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2021-03-30

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2021-09-03

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Beyond Meat shares fell 1.26% in premarket trading

2021-09-25

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Friday's Market Minute: Takeaways From Another Volatile Earnings Season

2021-08-08

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2021-06-11

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2021-09-16

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2021-04-07

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2021-03-28

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2021-11-02

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Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now

2021-07-26

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2021-07-01

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2021-05-22

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2021-10-03

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Why Tesla's Q3 Numbers Are 'Eye Popping' and Hard to Poke Holes In

2021-08-11

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2021-07-02

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2021-11-04

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2021-08-25

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2021-08-06

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The S&P 500 Can Rise Another 6% This Year, Goldman Sachs Says. Why It’s So Upbeat.

2021-05-30

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2021-05-09

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up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/692569701","repostId":"2200744536","repostType":2,"isVote":1,"tweetType":1,"viewCount":2156,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692569560,"gmtCreate":1641052601065,"gmtModify":1641052601677,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"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/692569560","repostId":"2200442444","repostType":2,"isVote":1,"tweetType":1,"viewCount":2096,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692651176,"gmtCreate":1640951425208,"gmtModify":1640951425845,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/692651176","repostId":"1106092668","repostType":2,"repost":{"id":"1106092668","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1640876653,"share":"https://www.laohu8.com/m/news/1106092668?lang=&edition=full","pubTime":"2021-12-30 23:04","market":"us","language":"en","title":"Sea Limited Shares Jumped More Than 4% in Morning Trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1106092668","media":"Tiger Newspress","summary":"Sea Limited shares jumped more than 4% in morning trading.Also Read:Sea Limited: A Deep Dive To Unde","content":"<html><head></head><body><p>Sea Limited shares jumped more than 4% in morning trading.</p><p><img src=\"https://static.tigerbbs.com/448dcc7d589843674730e046aa6ef96a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Also Read:</b><b>Sea Limited: A Deep Dive To Understand The Recent Selloff</b></p><p><b>Summary</b></p><ul><li>Sea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.</li><li>I dive into each of its segments to understand the recent selloff and justify the current valuation.</li><li>I consider Sea one of my ten highest conviction investments.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa5cbe0a30acc723a2c6f62300024002\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>kokkai/iStock Unreleased via Getty Images</span></p><p><b>Thesis</b></p><p>A by-parts analysis of Sea Limited&#39;s (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.</p><p><b>Introduction</b></p><p>I recently wrote an article highlighting my top 10 stock picks for 2022. I&#39;d already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.</p><p>Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don&#39;t speculate on short-term market movements, but I personally added to my Sea shares recently. It&#39;s one of my only losing positions that I didn&#39;t sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.</p><p>It&#39;s also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it&#39;s the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.</p><p>Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.</p><p><b>Gaming</b></p><p>Sea Limited&#39;s gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.</p><p>The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it&#39;s particularly popular in emerging markets like SEA, LATAM, and India, where it&#39;s been the highest-grossing mobile game for over two years.</p><p>With the game having been popular for a long time already, there&#39;s some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.</p><p>Regardless, Garena is a critical part of Sea because it&#39;s the only profitable segment and it doubles a social platform that provides free advertising for Sea&#39;s non-gaming products. Cross-promotion is a huge competitive advantage for Sea.</p><p>Thus, one reason for Sea&#39;s recent selloff could be the Q4 guidance implied for Garena.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e299727cc28a887a36d88831aec8f53\" tg-width=\"640\" tg-height=\"334\" width=\"100%\" height=\"auto\"/><span>Source: Earnings Call Presentation</span></p><p>In Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.</p><p>While 20% isn&#39;t a terrible deceleration, 0% certainly is. Even 20% growth isn&#39;t spectacular compared to the historic levels. At the 10% midpoint, Garena&#39;s growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).</p><p>Garena&#39;s implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I&#39;ll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today&#39;s market.</p><p>This means Garena is worth $23.5B based on the high end of management&#39;s guidance.</p><p>I believe this valuation is actually conservative for a few reasons:</p><ul><li>Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.</li><li>The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.</li><li>Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.</li><li>Although I&#39;d obviously prefer that Garena develops more games in house, in the meantime it&#39;s still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena&#39;s revenue.</li></ul><p><b>E-Commerce</b></p><p>Sea&#39;s e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.</p><p>There&#39;s always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba&#39;s (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don&#39;t publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn&#39;t published explicit revenue numbers for some countries like Brazil.</p><p>One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/180367a2b64bccebf243c5b6d8fb776a\" tg-width=\"455\" tg-height=\"353\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from Alexa</span></p><p>Shopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6544f014a5d70d13ee14dab0ac8b6782\" tg-width=\"422\" tg-height=\"403\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from AppAnnie</span></p><p>On the mobile side, there&#39;s no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.</p><p>Of course, traffic doesn&#39;t always translate to GMV. But for a shopping app where most people will use the app to buy something, it&#39;s a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It&#39;s Shopee&#39;s dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.</p><p>So why would a company with so much potential sell off?</p><p>After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it&#39;s bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO&#39;s comments that they don&#39;t have a concrete measure of success in these earlier stage countries won&#39;t help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they&#39;re successful, then it could drive even more unexpected growth in the future.</p><p>Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it&#39;s hard to complain when the overall sales increased a lot despite a decrease in basket size.</p><p>The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That&#39;s 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon&#39;s $340B in 2020 e-commerce sales, Shopee looks like it&#39;s just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA&#39;s.</p><p>Despite being in a blue skies industry, it&#39;s more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee&#39;s success is not guaranteed because it&#39;s not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.</p><p>For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it&#39;s difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it&#39;s worth noting that despite being unprofitable, Sea&#39;s Rule of 40 score of 104 is better than most SaaS companies&#39;, and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).</p><p>To understand Shopee&#39;s terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon&#39;s high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.</p><p>If Shopee keeps doubling revenue over the next couple of years (which it&#39;s easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon&#39;s P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.</p><p>Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee&#39;s mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment&#39;s future. I recognize that it&#39;s currently an unprofitable and thus risky segment, but I also see the massive potential.</p><p>So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.</p><p>Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let&#39;s look at the other parts of Sea.</p><p><b>FinTech &amp; Investments</b></p><p>The easiest addition to my computed valuation is Sea&#39;s $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won&#39;t be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.</p><p>Then there is Sea&#39;s FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a &#34;take rate&#34; of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I&#39;m not worried about SeaMoney losing money while it scales.</p><p>Despite SeaMoney being a small segment, it&#39;s now reaching a point where it can be factored into the valuation. Maybe it&#39;s only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea&#39;s sales would today be worth more than the gaming segment. But Sea&#39;s management - combined with Garena&#39;s ability to fund new segments and drive their viral adoption - made it happen. It&#39;s certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.</p><p>If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre&#39;s revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa&#39;s, Mastercard&#39;s (NYSE:MA), and Affirm&#39;s (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies&#39;, but we don&#39;t even need to speculate about what a fair multiple is, since we can reach Sea&#39;s current valuation by using 16x P/S in my model valuation.</p><p>One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started &#34;early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech.&#34; These guys sure know how to hop on the latest high growth trend.</p><p>Finally, there&#39;s the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There&#39;s strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea&#39;s investment arm is very early stage, so I don&#39;t include it in my valuation model. But it doesn&#39;t have to be factored in to justify the current share price. It&#39;s just one more area that might be worth a large part of Sea one day.</p><p><b>Conclusion</b></p><p>Looking at each of Sea&#39;s segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn&#39;t account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea&#39;s business. With the FinTech segment currently growing at 818% year over year, it doesn&#39;t take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.</p><p>This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven&#39;t been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today&#39;s prices. It&#39;s a steep drop for sure, but most companies in today&#39;s market would be looking at such a decline if one were to use the most conservative valuation standards possible.</p><p>Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It&#39;s one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.</p></body></html>","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>Sea Limited Shares Jumped More Than 4% in Morning Trading</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nSea Limited Shares Jumped More Than 4% in Morning Trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-30 23:04</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Sea Limited shares jumped more than 4% in morning trading.</p><p><img src=\"https://static.tigerbbs.com/448dcc7d589843674730e046aa6ef96a\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p><b>Also Read:</b><b>Sea Limited: A Deep Dive To Understand The Recent Selloff</b></p><p><b>Summary</b></p><ul><li>Sea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.</li><li>I dive into each of its segments to understand the recent selloff and justify the current valuation.</li><li>I consider Sea one of my ten highest conviction investments.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aa5cbe0a30acc723a2c6f62300024002\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>kokkai/iStock Unreleased via Getty Images</span></p><p><b>Thesis</b></p><p>A by-parts analysis of Sea Limited&#39;s (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.</p><p><b>Introduction</b></p><p>I recently wrote an article highlighting my top 10 stock picks for 2022. I&#39;d already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.</p><p>Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don&#39;t speculate on short-term market movements, but I personally added to my Sea shares recently. It&#39;s one of my only losing positions that I didn&#39;t sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.</p><p>It&#39;s also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it&#39;s the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.</p><p>Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.</p><p><b>Gaming</b></p><p>Sea Limited&#39;s gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.</p><p>The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it&#39;s particularly popular in emerging markets like SEA, LATAM, and India, where it&#39;s been the highest-grossing mobile game for over two years.</p><p>With the game having been popular for a long time already, there&#39;s some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.</p><p>Regardless, Garena is a critical part of Sea because it&#39;s the only profitable segment and it doubles a social platform that provides free advertising for Sea&#39;s non-gaming products. Cross-promotion is a huge competitive advantage for Sea.</p><p>Thus, one reason for Sea&#39;s recent selloff could be the Q4 guidance implied for Garena.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9e299727cc28a887a36d88831aec8f53\" tg-width=\"640\" tg-height=\"334\" width=\"100%\" height=\"auto\"/><span>Source: Earnings Call Presentation</span></p><p>In Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.</p><p>While 20% isn&#39;t a terrible deceleration, 0% certainly is. Even 20% growth isn&#39;t spectacular compared to the historic levels. At the 10% midpoint, Garena&#39;s growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).</p><p>Garena&#39;s implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I&#39;ll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today&#39;s market.</p><p>This means Garena is worth $23.5B based on the high end of management&#39;s guidance.</p><p>I believe this valuation is actually conservative for a few reasons:</p><ul><li>Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.</li><li>The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.</li><li>Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.</li><li>Although I&#39;d obviously prefer that Garena develops more games in house, in the meantime it&#39;s still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena&#39;s revenue.</li></ul><p><b>E-Commerce</b></p><p>Sea&#39;s e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.</p><p>There&#39;s always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba&#39;s (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don&#39;t publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn&#39;t published explicit revenue numbers for some countries like Brazil.</p><p>One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/180367a2b64bccebf243c5b6d8fb776a\" tg-width=\"455\" tg-height=\"353\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from Alexa</span></p><p>Shopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6544f014a5d70d13ee14dab0ac8b6782\" tg-width=\"422\" tg-height=\"403\" width=\"100%\" height=\"auto\"/><span>Source: The Author, compiled from AppAnnie</span></p><p>On the mobile side, there&#39;s no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.</p><p>Of course, traffic doesn&#39;t always translate to GMV. But for a shopping app where most people will use the app to buy something, it&#39;s a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It&#39;s Shopee&#39;s dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.</p><p>So why would a company with so much potential sell off?</p><p>After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it&#39;s bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO&#39;s comments that they don&#39;t have a concrete measure of success in these earlier stage countries won&#39;t help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they&#39;re successful, then it could drive even more unexpected growth in the future.</p><p>Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it&#39;s hard to complain when the overall sales increased a lot despite a decrease in basket size.</p><p>The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That&#39;s 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon&#39;s $340B in 2020 e-commerce sales, Shopee looks like it&#39;s just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA&#39;s.</p><p>Despite being in a blue skies industry, it&#39;s more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee&#39;s success is not guaranteed because it&#39;s not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.</p><p>For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it&#39;s difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it&#39;s worth noting that despite being unprofitable, Sea&#39;s Rule of 40 score of 104 is better than most SaaS companies&#39;, and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).</p><p>To understand Shopee&#39;s terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon&#39;s high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.</p><p>If Shopee keeps doubling revenue over the next couple of years (which it&#39;s easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon&#39;s P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.</p><p>Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee&#39;s mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment&#39;s future. I recognize that it&#39;s currently an unprofitable and thus risky segment, but I also see the massive potential.</p><p>So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.</p><p>Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let&#39;s look at the other parts of Sea.</p><p><b>FinTech &amp; Investments</b></p><p>The easiest addition to my computed valuation is Sea&#39;s $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won&#39;t be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.</p><p>Then there is Sea&#39;s FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a &#34;take rate&#34; of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I&#39;m not worried about SeaMoney losing money while it scales.</p><p>Despite SeaMoney being a small segment, it&#39;s now reaching a point where it can be factored into the valuation. Maybe it&#39;s only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea&#39;s sales would today be worth more than the gaming segment. But Sea&#39;s management - combined with Garena&#39;s ability to fund new segments and drive their viral adoption - made it happen. It&#39;s certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.</p><p>If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre&#39;s revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa&#39;s, Mastercard&#39;s (NYSE:MA), and Affirm&#39;s (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies&#39;, but we don&#39;t even need to speculate about what a fair multiple is, since we can reach Sea&#39;s current valuation by using 16x P/S in my model valuation.</p><p>One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started &#34;early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech.&#34; These guys sure know how to hop on the latest high growth trend.</p><p>Finally, there&#39;s the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There&#39;s strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea&#39;s investment arm is very early stage, so I don&#39;t include it in my valuation model. But it doesn&#39;t have to be factored in to justify the current share price. It&#39;s just one more area that might be worth a large part of Sea one day.</p><p><b>Conclusion</b></p><p>Looking at each of Sea&#39;s segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn&#39;t account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea&#39;s business. With the FinTech segment currently growing at 818% year over year, it doesn&#39;t take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.</p><p>This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven&#39;t been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today&#39;s prices. It&#39;s a steep drop for sure, but most companies in today&#39;s market would be looking at such a decline if one were to use the most conservative valuation standards possible.</p><p>Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It&#39;s one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106092668","content_text":"Sea Limited shares jumped more than 4% in morning trading.Also Read:Sea Limited: A Deep Dive To Understand The Recent SelloffSummarySea Limited is a highly diversified business firing on all cylinders in some of the fastest-growing economies in the world.I dive into each of its segments to understand the recent selloff and justify the current valuation.I consider Sea one of my ten highest conviction investments.kokkai/iStock Unreleased via Getty ImagesThesisA by-parts analysis of Sea Limited's (NYSE:SE) segments shows that its current valuation is roughly fair, but there are many long-term growth drivers that could surprise to the upside and drive very strong returns for years to come.IntroductionI recently wrote an article highlighting my top 10 stock picks for 2022. I'd already done an in-depth analysis of my other nine picks in other Seeking Alpha articles, so I thought it would be good to close out the year with an article about Sea.Furthermore, with shares down significantly over the past couple of months (but still slightly up for the year), I believe this article may prove timely. I don't speculate on short-term market movements, but I personally added to my Sea shares recently. It's one of my only losing positions that I didn't sell out of temporarily for tax-loss harvesting, and in this article, I will explain why Sea is such a high conviction holding for me.It's also worth noting that many professional investors seem to share this opinion. Sea is the 121st largest company in the world, but it's the16thmost popular holding among hedge funds. This implies that big money is overweight Sea, with 71% of shares held by institutions.Because Sea operates in many different areas, I will do a separate analysis of each of its operating segments to justify its current valuation and explain how that valuation could drive unexpectedly strong returns for years.GamingSea Limited's gaming segment Garena is best known for Free Fire, a mobile battle royale game that was developed in-house.The game was released in 2017 and has been very popular ever since. It currently has the second most monthly active users among all Android games globally. The game is available worldwide, but it's particularly popular in emerging markets like SEA, LATAM, and India, where it's been the highest-grossing mobile game for over two years.With the game having been popular for a long time already, there's some concern that gamers will move on to the next big thing. Although there are some mobile games that are older than Free Fire and still very popular - like Roblox, Clash of Clans, and Pokemon Go - there are many more that have been forgotten. Until Garena releases more games and proves that it can be successful with them too, there will always be questions about whether its studio is a one-hit wonder.Regardless, Garena is a critical part of Sea because it's the only profitable segment and it doubles a social platform that provides free advertising for Sea's non-gaming products. Cross-promotion is a huge competitive advantage for Sea.Thus, one reason for Sea's recent selloff could be the Q4 guidance implied for Garena.Source: Earnings Call PresentationIn Q2 this year, Garena raised its guidance to $4.5B-$4.7B for 2021 bookings (up from $4.3B-$4.5B). With the first three quarters already totaling $3.5B, this implies that Q4 bookings will come in at $1.0B-$1.2B, up between 0% and 20% year over year, and likely down sequentially. This is compared to 29% growth in the most recent quarter and 44% projected growth for the full year.While 20% isn't a terrible deceleration, 0% certainly is. Even 20% growth isn't spectacular compared to the historic levels. At the 10% midpoint, Garena's growth looks more similar to that of a mature company like Activision (NASDAQ:ATVI) or Zynga (NASDAQ:ZNGA) than a fast-growing company like Roblox (NYSE:RBLX).Garena's implied valuation should - and did - suffer as a result. While a fast-growing company like Roblox can command a high double-digit P/S multiple, Activision and Zynga trade at an average P/S multiple of just 4. Garena is slightly more profitable than them and probably has more risk to the upside, so I'll use a P/S multiple of 5 for my implied valuation. This implies a P/E of about 10 for a business growing at around 10%, which is very reasonable in today's market.This means Garena is worth $23.5B based on the high end of management's guidance.I believe this valuation is actually conservative for a few reasons:Next year has tough comps and growth could re-accelerate in the following years or even next year, especially if Garena releases a new hit game. The growth rate past next quarter is not based on explicit guidance from the company, only industry forecasts.The peer valuations I used are from companies also trading at the lower end of their valuation range for the past year.Garena has a good track record and is continuing to invest in Free Fire. One example of this is the recently released Free Fire MAX, which improves the experience for users with higher-end phones and even adds a metaverse-like customizable map called Craftland. To me, this implies that Garena believes Free Fire is still in the earlier part of its lifecycle.Although I'd obviously prefer that Garena develops more games in house, in the meantime it's still not a one-trick pony. In addition to Free Fire, Garena distributes games from third-party developers like Tencent (OTCMKTS:OTCPK:TCEHY). These are popular titles like League of Legends and Call of Duty, which meaningfully diversify Garena's revenue.E-CommerceSea's e-commerce platform Shopee is currently its big growth driver. This platform is often considered the Amazon (NASDAQ:AMZN) of Southeast Asia, and it recently expanded into more markets including Brazil.There's always some debate about who is really the Amazon of a region. Shopee certainly has competition, including from Alibaba's (NYSE:BABA) Lazada, Tokopedia in Indonesia, MercadoLibre (MELI) in Brazil, and even Amazon itself. With most of the competition being private or tucked away into a larger company, many of the competitors don't publish exact revenue numbers, which makes it difficult to measure the competition. Even Sea hasn't published explicit revenue numbers for some countries like Brazil.One neutral source that can be assessed is the Alexa site rank, which as its name suggests ranks sites by their popularity. Keep in mind that these are ranks, so a lower score is better.Source: The Author, compiled from AlexaShopee is very mobile-focused, but the above table only considers the website. To check App Store app ranks for the shopping category, we can use App Annie.Source: The Author, compiled from AppAnnieOn the mobile side, there's no need to look at the competition because Shopee is consistently the number one shopping app in every country listed. In a mobile-first world, this bodes very well. Even on the web side, Shopee wins out except in a few specific regions like LATAM and (barely) Indonesia, which have more local competitors.Of course, traffic doesn't always translate to GMV. But for a shopping app where most people will use the app to buy something, it's a decent proxy. A third party estimates that Shopee accounts for57%of all e-commerce in Southeast Asia. It's Shopee's dominance in the mobile app ranks and market share that make me consider it the Amazon of Southeast Asia.So why would a company with so much potential sell off?After the recent earnings report, some analysts expressed concern that Shopee is branching out into other countries like Poland and Mexico before validating its business model in the current markets. In these countries, Shopee has less of a presence; it's bounced between the 3-5 spots on the Mexico App Store for shopping apps, and between spots 1 and 3 in Poland. Although analysts hate uncertainty - and the CEO's comments that they don't have a concrete measure of success in these earlier stage countries won't help with that - Shopee has a history of entering new countries successfully and I am willing to give management some time to try expanding more. After all, if they're successful, then it could drive even more unexpected growth in the future.Another complaint from analysts was that the basket size (average purchase size) is trending down. While that could also have contributed to the recent selloff, it's hard to complain when the overall sales increased a lot despite a decrease in basket size.The company raised its guidance for e-commerce again in Q3, now guiding for $5.0B-$5.2B in 2021 e-commerce revenue. That's 75%-100% growth in Q4 and about 135% growth for the year. These are much more exciting numbers than the gaming side, although the guidance still implies a slight deceleration in Q4. But compared to Amazon's $340B in 2020 e-commerce sales, Shopee looks like it's just scratched the surface. E-commerce is at only11%penetration in Southeast Asia compared to18.7%in the USA, and Southeast Asia economies are generally growing faster than the USA's.Despite being in a blue skies industry, it's more difficult to value the e-commerce segment because it operates at a loss (whereas the gaming segment is highly profitable). Shopee's success is not guaranteed because it's not clear at this point whether the platform can become profitable while retaining its market share. Stocks like this tend to experience more volatility, which could partially explain the recent selloff.For unprofitable software companies, I like to use the Rule of 40 to assess the business. But it's difficult to apply this rule to a more cyclical e-commerce company with naturally lower margins. Even so, it's worth noting that despite being unprofitable, Sea's Rule of 40 score of 104 is better than most SaaS companies', and also better than e-commerce peers Amazon (21), MercadoLibre (73), and Alibaba (43).To understand Shopee's terminal valuation once it becomes profitable, we can look at industry peers. Amazon is one profitable and slower-growing peer, and it trades at 4x P/S. AWS pushes this number up, but Amazon's high exposure to first-party sales offsets that. Other e-commerce marketplace peers trade at similar valuations: Alibaba at 3x P/S, MercadoLibre at 9x P/S. All of these valuations are basically all-time lows.If Shopee keeps doubling revenue over the next couple of years (which it's easily done every year since 2016), becomes profitable (which scaling up tends to help with), and will have Amazon's P/S multiple in two years, then at 16 P/S today it would trade flat for two years. But if it keeps growing much faster than Amazon over a longer period like a decade, and/or if the overall industry multiples expand to more normal historical levels, then even at 16x P/S this segment has potential upside. On the other hand, if it stops growing or never becomes profitable then investors will be very disappointed at any P/S.Given this wide range of outcomes, each person is going to have their own way of valuing this segment. For me, when I look at Shopee's mobile dominance, relatively small current size, the funding coming in from Garena, and the precedent set by Amazon, Alibaba, and MercadoLibre for the sustainable long-term success of this business model, I am optimistic about this segment's future. I recognize that it's currently an unprofitable and thus risky segment, but I also see the massive potential.So I am happy paying a 16x P/S multiple, which values the e-commerce segment at $83.2B. Some people will call that way too high, and those people will probably never get a chance to invest in this company, for better or for worse.Thus, with just Garena and Shopee, I have Sea being worth $106.7B. Its current market cap is $123.1B. To account for the difference, let's look at the other parts of Sea.FinTech & InvestmentsThe easiest addition to my computed valuation is Sea's $12B cash pile, partially offset by $4B in debt. This adds some nice optionality to the company and ensures that it won't be bankrupt any time soon despite losing money with Shopee. Adding in the $8B cash difference puts my computed valuation at $114.7B, just $8.4B short of the actual valuation.Then there is Sea's FinTech arm, SeaMoney. The main product here is a mobile wallet, which was responsible for $4.6B in payment volume in the last quarter (~$20B over a year). This segment accounted for $132 million in Q3 revenue, up a whopping 818% year over year. This implies a \"take rate\" of 2.9%, which is even better than established FinTech companies like Visa (V). Because of this high take rate, I'm not worried about SeaMoney losing money while it scales.Despite SeaMoney being a small segment, it's now reaching a point where it can be factored into the valuation. Maybe it's only worth a couple of billion, but this is just the start. Five years ago, nobody would have expected that an e-commerce platform accounting for 5% of Sea's sales would today be worth more than the gaming segment. But Sea's management - combined with Garena's ability to fund new segments and drive their viral adoption - made it happen. It's certainly not guaranteed that Sea will have the same success with FinTech, but there is precedent for it.If one day this segment is worth a third or more of Sea (in 2020, FinTech accounted for 36% of MercadoLibre's revenue) then getting it for just 7% of the business today will be well worth it, even if that implies a somewhat high 16x P/S multiple for the segment today. Actually, this multiple is already lower than Visa's, Mastercard's (NYSE:MA), and Affirm's (NASDAQ:AFRM). Realistically, a segment growing at 818% year over year should probably get a higher multiple than these slower-growing companies', but we don't even need to speculate about what a fair multiple is, since we can reach Sea's current valuation by using 16x P/S in my model valuation.One way this segment could grow even more is through the introduction of more products besides the mobile wallet. Sea noted in their recent earnings that they have started \"early initiatives in other digital financial services such as buy now pay later, digital bank, and insurtech.\" These guys sure know how to hop on the latest high growth trend.Finally, there's the investments arm. Sea is investing in early-stage tech companies, especially in Southeast Asia. There's strong precedent for companies like Tencent (which is itself an investor in Sea) and Shopify (NYSE:SHOP) managing successful investment portfolios that ultimately factor meaningfully into their valuation. Right now Sea's investment arm is very early stage, so I don't include it in my valuation model. But it doesn't have to be factored in to justify the current share price. It's just one more area that might be worth a large part of Sea one day.ConclusionLooking at each of Sea's segments, my valuation model indicates that Sea is fairly valued today. However, my model doesn't account for the significant optionality of the newer segments. Just like e-commerce did over the last five years, FinTech (and/or investments) could grow to become a very large part of Sea's business. With the FinTech segment currently growing at 818% year over year, it doesn't take much imagination to see how this happens. Just another year or two of growth at something close to that rate will make the FinTech arm impossible for investors to ignore.This optionality combined general strength in each business has allowed Sea to post an average revenue beat of 7% over the past year. Earnings haven't been as strong, and I expect that to be the main point of contention with my valuation model, as is the case for most unprofitable companies. In particular, I expect some readers will disagree with my valuation of the e-commerce segment. But even if you drop e-commerce all the way down to 5x P/S (a multiple seen today by much slower growing e-commerce companies) that implies 54% downside from today's prices. It's a steep drop for sure, but most companies in today's market would be looking at such a decline if one were to use the most conservative valuation standards possible.Only fast-growing companies like Sea can quickly offset such a decline with revenue growth. As a result, the businesses with the most long-term potential will hardly ever trade at the most conservative valuation possible. And Sea certainly has long-term potential. It's one of the few high-growth companies I own that I could see reaching a trillion-dollar market cap this decade.","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":1813,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":692653769,"gmtCreate":1640951311424,"gmtModify":1640951346970,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"To the moon!!!","listText":"To the moon!!!","text":"To the moon!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/692653769","repostId":"1109303330","repostType":2,"repost":{"id":"1109303330","kind":"news","pubTimestamp":1640944353,"share":"https://www.laohu8.com/m/news/1109303330?lang=&edition=full","pubTime":"2021-12-31 17:52","market":"us","language":"en","title":"How Will Tesla Stock Do in 2022?","url":"https://stock-news.laohu8.com/highlight/detail?id=1109303330","media":"Barrons","summary":"Tesla’s fourth-quarter delivery figures, expected shortly after the world rings in the New Year, are likely to be the first 2022 data point investors can use to assess the outlook for the stock. Peopl","content":"<html><head></head><body><p>Tesla’s fourth-quarter delivery figures, expected shortly after the world rings in the New Year, are likely to be the first 2022 data point investors can use to assess the outlook for the stock. People who are bullish on the electric-vehicle maker expect a lot.</p><p>Tesla (ticker: TSLA) typically discloses its delivery figures on the second day of a quarter, regardless of weekends. That means the fourth-quarter numbers are likely to land on Sunday, Jan. 2. though it is possible they could arrive Monday because of the New Year holiday.</p><p>The Wall Street consensus, according to FactSet, calls for 267,000 vehicle deliveries. That would be a record and up from the 241,300 delivered in the third quarter of 2020. The Wall Street consensus figure aggregated by Tesla itself calls for about 266,000 deliveries.</p><p>The company will need to do better than that to keep the stock moving higher because the not-so-secret secret about Wall Street estimates is that they tend to be low. Investors, companies, and analysts all feel better when companies beat estimates.</p><p>The so-called whisper number for fourth-quarter Tesla deliveries is probably somewhere between 275,000 and 285,000 units. A number in that range would be a good outcome, while anything higher would be excellent.</p><p>If the numbers are strong, it typically means good things for the stock going into the release of Tesla’s earnings. Tesla shares have outperformed the S&amp;P 500 seven of the past nine times in the span between when management reports deliveries and discloses the quarterly earnings. The financial results come about three or four weeks after the delivery numbers.</p><p>Tesla needs to deliver 272,650 vehicles to hit 900,000 for all of 2021. That would be quite an accomplishment, given that Tesla delivered about 500,000 vehicles in 2020.</p><p>In 2022, Wall Street is currently projecting deliveries of about 1.42 million vehicles, including 296,000 in the first quarter. That would amount to another year of big growth. Tesla has two new manufacturing facilities, in Texas and Germany, that will be ramping up production early in 2022. The ability for Tesla to sell all that is coming out of its factories will be a big swing factor for the stock in 2022.</p><p>The stock did just fine in 2021 after rising 743% in 2022. As of Thursday, Tesla stock was up more than 50% in 2021, far better than the comparable returns of the S&amp;P 500 and Dow Jones Industrial Average.</p><p>It has been another profitable, yet wild, year for Tesla investors. Tesla stock was at $1,070.34 as of the close of trading on Thursday. The stock’s 52-week low was back in March at less than $540.</p></body></html>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Will Tesla Stock Do in 2022?</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHow Will Tesla Stock Do in 2022?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-31 17:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-stock-deliveries-outlook-2022-51640898832?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla’s fourth-quarter delivery figures, expected shortly after the world rings in the New Year, are likely to be the first 2022 data point investors can use to assess the outlook for the stock. ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-stock-deliveries-outlook-2022-51640898832?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/tesla-stock-deliveries-outlook-2022-51640898832?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109303330","content_text":"Tesla’s fourth-quarter delivery figures, expected shortly after the world rings in the New Year, are likely to be the first 2022 data point investors can use to assess the outlook for the stock. People who are bullish on the electric-vehicle maker expect a lot.Tesla (ticker: TSLA) typically discloses its delivery figures on the second day of a quarter, regardless of weekends. That means the fourth-quarter numbers are likely to land on Sunday, Jan. 2. though it is possible they could arrive Monday because of the New Year holiday.The Wall Street consensus, according to FactSet, calls for 267,000 vehicle deliveries. That would be a record and up from the 241,300 delivered in the third quarter of 2020. The Wall Street consensus figure aggregated by Tesla itself calls for about 266,000 deliveries.The company will need to do better than that to keep the stock moving higher because the not-so-secret secret about Wall Street estimates is that they tend to be low. Investors, companies, and analysts all feel better when companies beat estimates.The so-called whisper number for fourth-quarter Tesla deliveries is probably somewhere between 275,000 and 285,000 units. A number in that range would be a good outcome, while anything higher would be excellent.If the numbers are strong, it typically means good things for the stock going into the release of Tesla’s earnings. Tesla shares have outperformed the S&P 500 seven of the past nine times in the span between when management reports deliveries and discloses the quarterly earnings. The financial results come about three or four weeks after the delivery numbers.Tesla needs to deliver 272,650 vehicles to hit 900,000 for all of 2021. That would be quite an accomplishment, given that Tesla delivered about 500,000 vehicles in 2020.In 2022, Wall Street is currently projecting deliveries of about 1.42 million vehicles, including 296,000 in the first quarter. That would amount to another year of big growth. Tesla has two new manufacturing facilities, in Texas and Germany, that will be ramping up production early in 2022. The ability for Tesla to sell all that is coming out of its factories will be a big swing factor for the stock in 2022.The stock did just fine in 2021 after rising 743% in 2022. As of Thursday, Tesla stock was up more than 50% in 2021, far better than the comparable returns of the S&P 500 and Dow Jones Industrial Average.It has been another profitable, yet wild, year for Tesla investors. Tesla stock was at $1,070.34 as of the close of trading on Thursday. The stock’s 52-week low was back in March at less than $540.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":2526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696285430,"gmtCreate":1640703584824,"gmtModify":1640703585404,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"To the moon","listText":"To the moon","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/696285430","repostId":"1121218775","repostType":4,"repost":{"id":"1121218775","kind":"news","pubTimestamp":1640699058,"share":"https://www.laohu8.com/m/news/1121218775?lang=&edition=full","pubTime":"2021-12-28 21:44","market":"us","language":"en","title":"Apple Stock Set to Rise for a Fifth Day — But It Still Can’t Crack $3 Trillion Market Cap","url":"https://stock-news.laohu8.com/highlight/detail?id=1121218775","media":"Barrons","summary":"Apple was on track for a fifth consecutive positive trading session on Tuesday, just a day after it ","content":"<p>Apple&nbsp;was on track for a fifth consecutive positive trading session on Tuesday, just a day after it closed at its 24th record high for the year.</p>\n<p>As the stock climbs, it edges closer to becoming the first publicly traded company with a $3 trillion valuation.</p>\n<p>Analysts have said the stock could rally even further in 2022&nbsp;as the tech giant continues to grow across all business segments and releases new products, such as a virtual/augmented reality headset.</p>\n<p>Shares of Apple (ticker:AAPL) were up 0.4% to $181.03 in premarket trading Tuesday. The stock’s intraday high for the year is $182.13, which it reached earlier in December.</p>\n<p>Investors seemed unfazed by the company’s announcement Monday afternoon to close New York City stores to shoppers following a Covid-19 spike. The stores were open for pickup only, meaning customers could buy products online and pick them up at the store, Apple told <i>Barron’s.</i></p>\n<p>Apple didn’t say when its New York stores might reopen.</p>\n<p>The stock gained 2.3% Monday, closing at a record high, and has risen 35.9% this year. It ended the session with a market capitalization of $2.9 trillion.</p>\n<p>The&nbsp;S&amp;P 500&nbsp;was up 27.6% during the same time period, and the tech-heavy&nbsp;Nasdaq&nbsp;has gained 23.1%.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock Set to Rise for a Fifth Day — But It Still Can’t Crack $3 Trillion Market Cap</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nApple Stock Set to Rise for a Fifth Day — But It Still Can’t Crack $3 Trillion Market Cap\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-28 21:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/apple-stock-price-market-cap-51640696713?mod=hp_LATEST&tesla=y><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Apple was on track for a fifth consecutive positive trading session on Tuesday, just a day after it closed at its 24th record high for the year.\nAs the stock climbs, it edges closer to becoming the ...</p>\n\n<a href=\"https://www.barrons.com/articles/apple-stock-price-market-cap-51640696713?mod=hp_LATEST&tesla=y\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-stock-price-market-cap-51640696713?mod=hp_LATEST&tesla=y","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121218775","content_text":"Apple was on track for a fifth consecutive positive trading session on Tuesday, just a day after it closed at its 24th record high for the year.\nAs the stock climbs, it edges closer to becoming the first publicly traded company with a $3 trillion valuation.\nAnalysts have said the stock could rally even further in 2022 as the tech giant continues to grow across all business segments and releases new products, such as a virtual/augmented reality headset.\nShares of Apple (ticker:AAPL) were up 0.4% to $181.03 in premarket trading Tuesday. The stock’s intraday high for the year is $182.13, which it reached earlier in December.\nInvestors seemed unfazed by the company’s announcement Monday afternoon to close New York City stores to shoppers following a Covid-19 spike. The stores were open for pickup only, meaning customers could buy products online and pick them up at the store, Apple told Barron’s.\nApple didn’t say when its New York stores might reopen.\nThe stock gained 2.3% Monday, closing at a record high, and has risen 35.9% this year. It ended the session with a market capitalization of $2.9 trillion.\nThe S&P 500 was up 27.6% during the same time period, and the tech-heavy Nasdaq has gained 23.1%.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":2471,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696943332,"gmtCreate":1640609656289,"gmtModify":1640609656931,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/696943332","repostId":"2194051471","repostType":2,"isVote":1,"tweetType":1,"viewCount":3217,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":696943952,"gmtCreate":1640609649463,"gmtModify":1640609650111,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Buy","listText":"Buy","text":"Buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/696943952","repostId":"2194051471","repostType":2,"isVote":1,"tweetType":1,"viewCount":1979,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698700794,"gmtCreate":1640521643730,"gmtModify":1640521644364,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698700794","repostId":"2194174808","repostType":2,"isVote":1,"tweetType":1,"viewCount":3158,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698700436,"gmtCreate":1640521637667,"gmtModify":1640521638294,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Lijed","listText":"Lijed","text":"Lijed","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/698700436","repostId":"2194174808","repostType":2,"isVote":1,"tweetType":1,"viewCount":2743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698700349,"gmtCreate":1640521523176,"gmtModify":1640521523832,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Liked","listText":"Liked","text":"Liked","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/698700349","repostId":"1123414772","repostType":2,"repost":{"id":"1123414772","kind":"news","pubTimestamp":1640483546,"share":"https://www.laohu8.com/m/news/1123414772?lang=&edition=full","pubTime":"2021-12-26 09:52","market":"us","language":"en","title":"Why It’s Not the Time to Buy the Dip on Upstart","url":"https://stock-news.laohu8.com/highlight/detail?id=1123414772","media":"InvestorPlace","summary":"Upstart (UPST)as a concept is extraordinary in my eyes because it assigns credit ratings with a much","content":"<div>\n<p>Upstart (UPST)as a concept is extraordinary in my eyes because it assigns credit ratings with a much more forward-looking approach than traditional loan facilitators do. Furthermore, the AI used by ...</p>\n\n<a href=\"https://investorplace.com/2021/12/upst-stock-upstart-why-its-not-the-time-to-buy-the-dip/\">Web Link</a>\n\n</div>\n","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why It’s Not the Time to Buy the Dip on Upstart</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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 It’s Not the Time to Buy the Dip on Upstart\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-26 09:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/12/upst-stock-upstart-why-its-not-the-time-to-buy-the-dip/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Upstart (UPST)as a concept is extraordinary in my eyes because it assigns credit ratings with a much more forward-looking approach than traditional loan facilitators do. Furthermore, the AI used by ...</p>\n\n<a href=\"https://investorplace.com/2021/12/upst-stock-upstart-why-its-not-the-time-to-buy-the-dip/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UPST":"Upstart Holdings, Inc."},"source_url":"https://investorplace.com/2021/12/upst-stock-upstart-why-its-not-the-time-to-buy-the-dip/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123414772","content_text":"Upstart (UPST)as a concept is extraordinary in my eyes because it assigns credit ratings with a much more forward-looking approach than traditional loan facilitators do. Furthermore, the AI used by the firm is flawless, with speed and accuracy being the name of the game.\nHowever, as an investor, it’s critical to remind yourself that you’re investing in a stock and not only the company’s concept, which means that we need to determine whether its potential is priced-in or not.\nNext year’s market climate will be much different than it’s been the past 2-years. I, for one, expect a more price-efficient market, which means that investors will need to start distinguishing good companies from undervalued stock prices if they’re to realize gains.\nUPST stock could be a prime example of how a good company doesn’t always translate into a good stock.\nUPST stock Won’t Benefit From the Cyclical Trade\nMost of you would’ve heard about the rate hike buzz by now and how that will stimulate banking stocks. The theory behind this is that if the U.S. Federal Reserve raises interest rates, the debt market will be more lucrative to originators as the spreads they’d be able to charge on loans will increase.\nUpstart won’t necessarily benefit from this climate as it’s considered a hybrid between an advertising platform and a brokerage rather than a lender. This means that its revenue will actually decrease with higher rates because the transactional volume will likely taper off slightly as soon as rates rise.\nFurther to the above, Upstart is a growth stock rather than a value play. Rising interest rates in 2022 could be detrimental to growth stocks as it tends to flatline their exponential earnings growth curve.\nUpstart’s revenue and EBITDA surged over the past year, coming in at187.56% and 447.28%respectively; these figures will likely diminish over the coming year, and I can’t help but think that the stock’s recent drawdown has been the market’s way of pricing in the expected decline in growth for next year.\nA final matter to mention regarding cyclicality isJ.P. Morgan’s recent neutral rating on the stock, with analyst James Faucette using a similar argument to mine in claiming that the stock’s growth has been priced in for now. Faucette thinks that Upstart’s relationship with its investors has enabled it to perform well in 2021, but the current market climate won’t allow that to sustain itself.\nValuation & Momentum\nLet’s start with the latter to provide context to the valuation argument. Upstart’s relative strength index (RSI) is below30, indicating that the stock has been oversold, but this doesn’t necessarily mean that it’s a “buy the dip opportunity.”\nFor this to really be a buy low, sell high opportunity, we’d need to see an uptick in volume and a sign that the stock’s going to breach its moving averages; as of now UPST stock possesses neither of these attributes, and I believe that it’s due to a valuation issue.\nHere’s the big valuation problem; by comparing Upstart stock to its sector peers, it can be observed through price-sales and price-cash flow premiums of3.47x and 4.46xthat investors have gotten ahead of themselves. Adding to this is the argument that the stock could be the victim of a cyclical downturn, meaning that these ratios could play a key role in investor sell-offs moving forward.\nWhat now for UPST stock?\nA few investors are likely to buy into the recent dip, but I don’t think it will prevent a further downward trajectory. UPST stock has a massive valuation issue induced by over-optimism from investors during a pent-up broader market.\nFurthermore, the market’s set for a cyclical swing as monetary policy changes are en route, and Upstart stock’s characteristics mean that it could be a victim of such policies instead of being a beneficiary.\nThe bottom line is that the stock isn’t worth the risk right now.","news_type":1,"symbols_score_info":{"UPST":0.9}},"isVote":1,"tweetType":1,"viewCount":803,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698876409,"gmtCreate":1640354431308,"gmtModify":1640354431980,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like&nbsp;","listText":"Like&nbsp;","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/698876409","repostId":"1125638714","repostType":2,"repost":{"id":"1125638714","kind":"news","pubTimestamp":1640328863,"share":"https://www.laohu8.com/m/news/1125638714?lang=&edition=full","pubTime":"2021-12-24 14:54","market":"us","language":"en","title":"Tesla to pull plug on letting drivers play video games after federal investigation","url":"https://stock-news.laohu8.com/highlight/detail?id=1125638714","media":"CNN Business","summary":"New York (CNN Business)Tesla reversed course Thursday and will no longer allow video games to be pla","content":"<p>New York (CNN Business)Tesla reversed course Thursday and will no longer allow video games to be played on its cars' touchscreens when they are in motion, bowing to an investigation of the feature by federal safety regulators.</p>\n<p>\"Following the opening of a preliminary evaluation of Tesla's 'Passenger Play,' Tesla informed the agency that it is changing the functionality of this feature,\" said a statement from a National Highway Traffic Safety Administration spokesperson late Thursday. \"In a new software update, 'Passenger Play' will now be locked and unusable when the vehicle is in motion.\"</p>\n<p>The documentation for the investigation, disclosed Wednesday by the NHTSA, said the feature, known as \"Passenger Play,\" has been available to drivers since December 2020. The games appear on the large touchscreen in the center of the dashboard. While the name suggests it is intended to be played by passengers, nothing prevented drivers from playing while the car is being driven, according to the documentation associated with the investigation.</p>\n<p>Prior to December 2020, gameplay was enabled only when the vehicle was in park, the NHTSA investigation document said. Even if the game is being played by a passenger and not the driver, it \"may distract the driver and increase the risk of a crash,\" according to NHTSA.</p>\n<p>The agency's investigation generated widespread media coverage on Thursday ahead of Tesla's agreement to change the games' settings.</p>\n<p>\"NHTSA constantly assesses how manufacturers identify and safeguard against distraction hazards that may arise due to faults, misuse, or intended use of convenience technologies, including infotainment screens,\" the agency said.</p>\n<p>Tesla has been pushing the envelope in providing driver assist features that allow its cars to slow down, speed up, and even change lanes without active participation from the driver.</p>\n<p>The company cautions that drivers using such features, known as \"Autopilot\" and \"FSD,\" for full-self driving, must stay alert and keep their hands on the wheel. But Tesla has been criticized for making it easier for drivers to not pay attention, as well as for a number of crashes involving cars in Autopilot mode.</p>\n<p>The NHTSA is currently investigating Tesla for at least 11 accidents involving cars using its Autopilot or other self-driving features that collided with emergency vehicles when coming upon the scene of an earlier crash. Those 11 accidents were responsible for 17 injuries and one death, according to the agency.</p>\n<p>US regulators are highlighting distracted driving as a major safety hazard on American roads. NHTSA estimates that 3,142 people were killed in accidents involving distracted drivers in 2019.</p>\n<p>The Passenger Play probe started following a complaint filed in November by an unidentified Tesla owner. The complaint said that the feature allows video game play and web browsing while the car is being driven.</p>\n<p>\"The video games are allegedly restricted only to passengers. Web browsing is available to anyone at any time,\" said the complaint. \"Why is a manufacturer allowed to create an inherently distracting live video which takes over 2/3 of the screen which the driver relies on for all vehicle information? NHTSA needs to prohibit all live video in the front seat and all live interactive web browsing while the car is in motion. Creating a dangerous distraction for the driver is recklessly negligent.\"</p>\n<p>Tesla (TSLA), which rarely responds to questions from the media, did not respond to a request for comment on the probe or the video game feature.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla to pull plug on letting drivers play video games after federal investigation</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla to pull plug on letting drivers play video games after federal investigation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-24 14:54 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://edition.cnn.com/2021/12/23/tech/tesla-safety-probe-drivers-play-video-games/index.html><strong>CNN Business</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New York (CNN Business)Tesla reversed course Thursday and will no longer allow video games to be played on its cars' touchscreens when they are in motion, bowing to an investigation of the feature by ...</p>\n\n<a href=\"https://edition.cnn.com/2021/12/23/tech/tesla-safety-probe-drivers-play-video-games/index.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://edition.cnn.com/2021/12/23/tech/tesla-safety-probe-drivers-play-video-games/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125638714","content_text":"New York (CNN Business)Tesla reversed course Thursday and will no longer allow video games to be played on its cars' touchscreens when they are in motion, bowing to an investigation of the feature by federal safety regulators.\n\"Following the opening of a preliminary evaluation of Tesla's 'Passenger Play,' Tesla informed the agency that it is changing the functionality of this feature,\" said a statement from a National Highway Traffic Safety Administration spokesperson late Thursday. \"In a new software update, 'Passenger Play' will now be locked and unusable when the vehicle is in motion.\"\nThe documentation for the investigation, disclosed Wednesday by the NHTSA, said the feature, known as \"Passenger Play,\" has been available to drivers since December 2020. The games appear on the large touchscreen in the center of the dashboard. While the name suggests it is intended to be played by passengers, nothing prevented drivers from playing while the car is being driven, according to the documentation associated with the investigation.\nPrior to December 2020, gameplay was enabled only when the vehicle was in park, the NHTSA investigation document said. Even if the game is being played by a passenger and not the driver, it \"may distract the driver and increase the risk of a crash,\" according to NHTSA.\nThe agency's investigation generated widespread media coverage on Thursday ahead of Tesla's agreement to change the games' settings.\n\"NHTSA constantly assesses how manufacturers identify and safeguard against distraction hazards that may arise due to faults, misuse, or intended use of convenience technologies, including infotainment screens,\" the agency said.\nTesla has been pushing the envelope in providing driver assist features that allow its cars to slow down, speed up, and even change lanes without active participation from the driver.\nThe company cautions that drivers using such features, known as \"Autopilot\" and \"FSD,\" for full-self driving, must stay alert and keep their hands on the wheel. But Tesla has been criticized for making it easier for drivers to not pay attention, as well as for a number of crashes involving cars in Autopilot mode.\nThe NHTSA is currently investigating Tesla for at least 11 accidents involving cars using its Autopilot or other self-driving features that collided with emergency vehicles when coming upon the scene of an earlier crash. Those 11 accidents were responsible for 17 injuries and one death, according to the agency.\nUS regulators are highlighting distracted driving as a major safety hazard on American roads. NHTSA estimates that 3,142 people were killed in accidents involving distracted drivers in 2019.\nThe Passenger Play probe started following a complaint filed in November by an unidentified Tesla owner. The complaint said that the feature allows video game play and web browsing while the car is being driven.\n\"The video games are allegedly restricted only to passengers. Web browsing is available to anyone at any time,\" said the complaint. \"Why is a manufacturer allowed to create an inherently distracting live video which takes over 2/3 of the screen which the driver relies on for all vehicle information? NHTSA needs to prohibit all live video in the front seat and all live interactive web browsing while the car is in motion. Creating a dangerous distraction for the driver is recklessly negligent.\"\nTesla (TSLA), which rarely responds to questions from the media, did not respond to a request for comment on the probe or the video game feature.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1266,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691349857,"gmtCreate":1640141043394,"gmtModify":1640141044017,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"To the moon!!!","listText":"To the moon!!!","text":"To the moon!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691349857","repostId":"1122685744","repostType":4,"repost":{"id":"1122685744","kind":"news","pubTimestamp":1640139942,"share":"https://www.laohu8.com/m/news/1122685744?lang=&edition=full","pubTime":"2021-12-22 10:25","market":"us","language":"en","title":"Why Tesla Stock Jumped on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1122685744","media":"Motley Fool","summary":"What happened\nShares of Tesla(NASDAQ:TSLA)jumped on Tuesday, rising 4.29% today.\nThe stock's gain wa","content":"<p>What happened</p>\n<p>Shares of&nbsp;<b>Tesla</b>(NASDAQ:TSLA)jumped on Tuesday, rising 4.29% today.</p>\n<p>The stock's gain was likely primarily driven by an upbeat day in the overall market -- especially for&nbsp;growth stocks&nbsp;like Tesla.</p>\n<p>So what</p>\n<p>Capturing optimism in the overall market on Tuesday, the&nbsp;<b>S&amp;P 500</b>&nbsp;was up 1.78% today. The tech-heavy&nbsp;<b>Nasdaq Composite</b>, however, was up 2.4%. Many growth stocks like Tesla were up several percentage points or more, rebounding some from a sharp sell-off earlier this month.</p>\n<p>Tesla stock's gain today represents a bit of a rebound from a steep sell-off recently. Even including today's gain, the stock has slid 25% from a high of more than $1,243 just a few months ago.</p>\n<p>Now what</p>\n<p>As the year wraps up, Tesla investors have the company's&nbsp;fourth-quarter vehicle deliveries&nbsp;to look forward to. While the challenging global supply chain and logistics environment that Tesla is operating in makes it difficult to forecast the quarter, analysts are expecting record deliveries during the period. But a wide range of outcomes are possible.</p>\n<p>Tesla delivered 241,391 vehicles in its third quarter, representing 73% year-over-year growth. For the current quarter, analysts generally expect 260,000 or more deliveries. This would put total deliveries for the year at over 887,000 -- far higher than the 500,000 vehicles the company delivered in 2020.</p>\n<p>The company usually posts its quarterly deliveries within three calendar days of each quarter's end, or somewhere around Jan. 1 to Jan. 3 for Tesla's Q4.</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 Tesla Stock Jumped on Tuesday</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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 Tesla Stock Jumped on Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-22 10:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/12/21/why-tesla-stock-jumped-on-tuesday/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What happened\nShares of Tesla(NASDAQ:TSLA)jumped on Tuesday, rising 4.29% today.\nThe stock's gain was likely primarily driven by an upbeat day in the overall market -- especially for growth stocks ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/12/21/why-tesla-stock-jumped-on-tuesday/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/12/21/why-tesla-stock-jumped-on-tuesday/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122685744","content_text":"What happened\nShares of Tesla(NASDAQ:TSLA)jumped on Tuesday, rising 4.29% today.\nThe stock's gain was likely primarily driven by an upbeat day in the overall market -- especially for growth stocks like Tesla.\nSo what\nCapturing optimism in the overall market on Tuesday, the S&P 500 was up 1.78% today. The tech-heavy Nasdaq Composite, however, was up 2.4%. Many growth stocks like Tesla were up several percentage points or more, rebounding some from a sharp sell-off earlier this month.\nTesla stock's gain today represents a bit of a rebound from a steep sell-off recently. Even including today's gain, the stock has slid 25% from a high of more than $1,243 just a few months ago.\nNow what\nAs the year wraps up, Tesla investors have the company's fourth-quarter vehicle deliveries to look forward to. While the challenging global supply chain and logistics environment that Tesla is operating in makes it difficult to forecast the quarter, analysts are expecting record deliveries during the period. But a wide range of outcomes are possible.\nTesla delivered 241,391 vehicles in its third quarter, representing 73% year-over-year growth. For the current quarter, analysts generally expect 260,000 or more deliveries. This would put total deliveries for the year at over 887,000 -- far higher than the 500,000 vehicles the company delivered in 2020.\nThe company usually posts its quarterly deliveries within three calendar days of each quarter's end, or somewhere around Jan. 1 to Jan. 3 for Tesla's Q4.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":858,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693799882,"gmtCreate":1640074186071,"gmtModify":1640074186644,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Gg","listText":"Gg","text":"Gg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693799882","repostId":"1181908837","repostType":4,"repost":{"id":"1181908837","kind":"news","pubTimestamp":1640063718,"share":"https://www.laohu8.com/m/news/1181908837?lang=&edition=full","pubTime":"2021-12-21 13:15","market":"us","language":"en","title":"Sea Limited: Beware The Illusions Of Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1181908837","media":"Seeking Alpha","summary":"Summary\n\nSea Limited has been one of the top sought-after pandemic plays. Both of its two engines - ","content":"<p>Summary</p>\n<ul>\n <li>Sea Limited has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures.</li>\n <li>The uniqueness of SE, the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to it. But these dynamics have changed.</li>\n <li>The e-commerce unit's EBITDA is getting more negative by the quarter amid a shrinking GMV per order trend.</li>\n <li>The profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to \"subsidize\" the e-commerce and fintech arms would diminish further.</li>\n <li>Analysts are projecting a persistent revenue growth slowdown in the coming quarters and years.</li>\n</ul>\n<p>Investment thesis</p>\n<p>Sea Limited(NYSE:SE)has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures such as study/work-from-home. SE stock was already a solid performer pre-COVID, with gains surpassing that of its Chinese peer, Tencent Holdings (OTCPK:TCEHY) (OTCPK:TCTZF), and Latin American peer, MercadoLibre Inc. (MELI).</p>\n<p>Over the past three years, Sea Ltd. has seen its share price soar more than 3000 percent. After recent declines, SE stock is still up over 17 times from late December 2018. In the same period MELI stock is up 2.8 times while TCEHY stock is up only 47 percent.</p>\n<p>Strictly speaking, Sea Limited doesn't have an equivalent among the large internet companies. Its gaming business is highly profitable, enabling it to fund its heavily loss-making e-commerce and fintech units. MercadoLibre hosts the largest online commerce and payments ecosystem in Latin America and it doesn't count gaming as a core business.</p>\n<p>Tencent is big in gaming and fintech but its e-commerce ambitions are mostly manifested through its investments in related companies. Alibaba Group Holding (BABA) is huge in e-commerce and fintech but gaming is not a meaningful division on its own.</p>\n<p>Sea Limited's peers in Southeast Asia are also having different backgrounds. Grab Holdings Limited (GRAB) started as a ride-hailing platform and subsequently branched into fintech and on-demand delivery including groceries. Indonesia's GoTo Group (GOTO) is formed from the merger of the two largest startups in the country - ride-hailing giant Gojek and e-commerce company Tokopedia.</p>\n<p>Thus, the uniqueness of Sea Limited, particularly the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to this tech firm halfway around the globe from the U.S. However, the growth at its gaming unit, Garena, which the company categorizes as Digital Entertainment, registered a dramatic slowdown in the third quarter of 2021.</p>\n<p>Although the gross orders and GMV metrics are still showing healthy growth, the e-commerce unit's EBITDA is getting more negative by the quarter. The total adjusted EBITDA for Sea Limited has flipped to negative this year. In other words, the profitable gaming business is no longer able to offset the escalating losses from the e-commerce and digital financial services divisions.</p>\n<p>At the same time, share-based compensation continues to rise steadily. Competition in the region is also heating up, with GRAB coming to public view following its merger with a SPAC, and GoTo Group eager to show solid growth figures in the&nbsp;prelude&nbsp;to its IPO.</p>\n<p>Hence, while I'm late to the warning party, with the SE stock down 42 percent from its recent peak, the steepest fall since it became publicly traded, I believe there could be further downside over the months ahead.</p>\n<p>Thus, the motivation of this article is to delve deeper into the seemingly incomplete picture provided by the results presentations to understand the health of Sea Limited's e-commerce business. I will also highlight the ballooning losses as the divisions named E-Commerce and Digital Financial Services scale up.</p>\n<p>GMV growth tells only a partial (and possibly erroneous) story</p>\n<p>Sea Limited's e-commerce arm, Shopee, has successfully increased its gross orders from 0.6 billion in 2Q 2020 to 1.7 billion in 3Q 2021, nearly tripling during the interval. Shopee's gross merchandise value (GMV) more than doubled from US$8.0 billion in 2Q 2020 to US$16.8 billion in 3Q 2021.<img src=\"https://static.tigerbbs.com/c762afa3d2ab4131c56afe6ee34fdb07\" tg-width=\"652\" tg-height=\"328\" width=\"100%\" height=\"auto\">While the growth figures look all fantastic, we need to understand the gross order numbers have been increasing at a faster pace than the GMV. In other words, the value per transaction has been declining steadily. The GMV per gross order has fallen from $13.3 in Q3 2020 to $9.9 in Q3 2021. I estimated this to reduce further to around $9.3 for the final quarter of 2021 if the trend continues.<img src=\"https://static.tigerbbs.com/aac28723c01b836c9673b49744926e09\" tg-width=\"652\" tg-height=\"391\" width=\"100%\" height=\"auto\">A smaller value per order may help Shopee gain from transaction-based fees. However, it's hard to see how the rising prevalence of lower value items helps with monetizing value-added services and advertising revenue over the long run.</p>\n<p>For now, Shopee is still reporting healthy monetization, with GAAP revenue as a percentage of total GMV rising to 8.6 percent from 6.7 percent in the third quarter of 2020. GAAP e-commerce revenue grew 134 percent from last year to reach $1.5 billion.</p>\n<p>To reverse the shrinking GMV per order trend, Shopee would need to sell larger ticket items like luxury products. Shopee recognizes this and it launched Shopee Premium, a delicate section on Shopee for select brand partners in the luxury segment, a year ago.</p>\n<p>It remains to be seen if Shopee can improve the user experience sufficiently to entice users to shop luxury items on its app. In its present form, based on my experience and the feedback I gathered from friends, navigation on the Shopee app can be frustrating at times and the product information page leaves much to be desired.</p>\n<p>Nonetheless, we are flocking to Shopee for the great bargains offered on the platform. There are plenty of deeply discounted items during \"flash sales\" periods, which have become increasingly prevalent. Would users return to Shopee when it stops being aggressive on promotions and if competing platforms turn on their respective campaigns?</p>\n<p>Unless the luxury products are heavily discounted, I question why users would buy on Shopee otherwise, at least based on the current interface. Then again, luxury brands wouldn't want to sully their image with steep offers on Shopee, or Shopee Premium, for that matter.</p>\n<p>A lower GMV per transaction would also imply that Shopee's operating cost could be rising, considering the larger bandwidth and processing efforts required in handling the growing orders.</p>\n<p>Losses keep ballooning, share-based compensation keeps rising</p>\n<p>GAAP e-commerce revenue growth is healthy and even outpacing the GMV growth. That means Sea Limited's Shopee is increasing its monetization. However, is all well and good?</p>\n<p>Sea Limited's total revenues have risen rapidly over the past years, but so have its losses. Just looking at the cost of revenues and total operating expenses, these have soared, growing exponentially in recent years. If we just obsess with growing sales at all costs, then we can ignore the escalating losses.</p>\n<p><img src=\"https://static.tigerbbs.com/7ef17a9a9a279c55673ba39f1dd74577\" tg-width=\"625\" tg-height=\"418\" width=\"100%\" height=\"auto\">However, can shareholders be comfortable with the skyrocketing losses over another few years? Sea Limited looks set to end 2021 with a larger loss than last year, which already saw a substantially higher loss than 2019. One major driver of this is the inability of the Digital Entertainment division to offset the losses from the other two core business units - E-Commerce and Digital Financial Services. This resulted in the total adjusted EBITDA sinking to a negative $165.5 million in the third quarter of 2021 compared to a $120.4 billion gain in the same period last year.</p>\n<p><img src=\"https://static.tigerbbs.com/7613c5f9692fd8549e9da2f931ab3a68\" tg-width=\"613\" tg-height=\"509\" width=\"100%\" height=\"auto\">We often hear the bear case saying that if these pandemic beneficiaries cannot turn their economies of scale into profitability with this massive tailwind, when will they ever? Despite ever-rising revenues, Sea Ltd. has been posting a downtrend in its operating income and net income. Sea Ltd.'s net income reached a staggering $1.95 billion on a trailing twelve-month basis as of the third quarter of 2021.</p>\n<p>The bull camp can defend Sea Limited saying it is still investing in user growth and new businesses. That's fair. However, are shareholders aware that Wall Street analysts have projected a significant slowdown in Sea Ltd.'s revenue growth? On a consensus basis, its Q4 2021 revenue would slow further to 93.5 percent and the subsequent quarters will continue the deceleration to post 16.1 percent year-on-year growth by the fourth quarter of 2023.</p>\n<p><img src=\"https://static.tigerbbs.com/547ca89e5de6c8d087dfbd50dd92c0d7\" tg-width=\"593\" tg-height=\"371\" width=\"100%\" height=\"auto\">Looking further out, Sea Limited's revenue growth on a year-on-year basis is estimated to shrink from 114.6 percent in 2021 to 50.1 percent next year and a mere 8.8 percent by the end of 2025.<img src=\"https://static.tigerbbs.com/61d4ffb56269c34a8a17dfcd097375cc\" tg-width=\"612\" tg-height=\"249\" width=\"100%\" height=\"auto\">The bulls could argue that Sea Limited has a strong track record of surpassing the consensus revenue estimates. In the 16 quarters of posting earnings as a public company, it has only one miss (Q1 2021) and that was a very minor one. This suggests that analysts have been conservative in their forecasts on Sea Limited and there is room for upward adjustments in the coming quarters.<img src=\"https://static.tigerbbs.com/77fd8b53015b510bb1e02139cd50a625\" tg-width=\"615\" tg-height=\"325\" width=\"100%\" height=\"auto\">However, if Sea Limited maintains its breakneck revenue growth while its profitability doesn't improve to a positive in the coming years, analysts and shareholders would be hard-pressed to find a convincing reason to keep their faith in the company. According to the consensus estimates, Sea Limited wouldn't see a positive profit before 2024.<img src=\"https://static.tigerbbs.com/f88fc46a02603196127dcef0701f4529\" tg-width=\"620\" tg-height=\"186\" width=\"100%\" height=\"auto\">The projection showing an improving EPS trend is comforting. However, in contrast with its revenue beats, Sea Limited has long been challenged in meeting analysts' expectations of its earnings. Except for one lone quarter, Sea Limited has delivered negative surprises for all its reported quarterly EPS. In the last reported quarter, Sea Limited missed by a whopping 37.4 percent.</p>\n<p>The largest-ever miss was in March 2020 where the reported EPS was 78.9 percent lower than the consensus. This meant that the above analyst estimates for its EPS could be optimistic and Sea Limited may not see a positive profit even in 2024 or 2025.</p>\n<p><img src=\"https://static.tigerbbs.com/373d1efa57c3058f0cb2d6628368087f\" tg-width=\"627\" tg-height=\"322\" width=\"100%\" height=\"auto\">Hedgeye recently named Sea Limited as its&nbsp;best idea short. The research firm called Sea Limited's flagship game Garena Free Fire a \"one-hit wonder whose performance has peaked.\" The profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to 'subsidize' the e-commerce and fintech arms would diminish further. Constraining the freewheeling 'spending' for the latter two units may result in slower growth that reverses the bull camp's thesis.</p>\n<p>Never mind the widening losses, shareholders can wait, the management might have reasoned. Meanwhile, Sea Limited remains generous with its share-based compensation [SBC]. The SBC is projected to rise to $133.4 million for the final quarter of 2021. This is a sharp rise from the mere $34.9 million given out in 2019 4Q.</p>\n<p><img src=\"https://static.tigerbbs.com/de99388fbd2c5d34db0aa558e6665dbe\" tg-width=\"633\" tg-height=\"416\" width=\"100%\" height=\"auto\">It may be worthwhile to note that the outstanding shares count of Sea Limited has doubled from 2017. In September, the company&nbsp;made&nbsp;a direct public offering of 11 million American Depositary Shares and 0.25 percent convertible senior unsecured notes with an aggregate principal of US$2.5 billion.</p>\n<p>Sea Limited said then that it planned \"to use the net proceeds from the Offerings for business expansion and other general corporate purposes, including potential strategic investments and acquisitions.\" Could its international expansion endeavors support Sea Limited in perpetuating its high-growth story? At the expense of escalating costs amid a reckoning of pandemic stocks?</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>Sea Limited: Beware The Illusions Of Growth</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nSea Limited: Beware The Illusions Of Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-21 13:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4475916-sea-limited-se-stock-beware-growth-illusions><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nSea Limited has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures.\nThe uniqueness of SE, the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4475916-sea-limited-se-stock-beware-growth-illusions\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4475916-sea-limited-se-stock-beware-growth-illusions","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181908837","content_text":"Summary\n\nSea Limited has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures.\nThe uniqueness of SE, the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to it. But these dynamics have changed.\nThe e-commerce unit's EBITDA is getting more negative by the quarter amid a shrinking GMV per order trend.\nThe profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to \"subsidize\" the e-commerce and fintech arms would diminish further.\nAnalysts are projecting a persistent revenue growth slowdown in the coming quarters and years.\n\nInvestment thesis\nSea Limited(NYSE:SE)has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures such as study/work-from-home. SE stock was already a solid performer pre-COVID, with gains surpassing that of its Chinese peer, Tencent Holdings (OTCPK:TCEHY) (OTCPK:TCTZF), and Latin American peer, MercadoLibre Inc. (MELI).\nOver the past three years, Sea Ltd. has seen its share price soar more than 3000 percent. After recent declines, SE stock is still up over 17 times from late December 2018. In the same period MELI stock is up 2.8 times while TCEHY stock is up only 47 percent.\nStrictly speaking, Sea Limited doesn't have an equivalent among the large internet companies. Its gaming business is highly profitable, enabling it to fund its heavily loss-making e-commerce and fintech units. MercadoLibre hosts the largest online commerce and payments ecosystem in Latin America and it doesn't count gaming as a core business.\nTencent is big in gaming and fintech but its e-commerce ambitions are mostly manifested through its investments in related companies. Alibaba Group Holding (BABA) is huge in e-commerce and fintech but gaming is not a meaningful division on its own.\nSea Limited's peers in Southeast Asia are also having different backgrounds. Grab Holdings Limited (GRAB) started as a ride-hailing platform and subsequently branched into fintech and on-demand delivery including groceries. Indonesia's GoTo Group (GOTO) is formed from the merger of the two largest startups in the country - ride-hailing giant Gojek and e-commerce company Tokopedia.\nThus, the uniqueness of Sea Limited, particularly the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to this tech firm halfway around the globe from the U.S. However, the growth at its gaming unit, Garena, which the company categorizes as Digital Entertainment, registered a dramatic slowdown in the third quarter of 2021.\nAlthough the gross orders and GMV metrics are still showing healthy growth, the e-commerce unit's EBITDA is getting more negative by the quarter. The total adjusted EBITDA for Sea Limited has flipped to negative this year. In other words, the profitable gaming business is no longer able to offset the escalating losses from the e-commerce and digital financial services divisions.\nAt the same time, share-based compensation continues to rise steadily. Competition in the region is also heating up, with GRAB coming to public view following its merger with a SPAC, and GoTo Group eager to show solid growth figures in the prelude to its IPO.\nHence, while I'm late to the warning party, with the SE stock down 42 percent from its recent peak, the steepest fall since it became publicly traded, I believe there could be further downside over the months ahead.\nThus, the motivation of this article is to delve deeper into the seemingly incomplete picture provided by the results presentations to understand the health of Sea Limited's e-commerce business. I will also highlight the ballooning losses as the divisions named E-Commerce and Digital Financial Services scale up.\nGMV growth tells only a partial (and possibly erroneous) story\nSea Limited's e-commerce arm, Shopee, has successfully increased its gross orders from 0.6 billion in 2Q 2020 to 1.7 billion in 3Q 2021, nearly tripling during the interval. Shopee's gross merchandise value (GMV) more than doubled from US$8.0 billion in 2Q 2020 to US$16.8 billion in 3Q 2021.While the growth figures look all fantastic, we need to understand the gross order numbers have been increasing at a faster pace than the GMV. In other words, the value per transaction has been declining steadily. The GMV per gross order has fallen from $13.3 in Q3 2020 to $9.9 in Q3 2021. I estimated this to reduce further to around $9.3 for the final quarter of 2021 if the trend continues.A smaller value per order may help Shopee gain from transaction-based fees. However, it's hard to see how the rising prevalence of lower value items helps with monetizing value-added services and advertising revenue over the long run.\nFor now, Shopee is still reporting healthy monetization, with GAAP revenue as a percentage of total GMV rising to 8.6 percent from 6.7 percent in the third quarter of 2020. GAAP e-commerce revenue grew 134 percent from last year to reach $1.5 billion.\nTo reverse the shrinking GMV per order trend, Shopee would need to sell larger ticket items like luxury products. Shopee recognizes this and it launched Shopee Premium, a delicate section on Shopee for select brand partners in the luxury segment, a year ago.\nIt remains to be seen if Shopee can improve the user experience sufficiently to entice users to shop luxury items on its app. In its present form, based on my experience and the feedback I gathered from friends, navigation on the Shopee app can be frustrating at times and the product information page leaves much to be desired.\nNonetheless, we are flocking to Shopee for the great bargains offered on the platform. There are plenty of deeply discounted items during \"flash sales\" periods, which have become increasingly prevalent. Would users return to Shopee when it stops being aggressive on promotions and if competing platforms turn on their respective campaigns?\nUnless the luxury products are heavily discounted, I question why users would buy on Shopee otherwise, at least based on the current interface. Then again, luxury brands wouldn't want to sully their image with steep offers on Shopee, or Shopee Premium, for that matter.\nA lower GMV per transaction would also imply that Shopee's operating cost could be rising, considering the larger bandwidth and processing efforts required in handling the growing orders.\nLosses keep ballooning, share-based compensation keeps rising\nGAAP e-commerce revenue growth is healthy and even outpacing the GMV growth. That means Sea Limited's Shopee is increasing its monetization. However, is all well and good?\nSea Limited's total revenues have risen rapidly over the past years, but so have its losses. Just looking at the cost of revenues and total operating expenses, these have soared, growing exponentially in recent years. If we just obsess with growing sales at all costs, then we can ignore the escalating losses.\nHowever, can shareholders be comfortable with the skyrocketing losses over another few years? Sea Limited looks set to end 2021 with a larger loss than last year, which already saw a substantially higher loss than 2019. One major driver of this is the inability of the Digital Entertainment division to offset the losses from the other two core business units - E-Commerce and Digital Financial Services. This resulted in the total adjusted EBITDA sinking to a negative $165.5 million in the third quarter of 2021 compared to a $120.4 billion gain in the same period last year.\nWe often hear the bear case saying that if these pandemic beneficiaries cannot turn their economies of scale into profitability with this massive tailwind, when will they ever? Despite ever-rising revenues, Sea Ltd. has been posting a downtrend in its operating income and net income. Sea Ltd.'s net income reached a staggering $1.95 billion on a trailing twelve-month basis as of the third quarter of 2021.\nThe bull camp can defend Sea Limited saying it is still investing in user growth and new businesses. That's fair. However, are shareholders aware that Wall Street analysts have projected a significant slowdown in Sea Ltd.'s revenue growth? On a consensus basis, its Q4 2021 revenue would slow further to 93.5 percent and the subsequent quarters will continue the deceleration to post 16.1 percent year-on-year growth by the fourth quarter of 2023.\nLooking further out, Sea Limited's revenue growth on a year-on-year basis is estimated to shrink from 114.6 percent in 2021 to 50.1 percent next year and a mere 8.8 percent by the end of 2025.The bulls could argue that Sea Limited has a strong track record of surpassing the consensus revenue estimates. In the 16 quarters of posting earnings as a public company, it has only one miss (Q1 2021) and that was a very minor one. This suggests that analysts have been conservative in their forecasts on Sea Limited and there is room for upward adjustments in the coming quarters.However, if Sea Limited maintains its breakneck revenue growth while its profitability doesn't improve to a positive in the coming years, analysts and shareholders would be hard-pressed to find a convincing reason to keep their faith in the company. According to the consensus estimates, Sea Limited wouldn't see a positive profit before 2024.The projection showing an improving EPS trend is comforting. However, in contrast with its revenue beats, Sea Limited has long been challenged in meeting analysts' expectations of its earnings. Except for one lone quarter, Sea Limited has delivered negative surprises for all its reported quarterly EPS. In the last reported quarter, Sea Limited missed by a whopping 37.4 percent.\nThe largest-ever miss was in March 2020 where the reported EPS was 78.9 percent lower than the consensus. This meant that the above analyst estimates for its EPS could be optimistic and Sea Limited may not see a positive profit even in 2024 or 2025.\nHedgeye recently named Sea Limited as its best idea short. The research firm called Sea Limited's flagship game Garena Free Fire a \"one-hit wonder whose performance has peaked.\" The profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to 'subsidize' the e-commerce and fintech arms would diminish further. Constraining the freewheeling 'spending' for the latter two units may result in slower growth that reverses the bull camp's thesis.\nNever mind the widening losses, shareholders can wait, the management might have reasoned. Meanwhile, Sea Limited remains generous with its share-based compensation [SBC]. The SBC is projected to rise to $133.4 million for the final quarter of 2021. This is a sharp rise from the mere $34.9 million given out in 2019 4Q.\nIt may be worthwhile to note that the outstanding shares count of Sea Limited has doubled from 2017. In September, the company made a direct public offering of 11 million American Depositary Shares and 0.25 percent convertible senior unsecured notes with an aggregate principal of US$2.5 billion.\nSea Limited said then that it planned \"to use the net proceeds from the Offerings for business expansion and other general corporate purposes, including potential strategic investments and acquisitions.\" Could its international expansion endeavors support Sea Limited in perpetuating its high-growth story? At the expense of escalating costs amid a reckoning of pandemic stocks?","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":1016,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693799146,"gmtCreate":1640074176362,"gmtModify":1640074176966,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Up up up","listText":"Up up up","text":"Up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/693799146","repostId":"1181908837","repostType":4,"repost":{"id":"1181908837","kind":"news","pubTimestamp":1640063718,"share":"https://www.laohu8.com/m/news/1181908837?lang=&edition=full","pubTime":"2021-12-21 13:15","market":"us","language":"en","title":"Sea Limited: Beware The Illusions Of Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1181908837","media":"Seeking Alpha","summary":"Summary\n\nSea Limited has been one of the top sought-after pandemic plays. Both of its two engines - ","content":"<p>Summary</p>\n<ul>\n <li>Sea Limited has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures.</li>\n <li>The uniqueness of SE, the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to it. But these dynamics have changed.</li>\n <li>The e-commerce unit's EBITDA is getting more negative by the quarter amid a shrinking GMV per order trend.</li>\n <li>The profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to \"subsidize\" the e-commerce and fintech arms would diminish further.</li>\n <li>Analysts are projecting a persistent revenue growth slowdown in the coming quarters and years.</li>\n</ul>\n<p>Investment thesis</p>\n<p>Sea Limited(NYSE:SE)has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures such as study/work-from-home. SE stock was already a solid performer pre-COVID, with gains surpassing that of its Chinese peer, Tencent Holdings (OTCPK:TCEHY) (OTCPK:TCTZF), and Latin American peer, MercadoLibre Inc. (MELI).</p>\n<p>Over the past three years, Sea Ltd. has seen its share price soar more than 3000 percent. After recent declines, SE stock is still up over 17 times from late December 2018. In the same period MELI stock is up 2.8 times while TCEHY stock is up only 47 percent.</p>\n<p>Strictly speaking, Sea Limited doesn't have an equivalent among the large internet companies. Its gaming business is highly profitable, enabling it to fund its heavily loss-making e-commerce and fintech units. MercadoLibre hosts the largest online commerce and payments ecosystem in Latin America and it doesn't count gaming as a core business.</p>\n<p>Tencent is big in gaming and fintech but its e-commerce ambitions are mostly manifested through its investments in related companies. Alibaba Group Holding (BABA) is huge in e-commerce and fintech but gaming is not a meaningful division on its own.</p>\n<p>Sea Limited's peers in Southeast Asia are also having different backgrounds. Grab Holdings Limited (GRAB) started as a ride-hailing platform and subsequently branched into fintech and on-demand delivery including groceries. Indonesia's GoTo Group (GOTO) is formed from the merger of the two largest startups in the country - ride-hailing giant Gojek and e-commerce company Tokopedia.</p>\n<p>Thus, the uniqueness of Sea Limited, particularly the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to this tech firm halfway around the globe from the U.S. However, the growth at its gaming unit, Garena, which the company categorizes as Digital Entertainment, registered a dramatic slowdown in the third quarter of 2021.</p>\n<p>Although the gross orders and GMV metrics are still showing healthy growth, the e-commerce unit's EBITDA is getting more negative by the quarter. The total adjusted EBITDA for Sea Limited has flipped to negative this year. In other words, the profitable gaming business is no longer able to offset the escalating losses from the e-commerce and digital financial services divisions.</p>\n<p>At the same time, share-based compensation continues to rise steadily. Competition in the region is also heating up, with GRAB coming to public view following its merger with a SPAC, and GoTo Group eager to show solid growth figures in the&nbsp;prelude&nbsp;to its IPO.</p>\n<p>Hence, while I'm late to the warning party, with the SE stock down 42 percent from its recent peak, the steepest fall since it became publicly traded, I believe there could be further downside over the months ahead.</p>\n<p>Thus, the motivation of this article is to delve deeper into the seemingly incomplete picture provided by the results presentations to understand the health of Sea Limited's e-commerce business. I will also highlight the ballooning losses as the divisions named E-Commerce and Digital Financial Services scale up.</p>\n<p>GMV growth tells only a partial (and possibly erroneous) story</p>\n<p>Sea Limited's e-commerce arm, Shopee, has successfully increased its gross orders from 0.6 billion in 2Q 2020 to 1.7 billion in 3Q 2021, nearly tripling during the interval. Shopee's gross merchandise value (GMV) more than doubled from US$8.0 billion in 2Q 2020 to US$16.8 billion in 3Q 2021.<img src=\"https://static.tigerbbs.com/c762afa3d2ab4131c56afe6ee34fdb07\" tg-width=\"652\" tg-height=\"328\" width=\"100%\" height=\"auto\">While the growth figures look all fantastic, we need to understand the gross order numbers have been increasing at a faster pace than the GMV. In other words, the value per transaction has been declining steadily. The GMV per gross order has fallen from $13.3 in Q3 2020 to $9.9 in Q3 2021. I estimated this to reduce further to around $9.3 for the final quarter of 2021 if the trend continues.<img src=\"https://static.tigerbbs.com/aac28723c01b836c9673b49744926e09\" tg-width=\"652\" tg-height=\"391\" width=\"100%\" height=\"auto\">A smaller value per order may help Shopee gain from transaction-based fees. However, it's hard to see how the rising prevalence of lower value items helps with monetizing value-added services and advertising revenue over the long run.</p>\n<p>For now, Shopee is still reporting healthy monetization, with GAAP revenue as a percentage of total GMV rising to 8.6 percent from 6.7 percent in the third quarter of 2020. GAAP e-commerce revenue grew 134 percent from last year to reach $1.5 billion.</p>\n<p>To reverse the shrinking GMV per order trend, Shopee would need to sell larger ticket items like luxury products. Shopee recognizes this and it launched Shopee Premium, a delicate section on Shopee for select brand partners in the luxury segment, a year ago.</p>\n<p>It remains to be seen if Shopee can improve the user experience sufficiently to entice users to shop luxury items on its app. In its present form, based on my experience and the feedback I gathered from friends, navigation on the Shopee app can be frustrating at times and the product information page leaves much to be desired.</p>\n<p>Nonetheless, we are flocking to Shopee for the great bargains offered on the platform. There are plenty of deeply discounted items during \"flash sales\" periods, which have become increasingly prevalent. Would users return to Shopee when it stops being aggressive on promotions and if competing platforms turn on their respective campaigns?</p>\n<p>Unless the luxury products are heavily discounted, I question why users would buy on Shopee otherwise, at least based on the current interface. Then again, luxury brands wouldn't want to sully their image with steep offers on Shopee, or Shopee Premium, for that matter.</p>\n<p>A lower GMV per transaction would also imply that Shopee's operating cost could be rising, considering the larger bandwidth and processing efforts required in handling the growing orders.</p>\n<p>Losses keep ballooning, share-based compensation keeps rising</p>\n<p>GAAP e-commerce revenue growth is healthy and even outpacing the GMV growth. That means Sea Limited's Shopee is increasing its monetization. However, is all well and good?</p>\n<p>Sea Limited's total revenues have risen rapidly over the past years, but so have its losses. Just looking at the cost of revenues and total operating expenses, these have soared, growing exponentially in recent years. If we just obsess with growing sales at all costs, then we can ignore the escalating losses.</p>\n<p><img src=\"https://static.tigerbbs.com/7ef17a9a9a279c55673ba39f1dd74577\" tg-width=\"625\" tg-height=\"418\" width=\"100%\" height=\"auto\">However, can shareholders be comfortable with the skyrocketing losses over another few years? Sea Limited looks set to end 2021 with a larger loss than last year, which already saw a substantially higher loss than 2019. One major driver of this is the inability of the Digital Entertainment division to offset the losses from the other two core business units - E-Commerce and Digital Financial Services. This resulted in the total adjusted EBITDA sinking to a negative $165.5 million in the third quarter of 2021 compared to a $120.4 billion gain in the same period last year.</p>\n<p><img src=\"https://static.tigerbbs.com/7613c5f9692fd8549e9da2f931ab3a68\" tg-width=\"613\" tg-height=\"509\" width=\"100%\" height=\"auto\">We often hear the bear case saying that if these pandemic beneficiaries cannot turn their economies of scale into profitability with this massive tailwind, when will they ever? Despite ever-rising revenues, Sea Ltd. has been posting a downtrend in its operating income and net income. Sea Ltd.'s net income reached a staggering $1.95 billion on a trailing twelve-month basis as of the third quarter of 2021.</p>\n<p>The bull camp can defend Sea Limited saying it is still investing in user growth and new businesses. That's fair. However, are shareholders aware that Wall Street analysts have projected a significant slowdown in Sea Ltd.'s revenue growth? On a consensus basis, its Q4 2021 revenue would slow further to 93.5 percent and the subsequent quarters will continue the deceleration to post 16.1 percent year-on-year growth by the fourth quarter of 2023.</p>\n<p><img src=\"https://static.tigerbbs.com/547ca89e5de6c8d087dfbd50dd92c0d7\" tg-width=\"593\" tg-height=\"371\" width=\"100%\" height=\"auto\">Looking further out, Sea Limited's revenue growth on a year-on-year basis is estimated to shrink from 114.6 percent in 2021 to 50.1 percent next year and a mere 8.8 percent by the end of 2025.<img src=\"https://static.tigerbbs.com/61d4ffb56269c34a8a17dfcd097375cc\" tg-width=\"612\" tg-height=\"249\" width=\"100%\" height=\"auto\">The bulls could argue that Sea Limited has a strong track record of surpassing the consensus revenue estimates. In the 16 quarters of posting earnings as a public company, it has only one miss (Q1 2021) and that was a very minor one. This suggests that analysts have been conservative in their forecasts on Sea Limited and there is room for upward adjustments in the coming quarters.<img src=\"https://static.tigerbbs.com/77fd8b53015b510bb1e02139cd50a625\" tg-width=\"615\" tg-height=\"325\" width=\"100%\" height=\"auto\">However, if Sea Limited maintains its breakneck revenue growth while its profitability doesn't improve to a positive in the coming years, analysts and shareholders would be hard-pressed to find a convincing reason to keep their faith in the company. According to the consensus estimates, Sea Limited wouldn't see a positive profit before 2024.<img src=\"https://static.tigerbbs.com/f88fc46a02603196127dcef0701f4529\" tg-width=\"620\" tg-height=\"186\" width=\"100%\" height=\"auto\">The projection showing an improving EPS trend is comforting. However, in contrast with its revenue beats, Sea Limited has long been challenged in meeting analysts' expectations of its earnings. Except for one lone quarter, Sea Limited has delivered negative surprises for all its reported quarterly EPS. In the last reported quarter, Sea Limited missed by a whopping 37.4 percent.</p>\n<p>The largest-ever miss was in March 2020 where the reported EPS was 78.9 percent lower than the consensus. This meant that the above analyst estimates for its EPS could be optimistic and Sea Limited may not see a positive profit even in 2024 or 2025.</p>\n<p><img src=\"https://static.tigerbbs.com/373d1efa57c3058f0cb2d6628368087f\" tg-width=\"627\" tg-height=\"322\" width=\"100%\" height=\"auto\">Hedgeye recently named Sea Limited as its&nbsp;best idea short. The research firm called Sea Limited's flagship game Garena Free Fire a \"one-hit wonder whose performance has peaked.\" The profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to 'subsidize' the e-commerce and fintech arms would diminish further. Constraining the freewheeling 'spending' for the latter two units may result in slower growth that reverses the bull camp's thesis.</p>\n<p>Never mind the widening losses, shareholders can wait, the management might have reasoned. Meanwhile, Sea Limited remains generous with its share-based compensation [SBC]. The SBC is projected to rise to $133.4 million for the final quarter of 2021. This is a sharp rise from the mere $34.9 million given out in 2019 4Q.</p>\n<p><img src=\"https://static.tigerbbs.com/de99388fbd2c5d34db0aa558e6665dbe\" tg-width=\"633\" tg-height=\"416\" width=\"100%\" height=\"auto\">It may be worthwhile to note that the outstanding shares count of Sea Limited has doubled from 2017. In September, the company&nbsp;made&nbsp;a direct public offering of 11 million American Depositary Shares and 0.25 percent convertible senior unsecured notes with an aggregate principal of US$2.5 billion.</p>\n<p>Sea Limited said then that it planned \"to use the net proceeds from the Offerings for business expansion and other general corporate purposes, including potential strategic investments and acquisitions.\" Could its international expansion endeavors support Sea Limited in perpetuating its high-growth story? At the expense of escalating costs amid a reckoning of pandemic stocks?</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>Sea Limited: Beware The Illusions Of Growth</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nSea Limited: Beware The Illusions Of Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-21 13:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4475916-sea-limited-se-stock-beware-growth-illusions><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nSea Limited has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures.\nThe uniqueness of SE, the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4475916-sea-limited-se-stock-beware-growth-illusions\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4475916-sea-limited-se-stock-beware-growth-illusions","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181908837","content_text":"Summary\n\nSea Limited has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures.\nThe uniqueness of SE, the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to it. But these dynamics have changed.\nThe e-commerce unit's EBITDA is getting more negative by the quarter amid a shrinking GMV per order trend.\nThe profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to \"subsidize\" the e-commerce and fintech arms would diminish further.\nAnalysts are projecting a persistent revenue growth slowdown in the coming quarters and years.\n\nInvestment thesis\nSea Limited(NYSE:SE)has been one of the top sought-after pandemic plays. Both of its two engines - gaming and e-commerce - are key beneficiaries of the COVID-19 measures such as study/work-from-home. SE stock was already a solid performer pre-COVID, with gains surpassing that of its Chinese peer, Tencent Holdings (OTCPK:TCEHY) (OTCPK:TCTZF), and Latin American peer, MercadoLibre Inc. (MELI).\nOver the past three years, Sea Ltd. has seen its share price soar more than 3000 percent. After recent declines, SE stock is still up over 17 times from late December 2018. In the same period MELI stock is up 2.8 times while TCEHY stock is up only 47 percent.\nStrictly speaking, Sea Limited doesn't have an equivalent among the large internet companies. Its gaming business is highly profitable, enabling it to fund its heavily loss-making e-commerce and fintech units. MercadoLibre hosts the largest online commerce and payments ecosystem in Latin America and it doesn't count gaming as a core business.\nTencent is big in gaming and fintech but its e-commerce ambitions are mostly manifested through its investments in related companies. Alibaba Group Holding (BABA) is huge in e-commerce and fintech but gaming is not a meaningful division on its own.\nSea Limited's peers in Southeast Asia are also having different backgrounds. Grab Holdings Limited (GRAB) started as a ride-hailing platform and subsequently branched into fintech and on-demand delivery including groceries. Indonesia's GoTo Group (GOTO) is formed from the merger of the two largest startups in the country - ride-hailing giant Gojek and e-commerce company Tokopedia.\nThus, the uniqueness of Sea Limited, particularly the ability to leverage its cash cow gaming unit to grow new businesses, has seen investors flocking to this tech firm halfway around the globe from the U.S. However, the growth at its gaming unit, Garena, which the company categorizes as Digital Entertainment, registered a dramatic slowdown in the third quarter of 2021.\nAlthough the gross orders and GMV metrics are still showing healthy growth, the e-commerce unit's EBITDA is getting more negative by the quarter. The total adjusted EBITDA for Sea Limited has flipped to negative this year. In other words, the profitable gaming business is no longer able to offset the escalating losses from the e-commerce and digital financial services divisions.\nAt the same time, share-based compensation continues to rise steadily. Competition in the region is also heating up, with GRAB coming to public view following its merger with a SPAC, and GoTo Group eager to show solid growth figures in the prelude to its IPO.\nHence, while I'm late to the warning party, with the SE stock down 42 percent from its recent peak, the steepest fall since it became publicly traded, I believe there could be further downside over the months ahead.\nThus, the motivation of this article is to delve deeper into the seemingly incomplete picture provided by the results presentations to understand the health of Sea Limited's e-commerce business. I will also highlight the ballooning losses as the divisions named E-Commerce and Digital Financial Services scale up.\nGMV growth tells only a partial (and possibly erroneous) story\nSea Limited's e-commerce arm, Shopee, has successfully increased its gross orders from 0.6 billion in 2Q 2020 to 1.7 billion in 3Q 2021, nearly tripling during the interval. Shopee's gross merchandise value (GMV) more than doubled from US$8.0 billion in 2Q 2020 to US$16.8 billion in 3Q 2021.While the growth figures look all fantastic, we need to understand the gross order numbers have been increasing at a faster pace than the GMV. In other words, the value per transaction has been declining steadily. The GMV per gross order has fallen from $13.3 in Q3 2020 to $9.9 in Q3 2021. I estimated this to reduce further to around $9.3 for the final quarter of 2021 if the trend continues.A smaller value per order may help Shopee gain from transaction-based fees. However, it's hard to see how the rising prevalence of lower value items helps with monetizing value-added services and advertising revenue over the long run.\nFor now, Shopee is still reporting healthy monetization, with GAAP revenue as a percentage of total GMV rising to 8.6 percent from 6.7 percent in the third quarter of 2020. GAAP e-commerce revenue grew 134 percent from last year to reach $1.5 billion.\nTo reverse the shrinking GMV per order trend, Shopee would need to sell larger ticket items like luxury products. Shopee recognizes this and it launched Shopee Premium, a delicate section on Shopee for select brand partners in the luxury segment, a year ago.\nIt remains to be seen if Shopee can improve the user experience sufficiently to entice users to shop luxury items on its app. In its present form, based on my experience and the feedback I gathered from friends, navigation on the Shopee app can be frustrating at times and the product information page leaves much to be desired.\nNonetheless, we are flocking to Shopee for the great bargains offered on the platform. There are plenty of deeply discounted items during \"flash sales\" periods, which have become increasingly prevalent. Would users return to Shopee when it stops being aggressive on promotions and if competing platforms turn on their respective campaigns?\nUnless the luxury products are heavily discounted, I question why users would buy on Shopee otherwise, at least based on the current interface. Then again, luxury brands wouldn't want to sully their image with steep offers on Shopee, or Shopee Premium, for that matter.\nA lower GMV per transaction would also imply that Shopee's operating cost could be rising, considering the larger bandwidth and processing efforts required in handling the growing orders.\nLosses keep ballooning, share-based compensation keeps rising\nGAAP e-commerce revenue growth is healthy and even outpacing the GMV growth. That means Sea Limited's Shopee is increasing its monetization. However, is all well and good?\nSea Limited's total revenues have risen rapidly over the past years, but so have its losses. Just looking at the cost of revenues and total operating expenses, these have soared, growing exponentially in recent years. If we just obsess with growing sales at all costs, then we can ignore the escalating losses.\nHowever, can shareholders be comfortable with the skyrocketing losses over another few years? Sea Limited looks set to end 2021 with a larger loss than last year, which already saw a substantially higher loss than 2019. One major driver of this is the inability of the Digital Entertainment division to offset the losses from the other two core business units - E-Commerce and Digital Financial Services. This resulted in the total adjusted EBITDA sinking to a negative $165.5 million in the third quarter of 2021 compared to a $120.4 billion gain in the same period last year.\nWe often hear the bear case saying that if these pandemic beneficiaries cannot turn their economies of scale into profitability with this massive tailwind, when will they ever? Despite ever-rising revenues, Sea Ltd. has been posting a downtrend in its operating income and net income. Sea Ltd.'s net income reached a staggering $1.95 billion on a trailing twelve-month basis as of the third quarter of 2021.\nThe bull camp can defend Sea Limited saying it is still investing in user growth and new businesses. That's fair. However, are shareholders aware that Wall Street analysts have projected a significant slowdown in Sea Ltd.'s revenue growth? On a consensus basis, its Q4 2021 revenue would slow further to 93.5 percent and the subsequent quarters will continue the deceleration to post 16.1 percent year-on-year growth by the fourth quarter of 2023.\nLooking further out, Sea Limited's revenue growth on a year-on-year basis is estimated to shrink from 114.6 percent in 2021 to 50.1 percent next year and a mere 8.8 percent by the end of 2025.The bulls could argue that Sea Limited has a strong track record of surpassing the consensus revenue estimates. In the 16 quarters of posting earnings as a public company, it has only one miss (Q1 2021) and that was a very minor one. This suggests that analysts have been conservative in their forecasts on Sea Limited and there is room for upward adjustments in the coming quarters.However, if Sea Limited maintains its breakneck revenue growth while its profitability doesn't improve to a positive in the coming years, analysts and shareholders would be hard-pressed to find a convincing reason to keep their faith in the company. According to the consensus estimates, Sea Limited wouldn't see a positive profit before 2024.The projection showing an improving EPS trend is comforting. However, in contrast with its revenue beats, Sea Limited has long been challenged in meeting analysts' expectations of its earnings. Except for one lone quarter, Sea Limited has delivered negative surprises for all its reported quarterly EPS. In the last reported quarter, Sea Limited missed by a whopping 37.4 percent.\nThe largest-ever miss was in March 2020 where the reported EPS was 78.9 percent lower than the consensus. This meant that the above analyst estimates for its EPS could be optimistic and Sea Limited may not see a positive profit even in 2024 or 2025.\nHedgeye recently named Sea Limited as its best idea short. The research firm called Sea Limited's flagship game Garena Free Fire a \"one-hit wonder whose performance has peaked.\" The profit from Garena is already unable to cover the losses from the other units in the past quarters. If Garena falters, the ability to 'subsidize' the e-commerce and fintech arms would diminish further. Constraining the freewheeling 'spending' for the latter two units may result in slower growth that reverses the bull camp's thesis.\nNever mind the widening losses, shareholders can wait, the management might have reasoned. Meanwhile, Sea Limited remains generous with its share-based compensation [SBC]. The SBC is projected to rise to $133.4 million for the final quarter of 2021. This is a sharp rise from the mere $34.9 million given out in 2019 4Q.\nIt may be worthwhile to note that the outstanding shares count of Sea Limited has doubled from 2017. In September, the company made a direct public offering of 11 million American Depositary Shares and 0.25 percent convertible senior unsecured notes with an aggregate principal of US$2.5 billion.\nSea Limited said then that it planned \"to use the net proceeds from the Offerings for business expansion and other general corporate purposes, including potential strategic investments and acquisitions.\" Could its international expansion endeavors support Sea Limited in perpetuating its high-growth story? At the expense of escalating costs amid a reckoning of pandemic stocks?","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693665607,"gmtCreate":1640014609543,"gmtModify":1640014610256,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Always up&nbsp;Tesla!","listText":"Always up&nbsp;Tesla!","text":"Always up Tesla!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/693665607","repostId":"1149998172","repostType":4,"isVote":1,"tweetType":1,"viewCount":879,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":693007556,"gmtCreate":1639920440262,"gmtModify":1639920440875,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/693007556","repostId":"2192890991","repostType":4,"isVote":1,"tweetType":1,"viewCount":949,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699503795,"gmtCreate":1639828889351,"gmtModify":1639828889941,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Buy buy buy","listText":"Buy buy buy","text":"Buy buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/699503795","repostId":"2192754259","repostType":4,"isVote":1,"tweetType":1,"viewCount":793,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":699172892,"gmtCreate":1639761841837,"gmtModify":1639761842409,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Up","listText":"Up","text":"Up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/699172892","repostId":"1155981470","repostType":4,"repost":{"id":"1155981470","kind":"news","pubTimestamp":1639748485,"share":"https://www.laohu8.com/m/news/1155981470?lang=&edition=full","pubTime":"2021-12-17 21:41","market":"us","language":"en","title":"FedEx reveals a stunning stat that shows the job market is really hot","url":"https://stock-news.laohu8.com/highlight/detail?id=1155981470","media":"Yahoo Finance","summary":"FedEx (FDX) is getting inundated with job applications in what continues to be a hot U.S. labor mark","content":"<p>FedEx (FDX) is getting inundated with job applications in what continues to be a hot U.S. labor market characterized by increased job switchers.</p>\n<p>\"Just the last week, we had 111,000 applications for FedEx. That's the highest in our history,\" said FedEx COO Raj Subramanian on an earnings call Thursday evening. \"To put that in context versus what we say in May, that was 52,000.\"</p>\n<p>The flood of applications isn't a surprise as FedEx earlier in the year lifted hourly wages for package handlers to $20 an hour. It has also doled out referral bonuses to employees who secure a new hire as the company looks to staff up to meet surging e-commerce demand during the pandemic.</p>\n<p>Moreover, the labor market remains tight as to encourage job switching.</p>\n<p>November non-farm payrolls increased by 210,000, the Labor Department said earlier this month. Job gains were notched in the professional and business services, transportation and warehousing, construction, and manufacturing sectors. Employment for September and October were upwardly revised by 82,000.</p>\n<p>\"I think by the end of the year [2022] we could see the unemployment rate around 3%,\" said Michael Feroli, J.P. Morgan chief U.S. economist, onYahoo Finance Live. \"It's stunning to see how much the rate has fallen in the last five months. We expect that pace of decline to slow, but it doesn't take much to get below 4%. Even with a tick up in the labor participation rate which has been depressed over the last year and a half.\"</p>\n<p>As for FedEx, the increased pace of hiring allowed it to drive better than expected quarterly earnings.</p>\n<p>The company's second fiscal quarter earnings came in at $4.83 a share versus estimates for $4.26 a share. Revenue rose 14% from a year ago to $23.5 billion. Analysts had expected sales of $22.39 billion.</p>\n<p>For its current fiscal year, FedEx sees earnings of $20.50 to $21.50 a share compared to estimates for $19.69.</p>\n<p>Added Subramanian, \"The first and most important point is the demand for our services is very robust. The pricing environment is very robust. The labor headwinds start to recede in the second half. The investments that we have made to get more efficient as we go into the second half and the technology investments that make us more efficient as well. So, we expect in the second half, our profit and operating margins to improve year-over-year and we get double-digit [percentage].\"</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>FedEx reveals a stunning stat that shows the job market is really hot</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nFedEx reveals a stunning stat that shows the job market is really hot\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-12-17 21:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/fed-ex-reveals-a-stunning-stat-that-shows-the-job-market-is-really-hot-133543640.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>FedEx (FDX) is getting inundated with job applications in what continues to be a hot U.S. labor market characterized by increased job switchers.\n\"Just the last week, we had 111,000 applications for ...</p>\n\n<a href=\"https://finance.yahoo.com/news/fed-ex-reveals-a-stunning-stat-that-shows-the-job-market-is-really-hot-133543640.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FDX":"联邦快递"},"source_url":"https://finance.yahoo.com/news/fed-ex-reveals-a-stunning-stat-that-shows-the-job-market-is-really-hot-133543640.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155981470","content_text":"FedEx (FDX) is getting inundated with job applications in what continues to be a hot U.S. labor market characterized by increased job switchers.\n\"Just the last week, we had 111,000 applications for FedEx. That's the highest in our history,\" said FedEx COO Raj Subramanian on an earnings call Thursday evening. \"To put that in context versus what we say in May, that was 52,000.\"\nThe flood of applications isn't a surprise as FedEx earlier in the year lifted hourly wages for package handlers to $20 an hour. It has also doled out referral bonuses to employees who secure a new hire as the company looks to staff up to meet surging e-commerce demand during the pandemic.\nMoreover, the labor market remains tight as to encourage job switching.\nNovember non-farm payrolls increased by 210,000, the Labor Department said earlier this month. Job gains were notched in the professional and business services, transportation and warehousing, construction, and manufacturing sectors. Employment for September and October were upwardly revised by 82,000.\n\"I think by the end of the year [2022] we could see the unemployment rate around 3%,\" said Michael Feroli, J.P. Morgan chief U.S. economist, onYahoo Finance Live. \"It's stunning to see how much the rate has fallen in the last five months. We expect that pace of decline to slow, but it doesn't take much to get below 4%. Even with a tick up in the labor participation rate which has been depressed over the last year and a half.\"\nAs for FedEx, the increased pace of hiring allowed it to drive better than expected quarterly earnings.\nThe company's second fiscal quarter earnings came in at $4.83 a share versus estimates for $4.26 a share. Revenue rose 14% from a year ago to $23.5 billion. Analysts had expected sales of $22.39 billion.\nFor its current fiscal year, FedEx sees earnings of $20.50 to $21.50 a share compared to estimates for $19.69.\nAdded Subramanian, \"The first and most important point is the demand for our services is very robust. The pricing environment is very robust. The labor headwinds start to recede in the second half. The investments that we have made to get more efficient as we go into the second half and the technology investments that make us more efficient as well. So, we expect in the second half, our profit and operating margins to improve year-over-year and we get double-digit [percentage].\"","news_type":1,"symbols_score_info":{"FDX":0.9}},"isVote":1,"tweetType":1,"viewCount":375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690149469,"gmtCreate":1639649293320,"gmtModify":1639649294535,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"To the moon!","listText":"To the moon!","text":"To the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690149469","repostId":"1106505192","repostType":4,"repost":{"id":"1106505192","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639645300,"share":"https://www.laohu8.com/m/news/1106505192?lang=&edition=full","pubTime":"2021-12-16 17:01","market":"us","language":"en","title":"Tesla rose over 2% in premarket trading as it was expected to get orders from New York police for up to 250 Model 3 vehicles","url":"https://stock-news.laohu8.com/highlight/detail?id=1106505192","media":"Tiger Newspress","summary":"Tesla rose over 2% in premarket trading as it was expected to get orders from New York police for up","content":"<p>Tesla rose over 2% in premarket trading as it was expected to get orders from New York police for up to 250 Model 3 vehicles.<img src=\"https://static.tigerbbs.com/4ee1319bd46c7e3ff97c29e98fee8dd9\" tg-width=\"771\" tg-height=\"564\" width=\"100%\" height=\"auto\">Tesla Motors not only attracted the interest of a large number of consumers, but also attracted the interest of car rental companies and relevant government agencies. Model S already existed in the motorcade of Fremont police in California.</p>\n<p>New York police are also considering switching to electric vehicles and planning to purchase a batch of Tesla Motors Model 3.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla rose over 2% in premarket trading as it was expected to get orders from New York police for up to 250 Model 3 vehicles</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla rose over 2% in premarket trading as it was expected to get orders from New York police for up to 250 Model 3 vehicles\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-12-16 17:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Tesla rose over 2% in premarket trading as it was expected to get orders from New York police for up to 250 Model 3 vehicles.<img src=\"https://static.tigerbbs.com/4ee1319bd46c7e3ff97c29e98fee8dd9\" tg-width=\"771\" tg-height=\"564\" width=\"100%\" height=\"auto\">Tesla Motors not only attracted the interest of a large number of consumers, but also attracted the interest of car rental companies and relevant government agencies. Model S already existed in the motorcade of Fremont police in California.</p>\n<p>New York police are also considering switching to electric vehicles and planning to purchase a batch of Tesla Motors Model 3.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106505192","content_text":"Tesla rose over 2% in premarket trading as it was expected to get orders from New York police for up to 250 Model 3 vehicles.Tesla Motors not only attracted the interest of a large number of consumers, but also attracted the interest of car rental companies and relevant government agencies. Model S already existed in the motorcade of Fremont police in California.\nNew York police are also considering switching to electric vehicles and planning to purchase a batch of Tesla Motors Model 3.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":752,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"hots":[{"id":355873679,"gmtCreate":1617063685791,"gmtModify":1634522880675,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and commeNt Pls","listText":"Like and commeNt Pls","text":"Like and commeNt Pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/355873679","repostId":"1197127356","repostType":4,"isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":815185817,"gmtCreate":1630656717439,"gmtModify":1631891270579,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/815185817","repostId":"1180182954","repostType":4,"repost":{"id":"1180182954","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1630656423,"share":"https://www.laohu8.com/m/news/1180182954?lang=&edition=full","pubTime":"2021-09-03 16:07","market":"us","language":"en","title":"Beyond Meat shares fell 1.26% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1180182954","media":"Tiger Newspress","summary":"Beyond Meat shares fell 1.26% in premarket trading.\nBeyond Meat Inc.'s chief operating officer stepp","content":"<p>Beyond&nbsp;Meat&nbsp;shares&nbsp;fell&nbsp;1.26%&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/61141bf8abf34b81530d638337cc3ace\" tg-width=\"875\" tg-height=\"613\" referrerpolicy=\"no-referrer\">Beyond Meat Inc.'s chief operating officer stepped down this week, the company announced Thursday, less than two years after his arrival.</p>\n<p>Beyond Meat&nbsp;did not state a reason for the departure in a disclosure filed with the Securities and Exchange Commission on Thursday afternoon, saying only that COO Sanjay Shah notified the company on Monday that he was stepping down immediately.</p>\n<p>Shah arrived in September 2019 from Tesla Inc., where he had been in charge of the electric-car company's solar efforts for less than two years before leaving. Before that, Shah spent more than seven years at Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> As COO of Beyond Meat, he was in charge of global operations and production, an important role for the meat-alternative company as it attempts to scale production of its food products.</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>Beyond Meat shares fell 1.26% in premarket trading</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nBeyond Meat shares fell 1.26% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-03 16:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Beyond&nbsp;Meat&nbsp;shares&nbsp;fell&nbsp;1.26%&nbsp;in&nbsp;premarket&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/61141bf8abf34b81530d638337cc3ace\" tg-width=\"875\" tg-height=\"613\" referrerpolicy=\"no-referrer\">Beyond Meat Inc.'s chief operating officer stepped down this week, the company announced Thursday, less than two years after his arrival.</p>\n<p>Beyond Meat&nbsp;did not state a reason for the departure in a disclosure filed with the Securities and Exchange Commission on Thursday afternoon, saying only that COO Sanjay Shah notified the company on Monday that he was stepping down immediately.</p>\n<p>Shah arrived in September 2019 from Tesla Inc., where he had been in charge of the electric-car company's solar efforts for less than two years before leaving. Before that, Shah spent more than seven years at Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> As COO of Beyond Meat, he was in charge of global operations and production, an important role for the meat-alternative company as it attempts to scale production of its food products.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BYND":"Beyond Meat, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180182954","content_text":"Beyond Meat shares fell 1.26% in premarket trading.\nBeyond Meat Inc.'s chief operating officer stepped down this week, the company announced Thursday, less than two years after his arrival.\nBeyond Meat did not state a reason for the departure in a disclosure filed with the Securities and Exchange Commission on Thursday afternoon, saying only that COO Sanjay Shah notified the company on Monday that he was stepping down immediately.\nShah arrived in September 2019 from Tesla Inc., where he had been in charge of the electric-car company's solar efforts for less than two years before leaving. Before that, Shah spent more than seven years at Amazon.com Inc. $(AMZN)$ As COO of Beyond Meat, he was in charge of global operations and production, an important role for the meat-alternative company as it attempts to scale production of its food products.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":389,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":861251629,"gmtCreate":1632501269461,"gmtModify":1632714996631,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/861251629","repostId":"2169153886","repostType":4,"repost":{"id":"2169153886","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1632494459,"share":"https://www.laohu8.com/m/news/2169153886?lang=&edition=full","pubTime":"2021-09-24 22:40","market":"us","language":"en","title":"Friday's Market Minute: Takeaways From Another Volatile Earnings Season","url":"https://stock-news.laohu8.com/highlight/detail?id=2169153886","media":"Benzinga","summary":"For many, Nike’s (NYSE: NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was one worth noting.","content":"<blockquote>\n <b>Each quarter’s reports have brought on their own set of hills and valleys. Here is the Summary...</b>\n</blockquote>\n<p>For many, <b>Nike’s </b>(NYSE:NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was <a href=\"https://laohu8.com/S/AONE.U\">one</a> worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys.</p>\n<p>The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well above year-ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, but these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. The earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAANG stocks, <b>Amazon </b>(NASDAQ:AMZN) was the only company that reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on the top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</p>\n<p>For many, Nike’s quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys. The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well-above year ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. Earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAAMG stocks, Amazon was the only company who reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</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>Friday's Market Minute: Takeaways From Another Volatile Earnings Season</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nFriday's Market Minute: Takeaways From Another Volatile Earnings Season\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-09-24 22:40</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n <b>Each quarter’s reports have brought on their own set of hills and valleys. Here is the Summary...</b>\n</blockquote>\n<p>For many, <b>Nike’s </b>(NYSE:NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was <a href=\"https://laohu8.com/S/AONE.U\">one</a> worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys.</p>\n<p>The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well above year-ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, but these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. The earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAANG stocks, <b>Amazon </b>(NASDAQ:AMZN) was the only company that reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on the top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</p>\n<p>For many, Nike’s quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys. The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well-above year ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.</p>\n<p>Plus, not only was there a record amount of companies beating earnings estimates, these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. Earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.</p>\n<p>Within the heavily traded and scrutinized FAAMG stocks, Amazon was the only company who reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.</p>\n<p>While it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","NKE":"耐克"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2169153886","content_text":"Each quarter’s reports have brought on their own set of hills and valleys. Here is the Summary...\n\nFor many, Nike’s (NYSE:NKE) quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third-quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys.\nThe average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well above year-ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.\nPlus, not only was there a record amount of companies beating earnings estimates, but these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. The earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.\nWithin the heavily traded and scrutinized FAANG stocks, Amazon (NASDAQ:AMZN) was the only company that reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on the top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.\nWhile it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.\nFor many, Nike’s quarterly report means the unofficial end to earnings season. While bank earnings are now only a few weeks away, marking the start to the third quarter reports, the second quarter was one worth noting. Since the pandemic sent the broader market into disarray roughly a year and a half ago, each quarter’s reports have brought on their own set of hills and valleys. The average earnings growth for the period was over 93%, which is the highest on record since 4Q of 2009. On a quarter-over-quarter basis, earnings grew over 6% on average from 1Q21 to 2Q21 and were well-above year ago levels (although facing relatively easy comps to last year’s economic backdrop). Revenue also grew substantially, posting the largest improvement compared to the last nine quarters.\nPlus, not only was there a record amount of companies beating earnings estimates, these companies also beat expectations by a much higher margin compared to historical levels. Over 87% of companies beat in 2Q, which tied for the highest percentage beat rate in history. Earnings beat was also 87% in 1Q21, 79% in 4Q20, 84% in 3Q20, and 82% in 2Q20 – showing the real strength of the last five quarters. For historical context, the average beat rate since 1994 stands at roughly 66%.\nWithin the heavily traded and scrutinized FAAMG stocks, Amazon was the only company who reported revenue that disappointed the Street. It was also the e-commerce giant’s first miss since 3Q of 2018, and the stock saw a good amount of selling following the miss (-7.5%). Nike also saw some pressure after reporting a bottom-line beat, but a miss on top line. The athletic apparel retailer highlighted one major theme that has been mentioned consistently throughout the quarter: supply chain disruptions. Nike’s management said its fiscal 1Q sales would have been higher than reported, if not for supply-chain issues.\nWhile it is unclear how to gauge when this headwind will be resolved, as several parts of the world continue in a reduced capacity or lockdown, this is a pressure that is extended into the upcoming quarter.","news_type":1,"symbols_score_info":{"AMZN":0.9,"NKE":0.9}},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":891846025,"gmtCreate":1628382526267,"gmtModify":1633751393331,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/891846025","repostId":"1119792130","repostType":4,"isVote":1,"tweetType":1,"viewCount":386,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181944410,"gmtCreate":1623372013230,"gmtModify":1634034101154,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"help me comment and like thanks","listText":"help me comment and like thanks","text":"help me comment and like thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/181944410","repostId":"1184070773","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":882763399,"gmtCreate":1631721718811,"gmtModify":1631889082973,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/882763399","repostId":"1125984951","repostType":4,"isVote":1,"tweetType":1,"viewCount":444,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343781282,"gmtCreate":1617755585646,"gmtModify":1634296732145,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/343781282","repostId":"1177263079","repostType":4,"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352139383,"gmtCreate":1616903444342,"gmtModify":1634523589384,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Please comment and like","listText":"Please comment and like","text":"Please comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/352139383","repostId":"1114428323","repostType":4,"isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":841058181,"gmtCreate":1635864594448,"gmtModify":1635864594689,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":12,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/841058181","repostId":"2180020937","repostType":4,"repost":{"id":"2180020937","kind":"news","pubTimestamp":1635846331,"share":"https://www.laohu8.com/m/news/2180020937?lang=&edition=full","pubTime":"2021-11-02 17:45","market":"us","language":"en","title":"Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now","url":"https://stock-news.laohu8.com/highlight/detail?id=2180020937","media":"MoneyWise","summary":"Inflation is high. You might as well profit from it.High inflation rates in the country have become a serious concern on Wall Street.But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.In a 1981 letter to Berkshire shareholders, Buffett highlighted tw","content":"<p>Inflation is high. You might as well profit from it.</p>\n<p><img src=\"https://static.tigerbbs.com/143c38befb27f09743294aafaffbe94a\" tg-width=\"1800\" tg-height=\"800\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p>\n<p>High inflation rates in the country have become a serious concern on Wall Street.</p>\n<p>But fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.</p>\n<p>Buffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.</p>\n<p>In a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.</p>\n<p>In other words, aim to invest in asset-light businesses with pricing power.</p>\n<p>Let’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.</p>\n<p><b>Nike (NKE)</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0a24fd7cb9b4e01313c7bb848af6da9d\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>TY Lim/Shutterstock</span></p>\n<p>Nike is a global footwear powerhouse that commands high customer loyalty.</p>\n<p>Customers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.</p>\n<p>Despite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.</p>\n<p>The company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.</p>\n<p>Management believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.</p>\n<p>Amazingly, profit margins may keep expanding, even as operating costs rise with inflation.</p>\n<p>Nike shares are up about 19% so far in 2021.</p>\n<p><b>Apple (AAPL)</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b22460a66469a2da0380edd32d454c84\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>Vytautas Kielaitis/Shutterstock</span></p>\n<p>Global demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.</p>\n<p>Strong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.</p>\n<p>Customers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.</p>\n<p>The company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.</p>\n<p>Apple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.</p>\n<p>Warren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.</p>\n<p>Apple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.</p>\n<p><b>Levi Strauss &amp; Co. (LEVI)</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/71b31165e275a966ad050139a054c73a\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>dean bertoncelj/Shutterstock</span></p>\n<p>A market leader in the denim business, Levi Strauss has been firing on all cylinders of late.</p>\n<p>Specifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.</p>\n<p>In the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.</p>\n<p>In fact, management proactively started adjusting its pricing for inflation back in 2020.</p>\n<p>The company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.</p>\n<p>Levi shares are up more than 30% in 2021.</p>\n<p><b>The ultimate 'forever asset'?</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d5d520eb27cdf18f25a787cd9145eb1b\" tg-width=\"1200\" tg-height=\"500\" width=\"100%\" height=\"auto\"><span>MNStudio/Shutterstock</span></p>\n<p>Warren Buffett once said that his favorite holding period is forever.</p>\n<p>But forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.</p>\n<p>But there might be one inflation safe haven that's worth holding forever — U.S. farmland.</p>\n<p>No matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.</p>\n<p>These days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.</p>\n<p>You’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.</p>\n<p><i>This article provides information only and should not be construed as advice. It is provided without warranty of any kind.</i></p>","source":"lsy1621813427262","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>Warren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nWarren Buffett says this is the best type of business to own when inflation spikes — in other words, what you should buy right now\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-11-02 17:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://moneywise.com/investing/stocks/warren-buffett-inflation-stocks><strong>MoneyWise</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Inflation is high. You might as well profit from it.\n\nHigh inflation rates in the country have become a serious concern on Wall Street.\nBut fortunately for everyday investors, Berkshire Hathaway chief...</p>\n\n<a href=\"https://moneywise.com/investing/stocks/warren-buffett-inflation-stocks\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BRK.A":"伯克希尔","INTC":"英特尔","AAPL":"苹果","NKE":"耐克","LEVI":"李维斯","BRK.B":"伯克希尔B"},"source_url":"https://moneywise.com/investing/stocks/warren-buffett-inflation-stocks","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2180020937","content_text":"Inflation is high. You might as well profit from it.\n\nHigh inflation rates in the country have become a serious concern on Wall Street.\nBut fortunately for everyday investors, Berkshire Hathaway chief Warren Buffett has plenty of experience in navigating such an environment.\nBuffett managed a stock portfolio through periods of double-digit inflation rates in the 1970s and has plenty of advice on what to own when consumer prices spike.\nIn a 1981 letter to Berkshire shareholders, Buffett highlighted two characteristics that make a business well adapted to an inflationary environment: 1) an ability to increase prices easily, and 2) an ability to take on more business without having to spend too much in order to do it.\nIn other words, aim to invest in asset-light businesses with pricing power.\nLet’s take a quick look at three companies that fit that description. One (or all) of them might be worth purchasing with your spare pennies.\nNike (NKE)\nTY Lim/Shutterstock\nNike is a global footwear powerhouse that commands high customer loyalty.\nCustomers are willing to pay top dollar for signature gear associated with high-profile athletes like LeBron James and Michael Jordan.\nDespite inflationary pressures, Nike continues to expand gross margins and post solid returns on equity well above 30%.\nThe company is also capturing the full price of its products in an increasingly digital, direct-to-consumer business model.\nManagement believes digital sales could continue to grow from 20% of revenue currently to about 40% of the business by 2025. And price increases could kick in as early as next year.\nAmazingly, profit margins may keep expanding, even as operating costs rise with inflation.\nNike shares are up about 19% so far in 2021.\nApple (AAPL)\nVytautas Kielaitis/Shutterstock\nGlobal demand for Apple’s premium-priced hardware is growing, as are adoption rates for its high-margin Apple services.\nStrong brand identity, user friendliness, and a wide range of fully integrated products are powerful attributes that aren’t going away any time soon.\nCustomers just can’t afford to live outside the Apple ecosystem. That gives the tech giant more freedom to play with pricing as inflation spikes.\nThe company’s latest M1 chips, which will gradually replace Intel’s CPUs in every single Mac, underscore its commitment to constant innovation.\nApple’s ability to pass rising costs to a global consumer base without significant loss of sales volumes is undeniable.\nWarren Buffett has allowed Apple to grow to 40% of Berkshire Hathaway’s investments portfolio for good reason: The business just keeps growing profits through all economic cycles.\nApple is up about 13% year to date and trades at nearly $150 per share. But if you’re on the fence about jumping in at the current level, some apps might give you a free share of Apple just for signing up.\nLevi Strauss & Co. (LEVI)\ndean bertoncelj/Shutterstock\nA market leader in the denim business, Levi Strauss has been firing on all cylinders of late.\nSpecifically, its well-known brand and a flexible business model have enabled management to grow the top line without sacrificing pricing power.\nIn the most recent quarter, revenue increased 41% while adjusted gross margin improved 390 basis points to 57.5%.\nIn fact, management proactively started adjusting its pricing for inflation back in 2020.\nThe company also sources raw materials from 24 different countries. And that kind of supply chain diversification provides Levi Strauss with plenty of flexibility during times of crisis.\nLevi shares are up more than 30% in 2021.\nThe ultimate 'forever asset'?\nMNStudio/Shutterstock\nWarren Buffett once said that his favorite holding period is forever.\nBut forever is a long time, and since companies rise and fall, growing your wealth by never selling a share may not be the best strategy.\nBut there might be one inflation safe haven that's worth holding forever — U.S. farmland.\nNo matter how high or fast consumer prices climb, people still need to eat. And it just so happens that Buffett’s good friend Bill Gates is America’s largest private owner of farmland.\nThese days, new platforms allow you to invest in U.S. farmland by taking stake in a farm of your choice.\nYou’ll earn cash income from the leasing fees and crop sales. And of course, you’ll benefit from any long-term appreciation on top of that.\nThis article provides information only and should not be construed as advice. It is provided without warranty of any kind.","news_type":1,"symbols_score_info":{"AAPL":0.9,"BRK.A":0.9,"BRK.B":0.9,"INTC":0.9,"LEVI":0.9,"NKE":0.9}},"isVote":1,"tweetType":1,"viewCount":430,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":177458815,"gmtCreate":1627258824937,"gmtModify":1633766853773,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and comment pls!","listText":"Like and comment pls!","text":"Like and comment pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/177458815","repostId":"1100772026","repostType":4,"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151147291,"gmtCreate":1625069081413,"gmtModify":1633945158450,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/151147291","repostId":"1105779613","repostType":4,"isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139426788,"gmtCreate":1621651453144,"gmtModify":1634187376672,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like n comment","listText":"Like n comment","text":"Like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/139426788","repostId":"2137990425","repostType":4,"isVote":1,"tweetType":1,"viewCount":462,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":867646573,"gmtCreate":1633262446095,"gmtModify":1633262446977,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like pls!","listText":"Like pls!","text":"Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/867646573","repostId":"1195986801","repostType":4,"repost":{"id":"1195986801","kind":"news","pubTimestamp":1633237941,"share":"https://www.laohu8.com/m/news/1195986801?lang=&edition=full","pubTime":"2021-10-03 13:12","market":"sh","language":"en","title":"Why Tesla's Q3 Numbers Are 'Eye Popping' and Hard to Poke Holes In","url":"https://stock-news.laohu8.com/highlight/detail?id=1195986801","media":"Benzinga","summary":"Tesla, Inc. reported Saturday record quarterly deliveries despite the surrounding turbulence. An analyst at Wedbush Securities sees the performance as \"massive.\". The Tesla Analyst:Daniel Ives maintained an Outperform rating and $1,000 price target for Tesla shares.The Tesla Thesis:Tesla's third-quarter deliveries of 241,000 beat even the bull-case whisper number on the Street, analyst Ives said in a note. The strength, the analyst said, was driven byrobust Model 3/Y salesof 232, 000.Total produ","content":"<div>\n<p>Tesla, Inc. reported Saturday record quarterly deliveries despite the surrounding turbulence. An analyst at Wedbush Securities sees the performance as \"massive.\"\nThe Tesla Analyst:Daniel Ives ...</p>\n\n<a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/10/23207870/why-teslas-q3-numbers-are-eye-popping-and-hard-to-poke-holes-in\">Web Link</a>\n\n</div>\n","source":"lsy1606299360108","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 Tesla's Q3 Numbers Are 'Eye Popping' and Hard to Poke Holes In</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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 Tesla's Q3 Numbers Are 'Eye Popping' and Hard to Poke Holes In\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-10-03 13:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/analyst-ratings/analyst-color/21/10/23207870/why-teslas-q3-numbers-are-eye-popping-and-hard-to-poke-holes-in><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tesla, Inc. reported Saturday record quarterly deliveries despite the surrounding turbulence. An analyst at Wedbush Securities sees the performance as \"massive.\"\nThe Tesla Analyst:Daniel Ives ...</p>\n\n<a href=\"https://www.benzinga.com/analyst-ratings/analyst-color/21/10/23207870/why-teslas-q3-numbers-are-eye-popping-and-hard-to-poke-holes-in\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/analyst-ratings/analyst-color/21/10/23207870/why-teslas-q3-numbers-are-eye-popping-and-hard-to-poke-holes-in","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195986801","content_text":"Tesla, Inc. reported Saturday record quarterly deliveries despite the surrounding turbulence. An analyst at Wedbush Securities sees the performance as \"massive.\"\nThe Tesla Analyst:Daniel Ives maintained an Outperform rating and $1,000 price target for Tesla shares.\nThe Tesla Thesis:Tesla's third-quarter deliveries of 241,000 beat even the bull-case whisper number on the Street, analyst Ives said in a note. The strength, the analyst said, was driven byrobust Model 3/Y salesof 232, 000.\nTotal production in the quarter was 238,000, about 10,000 ahead of Wedbush's and Street estimates, the analyst said.\n\"Taking a step back, with the chip shortage a major overhang on the auto space and logistical issues globally, these delivery numbers were \"eye-popping\" and speak to an EV demand trajectory that looks quite robust for Tesla heading into 4Q and 2022,\" Ives wrote in the note.\nWedbush's estimate of 150,000 deliveries for September, according to the analyst, is a clear indicator of the green tidal wave taking hold for Tesla across the board. China demand may have rebounded in the quarter and will be a focus for the bulls digesting these results, he added.\n\"In a nutshell, these numbers are hard to poke holes in and will be a major feather in the cap for the bulls on Monday morning and should improve broader sentiment on the EV space as a whole,\" Wedbush said.\nTesla Price Action:Tesla shares closed Friday's session down 0.03% at $775.22 and were down an incremental 0.03% in after-hours trading.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":434,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":892813371,"gmtCreate":1628647593093,"gmtModify":1633745407100,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like pls!","listText":"Like pls!","text":"Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/892813371","repostId":"1100710510","repostType":4,"isVote":1,"tweetType":1,"viewCount":324,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156360623,"gmtCreate":1625195839762,"gmtModify":1633942645546,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"pls like n comment. 👍","listText":"pls like n comment. 👍","text":"pls like n comment. 👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":11,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/156360623","repostId":"2148878483","repostType":4,"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":846093551,"gmtCreate":1636033934277,"gmtModify":1636033993670,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"To the moon!!!!!","listText":"To the moon!!!!!","text":"To the moon!!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/846093551","repostId":"1103660582","repostType":4,"isVote":1,"tweetType":1,"viewCount":429,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":837848037,"gmtCreate":1629878233929,"gmtModify":1633681762101,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/837848037","repostId":"2162087564","repostType":4,"isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899778077,"gmtCreate":1628217854299,"gmtModify":1633752494677,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and comment pls!","listText":"Like and comment pls!","text":"Like and comment pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/899778077","repostId":"1188253337","repostType":4,"repost":{"id":"1188253337","kind":"news","pubTimestamp":1628216944,"share":"https://www.laohu8.com/m/news/1188253337?lang=&edition=full","pubTime":"2021-08-06 10:29","market":"us","language":"en","title":"The S&P 500 Can Rise Another 6% This Year, Goldman Sachs Says. Why It’s So Upbeat.","url":"https://stock-news.laohu8.com/highlight/detail?id=1188253337","media":"Barrons","summary":"Goldman Sachs strategists raised their target for the S&P 500, saying corporate earnings have been t","content":"<p>Goldman Sachs strategists raised their target for the S&amp;P 500, saying corporate earnings have been too strong to ignore and that bond yields are remaining stubbornly low.</p>\n<p>The investment bank now says the market benchmark could reach 4700 by year-end, up from its previous call of 4300. That implies a gain of just over 6% from the index’s current level.</p>\n<p>One of the main factors behind the more upbeat view is that second-quarter earnings are coming in far higher than expected, exceeding expectations&nbsp;by historically wide margins. The Goldman strategists now expect aggregate earnings per share for companies in the S&amp;P 500 will be $207 this year, up from a previous forecast of $193. For 2022, they are expecting aggregate EPS of $212, up from $202.</p>\n<p>The forecasts represent respective year-over-year growth of 45% and 2%, as pent-up demand drives this year’s profits past 2019 levels, before growth moderates in 2022. The strategists incorporated a corporate tax-rate increase into their 2022 profit projection, reducing it slightly.</p>\n<p>The other key consideration is that valuations could remain fairly high because&nbsp;bond yields remain low. Goldman sees stocks in the index trading at an average of 22.1 times the per-share earnings expected for the 2022, slightly higher than the current 21 times. Low bond yields reduce the appeal of investing in fixed-income securities, as well as increasing the current value of future profits.</p>\n<p>“Lower interest rates than expected support a stable forward P/E multiple of 22x,” wrote David Kostin, Goldman Sachs’ chief U.S. equity strategist.</p>\n<p>The strategists lowered their forecast for the 10-year Treasury yield to 1.6% from 1.9% by year-end. Yields are now at 1.2%, even as inflation expectations have risen and some market participants have seen buying the debt as a good trade.</p>\n<p><b>I</b>nflation is expected to be a bit over 2% for the long term, according to St. Louis Fed data, and bond investors usually demand a return greater than the rate of inflation. But the 10-year Treasury yield has remained far below expected inflation, even after a period during which some investors were&nbsp;piling into the debt, sending the price up and the yield down.</p>\n<p>Goldman’s 2021 target for the S&amp;P 500 implies an earnings yield for stocks that would be 3 percentage points higher than what investors can get from bonds at 1.6%. And that makes stock valuations look reasonable.</p>\n<p>The current Goldilocks environment—a sturdy economy, but with low bond yields—is keeping stocks in favor.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The S&P 500 Can Rise Another 6% This Year, Goldman Sachs Says. Why It’s So Upbeat.</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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 S&P 500 Can Rise Another 6% This Year, Goldman Sachs Says. Why It’s So Upbeat.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-06 10:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/stock-market-sp-500-more-gains-goldman-sachs-51628182610?mod=RTA><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Goldman Sachs strategists raised their target for the S&P 500, saying corporate earnings have been too strong to ignore and that bond yields are remaining stubbornly low.\nThe investment bank now says ...</p>\n\n<a href=\"https://www.barrons.com/articles/stock-market-sp-500-more-gains-goldman-sachs-51628182610?mod=RTA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/stock-market-sp-500-more-gains-goldman-sachs-51628182610?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188253337","content_text":"Goldman Sachs strategists raised their target for the S&P 500, saying corporate earnings have been too strong to ignore and that bond yields are remaining stubbornly low.\nThe investment bank now says the market benchmark could reach 4700 by year-end, up from its previous call of 4300. That implies a gain of just over 6% from the index’s current level.\nOne of the main factors behind the more upbeat view is that second-quarter earnings are coming in far higher than expected, exceeding expectations by historically wide margins. The Goldman strategists now expect aggregate earnings per share for companies in the S&P 500 will be $207 this year, up from a previous forecast of $193. For 2022, they are expecting aggregate EPS of $212, up from $202.\nThe forecasts represent respective year-over-year growth of 45% and 2%, as pent-up demand drives this year’s profits past 2019 levels, before growth moderates in 2022. The strategists incorporated a corporate tax-rate increase into their 2022 profit projection, reducing it slightly.\nThe other key consideration is that valuations could remain fairly high because bond yields remain low. Goldman sees stocks in the index trading at an average of 22.1 times the per-share earnings expected for the 2022, slightly higher than the current 21 times. Low bond yields reduce the appeal of investing in fixed-income securities, as well as increasing the current value of future profits.\n“Lower interest rates than expected support a stable forward P/E multiple of 22x,” wrote David Kostin, Goldman Sachs’ chief U.S. equity strategist.\nThe strategists lowered their forecast for the 10-year Treasury yield to 1.6% from 1.9% by year-end. Yields are now at 1.2%, even as inflation expectations have risen and some market participants have seen buying the debt as a good trade.\nInflation is expected to be a bit over 2% for the long term, according to St. Louis Fed data, and bond investors usually demand a return greater than the rate of inflation. But the 10-year Treasury yield has remained far below expected inflation, even after a period during which some investors were piling into the debt, sending the price up and the yield down.\nGoldman’s 2021 target for the S&P 500 implies an earnings yield for stocks that would be 3 percentage points higher than what investors can get from bonds at 1.6%. And that makes stock valuations look reasonable.\nThe current Goldilocks environment—a sturdy economy, but with low bond yields—is keeping stocks in favor.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137732191,"gmtCreate":1622389233613,"gmtModify":1634101876272,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/137732191","repostId":"2138948877","repostType":4,"isVote":1,"tweetType":1,"viewCount":345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190065893,"gmtCreate":1620555168112,"gmtModify":1634198054852,"author":{"id":"3573788625955643","authorId":"3573788625955643","name":"Alvin1975","avatar":"https://static.tigerbbs.com/beba0668af2d109b87221754e75935b3","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573788625955643","authorIdStr":"3573788625955643"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/190065893","repostId":"1106882084","repostType":4,"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}