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2021-05-13
tesla and nio!
4 Factors That Are Popping the EV Stock Bubble<blockquote>戳破电动汽车股票泡沫的 4 个因素</blockquote>
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Stock in Tesla (ticker: TSLA), the leader of the EV pack, dropped 4.4% Wednesday, closing below $600 a share for the first time since early March. Shares closed near the low of the day.</p><p><blockquote>由于对通胀的担忧成为拖累股市的担忧之一，整个行业的股市周三大幅下跌。电动汽车领域的领导者特斯拉（股票代码：TSLA）的股价周三下跌 4.4%，自 3 月初以来首次收于每股 600 美元以下。股价收于当日低点附近。</blockquote></p><p> The average drop among the EV stocks<i>Barron’s</i>tracks was about 3%. TheS&P 500,Dow Jones Industrial AverageandNasdaq Compositedropped 2.1%, 2% and 2.7%, respectively.</p><p><blockquote>电动汽车股票平均下跌<i>巴伦</i>轨道约为3%。标准普尔500指数、道琼斯工业平均指数和纳斯达克综合指数分别下跌2.1%、2%和2.7%。</blockquote></p><p> Behind all those declines was news early in the day that consumer prices increased 4.2% year over year in April, far higher than the Federal Reserve’s 2% target. In April 2020, of course, things were falling apart, sending prices lower, amid Covid-19 lockdowns, so the gain was relative to a low base. But the March to April pickup in prices, excluding food and energy, was 0.9%. That rate equals full-year inflation of more than 11%.</p><p><blockquote>所有这些下跌的背后是当天早些时候有消息称，4 月份消费者价格同比上涨 4.2%，远高于美联储 2% 的目标。当然，在 2020 年 4 月，由于 Covid-19 封锁，情况开始分崩离析，导致价格走低，因此涨幅相对于较低的基数而言。但3月至4月，不包括食品和能源在内的价格上涨了0.9%。这一比率相当于全年超过 11% 的通货膨胀率。</blockquote></p><p> Inflation that high is like a parasite, eating into savings and sucking energy out of the economy. It also tends to hurt stock valuations, especially those of expensive growth companies that are expected to generate most of their cash flows far in the future. Higher inflation means higher bond yields, which reduce the current value of future cash flows, partly because higher rates give investors options to earn more interest on their money right now.</p><p><blockquote>如此高的通货膨胀就像一只寄生虫，吞噬了储蓄，并从经济中吸走了能量。它还往往会损害股票估值，尤其是那些昂贵的成长型公司的估值，这些公司预计将在未来很长一段时间内产生大部分现金流。更高的通胀意味着更高的债券收益率，这会降低未来现金流的现值，部分原因是更高的利率让投资者可以选择立即从资金中赚取更多利息。</blockquote></p><p> Wednesday’s inflation-fueled declines are just the tip of the iceberg, though, for EV companies. Tesla stock is down about 34% from its January 52-week high of more than $900 a share. The average drop from 52-week highs for the rest of the EV names is about 70%. Investors just don’t have the appetite for more speculative, higher-growth stocks in the current environment.</p><p><blockquote>不过，对于电动汽车公司来说，周三受通胀影响的下滑只是冰山一角。特斯拉股价较 1 月份每股超过 900 美元的 52 周高点下跌约 34%。其余电动汽车品牌较 52 周高点平均下跌约 70%。在当前环境下，投资者对投机性更强、成长性更高的股票没有兴趣。</blockquote></p><p> Stock inChurchill Capital Acquisition Corp. IV(CCIV), the SPAC merging withLucid Motors, is down about 73% from its 52-week high.Hyliion(HYLN) shares are down about 86%. And theChineseEV makersNIO(NIO),XPeng(XPEV) andLi Auto(LI) have fallen an average of about 45% from their 52-week highs.</p><p><blockquote>与 Lucid Motors 合并的 SPAC Churchill Capital Acquisition Corp. IV (CCIV) 股价较 52 周高点下跌约 73%。 Hyliion (HYLN) 股价下跌约 86%。中国电动汽车制造商蔚来汽车（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）的股价较 52 周高点平均下跌约 45%。</blockquote></p><p> Inflation is just the latest problem for the stocks.More competitionin the EV business, with traditional auto makers pouring billions into developing vehicles, is one problem. At the same time, the global shortage ofsemiconductorsis constraining automotive production around the globe, making it hard for EV makers to benefit from red-hot demand for cars and rising gasoline price.</p><p><blockquote>通货膨胀只是股市面临的最新问题。随着传统汽车制造商投入数十亿美元开发汽车，电动汽车行业的竞争加剧是一个问题。与此同时，全球半导体短缺限制了全球汽车生产，使得电动汽车制造商很难从汽车需求旺盛和汽油价格上涨中受益。</blockquote></p><p> What is more, many of the new EV companies became public by merging with special-purpose acquisition companies. Many SPAC stocks, not just the EV-related ones, are struggling. TheDefiance Next Gen SPAC Derived ETF(SPAK) is down 34% from its February 52-week high.</p><p><blockquote>更重要的是，许多新的电动汽车公司通过与特殊目的收购公司合并而上市。许多 SPAC 股票，而不仅仅是与电动汽车相关的股票，都在苦苦挣扎。Defiance Next Gen SPAC 衍生 ETF (SPAK) 较 2 月份的 52 周高点下跌 34%。</blockquote></p><p> A dozen EV-SPAC companies<i>Barron’s</i>tracks are now down 15% over the past year on average. Only five remain above their SPAC merger price of $10 a share: Lucid,Fisker(FSR),Arrival(ARVL),QuantumScape(QS), andNikola(NKLA).</p><p><blockquote>十几家电动汽车特殊目的收购公司<i>巴伦</i>与过去一年相比，轨道现在平均下降了15%。只有五家公司仍高于每股 10 美元的 SPAC 合并价格：Lucid、Fisker (FSR)、Arrival (ARVL)、QuantumScape (QS) 和 Nikola (NKLA)。</blockquote></p><p> Investors might believe that means those are the long-term winners among the EV SPAC stocks. But it is also possible their higher prices mean there is still further to fall.</p><p><blockquote>投资者可能认为这意味着这些是电动汽车特殊目的收购公司股票中的长期赢家。但也有可能它们的较高价格意味着还有进一步下跌的空间。</blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 Factors That Are Popping the EV Stock Bubble<blockquote>戳破电动汽车股票泡沫的 4 个因素</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Factors That Are Popping the EV Stock Bubble<blockquote>戳破电动汽车股票泡沫的 4 个因素</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-05-13 17:40</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Electric-vehicle investors are going through abrutal stretchafter an epic year.</p><p><blockquote>在经历了史诗般的一年后，电动汽车投资者正在经历残酷的压力。</blockquote></p><p> Shares fell hard across the sector on Wednesday as concern aboutinflationjoined the list of worries dragging on the shares. Stock in Tesla (ticker: TSLA), the leader of the EV pack, dropped 4.4% Wednesday, closing below $600 a share for the first time since early March. Shares closed near the low of the day.</p><p><blockquote>由于对通胀的担忧成为拖累股市的担忧之一，整个行业的股市周三大幅下跌。电动汽车领域的领导者特斯拉（股票代码：TSLA）的股价周三下跌 4.4%，自 3 月初以来首次收于每股 600 美元以下。股价收于当日低点附近。</blockquote></p><p> The average drop among the EV stocks<i>Barron’s</i>tracks was about 3%. TheS&P 500,Dow Jones Industrial AverageandNasdaq Compositedropped 2.1%, 2% and 2.7%, respectively.</p><p><blockquote>电动汽车股票平均下跌<i>巴伦</i>轨道约为3%。标准普尔500指数、道琼斯工业平均指数和纳斯达克综合指数分别下跌2.1%、2%和2.7%。</blockquote></p><p> Behind all those declines was news early in the day that consumer prices increased 4.2% year over year in April, far higher than the Federal Reserve’s 2% target. In April 2020, of course, things were falling apart, sending prices lower, amid Covid-19 lockdowns, so the gain was relative to a low base. But the March to April pickup in prices, excluding food and energy, was 0.9%. That rate equals full-year inflation of more than 11%.</p><p><blockquote>所有这些下跌的背后是当天早些时候有消息称，4 月份消费者价格同比上涨 4.2%，远高于美联储 2% 的目标。当然，在 2020 年 4 月，由于 Covid-19 封锁，情况开始分崩离析，导致价格走低，因此涨幅相对于较低的基数而言。但3月至4月，不包括食品和能源在内的价格上涨了0.9%。这一比率相当于全年超过 11% 的通货膨胀率。</blockquote></p><p> Inflation that high is like a parasite, eating into savings and sucking energy out of the economy. It also tends to hurt stock valuations, especially those of expensive growth companies that are expected to generate most of their cash flows far in the future. Higher inflation means higher bond yields, which reduce the current value of future cash flows, partly because higher rates give investors options to earn more interest on their money right now.</p><p><blockquote>如此高的通货膨胀就像一只寄生虫，吞噬了储蓄，并从经济中吸走了能量。它还往往会损害股票估值，尤其是那些昂贵的成长型公司的估值，这些公司预计将在未来很长一段时间内产生大部分现金流。更高的通胀意味着更高的债券收益率，这会降低未来现金流的现值，部分原因是更高的利率让投资者可以选择立即从资金中赚取更多利息。</blockquote></p><p> Wednesday’s inflation-fueled declines are just the tip of the iceberg, though, for EV companies. Tesla stock is down about 34% from its January 52-week high of more than $900 a share. The average drop from 52-week highs for the rest of the EV names is about 70%. Investors just don’t have the appetite for more speculative, higher-growth stocks in the current environment.</p><p><blockquote>不过，对于电动汽车公司来说，周三受通胀影响的下滑只是冰山一角。特斯拉股价较 1 月份每股超过 900 美元的 52 周高点下跌约 34%。其余电动汽车品牌较 52 周高点平均下跌约 70%。在当前环境下，投资者对投机性更强、成长性更高的股票没有兴趣。</blockquote></p><p> Stock inChurchill Capital Acquisition Corp. IV(CCIV), the SPAC merging withLucid Motors, is down about 73% from its 52-week high.Hyliion(HYLN) shares are down about 86%. And theChineseEV makersNIO(NIO),XPeng(XPEV) andLi Auto(LI) have fallen an average of about 45% from their 52-week highs.</p><p><blockquote>与 Lucid Motors 合并的 SPAC Churchill Capital Acquisition Corp. IV (CCIV) 股价较 52 周高点下跌约 73%。 Hyliion (HYLN) 股价下跌约 86%。中国电动汽车制造商蔚来汽车（蔚来）、小鹏汽车（XPEV）和理想汽车（LI）的股价较 52 周高点平均下跌约 45%。</blockquote></p><p> Inflation is just the latest problem for the stocks.More competitionin the EV business, with traditional auto makers pouring billions into developing vehicles, is one problem. At the same time, the global shortage ofsemiconductorsis constraining automotive production around the globe, making it hard for EV makers to benefit from red-hot demand for cars and rising gasoline price.</p><p><blockquote>通货膨胀只是股市面临的最新问题。随着传统汽车制造商投入数十亿美元开发汽车，电动汽车行业的竞争加剧是一个问题。与此同时，全球半导体短缺限制了全球汽车生产，使得电动汽车制造商很难从汽车需求旺盛和汽油价格上涨中受益。</blockquote></p><p> What is more, many of the new EV companies became public by merging with special-purpose acquisition companies. Many SPAC stocks, not just the EV-related ones, are struggling. TheDefiance Next Gen SPAC Derived ETF(SPAK) is down 34% from its February 52-week high.</p><p><blockquote>更重要的是，许多新的电动汽车公司通过与特殊目的收购公司合并而上市。许多 SPAC 股票，而不仅仅是与电动汽车相关的股票，都在苦苦挣扎。Defiance Next Gen SPAC 衍生 ETF (SPAK) 较 2 月份的 52 周高点下跌 34%。</blockquote></p><p> A dozen EV-SPAC companies<i>Barron’s</i>tracks are now down 15% over the past year on average. Only five remain above their SPAC merger price of $10 a share: Lucid,Fisker(FSR),Arrival(ARVL),QuantumScape(QS), andNikola(NKLA).</p><p><blockquote>十几家电动汽车特殊目的收购公司<i>巴伦</i>与过去一年相比，轨道现在平均下降了15%。只有五家公司仍高于每股 10 美元的 SPAC 合并价格：Lucid、Fisker (FSR)、Arrival (ARVL)、QuantumScape (QS) 和 Nikola (NKLA)。</blockquote></p><p> Investors might believe that means those are the long-term winners among the EV SPAC stocks. But it is also possible their higher prices mean there is still further to fall.</p><p><blockquote>投资者可能认为这意味着这些是电动汽车特殊目的收购公司股票中的长期赢家。但也有可能它们的较高价格意味着还有进一步下跌的空间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/inflation-and-3-more-factors-that-are-popping-the-ev-stock-bubble-51620856104?mod=hp_LEAD_3\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","LI":"理想汽车","NIO":"蔚来","HYLN":"Hyliion Holdings Corp.","XPEV":"小鹏集团"},"source_url":"https://www.barrons.com/articles/inflation-and-3-more-factors-that-are-popping-the-ev-stock-bubble-51620856104?mod=hp_LEAD_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188302199","content_text":"Electric-vehicle investors are going through abrutal stretchafter an epic year.\nShares fell hard across the sector on Wednesday as concern aboutinflationjoined the list of worries dragging on the shares. Stock in Tesla (ticker: TSLA), the leader of the EV pack, dropped 4.4% Wednesday, closing below $600 a share for the first time since early March. Shares closed near the low of the day.\nThe average drop among the EV stocksBarron’stracks was about 3%. TheS&P 500,Dow Jones Industrial AverageandNasdaq Compositedropped 2.1%, 2% and 2.7%, respectively.\nBehind all those declines was news early in the day that consumer prices increased 4.2% year over year in April, far higher than the Federal Reserve’s 2% target. In April 2020, of course, things were falling apart, sending prices lower, amid Covid-19 lockdowns, so the gain was relative to a low base. But the March to April pickup in prices, excluding food and energy, was 0.9%. That rate equals full-year inflation of more than 11%.\nInflation that high is like a parasite, eating into savings and sucking energy out of the economy. It also tends to hurt stock valuations, especially those of expensive growth companies that are expected to generate most of their cash flows far in the future. Higher inflation means higher bond yields, which reduce the current value of future cash flows, partly because higher rates give investors options to earn more interest on their money right now.\nWednesday’s inflation-fueled declines are just the tip of the iceberg, though, for EV companies. Tesla stock is down about 34% from its January 52-week high of more than $900 a share. The average drop from 52-week highs for the rest of the EV names is about 70%. Investors just don’t have the appetite for more speculative, higher-growth stocks in the current environment.\nStock inChurchill Capital Acquisition Corp. IV(CCIV), the SPAC merging withLucid Motors, is down about 73% from its 52-week high.Hyliion(HYLN) shares are down about 86%. And theChineseEV makersNIO(NIO),XPeng(XPEV) andLi Auto(LI) have fallen an average of about 45% from their 52-week highs.\nInflation is just the latest problem for the stocks.More competitionin the EV business, with traditional auto makers pouring billions into developing vehicles, is one problem. At the same time, the global shortage ofsemiconductorsis constraining automotive production around the globe, making it hard for EV makers to benefit from red-hot demand for cars and rising gasoline price.\nWhat is more, many of the new EV companies became public by merging with special-purpose acquisition companies. Many SPAC stocks, not just the EV-related ones, are struggling. TheDefiance Next Gen SPAC Derived ETF(SPAK) is down 34% from its February 52-week high.\nA dozen EV-SPAC companiesBarron’stracks are now down 15% over the past year on average. Only five remain above their SPAC merger price of $10 a share: Lucid,Fisker(FSR),Arrival(ARVL),QuantumScape(QS), andNikola(NKLA).\nInvestors might believe that means those are the long-term winners among the EV SPAC stocks. But it is also possible their higher prices mean there is still further to fall.","news_type":1,"symbols_score_info":{"XPEV":0.9,"NIO":0.9,"HYLN":0.9,"LI":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1361,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":12,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/191469785"}
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