weifeng_86的个人主页 - 老虎社区

weifeng_86

weifeng_86

暂无个人介绍

IP属地：未知

26关注

23粉丝

0主题

0勋章

2021-04-19

LnC pls

抱歉，原内容已删除

2021-10-10

Nice

抱歉，原内容已删除

2021-06-10

Like n comment pls

U.S. stocks end lower ahead of inflation report<blockquote>美股在通胀报告公布前收低</blockquote>

2021-05-30

Like n comment pls

抱歉，原内容已删除

2021-05-18

Like n comment pls

抱歉，原内容已删除

2021-06-19

Like n comment pls

抱歉，原内容已删除

2021-06-01

Like n comment pls

Here Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的11家IPO</blockquote>

2021-12-25

thanks

抱歉，原内容已删除

2021-06-27

Like n comment pls

抱歉，原内容已删除

2021-06-18

Like n comment pls

Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>

2021-06-09

Like n comment pls

S&P 500 closes little changed as "meme stocks" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</blockquote>

2021-06-06

Like n comment pls

U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>

2021-05-27

Reply pls

抱歉，原内容已删除

2021-04-21

Like n comment

抱歉，原内容已删除

2021-04-19

Nice

Stocks To Watch: Apple Event, Disney Callout And Earnings Blitz<blockquote>值得关注的股票：苹果活动、迪士尼预告和盈利闪电战</blockquote>

2021-09-14

Gogo

EV stocks rose in morning trading<blockquote>电动汽车股早盘上涨</blockquote>

2021-08-25

Like

抱歉，原内容已删除

2021-08-22

Risk is increasing

Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>

2021-06-30

Comment n like pls

抱歉，原内容已删除

2021-05-19

Like n comment pls

4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3563679388810703","uuid":"3563679388810703","gmtCreate":1600587149532,"gmtModify":1619965854428,"name":"weifeng_86","pinyin":"weifeng86weifeng86","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":23,"headSize":26,"tweetSize":143,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"228c86a078844d74991fff2b7ab2428d-3","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资合伙人虎","description":"证券账户累计交易金额达到100万美元","bigImgUrl":"https://static.tigerbbs.com/fbeac6bb240db7da8b972e5183d050ba","smallImgUrl":"https://static.tigerbbs.com/436cdf80292b99f0a992e78750ac4e3a","grayImgUrl":"https://static.tigerbbs.com/506a259a7b456f037592c3b23c779599","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"93.24%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.09.17","exceedPercentage":"93.87%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-1","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"出道虎友","description":"加入老虎社区500天","bigImgUrl":"https://static.tigerbbs.com/0e4d0ca1da0456dc7894c946d44bf9ab","smallImgUrl":"https://static.tigerbbs.com/0f2f65e8ce4cfaae8db2bea9b127f58b","grayImgUrl":"https://static.tigerbbs.com/c5948a31b6edf154422335b265235809","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2022.02.03","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":12,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"hot","tweets":[{"id":696770454,"gmtCreate":1640782526543,"gmtModify":1640782526908,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Lol i will buy","listText":"Lol i will buy","text":"Lol i will buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696770454","repostId":"2195545489","repostType":4,"isVote":1,"tweetType":1,"viewCount":1981,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696391043,"gmtCreate":1640614993700,"gmtModify":1640614993966,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Uptrend","listText":"Uptrend","text":"Uptrend","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696391043","repostId":"1185167492","repostType":4,"repost":{"id":"1185167492","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640609888,"share":"https://www.laohu8.com/m/news/1185167492?lang=zh_CN&edition=full","pubTime":"2021-12-27 20:58","market":"us","language":"en","title":"Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185167492","media":"Tiger Newspress","summary":"U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Om","content":"<p>U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week.</p><p><blockquote>在大型企业的提振下，美国股指期货周一小幅走高，而数百起奥密克戎导致的航班取消事件让投资者在今年最后一个交易周开始时感到紧张。</blockquote></p><p> Travel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans.</p><p><blockquote>由于COVID-19病例激增迫使圣诞节周末旅行者改变计划，美国航空公司周日连续第三天取消了许多航班，通常对冠状病毒新闻敏感的旅游相关股票下跌。</blockquote></p><p> The S&amp;P 500 closed at a record high on Thursday, as upbeat news related to the Omicron coronavirus variant calmed investor nerves over the highly infection strain's economic impact after it upended markets earlier this month.</p><p><blockquote>标普500周四收于历史新高，与Omicron冠状病毒变种相关的乐观消息安抚了投资者对这种高传染性菌株在本月早些时候颠覆市场后对经济影响的紧张情绪。</blockquote></p><p> Wall Street's three main indexes are eyeing a third straight yearly gain, with the benchmark S&amp;P 500 (.SPX) on track to close out the year 25.8% higher. The Dow is set to rise 17.5%, while the Nasdaq is looking at a 21.4% climb.</p><p><blockquote>华尔街三大主要股指有望连续第三年上涨，基准标普500(.SPX)今年收盘有望上涨25.8%。道琼斯指数预计上涨17.5%，而纳斯达克预计上涨21.4%。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were up 72 points, or 0.20% and S&amp;P 500 e-minis were up 15.50 points, or 0.33%.</p><p><blockquote>截至美国东部时间上午8:00，道琼斯电子迷你指数上涨72点，涨幅0.20%，标普500电子迷你指数上涨15.50点，涨幅0.33%。</blockquote></p><p> Nasdaq 100 e-minis were up 70.00 points, or 0.43% as megacap companies Tesla Inc (TSLA.O) and Microsoft Corp (MSFT.O) and Meta Platform (FB.O) firmed between 0.5% and 1%.Airline stocks – The major carriers saw their shares fall in the premarket after a surge in weekend cancellations due to staffing issues. United Airlines (UAL) slid 1.8%, American Airlines (AAL) fell 1.4%, Delta Air Lines (DAL) was down 1% and Southwest (LUV) declined 1.5%.</p><p><blockquote>纳斯达克100 e-mini上涨70.00点，即0.43%，大型企业特斯拉公司(TSLA.O)和微软公司(MSFT.O)和Meta Platform(FB.O)坚挺0.5%至1%。航空股——由于人员配备问题，周末取消航班激增，主要航空公司的股价在盘前下跌。联合航空(UAL)下跌1.8%，美国航空(AAL)下跌1.4%，达美航空(DAL)下跌1%，西南航空(LUV)下跌1.5%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09541de8c4bcd965c62dbe3f6b7f6bc5\" tg-width=\"649\" tg-height=\"205\" width=\"100%\" height=\"auto\"><span>*Source From Tiger Trade, EST 08:00</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:00</span></p></blockquote></p><p> <b>Stocks making the biggest moves premarket</b></p><p><blockquote><b>盘前涨幅最大的股票</b></blockquote></p><p> Cruise line stocks – Stocks of major cruise lines declined in premarket trading following three Covid-19 outbreaks in the past week on ships operated by Carnival (CCL) and Royal Caribbean (RCL). Carnival slid 2.2% in the premarket, while Royal Caribbean lost 1.9% and Norwegian Cruise Line Holdings (NCLH) slid 1.6%.</p><p><blockquote>邮轮公司股票——嘉年华(CCL)和皇家加勒比(RCL)运营的船舶上周爆发三次Covid-19疫情后，主要邮轮公司的股票在盘前交易中下跌。嘉年华盘前下跌2.2%，皇家加勒比下跌1.9%，挪威邮轮控股(NCLH)下跌1.6%。</blockquote></p><p> Grab（GRAB）–&nbsp;Grab stock climbed more than 7% in premarket trading&nbsp;as&nbsp;Wall Street saw massive upside for Asian tech giant Grab, after disappointing debut.</p><p><blockquote>Grab(GRAB)-Grab股价在盘前交易中上涨超过7%，华尔街认为亚洲科技巨头Grab在首次亮相令人失望后有巨大上涨空间。</blockquote></p><p> GoDaddy (GDDY) – GoDaddy jumped 3.9% in premarket action after the Wall Street Journal reported that activist investor Starboard Value had taken a 6.5% stake in the internet domain name registration company.</p><p><blockquote>GoDaddy(GDDY)——《华尔街日报》报道激进投资者Starboard Value持有互联网域名注册公司6.5%的股份后，GoDaddy在盘前股价上涨3.9%。</blockquote></p><p> Apple (AAPL) – Apple was cited by the top competition regulator in the Netherlands, which said the company broke competition laws, and ordered changes to Apple’s App Store payment policies. Apple said it would appeal the ruling.</p><p><blockquote>苹果（AAPL）——荷兰最高竞争监管机构援引苹果的话说，该公司违反了竞争法，并下令改变苹果的应用商店支付政策。苹果表示将对裁决提出上诉。</blockquote></p><p> Cigna (CI) – The insurer will reaffirm its 2021 and 2022 earnings guidance at its upcoming investor meetings, according to an SEC filing. Cigna expected 2021 adjusted earnings of at least $20.35 per share and sees projected growth of at least 10% for 2022.</p><p><blockquote>Cigna(CI)——根据SEC提交的文件，该保险公司将在即将举行的投资者会议上重申其2021年和2022年的盈利指引。Cigna预计2021年调整后每股收益至少为20.35美元，预计2022年增长至少10%。</blockquote></p><p> Moderna (MRNA) – The drugmaker is fighting a shareholder proposal that the company open up its vaccine technology to poorer countries, according to a report in the Financial Times. The proposal calls on Moderna to explain why its prices are so high in light of the amount of government financial support it has received. Moderna fell 2% in the premarket.</p><p><blockquote>Moderna(MRNA)——据英国《金融时报》报道，该制药商正在反对股东向较贫穷国家开放其疫苗技术的提议。该提案要求评级Moderna解释为什么鉴于其获得的政府财政支持金额，其价格如此之高。Moderna盘前下跌2%。</blockquote></p><p> Avis Budget (CAR) – The car rental firm’s shares jumped 2.6% in premarket trading, following a 3.2% gain Thursday. Average daily rental rates are at $81 per day, according to travel firm Kayak. That’s up 31% from a year ago.</p><p><blockquote>Avis Budget(CAR)——这家汽车租赁公司的股价继周四上涨3.2%后，在盘前交易中上涨2.6%。根据旅游公司Kayak的数据，平均日租金为每天81美元。这比一年前增长了31%。</blockquote></p><p> Didi Global (DIDI) – Didi fell 1.3% in the premarket after the Financial Times reported that the China-based ride-hailing company is blocking employees from selling the shares for an indefinite period. That follows the company’s move to delist in the United States.</p><p><blockquote>滴滴出行(DIDI)——英国《金融时报》报道称，这家总部位于中国的网约车公司正在无限期阻止员工出售股票，滴滴出行盘前下跌1.3%。此前，该公司已在美国退市。</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>Toplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</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\">\nToplines Before US Market Open on Monday<blockquote>周一美国市场开盘前的顶线</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-27 20:58</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week.</p><p><blockquote>在大型企业的提振下，美国股指期货周一小幅走高，而数百起奥密克戎导致的航班取消事件让投资者在今年最后一个交易周开始时感到紧张。</blockquote></p><p> Travel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans.</p><p><blockquote>由于COVID-19病例激增迫使圣诞节周末旅行者改变计划，美国航空公司周日连续第三天取消了许多航班，通常对冠状病毒新闻敏感的旅游相关股票下跌。</blockquote></p><p> The S&amp;P 500 closed at a record high on Thursday, as upbeat news related to the Omicron coronavirus variant calmed investor nerves over the highly infection strain's economic impact after it upended markets earlier this month.</p><p><blockquote>标普500周四收于历史新高，与Omicron冠状病毒变种相关的乐观消息安抚了投资者对这种高传染性菌株在本月早些时候颠覆市场后对经济影响的紧张情绪。</blockquote></p><p> Wall Street's three main indexes are eyeing a third straight yearly gain, with the benchmark S&amp;P 500 (.SPX) on track to close out the year 25.8% higher. The Dow is set to rise 17.5%, while the Nasdaq is looking at a 21.4% climb.</p><p><blockquote>华尔街三大主要股指有望连续第三年上涨，基准标普500(.SPX)今年收盘有望上涨25.8%。道琼斯指数预计上涨17.5%，而纳斯达克预计上涨21.4%。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were up 72 points, or 0.20% and S&amp;P 500 e-minis were up 15.50 points, or 0.33%.</p><p><blockquote>截至美国东部时间上午8:00，道琼斯电子迷你指数上涨72点，涨幅0.20%，标普500电子迷你指数上涨15.50点，涨幅0.33%。</blockquote></p><p> Nasdaq 100 e-minis were up 70.00 points, or 0.43% as megacap companies Tesla Inc (TSLA.O) and Microsoft Corp (MSFT.O) and Meta Platform (FB.O) firmed between 0.5% and 1%.Airline stocks – The major carriers saw their shares fall in the premarket after a surge in weekend cancellations due to staffing issues. United Airlines (UAL) slid 1.8%, American Airlines (AAL) fell 1.4%, Delta Air Lines (DAL) was down 1% and Southwest (LUV) declined 1.5%.</p><p><blockquote>纳斯达克100 e-mini上涨70.00点，即0.43%，大型企业特斯拉公司(TSLA.O)和微软公司(MSFT.O)和Meta Platform(FB.O)坚挺0.5%至1%。航空股——由于人员配备问题，周末取消航班激增，主要航空公司的股价在盘前下跌。联合航空(UAL)下跌1.8%，美国航空(AAL)下跌1.4%，达美航空(DAL)下跌1%，西南航空(LUV)下跌1.5%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09541de8c4bcd965c62dbe3f6b7f6bc5\" tg-width=\"649\" tg-height=\"205\" width=\"100%\" height=\"auto\"><span>*Source From Tiger Trade, EST 08:00</span></p><p><blockquote><p class=\"t-img-caption\"><span>*来源自Tiger Trade，美国东部时间08:00</span></p></blockquote></p><p> <b>Stocks making the biggest moves premarket</b></p><p><blockquote><b>盘前涨幅最大的股票</b></blockquote></p><p> Cruise line stocks – Stocks of major cruise lines declined in premarket trading following three Covid-19 outbreaks in the past week on ships operated by Carnival (CCL) and Royal Caribbean (RCL). Carnival slid 2.2% in the premarket, while Royal Caribbean lost 1.9% and Norwegian Cruise Line Holdings (NCLH) slid 1.6%.</p><p><blockquote>邮轮公司股票——嘉年华(CCL)和皇家加勒比(RCL)运营的船舶上周爆发三次Covid-19疫情后，主要邮轮公司的股票在盘前交易中下跌。嘉年华盘前下跌2.2%，皇家加勒比下跌1.9%，挪威邮轮控股(NCLH)下跌1.6%。</blockquote></p><p> Grab（GRAB）–&nbsp;Grab stock climbed more than 7% in premarket trading&nbsp;as&nbsp;Wall Street saw massive upside for Asian tech giant Grab, after disappointing debut.</p><p><blockquote>Grab(GRAB)-Grab股价在盘前交易中上涨超过7%，华尔街认为亚洲科技巨头Grab在首次亮相令人失望后有巨大上涨空间。</blockquote></p><p> GoDaddy (GDDY) – GoDaddy jumped 3.9% in premarket action after the Wall Street Journal reported that activist investor Starboard Value had taken a 6.5% stake in the internet domain name registration company.</p><p><blockquote>GoDaddy(GDDY)——《华尔街日报》报道激进投资者Starboard Value持有互联网域名注册公司6.5%的股份后，GoDaddy在盘前股价上涨3.9%。</blockquote></p><p> Apple (AAPL) – Apple was cited by the top competition regulator in the Netherlands, which said the company broke competition laws, and ordered changes to Apple’s App Store payment policies. Apple said it would appeal the ruling.</p><p><blockquote>苹果（AAPL）——荷兰最高竞争监管机构援引苹果的话说，该公司违反了竞争法，并下令改变苹果的应用商店支付政策。苹果表示将对裁决提出上诉。</blockquote></p><p> Cigna (CI) – The insurer will reaffirm its 2021 and 2022 earnings guidance at its upcoming investor meetings, according to an SEC filing. Cigna expected 2021 adjusted earnings of at least $20.35 per share and sees projected growth of at least 10% for 2022.</p><p><blockquote>Cigna(CI)——根据SEC提交的文件，该保险公司将在即将举行的投资者会议上重申其2021年和2022年的盈利指引。Cigna预计2021年调整后每股收益至少为20.35美元，预计2022年增长至少10%。</blockquote></p><p> Moderna (MRNA) – The drugmaker is fighting a shareholder proposal that the company open up its vaccine technology to poorer countries, according to a report in the Financial Times. The proposal calls on Moderna to explain why its prices are so high in light of the amount of government financial support it has received. Moderna fell 2% in the premarket.</p><p><blockquote>Moderna(MRNA)——据英国《金融时报》报道，该制药商正在反对股东向较贫穷国家开放其疫苗技术的提议。该提案要求评级Moderna解释为什么鉴于其获得的政府财政支持金额，其价格如此之高。Moderna盘前下跌2%。</blockquote></p><p> Avis Budget (CAR) – The car rental firm’s shares jumped 2.6% in premarket trading, following a 3.2% gain Thursday. Average daily rental rates are at $81 per day, according to travel firm Kayak. That’s up 31% from a year ago.</p><p><blockquote>Avis Budget(CAR)——这家汽车租赁公司的股价继周四上涨3.2%后，在盘前交易中上涨2.6%。根据旅游公司Kayak的数据，平均日租金为每天81美元。这比一年前增长了31%。</blockquote></p><p> Didi Global (DIDI) – Didi fell 1.3% in the premarket after the Financial Times reported that the China-based ride-hailing company is blocking employees from selling the shares for an indefinite period. That follows the company’s move to delist in the United States.</p><p><blockquote>滴滴出行(DIDI)——英国《金融时报》报道称，这家总部位于中国的网约车公司正在无限期阻止员工出售股票，滴滴出行盘前下跌1.3%。此前，该公司已在美国退市。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185167492","content_text":"U.S. stock index futures inched higher on Monday, boosted by megacap companies, while hundreds of Omicron-driven flight cancellations kept investors on edge at the start of this year's final trading week.\nTravel-related stocks, typically sensitive to news around the coronavirus, slid after U.S. airlines called off many flights for a third day on Sunday as surging COVID-19 cases forced Christmas weekend travelers to change plans.\nThe S&P 500 closed at a record high on Thursday, as upbeat news related to the Omicron coronavirus variant calmed investor nerves over the highly infection strain's economic impact after it upended markets earlier this month.\nWall Street's three main indexes are eyeing a third straight yearly gain, with the benchmark S&P 500 (.SPX) on track to close out the year 25.8% higher. The Dow is set to rise 17.5%, while the Nasdaq is looking at a 21.4% climb.\nAt 8:00 a.m. ET, Dow e-minis were up 72 points, or 0.20% and S&P 500 e-minis were up 15.50 points, or 0.33%.\nNasdaq 100 e-minis were up 70.00 points, or 0.43% as megacap companies Tesla Inc (TSLA.O) and Microsoft Corp (MSFT.O) and Meta Platform (FB.O) firmed between 0.5% and 1%.Airline stocks – The major carriers saw their shares fall in the premarket after a surge in weekend cancellations due to staffing issues. United Airlines (UAL) slid 1.8%, American Airlines (AAL) fell 1.4%, Delta Air Lines (DAL) was down 1% and Southwest (LUV) declined 1.5%.\n*Source From Tiger Trade, EST 08:00\nStocks making the biggest moves premarket\nCruise line stocks – Stocks of major cruise lines declined in premarket trading following three Covid-19 outbreaks in the past week on ships operated by Carnival (CCL) and Royal Caribbean (RCL). Carnival slid 2.2% in the premarket, while Royal Caribbean lost 1.9% and Norwegian Cruise Line Holdings (NCLH) slid 1.6%.\nGrab（GRAB）– Grab stock climbed more than 7% in premarket trading as Wall Street saw massive upside for Asian tech giant Grab, after disappointing debut.\nGoDaddy (GDDY) – GoDaddy jumped 3.9% in premarket action after the Wall Street Journal reported that activist investor Starboard Value had taken a 6.5% stake in the internet domain name registration company.\n\nApple (AAPL) – Apple was cited by the top competition regulator in the Netherlands, which said the company broke competition laws, and ordered changes to Apple’s App Store payment policies. Apple said it would appeal the ruling.\n\nCigna (CI) – The insurer will reaffirm its 2021 and 2022 earnings guidance at its upcoming investor meetings, according to an SEC filing. Cigna expected 2021 adjusted earnings of at least $20.35 per share and sees projected growth of at least 10% for 2022.\n\nModerna (MRNA) – The drugmaker is fighting a shareholder proposal that the company open up its vaccine technology to poorer countries, according to a report in the Financial Times. The proposal calls on Moderna to explain why its prices are so high in light of the amount of government financial support it has received. Moderna fell 2% in the premarket.\n\nAvis Budget (CAR) – The car rental firm’s shares jumped 2.6% in premarket trading, following a 3.2% gain Thursday. Average daily rental rates are at $81 per day, according to travel firm Kayak. That’s up 31% from a year ago.\n\nDidi Global (DIDI) – Didi fell 1.3% in the premarket after the Financial Times reported that the China-based ride-hailing company is blocking employees from selling the shares for an indefinite period. That follows the company’s move to delist in the United States.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1954,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698227726,"gmtCreate":1640415314432,"gmtModify":1640415314672,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"thanks","listText":"thanks","text":"thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/698227726","repostId":"2193917872","repostType":4,"isVote":1,"tweetType":1,"viewCount":2562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698894719,"gmtCreate":1640332761044,"gmtModify":1640332761284,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Congrats to those who added","listText":"Congrats to those who added","text":"Congrats to those who added","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698894719","repostId":"2193078140","repostType":4,"isVote":1,"tweetType":1,"viewCount":2078,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691878065,"gmtCreate":1640176245368,"gmtModify":1640176246356,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Too soon","listText":"Too soon","text":"Too soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/691878065","repostId":"1156776760","repostType":4,"isVote":1,"tweetType":1,"viewCount":2466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693447461,"gmtCreate":1640070929191,"gmtModify":1640070929434,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"&nbsp;Buy","listText":"&nbsp;Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693447461","repostId":"1117226796","repostType":4,"repost":{"id":"1117226796","kind":"news","pubTimestamp":1640057164,"share":"https://www.laohu8.com/m/news/1117226796?lang=zh_CN&edition=full","pubTime":"2021-12-21 11:26","market":"us","language":"en","title":"Palantir: 3 Reasons Against It And Why It's Still A Buy<blockquote>Palantir：反对它的3个理由以及为什么它仍然值得买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117226796","media":"Seeking Alpha","summary":"Summary\n\nPalantir Technologies is a battleground stock. Listening to the bears' arguments is a good ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir Technologies is a battleground stock. Listening to the bears' arguments is a good idea for bulls.</li>  <li>PLTR dilutes its shareholders, but that is not necessarily a huge problem.</li>  <li>Despite some interest rate headwinds, PLTR seems like a good investment to me, thanks to a strong moat and great growth outlook.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7230cdd890b86f9941b99b1503d04049\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>spxChrome/E+ via Getty Images</span></p><p><blockquote><ul><li>Palantir Technologies是一只战场股票。听空头的论点对多头来说是个好主意。</li><li>PLTR稀释了其股东，但这不一定是一个大问题。</li><li>尽管存在一些利率阻力，但PLTR对我来说似乎是一项不错的投资，这要归功于强大的护城河和巨大的增长前景。</li></ul><p class=\"t-img-caption\"><span>spxChrome/E+来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Palantir Technologies (PLTR) is an embattled growth stock, and in recent weeks, bears have been winning as shares continued to decline. There are, indeed some important bear arguments, such as dilution, reliance on government contracts, and rising interest rates. I do, however, still believe that Palantir Technologies is an attractive long-term investment, due to the act that its technology could lead to massive growth for many years to come.</p><p><blockquote>Palantir Technologies(PLTR)是一只陷入困境的成长型股票，最近几周，随着股价持续下跌，空头一直在获胜。确实有一些重要的看跌论点，例如稀释、对政府合同的依赖以及利率上升。然而，我仍然相信Palantir Technologies是一项有吸引力的长期投资，因为其技术可能会在未来许多年带来巨大增长。</blockquote></p><p> <b>3 Issues Brought Up By Bears</b></p><p><blockquote><b>空头提出的3个问题</b></blockquote></p><p> Palantir is a growth stock that brings out highly convinced bulls as well as highly convinced bears. Generally, I am in the bullish camp here, but taking a look at the bear arguments can be a good idea as well. Three of the most common arguments against Palantir are the following ones:</p><p><blockquote>Palantir是一只成长型股票，可以带来高度确信的多头和高度确信的空头。总的来说，我在这里是看涨阵营，但看看看跌的论点也是一个好主意。反对Palantir的三个最常见的论点如下：</blockquote></p><p> <b>1. Shareholder Dilution</b></p><p><blockquote><b>1.股东稀释</b></blockquote></p><p> Growth on a company-wide basis is important, but growth on a per-share basis is even more important. There are many examples that show that changes in a company's share count can create or destroy a lot of shareholder value. Apple (AAPL), for example, has seen its net income grow by roughly 190% over the last decade:</p><p><blockquote>全公司的增长很重要，但每股的增长更重要。有许多例子表明，公司股票数量的变化可以创造或破坏大量股东价值。例如，苹果(AAPL)的净利润在过去十年中增长了约190%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b5263c8346cfbbb898f1d1ac9a5bead\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Thanks to a declining share count, its earnings per share rose by a much more attractive 350%, however -- buybacks created a lot of shareholder value. There are also examples where a rising share count destroyed a lot of shareholder value, e.g. at Citigroup (C):</p><p><blockquote>然而，由于股票数量下降，其每股收益增长了更具吸引力的350%——回购创造了大量股东价值。也有股票数量增加破坏了大量股东价值的例子，例如花旗集团（C）：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc39008812f5e2d0082dedc95b025c68\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Massive share issuance during the Great Recession has resulted in a 75% earnings per share decline since 2007, even though net profits were up over the same time frame. Looking at the changes in a company's share count thus makes sense, as those changes can have a large impact in the long run. At Palantir, we see that the share count has been rising considerably since the company went public. During the most recent quarter, Palantir's share count looked like this:</p><p><blockquote>自2007年以来，大衰退期间的大规模股票发行导致每股收益下降75%，尽管同期净利润有所增长。因此，关注公司股票数量的变化是有意义的，因为从长远来看，这些变化可能会产生很大的影响。在Palantir，我们看到自公司上市以来，股票数量一直在大幅增加。最近一个季度，Palantir的股票数量如下所示：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/917ca4d7a390ced61d7c92d528f84fc1\" tg-width=\"640\" tg-height=\"539\" width=\"100%\" height=\"auto\"><span>Source: Palantir Press Release</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir新闻稿</span></p></blockquote></p><p> Compared to the second quarter, Palantir's average share count was&nbsp;1.895 billion, which makes for a 3.5% quarterly increase, which pencils out to an annual growth rate in the mid-teens. That is, of course, not negligible at all, and bears to have an argument when they state that shareholders get diluted at a meaningful pace. On the other hand, Palantir's business growth rate is way higher than 3% per quarter, as the company has guided for ~40% revenue growth this year, and since Palantir should also deliver outsized business growth in the coming years. Even if Palantir's share count were to climb by 10%-15% a year going forward, revenue per share would still climb by 25%+ a year thanks to the fact that PLTR is growing rapidly. I also believe that dilution will, over the years, decline. Not only has this been the case at many other growth companies, e.g. Amazon (AMZN), Alphabet (GOOG), or Meta (FB), but it is also logical from an option rewards perspective. Option rewards are especially generous when a company is not yet publicly traded and when its future is still more uncertain, but as a company matures, employees get more comfortable as risks for the company decline, and they do not demand large option packages any longer. Last but not least, Palantir also generates strong free cash flows that should allow the company to do share buybacks in the future, which should help improve the dilution rate as well.</p><p><blockquote>与第二季度相比，Palantir的平均股票数量为18.95亿股，季度增长3.5%，年增长率在十几岁左右。当然，这一点根本不可忽视，当他们说股东以有意义的速度被稀释时，就值得争论。另一方面，Palantir的业务增长率远高于每季度3%，因为该公司预计今年的收入增长约为40%，而且Palantir也应该在未来几年实现巨大的业务增长。即使Palantir的股票数量未来每年增长10%-15%，由于PLTR的快速增长，每股收入仍将每年增长25%以上。我还相信，随着时间的推移，稀释度将会下降。这不仅适用于许多其他成长型公司，例如亚马逊（AMZN）、Alphabet（GOOG）或Meta（FB），但从期权回报的角度来看，这也是合乎逻辑的。当一家公司尚未公开交易且其未来仍然更加不确定时，期权奖励尤其丰厚，但随着公司成熟，随着公司风险的下降，员工会变得更加舒适，他们不再要求大笔期权套餐。最后但并非最不重要的是，Palantir还产生了强劲的自由现金流，这应该使该公司能够在未来进行股票回购，这也应该有助于提高稀释率。</blockquote></p><p> <b>2. Reliance on government contracts</b></p><p><blockquote><b>2.对政府合同的依赖</b></blockquote></p><p></p><p> In a recent bearish&nbsp;article, fellow Seeking Alpha contributor On The Pulse argued that Palantir was overvalued and that its reliance on government contracts was an issue. Palantir Technologies is, indeed, reliant on government contracts to a large degree today, but I do not believe that this is a major issue. First, Palantir has diversified away from government contracts in the recent past, thanks to massive growth in its commercial business:</p><p><blockquote>在最近的一篇看跌文章中，The Pulse的Seeking Alpha撰稿人认为Palantir被高估，其对政府合同的依赖是一个问题。Palantir Technologies如今确实在很大程度上依赖政府合同，但我不认为这是一个主要问题。首先，由于商业业务的大幅增长，Palantir最近实现了多元化，摆脱了政府合同：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de23409915ee3811691b986a42ece899\" tg-width=\"640\" tg-height=\"308\" width=\"100%\" height=\"auto\"><span>Source: Palantir Technologies presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir技术演示</span></p></blockquote></p><p> In fact, Palantir's commercial business has been growing much faster than its government business in the recent past, which shows that commercial customers from all kinds of industries apparently see a lot of value in Palantir's technology -- otherwise, they wouldn't be buying at a rapid pace. With</p><p><blockquote>事实上，Palantir的商业业务近年来的增长速度远远快于其政府业务，这表明来自各个行业的商业客户显然看到了Palantir技术的巨大价值——否则，他们不会购买Palantir技术。速度很快。和</blockquote></p><p> With the commercial business growth rate outpacing the government business growth rate, Palantir will, over the years, become a company that is less and less dependent on government contracts, and that will ultimately turn into a B2B-focused software/technology player. Even if Palantir were to remain a government-focused company forever, which seems unlikely based on the current growth rates of the individual business units, that would not necessarily be an issue. Working for the government means that there is very little counterparty risk and that existing relations can easily be used to get future contracts. Last but not least, with government budgets rising relatively steadily, good government connections allow for considerable growth opportunities -- especially in the defense tech/security tech space Palantir is active in, as there is a huge need for further investments in this space.</p><p><blockquote>随着商业业务增长率超过政府业务增长率，Palantir将在多年后成为一家越来越不依赖政府合同的公司，并最终成为一家专注于B2B的软件/技术公司。即使Palantir永远是一家以政府为中心的公司（根据各个业务部门目前的增长率，这似乎不太可能），但这也不一定是一个问题。为政府工作意味着交易对手风险很小，现有关系可以很容易地用来获得未来的合同。最后但并非最不重要的一点是，随着政府预算相对稳定地增长，良好的政府关系带来了相当大的增长机会——特别是在Palantir活跃的国防技术/安全技术领域，因为该领域非常需要进一步投资。</blockquote></p><p> The claim that a government focus leads to lacking scalability is also false, I believe. Per Palantir's most recent quarterly report (linked above), its operating expenses rose by $9 million between Q3 2020 and Q3 2021 -- whereas revenues rose by $103 million in the same time frame. This backs out changes in share-based compensation. If one were to include those SBC expenses, Palantir's expenses actually<i>declined</i>year-over-year while the company managed to grow its revenue by close to 40%. The claim that Palantir will not generate any scale advantages over the years thus seems to be unfounded, I believe. Instead, the data suggest that Palantir will be able to grow its margins considerably -- the company was able to grow its adjusted gross profit by a massive $90 million while growing its adjusted operating expenses by just $9 million -- making for excellent operating leverage.</p><p><blockquote>我认为，政府关注导致缺乏可扩展性的说法也是错误的。根据Palantir最新的季度报告（上面链接），2020年第三季度至2021年第三季度期间，其运营费用增加了900万美元，而同期收入增加了1.03亿美元。这抵消了股权激励的变化。如果将这些SBC费用包括在内，Palantir的费用实际上<i>拒绝</i>而该公司的收入同比增长了近40%。因此，我认为Palantir多年来不会产生任何规模优势的说法似乎是没有根据的。相反，数据表明Palantir将能够大幅提高其利润率——该公司调整后毛利润大幅增长9000万美元，而调整后运营费用仅增长900万美元——从而实现出色的运营杠杆。</blockquote></p><p> <b>3. Exposure to rising rates</b></p><p><blockquote><b>3.利率上升的风险</b></blockquote></p><p> Massive inflation will force the Fed to raise rates in 2022 and beyond, and that could be an issue for growth stocks. Companies that are not profitable today, or that have the vast majority of their profits in the distant future, are more exposed to a rising discount rate compared to companies that have low or no growth and that generate a large amount of all future profits in the near term. This could result in outperformance of value stocks versus growth stocks in the coming years, I believe. Palantir, which is not profitable yet, naturally belongs in the \"growth\" bucket that could see an above-average impact from rising interest rates. There is no real counter-argument here, I believe -- it is indeed true that the impact of rising rates on Palantir, all else equal, will be larger compared to a value stock like AbbVie (ABBV), for example.</p><p><blockquote>大规模通胀将迫使美联储在2022年及以后加息，这可能是成长型股票的一个问题。与增长较低或没有增长且在短期内产生大量未来利润的公司相比，今天不盈利或绝大多数利润在遥远未来的公司更容易面临贴现率上升的风险。我相信，这可能会导致未来几年价值股优于成长股。Palantir尚未盈利，自然属于“增长”类别，利率上升可能会产生高于平均水平的影响。我认为，这里没有真正的反驳——确实，在其他条件相同的情况下，利率上升对Palantir的影响将比艾伯维(ABBV)等价值股更大。</blockquote></p><p> This being an incremental negative for Palantir doesn't mean that shares have to be avoided under any circumstances, however. Indeed, even despite some potential headwinds from rising rates, Palantir could still be an attractive investment if other arguments have a larger weight -- I believe this to be true, as I see PLTR's massive growth potential and huge moat outweighing some near-term headwinds from rising rates.</p><p><blockquote>然而，这对Palantir来说是一个增量负面影响，并不意味着在任何情况下都必须避免股票。事实上，即使利率上升带来了一些潜在的阻力，如果其他论点具有更大的权重，Palantir仍然可能是一项有吸引力的投资——我相信这是真的，因为我认为PLTR巨大的增长潜力和巨大的护城河超过了近期的一些阻力来自利率上升。</blockquote></p><p> <b>Why Palantir Is Still Attractive</b></p><p><blockquote><b>为什么Palantir仍然有吸引力</b></blockquote></p><p> Bears bring up a range of arguments against Palantir, and as shown above, those can have merit. I believe that they might be overblown in some cases, but taking a look at the bear's arguments doesn't hurt -- in fact, it seems like a good idea to look at both sides in order to make a more informed decision. Dilution is indeed an issue, although I do not believe that this will be too much of a headwind, since PLTR's business growth easily outpaces dilution and since dilution, overall, should slow down over the years. Government reliance will wane over the years due to an above-average commercial business growth rate, and in general, doing business with the government is not a bad thing anyway. The claim that PLTR lacks scalability seems to be false, from what I see in PLTR's data.</p><p><blockquote>看空者提出了一系列反对Palantir的论点，如上所示，这些论点可能有其优点。我相信在某些情况下他们可能被夸大了，但看看空头的论点并没有什么坏处——事实上，为了做出更明智的决定，看看双方似乎是个好主意。稀释确实是一个问题，尽管我不认为这会是太大的阻力，因为PLTR的业务增长很容易超过稀释，而且总体而言，稀释应该会在几年内放缓。由于高于平均水平的商业业务增长率，对政府的依赖将会随着时间的推移而减弱，总的来说，与政府做生意无论如何都不是一件坏事。从我在PLTR的数据中看到的来看，PLTR缺乏可扩展性的说法似乎是错误的。</blockquote></p><p></p><p> Palantir is, despite these arguments, attractive, I believe: The company is growing rapidly, has decades-long growth potential in both its government business as well as on the commercial side, and Palantir seems to have a very wide moat. This combination could turn Palantir into one of the largest and most important companies eventually -- although investors shouldn't expect this to happen in the very near term. Instead, I believe that there is a good chance that Palantir will grow at a considerable rate throughout the 2020s and beyond, as our world becomes ever more data-hungry -- both governments, as well as enterprises, will try to get the most value out of all of this data, and Palantir, with its tailored solutions, will be there to offer that value to its customers. With new tools such as the recently-showcased&nbsp;Foundry&nbsp;for crypto, Palantir is at the forefront of all kinds of emerging technologies. Thanks to the fact that Palantir has access to top talent -- the result of SBC and of an&nbsp;excellent working environment-- I believe that there is a good chance that Palantir will be able to be highly competitive in all kinds of future markets in the Big Data/AI space that may not even exist yet.</p><p><blockquote>尽管有这些论点，我相信Palantir仍然很有吸引力：该公司发展迅速，在政府业务和商业方面都具有数十年的增长潜力，而且Palantir似乎拥有非常宽的护城河。这种合并最终可能会将Palantir变成最大、最重要的公司之一——尽管投资者不应指望这种情况会在短期内发生。相反，我相信Palantir很有可能在整个2020年代及以后以相当大的速度增长，因为我们的世界变得越来越需要数据——政府和企业都将努力获得最大的价值从所有这些数据中获得，Palantir将凭借其量身定制的解决方案，为其客户提供这种价值。凭借最近展示的Foundry for Crypto等新工具，Palantir处于各种新兴技术的前沿。由于Palantir能够接触到顶尖人才——SBC的结果和良好的工作环境——我相信Palantir很有可能能够在未来的各种市场中具有高度竞争力。大数据/人工智能领域可能还不存在。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> In general, I am not much of a growth investor -- instead, I primarily focus on attractively priced stocks with strong cash flows, oftentimes those that pay dividends. Palantir, however, is somewhat of an outlier in my portfolio -- it's a growth stock, it is not really profitable yet, and most of its potential is years away. Due to the highly attractive combination of a massive market opportunity, excellent talent, and a wide moat, Palantir still seems like an attractive long-term investment to me. This isn't a stock that will make investors rich quickly, but I believe that there is a very good chance that Palantir will turn into a very dominant, important company over the next 10+ years. At 19x next year's revenue, PLTR is not cheap, but when we expect that the company will grow at a strong rate for many years, that also doesn't seem outlandish to me at all. It makes sense to listen to the bears' arguments, but I believe that the pros outweigh the cons here.</p><p><blockquote>总的来说，我不是一个成长型投资者——相反，我主要关注价格有吸引力、现金流强劲的股票，通常是那些支付股息的股票。然而，Palantir在我的投资组合中有点异类——它是一只成长型股票，尚未真正盈利，而且其大部分潜力还需要数年时间。由于巨大的市场机会、优秀的人才和宽阔的护城河的极具吸引力的组合，Palantir对我来说仍然是一项有吸引力的长期投资。这不是一只能让投资者快速致富的股票，但我相信Palantir很有可能在未来10多年成为一家非常占主导地位的重要公司。PLTR明年收入的19倍并不便宜，但当我们预计该公司将在许多年内以强劲的速度增长时，这对我来说一点也不奇怪。听空头的论点是有道理的，但我相信这里利大于弊。</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: 3 Reasons Against It And Why It's Still A Buy<blockquote>Palantir：反对它的3个理由以及为什么它仍然值得买入</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: 3 Reasons Against It And Why It's Still A Buy<blockquote>Palantir：反对它的3个理由以及为什么它仍然值得买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-21 11:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir Technologies is a battleground stock. Listening to the bears' arguments is a good idea for bulls.</li>  <li>PLTR dilutes its shareholders, but that is not necessarily a huge problem.</li>  <li>Despite some interest rate headwinds, PLTR seems like a good investment to me, thanks to a strong moat and great growth outlook.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7230cdd890b86f9941b99b1503d04049\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>spxChrome/E+ via Getty Images</span></p><p><blockquote><ul><li>Palantir Technologies是一只战场股票。听空头的论点对多头来说是个好主意。</li><li>PLTR稀释了其股东，但这不一定是一个大问题。</li><li>尽管存在一些利率阻力，但PLTR对我来说似乎是一项不错的投资，这要归功于强大的护城河和巨大的增长前景。</li></ul><p class=\"t-img-caption\"><span>spxChrome/E+来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Palantir Technologies (PLTR) is an embattled growth stock, and in recent weeks, bears have been winning as shares continued to decline. There are, indeed some important bear arguments, such as dilution, reliance on government contracts, and rising interest rates. I do, however, still believe that Palantir Technologies is an attractive long-term investment, due to the act that its technology could lead to massive growth for many years to come.</p><p><blockquote>Palantir Technologies(PLTR)是一只陷入困境的成长型股票，最近几周，随着股价持续下跌，空头一直在获胜。确实有一些重要的看跌论点，例如稀释、对政府合同的依赖以及利率上升。然而，我仍然相信Palantir Technologies是一项有吸引力的长期投资，因为其技术可能会在未来许多年带来巨大增长。</blockquote></p><p> <b>3 Issues Brought Up By Bears</b></p><p><blockquote><b>空头提出的3个问题</b></blockquote></p><p> Palantir is a growth stock that brings out highly convinced bulls as well as highly convinced bears. Generally, I am in the bullish camp here, but taking a look at the bear arguments can be a good idea as well. Three of the most common arguments against Palantir are the following ones:</p><p><blockquote>Palantir是一只成长型股票，可以带来高度确信的多头和高度确信的空头。总的来说，我在这里是看涨阵营，但看看看跌的论点也是一个好主意。反对Palantir的三个最常见的论点如下：</blockquote></p><p> <b>1. Shareholder Dilution</b></p><p><blockquote><b>1.股东稀释</b></blockquote></p><p> Growth on a company-wide basis is important, but growth on a per-share basis is even more important. There are many examples that show that changes in a company's share count can create or destroy a lot of shareholder value. Apple (AAPL), for example, has seen its net income grow by roughly 190% over the last decade:</p><p><blockquote>全公司的增长很重要，但每股的增长更重要。有许多例子表明，公司股票数量的变化可以创造或破坏大量股东价值。例如，苹果(AAPL)的净利润在过去十年中增长了约190%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b5263c8346cfbbb898f1d1ac9a5bead\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Thanks to a declining share count, its earnings per share rose by a much more attractive 350%, however -- buybacks created a lot of shareholder value. There are also examples where a rising share count destroyed a lot of shareholder value, e.g. at Citigroup (C):</p><p><blockquote>然而，由于股票数量下降，其每股收益增长了更具吸引力的350%——回购创造了大量股东价值。也有股票数量增加破坏了大量股东价值的例子，例如花旗集团（C）：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc39008812f5e2d0082dedc95b025c68\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Massive share issuance during the Great Recession has resulted in a 75% earnings per share decline since 2007, even though net profits were up over the same time frame. Looking at the changes in a company's share count thus makes sense, as those changes can have a large impact in the long run. At Palantir, we see that the share count has been rising considerably since the company went public. During the most recent quarter, Palantir's share count looked like this:</p><p><blockquote>自2007年以来，大衰退期间的大规模股票发行导致每股收益下降75%，尽管同期净利润有所增长。因此，关注公司股票数量的变化是有意义的，因为从长远来看，这些变化可能会产生很大的影响。在Palantir，我们看到自公司上市以来，股票数量一直在大幅增加。最近一个季度，Palantir的股票数量如下所示：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/917ca4d7a390ced61d7c92d528f84fc1\" tg-width=\"640\" tg-height=\"539\" width=\"100%\" height=\"auto\"><span>Source: Palantir Press Release</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir新闻稿</span></p></blockquote></p><p> Compared to the second quarter, Palantir's average share count was&nbsp;1.895 billion, which makes for a 3.5% quarterly increase, which pencils out to an annual growth rate in the mid-teens. That is, of course, not negligible at all, and bears to have an argument when they state that shareholders get diluted at a meaningful pace. On the other hand, Palantir's business growth rate is way higher than 3% per quarter, as the company has guided for ~40% revenue growth this year, and since Palantir should also deliver outsized business growth in the coming years. Even if Palantir's share count were to climb by 10%-15% a year going forward, revenue per share would still climb by 25%+ a year thanks to the fact that PLTR is growing rapidly. I also believe that dilution will, over the years, decline. Not only has this been the case at many other growth companies, e.g. Amazon (AMZN), Alphabet (GOOG), or Meta (FB), but it is also logical from an option rewards perspective. Option rewards are especially generous when a company is not yet publicly traded and when its future is still more uncertain, but as a company matures, employees get more comfortable as risks for the company decline, and they do not demand large option packages any longer. Last but not least, Palantir also generates strong free cash flows that should allow the company to do share buybacks in the future, which should help improve the dilution rate as well.</p><p><blockquote>与第二季度相比，Palantir的平均股票数量为18.95亿股，季度增长3.5%，年增长率在十几岁左右。当然，这一点根本不可忽视，当他们说股东以有意义的速度被稀释时，就值得争论。另一方面，Palantir的业务增长率远高于每季度3%，因为该公司预计今年的收入增长约为40%，而且Palantir也应该在未来几年实现巨大的业务增长。即使Palantir的股票数量未来每年增长10%-15%，由于PLTR的快速增长，每股收入仍将每年增长25%以上。我还相信，随着时间的推移，稀释度将会下降。这不仅适用于许多其他成长型公司，例如亚马逊（AMZN）、Alphabet（GOOG）或Meta（FB），但从期权回报的角度来看，这也是合乎逻辑的。当一家公司尚未公开交易且其未来仍然更加不确定时，期权奖励尤其丰厚，但随着公司成熟，随着公司风险的下降，员工会变得更加舒适，他们不再要求大笔期权套餐。最后但并非最不重要的是，Palantir还产生了强劲的自由现金流，这应该使该公司能够在未来进行股票回购，这也应该有助于提高稀释率。</blockquote></p><p> <b>2. Reliance on government contracts</b></p><p><blockquote><b>2.对政府合同的依赖</b></blockquote></p><p></p><p> In a recent bearish&nbsp;article, fellow Seeking Alpha contributor On The Pulse argued that Palantir was overvalued and that its reliance on government contracts was an issue. Palantir Technologies is, indeed, reliant on government contracts to a large degree today, but I do not believe that this is a major issue. First, Palantir has diversified away from government contracts in the recent past, thanks to massive growth in its commercial business:</p><p><blockquote>在最近的一篇看跌文章中，The Pulse的Seeking Alpha撰稿人认为Palantir被高估，其对政府合同的依赖是一个问题。Palantir Technologies如今确实在很大程度上依赖政府合同，但我不认为这是一个主要问题。首先，由于商业业务的大幅增长，Palantir最近实现了多元化，摆脱了政府合同：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de23409915ee3811691b986a42ece899\" tg-width=\"640\" tg-height=\"308\" width=\"100%\" height=\"auto\"><span>Source: Palantir Technologies presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir技术演示</span></p></blockquote></p><p> In fact, Palantir's commercial business has been growing much faster than its government business in the recent past, which shows that commercial customers from all kinds of industries apparently see a lot of value in Palantir's technology -- otherwise, they wouldn't be buying at a rapid pace. With</p><p><blockquote>事实上，Palantir的商业业务近年来的增长速度远远快于其政府业务，这表明来自各个行业的商业客户显然看到了Palantir技术的巨大价值——否则，他们不会购买Palantir技术。速度很快。和</blockquote></p><p> With the commercial business growth rate outpacing the government business growth rate, Palantir will, over the years, become a company that is less and less dependent on government contracts, and that will ultimately turn into a B2B-focused software/technology player. Even if Palantir were to remain a government-focused company forever, which seems unlikely based on the current growth rates of the individual business units, that would not necessarily be an issue. Working for the government means that there is very little counterparty risk and that existing relations can easily be used to get future contracts. Last but not least, with government budgets rising relatively steadily, good government connections allow for considerable growth opportunities -- especially in the defense tech/security tech space Palantir is active in, as there is a huge need for further investments in this space.</p><p><blockquote>随着商业业务增长率超过政府业务增长率，Palantir将在多年后成为一家越来越不依赖政府合同的公司，并最终成为一家专注于B2B的软件/技术公司。即使Palantir永远是一家以政府为中心的公司（根据各个业务部门目前的增长率，这似乎不太可能），但这也不一定是一个问题。为政府工作意味着交易对手风险很小，现有关系可以很容易地用来获得未来的合同。最后但并非最不重要的一点是，随着政府预算相对稳定地增长，良好的政府关系带来了相当大的增长机会——特别是在Palantir活跃的国防技术/安全技术领域，因为该领域非常需要进一步投资。</blockquote></p><p> The claim that a government focus leads to lacking scalability is also false, I believe. Per Palantir's most recent quarterly report (linked above), its operating expenses rose by $9 million between Q3 2020 and Q3 2021 -- whereas revenues rose by $103 million in the same time frame. This backs out changes in share-based compensation. If one were to include those SBC expenses, Palantir's expenses actually<i>declined</i>year-over-year while the company managed to grow its revenue by close to 40%. The claim that Palantir will not generate any scale advantages over the years thus seems to be unfounded, I believe. Instead, the data suggest that Palantir will be able to grow its margins considerably -- the company was able to grow its adjusted gross profit by a massive $90 million while growing its adjusted operating expenses by just $9 million -- making for excellent operating leverage.</p><p><blockquote>我认为，政府关注导致缺乏可扩展性的说法也是错误的。根据Palantir最新的季度报告（上面链接），2020年第三季度至2021年第三季度期间，其运营费用增加了900万美元，而同期收入增加了1.03亿美元。这抵消了股权激励的变化。如果将这些SBC费用包括在内，Palantir的费用实际上<i>拒绝</i>而该公司的收入同比增长了近40%。因此，我认为Palantir多年来不会产生任何规模优势的说法似乎是没有根据的。相反，数据表明Palantir将能够大幅提高其利润率——该公司调整后毛利润大幅增长9000万美元，而调整后运营费用仅增长900万美元——从而实现出色的运营杠杆。</blockquote></p><p> <b>3. Exposure to rising rates</b></p><p><blockquote><b>3.利率上升的风险</b></blockquote></p><p> Massive inflation will force the Fed to raise rates in 2022 and beyond, and that could be an issue for growth stocks. Companies that are not profitable today, or that have the vast majority of their profits in the distant future, are more exposed to a rising discount rate compared to companies that have low or no growth and that generate a large amount of all future profits in the near term. This could result in outperformance of value stocks versus growth stocks in the coming years, I believe. Palantir, which is not profitable yet, naturally belongs in the \"growth\" bucket that could see an above-average impact from rising interest rates. There is no real counter-argument here, I believe -- it is indeed true that the impact of rising rates on Palantir, all else equal, will be larger compared to a value stock like AbbVie (ABBV), for example.</p><p><blockquote>大规模通胀将迫使美联储在2022年及以后加息，这可能是成长型股票的一个问题。与增长较低或没有增长且在短期内产生大量未来利润的公司相比，今天不盈利或绝大多数利润在遥远未来的公司更容易面临贴现率上升的风险。我相信，这可能会导致未来几年价值股优于成长股。Palantir尚未盈利，自然属于“增长”类别，利率上升可能会产生高于平均水平的影响。我认为，这里没有真正的反驳——确实，在其他条件相同的情况下，利率上升对Palantir的影响将比艾伯维(ABBV)等价值股更大。</blockquote></p><p> This being an incremental negative for Palantir doesn't mean that shares have to be avoided under any circumstances, however. Indeed, even despite some potential headwinds from rising rates, Palantir could still be an attractive investment if other arguments have a larger weight -- I believe this to be true, as I see PLTR's massive growth potential and huge moat outweighing some near-term headwinds from rising rates.</p><p><blockquote>然而，这对Palantir来说是一个增量负面影响，并不意味着在任何情况下都必须避免股票。事实上，即使利率上升带来了一些潜在的阻力，如果其他论点具有更大的权重，Palantir仍然可能是一项有吸引力的投资——我相信这是真的，因为我认为PLTR巨大的增长潜力和巨大的护城河超过了近期的一些阻力来自利率上升。</blockquote></p><p> <b>Why Palantir Is Still Attractive</b></p><p><blockquote><b>为什么Palantir仍然有吸引力</b></blockquote></p><p> Bears bring up a range of arguments against Palantir, and as shown above, those can have merit. I believe that they might be overblown in some cases, but taking a look at the bear's arguments doesn't hurt -- in fact, it seems like a good idea to look at both sides in order to make a more informed decision. Dilution is indeed an issue, although I do not believe that this will be too much of a headwind, since PLTR's business growth easily outpaces dilution and since dilution, overall, should slow down over the years. Government reliance will wane over the years due to an above-average commercial business growth rate, and in general, doing business with the government is not a bad thing anyway. The claim that PLTR lacks scalability seems to be false, from what I see in PLTR's data.</p><p><blockquote>看空者提出了一系列反对Palantir的论点，如上所示，这些论点可能有其优点。我相信在某些情况下他们可能被夸大了，但看看空头的论点并没有什么坏处——事实上，为了做出更明智的决定，看看双方似乎是个好主意。稀释确实是一个问题，尽管我不认为这会是太大的阻力，因为PLTR的业务增长很容易超过稀释，而且总体而言，稀释应该会在几年内放缓。由于高于平均水平的商业业务增长率，对政府的依赖将会随着时间的推移而减弱，总的来说，与政府做生意无论如何都不是一件坏事。从我在PLTR的数据中看到的来看，PLTR缺乏可扩展性的说法似乎是错误的。</blockquote></p><p></p><p> Palantir is, despite these arguments, attractive, I believe: The company is growing rapidly, has decades-long growth potential in both its government business as well as on the commercial side, and Palantir seems to have a very wide moat. This combination could turn Palantir into one of the largest and most important companies eventually -- although investors shouldn't expect this to happen in the very near term. Instead, I believe that there is a good chance that Palantir will grow at a considerable rate throughout the 2020s and beyond, as our world becomes ever more data-hungry -- both governments, as well as enterprises, will try to get the most value out of all of this data, and Palantir, with its tailored solutions, will be there to offer that value to its customers. With new tools such as the recently-showcased&nbsp;Foundry&nbsp;for crypto, Palantir is at the forefront of all kinds of emerging technologies. Thanks to the fact that Palantir has access to top talent -- the result of SBC and of an&nbsp;excellent working environment-- I believe that there is a good chance that Palantir will be able to be highly competitive in all kinds of future markets in the Big Data/AI space that may not even exist yet.</p><p><blockquote>尽管有这些论点，我相信Palantir仍然很有吸引力：该公司发展迅速，在政府业务和商业方面都具有数十年的增长潜力，而且Palantir似乎拥有非常宽的护城河。这种合并最终可能会将Palantir变成最大、最重要的公司之一——尽管投资者不应指望这种情况会在短期内发生。相反，我相信Palantir很有可能在整个2020年代及以后以相当大的速度增长，因为我们的世界变得越来越需要数据——政府和企业都将努力获得最大的价值从所有这些数据中获得，Palantir将凭借其量身定制的解决方案，为其客户提供这种价值。凭借最近展示的Foundry for Crypto等新工具，Palantir处于各种新兴技术的前沿。由于Palantir能够接触到顶尖人才——SBC的结果和良好的工作环境——我相信Palantir很有可能能够在未来的各种市场中具有高度竞争力。大数据/人工智能领域可能还不存在。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> In general, I am not much of a growth investor -- instead, I primarily focus on attractively priced stocks with strong cash flows, oftentimes those that pay dividends. Palantir, however, is somewhat of an outlier in my portfolio -- it's a growth stock, it is not really profitable yet, and most of its potential is years away. Due to the highly attractive combination of a massive market opportunity, excellent talent, and a wide moat, Palantir still seems like an attractive long-term investment to me. This isn't a stock that will make investors rich quickly, but I believe that there is a very good chance that Palantir will turn into a very dominant, important company over the next 10+ years. At 19x next year's revenue, PLTR is not cheap, but when we expect that the company will grow at a strong rate for many years, that also doesn't seem outlandish to me at all. It makes sense to listen to the bears' arguments, but I believe that the pros outweigh the cons here.</p><p><blockquote>总的来说，我不是一个成长型投资者——相反，我主要关注价格有吸引力、现金流强劲的股票，通常是那些支付股息的股票。然而，Palantir在我的投资组合中有点异类——它是一只成长型股票，尚未真正盈利，而且其大部分潜力还需要数年时间。由于巨大的市场机会、优秀的人才和宽阔的护城河的极具吸引力的组合，Palantir对我来说仍然是一项有吸引力的长期投资。这不是一只能让投资者快速致富的股票，但我相信Palantir很有可能在未来10多年成为一家非常占主导地位的重要公司。PLTR明年收入的19倍并不便宜，但当我们预计该公司将在许多年内以强劲的速度增长时，这对我来说一点也不奇怪。听空头的论点是有道理的，但我相信这里利大于弊。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475960-palantir-3-reasons-against-it-and-why-its-still-a-buy\">Seeking Alpha</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":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4475960-palantir-3-reasons-against-it-and-why-its-still-a-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117226796","content_text":"Summary\n\nPalantir Technologies is a battleground stock. Listening to the bears' arguments is a good idea for bulls.\nPLTR dilutes its shareholders, but that is not necessarily a huge problem.\nDespite some interest rate headwinds, PLTR seems like a good investment to me, thanks to a strong moat and great growth outlook.\n\nspxChrome/E+ via Getty Images\nArticle Thesis\nPalantir Technologies (PLTR) is an embattled growth stock, and in recent weeks, bears have been winning as shares continued to decline. There are, indeed some important bear arguments, such as dilution, reliance on government contracts, and rising interest rates. I do, however, still believe that Palantir Technologies is an attractive long-term investment, due to the act that its technology could lead to massive growth for many years to come.\n3 Issues Brought Up By Bears\nPalantir is a growth stock that brings out highly convinced bulls as well as highly convinced bears. Generally, I am in the bullish camp here, but taking a look at the bear arguments can be a good idea as well. Three of the most common arguments against Palantir are the following ones:\n1. Shareholder Dilution\nGrowth on a company-wide basis is important, but growth on a per-share basis is even more important. There are many examples that show that changes in a company's share count can create or destroy a lot of shareholder value. Apple (AAPL), for example, has seen its net income grow by roughly 190% over the last decade:\nData by YCharts\nThanks to a declining share count, its earnings per share rose by a much more attractive 350%, however -- buybacks created a lot of shareholder value. There are also examples where a rising share count destroyed a lot of shareholder value, e.g. at Citigroup (C):\nData by YCharts\nMassive share issuance during the Great Recession has resulted in a 75% earnings per share decline since 2007, even though net profits were up over the same time frame. Looking at the changes in a company's share count thus makes sense, as those changes can have a large impact in the long run. At Palantir, we see that the share count has been rising considerably since the company went public. During the most recent quarter, Palantir's share count looked like this:\nSource: Palantir Press Release\nCompared to the second quarter, Palantir's average share count was 1.895 billion, which makes for a 3.5% quarterly increase, which pencils out to an annual growth rate in the mid-teens. That is, of course, not negligible at all, and bears to have an argument when they state that shareholders get diluted at a meaningful pace. On the other hand, Palantir's business growth rate is way higher than 3% per quarter, as the company has guided for ~40% revenue growth this year, and since Palantir should also deliver outsized business growth in the coming years. Even if Palantir's share count were to climb by 10%-15% a year going forward, revenue per share would still climb by 25%+ a year thanks to the fact that PLTR is growing rapidly. I also believe that dilution will, over the years, decline. Not only has this been the case at many other growth companies, e.g. Amazon (AMZN), Alphabet (GOOG), or Meta (FB), but it is also logical from an option rewards perspective. Option rewards are especially generous when a company is not yet publicly traded and when its future is still more uncertain, but as a company matures, employees get more comfortable as risks for the company decline, and they do not demand large option packages any longer. Last but not least, Palantir also generates strong free cash flows that should allow the company to do share buybacks in the future, which should help improve the dilution rate as well.\n2. Reliance on government contracts\nIn a recent bearish article, fellow Seeking Alpha contributor On The Pulse argued that Palantir was overvalued and that its reliance on government contracts was an issue. Palantir Technologies is, indeed, reliant on government contracts to a large degree today, but I do not believe that this is a major issue. First, Palantir has diversified away from government contracts in the recent past, thanks to massive growth in its commercial business:\nSource: Palantir Technologies presentation\nIn fact, Palantir's commercial business has been growing much faster than its government business in the recent past, which shows that commercial customers from all kinds of industries apparently see a lot of value in Palantir's technology -- otherwise, they wouldn't be buying at a rapid pace. With\nWith the commercial business growth rate outpacing the government business growth rate, Palantir will, over the years, become a company that is less and less dependent on government contracts, and that will ultimately turn into a B2B-focused software/technology player. Even if Palantir were to remain a government-focused company forever, which seems unlikely based on the current growth rates of the individual business units, that would not necessarily be an issue. Working for the government means that there is very little counterparty risk and that existing relations can easily be used to get future contracts. Last but not least, with government budgets rising relatively steadily, good government connections allow for considerable growth opportunities -- especially in the defense tech/security tech space Palantir is active in, as there is a huge need for further investments in this space.\nThe claim that a government focus leads to lacking scalability is also false, I believe. Per Palantir's most recent quarterly report (linked above), its operating expenses rose by $9 million between Q3 2020 and Q3 2021 -- whereas revenues rose by $103 million in the same time frame. This backs out changes in share-based compensation. If one were to include those SBC expenses, Palantir's expenses actuallydeclinedyear-over-year while the company managed to grow its revenue by close to 40%. The claim that Palantir will not generate any scale advantages over the years thus seems to be unfounded, I believe. Instead, the data suggest that Palantir will be able to grow its margins considerably -- the company was able to grow its adjusted gross profit by a massive $90 million while growing its adjusted operating expenses by just $9 million -- making for excellent operating leverage.\n3. Exposure to rising rates\nMassive inflation will force the Fed to raise rates in 2022 and beyond, and that could be an issue for growth stocks. Companies that are not profitable today, or that have the vast majority of their profits in the distant future, are more exposed to a rising discount rate compared to companies that have low or no growth and that generate a large amount of all future profits in the near term. This could result in outperformance of value stocks versus growth stocks in the coming years, I believe. Palantir, which is not profitable yet, naturally belongs in the \"growth\" bucket that could see an above-average impact from rising interest rates. There is no real counter-argument here, I believe -- it is indeed true that the impact of rising rates on Palantir, all else equal, will be larger compared to a value stock like AbbVie (ABBV), for example.\nThis being an incremental negative for Palantir doesn't mean that shares have to be avoided under any circumstances, however. Indeed, even despite some potential headwinds from rising rates, Palantir could still be an attractive investment if other arguments have a larger weight -- I believe this to be true, as I see PLTR's massive growth potential and huge moat outweighing some near-term headwinds from rising rates.\nWhy Palantir Is Still Attractive\nBears bring up a range of arguments against Palantir, and as shown above, those can have merit. I believe that they might be overblown in some cases, but taking a look at the bear's arguments doesn't hurt -- in fact, it seems like a good idea to look at both sides in order to make a more informed decision. Dilution is indeed an issue, although I do not believe that this will be too much of a headwind, since PLTR's business growth easily outpaces dilution and since dilution, overall, should slow down over the years. Government reliance will wane over the years due to an above-average commercial business growth rate, and in general, doing business with the government is not a bad thing anyway. The claim that PLTR lacks scalability seems to be false, from what I see in PLTR's data.\nPalantir is, despite these arguments, attractive, I believe: The company is growing rapidly, has decades-long growth potential in both its government business as well as on the commercial side, and Palantir seems to have a very wide moat. This combination could turn Palantir into one of the largest and most important companies eventually -- although investors shouldn't expect this to happen in the very near term. Instead, I believe that there is a good chance that Palantir will grow at a considerable rate throughout the 2020s and beyond, as our world becomes ever more data-hungry -- both governments, as well as enterprises, will try to get the most value out of all of this data, and Palantir, with its tailored solutions, will be there to offer that value to its customers. With new tools such as the recently-showcased Foundry for crypto, Palantir is at the forefront of all kinds of emerging technologies. Thanks to the fact that Palantir has access to top talent -- the result of SBC and of an excellent working environment-- I believe that there is a good chance that Palantir will be able to be highly competitive in all kinds of future markets in the Big Data/AI space that may not even exist yet.\nTakeaway\nIn general, I am not much of a growth investor -- instead, I primarily focus on attractively priced stocks with strong cash flows, oftentimes those that pay dividends. Palantir, however, is somewhat of an outlier in my portfolio -- it's a growth stock, it is not really profitable yet, and most of its potential is years away. Due to the highly attractive combination of a massive market opportunity, excellent talent, and a wide moat, Palantir still seems like an attractive long-term investment to me. This isn't a stock that will make investors rich quickly, but I believe that there is a very good chance that Palantir will turn into a very dominant, important company over the next 10+ years. At 19x next year's revenue, PLTR is not cheap, but when we expect that the company will grow at a strong rate for many years, that also doesn't seem outlandish to me at all. It makes sense to listen to the bears' arguments, but I believe that the pros outweigh the cons here.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":3522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693447269,"gmtCreate":1640070923276,"gmtModify":1640070923605,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693447269","repostId":"1117226796","repostType":4,"repost":{"id":"1117226796","kind":"news","pubTimestamp":1640057164,"share":"https://www.laohu8.com/m/news/1117226796?lang=zh_CN&edition=full","pubTime":"2021-12-21 11:26","market":"us","language":"en","title":"Palantir: 3 Reasons Against It And Why It's Still A Buy<blockquote>Palantir：反对它的3个理由以及为什么它仍然值得买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117226796","media":"Seeking Alpha","summary":"Summary\n\nPalantir Technologies is a battleground stock. Listening to the bears' arguments is a good ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir Technologies is a battleground stock. Listening to the bears' arguments is a good idea for bulls.</li>  <li>PLTR dilutes its shareholders, but that is not necessarily a huge problem.</li>  <li>Despite some interest rate headwinds, PLTR seems like a good investment to me, thanks to a strong moat and great growth outlook.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7230cdd890b86f9941b99b1503d04049\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>spxChrome/E+ via Getty Images</span></p><p><blockquote><ul><li>Palantir Technologies是一只战场股票。听空头的论点对多头来说是个好主意。</li><li>PLTR稀释了其股东，但这不一定是一个大问题。</li><li>尽管存在一些利率阻力，但PLTR对我来说似乎是一项不错的投资，这要归功于强大的护城河和巨大的增长前景。</li></ul><p class=\"t-img-caption\"><span>spxChrome/E+来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Palantir Technologies (PLTR) is an embattled growth stock, and in recent weeks, bears have been winning as shares continued to decline. There are, indeed some important bear arguments, such as dilution, reliance on government contracts, and rising interest rates. I do, however, still believe that Palantir Technologies is an attractive long-term investment, due to the act that its technology could lead to massive growth for many years to come.</p><p><blockquote>Palantir Technologies(PLTR)是一只陷入困境的成长型股票，最近几周，随着股价持续下跌，空头一直在获胜。确实有一些重要的看跌论点，例如稀释、对政府合同的依赖以及利率上升。然而，我仍然相信Palantir Technologies是一项有吸引力的长期投资，因为其技术可能会在未来许多年带来巨大增长。</blockquote></p><p> <b>3 Issues Brought Up By Bears</b></p><p><blockquote><b>空头提出的3个问题</b></blockquote></p><p> Palantir is a growth stock that brings out highly convinced bulls as well as highly convinced bears. Generally, I am in the bullish camp here, but taking a look at the bear arguments can be a good idea as well. Three of the most common arguments against Palantir are the following ones:</p><p><blockquote>Palantir是一只成长型股票，可以带来高度确信的多头和高度确信的空头。总的来说，我在这里是看涨阵营，但看看看跌的论点也是一个好主意。反对Palantir的三个最常见的论点如下：</blockquote></p><p> <b>1. Shareholder Dilution</b></p><p><blockquote><b>1.股东稀释</b></blockquote></p><p> Growth on a company-wide basis is important, but growth on a per-share basis is even more important. There are many examples that show that changes in a company's share count can create or destroy a lot of shareholder value. Apple (AAPL), for example, has seen its net income grow by roughly 190% over the last decade:</p><p><blockquote>全公司的增长很重要，但每股的增长更重要。有许多例子表明，公司股票数量的变化可以创造或破坏大量股东价值。例如，苹果(AAPL)的净利润在过去十年中增长了约190%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b5263c8346cfbbb898f1d1ac9a5bead\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Thanks to a declining share count, its earnings per share rose by a much more attractive 350%, however -- buybacks created a lot of shareholder value. There are also examples where a rising share count destroyed a lot of shareholder value, e.g. at Citigroup (C):</p><p><blockquote>然而，由于股票数量下降，其每股收益增长了更具吸引力的350%——回购创造了大量股东价值。也有股票数量增加破坏了大量股东价值的例子，例如花旗集团（C）：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc39008812f5e2d0082dedc95b025c68\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Massive share issuance during the Great Recession has resulted in a 75% earnings per share decline since 2007, even though net profits were up over the same time frame. Looking at the changes in a company's share count thus makes sense, as those changes can have a large impact in the long run. At Palantir, we see that the share count has been rising considerably since the company went public. During the most recent quarter, Palantir's share count looked like this:</p><p><blockquote>自2007年以来，大衰退期间的大规模股票发行导致每股收益下降75%，尽管同期净利润有所增长。因此，关注公司股票数量的变化是有意义的，因为从长远来看，这些变化可能会产生很大的影响。在Palantir，我们看到自公司上市以来，股票数量一直在大幅增加。最近一个季度，Palantir的股票数量如下所示：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/917ca4d7a390ced61d7c92d528f84fc1\" tg-width=\"640\" tg-height=\"539\" width=\"100%\" height=\"auto\"><span>Source: Palantir Press Release</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir新闻稿</span></p></blockquote></p><p> Compared to the second quarter, Palantir's average share count was&nbsp;1.895 billion, which makes for a 3.5% quarterly increase, which pencils out to an annual growth rate in the mid-teens. That is, of course, not negligible at all, and bears to have an argument when they state that shareholders get diluted at a meaningful pace. On the other hand, Palantir's business growth rate is way higher than 3% per quarter, as the company has guided for ~40% revenue growth this year, and since Palantir should also deliver outsized business growth in the coming years. Even if Palantir's share count were to climb by 10%-15% a year going forward, revenue per share would still climb by 25%+ a year thanks to the fact that PLTR is growing rapidly. I also believe that dilution will, over the years, decline. Not only has this been the case at many other growth companies, e.g. Amazon (AMZN), Alphabet (GOOG), or Meta (FB), but it is also logical from an option rewards perspective. Option rewards are especially generous when a company is not yet publicly traded and when its future is still more uncertain, but as a company matures, employees get more comfortable as risks for the company decline, and they do not demand large option packages any longer. Last but not least, Palantir also generates strong free cash flows that should allow the company to do share buybacks in the future, which should help improve the dilution rate as well.</p><p><blockquote>与第二季度相比，Palantir的平均股票数量为18.95亿股，季度增长3.5%，年增长率在十几岁左右。当然，这一点根本不可忽视，当他们说股东以有意义的速度被稀释时，就值得争论。另一方面，Palantir的业务增长率远高于每季度3%，因为该公司预计今年的收入增长约为40%，而且Palantir也应该在未来几年实现巨大的业务增长。即使Palantir的股票数量未来每年增长10%-15%，由于PLTR的快速增长，每股收入仍将每年增长25%以上。我还相信，随着时间的推移，稀释度将会下降。这不仅适用于许多其他成长型公司，例如亚马逊（AMZN）、Alphabet（GOOG）或Meta（FB），但从期权回报的角度来看，这也是合乎逻辑的。当一家公司尚未公开交易且其未来仍然更加不确定时，期权奖励尤其丰厚，但随着公司成熟，随着公司风险的下降，员工会变得更加舒适，他们不再要求大笔期权套餐。最后但并非最不重要的是，Palantir还产生了强劲的自由现金流，这应该使该公司能够在未来进行股票回购，这也应该有助于提高稀释率。</blockquote></p><p> <b>2. Reliance on government contracts</b></p><p><blockquote><b>2.对政府合同的依赖</b></blockquote></p><p></p><p> In a recent bearish&nbsp;article, fellow Seeking Alpha contributor On The Pulse argued that Palantir was overvalued and that its reliance on government contracts was an issue. Palantir Technologies is, indeed, reliant on government contracts to a large degree today, but I do not believe that this is a major issue. First, Palantir has diversified away from government contracts in the recent past, thanks to massive growth in its commercial business:</p><p><blockquote>在最近的一篇看跌文章中，The Pulse的Seeking Alpha撰稿人认为Palantir被高估，其对政府合同的依赖是一个问题。Palantir Technologies如今确实在很大程度上依赖政府合同，但我不认为这是一个主要问题。首先，由于商业业务的大幅增长，Palantir最近实现了多元化，摆脱了政府合同：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de23409915ee3811691b986a42ece899\" tg-width=\"640\" tg-height=\"308\" width=\"100%\" height=\"auto\"><span>Source: Palantir Technologies presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir技术演示</span></p></blockquote></p><p> In fact, Palantir's commercial business has been growing much faster than its government business in the recent past, which shows that commercial customers from all kinds of industries apparently see a lot of value in Palantir's technology -- otherwise, they wouldn't be buying at a rapid pace. With</p><p><blockquote>事实上，Palantir的商业业务近年来的增长速度远远快于其政府业务，这表明来自各个行业的商业客户显然看到了Palantir技术的巨大价值——否则，他们不会购买Palantir技术。速度很快。和</blockquote></p><p> With the commercial business growth rate outpacing the government business growth rate, Palantir will, over the years, become a company that is less and less dependent on government contracts, and that will ultimately turn into a B2B-focused software/technology player. Even if Palantir were to remain a government-focused company forever, which seems unlikely based on the current growth rates of the individual business units, that would not necessarily be an issue. Working for the government means that there is very little counterparty risk and that existing relations can easily be used to get future contracts. Last but not least, with government budgets rising relatively steadily, good government connections allow for considerable growth opportunities -- especially in the defense tech/security tech space Palantir is active in, as there is a huge need for further investments in this space.</p><p><blockquote>随着商业业务增长率超过政府业务增长率，Palantir将在多年后成为一家越来越不依赖政府合同的公司，并最终成为一家专注于B2B的软件/技术公司。即使Palantir永远是一家以政府为中心的公司（根据各个业务部门目前的增长率，这似乎不太可能），但这也不一定是一个问题。为政府工作意味着交易对手风险很小，现有关系可以很容易地用来获得未来的合同。最后但并非最不重要的一点是，随着政府预算相对稳定地增长，良好的政府关系带来了相当大的增长机会——特别是在Palantir活跃的国防技术/安全技术领域，因为该领域非常需要进一步投资。</blockquote></p><p> The claim that a government focus leads to lacking scalability is also false, I believe. Per Palantir's most recent quarterly report (linked above), its operating expenses rose by $9 million between Q3 2020 and Q3 2021 -- whereas revenues rose by $103 million in the same time frame. This backs out changes in share-based compensation. If one were to include those SBC expenses, Palantir's expenses actually<i>declined</i>year-over-year while the company managed to grow its revenue by close to 40%. The claim that Palantir will not generate any scale advantages over the years thus seems to be unfounded, I believe. Instead, the data suggest that Palantir will be able to grow its margins considerably -- the company was able to grow its adjusted gross profit by a massive $90 million while growing its adjusted operating expenses by just $9 million -- making for excellent operating leverage.</p><p><blockquote>我认为，政府关注导致缺乏可扩展性的说法也是错误的。根据Palantir最新的季度报告（上面链接），2020年第三季度至2021年第三季度期间，其运营费用增加了900万美元，而同期收入增加了1.03亿美元。这抵消了股权激励的变化。如果将这些SBC费用包括在内，Palantir的费用实际上<i>拒绝</i>而该公司的收入同比增长了近40%。因此，我认为Palantir多年来不会产生任何规模优势的说法似乎是没有根据的。相反，数据表明Palantir将能够大幅提高其利润率——该公司调整后毛利润大幅增长9000万美元，而调整后运营费用仅增长900万美元——从而实现出色的运营杠杆。</blockquote></p><p> <b>3. Exposure to rising rates</b></p><p><blockquote><b>3.利率上升的风险</b></blockquote></p><p> Massive inflation will force the Fed to raise rates in 2022 and beyond, and that could be an issue for growth stocks. Companies that are not profitable today, or that have the vast majority of their profits in the distant future, are more exposed to a rising discount rate compared to companies that have low or no growth and that generate a large amount of all future profits in the near term. This could result in outperformance of value stocks versus growth stocks in the coming years, I believe. Palantir, which is not profitable yet, naturally belongs in the \"growth\" bucket that could see an above-average impact from rising interest rates. There is no real counter-argument here, I believe -- it is indeed true that the impact of rising rates on Palantir, all else equal, will be larger compared to a value stock like AbbVie (ABBV), for example.</p><p><blockquote>大规模通胀将迫使美联储在2022年及以后加息，这可能是成长型股票的一个问题。与增长较低或没有增长且在短期内产生大量未来利润的公司相比，今天不盈利或绝大多数利润在遥远未来的公司更容易面临贴现率上升的风险。我相信，这可能会导致未来几年价值股优于成长股。Palantir尚未盈利，自然属于“增长”类别，利率上升可能会产生高于平均水平的影响。我认为，这里没有真正的反驳——确实，在其他条件相同的情况下，利率上升对Palantir的影响将比艾伯维(ABBV)等价值股更大。</blockquote></p><p> This being an incremental negative for Palantir doesn't mean that shares have to be avoided under any circumstances, however. Indeed, even despite some potential headwinds from rising rates, Palantir could still be an attractive investment if other arguments have a larger weight -- I believe this to be true, as I see PLTR's massive growth potential and huge moat outweighing some near-term headwinds from rising rates.</p><p><blockquote>然而，这对Palantir来说是一个增量负面影响，并不意味着在任何情况下都必须避免股票。事实上，即使利率上升带来了一些潜在的阻力，如果其他论点具有更大的权重，Palantir仍然可能是一项有吸引力的投资——我相信这是真的，因为我认为PLTR巨大的增长潜力和巨大的护城河超过了近期的一些阻力来自利率上升。</blockquote></p><p> <b>Why Palantir Is Still Attractive</b></p><p><blockquote><b>为什么Palantir仍然有吸引力</b></blockquote></p><p> Bears bring up a range of arguments against Palantir, and as shown above, those can have merit. I believe that they might be overblown in some cases, but taking a look at the bear's arguments doesn't hurt -- in fact, it seems like a good idea to look at both sides in order to make a more informed decision. Dilution is indeed an issue, although I do not believe that this will be too much of a headwind, since PLTR's business growth easily outpaces dilution and since dilution, overall, should slow down over the years. Government reliance will wane over the years due to an above-average commercial business growth rate, and in general, doing business with the government is not a bad thing anyway. The claim that PLTR lacks scalability seems to be false, from what I see in PLTR's data.</p><p><blockquote>看空者提出了一系列反对Palantir的论点，如上所示，这些论点可能有其优点。我相信在某些情况下他们可能被夸大了，但看看空头的论点并没有什么坏处——事实上，为了做出更明智的决定，看看双方似乎是个好主意。稀释确实是一个问题，尽管我不认为这会是太大的阻力，因为PLTR的业务增长很容易超过稀释，而且总体而言，稀释应该会在几年内放缓。由于高于平均水平的商业业务增长率，对政府的依赖将会随着时间的推移而减弱，总的来说，与政府做生意无论如何都不是一件坏事。从我在PLTR的数据中看到的来看，PLTR缺乏可扩展性的说法似乎是错误的。</blockquote></p><p></p><p> Palantir is, despite these arguments, attractive, I believe: The company is growing rapidly, has decades-long growth potential in both its government business as well as on the commercial side, and Palantir seems to have a very wide moat. This combination could turn Palantir into one of the largest and most important companies eventually -- although investors shouldn't expect this to happen in the very near term. Instead, I believe that there is a good chance that Palantir will grow at a considerable rate throughout the 2020s and beyond, as our world becomes ever more data-hungry -- both governments, as well as enterprises, will try to get the most value out of all of this data, and Palantir, with its tailored solutions, will be there to offer that value to its customers. With new tools such as the recently-showcased&nbsp;Foundry&nbsp;for crypto, Palantir is at the forefront of all kinds of emerging technologies. Thanks to the fact that Palantir has access to top talent -- the result of SBC and of an&nbsp;excellent working environment-- I believe that there is a good chance that Palantir will be able to be highly competitive in all kinds of future markets in the Big Data/AI space that may not even exist yet.</p><p><blockquote>尽管有这些论点，我相信Palantir仍然很有吸引力：该公司发展迅速，在政府业务和商业方面都具有数十年的增长潜力，而且Palantir似乎拥有非常宽的护城河。这种合并最终可能会将Palantir变成最大、最重要的公司之一——尽管投资者不应指望这种情况会在短期内发生。相反，我相信Palantir很有可能在整个2020年代及以后以相当大的速度增长，因为我们的世界变得越来越需要数据——政府和企业都将努力获得最大的价值从所有这些数据中获得，Palantir将凭借其量身定制的解决方案，为其客户提供这种价值。凭借最近展示的Foundry for Crypto等新工具，Palantir处于各种新兴技术的前沿。由于Palantir能够接触到顶尖人才——SBC的结果和良好的工作环境——我相信Palantir很有可能能够在未来的各种市场中具有高度竞争力。大数据/人工智能领域可能还不存在。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> In general, I am not much of a growth investor -- instead, I primarily focus on attractively priced stocks with strong cash flows, oftentimes those that pay dividends. Palantir, however, is somewhat of an outlier in my portfolio -- it's a growth stock, it is not really profitable yet, and most of its potential is years away. Due to the highly attractive combination of a massive market opportunity, excellent talent, and a wide moat, Palantir still seems like an attractive long-term investment to me. This isn't a stock that will make investors rich quickly, but I believe that there is a very good chance that Palantir will turn into a very dominant, important company over the next 10+ years. At 19x next year's revenue, PLTR is not cheap, but when we expect that the company will grow at a strong rate for many years, that also doesn't seem outlandish to me at all. It makes sense to listen to the bears' arguments, but I believe that the pros outweigh the cons here.</p><p><blockquote>总的来说，我不是一个成长型投资者——相反，我主要关注价格有吸引力、现金流强劲的股票，通常是那些支付股息的股票。然而，Palantir在我的投资组合中有点异类——它是一只成长型股票，尚未真正盈利，而且其大部分潜力还需要数年时间。由于巨大的市场机会、优秀的人才和宽阔的护城河的极具吸引力的组合，Palantir对我来说仍然是一项有吸引力的长期投资。这不是一只能让投资者快速致富的股票，但我相信Palantir很有可能在未来10多年成为一家非常占主导地位的重要公司。PLTR明年收入的19倍并不便宜，但当我们预计该公司将在许多年内以强劲的速度增长时，这对我来说一点也不奇怪。听空头的论点是有道理的，但我相信这里利大于弊。</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: 3 Reasons Against It And Why It's Still A Buy<blockquote>Palantir：反对它的3个理由以及为什么它仍然值得买入</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: 3 Reasons Against It And Why It's Still A Buy<blockquote>Palantir：反对它的3个理由以及为什么它仍然值得买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-21 11:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir Technologies is a battleground stock. Listening to the bears' arguments is a good idea for bulls.</li>  <li>PLTR dilutes its shareholders, but that is not necessarily a huge problem.</li>  <li>Despite some interest rate headwinds, PLTR seems like a good investment to me, thanks to a strong moat and great growth outlook.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7230cdd890b86f9941b99b1503d04049\" tg-width=\"1536\" tg-height=\"1044\" width=\"100%\" height=\"auto\"><span>spxChrome/E+ via Getty Images</span></p><p><blockquote><ul><li>Palantir Technologies是一只战场股票。听空头的论点对多头来说是个好主意。</li><li>PLTR稀释了其股东，但这不一定是一个大问题。</li><li>尽管存在一些利率阻力，但PLTR对我来说似乎是一项不错的投资，这要归功于强大的护城河和巨大的增长前景。</li></ul><p class=\"t-img-caption\"><span>spxChrome/E+来自Getty Images</span></p></blockquote></p><p> <b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p> Palantir Technologies (PLTR) is an embattled growth stock, and in recent weeks, bears have been winning as shares continued to decline. There are, indeed some important bear arguments, such as dilution, reliance on government contracts, and rising interest rates. I do, however, still believe that Palantir Technologies is an attractive long-term investment, due to the act that its technology could lead to massive growth for many years to come.</p><p><blockquote>Palantir Technologies(PLTR)是一只陷入困境的成长型股票，最近几周，随着股价持续下跌，空头一直在获胜。确实有一些重要的看跌论点，例如稀释、对政府合同的依赖以及利率上升。然而，我仍然相信Palantir Technologies是一项有吸引力的长期投资，因为其技术可能会在未来许多年带来巨大增长。</blockquote></p><p> <b>3 Issues Brought Up By Bears</b></p><p><blockquote><b>空头提出的3个问题</b></blockquote></p><p> Palantir is a growth stock that brings out highly convinced bulls as well as highly convinced bears. Generally, I am in the bullish camp here, but taking a look at the bear arguments can be a good idea as well. Three of the most common arguments against Palantir are the following ones:</p><p><blockquote>Palantir是一只成长型股票，可以带来高度确信的多头和高度确信的空头。总的来说，我在这里是看涨阵营，但看看看跌的论点也是一个好主意。反对Palantir的三个最常见的论点如下：</blockquote></p><p> <b>1. Shareholder Dilution</b></p><p><blockquote><b>1.股东稀释</b></blockquote></p><p> Growth on a company-wide basis is important, but growth on a per-share basis is even more important. There are many examples that show that changes in a company's share count can create or destroy a lot of shareholder value. Apple (AAPL), for example, has seen its net income grow by roughly 190% over the last decade:</p><p><blockquote>全公司的增长很重要，但每股的增长更重要。有许多例子表明，公司股票数量的变化可以创造或破坏大量股东价值。例如，苹果(AAPL)的净利润在过去十年中增长了约190%：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2b5263c8346cfbbb898f1d1ac9a5bead\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Thanks to a declining share count, its earnings per share rose by a much more attractive 350%, however -- buybacks created a lot of shareholder value. There are also examples where a rising share count destroyed a lot of shareholder value, e.g. at Citigroup (C):</p><p><blockquote>然而，由于股票数量下降，其每股收益增长了更具吸引力的350%——回购创造了大量股东价值。也有股票数量增加破坏了大量股东价值的例子，例如花旗集团（C）：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc39008812f5e2d0082dedc95b025c68\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Massive share issuance during the Great Recession has resulted in a 75% earnings per share decline since 2007, even though net profits were up over the same time frame. Looking at the changes in a company's share count thus makes sense, as those changes can have a large impact in the long run. At Palantir, we see that the share count has been rising considerably since the company went public. During the most recent quarter, Palantir's share count looked like this:</p><p><blockquote>自2007年以来，大衰退期间的大规模股票发行导致每股收益下降75%，尽管同期净利润有所增长。因此，关注公司股票数量的变化是有意义的，因为从长远来看，这些变化可能会产生很大的影响。在Palantir，我们看到自公司上市以来，股票数量一直在大幅增加。最近一个季度，Palantir的股票数量如下所示：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/917ca4d7a390ced61d7c92d528f84fc1\" tg-width=\"640\" tg-height=\"539\" width=\"100%\" height=\"auto\"><span>Source: Palantir Press Release</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir新闻稿</span></p></blockquote></p><p> Compared to the second quarter, Palantir's average share count was&nbsp;1.895 billion, which makes for a 3.5% quarterly increase, which pencils out to an annual growth rate in the mid-teens. That is, of course, not negligible at all, and bears to have an argument when they state that shareholders get diluted at a meaningful pace. On the other hand, Palantir's business growth rate is way higher than 3% per quarter, as the company has guided for ~40% revenue growth this year, and since Palantir should also deliver outsized business growth in the coming years. Even if Palantir's share count were to climb by 10%-15% a year going forward, revenue per share would still climb by 25%+ a year thanks to the fact that PLTR is growing rapidly. I also believe that dilution will, over the years, decline. Not only has this been the case at many other growth companies, e.g. Amazon (AMZN), Alphabet (GOOG), or Meta (FB), but it is also logical from an option rewards perspective. Option rewards are especially generous when a company is not yet publicly traded and when its future is still more uncertain, but as a company matures, employees get more comfortable as risks for the company decline, and they do not demand large option packages any longer. Last but not least, Palantir also generates strong free cash flows that should allow the company to do share buybacks in the future, which should help improve the dilution rate as well.</p><p><blockquote>与第二季度相比，Palantir的平均股票数量为18.95亿股，季度增长3.5%，年增长率在十几岁左右。当然，这一点根本不可忽视，当他们说股东以有意义的速度被稀释时，就值得争论。另一方面，Palantir的业务增长率远高于每季度3%，因为该公司预计今年的收入增长约为40%，而且Palantir也应该在未来几年实现巨大的业务增长。即使Palantir的股票数量未来每年增长10%-15%，由于PLTR的快速增长，每股收入仍将每年增长25%以上。我还相信，随着时间的推移，稀释度将会下降。这不仅适用于许多其他成长型公司，例如亚马逊（AMZN）、Alphabet（GOOG）或Meta（FB），但从期权回报的角度来看，这也是合乎逻辑的。当一家公司尚未公开交易且其未来仍然更加不确定时，期权奖励尤其丰厚，但随着公司成熟，随着公司风险的下降，员工会变得更加舒适，他们不再要求大笔期权套餐。最后但并非最不重要的是，Palantir还产生了强劲的自由现金流，这应该使该公司能够在未来进行股票回购，这也应该有助于提高稀释率。</blockquote></p><p> <b>2. Reliance on government contracts</b></p><p><blockquote><b>2.对政府合同的依赖</b></blockquote></p><p></p><p> In a recent bearish&nbsp;article, fellow Seeking Alpha contributor On The Pulse argued that Palantir was overvalued and that its reliance on government contracts was an issue. Palantir Technologies is, indeed, reliant on government contracts to a large degree today, but I do not believe that this is a major issue. First, Palantir has diversified away from government contracts in the recent past, thanks to massive growth in its commercial business:</p><p><blockquote>在最近的一篇看跌文章中，The Pulse的Seeking Alpha撰稿人认为Palantir被高估，其对政府合同的依赖是一个问题。Palantir Technologies如今确实在很大程度上依赖政府合同，但我不认为这是一个主要问题。首先，由于商业业务的大幅增长，Palantir最近实现了多元化，摆脱了政府合同：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/de23409915ee3811691b986a42ece899\" tg-width=\"640\" tg-height=\"308\" width=\"100%\" height=\"auto\"><span>Source: Palantir Technologies presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Palantir技术演示</span></p></blockquote></p><p> In fact, Palantir's commercial business has been growing much faster than its government business in the recent past, which shows that commercial customers from all kinds of industries apparently see a lot of value in Palantir's technology -- otherwise, they wouldn't be buying at a rapid pace. With</p><p><blockquote>事实上，Palantir的商业业务近年来的增长速度远远快于其政府业务，这表明来自各个行业的商业客户显然看到了Palantir技术的巨大价值——否则，他们不会购买Palantir技术。速度很快。和</blockquote></p><p> With the commercial business growth rate outpacing the government business growth rate, Palantir will, over the years, become a company that is less and less dependent on government contracts, and that will ultimately turn into a B2B-focused software/technology player. Even if Palantir were to remain a government-focused company forever, which seems unlikely based on the current growth rates of the individual business units, that would not necessarily be an issue. Working for the government means that there is very little counterparty risk and that existing relations can easily be used to get future contracts. Last but not least, with government budgets rising relatively steadily, good government connections allow for considerable growth opportunities -- especially in the defense tech/security tech space Palantir is active in, as there is a huge need for further investments in this space.</p><p><blockquote>随着商业业务增长率超过政府业务增长率，Palantir将在多年后成为一家越来越不依赖政府合同的公司，并最终成为一家专注于B2B的软件/技术公司。即使Palantir永远是一家以政府为中心的公司（根据各个业务部门目前的增长率，这似乎不太可能），但这也不一定是一个问题。为政府工作意味着交易对手风险很小，现有关系可以很容易地用来获得未来的合同。最后但并非最不重要的一点是，随着政府预算相对稳定地增长，良好的政府关系带来了相当大的增长机会——特别是在Palantir活跃的国防技术/安全技术领域，因为该领域非常需要进一步投资。</blockquote></p><p> The claim that a government focus leads to lacking scalability is also false, I believe. Per Palantir's most recent quarterly report (linked above), its operating expenses rose by $9 million between Q3 2020 and Q3 2021 -- whereas revenues rose by $103 million in the same time frame. This backs out changes in share-based compensation. If one were to include those SBC expenses, Palantir's expenses actually<i>declined</i>year-over-year while the company managed to grow its revenue by close to 40%. The claim that Palantir will not generate any scale advantages over the years thus seems to be unfounded, I believe. Instead, the data suggest that Palantir will be able to grow its margins considerably -- the company was able to grow its adjusted gross profit by a massive $90 million while growing its adjusted operating expenses by just $9 million -- making for excellent operating leverage.</p><p><blockquote>我认为，政府关注导致缺乏可扩展性的说法也是错误的。根据Palantir最新的季度报告（上面链接），2020年第三季度至2021年第三季度期间，其运营费用增加了900万美元，而同期收入增加了1.03亿美元。这抵消了股权激励的变化。如果将这些SBC费用包括在内，Palantir的费用实际上<i>拒绝</i>而该公司的收入同比增长了近40%。因此，我认为Palantir多年来不会产生任何规模优势的说法似乎是没有根据的。相反，数据表明Palantir将能够大幅提高其利润率——该公司调整后毛利润大幅增长9000万美元，而调整后运营费用仅增长900万美元——从而实现出色的运营杠杆。</blockquote></p><p> <b>3. Exposure to rising rates</b></p><p><blockquote><b>3.利率上升的风险</b></blockquote></p><p> Massive inflation will force the Fed to raise rates in 2022 and beyond, and that could be an issue for growth stocks. Companies that are not profitable today, or that have the vast majority of their profits in the distant future, are more exposed to a rising discount rate compared to companies that have low or no growth and that generate a large amount of all future profits in the near term. This could result in outperformance of value stocks versus growth stocks in the coming years, I believe. Palantir, which is not profitable yet, naturally belongs in the \"growth\" bucket that could see an above-average impact from rising interest rates. There is no real counter-argument here, I believe -- it is indeed true that the impact of rising rates on Palantir, all else equal, will be larger compared to a value stock like AbbVie (ABBV), for example.</p><p><blockquote>大规模通胀将迫使美联储在2022年及以后加息，这可能是成长型股票的一个问题。与增长较低或没有增长且在短期内产生大量未来利润的公司相比，今天不盈利或绝大多数利润在遥远未来的公司更容易面临贴现率上升的风险。我相信，这可能会导致未来几年价值股优于成长股。Palantir尚未盈利，自然属于“增长”类别，利率上升可能会产生高于平均水平的影响。我认为，这里没有真正的反驳——确实，在其他条件相同的情况下，利率上升对Palantir的影响将比艾伯维(ABBV)等价值股更大。</blockquote></p><p> This being an incremental negative for Palantir doesn't mean that shares have to be avoided under any circumstances, however. Indeed, even despite some potential headwinds from rising rates, Palantir could still be an attractive investment if other arguments have a larger weight -- I believe this to be true, as I see PLTR's massive growth potential and huge moat outweighing some near-term headwinds from rising rates.</p><p><blockquote>然而，这对Palantir来说是一个增量负面影响，并不意味着在任何情况下都必须避免股票。事实上，即使利率上升带来了一些潜在的阻力，如果其他论点具有更大的权重，Palantir仍然可能是一项有吸引力的投资——我相信这是真的，因为我认为PLTR巨大的增长潜力和巨大的护城河超过了近期的一些阻力来自利率上升。</blockquote></p><p> <b>Why Palantir Is Still Attractive</b></p><p><blockquote><b>为什么Palantir仍然有吸引力</b></blockquote></p><p> Bears bring up a range of arguments against Palantir, and as shown above, those can have merit. I believe that they might be overblown in some cases, but taking a look at the bear's arguments doesn't hurt -- in fact, it seems like a good idea to look at both sides in order to make a more informed decision. Dilution is indeed an issue, although I do not believe that this will be too much of a headwind, since PLTR's business growth easily outpaces dilution and since dilution, overall, should slow down over the years. Government reliance will wane over the years due to an above-average commercial business growth rate, and in general, doing business with the government is not a bad thing anyway. The claim that PLTR lacks scalability seems to be false, from what I see in PLTR's data.</p><p><blockquote>看空者提出了一系列反对Palantir的论点，如上所示，这些论点可能有其优点。我相信在某些情况下他们可能被夸大了，但看看空头的论点并没有什么坏处——事实上，为了做出更明智的决定，看看双方似乎是个好主意。稀释确实是一个问题，尽管我不认为这会是太大的阻力，因为PLTR的业务增长很容易超过稀释，而且总体而言，稀释应该会在几年内放缓。由于高于平均水平的商业业务增长率，对政府的依赖将会随着时间的推移而减弱，总的来说，与政府做生意无论如何都不是一件坏事。从我在PLTR的数据中看到的来看，PLTR缺乏可扩展性的说法似乎是错误的。</blockquote></p><p></p><p> Palantir is, despite these arguments, attractive, I believe: The company is growing rapidly, has decades-long growth potential in both its government business as well as on the commercial side, and Palantir seems to have a very wide moat. This combination could turn Palantir into one of the largest and most important companies eventually -- although investors shouldn't expect this to happen in the very near term. Instead, I believe that there is a good chance that Palantir will grow at a considerable rate throughout the 2020s and beyond, as our world becomes ever more data-hungry -- both governments, as well as enterprises, will try to get the most value out of all of this data, and Palantir, with its tailored solutions, will be there to offer that value to its customers. With new tools such as the recently-showcased&nbsp;Foundry&nbsp;for crypto, Palantir is at the forefront of all kinds of emerging technologies. Thanks to the fact that Palantir has access to top talent -- the result of SBC and of an&nbsp;excellent working environment-- I believe that there is a good chance that Palantir will be able to be highly competitive in all kinds of future markets in the Big Data/AI space that may not even exist yet.</p><p><blockquote>尽管有这些论点，我相信Palantir仍然很有吸引力：该公司发展迅速，在政府业务和商业方面都具有数十年的增长潜力，而且Palantir似乎拥有非常宽的护城河。这种合并最终可能会将Palantir变成最大、最重要的公司之一——尽管投资者不应指望这种情况会在短期内发生。相反，我相信Palantir很有可能在整个2020年代及以后以相当大的速度增长，因为我们的世界变得越来越需要数据——政府和企业都将努力获得最大的价值从所有这些数据中获得，Palantir将凭借其量身定制的解决方案，为其客户提供这种价值。凭借最近展示的Foundry for Crypto等新工具，Palantir处于各种新兴技术的前沿。由于Palantir能够接触到顶尖人才——SBC的结果和良好的工作环境——我相信Palantir很有可能能够在未来的各种市场中具有高度竞争力。大数据/人工智能领域可能还不存在。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> In general, I am not much of a growth investor -- instead, I primarily focus on attractively priced stocks with strong cash flows, oftentimes those that pay dividends. Palantir, however, is somewhat of an outlier in my portfolio -- it's a growth stock, it is not really profitable yet, and most of its potential is years away. Due to the highly attractive combination of a massive market opportunity, excellent talent, and a wide moat, Palantir still seems like an attractive long-term investment to me. This isn't a stock that will make investors rich quickly, but I believe that there is a very good chance that Palantir will turn into a very dominant, important company over the next 10+ years. At 19x next year's revenue, PLTR is not cheap, but when we expect that the company will grow at a strong rate for many years, that also doesn't seem outlandish to me at all. It makes sense to listen to the bears' arguments, but I believe that the pros outweigh the cons here.</p><p><blockquote>总的来说，我不是一个成长型投资者——相反，我主要关注价格有吸引力、现金流强劲的股票，通常是那些支付股息的股票。然而，Palantir在我的投资组合中有点异类——它是一只成长型股票，尚未真正盈利，而且其大部分潜力还需要数年时间。由于巨大的市场机会、优秀的人才和宽阔的护城河的极具吸引力的组合，Palantir对我来说仍然是一项有吸引力的长期投资。这不是一只能让投资者快速致富的股票，但我相信Palantir很有可能在未来10多年成为一家非常占主导地位的重要公司。PLTR明年收入的19倍并不便宜，但当我们预计该公司将在许多年内以强劲的速度增长时，这对我来说一点也不奇怪。听空头的论点是有道理的，但我相信这里利大于弊。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475960-palantir-3-reasons-against-it-and-why-its-still-a-buy\">Seeking Alpha</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":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4475960-palantir-3-reasons-against-it-and-why-its-still-a-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117226796","content_text":"Summary\n\nPalantir Technologies is a battleground stock. Listening to the bears' arguments is a good idea for bulls.\nPLTR dilutes its shareholders, but that is not necessarily a huge problem.\nDespite some interest rate headwinds, PLTR seems like a good investment to me, thanks to a strong moat and great growth outlook.\n\nspxChrome/E+ via Getty Images\nArticle Thesis\nPalantir Technologies (PLTR) is an embattled growth stock, and in recent weeks, bears have been winning as shares continued to decline. There are, indeed some important bear arguments, such as dilution, reliance on government contracts, and rising interest rates. I do, however, still believe that Palantir Technologies is an attractive long-term investment, due to the act that its technology could lead to massive growth for many years to come.\n3 Issues Brought Up By Bears\nPalantir is a growth stock that brings out highly convinced bulls as well as highly convinced bears. Generally, I am in the bullish camp here, but taking a look at the bear arguments can be a good idea as well. Three of the most common arguments against Palantir are the following ones:\n1. Shareholder Dilution\nGrowth on a company-wide basis is important, but growth on a per-share basis is even more important. There are many examples that show that changes in a company's share count can create or destroy a lot of shareholder value. Apple (AAPL), for example, has seen its net income grow by roughly 190% over the last decade:\nData by YCharts\nThanks to a declining share count, its earnings per share rose by a much more attractive 350%, however -- buybacks created a lot of shareholder value. There are also examples where a rising share count destroyed a lot of shareholder value, e.g. at Citigroup (C):\nData by YCharts\nMassive share issuance during the Great Recession has resulted in a 75% earnings per share decline since 2007, even though net profits were up over the same time frame. Looking at the changes in a company's share count thus makes sense, as those changes can have a large impact in the long run. At Palantir, we see that the share count has been rising considerably since the company went public. During the most recent quarter, Palantir's share count looked like this:\nSource: Palantir Press Release\nCompared to the second quarter, Palantir's average share count was 1.895 billion, which makes for a 3.5% quarterly increase, which pencils out to an annual growth rate in the mid-teens. That is, of course, not negligible at all, and bears to have an argument when they state that shareholders get diluted at a meaningful pace. On the other hand, Palantir's business growth rate is way higher than 3% per quarter, as the company has guided for ~40% revenue growth this year, and since Palantir should also deliver outsized business growth in the coming years. Even if Palantir's share count were to climb by 10%-15% a year going forward, revenue per share would still climb by 25%+ a year thanks to the fact that PLTR is growing rapidly. I also believe that dilution will, over the years, decline. Not only has this been the case at many other growth companies, e.g. Amazon (AMZN), Alphabet (GOOG), or Meta (FB), but it is also logical from an option rewards perspective. Option rewards are especially generous when a company is not yet publicly traded and when its future is still more uncertain, but as a company matures, employees get more comfortable as risks for the company decline, and they do not demand large option packages any longer. Last but not least, Palantir also generates strong free cash flows that should allow the company to do share buybacks in the future, which should help improve the dilution rate as well.\n2. Reliance on government contracts\nIn a recent bearish article, fellow Seeking Alpha contributor On The Pulse argued that Palantir was overvalued and that its reliance on government contracts was an issue. Palantir Technologies is, indeed, reliant on government contracts to a large degree today, but I do not believe that this is a major issue. First, Palantir has diversified away from government contracts in the recent past, thanks to massive growth in its commercial business:\nSource: Palantir Technologies presentation\nIn fact, Palantir's commercial business has been growing much faster than its government business in the recent past, which shows that commercial customers from all kinds of industries apparently see a lot of value in Palantir's technology -- otherwise, they wouldn't be buying at a rapid pace. With\nWith the commercial business growth rate outpacing the government business growth rate, Palantir will, over the years, become a company that is less and less dependent on government contracts, and that will ultimately turn into a B2B-focused software/technology player. Even if Palantir were to remain a government-focused company forever, which seems unlikely based on the current growth rates of the individual business units, that would not necessarily be an issue. Working for the government means that there is very little counterparty risk and that existing relations can easily be used to get future contracts. Last but not least, with government budgets rising relatively steadily, good government connections allow for considerable growth opportunities -- especially in the defense tech/security tech space Palantir is active in, as there is a huge need for further investments in this space.\nThe claim that a government focus leads to lacking scalability is also false, I believe. Per Palantir's most recent quarterly report (linked above), its operating expenses rose by $9 million between Q3 2020 and Q3 2021 -- whereas revenues rose by $103 million in the same time frame. This backs out changes in share-based compensation. If one were to include those SBC expenses, Palantir's expenses actuallydeclinedyear-over-year while the company managed to grow its revenue by close to 40%. The claim that Palantir will not generate any scale advantages over the years thus seems to be unfounded, I believe. Instead, the data suggest that Palantir will be able to grow its margins considerably -- the company was able to grow its adjusted gross profit by a massive $90 million while growing its adjusted operating expenses by just $9 million -- making for excellent operating leverage.\n3. Exposure to rising rates\nMassive inflation will force the Fed to raise rates in 2022 and beyond, and that could be an issue for growth stocks. Companies that are not profitable today, or that have the vast majority of their profits in the distant future, are more exposed to a rising discount rate compared to companies that have low or no growth and that generate a large amount of all future profits in the near term. This could result in outperformance of value stocks versus growth stocks in the coming years, I believe. Palantir, which is not profitable yet, naturally belongs in the \"growth\" bucket that could see an above-average impact from rising interest rates. There is no real counter-argument here, I believe -- it is indeed true that the impact of rising rates on Palantir, all else equal, will be larger compared to a value stock like AbbVie (ABBV), for example.\nThis being an incremental negative for Palantir doesn't mean that shares have to be avoided under any circumstances, however. Indeed, even despite some potential headwinds from rising rates, Palantir could still be an attractive investment if other arguments have a larger weight -- I believe this to be true, as I see PLTR's massive growth potential and huge moat outweighing some near-term headwinds from rising rates.\nWhy Palantir Is Still Attractive\nBears bring up a range of arguments against Palantir, and as shown above, those can have merit. I believe that they might be overblown in some cases, but taking a look at the bear's arguments doesn't hurt -- in fact, it seems like a good idea to look at both sides in order to make a more informed decision. Dilution is indeed an issue, although I do not believe that this will be too much of a headwind, since PLTR's business growth easily outpaces dilution and since dilution, overall, should slow down over the years. Government reliance will wane over the years due to an above-average commercial business growth rate, and in general, doing business with the government is not a bad thing anyway. The claim that PLTR lacks scalability seems to be false, from what I see in PLTR's data.\nPalantir is, despite these arguments, attractive, I believe: The company is growing rapidly, has decades-long growth potential in both its government business as well as on the commercial side, and Palantir seems to have a very wide moat. This combination could turn Palantir into one of the largest and most important companies eventually -- although investors shouldn't expect this to happen in the very near term. Instead, I believe that there is a good chance that Palantir will grow at a considerable rate throughout the 2020s and beyond, as our world becomes ever more data-hungry -- both governments, as well as enterprises, will try to get the most value out of all of this data, and Palantir, with its tailored solutions, will be there to offer that value to its customers. With new tools such as the recently-showcased Foundry for crypto, Palantir is at the forefront of all kinds of emerging technologies. Thanks to the fact that Palantir has access to top talent -- the result of SBC and of an excellent working environment-- I believe that there is a good chance that Palantir will be able to be highly competitive in all kinds of future markets in the Big Data/AI space that may not even exist yet.\nTakeaway\nIn general, I am not much of a growth investor -- instead, I primarily focus on attractively priced stocks with strong cash flows, oftentimes those that pay dividends. Palantir, however, is somewhat of an outlier in my portfolio -- it's a growth stock, it is not really profitable yet, and most of its potential is years away. Due to the highly attractive combination of a massive market opportunity, excellent talent, and a wide moat, Palantir still seems like an attractive long-term investment to me. This isn't a stock that will make investors rich quickly, but I believe that there is a very good chance that Palantir will turn into a very dominant, important company over the next 10+ years. At 19x next year's revenue, PLTR is not cheap, but when we expect that the company will grow at a strong rate for many years, that also doesn't seem outlandish to me at all. It makes sense to listen to the bears' arguments, but I believe that the pros outweigh the cons here.","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":2082,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693326033,"gmtCreate":1639974192953,"gmtModify":1639974193186,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Hold","listText":"Hold","text":"Hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693326033","repostId":"2192989909","repostType":4,"isVote":1,"tweetType":1,"viewCount":2587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693027233,"gmtCreate":1639945119282,"gmtModify":1639945119538,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/693027233","repostId":"2192099879","repostType":4,"isVote":1,"tweetType":1,"viewCount":2578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690743349,"gmtCreate":1639713164977,"gmtModify":1639713176628,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Can add","listText":"Can add","text":"Can add","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690743349","repostId":"1115262079","repostType":4,"repost":{"id":"1115262079","kind":"news","pubTimestamp":1639712748,"share":"https://www.laohu8.com/m/news/1115262079?lang=zh_CN&edition=full","pubTime":"2021-12-17 11:45","market":"us","language":"en","title":"Missed Out on Tesla? Here's What to Buy Now<blockquote>错过了特斯拉？这是现在要买的东西</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115262079","media":"Motley Fool","summary":"The growing use of electric vehicles will benefit several players.","content":"<p>In the last two years,<b>Tesla</b>&nbsp;stock has surged more than 1,000%. Investors who missed investing in Tesla two years back could be disheartened. Yet it is worth noting that it is difficult to foresee stocks that can generate Tesla-like returns. The best approach is to invest in companies that you believe can perform well in the long haul. Stocks of such quality companies should generate market-beating returns if you hold them long enough.</p><p><blockquote>最近两年，<b>特斯拉</b>股价飙升超过1000%。两年前错过投资特斯拉的投资者可能会感到沮丧。但值得注意的是，很难预见能够产生特斯拉式回报的股票。最好的方法是投资于你认为长期表现良好的公司。如果你持有这些优质公司的股票足够长的时间，它们应该会产生跑赢市场的回报。</blockquote></p><p> Let's look at three&nbsp;electric vehicle (EV) stocks&nbsp;that have the potential to generate outsize returns in five years, or more.</p><p><blockquote>让我们来看看三只有潜力在五年或更长时间内产生巨额回报的电动汽车(EV)股票。</blockquote></p><p> <b>Lucid Group</b></p><p><blockquote><b>Lucid集团</b></blockquote></p><p> There is a plethora of electric vehicle stocks to choose from right now. Of these,<b>Lucid Group</b>(NASDAQ:LCID)&nbsp;looks promising. There are several reasons to like Lucid Group. Users like the cars' features and designs, and within a short time, Lucid has succeeded in establishing itself as a luxury electric car brand.</p><p><blockquote>目前有太多电动汽车股票可供选择。其中，<b>Lucid集团</b>（纳斯达克：LCID）看起来很有希望。喜欢Lucid Group有几个原因。用户喜欢这些汽车的功能和设计，在很短的时间内，Lucid成功地将自己打造成了豪华电动汽车品牌。</blockquote></p><p> The company not only boasts leading-edge EV technology, but also has&nbsp;solid growth plans. Though Lucid started as a luxury car maker, it has plans to launch EV models for the mass market in the coming years. With one of the most&nbsp;efficient EV technologies, Lucid can potentially generate recurring revenue by licensing its technology to other car companies.&nbsp;The stock will be&nbsp;included&nbsp;in the&nbsp;<b>Nasdaq-100</b>&nbsp;index on Dec. 20.</p><p><blockquote>该公司不仅拥有领先的电动汽车技术，而且还有稳健的增长计划。尽管Lucid最初是一家豪华汽车制造商，但它计划在未来几年推出面向大众市场的电动汽车车型。凭借最高效的电动汽车技术之一，Lucid有可能通过将其技术授权给其他汽车公司来产生经常性收入。该股票将被纳入<b>纳斯达克100</b>12月20日指数。</blockquote></p><p> On the risk side, Lucid is still to prove that it can deliver cars profitably. Investors should also keep an eye on the progress of a&nbsp;recent Securities and Exchange Commission (SEC) investigation&nbsp;relating to its merger with Churchill Capital Corp. IV.</p><p><blockquote>在风险方面，Lucid仍需证明它可以盈利地交付汽车。投资者还应关注美国证券交易委员会（SEC）最近对其与Churchill Capital Corp.IV合并的调查进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d0630d0ca5a26df1b8900958ace25117\" tg-width=\"2000\" tg-height=\"1327\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: LUCID GROUP.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：LUCID GROUP。</span></p></blockquote></p><p> <b>BYD</b></p><p><blockquote><b>比亚迪</b></blockquote></p><p> Founded in 1995,<b>BYD</b>(OTC:BYDDY)(OTC:BYDD.F)&nbsp;entered the automobile business in 2003. Apart from automobiles, BYD manufactures mobile handset components, rechargeable batteries, and solar products.<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B)&nbsp;holds a nearly 8% stake in BYD.</p><p><blockquote>成立于1995年，<b>比亚迪</b>（场外交易代码：比亚迪）（场外交易代码：BYDD.F）于2003年进入汽车业务。除汽车外，比亚迪还生产手机零部件、充电电池和太阳能产品。<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）持有比亚迪近8%的股份。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb8e45b9379833fe0a8f6a1d482857a5\" tg-width=\"2000\" tg-height=\"1161\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> BYD started as an internal combustion engine vehicle manufacturer. Yet, sensing the broader trend, it has quickly shifted to making electric vehicles. In November, more than 90% of BYD's vehicle deliveries were fully electric or plug-in hybrids. Sales of BYD's fully electric models rose 153% year over year in November.</p><p><blockquote>比亚迪以内燃机汽车制造商起家。然而，意识到更广泛的趋势，它已迅速转向制造电动汽车。11月，比亚迪超过90%的汽车交付量是纯电动或插电式混合动力。比亚迪11月全电动车型销量同比增长153%。</blockquote></p><p> The company has captured roughly 18% of China's EV market. A leading position in the fast-growing, huge potential Chinese EV market places BYD well for long-term growth.</p><p><blockquote>该公司已占据中国电动汽车市场约18%的份额。比亚迪在快速增长、潜力巨大的中国电动汽车市场中处于领先地位，有利于长期增长。</blockquote></p><p> BYD stock trades at an&nbsp;attractive valuation&nbsp;compared to several top EV stocks right now. All of the above makes this&nbsp;Warren Buffett stock&nbsp;attractive.</p><p><blockquote>与目前几只顶级电动汽车股票相比，比亚迪股票的估值颇具吸引力。所有这些都使得沃伦·巴菲特的股票具有吸引力。</blockquote></p><p> <b>QuantumScape</b></p><p><blockquote><b>量子景观</b></blockquote></p><p> Batteries are a key component of electric vehicles. All leading auto and battery companies are focused on making batteries more efficient, which will help enhance an EV's range.<b>QuantumScape</b>(NYSE:QS), which went public in November 2020, is a battery start-up working on the next-generation battery technology.</p><p><blockquote>电池是电动汽车的关键部件。所有领先的汽车和电池公司都专注于提高电池效率，这将有助于提高电动汽车的续航里程。<b>量子景观</b>（纽约证券交易所代码：QS）于2020年11月上市，是一家致力于下一代电池技术的电池初创公司。</blockquote></p><p> Currently, lithium-ion batteries are used in electric vehicles. QuantumScape is developing lithium-metal solid-state batteries, using a proprietary ceramic separator. The company believes that its batteries will offer greater energy density, longer life, and faster charging than lithium-ion batteries currently in use.</p><p><blockquote>目前，锂离子电池用于电动汽车。QuantumScape正在开发锂金属固态电池，使用专有的陶瓷隔膜。该公司认为，与目前使用的锂离子电池相比，其电池将提供更大的能量密度、更长的寿命和更快的充电速度。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7c6ead4e5b8f1aaa74490058d439dbfa\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> QuantumScape has the backing of leading automaker&nbsp;<b>Volkswagen</b>(OTC:VWAGY), which has invested $300 million into the battery technology company so far. The two companies have formed a joint venture for a production capacity of 21 gigawatt-hours per year. In September, QuantumScape entered an agreement for 10 megawatt-hours of batteries with another top ten automaker by revenue. The company didn't disclose the name of the automaker. All the above lend credibility to QuantumScape's plans. If successful, QuantumScape's batteries could see immense demand from automakers worldwide.</p><p><blockquote>QuantumScape得到领先汽车制造商的支持<b>大众汽车</b>（场外交易代码：VWAGY），迄今为止已向这家电池技术公司投资了3亿美元。两家公司成立了一家合资企业，产能为每年21吉瓦时。9月，QuantumScape与另一家收入排名前十的汽车制造商签订了10兆瓦时电池的协议。该公司没有透露汽车制造商的名称。以上所有这些都为QuantumScape的计划增添了可信度。如果成功，QuantumScape的电池可能会受到全球汽车制造商的巨大需求。</blockquote></p><p> QuantumScape believes it is progressing as per its plan to start commercial production in 2024. That's a long time and the company's batteries are not yet developed. Investors should&nbsp;bear the risks in mind&nbsp;before deciding to invest in QuantumScape stock.</p><p><blockquote>QuantumScape相信，它正在按照2024年开始商业生产的计划取得进展。那是很长一段时间了，而且该公司的电池还没有开发出来。投资者在决定投资QuantumScape股票之前应牢记风险。</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>Missed Out on Tesla? Here's What to Buy Now<blockquote>错过了特斯拉？这是现在要买的东西</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\">\nMissed Out on Tesla? Here's What to Buy Now<blockquote>错过了特斯拉？这是现在要买的东西</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-12-17 11:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the last two years,<b>Tesla</b>&nbsp;stock has surged more than 1,000%. Investors who missed investing in Tesla two years back could be disheartened. Yet it is worth noting that it is difficult to foresee stocks that can generate Tesla-like returns. The best approach is to invest in companies that you believe can perform well in the long haul. Stocks of such quality companies should generate market-beating returns if you hold them long enough.</p><p><blockquote>最近两年，<b>特斯拉</b>股价飙升超过1000%。两年前错过投资特斯拉的投资者可能会感到沮丧。但值得注意的是，很难预见能够产生特斯拉式回报的股票。最好的方法是投资于你认为长期表现良好的公司。如果你持有这些优质公司的股票足够长的时间，它们应该会产生跑赢市场的回报。</blockquote></p><p> Let's look at three&nbsp;electric vehicle (EV) stocks&nbsp;that have the potential to generate outsize returns in five years, or more.</p><p><blockquote>让我们来看看三只有潜力在五年或更长时间内产生巨额回报的电动汽车(EV)股票。</blockquote></p><p> <b>Lucid Group</b></p><p><blockquote><b>Lucid集团</b></blockquote></p><p> There is a plethora of electric vehicle stocks to choose from right now. Of these,<b>Lucid Group</b>(NASDAQ:LCID)&nbsp;looks promising. There are several reasons to like Lucid Group. Users like the cars' features and designs, and within a short time, Lucid has succeeded in establishing itself as a luxury electric car brand.</p><p><blockquote>目前有太多电动汽车股票可供选择。其中，<b>Lucid集团</b>（纳斯达克：LCID）看起来很有希望。喜欢Lucid Group有几个原因。用户喜欢这些汽车的功能和设计，在很短的时间内，Lucid成功地将自己打造成了豪华电动汽车品牌。</blockquote></p><p> The company not only boasts leading-edge EV technology, but also has&nbsp;solid growth plans. Though Lucid started as a luxury car maker, it has plans to launch EV models for the mass market in the coming years. With one of the most&nbsp;efficient EV technologies, Lucid can potentially generate recurring revenue by licensing its technology to other car companies.&nbsp;The stock will be&nbsp;included&nbsp;in the&nbsp;<b>Nasdaq-100</b>&nbsp;index on Dec. 20.</p><p><blockquote>该公司不仅拥有领先的电动汽车技术，而且还有稳健的增长计划。尽管Lucid最初是一家豪华汽车制造商，但它计划在未来几年推出面向大众市场的电动汽车车型。凭借最高效的电动汽车技术之一，Lucid有可能通过将其技术授权给其他汽车公司来产生经常性收入。该股票将被纳入<b>纳斯达克100</b>12月20日指数。</blockquote></p><p> On the risk side, Lucid is still to prove that it can deliver cars profitably. Investors should also keep an eye on the progress of a&nbsp;recent Securities and Exchange Commission (SEC) investigation&nbsp;relating to its merger with Churchill Capital Corp. IV.</p><p><blockquote>在风险方面，Lucid仍需证明它可以盈利地交付汽车。投资者还应关注美国证券交易委员会（SEC）最近对其与Churchill Capital Corp.IV合并的调查进展。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d0630d0ca5a26df1b8900958ace25117\" tg-width=\"2000\" tg-height=\"1327\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: LUCID GROUP.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：LUCID GROUP。</span></p></blockquote></p><p> <b>BYD</b></p><p><blockquote><b>比亚迪</b></blockquote></p><p> Founded in 1995,<b>BYD</b>(OTC:BYDDY)(OTC:BYDD.F)&nbsp;entered the automobile business in 2003. Apart from automobiles, BYD manufactures mobile handset components, rechargeable batteries, and solar products.<b>Berkshire Hathaway</b>(NYSE:BRK.A)(NYSE:BRK.B)&nbsp;holds a nearly 8% stake in BYD.</p><p><blockquote>成立于1995年，<b>比亚迪</b>（场外交易代码：比亚迪）（场外交易代码：BYDD.F）于2003年进入汽车业务。除汽车外，比亚迪还生产手机零部件、充电电池和太阳能产品。<b>伯克希尔哈撒韦</b>（纽约证券交易所代码：BRK.A）（纽约证券交易所代码：BRK.B）持有比亚迪近8%的股份。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cb8e45b9379833fe0a8f6a1d482857a5\" tg-width=\"2000\" tg-height=\"1161\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> BYD started as an internal combustion engine vehicle manufacturer. Yet, sensing the broader trend, it has quickly shifted to making electric vehicles. In November, more than 90% of BYD's vehicle deliveries were fully electric or plug-in hybrids. Sales of BYD's fully electric models rose 153% year over year in November.</p><p><blockquote>比亚迪以内燃机汽车制造商起家。然而，意识到更广泛的趋势，它已迅速转向制造电动汽车。11月，比亚迪超过90%的汽车交付量是纯电动或插电式混合动力。比亚迪11月全电动车型销量同比增长153%。</blockquote></p><p> The company has captured roughly 18% of China's EV market. A leading position in the fast-growing, huge potential Chinese EV market places BYD well for long-term growth.</p><p><blockquote>该公司已占据中国电动汽车市场约18%的份额。比亚迪在快速增长、潜力巨大的中国电动汽车市场中处于领先地位，有利于长期增长。</blockquote></p><p> BYD stock trades at an&nbsp;attractive valuation&nbsp;compared to several top EV stocks right now. All of the above makes this&nbsp;Warren Buffett stock&nbsp;attractive.</p><p><blockquote>与目前几只顶级电动汽车股票相比，比亚迪股票的估值颇具吸引力。所有这些都使得沃伦·巴菲特的股票具有吸引力。</blockquote></p><p> <b>QuantumScape</b></p><p><blockquote><b>量子景观</b></blockquote></p><p> Batteries are a key component of electric vehicles. All leading auto and battery companies are focused on making batteries more efficient, which will help enhance an EV's range.<b>QuantumScape</b>(NYSE:QS), which went public in November 2020, is a battery start-up working on the next-generation battery technology.</p><p><blockquote>电池是电动汽车的关键部件。所有领先的汽车和电池公司都专注于提高电池效率，这将有助于提高电动汽车的续航里程。<b>量子景观</b>（纽约证券交易所代码：QS）于2020年11月上市，是一家致力于下一代电池技术的电池初创公司。</blockquote></p><p> Currently, lithium-ion batteries are used in electric vehicles. QuantumScape is developing lithium-metal solid-state batteries, using a proprietary ceramic separator. The company believes that its batteries will offer greater energy density, longer life, and faster charging than lithium-ion batteries currently in use.</p><p><blockquote>目前，锂离子电池用于电动汽车。QuantumScape正在开发锂金属固态电池，使用专有的陶瓷隔膜。该公司认为，与目前使用的锂离子电池相比，其电池将提供更大的能量密度、更长的寿命和更快的充电速度。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7c6ead4e5b8f1aaa74490058d439dbfa\" tg-width=\"2000\" tg-height=\"1333\" width=\"100%\" height=\"auto\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> QuantumScape has the backing of leading automaker&nbsp;<b>Volkswagen</b>(OTC:VWAGY), which has invested $300 million into the battery technology company so far. The two companies have formed a joint venture for a production capacity of 21 gigawatt-hours per year. In September, QuantumScape entered an agreement for 10 megawatt-hours of batteries with another top ten automaker by revenue. The company didn't disclose the name of the automaker. All the above lend credibility to QuantumScape's plans. If successful, QuantumScape's batteries could see immense demand from automakers worldwide.</p><p><blockquote>QuantumScape得到领先汽车制造商的支持<b>大众汽车</b>（场外交易代码：VWAGY），迄今为止已向这家电池技术公司投资了3亿美元。两家公司成立了一家合资企业，产能为每年21吉瓦时。9月，QuantumScape与另一家收入排名前十的汽车制造商签订了10兆瓦时电池的协议。该公司没有透露汽车制造商的名称。以上所有这些都为QuantumScape的计划增添了可信度。如果成功，QuantumScape的电池可能会受到全球汽车制造商的巨大需求。</blockquote></p><p> QuantumScape believes it is progressing as per its plan to start commercial production in 2024. That's a long time and the company's batteries are not yet developed. Investors should&nbsp;bear the risks in mind&nbsp;before deciding to invest in QuantumScape stock.</p><p><blockquote>QuantumScape相信，它正在按照2024年开始商业生产的计划取得进展。那是很长一段时间了，而且该公司的电池还没有开发出来。投资者在决定投资QuantumScape股票之前应牢记风险。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/12/16/missed-out-on-tesla-heres-what-to-buy-now/\">Motley Fool</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":{"QS":"Quantumscape Corp.","LCID":"Lucid Group Inc","BYDDY":"比亚迪ADR","01211":"比亚迪股份"},"source_url":"https://www.fool.com/investing/2021/12/16/missed-out-on-tesla-heres-what-to-buy-now/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115262079","content_text":"In the last two years,Tesla stock has surged more than 1,000%. Investors who missed investing in Tesla two years back could be disheartened. Yet it is worth noting that it is difficult to foresee stocks that can generate Tesla-like returns. The best approach is to invest in companies that you believe can perform well in the long haul. Stocks of such quality companies should generate market-beating returns if you hold them long enough.\nLet's look at three electric vehicle (EV) stocks that have the potential to generate outsize returns in five years, or more.\nLucid Group\nThere is a plethora of electric vehicle stocks to choose from right now. Of these,Lucid Group(NASDAQ:LCID) looks promising. There are several reasons to like Lucid Group. Users like the cars' features and designs, and within a short time, Lucid has succeeded in establishing itself as a luxury electric car brand.\nThe company not only boasts leading-edge EV technology, but also has solid growth plans. Though Lucid started as a luxury car maker, it has plans to launch EV models for the mass market in the coming years. With one of the most efficient EV technologies, Lucid can potentially generate recurring revenue by licensing its technology to other car companies. The stock will be included in the Nasdaq-100 index on Dec. 20.\nOn the risk side, Lucid is still to prove that it can deliver cars profitably. Investors should also keep an eye on the progress of a recent Securities and Exchange Commission (SEC) investigation relating to its merger with Churchill Capital Corp. IV.\nIMAGE SOURCE: LUCID GROUP.\nBYD\nFounded in 1995,BYD(OTC:BYDDY)(OTC:BYDD.F) entered the automobile business in 2003. Apart from automobiles, BYD manufactures mobile handset components, rechargeable batteries, and solar products.Berkshire Hathaway(NYSE:BRK.A)(NYSE:BRK.B) holds a nearly 8% stake in BYD.\nIMAGE SOURCE: GETTY IMAGES.\nBYD started as an internal combustion engine vehicle manufacturer. Yet, sensing the broader trend, it has quickly shifted to making electric vehicles. In November, more than 90% of BYD's vehicle deliveries were fully electric or plug-in hybrids. Sales of BYD's fully electric models rose 153% year over year in November.\nThe company has captured roughly 18% of China's EV market. A leading position in the fast-growing, huge potential Chinese EV market places BYD well for long-term growth.\nBYD stock trades at an attractive valuation compared to several top EV stocks right now. All of the above makes this Warren Buffett stock attractive.\nQuantumScape\nBatteries are a key component of electric vehicles. All leading auto and battery companies are focused on making batteries more efficient, which will help enhance an EV's range.QuantumScape(NYSE:QS), which went public in November 2020, is a battery start-up working on the next-generation battery technology.\nCurrently, lithium-ion batteries are used in electric vehicles. QuantumScape is developing lithium-metal solid-state batteries, using a proprietary ceramic separator. The company believes that its batteries will offer greater energy density, longer life, and faster charging than lithium-ion batteries currently in use.\nIMAGE SOURCE: GETTY IMAGES.\nQuantumScape has the backing of leading automaker Volkswagen(OTC:VWAGY), which has invested $300 million into the battery technology company so far. The two companies have formed a joint venture for a production capacity of 21 gigawatt-hours per year. In September, QuantumScape entered an agreement for 10 megawatt-hours of batteries with another top ten automaker by revenue. The company didn't disclose the name of the automaker. All the above lend credibility to QuantumScape's plans. If successful, QuantumScape's batteries could see immense demand from automakers worldwide.\nQuantumScape believes it is progressing as per its plan to start commercial production in 2024. That's a long time and the company's batteries are not yet developed. Investors should bear the risks in mind before deciding to invest in QuantumScape stock.","news_type":1,"symbols_score_info":{"01211":0.9,"LCID":0.9,"QS":0.9,"BYDDY":0.9}},"isVote":1,"tweetType":1,"viewCount":2131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607760188,"gmtCreate":1639599769072,"gmtModify":1639599769361,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Here marks the crash","listText":"Here marks the crash","text":"Here marks the crash","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607760188","repostId":"1111705843","repostType":4,"repost":{"id":"1111705843","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639594904,"share":"https://www.laohu8.com/m/news/1111705843?lang=zh_CN&edition=full","pubTime":"2021-12-16 03:01","market":"us","language":"en","title":"Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1111705843","media":"Tiger Newspress","summary":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since ","content":"<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</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>Fed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</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\">\nFed will aggressively dial back its monthly bond buying, sees three rate hikes next year<blockquote>美联储将大幅缩减月度债券购买规模，预计明年将加息三次</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-16 03:01</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.</p><p><blockquote>美联储周三提供了多种迹象，表明自新冠疫情开始以来的超宽松政策即将结束，其举措甚至比市场预期的更加激进。</blockquote></p><p> For one, the Fed said it will accelerate the reduction of its monthly bond purchases.</p><p><blockquote>其一，美联储表示将加速缩减每月债券购买规模。</blockquote></p><p> The Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.</p><p><blockquote>美联储将从1月份开始每月购买600亿美元的债券，是11月份缩减前水平的一半，比12月份购买的债券减少300亿美元。美联储在11月份每月缩减150亿美元，是12月份的两倍，然后将在2022年进一步加速缩减。</blockquote></p><p> After that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.</p><p><blockquote>之后，可能在三月份左右，央行预计将开始加息，在本周的会议上利率保持稳定。</blockquote></p><p> Projections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.</p><p><blockquote>周三发布的预测显示，美联储官员预计2022年将加息多达三次，次年加息两次，2024年加息两次。</blockquote></p><p> The Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.</p><p><blockquote>联邦公开市场委员会一致通过的举措代表了对其108年历史上最宽松的政策的重大调整。会后声明指出了通货膨胀的影响。</blockquote></p><p> “Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.</p><p><blockquote>声明称：“与疫情和经济重新开放相关的供需失衡继续导致通胀水平上升。”</blockquote></p><p> The statement also noted that “job gains have been solid in recent months, and the unemployment&nbsp;rate has declined substantially.”</p><p><blockquote>声明还指出，“近几个月就业增长稳健，失业率大幅下降。”</blockquote></p><p> Both policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.</p><p><blockquote>这两项政策举措都是为了应对不断升级的通胀，目前消费者价格处于39年来的最高水平。11月份批发价格上涨9.6%，为有记录以来最快，表明通胀压力正变得更加根深蒂固和广泛。</blockquote></p><p> Fed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.</p><p><blockquote>美联储官员长期以来一直强调通胀是“暂时的”，主席杰罗姆·鲍威尔将其定义为不太可能给经济留下持久的影响。他和其他央行领导人以及财政部长珍妮特·耶伦强调，由于与大流行相关的因素，例如需求超过供应但最终会消退，价格正在飙升。</blockquote></p><p> However, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”</p><p><blockquote>然而，这个词已成为贬义词，会后声明将其删除。鲍威尔上个月在国会作证期间传达了这一举措，称“现在可能是放弃这个词并尝试更清楚地解释我们的意思的好时机。”</blockquote></p><p> For the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.</p><p><blockquote>对于鲍威尔美联储来说，现在的紧缩政策标志着一年多前颁布的政策的戏剧性转变。被称为“灵活的平均通胀目标”，这意味着它将满足于通胀略高于或低于其长期持有的2%目标。</blockquote></p><p> The policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.</p><p><blockquote>该政策的实际应用是，美联储愿意让通胀稍微升温，以彻底治愈劳动力市场在大流行期间遭受的打击。美联储的新政策寻求跨越种族、性别和经济界限的充分和包容性就业。官员们同意不会像央行过去那样，因预期通胀上升而加息。</blockquote></p><p> However, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.</p><p><blockquote>然而，随着“暂时性”叙事受到质疑，通胀开始看起来更强劲、更持久，美联储不得不重新思考其意图并改变策略。</blockquote></p><p> The asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.</p><p><blockquote>资产购买taper始于11月，国债购买量减少100亿美元，抵押贷款支持证券购买量减少50亿美元。尽管如此，本月的购买额仍分别为700亿美元和350亿美元。</blockquote></p><p> However, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.</p><p><blockquote>然而，美联储8.7万亿美元的资产负债表在过去四周仅增加了20亿美元，国债持有量增加了520亿美元，MBS实际减少了230亿美元。过去12个月，美国国债持有量增加了9780亿美元，而MBS持有量增加了5670亿美元。</blockquote></p><p> Under the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.</p><p><blockquote>根据量化宽松计划的新条款，美联储将加速减持，直到不再增加其投资组合。这将使量化宽松在春季结束，并允许美联储在此后随时加息。美联储表示，可能不会同时加息和继续购买债券，因为这两项举措会产生交叉目的。</blockquote></p><p> From there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.</p><p><blockquote>从那时起，美联储可以随时开始缩减资产负债表，要么直接出售证券，要么在更有可能的情况下，开始允许其当前债券持有的收益每月以受控的速度流失。</blockquote></p><p> Powell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.</p><p><blockquote>鲍威尔可能会在下午2:30面临质询。美国东部时间关于资产负债表未来的新闻发布会，自大流行初期以来，资产负债表已扩大了近3.9万亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111705843","content_text":"The Federal Reserve provided multiple indications Wednesday that its run of ultra-easy policy since the beginning of the Covid pandemic is coming to a close, making moves that were even more aggressive than markets had anticipated.\nFor one, the Fed said it will accelerate the reduction of its monthly bond purchases.\nThe Fed will be buying $60 billion of bonds each month starting January, half the level prior to the November taper and $30 billion less than it had been buying in December. The Fed was tapering by $15 billion a month in November, doubled that in December, then will accelerate the reduction further come 2022.\nAfter that wraps up, probably around March, the central bank expects to start raising interest rates, which were held steady at this week’s meeting.\nProjections released Wednesday indicate that Fed officials see as many as three rate hikes coming in 2022, with two in the following year and two more in 2024.\nThe Federal Open Market Committee’s moves, approved unanimously, represent a substantial adjustment to policy that has been the loosest in its 108-year history. The post-meeting statement noted the impact from inflation.\n“Supply and demand imbalances related to the pandemic and the reopening of the economy have continued to contribute to elevated levels of inflation,” the statement said.\nThe statement also noted that “job gains have been solid in recent months, and the unemployment rate has declined substantially.”\nBoth policy moves came in response to escalating inflation, which is running at its highest level in 39 years for consumer prices. Wholesale prices in November jumped 9.6%, the fastest on record in a sign that inflation pressures are becoming more ingrained and broad-based.\nFed officials long have stressed that inflation is “transitory,” which Chairman Jerome Powell has defined as unlikely to leave a lasting imprint on the economy. He and other central bank leaders, as well as Treasury Secretary Janet Yellen, have stressed that prices are booming due to pandemic-related factors such as extraordinary demand that has outstripped supply but ultimately will fade.\nHowever, the term had become a pejorative and the post-meeting statement eliminated it. Powell telegraphed the move during congressional testimony last month, saying “it’s probably a good time to retire that word and try to explain more clearly what we meant.”\nFor the Powell Fed, tightening policy now marks a dramatic pivot off a policy enacted just over a year ago. Known as “flexible average inflation targeting,” which meant it would be content with inflation a little above or below its long-held 2% target.\nThe policy’s practical application was that the Fed was willing to let inflation run a little hot in the interest of completely healing the labor market from the hit it took during the pandemic. The Fed’s new policy sought employment that was both full and inclusive across racial, gender and economic lines. Officials agreed not to raise interest rates in anticipation of rising inflation, as the central bank had done in the past.\nHowever, as the “transitory” narrative came into question and inflation began to look stronger and more durable, the Fed has had to rethink its intentions and change gears.\nThe asset purchase taper began in November, with a reduction of $10 billion in Treasury purchases and $5 billion in mortgage-backed securities. That still left the month buys at $70 billion and $35 billion respectively.\nHowever, the Fed’s $8.7 trillion balance sheet increased by just $2 billion over the past four weeks, with Treasury holdings up $52 billion and MBS actually reduced by $23 billion. Over the past 12 months, Treasury holdings have expanded by $978 billion while MBS have risen by $567 billion.\nUnder the new terms of a program also known as quantitative easing, the Fed would accelerate the decline of its holdings until it is no longer adding to its portfolio. That would bring QE to an end in the spring and allow the Fed to raise rates anytime after. The Fed has said it likely would not raise rates and continue buying bonds simultaneously, as the two moves would work at cross purposes.\nFrom there, the Fed at anytime could start reducing its balance sheet either by selling securities outright, or, in the more likely scenario, begin allowing the proceeds of its current bond holdings to run off each month at a controlled pace.\nPowell likely will face questioning at his 2:30 p.m. ET news conference about the future of the balance sheet, which has expanded by nearly $3.9 trillion since the early pandemic days.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":897,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607034870,"gmtCreate":1639455512995,"gmtModify":1639455513243,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"The list is endless","listText":"The list is endless","text":"The list is endless","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607034870","repostId":"1120286910","repostType":4,"repost":{"id":"1120286910","kind":"news","pubTimestamp":1639453388,"share":"https://www.laohu8.com/m/news/1120286910?lang=zh_CN&edition=full","pubTime":"2021-12-14 11:43","market":"us","language":"en","title":"PayPal's Recent Price Decline Will Eventually Happen To Nearly All Overvalued Technology Stocks<blockquote>PayPal最近的价格下跌最终将发生在几乎所有被高估的科技股身上</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1120286910","media":"Seeking Alpha","summary":"Summary\n\nPayPal stock is down over -35% off this year's highs, and the stock still isn't cheap.\nI wa","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PayPal stock is down over -35% off this year's highs, and the stock still isn't cheap.</li>  <li>I warned investors back in February of 2021 that PayPal was extremely overvalued and worth selling.</li>  <li>That warning could have been issued for dozens and dozens of overvalued technology stocks that still have over -50% downside from here within the next 3 years.</li>  <li>PayPal remains a great company that I would like to own, so I analyze the stock in order to establish I price at which I'd be willing to buy it.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/847095b0be294275f55f7e8f700d56b4\" tg-width=\"1536\" tg-height=\"1229\" width=\"100%\" height=\"auto\"><span>BsWei/iStock via Getty Images</span></p><p><blockquote><ul><li>PayPal股价较今年高点下跌超过-35%，而且该股仍然不便宜。</li><li>我早在2021年2月就警告投资者，PayPal的估值被严重高估，值得出售。</li><li>这一警告可能是针对数十只被高估的科技股发出的，这些股在未来3年内仍有超过-50%的下跌空间。</li><li>PayPal仍然是一家我想拥有的伟大公司，因此我分析该股票以确定我愿意购买它的价格。</li></ul><p class=\"t-img-caption\"><span>BsWei/iStock来自Getty Images</span></p></blockquote></p><p> <b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p> Back on February 6th, 2021, I made a video where I shared with investors why PayPal (PYPL) stock was overvalued enough to sell. I shared that video on my Seeking Alpha bloghere. Since that time, PayPal has performed poorly both on an absolute basis and relative to the S&amp;P 500 (SPY).</p><p><blockquote>早在2021年2月6日，我就制作了一段视频，与投资者分享了为什么PayPal(PYPL)股票被高估到足以出售。我在我的Seeking Alpha bloghere上分享了该视频。自那时以来，PayPal的绝对表现和相对于标普500（SPDR标普500指数ETF）的表现都很差。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8252b7218af36cce8b5a591f56abaecd\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The stock price is down about -30% since I warned investors and down about -38% off its high price of the year.</p><p><blockquote>自从我向投资者发出警告以来，该股股价已下跌约-30%，较今年的高点下跌约-38%。</blockquote></p><p> The truth is that I could have issued the same warning about many other technology stocks that had become overvalued, but PayPal was one that I actually wanted to buy if the price ever fell to a reasonable level. It was a case where there was absolutely nothing wrong with the company. There was no bad story to tell. The price had simply gotten insanely overvalued. It didn't matter how good the story around PayPal was back in February. Numbers almost always trump narrative over the long-term. And the numbers back then didn't make sense.</p><p><blockquote>事实是，我本可以对许多其他被高估的科技股发出同样的警告，但如果价格跌至合理水平，我实际上想买入PayPal。这是一个公司绝对没有问题的案例。没有什么不好的故事可讲。这个价格被高估了。二月份围绕PayPal的故事有多好并不重要。从长远来看，数字几乎总是胜过叙事。当时的数字没有意义。</blockquote></p><p> This should be an important lesson for medium and long-term investors. If the numbers don't work, it doesn't matter what the story is.</p><p><blockquote>这应该是中长线投资者的重要一课。如果数字不起作用，故事是什么并不重要。</blockquote></p><p> The difficultly for a stock writer like myself is that investors<i>love</i>narratives and stories. It's not our fault. Our human brains are hardwired that way. Since I shared my bearish February PayPal video, out of 62 articles on Seeking Alpha covering PayPal, there hasn't been a single \"Bearish\" article written. The primary reason for that is because PayPal's narrative was so appealing that valuation numbers were either ignored, or the assumptions around the numbers were not realistic.</p><p><blockquote>对于像我这样的股票作家来说，困难的是投资者<i>爱</i>叙事和故事。这不是我们的错。我们人类的大脑天生就是这样。自从我分享了我看跌的2月份PayPal视频以来，Seeking Alpha上报道PayPal的62篇文章中，没有一篇“看跌”文章。主要原因是PayPal的叙述如此吸引人，以至于估值数字要么被忽视，要么围绕这些数字的假设不现实。</blockquote></p><p> In this article, I'm going to share my current PayPal valuation based on earnings and earnings growth projections. I'll also share what I consider to be a fair value range for PayPal stock, and the price I would be looking to buy with a margin of safety. This is the same basic process I used to determine that PayPal stock was overvalued back in February of 2021.</p><p><blockquote>在本文中，我将分享我目前基于盈利和盈利增长预测的PayPal估值。我还将分享我认为PayPal股票的公允价值范围，以及我希望在安全边际的情况下购买的价格。这与我在2021年2月用来确定PayPal股票被高估的基本过程相同。</blockquote></p><p> <b>Full-Cycle Earnings Analysis</b></p><p><blockquote><b>全周期盈利分析</b></blockquote></p><p> As part of the analysis, I calculate what I consider to be the two main drivers of future total returns: Market sentiment returns and business returns. I then combine those expected returns together in the form of a 10-year CAGR expectation and use that to value the stock.</p><p><blockquote>作为分析的一部分，我计算了我认为未来总回报的两个主要驱动因素：市场情绪回报和商业回报。然后，我将这些预期回报以10年复合年增长率预期的形式组合在一起，并用它来评估股票。</blockquote></p><p> Before I begin this analysis, I always check the business's long-term earnings patterns in order to ensure that the business is a proper fit for this sort of analysis. If the historical earnings 1) don't have a long enough history 2) are erratic in nature, or 3) are too cyclical, then I either avoid analyzing the stock altogether or I use a different type of analysis that is more appropriate.</p><p><blockquote>在我开始这种分析之前，我总是检查企业的长期盈利模式，以确保企业适合这种分析。如果历史收益1）没有足够长的历史2）本质上不稳定，或者3）周期性太强，那么我要么完全避免分析股票，要么使用更合适的不同类型的分析。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70078307e65a5a1d0e37f9e70b726b77\" tg-width=\"640\" tg-height=\"490\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> We can see that since 2015 PayPal's earnings per share have increased every single year. This is a clear secular growth pattern and it makes the stock very attractive as a long-term investment. Since 2015 there haven't been any negative earnings growth years so the stock is likely a good fit for the type of earnings analysis I'm going to perform. One important question to ask, though, is that while we did have a brief recession in 2020, it was a very unusual one. It's possible that PayPal's business could be more economically sensitive during a longer, more drawn-out recession. So, that is a risk. However, when I examined how eBay (EBAY) performed in the 2008/9 recession, its earnings growth was basically flat, and never went negative. If I had to make a guess, I think PayPal's earnings growth rate would probably decline during a \"normal\" recession, but still wouldn't be especially cyclical. For those reasons, I'm going to go ahead with my Full-Cycle Earnings Analysis even though we don't have hard historical data from \"normal\" recession for PayPal.</p><p><blockquote>我们可以看到，自2015年以来，PayPal的每股收益每年都在增长。这是一个明显的长期增长模式，它使该股票作为长期投资非常有吸引力。自2015年以来，没有出现过任何盈利负增长的年份，因此该股票可能非常适合我将要进行的盈利分析类型。不过，要问的一个重要问题是，虽然我们在2020年确实经历了短暂的衰退，但这是一次非常不寻常的衰退。在更长、更持久的经济衰退期间，PayPal的业务可能会对经济更加敏感。所以，这是一个风险。然而，当我考察eBay(EBAY)在2008/9年经济衰退中的表现时，其盈利增长基本持平，从未出现过负增长。如果让我猜的话，我认为PayPal的盈利增长率可能会在“正常”衰退期间下降，但仍然不会特别具有周期性。出于这些原因，尽管我们没有PayPal“正常”衰退的硬历史数据，但我仍将继续进行全周期盈利分析。</blockquote></p><p> <b>Market Sentiment Return Expectations</b></p><p><blockquote><b>市场情绪回归预期</b></blockquote></p><p></p><p> In order to estimate what sort of returns we might expect over the next 10 years, let's begin by examining what return we could expect 10 years from now if the P/E multiple were to revert to its mean from the previous economic cycle. Since we have had a recent recession (albeit an unusual one) I'm starting this cycle in fiscal year 2015 and running it through 2021's estimates.</p><p><blockquote>为了估计未来10年我们可能预期的回报，让我们首先研究一下，如果市盈率倍数恢复到上一个经济周期的平均值，我们从现在起10年后可以预期的回报。由于我们最近经历了一次衰退（尽管是一次不寻常的衰退），我将在2015财年开始这个周期，并通过2021年的估计运行它。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e36d2c3455962a02d96b8c88c32eadce\" tg-width=\"640\" tg-height=\"490\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> PayPal's average P/E from 2015 to the present has been a healthy 34.11 (the blue bar circled in gold on the FAST Graph). Using 2021's forward earnings estimates of $4.60 (also circled in gold), PayPal has a current P/E of 40.73. If that 40.73 P/E were to revert to the average P/E of 34.11 over the course of the next 10 years and everything else was held the same, PayPal's price would fall and it would produce a 10-Year CAGR of<b>-1.75%</b>. That's the annual return we can expect from sentiment mean reversion if it takes ten years to revert. If it takes less time to revert, the price could fall faster.</p><p><blockquote>PayPal从2015年至今的平均市盈率为34.11（快速图上用金色圈出的蓝色条）。使用2021年4.60美元的预期盈利预测（也用金色圈出），PayPal目前的市盈率为40.73。如果40.73市盈率在未来10年恢复到34.11的平均市盈率，而其他条件保持不变，PayPal的股价将会下跌，10年复合年增长率将为<b>-1.75%</b>如果情绪均值回归需要十年时间，这就是我们可以从情绪均值回归中预期的年回报率。如果恢复所需的时间更短，价格可能会下跌得更快。</blockquote></p><p> <b>Business Earnings Expectations</b></p><p><blockquote><b>业务盈利预期</b></blockquote></p><p> We previously examined what would happen if market sentiment reverted to the mean. This is entirely determined by the mood of the market and is quite often disconnected, or only loosely connected, to the performance of the actual business. In this section, we will examine the actual earnings of the business. The goal here is simple: We want to know how much money we would earn (expressed in the form of a CAGR %) over the course of 10 years if we bought the business at today's prices and kept all of the earnings for ourselves.</p><p><blockquote>我们之前研究了如果市场情绪恢复到均值会发生什么。这完全由市场情绪决定，并且通常与实际业务的表现脱节，或者只是松散地联系在一起。在本节中，我们将检查企业的实际收益。这里的目标很简单：我们想知道如果我们以今天的价格收购企业并将所有收益留给自己，我们在10年内会赚多少钱（以CAGR%的形式表示）。</blockquote></p><p> There are two main components of this: the first is the earnings yield and the second is the rate at which the earnings can be expected to grow. Let's start with the earnings yield (which is an inverted P/E ratio, so, the Earnings/Price ratio). The current earnings yield is about +2.46%. The way I like to think about this is, if I bought the company's whole business right now for $100, I would earn $2.46 per year on my investment if earnings remained the same for the next 10 years.</p><p><blockquote>这有两个主要组成部分：第一个是收益收益率，第二个是收益的预期增长率。让我们从收益率（这是一个倒置的市盈率，因此，市盈率）开始。目前的收益率约为+2.46%。我喜欢思考这个问题的方式是，如果我现在以100美元购买公司的整个业务，如果未来10年收益保持不变，我每年的投资将获得2.46美元。</blockquote></p><p> The next step is to estimate the company's earnings growth during this time period. I do that by figuring out at what rate earnings grew during the last cycle and applying that rate to the next 10 years. This involves calculating the EPS growth rate since 2015, taking into account each year's EPS growth or decline, and then backing out any share buybacks that occurred over that time period (because reducing shares will increase the EPS due to fewer shares).</p><p><blockquote>下一步是估计公司在这段时间内的盈利增长。我通过计算上一个周期的收益增长率并将该增长率应用于未来10年来做到这一点。这涉及计算自2015年以来的每股收益增长率，考虑每年的每股收益增长或下降，然后退出该时期发生的任何股票回购（因为减持股票会因股票减少而增加每股收益）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f31b7d8ed5f59c82c2531cc686324d1a\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Due to the scale of the graph, the buybacks look much bigger than they actually are, and there isn't much to adjust here. Additionally, since PayPal has grown earnings every year there are no earnings growth declines to adjust for either. This makes estimating PayPal's earnings growth a relatively straightforward affair, and I estimate PayPal's earnings growth at about +23.65%.</p><p><blockquote>由于图表的规模，回购看起来比实际要大得多，这里没有太多调整。此外，由于PayPal的盈利每年都在增长，因此无需调整盈利增长下降。这使得估计PayPal的盈利增长变得相对简单，我估计PayPal的盈利增长约为+23.65%。</blockquote></p><p> Now, this is the point where my conservatism when it comes to asking myself \"What is a reasonable expectation, for valuation purposes, going forward 10 years?\" It is very, very difficult for businesses to grow earnings over 20% per year for a full decade (particularly if they have already been doing that the previous decade). For that reason, I cap all of my long-term forward earnings growth estimates when using them for valuation purposes at 20%. This is simply a way to help keep me from overpaying for a stock when their P/E multiple is likely to contract over time. So, for this valuation exercise, I am limiting my earnings growth assumption to 20%.</p><p><blockquote>现在，当我问自己“出于估值目的，未来10年的合理预期是什么？”对于企业来说，在整整十年的时间里，收入每年增长超过20%是非常非常困难的（特别是如果他们在过去十年里已经这样做了）。因此，在用于估值目的时，我将所有长期预期盈利增长预测限制在20%。当股票的市盈率可能会随着时间的推移而收缩时，这只是一种帮助我避免为股票支付过高价格的方法。因此，对于这次估值工作，我将盈利增长假设限制在20%。</blockquote></p><p> Next, I'll apply that growth rate to current earnings, looking forward 10 years in order to get a final 10-year CAGR estimate. The way I think about this is, if I bought PayPal's whole business for $100, it would pay me back $2.46 plus +20.00% growth the first year, and that amount would grow at +20.00% per year for 10 years after that. I want to know how much money I would have in total at the end of 10 years on my $100 investment, which I calculate to be about $176.50 (including the original $100). When I plug that growth into a CAGR calculator, that translates to a<b>+5.85%</b>10-year CAGR estimate for the expected business earnings returns.</p><p><blockquote>接下来，我将将该增长率应用于当前收益，展望10年，以获得最终的10年复合年增长率估计。我的想法是，如果我以100美元收购PayPal的整个业务，它将在第一年偿还我2.46美元，外加+20.00%的增长，并且在那之后的10年里，这个数额将以每年+20.00%的速度增长。我想知道我的100美元投资在10年后总共会有多少钱，我计算出大约是176.50美元（包括最初的100美元）。当我将这种增长插入CAGR计算器时，就会转化为<b>+5.85%</b>预期业务盈利回报的10年复合年增长率估计。</blockquote></p><p> <b>10-Year, Full-Cycle CAGR Estimate</b></p><p><blockquote><b>10年全周期复合年增长率估计</b></blockquote></p><p></p><p> Potential future returns can come from two main places: market sentiment returns or business earnings returns. If we assume that market sentiment reverts to the mean from the last cycle over the next 10 years for PayPal, it will produce a -1.75% CAGR. If the earnings yield and growth are similar to the last cycle, the company should produce somewhere around a +5.85% 10-year CAGR. If we put the two together, we get an expected 10-year, full-cycle CAGR of<b>+4.10%</b>at today's price.</p><p><blockquote>潜在的未来回报可以来自两个主要地方：市场情绪回报或业务收益回报。如果我们假设PayPal未来10年的市场情绪恢复到上一个周期的平均值，则复合年增长率将为-1.75%。如果盈利收益率和增长与上一个周期相似，该公司的10年复合年增长率应该在+5.85%左右。如果我们将两者放在一起，我们会得到预期的10年全周期复合年增长率为<b>+4.10%</b>以今天的价格。</blockquote></p><p> My Buy/Sell/Hold range for this category of stocks is: above a 12% CAGR is a Buy, below a 4% expected CAGR is a Sell, and in between 4% and 12% is a Hold. This puts PayPal stock just barely into the \"Hold\" category at today's price level.</p><p><blockquote>我对此类股票的买入/卖出/持有范围是：复合年增长率高于12%为买入，预期复合年增长率低于4%为卖出，4%至12%之间为持有。这使得PayPal股票在今天的价格水平上勉强属于“持有”类别。</blockquote></p><p> <b>Additional Considerations</b></p><p><blockquote><b>其他注意事项</b></blockquote></p><p> I consider PayPal one of the highest quality growth stocks in the market right now, which is why I've been monitoring its valuation relatively closely. In this section I'm going to share my fair value range for PayPal along with the price I would be willing to buy the stock with a margin of safety based on earnings, and also the price I would consider buying using a more aggressive and less conservative valuation approach. So, I'm going to look at PayPal's valuation from a variety of different perspectives to give us a clearer view of what might be an appropriate price to pay for the stock.</p><p><blockquote>我认为PayPal是目前市场上质量最高的成长型股票之一，这就是为什么我一直相对密切地关注其估值。在本节中，我将分享我对PayPal的公允价值范围，以及我愿意在基于收益的安全边际下购买该股票的价格，以及我考虑使用更激进和不太保守的估值方法购买的价格。因此，我将从各种不同的角度来看PayPal的估值，让我们更清楚地了解购买该股票的合适价格。</blockquote></p><p> First, I'll start with my buy price and fair value range using the same assumptions and inputs I used in this article. If we use all of those same inputs my current fair value range for PayPal is about $126.50 to $164.00 per share. My current buy price that includes a margin of safety is $112.10. Investors who buy below that price have very good odds of great returns over the medium-term with the stock.</p><p><blockquote>首先，我将使用本文中使用的相同假设和输入从我的购买价格和公允价值范围开始。如果我们使用所有这些相同的输入，我目前对PayPal的公允价值范围约为每股126.50美元至164.00美元。我目前的买入价格（包括安全边际）是112.10美元。低于该价格买入的投资者在中期内很有可能获得丰厚的回报。</blockquote></p><p> Once we get into the new year and 2022, I'll start pulling forward PayPal's 2022 earnings for my estimates. Right now, analysts expect $5.25 per share from earnings in 2022. That will improve PayPal's valuation a lot if the rest of their metrics remain the same, and it would raise their fair value range up to $145.00 to $187.50 dollars per share with a margin of safety buy price at $128.00 per share. This, of course, assumes analysts keep their estimates for 2022 in place and don't lower them over the next couple of months. It also means, based on future earnings, that in a month or two if PayPal keeps trading near its current price, it is already in the top end of a \"fair value\" price range. This might be a further reason for current owners to keep holding.</p><p><blockquote>一旦我们进入新的一年和2022年，我将开始提前预测PayPal 2022年的盈利。目前，分析师预计2022年每股收益为5.25美元。如果PayPal的其他指标保持不变，这将大大提高其估值，并将其公允价值范围提高至每股145.00美元至187.50美元，安全买入价格为每股128.00美元。当然，这是假设分析师维持对2022年的预期不变，并且在未来几个月内不会降低预期。这也意味着，根据未来的收益，如果PayPal在一两个月内保持接近当前价格的交易，它已经处于“公允价值”价格范围的上限。这可能是当前所有者继续持有的另一个原因。</blockquote></p><p> The Full-Cycle Earnings analysis I used in this article is not the only type of analysis I use. For certain rare businesses with fast profit growth dynamics, I recently developed a new analysis to help identify fast-growing businesses that might never become cheap enough to buy based on earnings alone. The methods of this analysis are exclusive to my private service, The Cyclical Investor's Club, but since PayPal's profit growth is very strong, it actually qualifies for this type of analysis, too, and I thought I would at least share the sort of \"buy price\" that analysis produces because it's a little more aggressive than the earnings-based analysis.</p><p><blockquote>我在本文中使用的全周期收益分析并不是我使用的唯一分析类型。对于某些利润快速增长的罕见企业，我最近开发了一种新的分析方法，以帮助识别仅根据收益可能永远不会变得足够便宜的快速增长企业。这种分析的方法是我的私人服务机构周期性投资者俱乐部独有的，但由于PayPal的利润增长非常强劲，它实际上也有资格进行这种类型的分析，我想我至少会分享这种分析产生的“购买价格”，因为它比基于收益的分析更激进一些。</blockquote></p><p> When I examine PayPal using the profit growth analysis, it produces a buy price of $144.90. I find that interesting because if profits keep growing this quarter that price is likely to rise a little bit and put it pretty close to the middle of fair value using next year's earnings using my earnings-based method. This assumes that PayPal's metrics don't deteriorate between now and then, and there would be some technical requirements PayPal would have to meet as well, but I think the odds are good that by February of 2022 I could be a buyer of PayPal stock, approximately one year after I warned investors about its high valuation. It's going to be very interesting to see how it turns out.</p><p><blockquote>当我使用利润增长分析来检查PayPal时，它得出的买入价格为144.90美元。我觉得这很有趣，因为如果本季度利润继续增长，价格可能会上涨一点，并使用我的基于收益的方法，使用明年的收益，使其非常接近公允价值的中间值。这是假设PayPal的指标从现在到那时不会恶化，而且PayPal也必须满足一些技术要求，但我认为到2022年2月，我很有可能成为PayPal股票的买家，大约在我警告投资者其高估值一年后。看看结果会很有趣。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> I think PayPal's 2021 decline is an interesting and useful case study that goes beyond PayPal itself. The sort of decline we've seen in PayPal's stock price this year was entirely predictable and there are many other richly valued technology stocks that will experience a similar decline, likely in 2022 for most of them. For investors who are overweight these types of stocks, now is probably a time to consider diversifying in order to help keep the gains they have experienced the past couple of years. While there will be some overvalued stocks that simply stagnate for several years and go nowhere, and a rare few that manage to keep rising, the vast majority will experience declines like PayPal has experienced.</p><p><blockquote>我认为PayPal 2021年的衰落是一个有趣且有用的案例研究，超越了PayPal本身。我们今年看到的PayPal股价下跌是完全可以预见的，还有许多其他估值丰厚的科技股也将经历类似的下跌，其中大多数可能在2022年。对于跑赢大盘此类股票的投资者来说，现在可能是考虑多元化的时候了，以帮助保持过去几年的收益。虽然会有一些被高估的股票停滞不前几年，毫无进展，也有极少数股票设法继续上涨，但绝大多数股票将经历像PayPal那样的下跌。</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>PayPal's Recent Price Decline Will Eventually Happen To Nearly All Overvalued Technology Stocks<blockquote>PayPal最近的价格下跌最终将发生在几乎所有被高估的科技股身上</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\">\nPayPal's Recent Price Decline Will Eventually Happen To Nearly All Overvalued Technology Stocks<blockquote>PayPal最近的价格下跌最终将发生在几乎所有被高估的科技股身上</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-14 11:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PayPal stock is down over -35% off this year's highs, and the stock still isn't cheap.</li>  <li>I warned investors back in February of 2021 that PayPal was extremely overvalued and worth selling.</li>  <li>That warning could have been issued for dozens and dozens of overvalued technology stocks that still have over -50% downside from here within the next 3 years.</li>  <li>PayPal remains a great company that I would like to own, so I analyze the stock in order to establish I price at which I'd be willing to buy it.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/847095b0be294275f55f7e8f700d56b4\" tg-width=\"1536\" tg-height=\"1229\" width=\"100%\" height=\"auto\"><span>BsWei/iStock via Getty Images</span></p><p><blockquote><ul><li>PayPal股价较今年高点下跌超过-35%，而且该股仍然不便宜。</li><li>我早在2021年2月就警告投资者，PayPal的估值被严重高估，值得出售。</li><li>这一警告可能是针对数十只被高估的科技股发出的，这些股在未来3年内仍有超过-50%的下跌空间。</li><li>PayPal仍然是一家我想拥有的伟大公司，因此我分析该股票以确定我愿意购买它的价格。</li></ul><p class=\"t-img-caption\"><span>BsWei/iStock来自Getty Images</span></p></blockquote></p><p> <b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p> Back on February 6th, 2021, I made a video where I shared with investors why PayPal (PYPL) stock was overvalued enough to sell. I shared that video on my Seeking Alpha bloghere. Since that time, PayPal has performed poorly both on an absolute basis and relative to the S&amp;P 500 (SPY).</p><p><blockquote>早在2021年2月6日，我就制作了一段视频，与投资者分享了为什么PayPal(PYPL)股票被高估到足以出售。我在我的Seeking Alpha bloghere上分享了该视频。自那时以来，PayPal的绝对表现和相对于标普500（SPDR标普500指数ETF）的表现都很差。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8252b7218af36cce8b5a591f56abaecd\" tg-width=\"635\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> The stock price is down about -30% since I warned investors and down about -38% off its high price of the year.</p><p><blockquote>自从我向投资者发出警告以来，该股股价已下跌约-30%，较今年的高点下跌约-38%。</blockquote></p><p> The truth is that I could have issued the same warning about many other technology stocks that had become overvalued, but PayPal was one that I actually wanted to buy if the price ever fell to a reasonable level. It was a case where there was absolutely nothing wrong with the company. There was no bad story to tell. The price had simply gotten insanely overvalued. It didn't matter how good the story around PayPal was back in February. Numbers almost always trump narrative over the long-term. And the numbers back then didn't make sense.</p><p><blockquote>事实是，我本可以对许多其他被高估的科技股发出同样的警告，但如果价格跌至合理水平，我实际上想买入PayPal。这是一个公司绝对没有问题的案例。没有什么不好的故事可讲。这个价格被高估了。二月份围绕PayPal的故事有多好并不重要。从长远来看，数字几乎总是胜过叙事。当时的数字没有意义。</blockquote></p><p> This should be an important lesson for medium and long-term investors. If the numbers don't work, it doesn't matter what the story is.</p><p><blockquote>这应该是中长线投资者的重要一课。如果数字不起作用，故事是什么并不重要。</blockquote></p><p> The difficultly for a stock writer like myself is that investors<i>love</i>narratives and stories. It's not our fault. Our human brains are hardwired that way. Since I shared my bearish February PayPal video, out of 62 articles on Seeking Alpha covering PayPal, there hasn't been a single \"Bearish\" article written. The primary reason for that is because PayPal's narrative was so appealing that valuation numbers were either ignored, or the assumptions around the numbers were not realistic.</p><p><blockquote>对于像我这样的股票作家来说，困难的是投资者<i>爱</i>叙事和故事。这不是我们的错。我们人类的大脑天生就是这样。自从我分享了我看跌的2月份PayPal视频以来，Seeking Alpha上报道PayPal的62篇文章中，没有一篇“看跌”文章。主要原因是PayPal的叙述如此吸引人，以至于估值数字要么被忽视，要么围绕这些数字的假设不现实。</blockquote></p><p> In this article, I'm going to share my current PayPal valuation based on earnings and earnings growth projections. I'll also share what I consider to be a fair value range for PayPal stock, and the price I would be looking to buy with a margin of safety. This is the same basic process I used to determine that PayPal stock was overvalued back in February of 2021.</p><p><blockquote>在本文中，我将分享我目前基于盈利和盈利增长预测的PayPal估值。我还将分享我认为PayPal股票的公允价值范围，以及我希望在安全边际的情况下购买的价格。这与我在2021年2月用来确定PayPal股票被高估的基本过程相同。</blockquote></p><p> <b>Full-Cycle Earnings Analysis</b></p><p><blockquote><b>全周期盈利分析</b></blockquote></p><p> As part of the analysis, I calculate what I consider to be the two main drivers of future total returns: Market sentiment returns and business returns. I then combine those expected returns together in the form of a 10-year CAGR expectation and use that to value the stock.</p><p><blockquote>作为分析的一部分，我计算了我认为未来总回报的两个主要驱动因素：市场情绪回报和商业回报。然后，我将这些预期回报以10年复合年增长率预期的形式组合在一起，并用它来评估股票。</blockquote></p><p> Before I begin this analysis, I always check the business's long-term earnings patterns in order to ensure that the business is a proper fit for this sort of analysis. If the historical earnings 1) don't have a long enough history 2) are erratic in nature, or 3) are too cyclical, then I either avoid analyzing the stock altogether or I use a different type of analysis that is more appropriate.</p><p><blockquote>在我开始这种分析之前，我总是检查企业的长期盈利模式，以确保企业适合这种分析。如果历史收益1）没有足够长的历史2）本质上不稳定，或者3）周期性太强，那么我要么完全避免分析股票，要么使用更合适的不同类型的分析。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/70078307e65a5a1d0e37f9e70b726b77\" tg-width=\"640\" tg-height=\"490\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> We can see that since 2015 PayPal's earnings per share have increased every single year. This is a clear secular growth pattern and it makes the stock very attractive as a long-term investment. Since 2015 there haven't been any negative earnings growth years so the stock is likely a good fit for the type of earnings analysis I'm going to perform. One important question to ask, though, is that while we did have a brief recession in 2020, it was a very unusual one. It's possible that PayPal's business could be more economically sensitive during a longer, more drawn-out recession. So, that is a risk. However, when I examined how eBay (EBAY) performed in the 2008/9 recession, its earnings growth was basically flat, and never went negative. If I had to make a guess, I think PayPal's earnings growth rate would probably decline during a \"normal\" recession, but still wouldn't be especially cyclical. For those reasons, I'm going to go ahead with my Full-Cycle Earnings Analysis even though we don't have hard historical data from \"normal\" recession for PayPal.</p><p><blockquote>我们可以看到，自2015年以来，PayPal的每股收益每年都在增长。这是一个明显的长期增长模式，它使该股票作为长期投资非常有吸引力。自2015年以来，没有出现过任何盈利负增长的年份，因此该股票可能非常适合我将要进行的盈利分析类型。不过，要问的一个重要问题是，虽然我们在2020年确实经历了短暂的衰退，但这是一次非常不寻常的衰退。在更长、更持久的经济衰退期间，PayPal的业务可能会对经济更加敏感。所以，这是一个风险。然而，当我考察eBay(EBAY)在2008/9年经济衰退中的表现时，其盈利增长基本持平，从未出现过负增长。如果让我猜的话，我认为PayPal的盈利增长率可能会在“正常”衰退期间下降，但仍然不会特别具有周期性。出于这些原因，尽管我们没有PayPal“正常”衰退的硬历史数据，但我仍将继续进行全周期盈利分析。</blockquote></p><p> <b>Market Sentiment Return Expectations</b></p><p><blockquote><b>市场情绪回归预期</b></blockquote></p><p></p><p> In order to estimate what sort of returns we might expect over the next 10 years, let's begin by examining what return we could expect 10 years from now if the P/E multiple were to revert to its mean from the previous economic cycle. Since we have had a recent recession (albeit an unusual one) I'm starting this cycle in fiscal year 2015 and running it through 2021's estimates.</p><p><blockquote>为了估计未来10年我们可能预期的回报，让我们首先研究一下，如果市盈率倍数恢复到上一个经济周期的平均值，我们从现在起10年后可以预期的回报。由于我们最近经历了一次衰退（尽管是一次不寻常的衰退），我将在2015财年开始这个周期，并通过2021年的估计运行它。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e36d2c3455962a02d96b8c88c32eadce\" tg-width=\"640\" tg-height=\"490\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> PayPal's average P/E from 2015 to the present has been a healthy 34.11 (the blue bar circled in gold on the FAST Graph). Using 2021's forward earnings estimates of $4.60 (also circled in gold), PayPal has a current P/E of 40.73. If that 40.73 P/E were to revert to the average P/E of 34.11 over the course of the next 10 years and everything else was held the same, PayPal's price would fall and it would produce a 10-Year CAGR of<b>-1.75%</b>. That's the annual return we can expect from sentiment mean reversion if it takes ten years to revert. If it takes less time to revert, the price could fall faster.</p><p><blockquote>PayPal从2015年至今的平均市盈率为34.11（快速图上用金色圈出的蓝色条）。使用2021年4.60美元的预期盈利预测（也用金色圈出），PayPal目前的市盈率为40.73。如果40.73市盈率在未来10年恢复到34.11的平均市盈率，而其他条件保持不变，PayPal的股价将会下跌，10年复合年增长率将为<b>-1.75%</b>如果情绪均值回归需要十年时间，这就是我们可以从情绪均值回归中预期的年回报率。如果恢复所需的时间更短，价格可能会下跌得更快。</blockquote></p><p> <b>Business Earnings Expectations</b></p><p><blockquote><b>业务盈利预期</b></blockquote></p><p> We previously examined what would happen if market sentiment reverted to the mean. This is entirely determined by the mood of the market and is quite often disconnected, or only loosely connected, to the performance of the actual business. In this section, we will examine the actual earnings of the business. The goal here is simple: We want to know how much money we would earn (expressed in the form of a CAGR %) over the course of 10 years if we bought the business at today's prices and kept all of the earnings for ourselves.</p><p><blockquote>我们之前研究了如果市场情绪恢复到均值会发生什么。这完全由市场情绪决定，并且通常与实际业务的表现脱节，或者只是松散地联系在一起。在本节中，我们将检查企业的实际收益。这里的目标很简单：我们想知道如果我们以今天的价格收购企业并将所有收益留给自己，我们在10年内会赚多少钱（以CAGR%的形式表示）。</blockquote></p><p> There are two main components of this: the first is the earnings yield and the second is the rate at which the earnings can be expected to grow. Let's start with the earnings yield (which is an inverted P/E ratio, so, the Earnings/Price ratio). The current earnings yield is about +2.46%. The way I like to think about this is, if I bought the company's whole business right now for $100, I would earn $2.46 per year on my investment if earnings remained the same for the next 10 years.</p><p><blockquote>这有两个主要组成部分：第一个是收益收益率，第二个是收益的预期增长率。让我们从收益率（这是一个倒置的市盈率，因此，市盈率）开始。目前的收益率约为+2.46%。我喜欢思考这个问题的方式是，如果我现在以100美元购买公司的整个业务，如果未来10年收益保持不变，我每年的投资将获得2.46美元。</blockquote></p><p> The next step is to estimate the company's earnings growth during this time period. I do that by figuring out at what rate earnings grew during the last cycle and applying that rate to the next 10 years. This involves calculating the EPS growth rate since 2015, taking into account each year's EPS growth or decline, and then backing out any share buybacks that occurred over that time period (because reducing shares will increase the EPS due to fewer shares).</p><p><blockquote>下一步是估计公司在这段时间内的盈利增长。我通过计算上一个周期的收益增长率并将该增长率应用于未来10年来做到这一点。这涉及计算自2015年以来的每股收益增长率，考虑每年的每股收益增长或下降，然后退出该时期发生的任何股票回购（因为减持股票会因股票减少而增加每股收益）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f31b7d8ed5f59c82c2531cc686324d1a\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Due to the scale of the graph, the buybacks look much bigger than they actually are, and there isn't much to adjust here. Additionally, since PayPal has grown earnings every year there are no earnings growth declines to adjust for either. This makes estimating PayPal's earnings growth a relatively straightforward affair, and I estimate PayPal's earnings growth at about +23.65%.</p><p><blockquote>由于图表的规模，回购看起来比实际要大得多，这里没有太多调整。此外，由于PayPal的盈利每年都在增长，因此无需调整盈利增长下降。这使得估计PayPal的盈利增长变得相对简单，我估计PayPal的盈利增长约为+23.65%。</blockquote></p><p> Now, this is the point where my conservatism when it comes to asking myself \"What is a reasonable expectation, for valuation purposes, going forward 10 years?\" It is very, very difficult for businesses to grow earnings over 20% per year for a full decade (particularly if they have already been doing that the previous decade). For that reason, I cap all of my long-term forward earnings growth estimates when using them for valuation purposes at 20%. This is simply a way to help keep me from overpaying for a stock when their P/E multiple is likely to contract over time. So, for this valuation exercise, I am limiting my earnings growth assumption to 20%.</p><p><blockquote>现在，当我问自己“出于估值目的，未来10年的合理预期是什么？”对于企业来说，在整整十年的时间里，收入每年增长超过20%是非常非常困难的（特别是如果他们在过去十年里已经这样做了）。因此，在用于估值目的时，我将所有长期预期盈利增长预测限制在20%。当股票的市盈率可能会随着时间的推移而收缩时，这只是一种帮助我避免为股票支付过高价格的方法。因此，对于这次估值工作，我将盈利增长假设限制在20%。</blockquote></p><p> Next, I'll apply that growth rate to current earnings, looking forward 10 years in order to get a final 10-year CAGR estimate. The way I think about this is, if I bought PayPal's whole business for $100, it would pay me back $2.46 plus +20.00% growth the first year, and that amount would grow at +20.00% per year for 10 years after that. I want to know how much money I would have in total at the end of 10 years on my $100 investment, which I calculate to be about $176.50 (including the original $100). When I plug that growth into a CAGR calculator, that translates to a<b>+5.85%</b>10-year CAGR estimate for the expected business earnings returns.</p><p><blockquote>接下来，我将将该增长率应用于当前收益，展望10年，以获得最终的10年复合年增长率估计。我的想法是，如果我以100美元收购PayPal的整个业务，它将在第一年偿还我2.46美元，外加+20.00%的增长，并且在那之后的10年里，这个数额将以每年+20.00%的速度增长。我想知道我的100美元投资在10年后总共会有多少钱，我计算出大约是176.50美元（包括最初的100美元）。当我将这种增长插入CAGR计算器时，就会转化为<b>+5.85%</b>预期业务盈利回报的10年复合年增长率估计。</blockquote></p><p> <b>10-Year, Full-Cycle CAGR Estimate</b></p><p><blockquote><b>10年全周期复合年增长率估计</b></blockquote></p><p></p><p> Potential future returns can come from two main places: market sentiment returns or business earnings returns. If we assume that market sentiment reverts to the mean from the last cycle over the next 10 years for PayPal, it will produce a -1.75% CAGR. If the earnings yield and growth are similar to the last cycle, the company should produce somewhere around a +5.85% 10-year CAGR. If we put the two together, we get an expected 10-year, full-cycle CAGR of<b>+4.10%</b>at today's price.</p><p><blockquote>潜在的未来回报可以来自两个主要地方：市场情绪回报或业务收益回报。如果我们假设PayPal未来10年的市场情绪恢复到上一个周期的平均值，则复合年增长率将为-1.75%。如果盈利收益率和增长与上一个周期相似，该公司的10年复合年增长率应该在+5.85%左右。如果我们将两者放在一起，我们会得到预期的10年全周期复合年增长率为<b>+4.10%</b>以今天的价格。</blockquote></p><p> My Buy/Sell/Hold range for this category of stocks is: above a 12% CAGR is a Buy, below a 4% expected CAGR is a Sell, and in between 4% and 12% is a Hold. This puts PayPal stock just barely into the \"Hold\" category at today's price level.</p><p><blockquote>我对此类股票的买入/卖出/持有范围是：复合年增长率高于12%为买入，预期复合年增长率低于4%为卖出，4%至12%之间为持有。这使得PayPal股票在今天的价格水平上勉强属于“持有”类别。</blockquote></p><p> <b>Additional Considerations</b></p><p><blockquote><b>其他注意事项</b></blockquote></p><p> I consider PayPal one of the highest quality growth stocks in the market right now, which is why I've been monitoring its valuation relatively closely. In this section I'm going to share my fair value range for PayPal along with the price I would be willing to buy the stock with a margin of safety based on earnings, and also the price I would consider buying using a more aggressive and less conservative valuation approach. So, I'm going to look at PayPal's valuation from a variety of different perspectives to give us a clearer view of what might be an appropriate price to pay for the stock.</p><p><blockquote>我认为PayPal是目前市场上质量最高的成长型股票之一，这就是为什么我一直相对密切地关注其估值。在本节中，我将分享我对PayPal的公允价值范围，以及我愿意在基于收益的安全边际下购买该股票的价格，以及我考虑使用更激进和不太保守的估值方法购买的价格。因此，我将从各种不同的角度来看PayPal的估值，让我们更清楚地了解购买该股票的合适价格。</blockquote></p><p> First, I'll start with my buy price and fair value range using the same assumptions and inputs I used in this article. If we use all of those same inputs my current fair value range for PayPal is about $126.50 to $164.00 per share. My current buy price that includes a margin of safety is $112.10. Investors who buy below that price have very good odds of great returns over the medium-term with the stock.</p><p><blockquote>首先，我将使用本文中使用的相同假设和输入从我的购买价格和公允价值范围开始。如果我们使用所有这些相同的输入，我目前对PayPal的公允价值范围约为每股126.50美元至164.00美元。我目前的买入价格（包括安全边际）是112.10美元。低于该价格买入的投资者在中期内很有可能获得丰厚的回报。</blockquote></p><p> Once we get into the new year and 2022, I'll start pulling forward PayPal's 2022 earnings for my estimates. Right now, analysts expect $5.25 per share from earnings in 2022. That will improve PayPal's valuation a lot if the rest of their metrics remain the same, and it would raise their fair value range up to $145.00 to $187.50 dollars per share with a margin of safety buy price at $128.00 per share. This, of course, assumes analysts keep their estimates for 2022 in place and don't lower them over the next couple of months. It also means, based on future earnings, that in a month or two if PayPal keeps trading near its current price, it is already in the top end of a \"fair value\" price range. This might be a further reason for current owners to keep holding.</p><p><blockquote>一旦我们进入新的一年和2022年，我将开始提前预测PayPal 2022年的盈利。目前，分析师预计2022年每股收益为5.25美元。如果PayPal的其他指标保持不变，这将大大提高其估值，并将其公允价值范围提高至每股145.00美元至187.50美元，安全买入价格为每股128.00美元。当然，这是假设分析师维持对2022年的预期不变，并且在未来几个月内不会降低预期。这也意味着，根据未来的收益，如果PayPal在一两个月内保持接近当前价格的交易，它已经处于“公允价值”价格范围的上限。这可能是当前所有者继续持有的另一个原因。</blockquote></p><p> The Full-Cycle Earnings analysis I used in this article is not the only type of analysis I use. For certain rare businesses with fast profit growth dynamics, I recently developed a new analysis to help identify fast-growing businesses that might never become cheap enough to buy based on earnings alone. The methods of this analysis are exclusive to my private service, The Cyclical Investor's Club, but since PayPal's profit growth is very strong, it actually qualifies for this type of analysis, too, and I thought I would at least share the sort of \"buy price\" that analysis produces because it's a little more aggressive than the earnings-based analysis.</p><p><blockquote>我在本文中使用的全周期收益分析并不是我使用的唯一分析类型。对于某些利润快速增长的罕见企业，我最近开发了一种新的分析方法，以帮助识别仅根据收益可能永远不会变得足够便宜的快速增长企业。这种分析的方法是我的私人服务机构周期性投资者俱乐部独有的，但由于PayPal的利润增长非常强劲，它实际上也有资格进行这种类型的分析，我想我至少会分享这种分析产生的“购买价格”，因为它比基于收益的分析更激进一些。</blockquote></p><p> When I examine PayPal using the profit growth analysis, it produces a buy price of $144.90. I find that interesting because if profits keep growing this quarter that price is likely to rise a little bit and put it pretty close to the middle of fair value using next year's earnings using my earnings-based method. This assumes that PayPal's metrics don't deteriorate between now and then, and there would be some technical requirements PayPal would have to meet as well, but I think the odds are good that by February of 2022 I could be a buyer of PayPal stock, approximately one year after I warned investors about its high valuation. It's going to be very interesting to see how it turns out.</p><p><blockquote>当我使用利润增长分析来检查PayPal时，它得出的买入价格为144.90美元。我觉得这很有趣，因为如果本季度利润继续增长，价格可能会上涨一点，并使用我的基于收益的方法，使用明年的收益，使其非常接近公允价值的中间值。这是假设PayPal的指标从现在到那时不会恶化，而且PayPal也必须满足一些技术要求，但我认为到2022年2月，我很有可能成为PayPal股票的买家，大约在我警告投资者其高估值一年后。看看结果会很有趣。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> I think PayPal's 2021 decline is an interesting and useful case study that goes beyond PayPal itself. The sort of decline we've seen in PayPal's stock price this year was entirely predictable and there are many other richly valued technology stocks that will experience a similar decline, likely in 2022 for most of them. For investors who are overweight these types of stocks, now is probably a time to consider diversifying in order to help keep the gains they have experienced the past couple of years. While there will be some overvalued stocks that simply stagnate for several years and go nowhere, and a rare few that manage to keep rising, the vast majority will experience declines like PayPal has experienced.</p><p><blockquote>我认为PayPal 2021年的衰落是一个有趣且有用的案例研究，超越了PayPal本身。我们今年看到的PayPal股价下跌是完全可以预见的，还有许多其他估值丰厚的科技股也将经历类似的下跌，其中大多数可能在2022年。对于跑赢大盘此类股票的投资者来说，现在可能是考虑多元化的时候了，以帮助保持过去几年的收益。虽然会有一些被高估的股票停滞不前几年，毫无进展，也有极少数股票设法继续上涨，但绝大多数股票将经历像PayPal那样的下跌。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4474960-paypal-share-price-decline-overvalued-technology-stocks\">Seeking Alpha</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":{"PYPL":"PayPal"},"source_url":"https://seekingalpha.com/article/4474960-paypal-share-price-decline-overvalued-technology-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120286910","content_text":"Summary\n\nPayPal stock is down over -35% off this year's highs, and the stock still isn't cheap.\nI warned investors back in February of 2021 that PayPal was extremely overvalued and worth selling.\nThat warning could have been issued for dozens and dozens of overvalued technology stocks that still have over -50% downside from here within the next 3 years.\nPayPal remains a great company that I would like to own, so I analyze the stock in order to establish I price at which I'd be willing to buy it.\n\nBsWei/iStock via Getty Images\nIntroduction\nBack on February 6th, 2021, I made a video where I shared with investors why PayPal (PYPL) stock was overvalued enough to sell. I shared that video on my Seeking Alpha bloghere. Since that time, PayPal has performed poorly both on an absolute basis and relative to the S&P 500 (SPY).\nData by YCharts\nThe stock price is down about -30% since I warned investors and down about -38% off its high price of the year.\nThe truth is that I could have issued the same warning about many other technology stocks that had become overvalued, but PayPal was one that I actually wanted to buy if the price ever fell to a reasonable level. It was a case where there was absolutely nothing wrong with the company. There was no bad story to tell. The price had simply gotten insanely overvalued. It didn't matter how good the story around PayPal was back in February. Numbers almost always trump narrative over the long-term. And the numbers back then didn't make sense.\nThis should be an important lesson for medium and long-term investors. If the numbers don't work, it doesn't matter what the story is.\nThe difficultly for a stock writer like myself is that investorslovenarratives and stories. It's not our fault. Our human brains are hardwired that way. Since I shared my bearish February PayPal video, out of 62 articles on Seeking Alpha covering PayPal, there hasn't been a single \"Bearish\" article written. The primary reason for that is because PayPal's narrative was so appealing that valuation numbers were either ignored, or the assumptions around the numbers were not realistic.\nIn this article, I'm going to share my current PayPal valuation based on earnings and earnings growth projections. I'll also share what I consider to be a fair value range for PayPal stock, and the price I would be looking to buy with a margin of safety. This is the same basic process I used to determine that PayPal stock was overvalued back in February of 2021.\nFull-Cycle Earnings Analysis\nAs part of the analysis, I calculate what I consider to be the two main drivers of future total returns: Market sentiment returns and business returns. I then combine those expected returns together in the form of a 10-year CAGR expectation and use that to value the stock.\nBefore I begin this analysis, I always check the business's long-term earnings patterns in order to ensure that the business is a proper fit for this sort of analysis. If the historical earnings 1) don't have a long enough history 2) are erratic in nature, or 3) are too cyclical, then I either avoid analyzing the stock altogether or I use a different type of analysis that is more appropriate.\n\nWe can see that since 2015 PayPal's earnings per share have increased every single year. This is a clear secular growth pattern and it makes the stock very attractive as a long-term investment. Since 2015 there haven't been any negative earnings growth years so the stock is likely a good fit for the type of earnings analysis I'm going to perform. One important question to ask, though, is that while we did have a brief recession in 2020, it was a very unusual one. It's possible that PayPal's business could be more economically sensitive during a longer, more drawn-out recession. So, that is a risk. However, when I examined how eBay (EBAY) performed in the 2008/9 recession, its earnings growth was basically flat, and never went negative. If I had to make a guess, I think PayPal's earnings growth rate would probably decline during a \"normal\" recession, but still wouldn't be especially cyclical. For those reasons, I'm going to go ahead with my Full-Cycle Earnings Analysis even though we don't have hard historical data from \"normal\" recession for PayPal.\nMarket Sentiment Return Expectations\nIn order to estimate what sort of returns we might expect over the next 10 years, let's begin by examining what return we could expect 10 years from now if the P/E multiple were to revert to its mean from the previous economic cycle. Since we have had a recent recession (albeit an unusual one) I'm starting this cycle in fiscal year 2015 and running it through 2021's estimates.\n\nPayPal's average P/E from 2015 to the present has been a healthy 34.11 (the blue bar circled in gold on the FAST Graph). Using 2021's forward earnings estimates of $4.60 (also circled in gold), PayPal has a current P/E of 40.73. If that 40.73 P/E were to revert to the average P/E of 34.11 over the course of the next 10 years and everything else was held the same, PayPal's price would fall and it would produce a 10-Year CAGR of-1.75%. That's the annual return we can expect from sentiment mean reversion if it takes ten years to revert. If it takes less time to revert, the price could fall faster.\nBusiness Earnings Expectations\nWe previously examined what would happen if market sentiment reverted to the mean. This is entirely determined by the mood of the market and is quite often disconnected, or only loosely connected, to the performance of the actual business. In this section, we will examine the actual earnings of the business. The goal here is simple: We want to know how much money we would earn (expressed in the form of a CAGR %) over the course of 10 years if we bought the business at today's prices and kept all of the earnings for ourselves.\nThere are two main components of this: the first is the earnings yield and the second is the rate at which the earnings can be expected to grow. Let's start with the earnings yield (which is an inverted P/E ratio, so, the Earnings/Price ratio). The current earnings yield is about +2.46%. The way I like to think about this is, if I bought the company's whole business right now for $100, I would earn $2.46 per year on my investment if earnings remained the same for the next 10 years.\nThe next step is to estimate the company's earnings growth during this time period. I do that by figuring out at what rate earnings grew during the last cycle and applying that rate to the next 10 years. This involves calculating the EPS growth rate since 2015, taking into account each year's EPS growth or decline, and then backing out any share buybacks that occurred over that time period (because reducing shares will increase the EPS due to fewer shares).\nData by YCharts\nDue to the scale of the graph, the buybacks look much bigger than they actually are, and there isn't much to adjust here. Additionally, since PayPal has grown earnings every year there are no earnings growth declines to adjust for either. This makes estimating PayPal's earnings growth a relatively straightforward affair, and I estimate PayPal's earnings growth at about +23.65%.\nNow, this is the point where my conservatism when it comes to asking myself \"What is a reasonable expectation, for valuation purposes, going forward 10 years?\" It is very, very difficult for businesses to grow earnings over 20% per year for a full decade (particularly if they have already been doing that the previous decade). For that reason, I cap all of my long-term forward earnings growth estimates when using them for valuation purposes at 20%. This is simply a way to help keep me from overpaying for a stock when their P/E multiple is likely to contract over time. So, for this valuation exercise, I am limiting my earnings growth assumption to 20%.\nNext, I'll apply that growth rate to current earnings, looking forward 10 years in order to get a final 10-year CAGR estimate. The way I think about this is, if I bought PayPal's whole business for $100, it would pay me back $2.46 plus +20.00% growth the first year, and that amount would grow at +20.00% per year for 10 years after that. I want to know how much money I would have in total at the end of 10 years on my $100 investment, which I calculate to be about $176.50 (including the original $100). When I plug that growth into a CAGR calculator, that translates to a+5.85%10-year CAGR estimate for the expected business earnings returns.\n10-Year, Full-Cycle CAGR Estimate\nPotential future returns can come from two main places: market sentiment returns or business earnings returns. If we assume that market sentiment reverts to the mean from the last cycle over the next 10 years for PayPal, it will produce a -1.75% CAGR. If the earnings yield and growth are similar to the last cycle, the company should produce somewhere around a +5.85% 10-year CAGR. If we put the two together, we get an expected 10-year, full-cycle CAGR of+4.10%at today's price.\nMy Buy/Sell/Hold range for this category of stocks is: above a 12% CAGR is a Buy, below a 4% expected CAGR is a Sell, and in between 4% and 12% is a Hold. This puts PayPal stock just barely into the \"Hold\" category at today's price level.\nAdditional Considerations\nI consider PayPal one of the highest quality growth stocks in the market right now, which is why I've been monitoring its valuation relatively closely. In this section I'm going to share my fair value range for PayPal along with the price I would be willing to buy the stock with a margin of safety based on earnings, and also the price I would consider buying using a more aggressive and less conservative valuation approach. So, I'm going to look at PayPal's valuation from a variety of different perspectives to give us a clearer view of what might be an appropriate price to pay for the stock.\nFirst, I'll start with my buy price and fair value range using the same assumptions and inputs I used in this article. If we use all of those same inputs my current fair value range for PayPal is about $126.50 to $164.00 per share. My current buy price that includes a margin of safety is $112.10. Investors who buy below that price have very good odds of great returns over the medium-term with the stock.\nOnce we get into the new year and 2022, I'll start pulling forward PayPal's 2022 earnings for my estimates. Right now, analysts expect $5.25 per share from earnings in 2022. That will improve PayPal's valuation a lot if the rest of their metrics remain the same, and it would raise their fair value range up to $145.00 to $187.50 dollars per share with a margin of safety buy price at $128.00 per share. This, of course, assumes analysts keep their estimates for 2022 in place and don't lower them over the next couple of months. It also means, based on future earnings, that in a month or two if PayPal keeps trading near its current price, it is already in the top end of a \"fair value\" price range. This might be a further reason for current owners to keep holding.\nThe Full-Cycle Earnings analysis I used in this article is not the only type of analysis I use. For certain rare businesses with fast profit growth dynamics, I recently developed a new analysis to help identify fast-growing businesses that might never become cheap enough to buy based on earnings alone. The methods of this analysis are exclusive to my private service, The Cyclical Investor's Club, but since PayPal's profit growth is very strong, it actually qualifies for this type of analysis, too, and I thought I would at least share the sort of \"buy price\" that analysis produces because it's a little more aggressive than the earnings-based analysis.\nWhen I examine PayPal using the profit growth analysis, it produces a buy price of $144.90. I find that interesting because if profits keep growing this quarter that price is likely to rise a little bit and put it pretty close to the middle of fair value using next year's earnings using my earnings-based method. This assumes that PayPal's metrics don't deteriorate between now and then, and there would be some technical requirements PayPal would have to meet as well, but I think the odds are good that by February of 2022 I could be a buyer of PayPal stock, approximately one year after I warned investors about its high valuation. It's going to be very interesting to see how it turns out.\nConclusion\nI think PayPal's 2021 decline is an interesting and useful case study that goes beyond PayPal itself. The sort of decline we've seen in PayPal's stock price this year was entirely predictable and there are many other richly valued technology stocks that will experience a similar decline, likely in 2022 for most of them. For investors who are overweight these types of stocks, now is probably a time to consider diversifying in order to help keep the gains they have experienced the past couple of years. While there will be some overvalued stocks that simply stagnate for several years and go nowhere, and a rare few that manage to keep rising, the vast majority will experience declines like PayPal has experienced.","news_type":1,"symbols_score_info":{"PYPL":0.9}},"isVote":1,"tweetType":1,"viewCount":857,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605835879,"gmtCreate":1639143101090,"gmtModify":1639143179272,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/605835879","repostId":"1115031273","repostType":4,"repost":{"id":"1115031273","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639143317,"share":"https://www.laohu8.com/m/news/1115031273?lang=zh_CN&edition=full","pubTime":"2021-12-10 21:35","market":"us","language":"en","title":"Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115031273","media":"Tiger Newspress","summary":"Stock-market index trade higher after inflation report.\nAt 8:34 a.m. ET, Dow e-minis were up 176 poi","content":"<p>Stock-market index trade higher after inflation report.</p><p><blockquote>通胀报告发布后，股市指数走高。</blockquote></p><p> At 8:34 a.m. ET, Dow e-minis were up 176 points, or 0.49%, S&amp;P 500 e-minis were up 30.75 points, or 0.66%, and Nasdaq 100 e-minis were up 115.25 points, or 0.71%.</p><p><blockquote>截至美国东部时间上午8:34，道指e-minis上涨176点，涨幅0.49%，标普500 e-minis上涨30.75点，涨幅0.66%，纳斯达克100 e-minis上涨115.25点，涨幅0.71%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/022d770c8d408fcc5c7a5267e1fa96a1\" tg-width=\"412\" tg-height=\"184\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.</p><p><blockquote>美国劳工部周五表示，11月份通胀以1982年以来最快的速度加速，给经济复苏带来压力，并加大了美联储的风险。</blockquote></p><p> The consumer price index, which measures the cost of a wide-ranging basket of goods, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.</p><p><blockquote>衡量一篮子商品成本的消费者价格指数本月上涨0.8%，同比上涨6.8%，为1982年6月以来的最快涨幅。</blockquote></p><p> Excluding food and energy prices, so-called core CPI was up 0.5% for the month and 4.9% from a year ago, which itself was the sharpest pickup since mid-1991.</p><p><blockquote>不包括食品和能源价格，所谓的核心CPI本月上涨0.5%，同比上涨4.9%，这本身就是自1991年中期以来的最大涨幅。</blockquote></p><p> The Dow Jones estimate was for a 6.7% annual gain for headline CPI and 4.9% for core.</p><p><blockquote>道琼斯预计总体CPI年增长率为6.7%，核心CPI年增长率为4.9%。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Tesla(TSLA)</b>&nbsp;–&nbsp;Tesla Inc&nbsp;Chief Executive Officer Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $963.2 million, U.S. securities filings showed on Thursday.He also exercised stock options to buy 2.17 million shares of Tesla, according to the filings.Musk is \"thinking of\" leaving his jobs and becoming an influencer, the world's richest man tweeted on Thursday.It was not immediately clear if Musk, a prolific user of the social media platform, was being serious about quitting his roles.Tesla shares dropped more&nbsp;than&nbsp;1% in premarket trading.</p><p><blockquote><b>特斯拉(TSLA)</b>–周四美国证券备案文件显示，特斯拉首席执行官Elon Musk又出售了这家电动汽车制造商的934,091股股票，价值9.632亿美元。文件显示，他还行使股票期权购买了217万股特斯拉股票。这位世界首富周四在推特上表示，马斯克正在“考虑”离职并成为一名有影响力的人。目前尚不清楚该社交媒体平台的多产用户马斯克是否真的想辞去职务。特斯拉股价在盘前交易中下跌超过1%。</blockquote></p><p> <b>Oracle(ORCL) </b>– Oracle shares surged 12% in the premarket, after quarterly sales and revenue beat estimates and the business software company announced a $10 billion increase in its share repurchase program.&nbsp;Oracle earned an adjusted $1.21 per share, 10 cents above estimates, with particular strength for its cloud infrastructure business.</p><p><blockquote><b>甲骨文(ORCL)</b>-甲骨文股价盘前飙升12%，此前该商业软件公司季度销售额和营收均超出预期，且该商业软件公司宣布将其股票回购计划增加100亿美元。甲骨文调整后每股收益为1.21美元，比预期高出10美分，其云基础设施业务尤其强劲。</blockquote></p><p> <b>Broadcom(AVGO)</b> – The chip maker’s shares rallied nearly 7% in premarket trading after it beat Street forecasts on the top and bottom lines for its latest quarter.&nbsp;Broadcom earned an adjusted $7.81 per share, 7 cents above estimates, and also issued an upbeat forecast on continued high demand from its cloud computing customers.</p><p><blockquote><b>博通(AVGO)</b>-这家芯片制造商的股价在盘前交易中上涨了近7%，此前该公司最近一个季度的营收和利润超出了华尔街的预期。博通调整后每股收益为7.81美元，比预期高出7美分，并对其云计算客户的持续高需求做出了乐观预测。</blockquote></p><p> <b>Chewy(CHWY) </b>– The online pet products retailer’s stock tumbled 10% in the premarket after it reported a wider-than-expected quarterly loss.&nbsp;Sales were in line with Street forecasts, but profit was impacted by higher costs for labor and supply chain issues.</p><p><blockquote><b>耐嚼（CHWY）</b>-这家在线宠物用品零售商公布季度亏损超出预期后，其股价盘前暴跌10%。销售额符合华尔街预测，但利润受到劳动力成本上升和供应链问题的影响。</blockquote></p><p> <b>Moderna(MRNA)</b>&nbsp;–&nbsp;Moderna&nbsp;shares&nbsp;plunged&nbsp;10%&nbsp;in premarket trading.Other vaccine stocks also fell.BioNTech&nbsp;fell&nbsp;more&nbsp;than&nbsp;5%,Novavax&nbsp;fell&nbsp;more&nbsp;than&nbsp;3%.</p><p><blockquote><b>现代（MRNA）</b>-Moderna股价在盘前交易中暴跌10%。其他疫苗股亦走低，BioNTech跌超5%，Novavax跌超3%。</blockquote></p><p> <b>Lululemon(LULU)</b> – The athletic apparel maker reported adjusted quarterly profit of $1.62 per share, 21 cents above estimates, with revenue slightly above forecasts as well.&nbsp;However, Lululemon also warned that new Covid-19 variants could impact demand for “athleisure” clothing if virus concerns lead to temporary store closures and further supply chain issues.&nbsp;The stock slid 1.3% in premarket action.</p><p><blockquote><b>露露柠檬（露露）</b>-这家运动服装制造商报告调整后季度利润为每股1.62美元，比预期高出21美分，收入也略高于预期。然而，Lululemon也警告说，如果病毒担忧导致商店暂时关闭和进一步的供应链问题，新的Covid-19变种可能会影响对“运动休闲”服装的需求。该股在盘前下跌1.3%。</blockquote></p><p> <b>C3Ai(AI)</b> – The artificial intelligence software company’s stock soared 20% in the premarket after it won a $500 million contract from the U.S. Department of Defense for its suite of AI products.</p><p><blockquote><b>C3Ai（AI）</b>-这家人工智能软件公司赢得美国5亿美元合同后，股价盘前飙升20%。国防部的人工智能产品套件。</blockquote></p><p> <b>Costco(COST)</b> – The warehouse retailer earned $2.98 per share for its latest quarter, compared with a consensus estimate of $2.64, with revenue topping Street forecasts as well.&nbsp;The beat came despite higher costs and supply chain issues that Costco said it was able to largely mitigate.&nbsp;Costco rose 1.8% in the premarket.</p><p><blockquote><b>好市多(COST)</b>-这家仓储零售商最近一个季度的每股收益为2.98美元，而市场普遍预期为2.64美元，收入也超过了华尔街的预测。尽管成本上升和供应链问题，Costco表示能够在很大程度上缓解这些问题，但这一增长还是出现了。Costco盘前上涨1.8%。</blockquote></p><p> <b>Beyond Meat(BYND)</b> – Restaurant chain Taco Bell dropped plans to test Beyond Meat’s plant-based version of carne asada,according to a Bloomberg report.&nbsp;Taco Bell is said to have been dissatisfied with samples it received in October, although the companies continue to work together on new products.&nbsp;Beyond Meat slipped 1.6% in premarket trading.</p><p><blockquote><b>Beyond Meat(BYND)</b>-据彭博社报道，连锁餐厅塔可钟放弃了测试Beyond Meat植物版carne asada的计划。据称，塔可钟对10月份收到的样品不满意，尽管两家公司继续合作开发新产品。Beyond Meat在盘前交易中下跌1.6%。</blockquote></p><p> <b>American Outdoor Brands(AOUT)</b> – The outdoor products maker reported adjusted quarterly profit of 58 cents per share, well below the 76 cent consensus estimate, with revenue also falling short of analyst forecasts.&nbsp;The company said sales slowed due to a shift in customer purchase timing into the prior quarter to lessen supply chain concerns.&nbsp;American Outdoor shares plummeted 19% in premarket action.</p><p><blockquote><b>美国户外品牌(AOUT)</b>——这家户外用品制造商报告调整后季度利润为每股58美分，远远低于市场普遍预期的76美分，营收也低于分析师预期。该公司表示，由于客户购买时间与上一季度相比有所转移，从而缓解供应链担忧，美国户外用品公司的销售速度下降了19%，市场前美国户外用品股下跌了19%。</blockquote></p><p> <b>Vail Resorts(MTN)</b> – The resort operator lost $3.44 per share for its latest quarter, smaller than the loss of $3.62 that analysts had anticipated, thanks to a jump in season pass sales.&nbsp;However, revenue was below estimates.</p><p><blockquote><b>韦尔度假村(MTN)</b>-由于季票销售激增，该度假村运营商最近一个季度每股亏损3.44美元，低于分析师预期的3.62美元。然而，收入低于预期。</blockquote></p><p></p><p> <b>Peloton(PTON)</b> – The fitness equipment maker’s shares lost 3.6% in the premarket after Credit Suisse downgraded the stock to “neutral” from “outperform”.&nbsp;The firm noted a number of headwinds for Peloton, including a return to out-of-home fitness and a shift in consumer spending.</p><p><blockquote><b>Peloton(PTON)</b>-瑞士信贷将该股评级从“跑赢大盘”下调至“中性”后，这家健身器材制造商的股价在盘前下跌3.6%。该公司指出Peloton面临许多不利因素，包括回归户外健身和消费者支出的转变。</blockquote></p><p> <b>AMC Entertainment(AMC)</b> – The movie theater operator’s shares slid 1% in premarket trading, after SEC filings showed a sale of 312,500 shares by CEO Adam Aron and a sale of 18,000 shares by CFO Sean Goodman.&nbsp;Aron had indicated in November that he would soon begin selling shares as part of estate planning.</p><p><blockquote><b>AMC院线(AMC)</b>-这家电影院运营商的股价在盘前交易中下跌1%，此前美国证券交易委员会(SEC)提交的文件显示，首席执行官亚当·阿伦(Adam Aron)出售了312,500股，首席财务官肖恩·古德曼(Sean Goodman)出售了18,000股。阿伦曾在11月份表示，作为遗产规划的一部分，他将很快开始出售股票。</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>Toplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</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\">\nToplines Before US Market Open on Friday<blockquote>周五美国市场开盘前的营收</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-10 21:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stock-market index trade higher after inflation report.</p><p><blockquote>通胀报告发布后，股市指数走高。</blockquote></p><p> At 8:34 a.m. ET, Dow e-minis were up 176 points, or 0.49%, S&amp;P 500 e-minis were up 30.75 points, or 0.66%, and Nasdaq 100 e-minis were up 115.25 points, or 0.71%.</p><p><blockquote>截至美国东部时间上午8:34，道指e-minis上涨176点，涨幅0.49%，标普500 e-minis上涨30.75点，涨幅0.66%，纳斯达克100 e-minis上涨115.25点，涨幅0.71%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/022d770c8d408fcc5c7a5267e1fa96a1\" tg-width=\"412\" tg-height=\"184\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Inflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.</p><p><blockquote>美国劳工部周五表示，11月份通胀以1982年以来最快的速度加速，给经济复苏带来压力，并加大了美联储的风险。</blockquote></p><p> The consumer price index, which measures the cost of a wide-ranging basket of goods, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.</p><p><blockquote>衡量一篮子商品成本的消费者价格指数本月上涨0.8%，同比上涨6.8%，为1982年6月以来的最快涨幅。</blockquote></p><p> Excluding food and energy prices, so-called core CPI was up 0.5% for the month and 4.9% from a year ago, which itself was the sharpest pickup since mid-1991.</p><p><blockquote>不包括食品和能源价格，所谓的核心CPI本月上涨0.5%，同比上涨4.9%，这本身就是自1991年中期以来的最大涨幅。</blockquote></p><p> The Dow Jones estimate was for a 6.7% annual gain for headline CPI and 4.9% for core.</p><p><blockquote>道琼斯预计总体CPI年增长率为6.7%，核心CPI年增长率为4.9%。</blockquote></p><p> <b>Stocks making the biggest moves premarket:</b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b>Tesla(TSLA)</b>&nbsp;–&nbsp;Tesla Inc&nbsp;Chief Executive Officer Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $963.2 million, U.S. securities filings showed on Thursday.He also exercised stock options to buy 2.17 million shares of Tesla, according to the filings.Musk is \"thinking of\" leaving his jobs and becoming an influencer, the world's richest man tweeted on Thursday.It was not immediately clear if Musk, a prolific user of the social media platform, was being serious about quitting his roles.Tesla shares dropped more&nbsp;than&nbsp;1% in premarket trading.</p><p><blockquote><b>特斯拉(TSLA)</b>–周四美国证券备案文件显示，特斯拉首席执行官Elon Musk又出售了这家电动汽车制造商的934,091股股票，价值9.632亿美元。文件显示，他还行使股票期权购买了217万股特斯拉股票。这位世界首富周四在推特上表示，马斯克正在“考虑”离职并成为一名有影响力的人。目前尚不清楚该社交媒体平台的多产用户马斯克是否真的想辞去职务。特斯拉股价在盘前交易中下跌超过1%。</blockquote></p><p> <b>Oracle(ORCL) </b>– Oracle shares surged 12% in the premarket, after quarterly sales and revenue beat estimates and the business software company announced a $10 billion increase in its share repurchase program.&nbsp;Oracle earned an adjusted $1.21 per share, 10 cents above estimates, with particular strength for its cloud infrastructure business.</p><p><blockquote><b>甲骨文(ORCL)</b>-甲骨文股价盘前飙升12%，此前该商业软件公司季度销售额和营收均超出预期，且该商业软件公司宣布将其股票回购计划增加100亿美元。甲骨文调整后每股收益为1.21美元，比预期高出10美分，其云基础设施业务尤其强劲。</blockquote></p><p> <b>Broadcom(AVGO)</b> – The chip maker’s shares rallied nearly 7% in premarket trading after it beat Street forecasts on the top and bottom lines for its latest quarter.&nbsp;Broadcom earned an adjusted $7.81 per share, 7 cents above estimates, and also issued an upbeat forecast on continued high demand from its cloud computing customers.</p><p><blockquote><b>博通(AVGO)</b>-这家芯片制造商的股价在盘前交易中上涨了近7%，此前该公司最近一个季度的营收和利润超出了华尔街的预期。博通调整后每股收益为7.81美元，比预期高出7美分，并对其云计算客户的持续高需求做出了乐观预测。</blockquote></p><p> <b>Chewy(CHWY) </b>– The online pet products retailer’s stock tumbled 10% in the premarket after it reported a wider-than-expected quarterly loss.&nbsp;Sales were in line with Street forecasts, but profit was impacted by higher costs for labor and supply chain issues.</p><p><blockquote><b>耐嚼（CHWY）</b>-这家在线宠物用品零售商公布季度亏损超出预期后，其股价盘前暴跌10%。销售额符合华尔街预测，但利润受到劳动力成本上升和供应链问题的影响。</blockquote></p><p> <b>Moderna(MRNA)</b>&nbsp;–&nbsp;Moderna&nbsp;shares&nbsp;plunged&nbsp;10%&nbsp;in premarket trading.Other vaccine stocks also fell.BioNTech&nbsp;fell&nbsp;more&nbsp;than&nbsp;5%,Novavax&nbsp;fell&nbsp;more&nbsp;than&nbsp;3%.</p><p><blockquote><b>现代（MRNA）</b>-Moderna股价在盘前交易中暴跌10%。其他疫苗股亦走低，BioNTech跌超5%，Novavax跌超3%。</blockquote></p><p> <b>Lululemon(LULU)</b> – The athletic apparel maker reported adjusted quarterly profit of $1.62 per share, 21 cents above estimates, with revenue slightly above forecasts as well.&nbsp;However, Lululemon also warned that new Covid-19 variants could impact demand for “athleisure” clothing if virus concerns lead to temporary store closures and further supply chain issues.&nbsp;The stock slid 1.3% in premarket action.</p><p><blockquote><b>露露柠檬（露露）</b>-这家运动服装制造商报告调整后季度利润为每股1.62美元，比预期高出21美分，收入也略高于预期。然而，Lululemon也警告说，如果病毒担忧导致商店暂时关闭和进一步的供应链问题，新的Covid-19变种可能会影响对“运动休闲”服装的需求。该股在盘前下跌1.3%。</blockquote></p><p> <b>C3Ai(AI)</b> – The artificial intelligence software company’s stock soared 20% in the premarket after it won a $500 million contract from the U.S. Department of Defense for its suite of AI products.</p><p><blockquote><b>C3Ai（AI）</b>-这家人工智能软件公司赢得美国5亿美元合同后，股价盘前飙升20%。国防部的人工智能产品套件。</blockquote></p><p> <b>Costco(COST)</b> – The warehouse retailer earned $2.98 per share for its latest quarter, compared with a consensus estimate of $2.64, with revenue topping Street forecasts as well.&nbsp;The beat came despite higher costs and supply chain issues that Costco said it was able to largely mitigate.&nbsp;Costco rose 1.8% in the premarket.</p><p><blockquote><b>好市多(COST)</b>-这家仓储零售商最近一个季度的每股收益为2.98美元，而市场普遍预期为2.64美元，收入也超过了华尔街的预测。尽管成本上升和供应链问题，Costco表示能够在很大程度上缓解这些问题，但这一增长还是出现了。Costco盘前上涨1.8%。</blockquote></p><p> <b>Beyond Meat(BYND)</b> – Restaurant chain Taco Bell dropped plans to test Beyond Meat’s plant-based version of carne asada,according to a Bloomberg report.&nbsp;Taco Bell is said to have been dissatisfied with samples it received in October, although the companies continue to work together on new products.&nbsp;Beyond Meat slipped 1.6% in premarket trading.</p><p><blockquote><b>Beyond Meat(BYND)</b>-据彭博社报道，连锁餐厅塔可钟放弃了测试Beyond Meat植物版carne asada的计划。据称，塔可钟对10月份收到的样品不满意，尽管两家公司继续合作开发新产品。Beyond Meat在盘前交易中下跌1.6%。</blockquote></p><p> <b>American Outdoor Brands(AOUT)</b> – The outdoor products maker reported adjusted quarterly profit of 58 cents per share, well below the 76 cent consensus estimate, with revenue also falling short of analyst forecasts.&nbsp;The company said sales slowed due to a shift in customer purchase timing into the prior quarter to lessen supply chain concerns.&nbsp;American Outdoor shares plummeted 19% in premarket action.</p><p><blockquote><b>美国户外品牌(AOUT)</b>——这家户外用品制造商报告调整后季度利润为每股58美分，远远低于市场普遍预期的76美分，营收也低于分析师预期。该公司表示，由于客户购买时间与上一季度相比有所转移，从而缓解供应链担忧，美国户外用品公司的销售速度下降了19%，市场前美国户外用品股下跌了19%。</blockquote></p><p> <b>Vail Resorts(MTN)</b> – The resort operator lost $3.44 per share for its latest quarter, smaller than the loss of $3.62 that analysts had anticipated, thanks to a jump in season pass sales.&nbsp;However, revenue was below estimates.</p><p><blockquote><b>韦尔度假村(MTN)</b>-由于季票销售激增，该度假村运营商最近一个季度每股亏损3.44美元，低于分析师预期的3.62美元。然而，收入低于预期。</blockquote></p><p></p><p> <b>Peloton(PTON)</b> – The fitness equipment maker’s shares lost 3.6% in the premarket after Credit Suisse downgraded the stock to “neutral” from “outperform”.&nbsp;The firm noted a number of headwinds for Peloton, including a return to out-of-home fitness and a shift in consumer spending.</p><p><blockquote><b>Peloton(PTON)</b>-瑞士信贷将该股评级从“跑赢大盘”下调至“中性”后，这家健身器材制造商的股价在盘前下跌3.6%。该公司指出Peloton面临许多不利因素，包括回归户外健身和消费者支出的转变。</blockquote></p><p> <b>AMC Entertainment(AMC)</b> – The movie theater operator’s shares slid 1% in premarket trading, after SEC filings showed a sale of 312,500 shares by CEO Adam Aron and a sale of 18,000 shares by CFO Sean Goodman.&nbsp;Aron had indicated in November that he would soon begin selling shares as part of estate planning.</p><p><blockquote><b>AMC院线(AMC)</b>-这家电影院运营商的股价在盘前交易中下跌1%，此前美国证券交易委员会(SEC)提交的文件显示，首席执行官亚当·阿伦(Adam Aron)出售了312,500股，首席财务官肖恩·古德曼(Sean Goodman)出售了18,000股。阿伦曾在11月份表示，作为遗产规划的一部分，他将很快开始出售股票。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MTN":"Vail Resorts Inc",".SPX":"S&P 500 Index","AVGO":"博通","BNTX":"BioNTech SE","NVAX":"诺瓦瓦克斯医药",".IXIC":"NASDAQ Composite","BYND":"Beyond Meat, Inc.","COST":"好市多","MRNA":"Moderna, Inc.",".DJI":"道琼斯","ORCL":"甲骨文","AOUT":"American Outdoor Brands, Inc.","AMC":"AMC院线","AI":"C3.ai, Inc.","PTON":"Peloton Interactive, Inc.","LULU":"lululemon athletica","CHWY":"Chewy, Inc.","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115031273","content_text":"Stock-market index trade higher after inflation report.\nAt 8:34 a.m. ET, Dow e-minis were up 176 points, or 0.49%, S&P 500 e-minis were up 30.75 points, or 0.66%, and Nasdaq 100 e-minis were up 115.25 points, or 0.71%.\n\nInflation accelerated at its fastest pace since 1982 in November, the Labor Department said Friday, putting pressure on the economic recovery and raising the stakes for the Federal Reserve.\nThe consumer price index, which measures the cost of a wide-ranging basket of goods, rose 0.8% for the month, good for a 6.8% pace on a year over year basis and the fastest rate since June 1982.\nExcluding food and energy prices, so-called core CPI was up 0.5% for the month and 4.9% from a year ago, which itself was the sharpest pickup since mid-1991.\nThe Dow Jones estimate was for a 6.7% annual gain for headline CPI and 4.9% for core.\nStocks making the biggest moves premarket:\nTesla(TSLA) – Tesla Inc Chief Executive Officer Elon Musk has sold another 934,091 shares of the electric vehicle maker worth $963.2 million, U.S. securities filings showed on Thursday.He also exercised stock options to buy 2.17 million shares of Tesla, according to the filings.Musk is \"thinking of\" leaving his jobs and becoming an influencer, the world's richest man tweeted on Thursday.It was not immediately clear if Musk, a prolific user of the social media platform, was being serious about quitting his roles.Tesla shares dropped more than 1% in premarket trading.\nOracle(ORCL) – Oracle shares surged 12% in the premarket, after quarterly sales and revenue beat estimates and the business software company announced a $10 billion increase in its share repurchase program. Oracle earned an adjusted $1.21 per share, 10 cents above estimates, with particular strength for its cloud infrastructure business.\nBroadcom(AVGO) – The chip maker’s shares rallied nearly 7% in premarket trading after it beat Street forecasts on the top and bottom lines for its latest quarter. Broadcom earned an adjusted $7.81 per share, 7 cents above estimates, and also issued an upbeat forecast on continued high demand from its cloud computing customers.\nChewy(CHWY) – The online pet products retailer’s stock tumbled 10% in the premarket after it reported a wider-than-expected quarterly loss. Sales were in line with Street forecasts, but profit was impacted by higher costs for labor and supply chain issues.\nModerna(MRNA) – Moderna shares plunged 10% in premarket trading.Other vaccine stocks also fell.BioNTech fell more than 5%,Novavax fell more than 3%.\nLululemon(LULU) – The athletic apparel maker reported adjusted quarterly profit of $1.62 per share, 21 cents above estimates, with revenue slightly above forecasts as well. However, Lululemon also warned that new Covid-19 variants could impact demand for “athleisure” clothing if virus concerns lead to temporary store closures and further supply chain issues. The stock slid 1.3% in premarket action.\nC3Ai(AI) – The artificial intelligence software company’s stock soared 20% in the premarket after it won a $500 million contract from the U.S. Department of Defense for its suite of AI products.\nCostco(COST) – The warehouse retailer earned $2.98 per share for its latest quarter, compared with a consensus estimate of $2.64, with revenue topping Street forecasts as well. The beat came despite higher costs and supply chain issues that Costco said it was able to largely mitigate. Costco rose 1.8% in the premarket.\nBeyond Meat(BYND) – Restaurant chain Taco Bell dropped plans to test Beyond Meat’s plant-based version of carne asada,according to a Bloomberg report. Taco Bell is said to have been dissatisfied with samples it received in October, although the companies continue to work together on new products. Beyond Meat slipped 1.6% in premarket trading.\nAmerican Outdoor Brands(AOUT) – The outdoor products maker reported adjusted quarterly profit of 58 cents per share, well below the 76 cent consensus estimate, with revenue also falling short of analyst forecasts. The company said sales slowed due to a shift in customer purchase timing into the prior quarter to lessen supply chain concerns. American Outdoor shares plummeted 19% in premarket action.\nVail Resorts(MTN) – The resort operator lost $3.44 per share for its latest quarter, smaller than the loss of $3.62 that analysts had anticipated, thanks to a jump in season pass sales. However, revenue was below estimates.\nPeloton(PTON) – The fitness equipment maker’s shares lost 3.6% in the premarket after Credit Suisse downgraded the stock to “neutral” from “outperform”. The firm noted a number of headwinds for Peloton, including a return to out-of-home fitness and a shift in consumer spending.\nAMC Entertainment(AMC) – The movie theater operator’s shares slid 1% in premarket trading, after SEC filings showed a sale of 312,500 shares by CEO Adam Aron and a sale of 18,000 shares by CFO Sean Goodman. Aron had indicated in November that he would soon begin selling shares as part of estate planning.","news_type":1,"symbols_score_info":{"AMC":0.9,"MTN":0.9,"AOUT":0.9,"MRNA":0.9,"NVAX":0.9,"TSLA":0.9,".IXIC":0.9,".SPX":0.9,"AI":0.9,".DJI":0.9,"AVGO":0.9,"CHWY":0.9,"BNTX":0.9,"PTON":0.9,"LULU":0.9,"BYND":0.9,"COST":0.9,"ORCL":0.9}},"isVote":1,"tweetType":1,"viewCount":611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602957461,"gmtCreate":1638963307173,"gmtModify":1638963307403,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/602957461","repostId":"1137698347","repostType":4,"repost":{"id":"1137698347","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1638962446,"share":"https://www.laohu8.com/m/news/1137698347?lang=zh_CN&edition=full","pubTime":"2021-12-08 19:20","market":"us","language":"en","title":"Ford Says Nearing 200,000 F-150 Lightning Reservations, Order Bank Opening Soon<blockquote>福特表示F-150 Lightning预订量接近20万辆，订单银行即将开业</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137698347","media":"Benzinga","summary":"Ford Motor Co told Benzinga on Tuesday its hotly-anticipated F-150 Lightning electric truck has secu","content":"<p><b>Ford Motor Co</b>&nbsp;told Benzinga on Tuesday its hotly-anticipated F-150 Lightning electric truck has secured nearly 200,000 bookings and the order bank is expected to open soon.</p><p><blockquote><b>福特汽车公司</b>周二告诉Benzinga，其备受期待的F-150 Lightning电动卡车已获得近20万份预订，订单库预计很快就会开放。</blockquote></p><p> <b>What Happened:</b>The latest numbers are a significant jump from a month ago, when the Dearborn, Michigan-based Ford said bookings had touched 160,000 units for the electric variant of its best-selling truck.</p><p><blockquote><b>发生了什么：</b>最新数字较一个月前大幅跃升，当时总部位于密歇根州迪尔伯恩的福特表示，其最畅销卡车的电动车型预订量已达到16万辆。</blockquote></p><p> The electric version of Ford’s most profitable and popular pickup truck will&nbsp;go on sale in Spring at a ticket price of $39,974 and up&nbsp;for the base model and a range of 230 miles for the standard range.</p><p><blockquote>福特最赚钱、最受欢迎的皮卡车的电动版将于春季上市，基本车型的票价为39,974美元及以上，标准续航里程为230英里。</blockquote></p><p> “We’re on track for customer deliveries to begin in spring 2022 and order banks will open soon,” a Ford spokesperson said.</p><p><blockquote>福特发言人表示：“我们有望于2022年春季开始向客户交付，订单银行也将很快开业。”</blockquote></p><p> Ford will soon invite reservation holders to place the final orders. Reservations are not final orders but, hypothetically, even half of those $100 fully-refundable bookings could fetch Ford significant volumes for the Lightning.</p><p><blockquote>福特将很快邀请预订者下最终订单。预订并不是最终订单，但假设，即使是100美元可全额退款的预订中的一半也可以为福特的Lightning带来大量销量。</blockquote></p><p> The fresh reservation numbers indicate customers would likely have to wait much longer than previously anticipated to get the deliveries, given the limited capacity at the moment.</p><p><blockquote>新的预订数字表明，鉴于目前运力有限，客户可能需要等待比之前预期更长的时间才能收到货物。</blockquote></p><p> Ford had earlier said it would ramp up production for the F-150 Lightning electric truck and build 15,000 F-150s next year after the truck's spring launch, 55,000 in 2023 and eventually reach the 80,000 mark in 2024.</p><p><blockquote>福特早些时候表示，将提高F-150 Lightning电动卡车的产量，并在该卡车春季推出后明年生产15,000辆F-150，2023年生产55,000辆，最终在2024年达到80,000辆大关。</blockquote></p><p> Ford said early indications show over 70% of the latest booing numbers for the electric truck are brand new customers for the automaker.</p><p><blockquote>福特表示，早期迹象显示，电动卡车的最新嘘声中超过70%是该汽车制造商的全新客户。</blockquote></p><p> The automaker said California, Texas and Florida are among the top three states for the reservations.</p><p><blockquote>该汽车制造商表示，加利福尼亚州、德克萨斯州和佛罗里达州是预订量排名前三的州之一。</blockquote></p><p> <b>Why It Matters:</b>Ford is expecting the popularity of its best-selling and the most-profitable full size pickup truck F-150 to trickle down to the electric variant as well.</p><p><blockquote><b>为什么重要：</b>福特预计其最畅销、最赚钱的全尺寸皮卡F-150的受欢迎程度也将渗透到电动车型中。</blockquote></p><p> The F-150 alone contributed over 27% of Ford’s total production numbers of 201,353 units in the month of October, as per the company data.</p><p><blockquote>根据公司数据，仅F-150就占福特10月份总产量201,353辆的27%以上。</blockquote></p><p> Ford CEO&nbsp;<b>Jim Farley</b>&nbsp;last week said the automaker will double electric vehicle production to 600,000 units by 2023 due to higher demand and said it aims the automaker to become the biggest electric vehicle maker in the world.</p><p><blockquote>福特CEO<b>吉姆·法利</b>上周表示，由于需求增加，该汽车制造商将在2023年前将电动汽车产量翻一番，达到60万辆，并表示该汽车制造商的目标是成为全球最大的电动汽车制造商。</blockquote></p><p> F-150 Lightning will be Ford’s second fully electric model on sale after Mustang Mach-E.</p><p><blockquote>F-150 Lightning将是福特继野马Mach-E之后第二款在售的全电动车型。</blockquote></p><p> <b>Price Action:</b>Ford shares closed 3.85% higher at $19.96 a share on Tuesday.</p><p><blockquote><b>价格走势：</b>福特股价周二收盘上涨3.85%，至每股19.96美元。</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>Ford Says Nearing 200,000 F-150 Lightning Reservations, Order Bank Opening Soon<blockquote>福特表示F-150 Lightning预订量接近20万辆，订单银行即将开业</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\">\nFord Says Nearing 200,000 F-150 Lightning Reservations, Order Bank Opening Soon<blockquote>福特表示F-150 Lightning预订量接近20万辆，订单银行即将开业</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-12-08 19:20</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Ford Motor Co</b>&nbsp;told Benzinga on Tuesday its hotly-anticipated F-150 Lightning electric truck has secured nearly 200,000 bookings and the order bank is expected to open soon.</p><p><blockquote><b>福特汽车公司</b>周二告诉Benzinga，其备受期待的F-150 Lightning电动卡车已获得近20万份预订，订单库预计很快就会开放。</blockquote></p><p> <b>What Happened:</b>The latest numbers are a significant jump from a month ago, when the Dearborn, Michigan-based Ford said bookings had touched 160,000 units for the electric variant of its best-selling truck.</p><p><blockquote><b>发生了什么：</b>最新数字较一个月前大幅跃升，当时总部位于密歇根州迪尔伯恩的福特表示，其最畅销卡车的电动车型预订量已达到16万辆。</blockquote></p><p> The electric version of Ford’s most profitable and popular pickup truck will&nbsp;go on sale in Spring at a ticket price of $39,974 and up&nbsp;for the base model and a range of 230 miles for the standard range.</p><p><blockquote>福特最赚钱、最受欢迎的皮卡车的电动版将于春季上市，基本车型的票价为39,974美元及以上，标准续航里程为230英里。</blockquote></p><p> “We’re on track for customer deliveries to begin in spring 2022 and order banks will open soon,” a Ford spokesperson said.</p><p><blockquote>福特发言人表示：“我们有望于2022年春季开始向客户交付，订单银行也将很快开业。”</blockquote></p><p> Ford will soon invite reservation holders to place the final orders. Reservations are not final orders but, hypothetically, even half of those $100 fully-refundable bookings could fetch Ford significant volumes for the Lightning.</p><p><blockquote>福特将很快邀请预订者下最终订单。预订并不是最终订单，但假设，即使是100美元可全额退款的预订中的一半也可以为福特的Lightning带来大量销量。</blockquote></p><p> The fresh reservation numbers indicate customers would likely have to wait much longer than previously anticipated to get the deliveries, given the limited capacity at the moment.</p><p><blockquote>新的预订数字表明，鉴于目前运力有限，客户可能需要等待比之前预期更长的时间才能收到货物。</blockquote></p><p> Ford had earlier said it would ramp up production for the F-150 Lightning electric truck and build 15,000 F-150s next year after the truck's spring launch, 55,000 in 2023 and eventually reach the 80,000 mark in 2024.</p><p><blockquote>福特早些时候表示，将提高F-150 Lightning电动卡车的产量，并在该卡车春季推出后明年生产15,000辆F-150，2023年生产55,000辆，最终在2024年达到80,000辆大关。</blockquote></p><p> Ford said early indications show over 70% of the latest booing numbers for the electric truck are brand new customers for the automaker.</p><p><blockquote>福特表示，早期迹象显示，电动卡车的最新嘘声中超过70%是该汽车制造商的全新客户。</blockquote></p><p> The automaker said California, Texas and Florida are among the top three states for the reservations.</p><p><blockquote>该汽车制造商表示，加利福尼亚州、德克萨斯州和佛罗里达州是预订量排名前三的州之一。</blockquote></p><p> <b>Why It Matters:</b>Ford is expecting the popularity of its best-selling and the most-profitable full size pickup truck F-150 to trickle down to the electric variant as well.</p><p><blockquote><b>为什么重要：</b>福特预计其最畅销、最赚钱的全尺寸皮卡F-150的受欢迎程度也将渗透到电动车型中。</blockquote></p><p> The F-150 alone contributed over 27% of Ford’s total production numbers of 201,353 units in the month of October, as per the company data.</p><p><blockquote>根据公司数据，仅F-150就占福特10月份总产量201,353辆的27%以上。</blockquote></p><p> Ford CEO&nbsp;<b>Jim Farley</b>&nbsp;last week said the automaker will double electric vehicle production to 600,000 units by 2023 due to higher demand and said it aims the automaker to become the biggest electric vehicle maker in the world.</p><p><blockquote>福特CEO<b>吉姆·法利</b>上周表示，由于需求增加，该汽车制造商将在2023年前将电动汽车产量翻一番，达到60万辆，并表示该汽车制造商的目标是成为全球最大的电动汽车制造商。</blockquote></p><p> F-150 Lightning will be Ford’s second fully electric model on sale after Mustang Mach-E.</p><p><blockquote>F-150 Lightning将是福特继野马Mach-E之后第二款在售的全电动车型。</blockquote></p><p> <b>Price Action:</b>Ford shares closed 3.85% higher at $19.96 a share on Tuesday.</p><p><blockquote><b>价格走势：</b>福特股价周二收盘上涨3.85%，至每股19.96美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"F":"福特汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137698347","content_text":"Ford Motor Co told Benzinga on Tuesday its hotly-anticipated F-150 Lightning electric truck has secured nearly 200,000 bookings and the order bank is expected to open soon.\nWhat Happened:The latest numbers are a significant jump from a month ago, when the Dearborn, Michigan-based Ford said bookings had touched 160,000 units for the electric variant of its best-selling truck.\nThe electric version of Ford’s most profitable and popular pickup truck will go on sale in Spring at a ticket price of $39,974 and up for the base model and a range of 230 miles for the standard range.\n“We’re on track for customer deliveries to begin in spring 2022 and order banks will open soon,” a Ford spokesperson said.\nFord will soon invite reservation holders to place the final orders. Reservations are not final orders but, hypothetically, even half of those $100 fully-refundable bookings could fetch Ford significant volumes for the Lightning.\nThe fresh reservation numbers indicate customers would likely have to wait much longer than previously anticipated to get the deliveries, given the limited capacity at the moment.\nFord had earlier said it would ramp up production for the F-150 Lightning electric truck and build 15,000 F-150s next year after the truck's spring launch, 55,000 in 2023 and eventually reach the 80,000 mark in 2024.\nFord said early indications show over 70% of the latest booing numbers for the electric truck are brand new customers for the automaker.\nThe automaker said California, Texas and Florida are among the top three states for the reservations.\nWhy It Matters:Ford is expecting the popularity of its best-selling and the most-profitable full size pickup truck F-150 to trickle down to the electric variant as well.\nThe F-150 alone contributed over 27% of Ford’s total production numbers of 201,353 units in the month of October, as per the company data.\nFord CEO Jim Farley last week said the automaker will double electric vehicle production to 600,000 units by 2023 due to higher demand and said it aims the automaker to become the biggest electric vehicle maker in the world.\nF-150 Lightning will be Ford’s second fully electric model on sale after Mustang Mach-E.\nPrice Action:Ford shares closed 3.85% higher at $19.96 a share on Tuesday.","news_type":1,"symbols_score_info":{"F":0.9}},"isVote":1,"tweetType":1,"viewCount":792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608141982,"gmtCreate":1638670990086,"gmtModify":1638670990192,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608141982","repostId":"2188528084","repostType":4,"isVote":1,"tweetType":1,"viewCount":835,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608141053,"gmtCreate":1638670962404,"gmtModify":1638670962550,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Sell","listText":"Sell","text":"Sell","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/608141053","repostId":"2188853578","repostType":4,"isVote":1,"tweetType":1,"viewCount":829,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":608968626,"gmtCreate":1638597973233,"gmtModify":1638597973342,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/608968626","repostId":"1174181873","repostType":4,"repost":{"id":"1174181873","kind":"news","pubTimestamp":1638578178,"share":"https://www.laohu8.com/m/news/1174181873?lang=zh_CN&edition=full","pubTime":"2021-12-04 08:36","market":"us","language":"en","title":"US IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国IPO周：数字银行和云基础设施引领IPO周4</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1174181873","media":"renaissancecap...","summary":"The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billi","content":"<p>The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.</p><p><blockquote>IPO市场预计将在未来一周回暖，预计将有四起IPO筹集37亿美元。</blockquote></p><p> Buffett-backed&nbsp;<b>Nu Holdings</b>(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.</p><p><blockquote>巴菲特支持<b>Nu控股</b>(NU)计划以411亿美元的市值筹集25亿美元。这家巴西纯在线银行成立于2013年，名为Nubank，旨在推出具有移动优先客户体验的免费信用卡产品，但此后已扩展到提供各种其他金融产品。Nu自成立以来发展迅速，目前拥有近5000万客户群，尽管随着客户群的增长，每个客户的收入一直在下降。</blockquote></p><p> Cloud infrastructure platform&nbsp;<b>HashiCorp</b>(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&amp;M spend.</p><p><blockquote>云基础设施平台<b>哈希公司</b>(HCP)计划以140亿美元的市值筹集11亿美元。这家风险投资支持的公司提供了一套解决方案，可标准化和自动化大规模云基础设施的配置、保护、连接和运行。尽管HashiCorp表现出快速增长和粘性客户群，但由于S&amp;M支出，HashiCorp非常无利可图。</blockquote></p><p> Cannabis finance REIT&nbsp;<b>Chicago Atlantic Real Estate Finance</b>(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.</p><p><blockquote>大麻金融房地产投资信托基金<b>芝加哥大西洋房地产金融</b>(REFI)计划以2.96亿美元的市值筹集1.06亿美元。这个新成立的房地产投资信托基金专注于发起、构建和投资由商业房地产担保的第一抵押贷款和另类结构性融资。其目前的投资组合包括向大麻行业国家许可运营商提供的高级贷款。</blockquote></p><p> Canadian gold exploration company&nbsp;<b>Austin Gold</b>(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.</p><p><blockquote>加拿大黄金勘探公司<b>奥斯汀·戈尔德</b>(AUST)计划以6400万美元的市值筹集1500万美元。这家加拿大黄金勘探公司目前拥有位于内华达州的四处地产的权益，目前只有一处地产被认为是重要的。迄今为止，奥斯汀黄金尚未产生任何营业收入。</blockquote></p><p></p>","source":"lsy1619493174116","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>US IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国IPO周：数字银行和云基础设施引领IPO周4</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\">\nUS IPO Week Ahead: Digital banking and cloud infrastructure lead a 4 IPO week<blockquote>美国IPO周：数字银行和云基础设施引领IPO周4</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">renaissancecap...</strong><span class=\"h-time small\">2021-12-04 08:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.</p><p><blockquote>IPO市场预计将在未来一周回暖，预计将有四起IPO筹集37亿美元。</blockquote></p><p> Buffett-backed&nbsp;<b>Nu Holdings</b>(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.</p><p><blockquote>巴菲特支持<b>Nu控股</b>(NU)计划以411亿美元的市值筹集25亿美元。这家巴西纯在线银行成立于2013年，名为Nubank，旨在推出具有移动优先客户体验的免费信用卡产品，但此后已扩展到提供各种其他金融产品。Nu自成立以来发展迅速，目前拥有近5000万客户群，尽管随着客户群的增长，每个客户的收入一直在下降。</blockquote></p><p> Cloud infrastructure platform&nbsp;<b>HashiCorp</b>(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&amp;M spend.</p><p><blockquote>云基础设施平台<b>哈希公司</b>(HCP)计划以140亿美元的市值筹集11亿美元。这家风险投资支持的公司提供了一套解决方案，可标准化和自动化大规模云基础设施的配置、保护、连接和运行。尽管HashiCorp表现出快速增长和粘性客户群，但由于S&amp;M支出，HashiCorp非常无利可图。</blockquote></p><p> Cannabis finance REIT&nbsp;<b>Chicago Atlantic Real Estate Finance</b>(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.</p><p><blockquote>大麻金融房地产投资信托基金<b>芝加哥大西洋房地产金融</b>(REFI)计划以2.96亿美元的市值筹集1.06亿美元。这个新成立的房地产投资信托基金专注于发起、构建和投资由商业房地产担保的第一抵押贷款和另类结构性融资。其目前的投资组合包括向大麻行业国家许可运营商提供的高级贷款。</blockquote></p><p> Canadian gold exploration company&nbsp;<b>Austin Gold</b>(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.</p><p><blockquote>加拿大黄金勘探公司<b>奥斯汀·戈尔德</b>(AUST)计划以6400万美元的市值筹集1500万美元。这家加拿大黄金勘探公司目前拥有位于内华达州的四处地产的权益，目前只有一处地产被认为是重要的。迄今为止，奥斯汀黄金尚未产生任何营业收入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/89235/US-IPO-Week-Ahead-Digital-banking-and-cloud-infrastructure-lead-a-4-IPO-wee\">renaissancecap...</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":{"NU":"Nu Holdings Ltd.","HCP":"HashiCorp, Inc.","REFI":"Chicago Atlantic Real Estate Finance, Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/89235/US-IPO-Week-Ahead-Digital-banking-and-cloud-infrastructure-lead-a-4-IPO-wee","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174181873","content_text":"The IPO market is expected to pick up in the week ahead with four IPOs scheduled to raise $3.7 billion.\nBuffett-backed Nu Holdings(NU) plans to raise $2.5 billion at a $41.1 billion market cap. Operating as Nubank, this Brazilian online-only bank was formed in 2013 to launch a no-fees credit card offering with a mobile-first customer experience, but has since expanded to offer various other financial products. Nu has grown rapidly since its inception, with a current base of nearly 50 million customers, though revenue per customer has been falling as its base grows.\nCloud infrastructure platform HashiCorp(HCP) plans to raise $1.1 billion at a $14.0 billion market cap. This VC-backed company provides a suite of solutions that standardize and automate the provisioning, securing, connecting, and running of cloud infrastructure at scale. While it has demonstrated rapid growth and a sticky customer base, HashiCorp is highly unprofitable due to S&M spend.\nCannabis finance REIT Chicago Atlantic Real Estate Finance(REFI) plans to raise $106 million at a $296 million market cap. This newly-formed REIT is focused on originating, structuring, and investing in first mortgage loans and alternative structured financings secured by commercial real estate properties. Its current portfolio consists of senior loans to state-licensed operators in the cannabis industry.\nCanadian gold exploration company Austin Gold(AUST) plans to raise $15 million at a $64 million market cap. This Canadian gold exploration company currently has interests in four properties located in the state of Nevada, with just one property that it considers material at this time. Austin Gold has not generated any operating revenues to date.","news_type":1,"symbols_score_info":{"REFI":0.9,"HCP":0.9,"NU":0.9}},"isVote":1,"tweetType":1,"viewCount":916,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":601244720,"gmtCreate":1638539737877,"gmtModify":1638539738012,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"No dip","listText":"No dip","text":"No dip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/601244720","repostId":"1175699025","repostType":4,"repost":{"id":"1175699025","kind":"news","pubTimestamp":1638535445,"share":"https://www.laohu8.com/m/news/1175699025?lang=zh_CN&edition=full","pubTime":"2021-12-03 20:44","market":"us","language":"en","title":"Nvidia’s Purchase of Arm Is (Likely) Dead. What Comes Next?<blockquote>英伟达对Arm的收购（很可能）已经胎死腹中。接下来会发生什么？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175699025","media":"Barrons","summary":"Nvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconducto","content":"<p>Nvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconductor industry—looks dead in the water.</p><p><blockquote>英伟达以400亿美元收购Arm的交易——被誉为半导体行业历史上最大的交易——看起来已经泡汤了。</blockquote></p><p> The Federal Trade Commission sued to block the deal Thursday, citing competition concerns and all but killing the prospect of Nvidia (ticker: NVDA) taking over control of the leading chip designer from&nbsp;SoftBank&nbsp;(SFTBY). And while Nvidia has vowed to press ahead, the transaction faces further scrutiny in Europe and China.</p><p><blockquote>美国联邦贸易委员会周四提起诉讼，要求阻止该交易，理由是竞争担忧，并且几乎扼杀了英伟达（股票代码：NVDA）从软银（SFTBY）手中接管这家领先芯片设计公司的前景。尽管英伟达发誓要继续推进，但该交易在欧洲和中国面临进一步审查。</blockquote></p><p> So what comes next?</p><p><blockquote>那么接下来会发生什么？</blockquote></p><p> Following news of the FTC’s hammer-blow, analysts at Citibank slashed the probability of the deal going through to 5% from 30%. The chances used to be slim. Now they’re very slim.</p><p><blockquote>在联邦贸易委员会重拳出击的消息传出后，花旗银行分析师将交易通过的可能性从30%下调至5%。以前机会很小。现在它们非常苗条。</blockquote></p><p> “Nobody thinks this is going to close,” Stacy Rasgon, an analyst at Bernstein Research, told MarketWatch Thursday. “The stock didn’t even bobble when the news came out.”</p><p><blockquote>伯恩斯坦研究公司(Bernstein Research)分析师斯泰西·拉斯贡(Stacy Rasgon)周四对MarketWatch表示：“没有人认为这会结束。”“当消息传出时，该股甚至没有下跌。”</blockquote></p><p> That underscores the fact that analysts have been pessimistic about this for a while.</p><p><blockquote>这凸显了分析师对此持悲观态度已有一段时间的事实。</blockquote></p><p> Last month, Wedbush analyst Matt Bryson outlined how the broker and investment bank continued to believe the proposed coupling wouldn’t be approved. He cited not just regulatory pressure in the U.S., but also China.</p><p><blockquote>上个月，Wedbush分析师马特·布赖森(Matt Bryson)概述了该经纪商和投资银行如何仍然认为拟议的耦合不会获得批准。他不仅提到了美国的监管压力，还提到了中国的监管压力。</blockquote></p><p> “Any concerns about the Arm acquisition closing seem to be having little impact on the stock,” Bryson said at the time. “A lack of an Arm acquisition might have little impact on Nvidia’s momentum.”</p><p><blockquote>布赖森当时表示：“对Arm收购完成的任何担忧似乎对该股影响不大。”“没有收购Arm可能对英伟达的势头影响不大。”</blockquote></p><p> Remember: the metaverse, and the potentially lucrative future in virtual worlds that Nvidia is helping create, wasn’t a consideration for investors when the Arm deal was announced.</p><p><blockquote>请记住：当宣布Arm交易时，投资者并没有考虑元宇宙以及英伟达正在帮助创造的虚拟世界中潜在的利润丰厚的未来。</blockquote></p><p> Since then, Nvidia’s stock has climbed a staggering 165%, from around $120 a share to $320, on the back of a wave of growth optimism covering data centers and cloud computing, artificial intelligence, and, of course, the metaverse.</p><p><blockquote>从那时起，在涵盖数据中心和云计算、人工智能，当然还有元宇宙的增长乐观浪潮的推动下，英伟达的股价上涨了惊人的165%，从每股120美元左右上涨至320美元。</blockquote></p><p> But it’s not over ‘til it’s over. The deal is still alive, barely, for now.</p><p><blockquote>但直到结束才算结束。目前，这笔交易仍然有效，勉强有效。</blockquote></p><p> The thrust of the concerns from the FTC and other regulators is that Arm’s neutrality in the chip industry would be compromised under Nvidia’s ownership. Arm licenses intellectual property to the likes of&nbsp;Apple&nbsp;(AAPL),Amazon&nbsp;(AMZN),Qualcomm&nbsp;(QCOM) and others.</p><p><blockquote>联邦贸易委员会和其他监管机构担忧的主旨是，在英伟达的所有权下，Arm在芯片行业的中立性将受到损害。Arm将知识产权授权给苹果(AAPL)、亚马逊(AMZN)、高通(QCOM)等公司。</blockquote></p><p> If Nvidia owns Arm, the competition concerns go, then it would have access to competitively sensitive information about Arm’s clients, and Arm would be unlikely to pursue innovations that challenge Nvidia’s interests.</p><p><blockquote>如果英伟达拥有Arm，竞争担忧就会消失，那么它将能够获得有关Arm客户的竞争敏感信息，而Arm不太可能追求挑战英伟达利益的创新。</blockquote></p><p> Can these concerns really be addressed?</p><p><blockquote>这些担忧真的能得到解决吗？</blockquote></p><p> “We view a potential path forward if Nvidia can present remedies that, among other options, might include creating a ‘Chinese Wall’ between the research and development engine and Arm business contracts in order to ease the regulatory antitrust concerns,” Citibank analysts Atif Malik and Amanda Scarnati said.</p><p><blockquote>花旗银行分析师Atif表示：“如果英伟达能够提出补救措施，我们认为这是一条潜在的前进道路，其中包括在研发引擎和Arm业务合同之间建立一堵‘中国墙’，以缓解监管反垄断担忧。”马利克和阿曼达·斯卡纳蒂说道。</blockquote></p><p> A dead deal is likely to hurt SoftBank the most. While the Japanese technology investor would get to keep the $2 billion Nvidia paid up front, which includes a $1.25 billion breakup fee, the $40 billion ticket price actually represented a whole lot more.</p><p><blockquote>一笔死交易对软银的伤害可能最大。虽然这家日本科技投资者将保留英伟达预先支付的20亿美元，其中包括12.5亿美元的分手费，但400亿美元的票价实际上意味着更多。</blockquote></p><p> That $40 billion figure included what, at the time, was 44.3 million Nvidia shares valued at some $21.5 billion. Since then, Nvidia’s stock has torn higher, making the stock part of a cash-and-stock deal a lot more lucrative.</p><p><blockquote>这400亿美元的数字包括当时4430万股Nvidia股票，价值约215亿美元。此后，英伟达的股价一路走高，使得现金加股票交易的股票利润更高。</blockquote></p><p> Nvidia stock was 0.8% lower in premarket trading Friday, slightly outpacing declines in Nasdaq 100 futures.</p><p><blockquote>周五盘前交易中，英伟达股价下跌0.8%，略高于纳斯达克100指数期货的跌幅。</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>Nvidia’s Purchase of Arm Is (Likely) Dead. What Comes Next?<blockquote>英伟达对Arm的收购（很可能）已经胎死腹中。接下来会发生什么？</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\">\nNvidia’s Purchase of Arm Is (Likely) Dead. What Comes Next?<blockquote>英伟达对Arm的收购（很可能）已经胎死腹中。接下来会发生什么？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-03 20:44</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconductor industry—looks dead in the water.</p><p><blockquote>英伟达以400亿美元收购Arm的交易——被誉为半导体行业历史上最大的交易——看起来已经泡汤了。</blockquote></p><p> The Federal Trade Commission sued to block the deal Thursday, citing competition concerns and all but killing the prospect of Nvidia (ticker: NVDA) taking over control of the leading chip designer from&nbsp;SoftBank&nbsp;(SFTBY). And while Nvidia has vowed to press ahead, the transaction faces further scrutiny in Europe and China.</p><p><blockquote>美国联邦贸易委员会周四提起诉讼，要求阻止该交易，理由是竞争担忧，并且几乎扼杀了英伟达（股票代码：NVDA）从软银（SFTBY）手中接管这家领先芯片设计公司的前景。尽管英伟达发誓要继续推进，但该交易在欧洲和中国面临进一步审查。</blockquote></p><p> So what comes next?</p><p><blockquote>那么接下来会发生什么？</blockquote></p><p> Following news of the FTC’s hammer-blow, analysts at Citibank slashed the probability of the deal going through to 5% from 30%. The chances used to be slim. Now they’re very slim.</p><p><blockquote>在联邦贸易委员会重拳出击的消息传出后，花旗银行分析师将交易通过的可能性从30%下调至5%。以前机会很小。现在它们非常苗条。</blockquote></p><p> “Nobody thinks this is going to close,” Stacy Rasgon, an analyst at Bernstein Research, told MarketWatch Thursday. “The stock didn’t even bobble when the news came out.”</p><p><blockquote>伯恩斯坦研究公司(Bernstein Research)分析师斯泰西·拉斯贡(Stacy Rasgon)周四对MarketWatch表示：“没有人认为这会结束。”“当消息传出时，该股甚至没有下跌。”</blockquote></p><p> That underscores the fact that analysts have been pessimistic about this for a while.</p><p><blockquote>这凸显了分析师对此持悲观态度已有一段时间的事实。</blockquote></p><p> Last month, Wedbush analyst Matt Bryson outlined how the broker and investment bank continued to believe the proposed coupling wouldn’t be approved. He cited not just regulatory pressure in the U.S., but also China.</p><p><blockquote>上个月，Wedbush分析师马特·布赖森(Matt Bryson)概述了该经纪商和投资银行如何仍然认为拟议的耦合不会获得批准。他不仅提到了美国的监管压力，还提到了中国的监管压力。</blockquote></p><p> “Any concerns about the Arm acquisition closing seem to be having little impact on the stock,” Bryson said at the time. “A lack of an Arm acquisition might have little impact on Nvidia’s momentum.”</p><p><blockquote>布赖森当时表示：“对Arm收购完成的任何担忧似乎对该股影响不大。”“没有收购Arm可能对英伟达的势头影响不大。”</blockquote></p><p> Remember: the metaverse, and the potentially lucrative future in virtual worlds that Nvidia is helping create, wasn’t a consideration for investors when the Arm deal was announced.</p><p><blockquote>请记住：当宣布Arm交易时，投资者并没有考虑元宇宙以及英伟达正在帮助创造的虚拟世界中潜在的利润丰厚的未来。</blockquote></p><p> Since then, Nvidia’s stock has climbed a staggering 165%, from around $120 a share to $320, on the back of a wave of growth optimism covering data centers and cloud computing, artificial intelligence, and, of course, the metaverse.</p><p><blockquote>从那时起，在涵盖数据中心和云计算、人工智能，当然还有元宇宙的增长乐观浪潮的推动下，英伟达的股价上涨了惊人的165%，从每股120美元左右上涨至320美元。</blockquote></p><p> But it’s not over ‘til it’s over. The deal is still alive, barely, for now.</p><p><blockquote>但直到结束才算结束。目前，这笔交易仍然有效，勉强有效。</blockquote></p><p> The thrust of the concerns from the FTC and other regulators is that Arm’s neutrality in the chip industry would be compromised under Nvidia’s ownership. Arm licenses intellectual property to the likes of&nbsp;Apple&nbsp;(AAPL),Amazon&nbsp;(AMZN),Qualcomm&nbsp;(QCOM) and others.</p><p><blockquote>联邦贸易委员会和其他监管机构担忧的主旨是，在英伟达的所有权下，Arm在芯片行业的中立性将受到损害。Arm将知识产权授权给苹果(AAPL)、亚马逊(AMZN)、高通(QCOM)等公司。</blockquote></p><p> If Nvidia owns Arm, the competition concerns go, then it would have access to competitively sensitive information about Arm’s clients, and Arm would be unlikely to pursue innovations that challenge Nvidia’s interests.</p><p><blockquote>如果英伟达拥有Arm，竞争担忧就会消失，那么它将能够获得有关Arm客户的竞争敏感信息，而Arm不太可能追求挑战英伟达利益的创新。</blockquote></p><p> Can these concerns really be addressed?</p><p><blockquote>这些担忧真的能得到解决吗？</blockquote></p><p> “We view a potential path forward if Nvidia can present remedies that, among other options, might include creating a ‘Chinese Wall’ between the research and development engine and Arm business contracts in order to ease the regulatory antitrust concerns,” Citibank analysts Atif Malik and Amanda Scarnati said.</p><p><blockquote>花旗银行分析师Atif表示：“如果英伟达能够提出补救措施，我们认为这是一条潜在的前进道路，其中包括在研发引擎和Arm业务合同之间建立一堵‘中国墙’，以缓解监管反垄断担忧。”马利克和阿曼达·斯卡纳蒂说道。</blockquote></p><p> A dead deal is likely to hurt SoftBank the most. While the Japanese technology investor would get to keep the $2 billion Nvidia paid up front, which includes a $1.25 billion breakup fee, the $40 billion ticket price actually represented a whole lot more.</p><p><blockquote>一笔死交易对软银的伤害可能最大。虽然这家日本科技投资者将保留英伟达预先支付的20亿美元，其中包括12.5亿美元的分手费，但400亿美元的票价实际上意味着更多。</blockquote></p><p> That $40 billion figure included what, at the time, was 44.3 million Nvidia shares valued at some $21.5 billion. Since then, Nvidia’s stock has torn higher, making the stock part of a cash-and-stock deal a lot more lucrative.</p><p><blockquote>这400亿美元的数字包括当时4430万股Nvidia股票，价值约215亿美元。此后，英伟达的股价一路走高，使得现金加股票交易的股票利润更高。</blockquote></p><p> Nvidia stock was 0.8% lower in premarket trading Friday, slightly outpacing declines in Nasdaq 100 futures.</p><p><blockquote>周五盘前交易中，英伟达股价下跌0.8%，略高于纳斯达克100指数期货的跌幅。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/nvidia-nvda-arm-acquisition-ftc-51638533956?mod=hp_LATEST\">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":{"NVDA":"英伟达"},"source_url":"https://www.barrons.com/articles/nvidia-nvda-arm-acquisition-ftc-51638533956?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175699025","content_text":"Nvidia‘s $40 billion purchase of Arm—heralded as the biggest deal in the history of the semiconductor industry—looks dead in the water.\nThe Federal Trade Commission sued to block the deal Thursday, citing competition concerns and all but killing the prospect of Nvidia (ticker: NVDA) taking over control of the leading chip designer from SoftBank (SFTBY). And while Nvidia has vowed to press ahead, the transaction faces further scrutiny in Europe and China.\nSo what comes next?\nFollowing news of the FTC’s hammer-blow, analysts at Citibank slashed the probability of the deal going through to 5% from 30%. The chances used to be slim. Now they’re very slim.\n“Nobody thinks this is going to close,” Stacy Rasgon, an analyst at Bernstein Research, told MarketWatch Thursday. “The stock didn’t even bobble when the news came out.”\nThat underscores the fact that analysts have been pessimistic about this for a while.\nLast month, Wedbush analyst Matt Bryson outlined how the broker and investment bank continued to believe the proposed coupling wouldn’t be approved. He cited not just regulatory pressure in the U.S., but also China.\n“Any concerns about the Arm acquisition closing seem to be having little impact on the stock,” Bryson said at the time. “A lack of an Arm acquisition might have little impact on Nvidia’s momentum.”\nRemember: the metaverse, and the potentially lucrative future in virtual worlds that Nvidia is helping create, wasn’t a consideration for investors when the Arm deal was announced.\nSince then, Nvidia’s stock has climbed a staggering 165%, from around $120 a share to $320, on the back of a wave of growth optimism covering data centers and cloud computing, artificial intelligence, and, of course, the metaverse.\nBut it’s not over ‘til it’s over. The deal is still alive, barely, for now.\nThe thrust of the concerns from the FTC and other regulators is that Arm’s neutrality in the chip industry would be compromised under Nvidia’s ownership. Arm licenses intellectual property to the likes of Apple (AAPL),Amazon (AMZN),Qualcomm (QCOM) and others.\nIf Nvidia owns Arm, the competition concerns go, then it would have access to competitively sensitive information about Arm’s clients, and Arm would be unlikely to pursue innovations that challenge Nvidia’s interests.\nCan these concerns really be addressed?\n“We view a potential path forward if Nvidia can present remedies that, among other options, might include creating a ‘Chinese Wall’ between the research and development engine and Arm business contracts in order to ease the regulatory antitrust concerns,” Citibank analysts Atif Malik and Amanda Scarnati said.\nA dead deal is likely to hurt SoftBank the most. While the Japanese technology investor would get to keep the $2 billion Nvidia paid up front, which includes a $1.25 billion breakup fee, the $40 billion ticket price actually represented a whole lot more.\nThat $40 billion figure included what, at the time, was 44.3 million Nvidia shares valued at some $21.5 billion. Since then, Nvidia’s stock has torn higher, making the stock part of a cash-and-stock deal a lot more lucrative.\nNvidia stock was 0.8% lower in premarket trading Friday, slightly outpacing declines in Nasdaq 100 futures.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":582,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":603742137,"gmtCreate":1638456326246,"gmtModify":1638456326353,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Grab money","listText":"Grab money","text":"Grab money","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/603742137","repostId":"1122539371","repostType":4,"repost":{"id":"1122539371","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1638455400,"share":"https://www.laohu8.com/m/news/1122539371?lang=zh_CN&edition=full","pubTime":"2021-12-02 22:30","market":"us","language":"en","title":"Singapore ride-hailing firm Grab spikes 18% on its first day of trading<blockquote>新加坡网约车公司Grab首日交易飙升18%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1122539371","media":"Tiger Newspress","summary":"Singapore ride-hailing firm Grab spikes 18% on its first day of trading.\n\nGrab, Southeast Asia's big","content":"<p>Singapore ride-hailing firm Grab spikes 18% on its first day of trading.</p><p><blockquote>新加坡网约车公司Grab首日交易股价飙升18%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/61b479a07f5b168e94fcce83e7ef2cc5\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <a href=\"https://laohu8.com/S/GRAB\">Grab</a>, Southeast Asia's biggest ride-hailing and food delivery firm,lists&nbsp;on Nasdaq on Thursday following its $40 billion merger with special-purpose acquisition company (SPAC) <a href=\"https://laohu8.com/S/AGC\">Altimeter Growth Corp</a>.</p><p><blockquote><a href=\"https://laohu8.com/S/GRAB\">抓住</a>东南亚最大的网约车和食品配送公司在以400亿美元与特殊目的收购公司(SPAC)合并后于周四在纳斯达克上市<a href=\"https://laohu8.com/S/AGC\">高度计增长公司</a>.</blockquote></p><p> The deal is the world's biggest ever by a blank-check company and the biggest U.S. listing by a Southeast Asian firm.</p><p><blockquote>这笔交易是全球有史以来最大的空白支票公司交易，也是东南亚公司在美国最大的上市交易。</blockquote></p><p> <b>WHAT IS GRAB?</b></p><p><blockquote><b>什么是GRAB？</b></blockquote></p><p> Founded in 2012, Grab is Southeast Asia's largest startup, valued at just over $16 billion last year. It launched as a Malaysian taxi-hailing service and now calls itself a \"superapp\" after expanding into food, grocery and parcel delivery and to digital payments, lending and other financial services.</p><p><blockquote>Grab成立于2012年，是东南亚最大的初创公司，去年估值略高于160亿美元。它最初是马来西亚的出租车服务，现在评级本身已经成为一个“超级应用程序”，后来扩展到食品、杂货和包裹递送以及数字支付、贷款和其他金融服务。</blockquote></p><p> Singapore-headquartered Grab operates across 465 cities in eight countries in the region, counting Indonesia as its biggest. Its venture with Singapore Telecommunications Ltd(STEL.SI)was awarded a digital bank license in Singapore last year.</p><p><blockquote>总部位于新加坡的Grab在该地区8个国家的465个城市开展业务，其中印度尼西亚是最大的城市。其与新加坡电信有限公司（STEL.SI）的合资企业去年在新加坡获得了数字银行牌照。</blockquote></p><p> Grab gained the global spotlight in 2018 when it bought the Southeast Asian business of Uber Technologies Inc(UBER.N)in return for the U.S. ride-hailing company taking a stake in Grab.</p><p><blockquote>Grab在2018年收购了Uber Technologies Inc(UBER.N)的东南亚业务，成为全球关注的焦点，以换取美国网约车公司入股Grab。</blockquote></p><p> With some 8,000 employees, Grab has tech centres in Singapore, Beijing, Seattle, Bengaluru and other places.</p><p><blockquote>Grab拥有约8000名员工，在新加坡、北京、西雅图、孟加拉鲁鲁等地设有技术中心。</blockquote></p><p> <b>WHO'S BACKING GRAB?</b></p><p><blockquote><b>世卫组织的后盾？</b></blockquote></p><p> Early investors include Japan's SoftBank, China's Didi Chuxing and venture capital firms Vertex Ventures Holdings and GGV Capital.</p><p><blockquote>早期投资者包括日本软银、中国滴滴出行以及风险投资公司Vertex Ventures Holdings和GGV Capital。</blockquote></p><p> Grab raised about $12 billion ahead of the listing. Investors range from venture and hedge funds to automobile companies and other ride-hailing firms, and include:</p><p><blockquote>Grab在上市前筹集了约120亿美元。投资者范围从风险投资和对冲基金到汽车公司和其他网约车公司，包括：</blockquote></p><p> Uber, Booking Holdings Inc, China Investment Corp, Coatue Management, Hillhouse Capital, Hyundai Motor Co, Invesco Ltd, Microsoft Corp, Ping An Capital Co, Toyota Motor Corp, and Yamaha Motor Co..</p><p><blockquote>优步、Booking Holdings Inc、中国投资公司、Coatue Management、高瓴资本、现代汽车公司、景顺有限公司、微软公司、平安资本公司、丰田汽车公司和雅马哈汽车公司..</blockquote></p><p> In the SPAC deal, about three dozen investors came on board including Temasek Holdings, BlackRock, Fidelity International, Abu Dhabi's Mubadala and Malaysia's Permodalan Nasional Bhd and Altimeter Capital.</p><p><blockquote>在SPAC交易中，大约有三打投资者加入，包括淡马锡控股、贝莱德、富达国际、阿布扎比的穆巴达拉、马来西亚的Permodalan Nasional Bhd和Altimeter Capital。</blockquote></p><p> <b>WHO'S THE COMPETITION?</b></p><p><blockquote><b>世卫组织是竞争对手？</b></blockquote></p><p> GoTo Group, formed by the merger of Indonesian ride-hailing and deliveries firm Gojek and local e-commerce leader Tokopedia is Grab's biggest competitor.</p><p><blockquote>GoTo Group由印度尼西亚叫车和送货公司Gojek和当地电子商务领导者Tokopedia合并而成，是Grab最大的竞争对手。</blockquote></p><p> Singapore-based Sea Ltd, which has e-commerce, gaming and a digital payments business, and is also muscling into food delivery and financial services in Indonesia. Sea has also won a digital bank license in Singapore.</p><p><blockquote>总部位于新加坡的Sea Ltd拥有电子商务、游戏和数字支付业务，还在印度尼西亚大力进军食品配送和金融服务领域。Sea还获得了新加坡的数字银行牌照。</blockquote></p><p> Grab is likely to increasingly start competing with banks as it expands its financial services.</p><p><blockquote>随着Grab扩大其金融服务，它可能会越来越多地开始与银行竞争。</blockquote></p><p> It also competes with such delivery companies as Foodpanda and Deliveroo PLC.</p><p><blockquote>它还与Foodpanda和户户送等快递公司竞争。</blockquote></p><p> <b>WHAT ARE GRAB'S FINANCIALS?</b></p><p><blockquote><b>GRAB的财务状况如何？</b></blockquote></p><p> Grab's third-quarter revenue fell 9% from a year earlier to $157 million. Its adjusted loss before interest, taxes, depreciation and amortization (EBITDA) widened 66% to $212 million. Gross merchandise value hit a quarterly record of $4 billion.</p><p><blockquote>Grab第三季度营收同比下降9%至1.57亿美元。其调整后的息税折旧摊销前亏损(EBITDA)扩大66%至2.12亿美元。商品总值创下40亿美元的季度纪录。</blockquote></p><p> The delivery business has emerged as the biggest segment as more consumers shifted to online food delivery during the pandemic.</p><p><blockquote>随着越来越多的消费者在疫情期间转向在线食品配送，配送业务已成为最大的细分市场。</blockquote></p><p> Grab forecasts it will turn profitable on an EBITDA basis in 2023.</p><p><blockquote>Grab预测其将于2023年在EBITDA基础上实现盈利。</blockquote></p><p> <b>WHO ARE ITS KEY EXECUTIVES?</b></p><p><blockquote><b>世卫组织是其主要高管？</b></blockquote></p><p> Anthony Tan, 39, is the company's CEO and co-founder.</p><p><blockquote>39岁的Anthony Tan是该公司的首席执行官兼联合创始人。</blockquote></p><p> Fellow co-founder Tan Hooi Ling, 38, runs Grab's operations, including corporate strategy and technology.</p><p><blockquote>38岁的联合创始人Tan Hooi Ling负责Grab的运营，包括企业战略和技术。</blockquote></p><p> Both Tans, unrelated, met at Harvard Business School, where they conceived the idea of the ride-hailing company.</p><p><blockquote>这两个没有血缘关系的人在哈佛商学院相遇，在那里他们构思了这家叫车公司的想法。</blockquote></p><p> Grab's president, Ming Maa, is a prominent dealmaker from SoftBank, who joined the company in 2016.</p><p><blockquote>Grab总裁Ming Maa是软银的著名交易撮合者，于2016年加入该公司。</blockquote></p><p> <b>Here are some milestones for the Singapore-headquartered company:</b></p><p><blockquote><b>以下是这家总部位于新加坡的公司的一些里程碑：</b></blockquote></p><p> 2011: Anthony Tan and co-founder Tan Hooi Ling create Grab in a Harvard Business School venture competition plan</p><p><blockquote>2011年：Anthony Tan和联合创始人Tan Hooi Ling在哈佛商学院创业竞赛计划中创建Grab</blockquote></p><p> 2012: Launches as MyTeksi taxi booking service in Malaysia</p><p><blockquote>2012年：在马来西亚推出MyTeksi出租车预订服务</blockquote></p><p> 2013: Expands to the Philippines, Thailand, Singapore as GrabTaxi</p><p><blockquote>2013年：作为GrabTaxi扩展到菲律宾、泰国、新加坡</blockquote></p><p> April 2014: Announces Series A funding</p><p><blockquote>2014年4月：宣布A轮融资</blockquote></p><p> June 2014: Launches in Indonesia</p><p><blockquote>2014年6月：在印度尼西亚推出</blockquote></p><p> December 2014: Japan's SoftBank&nbsp;invests $250 million in a funding round</p><p><blockquote>2014年12月：日本软银在一轮融资中投资2.5亿美元</blockquote></p><p> August 2015: Becomes a unicorn after $350 million funding round</p><p><blockquote>2015年8月：3.5亿美元融资后成为独角兽</blockquote></p><p> December 2015: Announces a strategic partnership with other ride-hailing companies Ola, Didi, and Lyft that competed against Uber</p><p><blockquote>2015年12月：宣布与其他与Uber竞争的网约车公司Ola、滴滴和Lyft建立战略合作伙伴关系</blockquote></p><p> January 2016: Rebrands to Grab from GrabTaxi to reflect expanding services</p><p><blockquote>2016年1月：从GrabTaxi更名为Grab，以反映不断扩大的服务</blockquote></p><p> November 2017: Launches GrabPay payments service for third-party transactions</p><p><blockquote>2017年11月：推出GrabPay第三方交易支付服务</blockquote></p><p> March 2018: Announces acquisition of Uber's business in Southeast Asia through an all-share deal, Uber becomes a strategic shareholder</p><p><blockquote>2018年3月：宣布通过全股交易收购Uber东南亚业务，Uber成为战略股东</blockquote></p><p> May 2018: Pilots GrabFood delivery service</p><p><blockquote>2018年5月：试点GrabFood配送服务</blockquote></p><p> July 2018: Unveils \"superapp\" strategy that provides a range of services under one platform</p><p><blockquote>2018年7月：推出“superapp”战略，在一个平台下提供一系列服务</blockquote></p><p> March 2019: Reaches valuation of about $14 billion</p><p><blockquote>2019年3月：估值达到约140亿美元</blockquote></p><p></p><p> December 2020: Wins digital full bank license in Singapore in a partnership with Singapore Telecommunications Ltd</p><p><blockquote>2020年12月：与新加坡电信有限公司合作，在新加坡获得数字全面银行牌照</blockquote></p><p> April 2021: Agrees to list on Nasdaq through a merger with special-purpose acquisition company Altimeter Growth Corp&nbsp;securing a valuation of nearly $40 billion</p><p><blockquote>2021年4月：同意通过与特殊目的收购公司Altimeter Growth Corp合并在纳斯达克上市，估值近400亿美元</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>Singapore ride-hailing firm Grab spikes 18% on its first day of trading<blockquote>新加坡网约车公司Grab首日交易飙升18%</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\">\nSingapore ride-hailing firm Grab spikes 18% on its first day of trading<blockquote>新加坡网约车公司Grab首日交易飙升18%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-02 22:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Singapore ride-hailing firm Grab spikes 18% on its first day of trading.</p><p><blockquote>新加坡网约车公司Grab首日交易股价飙升18%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/61b479a07f5b168e94fcce83e7ef2cc5\" tg-width=\"840\" tg-height=\"470\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <a href=\"https://laohu8.com/S/GRAB\">Grab</a>, Southeast Asia's biggest ride-hailing and food delivery firm,lists&nbsp;on Nasdaq on Thursday following its $40 billion merger with special-purpose acquisition company (SPAC) <a href=\"https://laohu8.com/S/AGC\">Altimeter Growth Corp</a>.</p><p><blockquote><a href=\"https://laohu8.com/S/GRAB\">抓住</a>东南亚最大的网约车和食品配送公司在以400亿美元与特殊目的收购公司(SPAC)合并后于周四在纳斯达克上市<a href=\"https://laohu8.com/S/AGC\">高度计增长公司</a>.</blockquote></p><p> The deal is the world's biggest ever by a blank-check company and the biggest U.S. listing by a Southeast Asian firm.</p><p><blockquote>这笔交易是全球有史以来最大的空白支票公司交易，也是东南亚公司在美国最大的上市交易。</blockquote></p><p> <b>WHAT IS GRAB?</b></p><p><blockquote><b>什么是GRAB？</b></blockquote></p><p> Founded in 2012, Grab is Southeast Asia's largest startup, valued at just over $16 billion last year. It launched as a Malaysian taxi-hailing service and now calls itself a \"superapp\" after expanding into food, grocery and parcel delivery and to digital payments, lending and other financial services.</p><p><blockquote>Grab成立于2012年，是东南亚最大的初创公司，去年估值略高于160亿美元。它最初是马来西亚的出租车服务，现在评级本身已经成为一个“超级应用程序”，后来扩展到食品、杂货和包裹递送以及数字支付、贷款和其他金融服务。</blockquote></p><p> Singapore-headquartered Grab operates across 465 cities in eight countries in the region, counting Indonesia as its biggest. Its venture with Singapore Telecommunications Ltd(STEL.SI)was awarded a digital bank license in Singapore last year.</p><p><blockquote>总部位于新加坡的Grab在该地区8个国家的465个城市开展业务，其中印度尼西亚是最大的城市。其与新加坡电信有限公司（STEL.SI）的合资企业去年在新加坡获得了数字银行牌照。</blockquote></p><p> Grab gained the global spotlight in 2018 when it bought the Southeast Asian business of Uber Technologies Inc(UBER.N)in return for the U.S. ride-hailing company taking a stake in Grab.</p><p><blockquote>Grab在2018年收购了Uber Technologies Inc(UBER.N)的东南亚业务，成为全球关注的焦点，以换取美国网约车公司入股Grab。</blockquote></p><p> With some 8,000 employees, Grab has tech centres in Singapore, Beijing, Seattle, Bengaluru and other places.</p><p><blockquote>Grab拥有约8000名员工，在新加坡、北京、西雅图、孟加拉鲁鲁等地设有技术中心。</blockquote></p><p> <b>WHO'S BACKING GRAB?</b></p><p><blockquote><b>世卫组织的后盾？</b></blockquote></p><p> Early investors include Japan's SoftBank, China's Didi Chuxing and venture capital firms Vertex Ventures Holdings and GGV Capital.</p><p><blockquote>早期投资者包括日本软银、中国滴滴出行以及风险投资公司Vertex Ventures Holdings和GGV Capital。</blockquote></p><p> Grab raised about $12 billion ahead of the listing. Investors range from venture and hedge funds to automobile companies and other ride-hailing firms, and include:</p><p><blockquote>Grab在上市前筹集了约120亿美元。投资者范围从风险投资和对冲基金到汽车公司和其他网约车公司，包括：</blockquote></p><p> Uber, Booking Holdings Inc, China Investment Corp, Coatue Management, Hillhouse Capital, Hyundai Motor Co, Invesco Ltd, Microsoft Corp, Ping An Capital Co, Toyota Motor Corp, and Yamaha Motor Co..</p><p><blockquote>优步、Booking Holdings Inc、中国投资公司、Coatue Management、高瓴资本、现代汽车公司、景顺有限公司、微软公司、平安资本公司、丰田汽车公司和雅马哈汽车公司..</blockquote></p><p> In the SPAC deal, about three dozen investors came on board including Temasek Holdings, BlackRock, Fidelity International, Abu Dhabi's Mubadala and Malaysia's Permodalan Nasional Bhd and Altimeter Capital.</p><p><blockquote>在SPAC交易中，大约有三打投资者加入，包括淡马锡控股、贝莱德、富达国际、阿布扎比的穆巴达拉、马来西亚的Permodalan Nasional Bhd和Altimeter Capital。</blockquote></p><p> <b>WHO'S THE COMPETITION?</b></p><p><blockquote><b>世卫组织是竞争对手？</b></blockquote></p><p> GoTo Group, formed by the merger of Indonesian ride-hailing and deliveries firm Gojek and local e-commerce leader Tokopedia is Grab's biggest competitor.</p><p><blockquote>GoTo Group由印度尼西亚叫车和送货公司Gojek和当地电子商务领导者Tokopedia合并而成，是Grab最大的竞争对手。</blockquote></p><p> Singapore-based Sea Ltd, which has e-commerce, gaming and a digital payments business, and is also muscling into food delivery and financial services in Indonesia. Sea has also won a digital bank license in Singapore.</p><p><blockquote>总部位于新加坡的Sea Ltd拥有电子商务、游戏和数字支付业务，还在印度尼西亚大力进军食品配送和金融服务领域。Sea还获得了新加坡的数字银行牌照。</blockquote></p><p> Grab is likely to increasingly start competing with banks as it expands its financial services.</p><p><blockquote>随着Grab扩大其金融服务，它可能会越来越多地开始与银行竞争。</blockquote></p><p> It also competes with such delivery companies as Foodpanda and Deliveroo PLC.</p><p><blockquote>它还与Foodpanda和户户送等快递公司竞争。</blockquote></p><p> <b>WHAT ARE GRAB'S FINANCIALS?</b></p><p><blockquote><b>GRAB的财务状况如何？</b></blockquote></p><p> Grab's third-quarter revenue fell 9% from a year earlier to $157 million. Its adjusted loss before interest, taxes, depreciation and amortization (EBITDA) widened 66% to $212 million. Gross merchandise value hit a quarterly record of $4 billion.</p><p><blockquote>Grab第三季度营收同比下降9%至1.57亿美元。其调整后的息税折旧摊销前亏损(EBITDA)扩大66%至2.12亿美元。商品总值创下40亿美元的季度纪录。</blockquote></p><p> The delivery business has emerged as the biggest segment as more consumers shifted to online food delivery during the pandemic.</p><p><blockquote>随着越来越多的消费者在疫情期间转向在线食品配送，配送业务已成为最大的细分市场。</blockquote></p><p> Grab forecasts it will turn profitable on an EBITDA basis in 2023.</p><p><blockquote>Grab预测其将于2023年在EBITDA基础上实现盈利。</blockquote></p><p> <b>WHO ARE ITS KEY EXECUTIVES?</b></p><p><blockquote><b>世卫组织是其主要高管？</b></blockquote></p><p> Anthony Tan, 39, is the company's CEO and co-founder.</p><p><blockquote>39岁的Anthony Tan是该公司的首席执行官兼联合创始人。</blockquote></p><p> Fellow co-founder Tan Hooi Ling, 38, runs Grab's operations, including corporate strategy and technology.</p><p><blockquote>38岁的联合创始人Tan Hooi Ling负责Grab的运营，包括企业战略和技术。</blockquote></p><p> Both Tans, unrelated, met at Harvard Business School, where they conceived the idea of the ride-hailing company.</p><p><blockquote>这两个没有血缘关系的人在哈佛商学院相遇，在那里他们构思了这家叫车公司的想法。</blockquote></p><p> Grab's president, Ming Maa, is a prominent dealmaker from SoftBank, who joined the company in 2016.</p><p><blockquote>Grab总裁Ming Maa是软银的著名交易撮合者，于2016年加入该公司。</blockquote></p><p> <b>Here are some milestones for the Singapore-headquartered company:</b></p><p><blockquote><b>以下是这家总部位于新加坡的公司的一些里程碑：</b></blockquote></p><p> 2011: Anthony Tan and co-founder Tan Hooi Ling create Grab in a Harvard Business School venture competition plan</p><p><blockquote>2011年：Anthony Tan和联合创始人Tan Hooi Ling在哈佛商学院创业竞赛计划中创建Grab</blockquote></p><p> 2012: Launches as MyTeksi taxi booking service in Malaysia</p><p><blockquote>2012年：在马来西亚推出MyTeksi出租车预订服务</blockquote></p><p> 2013: Expands to the Philippines, Thailand, Singapore as GrabTaxi</p><p><blockquote>2013年：作为GrabTaxi扩展到菲律宾、泰国、新加坡</blockquote></p><p> April 2014: Announces Series A funding</p><p><blockquote>2014年4月：宣布A轮融资</blockquote></p><p> June 2014: Launches in Indonesia</p><p><blockquote>2014年6月：在印度尼西亚推出</blockquote></p><p> December 2014: Japan's SoftBank&nbsp;invests $250 million in a funding round</p><p><blockquote>2014年12月：日本软银在一轮融资中投资2.5亿美元</blockquote></p><p> August 2015: Becomes a unicorn after $350 million funding round</p><p><blockquote>2015年8月：3.5亿美元融资后成为独角兽</blockquote></p><p> December 2015: Announces a strategic partnership with other ride-hailing companies Ola, Didi, and Lyft that competed against Uber</p><p><blockquote>2015年12月：宣布与其他与Uber竞争的网约车公司Ola、滴滴和Lyft建立战略合作伙伴关系</blockquote></p><p> January 2016: Rebrands to Grab from GrabTaxi to reflect expanding services</p><p><blockquote>2016年1月：从GrabTaxi更名为Grab，以反映不断扩大的服务</blockquote></p><p> November 2017: Launches GrabPay payments service for third-party transactions</p><p><blockquote>2017年11月：推出GrabPay第三方交易支付服务</blockquote></p><p> March 2018: Announces acquisition of Uber's business in Southeast Asia through an all-share deal, Uber becomes a strategic shareholder</p><p><blockquote>2018年3月：宣布通过全股交易收购Uber东南亚业务，Uber成为战略股东</blockquote></p><p> May 2018: Pilots GrabFood delivery service</p><p><blockquote>2018年5月：试点GrabFood配送服务</blockquote></p><p> July 2018: Unveils \"superapp\" strategy that provides a range of services under one platform</p><p><blockquote>2018年7月：推出“superapp”战略，在一个平台下提供一系列服务</blockquote></p><p> March 2019: Reaches valuation of about $14 billion</p><p><blockquote>2019年3月：估值达到约140亿美元</blockquote></p><p></p><p> December 2020: Wins digital full bank license in Singapore in a partnership with Singapore Telecommunications Ltd</p><p><blockquote>2020年12月：与新加坡电信有限公司合作，在新加坡获得数字全面银行牌照</blockquote></p><p> April 2021: Agrees to list on Nasdaq through a merger with special-purpose acquisition company Altimeter Growth Corp&nbsp;securing a valuation of nearly $40 billion</p><p><blockquote>2021年4月：同意通过与特殊目的收购公司Altimeter Growth Corp合并在纳斯达克上市，估值近400亿美元</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GRAB":"Grab Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122539371","content_text":"Singapore ride-hailing firm Grab spikes 18% on its first day of trading.\n\nGrab, Southeast Asia's biggest ride-hailing and food delivery firm,lists on Nasdaq on Thursday following its $40 billion merger with special-purpose acquisition company (SPAC) Altimeter Growth Corp.\nThe deal is the world's biggest ever by a blank-check company and the biggest U.S. listing by a Southeast Asian firm.\nWHAT IS GRAB?\nFounded in 2012, Grab is Southeast Asia's largest startup, valued at just over $16 billion last year. It launched as a Malaysian taxi-hailing service and now calls itself a \"superapp\" after expanding into food, grocery and parcel delivery and to digital payments, lending and other financial services.\nSingapore-headquartered Grab operates across 465 cities in eight countries in the region, counting Indonesia as its biggest. Its venture with Singapore Telecommunications Ltd(STEL.SI)was awarded a digital bank license in Singapore last year.\nGrab gained the global spotlight in 2018 when it bought the Southeast Asian business of Uber Technologies Inc(UBER.N)in return for the U.S. ride-hailing company taking a stake in Grab.\nWith some 8,000 employees, Grab has tech centres in Singapore, Beijing, Seattle, Bengaluru and other places.\nWHO'S BACKING GRAB?\nEarly investors include Japan's SoftBank, China's Didi Chuxing and venture capital firms Vertex Ventures Holdings and GGV Capital.\nGrab raised about $12 billion ahead of the listing. Investors range from venture and hedge funds to automobile companies and other ride-hailing firms, and include:\nUber, Booking Holdings Inc, China Investment Corp, Coatue Management, Hillhouse Capital, Hyundai Motor Co, Invesco Ltd, Microsoft Corp, Ping An Capital Co, Toyota Motor Corp, and Yamaha Motor Co..\nIn the SPAC deal, about three dozen investors came on board including Temasek Holdings, BlackRock, Fidelity International, Abu Dhabi's Mubadala and Malaysia's Permodalan Nasional Bhd and Altimeter Capital.\nWHO'S THE COMPETITION?\nGoTo Group, formed by the merger of Indonesian ride-hailing and deliveries firm Gojek and local e-commerce leader Tokopedia is Grab's biggest competitor.\nSingapore-based Sea Ltd, which has e-commerce, gaming and a digital payments business, and is also muscling into food delivery and financial services in Indonesia. Sea has also won a digital bank license in Singapore.\nGrab is likely to increasingly start competing with banks as it expands its financial services.\nIt also competes with such delivery companies as Foodpanda and Deliveroo PLC.\nWHAT ARE GRAB'S FINANCIALS?\nGrab's third-quarter revenue fell 9% from a year earlier to $157 million. Its adjusted loss before interest, taxes, depreciation and amortization (EBITDA) widened 66% to $212 million. Gross merchandise value hit a quarterly record of $4 billion.\nThe delivery business has emerged as the biggest segment as more consumers shifted to online food delivery during the pandemic.\nGrab forecasts it will turn profitable on an EBITDA basis in 2023.\nWHO ARE ITS KEY EXECUTIVES?\nAnthony Tan, 39, is the company's CEO and co-founder.\nFellow co-founder Tan Hooi Ling, 38, runs Grab's operations, including corporate strategy and technology.\nBoth Tans, unrelated, met at Harvard Business School, where they conceived the idea of the ride-hailing company.\nGrab's president, Ming Maa, is a prominent dealmaker from SoftBank, who joined the company in 2016.\nHere are some milestones for the Singapore-headquartered company:\n2011: Anthony Tan and co-founder Tan Hooi Ling create Grab in a Harvard Business School venture competition plan\n2012: Launches as MyTeksi taxi booking service in Malaysia\n2013: Expands to the Philippines, Thailand, Singapore as GrabTaxi\nApril 2014: Announces Series A funding\nJune 2014: Launches in Indonesia\nDecember 2014: Japan's SoftBank invests $250 million in a funding round\nAugust 2015: Becomes a unicorn after $350 million funding round\nDecember 2015: Announces a strategic partnership with other ride-hailing companies Ola, Didi, and Lyft that competed against Uber\nJanuary 2016: Rebrands to Grab from GrabTaxi to reflect expanding services\nNovember 2017: Launches GrabPay payments service for third-party transactions\nMarch 2018: Announces acquisition of Uber's business in Southeast Asia through an all-share deal, Uber becomes a strategic shareholder\nMay 2018: Pilots GrabFood delivery service\nJuly 2018: Unveils \"superapp\" strategy that provides a range of services under one platform\nMarch 2019: Reaches valuation of about $14 billion\nDecember 2020: Wins digital full bank license in Singapore in a partnership with Singapore Telecommunications Ltd\nApril 2021: Agrees to list on Nasdaq through a merger with special-purpose acquisition company Altimeter Growth Corp securing a valuation of nearly $40 billion","news_type":1,"symbols_score_info":{"GRAB":0.9}},"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":609338531,"gmtCreate":1638237538741,"gmtModify":1638237547004,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Dip was on fri","listText":"Dip was on fri","text":"Dip was on fri","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/609338531","repostId":"2187505305","repostType":4,"repost":{"id":"2187505305","kind":"news","pubTimestamp":1638236834,"share":"https://www.laohu8.com/m/news/2187505305?lang=zh_CN&edition=full","pubTime":"2021-11-30 09:47","market":"us","language":"en","title":"Omicron stock market rout doesn't mean stocks are a 'screaming' buy: strategist<blockquote>策略师：奥密克戎股市暴跌并不意味着股票是“尖叫”买入</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2187505305","media":"Yahoo Finance","summary":"Don't back up the truck just yet on stocks even in the wake of Friday's brutal Omicron variant fuele","content":"<p><div> Don't back up the truck just yet on stocks even in the wake of Friday's brutal Omicron variant fueled sell-off, warns one long-time strategist. \"I just don't think we hit the level on the S&P 500 ...</p><p><blockquote><div>一位长期策略师警告说，即使在周五残酷的奥密克戎变种引发抛售之后，也不要支持股票。“我只是不认为我们达到了标普500的水平...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/omicron-stock-market-rout-doesnt-mean-stocks-are-a-screaming-buy-strategist-192814731.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/omicron-stock-market-rout-doesnt-mean-stocks-are-a-screaming-buy-strategist-192814731.html\">网页连接</a></blockquote></p><p></p>","source":"yahoofinance_au","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>Omicron stock market rout doesn't mean stocks are a 'screaming' buy: strategist<blockquote>策略师：奥密克戎股市暴跌并不意味着股票是“尖叫”买入</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\">\nOmicron stock market rout doesn't mean stocks are a 'screaming' buy: strategist<blockquote>策略师：奥密克戎股市暴跌并不意味着股票是“尖叫”买入</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo Finance</strong><span class=\"h-time small\">2021-11-30 09:47</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Don't back up the truck just yet on stocks even in the wake of Friday's brutal Omicron variant fueled sell-off, warns one long-time strategist. \"I just don't think we hit the level on the S&P 500 ...</p><p><blockquote><div>一位长期策略师警告说，即使在周五残酷的奥密克戎变种引发抛售之后，也不要支持股票。“我只是不认为我们达到了标普500的水平...</div></blockquote></p><p>  <a href=\"https://finance.yahoo.com/news/omicron-stock-market-rout-doesnt-mean-stocks-are-a-screaming-buy-strategist-192814731.html\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://finance.yahoo.com/news/omicron-stock-market-rout-doesnt-mean-stocks-are-a-screaming-buy-strategist-192814731.html\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/omicron-stock-market-rout-doesnt-mean-stocks-are-a-screaming-buy-strategist-192814731.html\">Yahoo Finance</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":{"SPY.AU":"SPDR® S&P 500® ETF Trust","MRNA":"Moderna, Inc.","PFE":"辉瑞"},"source_url":"https://finance.yahoo.com/news/omicron-stock-market-rout-doesnt-mean-stocks-are-a-screaming-buy-strategist-192814731.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2187505305","content_text":"Don't back up the truck just yet on stocks even in the wake of Friday's brutal Omicron variant fueled sell-off, warns one long-time strategist.\n\"I just don't think we hit the level on the S&P 500 where I am willing to say this is a screaming buying opportunity right now,\" said iCapital Network chief investment strategist Anastasia Amoroso on Yahoo Finance Live. \"We don't see that from the oversold technical levels and also we have another potentially negative catalyst here which is the Federal Reserve. If Omicron is not an issue, but the Fed starts to react to higher inflation, we would have a hawkish Fed pivot. So I think we need to maybe put a pause on the Santa rally expectations, and look for pockets of opportunity, which I do see a few.\"\nAmoroso thinks those pockets of opportunity exist in the biotech space as traders are reminded the pandemic is far from over. Oil stocks also look oversold, Amoroso thinks.\nTraders nibbled at stocks on Monday after the Dow Jones Industrial Average cratered more than 1,000 points the day after Thanksgiving. The violent sell-off transpired as reports of the Omicron variant spreading to more countries — leading to a host of new travel bans — surfaced. Concerns mounted on the effectiveness of COVID-19 vaccines from Moderna, Pfizer and Johnson & Johnson against Omicron and other potential mutations.\nThe CBOE Volatility Index (VIX) — aka Wall Street's measurement of fear in the markets — shot higher by 54% on the session. That marked the the fourth greatest one-day percentage rise for the VIX since 1990, according to data from Truist.\nTravel stocks like Delta and Hilton were pummeled, while traders rotated into work-from-home names such as Zoom on a view office returns would be pushed out again.\nReopening plays in the travel space saw tepid buying interest on Monday as traders awaited another potential shoe to drop on the Omicron front. The VIX — while down 22% on Monday's session — hovered around levels last seen in September during the inflation-fears driven market sell-off.\nThat said, some strategists are staying with their buy the dip mentality post Friday's drubbing. History suggests that is the right course of action, however painful the short-term may be for the markets.\n\"The evidence suggests selling on the type of fear seen on Friday has often been the wrong decision, at least longer term. Indeed, when we look at the previous instances when the VIX spiked more than 40% in one day, stocks were higher 18 out of 19 times a year later, with an average gain of 20%,\" said Keith Lerner, Truist co-chief investment officer, in a research note to clients.","news_type":1,"symbols_score_info":{"MRNA":0.9,"SPY.AU":0.9,"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":633,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":373184479,"gmtCreate":1618831948691,"gmtModify":1634290561731,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"LnC pls","listText":"LnC pls","text":"LnC pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/373184479","repostId":"2128525488","repostType":4,"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":828162965,"gmtCreate":1633868895296,"gmtModify":1633868895384,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/828162965","repostId":"2174920514","repostType":4,"isVote":1,"tweetType":1,"viewCount":461,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":183996982,"gmtCreate":1623298691346,"gmtModify":1634034819543,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/183996982","repostId":"1142408805","repostType":4,"repost":{"id":"1142408805","kind":"news","pubTimestamp":1623280126,"share":"https://www.laohu8.com/m/news/1142408805?lang=zh_CN&edition=full","pubTime":"2021-06-10 07:08","market":"us","language":"en","title":"U.S. stocks end lower ahead of inflation report<blockquote>美股在通胀报告公布前收低</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1142408805","media":"reuters","summary":"NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants a","content":"<p>NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.</p><p><blockquote>纽约（路透社）-华尔街周三收盘走低，市场参与者等待通胀数据，以寻找美联储何时可能收紧鸽派货币政策的线索。</blockquote></p><p> The retail “meme stock” craze continued unabated.</p><p><blockquote>零售“模因股”热潮不减。</blockquote></p><p> All three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts.</p><p><blockquote>美国三大股指均扭转稍早涨势，但在缺乏任何明显市场催化剂的情况下仍维持区间震荡。</blockquote></p><p> “There’s a lull period in terms of news,” said Chuck Carlson, chief executive at Horizon Investment Services in Hammond, Indiana. “We’re through earnings period and people are waiting for inflation numbers tomorrow, so you have a mixed market where the major averages aren’t doing much of anything.”</p><p><blockquote>印第安纳州哈蒙德地平线投资服务公司首席执行官查克·卡尔森表示：“新闻方面有一段平静期。”“我们已经过了财报期，人们正在等待明天的通胀数据，因此市场好坏参半，主要股指没有采取太多行动。”</blockquote></p><p> Heavily shorted meme stocks extended their social media-driven rally, with Aethlon Medical soaring 388.2%.</p><p><blockquote>严重做空的meme股票延续了社交媒体推动的涨势，Aethlon Medical飙升388.2%。</blockquote></p><p> Reddit chatter also helped to lift shares of prison operator GEO Group and World Wrestling Entertainment 38.4% and 10.9%, respectively.</p><p><blockquote>Reddit聊天还帮助监狱运营商GEO Group和World Wrestling Entertainment的股价分别上涨38.4%和10.9%。</blockquote></p><p> However, other meme stocks such as Clover Health, AMC Entertainment and Bed Bath &amp; Beyond closed lower.</p><p><blockquote>然而，Clover Health、AMC院线和Bed Bath&amp;Beyond等其他模因股票收盘走低。</blockquote></p><p> Retail volume has returned to its January peak, according to Vanda Research, as social media forums scramble to identify the next GameStop Corp, the stock that kicked off the phenomenon.</p><p><blockquote>Vanda Research的数据显示，随着社交媒体论坛争先恐后地寻找下一个游戏驿站公司，即引发这一现象的股票，零售额已回到一月份的峰值。</blockquote></p><p> “It feels like alternative stock market,” Carlson added. It’s an indication of speculation. You can be successful if you get in at the right moment but it’s very difficult to play successfully over time.”</p><p><blockquote>“这感觉就像另类股票市场，”卡尔森补充道。这是猜测的迹象。如果你在正确的时间进入，你就可以成功，但随着时间的推移，很难成功地发挥作用。”</blockquote></p><p> “I don’t think you should read too much regarding the broader market.”</p><p><blockquote>“我认为你不应该阅读太多关于大盘的信息。”</blockquote></p><p> GameStop named Matt Furlong as its new CEO ahead of its earnings report, which showed a quarterly loss of $1.01 per share. Its shares fell over 4% in after-hours trading.</p><p><blockquote>游戏驿站在发布财报之前任命马特·弗隆为新任首席执行官，财报显示季度亏损为每股1.01美元。其股价在盘后交易中下跌超过4%。</blockquote></p><p> U.S. President Joe Biden changed course in ongoing negotiations to reach a bipartisan agreement on infrastructure spending after one-on-one talks with Senator Shelley Capito broke down.</p><p><blockquote>在与参议员雪莱·卡皮托的一对一会谈破裂后，美国总统乔·拜登在正在进行的谈判中改变了路线，以就基础设施支出达成两党协议。</blockquote></p><p> Industrial stocks, which stand to benefit from an infrastructure deal, slid by 1%.</p><p><blockquote>将从基础设施交易中受益的工业股下跌1%。</blockquote></p><p> Washington lawmakers passed a sweeping bill designed to boost the United States’ ability to compete against Chinese technology, providing funds for research and semiconductor production amid an ongoing chip supply drought. The bill now heads to the House of Representatives.</p><p><blockquote>华盛顿立法者通过了一项全面的法案，旨在提高美国与中国技术竞争的能力，在持续的芯片供应干旱的情况下为研究和半导体生产提供资金。该法案现已提交众议院。</blockquote></p><p> Even so, the Philadelphia SE Semiconductor index slipped 0.4%.</p><p><blockquote>即便如此，费城SE半导体指数仍下跌0.4%。</blockquote></p><p> The Labor Department’s consumer price index report due out Thursday will provide another take on inflation amid the recovery’s demand/supply imbalance as investors determine whether inflationary pressures, as the Fed asserts, will be transitory.</p><p><blockquote>美国劳工部将于周四发布的消费者价格指数报告将在复苏的供需失衡中提供对通胀的另一种看法，因为投资者将确定通胀压力是否如美联储所称的那样是暂时的。</blockquote></p><p> The Dow Jones Industrial Average fell 152.68 points, or 0.44%, to 34,447.14; the S&amp;P 500 lost 7.71 points, or 0.18%, at 4,219.55; and the Nasdaq Composite dropped 13.16 points, or 0.09%, to 13,911.75.</p><p><blockquote>道琼工业指数跌152.68点，或0.44%，报34447.14点；标普500下跌7.71点，或0.18%，报4,219.55点；纳斯达克综合指数下跌13.16点，跌幅0.09%，至13,911.75点。</blockquote></p><p> Among the 11 major sectors in the S&amp;P 500, healthcare gained the most.</p><p><blockquote>标普500 11大板块中，医疗保健涨幅最大。</blockquote></p><p> Benchmark Treasury yields dropped below 1.5% for the first time since May, weighing on interest-sensitive financials.</p><p><blockquote>基准美国国债收益率自5月以来首次跌破1.5%，令对利率敏感的金融股承压。</blockquote></p><p> Campbell Soup Co missed quarterly profit expectations and slashed its full-year earnings forecast, sending its shares down 6.5%.</p><p><blockquote>金宝汤公司未达到季度利润预期，并下调了全年盈利预期，导致其股价下跌6.5%。</blockquote></p><p> Drugmaker Merck &amp; Co rose 2.3% on the heels of its announcement the U.S. government had agreed to buy about 1.7 million courses of the company’s experimental COVID-19 treatment, molnupiravir, for about $1.2 billion, if the drug meets regulatory approval.</p><p><blockquote>制药商默克公司股价上涨2.3%，此前该公司宣布，如果该药物获得监管部门批准，美国政府已同意以约12亿美元的价格购买该公司约170万个疗程的实验性COVID-19治疗药物molnupiravir。</blockquote></p><p> Declining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为1.12比1；在纳斯达克，1.13比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted 38 new 52-week highs and two new lows; the Nasdaq Composite recorded 126 new highs and 14 new lows.</p><p><blockquote>标普500创下38个52周新高和两个新低；纳斯达克综合指数录得126个新高和14个新低。</blockquote></p><p> Volume on U.S. exchanges was 11.53 billion shares, compared with the 10.74 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为115.3亿股，而过去20个交易日的平均成交量为107.4亿股。</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>U.S. stocks end lower ahead of inflation report<blockquote>美股在通胀报告公布前收低</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\">\nU.S. stocks end lower ahead of inflation report<blockquote>美股在通胀报告公布前收低</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-06-10 07:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.</p><p><blockquote>纽约（路透社）-华尔街周三收盘走低，市场参与者等待通胀数据，以寻找美联储何时可能收紧鸽派货币政策的线索。</blockquote></p><p> The retail “meme stock” craze continued unabated.</p><p><blockquote>零售“模因股”热潮不减。</blockquote></p><p> All three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts.</p><p><blockquote>美国三大股指均扭转稍早涨势，但在缺乏任何明显市场催化剂的情况下仍维持区间震荡。</blockquote></p><p> “There’s a lull period in terms of news,” said Chuck Carlson, chief executive at Horizon Investment Services in Hammond, Indiana. “We’re through earnings period and people are waiting for inflation numbers tomorrow, so you have a mixed market where the major averages aren’t doing much of anything.”</p><p><blockquote>印第安纳州哈蒙德地平线投资服务公司首席执行官查克·卡尔森表示：“新闻方面有一段平静期。”“我们已经过了财报期，人们正在等待明天的通胀数据，因此市场好坏参半，主要股指没有采取太多行动。”</blockquote></p><p> Heavily shorted meme stocks extended their social media-driven rally, with Aethlon Medical soaring 388.2%.</p><p><blockquote>严重做空的meme股票延续了社交媒体推动的涨势，Aethlon Medical飙升388.2%。</blockquote></p><p> Reddit chatter also helped to lift shares of prison operator GEO Group and World Wrestling Entertainment 38.4% and 10.9%, respectively.</p><p><blockquote>Reddit聊天还帮助监狱运营商GEO Group和World Wrestling Entertainment的股价分别上涨38.4%和10.9%。</blockquote></p><p> However, other meme stocks such as Clover Health, AMC Entertainment and Bed Bath &amp; Beyond closed lower.</p><p><blockquote>然而，Clover Health、AMC院线和Bed Bath&amp;Beyond等其他模因股票收盘走低。</blockquote></p><p> Retail volume has returned to its January peak, according to Vanda Research, as social media forums scramble to identify the next GameStop Corp, the stock that kicked off the phenomenon.</p><p><blockquote>Vanda Research的数据显示，随着社交媒体论坛争先恐后地寻找下一个游戏驿站公司，即引发这一现象的股票，零售额已回到一月份的峰值。</blockquote></p><p> “It feels like alternative stock market,” Carlson added. It’s an indication of speculation. You can be successful if you get in at the right moment but it’s very difficult to play successfully over time.”</p><p><blockquote>“这感觉就像另类股票市场，”卡尔森补充道。这是猜测的迹象。如果你在正确的时间进入，你就可以成功，但随着时间的推移，很难成功地发挥作用。”</blockquote></p><p> “I don’t think you should read too much regarding the broader market.”</p><p><blockquote>“我认为你不应该阅读太多关于大盘的信息。”</blockquote></p><p> GameStop named Matt Furlong as its new CEO ahead of its earnings report, which showed a quarterly loss of $1.01 per share. Its shares fell over 4% in after-hours trading.</p><p><blockquote>游戏驿站在发布财报之前任命马特·弗隆为新任首席执行官，财报显示季度亏损为每股1.01美元。其股价在盘后交易中下跌超过4%。</blockquote></p><p> U.S. President Joe Biden changed course in ongoing negotiations to reach a bipartisan agreement on infrastructure spending after one-on-one talks with Senator Shelley Capito broke down.</p><p><blockquote>在与参议员雪莱·卡皮托的一对一会谈破裂后，美国总统乔·拜登在正在进行的谈判中改变了路线，以就基础设施支出达成两党协议。</blockquote></p><p> Industrial stocks, which stand to benefit from an infrastructure deal, slid by 1%.</p><p><blockquote>将从基础设施交易中受益的工业股下跌1%。</blockquote></p><p> Washington lawmakers passed a sweeping bill designed to boost the United States’ ability to compete against Chinese technology, providing funds for research and semiconductor production amid an ongoing chip supply drought. The bill now heads to the House of Representatives.</p><p><blockquote>华盛顿立法者通过了一项全面的法案，旨在提高美国与中国技术竞争的能力，在持续的芯片供应干旱的情况下为研究和半导体生产提供资金。该法案现已提交众议院。</blockquote></p><p> Even so, the Philadelphia SE Semiconductor index slipped 0.4%.</p><p><blockquote>即便如此，费城SE半导体指数仍下跌0.4%。</blockquote></p><p> The Labor Department’s consumer price index report due out Thursday will provide another take on inflation amid the recovery’s demand/supply imbalance as investors determine whether inflationary pressures, as the Fed asserts, will be transitory.</p><p><blockquote>美国劳工部将于周四发布的消费者价格指数报告将在复苏的供需失衡中提供对通胀的另一种看法，因为投资者将确定通胀压力是否如美联储所称的那样是暂时的。</blockquote></p><p> The Dow Jones Industrial Average fell 152.68 points, or 0.44%, to 34,447.14; the S&amp;P 500 lost 7.71 points, or 0.18%, at 4,219.55; and the Nasdaq Composite dropped 13.16 points, or 0.09%, to 13,911.75.</p><p><blockquote>道琼工业指数跌152.68点，或0.44%，报34447.14点；标普500下跌7.71点，或0.18%，报4,219.55点；纳斯达克综合指数下跌13.16点，跌幅0.09%，至13,911.75点。</blockquote></p><p> Among the 11 major sectors in the S&amp;P 500, healthcare gained the most.</p><p><blockquote>标普500 11大板块中，医疗保健涨幅最大。</blockquote></p><p> Benchmark Treasury yields dropped below 1.5% for the first time since May, weighing on interest-sensitive financials.</p><p><blockquote>基准美国国债收益率自5月以来首次跌破1.5%，令对利率敏感的金融股承压。</blockquote></p><p> Campbell Soup Co missed quarterly profit expectations and slashed its full-year earnings forecast, sending its shares down 6.5%.</p><p><blockquote>金宝汤公司未达到季度利润预期，并下调了全年盈利预期，导致其股价下跌6.5%。</blockquote></p><p> Drugmaker Merck &amp; Co rose 2.3% on the heels of its announcement the U.S. government had agreed to buy about 1.7 million courses of the company’s experimental COVID-19 treatment, molnupiravir, for about $1.2 billion, if the drug meets regulatory approval.</p><p><blockquote>制药商默克公司股价上涨2.3%，此前该公司宣布，如果该药物获得监管部门批准，美国政府已同意以约12亿美元的价格购买该公司约170万个疗程的实验性COVID-19治疗药物molnupiravir。</blockquote></p><p> Declining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored decliners.</p><p><blockquote>纽约证券交易所下跌股与上涨股的比例为1.12比1；在纳斯达克，1.13比1的比率有利于下跌股。</blockquote></p><p> The S&amp;P 500 posted 38 new 52-week highs and two new lows; the Nasdaq Composite recorded 126 new highs and 14 new lows.</p><p><blockquote>标普500创下38个52周新高和两个新低；纳斯达克综合指数录得126个新高和14个新低。</blockquote></p><p> Volume on U.S. exchanges was 11.53 billion shares, compared with the 10.74 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为115.3亿股，而过去20个交易日的平均成交量为107.4亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-end-lower-ahead-of-inflation-report-idUSL2N2NR2UG\">reuters</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":{".IXIC":"NASDAQ Composite","AEMD":"Aethlon Medical Inc",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-u-s-stocks-end-lower-ahead-of-inflation-report-idUSL2N2NR2UG","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142408805","content_text":"NEW YORK (Reuters) - Wall Street ended a see-saw session lower on Wednesday as market participants awaited inflation data for clues as to when the U.S. Federal Reserve might tighten its dovish monetary policy.\nThe retail “meme stock” craze continued unabated.\nAll three major U.S. stock indexes reversed earlier gains, but remained range-bound in the absence of any clear market catalysts.\n“There’s a lull period in terms of news,” said Chuck Carlson, chief executive at Horizon Investment Services in Hammond, Indiana. “We’re through earnings period and people are waiting for inflation numbers tomorrow, so you have a mixed market where the major averages aren’t doing much of anything.”\nHeavily shorted meme stocks extended their social media-driven rally, with Aethlon Medical soaring 388.2%.\nReddit chatter also helped to lift shares of prison operator GEO Group and World Wrestling Entertainment 38.4% and 10.9%, respectively.\nHowever, other meme stocks such as Clover Health, AMC Entertainment and Bed Bath & Beyond closed lower.\nRetail volume has returned to its January peak, according to Vanda Research, as social media forums scramble to identify the next GameStop Corp, the stock that kicked off the phenomenon.\n“It feels like alternative stock market,” Carlson added. It’s an indication of speculation. You can be successful if you get in at the right moment but it’s very difficult to play successfully over time.”\n“I don’t think you should read too much regarding the broader market.”\nGameStop named Matt Furlong as its new CEO ahead of its earnings report, which showed a quarterly loss of $1.01 per share. Its shares fell over 4% in after-hours trading.\nU.S. President Joe Biden changed course in ongoing negotiations to reach a bipartisan agreement on infrastructure spending after one-on-one talks with Senator Shelley Capito broke down.\nIndustrial stocks, which stand to benefit from an infrastructure deal, slid by 1%.\nWashington lawmakers passed a sweeping bill designed to boost the United States’ ability to compete against Chinese technology, providing funds for research and semiconductor production amid an ongoing chip supply drought. The bill now heads to the House of Representatives.\nEven so, the Philadelphia SE Semiconductor index slipped 0.4%.\nThe Labor Department’s consumer price index report due out Thursday will provide another take on inflation amid the recovery’s demand/supply imbalance as investors determine whether inflationary pressures, as the Fed asserts, will be transitory.\nThe Dow Jones Industrial Average fell 152.68 points, or 0.44%, to 34,447.14; the S&P 500 lost 7.71 points, or 0.18%, at 4,219.55; and the Nasdaq Composite dropped 13.16 points, or 0.09%, to 13,911.75.\nAmong the 11 major sectors in the S&P 500, healthcare gained the most.\nBenchmark Treasury yields dropped below 1.5% for the first time since May, weighing on interest-sensitive financials.\nCampbell Soup Co missed quarterly profit expectations and slashed its full-year earnings forecast, sending its shares down 6.5%.\nDrugmaker Merck & Co rose 2.3% on the heels of its announcement the U.S. government had agreed to buy about 1.7 million courses of the company’s experimental COVID-19 treatment, molnupiravir, for about $1.2 billion, if the drug meets regulatory approval.\nDeclining issues outnumbered advancers on the NYSE by a 1.12-to-1 ratio; on Nasdaq, a 1.13-to-1 ratio favored decliners.\nThe S&P 500 posted 38 new 52-week highs and two new lows; the Nasdaq Composite recorded 126 new highs and 14 new lows.\nVolume on U.S. exchanges was 11.53 billion shares, compared with the 10.74 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{"AEMD":0.9,".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137482345,"gmtCreate":1622377610587,"gmtModify":1634101938937,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/137482345","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":191,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195563725,"gmtCreate":1621302276867,"gmtModify":1634192632440,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/195563725","repostId":"2136295438","repostType":4,"isVote":1,"tweetType":1,"viewCount":393,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165072075,"gmtCreate":1624083758797,"gmtModify":1634010861483,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/165072075","repostId":"1156696708","repostType":4,"isVote":1,"tweetType":1,"viewCount":417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":119920866,"gmtCreate":1622514252755,"gmtModify":1634100922457,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/119920866","repostId":"1105273964","repostType":4,"repost":{"id":"1105273964","kind":"news","pubTimestamp":1622511256,"share":"https://www.laohu8.com/m/news/1105273964?lang=zh_CN&edition=full","pubTime":"2021-06-01 09:34","market":"us","language":"en","title":"Here Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的11家IPO</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105273964","media":"Barron's","summary":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.That left us with 11 names. First up:CureVac, which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its ","content":"<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p><blockquote>首次公开募股市场最近为那些能够在公司上市前获得股票的投资者带来了一些巨大的首日收益。</blockquote></p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p><blockquote>但并不是每个人都能得到这些类型的机会。大多数散户投资者必须等到公司开始公开交易才能购买股票。<i>巴伦周刊</i>研究了过去12个月内上市的企业，发现了一些表现强劲的企业。</blockquote></p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p><blockquote>首先，我们搜索通过传统首次公开募股上市的公司：这意味着我们过滤掉了与特殊目的收购公司（SPAC）合并的企业。然后，我们搜索了在纽约证券交易所或纳斯达克上市的公司。我们还关注市值至少为10亿美元的实体。我们将搜索范围缩小到股票发行价总回报最高的公司。</blockquote></p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p><blockquote>我们只剩下11个名字了。首先是CureVac（股票代码：CVAC），这是银幕上表现最好的IPO，总回报率为596.75%。CureVac专注于信使RNA或mRNA技术，该技术是几个领先的新冠肺炎疫苗项目的基础。这家德国生物技术公司于8月份以每股16美元的价格上市，首日飙升249%，收于55.90美元。一月份，CureVac与Bayerto达成协议，加速其Covid-19候选疫苗的开发和供应。该公司基于mRNA的新冠疫苗目前正在进行临床试验，预计今年夏天将获得2b/3期数据。自首次公开募股以来，该股几乎翻了一番，周五收于111.48美元。</blockquote></p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p><blockquote>强劲的表现不一定取决于第一天交易的成功。上榜的公司中有四家交易失败，这意味着它们的股价在交易首日就跌破了IPO价格。</blockquote></p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p><blockquote>典型的例子：以星综合航运(ZIM)。这家轻资产航运公司于1月份上市，发行价为15美元，但当天收盘价为11.50美元。然而，到5月19日，以星公布第一季度盈利5.896亿美元（即每股5.35美元）后，其股价已上涨295%。该公司还宣布派发每股2美元的特别现金股息。FactSet的数据显示，以星是过去12个月中表现第二好的IPO，总回报率为209.33%。周五收于46.40美元。</blockquote></p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p><blockquote>另一个例子是Academy Sports&amp;Outdoors(ASO)：该公司于10月份上市，发行价为13美元，公开交易首日收盘价为12.99美元<b>.</b>Academy上市时实现盈利，这在IPO市场上是罕见的。今年3月，该公司报告称，截至1月30日的第四财季净利润飙升416%，达到9150万美元，即每股97美分。自IPO以来，其股价已上涨近两倍，周五交易价格为36.53美元。FactSet表示，Academy Sports排名第三，发行价总回报率为181%。</blockquote></p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p><blockquote>强劲上涨者这些公司均于去年上市，与IPO价格相比，总回报率较高。这一类别的还有Corsair Gaming(CRSR)，一家为游戏玩家生产高性能装备的加州公司，以及总部位于迪拜的Yalla Group(YALA)，该公司生产一款在中东和北非使用的名为Yalla的语音聊天应用程序。在9月份IPO表现不佳后，这两只股票均强劲反弹。</blockquote></p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p><blockquote>一些上榜公司在首次亮相时股价飙升，但此后股价出现回落。尽管如此，这些公司仍在产生收益。</blockquote></p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p><blockquote>考虑一下BigCommerce（BIGC），它提供了一个云电子商务平台，被SkullCandy、Savannah Bee Co和Cleveland Cavaliers等客户使用。BigCommerce于8月上市，发行价为24美元，当天股价飙升201%，收于72.27美元。自IPO以来，由于更广泛的科技股抛售，该股股价已下跌近25%。</blockquote></p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p><blockquote>然而，该公司报告了一些积极的进展，例如2月份的一项交易，该交易将使BigCommerce客户能够直接在沃尔玛市场上销售。它还公布了好于预期的第四季度业绩。根据FactSet的数据，BigCommerce的总回报率接近127%。</blockquote></p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p><p><blockquote>其他公司的股价自上市以来也出现了上涨。Dream Finders Homes(DFH)在高增长市场设计、建造和销售房屋，在1月份以每股13美元的价格首次上市时已经实现盈利。首日股价飙升61%，至20.95美元。3月份房价以2005年以来最快的速度增长，这对房地产股有所帮助。Dream Finders股价自IPO以来已上涨近52%，周五交易价格为31.77美元。Dream Finders的总发行价回报率为144.38%。</blockquote></p><p></p>","source":"lsy1610680873436","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>Here Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的11家IPO</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\">\nHere Are the 11 Best Performing IPOs of the Year<blockquote>以下是今年表现最好的11家IPO</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-06-01 09:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.</p><p><blockquote>首次公开募股市场最近为那些能够在公司上市前获得股票的投资者带来了一些巨大的首日收益。</blockquote></p><p>But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.<i>Barron’s</i>looked at businesses that have gone public in the past 12 months to find some strong performers.</p><p><blockquote>但并不是每个人都能得到这些类型的机会。大多数散户投资者必须等到公司开始公开交易才能购买股票。<i>巴伦周刊</i>研究了过去12个月内上市的企业，发现了一些表现强劲的企业。</blockquote></p><p>First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..</p><p><blockquote>首先，我们搜索通过传统首次公开募股上市的公司：这意味着我们过滤掉了与特殊目的收购公司（SPAC）合并的企业。然后，我们搜索了在纽约证券交易所或纳斯达克上市的公司。我们还关注市值至少为10亿美元的实体。我们将搜索范围缩小到股票发行价总回报最高的公司。</blockquote></p><p>That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .</p><p><blockquote>我们只剩下11个名字了。首先是CureVac（股票代码：CVAC），这是银幕上表现最好的IPO，总回报率为596.75%。CureVac专注于信使RNA或mRNA技术，该技术是几个领先的新冠肺炎疫苗项目的基础。这家德国生物技术公司于8月份以每股16美元的价格上市，首日飙升249%，收于55.90美元。一月份，CureVac与Bayerto达成协议，加速其Covid-19候选疫苗的开发和供应。该公司基于mRNA的新冠疫苗目前正在进行临床试验，预计今年夏天将获得2b/3期数据。自首次公开募股以来，该股几乎翻了一番，周五收于111.48美元。</blockquote></p><p>Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.</p><p><blockquote>强劲的表现不一定取决于第一天交易的成功。上榜的公司中有四家交易失败，这意味着它们的股价在交易首日就跌破了IPO价格。</blockquote></p><p>Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.</p><p><blockquote>典型的例子：以星综合航运(ZIM)。这家轻资产航运公司于1月份上市，发行价为15美元，但当天收盘价为11.50美元。然而，到5月19日，以星公布第一季度盈利5.896亿美元（即每股5.35美元）后，其股价已上涨295%。该公司还宣布派发每股2美元的特别现金股息。FactSet的数据显示，以星是过去12个月中表现第二好的IPO，总回报率为209.33%。周五收于46.40美元。</blockquote></p><p>Another example isAcademy Sports &amp; Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading<b>.</b>Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.</p><p><blockquote>另一个例子是Academy Sports&amp;Outdoors(ASO)：该公司于10月份上市，发行价为13美元，公开交易首日收盘价为12.99美元<b>.</b>Academy上市时实现盈利，这在IPO市场上是罕见的。今年3月，该公司报告称，截至1月30日的第四财季净利润飙升416%，达到9150万美元，即每股97美分。自IPO以来，其股价已上涨近两倍，周五交易价格为36.53美元。FactSet表示，Academy Sports排名第三，发行价总回报率为181%。</blockquote></p><p>Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.<img src=\"https://static.tigerbbs.com/9dedc209ede147958c015d3a586bb587\" tg-width=\"630\" tg-height=\"606\">Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.</p><p><blockquote>强劲上涨者这些公司均于去年上市，与IPO价格相比，总回报率较高。这一类别的还有Corsair Gaming(CRSR)，一家为游戏玩家生产高性能装备的加州公司，以及总部位于迪拜的Yalla Group(YALA)，该公司生产一款在中东和北非使用的名为Yalla的语音聊天应用程序。在9月份IPO表现不佳后，这两只股票均强劲反弹。</blockquote></p><p>Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.</p><p><blockquote>一些上榜公司在首次亮相时股价飙升，但此后股价出现回落。尽管如此，这些公司仍在产生收益。</blockquote></p><p>ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce&nbsp;went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.</p><p><blockquote>考虑一下BigCommerce（BIGC），它提供了一个云电子商务平台，被SkullCandy、Savannah Bee Co和Cleveland Cavaliers等客户使用。BigCommerce于8月上市，发行价为24美元，当天股价飙升201%，收于72.27美元。自IPO以来，由于更广泛的科技股抛售，该股股价已下跌近25%。</blockquote></p><p>The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.</p><p><blockquote>然而，该公司报告了一些积极的进展，例如2月份的一项交易，该交易将使BigCommerce客户能够直接在沃尔玛市场上销售。它还公布了好于预期的第四季度业绩。根据FactSet的数据，BigCommerce的总回报率接近127%。</blockquote></p><p>Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.</p><p><blockquote>其他公司的股价自上市以来也出现了上涨。Dream Finders Homes(DFH)在高增长市场设计、建造和销售房屋，在1月份以每股13美元的价格首次上市时已经实现盈利。首日股价飙升61%，至20.95美元。3月份房价以2005年以来最快的速度增长，这对房地产股有所帮助。Dream Finders股价自IPO以来已上涨近52%，周五交易价格为31.77美元。Dream Finders的总发行价回报率为144.38%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0\">Barron's</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":{},"source_url":"https://www.barrons.com/articles/here-are-the-11-best-performing-ipos-of-the-year-51622472529?mod=hp_DAY_0","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105273964","content_text":"The market for initial public offerings has recently delivered some great first-day gains for investors who were able to get shares before the companies went public.But not everyone receives these types of opportunities. Most retail investors have to wait until companies start publicly trading to buy stock.Barron’slooked at businesses that have gone public in the past 12 months to find some strong performers.First, we searched for companies that listed via a traditional initial public offering: This meant we filtered out businesses that merged withspecial purpose acquisition companies, or SPACs. Then, we searched for companies that went public on either the New York Stock Exchange or the Nasdaq. We also focused on entities that had at least a $1 billion market capitalization. We narrowed our search to companies with the highesttotal returns from their stock offering prices..That left us with 11 names. First up:CureVac(ticker: CVAC), which was the screen’s best-performing IPO and had a total return of 596.75%. CureVac specializes in the messenger RNA, or mRNA, technology that is the basis of several leading Covid-19 vaccine programs. The German biotech company went public inAugust at $16 a shareand soared 249% in its first day, with the stock closing at $55.90. In January, CureVacstruck a deal with Bayerto accelerate the development and supply of its Covid-19 vaccine candidate. The company’s mRNA-based Covid-19 vaccine is now in clinical trials, and Phase2b/3 data is expected this summer. Since its IPO, the stock has nearly doubled, closingFriday at $111.48 .Strong performances need not be dictated by success on the first day of trading. Four of the companies that made our list were busted deals—meaning that their shares fell below their IPO prices on the first day of trading.Case in point:ZIM Integrated Shipping(ZIM). The asset-light shipping company went public in January with a $15 offering price,but closed that day at $11.50. Yet by May 19, ZIM’s stockhad gained 295%after itreported first-quarter earnings of $589.6 million, or $5.35 a share. The companyalso declared a special cash dividend of $2 a share. ZIM is the second-best-performing IPO in the past 12 months, based on a total return of 209.33%, according to FactSet. It closed on Friday at $46.40.Another example isAcademy Sports & Outdoors(ASO): The companywent public in Octoberwith a $13 offering price, with the stock closing at $12.99 during its first day of public trading.Academy was profitable when it went public, a rarity in the IPO market. InMarch, the company reported that its net incomesoared 416%, to $91.5 million, or 97 cents a share, for its fourth fiscal quarter ended Jan. 30. Its shares have nearly tripled since the IPO, and were trading at $36.53 on Friday. Academy Sports ranks third with a total return from the offering price of 181%, FactSet said.Strong GainersThese companies all went public in the last year and produced high total returns compared to their IPO prices.Rounding out this category areCorsair Gaming(CRSR), a California companythat makes performance gear for gamers, and the Dubai-basedYalla Group(YALA), whichmakes a voice-chat app usedin the Middle East and North Africa called Yalla. Both stocks have rebounded strongly after less-than-stellar September IPOs.Some companies that made our list soared during their debuts, but have since seen their shares retreat. Still, these companies are producing gains.ConsiderBigCommerce(BIGC), which provides a cloud e-commerce platform that is used by such customers as SkullCandy, Savannah Bee Co, and the Cleveland Cavaliers.BigCommerce went public in Augustwith a $24 offering price—and the stock soared 201% that day,closing at $72.27. Since the IPO, the shares have fallen nearly 25%, amid a broader technology selloff.The company, however, has reported some positive developments, like a deal in February that wouldgive BigCommerce customersthe ability to sell directly on Walmart Marketplace. It also reported better-than-expected fourth-quarter results. BigCommerce has produced a total return of nearly 127%, according to FactSet.Other companies have seen their shares jump since going public.Dream Finders Homes (DFH), which designs, builds, and sells homes in high-growth markets, was already profitable when it made its trading debut in January at $13 a share. Shares soared 61%, $20.95 on its first day.Prices for houses in Marchgrew at the fastest rate since 2005, which has helped real estate stocks. Dream Finders stock has gained nearly 52% since its IPO, trading Friday at $31.77. Dream Finders notched a total return from offering price of 144.38%.","news_type":1,"symbols_score_info":{"BOTB.UK":0.9}},"isVote":1,"tweetType":1,"viewCount":337,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":698227726,"gmtCreate":1640415314432,"gmtModify":1640415314672,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"thanks","listText":"thanks","text":"thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/698227726","repostId":"2193917872","repostType":4,"isVote":1,"tweetType":1,"viewCount":2562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":124383248,"gmtCreate":1624741982784,"gmtModify":1631893081290,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/124383248","repostId":"1164137597","repostType":4,"isVote":1,"tweetType":1,"viewCount":887,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166165699,"gmtCreate":1623997314511,"gmtModify":1634024360374,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/166165699","repostId":"1175693382","repostType":4,"repost":{"id":"1175693382","kind":"news","pubTimestamp":1623978463,"share":"https://www.laohu8.com/m/news/1175693382?lang=zh_CN&edition=full","pubTime":"2021-06-18 09:07","market":"hk","language":"en","title":"Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175693382","media":"seekingalpha","summary":"Alibaba is probably the most undervalued growth stock right now.The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.The short term technical picture may be turning bullish with a potential double bottom price action signal.When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is probably the most undervalued growth stock right now.</li>  <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>  <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>  <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW可能是目前最被低估的成长型股票。</li><li>该公司在快速扩张的市场中的多种增长动力使其估值看起来更加令人困惑。</li><li>短期技术面可能会转向看涨，并出现潜在的双底价格走势信号。</li><li>我们讨论公司的多种增长动力，让投资者自行判断。</li></ul><p class=\"t-img-caption\"><span>戴永源/iStock未通过Getty Images发布</span></p></blockquote></p><p> <b>The Technical Thesis</b></p><p><blockquote><b>技术论文</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p><p><blockquote>自11月20日早些时候蚂蚁金服IPO被取消以来，阿里巴巴-SW的股价已经经历了可怕的8个月，股价低迷，较高点下跌了34%。当考虑其长期上升趋势的健康状况时，很明显BABA具有相对较强的上升趋势偏差，并且通常在其关键的50W MA上得到良好支撑。过去4年中唯一一次失去关键的50W MA支撑位是在2018年熊市期间，BABA下跌了约40%，但仍在重要的200W MA上方得到良好支撑，我们通常认为这是“最后一道防线”。现在阿里巴巴再次面临类似的情况：下跌34%，失去了50W MA，但看起来在200W MA上方得到了很好的支撑。除此之外，价格行为分析中的一个有趣观察可能会导致价格行为交易者/投资者特别看涨：潜在的双底形成。阿里巴巴的价格似乎正在经历双底，就像2018年熊市期间一样，随后强劲反弹。因此，阿里巴巴目前的水平现在可能提供一个可能的技术买入切入点。</blockquote></p><p> <b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p><p><blockquote><b>阿里巴巴的基本论点：快速扩大增长动力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度GMV。数据来源：公司备案</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年电子商务收入。数据来源：公司备案</span></p></blockquote></p><p> BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p><p><blockquote>阿里巴巴的GMV在短短7年内从1.68 T元增长到7.49 T元，复合年增长率为23.8%，增速确实惊人。我们还看到其GMV增长转化为收入增长，其中国商业收入从76.7亿元增长至4736.8亿元，过去10年复合年增长率为51%。虽然其国际足迹仍然相当小，但在过去10年中，其复合年增长率仍为30.42%，这一点也不慢。</blockquote></p><p> Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p><p><blockquote>尽管预计未来三年中国电子商务市场的增长速度将大幅放缓，复合年增长率为12.4%，从2021年的13.8 T元（相当于2.16 T美元）增长到2024年的19.6 T元（相当于3.06 T美元），但庞大的市场规模仍然为阿里巴巴及其最接近的竞争对手提供了巨大的增长潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>美国电子商务收入数据来源：Statista</span></p></blockquote></p><p> When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p><p><blockquote>当我们通过比较中国与美国电子商务市场的增长率和规模来更清晰地看待事物时，我们可以看到它们的规模和增长率的巨大差异，因为美国电子商务市场预计仅增长2021年至2025年的复合年增长率为4.67%，明显低于中国的12.4%。此外，美国市场的总收入预计也将达到约5630亿美元，是届时中国市场预计价值的18%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行息税前利润率和预计息税前利润率。数据来源：标普资本智商</span></p></blockquote></p><p> Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p><p><blockquote>尽管阿里巴巴-SW一直面临着来自快速增长的主要竞争对手京东（纳斯达克：JD）和拼多多（纳斯达克：PDD）的越来越大的竞争压力，但阿里巴巴已经在经营利润更高的业务（息税前利润和自由现金流），并且预计未来将继续实现强劲的盈利能力，这将使该公司具有巨大的灵活性，可以与京东和拼多多正面竞争，以扩大其领导地位。投资者可能会注意到，阿里巴巴的息税前利润率受到其SG&amp;A中反映的27.82亿美元一次性行政罚款的影响，因此其息税前利润率出现下行。</blockquote></p><p></p><p> One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p><p><blockquote>一项重要举措是该公司决定进一步投资社区市场，这是拼多多的主要电子商务战略，拼多多在最近一个季度总共获得了8.23亿AAC，而阿里巴巴的AAC为8.91亿。与阿里巴巴同期的4.66亿AAC相比，拼多多的AAC在2017年第二季度仅有1亿AAC，其AAC增长确实是惊人的。</blockquote></p><p> Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p><p><blockquote>因此，增长势头肯定已经转向社区市场领域，阿里巴巴需要拿出重磅炸弹（它已经拥有）来与拼多多和京东争夺主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国社区团购的市场规模。数据来源：艾媒咨询</span></p></blockquote></p><p> Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p><p><blockquote>尽管预计到2022年1020亿元的总市场规模仅占阿里巴巴21财年中国商业收入的21.5%左右，但阿里巴巴不能错过2019年至2022年3年内44.22%的预期快速复合年增长率。虽然市场还比较小，但BABA不能让这个市场目前的龙头：PDD在旁人无知的情况下，如此轻易地称霸并吞噬早期的高增长率。当然，阿里巴巴必须竞争并争取自己在这一领域的地位，并争取早期领导地位，以防止拼多多扩大领先优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>PDD盈利指标和收入增长预测。数据来源：标普资本智商</span></p></blockquote></p><p> We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p><p><blockquote>我们可以从上图中观察到，拼多多的收入预计将在未来几年继续快速增长，尽管预计随后将正常化。更重要的是，拼多多预计未来的息税前利润和自由现金流盈利能力也将日益提高。这表明社区市场细分市场是一个非常重要的增长动力，阿里巴巴必须利用其优势来利用它，以否认拼多多在游戏早期声称的无可争议的领导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云支出。来源：中国互联网观察；Canalys</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云市场规模。数据来源：中国信通技术；新浪网</span></p></blockquote></p><p> BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p><p><blockquote>阿里巴巴在中国公有云市场拥有40%的份额，远远领先于其主要竞争对手。然而，值得注意的是，尽管处于领先地位，阿里巴巴仍处于大力投资模式，以继续扩大其市场份额，因为中国公共云市场预计将从2017年的264.8亿元增长到2023年的2307.4亿元，这将代表CAGR 43.4%，这是一个令人难以置信的出色增长率。当我们将中国的增长率与全球增长率（见下文）进行比较时，这一点尤其明显，因为全球公共云支出预计将从2017年的1450亿美元增长到2022年的3970亿美元，这将代表22.3%的CAGR。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云支出。数据来源：Gartner</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云市场份额。来源：CnTechPost；Gartner</span></p></blockquote></p><p> Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p><p><blockquote>因此，阿里云在2020年以9.5%的市场份额继续扩大对Alphabet（纳斯达克：GOOGL）（纳斯达克：GOOG）GCP的领先优势，我并不觉得奇怪。虽然亚马逊仍然是市场上明显的领导者，但随着公共云支出的持续扩大，其市场份额一直在大幅下降，这表明多个参与者存在巨大的增长潜力。凭借阿里巴巴在快速扩张的中国市场的领导地位，我越来越看好该细分市场未来的利润和自由现金流对阿里巴巴业绩的贡献。尽管阿里巴巴的云部门尚未实现息税前利润（21财年息税前利润率：-15%，20财年息税前利润率：-17.5%），但值得注意的是，Alphabet的GCP也尚未实现盈利（20财年息税前利润率：-42.9%，19财年息税前利润率：-52%）。因此，我们需要给阿里巴巴一些时间来扩大其在亚太地区和中国的云服务规模，预计阿里巴巴将拥有更强大的领导力，使其能够更快地增长，投资者应该预计随着时间的推移，这将是一个高利润的细分市场。</blockquote></p><p> <b>BABA's Valuations Look Highly Compelling</b></p><p><blockquote><b>阿里巴巴的估值看起来非常引人注目</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p><p><blockquote><p class=\"t-img-caption\"><span>NTM TEV/EBIT 3Y范围。</span></p></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd息税前利润和EV/Fwd Rev趋势。数据来源：标普资本智商</span></p></blockquote></p><p> When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p><p><blockquote>当我们考虑阿里巴巴的TEV/EBIT历史范围（3年平均值为33.54倍）时，阿里巴巴的EV/Fwd EBIT趋势无疑意味着该股票被严重低估，因为预计阿里巴巴的收入和营业利润仍将快速增长。然而，由于我们希望更清楚地了解其同行的估值情况，我们认为如果我们对阿里巴巴的息税前利润进行估值，而不是下面介绍的一组基准公司，这将是有用的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行EV/EBIT估值。数据来源：标普资本智商</span></p></blockquote></p><p> By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p><p><blockquote>通过混合使用历史和远期息税前利润，我们可以看到，与基准公司一组观察值的中值相比，阿里巴巴的EV/EBIT看起来确实被低估了。我们得出阿里巴巴的公允价值范围为294.98美元，位于该范围的中点，基于当前210美元的股价，这意味着40.5%的潜在上涨空间。</blockquote></p><p> <b>Risks to Assumptions</b></p><p><blockquote><b>假设风险</b></blockquote></p><p> Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p><p><blockquote>现在，看着先生如何表现显然令人困惑。市场决定对阿里巴巴进行折扣，就好像该公司已经失去了所有关键的增长来源，而事实上，其商业部门、新的市场举措和不断增长的阿里云部门仍有很大的潜在上涨空间，其中。我们认为该股表现不佳的主要现实原因只是监管风险。我们认为投资者应该承认这种风险是非常真实的，有时大型中国公司会发现自己受到中国政府的额外审查（事实上这并不是什么新鲜事）。这里关键的是，中国政府似乎对其科技巨头的行为和行动拥有重大影响力，而这些影响力有时可能在很大程度上是不可预测的。市场当然讨厌不可预测性，因此他们可能会因此大幅折扣阿里巴巴。如果投资者无法应对潜在不可预测的监管行动及其后果的不确定性，那么阿里巴巴可能不适合您。然而，如果你认为这只是阿里巴巴漫长旅程中的一个短暂时刻，那么你肯定会发现阿里巴巴现在的估值极具吸引力，再加上长期思维。</blockquote></p><p> <b>Wrapping It All Up</b></p><p><blockquote><b>把这一切包起来</b></blockquote></p><p> Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p><p><blockquote>阿里巴巴-SW继续取得稳健的业绩，展示了公司强大的执行能力。由于该公司继续在一个拥有如此多增长动力的市场中运营，预计将推动公司未来的增长，投资者应该会发现当前的估值非常有吸引力。</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>Alibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</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\">\nAlibaba Stock: The Bottoming Process Looks To Be Forming Already<blockquote>阿里巴巴-SW股票：触底过程似乎已经形成</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-18 09:07</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Alibaba is probably the most undervalued growth stock right now.</li>  <li>The company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.</li>  <li>The short term technical picture may be turning bullish with a potential double bottom price action signal.</li>  <li>We discuss the company’s multiple growth drivers and let investors judge for themselves.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e63c77d4f3f3dc3d618e43044638bb\" tg-width=\"768\" tg-height=\"512\"><span>Yongyuan Dai/iStock Unreleased via Getty Images</span></p><p><blockquote><ul><li>阿里巴巴-SW可能是目前最被低估的成长型股票。</li><li>该公司在快速扩张的市场中的多种增长动力使其估值看起来更加令人困惑。</li><li>短期技术面可能会转向看涨，并出现潜在的双底价格走势信号。</li><li>我们讨论公司的多种增长动力，让投资者自行判断。</li></ul><p class=\"t-img-caption\"><span>戴永源/iStock未通过Getty Images发布</span></p></blockquote></p><p> <b>The Technical Thesis</b></p><p><blockquote><b>技术论文</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7febf6ed056b0e3bc038321cdaad9b1c\" tg-width=\"1280\" tg-height=\"782\"><span>Source: TradingView</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView</span></p></blockquote></p><p> Alibaba’s&nbsp;stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.</p><p><blockquote>自11月20日早些时候蚂蚁金服IPO被取消以来，阿里巴巴-SW的股价已经经历了可怕的8个月，股价低迷，较高点下跌了34%。当考虑其长期上升趋势的健康状况时，很明显BABA具有相对较强的上升趋势偏差，并且通常在其关键的50W MA上得到良好支撑。过去4年中唯一一次失去关键的50W MA支撑位是在2018年熊市期间，BABA下跌了约40%，但仍在重要的200W MA上方得到良好支撑，我们通常认为这是“最后一道防线”。现在阿里巴巴再次面临类似的情况：下跌34%，失去了50W MA，但看起来在200W MA上方得到了很好的支撑。除此之外，价格行为分析中的一个有趣观察可能会导致价格行为交易者/投资者特别看涨：潜在的双底形成。阿里巴巴的价格似乎正在经历双底，就像2018年熊市期间一样，随后强劲反弹。因此，阿里巴巴目前的水平现在可能提供一个可能的技术买入切入点。</blockquote></p><p> <b>BABA's Fundamental Thesis: Rapidly Expanding Growth Drivers</b></p><p><blockquote><b>阿里巴巴的基本论点：快速扩大增长动力</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eba49f5881708929949c30628eedc5d4\" tg-width=\"934\" tg-height=\"578\"><span>Annual GMV. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年度GMV。数据来源：公司备案</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a4d6c4ed3e2402f5af52b2dea8bab411\" tg-width=\"836\" tg-height=\"517\"><span>Annual e-commerce revenue. Data source: Company filings</span></p><p><blockquote><p class=\"t-img-caption\"><span>年电子商务收入。数据来源：公司备案</span></p></blockquote></p><p> BABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.</p><p><blockquote>阿里巴巴的GMV在短短7年内从1.68 T元增长到7.49 T元，复合年增长率为23.8%，增速确实惊人。我们还看到其GMV增长转化为收入增长，其中国商业收入从76.7亿元增长至4736.8亿元，过去10年复合年增长率为51%。虽然其国际足迹仍然相当小，但在过去10年中，其复合年增长率仍为30.42%，这一点也不慢。</blockquote></p><p> Even though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.</p><p><blockquote>尽管预计未来三年中国电子商务市场的增长速度将大幅放缓，复合年增长率为12.4%，从2021年的13.8 T元（相当于2.16 T美元）增长到2024年的19.6 T元（相当于3.06 T美元），但庞大的市场规模仍然为阿里巴巴及其最接近的竞争对手提供了巨大的增长潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ffe2dee43f267e1d1399c68e3ca60f36\" tg-width=\"600\" tg-height=\"371\"><span>E-commerce revenue in the U.S. Data source: Statista</span></p><p><blockquote><p class=\"t-img-caption\"><span>美国电子商务收入数据来源：Statista</span></p></blockquote></p><p> When we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.</p><p><blockquote>当我们通过比较中国与美国电子商务市场的增长率和规模来更清晰地看待事物时，我们可以看到它们的规模和增长率的巨大差异，因为美国电子商务市场预计仅增长2021年至2025年的复合年增长率为4.67%，明显低于中国的12.4%。此外，美国市场的总收入预计也将达到约5630亿美元，是届时中国市场预计价值的18%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0d5a8d0d8a6a2dcdf667a6f33c6c9771\" tg-width=\"1280\" tg-height=\"702\"><span>Peers EBIT Margin and Projected EBIT Margin. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行息税前利润率和预计息税前利润率。数据来源：标普资本智商</span></p></blockquote></p><p> Even though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&amp;A, and therefore skewed its EBIT margin to the downside.</p><p><blockquote>尽管阿里巴巴-SW一直面临着来自快速增长的主要竞争对手京东（纳斯达克：JD）和拼多多（纳斯达克：PDD）的越来越大的竞争压力，但阿里巴巴已经在经营利润更高的业务（息税前利润和自由现金流），并且预计未来将继续实现强劲的盈利能力，这将使该公司具有巨大的灵活性，可以与京东和拼多多正面竞争，以扩大其领导地位。投资者可能会注意到，阿里巴巴的息税前利润率受到其SG&amp;A中反映的27.82亿美元一次性行政罚款的影响，因此其息税前利润率出现下行。</blockquote></p><p></p><p> One important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of&nbsp;823M AAC&nbsp;in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only&nbsp;100M AAC in Q2’C17&nbsp;as compared to BABA’s 466M AAC in the same period.</p><p><blockquote>一项重要举措是该公司决定进一步投资社区市场，这是拼多多的主要电子商务战略，拼多多在最近一个季度总共获得了8.23亿AAC，而阿里巴巴的AAC为8.91亿。与阿里巴巴同期的4.66亿AAC相比，拼多多的AAC在2017年第二季度仅有1亿AAC，其AAC增长确实是惊人的。</blockquote></p><p> Therefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.</p><p><blockquote>因此，增长势头肯定已经转向社区市场领域，阿里巴巴需要拿出重磅炸弹（它已经拥有）来与拼多多和京东争夺主导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3b83b69b08b1f4b11a26393c8e6eead5\" tg-width=\"600\" tg-height=\"371\"><span>Market size of community group buying in China. Data source: iiMedia Research</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国社区团购的市场规模。数据来源：艾媒咨询</span></p></blockquote></p><p> Even though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.</p><p><blockquote>尽管预计到2022年1020亿元的总市场规模仅占阿里巴巴21财年中国商业收入的21.5%左右，但阿里巴巴不能错过2019年至2022年3年内44.22%的预期快速复合年增长率。虽然市场还比较小，但BABA不能让这个市场目前的龙头：PDD在旁人无知的情况下，如此轻易地称霸并吞噬早期的高增长率。当然，阿里巴巴必须竞争并争取自己在这一领域的地位，并争取早期领导地位，以防止拼多多扩大领先优势。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b97b2b4a8a182dc9846d8fb7e4039877\" tg-width=\"1280\" tg-height=\"770\"><span>PDD profitability metrics &amp; revenue growth forecast. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>PDD盈利指标和收入增长预测。数据来源：标普资本智商</span></p></blockquote></p><p> We could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.</p><p><blockquote>我们可以从上图中观察到，拼多多的收入预计将在未来几年继续快速增长，尽管预计随后将正常化。更重要的是，拼多多预计未来的息税前利润和自由现金流盈利能力也将日益提高。这表明社区市场细分市场是一个非常重要的增长动力，阿里巴巴必须利用其优势来利用它，以否认拼多多在游戏早期声称的无可争议的领导地位。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3aadc32155b4108426a1a982e3b5b1c2\" tg-width=\"640\" tg-height=\"360\"><span>China public cloud spending. Source:China Internet Watch; Canalys</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云支出。来源：中国互联网观察；Canalys</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1c1538b9f7bdc8d6d35a72d9acf8ecbc\" tg-width=\"600\" tg-height=\"371\"><span>Size of China public cloud market. Data source: CAICT; Sina.com.cn</span></p><p><blockquote><p class=\"t-img-caption\"><span>中国公有云市场规模。数据来源：中国信通技术；新浪网</span></p></blockquote></p><p> BABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.</p><p><blockquote>阿里巴巴在中国公有云市场拥有40%的份额，远远领先于其主要竞争对手。然而，值得注意的是，尽管处于领先地位，阿里巴巴仍处于大力投资模式，以继续扩大其市场份额，因为中国公共云市场预计将从2017年的264.8亿元增长到2023年的2307.4亿元，这将代表CAGR 43.4%，这是一个令人难以置信的出色增长率。当我们将中国的增长率与全球增长率（见下文）进行比较时，这一点尤其明显，因为全球公共云支出预计将从2017年的1450亿美元增长到2022年的3970亿美元，这将代表22.3%的CAGR。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06198c569504bc303c34563041dfb294\" tg-width=\"600\" tg-height=\"371\"><span>Worldwide public cloud spending. Data source: Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云支出。数据来源：Gartner</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8482037f60575f964053ab732496bee3\" tg-width=\"1176\" tg-height=\"700\"><span>Worldwide public cloud market share. Source:CnTechPost; Gartner</span></p><p><blockquote><p class=\"t-img-caption\"><span>全球公共云市场份额。来源：CnTechPost；Gartner</span></p></blockquote></p><p> Therefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.</p><p><blockquote>因此，阿里云在2020年以9.5%的市场份额继续扩大对Alphabet（纳斯达克：GOOGL）（纳斯达克：GOOG）GCP的领先优势，我并不觉得奇怪。虽然亚马逊仍然是市场上明显的领导者，但随着公共云支出的持续扩大，其市场份额一直在大幅下降，这表明多个参与者存在巨大的增长潜力。凭借阿里巴巴在快速扩张的中国市场的领导地位，我越来越看好该细分市场未来的利润和自由现金流对阿里巴巴业绩的贡献。尽管阿里巴巴的云部门尚未实现息税前利润（21财年息税前利润率：-15%，20财年息税前利润率：-17.5%），但值得注意的是，Alphabet的GCP也尚未实现盈利（20财年息税前利润率：-42.9%，19财年息税前利润率：-52%）。因此，我们需要给阿里巴巴一些时间来扩大其在亚太地区和中国的云服务规模，预计阿里巴巴将拥有更强大的领导力，使其能够更快地增长，投资者应该预计随着时间的推移，这将是一个高利润的细分市场。</blockquote></p><p> <b>BABA's Valuations Look Highly Compelling</b></p><p><blockquote><b>阿里巴巴的估值看起来非常引人注目</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/62a087c4b3ef7efc2c5dde813e3b959d\" tg-width=\"1000\" tg-height=\"600\"><span>NTM TEV / EBIT 3Y range.</span></p><p><blockquote><p class=\"t-img-caption\"><span>NTM TEV/EBIT 3Y范围。</span></p></blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b2605c0e5ad364a7a43929fef204595c\" tg-width=\"1280\" tg-height=\"687\"><span>EV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>EV/Fwd息税前利润和EV/Fwd Rev趋势。数据来源：标普资本智商</span></p></blockquote></p><p> When we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.</p><p><blockquote>当我们考虑阿里巴巴的TEV/EBIT历史范围（3年平均值为33.54倍）时，阿里巴巴的EV/Fwd EBIT趋势无疑意味着该股票被严重低估，因为预计阿里巴巴的收入和营业利润仍将快速增长。然而，由于我们希望更清楚地了解其同行的估值情况，我们认为如果我们对阿里巴巴的息税前利润进行估值，而不是下面介绍的一组基准公司，这将是有用的。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d27873e676dfb23c98d4a69aa5861e02\" tg-width=\"1280\" tg-height=\"1117\"><span>Peers EV / EBIT Valuations. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>同行EV/EBIT估值。数据来源：标普资本智商</span></p></blockquote></p><p> By using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.</p><p><blockquote>通过混合使用历史和远期息税前利润，我们可以看到，与基准公司一组观察值的中值相比，阿里巴巴的EV/EBIT看起来确实被低估了。我们得出阿里巴巴的公允价值范围为294.98美元，位于该范围的中点，基于当前210美元的股价，这意味着40.5%的潜在上涨空间。</blockquote></p><p> <b>Risks to Assumptions</b></p><p><blockquote><b>假设风险</b></blockquote></p><p> Now, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.</p><p><blockquote>现在，看着先生如何表现显然令人困惑。市场决定对阿里巴巴进行折扣，就好像该公司已经失去了所有关键的增长来源，而事实上，其商业部门、新的市场举措和不断增长的阿里云部门仍有很大的潜在上涨空间，其中。我们认为该股表现不佳的主要现实原因只是监管风险。我们认为投资者应该承认这种风险是非常真实的，有时大型中国公司会发现自己受到中国政府的额外审查（事实上这并不是什么新鲜事）。这里关键的是，中国政府似乎对其科技巨头的行为和行动拥有重大影响力，而这些影响力有时可能在很大程度上是不可预测的。市场当然讨厌不可预测性，因此他们可能会因此大幅折扣阿里巴巴。如果投资者无法应对潜在不可预测的监管行动及其后果的不确定性，那么阿里巴巴可能不适合您。然而，如果你认为这只是阿里巴巴漫长旅程中的一个短暂时刻，那么你肯定会发现阿里巴巴现在的估值极具吸引力，再加上长期思维。</blockquote></p><p> <b>Wrapping It All Up</b></p><p><blockquote><b>把这一切包起来</b></blockquote></p><p> Alibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.</p><p><blockquote>阿里巴巴-SW继续取得稳健的业绩，展示了公司强大的执行能力。由于该公司继续在一个拥有如此多增长动力的市场中运营，预计将推动公司未来的增长，投资者应该会发现当前的估值非常有吸引力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now\">seekingalpha</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":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4435297-alibaba-stock-bottoming-process-forming-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175693382","content_text":"Summary\n\nAlibaba is probably the most undervalued growth stock right now.\nThe company’s multiple growth drivers within a rapidly expanding market made its valuations look even more baffling.\nThe short term technical picture may be turning bullish with a potential double bottom price action signal.\nWe discuss the company’s multiple growth drivers and let investors judge for themselves.\n\nYongyuan Dai/iStock Unreleased via Getty Images\nThe Technical Thesis\nSource: TradingView\nAlibaba’s stock price has endured a terrible 8 months ever since its Ant Financial IPO was pulled in early Nov 20, with the stock languishing in the doldrums 34% off its high. When considering the health of its long term uptrend, it’s clear that BABA has a relatively strong uptrend bias and has generally been well supported along its key 50W MA. The only other time in the last 4 years that it lost its key 50W MA support level was during the 2018 bear market where BABA dropped about 40%, but was still well supported above the important 200W MA, which we usually consider as the “last line of defense”. Right now BABA is somewhat facing a similar situation again: down 34%, lost the 50W MA, but looks to be well supported above the 200W MA. In addition to that, one interesting observation in price action analysis may lead price action traders/investors to be especially bullish: a potential double bottom formation. BABA's price is seemingly going through a double bottom like it did during the 2018 bear market before it rallied strongly thereafter. As a result, BABA’s current level may offer a possible technical buy entry point now.\nBABA's Fundamental Thesis: Rapidly Expanding Growth Drivers\nAnnual GMV. Data source: Company filings\nAnnual e-commerce revenue. Data source: Company filings\nBABA’s GMV grew from 1.68T yuan to 7.49T yuan in just a matter of 7 years, which represented a CAGR of 23.8%, a truly amazing growth rate. We also saw its GMV growth being converted into revenue growth as its China commerce revenue grew from 7.67B yuan to 473.68B yuan, at a CAGR of 51% over the last 10 years. While its international footprint remains considerably smaller, it still grew at a CAGR of 30.42% over the last 10 years, which was by no means slow.\nEven though China’s e-commerce market is expected to grow considerably slower at a CAGR of 12.4% over the next three years, from 13.8T yuan, equivalent to $2.16T in 2021 to 19.6T yuan,equivalent to $3.06T by 2024, the massive size of the market still offers tremendous upside potential for BABA and its closest competitors to grow into.\nE-commerce revenue in the U.S. Data source: Statista\nWhen we take things into clearer perspective by comparing China’s growth rate and size of its market to that of the U.S. e-commerce market, we could see the huge differences in their sizes and growth rates as the U.S. e-commerce market is only expected to grow at a CAGR of 4.67% from 2021 to 2025, which is significantly slower than China’s 12.4%. In addition, the U.S. market is also expected to reach about $563B in total revenue, which is 18% of what the China market is expected to be worth by then.\nPeers EBIT Margin and Projected EBIT Margin. Data source: S&P Capital IQ\nEven though Alibaba has been facing increased competitive pressures from its fast growing key competitors: JD.com(NASDAQ:JD)and Pinduoduo(NASDAQ:PDD), BABA has already been operating a much more profitable business (both EBIT and FCF), and is expected to continue delivering strong profitability moving forward, which should give the company tremendous flexibility to compete head on with JD and PDD in its quest to extend its leadership. Investors may observe that BABA’s EBIT margin was affected by the one-off administrative penalty of $2,782M that was reflected in its SG&A, and therefore skewed its EBIT margin to the downside.\nOne important move was the company’s decision to further its investment in the Community Marketplace, which is PDD’s main e-commerce strategy that saw PDD gain a total of 823M AAC in its latest quarter as compared to BABA’s 891M AAC. PDD’s AAC growth is truly phenomenal considering it had only 100M AAC in Q2’C17 as compared to BABA’s 466M AAC in the same period.\nTherefore, the momentum of growth has surely swung over to the Community Marketplace segment and BABA would need to pull out its big guns (which it has) to compete for dominance with PDD and JD.\nMarket size of community group buying in China. Data source: iiMedia Research\nEven though the expected total market size of 102B yuan by 2022 represented only about 21.5% of BABA’s FY 21 China commerce revenue, the expected rapid CAGR of 44.22% over 3 years from 2019 to 2022 cannot be missed by BABA. Although the market is still relatively small, BABA cannot allow the current leader in this market: PDD to so easily dominate and gobble up the early high growth rates at the ignorance of everyone else. Certainly BABA must compete and fight for its place in this segment and strive for early leadership to prevent PDD from extending its lead.\nPDD profitability metrics & revenue growth forecast. Data source: S&P Capital IQ\nWe could observe from the above chart that PDD is expected to continue growing its revenue rapidly over the next few years, even though they are expected to normalize subsequently. More importantly, PDD is also expected to increasingly improve its EBIT and FCF profitability moving forward. This shows that the Community Marketplace segment is an highly important growth driver that BABA must use its strength to exploit in order to deny PDD’s claim to undisputed leadership so early on in the game.\nChina public cloud spending. Source:China Internet Watch; Canalys\nSize of China public cloud market. Data source: CAICT; Sina.com.cn\nBABA has a 40% share in China’s public cloud market, way ahead of its key competitors. However, it’s important to note that despite this leadership, BABA is still in heavy investment mode to continue growing its market share as China’s public cloud market is expected to grow from 26.48B yuan in 2017 to 230.74B yuan by 2023, which would represent a CAGR of 43.4%, an incredibly stellar growth rate. This is especially clear when we compare China’s growth rate to the worldwide growth rate (see below) as public cloud spending worldwide is expected to grow from $145B in 2017 to $397B by 2022, that would represent a CAGR of 22.3%.\nWorldwide public cloud spending. Data source: Gartner\nWorldwide public cloud market share. Source:CnTechPost; Gartner\nTherefore, I don’t find it surprising that Ali Cloud has continued to extend its lead over Alphabet’s(NASDAQ:GOOGL)(NASDAQ:GOOG)GCP with a market share of 9.5% in 2020. While AMZN remains the clear leader in the market, its market share has been coming down considerably as public cloud spending continues to expand, indicating that there is a huge potential for growth for multiple players to exist. With BABA’s leadership in the rapidly expanding Chinese market, I’m increasingly bullish on the future profit and FCF contribution from this segment to BABA’s performance over time. Although BABA’s cloud segment has not been EBIT profitable yet (FY 21 EBIT margin: -15%, FY 20 EBIT margin: -17.5%), it’s also useful to note that GCP has also not been profitable for Alphabet as well (FY 20 EBIT margin: -42.9%, FY 19 EBIT margin: -52%). Therefore, we need to give BABA some time to scale up its cloud services in APAC and in China where it is expected to have stronger leadership to allow it to grow faster and investors should expect this to be a highly profitable segment over time.\nBABA's Valuations Look Highly Compelling\nNTM TEV / EBIT 3Y range.\nEV / Fwd EBIT and EV / Fwd Rev trend. Data source: S&P Capital IQ\nWhen we consider BABA's TEV / EBIT historical range, where the 3Y mean read 33.54x, BABA’s EV / Fwd EBIT trend certainly imply a hugely undervalued stock as BABA is still expected to grow its revenue and operating profits rapidly. However, as we wanted to obtain greater clarity over how its counterparts are also valued, we thought it would be useful if we value BABA’s EBIT over a set of benchmark companies that is presented below.\nPeers EV / EBIT Valuations. Data source: S&P Capital IQ\nBy using a blend of historical and forward EBIT, we could see that BABA’s EV / EBIT really looks undervalued when compared to the median value of the set of observed values from the benchmark companies. We derived a fair value range for BABA of $294.98 at the midpoint of the range, that represented a potential upside of 40.5% based on the current stock price of $210.\nRisks to Assumptions\nNow, it’s obviously baffling to watch how Mr. Market has decided to discount BABA to such an extent as if the company has lost all its key sources of growth, when in fact there is still so much potential upside coming from its commerce segment, the new marketplace initiatives and its growing Ali Cloud segment, among others. The main realistic reason that we identified for the stock's underperformance would simply be regulatory risk. We think investors should acknowledge that this risk is very real and at times huge Chinese companies have found themselves to be subjected to extra scrutiny (which is nothing new in fact) by the Chinese government. What’s critical here is that the Chinese government seemingly has significant clout over the behavior and actions of their tech behemoths that at times may be largely unpredictable. The market certainly hates unpredictability and therefore they may have significantly discounted BABA as a result of that. If investors are not able to handle uncertainty with regard to potentially unpredictable regulatory actions and their aftermath, then BABA may not be appropriate for you. However, if you believe that this is just a blip in BABA’s long journey, then you would surely find BABA's valuations extremely attractive right now, coupled with a long term mindset.\nWrapping It All Up\nAlibaba has continued to deliver solid results that demonstrated the strong capability of the company to execute well. As the company continues to operate within a market with so many growth drivers that are expected to drive the company’s future growth, investors should find the current valuations highly attractive.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":180203606,"gmtCreate":1623204182405,"gmtModify":1634035837237,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/180203606","repostId":"1128909306","repostType":4,"repost":{"id":"1128909306","kind":"news","pubTimestamp":1623193560,"share":"https://www.laohu8.com/m/news/1128909306?lang=zh_CN&edition=full","pubTime":"2021-06-09 07:06","market":"us","language":"en","title":"S&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1128909306","media":"reuters","summary":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of c","content":"<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.</p><p><blockquote>纽约（路透社）-华尔街股市周二难以勉强维持收盘涨幅，因为缺乏明确的市场催化剂使机构投资者保持观望，而散户交易者则推动了模因股的持续上涨。</blockquote></p><p>All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&amp;P 500 and the Dow closing within about 0.5% of record highs.</p><p><blockquote>美国三大股指均在接近持平或走高的区间震荡时段结束，标普500和道指收盘距离纪录高位约0.5%。</blockquote></p><p>The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.</p><p><blockquote>以科技股为主的纳斯达克综合指数表现最佳，其中亚马逊公司和苹果公司的推动作用最大。</blockquote></p><p>“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”</p><p><blockquote>芝加哥Kingsview资产管理公司的投资组合经理Paul Nolte表示：“我们正在等待通胀数据，等待（美联储）的更多数据，等待财报季。”“今天市场没有太多动力。”</blockquote></p><p>“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.</p><p><blockquote>诺尔特补充道：“我们可能会在7月4日之后才会看到财报季开始。”</blockquote></p><p>The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.</p><p><blockquote>衡量投资者焦虑程度的芝加哥期权交易所波动率指数触及一年多来的最低水平。</blockquote></p><p>Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.</p><p><blockquote>小型股再次受到持续的模因股票零售狂潮的提振，表现优于大型股。</blockquote></p><p>Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.</p><p><blockquote>Clover Health Investments在meme股票中占据榜首，飙升85.8%，成为纳斯达克涨幅最大的股票。</blockquote></p><p>Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath &amp; Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.</p><p><blockquote>其他近期交易量爆炸性的股票，包括游戏驿站公司、Bed Bath&amp;Beyond Inc、Workhorse Group等，收盘上涨7%至12%。</blockquote></p><p>“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”</p><p><blockquote>诺尔特说：“（模因股票）是行动所在，但你把它翻过来，看起来像加密货币，那就一团糟了。”“现在，模因股票正在取代加密货币成为热门，这都是非常宽松的货币政策的结果。”</blockquote></p><p>Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.</p><p><blockquote>美国劳工部和全国独立企业联合会的报告似乎证实了劳动力短缺，尽管需求复苏，这可能会给工资带来上行压力，这是更广泛通胀的前兆。</blockquote></p><p>Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.</p><p><blockquote>市场参与者从周四的消费者价格指数数据中寻找有关通胀的进一步线索，以及通胀如何影响美联储收紧货币政策的时间表。</blockquote></p><p>The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&amp;P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.</p><p><blockquote>道琼工业指数跌30.42点，或0.09%，报34,599.82点；标普500上涨0.74点，涨幅0.02%，至4,227.26点；纳斯达克综合指数上涨43.19点，涨幅0.31%，至13,924.91点。</blockquote></p><p>Of the 11 major sectors in the S&amp;P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.</p><p><blockquote>标普500 11个主要板块中，非必需消费品涨幅最大，公用事业跌幅最大。</blockquote></p><p>Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.</p><p><blockquote>根据中国乘用车协会的数据，特斯拉公司5月份中国制造的电动汽车销量猛增29%，同比增长177%。受此消息影响，该股抹去了最初的涨幅，收盘下跌0.3%。</blockquote></p><p>Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.</p><p><blockquote>西南航空宣布订购34架新737 MAX飞机，提振了波音公司股价，但该飞机制造商股价回吐涨幅，收盘持平。</blockquote></p><p>GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.</p><p><blockquote>游戏驿站是与Reddit驱动的轧空现象关系最密切的公司，预计将在周三收盘后公布季度业绩。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.74比1；在纳斯达克，1.66比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.</p><p><blockquote>标普500创下54个52周新高和1个新低；纳斯达克综合指数录得172个新高和16个新低。</blockquote></p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为118.2亿股，而过去20个交易日的平均成交量为107.5亿股。</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>S&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</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\">\nS&P 500 closes little changed as \"meme stocks\" extend rally<blockquote>随着“模因股”延续涨势，标普500收盘变化不大</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">reuters</strong><span class=\"h-time small\">2021-06-09 07:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.</p><p><blockquote>纽约（路透社）-华尔街股市周二难以勉强维持收盘涨幅，因为缺乏明确的市场催化剂使机构投资者保持观望，而散户交易者则推动了模因股的持续上涨。</blockquote></p><p>All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&amp;P 500 and the Dow closing within about 0.5% of record highs.</p><p><blockquote>美国三大股指均在接近持平或走高的区间震荡时段结束，标普500和道指收盘距离纪录高位约0.5%。</blockquote></p><p>The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.</p><p><blockquote>以科技股为主的纳斯达克综合指数表现最佳，其中亚马逊公司和苹果公司的推动作用最大。</blockquote></p><p>“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”</p><p><blockquote>芝加哥Kingsview资产管理公司的投资组合经理Paul Nolte表示：“我们正在等待通胀数据，等待（美联储）的更多数据，等待财报季。”“今天市场没有太多动力。”</blockquote></p><p>“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.</p><p><blockquote>诺尔特补充道：“我们可能会在7月4日之后才会看到财报季开始。”</blockquote></p><p>The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.</p><p><blockquote>衡量投资者焦虑程度的芝加哥期权交易所波动率指数触及一年多来的最低水平。</blockquote></p><p>Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.</p><p><blockquote>小型股再次受到持续的模因股票零售狂潮的提振，表现优于大型股。</blockquote></p><p>Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.</p><p><blockquote>Clover Health Investments在meme股票中占据榜首，飙升85.8%，成为纳斯达克涨幅最大的股票。</blockquote></p><p>Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath &amp; Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.</p><p><blockquote>其他近期交易量爆炸性的股票，包括游戏驿站公司、Bed Bath&amp;Beyond Inc、Workhorse Group等，收盘上涨7%至12%。</blockquote></p><p>“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”</p><p><blockquote>诺尔特说：“（模因股票）是行动所在，但你把它翻过来，看起来像加密货币，那就一团糟了。”“现在，模因股票正在取代加密货币成为热门，这都是非常宽松的货币政策的结果。”</blockquote></p><p>Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.</p><p><blockquote>美国劳工部和全国独立企业联合会的报告似乎证实了劳动力短缺，尽管需求复苏，这可能会给工资带来上行压力，这是更广泛通胀的前兆。</blockquote></p><p>Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.</p><p><blockquote>市场参与者从周四的消费者价格指数数据中寻找有关通胀的进一步线索，以及通胀如何影响美联储收紧货币政策的时间表。</blockquote></p><p>The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&amp;P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.</p><p><blockquote>道琼工业指数跌30.42点，或0.09%，报34,599.82点；标普500上涨0.74点，涨幅0.02%，至4,227.26点；纳斯达克综合指数上涨43.19点，涨幅0.31%，至13,924.91点。</blockquote></p><p>Of the 11 major sectors in the S&amp;P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.</p><p><blockquote>标普500 11个主要板块中，非必需消费品涨幅最大，公用事业跌幅最大。</blockquote></p><p>Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.</p><p><blockquote>根据中国乘用车协会的数据，特斯拉公司5月份中国制造的电动汽车销量猛增29%，同比增长177%。受此消息影响，该股抹去了最初的涨幅，收盘下跌0.3%。</blockquote></p><p>Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.</p><p><blockquote>西南航空宣布订购34架新737 MAX飞机，提振了波音公司股价，但该飞机制造商股价回吐涨幅，收盘持平。</blockquote></p><p>GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.</p><p><blockquote>游戏驿站是与Reddit驱动的轧空现象关系最密切的公司，预计将在周三收盘后公布季度业绩。</blockquote></p><p>Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.</p><p><blockquote>纽约证券交易所上涨股与下跌股的比例为1.74比1；在纳斯达克，1.66比1的比率有利于上涨者。</blockquote></p><p>The S&amp;P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.</p><p><blockquote>标普500创下54个52周新高和1个新低；纳斯达克综合指数录得172个新高和16个新低。</blockquote></p><p>Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.</p><p><blockquote>美国交易所成交量为118.2亿股，而过去20个交易日的平均成交量为107.5亿股。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX\">reuters</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","CLOV":"Clover Health Corp"},"source_url":"https://www.reuters.com/article/usa-stocks/us-stocks-sp-500-closes-little-changed-as-meme-stocks-extend-rally-idUSL2N2NQ2NX","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128909306","content_text":"NEW YORK (Reuters) - Wall Street stocks struggled to eke out closing gains on Tuesday as a lack of clear market catalysts kept institutional investors on the sidelines, while retail traders fueled the ongoing meme stocks rally.All three major U.S. stock indexes ended the range-bound session near flat or higher, with the S&P 500 and the Dow closing within about 0.5% of record highs.The tech-laded Nasdaq Composite fared best, with Amazon.com Inc and Apple Inc providing the biggest boost.“We’re waiting for inflation numbers, waiting for more from the (Federal Reserve), waiting for earnings season,” said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. “There’s not a lot motivating the market today.”“We’re in this twilight zone until probably right after the Fourth of July, when we see earnings season kick in,” Nolte added.The CBOE volatility index, a measure of investor anxiety, touched its lowest level in over a year.Smallcaps, once again buoyed by the ongoing meme stock retail frenzy, were outperforming their larger counterparts.Clover Health Investments seized top billing among meme stocks, surging 85.8%, the biggest percentage winner in the Nasdaq.Other stocks whose recent explosive trading volumes have been attributed to social media buzz, including GameStop Corp, Bed Bath & Beyond Inc, Workhorse Group and others, ended the session between 7% and 12% higher.“(Meme stocks) are where the action is, but you flip it over and look crypto and that’s a mess,” Nolte said. “Now the meme stocks are taking over from crypto as the place to be and it’s all a consequence of very easy monetary policy.”Reports from the U.S. Labor Department and National Federation of Independent Business appeared to confirm a labor shortage even as demand roars back to life, which could put upward pressure on wages, a precursor to wider inflation.Market participants look to Thursday’s consumer price index data for further clues regarding inflation, and how it could influence the Federal Reserve’s timetable for tightening its monetary policy.The Dow Jones Industrial Average fell 30.42 points, or 0.09%, to 34,599.82; the S&P 500 gained 0.74 points, or 0.02%, at 4,227.26; and the Nasdaq Composite added 43.19 points, or 0.31%, at 13,924.91.Of the 11 major sectors in the S&P 500, consumer discretionary enjoyed the biggest percentage gain, and utilities suffered the largest loss.Sales of Tesla Inc’s China-made electric cars jumped in May by 29%, marking a 177% year-on-year increase, according to the China Passenger Car Association. The stock erased initial gains on the news to close down 0.3%.Boeing Co shares were boosted by Southwest Airlines’ announcement that it had ordered 34 new 737 MAX aircraft, but the planemaker’s shares pared gains to end the session flat.GameStop, the company most closely associated with the Reddit-driven short squeeze phenomenon, is expected to report quarterly results after markets close on Wednesday.Advancing issues outnumbered decliners on the NYSE by a 1.74-to-1 ratio; on Nasdaq, a 1.66-to-1 ratio favored advancers.The S&P 500 posted 54 new 52-week highs and one new low; the Nasdaq Composite recorded 172 new highs and 16 new lows.Volume on U.S. exchanges was 11.82 billion shares, compared with the 10.75 billion average over the last 20 trading days.","news_type":1,"symbols_score_info":{".SPX":0.9,"CLOV":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115136752,"gmtCreate":1622957264476,"gmtModify":1634096578310,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/115136752","repostId":"1106312903","repostType":4,"repost":{"id":"1106312903","kind":"news","pubTimestamp":1622855773,"share":"https://www.laohu8.com/m/news/1106312903?lang=zh_CN&edition=full","pubTime":"2021-06-05 09:16","market":"us","language":"en","title":"U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1106312903","media":"Renaissance Capital","summary":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental h","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>","source":"lsy1603787993745","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>U.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</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\">\nU.S. IPO Week Ahead: Digital Payments, Mental Health Services, And More In A Diverse 8 IPO<blockquote>未来一周的美国IPO：多元化的8次IPO中的数字支付、心理健康服务等</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Renaissance Capital</strong><span class=\"h-time small\">2021-06-05 09:16</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</li>  <li>Payments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.</li>  <li>Chinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.</li> </ul> Eight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.</p><p><blockquote><ul><li>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</li><li>支付平台Marqeta计划以124亿美元的市值筹集10亿美元。</li><li>中国在线招聘平台看准计划以82亿美元的市值筹集8.64亿美元。</li></ul>目前有八起IPO计划筹集37亿美元，涉及数字支付、心理健康服务等领域。</blockquote></p><p> Payments platform&nbsp;<b>Marqeta</b>(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.</p><p><blockquote>支付平台<b>马尔凯塔</b>(MQ)计划以124亿美元的市值筹集10亿美元。该公司的平台允许企业启动和管理自己的卡计划，向客户或最终用户发行卡，以及授权和结算交易。Marqeta发展迅速，其客户包括Affirm(AFRM)和DoorDash(DASH)等品牌。</blockquote></p><p> Chinese online recruitment platform&nbsp;<b>Kanzhun</b>(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.</p><p><blockquote>中文在线招聘平台<b>看准</b>(BZ)计划以82亿美元的市值筹集8.64亿美元。看准的核心产品BOSS直聘是一个移动原生平台，促进求职者和企业客户之间的直接聊天。该公司声称，按月活跃用户数计算，它是2020年中国最大的在线招聘平台。</blockquote></p><p> Mental health services provider&nbsp;<b>LifeStance Health</b>(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.</p><p><blockquote>心理健康服务提供者<b>生命健康</b>(LFST)计划以61亿美元的市值筹集6.4亿美元。LifeStance表示，截至2021年3月31日，它已经建立了美国最大的门诊心理健康平台之一，在27个州的73个MSA中雇用了3,300多名持牌心理健康临床医生。尽管2021年第一季度的息税前利润转为负值，但该公司仍实现了增长。</blockquote></p><p> Israel’s&nbsp;<b>monday.com</b>(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.</p><p><blockquote>以色列的<b>周一网</b>(MNDY)计划以68亿美元的市值筹集4.9亿美元。monday.com允许组织轻松构建满足其需求的软件应用程序和工作管理工具。截至2021年3月31日，它为190多个国家200多个行业的近128,000名客户提供服务。Salesforce和Zoom计划同时进行私募，总共投资1.5亿美元。</blockquote></p><p> BPO vendor&nbsp;<b>TaskUs</b>(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.</p><p><blockquote>BPO供应商<b>塔斯库斯</b>(TASK)计划以25亿美元的市值筹集3.04亿美元。TaskUs是一家数字商业服务外包商，提供数字客户体验服务、内容安全服务和人工智能运营。截至2020年12月31日，该公司盈利强劲，增长强劲，拥有100多家客户。</blockquote></p><p> Data-driven marketing platform&nbsp;<b>Zeta Global</b>(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.</p><p><blockquote>数据驱动营销平台<b>泽塔全球</b>(ZETA)计划以21亿美元的市值筹集2.5亿美元。该公司的Zeta营销平台使用身份数据通过电子邮件、社交媒体、网络、聊天、联网电视、视频和其他渠道锁定、联系和吸引消费者。Zeta已实现盈利，为1,000多家客户提供服务，2020年提供约5亿次广告展示。</blockquote></p><p> Online luxury goods marketplace&nbsp;<b>1stDibs</b>(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.</p><p><blockquote>网上奢侈品市场<b>第一个</b>(DIBS)计划以7.73亿美元的市值筹集1.12亿美元。1stDibs连接复古、古董和当代家具、家居装饰、珠宝、手表、艺术和时尚的买家和卖家。2020年，该市场有超过58,000名买家在过去一年中进行了购买，平均每年的总购买额超过5,500美元。</blockquote></p><p> Chinese online tutoring platform&nbsp;<b>Zhangmen Education</b>(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.</p><p><blockquote>中文在线辅导平台<b>掌门教育</b>(ZME)计划以19亿美元的市值筹集4300万美元。掌门教育表示，自2017年以来，按收入计算，它一直是中国最大的在线K-12辅导服务提供商，2020年市场份额为32%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/d771f02e44d9d489ff772f1577280332\" tg-width=\"945\" tg-height=\"666\"></p><p><blockquote></blockquote></p><p> Street research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.</p><p><blockquote>预计将有6家公司接受街头调查，多达11家公司的禁售期将到期。</blockquote></p><p> <b>IPO Market Snapshot</b></p><p><blockquote><b>IPO市场快照</b></blockquote></p><p> The Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&amp;P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.</p><p><blockquote>文艺复兴IPO指数是新上市公司的市值加权篮子。截至2011年6月3日，文艺复兴IPO指数今年迄今下跌6.0%，而标普500上涨11.6%。Renaissance Capital的IPO ETF（纽约证券交易所股票代码：IPO）跟踪该指数，持有最多的ETF包括Zoom Video（ZM）和优步（UBER）。Renaissance International IPO指数今年迄今下跌1.1%，而ACWX指数上涨10.5%。Renaissance Capital的国际IPO ETF（纽约证券交易所股票代码：IPOS）跟踪该指数，持有最多的ETF包括Nexi和EQT Partners。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div\">Renaissance Capital</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":{".SPX":"S&P 500 Index","BZ":"BOSS直聘","ZETA":"Zeta Global Holdings Corp.",".DJI":"道琼斯","MNDY":"Monday.com Ltd.",".IXIC":"NASDAQ Composite","DIBS":"1stdibs.com Inc.","LFST":"LifeStance Health Group, Inc.","MQ":"Marqeta, Inc.","TASK":"TaskUs Inc.","ZME":"掌门教育"},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/82421/US-IPO-Week-Ahead-Digital-payments-mental-health-services-and-more-in-a-div","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106312903","content_text":"Summary\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta plans to raise $1.0 billion at a $12.4 billion market cap.\nChinese online recruitment platform Kanzhun plans to raise $864 million at an $8.2 billion market cap.\n\nEight IPOs are currently slated to raise $3.7 billion, featuring digital payments, mental health services, and more.\nPayments platform Marqeta(MQ) plans to raise $1.0 billion at a $12.4 billion market cap. The company's platform allows businesses to launch and manage their own card programs, issue cards to their customers or end users, and authorize and settle transactions. Marqeta is fast growing and counts names like Affirm (AFRM) and DoorDash (DASH) among its customers.\nChinese online recruitment platform Kanzhun(BZ) plans to raise $864 million at an $8.2 billion market cap. Kanzhun's core product, BOSS Zhipin, is a mobile-native platform that promotes direct chats between job seekers and enterprise clients. The company claims it was the largest online recruitment platform in China by MAUs in 2020.\nMental health services provider LifeStance Health(LFST) plans to raise $640 million at a $6.1 billion market cap. LifeStance states that it has built one of the nation's largest outpatient mental health platforms, employing over 3,300 licensed mental health clinicians across 73 MSAs in 27 states as of March 31, 2021. The company has demonstrated growth, though EBIT turned negative in the 1Q21.\nIsrael’s monday.com(MNDY) plans to raise $490 million at a $6.8 billion market cap. monday.com allows organizations to easily build software applications and work management tools that fit their needs. As of March 31, 2021, it served nearly 128,000 customers across over 200 industries in more than 190 countries. Salesforce and Zoom plan to invest a combined $150 million in a concurrent private placement.\nBPO vendor TaskUs(TASK) plans to raise $304 million at a $2.5 billion market cap. TaskUs is a digital business services outsourcer, providing digital customer experience services, content security services, and artificial intelligence operations. Profitable with strong growth, the company had over 100 clients as of December 31, 2020.\nData-driven marketing platform Zeta Global(ZETA) plans to raise $250 million at a $2.1 billion market cap. The company’s Zeta Marketing Platform uses identity data to target, connect, and engage consumers across email, social media, web, chat, connected TV, video, and other channels. Zeta is profitable and serves more than 1,000 customers, delivering roughly 500 million ad impressions in 2020.\nOnline luxury goods marketplace 1stDibs(DIBS) plans to raise $112 million at a $773 million market cap. 1stDibs connects buyers and sellers of vintage, antique, and contemporary furniture, home decor, jewelry, watches, art, and fashion. In 2020, the marketplace had more than 58,000 buyers who had made a purchase in the past year, with an average aggregate purchase per year of over $5,500.\nChinese online tutoring platform Zhangmen Education(ZME) plans to raise $43 million at a $1.9 billion market cap. Zhangmen Education states that it has been the largest online K-12 tutoring service provider in China by revenue since 2017, claiming a 32% market share in 2020.\n\nStreet research is expected for six companies, and lock-up periods will be expiring for up to 11 companies.\nIPO Market Snapshot\nThe Renaissance IPO Indices are market cap weighted baskets of newly public companies. As of 6/3/21, the Renaissance IPO Index was down 6.0% year-to-date, while the S&P 500 was up 11.6%. Renaissance Capital's IPO ETF (NYSE: IPO) tracks the index, and top ETF holdings include Zoom Video (ZM) and Uber (UBER). The Renaissance International IPO Index was down 1.1% year-to-date, while the ACWX was up 10.5%. Renaissance Capital’s International IPO ETF (NYSE: IPOS) tracks the index, and top ETF holdings include Nexi and EQT Partners.","news_type":1,"symbols_score_info":{"ZME":0.9,".IXIC":0.9,"LFST":0.9,".DJI":0.9,"DIBS":0.9,"TASK":0.9,"MQ":0.9,"ZETA":0.9,"BZ":0.9,".SPX":0.9,"MNDY":0.9}},"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":132958758,"gmtCreate":1622068690774,"gmtModify":1634184270772,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Reply pls","listText":"Reply pls","text":"Reply pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/132958758","repostId":"2138143109","repostType":4,"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371791605,"gmtCreate":1618969755907,"gmtModify":1634289523731,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/371791605","repostId":"1193736432","repostType":4,"isVote":1,"tweetType":1,"viewCount":553,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379560960,"gmtCreate":1618763913350,"gmtModify":1634291050369,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/379560960","repostId":"1162662309","repostType":4,"repost":{"id":"1162662309","kind":"news","pubTimestamp":1618762645,"share":"https://www.laohu8.com/m/news/1162662309?lang=zh_CN&edition=full","pubTime":"2021-04-19 00:17","market":"us","language":"en","title":"Stocks To Watch: Apple Event, Disney Callout And Earnings Blitz<blockquote>值得关注的股票：苹果活动、迪士尼预告和盈利闪电战</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1162662309","media":"seekingalpha","summary":"Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the this week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. A podcast of Stocks to Watch is also available on Sundays onSeeking Alpha,Apple Podcasts,StitcherandSpotify.Economic reports due out this week include the latest updates on existing home sales, new home sales, jobless claims and PMI. Big earnings reports blast in every day this week across ","content":"<p>Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the this week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. A podcast of Stocks to Watch is also available on Sundays onSeeking Alpha,Apple Podcasts,StitcherandSpotify(click the highlighted links).</p><p><blockquote>欢迎来到Seeking Alpha的股票观看-本周计划的关键事件预览。关注此帐户并打开电子邮件提醒，每周六早上在您的收件箱中收到这篇文章。周日还可以在Seeking Alpha、苹果播客、Stitcher和Spotify上观看值得关注的股票播客（单击突出显示的链接）。</blockquote></p><p>Economic reports due out this week include the latest updates on existing home sales, new home sales, jobless claims and PMI. Big earnings reports blast in every day this week across sectors. Of note, the follow-up conference calls from Coca-Cola(NYSE:KO), Netflix(NASDAQ:NFLX)and Intel(NASDAQ:INTC)could be on the interesting side. On the vaccine front, the Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices is expected to meet late this week to consider recommendations for Johnson &amp; Johnson's(NYSE:JNJ)shot, which has been linked to rare blood clots in the brain.</p><p><blockquote>本周将发布的经济报告包括成屋销售、新屋销售、初请失业金人数和PMI的最新数据。本周各行业每天都会发布大型盈利报告。值得注意的是，可口可乐（纽约证券交易所股票代码：KO）、Netflix（纳斯达克股票代码：NFLX）和英特尔（纳斯达克股票代码：INTC）的后续会议评级可能会很有趣。在疫苗方面，美国疾病控制与预防中心免疫实践咨询委员会预计将于本周晚些时候召开会议，考虑强生公司（纽约证券交易所股票代码：JNJ）疫苗的建议，该疫苗与大脑中罕见的血栓有关。</blockquote></p><p><b>Earnings spotlight:</b>&nbsp;Earnings season heats up in a big way with reports due in from Coca-Cola (KO), IBM(NYSE:IBM)and United Airlines(NASDAQ:UAL)on April 19; Johnson &amp; Johnson (JNJ), Procter &amp; Gamble(NYSE:PG), Philip Morris International(NYSE:PM), Abbott Labs(NYSE:ABT)and Netflix (NFLX) on April 20; Anthem(NYSE:ANTM), Verizon(NYSE:VZ), Chipotle(NYSE:CMG)and Lam Research(NASDAQ:LRCX)on April 21; AT&amp;T(NYSE:T), Dow(NYSE:DOW), Intel (INTC), Seagate Tech(NASDAQ:STX)and Mattel(NASDAQ:MAT)on April 22; as well as American Express(NYSE:AXP)and Honeywell(NYSE:HON)on April 23.</p><p><blockquote><b>盈利聚焦：</b>随着可口可乐(KO)、IBM(NYSE：IBM)和联合航空(纳斯达克：UAL)将于4月19日发布报告，财报季大幅升温；4月20日，强生公司(JNJ)、宝洁公司(NYSE：PG)、菲利普莫里斯国际公司(NYSE：PM)、雅培实验室(NYSE：ABT)和Netflix(NFLX)；Anthem（纽约证券交易所股票代码：ANTM）、Verizon（纽约证券交易所股票代码：VZ）、Chipotle（纽约证券交易所股票代码：CMG）和Lam Research（纳斯达克股票代码：LRCX）4月21日；AT&amp;T（纽约证券交易所股票代码：T）、陶氏化学（纽约证券交易所股票代码：DOW）、英特尔（INTC）、希捷科技（纳斯达克股票代码：STX）和美泰（纳斯达克股票代码：MAT）4月22日；以及4月23日的美国运通（纽约证券交易所股票代码：AXP）和霍尼韦尔（纽约证券交易所股票代码：HON）。</blockquote></p><p><img src=\"https://static.tigerbbs.com/522c9bdad799a71c4e6bad965f9f00f3\" tg-width=\"1530\" tg-height=\"650\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>IPO watch:</b>&nbsp;IPOs expected to start trading during the week include UiPAth (PATH), DoubleVerify (DV) and NeuroPace (NPCE) on April 20, as well as Zymergern (ZY) and KnowBe4 (KNBE) on April 22. IPO lockup periods expire on Datto Holding(NYSE:MSP), Topaz Energy(NYSE:TPZ), McAfee(NASDAQ:MCFE), Guild Holdings(NYSE:GHLD), Foghorn Therapeutics(NASDAQ:FHTX)and ComSovereign Holding(NASDAQ:COMS). The analyst quiet period expires on ThredUp(NASDAQ:TDUP)on April 20 to free up analysts to post ratings. Shares of Trip.com(NASDAQ:TRIP)will begin trading in Hong Kong this week following a new listing.</p><p><blockquote><b>IPO观察：</b>预计本周开始交易的IPO包括4月20日的UiPAth(PATH)、DoubleVerify(DV)和NeuroPace(NPCE)，以及4月22日的Zymergern(ZY)和KnowBe4(KNBE)。Datto Holding(NYSE：MSP)、Topaz Energy(NYSE：TPZ)、McAfee(纳斯达克：MCFE)、Guild Holdings(NYSE：GHLD)、Foghorn Therapeutics(纳斯达克：FHTX)和ComSovereign Holding(纳斯达克：COMS）。ThredUp（纳斯达克股票代码：TDUP）的分析师静默期将于4月20日到期，以便分析师可以发布评级。携程（纳斯达克股票代码：TRIP）的股票将于本周在香港上市后开始交易。</blockquote></p><p><b>Apple event:</b>&nbsp;Apple(NASDAQ:AAPL)holds an event on April 20 called \"Spring Loaded\" to show off new products. Information out of Cupertino has been pretty tight, but the company could reveal new iPads, new iMacs, new AirPods, AirTags, a new Apple TV and possibly a new Apple Pencil.</p><p><blockquote><b>苹果事件：</b>苹果（纳斯达克：AAPL）将于4月20日举办名为“Spring Loaded”的活动，展示新产品。来自库比蒂诺的信息相当紧张，但该公司可能会发布新的iPad、新的iMac、新的AirPods、AirTags、新的苹果电视，可能还有新的苹果铅笔。</blockquote></p><p><b>Projected dividend increases (quarterly):</b>&nbsp;Expected dividend boosts for the week include Comfort Systems USA(NYSE:FIX)to $0.125 from $0.1115, HP Enterprise(NYSE:HPE)to $0.1275 from $0.12, Pool Corp(NASDAQ:POOL)to $0.61 from $0.58, Johnson &amp; Johnson to $1.06 from $1.01, Travelers(NYSE:TRV)to $0.88 from $0.85, Southern Company(NYSE:SO)to $0.66 from $0.64, Kinder Morgan(NYSE:KMI)to $0.27 from $0.2625 and Nasdaq(NASDAQ:NDAQ)to $0.50 from $0.49.</p><p><blockquote><b>预计股息增加（季度）：</b>预计本周股息上调包括Comfort Systems USA(NYSE：FIX)从0.1115美元上调至0.125美元，HP Enterprise(NYSE：HPE)从0.12美元上调至0.1275美元，Pool Corp(纳斯达克：POOL)从0.58美元上调至0.61美元，强生公司(NYSE：TRV)从0.85美元上调至0.88美元，南方公司(NYSE：SO)从0.64美元上调至0.66美元，金德摩根(NYSE：KMI)从0.2625美元上调至0.27美元，纳斯达克(纳斯达克：NDAQ)从0.49美元上调至0.50美元。</blockquote></p><p><b>M&amp;A tidbits:</b>&nbsp;The highly-anticipated Aphria(NASDAQ:APHA)-Tilray(NASDAQ:TLRY)merger is expected to close on April 20. The tender offer on the GenMark Diagnostics(NASDAQ:GNMK)-Roche(OTCQX:RHHBY)deal expires on April 21. GW Pharmaceuticals(NASDAQ:GWPH)shareholders vote on the Jazz Pharmaceuticals(NASDAQ:JAZZ)deal on April 23.</p><p><blockquote><b>并购花絮：</b>备受期待的Aphria（纳斯达克：APHA）-Tilray（纳斯达克：TLRY）合并预计将于4月20日完成。GenMark Diagnostics（纳斯达克：GNMK）-罗氏（OTCQX：RHHBY）交易的要约收购将于4月21日到期。GW Pharmaceuticals（纳斯达克股票代码：GWPH）股东将于4月23日就Jazz Pharmaceuticals（纳斯达克股票代码：JAZZ）交易进行投票。</blockquote></p><p><b>ARK Invest watch:</b>&nbsp;Investors may want to keep an eye on Coinbase Global(NASDAQ:COIN)after ARK Invest came in Friday with a purchase of 19,599 shares for the ARK Fintech Innovation ETF(NYSEARCA:ARKF)and 112,539 shares for the ARK Innovation ETF(NYSEARCA:ARKK). Cathie Wood's firm also defended Silvergate(NYSE:SI)after its mid-week stumble likely in response to the Coinbase IPO. \"Investors potentially took profits to diversify their exposure to crypto in the public markets. \"In our view, the Silvergate Exchange Network, with its strong network effects, positions Silvergate as both a facilitator and a prime beneficiary of increased crypto adoption,\" ARK reasons.</p><p><blockquote><b>方舟投资观察：</b>在ARK Invest周五购买了19,599股ARK Fintech Innovation ETF（NYSEARCA：ARKF）和112,539股ARK Innovation ETF（NYSEARCA：ARKF）后，投资者可能需要关注Coinbase Global（纳斯达克：COIN）：ARKK）。Cathie Wood的公司还为Silvergate(NYSE：SI)进行了辩护，此前Silvergate(NYSE：SI)在周中因Coinbase IPO而出现失误。“投资者可能会获利了结，以分散他们在公开市场上对加密货币的投资。”我们认为，Silvergate交换网络凭借其强大的网络效应，使Silvergate既是加密货币采用增加的推动者，也是主要受益者，”ARK解释道。</blockquote></p><p><b>Corporate spotlight:</b>&nbsp;Major events this week include strategic updates from Advance Auto Parts(NYSE:AAP)and Royal Gold(NYSE:GOLD)on April 20, as well as investor days for Dye &amp; Durham(OTC:DYNDF)and SMART Global(NASDAQ:SGH). On April 21, MGM Resorts(NYSE:MGM)and Entain(OTCPK:GMVHF)along with their U.S. venture BetMGM will host a business update event for analysts and investors. The event will provide deeper insights into the rapidly growing U.S. sports betting and iGaming business of BetMGM. A new forecast on the industry's total addressable market could be a share price catalyst for DraftKings(NASDAQ:DKNG)and Penn National Gaming(NASDAQ:PENN)as well. Check outSeeking Alpha's Catalyst Watch for a detailed list of more events to watch.</p><p><blockquote><b>企业聚焦：</b>本周的重大活动包括Advance Auto Parts(NYSE：AAP)和Royal Gold(NYSE：GOLD)4月20日的战略更新，以及Dye&amp;Durham(OTC：DYNDF)和SMART Global(纳斯达克：SGH)的投资者日。4月21日，米高梅度假村(NYSE：MGM)和Entain(OTCPK：GMVHF)及其美国合资企业BetMGM将为分析师和投资者举办业务更新活动。该活动将让人们更深入地了解BetMGM快速增长的美国体育博彩和iGaming业务。对该行业总潜在市场的新预测也可能成为DraftKings（纳斯达克：DKNG）和Penn National Gaming（纳斯达克：PENN）的股价催化剂。查看outSeeking Alpha的Catalyst Watch，了解更多值得关注的活动的详细列表。</blockquote></p><p></p><p><b>Conferences rundown:</b>&nbsp;Notable conferences running during the week include the H.C Wainwright Spring Mining Conference, Linley Spring Processor Conference 2021, the Kempen Life Sciences Conference, the Jefferies Microbiome-based Therapeutics Summit 2021 and the Stifel GMP &amp; Stifel First Energy Canada Cross Sector Insight Conference 2021. Check outSeeking Alpha's Catalyst Watch for a detailed list of events to watch.</p><p><blockquote><b>会议概要：</b>本周举行的著名会议包括H.C Wainwright春季采矿会议、2021年Linley春季处理器会议、Kempen生命科学会议、2021年Jefferies基于微生物组的治疗峰会以及2021年Stifel GMP和Stifel First Energy Canada跨部门洞察会议。查看outSeeking Alpha的Catalyst手表，了解要观看的事件的详细列表。</blockquote></p><p><b>Barron's mentions:</b>&nbsp;Disney(NYSE:DIS)makes the cover of Barron's this week as the media giant is given credit for positioning itself for post-COVID growth. Disney is said to have come out ahead after CEO Bob Chapek and team faced the severest of financial stress tests. \"When parks and theaters emptied out a year ago, costs kept rolling in, and the fastest-growing part of the business, streaming, was consuming cash—as it still is. Yet, Disney generated $3.6 billion in free cash during its fiscal year ended last September. It’s seen producing $3.3 billion this year before the numbers begin a sharp rebound,\" notes Jack Hough. While the movie business is still sputtering to restart and the TV business is seen holding steady at best, streaming results have shattered forecasts. Disney+ smashed expectations in piling up 100M in less than 18 months, compared to the 10 years it took Netflix to hit that level. Disney is targeting 300M to 350M subscribers by 2024 across all of its streaming platforms, including Hulu, ESPN+, Hotstar in India, and Star+ in Latin America (launches in June). PetIQ(NASDAQ:PETQ)and O'Reilly Automotive(NASDAQ:ORLY)also land favorable write-ups this week.</p><p><blockquote><b>《巴伦周刊》提到：</b>迪士尼（纽约证券交易所股票代码：DIS）本周登上了《巴伦周刊》的封面，这家媒体巨头因为新冠疫情后的增长做好了定位而受到赞誉。据说，在首席执行官鲍勃·查佩克和团队面临最严峻的财务压力测试后，迪士尼脱颖而出。“一年前，当公园和剧院空无一人时，成本不断滚滚而来，流媒体业务增长最快的部分正在消耗现金——现在仍然如此。然而，迪士尼在截至去年9月的财年中产生了36亿美元的自由现金。在数字开始大幅反弹之前，今年的收入为33亿美元，”杰克·霍夫指出。虽然电影业务仍在艰难重启，电视业务充其量也保持稳定，但流媒体业绩却超出了预期。Disney+在不到18个月的时间里积累了1亿美元，超出了预期，而Netflix花了10年时间才达到这一水平。迪士尼的目标是到2024年在其所有流媒体平台上拥有3亿至3.5亿用户，包括印度的Hulu、ESPN+、Hotstar和拉丁美洲的Star+（6月推出）。PetIQ（纳斯达克股票代码：PETQ）和O’Reilly Automotive（纳斯达克股票代码：ORLY）本周也获得了好评。</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>Stocks To Watch: Apple Event, Disney Callout And Earnings Blitz<blockquote>值得关注的股票：苹果活动、迪士尼预告和盈利闪电战</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\">\nStocks To Watch: Apple Event, Disney Callout And Earnings Blitz<blockquote>值得关注的股票：苹果活动、迪士尼预告和盈利闪电战</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-04-19 00:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the this week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. A podcast of Stocks to Watch is also available on Sundays onSeeking Alpha,Apple Podcasts,StitcherandSpotify(click the highlighted links).</p><p><blockquote>欢迎来到Seeking Alpha的股票观看-本周计划的关键事件预览。关注此帐户并打开电子邮件提醒，每周六早上在您的收件箱中收到这篇文章。周日还可以在Seeking Alpha、苹果播客、Stitcher和Spotify上观看值得关注的股票播客（单击突出显示的链接）。</blockquote></p><p>Economic reports due out this week include the latest updates on existing home sales, new home sales, jobless claims and PMI. Big earnings reports blast in every day this week across sectors. Of note, the follow-up conference calls from Coca-Cola(NYSE:KO), Netflix(NASDAQ:NFLX)and Intel(NASDAQ:INTC)could be on the interesting side. On the vaccine front, the Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices is expected to meet late this week to consider recommendations for Johnson &amp; Johnson's(NYSE:JNJ)shot, which has been linked to rare blood clots in the brain.</p><p><blockquote>本周将发布的经济报告包括成屋销售、新屋销售、初请失业金人数和PMI的最新数据。本周各行业每天都会发布大型盈利报告。值得注意的是，可口可乐（纽约证券交易所股票代码：KO）、Netflix（纳斯达克股票代码：NFLX）和英特尔（纳斯达克股票代码：INTC）的后续会议评级可能会很有趣。在疫苗方面，美国疾病控制与预防中心免疫实践咨询委员会预计将于本周晚些时候召开会议，考虑强生公司（纽约证券交易所股票代码：JNJ）疫苗的建议，该疫苗与大脑中罕见的血栓有关。</blockquote></p><p><b>Earnings spotlight:</b>&nbsp;Earnings season heats up in a big way with reports due in from Coca-Cola (KO), IBM(NYSE:IBM)and United Airlines(NASDAQ:UAL)on April 19; Johnson &amp; Johnson (JNJ), Procter &amp; Gamble(NYSE:PG), Philip Morris International(NYSE:PM), Abbott Labs(NYSE:ABT)and Netflix (NFLX) on April 20; Anthem(NYSE:ANTM), Verizon(NYSE:VZ), Chipotle(NYSE:CMG)and Lam Research(NASDAQ:LRCX)on April 21; AT&amp;T(NYSE:T), Dow(NYSE:DOW), Intel (INTC), Seagate Tech(NASDAQ:STX)and Mattel(NASDAQ:MAT)on April 22; as well as American Express(NYSE:AXP)and Honeywell(NYSE:HON)on April 23.</p><p><blockquote><b>盈利聚焦：</b>随着可口可乐(KO)、IBM(NYSE：IBM)和联合航空(纳斯达克：UAL)将于4月19日发布报告，财报季大幅升温；4月20日，强生公司(JNJ)、宝洁公司(NYSE：PG)、菲利普莫里斯国际公司(NYSE：PM)、雅培实验室(NYSE：ABT)和Netflix(NFLX)；Anthem（纽约证券交易所股票代码：ANTM）、Verizon（纽约证券交易所股票代码：VZ）、Chipotle（纽约证券交易所股票代码：CMG）和Lam Research（纳斯达克股票代码：LRCX）4月21日；AT&amp;T（纽约证券交易所股票代码：T）、陶氏化学（纽约证券交易所股票代码：DOW）、英特尔（INTC）、希捷科技（纳斯达克股票代码：STX）和美泰（纳斯达克股票代码：MAT）4月22日；以及4月23日的美国运通（纽约证券交易所股票代码：AXP）和霍尼韦尔（纽约证券交易所股票代码：HON）。</blockquote></p><p><img src=\"https://static.tigerbbs.com/522c9bdad799a71c4e6bad965f9f00f3\" tg-width=\"1530\" tg-height=\"650\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>IPO watch:</b>&nbsp;IPOs expected to start trading during the week include UiPAth (PATH), DoubleVerify (DV) and NeuroPace (NPCE) on April 20, as well as Zymergern (ZY) and KnowBe4 (KNBE) on April 22. IPO lockup periods expire on Datto Holding(NYSE:MSP), Topaz Energy(NYSE:TPZ), McAfee(NASDAQ:MCFE), Guild Holdings(NYSE:GHLD), Foghorn Therapeutics(NASDAQ:FHTX)and ComSovereign Holding(NASDAQ:COMS). The analyst quiet period expires on ThredUp(NASDAQ:TDUP)on April 20 to free up analysts to post ratings. Shares of Trip.com(NASDAQ:TRIP)will begin trading in Hong Kong this week following a new listing.</p><p><blockquote><b>IPO观察：</b>预计本周开始交易的IPO包括4月20日的UiPAth(PATH)、DoubleVerify(DV)和NeuroPace(NPCE)，以及4月22日的Zymergern(ZY)和KnowBe4(KNBE)。Datto Holding(NYSE：MSP)、Topaz Energy(NYSE：TPZ)、McAfee(纳斯达克：MCFE)、Guild Holdings(NYSE：GHLD)、Foghorn Therapeutics(纳斯达克：FHTX)和ComSovereign Holding(纳斯达克：COMS）。ThredUp（纳斯达克股票代码：TDUP）的分析师静默期将于4月20日到期，以便分析师可以发布评级。携程（纳斯达克股票代码：TRIP）的股票将于本周在香港上市后开始交易。</blockquote></p><p><b>Apple event:</b>&nbsp;Apple(NASDAQ:AAPL)holds an event on April 20 called \"Spring Loaded\" to show off new products. Information out of Cupertino has been pretty tight, but the company could reveal new iPads, new iMacs, new AirPods, AirTags, a new Apple TV and possibly a new Apple Pencil.</p><p><blockquote><b>苹果事件：</b>苹果（纳斯达克：AAPL）将于4月20日举办名为“Spring Loaded”的活动，展示新产品。来自库比蒂诺的信息相当紧张，但该公司可能会发布新的iPad、新的iMac、新的AirPods、AirTags、新的苹果电视，可能还有新的苹果铅笔。</blockquote></p><p><b>Projected dividend increases (quarterly):</b>&nbsp;Expected dividend boosts for the week include Comfort Systems USA(NYSE:FIX)to $0.125 from $0.1115, HP Enterprise(NYSE:HPE)to $0.1275 from $0.12, Pool Corp(NASDAQ:POOL)to $0.61 from $0.58, Johnson &amp; Johnson to $1.06 from $1.01, Travelers(NYSE:TRV)to $0.88 from $0.85, Southern Company(NYSE:SO)to $0.66 from $0.64, Kinder Morgan(NYSE:KMI)to $0.27 from $0.2625 and Nasdaq(NASDAQ:NDAQ)to $0.50 from $0.49.</p><p><blockquote><b>预计股息增加（季度）：</b>预计本周股息上调包括Comfort Systems USA(NYSE：FIX)从0.1115美元上调至0.125美元，HP Enterprise(NYSE：HPE)从0.12美元上调至0.1275美元，Pool Corp(纳斯达克：POOL)从0.58美元上调至0.61美元，强生公司(NYSE：TRV)从0.85美元上调至0.88美元，南方公司(NYSE：SO)从0.64美元上调至0.66美元，金德摩根(NYSE：KMI)从0.2625美元上调至0.27美元，纳斯达克(纳斯达克：NDAQ)从0.49美元上调至0.50美元。</blockquote></p><p><b>M&amp;A tidbits:</b>&nbsp;The highly-anticipated Aphria(NASDAQ:APHA)-Tilray(NASDAQ:TLRY)merger is expected to close on April 20. The tender offer on the GenMark Diagnostics(NASDAQ:GNMK)-Roche(OTCQX:RHHBY)deal expires on April 21. GW Pharmaceuticals(NASDAQ:GWPH)shareholders vote on the Jazz Pharmaceuticals(NASDAQ:JAZZ)deal on April 23.</p><p><blockquote><b>并购花絮：</b>备受期待的Aphria（纳斯达克：APHA）-Tilray（纳斯达克：TLRY）合并预计将于4月20日完成。GenMark Diagnostics（纳斯达克：GNMK）-罗氏（OTCQX：RHHBY）交易的要约收购将于4月21日到期。GW Pharmaceuticals（纳斯达克股票代码：GWPH）股东将于4月23日就Jazz Pharmaceuticals（纳斯达克股票代码：JAZZ）交易进行投票。</blockquote></p><p><b>ARK Invest watch:</b>&nbsp;Investors may want to keep an eye on Coinbase Global(NASDAQ:COIN)after ARK Invest came in Friday with a purchase of 19,599 shares for the ARK Fintech Innovation ETF(NYSEARCA:ARKF)and 112,539 shares for the ARK Innovation ETF(NYSEARCA:ARKK). Cathie Wood's firm also defended Silvergate(NYSE:SI)after its mid-week stumble likely in response to the Coinbase IPO. \"Investors potentially took profits to diversify their exposure to crypto in the public markets. \"In our view, the Silvergate Exchange Network, with its strong network effects, positions Silvergate as both a facilitator and a prime beneficiary of increased crypto adoption,\" ARK reasons.</p><p><blockquote><b>方舟投资观察：</b>在ARK Invest周五购买了19,599股ARK Fintech Innovation ETF（NYSEARCA：ARKF）和112,539股ARK Innovation ETF（NYSEARCA：ARKF）后，投资者可能需要关注Coinbase Global（纳斯达克：COIN）：ARKK）。Cathie Wood的公司还为Silvergate(NYSE：SI)进行了辩护，此前Silvergate(NYSE：SI)在周中因Coinbase IPO而出现失误。“投资者可能会获利了结，以分散他们在公开市场上对加密货币的投资。”我们认为，Silvergate交换网络凭借其强大的网络效应，使Silvergate既是加密货币采用增加的推动者，也是主要受益者，”ARK解释道。</blockquote></p><p><b>Corporate spotlight:</b>&nbsp;Major events this week include strategic updates from Advance Auto Parts(NYSE:AAP)and Royal Gold(NYSE:GOLD)on April 20, as well as investor days for Dye &amp; Durham(OTC:DYNDF)and SMART Global(NASDAQ:SGH). On April 21, MGM Resorts(NYSE:MGM)and Entain(OTCPK:GMVHF)along with their U.S. venture BetMGM will host a business update event for analysts and investors. The event will provide deeper insights into the rapidly growing U.S. sports betting and iGaming business of BetMGM. A new forecast on the industry's total addressable market could be a share price catalyst for DraftKings(NASDAQ:DKNG)and Penn National Gaming(NASDAQ:PENN)as well. Check outSeeking Alpha's Catalyst Watch for a detailed list of more events to watch.</p><p><blockquote><b>企业聚焦：</b>本周的重大活动包括Advance Auto Parts(NYSE：AAP)和Royal Gold(NYSE：GOLD)4月20日的战略更新，以及Dye&amp;Durham(OTC：DYNDF)和SMART Global(纳斯达克：SGH)的投资者日。4月21日，米高梅度假村(NYSE：MGM)和Entain(OTCPK：GMVHF)及其美国合资企业BetMGM将为分析师和投资者举办业务更新活动。该活动将让人们更深入地了解BetMGM快速增长的美国体育博彩和iGaming业务。对该行业总潜在市场的新预测也可能成为DraftKings（纳斯达克：DKNG）和Penn National Gaming（纳斯达克：PENN）的股价催化剂。查看outSeeking Alpha的Catalyst Watch，了解更多值得关注的活动的详细列表。</blockquote></p><p></p><p><b>Conferences rundown:</b>&nbsp;Notable conferences running during the week include the H.C Wainwright Spring Mining Conference, Linley Spring Processor Conference 2021, the Kempen Life Sciences Conference, the Jefferies Microbiome-based Therapeutics Summit 2021 and the Stifel GMP &amp; Stifel First Energy Canada Cross Sector Insight Conference 2021. Check outSeeking Alpha's Catalyst Watch for a detailed list of events to watch.</p><p><blockquote><b>会议概要：</b>本周举行的著名会议包括H.C Wainwright春季采矿会议、2021年Linley春季处理器会议、Kempen生命科学会议、2021年Jefferies基于微生物组的治疗峰会以及2021年Stifel GMP和Stifel First Energy Canada跨部门洞察会议。查看outSeeking Alpha的Catalyst手表，了解要观看的事件的详细列表。</blockquote></p><p><b>Barron's mentions:</b>&nbsp;Disney(NYSE:DIS)makes the cover of Barron's this week as the media giant is given credit for positioning itself for post-COVID growth. Disney is said to have come out ahead after CEO Bob Chapek and team faced the severest of financial stress tests. \"When parks and theaters emptied out a year ago, costs kept rolling in, and the fastest-growing part of the business, streaming, was consuming cash—as it still is. Yet, Disney generated $3.6 billion in free cash during its fiscal year ended last September. It’s seen producing $3.3 billion this year before the numbers begin a sharp rebound,\" notes Jack Hough. While the movie business is still sputtering to restart and the TV business is seen holding steady at best, streaming results have shattered forecasts. Disney+ smashed expectations in piling up 100M in less than 18 months, compared to the 10 years it took Netflix to hit that level. Disney is targeting 300M to 350M subscribers by 2024 across all of its streaming platforms, including Hulu, ESPN+, Hotstar in India, and Star+ in Latin America (launches in June). PetIQ(NASDAQ:PETQ)and O'Reilly Automotive(NASDAQ:ORLY)also land favorable write-ups this week.</p><p><blockquote><b>《巴伦周刊》提到：</b>迪士尼（纽约证券交易所股票代码：DIS）本周登上了《巴伦周刊》的封面，这家媒体巨头因为新冠疫情后的增长做好了定位而受到赞誉。据说，在首席执行官鲍勃·查佩克和团队面临最严峻的财务压力测试后，迪士尼脱颖而出。“一年前，当公园和剧院空无一人时，成本不断滚滚而来，流媒体业务增长最快的部分正在消耗现金——现在仍然如此。然而，迪士尼在截至去年9月的财年中产生了36亿美元的自由现金。在数字开始大幅反弹之前，今年的收入为33亿美元，”杰克·霍夫指出。虽然电影业务仍在艰难重启，电视业务充其量也保持稳定，但流媒体业绩却超出了预期。Disney+在不到18个月的时间里积累了1亿美元，超出了预期，而Netflix花了10年时间才达到这一水平。迪士尼的目标是到2024年在其所有流媒体平台上拥有3亿至3.5亿用户，包括印度的Hulu、ESPN+、Hotstar和拉丁美洲的Star+（6月推出）。PetIQ（纳斯达克股票代码：PETQ）和O’Reilly Automotive（纳斯达克股票代码：ORLY）本周也获得了好评。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4419571-stocks-to-watch-apple-event-disney-callout-and-earnings-blitz\">seekingalpha</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","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://seekingalpha.com/article/4419571-stocks-to-watch-apple-event-disney-callout-and-earnings-blitz","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162662309","content_text":"Welcome to Seeking Alpha's Stocks to Watch - a preview of key events scheduled for the this week. Follow this account and turn the e-mail alert on to receive this article in your inbox every Saturday morning. A podcast of Stocks to Watch is also available on Sundays onSeeking Alpha,Apple Podcasts,StitcherandSpotify(click the highlighted links).Economic reports due out this week include the latest updates on existing home sales, new home sales, jobless claims and PMI. Big earnings reports blast in every day this week across sectors. Of note, the follow-up conference calls from Coca-Cola(NYSE:KO), Netflix(NASDAQ:NFLX)and Intel(NASDAQ:INTC)could be on the interesting side. On the vaccine front, the Centers for Disease Control and Prevention's Advisory Committee on Immunization Practices is expected to meet late this week to consider recommendations for Johnson & Johnson's(NYSE:JNJ)shot, which has been linked to rare blood clots in the brain.Earnings spotlight: Earnings season heats up in a big way with reports due in from Coca-Cola (KO), IBM(NYSE:IBM)and United Airlines(NASDAQ:UAL)on April 19; Johnson & Johnson (JNJ), Procter & Gamble(NYSE:PG), Philip Morris International(NYSE:PM), Abbott Labs(NYSE:ABT)and Netflix (NFLX) on April 20; Anthem(NYSE:ANTM), Verizon(NYSE:VZ), Chipotle(NYSE:CMG)and Lam Research(NASDAQ:LRCX)on April 21; AT&T(NYSE:T), Dow(NYSE:DOW), Intel (INTC), Seagate Tech(NASDAQ:STX)and Mattel(NASDAQ:MAT)on April 22; as well as American Express(NYSE:AXP)and Honeywell(NYSE:HON)on April 23.IPO watch: IPOs expected to start trading during the week include UiPAth (PATH), DoubleVerify (DV) and NeuroPace (NPCE) on April 20, as well as Zymergern (ZY) and KnowBe4 (KNBE) on April 22. IPO lockup periods expire on Datto Holding(NYSE:MSP), Topaz Energy(NYSE:TPZ), McAfee(NASDAQ:MCFE), Guild Holdings(NYSE:GHLD), Foghorn Therapeutics(NASDAQ:FHTX)and ComSovereign Holding(NASDAQ:COMS). The analyst quiet period expires on ThredUp(NASDAQ:TDUP)on April 20 to free up analysts to post ratings. Shares of Trip.com(NASDAQ:TRIP)will begin trading in Hong Kong this week following a new listing.Apple event: Apple(NASDAQ:AAPL)holds an event on April 20 called \"Spring Loaded\" to show off new products. Information out of Cupertino has been pretty tight, but the company could reveal new iPads, new iMacs, new AirPods, AirTags, a new Apple TV and possibly a new Apple Pencil.Projected dividend increases (quarterly): Expected dividend boosts for the week include Comfort Systems USA(NYSE:FIX)to $0.125 from $0.1115, HP Enterprise(NYSE:HPE)to $0.1275 from $0.12, Pool Corp(NASDAQ:POOL)to $0.61 from $0.58, Johnson & Johnson to $1.06 from $1.01, Travelers(NYSE:TRV)to $0.88 from $0.85, Southern Company(NYSE:SO)to $0.66 from $0.64, Kinder Morgan(NYSE:KMI)to $0.27 from $0.2625 and Nasdaq(NASDAQ:NDAQ)to $0.50 from $0.49.M&A tidbits: The highly-anticipated Aphria(NASDAQ:APHA)-Tilray(NASDAQ:TLRY)merger is expected to close on April 20. The tender offer on the GenMark Diagnostics(NASDAQ:GNMK)-Roche(OTCQX:RHHBY)deal expires on April 21. GW Pharmaceuticals(NASDAQ:GWPH)shareholders vote on the Jazz Pharmaceuticals(NASDAQ:JAZZ)deal on April 23.ARK Invest watch: Investors may want to keep an eye on Coinbase Global(NASDAQ:COIN)after ARK Invest came in Friday with a purchase of 19,599 shares for the ARK Fintech Innovation ETF(NYSEARCA:ARKF)and 112,539 shares for the ARK Innovation ETF(NYSEARCA:ARKK). Cathie Wood's firm also defended Silvergate(NYSE:SI)after its mid-week stumble likely in response to the Coinbase IPO. \"Investors potentially took profits to diversify their exposure to crypto in the public markets. \"In our view, the Silvergate Exchange Network, with its strong network effects, positions Silvergate as both a facilitator and a prime beneficiary of increased crypto adoption,\" ARK reasons.Corporate spotlight: Major events this week include strategic updates from Advance Auto Parts(NYSE:AAP)and Royal Gold(NYSE:GOLD)on April 20, as well as investor days for Dye & Durham(OTC:DYNDF)and SMART Global(NASDAQ:SGH). On April 21, MGM Resorts(NYSE:MGM)and Entain(OTCPK:GMVHF)along with their U.S. venture BetMGM will host a business update event for analysts and investors. The event will provide deeper insights into the rapidly growing U.S. sports betting and iGaming business of BetMGM. A new forecast on the industry's total addressable market could be a share price catalyst for DraftKings(NASDAQ:DKNG)and Penn National Gaming(NASDAQ:PENN)as well. Check outSeeking Alpha's Catalyst Watch for a detailed list of more events to watch.Conferences rundown: Notable conferences running during the week include the H.C Wainwright Spring Mining Conference, Linley Spring Processor Conference 2021, the Kempen Life Sciences Conference, the Jefferies Microbiome-based Therapeutics Summit 2021 and the Stifel GMP & Stifel First Energy Canada Cross Sector Insight Conference 2021. Check outSeeking Alpha's Catalyst Watch for a detailed list of events to watch.Barron's mentions: Disney(NYSE:DIS)makes the cover of Barron's this week as the media giant is given credit for positioning itself for post-COVID growth. Disney is said to have come out ahead after CEO Bob Chapek and team faced the severest of financial stress tests. \"When parks and theaters emptied out a year ago, costs kept rolling in, and the fastest-growing part of the business, streaming, was consuming cash—as it still is. Yet, Disney generated $3.6 billion in free cash during its fiscal year ended last September. It’s seen producing $3.3 billion this year before the numbers begin a sharp rebound,\" notes Jack Hough. While the movie business is still sputtering to restart and the TV business is seen holding steady at best, streaming results have shattered forecasts. Disney+ smashed expectations in piling up 100M in less than 18 months, compared to the 10 years it took Netflix to hit that level. Disney is targeting 300M to 350M subscribers by 2024 across all of its streaming platforms, including Hulu, ESPN+, Hotstar in India, and Star+ in Latin America (launches in June). PetIQ(NASDAQ:PETQ)and O'Reilly Automotive(NASDAQ:ORLY)also land favorable write-ups this week.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":886724311,"gmtCreate":1631627343133,"gmtModify":1631884371377,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Gogo","listText":"Gogo","text":"Gogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/886724311","repostId":"1155175288","repostType":4,"repost":{"id":"1155175288","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631627144,"share":"https://www.laohu8.com/m/news/1155175288?lang=zh_CN&edition=full","pubTime":"2021-09-14 21:45","market":"us","language":"en","title":"EV stocks rose in morning trading<blockquote>电动汽车股早盘上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155175288","media":"Tiger Newspress","summary":"EV stocks rose in morning trading.Tesla,Nio,Xpeng Motors and Li Auto climbed between 0.7% and 2%.Whi","content":"<p>EV stocks rose in morning trading.Tesla,Nio,Xpeng Motors and Li Auto&nbsp;climbed between 0.7% and 2%.While&nbsp;Lucid Group fell nearly 4%&nbsp;as&nbsp;an equity research analyst at Morgan Stanley initiated coverage of the company at underweight.</p><p><blockquote>电动汽车股早盘上涨。特斯拉、蔚来、小鹏汽车和理想汽车上涨0.7%至2%。而Lucid Group则下跌近4%，摩根士丹利股票研究分析师在跑输大盘开始对该公司进行报道。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df9a72b93885e07dad67e2dc86b0156a\" tg-width=\"410\" tg-height=\"483\" width=\"100%\" height=\"auto\"></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>EV stocks rose in morning trading<blockquote>电动汽车股早盘上涨</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\">\nEV stocks rose in morning trading<blockquote>电动汽车股早盘上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\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\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-09-14 21:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>EV stocks rose in morning trading.Tesla,Nio,Xpeng Motors and Li Auto&nbsp;climbed between 0.7% and 2%.While&nbsp;Lucid Group fell nearly 4%&nbsp;as&nbsp;an equity research analyst at Morgan Stanley initiated coverage of the company at underweight.</p><p><blockquote>电动汽车股早盘上涨。特斯拉、蔚来、小鹏汽车和理想汽车上涨0.7%至2%。而Lucid Group则下跌近4%，摩根士丹利股票研究分析师在跑输大盘开始对该公司进行报道。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df9a72b93885e07dad67e2dc86b0156a\" tg-width=\"410\" tg-height=\"483\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","XPEV":"小鹏汽车","NIO":"蔚来","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155175288","content_text":"EV stocks rose in morning trading.Tesla,Nio,Xpeng Motors and Li Auto climbed between 0.7% and 2%.While Lucid Group fell nearly 4% as an equity research analyst at Morgan Stanley initiated coverage of the company at underweight.","news_type":1,"symbols_score_info":{"LI":0.9,"XPEV":0.9,"NIO":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":298,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837297912,"gmtCreate":1629890981536,"gmtModify":1631891376118,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/837297912","repostId":"2162087564","repostType":4,"isVote":1,"tweetType":1,"viewCount":563,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":832117906,"gmtCreate":1629598104805,"gmtModify":1631891376121,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Risk is increasing","listText":"Risk is increasing","text":"Risk is increasing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/832117906","repostId":"1107075259","repostType":4,"repost":{"id":"1107075259","kind":"news","pubTimestamp":1629509852,"share":"https://www.laohu8.com/m/news/1107075259?lang=zh_CN&edition=full","pubTime":"2021-08-21 09:37","market":"us","language":"en","title":"Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107075259","media":"MarketWatch","summary":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.$Investors$ should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.At $Tesla Motors$’s AI Day late Thursday, self-named Technoking Musk said th","content":"<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</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>Ignore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</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\">\nIgnore Elon Musk’s dancing distraction and face the dangers ahead for Tesla<blockquote>忽略Elon Musk跳舞的干扰，面对特斯拉未来的危险</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-21 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.</b>  <a href=\"https://laohu8.com/S/ISBC\">Investors</a> should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.</p><p><blockquote><b>对自动驾驶系统的调查以及这家电动汽车公司及其首席执行官就此发表的声明比他们最新的异想天开的技术愿望和时间表更值得关注。</b><a href=\"https://laohu8.com/S/ISBC\">投资者</a>应该忽略Elon Musk的最新舞蹈，而是关注特斯拉因首席执行官夸大其公司技术能力而面临的日益严重的问题。</blockquote></p><p> At <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a>’s&nbsp;AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”</p><p><blockquote>在<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>周四晚些时候，自称Technoking Musk的马斯克表示，该公司正在开发一款人形机器人，因为“特斯拉可以说是世界上最大的机器人公司，因为我们的汽车就像轮子上的半感知机器人。”</blockquote></p><p> After a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.</p><p><blockquote>在一名身穿白色西装的人类为观众和直播中的信徒跳了一支简短的舞蹈后，马斯克走上舞台，只展示了一个5英尺8英寸的人形机器人的计算机生成图像，马斯克声称特斯拉将在明年的某个时候生产出一个原型。他推断它可以用于制造或无聊的重复性任务，例如杂货店购物，并且将配备全自动驾驶计算机。</blockquote></p><p> As always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.</p><p><blockquote>和马斯克和特斯拉一样，对于任何对相关技术有基本了解的人来说，时间表都是非常值得怀疑的。幸运的是，这些滑稽动作并没有愚弄华尔街的所有人，其中一些人可能已经厌倦了他的恶作剧。</blockquote></p><p> “Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this&nbsp;Tesla&nbsp;Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for&nbsp;Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.</p><p><blockquote>“不幸的是，正如我们在机器人出租车和马斯克未来的其他科幻项目中所看到的那样，我们认为这款特斯拉机器人绝对令人挠头，在华尔街对电动汽车竞争和安全日益担忧之际，它将进一步激怒投资者。特斯拉的问题，”韦德布什证券分析师Dan Ives在周五早些时候给客户的一份报告中表示。</blockquote></p><p> The safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.</p><p><blockquote>艾夫斯提到的安全问题是投资者现在应该关注的问题，因为政府似乎终于站出来并注意到本专栏长期以来指出的一个问题：马斯克一再高估其汽车自动驾驶先进技术的当前和近期潜力。</blockquote></p><p> <a href=\"https://laohu8.com/S/JE\">Just</a> a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.</p><p><blockquote><a href=\"https://laohu8.com/S/JE\">刚刚</a>在周四“人工智能日”奇观的前一天，两名美国参议员要求联邦贸易委员会调查特斯拉和马斯克在特斯拉“全自动驾驶”产品营销方面“一再夸大其车辆功能”的行为。特斯拉对远未完全自动驾驶的软件在购买时收取数千美元（或每月低至100美元）的费用，这种做法已经导致加州机动车辆管理局最近进行审查，德国裁定特斯拉不能销售该产品本身。</blockquote></p><p> “Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at <a href=\"https://laohu8.com/S/AFG\">American</a> University in <a href=\"https://laohu8.com/S/WASH\">Washington</a> DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”</p><p><blockquote>“语言很重要，”塞利卡·塔尔博特(Selika Talbott)说。<a href=\"https://laohu8.com/S/AFG\">美国的</a>大学在<a href=\"https://laohu8.com/S/WASH\">华盛顿州</a>直流电。“这个术语的使用是错误的、误导性的，对公众来说是不安全的。辅助驾驶和自动驾驶汽车的概念及其区别并没有被公众完全理解。”</blockquote></p><p> “Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.</p><p><blockquote>塔尔博特说：“特斯拉在他们的车辆中配备了高度辅助技术，但任何驾驶人员都不应该认为车辆可以自动驾驶，因为它不能。”</blockquote></p><p> The week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The <a href=\"https://laohu8.com/S/NHLD\">National</a> <a href=\"https://laohu8.com/S/HIHO\">Highway</a> Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> Driver Assistance Systems (ADAS) and tractor-trailers.</p><p><blockquote>本周伊始，有消息称，使用该功能的汽车撞上了停下来的紧急车辆，联邦政府对特斯拉的自动驾驶系统进行了调查。<a href=\"https://laohu8.com/S/NHLD\">国家的</a><a href=\"https://laohu8.com/S/HIHO\">公路</a>交通安全管理局正在调查一系列启用了高级驾驶员辅助系统的特斯拉汽车发生的撞车事故。NHTSA表示，已对11起涉及紧急车辆的特斯拉事故展开调查，同时仍在调查一系列涉及启用紧急车辆的汽车的碰撞事故<a href=\"https://laohu8.com/S/AEIS\">先进的</a>驾驶员辅助系统（ADAS）和牵引车拖车。</blockquote></p><p> The latest outcry on Capitol <a href=\"https://laohu8.com/S/HIL\">Hill</a> follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.</p><p><blockquote>国会大厦的最新抗议<a href=\"https://laohu8.com/S/HIL\">山丘</a>关注一系列新闻报道和/或社交媒体帖子和YouTube视频，这些视频显示司机在测试特斯拉的所谓自动驾驶功能时做出了极其危险的行为。今年5月，加利福尼亚州丰塔纳市35岁的两个孩子的父亲Steven Michael Hendrickson在他的特斯拉撞上一辆翻倒的半挂卡车时死亡。早些时候，他发布了在高速公路上双手不放在方向盘上驾驶的视频，但NHTSA仍在调查自动驾驶仪在事故中的作用。</blockquote></p><p> “The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”</p><p><blockquote>“特斯拉正在生产的车辆是驾驶辅助系统，”麻省理工学院运输和物流中心的研究科学家布莱恩·赖默说。“他们在协助司机，司机需要保持警惕。”</blockquote></p><p></p><p> It is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”</p><p><blockquote>值得注意的是，特斯拉具有误导性名称的双产品之间的差异。“Autopilot”是一种ADAS系统，是一种高度先进的巡航控制版本，适用于高速公路驾驶，使“您的汽车能够在您的主动监督下在车道内自动转向、加速和制动，协助驾驶中最繁重的部分”。特斯拉的网站。特斯拉还提供“FSD”套餐，现在每月订阅费用为99至199美元，其将其描述为“访问一套更先进的驾驶员辅助功能，旨在在您的主动监督下提供更主动的指导和辅助驾驶。”</blockquote></p><p> If only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.</p><p><blockquote>要是马斯克用和官网类似的方式描述这些系统就好了。在评级分析师会议上以及特斯拉向其粉丝群进行的长达数小时的演示中，马斯克一直宣称，有了这款软件，完全自主指日可待。</blockquote></p><p> “We&nbsp;basically&nbsp;have&nbsp;to&nbsp;solve&nbsp;real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over <a href=\"https://laohu8.com/S/AONE.U\">one</a> million cars on the road that are collecting data… But I am highly confident that we&nbsp;will&nbsp;get&nbsp;this&nbsp;done.”</p><p><blockquote>“我们基本上必须解决现实世界的视觉人工智能，我们确实做到了，”他在4月份的财报看涨期权上表示。“解决这个问题的关键还在于拥有一些大规模的数据集。所以只要有足够的数据集<a href=\"https://laohu8.com/S/AONE.U\">一</a>道路上有数百万辆汽车正在收集数据……但我非常有信心我们能够完成这项工作。”</blockquote></p><p> But for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.</p><p><blockquote>但尽管马斯克夸夸其谈，拥有庞大的粉丝群，但投资者开始注意到，与其他正在测试自动驾驶汽车的公司相比，该公司涉及全自动驾驶技术的策略是危险的。</blockquote></p><p> For example, <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.</p><p><blockquote>例如，<a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>Inc.旗下的GOOGGOOGLWaymo是自动驾驶汽车时间最长的公司，目前正在亚利桑那州凤凰城周围人口不稠密的地区运营小规模机器人出租车服务，没有人类司机。这是美国唯一一家此类公司。在加利福尼亚州，Waymo获得了DMV的许可，可以在人类驾驶员驾驶的情况下进行AV测试。</blockquote></p><p> “Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of <a href=\"https://laohu8.com/S/AMSWA\">American</a> University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”</p><p><blockquote>“Waymo不能开始向任何人出售他们的自动驾驶汽车，他们也不能只是在道路上驾驶它们，我们的监管体系不允许这样做，”<a href=\"https://laohu8.com/S/AMSWA\">美国的</a>大学表示。“你可以测试它们，但市场上没有公开的自动驾驶汽车可供购买，因为它不存在。”</blockquote></p><p> With FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.</p><p><blockquote>随着FSD测试在现实世界中由未经训练的驾驶员进行，特斯拉正在进行相当于新药临床试验的试验，而无需对患者进行任何专业的每小时或每天监测。</blockquote></p><p> “They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.</p><p><blockquote>“他们称之为测试版，这是一个测试版系统，他们让人们面临重大风险，”赖默说。</blockquote></p><p> Musk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.</p><p><blockquote>马斯克的最新机器人是另一个干扰，就像他的Boring Company在2018年出售的火焰喷射器、他试图帮助被困在泰国洞穴中的男孩的不必要的帮助以及其他项目一样。投资者不应该让这些干扰妨碍马斯克似乎拒绝承认的真正问题，因为他继续夸大公司的技术能力。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?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":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/story/ignore-elon-musks-dancing-distraction-and-face-the-dangers-ahead-for-tesla-11629488276?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1107075259","content_text":"Investigations into automated-driving systems and the statements made about it by the electric-car company and its chief executive deserve more attention than their latest fanciful technology aspirations and timelines.\n\nInvestors should ignore Elon Musk’s latest dance and focus instead on the growing issues Tesla is facing because of its chief executive’s exaggerated claims about his company’s technological capabilities.\nAt Tesla Motors’s AI Day late Thursday, self-named Technoking Musk said that the company is working on a humanoid robot as “Tesla is arguably the world’s biggest robotics company because our cars are like semi-sentient robots on wheels.”\nAfter a white-suited human did a brief dance for the believers in the audience and on a livestream, Musk came on the stage and showed only computer-generated images of a 5’8″ humanoid robot thathe claimed Tesla will produce a prototype of sometime next year. He inferred it could be used for manufacturing or boring repetitive tasks, like grocery shopping and will have a full self-driving computer.\nAs always with Musk and Tesla, the timeline is highly doubtful to anyone with basic knowledge of the technology in question. Fortunately, the antics did not fool everyone on Wall Street, some of whom may be getting tired of his shenanigans.\n“Unfortunately, as we have seen with robotaxis and other future sci-fi projects for Musk, we view this Tesla Bot as an absolute head scratcher that will further agitate investors at a time the Street is showing growing concern around rising EV competition and safety issues for Tesla,” said Dan Ives, a Wedbush Securities analyst, in a note to clients early Friday.\nThe safety issues Ives mentions are what investors should be attuned to right now, because it appears the government is finally stepping up and taking note of a problem this column has long pointed out: Musk repeatedly oversells the current and near-term potential for his automotive autonomy advanced technology.\nJust a day before Thursday’s “AI Day” spectacle,two U.S. senators asked the Federal Trade Commission to investigate both Tesla’s and Musk’s “repeated overstatements of their vehicles’ capabilities”in regards to the marketing of Tesla’s “Full Self Driving” product. Tesla charges thousands of dollars at purchase (or as little as $100 a month) for software that is nowhere near full self-driving, a practice that has already led toa recent review by California Department of Motor Vehiclesanda German ruling that Tesla could not market the product as such.\n“Language matters,” said Selika Talbott, a professorial lecturer in the department of public administration and policy at American University in Washington DC. “The use of this terminology is false and misleading and unsafe for the general public. The notions of assisted driving and autonomous vehicles and their differences are not fully understood by the general public.”\n“Tesla has highly assisted technology in their vehicle, but at no point should anyone behind the wheel think that vehicle can drive itself, because it can’t,” Talbott said.\nThe week began with news of a federal investigation into Tesla’s Autopilot system after cars using the feature crashed into stopped emergency vehicles.The National Highway Traffic Safety Administration is looking into a series of crashesby Tesla cars that had the advanced driver-assistance system enabled. NHTSA said that itopened an inquiry into 11 Tesla crashesthat involved emergency vehicles, while still investigating a series of collisions involving cars enabled with Advanced Driver Assistance Systems (ADAS) and tractor-trailers.\nThe latest outcry on Capitol Hill follows a stream of news reports and/or social media posts and YouTube videos of drivers engaging in extremely risky behavior while testing the so-called self-driving features of their Tesla. In May, Steven Michael Hendrickson,a 35-year-old father of two in Fontana, Calif., died when his Tesla hit an overturned semitruck. Earlier he had posted videos of driving without his hands on the wheel of his car on the freeway, but the NHTSA was still investigating the role of Autopilot in the crash.\n“The vehicles that Tesla is producing are driver-assisted systems,” said Bryan Reimer, a research scientist at the MIT Center for Transportation and Logistics. “They are assisting the driver, and the driver needs to maintain vigilance.”\nIt is important to note the difference between Tesla’s dual products with misleading names. “Autopilot” is an ADAS system, a highly advanced version of cruise control meant for highway driving that enables “your car to steer, accelerate and brake automatically within its lane under your active supervision, assisting with the most burdensome parts of driving,” according to Tesla’s website. Tesla also offers the “FSD” package, now available by a subscription of $99 to $199 a month, which it describes as “access to a suite of more advanced driver assistance features, designed to provide more active guidance and assisted driving under your active supervision.”\nIf only Musk described these systems in a similar manner to the official website. In analyst conference calls and in Tesla’s multi-hour long presentations to its fan base, Musk has been proclaiming that with this software, full autonomy is around the corner.\n“We basically have to solve real-world vision AI and we are,” he said in an earnings call in April. “And the key to solving this is also having some massive data set. So just having well over one million cars on the road that are collecting data… But I am highly confident that we will get this done.”\nBut for all of Musk’s bluster and huge fan base, investors are starting to note that the company’s tactics involving full self-driving technology are dangerous, as opposed to the other companies that are testing autonomous vehicles.\nFor example, Alphabet Inc.’sGOOGGOOGLWaymo, the company with the most hours of autonomous vehicle driving, is currently operating a small scale robotaxi service in parts of Arizona around Phoenix that are not densely populated, without human drivers. It is the only one of its kind in the U.S. In California, Waymo has permits from the DMV to conduct AV testing with a human driver behind the wheel.\n“Waymo cannot just start selling their AVs to anyone, and they can’t just drive them on the roadway, our regulatory system does not allow for that,” Talbott of American University said. “You can test them but no publicly available self-driving car is on the market for purchase because it doesn’t exist.”\nWith FSD testing being done in the real world with untrained drivers, Tesla is conducting the equivalent of clinical trials of a new drug without any professional hourly or daily monitoring of the patient.\n“They are calling it beta, it is a beta system, they are exposing people to substantive risk,” Reimer said.\nMusk’s latest bot is yet another distraction, much like the flame thrower in 2018 sold by his Boring Company, his unwanted assistance to try and help the boys stuck in a cave in Thailand, and other projects. Investors should not let these distractions get in the way of the real issues that Musk seems to be refusing to acknowledge as he continues to oversell his company’s technological abilities.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":328,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153243161,"gmtCreate":1625029697953,"gmtModify":1631893081246,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Comment n like pls","listText":"Comment n like pls","text":"Comment n like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/153243161","repostId":"1122418477","repostType":4,"isVote":1,"tweetType":1,"viewCount":317,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":197950976,"gmtCreate":1621422106095,"gmtModify":1634189292948,"author":{"id":"3563679388810703","authorId":"3563679388810703","name":"weifeng_86","avatar":"https://static.tigerbbs.com/9cc9f3194863971bc80619291db737e0","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563679388810703","idStr":"3563679388810703"},"themes":[],"htmlText":"Like n comment pls","listText":"Like n comment pls","text":"Like n comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/197950976","repostId":"1158638540","repostType":4,"repost":{"id":"1158638540","kind":"news","pubTimestamp":1621409180,"share":"https://www.laohu8.com/m/news/1158638540?lang=zh_CN&edition=full","pubTime":"2021-05-19 15:26","market":"us","language":"en","title":"4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158638540","media":"Barrons","summary":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.The company offers various tools for website creation, including domains, e-comme","content":"<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，掀起了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市交易，股票代码为SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销能力。Squarespace旨在与网络专业知识有限的小型企业以及需要更大灵活性以根据其需求进行定制的“大品牌”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace认为自己正在顺应许多趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视自己动手的解决方案，这些解决方案“正在迅速取代昂贵的代理机构，并使同等的设计质量脱颖而出。该公司在向美国证券交易委员会提交的文件中表示，“所有人都可以访问且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且在上市时没有筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润缩水</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020年收入为6.21亿美元，高于上年同期的4.85亿美元。最近一财年的收入增长了28%，高于上一季度24%的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将94%的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独立订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace去年约70%的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners分析师Rohit Kulkarni写道，该公司的“基本面凸显了盈利能力和大规模增长的罕见结合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管每年都实现盈利，但Squarespace在2021年第一季度净亏损1010万美元，而去年同期亏损110万美元。该公司在2020年最后三个季度均实现盈利。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争激烈</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace将Wix等网络创建平台视为其竞争对手。com（股票代码：WIX）和Square(SQ)Weebly，以及允许企业建立在线商店的电子商务巨头Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace还评级了GoDaddy(GDDY)等提供域名工具以及提供电子邮件营销和日程安排功能的竞争对手，同时辩称其自己的“全面、一体化平台、多渠道商务能力”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies分析师Brent Thill指出，Wix比Squarespace规模更大，去年的收入为9.89亿美元，而Squarespace的收入为6.21亿美元。此外，他写道，Squarespace去年的收入与Wix 2018年的收入相似，但Wix在这一规模上的增长更快，而且没有受益于大流行推动的更广泛的电子商务加速。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店行业的公司。Tock的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM的库尔卡尼表示，这部分业务可能会使SquareSpace与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“SquareSpace提供的Tock产品面临着来自Uber Eats(UBER)、DoorDash(DASH)和Grubhub(GRUB)等配送服务以及TouchBistro和Toast等其他餐厅[客户关系管理]服务的竞争，”他写道。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购是Squarespace“巧妙地多元化，不仅在线销售实物商品，还增加日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”的一个例子，他继续说道。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销雄鹿</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace的营销和销售成本增长速度远远快于其收入增长速度。该公司去年的此类费用为310万美元，高于2019年的170万美元，增长了45%，而同期收入增长了28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>该公司的播客广告可能为经常听众所熟悉，尽管Squarespace在其招股说明书中指出，它使用“在线关键字搜索、赞助和名人代言、电视、播客、印刷和在线广告、电子邮件和社交媒体营销”广泛宣传其服务。”</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在其风险因素中，Squarespace指出，Alphabet（GOOGL）的谷歌可能会改变其算法或提高其搜索引擎营销工具的成本。</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>4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</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\">\n4 Things to Know Ahead of the Squarespace’s Direct Listing<blockquote>Squarespace直接上市前需要了解的4件事</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-05-19 15:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.</p><p><blockquote>疫情促使许多小企业首次获得在线店面，掀起了一股电子商务浪潮，帮助网站创建平台Squarespace Inc.加速了收入增长。</blockquote></p><p> Now Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.</p><p><blockquote>现在，Squarespace将测试作为一家上市公司电子商务势头的弹性。其股票定于周三开始在纽约证券交易所直接上市交易，股票代码为SQSP。</blockquote></p><p> The company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.</p><p><blockquote>该公司提供各种网站创建工具，包括域名、电子商务功能和营销能力。Squarespace旨在与网络专业知识有限的小型企业以及需要更大灵活性以根据其需求进行定制的“大品牌”合作。</blockquote></p><p> Squarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in&nbsp;its filing with the Securities and Exchange Commission.</p><p><blockquote>Squarespace认为自己正在顺应许多趋势，包括企业越来越需要与客户保持直接关系，以及越来越重视自己动手的解决方案，这些解决方案“正在迅速取代昂贵的代理机构，并使同等的设计质量脱颖而出。该公司在向美国证券交易委员会提交的文件中表示，“所有人都可以访问且易于使用”。</blockquote></p><p> The company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.</p><p><blockquote>该公司在3月份的一轮融资中筹集了3亿美元，使该公司的企业估值达到100亿美元，并且在上市时没有筹集任何新的资金。以下是您需要了解的关于该公司的其他信息。</blockquote></p><p> <b>Growing Revenue, Shrinking Profits</b></p><p><blockquote><b>收入增长，利润缩水</b></blockquote></p><p> Squarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.</p><p><blockquote>Squarespace 2020年收入为6.21亿美元，高于上年同期的4.85亿美元。最近一财年的收入增长了28%，高于上一季度24%的增长率。</blockquote></p><p> The company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.</p><p><blockquote>该公司将94%的收入归类为基于订阅的收入。Squarespace在2020年增加了约70万个新的独立订阅，该公司透露，超过三分之二的总订阅是年度订阅。</blockquote></p><p> About 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.</p><p><blockquote>Squarespace去年约70%的收入来自美国，其余来自国际。</blockquote></p><p> Squarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.</p><p><blockquote>Squarespace去年实现盈利，净利润约为3060万美元，但利润低于2019年的5820万美元。MKM Partners分析师Rohit Kulkarni写道，该公司的“基本面凸显了盈利能力和大规模增长的罕见结合”。</blockquote></p><p> Despite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.</p><p><blockquote>尽管每年都实现盈利，但Squarespace在2021年第一季度净亏损1010万美元，而去年同期亏损110万美元。该公司在2020年最后三个季度均实现盈利。</blockquote></p><p> <b>Competition Aplenty</b></p><p><blockquote><b>竞争激烈</b></blockquote></p><p> The company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like&nbsp;Wix.com&nbsp;(ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse&nbsp;Shopify&nbsp;(ticker: SHOP),&nbsp;which lets businesses set up online shops.</p><p><blockquote>根据其文件，该公司与电子商务行业的各种不同参与者竞争。Squarespace将Wix等网络创建平台视为其竞争对手。com（股票代码：WIX）和Square(SQ)Weebly，以及允许企业建立在线商店的电子商务巨头Shopify（股票代码：SHOP）。</blockquote></p><p> Squarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.</p><p><blockquote>Squarespace还评级了GoDaddy(GDDY)等提供域名工具以及提供电子邮件营销和日程安排功能的竞争对手，同时辩称其自己的“全面、一体化平台、多渠道商务能力”是一项资产。</blockquote></p><p> Jefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.</p><p><blockquote>Jefferies分析师Brent Thill指出，Wix比Squarespace规模更大，去年的收入为9.89亿美元，而Squarespace的收入为6.21亿美元。此外，他写道，Squarespace去年的收入与Wix 2018年的收入相似，但Wix在这一规模上的增长更快，而且没有受益于大流行推动的更广泛的电子商务加速。</blockquote></p><p> <b>On the Menu</b></p><p><blockquote><b>在菜单上</b></blockquote></p><p> SquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.</p><p><blockquote>SquareSpace最近完成了对Tock的4.15亿美元收购，Tock是一家专注于餐饮和酒店行业的公司。Tock的服务允许企业管理预订、外卖、活动票务等。</blockquote></p><p> This part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.</p><p><blockquote>MKM的库尔卡尼表示，这部分业务可能会使SquareSpace与更多科技巨头竞争。</blockquote></p><p> “SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash&nbsp;(DASH) and&nbsp;Grubhub&nbsp;(GRUB),&nbsp;along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.</p><p><blockquote>“SquareSpace提供的Tock产品面临着来自Uber Eats(UBER)、DoorDash(DASH)和Grubhub(GRUB)等配送服务以及TouchBistro和Toast等其他餐厅[客户关系管理]服务的竞争，”他写道。</blockquote></p><p> At the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.</p><p><blockquote>与此同时，此次收购是Squarespace“巧妙地多元化，不仅在线销售实物商品，还增加日历/日程安排功能（餐厅或健身房预订）、内容销售和订阅”的一个例子，他继续说道。</blockquote></p><p> <b>Marketing Bucks</b></p><p><blockquote><b>营销雄鹿</b></blockquote></p><p> Squarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.</p><p><blockquote>Squarespace的营销和销售成本增长速度远远快于其收入增长速度。该公司去年的此类费用为310万美元，高于2019年的170万美元，增长了45%，而同期收入增长了28%。</blockquote></p><p></p><p> The company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”</p><p><blockquote>该公司的播客广告可能为经常听众所熟悉，尽管Squarespace在其招股说明书中指出，它使用“在线关键字搜索、赞助和名人代言、电视、播客、印刷和在线广告、电子邮件和社交媒体营销”广泛宣传其服务。”</blockquote></p><p> Among its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.</p><p><blockquote>在其风险因素中，Squarespace指出，Alphabet（GOOGL）的谷歌可能会改变其算法或提高其搜索引擎营销工具的成本。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?mod=hp_LEAD_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":{"SQSP":"Squarespace Inc."},"source_url":"https://www.barrons.com/articles/squarespace-direct-listing-51621376597?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158638540","content_text":"The pandemic prompted many small businesses to gain online storefronts for the first time, creating an e-commerce wave that helped website-creation platform Squarespace Inc. accelerate its revenue growth.\nNow Squarespace will test the resilience of that e-commerce momentum as a public company. Its shares are scheduled to begin trading Wednesday in a direct listing on the New York Stock Exchange under the ticker SQSP.\nThe company offers various tools for website creation, including domains, e-commerce functions and marketing capabilities. Squarespace aims to work with small businesses that have limited web expertise as well as “large brands” that need greater flexibility to customize based on their needs.\nSquarespace sees itself playing into a number of trends, including a growing need for businesses to maintain direct relationships with their customers and an increased emphasis on do-it-yourself solutions that are “rapidly displacing expensive agencies and making equivalent design quality out-of-the-box, accessible and easy-to-use for all,” the company said in its filing with the Securities and Exchange Commission.\nThe company raised $300 million in a March funding round that gave the company an enterprise valuation of $10 billion, and is not raising any new funding as it lists. Here is what else you need to know about the company.\nGrowing Revenue, Shrinking Profits\nSquarespace posted $621 million in revenue during 2020, up from $485 million a year earlier. Revenue was up 28% in the latest fiscal year, ahead of the 24% growth rate seen in the prior period.\nThe company classifies 94% of its revenue as subscription-based. Squarespace added about 700,000 new unique subscriptions in 2020 and the company disclosed that more than two thirds of total subscriptions are annual.\nAbout 70% of Squarespace’s revenue last year came from the U.S., while the rest was international.\nSquarespace was profitable last year, recording about $30.6 million in net income, though profits were down from $58.2 million in 2019. The company’s “fundamentals highlight a rare combo of profitability and growth at scale,” wrote MKM Partners analyst Rohit Kulkarni.\nDespite a string of profitability on an annual basis, Squarespace generated a net loss of $10.1 million in the first quarter of 2021 compared with a loss of $1.1 million a year earlier. The company posted profits in each of the last three quarters of 2020.\nCompetition Aplenty\nThe company competes with a variety of different players across the e-commerce industry, according to its filing. Squarespace counts web-creation platforms like Wix.com (ticker: WIX) and Square’s (SQ) Weebly among its competition, along with e-commerce powerhouse Shopify (ticker: SHOP), which lets businesses set up online shops.\nSquarespace also calls out competitors like GoDaddy (GDDY) that offer domain-name tools, as well as those providing email-marketing and scheduling functions, while arguing that its own “comprehensive, all-in-one platform, multichannel commerce capabilities” are an asset.\nJefferies analyst Brent Thill notes that Wix is larger than Squarespace, with revenue of $989 million last year versus $621 million for Squarespace. In addition, Squarespace’s revenue last year was similar to what Wix posted in 2018, but Wix was posting faster growth at that scale, and without the benefit of the pandemic-driven acceleration in e-commerce more broadly, he wrote.\nOn the Menu\nSquareSpace recently closed its $415 million acquisition of Tock, a company focused on the restaurant and hospitality industries. Tock’s services allow businesses to manage reservations, takeout, event ticketing and more.\nThis part of the business may position SquareSpace against more tech giants, suggested MKM’s Kulkarni.\n“SquareSpace’s offering with Tock faces competition from delivery services such as Uber Eats (UBER),DoorDash (DASH) and Grubhub (GRUB), along with other restaurant [customer-relationship management] services such as TouchBistro and Toast,” he wrote.\nAt the same time, the acquisition is an example of one way Squarespace has “smartly diversified into selling not just physical goods online but also adding calendar/scheduling capabilities (restaurant or gym reservations), content sales, and subscriptions,” he continued.\nMarketing Bucks\nSquarespace’s marketing and sales costs are growing far faster than its revenue. The company incurred $3.1 million in such expenses last year, up from $1.7 million in 2019, making for a 45% increase, whereas revenue was up 28% in the same span.\nThe company’s podcast advertisements may be familiar to frequent listeners, though Squarespace notes in its prospectus that it advertises its services broadly, using “online keyword search, sponsorships and celebrity endorsements, television, podcasts, print and online advertising, email and social media marketing.”\nAmong its risk factors, Squarespace points to the possibility that Alphabet’s (GOOGL) Google could change its algorithm or raise the costs of its search-engine-marketing tools.","news_type":1,"symbols_score_info":{"SQSP":0.9}},"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}