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ew1202

ew1202

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2021-08-12

Hype or trap, we shll see

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2021-07-14

Rebound

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2021-06-16

Lets squeeze

Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets<blockquote>四女巫困境：周五2万亿美元伽马到期将如何影响市场</blockquote>

2021-06-14

$Altimeter Growth Corp.(AGC)$[流泪]

2021-12-21

Ok

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2021-12-21

Go micron

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2021-06-14

[开心] [开心] [开心]

Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>

2021-12-31

Ok

Lucid Vs. NIO Stock: Which EV Stock Is The Better Buy?<blockquote>Lucid与蔚来股票：哪只电动汽车股票更值得购买？</blockquote>

2021-12-21

Thanks for sharing

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2021-06-14

$APAC REALTY LIMITED(CLN.SI)$[微笑]

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rating.</li><li>As the company expands its loan portfolio in high yielding products, &#34;it&#39;s well positioned to increase profitability significantly beginning in 2023, and we see it reaching an ROE of 39% by 2025,&#34; the analyst writes in a note to clients.</li><li>Despite macro risks rising in Brazil, the company&#39;s proprietary technology platform and relatively low market share can allow it to grow in a counter-cyclical trends, Ng notes.</li><li>Additionally, UBS analyst Thiago Batista also initiates Nu Holdings (NU) with a Buy rating on the company&#39;s continued expansion of its strong client base, as well as an implementation of new products, he writes in a note to clients.</li><li>Batista forecasts the company&#39;s client base to be 100M in 2026, with the majority based in Brazil.</li><li>Applies a $12.50 price target, implying 33.3% upside from Friday&#39;s close; derived from a price/book value 2026 estimate of 4.5x.</li><li>The Buy ratings diverge from the 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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\">\nNu Holdings stock climbs after initiated at Goldman Sachs with Buy<blockquote>高盛发起买入后，Nu Holdings股价上涨</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\">2022-01-03 21:32</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><ul><li>Brazil-based financial services platform Nu Holdings&#39;(NYSE:NU)stock rises more than3%in pre-market trading after Goldman Sachs analyst Michael Ng initiates the fintech with a Buy rating.</li><li>As the company expands its loan portfolio in high yielding products, &#34;it&#39;s well positioned to increase profitability significantly beginning in 2023, and we see it reaching an ROE of 39% by 2025,&#34; the analyst writes in a note to clients.</li><li>Despite macro risks rising in Brazil, the company&#39;s proprietary technology platform and relatively low market share can allow it to grow in a counter-cyclical trends, Ng notes.</li><li>Additionally, UBS analyst Thiago Batista also initiates Nu Holdings (NU) with a Buy rating on the company&#39;s continued expansion of its strong client base, as well as an implementation of new products, he writes in a note to clients.</li><li>Batista forecasts the company&#39;s client base to be 100M in 2026, with the majority based in Brazil.</li><li>Applies a $12.50 price target, implying 33.3% upside from Friday&#39;s close; derived from a price/book value 2026 estimate of 4.5x.</li><li>The Buy ratings diverge from the NeutralWall Street Analyst Rating.</li><li>Still, shares of NU are trading about 10% below its initial public offering price of $9 per share on Dec. 9 of 2021.</li></ul></body></html></p><p><blockquote><html><head></head><body><ul><li>高盛分析师Michael Ng对这家金融科技公司给予买入评级后，总部位于巴西的金融服务平台Nu Holdings（纽约证券交易所股票代码：NU）的股价在盘前交易中上涨超过3%。</li><li>该分析师在给客户的一份报告中写道，随着该公司扩大其高收益产品的贷款组合，“它有能力从2023年开始大幅提高盈利能力，我们预计到2025年其ROE将达到39%”。</li><li>Ng指出，尽管巴西的宏观风险不断上升，但该公司的专有技术平台和相对较低的市场份额可以使其以反周期趋势增长。</li><li>此外，瑞银分析师蒂亚戈·巴蒂斯塔(Thiago Batista)在给客户的一份报告中写道，还对Nu Holdings(NU)给予买入评级，理由是该公司持续扩大其强大的客户群以及实施新产品。</li><li>Batista预测，到2026年，该公司的客户群将达到1亿，其中大部分位于巴西。</li><li>目标价为12.50美元，较周五收盘价上涨33.3%；源自2026年市净率4.5倍的预估。</li><li>买入评级与华尔街分析师的中性评级不同。</li><li>尽管如此，NU的股价仍比2021年12月9日每股9美元的首次公开募股价格低约10%。</li></ul></body></html></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3784528-nu-holdings-stock-climbs-after-initiated-at-goldman-sachs-with-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":{"NU":"Nu Holdings Ltd."},"source_url":"https://seekingalpha.com/news/3784528-nu-holdings-stock-climbs-after-initiated-at-goldman-sachs-with-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1187809986","content_text":"Brazil-based financial services platform Nu Holdings'(NYSE:NU)stock rises more than3%in pre-market trading after Goldman Sachs analyst Michael Ng initiates the fintech with a Buy rating.As the company expands its loan portfolio in high yielding products, \"it's well positioned to increase profitability significantly beginning in 2023, and we see it reaching an ROE of 39% by 2025,\" the analyst writes in a note to clients.Despite macro risks rising in Brazil, the company's proprietary technology platform and relatively low market share can allow it to grow in a counter-cyclical trends, Ng notes.Additionally, UBS analyst Thiago Batista also initiates Nu Holdings (NU) with a Buy rating on the company's continued expansion of its strong client base, as well as an implementation of new products, he writes in a note to clients.Batista forecasts the company's client base to be 100M in 2026, with the majority based in Brazil.Applies a $12.50 price target, implying 33.3% upside from Friday's close; derived from a price/book value 2026 estimate of 4.5x.The Buy ratings diverge from the NeutralWall Street Analyst Rating.Still, shares of NU are trading about 10% below its initial public offering price of $9 per share on Dec. 9 of 2021.","news_type":1,"symbols_score_info":{"NU":0.9}},"isVote":1,"tweetType":1,"viewCount":3202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692171264,"gmtCreate":1640891927279,"gmtModify":1640891927418,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Wah","listText":"Wah","text":"Wah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/692171264","repostId":"1147910736","repostType":4,"repost":{"id":"1147910736","kind":"news","weMediaInfo":{"introduction":"Providing stock market 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8%.</p><p><blockquote><html><head></head><body>热门中国美国存托凭证早盘上涨。阿里巴巴-SW、京东、拼多多、百度、网易、蔚来、小鹏汽车、理想汽车、滴滴全球、哔哩哔哩和爱奇艺涨幅在1%至8%之间。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/47255c45e62886be68ff99080f521c9a\" tg-width=\"352\" tg-height=\"790\" referrerpolicy=\"no-referrer\"/></p><p><blockquote></blockquote></p><p></body></html></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>Hot Chinese ADRs Rallied in Morning Trading<blockquote>热门中国美国存托凭证早盘上涨</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\">\nHot Chinese ADRs Rallied in Morning Trading<blockquote>热门中国美国存托凭证早盘上涨</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\">2021-12-30 22:47</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Hot Chinese ADRs rallied in morning trading. Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI climed between 1% and 8%.</p><p><blockquote><html><head></head><body>热门中国美国存托凭证早盘上涨。阿里巴巴-SW、京东、拼多多、百度、网易、蔚来、小鹏汽车、理想汽车、滴滴全球、哔哩哔哩和爱奇艺涨幅在1%至8%之间。</body></html></blockquote></p><p><img src=\"https://static.tigerbbs.com/47255c45e62886be68ff99080f521c9a\" tg-width=\"352\" tg-height=\"790\" referrerpolicy=\"no-referrer\"/></p><p><blockquote></blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多","BABA":"阿里巴巴","DIDI":"滴滴(已退市)","NTES":"网易","XPEV":"小鹏汽车","LI":"理想汽车","BIDU":"百度","BILI":"哔哩哔哩","NIO":"蔚来","RLX":"雾芯科技","EDU":"新东方","IQ":"爱奇艺","BEKE":"贝壳","JD":"京东"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147910736","content_text":"Hot Chinese ADRs rallied in morning trading. Alibaba,JD.com,Pinduoduo,Baidu,NetEase,Nio,Xpeng Motors,Li Auto,DiDi Global,Bilibili and iQIYI climed between 1% and 8%.","news_type":1,"symbols_score_info":{"JD":0.9,"DIDI":0.9,"BABA":0.9,"IQ":0.9,"PDD":0.9,"RLX":0.9,"NTES":0.9,"XPEV":0.9,"NIO":0.9,"BEKE":0.9,"LI":0.9,"EDU":0.9,"BIDU":0.9,"BILI":0.9}},"isVote":1,"tweetType":1,"viewCount":2484,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692171806,"gmtCreate":1640891868205,"gmtModify":1640891868340,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"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/692171806","repostId":"1139674064","repostType":4,"repost":{"id":"1139674064","kind":"news","pubTimestamp":1640878484,"share":"https://www.laohu8.com/m/news/1139674064?lang=zh_CN&edition=full","pubTime":"2021-12-30 23:34","market":"us","language":"en","title":"Lucid Vs. NIO Stock: Which EV Stock Is The Better Buy?<blockquote>Lucid与蔚来股票：哪只电动汽车股票更值得购买？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139674064","media":"Seeking Alpha","summary":"SummaryThe EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.Both NIO and LCID have strong brands and gre","content":"<p><html><head></head><body><b>Summary</b></p><p><blockquote><html><head></head><body><b>总结</b></body></html></blockquote></p><p><ul><li>The EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.</li><li>Both NIO and LCID have strong brands and great tech, which allow them to demand high ASPs.</li><li>NIO seems like the lower-risk choice among these two, and due to being a lot farther along from a production ramp perspective, it is, I believe, the better choice today.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0fe01e445aec1bb67f1b8d810f551603\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"/><span>Trygve Finkelsen/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>电动汽车市场的竞争越来越激烈。拥有强大的品牌或技术对于公司脱颖而出非常重要。</li><li>蔚来和LCID都拥有强大的品牌和出色的技术，这使得它们能够要求很高的平均售价。</li><li>蔚来似乎是这两者中风险较低的选择，而且由于从产量增长的角度来看，它走得更远，我相信它是当今更好的选择。</li></ul><p class=\"t-img-caption\"><span>Trygve Finkelsen/iStock社论来自Getty Images</span></p></blockquote></p><p><b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p>The EV space has brought up many companies that do not seem too viable in the long run, but there are also strong contenders apart from Tesla (TSLA). In this report, we&#39;ll pit Lucid Group, Inc. (LCID) and NIO Inc. (NIO) against each other - two of the most interesting EV players that combine strong brands and high-end technological capabilities. In this report, we&#39;ll take a deeper dive into the tech and product side and will look at individual risks for both companies. Overall, I do believe that NIO is the more attractive choice among these two at current prices.</p><p><blockquote>电动汽车领域催生了许多从长远来看似乎不太可行的公司，但除了特斯拉（TSLA）之外，也有强有力的竞争者。在本报告中，我们将对Lucid Group，Inc.(LCID)和蔚来（蔚来）进行对比，这两家最有趣的电动汽车公司结合了强大的品牌和高端技术能力。在本报告中，我们将更深入地探讨技术和产品方面，并探讨两家公司的个别风险。总体而言，我确实相信以目前的价格来看，蔚来是这两个选择中更具吸引力的。</blockquote></p><p><b>Lucid And NIO In The EV Market</b></p><p><blockquote><b>电动汽车市场的Lucid和蔚来</b></blockquote></p><p>The global EV market has been growing rapidly, with EV sales likely coming in a little north of six million, which is roughly twice as high as during the previous year. Clearly, EVs are a huge growth sector in the global automobile market, although it should be noted that most vehicles sold around the world are still powered by internal combustion engines. Over the years, EV market share should continue to climb rapidly, but it is not looking like EVs will dominate ICE vehicles any time soon.</p><p><blockquote>全球电动汽车市场一直在快速增长，电动汽车销量可能略高于600万辆，大约是上一年的两倍。显然，电动汽车是全球汽车市场的一个巨大增长领域，尽管应该指出的是，全球销售的大多数车辆仍然由内燃机驱动。多年来，电动汽车市场份额应该会继续快速攀升，但电动汽车似乎不会很快主导内燃机汽车。</blockquote></p><p>The market leaders in the EV space are Tesla and BYD (OTCPK:BYDDY), and, depending on how one counts plug-in hybrids, Volkswagen (OTCPK:VWAGY). NIO Inc. and Lucid Group, Inc. are not among the largest companies for now. NIO is selling around 11,000 vehicles a month right now, which translates into a ~130,000 annual sales pace. Sales have been growing quickly, however, which is why NIO will most likely sell more than 130,000 vehicles next year, as deliveries should continue to climb sequentially. Lucid is way smaller for now, in terms of deliveries, as the company has likely sold a couple of hundred vehicles this year. Next year, Lucid Group targets deliveries of around 20,000 vehicles - up by a lot versus 2021, but still a relatively small number compared to the deliveries NIO and many other peers will hit next year.</p><p><blockquote>电动汽车领域的市场领导者是特斯拉和比亚迪（OTCPK：BYDDY），以及大众汽车（OTCPK：VWAGY），具体取决于插电式混合动力车的计算方式。蔚来和Lucid Group，Inc.目前还不是最大的公司。蔚来目前每月销售约11,000辆汽车，相当于年销量约130,000辆。然而，销量一直在快速增长，这就是为什么蔚来明年的销量很可能会超过13万辆，因为交付量应该会继续连续攀升。就交付量而言，Lucid目前的规模要小得多，因为该公司今年可能已售出数百辆汽车。明年，Lucid Group的目标是交付约20,000辆汽车，比2021年增长很多，但与蔚来和许多其他同行明年的交付量相比，这个数字仍然相对较小。</blockquote></p><p><b>LCID Vs. NIO&#39;s Past Quarterly Performance</b></p><p><blockquote><b>LCID与蔚来过去的季度表现</b></blockquote></p><p>As noted above, NIO&#39;s sales performance was way stronger than that of Lucid over the last three months, but that was hardly a surprise as LCID just began delivering vehicles to customers. On a share price basis, however, Lucid fared better:</p><p><blockquote>如上所述，蔚来过去三个月的销售业绩远强于Lucid，但这并不奇怪，因为LCID刚刚开始向客户交付车辆。然而，从股价来看，Lucid的表现更好：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7a6e7cb1b1485f32cc25ade9f387a5b\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Over the last three months, LCID is up close to 50%, whereas NIO saw its shares drop by close to 20% over the same time frame. In NIO&#39;s case, macro worries about Chinese regulation played a role, whereas LCID benefitted a lot from growing enthusiasm for US-based EV players caused by Rivian&#39;s (RIVN) huge IPO success. On top of that, the start of deliveries also attracted new investors to Lucid&#39;s stock. If analysts are correct, NIO is the much better value today:</p><p><blockquote>过去三个月，LCID上涨了近50%，而蔚来的股价同期下跌了近20%。就蔚来而言，对中国监管的宏观担忧发挥了作用，而LCID则从Rivian(RIVN)IPO的巨大成功引发的对美国电动汽车企业日益增长的热情中受益匪浅。最重要的是，交付的开始也吸引了新投资者购买Lucid的股票。如果分析师是正确的，那么蔚来今天的价值要高得多：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b1d0939d657b284e25d8447ccb211b5\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Shares are trading at less than half the consensus price target, which implies 100%+ upside over the next year, whereas LCID is trading almost perfectly in line with the current consensus price target - which implies no upside over the next year. NIO&#39;s underperformance over the last quarter thus seems to position the company well for a strong performance from the current level, whereas the same can&#39;t be said about Lucid.</p><p><blockquote>该股的交易价格不到共识价格目标的一半，这意味着明年有100%以上的上涨空间，而LCID的交易价格几乎完全符合当前的共识价格目标，这意味着明年没有上涨空间。因此，蔚来上个季度的表现不佳似乎使该公司在当前水平上表现强劲，而Lucid则不然。</blockquote></p><p><b>Lucid Vs. NIO Key Metrics</b></p><p><blockquote><b>Lucid与蔚来关键指标</b></blockquote></p><p></p><p>Let&#39;s take a deeper look at the tech of the two companies, as well as at their branding, and their specific key risks. Both NIO and Lucid are active in the high-end segment of the EV industry, selling vehicles with ASPs well north of the average Tesla. NIO&#39;s ASP is around $70,000, and Lucid&#39;s ASP is even higher than that for now, as the company is selling the most expensive Air<i>Dream</i>version first. Tesla, the current EV leader, has an ASP of around $50,000. Both NIO and Tesla are thus operating in a more luxurious, higher-end segment of the market compared to Tesla. How are these companies able to demand way higher ASPs than Tesla? There are several factors at play, including branding, but one of the most important factors is their great tech.</p><p><blockquote>让我们更深入地了解这两家公司的技术、品牌及其具体的主要风险。蔚来和Lucid都活跃在电动汽车行业的高端领域，销售的汽车平均售价远高于特斯拉的平均水平。蔚来的平均售价约为7万美元，Lucid的平均售价目前甚至更高，因为该公司销售的是最昂贵的Air<i>梦想</i>版本优先。特斯拉是目前电动汽车的领导者，其平均售价约为5万美元。因此，与特斯拉相比，蔚来和特斯拉都在更豪华、更高端的细分市场运营。这些公司怎么能要求比特斯拉高得多的平均售价呢？有几个因素在起作用，包括品牌，但最重要的因素之一是他们出色的技术。</blockquote></p><p>NIO&#39;s battery-swapping technology, for example, allows its customers to fully &#34;recharge&#34; in a couple of minutes, while most other EVs take way longer to fully charge. Lucid doesn&#39;t employ battery-swapping, but its racing-tested 900V technology allows for both a huge range as well as for fast charging speeds - Lucid&#39;s architecture allows customers to charge up to 300 miles worth of energy in just 20 minutes. The Tesla S, for reference, uses a ~400V architecture that allows customers to recharge 200 miles in 15 minutes. Clearly, both NIO&#39;s solution, as well as Lucid&#39;s solution, seem superior compared to what Tesla is offering.</p><p><blockquote>例如，蔚来的电池交换技术允许其客户在几分钟内充满“充电”，而大多数其他电动汽车需要更长的时间才能充满电。Lucid不采用电池更换，但其经过赛车测试的900V技术既可以实现巨大的续航里程，又可以实现快速充电速度——Lucid的架构允许客户在短短20分钟内充电长达300英里的电量。作为参考，特斯拉S采用约400V架构，允许客户在15分钟内充电200英里。显然，蔚来的解决方案和Lucid的解决方案似乎都优于特斯拉提供的解决方案。</blockquote></p><p>NIO&#39;s and Lucid&#39;s tech also looks highly competitive when it comes to their respective batteries. The Lucid Air Dream has an EPA range of 520 miles, which should be sufficient for almost all use cases. NIO has a larger product portfolio compared to Lucid, but when we take a look at its top-end sedan, battery performance looks even better. The NIO ET7, with a 150kWh battery (smaller options are available, too), has a range of up to 1,000km, which equates to around 620 miles of range. Again, both NIO and Lucid perform well compared to Tesla - the flagship S Plaid has an EPA range of 350 miles. Thanks to its experience in developing and supplying racing engines for electric race cars, Lucid crafts an especially efficient engine:</p><p><blockquote>蔚来和Lucid的技术在各自的电池方面看起来也很有竞争力。Lucid Air Dream的EPA续航里程为520英里，对于几乎所有用例来说都足够了。与Lucid相比，蔚来拥有更大的产品组合，但当我们看看它的高端轿车时，电池性能看起来甚至更好。蔚来ET7配备150kWh电池（也有更小的选择），续航里程可达1,000公里，相当于约620英里的续航里程。同样，与特斯拉相比，蔚来和Lucid的表现都很好——旗舰S Plaid的EPA续航里程为350英里。凭借其在为电动赛车开发和供应赛车发动机方面的经验，Lucid制造了一款特别高效的发动机：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edf92a9709beceb826f2e86b3bc25dd6\" tg-width=\"1502\" tg-height=\"829\" referrerpolicy=\"no-referrer\"/><span>Source: Lucid presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Lucid演示</span></p></blockquote></p><p>A smaller, more efficient engine results in lower resource usage and reduces the weight of the vehicle, all else equal. This does, in turn, lead to a longer range, and it also allows for better handling and driving performance, all else equal. Lucid is by far not the biggest EV player today, but its engineers have developed some of the most compelling products and solutions among all currently active EV players.</p><p><blockquote>在其他条件相同的情况下，更小、更高效的发动机可以降低资源使用量并减轻车辆重量。反过来，这确实会带来更长的续航里程，并且在其他条件相同的情况下，还可以实现更好的操控和驾驶性能。到目前为止，Lucid还不是当今最大的电动汽车参与者，但其工程师已经开发出了一些目前所有活跃的电动汽车参与者中最引人注目的产品和解决方案。</blockquote></p><p>NIO puts a lot of focus on technologies that will eventually allow for autonomous driving and puts massive numbers of sensors and huge computing power in its vehicles today. The ET7 uses the following sensing units for that goal:</p><p><blockquote>蔚来非常关注最终实现自动驾驶的技术，并在当今的车辆中安装了大量传感器和巨大的计算能力。ET7使用以下传感单元来实现此目标：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b39530a306d0b27d76d36bccec0e147d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"/><span>Source: NIO</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：蔚来</span></p></blockquote></p><p>With 33 sensors that use up to 8MP, NIO&#39;s sensing capabilities easily blow away those of Tesla. The Tesla Model 3, which is, according to CEO Musk, ready for full-self-driving, only uses 8 cameras with 1.2MP each. One of NIO&#39;s sensors in the ET7 thus has almost as much sensing performance as all of the cameras in the M3 combined - and NIO uses 32 additional sensors in its model. Clearly, NIO&#39;s offering is superior - and that obviously comes at a price, as NIO is not skimping when it comes to putting the best tech in its vehicles. This is also showcased by the massive processing power of the chips NIO uses in the ET7. The ET7 uses four NVIDIA (NVDA) Orin SoCs, each of which offers slightly more than 250 trillion operations per second, which makes for combined computing power of more than 1,000 TOPS - unheard of in any production vehicle. Using four SoCs at the same time also provides for the redundancy that is required for critical systems in a self-driving scenario. it should be noted that NIO&#39;s self-driving tech is not as excellent on the software side - yet. At least for now, peers such as XPeng (XPEV) seem to employ the stronger algorithms, but that is a problem that NIO can solve over the coming quarters and years, and integrating future software in its vehicles that come with top-notch hardware shouldn&#39;t be a very difficult task. Lucid&#39;s self-driving tech, even though it doesn&#39;t get a lot of recognition yet, is not looking bad at all, either. The DreamDrive suite utilizes 32 onboard sensors, almost on par with NIO&#39;s Aquila system (and 4x more sensors compared to the M3, which is allegedly L5 ready from a hardware perspective).</p><p><blockquote>凭借33个高达800万像素的传感器，蔚来的传感能力轻松击败了特斯拉。据首席执行官马斯克称，特斯拉Model 3已准备好实现全自动驾驶，仅使用8个摄像头，每个摄像头为120万像素。因此，ET7中蔚来的一个传感器的传感性能几乎相当于M3中所有摄像头的总和，而蔚来在其车型中使用了32个额外的传感器。显然，蔚来的产品是优越的——这显然是有代价的，因为蔚来在将最好的技术应用到其车辆中时并不吝啬。蔚来在ET7中使用的芯片的巨大处理能力也证明了这一点。ET7使用四个NVIDIA(NVDA)Orin SoC，每个SoC每秒提供略高于250万亿次运算，总计算能力超过1,000 TOPS，这在任何量产车中都是闻所未闻的。同时使用四个SoC还可以提供自动驾驶场景中关键系统所需的冗余。应该指出的是，蔚来的自动驾驶技术在软件方面还没有那么出色。至少目前，小鹏汽车（XPEV）等同行似乎采用了更强大的算法，但这是蔚来可以在未来几个季度和几年内解决的问题，并将未来的软件集成到配备顶级硬件的车辆中不应该是一项非常困难的任务。Lucid的自动驾驶技术尽管尚未得到太多认可，但看起来也一点也不差。DreamDrive套件使用32个板载传感器，几乎与蔚来的Aquila系统相当（与M3相比，传感器多4倍，据称从硬件角度来看，M3已准备好L5）。</blockquote></p><p></p><p>Strong tech alone doesn&#39;t make for an attractive vehicle, however, as design, manufacturing quality, etc. have to be considered as well. Luckily, both NIO and Lucid compete very well on that basis, although the data on Lucid is still limited due to the low sales numbers - not too many people have driven a Lucid Air yet, thus data about reliability, etc. is limited. NIO, however, has been selling thousands of vehicles a month for quite some time, and its users are very satisfied with the vehicles&#39; quality. CnTechPost reports that J.D. Power has rated NIO the highest-quality EV company in China, ahead of Tesla. Lucid is not active in the country yet, but test drives by a wide range of auto journalists and magazines have generally resulted in very positive reviews. Both NIO and Lucid thus look strong from a design, quality, and tech perspective, with NIO putting more focus on customer-friendly items such as battery-swapping and driving assistance, whereas Lucid puts more focus on engine performance, battery tech, etc. Both avenues have their advantages, but I personally could see NIO benefit more from its easy-to-use, customer-friendly approach, as not too many people will buy an EV based on criteria such as the battery architecture. Still, Lucid&#39;s ability to develop high-performing vehicles should come in very handy in the highly competitive EV industry going forward.</p><p><blockquote>然而，仅靠强大的技术并不能造就一辆有吸引力的汽车，因为设计、制造质量等也必须考虑在内。幸运的是，蔚来和Lucid在此基础上竞争非常好，尽管由于销量较低，Lucid的数据仍然有限——还没有太多人驾驶过Lucid Air，因此有关可靠性等的数据有限。然而，蔚来已经有一段时间每月销售数千辆汽车，并且其用户对车辆的质量非常满意。CnTechPost报道J.D。Power将蔚来评为国内质量最高的电动汽车公司，领先于特斯拉。Lucid在该国尚未活跃，但众多汽车记者和杂志的试驾普遍获得了非常积极的评价。因此，从设计、质量和技术的角度来看，蔚来和Lucid看起来都很强大，蔚来更关注电池更换和驾驶辅助等客户友好型项目，而Lucid则更关注发动机性能、电池技术等。这两种途径都有其优势，但我个人认为蔚来从其易于使用、客户友好的方法中受益更多，因为没有太多人会根据电池架构等标准购买电动汽车。尽管如此，Lucid开发高性能汽车的能力在未来竞争激烈的电动汽车行业应该会非常方便。</blockquote></p><p>With NIO, the main risk the market seems to worry about now is regulation/politics. I personally do not believe that regulation will be a huge risk for NIO. Chinese companies never were able to compete successfully in the ICE vehicle space, but with EV technologies bringing change to the entire global automobile industry, China saw its chance to become a global automobile powerhouse. Hurting NIO and other Chinese EV players would run contrary to those goals, which is why I believe that China is more interested in nurturing its own EV players, including NIO, instead of hurting them. Still, the market puts a discount on every Chinese company today, and that holds true for NIO as well - which might be a good thing for those seeking to buy into the company at a below-average valuation.</p><p><blockquote>对于蔚来，市场现在担心的主要风险似乎是监管/政治。我个人不认为监管会给蔚来带来巨大风险。中国公司从未能够在内燃机汽车领域成功竞争，但随着电动汽车技术给整个全球汽车行业带来变革，中国看到了成为全球汽车强国的机会。伤害蔚来和其他中国电动汽车企业将与这些目标背道而驰，这就是为什么我认为中国更有兴趣培养自己的电动汽车企业，包括蔚来，而不是伤害他们。尽管如此，如今市场对每家中国公司都给予了折扣，蔚来也是如此——这对于那些寻求以低于平均水平的估值买入该公司的人来说可能是一件好事。</blockquote></p><p>For Lucid, regulation doesn&#39;t seem like an important risk. Instead, the main risks here are the high valuation and the production ramp. As Tesla has shown, ramping up vehicle production is no easy task. The company oftentimes had to battle with delays and other issues, sometimes summarized as &#34;Production Hell&#34;. The same could hold true for Lucid, which will have to ramp up production at a high speed in the coming months and quarters in order to meet its ambitious production goals. It&#39;s not a certainty that it will experience similar issues to other manufacturers, of course, but due to a lack of experience, this seems a considerable risk worth keeping an eye on. On top of that, LCID&#39;s high valuation could be a considerable risk - shares trade at around 30x next year&#39;s expected revenue, and there is no guarantee at all that those revenues will actually be generated.</p><p><blockquote>对于Lucid来说，监管似乎并不是一个重要的风险。相反，这里的主要风险是高估值和产量增加。正如特斯拉所表明的那样，提高汽车产量并不是一件容易的事。该公司经常不得不与延误和其他问题作斗争，有时被总结为“生产地狱”。Lucid可能也是如此，该公司将不得不在未来几个月和几个季度高速提高产量，以实现其雄心勃勃的生产目标。当然，不能确定它会遇到与其他制造商类似的问题，但由于缺乏经验，这似乎是一个值得关注的相当大的风险。最重要的是，LCID的高估值可能是一个相当大的风险——股票交易价格约为明年预期收入的30倍，而且根本不能保证这些收入会真正产生。</blockquote></p><p><b>Is Lucid Or NIO Stock The Better Buy?</b></p><p><blockquote><b>Lucid或蔚来股票更值得购买吗？</b></blockquote></p><p>Both NIO and Lucid have attractive products that seem highly competitive in the EV market that is seeing more and more entrants. I do believe that both companies will have operational success over the coming years, driven by strong tech, attractive brands, and compelling product quality. Operational growth does not necessarily result in share price growth, however, as valuations can be a major hurdle when one buys at a price that is too high.</p><p><blockquote>蔚来和Lucid都拥有有吸引力的产品，这些产品在越来越多进入者的电动汽车市场中似乎极具竞争力。我确实相信，在强大的技术、有吸引力的品牌和引人注目的产品质量的推动下，两家公司将在未来几年取得运营成功。然而，运营增长并不一定会导致股价增长，因为当人们以过高的价格买入时，估值可能会成为一个主要障碍。</blockquote></p><p>In NIO&#39;s case, that does not seem like an overly large risk, as shares are inexpensive relative to how other EV players are valued - NIO trades at ~4x next year&#39;s expected revenue, which represents a clear discount compared to LCID, RIVN, TSLA, and so on. Lucid, on the other hand, is trading at a very premium valuation of 30x next year&#39;s sales.</p><p><blockquote>就蔚来而言，这似乎并不是一个过大的风险，因为相对于其他电动汽车公司的估值而言，其股价并不昂贵——蔚来的交易价格约为明年预期收入的4倍，与LCID、RIVN、TSLA相比有明显的折扣，等等。另一方面，Lucid的估值非常高，是明年销售额的30倍。</blockquote></p><p>I do believe that, based on its larger size, more established operations, better progress in ramping production, and due to its much more reasonable valuation, NIO is the better pick among these two today.The recent share price decline makes for an attractive entry point for those interested in owning this top-notch Chinese EV player.</p><p><blockquote>我确实相信，基于其更大的规模、更成熟的业务、更好的增产进展，以及更合理的估值，蔚来是当今这两家公司中更好的选择。对于那些有兴趣拥有这家顶级中国电动汽车公司的人来说，最近的股价下跌是一个有吸引力的切入点。</blockquote></p><p></body></html></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>Lucid Vs. NIO Stock: Which EV Stock Is The Better Buy?<blockquote>Lucid与蔚来股票：哪只电动汽车股票更值得购买？</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\">\nLucid Vs. NIO Stock: Which EV Stock Is The Better Buy?<blockquote>Lucid与蔚来股票：哪只电动汽车股票更值得购买？</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\">2021-12-30 23:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>Summary</b></p><p><blockquote><html><head></head><body><b>总结</b></body></html></blockquote></p><p><ul><li>The EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.</li><li>Both NIO and LCID have strong brands and great tech, which allow them to demand high ASPs.</li><li>NIO seems like the lower-risk choice among these two, and due to being a lot farther along from a production ramp perspective, it is, I believe, the better choice today.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0fe01e445aec1bb67f1b8d810f551603\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"/><span>Trygve Finkelsen/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>电动汽车市场的竞争越来越激烈。拥有强大的品牌或技术对于公司脱颖而出非常重要。</li><li>蔚来和LCID都拥有强大的品牌和出色的技术，这使得它们能够要求很高的平均售价。</li><li>蔚来似乎是这两者中风险较低的选择，而且由于从产量增长的角度来看，它走得更远，我相信它是当今更好的选择。</li></ul><p class=\"t-img-caption\"><span>Trygve Finkelsen/iStock社论来自Getty Images</span></p></blockquote></p><p><b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p>The EV space has brought up many companies that do not seem too viable in the long run, but there are also strong contenders apart from Tesla (TSLA). In this report, we&#39;ll pit Lucid Group, Inc. (LCID) and NIO Inc. (NIO) against each other - two of the most interesting EV players that combine strong brands and high-end technological capabilities. In this report, we&#39;ll take a deeper dive into the tech and product side and will look at individual risks for both companies. Overall, I do believe that NIO is the more attractive choice among these two at current prices.</p><p><blockquote>电动汽车领域催生了许多从长远来看似乎不太可行的公司，但除了特斯拉（TSLA）之外，也有强有力的竞争者。在本报告中，我们将对Lucid Group，Inc.(LCID)和蔚来（蔚来）进行对比，这两家最有趣的电动汽车公司结合了强大的品牌和高端技术能力。在本报告中，我们将更深入地探讨技术和产品方面，并探讨两家公司的个别风险。总体而言，我确实相信以目前的价格来看，蔚来是这两个选择中更具吸引力的。</blockquote></p><p><b>Lucid And NIO In The EV Market</b></p><p><blockquote><b>电动汽车市场的Lucid和蔚来</b></blockquote></p><p>The global EV market has been growing rapidly, with EV sales likely coming in a little north of six million, which is roughly twice as high as during the previous year. Clearly, EVs are a huge growth sector in the global automobile market, although it should be noted that most vehicles sold around the world are still powered by internal combustion engines. Over the years, EV market share should continue to climb rapidly, but it is not looking like EVs will dominate ICE vehicles any time soon.</p><p><blockquote>全球电动汽车市场一直在快速增长，电动汽车销量可能略高于600万辆，大约是上一年的两倍。显然，电动汽车是全球汽车市场的一个巨大增长领域，尽管应该指出的是，全球销售的大多数车辆仍然由内燃机驱动。多年来，电动汽车市场份额应该会继续快速攀升，但电动汽车似乎不会很快主导内燃机汽车。</blockquote></p><p>The market leaders in the EV space are Tesla and BYD (OTCPK:BYDDY), and, depending on how one counts plug-in hybrids, Volkswagen (OTCPK:VWAGY). NIO Inc. and Lucid Group, Inc. are not among the largest companies for now. NIO is selling around 11,000 vehicles a month right now, which translates into a ~130,000 annual sales pace. Sales have been growing quickly, however, which is why NIO will most likely sell more than 130,000 vehicles next year, as deliveries should continue to climb sequentially. Lucid is way smaller for now, in terms of deliveries, as the company has likely sold a couple of hundred vehicles this year. Next year, Lucid Group targets deliveries of around 20,000 vehicles - up by a lot versus 2021, but still a relatively small number compared to the deliveries NIO and many other peers will hit next year.</p><p><blockquote>电动汽车领域的市场领导者是特斯拉和比亚迪（OTCPK：BYDDY），以及大众汽车（OTCPK：VWAGY），具体取决于插电式混合动力车的计算方式。蔚来和Lucid Group，Inc.目前还不是最大的公司。蔚来目前每月销售约11,000辆汽车，相当于年销量约130,000辆。然而，销量一直在快速增长，这就是为什么蔚来明年的销量很可能会超过13万辆，因为交付量应该会继续连续攀升。就交付量而言，Lucid目前的规模要小得多，因为该公司今年可能已售出数百辆汽车。明年，Lucid Group的目标是交付约20,000辆汽车，比2021年增长很多，但与蔚来和许多其他同行明年的交付量相比，这个数字仍然相对较小。</blockquote></p><p><b>LCID Vs. NIO&#39;s Past Quarterly Performance</b></p><p><blockquote><b>LCID与蔚来过去的季度表现</b></blockquote></p><p>As noted above, NIO&#39;s sales performance was way stronger than that of Lucid over the last three months, but that was hardly a surprise as LCID just began delivering vehicles to customers. On a share price basis, however, Lucid fared better:</p><p><blockquote>如上所述，蔚来过去三个月的销售业绩远强于Lucid，但这并不奇怪，因为LCID刚刚开始向客户交付车辆。然而，从股价来看，Lucid的表现更好：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7a6e7cb1b1485f32cc25ade9f387a5b\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Over the last three months, LCID is up close to 50%, whereas NIO saw its shares drop by close to 20% over the same time frame. In NIO&#39;s case, macro worries about Chinese regulation played a role, whereas LCID benefitted a lot from growing enthusiasm for US-based EV players caused by Rivian&#39;s (RIVN) huge IPO success. On top of that, the start of deliveries also attracted new investors to Lucid&#39;s stock. If analysts are correct, NIO is the much better value today:</p><p><blockquote>过去三个月，LCID上涨了近50%，而蔚来的股价同期下跌了近20%。就蔚来而言，对中国监管的宏观担忧发挥了作用，而LCID则从Rivian(RIVN)IPO的巨大成功引发的对美国电动汽车企业日益增长的热情中受益匪浅。最重要的是，交付的开始也吸引了新投资者购买Lucid的股票。如果分析师是正确的，那么蔚来今天的价值要高得多：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b1d0939d657b284e25d8447ccb211b5\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Shares are trading at less than half the consensus price target, which implies 100%+ upside over the next year, whereas LCID is trading almost perfectly in line with the current consensus price target - which implies no upside over the next year. NIO&#39;s underperformance over the last quarter thus seems to position the company well for a strong performance from the current level, whereas the same can&#39;t be said about Lucid.</p><p><blockquote>该股的交易价格不到共识价格目标的一半，这意味着明年有100%以上的上涨空间，而LCID的交易价格几乎完全符合当前的共识价格目标，这意味着明年没有上涨空间。因此，蔚来上个季度的表现不佳似乎使该公司在当前水平上表现强劲，而Lucid则不然。</blockquote></p><p><b>Lucid Vs. NIO Key Metrics</b></p><p><blockquote><b>Lucid与蔚来关键指标</b></blockquote></p><p></p><p>Let&#39;s take a deeper look at the tech of the two companies, as well as at their branding, and their specific key risks. Both NIO and Lucid are active in the high-end segment of the EV industry, selling vehicles with ASPs well north of the average Tesla. NIO&#39;s ASP is around $70,000, and Lucid&#39;s ASP is even higher than that for now, as the company is selling the most expensive Air<i>Dream</i>version first. Tesla, the current EV leader, has an ASP of around $50,000. Both NIO and Tesla are thus operating in a more luxurious, higher-end segment of the market compared to Tesla. How are these companies able to demand way higher ASPs than Tesla? There are several factors at play, including branding, but one of the most important factors is their great tech.</p><p><blockquote>让我们更深入地了解这两家公司的技术、品牌及其具体的主要风险。蔚来和Lucid都活跃在电动汽车行业的高端领域，销售的汽车平均售价远高于特斯拉的平均水平。蔚来的平均售价约为7万美元，Lucid的平均售价目前甚至更高，因为该公司销售的是最昂贵的Air<i>梦想</i>版本优先。特斯拉是目前电动汽车的领导者，其平均售价约为5万美元。因此，与特斯拉相比，蔚来和特斯拉都在更豪华、更高端的细分市场运营。这些公司怎么能要求比特斯拉高得多的平均售价呢？有几个因素在起作用，包括品牌，但最重要的因素之一是他们出色的技术。</blockquote></p><p>NIO&#39;s battery-swapping technology, for example, allows its customers to fully &#34;recharge&#34; in a couple of minutes, while most other EVs take way longer to fully charge. Lucid doesn&#39;t employ battery-swapping, but its racing-tested 900V technology allows for both a huge range as well as for fast charging speeds - Lucid&#39;s architecture allows customers to charge up to 300 miles worth of energy in just 20 minutes. The Tesla S, for reference, uses a ~400V architecture that allows customers to recharge 200 miles in 15 minutes. Clearly, both NIO&#39;s solution, as well as Lucid&#39;s solution, seem superior compared to what Tesla is offering.</p><p><blockquote>例如，蔚来的电池交换技术允许其客户在几分钟内充满“充电”，而大多数其他电动汽车需要更长的时间才能充满电。Lucid不采用电池更换，但其经过赛车测试的900V技术既可以实现巨大的续航里程，又可以实现快速充电速度——Lucid的架构允许客户在短短20分钟内充电长达300英里的电量。作为参考，特斯拉S采用约400V架构，允许客户在15分钟内充电200英里。显然，蔚来的解决方案和Lucid的解决方案似乎都优于特斯拉提供的解决方案。</blockquote></p><p>NIO&#39;s and Lucid&#39;s tech also looks highly competitive when it comes to their respective batteries. The Lucid Air Dream has an EPA range of 520 miles, which should be sufficient for almost all use cases. NIO has a larger product portfolio compared to Lucid, but when we take a look at its top-end sedan, battery performance looks even better. The NIO ET7, with a 150kWh battery (smaller options are available, too), has a range of up to 1,000km, which equates to around 620 miles of range. Again, both NIO and Lucid perform well compared to Tesla - the flagship S Plaid has an EPA range of 350 miles. Thanks to its experience in developing and supplying racing engines for electric race cars, Lucid crafts an especially efficient engine:</p><p><blockquote>蔚来和Lucid的技术在各自的电池方面看起来也很有竞争力。Lucid Air Dream的EPA续航里程为520英里，对于几乎所有用例来说都足够了。与Lucid相比，蔚来拥有更大的产品组合，但当我们看看它的高端轿车时，电池性能看起来甚至更好。蔚来ET7配备150kWh电池（也有更小的选择），续航里程可达1,000公里，相当于约620英里的续航里程。同样，与特斯拉相比，蔚来和Lucid的表现都很好——旗舰S Plaid的EPA续航里程为350英里。凭借其在为电动赛车开发和供应赛车发动机方面的经验，Lucid制造了一款特别高效的发动机：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edf92a9709beceb826f2e86b3bc25dd6\" tg-width=\"1502\" tg-height=\"829\" referrerpolicy=\"no-referrer\"/><span>Source: Lucid presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Lucid演示</span></p></blockquote></p><p>A smaller, more efficient engine results in lower resource usage and reduces the weight of the vehicle, all else equal. This does, in turn, lead to a longer range, and it also allows for better handling and driving performance, all else equal. Lucid is by far not the biggest EV player today, but its engineers have developed some of the most compelling products and solutions among all currently active EV players.</p><p><blockquote>在其他条件相同的情况下，更小、更高效的发动机可以降低资源使用量并减轻车辆重量。反过来，这确实会带来更长的续航里程，并且在其他条件相同的情况下，还可以实现更好的操控和驾驶性能。到目前为止，Lucid还不是当今最大的电动汽车参与者，但其工程师已经开发出了一些目前所有活跃的电动汽车参与者中最引人注目的产品和解决方案。</blockquote></p><p>NIO puts a lot of focus on technologies that will eventually allow for autonomous driving and puts massive numbers of sensors and huge computing power in its vehicles today. The ET7 uses the following sensing units for that goal:</p><p><blockquote>蔚来非常关注最终实现自动驾驶的技术，并在当今的车辆中安装了大量传感器和巨大的计算能力。ET7使用以下传感单元来实现此目标：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b39530a306d0b27d76d36bccec0e147d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"/><span>Source: NIO</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：蔚来</span></p></blockquote></p><p>With 33 sensors that use up to 8MP, NIO&#39;s sensing capabilities easily blow away those of Tesla. The Tesla Model 3, which is, according to CEO Musk, ready for full-self-driving, only uses 8 cameras with 1.2MP each. One of NIO&#39;s sensors in the ET7 thus has almost as much sensing performance as all of the cameras in the M3 combined - and NIO uses 32 additional sensors in its model. Clearly, NIO&#39;s offering is superior - and that obviously comes at a price, as NIO is not skimping when it comes to putting the best tech in its vehicles. This is also showcased by the massive processing power of the chips NIO uses in the ET7. The ET7 uses four NVIDIA (NVDA) Orin SoCs, each of which offers slightly more than 250 trillion operations per second, which makes for combined computing power of more than 1,000 TOPS - unheard of in any production vehicle. Using four SoCs at the same time also provides for the redundancy that is required for critical systems in a self-driving scenario. it should be noted that NIO&#39;s self-driving tech is not as excellent on the software side - yet. At least for now, peers such as XPeng (XPEV) seem to employ the stronger algorithms, but that is a problem that NIO can solve over the coming quarters and years, and integrating future software in its vehicles that come with top-notch hardware shouldn&#39;t be a very difficult task. Lucid&#39;s self-driving tech, even though it doesn&#39;t get a lot of recognition yet, is not looking bad at all, either. The DreamDrive suite utilizes 32 onboard sensors, almost on par with NIO&#39;s Aquila system (and 4x more sensors compared to the M3, which is allegedly L5 ready from a hardware perspective).</p><p><blockquote>凭借33个高达800万像素的传感器，蔚来的传感能力轻松击败了特斯拉。据首席执行官马斯克称，特斯拉Model 3已准备好实现全自动驾驶，仅使用8个摄像头，每个摄像头为120万像素。因此，ET7中蔚来的一个传感器的传感性能几乎相当于M3中所有摄像头的总和，而蔚来在其车型中使用了32个额外的传感器。显然，蔚来的产品是优越的——这显然是有代价的，因为蔚来在将最好的技术应用到其车辆中时并不吝啬。蔚来在ET7中使用的芯片的巨大处理能力也证明了这一点。ET7使用四个NVIDIA(NVDA)Orin SoC，每个SoC每秒提供略高于250万亿次运算，总计算能力超过1,000 TOPS，这在任何量产车中都是闻所未闻的。同时使用四个SoC还可以提供自动驾驶场景中关键系统所需的冗余。应该指出的是，蔚来的自动驾驶技术在软件方面还没有那么出色。至少目前，小鹏汽车（XPEV）等同行似乎采用了更强大的算法，但这是蔚来可以在未来几个季度和几年内解决的问题，并将未来的软件集成到配备顶级硬件的车辆中不应该是一项非常困难的任务。Lucid的自动驾驶技术尽管尚未得到太多认可，但看起来也一点也不差。DreamDrive套件使用32个板载传感器，几乎与蔚来的Aquila系统相当（与M3相比，传感器多4倍，据称从硬件角度来看，M3已准备好L5）。</blockquote></p><p></p><p>Strong tech alone doesn&#39;t make for an attractive vehicle, however, as design, manufacturing quality, etc. have to be considered as well. Luckily, both NIO and Lucid compete very well on that basis, although the data on Lucid is still limited due to the low sales numbers - not too many people have driven a Lucid Air yet, thus data about reliability, etc. is limited. NIO, however, has been selling thousands of vehicles a month for quite some time, and its users are very satisfied with the vehicles&#39; quality. CnTechPost reports that J.D. Power has rated NIO the highest-quality EV company in China, ahead of Tesla. Lucid is not active in the country yet, but test drives by a wide range of auto journalists and magazines have generally resulted in very positive reviews. Both NIO and Lucid thus look strong from a design, quality, and tech perspective, with NIO putting more focus on customer-friendly items such as battery-swapping and driving assistance, whereas Lucid puts more focus on engine performance, battery tech, etc. Both avenues have their advantages, but I personally could see NIO benefit more from its easy-to-use, customer-friendly approach, as not too many people will buy an EV based on criteria such as the battery architecture. Still, Lucid&#39;s ability to develop high-performing vehicles should come in very handy in the highly competitive EV industry going forward.</p><p><blockquote>然而，仅靠强大的技术并不能造就一辆有吸引力的汽车，因为设计、制造质量等也必须考虑在内。幸运的是，蔚来和Lucid在此基础上竞争非常好，尽管由于销量较低，Lucid的数据仍然有限——还没有太多人驾驶过Lucid Air，因此有关可靠性等的数据有限。然而，蔚来已经有一段时间每月销售数千辆汽车，并且其用户对车辆的质量非常满意。CnTechPost报道J.D。Power将蔚来评为国内质量最高的电动汽车公司，领先于特斯拉。Lucid在该国尚未活跃，但众多汽车记者和杂志的试驾普遍获得了非常积极的评价。因此，从设计、质量和技术的角度来看，蔚来和Lucid看起来都很强大，蔚来更关注电池更换和驾驶辅助等客户友好型项目，而Lucid则更关注发动机性能、电池技术等。这两种途径都有其优势，但我个人认为蔚来从其易于使用、客户友好的方法中受益更多，因为没有太多人会根据电池架构等标准购买电动汽车。尽管如此，Lucid开发高性能汽车的能力在未来竞争激烈的电动汽车行业应该会非常方便。</blockquote></p><p>With NIO, the main risk the market seems to worry about now is regulation/politics. I personally do not believe that regulation will be a huge risk for NIO. Chinese companies never were able to compete successfully in the ICE vehicle space, but with EV technologies bringing change to the entire global automobile industry, China saw its chance to become a global automobile powerhouse. Hurting NIO and other Chinese EV players would run contrary to those goals, which is why I believe that China is more interested in nurturing its own EV players, including NIO, instead of hurting them. Still, the market puts a discount on every Chinese company today, and that holds true for NIO as well - which might be a good thing for those seeking to buy into the company at a below-average valuation.</p><p><blockquote>对于蔚来，市场现在担心的主要风险似乎是监管/政治。我个人不认为监管会给蔚来带来巨大风险。中国公司从未能够在内燃机汽车领域成功竞争，但随着电动汽车技术给整个全球汽车行业带来变革，中国看到了成为全球汽车强国的机会。伤害蔚来和其他中国电动汽车企业将与这些目标背道而驰，这就是为什么我认为中国更有兴趣培养自己的电动汽车企业，包括蔚来，而不是伤害他们。尽管如此，如今市场对每家中国公司都给予了折扣，蔚来也是如此——这对于那些寻求以低于平均水平的估值买入该公司的人来说可能是一件好事。</blockquote></p><p>For Lucid, regulation doesn&#39;t seem like an important risk. Instead, the main risks here are the high valuation and the production ramp. As Tesla has shown, ramping up vehicle production is no easy task. The company oftentimes had to battle with delays and other issues, sometimes summarized as &#34;Production Hell&#34;. The same could hold true for Lucid, which will have to ramp up production at a high speed in the coming months and quarters in order to meet its ambitious production goals. It&#39;s not a certainty that it will experience similar issues to other manufacturers, of course, but due to a lack of experience, this seems a considerable risk worth keeping an eye on. On top of that, LCID&#39;s high valuation could be a considerable risk - shares trade at around 30x next year&#39;s expected revenue, and there is no guarantee at all that those revenues will actually be generated.</p><p><blockquote>对于Lucid来说，监管似乎并不是一个重要的风险。相反，这里的主要风险是高估值和产量增加。正如特斯拉所表明的那样，提高汽车产量并不是一件容易的事。该公司经常不得不与延误和其他问题作斗争，有时被总结为“生产地狱”。Lucid可能也是如此，该公司将不得不在未来几个月和几个季度高速提高产量，以实现其雄心勃勃的生产目标。当然，不能确定它会遇到与其他制造商类似的问题，但由于缺乏经验，这似乎是一个值得关注的相当大的风险。最重要的是，LCID的高估值可能是一个相当大的风险——股票交易价格约为明年预期收入的30倍，而且根本不能保证这些收入会真正产生。</blockquote></p><p><b>Is Lucid Or NIO Stock The Better Buy?</b></p><p><blockquote><b>Lucid或蔚来股票更值得购买吗？</b></blockquote></p><p>Both NIO and Lucid have attractive products that seem highly competitive in the EV market that is seeing more and more entrants. I do believe that both companies will have operational success over the coming years, driven by strong tech, attractive brands, and compelling product quality. Operational growth does not necessarily result in share price growth, however, as valuations can be a major hurdle when one buys at a price that is too high.</p><p><blockquote>蔚来和Lucid都拥有有吸引力的产品，这些产品在越来越多进入者的电动汽车市场中似乎极具竞争力。我确实相信，在强大的技术、有吸引力的品牌和引人注目的产品质量的推动下，两家公司将在未来几年取得运营成功。然而，运营增长并不一定会导致股价增长，因为当人们以过高的价格买入时，估值可能会成为一个主要障碍。</blockquote></p><p>In NIO&#39;s case, that does not seem like an overly large risk, as shares are inexpensive relative to how other EV players are valued - NIO trades at ~4x next year&#39;s expected revenue, which represents a clear discount compared to LCID, RIVN, TSLA, and so on. Lucid, on the other hand, is trading at a very premium valuation of 30x next year&#39;s sales.</p><p><blockquote>就蔚来而言，这似乎并不是一个过大的风险，因为相对于其他电动汽车公司的估值而言，其股价并不昂贵——蔚来的交易价格约为明年预期收入的4倍，与LCID、RIVN、TSLA相比有明显的折扣，等等。另一方面，Lucid的估值非常高，是明年销售额的30倍。</blockquote></p><p>I do believe that, based on its larger size, more established operations, better progress in ramping production, and due to its much more reasonable valuation, NIO is the better pick among these two today.The recent share price decline makes for an attractive entry point for those interested in owning this top-notch Chinese EV player.</p><p><blockquote>我确实相信，基于其更大的规模、更成熟的业务、更好的增产进展，以及更合理的估值，蔚来是当今这两家公司中更好的选择。对于那些有兴趣拥有这家顶级中国电动汽车公司的人来说，最近的股价下跌是一个有吸引力的切入点。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4477181-lucid-vs-nio-stock-better-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":{"LCID":"Lucid Group Inc","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4477181-lucid-vs-nio-stock-better-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139674064","content_text":"SummaryThe EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.Both NIO and LCID have strong brands and great tech, which allow them to demand high ASPs.NIO seems like the lower-risk choice among these two, and due to being a lot farther along from a production ramp perspective, it is, I believe, the better choice today.Trygve Finkelsen/iStock Editorial via Getty ImagesArticle ThesisThe EV space has brought up many companies that do not seem too viable in the long run, but there are also strong contenders apart from Tesla (TSLA). In this report, we'll pit Lucid Group, Inc. (LCID) and NIO Inc. (NIO) against each other - two of the most interesting EV players that combine strong brands and high-end technological capabilities. In this report, we'll take a deeper dive into the tech and product side and will look at individual risks for both companies. Overall, I do believe that NIO is the more attractive choice among these two at current prices.Lucid And NIO In The EV MarketThe global EV market has been growing rapidly, with EV sales likely coming in a little north of six million, which is roughly twice as high as during the previous year. Clearly, EVs are a huge growth sector in the global automobile market, although it should be noted that most vehicles sold around the world are still powered by internal combustion engines. Over the years, EV market share should continue to climb rapidly, but it is not looking like EVs will dominate ICE vehicles any time soon.The market leaders in the EV space are Tesla and BYD (OTCPK:BYDDY), and, depending on how one counts plug-in hybrids, Volkswagen (OTCPK:VWAGY). NIO Inc. and Lucid Group, Inc. are not among the largest companies for now. NIO is selling around 11,000 vehicles a month right now, which translates into a ~130,000 annual sales pace. Sales have been growing quickly, however, which is why NIO will most likely sell more than 130,000 vehicles next year, as deliveries should continue to climb sequentially. Lucid is way smaller for now, in terms of deliveries, as the company has likely sold a couple of hundred vehicles this year. Next year, Lucid Group targets deliveries of around 20,000 vehicles - up by a lot versus 2021, but still a relatively small number compared to the deliveries NIO and many other peers will hit next year.LCID Vs. NIO's Past Quarterly PerformanceAs noted above, NIO's sales performance was way stronger than that of Lucid over the last three months, but that was hardly a surprise as LCID just began delivering vehicles to customers. On a share price basis, however, Lucid fared better:Data by YChartsOver the last three months, LCID is up close to 50%, whereas NIO saw its shares drop by close to 20% over the same time frame. In NIO's case, macro worries about Chinese regulation played a role, whereas LCID benefitted a lot from growing enthusiasm for US-based EV players caused by Rivian's (RIVN) huge IPO success. On top of that, the start of deliveries also attracted new investors to Lucid's stock. If analysts are correct, NIO is the much better value today:Data by YChartsShares are trading at less than half the consensus price target, which implies 100%+ upside over the next year, whereas LCID is trading almost perfectly in line with the current consensus price target - which implies no upside over the next year. NIO's underperformance over the last quarter thus seems to position the company well for a strong performance from the current level, whereas the same can't be said about Lucid.Lucid Vs. NIO Key MetricsLet's take a deeper look at the tech of the two companies, as well as at their branding, and their specific key risks. Both NIO and Lucid are active in the high-end segment of the EV industry, selling vehicles with ASPs well north of the average Tesla. NIO's ASP is around $70,000, and Lucid's ASP is even higher than that for now, as the company is selling the most expensive AirDreamversion first. Tesla, the current EV leader, has an ASP of around $50,000. Both NIO and Tesla are thus operating in a more luxurious, higher-end segment of the market compared to Tesla. How are these companies able to demand way higher ASPs than Tesla? There are several factors at play, including branding, but one of the most important factors is their great tech.NIO's battery-swapping technology, for example, allows its customers to fully \"recharge\" in a couple of minutes, while most other EVs take way longer to fully charge. Lucid doesn't employ battery-swapping, but its racing-tested 900V technology allows for both a huge range as well as for fast charging speeds - Lucid's architecture allows customers to charge up to 300 miles worth of energy in just 20 minutes. The Tesla S, for reference, uses a ~400V architecture that allows customers to recharge 200 miles in 15 minutes. Clearly, both NIO's solution, as well as Lucid's solution, seem superior compared to what Tesla is offering.NIO's and Lucid's tech also looks highly competitive when it comes to their respective batteries. The Lucid Air Dream has an EPA range of 520 miles, which should be sufficient for almost all use cases. NIO has a larger product portfolio compared to Lucid, but when we take a look at its top-end sedan, battery performance looks even better. The NIO ET7, with a 150kWh battery (smaller options are available, too), has a range of up to 1,000km, which equates to around 620 miles of range. Again, both NIO and Lucid perform well compared to Tesla - the flagship S Plaid has an EPA range of 350 miles. Thanks to its experience in developing and supplying racing engines for electric race cars, Lucid crafts an especially efficient engine:Source: Lucid presentationA smaller, more efficient engine results in lower resource usage and reduces the weight of the vehicle, all else equal. This does, in turn, lead to a longer range, and it also allows for better handling and driving performance, all else equal. Lucid is by far not the biggest EV player today, but its engineers have developed some of the most compelling products and solutions among all currently active EV players.NIO puts a lot of focus on technologies that will eventually allow for autonomous driving and puts massive numbers of sensors and huge computing power in its vehicles today. The ET7 uses the following sensing units for that goal:Source: NIOWith 33 sensors that use up to 8MP, NIO's sensing capabilities easily blow away those of Tesla. The Tesla Model 3, which is, according to CEO Musk, ready for full-self-driving, only uses 8 cameras with 1.2MP each. One of NIO's sensors in the ET7 thus has almost as much sensing performance as all of the cameras in the M3 combined - and NIO uses 32 additional sensors in its model. Clearly, NIO's offering is superior - and that obviously comes at a price, as NIO is not skimping when it comes to putting the best tech in its vehicles. This is also showcased by the massive processing power of the chips NIO uses in the ET7. The ET7 uses four NVIDIA (NVDA) Orin SoCs, each of which offers slightly more than 250 trillion operations per second, which makes for combined computing power of more than 1,000 TOPS - unheard of in any production vehicle. Using four SoCs at the same time also provides for the redundancy that is required for critical systems in a self-driving scenario. it should be noted that NIO's self-driving tech is not as excellent on the software side - yet. At least for now, peers such as XPeng (XPEV) seem to employ the stronger algorithms, but that is a problem that NIO can solve over the coming quarters and years, and integrating future software in its vehicles that come with top-notch hardware shouldn't be a very difficult task. Lucid's self-driving tech, even though it doesn't get a lot of recognition yet, is not looking bad at all, either. The DreamDrive suite utilizes 32 onboard sensors, almost on par with NIO's Aquila system (and 4x more sensors compared to the M3, which is allegedly L5 ready from a hardware perspective).Strong tech alone doesn't make for an attractive vehicle, however, as design, manufacturing quality, etc. have to be considered as well. Luckily, both NIO and Lucid compete very well on that basis, although the data on Lucid is still limited due to the low sales numbers - not too many people have driven a Lucid Air yet, thus data about reliability, etc. is limited. NIO, however, has been selling thousands of vehicles a month for quite some time, and its users are very satisfied with the vehicles' quality. CnTechPost reports that J.D. Power has rated NIO the highest-quality EV company in China, ahead of Tesla. Lucid is not active in the country yet, but test drives by a wide range of auto journalists and magazines have generally resulted in very positive reviews. Both NIO and Lucid thus look strong from a design, quality, and tech perspective, with NIO putting more focus on customer-friendly items such as battery-swapping and driving assistance, whereas Lucid puts more focus on engine performance, battery tech, etc. Both avenues have their advantages, but I personally could see NIO benefit more from its easy-to-use, customer-friendly approach, as not too many people will buy an EV based on criteria such as the battery architecture. Still, Lucid's ability to develop high-performing vehicles should come in very handy in the highly competitive EV industry going forward.With NIO, the main risk the market seems to worry about now is regulation/politics. I personally do not believe that regulation will be a huge risk for NIO. Chinese companies never were able to compete successfully in the ICE vehicle space, but with EV technologies bringing change to the entire global automobile industry, China saw its chance to become a global automobile powerhouse. Hurting NIO and other Chinese EV players would run contrary to those goals, which is why I believe that China is more interested in nurturing its own EV players, including NIO, instead of hurting them. Still, the market puts a discount on every Chinese company today, and that holds true for NIO as well - which might be a good thing for those seeking to buy into the company at a below-average valuation.For Lucid, regulation doesn't seem like an important risk. Instead, the main risks here are the high valuation and the production ramp. As Tesla has shown, ramping up vehicle production is no easy task. The company oftentimes had to battle with delays and other issues, sometimes summarized as \"Production Hell\". The same could hold true for Lucid, which will have to ramp up production at a high speed in the coming months and quarters in order to meet its ambitious production goals. It's not a certainty that it will experience similar issues to other manufacturers, of course, but due to a lack of experience, this seems a considerable risk worth keeping an eye on. On top of that, LCID's high valuation could be a considerable risk - shares trade at around 30x next year's expected revenue, and there is no guarantee at all that those revenues will actually be generated.Is Lucid Or NIO Stock The Better Buy?Both NIO and Lucid have attractive products that seem highly competitive in the EV market that is seeing more and more entrants. I do believe that both companies will have operational success over the coming years, driven by strong tech, attractive brands, and compelling product quality. Operational growth does not necessarily result in share price growth, however, as valuations can be a major hurdle when one buys at a price that is too high.In NIO's case, that does not seem like an overly large risk, as shares are inexpensive relative to how other EV players are valued - NIO trades at ~4x next year's expected revenue, which represents a clear discount compared to LCID, RIVN, TSLA, and so on. Lucid, on the other hand, is trading at a very premium valuation of 30x next year's sales.I do believe that, based on its larger size, more established operations, better progress in ramping production, and due to its much more reasonable valuation, NIO is the better pick among these two today.The recent share price decline makes for an attractive entry point for those interested in owning this top-notch Chinese EV player.","news_type":1,"symbols_score_info":{"LCID":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":2137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691294053,"gmtCreate":1640191312464,"gmtModify":1640191312556,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691294053","repostId":"1157274137","repostType":4,"repost":{"id":"1157274137","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":1640183410,"share":"https://www.laohu8.com/m/news/1157274137?lang=zh_CN&edition=full","pubTime":"2021-12-22 22:30","market":"us","language":"en","title":"Stocks trade mixed after rally, with tech under pressure<blockquote>股市反弹后涨跌互现，科技股承压</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1157274137","media":"Tiger Newspress","summary":"Stocks traded mixed on Wednesday to steady after Tuesday's session, when the major equity indexes ra","content":"<p>Stocks traded mixed on Wednesday to steady after Tuesday's session, when the major equity indexes rallied after three consecutive sessions of declines. The S&amp;P 500, Dow and Nasdaq opened in slightly negative territory.</p><p><blockquote>周三股市涨跌互现，周二盘中企稳，主要股指在连续三个交易日下跌后反弹。标普500、道琼斯指数和纳斯达克指数开盘小幅下跌。</blockquote></p><p> With trading volume relatively light during the holiday-shortened week, investors have continued to assess a multitude of developments on the Omicron variant and its potential impact on economic activity. These updates have come alongside expectations for tighter monetary policy next year from the Federal Reserve.</p><p><blockquote>由于假期缩短的一周交易量相对清淡，投资者继续评估奥密克戎变体的众多发展及其对经济活动的潜在影响。这些更新伴随着美联储明年收紧货币政策的预期。</blockquote></p><p> Omicron has overtaken other coronavirus variants to become the dominant strain in the U.S., and now&nbsp;accounts for about three-quarters of new infections.Against this backdrop,President Joe Biden on Tuesday announced a series of new measures to address the virus, including opening additional federal COVID-19 testing and vaccination sites and sending500 million at-home rapid tests&nbsp;to Americans for free beginning next month.</p><p><blockquote>奥密克戎病毒已经超过其他冠状病毒变种，成为美国的主要毒株，目前约占新感染病例的四分之三。在此背景下，乔·拜登总统周二宣布了一系列应对该病毒的新措施，包括开放更多的联邦COVID-19检测和疫苗接种点，以及从下个月开始向美国人免费提供5亿次家庭快速检测。</blockquote></p><p> \"I think this is a perfect time to remind everybody that the market is a leading indicator. So the market is going to go down, the market is going to bottom before the bad news peaks,\" Liz Young, SoFi head of investment strategy, told Yahoo Finance Live on Tuesday. \"We likely haven't heard all of the bad news yet. We certainly haven't hit a peak in the Omicron cases.\"</p><p><blockquote>SoFi投资策略主管Liz Young周二告诉雅虎财经直播：“我认为这是提醒大家市场是领先指标的绝佳时机。因此，市场将会下跌，市场将在坏消息见顶之前触底。”“我们可能还没有听到所有的坏消息。我们的奥密克戎病例肯定还没有达到顶峰。”</blockquote></p><p> \"But what we're seeing in the action [Tuesday] is that, we've had three days of a sell-off. And some of that I think was overdone, especially in a lot of these areas that are positioned to do well in a reopening environment,\" she added. \"You have to have some money in the market in areas that should do well in that particular way. Airlines are one of those, cyclicals are more of those. When we look at the pattern in the market today, I think this makes sense for what's ahead for the next 6 to 12 months.\"</p><p><blockquote>“但我们在（周二）的行动中看到的是，我们已经经历了三天的抛售。我认为其中一些太过分了，特别是在许多有望表现良好的领域。在重新开放的环境中，”她补充道。“你必须在市场上拥有一些资金，投资于应该以这种特定方式表现良好的领域。航空公司就是其中之一，周期性股票更多。当我们审视当今市场的模式时，我认为这对于未来6至12个月的前景是有意义的。”</blockquote></p><p> Other strategists agreed that investors should brace for more choppiness heading into the end of the year.</p><p><blockquote>其他策略师一致认为，投资者应该为年底前的更多波动做好准备。</blockquote></p><p> \"I think you naturally are getting a little bit of this bounce after we've had a couple choppy sessions. But also the market is trying to price and digest the new information we're getting here,\" Anna Han, Wells Fargo securities equity strategist,told Yahoo Finance Live on Tuesday.\"We had some news on Build Back Better getting delayed, we have more information on Omicron. These are the things you're seeing combine with low liquidity as we get into year-end, so we're not surprised to see the volatility.\"</p><p><blockquote>富国证券股票策略师Anna Han周二对雅虎财经直播表示：“我认为，在经历了几个波动的交易日之后，你自然会得到一点反弹。但市场也在试图定价和消化我们在这里得到的新信息。”“我们有一些关于重建更好的消息被推迟了，我们有更多关于奥密克戎的信息。当我们进入年底时，你会看到这些情况与低流动性相结合，因此我们对波动性并不感到惊讶。”</blockquote></p><p> During a question and answer session during his remarks Tuesday, Biden said he and Senator Joe Manchin (D., W. Va.) were \"going to get something done\" on the White House's about $1.8 trillion Build Back Better social policy bill. Manchin had told Fox News earlier this week he could not back the legislation in part given persistent inflation concerns, suggesting the bill would be scuttled in absence of support from the moderate Democratic lawmaker.</p><p><blockquote>在周二讲话的问答环节中，拜登表示，他和西弗吉尼亚州民主党参议员乔·曼钦（Joe Manchin）将在白宫约1.8万亿美元的重建更好社会政策法案上“有所作为”。曼钦本周早些时候告诉福克斯新闻，他无法支持这项立法，部分原因是持续存在的通胀担忧，这表明如果没有温和派民主党议员的支持，该法案将被否决。</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 trade mixed after rally, with tech under pressure<blockquote>股市反弹后涨跌互现，科技股承压</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 trade mixed after rally, with tech under pressure<blockquote>股市反弹后涨跌互现，科技股承压</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\">2021-12-22 22:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Stocks traded mixed on Wednesday to steady after Tuesday's session, when the major equity indexes rallied after three consecutive sessions of declines. The S&amp;P 500, Dow and Nasdaq opened in slightly negative territory.</p><p><blockquote>周三股市涨跌互现，周二盘中企稳，主要股指在连续三个交易日下跌后反弹。标普500、道琼斯指数和纳斯达克指数开盘小幅下跌。</blockquote></p><p> With trading volume relatively light during the holiday-shortened week, investors have continued to assess a multitude of developments on the Omicron variant and its potential impact on economic activity. These updates have come alongside expectations for tighter monetary policy next year from the Federal Reserve.</p><p><blockquote>由于假期缩短的一周交易量相对清淡，投资者继续评估奥密克戎变体的众多发展及其对经济活动的潜在影响。这些更新伴随着美联储明年收紧货币政策的预期。</blockquote></p><p> Omicron has overtaken other coronavirus variants to become the dominant strain in the U.S., and now&nbsp;accounts for about three-quarters of new infections.Against this backdrop,President Joe Biden on Tuesday announced a series of new measures to address the virus, including opening additional federal COVID-19 testing and vaccination sites and sending500 million at-home rapid tests&nbsp;to Americans for free beginning next month.</p><p><blockquote>奥密克戎病毒已经超过其他冠状病毒变种，成为美国的主要毒株，目前约占新感染病例的四分之三。在此背景下，乔·拜登总统周二宣布了一系列应对该病毒的新措施，包括开放更多的联邦COVID-19检测和疫苗接种点，以及从下个月开始向美国人免费提供5亿次家庭快速检测。</blockquote></p><p> \"I think this is a perfect time to remind everybody that the market is a leading indicator. So the market is going to go down, the market is going to bottom before the bad news peaks,\" Liz Young, SoFi head of investment strategy, told Yahoo Finance Live on Tuesday. \"We likely haven't heard all of the bad news yet. We certainly haven't hit a peak in the Omicron cases.\"</p><p><blockquote>SoFi投资策略主管Liz Young周二告诉雅虎财经直播：“我认为这是提醒大家市场是领先指标的绝佳时机。因此，市场将会下跌，市场将在坏消息见顶之前触底。”“我们可能还没有听到所有的坏消息。我们的奥密克戎病例肯定还没有达到顶峰。”</blockquote></p><p> \"But what we're seeing in the action [Tuesday] is that, we've had three days of a sell-off. And some of that I think was overdone, especially in a lot of these areas that are positioned to do well in a reopening environment,\" she added. \"You have to have some money in the market in areas that should do well in that particular way. Airlines are one of those, cyclicals are more of those. When we look at the pattern in the market today, I think this makes sense for what's ahead for the next 6 to 12 months.\"</p><p><blockquote>“但我们在（周二）的行动中看到的是，我们已经经历了三天的抛售。我认为其中一些太过分了，特别是在许多有望表现良好的领域。在重新开放的环境中，”她补充道。“你必须在市场上拥有一些资金，投资于应该以这种特定方式表现良好的领域。航空公司就是其中之一，周期性股票更多。当我们审视当今市场的模式时，我认为这对于未来6至12个月的前景是有意义的。”</blockquote></p><p> Other strategists agreed that investors should brace for more choppiness heading into the end of the year.</p><p><blockquote>其他策略师一致认为，投资者应该为年底前的更多波动做好准备。</blockquote></p><p> \"I think you naturally are getting a little bit of this bounce after we've had a couple choppy sessions. But also the market is trying to price and digest the new information we're getting here,\" Anna Han, Wells Fargo securities equity strategist,told Yahoo Finance Live on Tuesday.\"We had some news on Build Back Better getting delayed, we have more information on Omicron. These are the things you're seeing combine with low liquidity as we get into year-end, so we're not surprised to see the volatility.\"</p><p><blockquote>富国证券股票策略师Anna Han周二对雅虎财经直播表示：“我认为，在经历了几个波动的交易日之后，你自然会得到一点反弹。但市场也在试图定价和消化我们在这里得到的新信息。”“我们有一些关于重建更好的消息被推迟了，我们有更多关于奥密克戎的信息。当我们进入年底时，你会看到这些情况与低流动性相结合，因此我们对波动性并不感到惊讶。”</blockquote></p><p> During a question and answer session during his remarks Tuesday, Biden said he and Senator Joe Manchin (D., W. Va.) were \"going to get something done\" on the White House's about $1.8 trillion Build Back Better social policy bill. Manchin had told Fox News earlier this week he could not back the legislation in part given persistent inflation concerns, suggesting the bill would be scuttled in absence of support from the moderate Democratic lawmaker.</p><p><blockquote>在周二讲话的问答环节中，拜登表示，他和西弗吉尼亚州民主党参议员乔·曼钦（Joe Manchin）将在白宫约1.8万亿美元的重建更好社会政策法案上“有所作为”。曼钦本周早些时候告诉福克斯新闻，他无法支持这项立法，部分原因是持续存在的通胀担忧，这表明如果没有温和派民主党议员的支持，该法案将被否决。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1157274137","content_text":"Stocks traded mixed on Wednesday to steady after Tuesday's session, when the major equity indexes rallied after three consecutive sessions of declines. The S&P 500, Dow and Nasdaq opened in slightly negative territory.\nWith trading volume relatively light during the holiday-shortened week, investors have continued to assess a multitude of developments on the Omicron variant and its potential impact on economic activity. These updates have come alongside expectations for tighter monetary policy next year from the Federal Reserve.\nOmicron has overtaken other coronavirus variants to become the dominant strain in the U.S., and now accounts for about three-quarters of new infections.Against this backdrop,President Joe Biden on Tuesday announced a series of new measures to address the virus, including opening additional federal COVID-19 testing and vaccination sites and sending500 million at-home rapid tests to Americans for free beginning next month.\n\"I think this is a perfect time to remind everybody that the market is a leading indicator. So the market is going to go down, the market is going to bottom before the bad news peaks,\" Liz Young, SoFi head of investment strategy, told Yahoo Finance Live on Tuesday. \"We likely haven't heard all of the bad news yet. We certainly haven't hit a peak in the Omicron cases.\"\n\"But what we're seeing in the action [Tuesday] is that, we've had three days of a sell-off. And some of that I think was overdone, especially in a lot of these areas that are positioned to do well in a reopening environment,\" she added. \"You have to have some money in the market in areas that should do well in that particular way. Airlines are one of those, cyclicals are more of those. When we look at the pattern in the market today, I think this makes sense for what's ahead for the next 6 to 12 months.\"\nOther strategists agreed that investors should brace for more choppiness heading into the end of the year.\n\"I think you naturally are getting a little bit of this bounce after we've had a couple choppy sessions. But also the market is trying to price and digest the new information we're getting here,\" Anna Han, Wells Fargo securities equity strategist,told Yahoo Finance Live on Tuesday.\"We had some news on Build Back Better getting delayed, we have more information on Omicron. These are the things you're seeing combine with low liquidity as we get into year-end, so we're not surprised to see the volatility.\"\nDuring a question and answer session during his remarks Tuesday, Biden said he and Senator Joe Manchin (D., W. Va.) were \"going to get something done\" on the White House's about $1.8 trillion Build Back Better social policy bill. Manchin had told Fox News earlier this week he could not back the legislation in part given persistent inflation concerns, suggesting the bill would be scuttled in absence of support from the moderate Democratic lawmaker.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":3410,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691295544,"gmtCreate":1640191227482,"gmtModify":1640191227575,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691295544","repostId":"1169752126","repostType":4,"repost":{"id":"1169752126","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":1640186708,"share":"https://www.laohu8.com/m/news/1169752126?lang=zh_CN&edition=full","pubTime":"2021-12-22 23:25","market":"us","language":"en","title":"Why Paychex Shares Are Making New All-Time Highs Today<blockquote>为什么Paychex股价今天创下历史新高</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169752126","media":"Benzinga","summary":"Paychex Inc is trading higher Wednesday after the company announced better-than-expected fiscal seco","content":"<p><b>Paychex Inc</b>&nbsp;is trading higher Wednesday after the company announced better-than-expected fiscal second-quarter 2022 financial results.</p><p><blockquote><b>Paychex公司</b>在该公司公布好于预期的2022财年第二季度财务业绩后，周三股价走高。</blockquote></p><p> Paychex reported quarterly adjusted&nbsp;earnings of 91 cents per share, which beat the estimate of 80 cents per share. The company reported quarterly revenue of $1.11 billion, which beat the estimate of $1.06 billion.</p><p><blockquote>Paychex公布的季度调整后每股收益为91美分，超出了每股80美分的预期。该公司公布季度营收为11.1亿美元，超出预期的10.6亿美元。</blockquote></p><p> Paychex said it expects fiscal-year 2022 revenue growth of 10% to 11%.</p><p><blockquote>Paychex表示，预计2022财年收入增长10%至11%。</blockquote></p><p> \"We posted strong financial results for the second quarter of fiscal 2022, with growth of 13% in total revenue and 21% in diluted earnings per share. Results were driven by growth in employees within our client base and continued strong sales growth and client retention,\" said&nbsp;<b>Martin Mucci</b>, chairman and CEO of Paychex.</p><p><blockquote>“我们公布了2022财年第二季度强劲的财务业绩，总收入增长13%，稀释后每股收益增长21%。业绩是由我们客户群中员工的增长以及持续强劲的销售增长和客户保留率推动的，”说<b>马丁·穆奇</b>，Paychex董事长兼首席执行官。</blockquote></p><p> Paychex is a leading provider of payroll, human capital management&nbsp;and insurance solutions servicing small and midsize clients primarily in the United States.</p><p><blockquote>Paychex是一家领先的薪资、人力资本管理和保险解决方案提供商，主要为美国的中小型客户提供服务。</blockquote></p><p> <b>PAYX Price Action:</b>Paychex has traded as low as $85.30 over a 52-week period. It's making new 52-week highs during Wednesday's trading session.</p><p><blockquote><b>PAYX价格走势：</b>Paychex在52周内的交易价格低至85.30美元。周三交易时段创下52周新高。</blockquote></p><p> The stock was up 5.54% at $133.44.</p><p><blockquote>该股上涨5.54%，至133.44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>Why Paychex Shares Are Making New All-Time Highs Today<blockquote>为什么Paychex股价今天创下历史新高</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Paychex Shares Are Making New All-Time Highs Today<blockquote>为什么Paychex股价今天创下历史新高</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\">2021-12-22 23:25</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Paychex Inc</b>&nbsp;is trading higher Wednesday after the company announced better-than-expected fiscal second-quarter 2022 financial results.</p><p><blockquote><b>Paychex公司</b>在该公司公布好于预期的2022财年第二季度财务业绩后，周三股价走高。</blockquote></p><p> Paychex reported quarterly adjusted&nbsp;earnings of 91 cents per share, which beat the estimate of 80 cents per share. The company reported quarterly revenue of $1.11 billion, which beat the estimate of $1.06 billion.</p><p><blockquote>Paychex公布的季度调整后每股收益为91美分，超出了每股80美分的预期。该公司公布季度营收为11.1亿美元，超出预期的10.6亿美元。</blockquote></p><p> Paychex said it expects fiscal-year 2022 revenue growth of 10% to 11%.</p><p><blockquote>Paychex表示，预计2022财年收入增长10%至11%。</blockquote></p><p> \"We posted strong financial results for the second quarter of fiscal 2022, with growth of 13% in total revenue and 21% in diluted earnings per share. Results were driven by growth in employees within our client base and continued strong sales growth and client retention,\" said&nbsp;<b>Martin Mucci</b>, chairman and CEO of Paychex.</p><p><blockquote>“我们公布了2022财年第二季度强劲的财务业绩，总收入增长13%，稀释后每股收益增长21%。业绩是由我们客户群中员工的增长以及持续强劲的销售增长和客户保留率推动的，”说<b>马丁·穆奇</b>，Paychex董事长兼首席执行官。</blockquote></p><p> Paychex is a leading provider of payroll, human capital management&nbsp;and insurance solutions servicing small and midsize clients primarily in the United States.</p><p><blockquote>Paychex是一家领先的薪资、人力资本管理和保险解决方案提供商，主要为美国的中小型客户提供服务。</blockquote></p><p> <b>PAYX Price Action:</b>Paychex has traded as low as $85.30 over a 52-week period. It's making new 52-week highs during Wednesday's trading session.</p><p><blockquote><b>PAYX价格走势：</b>Paychex在52周内的交易价格低至85.30美元。周三交易时段创下52周新高。</blockquote></p><p> The stock was up 5.54% at $133.44.</p><p><blockquote>该股上涨5.54%，至133.44美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PAYX":"沛齐"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169752126","content_text":"Paychex Inc is trading higher Wednesday after the company announced better-than-expected fiscal second-quarter 2022 financial results.\nPaychex reported quarterly adjusted earnings of 91 cents per share, which beat the estimate of 80 cents per share. The company reported quarterly revenue of $1.11 billion, which beat the estimate of $1.06 billion.\nPaychex said it expects fiscal-year 2022 revenue growth of 10% to 11%.\n\"We posted strong financial results for the second quarter of fiscal 2022, with growth of 13% in total revenue and 21% in diluted earnings per share. Results were driven by growth in employees within our client base and continued strong sales growth and client retention,\" said Martin Mucci, chairman and CEO of Paychex.\nPaychex is a leading provider of payroll, human capital management and insurance solutions servicing small and midsize clients primarily in the United States.\nPAYX Price Action:Paychex has traded as low as $85.30 over a 52-week period. It's making new 52-week highs during Wednesday's trading session.\nThe stock was up 5.54% at $133.44.","news_type":1,"symbols_score_info":{"PAYX":0.9}},"isVote":1,"tweetType":1,"viewCount":2827,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691074034,"gmtCreate":1640104410444,"gmtModify":1640104410536,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691074034","repostId":"2193154031","repostType":4,"isVote":1,"tweetType":1,"viewCount":3979,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693532749,"gmtCreate":1640048489404,"gmtModify":1640048489554,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693532749","repostId":"1100652914","repostType":4,"isVote":1,"tweetType":1,"viewCount":2684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693532007,"gmtCreate":1640048437744,"gmtModify":1640048437859,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693532007","repostId":"2193761136","repostType":4,"isVote":1,"tweetType":1,"viewCount":2249,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693536148,"gmtCreate":1640048395206,"gmtModify":1640048395287,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Go micron","listText":"Go micron","text":"Go micron","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693536148","repostId":"1102941409","repostType":4,"isVote":1,"tweetType":1,"viewCount":2717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693919929,"gmtCreate":1639959746369,"gmtModify":1639959746446,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Gogogo","listText":"Gogogo","text":"Gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693919929","repostId":"1130704419","repostType":4,"repost":{"id":"1130704419","kind":"news","pubTimestamp":1639953553,"share":"https://www.laohu8.com/m/news/1130704419?lang=zh_CN&edition=full","pubTime":"2021-12-20 06:39","market":"us","language":"en","title":"Nike, Micron, BlackBerry, CarMax, and Other Stocks for Investors to Watch This Week<blockquote>Nike、Micron、黑莓、CarMax等本周值得投资者关注的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130704419","media":"Barrons","summary":"Stock and bond markets around the world will be closed Friday in observance of Christmas. Before the holiday break,Nike and Micron Technology report on Monday,BlackBerry and General Mills on Tuesday, and CarMax,Cintas,and Paychex on Wednesday.It will be a busy week of economic data releases. On Monday, the Conference Board publishes its Leading Economic Index for November, followed by its Consumer Confidence Index for December on Wednesday.On Thursday, the Bureau of Economic Analysis reports per","content":"<p>Stock and bond markets around the world will be closed Friday in observance of Christmas. Before the holiday&nbsp;break,Nike&nbsp;and&nbsp;Micron Technology&nbsp;report on Monday,BlackBerry&nbsp;and&nbsp;General Mills&nbsp;on Tuesday, and&nbsp;CarMax,Cintas,and&nbsp;Paychex&nbsp;on Wednesday.</p><p><blockquote>世界各地的股票和债券市场将于周五休市以庆祝圣诞节。假期前，Nike和Micron Technology将于周一发布报告，黑莓和通用磨坊将于周二发布报告，CarMax、Cintas和Paychex将于周三发布报告。</blockquote></p><p> It will be a busy week of economic data releases. On Monday, the&nbsp;Conference Board publishes its Leading Economic Index for November, followed&nbsp;by its Consumer Confidence Index for December on Wednesday.</p><p><blockquote>这将是经济数据发布繁忙的一周。周一，世界大型企业联合会将公布11月份领先经济指数，随后将于周三公布12月份消费者信心指数。</blockquote></p><p> On Thursday, the&nbsp;Bureau of Economic Analysis reports personal income and consumption expenditures for November. Consumer earnings are forecast to have risen 0.6% while spending is seen climbing 0.5%. The Federal Reserve’s preferred measure of inflation, the core&nbsp;PCE price index, is expected to have spiked 4.5% in November.</p><p><blockquote>周四，经济分析局将公布11月份个人收入和消费支出。消费者收入预计将增长0.6%，而支出预计将增长0.5%。美联储首选的通胀指标核心PCE物价指数预计11月份将飙升4.5%。</blockquote></p><p> Also Thursday, the Census Bureau releases the durable goods report for November, which will provide a window into investment spending in the economy. New orders are forecast to have risen 2.1%. Housing-market indicators out this week include existing-home sales for November on Wednesday and new-home sales for November on Thursday.</p><p><blockquote>同样在周四，人口普查局发布了11月份耐用品报告，这将为了解经济中的投资支出提供一个窗口。新订单预计将增长2.1%。本周公布的房地产市场指标包括周三公布的11月份成屋销售和周四公布的11月份新房销售。</blockquote></p><p> <b>Monday 12/20</b></p><p><blockquote><b>星期一12/20</b></blockquote></p><p> Micron Technology and Nike report quarterly results.</p><p><blockquote>美光科技和耐克公布季度业绩。</blockquote></p><p> <b>The Conference Board</b> releases its Leading Economic Index for November. Consensus estimate is for a 119 reading, which would be 0.6% more than October’s level. The Conference Board currently projects a 5% growth rate for fourth-quarter gross domestic product and a slower but still robust 2.6% for 2022.</p><p><blockquote><b>世界大型企业联合会</b>发布11月份领先经济指数。普遍估计读数为119，比10月份的水平高出0.6%。世界大型企业联合会目前预计第四季度国内生产总值增长率为5%，2022年增长率较慢但仍强劲的2.6%。</blockquote></p><p> <b>Tuesday 12/21</b></p><p><blockquote><b>星期二12/21</b></blockquote></p><p> BlackBerry,FactSet Research Systems,and General Mills announce earnings.</p><p><blockquote>黑莓、FactSet Research Systems和通用磨坊公布财报。</blockquote></p><p> <b>Wednesday 12/22</b></p><p><blockquote><b>星期三12/22</b></blockquote></p><p> <b>The NAR reports</b> existing-home sales for November. Economists forecast a seasonally adjusted annual rate of 6.4 million homes sold, slightly more than in October and the highest since the beginning of the year.</p><p><blockquote><b>NAR报告</b>11月份现房销售。经济学家预测，经季节调整后的房屋销售量年率为640万套，略高于10月份，为年初以来的最高水平。</blockquote></p><p> CarMax, Cintas, and Paychex hold conference calls to discuss quarterly results.</p><p><blockquote>CarMax、Cintas和Paychex评级召开会议讨论季度业绩。</blockquote></p><p> <b>The Bureau of Economic</b> Analysis reports its third and final estimate for third-quarter GDP. Economists forecast a 2.1% seasonally adjusted annual growth rate, unchanged from November’s second estimate.</p><p><blockquote><b>经济局</b>分析报告了对第三季度GDP的第三次也是最终估计。经济学家预测，经季节调整后的年增长率为2.1%，与11月的第二次估计持平。</blockquote></p><p> <b>The Conference Board</b> releases its Consumer Confidence Index for December. Expectations are for a 110 reading, roughly even with the November data. The index is 15% lower than the postpandemic peak reached in June of this year, due to concerns about rising prices and, to a lesser degree, Covid-19 variants.</p><p><blockquote><b>世界大型企业联合会</b>发布12月份消费者信心指数。预期读数为110，与11月数据大致持平。该指数比今年6月达到的大流行后峰值低15%，原因是对价格上涨以及较小程度上对Covid-19变种的担忧。</blockquote></p><p> <b>Thursday 12/23</b></p><p><blockquote><b>星期四12/23</b></blockquote></p><p> <b>The Department of Labor</b> reports initial jobless claims for the week ending on Dec. 18. Jobless claims have averaged 225,667 a week in November and December, and have finally reached prepandemic levels.</p><p><blockquote><b>劳工部</b>报告截至12月18日当周首次申请失业救济人数。11月和12月平均每周申请失业救济人数为225,667人，最终达到了大流行前的水平。</blockquote></p><p> <b>The Census Bureau</b> reports new-home sales for November. Consensus estimate is for a seasonally adjusted annual rate of 770,000 new single-family houses sold, 25,000 more than in October. The median sales price of new houses sold in October was $407,700, while the average sales price was $477,800—both record highs.</p><p><blockquote><b>人口普查局</b>报告11月份新房销售。市场普遍估计，经季节调整后的新单户住宅年增长率为77万套，比10月份增加2.5万套。10月份售出的新房销售价格中位数为40.77万美元，而平均销售价格为47.78万美元——均创历史新高。</blockquote></p><p> <b>The BEA reports</b> personal income and consumption expenditures for November. Economists forecast a 0.6% monthly increase for income and 0.5% for consumption. This compares with gains for 0.5% and 1.3%, respectively, in October. The Federal Reserve’s preferred inflation gauge, the core PCE price index, jumped 4.1% year over year in October, the fastest rate since 1991. Predictions are for it to spike 4.6% in November.</p><p><blockquote><b>东亚银行报告</b>11月份个人收入和消费支出。经济学家预测收入每月增长0.6%，消费每月增长0.5%。相比之下，10月份的涨幅分别为0.5%和1.3%。美联储首选的通胀指标核心PCE价格指数10月份同比上涨4.1%，为1991年以来最快增速。预计11月份将飙升4.6%。</blockquote></p><p> <b>The Census Bureau</b> releases the durable goods report for November. New orders for durable manufactured goods are expected to increase 2.1%, to $265.6 billion. Excluding transportation, new orders are seen gaining 0.6%, compared with a 0.5% rise in October.</p><p><blockquote><b>人口普查局</b>发布11月份耐用品报告。耐用品新订单预计将增长2.1%，达到2656亿美元。不包括运输，新订单预计将增长0.6%，而10月份为增长0.5%。</blockquote></p><p> <b>Friday 12/24</b></p><p><blockquote><b>星期五12/24</b></blockquote></p><p> <b>U.S. equity</b>&nbsp;and fixed-income markets are closed in observance of Christmas.</p><p><blockquote><b>美国股票</b>固定收益市场因圣诞节而休市。</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>Nike, Micron, BlackBerry, CarMax, and Other Stocks for Investors to Watch This Week<blockquote>Nike、Micron、黑莓、CarMax等本周值得投资者关注的股票</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\">\nNike, Micron, BlackBerry, CarMax, and Other Stocks for Investors to Watch This Week<blockquote>Nike、Micron、黑莓、CarMax等本周值得投资者关注的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-12-20 06:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Stock and bond markets around the world will be closed Friday in observance of Christmas. Before the holiday&nbsp;break,Nike&nbsp;and&nbsp;Micron Technology&nbsp;report on Monday,BlackBerry&nbsp;and&nbsp;General Mills&nbsp;on Tuesday, and&nbsp;CarMax,Cintas,and&nbsp;Paychex&nbsp;on Wednesday.</p><p><blockquote>世界各地的股票和债券市场将于周五休市以庆祝圣诞节。假期前，Nike和Micron Technology将于周一发布报告，黑莓和通用磨坊将于周二发布报告，CarMax、Cintas和Paychex将于周三发布报告。</blockquote></p><p> It will be a busy week of economic data releases. On Monday, the&nbsp;Conference Board publishes its Leading Economic Index for November, followed&nbsp;by its Consumer Confidence Index for December on Wednesday.</p><p><blockquote>这将是经济数据发布繁忙的一周。周一，世界大型企业联合会将公布11月份领先经济指数，随后将于周三公布12月份消费者信心指数。</blockquote></p><p> On Thursday, the&nbsp;Bureau of Economic Analysis reports personal income and consumption expenditures for November. Consumer earnings are forecast to have risen 0.6% while spending is seen climbing 0.5%. The Federal Reserve’s preferred measure of inflation, the core&nbsp;PCE price index, is expected to have spiked 4.5% in November.</p><p><blockquote>周四，经济分析局将公布11月份个人收入和消费支出。消费者收入预计将增长0.6%，而支出预计将增长0.5%。美联储首选的通胀指标核心PCE物价指数预计11月份将飙升4.5%。</blockquote></p><p> Also Thursday, the Census Bureau releases the durable goods report for November, which will provide a window into investment spending in the economy. New orders are forecast to have risen 2.1%. Housing-market indicators out this week include existing-home sales for November on Wednesday and new-home sales for November on Thursday.</p><p><blockquote>同样在周四，人口普查局发布了11月份耐用品报告，这将为了解经济中的投资支出提供一个窗口。新订单预计将增长2.1%。本周公布的房地产市场指标包括周三公布的11月份成屋销售和周四公布的11月份新房销售。</blockquote></p><p> <b>Monday 12/20</b></p><p><blockquote><b>星期一12/20</b></blockquote></p><p> Micron Technology and Nike report quarterly results.</p><p><blockquote>美光科技和耐克公布季度业绩。</blockquote></p><p> <b>The Conference Board</b> releases its Leading Economic Index for November. Consensus estimate is for a 119 reading, which would be 0.6% more than October’s level. The Conference Board currently projects a 5% growth rate for fourth-quarter gross domestic product and a slower but still robust 2.6% for 2022.</p><p><blockquote><b>世界大型企业联合会</b>发布11月份领先经济指数。普遍估计读数为119，比10月份的水平高出0.6%。世界大型企业联合会目前预计第四季度国内生产总值增长率为5%，2022年增长率较慢但仍强劲的2.6%。</blockquote></p><p> <b>Tuesday 12/21</b></p><p><blockquote><b>星期二12/21</b></blockquote></p><p> BlackBerry,FactSet Research Systems,and General Mills announce earnings.</p><p><blockquote>黑莓、FactSet Research Systems和通用磨坊公布财报。</blockquote></p><p> <b>Wednesday 12/22</b></p><p><blockquote><b>星期三12/22</b></blockquote></p><p> <b>The NAR reports</b> existing-home sales for November. Economists forecast a seasonally adjusted annual rate of 6.4 million homes sold, slightly more than in October and the highest since the beginning of the year.</p><p><blockquote><b>NAR报告</b>11月份现房销售。经济学家预测，经季节调整后的房屋销售量年率为640万套，略高于10月份，为年初以来的最高水平。</blockquote></p><p> CarMax, Cintas, and Paychex hold conference calls to discuss quarterly results.</p><p><blockquote>CarMax、Cintas和Paychex评级召开会议讨论季度业绩。</blockquote></p><p> <b>The Bureau of Economic</b> Analysis reports its third and final estimate for third-quarter GDP. Economists forecast a 2.1% seasonally adjusted annual growth rate, unchanged from November’s second estimate.</p><p><blockquote><b>经济局</b>分析报告了对第三季度GDP的第三次也是最终估计。经济学家预测，经季节调整后的年增长率为2.1%，与11月的第二次估计持平。</blockquote></p><p> <b>The Conference Board</b> releases its Consumer Confidence Index for December. Expectations are for a 110 reading, roughly even with the November data. The index is 15% lower than the postpandemic peak reached in June of this year, due to concerns about rising prices and, to a lesser degree, Covid-19 variants.</p><p><blockquote><b>世界大型企业联合会</b>发布12月份消费者信心指数。预期读数为110，与11月数据大致持平。该指数比今年6月达到的大流行后峰值低15%，原因是对价格上涨以及较小程度上对Covid-19变种的担忧。</blockquote></p><p> <b>Thursday 12/23</b></p><p><blockquote><b>星期四12/23</b></blockquote></p><p> <b>The Department of Labor</b> reports initial jobless claims for the week ending on Dec. 18. Jobless claims have averaged 225,667 a week in November and December, and have finally reached prepandemic levels.</p><p><blockquote><b>劳工部</b>报告截至12月18日当周首次申请失业救济人数。11月和12月平均每周申请失业救济人数为225,667人，最终达到了大流行前的水平。</blockquote></p><p> <b>The Census Bureau</b> reports new-home sales for November. Consensus estimate is for a seasonally adjusted annual rate of 770,000 new single-family houses sold, 25,000 more than in October. The median sales price of new houses sold in October was $407,700, while the average sales price was $477,800—both record highs.</p><p><blockquote><b>人口普查局</b>报告11月份新房销售。市场普遍估计，经季节调整后的新单户住宅年增长率为77万套，比10月份增加2.5万套。10月份售出的新房销售价格中位数为40.77万美元，而平均销售价格为47.78万美元——均创历史新高。</blockquote></p><p> <b>The BEA reports</b> personal income and consumption expenditures for November. Economists forecast a 0.6% monthly increase for income and 0.5% for consumption. This compares with gains for 0.5% and 1.3%, respectively, in October. The Federal Reserve’s preferred inflation gauge, the core PCE price index, jumped 4.1% year over year in October, the fastest rate since 1991. Predictions are for it to spike 4.6% in November.</p><p><blockquote><b>东亚银行报告</b>11月份个人收入和消费支出。经济学家预测收入每月增长0.6%，消费每月增长0.5%。相比之下，10月份的涨幅分别为0.5%和1.3%。美联储首选的通胀指标核心PCE价格指数10月份同比上涨4.1%，为1991年以来最快增速。预计11月份将飙升4.6%。</blockquote></p><p> <b>The Census Bureau</b> releases the durable goods report for November. New orders for durable manufactured goods are expected to increase 2.1%, to $265.6 billion. Excluding transportation, new orders are seen gaining 0.6%, compared with a 0.5% rise in October.</p><p><blockquote><b>人口普查局</b>发布11月份耐用品报告。耐用品新订单预计将增长2.1%，达到2656亿美元。不包括运输，新订单预计将增长0.6%，而10月份为增长0.5%。</blockquote></p><p> <b>Friday 12/24</b></p><p><blockquote><b>星期五12/24</b></blockquote></p><p> <b>U.S. equity</b>&nbsp;and fixed-income markets are closed in observance of Christmas.</p><p><blockquote><b>美国股票</b>固定收益市场因圣诞节而休市。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/nike-micron-blackberry-carmax-and-other-stocks-for-investors-to-watch-this-week-51639944183?mod=hp_LEAD_5\">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":{".SPX":"S&P 500 Index",".DJI":"道琼斯","PAYX":"沛齐","GIS":"通用磨坊","CTAS":"信达思","KMX":"车美仕",".IXIC":"NASDAQ Composite","MU":"美光科技"},"source_url":"https://www.barrons.com/articles/nike-micron-blackberry-carmax-and-other-stocks-for-investors-to-watch-this-week-51639944183?mod=hp_LEAD_5","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130704419","content_text":"Stock and bond markets around the world will be closed Friday in observance of Christmas. Before the holiday break,Nike and Micron Technology report on Monday,BlackBerry and General Mills on Tuesday, and CarMax,Cintas,and Paychex on Wednesday.\nIt will be a busy week of economic data releases. On Monday, the Conference Board publishes its Leading Economic Index for November, followed by its Consumer Confidence Index for December on Wednesday.\nOn Thursday, the Bureau of Economic Analysis reports personal income and consumption expenditures for November. Consumer earnings are forecast to have risen 0.6% while spending is seen climbing 0.5%. The Federal Reserve’s preferred measure of inflation, the core PCE price index, is expected to have spiked 4.5% in November.\nAlso Thursday, the Census Bureau releases the durable goods report for November, which will provide a window into investment spending in the economy. New orders are forecast to have risen 2.1%. Housing-market indicators out this week include existing-home sales for November on Wednesday and new-home sales for November on Thursday.\nMonday 12/20\nMicron Technology and Nike report quarterly results.\nThe Conference Board releases its Leading Economic Index for November. Consensus estimate is for a 119 reading, which would be 0.6% more than October’s level. The Conference Board currently projects a 5% growth rate for fourth-quarter gross domestic product and a slower but still robust 2.6% for 2022.\nTuesday 12/21\nBlackBerry,FactSet Research Systems,and General Mills announce earnings.\nWednesday 12/22\nThe NAR reports existing-home sales for November. Economists forecast a seasonally adjusted annual rate of 6.4 million homes sold, slightly more than in October and the highest since the beginning of the year.\nCarMax, Cintas, and Paychex hold conference calls to discuss quarterly results.\nThe Bureau of Economic Analysis reports its third and final estimate for third-quarter GDP. Economists forecast a 2.1% seasonally adjusted annual growth rate, unchanged from November’s second estimate.\nThe Conference Board releases its Consumer Confidence Index for December. Expectations are for a 110 reading, roughly even with the November data. The index is 15% lower than the postpandemic peak reached in June of this year, due to concerns about rising prices and, to a lesser degree, Covid-19 variants.\nThursday 12/23\nThe Department of Labor reports initial jobless claims for the week ending on Dec. 18. Jobless claims have averaged 225,667 a week in November and December, and have finally reached prepandemic levels.\nThe Census Bureau reports new-home sales for November. Consensus estimate is for a seasonally adjusted annual rate of 770,000 new single-family houses sold, 25,000 more than in October. The median sales price of new houses sold in October was $407,700, while the average sales price was $477,800—both record highs.\nThe BEA reports personal income and consumption expenditures for November. Economists forecast a 0.6% monthly increase for income and 0.5% for consumption. This compares with gains for 0.5% and 1.3%, respectively, in October. The Federal Reserve’s preferred inflation gauge, the core PCE price index, jumped 4.1% year over year in October, the fastest rate since 1991. Predictions are for it to spike 4.6% in November.\nThe Census Bureau releases the durable goods report for November. New orders for durable manufactured goods are expected to increase 2.1%, to $265.6 billion. Excluding transportation, new orders are seen gaining 0.6%, compared with a 0.5% rise in October.\nFriday 12/24\nU.S. equity and fixed-income markets are closed in observance of Christmas.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"PAYX":0.9,"MU":0.9,"GIS":0.9,"CTAS":0.9,".IXIC":0.9,"KMX":0.9}},"isVote":1,"tweetType":1,"viewCount":2677,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":895980856,"gmtCreate":1628705782275,"gmtModify":1631890659685,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Hype or trap, we shll see","listText":"Hype or trap, we shll see","text":"Hype or trap, we shll 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href=\"https://laohu8.com/S/T39.SI\">$SINGAPORE PRESS HLDGS LTD(T39.SI)$</a>up","listText":"<a href=\"https://laohu8.com/S/T39.SI\">$SINGAPORE PRESS HLDGS LTD(T39.SI)$</a>up","text":"$SINGAPORE PRESS HLDGS LTD(T39.SI)$up","images":[{"img":"https://static.tigerbbs.com/13894261d0501d5c21dbc2778637f6fd","width":"1200","height":"2133"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145270230","isVote":1,"tweetType":1,"viewCount":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":165625489,"gmtCreate":1624135752541,"gmtModify":1631890659708,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>[傲娇]&nbsp;","listText":"<a href=\"https://laohu8.com/S/AMD\">$AMD(AMD)$</a>[傲娇]&nbsp;","text":"$AMD(AMD)$[傲娇]","images":[{"img":"https://static.tigerbbs.com/1d85e648bccbaf3155edfea61eb73fc5","width":"1200","height":"2133"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/165625489","isVote":1,"tweetType":1,"viewCount":860,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":160827335,"gmtCreate":1623782610527,"gmtModify":1631890659721,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Lets squeeze","listText":"Lets squeeze","text":"Lets squeeze","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/160827335","repostId":"1191245053","repostType":4,"repost":{"id":"1191245053","kind":"news","pubTimestamp":1623762167,"share":"https://www.laohu8.com/m/news/1191245053?lang=zh_CN&edition=full","pubTime":"2021-06-15 21:02","market":"us","language":"en","title":"Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets<blockquote>四女巫困境：周五2万亿美元伽马到期将如何影响市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191245053","media":"zerohedge","summary":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers .So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fis","content":"<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p><p><blockquote>上周，在讨论将VIX推至新冠大流行爆发以来的最低水平的市场夏季低迷时，我们表示，这段异常的市场平静期可能会持续到本周五的“四女巫”，届时大量的gamma和delta到期并去风险，在此过程中消除了股票的自然下行缓冲之一（请参阅“市场低迷随着下周五的Op-Ex而结束的4个原因”）。</blockquote></p><p> So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p><p><blockquote>因此，高盛内部衍生品专家洛基·菲什曼(Rocky Fishman)在谈到周五“可能影响市场的运营支出”的话题时，预览了即将到来的6月份到期，他称之为“规模很大——与典型的季度相当”。具体而言，<b>周五有1.8万亿美元的SPX期权到期，此外还有2400亿美元的SPDR标普500指数ETF期权以及2000亿美元的SPX和SPX E-mini期货期权。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p><p><blockquote>然而，尽管这些总数很大，<b>根据指数规模进行调整后，当前现货10%以内的到期期权数量比过去十年中的任何一个季度都要少。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p><p><blockquote>值得注意的是，根据高盛的估计，combos账户<b>对于15-20%的SPX期权，</b>因此，调整后的未平仓合约总额将达到1.5万亿美元，仍远高于即将到期的单一股票未平仓合约总额（7750亿美元）。此外，由于股市处于历史高位，预计6月份大部分未平仓合约均低于当前SPX现货价格。如下图所示，双峰在3900和4150。这意味着周五之后，在伽马被重新填充之前，这些点周围可能会有一定的“反”重力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p><p><blockquote>这位高盛策略师随后解释了他认为低于已实现市场波动率的异常低水平的情况，并指出——正如我们上周讨论的——这与多头伽马头寸一致。考虑一下SPX<b>过去13个交易日的已实现波动率仅为5.1%，为2019年以来最低的13天已实现波动率。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p><p><blockquote>这与单一股票市场部分地区的极端波动形成鲜明对比；AMC上周是个股中合约量最高的（但名义交易量为70亿美元/天，远低于AMZN领先的1200亿美元/天），同期已实现成交量接近400%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p><p><blockquote>然后，正如野村证券的Charlie McElligott上周首次指出的那样，高盛的衍生品团队同意<b>极低的SPX已实现波动性与6月18日离开“华尔街”多头指数gamma的可能性是一致的，在这种情况下，Fishman呼应了我们上周所说的，即“一旦头寸变得更加干净，已实现波动性可能会回升。”</b>与此同时，VIX期货相对于SPX的贝塔值上升表明，投资者预计，如果市场抛售，空头伽马动态将会回升。翻译：<u><b>在抛售中，市场将变得更加波动。</b></u></blockquote></p><p> <img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p><p><blockquote>与此同时，与最新的备忘录股票挤压保持一致，高盛还指出，虽然单一股票期权交易量仍然很高，但远低于第一季度的峰值。最近几周，由散户驱动的所有单一股票期权活动的很大比例以及散户活动的预测价值都提高了对单一股票期权市场的关注。近期单一股票期权活动的增长主要集中在低股价股票上，导致过去两周合约交易量大幅上涨，但名义交易量并未与之匹配。在根据股市规模调整名义成交量时，高盛发现过去两周单只股票成交量实际上一直处于2021年区间的低点，这意味着最新的上涨几乎没有伽马挤压成分。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p><p><blockquote>我们最近讨论的最后一点是高盛的观察，即短期SPX期权（每周）和远离季度的趋势仍在继续，这与散户参与交易的不断增加相一致。这也是周五SPX到期时间小于最近许多季度的原因之一，也是为什么随着到期时间的临近，其交易量一直在下降的原因之一。</blockquote></p><p> As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p><p><blockquote>正如高盛所解释的那样，投资者越来越多地采用SPX到期的完整日历，包括每周一和周三的到期，因为他们围绕事件调整了自己的观点。事实上，<b>第三个周五到期的SPX期权交易量百分比处于历史最低点，</b>现在低于周一和周三到期的百分比。超短期交易量增加的一个解释是强劲的单一股票交易量：高盛提出了一个兴趣——“在某种程度上，做市商无法弥补散户投资者看涨期权买入产生的单一股票空头伽马，他们可能会积极交易超短期SPX指数期权的多头头寸，以抵消这种伽马。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></p><p><blockquote>为什么这很重要？因为如果这种趋势足够大，它会直接导致低隐含和实现的相关性。<b>具有讽刺意味的是，通过增加单一名称“最受做空的名称”，散户投资者正在市场的其他部分迎来一段非正统的平静时期！</b></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>Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets<blockquote>四女巫困境：周五2万亿美元伽马到期将如何影响市场</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; 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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\">\nQuad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets<blockquote>四女巫困境：周五2万亿美元伽马到期将如何影响市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-15 21:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p><p><blockquote>上周，在讨论将VIX推至新冠大流行爆发以来的最低水平的市场夏季低迷时，我们表示，这段异常的市场平静期可能会持续到本周五的“四女巫”，届时大量的gamma和delta到期并去风险，在此过程中消除了股票的自然下行缓冲之一（请参阅“市场低迷随着下周五的Op-Ex而结束的4个原因”）。</blockquote></p><p> So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p><p><blockquote>因此，高盛内部衍生品专家洛基·菲什曼(Rocky Fishman)在谈到周五“可能影响市场的运营支出”的话题时，预览了即将到来的6月份到期，他称之为“规模很大——与典型的季度相当”。具体而言，<b>周五有1.8万亿美元的SPX期权到期，此外还有2400亿美元的SPDR标普500指数ETF期权以及2000亿美元的SPX和SPX E-mini期货期权。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p><p><blockquote>然而，尽管这些总数很大，<b>根据指数规模进行调整后，当前现货10%以内的到期期权数量比过去十年中的任何一个季度都要少。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p><p><blockquote>值得注意的是，根据高盛的估计，combos账户<b>对于15-20%的SPX期权，</b>因此，调整后的未平仓合约总额将达到1.5万亿美元，仍远高于即将到期的单一股票未平仓合约总额（7750亿美元）。此外，由于股市处于历史高位，预计6月份大部分未平仓合约均低于当前SPX现货价格。如下图所示，双峰在3900和4150。这意味着周五之后，在伽马被重新填充之前，这些点周围可能会有一定的“反”重力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p><p><blockquote>这位高盛策略师随后解释了他认为低于已实现市场波动率的异常低水平的情况，并指出——正如我们上周讨论的——这与多头伽马头寸一致。考虑一下SPX<b>过去13个交易日的已实现波动率仅为5.1%，为2019年以来最低的13天已实现波动率。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p><p><blockquote>这与单一股票市场部分地区的极端波动形成鲜明对比；AMC上周是个股中合约量最高的（但名义交易量为70亿美元/天，远低于AMZN领先的1200亿美元/天），同期已实现成交量接近400%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p><p><blockquote>然后，正如野村证券的Charlie McElligott上周首次指出的那样，高盛的衍生品团队同意<b>极低的SPX已实现波动性与6月18日离开“华尔街”多头指数gamma的可能性是一致的，在这种情况下，Fishman呼应了我们上周所说的，即“一旦头寸变得更加干净，已实现波动性可能会回升。”</b>与此同时，VIX期货相对于SPX的贝塔值上升表明，投资者预计，如果市场抛售，空头伽马动态将会回升。翻译：<u><b>在抛售中，市场将变得更加波动。</b></u></blockquote></p><p> <img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p><p><blockquote>与此同时，与最新的备忘录股票挤压保持一致，高盛还指出，虽然单一股票期权交易量仍然很高，但远低于第一季度的峰值。最近几周，由散户驱动的所有单一股票期权活动的很大比例以及散户活动的预测价值都提高了对单一股票期权市场的关注。近期单一股票期权活动的增长主要集中在低股价股票上，导致过去两周合约交易量大幅上涨，但名义交易量并未与之匹配。在根据股市规模调整名义成交量时，高盛发现过去两周单只股票成交量实际上一直处于2021年区间的低点，这意味着最新的上涨几乎没有伽马挤压成分。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p><p><blockquote>我们最近讨论的最后一点是高盛的观察，即短期SPX期权（每周）和远离季度的趋势仍在继续，这与散户参与交易的不断增加相一致。这也是周五SPX到期时间小于最近许多季度的原因之一，也是为什么随着到期时间的临近，其交易量一直在下降的原因之一。</blockquote></p><p> As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p><p><blockquote>正如高盛所解释的那样，投资者越来越多地采用SPX到期的完整日历，包括每周一和周三的到期，因为他们围绕事件调整了自己的观点。事实上，<b>第三个周五到期的SPX期权交易量百分比处于历史最低点，</b>现在低于周一和周三到期的百分比。超短期交易量增加的一个解释是强劲的单一股票交易量：高盛提出了一个兴趣——“在某种程度上，做市商无法弥补散户投资者看涨期权买入产生的单一股票空头伽马，他们可能会积极交易超短期SPX指数期权的多头头寸，以抵消这种伽马。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></p><p><blockquote>为什么这很重要？因为如果这种趋势足够大，它会直接导致低隐含和实现的相关性。<b>具有讽刺意味的是，通过增加单一名称“最受做空的名称”，散户投资者正在市场的其他部分迎来一段非正统的平静时期！</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191245053","content_text":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").\nSo picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.\n\nYet while these totals are massive,when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.\n\nIt's worth noting that according to Goldman estimates that combos accountfor 15-20% of SPX options,so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.\n\nThe Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPXrealized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.\n\nThis contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.\n\nThen, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees thatthe extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:the market will become much more volatile in a selloff.\n\nMeanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.\n\nOne final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.\nAs Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"\n\nWhy is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160824159,"gmtCreate":1623782525271,"gmtModify":1631886579104,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/M44U.SI\">$MAPLETREE LOGISTICS TRUST(M44U.SI)$</a>gogo","listText":"<a href=\"https://laohu8.com/S/M44U.SI\">$MAPLETREE LOGISTICS TRUST(M44U.SI)$</a>gogo","text":"$MAPLETREE LOGISTICS 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see","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/895980856","repostId":"1149859103","repostType":4,"isVote":1,"tweetType":1,"viewCount":428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145273269,"gmtCreate":1626227693351,"gmtModify":1631890659704,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Rebound","listText":"Rebound","text":"Rebound","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145273269","repostId":"2151560584","repostType":4,"isVote":1,"tweetType":1,"viewCount":530,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160827335,"gmtCreate":1623782610527,"gmtModify":1631890659721,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Lets squeeze","listText":"Lets squeeze","text":"Lets squeeze","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/160827335","repostId":"1191245053","repostType":4,"repost":{"id":"1191245053","kind":"news","pubTimestamp":1623762167,"share":"https://www.laohu8.com/m/news/1191245053?lang=zh_CN&edition=full","pubTime":"2021-06-15 21:02","market":"us","language":"en","title":"Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets<blockquote>四女巫困境：周五2万亿美元伽马到期将如何影响市场</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191245053","media":"zerohedge","summary":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers .So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fis","content":"<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p><p><blockquote>上周，在讨论将VIX推至新冠大流行爆发以来的最低水平的市场夏季低迷时，我们表示，这段异常的市场平静期可能会持续到本周五的“四女巫”，届时大量的gamma和delta到期并去风险，在此过程中消除了股票的自然下行缓冲之一（请参阅“市场低迷随着下周五的Op-Ex而结束的4个原因”）。</blockquote></p><p> So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p><p><blockquote>因此，高盛内部衍生品专家洛基·菲什曼(Rocky Fishman)在谈到周五“可能影响市场的运营支出”的话题时，预览了即将到来的6月份到期，他称之为“规模很大——与典型的季度相当”。具体而言，<b>周五有1.8万亿美元的SPX期权到期，此外还有2400亿美元的SPDR标普500指数ETF期权以及2000亿美元的SPX和SPX E-mini期货期权。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p><p><blockquote>然而，尽管这些总数很大，<b>根据指数规模进行调整后，当前现货10%以内的到期期权数量比过去十年中的任何一个季度都要少。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p><p><blockquote>值得注意的是，根据高盛的估计，combos账户<b>对于15-20%的SPX期权，</b>因此，调整后的未平仓合约总额将达到1.5万亿美元，仍远高于即将到期的单一股票未平仓合约总额（7750亿美元）。此外，由于股市处于历史高位，预计6月份大部分未平仓合约均低于当前SPX现货价格。如下图所示，双峰在3900和4150。这意味着周五之后，在伽马被重新填充之前，这些点周围可能会有一定的“反”重力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p><p><blockquote>这位高盛策略师随后解释了他认为低于已实现市场波动率的异常低水平的情况，并指出——正如我们上周讨论的——这与多头伽马头寸一致。考虑一下SPX<b>过去13个交易日的已实现波动率仅为5.1%，为2019年以来最低的13天已实现波动率。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p><p><blockquote>这与单一股票市场部分地区的极端波动形成鲜明对比；AMC上周是个股中合约量最高的（但名义交易量为70亿美元/天，远低于AMZN领先的1200亿美元/天），同期已实现成交量接近400%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p><p><blockquote>然后，正如野村证券的Charlie McElligott上周首次指出的那样，高盛的衍生品团队同意<b>极低的SPX已实现波动性与6月18日离开“华尔街”多头指数gamma的可能性是一致的，在这种情况下，Fishman呼应了我们上周所说的，即“一旦头寸变得更加干净，已实现波动性可能会回升。”</b>与此同时，VIX期货相对于SPX的贝塔值上升表明，投资者预计，如果市场抛售，空头伽马动态将会回升。翻译：<u><b>在抛售中，市场将变得更加波动。</b></u></blockquote></p><p> <img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p><p><blockquote>与此同时，与最新的备忘录股票挤压保持一致，高盛还指出，虽然单一股票期权交易量仍然很高，但远低于第一季度的峰值。最近几周，由散户驱动的所有单一股票期权活动的很大比例以及散户活动的预测价值都提高了对单一股票期权市场的关注。近期单一股票期权活动的增长主要集中在低股价股票上，导致过去两周合约交易量大幅上涨，但名义交易量并未与之匹配。在根据股市规模调整名义成交量时，高盛发现过去两周单只股票成交量实际上一直处于2021年区间的低点，这意味着最新的上涨几乎没有伽马挤压成分。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p><p><blockquote>我们最近讨论的最后一点是高盛的观察，即短期SPX期权（每周）和远离季度的趋势仍在继续，这与散户参与交易的不断增加相一致。这也是周五SPX到期时间小于最近许多季度的原因之一，也是为什么随着到期时间的临近，其交易量一直在下降的原因之一。</blockquote></p><p> As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p><p><blockquote>正如高盛所解释的那样，投资者越来越多地采用SPX到期的完整日历，包括每周一和周三的到期，因为他们围绕事件调整了自己的观点。事实上，<b>第三个周五到期的SPX期权交易量百分比处于历史最低点，</b>现在低于周一和周三到期的百分比。超短期交易量增加的一个解释是强劲的单一股票交易量：高盛提出了一个兴趣——“在某种程度上，做市商无法弥补散户投资者看涨期权买入产生的单一股票空头伽马，他们可能会积极交易超短期SPX指数期权的多头头寸，以抵消这种伽马。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></p><p><blockquote>为什么这很重要？因为如果这种趋势足够大，它会直接导致低隐含和实现的相关性。<b>具有讽刺意味的是，通过增加单一名称“最受做空的名称”，散户投资者正在市场的其他部分迎来一段非正统的平静时期！</b></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>Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets<blockquote>四女巫困境：周五2万亿美元伽马到期将如何影响市场</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; 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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\">\nQuad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets<blockquote>四女巫困境：周五2万亿美元伽马到期将如何影响市场</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-06-15 21:02</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p><p><blockquote>上周，在讨论将VIX推至新冠大流行爆发以来的最低水平的市场夏季低迷时，我们表示，这段异常的市场平静期可能会持续到本周五的“四女巫”，届时大量的gamma和delta到期并去风险，在此过程中消除了股票的自然下行缓冲之一（请参阅“市场低迷随着下周五的Op-Ex而结束的4个原因”）。</blockquote></p><p> So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p><p><blockquote>因此，高盛内部衍生品专家洛基·菲什曼(Rocky Fishman)在谈到周五“可能影响市场的运营支出”的话题时，预览了即将到来的6月份到期，他称之为“规模很大——与典型的季度相当”。具体而言，<b>周五有1.8万亿美元的SPX期权到期，此外还有2400亿美元的SPDR标普500指数ETF期权以及2000亿美元的SPX和SPX E-mini期货期权。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p><p><blockquote>然而，尽管这些总数很大，<b>根据指数规模进行调整后，当前现货10%以内的到期期权数量比过去十年中的任何一个季度都要少。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p><p><blockquote>值得注意的是，根据高盛的估计，combos账户<b>对于15-20%的SPX期权，</b>因此，调整后的未平仓合约总额将达到1.5万亿美元，仍远高于即将到期的单一股票未平仓合约总额（7750亿美元）。此外，由于股市处于历史高位，预计6月份大部分未平仓合约均低于当前SPX现货价格。如下图所示，双峰在3900和4150。这意味着周五之后，在伽马被重新填充之前，这些点周围可能会有一定的“反”重力。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p><p><blockquote>这位高盛策略师随后解释了他认为低于已实现市场波动率的异常低水平的情况，并指出——正如我们上周讨论的——这与多头伽马头寸一致。考虑一下SPX<b>过去13个交易日的已实现波动率仅为5.1%，为2019年以来最低的13天已实现波动率。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p><p><blockquote>这与单一股票市场部分地区的极端波动形成鲜明对比；AMC上周是个股中合约量最高的（但名义交易量为70亿美元/天，远低于AMZN领先的1200亿美元/天），同期已实现成交量接近400%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p><p><blockquote>然后，正如野村证券的Charlie McElligott上周首次指出的那样，高盛的衍生品团队同意<b>极低的SPX已实现波动性与6月18日离开“华尔街”多头指数gamma的可能性是一致的，在这种情况下，Fishman呼应了我们上周所说的，即“一旦头寸变得更加干净，已实现波动性可能会回升。”</b>与此同时，VIX期货相对于SPX的贝塔值上升表明，投资者预计，如果市场抛售，空头伽马动态将会回升。翻译：<u><b>在抛售中，市场将变得更加波动。</b></u></blockquote></p><p> <img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p><p><blockquote>与此同时，与最新的备忘录股票挤压保持一致，高盛还指出，虽然单一股票期权交易量仍然很高，但远低于第一季度的峰值。最近几周，由散户驱动的所有单一股票期权活动的很大比例以及散户活动的预测价值都提高了对单一股票期权市场的关注。近期单一股票期权活动的增长主要集中在低股价股票上，导致过去两周合约交易量大幅上涨，但名义交易量并未与之匹配。在根据股市规模调整名义成交量时，高盛发现过去两周单只股票成交量实际上一直处于2021年区间的低点，这意味着最新的上涨几乎没有伽马挤压成分。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p><p><blockquote>我们最近讨论的最后一点是高盛的观察，即短期SPX期权（每周）和远离季度的趋势仍在继续，这与散户参与交易的不断增加相一致。这也是周五SPX到期时间小于最近许多季度的原因之一，也是为什么随着到期时间的临近，其交易量一直在下降的原因之一。</blockquote></p><p> As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p><p><blockquote>正如高盛所解释的那样，投资者越来越多地采用SPX到期的完整日历，包括每周一和周三的到期，因为他们围绕事件调整了自己的观点。事实上，<b>第三个周五到期的SPX期权交易量百分比处于历史最低点，</b>现在低于周一和周三到期的百分比。超短期交易量增加的一个解释是强劲的单一股票交易量：高盛提出了一个兴趣——“在某种程度上，做市商无法弥补散户投资者看涨期权买入产生的单一股票空头伽马，他们可能会积极交易超短期SPX指数期权的多头头寸，以抵消这种伽马。”</blockquote></p><p> <img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></p><p><blockquote>为什么这很重要？因为如果这种趋势足够大，它会直接导致低隐含和实现的相关性。<b>具有讽刺意味的是，通过增加单一名称“最受做空的名称”，散户投资者正在市场的其他部分迎来一段非正统的平静时期！</b></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191245053","content_text":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").\nSo picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.\n\nYet while these totals are massive,when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.\n\nIt's worth noting that according to Goldman estimates that combos accountfor 15-20% of SPX options,so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.\n\nThe Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPXrealized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.\n\nThis contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.\n\nThen, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees thatthe extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:the market will become much more volatile in a selloff.\n\nMeanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.\n\nOne final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.\nAs Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"\n\nWhy is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184938865,"gmtCreate":1623680264257,"gmtModify":1631886709552,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AGC\">$Altimeter Growth Corp.(AGC)$</a>[流泪]&nbsp;","listText":"<a href=\"https://laohu8.com/S/AGC\">$Altimeter Growth Corp.(AGC)$</a>[流泪]&nbsp;","text":"$Altimeter Growth Corp.(AGC)$[流泪]","images":[{"img":"https://static.tigerbbs.com/802dd695570b243b1af485dbde53f17e","width":"1200","height":"2133"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/184938865","isVote":1,"tweetType":1,"viewCount":641,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":693532749,"gmtCreate":1640048489404,"gmtModify":1640048489554,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693532749","repostId":"1100652914","repostType":4,"isVote":1,"tweetType":1,"viewCount":2684,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693536148,"gmtCreate":1640048395206,"gmtModify":1640048395287,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Go micron","listText":"Go micron","text":"Go micron","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693536148","repostId":"1102941409","repostType":4,"isVote":1,"tweetType":1,"viewCount":2717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":182781369,"gmtCreate":1623618313951,"gmtModify":1631890659754,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","listText":"[开心]&nbsp;[开心]&nbsp;[开心]&nbsp;","text":"[开心] [开心] [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182781369","repostId":"1185020128","repostType":4,"repost":{"id":"1185020128","kind":"news","pubTimestamp":1623537503,"share":"https://www.laohu8.com/m/news/1185020128?lang=zh_CN&edition=full","pubTime":"2021-06-13 06:38","market":"us","language":"en","title":"Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185020128","media":"investors","summary":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ","content":"<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线位于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>","source":"lsy1610449120050","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>Meme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</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\">\nMeme Stock Soars 1,000% To Lead These Two Top Small Cap Stock Plays<blockquote>Meme股票飙升1,000%，领跑这两只顶级小盘股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">investors</strong><span class=\"h-time small\">2021-06-13 06:38</span>\n</p>\n</h4>\n</header>\n<article>\n<p>GameStop may be the top holding in SPDR S&amp;P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.</p><p><blockquote>游戏驿站可能是SPDR S&amp;P 600小型股价值中最大的持股，但这并不是该ETF击败成长型股票的唯一原因。</blockquote></p><p> The $4.2 billion value fund tracks the S&amp;P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.</p><p><blockquote>这只价值42亿美元的价值基金追踪S&amp;P SmallCap 600价值指数(SLYV)，该指数由根据账面价值与价格比率、市盈率和销售价格比率具有最强价值特征的股票组成。截至周四收盘，SLYV今年上涨了32%。</blockquote></p><p> That more than doubles the return of its growth stock counterpart, SPDR S&amp;P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.</p><p><blockquote>这是成长型股票SPDR S&amp;P 600 Small Cap Growth(SLYG)回报率的两倍多，后者上涨了15%。SLYG跟踪的指数包括基于销售增长、盈利价格变化和动量的增长特征最强的股票。</blockquote></p><p> Back to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each.&nbsp;Smaller positions in consumer staples, utilities and communication services made up the rest.</p><p><blockquote>回到SLYV，金融业占资产比重最大，占资产的24%。工业股约占17%，非必需消费品股15%，房地产股10%。其次是信息技术，占8%，材料、能源和医疗保健，各占6%。消费品、公用事业和通信服务的较小头寸占其余部分。</blockquote></p><p> SPDR S&amp;P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&amp;P 600 Small Cap Growth is not.</p><p><blockquote>SPDR S&amp;P 600 Small Cap Value位居IBD ETF领先者之列，但SPDR S&amp;P 600 Small Cap Growth则不然。</blockquote></p><p> <b>GameStop Stock Leads</b></p><p><blockquote><b>游戏驿站股票领先</b></blockquote></p><p> <b>GameStop</b>(GME),<b>Macy's</b>(M),<b>PDC Energy</b>(PDCE),<b>Resideo Technologies</b>(REZI) and<b>BankUnited</b>(BKU) were the top five holdings as of Wednesday.</p><p><blockquote><b>游戏驿站</b>（GME），<b>梅西百货</b>(M)，<b>PDC能源</b>（PDCE），<b>Resideo技术</b>（雷齐）和<b>联合银行</b>(BKU)是截至周三的前五大持股。</blockquote></p><p> <b>Pacific Premier Bancorp</b>(PPBI),<b>Bed Bath &amp; Beyond</b>(BBBY),<b>Ameris Bancorp</b>(ABCB),<b>First Hawaiian</b>(FHB) and<b>Insight Enterprises</b>(NSIT) rounded out the top 10.</p><p><blockquote><b>太平洋卓越银行</b>（PPBI），<b>贝德柏士比昂公司</b>（BBBY），<b>美国银行</b>（ABCB），<b>第一夏威夷人</b>（FHB）和<b>洞察企业</b>(NSIT)跻身前十名。</blockquote></p><p> GameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.</p><p><blockquote>游戏驿站今年经历了大幅波动。今年早些时候，在Reddit/WallStreetBets人群推动的空头挤压反弹中，该股飙升了约2,500%。GME股票随后从1月28日的高点暴跌92%至2月中旬的低点。随后在接下来的三周内飙升805%，在接下来的两周内下跌66%。</blockquote></p><p> Action had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.</p><p><blockquote>此后，股价一直相对低迷，直到周四暴跌27%。即便如此，截至周四收盘，游戏驿站股价今年迄今仍上涨了1,070%。</blockquote></p><p> Could GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.</p><p><blockquote>GME会夸大SLYV的业绩吗？当然，考虑到其四位数的增益。但看看SLYG的投资组合很有趣。游戏驿站股票也是成长型股票ETF中持股最多的股票，尽管前10名中的其他股票差异很大。</blockquote></p><p> <b>Second Meme Stock In Top 10</b></p><p><blockquote><b>前十名中的第二只模因股票</b></blockquote></p><p> PDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.</p><p><blockquote>PDC Energy上涨130%，在前十名中涨幅第二大。这家总部位于科罗拉多州的石油和天然气勘探公司的相对强度评级为97，这意味着它在所有股票中排名前3%。其相对强弱线位于52周高点，这是一个看涨信号。</blockquote></p><p> Bed Bath &amp; Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.</p><p><blockquote>另一只模因股票Bed Bath&amp;Beyond今年上涨了78%。在一系列两位数的剧烈波动中，股价在1月份飙升了200%以上。BBBY股票随后回吐了大部分涨幅。</blockquote></p><p> But the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath &amp; Beyond soared 62% before diving 28% the next session.</p><p><blockquote>但这家家居用品零售商似乎又重新受到了WallStreetBets讨论组的关注。6月2日，Bed Bath&amp;Beyond股价飙升62%，随后第二个交易日暴跌28%。</blockquote></p><p> The rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&amp;P 500 held a 13% gain through Thursday's close.</p><p><blockquote>其余前10只股票的表现也优于大盘。梅西百货今年迄今上涨了68%，而Resideo、Pacific Premier和Ameris的涨幅均超过40%。涨幅最低的银行控股公司First Hawaiian上涨了20%。截至周四收盘，标普500上涨了13%。</blockquote></p><p> SLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis.&nbsp;SLYV and SLYG charge a 0.15% expense ratio.</p><p><blockquote>根据MarketSmithChart分析，SLYV仍处于带手柄acup的87.29入场点的潜在买入范围内。SLYV和SLYG收取0.15%的费用率。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220\">investors</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":{"PDCE":"PDC Energy","BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://www.investors.com/etfs-and-funds/etf-leaders/gamestop-stock-soars-1000-percent-lead-two-top-small-cap-stock-plays/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185020128","content_text":"GameStop may be the top holding in SPDR S&P 600 Small Cap Value, but that's not the only reason the ETF is beating its growth-stock counterpart.\nThe $4.2 billion value fund tracks the S&P SmallCap 600 Value Index (SLYV), composed of stocks with the strongest value traits based on book value to price ratio, earnings to price ratio, and sales to price ratio. SLYV rallied 32% this year through Thursday's close.\nThat more than doubles the return of its growth stock counterpart, SPDR S&P 600 Small Cap Growth (SLYG), which is up 15%. The index SLYG tracks includes stocks with the strongest growth traits based on sales growth, earnings change to price and momentum.\nBack to SLYV, financials accounted for the biggest sector weight at 24% of assets. Industrials weighed in at about 17%, consumer discretionary 15% and real estate 10%. Information technology was next at 8% and materials, energy and health care, 6% each. Smaller positions in consumer staples, utilities and communication services made up the rest.\nSPDR S&P 600 Small Cap Value is in IBD's ETF Leaders, but SPDR S&P 600 Small Cap Growth is not.\nGameStop Stock Leads\nGameStop(GME),Macy's(M),PDC Energy(PDCE),Resideo Technologies(REZI) andBankUnited(BKU) were the top five holdings as of Wednesday.\nPacific Premier Bancorp(PPBI),Bed Bath & Beyond(BBBY),Ameris Bancorp(ABCB),First Hawaiian(FHB) andInsight Enterprises(NSIT) rounded out the top 10.\nGameStop has undergone wide swings this year. It rocketed about 2,500% early this year amid theshort-squeeze rallyfueled by the Reddit/WallStreetBets crowd.GME stockthen crashed 92% from a Jan. 28 high to its mid-February low. That was followed by an 805% surge the next three weeks, and a 66% drop over the next two weeks.\nAction had been relatively subdued since, until Thursday's 27% dive. Even after that, GameStop stock was up 1,070% year to date through Thursday's close.\nCould GME be inflating SLYV's performance? Certainly, given its quadruple-digit gain. But a look at SLYG's portfolio is interesting. GameStop stock is also the top holding in the growth stock ETF, though the rest of the top 10 differ vastly.\nSecond Meme Stock In Top 10\nPDC Energy, up 130%, saw the next biggest gain in the top 10. The Colorado-based oil and gas explorer has a 97Relative Strength Rating, which mean it's in the top 3% of all stocks. Its relative strength line is at a 52-week high, a bullish sign.\nBed Bath & Beyond, another meme stock, is up 78% this year. Shares surged more than 200% in January, amid a spate of wild double-digit swings. BBBY stock then gave back the bulk of its gains.\nBut the home goods retailer appears to be back on the radar of the WallStreetBets discussion group. On June 2, Bed Bath & Beyond soared 62% before diving 28% the next session.\nThe rest of the top 10 stocks have also outperformed the broader market. Macy's is up 68% year to date, while Resideo, Pacific Premier and Ameris have risen more than 40% each. The lowest gainer, bank holding company First Hawaiian, has advanced 20%. The S&P 500 held a 13% gain through Thursday's close.\nSLYV remains in potential buy range from an 87.29entryof acup with handle, according toMarketSmithchart analysis. SLYV and SLYG charge a 0.15% expense ratio.","news_type":1,"symbols_score_info":{"BBBY":0.9,"PDCE":0.9}},"isVote":1,"tweetType":1,"viewCount":689,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692171806,"gmtCreate":1640891868205,"gmtModify":1640891868340,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"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/692171806","repostId":"1139674064","repostType":4,"repost":{"id":"1139674064","kind":"news","pubTimestamp":1640878484,"share":"https://www.laohu8.com/m/news/1139674064?lang=zh_CN&edition=full","pubTime":"2021-12-30 23:34","market":"us","language":"en","title":"Lucid Vs. NIO Stock: Which EV Stock Is The Better Buy?<blockquote>Lucid与蔚来股票：哪只电动汽车股票更值得购买？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139674064","media":"Seeking Alpha","summary":"SummaryThe EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.Both NIO and LCID have strong brands and gre","content":"<p><html><head></head><body><b>Summary</b></p><p><blockquote><html><head></head><body><b>总结</b></body></html></blockquote></p><p><ul><li>The EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.</li><li>Both NIO and LCID have strong brands and great tech, which allow them to demand high ASPs.</li><li>NIO seems like the lower-risk choice among these two, and due to being a lot farther along from a production ramp perspective, it is, I believe, the better choice today.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0fe01e445aec1bb67f1b8d810f551603\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"/><span>Trygve Finkelsen/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>电动汽车市场的竞争越来越激烈。拥有强大的品牌或技术对于公司脱颖而出非常重要。</li><li>蔚来和LCID都拥有强大的品牌和出色的技术，这使得它们能够要求很高的平均售价。</li><li>蔚来似乎是这两者中风险较低的选择，而且由于从产量增长的角度来看，它走得更远，我相信它是当今更好的选择。</li></ul><p class=\"t-img-caption\"><span>Trygve Finkelsen/iStock社论来自Getty Images</span></p></blockquote></p><p><b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p>The EV space has brought up many companies that do not seem too viable in the long run, but there are also strong contenders apart from Tesla (TSLA). In this report, we&#39;ll pit Lucid Group, Inc. (LCID) and NIO Inc. (NIO) against each other - two of the most interesting EV players that combine strong brands and high-end technological capabilities. In this report, we&#39;ll take a deeper dive into the tech and product side and will look at individual risks for both companies. Overall, I do believe that NIO is the more attractive choice among these two at current prices.</p><p><blockquote>电动汽车领域催生了许多从长远来看似乎不太可行的公司，但除了特斯拉（TSLA）之外，也有强有力的竞争者。在本报告中，我们将对Lucid Group，Inc.(LCID)和蔚来（蔚来）进行对比，这两家最有趣的电动汽车公司结合了强大的品牌和高端技术能力。在本报告中，我们将更深入地探讨技术和产品方面，并探讨两家公司的个别风险。总体而言，我确实相信以目前的价格来看，蔚来是这两个选择中更具吸引力的。</blockquote></p><p><b>Lucid And NIO In The EV Market</b></p><p><blockquote><b>电动汽车市场的Lucid和蔚来</b></blockquote></p><p>The global EV market has been growing rapidly, with EV sales likely coming in a little north of six million, which is roughly twice as high as during the previous year. Clearly, EVs are a huge growth sector in the global automobile market, although it should be noted that most vehicles sold around the world are still powered by internal combustion engines. Over the years, EV market share should continue to climb rapidly, but it is not looking like EVs will dominate ICE vehicles any time soon.</p><p><blockquote>全球电动汽车市场一直在快速增长，电动汽车销量可能略高于600万辆，大约是上一年的两倍。显然，电动汽车是全球汽车市场的一个巨大增长领域，尽管应该指出的是，全球销售的大多数车辆仍然由内燃机驱动。多年来，电动汽车市场份额应该会继续快速攀升，但电动汽车似乎不会很快主导内燃机汽车。</blockquote></p><p>The market leaders in the EV space are Tesla and BYD (OTCPK:BYDDY), and, depending on how one counts plug-in hybrids, Volkswagen (OTCPK:VWAGY). NIO Inc. and Lucid Group, Inc. are not among the largest companies for now. NIO is selling around 11,000 vehicles a month right now, which translates into a ~130,000 annual sales pace. Sales have been growing quickly, however, which is why NIO will most likely sell more than 130,000 vehicles next year, as deliveries should continue to climb sequentially. Lucid is way smaller for now, in terms of deliveries, as the company has likely sold a couple of hundred vehicles this year. Next year, Lucid Group targets deliveries of around 20,000 vehicles - up by a lot versus 2021, but still a relatively small number compared to the deliveries NIO and many other peers will hit next year.</p><p><blockquote>电动汽车领域的市场领导者是特斯拉和比亚迪（OTCPK：BYDDY），以及大众汽车（OTCPK：VWAGY），具体取决于插电式混合动力车的计算方式。蔚来和Lucid Group，Inc.目前还不是最大的公司。蔚来目前每月销售约11,000辆汽车，相当于年销量约130,000辆。然而，销量一直在快速增长，这就是为什么蔚来明年的销量很可能会超过13万辆，因为交付量应该会继续连续攀升。就交付量而言，Lucid目前的规模要小得多，因为该公司今年可能已售出数百辆汽车。明年，Lucid Group的目标是交付约20,000辆汽车，比2021年增长很多，但与蔚来和许多其他同行明年的交付量相比，这个数字仍然相对较小。</blockquote></p><p><b>LCID Vs. NIO&#39;s Past Quarterly Performance</b></p><p><blockquote><b>LCID与蔚来过去的季度表现</b></blockquote></p><p>As noted above, NIO&#39;s sales performance was way stronger than that of Lucid over the last three months, but that was hardly a surprise as LCID just began delivering vehicles to customers. On a share price basis, however, Lucid fared better:</p><p><blockquote>如上所述，蔚来过去三个月的销售业绩远强于Lucid，但这并不奇怪，因为LCID刚刚开始向客户交付车辆。然而，从股价来看，Lucid的表现更好：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7a6e7cb1b1485f32cc25ade9f387a5b\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Over the last three months, LCID is up close to 50%, whereas NIO saw its shares drop by close to 20% over the same time frame. In NIO&#39;s case, macro worries about Chinese regulation played a role, whereas LCID benefitted a lot from growing enthusiasm for US-based EV players caused by Rivian&#39;s (RIVN) huge IPO success. On top of that, the start of deliveries also attracted new investors to Lucid&#39;s stock. If analysts are correct, NIO is the much better value today:</p><p><blockquote>过去三个月，LCID上涨了近50%，而蔚来的股价同期下跌了近20%。就蔚来而言，对中国监管的宏观担忧发挥了作用，而LCID则从Rivian(RIVN)IPO的巨大成功引发的对美国电动汽车企业日益增长的热情中受益匪浅。最重要的是，交付的开始也吸引了新投资者购买Lucid的股票。如果分析师是正确的，那么蔚来今天的价值要高得多：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b1d0939d657b284e25d8447ccb211b5\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Shares are trading at less than half the consensus price target, which implies 100%+ upside over the next year, whereas LCID is trading almost perfectly in line with the current consensus price target - which implies no upside over the next year. NIO&#39;s underperformance over the last quarter thus seems to position the company well for a strong performance from the current level, whereas the same can&#39;t be said about Lucid.</p><p><blockquote>该股的交易价格不到共识价格目标的一半，这意味着明年有100%以上的上涨空间，而LCID的交易价格几乎完全符合当前的共识价格目标，这意味着明年没有上涨空间。因此，蔚来上个季度的表现不佳似乎使该公司在当前水平上表现强劲，而Lucid则不然。</blockquote></p><p><b>Lucid Vs. NIO Key Metrics</b></p><p><blockquote><b>Lucid与蔚来关键指标</b></blockquote></p><p></p><p>Let&#39;s take a deeper look at the tech of the two companies, as well as at their branding, and their specific key risks. Both NIO and Lucid are active in the high-end segment of the EV industry, selling vehicles with ASPs well north of the average Tesla. NIO&#39;s ASP is around $70,000, and Lucid&#39;s ASP is even higher than that for now, as the company is selling the most expensive Air<i>Dream</i>version first. Tesla, the current EV leader, has an ASP of around $50,000. Both NIO and Tesla are thus operating in a more luxurious, higher-end segment of the market compared to Tesla. How are these companies able to demand way higher ASPs than Tesla? There are several factors at play, including branding, but one of the most important factors is their great tech.</p><p><blockquote>让我们更深入地了解这两家公司的技术、品牌及其具体的主要风险。蔚来和Lucid都活跃在电动汽车行业的高端领域，销售的汽车平均售价远高于特斯拉的平均水平。蔚来的平均售价约为7万美元，Lucid的平均售价目前甚至更高，因为该公司销售的是最昂贵的Air<i>梦想</i>版本优先。特斯拉是目前电动汽车的领导者，其平均售价约为5万美元。因此，与特斯拉相比，蔚来和特斯拉都在更豪华、更高端的细分市场运营。这些公司怎么能要求比特斯拉高得多的平均售价呢？有几个因素在起作用，包括品牌，但最重要的因素之一是他们出色的技术。</blockquote></p><p>NIO&#39;s battery-swapping technology, for example, allows its customers to fully &#34;recharge&#34; in a couple of minutes, while most other EVs take way longer to fully charge. Lucid doesn&#39;t employ battery-swapping, but its racing-tested 900V technology allows for both a huge range as well as for fast charging speeds - Lucid&#39;s architecture allows customers to charge up to 300 miles worth of energy in just 20 minutes. The Tesla S, for reference, uses a ~400V architecture that allows customers to recharge 200 miles in 15 minutes. Clearly, both NIO&#39;s solution, as well as Lucid&#39;s solution, seem superior compared to what Tesla is offering.</p><p><blockquote>例如，蔚来的电池交换技术允许其客户在几分钟内充满“充电”，而大多数其他电动汽车需要更长的时间才能充满电。Lucid不采用电池更换，但其经过赛车测试的900V技术既可以实现巨大的续航里程，又可以实现快速充电速度——Lucid的架构允许客户在短短20分钟内充电长达300英里的电量。作为参考，特斯拉S采用约400V架构，允许客户在15分钟内充电200英里。显然，蔚来的解决方案和Lucid的解决方案似乎都优于特斯拉提供的解决方案。</blockquote></p><p>NIO&#39;s and Lucid&#39;s tech also looks highly competitive when it comes to their respective batteries. The Lucid Air Dream has an EPA range of 520 miles, which should be sufficient for almost all use cases. NIO has a larger product portfolio compared to Lucid, but when we take a look at its top-end sedan, battery performance looks even better. The NIO ET7, with a 150kWh battery (smaller options are available, too), has a range of up to 1,000km, which equates to around 620 miles of range. Again, both NIO and Lucid perform well compared to Tesla - the flagship S Plaid has an EPA range of 350 miles. Thanks to its experience in developing and supplying racing engines for electric race cars, Lucid crafts an especially efficient engine:</p><p><blockquote>蔚来和Lucid的技术在各自的电池方面看起来也很有竞争力。Lucid Air Dream的EPA续航里程为520英里，对于几乎所有用例来说都足够了。与Lucid相比，蔚来拥有更大的产品组合，但当我们看看它的高端轿车时，电池性能看起来甚至更好。蔚来ET7配备150kWh电池（也有更小的选择），续航里程可达1,000公里，相当于约620英里的续航里程。同样，与特斯拉相比，蔚来和Lucid的表现都很好——旗舰S Plaid的EPA续航里程为350英里。凭借其在为电动赛车开发和供应赛车发动机方面的经验，Lucid制造了一款特别高效的发动机：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edf92a9709beceb826f2e86b3bc25dd6\" tg-width=\"1502\" tg-height=\"829\" referrerpolicy=\"no-referrer\"/><span>Source: Lucid presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Lucid演示</span></p></blockquote></p><p>A smaller, more efficient engine results in lower resource usage and reduces the weight of the vehicle, all else equal. This does, in turn, lead to a longer range, and it also allows for better handling and driving performance, all else equal. Lucid is by far not the biggest EV player today, but its engineers have developed some of the most compelling products and solutions among all currently active EV players.</p><p><blockquote>在其他条件相同的情况下，更小、更高效的发动机可以降低资源使用量并减轻车辆重量。反过来，这确实会带来更长的续航里程，并且在其他条件相同的情况下，还可以实现更好的操控和驾驶性能。到目前为止，Lucid还不是当今最大的电动汽车参与者，但其工程师已经开发出了一些目前所有活跃的电动汽车参与者中最引人注目的产品和解决方案。</blockquote></p><p>NIO puts a lot of focus on technologies that will eventually allow for autonomous driving and puts massive numbers of sensors and huge computing power in its vehicles today. The ET7 uses the following sensing units for that goal:</p><p><blockquote>蔚来非常关注最终实现自动驾驶的技术，并在当今的车辆中安装了大量传感器和巨大的计算能力。ET7使用以下传感单元来实现此目标：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b39530a306d0b27d76d36bccec0e147d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"/><span>Source: NIO</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：蔚来</span></p></blockquote></p><p>With 33 sensors that use up to 8MP, NIO&#39;s sensing capabilities easily blow away those of Tesla. The Tesla Model 3, which is, according to CEO Musk, ready for full-self-driving, only uses 8 cameras with 1.2MP each. One of NIO&#39;s sensors in the ET7 thus has almost as much sensing performance as all of the cameras in the M3 combined - and NIO uses 32 additional sensors in its model. Clearly, NIO&#39;s offering is superior - and that obviously comes at a price, as NIO is not skimping when it comes to putting the best tech in its vehicles. This is also showcased by the massive processing power of the chips NIO uses in the ET7. The ET7 uses four NVIDIA (NVDA) Orin SoCs, each of which offers slightly more than 250 trillion operations per second, which makes for combined computing power of more than 1,000 TOPS - unheard of in any production vehicle. Using four SoCs at the same time also provides for the redundancy that is required for critical systems in a self-driving scenario. it should be noted that NIO&#39;s self-driving tech is not as excellent on the software side - yet. At least for now, peers such as XPeng (XPEV) seem to employ the stronger algorithms, but that is a problem that NIO can solve over the coming quarters and years, and integrating future software in its vehicles that come with top-notch hardware shouldn&#39;t be a very difficult task. Lucid&#39;s self-driving tech, even though it doesn&#39;t get a lot of recognition yet, is not looking bad at all, either. The DreamDrive suite utilizes 32 onboard sensors, almost on par with NIO&#39;s Aquila system (and 4x more sensors compared to the M3, which is allegedly L5 ready from a hardware perspective).</p><p><blockquote>凭借33个高达800万像素的传感器，蔚来的传感能力轻松击败了特斯拉。据首席执行官马斯克称，特斯拉Model 3已准备好实现全自动驾驶，仅使用8个摄像头，每个摄像头为120万像素。因此，ET7中蔚来的一个传感器的传感性能几乎相当于M3中所有摄像头的总和，而蔚来在其车型中使用了32个额外的传感器。显然，蔚来的产品是优越的——这显然是有代价的，因为蔚来在将最好的技术应用到其车辆中时并不吝啬。蔚来在ET7中使用的芯片的巨大处理能力也证明了这一点。ET7使用四个NVIDIA(NVDA)Orin SoC，每个SoC每秒提供略高于250万亿次运算，总计算能力超过1,000 TOPS，这在任何量产车中都是闻所未闻的。同时使用四个SoC还可以提供自动驾驶场景中关键系统所需的冗余。应该指出的是，蔚来的自动驾驶技术在软件方面还没有那么出色。至少目前，小鹏汽车（XPEV）等同行似乎采用了更强大的算法，但这是蔚来可以在未来几个季度和几年内解决的问题，并将未来的软件集成到配备顶级硬件的车辆中不应该是一项非常困难的任务。Lucid的自动驾驶技术尽管尚未得到太多认可，但看起来也一点也不差。DreamDrive套件使用32个板载传感器，几乎与蔚来的Aquila系统相当（与M3相比，传感器多4倍，据称从硬件角度来看，M3已准备好L5）。</blockquote></p><p></p><p>Strong tech alone doesn&#39;t make for an attractive vehicle, however, as design, manufacturing quality, etc. have to be considered as well. Luckily, both NIO and Lucid compete very well on that basis, although the data on Lucid is still limited due to the low sales numbers - not too many people have driven a Lucid Air yet, thus data about reliability, etc. is limited. NIO, however, has been selling thousands of vehicles a month for quite some time, and its users are very satisfied with the vehicles&#39; quality. CnTechPost reports that J.D. Power has rated NIO the highest-quality EV company in China, ahead of Tesla. Lucid is not active in the country yet, but test drives by a wide range of auto journalists and magazines have generally resulted in very positive reviews. Both NIO and Lucid thus look strong from a design, quality, and tech perspective, with NIO putting more focus on customer-friendly items such as battery-swapping and driving assistance, whereas Lucid puts more focus on engine performance, battery tech, etc. Both avenues have their advantages, but I personally could see NIO benefit more from its easy-to-use, customer-friendly approach, as not too many people will buy an EV based on criteria such as the battery architecture. Still, Lucid&#39;s ability to develop high-performing vehicles should come in very handy in the highly competitive EV industry going forward.</p><p><blockquote>然而，仅靠强大的技术并不能造就一辆有吸引力的汽车，因为设计、制造质量等也必须考虑在内。幸运的是，蔚来和Lucid在此基础上竞争非常好，尽管由于销量较低，Lucid的数据仍然有限——还没有太多人驾驶过Lucid Air，因此有关可靠性等的数据有限。然而，蔚来已经有一段时间每月销售数千辆汽车，并且其用户对车辆的质量非常满意。CnTechPost报道J.D。Power将蔚来评为国内质量最高的电动汽车公司，领先于特斯拉。Lucid在该国尚未活跃，但众多汽车记者和杂志的试驾普遍获得了非常积极的评价。因此，从设计、质量和技术的角度来看，蔚来和Lucid看起来都很强大，蔚来更关注电池更换和驾驶辅助等客户友好型项目，而Lucid则更关注发动机性能、电池技术等。这两种途径都有其优势，但我个人认为蔚来从其易于使用、客户友好的方法中受益更多，因为没有太多人会根据电池架构等标准购买电动汽车。尽管如此，Lucid开发高性能汽车的能力在未来竞争激烈的电动汽车行业应该会非常方便。</blockquote></p><p>With NIO, the main risk the market seems to worry about now is regulation/politics. I personally do not believe that regulation will be a huge risk for NIO. Chinese companies never were able to compete successfully in the ICE vehicle space, but with EV technologies bringing change to the entire global automobile industry, China saw its chance to become a global automobile powerhouse. Hurting NIO and other Chinese EV players would run contrary to those goals, which is why I believe that China is more interested in nurturing its own EV players, including NIO, instead of hurting them. Still, the market puts a discount on every Chinese company today, and that holds true for NIO as well - which might be a good thing for those seeking to buy into the company at a below-average valuation.</p><p><blockquote>对于蔚来，市场现在担心的主要风险似乎是监管/政治。我个人不认为监管会给蔚来带来巨大风险。中国公司从未能够在内燃机汽车领域成功竞争，但随着电动汽车技术给整个全球汽车行业带来变革，中国看到了成为全球汽车强国的机会。伤害蔚来和其他中国电动汽车企业将与这些目标背道而驰，这就是为什么我认为中国更有兴趣培养自己的电动汽车企业，包括蔚来，而不是伤害他们。尽管如此，如今市场对每家中国公司都给予了折扣，蔚来也是如此——这对于那些寻求以低于平均水平的估值买入该公司的人来说可能是一件好事。</blockquote></p><p>For Lucid, regulation doesn&#39;t seem like an important risk. Instead, the main risks here are the high valuation and the production ramp. As Tesla has shown, ramping up vehicle production is no easy task. The company oftentimes had to battle with delays and other issues, sometimes summarized as &#34;Production Hell&#34;. The same could hold true for Lucid, which will have to ramp up production at a high speed in the coming months and quarters in order to meet its ambitious production goals. It&#39;s not a certainty that it will experience similar issues to other manufacturers, of course, but due to a lack of experience, this seems a considerable risk worth keeping an eye on. On top of that, LCID&#39;s high valuation could be a considerable risk - shares trade at around 30x next year&#39;s expected revenue, and there is no guarantee at all that those revenues will actually be generated.</p><p><blockquote>对于Lucid来说，监管似乎并不是一个重要的风险。相反，这里的主要风险是高估值和产量增加。正如特斯拉所表明的那样，提高汽车产量并不是一件容易的事。该公司经常不得不与延误和其他问题作斗争，有时被总结为“生产地狱”。Lucid可能也是如此，该公司将不得不在未来几个月和几个季度高速提高产量，以实现其雄心勃勃的生产目标。当然，不能确定它会遇到与其他制造商类似的问题，但由于缺乏经验，这似乎是一个值得关注的相当大的风险。最重要的是，LCID的高估值可能是一个相当大的风险——股票交易价格约为明年预期收入的30倍，而且根本不能保证这些收入会真正产生。</blockquote></p><p><b>Is Lucid Or NIO Stock The Better Buy?</b></p><p><blockquote><b>Lucid或蔚来股票更值得购买吗？</b></blockquote></p><p>Both NIO and Lucid have attractive products that seem highly competitive in the EV market that is seeing more and more entrants. I do believe that both companies will have operational success over the coming years, driven by strong tech, attractive brands, and compelling product quality. Operational growth does not necessarily result in share price growth, however, as valuations can be a major hurdle when one buys at a price that is too high.</p><p><blockquote>蔚来和Lucid都拥有有吸引力的产品，这些产品在越来越多进入者的电动汽车市场中似乎极具竞争力。我确实相信，在强大的技术、有吸引力的品牌和引人注目的产品质量的推动下，两家公司将在未来几年取得运营成功。然而，运营增长并不一定会导致股价增长，因为当人们以过高的价格买入时，估值可能会成为一个主要障碍。</blockquote></p><p>In NIO&#39;s case, that does not seem like an overly large risk, as shares are inexpensive relative to how other EV players are valued - NIO trades at ~4x next year&#39;s expected revenue, which represents a clear discount compared to LCID, RIVN, TSLA, and so on. Lucid, on the other hand, is trading at a very premium valuation of 30x next year&#39;s sales.</p><p><blockquote>就蔚来而言，这似乎并不是一个过大的风险，因为相对于其他电动汽车公司的估值而言，其股价并不昂贵——蔚来的交易价格约为明年预期收入的4倍，与LCID、RIVN、TSLA相比有明显的折扣，等等。另一方面，Lucid的估值非常高，是明年销售额的30倍。</blockquote></p><p>I do believe that, based on its larger size, more established operations, better progress in ramping production, and due to its much more reasonable valuation, NIO is the better pick among these two today.The recent share price decline makes for an attractive entry point for those interested in owning this top-notch Chinese EV player.</p><p><blockquote>我确实相信，基于其更大的规模、更成熟的业务、更好的增产进展，以及更合理的估值，蔚来是当今这两家公司中更好的选择。对于那些有兴趣拥有这家顶级中国电动汽车公司的人来说，最近的股价下跌是一个有吸引力的切入点。</blockquote></p><p></body></html></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>Lucid Vs. NIO Stock: Which EV Stock Is The Better Buy?<blockquote>Lucid与蔚来股票：哪只电动汽车股票更值得购买？</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\">\nLucid Vs. NIO Stock: Which EV Stock Is The Better Buy?<blockquote>Lucid与蔚来股票：哪只电动汽车股票更值得购买？</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\">2021-12-30 23:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body><b>Summary</b></p><p><blockquote><html><head></head><body><b>总结</b></body></html></blockquote></p><p><ul><li>The EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.</li><li>Both NIO and LCID have strong brands and great tech, which allow them to demand high ASPs.</li><li>NIO seems like the lower-risk choice among these two, and due to being a lot farther along from a production ramp perspective, it is, I believe, the better choice today.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0fe01e445aec1bb67f1b8d810f551603\" tg-width=\"1536\" tg-height=\"1025\" referrerpolicy=\"no-referrer\"/><span>Trygve Finkelsen/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>电动汽车市场的竞争越来越激烈。拥有强大的品牌或技术对于公司脱颖而出非常重要。</li><li>蔚来和LCID都拥有强大的品牌和出色的技术，这使得它们能够要求很高的平均售价。</li><li>蔚来似乎是这两者中风险较低的选择，而且由于从产量增长的角度来看，它走得更远，我相信它是当今更好的选择。</li></ul><p class=\"t-img-caption\"><span>Trygve Finkelsen/iStock社论来自Getty Images</span></p></blockquote></p><p><b>Article Thesis</b></p><p><blockquote><b>文章论文</b></blockquote></p><p>The EV space has brought up many companies that do not seem too viable in the long run, but there are also strong contenders apart from Tesla (TSLA). In this report, we&#39;ll pit Lucid Group, Inc. (LCID) and NIO Inc. (NIO) against each other - two of the most interesting EV players that combine strong brands and high-end technological capabilities. In this report, we&#39;ll take a deeper dive into the tech and product side and will look at individual risks for both companies. Overall, I do believe that NIO is the more attractive choice among these two at current prices.</p><p><blockquote>电动汽车领域催生了许多从长远来看似乎不太可行的公司，但除了特斯拉（TSLA）之外，也有强有力的竞争者。在本报告中，我们将对Lucid Group，Inc.(LCID)和蔚来（蔚来）进行对比，这两家最有趣的电动汽车公司结合了强大的品牌和高端技术能力。在本报告中，我们将更深入地探讨技术和产品方面，并探讨两家公司的个别风险。总体而言，我确实相信以目前的价格来看，蔚来是这两个选择中更具吸引力的。</blockquote></p><p><b>Lucid And NIO In The EV Market</b></p><p><blockquote><b>电动汽车市场的Lucid和蔚来</b></blockquote></p><p>The global EV market has been growing rapidly, with EV sales likely coming in a little north of six million, which is roughly twice as high as during the previous year. Clearly, EVs are a huge growth sector in the global automobile market, although it should be noted that most vehicles sold around the world are still powered by internal combustion engines. Over the years, EV market share should continue to climb rapidly, but it is not looking like EVs will dominate ICE vehicles any time soon.</p><p><blockquote>全球电动汽车市场一直在快速增长，电动汽车销量可能略高于600万辆，大约是上一年的两倍。显然，电动汽车是全球汽车市场的一个巨大增长领域，尽管应该指出的是，全球销售的大多数车辆仍然由内燃机驱动。多年来，电动汽车市场份额应该会继续快速攀升，但电动汽车似乎不会很快主导内燃机汽车。</blockquote></p><p>The market leaders in the EV space are Tesla and BYD (OTCPK:BYDDY), and, depending on how one counts plug-in hybrids, Volkswagen (OTCPK:VWAGY). NIO Inc. and Lucid Group, Inc. are not among the largest companies for now. NIO is selling around 11,000 vehicles a month right now, which translates into a ~130,000 annual sales pace. Sales have been growing quickly, however, which is why NIO will most likely sell more than 130,000 vehicles next year, as deliveries should continue to climb sequentially. Lucid is way smaller for now, in terms of deliveries, as the company has likely sold a couple of hundred vehicles this year. Next year, Lucid Group targets deliveries of around 20,000 vehicles - up by a lot versus 2021, but still a relatively small number compared to the deliveries NIO and many other peers will hit next year.</p><p><blockquote>电动汽车领域的市场领导者是特斯拉和比亚迪（OTCPK：BYDDY），以及大众汽车（OTCPK：VWAGY），具体取决于插电式混合动力车的计算方式。蔚来和Lucid Group，Inc.目前还不是最大的公司。蔚来目前每月销售约11,000辆汽车，相当于年销量约130,000辆。然而，销量一直在快速增长，这就是为什么蔚来明年的销量很可能会超过13万辆，因为交付量应该会继续连续攀升。就交付量而言，Lucid目前的规模要小得多，因为该公司今年可能已售出数百辆汽车。明年，Lucid Group的目标是交付约20,000辆汽车，比2021年增长很多，但与蔚来和许多其他同行明年的交付量相比，这个数字仍然相对较小。</blockquote></p><p><b>LCID Vs. NIO&#39;s Past Quarterly Performance</b></p><p><blockquote><b>LCID与蔚来过去的季度表现</b></blockquote></p><p>As noted above, NIO&#39;s sales performance was way stronger than that of Lucid over the last three months, but that was hardly a surprise as LCID just began delivering vehicles to customers. On a share price basis, however, Lucid fared better:</p><p><blockquote>如上所述，蔚来过去三个月的销售业绩远强于Lucid，但这并不奇怪，因为LCID刚刚开始向客户交付车辆。然而，从股价来看，Lucid的表现更好：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a7a6e7cb1b1485f32cc25ade9f387a5b\" tg-width=\"635\" tg-height=\"433\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Over the last three months, LCID is up close to 50%, whereas NIO saw its shares drop by close to 20% over the same time frame. In NIO&#39;s case, macro worries about Chinese regulation played a role, whereas LCID benefitted a lot from growing enthusiasm for US-based EV players caused by Rivian&#39;s (RIVN) huge IPO success. On top of that, the start of deliveries also attracted new investors to Lucid&#39;s stock. If analysts are correct, NIO is the much better value today:</p><p><blockquote>过去三个月，LCID上涨了近50%，而蔚来的股价同期下跌了近20%。就蔚来而言，对中国监管的宏观担忧发挥了作用，而LCID则从Rivian(RIVN)IPO的巨大成功引发的对美国电动汽车企业日益增长的热情中受益匪浅。最重要的是，交付的开始也吸引了新投资者购买Lucid的股票。如果分析师是正确的，那么蔚来今天的价值要高得多：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b1d0939d657b284e25d8447ccb211b5\" tg-width=\"635\" tg-height=\"481\" referrerpolicy=\"no-referrer\"/><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p>Shares are trading at less than half the consensus price target, which implies 100%+ upside over the next year, whereas LCID is trading almost perfectly in line with the current consensus price target - which implies no upside over the next year. NIO&#39;s underperformance over the last quarter thus seems to position the company well for a strong performance from the current level, whereas the same can&#39;t be said about Lucid.</p><p><blockquote>该股的交易价格不到共识价格目标的一半，这意味着明年有100%以上的上涨空间，而LCID的交易价格几乎完全符合当前的共识价格目标，这意味着明年没有上涨空间。因此，蔚来上个季度的表现不佳似乎使该公司在当前水平上表现强劲，而Lucid则不然。</blockquote></p><p><b>Lucid Vs. NIO Key Metrics</b></p><p><blockquote><b>Lucid与蔚来关键指标</b></blockquote></p><p></p><p>Let&#39;s take a deeper look at the tech of the two companies, as well as at their branding, and their specific key risks. Both NIO and Lucid are active in the high-end segment of the EV industry, selling vehicles with ASPs well north of the average Tesla. NIO&#39;s ASP is around $70,000, and Lucid&#39;s ASP is even higher than that for now, as the company is selling the most expensive Air<i>Dream</i>version first. Tesla, the current EV leader, has an ASP of around $50,000. Both NIO and Tesla are thus operating in a more luxurious, higher-end segment of the market compared to Tesla. How are these companies able to demand way higher ASPs than Tesla? There are several factors at play, including branding, but one of the most important factors is their great tech.</p><p><blockquote>让我们更深入地了解这两家公司的技术、品牌及其具体的主要风险。蔚来和Lucid都活跃在电动汽车行业的高端领域，销售的汽车平均售价远高于特斯拉的平均水平。蔚来的平均售价约为7万美元，Lucid的平均售价目前甚至更高，因为该公司销售的是最昂贵的Air<i>梦想</i>版本优先。特斯拉是目前电动汽车的领导者，其平均售价约为5万美元。因此，与特斯拉相比，蔚来和特斯拉都在更豪华、更高端的细分市场运营。这些公司怎么能要求比特斯拉高得多的平均售价呢？有几个因素在起作用，包括品牌，但最重要的因素之一是他们出色的技术。</blockquote></p><p>NIO&#39;s battery-swapping technology, for example, allows its customers to fully &#34;recharge&#34; in a couple of minutes, while most other EVs take way longer to fully charge. Lucid doesn&#39;t employ battery-swapping, but its racing-tested 900V technology allows for both a huge range as well as for fast charging speeds - Lucid&#39;s architecture allows customers to charge up to 300 miles worth of energy in just 20 minutes. The Tesla S, for reference, uses a ~400V architecture that allows customers to recharge 200 miles in 15 minutes. Clearly, both NIO&#39;s solution, as well as Lucid&#39;s solution, seem superior compared to what Tesla is offering.</p><p><blockquote>例如，蔚来的电池交换技术允许其客户在几分钟内充满“充电”，而大多数其他电动汽车需要更长的时间才能充满电。Lucid不采用电池更换，但其经过赛车测试的900V技术既可以实现巨大的续航里程，又可以实现快速充电速度——Lucid的架构允许客户在短短20分钟内充电长达300英里的电量。作为参考，特斯拉S采用约400V架构，允许客户在15分钟内充电200英里。显然，蔚来的解决方案和Lucid的解决方案似乎都优于特斯拉提供的解决方案。</blockquote></p><p>NIO&#39;s and Lucid&#39;s tech also looks highly competitive when it comes to their respective batteries. The Lucid Air Dream has an EPA range of 520 miles, which should be sufficient for almost all use cases. NIO has a larger product portfolio compared to Lucid, but when we take a look at its top-end sedan, battery performance looks even better. The NIO ET7, with a 150kWh battery (smaller options are available, too), has a range of up to 1,000km, which equates to around 620 miles of range. Again, both NIO and Lucid perform well compared to Tesla - the flagship S Plaid has an EPA range of 350 miles. Thanks to its experience in developing and supplying racing engines for electric race cars, Lucid crafts an especially efficient engine:</p><p><blockquote>蔚来和Lucid的技术在各自的电池方面看起来也很有竞争力。Lucid Air Dream的EPA续航里程为520英里，对于几乎所有用例来说都足够了。与Lucid相比，蔚来拥有更大的产品组合，但当我们看看它的高端轿车时，电池性能看起来甚至更好。蔚来ET7配备150kWh电池（也有更小的选择），续航里程可达1,000公里，相当于约620英里的续航里程。同样，与特斯拉相比，蔚来和Lucid的表现都很好——旗舰S Plaid的EPA续航里程为350英里。凭借其在为电动赛车开发和供应赛车发动机方面的经验，Lucid制造了一款特别高效的发动机：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/edf92a9709beceb826f2e86b3bc25dd6\" tg-width=\"1502\" tg-height=\"829\" referrerpolicy=\"no-referrer\"/><span>Source: Lucid presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Lucid演示</span></p></blockquote></p><p>A smaller, more efficient engine results in lower resource usage and reduces the weight of the vehicle, all else equal. This does, in turn, lead to a longer range, and it also allows for better handling and driving performance, all else equal. Lucid is by far not the biggest EV player today, but its engineers have developed some of the most compelling products and solutions among all currently active EV players.</p><p><blockquote>在其他条件相同的情况下，更小、更高效的发动机可以降低资源使用量并减轻车辆重量。反过来，这确实会带来更长的续航里程，并且在其他条件相同的情况下，还可以实现更好的操控和驾驶性能。到目前为止，Lucid还不是当今最大的电动汽车参与者，但其工程师已经开发出了一些目前所有活跃的电动汽车参与者中最引人注目的产品和解决方案。</blockquote></p><p>NIO puts a lot of focus on technologies that will eventually allow for autonomous driving and puts massive numbers of sensors and huge computing power in its vehicles today. The ET7 uses the following sensing units for that goal:</p><p><blockquote>蔚来非常关注最终实现自动驾驶的技术，并在当今的车辆中安装了大量传感器和巨大的计算能力。ET7使用以下传感单元来实现此目标：</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b39530a306d0b27d76d36bccec0e147d\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"/><span>Source: NIO</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：蔚来</span></p></blockquote></p><p>With 33 sensors that use up to 8MP, NIO&#39;s sensing capabilities easily blow away those of Tesla. The Tesla Model 3, which is, according to CEO Musk, ready for full-self-driving, only uses 8 cameras with 1.2MP each. One of NIO&#39;s sensors in the ET7 thus has almost as much sensing performance as all of the cameras in the M3 combined - and NIO uses 32 additional sensors in its model. Clearly, NIO&#39;s offering is superior - and that obviously comes at a price, as NIO is not skimping when it comes to putting the best tech in its vehicles. This is also showcased by the massive processing power of the chips NIO uses in the ET7. The ET7 uses four NVIDIA (NVDA) Orin SoCs, each of which offers slightly more than 250 trillion operations per second, which makes for combined computing power of more than 1,000 TOPS - unheard of in any production vehicle. Using four SoCs at the same time also provides for the redundancy that is required for critical systems in a self-driving scenario. it should be noted that NIO&#39;s self-driving tech is not as excellent on the software side - yet. At least for now, peers such as XPeng (XPEV) seem to employ the stronger algorithms, but that is a problem that NIO can solve over the coming quarters and years, and integrating future software in its vehicles that come with top-notch hardware shouldn&#39;t be a very difficult task. Lucid&#39;s self-driving tech, even though it doesn&#39;t get a lot of recognition yet, is not looking bad at all, either. The DreamDrive suite utilizes 32 onboard sensors, almost on par with NIO&#39;s Aquila system (and 4x more sensors compared to the M3, which is allegedly L5 ready from a hardware perspective).</p><p><blockquote>凭借33个高达800万像素的传感器，蔚来的传感能力轻松击败了特斯拉。据首席执行官马斯克称，特斯拉Model 3已准备好实现全自动驾驶，仅使用8个摄像头，每个摄像头为120万像素。因此，ET7中蔚来的一个传感器的传感性能几乎相当于M3中所有摄像头的总和，而蔚来在其车型中使用了32个额外的传感器。显然，蔚来的产品是优越的——这显然是有代价的，因为蔚来在将最好的技术应用到其车辆中时并不吝啬。蔚来在ET7中使用的芯片的巨大处理能力也证明了这一点。ET7使用四个NVIDIA(NVDA)Orin SoC，每个SoC每秒提供略高于250万亿次运算，总计算能力超过1,000 TOPS，这在任何量产车中都是闻所未闻的。同时使用四个SoC还可以提供自动驾驶场景中关键系统所需的冗余。应该指出的是，蔚来的自动驾驶技术在软件方面还没有那么出色。至少目前，小鹏汽车（XPEV）等同行似乎采用了更强大的算法，但这是蔚来可以在未来几个季度和几年内解决的问题，并将未来的软件集成到配备顶级硬件的车辆中不应该是一项非常困难的任务。Lucid的自动驾驶技术尽管尚未得到太多认可，但看起来也一点也不差。DreamDrive套件使用32个板载传感器，几乎与蔚来的Aquila系统相当（与M3相比，传感器多4倍，据称从硬件角度来看，M3已准备好L5）。</blockquote></p><p></p><p>Strong tech alone doesn&#39;t make for an attractive vehicle, however, as design, manufacturing quality, etc. have to be considered as well. Luckily, both NIO and Lucid compete very well on that basis, although the data on Lucid is still limited due to the low sales numbers - not too many people have driven a Lucid Air yet, thus data about reliability, etc. is limited. NIO, however, has been selling thousands of vehicles a month for quite some time, and its users are very satisfied with the vehicles&#39; quality. CnTechPost reports that J.D. Power has rated NIO the highest-quality EV company in China, ahead of Tesla. Lucid is not active in the country yet, but test drives by a wide range of auto journalists and magazines have generally resulted in very positive reviews. Both NIO and Lucid thus look strong from a design, quality, and tech perspective, with NIO putting more focus on customer-friendly items such as battery-swapping and driving assistance, whereas Lucid puts more focus on engine performance, battery tech, etc. Both avenues have their advantages, but I personally could see NIO benefit more from its easy-to-use, customer-friendly approach, as not too many people will buy an EV based on criteria such as the battery architecture. Still, Lucid&#39;s ability to develop high-performing vehicles should come in very handy in the highly competitive EV industry going forward.</p><p><blockquote>然而，仅靠强大的技术并不能造就一辆有吸引力的汽车，因为设计、制造质量等也必须考虑在内。幸运的是，蔚来和Lucid在此基础上竞争非常好，尽管由于销量较低，Lucid的数据仍然有限——还没有太多人驾驶过Lucid Air，因此有关可靠性等的数据有限。然而，蔚来已经有一段时间每月销售数千辆汽车，并且其用户对车辆的质量非常满意。CnTechPost报道J.D。Power将蔚来评为国内质量最高的电动汽车公司，领先于特斯拉。Lucid在该国尚未活跃，但众多汽车记者和杂志的试驾普遍获得了非常积极的评价。因此，从设计、质量和技术的角度来看，蔚来和Lucid看起来都很强大，蔚来更关注电池更换和驾驶辅助等客户友好型项目，而Lucid则更关注发动机性能、电池技术等。这两种途径都有其优势，但我个人认为蔚来从其易于使用、客户友好的方法中受益更多，因为没有太多人会根据电池架构等标准购买电动汽车。尽管如此，Lucid开发高性能汽车的能力在未来竞争激烈的电动汽车行业应该会非常方便。</blockquote></p><p>With NIO, the main risk the market seems to worry about now is regulation/politics. I personally do not believe that regulation will be a huge risk for NIO. Chinese companies never were able to compete successfully in the ICE vehicle space, but with EV technologies bringing change to the entire global automobile industry, China saw its chance to become a global automobile powerhouse. Hurting NIO and other Chinese EV players would run contrary to those goals, which is why I believe that China is more interested in nurturing its own EV players, including NIO, instead of hurting them. Still, the market puts a discount on every Chinese company today, and that holds true for NIO as well - which might be a good thing for those seeking to buy into the company at a below-average valuation.</p><p><blockquote>对于蔚来，市场现在担心的主要风险似乎是监管/政治。我个人不认为监管会给蔚来带来巨大风险。中国公司从未能够在内燃机汽车领域成功竞争，但随着电动汽车技术给整个全球汽车行业带来变革，中国看到了成为全球汽车强国的机会。伤害蔚来和其他中国电动汽车企业将与这些目标背道而驰，这就是为什么我认为中国更有兴趣培养自己的电动汽车企业，包括蔚来，而不是伤害他们。尽管如此，如今市场对每家中国公司都给予了折扣，蔚来也是如此——这对于那些寻求以低于平均水平的估值买入该公司的人来说可能是一件好事。</blockquote></p><p>For Lucid, regulation doesn&#39;t seem like an important risk. Instead, the main risks here are the high valuation and the production ramp. As Tesla has shown, ramping up vehicle production is no easy task. The company oftentimes had to battle with delays and other issues, sometimes summarized as &#34;Production Hell&#34;. The same could hold true for Lucid, which will have to ramp up production at a high speed in the coming months and quarters in order to meet its ambitious production goals. It&#39;s not a certainty that it will experience similar issues to other manufacturers, of course, but due to a lack of experience, this seems a considerable risk worth keeping an eye on. On top of that, LCID&#39;s high valuation could be a considerable risk - shares trade at around 30x next year&#39;s expected revenue, and there is no guarantee at all that those revenues will actually be generated.</p><p><blockquote>对于Lucid来说，监管似乎并不是一个重要的风险。相反，这里的主要风险是高估值和产量增加。正如特斯拉所表明的那样，提高汽车产量并不是一件容易的事。该公司经常不得不与延误和其他问题作斗争，有时被总结为“生产地狱”。Lucid可能也是如此，该公司将不得不在未来几个月和几个季度高速提高产量，以实现其雄心勃勃的生产目标。当然，不能确定它会遇到与其他制造商类似的问题，但由于缺乏经验，这似乎是一个值得关注的相当大的风险。最重要的是，LCID的高估值可能是一个相当大的风险——股票交易价格约为明年预期收入的30倍，而且根本不能保证这些收入会真正产生。</blockquote></p><p><b>Is Lucid Or NIO Stock The Better Buy?</b></p><p><blockquote><b>Lucid或蔚来股票更值得购买吗？</b></blockquote></p><p>Both NIO and Lucid have attractive products that seem highly competitive in the EV market that is seeing more and more entrants. I do believe that both companies will have operational success over the coming years, driven by strong tech, attractive brands, and compelling product quality. Operational growth does not necessarily result in share price growth, however, as valuations can be a major hurdle when one buys at a price that is too high.</p><p><blockquote>蔚来和Lucid都拥有有吸引力的产品，这些产品在越来越多进入者的电动汽车市场中似乎极具竞争力。我确实相信，在强大的技术、有吸引力的品牌和引人注目的产品质量的推动下，两家公司将在未来几年取得运营成功。然而，运营增长并不一定会导致股价增长，因为当人们以过高的价格买入时，估值可能会成为一个主要障碍。</blockquote></p><p>In NIO&#39;s case, that does not seem like an overly large risk, as shares are inexpensive relative to how other EV players are valued - NIO trades at ~4x next year&#39;s expected revenue, which represents a clear discount compared to LCID, RIVN, TSLA, and so on. Lucid, on the other hand, is trading at a very premium valuation of 30x next year&#39;s sales.</p><p><blockquote>就蔚来而言，这似乎并不是一个过大的风险，因为相对于其他电动汽车公司的估值而言，其股价并不昂贵——蔚来的交易价格约为明年预期收入的4倍，与LCID、RIVN、TSLA相比有明显的折扣，等等。另一方面，Lucid的估值非常高，是明年销售额的30倍。</blockquote></p><p>I do believe that, based on its larger size, more established operations, better progress in ramping production, and due to its much more reasonable valuation, NIO is the better pick among these two today.The recent share price decline makes for an attractive entry point for those interested in owning this top-notch Chinese EV player.</p><p><blockquote>我确实相信，基于其更大的规模、更成熟的业务、更好的增产进展，以及更合理的估值，蔚来是当今这两家公司中更好的选择。对于那些有兴趣拥有这家顶级中国电动汽车公司的人来说，最近的股价下跌是一个有吸引力的切入点。</blockquote></p><p></body></html></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4477181-lucid-vs-nio-stock-better-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":{"LCID":"Lucid Group Inc","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4477181-lucid-vs-nio-stock-better-buy","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139674064","content_text":"SummaryThe EV market is getting ever more competitive. Owning strong brands or tech will be important for companies to differentiate themselves from others.Both NIO and LCID have strong brands and great tech, which allow them to demand high ASPs.NIO seems like the lower-risk choice among these two, and due to being a lot farther along from a production ramp perspective, it is, I believe, the better choice today.Trygve Finkelsen/iStock Editorial via Getty ImagesArticle ThesisThe EV space has brought up many companies that do not seem too viable in the long run, but there are also strong contenders apart from Tesla (TSLA). In this report, we'll pit Lucid Group, Inc. (LCID) and NIO Inc. (NIO) against each other - two of the most interesting EV players that combine strong brands and high-end technological capabilities. In this report, we'll take a deeper dive into the tech and product side and will look at individual risks for both companies. Overall, I do believe that NIO is the more attractive choice among these two at current prices.Lucid And NIO In The EV MarketThe global EV market has been growing rapidly, with EV sales likely coming in a little north of six million, which is roughly twice as high as during the previous year. Clearly, EVs are a huge growth sector in the global automobile market, although it should be noted that most vehicles sold around the world are still powered by internal combustion engines. Over the years, EV market share should continue to climb rapidly, but it is not looking like EVs will dominate ICE vehicles any time soon.The market leaders in the EV space are Tesla and BYD (OTCPK:BYDDY), and, depending on how one counts plug-in hybrids, Volkswagen (OTCPK:VWAGY). NIO Inc. and Lucid Group, Inc. are not among the largest companies for now. NIO is selling around 11,000 vehicles a month right now, which translates into a ~130,000 annual sales pace. Sales have been growing quickly, however, which is why NIO will most likely sell more than 130,000 vehicles next year, as deliveries should continue to climb sequentially. Lucid is way smaller for now, in terms of deliveries, as the company has likely sold a couple of hundred vehicles this year. Next year, Lucid Group targets deliveries of around 20,000 vehicles - up by a lot versus 2021, but still a relatively small number compared to the deliveries NIO and many other peers will hit next year.LCID Vs. NIO's Past Quarterly PerformanceAs noted above, NIO's sales performance was way stronger than that of Lucid over the last three months, but that was hardly a surprise as LCID just began delivering vehicles to customers. On a share price basis, however, Lucid fared better:Data by YChartsOver the last three months, LCID is up close to 50%, whereas NIO saw its shares drop by close to 20% over the same time frame. In NIO's case, macro worries about Chinese regulation played a role, whereas LCID benefitted a lot from growing enthusiasm for US-based EV players caused by Rivian's (RIVN) huge IPO success. On top of that, the start of deliveries also attracted new investors to Lucid's stock. If analysts are correct, NIO is the much better value today:Data by YChartsShares are trading at less than half the consensus price target, which implies 100%+ upside over the next year, whereas LCID is trading almost perfectly in line with the current consensus price target - which implies no upside over the next year. NIO's underperformance over the last quarter thus seems to position the company well for a strong performance from the current level, whereas the same can't be said about Lucid.Lucid Vs. NIO Key MetricsLet's take a deeper look at the tech of the two companies, as well as at their branding, and their specific key risks. Both NIO and Lucid are active in the high-end segment of the EV industry, selling vehicles with ASPs well north of the average Tesla. NIO's ASP is around $70,000, and Lucid's ASP is even higher than that for now, as the company is selling the most expensive AirDreamversion first. Tesla, the current EV leader, has an ASP of around $50,000. Both NIO and Tesla are thus operating in a more luxurious, higher-end segment of the market compared to Tesla. How are these companies able to demand way higher ASPs than Tesla? There are several factors at play, including branding, but one of the most important factors is their great tech.NIO's battery-swapping technology, for example, allows its customers to fully \"recharge\" in a couple of minutes, while most other EVs take way longer to fully charge. Lucid doesn't employ battery-swapping, but its racing-tested 900V technology allows for both a huge range as well as for fast charging speeds - Lucid's architecture allows customers to charge up to 300 miles worth of energy in just 20 minutes. The Tesla S, for reference, uses a ~400V architecture that allows customers to recharge 200 miles in 15 minutes. Clearly, both NIO's solution, as well as Lucid's solution, seem superior compared to what Tesla is offering.NIO's and Lucid's tech also looks highly competitive when it comes to their respective batteries. The Lucid Air Dream has an EPA range of 520 miles, which should be sufficient for almost all use cases. NIO has a larger product portfolio compared to Lucid, but when we take a look at its top-end sedan, battery performance looks even better. The NIO ET7, with a 150kWh battery (smaller options are available, too), has a range of up to 1,000km, which equates to around 620 miles of range. Again, both NIO and Lucid perform well compared to Tesla - the flagship S Plaid has an EPA range of 350 miles. Thanks to its experience in developing and supplying racing engines for electric race cars, Lucid crafts an especially efficient engine:Source: Lucid presentationA smaller, more efficient engine results in lower resource usage and reduces the weight of the vehicle, all else equal. This does, in turn, lead to a longer range, and it also allows for better handling and driving performance, all else equal. Lucid is by far not the biggest EV player today, but its engineers have developed some of the most compelling products and solutions among all currently active EV players.NIO puts a lot of focus on technologies that will eventually allow for autonomous driving and puts massive numbers of sensors and huge computing power in its vehicles today. The ET7 uses the following sensing units for that goal:Source: NIOWith 33 sensors that use up to 8MP, NIO's sensing capabilities easily blow away those of Tesla. The Tesla Model 3, which is, according to CEO Musk, ready for full-self-driving, only uses 8 cameras with 1.2MP each. One of NIO's sensors in the ET7 thus has almost as much sensing performance as all of the cameras in the M3 combined - and NIO uses 32 additional sensors in its model. Clearly, NIO's offering is superior - and that obviously comes at a price, as NIO is not skimping when it comes to putting the best tech in its vehicles. This is also showcased by the massive processing power of the chips NIO uses in the ET7. The ET7 uses four NVIDIA (NVDA) Orin SoCs, each of which offers slightly more than 250 trillion operations per second, which makes for combined computing power of more than 1,000 TOPS - unheard of in any production vehicle. Using four SoCs at the same time also provides for the redundancy that is required for critical systems in a self-driving scenario. it should be noted that NIO's self-driving tech is not as excellent on the software side - yet. At least for now, peers such as XPeng (XPEV) seem to employ the stronger algorithms, but that is a problem that NIO can solve over the coming quarters and years, and integrating future software in its vehicles that come with top-notch hardware shouldn't be a very difficult task. Lucid's self-driving tech, even though it doesn't get a lot of recognition yet, is not looking bad at all, either. The DreamDrive suite utilizes 32 onboard sensors, almost on par with NIO's Aquila system (and 4x more sensors compared to the M3, which is allegedly L5 ready from a hardware perspective).Strong tech alone doesn't make for an attractive vehicle, however, as design, manufacturing quality, etc. have to be considered as well. Luckily, both NIO and Lucid compete very well on that basis, although the data on Lucid is still limited due to the low sales numbers - not too many people have driven a Lucid Air yet, thus data about reliability, etc. is limited. NIO, however, has been selling thousands of vehicles a month for quite some time, and its users are very satisfied with the vehicles' quality. CnTechPost reports that J.D. Power has rated NIO the highest-quality EV company in China, ahead of Tesla. Lucid is not active in the country yet, but test drives by a wide range of auto journalists and magazines have generally resulted in very positive reviews. Both NIO and Lucid thus look strong from a design, quality, and tech perspective, with NIO putting more focus on customer-friendly items such as battery-swapping and driving assistance, whereas Lucid puts more focus on engine performance, battery tech, etc. Both avenues have their advantages, but I personally could see NIO benefit more from its easy-to-use, customer-friendly approach, as not too many people will buy an EV based on criteria such as the battery architecture. Still, Lucid's ability to develop high-performing vehicles should come in very handy in the highly competitive EV industry going forward.With NIO, the main risk the market seems to worry about now is regulation/politics. I personally do not believe that regulation will be a huge risk for NIO. Chinese companies never were able to compete successfully in the ICE vehicle space, but with EV technologies bringing change to the entire global automobile industry, China saw its chance to become a global automobile powerhouse. Hurting NIO and other Chinese EV players would run contrary to those goals, which is why I believe that China is more interested in nurturing its own EV players, including NIO, instead of hurting them. Still, the market puts a discount on every Chinese company today, and that holds true for NIO as well - which might be a good thing for those seeking to buy into the company at a below-average valuation.For Lucid, regulation doesn't seem like an important risk. Instead, the main risks here are the high valuation and the production ramp. As Tesla has shown, ramping up vehicle production is no easy task. The company oftentimes had to battle with delays and other issues, sometimes summarized as \"Production Hell\". The same could hold true for Lucid, which will have to ramp up production at a high speed in the coming months and quarters in order to meet its ambitious production goals. It's not a certainty that it will experience similar issues to other manufacturers, of course, but due to a lack of experience, this seems a considerable risk worth keeping an eye on. On top of that, LCID's high valuation could be a considerable risk - shares trade at around 30x next year's expected revenue, and there is no guarantee at all that those revenues will actually be generated.Is Lucid Or NIO Stock The Better Buy?Both NIO and Lucid have attractive products that seem highly competitive in the EV market that is seeing more and more entrants. I do believe that both companies will have operational success over the coming years, driven by strong tech, attractive brands, and compelling product quality. Operational growth does not necessarily result in share price growth, however, as valuations can be a major hurdle when one buys at a price that is too high.In NIO's case, that does not seem like an overly large risk, as shares are inexpensive relative to how other EV players are valued - NIO trades at ~4x next year's expected revenue, which represents a clear discount compared to LCID, RIVN, TSLA, and so on. Lucid, on the other hand, is trading at a very premium valuation of 30x next year's sales.I do believe that, based on its larger size, more established operations, better progress in ramping production, and due to its much more reasonable valuation, NIO is the better pick among these two today.The recent share price decline makes for an attractive entry point for those interested in owning this top-notch Chinese EV player.","news_type":1,"symbols_score_info":{"LCID":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":2137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693532007,"gmtCreate":1640048437744,"gmtModify":1640048437859,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693532007","repostId":"2193761136","repostType":4,"isVote":1,"tweetType":1,"viewCount":2249,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":182788973,"gmtCreate":1623618482992,"gmtModify":1631888921114,"author":{"id":"3577091643764482","authorId":"3577091643764482","name":"ew1202","avatar":"https://static.tigerbbs.com/39fd4df438885b50c79f4ae10e1a8ed0","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577091643764482","authorIdStr":"3577091643764482"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CLN.SI\">$APAC REALTY LIMITED(CLN.SI)$</a>[微笑]&nbsp;","listText":"<a href=\"https://laohu8.com/S/CLN.SI\">$APAC REALTY LIMITED(CLN.SI)$</a>[微笑]&nbsp;","text":"$APAC REALTY LIMITED(CLN.SI)$[微笑]","images":[{"img":"https://static.tigerbbs.com/b97a50c90d0d28e392fae842f9b12f69","width":"1200","height":"2133"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182788973","isVote":1,"tweetType":1,"viewCount":666,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"lives":[]}