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andyzui

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2021-10-27

$Tiger Brokers(TIGR)$diving champion getting ready

2021-07-12

Yesh

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2021-06-29

Yeaah

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2021-06-27

Tesla

Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>

2021-06-24

$1000 stock by year end

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2021-06-20

There are many more esp crypto related

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2021-06-05

Pump and dump

AMC Stock Is Up 3,100%. Should You Buy or Sell?<blockquote>AMC股价上涨3,100%。你应该买还是卖？</blockquote>

2021-05-31

Bubble finally starts to burst

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2021-05-29

Noise

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2021-05-28

Currently it is worth between $19 to 20

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2021-05-26

A prof from value school of thought will never understand growth stock, until tsla becomes a value stock. By then, the price would have been over few thousand

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2021-05-02

Oh no

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2021-04-29

Break the $50 barrier

NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>

2021-04-28

Hope NIO does not suffer the same fate as tesla

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2021-04-28

Ignore the noise.

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2021-04-24

lai liao lo

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2021-04-23

Oh no

Coinbase fell 2% in pre-market<blockquote>Coinbase盘前跌2%</blockquote>

2021-04-22

Times are bad

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2021-04-21

Buy at a sale

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2021-04-20

What goes down must come up (Disclaimer: Quality stocks)

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a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>diving champion getting ready","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>diving champion getting ready","text":"$Tiger Brokers(TIGR)$diving champion getting 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08:40","market":"us","language":"en","title":"Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1137119316","media":"seekingalpha","summary":"I am comparing Ford against NIO in different categories.The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.NIO is growing a lot faster than Ford and the high valuation may be justified.With Ford  launching a major offensive in the market for electric vehicles, Chinese EV maker NIO  will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</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>Ford Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</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\">\nFord Or NIO? The Final Verdict<blockquote>福特还是蔚来？最终判决</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-27 08:40</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>I am comparing Ford against NIO in different categories.</li>  <li>The comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.</li>  <li>NIO is growing a lot faster than Ford and the high valuation may be justified.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5033fa117d7852799244b8275bc1000f\" tg-width=\"1536\" tg-height=\"886\"><span>peterschreiber.media/iStock via Getty Images</span></p><p><blockquote><ul><li>我在不同的类别中比较福特和蔚来。</li><li>此次比较旨在加深对福特和蔚来增长潜力的了解，同时突出市场地位和机会的差异。</li><li>蔚来的增长速度比福特快得多，高估值可能是合理的。</li></ul><p class=\"t-img-caption\"><span>peterschreiber.media/iStock来自Getty Images</span></p></blockquote></p><p> With Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.</p><p><blockquote>随着福特（F）在电动汽车市场发起重大攻势，中国电动汽车制造商蔚来（蔚来）未来将面临多一个竞争对手争夺销量。根据市场机会、规模、收入模式、增长前景和估值，哪家汽车制造商提供了最好的交易？我将在每个类别中比较福特和蔚来，并在最后做出最终裁决。</blockquote></p><p> <b>Ford vs. NIO: The battle for the global electric vehicle market is heating up</b></p><p><blockquote><b>福特vs蔚来：全球电动车市场争夺战升温</b></blockquote></p><p> Although there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing&nbsp;$30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.</p><p><blockquote>尽管福特和蔚来之间存在天壤之别，但两家公司将在快速增长的全球电动汽车市场上展开正面交锋。福特的车队尚未专注于电动汽车，但这种情况将会改变：感觉到电动汽车竞赛正在升温，福特表示正在加速其电气化计划，到2025年投资300B美元用于电动汽车制造能力。福特之前的资本计划要求对零排放汽车投资220亿美元。福特还设定了一个雄心勃勃的销售目标：未来十年内其全球销量的40%将是电动汽车，皮卡销量的33%将是电动汽车。如今，电动汽车销量仅占福特销量的1%。随着福特逐步淘汰内燃机，它将在2040年发展成为一家全电动汽车制造商。</blockquote></p><p> <b>Market opportunity</b></p><p><blockquote><b>市场机会</b></blockquote></p><p> In 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.</p><p><blockquote>2020年，全球电动汽车销量为320万辆，市场份额仅为4.2%。然而，2020年，中国购买了全球41%的电动汽车。中国买家去年购买了130万辆电动汽车，随着北京寻求提高电动汽车的采用率，销量将快速增长。电动汽车的第二大市场是欧洲，占全球电动汽车销量的42%。美国只是世界上插电式电动汽车的第三大市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b48c23b32134542f51227d9b1b612887\" tg-width=\"1083\" tg-height=\"863\"><span>(Source: Wikipedia)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：维基百科）</span></p></blockquote></p><p> China, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is&nbsp;on the cusp of entering the European market&nbsp;in a bid to grow market share in the world’s second-largest EV market before the competition is ready.</p><p><blockquote>迄今为止，中国是世界上增长最快的电动汽车市场，尽管欧洲正在迅速赶上，部分原因是立法努力增加零排放乘用车的采用，以及对全欧洲充电站网络的大量投资。蔚来即将进入欧洲市场，以期在竞争准备就绪之前扩大在全球第二大电动汽车市场的市场份额。</blockquote></p><p> Beijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a&nbsp;twenty percent share&nbsp;of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.</p><p><blockquote>北京是蔚来汽车行业电气化背后的驱动力：政府希望到2025年电动汽车在新车销售中的份额达到20%，这将推动电动汽车在国内市场的渗透率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9871e44eaf69adb27151425887870ace\" tg-width=\"739\" tg-height=\"454\"><span>(Source:Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> Turning to growth projections.</p><p><blockquote>转向增长预测。</blockquote></p><p> With more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.</p><p><blockquote>随着中国和欧洲等地政府对电动汽车制造商采取更有利的政策，这些市场有望出现全球最快的销售增长和最高的电动汽车采用率。由于人口规模，中国不仅是最大的市场，而且预计到2030年，中国的电动汽车销量将超过世界上所有其他市场。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/61d19dff2f34e2d8828aca854e85d84a\" tg-width=\"825\" tg-height=\"565\"><span>(Source:McKinsey)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：麦肯锡）</span></p></blockquote></p><p> Since China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.</p><p><blockquote>由于中国拥有更大的总市场规模、更高的电动汽车采用率、更强劲的预期销售增长以及更有利的监管框架，因此中国的赢家将是：蔚来。</blockquote></p><p> <b>Scale and manufacturing competence</b></p><p><blockquote><b>规模和制造能力</b></blockquote></p><p> Ford has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.</p><p><blockquote>福特拥有一个世纪的制造经验。但到目前为止，福特的产品线中只有一款全电动汽车可以与蔚来相媲美：野马Mach-E SUV。2022年，福特将开始销售全电动F-150 Lightening，该车建立在福特最畅销皮卡车的成功基础上。蔚来已经拥有更强大的产品目录，包括5座ES6 SUV、5座轿跑SUV EC6以及6座和7座全尺寸SUV ES8。</blockquote></p><p></p><p> Since NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.</p><p><blockquote>由于蔚来仅专注于生产电动汽车，并且占据了非常小且明确的利基市场，因此这家中国公司在电动汽车制造专业知识方面具有优势。问题是这种优势能持续多久。福特在制造汽车方面拥有丰富的经验，可以利用全球制造基地以比任何利基电动汽车制造商所希望的更快的速度提高电动汽车产量。这使得福特不仅在美国成为特斯拉(TSLA)的有力竞争对手，而且在国外也成为蔚来的有力竞争对手。福特正在加速其电气化计划，它有资源和雄心在未来十年内成为电动汽车的领导者。福特提议在其车队电气化上投入300B美元，这将加速其转型，并使福特成为其他电动汽车制造商的长期威胁。</blockquote></p><p> Winner here: Ford.</p><p><blockquote>赢家：福特。</blockquote></p><p> <b>Differentiation and BaaS revenue model</b></p><p><blockquote><b>差异化和BaaS收入模式</b></blockquote></p><p> Both Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.</p><p><blockquote>福特和蔚来都知道差异化在一个竞争只会随着时间的推移而变得更加激烈的市场中的重要性，这就是为什么两家公司都在一个可以打破或巩固电动汽车市场主导地位的相关领域：电池技术。</blockquote></p><p> Ford is&nbsp;forming a joint venture&nbsp;with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has&nbsp;formed its own joint venture&nbsp;to secure battery supply.</p><p><blockquote>福特正在与韩国电池技术公司SK Innovation组建一家合资企业，以确保牵引电池单元和阵列模块的供应。该合资企业旨在加速电池交付，每年将生产约60 GWh，足以满足福特到2030年预计年度能源需求的25%。蔚来也在投资电池技术，并成立了自己的合资企业来确保电池供应。</blockquote></p><p> The difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.</p><p><blockquote>与福特的不同之处在于，蔚来的电池投资策略围绕电池订阅模式，也称为“电池即服务”，这为这家中国汽车制造商创造了强大的长期收入机会。在这种“BaaS”模式下，购买蔚来电动汽车的用户可以获得7万元人民币的初始折扣，相当于1.08万美元，并且可以签约包月租用可充电的70 kWh电池。然后可以在蔚来的一个电池交换站更换电池，该站遍布中国大多数大城市。电池订阅费用为每月980元人民币，相当于150美元。</blockquote></p><p> The BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.</p><p><blockquote>BaaS模式对汽车制造商和用户都有几个好处：由于预付折扣，从蔚来购买电动汽车变得更加实惠，订阅模式确保用户受益于电池技术的进步和更好的性能随着时间的推移。将电池成本与汽车价格脱钩为蔚来创造了一个全新的订阅收入来源。“BaaS”订阅的收入可用于增加蔚来充电/更换站网络的密度。电池订阅模式还将客户与蔚来绑定在一起，有可能增加客户的终身价值。</blockquote></p><p> Ford and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.</p><p><blockquote>福特和蔚来准备从电动汽车电池成本下降中受益，因为它们增加了资本配置。随着越来越多的投资流入开发更高效的电池，性能将会提高，成本将会下降，这将推动电动汽车的采用并使所有电动汽车制造商受益。这是因为较低的电池价格使电动汽车与内燃机乘用车相比更具竞争力。但由于蔚来明确围绕电池订阅构建其商业模式的一部分，蔚来可能比福特受益更多。</blockquote></p><p> Battery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.</p><p><blockquote>根据投资公司施罗德(Schroders)提供的信息，自2014年以来，电动汽车的电池成本已下降70%，并且在本十年还将进一步下降。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42acb75905affe7570a2f399ea3192f\" tg-width=\"758\" tg-height=\"449\"><span>(Source: Schroders)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：施罗德）</span></p></blockquote></p><p> The “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.</p><p><blockquote>“BaaS”模式非常天才，从长远来看，它可能会发展成为蔚来每年5亿美元的收入机会。尽管福特正在加大对电池技术的投资，但这一类别的赢家是：蔚来。</blockquote></p><p> <b>Sales growth and valuation</b></p><p><blockquote><b>销售增长和估值</b></blockquote></p><p> Ford’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.</p><p><blockquote>福特5月份销量同比增长4.1%，但电动汽车销量（包括混合动力汽车）同比飙升184%，福特5月份售出创纪录的10,364辆电动汽车/混合动力汽车。Escape electrified销量和Explorer Hybrid销量同比增长125%和132%，显示出强劲的客户接受度。蔚来上个月交付了6,711辆汽车，其中包括3,017辆ES6、1,412辆ES8和2,282辆EC6。5月份总交付量同比增长率为95.3%。</blockquote></p><p> Ford's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.</p><p><blockquote>福特的销售额是蔚来的54倍，这为蔚来创造了更多的销售增长和价值重估潜力。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/df5a0a393e44ed74241c5effcdd92350\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p></p><p> The difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!</p><p><blockquote>福特和蔚来的估值差异就像白天和黑夜的区别。这是因为尽管电动汽车类别出现爆炸性增长，但福特仍被视为一家成熟的汽车制造商，预计企业销量将实现中低位数增长。预计到2025财年（基准年：2020财年），福特的收入将增长33%，蔚来的收入将增长808%！</blockquote></p><p> Due to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.</p><p><blockquote>由于这些销量增长的差异，蔚来与福特完全相反，至少就估值而言。这家中国电动汽车制造商预计今年的销量和交付量将增长接近100%，由于蔚来只经营电动汽车，蔚来的市值与销售额比率远高于福特。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/817605c6b1e82c03d0473ea570d32b8f\" tg-width=\"506\" tg-height=\"406\"><span>(Source: Author)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：作者）</span></p></blockquote></p><p> <b>NIO has larger risks...</b></p><p><blockquote><b>蔚来风险更大……</b></blockquote></p><p> NIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.</p><p><blockquote>蔚来是风险更大的企业，但也是最有希望的企业。政府政策有利于蔚来等电动汽车制造商。蔚来的全球总销量增长潜力更大，因为与福特相比，它的收入基础较小。但也有一些事情对蔚来不利。例如，对于蔚来来说，由于生产缺陷而导致的召回将是一个比福特更大的挑战，福特可以依赖全球服务和分销网络。蔚来的估值也并非没有风险，因为生产受挫导致销售增长意外放缓将对财务状况造成更大的影响。</blockquote></p><p> <b>Final verdict</b></p><p><blockquote><b>终审判决</b></blockquote></p><p> NIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.</p><p><blockquote>蔚来绝对是更“性感”的汽车制造商。中欧的强劲采用和销售增长支持了蔚来。其超级智能BaaS模型将车辆购买价格与电池成本脱钩，这是天才之举。你为这种增长付出了高昂的代价，但蔚来的市场机会是巨大的。</blockquote></p><p> Ford’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.</p><p><blockquote>福特的电动汽车销量正在蓬勃发展，随着汽车制造商对其车队进行电气化，电动汽车销量的比例将会增加。福特在电动汽车市场潜力巨大，但由于电动汽车销量占总销量的比例仍然相对较低，福特需要很长时间才能完成转型。</blockquote></p><p> If you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.</p><p><blockquote>如果您相信全球电动汽车市场的潜力，请购买蔚来。如果您相信全球电动汽车市场的潜力并且不喜欢太多风险，请购买福特。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict\">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":{"NIO":"蔚来","F":"福特汽车"},"source_url":"https://seekingalpha.com/article/4436600-ford-or-nio-the-final-verdict","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137119316","content_text":"Summary\n\nI am comparing Ford against NIO in different categories.\nThe comparison is intended to improve the understanding of Ford's and NIO's growth potential while highlighting differences in market position and opportunities.\nNIO is growing a lot faster than Ford and the high valuation may be justified.\n\npeterschreiber.media/iStock via Getty Images\nWith Ford (F) launching a major offensive in the market for electric vehicles, Chinese EV maker NIO (NIO) will face one more rival competing for sales in the future. Which vehicle maker offers the best deal based on market opportunity, scale, revenue model, growth prospects and valuation? I will compare Ford against NIO in each category and issue a final verdict at the end.\nFord vs. NIO: The battle for the global electric vehicle market is heating up\nAlthough there is a world of difference between Ford and NIO, both companies are set to go toe-to-toe in the rapidly growing global electric vehicle market. Ford’s fleet is not yet EV-focused but this is going to change: Feeling that the EV race is heating up, Ford said it is accelerating its electrification plan by investing $30B into its EV manufacturing capabilities until 2025. Ford’s previous capital plan called for a $22B investment in zero-emission vehicles. Ford also set an ambitious sales goal: 40% of its global sales will be electric within the next decade and 33% of pickup truck sales. Electric vehicle sales account for just 1% of Ford's sales today. As Ford is phasing out combustion engines, it is set to evolve into an all-electric vehicle maker by 2040.\nMarket opportunity\nIn 2020, 3.2m electric vehicles were sold in the world which represented a small market share of just 4.2%. China, however, was responsible for buying 41% of all electric vehicles in the world in 2020. Chinese buyers purchased 1.3m electric vehicles last year and sales are set to grow fast as Beijing seeks to boost EV adoption. The second largest market for electric vehicles was Europe which accounted for 42% of global EV sales. The US is only the third-largest market for plug-in electric vehicles in the world.\n(Source: Wikipedia)\nChina, by far, is the fastest growing EV market in the world, although Europe is catching up fast, in part due to a legislative efforts to increase adoption of zero-emission passenger vehicles and because of massive investments in a Europe-wide charging station network. NIO is on the cusp of entering the European market in a bid to grow market share in the world’s second-largest EV market before the competition is ready.\nBeijing is a driver behind the electrification of the Chinese auto industry: The government wants to see a twenty percent share of electric vehicles for new car sales by 2025 which will drive EV penetration in NIO’s home market.\n(Source:Schroders)\nTurning to growth projections.\nWith more favorable government policies for EV makers in places like China and Europe, these markets are poised to see the fastest sales growth and the highest EV adoption rates in the world. China is not only the largest market due to population size but is also expected to outperform all other markets in the world in EV sales until 2030.\n(Source:McKinsey)\nSince China has a larger total market size, a higher EV adoption rate, stronger expected sales growth and a more favorable regulatory framework, the winner here would be: NIO.\nScale and manufacturing competence\nFord has a century’s worth of manufacturing experience. But Ford, so far, has only one all-electric vehicle in its product line-up that compares to NIO: The Mustang Mach-E SUV. In 2022, Ford will begin to sell the all-electric F-150 Lightening which builds on the success of Ford’s best-selling pick-up truck. NIO already has a stronger product catalog including the 5-seater ES6 SUV, the 5-seater coupe SUV EC6 and the ES8, a 6-seater and 7-seater full-sized SUV.\nSince NIO is solely focused on producing EVs and occupies a very small and defined niche, the Chinese firm has an advantage as far as EV-manufacturing expertise goes. The question is how long this advantage can last. Ford has extensive experience in building cars and can leverage a global manufacturing base to ramp up EV production faster than any niche EV maker could ever hope to achieve. This makes Ford a very serious rival not only to Tesla (TSLA) in the US, but also to NIO abroad. Ford is accelerating its electrification plans and it has the resources and the ambition to become a leader in EVs within the next decade. Ford’s proposed $30B spending on the electrification of its fleet will accelerate its transformation and turn Ford into a long term threat to other EV makers.\nWinner here: Ford.\nDifferentiation and BaaS revenue model\nBoth Ford and NIO know about the importance of differentiation in a market that will only get more competitive over time, which is why both companies are investing heavily in a related field that can break or solidify dominance in the EV market: Battery technology.\nFord is forming a joint venture with South Korean battery technology company SK Innovation to secure supply of traction battery cells and array modules. The joint venture is meant to accelerate battery deliveries and will produce approximately 60 GWh annually, enough to cover 25% of Ford’s estimated annual energy demand by 2030. NIO is also investing in battery technology and has formed its own joint venture to secure battery supply.\nThe difference to Ford is that NIO’s battery investment strategy revolves around a battery subscription model, also called “battery-as-a-service”, which creates a strong, long term revenue opportunity for the Chinese vehicle maker. Under this “BaaS” model, users who buy a NIO electric vehicle get a 70,000 RMB initial discount, equivalent to $10,800, and can sign up for a monthly subscription to rent a rechargeable 70 kWh battery. Batteries can then be exchanged at one of NIO’s battery-swapping stations which can be found in most big Chinese cities. A battery subscription costs 980 RMB monthly which is the equivalent of $150.\nThe BaaS model has a couple of benefits for both the vehicle maker and the user: Purchasing an electric vehicle from NIO gets a lot more affordable due to the up-front discount and the subscription model ensures that users benefit from advancement in battery technology and better performance over time. Decoupling battery costs from vehicle prices creates an entirely new revenue stream on a subscription basis for NIO. Revenues from “BaaS” subscriptions could be used to increase the density of NIO’s network of charging/replacement stations. The battery subscription model also binds customers to NIO, potentially increasing customer lifetime value.\nFord and NIO are primed to benefit from falling battery costs for electric vehicles as they ramp up capital allocations. As more investments flow into developing more efficient batteries, performance will go up and costs will go down which should drive EV adoption and benefit all EV makers. This is because lower battery prices make EVs more competitive to passenger vehicles with combustion engines. But since NIO is structuring a part of its business model explicitly around battery subscriptions, NIO could benefit more than Ford.\nBattery costs for EVs have decreased 70% since 2014, based on information provided by investment firm Schroders, and are set to decrease more this decade.\n(Source: Schroders)\nThe “BaaS” model is genius and could develop into a $500M a year revenue opportunity for NIO long term. Although Ford is ramping up its investments in battery technology, the winner in this category is: NIO.\nSales growth and valuation\nFord’s sales in May grew 4.1% Y/Y but electrified vehicle sales (including hybrids) surged 184% Y/Y as Ford sold a record 10,364 EVs/hybrids in May. Escape electrified sales and Explorer Hybrid grew sales at 125% and 132% Y/Y showing strong customer uptake. NIO delivered 6,711 vehicles last month including 3,017 ES6s, 1,412 ES8s and 2,282 EC6s. Total Y/Y delivery growth for May was 95.3%.\nFord's sales are fifty-four times larger than NIO's which creates more sales growth and revaluation potential for NIO.\nData by YCharts\nThe difference in valuation between Ford and NIO is like the difference between night and day. This is because Ford is still seen as a mature vehicle maker with expected enterprise sales growth in the low-to-mid digits, despite explosive growth in the EV category. Ford is expected to grow revenues by 33% until FY 2025 (base year: FY 2020) and NIO by 808%!\nDue to these differences in sales growth, NIO is the complete opposite of Ford, at least as far as valuation goes. The Chinese EV-maker is expected to see sales and delivery growth close to 100% this year and since NIO is only dealing in EVs, NIO gets a much higher market-cap-to-sales ratio than Ford.\n(Source: Author)\nNIO has larger risks...\nNIO is the more risky venture, but also the one that offers the most promise. Government policy favors EV-makers like NIO. The potential for total global sales growth is larger for NIO as it operates from a smaller revenue base compared to Ford. But there are also a few things that work against NIO. For example, recalls due to production defects would be a much bigger challenge for NIO to overcome than for Ford which can rely on a global service and distribution network. NIO’s valuation is also not without risk as an unexpected slowing of sales growth due to production setbacks would leave a much larger dent in the financials.\nFinal verdict\nNIO is definitely the more “sexy” vehicle maker. Strong adoption and sales growth in China and Europe support NIO. Its super smart BaaS model which decouples vehicle purchase prices from battery costs is genius. You pay a high price for this growth but the market opportunity for NIO is immense.\nFord’s EV sales are booming and the percentage of EV sales will increase as the vehicle maker electrifies its fleet. Ford has a lot of potential in the EV market but since EV sales are still a relatively low percentage of total sales, it will take a long time for Ford to complete its transformation.\nIf you believe in the potential of the global EV market, buy NIO. If you believe in the potential of the global EV market and don’t like much risk, buy Ford.","news_type":1,"symbols_score_info":{"F":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":1559,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128246517,"gmtCreate":1624521091839,"gmtModify":1634004926741,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"$1000 stock by year end","listText":"$1000 stock by year end","text":"$1000 stock by year end","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128246517","repostId":"1136393082","repostType":4,"isVote":1,"tweetType":1,"viewCount":1964,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":164064896,"gmtCreate":1624161926815,"gmtModify":1634009986732,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"There are many more esp crypto related","listText":"There are many more esp crypto related","text":"There are many more esp crypto related","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/164064896","repostId":"1183124175","repostType":4,"isVote":1,"tweetType":1,"viewCount":1593,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112866532,"gmtCreate":1622860981626,"gmtModify":1634097277663,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Pump and dump","listText":"Pump and dump","text":"Pump and dump","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/112866532","repostId":"1132937041","repostType":4,"repost":{"id":"1132937041","kind":"news","pubTimestamp":1622853341,"share":"https://www.laohu8.com/m/news/1132937041?lang=zh_CN&edition=full","pubTime":"2021-06-05 08:35","market":"us","language":"en","title":"AMC Stock Is Up 3,100%. Should You Buy or Sell?<blockquote>AMC股价上涨3,100%。你应该买还是卖？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132937041","media":"Barrons","summary":"Photo illustration by Chris Mihal / Dreamstime.com\nIn a market like this, popcorn can become a Buy s","content":"<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d95919779e01e359f19f34476e91d00\" tg-width=\"1260\" tg-height=\"840\"><span>Photo illustration by Chris Mihal / Dreamstime.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>照片插图由Chris Mihal/Dreamstime.com提供</span></p></blockquote></p><p> In a market like this, popcorn can become a Buy signal.</p><p><blockquote>在这样的市场中，爆米花可以成为买入信号。</blockquote></p><p> Shares of AMC Entertainment Holdings jumped more than 95% to an all-time high of $62.55 this past Wednesday after the movie-theater chain announced a new rewards program for shareholders that includes a free large popcorn. The next day, a plan to sell 11.55 million shares (which eventually sold at an average price of $50.85) sent AMC (ticker: AMC) tumbling.</p><p><blockquote>上周三，AMC院线控股公司宣布了一项新的股东奖励计划，其中包括免费的大爆米花，该公司股价上涨了95%以上，达到62.55美元的历史新高。第二天，一项出售1155万股股票的计划（最终以50.85美元的平均价格出售）导致AMC（股票代码：AMC）暴跌。</blockquote></p><p> Even with Thursday’s decline, the stock has soared 297% over the past nine trading sessions, and is up an eye-popping 2,160% for the year.</p><p><blockquote>尽管周四下跌，该股在过去九个交易日中仍飙升了297%，今年以来上涨了令人瞠目结舌的2,160%。</blockquote></p><p> After&nbsp;GameStop(GME) and&nbsp;BlackBerry(BB), there seems to be little stopping the latest hot meme stock,not even a warning from AMC itself: “Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company said on Thursday in the filing to sell the shares.</p><p><blockquote>继游戏驿站(GME)和黑莓(BB)之后，似乎没有什么能阻止最新的热门模因股票，甚至AMC本身也没有发出警告：“在这种情况下，我们警告您不要投资我们的A类普通股，除非你准备承担损失全部或大部分投资的风险，”该公司周四在出售股票的文件中表示。</blockquote></p><p> Earlier in the week, AMC sold 8.5 million shares to investment firm Mudrick Capital Management, which sold its stake at a profit that same day,Bloomberg reported. AMC called it a “very smart raising of cash so that we can grow this company.”</p><p><blockquote>据彭博社报道，本周早些时候，AMC向投资公司Mudrick Capital Management出售了850万股股票，该公司当天出售了其股份并获利。AMC称其为“非常明智的现金筹集，以便我们能够发展这家公司。”</blockquote></p><p> More dilution could be coming. The company will ask shareholders to authorize the sale of an additional 25 million shares, starting in 2022, at its annual meeting next month.</p><p><blockquote>更多的稀释可能会到来。该公司将在下个月的年会上要求股东授权从2022年开始额外出售2500万股股票。</blockquote></p><p> Despite the unusual warning and the dilution, some users doubled down on their enthusiasm for the stock in online forums this past week, noting that GameStop experienced similar volatility during its January rise. That just confounds and outrages traditional investors.</p><p><blockquote>尽管出现了不寻常的警告和稀释，一些用户上周在在线论坛上加倍了对该股的热情，并指出游戏驿站在1月份的上涨期间也经历了类似的波动。这只会让传统投资者感到困惑和愤怒。</blockquote></p><p> “The surge in shares of AMC Entertainment is yet another sign of the reckless meme-stock-driven investing landscape that we find ourselves in today,” David Trainer, CEO of investment research firm New Constructs, recently wrote. “Wall Street insiders are preying on the naiveté of retail meme-stock traders. There is no fundamental reason to be buying shares of AMC Entertainment.”</p><p><blockquote>投资研究公司New Constructs首席执行官大卫·特雷纳(David Trainer)最近写道：“AMC院线股价的飙升是我们今天所处的鲁莽模因股票驱动的投资格局的又一个迹象。”“华尔街内部人士正在利用散户模因股票交易员的天真。没有根本理由购买AMC院线股票。”</blockquote></p><p> Trying to identify a fundamental narrative that can justify AMC’s ascent is admittedly difficult. Still, it is an exercise that might provide some insights for investors.</p><p><blockquote>诚然，试图找到一个能够证明AMC崛起合理性的基本叙述是很困难的。尽管如此，这项工作可能会为投资者提供一些见解。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/62d362d944fe5c0a23bee485799d1195\" tg-width=\"956\" tg-height=\"637\"></p><p><blockquote></blockquote></p><p> With the recent share sale, AMC has an enterprise value of about $35 billion, almost six times what it was at the end of 2018, a record-breaking year at the U.S. box office. At that time, the enterprise value for the three largest publicly traded theater operators was about 1.6 times the total domestic box office. (Theater chains typically have a lot of debt, making enterprise value a better measure.)</p><p><blockquote>随着最近的股票出售，AMC的企业价值约为350亿美元，几乎是2018年底的六倍，这是美国票房破纪录的一年。当时，三家最大的公开交易影院运营商的企业价值约为国内总票房的1.6倍。（影院连锁店通常有很多债务，这使得企业价值成为更好的衡量标准。）</blockquote></p><p> AMC’s enterprise value is now about 17 times the dreadful, pandemic-affected domestic box office haul of just $2.1 billion in 2020.</p><p><blockquote>AMC的企业价值目前约为2020年受疫情影响的国内票房收入21亿美元的17倍。</blockquote></p><p> Roughly two-thirds of sales typically come from tickets. The rest comes from soda and, yes, popcorn. The challenge for the industry is whether enough moviegoers return and spend as they did before, after a year of staying home and streaming.</p><p><blockquote>大约三分之二的销售额通常来自门票。其余的来自苏打水，是的，还有爆米花。该行业面临的挑战是，在呆在家里看流媒体一年后，是否有足够多的电影观众像以前一样回来消费。</blockquote></p><p> The business might go through a period of consolidation, as it did earlier this century, when a shift to stadium seating pushed some operators into bankruptcy and mergers. Regal Cinemas, one of the large U.S. theater chains, filed for bankruptcy in 2001. Coming out of bankruptcy, Regal became a cash-generating machine—fewer movie-theater operators helped. And fewer now could usher in another era of higher returns on investment and better cash generation.</p><p><blockquote>该业务可能会经历一段整合期，就像本世纪初那样，当时转向体育场座位迫使一些运营商破产和合并。富豪影院是美国大型连锁影院之一，于2001年申请破产。摆脱破产后，富豪成为了一台现金产生机——更少的电影院运营商提供了帮助。现在更少的人可能会迎来另一个更高投资回报和更好现金生成的时代。</blockquote></p><p> Indeed, the hope is that AMC could be opportunistic in&nbsp;the postpandemic world, perhaps by making acquisitions. The recent gains in the stock have made that hope self-fulfilling, allowing the company to raise new capital—$1.25 billion through stock sales in this quarter alone.</p><p><blockquote>事实上，人们希望AMC能够在大流行后的世界中抓住机会，也许是通过收购。该股最近的上涨使这一希望得以自我实现，使该公司仅在本季度就通过股票销售筹集了12.5亿美元的新资本。</blockquote></p><p> “With our increased liquidity, an increasingly vaccinated population, and the imminent release of blockbuster new movie titles, it is time for AMC to go on the offense again,” CEO Adam Aron said this past Tuesday.</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)上周二表示：“随着流动性的增加、疫苗接种人口的增加以及大片新电影即将上映，AMC是时候再次进攻了。”</blockquote></p><p> If AMC can boost market share, and if U.S. box office sales return to 2018 levels, the company’s total sales might hit $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 were $5.5 billion.</p><p><blockquote>如果AMC能够提高市场份额，如果美国票房收入恢复到2018年的水平，该公司的总销售额可能会达到90亿美元——60亿美元的门票收入和30亿美元的特许权收入。2018年销售额为55亿美元。</blockquote></p><p> Then, if profit margins improve with better industry scale, and if AMC’s investment in new theaters can drop as new capacity isn’t really needed, the company might be able to generate $600 million in free cash flow annually. That is about three times the cash-generating potential of prior, prepandemic years.</p><p><blockquote>然后，如果利润率随着行业规模的扩大而提高，并且AMC对新影院的投资因不真正需要新产能而下降，那么该公司每年可能能够产生6亿美元的自由现金流。这大约是大流行前几年现金产生潜力的三倍。</blockquote></p><p></p><p> With $600 million in free cash flow, the stock’s free-cash-flow yield works out to about 2.4%, based on recent prices. That yield makes the stock look expensive, but not completely unreasonable. The&nbsp;S&amp;P 500&nbsp;index trades for about a 3.4% free-cash-flow yield; other consumer-discretionary stocks in the S&amp;P trade at a free-cash-flow yield of about 3.1%.</p><p><blockquote>凭借6亿美元的自由现金流，根据最近的价格，该股的自由现金流收益率约为2.4%。这一收益率使该股票看起来很昂贵，但并非完全不合理。标准普尔500指数的自由现金流收益率约为3.4%；标准普尔其他非必需消费品股票的自由现金流收益率约为3.1%。</blockquote></p><p> While that may offer a faint glimmer of hope for fundamental investors, there are problems with the $600 million free-cash-flow scenario. There are a lot of ifs and mights—and AMC has never generated cash flow like that in the past.</p><p><blockquote>虽然这可能会给基本面投资者带来一线希望，但6亿美元的自由现金流情景存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。</blockquote></p><p> Consolidation in the industry is also no guarantee of success. AMC’s share of the market might rise, but there are still competitors: Regal Cinemas, now owned by&nbsp;Cineworld Group(CINE.UK), and&nbsp;Cinemark Holdings(CNK).</p><p><blockquote>行业整合也不能保证成功。AMC的市场份额可能会上升，但仍然存在竞争对手：现归Cineworld Group(CINE.UK)所有的Regal Cinemas和Cinemark Holdings(CNK)。</blockquote></p><p> Neither one is trading like AMC: Cineworld stock is up 283% from its 52-week low, but is off 78% from all-time highs, while Cinemark shares are up 183% from their 52-week low, but down 51% from their all-time high. AMC stock, by comparison, is up 2,320% from its 52-week low.</p><p><blockquote>两家公司的交易情况都不如AMC：Cineworld股价较52周低点上涨283%，但较历史高点下跌78%，而Cinemark股价较52周低点上涨183%，但下跌51%从他们的历史高点。相比之下，AMC股价较52周低点上涨2,320%。</blockquote></p><p> And AMC and its peers also have to compete with streaming. Windows for exclusive theater showings are shrinking, and the pandemic has accelerated that.</p><p><blockquote>AMC及其同行也必须与流媒体竞争。独家影院放映的窗口正在缩小，而疫情加速了这一趋势。</blockquote></p><p> Wall Street doesn’t see the potential. Ten analysts cover the stock, and the average price target is $5.25. The highest is $18 a share. Before the pandemic, the average analyst price target was $15. There were fewer shares of AMC at the time. The old target prices implied an enterprise value of roughly $7 billion—a far cry from $35 billion.</p><p><blockquote>华尔街看不到潜力。10名分析师关注该股，平均目标价为5.25美元。最高为每股18美元。在疫情爆发之前，分析师的平均目标价为15美元。当时AMC的股票较少。旧的目标价意味着企业价值约为70亿美元，与350亿美元相去甚远。</blockquote></p><p> Analysts do, however, have positive free cash flow projected for AMC in the future—about $13 million in 2022 and $90 million in 2023.</p><p><blockquote>然而，分析师确实预计AMC未来的自由现金流为正——2022年约为1300万美元，2023年约为9000万美元。</blockquote></p><p> At these levels, the fundamental case for AMC stock is, to put it mildly, a stretch. Yet overvaluation alone is never a good reason to sell a stock short, betting on a price decline. High numbers of shares shorted are typically an element in the meme-fueled rises. These days, the risk of&nbsp;short squeezes&nbsp;has become far larger than the potential gain from the market realizing that a stock is too expensive.</p><p><blockquote>在这些水平上，温和地说，AMC股票的基本情况是一种延伸。然而，仅仅估值过高从来都不是卖空股票、押注价格下跌的好理由。大量股票被做空通常是模因推动的上涨的一个因素。如今，轧空的风险已经远远大于市场意识到股票太贵的潜在收益。</blockquote></p><p> In the end, investing and trading are different skills. Both can make people money. The important thing is not to confuse the two.</p><p><blockquote>归根结底，投资和交易是不同的技能。两者都能让人赚钱。重要的是不要混淆这两者。</blockquote></p><p> AMC investors may understand that. “I think that for most of the retail investors that you see buying quote-unquote meme stocks, it really is to prove a point,” says Natalie Camacho, a 27-year-old writer from California’s San Fernando Valley.</p><p><blockquote>AMC投资者可能明白这一点。来自加利福尼亚州圣费尔南多谷的27岁作家娜塔莉·卡马乔(Natalie Camacho)表示：“我认为，对于大多数购买报价未报价模因股票的散户投资者来说，这确实是为了证明一个观点。”</blockquote></p><p> She says she bought 11 shares of AMC in January for $100 as the meme-stock wave began to build. She expected the company to benefit by the reopening from Covid-19.</p><p><blockquote>她表示，随着模因股票浪潮开始兴起，她在1月份以100美元的价格购买了11股AMC股票。她预计该公司将受益于Covid-19的重新开业。</blockquote></p><p> Camacho says that she had felt as if the world of investing was closed to her, because she didn’t have $10,000 to put into stocks. On social media, the AMC trade has been portrayed as a battle of the little guys against the big Wall Street firms, which appeals to her.</p><p><blockquote>卡马乔说，她觉得投资世界对她关闭了，因为她没有10,000美元可以投资股票。在社交媒体上，AMC的交易被描绘成小人物与华尔街大公司的战斗，这对她很有吸引力。</blockquote></p><p> “What draws me to it is that communal sense, that we’re all in this together,” she says. “There’s a sense that if we pool our money together, we might not be rich, but we’ll have enough to make a difference.”</p><p><blockquote>“吸引我的是那种社区意识，我们都在一起，”她说。“有一种感觉，如果我们把钱集中在一起，我们可能不会富有，但我们将有足够的钱来改变现状。”</blockquote></p><p> Regardless of how it plays out, she is betting with money she can afford to lose. As of Thursday morning, her $100 investment had grown to $460. “Maybe it’s a long-term bad idea, but for now we’re holding,” she says.</p><p><blockquote>不管结果如何，她都在用她输得起的钱下注。截至周四上午，她的100美元投资已增至460美元。“也许从长远来看这是一个坏主意，但目前我们坚持下去，”她说。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Stock Is Up 3,100%. Should You Buy or Sell?<blockquote>AMC股价上涨3,100%。你应该买还是卖？</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\">\nAMC Stock Is Up 3,100%. Should You Buy or Sell?<blockquote>AMC股价上涨3,100%。你应该买还是卖？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-05 08:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d95919779e01e359f19f34476e91d00\" tg-width=\"1260\" tg-height=\"840\"><span>Photo illustration by Chris Mihal / Dreamstime.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>照片插图由Chris Mihal/Dreamstime.com提供</span></p></blockquote></p><p> In a market like this, popcorn can become a Buy signal.</p><p><blockquote>在这样的市场中，爆米花可以成为买入信号。</blockquote></p><p> Shares of AMC Entertainment Holdings jumped more than 95% to an all-time high of $62.55 this past Wednesday after the movie-theater chain announced a new rewards program for shareholders that includes a free large popcorn. The next day, a plan to sell 11.55 million shares (which eventually sold at an average price of $50.85) sent AMC (ticker: AMC) tumbling.</p><p><blockquote>上周三，AMC院线控股公司宣布了一项新的股东奖励计划，其中包括免费的大爆米花，该公司股价上涨了95%以上，达到62.55美元的历史新高。第二天，一项出售1155万股股票的计划（最终以50.85美元的平均价格出售）导致AMC（股票代码：AMC）暴跌。</blockquote></p><p> Even with Thursday’s decline, the stock has soared 297% over the past nine trading sessions, and is up an eye-popping 2,160% for the year.</p><p><blockquote>尽管周四下跌，该股在过去九个交易日中仍飙升了297%，今年以来上涨了令人瞠目结舌的2,160%。</blockquote></p><p> After&nbsp;GameStop(GME) and&nbsp;BlackBerry(BB), there seems to be little stopping the latest hot meme stock,not even a warning from AMC itself: “Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company said on Thursday in the filing to sell the shares.</p><p><blockquote>继游戏驿站(GME)和黑莓(BB)之后，似乎没有什么能阻止最新的热门模因股票，甚至AMC本身也没有发出警告：“在这种情况下，我们警告您不要投资我们的A类普通股，除非你准备承担损失全部或大部分投资的风险，”该公司周四在出售股票的文件中表示。</blockquote></p><p> Earlier in the week, AMC sold 8.5 million shares to investment firm Mudrick Capital Management, which sold its stake at a profit that same day,Bloomberg reported. AMC called it a “very smart raising of cash so that we can grow this company.”</p><p><blockquote>据彭博社报道，本周早些时候，AMC向投资公司Mudrick Capital Management出售了850万股股票，该公司当天出售了其股份并获利。AMC称其为“非常明智的现金筹集，以便我们能够发展这家公司。”</blockquote></p><p> More dilution could be coming. The company will ask shareholders to authorize the sale of an additional 25 million shares, starting in 2022, at its annual meeting next month.</p><p><blockquote>更多的稀释可能会到来。该公司将在下个月的年会上要求股东授权从2022年开始额外出售2500万股股票。</blockquote></p><p> Despite the unusual warning and the dilution, some users doubled down on their enthusiasm for the stock in online forums this past week, noting that GameStop experienced similar volatility during its January rise. That just confounds and outrages traditional investors.</p><p><blockquote>尽管出现了不寻常的警告和稀释，一些用户上周在在线论坛上加倍了对该股的热情，并指出游戏驿站在1月份的上涨期间也经历了类似的波动。这只会让传统投资者感到困惑和愤怒。</blockquote></p><p> “The surge in shares of AMC Entertainment is yet another sign of the reckless meme-stock-driven investing landscape that we find ourselves in today,” David Trainer, CEO of investment research firm New Constructs, recently wrote. “Wall Street insiders are preying on the naiveté of retail meme-stock traders. There is no fundamental reason to be buying shares of AMC Entertainment.”</p><p><blockquote>投资研究公司New Constructs首席执行官大卫·特雷纳(David Trainer)最近写道：“AMC院线股价的飙升是我们今天所处的鲁莽模因股票驱动的投资格局的又一个迹象。”“华尔街内部人士正在利用散户模因股票交易员的天真。没有根本理由购买AMC院线股票。”</blockquote></p><p> Trying to identify a fundamental narrative that can justify AMC’s ascent is admittedly difficult. Still, it is an exercise that might provide some insights for investors.</p><p><blockquote>诚然，试图找到一个能够证明AMC崛起合理性的基本叙述是很困难的。尽管如此，这项工作可能会为投资者提供一些见解。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/62d362d944fe5c0a23bee485799d1195\" tg-width=\"956\" tg-height=\"637\"></p><p><blockquote></blockquote></p><p> With the recent share sale, AMC has an enterprise value of about $35 billion, almost six times what it was at the end of 2018, a record-breaking year at the U.S. box office. At that time, the enterprise value for the three largest publicly traded theater operators was about 1.6 times the total domestic box office. (Theater chains typically have a lot of debt, making enterprise value a better measure.)</p><p><blockquote>随着最近的股票出售，AMC的企业价值约为350亿美元，几乎是2018年底的六倍，这是美国票房破纪录的一年。当时，三家最大的公开交易影院运营商的企业价值约为国内总票房的1.6倍。（影院连锁店通常有很多债务，这使得企业价值成为更好的衡量标准。）</blockquote></p><p> AMC’s enterprise value is now about 17 times the dreadful, pandemic-affected domestic box office haul of just $2.1 billion in 2020.</p><p><blockquote>AMC的企业价值目前约为2020年受疫情影响的国内票房收入21亿美元的17倍。</blockquote></p><p> Roughly two-thirds of sales typically come from tickets. The rest comes from soda and, yes, popcorn. The challenge for the industry is whether enough moviegoers return and spend as they did before, after a year of staying home and streaming.</p><p><blockquote>大约三分之二的销售额通常来自门票。其余的来自苏打水，是的，还有爆米花。该行业面临的挑战是，在呆在家里看流媒体一年后，是否有足够多的电影观众像以前一样回来消费。</blockquote></p><p> The business might go through a period of consolidation, as it did earlier this century, when a shift to stadium seating pushed some operators into bankruptcy and mergers. Regal Cinemas, one of the large U.S. theater chains, filed for bankruptcy in 2001. Coming out of bankruptcy, Regal became a cash-generating machine—fewer movie-theater operators helped. And fewer now could usher in another era of higher returns on investment and better cash generation.</p><p><blockquote>该业务可能会经历一段整合期，就像本世纪初那样，当时转向体育场座位迫使一些运营商破产和合并。富豪影院是美国大型连锁影院之一，于2001年申请破产。摆脱破产后，富豪成为了一台现金产生机——更少的电影院运营商提供了帮助。现在更少的人可能会迎来另一个更高投资回报和更好现金生成的时代。</blockquote></p><p> Indeed, the hope is that AMC could be opportunistic in&nbsp;the postpandemic world, perhaps by making acquisitions. The recent gains in the stock have made that hope self-fulfilling, allowing the company to raise new capital—$1.25 billion through stock sales in this quarter alone.</p><p><blockquote>事实上，人们希望AMC能够在大流行后的世界中抓住机会，也许是通过收购。该股最近的上涨使这一希望得以自我实现，使该公司仅在本季度就通过股票销售筹集了12.5亿美元的新资本。</blockquote></p><p> “With our increased liquidity, an increasingly vaccinated population, and the imminent release of blockbuster new movie titles, it is time for AMC to go on the offense again,” CEO Adam Aron said this past Tuesday.</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)上周二表示：“随着流动性的增加、疫苗接种人口的增加以及大片新电影即将上映，AMC是时候再次进攻了。”</blockquote></p><p> If AMC can boost market share, and if U.S. box office sales return to 2018 levels, the company’s total sales might hit $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 were $5.5 billion.</p><p><blockquote>如果AMC能够提高市场份额，如果美国票房收入恢复到2018年的水平，该公司的总销售额可能会达到90亿美元——60亿美元的门票收入和30亿美元的特许权收入。2018年销售额为55亿美元。</blockquote></p><p> Then, if profit margins improve with better industry scale, and if AMC’s investment in new theaters can drop as new capacity isn’t really needed, the company might be able to generate $600 million in free cash flow annually. That is about three times the cash-generating potential of prior, prepandemic years.</p><p><blockquote>然后，如果利润率随着行业规模的扩大而提高，并且AMC对新影院的投资因不真正需要新产能而下降，那么该公司每年可能能够产生6亿美元的自由现金流。这大约是大流行前几年现金产生潜力的三倍。</blockquote></p><p></p><p> With $600 million in free cash flow, the stock’s free-cash-flow yield works out to about 2.4%, based on recent prices. That yield makes the stock look expensive, but not completely unreasonable. The&nbsp;S&amp;P 500&nbsp;index trades for about a 3.4% free-cash-flow yield; other consumer-discretionary stocks in the S&amp;P trade at a free-cash-flow yield of about 3.1%.</p><p><blockquote>凭借6亿美元的自由现金流，根据最近的价格，该股的自由现金流收益率约为2.4%。这一收益率使该股票看起来很昂贵，但并非完全不合理。标准普尔500指数的自由现金流收益率约为3.4%；标准普尔其他非必需消费品股票的自由现金流收益率约为3.1%。</blockquote></p><p> While that may offer a faint glimmer of hope for fundamental investors, there are problems with the $600 million free-cash-flow scenario. There are a lot of ifs and mights—and AMC has never generated cash flow like that in the past.</p><p><blockquote>虽然这可能会给基本面投资者带来一线希望，但6亿美元的自由现金流情景存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。</blockquote></p><p> Consolidation in the industry is also no guarantee of success. AMC’s share of the market might rise, but there are still competitors: Regal Cinemas, now owned by&nbsp;Cineworld Group(CINE.UK), and&nbsp;Cinemark Holdings(CNK).</p><p><blockquote>行业整合也不能保证成功。AMC的市场份额可能会上升，但仍然存在竞争对手：现归Cineworld Group(CINE.UK)所有的Regal Cinemas和Cinemark Holdings(CNK)。</blockquote></p><p> Neither one is trading like AMC: Cineworld stock is up 283% from its 52-week low, but is off 78% from all-time highs, while Cinemark shares are up 183% from their 52-week low, but down 51% from their all-time high. AMC stock, by comparison, is up 2,320% from its 52-week low.</p><p><blockquote>两家公司的交易情况都不如AMC：Cineworld股价较52周低点上涨283%，但较历史高点下跌78%，而Cinemark股价较52周低点上涨183%，但下跌51%从他们的历史高点。相比之下，AMC股价较52周低点上涨2,320%。</blockquote></p><p> And AMC and its peers also have to compete with streaming. Windows for exclusive theater showings are shrinking, and the pandemic has accelerated that.</p><p><blockquote>AMC及其同行也必须与流媒体竞争。独家影院放映的窗口正在缩小，而疫情加速了这一趋势。</blockquote></p><p> Wall Street doesn’t see the potential. Ten analysts cover the stock, and the average price target is $5.25. The highest is $18 a share. Before the pandemic, the average analyst price target was $15. There were fewer shares of AMC at the time. The old target prices implied an enterprise value of roughly $7 billion—a far cry from $35 billion.</p><p><blockquote>华尔街看不到潜力。10名分析师关注该股，平均目标价为5.25美元。最高为每股18美元。在疫情爆发之前，分析师的平均目标价为15美元。当时AMC的股票较少。旧的目标价意味着企业价值约为70亿美元，与350亿美元相去甚远。</blockquote></p><p> Analysts do, however, have positive free cash flow projected for AMC in the future—about $13 million in 2022 and $90 million in 2023.</p><p><blockquote>然而，分析师确实预计AMC未来的自由现金流为正——2022年约为1300万美元，2023年约为9000万美元。</blockquote></p><p> At these levels, the fundamental case for AMC stock is, to put it mildly, a stretch. Yet overvaluation alone is never a good reason to sell a stock short, betting on a price decline. High numbers of shares shorted are typically an element in the meme-fueled rises. These days, the risk of&nbsp;short squeezes&nbsp;has become far larger than the potential gain from the market realizing that a stock is too expensive.</p><p><blockquote>在这些水平上，温和地说，AMC股票的基本情况是一种延伸。然而，仅仅估值过高从来都不是卖空股票、押注价格下跌的好理由。大量股票被做空通常是模因推动的上涨的一个因素。如今，轧空的风险已经远远大于市场意识到股票太贵的潜在收益。</blockquote></p><p> In the end, investing and trading are different skills. Both can make people money. The important thing is not to confuse the two.</p><p><blockquote>归根结底，投资和交易是不同的技能。两者都能让人赚钱。重要的是不要混淆这两者。</blockquote></p><p> AMC investors may understand that. “I think that for most of the retail investors that you see buying quote-unquote meme stocks, it really is to prove a point,” says Natalie Camacho, a 27-year-old writer from California’s San Fernando Valley.</p><p><blockquote>AMC投资者可能明白这一点。来自加利福尼亚州圣费尔南多谷的27岁作家娜塔莉·卡马乔(Natalie Camacho)表示：“我认为，对于大多数购买报价未报价模因股票的散户投资者来说，这确实是为了证明一个观点。”</blockquote></p><p> She says she bought 11 shares of AMC in January for $100 as the meme-stock wave began to build. She expected the company to benefit by the reopening from Covid-19.</p><p><blockquote>她表示，随着模因股票浪潮开始兴起，她在1月份以100美元的价格购买了11股AMC股票。她预计该公司将受益于Covid-19的重新开业。</blockquote></p><p> Camacho says that she had felt as if the world of investing was closed to her, because she didn’t have $10,000 to put into stocks. On social media, the AMC trade has been portrayed as a battle of the little guys against the big Wall Street firms, which appeals to her.</p><p><blockquote>卡马乔说，她觉得投资世界对她关闭了，因为她没有10,000美元可以投资股票。在社交媒体上，AMC的交易被描绘成小人物与华尔街大公司的战斗，这对她很有吸引力。</blockquote></p><p> “What draws me to it is that communal sense, that we’re all in this together,” she says. “There’s a sense that if we pool our money together, we might not be rich, but we’ll have enough to make a difference.”</p><p><blockquote>“吸引我的是那种社区意识，我们都在一起，”她说。“有一种感觉，如果我们把钱集中在一起，我们可能不会富有，但我们将有足够的钱来改变现状。”</blockquote></p><p> Regardless of how it plays out, she is betting with money she can afford to lose. As of Thursday morning, her $100 investment had grown to $460. “Maybe it’s a long-term bad idea, but for now we’re holding,” she says.</p><p><blockquote>不管结果如何，她都在用她输得起的钱下注。截至周四上午，她的100美元投资已增至460美元。“也许从长远来看这是一个坏主意，但目前我们坚持下去，”她说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buy-sell-amc-stock-51622844305?mod=hp_LEAD_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/buy-sell-amc-stock-51622844305?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132937041","content_text":"Photo illustration by Chris Mihal / Dreamstime.com\nIn a market like this, popcorn can become a Buy signal.\nShares of AMC Entertainment Holdings jumped more than 95% to an all-time high of $62.55 this past Wednesday after the movie-theater chain announced a new rewards program for shareholders that includes a free large popcorn. The next day, a plan to sell 11.55 million shares (which eventually sold at an average price of $50.85) sent AMC (ticker: AMC) tumbling.\nEven with Thursday’s decline, the stock has soared 297% over the past nine trading sessions, and is up an eye-popping 2,160% for the year.\nAfter GameStop(GME) and BlackBerry(BB), there seems to be little stopping the latest hot meme stock,not even a warning from AMC itself: “Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company said on Thursday in the filing to sell the shares.\nEarlier in the week, AMC sold 8.5 million shares to investment firm Mudrick Capital Management, which sold its stake at a profit that same day,Bloomberg reported. AMC called it a “very smart raising of cash so that we can grow this company.”\nMore dilution could be coming. The company will ask shareholders to authorize the sale of an additional 25 million shares, starting in 2022, at its annual meeting next month.\nDespite the unusual warning and the dilution, some users doubled down on their enthusiasm for the stock in online forums this past week, noting that GameStop experienced similar volatility during its January rise. That just confounds and outrages traditional investors.\n“The surge in shares of AMC Entertainment is yet another sign of the reckless meme-stock-driven investing landscape that we find ourselves in today,” David Trainer, CEO of investment research firm New Constructs, recently wrote. “Wall Street insiders are preying on the naiveté of retail meme-stock traders. There is no fundamental reason to be buying shares of AMC Entertainment.”\nTrying to identify a fundamental narrative that can justify AMC’s ascent is admittedly difficult. Still, it is an exercise that might provide some insights for investors.\n\nWith the recent share sale, AMC has an enterprise value of about $35 billion, almost six times what it was at the end of 2018, a record-breaking year at the U.S. box office. At that time, the enterprise value for the three largest publicly traded theater operators was about 1.6 times the total domestic box office. (Theater chains typically have a lot of debt, making enterprise value a better measure.)\nAMC’s enterprise value is now about 17 times the dreadful, pandemic-affected domestic box office haul of just $2.1 billion in 2020.\nRoughly two-thirds of sales typically come from tickets. The rest comes from soda and, yes, popcorn. The challenge for the industry is whether enough moviegoers return and spend as they did before, after a year of staying home and streaming.\nThe business might go through a period of consolidation, as it did earlier this century, when a shift to stadium seating pushed some operators into bankruptcy and mergers. Regal Cinemas, one of the large U.S. theater chains, filed for bankruptcy in 2001. Coming out of bankruptcy, Regal became a cash-generating machine—fewer movie-theater operators helped. And fewer now could usher in another era of higher returns on investment and better cash generation.\nIndeed, the hope is that AMC could be opportunistic in the postpandemic world, perhaps by making acquisitions. The recent gains in the stock have made that hope self-fulfilling, allowing the company to raise new capital—$1.25 billion through stock sales in this quarter alone.\n“With our increased liquidity, an increasingly vaccinated population, and the imminent release of blockbuster new movie titles, it is time for AMC to go on the offense again,” CEO Adam Aron said this past Tuesday.\nIf AMC can boost market share, and if U.S. box office sales return to 2018 levels, the company’s total sales might hit $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 were $5.5 billion.\nThen, if profit margins improve with better industry scale, and if AMC’s investment in new theaters can drop as new capacity isn’t really needed, the company might be able to generate $600 million in free cash flow annually. That is about three times the cash-generating potential of prior, prepandemic years.\nWith $600 million in free cash flow, the stock’s free-cash-flow yield works out to about 2.4%, based on recent prices. That yield makes the stock look expensive, but not completely unreasonable. The S&P 500 index trades for about a 3.4% free-cash-flow yield; other consumer-discretionary stocks in the S&P trade at a free-cash-flow yield of about 3.1%.\nWhile that may offer a faint glimmer of hope for fundamental investors, there are problems with the $600 million free-cash-flow scenario. There are a lot of ifs and mights—and AMC has never generated cash flow like that in the past.\nConsolidation in the industry is also no guarantee of success. AMC’s share of the market might rise, but there are still competitors: Regal Cinemas, now owned by Cineworld Group(CINE.UK), and Cinemark Holdings(CNK).\nNeither one is trading like AMC: Cineworld stock is up 283% from its 52-week low, but is off 78% from all-time highs, while Cinemark shares are up 183% from their 52-week low, but down 51% from their all-time high. AMC stock, by comparison, is up 2,320% from its 52-week low.\nAnd AMC and its peers also have to compete with streaming. Windows for exclusive theater showings are shrinking, and the pandemic has accelerated that.\nWall Street doesn’t see the potential. Ten analysts cover the stock, and the average price target is $5.25. The highest is $18 a share. Before the pandemic, the average analyst price target was $15. There were fewer shares of AMC at the time. The old target prices implied an enterprise value of roughly $7 billion—a far cry from $35 billion.\nAnalysts do, however, have positive free cash flow projected for AMC in the future—about $13 million in 2022 and $90 million in 2023.\nAt these levels, the fundamental case for AMC stock is, to put it mildly, a stretch. Yet overvaluation alone is never a good reason to sell a stock short, betting on a price decline. High numbers of shares shorted are typically an element in the meme-fueled rises. These days, the risk of short squeezes has become far larger than the potential gain from the market realizing that a stock is too expensive.\nIn the end, investing and trading are different skills. Both can make people money. The important thing is not to confuse the two.\nAMC investors may understand that. “I think that for most of the retail investors that you see buying quote-unquote meme stocks, it really is to prove a point,” says Natalie Camacho, a 27-year-old writer from California’s San Fernando Valley.\nShe says she bought 11 shares of AMC in January for $100 as the meme-stock wave began to build. She expected the company to benefit by the reopening from Covid-19.\nCamacho says that she had felt as if the world of investing was closed to her, because she didn’t have $10,000 to put into stocks. On social media, the AMC trade has been portrayed as a battle of the little guys against the big Wall Street firms, which appeals to her.\n“What draws me to it is that communal sense, that we’re all in this together,” she says. “There’s a sense that if we pool our money together, we might not be rich, but we’ll have enough to make a difference.”\nRegardless of how it plays out, she is betting with money she can afford to lose. As of Thursday morning, her $100 investment had grown to $460. “Maybe it’s a long-term bad idea, but for now we’re holding,” she says.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":2695,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110376534,"gmtCreate":1622427756028,"gmtModify":1634101563412,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Bubble finally starts to burst","listText":"Bubble finally starts to burst","text":"Bubble finally starts to burst","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/110376534","repostId":"2139438981","repostType":4,"isVote":1,"tweetType":1,"viewCount":1110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137978622,"gmtCreate":1622292472466,"gmtModify":1634102481838,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Noise","listText":"Noise","text":"Noise","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/137978622","repostId":"2138765488","repostType":4,"isVote":1,"tweetType":1,"viewCount":1792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":134156979,"gmtCreate":1622212334991,"gmtModify":1634182773533,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Currently it is worth between $19 to 20","listText":"Currently it is worth between $19 to 20","text":"Currently it is worth between $19 to 20","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/134156979","repostId":"1157072297","repostType":2,"isVote":1,"tweetType":1,"viewCount":1262,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":136728819,"gmtCreate":1622040542531,"gmtModify":1634184406105,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"A prof from value school of thought will never understand growth stock, until tsla becomes a value stock. By then, the price would have been over few thousand&nbsp;","listText":"A prof from value school of thought will never understand growth stock, until tsla becomes a value stock. By then, the price would have been over few thousand&nbsp;","text":"A prof from value school of thought will never understand growth stock, until tsla becomes a value stock. By then, the price would have been over few thousand","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/136728819","repostId":"2138486271","repostType":4,"isVote":1,"tweetType":1,"viewCount":608,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101798741,"gmtCreate":1619939939783,"gmtModify":1634208964357,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/101798741","repostId":"1103106179","repostType":4,"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109608750,"gmtCreate":1619687269470,"gmtModify":1634210719856,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Break the $50 barrier","listText":"Break the $50 barrier","text":"Break the $50 barrier","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/109608750","repostId":"1183966356","repostType":4,"repost":{"id":"1183966356","kind":"news","pubTimestamp":1619665696,"share":"https://www.laohu8.com/m/news/1183966356?lang=zh_CN&edition=full","pubTime":"2021-04-29 11:08","market":"us","language":"en","title":"NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183966356","media":"InvestoPedia","summary":"Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.Revenue is expected to soar on expanding vehicle sales.NIO Inc. , like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles . NIO's production stoppage in late March had little impact on the company's record ve","content":"<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>","source":"lsy1606203311635","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 Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</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 Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestoPedia</strong><span class=\"h-time small\">2021-04-29 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991\">InvestoPedia</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":{"NIO":"蔚来"},"source_url":"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183966356","content_text":"Focus on NIO vehicle deliveries\nKEY TAKEAWAYS\n\nAnalysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.\nVehicle deliveries, already announced, rose dramatically YOY.\nRevenue is expected to soar on expanding vehicle sales.\n\nNIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.\nInvestors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.\nVehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.\nShares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&P 500's total return of 45.5%.\nSource: TradingView.\nNIO Earnings History\nThe stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's Q4 FY 2020 earnings report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its gross margin rose to 17.2% compared to negative 8.9% in the year-ago quarter.\nIn Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.\nAnalysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.\nSource: Visible Alpha; NIO Inc.\nThe Key Metric\nAs mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.\nNIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":624,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100293250,"gmtCreate":1619615263770,"gmtModify":1631884328634,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Hope NIO does not suffer the same fate as tesla","listText":"Hope NIO does not suffer the same fate as tesla","text":"Hope NIO does not suffer the same fate as 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noise.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/100603153","repostId":"1152045902","repostType":4,"isVote":1,"tweetType":1,"viewCount":396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375994022,"gmtCreate":1619272850566,"gmtModify":1634287342571,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"lai liao lo","listText":"lai liao lo","text":"lai liao lo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/375994022","repostId":"1166519043","repostType":4,"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376588430,"gmtCreate":1619137057820,"gmtModify":1634288317591,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/376588430","repostId":"1139323495","repostType":4,"repost":{"id":"1139323495","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":1619080630,"share":"https://www.laohu8.com/m/news/1139323495?lang=zh_CN&edition=full","pubTime":"2021-04-22 16:37","market":"us","language":"en","title":"Coinbase fell 2% in pre-market<blockquote>Coinbase盘前跌2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1139323495","media":"Tiger Newspress","summary":"Coinbase fell 2% in pre-market，CAN fell 5% in pre-market.","content":"<p>Coinbase fell 2%&nbsp;in&nbsp;pre-market，CAN&nbsp;fell&nbsp;5%&nbsp;in&nbsp;pre-market.</p><p><blockquote>Coinbase盘前跌2%，CAN盘前跌5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a245b71687488605f955ec15303a9c6e\" tg-width=\"1292\" tg-height=\"611\"><img src=\"https://static.tigerbbs.com/bf893863a65371e5d47290aed551c857\" tg-width=\"1283\" tg-height=\"632\"></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>Coinbase fell 2% in pre-market<blockquote>Coinbase盘前跌2%</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\">\nCoinbase fell 2% in pre-market<blockquote>Coinbase盘前跌2%</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\">2021-04-22 16:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Coinbase fell 2%&nbsp;in&nbsp;pre-market，CAN&nbsp;fell&nbsp;5%&nbsp;in&nbsp;pre-market.</p><p><blockquote>Coinbase盘前跌2%，CAN盘前跌5%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a245b71687488605f955ec15303a9c6e\" tg-width=\"1292\" tg-height=\"611\"><img src=\"https://static.tigerbbs.com/bf893863a65371e5d47290aed551c857\" tg-width=\"1283\" tg-height=\"632\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc.","CAN":"嘉楠科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139323495","content_text":"Coinbase fell 2% in pre-market，CAN fell 5% in pre-market.","news_type":1,"symbols_score_info":{"CAN":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378452647,"gmtCreate":1619056858589,"gmtModify":1634288877806,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Times are bad","listText":"Times are bad","text":"Times are bad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/378452647","repostId":"2129808688","repostType":4,"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371446840,"gmtCreate":1618968006180,"gmtModify":1634289545209,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Buy at a sale","listText":"Buy at a sale","text":"Buy at a sale","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/371446840","repostId":"2129289138","repostType":4,"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371021278,"gmtCreate":1618894160694,"gmtModify":1631889558073,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"What goes down must come up (Disclaimer: Quality&nbsp;stocks)&nbsp;","listText":"What goes down must come up (Disclaimer: Quality&nbsp;stocks)&nbsp;","text":"What goes down must come up (Disclaimer: Quality stocks)","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/371021278","repostId":"2128689062","repostType":4,"isVote":1,"tweetType":1,"viewCount":696,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":345520554,"gmtCreate":1618324543378,"gmtModify":1634293701038,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Tesla up by 8% tonight&nbsp;","listText":"Tesla up by 8% tonight&nbsp;","text":"Tesla up by 8% tonight","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":1,"link":"https://laohu8.com/post/345520554","repostId":"1130111087","repostType":4,"repost":{"id":"1130111087","kind":"news","pubTimestamp":1618323084,"share":"https://www.laohu8.com/m/news/1130111087?lang=zh_CN&edition=full","pubTime":"2021-04-13 22:11","market":"us","language":"en","title":"Will Tesla Be the Next Apple? Here’s How Investors Can Play It<blockquote>特斯拉会成为下一个苹果吗？投资者可以这样玩</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130111087","media":"Barron's","summary":"Tesla’s stock may still have some juice left in it after all.Tesla stock (ticker: TSLA) has understa","content":"<p>Tesla’s&nbsp;stock may still have some juice left in it after all.</p><p><blockquote>毕竟，特斯拉的股票可能还有一些活力。</blockquote></p><p>Tesla stock (ticker: TSLA) has understandably struggled in 2021 after a meteoric 410% rise over the past year, but the shares jumped higher on Monday afteran analyst assertedthat Tesla could be the nextApple(AAPL).</p><p><blockquote>特斯拉股票（股票代码：TSLA）在过去一年大幅上涨410%后，在2021年陷入困境，这是可以理解的，但在一位分析师断言特斯拉可能成为下一个苹果(AAPL)后，该股周一大幅走高。</blockquote></p><p>When it comes to attracting attention from investors, it’s hard to beat an assertion that likens one of the market’s hottest, most controversial stocks to one of the world’s most admired, innovative companies.</p><p><blockquote>当谈到吸引投资者的注意力时，很难击败将市场上最热门、最具争议的股票之一比作世界上最受尊敬的创新公司之一的断言。</blockquote></p><p>But rather than dismissing the Cannacord note as the Wall Street-equivalent of clickbait, investors should instead focus on how the stock behaved in reaction to the assertion: Tesla rose 3.7%, to $701.98, on heavy volume, on Monday, while the broad market was moribund, with theS&amp;P 500 indexfalling slightly.</p><p><blockquote>但投资者不应该将Cannacord的票据视为华尔街的点击诱饵，而应该关注该股对这一说法的反应：特斯拉周一成交量大涨3.7%，至701.98美元，而大盘则陷入停滞，标准普尔500指数小幅下跌。</blockquote></p><p>That reinforces the notion that Tesla’s legions of passionate investors are just looking for a reason to love the stock even more. The Cannacord analyst,Jonathan Dorsheimer, backed up his bold assertion by noting that Tesla is involved in more than just cars, just like Apple does more than just make iPhones.</p><p><blockquote>这强化了这样一种观念：特斯拉大批热情的投资者只是在寻找一个更加热爱该股的理由。Cannacord分析师Jonathan Dorsheimer支持了他的大胆断言，他指出，特斯拉涉足的不仅仅是汽车，就像苹果不仅仅是制造iPhone一样。</blockquote></p><p>The Apple-like spin is admittedly aggressive, and maybe even a bit aspirational, but such is the nature of Tesla. Investors either believe in the vision of Tesla’s chief executive, Elon Musk, or they don’t. So far, it has paid to be a believer, and the stock’s Monday rally suggests that Tesla’s investors are looking for new reasons to be evangelical.</p><p><blockquote>苹果式的旋转不可否认是侵略性的，甚至可能有点渴望，但这就是特斯拉的本质。投资者要么相信特斯拉首席执行官Elon Musk的愿景，要么不相信。到目前为止，成为一名信徒是值得的，该股周一的上涨表明特斯拉的投资者正在寻找新的理由成为福音派。</blockquote></p><p>The reason to believe could come as early as April 26, when Tesla is scheduled to reports first-quarter earnings after the market closes. Should the stock surge, investors can shout hallelujah. Should the stock stumble, look for a baptism by fire.</p><p><blockquote>相信的理由最早可能出现在4月26日，届时特斯拉计划在收盘后公布第一季度收益。如果股价飙升，投资者可以大喊哈利路亚。如果股票下跌，就寻找火的洗礼。</blockquote></p><p>With Tesla’s stock around $725, aggressive investors could consider buying Tesla’s April $735call optionsthat expire April 30 for $37.50.</p><p><blockquote>由于特斯拉股价约为725美元，激进的投资者可以考虑以37.50美元的价格购买特斯拉4月份735美元的看涨期权，该期权将于4月30日到期。</blockquote></p><p>If the stock is at $800, the call is worth $65. Should the stock be below the strike price at expiration, the trade fails, though the call could be adjusted within the options market to keep it alive.</p><p><blockquote>如果股价为800美元，则看涨期权价值65美元。如果股票在到期时低于执行价格，交易就会失败，尽管可以在期权市场内调整看涨期权以保持其活力。</blockquote></p><p>During the past 52 weeks, Tesla stock has ranged from $134.76 to $900.40. So far this year, the stock is up about 3%, compared with a gain of 10% for the S&amp;P 500.</p><p><blockquote>在过去52周内，特斯拉股价从134.76美元到900.40美元不等。今年到目前为止，该股已上涨约3%，而标普500的涨幅为10%。</blockquote></p><p>The last time we mentioned Tesla was in early April, just before the company reported first-quarter vehicle deliveries.</p><p><blockquote>我们上次提到特斯拉是在四月初，就在该公司公布第一季度汽车交付量之前。</blockquote></p><p>We then suggested that investors sell Tesla’s May $500 or May $550 put options to trade delivery data when the stock was around $661.75. So far, the trade has worked well. The May $500 puts are trading at $3.50, down from $11, and the May $550 puts are trading at $6.85, down from $20.</p><p><blockquote>然后我们建议投资者卖出特斯拉5月500美元或5月550美元看跌期权，以在该股661.75美元左右时交易交割数据。到目前为止，这项交易运作良好。5月份500美元的看跌期权交易价格为3.50美元，低于11美元；5月份550美元的看跌期权交易价格为6.85美元，低于20美元。</blockquote></p><p>Securing profits is largely a matter of discipline. Some investors will secure profits with gains of 70% on the puts, others will go for 90%. Still others will hold the puts until expiration because they are content acquiring the stock at the put strike price.</p><p><blockquote>确保利润在很大程度上是一个纪律问题。一些投资者将获得70%的看跌期权收益，另一些投资者将获得90%的收益。还有一些人将持有看跌期权直至到期，因为他们满足于以看跌期权执行价格收购股票。</blockquote></p><p>Regardless of which side of the options market appeals to you, Tesla’s earnings should be a key event, and the sell-side analysts are likely to have more salacious comments to make.</p><p><blockquote>无论期权市场的哪一方对您有吸引力，特斯拉的盈利都应该是一个关键事件，而卖方分析师可能会发表更淫秽的评论。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b504372ddc29af9073294012532cc819\" tg-width=\"659\" tg-height=\"564\"></p><p><blockquote></blockquote></p><p></p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Will Tesla Be the Next Apple? Here’s How Investors Can Play It<blockquote>特斯拉会成为下一个苹果吗？投资者可以这样玩</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\">\nWill Tesla Be the Next Apple? Here’s How Investors Can Play It<blockquote>特斯拉会成为下一个苹果吗？投资者可以这样玩</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barron's</strong><span class=\"h-time small\">2021-04-13 22:11</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Tesla’s&nbsp;stock may still have some juice left in it after all.</p><p><blockquote>毕竟，特斯拉的股票可能还有一些活力。</blockquote></p><p>Tesla stock (ticker: TSLA) has understandably struggled in 2021 after a meteoric 410% rise over the past year, but the shares jumped higher on Monday afteran analyst assertedthat Tesla could be the nextApple(AAPL).</p><p><blockquote>特斯拉股票（股票代码：TSLA）在过去一年大幅上涨410%后，在2021年陷入困境，这是可以理解的，但在一位分析师断言特斯拉可能成为下一个苹果(AAPL)后，该股周一大幅走高。</blockquote></p><p>When it comes to attracting attention from investors, it’s hard to beat an assertion that likens one of the market’s hottest, most controversial stocks to one of the world’s most admired, innovative companies.</p><p><blockquote>当谈到吸引投资者的注意力时，很难击败将市场上最热门、最具争议的股票之一比作世界上最受尊敬的创新公司之一的断言。</blockquote></p><p>But rather than dismissing the Cannacord note as the Wall Street-equivalent of clickbait, investors should instead focus on how the stock behaved in reaction to the assertion: Tesla rose 3.7%, to $701.98, on heavy volume, on Monday, while the broad market was moribund, with theS&amp;P 500 indexfalling slightly.</p><p><blockquote>但投资者不应该将Cannacord的票据视为华尔街的点击诱饵，而应该关注该股对这一说法的反应：特斯拉周一成交量大涨3.7%，至701.98美元，而大盘则陷入停滞，标准普尔500指数小幅下跌。</blockquote></p><p>That reinforces the notion that Tesla’s legions of passionate investors are just looking for a reason to love the stock even more. The Cannacord analyst,Jonathan Dorsheimer, backed up his bold assertion by noting that Tesla is involved in more than just cars, just like Apple does more than just make iPhones.</p><p><blockquote>这强化了这样一种观念：特斯拉大批热情的投资者只是在寻找一个更加热爱该股的理由。Cannacord分析师Jonathan Dorsheimer支持了他的大胆断言，他指出，特斯拉涉足的不仅仅是汽车，就像苹果不仅仅是制造iPhone一样。</blockquote></p><p>The Apple-like spin is admittedly aggressive, and maybe even a bit aspirational, but such is the nature of Tesla. Investors either believe in the vision of Tesla’s chief executive, Elon Musk, or they don’t. So far, it has paid to be a believer, and the stock’s Monday rally suggests that Tesla’s investors are looking for new reasons to be evangelical.</p><p><blockquote>苹果式的旋转不可否认是侵略性的，甚至可能有点渴望，但这就是特斯拉的本质。投资者要么相信特斯拉首席执行官Elon Musk的愿景，要么不相信。到目前为止，成为一名信徒是值得的，该股周一的上涨表明特斯拉的投资者正在寻找新的理由成为福音派。</blockquote></p><p>The reason to believe could come as early as April 26, when Tesla is scheduled to reports first-quarter earnings after the market closes. Should the stock surge, investors can shout hallelujah. Should the stock stumble, look for a baptism by fire.</p><p><blockquote>相信的理由最早可能出现在4月26日，届时特斯拉计划在收盘后公布第一季度收益。如果股价飙升，投资者可以大喊哈利路亚。如果股票下跌，就寻找火的洗礼。</blockquote></p><p>With Tesla’s stock around $725, aggressive investors could consider buying Tesla’s April $735call optionsthat expire April 30 for $37.50.</p><p><blockquote>由于特斯拉股价约为725美元，激进的投资者可以考虑以37.50美元的价格购买特斯拉4月份735美元的看涨期权，该期权将于4月30日到期。</blockquote></p><p>If the stock is at $800, the call is worth $65. Should the stock be below the strike price at expiration, the trade fails, though the call could be adjusted within the options market to keep it alive.</p><p><blockquote>如果股价为800美元，则看涨期权价值65美元。如果股票在到期时低于执行价格，交易就会失败，尽管可以在期权市场内调整看涨期权以保持其活力。</blockquote></p><p>During the past 52 weeks, Tesla stock has ranged from $134.76 to $900.40. So far this year, the stock is up about 3%, compared with a gain of 10% for the S&amp;P 500.</p><p><blockquote>在过去52周内，特斯拉股价从134.76美元到900.40美元不等。今年到目前为止，该股已上涨约3%，而标普500的涨幅为10%。</blockquote></p><p>The last time we mentioned Tesla was in early April, just before the company reported first-quarter vehicle deliveries.</p><p><blockquote>我们上次提到特斯拉是在四月初，就在该公司公布第一季度汽车交付量之前。</blockquote></p><p>We then suggested that investors sell Tesla’s May $500 or May $550 put options to trade delivery data when the stock was around $661.75. So far, the trade has worked well. The May $500 puts are trading at $3.50, down from $11, and the May $550 puts are trading at $6.85, down from $20.</p><p><blockquote>然后我们建议投资者卖出特斯拉5月500美元或5月550美元看跌期权，以在该股661.75美元左右时交易交割数据。到目前为止，这项交易运作良好。5月份500美元的看跌期权交易价格为3.50美元，低于11美元；5月份550美元的看跌期权交易价格为6.85美元，低于20美元。</blockquote></p><p>Securing profits is largely a matter of discipline. Some investors will secure profits with gains of 70% on the puts, others will go for 90%. Still others will hold the puts until expiration because they are content acquiring the stock at the put strike price.</p><p><blockquote>确保利润在很大程度上是一个纪律问题。一些投资者将获得70%的看跌期权收益，另一些投资者将获得90%的收益。还有一些人将持有看跌期权直至到期，因为他们满足于以看跌期权执行价格收购股票。</blockquote></p><p>Regardless of which side of the options market appeals to you, Tesla’s earnings should be a key event, and the sell-side analysts are likely to have more salacious comments to make.</p><p><blockquote>无论期权市场的哪一方对您有吸引力，特斯拉的盈利都应该是一个关键事件，而卖方分析师可能会发表更淫秽的评论。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b504372ddc29af9073294012532cc819\" tg-width=\"659\" tg-height=\"564\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/articles/will-tesla-be-the-next-apple-heres-how-investors-can-play-it-51618322770?mod=mw_latestnews\">Barron's</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.marketwatch.com/articles/will-tesla-be-the-next-apple-heres-how-investors-can-play-it-51618322770?mod=mw_latestnews","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130111087","content_text":"Tesla’s stock may still have some juice left in it after all.Tesla stock (ticker: TSLA) has understandably struggled in 2021 after a meteoric 410% rise over the past year, but the shares jumped higher on Monday afteran analyst assertedthat Tesla could be the nextApple(AAPL).When it comes to attracting attention from investors, it’s hard to beat an assertion that likens one of the market’s hottest, most controversial stocks to one of the world’s most admired, innovative companies.But rather than dismissing the Cannacord note as the Wall Street-equivalent of clickbait, investors should instead focus on how the stock behaved in reaction to the assertion: Tesla rose 3.7%, to $701.98, on heavy volume, on Monday, while the broad market was moribund, with theS&P 500 indexfalling slightly.That reinforces the notion that Tesla’s legions of passionate investors are just looking for a reason to love the stock even more. The Cannacord analyst,Jonathan Dorsheimer, backed up his bold assertion by noting that Tesla is involved in more than just cars, just like Apple does more than just make iPhones.The Apple-like spin is admittedly aggressive, and maybe even a bit aspirational, but such is the nature of Tesla. Investors either believe in the vision of Tesla’s chief executive, Elon Musk, or they don’t. So far, it has paid to be a believer, and the stock’s Monday rally suggests that Tesla’s investors are looking for new reasons to be evangelical.The reason to believe could come as early as April 26, when Tesla is scheduled to reports first-quarter earnings after the market closes. Should the stock surge, investors can shout hallelujah. Should the stock stumble, look for a baptism by fire.With Tesla’s stock around $725, aggressive investors could consider buying Tesla’s April $735call optionsthat expire April 30 for $37.50.If the stock is at $800, the call is worth $65. Should the stock be below the strike price at expiration, the trade fails, though the call could be adjusted within the options market to keep it alive.During the past 52 weeks, Tesla stock has ranged from $134.76 to $900.40. So far this year, the stock is up about 3%, compared with a gain of 10% for the S&P 500.The last time we mentioned Tesla was in early April, just before the company reported first-quarter vehicle deliveries.We then suggested that investors sell Tesla’s May $500 or May $550 put options to trade delivery data when the stock was around $661.75. So far, the trade has worked well. The May $500 puts are trading at $3.50, down from $11, and the May $550 puts are trading at $6.85, down from $20.Securing profits is largely a matter of discipline. Some investors will secure profits with gains of 70% on the puts, others will go for 90%. Still others will hold the puts until expiration because they are content acquiring the stock at the put strike price.Regardless of which side of the options market appeals to you, Tesla’s earnings should be a key event, and the sell-side analysts are likely to have more salacious comments to make.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":598,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112866532,"gmtCreate":1622860981626,"gmtModify":1634097277663,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Pump and dump","listText":"Pump and dump","text":"Pump and dump","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/112866532","repostId":"1132937041","repostType":4,"repost":{"id":"1132937041","kind":"news","pubTimestamp":1622853341,"share":"https://www.laohu8.com/m/news/1132937041?lang=zh_CN&edition=full","pubTime":"2021-06-05 08:35","market":"us","language":"en","title":"AMC Stock Is Up 3,100%. Should You Buy or Sell?<blockquote>AMC股价上涨3,100%。你应该买还是卖？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132937041","media":"Barrons","summary":"Photo illustration by Chris Mihal / Dreamstime.com\nIn a market like this, popcorn can become a Buy s","content":"<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d95919779e01e359f19f34476e91d00\" tg-width=\"1260\" tg-height=\"840\"><span>Photo illustration by Chris Mihal / Dreamstime.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>照片插图由Chris Mihal/Dreamstime.com提供</span></p></blockquote></p><p> In a market like this, popcorn can become a Buy signal.</p><p><blockquote>在这样的市场中，爆米花可以成为买入信号。</blockquote></p><p> Shares of AMC Entertainment Holdings jumped more than 95% to an all-time high of $62.55 this past Wednesday after the movie-theater chain announced a new rewards program for shareholders that includes a free large popcorn. The next day, a plan to sell 11.55 million shares (which eventually sold at an average price of $50.85) sent AMC (ticker: AMC) tumbling.</p><p><blockquote>上周三，AMC院线控股公司宣布了一项新的股东奖励计划，其中包括免费的大爆米花，该公司股价上涨了95%以上，达到62.55美元的历史新高。第二天，一项出售1155万股股票的计划（最终以50.85美元的平均价格出售）导致AMC（股票代码：AMC）暴跌。</blockquote></p><p> Even with Thursday’s decline, the stock has soared 297% over the past nine trading sessions, and is up an eye-popping 2,160% for the year.</p><p><blockquote>尽管周四下跌，该股在过去九个交易日中仍飙升了297%，今年以来上涨了令人瞠目结舌的2,160%。</blockquote></p><p> After&nbsp;GameStop(GME) and&nbsp;BlackBerry(BB), there seems to be little stopping the latest hot meme stock,not even a warning from AMC itself: “Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company said on Thursday in the filing to sell the shares.</p><p><blockquote>继游戏驿站(GME)和黑莓(BB)之后，似乎没有什么能阻止最新的热门模因股票，甚至AMC本身也没有发出警告：“在这种情况下，我们警告您不要投资我们的A类普通股，除非你准备承担损失全部或大部分投资的风险，”该公司周四在出售股票的文件中表示。</blockquote></p><p> Earlier in the week, AMC sold 8.5 million shares to investment firm Mudrick Capital Management, which sold its stake at a profit that same day,Bloomberg reported. AMC called it a “very smart raising of cash so that we can grow this company.”</p><p><blockquote>据彭博社报道，本周早些时候，AMC向投资公司Mudrick Capital Management出售了850万股股票，该公司当天出售了其股份并获利。AMC称其为“非常明智的现金筹集，以便我们能够发展这家公司。”</blockquote></p><p> More dilution could be coming. The company will ask shareholders to authorize the sale of an additional 25 million shares, starting in 2022, at its annual meeting next month.</p><p><blockquote>更多的稀释可能会到来。该公司将在下个月的年会上要求股东授权从2022年开始额外出售2500万股股票。</blockquote></p><p> Despite the unusual warning and the dilution, some users doubled down on their enthusiasm for the stock in online forums this past week, noting that GameStop experienced similar volatility during its January rise. That just confounds and outrages traditional investors.</p><p><blockquote>尽管出现了不寻常的警告和稀释，一些用户上周在在线论坛上加倍了对该股的热情，并指出游戏驿站在1月份的上涨期间也经历了类似的波动。这只会让传统投资者感到困惑和愤怒。</blockquote></p><p> “The surge in shares of AMC Entertainment is yet another sign of the reckless meme-stock-driven investing landscape that we find ourselves in today,” David Trainer, CEO of investment research firm New Constructs, recently wrote. “Wall Street insiders are preying on the naiveté of retail meme-stock traders. There is no fundamental reason to be buying shares of AMC Entertainment.”</p><p><blockquote>投资研究公司New Constructs首席执行官大卫·特雷纳(David Trainer)最近写道：“AMC院线股价的飙升是我们今天所处的鲁莽模因股票驱动的投资格局的又一个迹象。”“华尔街内部人士正在利用散户模因股票交易员的天真。没有根本理由购买AMC院线股票。”</blockquote></p><p> Trying to identify a fundamental narrative that can justify AMC’s ascent is admittedly difficult. Still, it is an exercise that might provide some insights for investors.</p><p><blockquote>诚然，试图找到一个能够证明AMC崛起合理性的基本叙述是很困难的。尽管如此，这项工作可能会为投资者提供一些见解。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/62d362d944fe5c0a23bee485799d1195\" tg-width=\"956\" tg-height=\"637\"></p><p><blockquote></blockquote></p><p> With the recent share sale, AMC has an enterprise value of about $35 billion, almost six times what it was at the end of 2018, a record-breaking year at the U.S. box office. At that time, the enterprise value for the three largest publicly traded theater operators was about 1.6 times the total domestic box office. (Theater chains typically have a lot of debt, making enterprise value a better measure.)</p><p><blockquote>随着最近的股票出售，AMC的企业价值约为350亿美元，几乎是2018年底的六倍，这是美国票房破纪录的一年。当时，三家最大的公开交易影院运营商的企业价值约为国内总票房的1.6倍。（影院连锁店通常有很多债务，这使得企业价值成为更好的衡量标准。）</blockquote></p><p> AMC’s enterprise value is now about 17 times the dreadful, pandemic-affected domestic box office haul of just $2.1 billion in 2020.</p><p><blockquote>AMC的企业价值目前约为2020年受疫情影响的国内票房收入21亿美元的17倍。</blockquote></p><p> Roughly two-thirds of sales typically come from tickets. The rest comes from soda and, yes, popcorn. The challenge for the industry is whether enough moviegoers return and spend as they did before, after a year of staying home and streaming.</p><p><blockquote>大约三分之二的销售额通常来自门票。其余的来自苏打水，是的，还有爆米花。该行业面临的挑战是，在呆在家里看流媒体一年后，是否有足够多的电影观众像以前一样回来消费。</blockquote></p><p> The business might go through a period of consolidation, as it did earlier this century, when a shift to stadium seating pushed some operators into bankruptcy and mergers. Regal Cinemas, one of the large U.S. theater chains, filed for bankruptcy in 2001. Coming out of bankruptcy, Regal became a cash-generating machine—fewer movie-theater operators helped. And fewer now could usher in another era of higher returns on investment and better cash generation.</p><p><blockquote>该业务可能会经历一段整合期，就像本世纪初那样，当时转向体育场座位迫使一些运营商破产和合并。富豪影院是美国大型连锁影院之一，于2001年申请破产。摆脱破产后，富豪成为了一台现金产生机——更少的电影院运营商提供了帮助。现在更少的人可能会迎来另一个更高投资回报和更好现金生成的时代。</blockquote></p><p> Indeed, the hope is that AMC could be opportunistic in&nbsp;the postpandemic world, perhaps by making acquisitions. The recent gains in the stock have made that hope self-fulfilling, allowing the company to raise new capital—$1.25 billion through stock sales in this quarter alone.</p><p><blockquote>事实上，人们希望AMC能够在大流行后的世界中抓住机会，也许是通过收购。该股最近的上涨使这一希望得以自我实现，使该公司仅在本季度就通过股票销售筹集了12.5亿美元的新资本。</blockquote></p><p> “With our increased liquidity, an increasingly vaccinated population, and the imminent release of blockbuster new movie titles, it is time for AMC to go on the offense again,” CEO Adam Aron said this past Tuesday.</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)上周二表示：“随着流动性的增加、疫苗接种人口的增加以及大片新电影即将上映，AMC是时候再次进攻了。”</blockquote></p><p> If AMC can boost market share, and if U.S. box office sales return to 2018 levels, the company’s total sales might hit $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 were $5.5 billion.</p><p><blockquote>如果AMC能够提高市场份额，如果美国票房收入恢复到2018年的水平，该公司的总销售额可能会达到90亿美元——60亿美元的门票收入和30亿美元的特许权收入。2018年销售额为55亿美元。</blockquote></p><p> Then, if profit margins improve with better industry scale, and if AMC’s investment in new theaters can drop as new capacity isn’t really needed, the company might be able to generate $600 million in free cash flow annually. That is about three times the cash-generating potential of prior, prepandemic years.</p><p><blockquote>然后，如果利润率随着行业规模的扩大而提高，并且AMC对新影院的投资因不真正需要新产能而下降，那么该公司每年可能能够产生6亿美元的自由现金流。这大约是大流行前几年现金产生潜力的三倍。</blockquote></p><p></p><p> With $600 million in free cash flow, the stock’s free-cash-flow yield works out to about 2.4%, based on recent prices. That yield makes the stock look expensive, but not completely unreasonable. The&nbsp;S&amp;P 500&nbsp;index trades for about a 3.4% free-cash-flow yield; other consumer-discretionary stocks in the S&amp;P trade at a free-cash-flow yield of about 3.1%.</p><p><blockquote>凭借6亿美元的自由现金流，根据最近的价格，该股的自由现金流收益率约为2.4%。这一收益率使该股票看起来很昂贵，但并非完全不合理。标准普尔500指数的自由现金流收益率约为3.4%；标准普尔其他非必需消费品股票的自由现金流收益率约为3.1%。</blockquote></p><p> While that may offer a faint glimmer of hope for fundamental investors, there are problems with the $600 million free-cash-flow scenario. There are a lot of ifs and mights—and AMC has never generated cash flow like that in the past.</p><p><blockquote>虽然这可能会给基本面投资者带来一线希望，但6亿美元的自由现金流情景存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。</blockquote></p><p> Consolidation in the industry is also no guarantee of success. AMC’s share of the market might rise, but there are still competitors: Regal Cinemas, now owned by&nbsp;Cineworld Group(CINE.UK), and&nbsp;Cinemark Holdings(CNK).</p><p><blockquote>行业整合也不能保证成功。AMC的市场份额可能会上升，但仍然存在竞争对手：现归Cineworld Group(CINE.UK)所有的Regal Cinemas和Cinemark Holdings(CNK)。</blockquote></p><p> Neither one is trading like AMC: Cineworld stock is up 283% from its 52-week low, but is off 78% from all-time highs, while Cinemark shares are up 183% from their 52-week low, but down 51% from their all-time high. AMC stock, by comparison, is up 2,320% from its 52-week low.</p><p><blockquote>两家公司的交易情况都不如AMC：Cineworld股价较52周低点上涨283%，但较历史高点下跌78%，而Cinemark股价较52周低点上涨183%，但下跌51%从他们的历史高点。相比之下，AMC股价较52周低点上涨2,320%。</blockquote></p><p> And AMC and its peers also have to compete with streaming. Windows for exclusive theater showings are shrinking, and the pandemic has accelerated that.</p><p><blockquote>AMC及其同行也必须与流媒体竞争。独家影院放映的窗口正在缩小，而疫情加速了这一趋势。</blockquote></p><p> Wall Street doesn’t see the potential. Ten analysts cover the stock, and the average price target is $5.25. The highest is $18 a share. Before the pandemic, the average analyst price target was $15. There were fewer shares of AMC at the time. The old target prices implied an enterprise value of roughly $7 billion—a far cry from $35 billion.</p><p><blockquote>华尔街看不到潜力。10名分析师关注该股，平均目标价为5.25美元。最高为每股18美元。在疫情爆发之前，分析师的平均目标价为15美元。当时AMC的股票较少。旧的目标价意味着企业价值约为70亿美元，与350亿美元相去甚远。</blockquote></p><p> Analysts do, however, have positive free cash flow projected for AMC in the future—about $13 million in 2022 and $90 million in 2023.</p><p><blockquote>然而，分析师确实预计AMC未来的自由现金流为正——2022年约为1300万美元，2023年约为9000万美元。</blockquote></p><p> At these levels, the fundamental case for AMC stock is, to put it mildly, a stretch. Yet overvaluation alone is never a good reason to sell a stock short, betting on a price decline. High numbers of shares shorted are typically an element in the meme-fueled rises. These days, the risk of&nbsp;short squeezes&nbsp;has become far larger than the potential gain from the market realizing that a stock is too expensive.</p><p><blockquote>在这些水平上，温和地说，AMC股票的基本情况是一种延伸。然而，仅仅估值过高从来都不是卖空股票、押注价格下跌的好理由。大量股票被做空通常是模因推动的上涨的一个因素。如今，轧空的风险已经远远大于市场意识到股票太贵的潜在收益。</blockquote></p><p> In the end, investing and trading are different skills. Both can make people money. The important thing is not to confuse the two.</p><p><blockquote>归根结底，投资和交易是不同的技能。两者都能让人赚钱。重要的是不要混淆这两者。</blockquote></p><p> AMC investors may understand that. “I think that for most of the retail investors that you see buying quote-unquote meme stocks, it really is to prove a point,” says Natalie Camacho, a 27-year-old writer from California’s San Fernando Valley.</p><p><blockquote>AMC投资者可能明白这一点。来自加利福尼亚州圣费尔南多谷的27岁作家娜塔莉·卡马乔(Natalie Camacho)表示：“我认为，对于大多数购买报价未报价模因股票的散户投资者来说，这确实是为了证明一个观点。”</blockquote></p><p> She says she bought 11 shares of AMC in January for $100 as the meme-stock wave began to build. She expected the company to benefit by the reopening from Covid-19.</p><p><blockquote>她表示，随着模因股票浪潮开始兴起，她在1月份以100美元的价格购买了11股AMC股票。她预计该公司将受益于Covid-19的重新开业。</blockquote></p><p> Camacho says that she had felt as if the world of investing was closed to her, because she didn’t have $10,000 to put into stocks. On social media, the AMC trade has been portrayed as a battle of the little guys against the big Wall Street firms, which appeals to her.</p><p><blockquote>卡马乔说，她觉得投资世界对她关闭了，因为她没有10,000美元可以投资股票。在社交媒体上，AMC的交易被描绘成小人物与华尔街大公司的战斗，这对她很有吸引力。</blockquote></p><p> “What draws me to it is that communal sense, that we’re all in this together,” she says. “There’s a sense that if we pool our money together, we might not be rich, but we’ll have enough to make a difference.”</p><p><blockquote>“吸引我的是那种社区意识，我们都在一起，”她说。“有一种感觉，如果我们把钱集中在一起，我们可能不会富有，但我们将有足够的钱来改变现状。”</blockquote></p><p> Regardless of how it plays out, she is betting with money she can afford to lose. As of Thursday morning, her $100 investment had grown to $460. “Maybe it’s a long-term bad idea, but for now we’re holding,” she says.</p><p><blockquote>不管结果如何，她都在用她输得起的钱下注。截至周四上午，她的100美元投资已增至460美元。“也许从长远来看这是一个坏主意，但目前我们坚持下去，”她说。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Stock Is Up 3,100%. Should You Buy or Sell?<blockquote>AMC股价上涨3,100%。你应该买还是卖？</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\">\nAMC Stock Is Up 3,100%. Should You Buy or Sell?<blockquote>AMC股价上涨3,100%。你应该买还是卖？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-06-05 08:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3d95919779e01e359f19f34476e91d00\" tg-width=\"1260\" tg-height=\"840\"><span>Photo illustration by Chris Mihal / Dreamstime.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>照片插图由Chris Mihal/Dreamstime.com提供</span></p></blockquote></p><p> In a market like this, popcorn can become a Buy signal.</p><p><blockquote>在这样的市场中，爆米花可以成为买入信号。</blockquote></p><p> Shares of AMC Entertainment Holdings jumped more than 95% to an all-time high of $62.55 this past Wednesday after the movie-theater chain announced a new rewards program for shareholders that includes a free large popcorn. The next day, a plan to sell 11.55 million shares (which eventually sold at an average price of $50.85) sent AMC (ticker: AMC) tumbling.</p><p><blockquote>上周三，AMC院线控股公司宣布了一项新的股东奖励计划，其中包括免费的大爆米花，该公司股价上涨了95%以上，达到62.55美元的历史新高。第二天，一项出售1155万股股票的计划（最终以50.85美元的平均价格出售）导致AMC（股票代码：AMC）暴跌。</blockquote></p><p> Even with Thursday’s decline, the stock has soared 297% over the past nine trading sessions, and is up an eye-popping 2,160% for the year.</p><p><blockquote>尽管周四下跌，该股在过去九个交易日中仍飙升了297%，今年以来上涨了令人瞠目结舌的2,160%。</blockquote></p><p> After&nbsp;GameStop(GME) and&nbsp;BlackBerry(BB), there seems to be little stopping the latest hot meme stock,not even a warning from AMC itself: “Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company said on Thursday in the filing to sell the shares.</p><p><blockquote>继游戏驿站(GME)和黑莓(BB)之后，似乎没有什么能阻止最新的热门模因股票，甚至AMC本身也没有发出警告：“在这种情况下，我们警告您不要投资我们的A类普通股，除非你准备承担损失全部或大部分投资的风险，”该公司周四在出售股票的文件中表示。</blockquote></p><p> Earlier in the week, AMC sold 8.5 million shares to investment firm Mudrick Capital Management, which sold its stake at a profit that same day,Bloomberg reported. AMC called it a “very smart raising of cash so that we can grow this company.”</p><p><blockquote>据彭博社报道，本周早些时候，AMC向投资公司Mudrick Capital Management出售了850万股股票，该公司当天出售了其股份并获利。AMC称其为“非常明智的现金筹集，以便我们能够发展这家公司。”</blockquote></p><p> More dilution could be coming. The company will ask shareholders to authorize the sale of an additional 25 million shares, starting in 2022, at its annual meeting next month.</p><p><blockquote>更多的稀释可能会到来。该公司将在下个月的年会上要求股东授权从2022年开始额外出售2500万股股票。</blockquote></p><p> Despite the unusual warning and the dilution, some users doubled down on their enthusiasm for the stock in online forums this past week, noting that GameStop experienced similar volatility during its January rise. That just confounds and outrages traditional investors.</p><p><blockquote>尽管出现了不寻常的警告和稀释，一些用户上周在在线论坛上加倍了对该股的热情，并指出游戏驿站在1月份的上涨期间也经历了类似的波动。这只会让传统投资者感到困惑和愤怒。</blockquote></p><p> “The surge in shares of AMC Entertainment is yet another sign of the reckless meme-stock-driven investing landscape that we find ourselves in today,” David Trainer, CEO of investment research firm New Constructs, recently wrote. “Wall Street insiders are preying on the naiveté of retail meme-stock traders. There is no fundamental reason to be buying shares of AMC Entertainment.”</p><p><blockquote>投资研究公司New Constructs首席执行官大卫·特雷纳(David Trainer)最近写道：“AMC院线股价的飙升是我们今天所处的鲁莽模因股票驱动的投资格局的又一个迹象。”“华尔街内部人士正在利用散户模因股票交易员的天真。没有根本理由购买AMC院线股票。”</blockquote></p><p> Trying to identify a fundamental narrative that can justify AMC’s ascent is admittedly difficult. Still, it is an exercise that might provide some insights for investors.</p><p><blockquote>诚然，试图找到一个能够证明AMC崛起合理性的基本叙述是很困难的。尽管如此，这项工作可能会为投资者提供一些见解。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/62d362d944fe5c0a23bee485799d1195\" tg-width=\"956\" tg-height=\"637\"></p><p><blockquote></blockquote></p><p> With the recent share sale, AMC has an enterprise value of about $35 billion, almost six times what it was at the end of 2018, a record-breaking year at the U.S. box office. At that time, the enterprise value for the three largest publicly traded theater operators was about 1.6 times the total domestic box office. (Theater chains typically have a lot of debt, making enterprise value a better measure.)</p><p><blockquote>随着最近的股票出售，AMC的企业价值约为350亿美元，几乎是2018年底的六倍，这是美国票房破纪录的一年。当时，三家最大的公开交易影院运营商的企业价值约为国内总票房的1.6倍。（影院连锁店通常有很多债务，这使得企业价值成为更好的衡量标准。）</blockquote></p><p> AMC’s enterprise value is now about 17 times the dreadful, pandemic-affected domestic box office haul of just $2.1 billion in 2020.</p><p><blockquote>AMC的企业价值目前约为2020年受疫情影响的国内票房收入21亿美元的17倍。</blockquote></p><p> Roughly two-thirds of sales typically come from tickets. The rest comes from soda and, yes, popcorn. The challenge for the industry is whether enough moviegoers return and spend as they did before, after a year of staying home and streaming.</p><p><blockquote>大约三分之二的销售额通常来自门票。其余的来自苏打水，是的，还有爆米花。该行业面临的挑战是，在呆在家里看流媒体一年后，是否有足够多的电影观众像以前一样回来消费。</blockquote></p><p> The business might go through a period of consolidation, as it did earlier this century, when a shift to stadium seating pushed some operators into bankruptcy and mergers. Regal Cinemas, one of the large U.S. theater chains, filed for bankruptcy in 2001. Coming out of bankruptcy, Regal became a cash-generating machine—fewer movie-theater operators helped. And fewer now could usher in another era of higher returns on investment and better cash generation.</p><p><blockquote>该业务可能会经历一段整合期，就像本世纪初那样，当时转向体育场座位迫使一些运营商破产和合并。富豪影院是美国大型连锁影院之一，于2001年申请破产。摆脱破产后，富豪成为了一台现金产生机——更少的电影院运营商提供了帮助。现在更少的人可能会迎来另一个更高投资回报和更好现金生成的时代。</blockquote></p><p> Indeed, the hope is that AMC could be opportunistic in&nbsp;the postpandemic world, perhaps by making acquisitions. The recent gains in the stock have made that hope self-fulfilling, allowing the company to raise new capital—$1.25 billion through stock sales in this quarter alone.</p><p><blockquote>事实上，人们希望AMC能够在大流行后的世界中抓住机会，也许是通过收购。该股最近的上涨使这一希望得以自我实现，使该公司仅在本季度就通过股票销售筹集了12.5亿美元的新资本。</blockquote></p><p> “With our increased liquidity, an increasingly vaccinated population, and the imminent release of blockbuster new movie titles, it is time for AMC to go on the offense again,” CEO Adam Aron said this past Tuesday.</p><p><blockquote>首席执行官亚当·阿伦(Adam Aron)上周二表示：“随着流动性的增加、疫苗接种人口的增加以及大片新电影即将上映，AMC是时候再次进攻了。”</blockquote></p><p> If AMC can boost market share, and if U.S. box office sales return to 2018 levels, the company’s total sales might hit $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 were $5.5 billion.</p><p><blockquote>如果AMC能够提高市场份额，如果美国票房收入恢复到2018年的水平，该公司的总销售额可能会达到90亿美元——60亿美元的门票收入和30亿美元的特许权收入。2018年销售额为55亿美元。</blockquote></p><p> Then, if profit margins improve with better industry scale, and if AMC’s investment in new theaters can drop as new capacity isn’t really needed, the company might be able to generate $600 million in free cash flow annually. That is about three times the cash-generating potential of prior, prepandemic years.</p><p><blockquote>然后，如果利润率随着行业规模的扩大而提高，并且AMC对新影院的投资因不真正需要新产能而下降，那么该公司每年可能能够产生6亿美元的自由现金流。这大约是大流行前几年现金产生潜力的三倍。</blockquote></p><p></p><p> With $600 million in free cash flow, the stock’s free-cash-flow yield works out to about 2.4%, based on recent prices. That yield makes the stock look expensive, but not completely unreasonable. The&nbsp;S&amp;P 500&nbsp;index trades for about a 3.4% free-cash-flow yield; other consumer-discretionary stocks in the S&amp;P trade at a free-cash-flow yield of about 3.1%.</p><p><blockquote>凭借6亿美元的自由现金流，根据最近的价格，该股的自由现金流收益率约为2.4%。这一收益率使该股票看起来很昂贵，但并非完全不合理。标准普尔500指数的自由现金流收益率约为3.4%；标准普尔其他非必需消费品股票的自由现金流收益率约为3.1%。</blockquote></p><p> While that may offer a faint glimmer of hope for fundamental investors, there are problems with the $600 million free-cash-flow scenario. There are a lot of ifs and mights—and AMC has never generated cash flow like that in the past.</p><p><blockquote>虽然这可能会给基本面投资者带来一线希望，但6亿美元的自由现金流情景存在问题。有很多如果和可能——AMC过去从未产生过这样的现金流。</blockquote></p><p> Consolidation in the industry is also no guarantee of success. AMC’s share of the market might rise, but there are still competitors: Regal Cinemas, now owned by&nbsp;Cineworld Group(CINE.UK), and&nbsp;Cinemark Holdings(CNK).</p><p><blockquote>行业整合也不能保证成功。AMC的市场份额可能会上升，但仍然存在竞争对手：现归Cineworld Group(CINE.UK)所有的Regal Cinemas和Cinemark Holdings(CNK)。</blockquote></p><p> Neither one is trading like AMC: Cineworld stock is up 283% from its 52-week low, but is off 78% from all-time highs, while Cinemark shares are up 183% from their 52-week low, but down 51% from their all-time high. AMC stock, by comparison, is up 2,320% from its 52-week low.</p><p><blockquote>两家公司的交易情况都不如AMC：Cineworld股价较52周低点上涨283%，但较历史高点下跌78%，而Cinemark股价较52周低点上涨183%，但下跌51%从他们的历史高点。相比之下，AMC股价较52周低点上涨2,320%。</blockquote></p><p> And AMC and its peers also have to compete with streaming. Windows for exclusive theater showings are shrinking, and the pandemic has accelerated that.</p><p><blockquote>AMC及其同行也必须与流媒体竞争。独家影院放映的窗口正在缩小，而疫情加速了这一趋势。</blockquote></p><p> Wall Street doesn’t see the potential. Ten analysts cover the stock, and the average price target is $5.25. The highest is $18 a share. Before the pandemic, the average analyst price target was $15. There were fewer shares of AMC at the time. The old target prices implied an enterprise value of roughly $7 billion—a far cry from $35 billion.</p><p><blockquote>华尔街看不到潜力。10名分析师关注该股，平均目标价为5.25美元。最高为每股18美元。在疫情爆发之前，分析师的平均目标价为15美元。当时AMC的股票较少。旧的目标价意味着企业价值约为70亿美元，与350亿美元相去甚远。</blockquote></p><p> Analysts do, however, have positive free cash flow projected for AMC in the future—about $13 million in 2022 and $90 million in 2023.</p><p><blockquote>然而，分析师确实预计AMC未来的自由现金流为正——2022年约为1300万美元，2023年约为9000万美元。</blockquote></p><p> At these levels, the fundamental case for AMC stock is, to put it mildly, a stretch. Yet overvaluation alone is never a good reason to sell a stock short, betting on a price decline. High numbers of shares shorted are typically an element in the meme-fueled rises. These days, the risk of&nbsp;short squeezes&nbsp;has become far larger than the potential gain from the market realizing that a stock is too expensive.</p><p><blockquote>在这些水平上，温和地说，AMC股票的基本情况是一种延伸。然而，仅仅估值过高从来都不是卖空股票、押注价格下跌的好理由。大量股票被做空通常是模因推动的上涨的一个因素。如今，轧空的风险已经远远大于市场意识到股票太贵的潜在收益。</blockquote></p><p> In the end, investing and trading are different skills. Both can make people money. The important thing is not to confuse the two.</p><p><blockquote>归根结底，投资和交易是不同的技能。两者都能让人赚钱。重要的是不要混淆这两者。</blockquote></p><p> AMC investors may understand that. “I think that for most of the retail investors that you see buying quote-unquote meme stocks, it really is to prove a point,” says Natalie Camacho, a 27-year-old writer from California’s San Fernando Valley.</p><p><blockquote>AMC投资者可能明白这一点。来自加利福尼亚州圣费尔南多谷的27岁作家娜塔莉·卡马乔(Natalie Camacho)表示：“我认为，对于大多数购买报价未报价模因股票的散户投资者来说，这确实是为了证明一个观点。”</blockquote></p><p> She says she bought 11 shares of AMC in January for $100 as the meme-stock wave began to build. She expected the company to benefit by the reopening from Covid-19.</p><p><blockquote>她表示，随着模因股票浪潮开始兴起，她在1月份以100美元的价格购买了11股AMC股票。她预计该公司将受益于Covid-19的重新开业。</blockquote></p><p> Camacho says that she had felt as if the world of investing was closed to her, because she didn’t have $10,000 to put into stocks. On social media, the AMC trade has been portrayed as a battle of the little guys against the big Wall Street firms, which appeals to her.</p><p><blockquote>卡马乔说，她觉得投资世界对她关闭了，因为她没有10,000美元可以投资股票。在社交媒体上，AMC的交易被描绘成小人物与华尔街大公司的战斗，这对她很有吸引力。</blockquote></p><p> “What draws me to it is that communal sense, that we’re all in this together,” she says. “There’s a sense that if we pool our money together, we might not be rich, but we’ll have enough to make a difference.”</p><p><blockquote>“吸引我的是那种社区意识，我们都在一起，”她说。“有一种感觉，如果我们把钱集中在一起，我们可能不会富有，但我们将有足够的钱来改变现状。”</blockquote></p><p> Regardless of how it plays out, she is betting with money she can afford to lose. As of Thursday morning, her $100 investment had grown to $460. “Maybe it’s a long-term bad idea, but for now we’re holding,” she says.</p><p><blockquote>不管结果如何，她都在用她输得起的钱下注。截至周四上午，她的100美元投资已增至460美元。“也许从长远来看这是一个坏主意，但目前我们坚持下去，”她说。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/buy-sell-amc-stock-51622844305?mod=hp_LEAD_1\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/buy-sell-amc-stock-51622844305?mod=hp_LEAD_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132937041","content_text":"Photo illustration by Chris Mihal / Dreamstime.com\nIn a market like this, popcorn can become a Buy signal.\nShares of AMC Entertainment Holdings jumped more than 95% to an all-time high of $62.55 this past Wednesday after the movie-theater chain announced a new rewards program for shareholders that includes a free large popcorn. The next day, a plan to sell 11.55 million shares (which eventually sold at an average price of $50.85) sent AMC (ticker: AMC) tumbling.\nEven with Thursday’s decline, the stock has soared 297% over the past nine trading sessions, and is up an eye-popping 2,160% for the year.\nAfter GameStop(GME) and BlackBerry(BB), there seems to be little stopping the latest hot meme stock,not even a warning from AMC itself: “Under the circumstances, we caution you against investing in our Class A common stock, unless you are prepared to incur the risk of losing all or a substantial portion of your investment,” the company said on Thursday in the filing to sell the shares.\nEarlier in the week, AMC sold 8.5 million shares to investment firm Mudrick Capital Management, which sold its stake at a profit that same day,Bloomberg reported. AMC called it a “very smart raising of cash so that we can grow this company.”\nMore dilution could be coming. The company will ask shareholders to authorize the sale of an additional 25 million shares, starting in 2022, at its annual meeting next month.\nDespite the unusual warning and the dilution, some users doubled down on their enthusiasm for the stock in online forums this past week, noting that GameStop experienced similar volatility during its January rise. That just confounds and outrages traditional investors.\n“The surge in shares of AMC Entertainment is yet another sign of the reckless meme-stock-driven investing landscape that we find ourselves in today,” David Trainer, CEO of investment research firm New Constructs, recently wrote. “Wall Street insiders are preying on the naiveté of retail meme-stock traders. There is no fundamental reason to be buying shares of AMC Entertainment.”\nTrying to identify a fundamental narrative that can justify AMC’s ascent is admittedly difficult. Still, it is an exercise that might provide some insights for investors.\n\nWith the recent share sale, AMC has an enterprise value of about $35 billion, almost six times what it was at the end of 2018, a record-breaking year at the U.S. box office. At that time, the enterprise value for the three largest publicly traded theater operators was about 1.6 times the total domestic box office. (Theater chains typically have a lot of debt, making enterprise value a better measure.)\nAMC’s enterprise value is now about 17 times the dreadful, pandemic-affected domestic box office haul of just $2.1 billion in 2020.\nRoughly two-thirds of sales typically come from tickets. The rest comes from soda and, yes, popcorn. The challenge for the industry is whether enough moviegoers return and spend as they did before, after a year of staying home and streaming.\nThe business might go through a period of consolidation, as it did earlier this century, when a shift to stadium seating pushed some operators into bankruptcy and mergers. Regal Cinemas, one of the large U.S. theater chains, filed for bankruptcy in 2001. Coming out of bankruptcy, Regal became a cash-generating machine—fewer movie-theater operators helped. And fewer now could usher in another era of higher returns on investment and better cash generation.\nIndeed, the hope is that AMC could be opportunistic in the postpandemic world, perhaps by making acquisitions. The recent gains in the stock have made that hope self-fulfilling, allowing the company to raise new capital—$1.25 billion through stock sales in this quarter alone.\n“With our increased liquidity, an increasingly vaccinated population, and the imminent release of blockbuster new movie titles, it is time for AMC to go on the offense again,” CEO Adam Aron said this past Tuesday.\nIf AMC can boost market share, and if U.S. box office sales return to 2018 levels, the company’s total sales might hit $9 billion—$6 billion from tickets and $3 billion from concessions. Sales in 2018 were $5.5 billion.\nThen, if profit margins improve with better industry scale, and if AMC’s investment in new theaters can drop as new capacity isn’t really needed, the company might be able to generate $600 million in free cash flow annually. That is about three times the cash-generating potential of prior, prepandemic years.\nWith $600 million in free cash flow, the stock’s free-cash-flow yield works out to about 2.4%, based on recent prices. That yield makes the stock look expensive, but not completely unreasonable. The S&P 500 index trades for about a 3.4% free-cash-flow yield; other consumer-discretionary stocks in the S&P trade at a free-cash-flow yield of about 3.1%.\nWhile that may offer a faint glimmer of hope for fundamental investors, there are problems with the $600 million free-cash-flow scenario. There are a lot of ifs and mights—and AMC has never generated cash flow like that in the past.\nConsolidation in the industry is also no guarantee of success. AMC’s share of the market might rise, but there are still competitors: Regal Cinemas, now owned by Cineworld Group(CINE.UK), and Cinemark Holdings(CNK).\nNeither one is trading like AMC: Cineworld stock is up 283% from its 52-week low, but is off 78% from all-time highs, while Cinemark shares are up 183% from their 52-week low, but down 51% from their all-time high. AMC stock, by comparison, is up 2,320% from its 52-week low.\nAnd AMC and its peers also have to compete with streaming. Windows for exclusive theater showings are shrinking, and the pandemic has accelerated that.\nWall Street doesn’t see the potential. Ten analysts cover the stock, and the average price target is $5.25. The highest is $18 a share. Before the pandemic, the average analyst price target was $15. There were fewer shares of AMC at the time. The old target prices implied an enterprise value of roughly $7 billion—a far cry from $35 billion.\nAnalysts do, however, have positive free cash flow projected for AMC in the future—about $13 million in 2022 and $90 million in 2023.\nAt these levels, the fundamental case for AMC stock is, to put it mildly, a stretch. Yet overvaluation alone is never a good reason to sell a stock short, betting on a price decline. High numbers of shares shorted are typically an element in the meme-fueled rises. These days, the risk of short squeezes has become far larger than the potential gain from the market realizing that a stock is too expensive.\nIn the end, investing and trading are different skills. Both can make people money. The important thing is not to confuse the two.\nAMC investors may understand that. “I think that for most of the retail investors that you see buying quote-unquote meme stocks, it really is to prove a point,” says Natalie Camacho, a 27-year-old writer from California’s San Fernando Valley.\nShe says she bought 11 shares of AMC in January for $100 as the meme-stock wave began to build. She expected the company to benefit by the reopening from Covid-19.\nCamacho says that she had felt as if the world of investing was closed to her, because she didn’t have $10,000 to put into stocks. On social media, the AMC trade has been portrayed as a battle of the little guys against the big Wall Street firms, which appeals to her.\n“What draws me to it is that communal sense, that we’re all in this together,” she says. “There’s a sense that if we pool our money together, we might not be rich, but we’ll have enough to make a difference.”\nRegardless of how it plays out, she is betting with money she can afford to lose. As of Thursday morning, her $100 investment had grown to $460. “Maybe it’s a long-term bad idea, but for now we’re holding,” she says.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":2695,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":101798741,"gmtCreate":1619939939783,"gmtModify":1634208964357,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/101798741","repostId":"1103106179","repostType":4,"isVote":1,"tweetType":1,"viewCount":561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109608750,"gmtCreate":1619687269470,"gmtModify":1634210719856,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Break the $50 barrier","listText":"Break the $50 barrier","text":"Break the $50 barrier","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/109608750","repostId":"1183966356","repostType":4,"repost":{"id":"1183966356","kind":"news","pubTimestamp":1619665696,"share":"https://www.laohu8.com/m/news/1183966356?lang=zh_CN&edition=full","pubTime":"2021-04-29 11:08","market":"us","language":"en","title":"NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183966356","media":"InvestoPedia","summary":"Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.Revenue is expected to soar on expanding vehicle sales.NIO Inc. , like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles . NIO's production stoppage in late March had little impact on the company's record ve","content":"<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>","source":"lsy1606203311635","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 Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</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 Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来2021年第一季度收益报告预览：寻找什么</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestoPedia</strong><span class=\"h-time small\">2021-04-29 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Focus on NIO vehicle deliveries</p><p><blockquote>聚焦蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>关键要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计2020财年第一季度每股美国存托凭证收益为-0.72元，而2020财年第一季度为-1.66元。</li><li>已经宣布的车辆交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>蔚来（蔚来）和许多其他汽车制造商一样，由于全球半导体短缺，今年被迫停产。广泛用于智能手机、计算机和其他电子设备的半导体芯片对于高端电动汽车(EV)制造商蔚来尤为重要。蔚来3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来于2021年4月29日公布2021财年第一季度收益时，投资者将关注这些力量如何影响该公司的近期业绩及其财务前景。分析师预计该公司每股美国存托股(ADS)亏损将随着收入快速扩张而显着收窄。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>车辆交付量是投资者关注的另一个关键指标，以衡量公司的生产能力。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度纪录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来的股价大幅跑赢大盘。但在今年早些时候达到历史高点后，该股大幅下跌，自3月初以来一直横盘整理。过去一年，蔚来的股票为投资者带来了1,171.9%的天文数字总回报率，远高于标普500 45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在2月中旬左右见顶后一直在积聚下行动力，在蔚来3月初发布2020财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来的亏损较去年同期大幅收窄，营收仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率升至17.2%，而去年同期为负8.9%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来每股美国存托凭证亏损0.98元人民币（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来的最小亏损。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，其交付的车辆数量创历史新高，平均售价也有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来2021财年第一季度的财务业绩将持续改善。虽然蔚来预计仍将再次出现每股美国存托凭证亏损，但估计将是至少14个季度以来的最低水平。该季度收入预计将增长446.1%，这将是自2019财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来将实现每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长109.7%，增速快于过去两年的每年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中获得一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；该公司的5座高性能高级智能电动SUV ES6；以及该公司的5座高级电动轿跑车SUV EC6。汽车交付数量表明了对蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅提高了产量。该公司在2018财年交付了11,350辆汽车。2020财年，这一数字几乎翻了两番，交付了43,730辆汽车。尽管2020财年第一季度因COVID-19大流行而放缓，但蔚来很快弥补了第一季度交付量的下降，2020财年第二季度同比增长190.8%。第三季度汽车交付总量增速放缓至154.3%，第四季度放缓至111.0%。然而，如上所述，2021财年第一季度的车辆交付量增长了423.0%，创下了新的季度纪录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺很可能会削减其产能，至少在第二季度是这样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991\">InvestoPedia</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":{"NIO":"蔚来"},"source_url":"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183966356","content_text":"Focus on NIO vehicle deliveries\nKEY TAKEAWAYS\n\nAnalysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.\nVehicle deliveries, already announced, rose dramatically YOY.\nRevenue is expected to soar on expanding vehicle sales.\n\nNIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.\nInvestors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.\nVehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.\nShares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&P 500's total return of 45.5%.\nSource: TradingView.\nNIO Earnings History\nThe stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's Q4 FY 2020 earnings report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its gross margin rose to 17.2% compared to negative 8.9% in the year-ago quarter.\nIn Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.\nAnalysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.\nSource: Visible Alpha; NIO Inc.\nThe Key Metric\nAs mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.\nNIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":624,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354761452,"gmtCreate":1617201682776,"gmtModify":1634522079682,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Tesla to 1000","listText":"Tesla to 1000","text":"Tesla to 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are bad","listText":"Times are bad","text":"Times are bad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/378452647","repostId":"2129808688","repostType":4,"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343741853,"gmtCreate":1617758037072,"gmtModify":1634296701001,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Can Fubo TV pull it off","listText":"Can Fubo TV pull it off","text":"Can Fubo TV pull it off","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/343741853","repostId":"2125166557","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349255746,"gmtCreate":1617618841585,"gmtModify":1634297540877,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Super overvalued","listText":"Super overvalued","text":"Super overvalued","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/349255746","repostId":"1132458726","repostType":4,"repost":{"id":"1132458726","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":1617617593,"share":"https://www.laohu8.com/m/news/1132458726?lang=zh_CN&edition=full","pubTime":"2021-04-05 18:13","market":"us","language":"en","title":"GameStop shares plunged 11% in premarket trading after announcing share sale plan<blockquote>宣布股票出售计划后，游戏驿站股价在盘前交易中暴跌11%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132458726","media":"Tiger Newspress","summary":"GameStop plunged 11% in premarket trading.Company Can Sell Up to 3.5 Million Shares and Intends to Use Any Proceeds to Further Accelerate Transformation and Strengthen Balance Sheet。Common Stock will be offered through Jefferies LLC , which is serving as the sales agent. Jefferies may sell Common Stock by any lawful method deemed to be an “at-the-market offering” defined by Rule 415 of the Securities Act of 1933, as amended, including without limitation, sales on any existing trading market. Sal","content":"<p>GameStop plunged 11% in premarket trading.Company Can Sell Up to 3.5 Million Shares and Intends to Use Any Proceeds to Further Accelerate Transformation and Strengthen Balance Sheet。</p><p><blockquote>游戏驿站在盘前交易中暴跌11%。公司最多可出售350万股股票，并打算将所得收益用于进一步加速转型并加强资产负债表。</blockquote></p><p><img src=\"https://static.tigerbbs.com/21c233ab00cebf3e12f45e26ad14dfee\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has filed a prospectus supplement withthe U.S. Securities and Exchange Commission (“SEC”), under which it may offer and sell up to a maximum of 3,500,000 shares of its common stock (the “Common Stock”) from time to time through an “at-the-market” equity offering program (the “ATM Offering”). The Company intends to use the net proceeds from any sales of its Common Stock under the ATM Offering to further accelerate its transformation as well as for general corporate purposes and further strengthening its balance sheet. The timing and amount of any sales will be determined by a variety of factors considered by the Company.</p><p><blockquote>游戏驿站公司（纽约证券交易所股票代码：GME）（“游戏驿站”或“公司”）今天宣布，它已向美国证券交易委员会（“SEC”）提交了招股说明书补充文件，根据该文件，它可以通过“市场”股票发行计划（“ATM发行”）不时发行最多3,500,000股普通股（“普通股”）。该公司打算将ATM发行下出售普通股的净收益用于进一步加速其转型以及一般公司用途并进一步加强其资产负债表。任何销售的时间和金额将由公司考虑的各种因素决定。</blockquote></p><p>Common Stock will be offered through Jefferies LLC (“Jefferies”), which is serving as the sales agent. Jefferies may sell Common Stock by any lawful method deemed to be an “at-the-market offering” defined by Rule 415(a)(4) of the Securities Act of 1933, as amended, including without limitation, sales on any existing trading market. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices. As a result, sales prices may vary.</p><p><blockquote>普通股将通过担任销售代理的Jefferies LLC（“Jefferies”）发行。杰富瑞可以通过任何被视为1933年证券法（经修订）第415（a）（4）条定义的“市场发行”的合法方法出售普通股，包括但不限于在任何现有交易市场上出售。销售可以按销售时的现行市场价格或与现行市场价格相关的价格进行。因此，销售价格可能会有所不同。</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>GameStop shares plunged 11% in premarket trading after announcing share sale plan<blockquote>宣布股票出售计划后，游戏驿站股价在盘前交易中暴跌11%</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\">\nGameStop shares plunged 11% in premarket trading after announcing share sale plan<blockquote>宣布股票出售计划后，游戏驿站股价在盘前交易中暴跌11%</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\">2021-04-05 18:13</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>GameStop plunged 11% in premarket trading.Company Can Sell Up to 3.5 Million Shares and Intends to Use Any Proceeds to Further Accelerate Transformation and Strengthen Balance Sheet。</p><p><blockquote>游戏驿站在盘前交易中暴跌11%。公司最多可出售350万股股票，并打算将所得收益用于进一步加速转型并加强资产负债表。</blockquote></p><p><img src=\"https://static.tigerbbs.com/21c233ab00cebf3e12f45e26ad14dfee\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has filed a prospectus supplement withthe U.S. Securities and Exchange Commission (“SEC”), under which it may offer and sell up to a maximum of 3,500,000 shares of its common stock (the “Common Stock”) from time to time through an “at-the-market” equity offering program (the “ATM Offering”). The Company intends to use the net proceeds from any sales of its Common Stock under the ATM Offering to further accelerate its transformation as well as for general corporate purposes and further strengthening its balance sheet. The timing and amount of any sales will be determined by a variety of factors considered by the Company.</p><p><blockquote>游戏驿站公司（纽约证券交易所股票代码：GME）（“游戏驿站”或“公司”）今天宣布，它已向美国证券交易委员会（“SEC”）提交了招股说明书补充文件，根据该文件，它可以通过“市场”股票发行计划（“ATM发行”）不时发行最多3,500,000股普通股（“普通股”）。该公司打算将ATM发行下出售普通股的净收益用于进一步加速其转型以及一般公司用途并进一步加强其资产负债表。任何销售的时间和金额将由公司考虑的各种因素决定。</blockquote></p><p>Common Stock will be offered through Jefferies LLC (“Jefferies”), which is serving as the sales agent. Jefferies may sell Common Stock by any lawful method deemed to be an “at-the-market offering” defined by Rule 415(a)(4) of the Securities Act of 1933, as amended, including without limitation, sales on any existing trading market. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices. As a result, sales prices may vary.</p><p><blockquote>普通股将通过担任销售代理的Jefferies LLC（“Jefferies”）发行。杰富瑞可以通过任何被视为1933年证券法（经修订）第415（a）（4）条定义的“市场发行”的合法方法出售普通股，包括但不限于在任何现有交易市场上出售。销售可以按销售时的现行市场价格或与现行市场价格相关的价格进行。因此，销售价格可能会有所不同。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132458726","content_text":"GameStop plunged 11% in premarket trading.Company Can Sell Up to 3.5 Million Shares and Intends to Use Any Proceeds to Further Accelerate Transformation and Strengthen Balance Sheet。GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has filed a prospectus supplement withthe U.S. Securities and Exchange Commission (“SEC”), under which it may offer and sell up to a maximum of 3,500,000 shares of its common stock (the “Common Stock”) from time to time through an “at-the-market” equity offering program (the “ATM Offering”). The Company intends to use the net proceeds from any sales of its Common Stock under the ATM Offering to further accelerate its transformation as well as for general corporate purposes and further strengthening its balance sheet. The timing and amount of any sales will be determined by a variety of factors considered by the Company.Common Stock will be offered through Jefferies LLC (“Jefferies”), which is serving as the sales agent. Jefferies may sell Common Stock by any lawful method deemed to be an “at-the-market offering” defined by Rule 415(a)(4) of the Securities Act of 1933, as amended, including without limitation, sales on any existing trading market. Sales may be made at market prices prevailing at the time of a sale or at prices related to prevailing market prices. As a result, sales prices may vary.","news_type":1,"symbols_score_info":{"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":209,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159579913,"gmtCreate":1624975538332,"gmtModify":1633946304634,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Yeaah","listText":"Yeaah","text":"Yeaah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/159579913","repostId":"2147343850","repostType":4,"isVote":1,"tweetType":1,"viewCount":1435,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345179859,"gmtCreate":1618293160971,"gmtModify":1634293897392,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"3000 in 5 years","listText":"3000 in 5 years","text":"3000 in 5 years","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/345179859","repostId":"1140705302","repostType":4,"repost":{"id":"1140705302","kind":"news","pubTimestamp":1618282895,"share":"https://www.laohu8.com/m/news/1140705302?lang=zh_CN&edition=full","pubTime":"2021-04-13 11:01","market":"us","language":"en","title":"Tesla Stock: Headed to $1,071?<blockquote>特斯拉股票：将升至1,071美元？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1140705302","media":"Motley Fool","summary":"This analyst thinks shares could soar 53% over the next 12 months.Shares of Tesla  popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.After the growth stock hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pu","content":"<p>This analyst thinks shares could soar 53% over the next 12 months.</p><p><blockquote>这位分析师认为，未来12个月股价可能会飙升53%。</blockquote></p><p>Shares of&nbsp;<b>Tesla</b>&nbsp;(NASDAQ:TSLA)&nbsp;popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.</p><p><blockquote>本公司之股份<b>特斯拉</b>（纳斯达克：TSLA）周一大涨，涨近4%。此前，分析师大幅上调了该股的目标价。Canaccord Genuity分析师Jed Dorsheimer现在认为这家电动汽车制造商的股价可能会在未来12个月内升至1,071美元。</blockquote></p><p>After the&nbsp;growth stock&nbsp;hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pullback created a buying opportunity?</p><p><blockquote>在今年早些时候创下略高于900美元的历史新高后，该股在2月的部分时间和3月初大幅下滑。回调是否创造了买入机会？</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ec999f3452554425f3330e1f6d5ebb1\" tg-width=\"2000\" tg-height=\"1052\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p><b>The path to $1,071</b></p><p><blockquote><b>通往1,071美元的道路</b></blockquote></p><p>Dorsheimer more than doubled his price target for Tesla, increasing it from $419 to $1,071. In addition, the analyst changed his rating on the stock from hold to buy.</p><p><blockquote>Dorsheimer将特斯拉的目标价提高了一倍多，从419美元提高到1071美元。此外，该分析师将该股评级从持有调整为买入。</blockquote></p><p>While Tesla makes most of its revenue from electric cars, the analyst's upgrade for the stock today has a lot to do with his bullish view for the company's solar and energy storage business. He believes Tesla's energy generation and storage business could rake in $8 billion of revenue annually by 2025 thanks to an \"<b>Apple</b>-esque ecosystem of energy products\" and \"harmonized electrification.\" Dorsheimer thinks that as Tesla resolves the battery cell supply shortage it said it was facing in its most recent quarterly update, the company is well positioned to grow the business through sales of its energy storage products. He also believes Tesla is several years ahead of the competition in energy storage, giving it an edge.</p><p><blockquote>虽然特斯拉的大部分收入来自电动汽车，但分析师今天对该股的评级上调与他对该公司太阳能和储能业务的看好有很大关系。他相信，到2025年，特斯拉的能源生产和存储业务每年可获得80亿美元的收入，这要归功于“<b>苹果</b>-能源产品生态系统”和“协调电气化”。多斯海默认为，随着特斯拉解决其在最近的季度更新中表示面临的电池供应短缺问题，该公司完全有能力通过销售其储能产品来发展业务。他还认为，特斯拉在储能领域的竞争中领先数年，这使其具有优势。</blockquote></p><p><b>Momentum in energy</b></p><p><blockquote><b>能量动量</b></blockquote></p><p>Though Tesla's electric-car business gets more attention than its energy storage business since that's where the bulk of the company's sales come from, energy storage deployments actually grew faster in 2020 than electric-car sales. Total energy storage deployments, measured in gigawatt hours (GWh), increased 83% year over year to 3 GWh in 2020.</p><p><blockquote>尽管特斯拉的电动汽车业务比其储能业务受到更多关注，因为这是该公司大部分销售额的来源，但2020年储能部署的增长实际上快于电动汽车销量。2020年，储能部署总量（以吉瓦时(GWh)为单位）同比增长83%，达到3 GWh。</blockquote></p><p>\"This growth was driven mainly by the popularity of Megapack, our utility scale storage product,\" Tesla told&nbsp;investors&nbsp;in its fourth-quarter update. \"Powerwall demand continues to increase as the residential business continues to grow.\"</p><p><blockquote>特斯拉在第四季度更新中告诉投资者：“这一增长主要是由我们的公用事业规模存储产品Megapack的受欢迎推动的。”“随着住宅业务的持续增长，Powerwall需求也在持续增加。”</blockquote></p><p>Impressively, this growth came even as production was limited. \"Our energy storage business continues to be supply constrained as backlog remains strong,\" Tesla said. But its efforts to increase cell production will help the company ramp up supply \"in the next few months.\" Because of this, the automaker anticipates its energy storage business will grow at approximately the same rate in 2021 as it did in 2020.</p><p><blockquote>令人印象深刻的是，尽管产量有限，但这种增长还是实现了。特斯拉表示：“由于积压订单仍然强劲，我们的储能业务继续受到供应限制。”但其提高电池产量的努力将有助于该公司“在未来几个月”增加供应。因此，该汽车制造商预计其储能业务在2021年的增长速度将与2020年大致相同。</blockquote></p><p>Tesla's solar business is growing slower, with megawatts of solar deployments increasing 18% in 2020 from the prior year. But this segment saw accelerated growth in the fourth quarter, when deployments grew 59% year over year.</p><p><blockquote>特斯拉太阳能业务增长放缓，2020年太阳能部署兆瓦数较上年增长18%。但该细分市场在第四季度加速增长，部署量同比增长59%。</blockquote></p><p>While investors should be sure to do their own due diligence on Tesla stock, Dorsheimer does highlight an often-underappreciated aspect of the business that could become a significant contributor to Tesla's bottom line.</p><p><blockquote>虽然投资者应该确保对特斯拉股票进行自己的尽职调查，但多斯海默确实强调了该业务中一个经常被低估的方面，这可能会成为特斯拉利润的重要贡献者。</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>Tesla Stock: Headed to $1,071?<blockquote>特斯拉股票：将升至1,071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\">\nTesla Stock: Headed to $1,071?<blockquote>特斯拉股票：将升至1,071美元？</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\">2021-04-13 11:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p>This analyst thinks shares could soar 53% over the next 12 months.</p><p><blockquote>这位分析师认为，未来12个月股价可能会飙升53%。</blockquote></p><p>Shares of&nbsp;<b>Tesla</b>&nbsp;(NASDAQ:TSLA)&nbsp;popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.</p><p><blockquote>本公司之股份<b>特斯拉</b>（纳斯达克：TSLA）周一大涨，涨近4%。此前，分析师大幅上调了该股的目标价。Canaccord Genuity分析师Jed Dorsheimer现在认为这家电动汽车制造商的股价可能会在未来12个月内升至1,071美元。</blockquote></p><p>After the&nbsp;growth stock&nbsp;hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pullback created a buying opportunity?</p><p><blockquote>在今年早些时候创下略高于900美元的历史新高后，该股在2月的部分时间和3月初大幅下滑。回调是否创造了买入机会？</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ec999f3452554425f3330e1f6d5ebb1\" tg-width=\"2000\" tg-height=\"1052\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p><b>The path to $1,071</b></p><p><blockquote><b>通往1,071美元的道路</b></blockquote></p><p>Dorsheimer more than doubled his price target for Tesla, increasing it from $419 to $1,071. In addition, the analyst changed his rating on the stock from hold to buy.</p><p><blockquote>Dorsheimer将特斯拉的目标价提高了一倍多，从419美元提高到1071美元。此外，该分析师将该股评级从持有调整为买入。</blockquote></p><p>While Tesla makes most of its revenue from electric cars, the analyst's upgrade for the stock today has a lot to do with his bullish view for the company's solar and energy storage business. He believes Tesla's energy generation and storage business could rake in $8 billion of revenue annually by 2025 thanks to an \"<b>Apple</b>-esque ecosystem of energy products\" and \"harmonized electrification.\" Dorsheimer thinks that as Tesla resolves the battery cell supply shortage it said it was facing in its most recent quarterly update, the company is well positioned to grow the business through sales of its energy storage products. He also believes Tesla is several years ahead of the competition in energy storage, giving it an edge.</p><p><blockquote>虽然特斯拉的大部分收入来自电动汽车，但分析师今天对该股的评级上调与他对该公司太阳能和储能业务的看好有很大关系。他相信，到2025年，特斯拉的能源生产和存储业务每年可获得80亿美元的收入，这要归功于“<b>苹果</b>-能源产品生态系统”和“协调电气化”。多斯海默认为，随着特斯拉解决其在最近的季度更新中表示面临的电池供应短缺问题，该公司完全有能力通过销售其储能产品来发展业务。他还认为，特斯拉在储能领域的竞争中领先数年，这使其具有优势。</blockquote></p><p><b>Momentum in energy</b></p><p><blockquote><b>能量动量</b></blockquote></p><p>Though Tesla's electric-car business gets more attention than its energy storage business since that's where the bulk of the company's sales come from, energy storage deployments actually grew faster in 2020 than electric-car sales. Total energy storage deployments, measured in gigawatt hours (GWh), increased 83% year over year to 3 GWh in 2020.</p><p><blockquote>尽管特斯拉的电动汽车业务比其储能业务受到更多关注，因为这是该公司大部分销售额的来源，但2020年储能部署的增长实际上快于电动汽车销量。2020年，储能部署总量（以吉瓦时(GWh)为单位）同比增长83%，达到3 GWh。</blockquote></p><p>\"This growth was driven mainly by the popularity of Megapack, our utility scale storage product,\" Tesla told&nbsp;investors&nbsp;in its fourth-quarter update. \"Powerwall demand continues to increase as the residential business continues to grow.\"</p><p><blockquote>特斯拉在第四季度更新中告诉投资者：“这一增长主要是由我们的公用事业规模存储产品Megapack的受欢迎推动的。”“随着住宅业务的持续增长，Powerwall需求也在持续增加。”</blockquote></p><p>Impressively, this growth came even as production was limited. \"Our energy storage business continues to be supply constrained as backlog remains strong,\" Tesla said. But its efforts to increase cell production will help the company ramp up supply \"in the next few months.\" Because of this, the automaker anticipates its energy storage business will grow at approximately the same rate in 2021 as it did in 2020.</p><p><blockquote>令人印象深刻的是，尽管产量有限，但这种增长还是实现了。特斯拉表示：“由于积压订单仍然强劲，我们的储能业务继续受到供应限制。”但其提高电池产量的努力将有助于该公司“在未来几个月”增加供应。因此，该汽车制造商预计其储能业务在2021年的增长速度将与2020年大致相同。</blockquote></p><p>Tesla's solar business is growing slower, with megawatts of solar deployments increasing 18% in 2020 from the prior year. But this segment saw accelerated growth in the fourth quarter, when deployments grew 59% year over year.</p><p><blockquote>特斯拉太阳能业务增长放缓，2020年太阳能部署兆瓦数较上年增长18%。但该细分市场在第四季度加速增长，部署量同比增长59%。</blockquote></p><p>While investors should be sure to do their own due diligence on Tesla stock, Dorsheimer does highlight an often-underappreciated aspect of the business that could become a significant contributor to Tesla's bottom line.</p><p><blockquote>虽然投资者应该确保对特斯拉股票进行自己的尽职调查，但多斯海默确实强调了该业务中一个经常被低估的方面，这可能会成为特斯拉利润的重要贡献者。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/12/tesla-stock-headed-to-1071/\">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":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/04/12/tesla-stock-headed-to-1071/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140705302","content_text":"This analyst thinks shares could soar 53% over the next 12 months.Shares of Tesla (NASDAQ:TSLA) popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.After the growth stock hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pullback created a buying opportunity?IMAGE SOURCE: GETTY IMAGES.The path to $1,071Dorsheimer more than doubled his price target for Tesla, increasing it from $419 to $1,071. In addition, the analyst changed his rating on the stock from hold to buy.While Tesla makes most of its revenue from electric cars, the analyst's upgrade for the stock today has a lot to do with his bullish view for the company's solar and energy storage business. He believes Tesla's energy generation and storage business could rake in $8 billion of revenue annually by 2025 thanks to an \"Apple-esque ecosystem of energy products\" and \"harmonized electrification.\" Dorsheimer thinks that as Tesla resolves the battery cell supply shortage it said it was facing in its most recent quarterly update, the company is well positioned to grow the business through sales of its energy storage products. He also believes Tesla is several years ahead of the competition in energy storage, giving it an edge.Momentum in energyThough Tesla's electric-car business gets more attention than its energy storage business since that's where the bulk of the company's sales come from, energy storage deployments actually grew faster in 2020 than electric-car sales. Total energy storage deployments, measured in gigawatt hours (GWh), increased 83% year over year to 3 GWh in 2020.\"This growth was driven mainly by the popularity of Megapack, our utility scale storage product,\" Tesla told investors in its fourth-quarter update. \"Powerwall demand continues to increase as the residential business continues to grow.\"Impressively, this growth came even as production was limited. \"Our energy storage business continues to be supply constrained as backlog remains strong,\" Tesla said. But its efforts to increase cell production will help the company ramp up supply \"in the next few months.\" Because of this, the automaker anticipates its energy storage business will grow at approximately the same rate in 2021 as it did in 2020.Tesla's solar business is growing slower, with megawatts of solar deployments increasing 18% in 2020 from the prior year. But this segment saw accelerated growth in the fourth quarter, when deployments grew 59% year over year.While investors should be sure to do their own due diligence on Tesla stock, Dorsheimer does highlight an often-underappreciated aspect of the business that could become a significant contributor to Tesla's bottom line.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":110376534,"gmtCreate":1622427756028,"gmtModify":1634101563412,"author":{"id":"3571885278258727","authorId":"3571885278258727","name":"andyzui","avatar":"https://static.tigerbbs.com/af10d3205773c13fedb461b75f3489ae","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571885278258727","idStr":"3571885278258727"},"themes":[],"htmlText":"Bubble finally starts to burst","listText":"Bubble finally starts to burst","text":"Bubble finally starts to 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