Jonk的个人主页 - 老虎社区

Jonk

Jonk

暂无个人介绍

IP属地：未知

99关注

6粉丝

0主题

0勋章

2021-05-06

Comment

抱歉，原内容已删除

2021-05-05

GME of crypto

Why is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币的价格为何飙升？2021 年加密货币飙升 11,000%</blockquote>

2021-05-03

Buy buy buy

2021-05-02

$90 eoy

2021-05-01

Moon eoy

2021-04-30

Apple rich

抱歉，原内容已删除

2021-04-27

Cbdc the next big thing

抱歉，原内容已删除

2021-04-26

$Marathon Digital Holdings Inc(MARA)$holding, 2x by end of year

2021-04-24

Good

抱歉，原内容已删除

2021-04-22

Sell sell sell

American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>

2021-04-21

Hodl

抱歉，原内容已删除

2021-04-21

Fk hedgies

抱歉，原内容已删除

2021-04-18

Moved nothing

$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>

2021-04-17

Buy, it's gonna bounce back. Btc all time high while mara dipping, ridiculous

2021-04-17

My largest position and still holding strong, hopefully Saphyr will proof to the world it is the superior tech

抱歉，原内容已删除

2021-04-16

My biggest position and it's back at my entry price..

Bionano Genomics fell about 10% in Friday morning trading<blockquote>Bionano Genomics 周五早盘交易中下跌约 10%</blockquote>

2021-04-15

Moon tmr

抱歉，原内容已删除

2021-04-15

Undervalued

2021-04-13

Msft is the future

抱歉，原内容已删除

2021-04-10

Buy now!!

去老虎APP查看更多动态

{"i18n":{"language":"zh_CN"},"userPageInfo":{"id":"3574905837621452","uuid":"3574905837621452","gmtCreate":1611811815355,"gmtModify":1615300769061,"name":"Jonk","pinyin":"jonk","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":6,"headSize":99,"tweetSize":78,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":3,"name":"书生虎","nameTw":"書生虎","represent":"努力向上","factor":"发布10条非转发主帖,其中5条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[{"badgeId":"e50ce593bb40487ebfb542ca54f6a561-4","templateUuid":"e50ce593bb40487ebfb542ca54f6a561","name":"明星虎友","description":"加入老虎社区2000天","bigImgUrl":"https://static.tigerbbs.com/dddf24b906c7011de2617d4fb3f76987","smallImgUrl":"https://static.tigerbbs.com/53d58ad32c97254c6f74db8b97e6ec49","grayImgUrl":"https://static.tigerbbs.com/6304700d92ad91c7a33e2e92ec32ecc1","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.07.22","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"228c86a078844d74991fff2b7ab2428d-1","templateUuid":"228c86a078844d74991fff2b7ab2428d","name":"投资经理虎","description":"证券账户累计交易金额达到10万美元","bigImgUrl":"https://static.tigerbbs.com/c8dfc27c1ee0e25db1c93e9d0b641101","smallImgUrl":"https://static.tigerbbs.com/f43908c142f8a33c78f5bdf0e2897488","grayImgUrl":"https://static.tigerbbs.com/82165ff19cb8a786e8919f92acee5213","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2026.05.16","exceedPercentage":"60.61%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"976c19eed35f4cd78f17501c2e99ef37-1","templateUuid":"976c19eed35f4cd78f17501c2e99ef37","name":"博闻投资者","description":"累计交易超过10只正股","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.02.06","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"35ec162348d5460f88c959321e554969-3","templateUuid":"35ec162348d5460f88c959321e554969","name":"传说交易员","description":"证券或期货账户累计交易次数达到300次","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2025.01.02","exceedPercentage":"93.32%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0},{"badgeId":"518b5610c3e8410da5cfad115e4b0f5a-1","templateUuid":"518b5610c3e8410da5cfad115e4b0f5a","name":"实盘交易者","description":"完成一笔实盘交易","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLinkType":null,"redirectLink":null,"redirectLinkValidityFrom":null,"redirectLinkValidityTo":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100,"isScarce":0,"effectConfig":null,"effectEnabled":0,"plateImgUrl":null,"plateColors":null,"validityTo":null,"validityToTimestamp":null,"wearingSort":0}],"userBadgeCount":5,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":12,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":105890719,"gmtCreate":1620285629331,"gmtModify":1634206372946,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/105890719","repostId":"1164810200","repostType":4,"isVote":1,"tweetType":1,"viewCount":3822,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102234969,"gmtCreate":1620216612151,"gmtModify":1634206934948,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"GME of crypto","listText":"GME of crypto","text":"GME of crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/102234969","repostId":"1115203133","repostType":4,"repost":{"id":"1115203133","kind":"news","pubTimestamp":1620178775,"share":"https://www.laohunote.com/m/news/1115203133?lang=zh_CN&edition=full","pubTime":"2021-05-05 09:39","market":"us","language":"en","title":"Why is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币的价格为何飙升？2021 年加密货币飙升 11,000%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115203133","media":"Market Wacth","summary":"Every dog has its day…but a whole year?Indeed, dogecoin, the meme cryptocurrency linked to an image ","content":"<p>Every dog has its day…but a whole year?</p><p><blockquote>每只狗都有它的一天…但是一整年呢？</blockquote></p><p>Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.</p><p><blockquote>事实上，狗狗币（dogecoin）是一种与柴犬狗图像相关的迷因加密货币，它正在享受近年来加密货币最好的一年之一，今年迄今为止的涨幅超过11,000%，并跻身今年最有价值的十大数字资产之列。</blockquote></p><p>At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.</p><p><blockquote>根据 CoinDesk 的数据，在上次检查时，dogecoinDOGEUSD,+8.26% 的易手价格为 54 美分，在过去 24 小时内上涨超过 23%，2021 年迄今为止上涨了约 11,210%。</blockquote></p><p>That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.</p><p><blockquote>这种抛物线般的上涨吸引了掌声和担忧，因为其支持者的目标是将模仿硬币的价值推至接近 1 美元，批评者警告说，这种资产具有资产泡沫的所有特征，注定会破裂并留下大屠杀。</blockquote></p><p>Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”<img src=\"https://static.tigerbbs.com/7c7201d3eb982c0d5d636bf8ff4a1ca7\" tg-width=\"505\" tg-height=\"367\" referrerpolicy=\"no-referrer\">So why is dogecoin, pronounced “dōj-coin,”&nbsp;on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:</p><p><blockquote>只是，不要把这句话告诉那些为加密货币欢呼的人，否则可能会听到这句常见的话： “享受贫穷吧”。那么，为什么发音为 “dōj-coin ”的狗狗币会遭受如此巨大的冲击，甚至超过了被认为是数字资产和区块链时代更严肃的代表的加密货币呢？以下是几个原因：</blockquote></p><p>Its biggest booster set to guest host ‘SNL’</p><p><blockquote>其最大的助推器将是嘉宾主持《周六夜现场》</blockquote></p><p>Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn&nbsp;cheers and jeers&nbsp;for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.</p><p><blockquote>特斯拉公司和 SpaceX 的首席执行官埃隆-马斯克（Elon Musk）将于本周末主持《周六夜现场》（Saturday Night Live），该节目已经为这位技术专家赢得了欢呼和嘲笑。他已经成为今年狗狗币最突出、最直言不讳的冠军之一，一些人猜测他可以做些什么来推广doge。</blockquote></p><p>Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.</p><p><blockquote>在《周六夜现场》演出之前，马斯克在最近的一条推特上确实称自己为 “狗爹”。</blockquote></p><p><img src=\"https://static.tigerbbs.com/54a1a1602240507ad985c5efcb2571f5\" tg-width=\"501\" tg-height=\"177\" referrerpolicy=\"no-referrer\">Brokerages trade dogecoin</p><p><blockquote>经纪商交易狗狗币</blockquote></p><p>A number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.</p><p><blockquote>一些新的场所已经宣布，他们将在最近几天和几周内在他们的交易所交易狗狗币。</blockquote></p><p>Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform&nbsp;eToro also made dogecoin&nbsp;available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.</p><p><blockquote>加密货币交易所 Geminion 周二宣布支持该硬币的交易和托管。交易平台 eToro 也允许狗狗币在其平台上进行交易。webull 于 4 月 20 日允许其用户购买狗狗币。</blockquote></p><p>FOMO</p><p><blockquote>福莫</blockquote></p><p>Fear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.</p><p><blockquote>据说，对错过的恐惧也是激增的背后原因。一些加密货币参与者推测，dogecoin 的上涨得到了零售交易者的支持，他们认为这种模仿币比 bitcoinBTCUSD（-0.16%）更容易获得投资（或交易），bitcoinBTCUSD 在最后一次检查时以 54,000 美元易手CoinDesk。</blockquote></p><p>“Dogecoin&nbsp;is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.</p><p><blockquote>“Oanda 高级市场分析师爱德华-莫亚（Edward Moya）在每日报告中写道：”狗狗币之所以飙升，是因为许多加密货币交易者不想错过埃隆-马斯克（Elon Musk）主持《周六夜现场》（Saturday Night Live）节目所带来的任何热点。</blockquote></p><p>Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&amp;P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.</p><p><blockquote>传统资产的收益似乎也更加平淡无奇。相比之下，黄金期货GC00,0.17%今年迄今已下跌6%，道琼斯工业平均指数JIA,+0.06%和标普500指数SPX,-0.67%在2021年至少上涨10%，而纳斯达克综合指数COMP,-1.88%涨幅超过5%。</blockquote></p><p>Accessibility</p><p><blockquote>可访问性</blockquote></p><p>Konstantin Boyko-Romanovsky, CEO of&nbsp;Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.</p><p><blockquote>Allnodes 首席执行官康斯坦丁·博伊科-罗曼诺夫斯基 (Konstantin Boyko-Romanovsky) 通过电子邮件表示，他认为马斯克和亿万富翁马克·库班 (Mark Cuban) 的支持是狗狗币牛市论点的核心，但他也表示，有些人可能认为与比特币相比，这种加密货币更容易获得，最近在降温前达到了 6 万美元以上的峰值。</blockquote></p><p>“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.</p><p><blockquote>“它对普通大众更有吸引力，因为它的成本非常低。一个比特币 6 万美元可能会让一些人望而生畏。在某种程度上，doge 更像是美元，但却是数字形式，”他写道。</blockquote></p><p>Bubbles &amp; manias</p><p><blockquote>泡沫与狂热</blockquote></p><p>Moya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”</p><p><blockquote>莫亚写道，狗狗币泡沫 “现在应该已经破裂了，但机构兴趣正试图利用这一势头，这可能会支撑狗狗币再次走高”。</blockquote></p><p>Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.</p><p><blockquote>许多怀疑论者警告说，如果狗狗币不谨慎地涉足该资产，可能会让许多新手投资者蒙受损失。</blockquote></p><p></p>","source":"lsy1604288433698","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 is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币的价格为何飙升？2021 年加密货币飙升 11,000%</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 is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币的价格为何飙升？2021 年加密货币飙升 11,000%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Market Wacth</strong><span class=\"h-time small\">2021-05-05 09:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Every dog has its day…but a whole year?</p><p><blockquote>每只狗都有它的一天…但是一整年呢？</blockquote></p><p>Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.</p><p><blockquote>事实上，狗狗币（dogecoin）是一种与柴犬狗图像相关的迷因加密货币，它正在享受近年来加密货币最好的一年之一，今年迄今为止的涨幅超过11,000%，并跻身今年最有价值的十大数字资产之列。</blockquote></p><p>At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.</p><p><blockquote>根据 CoinDesk 的数据，在上次检查时，dogecoinDOGEUSD,+8.26% 的易手价格为 54 美分，在过去 24 小时内上涨超过 23%，2021 年迄今为止上涨了约 11,210%。</blockquote></p><p>That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.</p><p><blockquote>这种抛物线般的上涨吸引了掌声和担忧，因为其支持者的目标是将模仿硬币的价值推至接近 1 美元，批评者警告说，这种资产具有资产泡沫的所有特征，注定会破裂并留下大屠杀。</blockquote></p><p>Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”<img src=\"https://static.tigerbbs.com/7c7201d3eb982c0d5d636bf8ff4a1ca7\" tg-width=\"505\" tg-height=\"367\" referrerpolicy=\"no-referrer\">So why is dogecoin, pronounced “dōj-coin,”&nbsp;on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:</p><p><blockquote>只是，不要把这句话告诉那些为加密货币欢呼的人，否则可能会听到这句常见的话： “享受贫穷吧”。那么，为什么发音为 “dōj-coin ”的狗狗币会遭受如此巨大的冲击，甚至超过了被认为是数字资产和区块链时代更严肃的代表的加密货币呢？以下是几个原因：</blockquote></p><p>Its biggest booster set to guest host ‘SNL’</p><p><blockquote>其最大的助推器将是嘉宾主持《周六夜现场》</blockquote></p><p>Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn&nbsp;cheers and jeers&nbsp;for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.</p><p><blockquote>特斯拉公司和 SpaceX 的首席执行官埃隆-马斯克（Elon Musk）将于本周末主持《周六夜现场》（Saturday Night Live），该节目已经为这位技术专家赢得了欢呼和嘲笑。他已经成为今年狗狗币最突出、最直言不讳的冠军之一，一些人猜测他可以做些什么来推广doge。</blockquote></p><p>Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.</p><p><blockquote>在《周六夜现场》演出之前，马斯克在最近的一条推特上确实称自己为 “狗爹”。</blockquote></p><p><img src=\"https://static.tigerbbs.com/54a1a1602240507ad985c5efcb2571f5\" tg-width=\"501\" tg-height=\"177\" referrerpolicy=\"no-referrer\">Brokerages trade dogecoin</p><p><blockquote>经纪商交易狗狗币</blockquote></p><p>A number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.</p><p><blockquote>一些新的场所已经宣布，他们将在最近几天和几周内在他们的交易所交易狗狗币。</blockquote></p><p>Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform&nbsp;eToro also made dogecoin&nbsp;available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.</p><p><blockquote>加密货币交易所 Geminion 周二宣布支持该硬币的交易和托管。交易平台 eToro 也允许狗狗币在其平台上进行交易。webull 于 4 月 20 日允许其用户购买狗狗币。</blockquote></p><p>FOMO</p><p><blockquote>福莫</blockquote></p><p>Fear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.</p><p><blockquote>据说，对错过的恐惧也是激增的背后原因。一些加密货币参与者推测，dogecoin 的上涨得到了零售交易者的支持，他们认为这种模仿币比 bitcoinBTCUSD（-0.16%）更容易获得投资（或交易），bitcoinBTCUSD 在最后一次检查时以 54,000 美元易手CoinDesk。</blockquote></p><p>“Dogecoin&nbsp;is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.</p><p><blockquote>“Oanda 高级市场分析师爱德华-莫亚（Edward Moya）在每日报告中写道：”狗狗币之所以飙升，是因为许多加密货币交易者不想错过埃隆-马斯克（Elon Musk）主持《周六夜现场》（Saturday Night Live）节目所带来的任何热点。</blockquote></p><p>Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&amp;P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.</p><p><blockquote>传统资产的收益似乎也更加平淡无奇。相比之下，黄金期货GC00,0.17%今年迄今已下跌6%，道琼斯工业平均指数JIA,+0.06%和标普500指数SPX,-0.67%在2021年至少上涨10%，而纳斯达克综合指数COMP,-1.88%涨幅超过5%。</blockquote></p><p>Accessibility</p><p><blockquote>可访问性</blockquote></p><p>Konstantin Boyko-Romanovsky, CEO of&nbsp;Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.</p><p><blockquote>Allnodes 首席执行官康斯坦丁·博伊科-罗曼诺夫斯基 (Konstantin Boyko-Romanovsky) 通过电子邮件表示，他认为马斯克和亿万富翁马克·库班 (Mark Cuban) 的支持是狗狗币牛市论点的核心，但他也表示，有些人可能认为与比特币相比，这种加密货币更容易获得，最近在降温前达到了 6 万美元以上的峰值。</blockquote></p><p>“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.</p><p><blockquote>“它对普通大众更有吸引力，因为它的成本非常低。一个比特币 6 万美元可能会让一些人望而生畏。在某种程度上，doge 更像是美元，但却是数字形式，”他写道。</blockquote></p><p>Bubbles &amp; manias</p><p><blockquote>泡沫与狂热</blockquote></p><p>Moya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”</p><p><blockquote>莫亚写道，狗狗币泡沫 “现在应该已经破裂了，但机构兴趣正试图利用这一势头，这可能会支撑狗狗币再次走高”。</blockquote></p><p>Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.</p><p><blockquote>许多怀疑论者警告说，如果狗狗币不谨慎地涉足该资产，可能会让许多新手投资者蒙受损失。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-is-dogecoins-price-spiking-the-crypto-has-surged-11-000-in-2021-11620151738?mod=home-page\">Market Wacth</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/why-is-dogecoins-price-spiking-the-crypto-has-surged-11-000-in-2021-11620151738?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115203133","content_text":"Every dog has its day…but a whole year?Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”So why is dogecoin, pronounced “dōj-coin,” on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:Its biggest booster set to guest host ‘SNL’Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn cheers and jeers for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.Brokerages trade dogecoinA number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform eToro also made dogecoin available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.FOMOFear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.“Dogecoin is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.AccessibilityKonstantin Boyko-Romanovsky, CEO of Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.Bubbles & maniasMoya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108825416,"gmtCreate":1620012350935,"gmtModify":1634208526577,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Buy buy buy","listText":"Buy buy buy","text":"Buy buy buy","images":[{"img":"https://static.tigerbbs.com/67b16c9bbd65a6b7ec052d0f0f34a757","width":"1080","height":"2117"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/108825416","isVote":1,"tweetType":1,"viewCount":3259,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":101506604,"gmtCreate":1619920268008,"gmtModify":1634209131810,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"$90 eoy","listText":"$90 eoy","text":"$90 eoy","images":[{"img":"https://static.tigerbbs.com/c13edd33ac139ec57c402058287c8ee4","width":"1080","height":"2117"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/101506604","isVote":1,"tweetType":1,"viewCount":3937,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":101888184,"gmtCreate":1619876926548,"gmtModify":1634209347892,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Moon eoy","listText":"Moon eoy","text":"Moon eoy","images":[{"img":"https://static.tigerbbs.com/67b16c9bbd65a6b7ec052d0f0f34a757","width":"1080","height":"2117"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/101888184","isVote":1,"tweetType":1,"viewCount":2267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":103671314,"gmtCreate":1619782423038,"gmtModify":1634209982581,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Apple rich&nbsp;","listText":"Apple rich&nbsp;","text":"Apple rich","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/103671314","repostId":"1180690637","repostType":4,"isVote":1,"tweetType":1,"viewCount":2099,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377399468,"gmtCreate":1619494213654,"gmtModify":1634212292732,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Cbdc the next big thing","listText":"Cbdc the next big thing","text":"Cbdc the next big thing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/377399468","repostId":"1138232748","repostType":4,"isVote":1,"tweetType":1,"viewCount":2225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374335962,"gmtCreate":1619417309856,"gmtModify":1631885332134,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/MARA\">$Marathon Digital Holdings Inc(MARA)$</a>holding, 2x by end of year","listText":"<a href=\"https://laohu8.com/S/MARA\">$Marathon Digital Holdings Inc(MARA)$</a>holding, 2x by end of year","text":"$Marathon Digital Holdings Inc(MARA)$holding, 2x by end of year","images":[{"img":"https://static.tigerbbs.com/d6a3adb0b83ddba2c82ed5f5d3e1e663","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/374335962","isVote":1,"tweetType":1,"viewCount":2022,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":375027121,"gmtCreate":1619263170963,"gmtModify":1634287378473,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/375027121","repostId":"1166519043","repostType":4,"isVote":1,"tweetType":1,"viewCount":2480,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376971819,"gmtCreate":1619085058831,"gmtModify":1634288685551,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Sell sell sell","listText":"Sell sell sell","text":"Sell sell sell","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/376971819","repostId":"2129808947","repostType":4,"repost":{"id":"2129808947","kind":"news","pubTimestamp":1619079273,"share":"https://www.laohunote.com/m/news/2129808947?lang=zh_CN&edition=full","pubTime":"2021-04-22 16:14","market":"us","language":"en","title":"American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2129808947","media":"Investopedia","summary":"Key Takeaways\n\nAnalysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.\nPassenger load fac","content":"<p><h3>Key Takeaways</h3> <ul>  <li>Analysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.</li>  <li>Passenger load factor is expected to fall YOY.</li>  <li>Revenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.</li> </ul> American Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.</p><p><blockquote><h3>主要要点</h3><ul><li>分析师预计 2020 财年第一季度调整后每股收益为 -4.26 美元，而 -2.65 美元。</li><li>载客率预计同比下降。</li><li>由于 COVID-19 大流行，预计收入将连续第五个季度下降。</li></ul>由于 COVID-19 大流行促使许多潜在旅客呆在家里，美国航空集团公司 (AAL) 去年的乘客需求急剧下降。该公司2020年的客运量不到去年同期2.15亿人次的一半。除了这些财务压力之外，美国航空公司还面临美国的反垄断调查。司法部与捷蓝航空公司（JBLU）建立了合作关系，因为担心该协议可能会抬高乘客票价。</blockquote></p><p> Investors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.</p><p><blockquote>当美国航空公司在 4 月 22 日开盘前公布 2021 财年第一季度收益时，投资者将关注该公司如何应对这些挑战。分析师预测，随着收入连续第五个季度下降，调整后每股亏损 (EPS) 将同比大幅扩大。</blockquote></p><p> A key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.</p><p><blockquote>投资者在收益报告中可能关注的一个关键指标是美国航空公司的载客率，这是衡量航空公司效率的指标，反映了美国航空公司座位容量的使用百分比。分析师预计载客率将同比下降，并略低于最新报告的季度（即 2020 财年第四季度）。</blockquote></p><p> American Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&amp;P 500's total return of 46.5%.</p><p><blockquote>美国航空公司的股票在过去一年中经历了多个时期的剧烈波动。2020年6月，股价领先市场飙升，但下个月却落后于市场。该股基本上横盘整理，直到 2020 年 10 月下旬开始长期上涨。美国股票在 12 月至 3 月中旬期间表现优于市场，尽管最近几周有所回落。截至4月20日，美国航空提供的1年追踪总回报率为84.2%，远远领先于标准普尔500指数46.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a772a4903ebcc543efb55c065efb3928\" tg-width=\"2244\" tg-height=\"1210\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <h2>American Airlines Earning History </h2> American Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.</p><p><blockquote><h2>美国航空盈利历史</h2>近几个月来，美国航空公司的股价因其近期的盈利历史以及投资者对新 COVID-19 疫苗和新兴经济复苏的乐观情绪而受到提振。尽管该公司在 2020 财年连续四个季度公布调整后每股亏损，但美国航空的亏损在第三季度和第四季度大幅收窄。美国航空 10 月份发布第三季度收益报告后，该股最初下跌，然后在接下来的五个月内（截至 2021 年 3 月底）上涨了一倍多。但现在，分析师预测美国的盈利复苏将逆转。他们认为 2021 财年第一季度调整后每股亏损同比扩大，并且相对于 2020 财年第四季度也环比扩大。</blockquote></p><p> American Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.</p><p><blockquote>美国航空也连续四个季度收入同比下降，这也是几年来的首次。2020 财年第一季度收入同比下降 19.6%，反映了疫情对该季度后半段的影响。2020 财年第二季度收入暴跌 86.4%，第三季度下降 73.4%，第四季度下降 64.4%。分析师预计 2021 财年第一季度的降幅将较小，但仍同比下降 52.2%。</blockquote></p><p> <table>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <thead>   <tr>    <th colspan=\"4\">American Airlines Key Stats</th>   </tr>  </thead>  <tbody>   <tr>    <td></td>    <td>Estimate for Q1 FY 2021</td>    <td>Q1 FY 2020</td>    <td>Q1 FY 2019</td>   </tr>   <tr>    <td>Adjusted EPS</td>    <td>-$4.26</td>    <td>-$2.65</td>    <td>$0.52</td>   </tr>   <tr>    <td>Revenue (billions)</td>    <td>$4.1</td>    <td>$8.5</td>    <td>$10.6</td>   </tr>   <tr>    <td>Load factor</td>    <td>63.5%</td>    <td>72.7%</td>    <td>82.2%</td>   </tr>  </tbody> </table> <h2>The Key Metric </h2> As mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.</p><p><blockquote><table><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><thead><tr><th colspan=\"4\">美国航空关键统计数据</th></tr></thead><tbody><tr><td></td><td>2021 财年第一季度的预测</td><td>2020财年第一季度</td><td>2019财年第一季度</td></tr><tr><td>调整后每股收益</td><td>-$4.26</td><td>-$2.65</td><td>$0.52</td></tr><tr><td>收入（十亿）</td><td>$4.1</td><td>$8.5</td><td>$10.6</td></tr><tr><td>载荷系数</td><td>63.5%</td><td>72.7%</td><td>82.2%</td></tr></tbody></table><h2>关键指标</h2>如前所述，美国航空投资者也可能会关注该公司的载客率。航空业的这一关键指标是衡量可用座位容量被乘客填满的百分比。较高的载客率表明乘客占用的座位百分比较高。无论机上有多少乘客，航空公司将飞机送入飞行的成本大致固定，因此有动机尽可能多地填满座位，以便更好地分配这些成本。因此，更高的负载系数是更高效率和盈利能力的标志。然而，在过去的一年里，载客率面临着巨大的压力，主要是因为新冠肺炎疫情颠覆了上述逻辑。在疫情期间，从公共卫生的角度来看，更多的飞机被认为更糟糕。随着乘客出行减少和载客率下降，美国航空公司等公司面临盈利危机。</blockquote></p><p></p><p> American Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.</p><p><blockquote>疫情期间，美国航空公司的载客率大幅下降。在2020年之前的三年里，该公司定期报告负载系数在80左右。该指标在 2020 财年第一季度首次开始下降，当时该公司报告的负载系数为 72.7%。这一比例在第二季度降至 42.3% 的低点，然后在下半年有所回升，第四季度达到 64.1%。分析师现在估计，美国在扭转载客率方面的进展将基本停止。他们预计 2021 财年第一季度的载客率将环比小幅下降至 63.5%。这一数字也将比去年同期的 72.7% 大幅下降。</blockquote></p><p></p>","source":"lsy1606203311635","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>American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</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\">\nAmerican Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Investopedia</strong><span class=\"h-time small\">2021-04-22 16:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p><h3>Key Takeaways</h3> <ul>  <li>Analysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.</li>  <li>Passenger load factor is expected to fall YOY.</li>  <li>Revenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.</li> </ul> American Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.</p><p><blockquote><h3>主要要点</h3><ul><li>分析师预计 2020 财年第一季度调整后每股收益为 -4.26 美元，而 -2.65 美元。</li><li>载客率预计同比下降。</li><li>由于 COVID-19 大流行，预计收入将连续第五个季度下降。</li></ul>由于 COVID-19 大流行促使许多潜在旅客呆在家里，美国航空集团公司 (AAL) 去年的乘客需求急剧下降。该公司2020年的客运量不到去年同期2.15亿人次的一半。除了这些财务压力之外，美国航空公司还面临美国的反垄断调查。司法部与捷蓝航空公司（JBLU）建立了合作关系，因为担心该协议可能会抬高乘客票价。</blockquote></p><p> Investors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.</p><p><blockquote>当美国航空公司在 4 月 22 日开盘前公布 2021 财年第一季度收益时，投资者将关注该公司如何应对这些挑战。分析师预测，随着收入连续第五个季度下降，调整后每股亏损 (EPS) 将同比大幅扩大。</blockquote></p><p> A key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.</p><p><blockquote>投资者在收益报告中可能关注的一个关键指标是美国航空公司的载客率，这是衡量航空公司效率的指标，反映了美国航空公司座位容量的使用百分比。分析师预计载客率将同比下降，并略低于最新报告的季度（即 2020 财年第四季度）。</blockquote></p><p> American Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&amp;P 500's total return of 46.5%.</p><p><blockquote>美国航空公司的股票在过去一年中经历了多个时期的剧烈波动。2020年6月，股价领先市场飙升，但下个月却落后于市场。该股基本上横盘整理，直到 2020 年 10 月下旬开始长期上涨。美国股票在 12 月至 3 月中旬期间表现优于市场，尽管最近几周有所回落。截至4月20日，美国航空提供的1年追踪总回报率为84.2%，远远领先于标准普尔500指数46.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a772a4903ebcc543efb55c065efb3928\" tg-width=\"2244\" tg-height=\"1210\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <h2>American Airlines Earning History </h2> American Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.</p><p><blockquote><h2>美国航空盈利历史</h2>近几个月来，美国航空公司的股价因其近期的盈利历史以及投资者对新 COVID-19 疫苗和新兴经济复苏的乐观情绪而受到提振。尽管该公司在 2020 财年连续四个季度公布调整后每股亏损，但美国航空的亏损在第三季度和第四季度大幅收窄。美国航空 10 月份发布第三季度收益报告后，该股最初下跌，然后在接下来的五个月内（截至 2021 年 3 月底）上涨了一倍多。但现在，分析师预测美国的盈利复苏将逆转。他们认为 2021 财年第一季度调整后每股亏损同比扩大，并且相对于 2020 财年第四季度也环比扩大。</blockquote></p><p> American Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.</p><p><blockquote>美国航空也连续四个季度收入同比下降，这也是几年来的首次。2020 财年第一季度收入同比下降 19.6%，反映了疫情对该季度后半段的影响。2020 财年第二季度收入暴跌 86.4%，第三季度下降 73.4%，第四季度下降 64.4%。分析师预计 2021 财年第一季度的降幅将较小，但仍同比下降 52.2%。</blockquote></p><p> <table>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <thead>   <tr>    <th colspan=\"4\">American Airlines Key Stats</th>   </tr>  </thead>  <tbody>   <tr>    <td></td>    <td>Estimate for Q1 FY 2021</td>    <td>Q1 FY 2020</td>    <td>Q1 FY 2019</td>   </tr>   <tr>    <td>Adjusted EPS</td>    <td>-$4.26</td>    <td>-$2.65</td>    <td>$0.52</td>   </tr>   <tr>    <td>Revenue (billions)</td>    <td>$4.1</td>    <td>$8.5</td>    <td>$10.6</td>   </tr>   <tr>    <td>Load factor</td>    <td>63.5%</td>    <td>72.7%</td>    <td>82.2%</td>   </tr>  </tbody> </table> <h2>The Key Metric </h2> As mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.</p><p><blockquote><table><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><thead><tr><th colspan=\"4\">美国航空关键统计数据</th></tr></thead><tbody><tr><td></td><td>2021 财年第一季度的预测</td><td>2020财年第一季度</td><td>2019财年第一季度</td></tr><tr><td>调整后每股收益</td><td>-$4.26</td><td>-$2.65</td><td>$0.52</td></tr><tr><td>收入（十亿）</td><td>$4.1</td><td>$8.5</td><td>$10.6</td></tr><tr><td>载荷系数</td><td>63.5%</td><td>72.7%</td><td>82.2%</td></tr></tbody></table><h2>关键指标</h2>如前所述，美国航空投资者也可能会关注该公司的载客率。航空业的这一关键指标是衡量可用座位容量被乘客填满的百分比。较高的载客率表明乘客占用的座位百分比较高。无论机上有多少乘客，航空公司将飞机送入飞行的成本大致固定，因此有动机尽可能多地填满座位，以便更好地分配这些成本。因此，更高的负载系数是更高效率和盈利能力的标志。然而，在过去的一年里，载客率面临着巨大的压力，主要是因为新冠肺炎疫情颠覆了上述逻辑。在疫情期间，从公共卫生的角度来看，更多的飞机被认为更糟糕。随着乘客出行减少和载客率下降，美国航空公司等公司面临盈利危机。</blockquote></p><p></p><p> American Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.</p><p><blockquote>疫情期间，美国航空公司的载客率大幅下降。在2020年之前的三年里，该公司定期报告负载系数在80左右。该指标在 2020 财年第一季度首次开始下降，当时该公司报告的负载系数为 72.7%。这一比例在第二季度降至 42.3% 的低点，然后在下半年有所回升，第四季度达到 64.1%。分析师现在估计，美国在扭转载客率方面的进展将基本停止。他们预计 2021 财年第一季度的载客率将环比小幅下降至 63.5%。这一数字也将比去年同期的 72.7% 大幅下降。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/american-airlines-q1-2021-earnings-preview-5179859?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo\">Investopedia</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":{"AAL":"美国航空"},"source_url":"https://www.investopedia.com/american-airlines-q1-2021-earnings-preview-5179859?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129808947","content_text":"Key Takeaways\n\nAnalysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.\nPassenger load factor is expected to fall YOY.\nRevenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.\n\nAmerican Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.\nInvestors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.\nA key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.\nAmerican Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&P 500's total return of 46.5%.\nSource: TradingView.\nAmerican Airlines Earning History \nAmerican Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.\nAmerican Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.\n\n\n\n\n\n\n\nAmerican Airlines Key Stats\n\n\n\n\n\nEstimate for Q1 FY 2021\nQ1 FY 2020\nQ1 FY 2019\n\n\nAdjusted EPS\n-$4.26\n-$2.65\n$0.52\n\n\nRevenue (billions)\n$4.1\n$8.5\n$10.6\n\n\nLoad factor\n63.5%\n72.7%\n82.2%\n\n\n\nThe Key Metric \nAs mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.\nAmerican Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.","news_type":1,"symbols_score_info":{"AAL":0.9}},"isVote":1,"tweetType":1,"viewCount":2958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371555693,"gmtCreate":1618962602112,"gmtModify":1634289633751,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Hodl","listText":"Hodl","text":"Hodl","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/371555693","repostId":"1143621870","repostType":4,"isVote":1,"tweetType":1,"viewCount":943,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371552936,"gmtCreate":1618962555725,"gmtModify":1634289634584,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Fk hedgies","listText":"Fk hedgies","text":"Fk hedgies","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/371552936","repostId":"2129825679","repostType":4,"isVote":1,"tweetType":1,"viewCount":852,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379377794,"gmtCreate":1618701175618,"gmtModify":1634291413454,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Moved nothing","listText":"Moved nothing","text":"Moved nothing","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/379377794","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohunote.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</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>$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</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\">\n$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</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":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,"SPY":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1186,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370548173,"gmtCreate":1618615758292,"gmtModify":1634291803545,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Buy, it's gonna bounce back. Btc all time high while mara dipping, ridiculous","listText":"Buy, it's gonna bounce back. Btc all time high while mara dipping, ridiculous","text":"Buy, it's gonna bounce back. Btc all time high while mara dipping, ridiculous","images":[{"img":"https://static.tigerbbs.com/537f2fba309d731f4c4b32a46120ea07","width":"1080","height":"2117"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/370548173","isVote":1,"tweetType":1,"viewCount":1329,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":370549450,"gmtCreate":1618615437370,"gmtModify":1634291805963,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"My largest position and still holding strong, hopefully Saphyr will proof to the world it is the superior tech","listText":"My largest position and still holding strong, hopefully Saphyr will proof to the world it is the superior tech","text":"My largest position and still holding strong, hopefully Saphyr will proof to the world it is the superior tech","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/370549450","repostId":"2127485530","repostType":4,"isVote":1,"tweetType":1,"viewCount":689,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370233118,"gmtCreate":1618585038134,"gmtModify":1634291906457,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"My biggest position and it's back at my entry price..","listText":"My biggest position and it's back at my entry price..","text":"My biggest position and it's back at my entry price..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/370233118","repostId":"1151923129","repostType":4,"repost":{"id":"1151923129","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":1618581789,"share":"https://www.laohunote.com/m/news/1151923129?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:03","market":"us","language":"en","title":"Bionano Genomics fell about 10% in Friday morning  trading<blockquote>Bionano Genomics 周五早盘交易中下跌约 10%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1151923129","media":"Tiger Newspress","summary":"(April 16) Bionano Genomics fell about 10% in Friday morning trading.\nThere's a genomics revolution ","content":"<p>(April 16)&nbsp;Bionano Genomics&nbsp;fell&nbsp;about&nbsp;10%&nbsp;in Friday morning trading.</p><p><blockquote>（4月16日）Bionano Genomics在周五早盘交易中下跌约10%。</blockquote></p><p> There's a genomics revolution underway right now. Surprisingly, though, only one pure-play genomics stock is in the top 100 most popular list on Robinhood. That lone ranger is<b>Bionano Genomics</b>(NASDAQ:BNGO). The stock has been a major winner so far this year, with Bionano's shares vaulting 108% higher.</p><p><blockquote>基因组学革命正在进行。但令人惊讶的是，只有一只纯基因组学股票进入了 Robinhood 最受欢迎的 100 只名单。那个独行侠<b>生物纳米基因组学</b>（纳斯达克股票代码：BNGO）今年到目前为止，该股一直是主要赢家，Bionano 的股价飙升了 108%。</blockquote></p><p> Bionano had generated even bigger gains earlier in 2021. By mid-February, the stock had more than quintupled year to date. However, a shift away from high-flying growth stocks caused Bionano's share price to tumble over the last couple of months.</p><p><blockquote>Bionano 在 2021 年初取得了更大的收益。截至二月中旬，该股今年迄今已上涨五倍多。然而，远离高速增长型股票导致 Bionano 的股价在过去几个月暴跌。</blockquote></p><p> Many investors remain enthusiastic about the company's prospects. Bionanobeat analysts' Q4 revenue expectations. It expects to soon win accreditation in select European markets for Saphyr-based laboratory-developed tests for acute lymphocytic leukemia (ALL) and facioscapulohumeral muscular dystrophy (FSHD). The genomics testing company also thinks that it will have 150 Saphyr gene-sequencing systems installed by the end of this year, which would represent a 50% increase year over year.</p><p><blockquote>许多投资者对该公司的前景仍然充满热情。Bionanobeat 分析师第四季度收入预期。它预计很快将在选定的欧洲市场获得基于蓝宝石的实验室开发的急性淋巴细胞白血病（ALL）和面肩肱肌营养不良症（FSHD）测试的认证。这家基因组学测试公司还认为，到今年年底，它将安装150个Saphyr基因测序系统，这将代表着同比增长50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4d6d3a8298b2b720b7b4ddcf26507750\" tg-width=\"708\" tg-height=\"500\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bionano Genomics fell about 10% in Friday morning  trading<blockquote>Bionano Genomics 周五早盘交易中下跌约 10%</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\">\nBionano Genomics fell about 10% in Friday morning  trading<blockquote>Bionano Genomics 周五早盘交易中下跌约 10%</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\">2021-04-16 22:03</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>(April 16)&nbsp;Bionano Genomics&nbsp;fell&nbsp;about&nbsp;10%&nbsp;in Friday morning trading.</p><p><blockquote>（4月16日）Bionano Genomics在周五早盘交易中下跌约10%。</blockquote></p><p> There's a genomics revolution underway right now. Surprisingly, though, only one pure-play genomics stock is in the top 100 most popular list on Robinhood. That lone ranger is<b>Bionano Genomics</b>(NASDAQ:BNGO). The stock has been a major winner so far this year, with Bionano's shares vaulting 108% higher.</p><p><blockquote>基因组学革命正在进行。但令人惊讶的是，只有一只纯基因组学股票进入了 Robinhood 最受欢迎的 100 只名单。那个独行侠<b>生物纳米基因组学</b>（纳斯达克股票代码：BNGO）今年到目前为止，该股一直是主要赢家，Bionano 的股价飙升了 108%。</blockquote></p><p> Bionano had generated even bigger gains earlier in 2021. By mid-February, the stock had more than quintupled year to date. However, a shift away from high-flying growth stocks caused Bionano's share price to tumble over the last couple of months.</p><p><blockquote>Bionano 在 2021 年初取得了更大的收益。截至二月中旬，该股今年迄今已上涨五倍多。然而，远离高速增长型股票导致 Bionano 的股价在过去几个月暴跌。</blockquote></p><p> Many investors remain enthusiastic about the company's prospects. Bionanobeat analysts' Q4 revenue expectations. It expects to soon win accreditation in select European markets for Saphyr-based laboratory-developed tests for acute lymphocytic leukemia (ALL) and facioscapulohumeral muscular dystrophy (FSHD). The genomics testing company also thinks that it will have 150 Saphyr gene-sequencing systems installed by the end of this year, which would represent a 50% increase year over year.</p><p><blockquote>许多投资者对该公司的前景仍然充满热情。Bionanobeat 分析师第四季度收入预期。它预计很快将在选定的欧洲市场获得基于蓝宝石的实验室开发的急性淋巴细胞白血病（ALL）和面肩肱肌营养不良症（FSHD）测试的认证。这家基因组学测试公司还认为，到今年年底，它将安装150个Saphyr基因测序系统，这将代表着同比增长50%。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4d6d3a8298b2b720b7b4ddcf26507750\" tg-width=\"708\" tg-height=\"500\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BNGO":"Bionano Genomics"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151923129","content_text":"(April 16) Bionano Genomics fell about 10% in Friday morning trading.\nThere's a genomics revolution underway right now. Surprisingly, though, only one pure-play genomics stock is in the top 100 most popular list on Robinhood. That lone ranger isBionano Genomics(NASDAQ:BNGO). The stock has been a major winner so far this year, with Bionano's shares vaulting 108% higher.\nBionano had generated even bigger gains earlier in 2021. By mid-February, the stock had more than quintupled year to date. However, a shift away from high-flying growth stocks caused Bionano's share price to tumble over the last couple of months.\nMany investors remain enthusiastic about the company's prospects. Bionanobeat analysts' Q4 revenue expectations. It expects to soon win accreditation in select European markets for Saphyr-based laboratory-developed tests for acute lymphocytic leukemia (ALL) and facioscapulohumeral muscular dystrophy (FSHD). The genomics testing company also thinks that it will have 150 Saphyr gene-sequencing systems installed by the end of this year, which would represent a 50% increase year over year.","news_type":1,"symbols_score_info":{"BNGO":0.9}},"isVote":1,"tweetType":1,"viewCount":783,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347254500,"gmtCreate":1618498266300,"gmtModify":1634292498714,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Moon tmr","listText":"Moon tmr","text":"Moon tmr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/347254500","repostId":"1153108819","repostType":4,"isVote":1,"tweetType":1,"viewCount":1057,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347256199,"gmtCreate":1618498056211,"gmtModify":1634292500625,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Undervalued","listText":"Undervalued","text":"Undervalued","images":[{"img":"https://static.tigerbbs.com/a884714d80b483afc89b4976986a4838","width":"1080","height":"2024"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/347256199","isVote":1,"tweetType":1,"viewCount":1110,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":345354871,"gmtCreate":1618281632793,"gmtModify":1634293965669,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Msft is the future","listText":"Msft is the future","text":"Msft is the future","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/345354871","repostId":"1193878765","repostType":4,"isVote":1,"tweetType":1,"viewCount":969,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346295171,"gmtCreate":1618042001193,"gmtModify":1634295084271,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574905837621452","idStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Buy now!!","listText":"Buy now!!","text":"Buy now!!","images":[{"img":"https://static.tigerbbs.com/e3d985074edadc0d415a66a576cad95e","width":"1080","height":"2117"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/346295171","isVote":1,"tweetType":1,"viewCount":1164,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":376971819,"gmtCreate":1619085058831,"gmtModify":1634288685551,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Sell sell sell","listText":"Sell sell sell","text":"Sell sell sell","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/376971819","repostId":"2129808947","repostType":4,"repost":{"id":"2129808947","kind":"news","pubTimestamp":1619079273,"share":"https://www.laohunote.com/m/news/2129808947?lang=zh_CN&edition=full","pubTime":"2021-04-22 16:14","market":"us","language":"en","title":"American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2129808947","media":"Investopedia","summary":"Key Takeaways\n\nAnalysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.\nPassenger load fac","content":"<p><h3>Key Takeaways</h3> <ul>  <li>Analysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.</li>  <li>Passenger load factor is expected to fall YOY.</li>  <li>Revenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.</li> </ul> American Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.</p><p><blockquote><h3>主要要点</h3><ul><li>分析师预计 2020 财年第一季度调整后每股收益为 -4.26 美元，而 -2.65 美元。</li><li>载客率预计同比下降。</li><li>由于 COVID-19 大流行，预计收入将连续第五个季度下降。</li></ul>由于 COVID-19 大流行促使许多潜在旅客呆在家里，美国航空集团公司 (AAL) 去年的乘客需求急剧下降。该公司2020年的客运量不到去年同期2.15亿人次的一半。除了这些财务压力之外，美国航空公司还面临美国的反垄断调查。司法部与捷蓝航空公司（JBLU）建立了合作关系，因为担心该协议可能会抬高乘客票价。</blockquote></p><p> Investors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.</p><p><blockquote>当美国航空公司在 4 月 22 日开盘前公布 2021 财年第一季度收益时，投资者将关注该公司如何应对这些挑战。分析师预测，随着收入连续第五个季度下降，调整后每股亏损 (EPS) 将同比大幅扩大。</blockquote></p><p> A key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.</p><p><blockquote>投资者在收益报告中可能关注的一个关键指标是美国航空公司的载客率，这是衡量航空公司效率的指标，反映了美国航空公司座位容量的使用百分比。分析师预计载客率将同比下降，并略低于最新报告的季度（即 2020 财年第四季度）。</blockquote></p><p> American Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&amp;P 500's total return of 46.5%.</p><p><blockquote>美国航空公司的股票在过去一年中经历了多个时期的剧烈波动。2020年6月，股价领先市场飙升，但下个月却落后于市场。该股基本上横盘整理，直到 2020 年 10 月下旬开始长期上涨。美国股票在 12 月至 3 月中旬期间表现优于市场，尽管最近几周有所回落。截至4月20日，美国航空提供的1年追踪总回报率为84.2%，远远领先于标准普尔500指数46.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a772a4903ebcc543efb55c065efb3928\" tg-width=\"2244\" tg-height=\"1210\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <h2>American Airlines Earning History </h2> American Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.</p><p><blockquote><h2>美国航空盈利历史</h2>近几个月来，美国航空公司的股价因其近期的盈利历史以及投资者对新 COVID-19 疫苗和新兴经济复苏的乐观情绪而受到提振。尽管该公司在 2020 财年连续四个季度公布调整后每股亏损，但美国航空的亏损在第三季度和第四季度大幅收窄。美国航空 10 月份发布第三季度收益报告后，该股最初下跌，然后在接下来的五个月内（截至 2021 年 3 月底）上涨了一倍多。但现在，分析师预测美国的盈利复苏将逆转。他们认为 2021 财年第一季度调整后每股亏损同比扩大，并且相对于 2020 财年第四季度也环比扩大。</blockquote></p><p> American Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.</p><p><blockquote>美国航空也连续四个季度收入同比下降，这也是几年来的首次。2020 财年第一季度收入同比下降 19.6%，反映了疫情对该季度后半段的影响。2020 财年第二季度收入暴跌 86.4%，第三季度下降 73.4%，第四季度下降 64.4%。分析师预计 2021 财年第一季度的降幅将较小，但仍同比下降 52.2%。</blockquote></p><p> <table>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <thead>   <tr>    <th colspan=\"4\">American Airlines Key Stats</th>   </tr>  </thead>  <tbody>   <tr>    <td></td>    <td>Estimate for Q1 FY 2021</td>    <td>Q1 FY 2020</td>    <td>Q1 FY 2019</td>   </tr>   <tr>    <td>Adjusted EPS</td>    <td>-$4.26</td>    <td>-$2.65</td>    <td>$0.52</td>   </tr>   <tr>    <td>Revenue (billions)</td>    <td>$4.1</td>    <td>$8.5</td>    <td>$10.6</td>   </tr>   <tr>    <td>Load factor</td>    <td>63.5%</td>    <td>72.7%</td>    <td>82.2%</td>   </tr>  </tbody> </table> <h2>The Key Metric </h2> As mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.</p><p><blockquote><table><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><thead><tr><th colspan=\"4\">美国航空关键统计数据</th></tr></thead><tbody><tr><td></td><td>2021 财年第一季度的预测</td><td>2020财年第一季度</td><td>2019财年第一季度</td></tr><tr><td>调整后每股收益</td><td>-$4.26</td><td>-$2.65</td><td>$0.52</td></tr><tr><td>收入（十亿）</td><td>$4.1</td><td>$8.5</td><td>$10.6</td></tr><tr><td>载荷系数</td><td>63.5%</td><td>72.7%</td><td>82.2%</td></tr></tbody></table><h2>关键指标</h2>如前所述，美国航空投资者也可能会关注该公司的载客率。航空业的这一关键指标是衡量可用座位容量被乘客填满的百分比。较高的载客率表明乘客占用的座位百分比较高。无论机上有多少乘客，航空公司将飞机送入飞行的成本大致固定，因此有动机尽可能多地填满座位，以便更好地分配这些成本。因此，更高的负载系数是更高效率和盈利能力的标志。然而，在过去的一年里，载客率面临着巨大的压力，主要是因为新冠肺炎疫情颠覆了上述逻辑。在疫情期间，从公共卫生的角度来看，更多的飞机被认为更糟糕。随着乘客出行减少和载客率下降，美国航空公司等公司面临盈利危机。</blockquote></p><p></p><p> American Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.</p><p><blockquote>疫情期间，美国航空公司的载客率大幅下降。在2020年之前的三年里，该公司定期报告负载系数在80左右。该指标在 2020 财年第一季度首次开始下降，当时该公司报告的负载系数为 72.7%。这一比例在第二季度降至 42.3% 的低点，然后在下半年有所回升，第四季度达到 64.1%。分析师现在估计，美国在扭转载客率方面的进展将基本停止。他们预计 2021 财年第一季度的载客率将环比小幅下降至 63.5%。这一数字也将比去年同期的 72.7% 大幅下降。</blockquote></p><p></p>","source":"lsy1606203311635","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>American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</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\">\nAmerican Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Investopedia</strong><span class=\"h-time small\">2021-04-22 16:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p><h3>Key Takeaways</h3> <ul>  <li>Analysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.</li>  <li>Passenger load factor is expected to fall YOY.</li>  <li>Revenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.</li> </ul> American Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.</p><p><blockquote><h3>主要要点</h3><ul><li>分析师预计 2020 财年第一季度调整后每股收益为 -4.26 美元，而 -2.65 美元。</li><li>载客率预计同比下降。</li><li>由于 COVID-19 大流行，预计收入将连续第五个季度下降。</li></ul>由于 COVID-19 大流行促使许多潜在旅客呆在家里，美国航空集团公司 (AAL) 去年的乘客需求急剧下降。该公司2020年的客运量不到去年同期2.15亿人次的一半。除了这些财务压力之外，美国航空公司还面临美国的反垄断调查。司法部与捷蓝航空公司（JBLU）建立了合作关系，因为担心该协议可能会抬高乘客票价。</blockquote></p><p> Investors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.</p><p><blockquote>当美国航空公司在 4 月 22 日开盘前公布 2021 财年第一季度收益时，投资者将关注该公司如何应对这些挑战。分析师预测，随着收入连续第五个季度下降，调整后每股亏损 (EPS) 将同比大幅扩大。</blockquote></p><p> A key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.</p><p><blockquote>投资者在收益报告中可能关注的一个关键指标是美国航空公司的载客率，这是衡量航空公司效率的指标，反映了美国航空公司座位容量的使用百分比。分析师预计载客率将同比下降，并略低于最新报告的季度（即 2020 财年第四季度）。</blockquote></p><p> American Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&amp;P 500's total return of 46.5%.</p><p><blockquote>美国航空公司的股票在过去一年中经历了多个时期的剧烈波动。2020年6月，股价领先市场飙升，但下个月却落后于市场。该股基本上横盘整理，直到 2020 年 10 月下旬开始长期上涨。美国股票在 12 月至 3 月中旬期间表现优于市场，尽管最近几周有所回落。截至4月20日，美国航空提供的1年追踪总回报率为84.2%，远远领先于标准普尔500指数46.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a772a4903ebcc543efb55c065efb3928\" tg-width=\"2244\" tg-height=\"1210\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <h2>American Airlines Earning History </h2> American Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.</p><p><blockquote><h2>美国航空盈利历史</h2>近几个月来，美国航空公司的股价因其近期的盈利历史以及投资者对新 COVID-19 疫苗和新兴经济复苏的乐观情绪而受到提振。尽管该公司在 2020 财年连续四个季度公布调整后每股亏损，但美国航空的亏损在第三季度和第四季度大幅收窄。美国航空 10 月份发布第三季度收益报告后，该股最初下跌，然后在接下来的五个月内（截至 2021 年 3 月底）上涨了一倍多。但现在，分析师预测美国的盈利复苏将逆转。他们认为 2021 财年第一季度调整后每股亏损同比扩大，并且相对于 2020 财年第四季度也环比扩大。</blockquote></p><p> American Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.</p><p><blockquote>美国航空也连续四个季度收入同比下降，这也是几年来的首次。2020 财年第一季度收入同比下降 19.6%，反映了疫情对该季度后半段的影响。2020 财年第二季度收入暴跌 86.4%，第三季度下降 73.4%，第四季度下降 64.4%。分析师预计 2021 财年第一季度的降幅将较小，但仍同比下降 52.2%。</blockquote></p><p> <table>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <colgroup span=\"1\"></colgroup>  <thead>   <tr>    <th colspan=\"4\">American Airlines Key Stats</th>   </tr>  </thead>  <tbody>   <tr>    <td></td>    <td>Estimate for Q1 FY 2021</td>    <td>Q1 FY 2020</td>    <td>Q1 FY 2019</td>   </tr>   <tr>    <td>Adjusted EPS</td>    <td>-$4.26</td>    <td>-$2.65</td>    <td>$0.52</td>   </tr>   <tr>    <td>Revenue (billions)</td>    <td>$4.1</td>    <td>$8.5</td>    <td>$10.6</td>   </tr>   <tr>    <td>Load factor</td>    <td>63.5%</td>    <td>72.7%</td>    <td>82.2%</td>   </tr>  </tbody> </table> <h2>The Key Metric </h2> As mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.</p><p><blockquote><table><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><thead><tr><th colspan=\"4\">美国航空关键统计数据</th></tr></thead><tbody><tr><td></td><td>2021 财年第一季度的预测</td><td>2020财年第一季度</td><td>2019财年第一季度</td></tr><tr><td>调整后每股收益</td><td>-$4.26</td><td>-$2.65</td><td>$0.52</td></tr><tr><td>收入（十亿）</td><td>$4.1</td><td>$8.5</td><td>$10.6</td></tr><tr><td>载荷系数</td><td>63.5%</td><td>72.7%</td><td>82.2%</td></tr></tbody></table><h2>关键指标</h2>如前所述，美国航空投资者也可能会关注该公司的载客率。航空业的这一关键指标是衡量可用座位容量被乘客填满的百分比。较高的载客率表明乘客占用的座位百分比较高。无论机上有多少乘客，航空公司将飞机送入飞行的成本大致固定，因此有动机尽可能多地填满座位，以便更好地分配这些成本。因此，更高的负载系数是更高效率和盈利能力的标志。然而，在过去的一年里，载客率面临着巨大的压力，主要是因为新冠肺炎疫情颠覆了上述逻辑。在疫情期间，从公共卫生的角度来看，更多的飞机被认为更糟糕。随着乘客出行减少和载客率下降，美国航空公司等公司面临盈利危机。</blockquote></p><p></p><p> American Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.</p><p><blockquote>疫情期间，美国航空公司的载客率大幅下降。在2020年之前的三年里，该公司定期报告负载系数在80左右。该指标在 2020 财年第一季度首次开始下降，当时该公司报告的负载系数为 72.7%。这一比例在第二季度降至 42.3% 的低点，然后在下半年有所回升，第四季度达到 64.1%。分析师现在估计，美国在扭转载客率方面的进展将基本停止。他们预计 2021 财年第一季度的载客率将环比小幅下降至 63.5%。这一数字也将比去年同期的 72.7% 大幅下降。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/american-airlines-q1-2021-earnings-preview-5179859?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo\">Investopedia</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":{"AAL":"美国航空"},"source_url":"https://www.investopedia.com/american-airlines-q1-2021-earnings-preview-5179859?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129808947","content_text":"Key Takeaways\n\nAnalysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.\nPassenger load factor is expected to fall YOY.\nRevenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.\n\nAmerican Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.\nInvestors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.\nA key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.\nAmerican Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&P 500's total return of 46.5%.\nSource: TradingView.\nAmerican Airlines Earning History \nAmerican Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.\nAmerican Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.\n\n\n\n\n\n\n\nAmerican Airlines Key Stats\n\n\n\n\n\nEstimate for Q1 FY 2021\nQ1 FY 2020\nQ1 FY 2019\n\n\nAdjusted EPS\n-$4.26\n-$2.65\n$0.52\n\n\nRevenue (billions)\n$4.1\n$8.5\n$10.6\n\n\nLoad factor\n63.5%\n72.7%\n82.2%\n\n\n\nThe Key Metric \nAs mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.\nAmerican Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.","news_type":1,"symbols_score_info":{"AAL":0.9}},"isVote":1,"tweetType":1,"viewCount":2958,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347254500,"gmtCreate":1618498266300,"gmtModify":1634292498714,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Moon tmr","listText":"Moon tmr","text":"Moon tmr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/347254500","repostId":"1153108819","repostType":4,"isVote":1,"tweetType":1,"viewCount":1057,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356583657,"gmtCreate":1616796063579,"gmtModify":1634523986991,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Comment pls, thanks&nbsp;","listText":"Comment pls, thanks&nbsp;","text":"Comment pls, thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/356583657","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://www.laohunote.com/m/news/1141686975?lang=zh_CN&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading<blockquote>知乎科技首日交易下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股 8.02 美元，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，公司估值约为 53 亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们估计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年增加到31.5%，在2025年增加到37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>截至2020年底，知乎累计拥有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 2020 年 2.07 亿美元的销售额，这将表明隐含估值为 75 亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿条问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周源拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>主要人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户群的52.6%。知乎的很多用户都是学生和白领职场人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年推出付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，平均每月会员人数同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它展示了高质量的数据和内容如何产生大量的收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一大积极因素是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容社区市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国付费会员市场规模（按收入计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供集成的内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国内容商务解决方案市场规模（按收入计），2015-2025E</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zhihu Technology fall on its first day of trading<blockquote>知乎科技首日交易下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading<blockquote>知乎科技首日交易下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-27 01:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股 8.02 美元，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，公司估值约为 53 亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们估计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年增加到31.5%，在2025年增加到37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>截至2020年底，知乎累计拥有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 2020 年 2.07 亿美元的销售额，这将表明隐含估值为 75 亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿条问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周源拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>主要人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户群的52.6%。知乎的很多用户都是学生和白领职场人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年推出付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，平均每月会员人数同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它展示了高质量的数据和内容如何产生大量的收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一大积极因素是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容社区市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国付费会员市场规模（按收入计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供集成的内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国内容商务解决方案市场规模（按收入计），2015-2025E</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356589492,"gmtCreate":1616795918616,"gmtModify":1631887794456,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>fire!!","listText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>fire!!","text":"$Bionano Genomics(BNGO)$fire!!","images":[{"img":"https://static.tigerbbs.com/92173781bf0eabd6d04cd1b3514d9cc3","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/356589492","isVote":1,"tweetType":1,"viewCount":771,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":326748772,"gmtCreate":1615723151996,"gmtModify":1703492386502,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Holding long term, 2022 will be the booming year for Nio","listText":"Holding long term, 2022 will be the booming year for Nio","text":"Holding long term, 2022 will be the booming year for Nio","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/326748772","repostId":"2118935050","repostType":4,"isVote":1,"tweetType":1,"viewCount":533,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350890639,"gmtCreate":1616171998021,"gmtModify":1631885382934,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/MARA\">$Marathon Digital Holdings Inc(MARA)$</a>I'm in the green","listText":"<a href=\"https://laohu8.com/S/MARA\">$Marathon Digital Holdings Inc(MARA)$</a>I'm in the green","text":"$Marathon Digital Holdings Inc(MARA)$I'm in the green","images":[{"img":"https://static.tigerbbs.com/2268ffaaf544cc83bce5616f351a757b","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/350890639","isVote":1,"tweetType":1,"viewCount":734,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":102234969,"gmtCreate":1620216612151,"gmtModify":1634206934948,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"GME of crypto","listText":"GME of crypto","text":"GME of crypto","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/102234969","repostId":"1115203133","repostType":4,"repost":{"id":"1115203133","kind":"news","pubTimestamp":1620178775,"share":"https://www.laohunote.com/m/news/1115203133?lang=zh_CN&edition=full","pubTime":"2021-05-05 09:39","market":"us","language":"en","title":"Why is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币的价格为何飙升？2021 年加密货币飙升 11,000%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1115203133","media":"Market Wacth","summary":"Every dog has its day…but a whole year?Indeed, dogecoin, the meme cryptocurrency linked to an image ","content":"<p>Every dog has its day…but a whole year?</p><p><blockquote>每只狗都有它的一天…但是一整年呢？</blockquote></p><p>Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.</p><p><blockquote>事实上，狗狗币（dogecoin）是一种与柴犬狗图像相关的迷因加密货币，它正在享受近年来加密货币最好的一年之一，今年迄今为止的涨幅超过11,000%，并跻身今年最有价值的十大数字资产之列。</blockquote></p><p>At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.</p><p><blockquote>根据 CoinDesk 的数据，在上次检查时，dogecoinDOGEUSD,+8.26% 的易手价格为 54 美分，在过去 24 小时内上涨超过 23%，2021 年迄今为止上涨了约 11,210%。</blockquote></p><p>That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.</p><p><blockquote>这种抛物线般的上涨吸引了掌声和担忧，因为其支持者的目标是将模仿硬币的价值推至接近 1 美元，批评者警告说，这种资产具有资产泡沫的所有特征，注定会破裂并留下大屠杀。</blockquote></p><p>Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”<img src=\"https://static.tigerbbs.com/7c7201d3eb982c0d5d636bf8ff4a1ca7\" tg-width=\"505\" tg-height=\"367\" referrerpolicy=\"no-referrer\">So why is dogecoin, pronounced “dōj-coin,”&nbsp;on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:</p><p><blockquote>只是，不要把这句话告诉那些为加密货币欢呼的人，否则可能会听到这句常见的话： “享受贫穷吧”。那么，为什么发音为 “dōj-coin ”的狗狗币会遭受如此巨大的冲击，甚至超过了被认为是数字资产和区块链时代更严肃的代表的加密货币呢？以下是几个原因：</blockquote></p><p>Its biggest booster set to guest host ‘SNL’</p><p><blockquote>其最大的助推器将是嘉宾主持《周六夜现场》</blockquote></p><p>Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn&nbsp;cheers and jeers&nbsp;for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.</p><p><blockquote>特斯拉公司和 SpaceX 的首席执行官埃隆-马斯克（Elon Musk）将于本周末主持《周六夜现场》（Saturday Night Live），该节目已经为这位技术专家赢得了欢呼和嘲笑。他已经成为今年狗狗币最突出、最直言不讳的冠军之一，一些人猜测他可以做些什么来推广doge。</blockquote></p><p>Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.</p><p><blockquote>在《周六夜现场》演出之前，马斯克在最近的一条推特上确实称自己为 “狗爹”。</blockquote></p><p><img src=\"https://static.tigerbbs.com/54a1a1602240507ad985c5efcb2571f5\" tg-width=\"501\" tg-height=\"177\" referrerpolicy=\"no-referrer\">Brokerages trade dogecoin</p><p><blockquote>经纪商交易狗狗币</blockquote></p><p>A number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.</p><p><blockquote>一些新的场所已经宣布，他们将在最近几天和几周内在他们的交易所交易狗狗币。</blockquote></p><p>Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform&nbsp;eToro also made dogecoin&nbsp;available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.</p><p><blockquote>加密货币交易所 Geminion 周二宣布支持该硬币的交易和托管。交易平台 eToro 也允许狗狗币在其平台上进行交易。webull 于 4 月 20 日允许其用户购买狗狗币。</blockquote></p><p>FOMO</p><p><blockquote>福莫</blockquote></p><p>Fear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.</p><p><blockquote>据说，对错过的恐惧也是激增的背后原因。一些加密货币参与者推测，dogecoin 的上涨得到了零售交易者的支持，他们认为这种模仿币比 bitcoinBTCUSD（-0.16%）更容易获得投资（或交易），bitcoinBTCUSD 在最后一次检查时以 54,000 美元易手CoinDesk。</blockquote></p><p>“Dogecoin&nbsp;is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.</p><p><blockquote>“Oanda 高级市场分析师爱德华-莫亚（Edward Moya）在每日报告中写道：”狗狗币之所以飙升，是因为许多加密货币交易者不想错过埃隆-马斯克（Elon Musk）主持《周六夜现场》（Saturday Night Live）节目所带来的任何热点。</blockquote></p><p>Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&amp;P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.</p><p><blockquote>传统资产的收益似乎也更加平淡无奇。相比之下，黄金期货GC00,0.17%今年迄今已下跌6%，道琼斯工业平均指数JIA,+0.06%和标普500指数SPX,-0.67%在2021年至少上涨10%，而纳斯达克综合指数COMP,-1.88%涨幅超过5%。</blockquote></p><p>Accessibility</p><p><blockquote>可访问性</blockquote></p><p>Konstantin Boyko-Romanovsky, CEO of&nbsp;Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.</p><p><blockquote>Allnodes 首席执行官康斯坦丁·博伊科-罗曼诺夫斯基 (Konstantin Boyko-Romanovsky) 通过电子邮件表示，他认为马斯克和亿万富翁马克·库班 (Mark Cuban) 的支持是狗狗币牛市论点的核心，但他也表示，有些人可能认为与比特币相比，这种加密货币更容易获得，最近在降温前达到了 6 万美元以上的峰值。</blockquote></p><p>“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.</p><p><blockquote>“它对普通大众更有吸引力，因为它的成本非常低。一个比特币 6 万美元可能会让一些人望而生畏。在某种程度上，doge 更像是美元，但却是数字形式，”他写道。</blockquote></p><p>Bubbles &amp; manias</p><p><blockquote>泡沫与狂热</blockquote></p><p>Moya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”</p><p><blockquote>莫亚写道，狗狗币泡沫 “现在应该已经破裂了，但机构兴趣正试图利用这一势头，这可能会支撑狗狗币再次走高”。</blockquote></p><p>Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.</p><p><blockquote>许多怀疑论者警告说，如果狗狗币不谨慎地涉足该资产，可能会让许多新手投资者蒙受损失。</blockquote></p><p></p>","source":"lsy1604288433698","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 is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币的价格为何飙升？2021 年加密货币飙升 11,000%</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 is dogecoin’s price spiking? The crypto has surged 11,000% in 2021<blockquote>狗狗币的价格为何飙升？2021 年加密货币飙升 11,000%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Market Wacth</strong><span class=\"h-time small\">2021-05-05 09:39</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Every dog has its day…but a whole year?</p><p><blockquote>每只狗都有它的一天…但是一整年呢？</blockquote></p><p>Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.</p><p><blockquote>事实上，狗狗币（dogecoin）是一种与柴犬狗图像相关的迷因加密货币，它正在享受近年来加密货币最好的一年之一，今年迄今为止的涨幅超过11,000%，并跻身今年最有价值的十大数字资产之列。</blockquote></p><p>At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.</p><p><blockquote>根据 CoinDesk 的数据，在上次检查时，dogecoinDOGEUSD,+8.26% 的易手价格为 54 美分，在过去 24 小时内上涨超过 23%，2021 年迄今为止上涨了约 11,210%。</blockquote></p><p>That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.</p><p><blockquote>这种抛物线般的上涨吸引了掌声和担忧，因为其支持者的目标是将模仿硬币的价值推至接近 1 美元，批评者警告说，这种资产具有资产泡沫的所有特征，注定会破裂并留下大屠杀。</blockquote></p><p>Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”<img src=\"https://static.tigerbbs.com/7c7201d3eb982c0d5d636bf8ff4a1ca7\" tg-width=\"505\" tg-height=\"367\" referrerpolicy=\"no-referrer\">So why is dogecoin, pronounced “dōj-coin,”&nbsp;on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:</p><p><blockquote>只是，不要把这句话告诉那些为加密货币欢呼的人，否则可能会听到这句常见的话： “享受贫穷吧”。那么，为什么发音为 “dōj-coin ”的狗狗币会遭受如此巨大的冲击，甚至超过了被认为是数字资产和区块链时代更严肃的代表的加密货币呢？以下是几个原因：</blockquote></p><p>Its biggest booster set to guest host ‘SNL’</p><p><blockquote>其最大的助推器将是嘉宾主持《周六夜现场》</blockquote></p><p>Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn&nbsp;cheers and jeers&nbsp;for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.</p><p><blockquote>特斯拉公司和 SpaceX 的首席执行官埃隆-马斯克（Elon Musk）将于本周末主持《周六夜现场》（Saturday Night Live），该节目已经为这位技术专家赢得了欢呼和嘲笑。他已经成为今年狗狗币最突出、最直言不讳的冠军之一，一些人猜测他可以做些什么来推广doge。</blockquote></p><p>Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.</p><p><blockquote>在《周六夜现场》演出之前，马斯克在最近的一条推特上确实称自己为 “狗爹”。</blockquote></p><p><img src=\"https://static.tigerbbs.com/54a1a1602240507ad985c5efcb2571f5\" tg-width=\"501\" tg-height=\"177\" referrerpolicy=\"no-referrer\">Brokerages trade dogecoin</p><p><blockquote>经纪商交易狗狗币</blockquote></p><p>A number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.</p><p><blockquote>一些新的场所已经宣布，他们将在最近几天和几周内在他们的交易所交易狗狗币。</blockquote></p><p>Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform&nbsp;eToro also made dogecoin&nbsp;available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.</p><p><blockquote>加密货币交易所 Geminion 周二宣布支持该硬币的交易和托管。交易平台 eToro 也允许狗狗币在其平台上进行交易。webull 于 4 月 20 日允许其用户购买狗狗币。</blockquote></p><p>FOMO</p><p><blockquote>福莫</blockquote></p><p>Fear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.</p><p><blockquote>据说，对错过的恐惧也是激增的背后原因。一些加密货币参与者推测，dogecoin 的上涨得到了零售交易者的支持，他们认为这种模仿币比 bitcoinBTCUSD（-0.16%）更容易获得投资（或交易），bitcoinBTCUSD 在最后一次检查时以 54,000 美元易手CoinDesk。</blockquote></p><p>“Dogecoin&nbsp;is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.</p><p><blockquote>“Oanda 高级市场分析师爱德华-莫亚（Edward Moya）在每日报告中写道：”狗狗币之所以飙升，是因为许多加密货币交易者不想错过埃隆-马斯克（Elon Musk）主持《周六夜现场》（Saturday Night Live）节目所带来的任何热点。</blockquote></p><p>Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&amp;P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.</p><p><blockquote>传统资产的收益似乎也更加平淡无奇。相比之下，黄金期货GC00,0.17%今年迄今已下跌6%，道琼斯工业平均指数JIA,+0.06%和标普500指数SPX,-0.67%在2021年至少上涨10%，而纳斯达克综合指数COMP,-1.88%涨幅超过5%。</blockquote></p><p>Accessibility</p><p><blockquote>可访问性</blockquote></p><p>Konstantin Boyko-Romanovsky, CEO of&nbsp;Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.</p><p><blockquote>Allnodes 首席执行官康斯坦丁·博伊科-罗曼诺夫斯基 (Konstantin Boyko-Romanovsky) 通过电子邮件表示，他认为马斯克和亿万富翁马克·库班 (Mark Cuban) 的支持是狗狗币牛市论点的核心，但他也表示，有些人可能认为与比特币相比，这种加密货币更容易获得，最近在降温前达到了 6 万美元以上的峰值。</blockquote></p><p>“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.</p><p><blockquote>“它对普通大众更有吸引力，因为它的成本非常低。一个比特币 6 万美元可能会让一些人望而生畏。在某种程度上，doge 更像是美元，但却是数字形式，”他写道。</blockquote></p><p>Bubbles &amp; manias</p><p><blockquote>泡沫与狂热</blockquote></p><p>Moya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”</p><p><blockquote>莫亚写道，狗狗币泡沫 “现在应该已经破裂了，但机构兴趣正试图利用这一势头，这可能会支撑狗狗币再次走高”。</blockquote></p><p>Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.</p><p><blockquote>许多怀疑论者警告说，如果狗狗币不谨慎地涉足该资产，可能会让许多新手投资者蒙受损失。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/why-is-dogecoins-price-spiking-the-crypto-has-surged-11-000-in-2021-11620151738?mod=home-page\">Market Wacth</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.marketwatch.com/story/why-is-dogecoins-price-spiking-the-crypto-has-surged-11-000-in-2021-11620151738?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115203133","content_text":"Every dog has its day…but a whole year?Indeed, dogecoin, the meme cryptocurrency linked to an image of a Shiba Inu dog, has been enjoying one of the best years for cryptocurrency in recent memory, boasting year-to-date gains of more than 11,000% and putting it in the top 10 of the most highly valued digital assets this year.At last check, dogecoinDOGEUSD,+8.26%was changing hands at 54 cents, up more than 23% in the past 24 hours and up around 11,210% so far in 2021, according to CoinDesk.That parabolic rise is drawing both applause and apprehension as its supporters aim to drive the parody coin to a value near $1, with critics warning that the asset bears all the hallmarks of an asset bubble that is bound to pop and leave carnage in its wake.Only, don’t tell that to those cheerleading the crypto, or risk being met with this common refrain: “enjoy being poor.”So why is dogecoin, pronounced “dōj-coin,” on such a monumental tear that has outstripped crypto considered more serious representatives of the age of digital assets and blockchain? Here are a few reasons:Its biggest booster set to guest host ‘SNL’Elon Musk, CEO of Tesla Inc. and SpaceX, will host “Saturday Night Live” this weekend, which has already drawn cheers and jeers for the technologist. He has become one of the most prominent and vocal champions of dogecoin this year and some speculate that he could do something to promote doge.Musk did refer to himself as the “dogefather” in one recent tweet ahead of his “Saturday Night Live” gig.Brokerages trade dogecoinA number of new venues have announced that they will trade dogecoin on their exchanges in recent days and weeks.Crypto exchange Geminion Tuesdayannounced trading and custody support for the coin. Trading platform eToro also made dogecoin available for trading on its platform.Webullallowed its users to purchase dogecoin back on April 20.FOMOFear of missing out also is said to be behind the surge. Some crypto participants speculate that the rise in dogecoin is being supported by retail traders who see the parody coin as more accessible investment (or trade) than, say, bitcoinBTCUSD,-0.16%,which was changing hands at $54,000, at last check on CoinDesk.“Dogecoin is surging because many cryptocurrency traders do not want to miss out on any buzz that stems from Elon Musk’s hosting of ‘Saturday Night Live,’” wrote Edward Moya, senior market analyst at Oanda, in a daily note.Gains in traditional assets also might seem more pedestrian. By comparison, gold futuresGC00,0.17%are down 6% so far this year, the Dow Jones Industrial AverageDJIA,+0.06%and the S&P 500 indexSPX,-0.67%are up by at least 10% in 2021, while the Nasdaq Composite IndexCOMP,-1.88%has gained over 5%.AccessibilityKonstantin Boyko-Romanovsky, CEO of Allnodes, via an emailed message, said he viewed support from Musk and fellow billionaire Mark Cuban as central to the bull thesis for dogecoin, but also said that some may perceive the crypto as more accessible compared against bitcoin, which hit a recent peak above $60,000 before cooling.“It appeals more to the general public because it costs so little. $60,000 for a single bitcoin may be intimidating to some. In a way, doge then is more like a USD but in a digital form,” he wrote.Bubbles & maniasMoya wrote that the dogecoin bubble should have “popped by now, but institutional interest is trying to take advantage of this momentum and that could support another push higher.”Many skeptics warn that dogecoin could leave a lot of newbie investors hemorrhaging losses if they wade into the asset imprudently.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":3869,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348913867,"gmtCreate":1617878478059,"gmtModify":1634296013727,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"To the moon&nbsp;","listText":"To the moon&nbsp;","text":"To the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/348913867","repostId":"1112389819","repostType":4,"repost":{"id":"1112389819","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1617854410,"share":"https://www.laohunote.com/m/news/1112389819?lang=zh_CN&edition=full","pubTime":"2021-04-08 12:00","market":"us","language":"en","title":"Cathie Wood Adds These Stocks To The Newly-Created Space Exploration ETF And Others<blockquote>Cathie Wood 将这些股票添加到新创建的太空探索 ETF 和其他股票中</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112389819","media":"Benzinga Earnings","summary":"Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were ","content":"<p>Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm's ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 35 stocks that the hedge fund bought and sold on Wednesday.</p><p><blockquote>凯西-伍德（Cathie Wood）的方舟投资管理公司（Ark Investment Management）每天晚上都会发送一封电子邮件，列出该公司 ETF 当天买卖的股票。近几个月来，这些电子邮件会导致某些股票在盘后交易中飙升。以下是该对冲基金周三买卖的 35 只股票。</blockquote></p><p> Trades For<b>ArkSpace Exploration &amp; Innovation ETF</b>ARKX 1.32%:</p><p><blockquote>交易<b>方舟空间探索与创新 ETF</b>ARKX 1.32%：</blockquote></p><p> <b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 141,100 shares of the blank check company, representing about 0.2503% of the ETF.</p><p><blockquote><b>阿特拉斯克雷斯特投资公司</b>ACIC 1.35%：买入空白支票公司141,100股，约占该ETF的0.2503%。</blockquote></p><p> Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p><p><blockquote>Atlas Crest 股价周三收盘下跌 1.57%，至 10.06 美元，盘后交易中上涨 1.89%。该股52周高点18.60美元，低点9.73美元。</blockquote></p><p> <b>Jaws Spitfire Acquisition Corp</b>SPFR 0.38%: Bought 241,618 shares of the blank check company, representing about 0.4389% of the ETF.</p><p><blockquote><b>Jaws Spitfire 收购公司</b>SPFR 0.38%：购买空白支票公司241,618股，约占该ETF的0.4389%。</blockquote></p><p> Jaws stock closed 0.3% higher at $10.46 on Wednesday and rose 1.91% in the after-hours. It has a 52-week high of $12.10 and low of $9.95.</p><p><blockquote>Jaws 股价周三收盘上涨 0.3%，至 10.46 美元，盘后上涨 1.91%。52 周高点为 12.10 美元，低点为 9.95 美元。</blockquote></p><p> <b>Iridium Communications Inc</b>IRDM 2.05%: Bought 35,963 shares of the mobile<b>satellite communications</b>services, representing about 0.2525% of the ETF.</p><p><blockquote><b>铱星通信公司</b>IRDM 2.05%：购买 35,963 股 the mobile 股票<b>卫星通信</b>服务，约占ETF的0.2525%。</blockquote></p><p> <i>See Also:The First 39 Companies In Cathie Wood's Ark Invest Space ETF</i></p><p><blockquote><i>另请参阅：Cathie Wood 的 Ark Invest Space ETF 中的首批 39 家公司</i></blockquote></p><p> Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p><p><blockquote>铱星股价收盘下跌 2.05%，至 40.07 美元，盘后交易中上涨 1.07%。该股52周高点54.65美元，低点19.18美元。</blockquote></p><p> <b>Reinvent Technology Partners</b>RTP 0.2%: Bought 140,900 shares of the blank-check company, representing 0.2496% of the ETF.</p><p><blockquote><b>重塑技术合作伙伴</b>RTP 0.2%：购买空白支票公司140,900股，占该ETF的0.2496%。</blockquote></p><p> Reinvent shares closed 0.39% lower at $10.11 and were up 1% in after-hours trading. The stock has a 52-week high of $17 and low of $9.86.</p><p><blockquote>Reinvent 股价收盘下跌 0.39%，至 10.11 美元，盘后交易中上涨 1%。该股52周高点17美元，低点9.86美元。</blockquote></p><p> <b>Teradyne Inc</b>TER 0.45%: Sold 11,302 shares of the equipment design and manufacturing company, representing about 0.259% of the ETF.</p><p><blockquote><b>泰瑞达公司</b>TER 0.45%：卖出11,302股设备设计制造公司股票，约占该ETF的0.259%。</blockquote></p><p> Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p><p><blockquote>泰瑞达股价收盘下跌 0.45%，至 131.78 美元。该股52周高点147.90美元，低点56.42美元。</blockquote></p><p> <b>Deere &amp; Co</b>DE 0.28%: Sold 7,781 shares of the agriculture, construction and forestry equipment maker, representing about 0.5072% of the ETF.</p><p><blockquote><b>Deere公司</b>DE 0.28%：出售7,781股农业、建筑和林业设备制造商股票，约占该ETF的0.5072%。</blockquote></p><p> Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p><p><blockquote>Deere股价收盘下跌 0.22%，至 374.79 美元。该股52周高点392.42美元，低点117.85美元。</blockquote></p><p> <b>AeroVironment Inc</b>AVAV 3.44%: Sold 5,100 shares in the California-headquartered defense contractor, representing about 0.10% of the ETF.</p><p><blockquote><b>航空环境公司</b>AVAV 3.44%：出售这家总部位于加利福尼亚州的国防承包商的 5,100 股股票，约占该 ETF 的 0.10%。</blockquote></p><p> AeroVironment stock closed 3.44% lower at $113.37 on Wednesday. It has a 52-week high of $143.72 and low of $53.15.</p><p><blockquote>AeroVironment 股价周三收盘下跌 3.44%，至 113.37 美元。52 周高点为 143.72 美元，低点为 53.15 美元。</blockquote></p><p> <b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 28,749 shares in the semiconductor manufacturing and design company, representing about 0.603% of the ETF.</p><p><blockquote><b>台积电制造公司。共</b>TSM 2.06%：出售这家半导体制造和设计公司的28,749股股票，约占该ETF的0.603%。</blockquote></p><p> Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p><p><blockquote>台积电股价周三收盘下跌 2.08%，至 119.89 美元。52周高点为142.20美元，低点为47.72美元。</blockquote></p><p> Trades For<b>Ark Fintech Innovation ETF</b>ARKF 1.24%:</p><p><blockquote>交易<b>方舟金融科技创新ETF</b>ARKF 1.24%：</blockquote></p><p> <b>Base Inc</b>BAINF 0.97%: Bought 313,000 shares in Tokyo of the online services company that develops and builds e-commerce platforms, representing about 0.1195% of the ETF.</p><p><blockquote><b>基地公司</b>BAINF 0.97%：在东京购买了这家开发和构建电子商务平台的在线服务公司的313,000股股票，约占该ETF的0.1195%。</blockquote></p><p> Base OTC stock closed 0.97% higher at $15.65 on Wednesday. It has a 52-week high of $179 and low of $14.61.</p><p><blockquote>Base OTC 股票周三收盘上涨 0.97%，至 15.65 美元。52 周高点为 179 美元，低点为 14.61 美元。</blockquote></p><p> <b>Yeahka Ltd</b>YHEKF: Bought 997,200 shares in Hong Kong of the payment-based technology platform, representing about 0.18% of the ETF.</p><p><blockquote><b>耶卡有限公司</b>YHEKF：在香港购买了997,200股基于支付的技术平台股票，约占该ETF的0.18%。</blockquote></p><p> Yeahka stock closed 0.64% lower at $7.75 on Wednesday. It has a 52-week high of $15.28 and low of $4.78.</p><p><blockquote>Yeahka 股价周三收盘下跌 0.64%，至 7.75 美元。52 周高点为 15.28 美元，低点为 4.78 美元。</blockquote></p><p> <b>LendingClub Corp</b>LC 0.95%: Bought 204,348 shares of the peer-to-peer lending company, representing about 0.0789% of the ETF.</p><p><blockquote><b>贷款俱乐部公司</b>LC 0.95%：买入P2P借贷公司204,348股，约占该ETF的0.0789%。</blockquote></p><p> LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p><p><blockquote>LendingClub 股价周三收盘下跌 0.88%，至 15.7 美元。52 周高点为 22.68 美元，低点为 4.32 美元。</blockquote></p><p> <b>LendingTree Inc</b>TREE 5.34%: Sold 15,762 shares of the online lending marketplace company, representing about 0.0824% of the ETF.</p><p><blockquote><b>贷款树公司</b>TREE 5.34%：出售15,762股在线借贷市场公司股票，约占该ETF的0.0824%。</blockquote></p><p> LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</p><p><blockquote>LendingTree 股价周三收盘上涨 5.34%，至 229.26 美元。52 周高点为 372.64 美元，低点为 175 美元。</blockquote></p><p> Trades For<b>Ark Genomic Revolution ETF</b>ARKG 3.26%:</p><p><blockquote>交易<b>方舟基因组革命 ETF</b>方框 3.26%：</blockquote></p><p> <b>10X Genomics Inc</b>TXG 6.03%: Bought 78,908 shares of the gene sequencing biotechnology company, representing about 0.1526% of the ETF.</p><p><blockquote><b>10X基因组学公司</b>TXG 6.03%：买入基因测序生物技术公司78,908股，约占该ETF的0.1526%。</blockquote></p><p> 10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p><p><blockquote>10X 股价周三收盘下跌 6.03%，至 185.34 美元。52 周高点为 201.70 美元，低点为 58.11 美元。</blockquote></p><p> <b>Signify Health Inc</b>SGFY 3.65%: Bought 182,193 shares of the healthcare tech company, representing about 0.0508% of the ETF.</p><p><blockquote><b>昕诺飞健康公司</b>SGFY 3.65%：购买了这家医疗保健科技公司的182,193股股票，约占该ETF的0.0508%。</blockquote></p><p> Signify shares closed 4.08% lower at $26.35 on Wednesday and were up 0.53% in after-hours. It has a 52-week high of $40.79 and low of $22.13.</p><p><blockquote>Signify 股价周三收盘下跌 4.08%，至 26.35 美元，盘后上涨 0.53%。52 周高点为 40.79 美元，低点为 22.13 美元。</blockquote></p><p> <b>Repare Therapeutics Inc</b>RPTX 0.78%: Bought 10,700 shares of the Canadian oncology company, representing about 0.0035% of the ETF.</p><p><blockquote><b>修复治疗公司</b>RPTX 0.78%：买入加拿大肿瘤公司10,700股，约占该ETF的0.0035%。</blockquote></p><p> Repare stock closed 0.78% higher at $30.96 on Wednesday. It has a 52-week high of $46.44 and low of $21.45.</p><p><blockquote>Repare 股价周三收盘上涨 0.78%，至 30.96 美元。52 周高点为 46.44 美元，低点为 21.45 美元。</blockquote></p><p> <b>908 Devices Inc</b>MASS 6.18%: Bought 51,661 shares of the purpose-built handheld and devices for chemical and biomolecular analysis maker, representing about 0.0273% of the ETF.</p><p><blockquote><b>908设备公司</b>MASS 6.18%：购买了51,661股专用手持和化学和生物分子分析设备制造商的股票，约占该ETF的0.0273%。</blockquote></p><p> 908 Devices stock closed 6.18% lower at $46.95 on Wednesday. It has a 52-week high of $79.60 and low of $38.88.</p><p><blockquote>908 Devices 股价周三收盘下跌 6.18%，至 46.95 美元。52周高点为79.60美元，低点为38.88美元。</blockquote></p><p></p><p> <b>Pluristem Therapeutics Inc</b>PSTI 2.09%: Sold 2,220 shares of the Israel-based stemcell company, representing about 0.0001% of the ETF.</p><p><blockquote><b>Pluristem 治疗公司</b>PSTI 2.09%：出售了这家以色列干细胞公司的2,220股股票，约占该ETF的0.0001%。</blockquote></p><p> Pluristem stock closed 2.09% higher at $4.89 on Wednesday. It has a 52-week high of $13.29 and low of $3.95.</p><p><blockquote>Pluristem 股价周三收盘上涨 2.09%，至 4.89 美元。52 周高点为 13.29 美元，低点为 3.95 美元。</blockquote></p><p> Trades For<b>ArkInnovation ETF</b>ARKK 2.33%:</p><p><blockquote>交易<b>ArkInnovation ETF</b>方舟 2.33%：</blockquote></p><p> <b>Zoom Video Communications Inc</b>ZM 2.03%: Bought 98,500 shares of the video calling company, representing about 0.1326% of the ETF.</p><p><blockquote><b>Zoom Video通信公司</b>ZM 2.03%：买入视频通话公司98,500股，约占该ETF的0.1326%。</blockquote></p><p> Zoom stock closed 2.03% lower at $323.08 on Wednesday. It has a 52-week high of $588.84 and low of $109.57.</p><p><blockquote>Zoom 股价周三收盘下跌 2.03%，至 323.08 美元。52 周高点为 588.84 美元，低点为 109.57 美元。</blockquote></p><p> <b>10X Genomics Inc</b>TXG 6.03%: Bought 111,047 shares of the gene sequencing biotechnology company, representing about 0.0865% of the ETF.</p><p><blockquote><b>10X基因组学公司</b>TXG 6.03%：买入基因测序生物技术公司111,047股，约占该ETF的0.0865%。</blockquote></p><p> 10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p><p><blockquote>10X 股价周三收盘下跌 6.03%，至 185.34 美元。52 周高点为 201.70 美元，低点为 58.11 美元。</blockquote></p><p> <b>Trimble Inc</b>TRMB 3.84%: Bought 237,782 shares of the California-based hardware, software and services technology company, representing about 0.0813% of the ETF.</p><p><blockquote><b>Trimble公司</b>TRMB 3.84%：购买了这家总部位于加州的硬件、软件和服务技术公司的237,782股股票，约占该ETF的0.0813%。</blockquote></p><p> Trimble shares closed 3.84% lower at $79.74 on Wednesday. It has a 52-week high of $84.86 and low of $30.87.</p><p><blockquote>Trimble 股价周三收盘下跌 3.84%，至 79.74 美元。52 周高点为 84.86 美元，低点为 30.87 美元。</blockquote></p><p> <b>Palantir Technologies Inc</b>PLTR 1.57%: Bought 1,045,600 shares of the big data analytics company, representing about 0.1007% of the ETF.</p><p><blockquote><b>帕兰蒂尔技术公司</b>PLTR 1.57%：买入大数据分析公司1,045,600股，约占该ETF的0.1007%。</blockquote></p><p> Palantir shares closed 1.59% lower at $22.90 on Wednesday and rose 1.05% in the after-hours. It has a 52-week high of $45 and low of $8.90.</p><p><blockquote>Palantir 股价周三收盘下跌 1.59%，至 22.90 美元，盘后上涨 1.05%。52 周高点为 45 美元，低点为 8.90 美元。</blockquote></p><p> <b>Docusign Inc</b>DOCU: Bought 103,783 shares of the online signature services company, representing about 0.0891% of the ETF.</p><p><blockquote><b>Docusign公司</b>DOCU：购买了在线签名服务公司103,783股股票，约占该ETF的0.0891%。</blockquote></p><p> Docusign shares closed flat at $205.71 on Wednesday and were up 0.63% in after-hours trading. The stock has a 52-week high of $290.23 and low of $85.84.</p><p><blockquote>Docusign 股价周三收于 205.71 美元，盘后交易中上涨 0.63%。该股52周高点290.23美元，低点85.84美元。</blockquote></p><p> <b>DraftKings Inc</b>DKNG 2.68%: Bought 610,847 shares of the daily fantasy sports company, representing about 0.1595% of the ETF.</p><p><blockquote><b>DraftKings公司</b>DKNG 2.68%：买入每日幻想体育公司610,847股，约占该ETF的0.1595%。</blockquote></p><p> DraftKings shares closed 2.68% lower at $62.09 on Wednesday and were up 0.64% in the after-hours. It has a 52-week high of $74.38 and low of $12.68.</p><p><blockquote>DraftKings 股价周三收盘下跌 2.68%，至 62.09 美元，盘后上涨 0.64%。52 周高点为 74.38 美元，低点为 12.68 美元。</blockquote></p><p> Trades for<b>ARK Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ):</p><p><blockquote>交易<b>方舟自主技术与机器人 ETF</b>（蝙蝠：ARKQ）：</blockquote></p><p> <b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 71,635 shares of the blank check company, representing about 0.0214% of the ETF.</p><p><blockquote><b>阿特拉斯克雷斯特投资公司</b>ACIC 1.35%：买入空白支票公司71,635股，约占该ETF的0.0214%。</blockquote></p><p> Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p><p><blockquote>Atlas Crest 股价周三收盘下跌 1.57%，至 10.06 美元，盘后交易中上涨 1.89%。该股52周高点18.60美元，低点9.73美元。</blockquote></p><p> <b>Alphabet Inc</b>GOOGL 1.35%GOOG 1.12%: Sold 16,651 Class C shares of the Google parent company, representing about 1.10% of the ETF.</p><p><blockquote><b>Alphabet公司</b>GOOGL 1.35%GOOG 1.12%：出售谷歌母公司 16,651 股 C 类股票，约占该 ETF 的 1.10%。</blockquote></p><p> Alphabet shares closed 1.35% higher at $2239.03 on Wednesday and were up 0.40% in the after-hours. The stock has a 52-week high of $2,244.50 and low of $1,177.25.</p><p><blockquote>Alphabet股价周三收盘上涨 1.35%，至 2239.03 美元，盘后上涨 0.40%。该股52周高点2,244.50美元，低点1,177.25美元。</blockquote></p><p> <b>Iridium Communications Inc</b>IRDM 2.05%: Bought 59,521 shares of the mobile<b>satellite communications</b>services, representing about 0.0705% of the ETF.</p><p><blockquote><b>铱星通信公司</b>IRDM 2.05%：购买 59,521 股移动设备股票<b>卫星通信</b>服务，约占ETF的0.0705%。</blockquote></p><p> Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p><p><blockquote>铱星股价收盘下跌 2.05%，至 40.07 美元，盘后交易中上涨 1.07%。该股52周高点54.65美元，低点19.18美元。</blockquote></p><p> <b>Kratos Defense &amp; Security Solutions</b>KTOS 2.34%: Bought 313,506 shares of the U.S. defense contractor and security systems integrator company, representing about 0.2583% of the company.</p><p><blockquote><b>奎托斯国防与安全解决方案</b>KTOS 2.34%：购买了美国国防承包商和安全系统集成商公司313,506股股票，约占该公司0.2583%。</blockquote></p><p> Kratos Defense shares closed 2.34% lower at $27.97 on Wednesday and were up 1.07% in the after-hours. The stock has a 52-week high of $34.11 and low of $13.34.</p><p><blockquote>Kratos Defense 股价周三收盘下跌 2.34%，至 27.97 美元，盘后上涨 1.07%。该股52周高点34.11美元，低点13.34美元。</blockquote></p><p> <b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 97,700 shares in the semiconductor manufacturing and design company, representing about 0.3467% of the ETF.</p><p><blockquote><b>台积电制造公司。共</b>TSM 2.06%：出售这家半导体制造和设计公司股票97,700股，约占该ETF的0.3467%。</blockquote></p><p> Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p><p><blockquote>台积电股价周三收盘下跌 2.08%，至 119.89 美元。52周高点为142.20美元，低点为47.72美元。</blockquote></p><p> <b>Teradyne Inc</b>TER 0.45%: Sold 98,161 shares of the equipment design and manufacturing company, representing about 0.3802% of the ETF.</p><p><blockquote><b>泰瑞达公司</b>TER 0.45%：卖出98,161股设备设计制造公司股票，约占该ETF的0.3802%。</blockquote></p><p> Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p><p><blockquote>泰瑞达股价收盘下跌 0.45%，至 131.78 美元。该股52周高点147.90美元，低点56.42美元。</blockquote></p><p> <b>Deere &amp; Co</b>DE 0.28%: Sold 37,795 shares of the agriculture, construction and forestry equipment maker, representing about 0.4162% of the ETF.</p><p><blockquote><b>Deere公司</b>DE 0.28%：出售37,795股农业、建筑和林业设备制造商股票，约占该ETF的0.4162%。</blockquote></p><p> Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p><p><blockquote>Deere股价收盘下跌 0.22%，至 374.79 美元。该股52周高点392.42美元，低点117.85美元。</blockquote></p><p> <b>Caterpillar Inc</b>CAT 0.11%: Sold 59,610 shares of the agriculture, construction, mining and forestry equipment maker, representing about 0.4051% of the ETF.</p><p><blockquote><b>卡特彼勒公司</b>CAT 0.11%：出售59,610股农业、建筑、采矿和林业设备制造商股票，约占该ETF的0.4051%。</blockquote></p><p> Caterpillar shares closed 0.1% lower at $230.41.The stock has a 52-week high of $237.78 and low of $100.22.</p><p><blockquote>卡特彼勒股价收盘下跌 0.1%，至 230.41 美元。该股52周高点237.78美元，低点100.22美元。</blockquote></p><p> Trades For<b>ARK Next Generation Internet ETF</b>ARKW 1.62%</p><p><blockquote>交易<b>方舟下一代互联网ETF</b>ARKW 1.62%</blockquote></p><p> <b>Trade Desk Inc</b>TTD 1.23%: Bought 23,750 shares of the technology platform for ad buyers company, representing about 0.23% of the ETF.</p><p><blockquote><b>贸易服务台公司</b>TTD 1.23%：为广告买家公司购买了23,750股技术平台股票，约占该ETF的0.23%。</blockquote></p><p> Trade Desk shares closed 1.23% higher at $677.87 on Wednesday and were up 0.31% in after-hours. It has a 52-week high of $972.80 and low of $190.29.</p><p><blockquote>Trade Desk 股价周三收盘上涨 1.23%，至 677.87 美元，盘后上涨 0.31%。52 周高点为 972.80 美元，低点为 190.29 美元。</blockquote></p><p> <b>LendingClub Corp</b>LC 0.95%: Bought 150,245 shares of the peer-to-peer lending company, representing about 0.0337% of the ETF.</p><p><blockquote><b>贷款俱乐部公司</b>LC 0.95%：买入P2P借贷公司150,245股，约占该ETF的0.0337%。</blockquote></p><p></p><p> LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p><p><blockquote>LendingClub 股价周三收盘下跌 0.88%，至 15.7 美元。52 周高点为 22.68 美元，低点为 4.32 美元。</blockquote></p><p> <b>Synopsys Inc</b>SNPS 0.14%: Sold 70,396 shares of the electronic design automation company, representing about 0.2588% of the ETF.</p><p><blockquote><b>新思科技公司</b>SNPS 0.14%：卖出电子设计自动化公司股票70,396股，约占该ETF的0.2588%。</blockquote></p><p> Synopsys shares closed 0.14% lower at $257 on Wednesday. It has a 52-week high of $300.91 and low of $133.27.</p><p><blockquote>Synopsys 股价周三收盘下跌 0.14%，至 257 美元。52 周高点为 300.91 美元，低点为 133.27 美元。</blockquote></p><p> <b>LendingTree Inc</b>TREE 5.34%: Sold 12,129 shares of the online lending marketplace company, representing about 0.0406% of the ETF.</p><p><blockquote><b>贷款树公司</b>TREE 5.34%：出售12,129股在线借贷市场公司股票，约占该ETF的0.0406%。</blockquote></p><p> LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</p><p><blockquote>LendingTree 股价周三收盘上涨 5.34%，至 229.26 美元。52 周高点为 372.64 美元，低点为 175 美元。</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>Cathie Wood Adds These Stocks To The Newly-Created Space Exploration ETF And Others<blockquote>Cathie Wood 将这些股票添加到新创建的太空探索 ETF 和其他股票中</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\">\nCathie Wood Adds These Stocks To The Newly-Created Space Exploration ETF And Others<blockquote>Cathie Wood 将这些股票添加到新创建的太空探索 ETF 和其他股票中</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 Earnings </p>\n<p class=\"h-time smaller\">2021-04-08 12:00</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm's ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 35 stocks that the hedge fund bought and sold on Wednesday.</p><p><blockquote>凯西-伍德（Cathie Wood）的方舟投资管理公司（Ark Investment Management）每天晚上都会发送一封电子邮件，列出该公司 ETF 当天买卖的股票。近几个月来，这些电子邮件会导致某些股票在盘后交易中飙升。以下是该对冲基金周三买卖的 35 只股票。</blockquote></p><p> Trades For<b>ArkSpace Exploration &amp; Innovation ETF</b>ARKX 1.32%:</p><p><blockquote>交易<b>方舟空间探索与创新 ETF</b>ARKX 1.32%：</blockquote></p><p> <b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 141,100 shares of the blank check company, representing about 0.2503% of the ETF.</p><p><blockquote><b>阿特拉斯克雷斯特投资公司</b>ACIC 1.35%：买入空白支票公司141,100股，约占该ETF的0.2503%。</blockquote></p><p> Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p><p><blockquote>Atlas Crest 股价周三收盘下跌 1.57%，至 10.06 美元，盘后交易中上涨 1.89%。该股52周高点18.60美元，低点9.73美元。</blockquote></p><p> <b>Jaws Spitfire Acquisition Corp</b>SPFR 0.38%: Bought 241,618 shares of the blank check company, representing about 0.4389% of the ETF.</p><p><blockquote><b>Jaws Spitfire 收购公司</b>SPFR 0.38%：购买空白支票公司241,618股，约占该ETF的0.4389%。</blockquote></p><p> Jaws stock closed 0.3% higher at $10.46 on Wednesday and rose 1.91% in the after-hours. It has a 52-week high of $12.10 and low of $9.95.</p><p><blockquote>Jaws 股价周三收盘上涨 0.3%，至 10.46 美元，盘后上涨 1.91%。52 周高点为 12.10 美元，低点为 9.95 美元。</blockquote></p><p> <b>Iridium Communications Inc</b>IRDM 2.05%: Bought 35,963 shares of the mobile<b>satellite communications</b>services, representing about 0.2525% of the ETF.</p><p><blockquote><b>铱星通信公司</b>IRDM 2.05%：购买 35,963 股 the mobile 股票<b>卫星通信</b>服务，约占ETF的0.2525%。</blockquote></p><p> <i>See Also:The First 39 Companies In Cathie Wood's Ark Invest Space ETF</i></p><p><blockquote><i>另请参阅：Cathie Wood 的 Ark Invest Space ETF 中的首批 39 家公司</i></blockquote></p><p> Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p><p><blockquote>铱星股价收盘下跌 2.05%，至 40.07 美元，盘后交易中上涨 1.07%。该股52周高点54.65美元，低点19.18美元。</blockquote></p><p> <b>Reinvent Technology Partners</b>RTP 0.2%: Bought 140,900 shares of the blank-check company, representing 0.2496% of the ETF.</p><p><blockquote><b>重塑技术合作伙伴</b>RTP 0.2%：购买空白支票公司140,900股，占该ETF的0.2496%。</blockquote></p><p> Reinvent shares closed 0.39% lower at $10.11 and were up 1% in after-hours trading. The stock has a 52-week high of $17 and low of $9.86.</p><p><blockquote>Reinvent 股价收盘下跌 0.39%，至 10.11 美元，盘后交易中上涨 1%。该股52周高点17美元，低点9.86美元。</blockquote></p><p> <b>Teradyne Inc</b>TER 0.45%: Sold 11,302 shares of the equipment design and manufacturing company, representing about 0.259% of the ETF.</p><p><blockquote><b>泰瑞达公司</b>TER 0.45%：卖出11,302股设备设计制造公司股票，约占该ETF的0.259%。</blockquote></p><p> Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p><p><blockquote>泰瑞达股价收盘下跌 0.45%，至 131.78 美元。该股52周高点147.90美元，低点56.42美元。</blockquote></p><p> <b>Deere &amp; Co</b>DE 0.28%: Sold 7,781 shares of the agriculture, construction and forestry equipment maker, representing about 0.5072% of the ETF.</p><p><blockquote><b>Deere公司</b>DE 0.28%：出售7,781股农业、建筑和林业设备制造商股票，约占该ETF的0.5072%。</blockquote></p><p> Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p><p><blockquote>Deere股价收盘下跌 0.22%，至 374.79 美元。该股52周高点392.42美元，低点117.85美元。</blockquote></p><p> <b>AeroVironment Inc</b>AVAV 3.44%: Sold 5,100 shares in the California-headquartered defense contractor, representing about 0.10% of the ETF.</p><p><blockquote><b>航空环境公司</b>AVAV 3.44%：出售这家总部位于加利福尼亚州的国防承包商的 5,100 股股票，约占该 ETF 的 0.10%。</blockquote></p><p> AeroVironment stock closed 3.44% lower at $113.37 on Wednesday. It has a 52-week high of $143.72 and low of $53.15.</p><p><blockquote>AeroVironment 股价周三收盘下跌 3.44%，至 113.37 美元。52 周高点为 143.72 美元，低点为 53.15 美元。</blockquote></p><p> <b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 28,749 shares in the semiconductor manufacturing and design company, representing about 0.603% of the ETF.</p><p><blockquote><b>台积电制造公司。共</b>TSM 2.06%：出售这家半导体制造和设计公司的28,749股股票，约占该ETF的0.603%。</blockquote></p><p> Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p><p><blockquote>台积电股价周三收盘下跌 2.08%，至 119.89 美元。52周高点为142.20美元，低点为47.72美元。</blockquote></p><p> Trades For<b>Ark Fintech Innovation ETF</b>ARKF 1.24%:</p><p><blockquote>交易<b>方舟金融科技创新ETF</b>ARKF 1.24%：</blockquote></p><p> <b>Base Inc</b>BAINF 0.97%: Bought 313,000 shares in Tokyo of the online services company that develops and builds e-commerce platforms, representing about 0.1195% of the ETF.</p><p><blockquote><b>基地公司</b>BAINF 0.97%：在东京购买了这家开发和构建电子商务平台的在线服务公司的313,000股股票，约占该ETF的0.1195%。</blockquote></p><p> Base OTC stock closed 0.97% higher at $15.65 on Wednesday. It has a 52-week high of $179 and low of $14.61.</p><p><blockquote>Base OTC 股票周三收盘上涨 0.97%，至 15.65 美元。52 周高点为 179 美元，低点为 14.61 美元。</blockquote></p><p> <b>Yeahka Ltd</b>YHEKF: Bought 997,200 shares in Hong Kong of the payment-based technology platform, representing about 0.18% of the ETF.</p><p><blockquote><b>耶卡有限公司</b>YHEKF：在香港购买了997,200股基于支付的技术平台股票，约占该ETF的0.18%。</blockquote></p><p> Yeahka stock closed 0.64% lower at $7.75 on Wednesday. It has a 52-week high of $15.28 and low of $4.78.</p><p><blockquote>Yeahka 股价周三收盘下跌 0.64%，至 7.75 美元。52 周高点为 15.28 美元，低点为 4.78 美元。</blockquote></p><p> <b>LendingClub Corp</b>LC 0.95%: Bought 204,348 shares of the peer-to-peer lending company, representing about 0.0789% of the ETF.</p><p><blockquote><b>贷款俱乐部公司</b>LC 0.95%：买入P2P借贷公司204,348股，约占该ETF的0.0789%。</blockquote></p><p> LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p><p><blockquote>LendingClub 股价周三收盘下跌 0.88%，至 15.7 美元。52 周高点为 22.68 美元，低点为 4.32 美元。</blockquote></p><p> <b>LendingTree Inc</b>TREE 5.34%: Sold 15,762 shares of the online lending marketplace company, representing about 0.0824% of the ETF.</p><p><blockquote><b>贷款树公司</b>TREE 5.34%：出售15,762股在线借贷市场公司股票，约占该ETF的0.0824%。</blockquote></p><p> LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</p><p><blockquote>LendingTree 股价周三收盘上涨 5.34%，至 229.26 美元。52 周高点为 372.64 美元，低点为 175 美元。</blockquote></p><p> Trades For<b>Ark Genomic Revolution ETF</b>ARKG 3.26%:</p><p><blockquote>交易<b>方舟基因组革命 ETF</b>方框 3.26%：</blockquote></p><p> <b>10X Genomics Inc</b>TXG 6.03%: Bought 78,908 shares of the gene sequencing biotechnology company, representing about 0.1526% of the ETF.</p><p><blockquote><b>10X基因组学公司</b>TXG 6.03%：买入基因测序生物技术公司78,908股，约占该ETF的0.1526%。</blockquote></p><p> 10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p><p><blockquote>10X 股价周三收盘下跌 6.03%，至 185.34 美元。52 周高点为 201.70 美元，低点为 58.11 美元。</blockquote></p><p> <b>Signify Health Inc</b>SGFY 3.65%: Bought 182,193 shares of the healthcare tech company, representing about 0.0508% of the ETF.</p><p><blockquote><b>昕诺飞健康公司</b>SGFY 3.65%：购买了这家医疗保健科技公司的182,193股股票，约占该ETF的0.0508%。</blockquote></p><p> Signify shares closed 4.08% lower at $26.35 on Wednesday and were up 0.53% in after-hours. It has a 52-week high of $40.79 and low of $22.13.</p><p><blockquote>Signify 股价周三收盘下跌 4.08%，至 26.35 美元，盘后上涨 0.53%。52 周高点为 40.79 美元，低点为 22.13 美元。</blockquote></p><p> <b>Repare Therapeutics Inc</b>RPTX 0.78%: Bought 10,700 shares of the Canadian oncology company, representing about 0.0035% of the ETF.</p><p><blockquote><b>修复治疗公司</b>RPTX 0.78%：买入加拿大肿瘤公司10,700股，约占该ETF的0.0035%。</blockquote></p><p> Repare stock closed 0.78% higher at $30.96 on Wednesday. It has a 52-week high of $46.44 and low of $21.45.</p><p><blockquote>Repare 股价周三收盘上涨 0.78%，至 30.96 美元。52 周高点为 46.44 美元，低点为 21.45 美元。</blockquote></p><p> <b>908 Devices Inc</b>MASS 6.18%: Bought 51,661 shares of the purpose-built handheld and devices for chemical and biomolecular analysis maker, representing about 0.0273% of the ETF.</p><p><blockquote><b>908设备公司</b>MASS 6.18%：购买了51,661股专用手持和化学和生物分子分析设备制造商的股票，约占该ETF的0.0273%。</blockquote></p><p> 908 Devices stock closed 6.18% lower at $46.95 on Wednesday. It has a 52-week high of $79.60 and low of $38.88.</p><p><blockquote>908 Devices 股价周三收盘下跌 6.18%，至 46.95 美元。52周高点为79.60美元，低点为38.88美元。</blockquote></p><p></p><p> <b>Pluristem Therapeutics Inc</b>PSTI 2.09%: Sold 2,220 shares of the Israel-based stemcell company, representing about 0.0001% of the ETF.</p><p><blockquote><b>Pluristem 治疗公司</b>PSTI 2.09%：出售了这家以色列干细胞公司的2,220股股票，约占该ETF的0.0001%。</blockquote></p><p> Pluristem stock closed 2.09% higher at $4.89 on Wednesday. It has a 52-week high of $13.29 and low of $3.95.</p><p><blockquote>Pluristem 股价周三收盘上涨 2.09%，至 4.89 美元。52 周高点为 13.29 美元，低点为 3.95 美元。</blockquote></p><p> Trades For<b>ArkInnovation ETF</b>ARKK 2.33%:</p><p><blockquote>交易<b>ArkInnovation ETF</b>方舟 2.33%：</blockquote></p><p> <b>Zoom Video Communications Inc</b>ZM 2.03%: Bought 98,500 shares of the video calling company, representing about 0.1326% of the ETF.</p><p><blockquote><b>Zoom Video通信公司</b>ZM 2.03%：买入视频通话公司98,500股，约占该ETF的0.1326%。</blockquote></p><p> Zoom stock closed 2.03% lower at $323.08 on Wednesday. It has a 52-week high of $588.84 and low of $109.57.</p><p><blockquote>Zoom 股价周三收盘下跌 2.03%，至 323.08 美元。52 周高点为 588.84 美元，低点为 109.57 美元。</blockquote></p><p> <b>10X Genomics Inc</b>TXG 6.03%: Bought 111,047 shares of the gene sequencing biotechnology company, representing about 0.0865% of the ETF.</p><p><blockquote><b>10X基因组学公司</b>TXG 6.03%：买入基因测序生物技术公司111,047股，约占该ETF的0.0865%。</blockquote></p><p> 10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p><p><blockquote>10X 股价周三收盘下跌 6.03%，至 185.34 美元。52 周高点为 201.70 美元，低点为 58.11 美元。</blockquote></p><p> <b>Trimble Inc</b>TRMB 3.84%: Bought 237,782 shares of the California-based hardware, software and services technology company, representing about 0.0813% of the ETF.</p><p><blockquote><b>Trimble公司</b>TRMB 3.84%：购买了这家总部位于加州的硬件、软件和服务技术公司的237,782股股票，约占该ETF的0.0813%。</blockquote></p><p> Trimble shares closed 3.84% lower at $79.74 on Wednesday. It has a 52-week high of $84.86 and low of $30.87.</p><p><blockquote>Trimble 股价周三收盘下跌 3.84%，至 79.74 美元。52 周高点为 84.86 美元，低点为 30.87 美元。</blockquote></p><p> <b>Palantir Technologies Inc</b>PLTR 1.57%: Bought 1,045,600 shares of the big data analytics company, representing about 0.1007% of the ETF.</p><p><blockquote><b>帕兰蒂尔技术公司</b>PLTR 1.57%：买入大数据分析公司1,045,600股，约占该ETF的0.1007%。</blockquote></p><p> Palantir shares closed 1.59% lower at $22.90 on Wednesday and rose 1.05% in the after-hours. It has a 52-week high of $45 and low of $8.90.</p><p><blockquote>Palantir 股价周三收盘下跌 1.59%，至 22.90 美元，盘后上涨 1.05%。52 周高点为 45 美元，低点为 8.90 美元。</blockquote></p><p> <b>Docusign Inc</b>DOCU: Bought 103,783 shares of the online signature services company, representing about 0.0891% of the ETF.</p><p><blockquote><b>Docusign公司</b>DOCU：购买了在线签名服务公司103,783股股票，约占该ETF的0.0891%。</blockquote></p><p> Docusign shares closed flat at $205.71 on Wednesday and were up 0.63% in after-hours trading. The stock has a 52-week high of $290.23 and low of $85.84.</p><p><blockquote>Docusign 股价周三收于 205.71 美元，盘后交易中上涨 0.63%。该股52周高点290.23美元，低点85.84美元。</blockquote></p><p> <b>DraftKings Inc</b>DKNG 2.68%: Bought 610,847 shares of the daily fantasy sports company, representing about 0.1595% of the ETF.</p><p><blockquote><b>DraftKings公司</b>DKNG 2.68%：买入每日幻想体育公司610,847股，约占该ETF的0.1595%。</blockquote></p><p> DraftKings shares closed 2.68% lower at $62.09 on Wednesday and were up 0.64% in the after-hours. It has a 52-week high of $74.38 and low of $12.68.</p><p><blockquote>DraftKings 股价周三收盘下跌 2.68%，至 62.09 美元，盘后上涨 0.64%。52 周高点为 74.38 美元，低点为 12.68 美元。</blockquote></p><p> Trades for<b>ARK Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ):</p><p><blockquote>交易<b>方舟自主技术与机器人 ETF</b>（蝙蝠：ARKQ）：</blockquote></p><p> <b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 71,635 shares of the blank check company, representing about 0.0214% of the ETF.</p><p><blockquote><b>阿特拉斯克雷斯特投资公司</b>ACIC 1.35%：买入空白支票公司71,635股，约占该ETF的0.0214%。</blockquote></p><p> Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p><p><blockquote>Atlas Crest 股价周三收盘下跌 1.57%，至 10.06 美元，盘后交易中上涨 1.89%。该股52周高点18.60美元，低点9.73美元。</blockquote></p><p> <b>Alphabet Inc</b>GOOGL 1.35%GOOG 1.12%: Sold 16,651 Class C shares of the Google parent company, representing about 1.10% of the ETF.</p><p><blockquote><b>Alphabet公司</b>GOOGL 1.35%GOOG 1.12%：出售谷歌母公司 16,651 股 C 类股票，约占该 ETF 的 1.10%。</blockquote></p><p> Alphabet shares closed 1.35% higher at $2239.03 on Wednesday and were up 0.40% in the after-hours. The stock has a 52-week high of $2,244.50 and low of $1,177.25.</p><p><blockquote>Alphabet股价周三收盘上涨 1.35%，至 2239.03 美元，盘后上涨 0.40%。该股52周高点2,244.50美元，低点1,177.25美元。</blockquote></p><p> <b>Iridium Communications Inc</b>IRDM 2.05%: Bought 59,521 shares of the mobile<b>satellite communications</b>services, representing about 0.0705% of the ETF.</p><p><blockquote><b>铱星通信公司</b>IRDM 2.05%：购买 59,521 股移动设备股票<b>卫星通信</b>服务，约占ETF的0.0705%。</blockquote></p><p> Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p><p><blockquote>铱星股价收盘下跌 2.05%，至 40.07 美元，盘后交易中上涨 1.07%。该股52周高点54.65美元，低点19.18美元。</blockquote></p><p> <b>Kratos Defense &amp; Security Solutions</b>KTOS 2.34%: Bought 313,506 shares of the U.S. defense contractor and security systems integrator company, representing about 0.2583% of the company.</p><p><blockquote><b>奎托斯国防与安全解决方案</b>KTOS 2.34%：购买了美国国防承包商和安全系统集成商公司313,506股股票，约占该公司0.2583%。</blockquote></p><p> Kratos Defense shares closed 2.34% lower at $27.97 on Wednesday and were up 1.07% in the after-hours. The stock has a 52-week high of $34.11 and low of $13.34.</p><p><blockquote>Kratos Defense 股价周三收盘下跌 2.34%，至 27.97 美元，盘后上涨 1.07%。该股52周高点34.11美元，低点13.34美元。</blockquote></p><p> <b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 97,700 shares in the semiconductor manufacturing and design company, representing about 0.3467% of the ETF.</p><p><blockquote><b>台积电制造公司。共</b>TSM 2.06%：出售这家半导体制造和设计公司股票97,700股，约占该ETF的0.3467%。</blockquote></p><p> Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p><p><blockquote>台积电股价周三收盘下跌 2.08%，至 119.89 美元。52周高点为142.20美元，低点为47.72美元。</blockquote></p><p> <b>Teradyne Inc</b>TER 0.45%: Sold 98,161 shares of the equipment design and manufacturing company, representing about 0.3802% of the ETF.</p><p><blockquote><b>泰瑞达公司</b>TER 0.45%：卖出98,161股设备设计制造公司股票，约占该ETF的0.3802%。</blockquote></p><p> Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p><p><blockquote>泰瑞达股价收盘下跌 0.45%，至 131.78 美元。该股52周高点147.90美元，低点56.42美元。</blockquote></p><p> <b>Deere &amp; Co</b>DE 0.28%: Sold 37,795 shares of the agriculture, construction and forestry equipment maker, representing about 0.4162% of the ETF.</p><p><blockquote><b>Deere公司</b>DE 0.28%：出售37,795股农业、建筑和林业设备制造商股票，约占该ETF的0.4162%。</blockquote></p><p> Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p><p><blockquote>Deere股价收盘下跌 0.22%，至 374.79 美元。该股52周高点392.42美元，低点117.85美元。</blockquote></p><p> <b>Caterpillar Inc</b>CAT 0.11%: Sold 59,610 shares of the agriculture, construction, mining and forestry equipment maker, representing about 0.4051% of the ETF.</p><p><blockquote><b>卡特彼勒公司</b>CAT 0.11%：出售59,610股农业、建筑、采矿和林业设备制造商股票，约占该ETF的0.4051%。</blockquote></p><p> Caterpillar shares closed 0.1% lower at $230.41.The stock has a 52-week high of $237.78 and low of $100.22.</p><p><blockquote>卡特彼勒股价收盘下跌 0.1%，至 230.41 美元。该股52周高点237.78美元，低点100.22美元。</blockquote></p><p> Trades For<b>ARK Next Generation Internet ETF</b>ARKW 1.62%</p><p><blockquote>交易<b>方舟下一代互联网ETF</b>ARKW 1.62%</blockquote></p><p> <b>Trade Desk Inc</b>TTD 1.23%: Bought 23,750 shares of the technology platform for ad buyers company, representing about 0.23% of the ETF.</p><p><blockquote><b>贸易服务台公司</b>TTD 1.23%：为广告买家公司购买了23,750股技术平台股票，约占该ETF的0.23%。</blockquote></p><p> Trade Desk shares closed 1.23% higher at $677.87 on Wednesday and were up 0.31% in after-hours. It has a 52-week high of $972.80 and low of $190.29.</p><p><blockquote>Trade Desk 股价周三收盘上涨 1.23%，至 677.87 美元，盘后上涨 0.31%。52 周高点为 972.80 美元，低点为 190.29 美元。</blockquote></p><p> <b>LendingClub Corp</b>LC 0.95%: Bought 150,245 shares of the peer-to-peer lending company, representing about 0.0337% of the ETF.</p><p><blockquote><b>贷款俱乐部公司</b>LC 0.95%：买入P2P借贷公司150,245股，约占该ETF的0.0337%。</blockquote></p><p></p><p> LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p><p><blockquote>LendingClub 股价周三收盘下跌 0.88%，至 15.7 美元。52 周高点为 22.68 美元，低点为 4.32 美元。</blockquote></p><p> <b>Synopsys Inc</b>SNPS 0.14%: Sold 70,396 shares of the electronic design automation company, representing about 0.2588% of the ETF.</p><p><blockquote><b>新思科技公司</b>SNPS 0.14%：卖出电子设计自动化公司股票70,396股，约占该ETF的0.2588%。</blockquote></p><p> Synopsys shares closed 0.14% lower at $257 on Wednesday. It has a 52-week high of $300.91 and low of $133.27.</p><p><blockquote>Synopsys 股价周三收盘下跌 0.14%，至 257 美元。52 周高点为 300.91 美元，低点为 133.27 美元。</blockquote></p><p> <b>LendingTree Inc</b>TREE 5.34%: Sold 12,129 shares of the online lending marketplace company, representing about 0.0406% of the ETF.</p><p><blockquote><b>贷款树公司</b>TREE 5.34%：出售12,129股在线借贷市场公司股票，约占该ETF的0.0406%。</blockquote></p><p> LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</p><p><blockquote>LendingTree 股价周三收盘上涨 5.34%，至 229.26 美元。52 周高点为 372.64 美元，低点为 175 美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112389819","content_text":"Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm's ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 35 stocks that the hedge fund bought and sold on Wednesday.\nTrades ForArkSpace Exploration & Innovation ETFARKX 1.32%:\nAtlas Crest Investment CorpACIC 1.35%: Bought 141,100 shares of the blank check company, representing about 0.2503% of the ETF.\nAtlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.\nJaws Spitfire Acquisition CorpSPFR 0.38%: Bought 241,618 shares of the blank check company, representing about 0.4389% of the ETF.\nJaws stock closed 0.3% higher at $10.46 on Wednesday and rose 1.91% in the after-hours. It has a 52-week high of $12.10 and low of $9.95.\nIridium Communications IncIRDM 2.05%: Bought 35,963 shares of the mobilesatellite communicationsservices, representing about 0.2525% of the ETF.\nSee Also:The First 39 Companies In Cathie Wood's Ark Invest Space ETF\nIridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.\nReinvent Technology PartnersRTP 0.2%: Bought 140,900 shares of the blank-check company, representing 0.2496% of the ETF.\nReinvent shares closed 0.39% lower at $10.11 and were up 1% in after-hours trading. The stock has a 52-week high of $17 and low of $9.86.\nTeradyne IncTER 0.45%: Sold 11,302 shares of the equipment design and manufacturing company, representing about 0.259% of the ETF.\nTeradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.\nDeere & CoDE 0.28%: Sold 7,781 shares of the agriculture, construction and forestry equipment maker, representing about 0.5072% of the ETF.\nDeere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.\nAeroVironment IncAVAV 3.44%: Sold 5,100 shares in the California-headquartered defense contractor, representing about 0.10% of the ETF.\nAeroVironment stock closed 3.44% lower at $113.37 on Wednesday. It has a 52-week high of $143.72 and low of $53.15.\nTaiwan Semiconductor Mfg. CoTSM 2.06%: Sold 28,749 shares in the semiconductor manufacturing and design company, representing about 0.603% of the ETF.\nTaiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.\nTrades ForArk Fintech Innovation ETFARKF 1.24%:\nBase IncBAINF 0.97%: Bought 313,000 shares in Tokyo of the online services company that develops and builds e-commerce platforms, representing about 0.1195% of the ETF.\nBase OTC stock closed 0.97% higher at $15.65 on Wednesday. It has a 52-week high of $179 and low of $14.61.\nYeahka LtdYHEKF: Bought 997,200 shares in Hong Kong of the payment-based technology platform, representing about 0.18% of the ETF.\nYeahka stock closed 0.64% lower at $7.75 on Wednesday. It has a 52-week high of $15.28 and low of $4.78.\nLendingClub CorpLC 0.95%: Bought 204,348 shares of the peer-to-peer lending company, representing about 0.0789% of the ETF.\nLendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.\nLendingTree IncTREE 5.34%: Sold 15,762 shares of the online lending marketplace company, representing about 0.0824% of the ETF.\nLendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.\nTrades ForArk Genomic Revolution ETFARKG 3.26%:\n10X Genomics IncTXG 6.03%: Bought 78,908 shares of the gene sequencing biotechnology company, representing about 0.1526% of the ETF.\n10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.\nSignify Health IncSGFY 3.65%: Bought 182,193 shares of the healthcare tech company, representing about 0.0508% of the ETF.\nSignify shares closed 4.08% lower at $26.35 on Wednesday and were up 0.53% in after-hours. It has a 52-week high of $40.79 and low of $22.13.\nRepare Therapeutics IncRPTX 0.78%: Bought 10,700 shares of the Canadian oncology company, representing about 0.0035% of the ETF.\nRepare stock closed 0.78% higher at $30.96 on Wednesday. It has a 52-week high of $46.44 and low of $21.45.\n908 Devices IncMASS 6.18%: Bought 51,661 shares of the purpose-built handheld and devices for chemical and biomolecular analysis maker, representing about 0.0273% of the ETF.\n908 Devices stock closed 6.18% lower at $46.95 on Wednesday. It has a 52-week high of $79.60 and low of $38.88.\nPluristem Therapeutics IncPSTI 2.09%: Sold 2,220 shares of the Israel-based stemcell company, representing about 0.0001% of the ETF.\nPluristem stock closed 2.09% higher at $4.89 on Wednesday. It has a 52-week high of $13.29 and low of $3.95.\nTrades ForArkInnovation ETFARKK 2.33%:\nZoom Video Communications IncZM 2.03%: Bought 98,500 shares of the video calling company, representing about 0.1326% of the ETF.\nZoom stock closed 2.03% lower at $323.08 on Wednesday. It has a 52-week high of $588.84 and low of $109.57.\n10X Genomics IncTXG 6.03%: Bought 111,047 shares of the gene sequencing biotechnology company, representing about 0.0865% of the ETF.\n10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.\nTrimble IncTRMB 3.84%: Bought 237,782 shares of the California-based hardware, software and services technology company, representing about 0.0813% of the ETF.\nTrimble shares closed 3.84% lower at $79.74 on Wednesday. It has a 52-week high of $84.86 and low of $30.87.\nPalantir Technologies IncPLTR 1.57%: Bought 1,045,600 shares of the big data analytics company, representing about 0.1007% of the ETF.\nPalantir shares closed 1.59% lower at $22.90 on Wednesday and rose 1.05% in the after-hours. It has a 52-week high of $45 and low of $8.90.\nDocusign IncDOCU: Bought 103,783 shares of the online signature services company, representing about 0.0891% of the ETF.\nDocusign shares closed flat at $205.71 on Wednesday and were up 0.63% in after-hours trading. The stock has a 52-week high of $290.23 and low of $85.84.\nDraftKings IncDKNG 2.68%: Bought 610,847 shares of the daily fantasy sports company, representing about 0.1595% of the ETF.\nDraftKings shares closed 2.68% lower at $62.09 on Wednesday and were up 0.64% in the after-hours. It has a 52-week high of $74.38 and low of $12.68.\nTrades forARK Autonomous Technology & Robotics ETF(BATS:ARKQ):\nAtlas Crest Investment CorpACIC 1.35%: Bought 71,635 shares of the blank check company, representing about 0.0214% of the ETF.\nAtlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.\nAlphabet IncGOOGL 1.35%GOOG 1.12%: Sold 16,651 Class C shares of the Google parent company, representing about 1.10% of the ETF.\nAlphabet shares closed 1.35% higher at $2239.03 on Wednesday and were up 0.40% in the after-hours. The stock has a 52-week high of $2,244.50 and low of $1,177.25.\nIridium Communications IncIRDM 2.05%: Bought 59,521 shares of the mobilesatellite communicationsservices, representing about 0.0705% of the ETF.\nIridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.\nKratos Defense & Security SolutionsKTOS 2.34%: Bought 313,506 shares of the U.S. defense contractor and security systems integrator company, representing about 0.2583% of the company.\nKratos Defense shares closed 2.34% lower at $27.97 on Wednesday and were up 1.07% in the after-hours. The stock has a 52-week high of $34.11 and low of $13.34.\nTaiwan Semiconductor Mfg. CoTSM 2.06%: Sold 97,700 shares in the semiconductor manufacturing and design company, representing about 0.3467% of the ETF.\nTaiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.\nTeradyne IncTER 0.45%: Sold 98,161 shares of the equipment design and manufacturing company, representing about 0.3802% of the ETF.\nTeradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.\nDeere & CoDE 0.28%: Sold 37,795 shares of the agriculture, construction and forestry equipment maker, representing about 0.4162% of the ETF.\nDeere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.\nCaterpillar IncCAT 0.11%: Sold 59,610 shares of the agriculture, construction, mining and forestry equipment maker, representing about 0.4051% of the ETF.\nCaterpillar shares closed 0.1% lower at $230.41.The stock has a 52-week high of $237.78 and low of $100.22.\nTrades ForARK Next Generation Internet ETFARKW 1.62%\nTrade Desk IncTTD 1.23%: Bought 23,750 shares of the technology platform for ad buyers company, representing about 0.23% of the ETF.\nTrade Desk shares closed 1.23% higher at $677.87 on Wednesday and were up 0.31% in after-hours. It has a 52-week high of $972.80 and low of $190.29.\nLendingClub CorpLC 0.95%: Bought 150,245 shares of the peer-to-peer lending company, representing about 0.0337% of the ETF.\nLendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.\nSynopsys IncSNPS 0.14%: Sold 70,396 shares of the electronic design automation company, representing about 0.2588% of the ETF.\nSynopsys shares closed 0.14% lower at $257 on Wednesday. It has a 52-week high of $300.91 and low of $133.27.\nLendingTree IncTREE 5.34%: Sold 12,129 shares of the online lending marketplace company, representing about 0.0406% of the ETF.\nLendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352897098,"gmtCreate":1616922309114,"gmtModify":1634523520035,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Help reply pls","listText":"Help reply pls","text":"Help reply pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/352897098","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://www.laohunote.com/m/news/1141686975?lang=zh_CN&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading<blockquote>知乎科技首日交易下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股 8.02 美元，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，公司估值约为 53 亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们估计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年增加到31.5%，在2025年增加到37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>截至2020年底，知乎累计拥有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 2020 年 2.07 亿美元的销售额，这将表明隐含估值为 75 亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿条问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周源拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>主要人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户群的52.6%。知乎的很多用户都是学生和白领职场人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年推出付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，平均每月会员人数同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它展示了高质量的数据和内容如何产生大量的收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一大积极因素是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容社区市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国付费会员市场规模（按收入计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供集成的内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国内容商务解决方案市场规模（按收入计），2015-2025E</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zhihu Technology fall on its first day of trading<blockquote>知乎科技首日交易下跌</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading<blockquote>知乎科技首日交易下跌</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-03-27 01:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><blockquote>知乎科技股价周五开盘价为每股 8.02 美元，比公司 9.5 美元的 IPO 价格低约 15.6%。知乎的 IPO 价格处于区间的低端，公司估值约为 53 亿美元。</blockquote></p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p><blockquote>知乎公司周五公布了首次公开募股的定价，为每股美国存托股9.50美元，处于预期范围的低端。这家总部位于中国的在线内容公司在IPO中提供了5500万份广告，筹集了5.225亿美元，而定价对该公司的估值约为53.1亿美元。</blockquote></p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><blockquote>知乎有一个类似于Quora的商业模式，数百万人提出问题，交流他们的观点和经验。知乎已经成为中国最大的在线问答社区。</blockquote></p><p><b>Sales Breakdown</b></p><p><blockquote><b>销售明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。我们预计广告占收入的百分比将在未来五年逐渐下降，因为它被更快增长的付费会员和内容商务解决方案所抵消。我们估计广告占销售额的百分比将在2021年下降至34.1%，在2025年下降至22.3%。</blockquote></p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。我们假设付费会员收入占总收入的百分比将在2021年增加到31.5%，在2025年增加到37.8%。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划。我们假设内容商务解决方案占总收入的百分比将从2020年的10%跃升至2021年的17.8%和2025年的32.3%。</blockquote></p><p><b>Gross Margins</b></p><p><blockquote><b>毛利率</b></blockquote></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><blockquote>在业务可扩展性整体提升的推动下，公司毛利率由2019年的46.6%提升至2020年的56.0%。我们假设毛利率将进一步提高至2021年的57.4%和2025年的62.3%。</blockquote></p><p><b>Total Operating Expenses and Operating Margins</b></p><p><blockquote><b>总营业费用及营业利润率</b></blockquote></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><blockquote>总营运开支占收入的百分比由二零一九年的204.4%大幅下降至二零二零年的100.6%。我们预计这一比率将在2021年进一步提高至79%，2022年达到69.2%，2025年达到57.2%。运营费用的大部分改善来自于未来五年SG&amp;A和R&amp;D费用占收入百分比的降低。</blockquote></p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Company Background</b></p><p><blockquote><b>公司背景</b></blockquote></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p><blockquote>截至2020年底，知乎累计拥有超过4310万内容创作者，贡献了3.15亿个问答。2020年第四季度，该公司平均月活跃用户7570万，同比增长33%。该公司的主要优势之一是它被公认为最值得信赖的在线内容社区之一，并被认为提供中国最高质量的内容之一。知乎试图利用其庞大的用户群提供众多多媒体功能，包括直播、电子商务、在线教育和其他视频内容。</blockquote></p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p><blockquote>2019年8月，知乎从百度和快手科技等领先投资者那里获得了4.34亿美元的资金，公司估值为35亿美元。鉴于该公司2019年的销售额为9700万美元，这意味着市盈率为36倍。如果我们将相同的市盈率应用于该公司 2020 年 2.07 亿美元的销售额，这将表明隐含估值为 75 亿美元。</blockquote></p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><blockquote>知乎最初开发于2010年，是一个问答在线社区。截至2020年底，共有3.15亿条问答，涵盖1000多个垂直领域和57.1万个主题。就2020年的平均移动MAU和收入而言，知乎是中国五大综合在线内容社区之一。该公司使用人工智能、云和大数据算法来提高其内容和服务的优化。</blockquote></p><p><b>Major Shareholders of Zhihu</b></p><p><blockquote><b>知乎主要股东</b></blockquote></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><blockquote>创始人兼首席执行官周源拥有该公司8.2%的股份（但拥有46.6%的投票权）。创新工场拥有知乎13.1%的股份，腾讯控股控股有限公司拥有知乎12.3%的股份。</blockquote></p><p><b>Key Demographics</b></p><p><blockquote><b>主要人口统计</b></blockquote></p><p></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><blockquote>下图提供了知乎用户群的一些关键人口统计数据。男性占用户总数的56.9%。30岁以下的人占其总用户群的78.7%。一线及新一线城市占总用户群的52.6%。知乎的很多用户都是学生和白领职场人士。</blockquote></p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Revenue Breakdown</b></p><p><blockquote><b>收入明细</b></blockquote></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p><blockquote>广告和付费会员占该公司收入的最大部分。于二零一九年及二零二零年，广告分别占总收入的86.1%及62.4%。本公司的广告收入主要由其每月活跃用户及每月活跃用户的广告收入推动。2020年，该公司的MAU同比增长42.7%至6850万。该公司于2016年开始在线广告业务，并于2018年推出付费内容。</blockquote></p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p><blockquote>付费会员占2019年总收入的13.1%，2020年增至总收入的23.7%。2020年，平均每月会员人数同比增长311.5%至236万，这证明越来越多的客户重视知乎上的优质内容。</blockquote></p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p><blockquote>2019年3月，该公司推出了Yan Selection会员计划，使其成为第一个基于付费的问答社区。它为会员提供了无限制访问约340万个付费内容的机会，包括在线讲座、专栏、有声读物和电子期刊。这是该公司最大的优势之一，因为它展示了高质量的数据和内容如何产生大量的收入，并且还提供了更稳定的每月收入流入。</blockquote></p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p><blockquote>内容商务解决方案和其他销售额在2020年也大幅增长。内容商务解决方案收入由2019年的人民币60万元跃升至2020年的人民币1.358亿元。2020年初，该公司推出了内容商务解决方案，为商家和品牌提供一站式服务，满足他们所有的销售和营销需求，包括营销计划、将最相关的内容创作者分配给感兴趣的用户以及促进内容创作。</blockquote></p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><blockquote>中国的内容商务解决方案市场预计将是未来几年增长最快的行业之一。根据灼识谘询，预计2019年至2025年，中国内容商务解决方案市场将实现46.4%的强劲复合年增长率（1,123亿元人民币）。</blockquote></p><p><b>Market Opportunities</b></p><p><blockquote><b>市场机会</b></blockquote></p><p><b>China’s Online Content Communities Market Size</b></p><p><blockquote><b>中国在线内容社区市场规模</b></blockquote></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p><blockquote>在线内容社区是指以UGC（用户生成内容）为中心的（包括PUGC（专业用户生成内容）为中心的在线内容市场参与者，其中内容创建者也是用户，他们在社区内积极参与。与PGC（专业生成内容）玩家相比，内容社区通常可以刺激更高水平的用户参与、更多交互式的用户体验，并享受更低的内容成本。PGC是由品牌公司或组织创建的内容。</blockquote></p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p><blockquote>中国在线内容社区市场规模由二零一五年的386亿元人民币增长至二零一九年的2758亿元人民币，预计二零二五年将进一步增长至1.3万亿元人民币，二零一九年至二零二五年的复合年增长率为30.3%，高于整体在线内容市场的增长。</blockquote></p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p><blockquote>中国在线内容社区市场拥有更多元化的变现渠道，包括在线广告、付费会员、内容电子商务、内容商务解决方案、直播中的虚拟礼物、网络游戏和在线教育服务。相比之下，美国在线内容社区的变现主要是通过广告。</blockquote></p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><blockquote>该公司的一大积极因素是越来越多的中国消费者愿意为更高质量的内容付费。2019 年至 2025 年间，中国在线内容社区的付费用户数量预计将以 17.1% 的复合年增长率增长，这意味着到 2025 年，在线内容社区的付费用户数量将增加 3.604 亿，达到 5.882 亿。</blockquote></p><p><b>China's Online Content Market</b></p><p><blockquote><b>中国网络内容市场</b></blockquote></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><blockquote>中国在线内容市场从2015年增长了两倍，到2019年达到1.2万亿元人民币。该市场预计将于2025年增长至3.7万亿元人民币，2019年至2025年的复合年增长率为21.4%。</blockquote></p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><blockquote><b>2015-2025年中国在线内容社区市场规模（按收入计）</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>2015-2025年中国付费会员市场规模（按收入计）</b></blockquote></p><p></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>Content-commerce solutions</b></p><p><blockquote><b>内容商务解决方案</b></blockquote></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><blockquote>为了提供整合营销服务，在线内容社区为内容创建、内容分发和内容转换提供内容商务解决方案。该公司提供集成的内容商务解决方案，为商家和品牌的所有销售和营销需求提供一站式服务，从制定营销计划、促进内容创作、分配最相关的内容创作者，到分发给感兴趣的用户。中国内容商务解决方案市场预计将从2019年的114亿元人民币增长至2025年的1123亿元人民币，复合年增长率为46.4%。</blockquote></p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><blockquote><b>中国内容商务解决方案市场规模（按收入计），2015-2025E</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":568,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":351521095,"gmtCreate":1616605518317,"gmtModify":1634524942380,"author":{"id":"3574905837621452","authorId":"3574905837621452","name":"Jonk","avatar":"https://static.tigerbbs.com/0a229a31e5e9c062fc4043aeb080b53e","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574905837621452","authorIdStr":"3574905837621452"},"themes":[],"title":"","htmlText":"Banks might to out soon","listText":"Banks might to out soon","text":"Banks might to out soon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/351521095","repostId":"2121464703","repostType":4,"isVote":1,"tweetType":1,"viewCount":505,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}