reeve的个人主页 - 老虎社区

reeve

reeve

Started Jan 26, 2021 S$4100

IP属地：未知

711关注

244粉丝

5主题

0勋章

2021-06-07

Go NIO..!

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2021-03-20

$NIO Inc.(NIO)$short term IMO, next week is critical. It needs to break the top line to reverse and stay uptrend, else we may probably test 30 and go 20 since 30 support might not be strong to hold.But I do believe NIO can break the high instead of moving down! 💪🏼Let's discussion and share your opinion on the comment below on the forward movement of the price. Cheers all 🐯 folks who is holding on to $NIO$...! Let's make money..! *Disclaimer*: This does not constitute an offer to sell or a solicitation of an offer to buy. Just for educational purposes and sharing of my personal opinion only 😉

2021-04-11

Time to buy Pfizer and BioNTech?

抱歉，原内容已删除

2021-02-04

$Gevo(GEVO)$🚀 soon! Cheers all!

2021-02-08

Time to buy penny stock?

The Biden Stock Market Won’t Be Like the Trump Market. What to Expect.<blockquote>拜登股市不会像特朗普市场。期待什么。</blockquote>

2021-06-30

😱 Wow...

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2021-06-06

Yes sure it will..! Its just a matter of time..!

Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>

2021-02-15

$Pfizer(PFE)$anyone with me?

2021-11-06

$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.

2021-06-19

Yes! I'm still waiting to enter the market after some profit taking 😅

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All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. 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Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":4501,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842147275,"gmtCreate":1636158660004,"gmtModify":1636158663190,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.Tell us your thoughts for a constructive&nbsp;sharing..! Where do you think the price&nbsp;are heading to.&nbsp;","listText":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.Tell us your thoughts for a constructive&nbsp;sharing..! Where do you think the price&nbsp;are heading to.&nbsp;","text":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.Tell us your thoughts for a constructive sharing..! Where do you think the price are heading to.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/842147275","isVote":1,"tweetType":1,"viewCount":3962,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":842145887,"gmtCreate":1636158515905,"gmtModify":1636158518644,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.","listText":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.","text":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/842145887","isVote":1,"tweetType":1,"viewCount":5499,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3479274729583717","authorId":"3479274729583717","name":"richegg","avatar":"https://static.laohu8.com/picture62","crmLevel":1,"crmLevelSwitch":0,"idStr":"3479274729583717","authorIdStr":"3479274729583717"},"content":"Arabic countries look for green alternatives too, fossils will have end. would it be surprising if Aramco buy out gevo? their 2020 net income is ~$50billion, so buying gevo for $10 billion is snack for them. hold it!!","text":"Arabic countries look for green alternatives too, fossils will have end. would it be surprising if Aramco buy out gevo? their 2020 net income is ~$50billion, so buying gevo for $10 billion is snack for them. hold it!!","html":"Arabic countries look for green alternatives too, fossils will have end. would it be surprising if Aramco buy out gevo? their 2020 net income is ~$50billion, so buying gevo for $10 billion is snack for them. hold it!!"},{"author":{"id":"9000000000000362","authorId":"9000000000000362","name":"VincentHughes","avatar":"https://static.tigerbbs.com/35ff63f0788dbb73e52433fbc3b24649","crmLevel":1,"crmLevelSwitch":0,"idStr":"9000000000000362","authorIdStr":"9000000000000362"},"content":"great pleasure to see the shorts selling large amounts and that they cannot lower it. Could it be that on one of these days they will have to cover 10? good news came up continuely, waiting to short squeeze🤑🤑🤑","text":"great pleasure to see the shorts selling large amounts and that they cannot lower it. Could it be that on one of these days they will have to cover 10? good news came up continuely, waiting to short squeeze🤑🤑🤑","html":"great pleasure to see the shorts selling large amounts and that they cannot lower it. Could it be that on one of these days they will have to cover 10? good news came up continuely, waiting to short squeeze🤑🤑🤑"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":846722143,"gmtCreate":1636115957622,"gmtModify":1636116260544,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Happy weekend folks..!&nbsp;","listText":"Happy weekend folks..!&nbsp;","text":"Happy weekend folks..!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/846722143","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":5364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":848432427,"gmtCreate":1636018405809,"gmtModify":1636018408779,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Happy Diwali","listText":"Happy Diwali","text":"Happy Diwali","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848432427","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":5024,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841497907,"gmtCreate":1635931754865,"gmtModify":1635931758051,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Happy Dewali..!&nbsp;","listText":"Happy Dewali..!&nbsp;","text":"Happy Dewali..!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841497907","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":4069,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":841071585,"gmtCreate":1635865622990,"gmtModify":1635865623799,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Fun game","listText":"Fun game","text":"Fun game","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841071585","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":4204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":849711972,"gmtCreate":1635777130034,"gmtModify":1635777130892,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Come let's have fun","listText":"Come let's have fun","text":"Come let's have fun","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/849711972","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":845,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840472150,"gmtCreate":1635681624908,"gmtModify":1635681625740,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Great fun..!&nbsp;","listText":"Great fun..!&nbsp;","text":"Great fun..!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/840472150","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":926,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840413197,"gmtCreate":1635669978672,"gmtModify":1635674460431,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Will $OCGN&nbsp;get FDA approval for Covaxin? India is waiting to produce over 5 billion Covaxin likely&nbsp;by the end of 2022. This will probably have some great impact in fighting the&nbsp;pandemic. November 3 is an important date for Covaxin to be realised. Expecting&nbsp;huge and active&nbsp;trading for $OCGN in the&nbsp;coming week! Ocugen has already sought regulatory approval from authorities for Covaxin to be used in Canada. The risk at this point of timeseems to be low but the gain is exceptionally rewarding. Let's hope for a gap up on Monday..!&nbsp;Disclaimer: This does not constitute an offer to sell or a solicitation of an offer to buy. Just my personal opinion.","listText":"Will $OCGN&nbsp;get FDA approval for Covaxin? India is waiting to produce over 5 billion Covaxin likely&nbsp;by the end of 2022. This will probably have some great impact in fighting the&nbsp;pandemic. November 3 is an important date for Covaxin to be realised. Expecting&nbsp;huge and active&nbsp;trading for $OCGN in the&nbsp;coming week! Ocugen has already sought regulatory approval from authorities for Covaxin to be used in Canada. The risk at this point of timeseems to be low but the gain is exceptionally rewarding. Let's hope for a gap up on Monday..!&nbsp;Disclaimer: This does not constitute an offer to sell or a solicitation of an offer to buy. Just my personal opinion.","text":"Will $OCGN get FDA approval for Covaxin? India is waiting to produce over 5 billion Covaxin likely by the end of 2022. This will probably have some great impact in fighting the pandemic. November 3 is an important date for Covaxin to be realised. Expecting huge and active trading for $OCGN in the coming week! Ocugen has already sought regulatory approval from authorities for Covaxin to be used in Canada. The risk at this point of timeseems to be low but the gain is exceptionally rewarding. Let's hope for a gap up on Monday..! Disclaimer: This does not constitute an offer to sell or a solicitation of an offer to buy. Just my personal opinion.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/840413197","isVote":1,"tweetType":1,"viewCount":998,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000597","authorId":"9000000000000597","name":"EricVaughan","avatar":"https://static.tigerbbs.com/9cc6c50814de5ac8ec7cd0ae334fd125","crmLevel":1,"crmLevelSwitch":0,"idStr":"9000000000000597","authorIdStr":"9000000000000597"},"content":"Wait and see, if the transaction is completed, it will certainly make the share price of the relevant market grow rapidly, which may be a good investment opportunity.","text":"Wait and see, if the transaction is completed, it will certainly make the share price of the relevant market grow rapidly, which may be a good investment opportunity.","html":"Wait and see, if the transaction is completed, it will certainly make the share price of the relevant market grow rapidly, which may be a good investment opportunity."},{"author":{"id":"9000000000000494","authorId":"9000000000000494","name":"MamieBenson","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"idStr":"9000000000000494","authorIdStr":"9000000000000494"},"content":"India's trading will indeed have a great impact on the stock market, but I will still wait and see whether their contracts can be carried out better. After all, the amount involved is huge.","text":"India's trading will indeed have a great impact on the stock market, but I will still wait and see whether their contracts can be carried out better. After all, the amount involved is huge.","html":"India's trading will indeed have a great impact on the stock market, but I will still wait and see whether their contracts can be carried out better. After all, the amount involved is huge."}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":840163770,"gmtCreate":1635607646916,"gmtModify":1635607648609,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Let's have fun..! Happy Halloween to all Tiger folks..!&nbsp;","listText":"Let's have fun..! Happy Halloween to all Tiger folks..!&nbsp;","text":"Let's have fun..! Happy Halloween to all Tiger folks..!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/840163770","repostId":"850756569","repostType":1,"repost":{"id":850756569,"gmtCreate":1634631211448,"gmtModify":1635853120757,"author":{"id":"36984908995200","authorId":"36984908995200","name":"小虎活动","avatar":"https://static.tigerbbs.com/9e396d03155923b283948d2dec9191f8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"36984908995200","authorIdStr":"36984908995200"},"themes":[],"title":"[Halloween Game] Trade or Treat!","htmlText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","listText":"Hello, dear Tigers!&nbsp; Happy&nbsp;Halloween!&nbsp;🎃🎃🎃&nbsp;&nbsp; <a href=\"https://www.tigerbrokers.com.sg/activity/market/2021/halloween/?lang=en_US#/\" target=\"_blank\">Tap&nbsp;here&nbsp;to&nbsp;play the Halloween game,&nbsp;and&nbsp;you&nbsp;stand&nbsp;a&nbsp;chance&nbsp;to win various rewards!&nbsp;</a> Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1.&nbsp;How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'.&nbsp; 2.&nbsp;How to collect points? Each player has 30 seconds to catch falling candies while av","text":"Hello, dear Tigers! Happy Halloween! 🎃🎃🎃 Tap here to play the Halloween game, and you stand a chance to win various rewards! Promotion Period: October 27, 2021 18:00 - November 9, 2021 18:00 (SGT) 1. How to Participate? All Tiger clients may collect points which can be used to redeem rewards by taking part in the Trade or Treating Game. All existing Tiger clients will have 2 game attempts. Clients can get more game attempts by completing different tasks, such as 'Invite a friend' or 'Share Halloween Game'. 2. How to collect points? Each player has 30 seconds to catch falling candies while av","images":[],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/850756569","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":1343,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":825136558,"gmtCreate":1634208149773,"gmtModify":1634208708784,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>scam..!&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>scam..!&nbsp;","text":"$Tiger Brokers(TIGR)$scam..!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/825136558","isVote":1,"tweetType":1,"viewCount":1033,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":881431954,"gmtCreate":1631374725178,"gmtModify":1631891192862,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/881431954","repostId":"1147045390","repostType":4,"repost":{"id":"1147045390","kind":"news","pubTimestamp":1631321547,"share":"https://www.laohu8.com/m/news/1147045390?lang=zh_CN&edition=full","pubTime":"2021-09-11 08:52","market":"us","language":"en","title":"Why Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147045390","media":"Barrons","summary":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple  to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30%","content":"<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.</p><p><blockquote>周五的裁决要求苹果允许开发者为通过苹果应用商店下载的应用程序中的购买提供替代支付方式，这给其收入和利润带来了真实但有限的风险。</blockquote></p><p> In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.</p><p><blockquote>在堡垒之夜发行商Epic Games提起的案件中，美国地区法官Yvonne Gonzalez Rogers发布了一项永久禁令，要求苹果（股票代码：AAPL）允许开发者选择在其应用程序中包含替代支付方式的链接。苹果自己的支付系统从大型开发商那里收取30%的提成。</blockquote></p><p> Data from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.</p><p><blockquote>应用追踪器SensorTower的数据显示，2020年，苹果从App Store获得的总收入为723亿美元，产生的费用估计为217亿美元，约占苹果总收入的7%。其中包括在美国的210亿美元支出，产生约63亿美元的费用，约占年收入的2%。</blockquote></p><p> SensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.</p><p><blockquote>SensorTower估计，2020年App Store中的手机游戏支出为476亿美元，产生143亿美元的费用，略低于苹果总收入的5%。</blockquote></p><p> Gene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.</p><p><blockquote>风险投资公司Loup Capital董事总经理、长期跟踪苹果的前卖方分析师吉恩·蒙斯特(Gene Munster)估计，App Store约占该公司利润的14%。但他认为周五裁决的风险有限。</blockquote></p><p> Munster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.</p><p><blockquote>蒙斯特认为大多数应用程序开发人员将留在苹果系统内。他认为整体收入“最多”会受到2%的阻力，利润可能会受到4%的打击。</blockquote></p><p> “After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”</p><p><blockquote>“在这些变化的第一年之后，app store的增长率将恢复正常，”他说。“最重要的是，这最多是一年的逆风，不会改变苹果未来5年的发展方向。”</blockquote></p><p> Evercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.</p><p><blockquote>Evercore ISI分析师Amit Daryanani在一份研究报告中表示，这一裁决对苹果来说是一次挫折，但鉴于苹果有其他方式从商店创收，包括其不断增长的店内广告业务，最终的影响可能是可控的。他指出，苹果实际上在该案中的一个更大问题上取得了胜利：法官驳回了Epic关于App Store是非法垄断的主张。Daryanani估计苹果每股收益面临的风险为2%至4%。</blockquote></p><p> Wedbush analyst Dan Ives told&nbsp;<i>Barron’s</i>&nbsp;he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.</p><p><blockquote>Wedbush分析师Dan Ives告诉<i>巴伦周刊</i>他认为最坏的情况是收入受到3%至4%的打击，并将这种风险描述为“舍入误差”。虽然Ives表示，华尔街原本预计苹果会全面获胜，但这一喜忧参半的决定消除了该股的悬念，投资者可能会因为解决这个问题而松一口气。</blockquote></p><p> The ruling is more a positive for companies like&nbsp;Spotify Technology&nbsp;and&nbsp;Match Group&nbsp;than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97&nbsp;on&nbsp;Friday, while Spotify and March gained 0.7% and&nbsp;4.2%, respectively.</p><p><blockquote>他表示，这一裁决对Spotify Technology和Match Group等公司来说更多的是积极的，而不是对苹果的负面影响。苹果股价周五下跌3.3%，至148.97美元，Spotify和March分别上涨0.7%和4.</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Apple’s Risk Is Limited<blockquote>为什么苹果的风险有限</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-09-11 08:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.</p><p><blockquote>周五的裁决要求苹果允许开发者为通过苹果应用商店下载的应用程序中的购买提供替代支付方式，这给其收入和利润带来了真实但有限的风险。</blockquote></p><p> In a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.</p><p><blockquote>在堡垒之夜发行商Epic Games提起的案件中，美国地区法官Yvonne Gonzalez Rogers发布了一项永久禁令，要求苹果（股票代码：AAPL）允许开发者选择在其应用程序中包含替代支付方式的链接。苹果自己的支付系统从大型开发商那里收取30%的提成。</blockquote></p><p> Data from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.</p><p><blockquote>应用追踪器SensorTower的数据显示，2020年，苹果从App Store获得的总收入为723亿美元，产生的费用估计为217亿美元，约占苹果总收入的7%。其中包括在美国的210亿美元支出，产生约63亿美元的费用，约占年收入的2%。</blockquote></p><p> SensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.</p><p><blockquote>SensorTower估计，2020年App Store中的手机游戏支出为476亿美元，产生143亿美元的费用，略低于苹果总收入的5%。</blockquote></p><p> Gene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.</p><p><blockquote>风险投资公司Loup Capital董事总经理、长期跟踪苹果的前卖方分析师吉恩·蒙斯特(Gene Munster)估计，App Store约占该公司利润的14%。但他认为周五裁决的风险有限。</blockquote></p><p> Munster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.</p><p><blockquote>蒙斯特认为大多数应用程序开发人员将留在苹果系统内。他认为整体收入“最多”会受到2%的阻力，利润可能会受到4%的打击。</blockquote></p><p> “After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”</p><p><blockquote>“在这些变化的第一年之后，app store的增长率将恢复正常，”他说。“最重要的是，这最多是一年的逆风，不会改变苹果未来5年的发展方向。”</blockquote></p><p> Evercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.</p><p><blockquote>Evercore ISI分析师Amit Daryanani在一份研究报告中表示，这一裁决对苹果来说是一次挫折，但鉴于苹果有其他方式从商店创收，包括其不断增长的店内广告业务，最终的影响可能是可控的。他指出，苹果实际上在该案中的一个更大问题上取得了胜利：法官驳回了Epic关于App Store是非法垄断的主张。Daryanani估计苹果每股收益面临的风险为2%至4%。</blockquote></p><p> Wedbush analyst Dan Ives told&nbsp;<i>Barron’s</i>&nbsp;he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.</p><p><blockquote>Wedbush分析师Dan Ives告诉<i>巴伦周刊</i>他认为最坏的情况是收入受到3%至4%的打击，并将这种风险描述为“舍入误差”。虽然Ives表示，华尔街原本预计苹果会全面获胜，但这一喜忧参半的决定消除了该股的悬念，投资者可能会因为解决这个问题而松一口气。</blockquote></p><p> The ruling is more a positive for companies like&nbsp;Spotify Technology&nbsp;and&nbsp;Match Group&nbsp;than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97&nbsp;on&nbsp;Friday, while Spotify and March gained 0.7% and&nbsp;4.2%, respectively.</p><p><blockquote>他表示，这一裁决对Spotify Technology和Match Group等公司来说更多的是积极的，而不是对苹果的负面影响。苹果股价周五下跌3.3%，至148.97美元，Spotify和March分别上涨0.7%和4.</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/apple-app-store-epic-51631304007?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147045390","content_text":"Apple faces real, but limited, risk to its revenue and profits from Friday’s ruling that requires it to allow developers to offer alternative payment methods for purchases made in apps downloaded through the Apple app store.\nIn a case filed by Fortnite publisher Epic Games, U.S. District Judge Yvonne Gonzalez Rogers issued a permanent injunction that requires Apple (ticker: AAPL) to allow developers the option to include links to alternative payment methods in their apps. Apple’s own payment system takes a 30% cut from large developers.\nData from the app tracker SensorTower shows that in calendar 2020, Apple had overall revenue from the App Store of $72.3 billion, generating an estimated $21.7 billion in fees, or about 7% of Apple’s overall revenues. That includes $21 billion in spending in the U.S., generating about $6.3 billion in fees, or about 2% of annualized revenues.\nSensorTower estimates that mobile-game spending in the App Store in calendar 2020 was $47.6 billion, generating $14.3 billion in fees, or a little under 5% of Apple’s total revenues.\nGene Munster, managing director of the venture firm Loup Capital and a former sell-side analyst with a long history of tracking Apple, estimated that the App Store accounts for about 14% of the company’s profits. But he sees limited risk from Friday’s ruling.\nMunster thinks most app developers will stay inside of the Apple system. He sees “at most” a 2% headwind to overall revenue, and a potential 4% hit to profits.\n“After the first year of these changes, app store growth rates will return to normal,” he said. “Bottom line, it’s at most a one-year headwind and does not change the big picture of where Apple is going over the next 5 years.”\nEvercore ISI analyst Amit Daryanani said in a research note that the ruling is a setback for Apple, but that the eventual impact is likely to be manageable, given Apple has alternative ways to generate revenue from the store, including its growing in-store ad business. And he noted that Apple actually got a win on a bigger issue in the case: The judge rejected Epic’s assertion that the App Store is an illegal monopoly. Daryanani estimated the risk to Apple’s per-share earnings at 2% to 4%.\nWedbush analyst Dan Ives told Barron’s he thinks the worst-case scenario is a 3% to 4% hit to revenues, describing the risk as a “rounding error.” While Ives said the Street had expected an across-the-board win for Apple, the mixed decision removes an overhang on the stock and that investors are likely relieved to put the issue to rest.\nThe ruling is more a positive for companies like Spotify Technology and Match Group than it is a negative for Apple, he said. Apple stock fell 3.3% to $148.97 on Friday, while Spotify and March gained 0.7% and 4.2%, respectively.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":760,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":810062447,"gmtCreate":1629935528289,"gmtModify":1631891192867,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/810062447","repostId":"2162507820","repostType":4,"isVote":1,"tweetType":1,"viewCount":1128,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835221271,"gmtCreate":1629722107293,"gmtModify":1631891192869,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"Hmm","listText":"Hmm","text":"Hmm","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/835221271","repostId":"1132832038","repostType":4,"isVote":1,"tweetType":1,"viewCount":642,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836259441,"gmtCreate":1629502874883,"gmtModify":1631891192869,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"🤔","listText":"🤔","text":"🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/836259441","repostId":"1107004225","repostType":4,"repost":{"id":"1107004225","kind":"news","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":1629473431,"share":"https://www.laohu8.com/m/news/1107004225?lang=zh_CN&edition=full","pubTime":"2021-08-20 23:30","market":"us","language":"en","title":"Why This Virgin Galactic Analyst Just Cut Their Price Target By Nearly 40%<blockquote>为什么这位维珍银河分析师刚刚将目标价下调近40%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107004225","media":"Benzinga","summary":"Virgin Galactic Holdings Inc shares have come crashing back to Earth since the company successfully ","content":"<p><b><a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a> </b><b>Holdings</b><b> Inc</b>&nbsp;shares have come crashing back to Earth since the company successfully completed a Unity 22 space flight back in July, and one analyst said Friday&nbsp;the stock will likely continue to struggle in the near-term.</p><p><blockquote><b><a href=\"https://laohu8.com/S/SPCE\">维珍银河</a></b><b>控股</b><b>Inc</b>自该公司7月份成功完成Unity 22太空飞行以来，该公司股价暴跌，一位分析师周五表示，该股短期内可能会继续陷入困境。</blockquote></p><p> <b>The Virgin Galactic Analyst:</b>&nbsp;Bank of America analyst Ronald Epstein reiterated an Underperform rating on&nbsp;Virgin Galactic and cut the&nbsp;price target from $41 to $25.</p><p><blockquote><b>维珍银河分析师：</b>美国银行分析师Ronald Epstein重申了对维珍银河的跑输评级，并将目标价从41美元下调至25美元。</blockquote></p><p> <b>The Virgin Galactic Takeaways:</b>&nbsp;In his new note, Epstein said he was surprised and somewhat confused by Virgin’s recent announcement that it will begin planned maintenance plus enhancement for Mothership Eve in September after receiving a recommendation for the enhancements in July.</p><p><blockquote><b>维珍银河外卖：</b>爱泼斯坦在他的新报告中表示，维珍航空最近宣布，在7月份收到增强建议后，将于9月份开始对母舰Eve进行计划维护和增强，这让他感到惊讶和有些困惑。</blockquote></p><p> The planned improvements, which Virgin did not detail, will bump back the timeline for the company’s first commercial passenger flight from early 2022 to late in the third quarter of 2022.</p><p><blockquote>维珍航空没有详细说明计划中的改进将把该公司首次商业客运航班的时间表从2022年初推迟到2022年第三季度末。</blockquote></p><p> Epstein said it was particularly surprising that Virgin didn’t provide any technical details about the planned improvements and said the enhancements are still in the design phase.</p><p><blockquote>爱泼斯坦表示，尤其令人惊讶的是，维珍没有提供有关计划改进的任何技术细节，并表示这些改进仍处于设计阶段。</blockquote></p><p> For now, Epstein said he expects Virgin to focus on sub-orbital travel, which will bump back orbital travel further into the future. Epstein has pushed back his target date for Virgin orbital travel from 2028 to 2035 and is removing his 2035 target for high speed point-to-point travel.</p><p><blockquote>爱泼斯坦表示，目前，他预计维珍航空将专注于亚轨道旅行，这将在未来进一步阻碍轨道旅行。爱泼斯坦已将维珍轨道旅行的目标日期从2028年推迟到2035年，并取消了2035年高速点对点旅行的目标。</blockquote></p><p> In terms of upcoming stock catalysts, Epstein said the October 2021 lock-up expirations could pressure Virgin’s stock.</p><p><blockquote>就即将到来的股票催化剂而言，爱泼斯坦表示，2021年10月的禁售期可能会给维珍的股票带来压力。</blockquote></p><p> “We see short term downside pressure to the stock price as a) delayed commercialization results in lack of catalysts, b) the market stays attentive to the next equity raise, and c) the next lock-up period expires,” Epstein said.</p><p><blockquote>爱泼斯坦表示：“我们认为股价短期面临下行压力，因为a）商业化延迟导致缺乏催化剂，b）市场仍在关注下一次股权融资，以及c）下一次禁售期到期。”</blockquote></p><p> <b>Benzinga’s Take:</b>&nbsp;With Virgin generating a $644-million net loss on less than $300,000 in revenue in 2020, any delays in the path to a commercial launch are understandably concerning for investors.</p><p><blockquote><b>Benzinga的看法：</b>由于维珍航空在2020年的收入不到30万美元，净亏损6.44亿美元，商业推出之路的任何延误都可以理解投资者的担忧。</blockquote></p><p> If Epstein’s new targets are correct, it also appears that at least the next 14 years will be all about sub-orbital travel for Virgin.</p><p><blockquote>如果爱泼斯坦的新目标是正确的，那么对于维珍来说，至少未来14年将是亚轨道旅行的全部。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why This Virgin Galactic Analyst Just Cut Their Price Target By Nearly 40%<blockquote>为什么这位维珍银河分析师刚刚将目标价下调近40%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; 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color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy This Virgin Galactic Analyst Just Cut Their Price Target By Nearly 40%<blockquote>为什么这位维珍银河分析师刚刚将目标价下调近40%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\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 smaller\">2021-08-20 23:30</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b><a href=\"https://laohu8.com/S/SPCE\">Virgin Galactic</a> </b><b>Holdings</b><b> Inc</b>&nbsp;shares have come crashing back to Earth since the company successfully completed a Unity 22 space flight back in July, and one analyst said Friday&nbsp;the stock will likely continue to struggle in the near-term.</p><p><blockquote><b><a href=\"https://laohu8.com/S/SPCE\">维珍银河</a></b><b>控股</b><b>Inc</b>自该公司7月份成功完成Unity 22太空飞行以来，该公司股价暴跌，一位分析师周五表示，该股短期内可能会继续陷入困境。</blockquote></p><p> <b>The Virgin Galactic Analyst:</b>&nbsp;Bank of America analyst Ronald Epstein reiterated an Underperform rating on&nbsp;Virgin Galactic and cut the&nbsp;price target from $41 to $25.</p><p><blockquote><b>维珍银河分析师：</b>美国银行分析师Ronald Epstein重申了对维珍银河的跑输评级，并将目标价从41美元下调至25美元。</blockquote></p><p> <b>The Virgin Galactic Takeaways:</b>&nbsp;In his new note, Epstein said he was surprised and somewhat confused by Virgin’s recent announcement that it will begin planned maintenance plus enhancement for Mothership Eve in September after receiving a recommendation for the enhancements in July.</p><p><blockquote><b>维珍银河外卖：</b>爱泼斯坦在他的新报告中表示，维珍航空最近宣布，在7月份收到增强建议后，将于9月份开始对母舰Eve进行计划维护和增强，这让他感到惊讶和有些困惑。</blockquote></p><p> The planned improvements, which Virgin did not detail, will bump back the timeline for the company’s first commercial passenger flight from early 2022 to late in the third quarter of 2022.</p><p><blockquote>维珍航空没有详细说明计划中的改进将把该公司首次商业客运航班的时间表从2022年初推迟到2022年第三季度末。</blockquote></p><p> Epstein said it was particularly surprising that Virgin didn’t provide any technical details about the planned improvements and said the enhancements are still in the design phase.</p><p><blockquote>爱泼斯坦表示，尤其令人惊讶的是，维珍没有提供有关计划改进的任何技术细节，并表示这些改进仍处于设计阶段。</blockquote></p><p> For now, Epstein said he expects Virgin to focus on sub-orbital travel, which will bump back orbital travel further into the future. Epstein has pushed back his target date for Virgin orbital travel from 2028 to 2035 and is removing his 2035 target for high speed point-to-point travel.</p><p><blockquote>爱泼斯坦表示，目前，他预计维珍航空将专注于亚轨道旅行，这将在未来进一步阻碍轨道旅行。爱泼斯坦已将维珍轨道旅行的目标日期从2028年推迟到2035年，并取消了2035年高速点对点旅行的目标。</blockquote></p><p> In terms of upcoming stock catalysts, Epstein said the October 2021 lock-up expirations could pressure Virgin’s stock.</p><p><blockquote>就即将到来的股票催化剂而言，爱泼斯坦表示，2021年10月的禁售期可能会给维珍的股票带来压力。</blockquote></p><p> “We see short term downside pressure to the stock price as a) delayed commercialization results in lack of catalysts, b) the market stays attentive to the next equity raise, and c) the next lock-up period expires,” Epstein said.</p><p><blockquote>爱泼斯坦表示：“我们认为股价短期面临下行压力，因为a）商业化延迟导致缺乏催化剂，b）市场仍在关注下一次股权融资，以及c）下一次禁售期到期。”</blockquote></p><p> <b>Benzinga’s Take:</b>&nbsp;With Virgin generating a $644-million net loss on less than $300,000 in revenue in 2020, any delays in the path to a commercial launch are understandably concerning for investors.</p><p><blockquote><b>Benzinga的看法：</b>由于维珍航空在2020年的收入不到30万美元，净亏损6.44亿美元，商业推出之路的任何延误都可以理解投资者的担忧。</blockquote></p><p> If Epstein’s new targets are correct, it also appears that at least the next 14 years will be all about sub-orbital travel for Virgin.</p><p><blockquote>如果爱泼斯坦的新目标是正确的，那么对于维珍来说，至少未来14年将是亚轨道旅行的全部。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPCE":"维珍银河"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107004225","content_text":"Virgin Galactic Holdings Inc shares have come crashing back to Earth since the company successfully completed a Unity 22 space flight back in July, and one analyst said Friday the stock will likely continue to struggle in the near-term.\nThe Virgin Galactic Analyst: Bank of America analyst Ronald Epstein reiterated an Underperform rating on Virgin Galactic and cut the price target from $41 to $25.\nThe Virgin Galactic Takeaways: In his new note, Epstein said he was surprised and somewhat confused by Virgin’s recent announcement that it will begin planned maintenance plus enhancement for Mothership Eve in September after receiving a recommendation for the enhancements in July.\nThe planned improvements, which Virgin did not detail, will bump back the timeline for the company’s first commercial passenger flight from early 2022 to late in the third quarter of 2022.\nEpstein said it was particularly surprising that Virgin didn’t provide any technical details about the planned improvements and said the enhancements are still in the design phase.\nFor now, Epstein said he expects Virgin to focus on sub-orbital travel, which will bump back orbital travel further into the future. Epstein has pushed back his target date for Virgin orbital travel from 2028 to 2035 and is removing his 2035 target for high speed point-to-point travel.\nIn terms of upcoming stock catalysts, Epstein said the October 2021 lock-up expirations could pressure Virgin’s stock.\n“We see short term downside pressure to the stock price as a) delayed commercialization results in lack of catalysts, b) the market stays attentive to the next equity raise, and c) the next lock-up period expires,” Epstein said.\nBenzinga’s Take: With Virgin generating a $644-million net loss on less than $300,000 in revenue in 2020, any delays in the path to a commercial launch are understandably concerning for investors.\nIf Epstein’s new targets are correct, it also appears that at least the next 14 years will be all about sub-orbital travel for Virgin.","news_type":1,"symbols_score_info":{"SPCE":0.9}},"isVote":1,"tweetType":1,"viewCount":852,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":836123207,"gmtCreate":1629466398509,"gmtModify":1631891192875,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574669353038503","authorIdStr":"3574669353038503"},"themes":[],"htmlText":"🤔","listText":"🤔","text":"🤔","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/836123207","repostId":"1168282056","repostType":4,"repost":{"id":"1168282056","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":1629466221,"share":"https://www.laohu8.com/m/news/1168282056?lang=zh_CN&edition=full","pubTime":"2021-08-20 21:30","market":"us","language":"en","title":"S&P 500 opens flat with stocks set for a losing week<blockquote>标普500开盘持平，股市本周将下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1168282056","media":"Tiger Newspress","summary":"(Aug 20) The S&P 500 was flat Friday as the markets close out a losing week driven by fears of the F","content":"<p>(Aug 20)&nbsp;The S&amp;P 500 was flat Friday as the markets close out a losing week driven by fears of the Federal Reserve pulling back its stimulus.</p><p><blockquote>（8月20日）周五标普500持平，因担心美联储撤回刺激措施，市场结束了下跌的一周。</blockquote></p><p> The broad index traded near the flatline. The Dow Jones Industrial Average shed about 14 points. The Nasdaq Composite traded up 0.2%.</p><p><blockquote>大盘指数交投于持平线附近。道琼斯工业平均指数下跌约14点。纳斯达克综合指数上涨0.2%。</blockquote></p><p> All three major stock indexes are on track to close the week lower.</p><p><blockquote>三大股指本周均有望收低。</blockquote></p><p> Snowflake&nbsp;fell&nbsp;over&nbsp;5%&nbsp;in&nbsp;morning&nbsp;trading.<img src=\"https://static.tigerbbs.com/5775b8d834cd76ee72aea9347d198e9e\" tg-width=\"1084\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p><blockquote>Snowflake早盘跌幅超过5%。</blockquote></p><p> Some China concepts stocks rally in morning trading.<img src=\"https://static.tigerbbs.com/a49abcca35cc04c256cd8405c1b32847\" tg-width=\"279\" tg-height=\"641\" referrerpolicy=\"no-referrer\">Minutes from the Fed’s July meetingreleased this weekshowed the central bank is willing to start reducing its monthly asset purchases this year. Investors sold equities and commodities this week and bought bonds on fears the move by the Fed may upend a global economy already under stress by the delta variant.</p><p><blockquote>部分中概股早盘上涨。本周公布的美联储7月会议纪要显示，央行愿意今年开始减少月度资产购买。投资者本周抛售股票和大宗商品，买入债券，原因是担心美联储此举可能会颠覆已经受到德尔塔变异毒株压力的全球经济。</blockquote></p><p> This week, WTI crude oil has tumbled roughly 8% and copper has lost about 7% on the fears, taking energy and materials stocks with them. The 10-year Treasury yield was at 1.237% on Friday morning, down from 1.78% in late March.</p><p><blockquote>本周，WTI原油下跌约8%，铜下跌约7%，能源和材料股也随之下跌。周五上午，10年期国债收益率为1.237%，低于3月底的1.78%。</blockquote></p><p> “With Fed tapering coming while delta variant keeps spreading, the transition away from liquidity/policy regime to more mid-cycle markets means we may experience a bumpier ride ahead,” Barclays equity strategists said in a note. “Market narrative may thus turn more cautious, as concerns about peaking growth rates, Delta variant and policy mistake may prove headwinds, at a time where seasonality and technicals are unfavourable.”</p><p><blockquote>Barclays股票策略师在一份报告中表示：“随着美联储缩减规模的到来，而德尔塔变异毒株不断蔓延，从流动性/政策制度向更多的周期中期市场的过渡意味着我们可能会经历一段更加坎坷的旅程。”“因此，市场叙事可能会变得更加谨慎，因为在季节性和技术面不利之际，对增长率见顶、德尔塔变异毒株和政策错误的担忧可能会成为阻力。”</blockquote></p><p> Tesla shares gained after Elon Musk’s electric car maker had an AI day, where itunveiled a new custom chipandplans to build a humanoid robot. Tesla shares are off 6% this week as investors worry about slowing growth in one of its key markets China.</p><p><blockquote>特斯拉(Elon Musk)的电动汽车制造商举办了人工智能日，推出了一款新的定制芯片并计划制造人形机器人，随后该公司股价上涨。由于投资者担心其主要市场之一中国的增长放缓，特斯拉股价本周下跌6%。</blockquote></p><p> The S&amp;P 500 snapped a two-day losing streak in Thursday’s regular trading session while the Dow ended its third-straight day in red.</p><p><blockquote>标普500在周四的常规交易时段结束了连续两天的下跌，而道琼斯指数则连续第三天下跌。</blockquote></p><p> After volatile trading, the S&amp;P 500 closed 0.1% higher. The Nasdaq Composite added 0.1%. The Dow bucked the trend and shed 66.57 points.</p><p><blockquote>经过震荡交易后，标普500收盘上涨0.1%。纳斯达克综合指数上涨0.1%。道指逆势下跌66.57点。</blockquote></p><p> “Against a backdrop of thin liquidity as investors take summer vacations, minor stock market corrections are to be expected in a market that is pricing in peak earnings, extended price-to-earnings ratios and elevated economic growth expectations,” Richard Saperstein, chief investment officer at Treasury Partners, said.</p><p><blockquote>首席投资官理查德·萨珀斯坦(Richard Saperstein)表示：“在投资者放暑假导致流动性紧张的背景下，预计股市将出现小幅调整，因为市场正在消化盈利峰值、市盈率扩大和经济增长预期上升。”Treasury Partners的投资官表示。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>S&P 500 opens flat with stocks set for a losing week<blockquote>标普500开盘持平，股市本周将下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nS&P 500 opens flat with stocks set for a losing week<blockquote>标普500开盘持平，股市本周将下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-08-20 21:30</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(Aug 20)&nbsp;The S&amp;P 500 was flat Friday as the markets close out a losing week driven by fears of the Federal Reserve pulling back its stimulus.</p><p><blockquote>（8月20日）周五标普500持平，因担心美联储撤回刺激措施，市场结束了下跌的一周。</blockquote></p><p> The broad index traded near the flatline. The Dow Jones Industrial Average shed about 14 points. The Nasdaq Composite traded up 0.2%.</p><p><blockquote>大盘指数交投于持平线附近。道琼斯工业平均指数下跌约14点。纳斯达克综合指数上涨0.2%。</blockquote></p><p> All three major stock indexes are on track to close the week lower.</p><p><blockquote>三大股指本周均有望收低。</blockquote></p><p> Snowflake&nbsp;fell&nbsp;over&nbsp;5%&nbsp;in&nbsp;morning&nbsp;trading.<img src=\"https://static.tigerbbs.com/5775b8d834cd76ee72aea9347d198e9e\" tg-width=\"1084\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p><blockquote>Snowflake早盘跌幅超过5%。</blockquote></p><p> Some China concepts stocks rally in morning trading.<img src=\"https://static.tigerbbs.com/a49abcca35cc04c256cd8405c1b32847\" tg-width=\"279\" tg-height=\"641\" referrerpolicy=\"no-referrer\">Minutes from the Fed’s July meetingreleased this weekshowed the central bank is willing to start reducing its monthly asset purchases this year. Investors sold equities and commodities this week and bought bonds on fears the move by the Fed may upend a global economy already under stress by the delta variant.</p><p><blockquote>部分中概股早盘上涨。本周公布的美联储7月会议纪要显示，央行愿意今年开始减少月度资产购买。投资者本周抛售股票和大宗商品，买入债券，原因是担心美联储此举可能会颠覆已经受到德尔塔变异毒株压力的全球经济。</blockquote></p><p> This week, WTI crude oil has tumbled roughly 8% and copper has lost about 7% on the fears, taking energy and materials stocks with them. The 10-year Treasury yield was at 1.237% on Friday morning, down from 1.78% in late March.</p><p><blockquote>本周，WTI原油下跌约8%，铜下跌约7%，能源和材料股也随之下跌。周五上午，10年期国债收益率为1.237%，低于3月底的1.78%。</blockquote></p><p> “With Fed tapering coming while delta variant keeps spreading, the transition away from liquidity/policy regime to more mid-cycle markets means we may experience a bumpier ride ahead,” Barclays equity strategists said in a note. “Market narrative may thus turn more cautious, as concerns about peaking growth rates, Delta variant and policy mistake may prove headwinds, at a time where seasonality and technicals are unfavourable.”</p><p><blockquote>Barclays股票策略师在一份报告中表示：“随着美联储缩减规模的到来，而德尔塔变异毒株不断蔓延，从流动性/政策制度向更多的周期中期市场的过渡意味着我们可能会经历一段更加坎坷的旅程。”“因此，市场叙事可能会变得更加谨慎，因为在季节性和技术面不利之际，对增长率见顶、德尔塔变异毒株和政策错误的担忧可能会成为阻力。”</blockquote></p><p> Tesla shares gained after Elon Musk’s electric car maker had an AI day, where itunveiled a new custom chipandplans to build a humanoid robot. Tesla shares are off 6% this week as investors worry about slowing growth in one of its key markets China.</p><p><blockquote>特斯拉(Elon Musk)的电动汽车制造商举办了人工智能日，推出了一款新的定制芯片并计划制造人形机器人，随后该公司股价上涨。由于投资者担心其主要市场之一中国的增长放缓，特斯拉股价本周下跌6%。</blockquote></p><p> The S&amp;P 500 snapped a two-day losing streak in Thursday’s regular trading session while the Dow ended its third-straight day in red.</p><p><blockquote>标普500在周四的常规交易时段结束了连续两天的下跌，而道琼斯指数则连续第三天下跌。</blockquote></p><p> After volatile trading, the S&amp;P 500 closed 0.1% higher. The Nasdaq Composite added 0.1%. The Dow bucked the trend and shed 66.57 points.</p><p><blockquote>经过震荡交易后，标普500收盘上涨0.1%。纳斯达克综合指数上涨0.1%。道指逆势下跌66.57点。</blockquote></p><p> “Against a backdrop of thin liquidity as investors take summer vacations, minor stock market corrections are to be expected in a market that is pricing in peak earnings, extended price-to-earnings ratios and elevated economic growth expectations,” Richard Saperstein, chief investment officer at Treasury Partners, said.</p><p><blockquote>首席投资官理查德·萨珀斯坦(Richard Saperstein)表示：“在投资者放暑假导致流动性紧张的背景下，预计股市将出现小幅调整，因为市场正在消化盈利峰值、市盈率扩大和经济增长预期上升。”Treasury Partners的投资官表示。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168282056","content_text":"(Aug 20) The S&P 500 was flat Friday as the markets close out a losing week driven by fears of the Federal Reserve pulling back its stimulus.\nThe broad index traded near the flatline. The Dow Jones Industrial Average shed about 14 points. The Nasdaq Composite traded up 0.2%.\nAll three major stock indexes are on track to close the week lower.\nSnowflake fell over 5% in morning trading.\nSome China concepts stocks rally in morning trading.Minutes from the Fed’s July meetingreleased this weekshowed the central bank is willing to start reducing its monthly asset purchases this year. Investors sold equities and commodities this week and bought bonds on fears the move by the Fed may upend a global economy already under stress by the delta variant.\nThis week, WTI crude oil has tumbled roughly 8% and copper has lost about 7% on the fears, taking energy and materials stocks with them. The 10-year Treasury yield was at 1.237% on Friday morning, down from 1.78% in late March.\n“With Fed tapering coming while delta variant keeps spreading, the transition away from liquidity/policy regime to more mid-cycle markets means we may experience a bumpier ride ahead,” Barclays equity strategists said in a note. “Market narrative may thus turn more cautious, as concerns about peaking growth rates, Delta variant and policy mistake may prove headwinds, at a time where seasonality and technicals are unfavourable.”\nTesla shares gained after Elon Musk’s electric car maker had an AI day, where itunveiled a new custom chipandplans to build a humanoid robot. Tesla shares are off 6% this week as investors worry about slowing growth in one of its key markets China.\nThe S&P 500 snapped a two-day losing streak in Thursday’s regular trading session while the Dow ended its third-straight day in red.\nAfter volatile trading, the S&P 500 closed 0.1% higher. The Nasdaq Composite added 0.1%. The Dow bucked the trend and shed 66.57 points.\n“Against a backdrop of thin liquidity as investors take summer vacations, minor stock market corrections are to be expected in a market that is pricing in peak earnings, extended price-to-earnings ratios and elevated economic growth expectations,” Richard Saperstein, chief investment officer at Treasury Partners, said.","news_type":1,"symbols_score_info":{"SPY":0.9,".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":723,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":115502146,"gmtCreate":1623021092285,"gmtModify":1634096279283,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"Go NIO..!&nbsp;","listText":"Go NIO..!&nbsp;","text":"Go NIO..!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":18,"repostSize":0,"link":"https://laohu8.com/post/115502146","repostId":"1156802172","repostType":4,"isVote":1,"tweetType":1,"viewCount":481,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350290459,"gmtCreate":1616207766271,"gmtModify":1634526727858,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>short term IMO, next week is critical. It needs to break the top line to reverse and stay uptrend, else we may probably test 30 and go 20 since 30 support might not be strong to hold.But I do believe NIO can break the high&nbsp;instead of moving down! 💪🏼Let's discussion and share your opinion&nbsp;on the comment below on the forward movement of the price.&nbsp;Cheers all 🐯 folks who is holding on to $NIO$...! Let's make money..!&nbsp;*Disclaimer*: This does not constitute an offer to sell or a solicitation of an offer to buy. Just for educational purposes and sharing of my personal opinion only 😉","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>short term IMO, next week is critical. It needs to break the top line to reverse and stay uptrend, else we may probably test 30 and go 20 since 30 support might not be strong to hold.But I do believe NIO can break the high&nbsp;instead of moving down! 💪🏼Let's discussion and share your opinion&nbsp;on the comment below on the forward movement of the price.&nbsp;Cheers all 🐯 folks who is holding on to $NIO$...! Let's make money..!&nbsp;*Disclaimer*: This does not constitute an offer to sell or a solicitation of an offer to buy. Just for educational purposes and sharing of my personal opinion only 😉","text":"$NIO Inc.(NIO)$short term IMO, next week is critical. It needs to break the top line to reverse and stay uptrend, else we may probably test 30 and go 20 since 30 support might not be strong to hold.But I do believe NIO can break the high instead of moving down! 💪🏼Let's discussion and share your opinion on the comment below on the forward movement of the price. Cheers all 🐯 folks who is holding on to $NIO$...! Let's make money..! *Disclaimer*: This does not constitute an offer to sell or a solicitation of an offer to buy. Just for educational purposes and sharing of my personal opinion only 😉","images":[],"top":1,"highlighted":1,"essential":2,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/350290459","isVote":1,"tweetType":1,"viewCount":1814,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346492285,"gmtCreate":1618099418447,"gmtModify":1634294945117,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"Time to buy Pfizer and BioNTech?&nbsp;","listText":"Time to buy Pfizer and BioNTech?&nbsp;","text":"Time to buy Pfizer and BioNTech?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":8,"repostSize":0,"link":"https://laohu8.com/post/346492285","repostId":"2126038125","repostType":4,"isVote":1,"tweetType":1,"viewCount":832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":317399906,"gmtCreate":1612413725505,"gmtModify":1703761503250,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GEVO\">$Gevo(GEVO)$</a>🚀 soon! Cheers all!&nbsp;","listText":"<a href=\"https://laohu8.com/S/GEVO\">$Gevo(GEVO)$</a>🚀 soon! Cheers all!&nbsp;","text":"$Gevo(GEVO)$🚀 soon! Cheers all!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/317399906","isVote":1,"tweetType":1,"viewCount":1726,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":389249744,"gmtCreate":1612781654688,"gmtModify":1703764915694,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"Time to buy penny stock?&nbsp;","listText":"Time to buy penny stock?&nbsp;","text":"Time to buy penny stock?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":9,"repostSize":0,"link":"https://laohu8.com/post/389249744","repostId":"1132830852","repostType":4,"repost":{"id":"1132830852","kind":"news","pubTimestamp":1612752396,"share":"https://www.laohu8.com/m/news/1132830852?lang=zh_CN&edition=full","pubTime":"2021-02-08 10:46","market":"us","language":"en","title":"The Biden Stock Market Won’t Be Like the Trump Market. What to Expect.<blockquote>拜登股市不会像特朗普市场。期待什么。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1132830852","media":"Barrons","summary":"It’s time to buycyclicalsandsmall-caps. That’s been a bold call, especially for fund managers who ha","content":"<p>It’s time to buycyclicalsandsmall-caps. That’s been a bold call, especially for fund managers who have acquired a “hot-stove mentality” after being burned over the past 10 years. But this time, says Savita Subramanian,Bank of America’swidely followed strategist, outperformance could last for years, as it did after the tech bubble burst. Finding promising investments is even more important today, especially if the market itself delivers lackluster returns, as she expects.</p><p><blockquote>是时候购买周期性股票和小盘股了。这是一个大胆的看涨期权，尤其是对于那些在过去10年被烧伤后获得了“热炉心态”的基金经理来说。但美国银行广受关注的策略师萨维塔·萨勃拉曼尼亚(Savita Subramanian)表示，这一次，优异表现可能会持续数年，就像科技泡沫破裂后那样。如今，寻找有前途的投资变得更加重要，尤其是如果市场本身如她预期的那样回报低迷的话。</blockquote></p><p> A double major in math and philosophy at the University of California, Berkeley, Subramanian is a heavy user of quant data in her studies of investor sentiment, and has been chief strategist since 2011. She recently chatted with<i>Barron’s</i>about howthe Biden administrationwill achieve economic growth, and why—despite being the firm’s head of ESG—she’s recommending energy stocks.</p><p><blockquote>Subramanian拥有加州大学伯克利分校数学和哲学双学位，在投资者情绪研究中大量使用量化数据，自2011年以来一直担任首席策略师。她最近和<i>巴伦周刊</i>关于拜登政府将如何实现经济增长，以及为什么——尽管她是该公司的ESG主管——她还是推荐能源股。</blockquote></p><p> Read the following edited excerpts for more.</p><p><blockquote>阅读以下编辑过的摘录了解更多信息。</blockquote></p><p> <b>Barron’s: President Biden has issued dozens of executive orders. How should investors digest these?</b></p><p><blockquote><b>《巴伦周刊》：拜登总统发布了数十项行政命令。投资者该如何消化这些？</b></blockquote></p><p> <b>Savita Subramanian:</b>They represent a few thematic changes and a big break from the market leadership of the past four years. This administration is less focused on asset inflation and more on real inflation, in creating jobs and reinvigorating the real economy, rather than just bolstering stock market returns. From listening to this new administration’s rhetoric, they’re not looking at barometers like theS&amp;P 500index or investment returns as a metric of success or failure. Instead, they’re focused on addressing some of the bigger inequities in the market, like income inequality. That means we’re going to see less-great market returns, but probably a bigger return in the economy overall.</p><p><blockquote><b>萨维塔·萨勃拉曼尼亚：</b>它们代表了一些主题变化以及与过去四年市场领导地位的重大突破。本届政府不太关注资产通胀，而是更关注实际通胀，创造就业机会和重振实体经济，而不仅仅是提振股市回报。从新政府的言论来看，他们并没有将标准普尔500指数或投资回报等晴雨表视为衡量成功或失败的指标。相反，他们专注于解决市场上一些更大的不平等，比如收入不平等。这意味着我们将看到不太好的市场回报，但整体经济的回报可能会更大。</blockquote></p><p> <b>Your market call is pretty tepid.</b></p><p><blockquote><b>你们的市场看涨期权相当不温不火。</b></blockquote></p><p> I’m one of the lowest forecasts on Wall Street. We’re looking for 3,800 on the S&amp;P 500. It’s a very tech-growth-heavy benchmark. We’re looking for S&amp;P earnings to grow by about 20% this year. Obviously, we’re expecting to see some multiple compression. We’re expecting to see a very strong economic recovery. Our economists Michelle Meyer and Ethan Harris are looking for 6% growth on U.S. gross domestic product. Most of that recovery should take place in the second half of this year as we see broad dispersal of vaccines and a more concerted, coordinated reopening. It’s hard to be bearish, given all the stimulus.</p><p><blockquote>我是华尔街预测最低的人之一。我们在标普500找3800人。这是一个非常注重技术增长的基准。我们预计标准普尔今年的盈利将增长约20%。显然，我们期待看到一些多重压缩。我们预计会看到非常强劲的经济复苏。我们的经济学家米歇尔·迈耶和伊森·哈里斯预计美国国内生产总值将增长6%。随着我们看到疫苗的广泛传播和更加协调一致的重新开放，大部分复苏应该会在今年下半年发生。考虑到所有的刺激措施，很难看跌。</blockquote></p><p> Here’s why we’re not bearish: Interest rates are superlow, U.S. large-caps offer great yields, relative to bonds, and the Biden administration is laser-focused on the economy. It’s hard to see a recession-driven bear market.</p><p><blockquote>这就是我们不看跌的原因：利率超低，相对于债券，美国大盘股提供了很高的收益率，而且拜登政府非常关注经济。很难看到经济衰退驱动的熊市。</blockquote></p><p> <b>The market was gripped by the spectacular rise of</b><b>GameStop</b><b>[ticker: GME]. What does it mean?</b></p><p><blockquote><b>市场被美元的惊人上涨所吸引</b><b>游戏驿站</b><b>[股票代码：GME]。这是什么意思？</b></blockquote></p><p> We’re seeing more and more of the decoupling of fundamentals from performance. It’s always troubling to see, and it smacks of speculation. A couple of things: All of the action seemed to be focused on the small-cap space. Companies with high short interest in the S&amp;P 500 behaved normally, but those in theRussell 2000behaved very atypically. The good news is this seems to be localized in smaller-market-cap stocks, so the impact is less extreme, and it’s emblematic of more speculative drama in the market, rather than in more fundamental investing.</p><p><blockquote>我们看到越来越多的基本面与业绩脱钩。看着总是很麻烦，有点投机的味道。有几件事：所有的行动似乎都集中在小盘股领域。对标普500持有高空头兴趣的公司表现正常，但罗素2000指数中的公司表现非常不典型。好消息是，这似乎仅限于小市值股票，因此影响不那么极端，而且它象征着市场中更具投机性的戏剧，而不是更基本面的投资。</blockquote></p><p> <b>What would make you more bearish?</b></p><p><blockquote><b>什么会让你更加看跌？</b></blockquote></p><p> If we saw interest rates rise meaningfully from here. A big portion of the investor base today is retirees looking for income, forced to buy the S&amp;P 500. We’ve got really tight pockets of the market where you could potentially see an inflation spike. Two years ago, we polled all of our stock analysts to ask where they were seeing input cost pressure and pricing power, and the only two sectors they cited were utilities and health care. We did the same report a couple of months ago, and almost every analyst cited inflationary pressure.</p><p><blockquote>如果我们看到利率从这里大幅上升。如今，投资者群体的很大一部分是寻求收入的退休人员，被迫购买标普500。我们的市场非常紧张，你可能会看到通胀飙升。两年前，我们对所有股票分析师进行了调查，询问他们在哪里看到了投入成本压力和定价权，他们唯一提到的两个行业是公用事业和医疗保健。几个月前我们做了同样的报告，几乎每个分析师都提到了通胀压力。</blockquote></p><p> Today, close to 70% of stocks pay a dividend that’s higher than the 10-year Treasury, which is very close to a record high. [The 10-year currently yields 1.12%.] If rates rise to 1.75%, which our economist is expecting, that proportion drops to 44%. And all of a sudden, that story vaporizes. That’s the swing factor. And that’s one reason we’re less optimistic about equities, not to mention all of the speculations we see.</p><p><blockquote>如今，近70%的股票支付的股息高于10年期国债，非常接近历史新高。[10年期国债目前收益率为1.12%。]如果利率升至我们的经济学家预期的1.75%，这一比例将降至44%。突然间，这个故事消失了。这就是摇摆因素。这是我们对股市不太乐观的原因之一，更不用说我们看到的所有猜测了。</blockquote></p><p> The similarities between today and 2000 is democratization and retail participation in the market, the decoupling of fundamentals from price. The last time we’ve seen earnings surprises met with negative reactions, as we’re seeing now, was in March 2000. The other similarity is our sell-side indicator, a very good market-timing model that looks at Wall Street’s average recommendation to stocks in a balanced fund. That model is now spitting out close to 60%, which would be a sell signal, close to 2007 and almost exactly at the same level as March 2000. All of these ducks are lining up.</p><p><blockquote>今天和2000年的相似之处是民主化和散户参与市场，基本面与价格脱钩。正如我们现在所看到的，上一次盈利意外遭遇负面反应是在2000年3月。另一个相似之处是我们的卖方指标，这是一个非常好的市场时机模型，可以查看华尔街对平衡基金中股票的平均推荐。该模型现在的收益率接近60%，这将是一个卖出信号，接近2007年，几乎与2000年3月的水平完全相同。所有这些鸭子都在排队。</blockquote></p><p> <b>So, what should investors do?</b></p><p><blockquote><b>那么，投资者应该怎么做呢？</b></blockquote></p><p></p><p> Focus on GDP-sensitive areas of the market that haven’t done well for almost a decade. Our sector overweights include financials, energy, industrials, and health care. We find some pent-up manufacturing demand from an unprecedented paralysis in the manufacturing and services economy. We’re more bullish on business investment than on consumption of durable goods. Within consumption, we’re more bullish on a pickup in consumer services than a pickup in consumer goods. Based on our credit-card data for 2020, unlike in the usual economic recession, spending trends remain strong. We had the fastest bear market. The Fed, fiscal policy, and Corporate America basically stepped up and staved off what could have been a deeper recession. Spending took place in home goods and the higher-end consumption areas of the market. Those areas could be at risk in 2021. Our sector underweights are communication services, which are half-growth, half-bond proxies; real estate; and staples.</p><p><blockquote>关注市场中对GDP敏感的领域，这些领域近十年来表现不佳。我们增持的行业包括金融、能源、工业和医疗保健。我们发现制造业和服务业经济前所未有的瘫痪带来了一些被压抑的制造业需求。我们更看好商业投资，而不是耐用品消费。在消费领域，我们更看好消费服务的回升，而不是消费品的回升。根据我们2020年的信用卡数据，与通常的经济衰退不同，支出趋势仍然强劲。我们经历了最快的熊市。美联储、财政政策和美国企业界基本上都采取了行动，避免了可能更严重的衰退。消费发生在家居用品和市场的高端消费领域。这些地区可能在2021年面临风险。我们减持的行业是通信服务，它是一半增长、一半债券的代表；房地产；还有订书钉。</blockquote></p><p> In 14 of the past 14 recessions, the recovery was led by value and cyclical. So, we’re going to see a value cycle. Growth stocks are overly discounting this low-rate, low-growth environment. An easier call to make than value is another area nobody wants to touch—smaller companies, because of liquidity, because of the oligopolistic market. We could be at the start of a longer-lived small-cap cycle, which tends to last eight to 10 years.</p><p><blockquote>在过去14次衰退中，有14次复苏是由价值和周期性主导的。因此，我们将看到一个价值周期。成长型股票过度低估了这种低利率、低增长的环境。比价值更容易制造的看涨期权是另一个没人想触及的领域——小公司，因为流动性，因为寡头垄断市场。我们可能正处于一个更长的小盘股周期的开始，这个周期往往会持续八到十年。</blockquote></p><p> <b>What about the technology and megacap parts of the market?</b></p><p><blockquote><b>市场的技术和大型股部分呢？</b></blockquote></p><p> Coming out of the tech bubble, value outperformed growth for at least seven years. Some cycles last awhile.</p><p><blockquote>走出科技泡沫后，价值至少在七年内跑赢了增长。有些周期会持续一段时间。</blockquote></p><p> What surprises me is how reluctant fund managers or institutional investors are to shed exposure to that past leadership when we’re at what looks like a break point in terms of the economy and the political environment. It’s the hot-stove mentality, because every year since 2008, where anyone has bet on rising interest rates and inflation, they’ve basically been smacked down.</p><p><blockquote>令我惊讶的是，当我们处于经济和政治环境的转折点时，基金经理或机构投资者是多么不愿意放弃对过去领导层的接触。这是一种热火朝天的心态，因为自2008年以来，每年，当有人押注利率和通胀上升时，他们基本上都会被击倒。</blockquote></p><p> More immediately, any potential reversal in Trump-era corporate tax cuts, which would make sense to fund all of the growth, would hit communication services and information technology: the two leadership sectors most overweighted by fund managers.</p><p><blockquote>更直接的是，特朗普时代的企业减税政策的任何潜在逆转都将打击通信服务和信息技术：基金经理增持最多的两个领先行业。</blockquote></p><p> <b>Let’s talk about ESG.</b></p><p><blockquote><b>再说ESG。</b></blockquote></p><p> We’ve really seen a demonstrable and well-articulated pivot of Corporate America in terms of how they’re aiming to please. They’ve gone from shareholder to stakeholder returns. That’s huge. They’re articulating and essentially promising us they care about the communities in which they operate, their employees, and customer satisfaction beyond the bottom line. I don’t think it’s anticapitalist. But I think it’s a new way of thinking about capitalism. The corporate stimulus during Covid-19 was sizable, equivalent on some level to fiscal and Fed stimulus. It was at least $1 trillion of support from Corporate America. Companies repurposed manufacturing to create ventilators, engaged in loan forbearance for consumers, made monetary donations. My own company initiated layoff freezes. It quelled a lot of consumer fears.</p><p><blockquote>我们确实看到了美国企业界在如何取悦他人方面的明显且清晰的支点。他们已经从股东回报转向利益相关者回报。那是巨大的。他们清楚地向我们承诺，他们关心他们经营所在的社区、他们的员工以及底线之外的客户满意度。我不认为这是反资本主义的。但我认为这是一种思考资本主义的新方式。Covid-19期间的企业刺激规模相当大，在某种程度上相当于财政和美联储的刺激。这是来自美国企业界至少1万亿美元的支持。公司重新利用制造业来制造呼吸机，为消费者提供贷款延期，并进行捐款。我自己的公司开始冻结裁员。它平息了许多消费者的担忧。</blockquote></p><p> There’s a learning curve that has been adopted by investors in terms of separating the real from the greenwashing. We’re also seeing big changes in the information that investors are being given about companies. Companies have realized that if they don’t publish a corporate sustainability report, they’re going to trade at a discount to their peer that does. So, that transparency and explosion in data is huge from an investor perspective. All of a sudden, you can codify all of these factors we once only thought about. But ESG is always going to be a messy process. There’s always going to be this interpretive element to it.</p><p><blockquote>投资者在区分真实与洗绿方面采用了一条学习曲线。我们还看到投资者获得的有关公司的信息发生了巨大变化。公司已经意识到，如果他们不发布企业可持续发展报告，他们的交易价格将低于发布的同行。因此，从投资者的角度来看，数据的透明度和爆炸式增长是巨大的。突然之间，你可以将所有这些我们曾经只想到的因素编纂成文。但ESG永远是一个混乱的过程。总会有这种解释的元素。</blockquote></p><p> <b>Yet despite being the global head of ESG for your firm, you’re overweight the energy sector.</b></p><p><blockquote><b>然而，尽管您是贵公司ESG的全球主管，但您却是能源行业的跑赢大盘。</b></blockquote></p><p> Renewables companies have done well, despite the fact that we had four years under an administration that wasn’t focused on these themes. It’s really great that ESG investors today have an ally in the White House. Yet you don’t need mandates from Washington politicians to get going. Investors realized that the future is renewables and are slowly phasing out traditional commodities. But we still need to keep the lights on, and things going, to get to carbon neutrality. There’s an opportunity to buy traditional energy companies that are setting more-aggressive goals of environmental compliance, but are also providing much-needed fuels to keep, to reintegrate, the economy, because we aren’t at the point where we can do everything on wind and solar. So, we’re actually overweight energy, which draws a lot of raised eyebrows. I feel totally comfortable with that because energy companies are essentially reinventing themselves.</p><p><blockquote>可再生能源公司做得很好，尽管事实上我们的政府在四年里并没有关注这些主题。如今，ESG投资者在白宫有一个盟友，这真是太好了。然而，你不需要华盛顿政客的授权就能开始行动。投资者意识到未来是可再生能源，并正在慢慢淘汰传统大宗商品。但我们仍然需要让灯亮着，让事情继续下去，以实现碳中和。有机会购买传统能源公司，这些公司正在设定更积极的环境合规目标，但也提供急需的燃料来保持和重新整合经济，因为我们还没有到可以做所有事情的地步风能和太阳能。所以，我们实际上是跑赢大盘能源公司，这引起了很多人的关注。我对此感到完全满意，因为能源公司本质上是在重塑自己。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Biden Stock Market Won’t Be Like the Trump Market. What to Expect.<blockquote>拜登股市不会像特朗普市场。期待什么。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Biden Stock Market Won’t Be Like the Trump Market. What to Expect.<blockquote>拜登股市不会像特朗普市场。期待什么。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-08 10:46</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It’s time to buycyclicalsandsmall-caps. That’s been a bold call, especially for fund managers who have acquired a “hot-stove mentality” after being burned over the past 10 years. But this time, says Savita Subramanian,Bank of America’swidely followed strategist, outperformance could last for years, as it did after the tech bubble burst. Finding promising investments is even more important today, especially if the market itself delivers lackluster returns, as she expects.</p><p><blockquote>是时候购买周期性股票和小盘股了。这是一个大胆的看涨期权，尤其是对于那些在过去10年被烧伤后获得了“热炉心态”的基金经理来说。但美国银行广受关注的策略师萨维塔·萨勃拉曼尼亚(Savita Subramanian)表示，这一次，优异表现可能会持续数年，就像科技泡沫破裂后那样。如今，寻找有前途的投资变得更加重要，尤其是如果市场本身如她预期的那样回报低迷的话。</blockquote></p><p> A double major in math and philosophy at the University of California, Berkeley, Subramanian is a heavy user of quant data in her studies of investor sentiment, and has been chief strategist since 2011. She recently chatted with<i>Barron’s</i>about howthe Biden administrationwill achieve economic growth, and why—despite being the firm’s head of ESG—she’s recommending energy stocks.</p><p><blockquote>Subramanian拥有加州大学伯克利分校数学和哲学双学位，在投资者情绪研究中大量使用量化数据，自2011年以来一直担任首席策略师。她最近和<i>巴伦周刊</i>关于拜登政府将如何实现经济增长，以及为什么——尽管她是该公司的ESG主管——她还是推荐能源股。</blockquote></p><p> Read the following edited excerpts for more.</p><p><blockquote>阅读以下编辑过的摘录了解更多信息。</blockquote></p><p> <b>Barron’s: President Biden has issued dozens of executive orders. How should investors digest these?</b></p><p><blockquote><b>《巴伦周刊》：拜登总统发布了数十项行政命令。投资者该如何消化这些？</b></blockquote></p><p> <b>Savita Subramanian:</b>They represent a few thematic changes and a big break from the market leadership of the past four years. This administration is less focused on asset inflation and more on real inflation, in creating jobs and reinvigorating the real economy, rather than just bolstering stock market returns. From listening to this new administration’s rhetoric, they’re not looking at barometers like theS&amp;P 500index or investment returns as a metric of success or failure. Instead, they’re focused on addressing some of the bigger inequities in the market, like income inequality. That means we’re going to see less-great market returns, but probably a bigger return in the economy overall.</p><p><blockquote><b>萨维塔·萨勃拉曼尼亚：</b>它们代表了一些主题变化以及与过去四年市场领导地位的重大突破。本届政府不太关注资产通胀，而是更关注实际通胀，创造就业机会和重振实体经济，而不仅仅是提振股市回报。从新政府的言论来看，他们并没有将标准普尔500指数或投资回报等晴雨表视为衡量成功或失败的指标。相反，他们专注于解决市场上一些更大的不平等，比如收入不平等。这意味着我们将看到不太好的市场回报，但整体经济的回报可能会更大。</blockquote></p><p> <b>Your market call is pretty tepid.</b></p><p><blockquote><b>你们的市场看涨期权相当不温不火。</b></blockquote></p><p> I’m one of the lowest forecasts on Wall Street. We’re looking for 3,800 on the S&amp;P 500. It’s a very tech-growth-heavy benchmark. We’re looking for S&amp;P earnings to grow by about 20% this year. Obviously, we’re expecting to see some multiple compression. We’re expecting to see a very strong economic recovery. Our economists Michelle Meyer and Ethan Harris are looking for 6% growth on U.S. gross domestic product. Most of that recovery should take place in the second half of this year as we see broad dispersal of vaccines and a more concerted, coordinated reopening. It’s hard to be bearish, given all the stimulus.</p><p><blockquote>我是华尔街预测最低的人之一。我们在标普500找3800人。这是一个非常注重技术增长的基准。我们预计标准普尔今年的盈利将增长约20%。显然，我们期待看到一些多重压缩。我们预计会看到非常强劲的经济复苏。我们的经济学家米歇尔·迈耶和伊森·哈里斯预计美国国内生产总值将增长6%。随着我们看到疫苗的广泛传播和更加协调一致的重新开放，大部分复苏应该会在今年下半年发生。考虑到所有的刺激措施，很难看跌。</blockquote></p><p> Here’s why we’re not bearish: Interest rates are superlow, U.S. large-caps offer great yields, relative to bonds, and the Biden administration is laser-focused on the economy. It’s hard to see a recession-driven bear market.</p><p><blockquote>这就是我们不看跌的原因：利率超低，相对于债券，美国大盘股提供了很高的收益率，而且拜登政府非常关注经济。很难看到经济衰退驱动的熊市。</blockquote></p><p> <b>The market was gripped by the spectacular rise of</b><b>GameStop</b><b>[ticker: GME]. What does it mean?</b></p><p><blockquote><b>市场被美元的惊人上涨所吸引</b><b>游戏驿站</b><b>[股票代码：GME]。这是什么意思？</b></blockquote></p><p> We’re seeing more and more of the decoupling of fundamentals from performance. It’s always troubling to see, and it smacks of speculation. A couple of things: All of the action seemed to be focused on the small-cap space. Companies with high short interest in the S&amp;P 500 behaved normally, but those in theRussell 2000behaved very atypically. The good news is this seems to be localized in smaller-market-cap stocks, so the impact is less extreme, and it’s emblematic of more speculative drama in the market, rather than in more fundamental investing.</p><p><blockquote>我们看到越来越多的基本面与业绩脱钩。看着总是很麻烦，有点投机的味道。有几件事：所有的行动似乎都集中在小盘股领域。对标普500持有高空头兴趣的公司表现正常，但罗素2000指数中的公司表现非常不典型。好消息是，这似乎仅限于小市值股票，因此影响不那么极端，而且它象征着市场中更具投机性的戏剧，而不是更基本面的投资。</blockquote></p><p> <b>What would make you more bearish?</b></p><p><blockquote><b>什么会让你更加看跌？</b></blockquote></p><p> If we saw interest rates rise meaningfully from here. A big portion of the investor base today is retirees looking for income, forced to buy the S&amp;P 500. We’ve got really tight pockets of the market where you could potentially see an inflation spike. Two years ago, we polled all of our stock analysts to ask where they were seeing input cost pressure and pricing power, and the only two sectors they cited were utilities and health care. We did the same report a couple of months ago, and almost every analyst cited inflationary pressure.</p><p><blockquote>如果我们看到利率从这里大幅上升。如今，投资者群体的很大一部分是寻求收入的退休人员，被迫购买标普500。我们的市场非常紧张，你可能会看到通胀飙升。两年前，我们对所有股票分析师进行了调查，询问他们在哪里看到了投入成本压力和定价权，他们唯一提到的两个行业是公用事业和医疗保健。几个月前我们做了同样的报告，几乎每个分析师都提到了通胀压力。</blockquote></p><p> Today, close to 70% of stocks pay a dividend that’s higher than the 10-year Treasury, which is very close to a record high. [The 10-year currently yields 1.12%.] If rates rise to 1.75%, which our economist is expecting, that proportion drops to 44%. And all of a sudden, that story vaporizes. That’s the swing factor. And that’s one reason we’re less optimistic about equities, not to mention all of the speculations we see.</p><p><blockquote>如今，近70%的股票支付的股息高于10年期国债，非常接近历史新高。[10年期国债目前收益率为1.12%。]如果利率升至我们的经济学家预期的1.75%，这一比例将降至44%。突然间，这个故事消失了。这就是摇摆因素。这是我们对股市不太乐观的原因之一，更不用说我们看到的所有猜测了。</blockquote></p><p> The similarities between today and 2000 is democratization and retail participation in the market, the decoupling of fundamentals from price. The last time we’ve seen earnings surprises met with negative reactions, as we’re seeing now, was in March 2000. The other similarity is our sell-side indicator, a very good market-timing model that looks at Wall Street’s average recommendation to stocks in a balanced fund. That model is now spitting out close to 60%, which would be a sell signal, close to 2007 and almost exactly at the same level as March 2000. All of these ducks are lining up.</p><p><blockquote>今天和2000年的相似之处是民主化和散户参与市场，基本面与价格脱钩。正如我们现在所看到的，上一次盈利意外遭遇负面反应是在2000年3月。另一个相似之处是我们的卖方指标，这是一个非常好的市场时机模型，可以查看华尔街对平衡基金中股票的平均推荐。该模型现在的收益率接近60%，这将是一个卖出信号，接近2007年，几乎与2000年3月的水平完全相同。所有这些鸭子都在排队。</blockquote></p><p> <b>So, what should investors do?</b></p><p><blockquote><b>那么，投资者应该怎么做呢？</b></blockquote></p><p></p><p> Focus on GDP-sensitive areas of the market that haven’t done well for almost a decade. Our sector overweights include financials, energy, industrials, and health care. We find some pent-up manufacturing demand from an unprecedented paralysis in the manufacturing and services economy. We’re more bullish on business investment than on consumption of durable goods. Within consumption, we’re more bullish on a pickup in consumer services than a pickup in consumer goods. Based on our credit-card data for 2020, unlike in the usual economic recession, spending trends remain strong. We had the fastest bear market. The Fed, fiscal policy, and Corporate America basically stepped up and staved off what could have been a deeper recession. Spending took place in home goods and the higher-end consumption areas of the market. Those areas could be at risk in 2021. Our sector underweights are communication services, which are half-growth, half-bond proxies; real estate; and staples.</p><p><blockquote>关注市场中对GDP敏感的领域，这些领域近十年来表现不佳。我们增持的行业包括金融、能源、工业和医疗保健。我们发现制造业和服务业经济前所未有的瘫痪带来了一些被压抑的制造业需求。我们更看好商业投资，而不是耐用品消费。在消费领域，我们更看好消费服务的回升，而不是消费品的回升。根据我们2020年的信用卡数据，与通常的经济衰退不同，支出趋势仍然强劲。我们经历了最快的熊市。美联储、财政政策和美国企业界基本上都采取了行动，避免了可能更严重的衰退。消费发生在家居用品和市场的高端消费领域。这些地区可能在2021年面临风险。我们减持的行业是通信服务，它是一半增长、一半债券的代表；房地产；还有订书钉。</blockquote></p><p> In 14 of the past 14 recessions, the recovery was led by value and cyclical. So, we’re going to see a value cycle. Growth stocks are overly discounting this low-rate, low-growth environment. An easier call to make than value is another area nobody wants to touch—smaller companies, because of liquidity, because of the oligopolistic market. We could be at the start of a longer-lived small-cap cycle, which tends to last eight to 10 years.</p><p><blockquote>在过去14次衰退中，有14次复苏是由价值和周期性主导的。因此，我们将看到一个价值周期。成长型股票过度低估了这种低利率、低增长的环境。比价值更容易制造的看涨期权是另一个没人想触及的领域——小公司，因为流动性，因为寡头垄断市场。我们可能正处于一个更长的小盘股周期的开始，这个周期往往会持续八到十年。</blockquote></p><p> <b>What about the technology and megacap parts of the market?</b></p><p><blockquote><b>市场的技术和大型股部分呢？</b></blockquote></p><p> Coming out of the tech bubble, value outperformed growth for at least seven years. Some cycles last awhile.</p><p><blockquote>走出科技泡沫后，价值至少在七年内跑赢了增长。有些周期会持续一段时间。</blockquote></p><p> What surprises me is how reluctant fund managers or institutional investors are to shed exposure to that past leadership when we’re at what looks like a break point in terms of the economy and the political environment. It’s the hot-stove mentality, because every year since 2008, where anyone has bet on rising interest rates and inflation, they’ve basically been smacked down.</p><p><blockquote>令我惊讶的是，当我们处于经济和政治环境的转折点时，基金经理或机构投资者是多么不愿意放弃对过去领导层的接触。这是一种热火朝天的心态，因为自2008年以来，每年，当有人押注利率和通胀上升时，他们基本上都会被击倒。</blockquote></p><p> More immediately, any potential reversal in Trump-era corporate tax cuts, which would make sense to fund all of the growth, would hit communication services and information technology: the two leadership sectors most overweighted by fund managers.</p><p><blockquote>更直接的是，特朗普时代的企业减税政策的任何潜在逆转都将打击通信服务和信息技术：基金经理增持最多的两个领先行业。</blockquote></p><p> <b>Let’s talk about ESG.</b></p><p><blockquote><b>再说ESG。</b></blockquote></p><p> We’ve really seen a demonstrable and well-articulated pivot of Corporate America in terms of how they’re aiming to please. They’ve gone from shareholder to stakeholder returns. That’s huge. They’re articulating and essentially promising us they care about the communities in which they operate, their employees, and customer satisfaction beyond the bottom line. I don’t think it’s anticapitalist. But I think it’s a new way of thinking about capitalism. The corporate stimulus during Covid-19 was sizable, equivalent on some level to fiscal and Fed stimulus. It was at least $1 trillion of support from Corporate America. Companies repurposed manufacturing to create ventilators, engaged in loan forbearance for consumers, made monetary donations. My own company initiated layoff freezes. It quelled a lot of consumer fears.</p><p><blockquote>我们确实看到了美国企业界在如何取悦他人方面的明显且清晰的支点。他们已经从股东回报转向利益相关者回报。那是巨大的。他们清楚地向我们承诺，他们关心他们经营所在的社区、他们的员工以及底线之外的客户满意度。我不认为这是反资本主义的。但我认为这是一种思考资本主义的新方式。Covid-19期间的企业刺激规模相当大，在某种程度上相当于财政和美联储的刺激。这是来自美国企业界至少1万亿美元的支持。公司重新利用制造业来制造呼吸机，为消费者提供贷款延期，并进行捐款。我自己的公司开始冻结裁员。它平息了许多消费者的担忧。</blockquote></p><p> There’s a learning curve that has been adopted by investors in terms of separating the real from the greenwashing. We’re also seeing big changes in the information that investors are being given about companies. Companies have realized that if they don’t publish a corporate sustainability report, they’re going to trade at a discount to their peer that does. So, that transparency and explosion in data is huge from an investor perspective. All of a sudden, you can codify all of these factors we once only thought about. But ESG is always going to be a messy process. There’s always going to be this interpretive element to it.</p><p><blockquote>投资者在区分真实与洗绿方面采用了一条学习曲线。我们还看到投资者获得的有关公司的信息发生了巨大变化。公司已经意识到，如果他们不发布企业可持续发展报告，他们的交易价格将低于发布的同行。因此，从投资者的角度来看，数据的透明度和爆炸式增长是巨大的。突然之间，你可以将所有这些我们曾经只想到的因素编纂成文。但ESG永远是一个混乱的过程。总会有这种解释的元素。</blockquote></p><p> <b>Yet despite being the global head of ESG for your firm, you’re overweight the energy sector.</b></p><p><blockquote><b>然而，尽管您是贵公司ESG的全球主管，但您却是能源行业的跑赢大盘。</b></blockquote></p><p> Renewables companies have done well, despite the fact that we had four years under an administration that wasn’t focused on these themes. It’s really great that ESG investors today have an ally in the White House. Yet you don’t need mandates from Washington politicians to get going. Investors realized that the future is renewables and are slowly phasing out traditional commodities. But we still need to keep the lights on, and things going, to get to carbon neutrality. There’s an opportunity to buy traditional energy companies that are setting more-aggressive goals of environmental compliance, but are also providing much-needed fuels to keep, to reintegrate, the economy, because we aren’t at the point where we can do everything on wind and solar. So, we’re actually overweight energy, which draws a lot of raised eyebrows. I feel totally comfortable with that because energy companies are essentially reinventing themselves.</p><p><blockquote>可再生能源公司做得很好，尽管事实上我们的政府在四年里并没有关注这些主题。如今，ESG投资者在白宫有一个盟友，这真是太好了。然而，你不需要华盛顿政客的授权就能开始行动。投资者意识到未来是可再生能源，并正在慢慢淘汰传统大宗商品。但我们仍然需要让灯亮着，让事情继续下去，以实现碳中和。有机会购买传统能源公司，这些公司正在设定更积极的环境合规目标，但也提供急需的燃料来保持和重新整合经济，因为我们还没有到可以做所有事情的地步风能和太阳能。所以，我们实际上是跑赢大盘能源公司，这引起了很多人的关注。我对此感到完全满意，因为能源公司本质上是在重塑自己。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/the-biden-stock-market-wont-be-like-the-trump-market-what-to-expect-51612535400?mod=hp_LEADSUPP_3\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.barrons.com/articles/the-biden-stock-market-wont-be-like-the-trump-market-what-to-expect-51612535400?mod=hp_LEADSUPP_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132830852","content_text":"It’s time to buycyclicalsandsmall-caps. That’s been a bold call, especially for fund managers who have acquired a “hot-stove mentality” after being burned over the past 10 years. But this time, says Savita Subramanian,Bank of America’swidely followed strategist, outperformance could last for years, as it did after the tech bubble burst. Finding promising investments is even more important today, especially if the market itself delivers lackluster returns, as she expects.\nA double major in math and philosophy at the University of California, Berkeley, Subramanian is a heavy user of quant data in her studies of investor sentiment, and has been chief strategist since 2011. She recently chatted withBarron’sabout howthe Biden administrationwill achieve economic growth, and why—despite being the firm’s head of ESG—she’s recommending energy stocks.\nRead the following edited excerpts for more.\nBarron’s: President Biden has issued dozens of executive orders. How should investors digest these?\nSavita Subramanian:They represent a few thematic changes and a big break from the market leadership of the past four years. This administration is less focused on asset inflation and more on real inflation, in creating jobs and reinvigorating the real economy, rather than just bolstering stock market returns. From listening to this new administration’s rhetoric, they’re not looking at barometers like theS&P 500index or investment returns as a metric of success or failure. Instead, they’re focused on addressing some of the bigger inequities in the market, like income inequality. That means we’re going to see less-great market returns, but probably a bigger return in the economy overall.\nYour market call is pretty tepid.\nI’m one of the lowest forecasts on Wall Street. We’re looking for 3,800 on the S&P 500. It’s a very tech-growth-heavy benchmark. We’re looking for S&P earnings to grow by about 20% this year. Obviously, we’re expecting to see some multiple compression. We’re expecting to see a very strong economic recovery. Our economists Michelle Meyer and Ethan Harris are looking for 6% growth on U.S. gross domestic product. Most of that recovery should take place in the second half of this year as we see broad dispersal of vaccines and a more concerted, coordinated reopening. It’s hard to be bearish, given all the stimulus.\nHere’s why we’re not bearish: Interest rates are superlow, U.S. large-caps offer great yields, relative to bonds, and the Biden administration is laser-focused on the economy. It’s hard to see a recession-driven bear market.\nThe market was gripped by the spectacular rise ofGameStop[ticker: GME]. What does it mean?\nWe’re seeing more and more of the decoupling of fundamentals from performance. It’s always troubling to see, and it smacks of speculation. A couple of things: All of the action seemed to be focused on the small-cap space. Companies with high short interest in the S&P 500 behaved normally, but those in theRussell 2000behaved very atypically. The good news is this seems to be localized in smaller-market-cap stocks, so the impact is less extreme, and it’s emblematic of more speculative drama in the market, rather than in more fundamental investing.\nWhat would make you more bearish?\nIf we saw interest rates rise meaningfully from here. A big portion of the investor base today is retirees looking for income, forced to buy the S&P 500. We’ve got really tight pockets of the market where you could potentially see an inflation spike. Two years ago, we polled all of our stock analysts to ask where they were seeing input cost pressure and pricing power, and the only two sectors they cited were utilities and health care. We did the same report a couple of months ago, and almost every analyst cited inflationary pressure.\nToday, close to 70% of stocks pay a dividend that’s higher than the 10-year Treasury, which is very close to a record high. [The 10-year currently yields 1.12%.] If rates rise to 1.75%, which our economist is expecting, that proportion drops to 44%. And all of a sudden, that story vaporizes. That’s the swing factor. And that’s one reason we’re less optimistic about equities, not to mention all of the speculations we see.\nThe similarities between today and 2000 is democratization and retail participation in the market, the decoupling of fundamentals from price. The last time we’ve seen earnings surprises met with negative reactions, as we’re seeing now, was in March 2000. The other similarity is our sell-side indicator, a very good market-timing model that looks at Wall Street’s average recommendation to stocks in a balanced fund. That model is now spitting out close to 60%, which would be a sell signal, close to 2007 and almost exactly at the same level as March 2000. All of these ducks are lining up.\nSo, what should investors do?\nFocus on GDP-sensitive areas of the market that haven’t done well for almost a decade. Our sector overweights include financials, energy, industrials, and health care. We find some pent-up manufacturing demand from an unprecedented paralysis in the manufacturing and services economy. We’re more bullish on business investment than on consumption of durable goods. Within consumption, we’re more bullish on a pickup in consumer services than a pickup in consumer goods. Based on our credit-card data for 2020, unlike in the usual economic recession, spending trends remain strong. We had the fastest bear market. The Fed, fiscal policy, and Corporate America basically stepped up and staved off what could have been a deeper recession. Spending took place in home goods and the higher-end consumption areas of the market. Those areas could be at risk in 2021. Our sector underweights are communication services, which are half-growth, half-bond proxies; real estate; and staples.\nIn 14 of the past 14 recessions, the recovery was led by value and cyclical. So, we’re going to see a value cycle. Growth stocks are overly discounting this low-rate, low-growth environment. An easier call to make than value is another area nobody wants to touch—smaller companies, because of liquidity, because of the oligopolistic market. We could be at the start of a longer-lived small-cap cycle, which tends to last eight to 10 years.\nWhat about the technology and megacap parts of the market?\nComing out of the tech bubble, value outperformed growth for at least seven years. Some cycles last awhile.\nWhat surprises me is how reluctant fund managers or institutional investors are to shed exposure to that past leadership when we’re at what looks like a break point in terms of the economy and the political environment. It’s the hot-stove mentality, because every year since 2008, where anyone has bet on rising interest rates and inflation, they’ve basically been smacked down.\nMore immediately, any potential reversal in Trump-era corporate tax cuts, which would make sense to fund all of the growth, would hit communication services and information technology: the two leadership sectors most overweighted by fund managers.\nLet’s talk about ESG.\nWe’ve really seen a demonstrable and well-articulated pivot of Corporate America in terms of how they’re aiming to please. They’ve gone from shareholder to stakeholder returns. That’s huge. They’re articulating and essentially promising us they care about the communities in which they operate, their employees, and customer satisfaction beyond the bottom line. I don’t think it’s anticapitalist. But I think it’s a new way of thinking about capitalism. The corporate stimulus during Covid-19 was sizable, equivalent on some level to fiscal and Fed stimulus. It was at least $1 trillion of support from Corporate America. Companies repurposed manufacturing to create ventilators, engaged in loan forbearance for consumers, made monetary donations. My own company initiated layoff freezes. It quelled a lot of consumer fears.\nThere’s a learning curve that has been adopted by investors in terms of separating the real from the greenwashing. We’re also seeing big changes in the information that investors are being given about companies. Companies have realized that if they don’t publish a corporate sustainability report, they’re going to trade at a discount to their peer that does. So, that transparency and explosion in data is huge from an investor perspective. All of a sudden, you can codify all of these factors we once only thought about. But ESG is always going to be a messy process. There’s always going to be this interpretive element to it.\nYet despite being the global head of ESG for your firm, you’re overweight the energy sector.\nRenewables companies have done well, despite the fact that we had four years under an administration that wasn’t focused on these themes. It’s really great that ESG investors today have an ally in the White House. Yet you don’t need mandates from Washington politicians to get going. Investors realized that the future is renewables and are slowly phasing out traditional commodities. But we still need to keep the lights on, and things going, to get to carbon neutrality. There’s an opportunity to buy traditional energy companies that are setting more-aggressive goals of environmental compliance, but are also providing much-needed fuels to keep, to reintegrate, the economy, because we aren’t at the point where we can do everything on wind and solar. So, we’re actually overweight energy, which draws a lot of raised eyebrows. I feel totally comfortable with that because energy companies are essentially reinventing themselves.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":397,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":153398232,"gmtCreate":1625009161126,"gmtModify":1633946013404,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"😱 Wow...&nbsp;","listText":"😱 Wow...&nbsp;","text":"😱 Wow...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/153398232","repostId":"2147603368","repostType":4,"isVote":1,"tweetType":1,"viewCount":717,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":112753332,"gmtCreate":1622936017026,"gmtModify":1634096884937,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"Yes sure it will..! Its just a matter of time..!&nbsp;","listText":"Yes sure it will..! Its just a matter of time..!&nbsp;","text":"Yes sure it will..! Its just a matter of time..!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/112753332","repostId":"1148130971","repostType":4,"repost":{"id":"1148130971","kind":"news","pubTimestamp":1622866524,"share":"https://www.laohu8.com/m/news/1148130971?lang=zh_CN&edition=full","pubTime":"2021-06-05 12:15","market":"us","language":"en","title":"Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148130971","media":"seekingalpha","summary":"NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fas","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.</li>  <li>The company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.</li>  <li>We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b31b2f189fa181e941126674e0b4c0b\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Drew Angerer/Getty Images News via Getty Images</span></p><p><blockquote><ul><li>蔚来的股价在过去一年飙升了816%以上，在3月初的成长股抛售之前，在2月初达到了近62美元的峰值。</li><li>该公司的创新方法和海外扩张战略，加上全球电气化和自动化市场情绪日益高涨，预计将提振该公司的估值。</li><li>我们相信，随着自动驾驶成为现实，全球电动汽车销量持续增长，蔚来股价到2025年将飙升至160美元以上。</li></ul><p class=\"t-img-caption\"><span>摄影：Drew Angerer/Getty Images新闻来自Getty Images</span></p></blockquote></p><p> Despite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a&nbsp;price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).</p><p><blockquote>尽管蔚来（纽约证券交易所股票代码：蔚来）是一个中国本土电动汽车（“EV”）品牌，最近才开始向欧洲进行海外扩张，但近年来已经在电动汽车行业狂热投资者中获得了国际关注。距离蔚来于2018年中期首次交付仅过去了短短三年，但许多人已经想知道其股价是否能达到与行业领导者特斯拉（纳斯达克股票代码：TSLA）类似的高度。尽管考虑到特斯拉目前的股价超过每股600美元，市值超过6000亿美元，这有点牵强，但我们确实相信蔚来有潜力在2025年之前突破每股100美元。就连华尔街分析师也对该公司的未来保持乐观，他们将目标价定为接近60美元，根据上次交易股价42.34美元（6月1日）计算，该目标价有超过35%的上涨潜力。</blockquote></p><p> Founded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.</p><p><blockquote>蔚来成立于2014年，迄今在华销售和交付汽车已超过10万辆。该公司拥有一支由五款零排放、全电池驱动的车型组成的车队，从跑车到豪华轿车和全尺寸SUV。除了汽车之外，蔚来还因其在创新技术方面取得的重大进展而闻名，包括最先进的电池解决方案、人工智能和自动驾驶。该公司最近还将他们的全球扩张计划变成了现实，第一家海外蔚来商店将于2021年第三季度在挪威奥斯陆开业。我们认为，股价达到100美元不再是“如果”的问题，而是“何时”的问题。</blockquote></p><p> <b>A Trailblazer in Innovative Technology</b></p><p><blockquote><b>创新技术的开拓者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16d9fd877602d5604bc3a69593badfdf\" tg-width=\"640\" tg-height=\"262\"><span>Source:ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the&nbsp;181-mile average travel range of electric vehicles&nbsp;currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are&nbsp;more than 226 battery swapping stations&nbsp;across China, with more on the way following a recent&nbsp;strategic partnership agreement&nbsp;between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.</p><p><blockquote>蔚来一直表现出令人不安的创新者的特征。该品牌因其在电池交换技术“Power Swap”方面的突破而广为人知，该技术为蔚来车主提供了一种快速便捷的解决方案，以解决电动汽车行驶里程通常有限的问题。与加油站类似，换电是一个电池交换站，可以在三分钟内将没电的电池换成充满电的电池；充满电的电池使蔚来汽车能够行驶435英里，是目前市场上电动汽车平均行驶里程181英里的两倍多。蔚来车主可以选择订阅“电池即服务”（“BaaS”）套餐，这是一项按月订阅的服务，为蔚来车主根据个人需求提供电池升级的灵活选择。该公司目前提供标准75 kWh电池，充满电后续航里程可达310英里，增强型100 kWh电池，充满电后续航里程可达435英里；两者都可供蔚来车主在BaaS下按月选择。迄今为止，全国已有超过226个电池交换站，继蔚来与中石化最近达成战略合作协议后，更多的电池交换站正在建设中。蔚来的车辆还与当地竞争对手小鹏汽车（纽约证券交易所股票代码：XPEV）在中国164个城市提供的1,140个汽车充电站兼容，这进一步增强了其为蔚来车主提供的现有充电基础设施网络。</blockquote></p><p> In addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of&nbsp;EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s&nbsp;NOMI AI, the world’s first in-vehicle artificial intelligence.</p><p><blockquote>除了长期维持蔚来电动汽车所需的发达基础设施网络外，该公司还一直在努力完善其自动驾驶和人工智能技术，以在更广泛的电动汽车和技术领域保持竞争力。自2016年以来，蔚来一直在对其自动驾驶系统进行测试，并于2018年在北京的公共道路上进行了首次测试。该公司对未来客运的承诺也通过EVE的开发得到了证明，EVE是该品牌的自动驾驶概念车，由蔚来的NOMI AI（世界上第一个车载人工智能）提供豪华、舒适和安全的体验。</blockquote></p><p></p><p> To further enhance their progress in autonomous driving technology, NIO has recently&nbsp;partnered with Mobileye&nbsp;– an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.</p><p><blockquote>为了进一步推动自动驾驶技术的进步，蔚来最近与Mobileye合作，Mobileye是一家英特尔旗下（纳斯达克股票代码：INTC）公司，以开发“EyeQ芯片”而闻名，目前已被超过27家汽车制造商用于其辅助驾驶技术——开发和商业化不需要人机交互的驾驶自动化（即“4级”自动驾驶）。他们的合作预计将加速蔚来推出“自动驾驶即服务”（“ADaaS”）套餐，这是他们的自动驾驶技术“蔚来自动驾驶”（“NAD”）的每月订阅。然而，与特斯拉的“全自动驾驶”套件类似，预计将于2022年推出的NAD技术尚未使蔚来汽车能够在没有人工干预的情况下驾驶，但它确实使蔚来在通往4级自动驾驶的竞赛中与行业领导者特斯拉相提并论。蔚来车主将可以选择订阅ADaaS，每月订阅费为人民币680元。如今上路的蔚来汽车超过10.2万辆，新的订阅套餐预计将产生8.4亿元人民币（1.32亿美元）的年销售额增量；假设大多数现有蔚来车主注册的平均车辆寿命为12年，该服务推出后的额外收入流价值约为100亿元人民币（16亿美元）。</blockquote></p><p> NIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an&nbsp;estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).</p><p><blockquote>蔚来在自动驾驶技术方面的不断发展预计将在不久的将来使公司及其股东受益匪浅。到2025年，全球自动驾驶汽车市场将成为增长最快、需求最大的细分市场之一，估计价值为1.6万亿美元。该市场6%的份额将为蔚来现有670亿美元的市值增加至少1000亿美元的估值，使其每股价值超过100美元。考虑到蔚来是目前极少数在自动驾驶领域取得切实成果的全电动汽车制造商之一，并且正在积极增长其海外销量，我们有信心该公司有能力占据上述市场6%以上的份额，并轻松实现到2025年每股股价超过100美元。结合全球消费者偏好向电气化和自动化的转变，我们预计到2025财年汽车销量约为30万辆，总收入约为1400亿元人民币（220亿美元）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b6c800a04e6df92802f6893d214eecdd\" tg-width=\"640\" tg-height=\"213\"><span>Source: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部预测（蔚来_-_Forecasted_Financial_Information.pdf）。</span></p></blockquote></p><p> <b>Global Expansion</b></p><p><blockquote><b>全球扩张</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/537449f8f7ee9c736b48c1776cbb7259\" tg-width=\"640\" tg-height=\"249\"><span>Source: ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> Another catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first&nbsp;overseas sales and service centre in Oslo, Norway&nbsp;in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the&nbsp;ES8, which currently retails at a&nbsp;starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the&nbsp;ET7, to follow in 2022.</p><p><blockquote>推动蔚来股价突破100美元的另一个催化剂是他们正在进行的海外扩张努力。蔚来一直公开表示其全球扩张的意图，特别是在美国和欧洲，作为其成为行业领导者计划的一部分。蔚来将于9月在挪威奥斯陆开设首个海外销售及服务中心。该品牌在挪威的足迹将于2022年进一步扩大，将在Bergen、Stavanger、Trondheim和Kristiansand开设四家蔚来商店。除了直销和服务中心外，蔚来还将在欧洲推出完整的充电地图，首先是在挪威的四个蔚来换电站，为新蔚来车主提供该品牌赖以成功的便利和续航里程。蔚来的旗舰SUV ES 8目前零售价约为67,000美元，将是首款引入欧洲市场的车型，该品牌最新的全尺寸轿车ET 7将于2022年紧随其后。</blockquote></p><p> With a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.</p><p><blockquote>凭借在中国豪华电动汽车市场的良好销售记录，以及与全球公认的特斯拉相当的规格，蔚来没有理由不在海外取得成功。正如前面提到的，蔚来的车辆充满电后的行驶里程可达435英里，这使得它成为潜在的欧美车主的理想选择，他们正在寻找一个可靠的伴侣来陪伴他们进行日常通勤和长途旅行。蔚来的外观和内饰设计也是现代、豪华的，可与欧洲和北美人口的首选相媲美。结合多样化的产品线和价格范围，蔚来有能力满足全球范围内对电动汽车不断增长的需求。</blockquote></p><p> <b>NIO’s Historical Performance</b></p><p><blockquote><b>蔚来的历史表现</b></blockquote></p><p></p><p> Just a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a&nbsp;capital injection of RMB 7 billion&nbsp;(approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its&nbsp;IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.</p><p><blockquote>就在一年多前，尽管汽车销量持续增长，但由于流动性问题，蔚来股价跌至2美元以下的历史低点。2020年年中，中国合肥市政府向蔚来注资70亿元人民币（约合10亿美元）。该安排导致创建了“蔚来中国”，作为持有蔚来所有核心业务和资产的运营实体；蔚来目前持有蔚来90.36%的所有权权益，而“合肥战略投资者”联合体持有馀下9.64%。这种合作关系成为了公司的生命线；额外资本为公司的运营和汽车销售带来了显着改善，这反映在其强劲的财务业绩和2020年夏季股价的上涨趋势上。截至2020年第二季度末，蔚来总收入环比增长171%，股价平均反弹近20%。该公司股价在2020年第三季度上涨了两倍多，平均为15.40美元，并继续攀升至第四季度平均38.70美元。截至2021年3月31日的最新季度末，蔚来的平均股价为50.97美元，并在2月份达到近62美元的峰值，是2018年IPO价格的10倍多。该公司目前的市值超过670亿美元，超过了其在纽约证券交易所上市时仅10亿美元的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a1d7edb18c1762028ba54f617e1982\" tg-width=\"640\" tg-height=\"250\"><span>Source: Author, with data from ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自ir.nio.com</span></p></blockquote></p><p> NIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the&nbsp;growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the&nbsp;recently renewed manufacturing agreement&nbsp;with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.</p><p><blockquote>自今年早些时候股价在2月底成长型股票遭到抛售之前见顶以来，蔚来的基本面也只显示出稳步改善。2021年的交付量继续呈指数级增长，第一季度交付量超过20,000辆，几乎占2020年总交付量的50%。该公司继续展现出乐观的前景，4月份交付了超过7,100辆汽车，同比增长超过125%。得益于更高的交付量和有效的成本管理措施，蔚来在2021年第一季度的经营活动中也保持了正现金流，这些措施将其毛利率提高至19.5%，与特斯拉等行业领导者的毛利率相当。第一季度毛利率为21%。如上所述，我们预计到2025财年汽车销量将接近30万辆，这意味着总收入约为1400亿元人民币（220亿美元）（每股18.60美元）。我们最近与合资企业“江淮汽车集团”（“江淮汽车”）续签的制造协议进一步证实了我们对2025财年的汽车销售预测，该协议将目前100,000辆的年产能提高到240,000辆；正在建设中的“NeoPark”亦预期将新增100万台的年产能，这进一步支持了我们对蔚来继续致力于发展其业务的积极展望。考虑到行业同行特斯拉目前的市盈率为16.43倍，年收入约为420亿美元（第一季度收入年化为103.89亿美元），将相同比例应用于蔚来预测的2025财年总收入预计将产生市盈率8.7倍，股价超过160美元。</blockquote></p><p> <b>NIO vs. LI and XPEV</b></p><p><blockquote><b>蔚来vs.LI和XPEV</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af8fa939f92be448d1f427a6ac4bfb25\" tg-width=\"640\" tg-height=\"352\"><span>Source: Finviz</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Finviz</span></p></blockquote></p><p> We have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.</p><p><blockquote>我们还将蔚来目前的市盈率与其国内同行进行了比较，以衡量蔚来股价突破100美元的时间表。蔚来目前的市盈率约为14.88倍，而国内行业同行理想汽车（纳斯达克：LI）和XPEV目前的市盈率分别为14.46倍和21.31倍。</blockquote></p><p></p><p> Considering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.</p><p><blockquote>考虑到蔚来的技术、收入、全球足迹和现金流都强于LI和XPEV，前者的市盈率应该远高于后两者。即使蔚来的市盈率达到18.1倍（XPEV的中点），也将推动该公司当前股价上涨至51.50美元，基于上次交易股价42.34美元（6月1日），这意味着22%的上涨潜力。根据我们对蔚来2025财年收入1400亿元人民币（220亿美元）或每股18.60美元的预测，即使是18.1倍的一半也足以使蔚来的股价在2025年突破160美元；我们认为，蔚来的交易倍数是可以实现的，因为届时从运营中获得的现金和技术进步将使其走上电动汽车行业持续长期增长的轨道，预计这种增长将持续到2030年及以后，届时该品牌的4级自动驾驶技术开发完成并商业化。</blockquote></p><p> <b>Business Risks and Challenges</b></p><p><blockquote><b>业务风险及挑战</b></blockquote></p><p> As mentioned in one of my&nbsp;previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s&nbsp;denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.</p><p><blockquote>正如我在之前关于蔚来的一篇文章中提到的，《外国公司问责法》（“HFCA法案”）仍然是公司股价面临的最重大威胁之一。目前，中国的公共会计师事务所不符合SEC要求的PCAOB检查规则，2020年12月HFCA法案的颁布要求这些公共会计师事务所在颁布之日起三年内遵守PCAOB的检查要求；否则，上述事务所审计的所有上市公司都将面临退市风险。蔚来目前由普华永道中天会计师事务所（LLP）进行审计，该事务所被列入PCAOB的拒绝访问名单。如果中国当局和PCAOB不能很快就进行检查达成协议，从纽约证券交易所退市的潜在威胁可能会成为投资者的威慑因素，并最终导致蔚来股价长期下跌。</blockquote></p><p> Another imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.</p><p><blockquote>蔚来业务面临的另一个迫在眉睫的挑战是持续的全球芯片供应短缺。随着汽车行业越来越依赖芯片来管理车辆的每一项功能，汽车制造商的需求和芯片制造商的供应之间的差距越来越大。蔚来也不例外地受到持续的芯片供应危机的影响——2021年3月，蔚来停止了江淮蔚来制造工厂的生产活动五个工作日，以调整生产水平。然而，该公司继续有效地应对这种情况，交付量逐月增加就证明了这一点；在蔚来4月份最新的交付更新新闻稿中，该公司继续满足市场需求，交付了超过7,100辆汽车，同比增长125%。</blockquote></p><p> Competition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.</p><p><blockquote>近年来，电动汽车行业的竞争也愈演愈烈。在过去十年中，由于对气候变化的日益担忧以及传统汽油燃料汽车和电动汽车之间的价格平价，消费者对电动汽车的态度发生了巨大变化。随着第三方原始设备制造商更容易获得汽车电池解决方案，新兴电动汽车制造商的进入门槛也大幅降低；随着初始投资变得比2003年特斯拉更加合理，新进入者现在更热衷于参与不断增长的电动汽车行业的盈利机会，当时电动汽车对许多人来说仍然只是一个概念。除了新进入者之外，福特（纽约证券交易所股票代码：F）等传统汽油燃料汽车制造商也开始将全电池驱动的汽车纳入其车队，以满足不断变化的消费者需求并保持在汽车行业内的竞争力。然而，我们相信蔚来拥有在新的竞争格局中长期保持成功所需的品牌、客户体验、生产战略、人才和商业模式（此处进一步分析）。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> NIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.</p><p><blockquote>蔚来已经在中国国内市场建立了强大的品牌影响力，中国国内市场是目前增长最快的电动汽车市场之一，2020年占全球电动汽车销量的40%以上。结合其生产优质电动汽车、建设创新充电基础设施、在自动驾驶技术开发方面取得突破性进展以及执行海外扩张战略的能力，蔚来正在有效缩小与特斯拉在全球电动汽车领域的差距。我们相信，由于汽车行业对电气化和自动化的需求不断增长，未来五年将是电动汽车和科技公司的转型时代，蔚来已经证明在这方面表现出色。其持续成就的价值将很快反映在其股价中，对于那些希望从即将到来的绿色转型和自动化时代中获利的人来说，这使其成为值得选择的股票。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Can NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCan NIO Stock Reach $100? We Think It's A Matter Of 'When' Not 'If'<blockquote>蔚来股价能达到100美元吗？我们认为这是“何时”的问题，而不是“如果”的问题</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-05 12:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>NIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.</li>  <li>The company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.</li>  <li>We believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7b31b2f189fa181e941126674e0b4c0b\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Drew Angerer/Getty Images News via Getty Images</span></p><p><blockquote><ul><li>蔚来的股价在过去一年飙升了816%以上，在3月初的成长股抛售之前，在2月初达到了近62美元的峰值。</li><li>该公司的创新方法和海外扩张战略，加上全球电气化和自动化市场情绪日益高涨，预计将提振该公司的估值。</li><li>我们相信，随着自动驾驶成为现实，全球电动汽车销量持续增长，蔚来股价到2025年将飙升至160美元以上。</li></ul><p class=\"t-img-caption\"><span>摄影：Drew Angerer/Getty Images新闻来自Getty Images</span></p></blockquote></p><p> Despite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a&nbsp;price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).</p><p><blockquote>尽管蔚来（纽约证券交易所股票代码：蔚来）是一个中国本土电动汽车（“EV”）品牌，最近才开始向欧洲进行海外扩张，但近年来已经在电动汽车行业狂热投资者中获得了国际关注。距离蔚来于2018年中期首次交付仅过去了短短三年，但许多人已经想知道其股价是否能达到与行业领导者特斯拉（纳斯达克股票代码：TSLA）类似的高度。尽管考虑到特斯拉目前的股价超过每股600美元，市值超过6000亿美元，这有点牵强，但我们确实相信蔚来有潜力在2025年之前突破每股100美元。就连华尔街分析师也对该公司的未来保持乐观，他们将目标价定为接近60美元，根据上次交易股价42.34美元（6月1日）计算，该目标价有超过35%的上涨潜力。</blockquote></p><p> Founded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.</p><p><blockquote>蔚来成立于2014年，迄今在华销售和交付汽车已超过10万辆。该公司拥有一支由五款零排放、全电池驱动的车型组成的车队，从跑车到豪华轿车和全尺寸SUV。除了汽车之外，蔚来还因其在创新技术方面取得的重大进展而闻名，包括最先进的电池解决方案、人工智能和自动驾驶。该公司最近还将他们的全球扩张计划变成了现实，第一家海外蔚来商店将于2021年第三季度在挪威奥斯陆开业。我们认为，股价达到100美元不再是“如果”的问题，而是“何时”的问题。</blockquote></p><p> <b>A Trailblazer in Innovative Technology</b></p><p><blockquote><b>创新技术的开拓者</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16d9fd877602d5604bc3a69593badfdf\" tg-width=\"640\" tg-height=\"262\"><span>Source:ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> NIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the&nbsp;181-mile average travel range of electric vehicles&nbsp;currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are&nbsp;more than 226 battery swapping stations&nbsp;across China, with more on the way following a recent&nbsp;strategic partnership agreement&nbsp;between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.</p><p><blockquote>蔚来一直表现出令人不安的创新者的特征。该品牌因其在电池交换技术“Power Swap”方面的突破而广为人知，该技术为蔚来车主提供了一种快速便捷的解决方案，以解决电动汽车行驶里程通常有限的问题。与加油站类似，换电是一个电池交换站，可以在三分钟内将没电的电池换成充满电的电池；充满电的电池使蔚来汽车能够行驶435英里，是目前市场上电动汽车平均行驶里程181英里的两倍多。蔚来车主可以选择订阅“电池即服务”（“BaaS”）套餐，这是一项按月订阅的服务，为蔚来车主根据个人需求提供电池升级的灵活选择。该公司目前提供标准75 kWh电池，充满电后续航里程可达310英里，增强型100 kWh电池，充满电后续航里程可达435英里；两者都可供蔚来车主在BaaS下按月选择。迄今为止，全国已有超过226个电池交换站，继蔚来与中石化最近达成战略合作协议后，更多的电池交换站正在建设中。蔚来的车辆还与当地竞争对手小鹏汽车（纽约证券交易所股票代码：XPEV）在中国164个城市提供的1,140个汽车充电站兼容，这进一步增强了其为蔚来车主提供的现有充电基础设施网络。</blockquote></p><p> In addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of&nbsp;EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s&nbsp;NOMI AI, the world’s first in-vehicle artificial intelligence.</p><p><blockquote>除了长期维持蔚来电动汽车所需的发达基础设施网络外，该公司还一直在努力完善其自动驾驶和人工智能技术，以在更广泛的电动汽车和技术领域保持竞争力。自2016年以来，蔚来一直在对其自动驾驶系统进行测试，并于2018年在北京的公共道路上进行了首次测试。该公司对未来客运的承诺也通过EVE的开发得到了证明，EVE是该品牌的自动驾驶概念车，由蔚来的NOMI AI（世界上第一个车载人工智能）提供豪华、舒适和安全的体验。</blockquote></p><p></p><p> To further enhance their progress in autonomous driving technology, NIO has recently&nbsp;partnered with Mobileye&nbsp;– an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.</p><p><blockquote>为了进一步推动自动驾驶技术的进步，蔚来最近与Mobileye合作，Mobileye是一家英特尔旗下（纳斯达克股票代码：INTC）公司，以开发“EyeQ芯片”而闻名，目前已被超过27家汽车制造商用于其辅助驾驶技术——开发和商业化不需要人机交互的驾驶自动化（即“4级”自动驾驶）。他们的合作预计将加速蔚来推出“自动驾驶即服务”（“ADaaS”）套餐，这是他们的自动驾驶技术“蔚来自动驾驶”（“NAD”）的每月订阅。然而，与特斯拉的“全自动驾驶”套件类似，预计将于2022年推出的NAD技术尚未使蔚来汽车能够在没有人工干预的情况下驾驶，但它确实使蔚来在通往4级自动驾驶的竞赛中与行业领导者特斯拉相提并论。蔚来车主将可以选择订阅ADaaS，每月订阅费为人民币680元。如今上路的蔚来汽车超过10.2万辆，新的订阅套餐预计将产生8.4亿元人民币（1.32亿美元）的年销售额增量；假设大多数现有蔚来车主注册的平均车辆寿命为12年，该服务推出后的额外收入流价值约为100亿元人民币（16亿美元）。</blockquote></p><p> NIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an&nbsp;estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).</p><p><blockquote>蔚来在自动驾驶技术方面的不断发展预计将在不久的将来使公司及其股东受益匪浅。到2025年，全球自动驾驶汽车市场将成为增长最快、需求最大的细分市场之一，估计价值为1.6万亿美元。该市场6%的份额将为蔚来现有670亿美元的市值增加至少1000亿美元的估值，使其每股价值超过100美元。考虑到蔚来是目前极少数在自动驾驶领域取得切实成果的全电动汽车制造商之一，并且正在积极增长其海外销量，我们有信心该公司有能力占据上述市场6%以上的份额，并轻松实现到2025年每股股价超过100美元。结合全球消费者偏好向电气化和自动化的转变，我们预计到2025财年汽车销量约为30万辆，总收入约为1400亿元人民币（220亿美元）。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b6c800a04e6df92802f6893d214eecdd\" tg-width=\"640\" tg-height=\"213\"><span>Source: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自我们的内部预测（蔚来_-_Forecasted_Financial_Information.pdf）。</span></p></blockquote></p><p> <b>Global Expansion</b></p><p><blockquote><b>全球扩张</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/537449f8f7ee9c736b48c1776cbb7259\" tg-width=\"640\" tg-height=\"249\"><span>Source: ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：ir.nio.com</span></p></blockquote></p><p> Another catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first&nbsp;overseas sales and service centre in Oslo, Norway&nbsp;in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the&nbsp;ES8, which currently retails at a&nbsp;starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the&nbsp;ET7, to follow in 2022.</p><p><blockquote>推动蔚来股价突破100美元的另一个催化剂是他们正在进行的海外扩张努力。蔚来一直公开表示其全球扩张的意图，特别是在美国和欧洲，作为其成为行业领导者计划的一部分。蔚来将于9月在挪威奥斯陆开设首个海外销售及服务中心。该品牌在挪威的足迹将于2022年进一步扩大，将在Bergen、Stavanger、Trondheim和Kristiansand开设四家蔚来商店。除了直销和服务中心外，蔚来还将在欧洲推出完整的充电地图，首先是在挪威的四个蔚来换电站，为新蔚来车主提供该品牌赖以成功的便利和续航里程。蔚来的旗舰SUV ES 8目前零售价约为67,000美元，将是首款引入欧洲市场的车型，该品牌最新的全尺寸轿车ET 7将于2022年紧随其后。</blockquote></p><p> With a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.</p><p><blockquote>凭借在中国豪华电动汽车市场的良好销售记录，以及与全球公认的特斯拉相当的规格，蔚来没有理由不在海外取得成功。正如前面提到的，蔚来的车辆充满电后的行驶里程可达435英里，这使得它成为潜在的欧美车主的理想选择，他们正在寻找一个可靠的伴侣来陪伴他们进行日常通勤和长途旅行。蔚来的外观和内饰设计也是现代、豪华的，可与欧洲和北美人口的首选相媲美。结合多样化的产品线和价格范围，蔚来有能力满足全球范围内对电动汽车不断增长的需求。</blockquote></p><p> <b>NIO’s Historical Performance</b></p><p><blockquote><b>蔚来的历史表现</b></blockquote></p><p></p><p> Just a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a&nbsp;capital injection of RMB 7 billion&nbsp;(approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its&nbsp;IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.</p><p><blockquote>就在一年多前，尽管汽车销量持续增长，但由于流动性问题，蔚来股价跌至2美元以下的历史低点。2020年年中，中国合肥市政府向蔚来注资70亿元人民币（约合10亿美元）。该安排导致创建了“蔚来中国”，作为持有蔚来所有核心业务和资产的运营实体；蔚来目前持有蔚来90.36%的所有权权益，而“合肥战略投资者”联合体持有馀下9.64%。这种合作关系成为了公司的生命线；额外资本为公司的运营和汽车销售带来了显着改善，这反映在其强劲的财务业绩和2020年夏季股价的上涨趋势上。截至2020年第二季度末，蔚来总收入环比增长171%，股价平均反弹近20%。该公司股价在2020年第三季度上涨了两倍多，平均为15.40美元，并继续攀升至第四季度平均38.70美元。截至2021年3月31日的最新季度末，蔚来的平均股价为50.97美元，并在2月份达到近62美元的峰值，是2018年IPO价格的10倍多。该公司目前的市值超过670亿美元，超过了其在纽约证券交易所上市时仅10亿美元的市值。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75a1d7edb18c1762028ba54f617e1982\" tg-width=\"640\" tg-height=\"250\"><span>Source: Author, with data from ir.nio.com</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者，数据来自ir.nio.com</span></p></blockquote></p><p> NIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the&nbsp;growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the&nbsp;recently renewed manufacturing agreement&nbsp;with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.</p><p><blockquote>自今年早些时候股价在2月底成长型股票遭到抛售之前见顶以来，蔚来的基本面也只显示出稳步改善。2021年的交付量继续呈指数级增长，第一季度交付量超过20,000辆，几乎占2020年总交付量的50%。该公司继续展现出乐观的前景，4月份交付了超过7,100辆汽车，同比增长超过125%。得益于更高的交付量和有效的成本管理措施，蔚来在2021年第一季度的经营活动中也保持了正现金流，这些措施将其毛利率提高至19.5%，与特斯拉等行业领导者的毛利率相当。第一季度毛利率为21%。如上所述，我们预计到2025财年汽车销量将接近30万辆，这意味着总收入约为1400亿元人民币（220亿美元）（每股18.60美元）。我们最近与合资企业“江淮汽车集团”（“江淮汽车”）续签的制造协议进一步证实了我们对2025财年的汽车销售预测，该协议将目前100,000辆的年产能提高到240,000辆；正在建设中的“NeoPark”亦预期将新增100万台的年产能，这进一步支持了我们对蔚来继续致力于发展其业务的积极展望。考虑到行业同行特斯拉目前的市盈率为16.43倍，年收入约为420亿美元（第一季度收入年化为103.89亿美元），将相同比例应用于蔚来预测的2025财年总收入预计将产生市盈率8.7倍，股价超过160美元。</blockquote></p><p> <b>NIO vs. LI and XPEV</b></p><p><blockquote><b>蔚来vs.LI和XPEV</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/af8fa939f92be448d1f427a6ac4bfb25\" tg-width=\"640\" tg-height=\"352\"><span>Source: Finviz</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Finviz</span></p></blockquote></p><p> We have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.</p><p><blockquote>我们还将蔚来目前的市盈率与其国内同行进行了比较，以衡量蔚来股价突破100美元的时间表。蔚来目前的市盈率约为14.88倍，而国内行业同行理想汽车（纳斯达克：LI）和XPEV目前的市盈率分别为14.46倍和21.31倍。</blockquote></p><p></p><p> Considering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.</p><p><blockquote>考虑到蔚来的技术、收入、全球足迹和现金流都强于LI和XPEV，前者的市盈率应该远高于后两者。即使蔚来的市盈率达到18.1倍（XPEV的中点），也将推动该公司当前股价上涨至51.50美元，基于上次交易股价42.34美元（6月1日），这意味着22%的上涨潜力。根据我们对蔚来2025财年收入1400亿元人民币（220亿美元）或每股18.60美元的预测，即使是18.1倍的一半也足以使蔚来的股价在2025年突破160美元；我们认为，蔚来的交易倍数是可以实现的，因为届时从运营中获得的现金和技术进步将使其走上电动汽车行业持续长期增长的轨道，预计这种增长将持续到2030年及以后，届时该品牌的4级自动驾驶技术开发完成并商业化。</blockquote></p><p> <b>Business Risks and Challenges</b></p><p><blockquote><b>业务风险及挑战</b></blockquote></p><p> As mentioned in one of my&nbsp;previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s&nbsp;denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.</p><p><blockquote>正如我在之前关于蔚来的一篇文章中提到的，《外国公司问责法》（“HFCA法案”）仍然是公司股价面临的最重大威胁之一。目前，中国的公共会计师事务所不符合SEC要求的PCAOB检查规则，2020年12月HFCA法案的颁布要求这些公共会计师事务所在颁布之日起三年内遵守PCAOB的检查要求；否则，上述事务所审计的所有上市公司都将面临退市风险。蔚来目前由普华永道中天会计师事务所（LLP）进行审计，该事务所被列入PCAOB的拒绝访问名单。如果中国当局和PCAOB不能很快就进行检查达成协议，从纽约证券交易所退市的潜在威胁可能会成为投资者的威慑因素，并最终导致蔚来股价长期下跌。</blockquote></p><p> Another imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.</p><p><blockquote>蔚来业务面临的另一个迫在眉睫的挑战是持续的全球芯片供应短缺。随着汽车行业越来越依赖芯片来管理车辆的每一项功能，汽车制造商的需求和芯片制造商的供应之间的差距越来越大。蔚来也不例外地受到持续的芯片供应危机的影响——2021年3月，蔚来停止了江淮蔚来制造工厂的生产活动五个工作日，以调整生产水平。然而，该公司继续有效地应对这种情况，交付量逐月增加就证明了这一点；在蔚来4月份最新的交付更新新闻稿中，该公司继续满足市场需求，交付了超过7,100辆汽车，同比增长125%。</blockquote></p><p> Competition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.</p><p><blockquote>近年来，电动汽车行业的竞争也愈演愈烈。在过去十年中，由于对气候变化的日益担忧以及传统汽油燃料汽车和电动汽车之间的价格平价，消费者对电动汽车的态度发生了巨大变化。随着第三方原始设备制造商更容易获得汽车电池解决方案，新兴电动汽车制造商的进入门槛也大幅降低；随着初始投资变得比2003年特斯拉更加合理，新进入者现在更热衷于参与不断增长的电动汽车行业的盈利机会，当时电动汽车对许多人来说仍然只是一个概念。除了新进入者之外，福特（纽约证券交易所股票代码：F）等传统汽油燃料汽车制造商也开始将全电池驱动的汽车纳入其车队，以满足不断变化的消费者需求并保持在汽车行业内的竞争力。然而，我们相信蔚来拥有在新的竞争格局中长期保持成功所需的品牌、客户体验、生产战略、人才和商业模式（此处进一步分析）。</blockquote></p><p> <b>Conclusion</b></p><p><blockquote><b>结论</b></blockquote></p><p> NIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.</p><p><blockquote>蔚来已经在中国国内市场建立了强大的品牌影响力，中国国内市场是目前增长最快的电动汽车市场之一，2020年占全球电动汽车销量的40%以上。结合其生产优质电动汽车、建设创新充电基础设施、在自动驾驶技术开发方面取得突破性进展以及执行海外扩张战略的能力，蔚来正在有效缩小与特斯拉在全球电动汽车领域的差距。我们相信，由于汽车行业对电气化和自动化的需求不断增长，未来五年将是电动汽车和科技公司的转型时代，蔚来已经证明在这方面表现出色。其持续成就的价值将很快反映在其股价中，对于那些希望从即将到来的绿色转型和自动化时代中获利的人来说，这使其成为值得选择的股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4432901-nio-stock-reach-100\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4432901-nio-stock-reach-100","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148130971","content_text":"Summary\n\nNIO's share price has soared by more than 816% in the past year, peaking at almost $62 in early February before the growth stock sell-off in early March.\nThe company's innovative approach and overseas expansion strategy, combined with the growing market sentiment on global electrification and automation are expected to boost the company's valuation.\nWe believe NIO's share price will soar beyond $160 by 2025 as global EV sales continue to ramp up with autonomous driving becoming a reality.\n\nPhoto by Drew Angerer/Getty Images News via Getty Images\nDespite it being a local Chinese electric vehicle (“EV”) brand that has only recently started its overseas expansion into Europe, NIO(NYSE:NIO)has already garnered significant international attention amidst avid investors within the EV sector in recent years. It has only been three short years since NIO made its first deliveries in mid-2018, yet many are already wondering whether its share price can reach similar heights as an industry leader, Tesla’s(NASDAQ:TSLA). Albeit a little farfetched given Tesla is currently trading at more than $600 per share with a market cap of more than $600 billion, we do believe NIO has promising potential to break $100 per share before 2025. Even Wall Street Analysts remain optimistic about the company’s future by assigning a price target of close to $60, which represents upward potential of more than 35% based on the last traded share price of $42.34 (June 1st).\nFounded in 2014, NIO has sold and delivered more than 100,000 vehicles in China to date. The company boasts a fleet of five emission-free, fully battery-powered models, ranging from sports cars to luxury sedans and full-size SUVs. In addition to their vehicles, NIO is also known for their significant progress achieved in innovative technology, including state-of-the-art battery solutions, artificial intelligence, and autonomous driving. The company has also recently turned their global expansion plans into reality, with the first overseas NIO store to open in Oslo, Norway in Q3 2021. We believe that reaching a share price of $100 is no longer a question of “if”, but instead, “when”.\nA Trailblazer in Innovative Technology\nSource:ir.nio.com\nNIO has continuously exhibited characteristics of an unsettling innovator. The brand is widely known for their breakthrough in battery swapping technology, “Power Swap”, which provides NIO owners with a fast and convenient solution to concerns over the typically limited travel range of EVs. Similar to a gas station, Power Swap is a battery swapping station that can swap a dead battery out for a fully charged one in under three minutes; a fully charged battery enables a NIO vehicle to travel up to 435 miles, which is more than double of the 181-mile average travel range of electric vehicles currently available on the market. NIO owners have the option to subscribe to the“Battery as a Service” (“BaaS”)package, which is a monthly subscription service that provides NIO owners with flexible options for battery upgrades based on personal needs. The company currently offers a standard 75 kWh battery which enables a travel range of up to 310 miles on a full charge, and an enhanced 100 kWh battery which enables a travel range of up to 435 miles on a full charge; both are available for NIO owners to choose from on a month-to-month basis under BaaS. To date, there are more than 226 battery swapping stations across China, with more on the way following a recent strategic partnership agreement between NIO and Sinopec. NIO’s vehicles are also compatible with local competitor XPeng’s(NYSE:XPEV)1,140 vehicle charging stations available across 164 cities in China, which further enhances its existing network of charging infrastructure in place for NIO owners.\nIn addition to the developed network of infrastructure needed to sustain NIO EVs in the long run, the company has also been working diligently on perfecting their autonomous driving and AI technology in order to remain competitive in the broader EV and tech space. NIO has already been performing testing on its autonomous driving systems since 2016, with their first testing on public roads in Beijing performed in 2018. The company’s commitment to the future of passenger transportation is also proven through their development of EVE, the brand’s concept car for autonomous driving which encompasses a luxurious, comfortable and safe experience powered by NIO’s NOMI AI, the world’s first in-vehicle artificial intelligence.\nTo further enhance their progress in autonomous driving technology, NIO has recently partnered with Mobileye – an Intel-owned(NASDAQ:INTC)company known for developing the “EyeQ chip” currently used by more than 27 car manufacturers for their assisted-driving technologies – to develop and commercialize driving automation that does not require human interaction (i.e. “level 4” autonomous driving). Their collaboration is expected to accelerate NIO’s launch of the “Autonomous Driving as a Service” (“ADaaS”) package, which is a monthly subscription for their autonomous driving technology, “NIO Autonomous Driving” (“NAD”). However, similar to Tesla’s “Full Self-Driving” package, the NAD technology that is expected to launch in 2022 does not yet make NIO vehicles capable of driving without human intervention, but it does catapult NIO to a comparable spot with industry leader Tesla in the race towards level 4 autonomous driving. NIO owners will have the option to subscribe to ADaaS for a monthly subscription fee of RMB 680. With more than 102,000 NIO vehicles on the road today, the new subscription package is expected to generate incremental annual sales of RMB 840 million ($132 million); the additional revenue stream is valued at approximately RMB 10 billion ($1.6 billion) upon the service’s inception, assuming an average vehicle life of 12 years with most existing NIO owners signing up.\nNIO’s continuous developments in autonomous driving technology are expected to benefit the company and its shareholders greatly in the near future. By 2025, the global autonomous cars market will become one of the fastest growing and most highly demanded segments with an estimated value of $1.6 trillion. A 6% share of this market would add a valuation of at least $100 billion to NIO’s existing $67 billion market cap, boosting its per unit share value to more than $100. Considering NIO is currently one of the very few fully electric automakers to have achieved tangible results within the autonomous driving scene, and is actively growing its overseas sales, we are confident that the company is capable of capturing more than 6% of the said market share, and achieve a per unit share price of more than $100 by 2025 with ease. Combined with the global shift in consumer preference towards electrification and automation, we are projecting vehicle sales of approximately 300,000 units by FY 2025, which will yield total revenues of approximately RMB 140 billion ($22 billion).\nSource: Author, with data from our internal forecasts (NIO_-_Forecasted_Financial_Information.pdf).\nGlobal Expansion\nSource: ir.nio.com\nAnother catalyst that will propel NIO’s share price beyond $100 is their ongoing overseas expansion efforts. NIO has been transparent about their intentions to expand globally, especially in the U.S. and Europe, as part of their plans in becoming an industry leader. NIO will be opening its first overseas sales and service centre in Oslo, Norway in September. The brand’s footprint in Norway will further expand in 2022 with four more NIO stores to open in Bergen, Stavanger, Trondheim and Kristiansand. In addition to its direct sales and service centres, NIO will also be introducing a full charging map for Europe, starting with four NIO Power Swap stations in Norway to provide new NIO owners with the convenience and range that the brand builds its success on. NIO’s flagship SUV, the ES8, which currently retails at a starting price of approximately US$67,000, will be the first model introduced in the European market, with the brand’s newest full-size sedan, the ET7, to follow in 2022.\nWith a proven sales track record in China’s luxury EV market, and specs comparable to the globally recognized Tesla, there is no reason for NIO to not succeed overseas. As mentioned in earlier sections, NIO’s vehicles have a driving range of up to 435 miles on a full charge, making it a desirable choice for potential European and American car owners looking for a reliable companion to accompany them on daily commutes to long road trips. The NIO exterior and interior designs are also modern, luxurious, and comparable to those preferred by the European and North American population. Combined with a diverse product line and price range, NIO is equipped to take on the increasing demands for EVs on a global scale.\nNIO’s Historical Performance\nJust a little more than a year ago, NIO’s share price hit an all-time low at under $2 amidst liquidity troubles despite continued vehicle sales. In mid-2020, the municipal government of Hefei, China came to NIO’s rescue with a capital injection of RMB 7 billion (approximately $1 billion). The arrangement resulted in the creation of “NIO China”, which serves as the operating entity that holds all of NIO’s core businesses and assets; NIO currently holds a 90.36% ownership interest in NIO China, while the “Hefei Strategic Investors” consortium holds the remainder 9.64%. The partnership became the company’s lifeline; the additional capital brought forth significant improvements to the company’s operations and vehicle sales, which were reflected in their strong financial performance and upward trend in share price in the summer of 2020. By the end of 2020’s second quarter, NIO’s share price rebounded by almost 20% on average after posting a 171% quarter-over-quarter increase in total revenues. The company’s share price more than tripled in 2020’s third quarter, averaging $15.40, and continued to climb towards its fourth quarter average of $38.70. By the end of the latest quarter ended March 31st, 2021, NIO’s share price averaged $50.97, and peaked at almost $62 in February which is more than 10x its IPO price in 2018. The company holds a market cap of more than $67 billion today, outgrowing its mere $1 billion market cap when it made its debut on the NYSE.\nSource: Author, with data from ir.nio.com\nNIO’s fundamentals have also shown nothing but steady improvements since its share price peaked earlier this year before the growth stock sell-off in late February. Deliveries in 2021 have continued to accelerate exponentially, with first quarter deliveries of more than 20,000 vehicles, representing almost 50% of total deliveries made in 2020. The company continues to exhibit a promising outlook with more than 7,100 vehicles delivered in April, representing an increase of more than 125% year-over-year. NIO has also maintained positive cash flows from operating activities for the first quarter of 2021, thanks to the higher deliveries and effective cost-management measures which have amped up their gross profit margin to 19.5%, comparable with industry leaders like Tesla whose first quarter gross margins were 21%. As aforementioned, we are forecasting vehicle sales of close to 300,000 units by FY 2025, which translates to approximately RMB 140 billion ($22 billion) in total revenues ($18.60 per share). Our vehicle sales forecast for FY 2025 is further corroborated by the recently renewed manufacturing agreement with joint venturer “Jianghuai Automobile Group” (“JAC”), which increases the current annual production capacity of 100,000 units to 240,000 units; the ongoing construction of “NeoPark” in Hefei, China is also expected to add annual production capacity of 1 million units, which further supports our positive outlook on NIO’s continued commitment to grow its business. Considering industry peer Tesla’s current P/S ratio of 16.43x with approximately $42 billion in annual revenues (annualization of $10.389 billion in first quarter revenues), the same proportion applied to NIO’s forecasted FY 2025 total revenues is expected to yield a P/S ratio of 8.7x, resulting in a share price of more than $160.\nNIO vs. LI and XPEV\nSource: Finviz\nWe have also compared NIO’s current P/S ratio to its domestic peers to gauge the timeline in which NIO’s share price will exceed $100. NIO currently trades at a P/S ratio of approximately 14.88x, while domestic industry peers, Li Auto(NASDAQ:LI)and XPEV, currently trade at a P/S ratio of 14.46x and 21.31x, respectively.\nConsidering NIO’s technology, revenues, global footprint, and cash flows are stronger than LI’s and XPEV’s, the former deserves to be traded at a much higher multiple than the latter two. Even if NIO reaches a P/S ratio of 18.1x (mid-point to XPEV's), it will drive the company’s current share price up to $51.50, which represents an upside potential of 22% based on the last traded share price of $42.34 (June 1st). And based on our forecasted revenues for FY 2025 for NIO of RMB 140 billion ($22 billion), or $18.60 per share, even a multiple half of the 18.1x would be more than sufficient to bring NIO's share price beyond $160 by 2025; we believe the trading multiple is achievable for NIO given the cash from operations and technological advancements achieved by then would place them on a trajectory of continued long-term growth within the EV industry, which is expected to continue into 2030 and beyond when the brand's level 4 autonomous driving technology development is complete and commercialized.\nBusiness Risks and Challenges\nAs mentioned in one of my previous articles on NIO, the “Holding Foreign Companies Accountable Act” (“HFCA Act”) remains one of the most significant impending threats to the company’s share price. Currently, public accounting firms in China are non-compliant with PCAOB inspection rules required by the SEC, and the enactment of the HFCA Act in December 2020 requires that these public accounting firms comply with PCAOB inspection requests within three years of the enactment date; otherwise, all public companies audited by said firms will be subject to risks of de-listing. NIO is currently audited by PricewaterhouseCoopers Zhong Tian LLP, which is on PCAOB’s denied-access list. The potential threat of being delisted from the NYSE could be a deterrence factor to investors and ultimately hemorrhage NIO’s share price in the long run if Chinese authorities and the PCAOB cannot reach an agreement on conducting inspections soon.\nAnother imminent challenge to NIO’s business is the ongoing global chip supply shortage. As the automotive industry becomes more dependent on chips to manage every function of their vehicles, the gap between automaker demands and chip manufacturer supplies is widened. NIO was no exception to the impacts of the ongoing chip supply crisis – in March 2021, NIO halted their production activity at the JAC-NIO manufacturing plant for five working days in order to adjust their production levels. However, the company continues to effectively navigate through the situation as proven through their increasing number of deliveries month-over-month; in NIO’s latest delivery update press release for April, the company has continued to keep up with market demand with more than 7,100 vehicle deliveries made, representing a 125% year-over-year growth.\nCompetition within the EV sector has also ramped up in recent years. Consumer attitude towards EVs has changed drastically in the past decade due to rising concerns over climate change met with price parity between traditional petrol-fueled vehicles and EVs. The entry barrier for emerging EV makers has also lowered significantly as car battery solutions become more accessible through third-party OEMs; new entrants are now keener on participating in the profitable opportunity within the growing EV sector as initial investments become more reasonable than it was for Tesla in 2003 when EVs were still just a concept to many. In addition to new entrants, traditional petrol-fueled automakers like Ford(NYSE:F)have also started to incorporate fully battery-powered vehicles into their fleet in order to meet evolving consumer demands and remain competitive within the automotive industry. However, we believe NIO possesses the brand, customer experience, production strategy, talent and business model (further analyzedhere) needed to remain successful within the new competitive landscape in the long run.\nConclusion\nNIO has already established a strong brand presence within the domestic Chinese market, which is currently one of the fastest growing EV markets, representing more than 40% of global EV sales in 2020. Combined with their proven ability to produce quality EVs, construct innovative charging infrastructure, achieve breakthrough progress in the development of autonomous driving technology, and execute their overseas expansion strategy, NIO is effectively narrowing the gap between them and Tesla within the EV sector on a global scale. We are confident that the next five years will be a transformational era for the EV and tech company due to increasing demands for electrification and automation within the automotive industry, which NIO has already proven to excel in. The value of its continued achievements will be reflected in its share price in no time, making them a worthy stock pick for those looking to profit off of the impending age of green transition and automation.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":382323241,"gmtCreate":1613366741783,"gmtModify":1634553839831,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PFE\">$Pfizer(PFE)$</a>anyone with me?&nbsp;","listText":"<a href=\"https://laohu8.com/S/PFE\">$Pfizer(PFE)$</a>anyone with me?&nbsp;","text":"$Pfizer(PFE)$anyone with me?","images":[{"img":"https://static.tigerbbs.com/df37a6739cb9fc9bfaac906e159b106c","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/382323241","isVote":1,"tweetType":1,"viewCount":1474,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3518437135749434","authorId":"3518437135749434","name":"els","avatar":"https://static.tigerbbs.com/46ffce4cf3a3c17473797ed78ccb14b5","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3518437135749434","idStr":"3518437135749434"},"content":"PFE fair price is $42-$44","text":"PFE fair price is $42-$44","html":"PFE fair price is $42-$44"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":842145887,"gmtCreate":1636158515905,"gmtModify":1636158518644,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.","listText":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.","text":"$Gevo Inc(GEVO.US)$ a stock that needed very much patience. Its been working on netzero projects. And has a billion worth of contracts signed and clear interest from business. Although GEVO profitability is still quite questionable, but it still seems to be a promising long-term investment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/842145887","isVote":1,"tweetType":1,"viewCount":5499,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3479274729583717","authorId":"3479274729583717","name":"richegg","avatar":"https://static.laohu8.com/picture62","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3479274729583717","idStr":"3479274729583717"},"content":"Arabic countries look for green alternatives too, fossils will have end. would it be surprising if Aramco buy out gevo? their 2020 net income is ~$50billion, so buying gevo for $10 billion is snack for them. hold it!!","text":"Arabic countries look for green alternatives too, fossils will have end. would it be surprising if Aramco buy out gevo? their 2020 net income is ~$50billion, so buying gevo for $10 billion is snack for them. hold it!!","html":"Arabic countries look for green alternatives too, fossils will have end. would it be surprising if Aramco buy out gevo? their 2020 net income is ~$50billion, so buying gevo for $10 billion is snack for them. hold it!!"},{"author":{"id":"9000000000000362","authorId":"9000000000000362","name":"VincentHughes","avatar":"https://static.tigerbbs.com/35ff63f0788dbb73e52433fbc3b24649","crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"9000000000000362","idStr":"9000000000000362"},"content":"great pleasure to see the shorts selling large amounts and that they cannot lower it. Could it be that on one of these days they will have to cover 10? good news came up continuely, waiting to short squeeze🤑🤑🤑","text":"great pleasure to see the shorts selling large amounts and that they cannot lower it. Could it be that on one of these days they will have to cover 10? good news came up continuely, waiting to short squeeze🤑🤑🤑","html":"great pleasure to see the shorts selling large amounts and that they cannot lower it. Could it be that on one of these days they will have to cover 10? good news came up continuely, waiting to short squeeze🤑🤑🤑"}],"imageCount":0,"langContent":"CN","totalScore":0},{"id":162875697,"gmtCreate":1624059384319,"gmtModify":1634023510579,"author":{"id":"3574669353038503","authorId":"3574669353038503","name":"reeve","avatar":"https://static.tigerbbs.com/1fcc09fdff9be60b7f8c74b41eab8837","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574669353038503","idStr":"3574669353038503"},"themes":[],"htmlText":"Yes! I'm still waiting to enter the market after some profit taking 😅","listText":"Yes! I'm still waiting to enter the market after some profit taking 😅","text":"Yes! I'm still waiting to enter the market after some profit taking 😅","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/162875697","repostId":"1175119628","repostType":4,"isVote":1,"tweetType":1,"viewCount":570,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}