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2021-06-17

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2021-06-16

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2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>

2021-06-16

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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>

2021-06-17

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2021-06-21

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2021-06-18

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Palantir: The Untold Truth<blockquote>Palantir：不为人知的真相</blockquote>

2021-06-16

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2021-07-23

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2021-07-18

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2021-07-10

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pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/176735024","repostId":"1165060575","repostType":4,"repost":{"id":"1165060575","kind":"news","pubTimestamp":1626914267,"share":"https://www.laohu8.com/m/news/1165060575?lang=zh_CN&edition=full","pubTime":"2021-07-22 08:37","market":"us","language":"en","title":"Altice's adtech firm Teads targets $5 billion valuation in U.S. IPO<blockquote>Altice旗下广告科技公司Teads美国IPO估值目标为50亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165060575","media":"Reuters","summary":"(Reuters) -Advertising technology company Teads BV, owned by French telecom company Altice, said on ","content":"<p>(Reuters) -Advertising technology company Teads BV, owned by French telecom company Altice, said on Wednesday it aims to raise up to $808.5 million through an initial public offering on the Nasdaq at a valuation of about $5 billion.</p><p><blockquote>（路透社）-法国电信公司Altice旗下的广告技术公司Teads BV周三表示，计划通过在纳斯达克的首次公开募股筹集至多8.085亿美元，估值约为50亿美元。</blockquote></p><p> The company's existing shareholders plan to sell 38.5 million shares in the IPO, at a price range of $18 to $21 each, after which Altice would hold majority voting rights.</p><p><blockquote>该公司现有股东计划在IPO中出售3850万股股票，每股价格区间为18至21美元，之后Altice将持有多数投票权。</blockquote></p><p> Founded in 2011, Teads provides automated buying and selling of online advertising space, a technology that is fast gaining popularity, to clients including Adidas, Danone SA, Vice Media and BBC Global News.</p><p><blockquote>Teads成立于2011年，为阿迪达斯、达能SA、Vice Media和BBC Global News等客户提供在线广告空间的自动买卖，这是一项迅速流行的技术。</blockquote></p><p> The company, whose platform reaches 1.9 billion users globally, was acquired by Altice in 2017 in an all-cash deal that valued Teads at around 285 million euros ($337.35 million).</p><p><blockquote>该公司的平台在全球拥有19亿用户，于2017年被Altice以全现金交易收购，Teads的估值约为2.85亿欧元（3.3735亿美元）。</blockquote></p><p> Other adtech companies that made their market debuts in recent months include Integral Ad Science Holding Corp and Viant Technology Inc.</p><p><blockquote>最近几个月上市的其他广告技术公司包括Integral Ad Science Holding Corp和Viant Technology Inc.。</blockquote></p><p> Teads earned a profit of $111.5 million on revenue of $540.3 million in the year ended Dec. 31, 2020, its filing showed. The company said its revenue grew 6% annually despite the negative impact of COVID-19 in the first half of last year.</p><p><blockquote>Teads的文件显示，截至2020年12月31日的财年，收入为5.403亿美元，利润为1.115亿美元。该公司表示，尽管去年上半年受到COVID-19的负面影响，但其收入每年仍增长6%。</blockquote></p><p> Goldman Sachs, Morgan Stanley and JP Morgan are the lead underwriters for the offering. Teads said it would be listed under the symbol \"TEAD\".</p><p><blockquote>高盛、摩根士丹利和摩根大通是此次发行的主承销商。Teads表示，它将以“TEAD”为符号上市。</blockquote></p><p></p>","source":"lsy1612507957220","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>Altice's adtech firm Teads targets $5 billion valuation in U.S. IPO<blockquote>Altice旗下广告科技公司Teads美国IPO估值目标为50亿美元</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\">\nAltice's adtech firm Teads targets $5 billion valuation in U.S. IPO<blockquote>Altice旗下广告科技公司Teads美国IPO估值目标为50亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Reuters</strong><span class=\"h-time small\">2021-07-22 08:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Reuters) -Advertising technology company Teads BV, owned by French telecom company Altice, said on Wednesday it aims to raise up to $808.5 million through an initial public offering on the Nasdaq at a valuation of about $5 billion.</p><p><blockquote>（路透社）-法国电信公司Altice旗下的广告技术公司Teads BV周三表示，计划通过在纳斯达克的首次公开募股筹集至多8.085亿美元，估值约为50亿美元。</blockquote></p><p> The company's existing shareholders plan to sell 38.5 million shares in the IPO, at a price range of $18 to $21 each, after which Altice would hold majority voting rights.</p><p><blockquote>该公司现有股东计划在IPO中出售3850万股股票，每股价格区间为18至21美元，之后Altice将持有多数投票权。</blockquote></p><p> Founded in 2011, Teads provides automated buying and selling of online advertising space, a technology that is fast gaining popularity, to clients including Adidas, Danone SA, Vice Media and BBC Global News.</p><p><blockquote>Teads成立于2011年，为阿迪达斯、达能SA、Vice Media和BBC Global News等客户提供在线广告空间的自动买卖，这是一项迅速流行的技术。</blockquote></p><p> The company, whose platform reaches 1.9 billion users globally, was acquired by Altice in 2017 in an all-cash deal that valued Teads at around 285 million euros ($337.35 million).</p><p><blockquote>该公司的平台在全球拥有19亿用户，于2017年被Altice以全现金交易收购，Teads的估值约为2.85亿欧元（3.3735亿美元）。</blockquote></p><p> Other adtech companies that made their market debuts in recent months include Integral Ad Science Holding Corp and Viant Technology Inc.</p><p><blockquote>最近几个月上市的其他广告技术公司包括Integral Ad Science Holding Corp和Viant Technology Inc.。</blockquote></p><p> Teads earned a profit of $111.5 million on revenue of $540.3 million in the year ended Dec. 31, 2020, its filing showed. The company said its revenue grew 6% annually despite the negative impact of COVID-19 in the first half of last year.</p><p><blockquote>Teads的文件显示，截至2020年12月31日的财年，收入为5.403亿美元，利润为1.115亿美元。该公司表示，尽管去年上半年受到COVID-19的负面影响，但其收入每年仍增长6%。</blockquote></p><p> Goldman Sachs, Morgan Stanley and JP Morgan are the lead underwriters for the offering. Teads said it would be listed under the symbol \"TEAD\".</p><p><blockquote>高盛、摩根士丹利和摩根大通是此次发行的主承销商。Teads表示，它将以“TEAD”为符号上市。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/altices-ad-tech-firm-teads-101911299.html\">Reuters</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/altices-ad-tech-firm-teads-101911299.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165060575","content_text":"(Reuters) -Advertising technology company Teads BV, owned by French telecom company Altice, said on Wednesday it aims to raise up to $808.5 million through an initial public offering on the Nasdaq at a valuation of about $5 billion.\nThe company's existing shareholders plan to sell 38.5 million shares in the IPO, at a price range of $18 to $21 each, after which Altice would hold majority voting rights.\nFounded in 2011, Teads provides automated buying and selling of online advertising space, a technology that is fast gaining popularity, to clients including Adidas, Danone SA, Vice Media and BBC Global News.\nThe company, whose platform reaches 1.9 billion users globally, was acquired by Altice in 2017 in an all-cash deal that valued Teads at around 285 million euros ($337.35 million).\nOther adtech companies that made their market debuts in recent months include Integral Ad Science Holding Corp and Viant Technology Inc.\nTeads earned a profit of $111.5 million on revenue of $540.3 million in the year ended Dec. 31, 2020, its filing showed. The company said its revenue grew 6% annually despite the negative impact of COVID-19 in the first half of last year.\nGoldman Sachs, Morgan Stanley and JP Morgan are the lead underwriters for the offering. Teads said it would be listed under the symbol \"TEAD\".","news_type":1,"symbols_score_info":{".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":176046608,"gmtCreate":1626849383304,"gmtModify":1633770421886,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/176046608","repostId":"1165880037","repostType":4,"repost":{"id":"1165880037","kind":"news","pubTimestamp":1626846705,"share":"https://www.laohu8.com/m/news/1165880037?lang=zh_CN&edition=full","pubTime":"2021-07-21 13:51","market":"us","language":"en","title":"ASML Holding EPS beats by €0.03, misses on revenue<blockquote>ASML控股EPS超过预期0.03欧元，营收不及预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165880037","media":"Seeking Alpha","summary":"ASML Holding NV: Q2 GAAP EPS of €2.52beats by €0.03.\nRevenue of €4B (+20.1% Y/Y) misses by €120M.\nQ2","content":"<p><ul>  <li><b><a href=\"https://laohu8.com/S/ASML\">ASML Holding NV</a></b>: Q2 GAAP EPS of €2.52beats by €0.03.</li>  <li>Revenue of €4B (+20.1% Y/Y)&nbsp;misses by €120M.</li>  <li>Q2 net bookings of €8.3 billion</li>  <li>ASML announces a new share buyback program of up to €9 billion to be executed by December 31, 2023.</li>  <li>\"Our second-quarter net sales came in at €4.0 billion, which is within our guidance. The gross margin came in at 50.9%, above our guidance, which is mainly due to higher revenue in software upgrades as customers want to increase capacity quickly, as well as one-off revenue accounting releases. Our second-quarter net bookings came in at €8.3 billion, including €4.9 billion from EUV systems, bringing the total backlog at €17.5 billion,\"&nbsp;said ASML President and Chief Executive Officer&nbsp;Peter Wennink.</li>  <li><b>Guidance:</b>&nbsp;The company expects third-quarter net sales between €5.2 billion and €5.4 billion with a gross margin between 51% and 52%, R&amp;D costs of around €645 million and SG&amp;A costs of around €180 million. The estimated annualized effective tax rate is expected to be around 15% for 2021.</li> </ul></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/ASML\">ASML控股公司</a></b>：第二季度GAAP每股收益为2.52欧元，超出0.03欧元。</li><li>收入为40亿欧元（同比增长20.1%）低于预期1.2亿欧元。</li><li>第二季度净预订量为83亿欧元</li><li>ASML宣布一项高达90亿欧元的新股票回购计划，将于2023年12月31日执行。</li><li>“我们第二季度的净销售额为40亿欧元，在我们的指导范围内。毛利率为50.9%，高于我们的指导，这主要是由于客户希望快速增加产能，软件升级收入增加，以及一次性收入会计发布。我们第二季度的净预订量为83亿欧元，其中包括来自EUV systems的49亿欧元，使积压订单总额达到175亿欧元，”ASML总裁兼首席执行官Peter Wennink说道。</li><li><b>指导意见：</b>该公司预计第三季度净销售额在52亿欧元至54亿欧元之间，毛利率在51%至52%之间，研发成本约为6.45亿欧元，SG&amp;A成本约为1.8亿欧元。预计2021年年化有效税率约为15%。</li></ul></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>ASML Holding EPS beats by €0.03, misses on revenue<blockquote>ASML控股EPS超过预期0.03欧元，营收不及预期</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\">\nASML Holding EPS beats by €0.03, misses on revenue<blockquote>ASML控股EPS超过预期0.03欧元，营收不及预期</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\">2021-07-21 13:51</span>\n</p>\n</h4>\n</header>\n<article>\n<p><ul>  <li><b><a href=\"https://laohu8.com/S/ASML\">ASML Holding NV</a></b>: Q2 GAAP EPS of €2.52beats by €0.03.</li>  <li>Revenue of €4B (+20.1% Y/Y)&nbsp;misses by €120M.</li>  <li>Q2 net bookings of €8.3 billion</li>  <li>ASML announces a new share buyback program of up to €9 billion to be executed by December 31, 2023.</li>  <li>\"Our second-quarter net sales came in at €4.0 billion, which is within our guidance. The gross margin came in at 50.9%, above our guidance, which is mainly due to higher revenue in software upgrades as customers want to increase capacity quickly, as well as one-off revenue accounting releases. Our second-quarter net bookings came in at €8.3 billion, including €4.9 billion from EUV systems, bringing the total backlog at €17.5 billion,\"&nbsp;said ASML President and Chief Executive Officer&nbsp;Peter Wennink.</li>  <li><b>Guidance:</b>&nbsp;The company expects third-quarter net sales between €5.2 billion and €5.4 billion with a gross margin between 51% and 52%, R&amp;D costs of around €645 million and SG&amp;A costs of around €180 million. The estimated annualized effective tax rate is expected to be around 15% for 2021.</li> </ul></p><p><blockquote><ul><li><b><a href=\"https://laohu8.com/S/ASML\">ASML控股公司</a></b>：第二季度GAAP每股收益为2.52欧元，超出0.03欧元。</li><li>收入为40亿欧元（同比增长20.1%）低于预期1.2亿欧元。</li><li>第二季度净预订量为83亿欧元</li><li>ASML宣布一项高达90亿欧元的新股票回购计划，将于2023年12月31日执行。</li><li>“我们第二季度的净销售额为40亿欧元，在我们的指导范围内。毛利率为50.9%，高于我们的指导，这主要是由于客户希望快速增加产能，软件升级收入增加，以及一次性收入会计发布。我们第二季度的净预订量为83亿欧元，其中包括来自EUV systems的49亿欧元，使积压订单总额达到175亿欧元，”ASML总裁兼首席执行官Peter Wennink说道。</li><li><b>指导意见：</b>该公司预计第三季度净销售额在52亿欧元至54亿欧元之间，毛利率在51%至52%之间，研发成本约为6.45亿欧元，SG&amp;A成本约为1.8亿欧元。预计2021年年化有效税率约为15%。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/news/3717203-asml-holding-eps-beats-by-003-misses-on-revenue\">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":{"ASML":"阿斯麦"},"source_url":"https://seekingalpha.com/news/3717203-asml-holding-eps-beats-by-003-misses-on-revenue","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165880037","content_text":"ASML Holding NV: Q2 GAAP EPS of €2.52beats by €0.03.\nRevenue of €4B (+20.1% Y/Y) misses by €120M.\nQ2 net bookings of €8.3 billion\nASML announces a new share buyback program of up to €9 billion to be executed by December 31, 2023.\n\"Our second-quarter net sales came in at €4.0 billion, which is within our guidance. The gross margin came in at 50.9%, above our guidance, which is mainly due to higher revenue in software upgrades as customers want to increase capacity quickly, as well as one-off revenue accounting releases. Our second-quarter net bookings came in at €8.3 billion, including €4.9 billion from EUV systems, bringing the total backlog at €17.5 billion,\" said ASML President and Chief Executive Officer Peter Wennink.\nGuidance: The company expects third-quarter net sales between €5.2 billion and €5.4 billion with a gross margin between 51% and 52%, R&D costs of around €645 million and SG&A costs of around €180 million. The estimated annualized effective tax rate is expected to be around 15% for 2021.","news_type":1,"symbols_score_info":{"ASML":0.9}},"isVote":1,"tweetType":1,"viewCount":1546,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179439783,"gmtCreate":1626570288542,"gmtModify":1633925852167,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/179439783","repostId":"1156209584","repostType":4,"isVote":1,"tweetType":1,"viewCount":1188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":145487928,"gmtCreate":1626237953664,"gmtModify":1633928725274,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145487928","repostId":"1100762217","repostType":4,"repost":{"id":"1100762217","kind":"news","pubTimestamp":1626233419,"share":"https://www.laohu8.com/m/news/1100762217?lang=zh_CN&edition=full","pubTime":"2021-07-14 11:30","market":"us","language":"en","title":"\"There Will Be Unknown Issues\": Tesla Warns FSD 9.0 Beta May \"Do The Wrong Thing At The Worst Time\"<blockquote>“将出现未知问题”：特斯拉警告FSD 9.0 Beta可能“在最糟糕的时候做错事”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100762217","media":"zerohedge","summary":"Just in case anyone was wondering whether or not Tesla Motors 's Full Self Driving version 9.0 beta ","content":"<p>Just in case anyone was wondering whether or not <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> 's Full Self Driving version 9.0 beta - with the companynow ditching radarand relying on a \"camera focused Autopilot system\" - was going to be the improvement that finally solved&nbsp;<i>everything,</i>let us be the first to say that it isn't.</p><p><blockquote>以防有人想知道<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>的全自动驾驶9.0测试版——该公司现在放弃了雷达并依赖于“以摄像头为中心的自动驾驶系统”——将成为最终解决问题的改进<i>一切，</i>让我们第一个说事实并非如此。</blockquote></p><p> The much heralded update to Full Self Driving, whicharrived about a month lateand had been touted as a solution to the&nbsp;<i>last</i>beta, which wassuch a disasterit waspulled off the market quickly, appears to be more of the same: jerky movements, uncertain vehicle operation and constant necessary interruptions from the driver.</p><p><blockquote>备受期待的全自动驾驶更新，大约晚了一个月才推出，并被吹捧为解决<i>最后</i>beta是一场灾难，很快就被撤出了市场，但它似乎更多的是相同的：运动不稳定、车辆运行不确定以及驾驶员不断必要的干扰。</blockquote></p><p> And now Tesla has a warning for those beta testing version 9.0:&nbsp;its full self-driving software \"may do the wrong thing at the worst time\", according toSky News.&nbsp;Musk said the newest update to the full self-driving capability \"addresses most known issues\", Sky News reported,&nbsp;but added \"there will be unknown issues, so please be paranoid\".</p><p><blockquote>据天空新闻报道，现在特斯拉对9.0版本的beta测试发出了警告：其全自动驾驶软件“可能会在最糟糕的时候做错误的事情”。据天空新闻报道，马斯克表示，全自动驾驶功能的最新更新“解决了大多数已知的问题”，但补充说“还会有未知的问题，所以请保持偏执”。</blockquote></p><p> It is part of a broader piece of messaging to customers to make sure they continue to pay attention at the wheel while Full-Self Driving is on, despite the fact that Elon Musk himself said in 2019 that the reliability of Full-Self Driving in 2020 would be such that \"no one needs to pay attention\".</p><p><blockquote>这是向客户传达的更广泛信息的一部分，以确保他们在全自动驾驶开启时继续集中注意力，尽管埃隆·马斯克本人在2019年表示，2020年全自动驾驶的可靠性将是“没有人需要注意”。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de8f91a4dc0acdf17e08e1070968ddd6\" tg-width=\"512\" tg-height=\"786\" referrerpolicy=\"no-referrer\">The reason Tesla wants customers to pay attention all of a sudden is because the company's Full Self Driving 9.0 is launching customers erratically down roads across the U.S., as indicated by this video of the hardware taking over one Tesla and nearly driving it into columns on the road.</p><p><blockquote>特斯拉希望客户突然注意的原因是，该公司的全自动驾驶9.0正在美国各地的道路上不稳定地向客户推出，正如这段视频所示，硬件接管了一辆特斯拉并差点将其撞上柱子在路上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e843e85615ee66c0abfd508c3c67a180\" tg-width=\"515\" tg-height=\"463\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/266eff802db5d8f980d885fb28fbfcc5\" tg-width=\"520\" tg-height=\"656\" referrerpolicy=\"no-referrer\">After Full Self Driving 9.0's release, even the company's biggest fans&nbsp;like Galileo Russell said he saw little difference between the last beta and this one - and he still thinks the company is \"still a long way away\" to truly autonomous driving \"where you never have to intervene\".</p><p><blockquote>在全自动驾驶9.0发布后，即使是伽利略·罗素等该公司最大的粉丝也表示，他认为上一个测试版和这个测试版之间没有什么区别，而且他仍然认为该公司距离真正的自动驾驶“还有很长的路要走”，“你永远不必干预”。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3287fd70e53e18fa2fd8b9f7798982bc\" tg-width=\"535\" tg-height=\"842\" referrerpolicy=\"no-referrer\">Recall,&nbsp;Elon Musk withdrew the company's&nbsp;Full Self Driving beta v8.2&nbsp;after it was absolutely thrashed by critics like Road and Track who&nbsp;called&nbsp;it \"laughably bad\" and \"potentially dangerous\".</p><p><blockquote>回想一下，埃隆·马斯克(Elon Musk)撤回了该公司的全自动驾驶测试版v8.2，此前该测试遭到了Road and Track等批评者的彻底抨击，称其“糟糕得可笑”和“潜在危险”。</blockquote></p><p> As a reminder, Musk said in 2019 he was \"very confident\" in predicting autonomous robotaxis \"next year\", which would have been 2020, which has now turned into \"last year\" and<i>&nbsp;is six months away from being \"two years ago\":</i></p><p><blockquote>提醒一下，马斯克在2019年表示，他“非常有信心”预测“明年”的自动机器人出租车，这本来是2020年，现在已经变成了“去年”和<i>距离“两年前”还有六个月：</i></blockquote></p><p> Recall,&nbsp;earlier this year Tesla offered up another reality check&nbsp;when it admitted to regulators that it was still \"firmly in level 2\" autonomy.</p><p><blockquote>回想一下，今年早些时候，特斯拉向监管机构承认其仍“坚定地处于2级”自治状态，从而提供了另一个现实检验。</blockquote></p><p> The company \"told a California regulator that it may not achieve full self-driving technology by the end of this year,\"&nbsp;according to Reuters&nbsp;back in May. The memo was originally unearthed by legal website&nbsp;PlainSite.</p><p><blockquote>据路透社5月份报道，该公司“告诉加州监管机构，它可能无法在今年年底前实现全自动驾驶技术”。这份备忘录最初是由法律网站PlainSite发现的。</blockquote></p><p> \"Tesla indicated that Elon is extrapolating on the rates of improvement when speaking about L5 capabilities. Tesla couldn’t say if the rate of improvement would make it to L5 by end of calendar year,\" the memo said.</p><p><blockquote>备忘录称：“特斯拉表示，伊隆在谈到L5能力时是在推断改进率。特斯拉无法透露改进率是否会在年底前达到L5。”</blockquote></p><p> It continued: \"Tesla indicated that they are still firmly in L2. As Tesla is aware, the public’s misunderstanding about the limits of the technology and its misuse can have tragic consequences.\"</p><p><blockquote>它继续说道：“特斯拉表示他们仍然坚定地处于L2。正如特斯拉所知，公众对该技术局限性的误解及其滥用可能会产生悲惨的后果。”</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>\"There Will Be Unknown Issues\": Tesla Warns FSD 9.0 Beta May \"Do The Wrong Thing At The Worst Time\"<blockquote>“将出现未知问题”：特斯拉警告FSD 9.0 Beta可能“在最糟糕的时候做错事”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n\"There Will Be Unknown Issues\": Tesla Warns FSD 9.0 Beta May \"Do The Wrong Thing At The Worst Time\"<blockquote>“将出现未知问题”：特斯拉警告FSD 9.0 Beta可能“在最糟糕的时候做错事”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-07-14 11:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Just in case anyone was wondering whether or not <a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a> 's Full Self Driving version 9.0 beta - with the companynow ditching radarand relying on a \"camera focused Autopilot system\" - was going to be the improvement that finally solved&nbsp;<i>everything,</i>let us be the first to say that it isn't.</p><p><blockquote>以防有人想知道<a href=\"https://laohu8.com/S/TSLA\">特斯拉</a>的全自动驾驶9.0测试版——该公司现在放弃了雷达并依赖于“以摄像头为中心的自动驾驶系统”——将成为最终解决问题的改进<i>一切，</i>让我们第一个说事实并非如此。</blockquote></p><p> The much heralded update to Full Self Driving, whicharrived about a month lateand had been touted as a solution to the&nbsp;<i>last</i>beta, which wassuch a disasterit waspulled off the market quickly, appears to be more of the same: jerky movements, uncertain vehicle operation and constant necessary interruptions from the driver.</p><p><blockquote>备受期待的全自动驾驶更新，大约晚了一个月才推出，并被吹捧为解决<i>最后</i>beta是一场灾难，很快就被撤出了市场，但它似乎更多的是相同的：运动不稳定、车辆运行不确定以及驾驶员不断必要的干扰。</blockquote></p><p> And now Tesla has a warning for those beta testing version 9.0:&nbsp;its full self-driving software \"may do the wrong thing at the worst time\", according toSky News.&nbsp;Musk said the newest update to the full self-driving capability \"addresses most known issues\", Sky News reported,&nbsp;but added \"there will be unknown issues, so please be paranoid\".</p><p><blockquote>据天空新闻报道，现在特斯拉对9.0版本的beta测试发出了警告：其全自动驾驶软件“可能会在最糟糕的时候做错误的事情”。据天空新闻报道，马斯克表示，全自动驾驶功能的最新更新“解决了大多数已知的问题”，但补充说“还会有未知的问题，所以请保持偏执”。</blockquote></p><p> It is part of a broader piece of messaging to customers to make sure they continue to pay attention at the wheel while Full-Self Driving is on, despite the fact that Elon Musk himself said in 2019 that the reliability of Full-Self Driving in 2020 would be such that \"no one needs to pay attention\".</p><p><blockquote>这是向客户传达的更广泛信息的一部分，以确保他们在全自动驾驶开启时继续集中注意力，尽管埃隆·马斯克本人在2019年表示，2020年全自动驾驶的可靠性将是“没有人需要注意”。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de8f91a4dc0acdf17e08e1070968ddd6\" tg-width=\"512\" tg-height=\"786\" referrerpolicy=\"no-referrer\">The reason Tesla wants customers to pay attention all of a sudden is because the company's Full Self Driving 9.0 is launching customers erratically down roads across the U.S., as indicated by this video of the hardware taking over one Tesla and nearly driving it into columns on the road.</p><p><blockquote>特斯拉希望客户突然注意的原因是，该公司的全自动驾驶9.0正在美国各地的道路上不稳定地向客户推出，正如这段视频所示，硬件接管了一辆特斯拉并差点将其撞上柱子在路上。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/e843e85615ee66c0abfd508c3c67a180\" tg-width=\"515\" tg-height=\"463\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/266eff802db5d8f980d885fb28fbfcc5\" tg-width=\"520\" tg-height=\"656\" referrerpolicy=\"no-referrer\">After Full Self Driving 9.0's release, even the company's biggest fans&nbsp;like Galileo Russell said he saw little difference between the last beta and this one - and he still thinks the company is \"still a long way away\" to truly autonomous driving \"where you never have to intervene\".</p><p><blockquote>在全自动驾驶9.0发布后，即使是伽利略·罗素等该公司最大的粉丝也表示，他认为上一个测试版和这个测试版之间没有什么区别，而且他仍然认为该公司距离真正的自动驾驶“还有很长的路要走”，“你永远不必干预”。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/3287fd70e53e18fa2fd8b9f7798982bc\" tg-width=\"535\" tg-height=\"842\" referrerpolicy=\"no-referrer\">Recall,&nbsp;Elon Musk withdrew the company's&nbsp;Full Self Driving beta v8.2&nbsp;after it was absolutely thrashed by critics like Road and Track who&nbsp;called&nbsp;it \"laughably bad\" and \"potentially dangerous\".</p><p><blockquote>回想一下，埃隆·马斯克(Elon Musk)撤回了该公司的全自动驾驶测试版v8.2，此前该测试遭到了Road and Track等批评者的彻底抨击，称其“糟糕得可笑”和“潜在危险”。</blockquote></p><p> As a reminder, Musk said in 2019 he was \"very confident\" in predicting autonomous robotaxis \"next year\", which would have been 2020, which has now turned into \"last year\" and<i>&nbsp;is six months away from being \"two years ago\":</i></p><p><blockquote>提醒一下，马斯克在2019年表示，他“非常有信心”预测“明年”的自动机器人出租车，这本来是2020年，现在已经变成了“去年”和<i>距离“两年前”还有六个月：</i></blockquote></p><p> Recall,&nbsp;earlier this year Tesla offered up another reality check&nbsp;when it admitted to regulators that it was still \"firmly in level 2\" autonomy.</p><p><blockquote>回想一下，今年早些时候，特斯拉向监管机构承认其仍“坚定地处于2级”自治状态，从而提供了另一个现实检验。</blockquote></p><p> The company \"told a California regulator that it may not achieve full self-driving technology by the end of this year,\"&nbsp;according to Reuters&nbsp;back in May. The memo was originally unearthed by legal website&nbsp;PlainSite.</p><p><blockquote>据路透社5月份报道，该公司“告诉加州监管机构，它可能无法在今年年底前实现全自动驾驶技术”。这份备忘录最初是由法律网站PlainSite发现的。</blockquote></p><p> \"Tesla indicated that Elon is extrapolating on the rates of improvement when speaking about L5 capabilities. Tesla couldn’t say if the rate of improvement would make it to L5 by end of calendar year,\" the memo said.</p><p><blockquote>备忘录称：“特斯拉表示，伊隆在谈到L5能力时是在推断改进率。特斯拉无法透露改进率是否会在年底前达到L5。”</blockquote></p><p> It continued: \"Tesla indicated that they are still firmly in L2. As Tesla is aware, the public’s misunderstanding about the limits of the technology and its misuse can have tragic consequences.\"</p><p><blockquote>它继续说道：“特斯拉表示他们仍然坚定地处于L2。正如特斯拉所知，公众对该技术局限性的误解及其滥用可能会产生悲惨的后果。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/there-will-be-unknown-issues-tesla-warns-fsd-90-beta-may-do-wrong-thing-worst-time\">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":{"TSLA":"特斯拉"},"source_url":"https://www.zerohedge.com/markets/there-will-be-unknown-issues-tesla-warns-fsd-90-beta-may-do-wrong-thing-worst-time","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100762217","content_text":"Just in case anyone was wondering whether or not Tesla Motors 's Full Self Driving version 9.0 beta - with the companynow ditching radarand relying on a \"camera focused Autopilot system\" - was going to be the improvement that finally solved everything,let us be the first to say that it isn't.\nThe much heralded update to Full Self Driving, whicharrived about a month lateand had been touted as a solution to the lastbeta, which wassuch a disasterit waspulled off the market quickly, appears to be more of the same: jerky movements, uncertain vehicle operation and constant necessary interruptions from the driver.\nAnd now Tesla has a warning for those beta testing version 9.0: its full self-driving software \"may do the wrong thing at the worst time\", according toSky News. Musk said the newest update to the full self-driving capability \"addresses most known issues\", Sky News reported, but added \"there will be unknown issues, so please be paranoid\".\nIt is part of a broader piece of messaging to customers to make sure they continue to pay attention at the wheel while Full-Self Driving is on, despite the fact that Elon Musk himself said in 2019 that the reliability of Full-Self Driving in 2020 would be such that \"no one needs to pay attention\".\nThe reason Tesla wants customers to pay attention all of a sudden is because the company's Full Self Driving 9.0 is launching customers erratically down roads across the U.S., as indicated by this video of the hardware taking over one Tesla and nearly driving it into columns on the road.\nAfter Full Self Driving 9.0's release, even the company's biggest fans like Galileo Russell said he saw little difference between the last beta and this one - and he still thinks the company is \"still a long way away\" to truly autonomous driving \"where you never have to intervene\".\nRecall, Elon Musk withdrew the company's Full Self Driving beta v8.2 after it was absolutely thrashed by critics like Road and Track who called it \"laughably bad\" and \"potentially dangerous\".\nAs a reminder, Musk said in 2019 he was \"very confident\" in predicting autonomous robotaxis \"next year\", which would have been 2020, which has now turned into \"last year\" and is six months away from being \"two years ago\":\nRecall, earlier this year Tesla offered up another reality check when it admitted to regulators that it was still \"firmly in level 2\" autonomy.\nThe company \"told a California regulator that it may not achieve full self-driving technology by the end of this year,\" according to Reuters back in May. The memo was originally unearthed by legal website PlainSite.\n\"Tesla indicated that Elon is extrapolating on the rates of improvement when speaking about L5 capabilities. Tesla couldn’t say if the rate of improvement would make it to L5 by end of calendar year,\" the memo said.\nIt continued: \"Tesla indicated that they are still firmly in L2. As Tesla is aware, the public’s misunderstanding about the limits of the technology and its misuse can have tragic 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09:58","market":"us","language":"en","title":"Palantir: The Untold Truth<blockquote>Palantir：不为人知的真相</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180977741","media":"seekingalpha","summary":"Summary\n\nPalantir is often criticized for its lofty valuation multiples, stagnating customer base an","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir is often criticized for its lofty valuation multiples, stagnating customer base and its bleak margin profile.</li>  <li>But the company is actually doing well in terms of customer growth, margin expansion and government order wins.</li>  <li>Investors with a long-term time horizon may want to accumulate its shares on potential price corrections.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6abc7f93f4c7e615f66dca20523d1c16\" tg-width=\"1536\" tg-height=\"1077\"><span>C Flanigan/Getty Images Entertainment</span></p><p><blockquote><ul><li>Palantir经常因其高估值倍数、停滞的客户群和黯淡的利润率而受到批评。</li><li>但该公司实际上在客户增长、利润率扩张和赢得政府订单方面表现良好。</li><li>具有长期视野的投资者可能希望在潜在的价格调整时增持其股票。</li></ul><p class=\"t-img-caption\"><span>C·弗拉尼根/盖蒂图片社娱乐</span></p></blockquote></p><p> Palantir (PLTR) is lately being lambasted in various investing forums on speculative grounds such as how its growth momentum could fizzle out soon, how its margin profile is dragging the company down and that the stock doesn’t justify its price premium. But the company isn't as bad. On the contrary, the data analytics firm is performing well on several parameters – such as customer growth, government order wins and margin expansion – which should come as an encouraging sign for its long-side investors and dispel such speculative bearish narratives. Let's take a closer look.</p><p><blockquote>Palantir(PLTR)最近在各种投资论坛上因投机原因而受到严厉批评，例如其增长势头可能很快就会消失、其利润率状况如何拖累公司以及该股没有证明其溢价是合理的。但这家公司并没有那么糟糕。相反，这家数据分析公司在客户增长、政府订单赢得和利润率扩张等多个参数上表现良好，这对其多头投资者来说应该是一个令人鼓舞的迹象，并消除此类投机性看跌叙事。让我们仔细看看。</blockquote></p><p> <b>Rapid Customer Growth</b></p><p><blockquote><b>客户快速增长</b></blockquote></p><p> Bears have been criticizing Palantir for its bespoke functionality ever since it went public. Its platforms involve customization for various workflows and customer needs, so bears feel the company faces difficulty in onboarding several customers at once and as a result, it’s bottlenecked and its growth momentum can fizzle out. While I respect contrasting opinions, fact of the matter here is that Palantir doesn’t seem to be struggling with customer adds.</p><p><blockquote>自Palantir上市以来，看空者一直批评其定制功能。其平台涉及针对各种工作流程和客户需求的定制，因此看空者认为该公司在同时吸引多个客户方面面临困难，因此，它遇到了瓶颈，其增长势头可能会消失。虽然我尊重不同的意见，但事实是Palantir似乎并没有在客户添加方面遇到困难。</blockquote></p><p> The company’s customer count increased by over 7% on a sequential basis in Q1 2021. Our database at Business Quant reveals that this pace of growth is actually higher than that reported by some of the other renowned names in the software application and infrastructure industries. This immediately dispels the narrative that Palantir faces difficulty in scaling customer relationships due to its bespoke features, whenit's performing better than peers in this regard.</p><p><blockquote>2021年第一季度，该公司的客户数量环比增长超过7%。我们在Business Quant的数据库显示，这一增长速度实际上高于软件应用和基础设施行业的其他一些知名公司报告的增长速度。这立即消除了Palantir因其定制功能而在扩大客户关系方面面临困难的说法，尽管它在这方面的表现优于同行。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/37577e60466b8a980efd8bee77b02711\" tg-width=\"640\" tg-height=\"516\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company’s elevated pace of customer additions shouldn’t come as a surprise to my readers. I’ve explained in my prior articles how the company is undertaking a slew of measures – such as adopting a customer-friendly&nbsp;payment model, ramping up its&nbsp;sales function&nbsp;and introducing&nbsp;free trials&nbsp;for major enterprises – to expand its customer base. These initiatives were announced only a few months ago, and will continue for the rest of FY21, so I expect Palantir to continue adding customers at a rapid rate in near future as well.</p><p><blockquote>我的读者不应该对该公司增加客户的速度感到惊讶。我在之前的文章中解释了该公司如何采取一系列措施来扩大客户群，例如采用客户友好的支付模式、增强销售功能以及为主要企业引入免费试用。这些举措是几个月前才宣布的，并将持续到2021财年的剩余时间，因此我预计Palantir在不久的将来也会继续快速增加客户。</blockquote></p><p> Having said that, there’s no denying that Palantir’s customer base isn’t as sizable as some of its peers, but that’s also where its growth opportunity lies. It suggests that Palantir is yet to penetrate its target market in a big way and that its lower base effect makes it easier for the company to continue expanding its customer base at elevated rates.</p><p><blockquote>话虽如此，不可否认的是，Palantir的客户群不如一些同行那么大，但这也是其增长机会所在。这表明Palantir尚未大规模渗透其目标市场，其较低的基数效应使该公司更容易继续高速扩大其客户群。</blockquote></p><p> There are broadly four takeaways here, which, by the way, the bears seem to discount time and again. These are:</p><p><blockquote>这里大致有四个要点，顺便说一句，空头似乎一次又一次地打折。这些是：</blockquote></p><p> <ul>  <li>Palantir's target market isn't saturated yet and it can still find new customers with ease,</li>  <li>These new customers are bound to lift the company’s revenue higher in 2021 by a varied magnitude, depending on their contract value,</li>  <li>If these are recurring contracts, then that’s going to boost Palantir’s future revenue projections and guidance,</li>  <li>If these new customers eventually ramp up their spend, then that's also going to boost Palantir’s future cash flows.</li> </ul> Regarding the last bullet, it's worth noting that Palantir’s top 20 customers, in general, have significantly ramped up their spending on the company’s data analytics platforms in each of the last 10 years. This new batch of customers, and any future customer additions, could also go through this spending expansion phase in the subsequent years and gradually boost Palantir’s revenue along the way. So, we must give due importance to its rapid pace of customer adds and not take it lightly.</p><p><blockquote><ul><li>Palantir的目标市场尚未饱和，仍然可以轻松找到新客户，</li><li>这些新客户势必会在2021年以不同幅度提升公司的收入，具体取决于其合同价值，</li><li>如果这些是经常性合同，那么这将提高Palantir未来的收入预测和指导，</li><li>如果这些新客户最终增加支出，那么这也将增加Palantir未来的现金流。</li></ul>关于最后一个要点，值得注意的是，Palantir的前20名客户总体上在过去10年中每年都大幅增加了在该公司数据分析平台上的支出。这批新客户以及任何未来新增的客户也可能在随后几年经历这一支出扩张阶段，并在此过程中逐渐增加Palantir的收入。因此，我们必须对其快速的客户增长给予应有的重视，而不是掉以轻心。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f4923a1dd5cc6af812c6dd7b8335f878\" tg-width=\"640\" tg-height=\"426\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> <b>Margin Expansion</b></p><p><blockquote><b>利润扩张</b></blockquote></p><p> Another issue with assessing Palantir’s growth prospects is that the company isn’t profitable yet. While some feel the stock will remain subdued due to its weak margin profile, others feel it can collapse down to single digits. The frustration is understandable given the company posted a net loss of $0.07 per share in its most recent quarter.</p><p><blockquote>评估Palantir增长前景的另一个问题是该公司尚未盈利。虽然一些人认为该股由于利润率疲弱而将保持低迷，但另一些人则认为该股可能会跌至个位数。鉴于该公司最近一个季度每股净亏损0.07美元，这种沮丧是可以理解的。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facd3a7bf5326c841c6f0e79d392d160\" tg-width=\"640\" tg-height=\"125\"><span>(Source:Seeking Alpha)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：寻求阿尔法）</span></p></blockquote></p><p> But I wanted to see for myself if Palantir’s margin profile was actually as hopeless as many believe it to be. So, I compiled the margin profiles for about 90 software infrastructure stocks listed on US bourses. There's no denying that the company's net profit margin is in the red. But what's surprising here is that Palantir had actually posted one of the highest sequential net margin expansions in Q1, in its peer group. To the best of my knowledge, this aspect of Palantir’s business hasn’t been discussed on any investing forum.</p><p><blockquote>但我想亲眼看看Palantir的利润率是否真的像许多人认为的那样无望。因此，我编制了在美国证券交易所上市的约90只软件基础设施股票的保证金概况。不可否认，该公司的净利润率是亏损的。但令人惊讶的是，Palantir实际上是同行中第一季度净利润增长率最高的公司之一。据我所知，Palantir业务的这一方面尚未在任何投资论坛上讨论过。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25614333f421bbcdaf90b43a6ed8e011\" tg-width=\"640\" tg-height=\"552\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> The company may not have been profitable so far, but that doesn’t mean it will remain unprofitable in the future as well. If its recent pace of margin expansion continues in the next several quarters, the company could become profitable in the next 2 to 3 years without sacrificing on its growth momentum. So, let’s give credit where it’s due. The community of professional analysts also shares this line of thought and projects Palantir's margin profile to materially improve going forward.</p><p><blockquote>该公司到目前为止可能尚未盈利，但这并不意味着它未来也将保持无利可图。如果其最近的利润率扩张步伐在未来几个季度继续下去，该公司可能会在未来2到3年内实现盈利，而不会牺牲其增长势头。所以，让我们给予应有的信任。专业分析师社区也认同这一想法，并预计Palantir的利润率状况未来将大幅改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b0017c547d56295730e8f7f4124935d\" tg-width=\"640\" tg-height=\"400\"><span>(Source:MarketScreener)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：MarketScreener）</span></p></blockquote></p><p> Besides, with public shareholding involved now, its management is likely to be under constant pressure to deliver breakneck revenue growth rates, and/or achieve profitability in the near future, or risk being voted out of their positions. This pressure may not have been as intense prior to its direct listing, when fewer shareholders were involved. So, overall, I don’t think Palantir’s margin profile is hopeless as many believe it to be, and I expect the company to become profitable by 2024.</p><p><blockquote>此外，由于现在涉及公众持股，其管理层可能会面临持续的压力，以实现惊人的收入增长率，和/或在不久的将来实现盈利，否则将面临被投票罢免的风险。这种压力可能没有直接上市前那么大，当时参与的股东较少。因此，总体而言，我不认为Palantir的利润率状况像许多人认为的那样毫无希望，我预计该公司将在2024年实现盈利。</blockquote></p><p> <b>Government Contract Wins</b></p><p><blockquote><b>赢得政府合同</b></blockquote></p><p> Moving on, Palantir has been doing extremely well when it comes to securing government contracts. B2G contracts are generally tough to win – given the extensive qualification criteria, long turnaround times and heightened competition – but Palantir seems to have the figured out recipe for success on the government side of its business. For the uninitiated, its revenue from government contracts rose 76% year over year, accounted for about 61% of the company's overall revenue, in Q1.</p><p><blockquote>展望未来，Palantir在获得政府合同方面做得非常好。考虑到广泛的资格标准、较长的周转时间和激烈的竞争，B2G合同通常很难赢得，但Palantir似乎已经找到了在政府业务方面取得成功的秘诀。对于外行人来说，第一季度其政府合同收入同比增长76%，约占公司总收入的61%。</blockquote></p><p> Unless the company botches up somewhere, these government agencies are likely going to internally recommend it for varied applications. They won’t have to qualify Palantir time and again for several criteria which could drive these internal cross-agency referrals in a speedy manner and these agencies might even ramp up their spending in pre-existing contracts. So, Palantir just needs to rinse-and-repeat its B2G (Business-to-Government) strategy, and its government revenue could continue growing rapidly.</p><p><blockquote>除非公司在某个地方搞砸了，否则这些政府机构很可能会在内部推荐它用于各种应用。他们不必一次又一次地对Palantir进行资格认证，这些标准可能会迅速推动这些内部跨机构推荐，这些机构甚至可能会增加在现有合同上的支出。因此，Palantir只需要冲洗并重复其B2G（企业对政府）战略，其政府收入就可以继续快速增长。</blockquote></p><p> Palantir has also made steady progress with regards to its government business so far in Q2. Its Q2 is still ongoing, but at the time of this writing, the company has over $36 million worth of new current action obligations from government deals, agreements and contracts, most of which haven’t made the headlines. For the uninitiated, a new deal could be an addition to pre-existing deal, expand the scope of previously agreed upon deliverables, it could be entirely new in nature, have varied execution periods that span from months to years and/or also have a recurring revenue stream attached to it.</p><p><blockquote>到目前为止，Palantir在第二季度的政府业务方面也取得了稳步进展。其第二季度仍在进行中，但在撰写本文时，该公司从政府交易、协议和合同中承担了价值超过3600万美元的新当前行动义务，其中大部分尚未成为头条新闻。对于门外汉来说，新交易可能是对现有交易的补充，扩大了先前商定的可交付成果的范围，它可能是全新的，具有从几个月到几年的不同执行期和/或还具有附加的经常性收入流。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/091203d7b476076ff008ca0c3b0f6ad2\" tg-width=\"640\" tg-height=\"352\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> So, while there are several variables that prevent us from reliably estimating the near-term revenue impact from these deals, Palantir’s shareholders with a long-term time horizon should feel reassured that their company continues to make steady progress towards growing its government business.</p><p><blockquote>因此，虽然有几个变量阻止我们可靠地估计这些交易的近期收入影响，但Palantir的长期股东应该感到放心，他们的公司在发展政府业务方面继续取得稳步进展。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Palantir’s shares are currently trading at about 43-times its trailing twelve-month sales which is, undeniably, high by conventional standards.</p><p><blockquote>Palantir的股价目前约为过去12个月销售额的43倍，不可否认，按照传统标准，这一数字很高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/40584e7d2ca5458e8609338887f80e2f\" tg-width=\"640\" tg-height=\"361\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> However, its rich valuations alone shouldn't be the basis of a bear thesis. Palantir's valuation multiples may be high, but note from the chart above thatits revenue growth rate in Q1 was also higher than most of its peers.</p><p><blockquote>然而，其丰厚的估值本身不应成为熊市论点的基础。Palantir的估值倍数可能很高，但从上图中可以看出，其第一季度的收入增长率也高于大多数同行。</blockquote></p><p> So, I believe the price premium is justified by the company’s rapid pace of revenue growth (illustrated in the chart above), its qualitative growth catalysts discussed in this article and its relatively secure government revenue stream.</p><p><blockquote>因此，我认为该公司的快速收入增长（如上图所示）、本文讨论的定性增长催化剂以及相对安全的政府收入流证明了溢价是合理的。</blockquote></p><p></p><p> Keeping these factors in mind, investors with a multi-year time horizon may want to increase exposure to Palantir on potential price corrections. The stock is likely to reach new highs as its growth catalysts eventually materialize, and as the company approaches profitability, in the next 2 to 3 years. Good Luck!</p><p><blockquote>考虑到这些因素，具有多年时间范围的投资者可能希望在潜在价格调整时增加对Palantir的投资。随着其增长催化剂最终实现以及公司接近盈利，该股可能会在未来2到3年内创下新高。祝你好运！</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir: The Untold Truth<blockquote>Palantir：不为人知的真相</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: The Untold Truth<blockquote>Palantir：不为人知的真相</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-18 09:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir is often criticized for its lofty valuation multiples, stagnating customer base and its bleak margin profile.</li>  <li>But the company is actually doing well in terms of customer growth, margin expansion and government order wins.</li>  <li>Investors with a long-term time horizon may want to accumulate its shares on potential price corrections.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6abc7f93f4c7e615f66dca20523d1c16\" tg-width=\"1536\" tg-height=\"1077\"><span>C Flanigan/Getty Images Entertainment</span></p><p><blockquote><ul><li>Palantir经常因其高估值倍数、停滞的客户群和黯淡的利润率而受到批评。</li><li>但该公司实际上在客户增长、利润率扩张和赢得政府订单方面表现良好。</li><li>具有长期视野的投资者可能希望在潜在的价格调整时增持其股票。</li></ul><p class=\"t-img-caption\"><span>C·弗拉尼根/盖蒂图片社娱乐</span></p></blockquote></p><p> Palantir (PLTR) is lately being lambasted in various investing forums on speculative grounds such as how its growth momentum could fizzle out soon, how its margin profile is dragging the company down and that the stock doesn’t justify its price premium. But the company isn't as bad. On the contrary, the data analytics firm is performing well on several parameters – such as customer growth, government order wins and margin expansion – which should come as an encouraging sign for its long-side investors and dispel such speculative bearish narratives. Let's take a closer look.</p><p><blockquote>Palantir(PLTR)最近在各种投资论坛上因投机原因而受到严厉批评，例如其增长势头可能很快就会消失、其利润率状况如何拖累公司以及该股没有证明其溢价是合理的。但这家公司并没有那么糟糕。相反，这家数据分析公司在客户增长、政府订单赢得和利润率扩张等多个参数上表现良好，这对其多头投资者来说应该是一个令人鼓舞的迹象，并消除此类投机性看跌叙事。让我们仔细看看。</blockquote></p><p> <b>Rapid Customer Growth</b></p><p><blockquote><b>客户快速增长</b></blockquote></p><p> Bears have been criticizing Palantir for its bespoke functionality ever since it went public. Its platforms involve customization for various workflows and customer needs, so bears feel the company faces difficulty in onboarding several customers at once and as a result, it’s bottlenecked and its growth momentum can fizzle out. While I respect contrasting opinions, fact of the matter here is that Palantir doesn’t seem to be struggling with customer adds.</p><p><blockquote>自Palantir上市以来，看空者一直批评其定制功能。其平台涉及针对各种工作流程和客户需求的定制，因此看空者认为该公司在同时吸引多个客户方面面临困难，因此，它遇到了瓶颈，其增长势头可能会消失。虽然我尊重不同的意见，但事实是Palantir似乎并没有在客户添加方面遇到困难。</blockquote></p><p> The company’s customer count increased by over 7% on a sequential basis in Q1 2021. Our database at Business Quant reveals that this pace of growth is actually higher than that reported by some of the other renowned names in the software application and infrastructure industries. This immediately dispels the narrative that Palantir faces difficulty in scaling customer relationships due to its bespoke features, whenit's performing better than peers in this regard.</p><p><blockquote>2021年第一季度，该公司的客户数量环比增长超过7%。我们在Business Quant的数据库显示，这一增长速度实际上高于软件应用和基础设施行业的其他一些知名公司报告的增长速度。这立即消除了Palantir因其定制功能而在扩大客户关系方面面临困难的说法，尽管它在这方面的表现优于同行。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/37577e60466b8a980efd8bee77b02711\" tg-width=\"640\" tg-height=\"516\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company’s elevated pace of customer additions shouldn’t come as a surprise to my readers. I’ve explained in my prior articles how the company is undertaking a slew of measures – such as adopting a customer-friendly&nbsp;payment model, ramping up its&nbsp;sales function&nbsp;and introducing&nbsp;free trials&nbsp;for major enterprises – to expand its customer base. These initiatives were announced only a few months ago, and will continue for the rest of FY21, so I expect Palantir to continue adding customers at a rapid rate in near future as well.</p><p><blockquote>我的读者不应该对该公司增加客户的速度感到惊讶。我在之前的文章中解释了该公司如何采取一系列措施来扩大客户群，例如采用客户友好的支付模式、增强销售功能以及为主要企业引入免费试用。这些举措是几个月前才宣布的，并将持续到2021财年的剩余时间，因此我预计Palantir在不久的将来也会继续快速增加客户。</blockquote></p><p> Having said that, there’s no denying that Palantir’s customer base isn’t as sizable as some of its peers, but that’s also where its growth opportunity lies. It suggests that Palantir is yet to penetrate its target market in a big way and that its lower base effect makes it easier for the company to continue expanding its customer base at elevated rates.</p><p><blockquote>话虽如此，不可否认的是，Palantir的客户群不如一些同行那么大，但这也是其增长机会所在。这表明Palantir尚未大规模渗透其目标市场，其较低的基数效应使该公司更容易继续高速扩大其客户群。</blockquote></p><p> There are broadly four takeaways here, which, by the way, the bears seem to discount time and again. These are:</p><p><blockquote>这里大致有四个要点，顺便说一句，空头似乎一次又一次地打折。这些是：</blockquote></p><p> <ul>  <li>Palantir's target market isn't saturated yet and it can still find new customers with ease,</li>  <li>These new customers are bound to lift the company’s revenue higher in 2021 by a varied magnitude, depending on their contract value,</li>  <li>If these are recurring contracts, then that’s going to boost Palantir’s future revenue projections and guidance,</li>  <li>If these new customers eventually ramp up their spend, then that's also going to boost Palantir’s future cash flows.</li> </ul> Regarding the last bullet, it's worth noting that Palantir’s top 20 customers, in general, have significantly ramped up their spending on the company’s data analytics platforms in each of the last 10 years. This new batch of customers, and any future customer additions, could also go through this spending expansion phase in the subsequent years and gradually boost Palantir’s revenue along the way. So, we must give due importance to its rapid pace of customer adds and not take it lightly.</p><p><blockquote><ul><li>Palantir的目标市场尚未饱和，仍然可以轻松找到新客户，</li><li>这些新客户势必会在2021年以不同幅度提升公司的收入，具体取决于其合同价值，</li><li>如果这些是经常性合同，那么这将提高Palantir未来的收入预测和指导，</li><li>如果这些新客户最终增加支出，那么这也将增加Palantir未来的现金流。</li></ul>关于最后一个要点，值得注意的是，Palantir的前20名客户总体上在过去10年中每年都大幅增加了在该公司数据分析平台上的支出。这批新客户以及任何未来新增的客户也可能在随后几年经历这一支出扩张阶段，并在此过程中逐渐增加Palantir的收入。因此，我们必须对其快速的客户增长给予应有的重视，而不是掉以轻心。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f4923a1dd5cc6af812c6dd7b8335f878\" tg-width=\"640\" tg-height=\"426\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> <b>Margin Expansion</b></p><p><blockquote><b>利润扩张</b></blockquote></p><p> Another issue with assessing Palantir’s growth prospects is that the company isn’t profitable yet. While some feel the stock will remain subdued due to its weak margin profile, others feel it can collapse down to single digits. The frustration is understandable given the company posted a net loss of $0.07 per share in its most recent quarter.</p><p><blockquote>评估Palantir增长前景的另一个问题是该公司尚未盈利。虽然一些人认为该股由于利润率疲弱而将保持低迷，但另一些人则认为该股可能会跌至个位数。鉴于该公司最近一个季度每股净亏损0.07美元，这种沮丧是可以理解的。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facd3a7bf5326c841c6f0e79d392d160\" tg-width=\"640\" tg-height=\"125\"><span>(Source:Seeking Alpha)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：寻求阿尔法）</span></p></blockquote></p><p> But I wanted to see for myself if Palantir’s margin profile was actually as hopeless as many believe it to be. So, I compiled the margin profiles for about 90 software infrastructure stocks listed on US bourses. There's no denying that the company's net profit margin is in the red. But what's surprising here is that Palantir had actually posted one of the highest sequential net margin expansions in Q1, in its peer group. To the best of my knowledge, this aspect of Palantir’s business hasn’t been discussed on any investing forum.</p><p><blockquote>但我想亲眼看看Palantir的利润率是否真的像许多人认为的那样无望。因此，我编制了在美国证券交易所上市的约90只软件基础设施股票的保证金概况。不可否认，该公司的净利润率是亏损的。但令人惊讶的是，Palantir实际上是同行中第一季度净利润增长率最高的公司之一。据我所知，Palantir业务的这一方面尚未在任何投资论坛上讨论过。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25614333f421bbcdaf90b43a6ed8e011\" tg-width=\"640\" tg-height=\"552\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> The company may not have been profitable so far, but that doesn’t mean it will remain unprofitable in the future as well. If its recent pace of margin expansion continues in the next several quarters, the company could become profitable in the next 2 to 3 years without sacrificing on its growth momentum. So, let’s give credit where it’s due. The community of professional analysts also shares this line of thought and projects Palantir's margin profile to materially improve going forward.</p><p><blockquote>该公司到目前为止可能尚未盈利，但这并不意味着它未来也将保持无利可图。如果其最近的利润率扩张步伐在未来几个季度继续下去，该公司可能会在未来2到3年内实现盈利，而不会牺牲其增长势头。所以，让我们给予应有的信任。专业分析师社区也认同这一想法，并预计Palantir的利润率状况未来将大幅改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b0017c547d56295730e8f7f4124935d\" tg-width=\"640\" tg-height=\"400\"><span>(Source:MarketScreener)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：MarketScreener）</span></p></blockquote></p><p> Besides, with public shareholding involved now, its management is likely to be under constant pressure to deliver breakneck revenue growth rates, and/or achieve profitability in the near future, or risk being voted out of their positions. This pressure may not have been as intense prior to its direct listing, when fewer shareholders were involved. So, overall, I don’t think Palantir’s margin profile is hopeless as many believe it to be, and I expect the company to become profitable by 2024.</p><p><blockquote>此外，由于现在涉及公众持股，其管理层可能会面临持续的压力，以实现惊人的收入增长率，和/或在不久的将来实现盈利，否则将面临被投票罢免的风险。这种压力可能没有直接上市前那么大，当时参与的股东较少。因此，总体而言，我不认为Palantir的利润率状况像许多人认为的那样毫无希望，我预计该公司将在2024年实现盈利。</blockquote></p><p> <b>Government Contract Wins</b></p><p><blockquote><b>赢得政府合同</b></blockquote></p><p> Moving on, Palantir has been doing extremely well when it comes to securing government contracts. B2G contracts are generally tough to win – given the extensive qualification criteria, long turnaround times and heightened competition – but Palantir seems to have the figured out recipe for success on the government side of its business. For the uninitiated, its revenue from government contracts rose 76% year over year, accounted for about 61% of the company's overall revenue, in Q1.</p><p><blockquote>展望未来，Palantir在获得政府合同方面做得非常好。考虑到广泛的资格标准、较长的周转时间和激烈的竞争，B2G合同通常很难赢得，但Palantir似乎已经找到了在政府业务方面取得成功的秘诀。对于外行人来说，第一季度其政府合同收入同比增长76%，约占公司总收入的61%。</blockquote></p><p> Unless the company botches up somewhere, these government agencies are likely going to internally recommend it for varied applications. They won’t have to qualify Palantir time and again for several criteria which could drive these internal cross-agency referrals in a speedy manner and these agencies might even ramp up their spending in pre-existing contracts. So, Palantir just needs to rinse-and-repeat its B2G (Business-to-Government) strategy, and its government revenue could continue growing rapidly.</p><p><blockquote>除非公司在某个地方搞砸了，否则这些政府机构很可能会在内部推荐它用于各种应用。他们不必一次又一次地对Palantir进行资格认证，这些标准可能会迅速推动这些内部跨机构推荐，这些机构甚至可能会增加在现有合同上的支出。因此，Palantir只需要冲洗并重复其B2G（企业对政府）战略，其政府收入就可以继续快速增长。</blockquote></p><p> Palantir has also made steady progress with regards to its government business so far in Q2. Its Q2 is still ongoing, but at the time of this writing, the company has over $36 million worth of new current action obligations from government deals, agreements and contracts, most of which haven’t made the headlines. For the uninitiated, a new deal could be an addition to pre-existing deal, expand the scope of previously agreed upon deliverables, it could be entirely new in nature, have varied execution periods that span from months to years and/or also have a recurring revenue stream attached to it.</p><p><blockquote>到目前为止，Palantir在第二季度的政府业务方面也取得了稳步进展。其第二季度仍在进行中，但在撰写本文时，该公司从政府交易、协议和合同中承担了价值超过3600万美元的新当前行动义务，其中大部分尚未成为头条新闻。对于门外汉来说，新交易可能是对现有交易的补充，扩大了先前商定的可交付成果的范围，它可能是全新的，具有从几个月到几年的不同执行期和/或还具有附加的经常性收入流。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/091203d7b476076ff008ca0c3b0f6ad2\" tg-width=\"640\" tg-height=\"352\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> So, while there are several variables that prevent us from reliably estimating the near-term revenue impact from these deals, Palantir’s shareholders with a long-term time horizon should feel reassured that their company continues to make steady progress towards growing its government business.</p><p><blockquote>因此，虽然有几个变量阻止我们可靠地估计这些交易的近期收入影响，但Palantir的长期股东应该感到放心，他们的公司在发展政府业务方面继续取得稳步进展。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Palantir’s shares are currently trading at about 43-times its trailing twelve-month sales which is, undeniably, high by conventional standards.</p><p><blockquote>Palantir的股价目前约为过去12个月销售额的43倍，不可否认，按照传统标准，这一数字很高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/40584e7d2ca5458e8609338887f80e2f\" tg-width=\"640\" tg-height=\"361\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> However, its rich valuations alone shouldn't be the basis of a bear thesis. Palantir's valuation multiples may be high, but note from the chart above thatits revenue growth rate in Q1 was also higher than most of its peers.</p><p><blockquote>然而，其丰厚的估值本身不应成为熊市论点的基础。Palantir的估值倍数可能很高，但从上图中可以看出，其第一季度的收入增长率也高于大多数同行。</blockquote></p><p> So, I believe the price premium is justified by the company’s rapid pace of revenue growth (illustrated in the chart above), its qualitative growth catalysts discussed in this article and its relatively secure government revenue stream.</p><p><blockquote>因此，我认为该公司的快速收入增长（如上图所示）、本文讨论的定性增长催化剂以及相对安全的政府收入流证明了溢价是合理的。</blockquote></p><p></p><p> Keeping these factors in mind, investors with a multi-year time horizon may want to increase exposure to Palantir on potential price corrections. The stock is likely to reach new highs as its growth catalysts eventually materialize, and as the company approaches profitability, in the next 2 to 3 years. Good Luck!</p><p><blockquote>考虑到这些因素，具有多年时间范围的投资者可能希望在潜在价格调整时增加对Palantir的投资。随着其增长催化剂最终实现以及公司接近盈利，该股可能会在未来2到3年内创下新高。祝你好运！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4435125-palantir-the-untold-truth\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4435125-palantir-the-untold-truth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180977741","content_text":"Summary\n\nPalantir is often criticized for its lofty valuation multiples, stagnating customer base and its bleak margin profile.\nBut the company is actually doing well in terms of customer growth, margin expansion and government order wins.\nInvestors with a long-term time horizon may want to accumulate its shares on potential price corrections.\n\nC Flanigan/Getty Images Entertainment\nPalantir (PLTR) is lately being lambasted in various investing forums on speculative grounds such as how its growth momentum could fizzle out soon, how its margin profile is dragging the company down and that the stock doesn’t justify its price premium. But the company isn't as bad. On the contrary, the data analytics firm is performing well on several parameters – such as customer growth, government order wins and margin expansion – which should come as an encouraging sign for its long-side investors and dispel such speculative bearish narratives. Let's take a closer look.\nRapid Customer Growth\nBears have been criticizing Palantir for its bespoke functionality ever since it went public. Its platforms involve customization for various workflows and customer needs, so bears feel the company faces difficulty in onboarding several customers at once and as a result, it’s bottlenecked and its growth momentum can fizzle out. While I respect contrasting opinions, fact of the matter here is that Palantir doesn’t seem to be struggling with customer adds.\nThe company’s customer count increased by over 7% on a sequential basis in Q1 2021. Our database at Business Quant reveals that this pace of growth is actually higher than that reported by some of the other renowned names in the software application and infrastructure industries. This immediately dispels the narrative that Palantir faces difficulty in scaling customer relationships due to its bespoke features, whenit's performing better than peers in this regard.\n\nThe company’s elevated pace of customer additions shouldn’t come as a surprise to my readers. I’ve explained in my prior articles how the company is undertaking a slew of measures – such as adopting a customer-friendly payment model, ramping up its sales function and introducing free trials for major enterprises – to expand its customer base. These initiatives were announced only a few months ago, and will continue for the rest of FY21, so I expect Palantir to continue adding customers at a rapid rate in near future as well.\nHaving said that, there’s no denying that Palantir’s customer base isn’t as sizable as some of its peers, but that’s also where its growth opportunity lies. It suggests that Palantir is yet to penetrate its target market in a big way and that its lower base effect makes it easier for the company to continue expanding its customer base at elevated rates.\nThere are broadly four takeaways here, which, by the way, the bears seem to discount time and again. These are:\n\nPalantir's target market isn't saturated yet and it can still find new customers with ease,\nThese new customers are bound to lift the company’s revenue higher in 2021 by a varied magnitude, depending on their contract value,\nIf these are recurring contracts, then that’s going to boost Palantir’s future revenue projections and guidance,\nIf these new customers eventually ramp up their spend, then that's also going to boost Palantir’s future cash flows.\n\nRegarding the last bullet, it's worth noting that Palantir’s top 20 customers, in general, have significantly ramped up their spending on the company’s data analytics platforms in each of the last 10 years. This new batch of customers, and any future customer additions, could also go through this spending expansion phase in the subsequent years and gradually boost Palantir’s revenue along the way. So, we must give due importance to its rapid pace of customer adds and not take it lightly.\n(Source: BusinessQuant.com)\nMargin Expansion\nAnother issue with assessing Palantir’s growth prospects is that the company isn’t profitable yet. While some feel the stock will remain subdued due to its weak margin profile, others feel it can collapse down to single digits. The frustration is understandable given the company posted a net loss of $0.07 per share in its most recent quarter.\n(Source:Seeking Alpha)\nBut I wanted to see for myself if Palantir’s margin profile was actually as hopeless as many believe it to be. So, I compiled the margin profiles for about 90 software infrastructure stocks listed on US bourses. There's no denying that the company's net profit margin is in the red. But what's surprising here is that Palantir had actually posted one of the highest sequential net margin expansions in Q1, in its peer group. To the best of my knowledge, this aspect of Palantir’s business hasn’t been discussed on any investing forum.\n(Source: BusinessQuant.com)\nThe company may not have been profitable so far, but that doesn’t mean it will remain unprofitable in the future as well. If its recent pace of margin expansion continues in the next several quarters, the company could become profitable in the next 2 to 3 years without sacrificing on its growth momentum. So, let’s give credit where it’s due. The community of professional analysts also shares this line of thought and projects Palantir's margin profile to materially improve going forward.\n(Source:MarketScreener)\nBesides, with public shareholding involved now, its management is likely to be under constant pressure to deliver breakneck revenue growth rates, and/or achieve profitability in the near future, or risk being voted out of their positions. This pressure may not have been as intense prior to its direct listing, when fewer shareholders were involved. So, overall, I don’t think Palantir’s margin profile is hopeless as many believe it to be, and I expect the company to become profitable by 2024.\nGovernment Contract Wins\nMoving on, Palantir has been doing extremely well when it comes to securing government contracts. B2G contracts are generally tough to win – given the extensive qualification criteria, long turnaround times and heightened competition – but Palantir seems to have the figured out recipe for success on the government side of its business. For the uninitiated, its revenue from government contracts rose 76% year over year, accounted for about 61% of the company's overall revenue, in Q1.\nUnless the company botches up somewhere, these government agencies are likely going to internally recommend it for varied applications. They won’t have to qualify Palantir time and again for several criteria which could drive these internal cross-agency referrals in a speedy manner and these agencies might even ramp up their spending in pre-existing contracts. So, Palantir just needs to rinse-and-repeat its B2G (Business-to-Government) strategy, and its government revenue could continue growing rapidly.\nPalantir has also made steady progress with regards to its government business so far in Q2. Its Q2 is still ongoing, but at the time of this writing, the company has over $36 million worth of new current action obligations from government deals, agreements and contracts, most of which haven’t made the headlines. For the uninitiated, a new deal could be an addition to pre-existing deal, expand the scope of previously agreed upon deliverables, it could be entirely new in nature, have varied execution periods that span from months to years and/or also have a recurring revenue stream attached to it.\n(Source: BusinessQuant.com)\nSo, while there are several variables that prevent us from reliably estimating the near-term revenue impact from these deals, Palantir’s shareholders with a long-term time horizon should feel reassured that their company continues to make steady progress towards growing its government business.\nFinal Thoughts\nPalantir’s shares are currently trading at about 43-times its trailing twelve-month sales which is, undeniably, high by conventional standards.\n(Source: BusinessQuant.com)\nHowever, its rich valuations alone shouldn't be the basis of a bear thesis. Palantir's valuation multiples may be high, but note from the chart above thatits revenue growth rate in Q1 was also higher than most of its peers.\nSo, I believe the price premium is justified by the company’s rapid pace of revenue growth (illustrated in the chart above), its qualitative growth catalysts discussed in this article and its relatively secure government revenue stream.\nKeeping these factors in mind, investors with a multi-year time horizon may want to increase exposure to Palantir on potential price corrections. The stock is likely to reach new highs as its growth catalysts eventually materialize, and as the company approaches profitability, in the next 2 to 3 years. Good Luck!","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":455,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161095287,"gmtCreate":1623895664649,"gmtModify":1634026222878,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Pls like and comment&nbsp;","listText":"Pls like and comment&nbsp;","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/161095287","repostId":"2144713861","repostType":4,"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161098668,"gmtCreate":1623895576954,"gmtModify":1634026225523,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Commented","listText":"Commented","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/161098668","repostId":"2144713861","repostType":4,"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169395299,"gmtCreate":1623816215711,"gmtModify":1634027652980,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Comment pls thanks&nbsp;","listText":"Comment pls thanks&nbsp;","text":"Comment pls thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/169395299","repostId":"1137428482","repostType":4,"repost":{"id":"1137428482","kind":"news","pubTimestamp":1623815725,"share":"https://www.laohu8.com/m/news/1137428482?lang=zh_CN&edition=full","pubTime":"2021-06-16 11:55","market":"us","language":"en","title":"2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137428482","media":"Motley Fool","summary":"The leading premium streaming video service has an online store. It's bigger than you think.","content":"<p>It's easy to be skeptical about last week's launch of&nbsp;<b>Netflix</b>'s(NASDAQ:NFLX)&nbsp;online merch store. The new platform -- available via&nbsp;Netflix.shop-- is limited to selling T-shirts and hoodies themed to its<i>Yasuke</i>and<i>Eden</i>anime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.</p><p><blockquote>人们很容易对上周推出的<b>Netflix</b>（纳斯达克：NFLX）在线merch商店。这个新平台可通过Netflix.shop购买，仅限于销售以其品牌为主题的T恤和帽衫<i>安介</i>和<i>伊甸园</i>动漫。现在只是设计师的街头服饰，而且不便宜。T恤的价格从30美元到45美元不等。Hypland的Yasuke连帽衫将花费你高达82美元，相当于网飞订阅近半年的费用。</blockquote></p><p> However, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.</p><p><blockquote>然而，在你放弃领先的优质视频服务的机会之前，你可能要三思。有一些充分的理由押注Netflix的最新举措。我们去看看。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/434a5606f0aa105dc2200617936db7bd\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Netflix is just getting started</b></p><p><blockquote><b>1.Netflix才刚刚起步</b></blockquote></p><p> This is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate the<i>Yasuke</i>and<i>Eden</i>action figures that Netflix is promising will roll out later this month.</p><p><blockquote>这显然只是Netflix.shop的开场表演。你可以在其他地方以更低的价格买到第三方的——不可否认的——衬衫。将更难复制<i>安介</i>和<i>伊甸园</i>网飞承诺的活动人偶将于本月晚些时候推出。</blockquote></p><p> Limited-edition apparel and decor inspired by<i>Lupin</i>-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusive<i>Stranger Things</i>and<i>The Witcher</i>product lines. Reports also have Netflix working on a<i>Bridgerton</i>clothing line alongside live events. And Fans of<i>La Casa de Papel</i>-- aka<i>Money Heist</i>-- should be on the lookout for proprietary merch.</p><p><blockquote>限量版服装和装饰灵感来自<i>鲁邦</i>——第二季刚刚进入Netflix队列——将于本月登陆数字店面。上周的发布还预告了即将推出的独家<i>奇怪的事情</i>和<i>巫师</i>产品线。有报道称Netflix正在开发一款<i>布里奇顿</i>现场活动旁边的服装系列。和粉丝<i>纸屋</i>——阿卡<i>金钱抢劫</i>--应该留意专有商品。</blockquote></p><p> Don't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.</p><p><blockquote>不要根据你在今天的登陆页面上看到的来判断网飞对实体商品电子零售的新尝试。商店会变得更大，一旦他们根据你最喜欢的节目之一获得新的收入来源，你就会到达那里。</blockquote></p><p> <b>2. Never underestimate the Netflix audience</b></p><p><blockquote><b>2.永远不要低估Netflix的观众</b></blockquote></p><p> It's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?</p><p><blockquote>做空Netflix是不明智的。除非它把事情想透了，否则它不会采取行动。在网飞红包的日子里，我们有多少次要求它通过邮件租用电子游戏？有多少分析师想知道，在这个联网电视费率不断上涨的时代，如果Netflix在其流媒体上销售广告，它能赚多少钱？</blockquote></p><p> Netflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.</p><p><blockquote>网飞比我聪明多了。在如何经营业务方面，它也可能比你更聪明。彭博社报道称，Netflix正在招聘目前尚不存在的消费产品、播客和视频游戏业务的负责人。如果他们看到了曙光——就像我们在消费品上看到的那样——那是因为公司知道自己在做什么。</blockquote></p><p> Netflix had&nbsp;207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.</p><p><blockquote>截至3月底，Netflix拥有2.076亿用户，我们在这里谈论的是整个家庭。触角和广度大于账户基数。这是一群被俘虏的观众，他们每天花几个小时迷失在网飞不断增长的数字内容目录中。</blockquote></p><p> Folks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.</p><p><blockquote>人们相信网飞会把事情做好。他们会留下来，即使这意味着价格继续走高。在过去的七年里，Netflix在美国提高了五次月费率，而在下一次加息到来时，子计数总是更高。</blockquote></p><p> Netflix is a&nbsp;media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride the<i>Ozark</i>roller coaster or experience the<i>Stranger Things</i>dark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike that<i>Ozark</i>coaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.</p><p><blockquote>Netflix是一只媒体股票。传统媒体巨头通过充满活力的消费品销售创造了大量增量收入，这并不奇怪。为什么Netflix——一家多年来一直在收集大量关于你观看习惯的数据的公司——不能像知道你下一步想看什么一样擅长确定你下一步想买什么呢？我们可能永远不会看到主题公园，尽管我会是第一个通过Netflixlandia十字转门排队乘坐主题公园的人<i>欧扎克</i>过山车或体验<i>奇怪的事情</i>黑暗之旅。向积极参与的受众销售独特的商品会容易得多，与此不同<i>欧扎克</i>过山车没有高度要求或座位限制来阻止你充分利用消费品。</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>2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</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\">\n2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-06-16 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's easy to be skeptical about last week's launch of&nbsp;<b>Netflix</b>'s(NASDAQ:NFLX)&nbsp;online merch store. The new platform -- available via&nbsp;Netflix.shop-- is limited to selling T-shirts and hoodies themed to its<i>Yasuke</i>and<i>Eden</i>anime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.</p><p><blockquote>人们很容易对上周推出的<b>Netflix</b>（纳斯达克：NFLX）在线merch商店。这个新平台可通过Netflix.shop购买，仅限于销售以其品牌为主题的T恤和帽衫<i>安介</i>和<i>伊甸园</i>动漫。现在只是设计师的街头服饰，而且不便宜。T恤的价格从30美元到45美元不等。Hypland的Yasuke连帽衫将花费你高达82美元，相当于网飞订阅近半年的费用。</blockquote></p><p> However, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.</p><p><blockquote>然而，在你放弃领先的优质视频服务的机会之前，你可能要三思。有一些充分的理由押注Netflix的最新举措。我们去看看。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/434a5606f0aa105dc2200617936db7bd\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Netflix is just getting started</b></p><p><blockquote><b>1.Netflix才刚刚起步</b></blockquote></p><p> This is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate the<i>Yasuke</i>and<i>Eden</i>action figures that Netflix is promising will roll out later this month.</p><p><blockquote>这显然只是Netflix.shop的开场表演。你可以在其他地方以更低的价格买到第三方的——不可否认的——衬衫。将更难复制<i>安介</i>和<i>伊甸园</i>网飞承诺的活动人偶将于本月晚些时候推出。</blockquote></p><p> Limited-edition apparel and decor inspired by<i>Lupin</i>-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusive<i>Stranger Things</i>and<i>The Witcher</i>product lines. Reports also have Netflix working on a<i>Bridgerton</i>clothing line alongside live events. And Fans of<i>La Casa de Papel</i>-- aka<i>Money Heist</i>-- should be on the lookout for proprietary merch.</p><p><blockquote>限量版服装和装饰灵感来自<i>鲁邦</i>——第二季刚刚进入Netflix队列——将于本月登陆数字店面。上周的发布还预告了即将推出的独家<i>奇怪的事情</i>和<i>巫师</i>产品线。有报道称Netflix正在开发一款<i>布里奇顿</i>现场活动旁边的服装系列。和粉丝<i>纸屋</i>——阿卡<i>金钱抢劫</i>--应该留意专有商品。</blockquote></p><p> Don't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.</p><p><blockquote>不要根据你在今天的登陆页面上看到的来判断网飞对实体商品电子零售的新尝试。商店会变得更大，一旦他们根据你最喜欢的节目之一获得新的收入来源，你就会到达那里。</blockquote></p><p> <b>2. Never underestimate the Netflix audience</b></p><p><blockquote><b>2.永远不要低估Netflix的观众</b></blockquote></p><p> It's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?</p><p><blockquote>做空Netflix是不明智的。除非它把事情想透了，否则它不会采取行动。在网飞红包的日子里，我们有多少次要求它通过邮件租用电子游戏？有多少分析师想知道，在这个联网电视费率不断上涨的时代，如果Netflix在其流媒体上销售广告，它能赚多少钱？</blockquote></p><p> Netflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.</p><p><blockquote>网飞比我聪明多了。在如何经营业务方面，它也可能比你更聪明。彭博社报道称，Netflix正在招聘目前尚不存在的消费产品、播客和视频游戏业务的负责人。如果他们看到了曙光——就像我们在消费品上看到的那样——那是因为公司知道自己在做什么。</blockquote></p><p> Netflix had&nbsp;207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.</p><p><blockquote>截至3月底，Netflix拥有2.076亿用户，我们在这里谈论的是整个家庭。触角和广度大于账户基数。这是一群被俘虏的观众，他们每天花几个小时迷失在网飞不断增长的数字内容目录中。</blockquote></p><p> Folks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.</p><p><blockquote>人们相信网飞会把事情做好。他们会留下来，即使这意味着价格继续走高。在过去的七年里，Netflix在美国提高了五次月费率，而在下一次加息到来时，子计数总是更高。</blockquote></p><p> Netflix is a&nbsp;media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride the<i>Ozark</i>roller coaster or experience the<i>Stranger Things</i>dark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike that<i>Ozark</i>coaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.</p><p><blockquote>Netflix是一只媒体股票。传统媒体巨头通过充满活力的消费品销售创造了大量增量收入，这并不奇怪。为什么Netflix——一家多年来一直在收集大量关于你观看习惯的数据的公司——不能像知道你下一步想看什么一样擅长确定你下一步想买什么呢？我们可能永远不会看到主题公园，尽管我会是第一个通过Netflixlandia十字转门排队乘坐主题公园的人<i>欧扎克</i>过山车或体验<i>奇怪的事情</i>黑暗之旅。向积极参与的受众销售独特的商品会容易得多，与此不同<i>欧扎克</i>过山车没有高度要求或座位限制来阻止你充分利用消费品。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/15/2-reasons-netflix-will-win-its-merchandising-gambi/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞"},"source_url":"https://www.fool.com/investing/2021/06/15/2-reasons-netflix-will-win-its-merchandising-gambi/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137428482","content_text":"It's easy to be skeptical about last week's launch of Netflix's(NASDAQ:NFLX) online merch store. The new platform -- available via Netflix.shop-- is limited to selling T-shirts and hoodies themed to itsYasukeandEdenanime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.\nHowever, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.\nIMAGE SOURCE: GETTY IMAGES.\n1. Netflix is just getting started\nThis is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate theYasukeandEdenaction figures that Netflix is promising will roll out later this month.\nLimited-edition apparel and decor inspired byLupin-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusiveStranger ThingsandThe Witcherproduct lines. Reports also have Netflix working on aBridgertonclothing line alongside live events. And Fans ofLa Casa de Papel-- akaMoney Heist-- should be on the lookout for proprietary merch.\nDon't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.\n2. Never underestimate the Netflix audience\nIt's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?\nNetflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.\nNetflix had 207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.\nFolks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.\nNetflix is a media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride theOzarkroller coaster or experience theStranger Thingsdark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike thatOzarkcoaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169393877,"gmtCreate":1623816089599,"gmtModify":1634027657337,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Commented&nbsp;","listText":"Commented&nbsp;","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169393877","repostId":"1141264092","repostType":4,"repost":{"id":"1141264092","kind":"news","pubTimestamp":1623811561,"share":"https://www.laohu8.com/m/news/1141264092?lang=zh_CN&edition=full","pubTime":"2021-06-16 10:46","market":"us","language":"en","title":"Is Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141264092","media":"seekingalpha","summary":"Summary\n\nFSR is up 72% since my bullish call just a month ago.\nWith that sort of move, caution is wa","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>FSR is up 72% since my bullish call just a month ago.</li>  <li>With that sort of move, caution is warranted on further gains.</li>  <li>New fundamental developments lay out the future path for Fisker.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8cfc5757fb9bcd2dad4f529e916092c\" tg-width=\"768\" tg-height=\"512\"><span>jonathanfilskov-photography/iStock via Getty Images</span></p><p><blockquote><ul><li>自一个月前我看涨看涨期权以来，FSR已上涨72%。</li><li>有了这样的举措，进一步上涨需要谨慎。</li><li>新的基本发展为菲斯克规划了未来的道路。</li></ul><p class=\"t-img-caption\"><span>jonathanfilskov—摄影/iStock来自Getty Images</span></p></blockquote></p><p> The electric vehicle space has been, let’s say, volatile over the past year or so. OG&nbsp;<b>Tesla</b>(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated&nbsp;<b>Fisker Inc.</b>(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.</p><p><blockquote>可以说，电动汽车领域在过去一年左右的时间里一直不稳定。OG<b>特斯拉</b>就市值而言，(TSLA)继续让所有其他竞争者相形见绌，但也有许多新的竞争对手，其中许多都是如此之新，他们甚至还没有任何收入。一个这样的例子就是转世<b>菲斯克公司。</b>(FSR)，这是创始人亨里克·菲斯克(Henrik Fisker)第二次尝试打造电动汽车制造商。</blockquote></p><p> I wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – a<i>massive</i>move in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.</p><p><blockquote>大约一个月前，当股价为10.69美元时，我在Fisker上写了一篇文章，说现在是买入的好时机。股价比今天高出72%-a<i>巨大的</i>在四个星期的时间内移动——但这就是电动汽车游戏的本质。涨72%，大问题是，你继续持有吗？在这种情况下，我认为答案是“不”，但有一些警告。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b7e34a03823eba6302e3194baa808ce\" tg-width=\"640\" tg-height=\"615\"><span>Source: StockCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：股票图表</span></p></blockquote></p><p> First, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares have<i>doubled</i>, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.</p><p><blockquote>首先，让我们看一下图表，它强调了这件事的波动性。在上次低迷期间失去了之前14美元低点的支撑，该股最终跌至9.61美元。此后，股票<i>加倍</i>，我们已经看到菲斯克的情绪完全重置。你必须明白的一件事是，菲斯克和其他零收入电动汽车制造商根据势头和情绪而不是基本面进行交易，所以你必须灵活。</blockquote></p><p> I would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.</p><p><blockquote>我会寻找14美元的低点区域作为下一次回调的支撑，但我也会注意到，它并没有那么强，上次抛售时惨遭失败。但如果股票要反弹，那很可能就是反弹的区域。</blockquote></p><p> I’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.</p><p><blockquote>我还会注意到PPO非常超买，非常接近之前反弹失去动力并最终逆转的水平。这意味着从这里进一步反弹的可能性大大降低，因为多头已经做出了巨大的推动，而且有迹象表明这种推动正在结束，至少是暂时的。</blockquote></p><p> The 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.</p><p><blockquote>14天RSI也表现出类似的行为，因为它在达到极端超买条件后正在滚动。所有这一切的要点是，这只股票在一个月内翻了一番，而且涨势看起来很累。我在这里看不到有意义的更高的合理路径，但在电动汽车领域，任何事情都可能发生。但最重要的是，对我来说，反弹看起来很累，我认为最谨慎的做法是获利了结并等待更低的重新入场。</blockquote></p><p> <b>New developments</b></p><p><blockquote><b>新发展</b></blockquote></p><p> There have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.</p><p><blockquote>自从我上次更新菲斯克以来，出现了一些有趣的发展，随着时间的推移，这些发展有可能推动股价上涨。</blockquote></p><p> First up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.</p><p><blockquote>首先，对菲斯克的空头兴趣正在飙升，在我们今年看到众多被高度做空的股票登上月球之后，这一点值得注意。以下是菲斯克的空头权益，供参考。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd732eb0644d9370ff55d207057d6485\" tg-width=\"640\" tg-height=\"364\"><span>Source: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> Short interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.</p><p><blockquote>自二月份以来，空头兴趣大约翻了两番，并且一直在上升。我们在菲斯克看到的这种反弹可能会导致空头挤压，因为抛物线反弹错误一侧的空头通常会恐慌性买入以回补空头，从而导致空头挤压。</blockquote></p><p> Fisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.</p><p><blockquote>菲斯克目前的反弹缺乏轧空量，因此我坚信这次反弹并不是空头兴趣高的结果，而是买家只是购买该股票。如果空头认输，菲斯克的股价可能会比今天高得多。需要明确的是，我并不是说菲斯克是下一个轧空者，但我想说的是，4500万股空头大约相当于7天的正常交易量，因此意义重大。出于这个原因，我当然也不会在这些水平上做空菲斯克。</blockquote></p><p> In short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.</p><p><blockquote>简而言之，我不认为菲斯克是下一个轧空候选者，因为轧空通常发生在股票处于或接近顶部时，因此大多数或所有卖空者都处于水下。菲斯克远未接近之前的高点，考虑到今天的反弹看起来有多累，我认为发生这种情况的可能性很低。</blockquote></p><p></p><p> From a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.</p><p><blockquote>从基本面角度来看，菲斯克在实现Ocean SUV的生产方面继续取得进展，正如其第一季度报告所证明的那样。该公司本季度末拥有9.85亿美元现金，按照目前的运行速度，这足以维持约10个季度；第一季度，该公司的运营活动支出为2900万美元，资本支出为6600万美元。该公司还表示，大部分海洋已被采购，随着之前的问题已成为答案，这提高了成本可见性。</blockquote></p><p> I don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.</p><p><blockquote>我认为菲斯克在现金方面没有无限的跑道，但它应该有足够的资金来生产海洋，该项目仍定于今年年底或明年初。这非常重要，因为菲斯克需要现金尽快开始流入，否则就需要进一步融资。</blockquote></p><p> Fisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.</p><p><blockquote>Fisker表示，目前它有16,000辆Oceans预订，但正如我们所知，新车的预订对于消费者来说成本非常低，并且并不代表购买义务。有鉴于此，我对它们持保留态度。但从好的方面来说，菲斯克基本上没有做广告，我敢打赌绝大多数美国人不知道菲斯克是什么。这表明可能有一些腿到海洋，但我们必须拭目以待。</blockquote></p><p> Perhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.</p><p><blockquote>也许最重要的是，菲斯克有一个雄心勃勃的计划，生产一款售价低于3万美元的电动汽车，目前称为Project Pear。该公司已与富士康签约生产这款车，但这款车还需要两年左右的时间才能上市。但这代表着菲斯克向变得更加主流迈出了又一步，如果该公司能够执行，它可能会抢占大部分市场份额。我要警告的是，生产3万美元以下的电动汽车不是一项小任务，因为电池非常昂贵。这就是为什么其他人也在努力做同样的事情，我没有理由认为菲斯克不会同样努力。然而，如果Ocean取得成功，并提供资金来开发PEAR，菲斯克可能会参加比赛。PEAR目前只是一个想法，所以不要太兴奋，但菲斯克肯定有宏伟的计划。</blockquote></p><p> <b>Valuation remains mixed</b></p><p><blockquote><b>估值仍然好坏参半</b></blockquote></p><p> The tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.</p><p><blockquote>对初创公司进行估值的棘手之处在于，目标——无论是收入还是盈利——一直在变化。就菲斯克而言，显然有些目标可能有点乐观，尤其是在收入方面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d52fe37a0a60e26d5c3aba548bd4b0b0\" tg-width=\"640\" tg-height=\"166\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Estimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receive<i>any</i>revenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.</p><p><blockquote>过去一个月，对未来几年的预测略有上升——可能是由于分析师将PEAR纳入预测——但在过去六个月中，在某些情况下，预测下降了三分之一。你必须记住，如果你购买了菲斯克不会收到的这只股票<i>任何</i>收入直到明年，即使到那时，进展也会缓慢开始。但如果菲斯克到2025年确实实现80多亿美元的收入，那么今天购买该股票将被证明是一个有先见之明的举动。从现在到那时有太多的步骤，至少可以说，旅程将会非常不稳定。</blockquote></p><p> That is illustrated nicely by EPS estimates.</p><p><blockquote>每股收益估计很好地说明了这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/730bfe2971ecbf2c150c244c474bd7c7\" tg-width=\"640\" tg-height=\"285\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> EPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,<i>after</i>doubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.</p><p><blockquote>几乎可以肯定，至少今年和明年的每股收益将为负值，但如果Ocean的产量按照应有的方式增长，Fisker在2023年实现盈亏平衡的可能性不大。如果实现规模，我们可能会看到非常强劲的每股收益，2025年目前为每股3.72美元，2026年为每股4.95美元。如果Ocean成功，并且Fisker能够生产足够数量的PEAR，这些估计可能会成为现实。但你可以看到市场参与者的惊愕，因为一只五年后每股收益为5美元的股票现在的交易价格为18美元，<i>之后</i>一个月内翻倍。换句话说，股价反映了这样一个事实，即这些估计目前只是猜测。换句话说，如果2026年每股收益在5美元左右有一定的确定性，那么看到该数字的10或12倍，或者股价为50至60美元是合理的。我们只是其中的一小部分，这反映了公司实现这些结果的巨大不确定性。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> The bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.</p><p><blockquote>菲斯克的底线是，该公司远未获得任何有意义的收入，甚至更远未获得利润，因此它主要是一种动量交易。该股在过去一个月里翻了一番，我看到反弹的力度出现了裂缝，因此我认为是时候再次获利了结并等待更低的重新入场价格了。</blockquote></p><p> I think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.</p><p><blockquote>我认为菲斯克有潜力成为长期赢家，但实现这一目标的道路充满了障碍。我再次看到潜在价格和当前价格相当平衡，因此，我对菲斯克恢复中立。</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>Is Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Fisker The Next Short Squeeze?<blockquote>菲斯克是下一个轧空者吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-16 10:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>FSR is up 72% since my bullish call just a month ago.</li>  <li>With that sort of move, caution is warranted on further gains.</li>  <li>New fundamental developments lay out the future path for Fisker.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8cfc5757fb9bcd2dad4f529e916092c\" tg-width=\"768\" tg-height=\"512\"><span>jonathanfilskov-photography/iStock via Getty Images</span></p><p><blockquote><ul><li>自一个月前我看涨看涨期权以来，FSR已上涨72%。</li><li>有了这样的举措，进一步上涨需要谨慎。</li><li>新的基本发展为菲斯克规划了未来的道路。</li></ul><p class=\"t-img-caption\"><span>jonathanfilskov—摄影/iStock来自Getty Images</span></p></blockquote></p><p> The electric vehicle space has been, let’s say, volatile over the past year or so. OG&nbsp;<b>Tesla</b>(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated&nbsp;<b>Fisker Inc.</b>(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.</p><p><blockquote>可以说，电动汽车领域在过去一年左右的时间里一直不稳定。OG<b>特斯拉</b>就市值而言，(TSLA)继续让所有其他竞争者相形见绌，但也有许多新的竞争对手，其中许多都是如此之新，他们甚至还没有任何收入。一个这样的例子就是转世<b>菲斯克公司。</b>(FSR)，这是创始人亨里克·菲斯克(Henrik Fisker)第二次尝试打造电动汽车制造商。</blockquote></p><p> I wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – a<i>massive</i>move in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.</p><p><blockquote>大约一个月前，当股价为10.69美元时，我在Fisker上写了一篇文章，说现在是买入的好时机。股价比今天高出72%-a<i>巨大的</i>在四个星期的时间内移动——但这就是电动汽车游戏的本质。涨72%，大问题是，你继续持有吗？在这种情况下，我认为答案是“不”，但有一些警告。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b7e34a03823eba6302e3194baa808ce\" tg-width=\"640\" tg-height=\"615\"><span>Source: StockCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：股票图表</span></p></blockquote></p><p> First, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares have<i>doubled</i>, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.</p><p><blockquote>首先，让我们看一下图表，它强调了这件事的波动性。在上次低迷期间失去了之前14美元低点的支撑，该股最终跌至9.61美元。此后，股票<i>加倍</i>，我们已经看到菲斯克的情绪完全重置。你必须明白的一件事是，菲斯克和其他零收入电动汽车制造商根据势头和情绪而不是基本面进行交易，所以你必须灵活。</blockquote></p><p> I would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.</p><p><blockquote>我会寻找14美元的低点区域作为下一次回调的支撑，但我也会注意到，它并没有那么强，上次抛售时惨遭失败。但如果股票要反弹，那很可能就是反弹的区域。</blockquote></p><p> I’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.</p><p><blockquote>我还会注意到PPO非常超买，非常接近之前反弹失去动力并最终逆转的水平。这意味着从这里进一步反弹的可能性大大降低，因为多头已经做出了巨大的推动，而且有迹象表明这种推动正在结束，至少是暂时的。</blockquote></p><p> The 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.</p><p><blockquote>14天RSI也表现出类似的行为，因为它在达到极端超买条件后正在滚动。所有这一切的要点是，这只股票在一个月内翻了一番，而且涨势看起来很累。我在这里看不到有意义的更高的合理路径，但在电动汽车领域，任何事情都可能发生。但最重要的是，对我来说，反弹看起来很累，我认为最谨慎的做法是获利了结并等待更低的重新入场。</blockquote></p><p> <b>New developments</b></p><p><blockquote><b>新发展</b></blockquote></p><p> There have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.</p><p><blockquote>自从我上次更新菲斯克以来，出现了一些有趣的发展，随着时间的推移，这些发展有可能推动股价上涨。</blockquote></p><p> First up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.</p><p><blockquote>首先，对菲斯克的空头兴趣正在飙升，在我们今年看到众多被高度做空的股票登上月球之后，这一点值得注意。以下是菲斯克的空头权益，供参考。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fd732eb0644d9370ff55d207057d6485\" tg-width=\"640\" tg-height=\"364\"><span>Source: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> Short interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.</p><p><blockquote>自二月份以来，空头兴趣大约翻了两番，并且一直在上升。我们在菲斯克看到的这种反弹可能会导致空头挤压，因为抛物线反弹错误一侧的空头通常会恐慌性买入以回补空头，从而导致空头挤压。</blockquote></p><p> Fisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.</p><p><blockquote>菲斯克目前的反弹缺乏轧空量，因此我坚信这次反弹并不是空头兴趣高的结果，而是买家只是购买该股票。如果空头认输，菲斯克的股价可能会比今天高得多。需要明确的是，我并不是说菲斯克是下一个轧空者，但我想说的是，4500万股空头大约相当于7天的正常交易量，因此意义重大。出于这个原因，我当然也不会在这些水平上做空菲斯克。</blockquote></p><p> In short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.</p><p><blockquote>简而言之，我不认为菲斯克是下一个轧空候选者，因为轧空通常发生在股票处于或接近顶部时，因此大多数或所有卖空者都处于水下。菲斯克远未接近之前的高点，考虑到今天的反弹看起来有多累，我认为发生这种情况的可能性很低。</blockquote></p><p></p><p> From a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.</p><p><blockquote>从基本面角度来看，菲斯克在实现Ocean SUV的生产方面继续取得进展，正如其第一季度报告所证明的那样。该公司本季度末拥有9.85亿美元现金，按照目前的运行速度，这足以维持约10个季度；第一季度，该公司的运营活动支出为2900万美元，资本支出为6600万美元。该公司还表示，大部分海洋已被采购，随着之前的问题已成为答案，这提高了成本可见性。</blockquote></p><p> I don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.</p><p><blockquote>我认为菲斯克在现金方面没有无限的跑道，但它应该有足够的资金来生产海洋，该项目仍定于今年年底或明年初。这非常重要，因为菲斯克需要现金尽快开始流入，否则就需要进一步融资。</blockquote></p><p> Fisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.</p><p><blockquote>Fisker表示，目前它有16,000辆Oceans预订，但正如我们所知，新车的预订对于消费者来说成本非常低，并且并不代表购买义务。有鉴于此，我对它们持保留态度。但从好的方面来说，菲斯克基本上没有做广告，我敢打赌绝大多数美国人不知道菲斯克是什么。这表明可能有一些腿到海洋，但我们必须拭目以待。</blockquote></p><p> Perhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.</p><p><blockquote>也许最重要的是，菲斯克有一个雄心勃勃的计划，生产一款售价低于3万美元的电动汽车，目前称为Project Pear。该公司已与富士康签约生产这款车，但这款车还需要两年左右的时间才能上市。但这代表着菲斯克向变得更加主流迈出了又一步，如果该公司能够执行，它可能会抢占大部分市场份额。我要警告的是，生产3万美元以下的电动汽车不是一项小任务，因为电池非常昂贵。这就是为什么其他人也在努力做同样的事情，我没有理由认为菲斯克不会同样努力。然而，如果Ocean取得成功，并提供资金来开发PEAR，菲斯克可能会参加比赛。PEAR目前只是一个想法，所以不要太兴奋，但菲斯克肯定有宏伟的计划。</blockquote></p><p> <b>Valuation remains mixed</b></p><p><blockquote><b>估值仍然好坏参半</b></blockquote></p><p> The tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.</p><p><blockquote>对初创公司进行估值的棘手之处在于，目标——无论是收入还是盈利——一直在变化。就菲斯克而言，显然有些目标可能有点乐观，尤其是在收入方面。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d52fe37a0a60e26d5c3aba548bd4b0b0\" tg-width=\"640\" tg-height=\"166\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> Estimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receive<i>any</i>revenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.</p><p><blockquote>过去一个月，对未来几年的预测略有上升——可能是由于分析师将PEAR纳入预测——但在过去六个月中，在某些情况下，预测下降了三分之一。你必须记住，如果你购买了菲斯克不会收到的这只股票<i>任何</i>收入直到明年，即使到那时，进展也会缓慢开始。但如果菲斯克到2025年确实实现80多亿美元的收入，那么今天购买该股票将被证明是一个有先见之明的举动。从现在到那时有太多的步骤，至少可以说，旅程将会非常不稳定。</blockquote></p><p> That is illustrated nicely by EPS estimates.</p><p><blockquote>每股收益估计很好地说明了这一点。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/730bfe2971ecbf2c150c244c474bd7c7\" tg-width=\"640\" tg-height=\"285\"><span>Source:Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：寻求阿尔法</span></p></blockquote></p><p> EPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,<i>after</i>doubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.</p><p><blockquote>几乎可以肯定，至少今年和明年的每股收益将为负值，但如果Ocean的产量按照应有的方式增长，Fisker在2023年实现盈亏平衡的可能性不大。如果实现规模，我们可能会看到非常强劲的每股收益，2025年目前为每股3.72美元，2026年为每股4.95美元。如果Ocean成功，并且Fisker能够生产足够数量的PEAR，这些估计可能会成为现实。但你可以看到市场参与者的惊愕，因为一只五年后每股收益为5美元的股票现在的交易价格为18美元，<i>之后</i>一个月内翻倍。换句话说，股价反映了这样一个事实，即这些估计目前只是猜测。换句话说，如果2026年每股收益在5美元左右有一定的确定性，那么看到该数字的10或12倍，或者股价为50至60美元是合理的。我们只是其中的一小部分，这反映了公司实现这些结果的巨大不确定性。</blockquote></p><p> <b>Final thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> The bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.</p><p><blockquote>菲斯克的底线是，该公司远未获得任何有意义的收入，甚至更远未获得利润，因此它主要是一种动量交易。该股在过去一个月里翻了一番，我看到反弹的力度出现了裂缝，因此我认为是时候再次获利了结并等待更低的重新入场价格了。</blockquote></p><p> I think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.</p><p><blockquote>我认为菲斯克有潜力成为长期赢家，但实现这一目标的道路充满了障碍。我再次看到潜在价格和当前价格相当平衡，因此，我对菲斯克恢复中立。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4434973-is-fisker-the-next-short-squeeze\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSR":"菲斯克"},"source_url":"https://seekingalpha.com/article/4434973-is-fisker-the-next-short-squeeze","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141264092","content_text":"Summary\n\nFSR is up 72% since my bullish call just a month ago.\nWith that sort of move, caution is warranted on further gains.\nNew fundamental developments lay out the future path for Fisker.\n\njonathanfilskov-photography/iStock via Getty Images\nThe electric vehicle space has been, let’s say, volatile over the past year or so. OG Tesla(TSLA) continues to dwarf all other comers in terms of market cap, but there are numerous new competitors, many of which are so new, they don’t even have any revenue yet. One such example is the reincarnated Fisker Inc.(FSR), which is founder Henrik Fisker’s second go at making an electric automaker.\nI wrote apieceon Fisker about a month ago when the share price was $10.69, saying it was a great time to buy. Shares are 72% higher than that today – amassivemove in the space of four weeks – but such is the nature of the game in electric vehicles. Up 72%, the big question is, do you continue to hold? In this case, I think the answer is “no”, but with some caveats.\nSource: StockCharts\nFirst, let’s take a look at the chart, which highlights just how volatile this thing really is. Prior support in the low-$14s was lost during the last downturn, and the stock eventually bottomed at $9.61. Since then, shares havedoubled, and we’ve seen a complete reset in terms of sentiment for Fisker. One thing you must understand is that Fisker and other zero-revenue EV makers trade on momentum and sentiment rather than fundamentals, so you must be nimble.\nI would look for that low-$14 area to hold as support on the next pullback, but I’ll also note that it isn’t all that strong, having failed miserably last time there was a selloff. But if the stock is going to bounce, that will likely be the area it will happen.\nI’ll also note the PPO is very overbought, and is very close to the same levels where prior rallies have lost steam and eventually rolled over. That means the odds of a further rally from here are greatly diminishing, as the bulls have made a Herculean push already, and there are signs the push is ending, at least temporarily.\nThe 14-day RSI is showing similar behavior, as it is rolling over after reaching extreme overbought conditions. The point of all of this is that this stock has doubled in the space of a month, and the rally looks tired. I don’t see a reasonable path meaningfully higher here, but in the EV space, anything can happen. But the bottom line is that the rally looks tired to me, and I think the most prudent course of action is to take profits and wait for a lower re-entry.\nNew developments\nThere have been some interesting developments since my last update on Fisker, and ones that have the potential to drive the share price over time.\nFirst up, short interest in Fisker is soaring, and after the numerous highly-shorted stocks we’ve seen go to the moon this year, that’s worth noting. Below is Fisker’s short interest for reference.\nSource: YCharts\nShort interest has roughly quadrupled since February, and is rising all the time. The kinds of rallies that we’ve seen in Fisker can cause short squeezes because shorts on the wrong side of a parabolic rally can often panic buy to cover their shorts, leading to a short squeeze.\nFisker’s current rally lacks the volume of a short squeeze, so I firmly believe this rally is not a result of high short interest, but is instead buyers just buying the stock. If shorts throw in the towel, Fisker could squeeze a lot higher than it is today. To be clear, I’m not saying Fisker is the next short squeeze, but what I am saying is that 45M shares short is roughly seven days’ worth of normal volume, so it’s significant. I certainly also would not short Fisker at these levels for that reason.\nIn short, I do not believe Fisker is the next short squeeze candidate because squeezes usually occur when a stock is at or near a top, and thus most or all short sellers are underwater. Fisker isn't anywhere close to its former high, and given how tired the rally looks today, I see the odds of that occurring as low.\nFrom a fundamental perspective, Fisker continues to make progress towards making production a reality of its Ocean SUV, as evidenced in itsQ1 report. The company ended the quarter with $985 million in cash, which is good enough for about 10 quarters at the current run rate; in Q1, the company spent $29 million on operating activities, and $66 million in capex. The company also said the majority of the Ocean has been sourced, which is improving cost visibility as prior questions have become answers.\nI don’t think Fisker has unlimited runway in terms of cash, but it should have enough to get to production of the Ocean, which is still slated for late this year, or early next year. That’s very important because Fisker needs the cash to start rolling in fairly soon, or further capital raises will be necessary.\nFisker says it has 16k reservations for Oceans at this point, but as we know, reservations for new vehicles are very low cost for the consumer, and don’t represent an obligation to buy. Given this, I take them with a grain of salt. But on the plus side, Fisker has done essentially no advertising, and I’d be willing to bet the vast majority of Americans have no idea what Fisker is. That indicates that there may be some legs to the Ocean, but we’ll have to wait and see.\nPerhaps most importantly, Fisker has an ambitious plan to produce a sub-$30k EV, currently calledProject PEAR. The company has signed Foxconn to make the vehicle, which won’t be available for another two years or so. But it represents another step towards Fisker becoming more mainstream, and if the company can execute, it could grab big chunks of market share. I’ll caveat that producing sub-$30k EVs is no small task because the batteries are very expensive. This is why others have struggled to do the same thing, and I have no reason to think Fisker won’t struggle as well. However, if the Ocean is a success, and provides the cash to develop PEAR, Fisker could be off to the races. PEAR is just an idea at this point, so don’t get too excited, but Fisker certainly has grand plans.\nValuation remains mixed\nThe tricky thing about valuing startups is that the targets – whether it is revenue or earnings – move all the time. In Fisker’s case, it is apparent that some targets were probably a bit optimistic, especially for revenue.\nSource:Seeking Alpha\nEstimates for the out years have come up slightly in the past month – likely due to analysts building PEAR into projections – but in the past six months, estimates are off by a third in some cases. You have to remember if you buy this stock that Fisker isn’t slated to receiveanyrevenue until next year, and even then, progress will start slowly. But if Fisker does achieve $8+ billion in revenue by 2025, buying the stock today will have proven a prescient move. There are just so many steps between now and then that the ride will be extremely volatile to say the least.\nThat is illustrated nicely by EPS estimates.\nSource:Seeking Alpha\nEPS is almost certainly going to be negative for at least this year and next year, but if production ramps the way it should for Ocean, Fisker has an outside chance at hitting breakeven in 2023. If scale is achieved, we could see very strong EPS, with 2025 current at $3.72 per share, and 2026 at $4.95. If Ocean succeeds, and Fisker can produce PEAR in sufficient numbers, these estimates could become reality. But you can see the consternation among market participants in that a stock with $5 in EPS five years from now is trading for $18,afterdoubling in a month. In other words, the share price is pricing in the fact that these estimates are simply guesses at this point. Said another way, if there was some certainty around $5 in EPS in 2026, it would be reasonable to see a multiple of 10 or 12 on that number, or a share price of $50 to $60. We're at a small fraction of that, which is pricing in the massive uncertainty of the company achieving these results.\nFinal thoughts\nThe bottom line on Fisker is that the company is so far from making any sort of meaningful revenue – and even further from profits – that it is mostly a momentum trade as a result. The stock has doubled in the past month, and I see cracks in the rally’s strength, so I think it is once again time to take profits and wait for a lower re-entry price.\nI think Fisker has the potential to be a winner in the long-term, but the path to get there is fraught with obstacles. I once again see potential and current price fairly balanced, and for that reason, I’m back to neutral on Fisker.","news_type":1,"symbols_score_info":{"FSR":0.9}},"isVote":1,"tweetType":1,"viewCount":673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169399599,"gmtCreate":1623816065711,"gmtModify":1634027657950,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Commented&nbsp;","listText":"Commented&nbsp;","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169399599","repostId":"169967518","repostType":1,"repost":{"id":169967518,"gmtCreate":1623813203934,"gmtModify":1623814883601,"author":{"id":"3503452965237041","authorId":"3503452965237041","name":"美股研究社","avatar":"https://static.tigerbbs.com/a239c7906133df1f3817d0746a8a0ba1","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3503452965237041","idStr":"3503452965237041"},"themes":[],"title":"“清研精准”元A轮融资，领投机构为百度、小苗朗程","htmlText":"美股研究社消息，企查查APP显示，6月16日，“清研精准”完成A轮融资，领投机构为百度、小苗朗程，跟投机构为京福资产、奇绩创坛，融资金额数千万人民币。企查查信息显示，“清研精准”是一家智能电动汽车全生命周期检测平台，隶属于苏州清研精准汽车科技有限公司，该公司成立于2018年，法定代表人为董汉，注册资本295.238万元人民币，经营范围包含：检验检测服务；机动车检验检测服务；汽车租赁；新能源汽车整车销售；汽车零部件及配件制造；汽车零配件零售等。本文来源：美股研究社，旨在帮助中国投资者理解世界，专注报道美国科技股和中概股，对美股感兴趣的朋友赶紧关注我们","listText":"美股研究社消息，企查查APP显示，6月16日，“清研精准”完成A轮融资，领投机构为百度、小苗朗程，跟投机构为京福资产、奇绩创坛，融资金额数千万人民币。企查查信息显示，“清研精准”是一家智能电动汽车全生命周期检测平台，隶属于苏州清研精准汽车科技有限公司，该公司成立于2018年，法定代表人为董汉，注册资本295.238万元人民币，经营范围包含：检验检测服务；机动车检验检测服务；汽车租赁；新能源汽车整车销售；汽车零部件及配件制造；汽车零配件零售等。本文来源：美股研究社，旨在帮助中国投资者理解世界，专注报道美国科技股和中概股，对美股感兴趣的朋友赶紧关注我们","text":"美股研究社消息，企查查APP显示，6月16日，“清研精准”完成A轮融资，领投机构为百度、小苗朗程，跟投机构为京福资产、奇绩创坛，融资金额数千万人民币。企查查信息显示，“清研精准”是一家智能电动汽车全生命周期检测平台，隶属于苏州清研精准汽车科技有限公司，该公司成立于2018年，法定代表人为董汉，注册资本295.238万元人民币，经营范围包含：检验检测服务；机动车检验检测服务；汽车租赁；新能源汽车整车销售；汽车零部件及配件制造；汽车零配件零售等。本文来源：美股研究社，旨在帮助中国投资者理解世界，专注报道美国科技股和中概股，对美股感兴趣的朋友赶紧关注我们","images":[{"img":"https://static.tigerbbs.com/0285a385ea358ee140d07c2407dad1fc","width":"1200","height":"720"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169967518","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169399150,"gmtCreate":1623816036570,"gmtModify":1634027658072,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Commented&nbsp;","listText":"Commented&nbsp;","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/169399150","repostId":"2143680537","repostType":4,"isVote":1,"tweetType":1,"viewCount":566,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169307107,"gmtCreate":1623815970709,"gmtModify":1634027659355,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3586767743717067","idStr":"3586767743717067"},"themes":[],"htmlText":"Commented&nbsp;","listText":"Commented&nbsp;","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/169307107","repostId":"1180909583","repostType":4,"repost":{"id":"1180909583","kind":"news","pubTimestamp":1623812789,"share":"https://www.laohu8.com/m/news/1180909583?lang=zh_CN&edition=full","pubTime":"2021-06-16 11:06","market":"us","language":"en","title":"SPACs could stage a summer comeback<blockquote>SPAC可能会在夏季卷土重来</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180909583","media":"CNN Business","summary":"London (CNN Business) - Special-purpose acquisition companies, or SPACs, were one of the stock marke","content":"<p><b>London (CNN Business)&nbsp;-&nbsp;</b>Special-purpose acquisition companies, or SPACs, were one of the stock market's hottest trends in early 2021, drawing in billionaires, celebrities and athletes.</p><p><blockquote><b>伦敦（CNN商业）——</b>特殊目的收购公司（SPAC）是2021年初股市最热门的趋势之一，吸引了亿万富翁、名人和运动员。</blockquote></p><p> Then, in early spring, enthusiasm&nbsp;began to wane, as \"blank check\" firms — which raise money from investors and then go hunting for takeover targets — started to receive greater scrutiny from lawmakers and regulators in Washington.</p><p><blockquote>然后，在早春，热情开始消退，因为“空白支票”公司——从投资者那里筹集资金，然后寻找收购目标——开始受到华盛顿立法者和监管机构的更严格审查。</blockquote></p><p> \"I have deep concerns about the lack of transparency and accountability that is a hallmark of the SPAC process,\" Rep. Maxine Waters, the chair of the House Financial Services Committee, said at a&nbsp;hearing last month.</p><p><blockquote>众议院金融服务委员会主席、众议员玛克辛·沃特斯(Maxine Waters)在上个月的听证会上表示：“我对SPAC流程缺乏透明度和问责制深感担忧，这是SPAC流程的标志。”</blockquote></p><p> But SPACs could be coming back into vogue. Nine new SPACs raised $1.4 billion last week, according to Bill Smith of Renaissance Capital, making it the busiest week since March.</p><p><blockquote>但SPAC可能会重新流行起来。据Renaissance Capital的Bill Smith称，上周有9家新的SPAC筹集了14亿美元，这是自3月份以来最繁忙的一周。</blockquote></p><p> More data: It's clear there's been a marked slowdown. So far this quarter, just 50 new SPACs have listed globally, raising $10.9 billion, according to Dealogic data provided to CNN Business. That's compared to 304 listings that raised $98.4 billion between January and March.</p><p><blockquote>更多数据：很明显，经济增速明显放缓。根据Dealogic向CNN Business提供的数据，本季度迄今为止，全球仅有50家新SPAC上市，筹集了109亿美元。相比之下，1月至3月期间有304家上市公司筹集了984亿美元。</blockquote></p><p> Activity could pick back up, however, as investors continue to hunt for creative places to park their money. According to a Bank of America survey published Tuesday, 18% of global fund managers say they are taking higher-than-normal risks, up 4 percentage points compared to the previous month.</p><p><blockquote>然而，随着投资者继续寻找有创意的地方来存放资金，活动可能会回升。美国银行周二公布的一项调查显示，18%的全球基金经理表示，他们承担的风险高于正常水平，较上月上升4个百分点。</blockquote></p><p> Watch this space: While there is still skepticism among some startups that merging with a SPAC is the best way to go public, there are firms willing to take this route instead of pursuing a traditional initial public offering.</p><p><blockquote>关注这个领域：虽然一些初创公司仍然怀疑与SPAC合并是上市的最佳方式，但也有公司愿意走这条路，而不是追求传统的首次公开募股。</blockquote></p><p> On Monday, online grocery shop Boxed&nbsp;announced it was going public&nbsp;in an $887 million deal with a SPAC called Seven Oaks Acquisition Corp.</p><p><blockquote>周一，在线杂货店Boxed宣布将与一家名为Seven Oaks Acquisition Corp.的SPAC进行8.87亿美元的交易。</blockquote></p><p> And last week, Vertical Aerospace, a UK electric aircraft manufacturer, said it wouldgo publicby merging with the New York SPAC Broadstone Acquisition Corp., while the banking app Dave said it would merge with a SPAC sponsored by the investment firm Victory Park Capital.</p><p><blockquote>上周，英国电动飞机制造商Vertical Aerospace表示将与纽约SPAC Broadstone Acquisition Corp.合并上市，而银行应用程序Dave表示将与投资公司Victory Park Capital赞助的SPAC合并。</blockquote></p><p> Hedge fund billionaire Bill Ackman's SPAC is also said to be&nbsp;nearing a complex deal&nbsp;with Universal Music Group that would value the business at $40 billion.</p><p><blockquote>据称，对冲基金亿万富翁比尔·阿克曼(Bill Ackman)的SPAC也即将与环球音乐集团(Universal Music Group)达成一项复杂的交易，该交易的估值将达到400亿美元。</blockquote></p><p> The success of these arrangements may dictate whether other SPACs searching for companies to take public can do so with ease.So far this quarter, there have been 63 SPAC merger announcements globally, with deal value topping $140.6 billion, according to Dealogic. That's down from 100 SPAC deals worth $227 billion in the first three months of the year.</p><p><blockquote>这些安排的成功可能决定其他寻找公司上市的SPAC是否能够轻松做到这一点。Dealogic的数据显示，本季度迄今为止，全球已有63起SPAC合并公告，交易价值超过1406亿美元。这低于今年前三个月价值2270亿美元的100笔SPAC交易。</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>SPACs could stage a summer comeback<blockquote>SPAC可能会在夏季卷土重来</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\">\nSPACs could stage a summer comeback<blockquote>SPAC可能会在夏季卷土重来</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-06-16 11:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>London (CNN Business)&nbsp;-&nbsp;</b>Special-purpose acquisition companies, or SPACs, were one of the stock market's hottest trends in early 2021, drawing in billionaires, celebrities and athletes.</p><p><blockquote><b>伦敦（CNN商业）——</b>特殊目的收购公司（SPAC）是2021年初股市最热门的趋势之一，吸引了亿万富翁、名人和运动员。</blockquote></p><p> Then, in early spring, enthusiasm&nbsp;began to wane, as \"blank check\" firms — which raise money from investors and then go hunting for takeover targets — started to receive greater scrutiny from lawmakers and regulators in Washington.</p><p><blockquote>然后，在早春，热情开始消退，因为“空白支票”公司——从投资者那里筹集资金，然后寻找收购目标——开始受到华盛顿立法者和监管机构的更严格审查。</blockquote></p><p> \"I have deep concerns about the lack of transparency and accountability that is a hallmark of the SPAC process,\" Rep. Maxine Waters, the chair of the House Financial Services Committee, said at a&nbsp;hearing last month.</p><p><blockquote>众议院金融服务委员会主席、众议员玛克辛·沃特斯(Maxine Waters)在上个月的听证会上表示：“我对SPAC流程缺乏透明度和问责制深感担忧，这是SPAC流程的标志。”</blockquote></p><p> But SPACs could be coming back into vogue. Nine new SPACs raised $1.4 billion last week, according to Bill Smith of Renaissance Capital, making it the busiest week since March.</p><p><blockquote>但SPAC可能会重新流行起来。据Renaissance Capital的Bill Smith称，上周有9家新的SPAC筹集了14亿美元，这是自3月份以来最繁忙的一周。</blockquote></p><p> More data: It's clear there's been a marked slowdown. So far this quarter, just 50 new SPACs have listed globally, raising $10.9 billion, according to Dealogic data provided to CNN Business. That's compared to 304 listings that raised $98.4 billion between January and March.</p><p><blockquote>更多数据：很明显，经济增速明显放缓。根据Dealogic向CNN Business提供的数据，本季度迄今为止，全球仅有50家新SPAC上市，筹集了109亿美元。相比之下，1月至3月期间有304家上市公司筹集了984亿美元。</blockquote></p><p> Activity could pick back up, however, as investors continue to hunt for creative places to park their money. According to a Bank of America survey published Tuesday, 18% of global fund managers say they are taking higher-than-normal risks, up 4 percentage points compared to the previous month.</p><p><blockquote>然而，随着投资者继续寻找有创意的地方来存放资金，活动可能会回升。美国银行周二公布的一项调查显示，18%的全球基金经理表示，他们承担的风险高于正常水平，较上月上升4个百分点。</blockquote></p><p> Watch this space: While there is still skepticism among some startups that merging with a SPAC is the best way to go public, there are firms willing to take this route instead of pursuing a traditional initial public offering.</p><p><blockquote>关注这个领域：虽然一些初创公司仍然怀疑与SPAC合并是上市的最佳方式，但也有公司愿意走这条路，而不是追求传统的首次公开募股。</blockquote></p><p> On Monday, online grocery shop Boxed&nbsp;announced it was going public&nbsp;in an $887 million deal with a SPAC called Seven Oaks Acquisition Corp.</p><p><blockquote>周一，在线杂货店Boxed宣布将与一家名为Seven Oaks Acquisition Corp.的SPAC进行8.87亿美元的交易。</blockquote></p><p> And last week, Vertical Aerospace, a UK electric aircraft manufacturer, said it wouldgo publicby merging with the New York SPAC Broadstone Acquisition Corp., while the banking app Dave said it would merge with a SPAC sponsored by the investment firm Victory Park Capital.</p><p><blockquote>上周，英国电动飞机制造商Vertical Aerospace表示将与纽约SPAC Broadstone Acquisition Corp.合并上市，而银行应用程序Dave表示将与投资公司Victory Park Capital赞助的SPAC合并。</blockquote></p><p> Hedge fund billionaire Bill Ackman's SPAC is also said to be&nbsp;nearing a complex deal&nbsp;with Universal Music Group that would value the business at $40 billion.</p><p><blockquote>据称，对冲基金亿万富翁比尔·阿克曼(Bill Ackman)的SPAC也即将与环球音乐集团(Universal Music Group)达成一项复杂的交易，该交易的估值将达到400亿美元。</blockquote></p><p> The success of these arrangements may dictate whether other SPACs searching for companies to take public can do so with ease.So far this quarter, there have been 63 SPAC merger announcements globally, with deal value topping $140.6 billion, according to Dealogic. That's down from 100 SPAC deals worth $227 billion in the first three months of the year.</p><p><blockquote>这些安排的成功可能决定其他寻找公司上市的SPAC是否能够轻松做到这一点。Dealogic的数据显示，本季度迄今为止，全球已有63起SPAC合并公告，交易价值超过1406亿美元。这低于今年前三个月价值2270亿美元的100笔SPAC交易。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/06/15/investing/premarket-stocks-trading/index.html\">CNN Business</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",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/06/15/investing/premarket-stocks-trading/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180909583","content_text":"London (CNN Business) - Special-purpose acquisition companies, or SPACs, were one of the stock market's hottest trends in early 2021, drawing in billionaires, celebrities and athletes.\nThen, in early spring, enthusiasm began to wane, as \"blank check\" firms — which raise money from investors and then go hunting for takeover targets — started to receive greater scrutiny from lawmakers and regulators in Washington.\n\"I have deep concerns about the lack of transparency and accountability that is a hallmark of the SPAC process,\" Rep. Maxine Waters, the chair of the House Financial Services Committee, said at a hearing last month.\nBut SPACs could be coming back into vogue. Nine new SPACs raised $1.4 billion last week, according to Bill Smith of Renaissance Capital, making it the busiest week since March.\nMore data: It's clear there's been a marked slowdown. So far this quarter, just 50 new SPACs have listed globally, raising $10.9 billion, according to Dealogic data provided to CNN Business. That's compared to 304 listings that raised $98.4 billion between January and March.\nActivity could pick back up, however, as investors continue to hunt for creative places to park their money. According to a Bank of America survey published Tuesday, 18% of global fund managers say they are taking higher-than-normal risks, up 4 percentage points compared to the previous month.\nWatch this space: While there is still skepticism among some startups that merging with a SPAC is the best way to go public, there are firms willing to take this route instead of pursuing a traditional initial public offering.\nOn Monday, online grocery shop Boxed announced it was going public in an $887 million deal with a SPAC called Seven Oaks Acquisition Corp.\nAnd last week, Vertical Aerospace, a UK electric aircraft manufacturer, said it wouldgo publicby merging with the New York SPAC Broadstone Acquisition Corp., while the banking app Dave said it would merge with a SPAC sponsored by the investment firm Victory Park Capital.\nHedge fund billionaire Bill Ackman's SPAC is also said to be nearing a complex deal with Universal Music Group that would value the business at $40 billion.\nThe success of these arrangements may dictate whether other SPACs searching for companies to take public can do so with ease.So far this quarter, there have been 63 SPAC merger announcements globally, with deal value topping $140.6 billion, according to Dealogic. That's down from 100 SPAC deals worth $227 billion in the first three months of the year.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":463,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":161095287,"gmtCreate":1623895664649,"gmtModify":1634026222878,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586767743717067","authorIdStr":"3586767743717067"},"themes":[],"htmlText":"Pls like and comment&nbsp;","listText":"Pls like and comment&nbsp;","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/161095287","repostId":"2144713861","repostType":4,"isVote":1,"tweetType":1,"viewCount":448,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169395299,"gmtCreate":1623816215711,"gmtModify":1634027652980,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586767743717067","authorIdStr":"3586767743717067"},"themes":[],"htmlText":"Comment pls thanks&nbsp;","listText":"Comment pls thanks&nbsp;","text":"Comment pls thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/169395299","repostId":"1137428482","repostType":4,"repost":{"id":"1137428482","kind":"news","pubTimestamp":1623815725,"share":"https://www.laohu8.com/m/news/1137428482?lang=zh_CN&edition=full","pubTime":"2021-06-16 11:55","market":"us","language":"en","title":"2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137428482","media":"Motley Fool","summary":"The leading premium streaming video service has an online store. It's bigger than you think.","content":"<p>It's easy to be skeptical about last week's launch of&nbsp;<b>Netflix</b>'s(NASDAQ:NFLX)&nbsp;online merch store. The new platform -- available via&nbsp;Netflix.shop-- is limited to selling T-shirts and hoodies themed to its<i>Yasuke</i>and<i>Eden</i>anime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.</p><p><blockquote>人们很容易对上周推出的<b>Netflix</b>（纳斯达克：NFLX）在线merch商店。这个新平台可通过Netflix.shop购买，仅限于销售以其品牌为主题的T恤和帽衫<i>安介</i>和<i>伊甸园</i>动漫。现在只是设计师的街头服饰，而且不便宜。T恤的价格从30美元到45美元不等。Hypland的Yasuke连帽衫将花费你高达82美元，相当于网飞订阅近半年的费用。</blockquote></p><p> However, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.</p><p><blockquote>然而，在你放弃领先的优质视频服务的机会之前，你可能要三思。有一些充分的理由押注Netflix的最新举措。我们去看看。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/434a5606f0aa105dc2200617936db7bd\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Netflix is just getting started</b></p><p><blockquote><b>1.Netflix才刚刚起步</b></blockquote></p><p> This is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate the<i>Yasuke</i>and<i>Eden</i>action figures that Netflix is promising will roll out later this month.</p><p><blockquote>这显然只是Netflix.shop的开场表演。你可以在其他地方以更低的价格买到第三方的——不可否认的——衬衫。将更难复制<i>安介</i>和<i>伊甸园</i>网飞承诺的活动人偶将于本月晚些时候推出。</blockquote></p><p> Limited-edition apparel and decor inspired by<i>Lupin</i>-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusive<i>Stranger Things</i>and<i>The Witcher</i>product lines. Reports also have Netflix working on a<i>Bridgerton</i>clothing line alongside live events. And Fans of<i>La Casa de Papel</i>-- aka<i>Money Heist</i>-- should be on the lookout for proprietary merch.</p><p><blockquote>限量版服装和装饰灵感来自<i>鲁邦</i>——第二季刚刚进入Netflix队列——将于本月登陆数字店面。上周的发布还预告了即将推出的独家<i>奇怪的事情</i>和<i>巫师</i>产品线。有报道称Netflix正在开发一款<i>布里奇顿</i>现场活动旁边的服装系列。和粉丝<i>纸屋</i>——阿卡<i>金钱抢劫</i>--应该留意专有商品。</blockquote></p><p> Don't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.</p><p><blockquote>不要根据你在今天的登陆页面上看到的来判断网飞对实体商品电子零售的新尝试。商店会变得更大，一旦他们根据你最喜欢的节目之一获得新的收入来源，你就会到达那里。</blockquote></p><p> <b>2. Never underestimate the Netflix audience</b></p><p><blockquote><b>2.永远不要低估Netflix的观众</b></blockquote></p><p> It's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?</p><p><blockquote>做空Netflix是不明智的。除非它把事情想透了，否则它不会采取行动。在网飞红包的日子里，我们有多少次要求它通过邮件租用电子游戏？有多少分析师想知道，在这个联网电视费率不断上涨的时代，如果Netflix在其流媒体上销售广告，它能赚多少钱？</blockquote></p><p> Netflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.</p><p><blockquote>网飞比我聪明多了。在如何经营业务方面，它也可能比你更聪明。彭博社报道称，Netflix正在招聘目前尚不存在的消费产品、播客和视频游戏业务的负责人。如果他们看到了曙光——就像我们在消费品上看到的那样——那是因为公司知道自己在做什么。</blockquote></p><p> Netflix had&nbsp;207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.</p><p><blockquote>截至3月底，Netflix拥有2.076亿用户，我们在这里谈论的是整个家庭。触角和广度大于账户基数。这是一群被俘虏的观众，他们每天花几个小时迷失在网飞不断增长的数字内容目录中。</blockquote></p><p> Folks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.</p><p><blockquote>人们相信网飞会把事情做好。他们会留下来，即使这意味着价格继续走高。在过去的七年里，Netflix在美国提高了五次月费率，而在下一次加息到来时，子计数总是更高。</blockquote></p><p> Netflix is a&nbsp;media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride the<i>Ozark</i>roller coaster or experience the<i>Stranger Things</i>dark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike that<i>Ozark</i>coaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.</p><p><blockquote>Netflix是一只媒体股票。传统媒体巨头通过充满活力的消费品销售创造了大量增量收入，这并不奇怪。为什么Netflix——一家多年来一直在收集大量关于你观看习惯的数据的公司——不能像知道你下一步想看什么一样擅长确定你下一步想买什么呢？我们可能永远不会看到主题公园，尽管我会是第一个通过Netflixlandia十字转门排队乘坐主题公园的人<i>欧扎克</i>过山车或体验<i>奇怪的事情</i>黑暗之旅。向积极参与的受众销售独特的商品会容易得多，与此不同<i>欧扎克</i>过山车没有高度要求或座位限制来阻止你充分利用消费品。</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>2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</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\">\n2 Reasons Netflix Will Win Its Merchandising Gambit<blockquote>Netflix赢得营销策略的2个原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-06-16 11:55</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It's easy to be skeptical about last week's launch of&nbsp;<b>Netflix</b>'s(NASDAQ:NFLX)&nbsp;online merch store. The new platform -- available via&nbsp;Netflix.shop-- is limited to selling T-shirts and hoodies themed to its<i>Yasuke</i>and<i>Eden</i>anime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.</p><p><blockquote>人们很容易对上周推出的<b>Netflix</b>（纳斯达克：NFLX）在线merch商店。这个新平台可通过Netflix.shop购买，仅限于销售以其品牌为主题的T恤和帽衫<i>安介</i>和<i>伊甸园</i>动漫。现在只是设计师的街头服饰，而且不便宜。T恤的价格从30美元到45美元不等。Hypland的Yasuke连帽衫将花费你高达82美元，相当于网飞订阅近半年的费用。</blockquote></p><p> However, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.</p><p><blockquote>然而，在你放弃领先的优质视频服务的机会之前，你可能要三思。有一些充分的理由押注Netflix的最新举措。我们去看看。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/434a5606f0aa105dc2200617936db7bd\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>1. Netflix is just getting started</b></p><p><blockquote><b>1.Netflix才刚刚起步</b></blockquote></p><p> This is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate the<i>Yasuke</i>and<i>Eden</i>action figures that Netflix is promising will roll out later this month.</p><p><blockquote>这显然只是Netflix.shop的开场表演。你可以在其他地方以更低的价格买到第三方的——不可否认的——衬衫。将更难复制<i>安介</i>和<i>伊甸园</i>网飞承诺的活动人偶将于本月晚些时候推出。</blockquote></p><p> Limited-edition apparel and decor inspired by<i>Lupin</i>-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusive<i>Stranger Things</i>and<i>The Witcher</i>product lines. Reports also have Netflix working on a<i>Bridgerton</i>clothing line alongside live events. And Fans of<i>La Casa de Papel</i>-- aka<i>Money Heist</i>-- should be on the lookout for proprietary merch.</p><p><blockquote>限量版服装和装饰灵感来自<i>鲁邦</i>——第二季刚刚进入Netflix队列——将于本月登陆数字店面。上周的发布还预告了即将推出的独家<i>奇怪的事情</i>和<i>巫师</i>产品线。有报道称Netflix正在开发一款<i>布里奇顿</i>现场活动旁边的服装系列。和粉丝<i>纸屋</i>——阿卡<i>金钱抢劫</i>--应该留意专有商品。</blockquote></p><p> Don't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.</p><p><blockquote>不要根据你在今天的登陆页面上看到的来判断网飞对实体商品电子零售的新尝试。商店会变得更大，一旦他们根据你最喜欢的节目之一获得新的收入来源，你就会到达那里。</blockquote></p><p> <b>2. Never underestimate the Netflix audience</b></p><p><blockquote><b>2.永远不要低估Netflix的观众</b></blockquote></p><p> It's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?</p><p><blockquote>做空Netflix是不明智的。除非它把事情想透了，否则它不会采取行动。在网飞红包的日子里，我们有多少次要求它通过邮件租用电子游戏？有多少分析师想知道，在这个联网电视费率不断上涨的时代，如果Netflix在其流媒体上销售广告，它能赚多少钱？</blockquote></p><p> Netflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.</p><p><blockquote>网飞比我聪明多了。在如何经营业务方面，它也可能比你更聪明。彭博社报道称，Netflix正在招聘目前尚不存在的消费产品、播客和视频游戏业务的负责人。如果他们看到了曙光——就像我们在消费品上看到的那样——那是因为公司知道自己在做什么。</blockquote></p><p> Netflix had&nbsp;207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.</p><p><blockquote>截至3月底，Netflix拥有2.076亿用户，我们在这里谈论的是整个家庭。触角和广度大于账户基数。这是一群被俘虏的观众，他们每天花几个小时迷失在网飞不断增长的数字内容目录中。</blockquote></p><p> Folks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.</p><p><blockquote>人们相信网飞会把事情做好。他们会留下来，即使这意味着价格继续走高。在过去的七年里，Netflix在美国提高了五次月费率，而在下一次加息到来时，子计数总是更高。</blockquote></p><p> Netflix is a&nbsp;media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride the<i>Ozark</i>roller coaster or experience the<i>Stranger Things</i>dark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike that<i>Ozark</i>coaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.</p><p><blockquote>Netflix是一只媒体股票。传统媒体巨头通过充满活力的消费品销售创造了大量增量收入，这并不奇怪。为什么Netflix——一家多年来一直在收集大量关于你观看习惯的数据的公司——不能像知道你下一步想看什么一样擅长确定你下一步想买什么呢？我们可能永远不会看到主题公园，尽管我会是第一个通过Netflixlandia十字转门排队乘坐主题公园的人<i>欧扎克</i>过山车或体验<i>奇怪的事情</i>黑暗之旅。向积极参与的受众销售独特的商品会容易得多，与此不同<i>欧扎克</i>过山车没有高度要求或座位限制来阻止你充分利用消费品。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/15/2-reasons-netflix-will-win-its-merchandising-gambi/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NFLX":"奈飞"},"source_url":"https://www.fool.com/investing/2021/06/15/2-reasons-netflix-will-win-its-merchandising-gambi/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137428482","content_text":"It's easy to be skeptical about last week's launch of Netflix's(NASDAQ:NFLX) online merch store. The new platform -- available via Netflix.shop-- is limited to selling T-shirts and hoodies themed to itsYasukeandEdenanime. It's just designer streetwear right now, and it's not cheap. T-shirts range in price from $30 to $45. Hypland's Yasuke hoodie is going to set you back a beefy $82, or nearly half a year of a Netflix subscription.\nHowever, you may want to think twice before you dismiss the leading premium video service's chances here. There are some good reasons to bet on Netflix's latest move. Let's check them out.\nIMAGE SOURCE: GETTY IMAGES.\n1. Netflix is just getting started\nThis is obviously just the opening act of Netflix.shop. You can get third-party -- admittedly unlicensed -- shirts for a lot less elsewhere. It will be harder to duplicate theYasukeandEdenaction figures that Netflix is promising will roll out later this month.\nLimited-edition apparel and decor inspired byLupin-- with the second season just dropping into your Netflix queue -- will hit the digital storefront this month. Last week's launch also teased upcoming exclusiveStranger ThingsandThe Witcherproduct lines. Reports also have Netflix working on aBridgertonclothing line alongside live events. And Fans ofLa Casa de Papel-- akaMoney Heist-- should be on the lookout for proprietary merch.\nDon't judge Netflix's new foray into the e-tail of physical merch based on what you see on today's landing page. The store will get bigger, and you'll get there once they roll around to paddling a new revenue stream based on one of your favorite shows.\n2. Never underestimate the Netflix audience\nIt's not smart to bet against Netflix. It doesn't make a move unless it has thoroughly thought things through. How many times were we asking Netflix to rent video games by mail during its red envelope days? How many analysts have wondered about the money that Netflix could rake in it if sold ads on top of its streams in this era of rising connected-TV rates?\nNetflix is way smarter than me. It may also be smarter than you when it comes to how it runs its business. Bloomberg is reporting that Netflix is in the process of hiring heads of consumer products, podcasts, and video game businesses that don't currently exist. If they see the light of day -- as we're seeing with consumer product -- it's because the company knows what it's doing.\nNetflix had 207.6 million subscribersat the end of March, and we're talking about entire families here. The reach and breadth is larger than the account base. It's a captive audience spending hours a day getting lost in Netflix's growing digital catalog of content.\nFolks trust Netflix to get it right. They stick around, even if it means prices keep moving higher. Netflix has increased its monthly rates in the U.S.five times over the last seven years, and the sub count is always higher by the time the next hike rolls around.\nNetflix is a media stock. It's not a surprise that traditional media behemoths are generating significant sums of incremental revenue through vibrant consumer product sales. Why wouldn't Netflix -- a company that's been collecting gobs of data on your viewing habits for years -- be as good at nailing what you'll want to buy next as it is at knowing what you want to view next? We may never see a theme park, though I would be the first in line through the turnstiles of Netflixlandia to ride theOzarkroller coaster or experience theStranger Thingsdark ride. Selling unique merch to an engaged audience will be a lot easier, and unlike thatOzarkcoaster there are no height requirements or seat restraints to keep you from making the most of the consumer products ride.","news_type":1,"symbols_score_info":{"NFLX":0.9}},"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160355570,"gmtCreate":1623773349590,"gmtModify":1634028455206,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586767743717067","authorIdStr":"3586767743717067"},"themes":[],"htmlText":"Commented","listText":"Commented","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/160355570","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",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"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":{".IXIC":0.9,".SPX":0.9,"SPY":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161098668,"gmtCreate":1623895576954,"gmtModify":1634026225523,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586767743717067","authorIdStr":"3586767743717067"},"themes":[],"htmlText":"Commented","listText":"Commented","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/161098668","repostId":"2144713861","repostType":4,"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167036615,"gmtCreate":1624238817437,"gmtModify":1634009110962,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586767743717067","authorIdStr":"3586767743717067"},"themes":[],"htmlText":"Commented&nbsp;","listText":"Commented&nbsp;","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167036615","repostId":"2145594707","repostType":4,"isVote":1,"tweetType":1,"viewCount":2510,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168457740,"gmtCreate":1623981898980,"gmtModify":1634024769179,"author":{"id":"3586767743717067","authorId":"3586767743717067","name":"Hewboon","avatar":"https://static.tigerbbs.com/e7155ba9b0f2f8bfbf6e255edee57d7b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586767743717067","authorIdStr":"3586767743717067"},"themes":[],"htmlText":"Commented&nbsp;","listText":"Commented&nbsp;","text":"Commented","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/168457740","repostId":"1180977741","repostType":4,"repost":{"id":"1180977741","kind":"news","pubTimestamp":1623981539,"share":"https://www.laohu8.com/m/news/1180977741?lang=zh_CN&edition=full","pubTime":"2021-06-18 09:58","market":"us","language":"en","title":"Palantir: The Untold Truth<blockquote>Palantir：不为人知的真相</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1180977741","media":"seekingalpha","summary":"Summary\n\nPalantir is often criticized for its lofty valuation multiples, stagnating customer base an","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir is often criticized for its lofty valuation multiples, stagnating customer base and its bleak margin profile.</li>  <li>But the company is actually doing well in terms of customer growth, margin expansion and government order wins.</li>  <li>Investors with a long-term time horizon may want to accumulate its shares on potential price corrections.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6abc7f93f4c7e615f66dca20523d1c16\" tg-width=\"1536\" tg-height=\"1077\"><span>C Flanigan/Getty Images Entertainment</span></p><p><blockquote><ul><li>Palantir经常因其高估值倍数、停滞的客户群和黯淡的利润率而受到批评。</li><li>但该公司实际上在客户增长、利润率扩张和赢得政府订单方面表现良好。</li><li>具有长期视野的投资者可能希望在潜在的价格调整时增持其股票。</li></ul><p class=\"t-img-caption\"><span>C·弗拉尼根/盖蒂图片社娱乐</span></p></blockquote></p><p> Palantir (PLTR) is lately being lambasted in various investing forums on speculative grounds such as how its growth momentum could fizzle out soon, how its margin profile is dragging the company down and that the stock doesn’t justify its price premium. But the company isn't as bad. On the contrary, the data analytics firm is performing well on several parameters – such as customer growth, government order wins and margin expansion – which should come as an encouraging sign for its long-side investors and dispel such speculative bearish narratives. Let's take a closer look.</p><p><blockquote>Palantir(PLTR)最近在各种投资论坛上因投机原因而受到严厉批评，例如其增长势头可能很快就会消失、其利润率状况如何拖累公司以及该股没有证明其溢价是合理的。但这家公司并没有那么糟糕。相反，这家数据分析公司在客户增长、政府订单赢得和利润率扩张等多个参数上表现良好，这对其多头投资者来说应该是一个令人鼓舞的迹象，并消除此类投机性看跌叙事。让我们仔细看看。</blockquote></p><p> <b>Rapid Customer Growth</b></p><p><blockquote><b>客户快速增长</b></blockquote></p><p> Bears have been criticizing Palantir for its bespoke functionality ever since it went public. Its platforms involve customization for various workflows and customer needs, so bears feel the company faces difficulty in onboarding several customers at once and as a result, it’s bottlenecked and its growth momentum can fizzle out. While I respect contrasting opinions, fact of the matter here is that Palantir doesn’t seem to be struggling with customer adds.</p><p><blockquote>自Palantir上市以来，看空者一直批评其定制功能。其平台涉及针对各种工作流程和客户需求的定制，因此看空者认为该公司在同时吸引多个客户方面面临困难，因此，它遇到了瓶颈，其增长势头可能会消失。虽然我尊重不同的意见，但事实是Palantir似乎并没有在客户添加方面遇到困难。</blockquote></p><p> The company’s customer count increased by over 7% on a sequential basis in Q1 2021. Our database at Business Quant reveals that this pace of growth is actually higher than that reported by some of the other renowned names in the software application and infrastructure industries. This immediately dispels the narrative that Palantir faces difficulty in scaling customer relationships due to its bespoke features, whenit's performing better than peers in this regard.</p><p><blockquote>2021年第一季度，该公司的客户数量环比增长超过7%。我们在Business Quant的数据库显示，这一增长速度实际上高于软件应用和基础设施行业的其他一些知名公司报告的增长速度。这立即消除了Palantir因其定制功能而在扩大客户关系方面面临困难的说法，尽管它在这方面的表现优于同行。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/37577e60466b8a980efd8bee77b02711\" tg-width=\"640\" tg-height=\"516\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company’s elevated pace of customer additions shouldn’t come as a surprise to my readers. I’ve explained in my prior articles how the company is undertaking a slew of measures – such as adopting a customer-friendly&nbsp;payment model, ramping up its&nbsp;sales function&nbsp;and introducing&nbsp;free trials&nbsp;for major enterprises – to expand its customer base. These initiatives were announced only a few months ago, and will continue for the rest of FY21, so I expect Palantir to continue adding customers at a rapid rate in near future as well.</p><p><blockquote>我的读者不应该对该公司增加客户的速度感到惊讶。我在之前的文章中解释了该公司如何采取一系列措施来扩大客户群，例如采用客户友好的支付模式、增强销售功能以及为主要企业引入免费试用。这些举措是几个月前才宣布的，并将持续到2021财年的剩余时间，因此我预计Palantir在不久的将来也会继续快速增加客户。</blockquote></p><p> Having said that, there’s no denying that Palantir’s customer base isn’t as sizable as some of its peers, but that’s also where its growth opportunity lies. It suggests that Palantir is yet to penetrate its target market in a big way and that its lower base effect makes it easier for the company to continue expanding its customer base at elevated rates.</p><p><blockquote>话虽如此，不可否认的是，Palantir的客户群不如一些同行那么大，但这也是其增长机会所在。这表明Palantir尚未大规模渗透其目标市场，其较低的基数效应使该公司更容易继续高速扩大其客户群。</blockquote></p><p> There are broadly four takeaways here, which, by the way, the bears seem to discount time and again. These are:</p><p><blockquote>这里大致有四个要点，顺便说一句，空头似乎一次又一次地打折。这些是：</blockquote></p><p> <ul>  <li>Palantir's target market isn't saturated yet and it can still find new customers with ease,</li>  <li>These new customers are bound to lift the company’s revenue higher in 2021 by a varied magnitude, depending on their contract value,</li>  <li>If these are recurring contracts, then that’s going to boost Palantir’s future revenue projections and guidance,</li>  <li>If these new customers eventually ramp up their spend, then that's also going to boost Palantir’s future cash flows.</li> </ul> Regarding the last bullet, it's worth noting that Palantir’s top 20 customers, in general, have significantly ramped up their spending on the company’s data analytics platforms in each of the last 10 years. This new batch of customers, and any future customer additions, could also go through this spending expansion phase in the subsequent years and gradually boost Palantir’s revenue along the way. So, we must give due importance to its rapid pace of customer adds and not take it lightly.</p><p><blockquote><ul><li>Palantir的目标市场尚未饱和，仍然可以轻松找到新客户，</li><li>这些新客户势必会在2021年以不同幅度提升公司的收入，具体取决于其合同价值，</li><li>如果这些是经常性合同，那么这将提高Palantir未来的收入预测和指导，</li><li>如果这些新客户最终增加支出，那么这也将增加Palantir未来的现金流。</li></ul>关于最后一个要点，值得注意的是，Palantir的前20名客户总体上在过去10年中每年都大幅增加了在该公司数据分析平台上的支出。这批新客户以及任何未来新增的客户也可能在随后几年经历这一支出扩张阶段，并在此过程中逐渐增加Palantir的收入。因此，我们必须对其快速的客户增长给予应有的重视，而不是掉以轻心。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f4923a1dd5cc6af812c6dd7b8335f878\" tg-width=\"640\" tg-height=\"426\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> <b>Margin Expansion</b></p><p><blockquote><b>利润扩张</b></blockquote></p><p> Another issue with assessing Palantir’s growth prospects is that the company isn’t profitable yet. While some feel the stock will remain subdued due to its weak margin profile, others feel it can collapse down to single digits. The frustration is understandable given the company posted a net loss of $0.07 per share in its most recent quarter.</p><p><blockquote>评估Palantir增长前景的另一个问题是该公司尚未盈利。虽然一些人认为该股由于利润率疲弱而将保持低迷，但另一些人则认为该股可能会跌至个位数。鉴于该公司最近一个季度每股净亏损0.07美元，这种沮丧是可以理解的。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facd3a7bf5326c841c6f0e79d392d160\" tg-width=\"640\" tg-height=\"125\"><span>(Source:Seeking Alpha)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：寻求阿尔法）</span></p></blockquote></p><p> But I wanted to see for myself if Palantir’s margin profile was actually as hopeless as many believe it to be. So, I compiled the margin profiles for about 90 software infrastructure stocks listed on US bourses. There's no denying that the company's net profit margin is in the red. But what's surprising here is that Palantir had actually posted one of the highest sequential net margin expansions in Q1, in its peer group. To the best of my knowledge, this aspect of Palantir’s business hasn’t been discussed on any investing forum.</p><p><blockquote>但我想亲眼看看Palantir的利润率是否真的像许多人认为的那样无望。因此，我编制了在美国证券交易所上市的约90只软件基础设施股票的保证金概况。不可否认，该公司的净利润率是亏损的。但令人惊讶的是，Palantir实际上是同行中第一季度净利润增长率最高的公司之一。据我所知，Palantir业务的这一方面尚未在任何投资论坛上讨论过。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25614333f421bbcdaf90b43a6ed8e011\" tg-width=\"640\" tg-height=\"552\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> The company may not have been profitable so far, but that doesn’t mean it will remain unprofitable in the future as well. If its recent pace of margin expansion continues in the next several quarters, the company could become profitable in the next 2 to 3 years without sacrificing on its growth momentum. So, let’s give credit where it’s due. The community of professional analysts also shares this line of thought and projects Palantir's margin profile to materially improve going forward.</p><p><blockquote>该公司到目前为止可能尚未盈利，但这并不意味着它未来也将保持无利可图。如果其最近的利润率扩张步伐在未来几个季度继续下去，该公司可能会在未来2到3年内实现盈利，而不会牺牲其增长势头。所以，让我们给予应有的信任。专业分析师社区也认同这一想法，并预计Palantir的利润率状况未来将大幅改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b0017c547d56295730e8f7f4124935d\" tg-width=\"640\" tg-height=\"400\"><span>(Source:MarketScreener)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：MarketScreener）</span></p></blockquote></p><p> Besides, with public shareholding involved now, its management is likely to be under constant pressure to deliver breakneck revenue growth rates, and/or achieve profitability in the near future, or risk being voted out of their positions. This pressure may not have been as intense prior to its direct listing, when fewer shareholders were involved. So, overall, I don’t think Palantir’s margin profile is hopeless as many believe it to be, and I expect the company to become profitable by 2024.</p><p><blockquote>此外，由于现在涉及公众持股，其管理层可能会面临持续的压力，以实现惊人的收入增长率，和/或在不久的将来实现盈利，否则将面临被投票罢免的风险。这种压力可能没有直接上市前那么大，当时参与的股东较少。因此，总体而言，我不认为Palantir的利润率状况像许多人认为的那样毫无希望，我预计该公司将在2024年实现盈利。</blockquote></p><p> <b>Government Contract Wins</b></p><p><blockquote><b>赢得政府合同</b></blockquote></p><p> Moving on, Palantir has been doing extremely well when it comes to securing government contracts. B2G contracts are generally tough to win – given the extensive qualification criteria, long turnaround times and heightened competition – but Palantir seems to have the figured out recipe for success on the government side of its business. For the uninitiated, its revenue from government contracts rose 76% year over year, accounted for about 61% of the company's overall revenue, in Q1.</p><p><blockquote>展望未来，Palantir在获得政府合同方面做得非常好。考虑到广泛的资格标准、较长的周转时间和激烈的竞争，B2G合同通常很难赢得，但Palantir似乎已经找到了在政府业务方面取得成功的秘诀。对于外行人来说，第一季度其政府合同收入同比增长76%，约占公司总收入的61%。</blockquote></p><p> Unless the company botches up somewhere, these government agencies are likely going to internally recommend it for varied applications. They won’t have to qualify Palantir time and again for several criteria which could drive these internal cross-agency referrals in a speedy manner and these agencies might even ramp up their spending in pre-existing contracts. So, Palantir just needs to rinse-and-repeat its B2G (Business-to-Government) strategy, and its government revenue could continue growing rapidly.</p><p><blockquote>除非公司在某个地方搞砸了，否则这些政府机构很可能会在内部推荐它用于各种应用。他们不必一次又一次地对Palantir进行资格认证，这些标准可能会迅速推动这些内部跨机构推荐，这些机构甚至可能会增加在现有合同上的支出。因此，Palantir只需要冲洗并重复其B2G（企业对政府）战略，其政府收入就可以继续快速增长。</blockquote></p><p> Palantir has also made steady progress with regards to its government business so far in Q2. Its Q2 is still ongoing, but at the time of this writing, the company has over $36 million worth of new current action obligations from government deals, agreements and contracts, most of which haven’t made the headlines. For the uninitiated, a new deal could be an addition to pre-existing deal, expand the scope of previously agreed upon deliverables, it could be entirely new in nature, have varied execution periods that span from months to years and/or also have a recurring revenue stream attached to it.</p><p><blockquote>到目前为止，Palantir在第二季度的政府业务方面也取得了稳步进展。其第二季度仍在进行中，但在撰写本文时，该公司从政府交易、协议和合同中承担了价值超过3600万美元的新当前行动义务，其中大部分尚未成为头条新闻。对于门外汉来说，新交易可能是对现有交易的补充，扩大了先前商定的可交付成果的范围，它可能是全新的，具有从几个月到几年的不同执行期和/或还具有附加的经常性收入流。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/091203d7b476076ff008ca0c3b0f6ad2\" tg-width=\"640\" tg-height=\"352\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> So, while there are several variables that prevent us from reliably estimating the near-term revenue impact from these deals, Palantir’s shareholders with a long-term time horizon should feel reassured that their company continues to make steady progress towards growing its government business.</p><p><blockquote>因此，虽然有几个变量阻止我们可靠地估计这些交易的近期收入影响，但Palantir的长期股东应该感到放心，他们的公司在发展政府业务方面继续取得稳步进展。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Palantir’s shares are currently trading at about 43-times its trailing twelve-month sales which is, undeniably, high by conventional standards.</p><p><blockquote>Palantir的股价目前约为过去12个月销售额的43倍，不可否认，按照传统标准，这一数字很高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/40584e7d2ca5458e8609338887f80e2f\" tg-width=\"640\" tg-height=\"361\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> However, its rich valuations alone shouldn't be the basis of a bear thesis. Palantir's valuation multiples may be high, but note from the chart above thatits revenue growth rate in Q1 was also higher than most of its peers.</p><p><blockquote>然而，其丰厚的估值本身不应成为熊市论点的基础。Palantir的估值倍数可能很高，但从上图中可以看出，其第一季度的收入增长率也高于大多数同行。</blockquote></p><p> So, I believe the price premium is justified by the company’s rapid pace of revenue growth (illustrated in the chart above), its qualitative growth catalysts discussed in this article and its relatively secure government revenue stream.</p><p><blockquote>因此，我认为该公司的快速收入增长（如上图所示）、本文讨论的定性增长催化剂以及相对安全的政府收入流证明了溢价是合理的。</blockquote></p><p></p><p> Keeping these factors in mind, investors with a multi-year time horizon may want to increase exposure to Palantir on potential price corrections. The stock is likely to reach new highs as its growth catalysts eventually materialize, and as the company approaches profitability, in the next 2 to 3 years. Good Luck!</p><p><blockquote>考虑到这些因素，具有多年时间范围的投资者可能希望在潜在价格调整时增加对Palantir的投资。随着其增长催化剂最终实现以及公司接近盈利，该股可能会在未来2到3年内创下新高。祝你好运！</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Palantir: The Untold Truth<blockquote>Palantir：不为人知的真相</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPalantir: The Untold Truth<blockquote>Palantir：不为人知的真相</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-18 09:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Palantir is often criticized for its lofty valuation multiples, stagnating customer base and its bleak margin profile.</li>  <li>But the company is actually doing well in terms of customer growth, margin expansion and government order wins.</li>  <li>Investors with a long-term time horizon may want to accumulate its shares on potential price corrections.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6abc7f93f4c7e615f66dca20523d1c16\" tg-width=\"1536\" tg-height=\"1077\"><span>C Flanigan/Getty Images Entertainment</span></p><p><blockquote><ul><li>Palantir经常因其高估值倍数、停滞的客户群和黯淡的利润率而受到批评。</li><li>但该公司实际上在客户增长、利润率扩张和赢得政府订单方面表现良好。</li><li>具有长期视野的投资者可能希望在潜在的价格调整时增持其股票。</li></ul><p class=\"t-img-caption\"><span>C·弗拉尼根/盖蒂图片社娱乐</span></p></blockquote></p><p> Palantir (PLTR) is lately being lambasted in various investing forums on speculative grounds such as how its growth momentum could fizzle out soon, how its margin profile is dragging the company down and that the stock doesn’t justify its price premium. But the company isn't as bad. On the contrary, the data analytics firm is performing well on several parameters – such as customer growth, government order wins and margin expansion – which should come as an encouraging sign for its long-side investors and dispel such speculative bearish narratives. Let's take a closer look.</p><p><blockquote>Palantir(PLTR)最近在各种投资论坛上因投机原因而受到严厉批评，例如其增长势头可能很快就会消失、其利润率状况如何拖累公司以及该股没有证明其溢价是合理的。但这家公司并没有那么糟糕。相反，这家数据分析公司在客户增长、政府订单赢得和利润率扩张等多个参数上表现良好，这对其多头投资者来说应该是一个令人鼓舞的迹象，并消除此类投机性看跌叙事。让我们仔细看看。</blockquote></p><p> <b>Rapid Customer Growth</b></p><p><blockquote><b>客户快速增长</b></blockquote></p><p> Bears have been criticizing Palantir for its bespoke functionality ever since it went public. Its platforms involve customization for various workflows and customer needs, so bears feel the company faces difficulty in onboarding several customers at once and as a result, it’s bottlenecked and its growth momentum can fizzle out. While I respect contrasting opinions, fact of the matter here is that Palantir doesn’t seem to be struggling with customer adds.</p><p><blockquote>自Palantir上市以来，看空者一直批评其定制功能。其平台涉及针对各种工作流程和客户需求的定制，因此看空者认为该公司在同时吸引多个客户方面面临困难，因此，它遇到了瓶颈，其增长势头可能会消失。虽然我尊重不同的意见，但事实是Palantir似乎并没有在客户添加方面遇到困难。</blockquote></p><p> The company’s customer count increased by over 7% on a sequential basis in Q1 2021. Our database at Business Quant reveals that this pace of growth is actually higher than that reported by some of the other renowned names in the software application and infrastructure industries. This immediately dispels the narrative that Palantir faces difficulty in scaling customer relationships due to its bespoke features, whenit's performing better than peers in this regard.</p><p><blockquote>2021年第一季度，该公司的客户数量环比增长超过7%。我们在Business Quant的数据库显示，这一增长速度实际上高于软件应用和基础设施行业的其他一些知名公司报告的增长速度。这立即消除了Palantir因其定制功能而在扩大客户关系方面面临困难的说法，尽管它在这方面的表现优于同行。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/37577e60466b8a980efd8bee77b02711\" tg-width=\"640\" tg-height=\"516\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> The company’s elevated pace of customer additions shouldn’t come as a surprise to my readers. I’ve explained in my prior articles how the company is undertaking a slew of measures – such as adopting a customer-friendly&nbsp;payment model, ramping up its&nbsp;sales function&nbsp;and introducing&nbsp;free trials&nbsp;for major enterprises – to expand its customer base. These initiatives were announced only a few months ago, and will continue for the rest of FY21, so I expect Palantir to continue adding customers at a rapid rate in near future as well.</p><p><blockquote>我的读者不应该对该公司增加客户的速度感到惊讶。我在之前的文章中解释了该公司如何采取一系列措施来扩大客户群，例如采用客户友好的支付模式、增强销售功能以及为主要企业引入免费试用。这些举措是几个月前才宣布的，并将持续到2021财年的剩余时间，因此我预计Palantir在不久的将来也会继续快速增加客户。</blockquote></p><p> Having said that, there’s no denying that Palantir’s customer base isn’t as sizable as some of its peers, but that’s also where its growth opportunity lies. It suggests that Palantir is yet to penetrate its target market in a big way and that its lower base effect makes it easier for the company to continue expanding its customer base at elevated rates.</p><p><blockquote>话虽如此，不可否认的是，Palantir的客户群不如一些同行那么大，但这也是其增长机会所在。这表明Palantir尚未大规模渗透其目标市场，其较低的基数效应使该公司更容易继续高速扩大其客户群。</blockquote></p><p> There are broadly four takeaways here, which, by the way, the bears seem to discount time and again. These are:</p><p><blockquote>这里大致有四个要点，顺便说一句，空头似乎一次又一次地打折。这些是：</blockquote></p><p> <ul>  <li>Palantir's target market isn't saturated yet and it can still find new customers with ease,</li>  <li>These new customers are bound to lift the company’s revenue higher in 2021 by a varied magnitude, depending on their contract value,</li>  <li>If these are recurring contracts, then that’s going to boost Palantir’s future revenue projections and guidance,</li>  <li>If these new customers eventually ramp up their spend, then that's also going to boost Palantir’s future cash flows.</li> </ul> Regarding the last bullet, it's worth noting that Palantir’s top 20 customers, in general, have significantly ramped up their spending on the company’s data analytics platforms in each of the last 10 years. This new batch of customers, and any future customer additions, could also go through this spending expansion phase in the subsequent years and gradually boost Palantir’s revenue along the way. So, we must give due importance to its rapid pace of customer adds and not take it lightly.</p><p><blockquote><ul><li>Palantir的目标市场尚未饱和，仍然可以轻松找到新客户，</li><li>这些新客户势必会在2021年以不同幅度提升公司的收入，具体取决于其合同价值，</li><li>如果这些是经常性合同，那么这将提高Palantir未来的收入预测和指导，</li><li>如果这些新客户最终增加支出，那么这也将增加Palantir未来的现金流。</li></ul>关于最后一个要点，值得注意的是，Palantir的前20名客户总体上在过去10年中每年都大幅增加了在该公司数据分析平台上的支出。这批新客户以及任何未来新增的客户也可能在随后几年经历这一支出扩张阶段，并在此过程中逐渐增加Palantir的收入。因此，我们必须对其快速的客户增长给予应有的重视，而不是掉以轻心。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f4923a1dd5cc6af812c6dd7b8335f878\" tg-width=\"640\" tg-height=\"426\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> <b>Margin Expansion</b></p><p><blockquote><b>利润扩张</b></blockquote></p><p> Another issue with assessing Palantir’s growth prospects is that the company isn’t profitable yet. While some feel the stock will remain subdued due to its weak margin profile, others feel it can collapse down to single digits. The frustration is understandable given the company posted a net loss of $0.07 per share in its most recent quarter.</p><p><blockquote>评估Palantir增长前景的另一个问题是该公司尚未盈利。虽然一些人认为该股由于利润率疲弱而将保持低迷，但另一些人则认为该股可能会跌至个位数。鉴于该公司最近一个季度每股净亏损0.07美元，这种沮丧是可以理解的。</blockquote></p><p></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/facd3a7bf5326c841c6f0e79d392d160\" tg-width=\"640\" tg-height=\"125\"><span>(Source:Seeking Alpha)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：寻求阿尔法）</span></p></blockquote></p><p> But I wanted to see for myself if Palantir’s margin profile was actually as hopeless as many believe it to be. So, I compiled the margin profiles for about 90 software infrastructure stocks listed on US bourses. There's no denying that the company's net profit margin is in the red. But what's surprising here is that Palantir had actually posted one of the highest sequential net margin expansions in Q1, in its peer group. To the best of my knowledge, this aspect of Palantir’s business hasn’t been discussed on any investing forum.</p><p><blockquote>但我想亲眼看看Palantir的利润率是否真的像许多人认为的那样无望。因此，我编制了在美国证券交易所上市的约90只软件基础设施股票的保证金概况。不可否认，该公司的净利润率是亏损的。但令人惊讶的是，Palantir实际上是同行中第一季度净利润增长率最高的公司之一。据我所知，Palantir业务的这一方面尚未在任何投资论坛上讨论过。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25614333f421bbcdaf90b43a6ed8e011\" tg-width=\"640\" tg-height=\"552\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> The company may not have been profitable so far, but that doesn’t mean it will remain unprofitable in the future as well. If its recent pace of margin expansion continues in the next several quarters, the company could become profitable in the next 2 to 3 years without sacrificing on its growth momentum. So, let’s give credit where it’s due. The community of professional analysts also shares this line of thought and projects Palantir's margin profile to materially improve going forward.</p><p><blockquote>该公司到目前为止可能尚未盈利，但这并不意味着它未来也将保持无利可图。如果其最近的利润率扩张步伐在未来几个季度继续下去，该公司可能会在未来2到3年内实现盈利，而不会牺牲其增长势头。所以，让我们给予应有的信任。专业分析师社区也认同这一想法，并预计Palantir的利润率状况未来将大幅改善。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b0017c547d56295730e8f7f4124935d\" tg-width=\"640\" tg-height=\"400\"><span>(Source:MarketScreener)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：MarketScreener）</span></p></blockquote></p><p> Besides, with public shareholding involved now, its management is likely to be under constant pressure to deliver breakneck revenue growth rates, and/or achieve profitability in the near future, or risk being voted out of their positions. This pressure may not have been as intense prior to its direct listing, when fewer shareholders were involved. So, overall, I don’t think Palantir’s margin profile is hopeless as many believe it to be, and I expect the company to become profitable by 2024.</p><p><blockquote>此外，由于现在涉及公众持股，其管理层可能会面临持续的压力，以实现惊人的收入增长率，和/或在不久的将来实现盈利，否则将面临被投票罢免的风险。这种压力可能没有直接上市前那么大，当时参与的股东较少。因此，总体而言，我不认为Palantir的利润率状况像许多人认为的那样毫无希望，我预计该公司将在2024年实现盈利。</blockquote></p><p> <b>Government Contract Wins</b></p><p><blockquote><b>赢得政府合同</b></blockquote></p><p> Moving on, Palantir has been doing extremely well when it comes to securing government contracts. B2G contracts are generally tough to win – given the extensive qualification criteria, long turnaround times and heightened competition – but Palantir seems to have the figured out recipe for success on the government side of its business. For the uninitiated, its revenue from government contracts rose 76% year over year, accounted for about 61% of the company's overall revenue, in Q1.</p><p><blockquote>展望未来，Palantir在获得政府合同方面做得非常好。考虑到广泛的资格标准、较长的周转时间和激烈的竞争，B2G合同通常很难赢得，但Palantir似乎已经找到了在政府业务方面取得成功的秘诀。对于外行人来说，第一季度其政府合同收入同比增长76%，约占公司总收入的61%。</blockquote></p><p> Unless the company botches up somewhere, these government agencies are likely going to internally recommend it for varied applications. They won’t have to qualify Palantir time and again for several criteria which could drive these internal cross-agency referrals in a speedy manner and these agencies might even ramp up their spending in pre-existing contracts. So, Palantir just needs to rinse-and-repeat its B2G (Business-to-Government) strategy, and its government revenue could continue growing rapidly.</p><p><blockquote>除非公司在某个地方搞砸了，否则这些政府机构很可能会在内部推荐它用于各种应用。他们不必一次又一次地对Palantir进行资格认证，这些标准可能会迅速推动这些内部跨机构推荐，这些机构甚至可能会增加在现有合同上的支出。因此，Palantir只需要冲洗并重复其B2G（企业对政府）战略，其政府收入就可以继续快速增长。</blockquote></p><p> Palantir has also made steady progress with regards to its government business so far in Q2. Its Q2 is still ongoing, but at the time of this writing, the company has over $36 million worth of new current action obligations from government deals, agreements and contracts, most of which haven’t made the headlines. For the uninitiated, a new deal could be an addition to pre-existing deal, expand the scope of previously agreed upon deliverables, it could be entirely new in nature, have varied execution periods that span from months to years and/or also have a recurring revenue stream attached to it.</p><p><blockquote>到目前为止，Palantir在第二季度的政府业务方面也取得了稳步进展。其第二季度仍在进行中，但在撰写本文时，该公司从政府交易、协议和合同中承担了价值超过3600万美元的新当前行动义务，其中大部分尚未成为头条新闻。对于门外汉来说，新交易可能是对现有交易的补充，扩大了先前商定的可交付成果的范围，它可能是全新的，具有从几个月到几年的不同执行期和/或还具有附加的经常性收入流。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/091203d7b476076ff008ca0c3b0f6ad2\" tg-width=\"640\" tg-height=\"352\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> So, while there are several variables that prevent us from reliably estimating the near-term revenue impact from these deals, Palantir’s shareholders with a long-term time horizon should feel reassured that their company continues to make steady progress towards growing its government business.</p><p><blockquote>因此，虽然有几个变量阻止我们可靠地估计这些交易的近期收入影响，但Palantir的长期股东应该感到放心，他们的公司在发展政府业务方面继续取得稳步进展。</blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> Palantir’s shares are currently trading at about 43-times its trailing twelve-month sales which is, undeniably, high by conventional standards.</p><p><blockquote>Palantir的股价目前约为过去12个月销售额的43倍，不可否认，按照传统标准，这一数字很高。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/40584e7d2ca5458e8609338887f80e2f\" tg-width=\"640\" tg-height=\"361\"><span>(Source: BusinessQuant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com）</span></p></blockquote></p><p> However, its rich valuations alone shouldn't be the basis of a bear thesis. Palantir's valuation multiples may be high, but note from the chart above thatits revenue growth rate in Q1 was also higher than most of its peers.</p><p><blockquote>然而，其丰厚的估值本身不应成为熊市论点的基础。Palantir的估值倍数可能很高，但从上图中可以看出，其第一季度的收入增长率也高于大多数同行。</blockquote></p><p> So, I believe the price premium is justified by the company’s rapid pace of revenue growth (illustrated in the chart above), its qualitative growth catalysts discussed in this article and its relatively secure government revenue stream.</p><p><blockquote>因此，我认为该公司的快速收入增长（如上图所示）、本文讨论的定性增长催化剂以及相对安全的政府收入流证明了溢价是合理的。</blockquote></p><p></p><p> Keeping these factors in mind, investors with a multi-year time horizon may want to increase exposure to Palantir on potential price corrections. The stock is likely to reach new highs as its growth catalysts eventually materialize, and as the company approaches profitability, in the next 2 to 3 years. Good Luck!</p><p><blockquote>考虑到这些因素，具有多年时间范围的投资者可能希望在潜在价格调整时增加对Palantir的投资。随着其增长催化剂最终实现以及公司接近盈利，该股可能会在未来2到3年内创下新高。祝你好运！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4435125-palantir-the-untold-truth\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4435125-palantir-the-untold-truth","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180977741","content_text":"Summary\n\nPalantir is often criticized for its lofty valuation multiples, stagnating customer base and its bleak margin profile.\nBut the company is actually doing well in terms of customer growth, margin expansion and government order wins.\nInvestors with a long-term time horizon may want to accumulate its shares on potential price corrections.\n\nC Flanigan/Getty Images Entertainment\nPalantir (PLTR) is lately being lambasted in various investing forums on speculative grounds such as how its growth momentum could fizzle out soon, how its margin profile is dragging the company down and that the stock doesn’t justify its price premium. But the company isn't as bad. On the contrary, the data analytics firm is performing well on several parameters – such as customer growth, government order wins and margin expansion – which should come as an encouraging sign for its long-side investors and dispel such speculative bearish narratives. Let's take a closer look.\nRapid Customer Growth\nBears have been criticizing Palantir for its bespoke functionality ever since it went public. Its platforms involve customization for various workflows and customer needs, so bears feel the company faces difficulty in onboarding several customers at once and as a result, it’s bottlenecked and its growth momentum can fizzle out. While I respect contrasting opinions, fact of the matter here is that Palantir doesn’t seem to be struggling with customer adds.\nThe company’s customer count increased by over 7% on a sequential basis in Q1 2021. Our database at Business Quant reveals that this pace of growth is actually higher than that reported by some of the other renowned names in the software application and infrastructure industries. This immediately dispels the narrative that Palantir faces difficulty in scaling customer relationships due to its bespoke features, whenit's performing better than peers in this regard.\n\nThe company’s elevated pace of customer additions shouldn’t come as a surprise to my readers. I’ve explained in my prior articles how the company is undertaking a slew of measures – such as adopting a customer-friendly payment model, ramping up its sales function and introducing free trials for major enterprises – to expand its customer base. These initiatives were announced only a few months ago, and will continue for the rest of FY21, so I expect Palantir to continue adding customers at a rapid rate in near future as well.\nHaving said that, there’s no denying that Palantir’s customer base isn’t as sizable as some of its peers, but that’s also where its growth opportunity lies. It suggests that Palantir is yet to penetrate its target market in a big way and that its lower base effect makes it easier for the company to continue expanding its customer base at elevated rates.\nThere are broadly four takeaways here, which, by the way, the bears seem to discount time and again. These are:\n\nPalantir's target market isn't saturated yet and it can still find new customers with ease,\nThese new customers are bound to lift the company’s revenue higher in 2021 by a varied magnitude, depending on their contract value,\nIf these are recurring contracts, then that’s going to boost Palantir’s future revenue projections and guidance,\nIf these new customers eventually ramp up their spend, then that's also going to boost Palantir’s future cash flows.\n\nRegarding the last bullet, it's worth noting that Palantir’s top 20 customers, in general, have significantly ramped up their spending on the company’s data analytics platforms in each of the last 10 years. This new batch of customers, and any future customer additions, could also go through this spending expansion phase in the subsequent years and gradually boost Palantir’s revenue along the way. So, we must give due importance to its rapid pace of customer adds and not take it lightly.\n(Source: BusinessQuant.com)\nMargin Expansion\nAnother issue with assessing Palantir’s growth prospects is that the company isn’t profitable yet. While some feel the stock will remain subdued due to its weak margin profile, others feel it can collapse down to single digits. The frustration is understandable given the company posted a net loss of $0.07 per share in its most recent quarter.\n(Source:Seeking Alpha)\nBut I wanted to see for myself if Palantir’s margin profile was actually as hopeless as many believe it to be. So, I compiled the margin profiles for about 90 software infrastructure stocks listed on US bourses. There's no denying that the company's net profit margin is in the red. But what's surprising here is that Palantir had actually posted one of the highest sequential net margin expansions in Q1, in its peer group. To the best of my knowledge, this aspect of Palantir’s business hasn’t been discussed on any investing forum.\n(Source: BusinessQuant.com)\nThe company may not have been profitable so far, but that doesn’t mean it will remain unprofitable in the future as well. If its recent pace of margin expansion continues in the next several quarters, the company could become profitable in the next 2 to 3 years without sacrificing on its growth momentum. So, let’s give credit where it’s due. The community of professional analysts also shares this line of thought and projects Palantir's margin profile to materially improve going forward.\n(Source:MarketScreener)\nBesides, with public shareholding involved now, its management is likely to be under constant pressure to deliver breakneck revenue growth rates, and/or achieve profitability in the near future, or risk being voted out of their positions. This pressure may not have been as intense prior to its direct listing, when fewer shareholders were involved. So, overall, I don’t think Palantir’s margin profile is hopeless as many believe it to be, and I expect the company to become profitable by 2024.\nGovernment Contract Wins\nMoving on, Palantir has been doing extremely well when it comes to securing government contracts. B2G contracts are generally tough to win – given the extensive qualification criteria, long turnaround times and heightened competition – but Palantir seems to have the figured out recipe for success on the government side of its business. For the uninitiated, its revenue from government contracts rose 76% year over year, accounted for about 61% of the company's overall revenue, in Q1.\nUnless the company botches up somewhere, these government agencies are likely going to internally recommend it for varied applications. They won’t have to qualify Palantir time and again for several criteria which could drive these internal cross-agency referrals in a speedy manner and these agencies might even ramp up their spending in pre-existing contracts. So, Palantir just needs to rinse-and-repeat its B2G (Business-to-Government) strategy, and its government revenue could continue growing rapidly.\nPalantir has also made steady progress with regards to its government business so far in Q2. Its Q2 is still ongoing, but at the time of this writing, the company has over $36 million worth of new current action obligations from government deals, agreements and contracts, most of which haven’t made the headlines. For the uninitiated, a new deal could be an addition to pre-existing deal, expand the scope of previously agreed upon deliverables, it could be entirely new in nature, have varied execution periods that span from months to years and/or also have a recurring revenue stream attached to it.\n(Source: BusinessQuant.com)\nSo, while there are several variables that prevent us from reliably estimating the near-term revenue impact from these deals, Palantir’s shareholders with a long-term time horizon should feel reassured that their company continues to make steady progress towards growing its government business.\nFinal Thoughts\nPalantir’s shares are currently trading at about 43-times its trailing twelve-month sales which is, undeniably, high by conventional standards.\n(Source: BusinessQuant.com)\nHowever, its rich valuations alone shouldn't be the basis of a bear thesis. Palantir's valuation multiples may be high, but note from the chart above thatits revenue growth rate in Q1 was also higher than most of its peers.\nSo, I believe the price premium is justified by the company’s rapid pace of revenue growth (illustrated in the chart above), its qualitative growth catalysts discussed in this article and its relatively secure government revenue stream.\nKeeping these factors in mind, investors with a multi-year time horizon may want to increase exposure to Palantir on potential price corrections. The stock is likely to reach new highs as its growth catalysts eventually materialize, and as the company approaches profitability, in the next 2 to 3 years. 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