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Jcjn

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2021-03-22

Comment me plsssss

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2021-02-22

Wow

Who Rules the Cloud? The Answer Is Hazy.<blockquote>谁统治云？答案是模糊的。</blockquote>

2021-03-20

Liking commenting me pleasing

Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>

2021-03-10

Comment me pls

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2021-03-15

Comment me pls oink

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2021-03-22

Potato box

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2021-03-12

Like me pls

The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票又高飞了</blockquote>

2021-03-02

Comment me please

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2021-02-25

Banana fishcakes. Yum.

Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote>

2021-02-21

Like me please

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you like me","listText":"Please you like me","text":"Please you like me","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/352867595","repostId":"2122472374","repostType":4,"isVote":1,"tweetType":1,"viewCount":1903,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352867239,"gmtCreate":1616931075321,"gmtModify":1634523494651,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Liking me please&nbsp;","listText":"Liking me please&nbsp;","text":"Liking me please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/352867239","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","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":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=zh_CN&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预计将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（以收益计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></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>Zhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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\">\nZhihu Technology fall on its first day of trading<blockquote>知乎科技上市首日下跌</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\">2021-03-27 01:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股8.02美元，比该公司9.5美元的IPO价格低约15.6%。知乎IPO价格处于区间低端，公司估值约为53亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五宣布其首次公开募股定价为每股美国存托股9.50美元，处于预期区间的低端。这家总部位于中国的在线内容公司在IPO中发行了5500万份ADS，筹集了5.225亿美元，而该公司的定价约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎的商业模式与Quora相似，数百万人提问并交流他们的观点和经验。知乎已经成为国内最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。我们预计广告占收入的百分比将在未来五年内逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们预计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年和2025年分别增至31.5%和37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率从2019年的46.6%提升至2020年的56.0%。我们假设毛利率在2021年和2025年进一步提高至57.4%和62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用和营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总运营费用占收入的百分比由2019年的204.4%大幅下降至2020年的100.6%。我们预计这一比例将在2021年进一步提高至79%，2022年为69.2%，2025年为57.2%。运营费用的改善大部分来自未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>2020年底，知乎累计有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户为7570万，同比增长33%。该公司的关键优势之一是，它被公认为最值得信赖的在线内容社区之一，并被视为提供中国最优质的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎获得了包括百度和快手科技在内的领先投资者4.34亿美元的融资，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率估值倍数为36倍。如果我们将相同的市盈率倍数应用于该公司2020年2.07亿美元的销售额，这将表明隐含估值为75亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初是在2010年作为一个问答在线社区开发的。截至2020年底，共有3.15亿次问答，跨越1000多个垂直领域和57.1万个主题。按2020年平均移动月活跃用户数及收入计，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周元拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>关键人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性用户占总用户的56.9%。30岁以下人群占其总用户群的78.7%。一线及新一线城市佔总用户群的52.6%。知乎的很多用户都是学生和白领专业人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占公司收入的最大部分。2019年和2020年，广告分别占总收入的86.1%和62.4%。该公司的广告收入主要由其月活跃用户数和每个月活跃用户数的广告收入推动。2020年，公司月活跃用户数同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年引入付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，月均会员同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，公司推出Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了对约340万个付费内容的无限制访问，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它显示了高质量的数据和内容如何能够产生大量收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>2020年，内容商务解决方案和其他销售额也大幅增长。内容商务解决方案收入从2019年的60万元跃升至2020年的1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足其所有销售和营销需求，包括营销计划、为感兴趣的用户分配最相关的内容创作者以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将成为未来几年增长最快的行业之一。根据灼识谘询的资料，中国内容商务解决方案市场预期于2019年至2025年将享有46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指专注于UGC（用户生成内容）（包括PUGC（专业用户生成内容））的在线内容市场参与者，其中内容创作者也是用户，他们积极参与社区。与PGC（专业生成内容）玩家相比，内容社区通常可以激发更高水平的用户参与度、更具互动性的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由2015年的386亿元人民币增至2019年的2758亿元人民币，预计将进一步增至2025年的1.3万亿元人民币，2019年至2025年的复合年增长率为30.3%，高于整体在线内容市场增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电商、内容电商解决方案、直播虚拟礼品、在线游戏及在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一个主要积极因素是，越来越多的中国消费者愿意为更高质量的内容付费。预计2019年至2025年期间，中国在线内容社区的付费用户数量将以17.1%的复合年增长率增长，这意味着在线内容社区的额外付费用户将增加3.604亿至2025年的5.882亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国在线内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场较2015年增长两倍，2019年达到1.2万亿人民币。预计该市场将于2025年增至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015年至2025年（估计）中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国在线内容社区的市场规模（以收益计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国付费会员市场规模（以收入计），2015年至2025年（估计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供综合内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到向感兴趣的用户分发。中国内容商务解决方案市场预期将由2019年的人民币114亿元增长至2025年的人民币1123亿元，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>二零一五年至二零二五年（估计）中国内容商务解决方案市场规模（以收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":1826,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358596376,"gmtCreate":1616714535495,"gmtModify":1634524458846,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Like and comment me pls","listText":"Like and comment me pls","text":"Like and comment me 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pleasing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/350829933","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohu8.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>","source":"market_watch","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>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</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\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1498,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327601244,"gmtCreate":1616078389288,"gmtModify":1634527340963,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me pls","listText":"Comment me pls","text":"Comment me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/327601244","repostId":"1122053265","repostType":4,"isVote":1,"tweetType":1,"viewCount":1791,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327189286,"gmtCreate":1616069760345,"gmtModify":1634527404914,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me pls","listText":"Comment me pls","text":"Comment me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327189286","repostId":"1169669203","repostType":4,"repost":{"id":"1169669203","kind":"news","pubTimestamp":1616067312,"share":"https://www.laohu8.com/m/news/1169669203?lang=zh_CN&edition=full","pubTime":"2021-03-18 19:35","market":"us","language":"en","title":"A Return to Wall Street’s Low-Rent District<blockquote>重返华尔街廉租区</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169669203","media":"NewYork Times","summary":"Penny stocks are back. Critics are worried.\n\nPenny stocks are back\nOf all the trading manias in rece","content":"<p>  <b>Penny stocks are back. Critics are worried.</b>  Penny stocks are back</p><p><blockquote><b>细价股又回来了。批评家们很担心。</b>细价股又回来了</blockquote></p><p> Of all the trading manias in recent months — Bitcoin, SPACs, meme stocks, nonfungible tokens — the latest has a long history of fraud and scandal. That’s right,penny stocksare booming, according to The Times’s Matt Phillips, who visited the “low-rent district of Wall Street.”</p><p><blockquote>在最近几个月的所有交易热潮中——比特币、SPAC、模因股票、不可替代代币——最新的交易有着悠久的欺诈和丑闻历史。没错，《泰晤士报》的马特·菲利普斯（Matt Phillips）访问了“华尔街廉租区”，他表示，细价股正在蓬勃发展。</blockquote></p><p> <b>There were 1.9 trillion transactions last month on the over-the-counter markets,</b>where such stocks trade, according to the industry regulator Finra. That’s up more than 2,000 percent from a year earlier, driven in large part by the surge in retail trading — enabled by commission-free trading from online brokerages — that has also stoked the frenzy for shares in GameStop and other speculative assets.</p><p><blockquote><b>上个月场外交易市场的交易量为1.9万亿美元，</b>根据行业监管机构Finra的说法，此类股票的交易地点。这一数字比一年前增长了2000%以上，这在很大程度上是由在线经纪公司的免佣金交易推动的零售交易激增推动的，这也引发了对游戏驿站和其他投机性资产股票的狂热。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/aa58f6e2e2054d5abe4bdd404453bc3a\" tg-width=\"1240\" tg-height=\"840\" referrerpolicy=\"no-referrer\"><b>Penny stocks have always lent themselves to quick fortunes,</b>given that small inflows to these low-priced, thinly traded shares can make prices go berserk. That also makes them prone to fraud like pump and dumps, updated for the modern age with schemes hatched on social media. “It’s all just a pool filled with sharks,” said Urska Velikonja, a law professor at Georgetown. “It’s where the unwary go to get eaten.”</p><p><blockquote><b>细价股总是能快速致富，</b>鉴于这些低价、交易清淡的股票的少量资金流入可能会导致价格疯狂。这也使他们容易受到欺诈，如泵和转储，更新为现代社会在社交媒体上孵化的计划。“这只是一个充满鲨鱼的游泳池，”乔治敦大学法学教授乌尔斯卡·维利孔贾(Urska Velikonja)说。“这是粗心的人被吃掉的地方。”</blockquote></p><p> <b>Penny-stock frenzies are common in raging bull markets.</b>The current fervor among retail traders presents unnerving echoes from the past, according to Tyler Gellasch of the nonprofit Healthy Markets Association. Based on the scale of the recent mania, “the only relevant historical precedent seems to increasingly be the days before the Great Depression,” he said.</p><p><blockquote><b>细价股狂热在熊市中很常见。</b>非营利性健康市场协会的泰勒·盖拉施表示，目前散户交易者的热情与过去令人不安。根据最近狂热的规模，“唯一相关的历史先例似乎越来越多地是大萧条之前的日子，”他说。</blockquote></p><p> <b>Take it from Jordan Belfort, of “The Wolf of Wall Street.”</b>“Everyone wants to get rich,” Mr. Belfort, a former “boiler-room” operator who pleaded guilty to market manipulation, told Matt, “and they want to get rich quick.” He added that an element of naïveté underpinned such trading: “We all want to believe in Santa Claus, the Tooth Fairy and Bernie Madoff.”</p><p><blockquote><b>借用《华尔街之狼》的乔丹·贝尔福特的话。</b>“每个人都想致富，”承认操纵市场的前“锅炉房”操作员贝尔福特先生告诉马特，“而且他们想快速致富。”他补充说，这种交易背后有一种天真的成分：“我们都想相信圣诞老人、牙仙和伯尼·麦道夫。”</blockquote></p><p> <b>HERE’S WHAT’S HAPPENING</b></p><p><blockquote><b>事情是这样的</b></blockquote></p><p> <b>The Fed keeps its policies steady.</b>As expected, the central bankleft interest rates at rock-bottom levels, despite improving economic growth forecasts. But the Upshot’s Neil Irwin notes that it may become harder for Jay Powell, the Fed chair, towave away criticismof those who think monetary policy is too loose.</p><p><blockquote><b>美联储保持政策稳定。</b>正如预期的那样，尽管经济增长预测有所改善，但央行仍将利率维持在最低水平。但Upshot的尼尔·欧文指出，美联储主席杰伊·鲍威尔可能更难驳斥那些认为货币政策过于宽松的人的批评。</blockquote></p><p> <b>The I.R.S. delays the tax filing deadline.</b>Americanshave until May 17 to filetheir federal income taxes, a delay meant to help people cope with the pandemic’s economic upheaval and account for changes from the rescue plan.</p><p><blockquote><b>国税局。推迟报税截止日期。</b>美国人必须在5月17日之前缴纳联邦所得税，这一延迟旨在帮助人们应对疫情带来的经济动荡并解释救援计划的变化。</blockquote></p><p> <b>Credit Suisse overhauls its business after the Greensill scandal.</b>The Swiss bank willseparate its asset-management division, replace its chief and suspend bonuses over the unit’s role in financing Greensill Capital, the supply-chain financing lender that collapsed this month.</p><p><blockquote><b>格林希尔丑闻后，瑞士信贷对其业务进行了彻底改革。</b>这家瑞士银行将拆分其资产管理部门，更换其负责人，并因该部门在为本月倒闭的供应链融资贷款机构Greensill Capital融资中所扮演的角色而暂停发放奖金。</blockquote></p><p> <b>Gasoline may have hit its peak.</b>Global demandmay never return to pre-pandemic levels, the International Energy Agency said, as more electric vehicles hit the roads and transportation habits change. Use may rise for a bit in places like China and India, but overall consumption in industrialized economies will fall by 2023.</p><p><blockquote><b>汽油可能已经达到顶峰。</b>国际能源署表示，随着越来越多的电动汽车上路和交通习惯的改变，全球需求可能永远不会恢复到大流行前的水平。中国和印度等地的使用量可能会略有上升，但到2023年，工业化经济体的总体消费量将会下降。</blockquote></p><p> <b>Senate confirms President Biden’s top trade official.</b>Katherine Tai willbecome the U.S. trade representative. She is a prominent critic of China’s trade practices, signaling that the White House won’t completely walk back the Trump administration’s tough stance. Top U.S. officials are to meet their Chinese counterparts for the first time today,at a summit meeting in Alaska.</p><p><blockquote><b>参议院确认拜登总统的最高贸易官员。</b>凯瑟琳·戴将成为美国贸易代表。她是中国贸易行为的著名批评者，这表明白宫不会完全扭转特朗普政府的强硬立场。美国高级官员将于今天在阿拉斯加举行的峰会上首次会见中国同行。</blockquote></p><p> <b>Google is doubling down on office space</b></p><p><blockquote><b>谷歌正在加倍投资办公空间</b></blockquote></p><p> Google said today that it planned toinvest $7 billion in offices and data centersin 19 U.S. states, making it the latest tech giantto expand its footprintwhile other companies retrench in a commercial real estate market roiled by the pandemic. Google’s C.E.O., Sundar Pichai, shared the plans in a blog post, saying that the move would create 10,000 jobs at the company this year. (Alphabet, Google’s parent company, employed around 135,000 people at the end of 2020.)</p><p><blockquote>谷歌今天表示，计划投资70亿美元在美国19个州建设办公室和数据中心，使其成为最新一家扩大业务规模的科技巨头，而其他公司则在因疫情而动荡的商业房地产市场上紧缩开支。谷歌首席执行官桑达尔·皮帅在一篇博客文章中分享了这些计划，称此举将在今年为公司创造1万个就业岗位。（截至2020年底，谷歌母公司Alphabet拥有约135,000名员工。）</blockquote></p><p> <b>Google is expanding across the country.</b>The plan includes investments in data centers in places like Nebraska, South Carolina and Texas. The company recently opened its first office in Minnesota and an operations center in Mississippi. It will open its first office in Houston this year.</p><p><blockquote><b>谷歌正在全国范围内扩张。</b>该计划包括对内布拉斯加州、南卡罗来纳州和德克萨斯州等地的数据中心进行投资。该公司最近在明尼苏达州开设了第一个办事处，并在密西西比州开设了运营中心。它将于今年在休斯顿开设第一个办事处。</blockquote></p><p> <b>“Coming together in person to collaborate and build community is core to Google’s culture,”</b>Mr. Pichai wrote. Google was one of the first companies to tell employees to work from home, and it expects workers to begin returning to offices in September. When that happens, it will test a “flexible workweek,” with employees spending at least three days a week in the office.</p><p><blockquote><b>“亲自聚集在一起进行协作和建立社区是谷歌文化的核心，”</b>皮查伊先生写道。谷歌是最早告诉员工在家工作的公司之一，预计员工将于9月份开始返回办公室。当这种情况发生时，它将测试“弹性工作周”，员工每周至少在办公室呆三天。</blockquote></p><p></p><p>   <b>“Many have framed the GameStop mania as a David versus Goliath struggle. I believe it is more likely that, when we have full information about this episode, the story will more closely resemble Goliath vs. Goliath.”</b>  <i>— Alexis Goldstein, a senior policy analyst for Americans for Financial Reform, at aCongressional hearingwhich focused on the relationship between brokers like Robinhood and market makers like Citadel Securities.</i>  <b>Charting the blank-check boom</b></p><p><blockquote><b>“许多人将游戏驿站狂热框定为大卫与歌利亚的斗争。我相信，当我们掌握有关这一集的全部信息时，故事更有可能更类似于歌利亚与歌利亚的斗争。”</b><i>——美国金融改革组织高级政策分析师亚历克西斯·戈尔茨坦(Alexis Goldstein)在国会听证会上，该听证会重点讨论了Robinhood等经纪商与Citadel Securities等做市商之间的关系。</i><b>绘制空白支票繁荣图</b></blockquote></p><p> <b>SPACs have already raised more money this year than in all of 2020</b>, setting a record for blank-check deal volume. More than $84 billion has been raised by 264 SPACs to date, according to Dealogic, compared with $83 billion raised by 256 acquisition vehicles last year.</p><p><blockquote><b>SPAC今年筹集的资金已超过2020年全年</b>，创下空白支票交易量纪录。根据Dealogic的数据，迄今为止，264家SPAC已经筹集了超过840亿美元，而去年256家收购工具筹集了830亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ba3fa2a85adf8dd5c4b5da6857556353\" tg-width=\"1240\" tg-height=\"840\"></p><p><blockquote></blockquote></p><p> <b>SPACs sitting on some $135 billion are currently seeking takeover targets</b>, according to SPAC Research. Since they typically buy companies five times their size, that implies buying power of well over $600 billion, setting up a scramble for deals within the two-year window written into the rules of most SPACs.</p><p><blockquote><b>坐拥约1350亿美元的SPAC目前正在寻求收购目标</b>，根据SPAC研究。由于他们通常收购规模是其五倍的公司，这意味着购买力远超6000亿美元，这在大多数SPAC规则中写入的两年窗口内引发了交易争夺战。</blockquote></p><p> <ul>  <li>Lordstown Motors, an electric vehicle company that went public via SPAC last year, said yesterday that it wascooperating with an S.E.C. inquiry, after a short seller accused it of misleading investors about its business prospects.</li> </ul> <b>The S.E.C.’s crypto commissioner</b></p><p><blockquote><ul><li>去年通过SPAC上市的电动汽车公司洛兹敦汽车公司(Lordstown Motors)昨天表示，正在与证券交易委员会合作。在一名卖空者指责该公司在其业务前景方面误导投资者后进行了调查。</li></ul><b>美国证券交易委员会加密货币专员</b></blockquote></p><p> Hester Peirce is one of the few financial regulators with an online fan base and a nickname. Known to some as “Crypto Mom,” she’s been raising the profile of cryptocurrencies and blockchain technology since being appointed an S.E.C. commissioner in 2018. On “Blockchain Policy Matters,” an online show by the Blockchain Association, a trade group, Ms. Peirce described her hopes for innovation and regulation of the crypto world. DealBook got a preview of the show,which posts today.</p><p><blockquote>赫斯特·皮尔斯(Hester Peirce)是少数拥有在线粉丝群和昵称的金融监管者之一。她被一些人称为“加密妈妈”，自从被任命为证券交易委员会成员以来，她一直在提高加密货币和区块链技术的知名度。2018年专员。在贸易组织区块链协会的在线节目“区块链政策问题”中，皮尔斯女士描述了她对加密世界创新和监管的希望。DealBook获得了该节目的预览，并于今天发布。</blockquote></p><p> <b>“Everyone is getting smarter on this stuff,”</b>Ms. Peirce said of regulators considering crypto issues. Engaging more with the private sector “can help us regulators sharpen our thinking,” she said, which could be “more nuanced.”</p><p><blockquote><b>“大家在这方面越来越聪明了。”</b>皮尔斯女士谈到监管机构正在考虑加密货币问题。她说，更多地与私营部门接触“可以帮助我们监管者提高思维”，这可能“更加微妙”。</blockquote></p><p> <b>“We’ve dug ourselves into a little bit of a hole,”</b>Ms. Pierce said of the S.E.C.’s refusal thus far to approve a Bitcoin exchange traded fund. “A lot of people are looking for a way to access the asset class.” In the past month, threebitcoin E.T.F.shave begun trading in Canada.</p><p><blockquote><b>“我们给自己挖了个小坑。”</b>Pierce女士谈到了美国证券交易委员会迄今拒绝批准比特币交易所交易基金的情况。“很多人都在寻找进入该资产类别的方法。”在过去的一个月里，threebitcoin E.T.F.shave开始在加拿大交易。</blockquote></p><p> <b>She welcomes Gary Gensler, the blockchain professor, as the agency’s next chief.</b>President Biden’s pick to lead the S.E.C. has lectured on cryptocurrency and blockchain at M.I.T. since 2018. Ms. Peirce said she was “hopeful” that he will help the agency think “in a more sophisticated way.” She added that Mr. Gensler has “more inclination to regulate” than she does, but that she believes he’ can provide the regulatory clarity on crypto she has sought.</p><p><blockquote><b>她欢迎区块链教授加里·詹斯勒(Gary Gensler)担任该机构的下一任负责人。</b>拜登总统选择领导证券交易委员会。曾在麻省理工学院讲授加密货币和区块链。从2018年开始。皮尔斯女士说，她“希望”他能帮助该机构“以更复杂的方式”思考。她补充说，詹斯勒先生比她“更倾向于监管”，但她相信他“可以提供她所寻求的对加密货币的监管清晰度”。</blockquote></p><p> <b>Blockchain technology could address the issues raised by meme-stock mania.</b>That includes “concerns around settlement times, tracking where shares are, and who owns what shares when,” Ms. Pierce said. Distributed ledger technology like blockchain could eliminate common failure points in the financial system, rather than centralizing them, Ms. Peirce said, adding: “I hope that a lot of that innovation happens in the private sector as opposed to us taking it over as a securities regulator.”</p><p><blockquote><b>区块链技术可以解决模因股票狂热带来的问题。</b>皮尔斯女士说，这包括“对结算时间、跟踪股票位置以及谁在何时拥有什么股票的担忧”。皮尔斯女士表示，区块链等分布式账本技术可以消除金融系统中常见的故障点，而不是集中它们，并补充道：“我希望很多创新发生在私营部门，而不是我们将其作为证券监管机构。”</blockquote></p><p></p>","source":"lsy1605590967916","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>A Return to Wall Street’s Low-Rent District<blockquote>重返华尔街廉租区</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\">\nA Return to Wall Street’s Low-Rent District<blockquote>重返华尔街廉租区</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">NewYork Times</strong><span class=\"h-time small\">2021-03-18 19:35</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Penny stocks are back. Critics are worried.</b>  Penny stocks are back</p><p><blockquote><b>细价股又回来了。批评家们很担心。</b>细价股又回来了</blockquote></p><p> Of all the trading manias in recent months — Bitcoin, SPACs, meme stocks, nonfungible tokens — the latest has a long history of fraud and scandal. That’s right,penny stocksare booming, according to The Times’s Matt Phillips, who visited the “low-rent district of Wall Street.”</p><p><blockquote>在最近几个月的所有交易热潮中——比特币、SPAC、模因股票、不可替代代币——最新的交易有着悠久的欺诈和丑闻历史。没错，《泰晤士报》的马特·菲利普斯（Matt Phillips）访问了“华尔街廉租区”，他表示，细价股正在蓬勃发展。</blockquote></p><p> <b>There were 1.9 trillion transactions last month on the over-the-counter markets,</b>where such stocks trade, according to the industry regulator Finra. That’s up more than 2,000 percent from a year earlier, driven in large part by the surge in retail trading — enabled by commission-free trading from online brokerages — that has also stoked the frenzy for shares in GameStop and other speculative assets.</p><p><blockquote><b>上个月场外交易市场的交易量为1.9万亿美元，</b>根据行业监管机构Finra的说法，此类股票的交易地点。这一数字比一年前增长了2000%以上，这在很大程度上是由在线经纪公司的免佣金交易推动的零售交易激增推动的，这也引发了对游戏驿站和其他投机性资产股票的狂热。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/aa58f6e2e2054d5abe4bdd404453bc3a\" tg-width=\"1240\" tg-height=\"840\" referrerpolicy=\"no-referrer\"><b>Penny stocks have always lent themselves to quick fortunes,</b>given that small inflows to these low-priced, thinly traded shares can make prices go berserk. That also makes them prone to fraud like pump and dumps, updated for the modern age with schemes hatched on social media. “It’s all just a pool filled with sharks,” said Urska Velikonja, a law professor at Georgetown. “It’s where the unwary go to get eaten.”</p><p><blockquote><b>细价股总是能快速致富，</b>鉴于这些低价、交易清淡的股票的少量资金流入可能会导致价格疯狂。这也使他们容易受到欺诈，如泵和转储，更新为现代社会在社交媒体上孵化的计划。“这只是一个充满鲨鱼的游泳池，”乔治敦大学法学教授乌尔斯卡·维利孔贾(Urska Velikonja)说。“这是粗心的人被吃掉的地方。”</blockquote></p><p> <b>Penny-stock frenzies are common in raging bull markets.</b>The current fervor among retail traders presents unnerving echoes from the past, according to Tyler Gellasch of the nonprofit Healthy Markets Association. Based on the scale of the recent mania, “the only relevant historical precedent seems to increasingly be the days before the Great Depression,” he said.</p><p><blockquote><b>细价股狂热在熊市中很常见。</b>非营利性健康市场协会的泰勒·盖拉施表示，目前散户交易者的热情与过去令人不安。根据最近狂热的规模，“唯一相关的历史先例似乎越来越多地是大萧条之前的日子，”他说。</blockquote></p><p> <b>Take it from Jordan Belfort, of “The Wolf of Wall Street.”</b>“Everyone wants to get rich,” Mr. Belfort, a former “boiler-room” operator who pleaded guilty to market manipulation, told Matt, “and they want to get rich quick.” He added that an element of naïveté underpinned such trading: “We all want to believe in Santa Claus, the Tooth Fairy and Bernie Madoff.”</p><p><blockquote><b>借用《华尔街之狼》的乔丹·贝尔福特的话。</b>“每个人都想致富，”承认操纵市场的前“锅炉房”操作员贝尔福特先生告诉马特，“而且他们想快速致富。”他补充说，这种交易背后有一种天真的成分：“我们都想相信圣诞老人、牙仙和伯尼·麦道夫。”</blockquote></p><p> <b>HERE’S WHAT’S HAPPENING</b></p><p><blockquote><b>事情是这样的</b></blockquote></p><p> <b>The Fed keeps its policies steady.</b>As expected, the central bankleft interest rates at rock-bottom levels, despite improving economic growth forecasts. But the Upshot’s Neil Irwin notes that it may become harder for Jay Powell, the Fed chair, towave away criticismof those who think monetary policy is too loose.</p><p><blockquote><b>美联储保持政策稳定。</b>正如预期的那样，尽管经济增长预测有所改善，但央行仍将利率维持在最低水平。但Upshot的尼尔·欧文指出，美联储主席杰伊·鲍威尔可能更难驳斥那些认为货币政策过于宽松的人的批评。</blockquote></p><p> <b>The I.R.S. delays the tax filing deadline.</b>Americanshave until May 17 to filetheir federal income taxes, a delay meant to help people cope with the pandemic’s economic upheaval and account for changes from the rescue plan.</p><p><blockquote><b>国税局。推迟报税截止日期。</b>美国人必须在5月17日之前缴纳联邦所得税，这一延迟旨在帮助人们应对疫情带来的经济动荡并解释救援计划的变化。</blockquote></p><p> <b>Credit Suisse overhauls its business after the Greensill scandal.</b>The Swiss bank willseparate its asset-management division, replace its chief and suspend bonuses over the unit’s role in financing Greensill Capital, the supply-chain financing lender that collapsed this month.</p><p><blockquote><b>格林希尔丑闻后，瑞士信贷对其业务进行了彻底改革。</b>这家瑞士银行将拆分其资产管理部门，更换其负责人，并因该部门在为本月倒闭的供应链融资贷款机构Greensill Capital融资中所扮演的角色而暂停发放奖金。</blockquote></p><p> <b>Gasoline may have hit its peak.</b>Global demandmay never return to pre-pandemic levels, the International Energy Agency said, as more electric vehicles hit the roads and transportation habits change. Use may rise for a bit in places like China and India, but overall consumption in industrialized economies will fall by 2023.</p><p><blockquote><b>汽油可能已经达到顶峰。</b>国际能源署表示，随着越来越多的电动汽车上路和交通习惯的改变，全球需求可能永远不会恢复到大流行前的水平。中国和印度等地的使用量可能会略有上升，但到2023年，工业化经济体的总体消费量将会下降。</blockquote></p><p> <b>Senate confirms President Biden’s top trade official.</b>Katherine Tai willbecome the U.S. trade representative. She is a prominent critic of China’s trade practices, signaling that the White House won’t completely walk back the Trump administration’s tough stance. Top U.S. officials are to meet their Chinese counterparts for the first time today,at a summit meeting in Alaska.</p><p><blockquote><b>参议院确认拜登总统的最高贸易官员。</b>凯瑟琳·戴将成为美国贸易代表。她是中国贸易行为的著名批评者，这表明白宫不会完全扭转特朗普政府的强硬立场。美国高级官员将于今天在阿拉斯加举行的峰会上首次会见中国同行。</blockquote></p><p> <b>Google is doubling down on office space</b></p><p><blockquote><b>谷歌正在加倍投资办公空间</b></blockquote></p><p> Google said today that it planned toinvest $7 billion in offices and data centersin 19 U.S. states, making it the latest tech giantto expand its footprintwhile other companies retrench in a commercial real estate market roiled by the pandemic. Google’s C.E.O., Sundar Pichai, shared the plans in a blog post, saying that the move would create 10,000 jobs at the company this year. (Alphabet, Google’s parent company, employed around 135,000 people at the end of 2020.)</p><p><blockquote>谷歌今天表示，计划投资70亿美元在美国19个州建设办公室和数据中心，使其成为最新一家扩大业务规模的科技巨头，而其他公司则在因疫情而动荡的商业房地产市场上紧缩开支。谷歌首席执行官桑达尔·皮帅在一篇博客文章中分享了这些计划，称此举将在今年为公司创造1万个就业岗位。（截至2020年底，谷歌母公司Alphabet拥有约135,000名员工。）</blockquote></p><p> <b>Google is expanding across the country.</b>The plan includes investments in data centers in places like Nebraska, South Carolina and Texas. The company recently opened its first office in Minnesota and an operations center in Mississippi. It will open its first office in Houston this year.</p><p><blockquote><b>谷歌正在全国范围内扩张。</b>该计划包括对内布拉斯加州、南卡罗来纳州和德克萨斯州等地的数据中心进行投资。该公司最近在明尼苏达州开设了第一个办事处，并在密西西比州开设了运营中心。它将于今年在休斯顿开设第一个办事处。</blockquote></p><p> <b>“Coming together in person to collaborate and build community is core to Google’s culture,”</b>Mr. Pichai wrote. Google was one of the first companies to tell employees to work from home, and it expects workers to begin returning to offices in September. When that happens, it will test a “flexible workweek,” with employees spending at least three days a week in the office.</p><p><blockquote><b>“亲自聚集在一起进行协作和建立社区是谷歌文化的核心，”</b>皮查伊先生写道。谷歌是最早告诉员工在家工作的公司之一，预计员工将于9月份开始返回办公室。当这种情况发生时，它将测试“弹性工作周”，员工每周至少在办公室呆三天。</blockquote></p><p></p><p>   <b>“Many have framed the GameStop mania as a David versus Goliath struggle. I believe it is more likely that, when we have full information about this episode, the story will more closely resemble Goliath vs. Goliath.”</b>  <i>— Alexis Goldstein, a senior policy analyst for Americans for Financial Reform, at aCongressional hearingwhich focused on the relationship between brokers like Robinhood and market makers like Citadel Securities.</i>  <b>Charting the blank-check boom</b></p><p><blockquote><b>“许多人将游戏驿站狂热框定为大卫与歌利亚的斗争。我相信，当我们掌握有关这一集的全部信息时，故事更有可能更类似于歌利亚与歌利亚的斗争。”</b><i>——美国金融改革组织高级政策分析师亚历克西斯·戈尔茨坦(Alexis Goldstein)在国会听证会上，该听证会重点讨论了Robinhood等经纪商与Citadel Securities等做市商之间的关系。</i><b>绘制空白支票繁荣图</b></blockquote></p><p> <b>SPACs have already raised more money this year than in all of 2020</b>, setting a record for blank-check deal volume. More than $84 billion has been raised by 264 SPACs to date, according to Dealogic, compared with $83 billion raised by 256 acquisition vehicles last year.</p><p><blockquote><b>SPAC今年筹集的资金已超过2020年全年</b>，创下空白支票交易量纪录。根据Dealogic的数据，迄今为止，264家SPAC已经筹集了超过840亿美元，而去年256家收购工具筹集了830亿美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/ba3fa2a85adf8dd5c4b5da6857556353\" tg-width=\"1240\" tg-height=\"840\"></p><p><blockquote></blockquote></p><p> <b>SPACs sitting on some $135 billion are currently seeking takeover targets</b>, according to SPAC Research. Since they typically buy companies five times their size, that implies buying power of well over $600 billion, setting up a scramble for deals within the two-year window written into the rules of most SPACs.</p><p><blockquote><b>坐拥约1350亿美元的SPAC目前正在寻求收购目标</b>，根据SPAC研究。由于他们通常收购规模是其五倍的公司，这意味着购买力远超6000亿美元，这在大多数SPAC规则中写入的两年窗口内引发了交易争夺战。</blockquote></p><p> <ul>  <li>Lordstown Motors, an electric vehicle company that went public via SPAC last year, said yesterday that it wascooperating with an S.E.C. inquiry, after a short seller accused it of misleading investors about its business prospects.</li> </ul> <b>The S.E.C.’s crypto commissioner</b></p><p><blockquote><ul><li>去年通过SPAC上市的电动汽车公司洛兹敦汽车公司(Lordstown Motors)昨天表示，正在与证券交易委员会合作。在一名卖空者指责该公司在其业务前景方面误导投资者后进行了调查。</li></ul><b>美国证券交易委员会加密货币专员</b></blockquote></p><p> Hester Peirce is one of the few financial regulators with an online fan base and a nickname. Known to some as “Crypto Mom,” she’s been raising the profile of cryptocurrencies and blockchain technology since being appointed an S.E.C. commissioner in 2018. On “Blockchain Policy Matters,” an online show by the Blockchain Association, a trade group, Ms. Peirce described her hopes for innovation and regulation of the crypto world. DealBook got a preview of the show,which posts today.</p><p><blockquote>赫斯特·皮尔斯(Hester Peirce)是少数拥有在线粉丝群和昵称的金融监管者之一。她被一些人称为“加密妈妈”，自从被任命为证券交易委员会成员以来，她一直在提高加密货币和区块链技术的知名度。2018年专员。在贸易组织区块链协会的在线节目“区块链政策问题”中，皮尔斯女士描述了她对加密世界创新和监管的希望。DealBook获得了该节目的预览，并于今天发布。</blockquote></p><p> <b>“Everyone is getting smarter on this stuff,”</b>Ms. Peirce said of regulators considering crypto issues. Engaging more with the private sector “can help us regulators sharpen our thinking,” she said, which could be “more nuanced.”</p><p><blockquote><b>“大家在这方面越来越聪明了。”</b>皮尔斯女士谈到监管机构正在考虑加密货币问题。她说，更多地与私营部门接触“可以帮助我们监管者提高思维”，这可能“更加微妙”。</blockquote></p><p> <b>“We’ve dug ourselves into a little bit of a hole,”</b>Ms. Pierce said of the S.E.C.’s refusal thus far to approve a Bitcoin exchange traded fund. “A lot of people are looking for a way to access the asset class.” In the past month, threebitcoin E.T.F.shave begun trading in Canada.</p><p><blockquote><b>“我们给自己挖了个小坑。”</b>Pierce女士谈到了美国证券交易委员会迄今拒绝批准比特币交易所交易基金的情况。“很多人都在寻找进入该资产类别的方法。”在过去的一个月里，threebitcoin E.T.F.shave开始在加拿大交易。</blockquote></p><p> <b>She welcomes Gary Gensler, the blockchain professor, as the agency’s next chief.</b>President Biden’s pick to lead the S.E.C. has lectured on cryptocurrency and blockchain at M.I.T. since 2018. Ms. Peirce said she was “hopeful” that he will help the agency think “in a more sophisticated way.” She added that Mr. Gensler has “more inclination to regulate” than she does, but that she believes he’ can provide the regulatory clarity on crypto she has sought.</p><p><blockquote><b>她欢迎区块链教授加里·詹斯勒(Gary Gensler)担任该机构的下一任负责人。</b>拜登总统选择领导证券交易委员会。曾在麻省理工学院讲授加密货币和区块链。从2018年开始。皮尔斯女士说，她“希望”他能帮助该机构“以更复杂的方式”思考。她补充说，詹斯勒先生比她“更倾向于监管”，但她相信他“可以提供她所寻求的对加密货币的监管清晰度”。</blockquote></p><p> <b>Blockchain technology could address the issues raised by meme-stock mania.</b>That includes “concerns around settlement times, tracking where shares are, and who owns what shares when,” Ms. Pierce said. Distributed ledger technology like blockchain could eliminate common failure points in the financial system, rather than centralizing them, Ms. Peirce said, adding: “I hope that a lot of that innovation happens in the private sector as opposed to us taking it over as a securities regulator.”</p><p><blockquote><b>区块链技术可以解决模因股票狂热带来的问题。</b>皮尔斯女士说，这包括“对结算时间、跟踪股票位置以及谁在何时拥有什么股票的担忧”。皮尔斯女士表示，区块链等分布式账本技术可以消除金融系统中常见的故障点，而不是集中它们，并补充道：“我希望很多创新发生在私营部门，而不是我们将其作为证券监管机构。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nytimes.com/2021/03/18/business/dealbook/penny-stocks-mania.html\">NewYork Times</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":{},"source_url":"https://www.nytimes.com/2021/03/18/business/dealbook/penny-stocks-mania.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169669203","content_text":"Penny stocks are back. Critics are worried.\n\nPenny stocks are back\nOf all the trading manias in recent months — Bitcoin, SPACs, meme stocks, nonfungible tokens — the latest has a long history of fraud and scandal. That’s right,penny stocksare booming, according to The Times’s Matt Phillips, who visited the “low-rent district of Wall Street.”\nThere were 1.9 trillion transactions last month on the over-the-counter markets,where such stocks trade, according to the industry regulator Finra. That’s up more than 2,000 percent from a year earlier, driven in large part by the surge in retail trading — enabled by commission-free trading from online brokerages — that has also stoked the frenzy for shares in GameStop and other speculative assets.\nPenny stocks have always lent themselves to quick fortunes,given that small inflows to these low-priced, thinly traded shares can make prices go berserk. That also makes them prone to fraud like pump and dumps, updated for the modern age with schemes hatched on social media. “It’s all just a pool filled with sharks,” said Urska Velikonja, a law professor at Georgetown. “It’s where the unwary go to get eaten.”\nPenny-stock frenzies are common in raging bull markets.The current fervor among retail traders presents unnerving echoes from the past, according to Tyler Gellasch of the nonprofit Healthy Markets Association. Based on the scale of the recent mania, “the only relevant historical precedent seems to increasingly be the days before the Great Depression,” he said.\nTake it from Jordan Belfort, of “The Wolf of Wall Street.”“Everyone wants to get rich,” Mr. Belfort, a former “boiler-room” operator who pleaded guilty to market manipulation, told Matt, “and they want to get rich quick.” He added that an element of naïveté underpinned such trading: “We all want to believe in Santa Claus, the Tooth Fairy and Bernie Madoff.”\nHERE’S WHAT’S HAPPENING\nThe Fed keeps its policies steady.As expected, the central bankleft interest rates at rock-bottom levels, despite improving economic growth forecasts. But the Upshot’s Neil Irwin notes that it may become harder for Jay Powell, the Fed chair, towave away criticismof those who think monetary policy is too loose.\nThe I.R.S. delays the tax filing deadline.Americanshave until May 17 to filetheir federal income taxes, a delay meant to help people cope with the pandemic’s economic upheaval and account for changes from the rescue plan.\nCredit Suisse overhauls its business after the Greensill scandal.The Swiss bank willseparate its asset-management division, replace its chief and suspend bonuses over the unit’s role in financing Greensill Capital, the supply-chain financing lender that collapsed this month.\nGasoline may have hit its peak.Global demandmay never return to pre-pandemic levels, the International Energy Agency said, as more electric vehicles hit the roads and transportation habits change. Use may rise for a bit in places like China and India, but overall consumption in industrialized economies will fall by 2023.\nSenate confirms President Biden’s top trade official.Katherine Tai willbecome the U.S. trade representative. She is a prominent critic of China’s trade practices, signaling that the White House won’t completely walk back the Trump administration’s tough stance. Top U.S. officials are to meet their Chinese counterparts for the first time today,at a summit meeting in Alaska.\nGoogle is doubling down on office space\nGoogle said today that it planned toinvest $7 billion in offices and data centersin 19 U.S. states, making it the latest tech giantto expand its footprintwhile other companies retrench in a commercial real estate market roiled by the pandemic. Google’s C.E.O., Sundar Pichai, shared the plans in a blog post, saying that the move would create 10,000 jobs at the company this year. (Alphabet, Google’s parent company, employed around 135,000 people at the end of 2020.)\nGoogle is expanding across the country.The plan includes investments in data centers in places like Nebraska, South Carolina and Texas. The company recently opened its first office in Minnesota and an operations center in Mississippi. It will open its first office in Houston this year.\n“Coming together in person to collaborate and build community is core to Google’s culture,”Mr. Pichai wrote. Google was one of the first companies to tell employees to work from home, and it expects workers to begin returning to offices in September. When that happens, it will test a “flexible workweek,” with employees spending at least three days a week in the office.\n\n“Many have framed the GameStop mania as a David versus Goliath struggle. I believe it is more likely that, when we have full information about this episode, the story will more closely resemble Goliath vs. Goliath.”\n— Alexis Goldstein, a senior policy analyst for Americans for Financial Reform, at aCongressional hearingwhich focused on the relationship between brokers like Robinhood and market makers like Citadel Securities.\n\nCharting the blank-check boom\nSPACs have already raised more money this year than in all of 2020, setting a record for blank-check deal volume. More than $84 billion has been raised by 264 SPACs to date, according to Dealogic, compared with $83 billion raised by 256 acquisition vehicles last year.\n\nSPACs sitting on some $135 billion are currently seeking takeover targets, according to SPAC Research. Since they typically buy companies five times their size, that implies buying power of well over $600 billion, setting up a scramble for deals within the two-year window written into the rules of most SPACs.\n\nLordstown Motors, an electric vehicle company that went public via SPAC last year, said yesterday that it wascooperating with an S.E.C. inquiry, after a short seller accused it of misleading investors about its business prospects.\n\nThe S.E.C.’s crypto commissioner\nHester Peirce is one of the few financial regulators with an online fan base and a nickname. Known to some as “Crypto Mom,” she’s been raising the profile of cryptocurrencies and blockchain technology since being appointed an S.E.C. commissioner in 2018. On “Blockchain Policy Matters,” an online show by the Blockchain Association, a trade group, Ms. Peirce described her hopes for innovation and regulation of the crypto world. DealBook got a preview of the show,which posts today.\n“Everyone is getting smarter on this stuff,”Ms. Peirce said of regulators considering crypto issues. Engaging more with the private sector “can help us regulators sharpen our thinking,” she said, which could be “more nuanced.”\n“We’ve dug ourselves into a little bit of a hole,”Ms. Pierce said of the S.E.C.’s refusal thus far to approve a Bitcoin exchange traded fund. “A lot of people are looking for a way to access the asset class.” In the past month, threebitcoin E.T.F.shave begun trading in Canada.\nShe welcomes Gary Gensler, the blockchain professor, as the agency’s next chief.President Biden’s pick to lead the S.E.C. has lectured on cryptocurrency and blockchain at M.I.T. since 2018. Ms. Peirce said she was “hopeful” that he will help the agency think “in a more sophisticated way.” She added that Mr. Gensler has “more inclination to regulate” than she does, but that she believes he’ can provide the regulatory clarity on crypto she has sought.\nBlockchain technology could address the issues raised by meme-stock mania.That includes “concerns around settlement times, tracking where shares are, and who owns what shares when,” Ms. Pierce said. Distributed ledger technology like blockchain could eliminate common failure points in the financial system, rather than centralizing them, Ms. Peirce said, adding: “I hope that a lot of that innovation happens in the private sector as opposed to us taking it over as a securities regulator.”","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":884,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327180709,"gmtCreate":1616069722701,"gmtModify":1634527405375,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Help the carrots are chasing me&nbsp;","listText":"Help the carrots are chasing me&nbsp;","text":"Help the carrots are chasing me","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/327180709","repostId":"1187454041","repostType":4,"isVote":1,"tweetType":1,"viewCount":885,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324351714,"gmtCreate":1615968201738,"gmtModify":1703495639114,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Like me pls","listText":"Like me pls","text":"Like me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324351714","repostId":"1137083859","repostType":4,"isVote":1,"tweetType":1,"viewCount":825,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322645829,"gmtCreate":1615806146861,"gmtModify":1703493243647,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me pls oink","listText":"Comment me pls oink","text":"Comment me pls oink","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/322645829","repostId":"1159332291","repostType":4,"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322642323,"gmtCreate":1615806089362,"gmtModify":1703493242265,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Mayo in coffee. Yum.&nbsp;","listText":"Mayo in coffee. Yum.&nbsp;","text":"Mayo in coffee. Yum.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/322642323","repostId":"1164885443","repostType":4,"repost":{"id":"1164885443","kind":"news","pubTimestamp":1615805768,"share":"https://www.laohu8.com/m/news/1164885443?lang=zh_CN&edition=full","pubTime":"2021-03-15 18:56","market":"us","language":"en","title":"10 Stocks That Are Vulnerable to a Blowup<blockquote>10只容易爆发的股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1164885443","media":"Barrons","summary":"Avoiding stock blowups is in every investor’s interest, but it’s getting a bit tougher.Many companie","content":"<p>Avoiding stock blowups is in every investor’s interest, but it’s getting a bit tougher.</p><p><blockquote>避免股票暴跌符合每个投资者的利益，但这变得有点困难。</blockquote></p><p>Many companies that beat fourth-quarter estimates haven’t been rewarded with higher share prices. High-growth stocks are facing steeper hurdles from rising bond yields. Investors appear to be rotating from growth to value and into sectors with more exposure to a cyclical economic recovery.</p><p><blockquote>许多超出第四季度预期的公司并没有获得更高的股价。高增长股票正面临债券收益率上升带来的更大障碍。投资者似乎正在从增长转向价值，并进入更容易受到周期性经济复苏影响的行业。</blockquote></p><p>Quite simply, fatigue may be setting into overcrowded trades and investment themes—whether those are alternative-meat producers, a travel recovery, green energy, or the continued domination of Big Tech.</p><p><blockquote>很简单，过度拥挤的交易和投资主题可能会出现疲劳——无论是替代肉类生产商、旅游业复苏、绿色能源还是大型科技公司的持续主导地位。</blockquote></p><p>Against that backdrop, investors may want to tread cautiously. One way to do so: Avoid stocks with low earnings quality and high short interest—meaning there are short positions, or bearish bets, on a large percentage of a company’s shares outstanding. (A short position is when investors borrow and then sell shares, betting that a stock’s price will fall so they can buy shares back at a cheaper price.) Stocks with that combination of attributes may be most at risk of underperforming or blowing up, according to Wolfe Research.</p><p><blockquote>在此背景下，投资者可能需要谨慎行事。一种方法是：避开盈利质量低、空头利息高的股票——这意味着公司大部分已发行股票存在空头头寸或看跌押注。（空头头寸是指投资者借入然后出售股票，押注股票价格会下跌，以便他们可以以更便宜的价格回购股票。）根据沃尔夫研究公司的说法，具有这种属性组合的股票可能最容易表现不佳或爆炸。</blockquote></p><p>The firm ranks stocks on a relative basis within sectors by scoring earnings quality on seven financial measures, while also looking at valuation and sentiment indicators, based on fourth-quarter financials.</p><p><blockquote>该公司通过根据七项财务指标对盈利质量进行评分，同时还根据第四季度财务数据查看估值和情绪指标，对行业内的股票进行相对排名。</blockquote></p><p>Wolfe calls stocks scoring in the bottom 10% of earnings quality, while also seeing high short interest, “our highest conviction cohort of stocks to avoid.”</p><p><blockquote>沃尔夫·评级股票的盈利质量排名垫底10%，同时也看到了很高的空头兴趣，“我们最有信心避免的股票群体”。</blockquote></p><p>One caveat: Low-quality stocks have been a popular trade—fueled by ample market liquidity and demand for riskier assets. High short interest also primes a stock for a short-squeeze, whereby traders who are short buy the stock to cover their positions, exerting upward pressure on the price. Nothing illustrates that dynamic more than the frenzied trading around GameStop (ticker: GME) this year.</p><p><blockquote>需要注意的是：在充足的市场流动性和对风险资产的需求的推动下，低质量股票一直是一种受欢迎的交易。高空头利息也为股票轧空做好了准备，空头交易者买入股票以回补头寸，对价格施加上行压力。没有什么比今年围绕游戏驿站（股票代码：GME）的疯狂交易更能说明这种动态了。</blockquote></p><p>Beauty products maker Coty (COTY), for example, shows up on Wolfe’s screen. But it may have already had its blowup, falling 15% the day it released its earnings report in February. Barron’s was bullish on the stock in the aftermath, and it has been moving up since then.</p><p><blockquote>例如，美容产品制造商科蒂(COTY)就出现在沃尔夫的屏幕上。但它可能已经爆发了，在2月份发布收益报告的当天下跌了15%。《巴伦周刊》随后看好该股，此后该股一直在上涨。</blockquote></p><p>Nonetheless, plenty of other stocks on Wolfe’s watch list do seem vulnerable. Many have surged in a reopening trade or company-specific dynamics, and all trade at steep valuations. Here are 10 stocks from Wolfe’s list:</p><p><blockquote>尽管如此，沃尔夫观察名单上的许多其他股票似乎确实很脆弱。许多公司在重新开放交易或公司特定动态中股价飙升，而且所有交易的估值都很高。以下是沃尔夫名单中的10只股票：</blockquote></p><p>Carvana (CVNA), for instance, has been a blockbuster, gaining 535% over the last 52 weeks. Investors appear to have decided that it is a disruptive force in car buying and that a pandemic-fueled shift to online sales has accelerated its momentum. However, Carvana isn’t close to reporting a profit, and is expected to lose $1.96 a share this year and 97 cents in 2022.</p><p><blockquote>例如，Carvana(CVNA)一鸣惊人，在过去52周内上涨了535%。投资者似乎已经认定，这是汽车购买领域的一股颠覆性力量，而大流行推动的向在线销售的转变加速了其势头。然而，Carvana尚未实现盈利，预计今年每股亏损1.96美元，2022年每股亏损97美分。</blockquote></p><p>The stock is up around 11% this year, but it has been wobbling lately and is down from its 52-week high around $315, trading recently at $287. Short interest is high at 22% of the shares outstanding, according to FactSet.</p><p><blockquote>该股今年上涨了约11%，但最近一直在波动，从315美元左右的52周高点下跌，最近的交易价格为287美元。FactSet的数据显示，空头兴趣很高，占已发行股票的22%。</blockquote></p><p>Expedia Group (EXPE) has surged 32% this year. Investors expect online bookings volume to soar as consumers head for vacations this summer and fall. Wall Street doesn’t see Expedia Group earning a profit this year but expects big gains in 2022 with earnings per share of $6.04. At recent prices around $175, shares trade at 28 times 2022 earnings, a 40% premium to the S&amp;P 500 ‘s multiple of 20 times.</p><p><blockquote>Expedia Group(EXPE)今年股价飙升32%。投资者预计，随着消费者今年夏季和秋季前往度假，在线预订量将飙升。华尔街预计Expedia Group今年不会盈利，但预计2022年将大幅上涨，每股收益为6.04美元。以近期175美元左右的价格计算，该股的市盈率为2022年市盈率的28倍，比标普500的20倍溢价40%。</blockquote></p><p>Norwegian Cruise Line Holdings (NCLH) is also trading on hopes for a travel rebound in 2022. Wall Street expects revenues of $1.6 billion this year, up from $1.3 billion in 2020. But the stock is riding on expectations of a surge to $6 billion in revenue in 2022. Analysts are looking for earnings of 62 cents a share in 2022, up from an expected loss of $5.87 a share this year. The stock has climbed 218% in the last 52 weeks, and it is powering ahead this year, up 21% so far.</p><p><blockquote>挪威邮轮控股公司(NCLH)也寄希望于2022年旅游业反弹。华尔街预计今年营收为16亿美元，高于2020年的13亿美元。但该股预计2022年收入将飙升至60亿美元。分析师预计2022年每股收益为62美分，高于今年每股亏损5.87美元的预期。该股在过去52周内上涨了218%，今年也在强劲上涨，迄今为止上涨了21%。</blockquote></p><p>It’s hardly cheap, though, at 50 times estimated 2022 profits. About 13% of the shares are held short, according to FactSet.</p><p><blockquote>不过，这并不便宜，是2022年预计利润的50倍。FactSet的数据显示，约13%的股票被卖空。</blockquote></p><p>Lyft (LYFT) also fits into the reopening theme; shares are up 178% in the last 52 weeks, including a 35% gain this year. Ride-sharing could pick up as more people head to work, meetings, and evenings out.</p><p><blockquote>Lyft（Lyft）也符合重新开放的主题；过去52周内股价上涨了178%，其中今年上涨了35%。随着越来越多的人去上班、开会和晚上外出，拼车可能会增加。</blockquote></p><p>However, Lyft and its chief rival Uber Technologies (UBER) face rising labor costs and regulatory hurdles in Europe and other regions. Wall Street sees Lyft losing $1.08 a share this year and turning a modest profit of 17 cents in 2022. That gives it a multiple of 379 times 2022 earnings. Short interest is around 9%.</p><p><blockquote>然而，Lyft及其主要竞争对手优步科技（UBER）在欧洲和其他地区面临劳动力成本上升和监管障碍。华尔街预计Lyft今年每股亏损1.08美元，2022年将实现17美分的微利。这使得其2022年市盈率为379倍。空头利息在9%左右。</blockquote></p><p>Restoration Hardware parent Restoration Hardware (RH) has been a stay-at-home winner. The stock soared 338% over the last year and it’s ahead 5% this year. The company is profitable, expected to earn $19.17 a share this year, up from an estimated $17.05 in 2020. But the stock hit a rough patch in early March as high-growth, high-multiple stocks sold off.</p><p><blockquote>恢复硬件parent Restoration Hardware(RH)一直是家庭赢家。该股去年飙升338%，今年上涨5%。该公司实现盈利，预计今年每股收益为19.17美元，高于2020年预计的17.05美元。但随着高增长、高市盈率股票遭到抛售，该股在3月初遭遇了艰难时期。</blockquote></p><p></p><p>RH trades at 22 times 2022 earnings, which doesn’t look excessive. But It is now vulnerable to a blowup, according to Wolfe, with short-interest at 11% of the float.</p><p><blockquote>RH的市盈率为2022年市盈率的22倍，这看起来并不过分。但沃尔夫表示，该公司现在很容易爆发，空头利息占流通量的11%。</blockquote></p><p>Beyond Meat (BYND) has long been a battleground between alt-meat bulls and bears. The stock has surged 93% over the last 52 weeks, defying the bears, but at recent prices around $142, it’s off 36% from its 52-week high of $221.</p><p><blockquote>Beyond Meat（BYND）长期以来一直是另类肉类多头和空头之间的战场。该股在过去52周内飙升了93%，无视空头，但近期价格约为142美元，较52周高点221美元下跌了36%。</blockquote></p><p>The alt-meat trend is going strong, and Beyond is working its way into more restaurants and supermarkets, while expanding its product line. But alt-meat rivals are gaining traction. Beyond’s profits aren’t expected to roll in until 2022, when the firm is anticipated to earn 23 cents a share. At that level of profit, the stock trades at 621 times earnings.</p><p><blockquote>替代肉类趋势正在强劲发展，Beyond正在进军更多餐厅和超市，同时扩大其产品线。但替代肉类竞争对手正在获得牵引力。Beyond的利润预计要到2022年才会滚滚而来，届时该公司预计每股盈利23美分。在该利润水平下，该股的市盈率为621倍。</blockquote></p><p>Stocks like Beyond trade on underlying business momentum, making earnings less of a share-price driver. Still, it isn’t encouraging that Wall Street sees the losses piling up. Per-share estimates for 2021 have been lowered 12% in the last week, according to FactSet, and 2021 estimates are down 190% in the past three months.</p><p><blockquote>像Beyond这样的股票根据潜在的业务势头进行交易，使得盈利不再是股价的驱动因素。尽管如此，华尔街看到损失不断增加，这并不令人鼓舞。FactSet的数据显示，上周对2021年的每股预期下调了12%，过去三个月对2021年的预期下降了190%。</blockquote></p><p>Meanwhile, First Solar (FSLR) is riding a wave of investor demand for green stocks from ESG funds and others looking for exposure to clean energy. The company, which makes solar power systems and modules, has gained 124% over the last 52 weeks. The company has reported strong sales and bookings, but the stock is also baking in friendly climate policies from the Biden administration.</p><p><blockquote>与此同时，First Solar(FSLR)正顺应投资者对ESG基金和其他寻求清洁能源投资的机构的绿色股票的需求浪潮。该公司生产太阳能系统和组件，在过去52周内股价上涨了124%。该公司报告了强劲的销售和预订量，但该股也受到拜登政府友好气候政策的影响。</blockquote></p><p>The stock has been wavering, however, after its big run. It has slumped 17% this year and it’s off more than 20% from 52-week highs around $112, recently trading around $82. Despite a favorable backdrop for green energy, First Solar’s sales and earnings are expected to fall slightly from 2021 to 2022. The stock trades at 24 times 2022 earnings, a premium to the market.</p><p><blockquote>然而，该股在大幅上涨后一直在波动。该股今年已下跌17%，较112美元左右的52周高点下跌超过20%，最近交易价格约为82美元。尽管绿色能源大背景有利，但First Solar的销售额和盈利预计将在2021年至2022年小幅下降。该股2022年市盈率为24倍，较市场溢价。</blockquote></p><p>Other large-cap stocks that make Wolfe’s blowup watch list include BioMarin Pharmaceutical (BMRN), Zendesk (ZEN), and Advanced Micro Devices (AMD). Zendesk and AMD are each up more than 100% over the last year, while BioMarin has been flat. All trade at steep valuations, with Zendesk topping the list at 130 times 2022 earnings estimates.</p><p><blockquote>其他列入沃尔夫爆炸观察名单的大盘股包括拜玛林制药(BMRN)、Zendesk(ZEN)和Advanced Micro Devices(AMD)。Zendesk和AMD去年均上涨超过100%，而BioMarin则持平。所有公司的估值都很高，其中Zendesk以2022年盈利预期的130倍位居榜首。</blockquote></p><p>A blowup may not be imminent in any of these names, but stocks without a significant profit in sight may fall sharply if market jitters resurface and investors start to appreciate higher earnings quality.</p><p><blockquote>这些股票中的任何一只都可能不会很快出现泡沫，但如果市场紧张情绪重新出现并且投资者开始欣赏更高的盈利质量，看不到显着利润的股票可能会大幅下跌。</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>10 Stocks That Are Vulnerable to a Blowup<blockquote>10只容易爆发的股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n10 Stocks That Are Vulnerable to a Blowup<blockquote>10只容易爆发的股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-03-15 18:56</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Avoiding stock blowups is in every investor’s interest, but it’s getting a bit tougher.</p><p><blockquote>避免股票暴跌符合每个投资者的利益，但这变得有点困难。</blockquote></p><p>Many companies that beat fourth-quarter estimates haven’t been rewarded with higher share prices. High-growth stocks are facing steeper hurdles from rising bond yields. Investors appear to be rotating from growth to value and into sectors with more exposure to a cyclical economic recovery.</p><p><blockquote>许多超出第四季度预期的公司并没有获得更高的股价。高增长股票正面临债券收益率上升带来的更大障碍。投资者似乎正在从增长转向价值，并进入更容易受到周期性经济复苏影响的行业。</blockquote></p><p>Quite simply, fatigue may be setting into overcrowded trades and investment themes—whether those are alternative-meat producers, a travel recovery, green energy, or the continued domination of Big Tech.</p><p><blockquote>很简单，过度拥挤的交易和投资主题可能会出现疲劳——无论是替代肉类生产商、旅游业复苏、绿色能源还是大型科技公司的持续主导地位。</blockquote></p><p>Against that backdrop, investors may want to tread cautiously. One way to do so: Avoid stocks with low earnings quality and high short interest—meaning there are short positions, or bearish bets, on a large percentage of a company’s shares outstanding. (A short position is when investors borrow and then sell shares, betting that a stock’s price will fall so they can buy shares back at a cheaper price.) Stocks with that combination of attributes may be most at risk of underperforming or blowing up, according to Wolfe Research.</p><p><blockquote>在此背景下，投资者可能需要谨慎行事。一种方法是：避开盈利质量低、空头利息高的股票——这意味着公司大部分已发行股票存在空头头寸或看跌押注。（空头头寸是指投资者借入然后出售股票，押注股票价格会下跌，以便他们可以以更便宜的价格回购股票。）根据沃尔夫研究公司的说法，具有这种属性组合的股票可能最容易表现不佳或爆炸。</blockquote></p><p>The firm ranks stocks on a relative basis within sectors by scoring earnings quality on seven financial measures, while also looking at valuation and sentiment indicators, based on fourth-quarter financials.</p><p><blockquote>该公司通过根据七项财务指标对盈利质量进行评分，同时还根据第四季度财务数据查看估值和情绪指标，对行业内的股票进行相对排名。</blockquote></p><p>Wolfe calls stocks scoring in the bottom 10% of earnings quality, while also seeing high short interest, “our highest conviction cohort of stocks to avoid.”</p><p><blockquote>沃尔夫·评级股票的盈利质量排名垫底10%，同时也看到了很高的空头兴趣，“我们最有信心避免的股票群体”。</blockquote></p><p>One caveat: Low-quality stocks have been a popular trade—fueled by ample market liquidity and demand for riskier assets. High short interest also primes a stock for a short-squeeze, whereby traders who are short buy the stock to cover their positions, exerting upward pressure on the price. Nothing illustrates that dynamic more than the frenzied trading around GameStop (ticker: GME) this year.</p><p><blockquote>需要注意的是：在充足的市场流动性和对风险资产的需求的推动下，低质量股票一直是一种受欢迎的交易。高空头利息也为股票轧空做好了准备，空头交易者买入股票以回补头寸，对价格施加上行压力。没有什么比今年围绕游戏驿站（股票代码：GME）的疯狂交易更能说明这种动态了。</blockquote></p><p>Beauty products maker Coty (COTY), for example, shows up on Wolfe’s screen. But it may have already had its blowup, falling 15% the day it released its earnings report in February. Barron’s was bullish on the stock in the aftermath, and it has been moving up since then.</p><p><blockquote>例如，美容产品制造商科蒂(COTY)就出现在沃尔夫的屏幕上。但它可能已经爆发了，在2月份发布收益报告的当天下跌了15%。《巴伦周刊》随后看好该股，此后该股一直在上涨。</blockquote></p><p>Nonetheless, plenty of other stocks on Wolfe’s watch list do seem vulnerable. Many have surged in a reopening trade or company-specific dynamics, and all trade at steep valuations. Here are 10 stocks from Wolfe’s list:</p><p><blockquote>尽管如此，沃尔夫观察名单上的许多其他股票似乎确实很脆弱。许多公司在重新开放交易或公司特定动态中股价飙升，而且所有交易的估值都很高。以下是沃尔夫名单中的10只股票：</blockquote></p><p>Carvana (CVNA), for instance, has been a blockbuster, gaining 535% over the last 52 weeks. Investors appear to have decided that it is a disruptive force in car buying and that a pandemic-fueled shift to online sales has accelerated its momentum. However, Carvana isn’t close to reporting a profit, and is expected to lose $1.96 a share this year and 97 cents in 2022.</p><p><blockquote>例如，Carvana(CVNA)一鸣惊人，在过去52周内上涨了535%。投资者似乎已经认定，这是汽车购买领域的一股颠覆性力量，而大流行推动的向在线销售的转变加速了其势头。然而，Carvana尚未实现盈利，预计今年每股亏损1.96美元，2022年每股亏损97美分。</blockquote></p><p>The stock is up around 11% this year, but it has been wobbling lately and is down from its 52-week high around $315, trading recently at $287. Short interest is high at 22% of the shares outstanding, according to FactSet.</p><p><blockquote>该股今年上涨了约11%，但最近一直在波动，从315美元左右的52周高点下跌，最近的交易价格为287美元。FactSet的数据显示，空头兴趣很高，占已发行股票的22%。</blockquote></p><p>Expedia Group (EXPE) has surged 32% this year. Investors expect online bookings volume to soar as consumers head for vacations this summer and fall. Wall Street doesn’t see Expedia Group earning a profit this year but expects big gains in 2022 with earnings per share of $6.04. At recent prices around $175, shares trade at 28 times 2022 earnings, a 40% premium to the S&amp;P 500 ‘s multiple of 20 times.</p><p><blockquote>Expedia Group(EXPE)今年股价飙升32%。投资者预计，随着消费者今年夏季和秋季前往度假，在线预订量将飙升。华尔街预计Expedia Group今年不会盈利，但预计2022年将大幅上涨，每股收益为6.04美元。以近期175美元左右的价格计算，该股的市盈率为2022年市盈率的28倍，比标普500的20倍溢价40%。</blockquote></p><p>Norwegian Cruise Line Holdings (NCLH) is also trading on hopes for a travel rebound in 2022. Wall Street expects revenues of $1.6 billion this year, up from $1.3 billion in 2020. But the stock is riding on expectations of a surge to $6 billion in revenue in 2022. Analysts are looking for earnings of 62 cents a share in 2022, up from an expected loss of $5.87 a share this year. The stock has climbed 218% in the last 52 weeks, and it is powering ahead this year, up 21% so far.</p><p><blockquote>挪威邮轮控股公司(NCLH)也寄希望于2022年旅游业反弹。华尔街预计今年营收为16亿美元，高于2020年的13亿美元。但该股预计2022年收入将飙升至60亿美元。分析师预计2022年每股收益为62美分，高于今年每股亏损5.87美元的预期。该股在过去52周内上涨了218%，今年也在强劲上涨，迄今为止上涨了21%。</blockquote></p><p>It’s hardly cheap, though, at 50 times estimated 2022 profits. About 13% of the shares are held short, according to FactSet.</p><p><blockquote>不过，这并不便宜，是2022年预计利润的50倍。FactSet的数据显示，约13%的股票被卖空。</blockquote></p><p>Lyft (LYFT) also fits into the reopening theme; shares are up 178% in the last 52 weeks, including a 35% gain this year. Ride-sharing could pick up as more people head to work, meetings, and evenings out.</p><p><blockquote>Lyft（Lyft）也符合重新开放的主题；过去52周内股价上涨了178%，其中今年上涨了35%。随着越来越多的人去上班、开会和晚上外出，拼车可能会增加。</blockquote></p><p>However, Lyft and its chief rival Uber Technologies (UBER) face rising labor costs and regulatory hurdles in Europe and other regions. Wall Street sees Lyft losing $1.08 a share this year and turning a modest profit of 17 cents in 2022. That gives it a multiple of 379 times 2022 earnings. Short interest is around 9%.</p><p><blockquote>然而，Lyft及其主要竞争对手优步科技（UBER）在欧洲和其他地区面临劳动力成本上升和监管障碍。华尔街预计Lyft今年每股亏损1.08美元，2022年将实现17美分的微利。这使得其2022年市盈率为379倍。空头利息在9%左右。</blockquote></p><p>Restoration Hardware parent Restoration Hardware (RH) has been a stay-at-home winner. The stock soared 338% over the last year and it’s ahead 5% this year. The company is profitable, expected to earn $19.17 a share this year, up from an estimated $17.05 in 2020. But the stock hit a rough patch in early March as high-growth, high-multiple stocks sold off.</p><p><blockquote>恢复硬件parent Restoration Hardware(RH)一直是家庭赢家。该股去年飙升338%，今年上涨5%。该公司实现盈利，预计今年每股收益为19.17美元，高于2020年预计的17.05美元。但随着高增长、高市盈率股票遭到抛售，该股在3月初遭遇了艰难时期。</blockquote></p><p></p><p>RH trades at 22 times 2022 earnings, which doesn’t look excessive. But It is now vulnerable to a blowup, according to Wolfe, with short-interest at 11% of the float.</p><p><blockquote>RH的市盈率为2022年市盈率的22倍，这看起来并不过分。但沃尔夫表示，该公司现在很容易爆发，空头利息占流通量的11%。</blockquote></p><p>Beyond Meat (BYND) has long been a battleground between alt-meat bulls and bears. The stock has surged 93% over the last 52 weeks, defying the bears, but at recent prices around $142, it’s off 36% from its 52-week high of $221.</p><p><blockquote>Beyond Meat（BYND）长期以来一直是另类肉类多头和空头之间的战场。该股在过去52周内飙升了93%，无视空头，但近期价格约为142美元，较52周高点221美元下跌了36%。</blockquote></p><p>The alt-meat trend is going strong, and Beyond is working its way into more restaurants and supermarkets, while expanding its product line. But alt-meat rivals are gaining traction. Beyond’s profits aren’t expected to roll in until 2022, when the firm is anticipated to earn 23 cents a share. At that level of profit, the stock trades at 621 times earnings.</p><p><blockquote>替代肉类趋势正在强劲发展，Beyond正在进军更多餐厅和超市，同时扩大其产品线。但替代肉类竞争对手正在获得牵引力。Beyond的利润预计要到2022年才会滚滚而来，届时该公司预计每股盈利23美分。在该利润水平下，该股的市盈率为621倍。</blockquote></p><p>Stocks like Beyond trade on underlying business momentum, making earnings less of a share-price driver. Still, it isn’t encouraging that Wall Street sees the losses piling up. Per-share estimates for 2021 have been lowered 12% in the last week, according to FactSet, and 2021 estimates are down 190% in the past three months.</p><p><blockquote>像Beyond这样的股票根据潜在的业务势头进行交易，使得盈利不再是股价的驱动因素。尽管如此，华尔街看到损失不断增加，这并不令人鼓舞。FactSet的数据显示，上周对2021年的每股预期下调了12%，过去三个月对2021年的预期下降了190%。</blockquote></p><p>Meanwhile, First Solar (FSLR) is riding a wave of investor demand for green stocks from ESG funds and others looking for exposure to clean energy. The company, which makes solar power systems and modules, has gained 124% over the last 52 weeks. The company has reported strong sales and bookings, but the stock is also baking in friendly climate policies from the Biden administration.</p><p><blockquote>与此同时，First Solar(FSLR)正顺应投资者对ESG基金和其他寻求清洁能源投资的机构的绿色股票的需求浪潮。该公司生产太阳能系统和组件，在过去52周内股价上涨了124%。该公司报告了强劲的销售和预订量，但该股也受到拜登政府友好气候政策的影响。</blockquote></p><p>The stock has been wavering, however, after its big run. It has slumped 17% this year and it’s off more than 20% from 52-week highs around $112, recently trading around $82. Despite a favorable backdrop for green energy, First Solar’s sales and earnings are expected to fall slightly from 2021 to 2022. The stock trades at 24 times 2022 earnings, a premium to the market.</p><p><blockquote>然而，该股在大幅上涨后一直在波动。该股今年已下跌17%，较112美元左右的52周高点下跌超过20%，最近交易价格约为82美元。尽管绿色能源大背景有利，但First Solar的销售额和盈利预计将在2021年至2022年小幅下降。该股2022年市盈率为24倍，较市场溢价。</blockquote></p><p>Other large-cap stocks that make Wolfe’s blowup watch list include BioMarin Pharmaceutical (BMRN), Zendesk (ZEN), and Advanced Micro Devices (AMD). Zendesk and AMD are each up more than 100% over the last year, while BioMarin has been flat. All trade at steep valuations, with Zendesk topping the list at 130 times 2022 earnings estimates.</p><p><blockquote>其他列入沃尔夫爆炸观察名单的大盘股包括拜玛林制药(BMRN)、Zendesk(ZEN)和Advanced Micro Devices(AMD)。Zendesk和AMD去年均上涨超过100%，而BioMarin则持平。所有公司的估值都很高，其中Zendesk以2022年盈利预期的130倍位居榜首。</blockquote></p><p>A blowup may not be imminent in any of these names, but stocks without a significant profit in sight may fall sharply if market jitters resurface and investors start to appreciate higher earnings quality.</p><p><blockquote>这些股票中的任何一只都可能不会很快出现泡沫，但如果市场紧张情绪重新出现并且投资者开始欣赏更高的盈利质量，看不到显着利润的股票可能会大幅下跌。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/beyond-meat-stock-expedia-lyft-vulnerable-blowup-51615588807?mod=hp_LATEST\">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":{"RH":"RH","NCLH":"挪威邮轮","EXPE":"Expedia","BYND":"Beyond Meat, Inc.","COTY":"科蒂","CVNA":"Carvana Co.","AMD":"美国超微公司","BMRN":"拜玛林制药","FSLR":"第一太阳能","LYFT":"Lyft, Inc."},"source_url":"https://www.barrons.com/articles/beyond-meat-stock-expedia-lyft-vulnerable-blowup-51615588807?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164885443","content_text":"Avoiding stock blowups is in every investor’s interest, but it’s getting a bit tougher.Many companies that beat fourth-quarter estimates haven’t been rewarded with higher share prices. High-growth stocks are facing steeper hurdles from rising bond yields. Investors appear to be rotating from growth to value and into sectors with more exposure to a cyclical economic recovery.Quite simply, fatigue may be setting into overcrowded trades and investment themes—whether those are alternative-meat producers, a travel recovery, green energy, or the continued domination of Big Tech.Against that backdrop, investors may want to tread cautiously. One way to do so: Avoid stocks with low earnings quality and high short interest—meaning there are short positions, or bearish bets, on a large percentage of a company’s shares outstanding. (A short position is when investors borrow and then sell shares, betting that a stock’s price will fall so they can buy shares back at a cheaper price.) Stocks with that combination of attributes may be most at risk of underperforming or blowing up, according to Wolfe Research.The firm ranks stocks on a relative basis within sectors by scoring earnings quality on seven financial measures, while also looking at valuation and sentiment indicators, based on fourth-quarter financials.Wolfe calls stocks scoring in the bottom 10% of earnings quality, while also seeing high short interest, “our highest conviction cohort of stocks to avoid.”One caveat: Low-quality stocks have been a popular trade—fueled by ample market liquidity and demand for riskier assets. High short interest also primes a stock for a short-squeeze, whereby traders who are short buy the stock to cover their positions, exerting upward pressure on the price. Nothing illustrates that dynamic more than the frenzied trading around GameStop (ticker: GME) this year.Beauty products maker Coty (COTY), for example, shows up on Wolfe’s screen. But it may have already had its blowup, falling 15% the day it released its earnings report in February. Barron’s was bullish on the stock in the aftermath, and it has been moving up since then.Nonetheless, plenty of other stocks on Wolfe’s watch list do seem vulnerable. Many have surged in a reopening trade or company-specific dynamics, and all trade at steep valuations. Here are 10 stocks from Wolfe’s list:Carvana (CVNA), for instance, has been a blockbuster, gaining 535% over the last 52 weeks. Investors appear to have decided that it is a disruptive force in car buying and that a pandemic-fueled shift to online sales has accelerated its momentum. However, Carvana isn’t close to reporting a profit, and is expected to lose $1.96 a share this year and 97 cents in 2022.The stock is up around 11% this year, but it has been wobbling lately and is down from its 52-week high around $315, trading recently at $287. Short interest is high at 22% of the shares outstanding, according to FactSet.Expedia Group (EXPE) has surged 32% this year. Investors expect online bookings volume to soar as consumers head for vacations this summer and fall. Wall Street doesn’t see Expedia Group earning a profit this year but expects big gains in 2022 with earnings per share of $6.04. At recent prices around $175, shares trade at 28 times 2022 earnings, a 40% premium to the S&P 500 ‘s multiple of 20 times.Norwegian Cruise Line Holdings (NCLH) is also trading on hopes for a travel rebound in 2022. Wall Street expects revenues of $1.6 billion this year, up from $1.3 billion in 2020. But the stock is riding on expectations of a surge to $6 billion in revenue in 2022. Analysts are looking for earnings of 62 cents a share in 2022, up from an expected loss of $5.87 a share this year. The stock has climbed 218% in the last 52 weeks, and it is powering ahead this year, up 21% so far.It’s hardly cheap, though, at 50 times estimated 2022 profits. About 13% of the shares are held short, according to FactSet.Lyft (LYFT) also fits into the reopening theme; shares are up 178% in the last 52 weeks, including a 35% gain this year. Ride-sharing could pick up as more people head to work, meetings, and evenings out.However, Lyft and its chief rival Uber Technologies (UBER) face rising labor costs and regulatory hurdles in Europe and other regions. Wall Street sees Lyft losing $1.08 a share this year and turning a modest profit of 17 cents in 2022. That gives it a multiple of 379 times 2022 earnings. Short interest is around 9%.Restoration Hardware parent Restoration Hardware (RH) has been a stay-at-home winner. The stock soared 338% over the last year and it’s ahead 5% this year. The company is profitable, expected to earn $19.17 a share this year, up from an estimated $17.05 in 2020. But the stock hit a rough patch in early March as high-growth, high-multiple stocks sold off.RH trades at 22 times 2022 earnings, which doesn’t look excessive. But It is now vulnerable to a blowup, according to Wolfe, with short-interest at 11% of the float.Beyond Meat (BYND) has long been a battleground between alt-meat bulls and bears. The stock has surged 93% over the last 52 weeks, defying the bears, but at recent prices around $142, it’s off 36% from its 52-week high of $221.The alt-meat trend is going strong, and Beyond is working its way into more restaurants and supermarkets, while expanding its product line. But alt-meat rivals are gaining traction. Beyond’s profits aren’t expected to roll in until 2022, when the firm is anticipated to earn 23 cents a share. At that level of profit, the stock trades at 621 times earnings.Stocks like Beyond trade on underlying business momentum, making earnings less of a share-price driver. Still, it isn’t encouraging that Wall Street sees the losses piling up. Per-share estimates for 2021 have been lowered 12% in the last week, according to FactSet, and 2021 estimates are down 190% in the past three months.Meanwhile, First Solar (FSLR) is riding a wave of investor demand for green stocks from ESG funds and others looking for exposure to clean energy. The company, which makes solar power systems and modules, has gained 124% over the last 52 weeks. The company has reported strong sales and bookings, but the stock is also baking in friendly climate policies from the Biden administration.The stock has been wavering, however, after its big run. It has slumped 17% this year and it’s off more than 20% from 52-week highs around $112, recently trading around $82. Despite a favorable backdrop for green energy, First Solar’s sales and earnings are expected to fall slightly from 2021 to 2022. The stock trades at 24 times 2022 earnings, a premium to the market.Other large-cap stocks that make Wolfe’s blowup watch list include BioMarin Pharmaceutical (BMRN), Zendesk (ZEN), and Advanced Micro Devices (AMD). Zendesk and AMD are each up more than 100% over the last year, while BioMarin has been flat. All trade at steep valuations, with Zendesk topping the list at 130 times 2022 earnings estimates.A blowup may not be imminent in any of these names, but stocks without a significant profit in sight may fall sharply if market jitters resurface and investors start to appreciate higher earnings quality.","news_type":1,"symbols_score_info":{"CVNA":0.9,"LYFT":0.9,"ZEN":0.9,"EXPE":0.9,"NCLH":0.9,"FSLR":0.9,"AMD":0.9,"BYND":0.9,"RH":0.9,"COTY":0.9,"BMRN":0.9}},"isVote":1,"tweetType":1,"viewCount":674,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328696576,"gmtCreate":1615517703895,"gmtModify":1703490318070,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Like me pls","listText":"Like me pls","text":"Like me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/328696576","repostId":"1144029837","repostType":4,"repost":{"id":"1144029837","kind":"news","pubTimestamp":1615513990,"share":"https://www.laohu8.com/m/news/1144029837?lang=zh_CN&edition=full","pubTime":"2021-03-12 09:53","market":"sg","language":"en","title":"The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票又高飞了</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144029837","media":"Nasdaq","summary":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQIN","content":"<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>股市最近经历了很大的波动，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于劣势。然而周四，纳斯达克又坚持了下来。事实上，截至下午1:45美国东部时间今天，成长型股票基准涨幅超过2.5%，引领市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名成长型股票受到了很大的惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克，并计划从二月底和本月初的挫折中全面反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre的股价较今年早些时候的高点下跌了30%。然而，它们已经大幅反弹，今天近10%的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>周四，这位拉丁美洲电子商务专家获得了BTIG分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股1720美元。即使在今天下午较高的价格水平上，这也为MercadoLibre提供了10%的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG喜欢MercadoLibre一直遵循的战略，特别是考虑到它能够在其核心电子商务市场中添加辅助服务的方式。Mercado Pago支付网络本身就大受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也正在从巴西主要市场的其他参与者那里获得整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟投资者可能会喜欢Okta的大举买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta股价上涨8%，继续上涨，使这家网络身份专家的股价较近期低点上涨约20%。该股下跌了30%，但从根本上说，Okta看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司在上周公布第四季度财务业绩时最初下跌。尽管该期间收入同比增长40%且利润不大，但投资者不确定如何接受暗示收入增长放缓和可能亏损的指引。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>Sokta以65亿美元收购专注于客户身份管理的私营Auth0也引发了一些问题。这是一个增长领域，有人说Auth0产品实际上比Okta的竞争产品有一些优势，这使得收购对Okta来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种意识再次提振了该股，从长远来看，它可能有助于为Okta建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给风笛手</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股股价上涨约5%。这家支付网络专家遭受了25%的打击，但通过一系列战略举措，其业绩正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal最近敲定了收购加密货币安全公司Curv的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大业务。随着加密货币价格回到创纪录水平附近，投资者对PayPal在该领域保持有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal在4service中的薪资并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争力。所有这些因素加在一起，让人们再次对PayPal感到良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动很难忍受，但在低点卖出很少奏效。PayPal、Okta和MercadoLibre最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票又高飞了</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票又高飞了</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-12 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>股市最近经历了很大的波动，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于劣势。然而周四，纳斯达克又坚持了下来。事实上，截至下午1:45美国东部时间今天，成长型股票基准涨幅超过2.5%，引领市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名成长型股票受到了很大的惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克，并计划从二月底和本月初的挫折中全面反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre的股价较今年早些时候的高点下跌了30%。然而，它们已经大幅反弹，今天近10%的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>周四，这位拉丁美洲电子商务专家获得了BTIG分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股1720美元。即使在今天下午较高的价格水平上，这也为MercadoLibre提供了10%的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG喜欢MercadoLibre一直遵循的战略，特别是考虑到它能够在其核心电子商务市场中添加辅助服务的方式。Mercado Pago支付网络本身就大受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也正在从巴西主要市场的其他参与者那里获得整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟投资者可能会喜欢Okta的大举买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta股价上涨8%，继续上涨，使这家网络身份专家的股价较近期低点上涨约20%。该股下跌了30%，但从根本上说，Okta看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司在上周公布第四季度财务业绩时最初下跌。尽管该期间收入同比增长40%且利润不大，但投资者不确定如何接受暗示收入增长放缓和可能亏损的指引。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>Sokta以65亿美元收购专注于客户身份管理的私营Auth0也引发了一些问题。这是一个增长领域，有人说Auth0产品实际上比Okta的竞争产品有一些优势，这使得收购对Okta来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种意识再次提振了该股，从长远来看，它可能有助于为Okta建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给风笛手</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股股价上涨约5%。这家支付网络专家遭受了25%的打击，但通过一系列战略举措，其业绩正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal最近敲定了收购加密货币安全公司Curv的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大业务。随着加密货币价格回到创纪录水平附近，投资者对PayPal在该领域保持有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal在4service中的薪资并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争力。所有这些因素加在一起，让人们再次对PayPal感到良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动很难忍受，但在低点卖出很少奏效。PayPal、Okta和MercadoLibre最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11\">Nasdaq</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":{"OKTA":"Okta Inc.","MELI":"MercadoLibre","PYPL":"PayPal"},"source_url":"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144029837","content_text":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares ofMercadoLibre(NASDAQ: MELI),Okta(NASDAQ: OKTA), andPayPal Holdings(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.MercadoLibre's back in businessLess than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.Investors might like Okta's big buy after allShares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.Paying the piperLastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only one in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.Ride the waveVolatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.","news_type":1,"symbols_score_info":{"PYPL":0.9,"MELI":0.9,"OKTA":0.9}},"isVote":1,"tweetType":1,"viewCount":409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321741852,"gmtCreate":1615472846576,"gmtModify":1703489563992,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me please&nbsp;","listText":"Comment me please&nbsp;","text":"Comment me please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321741852","repostId":"2118981027","repostType":4,"isVote":1,"tweetType":1,"viewCount":646,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321743075,"gmtCreate":1615472796997,"gmtModify":1703489562093,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"No yes","listText":"No yes","text":"No yes","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321743075","repostId":"1109847640","repostType":4,"isVote":1,"tweetType":1,"viewCount":793,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321988094,"gmtCreate":1615388846418,"gmtModify":1703488374848,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me pls","listText":"Comment me pls","text":"Comment me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/321988094","repostId":"1186760571","repostType":4,"isVote":1,"tweetType":1,"viewCount":891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323760520,"gmtCreate":1615376970260,"gmtModify":1703488100426,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Like me pls","listText":"Like me pls","text":"Like me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/323760520","repostId":"2118067563","repostType":4,"isVote":1,"tweetType":1,"viewCount":555,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":359384184,"gmtCreate":1616345752748,"gmtModify":1634526282244,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me plsssss","listText":"Comment me plsssss","text":"Comment me plsssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/359384184","repostId":"1126157111","repostType":4,"isVote":1,"tweetType":1,"viewCount":2320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369187554,"gmtCreate":1614008637278,"gmtModify":1634551540702,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/369187554","repostId":"1159991476","repostType":4,"repost":{"id":"1159991476","kind":"news","pubTimestamp":1613988504,"share":"https://www.laohu8.com/m/news/1159991476?lang=zh_CN&edition=full","pubTime":"2021-02-22 18:08","market":"us","language":"en","title":"Who Rules the Cloud? The Answer Is Hazy.<blockquote>谁统治云？答案是模糊的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1159991476","media":"Barrons","summary":"Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by definitions that can make comparisons among them almost impossible.Amazon has the clearest story: AWS had net sales of $12.7 billion in the fourth quarter, and $45.4 billion for all of 2020. Sales were up 28% for the quarter, and 30% for the full year.Oracle’s approach isn’t any better. Most of its corporate revenue, including clou","content":"<p>Who has the biggest cloud? Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by definitions that can make comparisons among them almost impossible.</p><p><blockquote>谁的云最大？Amazon Web Services、微软Azure和谷歌云平台主导着美国公共云市场，甲骨文也在敲门。但是这些数据被定义混淆了，使得它们之间的比较几乎不可能。</blockquote></p><p> <b>Amazon</b>(ticker: AMZN) has the clearest story: AWS had net sales of $12.7 billion in the fourth quarter, and $45.4 billion for all of 2020. Sales were up 28% for the quarter, and 30% for the full year.</p><p><blockquote><b>亚马逊</b>（股票代码：AMZN）有一个最清晰的故事：AWS第四季度净销售额为127亿美元，2020年全年净销售额为454亿美元。本季度销售额增长28%，全年销售额增长30%。</blockquote></p><p> <b>Alphabet</b>(GOOGL) reported revenue of $3.8 billion for its Google Cloud business segment in the latest quarter, up 47%. But that includes results not only from the Google Cloud Platform, its public cloud business, but also from Google Workspace, the collection of productivity tools that used to be called G Suite. Alphabet says that GCP—the piece that competes with AWS—is growing faster than its overall cloud business, but provides no details.</p><p><blockquote><b>Alphabet</b>（GOOGL）公布最近一个季度谷歌云业务部门营收为38亿美元，增长47%。但这不仅包括谷歌云平台（其公共云业务）的结果，还包括谷歌Workspace（过去被称为G Suite的生产力工具集合）的结果。Alphabet表示，与AWS竞争的GCP的增长速度快于其整体云业务，但没有提供细节。</blockquote></p><p> <b>Microsoft’</b>s&nbsp;numbers are messier. The company (MSFT) said that “commercial cloud revenue” was $16.7 billion in the December quarter, up 34% from a year ago. But that’s not an actual reporting segment—the company doesn’t even provide the number every quarter. And it rolls up not just Azure but also Office 365 and other things. Maddeningly, Microsoft also has an overlapping formal business segment called Intelligent Cloud, which includes not only Azure, but also SQL Server, Windows Server, Visual Studio, and GitHub, among other elements. Intelligent Cloud had revenue of $14.6 billion in the latest quarter, up 23%. Azure revenue rose 50% in the quarter, but—sigh—Microsoft offers no dollar figure.</p><p><blockquote><b>微软</b>的数字更加混乱。该公司(MSFT)表示，12月份季度的“商业云收入”为167亿美元，同比增长34%。但这并不是一个实际的报告部分——该公司甚至不是每个季度都提供这个数字。它不仅可以卷Azure，还可以卷Office 365和其他东西。令人抓狂的是，微软还有一个重叠的正式业务部门，称为智能云，其中不仅包括Azure，还包括SQL Server、Windows Server、Visual Studio和GitHub等元素。智能云最近一个季度的收入为146亿美元，增长23%。Azure本季度收入增长了50%，但是——唉——微软没有提供美元数据。</blockquote></p><p> <b>Oracle</b>’s approach isn’t any better. Most of its corporate revenue, including cloud subscriptions, is rolled into a bucket called “cloud services and license support,” which was $7.1 billion in the quarter ended in November, up 4% from a year earlier, and accounting for 71% of revenue. That basically includes all cloud services, plus any recurring subscription services. Oracle (ORCL) partially breaks out some cloud-related bits, but provides no dollar figures.</p><p><blockquote><b>神谕</b>的方法也好不到哪里去。其大部分企业收入（包括云订阅）都归入名为“云服务和许可证支持”的类别，截至11月的季度收入为71亿美元，同比增长4%，占收入的71%。这基本上包括所有云服务，加上任何定期订阅服务。甲骨文(ORCL)部分公布了一些与云相关的信息，但没有提供美元数据。</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>Who Rules the Cloud? The Answer Is Hazy.<blockquote>谁统治云？答案是模糊的。</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\">\nWho Rules the Cloud? The Answer Is Hazy.<blockquote>谁统治云？答案是模糊的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-22 18:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Who has the biggest cloud? Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by definitions that can make comparisons among them almost impossible.</p><p><blockquote>谁的云最大？Amazon Web Services、微软Azure和谷歌云平台主导着美国公共云市场，甲骨文也在敲门。但是这些数据被定义混淆了，使得它们之间的比较几乎不可能。</blockquote></p><p> <b>Amazon</b>(ticker: AMZN) has the clearest story: AWS had net sales of $12.7 billion in the fourth quarter, and $45.4 billion for all of 2020. Sales were up 28% for the quarter, and 30% for the full year.</p><p><blockquote><b>亚马逊</b>（股票代码：AMZN）有一个最清晰的故事：AWS第四季度净销售额为127亿美元，2020年全年净销售额为454亿美元。本季度销售额增长28%，全年销售额增长30%。</blockquote></p><p> <b>Alphabet</b>(GOOGL) reported revenue of $3.8 billion for its Google Cloud business segment in the latest quarter, up 47%. But that includes results not only from the Google Cloud Platform, its public cloud business, but also from Google Workspace, the collection of productivity tools that used to be called G Suite. Alphabet says that GCP—the piece that competes with AWS—is growing faster than its overall cloud business, but provides no details.</p><p><blockquote><b>Alphabet</b>（GOOGL）公布最近一个季度谷歌云业务部门营收为38亿美元，增长47%。但这不仅包括谷歌云平台（其公共云业务）的结果，还包括谷歌Workspace（过去被称为G Suite的生产力工具集合）的结果。Alphabet表示，与AWS竞争的GCP的增长速度快于其整体云业务，但没有提供细节。</blockquote></p><p> <b>Microsoft’</b>s&nbsp;numbers are messier. The company (MSFT) said that “commercial cloud revenue” was $16.7 billion in the December quarter, up 34% from a year ago. But that’s not an actual reporting segment—the company doesn’t even provide the number every quarter. And it rolls up not just Azure but also Office 365 and other things. Maddeningly, Microsoft also has an overlapping formal business segment called Intelligent Cloud, which includes not only Azure, but also SQL Server, Windows Server, Visual Studio, and GitHub, among other elements. Intelligent Cloud had revenue of $14.6 billion in the latest quarter, up 23%. Azure revenue rose 50% in the quarter, but—sigh—Microsoft offers no dollar figure.</p><p><blockquote><b>微软</b>的数字更加混乱。该公司(MSFT)表示，12月份季度的“商业云收入”为167亿美元，同比增长34%。但这并不是一个实际的报告部分——该公司甚至不是每个季度都提供这个数字。它不仅可以卷Azure，还可以卷Office 365和其他东西。令人抓狂的是，微软还有一个重叠的正式业务部门，称为智能云，其中不仅包括Azure，还包括SQL Server、Windows Server、Visual Studio和GitHub等元素。智能云最近一个季度的收入为146亿美元，增长23%。Azure本季度收入增长了50%，但是——唉——微软没有提供美元数据。</blockquote></p><p> <b>Oracle</b>’s approach isn’t any better. Most of its corporate revenue, including cloud subscriptions, is rolled into a bucket called “cloud services and license support,” which was $7.1 billion in the quarter ended in November, up 4% from a year earlier, and accounting for 71% of revenue. That basically includes all cloud services, plus any recurring subscription services. Oracle (ORCL) partially breaks out some cloud-related bits, but provides no dollar figures.</p><p><blockquote><b>神谕</b>的方法也好不到哪里去。其大部分企业收入（包括云订阅）都归入名为“云服务和许可证支持”的类别，截至11月的季度收入为71亿美元，同比增长4%，占收入的71%。这基本上包括所有云服务，加上任何定期订阅服务。甲骨文(ORCL)部分公布了一些与云相关的信息，但没有提供美元数据。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/who-rules-the-cloud-the-answer-is-hazy-51613786285?mod=hp_DAY_Theme_2_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":{"MSFT":"微软","ORCL":"甲骨文","GOOGL":"谷歌A","AMZN":"亚马逊"},"source_url":"https://www.barrons.com/articles/who-rules-the-cloud-the-answer-is-hazy-51613786285?mod=hp_DAY_Theme_2_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159991476","content_text":"Who has the biggest cloud? Amazon Web Services, Microsoft Azure, and Google Cloud Platform dominate the U.S. public cloud market, withOracle knocking on the door. But the data are obfuscated by definitions that can make comparisons among them almost impossible.\nAmazon(ticker: AMZN) has the clearest story: AWS had net sales of $12.7 billion in the fourth quarter, and $45.4 billion for all of 2020. Sales were up 28% for the quarter, and 30% for the full year.\nAlphabet(GOOGL) reported revenue of $3.8 billion for its Google Cloud business segment in the latest quarter, up 47%. But that includes results not only from the Google Cloud Platform, its public cloud business, but also from Google Workspace, the collection of productivity tools that used to be called G Suite. Alphabet says that GCP—the piece that competes with AWS—is growing faster than its overall cloud business, but provides no details.\nMicrosoft’s numbers are messier. The company (MSFT) said that “commercial cloud revenue” was $16.7 billion in the December quarter, up 34% from a year ago. But that’s not an actual reporting segment—the company doesn’t even provide the number every quarter. And it rolls up not just Azure but also Office 365 and other things. Maddeningly, Microsoft also has an overlapping formal business segment called Intelligent Cloud, which includes not only Azure, but also SQL Server, Windows Server, Visual Studio, and GitHub, among other elements. Intelligent Cloud had revenue of $14.6 billion in the latest quarter, up 23%. Azure revenue rose 50% in the quarter, but—sigh—Microsoft offers no dollar figure.\nOracle’s approach isn’t any better. Most of its corporate revenue, including cloud subscriptions, is rolled into a bucket called “cloud services and license support,” which was $7.1 billion in the quarter ended in November, up 4% from a year earlier, and accounting for 71% of revenue. That basically includes all cloud services, plus any recurring subscription services. Oracle (ORCL) partially breaks out some cloud-related bits, but provides no dollar figures.","news_type":1,"symbols_score_info":{"GOOGL":0.9,"ORCL":0.9,"MSFT":0.9,"AMZN":0.9}},"isVote":1,"tweetType":1,"viewCount":282,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350829933,"gmtCreate":1616188662322,"gmtModify":1634526836672,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Liking commenting me pleasing","listText":"Liking commenting me pleasing","text":"Liking commenting me pleasing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/350829933","repostId":"1117450855","repostType":4,"repost":{"id":"1117450855","kind":"news","pubTimestamp":1616166767,"share":"https://www.laohu8.com/m/news/1117450855?lang=zh_CN&edition=full","pubTime":"2021-03-19 23:12","market":"us","language":"en","title":"Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1117450855","media":"marketwatch","summary":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration o","content":"<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>","source":"market_watch","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>Powell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</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\">\nPowell says Fed will keep supporting economy ‘for as long as it takes’<blockquote>鲍威尔表示美联储将“只要需要”继续支持经济</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">marketwatch</strong><span class=\"h-time small\">2021-03-19 23:12</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.</b>  Federal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”</p><p><blockquote><b>美联储主席在《华尔街日报》专栏中表示，前景一片光明，但复苏“远未完成”。</b>美联储主席鲍威尔周五表示，虽然美国经济前景“一片光明”，但复苏“远未完成”。</blockquote></p><p> In an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.</p><p><blockquote>在《华尔街日报》发表的一篇专栏文章中，鲍威尔讲述了去年2月他意识到冠状病毒大流行将席卷全国的那一刻。</blockquote></p><p> “The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.</p><p><blockquote>“美国经济面临的危险是严重的。面临的挑战是限制后果的严重程度和持续时间，以避免长期损害，”他说。</blockquote></p><p> Powell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.</p><p><blockquote>鲍威尔和他的同事根据从2008-2009年大衰退的缓慢复苏中吸取的教训，设计了对危机的快速反应，即迅速采取行动可能会更好。</blockquote></p><p> The central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.</p><p><blockquote>央行迅速将政策利率下调至零，并启动了被称为量化宽松的开放式资产购买计划。</blockquote></p><p> With economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.</p><p><blockquote>随着经济学家预测2021年将出现强劲增长，每天都有更多的美国人接种疫苗，金融市场想知道美联储的支持将持续多久。</blockquote></p><p> In the op-ed, Powell said the situation “is much improved.”</p><p><blockquote>鲍威尔在专栏中表示，情况“有了很大改善”。</blockquote></p><p> “But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.</p><p><blockquote>鲍威尔表示：“但复苏远未完成，因此美联储将继续为经济提供所需的支持，只要经济需要。”</blockquote></p><p> “I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.</p><p><blockquote>他说：“我真的相信，我们将从这场危机中变得更强大、更好，就像我们以前经常做的那样。”</blockquote></p><p> On Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.</p><p><blockquote>周三，美联储在最近的政策会议上再次承诺了宽松的货币政策立场，尽管预计今年经济增长将更加强劲，通胀将上升。</blockquote></p><p> The Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.</p><p><blockquote>美联储主席在周五的文章中没有提及通胀前景。华尔街许多人担心，在美联储收回宽松政策立场之前，经济会过热。</blockquote></p><p> Yields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.</p><p><blockquote>10年期国债TMUBMUSD10Y, 1.734%的收益率在年初低于1%后，本周已升至1.73%。</blockquote></p><p> Stocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.</p><p><blockquote>周五股市走低，道琼斯工业平均指数DJIA在早盘交易中下跌187点，-0.71%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page\">marketwatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/powell-says-fed-will-keep-supporting-economy-for-as-long-as-it-takes-11616165178?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1117450855","content_text":"Outlook is brightening, but recovery ‘far from complete,’ Fed chairman says in WSJ op-ed.\n\nFederal Reserve Chairman Jerome Powell on Friday said that while the U.S. economic outlook is “brightening,” the recovery is “far from complete.”\nIn an op-ed published in the Wall Street Journal,Powell recounted the moment last February when he realized that the coronavirus pandemic would sweep across the country.\n“The danger to the U.S. economy was grave. The challenge was to limit the severity and duration of the fallout to avoid longer-run damage,” he said.\nPowell and his colleagues engineered a rapid response to the crisis, based on the lesson learned from slow recovery to the Great Recession of 2008-2009 that swift action might have been better.\nThe central bank quickly slashed its policy interest rate to zero and launched an open-ended asset purchase program known as quantitative easing.\nWith economists penciling in strong growth for 2021 and more Americans getting vaccinated every day, financial markets are wondering how long Fed support will last.\nIn the op-ed, Powell said the situation “is much improved.”\n“But the recovery is far from complete, so at the Fed we will continue to provide the economy with the support that it needs for as long as it takes,” Powell said.\n“I truly believe that we will emerge from this crisis stronger and better, as we have done so often before,” he said.\nOn Wednesday, the Fed recommitted to its easy money policy stance at its latest policy meeting despite a forecast for stronger economic growth and higher inflation this year.\nThe Fed chairman did not mention the outlook for inflation in his Friday article . Many on Wall Street are worried that the economy will overheat before the Fed pulls back its easy policy stance.\nYields on the 10-year Treasury noteTMUBMUSD10Y,1.734%have risen to 1.73% this week after starting the year below 1%.\nStocks were trading lower on Friday, with the Dow Jones Industrial AverageDJIA,-0.71%down 187 points in mid-morning trading.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1498,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321988094,"gmtCreate":1615388846418,"gmtModify":1703488374848,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me pls","listText":"Comment me pls","text":"Comment me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/321988094","repostId":"1186760571","repostType":4,"isVote":1,"tweetType":1,"viewCount":891,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":322645829,"gmtCreate":1615806146861,"gmtModify":1703493243647,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me pls oink","listText":"Comment me pls oink","text":"Comment me pls oink","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/322645829","repostId":"1159332291","repostType":4,"isVote":1,"tweetType":1,"viewCount":600,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359597797,"gmtCreate":1616410743219,"gmtModify":1634525999070,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Potato box","listText":"Potato box","text":"Potato box","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/359597797","repostId":"1163016573","repostType":4,"isVote":1,"tweetType":1,"viewCount":2237,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328696576,"gmtCreate":1615517703895,"gmtModify":1703490318070,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Like me pls","listText":"Like me pls","text":"Like me pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/328696576","repostId":"1144029837","repostType":4,"repost":{"id":"1144029837","kind":"news","pubTimestamp":1615513990,"share":"https://www.laohu8.com/m/news/1144029837?lang=zh_CN&edition=full","pubTime":"2021-03-12 09:53","market":"sg","language":"en","title":"The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票又高飞了</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1144029837","media":"Nasdaq","summary":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQIN","content":"<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>股市最近经历了很大的波动，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于劣势。然而周四，纳斯达克又坚持了下来。事实上，截至下午1:45美国东部时间今天，成长型股票基准涨幅超过2.5%，引领市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名成长型股票受到了很大的惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克，并计划从二月底和本月初的挫折中全面反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre的股价较今年早些时候的高点下跌了30%。然而，它们已经大幅反弹，今天近10%的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>周四，这位拉丁美洲电子商务专家获得了BTIG分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股1720美元。即使在今天下午较高的价格水平上，这也为MercadoLibre提供了10%的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG喜欢MercadoLibre一直遵循的战略，特别是考虑到它能够在其核心电子商务市场中添加辅助服务的方式。Mercado Pago支付网络本身就大受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也正在从巴西主要市场的其他参与者那里获得整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟投资者可能会喜欢Okta的大举买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta股价上涨8%，继续上涨，使这家网络身份专家的股价较近期低点上涨约20%。该股下跌了30%，但从根本上说，Okta看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司在上周公布第四季度财务业绩时最初下跌。尽管该期间收入同比增长40%且利润不大，但投资者不确定如何接受暗示收入增长放缓和可能亏损的指引。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>Sokta以65亿美元收购专注于客户身份管理的私营Auth0也引发了一些问题。这是一个增长领域，有人说Auth0产品实际上比Okta的竞争产品有一些优势，这使得收购对Okta来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种意识再次提振了该股，从长远来看，它可能有助于为Okta建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给风笛手</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股股价上涨约5%。这家支付网络专家遭受了25%的打击，但通过一系列战略举措，其业绩正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal最近敲定了收购加密货币安全公司Curv的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大业务。随着加密货币价格回到创纪录水平附近，投资者对PayPal在该领域保持有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal在4service中的薪资并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争力。所有这些因素加在一起，让人们再次对PayPal感到良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动很难忍受，但在低点卖出很少奏效。PayPal、Okta和MercadoLibre最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>","source":"lsy1603171495471","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票又高飞了</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Nasdaq's Back, and These 3 Stocks Are Flying High Again<blockquote>纳斯达克回来了，这3只股票又高飞了</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Nasdaq</strong><span class=\"h-time small\">2021-03-12 09:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The stock market has been going through a lot of volatility lately, and the<b>Nasdaq Composite</b>(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.</p><p><blockquote>股市最近经历了很大的波动，<b>纳斯达克复合材料</b>（纳斯达克指数：^IXIC）发现自己处于劣势。然而周四，纳斯达克又坚持了下来。事实上，截至下午1:45美国东部时间今天，成长型股票基准涨幅超过2.5%，引领市场其他股票走高。</blockquote></p><p>A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares of<b><a href=\"https://laohu8.com/S/MELI\">MercadoLibre</a></b>(NASDAQ: MELI),<b>Okta</b>(NASDAQ: OKTA), and<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a> Holdings</b>(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.</p><p><blockquote>最近几周，许多知名成长型股票受到了很大的惩罚，因为投资者对许多有前途的公司的前景遭遇了信心危机。然而，周四，情况似乎有所好转。特别是，<b><a href=\"https://laohu8.com/S/MELI\">自由市场</a></b>（纳斯达克：MELI），<b>奥克塔</b>（纳斯达克：OKTA），以及<b><a href=\"https://laohu8.com/S/PYPL\">PayPal</a>控股</b>（纳斯达克：PYPL）的涨幅超过了纳斯达克，并计划从二月底和本月初的挫折中全面反弹。</blockquote></p><p><b>MercadoLibre's back in business</b></p><p><blockquote><b>MercadoLibre重新开业</b></blockquote></p><p>Less than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.</p><p><blockquote>不到一周前，MercadoLibre的股价较今年早些时候的高点下跌了30%。然而，它们已经大幅反弹，今天近10%的涨幅有助于收复失地。</blockquote></p><p>The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.</p><p><blockquote>周四，这位拉丁美洲电子商务专家获得了BTIG分析师的信任票。他们将该股评级从中性上调至买入，并将目标价定为每股1720美元。即使在今天下午较高的价格水平上，这也为MercadoLibre提供了10%的额外上涨空间。</blockquote></p><p>BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.</p><p><blockquote>BTIG喜欢MercadoLibre一直遵循的战略，特别是考虑到它能够在其核心电子商务市场中添加辅助服务的方式。Mercado Pago支付网络本身就大受欢迎，它从MercadoLibre生态系统之外产生了大量流量。该公司似乎也正在从巴西主要市场的其他参与者那里获得整体市场份额。</blockquote></p><p><b>Investors might like Okta's big buy after all</b></p><p><blockquote><b>毕竟投资者可能会喜欢Okta的大举买入</b></blockquote></p><p>Shares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.</p><p><blockquote>Okta股价上涨8%，继续上涨，使这家网络身份专家的股价较近期低点上涨约20%。该股下跌了30%，但从根本上说，Okta看起来做得很好。</blockquote></p><p>The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.</p><p><blockquote>该公司在上周公布第四季度财务业绩时最初下跌。尽管该期间收入同比增长40%且利润不大，但投资者不确定如何接受暗示收入增长放缓和可能亏损的指引。</blockquote></p><p>Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.</p><p><blockquote>Sokta以65亿美元收购专注于客户身份管理的私营Auth0也引发了一些问题。这是一个增长领域，有人说Auth0产品实际上比Okta的竞争产品有一些优势，这使得收购对Okta来说是双赢的。然而，当市场对成长型股票失去信心时，这似乎是一次不合时宜的尝试。</blockquote></p><p>It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.</p><p><blockquote>不过，很明显，Okta不会缺少寻求身份验证服务的客户。这种意识再次提振了该股，从长远来看，它可能有助于为Okta建立更多动力。</blockquote></p><p><b>Paying the piper</b></p><p><blockquote><b>付钱给风笛手</b></blockquote></p><p>Lastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.</p><p><blockquote>最后，PayPal控股股价上涨约5%。这家支付网络专家遭受了25%的打击，但通过一系列战略举措，其业绩正在上升。</blockquote></p><p>First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.</p><p><blockquote>首先，PayPal最近敲定了收购加密货币安全公司Curv的协议。自去年年底开始通过其应用程序提供精选代币以来，加密货币一直是PayPal的一项大业务。随着加密货币价格回到创纪录水平附近，投资者对PayPal在该领域保持有效竞争的潜力感到兴奋。</blockquote></p><p>Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only <a href=\"https://laohu8.com/S/AONE.U\">one</a> in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.</p><p><blockquote>与此同时，PayPal还努力允许客户使用短期分期付款计划进行购买，将购买价格分为四次付款。PayPal在4service中的薪资并不是唯一的<a href=\"https://laohu8.com/S/AONE.U\">一</a>在业务中，但它代表了公司进入该领域的竞争力。所有这些因素加在一起，让人们再次对PayPal感到良好。</blockquote></p><p><b>Ride the wave</b></p><p><blockquote><b>乘风破浪</b></blockquote></p><p>Volatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.</p><p><blockquote>波动很难忍受，但在低点卖出很少奏效。PayPal、Okta和MercadoLibre最近的上涨表明，强大的企业可以从逆境中反弹，并奖励坚持到底的股东。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11\">Nasdaq</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":{"OKTA":"Okta Inc.","MELI":"MercadoLibre","PYPL":"PayPal"},"source_url":"https://www.nasdaq.com/articles/the-nasdaqs-back-and-these-3-stocks-are-flying-high-again-2021-03-11","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1144029837","content_text":"The stock market has been going through a lot of volatility lately, and theNasdaq Composite(NASDAQINDEX: ^IXIC)has found itself on the short end of the stick. Yet on Thursday, the Nasdaq is holding its own again. In fact, as of 1:45 p.m. EST today, the growth-stock benchmark had managed to gain more than 2.5%, leading the rest of the market higher.A lot of well-knowngrowth stockshave taken a lot of punishment in recent weeks, as investors suffered a crisis of confidence in the prospects for many promising companies. On Thursday, though, things seemed to be turning around. In particular, shares ofMercadoLibre(NASDAQ: MELI),Okta(NASDAQ: OKTA), andPayPal Holdings(NASDAQ: PYPL)are outpacing the Nasdaq's gains and aiming to bounce back fully from their setbacks in late February and earlier this month.MercadoLibre's back in businessLess than a week ago, shares of MercadoLibre were down as much as 30% from their highs from earlier this year. Yet they've bounced back considerably, with today's nearly 10% gain helping to claw back lost ground.The Latin American e-commerce specialist got a vote of confidence from analysts at BTIG on Thursday. They upgraded the stock from neutral to buy and set a price target of $1,720 per share. That provides MercadoLibre with additional upside of another 10% even from this afternoon's elevated price levels.BTIG likes the strategy that MercadoLibre has been following, especially given the way that it has been able to add in ancillary services to its core e-commerce marketplace. The Mercado Pago payment network has been a hit all on its own, and it's generating considerable traffic from outside the MercadoLibre ecosystem. It also appears that the company is gaining market share overall from other players in the key Brazilian market.Investors might like Okta's big buy after allShares of Okta were up 8%, continuing an advance that has taken the cyber-identity specialist's stock up about 20% from its recent lows. The stock was down as much as 30%, but fundamentally, Okta looks like it's doing things right.The company originally lost ground when it reported fourth-quarter financial results last week. Despite year-over-year revenue gains of 40% and a modest profit for the period, investors weren't sure how to take guidance that suggested somewhat slower revenue growth and a possible loss.Also raising a few questions wasOkta's $6.5 billion acquisition bidfor privately held Auth0, which focuses on customer identity management. That's a growth area, and some have said that the Auth0 product actually has some advantages over Okta's competing offering that made a buyout a win-win for Okta. Yet when the market was losing faith in growth stocks, it seemed like an ill-timed foray.It's clear, though, that Okta isn't going to have any shortage of clients looking for identity verification services. That awareness is lifting the stock once again, and it could help build more momentum for Okta in the long run.Paying the piperLastly, shares of PayPal Holdings gained about 5%. The payment network specialist has taken a 25% hit, but it's rising on a number of strategic moves.First,PayPal recently finalized its agreement to buy Curv, a cryptocurrency security company. Crypto has been a big business for PayPal since late last year, when it started offering select tokens through its app. With crypto prices back near record levels, investors are excited about the potential for PayPal to keep competing effectively in the space.Meanwhile, PayPal has also embraced efforts to allow customers to make purchases using short-term installment plans, breaking up purchase prices into four payments. PayPal'sPay in 4service isn't the only one in the business, but it represents the company's competitive entry into the space. Together, all these factors are making people feel good about PayPal once again.Ride the waveVolatility is hard to endure, but selling at lows rarely works out. The recent gains in PayPal, Okta, and MercadoLibre show that strong businesses can bounce back from adversity and reward shareholders who stay the course.","news_type":1,"symbols_score_info":{"PYPL":0.9,"MELI":0.9,"OKTA":0.9}},"isVote":1,"tweetType":1,"viewCount":409,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365399169,"gmtCreate":1614695567951,"gmtModify":1703479990087,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Comment me please&nbsp;","listText":"Comment me please&nbsp;","text":"Comment me please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/365399169","repostId":"2116599076","repostType":4,"isVote":1,"tweetType":1,"viewCount":315,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361337745,"gmtCreate":1614203780087,"gmtModify":1634550764740,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Banana fishcakes. Yum.&nbsp;","listText":"Banana fishcakes. Yum.&nbsp;","text":"Banana fishcakes. Yum.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/361337745","repostId":"1129467108","repostType":4,"repost":{"id":"1129467108","kind":"news","pubTimestamp":1614164417,"share":"https://www.laohu8.com/m/news/1129467108?lang=zh_CN&edition=full","pubTime":"2021-02-24 19:00","market":"us","language":"en","title":"Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129467108","media":"Barrons","summary":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullie","content":"<p>Don’t worry. Be greedy.</p><p><blockquote>别担心。要贪心。</blockquote></p><p>Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.</p><p><blockquote>尽管投资者的担忧正在加剧，股市也受到债券收益率上升的欺负，但J.P.摩根策略师告诉他们的客户，现在是拥抱股票的时候了。</blockquote></p><p>TheS&amp;P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.</p><p><blockquote>标准普尔500指数可能在3875点附近徘徊，但该行坚持2021年年底目标价4400点，区间为4200点至4600点。它的数字不仅仅是股市预期收益的一些衍生物。相反，它们反映了美国在Covid-19大流行后的经济复苏。</blockquote></p><p>Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”</p><p><blockquote>摩根大通衍生品策略师肖恩·奎格(Shawn Quigg)最近告诉客户，市场实现“这种收益迟早会到来，特别是考虑到未来的众多催化剂、它们对波动性的影响以及对投资者定位的影响。”</blockquote></p><p>As President Joe Biden’s administration&nbsp;champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move&nbsp;that is fanning inflation fearsand worries about stock slumps.</p><p><blockquote>随着乔·拜登总统的政府支持1.9万亿美元的刺激计划，以及Covid-19感染和住院人数的下降，奎格预计股市将飙升。他的观点与近期交易有些出入。随着10年期国债收益率升至1.38%左右，股市下跌，此举加剧了通胀担忧和对股市暴跌的担忧。</blockquote></p><p>Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.</p><p><blockquote>奎格喜欢利用恐惧和悬而未决的刺激计划，拜登已经开始为该计划辩护，因为担心该计划规模过大。在各种采访中，总统挑战批评者告诉他，在这个国家如此多的人遭受苦难的时候，应该削减什么。拜登政府现在警告说，最大的风险不是大规模的刺激计划，而是规模太小，因此无法有意义地刺激经济增长。</blockquote></p><p>To position for the stock market to surge higher, Quigg advised clients to consider selling one of the&nbsp;SPDR S&amp;P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls&nbsp;with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.</p><p><blockquote>为了让股市飙升，Quigg建议客户考虑出售SPDR标普500 ETF（股票代码：SPDR标普500指数ETF）5月353美元的看跌期权之一，并购买5月15日450美元的看涨期权期权。当ETF价格为392.39美元时，杠杆风险逆转策略——即卖出一份看跌期权并买入更多执行价格更高但到期日相同的评级——可以免费完成。换句话说，卖出看跌期权收到的钱足以买入15个看涨的评级。</blockquote></p><p>The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.</p><p><blockquote>该交易表明，该ETF（最近交易价格约为387美元）将在5月21日5月期权到期时达到450美元。看涨期权售价460美元，价值10美元。</blockquote></p><p>Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.</p><p><blockquote>比方说，如果ETF下跌，因为当前的担忧将市场推至353美元的执行价格以下，投资者将有义务以较低的价格买入，或者回补或调整看跌期权。</blockquote></p><p>Quigg’s trade idea has a lot to admire.</p><p><blockquote>奎格的交易理念有很多值得钦佩的地方。</blockquote></p><p>For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.</p><p><blockquote>其一，上周晚些时候推荐该交易时成本为零。是的，自2月18日的报告发布以来，价格已经发生了变化，但投资者可以重新调整执行价格以创建类似的定价。市场会发生变化，这就是为什么列出了这么多不同的执行价格。</blockquote></p><p>Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&amp;P 500 stocks at lower prices isn’t terrible, either.</p><p><blockquote>此外，如果摩根大通对经济复苏的基本观点被证明是正确的，那么拥有一批不需要花费任何成本的上行评级可能会非常有利可图。如果市场屈服于当前价格走软的担忧，以较低的价格持有标普500股票也并不可怕。</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>Why J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy J.P. Morgan Says Now Is the Time to Bet on the S&P 500<blockquote>为什么摩根大通表示现在是押注标普500的时候</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-24 19:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Don’t worry. Be greedy.</p><p><blockquote>别担心。要贪心。</blockquote></p><p>Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.</p><p><blockquote>尽管投资者的担忧正在加剧，股市也受到债券收益率上升的欺负，但J.P.摩根策略师告诉他们的客户，现在是拥抱股票的时候了。</blockquote></p><p>TheS&amp;P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.</p><p><blockquote>标准普尔500指数可能在3875点附近徘徊，但该行坚持2021年年底目标价4400点，区间为4200点至4600点。它的数字不仅仅是股市预期收益的一些衍生物。相反，它们反映了美国在Covid-19大流行后的经济复苏。</blockquote></p><p>Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”</p><p><blockquote>摩根大通衍生品策略师肖恩·奎格(Shawn Quigg)最近告诉客户，市场实现“这种收益迟早会到来，特别是考虑到未来的众多催化剂、它们对波动性的影响以及对投资者定位的影响。”</blockquote></p><p>As President Joe Biden’s administration&nbsp;champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move&nbsp;that is fanning inflation fearsand worries about stock slumps.</p><p><blockquote>随着乔·拜登总统的政府支持1.9万亿美元的刺激计划，以及Covid-19感染和住院人数的下降，奎格预计股市将飙升。他的观点与近期交易有些出入。随着10年期国债收益率升至1.38%左右，股市下跌，此举加剧了通胀担忧和对股市暴跌的担忧。</blockquote></p><p>Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.</p><p><blockquote>奎格喜欢利用恐惧和悬而未决的刺激计划，拜登已经开始为该计划辩护，因为担心该计划规模过大。在各种采访中，总统挑战批评者告诉他，在这个国家如此多的人遭受苦难的时候，应该削减什么。拜登政府现在警告说，最大的风险不是大规模的刺激计划，而是规模太小，因此无法有意义地刺激经济增长。</blockquote></p><p>To position for the stock market to surge higher, Quigg advised clients to consider selling one of the&nbsp;SPDR S&amp;P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls&nbsp;with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.</p><p><blockquote>为了让股市飙升，Quigg建议客户考虑出售SPDR标普500 ETF（股票代码：SPDR标普500指数ETF）5月353美元的看跌期权之一，并购买5月15日450美元的看涨期权期权。当ETF价格为392.39美元时，杠杆风险逆转策略——即卖出一份看跌期权并买入更多执行价格更高但到期日相同的评级——可以免费完成。换句话说，卖出看跌期权收到的钱足以买入15个看涨的评级。</blockquote></p><p>The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.</p><p><blockquote>该交易表明，该ETF（最近交易价格约为387美元）将在5月21日5月期权到期时达到450美元。看涨期权售价460美元，价值10美元。</blockquote></p><p>Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.</p><p><blockquote>比方说，如果ETF下跌，因为当前的担忧将市场推至353美元的执行价格以下，投资者将有义务以较低的价格买入，或者回补或调整看跌期权。</blockquote></p><p>Quigg’s trade idea has a lot to admire.</p><p><blockquote>奎格的交易理念有很多值得钦佩的地方。</blockquote></p><p>For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.</p><p><blockquote>其一，上周晚些时候推荐该交易时成本为零。是的，自2月18日的报告发布以来，价格已经发生了变化，但投资者可以重新调整执行价格以创建类似的定价。市场会发生变化，这就是为什么列出了这么多不同的执行价格。</blockquote></p><p>Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&amp;P 500 stocks at lower prices isn’t terrible, either.</p><p><blockquote>此外，如果摩根大通对经济复苏的基本观点被证明是正确的，那么拥有一批不需要花费任何成本的上行评级可能会非常有利可图。如果市场屈服于当前价格走软的担忧，以较低的价格持有标普500股票也并不可怕。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA\">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":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/why-j-p-morgan-says-now-is-the-time-to-bet-on-the-s-p-500-51614090217?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129467108","content_text":"Don’t worry. Be greedy.Even though investor fears are rising, and the stock market is getting bullied by rising bond yields,J.P. Morganstrategists have told their clients that now is the time to embrace stocks.TheS&P 500may be waffling around 3875, but the bank is standing by its 2021 year-end price target of 4400 on a range of 4200 to 4600. Its numbers aren’t merely some derivative of the stock market’s expected earnings. Instead, they reflect America’s economic reawakening after the Covid-19 pandemic.Shawn Quigg, a J.P. Morgan derivatives strategist, recently told clients that there is little to stand in the way of the market’s achievement of “such gains sooner than later, particularly considering the numerous catalysts ahead, their impact on volatility, and the implications that will have on investor positioning.”As President Joe Biden’s administration champions a $1.9 trillion stimulus program, and Covid-19 infections and hospitalizations decline, Quigg anticipates stocks surging. His view is somewhat at odds with recent trading. Stocks have declined as the 10-year Treasury note yield has increased to about 1.38%, a move that is fanning inflation fearsand worries about stock slumps.Quigg likes taking advantage of the fear and the pending stimulus program, which Biden has begun to defend against concerns that it is too large. In various interviews, the president has challenged critics to tell him what to cut at a time when so much of the nation is suffering. The Biden administration is now warning that the greatest risk isn’t a large stimulus package, but one that is too small and thus doesn’t meaningfully stimulate economic growth.To position for the stock market to surge higher, Quigg advised clients to consider selling one of the SPDR S&P 500 ETF‘s (ticker: SPY) May $353 put options and buying 15 May $450 call options. When the ETF was at $392.39, the leveraged risk-reversal strategy—that is,selling one put and buying many more calls with a higher strike price but the same expiration—could be done for no cost. In other words, the money received for selling the put was enough to buy 15 bullish calls.The trade expresses high conviction that the ETF—which was recently trading around $387—will reach $450 by May 21, when May options expire. At $460, the call is worth $10.Should the ETF decline, say, because current fears push the market below the $353 strike price, investors would be obligated to buy it at the lower price, or to cover or adjust the puts.Quigg’s trade idea has a lot to admire.For one, the trade carried zero cost when it was recommended late last week. Yes, prices have moved since the Feb. 18 note was published, but investors can recast strike prices to create similar pricing. The markets change, and that’s why there are so many different strike prices that are listed.Moreover, if J.P. Morgan’s base view of the economic reawakening proves true, owning a bundle of upside calls that cost nothing could be quite lucrative. Should the market succumb to the current fears that are weakening prices, owning S&P 500 stocks at lower prices isn’t terrible, either.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360662973,"gmtCreate":1613907721292,"gmtModify":1634551891378,"author":{"id":"3571987061970330","authorId":"3571987061970330","name":"Jcjn","avatar":"https://static.tigerbbs.com/7769645a904e8a1e5e01c3a825fc6735","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3571987061970330","idStr":"3571987061970330"},"themes":[],"htmlText":"Like me please&nbsp;","listText":"Like me please&nbsp;","text":"Like me please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360662973","repostId":"1194607255","repostType":4,"isVote":1,"tweetType":1,"viewCount":427,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}