klchua78的个人主页 - 老虎社区

klchua78

klchua78

Trade more to win

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2021-04-18

[Smile] [Happy]

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2021-04-18

[What]

$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>

2021-04-11

[警告] [警告] [警告]

抱歉，原内容已删除

2021-04-11

[开心] [开心] [开心] [开心]

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2021-04-01

Shall wait and see for now… anot much hype thesefew days.

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2021-03-27

[开心] [开心] [开心]

Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>

2021-03-19

[开心] [开心]

Bank Stocks Are Rallying. Here's Why.<blockquote>银行股正在上涨。原因如下。</blockquote>

2021-03-15

i am a subscriber and shareholder too. disney fans!!!

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2021-03-15

Looks good. BUY buy buy!!!

Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是韩国的亚马逊，但也许更好。现在你可以买股票了。</blockquote>

2021-03-11

Sell sell sell

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2021-03-06

Buy more on dipped. this will definitely recover back even higher.

Is The Nio Sell-Off Overdone?<blockquote>蔚来的抛售是否过度了？</blockquote>

2021-03-06

Diamond Hands. No fear!!!

Palantir plunged more than 13%<blockquote>Palantir 暴跌超过 13%</blockquote>

2021-03-03

Up & Down… which direction to take?

2021-03-02

Up Up Up!!! [财迷]

抱歉，原内容已删除

2021-02-27

Buy Buy Buy

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2021-02-24

Bull Run all the way. Diamond hands.

Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否在通胀和债券收益率上升的情况下幸存下来？历史是这样说的</blockquote>

2021-02-24

Buy on dipped.

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2021-02-21

Buy or Sell???

2021-02-20

[爱心] [看涨] [看涨] [看涨]

抱歉，原内容已删除

2021-02-17

Sell PUtS

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[Happy]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379131609","repostId":"1165321503","repostType":4,"isVote":1,"tweetType":1,"viewCount":2218,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379131189,"gmtCreate":1618704240741,"gmtModify":1634291394128,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379131189","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohunote.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></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>$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346777880,"gmtCreate":1618120182340,"gmtModify":1634294798006,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[警告]&nbsp;[警告]&nbsp;[警告]&nbsp;","listText":"[警告]&nbsp;[警告]&nbsp;[警告]&nbsp;","text":"[警告] [警告] [警告]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346777880","repostId":"1171250660","repostType":4,"isVote":1,"tweetType":1,"viewCount":3080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":346566888,"gmtCreate":1618071913744,"gmtModify":1634294991172,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","listText":"[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","text":"[开心] [开心] [开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346566888","repostId":"2126033592","repostType":4,"isVote":1,"tweetType":1,"viewCount":2696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":357186506,"gmtCreate":1617246597705,"gmtModify":1634521822805,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Shall wait and see for now… anot much hype thesefew days.&nbsp;","listText":"Shall wait and see for now… anot much hype thesefew days.&nbsp;","text":"Shall wait and see for now… anot much hype thesefew days.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357186506","repostId":"2124208563","repostType":4,"isVote":1,"tweetType":1,"viewCount":2299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356483526,"gmtCreate":1616806640765,"gmtModify":1634523918119,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","listText":"[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","text":"[开心] [开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/356483526","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","kind":"news","pubTimestamp":1616772179,"share":"https://www.laohunote.com/m/news/1111192234?lang=zh_CN&edition=full","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度还有几天就结束了。这意味着汽车制造商将提供更多交付数据。对于投资者来说，这些数字将比平时更高。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等高估值、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车 (GM) 和福特汽车 (F) 最近都意外停工，并称芯片问题是 2021 年数十亿美元的利润阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给予特斯拉或任何其他快速增长的电动汽车制造商通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不乐观。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>蔚来（蔚来）股价在周五交易中下跌超过 6%，此前这家电动汽车制造商将第一季度交付量指引从约 20,250 辆下调至约 19,500 辆。蔚来管理层以芯片短缺为由，将从 3 月 29 日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉来说，华尔街正在寻找 3 月份交付的约 162,000 辆汽车。这低于最高估计的约 18.3 万辆汽车。分析师似乎正在减少数字，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约 181,000 辆汽车。对于 2021 年全年，分析师预计将交付近 80 万辆汽车，同比增长约 60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>加拿大皇家银行分析师乔·斯帕克 (Joe Spak) 预测第一季度交付量为 170,000 辆，同比增长 90% 以上。他还预测，特斯拉本季度将在加州生产 96,000 辆汽车，在华生产 74,000 辆汽车。“Spak在周四的一份报告中写道：”共识[估计]看起来大多是合理的。“我们确实在寻找最新消息，看看半短缺对特斯拉的影响--就像对整个行业的影响一样。”他认为，由于芯片的影响，预测存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak 将特斯拉股票评级为持有，目标股价为 725 美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。增长率上升主要有两种方式。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在未来很长一段时间内产生的。相对而言，当投资者今天可以从现金中获得更高的利率时，这种现金流的价值就会降低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在 2020 年上涨超过 740% 后，今年迄今已下跌约 10%。周五早盘交易中，股价下跌 0.9%，至 634.40 美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>","source":"lsy1601382232898","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>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.<blockquote>特斯拉快递来了。它们比以往任何时候都更重要。以下是可以期待的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-26 23:22</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p><p><blockquote>第一季度还有几天就结束了。这意味着汽车制造商将提供更多交付数据。对于投资者来说，这些数字将比平时更高。原因很简单：全球汽车微芯片短缺正在扰乱整个汽车行业。</blockquote></p><p> Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p><p><blockquote>对于特斯拉（股票代码：TSLA）等高估值、高增长的公司来说，数字将更加重要。特斯拉投资者想要增长，而芯片形势正在挤压增长。通用汽车 (GM) 和福特汽车 (F) 最近都意外停工，并称芯片问题是 2021 年数十亿美元的利润阻力。这不是投资者想听到的。</blockquote></p><p> Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p><p><blockquote>每个人都意识到这个问题。尽管如此，当第一季度数据公布时，如果业绩弱于预期，投资者必须决定是否给予特斯拉或任何其他快速增长的电动汽车制造商通行证。</blockquote></p><p> So far the market isn’t feeling charitable. But the sample size is only one stock.</p><p><blockquote>到目前为止，市场并不乐观。但样本量只有一只股票。</blockquote></p><p> NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p><p><blockquote>蔚来（蔚来）股价在周五交易中下跌超过 6%，此前这家电动汽车制造商将第一季度交付量指引从约 20,250 辆下调至约 19,500 辆。蔚来管理层以芯片短缺为由，将从 3 月 29 日开始关闭一家制造工厂五天。</blockquote></p><p> For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p><p><blockquote>对于特斯拉来说，华尔街正在寻找 3 月份交付的约 162,000 辆汽车。这低于最高估计的约 18.3 万辆汽车。分析师似乎正在减少数字，可能是因为短缺。</blockquote></p><p> Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p><p><blockquote>特斯拉第四季度交付了约 181,000 辆汽车。对于 2021 年全年，分析师预计将交付近 80 万辆汽车，同比增长约 60%。</blockquote></p><p> RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p><p><blockquote>加拿大皇家银行分析师乔·斯帕克 (Joe Spak) 预测第一季度交付量为 170,000 辆，同比增长 90% 以上。他还预测，特斯拉本季度将在加州生产 96,000 辆汽车，在华生产 74,000 辆汽车。“Spak在周四的一份报告中写道：”共识[估计]看起来大多是合理的。“我们确实在寻找最新消息，看看半短缺对特斯拉的影响--就像对整个行业的影响一样。”他认为，由于芯片的影响，预测存在一些额外的下行风险，尤其是第二季度的数据。</blockquote></p><p> Spak rates Tesla stock Hold and has a $725 price target for shares.</p><p><blockquote>Spak 将特斯拉股票评级为持有，目标股价为 725 美元。</blockquote></p><p> In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p><p><blockquote>就特斯拉股票而言，芯片短缺已经让位于利率上升。增长率上升主要有两种方式。首先，这使得增长的融资成本更高。蔚来尚未盈利。高增长公司的大部分现金流是在未来很长一段时间内产生的。相对而言，当投资者今天可以从现金中获得更高的利率时，这种现金流的价值就会降低一些。</blockquote></p><p> Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p><p><blockquote>特斯拉股价在 2020 年上涨超过 740% 后，今年迄今已下跌约 10%。周五早盘交易中，股价下跌 0.9%，至 634.40 美元。标准普尔500指数上涨约0.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":3661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":350059915,"gmtCreate":1616141756037,"gmtModify":1634527034050,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[开心]&nbsp;[开心]&nbsp;","listText":"[开心]&nbsp;[开心]&nbsp;","text":"[开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/350059915","repostId":"1105114263","repostType":4,"repost":{"id":"1105114263","kind":"news","pubTimestamp":1616140761,"share":"https://www.laohunote.com/m/news/1105114263?lang=zh_CN&edition=full","pubTime":"2021-03-19 15:59","market":"us","language":"en","title":"Bank Stocks Are Rallying. Here's Why.<blockquote>银行股正在上涨。原因如下。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105114263","media":"Barrons","summary":"In a down day for much of the market, bank stocks emerged as one of the few bright spots. That’s a t","content":"<p>In a down day for much of the market, bank stocks emerged as one of the few bright spots. That’s a trend that is likely to continue if the yield on the 10-year note continues to climb.</p><p><blockquote>在大部分市场下跌的一天，银行股成为为数不多的亮点之一。如果 10 年期国债收益率继续攀升，这种趋势很可能会继续下去。</blockquote></p><p> Shortly after Thursday’s market open, the&nbsp;SPDR S&amp;P Bank&nbsp;exchange-traded fund (ticker: KBE) was up 2.8%, outpacing the 0.5% drop in the&nbsp;S&amp;P 500&nbsp;and the 1.5% decline in the&nbsp;Nasdaq Composite.The rally in banks comes as the yield on the 10-year Treasury note hit 1.75% early Thursday — its highest level in more than a year. As bond yields rise, growth stocks —which include many of the tech names that fared well during the pandemic— tend to suffer as the value of their future cash flows wane.</p><p><blockquote>周四开盘后不久，SPDR S&amp;P 银行交易所交易基金（股票代码：KBE）上涨了 2.8%，超过了标普500指数 0.5% 的跌幅和纳斯达克综合指数 1.5% 的跌幅。银行股上涨之际，10 年期国债收益率周四早些时候触及 1.75%，为一年多来的最高水平。随着债券收益率上升，成长型股票（包括许多在疫情期间表现良好的科技股）往往会随着未来现金流价值的下降而受到影响。</blockquote></p><p> Bank stocks, which were depressed for much of the last year, are one of the few beneficiaries of the jump in long-term yields. The sector, which was hammered after the&nbsp;Federal Reserve lowered interest rates to near-zero last year, benefits when rates rise. Banks lend money on the long end of the yield curve and borrow on the short end of the curve. Even with interest rates still low by historical standards,any steepening of the yield curve&nbsp;is a welcome sign for banks as they make their money on the spread between loans and deposits.</p><p><blockquote>去年大部分时间都处于低迷状态的银行股是长期收益率飙升的少数受益者之一。去年美联储将利率降至接近于零后，该行业遭受重创，但当利率上升时，该行业将受益。银行在收益率曲线的长端放贷，在曲线的短端借贷。即使以历史标准衡量，利率仍然很低，但收益率曲线的任何陡峭化对银行来说都是一个受欢迎的迹象，因为它们通过贷款和存款之间的利差赚钱。</blockquote></p><p> With economists expecting that the economic recovery from the coronavirus pandemic will be quicker than initially feared, bank stocks should be poised to continue to outperform the broader market. So far this year, the SPDR S&amp;P Bank ETF has gained 33%, while the S&amp;P 500 is up nearly 6%.</p><p><blockquote>由于经济学家预计冠状病毒大流行的经济复苏将比最初担心的更快，银行股应该会继续跑赢大盘。今年到目前为止，SPDR S&amp;P Bank ETF 已上涨 33%，而标普500上涨近 6%。</blockquote></p><p> Among the banks leading the sector’s rally on Thursday were&nbsp;Bank of America(BAC), which was up 2.6% and&nbsp;Wells Fargo(WFC), which gained 2.4%.JPMorgan Chase (JPM) and&nbsp;HSBC(HSBC)&nbsp;were up more than 1%.</p><p><blockquote>周四引领该行业上涨的银行包括美国银行（BAC）和富国银行（WFC），后者上涨 2.6%，摩根大通（JPM）和汇丰银行（HSBC）上涨超过 1%。</blockquote></p><p></p>","source":"lsy1601382232898","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>Bank Stocks Are Rallying. Here's Why.<blockquote>银行股正在上涨。原因如下。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBank Stocks Are Rallying. Here's Why.<blockquote>银行股正在上涨。原因如下。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-19 15:59</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In a down day for much of the market, bank stocks emerged as one of the few bright spots. That’s a trend that is likely to continue if the yield on the 10-year note continues to climb.</p><p><blockquote>在大部分市场下跌的一天，银行股成为为数不多的亮点之一。如果 10 年期国债收益率继续攀升，这种趋势很可能会继续下去。</blockquote></p><p> Shortly after Thursday’s market open, the&nbsp;SPDR S&amp;P Bank&nbsp;exchange-traded fund (ticker: KBE) was up 2.8%, outpacing the 0.5% drop in the&nbsp;S&amp;P 500&nbsp;and the 1.5% decline in the&nbsp;Nasdaq Composite.The rally in banks comes as the yield on the 10-year Treasury note hit 1.75% early Thursday — its highest level in more than a year. As bond yields rise, growth stocks —which include many of the tech names that fared well during the pandemic— tend to suffer as the value of their future cash flows wane.</p><p><blockquote>周四开盘后不久，SPDR S&amp;P 银行交易所交易基金（股票代码：KBE）上涨了 2.8%，超过了标普500指数 0.5% 的跌幅和纳斯达克综合指数 1.5% 的跌幅。银行股上涨之际，10 年期国债收益率周四早些时候触及 1.75%，为一年多来的最高水平。随着债券收益率上升，成长型股票（包括许多在疫情期间表现良好的科技股）往往会随着未来现金流价值的下降而受到影响。</blockquote></p><p> Bank stocks, which were depressed for much of the last year, are one of the few beneficiaries of the jump in long-term yields. The sector, which was hammered after the&nbsp;Federal Reserve lowered interest rates to near-zero last year, benefits when rates rise. Banks lend money on the long end of the yield curve and borrow on the short end of the curve. Even with interest rates still low by historical standards,any steepening of the yield curve&nbsp;is a welcome sign for banks as they make their money on the spread between loans and deposits.</p><p><blockquote>去年大部分时间都处于低迷状态的银行股是长期收益率飙升的少数受益者之一。去年美联储将利率降至接近于零后，该行业遭受重创，但当利率上升时，该行业将受益。银行在收益率曲线的长端放贷，在曲线的短端借贷。即使以历史标准衡量，利率仍然很低，但收益率曲线的任何陡峭化对银行来说都是一个受欢迎的迹象，因为它们通过贷款和存款之间的利差赚钱。</blockquote></p><p> With economists expecting that the economic recovery from the coronavirus pandemic will be quicker than initially feared, bank stocks should be poised to continue to outperform the broader market. So far this year, the SPDR S&amp;P Bank ETF has gained 33%, while the S&amp;P 500 is up nearly 6%.</p><p><blockquote>由于经济学家预计冠状病毒大流行的经济复苏将比最初担心的更快，银行股应该会继续跑赢大盘。今年到目前为止，SPDR S&amp;P Bank ETF 已上涨 33%，而标普500上涨近 6%。</blockquote></p><p> Among the banks leading the sector’s rally on Thursday were&nbsp;Bank of America(BAC), which was up 2.6% and&nbsp;Wells Fargo(WFC), which gained 2.4%.JPMorgan Chase (JPM) and&nbsp;HSBC(HSBC)&nbsp;were up more than 1%.</p><p><blockquote>周四引领该行业上涨的银行包括美国银行（BAC）和富国银行（WFC），后者上涨 2.6%，摩根大通（JPM）和汇丰银行（HSBC）上涨超过 1%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/why-bank-stocks-are-rallying-and-why-they-can-continue-to-do-so-51616079455?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZION":"齐昂银行","KBE":"银行指数ETF-SPDR KBW","CFG":"Citizens Financial Group","BAC":"美国银行","WFC":"富国银行"},"source_url":"https://www.barrons.com/articles/why-bank-stocks-are-rallying-and-why-they-can-continue-to-do-so-51616079455?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105114263","content_text":"In a down day for much of the market, bank stocks emerged as one of the few bright spots. That’s a trend that is likely to continue if the yield on the 10-year note continues to climb.\nShortly after Thursday’s market open, the SPDR S&P Bank exchange-traded fund (ticker: KBE) was up 2.8%, outpacing the 0.5% drop in the S&P 500 and the 1.5% decline in the Nasdaq Composite.The rally in banks comes as the yield on the 10-year Treasury note hit 1.75% early Thursday — its highest level in more than a year. As bond yields rise, growth stocks —which include many of the tech names that fared well during the pandemic— tend to suffer as the value of their future cash flows wane.\nBank stocks, which were depressed for much of the last year, are one of the few beneficiaries of the jump in long-term yields. The sector, which was hammered after the Federal Reserve lowered interest rates to near-zero last year, benefits when rates rise. Banks lend money on the long end of the yield curve and borrow on the short end of the curve. Even with interest rates still low by historical standards,any steepening of the yield curve is a welcome sign for banks as they make their money on the spread between loans and deposits.\nWith economists expecting that the economic recovery from the coronavirus pandemic will be quicker than initially feared, bank stocks should be poised to continue to outperform the broader market. So far this year, the SPDR S&P Bank ETF has gained 33%, while the S&P 500 is up nearly 6%.\nAmong the banks leading the sector’s rally on Thursday were Bank of America(BAC), which was up 2.6% and Wells Fargo(WFC), which gained 2.4%.JPMorgan Chase (JPM) and HSBC(HSBC) were up more than 1%.","news_type":1,"symbols_score_info":{"ZION":0.9,"CFG":0.9,"KBE":0.9,"WFC":0.9,"BAC":0.9}},"isVote":1,"tweetType":1,"viewCount":2708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":322372442,"gmtCreate":1615778098586,"gmtModify":1703492815723,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"i&nbsp;am a subscriber and shareholder too. disney fans!!!","listText":"i&nbsp;am a subscriber and shareholder too. disney fans!!!","text":"i am a subscriber and shareholder too. disney fans!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/322372442","repostId":"1141300773","repostType":4,"isVote":1,"tweetType":1,"viewCount":2547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322372631,"gmtCreate":1615778065323,"gmtModify":1703492815551,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Looks good. BUY buy buy!!!","listText":"Looks good. BUY buy buy!!!","text":"Looks good. BUY buy buy!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322372631","repostId":"1139451069","repostType":4,"repost":{"id":"1139451069","kind":"news","pubTimestamp":1615777682,"share":"https://www.laohunote.com/m/news/1139451069?lang=zh_CN&edition=full","pubTime":"2021-03-15 11:08","market":"us","language":"en","title":"Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是韩国的亚马逊，但也许更好。现在你可以买股票了。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139451069","media":"Barrons","summary":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in So","content":"<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，我就越想搬到首尔去。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以壮观的方式上市。该公司目前是美国第二大上市公司，仅次于三星电子。这是自 2014 年阿里巴巴集团控股公司以来外国发行人在美国最大的首次公开募股，也是自 2019 年 Uber Technologies 以来最大的美国新股。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang 由哈佛商学院辍学生 Bom Kim 于 2010 年创立，现已成为韩国经济中的一股巨大力量。该公司占全国消费商务的 4%，提供广泛的在线零售服务： ThinkAmazon.com<i>加</i>Instacart、DoorDash 和 Netflix. Coupang 拥有约 5 万名员工，预计到 2025 年将再雇用 5 万名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它有重要的地理优势。韩国是一个精通技术、人口密度极高、人口众多的国家，人口超过5000万。埃里克·金 (Eric Kim) 曾于 2011 年至 2017 年担任 Coupang 董事会成员，同时担任该公司投资者 Maverick Capital 的董事总经理，他指出，韩国的土地面积与印第安纳州大致相同，但人口几乎是印第安纳州的 10 倍。他补充说，除去不适宜居住的山区，所有这些人都挤在罗德岛大小的区域里。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使 Coupang 反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang 表示，70% 的韩国人居住在其配送中心 7 英里范围内。几乎任何商品都可以在当天订购，“黎明送货 ”保证午夜前订购的商品会在早上 7 点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。(亚马逊，让我们拭目以待）Coupang Fresh 是该公司市场领先的在线杂货服务，它将货物装在可重复使用的容器中--将货物放在门口，由 Coupang 15,000 名送货人员中的一名将货物带走重复使用。退货？把它们放在门外——不需要特殊包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年的收入为120亿美元，比上一年增长91%，因为疫情帮助从2019年的55%和2018年的69%加速增长。过去四个季度的增长率均在 90% 以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司正在接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang 去年的利润率为负 2.1%，而前一年为负 8.8%。这反映了保护工人免受疫情影响的一些不寻常的成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为 63.50 美元，使该公司市值达到 1140 亿美元。该股随后走低，周四收盘价略低于每股 50 美元，估值略低于 900 亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang 的股票并不便宜--eBay（eBay）的收入与之相当，但市值不到一半。根据过去 12 个月的销售额，该股的交易价格略高于阿里巴巴-SW (BABA)。但是Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。Coupang 也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和库邦的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018 年，软银愿景基金（该公司于 2016 年成立的 1000 亿美元风险投资组合）又投资了 20 亿美元，这笔交易由愿景基金高管莉迪亚-杰特（Lydia Jett）牵头，她现在是 Coupang 董事会成员。最初的投资被注入愿景基金，总赌注为27亿美元。该股份现在价值 300 亿美元。这是一场巨大的胜利，也可能是由女性风险投资者牵头的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银没有在此次发行中出售任何股票<i>巴伦</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在首次投资 20 多年后，软银仍然是阿里巴巴-SW最大的单一股东。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“杰特说：”我们的目标是长期持有库邦。“在价值 5000 亿美元的零售市场中，还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中扮演的角色却如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。研究IPO市场的佛罗里达大学商学院教授杰伊·里特表示，只有六家韩国科技公司在美国市场上市，都是在1999年至2006年期间。这份名单实际上包括2006年上市的电子商务公司Gmarket，2009年被eBay以12亿美元收购。易贝宣布正在为其韩国业务寻找买家。韩国最知名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>杰特认为，Coupang 交易将成为韩国风险投资市场的一个转折点。她说，人们一直误以为韩国科技公司不够创新。“她说：”那扇门现在已经被炸掉了。“这将改变韩国公司的融资方式。这仅仅是个开始。”</blockquote></p><p></p>","source":"lsy1601382232898","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>Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是韩国的亚马逊，但也许更好。现在你可以买股票了。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是韩国的亚马逊，但也许更好。现在你可以买股票了。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-15 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，我就越想搬到首尔去。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以壮观的方式上市。该公司目前是美国第二大上市公司，仅次于三星电子。这是自 2014 年阿里巴巴集团控股公司以来外国发行人在美国最大的首次公开募股，也是自 2019 年 Uber Technologies 以来最大的美国新股。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang 由哈佛商学院辍学生 Bom Kim 于 2010 年创立，现已成为韩国经济中的一股巨大力量。该公司占全国消费商务的 4%，提供广泛的在线零售服务： ThinkAmazon.com<i>加</i>Instacart、DoorDash 和 Netflix. Coupang 拥有约 5 万名员工，预计到 2025 年将再雇用 5 万名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它有重要的地理优势。韩国是一个精通技术、人口密度极高、人口众多的国家，人口超过5000万。埃里克·金 (Eric Kim) 曾于 2011 年至 2017 年担任 Coupang 董事会成员，同时担任该公司投资者 Maverick Capital 的董事总经理，他指出，韩国的土地面积与印第安纳州大致相同，但人口几乎是印第安纳州的 10 倍。他补充说，除去不适宜居住的山区，所有这些人都挤在罗德岛大小的区域里。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使 Coupang 反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang 表示，70% 的韩国人居住在其配送中心 7 英里范围内。几乎任何商品都可以在当天订购，“黎明送货 ”保证午夜前订购的商品会在早上 7 点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。(亚马逊，让我们拭目以待）Coupang Fresh 是该公司市场领先的在线杂货服务，它将货物装在可重复使用的容器中--将货物放在门口，由 Coupang 15,000 名送货人员中的一名将货物带走重复使用。退货？把它们放在门外——不需要特殊包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年的收入为120亿美元，比上一年增长91%，因为疫情帮助从2019年的55%和2018年的69%加速增长。过去四个季度的增长率均在 90% 以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司正在接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang 去年的利润率为负 2.1%，而前一年为负 8.8%。这反映了保护工人免受疫情影响的一些不寻常的成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为 63.50 美元，使该公司市值达到 1140 亿美元。该股随后走低，周四收盘价略低于每股 50 美元，估值略低于 900 亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang 的股票并不便宜--eBay（eBay）的收入与之相当，但市值不到一半。根据过去 12 个月的销售额，该股的交易价格略高于阿里巴巴-SW (BABA)。但是Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。Coupang 也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和库邦的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018 年，软银愿景基金（该公司于 2016 年成立的 1000 亿美元风险投资组合）又投资了 20 亿美元，这笔交易由愿景基金高管莉迪亚-杰特（Lydia Jett）牵头，她现在是 Coupang 董事会成员。最初的投资被注入愿景基金，总赌注为27亿美元。该股份现在价值 300 亿美元。这是一场巨大的胜利，也可能是由女性风险投资者牵头的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银没有在此次发行中出售任何股票<i>巴伦</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在首次投资 20 多年后，软银仍然是阿里巴巴-SW最大的单一股东。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“杰特说：”我们的目标是长期持有库邦。“在价值 5000 亿美元的零售市场中，还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中扮演的角色却如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。研究IPO市场的佛罗里达大学商学院教授杰伊·里特表示，只有六家韩国科技公司在美国市场上市，都是在1999年至2006年期间。这份名单实际上包括2006年上市的电子商务公司Gmarket，2009年被eBay以12亿美元收购。易贝宣布正在为其韩国业务寻找买家。韩国最知名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>杰特认为，Coupang 交易将成为韩国风险投资市场的一个转折点。她说，人们一直误以为韩国科技公司不够创新。“她说：”那扇门现在已经被炸掉了。“这将改变韩国公司的融资方式。这仅仅是个开始。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CPNG":"Coupang, Inc."},"source_url":"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139451069","content_text":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.\nFounded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.complusInstacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.\nCoupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.\nThat high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.\nCoupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.\nCoupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.\nWhile not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.\nIn the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.\nCoupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.\nOne thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.\nSoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.\nSoftBank did not sell any shares in the offering, and Jett says in an interview withBarron’sthat the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.\n“We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”\nIt seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.\nJett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”","news_type":1,"symbols_score_info":{"CPNG":0.9}},"isVote":1,"tweetType":1,"viewCount":2315,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321459164,"gmtCreate":1615464914058,"gmtModify":1703489402800,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Sell sell sell","listText":"Sell sell sell","text":"Sell sell sell","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321459164","repostId":"1149862961","repostType":4,"isVote":1,"tweetType":1,"viewCount":2254,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320064414,"gmtCreate":1614991807938,"gmtModify":1703483988329,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Buy more on dipped. this will definitely recover back even higher.&nbsp;","listText":"Buy more on dipped. this will definitely recover back even higher.&nbsp;","text":"Buy more on dipped. this will definitely recover back even higher.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320064414","repostId":"1196034072","repostType":4,"repost":{"id":"1196034072","kind":"news","pubTimestamp":1614953178,"share":"https://www.laohunote.com/m/news/1196034072?lang=zh_CN&edition=full","pubTime":"2021-03-05 22:06","market":"us","language":"en","title":"Is The Nio Sell-Off Overdone?<blockquote>蔚来的抛售是否过度了？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1196034072","media":"Benzinga","summary":"NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released ea","content":"<p><div> NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having ...</p><p><blockquote><div>蔚来股价在科技股抛售中遭受重创，本周早些时候发布的季度报告并没有缓解市场情绪。该股现在处于熊市区域，有……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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>Is The Nio Sell-Off Overdone?<blockquote>蔚来的抛售是否过度了？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs The Nio Sell-Off Overdone?<blockquote>蔚来的抛售是否过度了？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Benzinga</strong><span class=\"h-time small\">2021-03-05 22:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having ...</p><p><blockquote><div>蔚来股价在科技股抛售中遭受重创，本周早些时候发布的季度报告并没有缓解市场情绪。该股现在处于熊市区域，有……</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone\">Benzinga</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://www.benzinga.com/news/21/03/20016348/is-the-nio-sell-off-overdone","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1196034072","content_text":"NIO Inc.  shares have been soundly thrashed in the tech sell-off, and thequarterlyreport released earlier this week did little to assuage sentiment. The stock is now in bear market territory, having pulled back 35.7 % from the Feb. 10 high of $64.60.Is the sell-off in the shares justified? Did fundamentals flash the red light to investors, who were thronging to the stock in droves ahead of the current downturn?The 2020 Highs: The COVID-19 pandemic, which broke out at the end of 2019 and ravaged the global economies for much of 2020, proved a blessing for some companies that benefited from the adversity.Nio, a luxury EV maker, should have taken a big hit in the year, as cash-strapped users preferred to hold back on big-ticket buys. The company did have its momentum of despair in the first two months of 2020. Not bogged down by the adverse geopolitical milieu, the EV startup chose to be proactive instead. The company announced several innovative product andservice offerings.Deliveries continued to climb through the year, with Nio's charismatic CEO William Bin attributing the strength to the growing recognition of its premium brand, the competitive and compelling products and services, the expanding sales network, and most importantly, the support from its passionate and loyal user community.For 2020, Nio delivered 43,728 vehicles, an increase of 111% year-over-year.The company also managed to rein in costs, giving margins a lift. It also succeeded in mobilizing finances through a combination of equity, debt and strategic investments, removing a key existential risk it faced in 2019.Promptly the stock began discounting the fundamental improvement and closed out 2020 with a gain in excess of 1,100%. The strong rally stretched valuation to levels, with some skeptics beginning to question the irrational exuberance in the stock.Fundamentals, Stock Pause At Start of 2021: Nio had a strong start to the year, as it continued to clock record monthly deliveries in January. The stock raced to a record high of $66.99 on Jan. 11, as it reacted to the announcements the company made at the annual Nio Day held on Jan. 10.Thereafter, it has been a bumpy ride for the stock. Since the start of February, the stock has been caught in the vortex of the tech sell-off. Incidentally, market leader and EV pioneerTesla, Inc.TSLAwas not spared either. Since the all-time split-adjusted high of $900.40 hit in late January, Tesla shares have given back over 30%.Nio investors were pinning their hopes on a stellar fourth-quarter report to lift the stock from the depressed levels. It was not to be. The stock continued to bleed despite the EV maker reporting $1 billion revenues for the quarter and seeing an expansion in gross margins.Naysayers were quick to highlight the wider-than-expected loss and the month-over-month drop in deliveries.As outlined by Deutsche Bank Securities analyst Edison Yu, the underperformance on the bottom line had to do with forex losses, engendered by a weaker dollar.Although initially Nio did not explain away the February softness, it later clarified in a blog post the weeklong Lunar New Year holiday that fell in the month played spoilsport.\"The majority of the employees receive seven days off work as a public holiday to spend time with their families, though the celebrations can last for more than two weeks nationwide. Most of the factories were shut down for weeks, and many products that rely on shipping and manufacturing might have been delayed,\" Nio said in the post.Is Recovery In The Cards: The company has several catalysts ahead, including the launch of its first sedan, named ET7, and its plan to expand into Europe this year. The company is also making solid progress with respect to its advanced driver-assisted system, battery technology and battery swapping stations.With the increasing uptake of its battery-as-a-service offering and its recently announced autonomous driving-as-a-service, the company has laid the groundwork for recurrent revenue streams.This apart, the attractive market opportunity presented by the burgeoning EV market, both domestically and globally, will prove salubrious for the company. There is no denying the fact that EV manufacturing is turning out to be a crowded field. However, early entrants such as Nio are at an advantage, given their experiences in grinding it out in the early stages.Patient investors, who are willing to ride out the trying times, could be in for rich rewards when things settle down.Nio shares closed down 5.5% at $39.28, with the stock dropping below the $40 handle for the first time since mid-December.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":593,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320064982,"gmtCreate":1614991772946,"gmtModify":1703483987464,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Diamond Hands. No fear!!!","listText":"Diamond Hands. No fear!!!","text":"Diamond Hands. No fear!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/320064982","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","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":1614958557,"share":"https://www.laohunote.com/m/news/1169596583?lang=zh_CN&edition=full","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%<blockquote>Palantir 暴跌超过 13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超过13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Palantir plunged more than 13%<blockquote>Palantir 暴跌超过 13%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir plunged more than 13%<blockquote>Palantir 暴跌超过 13%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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 smaller\">2021-03-05 23:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超过13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365420529,"gmtCreate":1614772655761,"gmtModify":1703480905409,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Up &amp; Down… which direction to take?","listText":"Up &amp; Down… which direction to take?","text":"Up & Down… which direction to take?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365420529","isVote":1,"tweetType":1,"viewCount":1153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365990431,"gmtCreate":1614686585623,"gmtModify":1703479844170,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Up Up Up!!! [财迷]&nbsp;","listText":"Up Up Up!!! [财迷]&nbsp;","text":"Up Up Up!!! [财迷]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365990431","repostId":"2116595396","repostType":4,"isVote":1,"tweetType":1,"viewCount":1719,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":366921009,"gmtCreate":1614386143801,"gmtModify":1703477137582,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Buy Buy Buy","listText":"Buy Buy Buy","text":"Buy Buy Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366921009","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363815109,"gmtCreate":1614124758701,"gmtModify":1634551105988,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Bull Run all the way. Diamond hands.&nbsp;","listText":"Bull Run all the way. Diamond hands.&nbsp;","text":"Bull Run all the way. Diamond hands.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363815109","repostId":"1107213324","repostType":4,"repost":{"id":"1107213324","kind":"news","pubTimestamp":1614076514,"share":"https://www.laohunote.com/m/news/1107213324?lang=zh_CN&edition=full","pubTime":"2021-02-23 18:35","market":"us","language":"en","title":"Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否在通胀和债券收益率上升的情况下幸存下来？历史是这样说的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107213324","media":"MarketWatch","summary":"Tech, consumer discretionary and cyclical sectors historically outperform: Raymond JamesRising Treas","content":"<p>Tech, consumer discretionary and cyclical sectors historically outperform: Raymond James</p><p><blockquote>雷蒙德·詹姆斯：科技、非必需消费品和周期性行业历来表现优于大盘</blockquote></p><p>Rising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.</p><p><blockquote>美国国债收益率上升令股市不寒而栗，尤其是对于高涨的科技相关股票而言。但雷蒙德-詹姆斯（Raymond James）认为，历史表明，当收益率 “出于正确的原因 ”上升时，科技股和对周期性敏感的股票往往会蓬勃发展。</blockquote></p><p>The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note&nbsp;to just shy of 1.4%, or&nbsp;about their highest&nbsp;in a year. Yields also are coming off their largest weekly rise in six weeks.</p><p><blockquote>雷蒙德-詹姆斯（Raymond James）私人客户集团首席投资官拉里-亚当（Larry Adam）在周末的一份报告中说，正确的原因是 “经济增长的改善和通胀的'健康'上升”。这些原因导致 10 年期国债收益率略低于 1.4%，约为一年来的最高水平。收益率也出现了六周来的最大单周涨幅。</blockquote></p><p>Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&amp;P 500’s 11 sectors and the percentage of time each sector outperforms the S&amp;P 500 in a rising rate environment.</p><p><blockquote>Adam 重点介绍了下图，该图表细分了标普500 11 个行业的平均年化表现，以及在利率上升的环境下每个行业跑赢标普500的时间百分比。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79c934a97bed5bf56c97af1767cd874e\" tg-width=\"1260\" tg-height=\"564\" referrerpolicy=\"no-referrer\"><span>RAYMOND JAMES</span></p><p><blockquote><p class=\"t-img-caption\"><span>雷蒙德·詹姆斯</span></p></blockquote></p><p>“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&amp;P 500 and the percentage of time it outperforms the S&amp;P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.</p><p><blockquote>“亚当指出：”自 1990 年以来，在利率上升的环境下，周期性较强的行业表现优异。“科技、非必需消费品和工业部门--我们的三个首选行业--的平均年化跑赢标普500和跑赢标普500的时间百分比最大”，而公用事业、房地产和必需消费品等股息收益率较高的行业往往表现不佳。</blockquote></p><p>Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.</p><p><blockquote>周一股市表现好坏参半，纳斯达克 100 指数下跌 2.6%，纳斯达克综合指数下跌 2.5%，跌幅最大。两者都倾向于大盘、科技型股票。</blockquote></p><p>The Dow Jones Industrial Average&nbsp;was positive, while the S&amp;P 500&nbsp;was off 0.8%.</p><p><blockquote>道琼斯工业平均指数上涨，而标普500指数下跌0.8%。</blockquote></p><p>The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.</p><p><blockquote>收益率上升在很大程度上归咎于人们对政府支出增加和超宽松货币政策可能导致通胀飙升的预期。分析师表示，对美联储可能比预期更早开始撤回部分流动性的担忧被认为有助于扰乱股市。</blockquote></p><p>But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.</p><p><blockquote>但亚当认为，通货膨胀不仅不太可能 “短路 ”反弹，而且对股市多头来说可能是一个受欢迎的发展。</blockquote></p><p>“When analyzing how the S&amp;P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.</p><p><blockquote>“他写道：”在分析标普500在不同核心通胀水平下的表现时，在核心通胀率在 1-4% 之间的环境下，股市的表现高于平均水平。</blockquote></p><p>Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.</p><p><blockquote>亚当说，当通胀水平与经济活动改善同时出现时，通常被认为是健康的。原因是公司拥有定价权，使他们能够提高价格，同时还能从生产率提高中获益，这有助于促进盈利增长。</blockquote></p><p>Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&amp;P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).</p><p><blockquote>雷蒙德·詹姆斯预计核心通胀率将在 2% 左右。Adam表示，当核心通胀率在1%至3%之间时，科技（+6.8%）、医疗保健（+2.3%）和非必需消费品行业（+2%）相对于标普500的平均同比表现最为强劲。</blockquote></p><p></p>","source":"market_watch","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>Can the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否在通胀和债券收益率上升的情况下幸存下来？历史是这样说的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCan the bull market in stocks survive rising inflation, bond yields? Here’s what history says<blockquote>股市牛市能否在通胀和债券收益率上升的情况下幸存下来？历史是这样说的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-02-23 18:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tech, consumer discretionary and cyclical sectors historically outperform: Raymond James</p><p><blockquote>雷蒙德·詹姆斯：科技、非必需消费品和周期性行业历来表现优于大盘</blockquote></p><p>Rising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.</p><p><blockquote>美国国债收益率上升令股市不寒而栗，尤其是对于高涨的科技相关股票而言。但雷蒙德-詹姆斯（Raymond James）认为，历史表明，当收益率 “出于正确的原因 ”上升时，科技股和对周期性敏感的股票往往会蓬勃发展。</blockquote></p><p>The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note&nbsp;to just shy of 1.4%, or&nbsp;about their highest&nbsp;in a year. Yields also are coming off their largest weekly rise in six weeks.</p><p><blockquote>雷蒙德-詹姆斯（Raymond James）私人客户集团首席投资官拉里-亚当（Larry Adam）在周末的一份报告中说，正确的原因是 “经济增长的改善和通胀的'健康'上升”。这些原因导致 10 年期国债收益率略低于 1.4%，约为一年来的最高水平。收益率也出现了六周来的最大单周涨幅。</blockquote></p><p>Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&amp;P 500’s 11 sectors and the percentage of time each sector outperforms the S&amp;P 500 in a rising rate environment.</p><p><blockquote>Adam 重点介绍了下图，该图表细分了标普500 11 个行业的平均年化表现，以及在利率上升的环境下每个行业跑赢标普500的时间百分比。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/79c934a97bed5bf56c97af1767cd874e\" tg-width=\"1260\" tg-height=\"564\" referrerpolicy=\"no-referrer\"><span>RAYMOND JAMES</span></p><p><blockquote><p class=\"t-img-caption\"><span>雷蒙德·詹姆斯</span></p></blockquote></p><p>“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&amp;P 500 and the percentage of time it outperforms the S&amp;P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.</p><p><blockquote>“亚当指出：”自 1990 年以来，在利率上升的环境下，周期性较强的行业表现优异。“科技、非必需消费品和工业部门--我们的三个首选行业--的平均年化跑赢标普500和跑赢标普500的时间百分比最大”，而公用事业、房地产和必需消费品等股息收益率较高的行业往往表现不佳。</blockquote></p><p>Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.</p><p><blockquote>周一股市表现好坏参半，纳斯达克 100 指数下跌 2.6%，纳斯达克综合指数下跌 2.5%，跌幅最大。两者都倾向于大盘、科技型股票。</blockquote></p><p>The Dow Jones Industrial Average&nbsp;was positive, while the S&amp;P 500&nbsp;was off 0.8%.</p><p><blockquote>道琼斯工业平均指数上涨，而标普500指数下跌0.8%。</blockquote></p><p>The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.</p><p><blockquote>收益率上升在很大程度上归咎于人们对政府支出增加和超宽松货币政策可能导致通胀飙升的预期。分析师表示，对美联储可能比预期更早开始撤回部分流动性的担忧被认为有助于扰乱股市。</blockquote></p><p>But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.</p><p><blockquote>但亚当认为，通货膨胀不仅不太可能 “短路 ”反弹，而且对股市多头来说可能是一个受欢迎的发展。</blockquote></p><p>“When analyzing how the S&amp;P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.</p><p><blockquote>“他写道：”在分析标普500在不同核心通胀水平下的表现时，在核心通胀率在 1-4% 之间的环境下，股市的表现高于平均水平。</blockquote></p><p>Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.</p><p><blockquote>亚当说，当通胀水平与经济活动改善同时出现时，通常被认为是健康的。原因是公司拥有定价权，使他们能够提高价格，同时还能从生产率提高中获益，这有助于促进盈利增长。</blockquote></p><p>Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&amp;P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).</p><p><blockquote>雷蒙德·詹姆斯预计核心通胀率将在 2% 左右。Adam表示，当核心通胀率在1%至3%之间时，科技（+6.8%）、医疗保健（+2.3%）和非必需消费品行业（+2%）相对于标普500的平均同比表现最为强劲。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/rising-bond-yields-mean-these-stock-market-sectors-have-the-most-to-gain-or-lose-11614014529?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","NDX":"纳斯达克100指数"},"source_url":"https://www.marketwatch.com/story/rising-bond-yields-mean-these-stock-market-sectors-have-the-most-to-gain-or-lose-11614014529?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107213324","content_text":"Tech, consumer discretionary and cyclical sectors historically outperform: Raymond JamesRising Treasury yields are sending shivers through the stock market, particularly for highflying tech-related stocks. But history shows that when yields are rising “for the right reasons,” tech shares and cyclically sensitive stocks tend to thrive, according to Raymond James.The right reasons are “improving economic growth and a ‘healthy’ rise in inflation,” said Larry Adam, chief investment officer for the private client group at Raymond James, in a weekend note. And those reasons have driven the yield on the 10-year Treasury note to just shy of 1.4%, or about their highest in a year. Yields also are coming off their largest weekly rise in six weeks.Adam highlighted the chart below, which breaks down the average annualized performance of each of the S&P 500’s 11 sectors and the percentage of time each sector outperforms the S&P 500 in a rising rate environment.RAYMOND JAMES“Since 1990, during rising rate environments, the more cyclical sectors have outperformed,” Adam noted. “The average annualized outperformance relative to the S&P 500 and the percentage of time it outperforms the S&P 500 is largest for the tech, consumer discretionary and industrials sectors — three of our preferred sectors,” while higher dividend-yielding sectors like utilities, real estate and consumer staples tend to underperform.Stocks wereputting in a mixed performanceon Monday, with the Nasdaq-100,down 2.6%, and the Nasdaq Composite,down 2.5%, suffering the steepest declines. Both are tilted toward large-cap, tech-oriented stocks.The Dow Jones Industrial Average was positive, while the S&P 500 was off 0.8%.The rise in yields is being blamed in large part on expectations for a potential surge in inflation thanks to ramped up government spending and ultraloose monetary policy. Fears that the Federal Reserve could move to begin withdrawing some liquidity sooner than anticipated is seen helping to unsettle stocks, analysts said.But Adam argued that inflation not only is unlikely to “short circuit” the rally, it may be a welcome development for stock-market bulls.“When analyzing how the S&P 500 performed under varying levels of core inflation, equities performed above-average in an environment where core inflation was between 1-4%,” he wrote.Inflation at those levels is generally considered healthy when it coincides with improving economic activity, Adam said. The reason is because companies have pricing power, allowing them to lift prices, while also reaping the benefits from productivity gains, which helps to boost earnings growth.Raymond James expects core inflation to be around 2%. Adam said that when core inflation runs between 1% and 3%, the average performance relative to the S&P 500 on a year-over-year basis has been strongest for the technology (+6.8%), healthcare (+2.3%) and consumer discretionary sectors (+2%).","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"NDX":0.9}},"isVote":1,"tweetType":1,"viewCount":699,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363815052,"gmtCreate":1614124729876,"gmtModify":1634551106347,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Buy on dipped.&nbsp;","listText":"Buy on dipped.&nbsp;","text":"Buy on dipped.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363815052","repostId":"1198320495","repostType":4,"isVote":1,"tweetType":1,"viewCount":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360635968,"gmtCreate":1613900164354,"gmtModify":1634551907784,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Buy or Sell???","listText":"Buy or Sell???","text":"Buy or Sell???","images":[{"img":"https://static.tigerbbs.com/9667eb41aefe0f06624adb52c77cbfee","width":"1125","height":"3020"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360635968","isVote":1,"tweetType":1,"viewCount":801,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":360061730,"gmtCreate":1613796925720,"gmtModify":1634552175984,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[爱心]&nbsp;[看涨]&nbsp;[看涨]&nbsp;[看涨]&nbsp;","listText":"[爱心]&nbsp;[看涨]&nbsp;[看涨]&nbsp;[看涨]&nbsp;","text":"[爱心] [看涨] [看涨] [看涨]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360061730","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":2129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":385695722,"gmtCreate":1613539379466,"gmtModify":1634553235465,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555122349795736","idStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Sell PUtS","listText":"Sell PUtS","text":"Sell PUtS","images":[{"img":"https://static.tigerbbs.com/9b8678b7ff9b9bfd3908cb833f64241f","width":"1125","height":"2230"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/385695722","isVote":1,"tweetType":1,"viewCount":811,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":305627020,"gmtCreate":1604970673360,"gmtModify":1703835507409,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/MRNA\">$Moderna, Inc.(MRNA)$</a>Moderna has been on my watchlist since 2 monthsago. I watched from $70 til now $76. It has been moving steadily uptrend. This is a good buy for investor who planned to hold for a month...","listText":"<a href=\"https://laohu8.com/S/MRNA\">$Moderna, Inc.(MRNA)$</a>Moderna has been on my watchlist since 2 monthsago. I watched from $70 til now $76. It has been moving steadily uptrend. This is a good buy for investor who planned to hold for a month...","text":"$Moderna, Inc.(MRNA)$Moderna has been on my watchlist since 2 monthsago. I watched from $70 til now $76. It has been moving steadily uptrend. This is a good buy for investor who planned to hold for a month...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/305627020","isVote":1,"tweetType":1,"viewCount":1973,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320064982,"gmtCreate":1614991772946,"gmtModify":1703483987464,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Diamond Hands. No fear!!!","listText":"Diamond Hands. No fear!!!","text":"Diamond Hands. No fear!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/320064982","repostId":"1169596583","repostType":4,"repost":{"id":"1169596583","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":1614958557,"share":"https://www.laohunote.com/m/news/1169596583?lang=zh_CN&edition=full","pubTime":"2021-03-05 23:35","market":"us","language":"en","title":"Palantir plunged more than 13%<blockquote>Palantir 暴跌超过 13%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169596583","media":"老虎资讯综合","summary":"(March 5)&nbsp;Palantir plunged more than 13%.","content":"<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超过13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></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>Palantir plunged more than 13%<blockquote>Palantir 暴跌超过 13%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir plunged more than 13%<blockquote>Palantir 暴跌超过 13%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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 smaller\">2021-03-05 23:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Palantir plunged more than 13%.</p><p><blockquote>（3月5日）Palantir暴跌超过13%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/13f756ec57cca85c31b6be070941d7c1\" tg-width=\"1059\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169596583","content_text":"(March 5) Palantir plunged more than 13%.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":545,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322372442,"gmtCreate":1615778098586,"gmtModify":1703492815723,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"i&nbsp;am a subscriber and shareholder too. disney fans!!!","listText":"i&nbsp;am a subscriber and shareholder too. disney fans!!!","text":"i am a subscriber and shareholder too. disney fans!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/322372442","repostId":"1141300773","repostType":4,"isVote":1,"tweetType":1,"viewCount":2547,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322372631,"gmtCreate":1615778065323,"gmtModify":1703492815551,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Looks good. BUY buy buy!!!","listText":"Looks good. BUY buy buy!!!","text":"Looks good. BUY buy buy!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322372631","repostId":"1139451069","repostType":4,"repost":{"id":"1139451069","kind":"news","pubTimestamp":1615777682,"share":"https://www.laohunote.com/m/news/1139451069?lang=zh_CN&edition=full","pubTime":"2021-03-15 11:08","market":"us","language":"en","title":"Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是韩国的亚马逊，但也许更好。现在你可以买股票了。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139451069","media":"Barrons","summary":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in So","content":"<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，我就越想搬到首尔去。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以壮观的方式上市。该公司目前是美国第二大上市公司，仅次于三星电子。这是自 2014 年阿里巴巴集团控股公司以来外国发行人在美国最大的首次公开募股，也是自 2019 年 Uber Technologies 以来最大的美国新股。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang 由哈佛商学院辍学生 Bom Kim 于 2010 年创立，现已成为韩国经济中的一股巨大力量。该公司占全国消费商务的 4%，提供广泛的在线零售服务： ThinkAmazon.com<i>加</i>Instacart、DoorDash 和 Netflix. Coupang 拥有约 5 万名员工，预计到 2025 年将再雇用 5 万名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它有重要的地理优势。韩国是一个精通技术、人口密度极高、人口众多的国家，人口超过5000万。埃里克·金 (Eric Kim) 曾于 2011 年至 2017 年担任 Coupang 董事会成员，同时担任该公司投资者 Maverick Capital 的董事总经理，他指出，韩国的土地面积与印第安纳州大致相同，但人口几乎是印第安纳州的 10 倍。他补充说，除去不适宜居住的山区，所有这些人都挤在罗德岛大小的区域里。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使 Coupang 反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang 表示，70% 的韩国人居住在其配送中心 7 英里范围内。几乎任何商品都可以在当天订购，“黎明送货 ”保证午夜前订购的商品会在早上 7 点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。(亚马逊，让我们拭目以待）Coupang Fresh 是该公司市场领先的在线杂货服务，它将货物装在可重复使用的容器中--将货物放在门口，由 Coupang 15,000 名送货人员中的一名将货物带走重复使用。退货？把它们放在门外——不需要特殊包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年的收入为120亿美元，比上一年增长91%，因为疫情帮助从2019年的55%和2018年的69%加速增长。过去四个季度的增长率均在 90% 以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司正在接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang 去年的利润率为负 2.1%，而前一年为负 8.8%。这反映了保护工人免受疫情影响的一些不寻常的成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为 63.50 美元，使该公司市值达到 1140 亿美元。该股随后走低，周四收盘价略低于每股 50 美元，估值略低于 900 亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang 的股票并不便宜--eBay（eBay）的收入与之相当，但市值不到一半。根据过去 12 个月的销售额，该股的交易价格略高于阿里巴巴-SW (BABA)。但是Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。Coupang 也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和库邦的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018 年，软银愿景基金（该公司于 2016 年成立的 1000 亿美元风险投资组合）又投资了 20 亿美元，这笔交易由愿景基金高管莉迪亚-杰特（Lydia Jett）牵头，她现在是 Coupang 董事会成员。最初的投资被注入愿景基金，总赌注为27亿美元。该股份现在价值 300 亿美元。这是一场巨大的胜利，也可能是由女性风险投资者牵头的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银没有在此次发行中出售任何股票<i>巴伦</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在首次投资 20 多年后，软银仍然是阿里巴巴-SW最大的单一股东。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“杰特说：”我们的目标是长期持有库邦。“在价值 5000 亿美元的零售市场中，还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中扮演的角色却如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。研究IPO市场的佛罗里达大学商学院教授杰伊·里特表示，只有六家韩国科技公司在美国市场上市，都是在1999年至2006年期间。这份名单实际上包括2006年上市的电子商务公司Gmarket，2009年被eBay以12亿美元收购。易贝宣布正在为其韩国业务寻找买家。韩国最知名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>杰特认为，Coupang 交易将成为韩国风险投资市场的一个转折点。她说，人们一直误以为韩国科技公司不够创新。“她说：”那扇门现在已经被炸掉了。“这将改变韩国公司的融资方式。这仅仅是个开始。”</blockquote></p><p></p>","source":"lsy1601382232898","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>Coupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是韩国的亚马逊，但也许更好。现在你可以买股票了。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCoupang Is the Amazon.com of South Korea, but Maybe Even Better. And Now You Can Buy the Stock.<blockquote>Coupang是韩国的亚马逊，但也许更好。现在你可以买股票了。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-15 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The more I learn aboutCoupang,the more I want to move to Seoul.</p><p><blockquote>我对Coupang了解得越多，我就越想搬到首尔去。</blockquote></p><p> The largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.</p><p><blockquote>韩国最大的电子商务公司Coupang（股票代码：CPNG）上周以壮观的方式上市。该公司目前是美国第二大上市公司，仅次于三星电子。这是自 2014 年阿里巴巴集团控股公司以来外国发行人在美国最大的首次公开募股，也是自 2019 年 Uber Technologies 以来最大的美国新股。</blockquote></p><p> Founded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.com<i>plus</i>Instacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.</p><p><blockquote>Coupang 由哈佛商学院辍学生 Bom Kim 于 2010 年创立，现已成为韩国经济中的一股巨大力量。该公司占全国消费商务的 4%，提供广泛的在线零售服务： ThinkAmazon.com<i>加</i>Instacart、DoorDash 和 Netflix. Coupang 拥有约 5 万名员工，预计到 2025 年将再雇用 5 万名韩国人。</blockquote></p><p> Coupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.</p><p><blockquote>Coupang可能像亚马逊，但它有重要的地理优势。韩国是一个精通技术、人口密度极高、人口众多的国家，人口超过5000万。埃里克·金 (Eric Kim) 曾于 2011 年至 2017 年担任 Coupang 董事会成员，同时担任该公司投资者 Maverick Capital 的董事总经理，他指出，韩国的土地面积与印第安纳州大致相同，但人口几乎是印第安纳州的 10 倍。他补充说，除去不适宜居住的山区，所有这些人都挤在罗德岛大小的区域里。</blockquote></p><p> That high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.</p><p><blockquote>这种高密度有助于使 Coupang 反应灵敏。该公司拥有2500万平方英尺的仓库空间，分布在30多个城市的100多个地点。Coupang 表示，70% 的韩国人居住在其配送中心 7 英里范围内。几乎任何商品都可以在当天订购，“黎明送货 ”保证午夜前订购的商品会在早上 7 点前送达。</blockquote></p><p> Coupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.</p><p><blockquote>Coupang还消除了75%的交付对纸箱和气泡包装的需求。(亚马逊，让我们拭目以待）Coupang Fresh 是该公司市场领先的在线杂货服务，它将货物装在可重复使用的容器中--将货物放在门口，由 Coupang 15,000 名送货人员中的一名将货物带走重复使用。退货？把它们放在门外——不需要特殊包装或印刷标签。</blockquote></p><p> Coupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.</p><p><blockquote>Coupang 2020年的收入为120亿美元，比上一年增长91%，因为疫情帮助从2019年的55%和2018年的69%加速增长。过去四个季度的增长率均在 90% 以上。</blockquote></p><p> While not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.</p><p><blockquote>虽然尚未盈利，但该公司正在接近盈利。以调整后的息税折旧摊销前利润衡量，Coupang 去年的利润率为负 2.1%，而前一年为负 8.8%。这反映了保护工人免受疫情影响的一些不寻常的成本。</blockquote></p><p> In the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.</p><p><blockquote>在IPO中，Coupang以每股35美元的价格出售了1.3亿股股票。该股开盘价为 63.50 美元，使该公司市值达到 1140 亿美元。该股随后走低，周四收盘价略低于每股 50 美元，估值略低于 900 亿美元。</blockquote></p><p> Coupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.</p><p><blockquote>Coupang 的股票并不便宜--eBay（eBay）的收入与之相当，但市值不到一半。根据过去 12 个月的销售额，该股的交易价格略高于阿里巴巴-SW (BABA)。但是Coupang有一些明显的优势。阿里巴巴-SW面临着来自拼多多和京东等公司的激烈竞争。Coupang 也没有中国共产党的监视。</blockquote></p><p> One thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.</p><p><blockquote>阿里巴巴-SW和库邦的一个共同点是与软银集团（SFTBY）关系密切——这家日本控股公司是两家公司的最大投资者。</blockquote></p><p> SoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.</p><p><blockquote>软银在2015年向Coupang投资了7亿美元。2018 年，软银愿景基金（该公司于 2016 年成立的 1000 亿美元风险投资组合）又投资了 20 亿美元，这笔交易由愿景基金高管莉迪亚-杰特（Lydia Jett）牵头，她现在是 Coupang 董事会成员。最初的投资被注入愿景基金，总赌注为27亿美元。该股份现在价值 300 亿美元。这是一场巨大的胜利，也可能是由女性风险投资者牵头的交易有史以来最大的退出。</blockquote></p><p> SoftBank did not sell any shares in the offering, and Jett says in an interview with<i>Barron’s</i>that the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.</p><p><blockquote>杰特在接受采访时表示，软银没有在此次发行中出售任何股票<i>巴伦</i>该公司打算成为长期投资者，就像阿里巴巴-SW一样。在首次投资 20 多年后，软银仍然是阿里巴巴-SW最大的单一股东。</blockquote></p><p> “We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”</p><p><blockquote>“杰特说：”我们的目标是长期持有库邦。“在价值 5000 亿美元的零售市场中，还有很大的空间。”</blockquote></p><p></p><p> It seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.</p><p><blockquote>韩国作为世界上技术最先进的国家之一，在美国股市中扮演的角色却如此之小，这似乎很奇怪。Coupang是十多年来第一家在这里上市的韩国科技公司。研究IPO市场的佛罗里达大学商学院教授杰伊·里特表示，只有六家韩国科技公司在美国市场上市，都是在1999年至2006年期间。这份名单实际上包括2006年上市的电子商务公司Gmarket，2009年被eBay以12亿美元收购。易贝宣布正在为其韩国业务寻找买家。韩国最知名的科技和制造公司——三星、LG、现代汽车、起亚、SK海力士——都没有在美国上市。</blockquote></p><p> Jett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”</p><p><blockquote>杰特认为，Coupang 交易将成为韩国风险投资市场的一个转折点。她说，人们一直误以为韩国科技公司不够创新。“她说：”那扇门现在已经被炸掉了。“这将改变韩国公司的融资方式。这仅仅是个开始。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CPNG":"Coupang, Inc."},"source_url":"https://www.barrons.com/articles/coupang-is-the-amazon-com-of-south-korea-but-maybe-even-better-51615590150?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139451069","content_text":"The more I learn aboutCoupang,the more I want to move to Seoul.\nThe largest e-commerce company in South Korea, Coupang (ticker: CPNG), went public this past week in spectacular fashion. It now ranks as the country’s second-largest publicly held company, trailing onlySamsung Electronics.It was the biggest U.S. initial public offering by a foreign issuer sinceAlibaba Group Holdingin 2014, and the biggest U.S. new issue of any kind sinceUber Technologiesin 2019.\nFounded in 2010 by Harvard Business School dropout Bom Kim, Coupang has become a huge force in the South Korean economy. The company accounts for 4% of the country’s consumer commerce, with a broad array of online retailing services: ThinkAmazon.complusInstacart,DoorDash,andNetflix.Coupang has about 50,000 employees and expects to hire another 50,000 Koreans by 2025.\nCoupang may be like Amazon, but it has important geographical advantages. South Korea is a tech-savvy, superdense, highly populated country of more than 50 million people. Eric Kim, who sat on the Coupang board from 2011 to 2017 while a managing director at Maverick Capital, an investor in the company, notes that South Korea has about the same land mass as Indiana—but almost 10 times the population. Take out the uninhabitable mountain regions, he adds, and all of those people are jammed into an area the size of Rhode Island.\nThat high density helps make Coupang superresponsive. The company has 25 million square feet of warehouse space, spread over 100 locations in more than 30 cities. Coupang says that 70% of Koreans live within seven miles of one of its distribution centers. Almost anything can be ordered same-day, and “dawn delivery” assures that goods ordered by midnight are delivered by 7 a.m.\nCoupang has also eliminated the need for cardboard boxes and bubble wrap for 75% of deliveries. (Let’s see you do that, Amazon.) Coupang Fresh, the company’s market-leading online grocery service, ships goods in reusable containers—leave them by the door and they are whisked away by one of Coupang’s 15,000 delivery staff members for reuse. Returning goods? Leave them outside your door—no special packaging or printed label required.\nCoupang had 2020 revenue of $12 billion, up 91% from the previous year, as the pandemic helped accelerate growth from 55% in 2019 and 69% in 2018. Growth was above 90% in each of the past four quarters.\nWhile not profitable yet, the company is getting close. Coupang’s profit margin, as measured by adjusted earnings before interest, taxes, depreciation, and amortization, was minus 2.1% last year, versus minus 8.8% the previous year. And that reflects some unusual costs to protect workers from the pandemic.\nIn the IPO, Coupang sold 130 million shares at $35 apiece. The stock opened for trading at $63.50, giving the company a $114 billion market cap. The stock then drifted lower, closing on Thursday at just under $50 a share, for a valuation just shy of $90 billion.\nCoupang shares aren’t cheap—eBay(EBAY) has comparable revenue and less than half the market cap. And the stock trades at a slight premium to Alibaba (BABA) based on trailing 12-months sales. But Coupang has some distinct advantages. Alibaba faces fierce competition from companies like Pinduoduo andJD.com.Alibaba’s growth rate is less than half that of Coupang. And Coupang doesn’t have the Chinese Communist Party looking over its shoulder.\nOne thing that Alibaba and Coupang have in common is a tight relationship withSoftBank Group(SFTBY)—the Japanese holding company is the largest investor in both companies.\nSoftBank invested $700 million in Coupang in 2015. In 2018, the SoftBank Vision Fund, the company’s $100 billion venture portfolio founded in 2016, invested another $2 billion in a deal led by Lydia Jett, a Vision Fund executive who now sits on the Coupang board. The original investment was rolled into the Vision Fund, for a total bet of $2.7 billion. That stake is now worth $30 billion. It’s a monster win—and possibly the biggest exit ever for a deal led by a woman venture investor.\nSoftBank did not sell any shares in the offering, and Jett says in an interview withBarron’sthat the company intends to be a long-term investor, as it has been with Alibaba. More than 20 years after its initial investment, SoftBank’s remains the single largest holder in Alibaba.\n“We’re set up to hold Coupang for the long term,” Jett says. “There is a lot of room left in what is a $500 billion retail market.”\nIt seems odd that South Korea, one of the world’s most technologically advanced nations, has played such a small role in the U.S. stock market. Coupang was the first Korean tech company to go public here in more than a decade. Jay Ritter, a University of Florida business school professor who studies the IPO market, says just six Korean tech firms have gone public in the U.S. market, all from 1999 to 2006. That list actually includes Gmarket, an e-commerce company that went public in 2006 and was acquired by eBay for $1.2 billion in 2009. EBay has announced that it is seeking a buyer for its Korean business. None of the best-known Korean tech and manufacturing companies—Samsung,LG,Hyundai Motor,Kia,SK Hynix—have U.S. listings.\nJett thinks the Coupang deal will be a turning point for Korea’s venture capital market. She says there has been a misconception that Korean tech companies weren’t innovative enough. “That door has now been blown off,” she says. “This will transform how Korean companies are funded. This is just the beginning.”","news_type":1,"symbols_score_info":{"CPNG":0.9}},"isVote":1,"tweetType":1,"viewCount":2315,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":302187478,"gmtCreate":1604576240794,"gmtModify":1703833861153,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/FUT/ESmain\">$E-mini S&amp;P 500 - main(ESmain)$</a>Be careful if you are taking a long position. It’s getting weaker each day.&nbsp;Expecting S&amp;P to be going uptrend from today til tomorrow. Prepare to offload your long position&nbsp;few hours&nbsp;before market close on Friday. Predict futures may&nbsp;tank&nbsp;before Friday&nbsp;closing or on Monday.&nbsp;","listText":"<a href=\"https://laohu8.com/FUT/ESmain\">$E-mini S&amp;P 500 - main(ESmain)$</a>Be careful if you are taking a long position. It’s getting weaker each day.&nbsp;Expecting S&amp;P to be going uptrend from today til tomorrow. Prepare to offload your long position&nbsp;few hours&nbsp;before market close on Friday. Predict futures may&nbsp;tank&nbsp;before Friday&nbsp;closing or on Monday.&nbsp;","text":"$E-mini S&P 500 - main(ESmain)$Be careful if you are taking a long position. It’s getting weaker each day. Expecting S&P to be going uptrend from today til tomorrow. Prepare to offload your long position few hours before market close on Friday. Predict futures may tank before Friday closing or on Monday.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/302187478","isVote":1,"tweetType":1,"viewCount":1002,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379131189,"gmtCreate":1618704240741,"gmtModify":1634291394128,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[What]&nbsp;","listText":"[What]&nbsp;","text":"[What]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379131189","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohunote.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></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>$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1,"symbols_score_info":{".IXIC":0.9,"SPY":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":2398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346777880,"gmtCreate":1618120182340,"gmtModify":1634294798006,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"[警告]&nbsp;[警告]&nbsp;[警告]&nbsp;","listText":"[警告]&nbsp;[警告]&nbsp;[警告]&nbsp;","text":"[警告] [警告] [警告]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346777880","repostId":"1171250660","repostType":4,"isVote":1,"tweetType":1,"viewCount":3080,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":357186506,"gmtCreate":1617246597705,"gmtModify":1634521822805,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"Shall wait and see for now… anot much hype thesefew days.&nbsp;","listText":"Shall wait and see for now… anot much hype thesefew days.&nbsp;","text":"Shall wait and see for now… anot much hype thesefew days.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/357186506","repostId":"2124208563","repostType":4,"isVote":1,"tweetType":1,"viewCount":2299,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":306489021,"gmtCreate":1604449514663,"gmtModify":1703833161160,"author":{"id":"3555122349795736","authorId":"3555122349795736","name":"klchua78","avatar":"https://static.tigerbbs.com/2caa379c29ceb64315cbdd5c456bef0c","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555122349795736","authorIdStr":"3555122349795736"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/FSLY\">$Fastly, Inc.(FSLY)$</a>At the lowest demand zone. Buyers are slowly loading into this potential stock that will recover over time.&nbsp;","listText":"<a href=\"https://laohu8.com/S/FSLY\">$Fastly, Inc.(FSLY)$</a>At the lowest demand zone. Buyers are slowly loading into this potential stock that will recover over time.&nbsp;","text":"$Fastly, Inc.(FSLY)$At the lowest demand zone. Buyers are slowly loading into this potential stock that will recover over time.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/306489021","isVote":1,"tweetType":1,"viewCount":1100,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}