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2021-08-13

Will bounce

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2021-08-12

Good

Nio released earnings Wednesday. Here’s how to value its stock compared to Tesla, Ford and other rivals<blockquote>蔚来周三发布了财报。以下是与特斯拉、福特和其他竞争对手相比如何评估其股票的价值</blockquote>

2021-08-11

Leave

The Ark Funds' Actions to Lighten up China Concepts Stocks<blockquote>方舟基金减仓中概股的动作</blockquote>

2021-08-10

Good

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2021-08-09

Good

Gold Flash Crashes By Almost $100 As $4 Billion In Sell Orders Hit<blockquote>40亿美元卖单冲击黄金暴跌近100美元</blockquote>

2021-08-08

Good

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2021-08-06

Good

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2021-08-05

Good

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2021-08-04

Nice

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2021-08-03

Good

Is Now The Time To Buy Stock In Uber, Lyft, DoorDash Or Match Group?<blockquote>现在是购买Uber、Lyft、DoorDash或Match Group股票的时候吗？</blockquote>

2021-08-02

Nope

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2021-08-01

Good

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2021-07-31

Nice

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2021-07-31

Nice

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2021-07-30

Good

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2021-07-29

Nice

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2021-07-29

Nice

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2021-07-28

Good

How Plug Power Could Generate 7x Returns Over The Next Decade<blockquote>普拉格能源如何在未来十年创造7倍的回报</blockquote>

2021-07-27

Good

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2021-07-26

Nice

General Motors Sues Ford Alleging Trademark Infringement<blockquote>通用汽车起诉福特涉嫌商标侵权</blockquote>

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bounce","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894173782","repostId":"2159266201","repostType":4,"isVote":1,"tweetType":1,"viewCount":1594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895379957,"gmtCreate":1628726557579,"gmtModify":1631884928820,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/895379957","repostId":"1158059019","repostType":4,"repost":{"id":"1158059019","kind":"news","pubTimestamp":1628723143,"share":"https://www.laohu8.com/m/news/1158059019?lang=zh_CN&edition=full","pubTime":"2021-08-12 07:05","market":"hk","language":"en","title":"Nio released earnings Wednesday. Here’s how to value its stock compared to Tesla, Ford and other rivals<blockquote>蔚来周三发布了财报。以下是与特斯拉、福特和其他竞争对手相比如何评估其股票的价值</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158059019","media":"Market Wacth","summary":"Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle mak","content":"<p>Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle maker’s prospects.</p><p><blockquote>蔚来可能是一家相对较小的公司。但投资者看好这家中国电动汽车制造商的前景。</blockquote></p><p> Chinese electric-vehicle maker Nio Inc., which sells no cars in the U.S., has a market capitalization of $60.2 billion. By that measure, it is larger than <a href=\"https://laohu8.com/S/F\">Ford</a> Motor Co., which was founded in 1903.</p><p><blockquote>中国电动汽车制造商蔚来在美国不销售汽车，其市值为602亿美元。以此衡量，它大于<a href=\"https://laohu8.com/S/F\">福特</a>汽车公司，成立于1903年。</blockquote></p><p> That might make sense to you as an investor — after all, Nio is an innovative company that sells only electric vehicles. Ford is a legacy auto maker that is working to catch up and eventually make a full transition to electric vehicles. Shares of Nio have more than tripled in the past year, while Ford’s have almost doubled after cratering in the previous decade.</p><p><blockquote>作为投资者，这对您来说可能是有意义的——毕竟，蔚来是一家只销售电动汽车的创新公司。福特是一家传统汽车制造商，正在努力迎头赶上并最终全面过渡到电动汽车。蔚来的股价在过去一年上涨了两倍多，而福特的股价在过去十年暴跌后几乎翻了一番。</blockquote></p><p> So where does NioNIO,-0.57%,which reported second-quarter results after the stock market closes Wednesday, fit in an investment thesis? Below are screens showing how its stock valuation compares to vehicle production, and how that valuation relates to projected earnings through 2025.</p><p><blockquote>那么，周三股市收盘后公布第二季度业绩的NioNIO(-0.57%)在投资论点中处于什么位置呢？下面的屏幕显示了其股票估值与汽车产量的比较，以及该估值与2025年预计收益的关系。</blockquote></p><p> Doubling car production</p><p><blockquote>汽车产量翻倍</blockquote></p><p> For the second quarter, Nio delivered 21,896 vehicles for a 112% increase from a year earlier. The growth is impressive, but the total number of vehicles sold is still relatively small.</p><p><blockquote>第二季度，蔚来交付了21,896辆汽车，同比增长112%。增长令人印象深刻，但销售的车辆总数仍然相对较少。</blockquote></p><p> Here’s a look at the 10 largest auto makers by market capitalization, along with their second-quarter sales or delivery numbers (whichever was higher, if both were reported) and additional color below the table:<img src=\"https://static.tigerbbs.com/aab892102ecbb4cc4eda647df8269bb9\" tg-width=\"791\" tg-height=\"468\" referrerpolicy=\"no-referrer\">Click on the tickers for more about each company.</p><p><blockquote>以下是按市值计算的10家最大汽车制造商，以及它们第二季度的销售额或交付量（如果两者都报告，以较高者为准）以及表下方的附加颜色：单击股票代码了解有关每家公司的更多信息。</blockquote></p><p> You can see that those valuations are about the future, when innovators in the EV space — Tesla Inc.TSLA,-0.31%and Nio, on this list — may (or may not) become as large as legacy players.</p><p><blockquote>你可以看到，这些估值是关于未来的，届时电动汽车领域的创新者——特斯拉公司（TSLA，-0.31%）和蔚来（在此名单上）——可能（也可能不会）变得与传统企业一样大。</blockquote></p><p> For now, FordF,+0.80%churns out mostly internal combustion engine (ICE) vehicles at nearly 35 times the rate that Nio makes EVs.</p><p><blockquote>目前，福特汽车主要生产内燃机(ICE)汽车，其生产速度几乎是蔚来电动汽车生产速度的35倍。</blockquote></p><p> One thing to be aware of is that the legacy auto makers don’t all report their unit sales the same way. Most don’t break out electric vehicle sales.</p><p><blockquote>需要注意的一件事是，传统汽车制造商并不都以相同的方式报告其销量。大多数人都没有公布电动汽车销量。</blockquote></p><p> Among those that do, definitions vary. For example, Toyota Motor Corp.TM,+0.82%7203,+0.98%reported that “electrified vehicle” sales made up 26.6% of total auto sales during the second quarter. But that category includes:</p><p><blockquote>在那些这样做的国家中，定义各不相同。例如，丰田汽车公司(Toyota Motor Corp.TM,+0.82%7203,+0.98%)报告称，第二季度“电动汽车”销量占汽车总销量的26.6%。但该类别包括：</blockquote></p><p> <ul>  <li>HEV – hybrid EVs that are not plug-ins.</li>  <li>PHEV – plug-in electric vehicles.</li>  <li>BEV – battery electric vehicles.</li>  <li>FCEV – fuel-cell electric vehicles.</li> </ul> For Toyota, BEV made up only 0.2% of second-quarter sales, while they accounted for 100% of sales for Nio and Tesla. Toyota’s PHEV sales made up 1.4% of the total.</p><p><blockquote><ul><li>HEV-非插电式混合动力电动汽车。</li><li>插电式电动汽车。</li><li>纯电动汽车。</li><li>FCEV-燃料电池电动汽车。</li></ul>对于丰田来说，纯电动汽车仅占第二季度销量的0.2%，而蔚来和特斯拉则占100%。丰田的PHEV销量占总销量的1.4%。</blockquote></p><p> Volkswagen AGVWAGY,+1.52%VOW,+0.60%reports electric-vehicle sales as including PHEV, which accounted for 6.7% of second-quarter sales, or BEV, which made up 4.4% of total sales. Those are impressive numbers: a combined 11.1%.</p><p><blockquote>大众AGVWAGY,+1.52%VOW,+0.60%报告电动汽车销量包括PHEV（占第二季度销量的6.7%）或BEV（占总销量的4.4%）。这些数字令人印象深刻：总计11.1%。</blockquote></p><p> For Bayerische Motoren Werke AktiengesellschaftBMWYY,+0.56%BMW,+0.54%,better known as BWM Group, a second-quarter breakdown of electric-vehicle deliveries isn’t yet available, but for the first half of 2021, 153,243 all-electric or plug-in hybrid vehicles were delivered, or 11.4% of total deliveries.</p><p><blockquote>对于Bayerische Motoren Werke AktiengesellschaftBMWYY,+0.56%BMW,+0.54%（更广为人知的名称是BWM Group），第二季度电动汽车交付量的细分尚未公布，但2021年上半年，电动汽车交付量为153,243辆。交付了153,243辆电动汽车或插电式混合动力汽车，占总交付量的11.4%。</blockquote></p><p> Valuation to earnings estimates</p><p><blockquote>估值与盈利预测之比</blockquote></p><p> For companies at early stages, comparisons of price-to-earnings ratios may not mean very much. Such companies are focusing on growth rather than profits. An example of this has been <a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> Inc.AMZN,-0.86%,which has traded at a high P/E for decades as it has worked to expand into new lines of business, at the expense of the bottom line.</p><p><blockquote>对于处于早期阶段的公司来说，市盈率的比较可能意义不大。这类公司关注的是增长而不是利润。一个例子是<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>Inc.AMZN，-0.86%，几十年来，该公司一直以高市盈率交易，因为它致力于扩展到新的业务领域，但牺牲了利润。</blockquote></p><p> A high P/E ratio can reflect investors’ enthusiasm for innovation and in the case of EVs, a political consensus for transforming the industry. So Nio and Tesla trade at much higher P/E ratios than the legacy auto makers.</p><p><blockquote>高市盈率可以反映投资者对创新的热情，就电动汽车而言，也可以反映行业转型的政治共识。因此，蔚来和特斯拉的市盈率远高于传统汽车制造商。</blockquote></p><p> Then again, very low P/E may show too much contempt among investors for the older manufacturers, as they use their cash flow from continuing massive sales of traditional vehicles to fund their development of EVs. Opportunities may be highlighted.</p><p><blockquote>话又说回来，非常低的市盈率可能表明投资者对老牌制造商过于蔑视，因为他们利用持续大量销售传统汽车的现金流来资助电动汽车的开发。机会可能会凸显。</blockquote></p><p> Normally a forward P/E ratio is calculated by dividing the share price by a rolling consensus estimate of earnings per share for 12 months. This isn’t available for all the companies listed here, so we’re using consensus estimates for net income for calendar 2022.</p><p><blockquote>通常，远期市盈率的计算方法是将股价除以12个月每股收益的滚动共识估计。这并不适用于此处列出的所有公司，因此我们使用对2022年净利润的共识估计。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/FBNC\">First</a>, here are P/E ratios based on current market caps and consensus 2022 estimates among analysts polled by FactSet. The table includes the annual estimates going out to 2025, and also a P/E based on current market caps and the 2025 estimates:<img src=\"https://static.tigerbbs.com/40736da9fceac6db6166c509e26745b4\" tg-width=\"786\" tg-height=\"541\" referrerpolicy=\"no-referrer\">Nio is expected to become profitable in 2023. Looking out to 2024, its forward P/E is lower than that of Tesla. To put the forward P/E valuations in perspective, the S&amp;P 500 IndexSPX,+0.25%trades for a weighted 20.5 times consensus 2022 EPS estimates.</p><p><blockquote><a href=\"https://laohu8.com/S/FBNC\">第一</a>以下是基于当前市值和FactSet调查的分析师对2022年普遍预期的市盈率。该表包括截至2025年的年度预测，以及基于当前市值和2025年预测的市盈率：蔚来预计将于2023年实现盈利。展望2024年，其远期市盈率低于特斯拉。为了正确看待未来市盈率估值，标普500指数SPX,+0.25%的加权交易价格是2022年每股收益普遍预期的20.5倍。</blockquote></p><p> Valuation to sales</p><p><blockquote>估值与销售额之比</blockquote></p><p> <a href=\"https://laohu8.com/S/FORD\">Forward</a> price-to-sales estimates might be more useful for early-stage companies that are showing low profits or net losses. Then again, the same distortions apply: <a href=\"https://laohu8.com/S/ISBC\">Investors</a> love the pure-play EV makers now, and may be paying too much for them when you consider that shares of Nio have more than tripled over the past year, while Tesla’s stock has risen 150%.</p><p><blockquote><a href=\"https://laohu8.com/S/FORD\">向前</a>市销率估算对于利润较低或净亏损的早期公司可能更有用。同样的扭曲也适用：<a href=\"https://laohu8.com/S/ISBC\">投资者</a>现在喜欢纯电动汽车制造商，当你考虑到蔚来的股价在过去一年中上涨了两倍多，而特斯拉的股价却上涨了150%时，你可能会为它们付出太多。</blockquote></p><p> Here’s a similar set of data driving price-to-sale ratios, again using current market caps (in the first table at the top of this article) and consensus full-calendar-year estimates in millions of U.S. dollars:<img src=\"https://static.tigerbbs.com/c8a9291d237f12d658a1f5194ee8b9ef\" tg-width=\"783\" tg-height=\"446\" referrerpolicy=\"no-referrer\">For reference, the S&amp;P 500 trades for 2.7 times its consensus 2022 sales estimate.</p><p><blockquote>以下是一组推动市销率的类似数据，再次使用当前市值（在本文顶部的第一个表格中）和以百万美元为单位的共识全年估计：作为参考，标普500的交易价格是其2022年普遍销售预期的2.7倍。</blockquote></p><p> Analysts’ opinions</p><p><blockquote>分析师观点</blockquote></p><p> Here’s a summary of opinion of the 10 auto makers among analysts polled by FactSet. For companies with primary listings outside the U.S., the local tickers are used. All share prices and targets are in local currencies:<img src=\"https://static.tigerbbs.com/f738c7bce6230dbfd6e1f87a8fc98186\" tg-width=\"785\" tg-height=\"450\" referrerpolicy=\"no-referrer\"></p><p><blockquote>以下是FactSet调查的分析师对10家汽车制造商的看法摘要。对于主要在美国以外上市的公司，使用当地股票代码。所有股价和目标均以当地货币计算：</blockquote></p><p></p>","source":"lsy1604288433698","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>Nio released earnings Wednesday. Here’s how to value its stock compared to Tesla, Ford and other rivals<blockquote>蔚来周三发布了财报。以下是与特斯拉、福特和其他竞争对手相比如何评估其股票的价值</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\">\nNio released earnings Wednesday. Here’s how to value its stock compared to Tesla, Ford and other rivals<blockquote>蔚来周三发布了财报。以下是与特斯拉、福特和其他竞争对手相比如何评估其股票的价值</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Market Wacth</strong><span class=\"h-time small\">2021-08-12 07:05</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle maker’s prospects.</p><p><blockquote>蔚来可能是一家相对较小的公司。但投资者看好这家中国电动汽车制造商的前景。</blockquote></p><p> Chinese electric-vehicle maker Nio Inc., which sells no cars in the U.S., has a market capitalization of $60.2 billion. By that measure, it is larger than <a href=\"https://laohu8.com/S/F\">Ford</a> Motor Co., which was founded in 1903.</p><p><blockquote>中国电动汽车制造商蔚来在美国不销售汽车，其市值为602亿美元。以此衡量，它大于<a href=\"https://laohu8.com/S/F\">福特</a>汽车公司，成立于1903年。</blockquote></p><p> That might make sense to you as an investor — after all, Nio is an innovative company that sells only electric vehicles. Ford is a legacy auto maker that is working to catch up and eventually make a full transition to electric vehicles. Shares of Nio have more than tripled in the past year, while Ford’s have almost doubled after cratering in the previous decade.</p><p><blockquote>作为投资者，这对您来说可能是有意义的——毕竟，蔚来是一家只销售电动汽车的创新公司。福特是一家传统汽车制造商，正在努力迎头赶上并最终全面过渡到电动汽车。蔚来的股价在过去一年上涨了两倍多，而福特的股价在过去十年暴跌后几乎翻了一番。</blockquote></p><p> So where does NioNIO,-0.57%,which reported second-quarter results after the stock market closes Wednesday, fit in an investment thesis? Below are screens showing how its stock valuation compares to vehicle production, and how that valuation relates to projected earnings through 2025.</p><p><blockquote>那么，周三股市收盘后公布第二季度业绩的NioNIO(-0.57%)在投资论点中处于什么位置呢？下面的屏幕显示了其股票估值与汽车产量的比较，以及该估值与2025年预计收益的关系。</blockquote></p><p> Doubling car production</p><p><blockquote>汽车产量翻倍</blockquote></p><p> For the second quarter, Nio delivered 21,896 vehicles for a 112% increase from a year earlier. The growth is impressive, but the total number of vehicles sold is still relatively small.</p><p><blockquote>第二季度，蔚来交付了21,896辆汽车，同比增长112%。增长令人印象深刻，但销售的车辆总数仍然相对较少。</blockquote></p><p> Here’s a look at the 10 largest auto makers by market capitalization, along with their second-quarter sales or delivery numbers (whichever was higher, if both were reported) and additional color below the table:<img src=\"https://static.tigerbbs.com/aab892102ecbb4cc4eda647df8269bb9\" tg-width=\"791\" tg-height=\"468\" referrerpolicy=\"no-referrer\">Click on the tickers for more about each company.</p><p><blockquote>以下是按市值计算的10家最大汽车制造商，以及它们第二季度的销售额或交付量（如果两者都报告，以较高者为准）以及表下方的附加颜色：单击股票代码了解有关每家公司的更多信息。</blockquote></p><p> You can see that those valuations are about the future, when innovators in the EV space — Tesla Inc.TSLA,-0.31%and Nio, on this list — may (or may not) become as large as legacy players.</p><p><blockquote>你可以看到，这些估值是关于未来的，届时电动汽车领域的创新者——特斯拉公司（TSLA，-0.31%）和蔚来（在此名单上）——可能（也可能不会）变得与传统企业一样大。</blockquote></p><p> For now, FordF,+0.80%churns out mostly internal combustion engine (ICE) vehicles at nearly 35 times the rate that Nio makes EVs.</p><p><blockquote>目前，福特汽车主要生产内燃机(ICE)汽车，其生产速度几乎是蔚来电动汽车生产速度的35倍。</blockquote></p><p> One thing to be aware of is that the legacy auto makers don’t all report their unit sales the same way. Most don’t break out electric vehicle sales.</p><p><blockquote>需要注意的一件事是，传统汽车制造商并不都以相同的方式报告其销量。大多数人都没有公布电动汽车销量。</blockquote></p><p> Among those that do, definitions vary. For example, Toyota Motor Corp.TM,+0.82%7203,+0.98%reported that “electrified vehicle” sales made up 26.6% of total auto sales during the second quarter. But that category includes:</p><p><blockquote>在那些这样做的国家中，定义各不相同。例如，丰田汽车公司(Toyota Motor Corp.TM,+0.82%7203,+0.98%)报告称，第二季度“电动汽车”销量占汽车总销量的26.6%。但该类别包括：</blockquote></p><p> <ul>  <li>HEV – hybrid EVs that are not plug-ins.</li>  <li>PHEV – plug-in electric vehicles.</li>  <li>BEV – battery electric vehicles.</li>  <li>FCEV – fuel-cell electric vehicles.</li> </ul> For Toyota, BEV made up only 0.2% of second-quarter sales, while they accounted for 100% of sales for Nio and Tesla. Toyota’s PHEV sales made up 1.4% of the total.</p><p><blockquote><ul><li>HEV-非插电式混合动力电动汽车。</li><li>插电式电动汽车。</li><li>纯电动汽车。</li><li>FCEV-燃料电池电动汽车。</li></ul>对于丰田来说，纯电动汽车仅占第二季度销量的0.2%，而蔚来和特斯拉则占100%。丰田的PHEV销量占总销量的1.4%。</blockquote></p><p> Volkswagen AGVWAGY,+1.52%VOW,+0.60%reports electric-vehicle sales as including PHEV, which accounted for 6.7% of second-quarter sales, or BEV, which made up 4.4% of total sales. Those are impressive numbers: a combined 11.1%.</p><p><blockquote>大众AGVWAGY,+1.52%VOW,+0.60%报告电动汽车销量包括PHEV（占第二季度销量的6.7%）或BEV（占总销量的4.4%）。这些数字令人印象深刻：总计11.1%。</blockquote></p><p> For Bayerische Motoren Werke AktiengesellschaftBMWYY,+0.56%BMW,+0.54%,better known as BWM Group, a second-quarter breakdown of electric-vehicle deliveries isn’t yet available, but for the first half of 2021, 153,243 all-electric or plug-in hybrid vehicles were delivered, or 11.4% of total deliveries.</p><p><blockquote>对于Bayerische Motoren Werke AktiengesellschaftBMWYY,+0.56%BMW,+0.54%（更广为人知的名称是BWM Group），第二季度电动汽车交付量的细分尚未公布，但2021年上半年，电动汽车交付量为153,243辆。交付了153,243辆电动汽车或插电式混合动力汽车，占总交付量的11.4%。</blockquote></p><p> Valuation to earnings estimates</p><p><blockquote>估值与盈利预测之比</blockquote></p><p> For companies at early stages, comparisons of price-to-earnings ratios may not mean very much. Such companies are focusing on growth rather than profits. An example of this has been <a href=\"https://laohu8.com/S/AMZN\">Amazon.com</a> Inc.AMZN,-0.86%,which has traded at a high P/E for decades as it has worked to expand into new lines of business, at the expense of the bottom line.</p><p><blockquote>对于处于早期阶段的公司来说，市盈率的比较可能意义不大。这类公司关注的是增长而不是利润。一个例子是<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>Inc.AMZN，-0.86%，几十年来，该公司一直以高市盈率交易，因为它致力于扩展到新的业务领域，但牺牲了利润。</blockquote></p><p> A high P/E ratio can reflect investors’ enthusiasm for innovation and in the case of EVs, a political consensus for transforming the industry. So Nio and Tesla trade at much higher P/E ratios than the legacy auto makers.</p><p><blockquote>高市盈率可以反映投资者对创新的热情，就电动汽车而言，也可以反映行业转型的政治共识。因此，蔚来和特斯拉的市盈率远高于传统汽车制造商。</blockquote></p><p> Then again, very low P/E may show too much contempt among investors for the older manufacturers, as they use their cash flow from continuing massive sales of traditional vehicles to fund their development of EVs. Opportunities may be highlighted.</p><p><blockquote>话又说回来，非常低的市盈率可能表明投资者对老牌制造商过于蔑视，因为他们利用持续大量销售传统汽车的现金流来资助电动汽车的开发。机会可能会凸显。</blockquote></p><p> Normally a forward P/E ratio is calculated by dividing the share price by a rolling consensus estimate of earnings per share for 12 months. This isn’t available for all the companies listed here, so we’re using consensus estimates for net income for calendar 2022.</p><p><blockquote>通常，远期市盈率的计算方法是将股价除以12个月每股收益的滚动共识估计。这并不适用于此处列出的所有公司，因此我们使用对2022年净利润的共识估计。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/FBNC\">First</a>, here are P/E ratios based on current market caps and consensus 2022 estimates among analysts polled by FactSet. The table includes the annual estimates going out to 2025, and also a P/E based on current market caps and the 2025 estimates:<img src=\"https://static.tigerbbs.com/40736da9fceac6db6166c509e26745b4\" tg-width=\"786\" tg-height=\"541\" referrerpolicy=\"no-referrer\">Nio is expected to become profitable in 2023. Looking out to 2024, its forward P/E is lower than that of Tesla. To put the forward P/E valuations in perspective, the S&amp;P 500 IndexSPX,+0.25%trades for a weighted 20.5 times consensus 2022 EPS estimates.</p><p><blockquote><a href=\"https://laohu8.com/S/FBNC\">第一</a>以下是基于当前市值和FactSet调查的分析师对2022年普遍预期的市盈率。该表包括截至2025年的年度预测，以及基于当前市值和2025年预测的市盈率：蔚来预计将于2023年实现盈利。展望2024年，其远期市盈率低于特斯拉。为了正确看待未来市盈率估值，标普500指数SPX,+0.25%的加权交易价格是2022年每股收益普遍预期的20.5倍。</blockquote></p><p> Valuation to sales</p><p><blockquote>估值与销售额之比</blockquote></p><p> <a href=\"https://laohu8.com/S/FORD\">Forward</a> price-to-sales estimates might be more useful for early-stage companies that are showing low profits or net losses. Then again, the same distortions apply: <a href=\"https://laohu8.com/S/ISBC\">Investors</a> love the pure-play EV makers now, and may be paying too much for them when you consider that shares of Nio have more than tripled over the past year, while Tesla’s stock has risen 150%.</p><p><blockquote><a href=\"https://laohu8.com/S/FORD\">向前</a>市销率估算对于利润较低或净亏损的早期公司可能更有用。同样的扭曲也适用：<a href=\"https://laohu8.com/S/ISBC\">投资者</a>现在喜欢纯电动汽车制造商，当你考虑到蔚来的股价在过去一年中上涨了两倍多，而特斯拉的股价却上涨了150%时，你可能会为它们付出太多。</blockquote></p><p> Here’s a similar set of data driving price-to-sale ratios, again using current market caps (in the first table at the top of this article) and consensus full-calendar-year estimates in millions of U.S. dollars:<img src=\"https://static.tigerbbs.com/c8a9291d237f12d658a1f5194ee8b9ef\" tg-width=\"783\" tg-height=\"446\" referrerpolicy=\"no-referrer\">For reference, the S&amp;P 500 trades for 2.7 times its consensus 2022 sales estimate.</p><p><blockquote>以下是一组推动市销率的类似数据，再次使用当前市值（在本文顶部的第一个表格中）和以百万美元为单位的共识全年估计：作为参考，标普500的交易价格是其2022年普遍销售预期的2.7倍。</blockquote></p><p> Analysts’ opinions</p><p><blockquote>分析师观点</blockquote></p><p> Here’s a summary of opinion of the 10 auto makers among analysts polled by FactSet. For companies with primary listings outside the U.S., the local tickers are used. All share prices and targets are in local currencies:<img src=\"https://static.tigerbbs.com/f738c7bce6230dbfd6e1f87a8fc98186\" tg-width=\"785\" tg-height=\"450\" referrerpolicy=\"no-referrer\"></p><p><blockquote>以下是FactSet调查的分析师对10家汽车制造商的看法摘要。对于主要在美国以外上市的公司，使用当地股票代码。所有股价和目标均以当地货币计算：</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/nio-releases-earnings-wednesday-heres-how-to-value-its-stock-compared-to-tesla-ford-and-other-rivals-11628716814?mod=home-page\">Market Wacth</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":{"F":"福特汽车","NIO":"蔚来"},"source_url":"https://www.marketwatch.com/story/nio-releases-earnings-wednesday-heres-how-to-value-its-stock-compared-to-tesla-ford-and-other-rivals-11628716814?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158059019","content_text":"Nio may be a relatively small company. But investors are bullish on the Chinese electric-vehicle maker’s prospects.\nChinese electric-vehicle maker Nio Inc., which sells no cars in the U.S., has a market capitalization of $60.2 billion. By that measure, it is larger than Ford Motor Co., which was founded in 1903.\nThat might make sense to you as an investor — after all, Nio is an innovative company that sells only electric vehicles. Ford is a legacy auto maker that is working to catch up and eventually make a full transition to electric vehicles. Shares of Nio have more than tripled in the past year, while Ford’s have almost doubled after cratering in the previous decade.\nSo where does NioNIO,-0.57%,which reported second-quarter results after the stock market closes Wednesday, fit in an investment thesis? Below are screens showing how its stock valuation compares to vehicle production, and how that valuation relates to projected earnings through 2025.\nDoubling car production\nFor the second quarter, Nio delivered 21,896 vehicles for a 112% increase from a year earlier. The growth is impressive, but the total number of vehicles sold is still relatively small.\nHere’s a look at the 10 largest auto makers by market capitalization, along with their second-quarter sales or delivery numbers (whichever was higher, if both were reported) and additional color below the table:Click on the tickers for more about each company.\nYou can see that those valuations are about the future, when innovators in the EV space — Tesla Inc.TSLA,-0.31%and Nio, on this list — may (or may not) become as large as legacy players.\nFor now, FordF,+0.80%churns out mostly internal combustion engine (ICE) vehicles at nearly 35 times the rate that Nio makes EVs.\nOne thing to be aware of is that the legacy auto makers don’t all report their unit sales the same way. Most don’t break out electric vehicle sales.\nAmong those that do, definitions vary. For example, Toyota Motor Corp.TM,+0.82%7203,+0.98%reported that “electrified vehicle” sales made up 26.6% of total auto sales during the second quarter. But that category includes:\n\nHEV – hybrid EVs that are not plug-ins.\nPHEV – plug-in electric vehicles.\nBEV – battery electric vehicles.\nFCEV – fuel-cell electric vehicles.\n\nFor Toyota, BEV made up only 0.2% of second-quarter sales, while they accounted for 100% of sales for Nio and Tesla. Toyota’s PHEV sales made up 1.4% of the total.\nVolkswagen AGVWAGY,+1.52%VOW,+0.60%reports electric-vehicle sales as including PHEV, which accounted for 6.7% of second-quarter sales, or BEV, which made up 4.4% of total sales. Those are impressive numbers: a combined 11.1%.\nFor Bayerische Motoren Werke AktiengesellschaftBMWYY,+0.56%BMW,+0.54%,better known as BWM Group, a second-quarter breakdown of electric-vehicle deliveries isn’t yet available, but for the first half of 2021, 153,243 all-electric or plug-in hybrid vehicles were delivered, or 11.4% of total deliveries.\nValuation to earnings estimates\nFor companies at early stages, comparisons of price-to-earnings ratios may not mean very much. Such companies are focusing on growth rather than profits. An example of this has been Amazon.com Inc.AMZN,-0.86%,which has traded at a high P/E for decades as it has worked to expand into new lines of business, at the expense of the bottom line.\nA high P/E ratio can reflect investors’ enthusiasm for innovation and in the case of EVs, a political consensus for transforming the industry. So Nio and Tesla trade at much higher P/E ratios than the legacy auto makers.\nThen again, very low P/E may show too much contempt among investors for the older manufacturers, as they use their cash flow from continuing massive sales of traditional vehicles to fund their development of EVs. Opportunities may be highlighted.\nNormally a forward P/E ratio is calculated by dividing the share price by a rolling consensus estimate of earnings per share for 12 months. This isn’t available for all the companies listed here, so we’re using consensus estimates for net income for calendar 2022.\nFirst, here are P/E ratios based on current market caps and consensus 2022 estimates among analysts polled by FactSet. The table includes the annual estimates going out to 2025, and also a P/E based on current market caps and the 2025 estimates:Nio is expected to become profitable in 2023. Looking out to 2024, its forward P/E is lower than that of Tesla. To put the forward P/E valuations in perspective, the S&P 500 IndexSPX,+0.25%trades for a weighted 20.5 times consensus 2022 EPS estimates.\nValuation to sales\nForward price-to-sales estimates might be more useful for early-stage companies that are showing low profits or net losses. Then again, the same distortions apply: Investors love the pure-play EV makers now, and may be paying too much for them when you consider that shares of Nio have more than tripled over the past year, while Tesla’s stock has risen 150%.\nHere’s a similar set of data driving price-to-sale ratios, again using current market caps (in the first table at the top of this article) and consensus full-calendar-year estimates in millions of U.S. dollars:For reference, the S&P 500 trades for 2.7 times its consensus 2022 sales estimate.\nAnalysts’ opinions\nHere’s a summary of opinion of the 10 auto makers among analysts polled by FactSet. For companies with primary listings outside the U.S., the local tickers are used. All share prices and targets are in local currencies:","news_type":1,"symbols_score_info":{"F":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":3087,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":892646998,"gmtCreate":1628658605114,"gmtModify":1631884928833,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Leave","listText":"Leave","text":"Leave","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/892646998","repostId":"1163924715","repostType":4,"repost":{"id":"1163924715","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628654753,"share":"https://www.laohu8.com/m/news/1163924715?lang=zh_CN&edition=full","pubTime":"2021-08-11 12:05","market":"sh","language":"en","title":"The Ark Funds' Actions to Lighten up China Concepts Stocks<blockquote>方舟基金减仓中概股的动作</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163924715","media":"Tiger Newspress","summary":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond","content":"<p><b>Pre-market overview</b></p><p><blockquote><b>上市前概述</b></blockquote></p><p> U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p><p><blockquote>美股盘前下跌，美国10年期国债收益率在亚洲时段再度走低，拖累大宗商品价格，原油跌幅最高达5%，中概股盘前小幅上涨。</blockquote></p><p> In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p><p><blockquote>在二级市场上，有两类美国基金愿意在中国进行投资。其中，其中一家公司已经清算或正在逐步清算其持有的股份。根据方舟基金的日常操作，其一直在减仓包括腾讯控股在内的中概股，从未加仓，尽管前述股票近期出现了一定反弹。最近出现的一个更令人高兴的信号是，方舟基金已经停止减仓中国股票。</blockquote></p><p> On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p><p><blockquote>7月1日，方舟基金共覆盖了10只在美上市的中概股，其中包括8只在美国场外交易（OTC）交易的中概股和2只港股，以当日收盘价计算，这10只股票合计吸金18亿美元，如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>About Its Positions</b></p><p><blockquote><b>关于其立场</b></blockquote></p><p> As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p><p><blockquote>作为一只投资中国股票不够活跃的基金，18亿美元的持仓规模很难说小。投资新兴市场的最大共同基金是景顺发展中市场基金，该基金在中国的投资额为150亿美元，涵盖中概股、港股和A股。因此，方舟在中国的投资并非微不足道。</blockquote></p><p> The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p><p><blockquote>方舟基金号称以技术为本，但似乎该基金并不完全信任中国的技术。通过分析其持有的中国股票，方舟基金目前持有的最多头寸是拥有巨大购买力的电子商务股票，而不是科技公司的股票。美国投资者、Ark Invest首席执行官兼首席信息官Cathie Wood曾在电视上称赞百度的无人驾驶技术，而他们在百度股票中的持仓并没有那么大。然后，中国的新能源汽车来了。方舟基金的投资目标不是中国电动汽车三巨头，包括<a href=\"https://laohu8.com/S/LI\">理想汽车</a>,<a href=\"https://laohu8.com/S/NIO\">蔚来</a>和<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>，但是小牛电动。生产的电动汽车<a href=\"https://laohu8.com/S/NIU\">小牛电动</a>在纽约卖得很好，而另外三家制造商尚未扩展到美国。再次反映了凯西·伍德对中国“技术”的怀疑态度。</blockquote></p><p> <b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p><p><blockquote><b>让我们来看看方舟基金的减仓情况</b></blockquote></p><p> 10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p><p><blockquote>选择10只股票分析其份额变化。7月1日持仓最多的5只股票（京东、TCEHY、BEKE、PDD、百度）如图1所示，合计15亿美元，占比约80%，另外5只股票分别是阿里巴巴、牛、虎牙、比亚迪、BZ，合计3亿美元，占比约20%（图2）。关键日期标记如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2</span></p></blockquote></p><p> The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p><p><blockquote>方舟基金在7月13日和14日清仓了虎牙的所有头寸（如上图所示）。虎牙与斗鱼合并失败的消息于7月12日公布，但方舟基金当天并未大幅减仓，延续了前几日的节奏。</blockquote></p><p> Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p><p><blockquote>另一个标记的日期是7月26日（图1）。7月23日星期五，中国教育股暴跌超过50%。那一天，很少有人意识到发生了连锁反应，在香港上市的中资股将在接下来的一周暴跌。方舟基金也没有意识到这一点。7月26日，方舟基金不得不减仓。前5大持仓均被Ark减持，贝壳控股站在缺口处。这反映了Cathie Wood对中国高增长公司的怀疑。</blockquote></p><p></p><p> The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p><p><blockquote>第三个标记日期是7月28日，如图2所示。在此轮动荡中，方舟基金仅减仓了BOSS直聘的股票（<a href=\"https://laohu8.com/S/BZ\">看准有限公司</a>），这也是一家市值比较小的公司。与此同时，凯西·伍德仍然非常坚持在小牛电动的投资。</blockquote></p><p> In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</p><p><blockquote>过去一周，中概股价格仍在低位徘徊，但方舟基金不再减仓。目前只剩下7只股票。以上周五收盘价计算，持仓为4.5亿美元，与7月1日相比减少了75%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Ark Funds' Actions to Lighten up China Concepts Stocks<blockquote>方舟基金减仓中概股的动作</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\">\nThe Ark Funds' Actions to Lighten up China Concepts Stocks<blockquote>方舟基金减仓中概股的动作</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-11 12:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Pre-market overview</b></p><p><blockquote><b>上市前概述</b></blockquote></p><p> U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p><p><blockquote>美股盘前下跌，美国10年期国债收益率在亚洲时段再度走低，拖累大宗商品价格，原油跌幅最高达5%，中概股盘前小幅上涨。</blockquote></p><p> In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p><p><blockquote>在二级市场上，有两类美国基金愿意在中国进行投资。其中，其中一家公司已经清算或正在逐步清算其持有的股份。根据方舟基金的日常操作，其一直在减仓包括腾讯控股在内的中概股，从未加仓，尽管前述股票近期出现了一定反弹。最近出现的一个更令人高兴的信号是，方舟基金已经停止减仓中国股票。</blockquote></p><p> On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p><p><blockquote>7月1日，方舟基金共覆盖了10只在美上市的中概股，其中包括8只在美国场外交易（OTC）交易的中概股和2只港股，以当日收盘价计算，这10只股票合计吸金18亿美元，如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>About Its Positions</b></p><p><blockquote><b>关于其立场</b></blockquote></p><p> As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p><p><blockquote>作为一只投资中国股票不够活跃的基金，18亿美元的持仓规模很难说小。投资新兴市场的最大共同基金是景顺发展中市场基金，该基金在中国的投资额为150亿美元，涵盖中概股、港股和A股。因此，方舟在中国的投资并非微不足道。</blockquote></p><p> The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p><p><blockquote>方舟基金号称以技术为本，但似乎该基金并不完全信任中国的技术。通过分析其持有的中国股票，方舟基金目前持有的最多头寸是拥有巨大购买力的电子商务股票，而不是科技公司的股票。美国投资者、Ark Invest首席执行官兼首席信息官Cathie Wood曾在电视上称赞百度的无人驾驶技术，而他们在百度股票中的持仓并没有那么大。然后，中国的新能源汽车来了。方舟基金的投资目标不是中国电动汽车三巨头，包括<a href=\"https://laohu8.com/S/LI\">理想汽车</a>,<a href=\"https://laohu8.com/S/NIO\">蔚来</a>和<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>，但是小牛电动。生产的电动汽车<a href=\"https://laohu8.com/S/NIU\">小牛电动</a>在纽约卖得很好，而另外三家制造商尚未扩展到美国。再次反映了凯西·伍德对中国“技术”的怀疑态度。</blockquote></p><p> <b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p><p><blockquote><b>让我们来看看方舟基金的减仓情况</b></blockquote></p><p> 10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p><p><blockquote>选择10只股票分析其份额变化。7月1日持仓最多的5只股票（京东、TCEHY、BEKE、PDD、百度）如图1所示，合计15亿美元，占比约80%，另外5只股票分别是阿里巴巴、牛、虎牙、比亚迪、BZ，合计3亿美元，占比约20%（图2）。关键日期标记如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2</span></p></blockquote></p><p> The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p><p><blockquote>方舟基金在7月13日和14日清仓了虎牙的所有头寸（如上图所示）。虎牙与斗鱼合并失败的消息于7月12日公布，但方舟基金当天并未大幅减仓，延续了前几日的节奏。</blockquote></p><p> Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p><p><blockquote>另一个标记的日期是7月26日（图1）。7月23日星期五，中国教育股暴跌超过50%。那一天，很少有人意识到发生了连锁反应，在香港上市的中资股将在接下来的一周暴跌。方舟基金也没有意识到这一点。7月26日，方舟基金不得不减仓。前5大持仓均被Ark减持，贝壳控股站在缺口处。这反映了Cathie Wood对中国高增长公司的怀疑。</blockquote></p><p></p><p> The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p><p><blockquote>第三个标记日期是7月28日，如图2所示。在此轮动荡中，方舟基金仅减仓了BOSS直聘的股票（<a href=\"https://laohu8.com/S/BZ\">看准有限公司</a>），这也是一家市值比较小的公司。与此同时，凯西·伍德仍然非常坚持在小牛电动的投资。</blockquote></p><p> In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</p><p><blockquote>过去一周，中概股价格仍在低位徘徊，但方舟基金不再减仓。目前只剩下7只股票。以上周五收盘价计算，持仓为4.5亿美元，与7月1日相比减少了75%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","NIU":"小牛电动","NIO":"蔚来","BZ":"BOSS直聘","LI":"理想汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163924715","content_text":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond Yields dropped again in Asias hours, pulling down the prices of commodities with crude oil falling up to 5%. China Concepts Stocks rose slightly in the pre-market trading.\nIn the secondary market, there are two types of US funds willing to make investments in China. Thereinto, one of them has liquidated or been gradually liquidating their holdings. According to the daily operations of the Ark Funds, it has been reducing its positions in China Concepts Stocks including Tencent, and has never increased its positions, although the afore-mentioned stocks have rebounded to some extent recently. A more pleasing signal appeared lately is that the Ark Funds has stopped lightening up Chinese stocks.\nOn July 1st, a total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including 8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC). Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as shown in the following figure.\n\nAbout Its Positions\nAs a fund that is not active enough to invest in Chinese stocks, it is hard to say that the size of $1.8-billion position is small. The largest mutual fund that invests in emerging markets is the Invesco Developing Markets Fund, which has an investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks and A shares. Therefore, Ark's investment in China is not trivial.\nThe Ark Funds claims to be technology-based, but it seems that the Funds does not fully trust China's technology. By analyzing its holdings on Chinese stocks, the most positions held by the Ark Funds now are stocks of e-commerce which owns vast purchasing power, rather than those of technology companies. Cathie Wood, an American investor as well as the CEO & CIO of Ark Invest, once praised Baidu's driverless technology on TV, while their position in Baidu’s stock is not so large. Then, here comes the new energy vehicles of China. The investment target of the Ark Funds is not the Chinese EV trio including Li Auto, NIO Inc. and XPeng Inc., but NIU Technologies. The electric vehicles produced by Niu Technologies are good sellers in New York, while another three makers have not yet expanded into the United States. Once again, it reflects Cathie Wood's skeptical attitude towards China's \"technology\".\nLet’s look into the lightening of the Ark Funds\n10 stocks are chosen to analyze their share changes. 5 stocks with the largest positions on July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5 billion, accounting for about 80%. Another 5 stocks are BABA, NIU, HUYA, BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key dates are marked below.\nFigure 1\nFigure 2\nThe Ark Funds cleared all its positions in HUYA on July 13 and 14 (marked in the Figure above). The news of the failed merger between Huya and DouYu was announced on July 12, but the Ark Funds did not substantially lighten up its position on the day, and continued the pace in the past few days. \nAnother marked date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on Friday, July 23. On that day, few people realized that a chain reaction had occurred, and Chinese stocks listed in Hong Kong would slump in the following week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had to lighten up its positions. The top 5 largest positions were all reduced by Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's suspicion of high-growth companies in China.\nThe third marked date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds only lightened up its positions in the stocks of BOSS Zhipin (Kanzhun Limited), which is also a company with a relatively small market value. Meanwhile, Cathie Wood is still very insistent on the investments in NIU Technologies.\nIn the past week, the prices of China Concepts Stocks still hovered at a low level, but the Ark Funds no longer lightened up their positions. At present, there are only 7 stocks left. Based on the closing price last Friday, the position is $450 million, which is a 75% decrease compared to that of July 1.","news_type":1,"symbols_score_info":{"BZ":0.9,"NIO":0.9,"LI":0.9,"XPEV":0.9,"NIU":0.9}},"isVote":1,"tweetType":1,"viewCount":3238,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896981782,"gmtCreate":1628551808346,"gmtModify":1631884928845,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/896981782","repostId":"2158444088","repostType":4,"isVote":1,"tweetType":1,"viewCount":3075,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898974734,"gmtCreate":1628471504228,"gmtModify":1631884928861,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/898974734","repostId":"1185065702","repostType":4,"repost":{"id":"1185065702","kind":"news","pubTimestamp":1628466800,"share":"https://www.laohu8.com/m/news/1185065702?lang=zh_CN&edition=full","pubTime":"2021-08-09 07:53","market":"other","language":"en","title":"Gold Flash Crashes By Almost $100 As $4 Billion In Sell Orders Hit<blockquote>40亿美元卖单冲击黄金暴跌近100美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1185065702","media":"zerohedge","summary":"In the liquidity void that follows the resumption of futures trading, and which saw US futures trade","content":"<p>In the liquidity void that follows the resumption of futures trading, and which saw US futures trade modestly lower, a sudden burst of selling in the gold futures contract sent Gold pries plunging to as low as $1,677.0 or almost $100 lower from the Friday close of $1,761.50.</p><p><blockquote>在期货交易恢复后的流动性空白中，美国期货交易小幅走低，黄金期货合约突然出现抛售，导致金价暴跌至1677.0美元，较周五收盘价1761.50美元低近100美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/272d83e70ccb2fd571035ad60452cbed\" tg-width=\"500\" tg-height=\"288\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Together with Friday's post-payroll plunge, this has been the biggest 2-day drop in gold (in dollar terms) since the March 2020 crash.</p><p><blockquote>加上周五的就业后暴跌，这是自2020年3月崩盘以来黄金（以美元计算）最大的两天跌幅。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f92d2cc2e71814619df3829c436204ae\" tg-width=\"500\" tg-height=\"274\" referrerpolicy=\"no-referrer\">However, unlike Friday when gold moved in response to the spike in the dollar and the surge in yields...</p><p><blockquote>然而，与周五金价因美元飙升和收益率飙升而波动不同...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d19874d3f898df5d39a0c5e2bcb2fdf\" tg-width=\"500\" tg-height=\"290\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> ... there was no offsetting move in any securities after the futures reopen (the 10Y traded back over 1.30% but the move was orderly) when<b>over $4 billion notional, or some 24,000 contracts</b>...</p><p><blockquote>...期货重新开市后，任何证券都没有出现抵消走势（10年期债券的交易回升超过1.30%，但走势是有序的）<b>名义价值超过40亿美元，或约24,000份合同</b>...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5590692ebb0605362ef3efae86076d04\" tg-width=\"500\" tg-height=\"262\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> ... were suddenly and furiously dumped in a completely price-indiscriminate manner whose apparent intention was to nuke the entire bid-stack.</p><p><blockquote>...突然而愤怒地以一种完全不分价格的方式被抛弃，其明显意图是摧毁整个投标堆栈。</blockquote></p><p> While there was no news or even pair-trade correlation catalyst behind the move, technicians have noted a \"death cross\" alongside a technical breach of USD 1,750/oz which triggered liquidation stops to the downside.</p><p><blockquote>虽然此举背后没有新闻，甚至没有配对交易相关性催化剂，但技术人员注意到“死亡交叉”以及1750美元/盎司的技术突破，引发了下行的清算止损。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c3a7ded020658ed37bc633e88a19134f\" tg-width=\"500\" tg-height=\"291\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Silver was also slammed...</p><p><blockquote>白银也遭到猛烈抨击...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/71b8025af79003cde8e3ea98e90fc2ff\" tg-width=\"500\" tg-height=\"262\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> And equity futures have tumbled to Friday's post-payrolls lows...</p><p><blockquote>股票期货跌至周五就业后的低点...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff1bb26f28ee527276d52804156a056a\" tg-width=\"500\" tg-height=\"264\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> For now, gold appears to have stabilized around the $1700 level.</p><p><blockquote>就目前而言，黄金似乎已经稳定在1700美元水平附近。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Gold Flash Crashes By Almost $100 As $4 Billion In Sell Orders Hit<blockquote>40亿美元卖单冲击黄金暴跌近100美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGold Flash Crashes By Almost $100 As $4 Billion In Sell Orders Hit<blockquote>40亿美元卖单冲击黄金暴跌近100美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-08-09 07:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>In the liquidity void that follows the resumption of futures trading, and which saw US futures trade modestly lower, a sudden burst of selling in the gold futures contract sent Gold pries plunging to as low as $1,677.0 or almost $100 lower from the Friday close of $1,761.50.</p><p><blockquote>在期货交易恢复后的流动性空白中，美国期货交易小幅走低，黄金期货合约突然出现抛售，导致金价暴跌至1677.0美元，较周五收盘价1761.50美元低近100美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/272d83e70ccb2fd571035ad60452cbed\" tg-width=\"500\" tg-height=\"288\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Together with Friday's post-payroll plunge, this has been the biggest 2-day drop in gold (in dollar terms) since the March 2020 crash.</p><p><blockquote>加上周五的就业后暴跌，这是自2020年3月崩盘以来黄金（以美元计算）最大的两天跌幅。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f92d2cc2e71814619df3829c436204ae\" tg-width=\"500\" tg-height=\"274\" referrerpolicy=\"no-referrer\">However, unlike Friday when gold moved in response to the spike in the dollar and the surge in yields...</p><p><blockquote>然而，与周五金价因美元飙升和收益率飙升而波动不同...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8d19874d3f898df5d39a0c5e2bcb2fdf\" tg-width=\"500\" tg-height=\"290\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> ... there was no offsetting move in any securities after the futures reopen (the 10Y traded back over 1.30% but the move was orderly) when<b>over $4 billion notional, or some 24,000 contracts</b>...</p><p><blockquote>...期货重新开市后，任何证券都没有出现抵消走势（10年期债券的交易回升超过1.30%，但走势是有序的）<b>名义价值超过40亿美元，或约24,000份合同</b>...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5590692ebb0605362ef3efae86076d04\" tg-width=\"500\" tg-height=\"262\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> ... were suddenly and furiously dumped in a completely price-indiscriminate manner whose apparent intention was to nuke the entire bid-stack.</p><p><blockquote>...突然而愤怒地以一种完全不分价格的方式被抛弃，其明显意图是摧毁整个投标堆栈。</blockquote></p><p> While there was no news or even pair-trade correlation catalyst behind the move, technicians have noted a \"death cross\" alongside a technical breach of USD 1,750/oz which triggered liquidation stops to the downside.</p><p><blockquote>虽然此举背后没有新闻，甚至没有配对交易相关性催化剂，但技术人员注意到“死亡交叉”以及1750美元/盎司的技术突破，引发了下行的清算止损。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c3a7ded020658ed37bc633e88a19134f\" tg-width=\"500\" tg-height=\"291\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Silver was also slammed...</p><p><blockquote>白银也遭到猛烈抨击...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/71b8025af79003cde8e3ea98e90fc2ff\" tg-width=\"500\" tg-height=\"262\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> And equity futures have tumbled to Friday's post-payrolls lows...</p><p><blockquote>股票期货跌至周五就业后的低点...</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ff1bb26f28ee527276d52804156a056a\" tg-width=\"500\" tg-height=\"264\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> For now, gold appears to have stabilized around the $1700 level.</p><p><blockquote>就目前而言，黄金似乎已经稳定在1700美元水平附近。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/gold-flash-crashes-almost-100-4-billion-sell-order-hits?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOLD":"Gold.com"},"source_url":"https://www.zerohedge.com/markets/gold-flash-crashes-almost-100-4-billion-sell-order-hits?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185065702","content_text":"In the liquidity void that follows the resumption of futures trading, and which saw US futures trade modestly lower, a sudden burst of selling in the gold futures contract sent Gold pries plunging to as low as $1,677.0 or almost $100 lower from the Friday close of $1,761.50.\n\nTogether with Friday's post-payroll plunge, this has been the biggest 2-day drop in gold (in dollar terms) since the March 2020 crash.\nHowever, unlike Friday when gold moved in response to the spike in the dollar and the surge in yields...\n\n... there was no offsetting move in any securities after the futures reopen (the 10Y traded back over 1.30% but the move was orderly) whenover $4 billion notional, or some 24,000 contracts...\n\n... were suddenly and furiously dumped in a completely price-indiscriminate manner whose apparent intention was to nuke the entire bid-stack.\nWhile there was no news or even pair-trade correlation catalyst behind the move, technicians have noted a \"death cross\" alongside a technical breach of USD 1,750/oz which triggered liquidation stops to the downside.\n\nSilver was also slammed...\n\nAnd equity futures have tumbled to Friday's post-payrolls lows...\n\nFor now, gold appears to have stabilized around the $1700 level.","news_type":1,"symbols_score_info":{"GCmain":0.9,"GOLDmain":0.9,"GOLD":0.9}},"isVote":1,"tweetType":1,"viewCount":3032,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":891614315,"gmtCreate":1628386132137,"gmtModify":1631884928873,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/891614315","repostId":"1143051031","repostType":4,"isVote":1,"tweetType":1,"viewCount":1942,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899534375,"gmtCreate":1628205812197,"gmtModify":1631884928887,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/899534375","repostId":"2157456017","repostType":4,"isVote":1,"tweetType":1,"viewCount":2723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":890583871,"gmtCreate":1628123601593,"gmtModify":1631884928898,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/890583871","repostId":"2157488723","repostType":4,"isVote":1,"tweetType":1,"viewCount":3418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":807647252,"gmtCreate":1628036722176,"gmtModify":1631884928912,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/807647252","repostId":"1185981121","repostType":4,"isVote":1,"tweetType":1,"viewCount":1604,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":804156564,"gmtCreate":1627947236258,"gmtModify":1631884928930,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/804156564","repostId":"1166947562","repostType":4,"repost":{"id":"1166947562","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1627907229,"share":"https://www.laohu8.com/m/news/1166947562?lang=zh_CN&edition=full","pubTime":"2021-08-02 20:27","market":"us","language":"en","title":"Is Now The Time To Buy Stock In Uber, Lyft, DoorDash Or Match Group?<blockquote>现在是购买Uber、Lyft、DoorDash或Match Group股票的时候吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166947562","media":"Benzinga","summary":"One of the most common questions traders have about stocks is “Why Is It Moving?”\nThat’s why Benzing","content":"<p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p><p><blockquote>交易者对股票最常见的问题之一是“它为什么会变动？”</blockquote></p><p> That’s why Benzinga created the Why Is It Moving, or WIIM, feature in&nbsp;Benzinga Pro. WIIMs are a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-sentence description as to why a stock is moving.</p><p><blockquote>这就是Benzinga在Benzinga Pro中创建“为什么它在移动”(WIIM)功能的原因。WIIMs是一个<a href=\"https://laohu8.com/S/AONE.U\">一</a>-句子描述股票为什么会变动。</blockquote></p><p> Analysts and brokerage firms often use ratings when they issue stock recommendations to stock traders.</p><p><blockquote>分析师和经纪公司在向股票交易者发布股票推荐时经常使用评级。</blockquote></p><p> Analysts arrive at stock ratings by researching public financial statements, communicating with executives and customers&nbsp;and following industry trends.</p><p><blockquote>分析师通过研究公开财务报表、与高管和客户沟通以及跟踪行业趋势来得出股票评级。</blockquote></p><p> Gordon Haskett analyst Robert Mollins initiated&nbsp;coverage on<b><a href=\"https://laohu8.com/S/UBER\">Uber</a> Technologies Inc</b>(NYSE:UBER)&nbsp;with a Buy rating and announced&nbsp;a price target of&nbsp;$65.</p><p><blockquote>Gordon Haskett分析师Robert Mollins首次报道<b><a href=\"https://laohu8.com/S/UBER\">优步</a>技术公司</b>（纽约证券交易所股票代码：UBER）给予买入评级，并宣布目标价为65美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/UBER\">Uber</a> is trading higher by 1.2% at $44.</p><p><blockquote><a href=\"https://laohu8.com/S/UBER\">优步</a>交易价格上涨1.2%，至44美元。</blockquote></p><p> Gordon Haskett analyst Robert Mollins initiated&nbsp;coverage on<b>LYFT Inc</b>(NASDAQ:LYFT)&nbsp;with a Hold rating and announced&nbsp;a price target of&nbsp;$59.</p><p><blockquote>Gordon Haskett分析师Robert Mollins首次报道<b>LYFT公司</b>（纳斯达克：LYFT）给予持有评级，并宣布目标价59美元。</blockquote></p><p> Credit Suisse analyst Stephen Ju maintained&nbsp;Lyft with an Outperform and raised&nbsp;the price target from&nbsp;$76&nbsp;to&nbsp;$79.</p><p><blockquote>瑞信分析师Stephen Ju维持Lyft跑赢大盘评级，并将目标价从76美元上调至79美元。</blockquote></p><p> Lyft is trading higher by 1.6% at $56.21.</p><p><blockquote>Lyft股价上涨1.6%，至56.21美元。</blockquote></p><p> Gordon Haskett analyst Robert Mollins initiated&nbsp;coverage on<b>DoorDash Inc</b>(NYSE:DASH)&nbsp;with a Buy rating and announced&nbsp;a price target of&nbsp;$206.</p><p><blockquote>Gordon Haskett分析师Robert Mollins首次报道<b>门达什公司</b>(NYSE：DASH)给予买入评级，并宣布目标价为206美元。</blockquote></p><p> DoorDash is trading higher by 0.4% at $175.</p><p><blockquote>DoorDash的交易价格上涨0.4%，至175美元。</blockquote></p><p> Keybanc analyst Justin <a href=\"https://laohu8.com/S/PDCO\">Patterson</a> maintained&nbsp;<b><a href=\"https://laohu8.com/S/MTCH\">Match</a> Group Inc</b>(NASDAQ:MTCH)&nbsp;with an Overweight and raised&nbsp;the price target from&nbsp;$172&nbsp;to&nbsp;$176.</p><p><blockquote>Keybanc分析师贾斯汀<a href=\"https://laohu8.com/S/PDCO\">帕特森</a>维持<b><a href=\"https://laohu8.com/S/MTCH\">比赛</a>集团公司</b>（纳斯达克：MTCH）给予跑赢大盘，并将目标价从172美元上调至176美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/MTCH\">Match</a> Group is trading higher by 0.5% at $160.12.</p><p><blockquote><a href=\"https://laohu8.com/S/MTCH\">比赛</a>Group股价上涨0.5%，至160.12美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Now The Time To Buy Stock In Uber, Lyft, DoorDash Or Match Group?<blockquote>现在是购买Uber、Lyft、DoorDash或Match Group股票的时候吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Now The Time To Buy Stock In Uber, Lyft, DoorDash Or Match Group?<blockquote>现在是购买Uber、Lyft、DoorDash或Match Group股票的时候吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-08-02 20:27</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>One of the most common questions traders have about stocks is “Why Is It Moving?”</p><p><blockquote>交易者对股票最常见的问题之一是“它为什么会变动？”</blockquote></p><p> That’s why Benzinga created the Why Is It Moving, or WIIM, feature in&nbsp;Benzinga Pro. WIIMs are a <a href=\"https://laohu8.com/S/AONE.U\">one</a>-sentence description as to why a stock is moving.</p><p><blockquote>这就是Benzinga在Benzinga Pro中创建“为什么它在移动”(WIIM)功能的原因。WIIMs是一个<a href=\"https://laohu8.com/S/AONE.U\">一</a>-句子描述股票为什么会变动。</blockquote></p><p> Analysts and brokerage firms often use ratings when they issue stock recommendations to stock traders.</p><p><blockquote>分析师和经纪公司在向股票交易者发布股票推荐时经常使用评级。</blockquote></p><p> Analysts arrive at stock ratings by researching public financial statements, communicating with executives and customers&nbsp;and following industry trends.</p><p><blockquote>分析师通过研究公开财务报表、与高管和客户沟通以及跟踪行业趋势来得出股票评级。</blockquote></p><p> Gordon Haskett analyst Robert Mollins initiated&nbsp;coverage on<b><a href=\"https://laohu8.com/S/UBER\">Uber</a> Technologies Inc</b>(NYSE:UBER)&nbsp;with a Buy rating and announced&nbsp;a price target of&nbsp;$65.</p><p><blockquote>Gordon Haskett分析师Robert Mollins首次报道<b><a href=\"https://laohu8.com/S/UBER\">优步</a>技术公司</b>（纽约证券交易所股票代码：UBER）给予买入评级，并宣布目标价为65美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/UBER\">Uber</a> is trading higher by 1.2% at $44.</p><p><blockquote><a href=\"https://laohu8.com/S/UBER\">优步</a>交易价格上涨1.2%，至44美元。</blockquote></p><p> Gordon Haskett analyst Robert Mollins initiated&nbsp;coverage on<b>LYFT Inc</b>(NASDAQ:LYFT)&nbsp;with a Hold rating and announced&nbsp;a price target of&nbsp;$59.</p><p><blockquote>Gordon Haskett分析师Robert Mollins首次报道<b>LYFT公司</b>（纳斯达克：LYFT）给予持有评级，并宣布目标价59美元。</blockquote></p><p> Credit Suisse analyst Stephen Ju maintained&nbsp;Lyft with an Outperform and raised&nbsp;the price target from&nbsp;$76&nbsp;to&nbsp;$79.</p><p><blockquote>瑞信分析师Stephen Ju维持Lyft跑赢大盘评级，并将目标价从76美元上调至79美元。</blockquote></p><p> Lyft is trading higher by 1.6% at $56.21.</p><p><blockquote>Lyft股价上涨1.6%，至56.21美元。</blockquote></p><p> Gordon Haskett analyst Robert Mollins initiated&nbsp;coverage on<b>DoorDash Inc</b>(NYSE:DASH)&nbsp;with a Buy rating and announced&nbsp;a price target of&nbsp;$206.</p><p><blockquote>Gordon Haskett分析师Robert Mollins首次报道<b>门达什公司</b>(NYSE：DASH)给予买入评级，并宣布目标价为206美元。</blockquote></p><p> DoorDash is trading higher by 0.4% at $175.</p><p><blockquote>DoorDash的交易价格上涨0.4%，至175美元。</blockquote></p><p> Keybanc analyst Justin <a href=\"https://laohu8.com/S/PDCO\">Patterson</a> maintained&nbsp;<b><a href=\"https://laohu8.com/S/MTCH\">Match</a> Group Inc</b>(NASDAQ:MTCH)&nbsp;with an Overweight and raised&nbsp;the price target from&nbsp;$172&nbsp;to&nbsp;$176.</p><p><blockquote>Keybanc分析师贾斯汀<a href=\"https://laohu8.com/S/PDCO\">帕特森</a>维持<b><a href=\"https://laohu8.com/S/MTCH\">比赛</a>集团公司</b>（纳斯达克：MTCH）给予跑赢大盘，并将目标价从172美元上调至176美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/MTCH\">Match</a> Group is trading higher by 0.5% at $160.12.</p><p><blockquote><a href=\"https://laohu8.com/S/MTCH\">比赛</a>Group股价上涨0.5%，至160.12美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TIME":"Clockwise Core Equity & Innovation ETF","MTCH":"Match Group, Inc.","DASH":"DoorDash, Inc.","LYFT":"Lyft, Inc.","UBER":"优步"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166947562","content_text":"One of the most common questions traders have about stocks is “Why Is It Moving?”\nThat’s why Benzinga created the Why Is It Moving, or WIIM, feature in Benzinga Pro. WIIMs are a one-sentence description as to why a stock is moving.\nAnalysts and brokerage firms often use ratings when they issue stock recommendations to stock traders.\nAnalysts arrive at stock ratings by researching public financial statements, communicating with executives and customers and following industry trends.\nGordon Haskett analyst Robert Mollins initiated coverage onUber Technologies Inc(NYSE:UBER) with a Buy rating and announced a price target of $65.\nUber is trading higher by 1.2% at $44.\nGordon Haskett analyst Robert Mollins initiated coverage onLYFT Inc(NASDAQ:LYFT) with a Hold rating and announced a price target of $59.\nCredit Suisse analyst Stephen Ju maintained Lyft with an Outperform and raised the price target from $76 to $79.\nLyft is trading higher by 1.6% at $56.21.\nGordon Haskett analyst Robert Mollins initiated coverage onDoorDash Inc(NYSE:DASH) with a Buy rating and announced a price target of $206.\nDoorDash is trading higher by 0.4% at $175.\nKeybanc analyst Justin Patterson maintained Match Group Inc(NASDAQ:MTCH) with an Overweight and raised the price target from $172 to $176.\nMatch Group is trading higher by 0.5% at 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xt":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/801287502","repostId":"2155649978","repostType":4,"isVote":1,"tweetType":1,"viewCount":672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":803895531,"gmtCreate":1627430833823,"gmtModify":1631890358539,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/803895531","repostId":"1165178450","repostType":4,"repost":{"id":"1165178450","kind":"news","pubTimestamp":1627399581,"share":"https://www.laohu8.com/m/news/1165178450?lang=zh_CN&edition=full","pubTime":"2021-07-27 23:26","market":"us","language":"en","title":"How Plug Power Could Generate 7x Returns Over The Next Decade<blockquote>普拉格能源如何在未来十年创造7倍的回报</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165178450","media":"seekingalpha","summary":"Summary\n\nPLUG is a leading hydrogen fuel cell turnkey provider in North American and European market","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PLUG is a leading hydrogen fuel cell turnkey provider in North American and European markets.</li>  <li>The company boasts advanced technology and strong growth momentum.</li>  <li>We outline the company's path to growing from a $15 billion market cap to a $100 billion market cap over the next decade.</li>  <li>That said, PLUG still faces significant risks to its thesis that investors should keep in mind.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06bea0bef6d6ac8eab14c3fceb2cccae\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>JONGHO SHIN/iStock via Getty Images</span></p><p><blockquote><ul><li>PLUG是北美和欧洲市场领先的氢燃料电池交钥匙供应商。</li><li>公司拥有先进的技术和强劲的增长势头。</li><li>我们概述了该公司在未来十年从150亿美元市值增长到1000亿美元市值的道路。</li><li>尽管如此，PLUG的论点仍然面临着投资者应该牢记的重大风险。</li></ul><p class=\"t-img-caption\"><span>JONGHO SHIN/iStock来自Getty Images</span></p></blockquote></p><p> Plug Power (PLUG) is a leading hydrogen fuel cell turnkey provider in North American and European markets. The company boasts advanced technology and strong growth momentum which should propel it to significant appreciation over the long term. In this article we outline the company's path to growing from a $15 billion market cap to a $100 billion market cap (nearly 7x returns) over the next decade.</p><p><blockquote>普拉格能源(PLUG)是北美和欧洲市场领先的氢燃料电池交钥匙供应商。该公司拥有先进的技术和强劲的增长势头，这将推动其长期大幅升值。在本文中，我们概述了该公司在未来十年从150亿美元市值增长到1000亿美元市值（近7倍回报率）的道路。</blockquote></p><p> <b>#1. Addressable Market Potential</b></p><p><blockquote><b>#1.潜在市场潜力</b></blockquote></p><p> With the&nbsp;massive tailwinds&nbsp;for green energy and ESG investing at the moment, the hydrogen fuel cell market is likely to enjoy strong growth momentum for many years to come.</p><p><blockquote>随着目前绿色能源和ESG投资的巨大推动力，氢燃料电池市场可能在未来许多年享有强劲的增长势头。</blockquote></p><p> First and foremost, the Biden administration has executed an aggressive about-face from the previous administration in its disposition towards clean energy and fossil fuels. Between executive orders and rejoining the Paris Climate Accords, the U.S. Government is increasingly incentivizing green energy investment and consumption. The European Union and China are also increasingly headed in this direction.</p><p><blockquote>首先，拜登政府在对清洁能源和化石燃料的态度上与上届政府进行了激进的大转变。在行政命令和重新加入巴黎气候协定之间，美国。政府越来越多地激励绿色能源投资和消费。欧盟和中国也越来越多地朝着这个方向前进。</blockquote></p><p> Second, the ESG investing movement has taken off to where it now accounts for an astonishing&nbsp;one-third of total assets under management&nbsp;in the United States. Given that so much capital is attracted to environmentally friendly investments, companies across the board - including in the hydrocarbon sector - are increasingly adopting policies that appeal to the environmentally-conscious investor.</p><p><blockquote>其次，ESG投资运动已经起飞，目前占美国管理总资产的三分之一，令人震惊。鉴于如此多的资本被吸引到环保投资中，包括碳氢化合物行业在内的所有公司都越来越多地采取吸引具有环保意识的投资者的政策。</blockquote></p><p> Third, the disruption and transformation of the automotive industry to reduce emissions is driving strong demand for new fuel technologies.</p><p><blockquote>第三，汽车行业为减少排放而进行的颠覆和转型正在推动对新燃料技术的强劲需求。</blockquote></p><p> Finally - largely due to the heavy investment and market demand - green technologies such as hydrogen fuel cells are&nbsp;seeing costs decline dramatically, making them increasingly competitive on the marketplace.</p><p><blockquote>最后，主要由于大量投资和市场需求，氢燃料电池等绿色技术的成本大幅下降，使其在市场上的竞争力越来越强。</blockquote></p><p> All of this should lead to continued strong growth in the sector. In fact, U.S. Hydrogen demand is&nbsp;expected&nbsp;to be 17 million metric tons per year by 2030 and 63 million metric tons by 2050, which is pretty substantial growth from the 10 million metric tons consumed in the U.S. last year. Globally, the hydrogen generation industry is&nbsp;expected&nbsp;to reach $201 billion by 2025 and should continue to grow rapidly in the decades to follow similar to how it is expected to grow in the U.S.</p><p><blockquote>所有这些都应该会导致该行业持续强劲增长。事实上，到2030年，美国的氢气需求预计将达到每年1700万吨，到2050年将达到6300万吨，这比美国去年的1000万吨消费量有了相当大的增长。在全球范围内，制氢行业预计到2025年将达到2010亿美元，并在接下来的几十年里继续快速增长，类似于美国的预期增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0541b1fd23777a900f3e1a1102206d7b\" tg-width=\"824\" tg-height=\"514\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>#2. Market Share Drivers</b></p><p><blockquote><b>#2.市场份额驱动因素</b></blockquote></p><p> We believe that PLUG has a strong chance at capturing a sizable portion of this massive addressable market for the following reasons.</p><p><blockquote>我们相信，由于以下原因，PLUG很有可能占领这个庞大的潜在市场的相当大一部分。</blockquote></p><p> First and foremost, it has advanced technology and early mover advantages in the space. It owns numerous hydrogen energy systems including proton exchange membrane fuel cells, hybrid batteries, hydrogen storage, hydrogen dispensing, and fuel processing. Its flagship product is the electric vehicle focused GenDrive system that is complemented by their GenFuel and GenCare systems.</p><p><blockquote>首先，它在该领域拥有先进的技术和先发优势。拥有质子交换膜燃料电池、混合动力电池、储氢、配氢、燃料加工等众多氢能系统。其旗舰产品是专注于电动汽车的GenDrive系统，并辅以GenFuel和GenCare系统。</blockquote></p><p> Second of all, it has a foothold in both North America and Europe which means that it has significantly more growth potential than if it was solely focused on a single continent. In fact, North America and Europe are likely to be the leaders in Hydrogen adaptation for the foreseeable future, so PLUG is well-positioned to capture a significant portion of the global market share.</p><p><blockquote>其次，它在北美和欧洲都有立足点，这意味着它比只专注于一个大陆具有更大的增长潜力。事实上，在可预见的未来，北美和欧洲很可能成为氢适应的领导者，因此PLUG处于有利地位，可以占领全球市场份额的很大一部分。</blockquote></p><p> Third, PLUG has strong growth momentum right now and is winning business from some of the biggest companies in the world, including Amazon (AMZN), Walmart (WMT), Home Depot (HD), and General Motors (GM) either currently using their products or expected to become customers in the near future. As a result, we expect the 76% year-over-year revenue growth in its most recent&nbsp;quarterly report&nbsp;(128% year-over-year growth in their fuel cell systems and related infrastructure segment) to be sustainable for the foreseeable future.</p><p><blockquote>第三，PLUG目前增长势头强劲，正在赢得世界上一些最大公司的业务，包括亚马逊(AMZN)、沃尔玛(WMT)、家得宝(HD)和通用汽车(GM)，这些公司目前正在使用他们的产品或预计在不久的将来成为客户。因此，我们预计其最新季度报告中76%的收入同比增长（燃料电池系统和相关基础设施部门同比增长128%）在可预见的未来将是可持续的。</blockquote></p><p> In fact,analysts expect&nbsp;revenue to grow by 57% in 2022, which should push the company to EBITDA profitability.</p><p><blockquote>事实上，分析师预计2022年收入将增长57%，这应该会推动该公司实现EBITDA盈利。</blockquote></p><p> <b>#3. Valuation</b></p><p><blockquote><b>#3.估值</b></blockquote></p><p> While PLUG certainly operates in a hot industry and has numerous drivers that should enable it to capture significant market share, the company is also not cheap as it is currently running a loss.</p><p><blockquote>虽然PLUG确实在一个热门行业运营，并且拥有众多驱动因素，应该使其能够占领重要的市场份额，但该公司的价格也不便宜，因为它目前正在亏损。</blockquote></p><p></p><p> On the other hand, its EV/revenue figure is not outlandish given their growth runway as PLUG currently trades at 29.8x expected 2021 sales and 21x expected 2022 sales.</p><p><blockquote>另一方面，考虑到其增长跑道，其EV/收入数据并不奇怪，因为PLUG目前的交易价格是2021年预期销售额的29.8倍，2022年预期销售额的21倍。</blockquote></p><p> In fact, with a product gross margin of 38% that expanded by a whopping 600 basis points in PLUG's most recent earnings release, its profitability potential is significant. Overall, PLUG's gross margin is expected to be a fairly weak 9.71% in 2021, but is expected to nearly double in 2022 to 18.93%. This is also a massive increase from 2017 when the gross margin was a mere 1.2%. The EBITDA margin is also expected to be a somewhat respectable 10.7% in 2022 as well.</p><p><blockquote>事实上，PLUG最近发布的财报中，产品毛利率为38%，增长了600个基点，其盈利潜力巨大。总体而言，预计2021年PLUG的毛利率为相当疲软的9.71%，但预计2022年将增长近一倍，达到18.93%。这也比2017年的毛利率仅为1.2%大幅增长。预计2022年的EBITDA利润率也将达到相当可观的10.7%。</blockquote></p><p> If PLUG can continue to leverage its strong technology and massive expected economies of scale in the coming years, we think it is reasonable for it to push gross margins to 30% and net margins to 20% by 2032. Meanwhile, if it can capture even just 3% of global hydrogen market share by 2032 and the global market reaches roughly $390 billion by then (it is expected to exceed $200 billion by 2025 and will likely be growing by around 10% per year at least for the foreseeable future), PLUG should be generating $11.7 billion in revenues by 2032. That would assume a 31.9% revenue CAGR between 2022 and 2032, which we also believe is quite reasonable given its aforementioned growth momentum and competitive strengths.</p><p><blockquote>如果PLUG能够在未来几年继续利用其强大的技术和巨大的预期规模经济，我们认为到2032年将毛利率提高到30%，净利润率提高到20%是合理的。与此同时，如果到2032年它甚至只能占据全球氢市场3%的份额，并且届时全球市场将达到约3900亿美元（预计到2025年将超过2000亿美元，并且可能至少每年增长10%左右）在可预见的未来），到2032年，PLUG的收入将达到117亿美元。假设2022年至2032年间的收入复合年增长率为31.9%，考虑到其上述增长势头和竞争优势，我们也认为这是相当合理的。</blockquote></p><p> At a 20% net margin, that would put its net earnings at over $2.3 billion in 2032, which would require a 42.7x price to earnings multiple to warrant a $100 billion market cap. Is this a reasonable multiple? It depends a lot on interest rates, but, given that the current S&amp;P 500 (SPY) multiple is ~31x and PLUG's growth rate and growth runway will likely still be vastly superior to where the S&amp;P 500's is today, it certainly does not seem too far-fetched to us.</p><p><blockquote>如果净利润率为20%，到2032年其净利润将超过23亿美元，这需要42.7倍的市盈率才能保证1000亿美元的市值。这个倍数合理吗？这在很大程度上取决于利率，但是，考虑到目前标普500（SPDR标普500指数ETF）的市盈率约为31倍，而且PLUG的增长率和增长跑道可能仍远优于标普500目前的水平，这当然不会显得太远。对我们来说太牵强了。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/02cad870534d53e0544cd0389c837b1d\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> <b>#4. Risks</b></p><p><blockquote><b>#4.风险</b></blockquote></p><p> If this model pans out how we think it could, PLUG is a very attractive buy on the latest pullback.</p><p><blockquote>如果这个模型如我们所想的那样成功，那么在最近的回调中，PLUG是一个非常有吸引力的买入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e86493a3f4fcb61e8bec0de36f0f9b7\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Of course, it assumes that PLUG will be able to overcome several risks, so investors should keep in mind that it remains a very speculative investment at this point.</p><p><blockquote>当然，它假设PLUG将能够克服一些风险，因此投资者应该记住，目前它仍然是一项非常投机性的投资。</blockquote></p><p> First and foremost, it will demand that PLUG can maintain highly competitive technology in a space that is almost certain to grow increasingly competitive in the years to come.</p><p><blockquote>首先，它将要求PLUG能够在一个几乎肯定会在未来几年竞争日益激烈的领域保持极具竞争力的技术。</blockquote></p><p> Additionally, PLUG will need to balance investing in recruiting the best talent in the industry to sustain and increase its technological edge with investing in effective marketing while also avoiding diluting shareholders or running up a big debt burden. Given that it is not yet free cash flow positive, this could prove challenging in the short term. That said, their nearly $4.8 billion in cash and cash equivalents on hand should enable it to reach free cash flow positivity without stressing its balance sheet.</p><p><blockquote>此外，PLUG需要在招聘业内最优秀人才以维持和增强其技术优势的投资与有效营销的投资之间取得平衡，同时避免稀释股东权益或增加巨额债务负担。鉴于自由现金流尚未为正，这在短期内可能具有挑战性。也就是说，他们手头近48亿美元的现金和现金等价物应该使其能够在不给资产负债表带来压力的情况下实现正自由现金流。</blockquote></p><p> Third, hydrogen power has not been without its critics over the years, most notably Tesla's (TSLA) founder and CEO Elon Musk. The wildly popular and visionary entrepreneur&nbsp;argued&nbsp;that using hydrogen to store energy can never be as efficient as storing electricity in a battery. In fact, he has gone so far as to say that using hydrogen fuel cells (which he calls \"fool cells\") to power vehicles is \"mind-bogglingly stupid.\" Obviously many individuals and corporations disagree with Musk's assessment and he has a clear incentive to try to discredit the technology, but this should still be viewed as a significant risk to keep an eye on. If hydrogen were to fall out of favor, it would significantly reduce the upside for PLUG and could even lead to permanent impairments from current levels if severe enough.</p><p><blockquote>第三，多年来，氢能并非没有批评者，最著名的是特斯拉(TSLA)创始人兼首席执行官Elon Musk。这位广受欢迎且富有远见的企业家认为，使用氢来储存能量永远不会像在电池中储存电力那样有效。事实上，他甚至说，使用氢燃料电池（他评级为“傻瓜电池”）为汽车提供动力是“愚蠢得令人难以置信”。显然，许多个人和公司不同意马斯克的评估，他有明显的动机试图诋毁这项技术，但这仍应被视为需要关注的重大风险。如果氢气失宠，将大大降低PLUG的上涨空间，如果足够严重，甚至可能导致当前水平的永久性损害。</blockquote></p><p> <b>Investor Takeaway</b></p><p><blockquote><b>投资者要点</b></blockquote></p><p> PLUG is a competitively positioned company in a rapidly-growing industry. Not only that, but the industry's growth runway looks promising for many decades to come. With advanced technology, early mover advantages, and a foothold on the two most fertile continents for Hydrogen technology, PLUG should be able to generate strong revenue growth for a long time to come.</p><p><blockquote>PLUG是一家在快速增长的行业中具有竞争力的公司。不仅如此，该行业的增长跑道在未来几十年看起来充满希望。凭借先进的技术、先发优势以及在氢技术最肥沃的两大洲的立足点，PLUG应该能够在未来很长一段时间内实现强劲的收入增长。</blockquote></p><p> Given our assumptions outlined in this article, we think that PLUG could very possibly achieve a $100 billion market cap in about a decade. This would represent a 667% total return (20.9% CAGR) over that span assuming no further share dilution.</p><p><blockquote>鉴于我们在本文中概述的假设，我们认为PLUG很可能在大约十年内达到1000亿美元的市值。假设没有进一步的股份稀释，这将意味着该期间的总回报率为667%（复合年增长率为20.9%）。</blockquote></p><p></p><p> That said, PLUG is also far from a conservative sleep well at night stock and investors should keep in mind that its current valuation assumes significant future growth and an ability to scale into profitability. It also assumes that it will retain a strong technological moat which will enable it to increase gross margins over time.</p><p><blockquote>也就是说，PLUG也远非保守的夜间睡眠良好股票，投资者应该记住，其目前的估值假设未来显着增长并有能力扩大盈利。它还假设它将保留强大的技术护城河，这将使其能够随着时间的推移提高毛利率。</blockquote></p><p> Overall, we rate PLUG a speculative buy at this point.</p><p><blockquote>总体而言，我们目前将PLUG评级为投机性买入。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Plug Power Could Generate 7x Returns Over The Next Decade<blockquote>普拉格能源如何在未来十年创造7倍的回报</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\">\nHow Plug Power Could Generate 7x Returns Over The Next Decade<blockquote>普拉格能源如何在未来十年创造7倍的回报</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-27 23:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>PLUG is a leading hydrogen fuel cell turnkey provider in North American and European markets.</li>  <li>The company boasts advanced technology and strong growth momentum.</li>  <li>We outline the company's path to growing from a $15 billion market cap to a $100 billion market cap over the next decade.</li>  <li>That said, PLUG still faces significant risks to its thesis that investors should keep in mind.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/06bea0bef6d6ac8eab14c3fceb2cccae\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"><span>JONGHO SHIN/iStock via Getty Images</span></p><p><blockquote><ul><li>PLUG是北美和欧洲市场领先的氢燃料电池交钥匙供应商。</li><li>公司拥有先进的技术和强劲的增长势头。</li><li>我们概述了该公司在未来十年从150亿美元市值增长到1000亿美元市值的道路。</li><li>尽管如此，PLUG的论点仍然面临着投资者应该牢记的重大风险。</li></ul><p class=\"t-img-caption\"><span>JONGHO SHIN/iStock来自Getty Images</span></p></blockquote></p><p> Plug Power (PLUG) is a leading hydrogen fuel cell turnkey provider in North American and European markets. The company boasts advanced technology and strong growth momentum which should propel it to significant appreciation over the long term. In this article we outline the company's path to growing from a $15 billion market cap to a $100 billion market cap (nearly 7x returns) over the next decade.</p><p><blockquote>普拉格能源(PLUG)是北美和欧洲市场领先的氢燃料电池交钥匙供应商。该公司拥有先进的技术和强劲的增长势头，这将推动其长期大幅升值。在本文中，我们概述了该公司在未来十年从150亿美元市值增长到1000亿美元市值（近7倍回报率）的道路。</blockquote></p><p> <b>#1. Addressable Market Potential</b></p><p><blockquote><b>#1.潜在市场潜力</b></blockquote></p><p> With the&nbsp;massive tailwinds&nbsp;for green energy and ESG investing at the moment, the hydrogen fuel cell market is likely to enjoy strong growth momentum for many years to come.</p><p><blockquote>随着目前绿色能源和ESG投资的巨大推动力，氢燃料电池市场可能在未来许多年享有强劲的增长势头。</blockquote></p><p> First and foremost, the Biden administration has executed an aggressive about-face from the previous administration in its disposition towards clean energy and fossil fuels. Between executive orders and rejoining the Paris Climate Accords, the U.S. Government is increasingly incentivizing green energy investment and consumption. The European Union and China are also increasingly headed in this direction.</p><p><blockquote>首先，拜登政府在对清洁能源和化石燃料的态度上与上届政府进行了激进的大转变。在行政命令和重新加入巴黎气候协定之间，美国。政府越来越多地激励绿色能源投资和消费。欧盟和中国也越来越多地朝着这个方向前进。</blockquote></p><p> Second, the ESG investing movement has taken off to where it now accounts for an astonishing&nbsp;one-third of total assets under management&nbsp;in the United States. Given that so much capital is attracted to environmentally friendly investments, companies across the board - including in the hydrocarbon sector - are increasingly adopting policies that appeal to the environmentally-conscious investor.</p><p><blockquote>其次，ESG投资运动已经起飞，目前占美国管理总资产的三分之一，令人震惊。鉴于如此多的资本被吸引到环保投资中，包括碳氢化合物行业在内的所有公司都越来越多地采取吸引具有环保意识的投资者的政策。</blockquote></p><p> Third, the disruption and transformation of the automotive industry to reduce emissions is driving strong demand for new fuel technologies.</p><p><blockquote>第三，汽车行业为减少排放而进行的颠覆和转型正在推动对新燃料技术的强劲需求。</blockquote></p><p> Finally - largely due to the heavy investment and market demand - green technologies such as hydrogen fuel cells are&nbsp;seeing costs decline dramatically, making them increasingly competitive on the marketplace.</p><p><blockquote>最后，主要由于大量投资和市场需求，氢燃料电池等绿色技术的成本大幅下降，使其在市场上的竞争力越来越强。</blockquote></p><p> All of this should lead to continued strong growth in the sector. In fact, U.S. Hydrogen demand is&nbsp;expected&nbsp;to be 17 million metric tons per year by 2030 and 63 million metric tons by 2050, which is pretty substantial growth from the 10 million metric tons consumed in the U.S. last year. Globally, the hydrogen generation industry is&nbsp;expected&nbsp;to reach $201 billion by 2025 and should continue to grow rapidly in the decades to follow similar to how it is expected to grow in the U.S.</p><p><blockquote>所有这些都应该会导致该行业持续强劲增长。事实上，到2030年，美国的氢气需求预计将达到每年1700万吨，到2050年将达到6300万吨，这比美国去年的1000万吨消费量有了相当大的增长。在全球范围内，制氢行业预计到2025年将达到2010亿美元，并在接下来的几十年里继续快速增长，类似于美国的预期增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0541b1fd23777a900f3e1a1102206d7b\" tg-width=\"824\" tg-height=\"514\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> <b>#2. Market Share Drivers</b></p><p><blockquote><b>#2.市场份额驱动因素</b></blockquote></p><p> We believe that PLUG has a strong chance at capturing a sizable portion of this massive addressable market for the following reasons.</p><p><blockquote>我们相信，由于以下原因，PLUG很有可能占领这个庞大的潜在市场的相当大一部分。</blockquote></p><p> First and foremost, it has advanced technology and early mover advantages in the space. It owns numerous hydrogen energy systems including proton exchange membrane fuel cells, hybrid batteries, hydrogen storage, hydrogen dispensing, and fuel processing. Its flagship product is the electric vehicle focused GenDrive system that is complemented by their GenFuel and GenCare systems.</p><p><blockquote>首先，它在该领域拥有先进的技术和先发优势。拥有质子交换膜燃料电池、混合动力电池、储氢、配氢、燃料加工等众多氢能系统。其旗舰产品是专注于电动汽车的GenDrive系统，并辅以GenFuel和GenCare系统。</blockquote></p><p> Second of all, it has a foothold in both North America and Europe which means that it has significantly more growth potential than if it was solely focused on a single continent. In fact, North America and Europe are likely to be the leaders in Hydrogen adaptation for the foreseeable future, so PLUG is well-positioned to capture a significant portion of the global market share.</p><p><blockquote>其次，它在北美和欧洲都有立足点，这意味着它比只专注于一个大陆具有更大的增长潜力。事实上，在可预见的未来，北美和欧洲很可能成为氢适应的领导者，因此PLUG处于有利地位，可以占领全球市场份额的很大一部分。</blockquote></p><p> Third, PLUG has strong growth momentum right now and is winning business from some of the biggest companies in the world, including Amazon (AMZN), Walmart (WMT), Home Depot (HD), and General Motors (GM) either currently using their products or expected to become customers in the near future. As a result, we expect the 76% year-over-year revenue growth in its most recent&nbsp;quarterly report&nbsp;(128% year-over-year growth in their fuel cell systems and related infrastructure segment) to be sustainable for the foreseeable future.</p><p><blockquote>第三，PLUG目前增长势头强劲，正在赢得世界上一些最大公司的业务，包括亚马逊(AMZN)、沃尔玛(WMT)、家得宝(HD)和通用汽车(GM)，这些公司目前正在使用他们的产品或预计在不久的将来成为客户。因此，我们预计其最新季度报告中76%的收入同比增长（燃料电池系统和相关基础设施部门同比增长128%）在可预见的未来将是可持续的。</blockquote></p><p> In fact,analysts expect&nbsp;revenue to grow by 57% in 2022, which should push the company to EBITDA profitability.</p><p><blockquote>事实上，分析师预计2022年收入将增长57%，这应该会推动该公司实现EBITDA盈利。</blockquote></p><p> <b>#3. Valuation</b></p><p><blockquote><b>#3.估值</b></blockquote></p><p> While PLUG certainly operates in a hot industry and has numerous drivers that should enable it to capture significant market share, the company is also not cheap as it is currently running a loss.</p><p><blockquote>虽然PLUG确实在一个热门行业运营，并且拥有众多驱动因素，应该使其能够占领重要的市场份额，但该公司的价格也不便宜，因为它目前正在亏损。</blockquote></p><p></p><p> On the other hand, its EV/revenue figure is not outlandish given their growth runway as PLUG currently trades at 29.8x expected 2021 sales and 21x expected 2022 sales.</p><p><blockquote>另一方面，考虑到其增长跑道，其EV/收入数据并不奇怪，因为PLUG目前的交易价格是2021年预期销售额的29.8倍，2022年预期销售额的21倍。</blockquote></p><p> In fact, with a product gross margin of 38% that expanded by a whopping 600 basis points in PLUG's most recent earnings release, its profitability potential is significant. Overall, PLUG's gross margin is expected to be a fairly weak 9.71% in 2021, but is expected to nearly double in 2022 to 18.93%. This is also a massive increase from 2017 when the gross margin was a mere 1.2%. The EBITDA margin is also expected to be a somewhat respectable 10.7% in 2022 as well.</p><p><blockquote>事实上，PLUG最近发布的财报中，产品毛利率为38%，增长了600个基点，其盈利潜力巨大。总体而言，预计2021年PLUG的毛利率为相当疲软的9.71%，但预计2022年将增长近一倍，达到18.93%。这也比2017年的毛利率仅为1.2%大幅增长。预计2022年的EBITDA利润率也将达到相当可观的10.7%。</blockquote></p><p> If PLUG can continue to leverage its strong technology and massive expected economies of scale in the coming years, we think it is reasonable for it to push gross margins to 30% and net margins to 20% by 2032. Meanwhile, if it can capture even just 3% of global hydrogen market share by 2032 and the global market reaches roughly $390 billion by then (it is expected to exceed $200 billion by 2025 and will likely be growing by around 10% per year at least for the foreseeable future), PLUG should be generating $11.7 billion in revenues by 2032. That would assume a 31.9% revenue CAGR between 2022 and 2032, which we also believe is quite reasonable given its aforementioned growth momentum and competitive strengths.</p><p><blockquote>如果PLUG能够在未来几年继续利用其强大的技术和巨大的预期规模经济，我们认为到2032年将毛利率提高到30%，净利润率提高到20%是合理的。与此同时，如果到2032年它甚至只能占据全球氢市场3%的份额，并且届时全球市场将达到约3900亿美元（预计到2025年将超过2000亿美元，并且可能至少每年增长10%左右）在可预见的未来），到2032年，PLUG的收入将达到117亿美元。假设2022年至2032年间的收入复合年增长率为31.9%，考虑到其上述增长势头和竞争优势，我们也认为这是相当合理的。</blockquote></p><p> At a 20% net margin, that would put its net earnings at over $2.3 billion in 2032, which would require a 42.7x price to earnings multiple to warrant a $100 billion market cap. Is this a reasonable multiple? It depends a lot on interest rates, but, given that the current S&amp;P 500 (SPY) multiple is ~31x and PLUG's growth rate and growth runway will likely still be vastly superior to where the S&amp;P 500's is today, it certainly does not seem too far-fetched to us.</p><p><blockquote>如果净利润率为20%，到2032年其净利润将超过23亿美元，这需要42.7倍的市盈率才能保证1000亿美元的市值。这个倍数合理吗？这在很大程度上取决于利率，但是，考虑到目前标普500（SPDR标普500指数ETF）的市盈率约为31倍，而且PLUG的增长率和增长跑道可能仍远优于标普500目前的水平，这当然不会显得太远。对我们来说太牵强了。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/02cad870534d53e0544cd0389c837b1d\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> <b>#4. Risks</b></p><p><blockquote><b>#4.风险</b></blockquote></p><p> If this model pans out how we think it could, PLUG is a very attractive buy on the latest pullback.</p><p><blockquote>如果这个模型如我们所想的那样成功，那么在最近的回调中，PLUG是一个非常有吸引力的买入。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e86493a3f4fcb61e8bec0de36f0f9b7\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Of course, it assumes that PLUG will be able to overcome several risks, so investors should keep in mind that it remains a very speculative investment at this point.</p><p><blockquote>当然，它假设PLUG将能够克服一些风险，因此投资者应该记住，目前它仍然是一项非常投机性的投资。</blockquote></p><p> First and foremost, it will demand that PLUG can maintain highly competitive technology in a space that is almost certain to grow increasingly competitive in the years to come.</p><p><blockquote>首先，它将要求PLUG能够在一个几乎肯定会在未来几年竞争日益激烈的领域保持极具竞争力的技术。</blockquote></p><p> Additionally, PLUG will need to balance investing in recruiting the best talent in the industry to sustain and increase its technological edge with investing in effective marketing while also avoiding diluting shareholders or running up a big debt burden. Given that it is not yet free cash flow positive, this could prove challenging in the short term. That said, their nearly $4.8 billion in cash and cash equivalents on hand should enable it to reach free cash flow positivity without stressing its balance sheet.</p><p><blockquote>此外，PLUG需要在招聘业内最优秀人才以维持和增强其技术优势的投资与有效营销的投资之间取得平衡，同时避免稀释股东权益或增加巨额债务负担。鉴于自由现金流尚未为正，这在短期内可能具有挑战性。也就是说，他们手头近48亿美元的现金和现金等价物应该使其能够在不给资产负债表带来压力的情况下实现正自由现金流。</blockquote></p><p> Third, hydrogen power has not been without its critics over the years, most notably Tesla's (TSLA) founder and CEO Elon Musk. The wildly popular and visionary entrepreneur&nbsp;argued&nbsp;that using hydrogen to store energy can never be as efficient as storing electricity in a battery. In fact, he has gone so far as to say that using hydrogen fuel cells (which he calls \"fool cells\") to power vehicles is \"mind-bogglingly stupid.\" Obviously many individuals and corporations disagree with Musk's assessment and he has a clear incentive to try to discredit the technology, but this should still be viewed as a significant risk to keep an eye on. If hydrogen were to fall out of favor, it would significantly reduce the upside for PLUG and could even lead to permanent impairments from current levels if severe enough.</p><p><blockquote>第三，多年来，氢能并非没有批评者，最著名的是特斯拉(TSLA)创始人兼首席执行官Elon Musk。这位广受欢迎且富有远见的企业家认为，使用氢来储存能量永远不会像在电池中储存电力那样有效。事实上，他甚至说，使用氢燃料电池（他评级为“傻瓜电池”）为汽车提供动力是“愚蠢得令人难以置信”。显然，许多个人和公司不同意马斯克的评估，他有明显的动机试图诋毁这项技术，但这仍应被视为需要关注的重大风险。如果氢气失宠，将大大降低PLUG的上涨空间，如果足够严重，甚至可能导致当前水平的永久性损害。</blockquote></p><p> <b>Investor Takeaway</b></p><p><blockquote><b>投资者要点</b></blockquote></p><p> PLUG is a competitively positioned company in a rapidly-growing industry. Not only that, but the industry's growth runway looks promising for many decades to come. With advanced technology, early mover advantages, and a foothold on the two most fertile continents for Hydrogen technology, PLUG should be able to generate strong revenue growth for a long time to come.</p><p><blockquote>PLUG是一家在快速增长的行业中具有竞争力的公司。不仅如此，该行业的增长跑道在未来几十年看起来充满希望。凭借先进的技术、先发优势以及在氢技术最肥沃的两大洲的立足点，PLUG应该能够在未来很长一段时间内实现强劲的收入增长。</blockquote></p><p> Given our assumptions outlined in this article, we think that PLUG could very possibly achieve a $100 billion market cap in about a decade. This would represent a 667% total return (20.9% CAGR) over that span assuming no further share dilution.</p><p><blockquote>鉴于我们在本文中概述的假设，我们认为PLUG很可能在大约十年内达到1000亿美元的市值。假设没有进一步的股份稀释，这将意味着该期间的总回报率为667%（复合年增长率为20.9%）。</blockquote></p><p></p><p> That said, PLUG is also far from a conservative sleep well at night stock and investors should keep in mind that its current valuation assumes significant future growth and an ability to scale into profitability. It also assumes that it will retain a strong technological moat which will enable it to increase gross margins over time.</p><p><blockquote>也就是说，PLUG也远非保守的夜间睡眠良好股票，投资者应该记住，其目前的估值假设未来显着增长并有能力扩大盈利。它还假设它将保留强大的技术护城河，这将使其能够随着时间的推移提高毛利率。</blockquote></p><p> Overall, we rate PLUG a speculative buy at this point.</p><p><blockquote>总体而言，我们目前将PLUG评级为投机性买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4441600-plug-power-could-generate-7x-returns-over-the-next-decade\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源"},"source_url":"https://seekingalpha.com/article/4441600-plug-power-could-generate-7x-returns-over-the-next-decade","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165178450","content_text":"Summary\n\nPLUG is a leading hydrogen fuel cell turnkey provider in North American and European markets.\nThe company boasts advanced technology and strong growth momentum.\nWe outline the company's path to growing from a $15 billion market cap to a $100 billion market cap over the next decade.\nThat said, PLUG still faces significant risks to its thesis that investors should keep in mind.\n\nJONGHO SHIN/iStock via Getty Images\nPlug Power (PLUG) is a leading hydrogen fuel cell turnkey provider in North American and European markets. The company boasts advanced technology and strong growth momentum which should propel it to significant appreciation over the long term. In this article we outline the company's path to growing from a $15 billion market cap to a $100 billion market cap (nearly 7x returns) over the next decade.\n#1. Addressable Market Potential\nWith the massive tailwinds for green energy and ESG investing at the moment, the hydrogen fuel cell market is likely to enjoy strong growth momentum for many years to come.\nFirst and foremost, the Biden administration has executed an aggressive about-face from the previous administration in its disposition towards clean energy and fossil fuels. Between executive orders and rejoining the Paris Climate Accords, the U.S. Government is increasingly incentivizing green energy investment and consumption. The European Union and China are also increasingly headed in this direction.\nSecond, the ESG investing movement has taken off to where it now accounts for an astonishing one-third of total assets under management in the United States. Given that so much capital is attracted to environmentally friendly investments, companies across the board - including in the hydrocarbon sector - are increasingly adopting policies that appeal to the environmentally-conscious investor.\nThird, the disruption and transformation of the automotive industry to reduce emissions is driving strong demand for new fuel technologies.\nFinally - largely due to the heavy investment and market demand - green technologies such as hydrogen fuel cells are seeing costs decline dramatically, making them increasingly competitive on the marketplace.\nAll of this should lead to continued strong growth in the sector. In fact, U.S. Hydrogen demand is expected to be 17 million metric tons per year by 2030 and 63 million metric tons by 2050, which is pretty substantial growth from the 10 million metric tons consumed in the U.S. last year. Globally, the hydrogen generation industry is expected to reach $201 billion by 2025 and should continue to grow rapidly in the decades to follow similar to how it is expected to grow in the U.S.\n\n#2. Market Share Drivers\nWe believe that PLUG has a strong chance at capturing a sizable portion of this massive addressable market for the following reasons.\nFirst and foremost, it has advanced technology and early mover advantages in the space. It owns numerous hydrogen energy systems including proton exchange membrane fuel cells, hybrid batteries, hydrogen storage, hydrogen dispensing, and fuel processing. Its flagship product is the electric vehicle focused GenDrive system that is complemented by their GenFuel and GenCare systems.\nSecond of all, it has a foothold in both North America and Europe which means that it has significantly more growth potential than if it was solely focused on a single continent. In fact, North America and Europe are likely to be the leaders in Hydrogen adaptation for the foreseeable future, so PLUG is well-positioned to capture a significant portion of the global market share.\nThird, PLUG has strong growth momentum right now and is winning business from some of the biggest companies in the world, including Amazon (AMZN), Walmart (WMT), Home Depot (HD), and General Motors (GM) either currently using their products or expected to become customers in the near future. As a result, we expect the 76% year-over-year revenue growth in its most recent quarterly report (128% year-over-year growth in their fuel cell systems and related infrastructure segment) to be sustainable for the foreseeable future.\nIn fact,analysts expect revenue to grow by 57% in 2022, which should push the company to EBITDA profitability.\n#3. Valuation\nWhile PLUG certainly operates in a hot industry and has numerous drivers that should enable it to capture significant market share, the company is also not cheap as it is currently running a loss.\nOn the other hand, its EV/revenue figure is not outlandish given their growth runway as PLUG currently trades at 29.8x expected 2021 sales and 21x expected 2022 sales.\nIn fact, with a product gross margin of 38% that expanded by a whopping 600 basis points in PLUG's most recent earnings release, its profitability potential is significant. Overall, PLUG's gross margin is expected to be a fairly weak 9.71% in 2021, but is expected to nearly double in 2022 to 18.93%. This is also a massive increase from 2017 when the gross margin was a mere 1.2%. The EBITDA margin is also expected to be a somewhat respectable 10.7% in 2022 as well.\nIf PLUG can continue to leverage its strong technology and massive expected economies of scale in the coming years, we think it is reasonable for it to push gross margins to 30% and net margins to 20% by 2032. Meanwhile, if it can capture even just 3% of global hydrogen market share by 2032 and the global market reaches roughly $390 billion by then (it is expected to exceed $200 billion by 2025 and will likely be growing by around 10% per year at least for the foreseeable future), PLUG should be generating $11.7 billion in revenues by 2032. That would assume a 31.9% revenue CAGR between 2022 and 2032, which we also believe is quite reasonable given its aforementioned growth momentum and competitive strengths.\nAt a 20% net margin, that would put its net earnings at over $2.3 billion in 2032, which would require a 42.7x price to earnings multiple to warrant a $100 billion market cap. Is this a reasonable multiple? It depends a lot on interest rates, but, given that the current S&P 500 (SPY) multiple is ~31x and PLUG's growth rate and growth runway will likely still be vastly superior to where the S&P 500's is today, it certainly does not seem too far-fetched to us.\nData by YCharts\n#4. Risks\nIf this model pans out how we think it could, PLUG is a very attractive buy on the latest pullback.\nData by YCharts\nOf course, it assumes that PLUG will be able to overcome several risks, so investors should keep in mind that it remains a very speculative investment at this point.\nFirst and foremost, it will demand that PLUG can maintain highly competitive technology in a space that is almost certain to grow increasingly competitive in the years to come.\nAdditionally, PLUG will need to balance investing in recruiting the best talent in the industry to sustain and increase its technological edge with investing in effective marketing while also avoiding diluting shareholders or running up a big debt burden. Given that it is not yet free cash flow positive, this could prove challenging in the short term. That said, their nearly $4.8 billion in cash and cash equivalents on hand should enable it to reach free cash flow positivity without stressing its balance sheet.\nThird, hydrogen power has not been without its critics over the years, most notably Tesla's (TSLA) founder and CEO Elon Musk. The wildly popular and visionary entrepreneur argued that using hydrogen to store energy can never be as efficient as storing electricity in a battery. In fact, he has gone so far as to say that using hydrogen fuel cells (which he calls \"fool cells\") to power vehicles is \"mind-bogglingly stupid.\" Obviously many individuals and corporations disagree with Musk's assessment and he has a clear incentive to try to discredit the technology, but this should still be viewed as a significant risk to keep an eye on. If hydrogen were to fall out of favor, it would significantly reduce the upside for PLUG and could even lead to permanent impairments from current levels if severe enough.\nInvestor Takeaway\nPLUG is a competitively positioned company in a rapidly-growing industry. Not only that, but the industry's growth runway looks promising for many decades to come. With advanced technology, early mover advantages, and a foothold on the two most fertile continents for Hydrogen technology, PLUG should be able to generate strong revenue growth for a long time to come.\nGiven our assumptions outlined in this article, we think that PLUG could very possibly achieve a $100 billion market cap in about a decade. This would represent a 667% total return (20.9% CAGR) over that span assuming no further share dilution.\nThat said, PLUG is also far from a conservative sleep well at night stock and investors should keep in mind that its current valuation assumes significant future growth and an ability to scale into profitability. It also assumes that it will retain a strong technological moat which will enable it to increase gross margins over time.\nOverall, we rate PLUG a speculative buy at this point.","news_type":1,"symbols_score_info":{"PLUG":0.9}},"isVote":1,"tweetType":1,"viewCount":501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809084068,"gmtCreate":1627340393454,"gmtModify":1631890358551,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809084068","repostId":"2154957883","repostType":4,"isVote":1,"tweetType":1,"viewCount":550,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800087574,"gmtCreate":1627266259698,"gmtModify":1631890358578,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3555914646523682","idStr":"3555914646523682"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/800087574","repostId":"1186735674","repostType":4,"repost":{"id":"1186735674","kind":"news","pubTimestamp":1627263770,"share":"https://www.laohu8.com/m/news/1186735674?lang=zh_CN&edition=full","pubTime":"2021-07-26 09:42","market":"us","language":"en","title":"General Motors Sues Ford Alleging Trademark Infringement<blockquote>通用汽车起诉福特涉嫌商标侵权</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1186735674","media":"Thestreet","summary":"General Motors (GM) has filed a lawsuit against rival automaker Ford (F) claiming that the name of F","content":"<p>General Motors&nbsp;(<b>GM</b>)&nbsp;has filed a lawsuit against rival automaker Ford&nbsp;(<b>F</b>)&nbsp;claiming that the name of Ford's new automated driving system BlueCruise is an infringement on its Cruise registered trademark.</p><p><blockquote>通用汽车（<b>GM</b>)已对竞争对手汽车制造商福特(<b>F</b>）声称福特全新自动驾驶系统BlueCruise的名称侵犯了其Cruise注册商标。</blockquote></p><p> GM on Fridayfiled its lawsuitin the U.S. District Court for the Northern District of California seeking an injunction enjoining Ford from further use of the name BlueCruise, as well as actual and punitive damages, funds for future advertisements, disgorgement of any wrongfully obtained profits and attorneys fees.</p><p><blockquote>通用汽车周五向美国加州北区地方法院提起诉讼，寻求禁令，禁止福特进一步使用BlueCruise名称，以及实际和惩罚性赔偿、未来广告资金、没收任何不当获得的利润和律师费。</blockquote></p><p> A spokesman for Ford was not immediately available for comment.</p><p><blockquote>未能立即联系到福特发言人置评。</blockquote></p><p> GM, which acquired San Francisco automated vehicle company Cruise in 2016, according to court papers, obtained a federal registered trademark for Cruise in March 2020 and owns several other related trademarks including Super Cruise, Ultra Cruise, Dynacruise and Hypercruise.</p><p><blockquote>根据法庭文件，通用汽车于2016年收购了旧金山自动驾驶汽车公司Cruise，并于2020年3月获得了Cruise的联邦注册商标，并拥有其他几个相关商标，包括Super Cruise、Ultra Cruise、Dynacruise和Hypercruise。</blockquote></p><p> Super Cruise is a GM semi-autonomous driving feature that allows for hands-free driving and has beenavailable on the Cadillac brandsince 2017. It will be expanded to 22 other GM brands this model year and next, court papers said.</p><p><blockquote>Super Cruise是通用汽车的半自动驾驶功能，可实现免提驾驶，自2017年起在凯迪拉克品牌上提供。法庭文件称，今年和明年，它将扩展到其他22个通用汽车品牌。</blockquote></p><p> The Cruise brand is developing automated vehicles based on the Chevrolet Bolt platform and is currently testing vehicles on public roads in San Francisco.</p><p><blockquote>Cruise品牌正在开发基于雪佛兰Bolt平台的自动驾驶汽车，目前正在旧金山的公共道路上测试车辆。</blockquote></p><p> Ford, according to the lawsuit, on April 14 announced that it \"will begin offering its new BlueCruise hands-free highway driving system to customers\" later this year.</p><p><blockquote>诉讼称，福特于4月14日宣布，“将于今年晚些时候开始向客户提供新型BlueCruise免提高速公路驾驶系统”。</blockquote></p><p> GM asserted in the lawsuit that Ford does not have its permission or consent to use the BlueCruise name and said that Ford's use of the name for its automated driving vehicles is \"likely to cause confusion, mistake, or to deceive, as to the affiliation, connection, or association between Ford and both GM and Cruise and/or the origin, sponsorship&nbsp; or approval of the parties' goods and services.\"</p><p><blockquote>通用汽车在诉讼中声称，福特未经其许可或同意使用BlueCruise名称，并表示福特在其自动驾驶车辆中使用该名称“可能会导致混淆、错误或欺骗福特与通用汽车和Cruise之间的从属关系、联系或关联和/或双方商品和服务的来源、赞助或批准。”</blockquote></p><p> In the lawsuit, GM claimed that it took action immediately after Ford's BlueCruise announcement to try to persuade Dearborn, Mich., company to rebrand its automated driving brand, but to no avail.</p><p><blockquote>在诉讼中，通用汽车声称，它在福特宣布BlueCruise后立即采取行动，试图说服密歇根州迪尔伯恩的公司重塑其自动驾驶品牌，但无济于事。</blockquote></p><p> The Detroit automaker said the parties engaged in protracted discussions, but Ford insisted on moving forward with the BlueCruise name despite GM asserting its preexisting rights.</p><p><blockquote>这家底特律汽车制造商表示，双方进行了旷日持久的讨论，但福特坚持继续使用BlueCruise名称，尽管通用汽车主张其先前存在的权利。</blockquote></p><p> The parties agreed to multiple standstill agreements while they negotiated, and GM filed its lawsuit after the most recent agreement expired, according to court papers.</p><p><blockquote>法庭文件显示，双方在谈判期间同意了多项暂停协议，通用汽车在最近的协议到期后提起了诉讼。</blockquote></p><p> GM's shares closed on Friday down 1.2% at $54.94, while Ford's stock was down 0.6% at $13.82.</p><p><blockquote>通用汽车股价周五收盘下跌1.2%，至54.94美元，福特股价下跌0.6%，至13.82美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>General Motors Sues Ford Alleging Trademark Infringement<blockquote>通用汽车起诉福特涉嫌商标侵权</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; 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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\">\nGeneral Motors Sues Ford Alleging Trademark Infringement<blockquote>通用汽车起诉福特涉嫌商标侵权</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-26 09:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>General Motors&nbsp;(<b>GM</b>)&nbsp;has filed a lawsuit against rival automaker Ford&nbsp;(<b>F</b>)&nbsp;claiming that the name of Ford's new automated driving system BlueCruise is an infringement on its Cruise registered trademark.</p><p><blockquote>通用汽车（<b>GM</b>)已对竞争对手汽车制造商福特(<b>F</b>）声称福特全新自动驾驶系统BlueCruise的名称侵犯了其Cruise注册商标。</blockquote></p><p> GM on Fridayfiled its lawsuitin the U.S. District Court for the Northern District of California seeking an injunction enjoining Ford from further use of the name BlueCruise, as well as actual and punitive damages, funds for future advertisements, disgorgement of any wrongfully obtained profits and attorneys fees.</p><p><blockquote>通用汽车周五向美国加州北区地方法院提起诉讼，寻求禁令，禁止福特进一步使用BlueCruise名称，以及实际和惩罚性赔偿、未来广告资金、没收任何不当获得的利润和律师费。</blockquote></p><p> A spokesman for Ford was not immediately available for comment.</p><p><blockquote>未能立即联系到福特发言人置评。</blockquote></p><p> GM, which acquired San Francisco automated vehicle company Cruise in 2016, according to court papers, obtained a federal registered trademark for Cruise in March 2020 and owns several other related trademarks including Super Cruise, Ultra Cruise, Dynacruise and Hypercruise.</p><p><blockquote>根据法庭文件，通用汽车于2016年收购了旧金山自动驾驶汽车公司Cruise，并于2020年3月获得了Cruise的联邦注册商标，并拥有其他几个相关商标，包括Super Cruise、Ultra Cruise、Dynacruise和Hypercruise。</blockquote></p><p> Super Cruise is a GM semi-autonomous driving feature that allows for hands-free driving and has beenavailable on the Cadillac brandsince 2017. It will be expanded to 22 other GM brands this model year and next, court papers said.</p><p><blockquote>Super Cruise是通用汽车的半自动驾驶功能，可实现免提驾驶，自2017年起在凯迪拉克品牌上提供。法庭文件称，今年和明年，它将扩展到其他22个通用汽车品牌。</blockquote></p><p> The Cruise brand is developing automated vehicles based on the Chevrolet Bolt platform and is currently testing vehicles on public roads in San Francisco.</p><p><blockquote>Cruise品牌正在开发基于雪佛兰Bolt平台的自动驾驶汽车，目前正在旧金山的公共道路上测试车辆。</blockquote></p><p> Ford, according to the lawsuit, on April 14 announced that it \"will begin offering its new BlueCruise hands-free highway driving system to customers\" later this year.</p><p><blockquote>诉讼称，福特于4月14日宣布，“将于今年晚些时候开始向客户提供新型BlueCruise免提高速公路驾驶系统”。</blockquote></p><p> GM asserted in the lawsuit that Ford does not have its permission or consent to use the BlueCruise name and said that Ford's use of the name for its automated driving vehicles is \"likely to cause confusion, mistake, or to deceive, as to the affiliation, connection, or association between Ford and both GM and Cruise and/or the origin, sponsorship&nbsp; or approval of the parties' goods and services.\"</p><p><blockquote>通用汽车在诉讼中声称，福特未经其许可或同意使用BlueCruise名称，并表示福特在其自动驾驶车辆中使用该名称“可能会导致混淆、错误或欺骗福特与通用汽车和Cruise之间的从属关系、联系或关联和/或双方商品和服务的来源、赞助或批准。”</blockquote></p><p> In the lawsuit, GM claimed that it took action immediately after Ford's BlueCruise announcement to try to persuade Dearborn, Mich., company to rebrand its automated driving brand, but to no avail.</p><p><blockquote>在诉讼中，通用汽车声称，它在福特宣布BlueCruise后立即采取行动，试图说服密歇根州迪尔伯恩的公司重塑其自动驾驶品牌，但无济于事。</blockquote></p><p> The Detroit automaker said the parties engaged in protracted discussions, but Ford insisted on moving forward with the BlueCruise name despite GM asserting its preexisting rights.</p><p><blockquote>这家底特律汽车制造商表示，双方进行了旷日持久的讨论，但福特坚持继续使用BlueCruise名称，尽管通用汽车主张其先前存在的权利。</blockquote></p><p> The parties agreed to multiple standstill agreements while they negotiated, and GM filed its lawsuit after the most recent agreement expired, according to court papers.</p><p><blockquote>法庭文件显示，双方在谈判期间同意了多项暂停协议，通用汽车在最近的协议到期后提起了诉讼。</blockquote></p><p> GM's shares closed on Friday down 1.2% at $54.94, while Ford's stock was down 0.6% at $13.82.</p><p><blockquote>通用汽车股价周五收盘下跌1.2%，至54.94美元，福特股价下跌0.6%，至13.82美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/general-motors-sues-ford-alleging-trademark-infringement\">Thestreet</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":{"GM":"通用汽车","F":"福特汽车"},"source_url":"https://www.thestreet.com/investing/general-motors-sues-ford-alleging-trademark-infringement","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186735674","content_text":"General Motors (GM) has filed a lawsuit against rival automaker Ford (F) claiming that the name of Ford's new automated driving system BlueCruise is an infringement on its Cruise registered trademark.\nGM on Fridayfiled its lawsuitin the U.S. District Court for the Northern District of California seeking an injunction enjoining Ford from further use of the name BlueCruise, as well as actual and punitive damages, funds for future advertisements, disgorgement of any wrongfully obtained profits and attorneys fees.\nA spokesman for Ford was not immediately available for comment.\nGM, which acquired San Francisco automated vehicle company Cruise in 2016, according to court papers, obtained a federal registered trademark for Cruise in March 2020 and owns several other related trademarks including Super Cruise, Ultra Cruise, Dynacruise and Hypercruise.\nSuper Cruise is a GM semi-autonomous driving feature that allows for hands-free driving and has beenavailable on the Cadillac brandsince 2017. It will be expanded to 22 other GM brands this model year and next, court papers said.\nThe Cruise brand is developing automated vehicles based on the Chevrolet Bolt platform and is currently testing vehicles on public roads in San Francisco.\nFord, according to the lawsuit, on April 14 announced that it \"will begin offering its new BlueCruise hands-free highway driving system to customers\" later this year.\nGM asserted in the lawsuit that Ford does not have its permission or consent to use the BlueCruise name and said that Ford's use of the name for its automated driving vehicles is \"likely to cause confusion, mistake, or to deceive, as to the affiliation, connection, or association between Ford and both GM and Cruise and/or the origin, sponsorship  or approval of the parties' goods and services.\"\nIn the lawsuit, GM claimed that it took action immediately after Ford's BlueCruise announcement to try to persuade Dearborn, Mich., company to rebrand its automated driving brand, but to no avail.\nThe Detroit automaker said the parties engaged in protracted discussions, but Ford insisted on moving forward with the BlueCruise name despite GM asserting its preexisting rights.\nThe parties agreed to multiple standstill agreements while they negotiated, and GM filed its lawsuit after the most recent agreement expired, according to court papers.\nGM's shares closed on Friday down 1.2% at $54.94, while Ford's stock was down 0.6% at $13.82.","news_type":1,"symbols_score_info":{"GM":0.9,"F":0.9}},"isVote":1,"tweetType":1,"viewCount":361,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":892646998,"gmtCreate":1628658605114,"gmtModify":1631884928833,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Leave","listText":"Leave","text":"Leave","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/892646998","repostId":"1163924715","repostType":4,"repost":{"id":"1163924715","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628654753,"share":"https://www.laohu8.com/m/news/1163924715?lang=zh_CN&edition=full","pubTime":"2021-08-11 12:05","market":"sh","language":"en","title":"The Ark Funds' Actions to Lighten up China Concepts Stocks<blockquote>方舟基金减仓中概股的动作</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163924715","media":"Tiger Newspress","summary":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond","content":"<p><b>Pre-market overview</b></p><p><blockquote><b>上市前概述</b></blockquote></p><p> U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p><p><blockquote>美股盘前下跌，美国10年期国债收益率在亚洲时段再度走低，拖累大宗商品价格，原油跌幅最高达5%，中概股盘前小幅上涨。</blockquote></p><p> In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p><p><blockquote>在二级市场上，有两类美国基金愿意在中国进行投资。其中，其中一家公司已经清算或正在逐步清算其持有的股份。根据方舟基金的日常操作，其一直在减仓包括腾讯控股在内的中概股，从未加仓，尽管前述股票近期出现了一定反弹。最近出现的一个更令人高兴的信号是，方舟基金已经停止减仓中国股票。</blockquote></p><p> On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p><p><blockquote>7月1日，方舟基金共覆盖了10只在美上市的中概股，其中包括8只在美国场外交易（OTC）交易的中概股和2只港股，以当日收盘价计算，这10只股票合计吸金18亿美元，如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>About Its Positions</b></p><p><blockquote><b>关于其立场</b></blockquote></p><p> As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p><p><blockquote>作为一只投资中国股票不够活跃的基金，18亿美元的持仓规模很难说小。投资新兴市场的最大共同基金是景顺发展中市场基金，该基金在中国的投资额为150亿美元，涵盖中概股、港股和A股。因此，方舟在中国的投资并非微不足道。</blockquote></p><p> The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p><p><blockquote>方舟基金号称以技术为本，但似乎该基金并不完全信任中国的技术。通过分析其持有的中国股票，方舟基金目前持有的最多头寸是拥有巨大购买力的电子商务股票，而不是科技公司的股票。美国投资者、Ark Invest首席执行官兼首席信息官Cathie Wood曾在电视上称赞百度的无人驾驶技术，而他们在百度股票中的持仓并没有那么大。然后，中国的新能源汽车来了。方舟基金的投资目标不是中国电动汽车三巨头，包括<a href=\"https://laohu8.com/S/LI\">理想汽车</a>,<a href=\"https://laohu8.com/S/NIO\">蔚来</a>和<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>，但是小牛电动。生产的电动汽车<a href=\"https://laohu8.com/S/NIU\">小牛电动</a>在纽约卖得很好，而另外三家制造商尚未扩展到美国。再次反映了凯西·伍德对中国“技术”的怀疑态度。</blockquote></p><p> <b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p><p><blockquote><b>让我们来看看方舟基金的减仓情况</b></blockquote></p><p> 10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p><p><blockquote>选择10只股票分析其份额变化。7月1日持仓最多的5只股票（京东、TCEHY、BEKE、PDD、百度）如图1所示，合计15亿美元，占比约80%，另外5只股票分别是阿里巴巴、牛、虎牙、比亚迪、BZ，合计3亿美元，占比约20%（图2）。关键日期标记如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2</span></p></blockquote></p><p> The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p><p><blockquote>方舟基金在7月13日和14日清仓了虎牙的所有头寸（如上图所示）。虎牙与斗鱼合并失败的消息于7月12日公布，但方舟基金当天并未大幅减仓，延续了前几日的节奏。</blockquote></p><p> Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p><p><blockquote>另一个标记的日期是7月26日（图1）。7月23日星期五，中国教育股暴跌超过50%。那一天，很少有人意识到发生了连锁反应，在香港上市的中资股将在接下来的一周暴跌。方舟基金也没有意识到这一点。7月26日，方舟基金不得不减仓。前5大持仓均被Ark减持，贝壳控股站在缺口处。这反映了Cathie Wood对中国高增长公司的怀疑。</blockquote></p><p></p><p> The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p><p><blockquote>第三个标记日期是7月28日，如图2所示。在此轮动荡中，方舟基金仅减仓了BOSS直聘的股票（<a href=\"https://laohu8.com/S/BZ\">看准有限公司</a>），这也是一家市值比较小的公司。与此同时，凯西·伍德仍然非常坚持在小牛电动的投资。</blockquote></p><p> In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</p><p><blockquote>过去一周，中概股价格仍在低位徘徊，但方舟基金不再减仓。目前只剩下7只股票。以上周五收盘价计算，持仓为4.5亿美元，与7月1日相比减少了75%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Ark Funds' Actions to Lighten up China Concepts Stocks<blockquote>方舟基金减仓中概股的动作</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\">\nThe Ark Funds' Actions to Lighten up China Concepts Stocks<blockquote>方舟基金减仓中概股的动作</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-11 12:05</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>Pre-market overview</b></p><p><blockquote><b>上市前概述</b></blockquote></p><p> U.S.&nbsp;stocks fell in the pre-market trading, and the&nbsp;U.S.&nbsp;10-Year&nbsp;Government&nbsp;Bond Yields dropped again in Asias&nbsp;hours, pulling down the prices of commodities with crude oil falling up to 5%.&nbsp;China Concepts Stocks rose slightly in the pre-market trading.</p><p><blockquote>美股盘前下跌，美国10年期国债收益率在亚洲时段再度走低，拖累大宗商品价格，原油跌幅最高达5%，中概股盘前小幅上涨。</blockquote></p><p> In the&nbsp;secondary market, there are two types of US funds willing to make investments&nbsp;in China. Thereinto, one of them has liquidated or been gradually liquidating&nbsp;their holdings. According to the daily operations of the Ark Funds, it has been&nbsp;reducing its positions in China Concepts Stocks including Tencent, and has&nbsp;never increased its positions, although the afore-mentioned stocks have&nbsp;rebounded to some extent recently. A more pleasing signal appeared lately is&nbsp;that the Ark Funds has stopped lightening up Chinese stocks.</p><p><blockquote>在二级市场上，有两类美国基金愿意在中国进行投资。其中，其中一家公司已经清算或正在逐步清算其持有的股份。根据方舟基金的日常操作，其一直在减仓包括腾讯控股在内的中概股，从未加仓，尽管前述股票近期出现了一定反弹。最近出现的一个更令人高兴的信号是，方舟基金已经停止减仓中国股票。</blockquote></p><p> On July 1st, a&nbsp;total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including&nbsp;8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC).&nbsp;Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as&nbsp;shown in the following figure.</p><p><blockquote>7月1日，方舟基金共覆盖了10只在美上市的中概股，其中包括8只在美国场外交易（OTC）交易的中概股和2只港股，以当日收盘价计算，这10只股票合计吸金18亿美元，如下图所示。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5be54c5dfdf52cd1c4ea28364f2dc37a\" tg-width=\"622\" tg-height=\"320\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <b>About Its Positions</b></p><p><blockquote><b>关于其立场</b></blockquote></p><p> As a fund that&nbsp;is not active enough to invest in Chinese stocks, it is hard to say that the size&nbsp;of $1.8-billion position is small. The largest mutual fund that invests in&nbsp;emerging markets is the Invesco Developing Markets Fund, which has an&nbsp;investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks&nbsp;and A shares. Therefore, Ark's investment in China is not trivial.</p><p><blockquote>作为一只投资中国股票不够活跃的基金，18亿美元的持仓规模很难说小。投资新兴市场的最大共同基金是景顺发展中市场基金，该基金在中国的投资额为150亿美元，涵盖中概股、港股和A股。因此，方舟在中国的投资并非微不足道。</blockquote></p><p> The Ark Funds&nbsp;claims to be technology-based, but it seems that the Funds does not fully trust&nbsp;China's technology. By analyzing its holdings on Chinese stocks, the most positions&nbsp;held by the Ark Funds now are stocks of e-commerce which owns vast purchasing&nbsp;power, rather than those of technology companies. Cathie Wood, an American&nbsp;investor as well as the CEO &amp; CIO of Ark Invest, once praised Baidu's&nbsp;driverless technology on TV, while their position in Baidu’s stock is not so&nbsp;large. Then, here comes the new energy vehicles of China. The investment target&nbsp;of the Ark Funds is not the Chinese EV trio including <a href=\"https://laohu8.com/S/LI\">Li Auto</a>, <a href=\"https://laohu8.com/S/NIO\">NIO Inc.</a> and&nbsp;<a href=\"https://laohu8.com/S/XPEV\">XPeng Inc.</a>, but NIU Technologies. The electric vehicles produced by <a href=\"https://laohu8.com/S/NIU\">Niu Technologies</a> are good sellers in New York, while another three makers have not&nbsp;yet expanded into the United States. Once again, it reflects Cathie Wood's&nbsp;skeptical attitude towards China's \"technology\".</p><p><blockquote>方舟基金号称以技术为本，但似乎该基金并不完全信任中国的技术。通过分析其持有的中国股票，方舟基金目前持有的最多头寸是拥有巨大购买力的电子商务股票，而不是科技公司的股票。美国投资者、Ark Invest首席执行官兼首席信息官Cathie Wood曾在电视上称赞百度的无人驾驶技术，而他们在百度股票中的持仓并没有那么大。然后，中国的新能源汽车来了。方舟基金的投资目标不是中国电动汽车三巨头，包括<a href=\"https://laohu8.com/S/LI\">理想汽车</a>,<a href=\"https://laohu8.com/S/NIO\">蔚来</a>和<a href=\"https://laohu8.com/S/XPEV\">小鹏汽车</a>，但是小牛电动。生产的电动汽车<a href=\"https://laohu8.com/S/NIU\">小牛电动</a>在纽约卖得很好，而另外三家制造商尚未扩展到美国。再次反映了凯西·伍德对中国“技术”的怀疑态度。</blockquote></p><p> <b>Let’s look into&nbsp;the lightening of the Ark Funds</b></p><p><blockquote><b>让我们来看看方舟基金的减仓情况</b></blockquote></p><p> 10 stocks are&nbsp;chosen to analyze their share changes. 5 stocks with the largest positions on&nbsp;July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5&nbsp;billion, accounting for about 80%.&nbsp;Another 5 stocks are BABA, NIU, HUYA,&nbsp;BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key&nbsp;dates are marked below.</p><p><blockquote>选择10只股票分析其份额变化。7月1日持仓最多的5只股票（京东、TCEHY、BEKE、PDD、百度）如图1所示，合计15亿美元，占比约80%，另外5只股票分别是阿里巴巴、牛、虎牙、比亚迪、BZ，合计3亿美元，占比约20%（图2）。关键日期标记如下。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/41b4d86b2c5953dc32e4a31fb13ee410\" tg-width=\"554\" tg-height=\"269\" referrerpolicy=\"no-referrer\"><span>Figure 1</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09631c97e67c3aa9711d607bca310526\" tg-width=\"554\" tg-height=\"252\" referrerpolicy=\"no-referrer\"><span>Figure 2</span></p><p><blockquote><p class=\"t-img-caption\"><span>图2</span></p></blockquote></p><p> The Ark Funds cleared&nbsp;all its positions in HUYA on July 13 and 14 (marked in the Figure above). The&nbsp;news of the failed merger between Huya and DouYu was announced on July 12, but the&nbsp;Ark Funds did not substantially lighten up its position on the day, and&nbsp;continued the pace in the past few days.&nbsp;</p><p><blockquote>方舟基金在7月13日和14日清仓了虎牙的所有头寸（如上图所示）。虎牙与斗鱼合并失败的消息于7月12日公布，但方舟基金当天并未大幅减仓，延续了前几日的节奏。</blockquote></p><p> Another marked&nbsp;date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on&nbsp;Friday, July 23. On that day, few people realized that a chain reaction had&nbsp;occurred, and Chinese stocks listed in Hong Kong would slump in the following&nbsp;week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had&nbsp;to lighten up its positions. The top 5 largest positions were all reduced by&nbsp;Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's&nbsp;suspicion of high-growth companies in China.</p><p><blockquote>另一个标记的日期是7月26日（图1）。7月23日星期五，中国教育股暴跌超过50%。那一天，很少有人意识到发生了连锁反应，在香港上市的中资股将在接下来的一周暴跌。方舟基金也没有意识到这一点。7月26日，方舟基金不得不减仓。前5大持仓均被Ark减持，贝壳控股站在缺口处。这反映了Cathie Wood对中国高增长公司的怀疑。</blockquote></p><p></p><p> The third marked&nbsp;date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds&nbsp;only lightened up its positions in the stocks of BOSS Zhipin&nbsp;(<a href=\"https://laohu8.com/S/BZ\">Kanzhun Limited</a>), which is also a&nbsp;company with a relatively small market value. Meanwhile, Cathie Wood is still&nbsp;very insistent on the investments in NIU Technologies.</p><p><blockquote>第三个标记日期是7月28日，如图2所示。在此轮动荡中，方舟基金仅减仓了BOSS直聘的股票（<a href=\"https://laohu8.com/S/BZ\">看准有限公司</a>），这也是一家市值比较小的公司。与此同时，凯西·伍德仍然非常坚持在小牛电动的投资。</blockquote></p><p> In the past&nbsp;week, the prices of China Concepts Stocks still hovered at a low level, but the&nbsp;Ark Funds no longer lightened up their positions. At present, there are only 7&nbsp;stocks left. Based on the closing price last Friday, the position is $450&nbsp;million, which is a 75% decrease compared to that of July 1.</p><p><blockquote>过去一周，中概股价格仍在低位徘徊，但方舟基金不再减仓。目前只剩下7只股票。以上周五收盘价计算，持仓为4.5亿美元，与7月1日相比减少了75%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车","NIU":"小牛电动","NIO":"蔚来","BZ":"BOSS直聘","LI":"理想汽车"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163924715","content_text":"Pre-market overview\nU.S. stocks fell in the pre-market trading, and the U.S. 10-Year Government Bond Yields dropped again in Asias hours, pulling down the prices of commodities with crude oil falling up to 5%. China Concepts Stocks rose slightly in the pre-market trading.\nIn the secondary market, there are two types of US funds willing to make investments in China. Thereinto, one of them has liquidated or been gradually liquidating their holdings. According to the daily operations of the Ark Funds, it has been reducing its positions in China Concepts Stocks including Tencent, and has never increased its positions, although the afore-mentioned stocks have rebounded to some extent recently. A more pleasing signal appeared lately is that the Ark Funds has stopped lightening up Chinese stocks.\nOn July 1st, a total of 10 Chinese stocks listed in the U.S. are covered by the Ark Funds, including 8 China Concept Stocks and 2 Hong Kong stocks traded in U.S. over-the-counter (OTC). Based on the closing price of the day, these 10 stocks totaled $1.8 billion, as shown in the following figure.\n\nAbout Its Positions\nAs a fund that is not active enough to invest in Chinese stocks, it is hard to say that the size of $1.8-billion position is small. The largest mutual fund that invests in emerging markets is the Invesco Developing Markets Fund, which has an investment of $15 billion in China, covering China Concepts Stocks, Hong Kong Stocks and A shares. Therefore, Ark's investment in China is not trivial.\nThe Ark Funds claims to be technology-based, but it seems that the Funds does not fully trust China's technology. By analyzing its holdings on Chinese stocks, the most positions held by the Ark Funds now are stocks of e-commerce which owns vast purchasing power, rather than those of technology companies. Cathie Wood, an American investor as well as the CEO & CIO of Ark Invest, once praised Baidu's driverless technology on TV, while their position in Baidu’s stock is not so large. Then, here comes the new energy vehicles of China. The investment target of the Ark Funds is not the Chinese EV trio including Li Auto, NIO Inc. and XPeng Inc., but NIU Technologies. The electric vehicles produced by Niu Technologies are good sellers in New York, while another three makers have not yet expanded into the United States. Once again, it reflects Cathie Wood's skeptical attitude towards China's \"technology\".\nLet’s look into the lightening of the Ark Funds\n10 stocks are chosen to analyze their share changes. 5 stocks with the largest positions on July 1 (JD, TCEHY, BEKE, PDD, and BIDU) are shown in Figure 1, totaling $1.5 billion, accounting for about 80%. Another 5 stocks are BABA, NIU, HUYA, BYDDY, and BZ, totaling $300 million, accounting for about 20% (Figure 2). Key dates are marked below.\nFigure 1\nFigure 2\nThe Ark Funds cleared all its positions in HUYA on July 13 and 14 (marked in the Figure above). The news of the failed merger between Huya and DouYu was announced on July 12, but the Ark Funds did not substantially lighten up its position on the day, and continued the pace in the past few days. \nAnother marked date is July 26 (Figure 1). The Chinese education stocks plummeted over 50% on Friday, July 23. On that day, few people realized that a chain reaction had occurred, and Chinese stocks listed in Hong Kong would slump in the following week. The Ark Funds failed to realize it, either. On July 26, the Ark Funds had to lighten up its positions. The top 5 largest positions were all reduced by Ark, with Ke Holdings standing in the breach. This reflects Cathie Wood's suspicion of high-growth companies in China.\nThe third marked date is July 28, as shown in Figure 2. In this round of turmoil, the Ark Funds only lightened up its positions in the stocks of BOSS Zhipin (Kanzhun Limited), which is also a company with a relatively small market value. Meanwhile, Cathie Wood is still very insistent on the investments in NIU Technologies.\nIn the past week, the prices of China Concepts Stocks still hovered at a low level, but the Ark Funds no longer lightened up their positions. At present, there are only 7 stocks left. Based on the closing price last Friday, the position is $450 million, which is a 75% decrease compared to that of July 1.","news_type":1,"symbols_score_info":{"BZ":0.9,"NIO":0.9,"LI":0.9,"XPEV":0.9,"NIU":0.9}},"isVote":1,"tweetType":1,"viewCount":3238,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137271077,"gmtCreate":1622355929499,"gmtModify":1634102068621,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/137271077","repostId":"2138488761","repostType":4,"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173276201,"gmtCreate":1626666051903,"gmtModify":1633925090038,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/173276201","repostId":"1131628595","repostType":4,"repost":{"id":"1131628595","kind":"news","pubTimestamp":1626665643,"share":"https://www.laohu8.com/m/news/1131628595?lang=zh_CN&edition=full","pubTime":"2021-07-19 11:34","market":"us","language":"en","title":"Investors are very scared even with stocks near record highs<blockquote>即使股市接近历史新高，投资者也非常害怕</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1131628595","media":"CNN","summary":"New York The Dow and S&P 500 are both up about 15% in 2021 and are each about a percent away from their all-time highs. But as Friday's market sell-off showed, investors remain extremely nervous about the market.The CNN Business Fear & Greed Index, which looks at seven different measures of market sentiment, is showing signs of Extreme Fear. Four of the seven indicators are in bearish territory.Demand for safe haven bonds is picking up. That's pushed the benchmark 10-year Treasury yield all the ","content":"<p>New York (CNN Business)The Dow and S&amp;P 500 are both up about 15% in 2021 and are each about a percent away from their all-time highs. But as Friday's market sell-off showed, investors remain extremely nervous about the market.</p><p><blockquote>纽约（CNN Business）道琼斯指数和标普500指数在2021年均上涨了约15%，距离历史高点均相差约1%。但正如周五的市场抛售所显示的那样，投资者对市场仍极度紧张。</blockquote></p><p> The CNN Business Fear &amp; Greed Index, which looks at seven different measures of market sentiment, is showing signs of Extreme Fear. Four of the seven indicators are in bearish territory.</p><p><blockquote>CNN商业恐惧与贪婪指数着眼于七种不同的市场情绪指标，显示出极度恐惧的迹象。七个指标中有四个处于看跌区域。</blockquote></p><p> Demand for safe haven bonds is picking up. That's pushed the benchmark 10-year Treasury yield all the way down to 1.3%, compared to a level above 1.75% as recently as March.</p><p><blockquote>对避险债券的需求正在回升。这使得基准10年期国债收益率一路跌至1.3%，而3月份的水平还高于1.75%。</blockquote></p><p> Investors are also buying more put options, contracts that give them the right to sell stocks and other assets at a specific price.</p><p><blockquote>投资者也在购买更多的看跌期权，即赋予他们以特定价格出售股票和其他资产的权利的合约。</blockquote></p><p> The number of companies with stocks hitting new 52-week lows versus highs is increasing, and trading volume for stocks that are falling is also outpacing volume for stocks that are climbing. But the solid gains for the FAANGs of Big Tech have helped lift the broader market in spite of this.</p><p><blockquote>股票创下52周新低与高点的公司数量正在增加，下跌股票的交易量也超过了上涨股票的交易量。但尽管如此，大型科技公司FAANG的稳健上涨还是帮助提振了大盘。</blockquote></p><p> A little bit of fear is healthy</p><p><blockquote>一点点恐惧是健康的</blockquote></p><p> There are several legitimate reasons for investors to be worried.</p><p><blockquote>投资者有几个合理的理由感到担忧。</blockquote></p><p> Even though the economy and corporate earnings have rebounded sharply from their pandemic era lows of last spring and early summer, worries persist about the Delta variant and the fact that many Americans remain unvaccinated.</p><p><blockquote>尽管经济和企业盈利已从去年春天和初夏的大流行时代低点大幅反弹，但对德尔塔变异毒株和许多美国人仍未接种疫苗的担忧依然存在。</blockquote></p><p> There are also conflicting signs about the recovery. The US government reported a sharp rebound in retail sales for June on Friday but that was complicated by another report showing a sizable drop in consumer confidence.</p><p><blockquote>关于复苏，也有相互矛盾的迹象。美国政府周五公布6月份零售额大幅反弹，但另一份显示消费者信心大幅下降的报告使情况变得复杂。</blockquote></p><p> The persistent rise in the prices of many consumer goods is raising inflation alarm bells as well.</p><p><blockquote>许多消费品价格的持续上涨也敲响了通货膨胀的警钟。</blockquote></p><p> Still, some market experts believe that the skepticism is healthy.</p><p><blockquote>尽管如此，一些市场专家认为，这种怀疑是健康的。</blockquote></p><p> There's a saying on Wall Street that stocks climb a wall of worry, meaning that it's a good sign if the market is going up even though there are legitimate concerns. The absence of such worry can often lead to excessive speculation and market bubbles.</p><p><blockquote>华尔街有一种说法，股票会爬上担忧之墙，这意味着如果市场正在上涨，即使存在合理的担忧，这也是一个好兆头。缺乏这种担忧往往会导致过度投机和市场泡沫。</blockquote></p><p> \"It's not abnormal after you have a jolt in the economy and market to have lingering fear. It takes a long time for investors to become comfortable with advances in stocks coming off the bottom,\" said Kelly Bogdanova, vice president of the portfolio advisory group with RBC Wealth Management.</p><p><blockquote>投资组合咨询副总裁凯利·博格丹诺娃(Kelly Bogdanova)表示：“在经济和市场出现震荡后，心有余悸并不罕见。投资者需要很长时间才能适应股市走出谷底的上涨。”加拿大皇家银行财富管理集团。</blockquote></p><p> \"I'd rather see some fear than people being complacent. Investors being nervous doesn't trouble me,\" she added.</p><p><blockquote>“我宁愿看到一些恐惧，也不愿看到人们沾沾自喜。投资者的紧张不会困扰我，”她补充道。</blockquote></p><p> Bumpier ride for stocks but path of least resistance is up</p><p><blockquote>股市走势更加坎坷，但阻力最小的路径正在上涨</blockquote></p><p> That being said, investors may have to brace themselves for more volatility in the coming months.</p><p><blockquote>话虽如此，投资者可能必须为未来几个月的更大波动做好准备。</blockquote></p><p> The so-called easy money in stocks may have already been made during this year's stock surge. Bogdanova said that \"the market is now entering a transition period\" and instead of \"explosive growth, it will be a two steps forward and one step back\" type of environment.</p><p><blockquote>股票所谓的轻松赚钱，可能在今年的股票大涨中就已经赚到了。波格丹诺娃表示，“市场现在正在进入一个过渡期”，而不是“爆炸性增长，这将是一个前进两步，后退一步”类型的环境。</blockquote></p><p> Inflation concerns and skittishness about how the Federal Reserve will react to headlines about higher prices are likely to stick around too. But the recent slide in bond yields might actually be an encouraging sign for investors.</p><p><blockquote>通胀担忧以及对美联储将如何应对物价上涨头条新闻的不安也可能持续存在。但最近债券收益率的下滑实际上对投资者来说可能是一个令人鼓舞的迹象。</blockquote></p><p> If the bond market was really that afraid of inflation, yields would be rising instead of falling. Inflation typically leads to much higher interest rates, not the other way around.</p><p><blockquote>如果债券市场真的那么害怕通胀，收益率就会上升而不是下降。通货膨胀通常会导致利率高得多，而不是相反。</blockquote></p><p> So it would appear that bond investors agree with Fed chair Jerome Powell, who has repeatedly described the current bout of inflation as \"transitory.\"</p><p><blockquote>因此，债券投资者似乎同意美联储主席杰罗姆·鲍威尔的观点，他多次将当前的通胀描述为“暂时的”。</blockquote></p><p> \"The bond market is giving the message that inflation concerns are not permanent,\" said Steve Wyett, chief investment strategist with BOK Financial.</p><p><blockquote>BOK Financial首席投资策略师Steve Wyett表示：“债券市场传达的信息是，通胀担忧不是永久性的。”</blockquote></p><p> There's also the fact that corporate earnings are expected to keep climbing. That bodes well for stocks.</p><p><blockquote>还有一个事实是，企业盈利预计将继续攀升。这对股市来说是个好兆头。</blockquote></p><p> According to FactSet, analysts expect corporate profits to rise 24% from a year ago in the third quarter and increase nearly 19% in the fourth quarter. Growth is expected to dip somewhat next year, but analysts are still forecasting a healthy 11% increase in earnings for 2022.</p><p><blockquote>FactSet的数据显示，分析师预计第三季度企业利润将同比增长24%，第四季度将增长近19%。预计明年的增长将有所下降，但分析师仍预测2022年盈利将健康增长11%。</blockquote></p><p> What's more, profits are climbing even as many companies are raising wages to entice people back into the work force.</p><p><blockquote>更重要的是，尽管许多公司正在提高工资以吸引人们重返劳动力市场，但利润仍在攀升。</blockquote></p><p> \"There is room for companies to pay more for labor and not hurt their margins,\" Wyett said. \"We should see continued earnings growth. The stage is set to go from a stimulus led recovery to one with private sector expansion.\"</p><p><blockquote>怀亚特说：“公司有空间在不损害利润的情况下支付更多劳动力费用。”“我们应该会看到盈利持续增长。这个阶段将从刺激主导的复苏转向私营部门扩张的复苏。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors are very scared even with stocks near record highs<blockquote>即使股市接近历史新高，投资者也非常害怕</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\">\nInvestors are very scared even with stocks near record highs<blockquote>即使股市接近历史新高，投资者也非常害怕</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN</strong><span class=\"h-time small\">2021-07-19 11:34</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN Business)The Dow and S&amp;P 500 are both up about 15% in 2021 and are each about a percent away from their all-time highs. But as Friday's market sell-off showed, investors remain extremely nervous about the market.</p><p><blockquote>纽约（CNN Business）道琼斯指数和标普500指数在2021年均上涨了约15%，距离历史高点均相差约1%。但正如周五的市场抛售所显示的那样，投资者对市场仍极度紧张。</blockquote></p><p> The CNN Business Fear &amp; Greed Index, which looks at seven different measures of market sentiment, is showing signs of Extreme Fear. Four of the seven indicators are in bearish territory.</p><p><blockquote>CNN商业恐惧与贪婪指数着眼于七种不同的市场情绪指标，显示出极度恐惧的迹象。七个指标中有四个处于看跌区域。</blockquote></p><p> Demand for safe haven bonds is picking up. That's pushed the benchmark 10-year Treasury yield all the way down to 1.3%, compared to a level above 1.75% as recently as March.</p><p><blockquote>对避险债券的需求正在回升。这使得基准10年期国债收益率一路跌至1.3%，而3月份的水平还高于1.75%。</blockquote></p><p> Investors are also buying more put options, contracts that give them the right to sell stocks and other assets at a specific price.</p><p><blockquote>投资者也在购买更多的看跌期权，即赋予他们以特定价格出售股票和其他资产的权利的合约。</blockquote></p><p> The number of companies with stocks hitting new 52-week lows versus highs is increasing, and trading volume for stocks that are falling is also outpacing volume for stocks that are climbing. But the solid gains for the FAANGs of Big Tech have helped lift the broader market in spite of this.</p><p><blockquote>股票创下52周新低与高点的公司数量正在增加，下跌股票的交易量也超过了上涨股票的交易量。但尽管如此，大型科技公司FAANG的稳健上涨还是帮助提振了大盘。</blockquote></p><p> A little bit of fear is healthy</p><p><blockquote>一点点恐惧是健康的</blockquote></p><p> There are several legitimate reasons for investors to be worried.</p><p><blockquote>投资者有几个合理的理由感到担忧。</blockquote></p><p> Even though the economy and corporate earnings have rebounded sharply from their pandemic era lows of last spring and early summer, worries persist about the Delta variant and the fact that many Americans remain unvaccinated.</p><p><blockquote>尽管经济和企业盈利已从去年春天和初夏的大流行时代低点大幅反弹，但对德尔塔变异毒株和许多美国人仍未接种疫苗的担忧依然存在。</blockquote></p><p> There are also conflicting signs about the recovery. The US government reported a sharp rebound in retail sales for June on Friday but that was complicated by another report showing a sizable drop in consumer confidence.</p><p><blockquote>关于复苏，也有相互矛盾的迹象。美国政府周五公布6月份零售额大幅反弹，但另一份显示消费者信心大幅下降的报告使情况变得复杂。</blockquote></p><p> The persistent rise in the prices of many consumer goods is raising inflation alarm bells as well.</p><p><blockquote>许多消费品价格的持续上涨也敲响了通货膨胀的警钟。</blockquote></p><p> Still, some market experts believe that the skepticism is healthy.</p><p><blockquote>尽管如此，一些市场专家认为，这种怀疑是健康的。</blockquote></p><p> There's a saying on Wall Street that stocks climb a wall of worry, meaning that it's a good sign if the market is going up even though there are legitimate concerns. The absence of such worry can often lead to excessive speculation and market bubbles.</p><p><blockquote>华尔街有一种说法，股票会爬上担忧之墙，这意味着如果市场正在上涨，即使存在合理的担忧，这也是一个好兆头。缺乏这种担忧往往会导致过度投机和市场泡沫。</blockquote></p><p> \"It's not abnormal after you have a jolt in the economy and market to have lingering fear. It takes a long time for investors to become comfortable with advances in stocks coming off the bottom,\" said Kelly Bogdanova, vice president of the portfolio advisory group with RBC Wealth Management.</p><p><blockquote>投资组合咨询副总裁凯利·博格丹诺娃(Kelly Bogdanova)表示：“在经济和市场出现震荡后，心有余悸并不罕见。投资者需要很长时间才能适应股市走出谷底的上涨。”加拿大皇家银行财富管理集团。</blockquote></p><p> \"I'd rather see some fear than people being complacent. Investors being nervous doesn't trouble me,\" she added.</p><p><blockquote>“我宁愿看到一些恐惧，也不愿看到人们沾沾自喜。投资者的紧张不会困扰我，”她补充道。</blockquote></p><p> Bumpier ride for stocks but path of least resistance is up</p><p><blockquote>股市走势更加坎坷，但阻力最小的路径正在上涨</blockquote></p><p> That being said, investors may have to brace themselves for more volatility in the coming months.</p><p><blockquote>话虽如此，投资者可能必须为未来几个月的更大波动做好准备。</blockquote></p><p> The so-called easy money in stocks may have already been made during this year's stock surge. Bogdanova said that \"the market is now entering a transition period\" and instead of \"explosive growth, it will be a two steps forward and one step back\" type of environment.</p><p><blockquote>股票所谓的轻松赚钱，可能在今年的股票大涨中就已经赚到了。波格丹诺娃表示，“市场现在正在进入一个过渡期”，而不是“爆炸性增长，这将是一个前进两步，后退一步”类型的环境。</blockquote></p><p> Inflation concerns and skittishness about how the Federal Reserve will react to headlines about higher prices are likely to stick around too. But the recent slide in bond yields might actually be an encouraging sign for investors.</p><p><blockquote>通胀担忧以及对美联储将如何应对物价上涨头条新闻的不安也可能持续存在。但最近债券收益率的下滑实际上对投资者来说可能是一个令人鼓舞的迹象。</blockquote></p><p> If the bond market was really that afraid of inflation, yields would be rising instead of falling. Inflation typically leads to much higher interest rates, not the other way around.</p><p><blockquote>如果债券市场真的那么害怕通胀，收益率就会上升而不是下降。通货膨胀通常会导致利率高得多，而不是相反。</blockquote></p><p> So it would appear that bond investors agree with Fed chair Jerome Powell, who has repeatedly described the current bout of inflation as \"transitory.\"</p><p><blockquote>因此，债券投资者似乎同意美联储主席杰罗姆·鲍威尔的观点，他多次将当前的通胀描述为“暂时的”。</blockquote></p><p> \"The bond market is giving the message that inflation concerns are not permanent,\" said Steve Wyett, chief investment strategist with BOK Financial.</p><p><blockquote>BOK Financial首席投资策略师Steve Wyett表示：“债券市场传达的信息是，通胀担忧不是永久性的。”</blockquote></p><p> There's also the fact that corporate earnings are expected to keep climbing. That bodes well for stocks.</p><p><blockquote>还有一个事实是，企业盈利预计将继续攀升。这对股市来说是个好兆头。</blockquote></p><p> According to FactSet, analysts expect corporate profits to rise 24% from a year ago in the third quarter and increase nearly 19% in the fourth quarter. Growth is expected to dip somewhat next year, but analysts are still forecasting a healthy 11% increase in earnings for 2022.</p><p><blockquote>FactSet的数据显示，分析师预计第三季度企业利润将同比增长24%，第四季度将增长近19%。预计明年的增长将有所下降，但分析师仍预测2022年盈利将健康增长11%。</blockquote></p><p> What's more, profits are climbing even as many companies are raising wages to entice people back into the work force.</p><p><blockquote>更重要的是，尽管许多公司正在提高工资以吸引人们重返劳动力市场，但利润仍在攀升。</blockquote></p><p> \"There is room for companies to pay more for labor and not hurt their margins,\" Wyett said. \"We should see continued earnings growth. The stage is set to go from a stimulus led recovery to one with private sector expansion.\"</p><p><blockquote>怀亚特说：“公司有空间在不损害利润的情况下支付更多劳动力费用。”“我们应该会看到盈利持续增长。这个阶段将从刺激主导的复苏转向私营部门扩张的复苏。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/07/17/investing/stocks-fear-greed/index.html\">CNN</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/07/17/investing/stocks-fear-greed/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131628595","content_text":"New York (CNN Business)The Dow and S&P 500 are both up about 15% in 2021 and are each about a percent away from their all-time highs. But as Friday's market sell-off showed, investors remain extremely nervous about the market.\nThe CNN Business Fear & Greed Index, which looks at seven different measures of market sentiment, is showing signs of Extreme Fear. Four of the seven indicators are in bearish territory.\nDemand for safe haven bonds is picking up. That's pushed the benchmark 10-year Treasury yield all the way down to 1.3%, compared to a level above 1.75% as recently as March.\nInvestors are also buying more put options, contracts that give them the right to sell stocks and other assets at a specific price.\nThe number of companies with stocks hitting new 52-week lows versus highs is increasing, and trading volume for stocks that are falling is also outpacing volume for stocks that are climbing. But the solid gains for the FAANGs of Big Tech have helped lift the broader market in spite of this.\nA little bit of fear is healthy\nThere are several legitimate reasons for investors to be worried.\nEven though the economy and corporate earnings have rebounded sharply from their pandemic era lows of last spring and early summer, worries persist about the Delta variant and the fact that many Americans remain unvaccinated.\nThere are also conflicting signs about the recovery. The US government reported a sharp rebound in retail sales for June on Friday but that was complicated by another report showing a sizable drop in consumer confidence.\nThe persistent rise in the prices of many consumer goods is raising inflation alarm bells as well.\nStill, some market experts believe that the skepticism is healthy.\nThere's a saying on Wall Street that stocks climb a wall of worry, meaning that it's a good sign if the market is going up even though there are legitimate concerns. The absence of such worry can often lead to excessive speculation and market bubbles.\n\"It's not abnormal after you have a jolt in the economy and market to have lingering fear. It takes a long time for investors to become comfortable with advances in stocks coming off the bottom,\" said Kelly Bogdanova, vice president of the portfolio advisory group with RBC Wealth Management.\n\"I'd rather see some fear than people being complacent. Investors being nervous doesn't trouble me,\" she added.\nBumpier ride for stocks but path of least resistance is up\nThat being said, investors may have to brace themselves for more volatility in the coming months.\nThe so-called easy money in stocks may have already been made during this year's stock surge. Bogdanova said that \"the market is now entering a transition period\" and instead of \"explosive growth, it will be a two steps forward and one step back\" type of environment.\nInflation concerns and skittishness about how the Federal Reserve will react to headlines about higher prices are likely to stick around too. But the recent slide in bond yields might actually be an encouraging sign for investors.\nIf the bond market was really that afraid of inflation, yields would be rising instead of falling. Inflation typically leads to much higher interest rates, not the other way around.\nSo it would appear that bond investors agree with Fed chair Jerome Powell, who has repeatedly described the current bout of inflation as \"transitory.\"\n\"The bond market is giving the message that inflation concerns are not permanent,\" said Steve Wyett, chief investment strategist with BOK Financial.\nThere's also the fact that corporate earnings are expected to keep climbing. That bodes well for stocks.\nAccording to FactSet, analysts expect corporate profits to rise 24% from a year ago in the third quarter and increase nearly 19% in the fourth quarter. Growth is expected to dip somewhat next year, but analysts are still forecasting a healthy 11% increase in earnings for 2022.\nWhat's more, profits are climbing even as many companies are raising wages to entice people back into the work force.\n\"There is room for companies to pay more for labor and not hurt their margins,\" Wyett said. \"We should see continued earnings growth. The stage is set to go from a stimulus led recovery to one with private sector expansion.\"","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":367,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149313953,"gmtCreate":1625704676572,"gmtModify":1633938222205,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/149313953","repostId":"1176865752","repostType":4,"isVote":1,"tweetType":1,"viewCount":418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146138985,"gmtCreate":1626057813547,"gmtModify":1633930553327,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/146138985","repostId":"1114863871","repostType":4,"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":124610858,"gmtCreate":1624761704574,"gmtModify":1633948957294,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/124610858","repostId":"2146070550","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":115990971,"gmtCreate":1622944962193,"gmtModify":1634096768207,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/115990971","repostId":"2141283409","repostType":4,"isVote":1,"tweetType":1,"viewCount":166,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805974742,"gmtCreate":1627858567786,"gmtModify":1631890358444,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Nope","listText":"Nope","text":"Nope","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805974742","repostId":"1147877145","repostType":4,"isVote":1,"tweetType":1,"viewCount":687,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":174261329,"gmtCreate":1627102059461,"gmtModify":1633767928511,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/174261329","repostId":"2153388319","repostType":4,"repost":{"id":"2153388319","kind":"highlight","pubTimestamp":1627088419,"share":"https://www.laohu8.com/m/news/2153388319?lang=zh_CN&edition=full","pubTime":"2021-07-24 09:00","market":"us","language":"en","title":"Here are Wall Street's favorite big tech stocks as the Nasdaq closes in on another milestone<blockquote>随着纳斯达克接近另一个里程碑，以下是华尔街最受欢迎的大型科技股</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2153388319","media":"MarketWatch","summary":"As the Nasdaq Composite Index nears 15,000, analysts see upside for Activision Blizzard, Netflix and","content":"<p>As the Nasdaq Composite Index nears 15,000, analysts see upside for Activision Blizzard, Netflix and Baidu, among others</p><p><blockquote>随着纳斯达克综合指数接近15,000点，分析师认为动视暴雪、Netflix和百度等公司还有上涨空间</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c007522d36ee30fcaeab059a92a280e\" tg-width=\"700\" tg-height=\"485\" width=\"100%\" height=\"auto\"><span>Some 88% of analysts rate Activision Blizzard \"buy,\" and their consensus price target is 27% above the stock's closing price July 23. (Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>约88%的分析师将动视暴雪评级为“买入”，他们的一致目标价比该股7月23日的收盘价高出27%。（盖蒂图片社）</span></p></blockquote></p><p> All three of the major U.S. stock indexes hit records Friday, and the Nasdaq Composite Index might reach its next milestone -- 15,000 -- next week.</p><p><blockquote>美国三大股指周五均创下历史新高，纳斯达克综合指数下周可能会达到下一个里程碑——15,000点。</blockquote></p><p> Below is a list of stocks whose gains have powered the Nasdaq Composite Index's gains this year, along with another list of analysts' favorite stocks among the Nasdaq-100 Index .</p><p><blockquote>以下是今年以来推动纳斯达克综合指数上涨的股票列表，以及纳斯达克100指数中分析师最喜欢的股票列表。</blockquote></p><p> Here's a summary of Friday's action:</p><p><blockquote>以下是周五行动的摘要：</blockquote></p><p> (Note: All price changes in this article exclude dividends.)</p><p><blockquote>（注：本文中的所有价格变化均不包括股息。）</blockquote></p><p> <b>Nasdaq-100 winners for 2021</b></p><p><blockquote><b>2021年纳斯达克100指数获奖者</b></blockquote></p><p> The Nasdaq-100 Index is made up of the 100 largest non-financial companies by market capitalization in the full Nasdaq Composite Index. It is reconstituted each year in December. Both indexes are weighted by market cap, and the Nasdaq-100's market cap of $17.21 trillion is about 73% of the full index. So most of the full Nasdaq's performance is represented by the Nasdaq-100, which is tracked by the Invesco QQQ Trust <a href=\"https://laohu8.com/S/QQQ\">$(QQQ)$</a>.</p><p><blockquote>纳斯达克100指数由整个纳斯达克综合指数中市值最大的100家非金融公司组成。它在每年12月重组。两个指数均按市值加权，纳斯达克100指数17.21万亿美元的市值约占整个指数的73%。因此，整个纳斯达克的大部分表现都由景顺QQQ信托追踪的纳斯达克100指数代表<a href=\"https://laohu8.com/S/QQQ\">$(QQQ)$</a>.</blockquote></p><p> Here are the 10 stocks among the Nasdaq-100 that have risen the most during 2021 through July 23:</p><p><blockquote>以下是2021年至7月23日期间纳斯达克100指数中涨幅最大的10只股票：</blockquote></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>Price change -- 2021</td>    <td>Price change -- July 23</td>    <td>52-week high</td>    <td>Date of 52-week high</td>    <td>Decline from 52-week high</td>   </tr>   <tr>    <td>Moderna Inc. MRNA</td>    <td>233.9%</td>    <td>7.8%</td>    <td>$349.45</td>    <td>07/23/2021</td>    <td>-0.2%</td>   </tr>   <tr>    <td>Applied Materials Inc. AMAT</td>    <td>60.4%</td>    <td>0.9%</td>    <td>$146.00</td>    <td>04/05/2021</td>    <td>-5.2%</td>   </tr>   <tr>    <td>Alphabet Inc. Class C GOOG</td>    <td>57.3%</td>    <td>3.4%</td>    <td>$2,776.17</td>    <td>07/23/2021</td>    <td>-0.7%</td>   </tr>   <tr>    <td>ASML Holding NV ADR ASML</td>    <td>53.4%</td>    <td>2.5%</td>    <td>$756.78</td>    <td>07/23/2021</td>    <td>-1.1%</td>   </tr>   <tr>    <td>Alphabet Inc. Class A GOOGL</td>    <td>51.8%</td>    <td>3.6%</td>    <td>$2,667.98</td>    <td>07/23/2021</td>    <td>-0.3%</td>   </tr>   <tr>    <td>Nvidia Corp.</td>    <td>49.8%</td>    <td>-0.2%</td>    <td>$208.75</td>    <td>07/07/2021</td>    <td>-6.3%</td>   </tr>   <tr>    <td>EBay Inc. EBAY</td>    <td>46.3%</td>    <td>2.1%</td>    <td>$73.77</td>    <td>07/23/2021</td>    <td>-0.3%</td>   </tr>   <tr>    <td>Intuit Inc. INTU</td>    <td>39.1%</td>    <td>1.4%</td>    <td>$532.33</td>    <td>07/23/2021</td>    <td>-0.7%</td>   </tr>   <tr>    <td>Idexx Laboratories Inc. IDXX</td>    <td>38.8%</td>    <td>1.6%</td>    <td>$696.35</td>    <td>07/23/2021</td>    <td>-0.4%</td>   </tr>   <tr>    <td>DocuSign Inc. DOCU</td>    <td>38.8%</td>    <td>0.2%</td>    <td>$310.51</td>    <td>07/22/2021</td>    <td>-0.6%</td>   </tr>   <tr>    <td>CDW Corp. CDW</td>    <td>37.3%</td>    <td>2.0%</td>    <td>$184.58</td>    <td>04/16/2021</td>    <td>-2.0%</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> Actually, there are 11 stocks on the list because the index includes Alphabet Inc.'s Class C <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> and Class A (GOOGL) shares.</p><p><blockquote><table><tbody><tr><td>公司</td><td>价格变动--2021</td><td>价格变化——7月23日</td><td>52周高点</td><td>52周高点日期</td><td>较52周高点下跌</td></tr><tr><td>莫德纳公司MRNA</td><td>233.9%</td><td>7.8%</td><td>$349.45</td><td>07/23/2021</td><td>-0.2%</td></tr><tr><td>应用材料公司AMAT</td><td>60.4%</td><td>0.9%</td><td>$146.00</td><td>04/05/2021</td><td>-5.2%</td></tr><tr><td>Alphabet公司C类GOOG</td><td>57.3%</td><td>3.4%</td><td>$2,776.17</td><td>07/23/2021</td><td>-0.7%</td></tr><tr><td>ASML控股NV ADR ASML</td><td>53.4%</td><td>2.5%</td><td>$756.78</td><td>07/23/2021</td><td>-1.1%</td></tr><tr><td>Alphabet A级GOOGL</td><td>51.8%</td><td>3.6%</td><td>$2,667.98</td><td>07/23/2021</td><td>-0.3%</td></tr><tr><td>英伟达公司。</td><td>49.8%</td><td>-0.2%</td><td>$208.75</td><td>07/07/2021</td><td>-6.3%</td></tr><tr><td>EBay公司EBay</td><td>46.3%</td><td>2.1%</td><td>$73.77</td><td>07/23/2021</td><td>-0.3%</td></tr><tr><td>Intuit公司INTU</td><td>39.1%</td><td>1.4%</td><td>$532.33</td><td>07/23/2021</td><td>-0.7%</td></tr><tr><td>Idexx实验室公司IDXX</td><td>38.8%</td><td>1.6%</td><td>$696.35</td><td>07/23/2021</td><td>-0.4%</td></tr><tr><td>DocuSign Inc.DOCU</td><td>38.8%</td><td>0.2%</td><td>$310.51</td><td>07/22/2021</td><td>-0.6%</td></tr><tr><td>CDW公司CDW</td><td>37.3%</td><td>2.0%</td><td>$184.58</td><td>04/16/2021</td><td>-2.0%</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td><td></td></tr></tbody></table>事实上，名单上有11只股票，因为该指数包括Alphabet公司的C类股票<a href=\"https://laohu8.com/S/GOOGL\">$（GOOGL）$</a>和A类（GOOGL）股份。</blockquote></p><p> Seven of those stocks hit 52-week highs July 23.</p><p><blockquote>其中7只股票于7月23日触及52周高点。</blockquote></p><p> <b>Wall Street's favorite stocks in the Nasdaq-100</b></p><p><blockquote><b>纳斯达克100指数中华尔街最喜欢的股票</b></blockquote></p><p> Here are the 10 stocks in the Nasdaq-100 with \"buy\" or equivalent ratings among at least 75% of analysts polled by FactSet, with the most 12-month upside potential implied by consensus price targets:</p><p><blockquote>以下是纳斯达克100指数中至少75%的分析师给予“买入”或同等评级的10只股票，共识价格目标暗示了最大的12个月上涨潜力：</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>Share \"buy\" ratings</td>    <td>Closing price -- July 23</td>    <td>Consensus price target</td>    <td>Implied 12-month upside potential</td>    <td>Price change -- July 23</td>    <td>Price change -- 2021</td>   </tr>   <tr>    <td>Baidu Inc. ADR Class A BIDU</td>    <td>86%</td>    <td>$172.66</td>    <td>$311.92</td>    <td>81%</td>    <td>-3.3%</td>    <td>-20.2%</td>   </tr>   <tr>    <td>Micron Technology Inc. MU</td>    <td>88%</td>    <td>$75.94</td>    <td>$121.25</td>    <td>60%</td>    <td>0.5%</td>    <td>1.0%</td>   </tr>   <tr>    <td>JD.com Inc. ADR Class A JD</td>    <td>91%</td>    <td>$72.29</td>    <td>$98.15</td>    <td>36%</td>    <td>-4.8%</td>    <td>-17.8%</td>   </tr>   <tr>    <td>NetEase Inc. ADR</td>    <td>86%</td>    <td>$103.53</td>    <td>$134.54</td>    <td>30%</td>    <td>-8.0%</td>    <td>8.1%</td>   </tr>   <tr>    <td>Vertex Pharmaceuticals Inc. VRTX</td>    <td>78%</td>    <td>$200.50</td>    <td>$259.71</td>    <td>30%</td>    <td>2.3%</td>    <td>-15.2%</td>   </tr>   <tr>    <td>Microchip Technology Inc. MCHP</td>    <td>76%</td>    <td>$139.22</td>    <td>$177.14</td>    <td>27%</td>    <td>0.6%</td>    <td>0.8%</td>   </tr>   <tr>    <td>Activision Blizzard Inc. ATVI</td>    <td>88%</td>    <td>$91.50</td>    <td>$116.09</td>    <td>27%</td>    <td>1.1%</td>    <td>-1.5%</td>   </tr>   <tr>    <td>Fiserv Inc. FISV</td>    <td>85%</td>    <td>$111.79</td>    <td>$141.27</td>    <td>26%</td>    <td>1.6%</td>    <td>-1.8%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> Inc. MELI</td>    <td>78%</td>    <td>$1,613.81</td>    <td>$2,021.37</td>    <td>25%</td>    <td>1.4%</td>    <td>-3.7%</td>   </tr>   <tr>    <td>Netflix Inc. NFLX</td>    <td>78%</td>    <td>$515.41</td>    <td>$619.67</td>    <td>20%</td>    <td>0.7%</td>    <td>-4.7%</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> Chinese stocks listed in the U.S. took a beating Friday, and you can see from the three on this list (Baidu Inc. (K3SD.SG), JD.com Inc. <a href=\"https://laohu8.com/S/JD\">$(JD)$</a> and NetEase Inc. <a href=\"https://laohu8.com/S/NTES\">$(NTES)$</a>) that this hasn't been a good year for the group. Therese Poletti explained why.</p><p><blockquote><table><tbody><tr><td>公司</td><td>分享“买入”评级</td><td>收盘价——7月23日</td><td>共识价格目标</td><td>隐含的12个月上涨潜力</td><td>价格变化——7月23日</td><td>价格变动--2021</td></tr><tr><td>百度ADR A类BIDU</td><td>86%</td><td>$172.66</td><td>$311.92</td><td>81%</td><td>-3.3%</td><td>-20.2%</td></tr><tr><td>美光科技公司MU</td><td>88%</td><td>$75.94</td><td>$121.25</td><td>60%</td><td>0.5%</td><td>1.0%</td></tr><tr><td>京东ADR A类JD</td><td>91%</td><td>$72.29</td><td>$98.15</td><td>36%</td><td>-4.8%</td><td>-17.8%</td></tr><tr><td>网易公司ADR</td><td>86%</td><td>$103.53</td><td>$134.54</td><td>30%</td><td>-8.0%</td><td>8.1%</td></tr><tr><td>Vertex制药公司VRTX</td><td>78%</td><td>$200.50</td><td>$259.71</td><td>30%</td><td>2.3%</td><td>-15.2%</td></tr><tr><td>微芯科技公司MCHP</td><td>76%</td><td>$139.22</td><td>$177.14</td><td>27%</td><td>0.6%</td><td>0.8%</td></tr><tr><td>动视暴雪公司ATVI</td><td>88%</td><td>$91.50</td><td>$116.09</td><td>27%</td><td>1.1%</td><td>-1.5%</td></tr><tr><td>Fiserv公司FISV</td><td>85%</td><td>$111.79</td><td>$141.27</td><td>26%</td><td>1.6%</td><td>-1.8%</td></tr><tr><td><a href=\"https://laohu8.com/S/MELI\">自由市场</a>公司MELI</td><td>78%</td><td>$1,613.81</td><td>$2,021.37</td><td>25%</td><td>1.4%</td><td>-3.7%</td></tr><tr><td>Netflix公司NFLX</td><td>78%</td><td>$515.41</td><td>$619.67</td><td>20%</td><td>0.7%</td><td>-4.7%</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></tbody></table>在美国上市的中国股票周五遭受重创，你可以从这份名单上的三只股票（百度公司（K3SD.SG）、京东公司）中看到。<a href=\"https://laohu8.com/S/JD\">$（京东）$</a>和网易公司。<a href=\"https://laohu8.com/S/NTES\">$（NTES）$</a>）今年对该集团来说并不是一个好年景。特里萨·波莱蒂解释了原因。</blockquote></p><p></p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Here are Wall Street's favorite big tech stocks as the Nasdaq closes in on another milestone<blockquote>随着纳斯达克接近另一个里程碑，以下是华尔街最受欢迎的大型科技股</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHere are Wall Street's favorite big tech stocks as the Nasdaq closes in on another milestone<blockquote>随着纳斯达克接近另一个里程碑，以下是华尔街最受欢迎的大型科技股</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-07-24 09:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As the Nasdaq Composite Index nears 15,000, analysts see upside for Activision Blizzard, Netflix and Baidu, among others</p><p><blockquote>随着纳斯达克综合指数接近15,000点，分析师认为动视暴雪、Netflix和百度等公司还有上涨空间</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4c007522d36ee30fcaeab059a92a280e\" tg-width=\"700\" tg-height=\"485\" width=\"100%\" height=\"auto\"><span>Some 88% of analysts rate Activision Blizzard \"buy,\" and their consensus price target is 27% above the stock's closing price July 23. (Getty Images)</span></p><p><blockquote><p class=\"t-img-caption\"><span>约88%的分析师将动视暴雪评级为“买入”，他们的一致目标价比该股7月23日的收盘价高出27%。（盖蒂图片社）</span></p></blockquote></p><p> All three of the major U.S. stock indexes hit records Friday, and the Nasdaq Composite Index might reach its next milestone -- 15,000 -- next week.</p><p><blockquote>美国三大股指周五均创下历史新高，纳斯达克综合指数下周可能会达到下一个里程碑——15,000点。</blockquote></p><p> Below is a list of stocks whose gains have powered the Nasdaq Composite Index's gains this year, along with another list of analysts' favorite stocks among the Nasdaq-100 Index .</p><p><blockquote>以下是今年以来推动纳斯达克综合指数上涨的股票列表，以及纳斯达克100指数中分析师最喜欢的股票列表。</blockquote></p><p> Here's a summary of Friday's action:</p><p><blockquote>以下是周五行动的摘要：</blockquote></p><p> (Note: All price changes in this article exclude dividends.)</p><p><blockquote>（注：本文中的所有价格变化均不包括股息。）</blockquote></p><p> <b>Nasdaq-100 winners for 2021</b></p><p><blockquote><b>2021年纳斯达克100指数获奖者</b></blockquote></p><p> The Nasdaq-100 Index is made up of the 100 largest non-financial companies by market capitalization in the full Nasdaq Composite Index. It is reconstituted each year in December. Both indexes are weighted by market cap, and the Nasdaq-100's market cap of $17.21 trillion is about 73% of the full index. So most of the full Nasdaq's performance is represented by the Nasdaq-100, which is tracked by the Invesco QQQ Trust <a href=\"https://laohu8.com/S/QQQ\">$(QQQ)$</a>.</p><p><blockquote>纳斯达克100指数由整个纳斯达克综合指数中市值最大的100家非金融公司组成。它在每年12月重组。两个指数均按市值加权，纳斯达克100指数17.21万亿美元的市值约占整个指数的73%。因此，整个纳斯达克的大部分表现都由景顺QQQ信托追踪的纳斯达克100指数代表<a href=\"https://laohu8.com/S/QQQ\">$(QQQ)$</a>.</blockquote></p><p> Here are the 10 stocks among the Nasdaq-100 that have risen the most during 2021 through July 23:</p><p><blockquote>以下是2021年至7月23日期间纳斯达克100指数中涨幅最大的10只股票：</blockquote></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>Price change -- 2021</td>    <td>Price change -- July 23</td>    <td>52-week high</td>    <td>Date of 52-week high</td>    <td>Decline from 52-week high</td>   </tr>   <tr>    <td>Moderna Inc. MRNA</td>    <td>233.9%</td>    <td>7.8%</td>    <td>$349.45</td>    <td>07/23/2021</td>    <td>-0.2%</td>   </tr>   <tr>    <td>Applied Materials Inc. AMAT</td>    <td>60.4%</td>    <td>0.9%</td>    <td>$146.00</td>    <td>04/05/2021</td>    <td>-5.2%</td>   </tr>   <tr>    <td>Alphabet Inc. Class C GOOG</td>    <td>57.3%</td>    <td>3.4%</td>    <td>$2,776.17</td>    <td>07/23/2021</td>    <td>-0.7%</td>   </tr>   <tr>    <td>ASML Holding NV ADR ASML</td>    <td>53.4%</td>    <td>2.5%</td>    <td>$756.78</td>    <td>07/23/2021</td>    <td>-1.1%</td>   </tr>   <tr>    <td>Alphabet Inc. Class A GOOGL</td>    <td>51.8%</td>    <td>3.6%</td>    <td>$2,667.98</td>    <td>07/23/2021</td>    <td>-0.3%</td>   </tr>   <tr>    <td>Nvidia Corp.</td>    <td>49.8%</td>    <td>-0.2%</td>    <td>$208.75</td>    <td>07/07/2021</td>    <td>-6.3%</td>   </tr>   <tr>    <td>EBay Inc. EBAY</td>    <td>46.3%</td>    <td>2.1%</td>    <td>$73.77</td>    <td>07/23/2021</td>    <td>-0.3%</td>   </tr>   <tr>    <td>Intuit Inc. INTU</td>    <td>39.1%</td>    <td>1.4%</td>    <td>$532.33</td>    <td>07/23/2021</td>    <td>-0.7%</td>   </tr>   <tr>    <td>Idexx Laboratories Inc. IDXX</td>    <td>38.8%</td>    <td>1.6%</td>    <td>$696.35</td>    <td>07/23/2021</td>    <td>-0.4%</td>   </tr>   <tr>    <td>DocuSign Inc. DOCU</td>    <td>38.8%</td>    <td>0.2%</td>    <td>$310.51</td>    <td>07/22/2021</td>    <td>-0.6%</td>   </tr>   <tr>    <td>CDW Corp. CDW</td>    <td>37.3%</td>    <td>2.0%</td>    <td>$184.58</td>    <td>04/16/2021</td>    <td>-2.0%</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> Actually, there are 11 stocks on the list because the index includes Alphabet Inc.'s Class C <a href=\"https://laohu8.com/S/GOOGL\">$(GOOGL)$</a> and Class A (GOOGL) shares.</p><p><blockquote><table><tbody><tr><td>公司</td><td>价格变动--2021</td><td>价格变化——7月23日</td><td>52周高点</td><td>52周高点日期</td><td>较52周高点下跌</td></tr><tr><td>莫德纳公司MRNA</td><td>233.9%</td><td>7.8%</td><td>$349.45</td><td>07/23/2021</td><td>-0.2%</td></tr><tr><td>应用材料公司AMAT</td><td>60.4%</td><td>0.9%</td><td>$146.00</td><td>04/05/2021</td><td>-5.2%</td></tr><tr><td>Alphabet公司C类GOOG</td><td>57.3%</td><td>3.4%</td><td>$2,776.17</td><td>07/23/2021</td><td>-0.7%</td></tr><tr><td>ASML控股NV ADR ASML</td><td>53.4%</td><td>2.5%</td><td>$756.78</td><td>07/23/2021</td><td>-1.1%</td></tr><tr><td>Alphabet A级GOOGL</td><td>51.8%</td><td>3.6%</td><td>$2,667.98</td><td>07/23/2021</td><td>-0.3%</td></tr><tr><td>英伟达公司。</td><td>49.8%</td><td>-0.2%</td><td>$208.75</td><td>07/07/2021</td><td>-6.3%</td></tr><tr><td>EBay公司EBay</td><td>46.3%</td><td>2.1%</td><td>$73.77</td><td>07/23/2021</td><td>-0.3%</td></tr><tr><td>Intuit公司INTU</td><td>39.1%</td><td>1.4%</td><td>$532.33</td><td>07/23/2021</td><td>-0.7%</td></tr><tr><td>Idexx实验室公司IDXX</td><td>38.8%</td><td>1.6%</td><td>$696.35</td><td>07/23/2021</td><td>-0.4%</td></tr><tr><td>DocuSign Inc.DOCU</td><td>38.8%</td><td>0.2%</td><td>$310.51</td><td>07/22/2021</td><td>-0.6%</td></tr><tr><td>CDW公司CDW</td><td>37.3%</td><td>2.0%</td><td>$184.58</td><td>04/16/2021</td><td>-2.0%</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td><td></td></tr></tbody></table>事实上，名单上有11只股票，因为该指数包括Alphabet公司的C类股票<a href=\"https://laohu8.com/S/GOOGL\">$（GOOGL）$</a>和A类（GOOGL）股份。</blockquote></p><p> Seven of those stocks hit 52-week highs July 23.</p><p><blockquote>其中7只股票于7月23日触及52周高点。</blockquote></p><p> <b>Wall Street's favorite stocks in the Nasdaq-100</b></p><p><blockquote><b>纳斯达克100指数中华尔街最喜欢的股票</b></blockquote></p><p> Here are the 10 stocks in the Nasdaq-100 with \"buy\" or equivalent ratings among at least 75% of analysts polled by FactSet, with the most 12-month upside potential implied by consensus price targets:</p><p><blockquote>以下是纳斯达克100指数中至少75%的分析师给予“买入”或同等评级的10只股票，共识价格目标暗示了最大的12个月上涨潜力：</blockquote></p><p></p><p> <table>  <tbody>   <tr>    <td>Company</td>    <td>Share \"buy\" ratings</td>    <td>Closing price -- July 23</td>    <td>Consensus price target</td>    <td>Implied 12-month upside potential</td>    <td>Price change -- July 23</td>    <td>Price change -- 2021</td>   </tr>   <tr>    <td>Baidu Inc. ADR Class A BIDU</td>    <td>86%</td>    <td>$172.66</td>    <td>$311.92</td>    <td>81%</td>    <td>-3.3%</td>    <td>-20.2%</td>   </tr>   <tr>    <td>Micron Technology Inc. MU</td>    <td>88%</td>    <td>$75.94</td>    <td>$121.25</td>    <td>60%</td>    <td>0.5%</td>    <td>1.0%</td>   </tr>   <tr>    <td>JD.com Inc. ADR Class A JD</td>    <td>91%</td>    <td>$72.29</td>    <td>$98.15</td>    <td>36%</td>    <td>-4.8%</td>    <td>-17.8%</td>   </tr>   <tr>    <td>NetEase Inc. ADR</td>    <td>86%</td>    <td>$103.53</td>    <td>$134.54</td>    <td>30%</td>    <td>-8.0%</td>    <td>8.1%</td>   </tr>   <tr>    <td>Vertex Pharmaceuticals Inc. VRTX</td>    <td>78%</td>    <td>$200.50</td>    <td>$259.71</td>    <td>30%</td>    <td>2.3%</td>    <td>-15.2%</td>   </tr>   <tr>    <td>Microchip Technology Inc. MCHP</td>    <td>76%</td>    <td>$139.22</td>    <td>$177.14</td>    <td>27%</td>    <td>0.6%</td>    <td>0.8%</td>   </tr>   <tr>    <td>Activision Blizzard Inc. ATVI</td>    <td>88%</td>    <td>$91.50</td>    <td>$116.09</td>    <td>27%</td>    <td>1.1%</td>    <td>-1.5%</td>   </tr>   <tr>    <td>Fiserv Inc. FISV</td>    <td>85%</td>    <td>$111.79</td>    <td>$141.27</td>    <td>26%</td>    <td>1.6%</td>    <td>-1.8%</td>   </tr>   <tr>    <td><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a> Inc. MELI</td>    <td>78%</td>    <td>$1,613.81</td>    <td>$2,021.37</td>    <td>25%</td>    <td>1.4%</td>    <td>-3.7%</td>   </tr>   <tr>    <td>Netflix Inc. NFLX</td>    <td>78%</td>    <td>$515.41</td>    <td>$619.67</td>    <td>20%</td>    <td>0.7%</td>    <td>-4.7%</td>   </tr>   <tr>    <td>Source: FactSet</td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>    <td></td>   </tr>  </tbody> </table> Chinese stocks listed in the U.S. took a beating Friday, and you can see from the three on this list (Baidu Inc. (K3SD.SG), JD.com Inc. <a href=\"https://laohu8.com/S/JD\">$(JD)$</a> and NetEase Inc. <a href=\"https://laohu8.com/S/NTES\">$(NTES)$</a>) that this hasn't been a good year for the group. Therese Poletti explained why.</p><p><blockquote><table><tbody><tr><td>公司</td><td>分享“买入”评级</td><td>收盘价——7月23日</td><td>共识价格目标</td><td>隐含的12个月上涨潜力</td><td>价格变化——7月23日</td><td>价格变动--2021</td></tr><tr><td>百度ADR A类BIDU</td><td>86%</td><td>$172.66</td><td>$311.92</td><td>81%</td><td>-3.3%</td><td>-20.2%</td></tr><tr><td>美光科技公司MU</td><td>88%</td><td>$75.94</td><td>$121.25</td><td>60%</td><td>0.5%</td><td>1.0%</td></tr><tr><td>京东ADR A类JD</td><td>91%</td><td>$72.29</td><td>$98.15</td><td>36%</td><td>-4.8%</td><td>-17.8%</td></tr><tr><td>网易公司ADR</td><td>86%</td><td>$103.53</td><td>$134.54</td><td>30%</td><td>-8.0%</td><td>8.1%</td></tr><tr><td>Vertex制药公司VRTX</td><td>78%</td><td>$200.50</td><td>$259.71</td><td>30%</td><td>2.3%</td><td>-15.2%</td></tr><tr><td>微芯科技公司MCHP</td><td>76%</td><td>$139.22</td><td>$177.14</td><td>27%</td><td>0.6%</td><td>0.8%</td></tr><tr><td>动视暴雪公司ATVI</td><td>88%</td><td>$91.50</td><td>$116.09</td><td>27%</td><td>1.1%</td><td>-1.5%</td></tr><tr><td>Fiserv公司FISV</td><td>85%</td><td>$111.79</td><td>$141.27</td><td>26%</td><td>1.6%</td><td>-1.8%</td></tr><tr><td><a href=\"https://laohu8.com/S/MELI\">自由市场</a>公司MELI</td><td>78%</td><td>$1,613.81</td><td>$2,021.37</td><td>25%</td><td>1.4%</td><td>-3.7%</td></tr><tr><td>Netflix公司NFLX</td><td>78%</td><td>$515.41</td><td>$619.67</td><td>20%</td><td>0.7%</td><td>-4.7%</td></tr><tr><td>来源：FactSet</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></tbody></table>在美国上市的中国股票周五遭受重创，你可以从这份名单上的三只股票（百度公司（K3SD.SG）、京东公司）中看到。<a href=\"https://laohu8.com/S/JD\">$（京东）$</a>和网易公司。<a href=\"https://laohu8.com/S/NTES\">$（NTES）$</a>）今年对该集团来说并不是一个好年景。特里萨·波莱蒂解释了原因。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/here-are-wall-streets-favorite-big-tech-stocks-as-the-nasdaq-closes-in-on-another-milestone-11627074982?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MU":"美光科技","PSQ":"做空纳斯达克100指数ETF-ProShares",".IXIC":"NASDAQ Composite","NFLX":"奈飞","QQQ":"纳指100ETF","QLD":"2倍做多纳斯达克100指数ETF-ProShares","JD":"京东","BIDU":"百度","QID":"两倍做空纳斯达克指数ETF-ProShares","NDAQ":"纳斯达克OMX交易所","SQQQ":"纳指三倍做空ETF","TQQQ":"纳指三倍做多ETF"},"source_url":"https://www.marketwatch.com/story/here-are-wall-streets-favorite-big-tech-stocks-as-the-nasdaq-closes-in-on-another-milestone-11627074982?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2153388319","content_text":"As the Nasdaq Composite Index nears 15,000, analysts see upside for Activision Blizzard, Netflix and Baidu, among others\nSome 88% of analysts rate Activision Blizzard \"buy,\" and their consensus price target is 27% above the stock's closing price July 23. (Getty Images)\nAll three of the major U.S. stock indexes hit records Friday, and the Nasdaq Composite Index might reach its next milestone -- 15,000 -- next week.\nBelow is a list of stocks whose gains have powered the Nasdaq Composite Index's gains this year, along with another list of analysts' favorite stocks among the Nasdaq-100 Index .\nHere's a summary of Friday's action:\n(Note: All price changes in this article exclude dividends.)\nNasdaq-100 winners for 2021\nThe Nasdaq-100 Index is made up of the 100 largest non-financial companies by market capitalization in the full Nasdaq Composite Index. It is reconstituted each year in December. Both indexes are weighted by market cap, and the Nasdaq-100's market cap of $17.21 trillion is about 73% of the full index. So most of the full Nasdaq's performance is represented by the Nasdaq-100, which is tracked by the Invesco QQQ Trust $(QQQ)$.\nHere are the 10 stocks among the Nasdaq-100 that have risen the most during 2021 through July 23:\n\n\n\nCompany\nPrice change -- 2021\nPrice change -- July 23\n52-week high\nDate of 52-week high\nDecline from 52-week high\n\n\nModerna Inc. MRNA\n233.9%\n7.8%\n$349.45\n07/23/2021\n-0.2%\n\n\nApplied Materials Inc. AMAT\n60.4%\n0.9%\n$146.00\n04/05/2021\n-5.2%\n\n\nAlphabet Inc. Class C GOOG\n57.3%\n3.4%\n$2,776.17\n07/23/2021\n-0.7%\n\n\nASML Holding NV ADR ASML\n53.4%\n2.5%\n$756.78\n07/23/2021\n-1.1%\n\n\nAlphabet Inc. Class A GOOGL\n51.8%\n3.6%\n$2,667.98\n07/23/2021\n-0.3%\n\n\nNvidia Corp.\n49.8%\n-0.2%\n$208.75\n07/07/2021\n-6.3%\n\n\nEBay Inc. EBAY\n46.3%\n2.1%\n$73.77\n07/23/2021\n-0.3%\n\n\nIntuit Inc. INTU\n39.1%\n1.4%\n$532.33\n07/23/2021\n-0.7%\n\n\nIdexx Laboratories Inc. IDXX\n38.8%\n1.6%\n$696.35\n07/23/2021\n-0.4%\n\n\nDocuSign Inc. DOCU\n38.8%\n0.2%\n$310.51\n07/22/2021\n-0.6%\n\n\nCDW Corp. CDW\n37.3%\n2.0%\n$184.58\n04/16/2021\n-2.0%\n\n\nSource: FactSet\n\n\n\n\n\n\n\n\nActually, there are 11 stocks on the list because the index includes Alphabet Inc.'s Class C $(GOOGL)$ and Class A (GOOGL) shares.\nSeven of those stocks hit 52-week highs July 23.\nWall Street's favorite stocks in the Nasdaq-100\nHere are the 10 stocks in the Nasdaq-100 with \"buy\" or equivalent ratings among at least 75% of analysts polled by FactSet, with the most 12-month upside potential implied by consensus price targets:\n\n\n\nCompany\nShare \"buy\" ratings\nClosing price -- July 23\nConsensus price target\nImplied 12-month upside potential\nPrice change -- July 23\nPrice change -- 2021\n\n\nBaidu Inc. ADR Class A BIDU\n86%\n$172.66\n$311.92\n81%\n-3.3%\n-20.2%\n\n\nMicron Technology Inc. MU\n88%\n$75.94\n$121.25\n60%\n0.5%\n1.0%\n\n\nJD.com Inc. ADR Class A JD\n91%\n$72.29\n$98.15\n36%\n-4.8%\n-17.8%\n\n\nNetEase Inc. ADR\n86%\n$103.53\n$134.54\n30%\n-8.0%\n8.1%\n\n\nVertex Pharmaceuticals Inc. VRTX\n78%\n$200.50\n$259.71\n30%\n2.3%\n-15.2%\n\n\nMicrochip Technology Inc. MCHP\n76%\n$139.22\n$177.14\n27%\n0.6%\n0.8%\n\n\nActivision Blizzard Inc. ATVI\n88%\n$91.50\n$116.09\n27%\n1.1%\n-1.5%\n\n\nFiserv Inc. FISV\n85%\n$111.79\n$141.27\n26%\n1.6%\n-1.8%\n\n\nMercadoLibre Inc. MELI\n78%\n$1,613.81\n$2,021.37\n25%\n1.4%\n-3.7%\n\n\nNetflix Inc. NFLX\n78%\n$515.41\n$619.67\n20%\n0.7%\n-4.7%\n\n\nSource: FactSet\n\n\n\n\n\n\n\n\n\nChinese stocks listed in the U.S. took a beating Friday, and you can see from the three on this list (Baidu Inc. (K3SD.SG), JD.com Inc. $(JD)$ and NetEase Inc. $(NTES)$) that this hasn't been a good year for the group. Therese Poletti explained why.","news_type":1,"symbols_score_info":{"NDAQ":0.9,"QQQ":0.9,".IXIC":0.9,"NFLX":0.9,"PSQ":0.9,"QLD":0.9,"JD":0.9,"MU":0.9,"SQQQ":0.9,"TQQQ":0.9,"MNQmain":0.9,"BIDU":0.9,"NQmain":0.9,"QID":0.9}},"isVote":1,"tweetType":1,"viewCount":481,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147035522,"gmtCreate":1626318833266,"gmtModify":1633927898119,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147035522","repostId":"1158634871","repostType":4,"isVote":1,"tweetType":1,"viewCount":426,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":802290906,"gmtCreate":1627780684305,"gmtModify":1631890358459,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/802290906","repostId":"2156166889","repostType":4,"isVote":1,"tweetType":1,"viewCount":1301,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147755665,"gmtCreate":1626392929457,"gmtModify":1633927250659,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/147755665","repostId":"1189934203","repostType":4,"repost":{"id":"1189934203","kind":"news","pubTimestamp":1626387468,"share":"https://www.laohu8.com/m/news/1189934203?lang=zh_CN&edition=full","pubTime":"2021-07-16 06:17","market":"us","language":"en","title":"Why NVIDIA Stock Just Dropped 4%<blockquote>为什么NVIDIA股价刚刚下跌4%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1189934203","media":"Motley Fool","summary":"Mizuho says NVIDIA is worth $900. Investors disagree.","content":"<p>  Mizuho says NVIDIA is worth $900. Investors disagree.  <b>What happened</b></p><p><blockquote>瑞穗表示英伟达价值900美元。投资者不同意。<b>发生了什么</b></blockquote></p><p> Shares of graphics (and crypto-mining) chipmaker&nbsp;<b>NVIDIA</b>(NASDAQ:NVDA)tumbled for a third straight day Thursday, falling 4% in 1:25 p.m. EDT trading despite getting a boost in its price target from Wall Street bank Mizuho.</p><p><blockquote>图形（和加密货币挖矿）芯片制造商的股票<b>英伟达</b>（纳斯达克：NVDA）周四连续第三天下跌，截至下午1点25分仍下跌4%。尽管瑞穗银行提高了其目标价。</blockquote></p><p> And you can probably blame thecryptocurrenciesfor that.</p><p><blockquote>你或许可以将此归咎于加密货币。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> AsStreetInsider.comreports this morning, Mizuho Securities reiterated its \"buy\" rating on NVIDIA and upped the price target on thesemiconductor stockto $900 a share.</p><p><blockquote>据StreetInsider.com今天上午报道，瑞穗证券重申了对英伟达的“买入”评级，并将该半导体股票的目标价上调至每股900美元。</blockquote></p><p> Now with NVIDIA trading below $800 for the past two days, you might think that would be good news and would help to lift the stock, especially with Mizuho commenting that demand for both gaming consoles and gaming PCs looks \"strong\" in the second half of fiscal year 2021. The problem is, one of the biggest factors supporting NVIDIA's business (and its stock price) in recent years has been the demand for its chips for use in machines mining cryptocurrencies such as<b>bitcoin</b>(CRYPTO:BTC). And in case you haven't noticed, cryptocurrency priceshave been in a bit of a rutthe past couple of months.</p><p><blockquote>现在，英伟达过去两天的交易价格低于800美元，您可能会认为这将是个好消息，有助于提振该股，特别是瑞穗评论称，下半年对游戏机和游戏PC的需求看起来“强劲”2021财年。问题是，近年来支撑英伟达业务（及其股价）的最大因素之一是对其芯片的需求，这些芯片用于挖掘加密货币的机器，例如<b>比特币</b>（密码：BTC）。如果您没有注意到，加密货币的价格在过去几个月里一直处于停滞状态。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> To its credit, Mizuho addresses this objection in its note, acknowledging the slump in prices of both bitcoin and<b>Ethereum</b>(CRYPTO:ETH)and pointing out that a recent shift from requiring \"proof of work\" to \"proof of stake\" to generate Ether coins \"makes GPUs less necessary for Ethereum crypto mining\" -- potentially diminishing demand for NVIDIA's chips.</p><p><blockquote>值得称赞的是，瑞穗在其报告中解决了这一反对意见，承认比特币和<b>以太币</b>（CRYPTO：ETH）并指出，最近从要求“工作证明”到“权益证明”来生成以太币的转变“使得GPU对于以太币加密挖矿的必要性降低”——这可能会减少对英伟达芯片的需求。</blockquote></p><p> Nevertheless, citing a \"rebound\" in Chinese demand for chips and the trends in gaming demand as well, the banker is increasing its revenue and earnings predictions for NVIDIA in each of the upcoming second and third fiscal quarters, and for all of fiscal 2022 and 2023 as well. Mizuho now sees NVIDIA earning as much as $16.12 per share this year and $17.70 next year.</p><p><blockquote>尽管如此，这位银行家以中国对芯片需求的“反弹”以及游戏需求的趋势为由，提高了英伟达在即将到来的第二和第三财季以及2022财年和2023财年的收入和盈利预测。瑞穗现在预计英伟达今年的每股收益将高达16.12美元，明年将达到17.70美元。</blockquote></p><p> Be that as it may, and even taking Mizuho's projections at face value, at a projected valuation of nearly 43 times forward earnings and a near-term earnings growth rate of 10%, I think I'm going to have to side with the skeptics on this one.NVIDIA stock looks overpriced, and the investors selling it today ... are making the right call.</p><p><blockquote>尽管如此，即使从表面上看瑞穗的预测，预计估值为预期市盈率近43倍，近期盈利增长率为10%，我认为我将不得不站在怀疑者一边。英伟达股票看起来定价过高，今天出售它的投资者……正在做出正确的看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0d07bf0013f24819eee6e7d59879d3c9\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why NVIDIA Stock Just Dropped 4%<blockquote>为什么NVIDIA股价刚刚下跌4%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy NVIDIA Stock Just Dropped 4%<blockquote>为什么NVIDIA股价刚刚下跌4%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-07-16 06:17</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  Mizuho says NVIDIA is worth $900. Investors disagree.  <b>What happened</b></p><p><blockquote>瑞穗表示英伟达价值900美元。投资者不同意。<b>发生了什么</b></blockquote></p><p> Shares of graphics (and crypto-mining) chipmaker&nbsp;<b>NVIDIA</b>(NASDAQ:NVDA)tumbled for a third straight day Thursday, falling 4% in 1:25 p.m. EDT trading despite getting a boost in its price target from Wall Street bank Mizuho.</p><p><blockquote>图形（和加密货币挖矿）芯片制造商的股票<b>英伟达</b>（纳斯达克：NVDA）周四连续第三天下跌，截至下午1点25分仍下跌4%。尽管瑞穗银行提高了其目标价。</blockquote></p><p> And you can probably blame thecryptocurrenciesfor that.</p><p><blockquote>你或许可以将此归咎于加密货币。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> AsStreetInsider.comreports this morning, Mizuho Securities reiterated its \"buy\" rating on NVIDIA and upped the price target on thesemiconductor stockto $900 a share.</p><p><blockquote>据StreetInsider.com今天上午报道，瑞穗证券重申了对英伟达的“买入”评级，并将该半导体股票的目标价上调至每股900美元。</blockquote></p><p> Now with NVIDIA trading below $800 for the past two days, you might think that would be good news and would help to lift the stock, especially with Mizuho commenting that demand for both gaming consoles and gaming PCs looks \"strong\" in the second half of fiscal year 2021. The problem is, one of the biggest factors supporting NVIDIA's business (and its stock price) in recent years has been the demand for its chips for use in machines mining cryptocurrencies such as<b>bitcoin</b>(CRYPTO:BTC). And in case you haven't noticed, cryptocurrency priceshave been in a bit of a rutthe past couple of months.</p><p><blockquote>现在，英伟达过去两天的交易价格低于800美元，您可能会认为这将是个好消息，有助于提振该股，特别是瑞穗评论称，下半年对游戏机和游戏PC的需求看起来“强劲”2021财年。问题是，近年来支撑英伟达业务（及其股价）的最大因素之一是对其芯片的需求，这些芯片用于挖掘加密货币的机器，例如<b>比特币</b>（密码：BTC）。如果您没有注意到，加密货币的价格在过去几个月里一直处于停滞状态。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> To its credit, Mizuho addresses this objection in its note, acknowledging the slump in prices of both bitcoin and<b>Ethereum</b>(CRYPTO:ETH)and pointing out that a recent shift from requiring \"proof of work\" to \"proof of stake\" to generate Ether coins \"makes GPUs less necessary for Ethereum crypto mining\" -- potentially diminishing demand for NVIDIA's chips.</p><p><blockquote>值得称赞的是，瑞穗在其报告中解决了这一反对意见，承认比特币和<b>以太币</b>（CRYPTO：ETH）并指出，最近从要求“工作证明”到“权益证明”来生成以太币的转变“使得GPU对于以太币加密挖矿的必要性降低”——这可能会减少对英伟达芯片的需求。</blockquote></p><p> Nevertheless, citing a \"rebound\" in Chinese demand for chips and the trends in gaming demand as well, the banker is increasing its revenue and earnings predictions for NVIDIA in each of the upcoming second and third fiscal quarters, and for all of fiscal 2022 and 2023 as well. Mizuho now sees NVIDIA earning as much as $16.12 per share this year and $17.70 next year.</p><p><blockquote>尽管如此，这位银行家以中国对芯片需求的“反弹”以及游戏需求的趋势为由，提高了英伟达在即将到来的第二和第三财季以及2022财年和2023财年的收入和盈利预测。瑞穗现在预计英伟达今年的每股收益将高达16.12美元，明年将达到17.70美元。</blockquote></p><p> Be that as it may, and even taking Mizuho's projections at face value, at a projected valuation of nearly 43 times forward earnings and a near-term earnings growth rate of 10%, I think I'm going to have to side with the skeptics on this one.NVIDIA stock looks overpriced, and the investors selling it today ... are making the right call.</p><p><blockquote>尽管如此，即使从表面上看瑞穗的预测，预计估值为预期市盈率近43倍，近期盈利增长率为10%，我认为我将不得不站在怀疑者一边。英伟达股票看起来定价过高，今天出售它的投资者……正在做出正确的看涨期权。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0d07bf0013f24819eee6e7d59879d3c9\" tg-width=\"840\" tg-height=\"470\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/07/15/why-nvidia-stock-just-dropped-4/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达"},"source_url":"https://www.fool.com/investing/2021/07/15/why-nvidia-stock-just-dropped-4/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1189934203","content_text":"Mizuho says NVIDIA is worth $900. Investors disagree.\n\nWhat happened\nShares of graphics (and crypto-mining) chipmaker NVIDIA(NASDAQ:NVDA)tumbled for a third straight day Thursday, falling 4% in 1:25 p.m. EDT trading despite getting a boost in its price target from Wall Street bank Mizuho.\nAnd you can probably blame thecryptocurrenciesfor that.\nSo what\nAsStreetInsider.comreports this morning, Mizuho Securities reiterated its \"buy\" rating on NVIDIA and upped the price target on thesemiconductor stockto $900 a share.\nNow with NVIDIA trading below $800 for the past two days, you might think that would be good news and would help to lift the stock, especially with Mizuho commenting that demand for both gaming consoles and gaming PCs looks \"strong\" in the second half of fiscal year 2021. The problem is, one of the biggest factors supporting NVIDIA's business (and its stock price) in recent years has been the demand for its chips for use in machines mining cryptocurrencies such asbitcoin(CRYPTO:BTC). And in case you haven't noticed, cryptocurrency priceshave been in a bit of a rutthe past couple of months.\nNow what\nTo its credit, Mizuho addresses this objection in its note, acknowledging the slump in prices of both bitcoin andEthereum(CRYPTO:ETH)and pointing out that a recent shift from requiring \"proof of work\" to \"proof of stake\" to generate Ether coins \"makes GPUs less necessary for Ethereum crypto mining\" -- potentially diminishing demand for NVIDIA's chips.\nNevertheless, citing a \"rebound\" in Chinese demand for chips and the trends in gaming demand as well, the banker is increasing its revenue and earnings predictions for NVIDIA in each of the upcoming second and third fiscal quarters, and for all of fiscal 2022 and 2023 as well. Mizuho now sees NVIDIA earning as much as $16.12 per share this year and $17.70 next year.\nBe that as it may, and even taking Mizuho's projections at face value, at a projected valuation of nearly 43 times forward earnings and a near-term earnings growth rate of 10%, I think I'm going to have to side with the skeptics on this one.NVIDIA stock looks overpriced, and the investors selling it today ... are making the right call.","news_type":1,"symbols_score_info":{"NVDA":0.9}},"isVote":1,"tweetType":1,"viewCount":354,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164428135,"gmtCreate":1624234041027,"gmtModify":1634009258369,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Great deal.","listText":"Great deal.","text":"Great deal.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/164428135","repostId":"1170361434","repostType":4,"repost":{"id":"1170361434","kind":"news","pubTimestamp":1624232134,"share":"https://www.laohu8.com/m/news/1170361434?lang=zh_CN&edition=full","pubTime":"2021-06-21 07:35","market":"us","language":"en","title":"Ackman’s SPAC to Buy 10% of Vivendi’s Universal Music for $4 Billion<blockquote>阿克曼的SPAC将以40亿美元收购维旺迪环球音乐10%的股份</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170361434","media":"Bloomberg","summary":"(Bloomberg) -- A blank-check firm backed by billionaire Bill Ackman agreed to acquire 10% of Univers","content":"<p>(Bloomberg) -- A blank-check firm backed by billionaire Bill Ackman agreed to acquire 10% of Universal Music Group for about $4 billion from French media company Vivendi SE.</p><p><blockquote>（彭博）-亿万富翁比尔·阿克曼支持的一家空白支票公司同意以约40亿美元的价格从法国媒体公司维旺迪SE手中收购环球音乐集团10%的股份。</blockquote></p><p> Ackman’s special purpose acquisition company, called Pershing Square Tontine Holdings Ltd., said the transaction would value the home of Taylor Swift, Drake and Billie Eilish at 35 billion euros ($42 billion) including debt. The companies reached an agreement despite drawing pushback from Vivendi’s shareholders and disappointment from investors of Pershing Square Tontine.</p><p><blockquote>阿克曼的特殊目的收购公司Pershing Square Tontine Holdings Ltd.表示，这笔交易将使泰勒·斯威夫特、德雷克和比莉·埃利什的住宅估值达到350亿欧元（420亿美元），包括债务。尽管遭到维旺迪股东的反对和潘兴广场通廷投资者的失望，两家公司还是达成了协议。</blockquote></p><p> SPACs typically pursue mergers with closely held companies, but after this deal, Pershing Square Tontine will remain listed with about $1.5 billion in cash and access to an additional $1.4 billion with the Pershing Square Funds. It will continue to search for a new business combination, according to its statement on Sunday.</p><p><blockquote>SPAC通常会寻求与少数人持股的公司合并，但在这笔交易之后，Pershing Square Tontine将继续上市，拥有约15亿美元现金，并通过Pershing Square基金获得额外的14亿美元。根据周日的声明，该公司将继续寻找新的业务合并。</blockquote></p><p> Pershing Square Tontine said it intends to distribute the Universal Music shares to its investors after the music business’s planned public listing in Amsterdam later this year. Investors will also get the right to acquire a stake in a new vehicle known as a special purpose acquisition rights company, or SPARC.</p><p><blockquote>Pershing Square Tontine表示，打算在音乐业务计划今年晚些时候在阿姆斯特丹公开上市后将环球音乐股票分配给投资者。投资者还将有权收购一种名为特殊目的收购权公司（SPARC）的新工具的股份。</blockquote></p><p> As the music industry rebounds from a decadelong slump, Vivendi is cashing in on a boom in subscription music streaming that has inflated the value of its back catalog and a roster of stars including Swift, Drake, U2 and Post Malone. The deal would leave Universal Music with an investment base across the U.S., Europe and Asia. In 2019, a consortium led by China’s Tencent Holdings Ltd. also agreed to buy a stake in Universal Music.</p><p><blockquote>随着音乐行业从长达十年的低迷中反弹，维旺迪正在从订阅音乐流媒体的繁荣中获利，这种繁荣抬高了其旧目录以及包括斯威夫特、德雷克、U2和波斯特·马龙在内的明星名单的价值。这笔交易将使环球音乐的投资基础遍布美国、欧洲和亚洲。2019年，由腾讯控股控股有限公司牵头的财团也同意购买环球音乐的股份。</blockquote></p><p> “After the 20% equity stake acquired by the Consortium led by the Tencent group, the arrival of major American investors provides further evidence of UMG’s global success and attractiveness,” Vivendi said in a separate statement Sunday.</p><p><blockquote>维旺迪周日在另一份声明中表示：“在腾讯控股集团牵头的财团收购20%股权后，美国主要投资者的到来进一步证明了UMG在全球的成功和吸引力。”</blockquote></p><p> The transaction is set to close in the coming weeks, and at the latest by Sept. 15, Vivendi said.</p><p><blockquote>维旺迪表示，该交易将在未来几周内完成，最迟在9月15日完成。</blockquote></p><p> Perella Weinberg Partners advised the board of directors of Pershing Square Tontine.</p><p><blockquote>Perella Weinberg Partners为潘兴广场Tontine的董事会提供咨询服务。</blockquote></p><p></p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ackman’s SPAC to Buy 10% of Vivendi’s Universal Music for $4 Billion<blockquote>阿克曼的SPAC将以40亿美元收购维旺迪环球音乐10%的股份</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\">\nAckman’s SPAC to Buy 10% of Vivendi’s Universal Music for $4 Billion<blockquote>阿克曼的SPAC将以40亿美元收购维旺迪环球音乐10%的股份</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-06-21 07:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- A blank-check firm backed by billionaire Bill Ackman agreed to acquire 10% of Universal Music Group for about $4 billion from French media company Vivendi SE.</p><p><blockquote>（彭博）-亿万富翁比尔·阿克曼支持的一家空白支票公司同意以约40亿美元的价格从法国媒体公司维旺迪SE手中收购环球音乐集团10%的股份。</blockquote></p><p> Ackman’s special purpose acquisition company, called Pershing Square Tontine Holdings Ltd., said the transaction would value the home of Taylor Swift, Drake and Billie Eilish at 35 billion euros ($42 billion) including debt. The companies reached an agreement despite drawing pushback from Vivendi’s shareholders and disappointment from investors of Pershing Square Tontine.</p><p><blockquote>阿克曼的特殊目的收购公司Pershing Square Tontine Holdings Ltd.表示，这笔交易将使泰勒·斯威夫特、德雷克和比莉·埃利什的住宅估值达到350亿欧元（420亿美元），包括债务。尽管遭到维旺迪股东的反对和潘兴广场通廷投资者的失望，两家公司还是达成了协议。</blockquote></p><p> SPACs typically pursue mergers with closely held companies, but after this deal, Pershing Square Tontine will remain listed with about $1.5 billion in cash and access to an additional $1.4 billion with the Pershing Square Funds. It will continue to search for a new business combination, according to its statement on Sunday.</p><p><blockquote>SPAC通常会寻求与少数人持股的公司合并，但在这笔交易之后，Pershing Square Tontine将继续上市，拥有约15亿美元现金，并通过Pershing Square基金获得额外的14亿美元。根据周日的声明，该公司将继续寻找新的业务合并。</blockquote></p><p> Pershing Square Tontine said it intends to distribute the Universal Music shares to its investors after the music business’s planned public listing in Amsterdam later this year. Investors will also get the right to acquire a stake in a new vehicle known as a special purpose acquisition rights company, or SPARC.</p><p><blockquote>Pershing Square Tontine表示，打算在音乐业务计划今年晚些时候在阿姆斯特丹公开上市后将环球音乐股票分配给投资者。投资者还将有权收购一种名为特殊目的收购权公司（SPARC）的新工具的股份。</blockquote></p><p> As the music industry rebounds from a decadelong slump, Vivendi is cashing in on a boom in subscription music streaming that has inflated the value of its back catalog and a roster of stars including Swift, Drake, U2 and Post Malone. The deal would leave Universal Music with an investment base across the U.S., Europe and Asia. In 2019, a consortium led by China’s Tencent Holdings Ltd. also agreed to buy a stake in Universal Music.</p><p><blockquote>随着音乐行业从长达十年的低迷中反弹，维旺迪正在从订阅音乐流媒体的繁荣中获利，这种繁荣抬高了其旧目录以及包括斯威夫特、德雷克、U2和波斯特·马龙在内的明星名单的价值。这笔交易将使环球音乐的投资基础遍布美国、欧洲和亚洲。2019年，由腾讯控股控股有限公司牵头的财团也同意购买环球音乐的股份。</blockquote></p><p> “After the 20% equity stake acquired by the Consortium led by the Tencent group, the arrival of major American investors provides further evidence of UMG’s global success and attractiveness,” Vivendi said in a separate statement Sunday.</p><p><blockquote>维旺迪周日在另一份声明中表示：“在腾讯控股集团牵头的财团收购20%股权后，美国主要投资者的到来进一步证明了UMG在全球的成功和吸引力。”</blockquote></p><p> The transaction is set to close in the coming weeks, and at the latest by Sept. 15, Vivendi said.</p><p><blockquote>维旺迪表示，该交易将在未来几周内完成，最迟在9月15日完成。</blockquote></p><p> Perella Weinberg Partners advised the board of directors of Pershing Square Tontine.</p><p><blockquote>Perella Weinberg Partners为潘兴广场Tontine的董事会提供咨询服务。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/ackman-spac-buy-10-vivendi-181553324.html\">Bloomberg</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":{"PSTH":"Pershing Square Tontine Holdings"},"source_url":"https://finance.yahoo.com/news/ackman-spac-buy-10-vivendi-181553324.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170361434","content_text":"(Bloomberg) -- A blank-check firm backed by billionaire Bill Ackman agreed to acquire 10% of Universal Music Group for about $4 billion from French media company Vivendi SE.\nAckman’s special purpose acquisition company, called Pershing Square Tontine Holdings Ltd., said the transaction would value the home of Taylor Swift, Drake and Billie Eilish at 35 billion euros ($42 billion) including debt. The companies reached an agreement despite drawing pushback from Vivendi’s shareholders and disappointment from investors of Pershing Square Tontine.\nSPACs typically pursue mergers with closely held companies, but after this deal, Pershing Square Tontine will remain listed with about $1.5 billion in cash and access to an additional $1.4 billion with the Pershing Square Funds. It will continue to search for a new business combination, according to its statement on Sunday.\nPershing Square Tontine said it intends to distribute the Universal Music shares to its investors after the music business’s planned public listing in Amsterdam later this year. Investors will also get the right to acquire a stake in a new vehicle known as a special purpose acquisition rights company, or SPARC.\nAs the music industry rebounds from a decadelong slump, Vivendi is cashing in on a boom in subscription music streaming that has inflated the value of its back catalog and a roster of stars including Swift, Drake, U2 and Post Malone. The deal would leave Universal Music with an investment base across the U.S., Europe and Asia. In 2019, a consortium led by China’s Tencent Holdings Ltd. also agreed to buy a stake in Universal Music.\n“After the 20% equity stake acquired by the Consortium led by the Tencent group, the arrival of major American investors provides further evidence of UMG’s global success and attractiveness,” Vivendi said in a separate statement Sunday.\nThe transaction is set to close in the coming weeks, and at the latest by Sept. 15, Vivendi said.\nPerella Weinberg Partners advised the board of directors of Pershing Square Tontine.","news_type":1,"symbols_score_info":{"PSTH":0.9}},"isVote":1,"tweetType":1,"viewCount":323,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181934445,"gmtCreate":1623370053687,"gmtModify":1634034155174,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/181934445","repostId":"1184070773","repostType":4,"isVote":1,"tweetType":1,"viewCount":486,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136857018,"gmtCreate":1622008815434,"gmtModify":1634184697981,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Congrats","listText":"Congrats","text":"Congrats","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/136857018","repostId":"1129186705","repostType":4,"repost":{"id":"1129186705","kind":"news","pubTimestamp":1622001447,"share":"https://www.laohu8.com/m/news/1129186705?lang=zh_CN&edition=full","pubTime":"2021-05-26 11:57","market":"us","language":"en","title":"In 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来倒闭的最大银行的首席执行官。他担心另一场危机</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129186705","media":"cnn","summary":"New York The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.Kerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.\"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not ","content":"<p>New York (CNN Business)The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.</p><p><blockquote>纽约（CNN商业）13年前，银行界几乎崩溃了。华盛顿互惠银行的前首席执行官担心另一个泡沫正在酝酿。</blockquote></p><p> Kerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.</p><p><blockquote>克里·基林格(Kerry Killinger)于1990年被任命为WaMu首席执行官，并于2008年9月被解雇——就在该银行因越来越多的抵押贷款出现不良而倒闭的几周前。</blockquote></p><p> WaMu was one of several top financial firms to collapse during the financial crisis last decade, but the giant savings and loan with more than $300 billion in assets still ranks as the biggest-ever bank failure. WaMu was seized by regulators in September 2008 and sold to JPMorgan Chase (JPM) for a fire-sale price of $1.9 billion.</p><p><blockquote>WaMu是过去十年金融危机期间倒闭的几家顶级金融公司之一，但这家资产超过3000亿美元的储蓄和贷款巨头仍然是有史以来最大的银行倒闭事件。WaMu于2008年9月被监管机构查封，并以19亿美元的贱卖价格出售给摩根大通(JPM)。</blockquote></p><p> Killinger spoke to CNN Business about the similarities and differences between now and 13 years ago.</p><p><blockquote>Killinger向CNN Business讲述了现在与13年前的异同。</blockquote></p><p> <b>The good news</b></p><p><blockquote><b>好消息是</b></blockquote></p><p> The Global Financial Crisis led to a wave of new federal rules that were designed to strengthen the balance sheets of top banks and ensure that another catastrophe like 2008 could never happen again.</p><p><blockquote>全球金融危机导致了一波新的联邦规则，旨在加强顶级银行的资产负债表，并确保类似2008年的灾难永远不会再次发生。</blockquote></p><p> The good news is that Killinger thinks JPMorgan Chase and other \"too big to fail banks\" are in much better shape now after laws like Dodd-Frank and the Volcker Rule were put into place in the wake of the financial crisis to make big banks safer.</p><p><blockquote>好消息是，基林格认为，在金融危机后实施多德弗兰克法案和沃尔克规则等法律以使大银行更加安全之后，摩根大通和其他“太大而不能倒的银行”现在的状况要好得多。</blockquote></p><p> That group of institutions also includes Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS), as well as others that received government bailouts in 2008.</p><p><blockquote>这组机构还包括美国银行(BAC)、花旗集团(C)、富国银行(WFC)、高盛(GS)和摩根士丹利(MS)，以及其他在2008年接受政府救助的机构。</blockquote></p><p> \"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not too concerned there.\"</p><p><blockquote>“受监管的银行现在确实拥有更加集中的市场份额，因此他们必须更加小心，”基林格说。“但该行业的健康状况良好，盈利良好，监管也很有力。我对此并不太担心。”</blockquote></p><p> Subprime lending, the practice of giving mortgages to people with less-than-worthy credit histories, isn't nearly as prevalent as it was during the last housing boom. But Killinger is worried about bubbles in many other parts of the economy that threaten the stability of the markets.</p><p><blockquote>次级贷款，即向信用记录不佳的人提供抵押贷款的做法，已经不像上次房地产繁荣时期那样普遍了。但基林格担心许多其他经济领域的泡沫会威胁到市场的稳定。</blockquote></p><p> <b>Too big to fail 2.0?</b></p><p><blockquote><b>大到不能倒2.0？</b></blockquote></p><p> Although housing prices have surged again, Killinger is more nervous about the fact that 0% interest rates and big bond purchases by the Federal Reserve have sparked a broader mania in other assets, including cryptocurrencies and non-fungible tokens (NFTs), meme stocks, blank check SPAC mergers and exotic exchange-traded funds.</p><p><blockquote>尽管房价再次飙升，但Killinger更紧张的是，0%的利率和美联储的大规模债券购买引发了其他资产更广泛的狂热，包括加密货币和不可替代代币（NFT）、模因股票、空白支票SPAC合并和异国情调的交易所交易基金。</blockquote></p><p> \"The bubbles today are broader and deeper in a variety of categories, not just housing,\" Killinger said. \"The Fed's policy of low rates and massive asset purchases worked well to get out of the downturn, but when you keep extending it you can cause unintended consequences.\"</p><p><blockquote>“如今的泡沫在各个类别中都更加广泛和深入，而不仅仅是房地产，”基林格说。“美联储的低利率和大规模资产购买政策很好地摆脱了经济低迷，但当你继续延长政策时，可能会造成意想不到的后果。”</blockquote></p><p> \"The economy continues to improve. It's time for the Fed to pull in the reins on stimulus and allow interest rates to rise,\" he added.</p><p><blockquote>“经济继续改善。美联储是时候收紧刺激政策并允许利率上升了，”他补充道。</blockquote></p><p> Killinger and his wife Linda, a former vice chair of the Federal Home Loan Bank of Des Moines, have written a book about the 2008 meltdown called \"Nothing Is Too Big to Fail: How the Last Financial Crisis Informs Today.\"</p><p><blockquote>基林格和他的妻子琳达（得梅因联邦住房贷款银行前副主席）写了一本关于2008年金融危机的书，名为《没有什么大到不能倒：上次金融危机对今天的影响》。</blockquote></p><p> Linda Killinger told CNN Business she's concerned about the rise of of financial tech companies, hedge funds. private equity firms and other so-called shadow banks that face little to no regulation in Washington.</p><p><blockquote>琳达·基林格(Linda Killinger)告诉CNN Business，她对金融科技公司和对冲基金的崛起感到担忧。私人股本公司和其他所谓的影子银行在华盛顿几乎没有受到监管。</blockquote></p><p> \"The non-bank system is a big part of the problem. And there are still a lot of loans being done by non-regulated banks such as online banks and many private companies,\" she said.</p><p><blockquote>“非银行系统是问题的一个重要部分。而且仍然有很多贷款是由不受监管的银行如网上银行和许多私营公司提供的，”她说。</blockquote></p><p> <b>Large financial firms may be embracing too much risk again</b></p><p><blockquote><b>大型金融公司可能再次承担过多风险</b></blockquote></p><p> At least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.</p><p><blockquote>至少有一位著名的参议员担心，就像杀手一样，一些金融公司再次变得过于笨重。</blockquote></p><p> Elizabeth Warren questioned Treasury secretary Janet Yellen earlier this year about why BlackRock (BLK), the iShares ETF giant that manages more than $9 trillion in assets but is not a bank, is not considered \"too big to fail.\"</p><p><blockquote>伊丽莎白·沃伦(Elizabeth Warren)今年早些时候向财政部长珍妮特·耶伦(Janet Yellen)询问，为什么管理着超过9万亿美元资产但不是银行的iShares ETF巨头贝莱德(BLK)不被认为是“大到不能倒”。</blockquote></p><p> Wall Street has already gotten a brief taste of how risky some of these firms are when Archegos Capital Management, a family office with big positions in media giants ViacomCBS (VIACA) and Discovery (DISCA) and Chinese techs Baidu (BIDU) and Tencent Music (TME), imploded and caused billions of dollars in losses for banks. (AT&amp;T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)</p><p><blockquote>Archegos Capital Management是一家家族办公室，在媒体巨头维亚康姆哥伦比亚广播公司(VIACA)和Discovery(DISCA)以及中国科技公司百度(BIDU)和腾讯控股音乐中持有大量头寸，华尔街已经初步了解了其中一些公司的风险有多大。(TME)崩溃并给银行造成数十亿美元的损失。（AT&amp;T(T)正计划将其CNN母公司WarnerMedia部门与Discovery合并。）</blockquote></p><p> For its part, the Fed has acknowledged some of the growing risks to the markets and economy from keeping rates lower for longer and continuing to provide crisis-level stimulus.</p><p><blockquote>就美联储而言，它承认，长期保持低利率并继续提供危机级别的刺激措施给市场和经济带来了一些日益增长的风险。</blockquote></p><p> In the minutes of its latest policy meeting, the central bank acknowledged that \"if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.\"</p><p><blockquote>在最新的政策会议纪要中，央行承认，“如果经济继续朝着委员会的目标取得快速进展，那么在即将举行的会议中的某个时候开始讨论调整资产购买步伐的计划可能是合适的。”</blockquote></p><p> But Kerry Killinger thinks the Fed has to do a better job of stress-testing big banks for their exposure to some of the types of assets that have been surging in the past year to make sure that they can withstand even more volatility.</p><p><blockquote>但克里·基林格认为，美联储必须更好地对大银行对过去一年飙升的某些类型资产的敞口进行压力测试，以确保它们能够承受更大的波动。</blockquote></p><p></p><p> \"The Fed made the mistake of underestimating subprime in the last crisis,\" he said, referring to the now infamous comments from then Fed chair Ben Bernanke in May 2007 that \"the effect of the troubles in the subprime sector on the broader housing market will likely be limited.\"</p><p><blockquote>“美联储在上次危机中犯了低估次贷的错误，”他说，指的是时任美联储主席本·伯南克在2007年5月发表的臭名昭著的言论，即“次贷行业的麻烦对更广泛的房地产市场的影响可能是有限的。”</blockquote></p><p> \"There are growing asset bubbles,\" Kerry Killinger said. \"The Fed needs to test more how firms would perform if these asset prices decline further. If there is a major correction, the impact could be dramatic.\"</p><p><blockquote>“资产泡沫越来越大，”克里·基林格说。“美联储需要更多地测试如果这些资产价格进一步下跌，企业将如何表现。如果出现重大调整，影响可能是巨大的。”</blockquote></p><p> The heads of big banks will also get their chance to talk about their views on the economy later this week. The Senate Banking Committee will hold a hearing on Wednesday and the House Financial Services Committee has one scheduled for Thursday.</p><p><blockquote>本周晚些时候，大银行的负责人也将有机会谈论他们对经济的看法。参议院银行委员会将于周三举行听证会，众议院金融服务委员会定于周四举行听证会。</blockquote></p><p> JPMorgan Chase CEO Jamie Dimon will appear at both hearings, as will new Citgroup CEO Jane Fraser, BofA's Brian Moynihan, Wells Fargo's Charles Scharf, Goldman Sachs CEO David Solomon and Morgan Stanley's James Gorman.</p><p><blockquote>摩根大通首席执行官杰米·戴蒙将出席这两场听证会，花旗集团新任首席执行官简·弗雷泽、美国银行的布莱恩·莫伊尼汉、富国银行的查尔斯·沙夫、高盛首席执行官大卫·所罗门和摩根士丹利的詹姆斯·戈尔曼也将出席。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>In 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来倒闭的最大银行的首席执行官。他担心另一场危机</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\">\nIn 2008, he was CEO of the biggest bank to ever fail. He's worried about another crisis<blockquote>2008年，他是有史以来倒闭的最大银行的首席执行官。他担心另一场危机</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">cnn</strong><span class=\"h-time small\">2021-05-26 11:57</span>\n</p>\n</h4>\n</header>\n<article>\n<p>New York (CNN Business)The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.</p><p><blockquote>纽约（CNN商业）13年前，银行界几乎崩溃了。华盛顿互惠银行的前首席执行官担心另一个泡沫正在酝酿。</blockquote></p><p> Kerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.</p><p><blockquote>克里·基林格(Kerry Killinger)于1990年被任命为WaMu首席执行官，并于2008年9月被解雇——就在该银行因越来越多的抵押贷款出现不良而倒闭的几周前。</blockquote></p><p> WaMu was one of several top financial firms to collapse during the financial crisis last decade, but the giant savings and loan with more than $300 billion in assets still ranks as the biggest-ever bank failure. WaMu was seized by regulators in September 2008 and sold to JPMorgan Chase (JPM) for a fire-sale price of $1.9 billion.</p><p><blockquote>WaMu是过去十年金融危机期间倒闭的几家顶级金融公司之一，但这家资产超过3000亿美元的储蓄和贷款巨头仍然是有史以来最大的银行倒闭事件。WaMu于2008年9月被监管机构查封，并以19亿美元的贱卖价格出售给摩根大通(JPM)。</blockquote></p><p> Killinger spoke to CNN Business about the similarities and differences between now and 13 years ago.</p><p><blockquote>Killinger向CNN Business讲述了现在与13年前的异同。</blockquote></p><p> <b>The good news</b></p><p><blockquote><b>好消息是</b></blockquote></p><p> The Global Financial Crisis led to a wave of new federal rules that were designed to strengthen the balance sheets of top banks and ensure that another catastrophe like 2008 could never happen again.</p><p><blockquote>全球金融危机导致了一波新的联邦规则，旨在加强顶级银行的资产负债表，并确保类似2008年的灾难永远不会再次发生。</blockquote></p><p> The good news is that Killinger thinks JPMorgan Chase and other \"too big to fail banks\" are in much better shape now after laws like Dodd-Frank and the Volcker Rule were put into place in the wake of the financial crisis to make big banks safer.</p><p><blockquote>好消息是，基林格认为，在金融危机后实施多德弗兰克法案和沃尔克规则等法律以使大银行更加安全之后，摩根大通和其他“太大而不能倒的银行”现在的状况要好得多。</blockquote></p><p> That group of institutions also includes Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS), as well as others that received government bailouts in 2008.</p><p><blockquote>这组机构还包括美国银行(BAC)、花旗集团(C)、富国银行(WFC)、高盛(GS)和摩根士丹利(MS)，以及其他在2008年接受政府救助的机构。</blockquote></p><p> \"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not too concerned there.\"</p><p><blockquote>“受监管的银行现在确实拥有更加集中的市场份额，因此他们必须更加小心，”基林格说。“但该行业的健康状况良好，盈利良好，监管也很有力。我对此并不太担心。”</blockquote></p><p> Subprime lending, the practice of giving mortgages to people with less-than-worthy credit histories, isn't nearly as prevalent as it was during the last housing boom. But Killinger is worried about bubbles in many other parts of the economy that threaten the stability of the markets.</p><p><blockquote>次级贷款，即向信用记录不佳的人提供抵押贷款的做法，已经不像上次房地产繁荣时期那样普遍了。但基林格担心许多其他经济领域的泡沫会威胁到市场的稳定。</blockquote></p><p> <b>Too big to fail 2.0?</b></p><p><blockquote><b>大到不能倒2.0？</b></blockquote></p><p> Although housing prices have surged again, Killinger is more nervous about the fact that 0% interest rates and big bond purchases by the Federal Reserve have sparked a broader mania in other assets, including cryptocurrencies and non-fungible tokens (NFTs), meme stocks, blank check SPAC mergers and exotic exchange-traded funds.</p><p><blockquote>尽管房价再次飙升，但Killinger更紧张的是，0%的利率和美联储的大规模债券购买引发了其他资产更广泛的狂热，包括加密货币和不可替代代币（NFT）、模因股票、空白支票SPAC合并和异国情调的交易所交易基金。</blockquote></p><p> \"The bubbles today are broader and deeper in a variety of categories, not just housing,\" Killinger said. \"The Fed's policy of low rates and massive asset purchases worked well to get out of the downturn, but when you keep extending it you can cause unintended consequences.\"</p><p><blockquote>“如今的泡沫在各个类别中都更加广泛和深入，而不仅仅是房地产，”基林格说。“美联储的低利率和大规模资产购买政策很好地摆脱了经济低迷，但当你继续延长政策时，可能会造成意想不到的后果。”</blockquote></p><p> \"The economy continues to improve. It's time for the Fed to pull in the reins on stimulus and allow interest rates to rise,\" he added.</p><p><blockquote>“经济继续改善。美联储是时候收紧刺激政策并允许利率上升了，”他补充道。</blockquote></p><p> Killinger and his wife Linda, a former vice chair of the Federal Home Loan Bank of Des Moines, have written a book about the 2008 meltdown called \"Nothing Is Too Big to Fail: How the Last Financial Crisis Informs Today.\"</p><p><blockquote>基林格和他的妻子琳达（得梅因联邦住房贷款银行前副主席）写了一本关于2008年金融危机的书，名为《没有什么大到不能倒：上次金融危机对今天的影响》。</blockquote></p><p> Linda Killinger told CNN Business she's concerned about the rise of of financial tech companies, hedge funds. private equity firms and other so-called shadow banks that face little to no regulation in Washington.</p><p><blockquote>琳达·基林格(Linda Killinger)告诉CNN Business，她对金融科技公司和对冲基金的崛起感到担忧。私人股本公司和其他所谓的影子银行在华盛顿几乎没有受到监管。</blockquote></p><p> \"The non-bank system is a big part of the problem. And there are still a lot of loans being done by non-regulated banks such as online banks and many private companies,\" she said.</p><p><blockquote>“非银行系统是问题的一个重要部分。而且仍然有很多贷款是由不受监管的银行如网上银行和许多私营公司提供的，”她说。</blockquote></p><p> <b>Large financial firms may be embracing too much risk again</b></p><p><blockquote><b>大型金融公司可能再次承担过多风险</b></blockquote></p><p> At least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.</p><p><blockquote>至少有一位著名的参议员担心，就像杀手一样，一些金融公司再次变得过于笨重。</blockquote></p><p> Elizabeth Warren questioned Treasury secretary Janet Yellen earlier this year about why BlackRock (BLK), the iShares ETF giant that manages more than $9 trillion in assets but is not a bank, is not considered \"too big to fail.\"</p><p><blockquote>伊丽莎白·沃伦(Elizabeth Warren)今年早些时候向财政部长珍妮特·耶伦(Janet Yellen)询问，为什么管理着超过9万亿美元资产但不是银行的iShares ETF巨头贝莱德(BLK)不被认为是“大到不能倒”。</blockquote></p><p> Wall Street has already gotten a brief taste of how risky some of these firms are when Archegos Capital Management, a family office with big positions in media giants ViacomCBS (VIACA) and Discovery (DISCA) and Chinese techs Baidu (BIDU) and Tencent Music (TME), imploded and caused billions of dollars in losses for banks. (AT&amp;T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)</p><p><blockquote>Archegos Capital Management是一家家族办公室，在媒体巨头维亚康姆哥伦比亚广播公司(VIACA)和Discovery(DISCA)以及中国科技公司百度(BIDU)和腾讯控股音乐中持有大量头寸，华尔街已经初步了解了其中一些公司的风险有多大。(TME)崩溃并给银行造成数十亿美元的损失。（AT&amp;T(T)正计划将其CNN母公司WarnerMedia部门与Discovery合并。）</blockquote></p><p> For its part, the Fed has acknowledged some of the growing risks to the markets and economy from keeping rates lower for longer and continuing to provide crisis-level stimulus.</p><p><blockquote>就美联储而言，它承认，长期保持低利率并继续提供危机级别的刺激措施给市场和经济带来了一些日益增长的风险。</blockquote></p><p> In the minutes of its latest policy meeting, the central bank acknowledged that \"if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.\"</p><p><blockquote>在最新的政策会议纪要中，央行承认，“如果经济继续朝着委员会的目标取得快速进展，那么在即将举行的会议中的某个时候开始讨论调整资产购买步伐的计划可能是合适的。”</blockquote></p><p> But Kerry Killinger thinks the Fed has to do a better job of stress-testing big banks for their exposure to some of the types of assets that have been surging in the past year to make sure that they can withstand even more volatility.</p><p><blockquote>但克里·基林格认为，美联储必须更好地对大银行对过去一年飙升的某些类型资产的敞口进行压力测试，以确保它们能够承受更大的波动。</blockquote></p><p></p><p> \"The Fed made the mistake of underestimating subprime in the last crisis,\" he said, referring to the now infamous comments from then Fed chair Ben Bernanke in May 2007 that \"the effect of the troubles in the subprime sector on the broader housing market will likely be limited.\"</p><p><blockquote>“美联储在上次危机中犯了低估次贷的错误，”他说，指的是时任美联储主席本·伯南克在2007年5月发表的臭名昭著的言论，即“次贷行业的麻烦对更广泛的房地产市场的影响可能是有限的。”</blockquote></p><p> \"There are growing asset bubbles,\" Kerry Killinger said. \"The Fed needs to test more how firms would perform if these asset prices decline further. If there is a major correction, the impact could be dramatic.\"</p><p><blockquote>“资产泡沫越来越大，”克里·基林格说。“美联储需要更多地测试如果这些资产价格进一步下跌，企业将如何表现。如果出现重大调整，影响可能是巨大的。”</blockquote></p><p> The heads of big banks will also get their chance to talk about their views on the economy later this week. The Senate Banking Committee will hold a hearing on Wednesday and the House Financial Services Committee has one scheduled for Thursday.</p><p><blockquote>本周晚些时候，大银行的负责人也将有机会谈论他们对经济的看法。参议院银行委员会将于周三举行听证会，众议院金融服务委员会定于周四举行听证会。</blockquote></p><p> JPMorgan Chase CEO Jamie Dimon will appear at both hearings, as will new Citgroup CEO Jane Fraser, BofA's Brian Moynihan, Wells Fargo's Charles Scharf, Goldman Sachs CEO David Solomon and Morgan Stanley's James Gorman.</p><p><blockquote>摩根大通首席执行官杰米·戴蒙将出席这两场听证会，花旗集团新任首席执行官简·弗雷泽、美国银行的布莱恩·莫伊尼汉、富国银行的查尔斯·沙夫、高盛首席执行官大卫·所罗门和摩根士丹利的詹姆斯·戈尔曼也将出席。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/05/25/investing/washington-mutual-kerry-killinger-banks/index.html\">cnn</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://edition.cnn.com/2021/05/25/investing/washington-mutual-kerry-killinger-banks/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129186705","content_text":"New York (CNN Business)The banking world nearly caved in 13 years ago. The former CEO of Washington Mutual is worried that another bubble is brewing.\nKerry Killinger was named CEO of WaMu in 1990 and was fired in September 2008 -- just weeks before the bank failed as a growing number of mortgage loans went bad.\nWaMu was one of several top financial firms to collapse during the financial crisis last decade, but the giant savings and loan with more than $300 billion in assets still ranks as the biggest-ever bank failure. WaMu was seized by regulators in September 2008 and sold to JPMorgan Chase (JPM) for a fire-sale price of $1.9 billion.\nKillinger spoke to CNN Business about the similarities and differences between now and 13 years ago.\nThe good news\nThe Global Financial Crisis led to a wave of new federal rules that were designed to strengthen the balance sheets of top banks and ensure that another catastrophe like 2008 could never happen again.\nThe good news is that Killinger thinks JPMorgan Chase and other \"too big to fail banks\" are in much better shape now after laws like Dodd-Frank and the Volcker Rule were put into place in the wake of the financial crisis to make big banks safer.\nThat group of institutions also includes Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Goldman Sachs (GS) and Morgan Stanley (MS), as well as others that received government bailouts in 2008.\n\"Regulated banks do have more concentrated market share now so they have to be more careful,\" Killinger said. \"But the health of the industry is great, earnings are good and oversight is strong. I'm not too concerned there.\"\nSubprime lending, the practice of giving mortgages to people with less-than-worthy credit histories, isn't nearly as prevalent as it was during the last housing boom. But Killinger is worried about bubbles in many other parts of the economy that threaten the stability of the markets.\nToo big to fail 2.0?\nAlthough housing prices have surged again, Killinger is more nervous about the fact that 0% interest rates and big bond purchases by the Federal Reserve have sparked a broader mania in other assets, including cryptocurrencies and non-fungible tokens (NFTs), meme stocks, blank check SPAC mergers and exotic exchange-traded funds.\n\"The bubbles today are broader and deeper in a variety of categories, not just housing,\" Killinger said. \"The Fed's policy of low rates and massive asset purchases worked well to get out of the downturn, but when you keep extending it you can cause unintended consequences.\"\n\"The economy continues to improve. It's time for the Fed to pull in the reins on stimulus and allow interest rates to rise,\" he added.\nKillinger and his wife Linda, a former vice chair of the Federal Home Loan Bank of Des Moines, have written a book about the 2008 meltdown called \"Nothing Is Too Big to Fail: How the Last Financial Crisis Informs Today.\"\nLinda Killinger told CNN Business she's concerned about the rise of of financial tech companies, hedge funds. private equity firms and other so-called shadow banks that face little to no regulation in Washington.\n\"The non-bank system is a big part of the problem. And there are still a lot of loans being done by non-regulated banks such as online banks and many private companies,\" she said.\nLarge financial firms may be embracing too much risk again\nAt least one prominent senator is worried, like the Killingers are, that some financial firms are once again getting too unwieldy.\nElizabeth Warren questioned Treasury secretary Janet Yellen earlier this year about why BlackRock (BLK), the iShares ETF giant that manages more than $9 trillion in assets but is not a bank, is not considered \"too big to fail.\"\nWall Street has already gotten a brief taste of how risky some of these firms are when Archegos Capital Management, a family office with big positions in media giants ViacomCBS (VIACA) and Discovery (DISCA) and Chinese techs Baidu (BIDU) and Tencent Music (TME), imploded and caused billions of dollars in losses for banks. (AT&T (T) is planning to merge its WarnerMedia unit, CNN's parent company, with Discovery.)\nFor its part, the Fed has acknowledged some of the growing risks to the markets and economy from keeping rates lower for longer and continuing to provide crisis-level stimulus.\nIn the minutes of its latest policy meeting, the central bank acknowledged that \"if the economy continued to make rapid progress toward the Committee's goals, it might be appropriate at some point in upcoming meetings to begin discussing a plan for adjusting the pace of asset purchases.\"\nBut Kerry Killinger thinks the Fed has to do a better job of stress-testing big banks for their exposure to some of the types of assets that have been surging in the past year to make sure that they can withstand even more volatility.\n\"The Fed made the mistake of underestimating subprime in the last crisis,\" he said, referring to the now infamous comments from then Fed chair Ben Bernanke in May 2007 that \"the effect of the troubles in the subprime sector on the broader housing market will likely be limited.\"\n\"There are growing asset bubbles,\" Kerry Killinger said. \"The Fed needs to test more how firms would perform if these asset prices decline further. If there is a major correction, the impact could be dramatic.\"\nThe heads of big banks will also get their chance to talk about their views on the economy later this week. The Senate Banking Committee will hold a hearing on Wednesday and the House Financial Services Committee has one scheduled for Thursday.\nJPMorgan Chase CEO Jamie Dimon will appear at both hearings, as will new Citgroup CEO Jane Fraser, BofA's Brian Moynihan, Wells Fargo's Charles Scharf, Goldman Sachs CEO David Solomon and Morgan Stanley's James Gorman.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894173782,"gmtCreate":1628813928446,"gmtModify":1631884928808,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Will bounce","listText":"Will bounce","text":"Will bounce","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/894173782","repostId":"2159266201","repostType":4,"isVote":1,"tweetType":1,"viewCount":1594,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":808276169,"gmtCreate":1627599336151,"gmtModify":1631890358500,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/808276169","repostId":"1131907757","repostType":4,"isVote":1,"tweetType":1,"viewCount":728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":801287502,"gmtCreate":1627518903506,"gmtModify":1631890358527,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/801287502","repostId":"2155649978","repostType":4,"isVote":1,"tweetType":1,"viewCount":672,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154501061,"gmtCreate":1625532442953,"gmtModify":1633939954790,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154501061","repostId":"1190430616","repostType":4,"isVote":1,"tweetType":1,"viewCount":252,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":155425472,"gmtCreate":1625450058996,"gmtModify":1633940591955,"author":{"id":"3555914646523682","authorId":"3555914646523682","name":"nayoowin","avatar":"https://static.tigerbbs.com/15f0b006a5a32255f437afc5e32b6b80","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3555914646523682","authorIdStr":"3555914646523682"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155425472","repostId":"1169840279","repostType":4,"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}