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2021-12-20

Goog

抱歉，原内容已删除

2021-12-20

Good

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2021-12-19

Finally

Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list<blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单</blockquote>

2021-12-17

$Novavax(NVAX)$Today 200 up???

2021-12-17

Good

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2021-12-16

Ok

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2021-12-16

$Novavax(NVAX)$20th Dec. D day for Novavax...

2021-12-15

Thank you for sharing

SoFi: Beaten Down Badly, We See Big Time Gains Ahead<blockquote>SoFi：遭受重创，我们看到未来将大幅上涨</blockquote>

2021-12-15

Ok

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2021-12-14

Ok

Toplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</blockquote>

2021-11-25

Thanks for sharing

Who Cares If Chamath Palihapitiya Sold SOFI Stock?<blockquote>谁在乎Chamath Palihapitiya是否出售SOFI股票？</blockquote>

2021-11-23

$Novavax(NVAX)$Be patient..

2021-11-22

Thanks for sharing

Fastly: Still Remaining On The Sidelines For Now<blockquote>Fastly：目前仍保持观望</blockquote>

2021-11-22

Thanks for sharing

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2021-11-20

$Novavax(NVAX)$Steady.. see you at 200 soon..

2021-11-09

Thank you

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2021-11-01

Thanks

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2021-03-10

$Mohawk Group Holdings(MWK)$Going up...

2021-03-09

$Mohawk Group Holdings(MWK)$Going up...

2021-03-08

So true...

How to handle market declines<blockquote>如何应对市场下跌</blockquote>

去老虎APP查看更多动态

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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":1639752003,"share":"https://www.laohu8.com/m/news/1155244596?lang=zh_CN&edition=full","pubTime":"2021-12-17 22:40","market":"us","language":"en","title":"Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list<blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155244596","media":"Tiger Newspress","summary":"Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emerg","content":"<p>Novavax continued to jump nearly&nbsp;5% in morning trading as its vaccine had been included on the&nbsp;emergency use list.<img src=\"https://static.tigerbbs.com/6e0b5588f7377a98c70179cdc8612b3f\" tg-width=\"765\" tg-height=\"561\" width=\"100%\" height=\"auto\">The World Health Organization has included&nbsp;its&nbsp;vaccine NVX-CoV2373 on the emergency use list,and its&nbsp;original drug called nuvaxovidtm is currently undergoing evaluation by the European Medicines Agency.</p><p><blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单。世界卫生组织已将其疫苗NVX-CoV2373列入紧急使用清单，其名为nuvaxovidtm的原研药物目前正在接受欧洲药品管理局的评估。</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>Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list<blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单</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\">\nNovavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list<blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单</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\">2021-12-17 22:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Novavax continued to jump nearly&nbsp;5% in morning trading as its vaccine had been included on the&nbsp;emergency use list.<img src=\"https://static.tigerbbs.com/6e0b5588f7377a98c70179cdc8612b3f\" tg-width=\"765\" tg-height=\"561\" width=\"100%\" height=\"auto\">The World Health Organization has included&nbsp;its&nbsp;vaccine NVX-CoV2373 on the emergency use list,and its&nbsp;original drug called nuvaxovidtm is currently undergoing evaluation by the European Medicines Agency.</p><p><blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单。世界卫生组织已将其疫苗NVX-CoV2373列入紧急使用清单，其名为nuvaxovidtm的原研药物目前正在接受欧洲药品管理局的评估。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVAX":"诺瓦瓦克斯医药"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155244596","content_text":"Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list.The World Health Organization has included its vaccine NVX-CoV2373 on the emergency use list,and its original drug called nuvaxovidtm is currently undergoing evaluation by the European Medicines Agency.","news_type":1,"symbols_score_info":{"NVAX":0.9}},"isVote":1,"tweetType":1,"viewCount":2010,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699030149,"gmtCreate":1639718865275,"gmtModify":1639718865324,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Today 200 up???","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Today 200 up???","text":"$Novavax(NVAX)$Today 200 up???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699030149","isVote":1,"tweetType":1,"viewCount":2467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690582770,"gmtCreate":1639692734587,"gmtModify":1639692734587,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690582770","repostId":"2192941013","repostType":2,"isVote":1,"tweetType":1,"viewCount":3204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690857187,"gmtCreate":1639657822619,"gmtModify":1639657822697,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690857187","repostId":"2191175029","repostType":2,"isVote":1,"tweetType":1,"viewCount":1939,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690884391,"gmtCreate":1639655122794,"gmtModify":1639655122794,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>20th Dec. D day for Novavax...","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>20th Dec. D day for Novavax...","text":"$Novavax(NVAX)$20th Dec. D day for Novavax...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/690884391","isVote":1,"tweetType":1,"viewCount":3375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607850693,"gmtCreate":1639527145298,"gmtModify":1639527145298,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Thank you for sharing","listText":"Thank you for sharing","text":"Thank you for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607850693","repostId":"1168111596","repostType":2,"repost":{"id":"1168111596","kind":"news","pubTimestamp":1639524397,"share":"https://www.laohu8.com/m/news/1168111596?lang=zh_CN&edition=full","pubTime":"2021-12-15 07:26","market":"us","language":"en","title":"SoFi: Beaten Down Badly, We See Big Time Gains Ahead<blockquote>SoFi：遭受重创，我们看到未来将大幅上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168111596","media":"seekingalpha","summary":"Summary\n\nWe have swing traded this stock successfully multiple times.\nAt these levels and below, it ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We have swing traded this stock successfully multiple times.</li>  <li>At these levels and below, it is a solid investment, but also once again a trading opportunity.</li>  <li>SOFI truly has a competitive advantage as a result of its horizontally integrated offerings cutting across many areas of fintech and banking.</li>  <li>The most recent quarter was decent, a banking charter is nigh, and this is going to be a winner you should own.</li>  <li>This idea was discussed in more depth with members of my private investing community, BAD BEAT Investing. </li> </ul> </p><p><blockquote><ul><li>我们已经多次成功地对这只股票进行波段交易。</li><li>在这些水平及以下，这是一项可靠的投资，但也再次成为一个交易机会。</li><li>SOFI确实具有竞争优势，因为其横向整合的产品横跨金融科技和银行业的许多领域。</li><li>最近一个季度表现不错，银行执照即将获得，这将是您应该拥有的赢家。</li><li>这个想法与我的私人投资社区BAD BEAT Investing的成员进行了更深入的讨论。</li></ul></blockquote></p><p> We recommend buying SoFi Technologies (SOFI) on this most recent selloff. We think the stock is at levels that are strong buys. Period. End of the column. That was easy. But in all seriousness, while having traded this name successfully multiple times, we felt it prudent to put out another piece on the ticker to inform our readers that it is setup once again as both a long-term winner if you enter here, and has the potential for a rapid-return swing trade. While the market has many concerns, with this pullback and considering the most recent earnings, the company is moving right along. We fully believe this will be a solid winner. You should own it.</p><p><blockquote>我们建议在最近的抛售中买入SoFi Technologies(SOFI)。我们认为该股处于强力买入的水平。周期。列的末尾。那很容易。但说真的，虽然已经多次成功交易了这个名字，但我们认为谨慎的做法是在股票代码上发布另一篇文章，以告知我们的读者，如果您进入这里，它将再次成为长期赢家，并且具有快速回报摇摆交易的潜力。尽管市场有很多担忧，但随着这次回调并考虑到最近的收益，该公司正在继续前进。我们完全相信这将是一个坚实的赢家。你应该拥有它。</blockquote></p><p> The stock is down hard from recent highs just weeks ago. Admittedly there may be some volatility, but we think the play is definitely to buy some now, and God willing if this drops more, buy it up.</p><p><blockquote>该股从几周前的近期高点大幅下跌。诚然，可能会有一些波动，但我们认为现在肯定是买入一些，上帝保佑，如果下跌更多，就买入。</blockquote></p><p> Make no mistake, there have been some other great companies we still love that are new and growing and the stocks have struggled. We think it's good to go.</p><p><blockquote>毫无疑问，还有其他一些我们仍然喜欢的伟大公司，它们是新的和成长中的，但股票却一直在苦苦挣扎。我们认为可以走了。</blockquote></p><p> <b>The play</b></p><p><blockquote><b>戏剧</b></blockquote></p><p> Buy 1: $14.30</p><p><blockquote>购买1：14.30美元</blockquote></p><p> Buy 2: $14.00</p><p><blockquote>购买2：$14.00</blockquote></p><p> Buy 3: $13.50</p><p><blockquote>购买3：13.50美元</blockquote></p><p> Shorter term profit target: $16.50-$17.00</p><p><blockquote>短期利润目标：$16.50-$17.00</blockquote></p><p> Traders who need a stop should look to jump ship on negative momentum at under 13.00, but we think it is a mistake frankly. Build a position for the longer term.</p><p><blockquote>需要止损的交易者应该在13.00以下的负面势头下跳槽，但坦率地说，我们认为这是一个错误。建立长期头寸。</blockquote></p><p> For call options, consider the January 2023 $15 strike.</p><p><blockquote>对于看涨期权期权，请考虑2023年1月15美元的行使价。</blockquote></p><p> <b>Discussion</b></p><p><blockquote><b>讨论</b></blockquote></p><p> The story of SOFI remains a great one. We know many who have used it in the years past, as they had attractive rates, terms, and made finance by the people, at least in the messaging. Here we are at the end of 2021, and SOFI now represents the next generation of banking, and plays into a growing fintech industry.</p><p><blockquote>SOFI的故事仍然是一个伟大的故事。我们知道许多人在过去几年里使用过它，因为他们有有吸引力的利率、条款，并且由人们融资，至少在信息传递中是这样。现在是2021年底，SOFI现在代表着下一代银行业，并在不断增长的金融科技行业中发挥作用。</blockquote></p><p> The stock got hit hard when SoftBank recently sold a massive stake. SoFi was also a bit of collateral damage in a recent New York court case, where a New York judge declined to approve Renren's (NYSE:RENN) settlement with shareholders who accused RENN insiders of taking the company's portfolio for themselves in 2018. The portfolio included a large stake in SoFi. Generally speaking, fintech has been weak of late. In fact, a lot of specialty tech has been hammered as we have noted in our chat boards, while the NASDAQ 100 index is largely holding up thanks to mega cap tech.</p><p><blockquote>当软银最近出售大量股份时，该股受到重创。SoFi在最近的纽约法庭案件中也受到了一些附带损害，纽约法官拒绝批准人人网（纽约证券交易所股票代码：RENN）与股东达成的和解，股东指控人人网内部人士在2018年将该公司的投资组合据为己有。该投资组合包括SoFi的大量股份。总的来说，金融科技最近表现疲软。事实上，正如我们在聊天板中指出的那样，许多专业科技股都受到了打击，而纳斯达克100指数在很大程度上得益于大型科技股。</blockquote></p><p> Regardless of the short term, when you look at SoFi, you have to be amazed at the growth they have shown! They started off as a simple provider of loans in the student loan market, and have since expanded their offerings to encompass a large array of services in the consumer finance sector. They have blossomed and now offer products ranging from personal loans, home loans, and even insurance, credit card services, cash management, brokerage services and recently to payments and financial services APIs for enterprises.</p><p><blockquote>无论短期如何，当你看到SoFi时，你都会对他们所表现出的增长感到惊讶！他们最初是学生贷款市场上的一个简单贷款提供商，后来扩大了他们的产品范围，涵盖了消费金融领域的大量服务。它们已经蓬勃发展，现在提供的产品范围从个人贷款、住房贷款，甚至保险、信用卡服务、现金管理、经纪服务，最近还为企业提供支付和金融服务API。</blockquote></p><p> Of course, their diverse and integrated ecosystem of services in a single app has gotten SOFI tremendous user growth, as increasingly frustrated customers of traditional banks opt to switch to SOFI for the ease of convenience.</p><p><blockquote>当然，他们在一个应用程序中提供多样化和集成的服务生态系统为SOFI带来了巨大的用户增长，因为越来越沮丧的传统银行客户选择转向SOFI以获得便利。</blockquote></p><p> What we love about this company is that it has such a low cost to acquire customers, but makes what a bank makes margin wise with loans. The combination of low-value financial products and high value loans on the same app increases the opportunity that its customers cross-buy into these loans. What is more, since the customer was acquired with low cost into its low-value offerings, the variable profit per customer that comes in and the buys into high-value loans now increases significantly compared to when obtaining that same loan customer through traditional means. In fact, it can increase 180%:</p><p><blockquote>我们喜欢这家公司的原因是，它获得客户的成本如此之低，但却能像银行那样通过贷款赚取利润。同一应用程序上低价值金融产品和高价值贷款的结合增加了客户交叉购买这些贷款的机会。此外，由于客户是以低成本获得其低价值产品的，与通过传统方式获得相同贷款客户相比，每个客户进入和购买高价值贷款的可变利润现在显著增加。事实上，它可以增加180%：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0e035dbd338ffdd698ad348e03cc7886\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> This is absolutely winning. The long-term potential here cannot be understated. That said, the most recent quarter was quite decent.</p><p><blockquote>这绝对是胜利。这里的长期潜力不可低估。也就是说，最近一个季度相当不错。</blockquote></p><p> Total revenue was $272.0 million in Q3 2021 which was up 35% from the corresponding prior-year period. On an adjusted basis, net revenue was $277.2 million, a record high for Q3, and 28% higher than last year's $216.8. Revenues were also up sequentially from Q2. There was continued strength in all three of SoFi's business segments, leading to these solid results, and the top line beat consensus estimates handily by $21.6 million.</p><p><blockquote>2021年第三季度总收入为2.72亿美元，比去年同期增长35%。调整后净收入为2.772亿美元，创第三季度历史新高，比去年的216.8美元增长28%。收入也较第二季度环比增长。SoFi的所有三个业务部门都持续强劲，取得了这些稳健的业绩，营收轻松超出市场普遍预期2160万美元。</blockquote></p><p></p><p> Now the major complaint of course for the relatively new public company is that it is not consistently making money on the bottom line. But it will folks. Indeed, SoFi saw $30.0 million net loss for the Q3 2021, compared to a net loss of $42.9 million in last year's quarter.</p><p><blockquote>当然，对于这家相对较新的上市公司来说，现在的主要抱怨是它没有持续盈利。但会的，伙计们。事实上，SoFi 2021年第三季度的净亏损为3000万美元，而去年同期的净亏损为4290万美元。</blockquote></p><p> The one thing to remember here is that the acquisition of Galileo was costly, and they lowered their valuation allowance. Just something to keep in mind. Anyway, we are pleased to see another quarter of positive adjusted EBITDA. It came in at of $10.3 million, and was positive for the fifth consecutive quarter, due to the combination of higher revenues across business segments, though this was a touch offset by increased spending to achieve incremental growth.</p><p><blockquote>这里要记住的一件事是，收购伽利略的成本很高，他们降低了估值准备金。只是一些需要记住的事情。无论如何，我们很高兴看到又一个季度的调整后EBITDA为正。由于各业务部门收入增加，收入为1,030万美元，连续第五个季度为正值，尽管这被实现增量增长的支出增加所抵消。</blockquote></p><p> One of the most critical items we noted was SOFI continues to accelerate its year-over-year growth in both members and total products in the quarter. This is key. Total members grew 96% year-over-year to 2.9 million, up from 1.5 million at the same point last year, and total products grew 105% to 3.3 million at quarter-end compared to 2.3 million at the same point last year.</p><p><blockquote>我们注意到的最重要的一点是SOFI在本季度继续加速会员和产品总数的同比增长。这是关键。会员总数同比增长96%，达到290万，高于去年同期的150万，产品总数增长105%，达到季度末的330万，而去年同期为230万。</blockquote></p><p> This is so critical to understand. The business metrics are largely improving, regardless of the stock moves. The stock is not the company. The company is not the stock. But the stock will recognize the moves in metrics eventually as the noise settles down and things improve. Growth in the member base and products continues to be driven by significant expansion in the offerings across business segments, particularly in the Financial Services segment, where growth in SoFi Invest and SoFi Money offerings more than doubled the number of Financial Services segment products, to nearly 3.2 million, up from approximately 1.2 million, at the same point last year.</p><p><blockquote>理解这一点非常重要。无论股票走势如何，业务指标都在大幅改善。股票不是公司。公司不是股票。但随着噪音平息和情况改善，该股最终会认识到指标的变化。会员基础和产品的增长继续受到各业务领域产品显着扩张的推动，特别是在金融服务领域，SoFi Invest和SoFi Money产品的增长使金融服务领域产品数量增加了一倍多，达到近320万，高于去年同期的约120万。</blockquote></p><p> As of the end of Q3, Financial Services segment products were nearly three times the number of Lending products.</p><p><blockquote>截至第三季度末，金融服务部门产品数量是借贷产品数量的近三倍。</blockquote></p><p> Growth in personal and student loans largely drove the 15% year-over-year increase in Lending segment products.</p><p><blockquote>个人和学生贷款的增长在很大程度上推动了贷款细分产品15%的同比增长。</blockquote></p><p> Technology Platform accounts increased by 80% to nearly 89 million. All of this is solid growth. The results versus guidance are a key communication from the company that we love to see. It helps hold them accountable.</p><p><blockquote>科技平台账户增长80%，达到近8900万。所有这些都是稳健的增长。结果与指导是我们希望看到的公司的关键沟通。这有助于让他们承担责任。</blockquote></p><p> We won't go incredibly deeper into the numbers but the key here is that the company's performance trounced guidance all around. We do not think management sandbags in order to beat either. The company is simply growing solidly.</p><p><blockquote>我们不会深入研究这些数字，但这里的关键是该公司的业绩全面超出了预期。我们也不认为管理层为了打败沙袋。该公司正在稳步增长。</blockquote></p><p> That said, management expects continued strong growth to finish the year. For Q4, they see expected adjusted net revenue of $272 to $282 million and expected adjusted EBITDA of $2 million to $3 million. That is strong growth on the top line:</p><p><blockquote>尽管如此，管理层预计今年将继续强劲增长。对于第四季度，他们预计调整后净收入为2.72亿美元至2.82亿美元，预计调整后EBITDA为200万美元至300万美元。这是营收的强劲增长：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d39f813c57f0aa872bee7e405db85a3\" tg-width=\"640\" tg-height=\"321\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The company also raised its guidance. We love it when companies raise guidance:</p><p><blockquote>该公司还提高了指引。我们喜欢公司提高指引：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9e250a317e08abf380a453e23c6e97b7\" tg-width=\"640\" tg-height=\"305\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Sure, there is a lot of noise around what will happen with rates, and the Fed, and with COVID and the economy. But in perspective, higher rates are good for companies that lend money, so long as they are securing funding at a nominal rate and profiting from a spread. The company sees annual performance being strong thanks to year-to-date performance and a strong Q4. We are most excited by seeing the company break a billion in revenues this year, with EBITDA possibly breaking $30 million. Growth from here is all but guaranteed.</p><p><blockquote>当然，关于利率、美联储、新冠疫情和经济将会发生什么，有很多噪音。但从长远来看，更高的利率对放款公司有利，只要它们能从名义利率获得资金，并能从利差中获利。由于今年迄今的业绩和第四季度强劲，该公司全年业绩强劲。我们最兴奋的是看到该公司今年的收入突破10亿美元，EBITDA可能突破3000万美元。这里的增长几乎是有保证的。</blockquote></p><p> <b>A few catalysts and risks</b></p><p><blockquote><b>一些催化剂和风险</b></blockquote></p><p> One thing we want to point out again is how the extension of the government's student loan moratorium has hindered the company. But that is coming to an end. While that was costly in 2021, we expect that 2022 will see a nice boost in repayment. So keep that in mind.</p><p><blockquote>我们想再次指出的一件事是，政府学生贷款暂停期的延长如何阻碍了该公司。但这种情况即将结束。虽然这在2021年成本高昂，但我们预计2022年还款将大幅增加。所以请记住这一点。</blockquote></p><p> Then there is of course the bank charter, which we see as very likely. For more on this, please see the many columns on SoFi on Seeking Alpha discussing this. We will say that as they have applied for a national bank license, if they get it, there are so many other products they could offer in addition to some other innovative things they could try as it relates to banking products.</p><p><blockquote>当然还有银行执照，我们认为这很有可能。有关这方面的更多信息，请参阅Seeking Alpha上SoFi上讨论此问题的许多专栏。我们会说，由于他们已经申请了国家银行许可证，如果他们获得了许可证，除了他们可以尝试的一些与银行产品相关的其他创新产品之外，他们还可以提供许多其他产品。</blockquote></p><p> Of course, a risk to the stock and to the company's growth would be if they were straight up denied a banking charter. That would hurt potential growth and we could see the stock being sold off pretty hard.</p><p><blockquote>当然，如果他们被直接拒绝银行牌照，股票和公司增长将面临风险。这将损害潜在增长，我们可能会看到该股被严重抛售。</blockquote></p><p> Another risk is if the government comes in and tries to regulate the massive uptick in the number of companies offering customers access to trading, or otherwise tries to limit individuals from trading. A lot of money is made from trading/investing, so any regulation here that limits this could be detrimental. Traders should keep their ears and eyes on the regulatory wire for anything that could hurt SoFi or its competitors in this regard.</p><p><blockquote>另一个风险是，如果政府介入并试图监管向客户提供交易机会的公司数量的大幅增加，或者试图限制个人交易。很多钱是从交易/投资中赚的，所以这里任何限制这一点的法规都可能是有害的。交易者应密切关注监管机构，了解任何可能在这方面伤害SoFi或其竞争对手的事情。</blockquote></p><p></p><p> <b>Take home</b></p><p><blockquote><b>带回家</b></blockquote></p><p> While the company and stock are not risk-free, the pullback has been massive. The secondary, as well as institutional selling, along with broader fintech weakness, has set up a great trading opportunity here. Take advantage of the selloff here and you will thank yourself down the road for buying this gem.</p><p><blockquote>虽然该公司和股票并非没有风险，但回调幅度很大。二级市场和机构抛售，以及更广泛的金融科技疲软，在这里创造了一个绝佳的交易机会。利用这里的抛售，你会感谢自己购买了这颗宝石。</blockquote></p><p></p>","source":"lsy1638401102509","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>SoFi: Beaten Down Badly, We See Big Time Gains Ahead<blockquote>SoFi：遭受重创，我们看到未来将大幅上涨</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\">\nSoFi: Beaten Down Badly, We See Big Time Gains Ahead<blockquote>SoFi：遭受重创，我们看到未来将大幅上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-12-15 07:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We have swing traded this stock successfully multiple times.</li>  <li>At these levels and below, it is a solid investment, but also once again a trading opportunity.</li>  <li>SOFI truly has a competitive advantage as a result of its horizontally integrated offerings cutting across many areas of fintech and banking.</li>  <li>The most recent quarter was decent, a banking charter is nigh, and this is going to be a winner you should own.</li>  <li>This idea was discussed in more depth with members of my private investing community, BAD BEAT Investing. </li> </ul> </p><p><blockquote><ul><li>我们已经多次成功地对这只股票进行波段交易。</li><li>在这些水平及以下，这是一项可靠的投资，但也再次成为一个交易机会。</li><li>SOFI确实具有竞争优势，因为其横向整合的产品横跨金融科技和银行业的许多领域。</li><li>最近一个季度表现不错，银行执照即将获得，这将是您应该拥有的赢家。</li><li>这个想法与我的私人投资社区BAD BEAT Investing的成员进行了更深入的讨论。</li></ul></blockquote></p><p> We recommend buying SoFi Technologies (SOFI) on this most recent selloff. We think the stock is at levels that are strong buys. Period. End of the column. That was easy. But in all seriousness, while having traded this name successfully multiple times, we felt it prudent to put out another piece on the ticker to inform our readers that it is setup once again as both a long-term winner if you enter here, and has the potential for a rapid-return swing trade. While the market has many concerns, with this pullback and considering the most recent earnings, the company is moving right along. We fully believe this will be a solid winner. You should own it.</p><p><blockquote>我们建议在最近的抛售中买入SoFi Technologies(SOFI)。我们认为该股处于强力买入的水平。周期。列的末尾。那很容易。但说真的，虽然已经多次成功交易了这个名字，但我们认为谨慎的做法是在股票代码上发布另一篇文章，以告知我们的读者，如果您进入这里，它将再次成为长期赢家，并且具有快速回报摇摆交易的潜力。尽管市场有很多担忧，但随着这次回调并考虑到最近的收益，该公司正在继续前进。我们完全相信这将是一个坚实的赢家。你应该拥有它。</blockquote></p><p> The stock is down hard from recent highs just weeks ago. Admittedly there may be some volatility, but we think the play is definitely to buy some now, and God willing if this drops more, buy it up.</p><p><blockquote>该股从几周前的近期高点大幅下跌。诚然，可能会有一些波动，但我们认为现在肯定是买入一些，上帝保佑，如果下跌更多，就买入。</blockquote></p><p> Make no mistake, there have been some other great companies we still love that are new and growing and the stocks have struggled. We think it's good to go.</p><p><blockquote>毫无疑问，还有其他一些我们仍然喜欢的伟大公司，它们是新的和成长中的，但股票却一直在苦苦挣扎。我们认为可以走了。</blockquote></p><p> <b>The play</b></p><p><blockquote><b>戏剧</b></blockquote></p><p> Buy 1: $14.30</p><p><blockquote>购买1：14.30美元</blockquote></p><p> Buy 2: $14.00</p><p><blockquote>购买2：$14.00</blockquote></p><p> Buy 3: $13.50</p><p><blockquote>购买3：13.50美元</blockquote></p><p> Shorter term profit target: $16.50-$17.00</p><p><blockquote>短期利润目标：$16.50-$17.00</blockquote></p><p> Traders who need a stop should look to jump ship on negative momentum at under 13.00, but we think it is a mistake frankly. Build a position for the longer term.</p><p><blockquote>需要止损的交易者应该在13.00以下的负面势头下跳槽，但坦率地说，我们认为这是一个错误。建立长期头寸。</blockquote></p><p> For call options, consider the January 2023 $15 strike.</p><p><blockquote>对于看涨期权期权，请考虑2023年1月15美元的行使价。</blockquote></p><p> <b>Discussion</b></p><p><blockquote><b>讨论</b></blockquote></p><p> The story of SOFI remains a great one. We know many who have used it in the years past, as they had attractive rates, terms, and made finance by the people, at least in the messaging. Here we are at the end of 2021, and SOFI now represents the next generation of banking, and plays into a growing fintech industry.</p><p><blockquote>SOFI的故事仍然是一个伟大的故事。我们知道许多人在过去几年里使用过它，因为他们有有吸引力的利率、条款，并且由人们融资，至少在信息传递中是这样。现在是2021年底，SOFI现在代表着下一代银行业，并在不断增长的金融科技行业中发挥作用。</blockquote></p><p> The stock got hit hard when SoftBank recently sold a massive stake. SoFi was also a bit of collateral damage in a recent New York court case, where a New York judge declined to approve Renren's (NYSE:RENN) settlement with shareholders who accused RENN insiders of taking the company's portfolio for themselves in 2018. The portfolio included a large stake in SoFi. Generally speaking, fintech has been weak of late. In fact, a lot of specialty tech has been hammered as we have noted in our chat boards, while the NASDAQ 100 index is largely holding up thanks to mega cap tech.</p><p><blockquote>当软银最近出售大量股份时，该股受到重创。SoFi在最近的纽约法庭案件中也受到了一些附带损害，纽约法官拒绝批准人人网（纽约证券交易所股票代码：RENN）与股东达成的和解，股东指控人人网内部人士在2018年将该公司的投资组合据为己有。该投资组合包括SoFi的大量股份。总的来说，金融科技最近表现疲软。事实上，正如我们在聊天板中指出的那样，许多专业科技股都受到了打击，而纳斯达克100指数在很大程度上得益于大型科技股。</blockquote></p><p> Regardless of the short term, when you look at SoFi, you have to be amazed at the growth they have shown! They started off as a simple provider of loans in the student loan market, and have since expanded their offerings to encompass a large array of services in the consumer finance sector. They have blossomed and now offer products ranging from personal loans, home loans, and even insurance, credit card services, cash management, brokerage services and recently to payments and financial services APIs for enterprises.</p><p><blockquote>无论短期如何，当你看到SoFi时，你都会对他们所表现出的增长感到惊讶！他们最初是学生贷款市场上的一个简单贷款提供商，后来扩大了他们的产品范围，涵盖了消费金融领域的大量服务。它们已经蓬勃发展，现在提供的产品范围从个人贷款、住房贷款，甚至保险、信用卡服务、现金管理、经纪服务，最近还为企业提供支付和金融服务API。</blockquote></p><p> Of course, their diverse and integrated ecosystem of services in a single app has gotten SOFI tremendous user growth, as increasingly frustrated customers of traditional banks opt to switch to SOFI for the ease of convenience.</p><p><blockquote>当然，他们在一个应用程序中提供多样化和集成的服务生态系统为SOFI带来了巨大的用户增长，因为越来越沮丧的传统银行客户选择转向SOFI以获得便利。</blockquote></p><p> What we love about this company is that it has such a low cost to acquire customers, but makes what a bank makes margin wise with loans. The combination of low-value financial products and high value loans on the same app increases the opportunity that its customers cross-buy into these loans. What is more, since the customer was acquired with low cost into its low-value offerings, the variable profit per customer that comes in and the buys into high-value loans now increases significantly compared to when obtaining that same loan customer through traditional means. In fact, it can increase 180%:</p><p><blockquote>我们喜欢这家公司的原因是，它获得客户的成本如此之低，但却能像银行那样通过贷款赚取利润。同一应用程序上低价值金融产品和高价值贷款的结合增加了客户交叉购买这些贷款的机会。此外，由于客户是以低成本获得其低价值产品的，与通过传统方式获得相同贷款客户相比，每个客户进入和购买高价值贷款的可变利润现在显著增加。事实上，它可以增加180%：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0e035dbd338ffdd698ad348e03cc7886\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> This is absolutely winning. The long-term potential here cannot be understated. That said, the most recent quarter was quite decent.</p><p><blockquote>这绝对是胜利。这里的长期潜力不可低估。也就是说，最近一个季度相当不错。</blockquote></p><p> Total revenue was $272.0 million in Q3 2021 which was up 35% from the corresponding prior-year period. On an adjusted basis, net revenue was $277.2 million, a record high for Q3, and 28% higher than last year's $216.8. Revenues were also up sequentially from Q2. There was continued strength in all three of SoFi's business segments, leading to these solid results, and the top line beat consensus estimates handily by $21.6 million.</p><p><blockquote>2021年第三季度总收入为2.72亿美元，比去年同期增长35%。调整后净收入为2.772亿美元，创第三季度历史新高，比去年的216.8美元增长28%。收入也较第二季度环比增长。SoFi的所有三个业务部门都持续强劲，取得了这些稳健的业绩，营收轻松超出市场普遍预期2160万美元。</blockquote></p><p></p><p> Now the major complaint of course for the relatively new public company is that it is not consistently making money on the bottom line. But it will folks. Indeed, SoFi saw $30.0 million net loss for the Q3 2021, compared to a net loss of $42.9 million in last year's quarter.</p><p><blockquote>当然，对于这家相对较新的上市公司来说，现在的主要抱怨是它没有持续盈利。但会的，伙计们。事实上，SoFi 2021年第三季度的净亏损为3000万美元，而去年同期的净亏损为4290万美元。</blockquote></p><p> The one thing to remember here is that the acquisition of Galileo was costly, and they lowered their valuation allowance. Just something to keep in mind. Anyway, we are pleased to see another quarter of positive adjusted EBITDA. It came in at of $10.3 million, and was positive for the fifth consecutive quarter, due to the combination of higher revenues across business segments, though this was a touch offset by increased spending to achieve incremental growth.</p><p><blockquote>这里要记住的一件事是，收购伽利略的成本很高，他们降低了估值准备金。只是一些需要记住的事情。无论如何，我们很高兴看到又一个季度的调整后EBITDA为正。由于各业务部门收入增加，收入为1,030万美元，连续第五个季度为正值，尽管这被实现增量增长的支出增加所抵消。</blockquote></p><p> One of the most critical items we noted was SOFI continues to accelerate its year-over-year growth in both members and total products in the quarter. This is key. Total members grew 96% year-over-year to 2.9 million, up from 1.5 million at the same point last year, and total products grew 105% to 3.3 million at quarter-end compared to 2.3 million at the same point last year.</p><p><blockquote>我们注意到的最重要的一点是SOFI在本季度继续加速会员和产品总数的同比增长。这是关键。会员总数同比增长96%，达到290万，高于去年同期的150万，产品总数增长105%，达到季度末的330万，而去年同期为230万。</blockquote></p><p> This is so critical to understand. The business metrics are largely improving, regardless of the stock moves. The stock is not the company. The company is not the stock. But the stock will recognize the moves in metrics eventually as the noise settles down and things improve. Growth in the member base and products continues to be driven by significant expansion in the offerings across business segments, particularly in the Financial Services segment, where growth in SoFi Invest and SoFi Money offerings more than doubled the number of Financial Services segment products, to nearly 3.2 million, up from approximately 1.2 million, at the same point last year.</p><p><blockquote>理解这一点非常重要。无论股票走势如何，业务指标都在大幅改善。股票不是公司。公司不是股票。但随着噪音平息和情况改善，该股最终会认识到指标的变化。会员基础和产品的增长继续受到各业务领域产品显着扩张的推动，特别是在金融服务领域，SoFi Invest和SoFi Money产品的增长使金融服务领域产品数量增加了一倍多，达到近320万，高于去年同期的约120万。</blockquote></p><p> As of the end of Q3, Financial Services segment products were nearly three times the number of Lending products.</p><p><blockquote>截至第三季度末，金融服务部门产品数量是借贷产品数量的近三倍。</blockquote></p><p> Growth in personal and student loans largely drove the 15% year-over-year increase in Lending segment products.</p><p><blockquote>个人和学生贷款的增长在很大程度上推动了贷款细分产品15%的同比增长。</blockquote></p><p> Technology Platform accounts increased by 80% to nearly 89 million. All of this is solid growth. The results versus guidance are a key communication from the company that we love to see. It helps hold them accountable.</p><p><blockquote>科技平台账户增长80%，达到近8900万。所有这些都是稳健的增长。结果与指导是我们希望看到的公司的关键沟通。这有助于让他们承担责任。</blockquote></p><p> We won't go incredibly deeper into the numbers but the key here is that the company's performance trounced guidance all around. We do not think management sandbags in order to beat either. The company is simply growing solidly.</p><p><blockquote>我们不会深入研究这些数字，但这里的关键是该公司的业绩全面超出了预期。我们也不认为管理层为了打败沙袋。该公司正在稳步增长。</blockquote></p><p> That said, management expects continued strong growth to finish the year. For Q4, they see expected adjusted net revenue of $272 to $282 million and expected adjusted EBITDA of $2 million to $3 million. That is strong growth on the top line:</p><p><blockquote>尽管如此，管理层预计今年将继续强劲增长。对于第四季度，他们预计调整后净收入为2.72亿美元至2.82亿美元，预计调整后EBITDA为200万美元至300万美元。这是营收的强劲增长：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d39f813c57f0aa872bee7e405db85a3\" tg-width=\"640\" tg-height=\"321\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The company also raised its guidance. We love it when companies raise guidance:</p><p><blockquote>该公司还提高了指引。我们喜欢公司提高指引：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9e250a317e08abf380a453e23c6e97b7\" tg-width=\"640\" tg-height=\"305\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Sure, there is a lot of noise around what will happen with rates, and the Fed, and with COVID and the economy. But in perspective, higher rates are good for companies that lend money, so long as they are securing funding at a nominal rate and profiting from a spread. The company sees annual performance being strong thanks to year-to-date performance and a strong Q4. We are most excited by seeing the company break a billion in revenues this year, with EBITDA possibly breaking $30 million. Growth from here is all but guaranteed.</p><p><blockquote>当然，关于利率、美联储、新冠疫情和经济将会发生什么，有很多噪音。但从长远来看，更高的利率对放款公司有利，只要它们能从名义利率获得资金，并能从利差中获利。由于今年迄今的业绩和第四季度强劲，该公司全年业绩强劲。我们最兴奋的是看到该公司今年的收入突破10亿美元，EBITDA可能突破3000万美元。这里的增长几乎是有保证的。</blockquote></p><p> <b>A few catalysts and risks</b></p><p><blockquote><b>一些催化剂和风险</b></blockquote></p><p> One thing we want to point out again is how the extension of the government's student loan moratorium has hindered the company. But that is coming to an end. While that was costly in 2021, we expect that 2022 will see a nice boost in repayment. So keep that in mind.</p><p><blockquote>我们想再次指出的一件事是，政府学生贷款暂停期的延长如何阻碍了该公司。但这种情况即将结束。虽然这在2021年成本高昂，但我们预计2022年还款将大幅增加。所以请记住这一点。</blockquote></p><p> Then there is of course the bank charter, which we see as very likely. For more on this, please see the many columns on SoFi on Seeking Alpha discussing this. We will say that as they have applied for a national bank license, if they get it, there are so many other products they could offer in addition to some other innovative things they could try as it relates to banking products.</p><p><blockquote>当然还有银行执照，我们认为这很有可能。有关这方面的更多信息，请参阅Seeking Alpha上SoFi上讨论此问题的许多专栏。我们会说，由于他们已经申请了国家银行许可证，如果他们获得了许可证，除了他们可以尝试的一些与银行产品相关的其他创新产品之外，他们还可以提供许多其他产品。</blockquote></p><p> Of course, a risk to the stock and to the company's growth would be if they were straight up denied a banking charter. That would hurt potential growth and we could see the stock being sold off pretty hard.</p><p><blockquote>当然，如果他们被直接拒绝银行牌照，股票和公司增长将面临风险。这将损害潜在增长，我们可能会看到该股被严重抛售。</blockquote></p><p> Another risk is if the government comes in and tries to regulate the massive uptick in the number of companies offering customers access to trading, or otherwise tries to limit individuals from trading. A lot of money is made from trading/investing, so any regulation here that limits this could be detrimental. Traders should keep their ears and eyes on the regulatory wire for anything that could hurt SoFi or its competitors in this regard.</p><p><blockquote>另一个风险是，如果政府介入并试图监管向客户提供交易机会的公司数量的大幅增加，或者试图限制个人交易。很多钱是从交易/投资中赚的，所以这里任何限制这一点的法规都可能是有害的。交易者应密切关注监管机构，了解任何可能在这方面伤害SoFi或其竞争对手的事情。</blockquote></p><p></p><p> <b>Take home</b></p><p><blockquote><b>带回家</b></blockquote></p><p> While the company and stock are not risk-free, the pullback has been massive. The secondary, as well as institutional selling, along with broader fintech weakness, has set up a great trading opportunity here. Take advantage of the selloff here and you will thank yourself down the road for buying this gem.</p><p><blockquote>虽然该公司和股票并非没有风险，但回调幅度很大。二级市场和机构抛售，以及更广泛的金融科技疲软，在这里创造了一个绝佳的交易机会。利用这里的抛售，你会感谢自己购买了这颗宝石。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475109-sofi-beaten-down-badly-we-see-big-time-gains-ahead\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://seekingalpha.com/article/4475109-sofi-beaten-down-badly-we-see-big-time-gains-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168111596","content_text":"Summary\n\nWe have swing traded this stock successfully multiple times.\nAt these levels and below, it is a solid investment, but also once again a trading opportunity.\nSOFI truly has a competitive advantage as a result of its horizontally integrated offerings cutting across many areas of fintech and banking.\nThe most recent quarter was decent, a banking charter is nigh, and this is going to be a winner you should own.\nThis idea was discussed in more depth with members of my private investing community, BAD BEAT Investing. \n\n\n\nWe recommend buying SoFi Technologies (SOFI) on this most recent selloff. We think the stock is at levels that are strong buys. Period. End of the column. That was easy. But in all seriousness, while having traded this name successfully multiple times, we felt it prudent to put out another piece on the ticker to inform our readers that it is setup once again as both a long-term winner if you enter here, and has the potential for a rapid-return swing trade. While the market has many concerns, with this pullback and considering the most recent earnings, the company is moving right along. We fully believe this will be a solid winner. You should own it.\n\nThe stock is down hard from recent highs just weeks ago. Admittedly there may be some volatility, but we think the play is definitely to buy some now, and God willing if this drops more, buy it up.\n\nMake no mistake, there have been some other great companies we still love that are new and growing and the stocks have struggled. We think it's good to go.\n\nThe play\nBuy 1: $14.30\n\nBuy 2: $14.00\n\nBuy 3: $13.50\n\nShorter term profit target: $16.50-$17.00\n\nTraders who need a stop should look to jump ship on negative momentum at under 13.00, but we think it is a mistake frankly. Build a position for the longer term.\n\nFor call options, consider the January 2023 $15 strike.\n\nDiscussion\nThe story of SOFI remains a great one. We know many who have used it in the years past, as they had attractive rates, terms, and made finance by the people, at least in the messaging. Here we are at the end of 2021, and SOFI now represents the next generation of banking, and plays into a growing fintech industry.\n\nThe stock got hit hard when SoftBank recently sold a massive stake. SoFi was also a bit of collateral damage in a recent New York court case, where a New York judge declined to approve Renren's (NYSE:RENN) settlement with shareholders who accused RENN insiders of taking the company's portfolio for themselves in 2018. The portfolio included a large stake in SoFi. Generally speaking, fintech has been weak of late. In fact, a lot of specialty tech has been hammered as we have noted in our chat boards, while the NASDAQ 100 index is largely holding up thanks to mega cap tech.\n\nRegardless of the short term, when you look at SoFi, you have to be amazed at the growth they have shown! They started off as a simple provider of loans in the student loan market, and have since expanded their offerings to encompass a large array of services in the consumer finance sector. They have blossomed and now offer products ranging from personal loans, home loans, and even insurance, credit card services, cash management, brokerage services and recently to payments and financial services APIs for enterprises.\n\nOf course, their diverse and integrated ecosystem of services in a single app has gotten SOFI tremendous user growth, as increasingly frustrated customers of traditional banks opt to switch to SOFI for the ease of convenience.\n\nWhat we love about this company is that it has such a low cost to acquire customers, but makes what a bank makes margin wise with loans. The combination of low-value financial products and high value loans on the same app increases the opportunity that its customers cross-buy into these loans. What is more, since the customer was acquired with low cost into its low-value offerings, the variable profit per customer that comes in and the buys into high-value loans now increases significantly compared to when obtaining that same loan customer through traditional means. In fact, it can increase 180%:\n\nThis is absolutely winning. The long-term potential here cannot be understated. That said, the most recent quarter was quite decent.\n\nTotal revenue was $272.0 million in Q3 2021 which was up 35% from the corresponding prior-year period. On an adjusted basis, net revenue was $277.2 million, a record high for Q3, and 28% higher than last year's $216.8. Revenues were also up sequentially from Q2. There was continued strength in all three of SoFi's business segments, leading to these solid results, and the top line beat consensus estimates handily by $21.6 million.\n\nNow the major complaint of course for the relatively new public company is that it is not consistently making money on the bottom line. But it will folks. Indeed, SoFi saw $30.0 million net loss for the Q3 2021, compared to a net loss of $42.9 million in last year's quarter.\n\nThe one thing to remember here is that the acquisition of Galileo was costly, and they lowered their valuation allowance. Just something to keep in mind. Anyway, we are pleased to see another quarter of positive adjusted EBITDA. It came in at of $10.3 million, and was positive for the fifth consecutive quarter, due to the combination of higher revenues across business segments, though this was a touch offset by increased spending to achieve incremental growth.\n\nOne of the most critical items we noted was SOFI continues to accelerate its year-over-year growth in both members and total products in the quarter. This is key. Total members grew 96% year-over-year to 2.9 million, up from 1.5 million at the same point last year, and total products grew 105% to 3.3 million at quarter-end compared to 2.3 million at the same point last year.\n\n\nThis is so critical to understand. The business metrics are largely improving, regardless of the stock moves. The stock is not the company. The company is not the stock. But the stock will recognize the moves in metrics eventually as the noise settles down and things improve. Growth in the member base and products continues to be driven by significant expansion in the offerings across business segments, particularly in the Financial Services segment, where growth in SoFi Invest and SoFi Money offerings more than doubled the number of Financial Services segment products, to nearly 3.2 million, up from approximately 1.2 million, at the same point last year.\n\nAs of the end of Q3, Financial Services segment products were nearly three times the number of Lending products.\n\nGrowth in personal and student loans largely drove the 15% year-over-year increase in Lending segment products.\n\nTechnology Platform accounts increased by 80% to nearly 89 million. All of this is solid growth. The results versus guidance are a key communication from the company that we love to see. It helps hold them accountable.\n\nWe won't go incredibly deeper into the numbers but the key here is that the company's performance trounced guidance all around. We do not think management sandbags in order to beat either. The company is simply growing solidly.\n\nThat said, management expects continued strong growth to finish the year. For Q4, they see expected adjusted net revenue of $272 to $282 million and expected adjusted EBITDA of $2 million to $3 million. That is strong growth on the top line:\n\nThe company also raised its guidance. We love it when companies raise guidance:\n\n\nSure, there is a lot of noise around what will happen with rates, and the Fed, and with COVID and the economy. But in perspective, higher rates are good for companies that lend money, so long as they are securing funding at a nominal rate and profiting from a spread. The company sees annual performance being strong thanks to year-to-date performance and a strong Q4. We are most excited by seeing the company break a billion in revenues this year, with EBITDA possibly breaking $30 million. Growth from here is all but guaranteed.\n\nA few catalysts and risks\nOne thing we want to point out again is how the extension of the government's student loan moratorium has hindered the company. But that is coming to an end. While that was costly in 2021, we expect that 2022 will see a nice boost in repayment. So keep that in mind.\n\nThen there is of course the bank charter, which we see as very likely. For more on this, please see the many columns on SoFi on Seeking Alpha discussing this. We will say that as they have applied for a national bank license, if they get it, there are so many other products they could offer in addition to some other innovative things they could try as it relates to banking products.\n\nOf course, a risk to the stock and to the company's growth would be if they were straight up denied a banking charter. That would hurt potential growth and we could see the stock being sold off pretty hard.\n\nAnother risk is if the government comes in and tries to regulate the massive uptick in the number of companies offering customers access to trading, or otherwise tries to limit individuals from trading. A lot of money is made from trading/investing, so any regulation here that limits this could be detrimental. Traders should keep their ears and eyes on the regulatory wire for anything that could hurt SoFi or its competitors in this regard.\n\nTake home\nWhile the company and stock are not risk-free, the pullback has been massive. The secondary, as well as institutional selling, along with broader fintech weakness, has set up a great trading opportunity here. Take advantage of the selloff here and you will thank yourself down the road for buying this gem.","news_type":1,"symbols_score_info":{"SOFI":0.9}},"isVote":1,"tweetType":1,"viewCount":3709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607804605,"gmtCreate":1639521622094,"gmtModify":1639521622094,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607804605","repostId":"2191937257","repostType":2,"isVote":1,"tweetType":1,"viewCount":2001,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607335352,"gmtCreate":1639487538635,"gmtModify":1639487538635,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/607335352","repostId":"1158459343","repostType":2,"repost":{"id":"1158459343","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":1639487038,"share":"https://www.laohu8.com/m/news/1158459343?lang=zh_CN&edition=full","pubTime":"2021-12-14 21:03","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158459343","media":"Tiger Newspress","summary":"Dow futures once turned positive Tuesday morning, up slightly from overnight trading as investors se","content":"<p>Dow futures once&nbsp;turned positive Tuesday morning, up slightly from overnight trading as investors set their sights on a prolific week in Washington that includes the&nbsp;Federal Reserve's final policy-setting meeting of 2021, set to commence today, and the&nbsp;release of new prints&nbsp;on retail sales, housing starts and other economic data.</p><p><blockquote>道指期货周二上午一度转为正值，较隔夜交易小幅上涨，因为投资者将目光投向了华盛顿多产的一周，其中包括定于今天开始的美联储2021年最后一次政策制定会议，以及新数据的发布。零售销售、新屋开工和其他经济数据。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were down 4 points, or 0.01%, S&amp;P 500 e-minis were down 9 points, or 0.19%, and Nasdaq 100 e-minis were down 77.75 points, or 0.48%.<img src=\"https://static.tigerbbs.com/d555345d7d2035d7566b21ae18b684a1\" tg-width=\"1080\" tg-height=\"343\" width=\"100%\" height=\"auto\">Traders are awaiting a decision from the Fed on&nbsp;how quickly the central bank will tighten monetary policy&nbsp;amid a backdrop of fresh inflation numbers that reflected the fastest annual increase in nearly four decades. The Labor Department's Consumer Price Index (CPI) soared 6.8% in November compared to last year, according to figures published last week.</p><p><blockquote>截至美国东部时间上午8:00，道指e-mini下跌4点，跌幅0.01%，标普500 e-mini下跌9点，跌幅0.19%，纳斯达克100 e-mini下跌77.75点，跌幅0.48%。交易员正在等待美联储就央行收紧货币政策的速度做出决定，因为新的通胀数据反映了近四十年来最快的年度增幅。根据上周公布的数据，美国劳工部11月份消费者价格指数(CPI)较去年飙升6.8%。</blockquote></p><p> The Federal Open Market Committee (FOMC) is scheduled to hold its two-day policy-setting meeting starting on Tuesday, followed by the release of the monetary policy statement and remarks from Federal Reserve Chair Jerome Powell Wednesday. An updated Summary of Economic Projections outlining individual members' outlooks for economic conditions and interest rates is set to accompany the statement.</p><p><blockquote>联邦公开市场委员会（FOMC）定于周二开始举行为期两天的政策制定会议，随后美联储主席杰罗姆·鲍威尔将于周三发布货币政策声明和讲话。该声明将附有最新的经济预测摘要，概述各个成员对经济状况和利率的展望。</blockquote></p><p> The Fed has been under pressure to control rising inflation levels, as investors watch for clues of a faster taper that could set the stage for earlier rate hikes.</p><p><blockquote>美联储一直面临着控制通胀水平上升的压力，投资者正在关注更快缩减规模的线索，这可能为提前加息奠定基础。</blockquote></p><p> Markets&nbsp;await a trove of fresh economic data this week. November retail sales, out on Wednesday, are expected to rise by 0.8%, according to Bloomberg consensus estimates. And November housing starts are forecasted to see a month-over-month increase of 3.3%.</p><p><blockquote>市场等待本周大量新的经济数据。根据彭博社的普遍预测，周三公布的11月份零售额预计将增长0.8%。预计11月份新屋开工量将环比增长3.3%。</blockquote></p><p> Meanwhile, Morgan Stanley projects the U.S. unemployment rate will drop to 3% in 2022.</p><p><blockquote>与此同时，摩根士丹利预计美国失业率将在2022年降至3%。</blockquote></p><p> <b>Stocks making the biggest moves premarket: </b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/GME\">GameStop</a></b> – The videogame retailer – one of the so-called “meme” stocks – lost another 3.1% in the premarket following a nearly 14% tumble yesterday to its lowest close since March. GameStop had seen its stock slide last week after reporting a wider quarterly loss.</p><p><blockquote><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>-这家视频游戏零售商（所谓的“模因”股票之一）继昨天暴跌近14%至3月份以来的最低收盘价后，盘前又下跌3.1%。游戏驿站在报告更广泛的季度亏损后，其股价上周下跌。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a></b> – The movie theater operator’s stock slid 6% in premarket trading, after extending a losing streak to 3 days with a more than 15% plummet Monday. Last week, CEO Adam Aron sold all his holdings in AMC while CFO Sean Goodman sold the bulk of his AMC stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/AMC\">AMC院线</a></b>–这家电影院运营商的股价在盘前交易中下跌6%，周一暴跌超过15%，连续三天下跌。上周，首席执行官亚当·阿伦(Adam Aron)出售了其在AMC的所有股份，而首席财务官肖恩·古德曼(Sean Goodman)则出售了其持有的大部分AMC股票。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat, Inc.</a></b> – The maker of plant-based meat substitutes saw its stock jump 4.8% in premarket action, putting it in a position to break a 3-day losing streak. Piper Sandler upgraded the stock to “neutral” from “underweight,” saying a nationwide launch at&nbsp;McDonald’s(MCD) could happen within less than 3 months.</p><p><blockquote><b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat公司。</a></b>-这家植物性肉类替代品制造商的股价在盘前上涨4.8%，有望打破连续3天的下跌。Piper Sandler将该股评级从“跑输大盘”上调至“中性”，并表示麦当劳(MCD)可能会在不到3个月的时间内在全国范围内推出。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PFE\">Pfizer</a></b> – The drugmaker said a final study of its antiviral Covid-19 pill showed it to be 89% effective in preventing hospitalizations and deaths in high-risk patients, similar to what earlier studies had shown. It added that the drug appears to be effective against the omicron variant.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a></b>–该制药商表示，对其抗病毒Covid-19药丸的最终研究表明，它在预防高危患者住院和死亡方面的有效性为89%，与早期研究显示的结果类似。它补充说，该药物似乎对奥密克戎变种有效。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> – Tesla shares slid 1.5% in premarket trading after CEO Elon Musk sold more of his holdings to cover tax bills generated by the exercising of stock options. Tesla has dropped more than 20% from its all-time high and its overall market value has fallen back under the $1 trillion mark.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a></b>-特斯拉股价在盘前交易中下跌1.5%，此前首席执行官Elon Musk出售了更多持股以支付行使股票期权产生的税单。特斯拉较历史高点下跌逾20%，整体市值回落至1万亿美元大关以下。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WB\">Weibo</a></b> – <a href=\"https://laohu8.com/S/WB\">Weibo</a> slid 5.3% in the premarket after the China-based social networking company was fined 3 million yuan (about $471,000) by regulators, who said some of Weibo’s accounts and content violated various laws and regulations.</p><p><blockquote><b><a href=\"https://laohu8.com/S/WB\">微博</a></b>–<a href=\"https://laohu8.com/S/WB\">微博</a>这家总部位于中国的社交网络公司被监管机构罚款300万元人民币（约合47.1万美元），监管机构称微博的一些账户和内容违反了各种法律法规，盘前股价下跌5.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TMX\">Terminix Global Holdings Inc</a></b> – The pest control company’s shares soared 21.9% in the premarket after it agreed to be acquired by British rivalRentokilfor $6.7 billion in cash and stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TMX\">Terminix全球控股公司</a></b>–这家害虫防治公司同意被英国竞争对手Rentokil以67亿美元现金和股票收购后，其股价在盘前飙升21.9%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AA\">Alcoa</a></b> – The aluminum producer’s shares rallied 4.2% in premarket trading following news that the stock will be added to the S&amp;P Midcap 400 Index prior to the opening of trading next Monday. It replacesHill-Rom Holdings, which is being acquired by&nbsp;Baxter International(BAX).</p><p><blockquote><b><a href=\"https://laohu8.com/S/AA\">美国铝业</a></b>-该铝生产商的股价在盘前交易中上涨4.2%，此前有消息称该股将在下周一开盘前被纳入标准普尔中型股400指数。它取代了正在被百特国际(BAX)收购的Shill-Rom Holdings。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/DELL\">Dell Technologies Inc.</a></b> – The computer maker’s stock was downgraded to “in line” from “outperform” at Evercore, which notes Dell’s nearly 60% appreciation this year ahead of what it sees as a moderating personal computer market. Dell lost 1.7% in the premarket.</p><p><blockquote><b><a href=\"https://laohu8.com/S/DELL\">戴尔技术公司。</a></b>Evercore将这家电脑制造商的股票评级从“跑赢大盘”下调至“持平”，该公司指出，在其认为个人电脑市场放缓之前，戴尔今年的股价上涨了近60%。戴尔盘前下跌1.7%。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/RL\">Ralph Lauren</a></b> – The apparel maker slid 3% in the premarket after a Goldman Sachs double downgrade to “sell” from “buy” on the thesis that brand momentum indicators are fading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/RL\">拉尔夫·劳伦</a></b>-高盛以品牌势头指标正在消退为由，将评级从“买入”两次下调至“卖出”，该服装制造商盘前股价下跌3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NEOG\">Neogen</a></b> – The food safety company’s stock surged 12.1% in premarket trading after it announced a deal to combine itself with the food safety division of&nbsp;3M(MMM).</p><p><blockquote><b><a href=\"https://laohu8.com/S/NEOG\">新近纪</a></b>-这家食品安全公司宣布与300万（3M）食品安全部门合并后，其股价在盘前交易中飙升12.1%。</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>Toplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</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\">2021-12-14 21:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Dow futures once&nbsp;turned positive Tuesday morning, up slightly from overnight trading as investors set their sights on a prolific week in Washington that includes the&nbsp;Federal Reserve's final policy-setting meeting of 2021, set to commence today, and the&nbsp;release of new prints&nbsp;on retail sales, housing starts and other economic data.</p><p><blockquote>道指期货周二上午一度转为正值，较隔夜交易小幅上涨，因为投资者将目光投向了华盛顿多产的一周，其中包括定于今天开始的美联储2021年最后一次政策制定会议，以及新数据的发布。零售销售、新屋开工和其他经济数据。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were down 4 points, or 0.01%, S&amp;P 500 e-minis were down 9 points, or 0.19%, and Nasdaq 100 e-minis were down 77.75 points, or 0.48%.<img src=\"https://static.tigerbbs.com/d555345d7d2035d7566b21ae18b684a1\" tg-width=\"1080\" tg-height=\"343\" width=\"100%\" height=\"auto\">Traders are awaiting a decision from the Fed on&nbsp;how quickly the central bank will tighten monetary policy&nbsp;amid a backdrop of fresh inflation numbers that reflected the fastest annual increase in nearly four decades. The Labor Department's Consumer Price Index (CPI) soared 6.8% in November compared to last year, according to figures published last week.</p><p><blockquote>截至美国东部时间上午8:00，道指e-mini下跌4点，跌幅0.01%，标普500 e-mini下跌9点，跌幅0.19%，纳斯达克100 e-mini下跌77.75点，跌幅0.48%。交易员正在等待美联储就央行收紧货币政策的速度做出决定，因为新的通胀数据反映了近四十年来最快的年度增幅。根据上周公布的数据，美国劳工部11月份消费者价格指数(CPI)较去年飙升6.8%。</blockquote></p><p> The Federal Open Market Committee (FOMC) is scheduled to hold its two-day policy-setting meeting starting on Tuesday, followed by the release of the monetary policy statement and remarks from Federal Reserve Chair Jerome Powell Wednesday. An updated Summary of Economic Projections outlining individual members' outlooks for economic conditions and interest rates is set to accompany the statement.</p><p><blockquote>联邦公开市场委员会（FOMC）定于周二开始举行为期两天的政策制定会议，随后美联储主席杰罗姆·鲍威尔将于周三发布货币政策声明和讲话。该声明将附有最新的经济预测摘要，概述各个成员对经济状况和利率的展望。</blockquote></p><p> The Fed has been under pressure to control rising inflation levels, as investors watch for clues of a faster taper that could set the stage for earlier rate hikes.</p><p><blockquote>美联储一直面临着控制通胀水平上升的压力，投资者正在关注更快缩减规模的线索，这可能为提前加息奠定基础。</blockquote></p><p> Markets&nbsp;await a trove of fresh economic data this week. November retail sales, out on Wednesday, are expected to rise by 0.8%, according to Bloomberg consensus estimates. And November housing starts are forecasted to see a month-over-month increase of 3.3%.</p><p><blockquote>市场等待本周大量新的经济数据。根据彭博社的普遍预测，周三公布的11月份零售额预计将增长0.8%。预计11月份新屋开工量将环比增长3.3%。</blockquote></p><p> Meanwhile, Morgan Stanley projects the U.S. unemployment rate will drop to 3% in 2022.</p><p><blockquote>与此同时，摩根士丹利预计美国失业率将在2022年降至3%。</blockquote></p><p> <b>Stocks making the biggest moves premarket: </b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/GME\">GameStop</a></b> – The videogame retailer – one of the so-called “meme” stocks – lost another 3.1% in the premarket following a nearly 14% tumble yesterday to its lowest close since March. GameStop had seen its stock slide last week after reporting a wider quarterly loss.</p><p><blockquote><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>-这家视频游戏零售商（所谓的“模因”股票之一）继昨天暴跌近14%至3月份以来的最低收盘价后，盘前又下跌3.1%。游戏驿站在报告更广泛的季度亏损后，其股价上周下跌。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a></b> – The movie theater operator’s stock slid 6% in premarket trading, after extending a losing streak to 3 days with a more than 15% plummet Monday. Last week, CEO Adam Aron sold all his holdings in AMC while CFO Sean Goodman sold the bulk of his AMC stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/AMC\">AMC院线</a></b>–这家电影院运营商的股价在盘前交易中下跌6%，周一暴跌超过15%，连续三天下跌。上周，首席执行官亚当·阿伦(Adam Aron)出售了其在AMC的所有股份，而首席财务官肖恩·古德曼(Sean Goodman)则出售了其持有的大部分AMC股票。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat, Inc.</a></b> – The maker of plant-based meat substitutes saw its stock jump 4.8% in premarket action, putting it in a position to break a 3-day losing streak. Piper Sandler upgraded the stock to “neutral” from “underweight,” saying a nationwide launch at&nbsp;McDonald’s(MCD) could happen within less than 3 months.</p><p><blockquote><b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat公司。</a></b>-这家植物性肉类替代品制造商的股价在盘前上涨4.8%，有望打破连续3天的下跌。Piper Sandler将该股评级从“跑输大盘”上调至“中性”，并表示麦当劳(MCD)可能会在不到3个月的时间内在全国范围内推出。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PFE\">Pfizer</a></b> – The drugmaker said a final study of its antiviral Covid-19 pill showed it to be 89% effective in preventing hospitalizations and deaths in high-risk patients, similar to what earlier studies had shown. It added that the drug appears to be effective against the omicron variant.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a></b>–该制药商表示，对其抗病毒Covid-19药丸的最终研究表明，它在预防高危患者住院和死亡方面的有效性为89%，与早期研究显示的结果类似。它补充说，该药物似乎对奥密克戎变种有效。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> – Tesla shares slid 1.5% in premarket trading after CEO Elon Musk sold more of his holdings to cover tax bills generated by the exercising of stock options. Tesla has dropped more than 20% from its all-time high and its overall market value has fallen back under the $1 trillion mark.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a></b>-特斯拉股价在盘前交易中下跌1.5%，此前首席执行官Elon Musk出售了更多持股以支付行使股票期权产生的税单。特斯拉较历史高点下跌逾20%，整体市值回落至1万亿美元大关以下。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WB\">Weibo</a></b> – <a href=\"https://laohu8.com/S/WB\">Weibo</a> slid 5.3% in the premarket after the China-based social networking company was fined 3 million yuan (about $471,000) by regulators, who said some of Weibo’s accounts and content violated various laws and regulations.</p><p><blockquote><b><a href=\"https://laohu8.com/S/WB\">微博</a></b>–<a href=\"https://laohu8.com/S/WB\">微博</a>这家总部位于中国的社交网络公司被监管机构罚款300万元人民币（约合47.1万美元），监管机构称微博的一些账户和内容违反了各种法律法规，盘前股价下跌5.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TMX\">Terminix Global Holdings Inc</a></b> – The pest control company’s shares soared 21.9% in the premarket after it agreed to be acquired by British rivalRentokilfor $6.7 billion in cash and stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TMX\">Terminix全球控股公司</a></b>–这家害虫防治公司同意被英国竞争对手Rentokil以67亿美元现金和股票收购后，其股价在盘前飙升21.9%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AA\">Alcoa</a></b> – The aluminum producer’s shares rallied 4.2% in premarket trading following news that the stock will be added to the S&amp;P Midcap 400 Index prior to the opening of trading next Monday. It replacesHill-Rom Holdings, which is being acquired by&nbsp;Baxter International(BAX).</p><p><blockquote><b><a href=\"https://laohu8.com/S/AA\">美国铝业</a></b>-该铝生产商的股价在盘前交易中上涨4.2%，此前有消息称该股将在下周一开盘前被纳入标准普尔中型股400指数。它取代了正在被百特国际(BAX)收购的Shill-Rom Holdings。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/DELL\">Dell Technologies Inc.</a></b> – The computer maker’s stock was downgraded to “in line” from “outperform” at Evercore, which notes Dell’s nearly 60% appreciation this year ahead of what it sees as a moderating personal computer market. Dell lost 1.7% in the premarket.</p><p><blockquote><b><a href=\"https://laohu8.com/S/DELL\">戴尔技术公司。</a></b>Evercore将这家电脑制造商的股票评级从“跑赢大盘”下调至“持平”，该公司指出，在其认为个人电脑市场放缓之前，戴尔今年的股价上涨了近60%。戴尔盘前下跌1.7%。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/RL\">Ralph Lauren</a></b> – The apparel maker slid 3% in the premarket after a Goldman Sachs double downgrade to “sell” from “buy” on the thesis that brand momentum indicators are fading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/RL\">拉尔夫·劳伦</a></b>-高盛以品牌势头指标正在消退为由，将评级从“买入”两次下调至“卖出”，该服装制造商盘前股价下跌3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NEOG\">Neogen</a></b> – The food safety company’s stock surged 12.1% in premarket trading after it announced a deal to combine itself with the food safety division of&nbsp;3M(MMM).</p><p><blockquote><b><a href=\"https://laohu8.com/S/NEOG\">新近纪</a></b>-这家食品安全公司宣布与300万（3M）食品安全部门合并后，其股价在盘前交易中飙升12.1%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158459343","content_text":"Dow futures once turned positive Tuesday morning, up slightly from overnight trading as investors set their sights on a prolific week in Washington that includes the Federal Reserve's final policy-setting meeting of 2021, set to commence today, and the release of new prints on retail sales, housing starts and other economic data.\nAt 8:00 a.m. ET, Dow e-minis were down 4 points, or 0.01%, S&P 500 e-minis were down 9 points, or 0.19%, and Nasdaq 100 e-minis were down 77.75 points, or 0.48%.Traders are awaiting a decision from the Fed on how quickly the central bank will tighten monetary policy amid a backdrop of fresh inflation numbers that reflected the fastest annual increase in nearly four decades. The Labor Department's Consumer Price Index (CPI) soared 6.8% in November compared to last year, according to figures published last week.\nThe Federal Open Market Committee (FOMC) is scheduled to hold its two-day policy-setting meeting starting on Tuesday, followed by the release of the monetary policy statement and remarks from Federal Reserve Chair Jerome Powell Wednesday. An updated Summary of Economic Projections outlining individual members' outlooks for economic conditions and interest rates is set to accompany the statement.\nThe Fed has been under pressure to control rising inflation levels, as investors watch for clues of a faster taper that could set the stage for earlier rate hikes.\nMarkets await a trove of fresh economic data this week. November retail sales, out on Wednesday, are expected to rise by 0.8%, according to Bloomberg consensus estimates. And November housing starts are forecasted to see a month-over-month increase of 3.3%.\nMeanwhile, Morgan Stanley projects the U.S. unemployment rate will drop to 3% in 2022.\nStocks making the biggest moves premarket: \nGameStop – The videogame retailer – one of the so-called “meme” stocks – lost another 3.1% in the premarket following a nearly 14% tumble yesterday to its lowest close since March. GameStop had seen its stock slide last week after reporting a wider quarterly loss.\nAMC Entertainment – The movie theater operator’s stock slid 6% in premarket trading, after extending a losing streak to 3 days with a more than 15% plummet Monday. Last week, CEO Adam Aron sold all his holdings in AMC while CFO Sean Goodman sold the bulk of his AMC stock.\nBeyond Meat, Inc. – The maker of plant-based meat substitutes saw its stock jump 4.8% in premarket action, putting it in a position to break a 3-day losing streak. Piper Sandler upgraded the stock to “neutral” from “underweight,” saying a nationwide launch at McDonald’s(MCD) could happen within less than 3 months.\nPfizer – The drugmaker said a final study of its antiviral Covid-19 pill showed it to be 89% effective in preventing hospitalizations and deaths in high-risk patients, similar to what earlier studies had shown. It added that the drug appears to be effective against the omicron variant.\nTesla Motors – Tesla shares slid 1.5% in premarket trading after CEO Elon Musk sold more of his holdings to cover tax bills generated by the exercising of stock options. Tesla has dropped more than 20% from its all-time high and its overall market value has fallen back under the $1 trillion mark.\nWeibo – Weibo slid 5.3% in the premarket after the China-based social networking company was fined 3 million yuan (about $471,000) by regulators, who said some of Weibo’s accounts and content violated various laws and regulations.\nTerminix Global Holdings Inc – The pest control company’s shares soared 21.9% in the premarket after it agreed to be acquired by British rivalRentokilfor $6.7 billion in cash and stock.\nAlcoa – The aluminum producer’s shares rallied 4.2% in premarket trading following news that the stock will be added to the S&P Midcap 400 Index prior to the opening of trading next Monday. It replacesHill-Rom Holdings, which is being acquired by Baxter International(BAX).\nDell Technologies Inc. – The computer maker’s stock was downgraded to “in line” from “outperform” at Evercore, which notes Dell’s nearly 60% appreciation this year ahead of what it sees as a moderating personal computer market. Dell lost 1.7% in the premarket.\nRalph Lauren – The apparel maker slid 3% in the premarket after a Goldman Sachs double downgrade to “sell” from “buy” on the thesis that brand momentum indicators are fading.\nNeogen – The food safety company’s stock surged 12.1% in premarket trading after it announced a deal to combine itself with the food safety division of 3M(MMM).","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874410570,"gmtCreate":1637809855724,"gmtModify":1637809855724,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/874410570","repostId":"1130325691","repostType":2,"repost":{"id":"1130325691","kind":"news","pubTimestamp":1637804160,"share":"https://www.laohu8.com/m/news/1130325691?lang=zh_CN&edition=full","pubTime":"2021-11-25 09:36","market":"us","language":"en","title":"Who Cares If Chamath Palihapitiya Sold SOFI Stock?<blockquote>谁在乎Chamath Palihapitiya是否出售SOFI股票？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130325691","media":"InvestorPlace","summary":"SOFI stock is at $18 now, but in the long term it's $30 or bust","content":"<p><div> InvestorPlace’s Joel Baglole recently discussed venture capitalist Chamath Palihapitiya’s sale of 15% of his holdings in SoFi Technologies(NASDAQ:SOFI) stock. The news, which put pressure on SOFI ...</p><p><blockquote><div>InvestorPlace的Joel Baglole最近讨论了风险投资家Chamath Palihapitiya出售其持有的SoFi Technologies（纳斯达克股票代码：SOFI）15%的股票。这一消息给SOFI带来了压力...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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 Cares If Chamath Palihapitiya Sold SOFI Stock?<blockquote>谁在乎Chamath Palihapitiya是否出售SOFI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\">\nWho Cares If Chamath Palihapitiya Sold SOFI Stock?<blockquote>谁在乎Chamath Palihapitiya是否出售SOFI股票？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-11-25 09:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> InvestorPlace’s Joel Baglole recently discussed venture capitalist Chamath Palihapitiya’s sale of 15% of his holdings in SoFi Technologies(NASDAQ:SOFI) stock. The news, which put pressure on SOFI ...</p><p><blockquote><div>InvestorPlace的Joel Baglole最近讨论了风险投资家Chamath Palihapitiya出售其持有的SoFi Technologies（纳斯达克股票代码：SOFI）15%的股票。这一消息给SOFI带来了压力...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">InvestorPlace</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":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130325691","content_text":"InvestorPlace’s Joel Baglole recently discussed venture capitalist Chamath Palihapitiya’s sale of 15% of his holdings in SoFi Technologies(NASDAQ:SOFI) stock.\nThe news, which put pressure on SOFI stock, should matter little to anyone else investing in SoFi.\nHere’s why.\nSOFI Stock Is One of Many Investments\nAnyone who follows special purpose acquisition companies knows that SPACs aren’t necessarily meant to be significant investments – although they can be – for the sponsors of the SPAC. Instead, the sponsors are there to attract other investors and find a suitable business to merge with, so they can put the cash raised to work.\nIn the case of SoFi,it merged with Social Capital Hedosophia Holdings Corp. V, on May 28.SCH Sponsor V LLC, the partnership between Social Capital, Palihapitiya’s venture capital firm, and Hedosophia, Ian Osborne’s investment firm, raised $300 million in October 2020 to put into play.\nWhen Social Capital Hedosophia announced the merger in January, its presentation stated that Social Capital Hedosophia, the sponsor, would own 2.3% of the merged entity. However, in the PIPE (private investment in public equity) noted on page 49 of its presentation, Social Capital and Hedosophia invested $275 million, good for another 3.2% [$275M/1.225B multiplied by 14.2%].\nAt the time of the merger, SoFi’s shareholders owned 74.2% of the company. It’s those shareholders that investors ought to be more concerned about.\nSome of the Other Selling Stockholders\nIf you look at the Nov. 15 supplement to its prospectus, you will see that several insiders were selling stock totaling 50 million shares in a secondary offering. Of those 50 million,ChaChaCha SPAC 5 LLC, an entity controlled by Palihapitiya, sold 5.36 million shares in the offering, reducing its stake to 28.68 million, or 3.6% of the company.\nSoftBank Group(OTCMKTS:SFTBY), on the other hand, is selling 22.51 million shares, reducing its stake from 14.6% to 11.8%. However, it is still SoFi’s largest shareholder, owning more than 3x as many shares as Palihapitiya.\nSoftBank first invested in SoFi in the company’s Series E funding in September 2015.\n“SoftBank seeks to invest in large industries or geographies that are ripe for change,” said Nikesh Arora, president & COO of SoftBank Group in its September 2015 press release. “This investment gives SoftBank exposure to the financial services sector, which is one of the largest and most important industries in the world. SoFi is clearly a game changer in the fintech space.”\nSo, the fact that SoftBank is selling some of its shares after more than five years of holding them should also be of little concern to investors. SoftBank isn’t in the business of permanent holdings.\nWhat’s Important for Investors\nThe secondary sale of SOFI stock pushed its shares lower by 12% “of its peak, according toInvestorPlace’sMark Hake. However, he believes the dip warrants a buying opportunity.\nHake believes that SOFI stock is worth $25 or possibly more. Currently it trades at $18.\n“Analysts on Wall Street are still quite positive on SOFI stock. For example, six Wall Street buy-side analysts that have written on the stock in the last 3 months have an average price target of $26.33, according to TipRanks. That represents a potential upside of over 29% for SOFI stock,” Hake wrote on Nov. 20.\nSOFI stock had traded above $20 since the end of October, but well off its 52-week highs.\nIn early November, I suggested that several fintechs were going public was an indication that it might be a good time to buy SOFI stock. While November hasn’t worked out as I’d hoped for SoFi, I continue to believe that the fintech disruptor will move higher over the final days of 2021 and the early part of 2022.\nThe company reported Q3 2021 results that included a 35.5% increase in revenue over last year. In addition, it hit a membership total of 2.9 million, 96% higher year-over-year, thanks to the introduction of new products such as SoFi Invest.\nSoFi will continue to launch products that meet the needs of its customer base, now almost 3 million strong.\nI continue to like SoFi stock as a long-term financial services hold.","news_type":1,"symbols_score_info":{"SOFI":0.9}},"isVote":1,"tweetType":1,"viewCount":965,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875656813,"gmtCreate":1637648077852,"gmtModify":1637648077852,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Be patient..&nbsp;","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Be patient..&nbsp;","text":"$Novavax(NVAX)$Be patient..","images":[{"img":"https://static.tigerbbs.com/97a44db525b2320daaa634daa7eb5418","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875656813","isVote":1,"tweetType":1,"viewCount":1002,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":875002689,"gmtCreate":1637583803446,"gmtModify":1637583803446,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875002689","repostId":"1150650904","repostType":2,"repost":{"id":"1150650904","kind":"news","pubTimestamp":1637323265,"share":"https://www.laohu8.com/m/news/1150650904?lang=zh_CN&edition=full","pubTime":"2021-11-19 20:01","market":"us","language":"en","title":"Fastly: Still Remaining On The Sidelines For Now<blockquote>Fastly：目前仍保持观望</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150650904","media":"seekingalpha","summary":"Summary\n\nFastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and nega","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Fastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and negative free cash flow are starting to drain the company's liquidity.</li>  <li>Management provided weaker-than-expected Q4 guidance, though the $1 billion revenue target by 2025 optically looks nice.</li>  <li>Valuation seems to be pricing in strong growth over the coming years, and at 17x forward revenue, I remain on the sidelines waiting for a better entry point.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/142c5f2c4a4ce915516d1e3e32c7b9d2\" tg-width=\"1536\" tg-height=\"1022\" width=\"100%\" height=\"auto\"><span>Leon Neal/Getty Images News</span></p><p><blockquote><ul><li>Fastly公布的第三季度业绩好于预期，尽管持续的调整后EBITDA亏损和负自由现金流开始耗尽公司的流动性。</li><li>尽管到2025年10亿美元的收入目标看起来不错，但管理层提供的第四季度指引弱于预期。</li><li>估值似乎反映了未来几年的强劲增长，在预期收入17倍的情况下，我仍处于观望状态，等待更好的切入点。</li></ul><p class=\"t-img-caption\"><span>莱昂·尼尔/盖蒂图片社新闻</span></p></blockquote></p><p> Fastly (FSLY) reported a good Q3 earnings with revenue above expectations, though the negative adjusted EBITDA and free cash flow continue to place questions around longer-term profitability. The stock has traded down around 15% since the company's earnings release, though continues to trade at a premium 17x forward revenue multiple.</p><p><blockquote>Fastly(FSLY)公布了良好的第三季度收益，收入超出预期，尽管调整后EBITDA和自由现金流为负继续引发人们对长期盈利能力的质疑。自该公司发布财报以来，该股的交易价格已下跌约15%，但其交易价格仍较预期收入高出17倍。</blockquote></p><p> Management also provided guidance for Q4 which seemed a little soft compared to expectations. On top of that, their $1 billion revenue target by 2025 seems positive at face value and represents a 30% growth CAGR, though they did acknowledge that some growth could come from M&amp;A, meaning organic growth might be lower than 30%.</p><p><blockquote>管理层还提供了第四季度的指引，与预期相比似乎有些疲软。最重要的是，他们到2025年10亿美元的收入目标从表面上看似乎是积极的，代表着30%的复合年增长率，尽管他们确实承认一些增长可能来自并购，这意味着有机增长可能低于30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fb02c16fe105dbc0c38553ce010703d2\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> While the growth prospects have improved, I still remain on the sidelines and wait for a better entry point. I believe there remains execution risk to the growth story and even though the $1 billion revenue target seems positive, I believe investors will turn their focus towards profitability and the potential need to tap the debt and/or equity markets to fund growth given their negative free cash flows.</p><p><blockquote>虽然增长前景有所改善，但我仍然保持观望，等待更好的切入点。我认为增长故事仍然存在执行风险，尽管10亿美元的收入目标似乎是积极的，但我相信投资者将把注意力转向盈利能力，以及鉴于其负自由现金流，利用债务和/或股票市场为增长提供资金的潜在需求。</blockquote></p><p> I last wrote about FSLY in mid-September when the stock was trading around $45 and noted a better entry point would be below $40. Since then, the stock has been quite volatile, yet we are still around the same $45 level.</p><p><blockquote>我上次撰写有关FSLY的文章是在9月中旬，当时该股的交易价格约为45美元，并指出更好的切入点是低于40美元。自那以后，该股波动很大，但我们仍在45美元的水平附近。</blockquote></p><p> Fastly operates a CDN (content delivery network). In other words, that have a network of services and data centers globally distributed that makes it easier for consumers to access faster internet. Through their edge cloud platform, FSLY's infrastructure is closer to the consumer's desired destination, which increases internet response times and can reduce latency.</p><p><blockquote>Fastly运营CDN（内容交付网络）。换句话说，它拥有一个分布在全球的服务和数据中心网络，这使得消费者更容易访问更快的互联网。通过他们的边缘云平台，FSLY的基础设施更接近消费者所需的目的地，这增加了互联网响应时间并减少了延迟。</blockquote></p><p> <b>Recent Financial Review</b></p><p><blockquote><b>近期财务回顾</b></blockquote></p><p> Revenue during Q3 grew 23% to $87 million, which came in just over $3 million above expectations for $83-84 million. Even though revenue had nearly $1 million impact from some write-downs associated with their Signal Sciences acquisition, growth was still pretty strong.</p><p><blockquote>第三季度收入增长23%，达到8700万美元，比预期的83-8400万美元高出300万美元多一点。尽管与收购Signal Sciences相关的一些减记对收入产生了近100万美元的影响，但增长仍然相当强劲。</blockquote></p><p> However, the company's adjusted EBITDA loss came in around $5.4 million, which was much worse than the profit of $0.8 million last year. It also should be noted that within adjusted EBITDA, the company is adding back a lot of stock compensation, to the tune of $36.6 million during the quarter. On a GAAP basis, the company's net loss was over $56 million.</p><p><blockquote>然而，该公司调整后的EBITDA亏损约为540万美元，远低于去年80万美元的利润。还应该指出的是，在调整后的EBITDA中，该公司增加了大量股票补偿，本季度达到3660万美元。按公认会计准则计算，该公司的净亏损超过5600万美元。</blockquote></p><p> Yes, investors are still more focused around the company's revenue growth potential, which I will discuss later on, but eventually FSLY will need to demonstrate a path towards consistent profitability.</p><p><blockquote>是的，投资者仍然更关注公司的收入增长潜力，我稍后将讨论这一点，但最终FSLY需要展示一条实现持续盈利的道路。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cec467a66d0ab95e9501098d2063b3a1\" tg-width=\"640\" tg-height=\"82\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p> Even when looking at the company's free cash flow metrics, only once in the past 7+ quarters have been positive. The cash burn rate remains quite large and eventually we could see the company tap the debt and/or equity market for additional liquidity.</p><p><blockquote>即使查看该公司的自由现金流指标，在过去7个多季度中也只有一次是正值。现金消耗率仍然相当大，最终我们可能会看到该公司利用债务和/或股票市场来获得额外的流动性。</blockquote></p><p> With almost $1.1 billion of cash and marketable securities combined with over $900 million of long-term debt, the company is sitting on just $200 million of net cash.</p><p><blockquote>该公司拥有近11亿美元的现金和有价证券，加上超过9亿美元的长期债务，净现金仅为2亿美元。</blockquote></p><p> On a positive note, the company continues to expand their enterprise customer base, which reached 430 customers during the quarter. Net retention rate was 112%, which improved quite a bit from the 93% reported in the year-ago period.</p><p><blockquote>从积极的方面来看，该公司继续扩大其企业客户群，本季度客户数量达到430家。净保留率为112%，较去年同期的93%有较大提高。</blockquote></p><p> However, when we look at a dollar-based net expansion rate, this came in at 118% during the quarter, down from 126% last quarter. Yes, this metric remains well above 100%, which signals continued strong growth, but the sequential slowdown may wave a slight caution flag for some investors.</p><p><blockquote>然而，当我们以美元计算的净增长率时，本季度的净增长率为118%，低于上季度的126%。是的，这一指标仍远高于100%，这表明增长持续强劲，但连续放缓可能会给一些投资者带来轻微的谨慎信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/056d4f1c73e976c2174327ad0c8ea5a6\" tg-width=\"640\" tg-height=\"191\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p></p><p> Management provided guidance for Q4 which came in a little light of expectations. Revenue is expected to be $90-93 million and was a little below consensus expectations of $94.5 million. Also, non-GAAP operating loss is expected to be $15-18 million.</p><p><blockquote>管理层为第四季度提供了指引，略低于预期。收入预计为90-9300万美元，略低于普遍预期的9450万美元。此外，非GAAP运营亏损预计为15-1800万美元。</blockquote></p><p> On top of that, the company talked about their $1 billion revenue goal by 2025. Optically, it sounds great to say the company is going to generate $1 billion of revenue. Looking at little further into this, $1 billion of revenue would represent a growth CAGR of ~30% for the next four years. Yes, this is a very strong growth rate, but the stock's valuation is already pricing in high expectations.</p><p><blockquote>最重要的是，该公司谈到了到2025年实现10亿美元的收入目标。从视觉上看，说该公司将产生10亿美元的收入听起来很棒。进一步研究一下，10亿美元的收入将意味着未来四年的复合年增长率约为30%。是的，这是一个非常强劲的增长率，但该股的估值已经反映了高预期。</blockquote></p><p> <b>Other Recent Updates</b></p><p><blockquote><b>其他近期更新</b></blockquote></p><p> Back in June, the company went through a widely publicized service outage that resulted in the company issuing credit to customers, the slowdown of existing traffic expansion, and the loss of a top 10 customer. Rumors also surfaced that Amazon(NASDAQ:AMZN)stopped using Fastly's services after the outage and it seems like the service outage impacts continue to weigh on the stock.</p><p><blockquote>早在6月份，该公司就经历了一次广为人知的服务中断，导致该公司向客户发放信贷，现有流量扩张放缓，并失去了一名前10名客户。还有传言称，亚马逊（纳斯达克股票代码：AMZN）在停电后停止使用Fastly的服务，服务停电的影响似乎继续对该股造成压力。</blockquote></p><p> During the&nbsp;conference call,management was asked about the extent to which traffic volumes have started to come back from some of these larger clients.</p><p><blockquote>在电话会议期间，管理层被问及其中一些较大客户的客流量在多大程度上开始恢复。</blockquote></p><p>   So I think, as we've said, the top customer didn't return traffic, they returned to traffic. They do continue to ramp. The larger customers, when they come back, typically ramp their traffic back over time. I don't have a specific timeline, but they are back and that will increase over time.  So while the traffic continues to ramp, it seems like it could take several quarters for the traffic to fully come back, that is if Amazon (or other larger clients) wants to come back to FSLY.</p><p><blockquote>所以我认为，正如我们所说，顶级客户没有返回流量，他们返回了流量。他们确实在继续上升。当较大的客户回来时，通常会随着时间的推移增加他们的流量。我没有一个具体的时间表，但他们回来了，而且会随着时间的推移而增加。因此，虽然流量继续增加，但如果亚马逊（或其他更大的客户）想要回到FSLY，流量似乎需要几个季度才能完全恢复。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f894336d393079f47e887e7418627c4\" tg-width=\"640\" tg-height=\"243\" width=\"100%\" height=\"auto\"><span>Source: CDN Traffic Share</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：CDN流量份额</span></p></blockquote></p><p> When looking at CDN Traffic Share, it continues to seem like Fastly has permanently lost a good chunk of their Amazon business. The charts above show the past 30-day CDN usage of Amazon, with the two primary resources being Amazon CloudFront and Akamai(NASDAQ:AKAM). Yes, Fastly is still seeing some traffic flow through their system, but they remain third on the totem pole and may have a long pathway back towards becoming a primary provider.</p><p><blockquote>从CDN流量份额来看，Fastly似乎已经永久失去了很大一部分亚马逊业务。上面的图表显示了亚马逊过去30天的CDN使用情况，两个主要资源是Amazon CloudFront和Akamai（纳斯达克：AKAM）。是的，Fastly仍然看到一些流量通过他们的系统，但他们仍然在图腾柱上排名第三，可能还有很长的路要走才能成为主要提供商。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> Given the volatile news flow over the past several months, we have seen the stock trade in quite a volatile fashion, with +/- 3% days seemingly becoming the natural stock movement. Since reporting earnings, the stock has been down around 15% and remains well below their previous all-time high around $125.</p><p><blockquote>鉴于过去几个月不稳定的消息流，我们已经看到股票交易以相当不稳定的方式进行，+/-3%的天数似乎成为股票的自然走势。自公布财报以来，该股已下跌约15%，仍远低于之前125美元左右的历史高点。</blockquote></p><p> The volatility does provide some interesting entry points for investors to make short-term money, however, I continue to believe there remains some execution risk to the stock. I have long-term confidence in the company's edge platform, but I believe valuation fully reflects long-term confidence, and investors should approach with caution.</p><p><blockquote>波动性确实为投资者提供了一些有趣的短期赚钱切入点，但是，我仍然认为该股仍然存在一些执行风险。我对公司的边缘平台有长期信心，但我认为估值充分反映了长期信心，投资者应谨慎接近。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e487598a9a605d8dce902692a2f9ceb1\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> With a current market cap of $5.3 billion and net cash of $200 million, this results in the company having an enterprise value of $5.1 billion.</p><p><blockquote>目前市值为53亿美元，净现金为2亿美元，这使得该公司的企业价值为51亿美元。</blockquote></p><p> While the company did provide a 2025 revenue target of $1 billion, we can start to view valuation in a few different ways.</p><p><blockquote>虽然该公司确实提供了2025年10亿美元的收入目标，但我们可以开始以几种不同的方式看待估值。</blockquote></p><p> First, if we assume the stock will trade at a 10x forward revenue multiple at the end of 2024 and by using the company's $1 billion revenue target, this could imply an enterprise value of $10 billion by the end of 2024. Given that we are already near the end of 2021, this would imply enterprise value growing at a ~25% CAGR through 2024.</p><p><blockquote>首先，如果我们假设该股到2024年底的预期收入倍数为10倍，并使用该公司10亿美元的收入目标，这可能意味着到2024年底企业价值将达到100亿美元。鉴于我们已经接近2021年底，这意味着到2024年，企业价值将以约25%的复合年增长率增长。</blockquote></p><p> However, this valuation method is a little challenging because in a few years, revenue growth may be below the 30% CAGR that is expected through 2025. Thus, if the company is only growing 20-25% (and assuming profitability has significantly improved), then maybe the multiple is only 8-9x forward revenue, which would imply an enterprise value growth CAGR of ~15-20% for the next few years. That's still a solid return, but at current valuation, it does not leave much room for error.</p><p><blockquote>然而，这种估值方法有点挑战性，因为几年后，收入增长可能会低于预计到2025年的30%复合年增长率。因此，如果公司仅增长20-25%（假设盈利能力显着提高），那么该倍数可能仅为预期收入的8-9倍，这意味着未来企业价值复合年增长率约为15-20%几年。这仍然是一个稳定的回报，但以目前的估值来看，它没有留下太多的误差空间。</blockquote></p><p> Another way to view valuation could be the following. Part of the $1 billion of revenue by 2025 could come from inorganic contributions, thus, the company's valuation multiple should better reflect their organic growth rate. By adding acquisitions to the equation and assuming a lower organic growth, we can still get to the company's ~30% revenue growth CAGR, but maybe the forward revenue multiple pulls back towards 5-8x. In addition, this forward revenue multiple would assume a significant expansion in profitability margins and positive free cash flow.</p><p><blockquote>另一种看待估值的方式可能如下。到2025年，10亿美元收入的一部分可能来自无机贡献，因此，该公司的估值倍数应该更好地反映其有机增长率。通过将收购添加到等式中并假设较低的有机增长，我们仍然可以实现该公司约30%的收入增长复合年增长率，但远期收入倍数可能会回落至5-8倍。此外，这一远期收入倍数将假设利润率显着扩大和正的自由现金流。</blockquote></p><p></p><p> Under this scenario, we could see the stock's enterprise value grow at 10%+ CAGR over the next few years, which does not seem overly attractive considering the current valuation and embedded execution risks.</p><p><blockquote>在这种情况下，我们可能会看到该股的企业价值在未来几年以10%以上的复合年增长率增长，考虑到当前的估值和内在的执行风险，这似乎并没有太大的吸引力。</blockquote></p><p> The stock currently trades just under 17x forward revenue as investors have confidence in the long-term trajectory. However, I continue to remain on the sidelines for now and the stock already is pricing in a strong rebound. I think a better entry point would be under $40.</p><p><blockquote>由于投资者对长期发展轨迹充满信心，该股目前的预期收益略低于17倍。然而，我目前继续保持观望，该股已经预计将强劲反弹。我认为更好的切入点应该在40美元以下。</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>Fastly: Still Remaining On The Sidelines For Now<blockquote>Fastly：目前仍保持观望</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\">\nFastly: Still Remaining On The Sidelines For Now<blockquote>Fastly：目前仍保持观望</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-11-19 20:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Fastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and negative free cash flow are starting to drain the company's liquidity.</li>  <li>Management provided weaker-than-expected Q4 guidance, though the $1 billion revenue target by 2025 optically looks nice.</li>  <li>Valuation seems to be pricing in strong growth over the coming years, and at 17x forward revenue, I remain on the sidelines waiting for a better entry point.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/142c5f2c4a4ce915516d1e3e32c7b9d2\" tg-width=\"1536\" tg-height=\"1022\" width=\"100%\" height=\"auto\"><span>Leon Neal/Getty Images News</span></p><p><blockquote><ul><li>Fastly公布的第三季度业绩好于预期，尽管持续的调整后EBITDA亏损和负自由现金流开始耗尽公司的流动性。</li><li>尽管到2025年10亿美元的收入目标看起来不错，但管理层提供的第四季度指引弱于预期。</li><li>估值似乎反映了未来几年的强劲增长，在预期收入17倍的情况下，我仍处于观望状态，等待更好的切入点。</li></ul><p class=\"t-img-caption\"><span>莱昂·尼尔/盖蒂图片社新闻</span></p></blockquote></p><p> Fastly (FSLY) reported a good Q3 earnings with revenue above expectations, though the negative adjusted EBITDA and free cash flow continue to place questions around longer-term profitability. The stock has traded down around 15% since the company's earnings release, though continues to trade at a premium 17x forward revenue multiple.</p><p><blockquote>Fastly(FSLY)公布了良好的第三季度收益，收入超出预期，尽管调整后EBITDA和自由现金流为负继续引发人们对长期盈利能力的质疑。自该公司发布财报以来，该股的交易价格已下跌约15%，但其交易价格仍较预期收入高出17倍。</blockquote></p><p> Management also provided guidance for Q4 which seemed a little soft compared to expectations. On top of that, their $1 billion revenue target by 2025 seems positive at face value and represents a 30% growth CAGR, though they did acknowledge that some growth could come from M&amp;A, meaning organic growth might be lower than 30%.</p><p><blockquote>管理层还提供了第四季度的指引，与预期相比似乎有些疲软。最重要的是，他们到2025年10亿美元的收入目标从表面上看似乎是积极的，代表着30%的复合年增长率，尽管他们确实承认一些增长可能来自并购，这意味着有机增长可能低于30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fb02c16fe105dbc0c38553ce010703d2\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> While the growth prospects have improved, I still remain on the sidelines and wait for a better entry point. I believe there remains execution risk to the growth story and even though the $1 billion revenue target seems positive, I believe investors will turn their focus towards profitability and the potential need to tap the debt and/or equity markets to fund growth given their negative free cash flows.</p><p><blockquote>虽然增长前景有所改善，但我仍然保持观望，等待更好的切入点。我认为增长故事仍然存在执行风险，尽管10亿美元的收入目标似乎是积极的，但我相信投资者将把注意力转向盈利能力，以及鉴于其负自由现金流，利用债务和/或股票市场为增长提供资金的潜在需求。</blockquote></p><p> I last wrote about FSLY in mid-September when the stock was trading around $45 and noted a better entry point would be below $40. Since then, the stock has been quite volatile, yet we are still around the same $45 level.</p><p><blockquote>我上次撰写有关FSLY的文章是在9月中旬，当时该股的交易价格约为45美元，并指出更好的切入点是低于40美元。自那以后，该股波动很大，但我们仍在45美元的水平附近。</blockquote></p><p> Fastly operates a CDN (content delivery network). In other words, that have a network of services and data centers globally distributed that makes it easier for consumers to access faster internet. Through their edge cloud platform, FSLY's infrastructure is closer to the consumer's desired destination, which increases internet response times and can reduce latency.</p><p><blockquote>Fastly运营CDN（内容交付网络）。换句话说，它拥有一个分布在全球的服务和数据中心网络，这使得消费者更容易访问更快的互联网。通过他们的边缘云平台，FSLY的基础设施更接近消费者所需的目的地，这增加了互联网响应时间并减少了延迟。</blockquote></p><p> <b>Recent Financial Review</b></p><p><blockquote><b>近期财务回顾</b></blockquote></p><p> Revenue during Q3 grew 23% to $87 million, which came in just over $3 million above expectations for $83-84 million. Even though revenue had nearly $1 million impact from some write-downs associated with their Signal Sciences acquisition, growth was still pretty strong.</p><p><blockquote>第三季度收入增长23%，达到8700万美元，比预期的83-8400万美元高出300万美元多一点。尽管与收购Signal Sciences相关的一些减记对收入产生了近100万美元的影响，但增长仍然相当强劲。</blockquote></p><p> However, the company's adjusted EBITDA loss came in around $5.4 million, which was much worse than the profit of $0.8 million last year. It also should be noted that within adjusted EBITDA, the company is adding back a lot of stock compensation, to the tune of $36.6 million during the quarter. On a GAAP basis, the company's net loss was over $56 million.</p><p><blockquote>然而，该公司调整后的EBITDA亏损约为540万美元，远低于去年80万美元的利润。还应该指出的是，在调整后的EBITDA中，该公司增加了大量股票补偿，本季度达到3660万美元。按公认会计准则计算，该公司的净亏损超过5600万美元。</blockquote></p><p> Yes, investors are still more focused around the company's revenue growth potential, which I will discuss later on, but eventually FSLY will need to demonstrate a path towards consistent profitability.</p><p><blockquote>是的，投资者仍然更关注公司的收入增长潜力，我稍后将讨论这一点，但最终FSLY需要展示一条实现持续盈利的道路。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cec467a66d0ab95e9501098d2063b3a1\" tg-width=\"640\" tg-height=\"82\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p> Even when looking at the company's free cash flow metrics, only once in the past 7+ quarters have been positive. The cash burn rate remains quite large and eventually we could see the company tap the debt and/or equity market for additional liquidity.</p><p><blockquote>即使查看该公司的自由现金流指标，在过去7个多季度中也只有一次是正值。现金消耗率仍然相当大，最终我们可能会看到该公司利用债务和/或股票市场来获得额外的流动性。</blockquote></p><p> With almost $1.1 billion of cash and marketable securities combined with over $900 million of long-term debt, the company is sitting on just $200 million of net cash.</p><p><blockquote>该公司拥有近11亿美元的现金和有价证券，加上超过9亿美元的长期债务，净现金仅为2亿美元。</blockquote></p><p> On a positive note, the company continues to expand their enterprise customer base, which reached 430 customers during the quarter. Net retention rate was 112%, which improved quite a bit from the 93% reported in the year-ago period.</p><p><blockquote>从积极的方面来看，该公司继续扩大其企业客户群，本季度客户数量达到430家。净保留率为112%，较去年同期的93%有较大提高。</blockquote></p><p> However, when we look at a dollar-based net expansion rate, this came in at 118% during the quarter, down from 126% last quarter. Yes, this metric remains well above 100%, which signals continued strong growth, but the sequential slowdown may wave a slight caution flag for some investors.</p><p><blockquote>然而，当我们以美元计算的净增长率时，本季度的净增长率为118%，低于上季度的126%。是的，这一指标仍远高于100%，这表明增长持续强劲，但连续放缓可能会给一些投资者带来轻微的谨慎信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/056d4f1c73e976c2174327ad0c8ea5a6\" tg-width=\"640\" tg-height=\"191\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p></p><p> Management provided guidance for Q4 which came in a little light of expectations. Revenue is expected to be $90-93 million and was a little below consensus expectations of $94.5 million. Also, non-GAAP operating loss is expected to be $15-18 million.</p><p><blockquote>管理层为第四季度提供了指引，略低于预期。收入预计为90-9300万美元，略低于普遍预期的9450万美元。此外，非GAAP运营亏损预计为15-1800万美元。</blockquote></p><p> On top of that, the company talked about their $1 billion revenue goal by 2025. Optically, it sounds great to say the company is going to generate $1 billion of revenue. Looking at little further into this, $1 billion of revenue would represent a growth CAGR of ~30% for the next four years. Yes, this is a very strong growth rate, but the stock's valuation is already pricing in high expectations.</p><p><blockquote>最重要的是，该公司谈到了到2025年实现10亿美元的收入目标。从视觉上看，说该公司将产生10亿美元的收入听起来很棒。进一步研究一下，10亿美元的收入将意味着未来四年的复合年增长率约为30%。是的，这是一个非常强劲的增长率，但该股的估值已经反映了高预期。</blockquote></p><p> <b>Other Recent Updates</b></p><p><blockquote><b>其他近期更新</b></blockquote></p><p> Back in June, the company went through a widely publicized service outage that resulted in the company issuing credit to customers, the slowdown of existing traffic expansion, and the loss of a top 10 customer. Rumors also surfaced that Amazon(NASDAQ:AMZN)stopped using Fastly's services after the outage and it seems like the service outage impacts continue to weigh on the stock.</p><p><blockquote>早在6月份，该公司就经历了一次广为人知的服务中断，导致该公司向客户发放信贷，现有流量扩张放缓，并失去了一名前10名客户。还有传言称，亚马逊（纳斯达克股票代码：AMZN）在停电后停止使用Fastly的服务，服务停电的影响似乎继续对该股造成压力。</blockquote></p><p> During the&nbsp;conference call,management was asked about the extent to which traffic volumes have started to come back from some of these larger clients.</p><p><blockquote>在电话会议期间，管理层被问及其中一些较大客户的客流量在多大程度上开始恢复。</blockquote></p><p>   So I think, as we've said, the top customer didn't return traffic, they returned to traffic. They do continue to ramp. The larger customers, when they come back, typically ramp their traffic back over time. I don't have a specific timeline, but they are back and that will increase over time.  So while the traffic continues to ramp, it seems like it could take several quarters for the traffic to fully come back, that is if Amazon (or other larger clients) wants to come back to FSLY.</p><p><blockquote>所以我认为，正如我们所说，顶级客户没有返回流量，他们返回了流量。他们确实在继续上升。当较大的客户回来时，通常会随着时间的推移增加他们的流量。我没有一个具体的时间表，但他们回来了，而且会随着时间的推移而增加。因此，虽然流量继续增加，但如果亚马逊（或其他更大的客户）想要回到FSLY，流量似乎需要几个季度才能完全恢复。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f894336d393079f47e887e7418627c4\" tg-width=\"640\" tg-height=\"243\" width=\"100%\" height=\"auto\"><span>Source: CDN Traffic Share</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：CDN流量份额</span></p></blockquote></p><p> When looking at CDN Traffic Share, it continues to seem like Fastly has permanently lost a good chunk of their Amazon business. The charts above show the past 30-day CDN usage of Amazon, with the two primary resources being Amazon CloudFront and Akamai(NASDAQ:AKAM). Yes, Fastly is still seeing some traffic flow through their system, but they remain third on the totem pole and may have a long pathway back towards becoming a primary provider.</p><p><blockquote>从CDN流量份额来看，Fastly似乎已经永久失去了很大一部分亚马逊业务。上面的图表显示了亚马逊过去30天的CDN使用情况，两个主要资源是Amazon CloudFront和Akamai（纳斯达克：AKAM）。是的，Fastly仍然看到一些流量通过他们的系统，但他们仍然在图腾柱上排名第三，可能还有很长的路要走才能成为主要提供商。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> Given the volatile news flow over the past several months, we have seen the stock trade in quite a volatile fashion, with +/- 3% days seemingly becoming the natural stock movement. Since reporting earnings, the stock has been down around 15% and remains well below their previous all-time high around $125.</p><p><blockquote>鉴于过去几个月不稳定的消息流，我们已经看到股票交易以相当不稳定的方式进行，+/-3%的天数似乎成为股票的自然走势。自公布财报以来，该股已下跌约15%，仍远低于之前125美元左右的历史高点。</blockquote></p><p> The volatility does provide some interesting entry points for investors to make short-term money, however, I continue to believe there remains some execution risk to the stock. I have long-term confidence in the company's edge platform, but I believe valuation fully reflects long-term confidence, and investors should approach with caution.</p><p><blockquote>波动性确实为投资者提供了一些有趣的短期赚钱切入点，但是，我仍然认为该股仍然存在一些执行风险。我对公司的边缘平台有长期信心，但我认为估值充分反映了长期信心，投资者应谨慎接近。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e487598a9a605d8dce902692a2f9ceb1\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> With a current market cap of $5.3 billion and net cash of $200 million, this results in the company having an enterprise value of $5.1 billion.</p><p><blockquote>目前市值为53亿美元，净现金为2亿美元，这使得该公司的企业价值为51亿美元。</blockquote></p><p> While the company did provide a 2025 revenue target of $1 billion, we can start to view valuation in a few different ways.</p><p><blockquote>虽然该公司确实提供了2025年10亿美元的收入目标，但我们可以开始以几种不同的方式看待估值。</blockquote></p><p> First, if we assume the stock will trade at a 10x forward revenue multiple at the end of 2024 and by using the company's $1 billion revenue target, this could imply an enterprise value of $10 billion by the end of 2024. Given that we are already near the end of 2021, this would imply enterprise value growing at a ~25% CAGR through 2024.</p><p><blockquote>首先，如果我们假设该股到2024年底的预期收入倍数为10倍，并使用该公司10亿美元的收入目标，这可能意味着到2024年底企业价值将达到100亿美元。鉴于我们已经接近2021年底，这意味着到2024年，企业价值将以约25%的复合年增长率增长。</blockquote></p><p> However, this valuation method is a little challenging because in a few years, revenue growth may be below the 30% CAGR that is expected through 2025. Thus, if the company is only growing 20-25% (and assuming profitability has significantly improved), then maybe the multiple is only 8-9x forward revenue, which would imply an enterprise value growth CAGR of ~15-20% for the next few years. That's still a solid return, but at current valuation, it does not leave much room for error.</p><p><blockquote>然而，这种估值方法有点挑战性，因为几年后，收入增长可能会低于预计到2025年的30%复合年增长率。因此，如果公司仅增长20-25%（假设盈利能力显着提高），那么该倍数可能仅为预期收入的8-9倍，这意味着未来企业价值复合年增长率约为15-20%几年。这仍然是一个稳定的回报，但以目前的估值来看，它没有留下太多的误差空间。</blockquote></p><p> Another way to view valuation could be the following. Part of the $1 billion of revenue by 2025 could come from inorganic contributions, thus, the company's valuation multiple should better reflect their organic growth rate. By adding acquisitions to the equation and assuming a lower organic growth, we can still get to the company's ~30% revenue growth CAGR, but maybe the forward revenue multiple pulls back towards 5-8x. In addition, this forward revenue multiple would assume a significant expansion in profitability margins and positive free cash flow.</p><p><blockquote>另一种看待估值的方式可能如下。到2025年，10亿美元收入的一部分可能来自无机贡献，因此，该公司的估值倍数应该更好地反映其有机增长率。通过将收购添加到等式中并假设较低的有机增长，我们仍然可以实现该公司约30%的收入增长复合年增长率，但远期收入倍数可能会回落至5-8倍。此外，这一远期收入倍数将假设利润率显着扩大和正的自由现金流。</blockquote></p><p></p><p> Under this scenario, we could see the stock's enterprise value grow at 10%+ CAGR over the next few years, which does not seem overly attractive considering the current valuation and embedded execution risks.</p><p><blockquote>在这种情况下，我们可能会看到该股的企业价值在未来几年以10%以上的复合年增长率增长，考虑到当前的估值和内在的执行风险，这似乎并没有太大的吸引力。</blockquote></p><p> The stock currently trades just under 17x forward revenue as investors have confidence in the long-term trajectory. However, I continue to remain on the sidelines for now and the stock already is pricing in a strong rebound. I think a better entry point would be under $40.</p><p><blockquote>由于投资者对长期发展轨迹充满信心，该股目前的预期收益略低于17倍。然而，我目前继续保持观望，该股已经预计将强劲反弹。我认为更好的切入点应该在40美元以下。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4470745-fastly-fsly-stock-on-the-sidelines-for-now\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSLY":"Fastly, Inc."},"source_url":"https://seekingalpha.com/article/4470745-fastly-fsly-stock-on-the-sidelines-for-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150650904","content_text":"Summary\n\nFastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and negative free cash flow are starting to drain the company's liquidity.\nManagement provided weaker-than-expected Q4 guidance, though the $1 billion revenue target by 2025 optically looks nice.\nValuation seems to be pricing in strong growth over the coming years, and at 17x forward revenue, I remain on the sidelines waiting for a better entry point.\n\nLeon Neal/Getty Images News\nFastly (FSLY) reported a good Q3 earnings with revenue above expectations, though the negative adjusted EBITDA and free cash flow continue to place questions around longer-term profitability. The stock has traded down around 15% since the company's earnings release, though continues to trade at a premium 17x forward revenue multiple.\nManagement also provided guidance for Q4 which seemed a little soft compared to expectations. On top of that, their $1 billion revenue target by 2025 seems positive at face value and represents a 30% growth CAGR, though they did acknowledge that some growth could come from M&A, meaning organic growth might be lower than 30%.\nData by YCharts\nWhile the growth prospects have improved, I still remain on the sidelines and wait for a better entry point. I believe there remains execution risk to the growth story and even though the $1 billion revenue target seems positive, I believe investors will turn their focus towards profitability and the potential need to tap the debt and/or equity markets to fund growth given their negative free cash flows.\nI last wrote about FSLY in mid-September when the stock was trading around $45 and noted a better entry point would be below $40. Since then, the stock has been quite volatile, yet we are still around the same $45 level.\nFastly operates a CDN (content delivery network). In other words, that have a network of services and data centers globally distributed that makes it easier for consumers to access faster internet. Through their edge cloud platform, FSLY's infrastructure is closer to the consumer's desired destination, which increases internet response times and can reduce latency.\nRecent Financial Review\nRevenue during Q3 grew 23% to $87 million, which came in just over $3 million above expectations for $83-84 million. Even though revenue had nearly $1 million impact from some write-downs associated with their Signal Sciences acquisition, growth was still pretty strong.\nHowever, the company's adjusted EBITDA loss came in around $5.4 million, which was much worse than the profit of $0.8 million last year. It also should be noted that within adjusted EBITDA, the company is adding back a lot of stock compensation, to the tune of $36.6 million during the quarter. On a GAAP basis, the company's net loss was over $56 million.\nYes, investors are still more focused around the company's revenue growth potential, which I will discuss later on, but eventually FSLY will need to demonstrate a path towards consistent profitability.\nSource: Company Presentation\nEven when looking at the company's free cash flow metrics, only once in the past 7+ quarters have been positive. The cash burn rate remains quite large and eventually we could see the company tap the debt and/or equity market for additional liquidity.\nWith almost $1.1 billion of cash and marketable securities combined with over $900 million of long-term debt, the company is sitting on just $200 million of net cash.\nOn a positive note, the company continues to expand their enterprise customer base, which reached 430 customers during the quarter. Net retention rate was 112%, which improved quite a bit from the 93% reported in the year-ago period.\nHowever, when we look at a dollar-based net expansion rate, this came in at 118% during the quarter, down from 126% last quarter. Yes, this metric remains well above 100%, which signals continued strong growth, but the sequential slowdown may wave a slight caution flag for some investors.\nSource: Company Presentation\nManagement provided guidance for Q4 which came in a little light of expectations. Revenue is expected to be $90-93 million and was a little below consensus expectations of $94.5 million. Also, non-GAAP operating loss is expected to be $15-18 million.\nOn top of that, the company talked about their $1 billion revenue goal by 2025. Optically, it sounds great to say the company is going to generate $1 billion of revenue. Looking at little further into this, $1 billion of revenue would represent a growth CAGR of ~30% for the next four years. Yes, this is a very strong growth rate, but the stock's valuation is already pricing in high expectations.\nOther Recent Updates\nBack in June, the company went through a widely publicized service outage that resulted in the company issuing credit to customers, the slowdown of existing traffic expansion, and the loss of a top 10 customer. Rumors also surfaced that Amazon(NASDAQ:AMZN)stopped using Fastly's services after the outage and it seems like the service outage impacts continue to weigh on the stock.\nDuring the conference call,management was asked about the extent to which traffic volumes have started to come back from some of these larger clients.\n\n So I think, as we've said, the top customer didn't return traffic, they returned to traffic. They do continue to ramp. The larger customers, when they come back, typically ramp their traffic back over time. I don't have a specific timeline, but they are back and that will increase over time.\n\nSo while the traffic continues to ramp, it seems like it could take several quarters for the traffic to fully come back, that is if Amazon (or other larger clients) wants to come back to FSLY.\nSource: CDN Traffic Share\nWhen looking at CDN Traffic Share, it continues to seem like Fastly has permanently lost a good chunk of their Amazon business. The charts above show the past 30-day CDN usage of Amazon, with the two primary resources being Amazon CloudFront and Akamai(NASDAQ:AKAM). Yes, Fastly is still seeing some traffic flow through their system, but they remain third on the totem pole and may have a long pathway back towards becoming a primary provider.\nValuation\nGiven the volatile news flow over the past several months, we have seen the stock trade in quite a volatile fashion, with +/- 3% days seemingly becoming the natural stock movement. Since reporting earnings, the stock has been down around 15% and remains well below their previous all-time high around $125.\nThe volatility does provide some interesting entry points for investors to make short-term money, however, I continue to believe there remains some execution risk to the stock. I have long-term confidence in the company's edge platform, but I believe valuation fully reflects long-term confidence, and investors should approach with caution.\nData by YCharts\nWith a current market cap of $5.3 billion and net cash of $200 million, this results in the company having an enterprise value of $5.1 billion.\nWhile the company did provide a 2025 revenue target of $1 billion, we can start to view valuation in a few different ways.\nFirst, if we assume the stock will trade at a 10x forward revenue multiple at the end of 2024 and by using the company's $1 billion revenue target, this could imply an enterprise value of $10 billion by the end of 2024. Given that we are already near the end of 2021, this would imply enterprise value growing at a ~25% CAGR through 2024.\nHowever, this valuation method is a little challenging because in a few years, revenue growth may be below the 30% CAGR that is expected through 2025. Thus, if the company is only growing 20-25% (and assuming profitability has significantly improved), then maybe the multiple is only 8-9x forward revenue, which would imply an enterprise value growth CAGR of ~15-20% for the next few years. That's still a solid return, but at current valuation, it does not leave much room for error.\nAnother way to view valuation could be the following. Part of the $1 billion of revenue by 2025 could come from inorganic contributions, thus, the company's valuation multiple should better reflect their organic growth rate. By adding acquisitions to the equation and assuming a lower organic growth, we can still get to the company's ~30% revenue growth CAGR, but maybe the forward revenue multiple pulls back towards 5-8x. In addition, this forward revenue multiple would assume a significant expansion in profitability margins and positive free cash flow.\nUnder this scenario, we could see the stock's enterprise value grow at 10%+ CAGR over the next few years, which does not seem overly attractive considering the current valuation and embedded execution risks.\nThe stock currently trades just under 17x forward revenue as investors have confidence in the long-term trajectory. However, I continue to remain on the sidelines for now and the stock already is pricing in a strong rebound. I think a better entry point would be under $40.","news_type":1,"symbols_score_info":{"FSLY":0.9}},"isVote":1,"tweetType":1,"viewCount":744,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872415194,"gmtCreate":1637559465674,"gmtModify":1637559465674,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/872415194","repostId":"2185120826","repostType":2,"isVote":1,"tweetType":1,"viewCount":1164,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876463288,"gmtCreate":1637340832306,"gmtModify":1637340832382,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Steady.. see you at 200 soon..","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Steady.. see you at 200 soon..","text":"$Novavax(NVAX)$Steady.. see you at 200 soon..","images":[{"img":"https://static.tigerbbs.com/9d44cf4917a9b62d6bbbbfe1a1568374","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876463288","isVote":1,"tweetType":1,"viewCount":728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":844750224,"gmtCreate":1636463232633,"gmtModify":1636463232745,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Thank you","listText":"Thank you","text":"Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844750224","repostId":"1127316576","repostType":2,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":849843210,"gmtCreate":1635745357700,"gmtModify":1635745357700,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/849843210","repostId":"1164035523","repostType":4,"isVote":1,"tweetType":1,"viewCount":570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":321005919,"gmtCreate":1615382569531,"gmtModify":1703488180966,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MWK\">$Mohawk Group Holdings(MWK)$</a>Going up...","listText":"<a href=\"https://laohu8.com/S/MWK\">$Mohawk Group Holdings(MWK)$</a>Going up...","text":"$Mohawk Group Holdings(MWK)$Going up...","images":[{"img":"https://static.tigerbbs.com/83af35e477a7bb9892b491c2e59dc088","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321005919","isVote":1,"tweetType":1,"viewCount":560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":323913561,"gmtCreate":1615298322153,"gmtModify":1703486935733,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3572377913685934","authorIdStr":"3572377913685934"},"themes":[],"htmlText":"<a 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true...","text":"So true...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/329101738","repostId":"1132314005","repostType":4,"repost":{"id":"1132314005","kind":"news","pubTimestamp":1615211001,"share":"https://www.laohu8.com/m/news/1132314005?lang=zh_CN&edition=full","pubTime":"2021-03-08 21:43","market":"us","language":"en","title":"How to handle market declines<blockquote>如何应对市场下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132314005","media":"Capital Group","summary":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demo","content":"<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>","source":"lsy1615210994562","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How to handle market declines<blockquote>如何应对市场下跌</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\">\nHow to handle market declines<blockquote>如何应对市场下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Capital Group</strong><span class=\"h-time small\">2021-03-08 21:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html\">Capital Group</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132314005","content_text":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.\nBut smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.\n1. Market declines are part of investing\nStocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.\n\nThe Standard & Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.\n2. Time in the market matters, not market timing\nNo one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.\nEvery S&P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.\nEven missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.\n\n3. Emotional investing can be hazardous\nKahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.\nEmotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.\n\nOne way to encourage rational investment decision-making is to understand the fundamentals of behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.\n4. Make a plan and stick to it\nCreating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.\nOne way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.\n\nRetirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.\n5. Diversification matters\nA diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.\nFor investors who want to avoid some of the stress of downturns, diversification can help lower volatility.\n\n6. Fixed income can help bring balance\nStocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.\n\nWhat’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.\nThough bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.\n7. The market tends to reward long-term investors\nIs it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.\nIt’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.\n\nIt’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":690884391,"gmtCreate":1639655122794,"gmtModify":1639655122794,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>20th Dec. D day for Novavax...","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>20th Dec. D day for Novavax...","text":"$Novavax(NVAX)$20th Dec. D day for Novavax...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/690884391","isVote":1,"tweetType":1,"viewCount":3375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":876463288,"gmtCreate":1637340832306,"gmtModify":1637340832382,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Steady.. see you at 200 soon..","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Steady.. see you at 200 soon..","text":"$Novavax(NVAX)$Steady.. see you at 200 soon..","images":[{"img":"https://static.tigerbbs.com/9d44cf4917a9b62d6bbbbfe1a1568374","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/876463288","isVote":1,"tweetType":1,"viewCount":728,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":607335352,"gmtCreate":1639487538635,"gmtModify":1639487538635,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/607335352","repostId":"1158459343","repostType":2,"repost":{"id":"1158459343","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":1639487038,"share":"https://www.laohu8.com/m/news/1158459343?lang=zh_CN&edition=full","pubTime":"2021-12-14 21:03","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1158459343","media":"Tiger Newspress","summary":"Dow futures once turned positive Tuesday morning, up slightly from overnight trading as investors se","content":"<p>Dow futures once&nbsp;turned positive Tuesday morning, up slightly from overnight trading as investors set their sights on a prolific week in Washington that includes the&nbsp;Federal Reserve's final policy-setting meeting of 2021, set to commence today, and the&nbsp;release of new prints&nbsp;on retail sales, housing starts and other economic data.</p><p><blockquote>道指期货周二上午一度转为正值，较隔夜交易小幅上涨，因为投资者将目光投向了华盛顿多产的一周，其中包括定于今天开始的美联储2021年最后一次政策制定会议，以及新数据的发布。零售销售、新屋开工和其他经济数据。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were down 4 points, or 0.01%, S&amp;P 500 e-minis were down 9 points, or 0.19%, and Nasdaq 100 e-minis were down 77.75 points, or 0.48%.<img src=\"https://static.tigerbbs.com/d555345d7d2035d7566b21ae18b684a1\" tg-width=\"1080\" tg-height=\"343\" width=\"100%\" height=\"auto\">Traders are awaiting a decision from the Fed on&nbsp;how quickly the central bank will tighten monetary policy&nbsp;amid a backdrop of fresh inflation numbers that reflected the fastest annual increase in nearly four decades. The Labor Department's Consumer Price Index (CPI) soared 6.8% in November compared to last year, according to figures published last week.</p><p><blockquote>截至美国东部时间上午8:00，道指e-mini下跌4点，跌幅0.01%，标普500 e-mini下跌9点，跌幅0.19%，纳斯达克100 e-mini下跌77.75点，跌幅0.48%。交易员正在等待美联储就央行收紧货币政策的速度做出决定，因为新的通胀数据反映了近四十年来最快的年度增幅。根据上周公布的数据，美国劳工部11月份消费者价格指数(CPI)较去年飙升6.8%。</blockquote></p><p> The Federal Open Market Committee (FOMC) is scheduled to hold its two-day policy-setting meeting starting on Tuesday, followed by the release of the monetary policy statement and remarks from Federal Reserve Chair Jerome Powell Wednesday. An updated Summary of Economic Projections outlining individual members' outlooks for economic conditions and interest rates is set to accompany the statement.</p><p><blockquote>联邦公开市场委员会（FOMC）定于周二开始举行为期两天的政策制定会议，随后美联储主席杰罗姆·鲍威尔将于周三发布货币政策声明和讲话。该声明将附有最新的经济预测摘要，概述各个成员对经济状况和利率的展望。</blockquote></p><p> The Fed has been under pressure to control rising inflation levels, as investors watch for clues of a faster taper that could set the stage for earlier rate hikes.</p><p><blockquote>美联储一直面临着控制通胀水平上升的压力，投资者正在关注更快缩减规模的线索，这可能为提前加息奠定基础。</blockquote></p><p> Markets&nbsp;await a trove of fresh economic data this week. November retail sales, out on Wednesday, are expected to rise by 0.8%, according to Bloomberg consensus estimates. And November housing starts are forecasted to see a month-over-month increase of 3.3%.</p><p><blockquote>市场等待本周大量新的经济数据。根据彭博社的普遍预测，周三公布的11月份零售额预计将增长0.8%。预计11月份新屋开工量将环比增长3.3%。</blockquote></p><p> Meanwhile, Morgan Stanley projects the U.S. unemployment rate will drop to 3% in 2022.</p><p><blockquote>与此同时，摩根士丹利预计美国失业率将在2022年降至3%。</blockquote></p><p> <b>Stocks making the biggest moves premarket: </b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/GME\">GameStop</a></b> – The videogame retailer – one of the so-called “meme” stocks – lost another 3.1% in the premarket following a nearly 14% tumble yesterday to its lowest close since March. GameStop had seen its stock slide last week after reporting a wider quarterly loss.</p><p><blockquote><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>-这家视频游戏零售商（所谓的“模因”股票之一）继昨天暴跌近14%至3月份以来的最低收盘价后，盘前又下跌3.1%。游戏驿站在报告更广泛的季度亏损后，其股价上周下跌。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a></b> – The movie theater operator’s stock slid 6% in premarket trading, after extending a losing streak to 3 days with a more than 15% plummet Monday. Last week, CEO Adam Aron sold all his holdings in AMC while CFO Sean Goodman sold the bulk of his AMC stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/AMC\">AMC院线</a></b>–这家电影院运营商的股价在盘前交易中下跌6%，周一暴跌超过15%，连续三天下跌。上周，首席执行官亚当·阿伦(Adam Aron)出售了其在AMC的所有股份，而首席财务官肖恩·古德曼(Sean Goodman)则出售了其持有的大部分AMC股票。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat, Inc.</a></b> – The maker of plant-based meat substitutes saw its stock jump 4.8% in premarket action, putting it in a position to break a 3-day losing streak. Piper Sandler upgraded the stock to “neutral” from “underweight,” saying a nationwide launch at&nbsp;McDonald’s(MCD) could happen within less than 3 months.</p><p><blockquote><b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat公司。</a></b>-这家植物性肉类替代品制造商的股价在盘前上涨4.8%，有望打破连续3天的下跌。Piper Sandler将该股评级从“跑输大盘”上调至“中性”，并表示麦当劳(MCD)可能会在不到3个月的时间内在全国范围内推出。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PFE\">Pfizer</a></b> – The drugmaker said a final study of its antiviral Covid-19 pill showed it to be 89% effective in preventing hospitalizations and deaths in high-risk patients, similar to what earlier studies had shown. It added that the drug appears to be effective against the omicron variant.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a></b>–该制药商表示，对其抗病毒Covid-19药丸的最终研究表明，它在预防高危患者住院和死亡方面的有效性为89%，与早期研究显示的结果类似。它补充说，该药物似乎对奥密克戎变种有效。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> – Tesla shares slid 1.5% in premarket trading after CEO Elon Musk sold more of his holdings to cover tax bills generated by the exercising of stock options. Tesla has dropped more than 20% from its all-time high and its overall market value has fallen back under the $1 trillion mark.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a></b>-特斯拉股价在盘前交易中下跌1.5%，此前首席执行官Elon Musk出售了更多持股以支付行使股票期权产生的税单。特斯拉较历史高点下跌逾20%，整体市值回落至1万亿美元大关以下。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WB\">Weibo</a></b> – <a href=\"https://laohu8.com/S/WB\">Weibo</a> slid 5.3% in the premarket after the China-based social networking company was fined 3 million yuan (about $471,000) by regulators, who said some of Weibo’s accounts and content violated various laws and regulations.</p><p><blockquote><b><a href=\"https://laohu8.com/S/WB\">微博</a></b>–<a href=\"https://laohu8.com/S/WB\">微博</a>这家总部位于中国的社交网络公司被监管机构罚款300万元人民币（约合47.1万美元），监管机构称微博的一些账户和内容违反了各种法律法规，盘前股价下跌5.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TMX\">Terminix Global Holdings Inc</a></b> – The pest control company’s shares soared 21.9% in the premarket after it agreed to be acquired by British rivalRentokilfor $6.7 billion in cash and stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TMX\">Terminix全球控股公司</a></b>–这家害虫防治公司同意被英国竞争对手Rentokil以67亿美元现金和股票收购后，其股价在盘前飙升21.9%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AA\">Alcoa</a></b> – The aluminum producer’s shares rallied 4.2% in premarket trading following news that the stock will be added to the S&amp;P Midcap 400 Index prior to the opening of trading next Monday. It replacesHill-Rom Holdings, which is being acquired by&nbsp;Baxter International(BAX).</p><p><blockquote><b><a href=\"https://laohu8.com/S/AA\">美国铝业</a></b>-该铝生产商的股价在盘前交易中上涨4.2%，此前有消息称该股将在下周一开盘前被纳入标准普尔中型股400指数。它取代了正在被百特国际(BAX)收购的Shill-Rom Holdings。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/DELL\">Dell Technologies Inc.</a></b> – The computer maker’s stock was downgraded to “in line” from “outperform” at Evercore, which notes Dell’s nearly 60% appreciation this year ahead of what it sees as a moderating personal computer market. Dell lost 1.7% in the premarket.</p><p><blockquote><b><a href=\"https://laohu8.com/S/DELL\">戴尔技术公司。</a></b>Evercore将这家电脑制造商的股票评级从“跑赢大盘”下调至“持平”，该公司指出，在其认为个人电脑市场放缓之前，戴尔今年的股价上涨了近60%。戴尔盘前下跌1.7%。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/RL\">Ralph Lauren</a></b> – The apparel maker slid 3% in the premarket after a Goldman Sachs double downgrade to “sell” from “buy” on the thesis that brand momentum indicators are fading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/RL\">拉尔夫·劳伦</a></b>-高盛以品牌势头指标正在消退为由，将评级从“买入”两次下调至“卖出”，该服装制造商盘前股价下跌3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NEOG\">Neogen</a></b> – The food safety company’s stock surged 12.1% in premarket trading after it announced a deal to combine itself with the food safety division of&nbsp;3M(MMM).</p><p><blockquote><b><a href=\"https://laohu8.com/S/NEOG\">新近纪</a></b>-这家食品安全公司宣布与300万（3M）食品安全部门合并后，其股价在盘前交易中飙升12.1%。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Tuesday<blockquote>周二美国市场开盘前的营收</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\">2021-12-14 21:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Dow futures once&nbsp;turned positive Tuesday morning, up slightly from overnight trading as investors set their sights on a prolific week in Washington that includes the&nbsp;Federal Reserve's final policy-setting meeting of 2021, set to commence today, and the&nbsp;release of new prints&nbsp;on retail sales, housing starts and other economic data.</p><p><blockquote>道指期货周二上午一度转为正值，较隔夜交易小幅上涨，因为投资者将目光投向了华盛顿多产的一周，其中包括定于今天开始的美联储2021年最后一次政策制定会议，以及新数据的发布。零售销售、新屋开工和其他经济数据。</blockquote></p><p> At 8:00 a.m. ET, Dow e-minis were down 4 points, or 0.01%, S&amp;P 500 e-minis were down 9 points, or 0.19%, and Nasdaq 100 e-minis were down 77.75 points, or 0.48%.<img src=\"https://static.tigerbbs.com/d555345d7d2035d7566b21ae18b684a1\" tg-width=\"1080\" tg-height=\"343\" width=\"100%\" height=\"auto\">Traders are awaiting a decision from the Fed on&nbsp;how quickly the central bank will tighten monetary policy&nbsp;amid a backdrop of fresh inflation numbers that reflected the fastest annual increase in nearly four decades. The Labor Department's Consumer Price Index (CPI) soared 6.8% in November compared to last year, according to figures published last week.</p><p><blockquote>截至美国东部时间上午8:00，道指e-mini下跌4点，跌幅0.01%，标普500 e-mini下跌9点，跌幅0.19%，纳斯达克100 e-mini下跌77.75点，跌幅0.48%。交易员正在等待美联储就央行收紧货币政策的速度做出决定，因为新的通胀数据反映了近四十年来最快的年度增幅。根据上周公布的数据，美国劳工部11月份消费者价格指数(CPI)较去年飙升6.8%。</blockquote></p><p> The Federal Open Market Committee (FOMC) is scheduled to hold its two-day policy-setting meeting starting on Tuesday, followed by the release of the monetary policy statement and remarks from Federal Reserve Chair Jerome Powell Wednesday. An updated Summary of Economic Projections outlining individual members' outlooks for economic conditions and interest rates is set to accompany the statement.</p><p><blockquote>联邦公开市场委员会（FOMC）定于周二开始举行为期两天的政策制定会议，随后美联储主席杰罗姆·鲍威尔将于周三发布货币政策声明和讲话。该声明将附有最新的经济预测摘要，概述各个成员对经济状况和利率的展望。</blockquote></p><p> The Fed has been under pressure to control rising inflation levels, as investors watch for clues of a faster taper that could set the stage for earlier rate hikes.</p><p><blockquote>美联储一直面临着控制通胀水平上升的压力，投资者正在关注更快缩减规模的线索，这可能为提前加息奠定基础。</blockquote></p><p> Markets&nbsp;await a trove of fresh economic data this week. November retail sales, out on Wednesday, are expected to rise by 0.8%, according to Bloomberg consensus estimates. And November housing starts are forecasted to see a month-over-month increase of 3.3%.</p><p><blockquote>市场等待本周大量新的经济数据。根据彭博社的普遍预测，周三公布的11月份零售额预计将增长0.8%。预计11月份新屋开工量将环比增长3.3%。</blockquote></p><p> Meanwhile, Morgan Stanley projects the U.S. unemployment rate will drop to 3% in 2022.</p><p><blockquote>与此同时，摩根士丹利预计美国失业率将在2022年降至3%。</blockquote></p><p> <b>Stocks making the biggest moves premarket: </b></p><p><blockquote><b>盘前涨幅最大的股票：</b></blockquote></p><p> <b><a href=\"https://laohu8.com/S/GME\">GameStop</a></b> – The videogame retailer – one of the so-called “meme” stocks – lost another 3.1% in the premarket following a nearly 14% tumble yesterday to its lowest close since March. GameStop had seen its stock slide last week after reporting a wider quarterly loss.</p><p><blockquote><b><a href=\"https://laohu8.com/S/GME\">游戏驿站</a></b>-这家视频游戏零售商（所谓的“模因”股票之一）继昨天暴跌近14%至3月份以来的最低收盘价后，盘前又下跌3.1%。游戏驿站在报告更广泛的季度亏损后，其股价上周下跌。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AMC\">AMC Entertainment</a></b> – The movie theater operator’s stock slid 6% in premarket trading, after extending a losing streak to 3 days with a more than 15% plummet Monday. Last week, CEO Adam Aron sold all his holdings in AMC while CFO Sean Goodman sold the bulk of his AMC stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/AMC\">AMC院线</a></b>–这家电影院运营商的股价在盘前交易中下跌6%，周一暴跌超过15%，连续三天下跌。上周，首席执行官亚当·阿伦(Adam Aron)出售了其在AMC的所有股份，而首席财务官肖恩·古德曼(Sean Goodman)则出售了其持有的大部分AMC股票。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat, Inc.</a></b> – The maker of plant-based meat substitutes saw its stock jump 4.8% in premarket action, putting it in a position to break a 3-day losing streak. Piper Sandler upgraded the stock to “neutral” from “underweight,” saying a nationwide launch at&nbsp;McDonald’s(MCD) could happen within less than 3 months.</p><p><blockquote><b><a href=\"https://laohu8.com/S/BYND\">Beyond Meat公司。</a></b>-这家植物性肉类替代品制造商的股价在盘前上涨4.8%，有望打破连续3天的下跌。Piper Sandler将该股评级从“跑输大盘”上调至“中性”，并表示麦当劳(MCD)可能会在不到3个月的时间内在全国范围内推出。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/PFE\">Pfizer</a></b> – The drugmaker said a final study of its antiviral Covid-19 pill showed it to be 89% effective in preventing hospitalizations and deaths in high-risk patients, similar to what earlier studies had shown. It added that the drug appears to be effective against the omicron variant.</p><p><blockquote><b><a href=\"https://laohu8.com/S/PFE\">辉瑞</a></b>–该制药商表示，对其抗病毒Covid-19药丸的最终研究表明，它在预防高危患者住院和死亡方面的有效性为89%，与早期研究显示的结果类似。它补充说，该药物似乎对奥密克戎变种有效。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TSLA\">Tesla Motors</a></b> – Tesla shares slid 1.5% in premarket trading after CEO Elon Musk sold more of his holdings to cover tax bills generated by the exercising of stock options. Tesla has dropped more than 20% from its all-time high and its overall market value has fallen back under the $1 trillion mark.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TSLA\">特斯拉</a></b>-特斯拉股价在盘前交易中下跌1.5%，此前首席执行官Elon Musk出售了更多持股以支付行使股票期权产生的税单。特斯拉较历史高点下跌逾20%，整体市值回落至1万亿美元大关以下。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/WB\">Weibo</a></b> – <a href=\"https://laohu8.com/S/WB\">Weibo</a> slid 5.3% in the premarket after the China-based social networking company was fined 3 million yuan (about $471,000) by regulators, who said some of Weibo’s accounts and content violated various laws and regulations.</p><p><blockquote><b><a href=\"https://laohu8.com/S/WB\">微博</a></b>–<a href=\"https://laohu8.com/S/WB\">微博</a>这家总部位于中国的社交网络公司被监管机构罚款300万元人民币（约合47.1万美元），监管机构称微博的一些账户和内容违反了各种法律法规，盘前股价下跌5.3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/TMX\">Terminix Global Holdings Inc</a></b> – The pest control company’s shares soared 21.9% in the premarket after it agreed to be acquired by British rivalRentokilfor $6.7 billion in cash and stock.</p><p><blockquote><b><a href=\"https://laohu8.com/S/TMX\">Terminix全球控股公司</a></b>–这家害虫防治公司同意被英国竞争对手Rentokil以67亿美元现金和股票收购后，其股价在盘前飙升21.9%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/AA\">Alcoa</a></b> – The aluminum producer’s shares rallied 4.2% in premarket trading following news that the stock will be added to the S&amp;P Midcap 400 Index prior to the opening of trading next Monday. It replacesHill-Rom Holdings, which is being acquired by&nbsp;Baxter International(BAX).</p><p><blockquote><b><a href=\"https://laohu8.com/S/AA\">美国铝业</a></b>-该铝生产商的股价在盘前交易中上涨4.2%，此前有消息称该股将在下周一开盘前被纳入标准普尔中型股400指数。它取代了正在被百特国际(BAX)收购的Shill-Rom Holdings。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/DELL\">Dell Technologies Inc.</a></b> – The computer maker’s stock was downgraded to “in line” from “outperform” at Evercore, which notes Dell’s nearly 60% appreciation this year ahead of what it sees as a moderating personal computer market. Dell lost 1.7% in the premarket.</p><p><blockquote><b><a href=\"https://laohu8.com/S/DELL\">戴尔技术公司。</a></b>Evercore将这家电脑制造商的股票评级从“跑赢大盘”下调至“持平”，该公司指出，在其认为个人电脑市场放缓之前，戴尔今年的股价上涨了近60%。戴尔盘前下跌1.7%。</blockquote></p><p></p><p> <b><a href=\"https://laohu8.com/S/RL\">Ralph Lauren</a></b> – The apparel maker slid 3% in the premarket after a Goldman Sachs double downgrade to “sell” from “buy” on the thesis that brand momentum indicators are fading.</p><p><blockquote><b><a href=\"https://laohu8.com/S/RL\">拉尔夫·劳伦</a></b>-高盛以品牌势头指标正在消退为由，将评级从“买入”两次下调至“卖出”，该服装制造商盘前股价下跌3%。</blockquote></p><p> <b><a href=\"https://laohu8.com/S/NEOG\">Neogen</a></b> – The food safety company’s stock surged 12.1% in premarket trading after it announced a deal to combine itself with the food safety division of&nbsp;3M(MMM).</p><p><blockquote><b><a href=\"https://laohu8.com/S/NEOG\">新近纪</a></b>-这家食品安全公司宣布与300万（3M）食品安全部门合并后，其股价在盘前交易中飙升12.1%。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1158459343","content_text":"Dow futures once turned positive Tuesday morning, up slightly from overnight trading as investors set their sights on a prolific week in Washington that includes the Federal Reserve's final policy-setting meeting of 2021, set to commence today, and the release of new prints on retail sales, housing starts and other economic data.\nAt 8:00 a.m. ET, Dow e-minis were down 4 points, or 0.01%, S&P 500 e-minis were down 9 points, or 0.19%, and Nasdaq 100 e-minis were down 77.75 points, or 0.48%.Traders are awaiting a decision from the Fed on how quickly the central bank will tighten monetary policy amid a backdrop of fresh inflation numbers that reflected the fastest annual increase in nearly four decades. The Labor Department's Consumer Price Index (CPI) soared 6.8% in November compared to last year, according to figures published last week.\nThe Federal Open Market Committee (FOMC) is scheduled to hold its two-day policy-setting meeting starting on Tuesday, followed by the release of the monetary policy statement and remarks from Federal Reserve Chair Jerome Powell Wednesday. An updated Summary of Economic Projections outlining individual members' outlooks for economic conditions and interest rates is set to accompany the statement.\nThe Fed has been under pressure to control rising inflation levels, as investors watch for clues of a faster taper that could set the stage for earlier rate hikes.\nMarkets await a trove of fresh economic data this week. November retail sales, out on Wednesday, are expected to rise by 0.8%, according to Bloomberg consensus estimates. And November housing starts are forecasted to see a month-over-month increase of 3.3%.\nMeanwhile, Morgan Stanley projects the U.S. unemployment rate will drop to 3% in 2022.\nStocks making the biggest moves premarket: \nGameStop – The videogame retailer – one of the so-called “meme” stocks – lost another 3.1% in the premarket following a nearly 14% tumble yesterday to its lowest close since March. GameStop had seen its stock slide last week after reporting a wider quarterly loss.\nAMC Entertainment – The movie theater operator’s stock slid 6% in premarket trading, after extending a losing streak to 3 days with a more than 15% plummet Monday. Last week, CEO Adam Aron sold all his holdings in AMC while CFO Sean Goodman sold the bulk of his AMC stock.\nBeyond Meat, Inc. – The maker of plant-based meat substitutes saw its stock jump 4.8% in premarket action, putting it in a position to break a 3-day losing streak. Piper Sandler upgraded the stock to “neutral” from “underweight,” saying a nationwide launch at McDonald’s(MCD) could happen within less than 3 months.\nPfizer – The drugmaker said a final study of its antiviral Covid-19 pill showed it to be 89% effective in preventing hospitalizations and deaths in high-risk patients, similar to what earlier studies had shown. It added that the drug appears to be effective against the omicron variant.\nTesla Motors – Tesla shares slid 1.5% in premarket trading after CEO Elon Musk sold more of his holdings to cover tax bills generated by the exercising of stock options. Tesla has dropped more than 20% from its all-time high and its overall market value has fallen back under the $1 trillion mark.\nWeibo – Weibo slid 5.3% in the premarket after the China-based social networking company was fined 3 million yuan (about $471,000) by regulators, who said some of Weibo’s accounts and content violated various laws and regulations.\nTerminix Global Holdings Inc – The pest control company’s shares soared 21.9% in the premarket after it agreed to be acquired by British rivalRentokilfor $6.7 billion in cash and stock.\nAlcoa – The aluminum producer’s shares rallied 4.2% in premarket trading following news that the stock will be added to the S&P Midcap 400 Index prior to the opening of trading next Monday. It replacesHill-Rom Holdings, which is being acquired by Baxter International(BAX).\nDell Technologies Inc. – The computer maker’s stock was downgraded to “in line” from “outperform” at Evercore, which notes Dell’s nearly 60% appreciation this year ahead of what it sees as a moderating personal computer market. Dell lost 1.7% in the premarket.\nRalph Lauren – The apparel maker slid 3% in the premarket after a Goldman Sachs double downgrade to “sell” from “buy” on the thesis that brand momentum indicators are fading.\nNeogen – The food safety company’s stock surged 12.1% in premarket trading after it announced a deal to combine itself with the food safety division of 3M(MMM).","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":2589,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875656813,"gmtCreate":1637648077852,"gmtModify":1637648077852,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Be patient..&nbsp;","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Be patient..&nbsp;","text":"$Novavax(NVAX)$Be patient..","images":[{"img":"https://static.tigerbbs.com/97a44db525b2320daaa634daa7eb5418","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875656813","isVote":1,"tweetType":1,"viewCount":1002,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":849843210,"gmtCreate":1635745357700,"gmtModify":1635745357700,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"Thanks","listText":"Thanks","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/849843210","repostId":"1164035523","repostType":4,"repost":{"id":"1164035523","kind":"news","pubTimestamp":1635736469,"share":"https://www.laohu8.com/m/news/1164035523?lang=zh_CN&edition=full","pubTime":"2021-11-01 11:14","market":"us","language":"en","title":"2 Growth Stocks That Could Deliver 1,000% Returns<blockquote>2只可带来1,000%回报的成长型股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1164035523","media":"Motley Fool","summary":"Thanks to the ongoing innovation revolutions in both the tech and healthcare sectors, shareholders h","content":"<p>Thanks to the ongoing innovation revolutions in both the tech and healthcare sectors, shareholders have been enjoying historic returns on capital over the past decade. For example, the central nervous system disorder drug specialist&nbsp;<b>Axsome Therapeutics</b>, the cancer specialist&nbsp;<b>Exelixis</b>, and the electric car pioneer&nbsp;<b>Tesla</b>&nbsp;have all delivered tenfold returns for investors who bought these names at their low points.</p><p><blockquote>由于科技和医疗保健领域持续的创新革命，股东在过去十年中一直享受着历史性的资本回报。例如，中枢神经系统疾病药物专家<b>轴体疗法</b>，癌症专家<b>Exelixis</b>，以及电动汽车先驱<b>特斯拉</b>都为在低点买入这些股票的投资者带来了十倍的回报。</blockquote></p><p> Which stocks might be the next Axsome, Exelixis, or Tesla from a growth standpoint? The cancer/rare disease specialist&nbsp;<b>Mereo BioPharma Group</b>(NASDAQ:MREO)and the diabetes-focused medical device company&nbsp;<b>Senseonics Holdings</b>(NYSEMKT:SENS)could both be gearing up for a monstrous run higher soon. In fact, these two low-priced&nbsp;healthcare stocks&nbsp;have a decent shot at generating 1,000%-plus returns for their shareholders within the next two to three years.</p><p><blockquote>从增长的角度来看，哪些股票可能成为下一个Axsome、Exelixis或特斯拉？癌症/罕见病专家<b>Mereo生物制药集团</b>（纳斯达克：MREO）和专注于糖尿病的医疗器械公司<b>Senseonics控股</b>(NYSEMKT：SENS)两者都可能很快就会为大幅走高做准备。事实上，这两只低价医疗保健股很有可能在未来两到三年内为股东带来1,000%以上的回报。</blockquote></p><p> Here's a brief overview on the risks and potential rewards associated with each of these promising growth vehicles.</p><p><blockquote>以下是与这些有前途的增长工具相关的风险和潜在回报的简要概述。</blockquote></p><p> <b>Mereo BioPharma: A bet on the future of immunotherapy</b></p><p><blockquote><b>Mereo BioPharma：押注免疫疗法的未来</b></blockquote></p><p> The London-based biopharma Mereo hasn't exactly set the world on fire since its American depository shares (ADS) made their debut on the Nasdaq stock exchange. Keeping with this theme, the biotech's ADSes have lost approximately 65% of their value since April 2019. This steady downward trend shouldn't scare away aggressive investors, however. Mereo's plunging share price, after all, is more about Mr. Market's well-known impatience with clinical-stage biotechs, rather than the company's underlying value proposition.</p><p><blockquote>自其美国存托股票(ADS)在纳斯达克证券交易所首次亮相以来，总部位于伦敦的生物制药公司Mereo并没有真正引起轰动。与这一主题保持一致，自2019年4月以来，该生物技术公司的ADSE已损失约65%的价值。然而，这种稳定的下降趋势不应吓跑激进的投资者。毕竟，Mereo股价暴跌更多的是市场先生对临床阶段生物技术众所周知的不耐烦，而不是该公司的潜在价值主张。</blockquote></p><p> What's the scoop? Mereo is a small-cap company with six assets under development for both cancer and rare diseases. However, the one drug candidate that could undoubtedly send the company's shares rocketing higher is the&nbsp;anti-TIGIT therapy&nbsp;known as etigilimab. Several major drug companies, such as&nbsp;<b>BeiGene</b>,<b>Bristol Myers Squibb</b>,<b>Merck</b>, and&nbsp;<b>Roche</b>, have anti-TIGIT therapies under development due to their potential to boost the efficacy and durability of cancer immunotherapy treatments in general. Mereo's etigilimab is currently in a combined phase 1/2 basket study to evaluate its utility as part of combination treament, along with Bristol's megablockbuster checkpoint inhibitor Opdivo, for a variety of solid tumors.</p><p><blockquote>有什么独家新闻？Mereo是一家小型公司，拥有六项正在开发的癌症和罕见疾病资产。然而，一种无疑可能推动该公司股价飙升的候选药物是名为etigilimab的抗TIGIT疗法。几大药企，如<b>百济神州</b>,<b>百时美施贵宝</b>,<b>默克</b>，和<b>罗氏</b>由于抗TIGIT疗法通常具有增强癌症免疫疗法的功效和持久性的潜力，因此正在开发抗TIGIT疗法。Mereo的etigilimab目前正在进行一项联合1/2期篮子研究，以评估其作为联合治疗的一部分，与Bristol的megablockbuster检查点抑制剂Opdivo一起用于多种实体瘤。</blockquote></p><p> As things stand now, Mereo's anti-TIGIT candidate is slated to yield top-line data from this basket trial in approximately 18-months from now. During this lengthy interval, however, the drugmaker ought to provide multiple updates on etigilimab's progress, which could turn out to be a series of major catalysts for its share price in the coming months. Another bit of good news is that Mereo's cash runway reportedly extends into 2024. That's key, because it means that the biotech shouldn't have to repeatly tap the public markets for capital over the next year and a half.</p><p><blockquote>就目前情况而言，Mereo的抗TIGIT候选药物预计将在大约18个月后从这项篮子试验中产生顶线数据。然而，在这段漫长的时间间隔内，该制药商应该提供有关etigilimab进展的多项最新信息，这可能会成为未来几个月其股价的一系列主要催化剂。另一个好消息是，据报道Mereo的现金跑道将延伸至2024年。这是关键，因为这意味着生物技术公司不应该在未来一年半内反复利用公开市场获取资本。</blockquote></p><p> What's the downside risk? Mereo's management team has been open about its desire to partner with larger biopharmas. Etigilimab, for its part, could spark either a high dollar licensing agreement or a full-on buyout within the next two years. So a lot is riding on this single experimental drug. Unfortunately, early stage cancer therapies fail more often than not in the clinic. As a failure in this case would weigh heavily on the biotech's share price, potential investors may want to keep any initial position on the small side.</p><p><blockquote>下行风险是什么？Mereo的管理团队一直公开表示希望与大型生物制药公司合作。就Etigilimab而言，它可能会在未来两年内引发高额许可协议或全面收购。所以很大程度上取决于这种单一的实验药物。不幸的是，早期癌症疗法在临床上经常失败。由于这种情况下的失败将严重影响生物技术公司的股价，潜在投资者可能希望将初始头寸保持在较小的水平。</blockquote></p><p> <b>Senseonic: A rising tide lifts all boats</b></p><p><blockquote><b>Senseonic：水涨船高</b></blockquote></p><p> Senseonics' stock is worth a look by ultra-aggressive investors due to its implantable continuous glucose monitoring (CGM) device franchise known as Eversense. The lowdown is that the CGM market has been growing by over 10%&nbsp;<i>per year</i>&nbsp;over the past five years, according to a report by Grand View Research. What's more, this space is forecast to grow by at least 10% per year over the next five years. That's definitely a favorable trend for a small-cap CGM player like Senseonics.</p><p><blockquote>Senseonics的股票值得超级激进的投资者关注，因为它拥有名为Eversense的植入式连续血糖监测(CGM)设备专营权。真相是CGM市场增长超过10%<i>每年</i>根据Grand View Research的一份报告，在过去五年中。更重要的是，该领域预计在未来五年内每年至少增长10%。对于像Senseonics这样的小型CGM参与者来说，这绝对是一个有利的趋势。</blockquote></p><p> So far, Senseonics has only captured a&nbsp;small sliver&nbsp;of this multi-billion dollar medical device market with its Eversense franchise. But the company is hoping to drastically improve its competitive positioning with a potential regulatory approval by the Food and Drug Administration (FDA) for its 180-day version of the Eversense CGM system. The medical device company&nbsp;submitteda regulatory application to the FDA for this proposed product over a year ago. So a decision could come any day now.</p><p><blockquote>到目前为止，Senseonics仅凭借其Eversense特许经营权占领了这个价值数十亿美元的医疗设备市场的一小部分。但该公司希望通过食品和药物管理局(FDA)对其180天版本的Eversense CGM系统的潜在监管批准来大幅提高其竞争地位。该医疗器械公司一年多前就该拟议产品向FDA提交了监管申请。所以现在随时都可能做出决定。</blockquote></p><p></p><p> Why does this FDA approval matter? Senseonics' internal projections have the company's top-line rising at a compound annual growth rate of over 70% over the next five years as a result of this key regulatory nod. The long and short of it is that the current 90-day Eversense CGM system isn't particularly competitive in the U.S. against the market-leading devices from&nbsp;<b>DexCom</b>&nbsp;and&nbsp;<b>Abbott Laboratories</b>, respectively. But this longer-lasting version of the device could cause sales to skyrocket in the coming years.</p><p><blockquote>为什么FDA的批准很重要？Senseonics的内部预测显示，由于这一关键的监管批准，该公司的营收在未来五年内将以超过70%的复合年增长率增长。总而言之，目前的90天Eversense CGM系统在美国与市场领先的设备相比并没有特别的竞争力<b>DexCom</b>和<b>雅培实验室</b>，分别。但这种更耐用的设备版本可能会在未来几年导致销量飙升。</blockquote></p><p> What's the risk? Senseonics is competing in a jam-packed space against a number of well-capitalized medical-device giants. So there is a chance that this long-awaited FDA approval won't spark a parabolic rise in sales. That's not a knock against Senseonics' CGM system, but rather the harsh reality of competing against healthcare companies with vastly superior resources. Investors shouldn't ignore this potential risk factor.</p><p><blockquote>有什么风险？Senseonics正在拥挤的空间中与许多资本雄厚的医疗设备巨头竞争。因此，这一期待已久的FDA批准有可能不会引发销售额的抛物线增长。这并不是对Senseonics CGM系统的打击，而是与拥有极其优越资源的医疗保健公司竞争的残酷现实。投资者不应忽视这一潜在的风险因素。</blockquote></p><p> All told, Senseonics could be on the verge of a game-changing regulatory event that might prove to be a key inflection point for the company's CGM franchise. If true, this medical device company's stock should turn out to be a downright bargain at these levels.</p><p><blockquote>总而言之，Senseonics可能正处于改变游戏规则的监管事件的边缘，这可能会成为该公司CGM特许经营权的一个关键转折点。如果属实，这家医疗器械公司的股票在这些水平上应该会非常便宜。</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>2 Growth Stocks That Could Deliver 1,000% Returns<blockquote>2只可带来1,000%回报的成长型股票</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\">\n2 Growth Stocks That Could Deliver 1,000% Returns<blockquote>2只可带来1,000%回报的成长型股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-11-01 11:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Thanks to the ongoing innovation revolutions in both the tech and healthcare sectors, shareholders have been enjoying historic returns on capital over the past decade. For example, the central nervous system disorder drug specialist&nbsp;<b>Axsome Therapeutics</b>, the cancer specialist&nbsp;<b>Exelixis</b>, and the electric car pioneer&nbsp;<b>Tesla</b>&nbsp;have all delivered tenfold returns for investors who bought these names at their low points.</p><p><blockquote>由于科技和医疗保健领域持续的创新革命，股东在过去十年中一直享受着历史性的资本回报。例如，中枢神经系统疾病药物专家<b>轴体疗法</b>，癌症专家<b>Exelixis</b>，以及电动汽车先驱<b>特斯拉</b>都为在低点买入这些股票的投资者带来了十倍的回报。</blockquote></p><p> Which stocks might be the next Axsome, Exelixis, or Tesla from a growth standpoint? The cancer/rare disease specialist&nbsp;<b>Mereo BioPharma Group</b>(NASDAQ:MREO)and the diabetes-focused medical device company&nbsp;<b>Senseonics Holdings</b>(NYSEMKT:SENS)could both be gearing up for a monstrous run higher soon. In fact, these two low-priced&nbsp;healthcare stocks&nbsp;have a decent shot at generating 1,000%-plus returns for their shareholders within the next two to three years.</p><p><blockquote>从增长的角度来看，哪些股票可能成为下一个Axsome、Exelixis或特斯拉？癌症/罕见病专家<b>Mereo生物制药集团</b>（纳斯达克：MREO）和专注于糖尿病的医疗器械公司<b>Senseonics控股</b>(NYSEMKT：SENS)两者都可能很快就会为大幅走高做准备。事实上，这两只低价医疗保健股很有可能在未来两到三年内为股东带来1,000%以上的回报。</blockquote></p><p> Here's a brief overview on the risks and potential rewards associated with each of these promising growth vehicles.</p><p><blockquote>以下是与这些有前途的增长工具相关的风险和潜在回报的简要概述。</blockquote></p><p> <b>Mereo BioPharma: A bet on the future of immunotherapy</b></p><p><blockquote><b>Mereo BioPharma：押注免疫疗法的未来</b></blockquote></p><p> The London-based biopharma Mereo hasn't exactly set the world on fire since its American depository shares (ADS) made their debut on the Nasdaq stock exchange. Keeping with this theme, the biotech's ADSes have lost approximately 65% of their value since April 2019. This steady downward trend shouldn't scare away aggressive investors, however. Mereo's plunging share price, after all, is more about Mr. Market's well-known impatience with clinical-stage biotechs, rather than the company's underlying value proposition.</p><p><blockquote>自其美国存托股票(ADS)在纳斯达克证券交易所首次亮相以来，总部位于伦敦的生物制药公司Mereo并没有真正引起轰动。与这一主题保持一致，自2019年4月以来，该生物技术公司的ADSE已损失约65%的价值。然而，这种稳定的下降趋势不应吓跑激进的投资者。毕竟，Mereo股价暴跌更多的是市场先生对临床阶段生物技术众所周知的不耐烦，而不是该公司的潜在价值主张。</blockquote></p><p> What's the scoop? Mereo is a small-cap company with six assets under development for both cancer and rare diseases. However, the one drug candidate that could undoubtedly send the company's shares rocketing higher is the&nbsp;anti-TIGIT therapy&nbsp;known as etigilimab. Several major drug companies, such as&nbsp;<b>BeiGene</b>,<b>Bristol Myers Squibb</b>,<b>Merck</b>, and&nbsp;<b>Roche</b>, have anti-TIGIT therapies under development due to their potential to boost the efficacy and durability of cancer immunotherapy treatments in general. Mereo's etigilimab is currently in a combined phase 1/2 basket study to evaluate its utility as part of combination treament, along with Bristol's megablockbuster checkpoint inhibitor Opdivo, for a variety of solid tumors.</p><p><blockquote>有什么独家新闻？Mereo是一家小型公司，拥有六项正在开发的癌症和罕见疾病资产。然而，一种无疑可能推动该公司股价飙升的候选药物是名为etigilimab的抗TIGIT疗法。几大药企，如<b>百济神州</b>,<b>百时美施贵宝</b>,<b>默克</b>，和<b>罗氏</b>由于抗TIGIT疗法通常具有增强癌症免疫疗法的功效和持久性的潜力，因此正在开发抗TIGIT疗法。Mereo的etigilimab目前正在进行一项联合1/2期篮子研究，以评估其作为联合治疗的一部分，与Bristol的megablockbuster检查点抑制剂Opdivo一起用于多种实体瘤。</blockquote></p><p> As things stand now, Mereo's anti-TIGIT candidate is slated to yield top-line data from this basket trial in approximately 18-months from now. During this lengthy interval, however, the drugmaker ought to provide multiple updates on etigilimab's progress, which could turn out to be a series of major catalysts for its share price in the coming months. Another bit of good news is that Mereo's cash runway reportedly extends into 2024. That's key, because it means that the biotech shouldn't have to repeatly tap the public markets for capital over the next year and a half.</p><p><blockquote>就目前情况而言，Mereo的抗TIGIT候选药物预计将在大约18个月后从这项篮子试验中产生顶线数据。然而，在这段漫长的时间间隔内，该制药商应该提供有关etigilimab进展的多项最新信息，这可能会成为未来几个月其股价的一系列主要催化剂。另一个好消息是，据报道Mereo的现金跑道将延伸至2024年。这是关键，因为这意味着生物技术公司不应该在未来一年半内反复利用公开市场获取资本。</blockquote></p><p> What's the downside risk? Mereo's management team has been open about its desire to partner with larger biopharmas. Etigilimab, for its part, could spark either a high dollar licensing agreement or a full-on buyout within the next two years. So a lot is riding on this single experimental drug. Unfortunately, early stage cancer therapies fail more often than not in the clinic. As a failure in this case would weigh heavily on the biotech's share price, potential investors may want to keep any initial position on the small side.</p><p><blockquote>下行风险是什么？Mereo的管理团队一直公开表示希望与大型生物制药公司合作。就Etigilimab而言，它可能会在未来两年内引发高额许可协议或全面收购。所以很大程度上取决于这种单一的实验药物。不幸的是，早期癌症疗法在临床上经常失败。由于这种情况下的失败将严重影响生物技术公司的股价，潜在投资者可能希望将初始头寸保持在较小的水平。</blockquote></p><p> <b>Senseonic: A rising tide lifts all boats</b></p><p><blockquote><b>Senseonic：水涨船高</b></blockquote></p><p> Senseonics' stock is worth a look by ultra-aggressive investors due to its implantable continuous glucose monitoring (CGM) device franchise known as Eversense. The lowdown is that the CGM market has been growing by over 10%&nbsp;<i>per year</i>&nbsp;over the past five years, according to a report by Grand View Research. What's more, this space is forecast to grow by at least 10% per year over the next five years. That's definitely a favorable trend for a small-cap CGM player like Senseonics.</p><p><blockquote>Senseonics的股票值得超级激进的投资者关注，因为它拥有名为Eversense的植入式连续血糖监测(CGM)设备专营权。真相是CGM市场增长超过10%<i>每年</i>根据Grand View Research的一份报告，在过去五年中。更重要的是，该领域预计在未来五年内每年至少增长10%。对于像Senseonics这样的小型CGM参与者来说，这绝对是一个有利的趋势。</blockquote></p><p> So far, Senseonics has only captured a&nbsp;small sliver&nbsp;of this multi-billion dollar medical device market with its Eversense franchise. But the company is hoping to drastically improve its competitive positioning with a potential regulatory approval by the Food and Drug Administration (FDA) for its 180-day version of the Eversense CGM system. The medical device company&nbsp;submitteda regulatory application to the FDA for this proposed product over a year ago. So a decision could come any day now.</p><p><blockquote>到目前为止，Senseonics仅凭借其Eversense特许经营权占领了这个价值数十亿美元的医疗设备市场的一小部分。但该公司希望通过食品和药物管理局(FDA)对其180天版本的Eversense CGM系统的潜在监管批准来大幅提高其竞争地位。该医疗器械公司一年多前就该拟议产品向FDA提交了监管申请。所以现在随时都可能做出决定。</blockquote></p><p></p><p> Why does this FDA approval matter? Senseonics' internal projections have the company's top-line rising at a compound annual growth rate of over 70% over the next five years as a result of this key regulatory nod. The long and short of it is that the current 90-day Eversense CGM system isn't particularly competitive in the U.S. against the market-leading devices from&nbsp;<b>DexCom</b>&nbsp;and&nbsp;<b>Abbott Laboratories</b>, respectively. But this longer-lasting version of the device could cause sales to skyrocket in the coming years.</p><p><blockquote>为什么FDA的批准很重要？Senseonics的内部预测显示，由于这一关键的监管批准，该公司的营收在未来五年内将以超过70%的复合年增长率增长。总而言之，目前的90天Eversense CGM系统在美国与市场领先的设备相比并没有特别的竞争力<b>DexCom</b>和<b>雅培实验室</b>，分别。但这种更耐用的设备版本可能会在未来几年导致销量飙升。</blockquote></p><p> What's the risk? Senseonics is competing in a jam-packed space against a number of well-capitalized medical-device giants. So there is a chance that this long-awaited FDA approval won't spark a parabolic rise in sales. That's not a knock against Senseonics' CGM system, but rather the harsh reality of competing against healthcare companies with vastly superior resources. Investors shouldn't ignore this potential risk factor.</p><p><blockquote>有什么风险？Senseonics正在拥挤的空间中与许多资本雄厚的医疗设备巨头竞争。因此，这一期待已久的FDA批准有可能不会引发销售额的抛物线增长。这并不是对Senseonics CGM系统的打击，而是与拥有极其优越资源的医疗保健公司竞争的残酷现实。投资者不应忽视这一潜在的风险因素。</blockquote></p><p> All told, Senseonics could be on the verge of a game-changing regulatory event that might prove to be a key inflection point for the company's CGM franchise. If true, this medical device company's stock should turn out to be a downright bargain at these levels.</p><p><blockquote>总而言之，Senseonics可能正处于改变游戏规则的监管事件的边缘，这可能会成为该公司CGM特许经营权的一个关键转折点。如果属实，这家医疗器械公司的股票在这些水平上应该会非常便宜。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/10/31/2-growth-stocks-that-could-deliver-1000-returns/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MREO":"Mereo Biopharma Group Plc","SENS":"Senseonics Holdings,Inc."},"source_url":"https://www.fool.com/investing/2021/10/31/2-growth-stocks-that-could-deliver-1000-returns/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164035523","content_text":"Thanks to the ongoing innovation revolutions in both the tech and healthcare sectors, shareholders have been enjoying historic returns on capital over the past decade. For example, the central nervous system disorder drug specialist Axsome Therapeutics, the cancer specialist Exelixis, and the electric car pioneer Tesla have all delivered tenfold returns for investors who bought these names at their low points.\nWhich stocks might be the next Axsome, Exelixis, or Tesla from a growth standpoint? The cancer/rare disease specialist Mereo BioPharma Group(NASDAQ:MREO)and the diabetes-focused medical device company Senseonics Holdings(NYSEMKT:SENS)could both be gearing up for a monstrous run higher soon. In fact, these two low-priced healthcare stocks have a decent shot at generating 1,000%-plus returns for their shareholders within the next two to three years.\nHere's a brief overview on the risks and potential rewards associated with each of these promising growth vehicles.\nMereo BioPharma: A bet on the future of immunotherapy\nThe London-based biopharma Mereo hasn't exactly set the world on fire since its American depository shares (ADS) made their debut on the Nasdaq stock exchange. Keeping with this theme, the biotech's ADSes have lost approximately 65% of their value since April 2019. This steady downward trend shouldn't scare away aggressive investors, however. Mereo's plunging share price, after all, is more about Mr. Market's well-known impatience with clinical-stage biotechs, rather than the company's underlying value proposition.\nWhat's the scoop? Mereo is a small-cap company with six assets under development for both cancer and rare diseases. However, the one drug candidate that could undoubtedly send the company's shares rocketing higher is the anti-TIGIT therapy known as etigilimab. Several major drug companies, such as BeiGene,Bristol Myers Squibb,Merck, and Roche, have anti-TIGIT therapies under development due to their potential to boost the efficacy and durability of cancer immunotherapy treatments in general. Mereo's etigilimab is currently in a combined phase 1/2 basket study to evaluate its utility as part of combination treament, along with Bristol's megablockbuster checkpoint inhibitor Opdivo, for a variety of solid tumors.\nAs things stand now, Mereo's anti-TIGIT candidate is slated to yield top-line data from this basket trial in approximately 18-months from now. During this lengthy interval, however, the drugmaker ought to provide multiple updates on etigilimab's progress, which could turn out to be a series of major catalysts for its share price in the coming months. Another bit of good news is that Mereo's cash runway reportedly extends into 2024. That's key, because it means that the biotech shouldn't have to repeatly tap the public markets for capital over the next year and a half.\nWhat's the downside risk? Mereo's management team has been open about its desire to partner with larger biopharmas. Etigilimab, for its part, could spark either a high dollar licensing agreement or a full-on buyout within the next two years. So a lot is riding on this single experimental drug. Unfortunately, early stage cancer therapies fail more often than not in the clinic. As a failure in this case would weigh heavily on the biotech's share price, potential investors may want to keep any initial position on the small side.\nSenseonic: A rising tide lifts all boats\nSenseonics' stock is worth a look by ultra-aggressive investors due to its implantable continuous glucose monitoring (CGM) device franchise known as Eversense. The lowdown is that the CGM market has been growing by over 10% per year over the past five years, according to a report by Grand View Research. What's more, this space is forecast to grow by at least 10% per year over the next five years. That's definitely a favorable trend for a small-cap CGM player like Senseonics.\nSo far, Senseonics has only captured a small sliver of this multi-billion dollar medical device market with its Eversense franchise. But the company is hoping to drastically improve its competitive positioning with a potential regulatory approval by the Food and Drug Administration (FDA) for its 180-day version of the Eversense CGM system. The medical device company submitteda regulatory application to the FDA for this proposed product over a year ago. So a decision could come any day now.\nWhy does this FDA approval matter? Senseonics' internal projections have the company's top-line rising at a compound annual growth rate of over 70% over the next five years as a result of this key regulatory nod. The long and short of it is that the current 90-day Eversense CGM system isn't particularly competitive in the U.S. against the market-leading devices from DexCom and Abbott Laboratories, respectively. But this longer-lasting version of the device could cause sales to skyrocket in the coming years.\nWhat's the risk? Senseonics is competing in a jam-packed space against a number of well-capitalized medical-device giants. So there is a chance that this long-awaited FDA approval won't spark a parabolic rise in sales. That's not a knock against Senseonics' CGM system, but rather the harsh reality of competing against healthcare companies with vastly superior resources. Investors shouldn't ignore this potential risk factor.\nAll told, Senseonics could be on the verge of a game-changing regulatory event that might prove to be a key inflection point for the company's CGM franchise. If true, this medical device company's stock should turn out to be a downright bargain at these levels.","news_type":1,"symbols_score_info":{"MREO":0.9,"SENS":0.9}},"isVote":1,"tweetType":1,"viewCount":570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699408211,"gmtCreate":1639871380102,"gmtModify":1639871380240,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"Finally","listText":"Finally","text":"Finally","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/699408211","repostId":"1155244596","repostType":4,"repost":{"id":"1155244596","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":1639752003,"share":"https://www.laohu8.com/m/news/1155244596?lang=zh_CN&edition=full","pubTime":"2021-12-17 22:40","market":"us","language":"en","title":"Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list<blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1155244596","media":"Tiger Newspress","summary":"Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emerg","content":"<p>Novavax continued to jump nearly&nbsp;5% in morning trading as its vaccine had been included on the&nbsp;emergency use list.<img src=\"https://static.tigerbbs.com/6e0b5588f7377a98c70179cdc8612b3f\" tg-width=\"765\" tg-height=\"561\" width=\"100%\" height=\"auto\">The World Health Organization has included&nbsp;its&nbsp;vaccine NVX-CoV2373 on the emergency use list,and its&nbsp;original drug called nuvaxovidtm is currently undergoing evaluation by the European Medicines Agency.</p><p><blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单。世界卫生组织已将其疫苗NVX-CoV2373列入紧急使用清单，其名为nuvaxovidtm的原研药物目前正在接受欧洲药品管理局的评估。</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>Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list<blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单</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\">\nNovavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list<blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单</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\">2021-12-17 22:40</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Novavax continued to jump nearly&nbsp;5% in morning trading as its vaccine had been included on the&nbsp;emergency use list.<img src=\"https://static.tigerbbs.com/6e0b5588f7377a98c70179cdc8612b3f\" tg-width=\"765\" tg-height=\"561\" width=\"100%\" height=\"auto\">The World Health Organization has included&nbsp;its&nbsp;vaccine NVX-CoV2373 on the emergency use list,and its&nbsp;original drug called nuvaxovidtm is currently undergoing evaluation by the European Medicines Agency.</p><p><blockquote>Novavax早盘继续上涨近5%，因其疫苗已被列入紧急使用清单。世界卫生组织已将其疫苗NVX-CoV2373列入紧急使用清单，其名为nuvaxovidtm的原研药物目前正在接受欧洲药品管理局的评估。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVAX":"诺瓦瓦克斯医药"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155244596","content_text":"Novavax continued to jump nearly 5% in morning trading as its vaccine had been included on the emergency use list.The World Health Organization has included its vaccine NVX-CoV2373 on the emergency use list,and its original drug called nuvaxovidtm is currently undergoing evaluation by the European Medicines Agency.","news_type":1,"symbols_score_info":{"NVAX":0.9}},"isVote":1,"tweetType":1,"viewCount":2010,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699030149,"gmtCreate":1639718865275,"gmtModify":1639718865324,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Today 200 up???","listText":"<a href=\"https://laohu8.com/S/NVAX\">$Novavax(NVAX)$</a>Today 200 up???","text":"$Novavax(NVAX)$Today 200 up???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/699030149","isVote":1,"tweetType":1,"viewCount":2467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":607850693,"gmtCreate":1639527145298,"gmtModify":1639527145298,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"Thank you for sharing","listText":"Thank you for sharing","text":"Thank you for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/607850693","repostId":"1168111596","repostType":2,"repost":{"id":"1168111596","kind":"news","pubTimestamp":1639524397,"share":"https://www.laohu8.com/m/news/1168111596?lang=zh_CN&edition=full","pubTime":"2021-12-15 07:26","market":"us","language":"en","title":"SoFi: Beaten Down Badly, We See Big Time Gains Ahead<blockquote>SoFi：遭受重创，我们看到未来将大幅上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168111596","media":"seekingalpha","summary":"Summary\n\nWe have swing traded this stock successfully multiple times.\nAt these levels and below, it ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We have swing traded this stock successfully multiple times.</li>  <li>At these levels and below, it is a solid investment, but also once again a trading opportunity.</li>  <li>SOFI truly has a competitive advantage as a result of its horizontally integrated offerings cutting across many areas of fintech and banking.</li>  <li>The most recent quarter was decent, a banking charter is nigh, and this is going to be a winner you should own.</li>  <li>This idea was discussed in more depth with members of my private investing community, BAD BEAT Investing. </li> </ul> </p><p><blockquote><ul><li>我们已经多次成功地对这只股票进行波段交易。</li><li>在这些水平及以下，这是一项可靠的投资，但也再次成为一个交易机会。</li><li>SOFI确实具有竞争优势，因为其横向整合的产品横跨金融科技和银行业的许多领域。</li><li>最近一个季度表现不错，银行执照即将获得，这将是您应该拥有的赢家。</li><li>这个想法与我的私人投资社区BAD BEAT Investing的成员进行了更深入的讨论。</li></ul></blockquote></p><p> We recommend buying SoFi Technologies (SOFI) on this most recent selloff. We think the stock is at levels that are strong buys. Period. End of the column. That was easy. But in all seriousness, while having traded this name successfully multiple times, we felt it prudent to put out another piece on the ticker to inform our readers that it is setup once again as both a long-term winner if you enter here, and has the potential for a rapid-return swing trade. While the market has many concerns, with this pullback and considering the most recent earnings, the company is moving right along. We fully believe this will be a solid winner. You should own it.</p><p><blockquote>我们建议在最近的抛售中买入SoFi Technologies(SOFI)。我们认为该股处于强力买入的水平。周期。列的末尾。那很容易。但说真的，虽然已经多次成功交易了这个名字，但我们认为谨慎的做法是在股票代码上发布另一篇文章，以告知我们的读者，如果您进入这里，它将再次成为长期赢家，并且具有快速回报摇摆交易的潜力。尽管市场有很多担忧，但随着这次回调并考虑到最近的收益，该公司正在继续前进。我们完全相信这将是一个坚实的赢家。你应该拥有它。</blockquote></p><p> The stock is down hard from recent highs just weeks ago. Admittedly there may be some volatility, but we think the play is definitely to buy some now, and God willing if this drops more, buy it up.</p><p><blockquote>该股从几周前的近期高点大幅下跌。诚然，可能会有一些波动，但我们认为现在肯定是买入一些，上帝保佑，如果下跌更多，就买入。</blockquote></p><p> Make no mistake, there have been some other great companies we still love that are new and growing and the stocks have struggled. We think it's good to go.</p><p><blockquote>毫无疑问，还有其他一些我们仍然喜欢的伟大公司，它们是新的和成长中的，但股票却一直在苦苦挣扎。我们认为可以走了。</blockquote></p><p> <b>The play</b></p><p><blockquote><b>戏剧</b></blockquote></p><p> Buy 1: $14.30</p><p><blockquote>购买1：14.30美元</blockquote></p><p> Buy 2: $14.00</p><p><blockquote>购买2：$14.00</blockquote></p><p> Buy 3: $13.50</p><p><blockquote>购买3：13.50美元</blockquote></p><p> Shorter term profit target: $16.50-$17.00</p><p><blockquote>短期利润目标：$16.50-$17.00</blockquote></p><p> Traders who need a stop should look to jump ship on negative momentum at under 13.00, but we think it is a mistake frankly. Build a position for the longer term.</p><p><blockquote>需要止损的交易者应该在13.00以下的负面势头下跳槽，但坦率地说，我们认为这是一个错误。建立长期头寸。</blockquote></p><p> For call options, consider the January 2023 $15 strike.</p><p><blockquote>对于看涨期权期权，请考虑2023年1月15美元的行使价。</blockquote></p><p> <b>Discussion</b></p><p><blockquote><b>讨论</b></blockquote></p><p> The story of SOFI remains a great one. We know many who have used it in the years past, as they had attractive rates, terms, and made finance by the people, at least in the messaging. Here we are at the end of 2021, and SOFI now represents the next generation of banking, and plays into a growing fintech industry.</p><p><blockquote>SOFI的故事仍然是一个伟大的故事。我们知道许多人在过去几年里使用过它，因为他们有有吸引力的利率、条款，并且由人们融资，至少在信息传递中是这样。现在是2021年底，SOFI现在代表着下一代银行业，并在不断增长的金融科技行业中发挥作用。</blockquote></p><p> The stock got hit hard when SoftBank recently sold a massive stake. SoFi was also a bit of collateral damage in a recent New York court case, where a New York judge declined to approve Renren's (NYSE:RENN) settlement with shareholders who accused RENN insiders of taking the company's portfolio for themselves in 2018. The portfolio included a large stake in SoFi. Generally speaking, fintech has been weak of late. In fact, a lot of specialty tech has been hammered as we have noted in our chat boards, while the NASDAQ 100 index is largely holding up thanks to mega cap tech.</p><p><blockquote>当软银最近出售大量股份时，该股受到重创。SoFi在最近的纽约法庭案件中也受到了一些附带损害，纽约法官拒绝批准人人网（纽约证券交易所股票代码：RENN）与股东达成的和解，股东指控人人网内部人士在2018年将该公司的投资组合据为己有。该投资组合包括SoFi的大量股份。总的来说，金融科技最近表现疲软。事实上，正如我们在聊天板中指出的那样，许多专业科技股都受到了打击，而纳斯达克100指数在很大程度上得益于大型科技股。</blockquote></p><p> Regardless of the short term, when you look at SoFi, you have to be amazed at the growth they have shown! They started off as a simple provider of loans in the student loan market, and have since expanded their offerings to encompass a large array of services in the consumer finance sector. They have blossomed and now offer products ranging from personal loans, home loans, and even insurance, credit card services, cash management, brokerage services and recently to payments and financial services APIs for enterprises.</p><p><blockquote>无论短期如何，当你看到SoFi时，你都会对他们所表现出的增长感到惊讶！他们最初是学生贷款市场上的一个简单贷款提供商，后来扩大了他们的产品范围，涵盖了消费金融领域的大量服务。它们已经蓬勃发展，现在提供的产品范围从个人贷款、住房贷款，甚至保险、信用卡服务、现金管理、经纪服务，最近还为企业提供支付和金融服务API。</blockquote></p><p> Of course, their diverse and integrated ecosystem of services in a single app has gotten SOFI tremendous user growth, as increasingly frustrated customers of traditional banks opt to switch to SOFI for the ease of convenience.</p><p><blockquote>当然，他们在一个应用程序中提供多样化和集成的服务生态系统为SOFI带来了巨大的用户增长，因为越来越沮丧的传统银行客户选择转向SOFI以获得便利。</blockquote></p><p> What we love about this company is that it has such a low cost to acquire customers, but makes what a bank makes margin wise with loans. The combination of low-value financial products and high value loans on the same app increases the opportunity that its customers cross-buy into these loans. What is more, since the customer was acquired with low cost into its low-value offerings, the variable profit per customer that comes in and the buys into high-value loans now increases significantly compared to when obtaining that same loan customer through traditional means. In fact, it can increase 180%:</p><p><blockquote>我们喜欢这家公司的原因是，它获得客户的成本如此之低，但却能像银行那样通过贷款赚取利润。同一应用程序上低价值金融产品和高价值贷款的结合增加了客户交叉购买这些贷款的机会。此外，由于客户是以低成本获得其低价值产品的，与通过传统方式获得相同贷款客户相比，每个客户进入和购买高价值贷款的可变利润现在显著增加。事实上，它可以增加180%：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0e035dbd338ffdd698ad348e03cc7886\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> This is absolutely winning. The long-term potential here cannot be understated. That said, the most recent quarter was quite decent.</p><p><blockquote>这绝对是胜利。这里的长期潜力不可低估。也就是说，最近一个季度相当不错。</blockquote></p><p> Total revenue was $272.0 million in Q3 2021 which was up 35% from the corresponding prior-year period. On an adjusted basis, net revenue was $277.2 million, a record high for Q3, and 28% higher than last year's $216.8. Revenues were also up sequentially from Q2. There was continued strength in all three of SoFi's business segments, leading to these solid results, and the top line beat consensus estimates handily by $21.6 million.</p><p><blockquote>2021年第三季度总收入为2.72亿美元，比去年同期增长35%。调整后净收入为2.772亿美元，创第三季度历史新高，比去年的216.8美元增长28%。收入也较第二季度环比增长。SoFi的所有三个业务部门都持续强劲，取得了这些稳健的业绩，营收轻松超出市场普遍预期2160万美元。</blockquote></p><p></p><p> Now the major complaint of course for the relatively new public company is that it is not consistently making money on the bottom line. But it will folks. Indeed, SoFi saw $30.0 million net loss for the Q3 2021, compared to a net loss of $42.9 million in last year's quarter.</p><p><blockquote>当然，对于这家相对较新的上市公司来说，现在的主要抱怨是它没有持续盈利。但会的，伙计们。事实上，SoFi 2021年第三季度的净亏损为3000万美元，而去年同期的净亏损为4290万美元。</blockquote></p><p> The one thing to remember here is that the acquisition of Galileo was costly, and they lowered their valuation allowance. Just something to keep in mind. Anyway, we are pleased to see another quarter of positive adjusted EBITDA. It came in at of $10.3 million, and was positive for the fifth consecutive quarter, due to the combination of higher revenues across business segments, though this was a touch offset by increased spending to achieve incremental growth.</p><p><blockquote>这里要记住的一件事是，收购伽利略的成本很高，他们降低了估值准备金。只是一些需要记住的事情。无论如何，我们很高兴看到又一个季度的调整后EBITDA为正。由于各业务部门收入增加，收入为1,030万美元，连续第五个季度为正值，尽管这被实现增量增长的支出增加所抵消。</blockquote></p><p> One of the most critical items we noted was SOFI continues to accelerate its year-over-year growth in both members and total products in the quarter. This is key. Total members grew 96% year-over-year to 2.9 million, up from 1.5 million at the same point last year, and total products grew 105% to 3.3 million at quarter-end compared to 2.3 million at the same point last year.</p><p><blockquote>我们注意到的最重要的一点是SOFI在本季度继续加速会员和产品总数的同比增长。这是关键。会员总数同比增长96%，达到290万，高于去年同期的150万，产品总数增长105%，达到季度末的330万，而去年同期为230万。</blockquote></p><p> This is so critical to understand. The business metrics are largely improving, regardless of the stock moves. The stock is not the company. The company is not the stock. But the stock will recognize the moves in metrics eventually as the noise settles down and things improve. Growth in the member base and products continues to be driven by significant expansion in the offerings across business segments, particularly in the Financial Services segment, where growth in SoFi Invest and SoFi Money offerings more than doubled the number of Financial Services segment products, to nearly 3.2 million, up from approximately 1.2 million, at the same point last year.</p><p><blockquote>理解这一点非常重要。无论股票走势如何，业务指标都在大幅改善。股票不是公司。公司不是股票。但随着噪音平息和情况改善，该股最终会认识到指标的变化。会员基础和产品的增长继续受到各业务领域产品显着扩张的推动，特别是在金融服务领域，SoFi Invest和SoFi Money产品的增长使金融服务领域产品数量增加了一倍多，达到近320万，高于去年同期的约120万。</blockquote></p><p> As of the end of Q3, Financial Services segment products were nearly three times the number of Lending products.</p><p><blockquote>截至第三季度末，金融服务部门产品数量是借贷产品数量的近三倍。</blockquote></p><p> Growth in personal and student loans largely drove the 15% year-over-year increase in Lending segment products.</p><p><blockquote>个人和学生贷款的增长在很大程度上推动了贷款细分产品15%的同比增长。</blockquote></p><p> Technology Platform accounts increased by 80% to nearly 89 million. All of this is solid growth. The results versus guidance are a key communication from the company that we love to see. It helps hold them accountable.</p><p><blockquote>科技平台账户增长80%，达到近8900万。所有这些都是稳健的增长。结果与指导是我们希望看到的公司的关键沟通。这有助于让他们承担责任。</blockquote></p><p> We won't go incredibly deeper into the numbers but the key here is that the company's performance trounced guidance all around. We do not think management sandbags in order to beat either. The company is simply growing solidly.</p><p><blockquote>我们不会深入研究这些数字，但这里的关键是该公司的业绩全面超出了预期。我们也不认为管理层为了打败沙袋。该公司正在稳步增长。</blockquote></p><p> That said, management expects continued strong growth to finish the year. For Q4, they see expected adjusted net revenue of $272 to $282 million and expected adjusted EBITDA of $2 million to $3 million. That is strong growth on the top line:</p><p><blockquote>尽管如此，管理层预计今年将继续强劲增长。对于第四季度，他们预计调整后净收入为2.72亿美元至2.82亿美元，预计调整后EBITDA为200万美元至300万美元。这是营收的强劲增长：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d39f813c57f0aa872bee7e405db85a3\" tg-width=\"640\" tg-height=\"321\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The company also raised its guidance. We love it when companies raise guidance:</p><p><blockquote>该公司还提高了指引。我们喜欢公司提高指引：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9e250a317e08abf380a453e23c6e97b7\" tg-width=\"640\" tg-height=\"305\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Sure, there is a lot of noise around what will happen with rates, and the Fed, and with COVID and the economy. But in perspective, higher rates are good for companies that lend money, so long as they are securing funding at a nominal rate and profiting from a spread. The company sees annual performance being strong thanks to year-to-date performance and a strong Q4. We are most excited by seeing the company break a billion in revenues this year, with EBITDA possibly breaking $30 million. Growth from here is all but guaranteed.</p><p><blockquote>当然，关于利率、美联储、新冠疫情和经济将会发生什么，有很多噪音。但从长远来看，更高的利率对放款公司有利，只要它们能从名义利率获得资金，并能从利差中获利。由于今年迄今的业绩和第四季度强劲，该公司全年业绩强劲。我们最兴奋的是看到该公司今年的收入突破10亿美元，EBITDA可能突破3000万美元。这里的增长几乎是有保证的。</blockquote></p><p> <b>A few catalysts and risks</b></p><p><blockquote><b>一些催化剂和风险</b></blockquote></p><p> One thing we want to point out again is how the extension of the government's student loan moratorium has hindered the company. But that is coming to an end. While that was costly in 2021, we expect that 2022 will see a nice boost in repayment. So keep that in mind.</p><p><blockquote>我们想再次指出的一件事是，政府学生贷款暂停期的延长如何阻碍了该公司。但这种情况即将结束。虽然这在2021年成本高昂，但我们预计2022年还款将大幅增加。所以请记住这一点。</blockquote></p><p> Then there is of course the bank charter, which we see as very likely. For more on this, please see the many columns on SoFi on Seeking Alpha discussing this. We will say that as they have applied for a national bank license, if they get it, there are so many other products they could offer in addition to some other innovative things they could try as it relates to banking products.</p><p><blockquote>当然还有银行执照，我们认为这很有可能。有关这方面的更多信息，请参阅Seeking Alpha上SoFi上讨论此问题的许多专栏。我们会说，由于他们已经申请了国家银行许可证，如果他们获得了许可证，除了他们可以尝试的一些与银行产品相关的其他创新产品之外，他们还可以提供许多其他产品。</blockquote></p><p> Of course, a risk to the stock and to the company's growth would be if they were straight up denied a banking charter. That would hurt potential growth and we could see the stock being sold off pretty hard.</p><p><blockquote>当然，如果他们被直接拒绝银行牌照，股票和公司增长将面临风险。这将损害潜在增长，我们可能会看到该股被严重抛售。</blockquote></p><p> Another risk is if the government comes in and tries to regulate the massive uptick in the number of companies offering customers access to trading, or otherwise tries to limit individuals from trading. A lot of money is made from trading/investing, so any regulation here that limits this could be detrimental. Traders should keep their ears and eyes on the regulatory wire for anything that could hurt SoFi or its competitors in this regard.</p><p><blockquote>另一个风险是，如果政府介入并试图监管向客户提供交易机会的公司数量的大幅增加，或者试图限制个人交易。很多钱是从交易/投资中赚的，所以这里任何限制这一点的法规都可能是有害的。交易者应密切关注监管机构，了解任何可能在这方面伤害SoFi或其竞争对手的事情。</blockquote></p><p></p><p> <b>Take home</b></p><p><blockquote><b>带回家</b></blockquote></p><p> While the company and stock are not risk-free, the pullback has been massive. The secondary, as well as institutional selling, along with broader fintech weakness, has set up a great trading opportunity here. Take advantage of the selloff here and you will thank yourself down the road for buying this gem.</p><p><blockquote>虽然该公司和股票并非没有风险，但回调幅度很大。二级市场和机构抛售，以及更广泛的金融科技疲软，在这里创造了一个绝佳的交易机会。利用这里的抛售，你会感谢自己购买了这颗宝石。</blockquote></p><p></p>","source":"lsy1638401102509","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>SoFi: Beaten Down Badly, We See Big Time Gains Ahead<blockquote>SoFi：遭受重创，我们看到未来将大幅上涨</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\">\nSoFi: Beaten Down Badly, We See Big Time Gains Ahead<blockquote>SoFi：遭受重创，我们看到未来将大幅上涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-12-15 07:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>We have swing traded this stock successfully multiple times.</li>  <li>At these levels and below, it is a solid investment, but also once again a trading opportunity.</li>  <li>SOFI truly has a competitive advantage as a result of its horizontally integrated offerings cutting across many areas of fintech and banking.</li>  <li>The most recent quarter was decent, a banking charter is nigh, and this is going to be a winner you should own.</li>  <li>This idea was discussed in more depth with members of my private investing community, BAD BEAT Investing. </li> </ul> </p><p><blockquote><ul><li>我们已经多次成功地对这只股票进行波段交易。</li><li>在这些水平及以下，这是一项可靠的投资，但也再次成为一个交易机会。</li><li>SOFI确实具有竞争优势，因为其横向整合的产品横跨金融科技和银行业的许多领域。</li><li>最近一个季度表现不错，银行执照即将获得，这将是您应该拥有的赢家。</li><li>这个想法与我的私人投资社区BAD BEAT Investing的成员进行了更深入的讨论。</li></ul></blockquote></p><p> We recommend buying SoFi Technologies (SOFI) on this most recent selloff. We think the stock is at levels that are strong buys. Period. End of the column. That was easy. But in all seriousness, while having traded this name successfully multiple times, we felt it prudent to put out another piece on the ticker to inform our readers that it is setup once again as both a long-term winner if you enter here, and has the potential for a rapid-return swing trade. While the market has many concerns, with this pullback and considering the most recent earnings, the company is moving right along. We fully believe this will be a solid winner. You should own it.</p><p><blockquote>我们建议在最近的抛售中买入SoFi Technologies(SOFI)。我们认为该股处于强力买入的水平。周期。列的末尾。那很容易。但说真的，虽然已经多次成功交易了这个名字，但我们认为谨慎的做法是在股票代码上发布另一篇文章，以告知我们的读者，如果您进入这里，它将再次成为长期赢家，并且具有快速回报摇摆交易的潜力。尽管市场有很多担忧，但随着这次回调并考虑到最近的收益，该公司正在继续前进。我们完全相信这将是一个坚实的赢家。你应该拥有它。</blockquote></p><p> The stock is down hard from recent highs just weeks ago. Admittedly there may be some volatility, but we think the play is definitely to buy some now, and God willing if this drops more, buy it up.</p><p><blockquote>该股从几周前的近期高点大幅下跌。诚然，可能会有一些波动，但我们认为现在肯定是买入一些，上帝保佑，如果下跌更多，就买入。</blockquote></p><p> Make no mistake, there have been some other great companies we still love that are new and growing and the stocks have struggled. We think it's good to go.</p><p><blockquote>毫无疑问，还有其他一些我们仍然喜欢的伟大公司，它们是新的和成长中的，但股票却一直在苦苦挣扎。我们认为可以走了。</blockquote></p><p> <b>The play</b></p><p><blockquote><b>戏剧</b></blockquote></p><p> Buy 1: $14.30</p><p><blockquote>购买1：14.30美元</blockquote></p><p> Buy 2: $14.00</p><p><blockquote>购买2：$14.00</blockquote></p><p> Buy 3: $13.50</p><p><blockquote>购买3：13.50美元</blockquote></p><p> Shorter term profit target: $16.50-$17.00</p><p><blockquote>短期利润目标：$16.50-$17.00</blockquote></p><p> Traders who need a stop should look to jump ship on negative momentum at under 13.00, but we think it is a mistake frankly. Build a position for the longer term.</p><p><blockquote>需要止损的交易者应该在13.00以下的负面势头下跳槽，但坦率地说，我们认为这是一个错误。建立长期头寸。</blockquote></p><p> For call options, consider the January 2023 $15 strike.</p><p><blockquote>对于看涨期权期权，请考虑2023年1月15美元的行使价。</blockquote></p><p> <b>Discussion</b></p><p><blockquote><b>讨论</b></blockquote></p><p> The story of SOFI remains a great one. We know many who have used it in the years past, as they had attractive rates, terms, and made finance by the people, at least in the messaging. Here we are at the end of 2021, and SOFI now represents the next generation of banking, and plays into a growing fintech industry.</p><p><blockquote>SOFI的故事仍然是一个伟大的故事。我们知道许多人在过去几年里使用过它，因为他们有有吸引力的利率、条款，并且由人们融资，至少在信息传递中是这样。现在是2021年底，SOFI现在代表着下一代银行业，并在不断增长的金融科技行业中发挥作用。</blockquote></p><p> The stock got hit hard when SoftBank recently sold a massive stake. SoFi was also a bit of collateral damage in a recent New York court case, where a New York judge declined to approve Renren's (NYSE:RENN) settlement with shareholders who accused RENN insiders of taking the company's portfolio for themselves in 2018. The portfolio included a large stake in SoFi. Generally speaking, fintech has been weak of late. In fact, a lot of specialty tech has been hammered as we have noted in our chat boards, while the NASDAQ 100 index is largely holding up thanks to mega cap tech.</p><p><blockquote>当软银最近出售大量股份时，该股受到重创。SoFi在最近的纽约法庭案件中也受到了一些附带损害，纽约法官拒绝批准人人网（纽约证券交易所股票代码：RENN）与股东达成的和解，股东指控人人网内部人士在2018年将该公司的投资组合据为己有。该投资组合包括SoFi的大量股份。总的来说，金融科技最近表现疲软。事实上，正如我们在聊天板中指出的那样，许多专业科技股都受到了打击，而纳斯达克100指数在很大程度上得益于大型科技股。</blockquote></p><p> Regardless of the short term, when you look at SoFi, you have to be amazed at the growth they have shown! They started off as a simple provider of loans in the student loan market, and have since expanded their offerings to encompass a large array of services in the consumer finance sector. They have blossomed and now offer products ranging from personal loans, home loans, and even insurance, credit card services, cash management, brokerage services and recently to payments and financial services APIs for enterprises.</p><p><blockquote>无论短期如何，当你看到SoFi时，你都会对他们所表现出的增长感到惊讶！他们最初是学生贷款市场上的一个简单贷款提供商，后来扩大了他们的产品范围，涵盖了消费金融领域的大量服务。它们已经蓬勃发展，现在提供的产品范围从个人贷款、住房贷款，甚至保险、信用卡服务、现金管理、经纪服务，最近还为企业提供支付和金融服务API。</blockquote></p><p> Of course, their diverse and integrated ecosystem of services in a single app has gotten SOFI tremendous user growth, as increasingly frustrated customers of traditional banks opt to switch to SOFI for the ease of convenience.</p><p><blockquote>当然，他们在一个应用程序中提供多样化和集成的服务生态系统为SOFI带来了巨大的用户增长，因为越来越沮丧的传统银行客户选择转向SOFI以获得便利。</blockquote></p><p> What we love about this company is that it has such a low cost to acquire customers, but makes what a bank makes margin wise with loans. The combination of low-value financial products and high value loans on the same app increases the opportunity that its customers cross-buy into these loans. What is more, since the customer was acquired with low cost into its low-value offerings, the variable profit per customer that comes in and the buys into high-value loans now increases significantly compared to when obtaining that same loan customer through traditional means. In fact, it can increase 180%:</p><p><blockquote>我们喜欢这家公司的原因是，它获得客户的成本如此之低，但却能像银行那样通过贷款赚取利润。同一应用程序上低价值金融产品和高价值贷款的结合增加了客户交叉购买这些贷款的机会。此外，由于客户是以低成本获得其低价值产品的，与通过传统方式获得相同贷款客户相比，每个客户进入和购买高价值贷款的可变利润现在显著增加。事实上，它可以增加180%：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/0e035dbd338ffdd698ad348e03cc7886\" tg-width=\"640\" tg-height=\"320\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> This is absolutely winning. The long-term potential here cannot be understated. That said, the most recent quarter was quite decent.</p><p><blockquote>这绝对是胜利。这里的长期潜力不可低估。也就是说，最近一个季度相当不错。</blockquote></p><p> Total revenue was $272.0 million in Q3 2021 which was up 35% from the corresponding prior-year period. On an adjusted basis, net revenue was $277.2 million, a record high for Q3, and 28% higher than last year's $216.8. Revenues were also up sequentially from Q2. There was continued strength in all three of SoFi's business segments, leading to these solid results, and the top line beat consensus estimates handily by $21.6 million.</p><p><blockquote>2021年第三季度总收入为2.72亿美元，比去年同期增长35%。调整后净收入为2.772亿美元，创第三季度历史新高，比去年的216.8美元增长28%。收入也较第二季度环比增长。SoFi的所有三个业务部门都持续强劲，取得了这些稳健的业绩，营收轻松超出市场普遍预期2160万美元。</blockquote></p><p></p><p> Now the major complaint of course for the relatively new public company is that it is not consistently making money on the bottom line. But it will folks. Indeed, SoFi saw $30.0 million net loss for the Q3 2021, compared to a net loss of $42.9 million in last year's quarter.</p><p><blockquote>当然，对于这家相对较新的上市公司来说，现在的主要抱怨是它没有持续盈利。但会的，伙计们。事实上，SoFi 2021年第三季度的净亏损为3000万美元，而去年同期的净亏损为4290万美元。</blockquote></p><p> The one thing to remember here is that the acquisition of Galileo was costly, and they lowered their valuation allowance. Just something to keep in mind. Anyway, we are pleased to see another quarter of positive adjusted EBITDA. It came in at of $10.3 million, and was positive for the fifth consecutive quarter, due to the combination of higher revenues across business segments, though this was a touch offset by increased spending to achieve incremental growth.</p><p><blockquote>这里要记住的一件事是，收购伽利略的成本很高，他们降低了估值准备金。只是一些需要记住的事情。无论如何，我们很高兴看到又一个季度的调整后EBITDA为正。由于各业务部门收入增加，收入为1,030万美元，连续第五个季度为正值，尽管这被实现增量增长的支出增加所抵消。</blockquote></p><p> One of the most critical items we noted was SOFI continues to accelerate its year-over-year growth in both members and total products in the quarter. This is key. Total members grew 96% year-over-year to 2.9 million, up from 1.5 million at the same point last year, and total products grew 105% to 3.3 million at quarter-end compared to 2.3 million at the same point last year.</p><p><blockquote>我们注意到的最重要的一点是SOFI在本季度继续加速会员和产品总数的同比增长。这是关键。会员总数同比增长96%，达到290万，高于去年同期的150万，产品总数增长105%，达到季度末的330万，而去年同期为230万。</blockquote></p><p> This is so critical to understand. The business metrics are largely improving, regardless of the stock moves. The stock is not the company. The company is not the stock. But the stock will recognize the moves in metrics eventually as the noise settles down and things improve. Growth in the member base and products continues to be driven by significant expansion in the offerings across business segments, particularly in the Financial Services segment, where growth in SoFi Invest and SoFi Money offerings more than doubled the number of Financial Services segment products, to nearly 3.2 million, up from approximately 1.2 million, at the same point last year.</p><p><blockquote>理解这一点非常重要。无论股票走势如何，业务指标都在大幅改善。股票不是公司。公司不是股票。但随着噪音平息和情况改善，该股最终会认识到指标的变化。会员基础和产品的增长继续受到各业务领域产品显着扩张的推动，特别是在金融服务领域，SoFi Invest和SoFi Money产品的增长使金融服务领域产品数量增加了一倍多，达到近320万，高于去年同期的约120万。</blockquote></p><p> As of the end of Q3, Financial Services segment products were nearly three times the number of Lending products.</p><p><blockquote>截至第三季度末，金融服务部门产品数量是借贷产品数量的近三倍。</blockquote></p><p> Growth in personal and student loans largely drove the 15% year-over-year increase in Lending segment products.</p><p><blockquote>个人和学生贷款的增长在很大程度上推动了贷款细分产品15%的同比增长。</blockquote></p><p> Technology Platform accounts increased by 80% to nearly 89 million. All of this is solid growth. The results versus guidance are a key communication from the company that we love to see. It helps hold them accountable.</p><p><blockquote>科技平台账户增长80%，达到近8900万。所有这些都是稳健的增长。结果与指导是我们希望看到的公司的关键沟通。这有助于让他们承担责任。</blockquote></p><p> We won't go incredibly deeper into the numbers but the key here is that the company's performance trounced guidance all around. We do not think management sandbags in order to beat either. The company is simply growing solidly.</p><p><blockquote>我们不会深入研究这些数字，但这里的关键是该公司的业绩全面超出了预期。我们也不认为管理层为了打败沙袋。该公司正在稳步增长。</blockquote></p><p> That said, management expects continued strong growth to finish the year. For Q4, they see expected adjusted net revenue of $272 to $282 million and expected adjusted EBITDA of $2 million to $3 million. That is strong growth on the top line:</p><p><blockquote>尽管如此，管理层预计今年将继续强劲增长。对于第四季度，他们预计调整后净收入为2.72亿美元至2.82亿美元，预计调整后EBITDA为200万美元至300万美元。这是营收的强劲增长：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/6d39f813c57f0aa872bee7e405db85a3\" tg-width=\"640\" tg-height=\"321\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> The company also raised its guidance. We love it when companies raise guidance:</p><p><blockquote>该公司还提高了指引。我们喜欢公司提高指引：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9e250a317e08abf380a453e23c6e97b7\" tg-width=\"640\" tg-height=\"305\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> Sure, there is a lot of noise around what will happen with rates, and the Fed, and with COVID and the economy. But in perspective, higher rates are good for companies that lend money, so long as they are securing funding at a nominal rate and profiting from a spread. The company sees annual performance being strong thanks to year-to-date performance and a strong Q4. We are most excited by seeing the company break a billion in revenues this year, with EBITDA possibly breaking $30 million. Growth from here is all but guaranteed.</p><p><blockquote>当然，关于利率、美联储、新冠疫情和经济将会发生什么，有很多噪音。但从长远来看，更高的利率对放款公司有利，只要它们能从名义利率获得资金，并能从利差中获利。由于今年迄今的业绩和第四季度强劲，该公司全年业绩强劲。我们最兴奋的是看到该公司今年的收入突破10亿美元，EBITDA可能突破3000万美元。这里的增长几乎是有保证的。</blockquote></p><p> <b>A few catalysts and risks</b></p><p><blockquote><b>一些催化剂和风险</b></blockquote></p><p> One thing we want to point out again is how the extension of the government's student loan moratorium has hindered the company. But that is coming to an end. While that was costly in 2021, we expect that 2022 will see a nice boost in repayment. So keep that in mind.</p><p><blockquote>我们想再次指出的一件事是，政府学生贷款暂停期的延长如何阻碍了该公司。但这种情况即将结束。虽然这在2021年成本高昂，但我们预计2022年还款将大幅增加。所以请记住这一点。</blockquote></p><p> Then there is of course the bank charter, which we see as very likely. For more on this, please see the many columns on SoFi on Seeking Alpha discussing this. We will say that as they have applied for a national bank license, if they get it, there are so many other products they could offer in addition to some other innovative things they could try as it relates to banking products.</p><p><blockquote>当然还有银行执照，我们认为这很有可能。有关这方面的更多信息，请参阅Seeking Alpha上SoFi上讨论此问题的许多专栏。我们会说，由于他们已经申请了国家银行许可证，如果他们获得了许可证，除了他们可以尝试的一些与银行产品相关的其他创新产品之外，他们还可以提供许多其他产品。</blockquote></p><p> Of course, a risk to the stock and to the company's growth would be if they were straight up denied a banking charter. That would hurt potential growth and we could see the stock being sold off pretty hard.</p><p><blockquote>当然，如果他们被直接拒绝银行牌照，股票和公司增长将面临风险。这将损害潜在增长，我们可能会看到该股被严重抛售。</blockquote></p><p> Another risk is if the government comes in and tries to regulate the massive uptick in the number of companies offering customers access to trading, or otherwise tries to limit individuals from trading. A lot of money is made from trading/investing, so any regulation here that limits this could be detrimental. Traders should keep their ears and eyes on the regulatory wire for anything that could hurt SoFi or its competitors in this regard.</p><p><blockquote>另一个风险是，如果政府介入并试图监管向客户提供交易机会的公司数量的大幅增加，或者试图限制个人交易。很多钱是从交易/投资中赚的，所以这里任何限制这一点的法规都可能是有害的。交易者应密切关注监管机构，了解任何可能在这方面伤害SoFi或其竞争对手的事情。</blockquote></p><p></p><p> <b>Take home</b></p><p><blockquote><b>带回家</b></blockquote></p><p> While the company and stock are not risk-free, the pullback has been massive. The secondary, as well as institutional selling, along with broader fintech weakness, has set up a great trading opportunity here. Take advantage of the selloff here and you will thank yourself down the road for buying this gem.</p><p><blockquote>虽然该公司和股票并非没有风险，但回调幅度很大。二级市场和机构抛售，以及更广泛的金融科技疲软，在这里创造了一个绝佳的交易机会。利用这里的抛售，你会感谢自己购买了这颗宝石。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4475109-sofi-beaten-down-badly-we-see-big-time-gains-ahead\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://seekingalpha.com/article/4475109-sofi-beaten-down-badly-we-see-big-time-gains-ahead","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168111596","content_text":"Summary\n\nWe have swing traded this stock successfully multiple times.\nAt these levels and below, it is a solid investment, but also once again a trading opportunity.\nSOFI truly has a competitive advantage as a result of its horizontally integrated offerings cutting across many areas of fintech and banking.\nThe most recent quarter was decent, a banking charter is nigh, and this is going to be a winner you should own.\nThis idea was discussed in more depth with members of my private investing community, BAD BEAT Investing. \n\n\n\nWe recommend buying SoFi Technologies (SOFI) on this most recent selloff. We think the stock is at levels that are strong buys. Period. End of the column. That was easy. But in all seriousness, while having traded this name successfully multiple times, we felt it prudent to put out another piece on the ticker to inform our readers that it is setup once again as both a long-term winner if you enter here, and has the potential for a rapid-return swing trade. While the market has many concerns, with this pullback and considering the most recent earnings, the company is moving right along. We fully believe this will be a solid winner. You should own it.\n\nThe stock is down hard from recent highs just weeks ago. Admittedly there may be some volatility, but we think the play is definitely to buy some now, and God willing if this drops more, buy it up.\n\nMake no mistake, there have been some other great companies we still love that are new and growing and the stocks have struggled. We think it's good to go.\n\nThe play\nBuy 1: $14.30\n\nBuy 2: $14.00\n\nBuy 3: $13.50\n\nShorter term profit target: $16.50-$17.00\n\nTraders who need a stop should look to jump ship on negative momentum at under 13.00, but we think it is a mistake frankly. Build a position for the longer term.\n\nFor call options, consider the January 2023 $15 strike.\n\nDiscussion\nThe story of SOFI remains a great one. We know many who have used it in the years past, as they had attractive rates, terms, and made finance by the people, at least in the messaging. Here we are at the end of 2021, and SOFI now represents the next generation of banking, and plays into a growing fintech industry.\n\nThe stock got hit hard when SoftBank recently sold a massive stake. SoFi was also a bit of collateral damage in a recent New York court case, where a New York judge declined to approve Renren's (NYSE:RENN) settlement with shareholders who accused RENN insiders of taking the company's portfolio for themselves in 2018. The portfolio included a large stake in SoFi. Generally speaking, fintech has been weak of late. In fact, a lot of specialty tech has been hammered as we have noted in our chat boards, while the NASDAQ 100 index is largely holding up thanks to mega cap tech.\n\nRegardless of the short term, when you look at SoFi, you have to be amazed at the growth they have shown! They started off as a simple provider of loans in the student loan market, and have since expanded their offerings to encompass a large array of services in the consumer finance sector. They have blossomed and now offer products ranging from personal loans, home loans, and even insurance, credit card services, cash management, brokerage services and recently to payments and financial services APIs for enterprises.\n\nOf course, their diverse and integrated ecosystem of services in a single app has gotten SOFI tremendous user growth, as increasingly frustrated customers of traditional banks opt to switch to SOFI for the ease of convenience.\n\nWhat we love about this company is that it has such a low cost to acquire customers, but makes what a bank makes margin wise with loans. The combination of low-value financial products and high value loans on the same app increases the opportunity that its customers cross-buy into these loans. What is more, since the customer was acquired with low cost into its low-value offerings, the variable profit per customer that comes in and the buys into high-value loans now increases significantly compared to when obtaining that same loan customer through traditional means. In fact, it can increase 180%:\n\nThis is absolutely winning. The long-term potential here cannot be understated. That said, the most recent quarter was quite decent.\n\nTotal revenue was $272.0 million in Q3 2021 which was up 35% from the corresponding prior-year period. On an adjusted basis, net revenue was $277.2 million, a record high for Q3, and 28% higher than last year's $216.8. Revenues were also up sequentially from Q2. There was continued strength in all three of SoFi's business segments, leading to these solid results, and the top line beat consensus estimates handily by $21.6 million.\n\nNow the major complaint of course for the relatively new public company is that it is not consistently making money on the bottom line. But it will folks. Indeed, SoFi saw $30.0 million net loss for the Q3 2021, compared to a net loss of $42.9 million in last year's quarter.\n\nThe one thing to remember here is that the acquisition of Galileo was costly, and they lowered their valuation allowance. Just something to keep in mind. Anyway, we are pleased to see another quarter of positive adjusted EBITDA. It came in at of $10.3 million, and was positive for the fifth consecutive quarter, due to the combination of higher revenues across business segments, though this was a touch offset by increased spending to achieve incremental growth.\n\nOne of the most critical items we noted was SOFI continues to accelerate its year-over-year growth in both members and total products in the quarter. This is key. Total members grew 96% year-over-year to 2.9 million, up from 1.5 million at the same point last year, and total products grew 105% to 3.3 million at quarter-end compared to 2.3 million at the same point last year.\n\n\nThis is so critical to understand. The business metrics are largely improving, regardless of the stock moves. The stock is not the company. The company is not the stock. But the stock will recognize the moves in metrics eventually as the noise settles down and things improve. Growth in the member base and products continues to be driven by significant expansion in the offerings across business segments, particularly in the Financial Services segment, where growth in SoFi Invest and SoFi Money offerings more than doubled the number of Financial Services segment products, to nearly 3.2 million, up from approximately 1.2 million, at the same point last year.\n\nAs of the end of Q3, Financial Services segment products were nearly three times the number of Lending products.\n\nGrowth in personal and student loans largely drove the 15% year-over-year increase in Lending segment products.\n\nTechnology Platform accounts increased by 80% to nearly 89 million. All of this is solid growth. The results versus guidance are a key communication from the company that we love to see. It helps hold them accountable.\n\nWe won't go incredibly deeper into the numbers but the key here is that the company's performance trounced guidance all around. We do not think management sandbags in order to beat either. The company is simply growing solidly.\n\nThat said, management expects continued strong growth to finish the year. For Q4, they see expected adjusted net revenue of $272 to $282 million and expected adjusted EBITDA of $2 million to $3 million. That is strong growth on the top line:\n\nThe company also raised its guidance. We love it when companies raise guidance:\n\n\nSure, there is a lot of noise around what will happen with rates, and the Fed, and with COVID and the economy. But in perspective, higher rates are good for companies that lend money, so long as they are securing funding at a nominal rate and profiting from a spread. The company sees annual performance being strong thanks to year-to-date performance and a strong Q4. We are most excited by seeing the company break a billion in revenues this year, with EBITDA possibly breaking $30 million. Growth from here is all but guaranteed.\n\nA few catalysts and risks\nOne thing we want to point out again is how the extension of the government's student loan moratorium has hindered the company. But that is coming to an end. While that was costly in 2021, we expect that 2022 will see a nice boost in repayment. So keep that in mind.\n\nThen there is of course the bank charter, which we see as very likely. For more on this, please see the many columns on SoFi on Seeking Alpha discussing this. We will say that as they have applied for a national bank license, if they get it, there are so many other products they could offer in addition to some other innovative things they could try as it relates to banking products.\n\nOf course, a risk to the stock and to the company's growth would be if they were straight up denied a banking charter. That would hurt potential growth and we could see the stock being sold off pretty hard.\n\nAnother risk is if the government comes in and tries to regulate the massive uptick in the number of companies offering customers access to trading, or otherwise tries to limit individuals from trading. A lot of money is made from trading/investing, so any regulation here that limits this could be detrimental. Traders should keep their ears and eyes on the regulatory wire for anything that could hurt SoFi or its competitors in this regard.\n\nTake home\nWhile the company and stock are not risk-free, the pullback has been massive. The secondary, as well as institutional selling, along with broader fintech weakness, has set up a great trading opportunity here. Take advantage of the selloff here and you will thank yourself down the road for buying this gem.","news_type":1,"symbols_score_info":{"SOFI":0.9}},"isVote":1,"tweetType":1,"viewCount":3709,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":874410570,"gmtCreate":1637809855724,"gmtModify":1637809855724,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/874410570","repostId":"1130325691","repostType":2,"repost":{"id":"1130325691","kind":"news","pubTimestamp":1637804160,"share":"https://www.laohu8.com/m/news/1130325691?lang=zh_CN&edition=full","pubTime":"2021-11-25 09:36","market":"us","language":"en","title":"Who Cares If Chamath Palihapitiya Sold SOFI Stock?<blockquote>谁在乎Chamath Palihapitiya是否出售SOFI股票？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1130325691","media":"InvestorPlace","summary":"SOFI stock is at $18 now, but in the long term it's $30 or bust","content":"<p><div> InvestorPlace’s Joel Baglole recently discussed venture capitalist Chamath Palihapitiya’s sale of 15% of his holdings in SoFi Technologies(NASDAQ:SOFI) stock. The news, which put pressure on SOFI ...</p><p><blockquote><div>InvestorPlace的Joel Baglole最近讨论了风险投资家Chamath Palihapitiya出售其持有的SoFi Technologies（纳斯达克股票代码：SOFI）15%的股票。这一消息给SOFI带来了压力...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页连接</a></blockquote></p><p></p>","source":"lsy1606302653667","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 Cares If Chamath Palihapitiya Sold SOFI Stock?<blockquote>谁在乎Chamath Palihapitiya是否出售SOFI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\">\nWho Cares If Chamath Palihapitiya Sold SOFI Stock?<blockquote>谁在乎Chamath Palihapitiya是否出售SOFI股票？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestorPlace</strong><span class=\"h-time small\">2021-11-25 09:36</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> InvestorPlace’s Joel Baglole recently discussed venture capitalist Chamath Palihapitiya’s sale of 15% of his holdings in SoFi Technologies(NASDAQ:SOFI) stock. The news, which put pressure on SOFI ...</p><p><blockquote><div>InvestorPlace的Joel Baglole最近讨论了风险投资家Chamath Palihapitiya出售其持有的SoFi Technologies（纳斯达克股票代码：SOFI）15%的股票。这一消息给SOFI带来了压力...</div></blockquote></p><p>  <a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/\">InvestorPlace</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":{"SOFI":"SoFi Technologies Inc."},"source_url":"https://investorplace.com/2021/11/who-cares-if-chamath-palihapitiya-sold-sofi-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1130325691","content_text":"InvestorPlace’s Joel Baglole recently discussed venture capitalist Chamath Palihapitiya’s sale of 15% of his holdings in SoFi Technologies(NASDAQ:SOFI) stock.\nThe news, which put pressure on SOFI stock, should matter little to anyone else investing in SoFi.\nHere’s why.\nSOFI Stock Is One of Many Investments\nAnyone who follows special purpose acquisition companies knows that SPACs aren’t necessarily meant to be significant investments – although they can be – for the sponsors of the SPAC. Instead, the sponsors are there to attract other investors and find a suitable business to merge with, so they can put the cash raised to work.\nIn the case of SoFi,it merged with Social Capital Hedosophia Holdings Corp. V, on May 28.SCH Sponsor V LLC, the partnership between Social Capital, Palihapitiya’s venture capital firm, and Hedosophia, Ian Osborne’s investment firm, raised $300 million in October 2020 to put into play.\nWhen Social Capital Hedosophia announced the merger in January, its presentation stated that Social Capital Hedosophia, the sponsor, would own 2.3% of the merged entity. However, in the PIPE (private investment in public equity) noted on page 49 of its presentation, Social Capital and Hedosophia invested $275 million, good for another 3.2% [$275M/1.225B multiplied by 14.2%].\nAt the time of the merger, SoFi’s shareholders owned 74.2% of the company. It’s those shareholders that investors ought to be more concerned about.\nSome of the Other Selling Stockholders\nIf you look at the Nov. 15 supplement to its prospectus, you will see that several insiders were selling stock totaling 50 million shares in a secondary offering. Of those 50 million,ChaChaCha SPAC 5 LLC, an entity controlled by Palihapitiya, sold 5.36 million shares in the offering, reducing its stake to 28.68 million, or 3.6% of the company.\nSoftBank Group(OTCMKTS:SFTBY), on the other hand, is selling 22.51 million shares, reducing its stake from 14.6% to 11.8%. However, it is still SoFi’s largest shareholder, owning more than 3x as many shares as Palihapitiya.\nSoftBank first invested in SoFi in the company’s Series E funding in September 2015.\n“SoftBank seeks to invest in large industries or geographies that are ripe for change,” said Nikesh Arora, president & COO of SoftBank Group in its September 2015 press release. “This investment gives SoftBank exposure to the financial services sector, which is one of the largest and most important industries in the world. SoFi is clearly a game changer in the fintech space.”\nSo, the fact that SoftBank is selling some of its shares after more than five years of holding them should also be of little concern to investors. SoftBank isn’t in the business of permanent holdings.\nWhat’s Important for Investors\nThe secondary sale of SOFI stock pushed its shares lower by 12% “of its peak, according toInvestorPlace’sMark Hake. However, he believes the dip warrants a buying opportunity.\nHake believes that SOFI stock is worth $25 or possibly more. Currently it trades at $18.\n“Analysts on Wall Street are still quite positive on SOFI stock. For example, six Wall Street buy-side analysts that have written on the stock in the last 3 months have an average price target of $26.33, according to TipRanks. That represents a potential upside of over 29% for SOFI stock,” Hake wrote on Nov. 20.\nSOFI stock had traded above $20 since the end of October, but well off its 52-week highs.\nIn early November, I suggested that several fintechs were going public was an indication that it might be a good time to buy SOFI stock. While November hasn’t worked out as I’d hoped for SoFi, I continue to believe that the fintech disruptor will move higher over the final days of 2021 and the early part of 2022.\nThe company reported Q3 2021 results that included a 35.5% increase in revenue over last year. In addition, it hit a membership total of 2.9 million, 96% higher year-over-year, thanks to the introduction of new products such as SoFi Invest.\nSoFi will continue to launch products that meet the needs of its customer base, now almost 3 million strong.\nI continue to like SoFi stock as a long-term financial services hold.","news_type":1,"symbols_score_info":{"SOFI":0.9}},"isVote":1,"tweetType":1,"viewCount":965,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":875002689,"gmtCreate":1637583803446,"gmtModify":1637583803446,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for sharing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/875002689","repostId":"1150650904","repostType":2,"repost":{"id":"1150650904","kind":"news","pubTimestamp":1637323265,"share":"https://www.laohu8.com/m/news/1150650904?lang=zh_CN&edition=full","pubTime":"2021-11-19 20:01","market":"us","language":"en","title":"Fastly: Still Remaining On The Sidelines For Now<blockquote>Fastly：目前仍保持观望</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1150650904","media":"seekingalpha","summary":"Summary\n\nFastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and nega","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Fastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and negative free cash flow are starting to drain the company's liquidity.</li>  <li>Management provided weaker-than-expected Q4 guidance, though the $1 billion revenue target by 2025 optically looks nice.</li>  <li>Valuation seems to be pricing in strong growth over the coming years, and at 17x forward revenue, I remain on the sidelines waiting for a better entry point.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/142c5f2c4a4ce915516d1e3e32c7b9d2\" tg-width=\"1536\" tg-height=\"1022\" width=\"100%\" height=\"auto\"><span>Leon Neal/Getty Images News</span></p><p><blockquote><ul><li>Fastly公布的第三季度业绩好于预期，尽管持续的调整后EBITDA亏损和负自由现金流开始耗尽公司的流动性。</li><li>尽管到2025年10亿美元的收入目标看起来不错，但管理层提供的第四季度指引弱于预期。</li><li>估值似乎反映了未来几年的强劲增长，在预期收入17倍的情况下，我仍处于观望状态，等待更好的切入点。</li></ul><p class=\"t-img-caption\"><span>莱昂·尼尔/盖蒂图片社新闻</span></p></blockquote></p><p> Fastly (FSLY) reported a good Q3 earnings with revenue above expectations, though the negative adjusted EBITDA and free cash flow continue to place questions around longer-term profitability. The stock has traded down around 15% since the company's earnings release, though continues to trade at a premium 17x forward revenue multiple.</p><p><blockquote>Fastly(FSLY)公布了良好的第三季度收益，收入超出预期，尽管调整后EBITDA和自由现金流为负继续引发人们对长期盈利能力的质疑。自该公司发布财报以来，该股的交易价格已下跌约15%，但其交易价格仍较预期收入高出17倍。</blockquote></p><p> Management also provided guidance for Q4 which seemed a little soft compared to expectations. On top of that, their $1 billion revenue target by 2025 seems positive at face value and represents a 30% growth CAGR, though they did acknowledge that some growth could come from M&amp;A, meaning organic growth might be lower than 30%.</p><p><blockquote>管理层还提供了第四季度的指引，与预期相比似乎有些疲软。最重要的是，他们到2025年10亿美元的收入目标从表面上看似乎是积极的，代表着30%的复合年增长率，尽管他们确实承认一些增长可能来自并购，这意味着有机增长可能低于30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fb02c16fe105dbc0c38553ce010703d2\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> While the growth prospects have improved, I still remain on the sidelines and wait for a better entry point. I believe there remains execution risk to the growth story and even though the $1 billion revenue target seems positive, I believe investors will turn their focus towards profitability and the potential need to tap the debt and/or equity markets to fund growth given their negative free cash flows.</p><p><blockquote>虽然增长前景有所改善，但我仍然保持观望，等待更好的切入点。我认为增长故事仍然存在执行风险，尽管10亿美元的收入目标似乎是积极的，但我相信投资者将把注意力转向盈利能力，以及鉴于其负自由现金流，利用债务和/或股票市场为增长提供资金的潜在需求。</blockquote></p><p> I last wrote about FSLY in mid-September when the stock was trading around $45 and noted a better entry point would be below $40. Since then, the stock has been quite volatile, yet we are still around the same $45 level.</p><p><blockquote>我上次撰写有关FSLY的文章是在9月中旬，当时该股的交易价格约为45美元，并指出更好的切入点是低于40美元。自那以后，该股波动很大，但我们仍在45美元的水平附近。</blockquote></p><p> Fastly operates a CDN (content delivery network). In other words, that have a network of services and data centers globally distributed that makes it easier for consumers to access faster internet. Through their edge cloud platform, FSLY's infrastructure is closer to the consumer's desired destination, which increases internet response times and can reduce latency.</p><p><blockquote>Fastly运营CDN（内容交付网络）。换句话说，它拥有一个分布在全球的服务和数据中心网络，这使得消费者更容易访问更快的互联网。通过他们的边缘云平台，FSLY的基础设施更接近消费者所需的目的地，这增加了互联网响应时间并减少了延迟。</blockquote></p><p> <b>Recent Financial Review</b></p><p><blockquote><b>近期财务回顾</b></blockquote></p><p> Revenue during Q3 grew 23% to $87 million, which came in just over $3 million above expectations for $83-84 million. Even though revenue had nearly $1 million impact from some write-downs associated with their Signal Sciences acquisition, growth was still pretty strong.</p><p><blockquote>第三季度收入增长23%，达到8700万美元，比预期的83-8400万美元高出300万美元多一点。尽管与收购Signal Sciences相关的一些减记对收入产生了近100万美元的影响，但增长仍然相当强劲。</blockquote></p><p> However, the company's adjusted EBITDA loss came in around $5.4 million, which was much worse than the profit of $0.8 million last year. It also should be noted that within adjusted EBITDA, the company is adding back a lot of stock compensation, to the tune of $36.6 million during the quarter. On a GAAP basis, the company's net loss was over $56 million.</p><p><blockquote>然而，该公司调整后的EBITDA亏损约为540万美元，远低于去年80万美元的利润。还应该指出的是，在调整后的EBITDA中，该公司增加了大量股票补偿，本季度达到3660万美元。按公认会计准则计算，该公司的净亏损超过5600万美元。</blockquote></p><p> Yes, investors are still more focused around the company's revenue growth potential, which I will discuss later on, but eventually FSLY will need to demonstrate a path towards consistent profitability.</p><p><blockquote>是的，投资者仍然更关注公司的收入增长潜力，我稍后将讨论这一点，但最终FSLY需要展示一条实现持续盈利的道路。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cec467a66d0ab95e9501098d2063b3a1\" tg-width=\"640\" tg-height=\"82\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p> Even when looking at the company's free cash flow metrics, only once in the past 7+ quarters have been positive. The cash burn rate remains quite large and eventually we could see the company tap the debt and/or equity market for additional liquidity.</p><p><blockquote>即使查看该公司的自由现金流指标，在过去7个多季度中也只有一次是正值。现金消耗率仍然相当大，最终我们可能会看到该公司利用债务和/或股票市场来获得额外的流动性。</blockquote></p><p> With almost $1.1 billion of cash and marketable securities combined with over $900 million of long-term debt, the company is sitting on just $200 million of net cash.</p><p><blockquote>该公司拥有近11亿美元的现金和有价证券，加上超过9亿美元的长期债务，净现金仅为2亿美元。</blockquote></p><p> On a positive note, the company continues to expand their enterprise customer base, which reached 430 customers during the quarter. Net retention rate was 112%, which improved quite a bit from the 93% reported in the year-ago period.</p><p><blockquote>从积极的方面来看，该公司继续扩大其企业客户群，本季度客户数量达到430家。净保留率为112%，较去年同期的93%有较大提高。</blockquote></p><p> However, when we look at a dollar-based net expansion rate, this came in at 118% during the quarter, down from 126% last quarter. Yes, this metric remains well above 100%, which signals continued strong growth, but the sequential slowdown may wave a slight caution flag for some investors.</p><p><blockquote>然而，当我们以美元计算的净增长率时，本季度的净增长率为118%，低于上季度的126%。是的，这一指标仍远高于100%，这表明增长持续强劲，但连续放缓可能会给一些投资者带来轻微的谨慎信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/056d4f1c73e976c2174327ad0c8ea5a6\" tg-width=\"640\" tg-height=\"191\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p></p><p> Management provided guidance for Q4 which came in a little light of expectations. Revenue is expected to be $90-93 million and was a little below consensus expectations of $94.5 million. Also, non-GAAP operating loss is expected to be $15-18 million.</p><p><blockquote>管理层为第四季度提供了指引，略低于预期。收入预计为90-9300万美元，略低于普遍预期的9450万美元。此外，非GAAP运营亏损预计为15-1800万美元。</blockquote></p><p> On top of that, the company talked about their $1 billion revenue goal by 2025. Optically, it sounds great to say the company is going to generate $1 billion of revenue. Looking at little further into this, $1 billion of revenue would represent a growth CAGR of ~30% for the next four years. Yes, this is a very strong growth rate, but the stock's valuation is already pricing in high expectations.</p><p><blockquote>最重要的是，该公司谈到了到2025年实现10亿美元的收入目标。从视觉上看，说该公司将产生10亿美元的收入听起来很棒。进一步研究一下，10亿美元的收入将意味着未来四年的复合年增长率约为30%。是的，这是一个非常强劲的增长率，但该股的估值已经反映了高预期。</blockquote></p><p> <b>Other Recent Updates</b></p><p><blockquote><b>其他近期更新</b></blockquote></p><p> Back in June, the company went through a widely publicized service outage that resulted in the company issuing credit to customers, the slowdown of existing traffic expansion, and the loss of a top 10 customer. Rumors also surfaced that Amazon(NASDAQ:AMZN)stopped using Fastly's services after the outage and it seems like the service outage impacts continue to weigh on the stock.</p><p><blockquote>早在6月份，该公司就经历了一次广为人知的服务中断，导致该公司向客户发放信贷，现有流量扩张放缓，并失去了一名前10名客户。还有传言称，亚马逊（纳斯达克股票代码：AMZN）在停电后停止使用Fastly的服务，服务停电的影响似乎继续对该股造成压力。</blockquote></p><p> During the&nbsp;conference call,management was asked about the extent to which traffic volumes have started to come back from some of these larger clients.</p><p><blockquote>在电话会议期间，管理层被问及其中一些较大客户的客流量在多大程度上开始恢复。</blockquote></p><p>   So I think, as we've said, the top customer didn't return traffic, they returned to traffic. They do continue to ramp. The larger customers, when they come back, typically ramp their traffic back over time. I don't have a specific timeline, but they are back and that will increase over time.  So while the traffic continues to ramp, it seems like it could take several quarters for the traffic to fully come back, that is if Amazon (or other larger clients) wants to come back to FSLY.</p><p><blockquote>所以我认为，正如我们所说，顶级客户没有返回流量，他们返回了流量。他们确实在继续上升。当较大的客户回来时，通常会随着时间的推移增加他们的流量。我没有一个具体的时间表，但他们回来了，而且会随着时间的推移而增加。因此，虽然流量继续增加，但如果亚马逊（或其他更大的客户）想要回到FSLY，流量似乎需要几个季度才能完全恢复。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f894336d393079f47e887e7418627c4\" tg-width=\"640\" tg-height=\"243\" width=\"100%\" height=\"auto\"><span>Source: CDN Traffic Share</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：CDN流量份额</span></p></blockquote></p><p> When looking at CDN Traffic Share, it continues to seem like Fastly has permanently lost a good chunk of their Amazon business. The charts above show the past 30-day CDN usage of Amazon, with the two primary resources being Amazon CloudFront and Akamai(NASDAQ:AKAM). Yes, Fastly is still seeing some traffic flow through their system, but they remain third on the totem pole and may have a long pathway back towards becoming a primary provider.</p><p><blockquote>从CDN流量份额来看，Fastly似乎已经永久失去了很大一部分亚马逊业务。上面的图表显示了亚马逊过去30天的CDN使用情况，两个主要资源是Amazon CloudFront和Akamai（纳斯达克：AKAM）。是的，Fastly仍然看到一些流量通过他们的系统，但他们仍然在图腾柱上排名第三，可能还有很长的路要走才能成为主要提供商。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> Given the volatile news flow over the past several months, we have seen the stock trade in quite a volatile fashion, with +/- 3% days seemingly becoming the natural stock movement. Since reporting earnings, the stock has been down around 15% and remains well below their previous all-time high around $125.</p><p><blockquote>鉴于过去几个月不稳定的消息流，我们已经看到股票交易以相当不稳定的方式进行，+/-3%的天数似乎成为股票的自然走势。自公布财报以来，该股已下跌约15%，仍远低于之前125美元左右的历史高点。</blockquote></p><p> The volatility does provide some interesting entry points for investors to make short-term money, however, I continue to believe there remains some execution risk to the stock. I have long-term confidence in the company's edge platform, but I believe valuation fully reflects long-term confidence, and investors should approach with caution.</p><p><blockquote>波动性确实为投资者提供了一些有趣的短期赚钱切入点，但是，我仍然认为该股仍然存在一些执行风险。我对公司的边缘平台有长期信心，但我认为估值充分反映了长期信心，投资者应谨慎接近。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e487598a9a605d8dce902692a2f9ceb1\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> With a current market cap of $5.3 billion and net cash of $200 million, this results in the company having an enterprise value of $5.1 billion.</p><p><blockquote>目前市值为53亿美元，净现金为2亿美元，这使得该公司的企业价值为51亿美元。</blockquote></p><p> While the company did provide a 2025 revenue target of $1 billion, we can start to view valuation in a few different ways.</p><p><blockquote>虽然该公司确实提供了2025年10亿美元的收入目标，但我们可以开始以几种不同的方式看待估值。</blockquote></p><p> First, if we assume the stock will trade at a 10x forward revenue multiple at the end of 2024 and by using the company's $1 billion revenue target, this could imply an enterprise value of $10 billion by the end of 2024. Given that we are already near the end of 2021, this would imply enterprise value growing at a ~25% CAGR through 2024.</p><p><blockquote>首先，如果我们假设该股到2024年底的预期收入倍数为10倍，并使用该公司10亿美元的收入目标，这可能意味着到2024年底企业价值将达到100亿美元。鉴于我们已经接近2021年底，这意味着到2024年，企业价值将以约25%的复合年增长率增长。</blockquote></p><p> However, this valuation method is a little challenging because in a few years, revenue growth may be below the 30% CAGR that is expected through 2025. Thus, if the company is only growing 20-25% (and assuming profitability has significantly improved), then maybe the multiple is only 8-9x forward revenue, which would imply an enterprise value growth CAGR of ~15-20% for the next few years. That's still a solid return, but at current valuation, it does not leave much room for error.</p><p><blockquote>然而，这种估值方法有点挑战性，因为几年后，收入增长可能会低于预计到2025年的30%复合年增长率。因此，如果公司仅增长20-25%（假设盈利能力显着提高），那么该倍数可能仅为预期收入的8-9倍，这意味着未来企业价值复合年增长率约为15-20%几年。这仍然是一个稳定的回报，但以目前的估值来看，它没有留下太多的误差空间。</blockquote></p><p> Another way to view valuation could be the following. Part of the $1 billion of revenue by 2025 could come from inorganic contributions, thus, the company's valuation multiple should better reflect their organic growth rate. By adding acquisitions to the equation and assuming a lower organic growth, we can still get to the company's ~30% revenue growth CAGR, but maybe the forward revenue multiple pulls back towards 5-8x. In addition, this forward revenue multiple would assume a significant expansion in profitability margins and positive free cash flow.</p><p><blockquote>另一种看待估值的方式可能如下。到2025年，10亿美元收入的一部分可能来自无机贡献，因此，该公司的估值倍数应该更好地反映其有机增长率。通过将收购添加到等式中并假设较低的有机增长，我们仍然可以实现该公司约30%的收入增长复合年增长率，但远期收入倍数可能会回落至5-8倍。此外，这一远期收入倍数将假设利润率显着扩大和正的自由现金流。</blockquote></p><p></p><p> Under this scenario, we could see the stock's enterprise value grow at 10%+ CAGR over the next few years, which does not seem overly attractive considering the current valuation and embedded execution risks.</p><p><blockquote>在这种情况下，我们可能会看到该股的企业价值在未来几年以10%以上的复合年增长率增长，考虑到当前的估值和内在的执行风险，这似乎并没有太大的吸引力。</blockquote></p><p> The stock currently trades just under 17x forward revenue as investors have confidence in the long-term trajectory. However, I continue to remain on the sidelines for now and the stock already is pricing in a strong rebound. I think a better entry point would be under $40.</p><p><blockquote>由于投资者对长期发展轨迹充满信心，该股目前的预期收益略低于17倍。然而，我目前继续保持观望，该股已经预计将强劲反弹。我认为更好的切入点应该在40美元以下。</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>Fastly: Still Remaining On The Sidelines For Now<blockquote>Fastly：目前仍保持观望</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\">\nFastly: Still Remaining On The Sidelines For Now<blockquote>Fastly：目前仍保持观望</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-11-19 20:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Fastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and negative free cash flow are starting to drain the company's liquidity.</li>  <li>Management provided weaker-than-expected Q4 guidance, though the $1 billion revenue target by 2025 optically looks nice.</li>  <li>Valuation seems to be pricing in strong growth over the coming years, and at 17x forward revenue, I remain on the sidelines waiting for a better entry point.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/142c5f2c4a4ce915516d1e3e32c7b9d2\" tg-width=\"1536\" tg-height=\"1022\" width=\"100%\" height=\"auto\"><span>Leon Neal/Getty Images News</span></p><p><blockquote><ul><li>Fastly公布的第三季度业绩好于预期，尽管持续的调整后EBITDA亏损和负自由现金流开始耗尽公司的流动性。</li><li>尽管到2025年10亿美元的收入目标看起来不错，但管理层提供的第四季度指引弱于预期。</li><li>估值似乎反映了未来几年的强劲增长，在预期收入17倍的情况下，我仍处于观望状态，等待更好的切入点。</li></ul><p class=\"t-img-caption\"><span>莱昂·尼尔/盖蒂图片社新闻</span></p></blockquote></p><p> Fastly (FSLY) reported a good Q3 earnings with revenue above expectations, though the negative adjusted EBITDA and free cash flow continue to place questions around longer-term profitability. The stock has traded down around 15% since the company's earnings release, though continues to trade at a premium 17x forward revenue multiple.</p><p><blockquote>Fastly(FSLY)公布了良好的第三季度收益，收入超出预期，尽管调整后EBITDA和自由现金流为负继续引发人们对长期盈利能力的质疑。自该公司发布财报以来，该股的交易价格已下跌约15%，但其交易价格仍较预期收入高出17倍。</blockquote></p><p> Management also provided guidance for Q4 which seemed a little soft compared to expectations. On top of that, their $1 billion revenue target by 2025 seems positive at face value and represents a 30% growth CAGR, though they did acknowledge that some growth could come from M&amp;A, meaning organic growth might be lower than 30%.</p><p><blockquote>管理层还提供了第四季度的指引，与预期相比似乎有些疲软。最重要的是，他们到2025年10亿美元的收入目标从表面上看似乎是积极的，代表着30%的复合年增长率，尽管他们确实承认一些增长可能来自并购，这意味着有机增长可能低于30%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fb02c16fe105dbc0c38553ce010703d2\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> While the growth prospects have improved, I still remain on the sidelines and wait for a better entry point. I believe there remains execution risk to the growth story and even though the $1 billion revenue target seems positive, I believe investors will turn their focus towards profitability and the potential need to tap the debt and/or equity markets to fund growth given their negative free cash flows.</p><p><blockquote>虽然增长前景有所改善，但我仍然保持观望，等待更好的切入点。我认为增长故事仍然存在执行风险，尽管10亿美元的收入目标似乎是积极的，但我相信投资者将把注意力转向盈利能力，以及鉴于其负自由现金流，利用债务和/或股票市场为增长提供资金的潜在需求。</blockquote></p><p> I last wrote about FSLY in mid-September when the stock was trading around $45 and noted a better entry point would be below $40. Since then, the stock has been quite volatile, yet we are still around the same $45 level.</p><p><blockquote>我上次撰写有关FSLY的文章是在9月中旬，当时该股的交易价格约为45美元，并指出更好的切入点是低于40美元。自那以后，该股波动很大，但我们仍在45美元的水平附近。</blockquote></p><p> Fastly operates a CDN (content delivery network). In other words, that have a network of services and data centers globally distributed that makes it easier for consumers to access faster internet. Through their edge cloud platform, FSLY's infrastructure is closer to the consumer's desired destination, which increases internet response times and can reduce latency.</p><p><blockquote>Fastly运营CDN（内容交付网络）。换句话说，它拥有一个分布在全球的服务和数据中心网络，这使得消费者更容易访问更快的互联网。通过他们的边缘云平台，FSLY的基础设施更接近消费者所需的目的地，这增加了互联网响应时间并减少了延迟。</blockquote></p><p> <b>Recent Financial Review</b></p><p><blockquote><b>近期财务回顾</b></blockquote></p><p> Revenue during Q3 grew 23% to $87 million, which came in just over $3 million above expectations for $83-84 million. Even though revenue had nearly $1 million impact from some write-downs associated with their Signal Sciences acquisition, growth was still pretty strong.</p><p><blockquote>第三季度收入增长23%，达到8700万美元，比预期的83-8400万美元高出300万美元多一点。尽管与收购Signal Sciences相关的一些减记对收入产生了近100万美元的影响，但增长仍然相当强劲。</blockquote></p><p> However, the company's adjusted EBITDA loss came in around $5.4 million, which was much worse than the profit of $0.8 million last year. It also should be noted that within adjusted EBITDA, the company is adding back a lot of stock compensation, to the tune of $36.6 million during the quarter. On a GAAP basis, the company's net loss was over $56 million.</p><p><blockquote>然而，该公司调整后的EBITDA亏损约为540万美元，远低于去年80万美元的利润。还应该指出的是，在调整后的EBITDA中，该公司增加了大量股票补偿，本季度达到3660万美元。按公认会计准则计算，该公司的净亏损超过5600万美元。</blockquote></p><p> Yes, investors are still more focused around the company's revenue growth potential, which I will discuss later on, but eventually FSLY will need to demonstrate a path towards consistent profitability.</p><p><blockquote>是的，投资者仍然更关注公司的收入增长潜力，我稍后将讨论这一点，但最终FSLY需要展示一条实现持续盈利的道路。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cec467a66d0ab95e9501098d2063b3a1\" tg-width=\"640\" tg-height=\"82\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p> Even when looking at the company's free cash flow metrics, only once in the past 7+ quarters have been positive. The cash burn rate remains quite large and eventually we could see the company tap the debt and/or equity market for additional liquidity.</p><p><blockquote>即使查看该公司的自由现金流指标，在过去7个多季度中也只有一次是正值。现金消耗率仍然相当大，最终我们可能会看到该公司利用债务和/或股票市场来获得额外的流动性。</blockquote></p><p> With almost $1.1 billion of cash and marketable securities combined with over $900 million of long-term debt, the company is sitting on just $200 million of net cash.</p><p><blockquote>该公司拥有近11亿美元的现金和有价证券，加上超过9亿美元的长期债务，净现金仅为2亿美元。</blockquote></p><p> On a positive note, the company continues to expand their enterprise customer base, which reached 430 customers during the quarter. Net retention rate was 112%, which improved quite a bit from the 93% reported in the year-ago period.</p><p><blockquote>从积极的方面来看，该公司继续扩大其企业客户群，本季度客户数量达到430家。净保留率为112%，较去年同期的93%有较大提高。</blockquote></p><p> However, when we look at a dollar-based net expansion rate, this came in at 118% during the quarter, down from 126% last quarter. Yes, this metric remains well above 100%, which signals continued strong growth, but the sequential slowdown may wave a slight caution flag for some investors.</p><p><blockquote>然而，当我们以美元计算的净增长率时，本季度的净增长率为118%，低于上季度的126%。是的，这一指标仍远高于100%，这表明增长持续强劲，但连续放缓可能会给一些投资者带来轻微的谨慎信号。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/056d4f1c73e976c2174327ad0c8ea5a6\" tg-width=\"640\" tg-height=\"191\" width=\"100%\" height=\"auto\"><span>Source: Company Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：公司介绍</span></p></blockquote></p><p></p><p> Management provided guidance for Q4 which came in a little light of expectations. Revenue is expected to be $90-93 million and was a little below consensus expectations of $94.5 million. Also, non-GAAP operating loss is expected to be $15-18 million.</p><p><blockquote>管理层为第四季度提供了指引，略低于预期。收入预计为90-9300万美元，略低于普遍预期的9450万美元。此外，非GAAP运营亏损预计为15-1800万美元。</blockquote></p><p> On top of that, the company talked about their $1 billion revenue goal by 2025. Optically, it sounds great to say the company is going to generate $1 billion of revenue. Looking at little further into this, $1 billion of revenue would represent a growth CAGR of ~30% for the next four years. Yes, this is a very strong growth rate, but the stock's valuation is already pricing in high expectations.</p><p><blockquote>最重要的是，该公司谈到了到2025年实现10亿美元的收入目标。从视觉上看，说该公司将产生10亿美元的收入听起来很棒。进一步研究一下，10亿美元的收入将意味着未来四年的复合年增长率约为30%。是的，这是一个非常强劲的增长率，但该股的估值已经反映了高预期。</blockquote></p><p> <b>Other Recent Updates</b></p><p><blockquote><b>其他近期更新</b></blockquote></p><p> Back in June, the company went through a widely publicized service outage that resulted in the company issuing credit to customers, the slowdown of existing traffic expansion, and the loss of a top 10 customer. Rumors also surfaced that Amazon(NASDAQ:AMZN)stopped using Fastly's services after the outage and it seems like the service outage impacts continue to weigh on the stock.</p><p><blockquote>早在6月份，该公司就经历了一次广为人知的服务中断，导致该公司向客户发放信贷，现有流量扩张放缓，并失去了一名前10名客户。还有传言称，亚马逊（纳斯达克股票代码：AMZN）在停电后停止使用Fastly的服务，服务停电的影响似乎继续对该股造成压力。</blockquote></p><p> During the&nbsp;conference call,management was asked about the extent to which traffic volumes have started to come back from some of these larger clients.</p><p><blockquote>在电话会议期间，管理层被问及其中一些较大客户的客流量在多大程度上开始恢复。</blockquote></p><p>   So I think, as we've said, the top customer didn't return traffic, they returned to traffic. They do continue to ramp. The larger customers, when they come back, typically ramp their traffic back over time. I don't have a specific timeline, but they are back and that will increase over time.  So while the traffic continues to ramp, it seems like it could take several quarters for the traffic to fully come back, that is if Amazon (or other larger clients) wants to come back to FSLY.</p><p><blockquote>所以我认为，正如我们所说，顶级客户没有返回流量，他们返回了流量。他们确实在继续上升。当较大的客户回来时，通常会随着时间的推移增加他们的流量。我没有一个具体的时间表，但他们回来了，而且会随着时间的推移而增加。因此，虽然流量继续增加，但如果亚马逊（或其他更大的客户）想要回到FSLY，流量似乎需要几个季度才能完全恢复。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6f894336d393079f47e887e7418627c4\" tg-width=\"640\" tg-height=\"243\" width=\"100%\" height=\"auto\"><span>Source: CDN Traffic Share</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：CDN流量份额</span></p></blockquote></p><p> When looking at CDN Traffic Share, it continues to seem like Fastly has permanently lost a good chunk of their Amazon business. The charts above show the past 30-day CDN usage of Amazon, with the two primary resources being Amazon CloudFront and Akamai(NASDAQ:AKAM). Yes, Fastly is still seeing some traffic flow through their system, but they remain third on the totem pole and may have a long pathway back towards becoming a primary provider.</p><p><blockquote>从CDN流量份额来看，Fastly似乎已经永久失去了很大一部分亚马逊业务。上面的图表显示了亚马逊过去30天的CDN使用情况，两个主要资源是Amazon CloudFront和Akamai（纳斯达克：AKAM）。是的，Fastly仍然看到一些流量通过他们的系统，但他们仍然在图腾柱上排名第三，可能还有很长的路要走才能成为主要提供商。</blockquote></p><p> <b>Valuation</b></p><p><blockquote><b>估值</b></blockquote></p><p> Given the volatile news flow over the past several months, we have seen the stock trade in quite a volatile fashion, with +/- 3% days seemingly becoming the natural stock movement. Since reporting earnings, the stock has been down around 15% and remains well below their previous all-time high around $125.</p><p><blockquote>鉴于过去几个月不稳定的消息流，我们已经看到股票交易以相当不稳定的方式进行，+/-3%的天数似乎成为股票的自然走势。自公布财报以来，该股已下跌约15%，仍远低于之前125美元左右的历史高点。</blockquote></p><p> The volatility does provide some interesting entry points for investors to make short-term money, however, I continue to believe there remains some execution risk to the stock. I have long-term confidence in the company's edge platform, but I believe valuation fully reflects long-term confidence, and investors should approach with caution.</p><p><blockquote>波动性确实为投资者提供了一些有趣的短期赚钱切入点，但是，我仍然认为该股仍然存在一些执行风险。我对公司的边缘平台有长期信心，但我认为估值充分反映了长期信心，投资者应谨慎接近。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e487598a9a605d8dce902692a2f9ceb1\" tg-width=\"635\" tg-height=\"417\" width=\"100%\" height=\"auto\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> With a current market cap of $5.3 billion and net cash of $200 million, this results in the company having an enterprise value of $5.1 billion.</p><p><blockquote>目前市值为53亿美元，净现金为2亿美元，这使得该公司的企业价值为51亿美元。</blockquote></p><p> While the company did provide a 2025 revenue target of $1 billion, we can start to view valuation in a few different ways.</p><p><blockquote>虽然该公司确实提供了2025年10亿美元的收入目标，但我们可以开始以几种不同的方式看待估值。</blockquote></p><p> First, if we assume the stock will trade at a 10x forward revenue multiple at the end of 2024 and by using the company's $1 billion revenue target, this could imply an enterprise value of $10 billion by the end of 2024. Given that we are already near the end of 2021, this would imply enterprise value growing at a ~25% CAGR through 2024.</p><p><blockquote>首先，如果我们假设该股到2024年底的预期收入倍数为10倍，并使用该公司10亿美元的收入目标，这可能意味着到2024年底企业价值将达到100亿美元。鉴于我们已经接近2021年底，这意味着到2024年，企业价值将以约25%的复合年增长率增长。</blockquote></p><p> However, this valuation method is a little challenging because in a few years, revenue growth may be below the 30% CAGR that is expected through 2025. Thus, if the company is only growing 20-25% (and assuming profitability has significantly improved), then maybe the multiple is only 8-9x forward revenue, which would imply an enterprise value growth CAGR of ~15-20% for the next few years. That's still a solid return, but at current valuation, it does not leave much room for error.</p><p><blockquote>然而，这种估值方法有点挑战性，因为几年后，收入增长可能会低于预计到2025年的30%复合年增长率。因此，如果公司仅增长20-25%（假设盈利能力显着提高），那么该倍数可能仅为预期收入的8-9倍，这意味着未来企业价值复合年增长率约为15-20%几年。这仍然是一个稳定的回报，但以目前的估值来看，它没有留下太多的误差空间。</blockquote></p><p> Another way to view valuation could be the following. Part of the $1 billion of revenue by 2025 could come from inorganic contributions, thus, the company's valuation multiple should better reflect their organic growth rate. By adding acquisitions to the equation and assuming a lower organic growth, we can still get to the company's ~30% revenue growth CAGR, but maybe the forward revenue multiple pulls back towards 5-8x. In addition, this forward revenue multiple would assume a significant expansion in profitability margins and positive free cash flow.</p><p><blockquote>另一种看待估值的方式可能如下。到2025年，10亿美元收入的一部分可能来自无机贡献，因此，该公司的估值倍数应该更好地反映其有机增长率。通过将收购添加到等式中并假设较低的有机增长，我们仍然可以实现该公司约30%的收入增长复合年增长率，但远期收入倍数可能会回落至5-8倍。此外，这一远期收入倍数将假设利润率显着扩大和正的自由现金流。</blockquote></p><p></p><p> Under this scenario, we could see the stock's enterprise value grow at 10%+ CAGR over the next few years, which does not seem overly attractive considering the current valuation and embedded execution risks.</p><p><blockquote>在这种情况下，我们可能会看到该股的企业价值在未来几年以10%以上的复合年增长率增长，考虑到当前的估值和内在的执行风险，这似乎并没有太大的吸引力。</blockquote></p><p> The stock currently trades just under 17x forward revenue as investors have confidence in the long-term trajectory. However, I continue to remain on the sidelines for now and the stock already is pricing in a strong rebound. I think a better entry point would be under $40.</p><p><blockquote>由于投资者对长期发展轨迹充满信心，该股目前的预期收益略低于17倍。然而，我目前继续保持观望，该股已经预计将强劲反弹。我认为更好的切入点应该在40美元以下。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4470745-fastly-fsly-stock-on-the-sidelines-for-now\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSLY":"Fastly, Inc."},"source_url":"https://seekingalpha.com/article/4470745-fastly-fsly-stock-on-the-sidelines-for-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1150650904","content_text":"Summary\n\nFastly reported a better-than-expected Q3, though continued adjusted EBITDA losses and negative free cash flow are starting to drain the company's liquidity.\nManagement provided weaker-than-expected Q4 guidance, though the $1 billion revenue target by 2025 optically looks nice.\nValuation seems to be pricing in strong growth over the coming years, and at 17x forward revenue, I remain on the sidelines waiting for a better entry point.\n\nLeon Neal/Getty Images News\nFastly (FSLY) reported a good Q3 earnings with revenue above expectations, though the negative adjusted EBITDA and free cash flow continue to place questions around longer-term profitability. The stock has traded down around 15% since the company's earnings release, though continues to trade at a premium 17x forward revenue multiple.\nManagement also provided guidance for Q4 which seemed a little soft compared to expectations. On top of that, their $1 billion revenue target by 2025 seems positive at face value and represents a 30% growth CAGR, though they did acknowledge that some growth could come from M&A, meaning organic growth might be lower than 30%.\nData by YCharts\nWhile the growth prospects have improved, I still remain on the sidelines and wait for a better entry point. I believe there remains execution risk to the growth story and even though the $1 billion revenue target seems positive, I believe investors will turn their focus towards profitability and the potential need to tap the debt and/or equity markets to fund growth given their negative free cash flows.\nI last wrote about FSLY in mid-September when the stock was trading around $45 and noted a better entry point would be below $40. Since then, the stock has been quite volatile, yet we are still around the same $45 level.\nFastly operates a CDN (content delivery network). In other words, that have a network of services and data centers globally distributed that makes it easier for consumers to access faster internet. Through their edge cloud platform, FSLY's infrastructure is closer to the consumer's desired destination, which increases internet response times and can reduce latency.\nRecent Financial Review\nRevenue during Q3 grew 23% to $87 million, which came in just over $3 million above expectations for $83-84 million. Even though revenue had nearly $1 million impact from some write-downs associated with their Signal Sciences acquisition, growth was still pretty strong.\nHowever, the company's adjusted EBITDA loss came in around $5.4 million, which was much worse than the profit of $0.8 million last year. It also should be noted that within adjusted EBITDA, the company is adding back a lot of stock compensation, to the tune of $36.6 million during the quarter. On a GAAP basis, the company's net loss was over $56 million.\nYes, investors are still more focused around the company's revenue growth potential, which I will discuss later on, but eventually FSLY will need to demonstrate a path towards consistent profitability.\nSource: Company Presentation\nEven when looking at the company's free cash flow metrics, only once in the past 7+ quarters have been positive. The cash burn rate remains quite large and eventually we could see the company tap the debt and/or equity market for additional liquidity.\nWith almost $1.1 billion of cash and marketable securities combined with over $900 million of long-term debt, the company is sitting on just $200 million of net cash.\nOn a positive note, the company continues to expand their enterprise customer base, which reached 430 customers during the quarter. Net retention rate was 112%, which improved quite a bit from the 93% reported in the year-ago period.\nHowever, when we look at a dollar-based net expansion rate, this came in at 118% during the quarter, down from 126% last quarter. Yes, this metric remains well above 100%, which signals continued strong growth, but the sequential slowdown may wave a slight caution flag for some investors.\nSource: Company Presentation\nManagement provided guidance for Q4 which came in a little light of expectations. Revenue is expected to be $90-93 million and was a little below consensus expectations of $94.5 million. Also, non-GAAP operating loss is expected to be $15-18 million.\nOn top of that, the company talked about their $1 billion revenue goal by 2025. Optically, it sounds great to say the company is going to generate $1 billion of revenue. Looking at little further into this, $1 billion of revenue would represent a growth CAGR of ~30% for the next four years. Yes, this is a very strong growth rate, but the stock's valuation is already pricing in high expectations.\nOther Recent Updates\nBack in June, the company went through a widely publicized service outage that resulted in the company issuing credit to customers, the slowdown of existing traffic expansion, and the loss of a top 10 customer. Rumors also surfaced that Amazon(NASDAQ:AMZN)stopped using Fastly's services after the outage and it seems like the service outage impacts continue to weigh on the stock.\nDuring the conference call,management was asked about the extent to which traffic volumes have started to come back from some of these larger clients.\n\n So I think, as we've said, the top customer didn't return traffic, they returned to traffic. They do continue to ramp. The larger customers, when they come back, typically ramp their traffic back over time. I don't have a specific timeline, but they are back and that will increase over time.\n\nSo while the traffic continues to ramp, it seems like it could take several quarters for the traffic to fully come back, that is if Amazon (or other larger clients) wants to come back to FSLY.\nSource: CDN Traffic Share\nWhen looking at CDN Traffic Share, it continues to seem like Fastly has permanently lost a good chunk of their Amazon business. The charts above show the past 30-day CDN usage of Amazon, with the two primary resources being Amazon CloudFront and Akamai(NASDAQ:AKAM). Yes, Fastly is still seeing some traffic flow through their system, but they remain third on the totem pole and may have a long pathway back towards becoming a primary provider.\nValuation\nGiven the volatile news flow over the past several months, we have seen the stock trade in quite a volatile fashion, with +/- 3% days seemingly becoming the natural stock movement. Since reporting earnings, the stock has been down around 15% and remains well below their previous all-time high around $125.\nThe volatility does provide some interesting entry points for investors to make short-term money, however, I continue to believe there remains some execution risk to the stock. I have long-term confidence in the company's edge platform, but I believe valuation fully reflects long-term confidence, and investors should approach with caution.\nData by YCharts\nWith a current market cap of $5.3 billion and net cash of $200 million, this results in the company having an enterprise value of $5.1 billion.\nWhile the company did provide a 2025 revenue target of $1 billion, we can start to view valuation in a few different ways.\nFirst, if we assume the stock will trade at a 10x forward revenue multiple at the end of 2024 and by using the company's $1 billion revenue target, this could imply an enterprise value of $10 billion by the end of 2024. Given that we are already near the end of 2021, this would imply enterprise value growing at a ~25% CAGR through 2024.\nHowever, this valuation method is a little challenging because in a few years, revenue growth may be below the 30% CAGR that is expected through 2025. Thus, if the company is only growing 20-25% (and assuming profitability has significantly improved), then maybe the multiple is only 8-9x forward revenue, which would imply an enterprise value growth CAGR of ~15-20% for the next few years. That's still a solid return, but at current valuation, it does not leave much room for error.\nAnother way to view valuation could be the following. Part of the $1 billion of revenue by 2025 could come from inorganic contributions, thus, the company's valuation multiple should better reflect their organic growth rate. By adding acquisitions to the equation and assuming a lower organic growth, we can still get to the company's ~30% revenue growth CAGR, but maybe the forward revenue multiple pulls back towards 5-8x. In addition, this forward revenue multiple would assume a significant expansion in profitability margins and positive free cash flow.\nUnder this scenario, we could see the stock's enterprise value grow at 10%+ CAGR over the next few years, which does not seem overly attractive considering the current valuation and embedded execution risks.\nThe stock currently trades just under 17x forward revenue as investors have confidence in the long-term trajectory. However, I continue to remain on the sidelines for now and the stock already is pricing in a strong rebound. I think a better entry point would be under $40.","news_type":1,"symbols_score_info":{"FSLY":0.9}},"isVote":1,"tweetType":1,"viewCount":744,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":872415194,"gmtCreate":1637559465674,"gmtModify":1637559465674,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"Thanks for sharing","listText":"Thanks for sharing","text":"Thanks for 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you","listText":"Thank you","text":"Thank you","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/844750224","repostId":"1127316576","repostType":2,"isVote":1,"tweetType":1,"viewCount":562,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":321005919,"gmtCreate":1615382569531,"gmtModify":1703488180966,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MWK\">$Mohawk Group Holdings(MWK)$</a>Going up...","listText":"<a href=\"https://laohu8.com/S/MWK\">$Mohawk Group Holdings(MWK)$</a>Going up...","text":"$Mohawk Group Holdings(MWK)$Going up...","images":[{"img":"https://static.tigerbbs.com/83af35e477a7bb9892b491c2e59dc088","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321005919","isVote":1,"tweetType":1,"viewCount":560,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":323913561,"gmtCreate":1615298322153,"gmtModify":1703486935733,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MWK\">$Mohawk Group Holdings(MWK)$</a>Going up...","listText":"<a href=\"https://laohu8.com/S/MWK\">$Mohawk Group Holdings(MWK)$</a>Going up...","text":"$Mohawk Group Holdings(MWK)$Going up...","images":[{"img":"https://static.tigerbbs.com/31938ceb3851196a6607a1831ecdd321","width":"720","height":"1280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/323913561","isVote":1,"tweetType":1,"viewCount":475,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":329101738,"gmtCreate":1615213670924,"gmtModify":1703485758669,"author":{"id":"3572377913685934","authorId":"3572377913685934","name":"LianHin","avatar":"https://static.tigerbbs.com/0564df9bae4cecc584f8ca74257d30c3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3572377913685934","idStr":"3572377913685934"},"themes":[],"htmlText":"So true...","listText":"So true...","text":"So true...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/329101738","repostId":"1132314005","repostType":4,"repost":{"id":"1132314005","kind":"news","pubTimestamp":1615211001,"share":"https://www.laohu8.com/m/news/1132314005?lang=zh_CN&edition=full","pubTime":"2021-03-08 21:43","market":"us","language":"en","title":"How to handle market declines<blockquote>如何应对市场下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132314005","media":"Capital Group","summary":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demo","content":"<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>","source":"lsy1615210994562","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How to handle market declines<blockquote>如何应对市场下跌</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\">\nHow to handle market declines<blockquote>如何应对市场下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Capital Group</strong><span class=\"h-time small\">2021-03-08 21:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>You wouldn’t be human if you didn’t fear loss.</p><p><blockquote>如果你不害怕失去，你就不是人类。</blockquote></p><p> Nobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.</p><p><blockquote>诺贝尔奖获得者心理学家丹尼尔·卡尼曼用他的损失厌恶理论证明了这一点，表明人们更多地感受到损失的痛苦，而不是享受收益。当市场开始暴跌时，人们的本能是逃离市场，就像当股票暴涨时，贪婪会促使人们重新投入市场一样。两者都会产生负面影响。</blockquote></p><p> But smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.</p><p><blockquote>但明智的投资可以通过专注于相关研究、可靠的数据和经过验证的策略来克服情绪的力量。这里有七个原则可以帮助你在市场动荡时期抑制情绪化决策的冲动。</blockquote></p><p> <b>1. Market declines are part of investing</b></p><p><blockquote><b>1.市场下跌是投资的一部分</b></blockquote></p><p> Stocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.</p><p><blockquote>在过去十年的大部分时间里，股市一直在稳步上涨，但历史告诉我们，股市下跌是投资不可避免的一部分。好消息是，调整（定义为下跌10%或以上）、熊市（下跌20%或以上）和其他具有挑战性的时期并没有永远持续下去。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/de01aaa90e8493bebe0ce8650722d2a9\" tg-width=\"916\" tg-height=\"359\"></p><p><blockquote></blockquote></p><p> The Standard &amp; Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.</p><p><blockquote>根据1950年至2019年的数据，标准普尔500综合指数通常每年至少下跌10%，每六年下跌20%或更多。虽然过去的结果并不能预测未来的结果，但每次低迷之后都会出现复苏和市场新高。</blockquote></p><p> <b>2. Time in the market matters, not market timing</b></p><p><blockquote><b>2.重要的是市场时间，而不是市场时机</b></blockquote></p><p> No one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.</p><p><blockquote>没有人能够准确预测短期市场走势，袖手旁观的投资者可能会错过经济低迷后有意义的价格升值时期。</blockquote></p><p> Every S&amp;P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.</p><p><blockquote>从1929年到2019年，标普500每下降15%或以上，都会出现复苏。每次下跌后第一年的平均回报率为54%。</blockquote></p><p> Even missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&amp;P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.</p><p><blockquote>即使错过几个交易日也会造成损失。假设2010年对标普500的投资为1,000美元，到2019年底将增长到2,800多美元。但如果投资者错过了在此期间最好的10个交易日，他或她最终的收益就会减少33%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/5f6b5b3ae6b57cc31f1af5aebbc17fa2\" tg-width=\"916\" tg-height=\"517\"></p><p><blockquote></blockquote></p><p> <b>3. Emotional investing can be hazardous</b></p><p><blockquote><b>3.情感投资可能是危险的</b></blockquote></p><p> Kahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.</p><p><blockquote>卡尼曼因其在行为经济学方面的工作获得了2002年的诺贝尔奖，该领域研究个人如何做出财务决策。行为经济学家的一个关键发现是，人们在做出这样的选择时往往会做出非理性的行为。</blockquote></p><p> Emotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.</p><p><blockquote>对市场事件的情绪反应是完全正常的。当市场下跌时，投资者应该会感到紧张，但在此期间采取的行动可能意味着投资成功和失败之间的区别。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4ce214d221fe60c0d520aa334e3d7be7\" tg-width=\"916\" tg-height=\"448\"></p><p><blockquote></blockquote></p><p> One way to encourage rational investment decision-making is to understand the fundamentals of&nbsp;behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.</p><p><blockquote>鼓励理性投资决策的一个方法是理解行为经济学的基本原理。识别锚定、确认偏差和可用性偏差等行为可以帮助投资者在犯潜在错误之前识别它们。</blockquote></p><p> <b>4. Make a plan and stick to it</b></p><p><blockquote><b>4.制定计划并坚持下去</b></blockquote></p><p> Creating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.</p><p><blockquote>制定并坚持深思熟虑的投资计划是避免做出短视投资决策的另一种方法——尤其是当市场走低时。该计划应考虑许多因素，包括风险承受能力以及短期和长期目标。</blockquote></p><p> One way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.</p><p><blockquote>避免徒劳地尝试把握市场时机的一种方法是美元成本平均法，即无论市场涨跌如何，定期投资固定金额的资金。这种方法创建了一种策略，其中以较低的价格购买更多股票，以较高的价格购买更少股票。随着时间的推移，投资者平均每股支付的费用会减少。定期投资并不能确保盈利或防止损失。投资者应考虑在股价下跌时继续投资的意愿。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/c40068e959546f5e54c0a77a783a038b\" tg-width=\"916\" tg-height=\"501\"></p><p><blockquote></blockquote></p><p> Retirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.</p><p><blockquote>投资者用每份薪水自动向退休计划缴款，这是平均成本法的一个典型例子。</blockquote></p><p> <b>5. Diversification matters</b></p><p><blockquote><b>五、多元化事项</b></blockquote></p><p> A diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.</p><p><blockquote>多元化的投资组合并不能保证利润或保证投资不会贬值，但它确实有助于降低风险。通过将投资分散到各种资产类别，投资者可以缓冲波动对其投资组合的影响。总体回报不会达到任何单一投资的最高点，但也不会达到最低点。</blockquote></p><p> For investors who want to avoid some of the stress of downturns, diversification can help lower volatility.</p><p><blockquote>对于想要避免经济低迷压力的投资者来说，多元化有助于降低波动性。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a6b891f36b43c3ca3b7f9285cf8d0ca4\" tg-width=\"916\" tg-height=\"645\"></p><p><blockquote></blockquote></p><p></p><p> <b>6. Fixed income can help bring balance</b></p><p><blockquote><b>6.固定收益有助于带来平衡</b></blockquote></p><p> Stocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.</p><p><blockquote>股票是多元化投资组合的重要组成部分，但债券可以提供重要的平衡。这是因为债券通常与股市的相关性较低，这意味着当股市波动时，债券往往会波动。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/890a63f81150f3bfa535786be314ddea\" tg-width=\"916\" tg-height=\"537\"></p><p><blockquote></blockquote></p><p> What’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.</p><p><blockquote>更重要的是，股票相关性较低的债券可能有助于减轻股市损失对您整体投资组合的影响。提供这种多元化的基金可以帮助创建持久的投资组合，投资者应该通过各种市场寻找具有良好正回报记录的债券基金。</blockquote></p><p> Though bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.</p><p><blockquote>尽管债券可能无法与股票的增长潜力相匹配，但它们在过去的股市下跌中往往表现出弹性。例如，美国核心债券在过去六次调整中有五次持平或上涨。</blockquote></p><p> <b>7. The market tends to reward long-term investors</b></p><p><blockquote><b>7.市场倾向于回报长期投资者</b></blockquote></p><p> Is it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.</p><p><blockquote>期望每年30%的回报合理吗？当然不是。如果股市最近几周走低，你也不应该指望这是长期趋势的开始。行为经济学告诉我们，最近的事件对我们的感知和决策有着巨大的影响。</blockquote></p><p> It’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&amp;P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.</p><p><blockquote>保持长期观点总是很重要，尤其是在市场下跌的时候。尽管股票在短期内上涨和下跌，但它们往往会在较长时间内回报投资者。即使包括低迷时期，标普500在1937年至2019年的所有10年期间的平均年回报率为10.47%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/9a43c92755d55227a882d674690c39c3\" tg-width=\"795\" tg-height=\"532\"></p><p><blockquote></blockquote></p><p> It’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.</p><p><blockquote>在波动时期，情绪高涨是很自然的。那些能够忽略新闻并专注于长期目标的投资者能够更好地制定明智的投资策略。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html\">Capital Group</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.capitalgroup.com/advisor/insights/articles/handle-market-declines.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132314005","content_text":"You wouldn’t be human if you didn’t fear loss.\nNobel Prize-winning psychologist Daniel Kahneman demonstrated this with his loss aversion theory, showing that people feel the pain of losing money more than they enjoy gains. The natural instinct is to flee the market when it starts to plummet, just as greed prompts people to jump back in when stocks are skyrocketing. Both can have negative impacts.\nBut smart investing can overcome the power of emotion by focusing on relevant research, solid data and proven strategies. Here are seven principles that can help fight the urge to make emotional decisions in times of market turmoil.\n1. Market declines are part of investing\nStocks have risen steadily for most of the last decade, but history tells us that stock market declines are an inevitable part of investing. The good news is that corrections (defined as a 10% or more decline), bear markets (an extended 20% or more decline) and other challenging patches haven’t lasted forever.\n\nThe Standard & Poor’s 500 Composite Index has typically dipped at least 10% about once a year, and 20% or more about every six years, according to data from 1950 to 2019. While past results are not predictive of future results, each downturn has been followed by a recovery and a new market high.\n2. Time in the market matters, not market timing\nNo one can accurately predict short-term market moves, and investors who sit on the sidelines risk losing out on periods of meaningful price appreciation that follow downturns.\nEvery S&P 500 decline of 15% or more, from 1929 through 2019, has been followed by a recovery. The average return in the first year after each of these declines was 54%.\nEven missing out on just a few trading days can take a toll. A hypothetical investment of $1,000 in the S&P 500 made in 2010 would have grown to more than $2,800 by the end of 2019. But if an investor missed just the 10 best trading days during that period, he or she would have ended up with 33% less.\n\n3. Emotional investing can be hazardous\nKahneman won his Nobel Prize in 2002 for his work in behavioral economics, a field that investigates how individuals make financial decisions. A key finding of behavioral economists is that people often act irrationally when making such choices.\nEmotional reactions to market events are perfectly normal. Investors should expect to feel nervous when markets decline, but it’s the actions taken during such periods that can mean the difference between investment success and shortfall.\n\nOne way to encourage rational investment decision-making is to understand the fundamentals of behavioral economics. Recognizing behaviors like anchoring, confirmation bias and availability bias may help investors identify potential mistakes before they make them.\n4. Make a plan and stick to it\nCreating and adhering to a thoughtfully constructed investment plan is another way to avoid making short-sighted investment decisions — particularly when markets move lower. The plan should take into account a number of factors, including risk tolerance and short- and long-term goals.\nOne way to avoid futile attempts to time the market is with dollar cost averaging, where a fixed amount of money is invested at regular intervals, regardless of market ups and downs. This approach creates a strategy in which more shares are purchased at lower prices and fewer shares are purchased at higher prices. Over time investors pay less, on average, per share. Regular investing does not ensure a profit or protect against loss. Investors should consider their willingness to keep investing when share prices are declining.\n\nRetirement plans, to which investors make automatic contributions with every paycheck, are a prime example of dollar cost averaging.\n5. Diversification matters\nA diversified portfolio doesn’t guarantee profits or provide assurances that investments won’t decrease in value, but it does help lower risk. By spreading investments across a variety of asset classes, investors can buffer the effects of volatility on their portfolios. Overall returns won’t reach the highest highs of any single investment — but they won’t hit the lowest lows either.\nFor investors who want to avoid some of the stress of downturns, diversification can help lower volatility.\n\n6. Fixed income can help bring balance\nStocks are important building blocks of a diversified portfolio, but bonds can provide an essential counterbalance. That’s because bonds typically have low correlation to the stock market, meaning that they have tended to zig when the stock market zagged.\n\nWhat’s more, bonds with a low equity correlation can potentially help soften the impact of stock market losses on your overall portfolio. Funds providing this diversification can help create durable portfolios, and investors should seek bond funds with strong track records of positive returns through a variety of markets.\nThough bonds may not be able to match the growth potential of stocks, they have often shown resilience in past equity declines. For example, U.S. core bonds were flat or positive in five of the last six corrections.\n7. The market tends to reward long-term investors\nIs it reasonable to expect 30% returns every year? Of course not. And if stocks have moved lower in recent weeks, you shouldn’t expect that to be the start of a long-term trend, either. Behavioral economics tells us recent events carry an outsized influence on our perceptions and decisions.\nIt’s always important to maintain a long-term perspective, but especially when markets are declining. Although stocks rise and fall in the short term, they’ve tended to reward investors over longer periods of time. Even including downturns, the S&P 500’s average annual return over all 10-year periods from 1937 to 2019 was 10.47%.\n\nIt’s natural for emotions to bubble up during periods of volatility. Those investors who can tune out the news and focus on their long-term goals are better positioned to plot out a wise investment strategy.","news_type":1,"symbols_score_info":{".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}