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2021-03-08

Ok

Senseonics plunged more than 9%<blockquote>Senseonics暴跌超9%</blockquote>

2021-03-03

$KemPharm, Inc.(KMPH)$Anyone not able to sell during premarket?

2021-03-16

ok

The Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom<blockquote>特斯拉泡沫：对电动汽车的押注和SPAC的崛起导致了新版本的互联网繁荣</blockquote>

2021-03-11

Ok

抱歉，原内容已删除

2021-04-05

Ok

3 Beaten-Down Stocks That Could Double Your Money<blockquote>3只遭受重创的股票可以让你的钱翻倍</blockquote>

2021-02-27

Wow

Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>

2021-02-22

oh no

Buffett Sells Apple: Should Investors Worry?<blockquote>巴菲特抛售苹果：投资者应该担心吗？</blockquote>

2021-02-20

Nice

抱歉，原内容已删除

2021-02-16

Good

抱歉，原内容已删除

2021-04-06

Good news

抱歉，原内容已删除

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news","listText":"Good news","text":"Good 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20:26","market":"us","language":"en","title":"3 Beaten-Down Stocks That Could Double Your Money<blockquote>3只遭受重创的股票可以让你的钱翻倍</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188150614","media":"Motley Fool","summary":"Market rotation malaise has infected many investors. 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The big money appears to be moving into so-called \"risk-off\" stocks.</p><p><blockquote>市场轮动的萎靡已经感染了许多投资者。去年，成长股<b>纳斯达克100</b>指数击败了稳重的巨头<b>道琼斯工业平均指数</b>.不过，2021年到目前为止，情况有所不同。大笔资金似乎正在转向所谓的“避险”股票。</blockquote></p><p> As a result, many of the high-flyers from just a few months ago are now stuck in the doldrums. Some are even down more than 30% from their peaks set earlier this year. There's a silver lining in this dark cloud, however: Quite a few stocks with strong growth prospects are available at discounted prices.&nbsp;Here are three beaten-down stocks that could even double your money -- or more.</p><p><blockquote>结果，许多几个月前雄心勃勃的人现在都陷入了低迷。有些甚至比今年早些时候创下的峰值下降了30%以上。然而，乌云中也有一线希望：相当多具有强劲增长前景的股票可以打折购买。这里有三只遭受重创的股票，它们甚至可以让你的钱翻倍甚至更多。</blockquote></p><p> <b>DermTech</b></p><p><blockquote><b>皮肤技术</b></blockquote></p><p> <b>DermTech</b>(NASDAQ:DMTK)markets an exciting product: a skin genomics test that can detect melanoma more accurately and cheaper than surgical biopsy. Its shares soared over 145% year to date by the third week of February. Since then, though, thehealthcare stockhas fallen more than 35%.</p><p><blockquote><b>皮肤技术</b>（纳斯达克：DMTK）推出了一款令人兴奋的产品：一种皮肤基因组学测试，可以比手术活检更准确、更便宜地检测黑色素瘤。截至2月第三周，其股价今年迄今已飙升超过145%。不过，自那以来，医疗保健股已下跌超过35%。</blockquote></p><p> Part of the problem was the aforementioned general sell-off of growth stocks. However, DermTech also provided disappointing guidance in its fourth-quarter update. The company expects first-quarter assay revenue of between $1.6 million and $1.9 million compared to Q4 assay revenue of $1.6 million.</p><p><blockquote>部分问题在于前面提到的成长型股票的普遍抛售。然而，DermTech在第四季度更新中也提供了令人失望的指引。该公司预计第一季度检测收入在160万美元至190万美元之间，而第四季度检测收入为160万美元。</blockquote></p><p> DermTech still faces some COVID-19 headwinds in reaching out to physicians. The company's long-term growth prospects remain bright, though. DermTech continues to pick up commercial payer reimbursement for its first product, Pigmented Lesion Assay (PLA). It expects to launch an at-home genomics test that identifies ultraviolet ray damage and skin cancer risk next year.</p><p><blockquote>DermTech在接触医生方面仍然面临一些新冠肺炎的阻力。不过，该公司的长期增长前景仍然光明。DermTech继续为其首款产品色素性病变检测(PLA)获得商业付款人报销。它预计明年将推出一项家庭基因组学测试，以识别紫外线损伤和皮肤癌风险。</blockquote></p><p> The total addressable U.S. market that DermTech is targeting for all types of skin cancer is around $10 billion. With the company's market cap currently below $1.5 billion, DermTech should only have to capture a tiny sliver of this market to deliver huge returns for investors.</p><p><blockquote>DermTech针对所有类型皮肤癌的潜在美国市场总额约为100亿美元。由于该公司的市值目前低于15亿美元，DermTech应该只需占领这个市场的一小部分，就可以为投资者带来巨额回报。</blockquote></p><p> <b>Gores Holdings VI</b></p><p><blockquote><b>戈尔斯控股VI</b></blockquote></p><p> Special purpose acquisition company (SPAC) stocks were wildly popular not long ago. That's changed quite a bit.&nbsp;<b>Gores Holdings VI</b>(NASDAQ:GHVI)serves as a great example: The SPAC's shares skyrocketed more than 120% year to date by mid-February but are now down over 40% from those highs.</p><p><blockquote>特殊目的收购公司（SPAC）股票不久前广受欢迎。这已经改变了很多。<b>戈尔斯控股VI</b>（纳斯达克股票代码：GHVI）就是一个很好的例子：截至2月中旬，SPAC的股价今年迄今飙升了120%以上，但现在较高点下跌了40%以上。</blockquote></p><p> Gores Holdings VI and spatial data company Matterport announced on Feb. 8 that they plan to merge in a deal that will take Matterport public at an equity value of around $2.9 billion. But Matterport should be able to grow much larger than that relatively quickly.</p><p><blockquote>Gores Holdings VI和空间数据公司Matterport于2月8日宣布，他们计划合并，Matterport将以约29亿美元的股权价值上市。但Matterport应该能够相对较快地发展得更大。</blockquote></p><p> Matterport pioneered the spatial data market a decade ago. The company's technology can create a 3D \"digital twin\" of any physical space. Consulting firm<b>Accenture</b>recently picked digital twin technology asone of its top five tech trends of 2021.</p><p><blockquote>Matterport十年前开创了空间数据市场。该公司的技术可以创建任何物理空间的3D“数字孪生”。咨询公司<b>埃森哲</b>最近将数字孪生技术选为2021年五大技术趋势之一。</blockquote></p><p> The company already has over 250,000 customers, including 13% of the Fortune 1000. However, less than 1% of the more than 4 billion buildings across the world are currently digitized. This represents a $240 billion opportunity for Matterport. The company expects to nearly double its revenue in 2022 with growth accelerating in subsequent years.</p><p><blockquote>该公司已经拥有超过250,000名客户，其中包括财富1000强中的13%。然而，目前全球40多亿栋建筑中只有不到1%实现了数字化。这对Matterport来说意味着2400亿美元的机会。该公司预计2022年收入将增长近一倍，随后几年增长将加速。</blockquote></p><p> <b>Skillz</b></p><p><blockquote><b>斯基尔茨</b></blockquote></p><p> <b>Skillz</b>(NYSE:SKLZ)stands as the biggest loser of these three beaten-down stocks. Shares of the mobile game platform provider soared nearly 120% by early February only to give up all of those gains and then some. The stock is now down over 5% year to date.</p><p><blockquote><b>斯基尔茨</b>（纽约证券交易所股票代码：SKLZ）是这三只遭受重创的股票中跌幅最大的。截至2月初，这家移动游戏平台提供商的股价飙升近120%，但随后又回吐了全部涨幅，甚至部分涨幅。今年迄今为止，该股已下跌超过5%。</blockquote></p><p> Like DermTech and Gores Holdings VI, Skillz was negatively impacted by the market rotation away from growth stocks. However, the company's decision to sell 17 million shares in a public offering also hurt.</p><p><blockquote>与DermTech和Gores Holdings VI一样，Skillz也受到了市场远离成长型股票的负面影响。然而，该公司公开发行出售1700万股股票的决定也造成了伤害。</blockquote></p><p> Skillz's competition-focused approach keeps users more engaged than other leading online platforms. It's also driving tremendous growth. The company's revenue nearly doubled in 2020. Skillz is especially making inroads in converting users to paying customers.</p><p><blockquote>Skillz以竞争为中心的方法比其他领先的在线平台更能吸引用户。它也推动了巨大的增长。该公司的收入在2020年几乎翻了一番。Skillz在将用户转化为付费客户方面尤其取得了进展。</blockquote></p><p> The mobile gaming market totaled $86 billion last year and continues to grow rapidly. Skillz should be able to increase its market share as it expands internationally and adds new genres of games to its platform. The company's multi-year agreement with the NFL could also provide a big boost.</p><p><blockquote>去年移动游戏市场总额为860亿美元，并继续快速增长。随着Skillz在国际上扩张并在其平台上添加新类型的游戏，它应该能够增加其市场份额。该公司与NFL的多年协议也可能带来巨大推动。</blockquote></p><p> Skillz looks like a stock that could easily double your money and perhaps deliver much greater returns than that over the next couple of years.</p><p><blockquote>Skillz看起来像是一只可以轻松让你的钱翻倍的股票，并且在未来几年内可能会带来比这更高的回报。</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>3 Beaten-Down Stocks That Could Double Your Money<blockquote>3只遭受重创的股票可以让你的钱翻倍</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\">\n3 Beaten-Down Stocks That Could Double Your Money<blockquote>3只遭受重创的股票可以让你的钱翻倍</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-04-02 20:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Market rotation malaise has infected many investors. Last year, the growth stocks in the<b>Nasdaq-100</b>index trounced the staid giants in the<b>Dow Jones Industrial Average</b>. It's been a different story so far in 2021, though. The big money appears to be moving into so-called \"risk-off\" stocks.</p><p><blockquote>市场轮动的萎靡已经感染了许多投资者。去年，成长股<b>纳斯达克100</b>指数击败了稳重的巨头<b>道琼斯工业平均指数</b>.不过，2021年到目前为止，情况有所不同。大笔资金似乎正在转向所谓的“避险”股票。</blockquote></p><p> As a result, many of the high-flyers from just a few months ago are now stuck in the doldrums. Some are even down more than 30% from their peaks set earlier this year. There's a silver lining in this dark cloud, however: Quite a few stocks with strong growth prospects are available at discounted prices.&nbsp;Here are three beaten-down stocks that could even double your money -- or more.</p><p><blockquote>结果，许多几个月前雄心勃勃的人现在都陷入了低迷。有些甚至比今年早些时候创下的峰值下降了30%以上。然而，乌云中也有一线希望：相当多具有强劲增长前景的股票可以打折购买。这里有三只遭受重创的股票，它们甚至可以让你的钱翻倍甚至更多。</blockquote></p><p> <b>DermTech</b></p><p><blockquote><b>皮肤技术</b></blockquote></p><p> <b>DermTech</b>(NASDAQ:DMTK)markets an exciting product: a skin genomics test that can detect melanoma more accurately and cheaper than surgical biopsy. Its shares soared over 145% year to date by the third week of February. Since then, though, thehealthcare stockhas fallen more than 35%.</p><p><blockquote><b>皮肤技术</b>（纳斯达克：DMTK）推出了一款令人兴奋的产品：一种皮肤基因组学测试，可以比手术活检更准确、更便宜地检测黑色素瘤。截至2月第三周，其股价今年迄今已飙升超过145%。不过，自那以来，医疗保健股已下跌超过35%。</blockquote></p><p> Part of the problem was the aforementioned general sell-off of growth stocks. However, DermTech also provided disappointing guidance in its fourth-quarter update. The company expects first-quarter assay revenue of between $1.6 million and $1.9 million compared to Q4 assay revenue of $1.6 million.</p><p><blockquote>部分问题在于前面提到的成长型股票的普遍抛售。然而，DermTech在第四季度更新中也提供了令人失望的指引。该公司预计第一季度检测收入在160万美元至190万美元之间，而第四季度检测收入为160万美元。</blockquote></p><p> DermTech still faces some COVID-19 headwinds in reaching out to physicians. The company's long-term growth prospects remain bright, though. DermTech continues to pick up commercial payer reimbursement for its first product, Pigmented Lesion Assay (PLA). It expects to launch an at-home genomics test that identifies ultraviolet ray damage and skin cancer risk next year.</p><p><blockquote>DermTech在接触医生方面仍然面临一些新冠肺炎的阻力。不过，该公司的长期增长前景仍然光明。DermTech继续为其首款产品色素性病变检测(PLA)获得商业付款人报销。它预计明年将推出一项家庭基因组学测试，以识别紫外线损伤和皮肤癌风险。</blockquote></p><p> The total addressable U.S. market that DermTech is targeting for all types of skin cancer is around $10 billion. With the company's market cap currently below $1.5 billion, DermTech should only have to capture a tiny sliver of this market to deliver huge returns for investors.</p><p><blockquote>DermTech针对所有类型皮肤癌的潜在美国市场总额约为100亿美元。由于该公司的市值目前低于15亿美元，DermTech应该只需占领这个市场的一小部分，就可以为投资者带来巨额回报。</blockquote></p><p> <b>Gores Holdings VI</b></p><p><blockquote><b>戈尔斯控股VI</b></blockquote></p><p> Special purpose acquisition company (SPAC) stocks were wildly popular not long ago. That's changed quite a bit.&nbsp;<b>Gores Holdings VI</b>(NASDAQ:GHVI)serves as a great example: The SPAC's shares skyrocketed more than 120% year to date by mid-February but are now down over 40% from those highs.</p><p><blockquote>特殊目的收购公司（SPAC）股票不久前广受欢迎。这已经改变了很多。<b>戈尔斯控股VI</b>（纳斯达克股票代码：GHVI）就是一个很好的例子：截至2月中旬，SPAC的股价今年迄今飙升了120%以上，但现在较高点下跌了40%以上。</blockquote></p><p> Gores Holdings VI and spatial data company Matterport announced on Feb. 8 that they plan to merge in a deal that will take Matterport public at an equity value of around $2.9 billion. But Matterport should be able to grow much larger than that relatively quickly.</p><p><blockquote>Gores Holdings VI和空间数据公司Matterport于2月8日宣布，他们计划合并，Matterport将以约29亿美元的股权价值上市。但Matterport应该能够相对较快地发展得更大。</blockquote></p><p> Matterport pioneered the spatial data market a decade ago. The company's technology can create a 3D \"digital twin\" of any physical space. Consulting firm<b>Accenture</b>recently picked digital twin technology asone of its top five tech trends of 2021.</p><p><blockquote>Matterport十年前开创了空间数据市场。该公司的技术可以创建任何物理空间的3D“数字孪生”。咨询公司<b>埃森哲</b>最近将数字孪生技术选为2021年五大技术趋势之一。</blockquote></p><p> The company already has over 250,000 customers, including 13% of the Fortune 1000. However, less than 1% of the more than 4 billion buildings across the world are currently digitized. This represents a $240 billion opportunity for Matterport. The company expects to nearly double its revenue in 2022 with growth accelerating in subsequent years.</p><p><blockquote>该公司已经拥有超过250,000名客户，其中包括财富1000强中的13%。然而，目前全球40多亿栋建筑中只有不到1%实现了数字化。这对Matterport来说意味着2400亿美元的机会。该公司预计2022年收入将增长近一倍，随后几年增长将加速。</blockquote></p><p> <b>Skillz</b></p><p><blockquote><b>斯基尔茨</b></blockquote></p><p> <b>Skillz</b>(NYSE:SKLZ)stands as the biggest loser of these three beaten-down stocks. Shares of the mobile game platform provider soared nearly 120% by early February only to give up all of those gains and then some. The stock is now down over 5% year to date.</p><p><blockquote><b>斯基尔茨</b>（纽约证券交易所股票代码：SKLZ）是这三只遭受重创的股票中跌幅最大的。截至2月初，这家移动游戏平台提供商的股价飙升近120%，但随后又回吐了全部涨幅，甚至部分涨幅。今年迄今为止，该股已下跌超过5%。</blockquote></p><p> Like DermTech and Gores Holdings VI, Skillz was negatively impacted by the market rotation away from growth stocks. However, the company's decision to sell 17 million shares in a public offering also hurt.</p><p><blockquote>与DermTech和Gores Holdings VI一样，Skillz也受到了市场远离成长型股票的负面影响。然而，该公司公开发行出售1700万股股票的决定也造成了伤害。</blockquote></p><p> Skillz's competition-focused approach keeps users more engaged than other leading online platforms. It's also driving tremendous growth. The company's revenue nearly doubled in 2020. Skillz is especially making inroads in converting users to paying customers.</p><p><blockquote>Skillz以竞争为中心的方法比其他领先的在线平台更能吸引用户。它也推动了巨大的增长。该公司的收入在2020年几乎翻了一番。Skillz在将用户转化为付费客户方面尤其取得了进展。</blockquote></p><p> The mobile gaming market totaled $86 billion last year and continues to grow rapidly. Skillz should be able to increase its market share as it expands internationally and adds new genres of games to its platform. The company's multi-year agreement with the NFL could also provide a big boost.</p><p><blockquote>去年移动游戏市场总额为860亿美元，并继续快速增长。随着Skillz在国际上扩张并在其平台上添加新类型的游戏，它应该能够增加其市场份额。该公司与NFL的多年协议也可能带来巨大推动。</blockquote></p><p> Skillz looks like a stock that could easily double your money and perhaps deliver much greater returns than that over the next couple of years.</p><p><blockquote>Skillz看起来像是一只可以轻松让你的钱翻倍的股票，并且在未来几年内可能会带来比这更高的回报。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/02/3-beaten-down-stocks-that-could-double-your-money/\">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":{},"source_url":"https://www.fool.com/investing/2021/04/02/3-beaten-down-stocks-that-could-double-your-money/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188150614","content_text":"Market rotation malaise has infected many investors. Last year, the growth stocks in theNasdaq-100index trounced the staid giants in theDow Jones Industrial Average. It's been a different story so far in 2021, though. The big money appears to be moving into so-called \"risk-off\" stocks.\nAs a result, many of the high-flyers from just a few months ago are now stuck in the doldrums. Some are even down more than 30% from their peaks set earlier this year. There's a silver lining in this dark cloud, however: Quite a few stocks with strong growth prospects are available at discounted prices. Here are three beaten-down stocks that could even double your money -- or more.\nDermTech\nDermTech(NASDAQ:DMTK)markets an exciting product: a skin genomics test that can detect melanoma more accurately and cheaper than surgical biopsy. Its shares soared over 145% year to date by the third week of February. Since then, though, thehealthcare stockhas fallen more than 35%.\nPart of the problem was the aforementioned general sell-off of growth stocks. However, DermTech also provided disappointing guidance in its fourth-quarter update. The company expects first-quarter assay revenue of between $1.6 million and $1.9 million compared to Q4 assay revenue of $1.6 million.\nDermTech still faces some COVID-19 headwinds in reaching out to physicians. The company's long-term growth prospects remain bright, though. DermTech continues to pick up commercial payer reimbursement for its first product, Pigmented Lesion Assay (PLA). It expects to launch an at-home genomics test that identifies ultraviolet ray damage and skin cancer risk next year.\nThe total addressable U.S. market that DermTech is targeting for all types of skin cancer is around $10 billion. With the company's market cap currently below $1.5 billion, DermTech should only have to capture a tiny sliver of this market to deliver huge returns for investors.\nGores Holdings VI\nSpecial purpose acquisition company (SPAC) stocks were wildly popular not long ago. That's changed quite a bit. Gores Holdings VI(NASDAQ:GHVI)serves as a great example: The SPAC's shares skyrocketed more than 120% year to date by mid-February but are now down over 40% from those highs.\nGores Holdings VI and spatial data company Matterport announced on Feb. 8 that they plan to merge in a deal that will take Matterport public at an equity value of around $2.9 billion. But Matterport should be able to grow much larger than that relatively quickly.\nMatterport pioneered the spatial data market a decade ago. The company's technology can create a 3D \"digital twin\" of any physical space. Consulting firmAccenturerecently picked digital twin technology asone of its top five tech trends of 2021.\nThe company already has over 250,000 customers, including 13% of the Fortune 1000. However, less than 1% of the more than 4 billion buildings across the world are currently digitized. This represents a $240 billion opportunity for Matterport. The company expects to nearly double its revenue in 2022 with growth accelerating in subsequent years.\nSkillz\nSkillz(NYSE:SKLZ)stands as the biggest loser of these three beaten-down stocks. Shares of the mobile game platform provider soared nearly 120% by early February only to give up all of those gains and then some. The stock is now down over 5% year to date.\nLike DermTech and Gores Holdings VI, Skillz was negatively impacted by the market rotation away from growth stocks. However, the company's decision to sell 17 million shares in a public offering also hurt.\nSkillz's competition-focused approach keeps users more engaged than other leading online platforms. It's also driving tremendous growth. The company's revenue nearly doubled in 2020. Skillz is especially making inroads in converting users to paying customers.\nThe mobile gaming market totaled $86 billion last year and continues to grow rapidly. Skillz should be able to increase its market share as it expands internationally and adds new genres of games to its platform. The company's multi-year agreement with the NFL could also provide a big boost.\nSkillz looks like a stock that could easily double your money and perhaps deliver much greater returns than that over the next couple of years.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358075678,"gmtCreate":1616645843994,"gmtModify":1634524750067,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Not surprised considering how market makers are simply manipulating stock prices and making money off retail. Let’s see now how they get their profits","listText":"Not surprised considering how market makers are simply manipulating stock prices and making money off retail. Let’s see now how they get their profits","text":"Not surprised considering how market makers are simply manipulating stock prices and making money off retail. Let’s see now how they get their profits","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/358075678","repostId":"1110970491","repostType":4,"isVote":1,"tweetType":1,"viewCount":2330,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324764008,"gmtCreate":1616031937804,"gmtModify":1703496618440,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324764008","repostId":"1130073223","repostType":4,"isVote":1,"tweetType":1,"viewCount":1074,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325384329,"gmtCreate":1615865247461,"gmtModify":1703494180621,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/325384329","repostId":"1104334279","repostType":4,"repost":{"id":"1104334279","kind":"news","pubTimestamp":1615865048,"share":"https://www.laohu8.com/m/news/1104334279?lang=zh_CN&edition=full","pubTime":"2021-03-16 11:24","market":"us","language":"en","title":"The Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom<blockquote>特斯拉泡沫：对电动汽车的押注和SPAC的崛起导致了新版本的互联网繁荣</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104334279","media":"MarketWatch","summary":"Investors take on the role of venture capitalists as they look for the next big thing, overvaluing y","content":"<p>Investors take on the role of venture capitalists as they look for the next big thing, overvaluing young companies years before they could even begin to show the type of returns that would validate the valuation — sound familiar?</p><p><blockquote>投资者在寻找下一件大事时扮演了风险资本家的角色，在年轻公司开始展示验证估值的回报类型之前几年就高估了它们——听起来很熟悉吗？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f34bbf738000822f7553253aaaa88b3\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH插图/ISTOCKPHOTO</span></p></blockquote></p><p> In the 1990s, after seeing young tech stocks surge, investors wildly bet on young companies with little to no revenue on promises that a huge sea change was on the horizon for the global economy.</p><p><blockquote>20世纪90年代，在看到年轻的科技股飙升后，投资者疯狂押注于收入很少甚至没有收入的年轻公司，因为他们承诺全球经济即将发生巨大的变化。</blockquote></p><p> In the 2020s,something similar is happening: Young electric-vehicle and autonomous-vehicle stocks have been surging following the meteoric rise of Tesla Inc.&nbsp;and Chinese rivals like Nio Inc.,even though a fully electrified future for the automotive industry is years, or even decades, away.</p><p><blockquote>在2020年代，类似的事情正在发生：随着特斯拉公司和蔚来等中国竞争对手的迅速崛起，年轻的电动汽车和自动驾驶汽车股票一直在飙升，尽管汽车行业完全电气化的未来还需要数年甚至几十年的时间。</blockquote></p><p> This current unique bubble has been forming from a combination of a lot of cash looking for a home; the record number of special-purpose acquisition companies, or SPACs, going public; and investors looking for the next Tesla. The most crucial ingredient in that recipe is blank-check companies focused on buying electric-vehicle makers, which give both seasoned institutional and individual investors the chance to role-play as venture capitalists.</p><p><blockquote>这个当前独特的泡沫是由大量寻找家园的现金组合而成的；上市的特殊目的收购公司（SPAC）数量创历史新高；以及寻找下一个特斯拉的投资者。该配方中最关键的成分是专注于收购电动汽车制造商的空白支票公司，这为经验丰富的机构和个人投资者提供了扮演风险投资家角色的机会。</blockquote></p><p> “SPAC investors have been much more willing to speculate with the aim of buying ‘the next Tesla,'” said Matt Kennedy, senior IPO market strategist at Renaissance Capital, adding that the soaring returns in SPAC-land&nbsp;have attracted institutional buyers as well.</p><p><blockquote>Renaissance Capital高级IPO市场策略师Matt Kennedy表示：“SPAC投资者更愿意进行投机，目的是购买‘下一个特斯拉’。”他补充说，SPAC-land的飙升回报也吸引了机构买家。</blockquote></p><p> Some air may be leaking from the bubble, though. Tesla’s shares succumbed to the law of gravity in late February and early March, tumbling from their stratospheric heights and&nbsp;losing a stunning $277 billion in market value in a month. Those losses reversed, however, and as of Monday Tesla was worth basically the same as at the end of 2020 — eight times its valuation at the beginning of last year. Chinese rivals such as Nio, Li Auto Inc.&nbsp;and Xpeng Inc.&nbsp;were still down on the year, but had also bounced back from lows.</p><p><blockquote>不过，一些空气可能会从气泡中泄漏出来。特斯拉的股价在2月底和3月初屈服于万有引力定律，从平流层的高度暴跌，一个月内市值损失了惊人的2770亿美元。然而，这些损失得到了扭转，截至周一，特斯拉的市值与2020年底基本持平——是去年初估值的八倍。蔚来、理想汽车和小鹏汽车等中国竞争对手今年仍处于下滑状态，但也已从低点反弹。</blockquote></p><p> SPACs have continued to show rampant speculation throughout, as investors looked for the types of gains those stocks enjoyed in 2020.</p><p><blockquote>SPAC自始至终继续表现出猖獗的投机行为，因为投资者正在寻找这些股票在2020年享有的收益类型。</blockquote></p><p> “I think the electric-vehicle space is something where investors are chasing past returns,” said University of Florida Professor Jay Ritter, who has both invested in SPACs and shorted Tesla shares of late. “As with all bubbles, it’s hard to know where the turning point is going to be.”</p><p><blockquote>佛罗里达大学教授Jay Ritter表示：“我认为电动汽车领域是投资者追逐过去回报的领域。”他最近投资了SPAC并做空了特斯拉股票。“与所有泡沫一样，很难知道转折点会在哪里。”</blockquote></p><p> <b>Two cautionary examples of EV hype</b></p><p><blockquote><b>电动汽车炒作的两个警示例子</b></blockquote></p><p> Two EV companies are good examples of the caution needed by investors and the problems that exist in these early-stage ventures. Nikola Corp.&nbsp;was one of the early EV makers to get swept up and purchased by a SPAC, which then attracted an army of investors who drove prices sky high. But a short seller, Hindenburg Research, helped deflate that bubble.In September, Hindenburg published a detailed report, calling Nikola an “intricate fraud”&nbsp;and pointed out the company staged a deceiving video of a truck running on its hydrogen fuel-cell technology, when it was actually filmed slowly rolling down a hill, not running on its own power.</p><p><blockquote>两家电动汽车公司很好地说明了投资者需要谨慎以及这些早期企业存在的问题。Nikola Corp.是最早被SPAC收购的电动汽车制造商之一，随后吸引了大批投资者，将价格推高。但卖空者兴登堡研究公司帮助缩小了泡沫。9月，兴登堡发表了一份详细报告，称尼古拉是一个“错综复杂的欺诈行为”，并指出该公司制作了一段欺骗性视频，视频中一辆卡车使用其氢燃料电池技术行驶，而实际上它被拍摄到慢慢滚下山坡，而不是行驶靠自己的力量。</blockquote></p><p> Nikola, which surged to a peak of around $66 last July, before Hindenburg’s report, closed at $15.85 Tuesday.</p><p><blockquote>去年7月，在兴登堡报告发布之前，尼古拉股价飙升至66美元左右的峰值，周二收于15.85美元。</blockquote></p><p> While Nikola could be in the vaporware camp, Lucid Motors Inc., is another story. It is seen as a legitimate potential Tesla rival, based in Newark, Calif., not far from Tesla’s Silicon Valley manufacturing site in Fremont. Lucid was founded by Peter Rawlinson, the chief engineer of the Tesla Model S, and is developing an electric luxury sedan that is expected to launch this year, as well as an electric SUV.</p><p><blockquote>虽然Nikola可能属于vaporware阵营，但Lucid Motors Inc.则是另一回事。它被视为特斯拉合法的潜在竞争对手，总部位于加州纽瓦克，距离特斯拉位于硅谷的生产基地Fremont不远。Lucid由特斯拉Model S的首席工程师Peter Rawlinson创立，正在开发一款预计今年推出的电动豪华轿车，以及一款电动SUV。</blockquote></p><p> The mania around SPACs struck Lucid as well. After news leaked in January that Lucid was about to be acquired by a SPAC called Churchill Capital Group,shares in the SPAC surged to unreasonable levels as speculators jumped in. When the merger was actually announced in late February, it included an investment from Wall Street that valued the company far less than the public had,and its shares plunged.</p><p><blockquote>围绕SPAC的狂热也让Lucid感到震惊。在1月份Lucid即将被一家名为Churchill Capital Group的SPAC收购的消息泄露后，随着投机者的涌入，SPAC的股价飙升至不合理的水平。当合并在二月底真正宣布时，其中包括华尔街的一项投资，该投资对该公司的估值远低于公众，其股价暴跌。</blockquote></p><p> There could be plenty more pain for speculators looking to get in on EV companies. In January alone, according to Dealogic, 90 SPACs filed to go public. While only a handful of those companies actually said they plan to focus on electric vehicles or batteries, many did not identify a target industry or market for acquisitions but did mention a sustainable focus — for example, Switchback II&nbsp;of Dallas, which raised $275 million in its January IPO, said it intends to focus on companies in the “broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.”</p><p><blockquote>对于希望进入电动汽车公司的投机者来说，可能会面临更多痛苦。根据Dealogic的数据，仅在1月份，就有90家SPAC申请上市。虽然其中只有少数公司实际上表示计划专注于电动汽车或电池，但许多公司没有确定收购的目标行业或市场，但确实提到了可持续重点——例如，达拉斯的Switchback II在一月份的首次公开募股中筹集了2.75亿美元，表示打算专注于“广泛的能源转型或可持续发展领域的公司，目标是需要创新解决方案脱碳以实现关键减排目标的行业”。</blockquote></p><p></p><p> “Never underestimate the market’s ability to find products for people who have money. The market has more money than product right now. The shelf of near-ready IPOs was pretty bare, and laid more barren with COVID-19,” said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in an interview late last year. “So all of a sudden, there is good money looking for public companies. It’s incredible how fast this submarket has reformed around SPACS.”</p><p><blockquote>“永远不要低估市场为有钱人寻找产品的能力。现在市场上的钱比产品还多。几乎准备好的IPO货架上空空如也，新冠肺炎让它们变得更加贫瘠，”斯科特·加洛韦（Scott Galloway）是纽约大学斯特恩商学院（Stern School of Business）营销学教授，去年年底接受采访时表示。“所以突然之间，有很多资金在寻找上市公司。这个子市场围绕SPAC的改革速度之快令人难以置信。”</blockquote></p><p> Typical IPO buyers like Fidelity and Franklin Templeton are making large investments in SPACs through private investment in public equities, or PIPEs, the type of investment that pumped into Lucid as its SPAC traded much higher.</p><p><blockquote>富达(Fidelity)和富兰克林邓普顿(Franklin Templeton)等典型IPO买家正在通过对公共股票(PIPE)的私人投资对SPAC进行大量投资，这种投资类型在Lucid的SPAC交易大幅上涨时注入了Lucid。</blockquote></p><p> SPACs represent an unusual investment opportunity, because they take place in two phases. In the first phase, the blank-check company raises money in its IPO, the pre-acquisition phase, which can offer investors a good return. They also offer investors the ability to exit, with original funds intact, if a proposed acquisition is not to the liking of the investors.</p><p><blockquote>SPAC代表了一个不同寻常的投资机会，因为它们分两个阶段进行。在第一阶段，空白支票公司在首次公开募股（收购前阶段）筹集资金，这可以为投资者提供良好的回报。如果拟议的收购不符合投资者的喜好，它们还为投资者提供了退出的能力，原始资金完好无损。</blockquote></p><p> So far investors have had an excellent run in SPACs in general, especially hedge funds, or the SPAC mafia, Ritter said. According to Dealogic, a total of 262 blank-check companies went public in U.S. markets in 2020, with a current average performance of 21.3% for those 2020 deals. So far for 2021 IPO SPACs, though, the current average performance is 1.95%.</p><p><blockquote>里特表示，到目前为止，投资者总体上在SPAC方面表现出色，尤其是对冲基金或SPAC黑手党。根据Dealogic的数据，2020年共有262家空白支票公司在美国市场上市，目前这些2020年交易的平均表现为21.3%。不过，到目前为止，2021年IPO SPAC的平均表现为1.95%。</blockquote></p><p> Ritter was so impressed with the returns that he invested in a few SPACs himself in the aftermarket, after seeing his funds in an investment account earn barely anything in interest.</p><p><blockquote>里特对回报印象深刻，在看到自己投资账户中的资金几乎没有赚取任何利息后，他自己在售后市场投资了一些SPAC。</blockquote></p><p> “There is investor enthusiasm. Even though supply has been exploding, investor demand has been growing even faster,” Ritter said, adding that most of the electric-vehicle companies have chosen to go public via a SPAC and not the standard, more costly, IPO process.</p><p><blockquote>里特表示：“投资者热情高涨。尽管供应呈爆炸式增长，但投资者需求增长更快。”他补充说，大多数电动汽车公司都选择通过SPAC上市，而不是标准的、成本更高的IPO流程。</blockquote></p><p> SPACs are typically a better investment in the pre-acquisition phase, which can go as long as two years, the time limit set for companies to make an acquisition. Only early investors, though, are often able to receive the biggest security for their investment in SPACs. They usually receive a warrant with each share of the IPO, that entitles them to buy a share at a prearranged price. Public investors in the aftermarket deal don’t get this option,which is why hedge funds have zeroed in on SPACs as a sure thing.</p><p><blockquote>SPAC通常是收购前阶段更好的投资，收购前阶段可能长达两年，这是公司进行收购的时间限制。然而，通常只有早期投资者才能从SPAC的投资中获得最大的保障。他们通常会收到每股IPO股票的认股权证，使他们有权以预先安排的价格购买股票。售后交易的公共投资者没有这个选择，这就是为什么对冲基金肯定会将SPAC作为一件事。</blockquote></p><p> Ritter noted that even though he drives a Tesla himself, he has been short the stock.</p><p><blockquote>里特指出，尽管他自己驾驶特斯拉，但他一直做空该股。</blockquote></p><p> “When it got added to the S&amp;P 500, I shorted more shares. So far it’s been a wealth-losing activity for me,” Ritter said, adding that he also believes many investors are hoping for a repeat performance of Tesla. “Investors tend to chase past returns. Fifteen years ago it was investing in real estate, which ended badly; 21 years ago the internet bubble was about to peak.”</p><p><blockquote>里特表示：“当它被添加到标普500时，我做空了更多股票。到目前为止，这对我来说是一项财富损失活动。”他补充说，他还相信许多投资者都希望特斯拉的表现能够重演。“投资者倾向于追逐过去的回报。15年前是投资房地产，结局很糟糕；21年前互联网泡沫即将见顶。”</blockquote></p><p> <b>EV SPACs as the new dot-com bubble</b></p><p><blockquote><b>电动汽车SPAC成为新的互联网泡沫</b></blockquote></p><p> Just as the dot-com boom and bust of 1999-2000 was often compared with the tulip mania in the 17th century of the then-Dutch Republic, it is worth asking the same question about some of the different bubbles in the market today, from the GameStop Corp.&nbsp;insanity to the electric-vehicle hype.</p><p><blockquote>正如人们经常将1999-2000年的互联网繁荣和萧条与17世纪当时荷兰共和国的郁金香狂热进行比较一样，对于当今市场上的一些不同泡沫，也值得提出同样的问题，从游戏驿站公司的疯狂到电动汽车的炒作。</blockquote></p><p> During both the tulip boom and the dot-com boom, new and relatively unknown products were introduced, and prices (in futures contracts for tulips, stock prices for dot-com companies) reached staggering levels based on hype for potential demand that was not sustainable. Many companies like Pets.com and Webvan ultimately collapsed, with business ideas that were ahead of their time, while others took advantage of the market mania, such as WorldCom, which deceived investors with one of the biggest accounting frauds in history. Others survived and thrived, such as Amazon.com Inc.,which has soared to unbelievable heights of over $1.6 trillion in market value.</p><p><blockquote>在郁金香繁荣和互联网繁荣期间，新的和相对未知的产品被推出，价格（郁金香的期货合约，互联网公司的股票价格）达到了惊人的水平，这是基于对不可持续的潜在需求的炒作。许多像Pets.com和Webvan这样的公司最终倒闭了，它们的商业理念走在了时代的前面，而其他公司则利用了市场的狂热，比如世通公司，它用历史上最大的会计欺诈之一欺骗了投资者。其他公司幸存下来并蓬勃发展，例如亚马逊公司，其市值已飙升至超过1.6万亿美元的令人难以置信的高度。</blockquote></p><p> As the global automotive industry goes through a similar seismic shift, investors are banking on a similar phenomenon, but with electric cars, and autonomous vehicles replacing gas-fueled combustion engines. This includes companies in China, where another crop of EV companies seek to unseat Tesla in the most populated country in the world. Currently, though, electric cars currently make up only approximately 2% of global auto sales. Estimates for the future vary broadly, from a low-end forecast of 10% to 20% of cars sold by 2030 to as much as two-thirds of the market in the same time frame.</p><p><blockquote>随着全球汽车行业经历类似的翻天覆地的转变，投资者也寄希望于类似的现象，但电动汽车和自动驾驶汽车将取代燃气内燃机。这包括中国的公司，在中国，另一批电动汽车公司试图在世界上人口最多的国家取代特斯拉。但目前，电动汽车仅占全球汽车销量的2%左右。对未来的预测差异很大，从到2030年占汽车销量10%至20%的低端预测到同一时间内占市场的三分之二。</blockquote></p><p> With those predicted changes on the horizon, combined with Tesla’s gigantic stock gains in 2020, including its addition to the S&amp;P 500,have led to some crazy bets on unproven or early-stage technologies once again.</p><p><blockquote>随着这些预测的变化即将到来，再加上特斯拉在2020年股价的巨大上涨，包括加入标普500，再次导致了一些对未经证实或早期技术的疯狂押注。</blockquote></p><p></p><p> In 2020, 15 private electric-vehicle companies were purchased by blank-check companies and are now publicly traded, according to Renaissance Capital, which tracks IPOS and has its own IPO ETF.But most of them don’t have a proven technology or business model, little or no revenue and no profits in sight.</p><p><blockquote>据跟踪IPO并拥有自己的IPO ETF的Renaissance Capital称，2020年，有15家私营电动汽车公司被空白支票公司收购，目前已公开交易。但他们中的大多数没有经过验证的技术或商业模式，收入很少或没有，也看不到利润。</blockquote></p><p> “While this is an area with enormous potential, many of these companies are completely unproven,&nbsp;and investors have very little to go on in terms of their ability to win customers or scale manufacturing,” said Kennedy of Renaissance Capital.</p><p><blockquote>Renaissance Capital的肯尼迪表示：“虽然这是一个潜力巨大的领域，但其中许多公司完全未经证实，投资者在赢得客户或扩大制造规模的能力方面几乎没有什么可做的。”</blockquote></p><p> The U.S. EV targets of the blank check companies, such as Nikola, Lucid and Fisker Inc.,an electric-car startup in Los Angeles, have not manufactured a single electric vehicle for sale, or collected any revenue yet. But their market caps have soared, and&nbsp;the companies are promising huge gains in revenue in a short time period.</p><p><blockquote>空白支票公司的美国电动汽车目标，如Nikola、Lucid和洛杉矶电动汽车初创公司Fisker Inc.，尚未生产一辆电动汽车进行销售，也尚未获得任何收入。但它们的市值飙升，并且这些公司承诺在短时间内收入将大幅增长。</blockquote></p><p> These stocks have not traded on profit or revenue, but on pure speculation. Fisker saw its shares soar nearly 40% after&nbsp;a memo of understanding with Foxconn Technology Group,the manufacturer of Apple Inc.’s&nbsp;iPhones, to jointly produce more than 250,000 electric SUVs, possibly at FoxConn’s new factory in Wisconsin. The deal is for Fisker’s second model, and manufacturing would begin at the end of 2023, as it adopts a sort of Uber-like approach to contracting out high costs.</p><p><blockquote>这些股票的交易不是基于利润或收入，而是纯粹的投机。在与苹果公司iPhone制造商富士康科技集团签署谅解备忘录，共同生产超过25万辆电动SUV（可能在富士康位于威斯康辛州的新工厂）后，菲斯克股价飙升近40%。这笔交易是针对菲斯克的第二款车型，生产将于2023年底开始，因为它采用了一种类似Uber的方法来外包高成本。</blockquote></p><p> The history of Fisker shows why investors should be concerned. The original company, Fisker Automotive, went bankrupt in 2013, and its assets were purchased by a Chinese auto-parts company that has retained some brand rights and started up Fisker Inc. while saying goodbye to the founder who gave the company its name. Fisker’s first product, an electric SUV called the Ocean, is expected to be launched in late 2022.</p><p><blockquote>菲斯克的历史表明了投资者应该担心的原因。原公司Fisker Automotive于2013年破产，其资产被一家中国汽车零部件公司收购，该公司保留了部分品牌权，并在告别以该公司命名的创始人的同时创办了Fisker Inc.。菲斯克的首款产品是一款名为Ocean的电动SUV，预计将于2022年底推出。</blockquote></p><p> These are the types of investments that are more appropriate for venture capitalists, who are used to betting on companies without revenue or profits or even a product. The list of companies targeted by SPACs looking at the EV market or the sustainable-energy arena also includes companies making electric batteries, charging-station makers, and other components for EVs and AVs, such as Lidar.</p><p><blockquote>这些是更适合风险投资家的投资类型，他们习惯于押注于没有收入或利润甚至没有产品的公司。着眼于电动汽车市场或可持续能源领域的SPAC瞄准的公司名单还包括制造电池、充电站制造商以及电动汽车和自动驾驶汽车其他组件（例如激光雷达）的公司。</blockquote></p><p> Velodyne Lidar Inc.,makes technology that is used as part of the vision system in autonomous vehicles, and is now in the middle of a post-SPAC war. David Hall, who founded the Morgan Hill, Calif.-based company, and his wife are sparring with the investors&nbsp;who purchased Velodyne Lidar,and took the company public via a SPAC late last year. But since then, the Halls and Velodyne’s acquirers had a falling out.</p><p><blockquote>威力登激光雷达公司生产的技术被用作自动驾驶汽车视觉系统的一部分，目前正处于特殊目的收购公司后的战争中。大卫·霍尔(David Hall)创立了这家总部位于加利福尼亚州摩根山的公司，他和他的妻子正在与购买Velodyne Lidar的投资者争论，并于去年年底通过SPAC将该公司上市。但从那以后，霍尔夫妇和威力登的收购者闹翻了。</blockquote></p><p> Last month, the company named a new chairman and chief marketing officer following an investigation into the conduct of David Hall and Marta Thoma Hall, who held those positions, respectively, and terminated Marta Hall’s employment.</p><p><blockquote>上个月，在对分别担任这些职位的David Hall和Marta Thoma Hall的行为进行调查后，该公司任命了新的董事长和首席营销官，并终止了Marta Hall的雇佣关系。</blockquote></p><p> “The investigation concluded that Mr.&nbsp;Hall and Ms.&nbsp;Hall each behaved inappropriately with regard to board and company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with company officers and directors,”Velodyne said in a statement&nbsp;and regulatory filing in late February.</p><p><blockquote>威力登在一份声明中表示：“调查得出的结论是，霍尔先生和霍尔女士在董事会和公司流程方面的行为都不恰当，并且在与公司高管和董事打交道时未能尊重、诚实、正直和坦率。”二月底的声明和监管文件。</blockquote></p><p> The two remain directors of the company that ousted them, as well as majority owners, with a 58.4% ownership of common stock in Velodyne.</p><p><blockquote>这两人仍然是驱逐他们的公司的董事，也是大股东，拥有威力登58.4%的普通股所有权。</blockquote></p><p> “To be completely clear: I chose to resign from the board because I had numerous concerns about the strategic direction and current leadership of Velodyne Lidar,” David Hall said in a statement last week. “I firmly believe that the board has fostered an anti-stockholder culture and that Velodyne Lidar’s corporate governance is broken. Perhaps most unsettling was the board’s decision to rubber-stamp an increased compensation package for Mr. [Anand] Gopalan despite the Company releasing weak Q4 2020 earnings and missing year-end forecasts.”</p><p><blockquote>David Hall在上周的一份声明中表示：“完全明确的是：我选择辞去董事会职务，因为我对Velodyne Lidar的战略方向和当前领导层有很多担忧。”“我坚信董事会营造了一种反股东文化，Velodyne Lidar的公司治理被打破。也许最令人不安的是董事会决定批准增加[Anand]Gopalan先生的薪酬方案，尽管该公司发布了疲软的2020年第四季度收益且未达到年终预测。”</blockquote></p><p> Gopalan is Veloydyne’s chief executive.</p><p><blockquote>戈帕兰是Veloydyne的首席执行官。</blockquote></p><p> A few weeks ago, Hall told The Wall Street Journal that the moves were a “well-played-out plan to hijack the corporation by the SPAC guys.” The Halls were not immediately available for an interview, their spokesman said.</p><p><blockquote>几周前，霍尔告诉《华尔街日报》，这些举措是“SPAC人员精心策划的劫持公司的计划”。他们的发言人说，大厅不能立即接受采访。</blockquote></p><p> The Velodyne saga is one that can often happen at startup companies that are not yet ready for prime time, when entrenched founders spar with their investors. One high-profile example that did made its way into the press in recent years was when VC investors&nbsp;pushed for the ouster of co-founder Travis Kalanick&nbsp;at Uber Technologies,long before the company went public.</p><p><blockquote>威力登传奇经常发生在尚未准备好迎接黄金时间的初创公司，当根深蒂固的创始人与投资者发生争执时。近年来，一个引人注目的例子确实出现在媒体上，那就是早在Uber Technologies上市之前，风险投资者就推动该公司联合创始人特拉维斯·卡兰尼克(Travis Kalanick)下台。</blockquote></p><p></p><p> So while SPACs may represent the democratization of venture-capital investing, where average retail investors have a more even playing field with Silicon Valley venture capitalists, getting in at the very early stages of young companies, it is also the democratizing the huge amounts of risk that are typically borne by professional investors. But unlike venture capitalists, who spread out their investments across a group of at least 10 various young or high-risk companies, knowing that most will fail as they hope to hit one big winner, individuals have a lot more to lose.</p><p><blockquote>因此，虽然SPAC可能代表着风险资本投资的民主化，普通散户投资者与硅谷风险资本家有一个更加公平的竞争环境，在年轻公司的早期阶段进入，但这也是通常由专业投资者承担的巨额风险的民主化。但与风险投资家不同的是，风险投资家将投资分散到至少10家不同的年轻或高风险公司，他们知道大多数公司都会失败，因为他们希望获得一个大赢家，而个人会损失更多。</blockquote></p><p> “The SPACs we are seeing now are focused on somewhat VC-like companies. Many of these companies don’t have revenue, they don’t have positive cash flow or earnings. It’s kind of like a VC in a liquid form, via a SPAC,” said Robert Davis, a partner and chief investment officer of Round Table Wealth Management. “Not all these SPACs are going to be great.”</p><p><blockquote>“我们现在看到的SPAC专注于有点类似VC的公司。其中许多公司没有收入，没有正现金流或收益。这有点像流动形式的VC，通过SPAC，”Round Table Wealth Management合伙人兼首席投资官罗伯特·戴维斯(Robert Davis)表示。“并非所有这些SPAC都会很棒。”</blockquote></p><p> There is a lot of risk in many of these deals, especially in the “pre-revenue” bunch.</p><p><blockquote>这些交易中有很多风险，尤其是在“收入前”交易中。</blockquote></p><p> “This is a little bit like in the Middle Ages, alchemists would take base metal and turn it into gold,” said Sandeep Dahiya, associate professor of entrepreneurship at&nbsp;Georgetown’s McDonough School of Business.“SPACs are like that: ‘Here, give us your money and we will try to make you rich.’ Let’s see how that plays out.”</p><p><blockquote>“这有点像中世纪，炼金术士会把贱金属变成黄金，”乔治敦大学麦克多诺商学院创业学副教授Sandeep Dahiya说，“SPAC就像这样：‘在这里，把你的钱给我们，我们会努力让你变得富有。’让我们看看结果如何。”</blockquote></p><p> For most investors, especially the average retail investor who did not get in early like the hedge funds, it will likely not end well in the short term. Anyone who is betting on long-term returns will need to choose wisely, and be wary of the SPAC flavor of the day.</p><p><blockquote>对于大多数投资者，尤其是没有像对冲基金那样提前入场的普通散户投资者来说，短期内可能不会有好结果。任何押注长期回报的人都需要做出明智的选择，并警惕当时的特殊目的收购公司风格。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom<blockquote>特斯拉泡沫：对电动汽车的押注和SPAC的崛起导致了新版本的互联网繁荣</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom<blockquote>特斯拉泡沫：对电动汽车的押注和SPAC的崛起导致了新版本的互联网繁荣</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-16 11:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Investors take on the role of venture capitalists as they look for the next big thing, overvaluing young companies years before they could even begin to show the type of returns that would validate the valuation — sound familiar?</p><p><blockquote>投资者在寻找下一件大事时扮演了风险资本家的角色，在年轻公司开始展示验证估值的回报类型之前几年就高估了它们——听起来很熟悉吗？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f34bbf738000822f7553253aaaa88b3\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH插图/ISTOCKPHOTO</span></p></blockquote></p><p> In the 1990s, after seeing young tech stocks surge, investors wildly bet on young companies with little to no revenue on promises that a huge sea change was on the horizon for the global economy.</p><p><blockquote>20世纪90年代，在看到年轻的科技股飙升后，投资者疯狂押注于收入很少甚至没有收入的年轻公司，因为他们承诺全球经济即将发生巨大的变化。</blockquote></p><p> In the 2020s,something similar is happening: Young electric-vehicle and autonomous-vehicle stocks have been surging following the meteoric rise of Tesla Inc.&nbsp;and Chinese rivals like Nio Inc.,even though a fully electrified future for the automotive industry is years, or even decades, away.</p><p><blockquote>在2020年代，类似的事情正在发生：随着特斯拉公司和蔚来等中国竞争对手的迅速崛起，年轻的电动汽车和自动驾驶汽车股票一直在飙升，尽管汽车行业完全电气化的未来还需要数年甚至几十年的时间。</blockquote></p><p> This current unique bubble has been forming from a combination of a lot of cash looking for a home; the record number of special-purpose acquisition companies, or SPACs, going public; and investors looking for the next Tesla. The most crucial ingredient in that recipe is blank-check companies focused on buying electric-vehicle makers, which give both seasoned institutional and individual investors the chance to role-play as venture capitalists.</p><p><blockquote>这个当前独特的泡沫是由大量寻找家园的现金组合而成的；上市的特殊目的收购公司（SPAC）数量创历史新高；以及寻找下一个特斯拉的投资者。该配方中最关键的成分是专注于收购电动汽车制造商的空白支票公司，这为经验丰富的机构和个人投资者提供了扮演风险投资家角色的机会。</blockquote></p><p> “SPAC investors have been much more willing to speculate with the aim of buying ‘the next Tesla,'” said Matt Kennedy, senior IPO market strategist at Renaissance Capital, adding that the soaring returns in SPAC-land&nbsp;have attracted institutional buyers as well.</p><p><blockquote>Renaissance Capital高级IPO市场策略师Matt Kennedy表示：“SPAC投资者更愿意进行投机，目的是购买‘下一个特斯拉’。”他补充说，SPAC-land的飙升回报也吸引了机构买家。</blockquote></p><p> Some air may be leaking from the bubble, though. Tesla’s shares succumbed to the law of gravity in late February and early March, tumbling from their stratospheric heights and&nbsp;losing a stunning $277 billion in market value in a month. Those losses reversed, however, and as of Monday Tesla was worth basically the same as at the end of 2020 — eight times its valuation at the beginning of last year. Chinese rivals such as Nio, Li Auto Inc.&nbsp;and Xpeng Inc.&nbsp;were still down on the year, but had also bounced back from lows.</p><p><blockquote>不过，一些空气可能会从气泡中泄漏出来。特斯拉的股价在2月底和3月初屈服于万有引力定律，从平流层的高度暴跌，一个月内市值损失了惊人的2770亿美元。然而，这些损失得到了扭转，截至周一，特斯拉的市值与2020年底基本持平——是去年初估值的八倍。蔚来、理想汽车和小鹏汽车等中国竞争对手今年仍处于下滑状态，但也已从低点反弹。</blockquote></p><p> SPACs have continued to show rampant speculation throughout, as investors looked for the types of gains those stocks enjoyed in 2020.</p><p><blockquote>SPAC自始至终继续表现出猖獗的投机行为，因为投资者正在寻找这些股票在2020年享有的收益类型。</blockquote></p><p> “I think the electric-vehicle space is something where investors are chasing past returns,” said University of Florida Professor Jay Ritter, who has both invested in SPACs and shorted Tesla shares of late. “As with all bubbles, it’s hard to know where the turning point is going to be.”</p><p><blockquote>佛罗里达大学教授Jay Ritter表示：“我认为电动汽车领域是投资者追逐过去回报的领域。”他最近投资了SPAC并做空了特斯拉股票。“与所有泡沫一样，很难知道转折点会在哪里。”</blockquote></p><p> <b>Two cautionary examples of EV hype</b></p><p><blockquote><b>电动汽车炒作的两个警示例子</b></blockquote></p><p> Two EV companies are good examples of the caution needed by investors and the problems that exist in these early-stage ventures. Nikola Corp.&nbsp;was one of the early EV makers to get swept up and purchased by a SPAC, which then attracted an army of investors who drove prices sky high. But a short seller, Hindenburg Research, helped deflate that bubble.In September, Hindenburg published a detailed report, calling Nikola an “intricate fraud”&nbsp;and pointed out the company staged a deceiving video of a truck running on its hydrogen fuel-cell technology, when it was actually filmed slowly rolling down a hill, not running on its own power.</p><p><blockquote>两家电动汽车公司很好地说明了投资者需要谨慎以及这些早期企业存在的问题。Nikola Corp.是最早被SPAC收购的电动汽车制造商之一，随后吸引了大批投资者，将价格推高。但卖空者兴登堡研究公司帮助缩小了泡沫。9月，兴登堡发表了一份详细报告，称尼古拉是一个“错综复杂的欺诈行为”，并指出该公司制作了一段欺骗性视频，视频中一辆卡车使用其氢燃料电池技术行驶，而实际上它被拍摄到慢慢滚下山坡，而不是行驶靠自己的力量。</blockquote></p><p> Nikola, which surged to a peak of around $66 last July, before Hindenburg’s report, closed at $15.85 Tuesday.</p><p><blockquote>去年7月，在兴登堡报告发布之前，尼古拉股价飙升至66美元左右的峰值，周二收于15.85美元。</blockquote></p><p> While Nikola could be in the vaporware camp, Lucid Motors Inc., is another story. It is seen as a legitimate potential Tesla rival, based in Newark, Calif., not far from Tesla’s Silicon Valley manufacturing site in Fremont. Lucid was founded by Peter Rawlinson, the chief engineer of the Tesla Model S, and is developing an electric luxury sedan that is expected to launch this year, as well as an electric SUV.</p><p><blockquote>虽然Nikola可能属于vaporware阵营，但Lucid Motors Inc.则是另一回事。它被视为特斯拉合法的潜在竞争对手，总部位于加州纽瓦克，距离特斯拉位于硅谷的生产基地Fremont不远。Lucid由特斯拉Model S的首席工程师Peter Rawlinson创立，正在开发一款预计今年推出的电动豪华轿车，以及一款电动SUV。</blockquote></p><p> The mania around SPACs struck Lucid as well. After news leaked in January that Lucid was about to be acquired by a SPAC called Churchill Capital Group,shares in the SPAC surged to unreasonable levels as speculators jumped in. When the merger was actually announced in late February, it included an investment from Wall Street that valued the company far less than the public had,and its shares plunged.</p><p><blockquote>围绕SPAC的狂热也让Lucid感到震惊。在1月份Lucid即将被一家名为Churchill Capital Group的SPAC收购的消息泄露后，随着投机者的涌入，SPAC的股价飙升至不合理的水平。当合并在二月底真正宣布时，其中包括华尔街的一项投资，该投资对该公司的估值远低于公众，其股价暴跌。</blockquote></p><p> There could be plenty more pain for speculators looking to get in on EV companies. In January alone, according to Dealogic, 90 SPACs filed to go public. While only a handful of those companies actually said they plan to focus on electric vehicles or batteries, many did not identify a target industry or market for acquisitions but did mention a sustainable focus — for example, Switchback II&nbsp;of Dallas, which raised $275 million in its January IPO, said it intends to focus on companies in the “broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.”</p><p><blockquote>对于希望进入电动汽车公司的投机者来说，可能会面临更多痛苦。根据Dealogic的数据，仅在1月份，就有90家SPAC申请上市。虽然其中只有少数公司实际上表示计划专注于电动汽车或电池，但许多公司没有确定收购的目标行业或市场，但确实提到了可持续重点——例如，达拉斯的Switchback II在一月份的首次公开募股中筹集了2.75亿美元，表示打算专注于“广泛的能源转型或可持续发展领域的公司，目标是需要创新解决方案脱碳以实现关键减排目标的行业”。</blockquote></p><p></p><p> “Never underestimate the market’s ability to find products for people who have money. The market has more money than product right now. The shelf of near-ready IPOs was pretty bare, and laid more barren with COVID-19,” said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in an interview late last year. “So all of a sudden, there is good money looking for public companies. It’s incredible how fast this submarket has reformed around SPACS.”</p><p><blockquote>“永远不要低估市场为有钱人寻找产品的能力。现在市场上的钱比产品还多。几乎准备好的IPO货架上空空如也，新冠肺炎让它们变得更加贫瘠，”斯科特·加洛韦（Scott Galloway）是纽约大学斯特恩商学院（Stern School of Business）营销学教授，去年年底接受采访时表示。“所以突然之间，有很多资金在寻找上市公司。这个子市场围绕SPAC的改革速度之快令人难以置信。”</blockquote></p><p> Typical IPO buyers like Fidelity and Franklin Templeton are making large investments in SPACs through private investment in public equities, or PIPEs, the type of investment that pumped into Lucid as its SPAC traded much higher.</p><p><blockquote>富达(Fidelity)和富兰克林邓普顿(Franklin Templeton)等典型IPO买家正在通过对公共股票(PIPE)的私人投资对SPAC进行大量投资，这种投资类型在Lucid的SPAC交易大幅上涨时注入了Lucid。</blockquote></p><p> SPACs represent an unusual investment opportunity, because they take place in two phases. In the first phase, the blank-check company raises money in its IPO, the pre-acquisition phase, which can offer investors a good return. They also offer investors the ability to exit, with original funds intact, if a proposed acquisition is not to the liking of the investors.</p><p><blockquote>SPAC代表了一个不同寻常的投资机会，因为它们分两个阶段进行。在第一阶段，空白支票公司在首次公开募股（收购前阶段）筹集资金，这可以为投资者提供良好的回报。如果拟议的收购不符合投资者的喜好，它们还为投资者提供了退出的能力，原始资金完好无损。</blockquote></p><p> So far investors have had an excellent run in SPACs in general, especially hedge funds, or the SPAC mafia, Ritter said. According to Dealogic, a total of 262 blank-check companies went public in U.S. markets in 2020, with a current average performance of 21.3% for those 2020 deals. So far for 2021 IPO SPACs, though, the current average performance is 1.95%.</p><p><blockquote>里特表示，到目前为止，投资者总体上在SPAC方面表现出色，尤其是对冲基金或SPAC黑手党。根据Dealogic的数据，2020年共有262家空白支票公司在美国市场上市，目前这些2020年交易的平均表现为21.3%。不过，到目前为止，2021年IPO SPAC的平均表现为1.95%。</blockquote></p><p> Ritter was so impressed with the returns that he invested in a few SPACs himself in the aftermarket, after seeing his funds in an investment account earn barely anything in interest.</p><p><blockquote>里特对回报印象深刻，在看到自己投资账户中的资金几乎没有赚取任何利息后，他自己在售后市场投资了一些SPAC。</blockquote></p><p> “There is investor enthusiasm. Even though supply has been exploding, investor demand has been growing even faster,” Ritter said, adding that most of the electric-vehicle companies have chosen to go public via a SPAC and not the standard, more costly, IPO process.</p><p><blockquote>里特表示：“投资者热情高涨。尽管供应呈爆炸式增长，但投资者需求增长更快。”他补充说，大多数电动汽车公司都选择通过SPAC上市，而不是标准的、成本更高的IPO流程。</blockquote></p><p> SPACs are typically a better investment in the pre-acquisition phase, which can go as long as two years, the time limit set for companies to make an acquisition. Only early investors, though, are often able to receive the biggest security for their investment in SPACs. They usually receive a warrant with each share of the IPO, that entitles them to buy a share at a prearranged price. Public investors in the aftermarket deal don’t get this option,which is why hedge funds have zeroed in on SPACs as a sure thing.</p><p><blockquote>SPAC通常是收购前阶段更好的投资，收购前阶段可能长达两年，这是公司进行收购的时间限制。然而，通常只有早期投资者才能从SPAC的投资中获得最大的保障。他们通常会收到每股IPO股票的认股权证，使他们有权以预先安排的价格购买股票。售后交易的公共投资者没有这个选择，这就是为什么对冲基金肯定会将SPAC作为一件事。</blockquote></p><p> Ritter noted that even though he drives a Tesla himself, he has been short the stock.</p><p><blockquote>里特指出，尽管他自己驾驶特斯拉，但他一直做空该股。</blockquote></p><p> “When it got added to the S&amp;P 500, I shorted more shares. So far it’s been a wealth-losing activity for me,” Ritter said, adding that he also believes many investors are hoping for a repeat performance of Tesla. “Investors tend to chase past returns. Fifteen years ago it was investing in real estate, which ended badly; 21 years ago the internet bubble was about to peak.”</p><p><blockquote>里特表示：“当它被添加到标普500时，我做空了更多股票。到目前为止，这对我来说是一项财富损失活动。”他补充说，他还相信许多投资者都希望特斯拉的表现能够重演。“投资者倾向于追逐过去的回报。15年前是投资房地产，结局很糟糕；21年前互联网泡沫即将见顶。”</blockquote></p><p> <b>EV SPACs as the new dot-com bubble</b></p><p><blockquote><b>电动汽车SPAC成为新的互联网泡沫</b></blockquote></p><p> Just as the dot-com boom and bust of 1999-2000 was often compared with the tulip mania in the 17th century of the then-Dutch Republic, it is worth asking the same question about some of the different bubbles in the market today, from the GameStop Corp.&nbsp;insanity to the electric-vehicle hype.</p><p><blockquote>正如人们经常将1999-2000年的互联网繁荣和萧条与17世纪当时荷兰共和国的郁金香狂热进行比较一样，对于当今市场上的一些不同泡沫，也值得提出同样的问题，从游戏驿站公司的疯狂到电动汽车的炒作。</blockquote></p><p> During both the tulip boom and the dot-com boom, new and relatively unknown products were introduced, and prices (in futures contracts for tulips, stock prices for dot-com companies) reached staggering levels based on hype for potential demand that was not sustainable. Many companies like Pets.com and Webvan ultimately collapsed, with business ideas that were ahead of their time, while others took advantage of the market mania, such as WorldCom, which deceived investors with one of the biggest accounting frauds in history. Others survived and thrived, such as Amazon.com Inc.,which has soared to unbelievable heights of over $1.6 trillion in market value.</p><p><blockquote>在郁金香繁荣和互联网繁荣期间，新的和相对未知的产品被推出，价格（郁金香的期货合约，互联网公司的股票价格）达到了惊人的水平，这是基于对不可持续的潜在需求的炒作。许多像Pets.com和Webvan这样的公司最终倒闭了，它们的商业理念走在了时代的前面，而其他公司则利用了市场的狂热，比如世通公司，它用历史上最大的会计欺诈之一欺骗了投资者。其他公司幸存下来并蓬勃发展，例如亚马逊公司，其市值已飙升至超过1.6万亿美元的令人难以置信的高度。</blockquote></p><p> As the global automotive industry goes through a similar seismic shift, investors are banking on a similar phenomenon, but with electric cars, and autonomous vehicles replacing gas-fueled combustion engines. This includes companies in China, where another crop of EV companies seek to unseat Tesla in the most populated country in the world. Currently, though, electric cars currently make up only approximately 2% of global auto sales. Estimates for the future vary broadly, from a low-end forecast of 10% to 20% of cars sold by 2030 to as much as two-thirds of the market in the same time frame.</p><p><blockquote>随着全球汽车行业经历类似的翻天覆地的转变，投资者也寄希望于类似的现象，但电动汽车和自动驾驶汽车将取代燃气内燃机。这包括中国的公司，在中国，另一批电动汽车公司试图在世界上人口最多的国家取代特斯拉。但目前，电动汽车仅占全球汽车销量的2%左右。对未来的预测差异很大，从到2030年占汽车销量10%至20%的低端预测到同一时间内占市场的三分之二。</blockquote></p><p> With those predicted changes on the horizon, combined with Tesla’s gigantic stock gains in 2020, including its addition to the S&amp;P 500,have led to some crazy bets on unproven or early-stage technologies once again.</p><p><blockquote>随着这些预测的变化即将到来，再加上特斯拉在2020年股价的巨大上涨，包括加入标普500，再次导致了一些对未经证实或早期技术的疯狂押注。</blockquote></p><p></p><p> In 2020, 15 private electric-vehicle companies were purchased by blank-check companies and are now publicly traded, according to Renaissance Capital, which tracks IPOS and has its own IPO ETF.But most of them don’t have a proven technology or business model, little or no revenue and no profits in sight.</p><p><blockquote>据跟踪IPO并拥有自己的IPO ETF的Renaissance Capital称，2020年，有15家私营电动汽车公司被空白支票公司收购，目前已公开交易。但他们中的大多数没有经过验证的技术或商业模式，收入很少或没有，也看不到利润。</blockquote></p><p> “While this is an area with enormous potential, many of these companies are completely unproven,&nbsp;and investors have very little to go on in terms of their ability to win customers or scale manufacturing,” said Kennedy of Renaissance Capital.</p><p><blockquote>Renaissance Capital的肯尼迪表示：“虽然这是一个潜力巨大的领域，但其中许多公司完全未经证实，投资者在赢得客户或扩大制造规模的能力方面几乎没有什么可做的。”</blockquote></p><p> The U.S. EV targets of the blank check companies, such as Nikola, Lucid and Fisker Inc.,an electric-car startup in Los Angeles, have not manufactured a single electric vehicle for sale, or collected any revenue yet. But their market caps have soared, and&nbsp;the companies are promising huge gains in revenue in a short time period.</p><p><blockquote>空白支票公司的美国电动汽车目标，如Nikola、Lucid和洛杉矶电动汽车初创公司Fisker Inc.，尚未生产一辆电动汽车进行销售，也尚未获得任何收入。但它们的市值飙升，并且这些公司承诺在短时间内收入将大幅增长。</blockquote></p><p> These stocks have not traded on profit or revenue, but on pure speculation. Fisker saw its shares soar nearly 40% after&nbsp;a memo of understanding with Foxconn Technology Group,the manufacturer of Apple Inc.’s&nbsp;iPhones, to jointly produce more than 250,000 electric SUVs, possibly at FoxConn’s new factory in Wisconsin. The deal is for Fisker’s second model, and manufacturing would begin at the end of 2023, as it adopts a sort of Uber-like approach to contracting out high costs.</p><p><blockquote>这些股票的交易不是基于利润或收入，而是纯粹的投机。在与苹果公司iPhone制造商富士康科技集团签署谅解备忘录，共同生产超过25万辆电动SUV（可能在富士康位于威斯康辛州的新工厂）后，菲斯克股价飙升近40%。这笔交易是针对菲斯克的第二款车型，生产将于2023年底开始，因为它采用了一种类似Uber的方法来外包高成本。</blockquote></p><p> The history of Fisker shows why investors should be concerned. The original company, Fisker Automotive, went bankrupt in 2013, and its assets were purchased by a Chinese auto-parts company that has retained some brand rights and started up Fisker Inc. while saying goodbye to the founder who gave the company its name. Fisker’s first product, an electric SUV called the Ocean, is expected to be launched in late 2022.</p><p><blockquote>菲斯克的历史表明了投资者应该担心的原因。原公司Fisker Automotive于2013年破产，其资产被一家中国汽车零部件公司收购，该公司保留了部分品牌权，并在告别以该公司命名的创始人的同时创办了Fisker Inc.。菲斯克的首款产品是一款名为Ocean的电动SUV，预计将于2022年底推出。</blockquote></p><p> These are the types of investments that are more appropriate for venture capitalists, who are used to betting on companies without revenue or profits or even a product. The list of companies targeted by SPACs looking at the EV market or the sustainable-energy arena also includes companies making electric batteries, charging-station makers, and other components for EVs and AVs, such as Lidar.</p><p><blockquote>这些是更适合风险投资家的投资类型，他们习惯于押注于没有收入或利润甚至没有产品的公司。着眼于电动汽车市场或可持续能源领域的SPAC瞄准的公司名单还包括制造电池、充电站制造商以及电动汽车和自动驾驶汽车其他组件（例如激光雷达）的公司。</blockquote></p><p> Velodyne Lidar Inc.,makes technology that is used as part of the vision system in autonomous vehicles, and is now in the middle of a post-SPAC war. David Hall, who founded the Morgan Hill, Calif.-based company, and his wife are sparring with the investors&nbsp;who purchased Velodyne Lidar,and took the company public via a SPAC late last year. But since then, the Halls and Velodyne’s acquirers had a falling out.</p><p><blockquote>威力登激光雷达公司生产的技术被用作自动驾驶汽车视觉系统的一部分，目前正处于特殊目的收购公司后的战争中。大卫·霍尔(David Hall)创立了这家总部位于加利福尼亚州摩根山的公司，他和他的妻子正在与购买Velodyne Lidar的投资者争论，并于去年年底通过SPAC将该公司上市。但从那以后，霍尔夫妇和威力登的收购者闹翻了。</blockquote></p><p> Last month, the company named a new chairman and chief marketing officer following an investigation into the conduct of David Hall and Marta Thoma Hall, who held those positions, respectively, and terminated Marta Hall’s employment.</p><p><blockquote>上个月，在对分别担任这些职位的David Hall和Marta Thoma Hall的行为进行调查后，该公司任命了新的董事长和首席营销官，并终止了Marta Hall的雇佣关系。</blockquote></p><p> “The investigation concluded that Mr.&nbsp;Hall and Ms.&nbsp;Hall each behaved inappropriately with regard to board and company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with company officers and directors,”Velodyne said in a statement&nbsp;and regulatory filing in late February.</p><p><blockquote>威力登在一份声明中表示：“调查得出的结论是，霍尔先生和霍尔女士在董事会和公司流程方面的行为都不恰当，并且在与公司高管和董事打交道时未能尊重、诚实、正直和坦率。”二月底的声明和监管文件。</blockquote></p><p> The two remain directors of the company that ousted them, as well as majority owners, with a 58.4% ownership of common stock in Velodyne.</p><p><blockquote>这两人仍然是驱逐他们的公司的董事，也是大股东，拥有威力登58.4%的普通股所有权。</blockquote></p><p> “To be completely clear: I chose to resign from the board because I had numerous concerns about the strategic direction and current leadership of Velodyne Lidar,” David Hall said in a statement last week. “I firmly believe that the board has fostered an anti-stockholder culture and that Velodyne Lidar’s corporate governance is broken. Perhaps most unsettling was the board’s decision to rubber-stamp an increased compensation package for Mr. [Anand] Gopalan despite the Company releasing weak Q4 2020 earnings and missing year-end forecasts.”</p><p><blockquote>David Hall在上周的一份声明中表示：“完全明确的是：我选择辞去董事会职务，因为我对Velodyne Lidar的战略方向和当前领导层有很多担忧。”“我坚信董事会营造了一种反股东文化，Velodyne Lidar的公司治理被打破。也许最令人不安的是董事会决定批准增加[Anand]Gopalan先生的薪酬方案，尽管该公司发布了疲软的2020年第四季度收益且未达到年终预测。”</blockquote></p><p> Gopalan is Veloydyne’s chief executive.</p><p><blockquote>戈帕兰是Veloydyne的首席执行官。</blockquote></p><p> A few weeks ago, Hall told The Wall Street Journal that the moves were a “well-played-out plan to hijack the corporation by the SPAC guys.” The Halls were not immediately available for an interview, their spokesman said.</p><p><blockquote>几周前，霍尔告诉《华尔街日报》，这些举措是“SPAC人员精心策划的劫持公司的计划”。他们的发言人说，大厅不能立即接受采访。</blockquote></p><p> The Velodyne saga is one that can often happen at startup companies that are not yet ready for prime time, when entrenched founders spar with their investors. One high-profile example that did made its way into the press in recent years was when VC investors&nbsp;pushed for the ouster of co-founder Travis Kalanick&nbsp;at Uber Technologies,long before the company went public.</p><p><blockquote>威力登传奇经常发生在尚未准备好迎接黄金时间的初创公司，当根深蒂固的创始人与投资者发生争执时。近年来，一个引人注目的例子确实出现在媒体上，那就是早在Uber Technologies上市之前，风险投资者就推动该公司联合创始人特拉维斯·卡兰尼克(Travis Kalanick)下台。</blockquote></p><p></p><p> So while SPACs may represent the democratization of venture-capital investing, where average retail investors have a more even playing field with Silicon Valley venture capitalists, getting in at the very early stages of young companies, it is also the democratizing the huge amounts of risk that are typically borne by professional investors. But unlike venture capitalists, who spread out their investments across a group of at least 10 various young or high-risk companies, knowing that most will fail as they hope to hit one big winner, individuals have a lot more to lose.</p><p><blockquote>因此，虽然SPAC可能代表着风险资本投资的民主化，普通散户投资者与硅谷风险资本家有一个更加公平的竞争环境，在年轻公司的早期阶段进入，但这也是通常由专业投资者承担的巨额风险的民主化。但与风险投资家不同的是，风险投资家将投资分散到至少10家不同的年轻或高风险公司，他们知道大多数公司都会失败，因为他们希望获得一个大赢家，而个人会损失更多。</blockquote></p><p> “The SPACs we are seeing now are focused on somewhat VC-like companies. Many of these companies don’t have revenue, they don’t have positive cash flow or earnings. It’s kind of like a VC in a liquid form, via a SPAC,” said Robert Davis, a partner and chief investment officer of Round Table Wealth Management. “Not all these SPACs are going to be great.”</p><p><blockquote>“我们现在看到的SPAC专注于有点类似VC的公司。其中许多公司没有收入，没有正现金流或收益。这有点像流动形式的VC，通过SPAC，”Round Table Wealth Management合伙人兼首席投资官罗伯特·戴维斯(Robert Davis)表示。“并非所有这些SPAC都会很棒。”</blockquote></p><p> There is a lot of risk in many of these deals, especially in the “pre-revenue” bunch.</p><p><blockquote>这些交易中有很多风险，尤其是在“收入前”交易中。</blockquote></p><p> “This is a little bit like in the Middle Ages, alchemists would take base metal and turn it into gold,” said Sandeep Dahiya, associate professor of entrepreneurship at&nbsp;Georgetown’s McDonough School of Business.“SPACs are like that: ‘Here, give us your money and we will try to make you rich.’ Let’s see how that plays out.”</p><p><blockquote>“这有点像中世纪，炼金术士会把贱金属变成黄金，”乔治敦大学麦克多诺商学院创业学副教授Sandeep Dahiya说，“SPAC就像这样：‘在这里，把你的钱给我们，我们会努力让你变得富有。’让我们看看结果如何。”</blockquote></p><p> For most investors, especially the average retail investor who did not get in early like the hedge funds, it will likely not end well in the short term. Anyone who is betting on long-term returns will need to choose wisely, and be wary of the SPAC flavor of the day.</p><p><blockquote>对于大多数投资者，尤其是没有像对冲基金那样提前入场的普通散户投资者来说，短期内可能不会有好结果。任何押注长期回报的人都需要做出明智的选择，并警惕当时的特殊目的收购公司风格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-tesla-bubble-bets-on-electric-cars-and-the-rise-of-spacs-have-led-to-a-new-version-of-the-dot-com-boom-11615836310?mod=mw_latestnews&mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","LRCX":"拉姆研究","TSLA":"特斯拉","XPEV":"小鹏汽车","AMAT":"应用材料","NIO":"蔚来"},"source_url":"https://www.marketwatch.com/story/the-tesla-bubble-bets-on-electric-cars-and-the-rise-of-spacs-have-led-to-a-new-version-of-the-dot-com-boom-11615836310?mod=mw_latestnews&mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1104334279","content_text":"Investors take on the role of venture capitalists as they look for the next big thing, overvaluing young companies years before they could even begin to show the type of returns that would validate the valuation — sound familiar?\nMARKETWATCH ILLUSTRATION/ISTOCKPHOTO\nIn the 1990s, after seeing young tech stocks surge, investors wildly bet on young companies with little to no revenue on promises that a huge sea change was on the horizon for the global economy.\nIn the 2020s,something similar is happening: Young electric-vehicle and autonomous-vehicle stocks have been surging following the meteoric rise of Tesla Inc. and Chinese rivals like Nio Inc.,even though a fully electrified future for the automotive industry is years, or even decades, away.\nThis current unique bubble has been forming from a combination of a lot of cash looking for a home; the record number of special-purpose acquisition companies, or SPACs, going public; and investors looking for the next Tesla. The most crucial ingredient in that recipe is blank-check companies focused on buying electric-vehicle makers, which give both seasoned institutional and individual investors the chance to role-play as venture capitalists.\n“SPAC investors have been much more willing to speculate with the aim of buying ‘the next Tesla,'” said Matt Kennedy, senior IPO market strategist at Renaissance Capital, adding that the soaring returns in SPAC-land have attracted institutional buyers as well.\nSome air may be leaking from the bubble, though. Tesla’s shares succumbed to the law of gravity in late February and early March, tumbling from their stratospheric heights and losing a stunning $277 billion in market value in a month. Those losses reversed, however, and as of Monday Tesla was worth basically the same as at the end of 2020 — eight times its valuation at the beginning of last year. Chinese rivals such as Nio, Li Auto Inc. and Xpeng Inc. were still down on the year, but had also bounced back from lows.\nSPACs have continued to show rampant speculation throughout, as investors looked for the types of gains those stocks enjoyed in 2020.\n“I think the electric-vehicle space is something where investors are chasing past returns,” said University of Florida Professor Jay Ritter, who has both invested in SPACs and shorted Tesla shares of late. “As with all bubbles, it’s hard to know where the turning point is going to be.”\nTwo cautionary examples of EV hype\nTwo EV companies are good examples of the caution needed by investors and the problems that exist in these early-stage ventures. Nikola Corp. was one of the early EV makers to get swept up and purchased by a SPAC, which then attracted an army of investors who drove prices sky high. But a short seller, Hindenburg Research, helped deflate that bubble.In September, Hindenburg published a detailed report, calling Nikola an “intricate fraud” and pointed out the company staged a deceiving video of a truck running on its hydrogen fuel-cell technology, when it was actually filmed slowly rolling down a hill, not running on its own power.\nNikola, which surged to a peak of around $66 last July, before Hindenburg’s report, closed at $15.85 Tuesday.\nWhile Nikola could be in the vaporware camp, Lucid Motors Inc., is another story. It is seen as a legitimate potential Tesla rival, based in Newark, Calif., not far from Tesla’s Silicon Valley manufacturing site in Fremont. Lucid was founded by Peter Rawlinson, the chief engineer of the Tesla Model S, and is developing an electric luxury sedan that is expected to launch this year, as well as an electric SUV.\nThe mania around SPACs struck Lucid as well. After news leaked in January that Lucid was about to be acquired by a SPAC called Churchill Capital Group,shares in the SPAC surged to unreasonable levels as speculators jumped in. When the merger was actually announced in late February, it included an investment from Wall Street that valued the company far less than the public had,and its shares plunged.\nThere could be plenty more pain for speculators looking to get in on EV companies. In January alone, according to Dealogic, 90 SPACs filed to go public. While only a handful of those companies actually said they plan to focus on electric vehicles or batteries, many did not identify a target industry or market for acquisitions but did mention a sustainable focus — for example, Switchback II of Dallas, which raised $275 million in its January IPO, said it intends to focus on companies in the “broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.”\n“Never underestimate the market’s ability to find products for people who have money. The market has more money than product right now. The shelf of near-ready IPOs was pretty bare, and laid more barren with COVID-19,” said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in an interview late last year. “So all of a sudden, there is good money looking for public companies. It’s incredible how fast this submarket has reformed around SPACS.”\nTypical IPO buyers like Fidelity and Franklin Templeton are making large investments in SPACs through private investment in public equities, or PIPEs, the type of investment that pumped into Lucid as its SPAC traded much higher.\nSPACs represent an unusual investment opportunity, because they take place in two phases. In the first phase, the blank-check company raises money in its IPO, the pre-acquisition phase, which can offer investors a good return. They also offer investors the ability to exit, with original funds intact, if a proposed acquisition is not to the liking of the investors.\nSo far investors have had an excellent run in SPACs in general, especially hedge funds, or the SPAC mafia, Ritter said. According to Dealogic, a total of 262 blank-check companies went public in U.S. markets in 2020, with a current average performance of 21.3% for those 2020 deals. So far for 2021 IPO SPACs, though, the current average performance is 1.95%.\nRitter was so impressed with the returns that he invested in a few SPACs himself in the aftermarket, after seeing his funds in an investment account earn barely anything in interest.\n“There is investor enthusiasm. Even though supply has been exploding, investor demand has been growing even faster,” Ritter said, adding that most of the electric-vehicle companies have chosen to go public via a SPAC and not the standard, more costly, IPO process.\nSPACs are typically a better investment in the pre-acquisition phase, which can go as long as two years, the time limit set for companies to make an acquisition. Only early investors, though, are often able to receive the biggest security for their investment in SPACs. They usually receive a warrant with each share of the IPO, that entitles them to buy a share at a prearranged price. Public investors in the aftermarket deal don’t get this option,which is why hedge funds have zeroed in on SPACs as a sure thing.\nRitter noted that even though he drives a Tesla himself, he has been short the stock.\n“When it got added to the S&P 500, I shorted more shares. So far it’s been a wealth-losing activity for me,” Ritter said, adding that he also believes many investors are hoping for a repeat performance of Tesla. “Investors tend to chase past returns. Fifteen years ago it was investing in real estate, which ended badly; 21 years ago the internet bubble was about to peak.”\nEV SPACs as the new dot-com bubble\nJust as the dot-com boom and bust of 1999-2000 was often compared with the tulip mania in the 17th century of the then-Dutch Republic, it is worth asking the same question about some of the different bubbles in the market today, from the GameStop Corp. insanity to the electric-vehicle hype.\nDuring both the tulip boom and the dot-com boom, new and relatively unknown products were introduced, and prices (in futures contracts for tulips, stock prices for dot-com companies) reached staggering levels based on hype for potential demand that was not sustainable. Many companies like Pets.com and Webvan ultimately collapsed, with business ideas that were ahead of their time, while others took advantage of the market mania, such as WorldCom, which deceived investors with one of the biggest accounting frauds in history. Others survived and thrived, such as Amazon.com Inc.,which has soared to unbelievable heights of over $1.6 trillion in market value.\nAs the global automotive industry goes through a similar seismic shift, investors are banking on a similar phenomenon, but with electric cars, and autonomous vehicles replacing gas-fueled combustion engines. This includes companies in China, where another crop of EV companies seek to unseat Tesla in the most populated country in the world. Currently, though, electric cars currently make up only approximately 2% of global auto sales. Estimates for the future vary broadly, from a low-end forecast of 10% to 20% of cars sold by 2030 to as much as two-thirds of the market in the same time frame.\nWith those predicted changes on the horizon, combined with Tesla’s gigantic stock gains in 2020, including its addition to the S&P 500,have led to some crazy bets on unproven or early-stage technologies once again.\nIn 2020, 15 private electric-vehicle companies were purchased by blank-check companies and are now publicly traded, according to Renaissance Capital, which tracks IPOS and has its own IPO ETF.But most of them don’t have a proven technology or business model, little or no revenue and no profits in sight.\n“While this is an area with enormous potential, many of these companies are completely unproven, and investors have very little to go on in terms of their ability to win customers or scale manufacturing,” said Kennedy of Renaissance Capital.\nThe U.S. EV targets of the blank check companies, such as Nikola, Lucid and Fisker Inc.,an electric-car startup in Los Angeles, have not manufactured a single electric vehicle for sale, or collected any revenue yet. But their market caps have soared, and the companies are promising huge gains in revenue in a short time period.\nThese stocks have not traded on profit or revenue, but on pure speculation. Fisker saw its shares soar nearly 40% after a memo of understanding with Foxconn Technology Group,the manufacturer of Apple Inc.’s iPhones, to jointly produce more than 250,000 electric SUVs, possibly at FoxConn’s new factory in Wisconsin. The deal is for Fisker’s second model, and manufacturing would begin at the end of 2023, as it adopts a sort of Uber-like approach to contracting out high costs.\nThe history of Fisker shows why investors should be concerned. The original company, Fisker Automotive, went bankrupt in 2013, and its assets were purchased by a Chinese auto-parts company that has retained some brand rights and started up Fisker Inc. while saying goodbye to the founder who gave the company its name. Fisker’s first product, an electric SUV called the Ocean, is expected to be launched in late 2022.\nThese are the types of investments that are more appropriate for venture capitalists, who are used to betting on companies without revenue or profits or even a product. The list of companies targeted by SPACs looking at the EV market or the sustainable-energy arena also includes companies making electric batteries, charging-station makers, and other components for EVs and AVs, such as Lidar.\nVelodyne Lidar Inc.,makes technology that is used as part of the vision system in autonomous vehicles, and is now in the middle of a post-SPAC war. David Hall, who founded the Morgan Hill, Calif.-based company, and his wife are sparring with the investors who purchased Velodyne Lidar,and took the company public via a SPAC late last year. But since then, the Halls and Velodyne’s acquirers had a falling out.\nLast month, the company named a new chairman and chief marketing officer following an investigation into the conduct of David Hall and Marta Thoma Hall, who held those positions, respectively, and terminated Marta Hall’s employment.\n“The investigation concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to board and company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with company officers and directors,”Velodyne said in a statement and regulatory filing in late February.\nThe two remain directors of the company that ousted them, as well as majority owners, with a 58.4% ownership of common stock in Velodyne.\n“To be completely clear: I chose to resign from the board because I had numerous concerns about the strategic direction and current leadership of Velodyne Lidar,” David Hall said in a statement last week. “I firmly believe that the board has fostered an anti-stockholder culture and that Velodyne Lidar’s corporate governance is broken. Perhaps most unsettling was the board’s decision to rubber-stamp an increased compensation package for Mr. [Anand] Gopalan despite the Company releasing weak Q4 2020 earnings and missing year-end forecasts.”\nGopalan is Veloydyne’s chief executive.\nA few weeks ago, Hall told The Wall Street Journal that the moves were a “well-played-out plan to hijack the corporation by the SPAC guys.” The Halls were not immediately available for an interview, their spokesman said.\nThe Velodyne saga is one that can often happen at startup companies that are not yet ready for prime time, when entrenched founders spar with their investors. One high-profile example that did made its way into the press in recent years was when VC investors pushed for the ouster of co-founder Travis Kalanick at Uber Technologies,long before the company went public.\nSo while SPACs may represent the democratization of venture-capital investing, where average retail investors have a more even playing field with Silicon Valley venture capitalists, getting in at the very early stages of young companies, it is also the democratizing the huge amounts of risk that are typically borne by professional investors. But unlike venture capitalists, who spread out their investments across a group of at least 10 various young or high-risk companies, knowing that most will fail as they hope to hit one big winner, individuals have a lot more to lose.\n“The SPACs we are seeing now are focused on somewhat VC-like companies. Many of these companies don’t have revenue, they don’t have positive cash flow or earnings. It’s kind of like a VC in a liquid form, via a SPAC,” said Robert Davis, a partner and chief investment officer of Round Table Wealth Management. “Not all these SPACs are going to be great.”\nThere is a lot of risk in many of these deals, especially in the “pre-revenue” bunch.\n“This is a little bit like in the Middle Ages, alchemists would take base metal and turn it into gold,” said Sandeep Dahiya, associate professor of entrepreneurship at Georgetown’s McDonough School of Business.“SPACs are like that: ‘Here, give us your money and we will try to make you rich.’ Let’s see how that plays out.”\nFor most investors, especially the average retail investor who did not get in early like the hedge funds, it will likely not end well in the short term. Anyone who is betting on long-term returns will need to choose wisely, and be wary of the SPAC flavor of the day.","news_type":1,"symbols_score_info":{"TSLA":0.9,"NKLA":0.9,"CCIV":0.9,"LI":0.9,"LRCX":0.9,"AMAT":0.9,"XPEV":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":3162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328755100,"gmtCreate":1615561358900,"gmtModify":1703490983799,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/328755100","repostId":"2118968478","repostType":4,"isVote":1,"tweetType":1,"viewCount":2689,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321788088,"gmtCreate":1615470584244,"gmtModify":1703489508921,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321788088","repostId":"1115960803","repostType":4,"isVote":1,"tweetType":1,"viewCount":1635,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":320510382,"gmtCreate":1615144684446,"gmtModify":1703484945026,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320510382","repostId":"1116031861","repostType":4,"repost":{"id":"1116031861","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614955424,"share":"https://www.laohu8.com/m/news/1116031861?lang=zh_CN&edition=full","pubTime":"2021-03-05 22:43","market":"us","language":"en","title":"Senseonics plunged more than 9%<blockquote>Senseonics暴跌超9%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116031861","media":"老虎资讯综合","summary":"(March 5) Senseonics plunged more than 9%. Senseonics downgraded to underperform from market perform","content":"<p>(March 5)&nbsp;Senseonics plunged more than 9%.&nbsp;</p><p><blockquote>（3月5日）Senseonics暴跌超9%。</blockquote></p><p>Senseonics downgraded to underperform from market perform at Raymond James.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)将Senseonics评级从市场表现下调至表现不佳。</blockquote></p><p>Senseonics Holdings, Inc. reported quarterly losses of $(0.41) per share. This is a 127.78 percent decrease over losses of $(0.18) per share from the same period last year.  The company reported quarterly sales of $3.90 million which beat the analyst consensus estimate of $3.05 million by 27.87 percent.  This is a 56.44 percent decrease over sales of $8.95 million the same period last year.</p><p><blockquote>Senseonics Holdings，Inc.报告季度亏损为每股0.41美元。与去年同期每股亏损(0.18)美元相比，减少了127.78%。该公司报告季度销售额为390万美元，比分析师普遍预期的305万美元高出27.87%。与去年同期895万美元的销售额相比，下降了56.44%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8692adfc74e9219bd4e30a757ad3a1dd\" tg-width=\"1050\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Senseonics plunged more than 9%<blockquote>Senseonics暴跌超9%</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\">\nSenseonics plunged more than 9%<blockquote>Senseonics暴跌超9%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-03-05 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Senseonics plunged more than 9%.&nbsp;</p><p><blockquote>（3月5日）Senseonics暴跌超9%。</blockquote></p><p>Senseonics downgraded to underperform from market perform at Raymond James.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)将Senseonics评级从市场表现下调至表现不佳。</blockquote></p><p>Senseonics Holdings, Inc. reported quarterly losses of $(0.41) per share. This is a 127.78 percent decrease over losses of $(0.18) per share from the same period last year.  The company reported quarterly sales of $3.90 million which beat the analyst consensus estimate of $3.05 million by 27.87 percent.  This is a 56.44 percent decrease over sales of $8.95 million the same period last year.</p><p><blockquote>Senseonics Holdings，Inc.报告季度亏损为每股0.41美元。与去年同期每股亏损(0.18)美元相比，减少了127.78%。该公司报告季度销售额为390万美元，比分析师普遍预期的305万美元高出27.87%。与去年同期895万美元的销售额相比，下降了56.44%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8692adfc74e9219bd4e30a757ad3a1dd\" tg-width=\"1050\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SENS":"Senseonics Holdings,Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116031861","content_text":"(March 5) Senseonics plunged more than 9%. Senseonics downgraded to underperform from market perform at Raymond James.Senseonics Holdings, Inc. reported quarterly losses of $(0.41) per share. This is a 127.78 percent decrease over losses of $(0.18) per share from the same period last year.  The company reported quarterly sales of $3.90 million which beat the analyst consensus estimate of $3.05 million by 27.87 percent.  This is a 56.44 percent decrease over sales of $8.95 million the same period last year.","news_type":1,"symbols_score_info":{"SENS":0.9}},"isVote":1,"tweetType":1,"viewCount":1611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":367355590,"gmtCreate":1614913468210,"gmtModify":1703482900550,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"No reason to panic yet, it’s still early","listText":"No reason to panic yet, it’s still early","text":"No reason to panic yet, it’s still early","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/367355590","repostId":"1108020727","repostType":4,"isVote":1,"tweetType":1,"viewCount":2707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365452321,"gmtCreate":1614774241063,"gmtModify":1703480926351,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"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/365452321","repostId":"1105186433","repostType":4,"repost":{"id":"1105186433","kind":"news","pubTimestamp":1614762863,"share":"https://www.laohu8.com/m/news/1105186433?lang=zh_CN&edition=full","pubTime":"2021-03-03 17:14","market":"us","language":"en","title":"2 Growth Stocks to Buy if the Market Crashes<blockquote>市场崩盘时值得买入的2只成长型股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105186433","media":"Motley Fool","summary":"(March 3) Growth stocks have been the place to be over the past year as the stock market recovered f","content":"<p>(March 3)&nbsp;Growth stocks&nbsp;have been the place to be over the past year as the stock market recovered from the crash that marked the beginning of the pandemic in the U.S. Some stocks have delivered multi-hundred-percent returns in the matter of months, despite little or no change in long-term prospects.</p><p><blockquote>（3月3日）过去一年，随着股市从标志着美国疫情开始的崩盘中复苏，成长型股票一直是热门股票。尽管长期前景变化很小或没有变化，但一些股票在几个月内就实现了100%的回报。</blockquote></p><p>The party won't last forever. Sky-high valuations will eventually fall back to earth, and even the best companies could see their stocks hit hard. Ultra-high prices make buying many growth stocks today risky, but a market crash could create some buying opportunities.</p><p><blockquote>派对不会永远持续下去的。天价估值最终会回落到现实中，即使是最好的公司，其股票也可能遭受重创。超高的价格使得今天购买许多成长型股票存在风险，但市场崩盘可能会创造一些买入机会。</blockquote></p><p>Two growth stocks that have caught my eye are&nbsp;<b>The Lovesac Company</b>&nbsp;<a href=\"https://laohu8.com/S/LOVE\">Lovesac Co.</a> and&nbsp;<b><a href=\"https://laohu8.com/S/PAYC\">Paycom Software, Inc.</a></b> Both stocks are too expensive for me to touch right now, but I'll be interested if they get dragged down when the market takes a dive.</p><p><blockquote>引起我注意的两只成长股是<b>洛夫萨克公司</b> <a href=\"https://laohu8.com/S/LOVE\">洛夫萨克公司。</a>和<b><a href=\"https://laohu8.com/S/PAYC\">Paycom软件公司。</a></b>这两只股票现在对我来说都太贵了，无法触及，但如果它们在市场暴跌时受到拖累，我会很感兴趣。</blockquote></p><p><b>1. The Lovesac Company</b></p><p><blockquote><b>1.Lovesac公司</b></blockquote></p><p>Modular furniture seems like a pretty good idea to me, especially when it comes to large items like couches and sectionals. Bulky furniture that won't easily fit through doors becomes a big pain the moment it needs to be moved.</p><p><blockquote>对我来说，模块化家具似乎是个不错的主意，尤其是像沙发和分组赛这样的大件物品。不容易放进门的笨重家具在需要移动的时候会变得很痛苦。</blockquote></p><p>A modular sectional, comprised of smaller pieces that are combined into different configurations, solves this problem. The pieces can be easily shipped to the buyer using standard shipping services, and the sectional can be disassembled and moved quickly and easily.</p><p><blockquote>由组合成不同配置的较小部件组成的模块化截面解决了这个问题。使用标准运输服务，这些部件可以很容易地运送给买方，并且分段可以快速方便地拆卸和移动。</blockquote></p><p>Lovesac is one company that hasfound success selling modular sectionals. The company's \"sactionals\" aren't cheap, but they've become increasingly popular as the pandemic has dragged on. Lovesac booked 43.5% sales growth in the third quarter of last year, and the company turned a profit thanks to higher sales, a higher gross margin, and some solid operating leverage.</p><p><blockquote>Lovesac是一家成功销售模块化分组赛的公司。该公司的“sactionals”并不便宜，但随着疫情的持续，它们变得越来越受欢迎。Lovesac去年第三季度销售额增长了43.5%，由于销售额增加、毛利率上升和一些稳健的运营杠杆，该公司扭亏为盈。</blockquote></p><p>Lovesac is still a small company, with third-quarter revenue of just $75 million, but the total addressable market is quite large. The market for retail furniture and bedding in the U.S. this year will top $114 billion, according to IBISWorld. Lovesac only addresses a portion of this market, and its premium pricing further limits its market share. But it's not hard to imagine Lovesac eventually topping $1 billion in annual sales.</p><p><blockquote>Lovesac仍然是一家小公司，第三季度收入仅为7500万美元，但总的潜在市场相当大。根据IBISWorld的数据，今年美国零售家具和床上用品市场将超过1140亿美元。Lovesac仅解决了该市场的一部分，其溢价进一步限制了其市场份额。但不难想象Lovesac的年销售额最终会突破10亿美元。</blockquote></p><p>Shares of Lovesac have soared over the past year, pushing up the market capitalization to nearly $1 billion. That's a high price to pay for a small furniture company, so it may be wise to wait for a significant pullback before jumping in. There are significant risks, including lower-cost competition from other modular furniture companies and a potential slowdown in the housing market. But the modular furniture trend seems likely to continue, and Lovesac is a leader.</p><p><blockquote>Lovesac的股价在过去一年中飙升，将市值推高至近10亿美元。对于一家小型家具公司来说，这是一个很高的代价，因此在进入之前等待大幅回调可能是明智的。存在重大风险，包括来自其他模块化家具公司的低成本竞争以及房地产市场的潜在放缓。但模块化家具趋势似乎可能会持续下去，Lovesac是领导者。</blockquote></p><p><b>2. Paycom Software</b></p><p><blockquote><b>2.Paycom软件</b></blockquote></p><p>Paycom is a bit of an outlier when it comes tosoftware-as-a-service stocks. The HR and payroll software provider is growing at a double-digit rate, but it's also highly profitable. While many SaaS companies pour cash into sales and marketing to boost growth at the expense of the bottom line, Paycom does not.</p><p><blockquote>就软件即服务股票而言，Paycom有点异类。这家人力资源和薪资软件提供商正以两位数的速度增长，但利润也很高。虽然许多SaaS公司将现金投入销售和营销以牺牲利润为代价来促进增长，但Paycom却没有。</blockquote></p><p>Revenue was up 12.3% in Paycom's third quarter, not a bad result given Paycom's customer base skews small. Paycom's target client size range is 50 to 5,000 employees, and some of those clients have been forced to decrease headcount due to the pandemic. This is hurting Paycom's recurring revenue, and it will continue to do so until headcounts return to pre-pandemic levels.</p><p><blockquote>Paycom第三季度收入增长了12.3%，考虑到Paycom的客户群较小，这是一个不错的结果。Paycom的目标客户规模范围为50至5,000名员工，其中一些客户因疫情而被迫减少员工人数。这正在损害Paycom的经常性收入，并且将继续这样做，直到员工人数恢复到大流行前的水平。</blockquote></p><p>Despite the pandemic headwind, Paycom has remained solidly profitable. GAAP net income was $27.5 million in the third quarter, and the company spent just one-third of revenue on sales and marketing. Net income was down from the prior-year period, but that dip is likely just a pandemic-driven bump in the road for Paycom.</p><p><blockquote>尽管面临大流行的阻力，Paycom仍保持稳定盈利。第三季度GAAP净利润为2750万美元，该公司仅将三分之一的收入用于销售和营销。净利润较去年同期有所下降，但这种下降可能只是Paycom因疫情而遇到的坎坷。</blockquote></p><p>Other SaaS companies spend far more to acquire customers. Telemedicine company<b>Teladoc</b>, for example, poured nearly half of its revenue into sales and marketing in its latest quarter. SaaS giant<b>Salesforce</b>still spends around 45% of revenue on sales and marketing despite its size.</p><p><blockquote>其他SaaS公司在获取客户方面的支出要高得多。远程医疗公司<b>Teladoc</b>例如，该公司在最近一个季度将近一半的收入投入到销售和营销中。SaaS巨头<b>Salesforce</b>尽管规模庞大，但仍将约45%的收入用于销售和营销。</blockquote></p><p>Paycom hasn't benefited from the pandemic, but the company has remained profitable and continued to grow. The stock is pricey, trading for over 25 times sales and over 150 times earnings. If the market heads lower and drags Paycom down with it, it's a stock to consider.</p><p><blockquote>Paycom并未从疫情中受益，但该公司仍保持盈利并持续增长。该股价格昂贵，市盈率超过25倍，市盈率超过150倍。如果市场走低并拖累Paycom，那么这是一只值得考虑的股票。</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 to Buy if the Market Crashes<blockquote>市场崩盘时值得买入的2只成长型股票</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 to Buy if the Market Crashes<blockquote>市场崩盘时值得买入的2只成长型股票</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\">2021-03-03 17:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(March 3)&nbsp;Growth stocks&nbsp;have been the place to be over the past year as the stock market recovered from the crash that marked the beginning of the pandemic in the U.S. Some stocks have delivered multi-hundred-percent returns in the matter of months, despite little or no change in long-term prospects.</p><p><blockquote>（3月3日）过去一年，随着股市从标志着美国疫情开始的崩盘中复苏，成长型股票一直是热门股票。尽管长期前景变化很小或没有变化，但一些股票在几个月内就实现了100%的回报。</blockquote></p><p>The party won't last forever. Sky-high valuations will eventually fall back to earth, and even the best companies could see their stocks hit hard. Ultra-high prices make buying many growth stocks today risky, but a market crash could create some buying opportunities.</p><p><blockquote>派对不会永远持续下去的。天价估值最终会回落到现实中，即使是最好的公司，其股票也可能遭受重创。超高的价格使得今天购买许多成长型股票存在风险，但市场崩盘可能会创造一些买入机会。</blockquote></p><p>Two growth stocks that have caught my eye are&nbsp;<b>The Lovesac Company</b>&nbsp;<a href=\"https://laohu8.com/S/LOVE\">Lovesac Co.</a> and&nbsp;<b><a href=\"https://laohu8.com/S/PAYC\">Paycom Software, Inc.</a></b> Both stocks are too expensive for me to touch right now, but I'll be interested if they get dragged down when the market takes a dive.</p><p><blockquote>引起我注意的两只成长股是<b>洛夫萨克公司</b> <a href=\"https://laohu8.com/S/LOVE\">洛夫萨克公司。</a>和<b><a href=\"https://laohu8.com/S/PAYC\">Paycom软件公司。</a></b>这两只股票现在对我来说都太贵了，无法触及，但如果它们在市场暴跌时受到拖累，我会很感兴趣。</blockquote></p><p><b>1. The Lovesac Company</b></p><p><blockquote><b>1.Lovesac公司</b></blockquote></p><p>Modular furniture seems like a pretty good idea to me, especially when it comes to large items like couches and sectionals. Bulky furniture that won't easily fit through doors becomes a big pain the moment it needs to be moved.</p><p><blockquote>对我来说，模块化家具似乎是个不错的主意，尤其是像沙发和分组赛这样的大件物品。不容易放进门的笨重家具在需要移动的时候会变得很痛苦。</blockquote></p><p>A modular sectional, comprised of smaller pieces that are combined into different configurations, solves this problem. The pieces can be easily shipped to the buyer using standard shipping services, and the sectional can be disassembled and moved quickly and easily.</p><p><blockquote>由组合成不同配置的较小部件组成的模块化截面解决了这个问题。使用标准运输服务，这些部件可以很容易地运送给买方，并且分段可以快速方便地拆卸和移动。</blockquote></p><p>Lovesac is one company that hasfound success selling modular sectionals. The company's \"sactionals\" aren't cheap, but they've become increasingly popular as the pandemic has dragged on. Lovesac booked 43.5% sales growth in the third quarter of last year, and the company turned a profit thanks to higher sales, a higher gross margin, and some solid operating leverage.</p><p><blockquote>Lovesac是一家成功销售模块化分组赛的公司。该公司的“sactionals”并不便宜，但随着疫情的持续，它们变得越来越受欢迎。Lovesac去年第三季度销售额增长了43.5%，由于销售额增加、毛利率上升和一些稳健的运营杠杆，该公司扭亏为盈。</blockquote></p><p>Lovesac is still a small company, with third-quarter revenue of just $75 million, but the total addressable market is quite large. The market for retail furniture and bedding in the U.S. this year will top $114 billion, according to IBISWorld. Lovesac only addresses a portion of this market, and its premium pricing further limits its market share. But it's not hard to imagine Lovesac eventually topping $1 billion in annual sales.</p><p><blockquote>Lovesac仍然是一家小公司，第三季度收入仅为7500万美元，但总的潜在市场相当大。根据IBISWorld的数据，今年美国零售家具和床上用品市场将超过1140亿美元。Lovesac仅解决了该市场的一部分，其溢价进一步限制了其市场份额。但不难想象Lovesac的年销售额最终会突破10亿美元。</blockquote></p><p>Shares of Lovesac have soared over the past year, pushing up the market capitalization to nearly $1 billion. That's a high price to pay for a small furniture company, so it may be wise to wait for a significant pullback before jumping in. There are significant risks, including lower-cost competition from other modular furniture companies and a potential slowdown in the housing market. But the modular furniture trend seems likely to continue, and Lovesac is a leader.</p><p><blockquote>Lovesac的股价在过去一年中飙升，将市值推高至近10亿美元。对于一家小型家具公司来说，这是一个很高的代价，因此在进入之前等待大幅回调可能是明智的。存在重大风险，包括来自其他模块化家具公司的低成本竞争以及房地产市场的潜在放缓。但模块化家具趋势似乎可能会持续下去，Lovesac是领导者。</blockquote></p><p><b>2. Paycom Software</b></p><p><blockquote><b>2.Paycom软件</b></blockquote></p><p>Paycom is a bit of an outlier when it comes tosoftware-as-a-service stocks. The HR and payroll software provider is growing at a double-digit rate, but it's also highly profitable. While many SaaS companies pour cash into sales and marketing to boost growth at the expense of the bottom line, Paycom does not.</p><p><blockquote>就软件即服务股票而言，Paycom有点异类。这家人力资源和薪资软件提供商正以两位数的速度增长，但利润也很高。虽然许多SaaS公司将现金投入销售和营销以牺牲利润为代价来促进增长，但Paycom却没有。</blockquote></p><p>Revenue was up 12.3% in Paycom's third quarter, not a bad result given Paycom's customer base skews small. Paycom's target client size range is 50 to 5,000 employees, and some of those clients have been forced to decrease headcount due to the pandemic. This is hurting Paycom's recurring revenue, and it will continue to do so until headcounts return to pre-pandemic levels.</p><p><blockquote>Paycom第三季度收入增长了12.3%，考虑到Paycom的客户群较小，这是一个不错的结果。Paycom的目标客户规模范围为50至5,000名员工，其中一些客户因疫情而被迫减少员工人数。这正在损害Paycom的经常性收入，并且将继续这样做，直到员工人数恢复到大流行前的水平。</blockquote></p><p>Despite the pandemic headwind, Paycom has remained solidly profitable. GAAP net income was $27.5 million in the third quarter, and the company spent just one-third of revenue on sales and marketing. Net income was down from the prior-year period, but that dip is likely just a pandemic-driven bump in the road for Paycom.</p><p><blockquote>尽管面临大流行的阻力，Paycom仍保持稳定盈利。第三季度GAAP净利润为2750万美元，该公司仅将三分之一的收入用于销售和营销。净利润较去年同期有所下降，但这种下降可能只是Paycom因疫情而遇到的坎坷。</blockquote></p><p>Other SaaS companies spend far more to acquire customers. Telemedicine company<b>Teladoc</b>, for example, poured nearly half of its revenue into sales and marketing in its latest quarter. SaaS giant<b>Salesforce</b>still spends around 45% of revenue on sales and marketing despite its size.</p><p><blockquote>其他SaaS公司在获取客户方面的支出要高得多。远程医疗公司<b>Teladoc</b>例如，该公司在最近一个季度将近一半的收入投入到销售和营销中。SaaS巨头<b>Salesforce</b>尽管规模庞大，但仍将约45%的收入用于销售和营销。</blockquote></p><p>Paycom hasn't benefited from the pandemic, but the company has remained profitable and continued to grow. The stock is pricey, trading for over 25 times sales and over 150 times earnings. If the market heads lower and drags Paycom down with it, it's a stock to consider.</p><p><blockquote>Paycom并未从疫情中受益，但该公司仍保持盈利并持续增长。该股价格昂贵，市盈率超过25倍，市盈率超过150倍。如果市场走低并拖累Paycom，那么这是一只值得考虑的股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/02/2-growth-stocks-to-buy-if-the-market-crashes/\">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":{"LOVE":"Lovesac Co.","PAYC":"Paycom Software, Inc."},"source_url":"https://www.fool.com/investing/2021/03/02/2-growth-stocks-to-buy-if-the-market-crashes/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105186433","content_text":"(March 3) Growth stocks have been the place to be over the past year as the stock market recovered from the crash that marked the beginning of the pandemic in the U.S. Some stocks have delivered multi-hundred-percent returns in the matter of months, despite little or no change in long-term prospects.The party won't last forever. Sky-high valuations will eventually fall back to earth, and even the best companies could see their stocks hit hard. Ultra-high prices make buying many growth stocks today risky, but a market crash could create some buying opportunities.Two growth stocks that have caught my eye are The Lovesac Company Lovesac Co. and Paycom Software, Inc. Both stocks are too expensive for me to touch right now, but I'll be interested if they get dragged down when the market takes a dive.1. The Lovesac CompanyModular furniture seems like a pretty good idea to me, especially when it comes to large items like couches and sectionals. Bulky furniture that won't easily fit through doors becomes a big pain the moment it needs to be moved.A modular sectional, comprised of smaller pieces that are combined into different configurations, solves this problem. The pieces can be easily shipped to the buyer using standard shipping services, and the sectional can be disassembled and moved quickly and easily.Lovesac is one company that hasfound success selling modular sectionals. The company's \"sactionals\" aren't cheap, but they've become increasingly popular as the pandemic has dragged on. Lovesac booked 43.5% sales growth in the third quarter of last year, and the company turned a profit thanks to higher sales, a higher gross margin, and some solid operating leverage.Lovesac is still a small company, with third-quarter revenue of just $75 million, but the total addressable market is quite large. The market for retail furniture and bedding in the U.S. this year will top $114 billion, according to IBISWorld. Lovesac only addresses a portion of this market, and its premium pricing further limits its market share. But it's not hard to imagine Lovesac eventually topping $1 billion in annual sales.Shares of Lovesac have soared over the past year, pushing up the market capitalization to nearly $1 billion. That's a high price to pay for a small furniture company, so it may be wise to wait for a significant pullback before jumping in. There are significant risks, including lower-cost competition from other modular furniture companies and a potential slowdown in the housing market. But the modular furniture trend seems likely to continue, and Lovesac is a leader.2. Paycom SoftwarePaycom is a bit of an outlier when it comes tosoftware-as-a-service stocks. The HR and payroll software provider is growing at a double-digit rate, but it's also highly profitable. While many SaaS companies pour cash into sales and marketing to boost growth at the expense of the bottom line, Paycom does not.Revenue was up 12.3% in Paycom's third quarter, not a bad result given Paycom's customer base skews small. Paycom's target client size range is 50 to 5,000 employees, and some of those clients have been forced to decrease headcount due to the pandemic. This is hurting Paycom's recurring revenue, and it will continue to do so until headcounts return to pre-pandemic levels.Despite the pandemic headwind, Paycom has remained solidly profitable. GAAP net income was $27.5 million in the third quarter, and the company spent just one-third of revenue on sales and marketing. Net income was down from the prior-year period, but that dip is likely just a pandemic-driven bump in the road for Paycom.Other SaaS companies spend far more to acquire customers. Telemedicine companyTeladoc, for example, poured nearly half of its revenue into sales and marketing in its latest quarter. SaaS giantSalesforcestill spends around 45% of revenue on sales and marketing despite its size.Paycom hasn't benefited from the pandemic, but the company has remained profitable and continued to grow. The stock is pricey, trading for over 25 times sales and over 150 times earnings. If the market heads lower and drags Paycom down with it, it's a stock to consider.","news_type":1,"symbols_score_info":{"LOVE":0.9,"PAYC":0.9}},"isVote":1,"tweetType":1,"viewCount":2579,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365456162,"gmtCreate":1614774115356,"gmtModify":1703480924792,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KMPH\">$KemPharm, Inc.(KMPH)$</a>Anyone not able to sell during premarket?","listText":"<a href=\"https://laohu8.com/S/KMPH\">$KemPharm, Inc.(KMPH)$</a>Anyone not able to sell during premarket?","text":"$KemPharm, Inc.(KMPH)$Anyone not able to sell during premarket?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/365456162","isVote":1,"tweetType":1,"viewCount":597,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366747006,"gmtCreate":1614568086205,"gmtModify":1703478281545,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Oh no","listText":"Oh no","text":"Oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366747006","repostId":"1134884062","repostType":4,"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366821361,"gmtCreate":1614438266853,"gmtModify":1703477566043,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366821361","repostId":"1103930774","repostType":4,"repost":{"id":"1103930774","kind":"news","pubTimestamp":1614334872,"share":"https://www.laohu8.com/m/news/1103930774?lang=zh_CN&edition=full","pubTime":"2021-02-26 18:21","market":"us","language":"en","title":"Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103930774","media":"Motley Fool ","summary":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an intervi","content":"<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</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\">\nWhy QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</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\">2021-02-26 18:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/\">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":{"QS":"Quantumscape Corp."},"source_url":"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103930774","content_text":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.\nWhat happened\nThe stock of aspiring solid-state battery technology company QuantumScape (NYSE:QS) has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.\nSo what\nShares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the electric-vehicle (EV) sector as a speculative stock hoping to revolutionize EV battery technology.\nToday, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.\nNow what\nDuring today's interview, Singh reiterated some positive developments the company shared with investors last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.\nThe company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.\nSingh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.\nSuccessful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.","news_type":1,"symbols_score_info":{"QS":0.9}},"isVote":1,"tweetType":1,"viewCount":763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361149439,"gmtCreate":1614215956721,"gmtModify":1634550675744,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/361149439","repostId":"2113136856","repostType":4,"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":361921058,"gmtCreate":1614187889874,"gmtModify":1634550791134,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"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/361921058","repostId":"1138795890","repostType":4,"isVote":1,"tweetType":1,"viewCount":745,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360757818,"gmtCreate":1613983631034,"gmtModify":1634551669127,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"oh no","listText":"oh no","text":"oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360757818","repostId":"1135257653","repostType":4,"repost":{"id":"1135257653","kind":"news","pubTimestamp":1613972461,"share":"https://www.laohu8.com/m/news/1135257653?lang=zh_CN&edition=full","pubTime":"2021-02-22 13:41","market":"us","language":"en","title":"Buffett Sells Apple: Should Investors Worry?<blockquote>巴菲特抛售苹果：投资者应该担心吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135257653","media":"TheStreet","summary":"Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter","content":"<p>Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter of 2020. However, the Apple Maven does not think that investors should be too concerned.</p><p><blockquote>Warren Buffett旗下Berkshire Hathaway已在2020年第四季度出售了价值74亿美元的苹果股票。不过，这位苹果专家认为投资者不应该过于担心。</blockquote></p><p> Warren Buffet’s Berkshire Hathaway hasprovidedan update on its portfolio holdings, this time as of December 2020. Among other key changes that I will review further below, Apple stood out.</p><p><blockquote>沃伦·巴菲特(Warren Buffet)的伯克希尔·哈撒韦公司(Berkshire Hathaway)提供了截至2020年12月的投资组合最新情况。在我将在下面进一步回顾的其他关键变化中，苹果脱颖而出。</blockquote></p><p> Between the third and fourth quarters, the Oracle of Omaha’s conglomerate shed about 57 million shares of the Cupertino company. At mid-February prices, the sale amounted to about $7.4 billion worth of the stock. Coincidence or not, Apple shares have been spinning their wheels at around $130, nearly 9% off January 2021 all-time highs.</p><p><blockquote>第三季度至第四季度期间，这家奥马哈先知的企业集团抛售了库比蒂诺公司约5700万股股票。按2月中旬的价格计算，此次出售的股票价值约74亿美元。不管是不是巧合，苹果股价一直在130美元左右旋转，比2021年1月的历史高点低了近9%。</blockquote></p><p> But should investors care? Do Warren Buffett and his management team appear to be any less bullish towards Apple now than they were a few months ago?</p><p><blockquote>但投资者应该关心吗？与几个月前相比，Warren Buffett和他的管理团队现在对苹果的看好程度是否有所下降？</blockquote></p><p> <b>More of a trim than a bearish move</b></p><p><blockquote><b>与其说是看跌，不如说是削减</b></blockquote></p><p> The sale of Apple shares in the fourth quarter led to Berkshire Hathaway allocating substantially less to Apple&nbsp;than about half a year ago, when nearly 48% of the portfolio was parked in this stock. As the chart below depicts, Apple now accounts for “only” 43% of the conglomerate’s capital.</p><p><blockquote>第四季度出售苹果股票导致Berkshire Hathaway对苹果的配置比大约半年前大幅减少，当时近48%的投资组合都投资于这只股票。如下图所示，苹果目前“仅”占该集团资本的43%。</blockquote></p><p> But the Apple Maven is not too concerned about Apple losing the Buffett seal of approval, for two reasons.</p><p><blockquote>但这位苹果专家并不太担心苹果会失去巴菲特的认可，原因有二。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8576d2a122784d91361af747462f374\" tg-width=\"1240\" tg-height=\"934\"><span>Allocation of Berkshire Hathaway's Portfolio, Dec 2020.</span></p><p><blockquote><p class=\"t-img-caption\"><span>伯克希尔哈撒韦公司投资组合的分配，2020年12月。</span></p></blockquote></p><p> First, 43% of $277 billion is still quite a bit of money. Note, for example, that Warren Buffett and crew barely invest in tech stocks. Apple is a sizable and meaningful exception to this rule.</p><p><blockquote>首先，2770亿美元中的43%仍然是一大笔钱。例如，请注意，沃伦·巴菲特和他的团队几乎不投资科技股。苹果是这一规则的一个相当大且有意义的例外。</blockquote></p><p> Second, Apple stock was worth a whole lot more at the end of the fourth quarter compared to the third: $132 vs. $115 per share. Therefore, Berkshire’s total investment amount in Apple did not decrease between the two periods. In fact, it increased from $111 billion to $120 billion.</p><p><blockquote>其次，与第三季度末相比，苹果股票第四季度末的价值要高得多：每股132美元对115美元。因此，Berkshire在苹果的总投资金额在两个时期之间并没有减少。事实上，它从1110亿美元增加到了1200亿美元。</blockquote></p><p> Considering how much Apple stock Berkshire owns, the Apple Maven thinks that it was reasonable for the conglomerate to trim a bit of its Apple position. Therefore, I still believe that Buffett and his companyremain a raging Apple bull.</p><p><blockquote>考虑到伯克希尔持有的苹果股票数量，这位苹果专家认为伯克希尔削减其苹果头寸是合理的。因此，我仍然相信巴菲特和他的公司仍然是苹果的狂热多头。</blockquote></p><p> <b>New Berkshire bets</b></p><p><blockquote><b>伯克希尔新赌注</b></blockquote></p><p> Apple was not the only stock to make the Berkshire Hathaway headlines. Below are a few noteworthy additions to the portfolio:</p><p><blockquote>苹果并不是唯一登上Berkshire Hathaway头条的股票。以下是投资组合中一些值得注意的新增内容：</blockquote></p><p> <ul>  <li><b>Verizon</b>: Berkshire now has a sizable 3.5% stake in the telecom giant, representing 3% of the conglomerate’s portfolio. Not much of a surprise, Verizon stock ended the Wednesday trading session up about 5%.</li>  <li><b>Chevron</b>: another large addition to the portfolio was the oil and gas supermajor. Berkshire now owns 2.5% of the company.</li>  <li><b>Marsh &amp; McLennan</b>: this was the third and last new name to pop up in Berkshire’s 13-F filing. Buffett and co. now own 0.8% of the insurance and consulting company.</li> </ul></p><p><blockquote><ul><li><b>Verizon</b>：伯克希尔目前持有这家电信巨头3.5%的股份，占该集团投资组合的3%。毫不奇怪，Verizon股价周三收盘上涨约5%。</li><li><b>雪佛龙</b>：投资组合中的另一个重要成员是石油和天然气巨头。伯克希尔目前拥有该公司2.5%的股份。</li><li><b>马什-麦克伦南律师事务所</b>：这是伯克希尔13-F文件中出现的第三个也是最后一个新名字。巴菲特公司目前拥有这家保险和咨询公司0.8%的股份。</li></ul></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>Buffett Sells Apple: Should Investors Worry?<blockquote>巴菲特抛售苹果：投资者应该担心吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuffett Sells Apple: Should Investors Worry?<blockquote>巴菲特抛售苹果：投资者应该担心吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-02-22 13:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter of 2020. However, the Apple Maven does not think that investors should be too concerned.</p><p><blockquote>Warren Buffett旗下Berkshire Hathaway已在2020年第四季度出售了价值74亿美元的苹果股票。不过，这位苹果专家认为投资者不应该过于担心。</blockquote></p><p> Warren Buffet’s Berkshire Hathaway hasprovidedan update on its portfolio holdings, this time as of December 2020. Among other key changes that I will review further below, Apple stood out.</p><p><blockquote>沃伦·巴菲特(Warren Buffet)的伯克希尔·哈撒韦公司(Berkshire Hathaway)提供了截至2020年12月的投资组合最新情况。在我将在下面进一步回顾的其他关键变化中，苹果脱颖而出。</blockquote></p><p> Between the third and fourth quarters, the Oracle of Omaha’s conglomerate shed about 57 million shares of the Cupertino company. At mid-February prices, the sale amounted to about $7.4 billion worth of the stock. Coincidence or not, Apple shares have been spinning their wheels at around $130, nearly 9% off January 2021 all-time highs.</p><p><blockquote>第三季度至第四季度期间，这家奥马哈先知的企业集团抛售了库比蒂诺公司约5700万股股票。按2月中旬的价格计算，此次出售的股票价值约74亿美元。不管是不是巧合，苹果股价一直在130美元左右旋转，比2021年1月的历史高点低了近9%。</blockquote></p><p> But should investors care? Do Warren Buffett and his management team appear to be any less bullish towards Apple now than they were a few months ago?</p><p><blockquote>但投资者应该关心吗？与几个月前相比，Warren Buffett和他的管理团队现在对苹果的看好程度是否有所下降？</blockquote></p><p> <b>More of a trim than a bearish move</b></p><p><blockquote><b>与其说是看跌，不如说是削减</b></blockquote></p><p> The sale of Apple shares in the fourth quarter led to Berkshire Hathaway allocating substantially less to Apple&nbsp;than about half a year ago, when nearly 48% of the portfolio was parked in this stock. As the chart below depicts, Apple now accounts for “only” 43% of the conglomerate’s capital.</p><p><blockquote>第四季度出售苹果股票导致Berkshire Hathaway对苹果的配置比大约半年前大幅减少，当时近48%的投资组合都投资于这只股票。如下图所示，苹果目前“仅”占该集团资本的43%。</blockquote></p><p> But the Apple Maven is not too concerned about Apple losing the Buffett seal of approval, for two reasons.</p><p><blockquote>但这位苹果专家并不太担心苹果会失去巴菲特的认可，原因有二。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8576d2a122784d91361af747462f374\" tg-width=\"1240\" tg-height=\"934\"><span>Allocation of Berkshire Hathaway's Portfolio, Dec 2020.</span></p><p><blockquote><p class=\"t-img-caption\"><span>伯克希尔哈撒韦公司投资组合的分配，2020年12月。</span></p></blockquote></p><p> First, 43% of $277 billion is still quite a bit of money. Note, for example, that Warren Buffett and crew barely invest in tech stocks. Apple is a sizable and meaningful exception to this rule.</p><p><blockquote>首先，2770亿美元中的43%仍然是一大笔钱。例如，请注意，沃伦·巴菲特和他的团队几乎不投资科技股。苹果是这一规则的一个相当大且有意义的例外。</blockquote></p><p> Second, Apple stock was worth a whole lot more at the end of the fourth quarter compared to the third: $132 vs. $115 per share. Therefore, Berkshire’s total investment amount in Apple did not decrease between the two periods. In fact, it increased from $111 billion to $120 billion.</p><p><blockquote>其次，与第三季度末相比，苹果股票第四季度末的价值要高得多：每股132美元对115美元。因此，Berkshire在苹果的总投资金额在两个时期之间并没有减少。事实上，它从1110亿美元增加到了1200亿美元。</blockquote></p><p> Considering how much Apple stock Berkshire owns, the Apple Maven thinks that it was reasonable for the conglomerate to trim a bit of its Apple position. Therefore, I still believe that Buffett and his companyremain a raging Apple bull.</p><p><blockquote>考虑到伯克希尔持有的苹果股票数量，这位苹果专家认为伯克希尔削减其苹果头寸是合理的。因此，我仍然相信巴菲特和他的公司仍然是苹果的狂热多头。</blockquote></p><p> <b>New Berkshire bets</b></p><p><blockquote><b>伯克希尔新赌注</b></blockquote></p><p> Apple was not the only stock to make the Berkshire Hathaway headlines. Below are a few noteworthy additions to the portfolio:</p><p><blockquote>苹果并不是唯一登上Berkshire Hathaway头条的股票。以下是投资组合中一些值得注意的新增内容：</blockquote></p><p> <ul>  <li><b>Verizon</b>: Berkshire now has a sizable 3.5% stake in the telecom giant, representing 3% of the conglomerate’s portfolio. Not much of a surprise, Verizon stock ended the Wednesday trading session up about 5%.</li>  <li><b>Chevron</b>: another large addition to the portfolio was the oil and gas supermajor. Berkshire now owns 2.5% of the company.</li>  <li><b>Marsh &amp; McLennan</b>: this was the third and last new name to pop up in Berkshire’s 13-F filing. Buffett and co. now own 0.8% of the insurance and consulting company.</li> </ul></p><p><blockquote><ul><li><b>Verizon</b>：伯克希尔目前持有这家电信巨头3.5%的股份，占该集团投资组合的3%。毫不奇怪，Verizon股价周三收盘上涨约5%。</li><li><b>雪佛龙</b>：投资组合中的另一个重要成员是石油和天然气巨头。伯克希尔目前拥有该公司2.5%的股份。</li><li><b>马什-麦克伦南律师事务所</b>：这是伯克希尔13-F文件中出现的第三个也是最后一个新名字。巴菲特公司目前拥有这家保险和咨询公司0.8%的股份。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/news/buffett-sells-apple-should-investors-worry\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.thestreet.com/apple/news/buffett-sells-apple-should-investors-worry","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135257653","content_text":"Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter of 2020. However, the Apple Maven does not think that investors should be too concerned.\nWarren Buffet’s Berkshire Hathaway hasprovidedan update on its portfolio holdings, this time as of December 2020. Among other key changes that I will review further below, Apple stood out.\nBetween the third and fourth quarters, the Oracle of Omaha’s conglomerate shed about 57 million shares of the Cupertino company. At mid-February prices, the sale amounted to about $7.4 billion worth of the stock. Coincidence or not, Apple shares have been spinning their wheels at around $130, nearly 9% off January 2021 all-time highs.\nBut should investors care? Do Warren Buffett and his management team appear to be any less bullish towards Apple now than they were a few months ago?\nMore of a trim than a bearish move\nThe sale of Apple shares in the fourth quarter led to Berkshire Hathaway allocating substantially less to Apple than about half a year ago, when nearly 48% of the portfolio was parked in this stock. As the chart below depicts, Apple now accounts for “only” 43% of the conglomerate’s capital.\nBut the Apple Maven is not too concerned about Apple losing the Buffett seal of approval, for two reasons.\nAllocation of Berkshire Hathaway's Portfolio, Dec 2020.\nFirst, 43% of $277 billion is still quite a bit of money. Note, for example, that Warren Buffett and crew barely invest in tech stocks. Apple is a sizable and meaningful exception to this rule.\nSecond, Apple stock was worth a whole lot more at the end of the fourth quarter compared to the third: $132 vs. $115 per share. Therefore, Berkshire’s total investment amount in Apple did not decrease between the two periods. In fact, it increased from $111 billion to $120 billion.\nConsidering how much Apple stock Berkshire owns, the Apple Maven thinks that it was reasonable for the conglomerate to trim a bit of its Apple position. Therefore, I still believe that Buffett and his companyremain a raging Apple bull.\nNew Berkshire bets\nApple was not the only stock to make the Berkshire Hathaway headlines. Below are a few noteworthy additions to the portfolio:\n\nVerizon: Berkshire now has a sizable 3.5% stake in the telecom giant, representing 3% of the conglomerate’s portfolio. Not much of a surprise, Verizon stock ended the Wednesday trading session up about 5%.\nChevron: another large addition to the portfolio was the oil and gas supermajor. Berkshire now owns 2.5% of the company.\nMarsh & McLennan: this was the third and last new name to pop up in Berkshire’s 13-F filing. Buffett and co. now own 0.8% of the insurance and consulting company.","news_type":1,"symbols_score_info":{"AAPL":0.9,"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360338458,"gmtCreate":1613828464274,"gmtModify":1634552090770,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360338458","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":384802860,"gmtCreate":1613634586650,"gmtModify":1634552857673,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/384802860","repostId":"1112683598","repostType":4,"isVote":1,"tweetType":1,"viewCount":578,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382529322,"gmtCreate":1613468222266,"gmtModify":1634553564769,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/382529322","repostId":"2111838268","repostType":4,"isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382500421,"gmtCreate":1613460877663,"gmtModify":1634553591666,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Yea","listText":"Yea","text":"Yea","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/382500421","repostId":"1152564844","repostType":4,"isVote":1,"tweetType":1,"viewCount":613,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":320510382,"gmtCreate":1615144684446,"gmtModify":1703484945026,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/320510382","repostId":"1116031861","repostType":4,"repost":{"id":"1116031861","kind":"news","weMediaInfo":{"introduction":"为用户提供金融资讯、行情、数据，旨在帮助投资者理解世界，做投资决策。","home_visible":1,"media_name":"老虎资讯综合","id":"102","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1614955424,"share":"https://www.laohu8.com/m/news/1116031861?lang=zh_CN&edition=full","pubTime":"2021-03-05 22:43","market":"us","language":"en","title":"Senseonics plunged more than 9%<blockquote>Senseonics暴跌超9%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1116031861","media":"老虎资讯综合","summary":"(March 5) Senseonics plunged more than 9%. Senseonics downgraded to underperform from market perform","content":"<p>(March 5)&nbsp;Senseonics plunged more than 9%.&nbsp;</p><p><blockquote>（3月5日）Senseonics暴跌超9%。</blockquote></p><p>Senseonics downgraded to underperform from market perform at Raymond James.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)将Senseonics评级从市场表现下调至表现不佳。</blockquote></p><p>Senseonics Holdings, Inc. reported quarterly losses of $(0.41) per share. This is a 127.78 percent decrease over losses of $(0.18) per share from the same period last year.  The company reported quarterly sales of $3.90 million which beat the analyst consensus estimate of $3.05 million by 27.87 percent.  This is a 56.44 percent decrease over sales of $8.95 million the same period last year.</p><p><blockquote>Senseonics Holdings，Inc.报告季度亏损为每股0.41美元。与去年同期每股亏损(0.18)美元相比，减少了127.78%。该公司报告季度销售额为390万美元，比分析师普遍预期的305万美元高出27.87%。与去年同期895万美元的销售额相比，下降了56.44%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8692adfc74e9219bd4e30a757ad3a1dd\" tg-width=\"1050\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Senseonics plunged more than 9%<blockquote>Senseonics暴跌超9%</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\">\nSenseonics plunged more than 9%<blockquote>Senseonics暴跌超9%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\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\">老虎资讯综合 </p>\n<p class=\"h-time smaller\">2021-03-05 22:43</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(March 5)&nbsp;Senseonics plunged more than 9%.&nbsp;</p><p><blockquote>（3月5日）Senseonics暴跌超9%。</blockquote></p><p>Senseonics downgraded to underperform from market perform at Raymond James.</p><p><blockquote>雷蒙德·詹姆斯(Raymond James)将Senseonics评级从市场表现下调至表现不佳。</blockquote></p><p>Senseonics Holdings, Inc. reported quarterly losses of $(0.41) per share. This is a 127.78 percent decrease over losses of $(0.18) per share from the same period last year.  The company reported quarterly sales of $3.90 million which beat the analyst consensus estimate of $3.05 million by 27.87 percent.  This is a 56.44 percent decrease over sales of $8.95 million the same period last year.</p><p><blockquote>Senseonics Holdings，Inc.报告季度亏损为每股0.41美元。与去年同期每股亏损(0.18)美元相比，减少了127.78%。该公司报告季度销售额为390万美元，比分析师普遍预期的305万美元高出27.87%。与去年同期895万美元的销售额相比，下降了56.44%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8692adfc74e9219bd4e30a757ad3a1dd\" tg-width=\"1050\" tg-height=\"481\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SENS":"Senseonics Holdings,Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1116031861","content_text":"(March 5) Senseonics plunged more than 9%. Senseonics downgraded to underperform from market perform at Raymond James.Senseonics Holdings, Inc. reported quarterly losses of $(0.41) per share. This is a 127.78 percent decrease over losses of $(0.18) per share from the same period last year.  The company reported quarterly sales of $3.90 million which beat the analyst consensus estimate of $3.05 million by 27.87 percent.  This is a 56.44 percent decrease over sales of $8.95 million the same period last year.","news_type":1,"symbols_score_info":{"SENS":0.9}},"isVote":1,"tweetType":1,"viewCount":1611,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365456162,"gmtCreate":1614774115356,"gmtModify":1703480924792,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/KMPH\">$KemPharm, Inc.(KMPH)$</a>Anyone not able to sell during premarket?","listText":"<a href=\"https://laohu8.com/S/KMPH\">$KemPharm, Inc.(KMPH)$</a>Anyone not able to sell during premarket?","text":"$KemPharm, Inc.(KMPH)$Anyone not able to sell during premarket?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/365456162","isVote":1,"tweetType":1,"viewCount":597,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325384329,"gmtCreate":1615865247461,"gmtModify":1703494180621,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/325384329","repostId":"1104334279","repostType":4,"repost":{"id":"1104334279","kind":"news","pubTimestamp":1615865048,"share":"https://www.laohu8.com/m/news/1104334279?lang=zh_CN&edition=full","pubTime":"2021-03-16 11:24","market":"us","language":"en","title":"The Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom<blockquote>特斯拉泡沫：对电动汽车的押注和SPAC的崛起导致了新版本的互联网繁荣</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104334279","media":"MarketWatch","summary":"Investors take on the role of venture capitalists as they look for the next big thing, overvaluing y","content":"<p>Investors take on the role of venture capitalists as they look for the next big thing, overvaluing young companies years before they could even begin to show the type of returns that would validate the valuation — sound familiar?</p><p><blockquote>投资者在寻找下一件大事时扮演了风险资本家的角色，在年轻公司开始展示验证估值的回报类型之前几年就高估了它们——听起来很熟悉吗？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f34bbf738000822f7553253aaaa88b3\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH插图/ISTOCKPHOTO</span></p></blockquote></p><p> In the 1990s, after seeing young tech stocks surge, investors wildly bet on young companies with little to no revenue on promises that a huge sea change was on the horizon for the global economy.</p><p><blockquote>20世纪90年代，在看到年轻的科技股飙升后，投资者疯狂押注于收入很少甚至没有收入的年轻公司，因为他们承诺全球经济即将发生巨大的变化。</blockquote></p><p> In the 2020s,something similar is happening: Young electric-vehicle and autonomous-vehicle stocks have been surging following the meteoric rise of Tesla Inc.&nbsp;and Chinese rivals like Nio Inc.,even though a fully electrified future for the automotive industry is years, or even decades, away.</p><p><blockquote>在2020年代，类似的事情正在发生：随着特斯拉公司和蔚来等中国竞争对手的迅速崛起，年轻的电动汽车和自动驾驶汽车股票一直在飙升，尽管汽车行业完全电气化的未来还需要数年甚至几十年的时间。</blockquote></p><p> This current unique bubble has been forming from a combination of a lot of cash looking for a home; the record number of special-purpose acquisition companies, or SPACs, going public; and investors looking for the next Tesla. The most crucial ingredient in that recipe is blank-check companies focused on buying electric-vehicle makers, which give both seasoned institutional and individual investors the chance to role-play as venture capitalists.</p><p><blockquote>这个当前独特的泡沫是由大量寻找家园的现金组合而成的；上市的特殊目的收购公司（SPAC）数量创历史新高；以及寻找下一个特斯拉的投资者。该配方中最关键的成分是专注于收购电动汽车制造商的空白支票公司，这为经验丰富的机构和个人投资者提供了扮演风险投资家角色的机会。</blockquote></p><p> “SPAC investors have been much more willing to speculate with the aim of buying ‘the next Tesla,'” said Matt Kennedy, senior IPO market strategist at Renaissance Capital, adding that the soaring returns in SPAC-land&nbsp;have attracted institutional buyers as well.</p><p><blockquote>Renaissance Capital高级IPO市场策略师Matt Kennedy表示：“SPAC投资者更愿意进行投机，目的是购买‘下一个特斯拉’。”他补充说，SPAC-land的飙升回报也吸引了机构买家。</blockquote></p><p> Some air may be leaking from the bubble, though. Tesla’s shares succumbed to the law of gravity in late February and early March, tumbling from their stratospheric heights and&nbsp;losing a stunning $277 billion in market value in a month. Those losses reversed, however, and as of Monday Tesla was worth basically the same as at the end of 2020 — eight times its valuation at the beginning of last year. Chinese rivals such as Nio, Li Auto Inc.&nbsp;and Xpeng Inc.&nbsp;were still down on the year, but had also bounced back from lows.</p><p><blockquote>不过，一些空气可能会从气泡中泄漏出来。特斯拉的股价在2月底和3月初屈服于万有引力定律，从平流层的高度暴跌，一个月内市值损失了惊人的2770亿美元。然而，这些损失得到了扭转，截至周一，特斯拉的市值与2020年底基本持平——是去年初估值的八倍。蔚来、理想汽车和小鹏汽车等中国竞争对手今年仍处于下滑状态，但也已从低点反弹。</blockquote></p><p> SPACs have continued to show rampant speculation throughout, as investors looked for the types of gains those stocks enjoyed in 2020.</p><p><blockquote>SPAC自始至终继续表现出猖獗的投机行为，因为投资者正在寻找这些股票在2020年享有的收益类型。</blockquote></p><p> “I think the electric-vehicle space is something where investors are chasing past returns,” said University of Florida Professor Jay Ritter, who has both invested in SPACs and shorted Tesla shares of late. “As with all bubbles, it’s hard to know where the turning point is going to be.”</p><p><blockquote>佛罗里达大学教授Jay Ritter表示：“我认为电动汽车领域是投资者追逐过去回报的领域。”他最近投资了SPAC并做空了特斯拉股票。“与所有泡沫一样，很难知道转折点会在哪里。”</blockquote></p><p> <b>Two cautionary examples of EV hype</b></p><p><blockquote><b>电动汽车炒作的两个警示例子</b></blockquote></p><p> Two EV companies are good examples of the caution needed by investors and the problems that exist in these early-stage ventures. Nikola Corp.&nbsp;was one of the early EV makers to get swept up and purchased by a SPAC, which then attracted an army of investors who drove prices sky high. But a short seller, Hindenburg Research, helped deflate that bubble.In September, Hindenburg published a detailed report, calling Nikola an “intricate fraud”&nbsp;and pointed out the company staged a deceiving video of a truck running on its hydrogen fuel-cell technology, when it was actually filmed slowly rolling down a hill, not running on its own power.</p><p><blockquote>两家电动汽车公司很好地说明了投资者需要谨慎以及这些早期企业存在的问题。Nikola Corp.是最早被SPAC收购的电动汽车制造商之一，随后吸引了大批投资者，将价格推高。但卖空者兴登堡研究公司帮助缩小了泡沫。9月，兴登堡发表了一份详细报告，称尼古拉是一个“错综复杂的欺诈行为”，并指出该公司制作了一段欺骗性视频，视频中一辆卡车使用其氢燃料电池技术行驶，而实际上它被拍摄到慢慢滚下山坡，而不是行驶靠自己的力量。</blockquote></p><p> Nikola, which surged to a peak of around $66 last July, before Hindenburg’s report, closed at $15.85 Tuesday.</p><p><blockquote>去年7月，在兴登堡报告发布之前，尼古拉股价飙升至66美元左右的峰值，周二收于15.85美元。</blockquote></p><p> While Nikola could be in the vaporware camp, Lucid Motors Inc., is another story. It is seen as a legitimate potential Tesla rival, based in Newark, Calif., not far from Tesla’s Silicon Valley manufacturing site in Fremont. Lucid was founded by Peter Rawlinson, the chief engineer of the Tesla Model S, and is developing an electric luxury sedan that is expected to launch this year, as well as an electric SUV.</p><p><blockquote>虽然Nikola可能属于vaporware阵营，但Lucid Motors Inc.则是另一回事。它被视为特斯拉合法的潜在竞争对手，总部位于加州纽瓦克，距离特斯拉位于硅谷的生产基地Fremont不远。Lucid由特斯拉Model S的首席工程师Peter Rawlinson创立，正在开发一款预计今年推出的电动豪华轿车，以及一款电动SUV。</blockquote></p><p> The mania around SPACs struck Lucid as well. After news leaked in January that Lucid was about to be acquired by a SPAC called Churchill Capital Group,shares in the SPAC surged to unreasonable levels as speculators jumped in. When the merger was actually announced in late February, it included an investment from Wall Street that valued the company far less than the public had,and its shares plunged.</p><p><blockquote>围绕SPAC的狂热也让Lucid感到震惊。在1月份Lucid即将被一家名为Churchill Capital Group的SPAC收购的消息泄露后，随着投机者的涌入，SPAC的股价飙升至不合理的水平。当合并在二月底真正宣布时，其中包括华尔街的一项投资，该投资对该公司的估值远低于公众，其股价暴跌。</blockquote></p><p> There could be plenty more pain for speculators looking to get in on EV companies. In January alone, according to Dealogic, 90 SPACs filed to go public. While only a handful of those companies actually said they plan to focus on electric vehicles or batteries, many did not identify a target industry or market for acquisitions but did mention a sustainable focus — for example, Switchback II&nbsp;of Dallas, which raised $275 million in its January IPO, said it intends to focus on companies in the “broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.”</p><p><blockquote>对于希望进入电动汽车公司的投机者来说，可能会面临更多痛苦。根据Dealogic的数据，仅在1月份，就有90家SPAC申请上市。虽然其中只有少数公司实际上表示计划专注于电动汽车或电池，但许多公司没有确定收购的目标行业或市场，但确实提到了可持续重点——例如，达拉斯的Switchback II在一月份的首次公开募股中筹集了2.75亿美元，表示打算专注于“广泛的能源转型或可持续发展领域的公司，目标是需要创新解决方案脱碳以实现关键减排目标的行业”。</blockquote></p><p></p><p> “Never underestimate the market’s ability to find products for people who have money. The market has more money than product right now. The shelf of near-ready IPOs was pretty bare, and laid more barren with COVID-19,” said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in an interview late last year. “So all of a sudden, there is good money looking for public companies. It’s incredible how fast this submarket has reformed around SPACS.”</p><p><blockquote>“永远不要低估市场为有钱人寻找产品的能力。现在市场上的钱比产品还多。几乎准备好的IPO货架上空空如也，新冠肺炎让它们变得更加贫瘠，”斯科特·加洛韦（Scott Galloway）是纽约大学斯特恩商学院（Stern School of Business）营销学教授，去年年底接受采访时表示。“所以突然之间，有很多资金在寻找上市公司。这个子市场围绕SPAC的改革速度之快令人难以置信。”</blockquote></p><p> Typical IPO buyers like Fidelity and Franklin Templeton are making large investments in SPACs through private investment in public equities, or PIPEs, the type of investment that pumped into Lucid as its SPAC traded much higher.</p><p><blockquote>富达(Fidelity)和富兰克林邓普顿(Franklin Templeton)等典型IPO买家正在通过对公共股票(PIPE)的私人投资对SPAC进行大量投资，这种投资类型在Lucid的SPAC交易大幅上涨时注入了Lucid。</blockquote></p><p> SPACs represent an unusual investment opportunity, because they take place in two phases. In the first phase, the blank-check company raises money in its IPO, the pre-acquisition phase, which can offer investors a good return. They also offer investors the ability to exit, with original funds intact, if a proposed acquisition is not to the liking of the investors.</p><p><blockquote>SPAC代表了一个不同寻常的投资机会，因为它们分两个阶段进行。在第一阶段，空白支票公司在首次公开募股（收购前阶段）筹集资金，这可以为投资者提供良好的回报。如果拟议的收购不符合投资者的喜好，它们还为投资者提供了退出的能力，原始资金完好无损。</blockquote></p><p> So far investors have had an excellent run in SPACs in general, especially hedge funds, or the SPAC mafia, Ritter said. According to Dealogic, a total of 262 blank-check companies went public in U.S. markets in 2020, with a current average performance of 21.3% for those 2020 deals. So far for 2021 IPO SPACs, though, the current average performance is 1.95%.</p><p><blockquote>里特表示，到目前为止，投资者总体上在SPAC方面表现出色，尤其是对冲基金或SPAC黑手党。根据Dealogic的数据，2020年共有262家空白支票公司在美国市场上市，目前这些2020年交易的平均表现为21.3%。不过，到目前为止，2021年IPO SPAC的平均表现为1.95%。</blockquote></p><p> Ritter was so impressed with the returns that he invested in a few SPACs himself in the aftermarket, after seeing his funds in an investment account earn barely anything in interest.</p><p><blockquote>里特对回报印象深刻，在看到自己投资账户中的资金几乎没有赚取任何利息后，他自己在售后市场投资了一些SPAC。</blockquote></p><p> “There is investor enthusiasm. Even though supply has been exploding, investor demand has been growing even faster,” Ritter said, adding that most of the electric-vehicle companies have chosen to go public via a SPAC and not the standard, more costly, IPO process.</p><p><blockquote>里特表示：“投资者热情高涨。尽管供应呈爆炸式增长，但投资者需求增长更快。”他补充说，大多数电动汽车公司都选择通过SPAC上市，而不是标准的、成本更高的IPO流程。</blockquote></p><p> SPACs are typically a better investment in the pre-acquisition phase, which can go as long as two years, the time limit set for companies to make an acquisition. Only early investors, though, are often able to receive the biggest security for their investment in SPACs. They usually receive a warrant with each share of the IPO, that entitles them to buy a share at a prearranged price. Public investors in the aftermarket deal don’t get this option,which is why hedge funds have zeroed in on SPACs as a sure thing.</p><p><blockquote>SPAC通常是收购前阶段更好的投资，收购前阶段可能长达两年，这是公司进行收购的时间限制。然而，通常只有早期投资者才能从SPAC的投资中获得最大的保障。他们通常会收到每股IPO股票的认股权证，使他们有权以预先安排的价格购买股票。售后交易的公共投资者没有这个选择，这就是为什么对冲基金肯定会将SPAC作为一件事。</blockquote></p><p> Ritter noted that even though he drives a Tesla himself, he has been short the stock.</p><p><blockquote>里特指出，尽管他自己驾驶特斯拉，但他一直做空该股。</blockquote></p><p> “When it got added to the S&amp;P 500, I shorted more shares. So far it’s been a wealth-losing activity for me,” Ritter said, adding that he also believes many investors are hoping for a repeat performance of Tesla. “Investors tend to chase past returns. Fifteen years ago it was investing in real estate, which ended badly; 21 years ago the internet bubble was about to peak.”</p><p><blockquote>里特表示：“当它被添加到标普500时，我做空了更多股票。到目前为止，这对我来说是一项财富损失活动。”他补充说，他还相信许多投资者都希望特斯拉的表现能够重演。“投资者倾向于追逐过去的回报。15年前是投资房地产，结局很糟糕；21年前互联网泡沫即将见顶。”</blockquote></p><p> <b>EV SPACs as the new dot-com bubble</b></p><p><blockquote><b>电动汽车SPAC成为新的互联网泡沫</b></blockquote></p><p> Just as the dot-com boom and bust of 1999-2000 was often compared with the tulip mania in the 17th century of the then-Dutch Republic, it is worth asking the same question about some of the different bubbles in the market today, from the GameStop Corp.&nbsp;insanity to the electric-vehicle hype.</p><p><blockquote>正如人们经常将1999-2000年的互联网繁荣和萧条与17世纪当时荷兰共和国的郁金香狂热进行比较一样，对于当今市场上的一些不同泡沫，也值得提出同样的问题，从游戏驿站公司的疯狂到电动汽车的炒作。</blockquote></p><p> During both the tulip boom and the dot-com boom, new and relatively unknown products were introduced, and prices (in futures contracts for tulips, stock prices for dot-com companies) reached staggering levels based on hype for potential demand that was not sustainable. Many companies like Pets.com and Webvan ultimately collapsed, with business ideas that were ahead of their time, while others took advantage of the market mania, such as WorldCom, which deceived investors with one of the biggest accounting frauds in history. Others survived and thrived, such as Amazon.com Inc.,which has soared to unbelievable heights of over $1.6 trillion in market value.</p><p><blockquote>在郁金香繁荣和互联网繁荣期间，新的和相对未知的产品被推出，价格（郁金香的期货合约，互联网公司的股票价格）达到了惊人的水平，这是基于对不可持续的潜在需求的炒作。许多像Pets.com和Webvan这样的公司最终倒闭了，它们的商业理念走在了时代的前面，而其他公司则利用了市场的狂热，比如世通公司，它用历史上最大的会计欺诈之一欺骗了投资者。其他公司幸存下来并蓬勃发展，例如亚马逊公司，其市值已飙升至超过1.6万亿美元的令人难以置信的高度。</blockquote></p><p> As the global automotive industry goes through a similar seismic shift, investors are banking on a similar phenomenon, but with electric cars, and autonomous vehicles replacing gas-fueled combustion engines. This includes companies in China, where another crop of EV companies seek to unseat Tesla in the most populated country in the world. Currently, though, electric cars currently make up only approximately 2% of global auto sales. Estimates for the future vary broadly, from a low-end forecast of 10% to 20% of cars sold by 2030 to as much as two-thirds of the market in the same time frame.</p><p><blockquote>随着全球汽车行业经历类似的翻天覆地的转变，投资者也寄希望于类似的现象，但电动汽车和自动驾驶汽车将取代燃气内燃机。这包括中国的公司，在中国，另一批电动汽车公司试图在世界上人口最多的国家取代特斯拉。但目前，电动汽车仅占全球汽车销量的2%左右。对未来的预测差异很大，从到2030年占汽车销量10%至20%的低端预测到同一时间内占市场的三分之二。</blockquote></p><p> With those predicted changes on the horizon, combined with Tesla’s gigantic stock gains in 2020, including its addition to the S&amp;P 500,have led to some crazy bets on unproven or early-stage technologies once again.</p><p><blockquote>随着这些预测的变化即将到来，再加上特斯拉在2020年股价的巨大上涨，包括加入标普500，再次导致了一些对未经证实或早期技术的疯狂押注。</blockquote></p><p></p><p> In 2020, 15 private electric-vehicle companies were purchased by blank-check companies and are now publicly traded, according to Renaissance Capital, which tracks IPOS and has its own IPO ETF.But most of them don’t have a proven technology or business model, little or no revenue and no profits in sight.</p><p><blockquote>据跟踪IPO并拥有自己的IPO ETF的Renaissance Capital称，2020年，有15家私营电动汽车公司被空白支票公司收购，目前已公开交易。但他们中的大多数没有经过验证的技术或商业模式，收入很少或没有，也看不到利润。</blockquote></p><p> “While this is an area with enormous potential, many of these companies are completely unproven,&nbsp;and investors have very little to go on in terms of their ability to win customers or scale manufacturing,” said Kennedy of Renaissance Capital.</p><p><blockquote>Renaissance Capital的肯尼迪表示：“虽然这是一个潜力巨大的领域，但其中许多公司完全未经证实，投资者在赢得客户或扩大制造规模的能力方面几乎没有什么可做的。”</blockquote></p><p> The U.S. EV targets of the blank check companies, such as Nikola, Lucid and Fisker Inc.,an electric-car startup in Los Angeles, have not manufactured a single electric vehicle for sale, or collected any revenue yet. But their market caps have soared, and&nbsp;the companies are promising huge gains in revenue in a short time period.</p><p><blockquote>空白支票公司的美国电动汽车目标，如Nikola、Lucid和洛杉矶电动汽车初创公司Fisker Inc.，尚未生产一辆电动汽车进行销售，也尚未获得任何收入。但它们的市值飙升，并且这些公司承诺在短时间内收入将大幅增长。</blockquote></p><p> These stocks have not traded on profit or revenue, but on pure speculation. Fisker saw its shares soar nearly 40% after&nbsp;a memo of understanding with Foxconn Technology Group,the manufacturer of Apple Inc.’s&nbsp;iPhones, to jointly produce more than 250,000 electric SUVs, possibly at FoxConn’s new factory in Wisconsin. The deal is for Fisker’s second model, and manufacturing would begin at the end of 2023, as it adopts a sort of Uber-like approach to contracting out high costs.</p><p><blockquote>这些股票的交易不是基于利润或收入，而是纯粹的投机。在与苹果公司iPhone制造商富士康科技集团签署谅解备忘录，共同生产超过25万辆电动SUV（可能在富士康位于威斯康辛州的新工厂）后，菲斯克股价飙升近40%。这笔交易是针对菲斯克的第二款车型，生产将于2023年底开始，因为它采用了一种类似Uber的方法来外包高成本。</blockquote></p><p> The history of Fisker shows why investors should be concerned. The original company, Fisker Automotive, went bankrupt in 2013, and its assets were purchased by a Chinese auto-parts company that has retained some brand rights and started up Fisker Inc. while saying goodbye to the founder who gave the company its name. Fisker’s first product, an electric SUV called the Ocean, is expected to be launched in late 2022.</p><p><blockquote>菲斯克的历史表明了投资者应该担心的原因。原公司Fisker Automotive于2013年破产，其资产被一家中国汽车零部件公司收购，该公司保留了部分品牌权，并在告别以该公司命名的创始人的同时创办了Fisker Inc.。菲斯克的首款产品是一款名为Ocean的电动SUV，预计将于2022年底推出。</blockquote></p><p> These are the types of investments that are more appropriate for venture capitalists, who are used to betting on companies without revenue or profits or even a product. The list of companies targeted by SPACs looking at the EV market or the sustainable-energy arena also includes companies making electric batteries, charging-station makers, and other components for EVs and AVs, such as Lidar.</p><p><blockquote>这些是更适合风险投资家的投资类型，他们习惯于押注于没有收入或利润甚至没有产品的公司。着眼于电动汽车市场或可持续能源领域的SPAC瞄准的公司名单还包括制造电池、充电站制造商以及电动汽车和自动驾驶汽车其他组件（例如激光雷达）的公司。</blockquote></p><p> Velodyne Lidar Inc.,makes technology that is used as part of the vision system in autonomous vehicles, and is now in the middle of a post-SPAC war. David Hall, who founded the Morgan Hill, Calif.-based company, and his wife are sparring with the investors&nbsp;who purchased Velodyne Lidar,and took the company public via a SPAC late last year. But since then, the Halls and Velodyne’s acquirers had a falling out.</p><p><blockquote>威力登激光雷达公司生产的技术被用作自动驾驶汽车视觉系统的一部分，目前正处于特殊目的收购公司后的战争中。大卫·霍尔(David Hall)创立了这家总部位于加利福尼亚州摩根山的公司，他和他的妻子正在与购买Velodyne Lidar的投资者争论，并于去年年底通过SPAC将该公司上市。但从那以后，霍尔夫妇和威力登的收购者闹翻了。</blockquote></p><p> Last month, the company named a new chairman and chief marketing officer following an investigation into the conduct of David Hall and Marta Thoma Hall, who held those positions, respectively, and terminated Marta Hall’s employment.</p><p><blockquote>上个月，在对分别担任这些职位的David Hall和Marta Thoma Hall的行为进行调查后，该公司任命了新的董事长和首席营销官，并终止了Marta Hall的雇佣关系。</blockquote></p><p> “The investigation concluded that Mr.&nbsp;Hall and Ms.&nbsp;Hall each behaved inappropriately with regard to board and company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with company officers and directors,”Velodyne said in a statement&nbsp;and regulatory filing in late February.</p><p><blockquote>威力登在一份声明中表示：“调查得出的结论是，霍尔先生和霍尔女士在董事会和公司流程方面的行为都不恰当，并且在与公司高管和董事打交道时未能尊重、诚实、正直和坦率。”二月底的声明和监管文件。</blockquote></p><p> The two remain directors of the company that ousted them, as well as majority owners, with a 58.4% ownership of common stock in Velodyne.</p><p><blockquote>这两人仍然是驱逐他们的公司的董事，也是大股东，拥有威力登58.4%的普通股所有权。</blockquote></p><p> “To be completely clear: I chose to resign from the board because I had numerous concerns about the strategic direction and current leadership of Velodyne Lidar,” David Hall said in a statement last week. “I firmly believe that the board has fostered an anti-stockholder culture and that Velodyne Lidar’s corporate governance is broken. Perhaps most unsettling was the board’s decision to rubber-stamp an increased compensation package for Mr. [Anand] Gopalan despite the Company releasing weak Q4 2020 earnings and missing year-end forecasts.”</p><p><blockquote>David Hall在上周的一份声明中表示：“完全明确的是：我选择辞去董事会职务，因为我对Velodyne Lidar的战略方向和当前领导层有很多担忧。”“我坚信董事会营造了一种反股东文化，Velodyne Lidar的公司治理被打破。也许最令人不安的是董事会决定批准增加[Anand]Gopalan先生的薪酬方案，尽管该公司发布了疲软的2020年第四季度收益且未达到年终预测。”</blockquote></p><p> Gopalan is Veloydyne’s chief executive.</p><p><blockquote>戈帕兰是Veloydyne的首席执行官。</blockquote></p><p> A few weeks ago, Hall told The Wall Street Journal that the moves were a “well-played-out plan to hijack the corporation by the SPAC guys.” The Halls were not immediately available for an interview, their spokesman said.</p><p><blockquote>几周前，霍尔告诉《华尔街日报》，这些举措是“SPAC人员精心策划的劫持公司的计划”。他们的发言人说，大厅不能立即接受采访。</blockquote></p><p> The Velodyne saga is one that can often happen at startup companies that are not yet ready for prime time, when entrenched founders spar with their investors. One high-profile example that did made its way into the press in recent years was when VC investors&nbsp;pushed for the ouster of co-founder Travis Kalanick&nbsp;at Uber Technologies,long before the company went public.</p><p><blockquote>威力登传奇经常发生在尚未准备好迎接黄金时间的初创公司，当根深蒂固的创始人与投资者发生争执时。近年来，一个引人注目的例子确实出现在媒体上，那就是早在Uber Technologies上市之前，风险投资者就推动该公司联合创始人特拉维斯·卡兰尼克(Travis Kalanick)下台。</blockquote></p><p></p><p> So while SPACs may represent the democratization of venture-capital investing, where average retail investors have a more even playing field with Silicon Valley venture capitalists, getting in at the very early stages of young companies, it is also the democratizing the huge amounts of risk that are typically borne by professional investors. But unlike venture capitalists, who spread out their investments across a group of at least 10 various young or high-risk companies, knowing that most will fail as they hope to hit one big winner, individuals have a lot more to lose.</p><p><blockquote>因此，虽然SPAC可能代表着风险资本投资的民主化，普通散户投资者与硅谷风险资本家有一个更加公平的竞争环境，在年轻公司的早期阶段进入，但这也是通常由专业投资者承担的巨额风险的民主化。但与风险投资家不同的是，风险投资家将投资分散到至少10家不同的年轻或高风险公司，他们知道大多数公司都会失败，因为他们希望获得一个大赢家，而个人会损失更多。</blockquote></p><p> “The SPACs we are seeing now are focused on somewhat VC-like companies. Many of these companies don’t have revenue, they don’t have positive cash flow or earnings. It’s kind of like a VC in a liquid form, via a SPAC,” said Robert Davis, a partner and chief investment officer of Round Table Wealth Management. “Not all these SPACs are going to be great.”</p><p><blockquote>“我们现在看到的SPAC专注于有点类似VC的公司。其中许多公司没有收入，没有正现金流或收益。这有点像流动形式的VC，通过SPAC，”Round Table Wealth Management合伙人兼首席投资官罗伯特·戴维斯(Robert Davis)表示。“并非所有这些SPAC都会很棒。”</blockquote></p><p> There is a lot of risk in many of these deals, especially in the “pre-revenue” bunch.</p><p><blockquote>这些交易中有很多风险，尤其是在“收入前”交易中。</blockquote></p><p> “This is a little bit like in the Middle Ages, alchemists would take base metal and turn it into gold,” said Sandeep Dahiya, associate professor of entrepreneurship at&nbsp;Georgetown’s McDonough School of Business.“SPACs are like that: ‘Here, give us your money and we will try to make you rich.’ Let’s see how that plays out.”</p><p><blockquote>“这有点像中世纪，炼金术士会把贱金属变成黄金，”乔治敦大学麦克多诺商学院创业学副教授Sandeep Dahiya说，“SPAC就像这样：‘在这里，把你的钱给我们，我们会努力让你变得富有。’让我们看看结果如何。”</blockquote></p><p> For most investors, especially the average retail investor who did not get in early like the hedge funds, it will likely not end well in the short term. Anyone who is betting on long-term returns will need to choose wisely, and be wary of the SPAC flavor of the day.</p><p><blockquote>对于大多数投资者，尤其是没有像对冲基金那样提前入场的普通散户投资者来说，短期内可能不会有好结果。任何押注长期回报的人都需要做出明智的选择，并警惕当时的特殊目的收购公司风格。</blockquote></p><p></p>","source":"market_watch","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom<blockquote>特斯拉泡沫：对电动汽车的押注和SPAC的崛起导致了新版本的互联网繁荣</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom<blockquote>特斯拉泡沫：对电动汽车的押注和SPAC的崛起导致了新版本的互联网繁荣</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-03-16 11:24</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Investors take on the role of venture capitalists as they look for the next big thing, overvaluing young companies years before they could even begin to show the type of returns that would validate the valuation — sound familiar?</p><p><blockquote>投资者在寻找下一件大事时扮演了风险资本家的角色，在年轻公司开始展示验证估值的回报类型之前几年就高估了它们——听起来很熟悉吗？</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3f34bbf738000822f7553253aaaa88b3\" tg-width=\"1260\" tg-height=\"876\"><span>MARKETWATCH ILLUSTRATION/ISTOCKPHOTO</span></p><p><blockquote><p class=\"t-img-caption\"><span>MARKETWATCH插图/ISTOCKPHOTO</span></p></blockquote></p><p> In the 1990s, after seeing young tech stocks surge, investors wildly bet on young companies with little to no revenue on promises that a huge sea change was on the horizon for the global economy.</p><p><blockquote>20世纪90年代，在看到年轻的科技股飙升后，投资者疯狂押注于收入很少甚至没有收入的年轻公司，因为他们承诺全球经济即将发生巨大的变化。</blockquote></p><p> In the 2020s,something similar is happening: Young electric-vehicle and autonomous-vehicle stocks have been surging following the meteoric rise of Tesla Inc.&nbsp;and Chinese rivals like Nio Inc.,even though a fully electrified future for the automotive industry is years, or even decades, away.</p><p><blockquote>在2020年代，类似的事情正在发生：随着特斯拉公司和蔚来等中国竞争对手的迅速崛起，年轻的电动汽车和自动驾驶汽车股票一直在飙升，尽管汽车行业完全电气化的未来还需要数年甚至几十年的时间。</blockquote></p><p> This current unique bubble has been forming from a combination of a lot of cash looking for a home; the record number of special-purpose acquisition companies, or SPACs, going public; and investors looking for the next Tesla. The most crucial ingredient in that recipe is blank-check companies focused on buying electric-vehicle makers, which give both seasoned institutional and individual investors the chance to role-play as venture capitalists.</p><p><blockquote>这个当前独特的泡沫是由大量寻找家园的现金组合而成的；上市的特殊目的收购公司（SPAC）数量创历史新高；以及寻找下一个特斯拉的投资者。该配方中最关键的成分是专注于收购电动汽车制造商的空白支票公司，这为经验丰富的机构和个人投资者提供了扮演风险投资家角色的机会。</blockquote></p><p> “SPAC investors have been much more willing to speculate with the aim of buying ‘the next Tesla,'” said Matt Kennedy, senior IPO market strategist at Renaissance Capital, adding that the soaring returns in SPAC-land&nbsp;have attracted institutional buyers as well.</p><p><blockquote>Renaissance Capital高级IPO市场策略师Matt Kennedy表示：“SPAC投资者更愿意进行投机，目的是购买‘下一个特斯拉’。”他补充说，SPAC-land的飙升回报也吸引了机构买家。</blockquote></p><p> Some air may be leaking from the bubble, though. Tesla’s shares succumbed to the law of gravity in late February and early March, tumbling from their stratospheric heights and&nbsp;losing a stunning $277 billion in market value in a month. Those losses reversed, however, and as of Monday Tesla was worth basically the same as at the end of 2020 — eight times its valuation at the beginning of last year. Chinese rivals such as Nio, Li Auto Inc.&nbsp;and Xpeng Inc.&nbsp;were still down on the year, but had also bounced back from lows.</p><p><blockquote>不过，一些空气可能会从气泡中泄漏出来。特斯拉的股价在2月底和3月初屈服于万有引力定律，从平流层的高度暴跌，一个月内市值损失了惊人的2770亿美元。然而，这些损失得到了扭转，截至周一，特斯拉的市值与2020年底基本持平——是去年初估值的八倍。蔚来、理想汽车和小鹏汽车等中国竞争对手今年仍处于下滑状态，但也已从低点反弹。</blockquote></p><p> SPACs have continued to show rampant speculation throughout, as investors looked for the types of gains those stocks enjoyed in 2020.</p><p><blockquote>SPAC自始至终继续表现出猖獗的投机行为，因为投资者正在寻找这些股票在2020年享有的收益类型。</blockquote></p><p> “I think the electric-vehicle space is something where investors are chasing past returns,” said University of Florida Professor Jay Ritter, who has both invested in SPACs and shorted Tesla shares of late. “As with all bubbles, it’s hard to know where the turning point is going to be.”</p><p><blockquote>佛罗里达大学教授Jay Ritter表示：“我认为电动汽车领域是投资者追逐过去回报的领域。”他最近投资了SPAC并做空了特斯拉股票。“与所有泡沫一样，很难知道转折点会在哪里。”</blockquote></p><p> <b>Two cautionary examples of EV hype</b></p><p><blockquote><b>电动汽车炒作的两个警示例子</b></blockquote></p><p> Two EV companies are good examples of the caution needed by investors and the problems that exist in these early-stage ventures. Nikola Corp.&nbsp;was one of the early EV makers to get swept up and purchased by a SPAC, which then attracted an army of investors who drove prices sky high. But a short seller, Hindenburg Research, helped deflate that bubble.In September, Hindenburg published a detailed report, calling Nikola an “intricate fraud”&nbsp;and pointed out the company staged a deceiving video of a truck running on its hydrogen fuel-cell technology, when it was actually filmed slowly rolling down a hill, not running on its own power.</p><p><blockquote>两家电动汽车公司很好地说明了投资者需要谨慎以及这些早期企业存在的问题。Nikola Corp.是最早被SPAC收购的电动汽车制造商之一，随后吸引了大批投资者，将价格推高。但卖空者兴登堡研究公司帮助缩小了泡沫。9月，兴登堡发表了一份详细报告，称尼古拉是一个“错综复杂的欺诈行为”，并指出该公司制作了一段欺骗性视频，视频中一辆卡车使用其氢燃料电池技术行驶，而实际上它被拍摄到慢慢滚下山坡，而不是行驶靠自己的力量。</blockquote></p><p> Nikola, which surged to a peak of around $66 last July, before Hindenburg’s report, closed at $15.85 Tuesday.</p><p><blockquote>去年7月，在兴登堡报告发布之前，尼古拉股价飙升至66美元左右的峰值，周二收于15.85美元。</blockquote></p><p> While Nikola could be in the vaporware camp, Lucid Motors Inc., is another story. It is seen as a legitimate potential Tesla rival, based in Newark, Calif., not far from Tesla’s Silicon Valley manufacturing site in Fremont. Lucid was founded by Peter Rawlinson, the chief engineer of the Tesla Model S, and is developing an electric luxury sedan that is expected to launch this year, as well as an electric SUV.</p><p><blockquote>虽然Nikola可能属于vaporware阵营，但Lucid Motors Inc.则是另一回事。它被视为特斯拉合法的潜在竞争对手，总部位于加州纽瓦克，距离特斯拉位于硅谷的生产基地Fremont不远。Lucid由特斯拉Model S的首席工程师Peter Rawlinson创立，正在开发一款预计今年推出的电动豪华轿车，以及一款电动SUV。</blockquote></p><p> The mania around SPACs struck Lucid as well. After news leaked in January that Lucid was about to be acquired by a SPAC called Churchill Capital Group,shares in the SPAC surged to unreasonable levels as speculators jumped in. When the merger was actually announced in late February, it included an investment from Wall Street that valued the company far less than the public had,and its shares plunged.</p><p><blockquote>围绕SPAC的狂热也让Lucid感到震惊。在1月份Lucid即将被一家名为Churchill Capital Group的SPAC收购的消息泄露后，随着投机者的涌入，SPAC的股价飙升至不合理的水平。当合并在二月底真正宣布时，其中包括华尔街的一项投资，该投资对该公司的估值远低于公众，其股价暴跌。</blockquote></p><p> There could be plenty more pain for speculators looking to get in on EV companies. In January alone, according to Dealogic, 90 SPACs filed to go public. While only a handful of those companies actually said they plan to focus on electric vehicles or batteries, many did not identify a target industry or market for acquisitions but did mention a sustainable focus — for example, Switchback II&nbsp;of Dallas, which raised $275 million in its January IPO, said it intends to focus on companies in the “broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.”</p><p><blockquote>对于希望进入电动汽车公司的投机者来说，可能会面临更多痛苦。根据Dealogic的数据，仅在1月份，就有90家SPAC申请上市。虽然其中只有少数公司实际上表示计划专注于电动汽车或电池，但许多公司没有确定收购的目标行业或市场，但确实提到了可持续重点——例如，达拉斯的Switchback II在一月份的首次公开募股中筹集了2.75亿美元，表示打算专注于“广泛的能源转型或可持续发展领域的公司，目标是需要创新解决方案脱碳以实现关键减排目标的行业”。</blockquote></p><p></p><p> “Never underestimate the market’s ability to find products for people who have money. The market has more money than product right now. The shelf of near-ready IPOs was pretty bare, and laid more barren with COVID-19,” said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in an interview late last year. “So all of a sudden, there is good money looking for public companies. It’s incredible how fast this submarket has reformed around SPACS.”</p><p><blockquote>“永远不要低估市场为有钱人寻找产品的能力。现在市场上的钱比产品还多。几乎准备好的IPO货架上空空如也，新冠肺炎让它们变得更加贫瘠，”斯科特·加洛韦（Scott Galloway）是纽约大学斯特恩商学院（Stern School of Business）营销学教授，去年年底接受采访时表示。“所以突然之间，有很多资金在寻找上市公司。这个子市场围绕SPAC的改革速度之快令人难以置信。”</blockquote></p><p> Typical IPO buyers like Fidelity and Franklin Templeton are making large investments in SPACs through private investment in public equities, or PIPEs, the type of investment that pumped into Lucid as its SPAC traded much higher.</p><p><blockquote>富达(Fidelity)和富兰克林邓普顿(Franklin Templeton)等典型IPO买家正在通过对公共股票(PIPE)的私人投资对SPAC进行大量投资，这种投资类型在Lucid的SPAC交易大幅上涨时注入了Lucid。</blockquote></p><p> SPACs represent an unusual investment opportunity, because they take place in two phases. In the first phase, the blank-check company raises money in its IPO, the pre-acquisition phase, which can offer investors a good return. They also offer investors the ability to exit, with original funds intact, if a proposed acquisition is not to the liking of the investors.</p><p><blockquote>SPAC代表了一个不同寻常的投资机会，因为它们分两个阶段进行。在第一阶段，空白支票公司在首次公开募股（收购前阶段）筹集资金，这可以为投资者提供良好的回报。如果拟议的收购不符合投资者的喜好，它们还为投资者提供了退出的能力，原始资金完好无损。</blockquote></p><p> So far investors have had an excellent run in SPACs in general, especially hedge funds, or the SPAC mafia, Ritter said. According to Dealogic, a total of 262 blank-check companies went public in U.S. markets in 2020, with a current average performance of 21.3% for those 2020 deals. So far for 2021 IPO SPACs, though, the current average performance is 1.95%.</p><p><blockquote>里特表示，到目前为止，投资者总体上在SPAC方面表现出色，尤其是对冲基金或SPAC黑手党。根据Dealogic的数据，2020年共有262家空白支票公司在美国市场上市，目前这些2020年交易的平均表现为21.3%。不过，到目前为止，2021年IPO SPAC的平均表现为1.95%。</blockquote></p><p> Ritter was so impressed with the returns that he invested in a few SPACs himself in the aftermarket, after seeing his funds in an investment account earn barely anything in interest.</p><p><blockquote>里特对回报印象深刻，在看到自己投资账户中的资金几乎没有赚取任何利息后，他自己在售后市场投资了一些SPAC。</blockquote></p><p> “There is investor enthusiasm. Even though supply has been exploding, investor demand has been growing even faster,” Ritter said, adding that most of the electric-vehicle companies have chosen to go public via a SPAC and not the standard, more costly, IPO process.</p><p><blockquote>里特表示：“投资者热情高涨。尽管供应呈爆炸式增长，但投资者需求增长更快。”他补充说，大多数电动汽车公司都选择通过SPAC上市，而不是标准的、成本更高的IPO流程。</blockquote></p><p> SPACs are typically a better investment in the pre-acquisition phase, which can go as long as two years, the time limit set for companies to make an acquisition. Only early investors, though, are often able to receive the biggest security for their investment in SPACs. They usually receive a warrant with each share of the IPO, that entitles them to buy a share at a prearranged price. Public investors in the aftermarket deal don’t get this option,which is why hedge funds have zeroed in on SPACs as a sure thing.</p><p><blockquote>SPAC通常是收购前阶段更好的投资，收购前阶段可能长达两年，这是公司进行收购的时间限制。然而，通常只有早期投资者才能从SPAC的投资中获得最大的保障。他们通常会收到每股IPO股票的认股权证，使他们有权以预先安排的价格购买股票。售后交易的公共投资者没有这个选择，这就是为什么对冲基金肯定会将SPAC作为一件事。</blockquote></p><p> Ritter noted that even though he drives a Tesla himself, he has been short the stock.</p><p><blockquote>里特指出，尽管他自己驾驶特斯拉，但他一直做空该股。</blockquote></p><p> “When it got added to the S&amp;P 500, I shorted more shares. So far it’s been a wealth-losing activity for me,” Ritter said, adding that he also believes many investors are hoping for a repeat performance of Tesla. “Investors tend to chase past returns. Fifteen years ago it was investing in real estate, which ended badly; 21 years ago the internet bubble was about to peak.”</p><p><blockquote>里特表示：“当它被添加到标普500时，我做空了更多股票。到目前为止，这对我来说是一项财富损失活动。”他补充说，他还相信许多投资者都希望特斯拉的表现能够重演。“投资者倾向于追逐过去的回报。15年前是投资房地产，结局很糟糕；21年前互联网泡沫即将见顶。”</blockquote></p><p> <b>EV SPACs as the new dot-com bubble</b></p><p><blockquote><b>电动汽车SPAC成为新的互联网泡沫</b></blockquote></p><p> Just as the dot-com boom and bust of 1999-2000 was often compared with the tulip mania in the 17th century of the then-Dutch Republic, it is worth asking the same question about some of the different bubbles in the market today, from the GameStop Corp.&nbsp;insanity to the electric-vehicle hype.</p><p><blockquote>正如人们经常将1999-2000年的互联网繁荣和萧条与17世纪当时荷兰共和国的郁金香狂热进行比较一样，对于当今市场上的一些不同泡沫，也值得提出同样的问题，从游戏驿站公司的疯狂到电动汽车的炒作。</blockquote></p><p> During both the tulip boom and the dot-com boom, new and relatively unknown products were introduced, and prices (in futures contracts for tulips, stock prices for dot-com companies) reached staggering levels based on hype for potential demand that was not sustainable. Many companies like Pets.com and Webvan ultimately collapsed, with business ideas that were ahead of their time, while others took advantage of the market mania, such as WorldCom, which deceived investors with one of the biggest accounting frauds in history. Others survived and thrived, such as Amazon.com Inc.,which has soared to unbelievable heights of over $1.6 trillion in market value.</p><p><blockquote>在郁金香繁荣和互联网繁荣期间，新的和相对未知的产品被推出，价格（郁金香的期货合约，互联网公司的股票价格）达到了惊人的水平，这是基于对不可持续的潜在需求的炒作。许多像Pets.com和Webvan这样的公司最终倒闭了，它们的商业理念走在了时代的前面，而其他公司则利用了市场的狂热，比如世通公司，它用历史上最大的会计欺诈之一欺骗了投资者。其他公司幸存下来并蓬勃发展，例如亚马逊公司，其市值已飙升至超过1.6万亿美元的令人难以置信的高度。</blockquote></p><p> As the global automotive industry goes through a similar seismic shift, investors are banking on a similar phenomenon, but with electric cars, and autonomous vehicles replacing gas-fueled combustion engines. This includes companies in China, where another crop of EV companies seek to unseat Tesla in the most populated country in the world. Currently, though, electric cars currently make up only approximately 2% of global auto sales. Estimates for the future vary broadly, from a low-end forecast of 10% to 20% of cars sold by 2030 to as much as two-thirds of the market in the same time frame.</p><p><blockquote>随着全球汽车行业经历类似的翻天覆地的转变，投资者也寄希望于类似的现象，但电动汽车和自动驾驶汽车将取代燃气内燃机。这包括中国的公司，在中国，另一批电动汽车公司试图在世界上人口最多的国家取代特斯拉。但目前，电动汽车仅占全球汽车销量的2%左右。对未来的预测差异很大，从到2030年占汽车销量10%至20%的低端预测到同一时间内占市场的三分之二。</blockquote></p><p> With those predicted changes on the horizon, combined with Tesla’s gigantic stock gains in 2020, including its addition to the S&amp;P 500,have led to some crazy bets on unproven or early-stage technologies once again.</p><p><blockquote>随着这些预测的变化即将到来，再加上特斯拉在2020年股价的巨大上涨，包括加入标普500，再次导致了一些对未经证实或早期技术的疯狂押注。</blockquote></p><p></p><p> In 2020, 15 private electric-vehicle companies were purchased by blank-check companies and are now publicly traded, according to Renaissance Capital, which tracks IPOS and has its own IPO ETF.But most of them don’t have a proven technology or business model, little or no revenue and no profits in sight.</p><p><blockquote>据跟踪IPO并拥有自己的IPO ETF的Renaissance Capital称，2020年，有15家私营电动汽车公司被空白支票公司收购，目前已公开交易。但他们中的大多数没有经过验证的技术或商业模式，收入很少或没有，也看不到利润。</blockquote></p><p> “While this is an area with enormous potential, many of these companies are completely unproven,&nbsp;and investors have very little to go on in terms of their ability to win customers or scale manufacturing,” said Kennedy of Renaissance Capital.</p><p><blockquote>Renaissance Capital的肯尼迪表示：“虽然这是一个潜力巨大的领域，但其中许多公司完全未经证实，投资者在赢得客户或扩大制造规模的能力方面几乎没有什么可做的。”</blockquote></p><p> The U.S. EV targets of the blank check companies, such as Nikola, Lucid and Fisker Inc.,an electric-car startup in Los Angeles, have not manufactured a single electric vehicle for sale, or collected any revenue yet. But their market caps have soared, and&nbsp;the companies are promising huge gains in revenue in a short time period.</p><p><blockquote>空白支票公司的美国电动汽车目标，如Nikola、Lucid和洛杉矶电动汽车初创公司Fisker Inc.，尚未生产一辆电动汽车进行销售，也尚未获得任何收入。但它们的市值飙升，并且这些公司承诺在短时间内收入将大幅增长。</blockquote></p><p> These stocks have not traded on profit or revenue, but on pure speculation. Fisker saw its shares soar nearly 40% after&nbsp;a memo of understanding with Foxconn Technology Group,the manufacturer of Apple Inc.’s&nbsp;iPhones, to jointly produce more than 250,000 electric SUVs, possibly at FoxConn’s new factory in Wisconsin. The deal is for Fisker’s second model, and manufacturing would begin at the end of 2023, as it adopts a sort of Uber-like approach to contracting out high costs.</p><p><blockquote>这些股票的交易不是基于利润或收入，而是纯粹的投机。在与苹果公司iPhone制造商富士康科技集团签署谅解备忘录，共同生产超过25万辆电动SUV（可能在富士康位于威斯康辛州的新工厂）后，菲斯克股价飙升近40%。这笔交易是针对菲斯克的第二款车型，生产将于2023年底开始，因为它采用了一种类似Uber的方法来外包高成本。</blockquote></p><p> The history of Fisker shows why investors should be concerned. The original company, Fisker Automotive, went bankrupt in 2013, and its assets were purchased by a Chinese auto-parts company that has retained some brand rights and started up Fisker Inc. while saying goodbye to the founder who gave the company its name. Fisker’s first product, an electric SUV called the Ocean, is expected to be launched in late 2022.</p><p><blockquote>菲斯克的历史表明了投资者应该担心的原因。原公司Fisker Automotive于2013年破产，其资产被一家中国汽车零部件公司收购，该公司保留了部分品牌权，并在告别以该公司命名的创始人的同时创办了Fisker Inc.。菲斯克的首款产品是一款名为Ocean的电动SUV，预计将于2022年底推出。</blockquote></p><p> These are the types of investments that are more appropriate for venture capitalists, who are used to betting on companies without revenue or profits or even a product. The list of companies targeted by SPACs looking at the EV market or the sustainable-energy arena also includes companies making electric batteries, charging-station makers, and other components for EVs and AVs, such as Lidar.</p><p><blockquote>这些是更适合风险投资家的投资类型，他们习惯于押注于没有收入或利润甚至没有产品的公司。着眼于电动汽车市场或可持续能源领域的SPAC瞄准的公司名单还包括制造电池、充电站制造商以及电动汽车和自动驾驶汽车其他组件（例如激光雷达）的公司。</blockquote></p><p> Velodyne Lidar Inc.,makes technology that is used as part of the vision system in autonomous vehicles, and is now in the middle of a post-SPAC war. David Hall, who founded the Morgan Hill, Calif.-based company, and his wife are sparring with the investors&nbsp;who purchased Velodyne Lidar,and took the company public via a SPAC late last year. But since then, the Halls and Velodyne’s acquirers had a falling out.</p><p><blockquote>威力登激光雷达公司生产的技术被用作自动驾驶汽车视觉系统的一部分，目前正处于特殊目的收购公司后的战争中。大卫·霍尔(David Hall)创立了这家总部位于加利福尼亚州摩根山的公司，他和他的妻子正在与购买Velodyne Lidar的投资者争论，并于去年年底通过SPAC将该公司上市。但从那以后，霍尔夫妇和威力登的收购者闹翻了。</blockquote></p><p> Last month, the company named a new chairman and chief marketing officer following an investigation into the conduct of David Hall and Marta Thoma Hall, who held those positions, respectively, and terminated Marta Hall’s employment.</p><p><blockquote>上个月，在对分别担任这些职位的David Hall和Marta Thoma Hall的行为进行调查后，该公司任命了新的董事长和首席营销官，并终止了Marta Hall的雇佣关系。</blockquote></p><p> “The investigation concluded that Mr.&nbsp;Hall and Ms.&nbsp;Hall each behaved inappropriately with regard to board and company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with company officers and directors,”Velodyne said in a statement&nbsp;and regulatory filing in late February.</p><p><blockquote>威力登在一份声明中表示：“调查得出的结论是，霍尔先生和霍尔女士在董事会和公司流程方面的行为都不恰当，并且在与公司高管和董事打交道时未能尊重、诚实、正直和坦率。”二月底的声明和监管文件。</blockquote></p><p> The two remain directors of the company that ousted them, as well as majority owners, with a 58.4% ownership of common stock in Velodyne.</p><p><blockquote>这两人仍然是驱逐他们的公司的董事，也是大股东，拥有威力登58.4%的普通股所有权。</blockquote></p><p> “To be completely clear: I chose to resign from the board because I had numerous concerns about the strategic direction and current leadership of Velodyne Lidar,” David Hall said in a statement last week. “I firmly believe that the board has fostered an anti-stockholder culture and that Velodyne Lidar’s corporate governance is broken. Perhaps most unsettling was the board’s decision to rubber-stamp an increased compensation package for Mr. [Anand] Gopalan despite the Company releasing weak Q4 2020 earnings and missing year-end forecasts.”</p><p><blockquote>David Hall在上周的一份声明中表示：“完全明确的是：我选择辞去董事会职务，因为我对Velodyne Lidar的战略方向和当前领导层有很多担忧。”“我坚信董事会营造了一种反股东文化，Velodyne Lidar的公司治理被打破。也许最令人不安的是董事会决定批准增加[Anand]Gopalan先生的薪酬方案，尽管该公司发布了疲软的2020年第四季度收益且未达到年终预测。”</blockquote></p><p> Gopalan is Veloydyne’s chief executive.</p><p><blockquote>戈帕兰是Veloydyne的首席执行官。</blockquote></p><p> A few weeks ago, Hall told The Wall Street Journal that the moves were a “well-played-out plan to hijack the corporation by the SPAC guys.” The Halls were not immediately available for an interview, their spokesman said.</p><p><blockquote>几周前，霍尔告诉《华尔街日报》，这些举措是“SPAC人员精心策划的劫持公司的计划”。他们的发言人说，大厅不能立即接受采访。</blockquote></p><p> The Velodyne saga is one that can often happen at startup companies that are not yet ready for prime time, when entrenched founders spar with their investors. One high-profile example that did made its way into the press in recent years was when VC investors&nbsp;pushed for the ouster of co-founder Travis Kalanick&nbsp;at Uber Technologies,long before the company went public.</p><p><blockquote>威力登传奇经常发生在尚未准备好迎接黄金时间的初创公司，当根深蒂固的创始人与投资者发生争执时。近年来，一个引人注目的例子确实出现在媒体上，那就是早在Uber Technologies上市之前，风险投资者就推动该公司联合创始人特拉维斯·卡兰尼克(Travis Kalanick)下台。</blockquote></p><p></p><p> So while SPACs may represent the democratization of venture-capital investing, where average retail investors have a more even playing field with Silicon Valley venture capitalists, getting in at the very early stages of young companies, it is also the democratizing the huge amounts of risk that are typically borne by professional investors. But unlike venture capitalists, who spread out their investments across a group of at least 10 various young or high-risk companies, knowing that most will fail as they hope to hit one big winner, individuals have a lot more to lose.</p><p><blockquote>因此，虽然SPAC可能代表着风险资本投资的民主化，普通散户投资者与硅谷风险资本家有一个更加公平的竞争环境，在年轻公司的早期阶段进入，但这也是通常由专业投资者承担的巨额风险的民主化。但与风险投资家不同的是，风险投资家将投资分散到至少10家不同的年轻或高风险公司，他们知道大多数公司都会失败，因为他们希望获得一个大赢家，而个人会损失更多。</blockquote></p><p> “The SPACs we are seeing now are focused on somewhat VC-like companies. Many of these companies don’t have revenue, they don’t have positive cash flow or earnings. It’s kind of like a VC in a liquid form, via a SPAC,” said Robert Davis, a partner and chief investment officer of Round Table Wealth Management. “Not all these SPACs are going to be great.”</p><p><blockquote>“我们现在看到的SPAC专注于有点类似VC的公司。其中许多公司没有收入，没有正现金流或收益。这有点像流动形式的VC，通过SPAC，”Round Table Wealth Management合伙人兼首席投资官罗伯特·戴维斯(Robert Davis)表示。“并非所有这些SPAC都会很棒。”</blockquote></p><p> There is a lot of risk in many of these deals, especially in the “pre-revenue” bunch.</p><p><blockquote>这些交易中有很多风险，尤其是在“收入前”交易中。</blockquote></p><p> “This is a little bit like in the Middle Ages, alchemists would take base metal and turn it into gold,” said Sandeep Dahiya, associate professor of entrepreneurship at&nbsp;Georgetown’s McDonough School of Business.“SPACs are like that: ‘Here, give us your money and we will try to make you rich.’ Let’s see how that plays out.”</p><p><blockquote>“这有点像中世纪，炼金术士会把贱金属变成黄金，”乔治敦大学麦克多诺商学院创业学副教授Sandeep Dahiya说，“SPAC就像这样：‘在这里，把你的钱给我们，我们会努力让你变得富有。’让我们看看结果如何。”</blockquote></p><p> For most investors, especially the average retail investor who did not get in early like the hedge funds, it will likely not end well in the short term. Anyone who is betting on long-term returns will need to choose wisely, and be wary of the SPAC flavor of the day.</p><p><blockquote>对于大多数投资者，尤其是没有像对冲基金那样提前入场的普通散户投资者来说，短期内可能不会有好结果。任何押注长期回报的人都需要做出明智的选择，并警惕当时的特殊目的收购公司风格。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/the-tesla-bubble-bets-on-electric-cars-and-the-rise-of-spacs-have-led-to-a-new-version-of-the-dot-com-boom-11615836310?mod=mw_latestnews&mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车","LRCX":"拉姆研究","TSLA":"特斯拉","XPEV":"小鹏汽车","AMAT":"应用材料","NIO":"蔚来"},"source_url":"https://www.marketwatch.com/story/the-tesla-bubble-bets-on-electric-cars-and-the-rise-of-spacs-have-led-to-a-new-version-of-the-dot-com-boom-11615836310?mod=mw_latestnews&mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1104334279","content_text":"Investors take on the role of venture capitalists as they look for the next big thing, overvaluing young companies years before they could even begin to show the type of returns that would validate the valuation — sound familiar?\nMARKETWATCH ILLUSTRATION/ISTOCKPHOTO\nIn the 1990s, after seeing young tech stocks surge, investors wildly bet on young companies with little to no revenue on promises that a huge sea change was on the horizon for the global economy.\nIn the 2020s,something similar is happening: Young electric-vehicle and autonomous-vehicle stocks have been surging following the meteoric rise of Tesla Inc. and Chinese rivals like Nio Inc.,even though a fully electrified future for the automotive industry is years, or even decades, away.\nThis current unique bubble has been forming from a combination of a lot of cash looking for a home; the record number of special-purpose acquisition companies, or SPACs, going public; and investors looking for the next Tesla. The most crucial ingredient in that recipe is blank-check companies focused on buying electric-vehicle makers, which give both seasoned institutional and individual investors the chance to role-play as venture capitalists.\n“SPAC investors have been much more willing to speculate with the aim of buying ‘the next Tesla,'” said Matt Kennedy, senior IPO market strategist at Renaissance Capital, adding that the soaring returns in SPAC-land have attracted institutional buyers as well.\nSome air may be leaking from the bubble, though. Tesla’s shares succumbed to the law of gravity in late February and early March, tumbling from their stratospheric heights and losing a stunning $277 billion in market value in a month. Those losses reversed, however, and as of Monday Tesla was worth basically the same as at the end of 2020 — eight times its valuation at the beginning of last year. Chinese rivals such as Nio, Li Auto Inc. and Xpeng Inc. were still down on the year, but had also bounced back from lows.\nSPACs have continued to show rampant speculation throughout, as investors looked for the types of gains those stocks enjoyed in 2020.\n“I think the electric-vehicle space is something where investors are chasing past returns,” said University of Florida Professor Jay Ritter, who has both invested in SPACs and shorted Tesla shares of late. “As with all bubbles, it’s hard to know where the turning point is going to be.”\nTwo cautionary examples of EV hype\nTwo EV companies are good examples of the caution needed by investors and the problems that exist in these early-stage ventures. Nikola Corp. was one of the early EV makers to get swept up and purchased by a SPAC, which then attracted an army of investors who drove prices sky high. But a short seller, Hindenburg Research, helped deflate that bubble.In September, Hindenburg published a detailed report, calling Nikola an “intricate fraud” and pointed out the company staged a deceiving video of a truck running on its hydrogen fuel-cell technology, when it was actually filmed slowly rolling down a hill, not running on its own power.\nNikola, which surged to a peak of around $66 last July, before Hindenburg’s report, closed at $15.85 Tuesday.\nWhile Nikola could be in the vaporware camp, Lucid Motors Inc., is another story. It is seen as a legitimate potential Tesla rival, based in Newark, Calif., not far from Tesla’s Silicon Valley manufacturing site in Fremont. Lucid was founded by Peter Rawlinson, the chief engineer of the Tesla Model S, and is developing an electric luxury sedan that is expected to launch this year, as well as an electric SUV.\nThe mania around SPACs struck Lucid as well. After news leaked in January that Lucid was about to be acquired by a SPAC called Churchill Capital Group,shares in the SPAC surged to unreasonable levels as speculators jumped in. When the merger was actually announced in late February, it included an investment from Wall Street that valued the company far less than the public had,and its shares plunged.\nThere could be plenty more pain for speculators looking to get in on EV companies. In January alone, according to Dealogic, 90 SPACs filed to go public. While only a handful of those companies actually said they plan to focus on electric vehicles or batteries, many did not identify a target industry or market for acquisitions but did mention a sustainable focus — for example, Switchback II of Dallas, which raised $275 million in its January IPO, said it intends to focus on companies in the “broad energy transition or sustainability arena targeting industries that require innovative solutions to decarbonize in order to meet critical emission reduction objectives.”\n“Never underestimate the market’s ability to find products for people who have money. The market has more money than product right now. The shelf of near-ready IPOs was pretty bare, and laid more barren with COVID-19,” said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in an interview late last year. “So all of a sudden, there is good money looking for public companies. It’s incredible how fast this submarket has reformed around SPACS.”\nTypical IPO buyers like Fidelity and Franklin Templeton are making large investments in SPACs through private investment in public equities, or PIPEs, the type of investment that pumped into Lucid as its SPAC traded much higher.\nSPACs represent an unusual investment opportunity, because they take place in two phases. In the first phase, the blank-check company raises money in its IPO, the pre-acquisition phase, which can offer investors a good return. They also offer investors the ability to exit, with original funds intact, if a proposed acquisition is not to the liking of the investors.\nSo far investors have had an excellent run in SPACs in general, especially hedge funds, or the SPAC mafia, Ritter said. According to Dealogic, a total of 262 blank-check companies went public in U.S. markets in 2020, with a current average performance of 21.3% for those 2020 deals. So far for 2021 IPO SPACs, though, the current average performance is 1.95%.\nRitter was so impressed with the returns that he invested in a few SPACs himself in the aftermarket, after seeing his funds in an investment account earn barely anything in interest.\n“There is investor enthusiasm. Even though supply has been exploding, investor demand has been growing even faster,” Ritter said, adding that most of the electric-vehicle companies have chosen to go public via a SPAC and not the standard, more costly, IPO process.\nSPACs are typically a better investment in the pre-acquisition phase, which can go as long as two years, the time limit set for companies to make an acquisition. Only early investors, though, are often able to receive the biggest security for their investment in SPACs. They usually receive a warrant with each share of the IPO, that entitles them to buy a share at a prearranged price. Public investors in the aftermarket deal don’t get this option,which is why hedge funds have zeroed in on SPACs as a sure thing.\nRitter noted that even though he drives a Tesla himself, he has been short the stock.\n“When it got added to the S&P 500, I shorted more shares. So far it’s been a wealth-losing activity for me,” Ritter said, adding that he also believes many investors are hoping for a repeat performance of Tesla. “Investors tend to chase past returns. Fifteen years ago it was investing in real estate, which ended badly; 21 years ago the internet bubble was about to peak.”\nEV SPACs as the new dot-com bubble\nJust as the dot-com boom and bust of 1999-2000 was often compared with the tulip mania in the 17th century of the then-Dutch Republic, it is worth asking the same question about some of the different bubbles in the market today, from the GameStop Corp. insanity to the electric-vehicle hype.\nDuring both the tulip boom and the dot-com boom, new and relatively unknown products were introduced, and prices (in futures contracts for tulips, stock prices for dot-com companies) reached staggering levels based on hype for potential demand that was not sustainable. Many companies like Pets.com and Webvan ultimately collapsed, with business ideas that were ahead of their time, while others took advantage of the market mania, such as WorldCom, which deceived investors with one of the biggest accounting frauds in history. Others survived and thrived, such as Amazon.com Inc.,which has soared to unbelievable heights of over $1.6 trillion in market value.\nAs the global automotive industry goes through a similar seismic shift, investors are banking on a similar phenomenon, but with electric cars, and autonomous vehicles replacing gas-fueled combustion engines. This includes companies in China, where another crop of EV companies seek to unseat Tesla in the most populated country in the world. Currently, though, electric cars currently make up only approximately 2% of global auto sales. Estimates for the future vary broadly, from a low-end forecast of 10% to 20% of cars sold by 2030 to as much as two-thirds of the market in the same time frame.\nWith those predicted changes on the horizon, combined with Tesla’s gigantic stock gains in 2020, including its addition to the S&P 500,have led to some crazy bets on unproven or early-stage technologies once again.\nIn 2020, 15 private electric-vehicle companies were purchased by blank-check companies and are now publicly traded, according to Renaissance Capital, which tracks IPOS and has its own IPO ETF.But most of them don’t have a proven technology or business model, little or no revenue and no profits in sight.\n“While this is an area with enormous potential, many of these companies are completely unproven, and investors have very little to go on in terms of their ability to win customers or scale manufacturing,” said Kennedy of Renaissance Capital.\nThe U.S. EV targets of the blank check companies, such as Nikola, Lucid and Fisker Inc.,an electric-car startup in Los Angeles, have not manufactured a single electric vehicle for sale, or collected any revenue yet. But their market caps have soared, and the companies are promising huge gains in revenue in a short time period.\nThese stocks have not traded on profit or revenue, but on pure speculation. Fisker saw its shares soar nearly 40% after a memo of understanding with Foxconn Technology Group,the manufacturer of Apple Inc.’s iPhones, to jointly produce more than 250,000 electric SUVs, possibly at FoxConn’s new factory in Wisconsin. The deal is for Fisker’s second model, and manufacturing would begin at the end of 2023, as it adopts a sort of Uber-like approach to contracting out high costs.\nThe history of Fisker shows why investors should be concerned. The original company, Fisker Automotive, went bankrupt in 2013, and its assets were purchased by a Chinese auto-parts company that has retained some brand rights and started up Fisker Inc. while saying goodbye to the founder who gave the company its name. Fisker’s first product, an electric SUV called the Ocean, is expected to be launched in late 2022.\nThese are the types of investments that are more appropriate for venture capitalists, who are used to betting on companies without revenue or profits or even a product. The list of companies targeted by SPACs looking at the EV market or the sustainable-energy arena also includes companies making electric batteries, charging-station makers, and other components for EVs and AVs, such as Lidar.\nVelodyne Lidar Inc.,makes technology that is used as part of the vision system in autonomous vehicles, and is now in the middle of a post-SPAC war. David Hall, who founded the Morgan Hill, Calif.-based company, and his wife are sparring with the investors who purchased Velodyne Lidar,and took the company public via a SPAC late last year. But since then, the Halls and Velodyne’s acquirers had a falling out.\nLast month, the company named a new chairman and chief marketing officer following an investigation into the conduct of David Hall and Marta Thoma Hall, who held those positions, respectively, and terminated Marta Hall’s employment.\n“The investigation concluded that Mr. Hall and Ms. Hall each behaved inappropriately with regard to board and company processes, and failed to operate with respect, honesty, integrity, and candor in their dealings with company officers and directors,”Velodyne said in a statement and regulatory filing in late February.\nThe two remain directors of the company that ousted them, as well as majority owners, with a 58.4% ownership of common stock in Velodyne.\n“To be completely clear: I chose to resign from the board because I had numerous concerns about the strategic direction and current leadership of Velodyne Lidar,” David Hall said in a statement last week. “I firmly believe that the board has fostered an anti-stockholder culture and that Velodyne Lidar’s corporate governance is broken. Perhaps most unsettling was the board’s decision to rubber-stamp an increased compensation package for Mr. [Anand] Gopalan despite the Company releasing weak Q4 2020 earnings and missing year-end forecasts.”\nGopalan is Veloydyne’s chief executive.\nA few weeks ago, Hall told The Wall Street Journal that the moves were a “well-played-out plan to hijack the corporation by the SPAC guys.” The Halls were not immediately available for an interview, their spokesman said.\nThe Velodyne saga is one that can often happen at startup companies that are not yet ready for prime time, when entrenched founders spar with their investors. One high-profile example that did made its way into the press in recent years was when VC investors pushed for the ouster of co-founder Travis Kalanick at Uber Technologies,long before the company went public.\nSo while SPACs may represent the democratization of venture-capital investing, where average retail investors have a more even playing field with Silicon Valley venture capitalists, getting in at the very early stages of young companies, it is also the democratizing the huge amounts of risk that are typically borne by professional investors. But unlike venture capitalists, who spread out their investments across a group of at least 10 various young or high-risk companies, knowing that most will fail as they hope to hit one big winner, individuals have a lot more to lose.\n“The SPACs we are seeing now are focused on somewhat VC-like companies. Many of these companies don’t have revenue, they don’t have positive cash flow or earnings. It’s kind of like a VC in a liquid form, via a SPAC,” said Robert Davis, a partner and chief investment officer of Round Table Wealth Management. “Not all these SPACs are going to be great.”\nThere is a lot of risk in many of these deals, especially in the “pre-revenue” bunch.\n“This is a little bit like in the Middle Ages, alchemists would take base metal and turn it into gold,” said Sandeep Dahiya, associate professor of entrepreneurship at Georgetown’s McDonough School of Business.“SPACs are like that: ‘Here, give us your money and we will try to make you rich.’ Let’s see how that plays out.”\nFor most investors, especially the average retail investor who did not get in early like the hedge funds, it will likely not end well in the short term. Anyone who is betting on long-term returns will need to choose wisely, and be wary of the SPAC flavor of the day.","news_type":1,"symbols_score_info":{"TSLA":0.9,"NKLA":0.9,"CCIV":0.9,"LI":0.9,"LRCX":0.9,"AMAT":0.9,"XPEV":0.9,"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":3162,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":321788088,"gmtCreate":1615470584244,"gmtModify":1703489508921,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/321788088","repostId":"1115960803","repostType":4,"isVote":1,"tweetType":1,"viewCount":1635,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349346457,"gmtCreate":1617553180079,"gmtModify":1634520551275,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/349346457","repostId":"1188150614","repostType":4,"repost":{"id":"1188150614","kind":"news","pubTimestamp":1617366389,"share":"https://www.laohu8.com/m/news/1188150614?lang=zh_CN&edition=full","pubTime":"2021-04-02 20:26","market":"us","language":"en","title":"3 Beaten-Down Stocks That Could Double Your Money<blockquote>3只遭受重创的股票可以让你的钱翻倍</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188150614","media":"Motley Fool","summary":"Market rotation malaise has infected many investors. Last year, the growth stocks in theNasdaq-100index trounced the staid giants in theDow Jones Industrial Average. It's been a different story so far in 2021, though. The big money appears to be moving into so-called \"risk-off\" stocks.As a result, many of the high-flyers from just a few months ago are now stuck in the doldrums. Some are even down more than 30% from their peaks set earlier this year. There's a silver lining in this dark cloud, ho","content":"<p>Market rotation malaise has infected many investors. Last year, the growth stocks in the<b>Nasdaq-100</b>index trounced the staid giants in the<b>Dow Jones Industrial Average</b>. It's been a different story so far in 2021, though. The big money appears to be moving into so-called \"risk-off\" stocks.</p><p><blockquote>市场轮动的萎靡已经感染了许多投资者。去年，成长股<b>纳斯达克100</b>指数击败了稳重的巨头<b>道琼斯工业平均指数</b>.不过，2021年到目前为止，情况有所不同。大笔资金似乎正在转向所谓的“避险”股票。</blockquote></p><p> As a result, many of the high-flyers from just a few months ago are now stuck in the doldrums. Some are even down more than 30% from their peaks set earlier this year. There's a silver lining in this dark cloud, however: Quite a few stocks with strong growth prospects are available at discounted prices.&nbsp;Here are three beaten-down stocks that could even double your money -- or more.</p><p><blockquote>结果，许多几个月前雄心勃勃的人现在都陷入了低迷。有些甚至比今年早些时候创下的峰值下降了30%以上。然而，乌云中也有一线希望：相当多具有强劲增长前景的股票可以打折购买。这里有三只遭受重创的股票，它们甚至可以让你的钱翻倍甚至更多。</blockquote></p><p> <b>DermTech</b></p><p><blockquote><b>皮肤技术</b></blockquote></p><p> <b>DermTech</b>(NASDAQ:DMTK)markets an exciting product: a skin genomics test that can detect melanoma more accurately and cheaper than surgical biopsy. Its shares soared over 145% year to date by the third week of February. Since then, though, thehealthcare stockhas fallen more than 35%.</p><p><blockquote><b>皮肤技术</b>（纳斯达克：DMTK）推出了一款令人兴奋的产品：一种皮肤基因组学测试，可以比手术活检更准确、更便宜地检测黑色素瘤。截至2月第三周，其股价今年迄今已飙升超过145%。不过，自那以来，医疗保健股已下跌超过35%。</blockquote></p><p> Part of the problem was the aforementioned general sell-off of growth stocks. However, DermTech also provided disappointing guidance in its fourth-quarter update. The company expects first-quarter assay revenue of between $1.6 million and $1.9 million compared to Q4 assay revenue of $1.6 million.</p><p><blockquote>部分问题在于前面提到的成长型股票的普遍抛售。然而，DermTech在第四季度更新中也提供了令人失望的指引。该公司预计第一季度检测收入在160万美元至190万美元之间，而第四季度检测收入为160万美元。</blockquote></p><p> DermTech still faces some COVID-19 headwinds in reaching out to physicians. The company's long-term growth prospects remain bright, though. DermTech continues to pick up commercial payer reimbursement for its first product, Pigmented Lesion Assay (PLA). It expects to launch an at-home genomics test that identifies ultraviolet ray damage and skin cancer risk next year.</p><p><blockquote>DermTech在接触医生方面仍然面临一些新冠肺炎的阻力。不过，该公司的长期增长前景仍然光明。DermTech继续为其首款产品色素性病变检测(PLA)获得商业付款人报销。它预计明年将推出一项家庭基因组学测试，以识别紫外线损伤和皮肤癌风险。</blockquote></p><p> The total addressable U.S. market that DermTech is targeting for all types of skin cancer is around $10 billion. With the company's market cap currently below $1.5 billion, DermTech should only have to capture a tiny sliver of this market to deliver huge returns for investors.</p><p><blockquote>DermTech针对所有类型皮肤癌的潜在美国市场总额约为100亿美元。由于该公司的市值目前低于15亿美元，DermTech应该只需占领这个市场的一小部分，就可以为投资者带来巨额回报。</blockquote></p><p> <b>Gores Holdings VI</b></p><p><blockquote><b>戈尔斯控股VI</b></blockquote></p><p> Special purpose acquisition company (SPAC) stocks were wildly popular not long ago. That's changed quite a bit.&nbsp;<b>Gores Holdings VI</b>(NASDAQ:GHVI)serves as a great example: The SPAC's shares skyrocketed more than 120% year to date by mid-February but are now down over 40% from those highs.</p><p><blockquote>特殊目的收购公司（SPAC）股票不久前广受欢迎。这已经改变了很多。<b>戈尔斯控股VI</b>（纳斯达克股票代码：GHVI）就是一个很好的例子：截至2月中旬，SPAC的股价今年迄今飙升了120%以上，但现在较高点下跌了40%以上。</blockquote></p><p> Gores Holdings VI and spatial data company Matterport announced on Feb. 8 that they plan to merge in a deal that will take Matterport public at an equity value of around $2.9 billion. But Matterport should be able to grow much larger than that relatively quickly.</p><p><blockquote>Gores Holdings VI和空间数据公司Matterport于2月8日宣布，他们计划合并，Matterport将以约29亿美元的股权价值上市。但Matterport应该能够相对较快地发展得更大。</blockquote></p><p> Matterport pioneered the spatial data market a decade ago. The company's technology can create a 3D \"digital twin\" of any physical space. Consulting firm<b>Accenture</b>recently picked digital twin technology asone of its top five tech trends of 2021.</p><p><blockquote>Matterport十年前开创了空间数据市场。该公司的技术可以创建任何物理空间的3D“数字孪生”。咨询公司<b>埃森哲</b>最近将数字孪生技术选为2021年五大技术趋势之一。</blockquote></p><p> The company already has over 250,000 customers, including 13% of the Fortune 1000. However, less than 1% of the more than 4 billion buildings across the world are currently digitized. This represents a $240 billion opportunity for Matterport. The company expects to nearly double its revenue in 2022 with growth accelerating in subsequent years.</p><p><blockquote>该公司已经拥有超过250,000名客户，其中包括财富1000强中的13%。然而，目前全球40多亿栋建筑中只有不到1%实现了数字化。这对Matterport来说意味着2400亿美元的机会。该公司预计2022年收入将增长近一倍，随后几年增长将加速。</blockquote></p><p> <b>Skillz</b></p><p><blockquote><b>斯基尔茨</b></blockquote></p><p> <b>Skillz</b>(NYSE:SKLZ)stands as the biggest loser of these three beaten-down stocks. Shares of the mobile game platform provider soared nearly 120% by early February only to give up all of those gains and then some. The stock is now down over 5% year to date.</p><p><blockquote><b>斯基尔茨</b>（纽约证券交易所股票代码：SKLZ）是这三只遭受重创的股票中跌幅最大的。截至2月初，这家移动游戏平台提供商的股价飙升近120%，但随后又回吐了全部涨幅，甚至部分涨幅。今年迄今为止，该股已下跌超过5%。</blockquote></p><p> Like DermTech and Gores Holdings VI, Skillz was negatively impacted by the market rotation away from growth stocks. However, the company's decision to sell 17 million shares in a public offering also hurt.</p><p><blockquote>与DermTech和Gores Holdings VI一样，Skillz也受到了市场远离成长型股票的负面影响。然而，该公司公开发行出售1700万股股票的决定也造成了伤害。</blockquote></p><p> Skillz's competition-focused approach keeps users more engaged than other leading online platforms. It's also driving tremendous growth. The company's revenue nearly doubled in 2020. Skillz is especially making inroads in converting users to paying customers.</p><p><blockquote>Skillz以竞争为中心的方法比其他领先的在线平台更能吸引用户。它也推动了巨大的增长。该公司的收入在2020年几乎翻了一番。Skillz在将用户转化为付费客户方面尤其取得了进展。</blockquote></p><p> The mobile gaming market totaled $86 billion last year and continues to grow rapidly. Skillz should be able to increase its market share as it expands internationally and adds new genres of games to its platform. The company's multi-year agreement with the NFL could also provide a big boost.</p><p><blockquote>去年移动游戏市场总额为860亿美元，并继续快速增长。随着Skillz在国际上扩张并在其平台上添加新类型的游戏，它应该能够增加其市场份额。该公司与NFL的多年协议也可能带来巨大推动。</blockquote></p><p> Skillz looks like a stock that could easily double your money and perhaps deliver much greater returns than that over the next couple of years.</p><p><blockquote>Skillz看起来像是一只可以轻松让你的钱翻倍的股票，并且在未来几年内可能会带来比这更高的回报。</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>3 Beaten-Down Stocks That Could Double Your Money<blockquote>3只遭受重创的股票可以让你的钱翻倍</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\">\n3 Beaten-Down Stocks That Could Double Your Money<blockquote>3只遭受重创的股票可以让你的钱翻倍</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-04-02 20:26</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Market rotation malaise has infected many investors. Last year, the growth stocks in the<b>Nasdaq-100</b>index trounced the staid giants in the<b>Dow Jones Industrial Average</b>. It's been a different story so far in 2021, though. The big money appears to be moving into so-called \"risk-off\" stocks.</p><p><blockquote>市场轮动的萎靡已经感染了许多投资者。去年，成长股<b>纳斯达克100</b>指数击败了稳重的巨头<b>道琼斯工业平均指数</b>.不过，2021年到目前为止，情况有所不同。大笔资金似乎正在转向所谓的“避险”股票。</blockquote></p><p> As a result, many of the high-flyers from just a few months ago are now stuck in the doldrums. Some are even down more than 30% from their peaks set earlier this year. There's a silver lining in this dark cloud, however: Quite a few stocks with strong growth prospects are available at discounted prices.&nbsp;Here are three beaten-down stocks that could even double your money -- or more.</p><p><blockquote>结果，许多几个月前雄心勃勃的人现在都陷入了低迷。有些甚至比今年早些时候创下的峰值下降了30%以上。然而，乌云中也有一线希望：相当多具有强劲增长前景的股票可以打折购买。这里有三只遭受重创的股票，它们甚至可以让你的钱翻倍甚至更多。</blockquote></p><p> <b>DermTech</b></p><p><blockquote><b>皮肤技术</b></blockquote></p><p> <b>DermTech</b>(NASDAQ:DMTK)markets an exciting product: a skin genomics test that can detect melanoma more accurately and cheaper than surgical biopsy. Its shares soared over 145% year to date by the third week of February. Since then, though, thehealthcare stockhas fallen more than 35%.</p><p><blockquote><b>皮肤技术</b>（纳斯达克：DMTK）推出了一款令人兴奋的产品：一种皮肤基因组学测试，可以比手术活检更准确、更便宜地检测黑色素瘤。截至2月第三周，其股价今年迄今已飙升超过145%。不过，自那以来，医疗保健股已下跌超过35%。</blockquote></p><p> Part of the problem was the aforementioned general sell-off of growth stocks. However, DermTech also provided disappointing guidance in its fourth-quarter update. The company expects first-quarter assay revenue of between $1.6 million and $1.9 million compared to Q4 assay revenue of $1.6 million.</p><p><blockquote>部分问题在于前面提到的成长型股票的普遍抛售。然而，DermTech在第四季度更新中也提供了令人失望的指引。该公司预计第一季度检测收入在160万美元至190万美元之间，而第四季度检测收入为160万美元。</blockquote></p><p> DermTech still faces some COVID-19 headwinds in reaching out to physicians. The company's long-term growth prospects remain bright, though. DermTech continues to pick up commercial payer reimbursement for its first product, Pigmented Lesion Assay (PLA). It expects to launch an at-home genomics test that identifies ultraviolet ray damage and skin cancer risk next year.</p><p><blockquote>DermTech在接触医生方面仍然面临一些新冠肺炎的阻力。不过，该公司的长期增长前景仍然光明。DermTech继续为其首款产品色素性病变检测(PLA)获得商业付款人报销。它预计明年将推出一项家庭基因组学测试，以识别紫外线损伤和皮肤癌风险。</blockquote></p><p> The total addressable U.S. market that DermTech is targeting for all types of skin cancer is around $10 billion. With the company's market cap currently below $1.5 billion, DermTech should only have to capture a tiny sliver of this market to deliver huge returns for investors.</p><p><blockquote>DermTech针对所有类型皮肤癌的潜在美国市场总额约为100亿美元。由于该公司的市值目前低于15亿美元，DermTech应该只需占领这个市场的一小部分，就可以为投资者带来巨额回报。</blockquote></p><p> <b>Gores Holdings VI</b></p><p><blockquote><b>戈尔斯控股VI</b></blockquote></p><p> Special purpose acquisition company (SPAC) stocks were wildly popular not long ago. That's changed quite a bit.&nbsp;<b>Gores Holdings VI</b>(NASDAQ:GHVI)serves as a great example: The SPAC's shares skyrocketed more than 120% year to date by mid-February but are now down over 40% from those highs.</p><p><blockquote>特殊目的收购公司（SPAC）股票不久前广受欢迎。这已经改变了很多。<b>戈尔斯控股VI</b>（纳斯达克股票代码：GHVI）就是一个很好的例子：截至2月中旬，SPAC的股价今年迄今飙升了120%以上，但现在较高点下跌了40%以上。</blockquote></p><p> Gores Holdings VI and spatial data company Matterport announced on Feb. 8 that they plan to merge in a deal that will take Matterport public at an equity value of around $2.9 billion. But Matterport should be able to grow much larger than that relatively quickly.</p><p><blockquote>Gores Holdings VI和空间数据公司Matterport于2月8日宣布，他们计划合并，Matterport将以约29亿美元的股权价值上市。但Matterport应该能够相对较快地发展得更大。</blockquote></p><p> Matterport pioneered the spatial data market a decade ago. The company's technology can create a 3D \"digital twin\" of any physical space. Consulting firm<b>Accenture</b>recently picked digital twin technology asone of its top five tech trends of 2021.</p><p><blockquote>Matterport十年前开创了空间数据市场。该公司的技术可以创建任何物理空间的3D“数字孪生”。咨询公司<b>埃森哲</b>最近将数字孪生技术选为2021年五大技术趋势之一。</blockquote></p><p> The company already has over 250,000 customers, including 13% of the Fortune 1000. However, less than 1% of the more than 4 billion buildings across the world are currently digitized. This represents a $240 billion opportunity for Matterport. The company expects to nearly double its revenue in 2022 with growth accelerating in subsequent years.</p><p><blockquote>该公司已经拥有超过250,000名客户，其中包括财富1000强中的13%。然而，目前全球40多亿栋建筑中只有不到1%实现了数字化。这对Matterport来说意味着2400亿美元的机会。该公司预计2022年收入将增长近一倍，随后几年增长将加速。</blockquote></p><p> <b>Skillz</b></p><p><blockquote><b>斯基尔茨</b></blockquote></p><p> <b>Skillz</b>(NYSE:SKLZ)stands as the biggest loser of these three beaten-down stocks. Shares of the mobile game platform provider soared nearly 120% by early February only to give up all of those gains and then some. The stock is now down over 5% year to date.</p><p><blockquote><b>斯基尔茨</b>（纽约证券交易所股票代码：SKLZ）是这三只遭受重创的股票中跌幅最大的。截至2月初，这家移动游戏平台提供商的股价飙升近120%，但随后又回吐了全部涨幅，甚至部分涨幅。今年迄今为止，该股已下跌超过5%。</blockquote></p><p> Like DermTech and Gores Holdings VI, Skillz was negatively impacted by the market rotation away from growth stocks. However, the company's decision to sell 17 million shares in a public offering also hurt.</p><p><blockquote>与DermTech和Gores Holdings VI一样，Skillz也受到了市场远离成长型股票的负面影响。然而，该公司公开发行出售1700万股股票的决定也造成了伤害。</blockquote></p><p> Skillz's competition-focused approach keeps users more engaged than other leading online platforms. It's also driving tremendous growth. The company's revenue nearly doubled in 2020. Skillz is especially making inroads in converting users to paying customers.</p><p><blockquote>Skillz以竞争为中心的方法比其他领先的在线平台更能吸引用户。它也推动了巨大的增长。该公司的收入在2020年几乎翻了一番。Skillz在将用户转化为付费客户方面尤其取得了进展。</blockquote></p><p> The mobile gaming market totaled $86 billion last year and continues to grow rapidly. Skillz should be able to increase its market share as it expands internationally and adds new genres of games to its platform. The company's multi-year agreement with the NFL could also provide a big boost.</p><p><blockquote>去年移动游戏市场总额为860亿美元，并继续快速增长。随着Skillz在国际上扩张并在其平台上添加新类型的游戏，它应该能够增加其市场份额。该公司与NFL的多年协议也可能带来巨大推动。</blockquote></p><p> Skillz looks like a stock that could easily double your money and perhaps deliver much greater returns than that over the next couple of years.</p><p><blockquote>Skillz看起来像是一只可以轻松让你的钱翻倍的股票，并且在未来几年内可能会带来比这更高的回报。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/04/02/3-beaten-down-stocks-that-could-double-your-money/\">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":{},"source_url":"https://www.fool.com/investing/2021/04/02/3-beaten-down-stocks-that-could-double-your-money/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188150614","content_text":"Market rotation malaise has infected many investors. Last year, the growth stocks in theNasdaq-100index trounced the staid giants in theDow Jones Industrial Average. It's been a different story so far in 2021, though. The big money appears to be moving into so-called \"risk-off\" stocks.\nAs a result, many of the high-flyers from just a few months ago are now stuck in the doldrums. Some are even down more than 30% from their peaks set earlier this year. There's a silver lining in this dark cloud, however: Quite a few stocks with strong growth prospects are available at discounted prices. Here are three beaten-down stocks that could even double your money -- or more.\nDermTech\nDermTech(NASDAQ:DMTK)markets an exciting product: a skin genomics test that can detect melanoma more accurately and cheaper than surgical biopsy. Its shares soared over 145% year to date by the third week of February. Since then, though, thehealthcare stockhas fallen more than 35%.\nPart of the problem was the aforementioned general sell-off of growth stocks. However, DermTech also provided disappointing guidance in its fourth-quarter update. The company expects first-quarter assay revenue of between $1.6 million and $1.9 million compared to Q4 assay revenue of $1.6 million.\nDermTech still faces some COVID-19 headwinds in reaching out to physicians. The company's long-term growth prospects remain bright, though. DermTech continues to pick up commercial payer reimbursement for its first product, Pigmented Lesion Assay (PLA). It expects to launch an at-home genomics test that identifies ultraviolet ray damage and skin cancer risk next year.\nThe total addressable U.S. market that DermTech is targeting for all types of skin cancer is around $10 billion. With the company's market cap currently below $1.5 billion, DermTech should only have to capture a tiny sliver of this market to deliver huge returns for investors.\nGores Holdings VI\nSpecial purpose acquisition company (SPAC) stocks were wildly popular not long ago. That's changed quite a bit. Gores Holdings VI(NASDAQ:GHVI)serves as a great example: The SPAC's shares skyrocketed more than 120% year to date by mid-February but are now down over 40% from those highs.\nGores Holdings VI and spatial data company Matterport announced on Feb. 8 that they plan to merge in a deal that will take Matterport public at an equity value of around $2.9 billion. But Matterport should be able to grow much larger than that relatively quickly.\nMatterport pioneered the spatial data market a decade ago. The company's technology can create a 3D \"digital twin\" of any physical space. Consulting firmAccenturerecently picked digital twin technology asone of its top five tech trends of 2021.\nThe company already has over 250,000 customers, including 13% of the Fortune 1000. However, less than 1% of the more than 4 billion buildings across the world are currently digitized. This represents a $240 billion opportunity for Matterport. The company expects to nearly double its revenue in 2022 with growth accelerating in subsequent years.\nSkillz\nSkillz(NYSE:SKLZ)stands as the biggest loser of these three beaten-down stocks. Shares of the mobile game platform provider soared nearly 120% by early February only to give up all of those gains and then some. The stock is now down over 5% year to date.\nLike DermTech and Gores Holdings VI, Skillz was negatively impacted by the market rotation away from growth stocks. However, the company's decision to sell 17 million shares in a public offering also hurt.\nSkillz's competition-focused approach keeps users more engaged than other leading online platforms. It's also driving tremendous growth. The company's revenue nearly doubled in 2020. Skillz is especially making inroads in converting users to paying customers.\nThe mobile gaming market totaled $86 billion last year and continues to grow rapidly. Skillz should be able to increase its market share as it expands internationally and adds new genres of games to its platform. The company's multi-year agreement with the NFL could also provide a big boost.\nSkillz looks like a stock that could easily double your money and perhaps deliver much greater returns than that over the next couple of years.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366821361,"gmtCreate":1614438266853,"gmtModify":1703477566043,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366821361","repostId":"1103930774","repostType":4,"repost":{"id":"1103930774","kind":"news","pubTimestamp":1614334872,"share":"https://www.laohu8.com/m/news/1103930774?lang=zh_CN&edition=full","pubTime":"2021-02-26 18:21","market":"us","language":"en","title":"Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1103930774","media":"Motley Fool ","summary":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an intervi","content":"<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</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\">\nWhy QuantumScape Stock Rose Then Fell Thursday<blockquote>为什么QuantumScape股票周四先涨后跌</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\">2021-02-26 18:21</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.</p><p><blockquote>备受投资者关注的固态电动汽车电池制造商的首席执行官今天接受了采访。</blockquote></p><p> <b>What happened</b></p><p><blockquote><b>发生了什么</b></blockquote></p><p> The stock of aspiring solid-state battery technology company&nbsp;<b>QuantumScape</b>&nbsp;(NYSE:QS)&nbsp;has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.</p><p><blockquote>有抱负的固态电池技术公司股票<b>量子景观</b>（纽约证券交易所股票代码：QS）确实经历了起起落落。今天该股的走势反映了这种模式。在开盘上涨10%后，周四收盘下跌超过3%。</blockquote></p><p> <b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p> Shares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the&nbsp;electric-vehicle (EV)&nbsp;sector as a speculative stock hoping to revolutionize EV battery technology.</p><p><blockquote>该公司股价在2020年底飙升三位数后，今年迄今已下跌超过30%。该公司倾向于将电动汽车（EV）行业作为投机性股票进行交易，希望彻底改变电动汽车电池技术。</blockquote></p><p> Today, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.</p><p><blockquote>今天，QuantumScape首席执行官Jagdeep Singh接受了雅虎的采访！金融，这可能导致该股交易波动。</blockquote></p><p> <b>Now what</b></p><p><blockquote><b>现在怎么办</b></blockquote></p><p> During today's interview, Singh reiterated some positive developments the company shared with investors&nbsp;last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.</p><p><blockquote>在今天的采访中，辛格重申了该公司上周在财报中与投资者分享的一些积极进展。该公司正在努力将固态电池技术商业化，该技术可以为电动汽车制造商提供更安全、充电更快、续航里程更长的电池。</blockquote></p><p> The company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.</p><p><blockquote>该公司报告称，它已经成功制造了第一个四层多层电池。这有助于确认该技术是可行的。辛格补充说，他计划在今年年底前扩大该技术，使其拥有8至10层电池。这将使该公司能够向汽车制造商提供样品电池。</blockquote></p><p> Singh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.</p><p><blockquote>辛格还表示，其他行业也对这项技术感兴趣。“像电网的固定存储这样的东西，对于电池来说是一个非常重要的应用，”辛格在采访中表示。</blockquote></p><p> Successful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.</p><p><blockquote>然而，成功的商业生产还远未得到保证。任何投资都应该完全属于投资组合的投机部分。投资者应该预计业务发展和股票都会起起落落，正如今天的涨跌所看到的那样。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/\">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":{"QS":"Quantumscape Corp."},"source_url":"https://www.fool.com/investing/2021/02/25/why-quantumscape-stock-rose-then-fell-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103930774","content_text":"The CEO of the solid-state EV battery maker that has garnered much investor interest gave an interview today.\nWhat happened\nThe stock of aspiring solid-state battery technology company QuantumScape (NYSE:QS) has certainly seen ups and downs. Movement in the stock today mirrored that pattern. After an early 10% jump, shares closed more than 3% lower on Thursday.\nSo what\nShares of the company are down more than 30% year to date after a triple-digit spike in late 2020. The company tends to trade with the electric-vehicle (EV) sector as a speculative stock hoping to revolutionize EV battery technology.\nToday, QuantumScape CEO Jagdeep Singh gave an interview to Yahoo! Finance, which may have contributed to the stock's volatile trading.\nNow what\nDuring today's interview, Singh reiterated some positive developments the company shared with investors last week in its earnings release. The company is working toward commercializing the solid-state battery technology that could provide EV makers with a safer, faster-charging battery that can also deliver longer ranges.\nThe company reported it has successfully built its first multilayer battery cell with four layers. This helps confirm the technology is feasible. Singh added that he plans to scale up the technology to have an eight to 10-layer cell by the end of this year. That would allow the company to deliver sample cells to automotive manufacturers.\nSingh also said there is interest from other sectors for the technology. \"Things like stationary storage for the grid, that's a really important application for batteries,\" Singh stated in the interview.\nSuccessful commercial production is far from guaranteed, however. Any investment should be squarely in a speculative portion of a portfolio. And investors should expect ups and downs for both the business developments and the stock, as was seen with today's jump and drop.","news_type":1,"symbols_score_info":{"QS":0.9}},"isVote":1,"tweetType":1,"viewCount":763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360757818,"gmtCreate":1613983631034,"gmtModify":1634551669127,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"oh no","listText":"oh no","text":"oh no","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/360757818","repostId":"1135257653","repostType":4,"repost":{"id":"1135257653","kind":"news","pubTimestamp":1613972461,"share":"https://www.laohu8.com/m/news/1135257653?lang=zh_CN&edition=full","pubTime":"2021-02-22 13:41","market":"us","language":"en","title":"Buffett Sells Apple: Should Investors Worry?<blockquote>巴菲特抛售苹果：投资者应该担心吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135257653","media":"TheStreet","summary":"Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter","content":"<p>Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter of 2020. However, the Apple Maven does not think that investors should be too concerned.</p><p><blockquote>Warren Buffett旗下Berkshire Hathaway已在2020年第四季度出售了价值74亿美元的苹果股票。不过，这位苹果专家认为投资者不应该过于担心。</blockquote></p><p> Warren Buffet’s Berkshire Hathaway hasprovidedan update on its portfolio holdings, this time as of December 2020. Among other key changes that I will review further below, Apple stood out.</p><p><blockquote>沃伦·巴菲特(Warren Buffet)的伯克希尔·哈撒韦公司(Berkshire Hathaway)提供了截至2020年12月的投资组合最新情况。在我将在下面进一步回顾的其他关键变化中，苹果脱颖而出。</blockquote></p><p> Between the third and fourth quarters, the Oracle of Omaha’s conglomerate shed about 57 million shares of the Cupertino company. At mid-February prices, the sale amounted to about $7.4 billion worth of the stock. Coincidence or not, Apple shares have been spinning their wheels at around $130, nearly 9% off January 2021 all-time highs.</p><p><blockquote>第三季度至第四季度期间，这家奥马哈先知的企业集团抛售了库比蒂诺公司约5700万股股票。按2月中旬的价格计算，此次出售的股票价值约74亿美元。不管是不是巧合，苹果股价一直在130美元左右旋转，比2021年1月的历史高点低了近9%。</blockquote></p><p> But should investors care? Do Warren Buffett and his management team appear to be any less bullish towards Apple now than they were a few months ago?</p><p><blockquote>但投资者应该关心吗？与几个月前相比，Warren Buffett和他的管理团队现在对苹果的看好程度是否有所下降？</blockquote></p><p> <b>More of a trim than a bearish move</b></p><p><blockquote><b>与其说是看跌，不如说是削减</b></blockquote></p><p> The sale of Apple shares in the fourth quarter led to Berkshire Hathaway allocating substantially less to Apple&nbsp;than about half a year ago, when nearly 48% of the portfolio was parked in this stock. As the chart below depicts, Apple now accounts for “only” 43% of the conglomerate’s capital.</p><p><blockquote>第四季度出售苹果股票导致Berkshire Hathaway对苹果的配置比大约半年前大幅减少，当时近48%的投资组合都投资于这只股票。如下图所示，苹果目前“仅”占该集团资本的43%。</blockquote></p><p> But the Apple Maven is not too concerned about Apple losing the Buffett seal of approval, for two reasons.</p><p><blockquote>但这位苹果专家并不太担心苹果会失去巴菲特的认可，原因有二。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8576d2a122784d91361af747462f374\" tg-width=\"1240\" tg-height=\"934\"><span>Allocation of Berkshire Hathaway's Portfolio, Dec 2020.</span></p><p><blockquote><p class=\"t-img-caption\"><span>伯克希尔哈撒韦公司投资组合的分配，2020年12月。</span></p></blockquote></p><p> First, 43% of $277 billion is still quite a bit of money. Note, for example, that Warren Buffett and crew barely invest in tech stocks. Apple is a sizable and meaningful exception to this rule.</p><p><blockquote>首先，2770亿美元中的43%仍然是一大笔钱。例如，请注意，沃伦·巴菲特和他的团队几乎不投资科技股。苹果是这一规则的一个相当大且有意义的例外。</blockquote></p><p> Second, Apple stock was worth a whole lot more at the end of the fourth quarter compared to the third: $132 vs. $115 per share. Therefore, Berkshire’s total investment amount in Apple did not decrease between the two periods. In fact, it increased from $111 billion to $120 billion.</p><p><blockquote>其次，与第三季度末相比，苹果股票第四季度末的价值要高得多：每股132美元对115美元。因此，Berkshire在苹果的总投资金额在两个时期之间并没有减少。事实上，它从1110亿美元增加到了1200亿美元。</blockquote></p><p> Considering how much Apple stock Berkshire owns, the Apple Maven thinks that it was reasonable for the conglomerate to trim a bit of its Apple position. Therefore, I still believe that Buffett and his companyremain a raging Apple bull.</p><p><blockquote>考虑到伯克希尔持有的苹果股票数量，这位苹果专家认为伯克希尔削减其苹果头寸是合理的。因此，我仍然相信巴菲特和他的公司仍然是苹果的狂热多头。</blockquote></p><p> <b>New Berkshire bets</b></p><p><blockquote><b>伯克希尔新赌注</b></blockquote></p><p> Apple was not the only stock to make the Berkshire Hathaway headlines. Below are a few noteworthy additions to the portfolio:</p><p><blockquote>苹果并不是唯一登上Berkshire Hathaway头条的股票。以下是投资组合中一些值得注意的新增内容：</blockquote></p><p> <ul>  <li><b>Verizon</b>: Berkshire now has a sizable 3.5% stake in the telecom giant, representing 3% of the conglomerate’s portfolio. Not much of a surprise, Verizon stock ended the Wednesday trading session up about 5%.</li>  <li><b>Chevron</b>: another large addition to the portfolio was the oil and gas supermajor. Berkshire now owns 2.5% of the company.</li>  <li><b>Marsh &amp; McLennan</b>: this was the third and last new name to pop up in Berkshire’s 13-F filing. Buffett and co. now own 0.8% of the insurance and consulting company.</li> </ul></p><p><blockquote><ul><li><b>Verizon</b>：伯克希尔目前持有这家电信巨头3.5%的股份，占该集团投资组合的3%。毫不奇怪，Verizon股价周三收盘上涨约5%。</li><li><b>雪佛龙</b>：投资组合中的另一个重要成员是石油和天然气巨头。伯克希尔目前拥有该公司2.5%的股份。</li><li><b>马什-麦克伦南律师事务所</b>：这是伯克希尔13-F文件中出现的第三个也是最后一个新名字。巴菲特公司目前拥有这家保险和咨询公司0.8%的股份。</li></ul></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>Buffett Sells Apple: Should Investors Worry?<blockquote>巴菲特抛售苹果：投资者应该担心吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuffett Sells Apple: Should Investors Worry?<blockquote>巴菲特抛售苹果：投资者应该担心吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">TheStreet</strong><span class=\"h-time small\">2021-02-22 13:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter of 2020. However, the Apple Maven does not think that investors should be too concerned.</p><p><blockquote>Warren Buffett旗下Berkshire Hathaway已在2020年第四季度出售了价值74亿美元的苹果股票。不过，这位苹果专家认为投资者不应该过于担心。</blockquote></p><p> Warren Buffet’s Berkshire Hathaway hasprovidedan update on its portfolio holdings, this time as of December 2020. Among other key changes that I will review further below, Apple stood out.</p><p><blockquote>沃伦·巴菲特(Warren Buffet)的伯克希尔·哈撒韦公司(Berkshire Hathaway)提供了截至2020年12月的投资组合最新情况。在我将在下面进一步回顾的其他关键变化中，苹果脱颖而出。</blockquote></p><p> Between the third and fourth quarters, the Oracle of Omaha’s conglomerate shed about 57 million shares of the Cupertino company. At mid-February prices, the sale amounted to about $7.4 billion worth of the stock. Coincidence or not, Apple shares have been spinning their wheels at around $130, nearly 9% off January 2021 all-time highs.</p><p><blockquote>第三季度至第四季度期间，这家奥马哈先知的企业集团抛售了库比蒂诺公司约5700万股股票。按2月中旬的价格计算，此次出售的股票价值约74亿美元。不管是不是巧合，苹果股价一直在130美元左右旋转，比2021年1月的历史高点低了近9%。</blockquote></p><p> But should investors care? Do Warren Buffett and his management team appear to be any less bullish towards Apple now than they were a few months ago?</p><p><blockquote>但投资者应该关心吗？与几个月前相比，Warren Buffett和他的管理团队现在对苹果的看好程度是否有所下降？</blockquote></p><p> <b>More of a trim than a bearish move</b></p><p><blockquote><b>与其说是看跌，不如说是削减</b></blockquote></p><p> The sale of Apple shares in the fourth quarter led to Berkshire Hathaway allocating substantially less to Apple&nbsp;than about half a year ago, when nearly 48% of the portfolio was parked in this stock. As the chart below depicts, Apple now accounts for “only” 43% of the conglomerate’s capital.</p><p><blockquote>第四季度出售苹果股票导致Berkshire Hathaway对苹果的配置比大约半年前大幅减少，当时近48%的投资组合都投资于这只股票。如下图所示，苹果目前“仅”占该集团资本的43%。</blockquote></p><p> But the Apple Maven is not too concerned about Apple losing the Buffett seal of approval, for two reasons.</p><p><blockquote>但这位苹果专家并不太担心苹果会失去巴菲特的认可，原因有二。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e8576d2a122784d91361af747462f374\" tg-width=\"1240\" tg-height=\"934\"><span>Allocation of Berkshire Hathaway's Portfolio, Dec 2020.</span></p><p><blockquote><p class=\"t-img-caption\"><span>伯克希尔哈撒韦公司投资组合的分配，2020年12月。</span></p></blockquote></p><p> First, 43% of $277 billion is still quite a bit of money. Note, for example, that Warren Buffett and crew barely invest in tech stocks. Apple is a sizable and meaningful exception to this rule.</p><p><blockquote>首先，2770亿美元中的43%仍然是一大笔钱。例如，请注意，沃伦·巴菲特和他的团队几乎不投资科技股。苹果是这一规则的一个相当大且有意义的例外。</blockquote></p><p> Second, Apple stock was worth a whole lot more at the end of the fourth quarter compared to the third: $132 vs. $115 per share. Therefore, Berkshire’s total investment amount in Apple did not decrease between the two periods. In fact, it increased from $111 billion to $120 billion.</p><p><blockquote>其次，与第三季度末相比，苹果股票第四季度末的价值要高得多：每股132美元对115美元。因此，Berkshire在苹果的总投资金额在两个时期之间并没有减少。事实上，它从1110亿美元增加到了1200亿美元。</blockquote></p><p> Considering how much Apple stock Berkshire owns, the Apple Maven thinks that it was reasonable for the conglomerate to trim a bit of its Apple position. Therefore, I still believe that Buffett and his companyremain a raging Apple bull.</p><p><blockquote>考虑到伯克希尔持有的苹果股票数量，这位苹果专家认为伯克希尔削减其苹果头寸是合理的。因此，我仍然相信巴菲特和他的公司仍然是苹果的狂热多头。</blockquote></p><p> <b>New Berkshire bets</b></p><p><blockquote><b>伯克希尔新赌注</b></blockquote></p><p> Apple was not the only stock to make the Berkshire Hathaway headlines. Below are a few noteworthy additions to the portfolio:</p><p><blockquote>苹果并不是唯一登上Berkshire Hathaway头条的股票。以下是投资组合中一些值得注意的新增内容：</blockquote></p><p> <ul>  <li><b>Verizon</b>: Berkshire now has a sizable 3.5% stake in the telecom giant, representing 3% of the conglomerate’s portfolio. Not much of a surprise, Verizon stock ended the Wednesday trading session up about 5%.</li>  <li><b>Chevron</b>: another large addition to the portfolio was the oil and gas supermajor. Berkshire now owns 2.5% of the company.</li>  <li><b>Marsh &amp; McLennan</b>: this was the third and last new name to pop up in Berkshire’s 13-F filing. Buffett and co. now own 0.8% of the insurance and consulting company.</li> </ul></p><p><blockquote><ul><li><b>Verizon</b>：伯克希尔目前持有这家电信巨头3.5%的股份，占该集团投资组合的3%。毫不奇怪，Verizon股价周三收盘上涨约5%。</li><li><b>雪佛龙</b>：投资组合中的另一个重要成员是石油和天然气巨头。伯克希尔目前拥有该公司2.5%的股份。</li><li><b>马什-麦克伦南律师事务所</b>：这是伯克希尔13-F文件中出现的第三个也是最后一个新名字。巴菲特公司目前拥有这家保险和咨询公司0.8%的股份。</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/apple/news/buffett-sells-apple-should-investors-worry\">TheStreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果","BRK.B":"伯克希尔B","BRK.A":"伯克希尔"},"source_url":"https://www.thestreet.com/apple/news/buffett-sells-apple-should-investors-worry","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135257653","content_text":"Warren Buffett’s Berkshire Hathaway has sold $7.4 billion worth of Apple stock in the fourth quarter of 2020. However, the Apple Maven does not think that investors should be too concerned.\nWarren Buffet’s Berkshire Hathaway hasprovidedan update on its portfolio holdings, this time as of December 2020. Among other key changes that I will review further below, Apple stood out.\nBetween the third and fourth quarters, the Oracle of Omaha’s conglomerate shed about 57 million shares of the Cupertino company. At mid-February prices, the sale amounted to about $7.4 billion worth of the stock. Coincidence or not, Apple shares have been spinning their wheels at around $130, nearly 9% off January 2021 all-time highs.\nBut should investors care? Do Warren Buffett and his management team appear to be any less bullish towards Apple now than they were a few months ago?\nMore of a trim than a bearish move\nThe sale of Apple shares in the fourth quarter led to Berkshire Hathaway allocating substantially less to Apple than about half a year ago, when nearly 48% of the portfolio was parked in this stock. As the chart below depicts, Apple now accounts for “only” 43% of the conglomerate’s capital.\nBut the Apple Maven is not too concerned about Apple losing the Buffett seal of approval, for two reasons.\nAllocation of Berkshire Hathaway's Portfolio, Dec 2020.\nFirst, 43% of $277 billion is still quite a bit of money. Note, for example, that Warren Buffett and crew barely invest in tech stocks. Apple is a sizable and meaningful exception to this rule.\nSecond, Apple stock was worth a whole lot more at the end of the fourth quarter compared to the third: $132 vs. $115 per share. Therefore, Berkshire’s total investment amount in Apple did not decrease between the two periods. In fact, it increased from $111 billion to $120 billion.\nConsidering how much Apple stock Berkshire owns, the Apple Maven thinks that it was reasonable for the conglomerate to trim a bit of its Apple position. Therefore, I still believe that Buffett and his companyremain a raging Apple bull.\nNew Berkshire bets\nApple was not the only stock to make the Berkshire Hathaway headlines. Below are a few noteworthy additions to the portfolio:\n\nVerizon: Berkshire now has a sizable 3.5% stake in the telecom giant, representing 3% of the conglomerate’s portfolio. Not much of a surprise, Verizon stock ended the Wednesday trading session up about 5%.\nChevron: another large addition to the portfolio was the oil and gas supermajor. Berkshire now owns 2.5% of the company.\nMarsh & McLennan: this was the third and last new name to pop up in Berkshire’s 13-F filing. Buffett and co. now own 0.8% of the insurance and consulting company.","news_type":1,"symbols_score_info":{"AAPL":0.9,"BRK.A":0.9,"BRK.B":0.9}},"isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360338458,"gmtCreate":1613828464274,"gmtModify":1634552090770,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360338458","repostId":"1143100356","repostType":4,"isVote":1,"tweetType":1,"viewCount":656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382529322,"gmtCreate":1613468222266,"gmtModify":1634553564769,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/382529322","repostId":"2111838268","repostType":4,"isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343322102,"gmtCreate":1617679629406,"gmtModify":1634297140780,"author":{"id":"3573746332455410","authorId":"3573746332455410","name":"Maronas7","avatar":"https://static.tigerbbs.com/28f0f69f916dd3e8177e2326d20e1b39","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573746332455410","authorIdStr":"3573746332455410"},"themes":[],"htmlText":"Good news","listText":"Good news","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/343322102","repostId":"1118400518","repostType":4,"isVote":1,"tweetType":1,"viewCount":2893,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}