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0勋章

2021-06-29

$UMS HOLDINGS LIMITED(558.SI)$what price to sell?

2021-06-18

$OCEANUS GROUP LIMITED(579.SI)$not moving much for the longest time. Go upppp

2021-07-11

Bought

抱歉，原内容已删除

2021-07-06

$OCEANUS GROUP LIMITED(579.SI)$please breakthrough! [白眼]

2021-08-05

$AMC Entertainment(AMC)$averaging down! 🙏💎

2021-08-02

$OCEANUS GROUP LIMITED(579.SI)$[流泪]

2021-07-14

$AMC Entertainment(AMC)$holdddd

2021-06-19

$Micron Technology(MU)$jiayou!!

2021-06-25

Waiting for nok to moon!

Meme Stocks: How The Most Popular Have Performed in 2021<blockquote>Meme股票：2021年最受欢迎的股票表现如何</blockquote>

2021-06-22

$Lipocine(LPCN)$bought at 1.8. Will this ever move uppp

2021-08-27

$ContextLogic Inc.(WISH)$怎么办

2021-08-23

$Alibaba(BABA)$average down?

2021-06-05

Bought at 248. Still at a lost >.< please pop moreee

DocuSign stock pops on earnings, outlook beat<blockquote>DocuSign股价因盈利和前景超出预期而上涨</blockquote>

2021-06-02

Really sad abt this. Sold too early [流泪]

AMC stock gains extended to 31% in premarket trading<blockquote>AMC股价盘前交易涨幅扩大至31%</blockquote>

2021-08-27

Good read. V true

Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners<blockquote>并非所有股票都存在泡沫。以下是如何找到今天的便宜货和明天的赢家</blockquote>

2021-06-28

More weakness so tt can enter

Tesla: Recent Weakness Is An Opportunity<blockquote>特斯拉：近期的疲软是一个机会</blockquote>

2021-06-29

$OCEANUS GROUP LIMITED(579.SI)$finally moving up. Canpleaseeee continue to do so!!

2021-08-02

$UMS HOLDINGS LIMITED(558.SI)$holding still!!

2021-07-13

$Nokia Oyj(NOK)$wad price to sell? [财迷] [贱笑]

2021-06-25

Still got potential!

Nokia Stock: From 5G Winner To Disappointment To Meme<blockquote>诺基亚股票：从5G赢家到失望再到模因</blockquote>

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a href=\"https://laohu8.com/S/GREE\">$Greenidge Generation Holdings Inc.(GREE)$</a>[喷血]&nbsp;","listText":"<a href=\"https://laohu8.com/S/GREE\">$Greenidge Generation Holdings Inc.(GREE)$</a>[喷血]&nbsp;","text":"$Greenidge Generation Holdings 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Beyond(BBBY)$[流泪] [流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/889118388","isVote":1,"tweetType":1,"viewCount":2255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":819264406,"gmtCreate":1630073195805,"gmtModify":1704955560229,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Good read. V true","listText":"Good read. V true","text":"Good read. V true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819264406","repostId":"1149850459","repostType":4,"repost":{"id":"1149850459","kind":"news","pubTimestamp":1630048146,"share":"https://www.laohu8.com/m/news/1149850459?lang=zh_CN&edition=full","pubTime":"2021-08-27 15:09","market":"us","language":"en","title":"Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners<blockquote>并非所有股票都存在泡沫。以下是如何找到今天的便宜货和明天的赢家</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149850459","media":"MarketWatch","summary":"Look for high-quality companies, one stock at a time\nAGENCE FRANCE-PRESSE/GETTY IMAGES\nThe stock mar","content":"<p>Look for high-quality companies, one stock at a time</p><p><blockquote>寻找优质公司，一次一只股票</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/92d5fb452d9db7f672a2a9eec51862eb\" tg-width=\"700\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>法新社/盖蒂图片社</span></p></blockquote></p><p> The stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing&nbsp;“Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.</p><p><blockquote>股市处于泡沫之中；这不是什么秘密。大多数投资者都忽略了这一点，只是迷恋这一旅程。他们在玩“傻瓜策略”——等待一个更大的傻瓜从他们那里购买他们被高估的股票。为什么不呢，更大的傻瓜多年来一直成群结队地出现。低利率抬高了所有资产的价格，迫使每个人承担越来越大的风险。</blockquote></p><p> Then there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).</p><p><blockquote>然后是纯粹的贪婪。这个市场泡沫充斥着这种“快速致富”的心态和对错失良机的恐惧；所有的泡泡都是。这一次，社交媒体进一步扭曲了市场，它似乎是这种行为的巨大放大器，可以说是延长了这种行为，带来了似乎无穷无尽的增量买家（更大的傻瓜）。</blockquote></p><p> <b>Market timer’s gambit</b></p><p><blockquote><b>市场计时器的策略</b></blockquote></p><p> Rational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.&nbsp; They may play&nbsp;“Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.</p><p><blockquote>不沉溺于贪婪的理性人士，不介意慢慢致富，他们可能想完全避开这个市场。他们可能会玩“市场计时器的策略”。他们的论点（表面上）是合乎逻辑的。事情是这样的：“我现在打算保持观望，等市场下跌后再入场”。</blockquote></p><p> There are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.</p><p><blockquote>这种策略有两个问题。第一，市场非理性可以持续很长时间。第二，虽然理论上听起来不错，但实际执行起来很难。</blockquote></p><p> Here is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.</p><p><blockquote>这里有一个例子：假设您100%持有现金，等待市场调整。你等了很长时间，然后市场下跌了10%。你觉得自己稍微被证明是正确的，但市场实际上刚刚稳定在几个月前的水平。你要做一个决定：进去还是等？你当然是谨慎的，市场在下跌，所以你决定等待。</blockquote></p><p> The market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.</p><p><blockquote>市场又下跌了10%。你觉得自己被证明是正确的。现在你觉得你的耐心和过去几年你错过的回报得到了回报。但你的直觉会告诉你，如果市场下跌20%，它可能会跌得更低。你等着。</blockquote></p><p> You were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.</p><p><blockquote>你是对的。市场又下跌了10%。经济新闻很难看。市场下跌可能会使经济陷入衰退。或者经济已经陷入衰退。现在你担心了。你决定等待。</blockquote></p><p> The market declines&nbsp;another&nbsp;10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.</p><p><blockquote>市场又下跌了10%。这笔现金现在感觉太贵了，你不想放弃它。你觉得你已经想通了。你告诉自己，当消息好转时，你会投资。</blockquote></p><p> The news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.&nbsp; Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.</p><p><blockquote>消息并没有好转。但是奇怪的事情发生了。市场有几天表现强劲。评论员看涨期权他们是“死猫反弹”，预计会进一步下跌。这几天强势之后还有几天。突然市场回撤了最后20%的跌幅。你为两周前（在现在“明显”的底部）没有投资而感到难过。</blockquote></p><p> You get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.</p><p><blockquote>你明白了。一旦你完全退出市场，从心理上来说很难再重新投入市场。我遇到过不少人，他们自2000年以来一直远离市场，仍在等待进入市场的机会。想象一下他们经历的心理过山车和他们留在桌面上的回报。</blockquote></p><p> Even if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.</p><p><blockquote>即使你一次抓住了市场时机，也不可能将其放入一个可重复的过程中。除了把握好经济的时机之外，你还必须把握好股市对经济反应的时机。我认识很多成功把握市场时机的人；我不知道有谁做过两次。</blockquote></p><p> <b>One stock at a time</b></p><p><blockquote><b>一次一只股票</b></blockquote></p><p> Investing in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available:&nbsp;“One Stock at a Time.”</p><p><blockquote>投资股市不需要停留在傻瓜策略或市场计时器策略的极端。还有一种不同的游戏：“一次一只股票。”</blockquote></p><p> Even in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).</p><p><blockquote>即使在这个估值疯狂高估的市场中，也不是所有的股票都被高估了，都在寻找更大的傻瓜。凭借耐心、长期的时间视野和我们久经考验的价值投资流程，寻找由优秀管理层运营、被严重低估（即具有安全边际）的高质量公司。</blockquote></p><p> This process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.</p><p><blockquote>这个过程并不快速，也不会让你快速致富。它需要平凡的工作和翻转大量的岩石。在我们公司，我们阅读公司财务文件，与管理层、竞争对手交谈，建立我们自己的财务模型，在我们自己之间以及与我们的全球投资者网络讨论这些投资。</blockquote></p><p> Investors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.</p><p><blockquote>投资者可以从全球数万只股票中进行选择。在我们公司，我们只需要20到30个。当我们找不到足够多的符合我们严格投资标准的股票时，我们的现金余额会上升，然后随着我们找到新股票而下降。我们不把握市场时机；我们对个股进行估值，便宜时买入，贵时卖出。</blockquote></p><p></p><p> To sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. But&nbsp;we don’t own the market; instead we have assembled a portfolio of companies priced attractively at 30- to 60-cents on the dollar —&nbsp;one stock at a time.</p><p><blockquote>总而言之：今天的美国股市是一张接近2美元或更多的美元钞票。许多股票以1美元易手为4美元、6美元、20美元。但是我们不拥有市场；相反，我们组建了一个公司投资组合，其定价极具吸引力，每美元价格为30至60美分——一次一只股票。</blockquote></p><p></p>","source":"lsy1603348471595","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>Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners<blockquote>并非所有股票都存在泡沫。以下是如何找到今天的便宜货和明天的赢家</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\">\nNot every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners<blockquote>并非所有股票都存在泡沫。以下是如何找到今天的便宜货和明天的赢家</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-27 15:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Look for high-quality companies, one stock at a time</p><p><blockquote>寻找优质公司，一次一只股票</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/92d5fb452d9db7f672a2a9eec51862eb\" tg-width=\"700\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>法新社/盖蒂图片社</span></p></blockquote></p><p> The stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing&nbsp;“Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.</p><p><blockquote>股市处于泡沫之中；这不是什么秘密。大多数投资者都忽略了这一点，只是迷恋这一旅程。他们在玩“傻瓜策略”——等待一个更大的傻瓜从他们那里购买他们被高估的股票。为什么不呢，更大的傻瓜多年来一直成群结队地出现。低利率抬高了所有资产的价格，迫使每个人承担越来越大的风险。</blockquote></p><p> Then there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).</p><p><blockquote>然后是纯粹的贪婪。这个市场泡沫充斥着这种“快速致富”的心态和对错失良机的恐惧；所有的泡泡都是。这一次，社交媒体进一步扭曲了市场，它似乎是这种行为的巨大放大器，可以说是延长了这种行为，带来了似乎无穷无尽的增量买家（更大的傻瓜）。</blockquote></p><p> <b>Market timer’s gambit</b></p><p><blockquote><b>市场计时器的策略</b></blockquote></p><p> Rational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.&nbsp; They may play&nbsp;“Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.</p><p><blockquote>不沉溺于贪婪的理性人士，不介意慢慢致富，他们可能想完全避开这个市场。他们可能会玩“市场计时器的策略”。他们的论点（表面上）是合乎逻辑的。事情是这样的：“我现在打算保持观望，等市场下跌后再入场”。</blockquote></p><p> There are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.</p><p><blockquote>这种策略有两个问题。第一，市场非理性可以持续很长时间。第二，虽然理论上听起来不错，但实际执行起来很难。</blockquote></p><p> Here is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.</p><p><blockquote>这里有一个例子：假设您100%持有现金，等待市场调整。你等了很长时间，然后市场下跌了10%。你觉得自己稍微被证明是正确的，但市场实际上刚刚稳定在几个月前的水平。你要做一个决定：进去还是等？你当然是谨慎的，市场在下跌，所以你决定等待。</blockquote></p><p> The market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.</p><p><blockquote>市场又下跌了10%。你觉得自己被证明是正确的。现在你觉得你的耐心和过去几年你错过的回报得到了回报。但你的直觉会告诉你，如果市场下跌20%，它可能会跌得更低。你等着。</blockquote></p><p> You were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.</p><p><blockquote>你是对的。市场又下跌了10%。经济新闻很难看。市场下跌可能会使经济陷入衰退。或者经济已经陷入衰退。现在你担心了。你决定等待。</blockquote></p><p> The market declines&nbsp;another&nbsp;10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.</p><p><blockquote>市场又下跌了10%。这笔现金现在感觉太贵了，你不想放弃它。你觉得你已经想通了。你告诉自己，当消息好转时，你会投资。</blockquote></p><p> The news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.&nbsp; Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.</p><p><blockquote>消息并没有好转。但是奇怪的事情发生了。市场有几天表现强劲。评论员看涨期权他们是“死猫反弹”，预计会进一步下跌。这几天强势之后还有几天。突然市场回撤了最后20%的跌幅。你为两周前（在现在“明显”的底部）没有投资而感到难过。</blockquote></p><p> You get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.</p><p><blockquote>你明白了。一旦你完全退出市场，从心理上来说很难再重新投入市场。我遇到过不少人，他们自2000年以来一直远离市场，仍在等待进入市场的机会。想象一下他们经历的心理过山车和他们留在桌面上的回报。</blockquote></p><p> Even if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.</p><p><blockquote>即使你一次抓住了市场时机，也不可能将其放入一个可重复的过程中。除了把握好经济的时机之外，你还必须把握好股市对经济反应的时机。我认识很多成功把握市场时机的人；我不知道有谁做过两次。</blockquote></p><p> <b>One stock at a time</b></p><p><blockquote><b>一次一只股票</b></blockquote></p><p> Investing in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available:&nbsp;“One Stock at a Time.”</p><p><blockquote>投资股市不需要停留在傻瓜策略或市场计时器策略的极端。还有一种不同的游戏：“一次一只股票。”</blockquote></p><p> Even in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).</p><p><blockquote>即使在这个估值疯狂高估的市场中，也不是所有的股票都被高估了，都在寻找更大的傻瓜。凭借耐心、长期的时间视野和我们久经考验的价值投资流程，寻找由优秀管理层运营、被严重低估（即具有安全边际）的高质量公司。</blockquote></p><p> This process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.</p><p><blockquote>这个过程并不快速，也不会让你快速致富。它需要平凡的工作和翻转大量的岩石。在我们公司，我们阅读公司财务文件，与管理层、竞争对手交谈，建立我们自己的财务模型，在我们自己之间以及与我们的全球投资者网络讨论这些投资。</blockquote></p><p> Investors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.</p><p><blockquote>投资者可以从全球数万只股票中进行选择。在我们公司，我们只需要20到30个。当我们找不到足够多的符合我们严格投资标准的股票时，我们的现金余额会上升，然后随着我们找到新股票而下降。我们不把握市场时机；我们对个股进行估值，便宜时买入，贵时卖出。</blockquote></p><p></p><p> To sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. But&nbsp;we don’t own the market; instead we have assembled a portfolio of companies priced attractively at 30- to 60-cents on the dollar —&nbsp;one stock at a time.</p><p><blockquote>总而言之：今天的美国股市是一张接近2美元或更多的美元钞票。许多股票以1美元易手为4美元、6美元、20美元。但是我们不拥有市场；相反，我们组建了一个公司投资组合，其定价极具吸引力，每美元价格为30至60美分——一次一只股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/not-every-stock-is-in-a-bubble-heres-how-to-find-todays-bargains-and-tomorrows-winners-11630016489?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/not-every-stock-is-in-a-bubble-heres-how-to-find-todays-bargains-and-tomorrows-winners-11630016489?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149850459","content_text":"Look for high-quality companies, one stock at a time\nAGENCE FRANCE-PRESSE/GETTY IMAGES\nThe stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing “Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.\nThen there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).\nMarket timer’s gambit\nRational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.  They may play “Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.\nThere are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.\nHere is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.\nThe market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.\nYou were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.\nThe market declines another 10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.\nThe news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.  Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.\nYou get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.\nEven if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.\nOne stock at a time\nInvesting in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available: “One Stock at a Time.”\nEven in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).\nThis process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.\nInvestors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.\nTo sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. 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[白眼]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154757961","isVote":1,"tweetType":1,"viewCount":1407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":159515590,"gmtCreate":1624974152710,"gmtModify":1631888839564,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/558.SI\">$UMS HOLDINGS LIMITED(558.SI)$</a>what price to sell?&nbsp;","listText":"<a href=\"https://laohu8.com/S/558.SI\">$UMS HOLDINGS LIMITED(558.SI)$</a>what price to sell?&nbsp;","text":"$UMS HOLDINGS LIMITED(558.SI)$what price to sell?","images":[{"img":"https://static.tigerbbs.com/e16b027095df4f67f1abae0f921af68f","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/159515590","isVote":1,"tweetType":1,"viewCount":1160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":159652128,"gmtCreate":1624965428864,"gmtModify":1631889032629,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>finally moving up. Canpleaseeee continue to do so!!&nbsp;&nbsp;","listText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>finally moving up. Canpleaseeee continue to do so!!&nbsp;&nbsp;","text":"$OCEANUS GROUP LIMITED(579.SI)$finally moving up. Canpleaseeee continue to do so!!","images":[{"img":"https://static.tigerbbs.com/a3c8e591fe7a38ae9d451cd697135184","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159652128","isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":127717116,"gmtCreate":1624868997735,"gmtModify":1631891300352,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"More weakness so tt can enter&nbsp;","listText":"More weakness so tt can enter&nbsp;","text":"More weakness so tt can enter","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/127717116","repostId":"1163132894","repostType":4,"repost":{"id":"1163132894","kind":"news","pubTimestamp":1624863227,"share":"https://www.laohu8.com/m/news/1163132894?lang=zh_CN&edition=full","pubTime":"2021-06-28 14:53","market":"us","language":"en","title":"Tesla: Recent Weakness Is An Opportunity<blockquote>特斯拉：近期的疲软是一个机会</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163132894","media":"seekingalpha","summary":"Summary\n\nTesla has been declining during the recent months, creating opportunities for patient inves","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Tesla has been declining during the recent months, creating opportunities for patient investors.</li>  <li>Rising competition and profit concerns are not a problem for Tesla due to its key advantages.</li>  <li>Tesla's unique ecosystem and the size of the market will allow Tesla to continue its growth despite rising competition.</li>  <li>Although risks remain, I believe that Tesla is a long-term buy because the company is still in its growth phases.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/707bb99dcaa93d75f576a78ef1ecd11c\" tg-width=\"768\" tg-height=\"512\" referrerpolicy=\"no-referrer\"><span>jetcityimage/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>近几个月来，特斯拉一直在下跌，为耐心的投资者创造了机会。</li><li>由于特斯拉的关键优势，竞争加剧和利润担忧对其来说不是问题。</li><li>特斯拉独特的生态系统和市场规模将使特斯拉在竞争加剧的情况下继续增长。</li><li>尽管风险依然存在，但我相信特斯拉是长期买入的股票，因为该公司仍处于增长阶段。</li></ul><p class=\"t-img-caption\"><span>jetcityimage/iStock社论来自Getty Images</span></p></blockquote></p><p> <b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p> Over the past few months, Tesla stock has been struggling to move upwards. This could be seen as normal since the stock saw a massive bull run in 2020 and some noticeable risks started arising. One of these risks was inflationary pressure leading to investors speculating that the FED will taper and raise rates earlier than expected. This fear caused the overall tech and growth sector to decline. However, the inflationary fears dragging the tech and growth sector have been weakening over the past few months. Although the actual inflation seen in the CPI data worsened year-over-year, investors are reacting less negatively to the news, lessening the pressure on overall tech and growth stocks. Also, the 10-year treasury yield is declining finally setting up a potential for a rotation back into tech and growth. Thus, as the overall market is turning favorable for tech and growth stocks, I would like to discuss one of the most famous growth stocks, Tesla (NASDAQ:TSLA).</p><p><blockquote>过去几个月，特斯拉股价一直在努力上涨。这可以被视为正常，因为该股在2020年经历了大规模牛市，一些明显的风险开始出现。其中一个风险是通胀压力，导致投资者猜测美联储将比预期更早缩减和加息。这种担忧导致整个科技和增长行业下滑。然而，过去几个月，拖累科技和增长行业的通胀担忧一直在减弱。尽管CPI数据中的实际通胀同比恶化，但投资者对这一消息的负面反应较少，减轻了整体科技股和成长股的压力。此外，10年期国债收益率正在下降，最终为回归科技和增长领域奠定了基础。因此，随着整体市场转向有利于科技股和成长股，我想讨论一下最著名的成长股之一，特斯拉（纳斯达克：TSLA）。</blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Tesla recently has been under attack as investors started questioning valuations and competitive risks. Some bearish arguments pointed out that the competition was intensifying in the BEV (battery electric vehicle) industry, and that Tesla is still unprofitable without selling Bitcoin (BTC-USD) and carbon emissions credit. While I agree that these risks are legitimate and should be considered, I believe that these risks are insignificant to Tesla’s future opportunities. In fact, I think this short-term turmoil is only causing buying opportunities. Here’s why:</p><p><blockquote>随着投资者开始质疑估值和竞争风险，特斯拉最近受到了攻击。一些看跌观点指出，BEV（电池电动汽车）行业的竞争正在加剧，如果不出售比特币（BTC-USD）和碳排放额度，特斯拉仍然无法盈利。虽然我同意这些风险是合理的，应该考虑，但我认为这些风险对特斯拉未来的机会来说微不足道。事实上，我认为这种短期动荡只是造成了买入机会。原因如下：</blockquote></p><p> <ol>  <li>Tesla is creating its own ecosystem that no other automakers can replicate.</p><p><blockquote><ol><li>特斯拉正在创建自己的生态系统，这是其他汽车制造商无法复制的。</li></ol></blockquote></p><p></li>  <li>In the age where data is the new oil, Tesla is the only automaker utilizing the valuable data.</p><p><blockquote><li>在数据就是新石油的时代，特斯拉是唯一一家利用宝贵数据的汽车制造商。</li></blockquote></p><p></li> </ol> <b>Bears Say: Tesla Is Still Unprofitable</b></p><p><blockquote><b>看空者称：特斯拉仍未盈利</b></blockquote></p><p> By now, it is well known that Tesla’s profitability does not come from selling cars. Tesla, despite improvements over the years, still relies heavily on regulatory credits to generate income. I believe that this does not pose any problem. Tesla simply does not need to make money today; this may continue to be a threat in the short term, but I think the current profitability structure is fine from a long-term investor perspective. Tesla has been treading along the profitability breakeven point; I think Tesla is leveraging its ability to generate cash from selling regulatory credits to invest back into its growth. The BEV market is just getting started and as bears have pointed out, the competition is starting to roll in; thus, there is no reason for Tesla to sacrifice growth for profits today.</p><p><blockquote>到目前为止，众所周知，特斯拉的盈利能力并不来自于销售汽车。尽管多年来有所改善，但特斯拉仍然严重依赖监管信贷来创收。我相信这不会造成任何问题。特斯拉今天根本不需要赚钱；这在短期内可能会继续构成威胁，但我认为从长期投资者的角度来看，目前的盈利结构是好的。特斯拉一直在盈利盈亏平衡点上徘徊；我认为特斯拉正在利用其通过出售监管信贷产生现金的能力来重新投资于其增长。纯电动汽车市场才刚刚起步，正如看空者指出的那样，竞争已经开始滚滚而来；因此，特斯拉今天没有理由为了利润而牺牲增长。</blockquote></p><p> An example of Tesla focusing on growth instead of profits is Tesla’s commitment to making a&nbsp;25,000$ vehicle.This cheap vehicle will not be good for Tesla’s margins or net income; however, the vehicle will further strengthen Tesla’s ecosystem, which will be discussed later, and expand the overall BEV market. As the overall BEV market expands, the volume will soon follow, allowing Tesla to be more efficient with scale as the most expensive component in the vehicle, lithium-ion battery price decreases over time. Tesla’s strategy has been clear since the beginning: focus on growth. Nothing has changed but investors' expectations; profits will naturally follow as the market matures. Now is simply not the time to focus on profits.</p><p><blockquote>特斯拉关注增长而不是利润的一个例子是特斯拉承诺制造一辆25,000美元的汽车。这种廉价汽车对特斯拉的利润率或净利润没有好处；然而，该车将进一步加强特斯拉的生态系统（稍后将讨论），并扩大整体BEV市场。随着整个纯电动汽车市场的扩大，销量很快就会随之而来，使特斯拉能够通过规模化提高效率作为车辆中最昂贵的部件，锂离子电池的价格会随着时间的推移而下降。特斯拉的战略从一开始就很明确：专注于增长。除了投资者的预期，什么都没有改变；随着市场的成熟，利润自然会随之而来。现在根本不是关注利润的时候。</blockquote></p><p> Bloomberg: Quoting GM CEO Mary</p><p><blockquote>彭博社：引用通用汽车首席执行官玛丽</blockquote></p><p>   EV margins will match what they are today for combustion-engine cars by the “mid or later part of the decade.”  Furthermore, as the quote shows, EV profitability is not only Tesla’s problem. No automaker is making significant positive net income selling BEV vehicles today. Thus, Tesla's focus on growth and the economies of scale should not be criticized.</p><p><blockquote>到“本世纪中期或后期”，电动汽车的利润率将与目前内燃机汽车的利润率相当。此外，正如报价所示，电动汽车盈利能力不仅仅是特斯拉的问题。如今，没有一家汽车制造商通过销售纯电动汽车获得显着的正净利润。因此，特斯拉对增长和规模经济的关注不应受到批评。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/27aa28f3efd41460dca185274ea936eb\" tg-width=\"580\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As the picture above shows, Lithium-ion battery pack costs are continuing to decrease significantly, and as this trend accelerates, Tesla’s margin will naturally go up. Thus, Tesla’s best interest is still in growth and expansion rather than achieving limited profitability today.</p><p><blockquote>如上图所示，锂离子电池组成本正在持续大幅降低，而随着这一趋势的加速，特斯拉的利润率自然也就上去了。因此，特斯拉的最大利益仍然是增长和扩张，而不是今天实现有限的盈利。</blockquote></p><p> <b>Unique Ecosystem</b></p><p><blockquote><b>独特的生态系统</b></blockquote></p><p></p><p> Moving on to my bullish argument, Tesla has a unique ecosystem that can not be replicated by any other legacy automobile manufacturers. To know the importance of an ecosystem, we need to look at Apple(NASDAQ:AAPL). What makes Apple so different? Samsung (OTC:SSNLF)&nbsp;sells more phones than Apple, yet Apple makes more money, by far. Furthermore, iPhone does not have the highest specs. iPhones do not have the best camera (in terms of megapixels), biggest RAM, biggest storage, or best screen refresh rate. Then, why is Apple making so much money and why can't other manufacturers with similar technology replicate Apple’s success? The answer to this question, in my opinion, is that Apple has an ecosystem that can not be replicated by Samsung or any other phone maker. Consumers love Apple’s ecosystem that offers every service in a simple, immersive, and frictionless manner. Once a consumer enters this ecosystem, it is almost impossible to leave. Apple makes its own chips, operating system, music services, tablets, laptops, app stores, and many more services locking in loyal customers and selling products at higher margins. Then, what is Tesla’s ecosystem? It is still in the early stages, but Tesla is the only automaker that operates its own charging station allowing consumers to experience the frictionless ecosystem or connectivity. Tesla cars preheat the battery and get the battery ready for supercharging while the car locates the chargers and leads the driver to the superchargers. The ecosystem does not stop here, Tesla, like Apple, designs its own chips, own operating system, and autonomous driving technology, which creates an immersive and frictionless ecosystem like Apple. The software and charging experience is unmatched, and it is only getting better with the eventual rise of autonomous technology and rumored&nbsp;Tesla restaurants.</p><p><blockquote>继续我的看涨论点，特斯拉拥有独特的生态系统，任何其他传统汽车制造商都无法复制。要了解生态系统的重要性，我们需要看看苹果（纳斯达克：AAPL）。是什么让苹果如此不同？到目前为止，三星（场外交易代码：SSNLF）的手机销量比苹果多，但苹果赚的钱更多。此外，iPhone没有最高的规格。iPhones没有最好的摄像头（就百万像素而言）、最大的内存、最大的存储空间或最好的屏幕刷新率。那么，为什么苹果赚了这么多钱，为什么其他拥有类似技术的厂商无法复制苹果的成功呢？在我看来，这个问题的答案是，苹果拥有三星或任何其他手机制造商都无法复制的生态系统。消费者喜欢苹果的生态系统，它以简单、身临其境和无摩擦的方式提供每一项服务。消费者一旦进入这个生态系统，几乎不可能离开。苹果生产自己的芯片、操作系统、音乐服务、平板电脑、笔记本电脑、应用商店以及更多锁定忠诚客户并以更高利润销售产品的服务。那么，特斯拉的生态系统是什么？目前仍处于早期阶段，但特斯拉是唯一一家运营自己的充电站的汽车制造商，让消费者体验无摩擦的生态系统或连接。特斯拉汽车预热电池并为超级充电做好准备，同时汽车找到充电器并引导驾驶员前往超级充电站。生态系统并不止于此，特斯拉和苹果一样，设计自己的芯片、自己的操作系统和自动驾驶技术，这就像苹果一样创造了一个沉浸式、无摩擦的生态系统。软件和充电体验是无与伦比的，随着自动驾驶技术和传闻中的特斯拉餐厅的最终崛起，这种体验只会变得更好。</blockquote></p><p> This ecosystem will not only make Tesla unique, but it will also prevent consumers from moving over to its competitors because for consumers, it's all about modernized simplistic design with a frictionless experience that feels luxurious. I can't imagine any other automaker that can replicate Tesla’s brand and ecosystem. No automaker today is even close to providing its own superchargers, autonomous driving technologies, and unique software. Plus, no legacy automakers are or can sell FSD software for additional ten thousand dollars. The brand power, in my opinion, is strong enough to minimize the threat from the competition.</p><p><blockquote>这个生态系统不仅会使特斯拉独一无二，还会防止消费者转向其竞争对手，因为对于消费者来说，这一切都是关于现代化的简单设计和无摩擦的奢华体验。我无法想象任何其他汽车制造商能够复制特斯拉的品牌和生态系统。如今，没有一家汽车制造商能够提供自己的超级充电站、自动驾驶技术和独特的软件。此外，没有一家传统汽车制造商愿意或能够以额外一万美元的价格出售FSD软件。在我看来，品牌力量足够强大，可以将竞争的威胁降至最低。</blockquote></p><p> Thus, I believe investors do not need to worry too much about net income as long as the operational efficiencies do not get significantly worse. Tesla, in my opinion, is creating an ecosystem that will generate significant profitability through higher margins and more loyal customers in the future. Tesla is simply in its growth phases.</p><p><blockquote>因此，我认为只要运营效率没有明显恶化，投资者就不需要太担心净利润。在我看来，特斯拉正在创建一个生态系统，未来将通过更高的利润率和更忠诚的客户来产生可观的盈利能力。特斯拉正处于成长阶段。</blockquote></p><p> <b>Rising Competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Rising competition is a serious threat despite Tesla's unique ecosystem. I think it is true that the legacy automakers are posing some risks to Tesla; however, I believe that the risk is not great enough to hinder Tesla’s growth. I do agree that more prominent competitors like Volkswagen (OTCPK:VWAGY) do pose an immense threat, but I do not see this as the end of Tesla. In fact, I think both companies will thrive at the end of the day.</p><p><blockquote>尽管特斯拉拥有独特的生态系统，但日益加剧的竞争仍是一个严重威胁。我认为传统汽车制造商确实给特斯拉带来了一些风险；不过，我相信风险还没有大到阻碍特斯拉增长的程度。我确实同意大众汽车（OTCPK：VWAGY）等更突出的竞争对手确实构成了巨大的威胁，但我并不认为这是特斯拉的终结。事实上，我认为两家公司最终都会蓬勃发展。</blockquote></p><p> I will not go into details on why I believe that both Volkswagen and Tesla will succeed in the BEV market today because I will be focusing on why I think Tesla’s growth will not be affected by Volkswagen.</p><p><blockquote>我不会详细说明为什么我相信大众和特斯拉今天都会在纯电动汽车市场取得成功，因为我将重点关注为什么我认为特斯拉的增长不会受到大众的影响。</blockquote></p><p> First,the sheer size of the electric vehicle market&nbsp;is big enough to support multiple major players. In the age of ICE vehicles, Volkswagen was not the only major company. Similarly, I believe that the size of the EV market will support both Tesla, Volkswagen, and a few more companies. By 2025, the EV sales in the U.S. alone are expected to reach 6.9 million, far above 500,000 Tesla vehicle sales in 2020.</p><p><blockquote>首先，电动汽车市场的庞大规模足以支持多个主要参与者。在ICE汽车时代，大众并不是唯一的大公司。同样，我相信电动汽车市场的规模将支持特斯拉、大众和其他一些公司。到2025年，仅美国的电动汽车销量预计就将达到690万辆，远高于2020年50万辆的特斯拉汽车销量。</blockquote></p><p> Second, I believe Tesla has unique advantages like selling its FSD software for 10,000 dollars. We all know that selling EVs is not profitable yet, which makes Tesla selling its software extremely important. The Tesla brand is strong enough to sell an FSD software for 10,000 dollars. I believe that this advantage can not easily be implemented by other companies because it is the result of brand power and loyalty that comes from its ecosystem. By selling its software, Tesla can decrease the price of its vehicles, like in Japan and South Korea, while maintaining some levels of margin for growth Detering some threats from the competition.</p><p><blockquote>第二，我相信特斯拉有独特的优势，比如以10,000美元的价格出售其FSD软件。我们都知道销售电动汽车还没有盈利，这使得特斯拉销售其软件变得极其重要。特斯拉品牌强大到可以卖1万美元一个FSD软件。我相信这种优势不容易被其他公司实现，因为这是来自其生态系统的品牌力量和忠诚度的结果。通过出售其软件，特斯拉可以降低其汽车的价格，就像在日韩一样，同时保持一定水平的增长空间，阻止来自竞争的一些威胁。</blockquote></p><p> <b>Data Advantage</b></p><p><blockquote><b>数据优势</b></blockquote></p><p></p><p> Data, without any doubt, is becoming the new oil, getting more valuable by the seconds. The company that can correctly control and utilize data will be the winner going forward, and the very company utilizing massive amounts of user data is Tesla. Unlike any other autonomous driving technology developers, users pay Tesla to provide the company with the necessary data to improve the autonomous driving system. Google’s (NASDAQ:GOOG) Waymo uses specialized cars in heavily mapped areas to operate regional taxi networks, which costs money. However, Tesla’s customer, upon purchasing the vehicle, provides Tesla with valuable data for the company to process turning it into an autonomous vehicle technology. Also, the volume of the data Tesla can collect from its customers is simply unmatched. I think the advantage over the long term is obvious because the amount of data Tesla accumulates and utilizes will continue to far outpace any of its competitors potentially allowing Tesla to become one of the first companies to fully launch level 4 or above FSD.</p><p><blockquote>毫无疑问，数据正在成为新的石油，越来越有价值。能够正确控制和利用数据的公司将是未来的赢家，而利用海量用户数据的公司就是特斯拉。与其他任何自动驾驶技术开发商不同，用户向特斯拉付费，为该公司提供完善自动驾驶系统所需的数据。谷歌（纳斯达克股票代码：GOOG）的Waymo在地图密集的地区使用专门的汽车来运营区域出租车网络，这需要花钱。然而，特斯拉的客户在购买车辆后，向特斯拉提供了有价值的数据，供该公司处理将其转化为自动驾驶汽车技术。此外，特斯拉可以从客户那里收集的数据量是无与伦比的。我认为长期优势是显而易见的，因为特斯拉积累和利用的数据量将继续远远超过任何竞争对手，这可能使特斯拉成为首批全面推出4级或以上FSD的公司之一。</blockquote></p><p> <b>Risk</b></p><p><blockquote><b>风险</b></blockquote></p><p> I think the most obvious risk to my investment thesis is bias. Although I do not own any Tesla shares today, I have a very positive view of this company and plan to purchase shares in the coming weeks as I reallocate a portion of my portfolio to growth and tech stocks; thus, I may have introduced significant bias in my article by downplaying the competitive risk that Tesla faces. Also, because of my bias, I may have overstated the brand power that Tesla has.</p><p><blockquote>我认为我的投资论文最明显的风险是偏见。尽管我目前没有持有任何特斯拉股票，但我对这家公司持非常积极的看法，并计划在未来几周内购买股票，因为我将部分投资组合重新分配到成长型和科技股；因此，我可能在文章中淡化了特斯拉面临的竞争风险，从而引入了重大偏见。另外，由于我的偏见，我可能夸大了特斯拉的品牌影响力。</blockquote></p><p> Other than my bias, I believe political risk concerning China is one of Tesla's greatest threats. Political tensions between the countries led by the United States and China, are growing. During the past weekend,the G7 meeting further solidified this tension&nbsp;as the group of 7 nations targeted China’s human rights and coronavirus problems. The politics may change consumer sentiment in China or lead to Chinese government risk. For example, the&nbsp;Chinese government accused Tesla of spying on China using its cameras.It is clear that tensions are worsening and geopolitical threats will not be easing any time soon causing immense risk to Tesla.</p><p><blockquote>除了我的偏见，我认为涉华政治风险是特斯拉最大的威胁之一。以美国和中国为首的国家之间的政治紧张局势正在加剧。在过去的周末，七国集团会议进一步巩固了这种紧张局势，因为七国集团将目标对准了中国的人权和冠状病毒问题。政治可能会改变中国的消费者情绪或导致中国政府风险。例如，中国政府指责特斯拉利用其摄像头对中国进行间谍活动。很明显，紧张局势正在恶化，地缘政治威胁不会很快缓解，给特斯拉带来巨大风险。</blockquote></p><p> <b>Valuation and Financials</b></p><p><blockquote><b>估值和财务</b></blockquote></p><p> Multiple bearish arguments target that Tesla has an extremely high valuation at about 130 times the forward price to earnings. I believe that one must pay high prices for high-growth companies. Tesla is expected to grow its delivery volume by about 50% in 2021. I believe that his goal is achievable because Tesla is still selling less than 1 million vehicles a year, which is very small compared to competitors in the automobile industry. Also, the completion of Gigafactory Berlin and Austin later this year will contribute to the growth forecast. Finally, investors must take into account that Tesla is in its growth phases not growing profitability. As building EVs becomes profitable and Tesla enjoys the extra margin from its FSD software sale, profits have the potential to exponentially rise. Thus, I believe that the current argument on high valuation is not a huge concern. Investors need to look at Tesla as a high-growth company in its early stages.</p><p><blockquote>多个看跌论点的目标是特斯拉的估值极高，约为预期市盈率的130倍。我认为，高增长的公司必须付出高昂的代价。特斯拉预计2021年交付量将增长约50%。我相信他的目标是可以实现的，因为特斯拉一年的销量还不到100万辆，与汽车行业的竞争对手相比是非常小的。此外，今年晚些时候柏林和奥斯汀超级工厂的竣工将有助于增长预测。最后，投资者必须考虑到特斯拉正处于增长阶段，而不是盈利能力的增长。随着制造电动汽车变得有利可图，并且特斯拉从其FSD软件销售中获得额外利润，利润有可能呈指数级增长。因此，我认为目前关于高估值的争论并不是一个大问题。投资者需要将特斯拉视为一家处于早期阶段的高增长公司。</blockquote></p><p> Tesla's financials&nbsp;are fairly good suggesting that risks regarding financial health are limited. The company had about 17 billion dollars in cash and equivalents, which accounted for about 2.8% of the market cap. Tesla had a total asset of about 53 billion dollars and a total liability of about 28.5 billion dollars equating to a shareholder equity value of about 23 billion dollars and a liability to asset ratio (L/A) of about 53.7. The overall balance sheet poses no threat, and the immense cash pile is enough to support Tesla's growth; thus, I believe that Tesla's financials do not pose any threat to the company's future.</p><p><blockquote>特斯拉的财务状况相当良好，表明财务健康风险有限。该公司拥有约170亿美元现金及等价物，约占市值的2.8%。特斯拉的总资产约为530亿美元，总负债约为285亿美元，相当于股东权益价值约为230亿美元，资产负债率（L/A）约为53.7。整体资产负债表不构成威胁，庞大的现金储备足以支持特斯拉的增长；因此，我认为特斯拉的财务状况不会对公司的未来构成任何威胁。</blockquote></p><p> <b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> I believe that recent consolidation and weakness in Tesla is creating opportunities for long-term investors. Tesla is indeed unprofitable without regulatory credits and that competition is starting to heat up in the market. However, because Tesla is and was a growth company from the beginning, I believe that the profit levels today are acceptable. The company is simply choosing future growth over today's profits. Also, along with an EV market that can support multiple players, Tesla's unique ecosystem, brand loyalty, and data utilization will shield the company from experience any slow down. Rising competition is natural and should not be feared. Finally, the valuation and risk regarding China may be a concern; however, I believe, for reasons that I have discussed, Tesla is a buy today.</p><p><blockquote>我相信特斯拉最近的盘整和疲软正在为长期投资者创造机会。如果没有监管信用，特斯拉确实无法盈利，而且市场竞争开始升温。然而，由于特斯拉从一开始就是一家成长型公司，我相信今天的利润水平是可以接受的。该公司只是选择未来的增长而不是今天的利润。此外，除了可以支持多个参与者的电动汽车市场之外，特斯拉独特的生态系统、品牌忠诚度和数据利用率将使该公司免受任何放缓的影响。竞争加剧是自然的，不应该害怕。最后，中国的估值和风险可能令人担忧；然而，我相信，出于我已经讨论过的原因，特斯拉今天值得买入。</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>Tesla: Recent Weakness Is An Opportunity<blockquote>特斯拉：近期的疲软是一个机会</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\">\nTesla: Recent Weakness Is An Opportunity<blockquote>特斯拉：近期的疲软是一个机会</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-28 14:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Tesla has been declining during the recent months, creating opportunities for patient investors.</li>  <li>Rising competition and profit concerns are not a problem for Tesla due to its key advantages.</li>  <li>Tesla's unique ecosystem and the size of the market will allow Tesla to continue its growth despite rising competition.</li>  <li>Although risks remain, I believe that Tesla is a long-term buy because the company is still in its growth phases.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/707bb99dcaa93d75f576a78ef1ecd11c\" tg-width=\"768\" tg-height=\"512\" referrerpolicy=\"no-referrer\"><span>jetcityimage/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>近几个月来，特斯拉一直在下跌，为耐心的投资者创造了机会。</li><li>由于特斯拉的关键优势，竞争加剧和利润担忧对其来说不是问题。</li><li>特斯拉独特的生态系统和市场规模将使特斯拉在竞争加剧的情况下继续增长。</li><li>尽管风险依然存在，但我相信特斯拉是长期买入的股票，因为该公司仍处于增长阶段。</li></ul><p class=\"t-img-caption\"><span>jetcityimage/iStock社论来自Getty Images</span></p></blockquote></p><p> <b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p> Over the past few months, Tesla stock has been struggling to move upwards. This could be seen as normal since the stock saw a massive bull run in 2020 and some noticeable risks started arising. One of these risks was inflationary pressure leading to investors speculating that the FED will taper and raise rates earlier than expected. This fear caused the overall tech and growth sector to decline. However, the inflationary fears dragging the tech and growth sector have been weakening over the past few months. Although the actual inflation seen in the CPI data worsened year-over-year, investors are reacting less negatively to the news, lessening the pressure on overall tech and growth stocks. Also, the 10-year treasury yield is declining finally setting up a potential for a rotation back into tech and growth. Thus, as the overall market is turning favorable for tech and growth stocks, I would like to discuss one of the most famous growth stocks, Tesla (NASDAQ:TSLA).</p><p><blockquote>过去几个月，特斯拉股价一直在努力上涨。这可以被视为正常，因为该股在2020年经历了大规模牛市，一些明显的风险开始出现。其中一个风险是通胀压力，导致投资者猜测美联储将比预期更早缩减和加息。这种担忧导致整个科技和增长行业下滑。然而，过去几个月，拖累科技和增长行业的通胀担忧一直在减弱。尽管CPI数据中的实际通胀同比恶化，但投资者对这一消息的负面反应较少，减轻了整体科技股和成长股的压力。此外，10年期国债收益率正在下降，最终为回归科技和增长领域奠定了基础。因此，随着整体市场转向有利于科技股和成长股，我想讨论一下最著名的成长股之一，特斯拉（纳斯达克：TSLA）。</blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Tesla recently has been under attack as investors started questioning valuations and competitive risks. Some bearish arguments pointed out that the competition was intensifying in the BEV (battery electric vehicle) industry, and that Tesla is still unprofitable without selling Bitcoin (BTC-USD) and carbon emissions credit. While I agree that these risks are legitimate and should be considered, I believe that these risks are insignificant to Tesla’s future opportunities. In fact, I think this short-term turmoil is only causing buying opportunities. Here’s why:</p><p><blockquote>随着投资者开始质疑估值和竞争风险，特斯拉最近受到了攻击。一些看跌观点指出，BEV（电池电动汽车）行业的竞争正在加剧，如果不出售比特币（BTC-USD）和碳排放额度，特斯拉仍然无法盈利。虽然我同意这些风险是合理的，应该考虑，但我认为这些风险对特斯拉未来的机会来说微不足道。事实上，我认为这种短期动荡只是造成了买入机会。原因如下：</blockquote></p><p> <ol>  <li>Tesla is creating its own ecosystem that no other automakers can replicate.</p><p><blockquote><ol><li>特斯拉正在创建自己的生态系统，这是其他汽车制造商无法复制的。</li></ol></blockquote></p><p></li>  <li>In the age where data is the new oil, Tesla is the only automaker utilizing the valuable data.</p><p><blockquote><li>在数据就是新石油的时代，特斯拉是唯一一家利用宝贵数据的汽车制造商。</li></blockquote></p><p></li> </ol> <b>Bears Say: Tesla Is Still Unprofitable</b></p><p><blockquote><b>看空者称：特斯拉仍未盈利</b></blockquote></p><p> By now, it is well known that Tesla’s profitability does not come from selling cars. Tesla, despite improvements over the years, still relies heavily on regulatory credits to generate income. I believe that this does not pose any problem. Tesla simply does not need to make money today; this may continue to be a threat in the short term, but I think the current profitability structure is fine from a long-term investor perspective. Tesla has been treading along the profitability breakeven point; I think Tesla is leveraging its ability to generate cash from selling regulatory credits to invest back into its growth. The BEV market is just getting started and as bears have pointed out, the competition is starting to roll in; thus, there is no reason for Tesla to sacrifice growth for profits today.</p><p><blockquote>到目前为止，众所周知，特斯拉的盈利能力并不来自于销售汽车。尽管多年来有所改善，但特斯拉仍然严重依赖监管信贷来创收。我相信这不会造成任何问题。特斯拉今天根本不需要赚钱；这在短期内可能会继续构成威胁，但我认为从长期投资者的角度来看，目前的盈利结构是好的。特斯拉一直在盈利盈亏平衡点上徘徊；我认为特斯拉正在利用其通过出售监管信贷产生现金的能力来重新投资于其增长。纯电动汽车市场才刚刚起步，正如看空者指出的那样，竞争已经开始滚滚而来；因此，特斯拉今天没有理由为了利润而牺牲增长。</blockquote></p><p> An example of Tesla focusing on growth instead of profits is Tesla’s commitment to making a&nbsp;25,000$ vehicle.This cheap vehicle will not be good for Tesla’s margins or net income; however, the vehicle will further strengthen Tesla’s ecosystem, which will be discussed later, and expand the overall BEV market. As the overall BEV market expands, the volume will soon follow, allowing Tesla to be more efficient with scale as the most expensive component in the vehicle, lithium-ion battery price decreases over time. Tesla’s strategy has been clear since the beginning: focus on growth. Nothing has changed but investors' expectations; profits will naturally follow as the market matures. Now is simply not the time to focus on profits.</p><p><blockquote>特斯拉关注增长而不是利润的一个例子是特斯拉承诺制造一辆25,000美元的汽车。这种廉价汽车对特斯拉的利润率或净利润没有好处；然而，该车将进一步加强特斯拉的生态系统（稍后将讨论），并扩大整体BEV市场。随着整个纯电动汽车市场的扩大，销量很快就会随之而来，使特斯拉能够通过规模化提高效率作为车辆中最昂贵的部件，锂离子电池的价格会随着时间的推移而下降。特斯拉的战略从一开始就很明确：专注于增长。除了投资者的预期，什么都没有改变；随着市场的成熟，利润自然会随之而来。现在根本不是关注利润的时候。</blockquote></p><p> Bloomberg: Quoting GM CEO Mary</p><p><blockquote>彭博社：引用通用汽车首席执行官玛丽</blockquote></p><p>   EV margins will match what they are today for combustion-engine cars by the “mid or later part of the decade.”  Furthermore, as the quote shows, EV profitability is not only Tesla’s problem. No automaker is making significant positive net income selling BEV vehicles today. Thus, Tesla's focus on growth and the economies of scale should not be criticized.</p><p><blockquote>到“本世纪中期或后期”，电动汽车的利润率将与目前内燃机汽车的利润率相当。此外，正如报价所示，电动汽车盈利能力不仅仅是特斯拉的问题。如今，没有一家汽车制造商通过销售纯电动汽车获得显着的正净利润。因此，特斯拉对增长和规模经济的关注不应受到批评。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/27aa28f3efd41460dca185274ea936eb\" tg-width=\"580\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As the picture above shows, Lithium-ion battery pack costs are continuing to decrease significantly, and as this trend accelerates, Tesla’s margin will naturally go up. Thus, Tesla’s best interest is still in growth and expansion rather than achieving limited profitability today.</p><p><blockquote>如上图所示，锂离子电池组成本正在持续大幅降低，而随着这一趋势的加速，特斯拉的利润率自然也就上去了。因此，特斯拉的最大利益仍然是增长和扩张，而不是今天实现有限的盈利。</blockquote></p><p> <b>Unique Ecosystem</b></p><p><blockquote><b>独特的生态系统</b></blockquote></p><p></p><p> Moving on to my bullish argument, Tesla has a unique ecosystem that can not be replicated by any other legacy automobile manufacturers. To know the importance of an ecosystem, we need to look at Apple(NASDAQ:AAPL). What makes Apple so different? Samsung (OTC:SSNLF)&nbsp;sells more phones than Apple, yet Apple makes more money, by far. Furthermore, iPhone does not have the highest specs. iPhones do not have the best camera (in terms of megapixels), biggest RAM, biggest storage, or best screen refresh rate. Then, why is Apple making so much money and why can't other manufacturers with similar technology replicate Apple’s success? The answer to this question, in my opinion, is that Apple has an ecosystem that can not be replicated by Samsung or any other phone maker. Consumers love Apple’s ecosystem that offers every service in a simple, immersive, and frictionless manner. Once a consumer enters this ecosystem, it is almost impossible to leave. Apple makes its own chips, operating system, music services, tablets, laptops, app stores, and many more services locking in loyal customers and selling products at higher margins. Then, what is Tesla’s ecosystem? It is still in the early stages, but Tesla is the only automaker that operates its own charging station allowing consumers to experience the frictionless ecosystem or connectivity. Tesla cars preheat the battery and get the battery ready for supercharging while the car locates the chargers and leads the driver to the superchargers. The ecosystem does not stop here, Tesla, like Apple, designs its own chips, own operating system, and autonomous driving technology, which creates an immersive and frictionless ecosystem like Apple. The software and charging experience is unmatched, and it is only getting better with the eventual rise of autonomous technology and rumored&nbsp;Tesla restaurants.</p><p><blockquote>继续我的看涨论点，特斯拉拥有独特的生态系统，任何其他传统汽车制造商都无法复制。要了解生态系统的重要性，我们需要看看苹果（纳斯达克：AAPL）。是什么让苹果如此不同？到目前为止，三星（场外交易代码：SSNLF）的手机销量比苹果多，但苹果赚的钱更多。此外，iPhone没有最高的规格。iPhones没有最好的摄像头（就百万像素而言）、最大的内存、最大的存储空间或最好的屏幕刷新率。那么，为什么苹果赚了这么多钱，为什么其他拥有类似技术的厂商无法复制苹果的成功呢？在我看来，这个问题的答案是，苹果拥有三星或任何其他手机制造商都无法复制的生态系统。消费者喜欢苹果的生态系统，它以简单、身临其境和无摩擦的方式提供每一项服务。消费者一旦进入这个生态系统，几乎不可能离开。苹果生产自己的芯片、操作系统、音乐服务、平板电脑、笔记本电脑、应用商店以及更多锁定忠诚客户并以更高利润销售产品的服务。那么，特斯拉的生态系统是什么？目前仍处于早期阶段，但特斯拉是唯一一家运营自己的充电站的汽车制造商，让消费者体验无摩擦的生态系统或连接。特斯拉汽车预热电池并为超级充电做好准备，同时汽车找到充电器并引导驾驶员前往超级充电站。生态系统并不止于此，特斯拉和苹果一样，设计自己的芯片、自己的操作系统和自动驾驶技术，这就像苹果一样创造了一个沉浸式、无摩擦的生态系统。软件和充电体验是无与伦比的，随着自动驾驶技术和传闻中的特斯拉餐厅的最终崛起，这种体验只会变得更好。</blockquote></p><p> This ecosystem will not only make Tesla unique, but it will also prevent consumers from moving over to its competitors because for consumers, it's all about modernized simplistic design with a frictionless experience that feels luxurious. I can't imagine any other automaker that can replicate Tesla’s brand and ecosystem. No automaker today is even close to providing its own superchargers, autonomous driving technologies, and unique software. Plus, no legacy automakers are or can sell FSD software for additional ten thousand dollars. The brand power, in my opinion, is strong enough to minimize the threat from the competition.</p><p><blockquote>这个生态系统不仅会使特斯拉独一无二，还会防止消费者转向其竞争对手，因为对于消费者来说，这一切都是关于现代化的简单设计和无摩擦的奢华体验。我无法想象任何其他汽车制造商能够复制特斯拉的品牌和生态系统。如今，没有一家汽车制造商能够提供自己的超级充电站、自动驾驶技术和独特的软件。此外，没有一家传统汽车制造商愿意或能够以额外一万美元的价格出售FSD软件。在我看来，品牌力量足够强大，可以将竞争的威胁降至最低。</blockquote></p><p> Thus, I believe investors do not need to worry too much about net income as long as the operational efficiencies do not get significantly worse. Tesla, in my opinion, is creating an ecosystem that will generate significant profitability through higher margins and more loyal customers in the future. Tesla is simply in its growth phases.</p><p><blockquote>因此，我认为只要运营效率没有明显恶化，投资者就不需要太担心净利润。在我看来，特斯拉正在创建一个生态系统，未来将通过更高的利润率和更忠诚的客户来产生可观的盈利能力。特斯拉正处于成长阶段。</blockquote></p><p> <b>Rising Competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Rising competition is a serious threat despite Tesla's unique ecosystem. I think it is true that the legacy automakers are posing some risks to Tesla; however, I believe that the risk is not great enough to hinder Tesla’s growth. I do agree that more prominent competitors like Volkswagen (OTCPK:VWAGY) do pose an immense threat, but I do not see this as the end of Tesla. In fact, I think both companies will thrive at the end of the day.</p><p><blockquote>尽管特斯拉拥有独特的生态系统，但日益加剧的竞争仍是一个严重威胁。我认为传统汽车制造商确实给特斯拉带来了一些风险；不过，我相信风险还没有大到阻碍特斯拉增长的程度。我确实同意大众汽车（OTCPK：VWAGY）等更突出的竞争对手确实构成了巨大的威胁，但我并不认为这是特斯拉的终结。事实上，我认为两家公司最终都会蓬勃发展。</blockquote></p><p> I will not go into details on why I believe that both Volkswagen and Tesla will succeed in the BEV market today because I will be focusing on why I think Tesla’s growth will not be affected by Volkswagen.</p><p><blockquote>我不会详细说明为什么我相信大众和特斯拉今天都会在纯电动汽车市场取得成功，因为我将重点关注为什么我认为特斯拉的增长不会受到大众的影响。</blockquote></p><p> First,the sheer size of the electric vehicle market&nbsp;is big enough to support multiple major players. In the age of ICE vehicles, Volkswagen was not the only major company. Similarly, I believe that the size of the EV market will support both Tesla, Volkswagen, and a few more companies. By 2025, the EV sales in the U.S. alone are expected to reach 6.9 million, far above 500,000 Tesla vehicle sales in 2020.</p><p><blockquote>首先，电动汽车市场的庞大规模足以支持多个主要参与者。在ICE汽车时代，大众并不是唯一的大公司。同样，我相信电动汽车市场的规模将支持特斯拉、大众和其他一些公司。到2025年，仅美国的电动汽车销量预计就将达到690万辆，远高于2020年50万辆的特斯拉汽车销量。</blockquote></p><p> Second, I believe Tesla has unique advantages like selling its FSD software for 10,000 dollars. We all know that selling EVs is not profitable yet, which makes Tesla selling its software extremely important. The Tesla brand is strong enough to sell an FSD software for 10,000 dollars. I believe that this advantage can not easily be implemented by other companies because it is the result of brand power and loyalty that comes from its ecosystem. By selling its software, Tesla can decrease the price of its vehicles, like in Japan and South Korea, while maintaining some levels of margin for growth Detering some threats from the competition.</p><p><blockquote>第二，我相信特斯拉有独特的优势，比如以10,000美元的价格出售其FSD软件。我们都知道销售电动汽车还没有盈利，这使得特斯拉销售其软件变得极其重要。特斯拉品牌强大到可以卖1万美元一个FSD软件。我相信这种优势不容易被其他公司实现，因为这是来自其生态系统的品牌力量和忠诚度的结果。通过出售其软件，特斯拉可以降低其汽车的价格，就像在日韩一样，同时保持一定水平的增长空间，阻止来自竞争的一些威胁。</blockquote></p><p> <b>Data Advantage</b></p><p><blockquote><b>数据优势</b></blockquote></p><p></p><p> Data, without any doubt, is becoming the new oil, getting more valuable by the seconds. The company that can correctly control and utilize data will be the winner going forward, and the very company utilizing massive amounts of user data is Tesla. Unlike any other autonomous driving technology developers, users pay Tesla to provide the company with the necessary data to improve the autonomous driving system. Google’s (NASDAQ:GOOG) Waymo uses specialized cars in heavily mapped areas to operate regional taxi networks, which costs money. However, Tesla’s customer, upon purchasing the vehicle, provides Tesla with valuable data for the company to process turning it into an autonomous vehicle technology. Also, the volume of the data Tesla can collect from its customers is simply unmatched. I think the advantage over the long term is obvious because the amount of data Tesla accumulates and utilizes will continue to far outpace any of its competitors potentially allowing Tesla to become one of the first companies to fully launch level 4 or above FSD.</p><p><blockquote>毫无疑问，数据正在成为新的石油，越来越有价值。能够正确控制和利用数据的公司将是未来的赢家，而利用海量用户数据的公司就是特斯拉。与其他任何自动驾驶技术开发商不同，用户向特斯拉付费，为该公司提供完善自动驾驶系统所需的数据。谷歌（纳斯达克股票代码：GOOG）的Waymo在地图密集的地区使用专门的汽车来运营区域出租车网络，这需要花钱。然而，特斯拉的客户在购买车辆后，向特斯拉提供了有价值的数据，供该公司处理将其转化为自动驾驶汽车技术。此外，特斯拉可以从客户那里收集的数据量是无与伦比的。我认为长期优势是显而易见的，因为特斯拉积累和利用的数据量将继续远远超过任何竞争对手，这可能使特斯拉成为首批全面推出4级或以上FSD的公司之一。</blockquote></p><p> <b>Risk</b></p><p><blockquote><b>风险</b></blockquote></p><p> I think the most obvious risk to my investment thesis is bias. Although I do not own any Tesla shares today, I have a very positive view of this company and plan to purchase shares in the coming weeks as I reallocate a portion of my portfolio to growth and tech stocks; thus, I may have introduced significant bias in my article by downplaying the competitive risk that Tesla faces. Also, because of my bias, I may have overstated the brand power that Tesla has.</p><p><blockquote>我认为我的投资论文最明显的风险是偏见。尽管我目前没有持有任何特斯拉股票，但我对这家公司持非常积极的看法，并计划在未来几周内购买股票，因为我将部分投资组合重新分配到成长型和科技股；因此，我可能在文章中淡化了特斯拉面临的竞争风险，从而引入了重大偏见。另外，由于我的偏见，我可能夸大了特斯拉的品牌影响力。</blockquote></p><p> Other than my bias, I believe political risk concerning China is one of Tesla's greatest threats. Political tensions between the countries led by the United States and China, are growing. During the past weekend,the G7 meeting further solidified this tension&nbsp;as the group of 7 nations targeted China’s human rights and coronavirus problems. The politics may change consumer sentiment in China or lead to Chinese government risk. For example, the&nbsp;Chinese government accused Tesla of spying on China using its cameras.It is clear that tensions are worsening and geopolitical threats will not be easing any time soon causing immense risk to Tesla.</p><p><blockquote>除了我的偏见，我认为涉华政治风险是特斯拉最大的威胁之一。以美国和中国为首的国家之间的政治紧张局势正在加剧。在过去的周末，七国集团会议进一步巩固了这种紧张局势，因为七国集团将目标对准了中国的人权和冠状病毒问题。政治可能会改变中国的消费者情绪或导致中国政府风险。例如，中国政府指责特斯拉利用其摄像头对中国进行间谍活动。很明显，紧张局势正在恶化，地缘政治威胁不会很快缓解，给特斯拉带来巨大风险。</blockquote></p><p> <b>Valuation and Financials</b></p><p><blockquote><b>估值和财务</b></blockquote></p><p> Multiple bearish arguments target that Tesla has an extremely high valuation at about 130 times the forward price to earnings. I believe that one must pay high prices for high-growth companies. Tesla is expected to grow its delivery volume by about 50% in 2021. I believe that his goal is achievable because Tesla is still selling less than 1 million vehicles a year, which is very small compared to competitors in the automobile industry. Also, the completion of Gigafactory Berlin and Austin later this year will contribute to the growth forecast. Finally, investors must take into account that Tesla is in its growth phases not growing profitability. As building EVs becomes profitable and Tesla enjoys the extra margin from its FSD software sale, profits have the potential to exponentially rise. Thus, I believe that the current argument on high valuation is not a huge concern. Investors need to look at Tesla as a high-growth company in its early stages.</p><p><blockquote>多个看跌论点的目标是特斯拉的估值极高，约为预期市盈率的130倍。我认为，高增长的公司必须付出高昂的代价。特斯拉预计2021年交付量将增长约50%。我相信他的目标是可以实现的，因为特斯拉一年的销量还不到100万辆，与汽车行业的竞争对手相比是非常小的。此外，今年晚些时候柏林和奥斯汀超级工厂的竣工将有助于增长预测。最后，投资者必须考虑到特斯拉正处于增长阶段，而不是盈利能力的增长。随着制造电动汽车变得有利可图，并且特斯拉从其FSD软件销售中获得额外利润，利润有可能呈指数级增长。因此，我认为目前关于高估值的争论并不是一个大问题。投资者需要将特斯拉视为一家处于早期阶段的高增长公司。</blockquote></p><p> Tesla's financials&nbsp;are fairly good suggesting that risks regarding financial health are limited. The company had about 17 billion dollars in cash and equivalents, which accounted for about 2.8% of the market cap. Tesla had a total asset of about 53 billion dollars and a total liability of about 28.5 billion dollars equating to a shareholder equity value of about 23 billion dollars and a liability to asset ratio (L/A) of about 53.7. The overall balance sheet poses no threat, and the immense cash pile is enough to support Tesla's growth; thus, I believe that Tesla's financials do not pose any threat to the company's future.</p><p><blockquote>特斯拉的财务状况相当良好，表明财务健康风险有限。该公司拥有约170亿美元现金及等价物，约占市值的2.8%。特斯拉的总资产约为530亿美元，总负债约为285亿美元，相当于股东权益价值约为230亿美元，资产负债率（L/A）约为53.7。整体资产负债表不构成威胁，庞大的现金储备足以支持特斯拉的增长；因此，我认为特斯拉的财务状况不会对公司的未来构成任何威胁。</blockquote></p><p> <b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> I believe that recent consolidation and weakness in Tesla is creating opportunities for long-term investors. Tesla is indeed unprofitable without regulatory credits and that competition is starting to heat up in the market. However, because Tesla is and was a growth company from the beginning, I believe that the profit levels today are acceptable. The company is simply choosing future growth over today's profits. Also, along with an EV market that can support multiple players, Tesla's unique ecosystem, brand loyalty, and data utilization will shield the company from experience any slow down. Rising competition is natural and should not be feared. Finally, the valuation and risk regarding China may be a concern; however, I believe, for reasons that I have discussed, Tesla is a buy today.</p><p><blockquote>我相信特斯拉最近的盘整和疲软正在为长期投资者创造机会。如果没有监管信用，特斯拉确实无法盈利，而且市场竞争开始升温。然而，由于特斯拉从一开始就是一家成长型公司，我相信今天的利润水平是可以接受的。该公司只是选择未来的增长而不是今天的利润。此外，除了可以支持多个参与者的电动汽车市场之外，特斯拉独特的生态系统、品牌忠诚度和数据利用率将使该公司免受任何放缓的影响。竞争加剧是自然的，不应该害怕。最后，中国的估值和风险可能令人担忧；然而，我相信，出于我已经讨论过的原因，特斯拉今天值得买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436805-tesla-recent-weakness-is-an-opportunity\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4436805-tesla-recent-weakness-is-an-opportunity","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163132894","content_text":"Summary\n\nTesla has been declining during the recent months, creating opportunities for patient investors.\nRising competition and profit concerns are not a problem for Tesla due to its key advantages.\nTesla's unique ecosystem and the size of the market will allow Tesla to continue its growth despite rising competition.\nAlthough risks remain, I believe that Tesla is a long-term buy because the company is still in its growth phases.\n\njetcityimage/iStock Editorial via Getty Images\nIntroduction\nOver the past few months, Tesla stock has been struggling to move upwards. This could be seen as normal since the stock saw a massive bull run in 2020 and some noticeable risks started arising. One of these risks was inflationary pressure leading to investors speculating that the FED will taper and raise rates earlier than expected. This fear caused the overall tech and growth sector to decline. However, the inflationary fears dragging the tech and growth sector have been weakening over the past few months. Although the actual inflation seen in the CPI data worsened year-over-year, investors are reacting less negatively to the news, lessening the pressure on overall tech and growth stocks. Also, the 10-year treasury yield is declining finally setting up a potential for a rotation back into tech and growth. Thus, as the overall market is turning favorable for tech and growth stocks, I would like to discuss one of the most famous growth stocks, Tesla (NASDAQ:TSLA).\nInvestment Thesis\nTesla recently has been under attack as investors started questioning valuations and competitive risks. Some bearish arguments pointed out that the competition was intensifying in the BEV (battery electric vehicle) industry, and that Tesla is still unprofitable without selling Bitcoin (BTC-USD) and carbon emissions credit. While I agree that these risks are legitimate and should be considered, I believe that these risks are insignificant to Tesla’s future opportunities. In fact, I think this short-term turmoil is only causing buying opportunities. Here’s why:\n\nTesla is creating its own ecosystem that no other automakers can replicate.\nIn the age where data is the new oil, Tesla is the only automaker utilizing the valuable data.\n\nBears Say: Tesla Is Still Unprofitable\nBy now, it is well known that Tesla’s profitability does not come from selling cars. Tesla, despite improvements over the years, still relies heavily on regulatory credits to generate income. I believe that this does not pose any problem. Tesla simply does not need to make money today; this may continue to be a threat in the short term, but I think the current profitability structure is fine from a long-term investor perspective. Tesla has been treading along the profitability breakeven point; I think Tesla is leveraging its ability to generate cash from selling regulatory credits to invest back into its growth. The BEV market is just getting started and as bears have pointed out, the competition is starting to roll in; thus, there is no reason for Tesla to sacrifice growth for profits today.\nAn example of Tesla focusing on growth instead of profits is Tesla’s commitment to making a 25,000$ vehicle.This cheap vehicle will not be good for Tesla’s margins or net income; however, the vehicle will further strengthen Tesla’s ecosystem, which will be discussed later, and expand the overall BEV market. As the overall BEV market expands, the volume will soon follow, allowing Tesla to be more efficient with scale as the most expensive component in the vehicle, lithium-ion battery price decreases over time. Tesla’s strategy has been clear since the beginning: focus on growth. Nothing has changed but investors' expectations; profits will naturally follow as the market matures. Now is simply not the time to focus on profits.\nBloomberg: Quoting GM CEO Mary\n\n EV margins will match what they are today for combustion-engine cars by the “mid or later part of the decade.”\n\nFurthermore, as the quote shows, EV profitability is not only Tesla’s problem. No automaker is making significant positive net income selling BEV vehicles today. Thus, Tesla's focus on growth and the economies of scale should not be criticized.\n\nAs the picture above shows, Lithium-ion battery pack costs are continuing to decrease significantly, and as this trend accelerates, Tesla’s margin will naturally go up. Thus, Tesla’s best interest is still in growth and expansion rather than achieving limited profitability today.\nUnique Ecosystem\nMoving on to my bullish argument, Tesla has a unique ecosystem that can not be replicated by any other legacy automobile manufacturers. To know the importance of an ecosystem, we need to look at Apple(NASDAQ:AAPL). What makes Apple so different? Samsung (OTC:SSNLF) sells more phones than Apple, yet Apple makes more money, by far. Furthermore, iPhone does not have the highest specs. iPhones do not have the best camera (in terms of megapixels), biggest RAM, biggest storage, or best screen refresh rate. Then, why is Apple making so much money and why can't other manufacturers with similar technology replicate Apple’s success? The answer to this question, in my opinion, is that Apple has an ecosystem that can not be replicated by Samsung or any other phone maker. Consumers love Apple’s ecosystem that offers every service in a simple, immersive, and frictionless manner. Once a consumer enters this ecosystem, it is almost impossible to leave. Apple makes its own chips, operating system, music services, tablets, laptops, app stores, and many more services locking in loyal customers and selling products at higher margins. Then, what is Tesla’s ecosystem? It is still in the early stages, but Tesla is the only automaker that operates its own charging station allowing consumers to experience the frictionless ecosystem or connectivity. Tesla cars preheat the battery and get the battery ready for supercharging while the car locates the chargers and leads the driver to the superchargers. The ecosystem does not stop here, Tesla, like Apple, designs its own chips, own operating system, and autonomous driving technology, which creates an immersive and frictionless ecosystem like Apple. The software and charging experience is unmatched, and it is only getting better with the eventual rise of autonomous technology and rumored Tesla restaurants.\nThis ecosystem will not only make Tesla unique, but it will also prevent consumers from moving over to its competitors because for consumers, it's all about modernized simplistic design with a frictionless experience that feels luxurious. I can't imagine any other automaker that can replicate Tesla’s brand and ecosystem. No automaker today is even close to providing its own superchargers, autonomous driving technologies, and unique software. Plus, no legacy automakers are or can sell FSD software for additional ten thousand dollars. The brand power, in my opinion, is strong enough to minimize the threat from the competition.\nThus, I believe investors do not need to worry too much about net income as long as the operational efficiencies do not get significantly worse. Tesla, in my opinion, is creating an ecosystem that will generate significant profitability through higher margins and more loyal customers in the future. Tesla is simply in its growth phases.\nRising Competition\nRising competition is a serious threat despite Tesla's unique ecosystem. I think it is true that the legacy automakers are posing some risks to Tesla; however, I believe that the risk is not great enough to hinder Tesla’s growth. I do agree that more prominent competitors like Volkswagen (OTCPK:VWAGY) do pose an immense threat, but I do not see this as the end of Tesla. In fact, I think both companies will thrive at the end of the day.\nI will not go into details on why I believe that both Volkswagen and Tesla will succeed in the BEV market today because I will be focusing on why I think Tesla’s growth will not be affected by Volkswagen.\nFirst,the sheer size of the electric vehicle market is big enough to support multiple major players. In the age of ICE vehicles, Volkswagen was not the only major company. Similarly, I believe that the size of the EV market will support both Tesla, Volkswagen, and a few more companies. By 2025, the EV sales in the U.S. alone are expected to reach 6.9 million, far above 500,000 Tesla vehicle sales in 2020.\nSecond, I believe Tesla has unique advantages like selling its FSD software for 10,000 dollars. We all know that selling EVs is not profitable yet, which makes Tesla selling its software extremely important. The Tesla brand is strong enough to sell an FSD software for 10,000 dollars. I believe that this advantage can not easily be implemented by other companies because it is the result of brand power and loyalty that comes from its ecosystem. By selling its software, Tesla can decrease the price of its vehicles, like in Japan and South Korea, while maintaining some levels of margin for growth Detering some threats from the competition.\nData Advantage\nData, without any doubt, is becoming the new oil, getting more valuable by the seconds. The company that can correctly control and utilize data will be the winner going forward, and the very company utilizing massive amounts of user data is Tesla. Unlike any other autonomous driving technology developers, users pay Tesla to provide the company with the necessary data to improve the autonomous driving system. Google’s (NASDAQ:GOOG) Waymo uses specialized cars in heavily mapped areas to operate regional taxi networks, which costs money. However, Tesla’s customer, upon purchasing the vehicle, provides Tesla with valuable data for the company to process turning it into an autonomous vehicle technology. Also, the volume of the data Tesla can collect from its customers is simply unmatched. I think the advantage over the long term is obvious because the amount of data Tesla accumulates and utilizes will continue to far outpace any of its competitors potentially allowing Tesla to become one of the first companies to fully launch level 4 or above FSD.\nRisk\nI think the most obvious risk to my investment thesis is bias. Although I do not own any Tesla shares today, I have a very positive view of this company and plan to purchase shares in the coming weeks as I reallocate a portion of my portfolio to growth and tech stocks; thus, I may have introduced significant bias in my article by downplaying the competitive risk that Tesla faces. Also, because of my bias, I may have overstated the brand power that Tesla has.\nOther than my bias, I believe political risk concerning China is one of Tesla's greatest threats. Political tensions between the countries led by the United States and China, are growing. During the past weekend,the G7 meeting further solidified this tension as the group of 7 nations targeted China’s human rights and coronavirus problems. The politics may change consumer sentiment in China or lead to Chinese government risk. For example, the Chinese government accused Tesla of spying on China using its cameras.It is clear that tensions are worsening and geopolitical threats will not be easing any time soon causing immense risk to Tesla.\nValuation and Financials\nMultiple bearish arguments target that Tesla has an extremely high valuation at about 130 times the forward price to earnings. I believe that one must pay high prices for high-growth companies. Tesla is expected to grow its delivery volume by about 50% in 2021. I believe that his goal is achievable because Tesla is still selling less than 1 million vehicles a year, which is very small compared to competitors in the automobile industry. Also, the completion of Gigafactory Berlin and Austin later this year will contribute to the growth forecast. Finally, investors must take into account that Tesla is in its growth phases not growing profitability. As building EVs becomes profitable and Tesla enjoys the extra margin from its FSD software sale, profits have the potential to exponentially rise. Thus, I believe that the current argument on high valuation is not a huge concern. Investors need to look at Tesla as a high-growth company in its early stages.\nTesla's financials are fairly good suggesting that risks regarding financial health are limited. The company had about 17 billion dollars in cash and equivalents, which accounted for about 2.8% of the market cap. Tesla had a total asset of about 53 billion dollars and a total liability of about 28.5 billion dollars equating to a shareholder equity value of about 23 billion dollars and a liability to asset ratio (L/A) of about 53.7. The overall balance sheet poses no threat, and the immense cash pile is enough to support Tesla's growth; thus, I believe that Tesla's financials do not pose any threat to the company's future.\nSummary\nI believe that recent consolidation and weakness in Tesla is creating opportunities for long-term investors. Tesla is indeed unprofitable without regulatory credits and that competition is starting to heat up in the market. However, because Tesla is and was a growth company from the beginning, I believe that the profit levels today are acceptable. The company is simply choosing future growth over today's profits. Also, along with an EV market that can support multiple players, Tesla's unique ecosystem, brand loyalty, and data utilization will shield the company from experience any slow down. Rising competition is natural and should not be feared. Finally, the valuation and risk regarding China may be a concern; however, I believe, for reasons that I have discussed, Tesla is a buy today.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":122339637,"gmtCreate":1624596584829,"gmtModify":1631891300365,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Still got potential!","listText":"Still got potential!","text":"Still got potential!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/122339637","repostId":"1170542603","repostType":4,"repost":{"id":"1170542603","kind":"news","pubTimestamp":1624592567,"share":"https://www.laohu8.com/m/news/1170542603?lang=zh_CN&edition=full","pubTime":"2021-06-25 11:42","market":"us","language":"en","title":"Nokia Stock: From 5G Winner To Disappointment To Meme<blockquote>诺基亚股票：从5G赢家到失望再到模因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170542603","media":"thestreet","summary":"Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology tr","content":"<p>Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology transformation cycle to (3) a source of “juicy tendies” for Wall Street Bets traders. Five years ago, it would have been hard to guess what would have happened to Nokia stock&nbsp;(<b>NOKIA</b>)&nbsp;since the mid-2010s.</p><p><blockquote>诺基亚已经从（1）失败的手机巨头变成了（2）一个关键技术转型周期中可能的赢家，变成了（3）华尔街投注交易者的“多汁倾向”来源。五年前，很难猜测诺基亚股票会发生什么（<b>诺基亚</b>）自2010年代中期以来。</blockquote></p><p> Wall Street Meme tells the story of this tech stock that has morphed from growth to value to meme – and that after fits and starts, still trades around pre-dot com bubble prices.</p><p><blockquote>《华尔街迷因》讲述了这只科技股从增长型到价值型再到迷因型的故事，而且在经历了断断续续之后，其交易价格仍然围绕互联网泡沫前的价格进行。</blockquote></p><p> <b>Nokia: an unlikely journey</b></p><p><blockquote><b>诺基亚：不太可能的旅程</b></blockquote></p><p> In 2007, moments before Apple’s iPhone disrupted (or perhaps reinvented) the world of consumer mobile devices forever, Nokiacontrolled50% of the smartphone market. But the company’s fall from grace did not take long: Nokia accounted for less than 3% of the market by late 2012.</p><p><blockquote>2007年，就在苹果的iPhone永远颠覆（或者重塑）消费移动设备世界之前，诺基亚控制了智能手机市场50%的份额。但该公司的失宠并没有持续多久：截至2012年底，诺基亚的市场份额还不到3%。</blockquote></p><p> However, the Finnish growth story did not end there. Between 2016-2017, Nokia began drawing the attention of investors looking to bet on the 5G upgrade cycle that would likely start a couple of years later. The company’s network division had been struggling, but the management team believed in a turnaround as 5G infrastructure had to be built around the globe.</p><p><blockquote>然而，芬兰的增长故事并没有就此结束。2016年至2017年间，诺基亚开始吸引投资者的注意，他们希望押注可能在几年后开始的5G升级周期。该公司的网络部门一直在苦苦挣扎，但管理团队相信，随着5G基础设施必须在全球范围内建设，情况会有所好转。</blockquote></p><p> True to its roots, unfortunately,Nokia disappointed yet again. In 2019, the company warned that its recovery was in jeopardy, as competition with Ericsson and Huawei for 5G contracts became too fierce for Nokia to handle. The company’s dividend payment was slashed, and a restructuring process began.</p><p><blockquote>忠于其根源，不幸的是，诺基亚再次失望了。2019年，该公司警告称，其复苏处于危险之中，因为与爱立信和华为争夺5G合同的竞争变得过于激烈，诺基亚无法应对。该公司的股息支付被大幅削减，重组过程开始。</blockquote></p><p> <b>Meme stock for a day</b></p><p><blockquote><b>一天的模因股票</b></blockquote></p><p> For the past five years, Nokia stock consistently traded between $3 and $5 per share, with the eventual spikes and dips in share price eventually correcting. The notable exception happened on January 27 of this year.</p><p><blockquote>在过去的五年里，诺基亚股票的交易价格一直在每股3美元至5美元之间，股价的上涨和下跌最终都会有所调整。值得注意的例外发生在今年1月27日。</blockquote></p><p> On that day, Nokia climbed to $6.55 per share, from only $3.87 two weeks earlier. The stock was “victim” of a bullish Wall Street Bets meme attack, around the time that short interest reached a five-year high of 60 million shares – fertile ground for a short squeeze.</p><p><blockquote>当天，诺基亚股价从两周前的3.87美元攀升至每股6.55美元。该股是华尔街看涨押注模因攻击的“受害者”，当时空头兴趣达到了6000万股的五年高点——这是轧空的沃土。</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>Nokia Stock: From 5G Winner To Disappointment To Meme<blockquote>诺基亚股票：从5G赢家到失望再到模因</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\">\nNokia Stock: From 5G Winner To Disappointment To Meme<blockquote>诺基亚股票：从5G赢家到失望再到模因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">thestreet</strong><span class=\"h-time small\">2021-06-25 11:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology transformation cycle to (3) a source of “juicy tendies” for Wall Street Bets traders. Five years ago, it would have been hard to guess what would have happened to Nokia stock&nbsp;(<b>NOKIA</b>)&nbsp;since the mid-2010s.</p><p><blockquote>诺基亚已经从（1）失败的手机巨头变成了（2）一个关键技术转型周期中可能的赢家，变成了（3）华尔街投注交易者的“多汁倾向”来源。五年前，很难猜测诺基亚股票会发生什么（<b>诺基亚</b>）自2010年代中期以来。</blockquote></p><p> Wall Street Meme tells the story of this tech stock that has morphed from growth to value to meme – and that after fits and starts, still trades around pre-dot com bubble prices.</p><p><blockquote>《华尔街迷因》讲述了这只科技股从增长型到价值型再到迷因型的故事，而且在经历了断断续续之后，其交易价格仍然围绕互联网泡沫前的价格进行。</blockquote></p><p> <b>Nokia: an unlikely journey</b></p><p><blockquote><b>诺基亚：不太可能的旅程</b></blockquote></p><p> In 2007, moments before Apple’s iPhone disrupted (or perhaps reinvented) the world of consumer mobile devices forever, Nokiacontrolled50% of the smartphone market. But the company’s fall from grace did not take long: Nokia accounted for less than 3% of the market by late 2012.</p><p><blockquote>2007年，就在苹果的iPhone永远颠覆（或者重塑）消费移动设备世界之前，诺基亚控制了智能手机市场50%的份额。但该公司的失宠并没有持续多久：截至2012年底，诺基亚的市场份额还不到3%。</blockquote></p><p> However, the Finnish growth story did not end there. Between 2016-2017, Nokia began drawing the attention of investors looking to bet on the 5G upgrade cycle that would likely start a couple of years later. The company’s network division had been struggling, but the management team believed in a turnaround as 5G infrastructure had to be built around the globe.</p><p><blockquote>然而，芬兰的增长故事并没有就此结束。2016年至2017年间，诺基亚开始吸引投资者的注意，他们希望押注可能在几年后开始的5G升级周期。该公司的网络部门一直在苦苦挣扎，但管理团队相信，随着5G基础设施必须在全球范围内建设，情况会有所好转。</blockquote></p><p> True to its roots, unfortunately,Nokia disappointed yet again. In 2019, the company warned that its recovery was in jeopardy, as competition with Ericsson and Huawei for 5G contracts became too fierce for Nokia to handle. The company’s dividend payment was slashed, and a restructuring process began.</p><p><blockquote>忠于其根源，不幸的是，诺基亚再次失望了。2019年，该公司警告称，其复苏处于危险之中，因为与爱立信和华为争夺5G合同的竞争变得过于激烈，诺基亚无法应对。该公司的股息支付被大幅削减，重组过程开始。</blockquote></p><p> <b>Meme stock for a day</b></p><p><blockquote><b>一天的模因股票</b></blockquote></p><p> For the past five years, Nokia stock consistently traded between $3 and $5 per share, with the eventual spikes and dips in share price eventually correcting. The notable exception happened on January 27 of this year.</p><p><blockquote>在过去的五年里，诺基亚股票的交易价格一直在每股3美元至5美元之间，股价的上涨和下跌最终都会有所调整。值得注意的例外发生在今年1月27日。</blockquote></p><p> On that day, Nokia climbed to $6.55 per share, from only $3.87 two weeks earlier. The stock was “victim” of a bullish Wall Street Bets meme attack, around the time that short interest reached a five-year high of 60 million shares – fertile ground for a short squeeze.</p><p><blockquote>当天，诺基亚股价从两周前的3.87美元攀升至每股6.55美元。该股是华尔街看涨押注模因攻击的“受害者”，当时空头兴趣达到了6000万股的五年高点——这是轧空的沃土。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/memestocks/other-memes/nokia-stock-from-5g-winner-to-disappointment-to-meme\">thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NOK":"诺基亚"},"source_url":"https://www.thestreet.com/memestocks/other-memes/nokia-stock-from-5g-winner-to-disappointment-to-meme","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170542603","content_text":"Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology transformation cycle to (3) a source of “juicy tendies” for Wall Street Bets traders. Five years ago, it would have been hard to guess what would have happened to Nokia stock (NOKIA) since the mid-2010s.\nWall Street Meme tells the story of this tech stock that has morphed from growth to value to meme – and that after fits and starts, still trades around pre-dot com bubble prices.\nNokia: an unlikely journey\nIn 2007, moments before Apple’s iPhone disrupted (or perhaps reinvented) the world of consumer mobile devices forever, Nokiacontrolled50% of the smartphone market. But the company’s fall from grace did not take long: Nokia accounted for less than 3% of the market by late 2012.\nHowever, the Finnish growth story did not end there. Between 2016-2017, Nokia began drawing the attention of investors looking to bet on the 5G upgrade cycle that would likely start a couple of years later. The company’s network division had been struggling, but the management team believed in a turnaround as 5G infrastructure had to be built around the globe.\nTrue to its roots, unfortunately,Nokia disappointed yet again. In 2019, the company warned that its recovery was in jeopardy, as competition with Ericsson and Huawei for 5G contracts became too fierce for Nokia to handle. The company’s dividend payment was slashed, and a restructuring process began.\nMeme stock for a day\nFor the past five years, Nokia stock consistently traded between $3 and $5 per share, with the eventual spikes and dips in share price eventually correcting. The notable exception happened on January 27 of this year.\nOn that day, Nokia climbed to $6.55 per share, from only $3.87 two weeks earlier. The stock was “victim” of a bullish Wall Street Bets meme attack, around the time that short interest reached a five-year high of 60 million shares – fertile ground for a short squeeze.","news_type":1,"symbols_score_info":{"NOK":0.9}},"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":159515590,"gmtCreate":1624974152710,"gmtModify":1631888839564,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/558.SI\">$UMS HOLDINGS LIMITED(558.SI)$</a>what price to sell?&nbsp;","listText":"<a href=\"https://laohu8.com/S/558.SI\">$UMS HOLDINGS LIMITED(558.SI)$</a>what price to sell?&nbsp;","text":"$UMS HOLDINGS LIMITED(558.SI)$what price to sell?","images":[{"img":"https://static.tigerbbs.com/e16b027095df4f67f1abae0f921af68f","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/159515590","isVote":1,"tweetType":1,"viewCount":1160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":166333526,"gmtCreate":1623990969265,"gmtModify":1631889032631,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>not moving much for the longest time. Go upppp","listText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>not moving much for the longest time. Go upppp","text":"$OCEANUS GROUP LIMITED(579.SI)$not moving much for the longest time. Go upppp","images":[{"img":"https://static.tigerbbs.com/051aa4723ff9dcf88649b1d0e4f863a9","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":1,"link":"https://laohu8.com/post/166333526","isVote":1,"tweetType":1,"viewCount":916,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":148615592,"gmtCreate":1625971113716,"gmtModify":1631888783834,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Bought","listText":"Bought","text":"Bought","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/148615592","repostId":"2150326565","repostType":4,"isVote":1,"tweetType":1,"viewCount":792,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154757961,"gmtCreate":1625548112653,"gmtModify":1631889032625,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>please breakthrough!&nbsp;[白眼]&nbsp;&nbsp;","listText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>please breakthrough!&nbsp;[白眼]&nbsp;&nbsp;","text":"$OCEANUS GROUP LIMITED(579.SI)$please breakthrough! [白眼]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/154757961","isVote":1,"tweetType":1,"viewCount":1407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":890858750,"gmtCreate":1628093947770,"gmtModify":1631888783756,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>averaging down! 🙏💎","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>averaging down! 🙏💎","text":"$AMC Entertainment(AMC)$averaging down! 🙏💎","images":[{"img":"https://static.tigerbbs.com/878d6dadc28e57ebb835eba05a22c0ad","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":1,"link":"https://laohu8.com/post/890858750","isVote":1,"tweetType":1,"viewCount":3296,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":805804229,"gmtCreate":1627868364561,"gmtModify":1631888783772,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>[流泪]&nbsp;","listText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>[流泪]&nbsp;","text":"$OCEANUS GROUP LIMITED(579.SI)$[流泪]","images":[{"img":"https://static.tigerbbs.com/3e12f301571804886fcff8c031da50e3","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":1,"link":"https://laohu8.com/post/805804229","isVote":1,"tweetType":1,"viewCount":1150,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":144811967,"gmtCreate":1626274691859,"gmtModify":1631888783825,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>holdddd","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>holdddd","text":"$AMC Entertainment(AMC)$holdddd","images":[{"img":"https://static.tigerbbs.com/5f7a9ddecc8b517003cc08ff88c3eb0c","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/144811967","isVote":1,"tweetType":1,"viewCount":809,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":162443957,"gmtCreate":1624072961679,"gmtModify":1631883963129,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a>jiayou!!","listText":"<a href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a>jiayou!!","text":"$Micron Technology(MU)$jiayou!!","images":[{"img":"https://static.tigerbbs.com/e8d434ab3fc84ea13b5f1f463819e5fe","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/162443957","isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":122397279,"gmtCreate":1624596536091,"gmtModify":1631891300377,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Waiting for nok to moon!&nbsp;","listText":"Waiting for nok to moon!&nbsp;","text":"Waiting for nok to moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/122397279","repostId":"1147153207","repostType":4,"repost":{"id":"1147153207","kind":"news","pubTimestamp":1624592020,"share":"https://www.laohu8.com/m/news/1147153207?lang=zh_CN&edition=full","pubTime":"2021-06-25 11:33","market":"us","language":"en","title":"Meme Stocks: How The Most Popular Have Performed in 2021<blockquote>Meme股票：2021年最受欢迎的股票表现如何</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1147153207","media":"thestreet","summary":"Meme mania has been one of the most unexpected phenomena in the equities market in an already atypic","content":"<p>Meme mania has been one of the most unexpected phenomena in the equities market in an already atypical pandemic environment. The “meme attacks” have rarely been based on business fundamentals, but instead fueled by momentum and discussions on web forums that catalyze vicious rallies.</p><p><blockquote>在本已非典型的大流行环境中，模因狂热是股市中最意想不到的现象之一。“模因攻击”很少基于商业基本面，而是由网络论坛上催化恶性反弹的势头和讨论推动的。</blockquote></p><p> Below, the Wall Street Memes channel lists some of the most popular meme stocks and how each has performed so far in 2021.</p><p><blockquote>下面，华尔街模因频道列出了一些最受欢迎的模因股票以及每只股票在2021年迄今为止的表现。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac11607753df2d587eff881c858546dd\" tg-width=\"1200\" tg-height=\"798\" referrerpolicy=\"no-referrer\"><span>Figure 1: GameStop store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：游戏驿站店。</span></p></blockquote></p><p> <b>GME - GameStop Corp.</b></p><p><blockquote><b>GME-游戏驿站公司。</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>1,914%</b></li>  <li>Largest loss in 2021:<b>-88%</b></li>  <li>Peak price:<b>$347.51</b></li>  <li>Current price:<b>$200.18</b>(at last check).</li> </ul> <img src=\"https://static.tigerbbs.com/cc5e113c20912daf07551e09179fe9f2\" tg-width=\"1200\" tg-height=\"519\" referrerpolicy=\"no-referrer\"><b>AMC - AMC Theaters</b></p><p><blockquote><ul><li>2021年最大涨幅：<b>1,914%</b></li><li>2021年最大亏损：<b>-88%</b></li><li>峰值价格：<b>$347.51</b></li><li>当前价格：<b>$200.18</b>（最后一次检查）。</li></ul><b>AMC-AMC影院</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>2,850%</b></li>  <li>Largest loss in 2021:<b>-72%</b></li>  <li>Peak price:<b>$62.55</b></li>  <li>Current price:<b>$55.14</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e55df7c82d93174a0b4c088c17946a1\" tg-width=\"1200\" tg-height=\"533\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>2,850%</b></li><li>2021年最大亏损：<b>-72%</b></li><li>峰值价格：<b>$62.55</b></li><li>当前价格：<b>$55.14</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>BB - BlackBerry Limited</b></p><p><blockquote><b>BB-黑莓有限公司</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>281%</b></li>  <li>Largest loss in 2021:<b>-68%</b></li>  <li>Peak price:<b>$25.10</b></li>  <li>Current price:<b>$12.82</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00f988c9dcc4545d783ac29b2061f44d\" tg-width=\"1200\" tg-height=\"525\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>281%</b></li><li>2021年最大亏损：<b>-68%</b></li><li>峰值价格：<b>$25.10</b></li><li>当前价格：<b>$12.82</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>CLNE - Clean Energy Fuels Corp.</b></p><p><blockquote><b>CLNE-清洁能源燃料公司。</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>137%</b></li>  <li>Largest loss in 2021:<b>-59%</b></li>  <li>Peak price:<b>$18.64</b></li>  <li>Current price:<b>$11.22</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/42e24ea5dd3ca3f186eab5451fa7fcbc\" tg-width=\"1200\" tg-height=\"524\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>137%</b></li><li>2021年最大亏损：<b>-59%</b></li><li>峰值价格：<b>$18.64</b></li><li>当前价格：<b>$11.22</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>CLOV - Clover Health Investments</b></p><p><blockquote><b>CLOV-三叶草健康投资</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>224%</b></li>  <li>Largest loss in 2021:<b>-56%</b></li>  <li>Peak price:<b>$22.15</b></li>  <li>Current price:<b>$12.10</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ddfd7742b5b929d9febee80c5926f08f\" tg-width=\"1200\" tg-height=\"507\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>224%</b></li><li>2021年最大亏损：<b>-56%</b></li><li>峰值价格：<b>$22.15</b></li><li>当前价格：<b>$12.10</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>CLF - Cleveland-Cliff</b></p><p><blockquote><b>CLF-克利夫兰悬崖</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>83%</b></li>  <li>Largest loss in 2021:<b>-28%</b></li>  <li>Peak price:<b>$24.44</b></li>  <li>Current price:<b>$20.75</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15c8accc6baf5e68f5a1088eb8a75c4d\" tg-width=\"1200\" tg-height=\"524\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>83%</b></li><li>2021年最大亏损：<b>-28%</b></li><li>峰值价格：<b>$24.44</b></li><li>当前价格：<b>$20.75</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>TLRY - Tilray Pharmaceuticals</b></p><p><blockquote><b>TLRY-Tilray制药公司</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>610%</b></li>  <li>Largest loss in 2021:<b>-78%</b></li>  <li>Peak price:<b>$63.91</b></li>  <li>Current price:<b>$17.23</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dc9ed19b51e752ceff9a6534d4afd089\" tg-width=\"1200\" tg-height=\"510\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>610%</b></li><li>2021年最大亏损：<b>-78%</b></li><li>峰值价格：<b>$63.91</b></li><li>当前价格：<b>$17.23</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>NOK - Nokia Corporation</b></p><p><blockquote><b>NOK-诺基亚公司</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>69%</b></li>  <li>Largest loss in 2021:<b>-41%</b></li>  <li>Peak price:<b>$6.55</b></li>  <li>Current price:<b>$5.14</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33e920e940ac016540520a46acbcb0d5\" tg-width=\"1200\" tg-height=\"511\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>69%</b></li><li>2021年最大亏损：<b>-41%</b></li><li>峰值价格：<b>$6.55</b></li><li>当前价格：<b>$5.14</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></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>Meme Stocks: How The Most Popular Have Performed in 2021<blockquote>Meme股票：2021年最受欢迎的股票表现如何</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\">\nMeme Stocks: How The Most Popular Have Performed in 2021<blockquote>Meme股票：2021年最受欢迎的股票表现如何</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">thestreet</strong><span class=\"h-time small\">2021-06-25 11:33</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Meme mania has been one of the most unexpected phenomena in the equities market in an already atypical pandemic environment. The “meme attacks” have rarely been based on business fundamentals, but instead fueled by momentum and discussions on web forums that catalyze vicious rallies.</p><p><blockquote>在本已非典型的大流行环境中，模因狂热是股市中最意想不到的现象之一。“模因攻击”很少基于商业基本面，而是由网络论坛上催化恶性反弹的势头和讨论推动的。</blockquote></p><p> Below, the Wall Street Memes channel lists some of the most popular meme stocks and how each has performed so far in 2021.</p><p><blockquote>下面，华尔街模因频道列出了一些最受欢迎的模因股票以及每只股票在2021年迄今为止的表现。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ac11607753df2d587eff881c858546dd\" tg-width=\"1200\" tg-height=\"798\" referrerpolicy=\"no-referrer\"><span>Figure 1: GameStop store.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图1：游戏驿站店。</span></p></blockquote></p><p> <b>GME - GameStop Corp.</b></p><p><blockquote><b>GME-游戏驿站公司。</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>1,914%</b></li>  <li>Largest loss in 2021:<b>-88%</b></li>  <li>Peak price:<b>$347.51</b></li>  <li>Current price:<b>$200.18</b>(at last check).</li> </ul> <img src=\"https://static.tigerbbs.com/cc5e113c20912daf07551e09179fe9f2\" tg-width=\"1200\" tg-height=\"519\" referrerpolicy=\"no-referrer\"><b>AMC - AMC Theaters</b></p><p><blockquote><ul><li>2021年最大涨幅：<b>1,914%</b></li><li>2021年最大亏损：<b>-88%</b></li><li>峰值价格：<b>$347.51</b></li><li>当前价格：<b>$200.18</b>（最后一次检查）。</li></ul><b>AMC-AMC影院</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>2,850%</b></li>  <li>Largest loss in 2021:<b>-72%</b></li>  <li>Peak price:<b>$62.55</b></li>  <li>Current price:<b>$55.14</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2e55df7c82d93174a0b4c088c17946a1\" tg-width=\"1200\" tg-height=\"533\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>2,850%</b></li><li>2021年最大亏损：<b>-72%</b></li><li>峰值价格：<b>$62.55</b></li><li>当前价格：<b>$55.14</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>BB - BlackBerry Limited</b></p><p><blockquote><b>BB-黑莓有限公司</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>281%</b></li>  <li>Largest loss in 2021:<b>-68%</b></li>  <li>Peak price:<b>$25.10</b></li>  <li>Current price:<b>$12.82</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/00f988c9dcc4545d783ac29b2061f44d\" tg-width=\"1200\" tg-height=\"525\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>281%</b></li><li>2021年最大亏损：<b>-68%</b></li><li>峰值价格：<b>$25.10</b></li><li>当前价格：<b>$12.82</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>CLNE - Clean Energy Fuels Corp.</b></p><p><blockquote><b>CLNE-清洁能源燃料公司。</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>137%</b></li>  <li>Largest loss in 2021:<b>-59%</b></li>  <li>Peak price:<b>$18.64</b></li>  <li>Current price:<b>$11.22</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/42e24ea5dd3ca3f186eab5451fa7fcbc\" tg-width=\"1200\" tg-height=\"524\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>137%</b></li><li>2021年最大亏损：<b>-59%</b></li><li>峰值价格：<b>$18.64</b></li><li>当前价格：<b>$11.22</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>CLOV - Clover Health Investments</b></p><p><blockquote><b>CLOV-三叶草健康投资</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>224%</b></li>  <li>Largest loss in 2021:<b>-56%</b></li>  <li>Peak price:<b>$22.15</b></li>  <li>Current price:<b>$12.10</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ddfd7742b5b929d9febee80c5926f08f\" tg-width=\"1200\" tg-height=\"507\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>224%</b></li><li>2021年最大亏损：<b>-56%</b></li><li>峰值价格：<b>$22.15</b></li><li>当前价格：<b>$12.10</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>CLF - Cleveland-Cliff</b></p><p><blockquote><b>CLF-克利夫兰悬崖</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>83%</b></li>  <li>Largest loss in 2021:<b>-28%</b></li>  <li>Peak price:<b>$24.44</b></li>  <li>Current price:<b>$20.75</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/15c8accc6baf5e68f5a1088eb8a75c4d\" tg-width=\"1200\" tg-height=\"524\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>83%</b></li><li>2021年最大亏损：<b>-28%</b></li><li>峰值价格：<b>$24.44</b></li><li>当前价格：<b>$20.75</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>TLRY - Tilray Pharmaceuticals</b></p><p><blockquote><b>TLRY-Tilray制药公司</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>610%</b></li>  <li>Largest loss in 2021:<b>-78%</b></li>  <li>Peak price:<b>$63.91</b></li>  <li>Current price:<b>$17.23</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dc9ed19b51e752ceff9a6534d4afd089\" tg-width=\"1200\" tg-height=\"510\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>610%</b></li><li>2021年最大亏损：<b>-78%</b></li><li>峰值价格：<b>$63.91</b></li><li>当前价格：<b>$17.23</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p> <b>NOK - Nokia Corporation</b></p><p><blockquote><b>NOK-诺基亚公司</b></blockquote></p><p> <ul>  <li>Largest gain in 2021:<b>69%</b></li>  <li>Largest loss in 2021:<b>-41%</b></li>  <li>Peak price:<b>$6.55</b></li>  <li>Current price:<b>$5.14</b>(at last check).</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/33e920e940ac016540520a46acbcb0d5\" tg-width=\"1200\" tg-height=\"511\" referrerpolicy=\"no-referrer\"><span>Google Finance</span></p><p><blockquote><ul><li>2021年最大涨幅：<b>69%</b></li><li>2021年最大亏损：<b>-41%</b></li><li>峰值价格：<b>$6.55</b></li><li>当前价格：<b>$5.14</b>（最后一次检查）。</li></ul><p class=\"t-img-caption\"><span>谷歌金融</span></p></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/memestocks/other-memes/meme-stocks-how-the-most-popular-have-performed-in-2021\">thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TLRY":"Tilray Inc.","CLF":"克利夫兰克里夫","CLOV":"Clover Health Corp","AMC":"AMC院线","BB":"黑莓","NOK":"诺基亚","GME":"游戏驿站","CLNE":"Clean Energy Fuels Corp"},"source_url":"https://www.thestreet.com/memestocks/other-memes/meme-stocks-how-the-most-popular-have-performed-in-2021","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147153207","content_text":"Meme mania has been one of the most unexpected phenomena in the equities market in an already atypical pandemic environment. The “meme attacks” have rarely been based on business fundamentals, but instead fueled by momentum and discussions on web forums that catalyze vicious rallies.\nBelow, the Wall Street Memes channel lists some of the most popular meme stocks and how each has performed so far in 2021.\nFigure 1: GameStop store.\nGME - GameStop Corp.\n\nLargest gain in 2021:1,914%\nLargest loss in 2021:-88%\nPeak price:$347.51\nCurrent price:$200.18(at last check).\n\nAMC - AMC Theaters\n\nLargest gain in 2021:2,850%\nLargest loss in 2021:-72%\nPeak price:$62.55\nCurrent price:$55.14(at last check).\n\nGoogle Finance\nBB - BlackBerry Limited\n\nLargest gain in 2021:281%\nLargest loss in 2021:-68%\nPeak price:$25.10\nCurrent price:$12.82(at last check).\n\nGoogle Finance\nCLNE - Clean Energy Fuels Corp.\n\nLargest gain in 2021:137%\nLargest loss in 2021:-59%\nPeak price:$18.64\nCurrent price:$11.22(at last check).\n\nGoogle Finance\nCLOV - Clover Health Investments\n\nLargest gain in 2021:224%\nLargest loss in 2021:-56%\nPeak price:$22.15\nCurrent price:$12.10(at last check).\n\nGoogle Finance\nCLF - Cleveland-Cliff\n\nLargest gain in 2021:83%\nLargest loss in 2021:-28%\nPeak price:$24.44\nCurrent price:$20.75(at last check).\n\nGoogle Finance\nTLRY - Tilray Pharmaceuticals\n\nLargest gain in 2021:610%\nLargest loss in 2021:-78%\nPeak price:$63.91\nCurrent price:$17.23(at last check).\n\nGoogle Finance\nNOK - Nokia Corporation\n\nLargest gain in 2021:69%\nLargest loss in 2021:-41%\nPeak price:$6.55\nCurrent price:$5.14(at last check).\n\nGoogle Finance","news_type":1,"symbols_score_info":{"CLF":0.9,"NOK":0.9,"TLRY":0.9,"GME":0.9,"CLOV":0.9,"AMC":0.9,"BB":0.9,"CLNE":0.9}},"isVote":1,"tweetType":1,"viewCount":272,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129198266,"gmtCreate":1624363485955,"gmtModify":1631891300390,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/LPCN\">$Lipocine(LPCN)$</a>bought at 1.8. Will this ever move uppp","listText":"<a href=\"https://laohu8.com/S/LPCN\">$Lipocine(LPCN)$</a>bought at 1.8. Will this ever move uppp","text":"$Lipocine(LPCN)$bought at 1.8. Will this ever move uppp","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":1,"link":"https://laohu8.com/post/129198266","isVote":1,"tweetType":1,"viewCount":1519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819211432,"gmtCreate":1630072061126,"gmtModify":1704955526709,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a>怎么办","listText":"<a href=\"https://laohu8.com/S/WISH\">$ContextLogic Inc.(WISH)$</a>怎么办","text":"$ContextLogic Inc.(WISH)$怎么办","images":[{"img":"https://static.tigerbbs.com/2e6942cccd7fa562d22524995dcb79b1","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/819211432","isVote":1,"tweetType":1,"viewCount":4171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":835417565,"gmtCreate":1629731514957,"gmtModify":1631888783721,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>average down?","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>average down?","text":"$Alibaba(BABA)$average down?","images":[{"img":"https://static.tigerbbs.com/593c49bb10fe738943870e8703e315c3","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/835417565","isVote":1,"tweetType":1,"viewCount":3375,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":112280180,"gmtCreate":1622873613040,"gmtModify":1631891300424,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Bought at 248. Still at a lost &gt;.&lt; please pop moreee","listText":"Bought at 248. Still at a lost &gt;.&lt; please pop moreee","text":"Bought at 248. Still at a lost >.< please pop moreee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/112280180","repostId":"1152443659","repostType":4,"repost":{"id":"1152443659","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":1622763716,"share":"https://www.laohu8.com/m/news/1152443659?lang=zh_CN&edition=full","pubTime":"2021-06-04 07:41","market":"us","language":"en","title":"DocuSign stock pops on earnings, outlook beat<blockquote>DocuSign股价因盈利和前景超出预期而上涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1152443659","media":"Tiger Newspress","summary":"DocuSign Inc.DOCU shares rallied in the extended session Thursday after the digital agreement compan","content":"<p>DocuSign Inc.DOCU&nbsp;shares rallied in the extended session Thursday after the digital agreement company’s quarterly results and outlook surpassed Wall Street expectations.</p><p><blockquote>DocuSign Inc.DOCU股价在周四的延长交易中上涨，此前这家数字协议公司的季度业绩和前景超出了华尔街的预期。</blockquote></p><p>DocuSign shares surged 6% after hours, following a 2.9% decline in the regular session to close at $194.75.<img src=\"https://static.tigerbbs.com/578ee3c53b3c742759847ae47899cb7d\" tg-width=\"690\" tg-height=\"525\" referrerpolicy=\"no-referrer\">The company reported a first-quarter loss of $8.4 million, or 4 cents a share, compared with $47.8 million, or 26 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 44 cents a share, compared with 12 cents a share in the year-ago period. Revenue rose to $469.1 million from $297 million in the year-ago quarter.<img src=\"https://static.tigerbbs.com/a2d3573459a411aad99768fbedb2c53a\" tg-width=\"1037\" tg-height=\"687\" referrerpolicy=\"no-referrer\"></p><p><blockquote>DocuSign股价盘后飙升6%，常规交易时段下跌2.9%，收于194.75美元。该公司报告第一季度亏损840万美元，即每股亏损4美分，而去年同期亏损4780万美元，即每股亏损26美分。不包括股票薪酬费用和其他项目的调整后收益为每股44美分，而去年同期为每股12美分。收入从去年同期的2.97亿美元增至4.691亿美元。</blockquote></p><p>Analysts surveyed by FactSet had forecast 28 cents a share on revenue of $437.6 million. DocuSign forecast revenue of $479 million to $485 million for the second quarter, and $2.03 billion to $2.04 billion for the year. Analysts had estimated revenue of $474.2 million for the second quarter, and revenue of $1.99 billion for the year.</p><p><blockquote>FactSet调查的分析师此前预测每股28美分，营收为4.376亿美元。DocuSign预计第二季度营收为4.79亿美元至4.85亿美元，全年营收为20.3亿美元至20.4亿美元。分析师此前预计第二季度营收为4.742亿美元，全年营收为19.9亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DocuSign stock pops on earnings, outlook beat<blockquote>DocuSign股价因盈利和前景超出预期而上涨</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\">\nDocuSign stock pops on earnings, outlook beat<blockquote>DocuSign股价因盈利和前景超出预期而上涨</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\">2021-06-04 07:41</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>DocuSign Inc.DOCU&nbsp;shares rallied in the extended session Thursday after the digital agreement company’s quarterly results and outlook surpassed Wall Street expectations.</p><p><blockquote>DocuSign Inc.DOCU股价在周四的延长交易中上涨，此前这家数字协议公司的季度业绩和前景超出了华尔街的预期。</blockquote></p><p>DocuSign shares surged 6% after hours, following a 2.9% decline in the regular session to close at $194.75.<img src=\"https://static.tigerbbs.com/578ee3c53b3c742759847ae47899cb7d\" tg-width=\"690\" tg-height=\"525\" referrerpolicy=\"no-referrer\">The company reported a first-quarter loss of $8.4 million, or 4 cents a share, compared with $47.8 million, or 26 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 44 cents a share, compared with 12 cents a share in the year-ago period. Revenue rose to $469.1 million from $297 million in the year-ago quarter.<img src=\"https://static.tigerbbs.com/a2d3573459a411aad99768fbedb2c53a\" tg-width=\"1037\" tg-height=\"687\" referrerpolicy=\"no-referrer\"></p><p><blockquote>DocuSign股价盘后飙升6%，常规交易时段下跌2.9%，收于194.75美元。该公司报告第一季度亏损840万美元，即每股亏损4美分，而去年同期亏损4780万美元，即每股亏损26美分。不包括股票薪酬费用和其他项目的调整后收益为每股44美分，而去年同期为每股12美分。收入从去年同期的2.97亿美元增至4.691亿美元。</blockquote></p><p>Analysts surveyed by FactSet had forecast 28 cents a share on revenue of $437.6 million. DocuSign forecast revenue of $479 million to $485 million for the second quarter, and $2.03 billion to $2.04 billion for the year. Analysts had estimated revenue of $474.2 million for the second quarter, and revenue of $1.99 billion for the year.</p><p><blockquote>FactSet调查的分析师此前预测每股28美分，营收为4.376亿美元。DocuSign预计第二季度营收为4.79亿美元至4.85亿美元，全年营收为20.3亿美元至20.4亿美元。分析师此前预计第二季度营收为4.742亿美元，全年营收为19.9亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DOCU":"Docusign"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152443659","content_text":"DocuSign Inc.DOCU shares rallied in the extended session Thursday after the digital agreement company’s quarterly results and outlook surpassed Wall Street expectations.DocuSign shares surged 6% after hours, following a 2.9% decline in the regular session to close at $194.75.The company reported a first-quarter loss of $8.4 million, or 4 cents a share, compared with $47.8 million, or 26 cents a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 44 cents a share, compared with 12 cents a share in the year-ago period. Revenue rose to $469.1 million from $297 million in the year-ago quarter.Analysts surveyed by FactSet had forecast 28 cents a share on revenue of $437.6 million. DocuSign forecast revenue of $479 million to $485 million for the second quarter, and $2.03 billion to $2.04 billion for the year. Analysts had estimated revenue of $474.2 million for the second quarter, and revenue of $1.99 billion for the year.","news_type":1,"symbols_score_info":{"DOCU":0.9}},"isVote":1,"tweetType":1,"viewCount":439,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":113437467,"gmtCreate":1622632538759,"gmtModify":1631891300439,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Really sad abt this. Sold too early [流泪]&nbsp;","listText":"Really sad abt this. Sold too early [流泪]&nbsp;","text":"Really sad abt this. Sold too early [流泪]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/113437467","repostId":"1126269956","repostType":4,"repost":{"id":"1126269956","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":1622620933,"share":"https://www.laohu8.com/m/news/1126269956?lang=zh_CN&edition=full","pubTime":"2021-06-02 16:02","market":"us","language":"en","title":"AMC stock gains extended to 31% in premarket trading<blockquote>AMC股价盘前交易涨幅扩大至31%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126269956","media":"Tiger Newspress","summary":"AMC stock gains extended to 31% in premarket trading although Mudrick sold Entire AMC Stake and Call","content":"<p>AMC stock gains extended to 31% in premarket trading&nbsp;although&nbsp;Mudrick sold Entire AMC Stake&nbsp;and&nbsp;Called Shares Overvalued.</p><p><blockquote>尽管穆德里克出售了全部AMC股份并称股价被高估，但AMC股价在盘前交易中涨幅扩大至31%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e448fc065537b715680a70c18646e5e8\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p>Mudrick Capital&nbsp;sold all its stock in&nbsp;AMC Entertainment Holdings Inc.&nbsp;as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.</p><p><blockquote>据一位知情人士透露，截至周二，Mudrick Capital出售了其在AMC院线控股公司的所有股票，同一天，这家连锁电影院披露，该投资公司已购买了价值2.305亿美元的新股以增强其财务状况。</blockquote></p><p>Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.</p><p><blockquote>这位因讨论私人事务而要求匿名的人士表示，穆德里克不再持有任何AMC股票并出售获利。该人士表示，在最近一波日内交易者热情的支撑下，该公司得出AMC股票被高估的结论后，出售了其股份。</blockquote></p><p><img src=\"https://static.tigerbbs.com/d389ac323e1c44b06c71b87fefcdcfaa\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.</p><p><blockquote>截至纽约收盘，AMC股价上涨23%，至32.04美元。该股5月份上涨了一倍多，今年迄今的涨幅高达1,411%。</blockquote></p><p><b>No Lockup</b></p><p><blockquote><b>无锁定</b></blockquote></p><p>AMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.</p><p><blockquote>AMC周二表示，已向Mudrick出售股票，并计划“继续进攻”进行收购。与总部位于纽约的Mudrick达成的协议是以每股27.12美元的价格购买850万股普通股。股票购买保证股票将“自由交易”，这意味着公司可以在任何时间或以任何数量出售股票。</blockquote></p><p>Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.</p><p><blockquote>债务持有人也从最近的股市反弹中受益。其一些2026年到期的垃圾级第二留置权债券在11月份的交易价格低至1美元兑5美分，现在已接近面值，2027年到期的高级次级票据的报价周二上涨约4.5美分，至近80美分。</blockquote></p><p>Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.</p><p><blockquote>穆德里克过去曾在AMC上下过大赌注，帮助这家连锁电影院度过了疫情。今年1月，该公司同意购买1亿美元的新担保债券，以换取相当于约800万股AMC股票的承诺费。该协议还要求穆德里克将2026年到期的1亿美元AMC债券换成约1370万股。</blockquote></p><p>Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.</p><p><blockquote>Jason Mudrick此前曾在Contrarian Capital Management工作，并于2009年创立了自己的公司。他的公司专门研究陷入困境的公司，通过收购之前由CVC Credit Partners运营的信用对冲基金，正在进一步向欧洲扩张。</blockquote></p><p>AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.</p><p><blockquote>AMC今年一直致力于通过债务和股权交易筹集现金，这有助于避免破产，而其影院因冠状病毒大流行而关闭。穆德里克是建议该公司出售更多股票以偿还债务的投资者和债权人之一。</blockquote></p><p>The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.</p><p><blockquote>AMC首席执行官亚当·阿伦(Adam Aron)在一份声明中表示，最近与穆德里克的交易“将使我们能够积极追求最有价值的剧院资产，并对我们的业务进行其他战略投资并寻求去杠杆化机会”披露股票出售的声明。</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 stock gains extended to 31% in premarket trading<blockquote>AMC股价盘前交易涨幅扩大至31%</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 stock gains extended to 31% in premarket trading<blockquote>AMC股价盘前交易涨幅扩大至31%</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\">2021-06-02 16:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>AMC stock gains extended to 31% in premarket trading&nbsp;although&nbsp;Mudrick sold Entire AMC Stake&nbsp;and&nbsp;Called Shares Overvalued.</p><p><blockquote>尽管穆德里克出售了全部AMC股份并称股价被高估，但AMC股价在盘前交易中涨幅扩大至31%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/e448fc065537b715680a70c18646e5e8\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p>Mudrick Capital&nbsp;sold all its stock in&nbsp;AMC Entertainment Holdings Inc.&nbsp;as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.</p><p><blockquote>据一位知情人士透露，截至周二，Mudrick Capital出售了其在AMC院线控股公司的所有股票，同一天，这家连锁电影院披露，该投资公司已购买了价值2.305亿美元的新股以增强其财务状况。</blockquote></p><p>Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.</p><p><blockquote>这位因讨论私人事务而要求匿名的人士表示，穆德里克不再持有任何AMC股票并出售获利。该人士表示，在最近一波日内交易者热情的支撑下，该公司得出AMC股票被高估的结论后，出售了其股份。</blockquote></p><p><img src=\"https://static.tigerbbs.com/d389ac323e1c44b06c71b87fefcdcfaa\" tg-width=\"1200\" tg-height=\"675\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.</p><p><blockquote>截至纽约收盘，AMC股价上涨23%，至32.04美元。该股5月份上涨了一倍多，今年迄今的涨幅高达1,411%。</blockquote></p><p><b>No Lockup</b></p><p><blockquote><b>无锁定</b></blockquote></p><p>AMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.</p><p><blockquote>AMC周二表示，已向Mudrick出售股票，并计划“继续进攻”进行收购。与总部位于纽约的Mudrick达成的协议是以每股27.12美元的价格购买850万股普通股。股票购买保证股票将“自由交易”，这意味着公司可以在任何时间或以任何数量出售股票。</blockquote></p><p>Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.</p><p><blockquote>债务持有人也从最近的股市反弹中受益。其一些2026年到期的垃圾级第二留置权债券在11月份的交易价格低至1美元兑5美分，现在已接近面值，2027年到期的高级次级票据的报价周二上涨约4.5美分，至近80美分。</blockquote></p><p>Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.</p><p><blockquote>穆德里克过去曾在AMC上下过大赌注，帮助这家连锁电影院度过了疫情。今年1月，该公司同意购买1亿美元的新担保债券，以换取相当于约800万股AMC股票的承诺费。该协议还要求穆德里克将2026年到期的1亿美元AMC债券换成约1370万股。</blockquote></p><p>Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.</p><p><blockquote>Jason Mudrick此前曾在Contrarian Capital Management工作，并于2009年创立了自己的公司。他的公司专门研究陷入困境的公司，通过收购之前由CVC Credit Partners运营的信用对冲基金，正在进一步向欧洲扩张。</blockquote></p><p>AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.</p><p><blockquote>AMC今年一直致力于通过债务和股权交易筹集现金，这有助于避免破产，而其影院因冠状病毒大流行而关闭。穆德里克是建议该公司出售更多股票以偿还债务的投资者和债权人之一。</blockquote></p><p>The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.</p><p><blockquote>AMC首席执行官亚当·阿伦(Adam Aron)在一份声明中表示，最近与穆德里克的交易“将使我们能够积极追求最有价值的剧院资产，并对我们的业务进行其他战略投资并寻求去杠杆化机会”披露股票出售的声明。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126269956","content_text":"AMC stock gains extended to 31% in premarket trading although Mudrick sold Entire AMC Stake and Called Shares Overvalued.Mudrick Capital sold all its stock in AMC Entertainment Holdings Inc. as of Tuesday, the same day the movie theater chain disclosed that the investment firm had bought $230.5 million of fresh shares to bolster its finances, according to a person with knowledge of the matter.Mudrick no longer holds any AMC shares and sold at a profit, the person said, asking not to be identified discussing a private matter. The firm disposed of its stake after concluding that AMC’s stock is overvalued, propped up by a recent wave of day-trader enthusiasm, the person said.AMC jumped 23% to $32.04 at the close in New York. The shares more than doubled in May, pushing the year-to-date gain to a whopping 1,411% for the year.No LockupAMC said Tuesday it sold stock to Mudrick with plans to “go on offense” for acquisitions. The agreement with New York-based Mudrick was for 8.5 million shares of common stock at $27.12 apiece. The stock purchase came with the assurance that the shares would be “freely tradable,” meaning the firm could sell the shares at any point or in any amount it chose.Debt holders have also benefited from the recent equity rally. Some of its junk-rated second lien bonds due 2026 that were trading as low as 5 cents on the dollar in November are now close to face value, and quotes on its senior subordinated notes maturing in 2027 jumped about 4.5 cents Tuesday to almost 80 cents.Mudrick has made big bets on AMC in the past, helping the movie theater chain as it pushed through the pandemic. In January, the firm agreed to buy $100 million of new secured bonds in exchange for a commitment fee equal to about 8 million AMC shares. The agreement also called for Mudrick to exchange $100 million of AMC bonds due 2026 for about 13.7 million shares.Jason Mudrick previously worked at Contrarian Capital Management and founded his firm in 2009. His firm, which specializes in distressed companies, is expanding further into Europe with thetakeoverof a credit hedge fund previously run by CVC Credit Partners.AMC has worked this year to raise cash through debt and equity deals, which helped stave off bankruptcy while its theaters were closed because of the coronavirus pandemic. Mudrick was among investors and creditors who suggested it sell more shares to pay down debt.The most recent deal with Mudrick “will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities,” AMC Chief Executive Officer Adam Aron said in a statement disclosing the share sale.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":668,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":819264406,"gmtCreate":1630073195805,"gmtModify":1704955560229,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Good read. V true","listText":"Good read. V true","text":"Good read. V true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/819264406","repostId":"1149850459","repostType":4,"repost":{"id":"1149850459","kind":"news","pubTimestamp":1630048146,"share":"https://www.laohu8.com/m/news/1149850459?lang=zh_CN&edition=full","pubTime":"2021-08-27 15:09","market":"us","language":"en","title":"Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners<blockquote>并非所有股票都存在泡沫。以下是如何找到今天的便宜货和明天的赢家</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1149850459","media":"MarketWatch","summary":"Look for high-quality companies, one stock at a time\nAGENCE FRANCE-PRESSE/GETTY IMAGES\nThe stock mar","content":"<p>Look for high-quality companies, one stock at a time</p><p><blockquote>寻找优质公司，一次一只股票</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/92d5fb452d9db7f672a2a9eec51862eb\" tg-width=\"700\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>法新社/盖蒂图片社</span></p></blockquote></p><p> The stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing&nbsp;“Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.</p><p><blockquote>股市处于泡沫之中；这不是什么秘密。大多数投资者都忽略了这一点，只是迷恋这一旅程。他们在玩“傻瓜策略”——等待一个更大的傻瓜从他们那里购买他们被高估的股票。为什么不呢，更大的傻瓜多年来一直成群结队地出现。低利率抬高了所有资产的价格，迫使每个人承担越来越大的风险。</blockquote></p><p> Then there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).</p><p><blockquote>然后是纯粹的贪婪。这个市场泡沫充斥着这种“快速致富”的心态和对错失良机的恐惧；所有的泡泡都是。这一次，社交媒体进一步扭曲了市场，它似乎是这种行为的巨大放大器，可以说是延长了这种行为，带来了似乎无穷无尽的增量买家（更大的傻瓜）。</blockquote></p><p> <b>Market timer’s gambit</b></p><p><blockquote><b>市场计时器的策略</b></blockquote></p><p> Rational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.&nbsp; They may play&nbsp;“Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.</p><p><blockquote>不沉溺于贪婪的理性人士，不介意慢慢致富，他们可能想完全避开这个市场。他们可能会玩“市场计时器的策略”。他们的论点（表面上）是合乎逻辑的。事情是这样的：“我现在打算保持观望，等市场下跌后再入场”。</blockquote></p><p> There are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.</p><p><blockquote>这种策略有两个问题。第一，市场非理性可以持续很长时间。第二，虽然理论上听起来不错，但实际执行起来很难。</blockquote></p><p> Here is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.</p><p><blockquote>这里有一个例子：假设您100%持有现金，等待市场调整。你等了很长时间，然后市场下跌了10%。你觉得自己稍微被证明是正确的，但市场实际上刚刚稳定在几个月前的水平。你要做一个决定：进去还是等？你当然是谨慎的，市场在下跌，所以你决定等待。</blockquote></p><p> The market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.</p><p><blockquote>市场又下跌了10%。你觉得自己被证明是正确的。现在你觉得你的耐心和过去几年你错过的回报得到了回报。但你的直觉会告诉你，如果市场下跌20%，它可能会跌得更低。你等着。</blockquote></p><p> You were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.</p><p><blockquote>你是对的。市场又下跌了10%。经济新闻很难看。市场下跌可能会使经济陷入衰退。或者经济已经陷入衰退。现在你担心了。你决定等待。</blockquote></p><p> The market declines&nbsp;another&nbsp;10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.</p><p><blockquote>市场又下跌了10%。这笔现金现在感觉太贵了，你不想放弃它。你觉得你已经想通了。你告诉自己，当消息好转时，你会投资。</blockquote></p><p> The news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.&nbsp; Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.</p><p><blockquote>消息并没有好转。但是奇怪的事情发生了。市场有几天表现强劲。评论员看涨期权他们是“死猫反弹”，预计会进一步下跌。这几天强势之后还有几天。突然市场回撤了最后20%的跌幅。你为两周前（在现在“明显”的底部）没有投资而感到难过。</blockquote></p><p> You get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.</p><p><blockquote>你明白了。一旦你完全退出市场，从心理上来说很难再重新投入市场。我遇到过不少人，他们自2000年以来一直远离市场，仍在等待进入市场的机会。想象一下他们经历的心理过山车和他们留在桌面上的回报。</blockquote></p><p> Even if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.</p><p><blockquote>即使你一次抓住了市场时机，也不可能将其放入一个可重复的过程中。除了把握好经济的时机之外，你还必须把握好股市对经济反应的时机。我认识很多成功把握市场时机的人；我不知道有谁做过两次。</blockquote></p><p> <b>One stock at a time</b></p><p><blockquote><b>一次一只股票</b></blockquote></p><p> Investing in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available:&nbsp;“One Stock at a Time.”</p><p><blockquote>投资股市不需要停留在傻瓜策略或市场计时器策略的极端。还有一种不同的游戏：“一次一只股票。”</blockquote></p><p> Even in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).</p><p><blockquote>即使在这个估值疯狂高估的市场中，也不是所有的股票都被高估了，都在寻找更大的傻瓜。凭借耐心、长期的时间视野和我们久经考验的价值投资流程，寻找由优秀管理层运营、被严重低估（即具有安全边际）的高质量公司。</blockquote></p><p> This process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.</p><p><blockquote>这个过程并不快速，也不会让你快速致富。它需要平凡的工作和翻转大量的岩石。在我们公司，我们阅读公司财务文件，与管理层、竞争对手交谈，建立我们自己的财务模型，在我们自己之间以及与我们的全球投资者网络讨论这些投资。</blockquote></p><p> Investors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.</p><p><blockquote>投资者可以从全球数万只股票中进行选择。在我们公司，我们只需要20到30个。当我们找不到足够多的符合我们严格投资标准的股票时，我们的现金余额会上升，然后随着我们找到新股票而下降。我们不把握市场时机；我们对个股进行估值，便宜时买入，贵时卖出。</blockquote></p><p></p><p> To sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. But&nbsp;we don’t own the market; instead we have assembled a portfolio of companies priced attractively at 30- to 60-cents on the dollar —&nbsp;one stock at a time.</p><p><blockquote>总而言之：今天的美国股市是一张接近2美元或更多的美元钞票。许多股票以1美元易手为4美元、6美元、20美元。但是我们不拥有市场；相反，我们组建了一个公司投资组合，其定价极具吸引力，每美元价格为30至60美分——一次一只股票。</blockquote></p><p></p>","source":"lsy1603348471595","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>Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners<blockquote>并非所有股票都存在泡沫。以下是如何找到今天的便宜货和明天的赢家</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\">\nNot every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners<blockquote>并非所有股票都存在泡沫。以下是如何找到今天的便宜货和明天的赢家</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-08-27 15:09</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Look for high-quality companies, one stock at a time</p><p><blockquote>寻找优质公司，一次一只股票</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/92d5fb452d9db7f672a2a9eec51862eb\" tg-width=\"700\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p><p><blockquote><p class=\"t-img-caption\"><span>法新社/盖蒂图片社</span></p></blockquote></p><p> The stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing&nbsp;“Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.</p><p><blockquote>股市处于泡沫之中；这不是什么秘密。大多数投资者都忽略了这一点，只是迷恋这一旅程。他们在玩“傻瓜策略”——等待一个更大的傻瓜从他们那里购买他们被高估的股票。为什么不呢，更大的傻瓜多年来一直成群结队地出现。低利率抬高了所有资产的价格，迫使每个人承担越来越大的风险。</blockquote></p><p> Then there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).</p><p><blockquote>然后是纯粹的贪婪。这个市场泡沫充斥着这种“快速致富”的心态和对错失良机的恐惧；所有的泡泡都是。这一次，社交媒体进一步扭曲了市场，它似乎是这种行为的巨大放大器，可以说是延长了这种行为，带来了似乎无穷无尽的增量买家（更大的傻瓜）。</blockquote></p><p> <b>Market timer’s gambit</b></p><p><blockquote><b>市场计时器的策略</b></blockquote></p><p> Rational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.&nbsp; They may play&nbsp;“Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.</p><p><blockquote>不沉溺于贪婪的理性人士，不介意慢慢致富，他们可能想完全避开这个市场。他们可能会玩“市场计时器的策略”。他们的论点（表面上）是合乎逻辑的。事情是这样的：“我现在打算保持观望，等市场下跌后再入场”。</blockquote></p><p> There are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.</p><p><blockquote>这种策略有两个问题。第一，市场非理性可以持续很长时间。第二，虽然理论上听起来不错，但实际执行起来很难。</blockquote></p><p> Here is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.</p><p><blockquote>这里有一个例子：假设您100%持有现金，等待市场调整。你等了很长时间，然后市场下跌了10%。你觉得自己稍微被证明是正确的，但市场实际上刚刚稳定在几个月前的水平。你要做一个决定：进去还是等？你当然是谨慎的，市场在下跌，所以你决定等待。</blockquote></p><p> The market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.</p><p><blockquote>市场又下跌了10%。你觉得自己被证明是正确的。现在你觉得你的耐心和过去几年你错过的回报得到了回报。但你的直觉会告诉你，如果市场下跌20%，它可能会跌得更低。你等着。</blockquote></p><p> You were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.</p><p><blockquote>你是对的。市场又下跌了10%。经济新闻很难看。市场下跌可能会使经济陷入衰退。或者经济已经陷入衰退。现在你担心了。你决定等待。</blockquote></p><p> The market declines&nbsp;another&nbsp;10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.</p><p><blockquote>市场又下跌了10%。这笔现金现在感觉太贵了，你不想放弃它。你觉得你已经想通了。你告诉自己，当消息好转时，你会投资。</blockquote></p><p> The news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.&nbsp; Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.</p><p><blockquote>消息并没有好转。但是奇怪的事情发生了。市场有几天表现强劲。评论员看涨期权他们是“死猫反弹”，预计会进一步下跌。这几天强势之后还有几天。突然市场回撤了最后20%的跌幅。你为两周前（在现在“明显”的底部）没有投资而感到难过。</blockquote></p><p> You get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.</p><p><blockquote>你明白了。一旦你完全退出市场，从心理上来说很难再重新投入市场。我遇到过不少人，他们自2000年以来一直远离市场，仍在等待进入市场的机会。想象一下他们经历的心理过山车和他们留在桌面上的回报。</blockquote></p><p> Even if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.</p><p><blockquote>即使你一次抓住了市场时机，也不可能将其放入一个可重复的过程中。除了把握好经济的时机之外，你还必须把握好股市对经济反应的时机。我认识很多成功把握市场时机的人；我不知道有谁做过两次。</blockquote></p><p> <b>One stock at a time</b></p><p><blockquote><b>一次一只股票</b></blockquote></p><p> Investing in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available:&nbsp;“One Stock at a Time.”</p><p><blockquote>投资股市不需要停留在傻瓜策略或市场计时器策略的极端。还有一种不同的游戏：“一次一只股票。”</blockquote></p><p> Even in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).</p><p><blockquote>即使在这个估值疯狂高估的市场中，也不是所有的股票都被高估了，都在寻找更大的傻瓜。凭借耐心、长期的时间视野和我们久经考验的价值投资流程，寻找由优秀管理层运营、被严重低估（即具有安全边际）的高质量公司。</blockquote></p><p> This process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.</p><p><blockquote>这个过程并不快速，也不会让你快速致富。它需要平凡的工作和翻转大量的岩石。在我们公司，我们阅读公司财务文件，与管理层、竞争对手交谈，建立我们自己的财务模型，在我们自己之间以及与我们的全球投资者网络讨论这些投资。</blockquote></p><p> Investors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.</p><p><blockquote>投资者可以从全球数万只股票中进行选择。在我们公司，我们只需要20到30个。当我们找不到足够多的符合我们严格投资标准的股票时，我们的现金余额会上升，然后随着我们找到新股票而下降。我们不把握市场时机；我们对个股进行估值，便宜时买入，贵时卖出。</blockquote></p><p></p><p> To sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. But&nbsp;we don’t own the market; instead we have assembled a portfolio of companies priced attractively at 30- to 60-cents on the dollar —&nbsp;one stock at a time.</p><p><blockquote>总而言之：今天的美国股市是一张接近2美元或更多的美元钞票。许多股票以1美元易手为4美元、6美元、20美元。但是我们不拥有市场；相反，我们组建了一个公司投资组合，其定价极具吸引力，每美元价格为30至60美分——一次一只股票。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/story/not-every-stock-is-in-a-bubble-heres-how-to-find-todays-bargains-and-tomorrows-winners-11630016489?mod=home-page\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/not-every-stock-is-in-a-bubble-heres-how-to-find-todays-bargains-and-tomorrows-winners-11630016489?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149850459","content_text":"Look for high-quality companies, one stock at a time\nAGENCE FRANCE-PRESSE/GETTY IMAGES\nThe stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing “Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.\nThen there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).\nMarket timer’s gambit\nRational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.  They may play “Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.\nThere are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.\nHere is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.\nThe market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.\nYou were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.\nThe market declines another 10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.\nThe news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.  Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.\nYou get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.\nEven if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.\nOne stock at a time\nInvesting in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available: “One Stock at a Time.”\nEven in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).\nThis process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.\nInvestors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.\nTo sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. But we don’t own the market; instead we have assembled a portfolio of companies priced attractively at 30- to 60-cents on the dollar — one stock at a time.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":1634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127717116,"gmtCreate":1624868997735,"gmtModify":1631891300352,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"More weakness so tt can enter&nbsp;","listText":"More weakness so tt can enter&nbsp;","text":"More weakness so tt can enter","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/127717116","repostId":"1163132894","repostType":4,"repost":{"id":"1163132894","kind":"news","pubTimestamp":1624863227,"share":"https://www.laohu8.com/m/news/1163132894?lang=zh_CN&edition=full","pubTime":"2021-06-28 14:53","market":"us","language":"en","title":"Tesla: Recent Weakness Is An Opportunity<blockquote>特斯拉：近期的疲软是一个机会</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1163132894","media":"seekingalpha","summary":"Summary\n\nTesla has been declining during the recent months, creating opportunities for patient inves","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Tesla has been declining during the recent months, creating opportunities for patient investors.</li>  <li>Rising competition and profit concerns are not a problem for Tesla due to its key advantages.</li>  <li>Tesla's unique ecosystem and the size of the market will allow Tesla to continue its growth despite rising competition.</li>  <li>Although risks remain, I believe that Tesla is a long-term buy because the company is still in its growth phases.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/707bb99dcaa93d75f576a78ef1ecd11c\" tg-width=\"768\" tg-height=\"512\" referrerpolicy=\"no-referrer\"><span>jetcityimage/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>近几个月来，特斯拉一直在下跌，为耐心的投资者创造了机会。</li><li>由于特斯拉的关键优势，竞争加剧和利润担忧对其来说不是问题。</li><li>特斯拉独特的生态系统和市场规模将使特斯拉在竞争加剧的情况下继续增长。</li><li>尽管风险依然存在，但我相信特斯拉是长期买入的股票，因为该公司仍处于增长阶段。</li></ul><p class=\"t-img-caption\"><span>jetcityimage/iStock社论来自Getty Images</span></p></blockquote></p><p> <b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p> Over the past few months, Tesla stock has been struggling to move upwards. This could be seen as normal since the stock saw a massive bull run in 2020 and some noticeable risks started arising. One of these risks was inflationary pressure leading to investors speculating that the FED will taper and raise rates earlier than expected. This fear caused the overall tech and growth sector to decline. However, the inflationary fears dragging the tech and growth sector have been weakening over the past few months. Although the actual inflation seen in the CPI data worsened year-over-year, investors are reacting less negatively to the news, lessening the pressure on overall tech and growth stocks. Also, the 10-year treasury yield is declining finally setting up a potential for a rotation back into tech and growth. Thus, as the overall market is turning favorable for tech and growth stocks, I would like to discuss one of the most famous growth stocks, Tesla (NASDAQ:TSLA).</p><p><blockquote>过去几个月，特斯拉股价一直在努力上涨。这可以被视为正常，因为该股在2020年经历了大规模牛市，一些明显的风险开始出现。其中一个风险是通胀压力，导致投资者猜测美联储将比预期更早缩减和加息。这种担忧导致整个科技和增长行业下滑。然而，过去几个月，拖累科技和增长行业的通胀担忧一直在减弱。尽管CPI数据中的实际通胀同比恶化，但投资者对这一消息的负面反应较少，减轻了整体科技股和成长股的压力。此外，10年期国债收益率正在下降，最终为回归科技和增长领域奠定了基础。因此，随着整体市场转向有利于科技股和成长股，我想讨论一下最著名的成长股之一，特斯拉（纳斯达克：TSLA）。</blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Tesla recently has been under attack as investors started questioning valuations and competitive risks. Some bearish arguments pointed out that the competition was intensifying in the BEV (battery electric vehicle) industry, and that Tesla is still unprofitable without selling Bitcoin (BTC-USD) and carbon emissions credit. While I agree that these risks are legitimate and should be considered, I believe that these risks are insignificant to Tesla’s future opportunities. In fact, I think this short-term turmoil is only causing buying opportunities. Here’s why:</p><p><blockquote>随着投资者开始质疑估值和竞争风险，特斯拉最近受到了攻击。一些看跌观点指出，BEV（电池电动汽车）行业的竞争正在加剧，如果不出售比特币（BTC-USD）和碳排放额度，特斯拉仍然无法盈利。虽然我同意这些风险是合理的，应该考虑，但我认为这些风险对特斯拉未来的机会来说微不足道。事实上，我认为这种短期动荡只是造成了买入机会。原因如下：</blockquote></p><p> <ol>  <li>Tesla is creating its own ecosystem that no other automakers can replicate.</p><p><blockquote><ol><li>特斯拉正在创建自己的生态系统，这是其他汽车制造商无法复制的。</li></ol></blockquote></p><p></li>  <li>In the age where data is the new oil, Tesla is the only automaker utilizing the valuable data.</p><p><blockquote><li>在数据就是新石油的时代，特斯拉是唯一一家利用宝贵数据的汽车制造商。</li></blockquote></p><p></li> </ol> <b>Bears Say: Tesla Is Still Unprofitable</b></p><p><blockquote><b>看空者称：特斯拉仍未盈利</b></blockquote></p><p> By now, it is well known that Tesla’s profitability does not come from selling cars. Tesla, despite improvements over the years, still relies heavily on regulatory credits to generate income. I believe that this does not pose any problem. Tesla simply does not need to make money today; this may continue to be a threat in the short term, but I think the current profitability structure is fine from a long-term investor perspective. Tesla has been treading along the profitability breakeven point; I think Tesla is leveraging its ability to generate cash from selling regulatory credits to invest back into its growth. The BEV market is just getting started and as bears have pointed out, the competition is starting to roll in; thus, there is no reason for Tesla to sacrifice growth for profits today.</p><p><blockquote>到目前为止，众所周知，特斯拉的盈利能力并不来自于销售汽车。尽管多年来有所改善，但特斯拉仍然严重依赖监管信贷来创收。我相信这不会造成任何问题。特斯拉今天根本不需要赚钱；这在短期内可能会继续构成威胁，但我认为从长期投资者的角度来看，目前的盈利结构是好的。特斯拉一直在盈利盈亏平衡点上徘徊；我认为特斯拉正在利用其通过出售监管信贷产生现金的能力来重新投资于其增长。纯电动汽车市场才刚刚起步，正如看空者指出的那样，竞争已经开始滚滚而来；因此，特斯拉今天没有理由为了利润而牺牲增长。</blockquote></p><p> An example of Tesla focusing on growth instead of profits is Tesla’s commitment to making a&nbsp;25,000$ vehicle.This cheap vehicle will not be good for Tesla’s margins or net income; however, the vehicle will further strengthen Tesla’s ecosystem, which will be discussed later, and expand the overall BEV market. As the overall BEV market expands, the volume will soon follow, allowing Tesla to be more efficient with scale as the most expensive component in the vehicle, lithium-ion battery price decreases over time. Tesla’s strategy has been clear since the beginning: focus on growth. Nothing has changed but investors' expectations; profits will naturally follow as the market matures. Now is simply not the time to focus on profits.</p><p><blockquote>特斯拉关注增长而不是利润的一个例子是特斯拉承诺制造一辆25,000美元的汽车。这种廉价汽车对特斯拉的利润率或净利润没有好处；然而，该车将进一步加强特斯拉的生态系统（稍后将讨论），并扩大整体BEV市场。随着整个纯电动汽车市场的扩大，销量很快就会随之而来，使特斯拉能够通过规模化提高效率作为车辆中最昂贵的部件，锂离子电池的价格会随着时间的推移而下降。特斯拉的战略从一开始就很明确：专注于增长。除了投资者的预期，什么都没有改变；随着市场的成熟，利润自然会随之而来。现在根本不是关注利润的时候。</blockquote></p><p> Bloomberg: Quoting GM CEO Mary</p><p><blockquote>彭博社：引用通用汽车首席执行官玛丽</blockquote></p><p>   EV margins will match what they are today for combustion-engine cars by the “mid or later part of the decade.”  Furthermore, as the quote shows, EV profitability is not only Tesla’s problem. No automaker is making significant positive net income selling BEV vehicles today. Thus, Tesla's focus on growth and the economies of scale should not be criticized.</p><p><blockquote>到“本世纪中期或后期”，电动汽车的利润率将与目前内燃机汽车的利润率相当。此外，正如报价所示，电动汽车盈利能力不仅仅是特斯拉的问题。如今，没有一家汽车制造商通过销售纯电动汽车获得显着的正净利润。因此，特斯拉对增长和规模经济的关注不应受到批评。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/27aa28f3efd41460dca185274ea936eb\" tg-width=\"580\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As the picture above shows, Lithium-ion battery pack costs are continuing to decrease significantly, and as this trend accelerates, Tesla’s margin will naturally go up. Thus, Tesla’s best interest is still in growth and expansion rather than achieving limited profitability today.</p><p><blockquote>如上图所示，锂离子电池组成本正在持续大幅降低，而随着这一趋势的加速，特斯拉的利润率自然也就上去了。因此，特斯拉的最大利益仍然是增长和扩张，而不是今天实现有限的盈利。</blockquote></p><p> <b>Unique Ecosystem</b></p><p><blockquote><b>独特的生态系统</b></blockquote></p><p></p><p> Moving on to my bullish argument, Tesla has a unique ecosystem that can not be replicated by any other legacy automobile manufacturers. To know the importance of an ecosystem, we need to look at Apple(NASDAQ:AAPL). What makes Apple so different? Samsung (OTC:SSNLF)&nbsp;sells more phones than Apple, yet Apple makes more money, by far. Furthermore, iPhone does not have the highest specs. iPhones do not have the best camera (in terms of megapixels), biggest RAM, biggest storage, or best screen refresh rate. Then, why is Apple making so much money and why can't other manufacturers with similar technology replicate Apple’s success? The answer to this question, in my opinion, is that Apple has an ecosystem that can not be replicated by Samsung or any other phone maker. Consumers love Apple’s ecosystem that offers every service in a simple, immersive, and frictionless manner. Once a consumer enters this ecosystem, it is almost impossible to leave. Apple makes its own chips, operating system, music services, tablets, laptops, app stores, and many more services locking in loyal customers and selling products at higher margins. Then, what is Tesla’s ecosystem? It is still in the early stages, but Tesla is the only automaker that operates its own charging station allowing consumers to experience the frictionless ecosystem or connectivity. Tesla cars preheat the battery and get the battery ready for supercharging while the car locates the chargers and leads the driver to the superchargers. The ecosystem does not stop here, Tesla, like Apple, designs its own chips, own operating system, and autonomous driving technology, which creates an immersive and frictionless ecosystem like Apple. The software and charging experience is unmatched, and it is only getting better with the eventual rise of autonomous technology and rumored&nbsp;Tesla restaurants.</p><p><blockquote>继续我的看涨论点，特斯拉拥有独特的生态系统，任何其他传统汽车制造商都无法复制。要了解生态系统的重要性，我们需要看看苹果（纳斯达克：AAPL）。是什么让苹果如此不同？到目前为止，三星（场外交易代码：SSNLF）的手机销量比苹果多，但苹果赚的钱更多。此外，iPhone没有最高的规格。iPhones没有最好的摄像头（就百万像素而言）、最大的内存、最大的存储空间或最好的屏幕刷新率。那么，为什么苹果赚了这么多钱，为什么其他拥有类似技术的厂商无法复制苹果的成功呢？在我看来，这个问题的答案是，苹果拥有三星或任何其他手机制造商都无法复制的生态系统。消费者喜欢苹果的生态系统，它以简单、身临其境和无摩擦的方式提供每一项服务。消费者一旦进入这个生态系统，几乎不可能离开。苹果生产自己的芯片、操作系统、音乐服务、平板电脑、笔记本电脑、应用商店以及更多锁定忠诚客户并以更高利润销售产品的服务。那么，特斯拉的生态系统是什么？目前仍处于早期阶段，但特斯拉是唯一一家运营自己的充电站的汽车制造商，让消费者体验无摩擦的生态系统或连接。特斯拉汽车预热电池并为超级充电做好准备，同时汽车找到充电器并引导驾驶员前往超级充电站。生态系统并不止于此，特斯拉和苹果一样，设计自己的芯片、自己的操作系统和自动驾驶技术，这就像苹果一样创造了一个沉浸式、无摩擦的生态系统。软件和充电体验是无与伦比的，随着自动驾驶技术和传闻中的特斯拉餐厅的最终崛起，这种体验只会变得更好。</blockquote></p><p> This ecosystem will not only make Tesla unique, but it will also prevent consumers from moving over to its competitors because for consumers, it's all about modernized simplistic design with a frictionless experience that feels luxurious. I can't imagine any other automaker that can replicate Tesla’s brand and ecosystem. No automaker today is even close to providing its own superchargers, autonomous driving technologies, and unique software. Plus, no legacy automakers are or can sell FSD software for additional ten thousand dollars. The brand power, in my opinion, is strong enough to minimize the threat from the competition.</p><p><blockquote>这个生态系统不仅会使特斯拉独一无二，还会防止消费者转向其竞争对手，因为对于消费者来说，这一切都是关于现代化的简单设计和无摩擦的奢华体验。我无法想象任何其他汽车制造商能够复制特斯拉的品牌和生态系统。如今，没有一家汽车制造商能够提供自己的超级充电站、自动驾驶技术和独特的软件。此外，没有一家传统汽车制造商愿意或能够以额外一万美元的价格出售FSD软件。在我看来，品牌力量足够强大，可以将竞争的威胁降至最低。</blockquote></p><p> Thus, I believe investors do not need to worry too much about net income as long as the operational efficiencies do not get significantly worse. Tesla, in my opinion, is creating an ecosystem that will generate significant profitability through higher margins and more loyal customers in the future. Tesla is simply in its growth phases.</p><p><blockquote>因此，我认为只要运营效率没有明显恶化，投资者就不需要太担心净利润。在我看来，特斯拉正在创建一个生态系统，未来将通过更高的利润率和更忠诚的客户来产生可观的盈利能力。特斯拉正处于成长阶段。</blockquote></p><p> <b>Rising Competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Rising competition is a serious threat despite Tesla's unique ecosystem. I think it is true that the legacy automakers are posing some risks to Tesla; however, I believe that the risk is not great enough to hinder Tesla’s growth. I do agree that more prominent competitors like Volkswagen (OTCPK:VWAGY) do pose an immense threat, but I do not see this as the end of Tesla. In fact, I think both companies will thrive at the end of the day.</p><p><blockquote>尽管特斯拉拥有独特的生态系统，但日益加剧的竞争仍是一个严重威胁。我认为传统汽车制造商确实给特斯拉带来了一些风险；不过，我相信风险还没有大到阻碍特斯拉增长的程度。我确实同意大众汽车（OTCPK：VWAGY）等更突出的竞争对手确实构成了巨大的威胁，但我并不认为这是特斯拉的终结。事实上，我认为两家公司最终都会蓬勃发展。</blockquote></p><p> I will not go into details on why I believe that both Volkswagen and Tesla will succeed in the BEV market today because I will be focusing on why I think Tesla’s growth will not be affected by Volkswagen.</p><p><blockquote>我不会详细说明为什么我相信大众和特斯拉今天都会在纯电动汽车市场取得成功，因为我将重点关注为什么我认为特斯拉的增长不会受到大众的影响。</blockquote></p><p> First,the sheer size of the electric vehicle market&nbsp;is big enough to support multiple major players. In the age of ICE vehicles, Volkswagen was not the only major company. Similarly, I believe that the size of the EV market will support both Tesla, Volkswagen, and a few more companies. By 2025, the EV sales in the U.S. alone are expected to reach 6.9 million, far above 500,000 Tesla vehicle sales in 2020.</p><p><blockquote>首先，电动汽车市场的庞大规模足以支持多个主要参与者。在ICE汽车时代，大众并不是唯一的大公司。同样，我相信电动汽车市场的规模将支持特斯拉、大众和其他一些公司。到2025年，仅美国的电动汽车销量预计就将达到690万辆，远高于2020年50万辆的特斯拉汽车销量。</blockquote></p><p> Second, I believe Tesla has unique advantages like selling its FSD software for 10,000 dollars. We all know that selling EVs is not profitable yet, which makes Tesla selling its software extremely important. The Tesla brand is strong enough to sell an FSD software for 10,000 dollars. I believe that this advantage can not easily be implemented by other companies because it is the result of brand power and loyalty that comes from its ecosystem. By selling its software, Tesla can decrease the price of its vehicles, like in Japan and South Korea, while maintaining some levels of margin for growth Detering some threats from the competition.</p><p><blockquote>第二，我相信特斯拉有独特的优势，比如以10,000美元的价格出售其FSD软件。我们都知道销售电动汽车还没有盈利，这使得特斯拉销售其软件变得极其重要。特斯拉品牌强大到可以卖1万美元一个FSD软件。我相信这种优势不容易被其他公司实现，因为这是来自其生态系统的品牌力量和忠诚度的结果。通过出售其软件，特斯拉可以降低其汽车的价格，就像在日韩一样，同时保持一定水平的增长空间，阻止来自竞争的一些威胁。</blockquote></p><p> <b>Data Advantage</b></p><p><blockquote><b>数据优势</b></blockquote></p><p></p><p> Data, without any doubt, is becoming the new oil, getting more valuable by the seconds. The company that can correctly control and utilize data will be the winner going forward, and the very company utilizing massive amounts of user data is Tesla. Unlike any other autonomous driving technology developers, users pay Tesla to provide the company with the necessary data to improve the autonomous driving system. Google’s (NASDAQ:GOOG) Waymo uses specialized cars in heavily mapped areas to operate regional taxi networks, which costs money. However, Tesla’s customer, upon purchasing the vehicle, provides Tesla with valuable data for the company to process turning it into an autonomous vehicle technology. Also, the volume of the data Tesla can collect from its customers is simply unmatched. I think the advantage over the long term is obvious because the amount of data Tesla accumulates and utilizes will continue to far outpace any of its competitors potentially allowing Tesla to become one of the first companies to fully launch level 4 or above FSD.</p><p><blockquote>毫无疑问，数据正在成为新的石油，越来越有价值。能够正确控制和利用数据的公司将是未来的赢家，而利用海量用户数据的公司就是特斯拉。与其他任何自动驾驶技术开发商不同，用户向特斯拉付费，为该公司提供完善自动驾驶系统所需的数据。谷歌（纳斯达克股票代码：GOOG）的Waymo在地图密集的地区使用专门的汽车来运营区域出租车网络，这需要花钱。然而，特斯拉的客户在购买车辆后，向特斯拉提供了有价值的数据，供该公司处理将其转化为自动驾驶汽车技术。此外，特斯拉可以从客户那里收集的数据量是无与伦比的。我认为长期优势是显而易见的，因为特斯拉积累和利用的数据量将继续远远超过任何竞争对手，这可能使特斯拉成为首批全面推出4级或以上FSD的公司之一。</blockquote></p><p> <b>Risk</b></p><p><blockquote><b>风险</b></blockquote></p><p> I think the most obvious risk to my investment thesis is bias. Although I do not own any Tesla shares today, I have a very positive view of this company and plan to purchase shares in the coming weeks as I reallocate a portion of my portfolio to growth and tech stocks; thus, I may have introduced significant bias in my article by downplaying the competitive risk that Tesla faces. Also, because of my bias, I may have overstated the brand power that Tesla has.</p><p><blockquote>我认为我的投资论文最明显的风险是偏见。尽管我目前没有持有任何特斯拉股票，但我对这家公司持非常积极的看法，并计划在未来几周内购买股票，因为我将部分投资组合重新分配到成长型和科技股；因此，我可能在文章中淡化了特斯拉面临的竞争风险，从而引入了重大偏见。另外，由于我的偏见，我可能夸大了特斯拉的品牌影响力。</blockquote></p><p> Other than my bias, I believe political risk concerning China is one of Tesla's greatest threats. Political tensions between the countries led by the United States and China, are growing. During the past weekend,the G7 meeting further solidified this tension&nbsp;as the group of 7 nations targeted China’s human rights and coronavirus problems. The politics may change consumer sentiment in China or lead to Chinese government risk. For example, the&nbsp;Chinese government accused Tesla of spying on China using its cameras.It is clear that tensions are worsening and geopolitical threats will not be easing any time soon causing immense risk to Tesla.</p><p><blockquote>除了我的偏见，我认为涉华政治风险是特斯拉最大的威胁之一。以美国和中国为首的国家之间的政治紧张局势正在加剧。在过去的周末，七国集团会议进一步巩固了这种紧张局势，因为七国集团将目标对准了中国的人权和冠状病毒问题。政治可能会改变中国的消费者情绪或导致中国政府风险。例如，中国政府指责特斯拉利用其摄像头对中国进行间谍活动。很明显，紧张局势正在恶化，地缘政治威胁不会很快缓解，给特斯拉带来巨大风险。</blockquote></p><p> <b>Valuation and Financials</b></p><p><blockquote><b>估值和财务</b></blockquote></p><p> Multiple bearish arguments target that Tesla has an extremely high valuation at about 130 times the forward price to earnings. I believe that one must pay high prices for high-growth companies. Tesla is expected to grow its delivery volume by about 50% in 2021. I believe that his goal is achievable because Tesla is still selling less than 1 million vehicles a year, which is very small compared to competitors in the automobile industry. Also, the completion of Gigafactory Berlin and Austin later this year will contribute to the growth forecast. Finally, investors must take into account that Tesla is in its growth phases not growing profitability. As building EVs becomes profitable and Tesla enjoys the extra margin from its FSD software sale, profits have the potential to exponentially rise. Thus, I believe that the current argument on high valuation is not a huge concern. Investors need to look at Tesla as a high-growth company in its early stages.</p><p><blockquote>多个看跌论点的目标是特斯拉的估值极高，约为预期市盈率的130倍。我认为，高增长的公司必须付出高昂的代价。特斯拉预计2021年交付量将增长约50%。我相信他的目标是可以实现的，因为特斯拉一年的销量还不到100万辆，与汽车行业的竞争对手相比是非常小的。此外，今年晚些时候柏林和奥斯汀超级工厂的竣工将有助于增长预测。最后，投资者必须考虑到特斯拉正处于增长阶段，而不是盈利能力的增长。随着制造电动汽车变得有利可图，并且特斯拉从其FSD软件销售中获得额外利润，利润有可能呈指数级增长。因此，我认为目前关于高估值的争论并不是一个大问题。投资者需要将特斯拉视为一家处于早期阶段的高增长公司。</blockquote></p><p> Tesla's financials&nbsp;are fairly good suggesting that risks regarding financial health are limited. The company had about 17 billion dollars in cash and equivalents, which accounted for about 2.8% of the market cap. Tesla had a total asset of about 53 billion dollars and a total liability of about 28.5 billion dollars equating to a shareholder equity value of about 23 billion dollars and a liability to asset ratio (L/A) of about 53.7. The overall balance sheet poses no threat, and the immense cash pile is enough to support Tesla's growth; thus, I believe that Tesla's financials do not pose any threat to the company's future.</p><p><blockquote>特斯拉的财务状况相当良好，表明财务健康风险有限。该公司拥有约170亿美元现金及等价物，约占市值的2.8%。特斯拉的总资产约为530亿美元，总负债约为285亿美元，相当于股东权益价值约为230亿美元，资产负债率（L/A）约为53.7。整体资产负债表不构成威胁，庞大的现金储备足以支持特斯拉的增长；因此，我认为特斯拉的财务状况不会对公司的未来构成任何威胁。</blockquote></p><p> <b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> I believe that recent consolidation and weakness in Tesla is creating opportunities for long-term investors. Tesla is indeed unprofitable without regulatory credits and that competition is starting to heat up in the market. However, because Tesla is and was a growth company from the beginning, I believe that the profit levels today are acceptable. The company is simply choosing future growth over today's profits. Also, along with an EV market that can support multiple players, Tesla's unique ecosystem, brand loyalty, and data utilization will shield the company from experience any slow down. Rising competition is natural and should not be feared. Finally, the valuation and risk regarding China may be a concern; however, I believe, for reasons that I have discussed, Tesla is a buy today.</p><p><blockquote>我相信特斯拉最近的盘整和疲软正在为长期投资者创造机会。如果没有监管信用，特斯拉确实无法盈利，而且市场竞争开始升温。然而，由于特斯拉从一开始就是一家成长型公司，我相信今天的利润水平是可以接受的。该公司只是选择未来的增长而不是今天的利润。此外，除了可以支持多个参与者的电动汽车市场之外，特斯拉独特的生态系统、品牌忠诚度和数据利用率将使该公司免受任何放缓的影响。竞争加剧是自然的，不应该害怕。最后，中国的估值和风险可能令人担忧；然而，我相信，出于我已经讨论过的原因，特斯拉今天值得买入。</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>Tesla: Recent Weakness Is An Opportunity<blockquote>特斯拉：近期的疲软是一个机会</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\">\nTesla: Recent Weakness Is An Opportunity<blockquote>特斯拉：近期的疲软是一个机会</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-28 14:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Tesla has been declining during the recent months, creating opportunities for patient investors.</li>  <li>Rising competition and profit concerns are not a problem for Tesla due to its key advantages.</li>  <li>Tesla's unique ecosystem and the size of the market will allow Tesla to continue its growth despite rising competition.</li>  <li>Although risks remain, I believe that Tesla is a long-term buy because the company is still in its growth phases.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/707bb99dcaa93d75f576a78ef1ecd11c\" tg-width=\"768\" tg-height=\"512\" referrerpolicy=\"no-referrer\"><span>jetcityimage/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>近几个月来，特斯拉一直在下跌，为耐心的投资者创造了机会。</li><li>由于特斯拉的关键优势，竞争加剧和利润担忧对其来说不是问题。</li><li>特斯拉独特的生态系统和市场规模将使特斯拉在竞争加剧的情况下继续增长。</li><li>尽管风险依然存在，但我相信特斯拉是长期买入的股票，因为该公司仍处于增长阶段。</li></ul><p class=\"t-img-caption\"><span>jetcityimage/iStock社论来自Getty Images</span></p></blockquote></p><p> <b>Introduction</b></p><p><blockquote><b>介绍</b></blockquote></p><p> Over the past few months, Tesla stock has been struggling to move upwards. This could be seen as normal since the stock saw a massive bull run in 2020 and some noticeable risks started arising. One of these risks was inflationary pressure leading to investors speculating that the FED will taper and raise rates earlier than expected. This fear caused the overall tech and growth sector to decline. However, the inflationary fears dragging the tech and growth sector have been weakening over the past few months. Although the actual inflation seen in the CPI data worsened year-over-year, investors are reacting less negatively to the news, lessening the pressure on overall tech and growth stocks. Also, the 10-year treasury yield is declining finally setting up a potential for a rotation back into tech and growth. Thus, as the overall market is turning favorable for tech and growth stocks, I would like to discuss one of the most famous growth stocks, Tesla (NASDAQ:TSLA).</p><p><blockquote>过去几个月，特斯拉股价一直在努力上涨。这可以被视为正常，因为该股在2020年经历了大规模牛市，一些明显的风险开始出现。其中一个风险是通胀压力，导致投资者猜测美联储将比预期更早缩减和加息。这种担忧导致整个科技和增长行业下滑。然而，过去几个月，拖累科技和增长行业的通胀担忧一直在减弱。尽管CPI数据中的实际通胀同比恶化，但投资者对这一消息的负面反应较少，减轻了整体科技股和成长股的压力。此外，10年期国债收益率正在下降，最终为回归科技和增长领域奠定了基础。因此，随着整体市场转向有利于科技股和成长股，我想讨论一下最著名的成长股之一，特斯拉（纳斯达克：TSLA）。</blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Tesla recently has been under attack as investors started questioning valuations and competitive risks. Some bearish arguments pointed out that the competition was intensifying in the BEV (battery electric vehicle) industry, and that Tesla is still unprofitable without selling Bitcoin (BTC-USD) and carbon emissions credit. While I agree that these risks are legitimate and should be considered, I believe that these risks are insignificant to Tesla’s future opportunities. In fact, I think this short-term turmoil is only causing buying opportunities. Here’s why:</p><p><blockquote>随着投资者开始质疑估值和竞争风险，特斯拉最近受到了攻击。一些看跌观点指出，BEV（电池电动汽车）行业的竞争正在加剧，如果不出售比特币（BTC-USD）和碳排放额度，特斯拉仍然无法盈利。虽然我同意这些风险是合理的，应该考虑，但我认为这些风险对特斯拉未来的机会来说微不足道。事实上，我认为这种短期动荡只是造成了买入机会。原因如下：</blockquote></p><p> <ol>  <li>Tesla is creating its own ecosystem that no other automakers can replicate.</p><p><blockquote><ol><li>特斯拉正在创建自己的生态系统，这是其他汽车制造商无法复制的。</li></ol></blockquote></p><p></li>  <li>In the age where data is the new oil, Tesla is the only automaker utilizing the valuable data.</p><p><blockquote><li>在数据就是新石油的时代，特斯拉是唯一一家利用宝贵数据的汽车制造商。</li></blockquote></p><p></li> </ol> <b>Bears Say: Tesla Is Still Unprofitable</b></p><p><blockquote><b>看空者称：特斯拉仍未盈利</b></blockquote></p><p> By now, it is well known that Tesla’s profitability does not come from selling cars. Tesla, despite improvements over the years, still relies heavily on regulatory credits to generate income. I believe that this does not pose any problem. Tesla simply does not need to make money today; this may continue to be a threat in the short term, but I think the current profitability structure is fine from a long-term investor perspective. Tesla has been treading along the profitability breakeven point; I think Tesla is leveraging its ability to generate cash from selling regulatory credits to invest back into its growth. The BEV market is just getting started and as bears have pointed out, the competition is starting to roll in; thus, there is no reason for Tesla to sacrifice growth for profits today.</p><p><blockquote>到目前为止，众所周知，特斯拉的盈利能力并不来自于销售汽车。尽管多年来有所改善，但特斯拉仍然严重依赖监管信贷来创收。我相信这不会造成任何问题。特斯拉今天根本不需要赚钱；这在短期内可能会继续构成威胁，但我认为从长期投资者的角度来看，目前的盈利结构是好的。特斯拉一直在盈利盈亏平衡点上徘徊；我认为特斯拉正在利用其通过出售监管信贷产生现金的能力来重新投资于其增长。纯电动汽车市场才刚刚起步，正如看空者指出的那样，竞争已经开始滚滚而来；因此，特斯拉今天没有理由为了利润而牺牲增长。</blockquote></p><p> An example of Tesla focusing on growth instead of profits is Tesla’s commitment to making a&nbsp;25,000$ vehicle.This cheap vehicle will not be good for Tesla’s margins or net income; however, the vehicle will further strengthen Tesla’s ecosystem, which will be discussed later, and expand the overall BEV market. As the overall BEV market expands, the volume will soon follow, allowing Tesla to be more efficient with scale as the most expensive component in the vehicle, lithium-ion battery price decreases over time. Tesla’s strategy has been clear since the beginning: focus on growth. Nothing has changed but investors' expectations; profits will naturally follow as the market matures. Now is simply not the time to focus on profits.</p><p><blockquote>特斯拉关注增长而不是利润的一个例子是特斯拉承诺制造一辆25,000美元的汽车。这种廉价汽车对特斯拉的利润率或净利润没有好处；然而，该车将进一步加强特斯拉的生态系统（稍后将讨论），并扩大整体BEV市场。随着整个纯电动汽车市场的扩大，销量很快就会随之而来，使特斯拉能够通过规模化提高效率作为车辆中最昂贵的部件，锂离子电池的价格会随着时间的推移而下降。特斯拉的战略从一开始就很明确：专注于增长。除了投资者的预期，什么都没有改变；随着市场的成熟，利润自然会随之而来。现在根本不是关注利润的时候。</blockquote></p><p> Bloomberg: Quoting GM CEO Mary</p><p><blockquote>彭博社：引用通用汽车首席执行官玛丽</blockquote></p><p>   EV margins will match what they are today for combustion-engine cars by the “mid or later part of the decade.”  Furthermore, as the quote shows, EV profitability is not only Tesla’s problem. No automaker is making significant positive net income selling BEV vehicles today. Thus, Tesla's focus on growth and the economies of scale should not be criticized.</p><p><blockquote>到“本世纪中期或后期”，电动汽车的利润率将与目前内燃机汽车的利润率相当。此外，正如报价所示，电动汽车盈利能力不仅仅是特斯拉的问题。如今，没有一家汽车制造商通过销售纯电动汽车获得显着的正净利润。因此，特斯拉对增长和规模经济的关注不应受到批评。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/27aa28f3efd41460dca185274ea936eb\" tg-width=\"580\" tg-height=\"499\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> As the picture above shows, Lithium-ion battery pack costs are continuing to decrease significantly, and as this trend accelerates, Tesla’s margin will naturally go up. Thus, Tesla’s best interest is still in growth and expansion rather than achieving limited profitability today.</p><p><blockquote>如上图所示，锂离子电池组成本正在持续大幅降低，而随着这一趋势的加速，特斯拉的利润率自然也就上去了。因此，特斯拉的最大利益仍然是增长和扩张，而不是今天实现有限的盈利。</blockquote></p><p> <b>Unique Ecosystem</b></p><p><blockquote><b>独特的生态系统</b></blockquote></p><p></p><p> Moving on to my bullish argument, Tesla has a unique ecosystem that can not be replicated by any other legacy automobile manufacturers. To know the importance of an ecosystem, we need to look at Apple(NASDAQ:AAPL). What makes Apple so different? Samsung (OTC:SSNLF)&nbsp;sells more phones than Apple, yet Apple makes more money, by far. Furthermore, iPhone does not have the highest specs. iPhones do not have the best camera (in terms of megapixels), biggest RAM, biggest storage, or best screen refresh rate. Then, why is Apple making so much money and why can't other manufacturers with similar technology replicate Apple’s success? The answer to this question, in my opinion, is that Apple has an ecosystem that can not be replicated by Samsung or any other phone maker. Consumers love Apple’s ecosystem that offers every service in a simple, immersive, and frictionless manner. Once a consumer enters this ecosystem, it is almost impossible to leave. Apple makes its own chips, operating system, music services, tablets, laptops, app stores, and many more services locking in loyal customers and selling products at higher margins. Then, what is Tesla’s ecosystem? It is still in the early stages, but Tesla is the only automaker that operates its own charging station allowing consumers to experience the frictionless ecosystem or connectivity. Tesla cars preheat the battery and get the battery ready for supercharging while the car locates the chargers and leads the driver to the superchargers. The ecosystem does not stop here, Tesla, like Apple, designs its own chips, own operating system, and autonomous driving technology, which creates an immersive and frictionless ecosystem like Apple. The software and charging experience is unmatched, and it is only getting better with the eventual rise of autonomous technology and rumored&nbsp;Tesla restaurants.</p><p><blockquote>继续我的看涨论点，特斯拉拥有独特的生态系统，任何其他传统汽车制造商都无法复制。要了解生态系统的重要性，我们需要看看苹果（纳斯达克：AAPL）。是什么让苹果如此不同？到目前为止，三星（场外交易代码：SSNLF）的手机销量比苹果多，但苹果赚的钱更多。此外，iPhone没有最高的规格。iPhones没有最好的摄像头（就百万像素而言）、最大的内存、最大的存储空间或最好的屏幕刷新率。那么，为什么苹果赚了这么多钱，为什么其他拥有类似技术的厂商无法复制苹果的成功呢？在我看来，这个问题的答案是，苹果拥有三星或任何其他手机制造商都无法复制的生态系统。消费者喜欢苹果的生态系统，它以简单、身临其境和无摩擦的方式提供每一项服务。消费者一旦进入这个生态系统，几乎不可能离开。苹果生产自己的芯片、操作系统、音乐服务、平板电脑、笔记本电脑、应用商店以及更多锁定忠诚客户并以更高利润销售产品的服务。那么，特斯拉的生态系统是什么？目前仍处于早期阶段，但特斯拉是唯一一家运营自己的充电站的汽车制造商，让消费者体验无摩擦的生态系统或连接。特斯拉汽车预热电池并为超级充电做好准备，同时汽车找到充电器并引导驾驶员前往超级充电站。生态系统并不止于此，特斯拉和苹果一样，设计自己的芯片、自己的操作系统和自动驾驶技术，这就像苹果一样创造了一个沉浸式、无摩擦的生态系统。软件和充电体验是无与伦比的，随着自动驾驶技术和传闻中的特斯拉餐厅的最终崛起，这种体验只会变得更好。</blockquote></p><p> This ecosystem will not only make Tesla unique, but it will also prevent consumers from moving over to its competitors because for consumers, it's all about modernized simplistic design with a frictionless experience that feels luxurious. I can't imagine any other automaker that can replicate Tesla’s brand and ecosystem. No automaker today is even close to providing its own superchargers, autonomous driving technologies, and unique software. Plus, no legacy automakers are or can sell FSD software for additional ten thousand dollars. The brand power, in my opinion, is strong enough to minimize the threat from the competition.</p><p><blockquote>这个生态系统不仅会使特斯拉独一无二，还会防止消费者转向其竞争对手，因为对于消费者来说，这一切都是关于现代化的简单设计和无摩擦的奢华体验。我无法想象任何其他汽车制造商能够复制特斯拉的品牌和生态系统。如今，没有一家汽车制造商能够提供自己的超级充电站、自动驾驶技术和独特的软件。此外，没有一家传统汽车制造商愿意或能够以额外一万美元的价格出售FSD软件。在我看来，品牌力量足够强大，可以将竞争的威胁降至最低。</blockquote></p><p> Thus, I believe investors do not need to worry too much about net income as long as the operational efficiencies do not get significantly worse. Tesla, in my opinion, is creating an ecosystem that will generate significant profitability through higher margins and more loyal customers in the future. Tesla is simply in its growth phases.</p><p><blockquote>因此，我认为只要运营效率没有明显恶化，投资者就不需要太担心净利润。在我看来，特斯拉正在创建一个生态系统，未来将通过更高的利润率和更忠诚的客户来产生可观的盈利能力。特斯拉正处于成长阶段。</blockquote></p><p> <b>Rising Competition</b></p><p><blockquote><b>竞争加剧</b></blockquote></p><p> Rising competition is a serious threat despite Tesla's unique ecosystem. I think it is true that the legacy automakers are posing some risks to Tesla; however, I believe that the risk is not great enough to hinder Tesla’s growth. I do agree that more prominent competitors like Volkswagen (OTCPK:VWAGY) do pose an immense threat, but I do not see this as the end of Tesla. In fact, I think both companies will thrive at the end of the day.</p><p><blockquote>尽管特斯拉拥有独特的生态系统，但日益加剧的竞争仍是一个严重威胁。我认为传统汽车制造商确实给特斯拉带来了一些风险；不过，我相信风险还没有大到阻碍特斯拉增长的程度。我确实同意大众汽车（OTCPK：VWAGY）等更突出的竞争对手确实构成了巨大的威胁，但我并不认为这是特斯拉的终结。事实上，我认为两家公司最终都会蓬勃发展。</blockquote></p><p> I will not go into details on why I believe that both Volkswagen and Tesla will succeed in the BEV market today because I will be focusing on why I think Tesla’s growth will not be affected by Volkswagen.</p><p><blockquote>我不会详细说明为什么我相信大众和特斯拉今天都会在纯电动汽车市场取得成功，因为我将重点关注为什么我认为特斯拉的增长不会受到大众的影响。</blockquote></p><p> First,the sheer size of the electric vehicle market&nbsp;is big enough to support multiple major players. In the age of ICE vehicles, Volkswagen was not the only major company. Similarly, I believe that the size of the EV market will support both Tesla, Volkswagen, and a few more companies. By 2025, the EV sales in the U.S. alone are expected to reach 6.9 million, far above 500,000 Tesla vehicle sales in 2020.</p><p><blockquote>首先，电动汽车市场的庞大规模足以支持多个主要参与者。在ICE汽车时代，大众并不是唯一的大公司。同样，我相信电动汽车市场的规模将支持特斯拉、大众和其他一些公司。到2025年，仅美国的电动汽车销量预计就将达到690万辆，远高于2020年50万辆的特斯拉汽车销量。</blockquote></p><p> Second, I believe Tesla has unique advantages like selling its FSD software for 10,000 dollars. We all know that selling EVs is not profitable yet, which makes Tesla selling its software extremely important. The Tesla brand is strong enough to sell an FSD software for 10,000 dollars. I believe that this advantage can not easily be implemented by other companies because it is the result of brand power and loyalty that comes from its ecosystem. By selling its software, Tesla can decrease the price of its vehicles, like in Japan and South Korea, while maintaining some levels of margin for growth Detering some threats from the competition.</p><p><blockquote>第二，我相信特斯拉有独特的优势，比如以10,000美元的价格出售其FSD软件。我们都知道销售电动汽车还没有盈利，这使得特斯拉销售其软件变得极其重要。特斯拉品牌强大到可以卖1万美元一个FSD软件。我相信这种优势不容易被其他公司实现，因为这是来自其生态系统的品牌力量和忠诚度的结果。通过出售其软件，特斯拉可以降低其汽车的价格，就像在日韩一样，同时保持一定水平的增长空间，阻止来自竞争的一些威胁。</blockquote></p><p> <b>Data Advantage</b></p><p><blockquote><b>数据优势</b></blockquote></p><p></p><p> Data, without any doubt, is becoming the new oil, getting more valuable by the seconds. The company that can correctly control and utilize data will be the winner going forward, and the very company utilizing massive amounts of user data is Tesla. Unlike any other autonomous driving technology developers, users pay Tesla to provide the company with the necessary data to improve the autonomous driving system. Google’s (NASDAQ:GOOG) Waymo uses specialized cars in heavily mapped areas to operate regional taxi networks, which costs money. However, Tesla’s customer, upon purchasing the vehicle, provides Tesla with valuable data for the company to process turning it into an autonomous vehicle technology. Also, the volume of the data Tesla can collect from its customers is simply unmatched. I think the advantage over the long term is obvious because the amount of data Tesla accumulates and utilizes will continue to far outpace any of its competitors potentially allowing Tesla to become one of the first companies to fully launch level 4 or above FSD.</p><p><blockquote>毫无疑问，数据正在成为新的石油，越来越有价值。能够正确控制和利用数据的公司将是未来的赢家，而利用海量用户数据的公司就是特斯拉。与其他任何自动驾驶技术开发商不同，用户向特斯拉付费，为该公司提供完善自动驾驶系统所需的数据。谷歌（纳斯达克股票代码：GOOG）的Waymo在地图密集的地区使用专门的汽车来运营区域出租车网络，这需要花钱。然而，特斯拉的客户在购买车辆后，向特斯拉提供了有价值的数据，供该公司处理将其转化为自动驾驶汽车技术。此外，特斯拉可以从客户那里收集的数据量是无与伦比的。我认为长期优势是显而易见的，因为特斯拉积累和利用的数据量将继续远远超过任何竞争对手，这可能使特斯拉成为首批全面推出4级或以上FSD的公司之一。</blockquote></p><p> <b>Risk</b></p><p><blockquote><b>风险</b></blockquote></p><p> I think the most obvious risk to my investment thesis is bias. Although I do not own any Tesla shares today, I have a very positive view of this company and plan to purchase shares in the coming weeks as I reallocate a portion of my portfolio to growth and tech stocks; thus, I may have introduced significant bias in my article by downplaying the competitive risk that Tesla faces. Also, because of my bias, I may have overstated the brand power that Tesla has.</p><p><blockquote>我认为我的投资论文最明显的风险是偏见。尽管我目前没有持有任何特斯拉股票，但我对这家公司持非常积极的看法，并计划在未来几周内购买股票，因为我将部分投资组合重新分配到成长型和科技股；因此，我可能在文章中淡化了特斯拉面临的竞争风险，从而引入了重大偏见。另外，由于我的偏见，我可能夸大了特斯拉的品牌影响力。</blockquote></p><p> Other than my bias, I believe political risk concerning China is one of Tesla's greatest threats. Political tensions between the countries led by the United States and China, are growing. During the past weekend,the G7 meeting further solidified this tension&nbsp;as the group of 7 nations targeted China’s human rights and coronavirus problems. The politics may change consumer sentiment in China or lead to Chinese government risk. For example, the&nbsp;Chinese government accused Tesla of spying on China using its cameras.It is clear that tensions are worsening and geopolitical threats will not be easing any time soon causing immense risk to Tesla.</p><p><blockquote>除了我的偏见，我认为涉华政治风险是特斯拉最大的威胁之一。以美国和中国为首的国家之间的政治紧张局势正在加剧。在过去的周末，七国集团会议进一步巩固了这种紧张局势，因为七国集团将目标对准了中国的人权和冠状病毒问题。政治可能会改变中国的消费者情绪或导致中国政府风险。例如，中国政府指责特斯拉利用其摄像头对中国进行间谍活动。很明显，紧张局势正在恶化，地缘政治威胁不会很快缓解，给特斯拉带来巨大风险。</blockquote></p><p> <b>Valuation and Financials</b></p><p><blockquote><b>估值和财务</b></blockquote></p><p> Multiple bearish arguments target that Tesla has an extremely high valuation at about 130 times the forward price to earnings. I believe that one must pay high prices for high-growth companies. Tesla is expected to grow its delivery volume by about 50% in 2021. I believe that his goal is achievable because Tesla is still selling less than 1 million vehicles a year, which is very small compared to competitors in the automobile industry. Also, the completion of Gigafactory Berlin and Austin later this year will contribute to the growth forecast. Finally, investors must take into account that Tesla is in its growth phases not growing profitability. As building EVs becomes profitable and Tesla enjoys the extra margin from its FSD software sale, profits have the potential to exponentially rise. Thus, I believe that the current argument on high valuation is not a huge concern. Investors need to look at Tesla as a high-growth company in its early stages.</p><p><blockquote>多个看跌论点的目标是特斯拉的估值极高，约为预期市盈率的130倍。我认为，高增长的公司必须付出高昂的代价。特斯拉预计2021年交付量将增长约50%。我相信他的目标是可以实现的，因为特斯拉一年的销量还不到100万辆，与汽车行业的竞争对手相比是非常小的。此外，今年晚些时候柏林和奥斯汀超级工厂的竣工将有助于增长预测。最后，投资者必须考虑到特斯拉正处于增长阶段，而不是盈利能力的增长。随着制造电动汽车变得有利可图，并且特斯拉从其FSD软件销售中获得额外利润，利润有可能呈指数级增长。因此，我认为目前关于高估值的争论并不是一个大问题。投资者需要将特斯拉视为一家处于早期阶段的高增长公司。</blockquote></p><p> Tesla's financials&nbsp;are fairly good suggesting that risks regarding financial health are limited. The company had about 17 billion dollars in cash and equivalents, which accounted for about 2.8% of the market cap. Tesla had a total asset of about 53 billion dollars and a total liability of about 28.5 billion dollars equating to a shareholder equity value of about 23 billion dollars and a liability to asset ratio (L/A) of about 53.7. The overall balance sheet poses no threat, and the immense cash pile is enough to support Tesla's growth; thus, I believe that Tesla's financials do not pose any threat to the company's future.</p><p><blockquote>特斯拉的财务状况相当良好，表明财务健康风险有限。该公司拥有约170亿美元现金及等价物，约占市值的2.8%。特斯拉的总资产约为530亿美元，总负债约为285亿美元，相当于股东权益价值约为230亿美元，资产负债率（L/A）约为53.7。整体资产负债表不构成威胁，庞大的现金储备足以支持特斯拉的增长；因此，我认为特斯拉的财务状况不会对公司的未来构成任何威胁。</blockquote></p><p> <b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> I believe that recent consolidation and weakness in Tesla is creating opportunities for long-term investors. Tesla is indeed unprofitable without regulatory credits and that competition is starting to heat up in the market. However, because Tesla is and was a growth company from the beginning, I believe that the profit levels today are acceptable. The company is simply choosing future growth over today's profits. Also, along with an EV market that can support multiple players, Tesla's unique ecosystem, brand loyalty, and data utilization will shield the company from experience any slow down. Rising competition is natural and should not be feared. Finally, the valuation and risk regarding China may be a concern; however, I believe, for reasons that I have discussed, Tesla is a buy today.</p><p><blockquote>我相信特斯拉最近的盘整和疲软正在为长期投资者创造机会。如果没有监管信用，特斯拉确实无法盈利，而且市场竞争开始升温。然而，由于特斯拉从一开始就是一家成长型公司，我相信今天的利润水平是可以接受的。该公司只是选择未来的增长而不是今天的利润。此外，除了可以支持多个参与者的电动汽车市场之外，特斯拉独特的生态系统、品牌忠诚度和数据利用率将使该公司免受任何放缓的影响。竞争加剧是自然的，不应该害怕。最后，中国的估值和风险可能令人担忧；然而，我相信，出于我已经讨论过的原因，特斯拉今天值得买入。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436805-tesla-recent-weakness-is-an-opportunity\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4436805-tesla-recent-weakness-is-an-opportunity","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1163132894","content_text":"Summary\n\nTesla has been declining during the recent months, creating opportunities for patient investors.\nRising competition and profit concerns are not a problem for Tesla due to its key advantages.\nTesla's unique ecosystem and the size of the market will allow Tesla to continue its growth despite rising competition.\nAlthough risks remain, I believe that Tesla is a long-term buy because the company is still in its growth phases.\n\njetcityimage/iStock Editorial via Getty Images\nIntroduction\nOver the past few months, Tesla stock has been struggling to move upwards. This could be seen as normal since the stock saw a massive bull run in 2020 and some noticeable risks started arising. One of these risks was inflationary pressure leading to investors speculating that the FED will taper and raise rates earlier than expected. This fear caused the overall tech and growth sector to decline. However, the inflationary fears dragging the tech and growth sector have been weakening over the past few months. Although the actual inflation seen in the CPI data worsened year-over-year, investors are reacting less negatively to the news, lessening the pressure on overall tech and growth stocks. Also, the 10-year treasury yield is declining finally setting up a potential for a rotation back into tech and growth. Thus, as the overall market is turning favorable for tech and growth stocks, I would like to discuss one of the most famous growth stocks, Tesla (NASDAQ:TSLA).\nInvestment Thesis\nTesla recently has been under attack as investors started questioning valuations and competitive risks. Some bearish arguments pointed out that the competition was intensifying in the BEV (battery electric vehicle) industry, and that Tesla is still unprofitable without selling Bitcoin (BTC-USD) and carbon emissions credit. While I agree that these risks are legitimate and should be considered, I believe that these risks are insignificant to Tesla’s future opportunities. In fact, I think this short-term turmoil is only causing buying opportunities. Here’s why:\n\nTesla is creating its own ecosystem that no other automakers can replicate.\nIn the age where data is the new oil, Tesla is the only automaker utilizing the valuable data.\n\nBears Say: Tesla Is Still Unprofitable\nBy now, it is well known that Tesla’s profitability does not come from selling cars. Tesla, despite improvements over the years, still relies heavily on regulatory credits to generate income. I believe that this does not pose any problem. Tesla simply does not need to make money today; this may continue to be a threat in the short term, but I think the current profitability structure is fine from a long-term investor perspective. Tesla has been treading along the profitability breakeven point; I think Tesla is leveraging its ability to generate cash from selling regulatory credits to invest back into its growth. The BEV market is just getting started and as bears have pointed out, the competition is starting to roll in; thus, there is no reason for Tesla to sacrifice growth for profits today.\nAn example of Tesla focusing on growth instead of profits is Tesla’s commitment to making a 25,000$ vehicle.This cheap vehicle will not be good for Tesla’s margins or net income; however, the vehicle will further strengthen Tesla’s ecosystem, which will be discussed later, and expand the overall BEV market. As the overall BEV market expands, the volume will soon follow, allowing Tesla to be more efficient with scale as the most expensive component in the vehicle, lithium-ion battery price decreases over time. Tesla’s strategy has been clear since the beginning: focus on growth. Nothing has changed but investors' expectations; profits will naturally follow as the market matures. Now is simply not the time to focus on profits.\nBloomberg: Quoting GM CEO Mary\n\n EV margins will match what they are today for combustion-engine cars by the “mid or later part of the decade.”\n\nFurthermore, as the quote shows, EV profitability is not only Tesla’s problem. No automaker is making significant positive net income selling BEV vehicles today. Thus, Tesla's focus on growth and the economies of scale should not be criticized.\n\nAs the picture above shows, Lithium-ion battery pack costs are continuing to decrease significantly, and as this trend accelerates, Tesla’s margin will naturally go up. Thus, Tesla’s best interest is still in growth and expansion rather than achieving limited profitability today.\nUnique Ecosystem\nMoving on to my bullish argument, Tesla has a unique ecosystem that can not be replicated by any other legacy automobile manufacturers. To know the importance of an ecosystem, we need to look at Apple(NASDAQ:AAPL). What makes Apple so different? Samsung (OTC:SSNLF) sells more phones than Apple, yet Apple makes more money, by far. Furthermore, iPhone does not have the highest specs. iPhones do not have the best camera (in terms of megapixels), biggest RAM, biggest storage, or best screen refresh rate. Then, why is Apple making so much money and why can't other manufacturers with similar technology replicate Apple’s success? The answer to this question, in my opinion, is that Apple has an ecosystem that can not be replicated by Samsung or any other phone maker. Consumers love Apple’s ecosystem that offers every service in a simple, immersive, and frictionless manner. Once a consumer enters this ecosystem, it is almost impossible to leave. Apple makes its own chips, operating system, music services, tablets, laptops, app stores, and many more services locking in loyal customers and selling products at higher margins. Then, what is Tesla’s ecosystem? It is still in the early stages, but Tesla is the only automaker that operates its own charging station allowing consumers to experience the frictionless ecosystem or connectivity. Tesla cars preheat the battery and get the battery ready for supercharging while the car locates the chargers and leads the driver to the superchargers. The ecosystem does not stop here, Tesla, like Apple, designs its own chips, own operating system, and autonomous driving technology, which creates an immersive and frictionless ecosystem like Apple. The software and charging experience is unmatched, and it is only getting better with the eventual rise of autonomous technology and rumored Tesla restaurants.\nThis ecosystem will not only make Tesla unique, but it will also prevent consumers from moving over to its competitors because for consumers, it's all about modernized simplistic design with a frictionless experience that feels luxurious. I can't imagine any other automaker that can replicate Tesla’s brand and ecosystem. No automaker today is even close to providing its own superchargers, autonomous driving technologies, and unique software. Plus, no legacy automakers are or can sell FSD software for additional ten thousand dollars. The brand power, in my opinion, is strong enough to minimize the threat from the competition.\nThus, I believe investors do not need to worry too much about net income as long as the operational efficiencies do not get significantly worse. Tesla, in my opinion, is creating an ecosystem that will generate significant profitability through higher margins and more loyal customers in the future. Tesla is simply in its growth phases.\nRising Competition\nRising competition is a serious threat despite Tesla's unique ecosystem. I think it is true that the legacy automakers are posing some risks to Tesla; however, I believe that the risk is not great enough to hinder Tesla’s growth. I do agree that more prominent competitors like Volkswagen (OTCPK:VWAGY) do pose an immense threat, but I do not see this as the end of Tesla. In fact, I think both companies will thrive at the end of the day.\nI will not go into details on why I believe that both Volkswagen and Tesla will succeed in the BEV market today because I will be focusing on why I think Tesla’s growth will not be affected by Volkswagen.\nFirst,the sheer size of the electric vehicle market is big enough to support multiple major players. In the age of ICE vehicles, Volkswagen was not the only major company. Similarly, I believe that the size of the EV market will support both Tesla, Volkswagen, and a few more companies. By 2025, the EV sales in the U.S. alone are expected to reach 6.9 million, far above 500,000 Tesla vehicle sales in 2020.\nSecond, I believe Tesla has unique advantages like selling its FSD software for 10,000 dollars. We all know that selling EVs is not profitable yet, which makes Tesla selling its software extremely important. The Tesla brand is strong enough to sell an FSD software for 10,000 dollars. I believe that this advantage can not easily be implemented by other companies because it is the result of brand power and loyalty that comes from its ecosystem. By selling its software, Tesla can decrease the price of its vehicles, like in Japan and South Korea, while maintaining some levels of margin for growth Detering some threats from the competition.\nData Advantage\nData, without any doubt, is becoming the new oil, getting more valuable by the seconds. The company that can correctly control and utilize data will be the winner going forward, and the very company utilizing massive amounts of user data is Tesla. Unlike any other autonomous driving technology developers, users pay Tesla to provide the company with the necessary data to improve the autonomous driving system. Google’s (NASDAQ:GOOG) Waymo uses specialized cars in heavily mapped areas to operate regional taxi networks, which costs money. However, Tesla’s customer, upon purchasing the vehicle, provides Tesla with valuable data for the company to process turning it into an autonomous vehicle technology. Also, the volume of the data Tesla can collect from its customers is simply unmatched. I think the advantage over the long term is obvious because the amount of data Tesla accumulates and utilizes will continue to far outpace any of its competitors potentially allowing Tesla to become one of the first companies to fully launch level 4 or above FSD.\nRisk\nI think the most obvious risk to my investment thesis is bias. Although I do not own any Tesla shares today, I have a very positive view of this company and plan to purchase shares in the coming weeks as I reallocate a portion of my portfolio to growth and tech stocks; thus, I may have introduced significant bias in my article by downplaying the competitive risk that Tesla faces. Also, because of my bias, I may have overstated the brand power that Tesla has.\nOther than my bias, I believe political risk concerning China is one of Tesla's greatest threats. Political tensions between the countries led by the United States and China, are growing. During the past weekend,the G7 meeting further solidified this tension as the group of 7 nations targeted China’s human rights and coronavirus problems. The politics may change consumer sentiment in China or lead to Chinese government risk. For example, the Chinese government accused Tesla of spying on China using its cameras.It is clear that tensions are worsening and geopolitical threats will not be easing any time soon causing immense risk to Tesla.\nValuation and Financials\nMultiple bearish arguments target that Tesla has an extremely high valuation at about 130 times the forward price to earnings. I believe that one must pay high prices for high-growth companies. Tesla is expected to grow its delivery volume by about 50% in 2021. I believe that his goal is achievable because Tesla is still selling less than 1 million vehicles a year, which is very small compared to competitors in the automobile industry. Also, the completion of Gigafactory Berlin and Austin later this year will contribute to the growth forecast. Finally, investors must take into account that Tesla is in its growth phases not growing profitability. As building EVs becomes profitable and Tesla enjoys the extra margin from its FSD software sale, profits have the potential to exponentially rise. Thus, I believe that the current argument on high valuation is not a huge concern. Investors need to look at Tesla as a high-growth company in its early stages.\nTesla's financials are fairly good suggesting that risks regarding financial health are limited. The company had about 17 billion dollars in cash and equivalents, which accounted for about 2.8% of the market cap. Tesla had a total asset of about 53 billion dollars and a total liability of about 28.5 billion dollars equating to a shareholder equity value of about 23 billion dollars and a liability to asset ratio (L/A) of about 53.7. The overall balance sheet poses no threat, and the immense cash pile is enough to support Tesla's growth; thus, I believe that Tesla's financials do not pose any threat to the company's future.\nSummary\nI believe that recent consolidation and weakness in Tesla is creating opportunities for long-term investors. Tesla is indeed unprofitable without regulatory credits and that competition is starting to heat up in the market. However, because Tesla is and was a growth company from the beginning, I believe that the profit levels today are acceptable. The company is simply choosing future growth over today's profits. Also, along with an EV market that can support multiple players, Tesla's unique ecosystem, brand loyalty, and data utilization will shield the company from experience any slow down. Rising competition is natural and should not be feared. Finally, the valuation and risk regarding China may be a concern; however, I believe, for reasons that I have discussed, Tesla is a buy today.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":542,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159652128,"gmtCreate":1624965428864,"gmtModify":1631889032629,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>finally moving up. Canpleaseeee continue to do so!!&nbsp;&nbsp;","listText":"<a href=\"https://laohu8.com/S/579.SI\">$OCEANUS GROUP LIMITED(579.SI)$</a>finally moving up. Canpleaseeee continue to do so!!&nbsp;&nbsp;","text":"$OCEANUS GROUP LIMITED(579.SI)$finally moving up. Canpleaseeee continue to do so!!","images":[{"img":"https://static.tigerbbs.com/a3c8e591fe7a38ae9d451cd697135184","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159652128","isVote":1,"tweetType":1,"viewCount":490,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":805804916,"gmtCreate":1627868335435,"gmtModify":1631888783781,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/558.SI\">$UMS HOLDINGS LIMITED(558.SI)$</a>holding still!!","listText":"<a href=\"https://laohu8.com/S/558.SI\">$UMS HOLDINGS LIMITED(558.SI)$</a>holding still!!","text":"$UMS HOLDINGS LIMITED(558.SI)$holding still!!","images":[{"img":"https://static.tigerbbs.com/8583e4140edaf74ff154e0f61ee0a8af","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/805804916","isVote":1,"tweetType":1,"viewCount":777,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":142480751,"gmtCreate":1626168019073,"gmtModify":1631886968375,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NOK\">$Nokia Oyj(NOK)$</a>wad price to sell?&nbsp;[财迷]&nbsp;[贱笑]&nbsp;","listText":"<a href=\"https://laohu8.com/S/NOK\">$Nokia Oyj(NOK)$</a>wad price to sell?&nbsp;[财迷]&nbsp;[贱笑]&nbsp;","text":"$Nokia Oyj(NOK)$wad price to sell? [财迷] [贱笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/142480751","isVote":1,"tweetType":1,"viewCount":1338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":122339637,"gmtCreate":1624596584829,"gmtModify":1631891300365,"author":{"id":"3574975730290141","authorId":"3574975730290141","name":"sasa11","avatar":"https://static.tigerbbs.com/12e058ce6727186880f07f79a7025a0d","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574975730290141","idStr":"3574975730290141"},"themes":[],"htmlText":"Still got potential!","listText":"Still got potential!","text":"Still got potential!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/122339637","repostId":"1170542603","repostType":4,"repost":{"id":"1170542603","kind":"news","pubTimestamp":1624592567,"share":"https://www.laohu8.com/m/news/1170542603?lang=zh_CN&edition=full","pubTime":"2021-06-25 11:42","market":"us","language":"en","title":"Nokia Stock: From 5G Winner To Disappointment To Meme<blockquote>诺基亚股票：从5G赢家到失望再到模因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1170542603","media":"thestreet","summary":"Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology tr","content":"<p>Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology transformation cycle to (3) a source of “juicy tendies” for Wall Street Bets traders. Five years ago, it would have been hard to guess what would have happened to Nokia stock&nbsp;(<b>NOKIA</b>)&nbsp;since the mid-2010s.</p><p><blockquote>诺基亚已经从（1）失败的手机巨头变成了（2）一个关键技术转型周期中可能的赢家，变成了（3）华尔街投注交易者的“多汁倾向”来源。五年前，很难猜测诺基亚股票会发生什么（<b>诺基亚</b>）自2010年代中期以来。</blockquote></p><p> Wall Street Meme tells the story of this tech stock that has morphed from growth to value to meme – and that after fits and starts, still trades around pre-dot com bubble prices.</p><p><blockquote>《华尔街迷因》讲述了这只科技股从增长型到价值型再到迷因型的故事，而且在经历了断断续续之后，其交易价格仍然围绕互联网泡沫前的价格进行。</blockquote></p><p> <b>Nokia: an unlikely journey</b></p><p><blockquote><b>诺基亚：不太可能的旅程</b></blockquote></p><p> In 2007, moments before Apple’s iPhone disrupted (or perhaps reinvented) the world of consumer mobile devices forever, Nokiacontrolled50% of the smartphone market. But the company’s fall from grace did not take long: Nokia accounted for less than 3% of the market by late 2012.</p><p><blockquote>2007年，就在苹果的iPhone永远颠覆（或者重塑）消费移动设备世界之前，诺基亚控制了智能手机市场50%的份额。但该公司的失宠并没有持续多久：截至2012年底，诺基亚的市场份额还不到3%。</blockquote></p><p> However, the Finnish growth story did not end there. Between 2016-2017, Nokia began drawing the attention of investors looking to bet on the 5G upgrade cycle that would likely start a couple of years later. The company’s network division had been struggling, but the management team believed in a turnaround as 5G infrastructure had to be built around the globe.</p><p><blockquote>然而，芬兰的增长故事并没有就此结束。2016年至2017年间，诺基亚开始吸引投资者的注意，他们希望押注可能在几年后开始的5G升级周期。该公司的网络部门一直在苦苦挣扎，但管理团队相信，随着5G基础设施必须在全球范围内建设，情况会有所好转。</blockquote></p><p> True to its roots, unfortunately,Nokia disappointed yet again. In 2019, the company warned that its recovery was in jeopardy, as competition with Ericsson and Huawei for 5G contracts became too fierce for Nokia to handle. The company’s dividend payment was slashed, and a restructuring process began.</p><p><blockquote>忠于其根源，不幸的是，诺基亚再次失望了。2019年，该公司警告称，其复苏处于危险之中，因为与爱立信和华为争夺5G合同的竞争变得过于激烈，诺基亚无法应对。该公司的股息支付被大幅削减，重组过程开始。</blockquote></p><p> <b>Meme stock for a day</b></p><p><blockquote><b>一天的模因股票</b></blockquote></p><p> For the past five years, Nokia stock consistently traded between $3 and $5 per share, with the eventual spikes and dips in share price eventually correcting. The notable exception happened on January 27 of this year.</p><p><blockquote>在过去的五年里，诺基亚股票的交易价格一直在每股3美元至5美元之间，股价的上涨和下跌最终都会有所调整。值得注意的例外发生在今年1月27日。</blockquote></p><p> On that day, Nokia climbed to $6.55 per share, from only $3.87 two weeks earlier. The stock was “victim” of a bullish Wall Street Bets meme attack, around the time that short interest reached a five-year high of 60 million shares – fertile ground for a short squeeze.</p><p><blockquote>当天，诺基亚股价从两周前的3.87美元攀升至每股6.55美元。该股是华尔街看涨押注模因攻击的“受害者”，当时空头兴趣达到了6000万股的五年高点——这是轧空的沃土。</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>Nokia Stock: From 5G Winner To Disappointment To Meme<blockquote>诺基亚股票：从5G赢家到失望再到模因</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\">\nNokia Stock: From 5G Winner To Disappointment To Meme<blockquote>诺基亚股票：从5G赢家到失望再到模因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">thestreet</strong><span class=\"h-time small\">2021-06-25 11:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology transformation cycle to (3) a source of “juicy tendies” for Wall Street Bets traders. Five years ago, it would have been hard to guess what would have happened to Nokia stock&nbsp;(<b>NOKIA</b>)&nbsp;since the mid-2010s.</p><p><blockquote>诺基亚已经从（1）失败的手机巨头变成了（2）一个关键技术转型周期中可能的赢家，变成了（3）华尔街投注交易者的“多汁倾向”来源。五年前，很难猜测诺基亚股票会发生什么（<b>诺基亚</b>）自2010年代中期以来。</blockquote></p><p> Wall Street Meme tells the story of this tech stock that has morphed from growth to value to meme – and that after fits and starts, still trades around pre-dot com bubble prices.</p><p><blockquote>《华尔街迷因》讲述了这只科技股从增长型到价值型再到迷因型的故事，而且在经历了断断续续之后，其交易价格仍然围绕互联网泡沫前的价格进行。</blockquote></p><p> <b>Nokia: an unlikely journey</b></p><p><blockquote><b>诺基亚：不太可能的旅程</b></blockquote></p><p> In 2007, moments before Apple’s iPhone disrupted (or perhaps reinvented) the world of consumer mobile devices forever, Nokiacontrolled50% of the smartphone market. But the company’s fall from grace did not take long: Nokia accounted for less than 3% of the market by late 2012.</p><p><blockquote>2007年，就在苹果的iPhone永远颠覆（或者重塑）消费移动设备世界之前，诺基亚控制了智能手机市场50%的份额。但该公司的失宠并没有持续多久：截至2012年底，诺基亚的市场份额还不到3%。</blockquote></p><p> However, the Finnish growth story did not end there. Between 2016-2017, Nokia began drawing the attention of investors looking to bet on the 5G upgrade cycle that would likely start a couple of years later. The company’s network division had been struggling, but the management team believed in a turnaround as 5G infrastructure had to be built around the globe.</p><p><blockquote>然而，芬兰的增长故事并没有就此结束。2016年至2017年间，诺基亚开始吸引投资者的注意，他们希望押注可能在几年后开始的5G升级周期。该公司的网络部门一直在苦苦挣扎，但管理团队相信，随着5G基础设施必须在全球范围内建设，情况会有所好转。</blockquote></p><p> True to its roots, unfortunately,Nokia disappointed yet again. In 2019, the company warned that its recovery was in jeopardy, as competition with Ericsson and Huawei for 5G contracts became too fierce for Nokia to handle. The company’s dividend payment was slashed, and a restructuring process began.</p><p><blockquote>忠于其根源，不幸的是，诺基亚再次失望了。2019年，该公司警告称，其复苏处于危险之中，因为与爱立信和华为争夺5G合同的竞争变得过于激烈，诺基亚无法应对。该公司的股息支付被大幅削减，重组过程开始。</blockquote></p><p> <b>Meme stock for a day</b></p><p><blockquote><b>一天的模因股票</b></blockquote></p><p> For the past five years, Nokia stock consistently traded between $3 and $5 per share, with the eventual spikes and dips in share price eventually correcting. The notable exception happened on January 27 of this year.</p><p><blockquote>在过去的五年里，诺基亚股票的交易价格一直在每股3美元至5美元之间，股价的上涨和下跌最终都会有所调整。值得注意的例外发生在今年1月27日。</blockquote></p><p> On that day, Nokia climbed to $6.55 per share, from only $3.87 two weeks earlier. The stock was “victim” of a bullish Wall Street Bets meme attack, around the time that short interest reached a five-year high of 60 million shares – fertile ground for a short squeeze.</p><p><blockquote>当天，诺基亚股价从两周前的3.87美元攀升至每股6.55美元。该股是华尔街看涨押注模因攻击的“受害者”，当时空头兴趣达到了6000万股的五年高点——这是轧空的沃土。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/memestocks/other-memes/nokia-stock-from-5g-winner-to-disappointment-to-meme\">thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NOK":"诺基亚"},"source_url":"https://www.thestreet.com/memestocks/other-memes/nokia-stock-from-5g-winner-to-disappointment-to-meme","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170542603","content_text":"Nokia has gone from (1) failed mobile phone powerhouse to (2) likely winner in one key technology transformation cycle to (3) a source of “juicy tendies” for Wall Street Bets traders. Five years ago, it would have been hard to guess what would have happened to Nokia stock (NOKIA) since the mid-2010s.\nWall Street Meme tells the story of this tech stock that has morphed from growth to value to meme – and that after fits and starts, still trades around pre-dot com bubble prices.\nNokia: an unlikely journey\nIn 2007, moments before Apple’s iPhone disrupted (or perhaps reinvented) the world of consumer mobile devices forever, Nokiacontrolled50% of the smartphone market. But the company’s fall from grace did not take long: Nokia accounted for less than 3% of the market by late 2012.\nHowever, the Finnish growth story did not end there. Between 2016-2017, Nokia began drawing the attention of investors looking to bet on the 5G upgrade cycle that would likely start a couple of years later. The company’s network division had been struggling, but the management team believed in a turnaround as 5G infrastructure had to be built around the globe.\nTrue to its roots, unfortunately,Nokia disappointed yet again. In 2019, the company warned that its recovery was in jeopardy, as competition with Ericsson and Huawei for 5G contracts became too fierce for Nokia to handle. The company’s dividend payment was slashed, and a restructuring process began.\nMeme stock for a day\nFor the past five years, Nokia stock consistently traded between $3 and $5 per share, with the eventual spikes and dips in share price eventually correcting. The notable exception happened on January 27 of this year.\nOn that day, Nokia climbed to $6.55 per share, from only $3.87 two weeks earlier. The stock was “victim” of a bullish Wall Street Bets meme attack, around the time that short interest reached a five-year high of 60 million shares – fertile ground for a short squeeze.","news_type":1,"symbols_score_info":{"NOK":0.9}},"isVote":1,"tweetType":1,"viewCount":708,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}