但资产负债表与现金流量表的压力同步上升。此前市场将其视为高毛利、高周转、高弹性的IP消费公司,随着库存、营运资本和现金转换周期同步承压,市场已转向以“重营运约束”视角审视其增长路径。</p><p>综合来看,库存增速超过收入增速,存货周转放缓,营运资本大量消耗现金,现金转换周期延长,经营现金流增速明显落后于净利润增速……这些指标尚未构成财务风险,公司流动比率和速动比率仍处于安全区间,但意味着增长模式在发生变化,泡泡玛特正从“轻盈爆发”转入“负重前行”。</p><p>特别是当管理层对增速预期也回归到20%区间,市场估值的锚点就会从利润增速,转向资产周转效率和现金流兑现质量。</p><h2 id=\"id_1515197127\">等待下一个LABUBU:一个爆款撑起的增长,能走多远?</h2><p>泡泡玛特以IP为核心,围绕全球艺术家挖掘、IP孵化运营、消费者触达、潮玩文化推广、关联产业投资整合五个领域,构建了覆盖潮流玩具全产业链的综合运营平台。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb4b631ab7363ffe7504d7a283a493a6\" tg-width=\"804\" tg-height=\"391\"/></p><p>数据来源:公司招股书、业务数据等公开渠道整理</p><p>市场对泡泡玛特的定价分歧,本质上是两种商业认知的角力。</p><p>看多者在绘制一张IP平台公司的蓝图,认为其已构建起具有高黏性的用户资产与多元IP<a href=\"https://laohu8.com/S/301365\">矩阵</a>。而看空者则在复盘一部爆款周期股的剧本,认为潮玩消费热度易逝,难以穿越周期。</p><p>泡泡玛特的中国内地累计注册会员总数,从2021年末的1958万跃升至2025年末的7258万,5年间增长超过270%。公司的核心销售几乎全部来源于其会员体系,会员贡献销售占比始终保持在90%以上,2025年更是高达93.7%。</p><p><strong>复购率虽然有所波动,但在2025年显著回升至55.7%,显示出泡泡玛特的高度会员黏性和忠诚度。这意味着,泡泡玛特卖的不再是单纯的玩具,而是一张通往年轻世代情感消费的门票。泡泡玛特确实在向平台化进化,但LABUBU占比不降反升的趋势也表明,这种平台化能力尚未完全成熟。</strong></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e5e934c680aba089beb8ccce050664d0\" tg-width=\"804\" tg-height=\"364\"/></p><p>具体来看:</p><p><strong>1.LABUBU:半壁江山与偶然性难题</strong></p><p>THE MONSTERS系列2025年营收141.61亿元,同比增长365.72%,泡泡玛特第一个百亿级IP就此诞生,它的营收增量贡献占公司全年增量近一半。毛绒产品定价高于传统盲盒,叠加海外商品的更高溢价,直接拉高公司整体毛利率至72.10%。</p><p>但爆款的偶然性摆在那里。王宁多次公开表达,LABUBU的全球爆红始于意外明星效应,“意外爆款”难以标准化复制。资本市场始终在审慎怀疑:泡泡玛特能不能持续孵化出下一个同等体量的IP?随着THE MONSTERS 4.0系列发售和供给量放大,部分普通款在二级市场已跌破官方售价,IP的金融炒作属性正在弱化。</p><p>今年5月,王宁接受专访时透露,公司在LABUBU热度最高时主动暂停新品发布、线下营销和多类对外合作,“让它自然降温反而能延长生命周期”。这说明,管理层已意识到超级IP热度的脆弱性,选择主动控速。</p><p><strong>2.IP矩阵:一超多强与结构性断层</strong></p><p>从表面看,泡泡玛特已构建起庞大的IP矩阵。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/10f5488259de8a994409607d65164d75\" tg-width=\"1080\" tg-height=\"643\"/></p><p>2025年,公司17个IP收入过亿,SKULLPANDA(35.40亿元)、CRYBABY(29.29亿元)、MOLLY(28.97亿元)、DIMOO(27.77亿元)、<a href=\"https://laohu8.com/S/300256\">星星</a>人(20.56亿元)等6个IP进入20亿俱乐部。</p><p>但拆开看,第二梯队离领头羊差得还是太远。SKULLPANDA与LABUBU的营收差距高达106亿元,几乎是一个中型IP的全年体量。一旦LABUBU增速放缓,其他IP难以平滑公司整体增长曲线。</p><p><strong>新老IP的增速分化也让人警醒。2024年签约的星星人,2025年营收暴增1601.81%至20.56亿元,展现了泡泡玛特的IP孵化潜能。但经典IP MOLLY同期增速只有38.41%,显著低于公司整体水平。</strong></p><p>成熟IP消费群体趋于稳定,新鲜感驱动的增量动能正在衰减。单纯靠形象迭代,能不能维持长期高增长?这是泡泡玛特绕不开的问题。</p><p>MOLLY的“先例”可资借鉴。2017年,MOLLY一度占泡泡玛特自有品牌收入89.4%,撑起公司近乎全部增长。随后热度回落,收入占比在2018年降至62.9%,2019年进一步降到32.9%。</p><p>2021年高点后,泡泡玛特股价从70多港元一度跌到不足10港元。当前LABUBU的收入占比已近40%,成为新的超级顶流,是否可能会重蹈MOLLY覆辙?一旦其热度褪去,公司能否快速找到下一个接替者?</p><p><strong>3.海外市场:高基数上的增速换挡</strong></p><p>海外是2025年泡泡玛特业绩的重要引擎:海外收入162.68亿元,同比增长291.89%,营收占比从31.80%升至43.80%。美洲市场收入68.06亿元,增长748.40%;欧洲市场收入14.51亿元,增长506.30%。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1af4856e1ccecf2197e87fb026472517\" tg-width=\"1080\" tg-height=\"580\"/></p><p>但高基数压力已在2026年第一季度兑现。彭博社援引Bloomberg Second Measure信用卡交易数据,泡泡玛特美国市场1月同比增长130%,2月降至41%,3月同比转负,下降45%。分析师指出,新品集中在1至2月上线,动能快速衰减,消费者对非LABUBU IP产品的接受度仍有限。</p><p>高速增长背后,增速边际放缓的隐忧已经显现,尤其是运营复杂性持续提升,海外市场的快速拓店,对供应链响应速度、本地化营销能力、国际化人才储备提出了更高要求。粗放式扩张之后,运营效率的提升将成为泡泡玛特海外业务持续增长的关键。</p><p>管理层已着手调整北美策略。据中银国际4月专家访谈纪要,北美团队2025年侧重铺货与开店,产品供给与本地消费偏好存在错配。修复方向包括:签约北美本地艺术家开发产品、提升墨西哥工厂产能覆盖约85%的北美供应、从线上渠道转向旗舰店大店体验驱动品牌认知。</p><h2 id=\"id_580860999\">增长与稀缺的悖论:IP能火多久?</h2><p>泡泡玛特长期维持的超高毛利率,根源在于情感溢价,而情感溢价的核心支撑是稀缺性。这种稀缺性带来的收藏属性,更接近经济学中的“凡勃伦”商品,稀缺性越强、溢价越高,吸引力反而越大。</p><p>回顾近5年业绩,泡泡玛特毛利率从2021年的61.4%攀升至2025年的72.1%,靠的就是头部IP爆款效应和稀缺机制——但商业扩张要求持续扩产放量。</p><p>2025年LABUBU月产能提升至5000万件,大规模铺货直接导致二级市场溢价收窄。早期MOLLY隐藏款溢价可达10倍以上,如今多数系列已缩水至2至3倍,部分款式跌破发行价。</p><p><strong>这是泡泡玛特的增长悖论:要支撑百亿级营收的高增长,就必须扩大产能、提高铺货密度。但大规模量产会持续侵蚀IP稀缺性,蚕食消费者的收藏信心,最终反噬毛利率与品牌调性。</strong></p><p>王宁曾说:“我们的成功不是盲盒的成功,而是商业和艺术平衡的成功。艺术是追求独特的,但商业是追求普遍的,这是一个矛盾,而我们做的事情是尽量做到平衡。”当规模扩张的速度越过平衡的临界点,这个矛盾以前所未有的锐度暴露出来。</p><p>潮玩行业有一条规律:IP生命周期普遍走孵化、成长、成熟、衰退的曲线,爆款平均热度周期约18到24个月。绝大多数IP停留在形象驱动、产品变现的浅层,缺乏长期叙事支撑与情感内核,难以穿越周期成为经典。这是行业IP生命周期的“阿喀琉斯之踵”,也是泡泡玛特无法回避的结构性短板。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b5e18c75e544c4ff407d35ce0f1179ca\" tg-width=\"804\" tg-height=\"345\"/></p><p>图片来源:<a href=\"https://laohu8.com/S/03908\">中金公司</a>研究部</p><p>与<a href=\"https://laohu8.com/S/DIS\">迪士尼</a>等全球IP巨头成熟的“内容先行、世界观打底”模式相比,泡泡玛特的IP运营路径是“形象出圈、盲盒爆卖、多品类延伸”。消费者对LABUBU、MOLLY们的喜爱,更多停留在视觉和情绪层面,缺少对角色的深度认同。</p><p>泡泡玛特显然意识到了这一短板,近年已明显加大内容与场景投入:宣布与<a href=\"https://laohu8.com/S/SONY\">索尼</a>影业合作,为LABUBU打造真人动画电影。推进POP LAND主题乐园1.5期开业,同时布局小家电、甜品、饰品等多元业态,试图用场景延长IP寿命。</p><p>但电影能不能拍好,还是未知数。尤其是LABUBU的爆火,同样依赖设计风格与社交传播,而非基于成熟故事积累,将一个视觉符号转化为能打动大众的银幕故事,难度远超产品迭代。泡泡玛特擅长的是IP工业化孵化、产品落地与渠道销售,在影视编剧、世界观构建、长内容运营上几乎从零起步,内容工业化能力尚待培育。</p><p>不过,王宁在近期的专访中给出了不同的解释。他将LABUBU比作“梅西式的体育明星”,不是迪士尼式的影视角色。他认为LABUBU不靠故事驱动,靠的是普世审美形象、高频产品迭代和长期陪伴感。“人们不需要梅西有故事,他站在那里就能让人开心。LABUBU的逻辑是一样的。”</p><p>这个定位将泡泡玛特的IP模式与迪士尼做了明确切割:前者走“形象即内容”的体育明星路线,后者走“故事驱动形象”的影视工业路线。哪条路能支撑更长的IP生命周期,目前尚无定论。但至少,这个比喻为理解泡泡玛特的IP模式,提供了一个新刻度。</p><p>泡泡玛特的股价重挫,是一次估值范式的切换。市场正在将它从不可预测的爆发式增长股,重新定价为可见度更高的稳健成长股。当增速从三位数回落至20%区间,现金流质量、盈利能力和护城河宽度,将成为更重要的估值定价因子。</p><p><strong>未来,市场对泡泡玛特的关注点将聚焦于三个指标:单一IP营收占比能否降到30%以下,证明平台的抗风险能力;海外单店模型能否交出精细化数据,验证全球化不是“烧钱换增长”;内容建设能否取得实质进展,为IP注入穿越周期的文化内核。</strong></p><p>“尊重时间,尊重经营。”王宁说过的这八个字,或许正是潮玩产业穿越周期的注脚。迪士尼花了数十年建立起米奇的文化地位,三丽鸥耕耘<a href=\"https://laohu8.com/S/MOMO\">Hello</a> Kitty也超过半个世纪。泡泡玛特从2010年成立到MOLLY破圈用了近8年,LABUBU全球爆火还不到2年。</p><p>但现在,市场不只看过去了。经历估值泡沫与理性回归之后,真正具备IP运营能力的公司,终会赢得“时间的复利”。在此之前,市场的每一次热情,都可能被理性预期浇上一盆冷水。</p></body></html>","source":"zgqyj","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>神话与隐忧,泡泡玛特值得段永平“抄底”吗?</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{ 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n神话与隐忧,泡泡玛特值得段永平“抄底”吗?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-05-11 08:14 北京时间 <a href=https://mp.weixin.qq.com/s/USt6FHKH0cvEaW_yV8P3BA><strong>中国企业家杂志</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>泡泡玛特是能持续造血的IP平台,还是恰好撞上风口的爆款制造商?一只毛绒精灵,两种极端叙事。4月30日晚10点,泡泡玛特首款冰箱产品在京东和天猫同步开售。THE MONSTERS生活家系列冷藏箱,两个版本各限量999台,均定价5999元。截至开售,京东平台预约人数超6万,开售即罄。二手市场瞬时沸腾。有媒体报道,得物平台成交价一度冲至20999元。还有购入者直言,冰箱不会插电,就摆在家里的玩具柜旁边。...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/USt6FHKH0cvEaW_yV8P3BA\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/30dc37d452f250ce3fb402a1655ca971","relate_stocks":{"LU0588546209.SGD":"Eastspring Investments - China Equity Fund AS SGD","LU0593848301.USD":"未来资产亚洲卓越消费股票基金A","LU0823426308.USD":"法巴中国股票基金","LU0164880469.USD":"HSBC GIF HONG KONG EQUITY \"AC\" ACC","LU0499858602.USD":"NINETY ONE GSF ASIA PACIFIC EQUITY 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ACC","BK1224":"专卖店","LU0823426480.USD":"法巴中国股票经典Dis"},"source_url":"https://mp.weixin.qq.com/s/USt6FHKH0cvEaW_yV8P3BA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152980153","content_text":"泡泡玛特是能持续造血的IP平台,还是恰好撞上风口的爆款制造商?一只毛绒精灵,两种极端叙事。4月30日晚10点,泡泡玛特首款冰箱产品在京东和天猫同步开售。THE MONSTERS生活家系列冷藏箱,两个版本各限量999台,均定价5999元。截至开售,京东平台预约人数超6万,开售即罄。二手市场瞬时沸腾。有媒体报道,得物平台成交价一度冲至20999元。还有购入者直言,冰箱不会插电,就摆在家里的玩具柜旁边。6天后的5月6日,泡泡玛特创始人、CEO王宁现身一档播客节目,称内部从去年LABUBU火爆时期,就在“理性灭火”。他透露,公司为了防止流量透支,暂停了LABUBU的新品发布、线下营销和多类开店、授权的合作,很多原定2025年推出的产品被推到了2026年。一脚刹车下去,踩出两种现实。3月25日,泡泡玛特交出2025年成绩单:营收371.2亿元,同比增长184.7%;经调整净利润130.8亿元,增长284.5%;毛利率72.1%。财报发布当日股价暴跌22.5%,第二天继续下跌10.46%,两个交易日累计跌幅超30%。摄影:吴莹截至5月8日收盘,泡泡玛特报收168.10港元。虽近期走势有所修复,但股价较去年8月339.80港元的历史高点,已跌去一半,对应市值蒸发超过2000亿港元。就在市场担忧泡泡玛特的增长神话即将落幕之际,剧情发生戏剧性反转。以价值投资著称的段永平,从3月起,便在“雪球”上力挺泡泡玛特,宣称自己是王宁的粉丝。5月7日,段永平宣布清仓中国神华,全额换仓买入泡泡玛特。市场的恐慌与段永平逆势出手形成张力对照,也让泡泡玛特的长期价值更值得被深度拆解。过去一年,泡泡玛特几乎踩中了所有风口。LABUBU进化为全球现象级消费符号,THE MONSTERS系列年营收冲过140亿元,直接拉动公司毛利率突破72%。海外门店一年净增100家,美洲市场收入同比增长748%,TikTok渠道登顶美国销售榜。员工规模破万,公司市值高点突破4200亿港元。但高速运转的机器内部,压力同步累积。泡泡玛特库存从15亿元膨胀至54亿元,现金转换周期拉长了近一个月,利润向现金流的转化效率出现下滑。当增速从三位数回落到财报会上王宁口中的“不低于20%”,市场对这家公司的定价逻辑亦被重置。当一台跑车从全速冲刺切到巡航模式,发动机每个异响都会被放大。王宁挥刀向内,与热潮相向而行。他给2025年的公司业绩打90到95分,给组织管理只打了70分。过去一年的业绩增长被他比作“新手开F1”,“只有别人认为你很爽,实际上自己压力很大”,2026年则是“进站维修年”。王宁 来源:受访者要支撑百亿级营收的高增长,就必须扩大产能、提高铺货密度。但大规模量产会持续侵蚀IP稀缺性,蚕食消费者的收藏信心,最终反噬毛利率与品牌调性。这是泡泡玛特的增长悖论。这期间,王宁还要面临一个更本质的问题:一个组织,如何与高速增长形成的扩张惯性对抗?泡泡玛特到底是一家能持续造血、穿越周期的IP平台,还是一家恰好撞上风口、终将回归平庸的爆款制造商?从财务角度看,真相介于两者之间。泡泡玛特确实在向平台化进化,但LABUBU占比不降反升的趋势也表明,这种平台化能力尚未完全成熟。本文将基于财务视角,从估值逻辑、增长结构、商业模式三个维度,拆解这场价值重估的成因和边界。市场慌了:一个满分答卷,三个不安信号资本市场交易的从来不是过去,是对未来的出价。泡泡玛特3月25日的财报,释放了三个让投资者迅速行动的信号。第一个信号,是增速指引的落差。2025年营收增速184.7%,王宁在财报会上给出的2026年增长目标是“不低于20%”。从三位数骤降到20%区间,这个落差直接击穿了泡泡玛特作为成长股的估值基础。在现金流折现模型的框架下,当市场将高速增长期假设从5年压缩为3~5年、将永续增长率从5%至8%调降至3%至5%,企业估值会发生系统性下移。以泡泡玛特为例,按狂热期参数估算的估值量级可以高达3.8万亿港元,切换至理性假设后降至约2200亿港元。第二个信号,是371亿元还“差了一口气”。2025年泡泡玛特371.2亿元的实际营收,比市场普遍预期的379.6亿元少了约8亿元。放在平时,这点差距无人在意。但在市场情绪紧绷的节点上,业绩和指引双双不及预期,直接动摇了投资者对盈利能见度的信心。第三个信号,是机构在有序撤离。财报发布当日,卖空成交额高达46.3亿港元,创上市以来新高。花旗银行、国泰君安国际等外资席位是主要的净卖出方,南向资金却反向持续净买入。多空双方的激烈分歧,说明一个问题:泡泡玛特正站在估值范式切换的十字路口,有人看到泡沫破裂,有人看到错杀机会。整体来看,通过DCF(现金流折现)模型重估企业价值,此次股价回调更像一次迟到的估值与基本面的重新匹配。回顾2025年,泡泡玛特股价从年初的约90港元,最高飙升至339.80港元,最高涨幅超350%。这一涨势背后,是市场对其“IP神话”“全球化突破”“品类升级”的过度乐观预期,推动估值脱离基本面形成溢价。如今的回调,也是市场从狂热期假设向理性调整后,假设切换的必然结果。增长模式“变重”:钱去哪儿了?如果增速指引是导火索,资产负债表和现金流量表细节才是炸药。从财报来看,泡泡玛特的利润表依然光芒万丈,但增长质量已出现边际变化。存货的膨胀速度最为直观。2025年末存货54.73亿元,较上年同期的15.25亿元增长258.9%,远超184.7%的营收增速。存货周转天数从100.98天拉长到121.63天,周转率从3.56次降到2.96次。货品生产出来的速度,已经快过卖出去的速度。泡泡玛特库存已处于高位,一旦核心IP热度回落,库存压力可能从增长推力,转为去化压力乃至减值风险。更值得关注的,是利润向现金流的转化效率。2025年净利润127.76亿元,同比增长308.8%。但经营活动现金流净额只有108.65亿元,增速119.3%,明显落后于利润增速。经营现金流与净利润的比值,从2024年的1.59倍降至0.85倍。每赚1元账面利润,实际回笼现金从1.59元缩水到0.85元。钱去哪了?泡泡玛特的营运资本变动从正2.46亿元转为负35.50亿元,大量现金被锁定在库存和经营性项目里。现金转换周期也拉长了。应收账款周转天数从11.03天降到6.78天,回款效率实际上在改善。但应付账款周转天数从60.49天降到49.86天,意味着公司对上游供应商付款加快,没有用延长账期缓冲现金压力。这一变化至少说明,在业务快速扩张阶段,公司未能有效借助供应链信用对冲营运资本占用,对自有资金的依赖反而有所增强。综合下来,公司的现金转换周期从51.52天拉长到了78.55天。对一家处于高增长阶段,且估值高度依赖未来扩张预期的消费公司而言,现金转换周期拉长往往比单纯的利润波动更值得警惕。因为这意味着未来每新增一单位收入,需要占用更多资金去支撑。对于高估值成长股而言,市场最敏感的往往不是利润绝对值,而是利润的兑现质量。利润增长当然会提升估值想象力,但如果现金流跟不上、营运资本持续吞噬现金,那么市场就会开始质疑这种增长究竟能维持多久,又需要付出多大代价。泡泡玛特2025年财报揭示出增长模式的切换。利润表依然强劲,但资产负债表与现金流量表的压力同步上升。此前市场将其视为高毛利、高周转、高弹性的IP消费公司,随着库存、营运资本和现金转换周期同步承压,市场已转向以“重营运约束”视角审视其增长路径。综合来看,库存增速超过收入增速,存货周转放缓,营运资本大量消耗现金,现金转换周期延长,经营现金流增速明显落后于净利润增速……这些指标尚未构成财务风险,公司流动比率和速动比率仍处于安全区间,但意味着增长模式在发生变化,泡泡玛特正从“轻盈爆发”转入“负重前行”。特别是当管理层对增速预期也回归到20%区间,市场估值的锚点就会从利润增速,转向资产周转效率和现金流兑现质量。等待下一个LABUBU:一个爆款撑起的增长,能走多远?泡泡玛特以IP为核心,围绕全球艺术家挖掘、IP孵化运营、消费者触达、潮玩文化推广、关联产业投资整合五个领域,构建了覆盖潮流玩具全产业链的综合运营平台。数据来源:公司招股书、业务数据等公开渠道整理市场对泡泡玛特的定价分歧,本质上是两种商业认知的角力。看多者在绘制一张IP平台公司的蓝图,认为其已构建起具有高黏性的用户资产与多元IP矩阵。而看空者则在复盘一部爆款周期股的剧本,认为潮玩消费热度易逝,难以穿越周期。泡泡玛特的中国内地累计注册会员总数,从2021年末的1958万跃升至2025年末的7258万,5年间增长超过270%。公司的核心销售几乎全部来源于其会员体系,会员贡献销售占比始终保持在90%以上,2025年更是高达93.7%。复购率虽然有所波动,但在2025年显著回升至55.7%,显示出泡泡玛特的高度会员黏性和忠诚度。这意味着,泡泡玛特卖的不再是单纯的玩具,而是一张通往年轻世代情感消费的门票。泡泡玛特确实在向平台化进化,但LABUBU占比不降反升的趋势也表明,这种平台化能力尚未完全成熟。具体来看:1.LABUBU:半壁江山与偶然性难题THE MONSTERS系列2025年营收141.61亿元,同比增长365.72%,泡泡玛特第一个百亿级IP就此诞生,它的营收增量贡献占公司全年增量近一半。毛绒产品定价高于传统盲盒,叠加海外商品的更高溢价,直接拉高公司整体毛利率至72.10%。但爆款的偶然性摆在那里。王宁多次公开表达,LABUBU的全球爆红始于意外明星效应,“意外爆款”难以标准化复制。资本市场始终在审慎怀疑:泡泡玛特能不能持续孵化出下一个同等体量的IP?随着THE MONSTERS 4.0系列发售和供给量放大,部分普通款在二级市场已跌破官方售价,IP的金融炒作属性正在弱化。今年5月,王宁接受专访时透露,公司在LABUBU热度最高时主动暂停新品发布、线下营销和多类对外合作,“让它自然降温反而能延长生命周期”。这说明,管理层已意识到超级IP热度的脆弱性,选择主动控速。2.IP矩阵:一超多强与结构性断层从表面看,泡泡玛特已构建起庞大的IP矩阵。2025年,公司17个IP收入过亿,SKULLPANDA(35.40亿元)、CRYBABY(29.29亿元)、MOLLY(28.97亿元)、DIMOO(27.77亿元)、星星人(20.56亿元)等6个IP进入20亿俱乐部。但拆开看,第二梯队离领头羊差得还是太远。SKULLPANDA与LABUBU的营收差距高达106亿元,几乎是一个中型IP的全年体量。一旦LABUBU增速放缓,其他IP难以平滑公司整体增长曲线。新老IP的增速分化也让人警醒。2024年签约的星星人,2025年营收暴增1601.81%至20.56亿元,展现了泡泡玛特的IP孵化潜能。但经典IP MOLLY同期增速只有38.41%,显著低于公司整体水平。成熟IP消费群体趋于稳定,新鲜感驱动的增量动能正在衰减。单纯靠形象迭代,能不能维持长期高增长?这是泡泡玛特绕不开的问题。MOLLY的“先例”可资借鉴。2017年,MOLLY一度占泡泡玛特自有品牌收入89.4%,撑起公司近乎全部增长。随后热度回落,收入占比在2018年降至62.9%,2019年进一步降到32.9%。2021年高点后,泡泡玛特股价从70多港元一度跌到不足10港元。当前LABUBU的收入占比已近40%,成为新的超级顶流,是否可能会重蹈MOLLY覆辙?一旦其热度褪去,公司能否快速找到下一个接替者?3.海外市场:高基数上的增速换挡海外是2025年泡泡玛特业绩的重要引擎:海外收入162.68亿元,同比增长291.89%,营收占比从31.80%升至43.80%。美洲市场收入68.06亿元,增长748.40%;欧洲市场收入14.51亿元,增长506.30%。但高基数压力已在2026年第一季度兑现。彭博社援引Bloomberg Second Measure信用卡交易数据,泡泡玛特美国市场1月同比增长130%,2月降至41%,3月同比转负,下降45%。分析师指出,新品集中在1至2月上线,动能快速衰减,消费者对非LABUBU IP产品的接受度仍有限。高速增长背后,增速边际放缓的隐忧已经显现,尤其是运营复杂性持续提升,海外市场的快速拓店,对供应链响应速度、本地化营销能力、国际化人才储备提出了更高要求。粗放式扩张之后,运营效率的提升将成为泡泡玛特海外业务持续增长的关键。管理层已着手调整北美策略。据中银国际4月专家访谈纪要,北美团队2025年侧重铺货与开店,产品供给与本地消费偏好存在错配。修复方向包括:签约北美本地艺术家开发产品、提升墨西哥工厂产能覆盖约85%的北美供应、从线上渠道转向旗舰店大店体验驱动品牌认知。增长与稀缺的悖论:IP能火多久?泡泡玛特长期维持的超高毛利率,根源在于情感溢价,而情感溢价的核心支撑是稀缺性。这种稀缺性带来的收藏属性,更接近经济学中的“凡勃伦”商品,稀缺性越强、溢价越高,吸引力反而越大。回顾近5年业绩,泡泡玛特毛利率从2021年的61.4%攀升至2025年的72.1%,靠的就是头部IP爆款效应和稀缺机制——但商业扩张要求持续扩产放量。2025年LABUBU月产能提升至5000万件,大规模铺货直接导致二级市场溢价收窄。早期MOLLY隐藏款溢价可达10倍以上,如今多数系列已缩水至2至3倍,部分款式跌破发行价。这是泡泡玛特的增长悖论:要支撑百亿级营收的高增长,就必须扩大产能、提高铺货密度。但大规模量产会持续侵蚀IP稀缺性,蚕食消费者的收藏信心,最终反噬毛利率与品牌调性。王宁曾说:“我们的成功不是盲盒的成功,而是商业和艺术平衡的成功。艺术是追求独特的,但商业是追求普遍的,这是一个矛盾,而我们做的事情是尽量做到平衡。”当规模扩张的速度越过平衡的临界点,这个矛盾以前所未有的锐度暴露出来。潮玩行业有一条规律:IP生命周期普遍走孵化、成长、成熟、衰退的曲线,爆款平均热度周期约18到24个月。绝大多数IP停留在形象驱动、产品变现的浅层,缺乏长期叙事支撑与情感内核,难以穿越周期成为经典。这是行业IP生命周期的“阿喀琉斯之踵”,也是泡泡玛特无法回避的结构性短板。图片来源:中金公司研究部与迪士尼等全球IP巨头成熟的“内容先行、世界观打底”模式相比,泡泡玛特的IP运营路径是“形象出圈、盲盒爆卖、多品类延伸”。消费者对LABUBU、MOLLY们的喜爱,更多停留在视觉和情绪层面,缺少对角色的深度认同。泡泡玛特显然意识到了这一短板,近年已明显加大内容与场景投入:宣布与索尼影业合作,为LABUBU打造真人动画电影。推进POP LAND主题乐园1.5期开业,同时布局小家电、甜品、饰品等多元业态,试图用场景延长IP寿命。但电影能不能拍好,还是未知数。尤其是LABUBU的爆火,同样依赖设计风格与社交传播,而非基于成熟故事积累,将一个视觉符号转化为能打动大众的银幕故事,难度远超产品迭代。泡泡玛特擅长的是IP工业化孵化、产品落地与渠道销售,在影视编剧、世界观构建、长内容运营上几乎从零起步,内容工业化能力尚待培育。不过,王宁在近期的专访中给出了不同的解释。他将LABUBU比作“梅西式的体育明星”,不是迪士尼式的影视角色。他认为LABUBU不靠故事驱动,靠的是普世审美形象、高频产品迭代和长期陪伴感。“人们不需要梅西有故事,他站在那里就能让人开心。LABUBU的逻辑是一样的。”这个定位将泡泡玛特的IP模式与迪士尼做了明确切割:前者走“形象即内容”的体育明星路线,后者走“故事驱动形象”的影视工业路线。哪条路能支撑更长的IP生命周期,目前尚无定论。但至少,这个比喻为理解泡泡玛特的IP模式,提供了一个新刻度。泡泡玛特的股价重挫,是一次估值范式的切换。市场正在将它从不可预测的爆发式增长股,重新定价为可见度更高的稳健成长股。当增速从三位数回落至20%区间,现金流质量、盈利能力和护城河宽度,将成为更重要的估值定价因子。未来,市场对泡泡玛特的关注点将聚焦于三个指标:单一IP营收占比能否降到30%以下,证明平台的抗风险能力;海外单店模型能否交出精细化数据,验证全球化不是“烧钱换增长”;内容建设能否取得实质进展,为IP注入穿越周期的文化内核。“尊重时间,尊重经营。”王宁说过的这八个字,或许正是潮玩产业穿越周期的注脚。迪士尼花了数十年建立起米奇的文化地位,三丽鸥耕耘Hello Kitty也超过半个世纪。泡泡玛特从2010年成立到MOLLY破圈用了近8年,LABUBU全球爆火还不到2年。但现在,市场不只看过去了。经历估值泡沫与理性回归之后,真正具备IP运营能力的公司,终会赢得“时间的复利”。在此之前,市场的每一次热情,都可能被理性预期浇上一盆冷水。","news_type":1,"symbols_score_info":{"09992":1.5}},"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":540673355362904,"gmtCreate":1773018389213,"gmtModify":1773018391504,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"说说你对这篇新闻的看法...","listText":"说说你对这篇新闻的看法...","text":"说说你对这篇新闻的看法...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/540673355362904","repostId":"2618205694","repostType":2,"repost":{"id":"2618205694","kind":"news","pubTimestamp":1773010819,"share":"https://www.laohu8.com/m/news/2618205694?lang=zh_CN&edition=full","pubTime":"2026-03-09 07:00","market":"us","language":"zh","title":"马斯克X平台发声,特斯拉要造首款实体 AGI,人形机器人 2026 量产百万台","url":"https://stock-news.laohu8.com/highlight/detail?id=2618205694","media":"未来机器人网","summary":"在社交平台 X 的最新发言中,他掷地有声:特斯拉将率先打造出具备人形形态、可实现实体世界交互的 AGI 产品。为了保障 Optimus Gen 3 的量产,特斯拉毅然关停了弗里蒙特工厂的经典车型产线,将核心生产资源全部倾斜给机器人项目,并定下了 2026 年的硬核里程碑:一季度发布量产定型原型机,年中小批量落地工业场景,年底启动大批量生产,长期年产能直指100 万台。马斯克的 AGI 版图,从来不止于地面。2026 年,将成为 AGI 发展的关键节点。","content":"<html><body><article><p>当所有人还在争论大语言模型算不算 <a href=\"https://laohu8.com/S/AGBK\">AGI</a> 时,马斯克为通用人工智能的未来定下了新答案。在社交平台 X 的最新发言中,他掷地有声:<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>将率先打造出具备人形形态、可实现实体世界交互的 AGI 产品。</p><img src=\"https://mmbiz.qpic.cn/sz_mmbiz_png/icQaeEnPQ4nb22QBQBw8lr8tQfuJt9pOyyjWLjicxND1SL1PZTK69iby2WCjCjHMDHj0pzjwZ8zz62tqj4tBZjibXhzI1rvFGyIrdFsUI4iauXIA/640?wx_fmt=png&from=appmsg\"/><p>从停产 Model S、Model X 为机器人产线腾空间,到 xAI 并入 SpaceX 搭建太空算力网络,特斯拉的每一步动作都在宣告:这家曾重新定义电动汽车的公司,正以现实世界 AI 为基石,试图再次颠覆人类对人工智能的认知。这一次,马斯克的目标不是造一个会聊天的 AI,而是让 AGI 走出屏幕,成为能真正触摸、感知、改造物理世界的 “实体智能”。</p><p>特斯拉的 AGI 底气来自扎根在数年深耕的FSD 全无人驾驶体系里。和市面上聚焦文本处理的 AI 企业不同,特斯拉的 AI 从诞生之初就围绕物理世界设计:通过海量真实路况视觉数据投喂,搭配自研高扩展性 AI 芯片,让汽车学会在复杂环境中 “看见” 世界、做出毫秒级决策。这套能深度理解物理规则的 “数字大脑”,正是实体 AGI 的核心基石 —— 它突破了纯文本 AI 的被动局限,实现了对现实世界的主动感知、决策与交互。</p><p>如今,这套打磨多年的技术能力,正全面平移到人形机器人 Optimus 身上,而特斯拉的推进速度,远超行业想象。为了保障 Optimus Gen 3 的量产,特斯拉毅然关停了弗里蒙特工厂的经典车型产线,将核心生产资源全部倾斜给机器人项目,并定下了 2026 年的硬核里程碑:一季度发布量产定型原型机,年中小批量落地工业场景,年底启动大批量生产,长期年产能直指100 万台。更令人震撼的是,特斯拉计划将规模化后的 Optimus 售价控制在 2 万美元以内,让这款人形机器人从实验室走向千家万户,覆盖工业生产与家庭日常两大核心场景,复刻 Model 3 的<a href=\"https://laohu8.com/S/QC7.SI\">全民</a>普及之路。</p><p>马斯克的 AGI 版图,从来不止于地面。这场布局,在于实现了太空算力与地面实体的完美分工:被 SpaceX 正式收购的 xAI,将聚焦太空领域搭建由超百万颗 AI 卫星组成的算力网络,利用太空恒定的太阳能和无散热<span>成本优势</span>,突破地面能源对 AI 算力的物理限制,打造全球无死角的 “<a href=\"https://laohu8.com/S/002132\">恒星</a>级” 算力基础设施;而特斯拉则成为地面 “现实世界智能” 的核心阵地,Optimus 人形机器人就是这套太空算力在物理世界的 “手脚”,让 AGI 真正拥有实体交互的能力。</p><p>行业专家普遍认为,SpaceX 与特斯拉的深度融合已成大势所趋。一旦太空轨道级算力与地面人形 AGI 完成结合,将诞生一家前所未见的科技巨头 —— 太空算力网络为 AGI 提供无限的计算支撑,特斯拉机器人则让 AGI 拥有落地执行的载体,二者相辅相成,构建起从 “云端算力” 到 “实体应用” 的完整 AGI 生态。这盘棋的野心,早已超越了单纯的技术研发,而是要打造一个横跨天地的 AI <a href=\"https://laohu8.com/S/00776\">帝国</a>。</p><p>当然,马斯克的 AGI 之路并非毫无挑战。从原型机到百万台量产,Optimus 要跨过规模化生产、成本控制的 “产能地狱”;实体 AGI 的普及,也将带来就业冲击、安全伦理等全人类需要面对的课题;而太空算力网络的搭建,更是需要突破发射运力、轨道部署等多重技术难关。但正如当年特斯拉造电动车被全行业质疑,如今马斯克再次用实际行动打破质疑:200 亿美元资本支出、自研 Dojo 超级算力、全链路技术闭环,特斯拉正一步一个脚印,将科幻中的实体 AGI 变成现实。</p><p>马斯克曾说,特斯拉的终局从来不是一家电动汽车公司。如今看来,这句话正在成为现实。当 Optimus 的生产线在弗里蒙特工厂启动,当太空 AI 卫星开始部署,特斯拉正在完成从 “交通工具制造商” 到 “物理 AI 平台” 的彻底转型。而这场转型的背后,是对 AGI 本质的深刻理解:真正的通用人工智能,从来不是困在屏幕里的代码,而是能走进现实世界,与人类并肩的 “实体智能”。</p><p>2026 年,将成为 AGI 发展的关键节点。特斯拉的 Optimus 能否如期量产,太空算力网络能否顺利落地,马斯克的实体 AGI 梦想能否照进现实?答案或许不远了。但可以确定的是,马斯克再次站在了科技变革的前沿,而这一次,他要带领人类走进的,是一个 AGI 与现实世界深度交融的全新未来。</p></article></body></html>","source":"tencent","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 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padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n马斯克X平台发声,特斯拉要造首款实体 AGI,人形机器人 2026 量产百万台\n</h2>\n\n<h4 class=\"meta\">\n\n\n2026-03-09 07:00 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2026030907082395458849&s=b><strong>未来机器人网</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>当所有人还在争论大语言模型算不算 AGI 时,马斯克为通用人工智能的未来定下了新答案。在社交平台 X 的最新发言中,他掷地有声:特斯拉将率先打造出具备人形形态、可实现实体世界交互的 AGI 产品。从停产 Model S、Model X 为机器人产线腾空间,到 xAI 并入 SpaceX 搭建太空算力网络,特斯拉的每一步动作都在宣告:这家曾重新定义电动汽车的公司,正以现实世界 AI 为基石,试图再次...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN2026030907082395458849&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRSH":"做空TSLA 期权收益策略ETF-YieldMax","07766":"南方两倍做多特斯拉","LU2290526834.HKD":"BGF NEXT GENERATION TECHNOLOGY \"A2\" (HKDHDG) ACC","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","BK4550":"红杉资本持仓","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","BK4588":"碎股","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","BK4598":"佩洛西持仓","LU0323591593.USD":"SCHRODER ISF QEP GLOBAL QUALITY \"A\" (USD) ACC","BK4551":"寇图资本持仓","LU1267930730.SGD":"富兰克林美国机遇基金AS Acc SGD (CPF)","LU0109391861.USD":"富兰克林美国机遇基金A Acc","LU2357305700.SGD":"Allianz Global 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2026 年的硬核里程碑:一季度发布量产定型原型机,年中小批量落地工业场景,年底启动大批量生产,长期年产能直指100 万台。更令人震撼的是,特斯拉计划将规模化后的 Optimus 售价控制在 2 万美元以内,让这款人形机器人从实验室走向千家万户,覆盖工业生产与家庭日常两大核心场景,复刻 Model 3 的全民普及之路。马斯克的 AGI 版图,从来不止于地面。这场布局,在于实现了太空算力与地面实体的完美分工:被 SpaceX 正式收购的 xAI,将聚焦太空领域搭建由超百万颗 AI 卫星组成的算力网络,利用太空恒定的太阳能和无散热成本优势,突破地面能源对 AI 算力的物理限制,打造全球无死角的 “恒星级” 算力基础设施;而特斯拉则成为地面 “现实世界智能” 的核心阵地,Optimus 人形机器人就是这套太空算力在物理世界的 “手脚”,让 AGI 真正拥有实体交互的能力。行业专家普遍认为,SpaceX 与特斯拉的深度融合已成大势所趋。一旦太空轨道级算力与地面人形 AGI 完成结合,将诞生一家前所未见的科技巨头 —— 太空算力网络为 AGI 提供无限的计算支撑,特斯拉机器人则让 AGI 拥有落地执行的载体,二者相辅相成,构建起从 “云端算力” 到 “实体应用” 的完整 AGI 生态。这盘棋的野心,早已超越了单纯的技术研发,而是要打造一个横跨天地的 AI 帝国。当然,马斯克的 AGI 之路并非毫无挑战。从原型机到百万台量产,Optimus 要跨过规模化生产、成本控制的 “产能地狱”;实体 AGI 的普及,也将带来就业冲击、安全伦理等全人类需要面对的课题;而太空算力网络的搭建,更是需要突破发射运力、轨道部署等多重技术难关。但正如当年特斯拉造电动车被全行业质疑,如今马斯克再次用实际行动打破质疑:200 亿美元资本支出、自研 Dojo 超级算力、全链路技术闭环,特斯拉正一步一个脚印,将科幻中的实体 AGI 变成现实。马斯克曾说,特斯拉的终局从来不是一家电动汽车公司。如今看来,这句话正在成为现实。当 Optimus 的生产线在弗里蒙特工厂启动,当太空 AI 卫星开始部署,特斯拉正在完成从 “交通工具制造商” 到 “物理 AI 平台” 的彻底转型。而这场转型的背后,是对 AGI 本质的深刻理解:真正的通用人工智能,从来不是困在屏幕里的代码,而是能走进现实世界,与人类并肩的 “实体智能”。2026 年,将成为 AGI 发展的关键节点。特斯拉的 Optimus 能否如期量产,太空算力网络能否顺利落地,马斯克的实体 AGI 梦想能否照进现实?答案或许不远了。但可以确定的是,马斯克再次站在了科技变革的前沿,而这一次,他要带领人类走进的,是一个 AGI 与现实世界深度交融的全新未来。","news_type":1,"symbols_score_info":{"TSLO":0.6,"UFO":0.6,"TSYY":0.6,"TSL":0.6,"07766":0.6,"TSLT":0.6,"TSLP":0.6,"TLA":0.6,"TSLG":0.6,"TSLQ":0.6,"TSLS":0.6,"TSLA":1.98,"TSLZ":0.6,"TSII":0.6,"TSLY":0.6,"TSDD":0.6,"TSLR":0.6,"CRSH":0.6,"TSLI":0.6,"TSLW":0.6,"TEST":0.6,"TESL":0.6}},"isVote":1,"tweetType":1,"viewCount":982,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":511325210666192,"gmtCreate":1765862224019,"gmtModify":1765862226528,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"拭目以待...。","listText":"拭目以待...。","text":"拭目以待...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/511325210666192","repostId":"2591035649","repostType":2,"repost":{"id":"2591035649","kind":"news","pubTimestamp":1765804363,"share":"https://www.laohu8.com/m/news/2591035649?lang=zh_CN&edition=full","pubTime":"2025-12-15 21:12","market":"us","language":"zh","title":"Wedbush:未来一年内,特斯拉市值将涨破2万亿美元","url":"https://stock-news.laohu8.com/highlight/detail?id=2591035649","media":"智通财经","summary":"智通财经APP获悉,Wedbush Securities认为,特斯拉未来将会有极为出色的表现。该机构预计,特斯拉在未来一年内市值将超过 2 万亿美元,在乐观的市场情景下,到 2026 年底其市值将达到 3 万亿美元。届时,随着自动驾驶和机器人技术路线图的全面量产,特斯拉将全面掌控全球约 70%的自动驾驶市场。截至发稿,特斯拉的股票在盘前交易中上涨了 1.1%,达到每股 463.87 美元,而其 52 周的交易区间为 214.25 美元至 488.54 美元,目前特斯拉的市值超过 1.53 万亿美元。","content":"<html><head></head><body><p>12月15日,Wedbush Securities认为,<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>未来将会有极为出色的表现。目前市场上的看多和看空双方正在就未来一年内“自动驾驶出租车”(Robotaxi)时代会以何种速度形成展开激烈辩论,而就在几个月前,特斯拉自动驾驶出租车服务在奥斯汀已经成功完成了首次亮相。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c69c4d9d4f5e12bc9a0a6fe095515044\" tg-width=\"560\" tg-height=\"240\"/></p><p>Wedbush分析师Dan Ives写道:“我们预计,特斯拉将在美国各地加快推出自动驾驶出租车服务的步伐,更重要的是,Cybercab的量产计划将在 4 月/5 月期间启动。简而言之,我们认为特斯拉正在采取重大举措,推进其人工智能革命进程,自动驾驶和机器人技术将成为其未来发展的核心重点,这将改变游戏规则,并为特斯拉的未来定下基调。”</p><p>Ives重申对特斯拉的“跑赢大盘”评级:对于特斯拉而言,其人工智能和自动驾驶方面的机遇价值至少 1 万亿美元;预计在未来三到六个月里,关键举措将加快推进,因为该公司过去几年在 FSD 和自动化方面所遭遇的联邦监管网络问题将得到解决。</p><p>该机构预计,特斯拉在未来一年内市值将超过 2 万亿美元,在乐观的市场情景下,到 2026 年底其市值将达到 3 万亿美元。届时,随着自动驾驶和机器人技术路线图的全面量产,特斯拉将全面掌控全球约 70%的自动驾驶市场。Ives在展望未来时写道:“我们预计,在未来十年内,特斯拉将在全球自动驾驶市场占据约 70%的份额,因为世界上没有其他公司能与特斯拉的规模和影响力以及其不断扩大的人工智能布局相匹敌。”</p><p>截至发稿,特斯拉的股票在盘前交易中上涨了 1.1%,达到每股 463.87 美元,而其 52 周的交易区间为 214.25 美元至 488.54 美元,目前特斯拉的市值超过 1.53 万亿美元。</p></body></html>","source":"stock_zhitongcaijing","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>Wedbush:未来一年内,特斯拉市值将涨破2万亿美元</title>\n<style 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href=\"http://www.zhitongcaijing.com/content/detail/1381800.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e49ab90f6352b6ebbb45091ad18b5a2e","relate_stocks":{"LU1548497426.USD":"安联环球人工智能AT Acc","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU2456880835.USD":"ALLIANZ GLOBAL INCOME \"AT\" (USD) ACC","LU1366192091.USD":"ALLIANZ US EQUITY PLUS \"AM\" (USD) INC","LU0823411888.USD":"法巴消费创新基金 Cap","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","IE00B19Z8W00.USD":"FTGF CLEARBRIDGE US LARGE CAP GROWTH \"A\" INC","IE0034235303.USD":"PINEBRIDGE US RESEARCH ENHANCED CORE EQUITY \"A\" (USD) ACC","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","IE00BK4W5M84.HKD":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","LU0823414478.USD":"法巴经典能源转换基金","BK4612":"AI芯片","LU0316494557.USD":"FRANKLIN GLOBAL FUNDAMENTAL STRATEGIES \"A\" 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Securities认为,特斯拉未来将会有极为出色的表现。目前市场上的看多和看空双方正在就未来一年内“自动驾驶出租车”(Robotaxi)时代会以何种速度形成展开激烈辩论,而就在几个月前,特斯拉自动驾驶出租车服务在奥斯汀已经成功完成了首次亮相。Wedbush分析师Dan Ives写道:“我们预计,特斯拉将在美国各地加快推出自动驾驶出租车服务的步伐,更重要的是,Cybercab的量产计划将在 4 月/5 月期间启动。简而言之,我们认为特斯拉正在采取重大举措,推进其人工智能革命进程,自动驾驶和机器人技术将成为其未来发展的核心重点,这将改变游戏规则,并为特斯拉的未来定下基调。”Ives重申对特斯拉的“跑赢大盘”评级:对于特斯拉而言,其人工智能和自动驾驶方面的机遇价值至少 1 万亿美元;预计在未来三到六个月里,关键举措将加快推进,因为该公司过去几年在 FSD 和自动化方面所遭遇的联邦监管网络问题将得到解决。该机构预计,特斯拉在未来一年内市值将超过 2 万亿美元,在乐观的市场情景下,到 2026 年底其市值将达到 3 万亿美元。届时,随着自动驾驶和机器人技术路线图的全面量产,特斯拉将全面掌控全球约 70%的自动驾驶市场。Ives在展望未来时写道:“我们预计,在未来十年内,特斯拉将在全球自动驾驶市场占据约 70%的份额,因为世界上没有其他公司能与特斯拉的规模和影响力以及其不断扩大的人工智能布局相匹敌。”截至发稿,特斯拉的股票在盘前交易中上涨了 1.1%,达到每股 463.87 美元,而其 52 周的交易区间为 214.25 美元至 488.54 美元,目前特斯拉的市值超过 1.53 万亿美元。","news_type":1,"symbols_score_info":{"TSLA":1.5,"TSLL":1.5}},"isVote":1,"tweetType":1,"viewCount":2141,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":653027688,"gmtCreate":1680386502345,"gmtModify":1680386504104,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"“不跟”意味着无力应付,而不是别人有没有“定价权”的问题。这样的判断的结果是显而易见的,预计留给他的时间不会很多了...。","listText":"“不跟”意味着无力应付,而不是别人有没有“定价权”的问题。这样的判断的结果是显而易见的,预计留给他的时间不会很多了...。","text":"“不跟”意味着无力应付,而不是别人有没有“定价权”的问题。这样的判断的结果是显而易见的,预计留给他的时间不会很多了...。","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":18,"commentSize":14,"repostSize":0,"link":"https://laohu8.com/post/653027688","repostId":"2324043897","repostType":2,"repost":{"id":"2324043897","kind":"news","pubTimestamp":1680358920,"share":"https://www.laohu8.com/m/news/2324043897?lang=zh_CN&edition=full","pubTime":"2023-04-01 22:22","market":"us","language":"zh","title":"21汽车视频|李斌谈“价格战”:蔚来不参与,特斯拉没有行业定价权","url":"https://stock-news.laohu8.com/highlight/detail?id=2324043897","media":"21财经APP","summary":"21世纪经济报道记者 左茂轩,实习生汪青 北京报道4月1日,在中国电动汽车百人会论坛上,蔚来创始人、董事长、CEO 李斌接受21世纪经济报道记者采访时,回应了对于近期行业“价格战”的看法。这场价格战由特斯拉在年初掀起,不过,李斌认为特斯拉在中国电动车市场还没有掌握行业定价权。他强调,蔚来肯定不会“跟风”,蔚来本身和特斯拉也不在一个市场区间。","content":"<div>\n<p>“用最低的价格去获得最好的产品和服务,经济理论上是不成立的。”21世纪经济报道记者 左茂轩,实习生汪青 北京报道4月1日,在中国电动汽车百人会论坛(2023)上,蔚来创始人、董事长、CEO 李斌接受21世纪经济报道记者采访时,回应了对于近期行业“价格战”的看法。“我们不参与价格战。我们得思考给用户到底创造了什么价值,用最低的价格去获得最好的产品和服务,经济理论上是不成立的。”李斌说。这场价格战由...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20230401222200846e3173&s=b\">网页链接</a>\n\n</div>\n","source":"tencent","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>21汽车视频|李斌谈“价格战”:蔚来不参与,特斯拉没有行业定价权</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{ 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padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n21汽车视频|李斌谈“价格战”:蔚来不参与,特斯拉没有行业定价权\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-04-01 22:22 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20230401222200846e3173&s=b><strong>21财经APP</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“用最低的价格去获得最好的产品和服务,经济理论上是不成立的。”21世纪经济报道记者 左茂轩,实习生汪青 北京报道4月1日,在中国电动汽车百人会论坛(2023)上,蔚来创始人、董事长、CEO 李斌接受21世纪经济报道记者采访时,回应了对于近期行业“价格战”的看法。“我们不参与价格战。我们得思考给用户到底创造了什么价值,用最低的价格去获得最好的产品和服务,经济理论上是不成立的。”李斌说。这场价格战由...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20230401222200846e3173&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO.SI":"蔚来","BK4531":"中概回港概念","BK4526":"热门中概股","BK4099":"汽车制造商","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","BK4555":"新能源车","NIO":"蔚来","09866":"蔚来-SW","TSLA":"特斯拉","LU0052750758.USD":"富兰克林中国基金A Acc","LU0320764599.SGD":"FTIF - Templeton China A Acc SGD","BK4505":"高瓴资本持仓","LU0708995583.HKD":"TEMPLETON CHINA \"A\" (HKD) ACC","BK4504":"桥水持仓","BK4581":"高盛持仓","BK4588":"碎股","BK4548":"巴美列捷福持仓","EVS.SI":"MSCI China Electric Vehicles and Future Mobility ETF-NikkoAM","BK4574":"无人驾驶","BK4509":"腾讯概念","BK4532":"文艺复兴科技持仓"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20230401222200846e3173&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2324043897","content_text":"“用最低的价格去获得最好的产品和服务,经济理论上是不成立的。”21世纪经济报道记者 左茂轩,实习生汪青 北京报道4月1日,在中国电动汽车百人会论坛(2023)上,蔚来创始人、董事长、CEO 李斌接受21世纪经济报道记者采访时,回应了对于近期行业“价格战”的看法。“我们不参与价格战。我们得思考给用户到底创造了什么价值,用最低的价格去获得最好的产品和服务,经济理论上是不成立的。”李斌说。这场价格战由特斯拉在年初掀起,不过,李斌认为特斯拉在中国电动车市场还没有掌握行业定价权。“比亚迪和长安、广汽、上汽、吉利等等很多同行的车都做得很好,中国品牌的车都做得特别好。所以我觉得特斯拉降价也是它在中国市场面临中国品牌这么激烈的竞争以后,采取的一种方法,但我也不觉得它真的有所谓的定价权,虽然它在美国有定价权。所以我认为这恰恰证明了中国的优秀同行做得特别好。”李斌表示。他强调,蔚来肯定不会“跟风”,蔚来本身和特斯拉也不在一个市场区间。至于燃油车和电动车之间的市场竞争,李斌表示,去年680多万辆新能源汽车增长了将近1倍,增加了几百万辆,意味着油车就少了几百万辆,这对油车是有压力的,也能理解他们在这样一个节点的一些市场行为,但是这恰恰说明了由油车向电车转换的趋势。“我觉得,价值要对得住这个价格,这是关键,不是一味地去低价,一味地低价对行业也未必好,不要恶性竞争。”李斌说。(作者:左茂轩,实习生汪青 编辑:张明艳)","news_type":1,"symbols_score_info":{"NIO":0.9,"09866":0.6,"TSLA":0.9,"NIO.SI":0.6,"EVS.SI":0.6}},"isVote":1,"tweetType":1,"viewCount":4196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":616217176,"gmtCreate":1651769963295,"gmtModify":1651770041906,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"都是股市调整幅度较大而空头制造出来的所谓“大跌的原因”,因为前一天他们并没有这样说。之所以大跌的态势还在“苟延残喘”,那就是调整还未结束,但正在结束的路上了。","listText":"都是股市调整幅度较大而空头制造出来的所谓“大跌的原因”,因为前一天他们并没有这样说。之所以大跌的态势还在“苟延残喘”,那就是调整还未结束,但正在结束的路上了。","text":"都是股市调整幅度较大而空头制造出来的所谓“大跌的原因”,因为前一天他们并没有这样说。之所以大跌的态势还在“苟延残喘”,那就是调整还未结束,但正在结束的路上了。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":13,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/616217176","repostId":"1158662522","repostType":2,"isVote":1,"tweetType":1,"viewCount":4305,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3571787402392083","authorId":"3571787402392083","name":"按捺","avatar":"https://static.tigerbbs.com/106bdd2ab7b0800d9949e20ea3819eac","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3571787402392083","idStr":"3571787402392083"},"content":"之所以大跌实际是因为前一天大涨庄家拉高出货 大资金已经流出市场 散户的资金流入市场","text":"之所以大跌实际是因为前一天大涨庄家拉高出货 大资金已经流出市场 散户的资金流入市场","html":"之所以大跌实际是因为前一天大涨庄家拉高出货 大资金已经流出市场 散户的资金流入市场"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":612781742,"gmtCreate":1652579611386,"gmtModify":1652579611386,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"疫情对中国不是挑战,否则不会清零;再说各国都有。空间大和余地大,但是成效没有,所以民众没有信心...。","listText":"疫情对中国不是挑战,否则不会清零;再说各国都有。空间大和余地大,但是成效没有,所以民众没有信心...。","text":"疫情对中国不是挑战,否则不会清零;再说各国都有。空间大和余地大,但是成效没有,所以民众没有信心...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/612781742","repostId":"2235056891","repostType":2,"isVote":1,"tweetType":1,"viewCount":4574,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":650152400,"gmtCreate":1678994390100,"gmtModify":1678994392000,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"“掀桌子”的本质是外企与国企的较量,面对国内的大市场,最终即便具有合资的背景,国企一样会被彻底击败,好日子到头了,消费者乐见国企败下阵来...。","listText":"“掀桌子”的本质是外企与国企的较量,面对国内的大市场,最终即便具有合资的背景,国企一样会被彻底击败,好日子到头了,消费者乐见国企败下阵来...。","text":"“掀桌子”的本质是外企与国企的较量,面对国内的大市场,最终即便具有合资的背景,国企一样会被彻底击败,好日子到头了,消费者乐见国企败下阵来...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/650152400","repostId":"2319355483","repostType":2,"repost":{"id":"2319355483","kind":"highlight","pubTimestamp":1678962368,"share":"https://www.laohu8.com/m/news/2319355483?lang=zh_CN&edition=full","pubTime":"2023-03-16 18:26","market":"hk","language":"zh","title":"合资车企大溃败","url":"https://stock-news.laohu8.com/highlight/detail?id=2319355483","media":"华尔街见闻","summary":"百年未有之大变局。","content":"<html><body><p><span>作者 | 周智宇</span></p>\n<p><span>编辑 | 张晓玲</span></p>\n<p>东风本田、东风雪铁龙、一汽丰田、上汽通用,这些曾经占据了中国汽车史半壁江山的合资车企,正在经历它们最艰难的日子。</p>\n<p>年初<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>挑起的价格战,引发埃安、问界、<a href=\"https://laohu8.com/S/002594\">比亚迪</a>下场,最终烧到了燃油车的主力领域:10万-20万的价格区间。再叠加国标切换的影响,几乎在一夜之间,<a href=\"https://laohu8.com/S/600006\">东风汽车</a>开启了史上最大的降价风暴。</p>\n<p>之后,超四十个汽车品牌接连跟进降价,在全国各地浩荡铺开。</p>\n<p>这背后,是以日系、德系合资车企为主的几大传统汽车集团,面对自主品牌和电动车的崛起,逐渐失势,只能走上以价换量的路。</p>\n<p>这场史无前例的降价,颠覆了车市现有的价格体系,也将加速车企淘汰赛的到来。</p>\n<p>这也是一场百年未有的产业大变局,从燃油车到电动车,从合资到自主,原有的产业格局被打散,比亚迪、蔚小理、华为问界、广汽埃安等车企的崛起,以及特斯拉这条鲶鱼,共同造就了新能源产业链的全新格局。</p>\n<p>对任何一家车企而言,如果没有跟上新能源的潮流,没有全力以赴电动化,没有技术和产品的革新,终将会被这场裹挟全球的变革淘汰。</p>\n<h2>降价潮</h2>\n<p>“到湖北抢车去。”</p>\n<p>3月1日开始的湖北东风汽车去库存“大甩卖”,降价幅度之大、波及范围之广,前所未有。</p>\n<p>东风雪铁龙C6共创版,官方指导价21.19万元,享受9万元政企补贴,加上保险、上牌等费用,实际落地价14.2万元;一汽丰田bZ4X也从19.98万元起售价,直降6万元,只卖13.98万元。</p>\n<p>就连宝马的经销商们也按捺不住,指导价为 35.39 万元的 BMW i3 eDrive 35 L 优惠了十多万,售价不到25万元。</p>\n<p>至此,从大众市场到高端市场,一场史无前例的车企价格战已经掀起。据华尔街见闻不完全统计,截至目前,已有特斯拉、比亚迪、埃安、问界、吉利、广汽丰田等四十多个汽车品牌卷入其中。</p>\n<p><strong>对价格战的起因,有业内人士认为,电动车的降价尤其是比亚迪的降价,打击了燃油车的主力市场,销售出现困难;其次,很多燃油车企的库存太高了。</strong></p>\n<p>中国汽车流通协会调查显示,2月中国汽车经销商库存高企,同比上升2.0个百分点,至58.1%。</p>\n<p>多位销售人士表示,从去年下半年起,燃油车就已经有各种优惠了,现在是加上了更多政府补贴,使得价格更低了。</p>\n<p>乘联会秘书长崔东树也指出,部分车企前期积压了许多库存,今年还未消化完毕,加上从今年7月1日开始中国执行国六B排放标准,之前国六A的车型也没法卖了。</p>\n<p>去库存叠加电动车的内卷,让这场价格战短期内很难结束。</p>\n<p>一位从业12年的汽车渠道商认为,接下来,4月很多车型都面临改款,6月又有年中冲量的压力,未来3-5个月里,燃油车降价潮会更加激烈。</p>\n<p>包括<a href=\"https://laohu8.com/S/002500\">山西证券</a>等在内的机构认为,汽车价格下行趋势或将延续到6月,下半年才有企稳的可能性。</p>\n<p><a href=\"https://laohu8.com/S/601633\">长城汽车</a>总裁穆峰则认为,价格战就是“掀桌子”,很多车企目前面临两难境地,降价伤害企业,不降伤害销量。他预计,随着车企经营压力、融资的问题被解决,价格战会在未来3-5个月里逐渐平息下来。</p>\n<h2>大洗牌</h2>\n<p><strong>史无前例的降价背后,是合资车企在进入中国市场几十年来,正面临严峻的生存问题。</strong></p>\n<p>本轮降价的主角,东风雪铁龙母公司神龙汽车,也曾有过辉煌。2015年,高达71万的销量,让它在中国市场有着一席之地。此后却开始下滑,去年神龙汽车全年销量仅12.7万辆;今年前两个月卖了1.07万辆,同比下滑48.19%。</p>\n<p>有着法国总统座驾光环的雪铁龙,在中国市场逐渐成为一个边缘品牌。三菱、马自达和现代等合资品牌,面临着和雪铁龙类似的境遇。</p>\n<p>长期占据中国汽车市场约一半的日系、德系合资车企,也遇到了困境。</p>\n<p>日系车企的标签是“性价比”,省油、耐用;但到了新能源汽车时代,这个优势被电动车打得落花流水。</p>\n<p>乘联会数据显示,包括丰田、本田和日产在内的日系主要车企,去年在华销量为409.2万辆,同比下降10.3%,下滑幅度仅好于去年卖了35.11万辆,同比下滑34.7%的韩系车企。</p>\n<p>今年2月,本田在中国销量7.41万辆,同比下降30.1%;日产同比减少10.6%,约6万辆;丰田销量虽同比仍在增长,但仅增0.9%,为12.96万辆。</p>\n<p>据乘联会统计,今年前两个月,TOP10的汽车集团中,上汽、一汽、东风等销售同比跌幅超30%,东风更是大降51.1%,近20年来罕见。</p>\n<p>2月销量TOP10的车企实现两位数正增长的,大多是比亚迪、<a href=\"https://laohu8.com/S/000625\">长安汽车</a>、<a href=\"https://laohu8.com/S/00175\">吉利汽车</a>等自主品牌,合计市场占有率超过25%。以往所向披靡的上汽大众、上汽通用、东风日产和一汽丰田等合资车企,则统统栽了跟头,市占率大幅下滑。</p>\n<p>在增速最快的新能源汽车领域,合资车企也表现欠佳。今年2月,新能源汽车国内零售渗透率为31.6%,环比提升近7个百分点,同比提升约10个百分点。其中,比亚迪、吉利等自主品牌新能源车零售份额提升至64%,合资品牌新能源车份额进一步下滑至4.4%,其余则是特斯拉和新势力们的地盘。</p>\n<p>让合资车企更焦虑的是,比亚迪、零跑等车企直接杀向了它们的腹地。</p>\n<p>2月上旬,比亚迪推出秦PLUS DM-i 2023冠军版,售价9.98万元起,直接杀入了传统合资车的优势地带;零跑在3月也直接宣布车型改款,将两款车型起售价从此前的20万元,下拉到了15万元。</p>\n<p>这种变相的降价,是自主品牌对合资品牌吹响围剿的冲锋号。</p>\n<p>这场史无前例的车市大降价背后,是新能源汽车正在加速替代传统燃油车,合资车企的新能源车型却尚未能够替代以往燃油车在车企当中的地位。中国汽车市场的大洗牌,已经来了。</p>\n<h2>何处去?</h2>\n<p>这场愈演愈烈的价格战表明,神龙汽车这样的合资厂已逼到墙角,燃油车销量持续下滑,新能源车尚没有眉目。以价换量,换取现金流成了不得已之选。</p>\n<p>只是降完价的合资车企,将往何处去?</p>\n<p><strong>生死存亡的危机里,留给合资厂的选择并不多。要么将低端产线卖掉,“轻资产化”;要么转型新能源,像广汽埃安那样,浴火重生;要么就转为代工,安心为他人做嫁衣,比如<a href=\"https://laohu8.com/S/601127\">赛力斯</a>、江淮。</strong></p>\n<p>以东风雪铁龙为例,在12万买C6、6万买C3的超常规优惠清库存后,今后这两款车型也难以用正常价格来销售了。</p>\n<p>有经销商表示,以往C6共创版也有优惠价,但整体比较稳定。二手车市场的售价也能在14万-15万元,但这次优惠后整个价格体系被打乱,市场上一大批二手车面临比新车还贵的尴尬境地。“这个车以后就只能12万见了”。</p>\n<p>过往也有车企会给出类似的优惠,给出骨折价的车型往往就此消失不见,也有的车企会把车改个款、换个名,但最后销售状况往往不如人意。</p>\n<p>事实上神龙早就在卖厂了。在辉煌时,神龙汽车曾有四个整车厂,三个在武汉,一个在成都,年规划产能高达111万辆。2020年,武汉一厂被<a href=\"https://laohu8.com/S/001979\">招商蛇口</a>与武汉城建组成的联合体拍走,改建成汽车主题公园;武汉二厂则被东风本田接手,成了新能源工厂;目前神龙整体规划产能36万辆,实际利用率却还不足三成。</p>\n<p>几个月前,Stellantis关掉了与广汽合资的广汽菲克,市场传闻,比亚迪、零跑要接盘广汽菲克长沙工厂。</p>\n<p>也有整车厂干脆代工。江淮一手抓江淮大众落地,一手则是压上重注,与<a href=\"https://laohu8.com/S/NIO\">蔚来</a>深刻绑定,帮其实现车型量产;赛力斯、<a href=\"https://laohu8.com/S/600733\">北汽蓝谷</a>以及<a href=\"https://laohu8.com/S/02333\">长城汽车</a>等通过与华为合作,落地了问界、极狐HI版以及阿维塔等车型。</p>\n<p>尤其是随着近期AITO问界改名华为问界,华为在生产、设计和研发环节都与赛力斯等整车厂之间关系更为密切,并已经吸引到奇瑞、江淮等整车厂加入它的生态圈。</p>\n<p>还有一些实力强劲的合资厂商如一汽奥迪、一汽大众正在全力转向新能源,对他们而言,过往积累的技术、产线、销售、品牌,仍然可以发挥作用,让他们顺利转化到电动车的赛道上。</p>\n<p>合资厂商的退与自主品牌的进,是中国汽车产业快速演进的真实写照。中国汽车产业的格局,也将发生巨大的改变。</p>\n<p>过去外资合资厂主导的中国汽车工业,随着中国本土品牌崛起,已然换了天地。产能更迭、产线更替之中,整个行业的格局也随之重塑。</p>\n<h2><strong><a href=\"https://laohu8.com/S/600628\">新世界</a></strong></h2>\n<p>过去两年中<a href=\"https://laohu8.com/S/600617\">国新能源</a>汽车超预期的发展,把步履蹒跚的合资品牌们打了个措手不及。</p>\n<p>特斯拉的降价,则按下了这场淘汰赛的加速键,市场加速了洗牌。一个属于新能源汽车的新世界,已经来了。</p>\n<p>拉长了时间来看,中国乘用车市场在2017年达到峰值后,已经进入一个饱和阶段,大概维持在每年2000多万辆的水平。过去几年,燃油车已经很少能推出让消费者惊艳的产品,只是通过车型的更新换代,来维持产业的规模。</p>\n<p>而那时,新能源车售价高,主要是规模小,尚未形成替代效应。整车厂们的精力也主要在秀科技、堆硬件上,大家似乎相安无事。</p>\n<p>但平静终于被打破了。就在过去两年,随着新能源汽车从300万辆到600多万辆,规模大爆发、大跃进,今年更是在向850万辆突进,实际上形成了对燃油车的替代和毁灭性打击,一个百年未有之大变局也快速到来。</p>\n<p>赢得先机的整车厂成本和价格都在不断下降,比如特斯拉和比亚迪,产品也进一步来到了大众消费区间。以往在车型、续航等方面被诟病的新能源汽车,随着Model3、比亚迪汉等产品上市,愈发受到消费者的青睐。</p>\n<p>新能源汽车的用户,也从此前高价赶时髦的少数尝鲜者,逐渐转向对产品定价更为敏感,讲究性价比的大众消费者。</p>\n<p>新能源汽车也沿着21世纪初燃油车在中国发展的路径,从无到有,市场慢慢扩大,加速发展,再走向成熟。</p>\n<p>这个市场正在进入一个兼并整合、赢家通吃的阶段,混动领域比亚迪一枝独秀,纯电领域特斯拉、比亚迪也占据绝大部分市场。尤其是随着特斯拉为了增加销量,正计划推出20万以内的产品,接下来的淘汰赛、价格战只会愈发激烈。</p>\n<p>目前,除了特斯拉、比亚迪和埃安等少数玩家,蔚小理们尚未跨过30万辆的生死线;玩家们都在进行一场豪赌,赌在2025年之前,包括电池在内的材料会进一步下降,以及现金流足以支撑他们实现规模跃升,从而甩脱如今不盈利的困境。</p>\n<p><strong>这也意味着,未来两年,规模依旧是场内玩家们争夺的第一要素。唯有规模效应降低成本,提供足够有竞争力的产品,才能从这场淘汰赛中活下去。</strong></p>\n<p>在燃油车时代,全球几个汽车生产国中,都随着市场竞争,遵循着品牌由多变少,最后集团化或者联盟化的趋势。欧、美、日,各自大多就剩下了三家大型汽车集团,留给其他玩家的生存空间甚少。</p>\n<p>新能源汽车也将遵循这样的产业路径,从这场竞赛中存活下来的玩家也只会是极少数。就像小米董事长雷军所认为的那样,最终主力玩家不会超过5家。</p>\n<p>这也正是比亚迪王传福、吉利李书福、华为余承东等人所执着的,必须要做到全球第一、前三的理由。</p>\n<p>在这个春天,由特斯拉、比亚迪、东风开启的降价潮,揭示了汽车产业淘汰赛的残酷;而希望则在于,中国有望成为未来汽车新世界蓝图的描绘者,改写全球百年汽车工业史,重构世界新能源和人工智能产业的格局。</p><div>风险提示及免责条款</div>\n<div>\n 市场有风险,投资需谨慎。本文不构成个人投资建议,也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资,责任自负。\n </div>\n</body></html>","source":"wallstreetcn_api","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>合资车企大溃败</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{ 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0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n合资车企大溃败\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-16 18:26 北京时间 <a href=https://wallstreetcn.com/articles/3684206><strong>华尔街见闻</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>作者 | 周智宇\n编辑 | 张晓玲\n东风本田、东风雪铁龙、一汽丰田、上汽通用,这些曾经占据了中国汽车史半壁江山的合资车企,正在经历它们最艰难的日子。\n年初特斯拉挑起的价格战,引发埃安、问界、比亚迪下场,最终烧到了燃油车的主力领域:10万-20万的价格区间。再叠加国标切换的影响,几乎在一夜之间,东风汽车开启了史上最大的降价风暴。\n之后,超四十个汽车品牌接连跟进降价,在全国各地浩荡铺开。\n这背后,是以...</p>\n\n<a href=\"https://wallstreetcn.com/articles/3684206\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://wpimg-wscn.awtmt.com/3e606bdb-0f6a-4eca-b9dc-0c5ec43cacaf.jpeg?imageView2/1/w/340/h/340","relate_stocks":{"LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0823414478.USD":"法巴经典能源转换基金","LU0056508442.USD":"贝莱德世界科技基金A2","SG9999006514.SGD":"United Asia Consumer Fund SGD","BK1582":"深圳本地概念股","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH 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SGD","BK4588":"碎股","01211":"比亚迪股份","BK4550":"红杉资本持仓","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK1540":"电池","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4548":"巴美列捷福持仓","BK4574":"无人驾驶","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU0820561909.HKD":"ALLIANZ INCOME AND GROWTH \"AM\" (HKD) INC","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","LU1548497426.USD":"安联环球人工智能AT Acc","LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU0823411888.USD":"法巴消费创新基金 Cap"},"source_url":"https://wallstreetcn.com/articles/3684206","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2319355483","content_text":"作者 | 周智宇\n编辑 | 张晓玲\n东风本田、东风雪铁龙、一汽丰田、上汽通用,这些曾经占据了中国汽车史半壁江山的合资车企,正在经历它们最艰难的日子。\n年初特斯拉挑起的价格战,引发埃安、问界、比亚迪下场,最终烧到了燃油车的主力领域:10万-20万的价格区间。再叠加国标切换的影响,几乎在一夜之间,东风汽车开启了史上最大的降价风暴。\n之后,超四十个汽车品牌接连跟进降价,在全国各地浩荡铺开。\n这背后,是以日系、德系合资车企为主的几大传统汽车集团,面对自主品牌和电动车的崛起,逐渐失势,只能走上以价换量的路。\n这场史无前例的降价,颠覆了车市现有的价格体系,也将加速车企淘汰赛的到来。\n这也是一场百年未有的产业大变局,从燃油车到电动车,从合资到自主,原有的产业格局被打散,比亚迪、蔚小理、华为问界、广汽埃安等车企的崛起,以及特斯拉这条鲶鱼,共同造就了新能源产业链的全新格局。\n对任何一家车企而言,如果没有跟上新能源的潮流,没有全力以赴电动化,没有技术和产品的革新,终将会被这场裹挟全球的变革淘汰。\n降价潮\n“到湖北抢车去。”\n3月1日开始的湖北东风汽车去库存“大甩卖”,降价幅度之大、波及范围之广,前所未有。\n东风雪铁龙C6共创版,官方指导价21.19万元,享受9万元政企补贴,加上保险、上牌等费用,实际落地价14.2万元;一汽丰田bZ4X也从19.98万元起售价,直降6万元,只卖13.98万元。\n就连宝马的经销商们也按捺不住,指导价为 35.39 万元的 BMW i3 eDrive 35 L 优惠了十多万,售价不到25万元。\n至此,从大众市场到高端市场,一场史无前例的车企价格战已经掀起。据华尔街见闻不完全统计,截至目前,已有特斯拉、比亚迪、埃安、问界、吉利、广汽丰田等四十多个汽车品牌卷入其中。\n对价格战的起因,有业内人士认为,电动车的降价尤其是比亚迪的降价,打击了燃油车的主力市场,销售出现困难;其次,很多燃油车企的库存太高了。\n中国汽车流通协会调查显示,2月中国汽车经销商库存高企,同比上升2.0个百分点,至58.1%。\n多位销售人士表示,从去年下半年起,燃油车就已经有各种优惠了,现在是加上了更多政府补贴,使得价格更低了。\n乘联会秘书长崔东树也指出,部分车企前期积压了许多库存,今年还未消化完毕,加上从今年7月1日开始中国执行国六B排放标准,之前国六A的车型也没法卖了。\n去库存叠加电动车的内卷,让这场价格战短期内很难结束。\n一位从业12年的汽车渠道商认为,接下来,4月很多车型都面临改款,6月又有年中冲量的压力,未来3-5个月里,燃油车降价潮会更加激烈。\n包括山西证券等在内的机构认为,汽车价格下行趋势或将延续到6月,下半年才有企稳的可能性。\n长城汽车总裁穆峰则认为,价格战就是“掀桌子”,很多车企目前面临两难境地,降价伤害企业,不降伤害销量。他预计,随着车企经营压力、融资的问题被解决,价格战会在未来3-5个月里逐渐平息下来。\n大洗牌\n史无前例的降价背后,是合资车企在进入中国市场几十年来,正面临严峻的生存问题。\n本轮降价的主角,东风雪铁龙母公司神龙汽车,也曾有过辉煌。2015年,高达71万的销量,让它在中国市场有着一席之地。此后却开始下滑,去年神龙汽车全年销量仅12.7万辆;今年前两个月卖了1.07万辆,同比下滑48.19%。\n有着法国总统座驾光环的雪铁龙,在中国市场逐渐成为一个边缘品牌。三菱、马自达和现代等合资品牌,面临着和雪铁龙类似的境遇。\n长期占据中国汽车市场约一半的日系、德系合资车企,也遇到了困境。\n日系车企的标签是“性价比”,省油、耐用;但到了新能源汽车时代,这个优势被电动车打得落花流水。\n乘联会数据显示,包括丰田、本田和日产在内的日系主要车企,去年在华销量为409.2万辆,同比下降10.3%,下滑幅度仅好于去年卖了35.11万辆,同比下滑34.7%的韩系车企。\n今年2月,本田在中国销量7.41万辆,同比下降30.1%;日产同比减少10.6%,约6万辆;丰田销量虽同比仍在增长,但仅增0.9%,为12.96万辆。\n据乘联会统计,今年前两个月,TOP10的汽车集团中,上汽、一汽、东风等销售同比跌幅超30%,东风更是大降51.1%,近20年来罕见。\n2月销量TOP10的车企实现两位数正增长的,大多是比亚迪、长安汽车、吉利汽车等自主品牌,合计市场占有率超过25%。以往所向披靡的上汽大众、上汽通用、东风日产和一汽丰田等合资车企,则统统栽了跟头,市占率大幅下滑。\n在增速最快的新能源汽车领域,合资车企也表现欠佳。今年2月,新能源汽车国内零售渗透率为31.6%,环比提升近7个百分点,同比提升约10个百分点。其中,比亚迪、吉利等自主品牌新能源车零售份额提升至64%,合资品牌新能源车份额进一步下滑至4.4%,其余则是特斯拉和新势力们的地盘。\n让合资车企更焦虑的是,比亚迪、零跑等车企直接杀向了它们的腹地。\n2月上旬,比亚迪推出秦PLUS DM-i 2023冠军版,售价9.98万元起,直接杀入了传统合资车的优势地带;零跑在3月也直接宣布车型改款,将两款车型起售价从此前的20万元,下拉到了15万元。\n这种变相的降价,是自主品牌对合资品牌吹响围剿的冲锋号。\n这场史无前例的车市大降价背后,是新能源汽车正在加速替代传统燃油车,合资车企的新能源车型却尚未能够替代以往燃油车在车企当中的地位。中国汽车市场的大洗牌,已经来了。\n何处去?\n这场愈演愈烈的价格战表明,神龙汽车这样的合资厂已逼到墙角,燃油车销量持续下滑,新能源车尚没有眉目。以价换量,换取现金流成了不得已之选。\n只是降完价的合资车企,将往何处去?\n生死存亡的危机里,留给合资厂的选择并不多。要么将低端产线卖掉,“轻资产化”;要么转型新能源,像广汽埃安那样,浴火重生;要么就转为代工,安心为他人做嫁衣,比如赛力斯、江淮。\n以东风雪铁龙为例,在12万买C6、6万买C3的超常规优惠清库存后,今后这两款车型也难以用正常价格来销售了。\n有经销商表示,以往C6共创版也有优惠价,但整体比较稳定。二手车市场的售价也能在14万-15万元,但这次优惠后整个价格体系被打乱,市场上一大批二手车面临比新车还贵的尴尬境地。“这个车以后就只能12万见了”。\n过往也有车企会给出类似的优惠,给出骨折价的车型往往就此消失不见,也有的车企会把车改个款、换个名,但最后销售状况往往不如人意。\n事实上神龙早就在卖厂了。在辉煌时,神龙汽车曾有四个整车厂,三个在武汉,一个在成都,年规划产能高达111万辆。2020年,武汉一厂被招商蛇口与武汉城建组成的联合体拍走,改建成汽车主题公园;武汉二厂则被东风本田接手,成了新能源工厂;目前神龙整体规划产能36万辆,实际利用率却还不足三成。\n几个月前,Stellantis关掉了与广汽合资的广汽菲克,市场传闻,比亚迪、零跑要接盘广汽菲克长沙工厂。\n也有整车厂干脆代工。江淮一手抓江淮大众落地,一手则是压上重注,与蔚来深刻绑定,帮其实现车型量产;赛力斯、北汽蓝谷以及长城汽车等通过与华为合作,落地了问界、极狐HI版以及阿维塔等车型。\n尤其是随着近期AITO问界改名华为问界,华为在生产、设计和研发环节都与赛力斯等整车厂之间关系更为密切,并已经吸引到奇瑞、江淮等整车厂加入它的生态圈。\n还有一些实力强劲的合资厂商如一汽奥迪、一汽大众正在全力转向新能源,对他们而言,过往积累的技术、产线、销售、品牌,仍然可以发挥作用,让他们顺利转化到电动车的赛道上。\n合资厂商的退与自主品牌的进,是中国汽车产业快速演进的真实写照。中国汽车产业的格局,也将发生巨大的改变。\n过去外资合资厂主导的中国汽车工业,随着中国本土品牌崛起,已然换了天地。产能更迭、产线更替之中,整个行业的格局也随之重塑。\n新世界\n过去两年中国新能源汽车超预期的发展,把步履蹒跚的合资品牌们打了个措手不及。\n特斯拉的降价,则按下了这场淘汰赛的加速键,市场加速了洗牌。一个属于新能源汽车的新世界,已经来了。\n拉长了时间来看,中国乘用车市场在2017年达到峰值后,已经进入一个饱和阶段,大概维持在每年2000多万辆的水平。过去几年,燃油车已经很少能推出让消费者惊艳的产品,只是通过车型的更新换代,来维持产业的规模。\n而那时,新能源车售价高,主要是规模小,尚未形成替代效应。整车厂们的精力也主要在秀科技、堆硬件上,大家似乎相安无事。\n但平静终于被打破了。就在过去两年,随着新能源汽车从300万辆到600多万辆,规模大爆发、大跃进,今年更是在向850万辆突进,实际上形成了对燃油车的替代和毁灭性打击,一个百年未有之大变局也快速到来。\n赢得先机的整车厂成本和价格都在不断下降,比如特斯拉和比亚迪,产品也进一步来到了大众消费区间。以往在车型、续航等方面被诟病的新能源汽车,随着Model3、比亚迪汉等产品上市,愈发受到消费者的青睐。\n新能源汽车的用户,也从此前高价赶时髦的少数尝鲜者,逐渐转向对产品定价更为敏感,讲究性价比的大众消费者。\n新能源汽车也沿着21世纪初燃油车在中国发展的路径,从无到有,市场慢慢扩大,加速发展,再走向成熟。\n这个市场正在进入一个兼并整合、赢家通吃的阶段,混动领域比亚迪一枝独秀,纯电领域特斯拉、比亚迪也占据绝大部分市场。尤其是随着特斯拉为了增加销量,正计划推出20万以内的产品,接下来的淘汰赛、价格战只会愈发激烈。\n目前,除了特斯拉、比亚迪和埃安等少数玩家,蔚小理们尚未跨过30万辆的生死线;玩家们都在进行一场豪赌,赌在2025年之前,包括电池在内的材料会进一步下降,以及现金流足以支撑他们实现规模跃升,从而甩脱如今不盈利的困境。\n这也意味着,未来两年,规模依旧是场内玩家们争夺的第一要素。唯有规模效应降低成本,提供足够有竞争力的产品,才能从这场淘汰赛中活下去。\n在燃油车时代,全球几个汽车生产国中,都随着市场竞争,遵循着品牌由多变少,最后集团化或者联盟化的趋势。欧、美、日,各自大多就剩下了三家大型汽车集团,留给其他玩家的生存空间甚少。\n新能源汽车也将遵循这样的产业路径,从这场竞赛中存活下来的玩家也只会是极少数。就像小米董事长雷军所认为的那样,最终主力玩家不会超过5家。\n这也正是比亚迪王传福、吉利李书福、华为余承东等人所执着的,必须要做到全球第一、前三的理由。\n在这个春天,由特斯拉、比亚迪、东风开启的降价潮,揭示了汽车产业淘汰赛的残酷;而希望则在于,中国有望成为未来汽车新世界蓝图的描绘者,改写全球百年汽车工业史,重构世界新能源和人工智能产业的格局。风险提示及免责条款\n\n 市场有风险,投资需谨慎。本文不构成个人投资建议,也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资,责任自负。","news_type":1,"symbols_score_info":{"01211":0.9,"00285":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":5351,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":339657564,"gmtCreate":1608838911058,"gmtModify":1703737134165,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"假如没有马云的过激“言辞”,后面这些事情会发生吗?这给人们产生了哪些启示和思考才是最重要的...。","listText":"假如没有马云的过激“言辞”,后面这些事情会发生吗?这给人们产生了哪些启示和思考才是最重要的...。","text":"假如没有马云的过激“言辞”,后面这些事情会发生吗?这给人们产生了哪些启示和思考才是最重要的...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/339657564","repostId":"2093565538","repostType":2,"isVote":1,"tweetType":1,"viewCount":6112,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3541015803020623","authorId":"3541015803020623","name":"辉_0738","avatar":"https://static.tigerbbs.com/318ccac02563405df5e91442695a43e3","crmLevel":2,"crmLevelSwitch":1,"authorIdStr":"3541015803020623","idStr":"3541015803020623"},"content":"难怪美股会打压中概股,国内人都搞自己人的企业,美国政府当然不会示弱,建议把中概股全部逐出纳斯达克。","text":"难怪美股会打压中概股,国内人都搞自己人的企业,美国政府当然不会示弱,建议把中概股全部逐出纳斯达克。","html":"难怪美股会打压中概股,国内人都搞自己人的企业,美国政府当然不会示弱,建议把中概股全部逐出纳斯达克。"},{"author":{"id":"3535448227310483","authorId":"3535448227310483","name":"坐上火车去会所","avatar":"https://static.tigerbbs.com/8c4dd070e80f95e005e8363d28188654","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3535448227310483","idStr":"3535448227310483"},"content":"买拼多多 什么垄断 都是买拼多多的借口而已哈哈哈","text":"买拼多多 什么垄断 都是买拼多多的借口而已哈哈哈","html":"买拼多多 什么垄断 都是买拼多多的借口而已哈哈哈"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":614823013,"gmtCreate":1653490877637,"gmtModify":1653490877637,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"桥水创始人和基辛格先生要么糊涂了,要么心怀他意,听他们现在说的话,感觉有点格格不入,有时还会感到不可理喻...。","listText":"桥水创始人和基辛格先生要么糊涂了,要么心怀他意,听他们现在说的话,感觉有点格格不入,有时还会感到不可理喻...。","text":"桥水创始人和基辛格先生要么糊涂了,要么心怀他意,听他们现在说的话,感觉有点格格不入,有时还会感到不可理喻...。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/614823013","repostId":"2238560273","repostType":2,"isVote":1,"tweetType":1,"viewCount":3627,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":378853695,"gmtCreate":1619017235717,"gmtModify":1619017235717,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"支持特斯拉!","listText":"支持特斯拉!","text":"支持特斯拉!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/378853695","repostId":"2129877342","repostType":2,"repost":{"id":"2129877342","kind":"news","pubTimestamp":1619016172,"share":"https://www.laohu8.com/m/news/2129877342?lang=zh_CN&edition=full","pubTime":"2021-04-21 22:42","market":"us","language":"zh","title":"风暴眼中的陶琳:特斯拉应对质疑的最佳方式就是做好产品","url":"https://stock-news.laohu8.com/highlight/detail?id=2129877342","media":"盖世汽车资讯","summary":"面对这场突如其来的维权风暴,特斯拉副总裁陶琳犹如身处风暴中最为平静的风暴眼,依旧在事件发生后的一小时保持着冷静、客观的态度,与我们去讨论与特斯拉、中国市场、供应链相关的话题,在她看来,“特斯拉应对质疑的最佳方式就是做好产品。”面对车展媒体日首日便遇到意外事件,陶琳并不感到意外,毕竟特斯拉的发展历程就是不断被质疑的历程,应对这些质疑的最好方式就是做好产品,以证明品牌最初选择的方向是正确的。","content":"<html><body><article><p>4月19日对于<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>来讲不是一个幸运日。一位河南女车主出人意料地突破层层安保,大闹上海车展特斯拉展台,成为当天刷爆朋友圈的闹剧。尽管展台招致好事者围观,舆论上也再次被过度维权推上风口浪尖。面对这场突如其来的维权风暴,特斯拉副总裁陶琳犹如身处风暴中最为平静的风暴眼,依旧在事件发生后的一小时保持着冷静、客观的态度,与我们去讨论与特斯拉、中国市场、供应链相关的话题,在她看来,“特斯拉应对质疑的最佳方式就是做好产品。”</p><img src=\"http://inews.gtimg.com/newsapp_match/0/13439441733/0\"/><p>特斯拉公司副总裁 陶琳女士(图片来源:特斯拉)</p><p><strong>把精力花在营销宣传上不是特斯拉最优的选择</strong></p><p>从特斯拉7年前首次在华交付开始,这个品牌经历了相当长一段被神化的时间。无论是高调的马斯克,还是具备前瞻性的产品,绝大多数时间里都处于媒体与公众倍加推崇的高光时刻。但中国有句老话“木秀于林,风必摧之”,说得再通俗一些,那就是“枪打出头鸟”。随着在华销量激增,随着产品线越来越丰富,从百万级别市场开始抢食二三十万元价格区间的市场份额,特斯拉逐渐被妖魔化,许多看上去合理或不合理的负面新闻开始在坊间传播。按照车企的常规操作,特斯拉应该拿出一大笔公关费用去“洗白”自己或是去营造正面声量,但是特斯拉选择了另一种方式,用陶琳的话来说就是:“我们觉得不可能把精力花在这些事情上面,这不是最优的选择。”</p><p>神化特斯拉与妖魔化特斯拉的背后,其实是重合度非常高的一群人。陶琳坦言,特斯拉在营销宣传上投入的资源与其他车企相比是比较少的,所以难免会有外部环境不够友好的感觉。至于发生上海车展上这样的事情,陶琳认为背后的原因很复杂,不会只是简简单单个人的事情,可能会有各种各样的因素,甚至会是一些与竞争有关的原因。但无论其原因如何,陶琳依旧坚持不会在营销宣传方面倾注过多资源。</p><img src=\"http://inews.gtimg.com/newsapp_match/0/13439441734/0\"/><p>特斯拉在中国销量最好的车型Model 3,也是此次车展风波的当事车辆(图片来源:特斯拉)</p><p>不在营销宣传上投入过多资源,并不等于特斯拉不看重用户对于品牌和产品的认知。陶琳眼中那些在网络上参与到特斯拉负面新闻讨论中的个体,很可能并不一定真的开过特斯拉的产品,也可能没有接触过<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>网联汽车,只是被自己在不同渠道接触到的信息所影响。但她坚信,随着新能源汽车的消费群体越来越大,很多曾经间接形成的错误认知会转变成为客观的认知。这一信心来自于特斯拉的客户转化数据:从一个陌生客户进店,经过试驾体验之后对特斯拉产品形成认可的比例已经超过60%。陶琳和自己的同事们一样坚信即便用户是出于负面新闻的影响产生了来看一看的想法,特斯拉的产品依旧有能力让他们黑转路、路转粉,毕竟好的产品自己会说话。面对车展媒体日首日便遇到意外事件,陶琳并不感到意外,毕竟特斯拉的发展历程就是不断被质疑的历程,应对这些质疑的最好方式就是做好产品,以证明品牌最初选择的方向是正确的。</p><p><strong>新能源车企之间不存在竞争,都在做教育市场的工作</strong></p><p>特斯拉不与友商们在市场上去比营销与广告的投入,却也有着默默去对比的方向。陶琳认为,在中<a href=\"https://laohu8.com/S/600617\">国新能源</a>汽车市场的高速发展中,友商之间要比的是如何让自己的产品适合市场的需求,比的是企业的一把手对底层技术逻辑的判断和对市场的判断,以及对消费者真正需求的判断。而这也正是特斯拉信心满满之处,因为过去的若干年间,特斯拉一直在尽全部的努力把所有的资源都用在做好这一件事上。</p><p>做好这样一件事,特斯拉在中国用了7年的时间。</p><p>7年里,特斯拉在中国的用户已经从最早一批交付的极客们变成了普通消费者,它的产品也已经成为很多家庭购车的正常需求,从小众人群的需求真正地进入到大众消费者购车时的考虑范围,这既是中国新能源汽车用户群体的变化,也是陶琳眼中特斯拉在华7年取得的最大成功。7年前,第一批特斯拉车主热衷于和朋友分享一脚电门踩到底到来的推背感,7年后,越来越多的特斯拉车主乐于分享的则是与智能操作系统和FSD带来的便捷,这是特斯拉产品的成功,也是社会进步的一个方向。站在当下,很多新能源汽车消费者不再是从燃油车转化而来的用户,而是将自己人生中第一次购车的目标锁定了特斯拉或是其他新能源品牌,这是特斯拉的成功,也是中国所有新能源汽车品牌的成功。</p><p>7年间,特斯拉的在华销量以狂飙的姿态在攀升,但陶琳却觉得当下的新能源车市场相较于燃油车而言依旧是一个非常小的市场。在她看来,新能源车企之间不存在竞争对手的概念,大家都在做教育市场的工作,都在帮助消费者接受这种新的出行工具。她相信中国的新能源汽车市场容量会飞速增长,而不是市场总量不变友商之间的销量只是此消彼长的状态,只要产品是过硬的且能满足某一个细分市场的需求,销量就会随着市场容量的增长而增长。只有越来越多的企业进入新能源汽车这个领域,才会证明特斯拉当初的选择是正确的。</p><p>7年前,特斯拉认为电动车和智能汽车会是未来的发展方向,并没有得到太多人的认可。时至今日,越来越的企业认可了车不仅仅是一个交通工具,更应该是一个智能终端,市场最终认可了特斯拉对于技术路线的判断。很多新能源车企在推出新车时都会提出对标特斯拉,甚至声称自己要做“特斯拉杀手”,陶琳相信市场也会在未来证明特斯拉与其他新能源车企之间可以共同成长。</p><p><strong>电动车已经完全可以代替燃油车,目前缺的只是产能和好的供应链</strong></p><p>和每一个特斯拉员工一样,陶琳对于电动车的未来充满信心,尤其是对特斯拉的产品与技术充满信心。她坚定地认为:“从产品本身来讲,今天的特斯拉已经可以从各个方面替代燃油车,而且性价比可能更好。目前欠缺的只是产能和好的供应链,以及完善的配套产品。”</p><img src=\"http://inews.gtimg.com/newsapp_match/0/11677898911/0\"/><p>上海超级工厂电池模组&电池包生产线 (图片来源:特斯拉)</p><p>特斯拉在去年四季度财报中提到,上海超级工厂的年产能有能力维持在25万辆以上。目前Model 3的产能已经处于满负荷状态,但陶琳认为上海工厂的产能还有很大提升空间。如果使用公开数据进行推算,将上海超级工厂的面积、产能与产量进行运算,再与其他车企的工厂单位面积与产能进行对比,就会发现特斯拉的利用率已经极高。特斯拉采取的方案是从底层逻辑提升效率,所以其产能也超过了传统认知中工厂产能的上限。至于传说中的第二工厂,会出现在特斯拉的在华业务规划之中,但陶琳否认了此前外媒关于已经选址重庆的报道。</p><p>有趣的是,特斯拉并不会将自己的上海超级工厂宣传为智能工厂。在陶琳眼中,智能的目的归根结底是为了提升效率,而上海超级工厂的智能化程度已经非常高了。生产制造的流程应该是越简洁越好,而不是人为地将其复杂化,陶琳对有些工厂为了智能化而去增加很多打着智能化标签的流程很是不以为然,认为这反而降低了工厂的效率,使其本末倒置。在特斯拉的定义中,智能只是为了实现更高的效率,而非只是成为宣传的一个噱头。</p><p>根据陶琳的介绍,目前特斯拉上海超级工厂除满足中国本土销售需求之外,还承载了特斯拉全世界范围内绝大部分Model 3的生产,已经在向欧洲、日本等地出口,下一个目标会是东南亚的几个国家。</p><p>至于特斯拉供应链的本土化问题,去年曾有关于“2020年底实现100%国产化”的误读,在被问及Model 3与Model Y当下的国产化程度时,陶琳表示前者的国产化比例已经超过85%,后者的国产化比例也在逐渐上升。特斯拉在中国有着本土化程度非常高的供应链体系,目前除芯片等关键部件之外,已经都实现了本土化的进程。在未来,如果本土供应链能够继续发力,或许陶琳就不会再有电动车代替燃油车只缺好的供应链的感慨了。</p><p><strong>写在最后</strong></p><p>这次上海车展对于特斯拉和陶琳而言会是一次不愉快且难忘的记忆,但是我们也有机会看到,或许外部环境会有各种压力,但特斯拉依旧在向既定的方向坚定前行。舆论风暴终将过去,风暴眼中的陶琳依旧会以做好产品的形式应对外界的质疑。</p></article></body></html>","source":"tencent","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>风暴眼中的陶琳:特斯拉应对质疑的最佳方式就是做好产品</title>\n<style 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margin: 0;line-height: 11px;}\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\">\n风暴眼中的陶琳:特斯拉应对质疑的最佳方式就是做好产品\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-21 22:42 北京时间 <a href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202104212246547b72573d&s=b><strong>盖世汽车资讯</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>4月19日对于特斯拉来讲不是一个幸运日。一位河南女车主出人意料地突破层层安保,大闹上海车展特斯拉展台,成为当天刷爆朋友圈的闹剧。尽管展台招致好事者围观,舆论上也再次被过度维权推上风口浪尖。面对这场突如其来的维权风暴,特斯拉副总裁陶琳犹如身处风暴中最为平静的风暴眼,依旧在事件发生后的一小时保持着冷静、客观的态度,与我们去讨论与特斯拉、中国市场、供应链相关的话题,在她看来,“特斯拉应对质疑的最佳方式...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202104212246547b72573d&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/470c7cb7483c270761f6679ffa0ee057","relate_stocks":{"TSLA":"特斯拉"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202104212246547b72573d&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2129877342","content_text":"4月19日对于特斯拉来讲不是一个幸运日。一位河南女车主出人意料地突破层层安保,大闹上海车展特斯拉展台,成为当天刷爆朋友圈的闹剧。尽管展台招致好事者围观,舆论上也再次被过度维权推上风口浪尖。面对这场突如其来的维权风暴,特斯拉副总裁陶琳犹如身处风暴中最为平静的风暴眼,依旧在事件发生后的一小时保持着冷静、客观的态度,与我们去讨论与特斯拉、中国市场、供应链相关的话题,在她看来,“特斯拉应对质疑的最佳方式就是做好产品。”特斯拉公司副总裁 陶琳女士(图片来源:特斯拉)把精力花在营销宣传上不是特斯拉最优的选择从特斯拉7年前首次在华交付开始,这个品牌经历了相当长一段被神化的时间。无论是高调的马斯克,还是具备前瞻性的产品,绝大多数时间里都处于媒体与公众倍加推崇的高光时刻。但中国有句老话“木秀于林,风必摧之”,说得再通俗一些,那就是“枪打出头鸟”。随着在华销量激增,随着产品线越来越丰富,从百万级别市场开始抢食二三十万元价格区间的市场份额,特斯拉逐渐被妖魔化,许多看上去合理或不合理的负面新闻开始在坊间传播。按照车企的常规操作,特斯拉应该拿出一大笔公关费用去“洗白”自己或是去营造正面声量,但是特斯拉选择了另一种方式,用陶琳的话来说就是:“我们觉得不可能把精力花在这些事情上面,这不是最优的选择。”神化特斯拉与妖魔化特斯拉的背后,其实是重合度非常高的一群人。陶琳坦言,特斯拉在营销宣传上投入的资源与其他车企相比是比较少的,所以难免会有外部环境不够友好的感觉。至于发生上海车展上这样的事情,陶琳认为背后的原因很复杂,不会只是简简单单个人的事情,可能会有各种各样的因素,甚至会是一些与竞争有关的原因。但无论其原因如何,陶琳依旧坚持不会在营销宣传方面倾注过多资源。特斯拉在中国销量最好的车型Model 3,也是此次车展风波的当事车辆(图片来源:特斯拉)不在营销宣传上投入过多资源,并不等于特斯拉不看重用户对于品牌和产品的认知。陶琳眼中那些在网络上参与到特斯拉负面新闻讨论中的个体,很可能并不一定真的开过特斯拉的产品,也可能没有接触过智能网联汽车,只是被自己在不同渠道接触到的信息所影响。但她坚信,随着新能源汽车的消费群体越来越大,很多曾经间接形成的错误认知会转变成为客观的认知。这一信心来自于特斯拉的客户转化数据:从一个陌生客户进店,经过试驾体验之后对特斯拉产品形成认可的比例已经超过60%。陶琳和自己的同事们一样坚信即便用户是出于负面新闻的影响产生了来看一看的想法,特斯拉的产品依旧有能力让他们黑转路、路转粉,毕竟好的产品自己会说话。面对车展媒体日首日便遇到意外事件,陶琳并不感到意外,毕竟特斯拉的发展历程就是不断被质疑的历程,应对这些质疑的最好方式就是做好产品,以证明品牌最初选择的方向是正确的。新能源车企之间不存在竞争,都在做教育市场的工作特斯拉不与友商们在市场上去比营销与广告的投入,却也有着默默去对比的方向。陶琳认为,在中国新能源汽车市场的高速发展中,友商之间要比的是如何让自己的产品适合市场的需求,比的是企业的一把手对底层技术逻辑的判断和对市场的判断,以及对消费者真正需求的判断。而这也正是特斯拉信心满满之处,因为过去的若干年间,特斯拉一直在尽全部的努力把所有的资源都用在做好这一件事上。做好这样一件事,特斯拉在中国用了7年的时间。7年里,特斯拉在中国的用户已经从最早一批交付的极客们变成了普通消费者,它的产品也已经成为很多家庭购车的正常需求,从小众人群的需求真正地进入到大众消费者购车时的考虑范围,这既是中国新能源汽车用户群体的变化,也是陶琳眼中特斯拉在华7年取得的最大成功。7年前,第一批特斯拉车主热衷于和朋友分享一脚电门踩到底到来的推背感,7年后,越来越多的特斯拉车主乐于分享的则是与智能操作系统和FSD带来的便捷,这是特斯拉产品的成功,也是社会进步的一个方向。站在当下,很多新能源汽车消费者不再是从燃油车转化而来的用户,而是将自己人生中第一次购车的目标锁定了特斯拉或是其他新能源品牌,这是特斯拉的成功,也是中国所有新能源汽车品牌的成功。7年间,特斯拉的在华销量以狂飙的姿态在攀升,但陶琳却觉得当下的新能源车市场相较于燃油车而言依旧是一个非常小的市场。在她看来,新能源车企之间不存在竞争对手的概念,大家都在做教育市场的工作,都在帮助消费者接受这种新的出行工具。她相信中国的新能源汽车市场容量会飞速增长,而不是市场总量不变友商之间的销量只是此消彼长的状态,只要产品是过硬的且能满足某一个细分市场的需求,销量就会随着市场容量的增长而增长。只有越来越多的企业进入新能源汽车这个领域,才会证明特斯拉当初的选择是正确的。7年前,特斯拉认为电动车和智能汽车会是未来的发展方向,并没有得到太多人的认可。时至今日,越来越的企业认可了车不仅仅是一个交通工具,更应该是一个智能终端,市场最终认可了特斯拉对于技术路线的判断。很多新能源车企在推出新车时都会提出对标特斯拉,甚至声称自己要做“特斯拉杀手”,陶琳相信市场也会在未来证明特斯拉与其他新能源车企之间可以共同成长。电动车已经完全可以代替燃油车,目前缺的只是产能和好的供应链和每一个特斯拉员工一样,陶琳对于电动车的未来充满信心,尤其是对特斯拉的产品与技术充满信心。她坚定地认为:“从产品本身来讲,今天的特斯拉已经可以从各个方面替代燃油车,而且性价比可能更好。目前欠缺的只是产能和好的供应链,以及完善的配套产品。”上海超级工厂电池模组&电池包生产线 (图片来源:特斯拉)特斯拉在去年四季度财报中提到,上海超级工厂的年产能有能力维持在25万辆以上。目前Model 3的产能已经处于满负荷状态,但陶琳认为上海工厂的产能还有很大提升空间。如果使用公开数据进行推算,将上海超级工厂的面积、产能与产量进行运算,再与其他车企的工厂单位面积与产能进行对比,就会发现特斯拉的利用率已经极高。特斯拉采取的方案是从底层逻辑提升效率,所以其产能也超过了传统认知中工厂产能的上限。至于传说中的第二工厂,会出现在特斯拉的在华业务规划之中,但陶琳否认了此前外媒关于已经选址重庆的报道。有趣的是,特斯拉并不会将自己的上海超级工厂宣传为智能工厂。在陶琳眼中,智能的目的归根结底是为了提升效率,而上海超级工厂的智能化程度已经非常高了。生产制造的流程应该是越简洁越好,而不是人为地将其复杂化,陶琳对有些工厂为了智能化而去增加很多打着智能化标签的流程很是不以为然,认为这反而降低了工厂的效率,使其本末倒置。在特斯拉的定义中,智能只是为了实现更高的效率,而非只是成为宣传的一个噱头。根据陶琳的介绍,目前特斯拉上海超级工厂除满足中国本土销售需求之外,还承载了特斯拉全世界范围内绝大部分Model 3的生产,已经在向欧洲、日本等地出口,下一个目标会是东南亚的几个国家。至于特斯拉供应链的本土化问题,去年曾有关于“2020年底实现100%国产化”的误读,在被问及Model 3与Model Y当下的国产化程度时,陶琳表示前者的国产化比例已经超过85%,后者的国产化比例也在逐渐上升。特斯拉在中国有着本土化程度非常高的供应链体系,目前除芯片等关键部件之外,已经都实现了本土化的进程。在未来,如果本土供应链能够继续发力,或许陶琳就不会再有电动车代替燃油车只缺好的供应链的感慨了。写在最后这次上海车展对于特斯拉和陶琳而言会是一次不愉快且难忘的记忆,但是我们也有机会看到,或许外部环境会有各种压力,但特斯拉依旧在向既定的方向坚定前行。舆论风暴终将过去,风暴眼中的陶琳依旧会以做好产品的形式应对外界的质疑。","news_type":1,"symbols_score_info":{"TSLA":1}},"isVote":1,"tweetType":1,"viewCount":3795,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":332938213,"gmtCreate":1610262686232,"gmtModify":1703743383794,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"这标题也太离谱了,没这么做宣传的。不出一年左右时间,蔚来的态势就会明了的。","listText":"这标题也太离谱了,没这么做宣传的。不出一年左右时间,蔚来的态势就会明了的。","text":"这标题也太离谱了,没这么做宣传的。不出一年左右时间,蔚来的态势就会明了的。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/332938213","repostId":"2102218968","repostType":2,"isVote":1,"tweetType":1,"viewCount":1643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":142960636,"gmtCreate":1626126384025,"gmtModify":1626126384025,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"滴滴这样了,其他的会怎样?","listText":"滴滴这样了,其他的会怎样?","text":"滴滴这样了,其他的会怎样?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":2,"link":"https://laohu8.com/post/142960636","repostId":"1130575572","repostType":4,"repost":{"id":"1130575572","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据,旨在帮助投资者理解世界,做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626098818,"share":"https://www.laohu8.com/m/news/1130575572?lang=zh_CN&edition=full","pubTime":"2021-07-12 22:06","market":"sh","language":"zh","title":"热门中概股普跌,滴滴跌超5%","url":"https://stock-news.laohu8.com/highlight/detail?id=1130575572","media":"老虎资讯综合","summary":"周一盘初,热门中概股普跌,滴滴、腾讯音乐、好未来、高途跌超5%,贝壳、叮咚跌超4%,RLX科技跌超3%,小鹏汽车、爱奇艺跌超2%,拼多多、蔚来、百度、哔哩哔哩跌超1%。","content":"<p>周一盘初,热门中概股普跌,滴滴、<a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>、<a href=\"https://laohu8.com/S/TAL\">好未来</a>、<a href=\"https://laohu8.com/S/GOTU\">高途</a>跌超5%,<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>、<a href=\"https://laohu8.com/S/DDL\">叮咚</a>跌超4%,<a href=\"https://laohu8.com/S/RLX\">RLX科技</a>跌超3%,<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>、<a href=\"https://laohu8.com/S/IQ\">爱奇艺</a>跌超2%,<a href=\"https://laohu8.com/S/PDD\">拼多多</a>、<a href=\"https://laohu8.com/S/NIO\">蔚来</a>、<a href=\"https://laohu8.com/S/BIDU\">百度</a>、<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>跌超1%。</p>\n<p><img src=\"https://static.tigerbbs.com/931e0811473618ff2d2b6c0a73f63fd3\" tg-width=\"368\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p>","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>热门中概股普跌,滴滴跌超5%</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; 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}\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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n热门中概股普跌,滴滴跌超5%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2021-07-12 22:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>周一盘初,热门中概股普跌,滴滴、<a href=\"https://laohu8.com/S/TME\">腾讯音乐</a>、<a href=\"https://laohu8.com/S/TAL\">好未来</a>、<a href=\"https://laohu8.com/S/GOTU\">高途</a>跌超5%,<a href=\"https://laohu8.com/S/BEKE\">贝壳</a>、<a href=\"https://laohu8.com/S/DDL\">叮咚</a>跌超4%,<a href=\"https://laohu8.com/S/RLX\">RLX科技</a>跌超3%,<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>、<a href=\"https://laohu8.com/S/IQ\">爱奇艺</a>跌超2%,<a href=\"https://laohu8.com/S/PDD\">拼多多</a>、<a href=\"https://laohu8.com/S/NIO\">蔚来</a>、<a href=\"https://laohu8.com/S/BIDU\">百度</a>、<a href=\"https://laohu8.com/S/BILI\">哔哩哔哩</a>跌超1%。</p>\n<p><img src=\"https://static.tigerbbs.com/931e0811473618ff2d2b6c0a73f63fd3\" tg-width=\"368\" tg-height=\"667\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cccb4060ead1a8adaaa889023510cde1","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","RLX":"雾芯科技","TTTN":"老虎中美互联网巨头ETF","XPEV":"小鹏集团","NIO":"蔚来","BILI":"哔哩哔哩","PDD":"拼多多","DIDI":"滴滴(已退市)","BEKE":"贝壳","DDL":"叮咚买菜","BIDU":"百度"},"is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130575572","content_text":"周一盘初,热门中概股普跌,滴滴、腾讯音乐、好未来、高途跌超5%,贝壳、叮咚跌超4%,RLX科技跌超3%,小鹏汽车、爱奇艺跌超2%,拼多多、蔚来、百度、哔哩哔哩跌超1%。","news_type":1,"symbols_score_info":{"XPEV":0.9,"NIO":0.9,"BEKE":0.9,"TTTN":0.9,"PDD":0.9,"BILI":0.9,"DDL":0.9,"QNETCN":0.9,"RLX":0.9,"DIDI":0.9,"BIDU":0.9}},"isVote":1,"tweetType":1,"viewCount":1640,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":377001572,"gmtCreate":1619483105296,"gmtModify":1619483105296,"author":{"id":"3464817662142392","authorId":"3464817662142392","name":"antonyye","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3464817662142392","idStr":"3464817662142392"},"themes":[],"title":"","htmlText":"蔚来还能买吗?怎么被发掘出来跟上海车展闹场有点蛛丝马迹的牵连?如果是真的话,那这家股票一定不能买了…。","listText":"蔚来还能买吗?怎么被发掘出来跟上海车展闹场有点蛛丝马迹的牵连?如果是真的话,那这家股票一定不能买了…。","text":"蔚来还能买吗?怎么被发掘出来跟上海车展闹场有点蛛丝马迹的牵连?如果是真的话,那这家股票一定不能买了…。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/377001572","repostId":"2130348491","repostType":2,"repost":{"id":"2130348491","kind":"news","pubTimestamp":1619461306,"share":"https://www.laohu8.com/m/news/2130348491?lang=zh_CN&edition=full","pubTime":"2021-04-27 02:21","market":"us","language":"zh","title":"蔚来盘中异动 股价大涨5.01%","url":"https://stock-news.laohu8.com/highlight/detail?id=2130348491","media":"自选股智能写手","summary":"北京时间2021年04月27日02时21分,蔚来股票出现异动,股价急速拉升5.01%。截至发稿,该股报43.14美元/股,成交量6895.82万股,换手率4.21%,振幅5.48%。蔚来股票所在的汽车制造行业中,整体涨幅为0.92%。消息层面,截至02时21分,蔚来股票正面舆情新闻比例26.39%。公开资料显示,长城汽车此次因为芯片短缺而面临停产的两大生产基地合计产能高达百万辆。","content":"<html><body><article><p>北京时间2021年04月27日02时21分,<a href=\"https://laohu8.com/S/NIO\">蔚来</a>(NIO.us)股票出现异动,股价急速<span>拉升</span>5.01%。截至发稿,该股报43.14美元/股,成交量6895.82万股,<span>换手率</span>4.21%,振幅5.48%。</p><p>最近的财报数据显示,该股实现<span>营业收入</span>23.55亿美元,<span>净利润</span>-8.13亿美元,<span>每股收益</span>-0.69美元,<span>毛利</span>1.87亿美元,市盈率-58.84倍。</p><p>机构评级方面,在所有20家参与评级的机构中,65%的券商给予买入建议,30%的券商给予持有建议,5%的券商给予卖出建议。</p><p>蔚来股票所在的汽车制造行业中,整体涨幅为0.92%。其相关个股中,Ayro Inc、CIIG Merger Corp Class A、<a href=\"https://laohu8.com/S/NKLA\">Nikola Corporation</a>涨幅较大,Workhorse Group Inc、Nikola Corporation、蔚来较为活跃,换手率分别为5.24%、4.29%、4.21%,振幅较大的相关个股有CIIG Merger Corp Class A、Ayro Inc、Nikola Corporation,振幅分别为11.30%、10.84%、10.57%。</p><p>蔚来公司简介:蔚来公司在中国的高端电动汽车市场开展业务。 该公司设计并共同制造和销售<a href=\"https://laohu8.com/S/5RE.SI\">智能</a>和互联的优质电动汽车,从而推动下一代技术在连接性,自动驾驶和人工智能方面的创新。 它的模型包括EP9超级跑车,ES8,ES6和EC6。 该公司通过自己的销售网络销售车辆,包括蔚来中心,NIO Spaces及其移动应用程序。 大部分收入来自销售车辆。</p><p>消息层面,截至02时21分,蔚来股票正面舆情新闻比例26.39%。《<snpa>“芯荒”持续,蔚来之后<a href=\"https://laohu8.com/S/601633\">长城汽车</a>也中招?官方回应来了……</snpa>》资讯为影响蔚来的重要信息。该信息摘要如下:继蔚来汽车之后,<a href=\"https://laohu8.com/S/02333\">长城汽车</a>也被曝出受到了芯片短缺的影响。国内车企被芯片短缺问题困扰,仅揭开了全球汽车市场“缺芯潮”的冰山一角。因芯片短缺,戴姆勒、福特、捷豹路虎等车企已于日前相继宣布暂停部分工厂的生产。公开资料显示,长城汽车此次因为芯片短缺而面临停产的两大生产基地合计产能高达百万辆。“缺芯”问题预计三季度缓解。</p><p>(以上内容为自选股智能机器写手Money Call完成,仅作为用户看盘参考,不作为交易依据。)</p></article></body></html>","source":"tencent","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 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href=http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202104270221477c0b5365&s=b><strong>自选股智能写手</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>北京时间2021年04月27日02时21分,蔚来(NIO.us)股票出现异动,股价急速拉升5.01%。截至发稿,该股报43.14美元/股,成交量6895.82万股,换手率4.21%,振幅5.48%。最近的财报数据显示,该股实现营业收入23.55亿美元,净利润-8.13亿美元,每股收益-0.69美元,毛利1.87亿美元,市盈率-58.84倍。机构评级方面,在所有20家参与评级的机构中,65%的券商...</p>\n\n<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202104270221477c0b5365&s=b\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/feebf0ff4401232c3ecc332f566f18e0","relate_stocks":{"NIO":"蔚来"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN202104270221477c0b5365&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2130348491","content_text":"北京时间2021年04月27日02时21分,蔚来(NIO.us)股票出现异动,股价急速拉升5.01%。截至发稿,该股报43.14美元/股,成交量6895.82万股,换手率4.21%,振幅5.48%。最近的财报数据显示,该股实现营业收入23.55亿美元,净利润-8.13亿美元,每股收益-0.69美元,毛利1.87亿美元,市盈率-58.84倍。机构评级方面,在所有20家参与评级的机构中,65%的券商给予买入建议,30%的券商给予持有建议,5%的券商给予卖出建议。蔚来股票所在的汽车制造行业中,整体涨幅为0.92%。其相关个股中,Ayro Inc、CIIG Merger Corp Class A、Nikola Corporation涨幅较大,Workhorse Group Inc、Nikola Corporation、蔚来较为活跃,换手率分别为5.24%、4.29%、4.21%,振幅较大的相关个股有CIIG Merger Corp Class A、Ayro Inc、Nikola Corporation,振幅分别为11.30%、10.84%、10.57%。蔚来公司简介:蔚来公司在中国的高端电动汽车市场开展业务。 该公司设计并共同制造和销售智能和互联的优质电动汽车,从而推动下一代技术在连接性,自动驾驶和人工智能方面的创新。 它的模型包括EP9超级跑车,ES8,ES6和EC6。 该公司通过自己的销售网络销售车辆,包括蔚来中心,NIO Spaces及其移动应用程序。 大部分收入来自销售车辆。消息层面,截至02时21分,蔚来股票正面舆情新闻比例26.39%。《“芯荒”持续,蔚来之后长城汽车也中招?官方回应来了……》资讯为影响蔚来的重要信息。该信息摘要如下:继蔚来汽车之后,长城汽车也被曝出受到了芯片短缺的影响。国内车企被芯片短缺问题困扰,仅揭开了全球汽车市场“缺芯潮”的冰山一角。因芯片短缺,戴姆勒、福特、捷豹路虎等车企已于日前相继宣布暂停部分工厂的生产。公开资料显示,长城汽车此次因为芯片短缺而面临停产的两大生产基地合计产能高达百万辆。“缺芯”问题预计三季度缓解。(以上内容为自选股智能机器写手Money Call完成,仅作为用户看盘参考,不作为交易依据。)","news_type":1,"symbols_score_info":{"NIO":1}},"isVote":1,"tweetType":1,"viewCount":6500,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3534243483510477","authorId":"3534243483510477","name":"破风者LL","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3534243483510477","idStr":"3534243483510477"},"content":"盗用蔚来车主的图片编造的,剧情已反转,哈哈,特斯拉是真脏","text":"盗用蔚来车主的图片编造的,剧情已反转,哈哈,特斯拉是真脏","html":"盗用蔚来车主的图片编造的,剧情已反转,哈哈,特斯拉是真脏"},{"author":{"id":"3499865111268613","authorId":"3499865111268613","name":"鲜嫩de韭菜","avatar":"https://static.tigerbbs.com/97a7506e480ea39663d893672185df5a","crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3499865111268613","idStr":"3499865111268613"},"content":"特斯拉是电车行业的先驱,蔚来的未来是星辰大海,蔚来也不需要通过助燃特斯拉质量丑闻去抹黑对手,难道目前蔚来不是高端电车一哥吗?奔驰宝马油车大把的市场份额。","text":"特斯拉是电车行业的先驱,蔚来的未来是星辰大海,蔚来也不需要通过助燃特斯拉质量丑闻去抹黑对手,难道目前蔚来不是高端电车一哥吗?奔驰宝马油车大把的市场份额。","html":"特斯拉是电车行业的先驱,蔚来的未来是星辰大海,蔚来也不需要通过助燃特斯拉质量丑闻去抹黑对手,难道目前蔚来不是高端电车一哥吗?奔驰宝马油车大把的市场份额。"}],"imageCount":0,"langContent":"CN","totalScore":0}],"lives":[]}