651dc410的个人主页 - 老虎社区

651dc410

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2021-06-18

How

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2021-06-18

Nice

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2021-06-18

Wow

Cruise operator Carnival discloses personal data breach, shares down<blockquote>邮轮运营商嘉年华披露个人数据泄露，股价下跌</blockquote>

2021-06-14

Good

抱歉，原内容已删除

2021-06-13

Wow

AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>

2021-06-13

Good

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2021-04-14

TTM

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2021-03-02

Meat

Beyond Meat Prepares for a High-Growth Phase<blockquote>Beyond Meat为高增长阶段做准备</blockquote>

2021-03-01

Pls

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2021-03-01

Bad

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2021-02-26

Appl pls

Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>

2021-02-23

Cmon

After the GameStop fiasco, momentum builds for an $800 billion tax<blockquote>游戏驿站惨败后，8000亿美元税收势头增强</blockquote>

2021-02-22

Good good

GameStop Craze Puts Holders of Retail ETF on Wild Ride<blockquote>游戏驿站热潮让零售ETF持有者陷入疯狂</blockquote>

2021-02-20

$Tiger Brokers(TIGR)$so happy

2021-02-19

$Tiger Brokers(TIGR)$tiger out of cage

2021-02-19

FLY TIGER

去老虎APP查看更多动态

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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1623971266,"share":"https://www.laohu8.com/m/news/1108637837?lang=zh_CN&edition=full","pubTime":"2021-06-18 07:07","market":"us","language":"en","title":"Cruise operator Carnival discloses personal data breach, shares down<blockquote>邮轮运营商嘉年华披露个人数据泄露，股价下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1108637837","media":"Tiger Newspress","summary":"Cruise operator Carnival Corp said on Thursday it had detected unauthorized access to its computer s","content":"<p>Cruise operator Carnival Corp&nbsp;said on Thursday it had detected unauthorized access to its computer systems in March, after which it alerted regulators and hired a cybersecurity firm to investigate the breach.</p><p><blockquote>邮轮运营商嘉年华公司周四表示，它在3月份发现了对其计算机系统的未经授权的访问，之后它向监管机构发出了警报，并聘请了一家网络安全公司来调查这一违规行为。</blockquote></p><p> The company, whose shares were down over 2%, noticed the suspicious activity on March 19 and acted quickly to \"to shut down the event and prevent further unauthorized access\", it said in an emailed statement.</p><p><blockquote>该公司在一份电子邮件声明中表示，该公司股价下跌超过2%，于3月19日注意到这一可疑活动，并迅速采取行动“关闭该活动并防止进一步未经授权的访问”。</blockquote></p><p> The breach affected personal information of some guests, employees and crew for Carnival Cruise Line, Holland America Line, Princess Cruises and medical operations, Carnival said.</p><p><blockquote>嘉年华表示，此次泄露影响了嘉年华邮轮公司、荷美邮轮公司、公主邮轮公司和医疗业务的一些客人、员工和船员的个人信息。</blockquote></p><p> \"There is evidence indicating a low likelihood of the data being misused,\" the company added.</p><p><blockquote>该公司补充说：“有证据表明数据被滥用的可能性很低。”</blockquote></p><p> Miami-based Carnival also said it alerted individuals whose data had been compromised and set up a call center to respond to their queries.</p><p><blockquote>总部位于迈阿密的嘉年华还表示，它向数据被泄露的个人发出了警报，并建立了一个看涨期权中心来回应他们的询问。</blockquote></p><p> Technology news portal Bleeping Computer first reported the breach.</p><p><blockquote>科技新闻门户网站Bleeping Computer首先报告了这一漏洞。</blockquote></p><p> The disclosure from the company comes at a time United States has witnessed a spate of increasingly bold cyberattacks on critical infrastructure.</p><p><blockquote>该公司披露这一消息之际，美国目睹了一系列针对关键基础设施的日益大胆的网络攻击。</blockquote></p><p> A ransomware attack on Colonial Pipeline last month temporarily stalled one of the country's major arteries for fuel delivery. Meatpacker JBS USA's operations were disrupted earlier this month due to a cyberattack.</p><p><blockquote>上个月对Colonial Pipeline的勒索软件攻击暂时中断了该国燃料输送的主要动脉之一。肉类加工商JBS USA的运营本月早些时候因网络攻击而中断。</blockquote></p><p> Carnival was also hit by a ransomware attack last year, which affected the information technology systems of one of its brands.</p><p><blockquote>嘉年华去年也遭受了勒索软件攻击，影响了其一个品牌的信息技术系统。</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>Cruise operator Carnival discloses personal data breach, shares down<blockquote>邮轮运营商嘉年华披露个人数据泄露，股价下跌</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCruise operator Carnival discloses personal data breach, shares down<blockquote>邮轮运营商嘉年华披露个人数据泄露，股价下跌</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\">2021-06-18 07:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Cruise operator Carnival Corp&nbsp;said on Thursday it had detected unauthorized access to its computer systems in March, after which it alerted regulators and hired a cybersecurity firm to investigate the breach.</p><p><blockquote>邮轮运营商嘉年华公司周四表示，它在3月份发现了对其计算机系统的未经授权的访问，之后它向监管机构发出了警报，并聘请了一家网络安全公司来调查这一违规行为。</blockquote></p><p> The company, whose shares were down over 2%, noticed the suspicious activity on March 19 and acted quickly to \"to shut down the event and prevent further unauthorized access\", it said in an emailed statement.</p><p><blockquote>该公司在一份电子邮件声明中表示，该公司股价下跌超过2%，于3月19日注意到这一可疑活动，并迅速采取行动“关闭该活动并防止进一步未经授权的访问”。</blockquote></p><p> The breach affected personal information of some guests, employees and crew for Carnival Cruise Line, Holland America Line, Princess Cruises and medical operations, Carnival said.</p><p><blockquote>嘉年华表示，此次泄露影响了嘉年华邮轮公司、荷美邮轮公司、公主邮轮公司和医疗业务的一些客人、员工和船员的个人信息。</blockquote></p><p> \"There is evidence indicating a low likelihood of the data being misused,\" the company added.</p><p><blockquote>该公司补充说：“有证据表明数据被滥用的可能性很低。”</blockquote></p><p> Miami-based Carnival also said it alerted individuals whose data had been compromised and set up a call center to respond to their queries.</p><p><blockquote>总部位于迈阿密的嘉年华还表示，它向数据被泄露的个人发出了警报，并建立了一个看涨期权中心来回应他们的询问。</blockquote></p><p> Technology news portal Bleeping Computer first reported the breach.</p><p><blockquote>科技新闻门户网站Bleeping Computer首先报告了这一漏洞。</blockquote></p><p> The disclosure from the company comes at a time United States has witnessed a spate of increasingly bold cyberattacks on critical infrastructure.</p><p><blockquote>该公司披露这一消息之际，美国目睹了一系列针对关键基础设施的日益大胆的网络攻击。</blockquote></p><p> A ransomware attack on Colonial Pipeline last month temporarily stalled one of the country's major arteries for fuel delivery. Meatpacker JBS USA's operations were disrupted earlier this month due to a cyberattack.</p><p><blockquote>上个月对Colonial Pipeline的勒索软件攻击暂时中断了该国燃料输送的主要动脉之一。肉类加工商JBS USA的运营本月早些时候因网络攻击而中断。</blockquote></p><p> Carnival was also hit by a ransomware attack last year, which affected the information technology systems of one of its brands.</p><p><blockquote>嘉年华去年也遭受了勒索软件攻击，影响了其一个品牌的信息技术系统。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CCL":"嘉年华邮轮"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108637837","content_text":"Cruise operator Carnival Corp said on Thursday it had detected unauthorized access to its computer systems in March, after which it alerted regulators and hired a cybersecurity firm to investigate the breach.\nThe company, whose shares were down over 2%, noticed the suspicious activity on March 19 and acted quickly to \"to shut down the event and prevent further unauthorized access\", it said in an emailed statement.\nThe breach affected personal information of some guests, employees and crew for Carnival Cruise Line, Holland America Line, Princess Cruises and medical operations, Carnival said.\n\"There is evidence indicating a low likelihood of the data being misused,\" the company added.\nMiami-based Carnival also said it alerted individuals whose data had been compromised and set up a call center to respond to their queries.\nTechnology news portal Bleeping Computer first reported the breach.\nThe disclosure from the company comes at a time United States has witnessed a spate of increasingly bold cyberattacks on critical infrastructure.\nA ransomware attack on Colonial Pipeline last month temporarily stalled one of the country's major arteries for fuel delivery. Meatpacker JBS USA's operations were disrupted earlier this month due to a cyberattack.\nCarnival was also hit by a ransomware attack last year, which affected the information technology systems of one of its brands.","news_type":1,"symbols_score_info":{"CCL":0.9}},"isVote":1,"tweetType":1,"viewCount":1096,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185917245,"gmtCreate":1623630417387,"gmtModify":1634031042010,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/185917245","repostId":"1146430910","repostType":4,"isVote":1,"tweetType":1,"viewCount":3281,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182581188,"gmtCreate":1623588995844,"gmtModify":1634031386706,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182581188","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://www.laohu8.com/m/news/1104635261?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital的亏损显示了投资模因股票的风险。</b>本月，对AMC Entertainment HoldingsINC.AMC 15.39%的多管齐下的押注在Mudrick Capital Management LP上适得其反，Mudrick Capital Management LP是最新一家成为大量日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约10%，因为AMC股价的上涨意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助GameStopCorp.GME5.88%和其他股票的价格在1月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。Mudrick Capital的损失凸显了保留对此类公司的大量投资的风险有多大，甚至会对一位与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的影响。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森·穆德里克(Jason Mudrick)几个月来一直在交易AMC股票、期权和债券，个人投资者对这家连锁影院的热情高涨。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金在股价下跌时对AMC的敞口。知情人士称，这些衍生品合约赋予买家未来以大约40美元的价格从Mudrick购买AMC股票的权利，但当Reddit推动的购买热潮最近将AMC股票推至新纪录时，这些衍生品合约就变成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的AMC战略的一部分，Mudrick Capital的高管正在与AMC就购买该公司的额外股票进行谈判。6月1日，AMC披露，Mudrick Capital已同意以每股27.12美元的价格直接从该公司购买2.305亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了该股票并获利，彭博新闻报道了这一快速抛售，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6月1日，Reddit华尔街博彩论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀……他们是搬起石头砸自己的脚。”当时的其他帖子称穆德里克为“失败者”、“人渣”和“一大堆没有未来的挥舞着的S-T”。论坛成员互相催促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>随着AMC反弹势头增强，穆德里克内部的高管们越来越感到担忧。该公司的风险委员会于6月1日晚在该股收于32美元后召开会议，并决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6月2日，AMC股价在几个小时内突破40美元，触及72.62美元的盘中高点。在穆德里克资本促成的疯狂交易中，看涨期权期权价格飙升，到本周末，获胜的交易变成了失败，使该基金损失了数亿美元。Mudrick Capital出售的债务回报率约为5%，但考虑到期权交易后，该基金在AMC上的净亏损约为5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位知情人士表示，穆德里克的基金今年仍上涨了约12%。与此同时，年初购买AMC股票并持有的投资者已上涨约2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的决定性发展，导致顶级对冲基金损失数十亿美元，引发国会听证会并受到美国证券交易委员会的审查。更多的对冲基金现在跟踪个人投资者在社交媒体上的情绪，更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克先生专门从事不良债务投资，经常以高利率向陷入困境的公司提供贷款，或者在破产法庭上将其现有债务换成股权。Mudrick管理着全公司约35亿美元的投资，并通过此类交易所持有电子烟制造商NJOY Holdings Inc.和卫星通信公司GlobalStarInc.的大量非流动性股份。汇丰另类投资集团的数据显示，2018年至2020年，该旗舰基金的年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但由于美联储的宽松资金甚至为陷入困境的公司提供了进入债务市场的机会，因此陷入困境的投资机会变得越来越难找到。穆德里克先生还探索了其他策略，成立了几家特殊目的收购公司，就AMC而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于AMC，以低至20美分的价格购买债券，在12月向该公司借出1亿美元，并将部分债券换成新股。在Covid-19大流行封锁期间，已经面临压力的影院上座率几乎完全消失，AMC股票交易价格低至2美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将恢复对大屏幕娱乐的兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1月下旬，日内交易者首次在AMC进行了交易，在社交媒体上高呼#SaveAMC，并短暂将该股推升至20美元左右。AMC不断上涨的股票价值推高了债务价格——Mudrick Capital持有的一只债券在一周内翻了一番——很快就回报了Mudrick先生的看涨情绪。AMC利用其飙升的股价在1月底筹集了近10亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克先生出售了AMC股票的看涨期权期权，如果连锁影院确实面临问题，可以立即产生收入来抵消潜在的损失。衍生品让买家可以选择以40美元左右的价格从穆德里克资本手中购买AMC股票——当股票交易价格低于10美元时，这似乎是不太可能的。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与AMC首席执行官亚当·阿伦(Adam Aron)就提供额外资金保持联系，导致他最近购买了股票。但一位知情人士表示，作为一项保险政策，他保留了衍生品合约。</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>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</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\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-06-12 11:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital的亏损显示了投资模因股票的风险。</b>本月，对AMC Entertainment HoldingsINC.AMC 15.39%的多管齐下的押注在Mudrick Capital Management LP上适得其反，Mudrick Capital Management LP是最新一家成为大量日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约10%，因为AMC股价的上涨意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助GameStopCorp.GME5.88%和其他股票的价格在1月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。Mudrick Capital的损失凸显了保留对此类公司的大量投资的风险有多大，甚至会对一位与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的影响。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森·穆德里克(Jason Mudrick)几个月来一直在交易AMC股票、期权和债券，个人投资者对这家连锁影院的热情高涨。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金在股价下跌时对AMC的敞口。知情人士称，这些衍生品合约赋予买家未来以大约40美元的价格从Mudrick购买AMC股票的权利，但当Reddit推动的购买热潮最近将AMC股票推至新纪录时，这些衍生品合约就变成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的AMC战略的一部分，Mudrick Capital的高管正在与AMC就购买该公司的额外股票进行谈判。6月1日，AMC披露，Mudrick Capital已同意以每股27.12美元的价格直接从该公司购买2.305亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了该股票并获利，彭博新闻报道了这一快速抛售，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6月1日，Reddit华尔街博彩论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀……他们是搬起石头砸自己的脚。”当时的其他帖子称穆德里克为“失败者”、“人渣”和“一大堆没有未来的挥舞着的S-T”。论坛成员互相催促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>随着AMC反弹势头增强，穆德里克内部的高管们越来越感到担忧。该公司的风险委员会于6月1日晚在该股收于32美元后召开会议，并决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6月2日，AMC股价在几个小时内突破40美元，触及72.62美元的盘中高点。在穆德里克资本促成的疯狂交易中，看涨期权期权价格飙升，到本周末，获胜的交易变成了失败，使该基金损失了数亿美元。Mudrick Capital出售的债务回报率约为5%，但考虑到期权交易后，该基金在AMC上的净亏损约为5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位知情人士表示，穆德里克的基金今年仍上涨了约12%。与此同时，年初购买AMC股票并持有的投资者已上涨约2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的决定性发展，导致顶级对冲基金损失数十亿美元，引发国会听证会并受到美国证券交易委员会的审查。更多的对冲基金现在跟踪个人投资者在社交媒体上的情绪，更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克先生专门从事不良债务投资，经常以高利率向陷入困境的公司提供贷款，或者在破产法庭上将其现有债务换成股权。Mudrick管理着全公司约35亿美元的投资，并通过此类交易所持有电子烟制造商NJOY Holdings Inc.和卫星通信公司GlobalStarInc.的大量非流动性股份。汇丰另类投资集团的数据显示，2018年至2020年，该旗舰基金的年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但由于美联储的宽松资金甚至为陷入困境的公司提供了进入债务市场的机会，因此陷入困境的投资机会变得越来越难找到。穆德里克先生还探索了其他策略，成立了几家特殊目的收购公司，就AMC而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于AMC，以低至20美分的价格购买债券，在12月向该公司借出1亿美元，并将部分债券换成新股。在Covid-19大流行封锁期间，已经面临压力的影院上座率几乎完全消失，AMC股票交易价格低至2美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将恢复对大屏幕娱乐的兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1月下旬，日内交易者首次在AMC进行了交易，在社交媒体上高呼#SaveAMC，并短暂将该股推升至20美元左右。AMC不断上涨的股票价值推高了债务价格——Mudrick Capital持有的一只债券在一周内翻了一番——很快就回报了Mudrick先生的看涨情绪。AMC利用其飙升的股价在1月底筹集了近10亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克先生出售了AMC股票的看涨期权期权，如果连锁影院确实面临问题，可以立即产生收入来抵消潜在的损失。衍生品让买家可以选择以40美元左右的价格从穆德里克资本手中购买AMC股票——当股票交易价格低于10美元时，这似乎是不太可能的。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与AMC首席执行官亚当·阿伦(Adam Aron)就提供额外资金保持联系，导致他最近购买了股票。但一位知情人士表示，作为一项保险政策，他保留了衍生品合约。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">The Wall Street Journal</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":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182242898,"gmtCreate":1623582642914,"gmtModify":1634031433296,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182242898","repostId":"2142788912","repostType":4,"isVote":1,"tweetType":1,"viewCount":1498,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344140521,"gmtCreate":1618390527163,"gmtModify":1634293284745,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"TTM","listText":"TTM","text":"TTM","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/344140521","repostId":"2127045633","repostType":4,"isVote":1,"tweetType":1,"viewCount":1836,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365074002,"gmtCreate":1614685322606,"gmtModify":1703479827766,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Meat","listText":"Meat","text":"Meat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365074002","repostId":"1198289081","repostType":4,"repost":{"id":"1198289081","kind":"news","pubTimestamp":1614676006,"share":"https://www.laohu8.com/m/news/1198289081?lang=zh_CN&edition=full","pubTime":"2021-03-02 17:06","market":"us","language":"en","title":"Beyond Meat Prepares for a High-Growth Phase<blockquote>Beyond Meat为高增长阶段做准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198289081","media":"zacks","summary":"I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its","content":"<p>I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its shares around. Somehow, I really like the sound of “revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol.”</p><p><blockquote>我成为Beyond Meat（BYND）的粉丝已经有一段时间了，尽管疫情对其股价造成了疯狂的影响。不知何故，我真的很喜欢“革命性的植物性肉类由简单的成分制成，不含转基因生物、生物工程成分、激素、抗生素或胆固醇。”</blockquote></p><p>Everyone may not care for a meat substitute when they can have the real thing. But my feeling is that more and more people will have it at least sometimes, as a token to the environment, or out of animal love, or for health reasons. And when they do that, they might consider an offering from a popular brand name. Especially when it’s so easily available at the friendly neighborhood McDonalds (MCD Quick QuoteMCD-Free Report) . Or a KFC, or a Pizza Hut or, or a Taco Bell for that matter.</p><p><blockquote>当每个人都能拥有真正的肉类替代品时，他们可能不会喜欢肉类替代品。但我的感觉是，越来越多的人至少有时会拥有它，作为对环境的象征，或者出于对动物的热爱，或者出于健康原因。当他们这样做时，他们可能会考虑一个流行品牌的产品。尤其是当它在友好的麦当劳附近很容易买到时（MCD Quick QuoteMCD-免费报告）。或者肯德基，或者必胜客，或者塔可钟。</blockquote></p><p>So it’s important to remember that we are in unusual times. And unusual things happen in unusual times.</p><p><blockquote>所以重要的是要记住，我们正处于非常时期。不寻常的事情发生在不寻常的时候。</blockquote></p><p>And if that means that a company like Beyond Meat has to offer discounts, write off some inventory, or absorb extra costs, so be it. After all, nobody could have planned for a health crisis coming along and shutting down all the restaurants and sending people indoors for protection.</p><p><blockquote>如果这意味着像Beyond Meat这样的公司必须提供折扣、注销一些库存或吸收额外成本，那就这样吧。毕竟，没有人能预料到健康危机的到来，关闭所有的餐馆，把人们送到室内寻求保护。</blockquote></p><p>As investors, we should be thinking longer-term.</p><p><blockquote>作为投资者，我们应该从长计议。</blockquote></p><p>That means we should be looking at the long-term potential for revenue and earnings growth despite the near-term challenges.</p><p><blockquote>这意味着尽管面临近期挑战，我们还是应该关注收入和盈利增长的长期潜力。</blockquote></p><p>Let’s take revenue first. In the just-reported quarter, the company managed to grow sales just 3.5% from the year-ago period, as softness at foodservice offset tremendous growth at retail (both in the U.S and international markets).</p><p><blockquote>我们先来看营收。在刚刚报告的季度中，该公司的销售额较去年同期仅增长了3.5%，因为餐饮服务的疲软抵消了零售业（在美国和国际市场）的巨大增长。</blockquote></p><p>People generally buy familiar brands at grocery stores. So the surge in sales indicates strong underlying demand and growing brand awareness.</p><p><blockquote>人们通常在杂货店购买熟悉的品牌。因此，销售额的激增表明潜在需求强劲，品牌知名度不断提高。</blockquote></p><p>Okay, so it’s offering discounts. But so is prime competitor Impossible Foods. There’s something of a pricing war going on there with Impossible being the more aggressive. Management commentary also indicates that the absorption of higher fixed cost from operating below capacity in the prior quarter was a bigger driver of weakness.</p><p><blockquote>好吧，所以它提供折扣。但主要竞争对手Impossible Foods也是如此。那里正在进行一场价格战，Impossible更具侵略性。管理层评论还表明，吸收上一季度低于产能运营带来的较高固定成本是疲软的更大驱动因素。</blockquote></p><p>The company is also adding IT infrastructure, it’s also adding headcount in an effort to boost R&amp;D and marketing and support international expansion in Europe and China. It’s also adding production capacity in these two international markets.</p><p><blockquote>该公司还增加了IT基础设施，还增加了员工人数，以促进R&amp;D和营销，并支持在欧洲和中国的国际扩张。它还增加了这两个国际市场的产能。</blockquote></p><p>So while on the one hand we are seeing it building its own brand and internal capabilities, on the other, it is signing long-term deals with leading brands like McDonalds, Yum Brands (YUM Quick QuoteYUM-Free Report) and Pepsico (PEP Quick QuotePEP-Free Report) . When you’re mainly selling into mom n pops, business can be more uncertain. But when you’re selling into recognized leaders in foodservice with deeper pockets to withstand near-term issues, and also testing the water in healthy snacks, the business will obviously be more stable.</p><p><blockquote>因此，一方面我们看到它正在建立自己的品牌和内部能力，另一方面，它正在与麦当劳、百胜餐饮集团（YUM Quick QuoteYUM-免费报告）和百事可乐（PEP Quick QuotePEP-免费报告）。当你主要向妈妈和爸爸销售时，生意会更加不确定。但是，当你向餐饮服务行业公认的领导者销售产品，这些领导者有更雄厚的财力来承受近期的问题，并且还在测试健康零食中的水分时，业务显然会更加稳定。</blockquote></p><p>But all this wouldn’t be as good if Beyond Meat wasn’t a great innovator. And it has made great strides in this. It has moved on from its burger patty to create sausage and meatballs. Its agreement with McDonalds includes a promise of co-developed plant-based chicken, pork and eggs. Its agreement with Yum includes the creation of signature menu items in different plant-based categories.</p><p><blockquote>但如果Beyond Meat不是一个伟大的创新者，这一切都不会那么好。它在这方面取得了长足的进步。它已经从汉堡肉饼转向香肠和肉丸。它与麦当劳的协议包括共同开发植物性鸡肉、猪肉和鸡蛋的承诺。它与百胜的协议包括在不同的植物类别中创建签名菜单项。</blockquote></p><p>Zacks Estimates currently expect the company to swing to a profit this year while growing revenues 53.8%. Both these numbers are due for a revision given the new deals and expected increase in costs (the commencement of production at international facilities should have a mitigating effect on cost and reduce logistics complications).</p><p><blockquote>Zacks目前预计该公司今年将扭亏为盈，同时收入增长53.8%。鉴于新交易和预期成本增加（在国际工厂开始生产应该会对成本产生缓解作用并减少物流复杂性），这两个数字都应该进行修订。</blockquote></p><p>While trading below their median value over the past year, Beyond Meat shares aren’t cheap. So we could wait for a better entry point.</p><p><blockquote>虽然过去一年的交易价格低于中值，但Beyond Meat股价并不便宜。所以我们可以等待一个更好的切入点。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8d24f3c0541515034c6c9e016a8cabe3\" tg-width=\"620\" tg-height=\"261\" 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>Beyond Meat Prepares for a High-Growth Phase<blockquote>Beyond Meat为高增长阶段做准备</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\">\nBeyond Meat Prepares for a High-Growth Phase<blockquote>Beyond Meat为高增长阶段做准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zacks</strong><span class=\"h-time small\">2021-03-02 17:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its shares around. Somehow, I really like the sound of “revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol.”</p><p><blockquote>我成为Beyond Meat（BYND）的粉丝已经有一段时间了，尽管疫情对其股价造成了疯狂的影响。不知何故，我真的很喜欢“革命性的植物性肉类由简单的成分制成，不含转基因生物、生物工程成分、激素、抗生素或胆固醇。”</blockquote></p><p>Everyone may not care for a meat substitute when they can have the real thing. But my feeling is that more and more people will have it at least sometimes, as a token to the environment, or out of animal love, or for health reasons. And when they do that, they might consider an offering from a popular brand name. Especially when it’s so easily available at the friendly neighborhood McDonalds (MCD Quick QuoteMCD-Free Report) . Or a KFC, or a Pizza Hut or, or a Taco Bell for that matter.</p><p><blockquote>当每个人都能拥有真正的肉类替代品时，他们可能不会喜欢肉类替代品。但我的感觉是，越来越多的人至少有时会拥有它，作为对环境的象征，或者出于对动物的热爱，或者出于健康原因。当他们这样做时，他们可能会考虑一个流行品牌的产品。尤其是当它在友好的麦当劳附近很容易买到时（MCD Quick QuoteMCD-免费报告）。或者肯德基，或者必胜客，或者塔可钟。</blockquote></p><p>So it’s important to remember that we are in unusual times. And unusual things happen in unusual times.</p><p><blockquote>所以重要的是要记住，我们正处于非常时期。不寻常的事情发生在不寻常的时候。</blockquote></p><p>And if that means that a company like Beyond Meat has to offer discounts, write off some inventory, or absorb extra costs, so be it. After all, nobody could have planned for a health crisis coming along and shutting down all the restaurants and sending people indoors for protection.</p><p><blockquote>如果这意味着像Beyond Meat这样的公司必须提供折扣、注销一些库存或吸收额外成本，那就这样吧。毕竟，没有人能预料到健康危机的到来，关闭所有的餐馆，把人们送到室内寻求保护。</blockquote></p><p>As investors, we should be thinking longer-term.</p><p><blockquote>作为投资者，我们应该从长计议。</blockquote></p><p>That means we should be looking at the long-term potential for revenue and earnings growth despite the near-term challenges.</p><p><blockquote>这意味着尽管面临近期挑战，我们还是应该关注收入和盈利增长的长期潜力。</blockquote></p><p>Let’s take revenue first. In the just-reported quarter, the company managed to grow sales just 3.5% from the year-ago period, as softness at foodservice offset tremendous growth at retail (both in the U.S and international markets).</p><p><blockquote>我们先来看营收。在刚刚报告的季度中，该公司的销售额较去年同期仅增长了3.5%，因为餐饮服务的疲软抵消了零售业（在美国和国际市场）的巨大增长。</blockquote></p><p>People generally buy familiar brands at grocery stores. So the surge in sales indicates strong underlying demand and growing brand awareness.</p><p><blockquote>人们通常在杂货店购买熟悉的品牌。因此，销售额的激增表明潜在需求强劲，品牌知名度不断提高。</blockquote></p><p>Okay, so it’s offering discounts. But so is prime competitor Impossible Foods. There’s something of a pricing war going on there with Impossible being the more aggressive. Management commentary also indicates that the absorption of higher fixed cost from operating below capacity in the prior quarter was a bigger driver of weakness.</p><p><blockquote>好吧，所以它提供折扣。但主要竞争对手Impossible Foods也是如此。那里正在进行一场价格战，Impossible更具侵略性。管理层评论还表明，吸收上一季度低于产能运营带来的较高固定成本是疲软的更大驱动因素。</blockquote></p><p>The company is also adding IT infrastructure, it’s also adding headcount in an effort to boost R&amp;D and marketing and support international expansion in Europe and China. It’s also adding production capacity in these two international markets.</p><p><blockquote>该公司还增加了IT基础设施，还增加了员工人数，以促进R&amp;D和营销，并支持在欧洲和中国的国际扩张。它还增加了这两个国际市场的产能。</blockquote></p><p>So while on the one hand we are seeing it building its own brand and internal capabilities, on the other, it is signing long-term deals with leading brands like McDonalds, Yum Brands (YUM Quick QuoteYUM-Free Report) and Pepsico (PEP Quick QuotePEP-Free Report) . When you’re mainly selling into mom n pops, business can be more uncertain. But when you’re selling into recognized leaders in foodservice with deeper pockets to withstand near-term issues, and also testing the water in healthy snacks, the business will obviously be more stable.</p><p><blockquote>因此，一方面我们看到它正在建立自己的品牌和内部能力，另一方面，它正在与麦当劳、百胜餐饮集团（YUM Quick QuoteYUM-免费报告）和百事可乐（PEP Quick QuotePEP-免费报告）。当你主要向妈妈和爸爸销售时，生意会更加不确定。但是，当你向餐饮服务行业公认的领导者销售产品，这些领导者有更雄厚的财力来承受近期的问题，并且还在测试健康零食中的水分时，业务显然会更加稳定。</blockquote></p><p>But all this wouldn’t be as good if Beyond Meat wasn’t a great innovator. And it has made great strides in this. It has moved on from its burger patty to create sausage and meatballs. Its agreement with McDonalds includes a promise of co-developed plant-based chicken, pork and eggs. Its agreement with Yum includes the creation of signature menu items in different plant-based categories.</p><p><blockquote>但如果Beyond Meat不是一个伟大的创新者，这一切都不会那么好。它在这方面取得了长足的进步。它已经从汉堡肉饼转向香肠和肉丸。它与麦当劳的协议包括共同开发植物性鸡肉、猪肉和鸡蛋的承诺。它与百胜的协议包括在不同的植物类别中创建签名菜单项。</blockquote></p><p>Zacks Estimates currently expect the company to swing to a profit this year while growing revenues 53.8%. Both these numbers are due for a revision given the new deals and expected increase in costs (the commencement of production at international facilities should have a mitigating effect on cost and reduce logistics complications).</p><p><blockquote>Zacks目前预计该公司今年将扭亏为盈，同时收入增长53.8%。鉴于新交易和预期成本增加（在国际工厂开始生产应该会对成本产生缓解作用并减少物流复杂性），这两个数字都应该进行修订。</blockquote></p><p>While trading below their median value over the past year, Beyond Meat shares aren’t cheap. So we could wait for a better entry point.</p><p><blockquote>虽然过去一年的交易价格低于中值，但Beyond Meat股价并不便宜。所以我们可以等待一个更好的切入点。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8d24f3c0541515034c6c9e016a8cabe3\" tg-width=\"620\" tg-height=\"261\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zacks.com/stock/news/1270468/beyond-meat-prepares-for-a-high-growth-phase?art_rec=home-home-investment_ideas_stocks-ID12-txt-1129470\">zacks</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":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.zacks.com/stock/news/1270468/beyond-meat-prepares-for-a-high-growth-phase?art_rec=home-home-investment_ideas_stocks-ID12-txt-1129470","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198289081","content_text":"I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its shares around. Somehow, I really like the sound of “revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol.”Everyone may not care for a meat substitute when they can have the real thing. But my feeling is that more and more people will have it at least sometimes, as a token to the environment, or out of animal love, or for health reasons. And when they do that, they might consider an offering from a popular brand name. Especially when it’s so easily available at the friendly neighborhood McDonalds (MCD Quick QuoteMCD-Free Report) . Or a KFC, or a Pizza Hut or, or a Taco Bell for that matter.So it’s important to remember that we are in unusual times. And unusual things happen in unusual times.And if that means that a company like Beyond Meat has to offer discounts, write off some inventory, or absorb extra costs, so be it. After all, nobody could have planned for a health crisis coming along and shutting down all the restaurants and sending people indoors for protection.As investors, we should be thinking longer-term.That means we should be looking at the long-term potential for revenue and earnings growth despite the near-term challenges.Let’s take revenue first. In the just-reported quarter, the company managed to grow sales just 3.5% from the year-ago period, as softness at foodservice offset tremendous growth at retail (both in the U.S and international markets).People generally buy familiar brands at grocery stores. So the surge in sales indicates strong underlying demand and growing brand awareness.Okay, so it’s offering discounts. But so is prime competitor Impossible Foods. There’s something of a pricing war going on there with Impossible being the more aggressive. Management commentary also indicates that the absorption of higher fixed cost from operating below capacity in the prior quarter was a bigger driver of weakness.The company is also adding IT infrastructure, it’s also adding headcount in an effort to boost R&D and marketing and support international expansion in Europe and China. It’s also adding production capacity in these two international markets.So while on the one hand we are seeing it building its own brand and internal capabilities, on the other, it is signing long-term deals with leading brands like McDonalds, Yum Brands (YUM Quick QuoteYUM-Free Report) and Pepsico (PEP Quick QuotePEP-Free Report) . When you’re mainly selling into mom n pops, business can be more uncertain. But when you’re selling into recognized leaders in foodservice with deeper pockets to withstand near-term issues, and also testing the water in healthy snacks, the business will obviously be more stable.But all this wouldn’t be as good if Beyond Meat wasn’t a great innovator. And it has made great strides in this. It has moved on from its burger patty to create sausage and meatballs. Its agreement with McDonalds includes a promise of co-developed plant-based chicken, pork and eggs. Its agreement with Yum includes the creation of signature menu items in different plant-based categories.Zacks Estimates currently expect the company to swing to a profit this year while growing revenues 53.8%. Both these numbers are due for a revision given the new deals and expected increase in costs (the commencement of production at international facilities should have a mitigating effect on cost and reduce logistics complications).While trading below their median value over the past year, Beyond Meat shares aren’t cheap. So we could wait for a better entry point.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":1605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362336069,"gmtCreate":1614595150751,"gmtModify":1703478609002,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Pls","listText":"Pls","text":"Pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362336069","repostId":"1181303892","repostType":4,"isVote":1,"tweetType":1,"viewCount":1228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362338513,"gmtCreate":1614595127932,"gmtModify":1703478608317,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Bad","listText":"Bad","text":"Bad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362338513","repostId":"1135866043","repostType":4,"isVote":1,"tweetType":1,"viewCount":1751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368168664,"gmtCreate":1614300996558,"gmtModify":1703476012968,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Appl pls","listText":"Appl pls","text":"Appl pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368168664","repostId":"1165777611","repostType":4,"repost":{"id":"1165777611","kind":"news","pubTimestamp":1614247990,"share":"https://www.laohu8.com/m/news/1165777611?lang=zh_CN&edition=full","pubTime":"2021-02-25 18:13","market":"us","language":"en","title":"Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165777611","media":"Barrons","summary":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyana","content":"<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</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\">\nWall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-25 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165777611","content_text":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.\nPiper tech analystHarsh Kumarsays the timing is right for an Apple (ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.\nApple has so far declined to comment about any car plans recently.\nKumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.\nHe assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.\nFor tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.\nOne factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike WardtellsBarron’s.\nWard says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.\nMorgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.\nHe believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.\nThat threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.\nJ.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.\nThe firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.\nAnother thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.\nWedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”\nQuantumScape (QS) is pioneering solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.\nApple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.\nInvestors, it appears, have other more pressing issues on their minds.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369257615,"gmtCreate":1614051420237,"gmtModify":1634551388688,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Cmon","listText":"Cmon","text":"Cmon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/369257615","repostId":"1129494437","repostType":4,"repost":{"id":"1129494437","kind":"news","pubTimestamp":1614048165,"share":"https://www.laohu8.com/m/news/1129494437?lang=zh_CN&edition=full","pubTime":"2021-02-23 10:42","market":"us","language":"en","title":"After the GameStop fiasco, momentum builds for an $800 billion tax<blockquote>游戏驿站惨败后，8000亿美元税收势头增强</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129494437","media":"CNN Business","summary":"New York (CNN Business)-Uncle Sam is in search for a pot of gold that could ease the pain of trillio","content":"<p><b>New York (CNN Business)-</b>Uncle Sam is in search for a pot of gold that could ease the pain of trillion-dollar deficits. And some believe Wall Street might just have the answer.</p><p><blockquote><b>纽约（CNN商业）——</b>山姆大叔正在寻找一桶金来缓解数万亿美元赤字的痛苦。一些人认为华尔街可能有答案。</blockquote></p><p> For more than a decade, progressives have&nbsp;tried and failed to impose a financial transaction tax.But there is new momentum for such a levy as the&nbsp;national debt skyrockets&nbsp;during the pandemic and in the wake of the&nbsp;GameStop trading frenzy&nbsp;that&nbsp;shined a bright light market structure concerns.</p><p><blockquote>十多年来，进步人士一直试图征收金融交易税，但都失败了。但随着疫情期间国债飙升以及游戏驿站交易狂潮引发市场结构担忧，此类征税出现了新的动力。</blockquote></p><p> The White House told CNN Business on Sunday&nbsp;that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.</p><p><blockquote>白宫周日告诉CNN Business，对类似游戏驿站的交易征收金融交易税值得进一步研究，并且可以成为对此类税收的收入和市场稳定进行更大评估的一部分。主要提案相当于对每1000美元的交易征收1美元的税。</blockquote></p><p> But there is a deep divide over the wisdom of a financial transaction tax. Progressives see it as a smart way to simultaneously curb predatory trading while funding ambitious programs aimed at easing America's inequality problem.Opponents, on the other hand, paint a financial transaction tax (FTT) as a nightmare. Wall Street, which would take a hit, is already warning such a levy&nbsp;would backfire on Main Street&nbsp;by raising trading costs and depressing market liquidity.</p><p><blockquote>但对于金融交易税的明智性存在很大分歧。进步人士认为这是一种明智的方式，可以同时遏制掠夺性交易，同时为旨在缓解美国不平等问题的雄心勃勃的计划提供资金。另一方面，反对者将金融交易税（FTT）描绘成一场噩梦。将受到打击的华尔街已经警告称，此类征税将提高交易成本并抑制市场流动性，从而对大街产生适得其反的效果。</blockquote></p><p> \"The odds are still against a financial transaction tax being enacted, but for the first time in a decade this proposal should be considered as a viable policy option rather than just another talking point,\" said Isaac Boltansky, director of policy research at Compass Point Research &amp; Trading.</p><p><blockquote>Compass Point政策研究总监艾萨克·博尔坦斯基(Isaac Boltansky)表示：“颁布金融交易税的可能性仍然很小，但十年来第一次，这项提案应该被视为一种可行的政策选择，而不仅仅是另一个话题。”研究与交易。</blockquote></p><p> Last week, House Financial Services Chairwoman Maxine Waters said she's \"very interested\" and \"certainly looking at\" a financial transaction tax.</p><p><blockquote>上周，众议院金融服务主席玛克辛·沃特斯表示，她“非常感兴趣”并且“肯定会考虑”金融交易税。</blockquote></p><p> <b>'Mindboggling' concentration of wealth</b></p><p><blockquote><b>“令人难以置信”的财富集中</b></blockquote></p><p> Lawmakers will surely be tempted to tax transactions because it could raise vast sums of money at a time when Washington is strapped for cash.</p><p><blockquote>立法者肯定会被诱惑对交易征税，因为在华盛顿现金短缺的时候，这可能会筹集巨额资金。</blockquote></p><p> A 0.1% tax on stock, bond and derivative transactions&nbsp;could raise $777 billion for the federal government over a decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office.</p><p><blockquote>根据无党派国会预算办公室2018年的估计，对股票、债券和衍生品交易征收0.1%的税可以在十年内为联邦政府筹集7770亿美元。</blockquote></p><p> \"We have tremendous income inequality in our society and a giant deficit. A financial transaction tax would be an incredibly efficient and progressive way to raise revenue,\" Aaron Klein, a former Treasury Department official in the Obama administration, told CNN Business.</p><p><blockquote>奥巴马政府前财政部官员亚伦·克莱因(Aaron Klein)告诉CNN Business：“我们的社会存在巨大的收入不平等和巨额赤字。金融交易税将是一种非常有效和渐进的增加收入的方式。”</blockquote></p><p> The top 1% of American households would pay 40% of the total amount of the tax, while the bottom 60% would pay just over 11%, according to the&nbsp;Urban-Brookings Tax Policy Center.</p><p><blockquote>根据Urban-Brookings税收政策中心的数据，收入最高的1%的美国家庭将支付总额的40%，而收入最低的60%的家庭将支付略高于11%的税收。</blockquote></p><p> That makes sense because the wealthiest 10% of US households owned 87% of all stocks and mutual funds, according to&nbsp;2020 data from the Federal Reserve.</p><p><blockquote>这是有道理的，因为根据美联储2020年的数据，美国最富有的10%家庭拥有87%的股票和共同基金。</blockquote></p><p> \"The concentration of wealth in the stock market is mindboggling,\" said Klein, who is now a senior fellow of economic studies at the Brookings Institution.</p><p><blockquote>“财富集中在股市令人难以置信，”现任布鲁金斯学会经济研究高级研究员的克莱因说。</blockquote></p><p> Even though some argue an FTT would be a disaster, the United States already has a tax, albeit a very tiny one. Roughly 2 cents per $1,000 traded goes toward&nbsp;funding the budget of the Securities and Exchange Commission.Due to surging trading volume during the pandemic, the&nbsp;tax rate to fund the SEC is being lowered&nbsp;to just half a cent per $1,000 starting Thursday.</p><p><blockquote>尽管有些人认为FTT将是一场灾难，但美国已经有了一项税收，尽管规模很小。每1,000美元的交易中大约有2美分用于资助美国证券交易委员会的预算。由于疫情期间交易量激增，从周四开始，为SEC提供资金的税率将降至每1,000美元仅半美分。</blockquote></p><p> \"There is a fee today and the world hasn't ended,\" said Dennis Kelleher, CEO of Better Markets, a group that lobbies for tougher oversight of Wall Street. \"The proposed fee is so puny that no reasonable retail investor would ever notice it.\"</p><p><blockquote>“今天有费用，世界还没有终结，”Better Markets首席执行官丹尼斯·凯莱赫(Dennis Kelleher)表示，该组织游说对华尔街进行更严格的监管。“拟议的费用如此之低，以至于任何理性的散户投资者都不会注意到它。”</blockquote></p><p> <b>'Unintended consequences'</b></p><p><blockquote><b>“意想不到的后果”</b></blockquote></p><p> The financial industry is arguing the exact opposite.</p><p><blockquote>金融业的观点恰恰相反。</blockquote></p><p> They say even a 0.1% levy on transactions will cause market players to pass the costs on to consumers and make it harder to buy and sell securities by decreasing liquidity, which measures how easy it is to buy and sell securities. Some Wall Street firms could even try to move their operations outside the country to avoid the tax. The&nbsp;New York Stock Exchange recently threatened to flee&nbsp;New York,possibly for Texas, in response to transaction taxes mulled by Albany.</p><p><blockquote>他们表示，即使对交易征收0.1%的税，也会导致市场参与者将成本转嫁给消费者，并通过减少流动性（衡量买卖证券的难易程度）来增加买卖证券的难度。一些华尔街公司甚至可能试图将业务转移到国外以避税。纽约证券交易所最近威胁要逃离纽约，可能前往德克萨斯州，以回应奥尔巴尼考虑的交易税。</blockquote></p><p> \"This approach has a long history of unintended consequences that will penalize workers, pensioners and American families,\" a spokesperson for the Coalition to Prevent the Taxing of Retirement Savings told CNN Business.</p><p><blockquote>防止退休储蓄征税联盟的一位发言人告诉美国有线电视新闻网商业频道：“这种做法长期以来一直会产生意想不到的后果，这将惩罚工人、养老金领取者和美国家庭。”</blockquote></p><p> That coalition includes the NYSE,Nasdaq&nbsp;(NDAQ)&nbsp;and&nbsp;UBS&nbsp;(UBS). Citadel Securities andVirtu Financial(VIRT), two high-speed trading firms that would be hurt by a financial transaction tax, are also members.</p><p><blockquote>该联盟包括纽约证券交易所、纳斯达克(NDAQ)和瑞银(UBS)。Citadel Securities和Virtu Financial(VIRT)这两家将受到金融交易税损害的高速交易公司也是会员。</blockquote></p><p> \"An FTT will increase trading costs for investors — including individuals — undermine the competitiveness of our capital markets and harm the US economy just as we work to recover from this pandemic,\" the spokesperson said.</p><p><blockquote>该发言人表示：“FTT将增加包括个人在内的投资者的交易成本，削弱我们资本市场的竞争力，并在我们努力从这场大流行中复苏之际损害美国经济。”</blockquote></p><p> <b>Some countries tried and failed</b></p><p><blockquote><b>一些国家尝试过，但失败了</b></blockquote></p><p></p><p> James Angel, a Georgetown University professor who specializes in market structure and regulation,authored a Chamber of Commerce-funded paper in 2019&nbsp;that found a financial transaction tax would hurt Main Street by driving up the cost of trading by more than the amount of the tax.</p><p><blockquote>专门研究市场结构和监管的乔治敦大学教授詹姆斯·安吉尔(James Angel)在2019年撰写了一篇由商会资助的论文，该论文发现金融交易税会使交易成本上升超过税额，从而损害大街。</blockquote></p><p> \"There is no such thing as a tiny tax that raises big revenue,\" Angel said in an interview.</p><p><blockquote>安吉尔在接受采访时表示：“没有所谓的小额税收可以增加巨额收入。”</blockquote></p><p> He pointed to how some other countries, most notably Sweden in the 1980s, abandoned such taxes after trading volume vanished and revenue underwhelmed. (Of course, the United States, with its deep financial markets, massive economy and the world's reserve currency, is not Sweden.)</p><p><blockquote>他指出，其他一些国家，尤其是20世纪80年代的瑞典，在交易量消失、收入低迷后，如何放弃此类税收。（当然，拥有深厚金融市场、庞大经济和世界储备货币的美国不是瑞典。）</blockquote></p><p> \"It really messes up the market,\" Angel said.</p><p><blockquote>“这确实扰乱了市场，”安吉尔说。</blockquote></p><p> If US trading volumes fell sharply, the FTT wouldn't raise nearly as much as the $777 billion the CBO estimates.</p><p><blockquote>如果美国交易量大幅下降，FTT筹集的资金将不会达到CBO估计的7770亿美元。</blockquote></p><p> Greg Valliere, chief US policy strategist at AGF Investments, said the chances of a financial transaction tax are \"very slim\" because moderate Democrats would be unlikely to back it.</p><p><blockquote>AGF Investments首席美国政策策略师Greg Valliere表示，征收金融交易税的可能性“非常小”，因为温和的民主党人不太可能支持它。</blockquote></p><p> \"It would be a disaster. It's a pandora's box that should not be opened,\" Valliere said.</p><p><blockquote>“这将是一场灾难。这是一个潘多拉的盒子，不应该被打开，”瓦利埃说。</blockquote></p><p> Of course, it's possible that FTT proposals in Congress get scaled back, including by lowering the rate or excluding smaller blocks of trades.</p><p><blockquote>当然，国会的FTT提案可能会被缩减，包括降低利率或排除较小的交易。</blockquote></p><p> <b>Leveling the playing field</b></p><p><blockquote><b>公平竞争环境</b></blockquote></p><p> During last week's congressional hearing on GameStop and Robinhood, Citadel Securities founder&nbsp;Ken Griffin warned a tax would boomerang.</p><p><blockquote>在上周关于游戏驿站和Robinhood的国会听证会上，Citadel Securities创始人Ken Griffin警告称，征税将适得其反。</blockquote></p><p> \"We firmly believe a financial transaction tax would injure Americans trying to save for retirement,\" Griffin said.</p><p><blockquote>格里芬说：“我们坚信金融交易税会伤害试图为退休储蓄的美国人。”</blockquote></p><p> Klein, the Brookings Institution fellow, called Griffin's comments a \"self-serving lie\" because high-frequency trading firms like his would be among those hurt.</p><p><blockquote>布鲁金斯学会研究员克莱因称格里芬的言论是“自私的谎言”，因为像他这样的高频交易公司也会受到伤害。</blockquote></p><p> The GameStop trading frenzy drew attention onto how Robinhood was able to bring zero-commission trading to the masses.</p><p><blockquote>游戏驿站交易狂潮引起了人们对Robinhood如何将零佣金交易带给大众的关注。</blockquote></p><p> Through a&nbsp;controversial practice known as payment for order flow, Robinhood and other brokers get paid to route retail trades through market makers like Citadel Securities.</p><p><blockquote>通过一种被称为订单流支付的有争议的做法，Robinhood和其他经纪商通过Citadel Securities等做市商进行零售交易获得报酬。</blockquote></p><p> Payment for order flow has made it cheap and easy to trade. However, critics say it's really Wall Street that is getting the better end of the deal by skimming pennies off each trade and racing ahead of retail orders to make a profit.</p><p><blockquote>订单流的支付使得交易变得便宜和容易。然而，批评人士表示，华尔街确实通过从每笔交易中榨取几分钱并抢先零售订单来获利，从而获得了更好的结果。</blockquote></p><p> \"We believe the markets today are rigged to favor high-frequency traders,\" said Kelleher, the Better Markets CEO. \"The industry has taken visible upfront commission fees and disguised it into invisible payment for order flow.\"</p><p><blockquote>Better Markets首席执行官凯莱赫表示：“我们认为，当今的市场受到操纵，有利于高频交易者。”“行业将看得见的前期佣金费用，伪装成订单流的隐形支付。”</blockquote></p><p> In other words, it's not really free to trade.</p><p><blockquote>换句话说，它并不是真正的自由交易。</blockquote></p><p> Kelleher thinks Congress should focus on taxing orders, not transactions, because a&nbsp;staggering amount of all stock trade orders(some estimates&nbsp;say 99%) are canceled because of high-frequency trading strategies. Critics say those orders are evidence that high-speed traders are manipulating the market by creating the appearance of demand where there is none.</p><p><blockquote>凯莱赫认为国会应该专注于对订单征税，而不是对交易征税，因为所有股票交易订单中有惊人数量（有人估计为99%）因高频交易策略而被取消。批评人士表示，这些订单证明高速交易者正在操纵市场，在没有需求的情况下制造需求的表象。</blockquote></p><p> \"A financial fee on orders could be the death knell for predatory high frequency trading,\" he said. \"Everyone will be better off — except for the predators.\"</p><p><blockquote>“订单的财务费用可能是掠夺性高频交易的丧钟，”他说。“每个人都会过得更好——除了掠食者。”</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>After the GameStop fiasco, momentum builds for an $800 billion tax<blockquote>游戏驿站惨败后，8000亿美元税收势头增强</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\">\nAfter the GameStop fiasco, momentum builds for an $800 billion tax<blockquote>游戏驿站惨败后，8000亿美元税收势头增强</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-02-23 10:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)-</b>Uncle Sam is in search for a pot of gold that could ease the pain of trillion-dollar deficits. And some believe Wall Street might just have the answer.</p><p><blockquote><b>纽约（CNN商业）——</b>山姆大叔正在寻找一桶金来缓解数万亿美元赤字的痛苦。一些人认为华尔街可能有答案。</blockquote></p><p> For more than a decade, progressives have&nbsp;tried and failed to impose a financial transaction tax.But there is new momentum for such a levy as the&nbsp;national debt skyrockets&nbsp;during the pandemic and in the wake of the&nbsp;GameStop trading frenzy&nbsp;that&nbsp;shined a bright light market structure concerns.</p><p><blockquote>十多年来，进步人士一直试图征收金融交易税，但都失败了。但随着疫情期间国债飙升以及游戏驿站交易狂潮引发市场结构担忧，此类征税出现了新的动力。</blockquote></p><p> The White House told CNN Business on Sunday&nbsp;that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.</p><p><blockquote>白宫周日告诉CNN Business，对类似游戏驿站的交易征收金融交易税值得进一步研究，并且可以成为对此类税收的收入和市场稳定进行更大评估的一部分。主要提案相当于对每1000美元的交易征收1美元的税。</blockquote></p><p> But there is a deep divide over the wisdom of a financial transaction tax. Progressives see it as a smart way to simultaneously curb predatory trading while funding ambitious programs aimed at easing America's inequality problem.Opponents, on the other hand, paint a financial transaction tax (FTT) as a nightmare. Wall Street, which would take a hit, is already warning such a levy&nbsp;would backfire on Main Street&nbsp;by raising trading costs and depressing market liquidity.</p><p><blockquote>但对于金融交易税的明智性存在很大分歧。进步人士认为这是一种明智的方式，可以同时遏制掠夺性交易，同时为旨在缓解美国不平等问题的雄心勃勃的计划提供资金。另一方面，反对者将金融交易税（FTT）描绘成一场噩梦。将受到打击的华尔街已经警告称，此类征税将提高交易成本并抑制市场流动性，从而对大街产生适得其反的效果。</blockquote></p><p> \"The odds are still against a financial transaction tax being enacted, but for the first time in a decade this proposal should be considered as a viable policy option rather than just another talking point,\" said Isaac Boltansky, director of policy research at Compass Point Research &amp; Trading.</p><p><blockquote>Compass Point政策研究总监艾萨克·博尔坦斯基(Isaac Boltansky)表示：“颁布金融交易税的可能性仍然很小，但十年来第一次，这项提案应该被视为一种可行的政策选择，而不仅仅是另一个话题。”研究与交易。</blockquote></p><p> Last week, House Financial Services Chairwoman Maxine Waters said she's \"very interested\" and \"certainly looking at\" a financial transaction tax.</p><p><blockquote>上周，众议院金融服务主席玛克辛·沃特斯表示，她“非常感兴趣”并且“肯定会考虑”金融交易税。</blockquote></p><p> <b>'Mindboggling' concentration of wealth</b></p><p><blockquote><b>“令人难以置信”的财富集中</b></blockquote></p><p> Lawmakers will surely be tempted to tax transactions because it could raise vast sums of money at a time when Washington is strapped for cash.</p><p><blockquote>立法者肯定会被诱惑对交易征税，因为在华盛顿现金短缺的时候，这可能会筹集巨额资金。</blockquote></p><p> A 0.1% tax on stock, bond and derivative transactions&nbsp;could raise $777 billion for the federal government over a decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office.</p><p><blockquote>根据无党派国会预算办公室2018年的估计，对股票、债券和衍生品交易征收0.1%的税可以在十年内为联邦政府筹集7770亿美元。</blockquote></p><p> \"We have tremendous income inequality in our society and a giant deficit. A financial transaction tax would be an incredibly efficient and progressive way to raise revenue,\" Aaron Klein, a former Treasury Department official in the Obama administration, told CNN Business.</p><p><blockquote>奥巴马政府前财政部官员亚伦·克莱因(Aaron Klein)告诉CNN Business：“我们的社会存在巨大的收入不平等和巨额赤字。金融交易税将是一种非常有效和渐进的增加收入的方式。”</blockquote></p><p> The top 1% of American households would pay 40% of the total amount of the tax, while the bottom 60% would pay just over 11%, according to the&nbsp;Urban-Brookings Tax Policy Center.</p><p><blockquote>根据Urban-Brookings税收政策中心的数据，收入最高的1%的美国家庭将支付总额的40%，而收入最低的60%的家庭将支付略高于11%的税收。</blockquote></p><p> That makes sense because the wealthiest 10% of US households owned 87% of all stocks and mutual funds, according to&nbsp;2020 data from the Federal Reserve.</p><p><blockquote>这是有道理的，因为根据美联储2020年的数据，美国最富有的10%家庭拥有87%的股票和共同基金。</blockquote></p><p> \"The concentration of wealth in the stock market is mindboggling,\" said Klein, who is now a senior fellow of economic studies at the Brookings Institution.</p><p><blockquote>“财富集中在股市令人难以置信，”现任布鲁金斯学会经济研究高级研究员的克莱因说。</blockquote></p><p> Even though some argue an FTT would be a disaster, the United States already has a tax, albeit a very tiny one. Roughly 2 cents per $1,000 traded goes toward&nbsp;funding the budget of the Securities and Exchange Commission.Due to surging trading volume during the pandemic, the&nbsp;tax rate to fund the SEC is being lowered&nbsp;to just half a cent per $1,000 starting Thursday.</p><p><blockquote>尽管有些人认为FTT将是一场灾难，但美国已经有了一项税收，尽管规模很小。每1,000美元的交易中大约有2美分用于资助美国证券交易委员会的预算。由于疫情期间交易量激增，从周四开始，为SEC提供资金的税率将降至每1,000美元仅半美分。</blockquote></p><p> \"There is a fee today and the world hasn't ended,\" said Dennis Kelleher, CEO of Better Markets, a group that lobbies for tougher oversight of Wall Street. \"The proposed fee is so puny that no reasonable retail investor would ever notice it.\"</p><p><blockquote>“今天有费用，世界还没有终结，”Better Markets首席执行官丹尼斯·凯莱赫(Dennis Kelleher)表示，该组织游说对华尔街进行更严格的监管。“拟议的费用如此之低，以至于任何理性的散户投资者都不会注意到它。”</blockquote></p><p> <b>'Unintended consequences'</b></p><p><blockquote><b>“意想不到的后果”</b></blockquote></p><p> The financial industry is arguing the exact opposite.</p><p><blockquote>金融业的观点恰恰相反。</blockquote></p><p> They say even a 0.1% levy on transactions will cause market players to pass the costs on to consumers and make it harder to buy and sell securities by decreasing liquidity, which measures how easy it is to buy and sell securities. Some Wall Street firms could even try to move their operations outside the country to avoid the tax. The&nbsp;New York Stock Exchange recently threatened to flee&nbsp;New York,possibly for Texas, in response to transaction taxes mulled by Albany.</p><p><blockquote>他们表示，即使对交易征收0.1%的税，也会导致市场参与者将成本转嫁给消费者，并通过减少流动性（衡量买卖证券的难易程度）来增加买卖证券的难度。一些华尔街公司甚至可能试图将业务转移到国外以避税。纽约证券交易所最近威胁要逃离纽约，可能前往德克萨斯州，以回应奥尔巴尼考虑的交易税。</blockquote></p><p> \"This approach has a long history of unintended consequences that will penalize workers, pensioners and American families,\" a spokesperson for the Coalition to Prevent the Taxing of Retirement Savings told CNN Business.</p><p><blockquote>防止退休储蓄征税联盟的一位发言人告诉美国有线电视新闻网商业频道：“这种做法长期以来一直会产生意想不到的后果，这将惩罚工人、养老金领取者和美国家庭。”</blockquote></p><p> That coalition includes the NYSE,Nasdaq&nbsp;(NDAQ)&nbsp;and&nbsp;UBS&nbsp;(UBS). Citadel Securities andVirtu Financial(VIRT), two high-speed trading firms that would be hurt by a financial transaction tax, are also members.</p><p><blockquote>该联盟包括纽约证券交易所、纳斯达克(NDAQ)和瑞银(UBS)。Citadel Securities和Virtu Financial(VIRT)这两家将受到金融交易税损害的高速交易公司也是会员。</blockquote></p><p> \"An FTT will increase trading costs for investors — including individuals — undermine the competitiveness of our capital markets and harm the US economy just as we work to recover from this pandemic,\" the spokesperson said.</p><p><blockquote>该发言人表示：“FTT将增加包括个人在内的投资者的交易成本，削弱我们资本市场的竞争力，并在我们努力从这场大流行中复苏之际损害美国经济。”</blockquote></p><p> <b>Some countries tried and failed</b></p><p><blockquote><b>一些国家尝试过，但失败了</b></blockquote></p><p></p><p> James Angel, a Georgetown University professor who specializes in market structure and regulation,authored a Chamber of Commerce-funded paper in 2019&nbsp;that found a financial transaction tax would hurt Main Street by driving up the cost of trading by more than the amount of the tax.</p><p><blockquote>专门研究市场结构和监管的乔治敦大学教授詹姆斯·安吉尔(James Angel)在2019年撰写了一篇由商会资助的论文，该论文发现金融交易税会使交易成本上升超过税额，从而损害大街。</blockquote></p><p> \"There is no such thing as a tiny tax that raises big revenue,\" Angel said in an interview.</p><p><blockquote>安吉尔在接受采访时表示：“没有所谓的小额税收可以增加巨额收入。”</blockquote></p><p> He pointed to how some other countries, most notably Sweden in the 1980s, abandoned such taxes after trading volume vanished and revenue underwhelmed. (Of course, the United States, with its deep financial markets, massive economy and the world's reserve currency, is not Sweden.)</p><p><blockquote>他指出，其他一些国家，尤其是20世纪80年代的瑞典，在交易量消失、收入低迷后，如何放弃此类税收。（当然，拥有深厚金融市场、庞大经济和世界储备货币的美国不是瑞典。）</blockquote></p><p> \"It really messes up the market,\" Angel said.</p><p><blockquote>“这确实扰乱了市场，”安吉尔说。</blockquote></p><p> If US trading volumes fell sharply, the FTT wouldn't raise nearly as much as the $777 billion the CBO estimates.</p><p><blockquote>如果美国交易量大幅下降，FTT筹集的资金将不会达到CBO估计的7770亿美元。</blockquote></p><p> Greg Valliere, chief US policy strategist at AGF Investments, said the chances of a financial transaction tax are \"very slim\" because moderate Democrats would be unlikely to back it.</p><p><blockquote>AGF Investments首席美国政策策略师Greg Valliere表示，征收金融交易税的可能性“非常小”，因为温和的民主党人不太可能支持它。</blockquote></p><p> \"It would be a disaster. It's a pandora's box that should not be opened,\" Valliere said.</p><p><blockquote>“这将是一场灾难。这是一个潘多拉的盒子，不应该被打开，”瓦利埃说。</blockquote></p><p> Of course, it's possible that FTT proposals in Congress get scaled back, including by lowering the rate or excluding smaller blocks of trades.</p><p><blockquote>当然，国会的FTT提案可能会被缩减，包括降低利率或排除较小的交易。</blockquote></p><p> <b>Leveling the playing field</b></p><p><blockquote><b>公平竞争环境</b></blockquote></p><p> During last week's congressional hearing on GameStop and Robinhood, Citadel Securities founder&nbsp;Ken Griffin warned a tax would boomerang.</p><p><blockquote>在上周关于游戏驿站和Robinhood的国会听证会上，Citadel Securities创始人Ken Griffin警告称，征税将适得其反。</blockquote></p><p> \"We firmly believe a financial transaction tax would injure Americans trying to save for retirement,\" Griffin said.</p><p><blockquote>格里芬说：“我们坚信金融交易税会伤害试图为退休储蓄的美国人。”</blockquote></p><p> Klein, the Brookings Institution fellow, called Griffin's comments a \"self-serving lie\" because high-frequency trading firms like his would be among those hurt.</p><p><blockquote>布鲁金斯学会研究员克莱因称格里芬的言论是“自私的谎言”，因为像他这样的高频交易公司也会受到伤害。</blockquote></p><p> The GameStop trading frenzy drew attention onto how Robinhood was able to bring zero-commission trading to the masses.</p><p><blockquote>游戏驿站交易狂潮引起了人们对Robinhood如何将零佣金交易带给大众的关注。</blockquote></p><p> Through a&nbsp;controversial practice known as payment for order flow, Robinhood and other brokers get paid to route retail trades through market makers like Citadel Securities.</p><p><blockquote>通过一种被称为订单流支付的有争议的做法，Robinhood和其他经纪商通过Citadel Securities等做市商进行零售交易获得报酬。</blockquote></p><p> Payment for order flow has made it cheap and easy to trade. However, critics say it's really Wall Street that is getting the better end of the deal by skimming pennies off each trade and racing ahead of retail orders to make a profit.</p><p><blockquote>订单流的支付使得交易变得便宜和容易。然而，批评人士表示，华尔街确实通过从每笔交易中榨取几分钱并抢先零售订单来获利，从而获得了更好的结果。</blockquote></p><p> \"We believe the markets today are rigged to favor high-frequency traders,\" said Kelleher, the Better Markets CEO. \"The industry has taken visible upfront commission fees and disguised it into invisible payment for order flow.\"</p><p><blockquote>Better Markets首席执行官凯莱赫表示：“我们认为，当今的市场受到操纵，有利于高频交易者。”“行业将看得见的前期佣金费用，伪装成订单流的隐形支付。”</blockquote></p><p> In other words, it's not really free to trade.</p><p><blockquote>换句话说，它并不是真正的自由交易。</blockquote></p><p> Kelleher thinks Congress should focus on taxing orders, not transactions, because a&nbsp;staggering amount of all stock trade orders(some estimates&nbsp;say 99%) are canceled because of high-frequency trading strategies. Critics say those orders are evidence that high-speed traders are manipulating the market by creating the appearance of demand where there is none.</p><p><blockquote>凯莱赫认为国会应该专注于对订单征税，而不是对交易征税，因为所有股票交易订单中有惊人数量（有人估计为99%）因高频交易策略而被取消。批评人士表示，这些订单证明高速交易者正在操纵市场，在没有需求的情况下制造需求的表象。</blockquote></p><p> \"A financial fee on orders could be the death knell for predatory high frequency trading,\" he said. \"Everyone will be better off — except for the predators.\"</p><p><blockquote>“订单的财务费用可能是掠夺性高频交易的丧钟，”他说。“每个人都会过得更好——除了掠食者。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/02/22/investing/gamestop-financial-transaction-tax/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","GME":"游戏驿站",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/02/22/investing/gamestop-financial-transaction-tax/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129494437","content_text":"New York (CNN Business)-Uncle Sam is in search for a pot of gold that could ease the pain of trillion-dollar deficits. And some believe Wall Street might just have the answer.\nFor more than a decade, progressives have tried and failed to impose a financial transaction tax.But there is new momentum for such a levy as the national debt skyrockets during the pandemic and in the wake of the GameStop trading frenzy that shined a bright light market structure concerns.\nThe White House told CNN Business on Sunday that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.\nBut there is a deep divide over the wisdom of a financial transaction tax. Progressives see it as a smart way to simultaneously curb predatory trading while funding ambitious programs aimed at easing America's inequality problem.Opponents, on the other hand, paint a financial transaction tax (FTT) as a nightmare. Wall Street, which would take a hit, is already warning such a levy would backfire on Main Street by raising trading costs and depressing market liquidity.\n\"The odds are still against a financial transaction tax being enacted, but for the first time in a decade this proposal should be considered as a viable policy option rather than just another talking point,\" said Isaac Boltansky, director of policy research at Compass Point Research & Trading.\nLast week, House Financial Services Chairwoman Maxine Waters said she's \"very interested\" and \"certainly looking at\" a financial transaction tax.\n'Mindboggling' concentration of wealth\nLawmakers will surely be tempted to tax transactions because it could raise vast sums of money at a time when Washington is strapped for cash.\nA 0.1% tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office.\n\"We have tremendous income inequality in our society and a giant deficit. A financial transaction tax would be an incredibly efficient and progressive way to raise revenue,\" Aaron Klein, a former Treasury Department official in the Obama administration, told CNN Business.\nThe top 1% of American households would pay 40% of the total amount of the tax, while the bottom 60% would pay just over 11%, according to the Urban-Brookings Tax Policy Center.\nThat makes sense because the wealthiest 10% of US households owned 87% of all stocks and mutual funds, according to 2020 data from the Federal Reserve.\n\"The concentration of wealth in the stock market is mindboggling,\" said Klein, who is now a senior fellow of economic studies at the Brookings Institution.\nEven though some argue an FTT would be a disaster, the United States already has a tax, albeit a very tiny one. Roughly 2 cents per $1,000 traded goes toward funding the budget of the Securities and Exchange Commission.Due to surging trading volume during the pandemic, the tax rate to fund the SEC is being lowered to just half a cent per $1,000 starting Thursday.\n\"There is a fee today and the world hasn't ended,\" said Dennis Kelleher, CEO of Better Markets, a group that lobbies for tougher oversight of Wall Street. \"The proposed fee is so puny that no reasonable retail investor would ever notice it.\"\n'Unintended consequences'\nThe financial industry is arguing the exact opposite.\nThey say even a 0.1% levy on transactions will cause market players to pass the costs on to consumers and make it harder to buy and sell securities by decreasing liquidity, which measures how easy it is to buy and sell securities. Some Wall Street firms could even try to move their operations outside the country to avoid the tax. The New York Stock Exchange recently threatened to flee New York,possibly for Texas, in response to transaction taxes mulled by Albany.\n\"This approach has a long history of unintended consequences that will penalize workers, pensioners and American families,\" a spokesperson for the Coalition to Prevent the Taxing of Retirement Savings told CNN Business.\nThat coalition includes the NYSE,Nasdaq (NDAQ) and UBS (UBS). Citadel Securities andVirtu Financial(VIRT), two high-speed trading firms that would be hurt by a financial transaction tax, are also members.\n\"An FTT will increase trading costs for investors — including individuals — undermine the competitiveness of our capital markets and harm the US economy just as we work to recover from this pandemic,\" the spokesperson said.\nSome countries tried and failed\nJames Angel, a Georgetown University professor who specializes in market structure and regulation,authored a Chamber of Commerce-funded paper in 2019 that found a financial transaction tax would hurt Main Street by driving up the cost of trading by more than the amount of the tax.\n\"There is no such thing as a tiny tax that raises big revenue,\" Angel said in an interview.\nHe pointed to how some other countries, most notably Sweden in the 1980s, abandoned such taxes after trading volume vanished and revenue underwhelmed. (Of course, the United States, with its deep financial markets, massive economy and the world's reserve currency, is not Sweden.)\n\"It really messes up the market,\" Angel said.\nIf US trading volumes fell sharply, the FTT wouldn't raise nearly as much as the $777 billion the CBO estimates.\nGreg Valliere, chief US policy strategist at AGF Investments, said the chances of a financial transaction tax are \"very slim\" because moderate Democrats would be unlikely to back it.\n\"It would be a disaster. It's a pandora's box that should not be opened,\" Valliere said.\nOf course, it's possible that FTT proposals in Congress get scaled back, including by lowering the rate or excluding smaller blocks of trades.\nLeveling the playing field\nDuring last week's congressional hearing on GameStop and Robinhood, Citadel Securities founder Ken Griffin warned a tax would boomerang.\n\"We firmly believe a financial transaction tax would injure Americans trying to save for retirement,\" Griffin said.\nKlein, the Brookings Institution fellow, called Griffin's comments a \"self-serving lie\" because high-frequency trading firms like his would be among those hurt.\nThe GameStop trading frenzy drew attention onto how Robinhood was able to bring zero-commission trading to the masses.\nThrough a controversial practice known as payment for order flow, Robinhood and other brokers get paid to route retail trades through market makers like Citadel Securities.\nPayment for order flow has made it cheap and easy to trade. However, critics say it's really Wall Street that is getting the better end of the deal by skimming pennies off each trade and racing ahead of retail orders to make a profit.\n\"We believe the markets today are rigged to favor high-frequency traders,\" said Kelleher, the Better Markets CEO. \"The industry has taken visible upfront commission fees and disguised it into invisible payment for order flow.\"\nIn other words, it's not really free to trade.\nKelleher thinks Congress should focus on taxing orders, not transactions, because a staggering amount of all stock trade orders(some estimates say 99%) are canceled because of high-frequency trading strategies. Critics say those orders are evidence that high-speed traders are manipulating the market by creating the appearance of demand where there is none.\n\"A financial fee on orders could be the death knell for predatory high frequency trading,\" he said. \"Everyone will be better off — except for the predators.\"","news_type":1,"symbols_score_info":{".IXIC":0.9,"GME":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":844,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360418802,"gmtCreate":1613964012306,"gmtModify":1634551738934,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Good good","listText":"Good good","text":"Good good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360418802","repostId":"1184992729","repostType":4,"repost":{"id":"1184992729","kind":"news","pubTimestamp":1613961671,"share":"https://www.laohu8.com/m/news/1184992729?lang=zh_CN&edition=full","pubTime":"2021-02-22 10:41","market":"us","language":"en","title":"GameStop Craze Puts Holders of Retail ETF on Wild Ride<blockquote>游戏驿站热潮让零售ETF持有者陷入疯狂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184992729","media":"The Wall Street Journal","summary":"State Street’s SPDR S&P Retail ETF shares have surged 23% this year\nGameStop mania has spilled over ","content":"<p>State Street’s SPDR S&amp;P Retail ETF shares have surged 23% this year</p><p><blockquote>道富银行SPDR S&amp;P Retail ETF股价今年飙升23%</blockquote></p><p> GameStop mania has spilled over into a popular exchange-traded fund, as the WallStreetBets craze reaches beyond shares favored on social media.</p><p><blockquote>随着WallStreetBets热潮超出了社交媒体上青睐的股票，游戏驿站热潮已蔓延至受欢迎的交易所交易基金。</blockquote></p><p> The fund, State Street ’s SPDR S&amp;P Retail ETF, was created in 2006 to give investors broad exposure to mall-store firms. Its shares have surged 23% this year, far outstripping a 4% gain in the S&amp;P 500, despite the uncertain outlook for retail. Behind those gains are the traders who congregate on social-media platforms such as Reddit’s WallStreetBets forum and whose enthusiasm has turned this mundane investment into a roller coaster.</p><p><blockquote>该基金是道富银行的SPDR S&amp;P Retail ETF，成立于2006年，旨在为投资者提供对购物中心公司的广泛投资。尽管零售业前景不确定，但其股价今年已飙升23%，远远超过标普500 4%的涨幅。这些收益的背后是聚集在Reddit的WallStreetBets论坛等社交媒体平台上的交易者，他们的热情将这项平凡的投资变成了过山车。</blockquote></p><p> On Jan. 27, GameStopsoared 135%, driven by events such as Tesla Inc. Chief Executive Elon Musk tweeting “Gamestonk.” The State Street fund jumped 42% the same day. The next day, GameStop shares tumbled 44% and the fund, known by its ticker XRT, dropped about 9%.</p><p><blockquote>1月27日，在特斯拉首席执行官Elon Musk在推特上发布“Gamestonk”等事件的推动下，GameStop飙升135%。道富基金当天上涨42%。第二天，游戏驿站股价下跌44%，该基金（股票代码为XRT）下跌约9%。</blockquote></p><p> On Jan. 28, the fund suffered its largest single-day outflow in more than a decade, according to FactSet. Three-quarters of the money in the fund flowed out, amounting to $506 million in redemptions, driven in part by what some analysts describe as a frantic rush by traders to liquidate the ETF—whose price at times traded at discounts rarely seen in this part of the world—to get their hands on underlying GameStop shares.</p><p><blockquote>FactSet的数据显示，1月28日，该基金遭遇了十多年来最大的单日资金流出。该基金四分之三的资金流出，赎回金额达5.06亿美元，部分原因是一些分析师所说的交易员疯狂地急于清算该ETF——该ETF的价格有时会出现在该地区罕见的折扣。世界的一部分——以获得游戏驿站的基础股票。</blockquote></p><p> The whipsaw trading highlights how the mania in WallStreetBets favorites like GameStop can drive pricing in other investments, in this case one typically preferred by investors seeking portfolio diversification and targeted exposure to industry sectors. GameStop shares, long viewed as an also-ran by many investors in a world dominated by Amazon and Costco , at one point this year accounted for 20% of the State Street fund.</p><p><blockquote>拉锯交易凸显了游戏驿站等WallStreetBets最喜欢的投资的狂热如何推动其他投资的定价，在这种情况下，寻求投资组合多元化和有针对性地投资行业的投资者通常更喜欢这种投资。在Amazon和Costco主导的世界中，游戏驿站股票长期以来被许多投资者视为失败者，但今年一度占道富基金的20%。</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>GameStop Craze Puts Holders of Retail ETF on Wild Ride<blockquote>游戏驿站热潮让零售ETF持有者陷入疯狂</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\">\nGameStop Craze Puts Holders of Retail ETF on Wild Ride<blockquote>游戏驿站热潮让零售ETF持有者陷入疯狂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-02-22 10:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>State Street’s SPDR S&amp;P Retail ETF shares have surged 23% this year</p><p><blockquote>道富银行SPDR S&amp;P Retail ETF股价今年飙升23%</blockquote></p><p> GameStop mania has spilled over into a popular exchange-traded fund, as the WallStreetBets craze reaches beyond shares favored on social media.</p><p><blockquote>随着WallStreetBets热潮超出了社交媒体上青睐的股票，游戏驿站热潮已蔓延至受欢迎的交易所交易基金。</blockquote></p><p> The fund, State Street ’s SPDR S&amp;P Retail ETF, was created in 2006 to give investors broad exposure to mall-store firms. Its shares have surged 23% this year, far outstripping a 4% gain in the S&amp;P 500, despite the uncertain outlook for retail. Behind those gains are the traders who congregate on social-media platforms such as Reddit’s WallStreetBets forum and whose enthusiasm has turned this mundane investment into a roller coaster.</p><p><blockquote>该基金是道富银行的SPDR S&amp;P Retail ETF，成立于2006年，旨在为投资者提供对购物中心公司的广泛投资。尽管零售业前景不确定，但其股价今年已飙升23%，远远超过标普500 4%的涨幅。这些收益的背后是聚集在Reddit的WallStreetBets论坛等社交媒体平台上的交易者，他们的热情将这项平凡的投资变成了过山车。</blockquote></p><p> On Jan. 27, GameStopsoared 135%, driven by events such as Tesla Inc. Chief Executive Elon Musk tweeting “Gamestonk.” The State Street fund jumped 42% the same day. The next day, GameStop shares tumbled 44% and the fund, known by its ticker XRT, dropped about 9%.</p><p><blockquote>1月27日，在特斯拉首席执行官Elon Musk在推特上发布“Gamestonk”等事件的推动下，GameStop飙升135%。道富基金当天上涨42%。第二天，游戏驿站股价下跌44%，该基金（股票代码为XRT）下跌约9%。</blockquote></p><p> On Jan. 28, the fund suffered its largest single-day outflow in more than a decade, according to FactSet. Three-quarters of the money in the fund flowed out, amounting to $506 million in redemptions, driven in part by what some analysts describe as a frantic rush by traders to liquidate the ETF—whose price at times traded at discounts rarely seen in this part of the world—to get their hands on underlying GameStop shares.</p><p><blockquote>FactSet的数据显示，1月28日，该基金遭遇了十多年来最大的单日资金流出。该基金四分之三的资金流出，赎回金额达5.06亿美元，部分原因是一些分析师所说的交易员疯狂地急于清算该ETF——该ETF的价格有时会出现在该地区罕见的折扣。世界的一部分——以获得游戏驿站的基础股票。</blockquote></p><p> The whipsaw trading highlights how the mania in WallStreetBets favorites like GameStop can drive pricing in other investments, in this case one typically preferred by investors seeking portfolio diversification and targeted exposure to industry sectors. GameStop shares, long viewed as an also-ran by many investors in a world dominated by Amazon and Costco , at one point this year accounted for 20% of the State Street fund.</p><p><blockquote>拉锯交易凸显了游戏驿站等WallStreetBets最喜欢的投资的狂热如何推动其他投资的定价，在这种情况下，寻求投资组合多元化和有针对性地投资行业的投资者通常更喜欢这种投资。在Amazon和Costco主导的世界中，游戏驿站股票长期以来被许多投资者视为失败者，但今年一度占道富基金的20%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/gamestop-craze-puts-holders-of-retail-etf-on-wild-ride-11613923200?mod=hp_lead_pos7\">The Wall Street Journal</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":{"AMC":"AMC院线",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","GME":"游戏驿站",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/gamestop-craze-puts-holders-of-retail-etf-on-wild-ride-11613923200?mod=hp_lead_pos7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184992729","content_text":"State Street’s SPDR S&P Retail ETF shares have surged 23% this year\nGameStop mania has spilled over into a popular exchange-traded fund, as the WallStreetBets craze reaches beyond shares favored on social media.\nThe fund, State Street ’s SPDR S&P Retail ETF, was created in 2006 to give investors broad exposure to mall-store firms. Its shares have surged 23% this year, far outstripping a 4% gain in the S&P 500, despite the uncertain outlook for retail. Behind those gains are the traders who congregate on social-media platforms such as Reddit’s WallStreetBets forum and whose enthusiasm has turned this mundane investment into a roller coaster.\nOn Jan. 27, GameStopsoared 135%, driven by events such as Tesla Inc. Chief Executive Elon Musk tweeting “Gamestonk.” The State Street fund jumped 42% the same day. The next day, GameStop shares tumbled 44% and the fund, known by its ticker XRT, dropped about 9%.\nOn Jan. 28, the fund suffered its largest single-day outflow in more than a decade, according to FactSet. Three-quarters of the money in the fund flowed out, amounting to $506 million in redemptions, driven in part by what some analysts describe as a frantic rush by traders to liquidate the ETF—whose price at times traded at discounts rarely seen in this part of the world—to get their hands on underlying GameStop shares.\nThe whipsaw trading highlights how the mania in WallStreetBets favorites like GameStop can drive pricing in other investments, in this case one typically preferred by investors seeking portfolio diversification and targeted exposure to industry sectors. GameStop shares, long viewed as an also-ran by many investors in a world dominated by Amazon and Costco , at one point this year accounted for 20% of the State Street fund.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"AMC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":756,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387762964,"gmtCreate":1613787684258,"gmtModify":1634552232183,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>so happy","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>so happy","text":"$Tiger Brokers(TIGR)$so 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10:42","market":"us","language":"en","title":"After the GameStop fiasco, momentum builds for an $800 billion tax<blockquote>游戏驿站惨败后，8000亿美元税收势头增强</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129494437","media":"CNN Business","summary":"New York (CNN Business)-Uncle Sam is in search for a pot of gold that could ease the pain of trillio","content":"<p><b>New York (CNN Business)-</b>Uncle Sam is in search for a pot of gold that could ease the pain of trillion-dollar deficits. And some believe Wall Street might just have the answer.</p><p><blockquote><b>纽约（CNN商业）——</b>山姆大叔正在寻找一桶金来缓解数万亿美元赤字的痛苦。一些人认为华尔街可能有答案。</blockquote></p><p> For more than a decade, progressives have&nbsp;tried and failed to impose a financial transaction tax.But there is new momentum for such a levy as the&nbsp;national debt skyrockets&nbsp;during the pandemic and in the wake of the&nbsp;GameStop trading frenzy&nbsp;that&nbsp;shined a bright light market structure concerns.</p><p><blockquote>十多年来，进步人士一直试图征收金融交易税，但都失败了。但随着疫情期间国债飙升以及游戏驿站交易狂潮引发市场结构担忧，此类征税出现了新的动力。</blockquote></p><p> The White House told CNN Business on Sunday&nbsp;that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.</p><p><blockquote>白宫周日告诉CNN Business，对类似游戏驿站的交易征收金融交易税值得进一步研究，并且可以成为对此类税收的收入和市场稳定进行更大评估的一部分。主要提案相当于对每1000美元的交易征收1美元的税。</blockquote></p><p> But there is a deep divide over the wisdom of a financial transaction tax. Progressives see it as a smart way to simultaneously curb predatory trading while funding ambitious programs aimed at easing America's inequality problem.Opponents, on the other hand, paint a financial transaction tax (FTT) as a nightmare. Wall Street, which would take a hit, is already warning such a levy&nbsp;would backfire on Main Street&nbsp;by raising trading costs and depressing market liquidity.</p><p><blockquote>但对于金融交易税的明智性存在很大分歧。进步人士认为这是一种明智的方式，可以同时遏制掠夺性交易，同时为旨在缓解美国不平等问题的雄心勃勃的计划提供资金。另一方面，反对者将金融交易税（FTT）描绘成一场噩梦。将受到打击的华尔街已经警告称，此类征税将提高交易成本并抑制市场流动性，从而对大街产生适得其反的效果。</blockquote></p><p> \"The odds are still against a financial transaction tax being enacted, but for the first time in a decade this proposal should be considered as a viable policy option rather than just another talking point,\" said Isaac Boltansky, director of policy research at Compass Point Research &amp; Trading.</p><p><blockquote>Compass Point政策研究总监艾萨克·博尔坦斯基(Isaac Boltansky)表示：“颁布金融交易税的可能性仍然很小，但十年来第一次，这项提案应该被视为一种可行的政策选择，而不仅仅是另一个话题。”研究与交易。</blockquote></p><p> Last week, House Financial Services Chairwoman Maxine Waters said she's \"very interested\" and \"certainly looking at\" a financial transaction tax.</p><p><blockquote>上周，众议院金融服务主席玛克辛·沃特斯表示，她“非常感兴趣”并且“肯定会考虑”金融交易税。</blockquote></p><p> <b>'Mindboggling' concentration of wealth</b></p><p><blockquote><b>“令人难以置信”的财富集中</b></blockquote></p><p> Lawmakers will surely be tempted to tax transactions because it could raise vast sums of money at a time when Washington is strapped for cash.</p><p><blockquote>立法者肯定会被诱惑对交易征税，因为在华盛顿现金短缺的时候，这可能会筹集巨额资金。</blockquote></p><p> A 0.1% tax on stock, bond and derivative transactions&nbsp;could raise $777 billion for the federal government over a decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office.</p><p><blockquote>根据无党派国会预算办公室2018年的估计，对股票、债券和衍生品交易征收0.1%的税可以在十年内为联邦政府筹集7770亿美元。</blockquote></p><p> \"We have tremendous income inequality in our society and a giant deficit. A financial transaction tax would be an incredibly efficient and progressive way to raise revenue,\" Aaron Klein, a former Treasury Department official in the Obama administration, told CNN Business.</p><p><blockquote>奥巴马政府前财政部官员亚伦·克莱因(Aaron Klein)告诉CNN Business：“我们的社会存在巨大的收入不平等和巨额赤字。金融交易税将是一种非常有效和渐进的增加收入的方式。”</blockquote></p><p> The top 1% of American households would pay 40% of the total amount of the tax, while the bottom 60% would pay just over 11%, according to the&nbsp;Urban-Brookings Tax Policy Center.</p><p><blockquote>根据Urban-Brookings税收政策中心的数据，收入最高的1%的美国家庭将支付总额的40%，而收入最低的60%的家庭将支付略高于11%的税收。</blockquote></p><p> That makes sense because the wealthiest 10% of US households owned 87% of all stocks and mutual funds, according to&nbsp;2020 data from the Federal Reserve.</p><p><blockquote>这是有道理的，因为根据美联储2020年的数据，美国最富有的10%家庭拥有87%的股票和共同基金。</blockquote></p><p> \"The concentration of wealth in the stock market is mindboggling,\" said Klein, who is now a senior fellow of economic studies at the Brookings Institution.</p><p><blockquote>“财富集中在股市令人难以置信，”现任布鲁金斯学会经济研究高级研究员的克莱因说。</blockquote></p><p> Even though some argue an FTT would be a disaster, the United States already has a tax, albeit a very tiny one. Roughly 2 cents per $1,000 traded goes toward&nbsp;funding the budget of the Securities and Exchange Commission.Due to surging trading volume during the pandemic, the&nbsp;tax rate to fund the SEC is being lowered&nbsp;to just half a cent per $1,000 starting Thursday.</p><p><blockquote>尽管有些人认为FTT将是一场灾难，但美国已经有了一项税收，尽管规模很小。每1,000美元的交易中大约有2美分用于资助美国证券交易委员会的预算。由于疫情期间交易量激增，从周四开始，为SEC提供资金的税率将降至每1,000美元仅半美分。</blockquote></p><p> \"There is a fee today and the world hasn't ended,\" said Dennis Kelleher, CEO of Better Markets, a group that lobbies for tougher oversight of Wall Street. \"The proposed fee is so puny that no reasonable retail investor would ever notice it.\"</p><p><blockquote>“今天有费用，世界还没有终结，”Better Markets首席执行官丹尼斯·凯莱赫(Dennis Kelleher)表示，该组织游说对华尔街进行更严格的监管。“拟议的费用如此之低，以至于任何理性的散户投资者都不会注意到它。”</blockquote></p><p> <b>'Unintended consequences'</b></p><p><blockquote><b>“意想不到的后果”</b></blockquote></p><p> The financial industry is arguing the exact opposite.</p><p><blockquote>金融业的观点恰恰相反。</blockquote></p><p> They say even a 0.1% levy on transactions will cause market players to pass the costs on to consumers and make it harder to buy and sell securities by decreasing liquidity, which measures how easy it is to buy and sell securities. Some Wall Street firms could even try to move their operations outside the country to avoid the tax. The&nbsp;New York Stock Exchange recently threatened to flee&nbsp;New York,possibly for Texas, in response to transaction taxes mulled by Albany.</p><p><blockquote>他们表示，即使对交易征收0.1%的税，也会导致市场参与者将成本转嫁给消费者，并通过减少流动性（衡量买卖证券的难易程度）来增加买卖证券的难度。一些华尔街公司甚至可能试图将业务转移到国外以避税。纽约证券交易所最近威胁要逃离纽约，可能前往德克萨斯州，以回应奥尔巴尼考虑的交易税。</blockquote></p><p> \"This approach has a long history of unintended consequences that will penalize workers, pensioners and American families,\" a spokesperson for the Coalition to Prevent the Taxing of Retirement Savings told CNN Business.</p><p><blockquote>防止退休储蓄征税联盟的一位发言人告诉美国有线电视新闻网商业频道：“这种做法长期以来一直会产生意想不到的后果，这将惩罚工人、养老金领取者和美国家庭。”</blockquote></p><p> That coalition includes the NYSE,Nasdaq&nbsp;(NDAQ)&nbsp;and&nbsp;UBS&nbsp;(UBS). Citadel Securities andVirtu Financial(VIRT), two high-speed trading firms that would be hurt by a financial transaction tax, are also members.</p><p><blockquote>该联盟包括纽约证券交易所、纳斯达克(NDAQ)和瑞银(UBS)。Citadel Securities和Virtu Financial(VIRT)这两家将受到金融交易税损害的高速交易公司也是会员。</blockquote></p><p> \"An FTT will increase trading costs for investors — including individuals — undermine the competitiveness of our capital markets and harm the US economy just as we work to recover from this pandemic,\" the spokesperson said.</p><p><blockquote>该发言人表示：“FTT将增加包括个人在内的投资者的交易成本，削弱我们资本市场的竞争力，并在我们努力从这场大流行中复苏之际损害美国经济。”</blockquote></p><p> <b>Some countries tried and failed</b></p><p><blockquote><b>一些国家尝试过，但失败了</b></blockquote></p><p></p><p> James Angel, a Georgetown University professor who specializes in market structure and regulation,authored a Chamber of Commerce-funded paper in 2019&nbsp;that found a financial transaction tax would hurt Main Street by driving up the cost of trading by more than the amount of the tax.</p><p><blockquote>专门研究市场结构和监管的乔治敦大学教授詹姆斯·安吉尔(James Angel)在2019年撰写了一篇由商会资助的论文，该论文发现金融交易税会使交易成本上升超过税额，从而损害大街。</blockquote></p><p> \"There is no such thing as a tiny tax that raises big revenue,\" Angel said in an interview.</p><p><blockquote>安吉尔在接受采访时表示：“没有所谓的小额税收可以增加巨额收入。”</blockquote></p><p> He pointed to how some other countries, most notably Sweden in the 1980s, abandoned such taxes after trading volume vanished and revenue underwhelmed. (Of course, the United States, with its deep financial markets, massive economy and the world's reserve currency, is not Sweden.)</p><p><blockquote>他指出，其他一些国家，尤其是20世纪80年代的瑞典，在交易量消失、收入低迷后，如何放弃此类税收。（当然，拥有深厚金融市场、庞大经济和世界储备货币的美国不是瑞典。）</blockquote></p><p> \"It really messes up the market,\" Angel said.</p><p><blockquote>“这确实扰乱了市场，”安吉尔说。</blockquote></p><p> If US trading volumes fell sharply, the FTT wouldn't raise nearly as much as the $777 billion the CBO estimates.</p><p><blockquote>如果美国交易量大幅下降，FTT筹集的资金将不会达到CBO估计的7770亿美元。</blockquote></p><p> Greg Valliere, chief US policy strategist at AGF Investments, said the chances of a financial transaction tax are \"very slim\" because moderate Democrats would be unlikely to back it.</p><p><blockquote>AGF Investments首席美国政策策略师Greg Valliere表示，征收金融交易税的可能性“非常小”，因为温和的民主党人不太可能支持它。</blockquote></p><p> \"It would be a disaster. It's a pandora's box that should not be opened,\" Valliere said.</p><p><blockquote>“这将是一场灾难。这是一个潘多拉的盒子，不应该被打开，”瓦利埃说。</blockquote></p><p> Of course, it's possible that FTT proposals in Congress get scaled back, including by lowering the rate or excluding smaller blocks of trades.</p><p><blockquote>当然，国会的FTT提案可能会被缩减，包括降低利率或排除较小的交易。</blockquote></p><p> <b>Leveling the playing field</b></p><p><blockquote><b>公平竞争环境</b></blockquote></p><p> During last week's congressional hearing on GameStop and Robinhood, Citadel Securities founder&nbsp;Ken Griffin warned a tax would boomerang.</p><p><blockquote>在上周关于游戏驿站和Robinhood的国会听证会上，Citadel Securities创始人Ken Griffin警告称，征税将适得其反。</blockquote></p><p> \"We firmly believe a financial transaction tax would injure Americans trying to save for retirement,\" Griffin said.</p><p><blockquote>格里芬说：“我们坚信金融交易税会伤害试图为退休储蓄的美国人。”</blockquote></p><p> Klein, the Brookings Institution fellow, called Griffin's comments a \"self-serving lie\" because high-frequency trading firms like his would be among those hurt.</p><p><blockquote>布鲁金斯学会研究员克莱因称格里芬的言论是“自私的谎言”，因为像他这样的高频交易公司也会受到伤害。</blockquote></p><p> The GameStop trading frenzy drew attention onto how Robinhood was able to bring zero-commission trading to the masses.</p><p><blockquote>游戏驿站交易狂潮引起了人们对Robinhood如何将零佣金交易带给大众的关注。</blockquote></p><p> Through a&nbsp;controversial practice known as payment for order flow, Robinhood and other brokers get paid to route retail trades through market makers like Citadel Securities.</p><p><blockquote>通过一种被称为订单流支付的有争议的做法，Robinhood和其他经纪商通过Citadel Securities等做市商进行零售交易获得报酬。</blockquote></p><p> Payment for order flow has made it cheap and easy to trade. However, critics say it's really Wall Street that is getting the better end of the deal by skimming pennies off each trade and racing ahead of retail orders to make a profit.</p><p><blockquote>订单流的支付使得交易变得便宜和容易。然而，批评人士表示，华尔街确实通过从每笔交易中榨取几分钱并抢先零售订单来获利，从而获得了更好的结果。</blockquote></p><p> \"We believe the markets today are rigged to favor high-frequency traders,\" said Kelleher, the Better Markets CEO. \"The industry has taken visible upfront commission fees and disguised it into invisible payment for order flow.\"</p><p><blockquote>Better Markets首席执行官凯莱赫表示：“我们认为，当今的市场受到操纵，有利于高频交易者。”“行业将看得见的前期佣金费用，伪装成订单流的隐形支付。”</blockquote></p><p> In other words, it's not really free to trade.</p><p><blockquote>换句话说，它并不是真正的自由交易。</blockquote></p><p> Kelleher thinks Congress should focus on taxing orders, not transactions, because a&nbsp;staggering amount of all stock trade orders(some estimates&nbsp;say 99%) are canceled because of high-frequency trading strategies. Critics say those orders are evidence that high-speed traders are manipulating the market by creating the appearance of demand where there is none.</p><p><blockquote>凯莱赫认为国会应该专注于对订单征税，而不是对交易征税，因为所有股票交易订单中有惊人数量（有人估计为99%）因高频交易策略而被取消。批评人士表示，这些订单证明高速交易者正在操纵市场，在没有需求的情况下制造需求的表象。</blockquote></p><p> \"A financial fee on orders could be the death knell for predatory high frequency trading,\" he said. \"Everyone will be better off — except for the predators.\"</p><p><blockquote>“订单的财务费用可能是掠夺性高频交易的丧钟，”他说。“每个人都会过得更好——除了掠食者。”</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>After the GameStop fiasco, momentum builds for an $800 billion tax<blockquote>游戏驿站惨败后，8000亿美元税收势头增强</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\">\nAfter the GameStop fiasco, momentum builds for an $800 billion tax<blockquote>游戏驿站惨败后，8000亿美元税收势头增强</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">CNN Business</strong><span class=\"h-time small\">2021-02-23 10:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>New York (CNN Business)-</b>Uncle Sam is in search for a pot of gold that could ease the pain of trillion-dollar deficits. And some believe Wall Street might just have the answer.</p><p><blockquote><b>纽约（CNN商业）——</b>山姆大叔正在寻找一桶金来缓解数万亿美元赤字的痛苦。一些人认为华尔街可能有答案。</blockquote></p><p> For more than a decade, progressives have&nbsp;tried and failed to impose a financial transaction tax.But there is new momentum for such a levy as the&nbsp;national debt skyrockets&nbsp;during the pandemic and in the wake of the&nbsp;GameStop trading frenzy&nbsp;that&nbsp;shined a bright light market structure concerns.</p><p><blockquote>十多年来，进步人士一直试图征收金融交易税，但都失败了。但随着疫情期间国债飙升以及游戏驿站交易狂潮引发市场结构担忧，此类征税出现了新的动力。</blockquote></p><p> The White House told CNN Business on Sunday&nbsp;that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.</p><p><blockquote>白宫周日告诉CNN Business，对类似游戏驿站的交易征收金融交易税值得进一步研究，并且可以成为对此类税收的收入和市场稳定进行更大评估的一部分。主要提案相当于对每1000美元的交易征收1美元的税。</blockquote></p><p> But there is a deep divide over the wisdom of a financial transaction tax. Progressives see it as a smart way to simultaneously curb predatory trading while funding ambitious programs aimed at easing America's inequality problem.Opponents, on the other hand, paint a financial transaction tax (FTT) as a nightmare. Wall Street, which would take a hit, is already warning such a levy&nbsp;would backfire on Main Street&nbsp;by raising trading costs and depressing market liquidity.</p><p><blockquote>但对于金融交易税的明智性存在很大分歧。进步人士认为这是一种明智的方式，可以同时遏制掠夺性交易，同时为旨在缓解美国不平等问题的雄心勃勃的计划提供资金。另一方面，反对者将金融交易税（FTT）描绘成一场噩梦。将受到打击的华尔街已经警告称，此类征税将提高交易成本并抑制市场流动性，从而对大街产生适得其反的效果。</blockquote></p><p> \"The odds are still against a financial transaction tax being enacted, but for the first time in a decade this proposal should be considered as a viable policy option rather than just another talking point,\" said Isaac Boltansky, director of policy research at Compass Point Research &amp; Trading.</p><p><blockquote>Compass Point政策研究总监艾萨克·博尔坦斯基(Isaac Boltansky)表示：“颁布金融交易税的可能性仍然很小，但十年来第一次，这项提案应该被视为一种可行的政策选择，而不仅仅是另一个话题。”研究与交易。</blockquote></p><p> Last week, House Financial Services Chairwoman Maxine Waters said she's \"very interested\" and \"certainly looking at\" a financial transaction tax.</p><p><blockquote>上周，众议院金融服务主席玛克辛·沃特斯表示，她“非常感兴趣”并且“肯定会考虑”金融交易税。</blockquote></p><p> <b>'Mindboggling' concentration of wealth</b></p><p><blockquote><b>“令人难以置信”的财富集中</b></blockquote></p><p> Lawmakers will surely be tempted to tax transactions because it could raise vast sums of money at a time when Washington is strapped for cash.</p><p><blockquote>立法者肯定会被诱惑对交易征税，因为在华盛顿现金短缺的时候，这可能会筹集巨额资金。</blockquote></p><p> A 0.1% tax on stock, bond and derivative transactions&nbsp;could raise $777 billion for the federal government over a decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office.</p><p><blockquote>根据无党派国会预算办公室2018年的估计，对股票、债券和衍生品交易征收0.1%的税可以在十年内为联邦政府筹集7770亿美元。</blockquote></p><p> \"We have tremendous income inequality in our society and a giant deficit. A financial transaction tax would be an incredibly efficient and progressive way to raise revenue,\" Aaron Klein, a former Treasury Department official in the Obama administration, told CNN Business.</p><p><blockquote>奥巴马政府前财政部官员亚伦·克莱因(Aaron Klein)告诉CNN Business：“我们的社会存在巨大的收入不平等和巨额赤字。金融交易税将是一种非常有效和渐进的增加收入的方式。”</blockquote></p><p> The top 1% of American households would pay 40% of the total amount of the tax, while the bottom 60% would pay just over 11%, according to the&nbsp;Urban-Brookings Tax Policy Center.</p><p><blockquote>根据Urban-Brookings税收政策中心的数据，收入最高的1%的美国家庭将支付总额的40%，而收入最低的60%的家庭将支付略高于11%的税收。</blockquote></p><p> That makes sense because the wealthiest 10% of US households owned 87% of all stocks and mutual funds, according to&nbsp;2020 data from the Federal Reserve.</p><p><blockquote>这是有道理的，因为根据美联储2020年的数据，美国最富有的10%家庭拥有87%的股票和共同基金。</blockquote></p><p> \"The concentration of wealth in the stock market is mindboggling,\" said Klein, who is now a senior fellow of economic studies at the Brookings Institution.</p><p><blockquote>“财富集中在股市令人难以置信，”现任布鲁金斯学会经济研究高级研究员的克莱因说。</blockquote></p><p> Even though some argue an FTT would be a disaster, the United States already has a tax, albeit a very tiny one. Roughly 2 cents per $1,000 traded goes toward&nbsp;funding the budget of the Securities and Exchange Commission.Due to surging trading volume during the pandemic, the&nbsp;tax rate to fund the SEC is being lowered&nbsp;to just half a cent per $1,000 starting Thursday.</p><p><blockquote>尽管有些人认为FTT将是一场灾难，但美国已经有了一项税收，尽管规模很小。每1,000美元的交易中大约有2美分用于资助美国证券交易委员会的预算。由于疫情期间交易量激增，从周四开始，为SEC提供资金的税率将降至每1,000美元仅半美分。</blockquote></p><p> \"There is a fee today and the world hasn't ended,\" said Dennis Kelleher, CEO of Better Markets, a group that lobbies for tougher oversight of Wall Street. \"The proposed fee is so puny that no reasonable retail investor would ever notice it.\"</p><p><blockquote>“今天有费用，世界还没有终结，”Better Markets首席执行官丹尼斯·凯莱赫(Dennis Kelleher)表示，该组织游说对华尔街进行更严格的监管。“拟议的费用如此之低，以至于任何理性的散户投资者都不会注意到它。”</blockquote></p><p> <b>'Unintended consequences'</b></p><p><blockquote><b>“意想不到的后果”</b></blockquote></p><p> The financial industry is arguing the exact opposite.</p><p><blockquote>金融业的观点恰恰相反。</blockquote></p><p> They say even a 0.1% levy on transactions will cause market players to pass the costs on to consumers and make it harder to buy and sell securities by decreasing liquidity, which measures how easy it is to buy and sell securities. Some Wall Street firms could even try to move their operations outside the country to avoid the tax. The&nbsp;New York Stock Exchange recently threatened to flee&nbsp;New York,possibly for Texas, in response to transaction taxes mulled by Albany.</p><p><blockquote>他们表示，即使对交易征收0.1%的税，也会导致市场参与者将成本转嫁给消费者，并通过减少流动性（衡量买卖证券的难易程度）来增加买卖证券的难度。一些华尔街公司甚至可能试图将业务转移到国外以避税。纽约证券交易所最近威胁要逃离纽约，可能前往德克萨斯州，以回应奥尔巴尼考虑的交易税。</blockquote></p><p> \"This approach has a long history of unintended consequences that will penalize workers, pensioners and American families,\" a spokesperson for the Coalition to Prevent the Taxing of Retirement Savings told CNN Business.</p><p><blockquote>防止退休储蓄征税联盟的一位发言人告诉美国有线电视新闻网商业频道：“这种做法长期以来一直会产生意想不到的后果，这将惩罚工人、养老金领取者和美国家庭。”</blockquote></p><p> That coalition includes the NYSE,Nasdaq&nbsp;(NDAQ)&nbsp;and&nbsp;UBS&nbsp;(UBS). Citadel Securities andVirtu Financial(VIRT), two high-speed trading firms that would be hurt by a financial transaction tax, are also members.</p><p><blockquote>该联盟包括纽约证券交易所、纳斯达克(NDAQ)和瑞银(UBS)。Citadel Securities和Virtu Financial(VIRT)这两家将受到金融交易税损害的高速交易公司也是会员。</blockquote></p><p> \"An FTT will increase trading costs for investors — including individuals — undermine the competitiveness of our capital markets and harm the US economy just as we work to recover from this pandemic,\" the spokesperson said.</p><p><blockquote>该发言人表示：“FTT将增加包括个人在内的投资者的交易成本，削弱我们资本市场的竞争力，并在我们努力从这场大流行中复苏之际损害美国经济。”</blockquote></p><p> <b>Some countries tried and failed</b></p><p><blockquote><b>一些国家尝试过，但失败了</b></blockquote></p><p></p><p> James Angel, a Georgetown University professor who specializes in market structure and regulation,authored a Chamber of Commerce-funded paper in 2019&nbsp;that found a financial transaction tax would hurt Main Street by driving up the cost of trading by more than the amount of the tax.</p><p><blockquote>专门研究市场结构和监管的乔治敦大学教授詹姆斯·安吉尔(James Angel)在2019年撰写了一篇由商会资助的论文，该论文发现金融交易税会使交易成本上升超过税额，从而损害大街。</blockquote></p><p> \"There is no such thing as a tiny tax that raises big revenue,\" Angel said in an interview.</p><p><blockquote>安吉尔在接受采访时表示：“没有所谓的小额税收可以增加巨额收入。”</blockquote></p><p> He pointed to how some other countries, most notably Sweden in the 1980s, abandoned such taxes after trading volume vanished and revenue underwhelmed. (Of course, the United States, with its deep financial markets, massive economy and the world's reserve currency, is not Sweden.)</p><p><blockquote>他指出，其他一些国家，尤其是20世纪80年代的瑞典，在交易量消失、收入低迷后，如何放弃此类税收。（当然，拥有深厚金融市场、庞大经济和世界储备货币的美国不是瑞典。）</blockquote></p><p> \"It really messes up the market,\" Angel said.</p><p><blockquote>“这确实扰乱了市场，”安吉尔说。</blockquote></p><p> If US trading volumes fell sharply, the FTT wouldn't raise nearly as much as the $777 billion the CBO estimates.</p><p><blockquote>如果美国交易量大幅下降，FTT筹集的资金将不会达到CBO估计的7770亿美元。</blockquote></p><p> Greg Valliere, chief US policy strategist at AGF Investments, said the chances of a financial transaction tax are \"very slim\" because moderate Democrats would be unlikely to back it.</p><p><blockquote>AGF Investments首席美国政策策略师Greg Valliere表示，征收金融交易税的可能性“非常小”，因为温和的民主党人不太可能支持它。</blockquote></p><p> \"It would be a disaster. It's a pandora's box that should not be opened,\" Valliere said.</p><p><blockquote>“这将是一场灾难。这是一个潘多拉的盒子，不应该被打开，”瓦利埃说。</blockquote></p><p> Of course, it's possible that FTT proposals in Congress get scaled back, including by lowering the rate or excluding smaller blocks of trades.</p><p><blockquote>当然，国会的FTT提案可能会被缩减，包括降低利率或排除较小的交易。</blockquote></p><p> <b>Leveling the playing field</b></p><p><blockquote><b>公平竞争环境</b></blockquote></p><p> During last week's congressional hearing on GameStop and Robinhood, Citadel Securities founder&nbsp;Ken Griffin warned a tax would boomerang.</p><p><blockquote>在上周关于游戏驿站和Robinhood的国会听证会上，Citadel Securities创始人Ken Griffin警告称，征税将适得其反。</blockquote></p><p> \"We firmly believe a financial transaction tax would injure Americans trying to save for retirement,\" Griffin said.</p><p><blockquote>格里芬说：“我们坚信金融交易税会伤害试图为退休储蓄的美国人。”</blockquote></p><p> Klein, the Brookings Institution fellow, called Griffin's comments a \"self-serving lie\" because high-frequency trading firms like his would be among those hurt.</p><p><blockquote>布鲁金斯学会研究员克莱因称格里芬的言论是“自私的谎言”，因为像他这样的高频交易公司也会受到伤害。</blockquote></p><p> The GameStop trading frenzy drew attention onto how Robinhood was able to bring zero-commission trading to the masses.</p><p><blockquote>游戏驿站交易狂潮引起了人们对Robinhood如何将零佣金交易带给大众的关注。</blockquote></p><p> Through a&nbsp;controversial practice known as payment for order flow, Robinhood and other brokers get paid to route retail trades through market makers like Citadel Securities.</p><p><blockquote>通过一种被称为订单流支付的有争议的做法，Robinhood和其他经纪商通过Citadel Securities等做市商进行零售交易获得报酬。</blockquote></p><p> Payment for order flow has made it cheap and easy to trade. However, critics say it's really Wall Street that is getting the better end of the deal by skimming pennies off each trade and racing ahead of retail orders to make a profit.</p><p><blockquote>订单流的支付使得交易变得便宜和容易。然而，批评人士表示，华尔街确实通过从每笔交易中榨取几分钱并抢先零售订单来获利，从而获得了更好的结果。</blockquote></p><p> \"We believe the markets today are rigged to favor high-frequency traders,\" said Kelleher, the Better Markets CEO. \"The industry has taken visible upfront commission fees and disguised it into invisible payment for order flow.\"</p><p><blockquote>Better Markets首席执行官凯莱赫表示：“我们认为，当今的市场受到操纵，有利于高频交易者。”“行业将看得见的前期佣金费用，伪装成订单流的隐形支付。”</blockquote></p><p> In other words, it's not really free to trade.</p><p><blockquote>换句话说，它并不是真正的自由交易。</blockquote></p><p> Kelleher thinks Congress should focus on taxing orders, not transactions, because a&nbsp;staggering amount of all stock trade orders(some estimates&nbsp;say 99%) are canceled because of high-frequency trading strategies. Critics say those orders are evidence that high-speed traders are manipulating the market by creating the appearance of demand where there is none.</p><p><blockquote>凯莱赫认为国会应该专注于对订单征税，而不是对交易征税，因为所有股票交易订单中有惊人数量（有人估计为99%）因高频交易策略而被取消。批评人士表示，这些订单证明高速交易者正在操纵市场，在没有需求的情况下制造需求的表象。</blockquote></p><p> \"A financial fee on orders could be the death knell for predatory high frequency trading,\" he said. \"Everyone will be better off — except for the predators.\"</p><p><blockquote>“订单的财务费用可能是掠夺性高频交易的丧钟，”他说。“每个人都会过得更好——除了掠食者。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://edition.cnn.com/2021/02/22/investing/gamestop-financial-transaction-tax/index.html\">CNN Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","GME":"游戏驿站",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://edition.cnn.com/2021/02/22/investing/gamestop-financial-transaction-tax/index.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129494437","content_text":"New York (CNN Business)-Uncle Sam is in search for a pot of gold that could ease the pain of trillion-dollar deficits. And some believe Wall Street might just have the answer.\nFor more than a decade, progressives have tried and failed to impose a financial transaction tax.But there is new momentum for such a levy as the national debt skyrockets during the pandemic and in the wake of the GameStop trading frenzy that shined a bright light market structure concerns.\nThe White House told CNN Business on Sunday that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.\nBut there is a deep divide over the wisdom of a financial transaction tax. Progressives see it as a smart way to simultaneously curb predatory trading while funding ambitious programs aimed at easing America's inequality problem.Opponents, on the other hand, paint a financial transaction tax (FTT) as a nightmare. Wall Street, which would take a hit, is already warning such a levy would backfire on Main Street by raising trading costs and depressing market liquidity.\n\"The odds are still against a financial transaction tax being enacted, but for the first time in a decade this proposal should be considered as a viable policy option rather than just another talking point,\" said Isaac Boltansky, director of policy research at Compass Point Research & Trading.\nLast week, House Financial Services Chairwoman Maxine Waters said she's \"very interested\" and \"certainly looking at\" a financial transaction tax.\n'Mindboggling' concentration of wealth\nLawmakers will surely be tempted to tax transactions because it could raise vast sums of money at a time when Washington is strapped for cash.\nA 0.1% tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade, according to a 2018 estimate by the nonpartisan Congressional Budget Office.\n\"We have tremendous income inequality in our society and a giant deficit. A financial transaction tax would be an incredibly efficient and progressive way to raise revenue,\" Aaron Klein, a former Treasury Department official in the Obama administration, told CNN Business.\nThe top 1% of American households would pay 40% of the total amount of the tax, while the bottom 60% would pay just over 11%, according to the Urban-Brookings Tax Policy Center.\nThat makes sense because the wealthiest 10% of US households owned 87% of all stocks and mutual funds, according to 2020 data from the Federal Reserve.\n\"The concentration of wealth in the stock market is mindboggling,\" said Klein, who is now a senior fellow of economic studies at the Brookings Institution.\nEven though some argue an FTT would be a disaster, the United States already has a tax, albeit a very tiny one. Roughly 2 cents per $1,000 traded goes toward funding the budget of the Securities and Exchange Commission.Due to surging trading volume during the pandemic, the tax rate to fund the SEC is being lowered to just half a cent per $1,000 starting Thursday.\n\"There is a fee today and the world hasn't ended,\" said Dennis Kelleher, CEO of Better Markets, a group that lobbies for tougher oversight of Wall Street. \"The proposed fee is so puny that no reasonable retail investor would ever notice it.\"\n'Unintended consequences'\nThe financial industry is arguing the exact opposite.\nThey say even a 0.1% levy on transactions will cause market players to pass the costs on to consumers and make it harder to buy and sell securities by decreasing liquidity, which measures how easy it is to buy and sell securities. Some Wall Street firms could even try to move their operations outside the country to avoid the tax. The New York Stock Exchange recently threatened to flee New York,possibly for Texas, in response to transaction taxes mulled by Albany.\n\"This approach has a long history of unintended consequences that will penalize workers, pensioners and American families,\" a spokesperson for the Coalition to Prevent the Taxing of Retirement Savings told CNN Business.\nThat coalition includes the NYSE,Nasdaq (NDAQ) and UBS (UBS). Citadel Securities andVirtu Financial(VIRT), two high-speed trading firms that would be hurt by a financial transaction tax, are also members.\n\"An FTT will increase trading costs for investors — including individuals — undermine the competitiveness of our capital markets and harm the US economy just as we work to recover from this pandemic,\" the spokesperson said.\nSome countries tried and failed\nJames Angel, a Georgetown University professor who specializes in market structure and regulation,authored a Chamber of Commerce-funded paper in 2019 that found a financial transaction tax would hurt Main Street by driving up the cost of trading by more than the amount of the tax.\n\"There is no such thing as a tiny tax that raises big revenue,\" Angel said in an interview.\nHe pointed to how some other countries, most notably Sweden in the 1980s, abandoned such taxes after trading volume vanished and revenue underwhelmed. (Of course, the United States, with its deep financial markets, massive economy and the world's reserve currency, is not Sweden.)\n\"It really messes up the market,\" Angel said.\nIf US trading volumes fell sharply, the FTT wouldn't raise nearly as much as the $777 billion the CBO estimates.\nGreg Valliere, chief US policy strategist at AGF Investments, said the chances of a financial transaction tax are \"very slim\" because moderate Democrats would be unlikely to back it.\n\"It would be a disaster. It's a pandora's box that should not be opened,\" Valliere said.\nOf course, it's possible that FTT proposals in Congress get scaled back, including by lowering the rate or excluding smaller blocks of trades.\nLeveling the playing field\nDuring last week's congressional hearing on GameStop and Robinhood, Citadel Securities founder Ken Griffin warned a tax would boomerang.\n\"We firmly believe a financial transaction tax would injure Americans trying to save for retirement,\" Griffin said.\nKlein, the Brookings Institution fellow, called Griffin's comments a \"self-serving lie\" because high-frequency trading firms like his would be among those hurt.\nThe GameStop trading frenzy drew attention onto how Robinhood was able to bring zero-commission trading to the masses.\nThrough a controversial practice known as payment for order flow, Robinhood and other brokers get paid to route retail trades through market makers like Citadel Securities.\nPayment for order flow has made it cheap and easy to trade. However, critics say it's really Wall Street that is getting the better end of the deal by skimming pennies off each trade and racing ahead of retail orders to make a profit.\n\"We believe the markets today are rigged to favor high-frequency traders,\" said Kelleher, the Better Markets CEO. \"The industry has taken visible upfront commission fees and disguised it into invisible payment for order flow.\"\nIn other words, it's not really free to trade.\nKelleher thinks Congress should focus on taxing orders, not transactions, because a staggering amount of all stock trade orders(some estimates say 99%) are canceled because of high-frequency trading strategies. Critics say those orders are evidence that high-speed traders are manipulating the market by creating the appearance of demand where there is none.\n\"A financial fee on orders could be the death knell for predatory high frequency trading,\" he said. \"Everyone will be better off — except for the predators.\"","news_type":1,"symbols_score_info":{".IXIC":0.9,"GME":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":844,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365074002,"gmtCreate":1614685322606,"gmtModify":1703479827766,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Meat","listText":"Meat","text":"Meat","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/365074002","repostId":"1198289081","repostType":4,"repost":{"id":"1198289081","kind":"news","pubTimestamp":1614676006,"share":"https://www.laohu8.com/m/news/1198289081?lang=zh_CN&edition=full","pubTime":"2021-03-02 17:06","market":"us","language":"en","title":"Beyond Meat Prepares for a High-Growth Phase<blockquote>Beyond Meat为高增长阶段做准备</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1198289081","media":"zacks","summary":"I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its","content":"<p>I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its shares around. Somehow, I really like the sound of “revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol.”</p><p><blockquote>我成为Beyond Meat（BYND）的粉丝已经有一段时间了，尽管疫情对其股价造成了疯狂的影响。不知何故，我真的很喜欢“革命性的植物性肉类由简单的成分制成，不含转基因生物、生物工程成分、激素、抗生素或胆固醇。”</blockquote></p><p>Everyone may not care for a meat substitute when they can have the real thing. But my feeling is that more and more people will have it at least sometimes, as a token to the environment, or out of animal love, or for health reasons. And when they do that, they might consider an offering from a popular brand name. Especially when it’s so easily available at the friendly neighborhood McDonalds (MCD Quick QuoteMCD-Free Report) . Or a KFC, or a Pizza Hut or, or a Taco Bell for that matter.</p><p><blockquote>当每个人都能拥有真正的肉类替代品时，他们可能不会喜欢肉类替代品。但我的感觉是，越来越多的人至少有时会拥有它，作为对环境的象征，或者出于对动物的热爱，或者出于健康原因。当他们这样做时，他们可能会考虑一个流行品牌的产品。尤其是当它在友好的麦当劳附近很容易买到时（MCD Quick QuoteMCD-免费报告）。或者肯德基，或者必胜客，或者塔可钟。</blockquote></p><p>So it’s important to remember that we are in unusual times. And unusual things happen in unusual times.</p><p><blockquote>所以重要的是要记住，我们正处于非常时期。不寻常的事情发生在不寻常的时候。</blockquote></p><p>And if that means that a company like Beyond Meat has to offer discounts, write off some inventory, or absorb extra costs, so be it. After all, nobody could have planned for a health crisis coming along and shutting down all the restaurants and sending people indoors for protection.</p><p><blockquote>如果这意味着像Beyond Meat这样的公司必须提供折扣、注销一些库存或吸收额外成本，那就这样吧。毕竟，没有人能预料到健康危机的到来，关闭所有的餐馆，把人们送到室内寻求保护。</blockquote></p><p>As investors, we should be thinking longer-term.</p><p><blockquote>作为投资者，我们应该从长计议。</blockquote></p><p>That means we should be looking at the long-term potential for revenue and earnings growth despite the near-term challenges.</p><p><blockquote>这意味着尽管面临近期挑战，我们还是应该关注收入和盈利增长的长期潜力。</blockquote></p><p>Let’s take revenue first. In the just-reported quarter, the company managed to grow sales just 3.5% from the year-ago period, as softness at foodservice offset tremendous growth at retail (both in the U.S and international markets).</p><p><blockquote>我们先来看营收。在刚刚报告的季度中，该公司的销售额较去年同期仅增长了3.5%，因为餐饮服务的疲软抵消了零售业（在美国和国际市场）的巨大增长。</blockquote></p><p>People generally buy familiar brands at grocery stores. So the surge in sales indicates strong underlying demand and growing brand awareness.</p><p><blockquote>人们通常在杂货店购买熟悉的品牌。因此，销售额的激增表明潜在需求强劲，品牌知名度不断提高。</blockquote></p><p>Okay, so it’s offering discounts. But so is prime competitor Impossible Foods. There’s something of a pricing war going on there with Impossible being the more aggressive. Management commentary also indicates that the absorption of higher fixed cost from operating below capacity in the prior quarter was a bigger driver of weakness.</p><p><blockquote>好吧，所以它提供折扣。但主要竞争对手Impossible Foods也是如此。那里正在进行一场价格战，Impossible更具侵略性。管理层评论还表明，吸收上一季度低于产能运营带来的较高固定成本是疲软的更大驱动因素。</blockquote></p><p>The company is also adding IT infrastructure, it’s also adding headcount in an effort to boost R&amp;D and marketing and support international expansion in Europe and China. It’s also adding production capacity in these two international markets.</p><p><blockquote>该公司还增加了IT基础设施，还增加了员工人数，以促进R&amp;D和营销，并支持在欧洲和中国的国际扩张。它还增加了这两个国际市场的产能。</blockquote></p><p>So while on the one hand we are seeing it building its own brand and internal capabilities, on the other, it is signing long-term deals with leading brands like McDonalds, Yum Brands (YUM Quick QuoteYUM-Free Report) and Pepsico (PEP Quick QuotePEP-Free Report) . When you’re mainly selling into mom n pops, business can be more uncertain. But when you’re selling into recognized leaders in foodservice with deeper pockets to withstand near-term issues, and also testing the water in healthy snacks, the business will obviously be more stable.</p><p><blockquote>因此，一方面我们看到它正在建立自己的品牌和内部能力，另一方面，它正在与麦当劳、百胜餐饮集团（YUM Quick QuoteYUM-免费报告）和百事可乐（PEP Quick QuotePEP-免费报告）。当你主要向妈妈和爸爸销售时，生意会更加不确定。但是，当你向餐饮服务行业公认的领导者销售产品，这些领导者有更雄厚的财力来承受近期的问题，并且还在测试健康零食中的水分时，业务显然会更加稳定。</blockquote></p><p>But all this wouldn’t be as good if Beyond Meat wasn’t a great innovator. And it has made great strides in this. It has moved on from its burger patty to create sausage and meatballs. Its agreement with McDonalds includes a promise of co-developed plant-based chicken, pork and eggs. Its agreement with Yum includes the creation of signature menu items in different plant-based categories.</p><p><blockquote>但如果Beyond Meat不是一个伟大的创新者，这一切都不会那么好。它在这方面取得了长足的进步。它已经从汉堡肉饼转向香肠和肉丸。它与麦当劳的协议包括共同开发植物性鸡肉、猪肉和鸡蛋的承诺。它与百胜的协议包括在不同的植物类别中创建签名菜单项。</blockquote></p><p>Zacks Estimates currently expect the company to swing to a profit this year while growing revenues 53.8%. Both these numbers are due for a revision given the new deals and expected increase in costs (the commencement of production at international facilities should have a mitigating effect on cost and reduce logistics complications).</p><p><blockquote>Zacks目前预计该公司今年将扭亏为盈，同时收入增长53.8%。鉴于新交易和预期成本增加（在国际工厂开始生产应该会对成本产生缓解作用并减少物流复杂性），这两个数字都应该进行修订。</blockquote></p><p>While trading below their median value over the past year, Beyond Meat shares aren’t cheap. So we could wait for a better entry point.</p><p><blockquote>虽然过去一年的交易价格低于中值，但Beyond Meat股价并不便宜。所以我们可以等待一个更好的切入点。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8d24f3c0541515034c6c9e016a8cabe3\" tg-width=\"620\" tg-height=\"261\" 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>Beyond Meat Prepares for a High-Growth Phase<blockquote>Beyond Meat为高增长阶段做准备</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\">\nBeyond Meat Prepares for a High-Growth Phase<blockquote>Beyond Meat为高增长阶段做准备</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zacks</strong><span class=\"h-time small\">2021-03-02 17:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p>I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its shares around. Somehow, I really like the sound of “revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol.”</p><p><blockquote>我成为Beyond Meat（BYND）的粉丝已经有一段时间了，尽管疫情对其股价造成了疯狂的影响。不知何故，我真的很喜欢“革命性的植物性肉类由简单的成分制成，不含转基因生物、生物工程成分、激素、抗生素或胆固醇。”</blockquote></p><p>Everyone may not care for a meat substitute when they can have the real thing. But my feeling is that more and more people will have it at least sometimes, as a token to the environment, or out of animal love, or for health reasons. And when they do that, they might consider an offering from a popular brand name. Especially when it’s so easily available at the friendly neighborhood McDonalds (MCD Quick QuoteMCD-Free Report) . Or a KFC, or a Pizza Hut or, or a Taco Bell for that matter.</p><p><blockquote>当每个人都能拥有真正的肉类替代品时，他们可能不会喜欢肉类替代品。但我的感觉是，越来越多的人至少有时会拥有它，作为对环境的象征，或者出于对动物的热爱，或者出于健康原因。当他们这样做时，他们可能会考虑一个流行品牌的产品。尤其是当它在友好的麦当劳附近很容易买到时（MCD Quick QuoteMCD-免费报告）。或者肯德基，或者必胜客，或者塔可钟。</blockquote></p><p>So it’s important to remember that we are in unusual times. And unusual things happen in unusual times.</p><p><blockquote>所以重要的是要记住，我们正处于非常时期。不寻常的事情发生在不寻常的时候。</blockquote></p><p>And if that means that a company like Beyond Meat has to offer discounts, write off some inventory, or absorb extra costs, so be it. After all, nobody could have planned for a health crisis coming along and shutting down all the restaurants and sending people indoors for protection.</p><p><blockquote>如果这意味着像Beyond Meat这样的公司必须提供折扣、注销一些库存或吸收额外成本，那就这样吧。毕竟，没有人能预料到健康危机的到来，关闭所有的餐馆，把人们送到室内寻求保护。</blockquote></p><p>As investors, we should be thinking longer-term.</p><p><blockquote>作为投资者，我们应该从长计议。</blockquote></p><p>That means we should be looking at the long-term potential for revenue and earnings growth despite the near-term challenges.</p><p><blockquote>这意味着尽管面临近期挑战，我们还是应该关注收入和盈利增长的长期潜力。</blockquote></p><p>Let’s take revenue first. In the just-reported quarter, the company managed to grow sales just 3.5% from the year-ago period, as softness at foodservice offset tremendous growth at retail (both in the U.S and international markets).</p><p><blockquote>我们先来看营收。在刚刚报告的季度中，该公司的销售额较去年同期仅增长了3.5%，因为餐饮服务的疲软抵消了零售业（在美国和国际市场）的巨大增长。</blockquote></p><p>People generally buy familiar brands at grocery stores. So the surge in sales indicates strong underlying demand and growing brand awareness.</p><p><blockquote>人们通常在杂货店购买熟悉的品牌。因此，销售额的激增表明潜在需求强劲，品牌知名度不断提高。</blockquote></p><p>Okay, so it’s offering discounts. But so is prime competitor Impossible Foods. There’s something of a pricing war going on there with Impossible being the more aggressive. Management commentary also indicates that the absorption of higher fixed cost from operating below capacity in the prior quarter was a bigger driver of weakness.</p><p><blockquote>好吧，所以它提供折扣。但主要竞争对手Impossible Foods也是如此。那里正在进行一场价格战，Impossible更具侵略性。管理层评论还表明，吸收上一季度低于产能运营带来的较高固定成本是疲软的更大驱动因素。</blockquote></p><p>The company is also adding IT infrastructure, it’s also adding headcount in an effort to boost R&amp;D and marketing and support international expansion in Europe and China. It’s also adding production capacity in these two international markets.</p><p><blockquote>该公司还增加了IT基础设施，还增加了员工人数，以促进R&amp;D和营销，并支持在欧洲和中国的国际扩张。它还增加了这两个国际市场的产能。</blockquote></p><p>So while on the one hand we are seeing it building its own brand and internal capabilities, on the other, it is signing long-term deals with leading brands like McDonalds, Yum Brands (YUM Quick QuoteYUM-Free Report) and Pepsico (PEP Quick QuotePEP-Free Report) . When you’re mainly selling into mom n pops, business can be more uncertain. But when you’re selling into recognized leaders in foodservice with deeper pockets to withstand near-term issues, and also testing the water in healthy snacks, the business will obviously be more stable.</p><p><blockquote>因此，一方面我们看到它正在建立自己的品牌和内部能力，另一方面，它正在与麦当劳、百胜餐饮集团（YUM Quick QuoteYUM-免费报告）和百事可乐（PEP Quick QuotePEP-免费报告）。当你主要向妈妈和爸爸销售时，生意会更加不确定。但是，当你向餐饮服务行业公认的领导者销售产品，这些领导者有更雄厚的财力来承受近期的问题，并且还在测试健康零食中的水分时，业务显然会更加稳定。</blockquote></p><p>But all this wouldn’t be as good if Beyond Meat wasn’t a great innovator. And it has made great strides in this. It has moved on from its burger patty to create sausage and meatballs. Its agreement with McDonalds includes a promise of co-developed plant-based chicken, pork and eggs. Its agreement with Yum includes the creation of signature menu items in different plant-based categories.</p><p><blockquote>但如果Beyond Meat不是一个伟大的创新者，这一切都不会那么好。它在这方面取得了长足的进步。它已经从汉堡肉饼转向香肠和肉丸。它与麦当劳的协议包括共同开发植物性鸡肉、猪肉和鸡蛋的承诺。它与百胜的协议包括在不同的植物类别中创建签名菜单项。</blockquote></p><p>Zacks Estimates currently expect the company to swing to a profit this year while growing revenues 53.8%. Both these numbers are due for a revision given the new deals and expected increase in costs (the commencement of production at international facilities should have a mitigating effect on cost and reduce logistics complications).</p><p><blockquote>Zacks目前预计该公司今年将扭亏为盈，同时收入增长53.8%。鉴于新交易和预期成本增加（在国际工厂开始生产应该会对成本产生缓解作用并减少物流复杂性），这两个数字都应该进行修订。</blockquote></p><p>While trading below their median value over the past year, Beyond Meat shares aren’t cheap. So we could wait for a better entry point.</p><p><blockquote>虽然过去一年的交易价格低于中值，但Beyond Meat股价并不便宜。所以我们可以等待一个更好的切入点。</blockquote></p><p><img src=\"https://static.tigerbbs.com/8d24f3c0541515034c6c9e016a8cabe3\" tg-width=\"620\" tg-height=\"261\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zacks.com/stock/news/1270468/beyond-meat-prepares-for-a-high-growth-phase?art_rec=home-home-investment_ideas_stocks-ID12-txt-1129470\">zacks</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":{"BYND":"Beyond Meat, Inc."},"source_url":"https://www.zacks.com/stock/news/1270468/beyond-meat-prepares-for-a-high-growth-phase?art_rec=home-home-investment_ideas_stocks-ID12-txt-1129470","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1198289081","content_text":"I’ve been a Beyond Meat (BYND) fan for a while now, despite the crazy way the pandemic has moved its shares around. Somehow, I really like the sound of “revolutionary plant-based meats made from simple ingredients without GMOs, bioengineered ingredients, hormones, antibiotics, or cholesterol.”Everyone may not care for a meat substitute when they can have the real thing. But my feeling is that more and more people will have it at least sometimes, as a token to the environment, or out of animal love, or for health reasons. And when they do that, they might consider an offering from a popular brand name. Especially when it’s so easily available at the friendly neighborhood McDonalds (MCD Quick QuoteMCD-Free Report) . Or a KFC, or a Pizza Hut or, or a Taco Bell for that matter.So it’s important to remember that we are in unusual times. And unusual things happen in unusual times.And if that means that a company like Beyond Meat has to offer discounts, write off some inventory, or absorb extra costs, so be it. After all, nobody could have planned for a health crisis coming along and shutting down all the restaurants and sending people indoors for protection.As investors, we should be thinking longer-term.That means we should be looking at the long-term potential for revenue and earnings growth despite the near-term challenges.Let’s take revenue first. In the just-reported quarter, the company managed to grow sales just 3.5% from the year-ago period, as softness at foodservice offset tremendous growth at retail (both in the U.S and international markets).People generally buy familiar brands at grocery stores. So the surge in sales indicates strong underlying demand and growing brand awareness.Okay, so it’s offering discounts. But so is prime competitor Impossible Foods. There’s something of a pricing war going on there with Impossible being the more aggressive. Management commentary also indicates that the absorption of higher fixed cost from operating below capacity in the prior quarter was a bigger driver of weakness.The company is also adding IT infrastructure, it’s also adding headcount in an effort to boost R&D and marketing and support international expansion in Europe and China. It’s also adding production capacity in these two international markets.So while on the one hand we are seeing it building its own brand and internal capabilities, on the other, it is signing long-term deals with leading brands like McDonalds, Yum Brands (YUM Quick QuoteYUM-Free Report) and Pepsico (PEP Quick QuotePEP-Free Report) . When you’re mainly selling into mom n pops, business can be more uncertain. But when you’re selling into recognized leaders in foodservice with deeper pockets to withstand near-term issues, and also testing the water in healthy snacks, the business will obviously be more stable.But all this wouldn’t be as good if Beyond Meat wasn’t a great innovator. And it has made great strides in this. It has moved on from its burger patty to create sausage and meatballs. Its agreement with McDonalds includes a promise of co-developed plant-based chicken, pork and eggs. Its agreement with Yum includes the creation of signature menu items in different plant-based categories.Zacks Estimates currently expect the company to swing to a profit this year while growing revenues 53.8%. Both these numbers are due for a revision given the new deals and expected increase in costs (the commencement of production at international facilities should have a mitigating effect on cost and reduce logistics complications).While trading below their median value over the past year, Beyond Meat shares aren’t cheap. So we could wait for a better entry point.","news_type":1,"symbols_score_info":{"BYND":0.9}},"isVote":1,"tweetType":1,"viewCount":1605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168583116,"gmtCreate":1623978680435,"gmtModify":1634024886868,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/168583116","repostId":"1189212577","repostType":4,"isVote":1,"tweetType":1,"viewCount":1831,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":182581188,"gmtCreate":1623588995844,"gmtModify":1634031386706,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/182581188","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://www.laohu8.com/m/news/1104635261?lang=zh_CN&edition=full","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital的亏损显示了投资模因股票的风险。</b>本月，对AMC Entertainment HoldingsINC.AMC 15.39%的多管齐下的押注在Mudrick Capital Management LP上适得其反，Mudrick Capital Management LP是最新一家成为大量日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约10%，因为AMC股价的上涨意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助GameStopCorp.GME5.88%和其他股票的价格在1月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。Mudrick Capital的损失凸显了保留对此类公司的大量投资的风险有多大，甚至会对一位与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的影响。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森·穆德里克(Jason Mudrick)几个月来一直在交易AMC股票、期权和债券，个人投资者对这家连锁影院的热情高涨。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金在股价下跌时对AMC的敞口。知情人士称，这些衍生品合约赋予买家未来以大约40美元的价格从Mudrick购买AMC股票的权利，但当Reddit推动的购买热潮最近将AMC股票推至新纪录时，这些衍生品合约就变成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的AMC战略的一部分，Mudrick Capital的高管正在与AMC就购买该公司的额外股票进行谈判。6月1日，AMC披露，Mudrick Capital已同意以每股27.12美元的价格直接从该公司购买2.305亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了该股票并获利，彭博新闻报道了这一快速抛售，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6月1日，Reddit华尔街博彩论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀……他们是搬起石头砸自己的脚。”当时的其他帖子称穆德里克为“失败者”、“人渣”和“一大堆没有未来的挥舞着的S-T”。论坛成员互相催促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>随着AMC反弹势头增强，穆德里克内部的高管们越来越感到担忧。该公司的风险委员会于6月1日晚在该股收于32美元后召开会议，并决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6月2日，AMC股价在几个小时内突破40美元，触及72.62美元的盘中高点。在穆德里克资本促成的疯狂交易中，看涨期权期权价格飙升，到本周末，获胜的交易变成了失败，使该基金损失了数亿美元。Mudrick Capital出售的债务回报率约为5%，但考虑到期权交易后，该基金在AMC上的净亏损约为5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位知情人士表示，穆德里克的基金今年仍上涨了约12%。与此同时，年初购买AMC股票并持有的投资者已上涨约2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的决定性发展，导致顶级对冲基金损失数十亿美元，引发国会听证会并受到美国证券交易委员会的审查。更多的对冲基金现在跟踪个人投资者在社交媒体上的情绪，更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克先生专门从事不良债务投资，经常以高利率向陷入困境的公司提供贷款，或者在破产法庭上将其现有债务换成股权。Mudrick管理着全公司约35亿美元的投资，并通过此类交易所持有电子烟制造商NJOY Holdings Inc.和卫星通信公司GlobalStarInc.的大量非流动性股份。汇丰另类投资集团的数据显示，2018年至2020年，该旗舰基金的年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但由于美联储的宽松资金甚至为陷入困境的公司提供了进入债务市场的机会，因此陷入困境的投资机会变得越来越难找到。穆德里克先生还探索了其他策略，成立了几家特殊目的收购公司，就AMC而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于AMC，以低至20美分的价格购买债券，在12月向该公司借出1亿美元，并将部分债券换成新股。在Covid-19大流行封锁期间，已经面临压力的影院上座率几乎完全消失，AMC股票交易价格低至2美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将恢复对大屏幕娱乐的兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1月下旬，日内交易者首次在AMC进行了交易，在社交媒体上高呼#SaveAMC，并短暂将该股推升至20美元左右。AMC不断上涨的股票价值推高了债务价格——Mudrick Capital持有的一只债券在一周内翻了一番——很快就回报了Mudrick先生的看涨情绪。AMC利用其飙升的股价在1月底筹集了近10亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克先生出售了AMC股票的看涨期权期权，如果连锁影院确实面临问题，可以立即产生收入来抵消潜在的损失。衍生品让买家可以选择以40美元左右的价格从穆德里克资本手中购买AMC股票——当股票交易价格低于10美元时，这似乎是不太可能的。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与AMC首席执行官亚当·阿伦(Adam Aron)就提供额外资金保持联系，导致他最近购买了股票。但一位知情人士表示，作为一项保险政策，他保留了衍生品合约。</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>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</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\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>对冲基金对AMC的押注因模因股票交易员而瓦解</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-06-12 11:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital的亏损显示了投资模因股票的风险。</b>本月，对AMC Entertainment HoldingsINC.AMC 15.39%的多管齐下的押注在Mudrick Capital Management LP上适得其反，Mudrick Capital Management LP是最新一家成为大量日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约10%，因为AMC股价的上涨意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助GameStopCorp.GME5.88%和其他股票的价格在1月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。Mudrick Capital的损失凸显了保留对此类公司的大量投资的风险有多大，甚至会对一位与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的影响。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森·穆德里克(Jason Mudrick)几个月来一直在交易AMC股票、期权和债券，个人投资者对这家连锁影院的热情高涨。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金在股价下跌时对AMC的敞口。知情人士称，这些衍生品合约赋予买家未来以大约40美元的价格从Mudrick购买AMC股票的权利，但当Reddit推动的购买热潮最近将AMC股票推至新纪录时，这些衍生品合约就变成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的AMC战略的一部分，Mudrick Capital的高管正在与AMC就购买该公司的额外股票进行谈判。6月1日，AMC披露，Mudrick Capital已同意以每股27.12美元的价格直接从该公司购买2.305亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了该股票并获利，彭博新闻报道了这一快速抛售，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6月1日，Reddit华尔街博彩论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀……他们是搬起石头砸自己的脚。”当时的其他帖子称穆德里克为“失败者”、“人渣”和“一大堆没有未来的挥舞着的S-T”。论坛成员互相催促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>随着AMC反弹势头增强，穆德里克内部的高管们越来越感到担忧。该公司的风险委员会于6月1日晚在该股收于32美元后召开会议，并决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6月2日，AMC股价在几个小时内突破40美元，触及72.62美元的盘中高点。在穆德里克资本促成的疯狂交易中，看涨期权期权价格飙升，到本周末，获胜的交易变成了失败，使该基金损失了数亿美元。Mudrick Capital出售的债务回报率约为5%，但考虑到期权交易后，该基金在AMC上的净亏损约为5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位知情人士表示，穆德里克的基金今年仍上涨了约12%。与此同时，年初购买AMC股票并持有的投资者已上涨约2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的决定性发展，导致顶级对冲基金损失数十亿美元，引发国会听证会并受到美国证券交易委员会的审查。更多的对冲基金现在跟踪个人投资者在社交媒体上的情绪，更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克先生专门从事不良债务投资，经常以高利率向陷入困境的公司提供贷款，或者在破产法庭上将其现有债务换成股权。Mudrick管理着全公司约35亿美元的投资，并通过此类交易所持有电子烟制造商NJOY Holdings Inc.和卫星通信公司GlobalStarInc.的大量非流动性股份。汇丰另类投资集团的数据显示，2018年至2020年，该旗舰基金的年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但由于美联储的宽松资金甚至为陷入困境的公司提供了进入债务市场的机会，因此陷入困境的投资机会变得越来越难找到。穆德里克先生还探索了其他策略，成立了几家特殊目的收购公司，就AMC而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于AMC，以低至20美分的价格购买债券，在12月向该公司借出1亿美元，并将部分债券换成新股。在Covid-19大流行封锁期间，已经面临压力的影院上座率几乎完全消失，AMC股票交易价格低至2美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将恢复对大屏幕娱乐的兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1月下旬，日内交易者首次在AMC进行了交易，在社交媒体上高呼#SaveAMC，并短暂将该股推升至20美元左右。AMC不断上涨的股票价值推高了债务价格——Mudrick Capital持有的一只债券在一周内翻了一番——很快就回报了Mudrick先生的看涨情绪。AMC利用其飙升的股价在1月底筹集了近10亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克先生出售了AMC股票的看涨期权期权，如果连锁影院确实面临问题，可以立即产生收入来抵消潜在的损失。衍生品让买家可以选择以40美元左右的价格从穆德里克资本手中购买AMC股票——当股票交易价格低于10美元时，这似乎是不太可能的。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与AMC首席执行官亚当·阿伦(Adam Aron)就提供额外资金保持联系，导致他最近购买了股票。但一位知情人士表示，作为一项保险政策，他保留了衍生品合约。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">The Wall Street Journal</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":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362336069,"gmtCreate":1614595150751,"gmtModify":1703478609002,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Pls","listText":"Pls","text":"Pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362336069","repostId":"1181303892","repostType":4,"isVote":1,"tweetType":1,"viewCount":1228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368168664,"gmtCreate":1614300996558,"gmtModify":1703476012968,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Appl pls","listText":"Appl pls","text":"Appl pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/368168664","repostId":"1165777611","repostType":4,"repost":{"id":"1165777611","kind":"news","pubTimestamp":1614247990,"share":"https://www.laohu8.com/m/news/1165777611?lang=zh_CN&edition=full","pubTime":"2021-02-25 18:13","market":"us","language":"en","title":"Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1165777611","media":"Barrons","summary":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyana","content":"<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</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\">\nWall Street Is Obsessed With an Apple Car. Why Tech Analysts Might Be Too Excited.<blockquote>华尔街痴迷于苹果汽车。为什么科技分析师可能过于兴奋。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-02-25 18:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.</p><p><blockquote>苹果进入汽车行业的影响继续引发许多猜测和来自各股票经纪公司的许多分析师报告。派珀·桑德勒(Piper Sandler)周三参与了辩论，称苹果汽车非常有意义。然而，投资者应该记住，生产汽车与制造智能手机非常非常不同。</blockquote></p><p> Piper tech analystHarsh Kumarsays the timing is right for an&nbsp;Apple&nbsp;(ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.</p><p><blockquote>Piper tech分析师Harsh Kumar表示，苹果（股票代码：AAPL）汽车的时机恰到好处。该分析师在周三的研究报告中写道：“该公司可以在技术颠覆高峰期进入市场，同时避免形成市场的风险。”电动汽车激增，自动驾驶技术进步。未来汽车的驾驶和感觉将会有所不同——苹果汽车很可能是一款具有自动驾驶选项的全电动汽车。</blockquote></p><p> Apple has so far declined to comment about any car plans recently.</p><p><blockquote>迄今为止，苹果拒绝对最近的任何汽车计划发表评论。</blockquote></p><p> Kumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.</p><p><blockquote>Kumar涵盖了苹果和其他科技股。他长达23页的报告深入探讨了汽车行业——面向科技投资者。他的报告中涵盖的豪华汽车和经济型轿车之间的行业规模和市场细分在汽车研究中是正常的。</blockquote></p><p> He assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.</p><p><blockquote>他假设苹果未来第一年将售出10万辆汽车。这可能很激进。蔚来（蔚来）、理想汽车（LI）和小鹏汽车（XPEV）是三家已经经营多年的电动汽车初创公司。2020年，他们总共售出了约10万辆汽车。Kumar认为苹果到2030年可以交付100万辆汽车。</blockquote></p><p> For tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.</p><p><blockquote>对于目前的科技分析师来说，苹果汽车似乎是一次玩弄数字的练习。他们被巨大的市场规模所吸引：每年新车销售额超过2.5万亿美元。但汽车分析师对苹果汽车的热情更加温和，这或许是有充分理由的。</blockquote></p><p> One factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike Wardtells<i>Barron’s</i>.</p><p><blockquote>可能阻碍苹果雄心的一个因素是，汽车当然比手机贵得多，这使得购买决定非常不同。此外，Benchmark汽车分析师迈克·沃德(Mike Wardt)表示，“汽车行业的监管非常残酷，需要数年时间才能通过”<i>巴伦周刊</i>.</blockquote></p><p> Ward says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.</p><p><blockquote>沃德表示，他没有听到汽车行业的苹果热议。“在汽车行业保持这种安静是相当困难的——数以千计的供应商、[政府]批准、所需工厂的规模等等。”他并不是说这不可能发生，但这比许多投资者预期的要困难。</blockquote></p><p> Morgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.</p><p><blockquote>摩根士丹利分析师亚当·乔纳斯也主要研究汽车。他似乎不确定是否有一辆苹果汽车在路上，但如果确实出现，“不要指望方向盘。”这意味着完全自动驾驶，这也意味着苹果汽车还需要数年时间。</blockquote></p><p> He believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.</p><p><blockquote>他相信苹果汽车可以加速电动汽车的渗透。这可以帮助现有汽车制造商对电动汽车市场采取更先进的方法。但更高的渗透率并不是汽车行业的灵丹妙药。这位分析师在最近的一份报告中写道：“在某些时候，今天的电动汽车玩家必须共享沙盒。”</blockquote></p><p> That threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.</p><p><blockquote>这种威胁尚未影响他对竞争对手的评级。他将特斯拉股票评级为买入，并将通用汽车(GM)列为首选。</blockquote></p><p> J.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.</p><p><blockquote>摩根大通的技术和汽车团队最近发布了一份联合报告，他们认为苹果汽车不会很快推出。他们一致认为，如果苹果汽车即将上市，它将被推迟，直到全自动驾驶功能更广泛可用。可以处理城市驾驶的机器人出租车服务计划在未来几年内推出。但全自动驾驶能力还很遥远——传感器的成本需要下降，软件仍需改进。</blockquote></p><p> The firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.</p><p><blockquote>该公司的美国汽车分析师扬·布林克曼补充说，像苹果这样规模和实力的新竞争对手对现有汽车制造商来说是负面的，但和沃德一样，他没有听说汽车供应基地有任何合作。</blockquote></p><p> Another thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.</p><p><blockquote>摩根大通同意的另一件事是外包制造，这意味着苹果不太可能组装其汽车。这为一些现有的汽车标记创造了增加销量的机会。然而，谁也说不准哪家公司会赢。</blockquote></p><p> Wedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”</p><p><blockquote>Wedbush分析师Dan Ives研究颠覆性技术，包括苹果和电动汽车制造商特斯拉(TSLA)，他将赌注押在大众汽车(VOW.Germany)上。Ives在最近的一份报告中写道：“我们认为苹果将在未来3到6个月内宣布电动汽车合作伙伴关系/合作的可能性超过85%。”“鉴于大众汽车的模块化工厂足迹以及KeyQuantumScape所有权，我们仍然坚信大众汽车是苹果电动汽车合作伙伴/合资企业的首选候选者。”</blockquote></p><p> QuantumScape&nbsp;(QS) is&nbsp;pioneering&nbsp;solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.</p><p><blockquote>QuantumScape(QS)是固态锂阳极电池的先驱，有望提高电动汽车的续航里程和安全性，同时降低成本和充电时间。</blockquote></p><p></p><p> Apple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&amp;P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.</p><p><blockquote>苹果汽车的希望尚未对投资者产生太大影响。自去年12月有关可能推出苹果汽车的新报道浮出水面以来，通用汽车和特斯拉的股价分别上涨了约26%和10%。相比之下，标准普尔500指数和道琼斯工业平均指数分别上涨约5%和4%。苹果股价下跌约6%。</blockquote></p><p> Investors, it appears, have other more pressing issues on their minds.</p><p><blockquote>投资者似乎还有其他更紧迫的问题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.barrons.com/articles/wall-street-apple-stock-ev-tech-car-51614187099?mod=RTA","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165777611","content_text":"Implications of Apple’s entry into the car business continues to generate muchspeculationand manyanalyst reportsfrom various stockbrokerage firms. Piper Sandler weighed into the debate Wednesday, saying an Apple car makes perfect sense. Investors, however, should remember that producing an automobile is very, very different from making a smartphone.\nPiper tech analystHarsh Kumarsays the timing is right for an Apple (ticker: AAPL) car. “The company can enter the market at a time of peak technology disruption while avoiding the risk of forming the market,” wrote the analyst in a Wednesday research report. Electric vehicles are proliferating, and autonomous driving technology is advancing. Cars will drive and feel different in the future—an Apple car would likely be an all-electric vehicle with self-driving options.\nApple has so far declined to comment about any car plans recently.\nKumar covers Apple and other technology stocks. His 23-page report dives deep into the auto business—for tech investors. Industry size and market segmentation between, say, luxury cars and economy sedans, covered in his report, are par for the course in auto research.\nHe assumes Apple, down the road, will sell 100,000 cars in year one. That might be aggressive.NIO(NIO),Li Auto(LI), andXPeng(XPEV) are threeEV startupsthat have been in business for years. They managed to sell about 100,000 vehicles on a combined basis in 2020. Kumar thinks Apple can be delivering 1 million cars by 2030.\nFor tech analysts at this point, the Apple car appears to be an exercise in fun with numbers. They are attracted to the huge market size: New car sales top $2.5 trillion annually. But auto analysts’ enthusiasm for an Apple vehicle is more tempered, and perhaps for good reason.\nOne factor that might hamper Apple’s ambitions is that cars are, of course, significantly more expensive than phones, making the purchase decision very different. In addition, “the regulatory side of the auto business is brutal and takes years to get through,” Benchmark auto analystMike WardtellsBarron’s.\nWard says he isn’t hearing Apple buzz in the auto industry. It’s “pretty tough to keep that quiet in the auto industry—thousands of suppliers, [government] approvals, the size of the factory needed, etc.” He isn’t saying it can’t happen, but it is harder than many investors might expect.\nMorgan Stanley analystAdam Jonasalso covers cars mainly. He doesn’t appear certain an Apple car is on the way, but if one does show up, “don’t expect steering wheels.” That means full self-driving, which also means the Apple car is still years away.\nHe believes an Apple car can accelerate EV penetration. That could help existing auto makers with more progressive approaches to the EV market. But higher penetration isn’t a panacea for the car business. “At some point, today’s EV players must share the sandbox,” wrote the analyst in a recent report.\nThat threat isn’t affecting his ratings on competitors yet. He rate Tesla stock Buy and callsGeneral Motors(GM) a top pick.\nJ.P. Morgan‘s tech and car teams produced a joint report recently, and they don’t see an Apple car coming soon. They agreed if an Apple car is on the way, it will be delayed until full self-driving capability is more widely available.Robotaxi services, which can handle city driving, are planned in the next couple of years. But full self-driving capabilities are farther away—the cost of sensors needs to fall, and the software still needs to improve.\nThe firm’s U.S. auto analystRyan Brinkmanadded that a new competitor the size and strength of Apple is a negative for existing auto makers, but, like Ward, he hasn’t heard about any collaboration in the auto-supply base.\nAnother thing J.P. Morgan agrees on is outsourced manufacturing, meaning that Apple isn’t likely to assemble its car. That creates an opportunity for some existing car marker to build more volume. What company would win, however, isanyone’s guess.\nWedbush analystDan Ives, who covers disruptive technology, which includes Apple and EV makerTesla(TSLA), is placing his bets onVolkswagen(VOW.Germany). “We assign a 85%-plus chance that Apple will announce an EV partnership/collaboration over the next 3 to 6 months,” wrote Ives in a recent report. “We continue to strongly believe that VW is a top candidate for an Apple EV partnership/JV given the company’s modular factory footprint as well as the keyQuantumScapeownership.”\nQuantumScape (QS) is pioneering solid-state lithium anode batteries that promise to improve electric-vehicle range and safety, while lowering costs and charge time.\nApple car hopes aren’t affecting investors much yet. Since new reports of a possible Apple car surfaced in December, GM and Tesla shares are up about 26% and 10%, respectively. TheS&P 500andDow Jones Industrial Average,for comparison, are up about 5% and 4%, respectively. Apple shares are down about 6%.\nInvestors, it appears, have other more pressing issues on their minds.","news_type":1,"symbols_score_info":{"AAPL":0.9}},"isVote":1,"tweetType":1,"viewCount":746,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":360418802,"gmtCreate":1613964012306,"gmtModify":1634551738934,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Good good","listText":"Good good","text":"Good good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/360418802","repostId":"1184992729","repostType":4,"repost":{"id":"1184992729","kind":"news","pubTimestamp":1613961671,"share":"https://www.laohu8.com/m/news/1184992729?lang=zh_CN&edition=full","pubTime":"2021-02-22 10:41","market":"us","language":"en","title":"GameStop Craze Puts Holders of Retail ETF on Wild Ride<blockquote>游戏驿站热潮让零售ETF持有者陷入疯狂</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1184992729","media":"The Wall Street Journal","summary":"State Street’s SPDR S&P Retail ETF shares have surged 23% this year\nGameStop mania has spilled over ","content":"<p>State Street’s SPDR S&amp;P Retail ETF shares have surged 23% this year</p><p><blockquote>道富银行SPDR S&amp;P Retail ETF股价今年飙升23%</blockquote></p><p> GameStop mania has spilled over into a popular exchange-traded fund, as the WallStreetBets craze reaches beyond shares favored on social media.</p><p><blockquote>随着WallStreetBets热潮超出了社交媒体上青睐的股票，游戏驿站热潮已蔓延至受欢迎的交易所交易基金。</blockquote></p><p> The fund, State Street ’s SPDR S&amp;P Retail ETF, was created in 2006 to give investors broad exposure to mall-store firms. Its shares have surged 23% this year, far outstripping a 4% gain in the S&amp;P 500, despite the uncertain outlook for retail. Behind those gains are the traders who congregate on social-media platforms such as Reddit’s WallStreetBets forum and whose enthusiasm has turned this mundane investment into a roller coaster.</p><p><blockquote>该基金是道富银行的SPDR S&amp;P Retail ETF，成立于2006年，旨在为投资者提供对购物中心公司的广泛投资。尽管零售业前景不确定，但其股价今年已飙升23%，远远超过标普500 4%的涨幅。这些收益的背后是聚集在Reddit的WallStreetBets论坛等社交媒体平台上的交易者，他们的热情将这项平凡的投资变成了过山车。</blockquote></p><p> On Jan. 27, GameStopsoared 135%, driven by events such as Tesla Inc. Chief Executive Elon Musk tweeting “Gamestonk.” The State Street fund jumped 42% the same day. The next day, GameStop shares tumbled 44% and the fund, known by its ticker XRT, dropped about 9%.</p><p><blockquote>1月27日，在特斯拉首席执行官Elon Musk在推特上发布“Gamestonk”等事件的推动下，GameStop飙升135%。道富基金当天上涨42%。第二天，游戏驿站股价下跌44%，该基金（股票代码为XRT）下跌约9%。</blockquote></p><p> On Jan. 28, the fund suffered its largest single-day outflow in more than a decade, according to FactSet. Three-quarters of the money in the fund flowed out, amounting to $506 million in redemptions, driven in part by what some analysts describe as a frantic rush by traders to liquidate the ETF—whose price at times traded at discounts rarely seen in this part of the world—to get their hands on underlying GameStop shares.</p><p><blockquote>FactSet的数据显示，1月28日，该基金遭遇了十多年来最大的单日资金流出。该基金四分之三的资金流出，赎回金额达5.06亿美元，部分原因是一些分析师所说的交易员疯狂地急于清算该ETF——该ETF的价格有时会出现在该地区罕见的折扣。世界的一部分——以获得游戏驿站的基础股票。</blockquote></p><p> The whipsaw trading highlights how the mania in WallStreetBets favorites like GameStop can drive pricing in other investments, in this case one typically preferred by investors seeking portfolio diversification and targeted exposure to industry sectors. GameStop shares, long viewed as an also-ran by many investors in a world dominated by Amazon and Costco , at one point this year accounted for 20% of the State Street fund.</p><p><blockquote>拉锯交易凸显了游戏驿站等WallStreetBets最喜欢的投资的狂热如何推动其他投资的定价，在这种情况下，寻求投资组合多元化和有针对性地投资行业的投资者通常更喜欢这种投资。在Amazon和Costco主导的世界中，游戏驿站股票长期以来被许多投资者视为失败者，但今年一度占道富基金的20%。</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>GameStop Craze Puts Holders of Retail ETF on Wild Ride<blockquote>游戏驿站热潮让零售ETF持有者陷入疯狂</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\">\nGameStop Craze Puts Holders of Retail ETF on Wild Ride<blockquote>游戏驿站热潮让零售ETF持有者陷入疯狂</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-02-22 10:41</span>\n</p>\n</h4>\n</header>\n<article>\n<p>State Street’s SPDR S&amp;P Retail ETF shares have surged 23% this year</p><p><blockquote>道富银行SPDR S&amp;P Retail ETF股价今年飙升23%</blockquote></p><p> GameStop mania has spilled over into a popular exchange-traded fund, as the WallStreetBets craze reaches beyond shares favored on social media.</p><p><blockquote>随着WallStreetBets热潮超出了社交媒体上青睐的股票，游戏驿站热潮已蔓延至受欢迎的交易所交易基金。</blockquote></p><p> The fund, State Street ’s SPDR S&amp;P Retail ETF, was created in 2006 to give investors broad exposure to mall-store firms. Its shares have surged 23% this year, far outstripping a 4% gain in the S&amp;P 500, despite the uncertain outlook for retail. Behind those gains are the traders who congregate on social-media platforms such as Reddit’s WallStreetBets forum and whose enthusiasm has turned this mundane investment into a roller coaster.</p><p><blockquote>该基金是道富银行的SPDR S&amp;P Retail ETF，成立于2006年，旨在为投资者提供对购物中心公司的广泛投资。尽管零售业前景不确定，但其股价今年已飙升23%，远远超过标普500 4%的涨幅。这些收益的背后是聚集在Reddit的WallStreetBets论坛等社交媒体平台上的交易者，他们的热情将这项平凡的投资变成了过山车。</blockquote></p><p> On Jan. 27, GameStopsoared 135%, driven by events such as Tesla Inc. Chief Executive Elon Musk tweeting “Gamestonk.” The State Street fund jumped 42% the same day. The next day, GameStop shares tumbled 44% and the fund, known by its ticker XRT, dropped about 9%.</p><p><blockquote>1月27日，在特斯拉首席执行官Elon Musk在推特上发布“Gamestonk”等事件的推动下，GameStop飙升135%。道富基金当天上涨42%。第二天，游戏驿站股价下跌44%，该基金（股票代码为XRT）下跌约9%。</blockquote></p><p> On Jan. 28, the fund suffered its largest single-day outflow in more than a decade, according to FactSet. Three-quarters of the money in the fund flowed out, amounting to $506 million in redemptions, driven in part by what some analysts describe as a frantic rush by traders to liquidate the ETF—whose price at times traded at discounts rarely seen in this part of the world—to get their hands on underlying GameStop shares.</p><p><blockquote>FactSet的数据显示，1月28日，该基金遭遇了十多年来最大的单日资金流出。该基金四分之三的资金流出，赎回金额达5.06亿美元，部分原因是一些分析师所说的交易员疯狂地急于清算该ETF——该ETF的价格有时会出现在该地区罕见的折扣。世界的一部分——以获得游戏驿站的基础股票。</blockquote></p><p> The whipsaw trading highlights how the mania in WallStreetBets favorites like GameStop can drive pricing in other investments, in this case one typically preferred by investors seeking portfolio diversification and targeted exposure to industry sectors. GameStop shares, long viewed as an also-ran by many investors in a world dominated by Amazon and Costco , at one point this year accounted for 20% of the State Street fund.</p><p><blockquote>拉锯交易凸显了游戏驿站等WallStreetBets最喜欢的投资的狂热如何推动其他投资的定价，在这种情况下，寻求投资组合多元化和有针对性地投资行业的投资者通常更喜欢这种投资。在Amazon和Costco主导的世界中，游戏驿站股票长期以来被许多投资者视为失败者，但今年一度占道富基金的20%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/gamestop-craze-puts-holders-of-retail-etf-on-wild-ride-11613923200?mod=hp_lead_pos7\">The Wall Street Journal</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":{"AMC":"AMC院线",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","GME":"游戏驿站",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/gamestop-craze-puts-holders-of-retail-etf-on-wild-ride-11613923200?mod=hp_lead_pos7","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1184992729","content_text":"State Street’s SPDR S&P Retail ETF shares have surged 23% this year\nGameStop mania has spilled over into a popular exchange-traded fund, as the WallStreetBets craze reaches beyond shares favored on social media.\nThe fund, State Street ’s SPDR S&P Retail ETF, was created in 2006 to give investors broad exposure to mall-store firms. Its shares have surged 23% this year, far outstripping a 4% gain in the S&P 500, despite the uncertain outlook for retail. Behind those gains are the traders who congregate on social-media platforms such as Reddit’s WallStreetBets forum and whose enthusiasm has turned this mundane investment into a roller coaster.\nOn Jan. 27, GameStopsoared 135%, driven by events such as Tesla Inc. Chief Executive Elon Musk tweeting “Gamestonk.” The State Street fund jumped 42% the same day. The next day, GameStop shares tumbled 44% and the fund, known by its ticker XRT, dropped about 9%.\nOn Jan. 28, the fund suffered its largest single-day outflow in more than a decade, according to FactSet. Three-quarters of the money in the fund flowed out, amounting to $506 million in redemptions, driven in part by what some analysts describe as a frantic rush by traders to liquidate the ETF—whose price at times traded at discounts rarely seen in this part of the world—to get their hands on underlying GameStop shares.\nThe whipsaw trading highlights how the mania in WallStreetBets favorites like GameStop can drive pricing in other investments, in this case one typically preferred by investors seeking portfolio diversification and targeted exposure to industry sectors. GameStop shares, long viewed as an also-ran by many investors in a world dominated by Amazon and Costco , at one point this year accounted for 20% of the State Street fund.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"AMC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":756,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168582587,"gmtCreate":1623978755449,"gmtModify":1634024882530,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"How","listText":"How","text":"How","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/168582587","repostId":"2144728270","repostType":4,"isVote":1,"tweetType":1,"viewCount":1722,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":168580473,"gmtCreate":1623978636292,"gmtModify":1634024888163,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/168580473","repostId":"1108637837","repostType":4,"repost":{"id":"1108637837","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":1623971266,"share":"https://www.laohu8.com/m/news/1108637837?lang=zh_CN&edition=full","pubTime":"2021-06-18 07:07","market":"us","language":"en","title":"Cruise operator Carnival discloses personal data breach, shares down<blockquote>邮轮运营商嘉年华披露个人数据泄露，股价下跌</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1108637837","media":"Tiger Newspress","summary":"Cruise operator Carnival Corp said on Thursday it had detected unauthorized access to its computer s","content":"<p>Cruise operator Carnival Corp&nbsp;said on Thursday it had detected unauthorized access to its computer systems in March, after which it alerted regulators and hired a cybersecurity firm to investigate the breach.</p><p><blockquote>邮轮运营商嘉年华公司周四表示，它在3月份发现了对其计算机系统的未经授权的访问，之后它向监管机构发出了警报，并聘请了一家网络安全公司来调查这一违规行为。</blockquote></p><p> The company, whose shares were down over 2%, noticed the suspicious activity on March 19 and acted quickly to \"to shut down the event and prevent further unauthorized access\", it said in an emailed statement.</p><p><blockquote>该公司在一份电子邮件声明中表示，该公司股价下跌超过2%，于3月19日注意到这一可疑活动，并迅速采取行动“关闭该活动并防止进一步未经授权的访问”。</blockquote></p><p> The breach affected personal information of some guests, employees and crew for Carnival Cruise Line, Holland America Line, Princess Cruises and medical operations, Carnival said.</p><p><blockquote>嘉年华表示，此次泄露影响了嘉年华邮轮公司、荷美邮轮公司、公主邮轮公司和医疗业务的一些客人、员工和船员的个人信息。</blockquote></p><p> \"There is evidence indicating a low likelihood of the data being misused,\" the company added.</p><p><blockquote>该公司补充说：“有证据表明数据被滥用的可能性很低。”</blockquote></p><p> Miami-based Carnival also said it alerted individuals whose data had been compromised and set up a call center to respond to their queries.</p><p><blockquote>总部位于迈阿密的嘉年华还表示，它向数据被泄露的个人发出了警报，并建立了一个看涨期权中心来回应他们的询问。</blockquote></p><p> Technology news portal Bleeping Computer first reported the breach.</p><p><blockquote>科技新闻门户网站Bleeping Computer首先报告了这一漏洞。</blockquote></p><p> The disclosure from the company comes at a time United States has witnessed a spate of increasingly bold cyberattacks on critical infrastructure.</p><p><blockquote>该公司披露这一消息之际，美国目睹了一系列针对关键基础设施的日益大胆的网络攻击。</blockquote></p><p> A ransomware attack on Colonial Pipeline last month temporarily stalled one of the country's major arteries for fuel delivery. Meatpacker JBS USA's operations were disrupted earlier this month due to a cyberattack.</p><p><blockquote>上个月对Colonial Pipeline的勒索软件攻击暂时中断了该国燃料输送的主要动脉之一。肉类加工商JBS USA的运营本月早些时候因网络攻击而中断。</blockquote></p><p> Carnival was also hit by a ransomware attack last year, which affected the information technology systems of one of its brands.</p><p><blockquote>嘉年华去年也遭受了勒索软件攻击，影响了其一个品牌的信息技术系统。</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>Cruise operator Carnival discloses personal data breach, shares down<blockquote>邮轮运营商嘉年华披露个人数据泄露，股价下跌</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; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCruise operator Carnival discloses personal data breach, shares down<blockquote>邮轮运营商嘉年华披露个人数据泄露，股价下跌</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\">2021-06-18 07:07</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Cruise operator Carnival Corp&nbsp;said on Thursday it had detected unauthorized access to its computer systems in March, after which it alerted regulators and hired a cybersecurity firm to investigate the breach.</p><p><blockquote>邮轮运营商嘉年华公司周四表示，它在3月份发现了对其计算机系统的未经授权的访问，之后它向监管机构发出了警报，并聘请了一家网络安全公司来调查这一违规行为。</blockquote></p><p> The company, whose shares were down over 2%, noticed the suspicious activity on March 19 and acted quickly to \"to shut down the event and prevent further unauthorized access\", it said in an emailed statement.</p><p><blockquote>该公司在一份电子邮件声明中表示，该公司股价下跌超过2%，于3月19日注意到这一可疑活动，并迅速采取行动“关闭该活动并防止进一步未经授权的访问”。</blockquote></p><p> The breach affected personal information of some guests, employees and crew for Carnival Cruise Line, Holland America Line, Princess Cruises and medical operations, Carnival said.</p><p><blockquote>嘉年华表示，此次泄露影响了嘉年华邮轮公司、荷美邮轮公司、公主邮轮公司和医疗业务的一些客人、员工和船员的个人信息。</blockquote></p><p> \"There is evidence indicating a low likelihood of the data being misused,\" the company added.</p><p><blockquote>该公司补充说：“有证据表明数据被滥用的可能性很低。”</blockquote></p><p> Miami-based Carnival also said it alerted individuals whose data had been compromised and set up a call center to respond to their queries.</p><p><blockquote>总部位于迈阿密的嘉年华还表示，它向数据被泄露的个人发出了警报，并建立了一个看涨期权中心来回应他们的询问。</blockquote></p><p> Technology news portal Bleeping Computer first reported the breach.</p><p><blockquote>科技新闻门户网站Bleeping Computer首先报告了这一漏洞。</blockquote></p><p> The disclosure from the company comes at a time United States has witnessed a spate of increasingly bold cyberattacks on critical infrastructure.</p><p><blockquote>该公司披露这一消息之际，美国目睹了一系列针对关键基础设施的日益大胆的网络攻击。</blockquote></p><p> A ransomware attack on Colonial Pipeline last month temporarily stalled one of the country's major arteries for fuel delivery. Meatpacker JBS USA's operations were disrupted earlier this month due to a cyberattack.</p><p><blockquote>上个月对Colonial Pipeline的勒索软件攻击暂时中断了该国燃料输送的主要动脉之一。肉类加工商JBS USA的运营本月早些时候因网络攻击而中断。</blockquote></p><p> Carnival was also hit by a ransomware attack last year, which affected the information technology systems of one of its brands.</p><p><blockquote>嘉年华去年也遭受了勒索软件攻击，影响了其一个品牌的信息技术系统。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CCL":"嘉年华邮轮"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108637837","content_text":"Cruise operator Carnival Corp said on Thursday it had detected unauthorized access to its computer systems in March, after which it alerted regulators and hired a cybersecurity firm to investigate the breach.\nThe company, whose shares were down over 2%, noticed the suspicious activity on March 19 and acted quickly to \"to shut down the event and prevent further unauthorized access\", it said in an emailed statement.\nThe breach affected personal information of some guests, employees and crew for Carnival Cruise Line, Holland America Line, Princess Cruises and medical operations, Carnival said.\n\"There is evidence indicating a low likelihood of the data being misused,\" the company added.\nMiami-based Carnival also said it alerted individuals whose data had been compromised and set up a call center to respond to their queries.\nTechnology news portal Bleeping Computer first reported the breach.\nThe disclosure from the company comes at a time United States has witnessed a spate of increasingly bold cyberattacks on critical infrastructure.\nA ransomware attack on Colonial Pipeline last month temporarily stalled one of the country's major arteries for fuel delivery. Meatpacker JBS USA's operations were disrupted earlier this month due to a cyberattack.\nCarnival was also hit by a ransomware attack last year, which affected the information technology systems of one of its brands.","news_type":1,"symbols_score_info":{"CCL":0.9}},"isVote":1,"tweetType":1,"viewCount":1096,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362338513,"gmtCreate":1614595127932,"gmtModify":1703478608317,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"Bad","listText":"Bad","text":"Bad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/362338513","repostId":"1135866043","repostType":4,"isVote":1,"tweetType":1,"viewCount":1751,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":387294572,"gmtCreate":1613747971796,"gmtModify":1634552375696,"author":{"id":"3574939952315129","authorId":"3574939952315129","name":"651dc410","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574939952315129","idStr":"3574939952315129"},"themes":[],"htmlText":"FLY TIGER","listText":"FLY TIGER","text":"FLY TIGER","images":[{"img":"https://static.tigerbbs.com/a29bf6c39dc1b189f1ca7fb231869c00","width":"1125","height":"3035"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/387294572","isVote":1,"tweetType":1,"viewCount":667,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}