Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It._老虎社区_美港股上老虎

Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.

Barrons2021-02-23

Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down ...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

131

CL777
·2021-03-01
More to come
回复
2
举报
JohnnieBeGd
·2021-02-24
[愤怒]
回复
点赞
举报
pigley
·2021-02-23
as always, buy the dip! and 💎🙌🏼
回复
3
举报
RKT
·2021-02-23
Is Tesla in reverse gear?
回复
点赞
举报
leisco
·2021-02-23
[喷血]
回复
点赞
举报
PickaChew
·2021-02-23
[惊讶]
回复
1
举报
Potato3
·2021-02-23
Any idea how’s the short position like for Tesla?
回复
3
举报
melts
·2021-02-23
What are your views on cciv (lucid) prospects in view of this.. it's dropped 30% market so far today alr to $38 [freeze]
回复
2
举报
收起
- ALT:
  Hmmmm
  2021-02-25
  回复
  举报
Macrowave
·2021-02-23
[流泪]
回复
点赞
举报
Westboy
·2021-02-23
[流泪]
回复
点赞
举报
BB_RT
·2021-02-23
[难过]
回复
点赞
举报
Jessemyne
·2021-02-23
Start tweeting something useful dude [捂脸]
回复
2
举报
Jessemyne
·2021-02-23
Arggghhhh
回复
2
举报
Desmond669
·2021-02-23
Goood
回复
1
举报
Acella
·2021-02-23
Hold on to your belief of the true potential of tesla..
回复
1
举报
Seachelle
·2021-02-23
Is definitely a time for dip buying! Shopping time!
回复
4
举报
TobyAw
·2021-02-23
buy no scare, scare no buy.
回复
点赞
举报
AppleMango
·2021-02-23
Overpriced of EV shares
回复
2
举报
WolfHunting
·2021-02-23
Well done Elon , nobody care who is US President, what Biden do, what Powell say.
回复
1
举报
Unknown934
·2021-02-23
Buy all the dips!!! Fire sale!!!
回复
点赞
举报

热议股票

7x24

全部

{"i18n":{"language":"zh_CN"},"data":{"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-02-23 11:02","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1175731087","market":"us","top_or_hot":-1,"title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.","media":"Barrons","content":"<div>\nStock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down ...\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">网页链接</a>\n\n</div>\n","source":"lsy1601382232898","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-23 11:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3>Barrons</a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\nStock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down ...\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TSLA","symbol_name":"特斯拉","start_time":0,"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","article_id":"1175731087","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","pubTimestamp":1614049350,"columns":[],"sourceInfo":{"source_id":"lsy1601382232898","name":"Barrons"},"weMediaInfo":null,"summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","collect":0,"end_time":0,"defaultTopTitle":"barrons.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"translate_title":"特斯拉股票正处于熊市。它把其他电动汽车的股票也带走了。","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9},"content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":366424061,"gmtCreate":1614556131353,"gmtModify":1703478114162,"author":{"id":"3560241002253187","authorId":"3560241002253187","name":"CL777","avatar":"https://static.tigerbbs.com/e9aef3dd830373a0427a3447b1b564e3","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3560241002253187","authorIdStr":"3560241002253187"},"htmlText":"More to come","listText":"More to come","text":"More to come","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366424061","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":363400354,"gmtCreate":1614160090578,"gmtModify":1634550947036,"author":{"id":"3573641525748535","authorId":"3573641525748535","name":"JohnnieBeGd","avatar":"https://static.tigerbbs.com/d32df98cdb438296acbb2d53a4e7cffb","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3573641525748535","authorIdStr":"3573641525748535"},"htmlText":"[愤怒]","listText":"[愤怒]","text":"[愤怒]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363400354","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":363395239,"gmtCreate":1614093045021,"gmtModify":1634551198078,"author":{"id":"3575091038238039","authorId":"3575091038238039","name":"pigley","avatar":"https://static.tigerbbs.com/5f3daaabff502bdf4b19b4de3e0082f3","vip":1,"crmLevel":13,"crmLevelSwitch":0,"idStr":"3575091038238039","authorIdStr":"3575091038238039"},"htmlText":"as always,&nbsp;buy the dip! and 💎🙌🏼","listText":"as always,&nbsp;buy the dip! and 💎🙌🏼","text":"as always, buy the dip! and 💎🙌🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363395239","repostId":1175731087,"repostType":2,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":363974825,"gmtCreate":1614092510067,"gmtModify":1631891763785,"author":{"id":"3574492541167448","authorId":"3574492541167448","name":"RKT","avatar":"https://static.tigerbbs.com/4257e394d8e8b96c3ca68aa06f560402","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3574492541167448","authorIdStr":"3574492541167448"},"htmlText":"Is Tesla in reverse gear?","listText":"Is Tesla in reverse gear?","text":"Is Tesla in reverse gear?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363974825","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":363988413,"gmtCreate":1614091158532,"gmtModify":1634551212604,"author":{"id":"3570533791477514","authorId":"3570533791477514","name":"leisco","avatar":"https://static.tigerbbs.com/d37dac18e15ab257020d714f590c3b6a","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3570533791477514","authorIdStr":"3570533791477514"},"htmlText":"[喷血]&nbsp;","listText":"[喷血]&nbsp;","text":"[喷血]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363988413","repostId":1175731087,"repostType":2,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":363988113,"gmtCreate":1614091148632,"gmtModify":1634551212947,"author":{"id":"3575623648551699","authorId":"3575623648551699","name":"PickaChew","avatar":"https://static.tigerbbs.com/e64125a635ce42e8dfd601284ad29438","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3575623648551699","authorIdStr":"3575623648551699"},"htmlText":"[惊讶]&nbsp;","listText":"[惊讶]&nbsp;","text":"[惊讶]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363988113","repostId":1175731087,"repostType":2,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":363910171,"gmtCreate":1614090698293,"gmtModify":1634551216765,"author":{"id":"3576629019645766","authorId":"3576629019645766","name":"Potato3","avatar":"https://static.tigerbbs.com/27c3506ac91aba524d8796fabd50c2f8","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3576629019645766","authorIdStr":"3576629019645766"},"htmlText":"Any idea how’s the short position like for Tesla?","listText":"Any idea how’s the short position like for Tesla?","text":"Any idea how’s the short position like for Tesla?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363910171","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":363074963,"gmtCreate":1614088158552,"gmtModify":1634551230891,"author":{"id":"3576283930584661","authorId":"3576283930584661","name":"melts","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3576283930584661","authorIdStr":"3576283930584661"},"htmlText":"What are your views on cciv (lucid) prospects in view of this.. it's&nbsp;dropped 30% market so far today alr to $38 [freeze]","listText":"What are your views on cciv (lucid) prospects in view of this.. it's&nbsp;dropped 30% market so far today alr to $38 [freeze]","text":"What are your views on cciv (lucid) prospects in view of this.. it's dropped 30% market so far today alr to $38 [freeze]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/363074963","repostId":1175731087,"repostType":2,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3661581,"gmtCreate":1614258618359,"gmtModify":1635761140759,"authorId":3575346220147121,"author":{"id":3575346220147121,"idStr":"3575346220147121","authorId":3575346220147121,"name":"ALT","avatar":"https://static.tigerbbs.com/8be5ce591282da3fbb11ca2132a854e2","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":363074963,"type":1,"supId":0,"prevId":0,"content":"Hmmmm","text":"Hmmmm","html":"Hmmmm"}],"langContent":"EN"},{"id":363073785,"gmtCreate":1614087620347,"gmtModify":1634551233132,"author":{"id":"3571353525514733","authorId":"3571353525514733","name":"Macrowave","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3571353525514733","authorIdStr":"3571353525514733"},"htmlText":"[流泪]&nbsp;","listText":"[流泪]&nbsp;","text":"[流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363073785","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":363025970,"gmtCreate":1614085099390,"gmtModify":1614085099390,"author":{"id":"3564267908179349","authorId":"3564267908179349","name":"Westboy","avatar":"https://static.tigerbbs.com/94b3b0139d9f1f29f625599baf630a6f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3564267908179349","authorIdStr":"3564267908179349"},"htmlText":"[流泪]&nbsp;","listText":"[流泪]&nbsp;","text":"[流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363025970","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":363033114,"gmtCreate":1614081314938,"gmtModify":1634551260453,"author":{"id":"3576811811570963","authorId":"3576811811570963","name":"BB_RT","avatar":"https://static.tigerbbs.com/002bc257cccbdf0cc258fa9e50dd3e0f","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3576811811570963","authorIdStr":"3576811811570963"},"htmlText":"[难过]&nbsp;","listText":"[难过]&nbsp;","text":"[难过]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/363033114","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":369795685,"gmtCreate":1614074899747,"gmtModify":1634551293132,"author":{"id":"3572319379588082","authorId":"3572319379588082","name":"Jessemyne","avatar":"https://static.tigerbbs.com/6252e2c2d2486e6000e4f9a349488762","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3572319379588082","authorIdStr":"3572319379588082"},"htmlText":"Start tweeting something useful dude [捂脸]&nbsp;","listText":"Start tweeting something useful dude [捂脸]&nbsp;","text":"Start tweeting something useful dude [捂脸]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369795685","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":369795028,"gmtCreate":1614074867564,"gmtModify":1634551293252,"author":{"id":"3572319379588082","authorId":"3572319379588082","name":"Jessemyne","avatar":"https://static.tigerbbs.com/6252e2c2d2486e6000e4f9a349488762","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"3572319379588082","authorIdStr":"3572319379588082"},"htmlText":"Arggghhhh&nbsp;","listText":"Arggghhhh&nbsp;","text":"Arggghhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369795028","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369416835,"gmtCreate":1614070269027,"gmtModify":1634551312505,"author":{"id":"3562118563279867","authorId":"3562118563279867","name":"Desmond669","avatar":"https://static.tigerbbs.com/e2484115c94d3471cb46f20ea7598b4a","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3562118563279867","authorIdStr":"3562118563279867"},"htmlText":"Goood","listText":"Goood","text":"Goood","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369416835","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369402495,"gmtCreate":1614066879717,"gmtModify":1634551323221,"author":{"id":"3563150446821026","authorId":"3563150446821026","name":"Acella","avatar":"https://static.tigerbbs.com/2712c4bb0bfbec4d2773e012189db3bc","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3563150446821026","authorIdStr":"3563150446821026"},"htmlText":"Hold on to your belief of the true potential of tesla..&nbsp;","listText":"Hold on to your belief of the true potential of tesla..&nbsp;","text":"Hold on to your belief of the true potential of tesla..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369402495","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369402921,"gmtCreate":1614066646363,"gmtModify":1634551323460,"author":{"id":"3570068346720475","authorId":"3570068346720475","name":"Seachelle","avatar":"https://static.tigerbbs.com/64070f8873c213aa374ab8ee1a9f7237","vip":1,"crmLevel":13,"crmLevelSwitch":0,"idStr":"3570068346720475","authorIdStr":"3570068346720475"},"htmlText":"Is definitely a time for dip buying! Shopping time!&nbsp;","listText":"Is definitely a time for dip buying! Shopping time!&nbsp;","text":"Is definitely a time for dip buying! Shopping time!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369402921","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369574781,"gmtCreate":1614065906843,"gmtModify":1634551326098,"author":{"id":"3573700739674567","authorId":"3573700739674567","name":"TobyAw","avatar":"https://static.tigerbbs.com/9a7c4603ab152285fa5793c67bfb5ceb","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3573700739674567","authorIdStr":"3573700739674567"},"htmlText":"buy no scare, scare no buy.&nbsp;","listText":"buy no scare, scare no buy.&nbsp;","text":"buy no scare, scare no buy.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369574781","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369578886,"gmtCreate":1614065508245,"gmtModify":1634551327811,"author":{"id":"3567141277226150","authorId":"3567141277226150","name":"AppleMango","avatar":"https://static.tigerbbs.com/68d3e430c230d4cfd4e97044c56f2b6d","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3567141277226150","authorIdStr":"3567141277226150"},"htmlText":"Overpriced of EV shares","listText":"Overpriced of EV shares","text":"Overpriced of EV shares","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369578886","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369571973,"gmtCreate":1614065265592,"gmtModify":1634551328173,"author":{"id":"3574686441520042","authorId":"3574686441520042","name":"WolfHunting","avatar":"https://static.tigerbbs.com/3873c309c1f2297125da6db9b6d449cd","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3574686441520042","authorIdStr":"3574686441520042"},"htmlText":"Well done&nbsp;Elon , nobody care who is US President, what Biden do, what Powell say.&nbsp;","listText":"Well done&nbsp;Elon , nobody care who is US President, what Biden do, what Powell say.&nbsp;","text":"Well done Elon , nobody care who is US President, what Biden do, what Powell say.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369571973","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369579991,"gmtCreate":1614065048413,"gmtModify":1634551328771,"author":{"id":"3568773327054096","authorId":"3568773327054096","name":"Unknown934","avatar":"https://static.tigerbbs.com/8b3574572ddefc308a01b8cc301667c4","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3568773327054096","authorIdStr":"3568773327054096"},"htmlText":"Buy all the dips!!! Fire sale!!!&nbsp;","listText":"Buy all the dips!!! Fire sale!!!&nbsp;","text":"Buy all the dips!!! Fire sale!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/369579991","repostId":1175731087,"repostType":4,"repost":{"id":"1175731087","kind":"news","pubTimestamp":1614049350,"share":"https://www.laohu8.com/m/news/1175731087?lang=zh_CN&edition=full","pubTime":"2021-02-23 11:02","market":"us","language":"en","title":"Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175731087","media":"Barrons","summary":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Stree","content":"Stock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock Is in a Bear Market. It’s Taking Other EV Stocks With It.<blockquote>特斯拉股票正处于熊市。它正在带走其他电动汽车股票。</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nBarrons2021-02-23 11:02\n\n</h4>\n</header>\n<article>\nStock in the electric- vehicle pioneer&nbsp;Tesla&nbsp;is now in&nbsp;bear-market&nbsp;territory. That’s a problem for the entire&nbsp;EV sector.<blockquote>电动汽车先驱特斯拉的股票目前处于熊市区域。这是整个电动汽车行业的问题。</blockquote>Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.<blockquote>特斯拉股价周一收盘下跌8.6%，至每股714.50美元。这使得它们较1月份触及的52周高点900.40美元下跌了近186美元。下降了大约21%。</blockquote>It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.<blockquote>这似乎很奇怪，因为这个词通常适用于广泛的股票类别，但特斯拉股价出现了新的熊市——从高点下跌了20%。</blockquote>Of course, Tesla is the&nbsp;800-pound gorilla&nbsp;in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.<blockquote>当然，特斯拉是电动汽车领域800磅重的大猩猩。它的价值几乎相当于所有其他传统汽车制造商的总和。当特斯拉股价下跌时，其他电动汽车股票也会跟随下跌，因为华尔街经常依赖特斯拉的估值来制定目标价。</blockquote>Monday, shares of three other&nbsp;high-flying&nbsp;EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and&nbsp;Li Auto&nbsp;shares are down roughly 20% on average, just like Tesla.<blockquote>周一，另外三只销量强劲的电动汽车股票——蔚来（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）——的股价下跌了约7%至8%。自特斯拉股价创下历史新高以来，蔚来、小鹏汽车和理想汽车的股价平均下跌了约20%，就像特斯拉一样。</blockquote>It looks as if Tesla is the benchmark for EV stocks just like the&nbsp;S&amp;P 500&nbsp;is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.<blockquote>特斯拉似乎是电动汽车股票的基准，就像标准普尔500指数是美国股票的比较基础一样。这为电动汽车投资者提出了一个有趣的想法：特斯拉版本的beta。从某种意义上说，贝塔概念可以被视为衡量股票系统性风险的指标。市场的变化通过股票的贝塔值与个股的变化相关联。</blockquote>If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&amp;P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.<blockquote>例如，如果一只股票的贝塔值为2，那么如果市场上涨1%，预计该股票将上涨约2%。贝塔值并不总是高于1。例如，标准普尔500指数中的金矿公司的贝塔值约为0.5，因此如果更广泛的指数上涨，它们的上涨速度不会那么快。</blockquote>Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&amp;P 500, and the other half is due to other factors, such as what’s going on with gold prices.<blockquote>投资者可以将黄金贝塔值解释为，这些黄金股票发生的情况大约一半是由标普500发生的情况来解释的，另一半是由其他因素造成的，例如金价的变化。</blockquote>Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.<blockquote>贝塔只是一个数学计算。如果投资者愿意，他们可以计算股票相对于中央公园大气压力的贝塔值。不过，数学必须有意义，所以没人这么做。然而，就电动汽车而言，将特斯拉视为任何电动汽车股票的风险的想法并不夸张。</blockquote>The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.<blockquote>蔚来、小鹏汽车和理想汽车这三只中国电动汽车股票的“特斯拉贝塔值”约为0.5。与黄金股一样，这可以被解释为这三只股票发生的大约一半是特斯拉股票发生的情况的函数。</blockquote>It’s an interesting idea. But what is happening to Tesla stock anyway?<blockquote>这是个有趣的想法。但特斯拉股票到底发生了什么？</blockquote>It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.<blockquote>这一切都与通胀上升的可能性有关。由于金融贴现率的运作方式，通胀上升是市场日益关注的问题，它往往会对高增长股票的惩罚大于对低增长股票的惩罚。特斯拉的大部分现金流来自未来几年，而当利率上升时，未来现金流的价值就会降低。</blockquote>Monday, many growth stocks took it on the chin. The&nbsp;Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.<blockquote>周一，许多成长型股票都受到了打击。被称为许多快速增长的科技公司所在地的纳斯达克综合指数下跌2.5%。特斯拉相对于纳斯达克的贝塔值约为2，因此投资者不应对特斯拉股价下跌5%感到惊讶。</blockquote>Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site&nbsp;Electrek&nbsp;reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.<blockquote>不过，特斯拉股价下跌9%。额外的4%仍然是个谜。新闻网站Electrek报道称，特斯拉停止接受其最低价格Model Y的订单，但对低价电动汽车车型的高需求并不是一件坏事。</blockquote><img src=\"https://static.tigerbbs.com/728e2afa9536498c3500bf3fdae26f29\" tg-width=\"642\" tg-height=\"213\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>CEO&nbsp;Elon Musk&nbsp;is also spending a lot of time tweeting about&nbsp;cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.<blockquote>首席执行官埃隆·马斯克也花了很多时间在推特上谈论加密货币。这可能会让特斯拉投资者感到不安。然而，他的推文与最近的历史并没有什么不同。马斯克因在许多话题上发推文而闻名。</blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3\">Barrons</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/tesla-stock-is-in-a-bear-market-its-taking-other-ev-stocks-with-it-51614034570?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175731087","content_text":"Stock in the electric- vehicle pioneer Tesla is now in bear-market territory. That’s a problem for the entire EV sector.Tesla shares closed down 8.6% Monday at $714.50 a share. That leaves them down almost $186 from the 52-week high of $900.40 they reached in January. That’s a drop of roughly 21%.It seems odd to say, given that the term is usually applied to broad groups of stocks, but there is a new bear market—a drop of 20% from a high—in Tesla shares.Of course, Tesla is the 800-pound gorilla in the EV sector. It is worth almost as much as all other traditional car makers combined. And when Tesla stock drops, other EV stocks follow because Wall Street often relies on Tesla’s valuation to come up with price targets.Monday, shares of three other high-flying EV stocks with significant sales—NIO(NIO),XPeng(XPEV) andLi Auto(LI)—fell roughly 7% to 8%. And since Tesla stock hit its all-time high, NIO, XPeng and Li Auto shares are down roughly 20% on average, just like Tesla.It looks as if Tesla is the benchmark for EV stocks just like the S&P 500 is the basis for comparison for U.S. stocks. That raises an interesting idea for EV investors: the Tesla version of beta. The beta concept can be thought of, in a sense, as a measure of a stock’s systemic risk. What happens to a market is linked to what happens to an individual stock by that stock’s beta.If a stock, for instance, has a beta of 2, it would be expected to rise about 2% if the market rose 1%. Beta values aren’t always above 1. Gold-mining companies in theS&P 500,for instance, have a beta of roughly 0.5, so they don’t rise as fast if the broader index goes up.Investors can interpret the gold beta as saying roughly half of what happens to those golds stock is explained by what happens to the S&P 500, and the other half is due to other factors, such as what’s going on with gold prices.Beta is just a mathematical calculation. Investors, if they want, can calculate a stock’s beta relative to atmospheric pressure in Central Park. The math has to mean something, though, so no one does that. In the case of EVs, however, the idea of Tesla-as-risk to any EV stock doesn’t feel like a stretch.The “Tesla beta” of the three Chinese EV stocks—NIO, XPeng and Li—is about 0.5. That can be interpreted, as with gold stocks, as saying about half of what happens to those three shares is a function of what happens to Tesla stock.It’s an interesting idea. But what is happening to Tesla stock anyway?It’s all about the potential for higher inflation. Increasing inflation, a growing concern in the market, tends to punish high-growth stocks more than low-growth stocks because of the way financial discount rates work. Most of Tesla’s cash flow comes in future years, and future cash flow is worth less today when interest rates rise.Monday, many growth stocks took it on the chin. The Nasdaq Composite,known as the home of many fast-growing tech companies, fell 2.5%. Tesla’s beta value relative to the Nasdaq is about 2, so investors shouldn’t be surprised by a 5% drop in Tesla stock.Tesla shares fell 9%, though. The extra 4% remains a mystery. The news site Electrek reported Tesla stopped taking orders for its lowest-priced Model Y, but high demand for lower-price EV models isn’t really a bad thing.CEO Elon Musk is also spending a lot of time tweeting about cryptocurrencies. That might be unnerving Tesla investors. His tweeting, however, isn’t really any different than recent history. Musk is famous for his tweeting on lots of topics.","news_type":1,"symbols_score_info":{"LI":0.9,"NIO":0.9,"TSLA":0.9,"XPEV":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":131,"commentSize":84,"repostSize":0,"favoriteSize":2,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}