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Derrickcdh

Derrickcdh

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2021-03-05

$SINGAPORE AIRLINES LTD(C6L.SI)$Dangerous time to be in, waiting to get in around 4+ now

2021-04-02

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Alibaba's Stock Is Entering Make It Or Break It Time<blockquote>阿里巴巴的股票正进入成败时刻</blockquote>

2021-03-25

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Why AMC Entertainment was Falling 15% Wednesday<blockquote>为什么AMC院线周三下跌 15%</blockquote>

2021-05-17

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2021-05-14

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2021-06-10

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2021-04-19

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2021-04-16

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

2021-04-07

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2021-04-20

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11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>由于模因股票交易员，对冲基金的 AMC 押注瓦解</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital 的亏损显示了投资模因股票的风险。</b>多管齐下的赌注 onAMC Entertainment HoldingsInc.AMC15.39% 本月对 Mudrick Capital Management LP 进行了回旋镖，Mudrick Capital Management LP 是最新一家成为日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约 10%，原因是 AMC 股价的飙升意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助 GameStopCorp.GME5.88% 和其他股票的价格在 1 月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。穆德里克资本（Mudrick Capital）的亏损凸显了保留对此类公司的大量投资风险有多大--甚至会对一家与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的效果。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森-穆德里克（Jason Mudrick）几个月来一直在交易 AMC 的股票、期权和债券，这激发了个人投资者对这家连锁影院的热情。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金对 AMC 的风险敞口。这些知情人士说，这些衍生品合约赋予买家未来以约 40 美元的价格从穆德里克手中购买 AMC 股票的权利，但最近 Reddit 推动的购买活动卷土重来，将 AMC 的股价推向了新纪录，这些衍生品合约却膨胀成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的 AMC 战略的一部分，Mudrick Capital 的高管正在与 AMC 进行谈判，计划于 5 月下旬从该公司购买更多股票。 6 月 1 日，AMC 披露，Mudrick Capital 已同意以每股 27.12 美元的价格直接从该公司购买 2.305 亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了这只股票获利，彭博新闻社报道了这一快速转变，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6 月 1 日，Reddit 华尔街投注论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀.他们搬起石头砸了自己的脚。”当时的其他帖子将穆德里克称为 “失败者”、“人渣袋”和 “一大堆没有未来的 S-T”。论坛成员互相敦促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>在穆德里克内部，随着 AMC 反弹势头的增强，高管们越来越担心。6 月 1 日晚，该公司的风险委员会在股价收于 32 美元后召开会议，决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>已经晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6 月 2 日，AMC 的股价在几个小时内就突破了 40 美元，盘中最高触及 72.62 美元。看涨期权期权价格在穆德里克资本推动的交易狂潮中飙升，到本周末，获胜的交易变成了破产，该基金损失了数亿美元。Mudrick Capital 出售的债务回报率约为 5%，但在考虑其期权交易后，该基金在 AMC 上净亏损约 5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位人士说，穆德里克先生的基金今年仍上涨了约 12%。与此同时，年初购买 AMC 股票并持有的投资者上涨了约 2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的一个决定性发展，导致顶级对冲基金损失数十亿美元，引发了国会听证会，并引起了美国证券交易委员会的审查。现在，越来越多的对冲基金在社交媒体上追踪个人投资者的情绪，并更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克专门从事不良债务投资，经常以高利率贷款给陷入困境的公司，或者在破产法庭上将现有债务换成股权。穆德里克管理着全公司约 35 亿美元的投资，并持有电子烟制造商 NJOY Holdings Inc. 和卫星通信公司 GlobalStarInc. 的大量非流动性股份。根据汇丰另类投资集团的数据，该旗舰基金报告称，从2018年到2020年，年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但陷入困境的投资机会让 findas 变得更加困难。美联储提供的宽松资金甚至让陷入困境的公司也可以进入债务市场。穆德里克先生还探索了其他策略，推出了几家特殊目的收购公司，就 AMC 而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于 AMC，以每美元 20 美分的价格购买债券，在 12 月份借给该公司 1 亿美元，并将部分债券交换为新股。在 Covid-19 大流行封锁期间，本已面临压力的影院上座率几乎完全消失，AMC 股价低至 2 美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将重新对大屏幕娱乐产生兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1 月下旬，日内交易者首次涌入 AMC，在社交媒体上互相敦促#SaveAMC，并短暂地将股价提升至 20 美元左右。AMC 股权价值的上升推高了债券价格--穆德里克资本持有的一只债券在一周内翻了一番--很快就回报了穆德里克先生的乐观情绪。AMC 利用其飙升的股价，在 1 月下旬筹集了近 10 亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克出售了 AMC 股票的看涨期权期权，产生了即时收入，以抵消连锁影院确实面临问题时的潜在损失。这些衍生品让买家可以选择以约 40 美元的价格从 Mudrick Capital 购买 AMC 股票——当股价低于 10 美元时，这似乎不太可能。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与 AMC 首席执行官亚当·阿伦 (Adam Aron) 就提供额外资金事宜保持联系，导致他最近购买了股票。但一位知情人士表示，他将衍生品合约作为保险单保留。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>由于模因股票交易员，对冲基金的 AMC 押注瓦解</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders<blockquote>由于模因股票交易员，对冲基金的 AMC 押注瓦解</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-06-12 11:53</span>\n</p>\n</h4>\n</header>\n<article>\n<p>  <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>  A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p><p><blockquote><b>Mudrick Capital 的亏损显示了投资模因股票的风险。</b>多管齐下的赌注 onAMC Entertainment HoldingsInc.AMC15.39% 本月对 Mudrick Capital Management LP 进行了回旋镖，Mudrick Capital Management LP 是最新一家成为日内交易者受害者的对冲基金。</blockquote></p><p> Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p><p><blockquote>知情人士称，穆德里克的旗舰基金在短短几天内损失了约 10%，原因是 AMC 股价的飙升意外引发了该基金作为复杂交易策略一部分持有的衍生品价值的变化。</blockquote></p><p> The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p><p><blockquote>几个月前，一群在社交媒体上组织的交易员帮助 GameStopCorp.GME5.88% 和其他股票的价格在 1 月份飙升，远远超出了许多投资者对基本面的看法。</blockquote></p><p> The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p><p><blockquote>这一事态发展促使许多对冲基金削减了对模因股票的投资。穆德里克资本（Mudrick Capital）的亏损凸显了保留对此类公司的大量投资风险有多大--甚至会对一家与个人投资者的看涨情绪基本同步的对冲基金经理产生适得其反的效果。</blockquote></p><p> Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p><p><blockquote>该公司创始人杰森-穆德里克（Jason Mudrick）几个月来一直在交易 AMC 的股票、期权和债券，这激发了个人投资者对这家连锁影院的热情。但他也出售了看涨期权期权，这是一种衍生品合约，旨在对冲该基金对 AMC 的风险敞口。这些知情人士说，这些衍生品合约赋予买家未来以约 40 美元的价格从穆德里克手中购买 AMC 股票的权利，但最近 Reddit 推动的购买活动卷土重来，将 AMC 的股价推向了新纪录，这些衍生品合约却膨胀成了负债。</blockquote></p><p> As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p><p><blockquote>作为更广泛的 AMC 战略的一部分，Mudrick Capital 的高管正在与 AMC 进行谈判，计划于 5 月下旬从该公司购买更多股票。 6 月 1 日，AMC 披露，Mudrick Capital 已同意以每股 27.12 美元的价格直接从该公司购买 2.305 亿美元的新股，高于当时的交易价格。</blockquote></p><p> Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p><p><blockquote>穆德里克立即出售了这只股票获利，彭博新闻社报道了这一快速转变，并在社交媒体上引发了强烈反对。</blockquote></p><p> “Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p><p><blockquote>6 月 1 日，Reddit 华尔街投注论坛上的一篇帖子写道：“穆德里克没有在背后捅AMC一刀.他们搬起石头砸了自己的脚。”当时的其他帖子将穆德里克称为 “失败者”、“人渣袋”和 “一大堆没有未来的 S-T”。论坛成员互相敦促买入并持有。</blockquote></p><p> Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p><p><blockquote>在穆德里克内部，随着 AMC 反弹势头的增强，高管们越来越担心。6 月 1 日晚，该公司的风险委员会在股价收于 32 美元后召开会议，决定在第二天退出所有债务和衍生品头寸。</blockquote></p><p> It was a day too late.</p><p><blockquote>已经晚了一天。</blockquote></p><p> AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p><p><blockquote>6 月 2 日，AMC 的股价在几个小时内就突破了 40 美元，盘中最高触及 72.62 美元。看涨期权期权价格在穆德里克资本推动的交易狂潮中飙升，到本周末，获胜的交易变成了破产，该基金损失了数亿美元。Mudrick Capital 出售的债务回报率约为 5%，但在考虑其期权交易后，该基金在 AMC 上净亏损约 5.4%。</blockquote></p><p> Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p><p><blockquote>其中一位人士说，穆德里克先生的基金今年仍上涨了约 12%。与此同时，年初购买 AMC 股票并持有的投资者上涨了约 2000%。</blockquote></p><p> The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p><p><blockquote>社交媒体推动的日内交易者的影响已成为今年市场的一个决定性发展，导致顶级对冲基金损失数十亿美元，引发了国会听证会，并引起了美国证券交易委员会的审查。现在，越来越多的对冲基金在社交媒体上追踪个人投资者的情绪，并更加关注市值较小的公司，这些公司的股价可能更容易受到个人投资者热情的影响。</blockquote></p><p> Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p><p><blockquote>穆德里克专门从事不良债务投资，经常以高利率贷款给陷入困境的公司，或者在破产法庭上将现有债务换成股权。穆德里克管理着全公司约 35 亿美元的投资，并持有电子烟制造商 NJOY Holdings Inc. 和卫星通信公司 GlobalStarInc. 的大量非流动性股份。根据汇丰另类投资集团的数据，该旗舰基金报告称，从2018年到2020年，年回报率约为17%。</blockquote></p><p> But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p><p><blockquote>但陷入困境的投资机会让 findas 变得更加困难。美联储提供的宽松资金甚至让陷入困境的公司也可以进入债务市场。穆德里克先生还探索了其他策略，推出了几家特殊目的收购公司，就 AMC 而言，最终通过大宗交易购买股票。</blockquote></p><p></p><p> Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p><p><blockquote>穆德里克最初将他的典型策略应用于 AMC，以每美元 20 美分的价格购买债券，在 12 月份借给该公司 1 亿美元，并将部分债券交换为新股。在 Covid-19 大流行封锁期间，本已面临压力的影院上座率几乎完全消失，AMC 股价低至 2 美元。他推断，随着越来越多的美国人接种疫苗，消费者今年将重新对大屏幕娱乐产生兴趣。</blockquote></p><p> Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p><p><blockquote>1 月下旬，日内交易者首次涌入 AMC，在社交媒体上互相敦促#SaveAMC，并短暂地将股价提升至 20 美元左右。AMC 股权价值的上升推高了债券价格--穆德里克资本持有的一只债券在一周内翻了一番--很快就回报了穆德里克先生的乐观情绪。AMC 利用其飙升的股价，在 1 月下旬筹集了近 10 亿美元的新融资，使其能够避免此前预期的破产申请。</blockquote></p><p> Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p><p><blockquote>大约在那个时候，穆德里克出售了 AMC 股票的看涨期权期权，产生了即时收入，以抵消连锁影院确实面临问题时的潜在损失。这些衍生品让买家可以选择以约 40 美元的价格从 Mudrick Capital 购买 AMC 股票——当股价低于 10 美元时，这似乎不太可能。</blockquote></p><p> Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p><p><blockquote>穆德里克先生与 AMC 首席执行官亚当·阿伦 (Adam Aron) 就提供额外资金事宜保持联系，导致他最近购买了股票。但一位知情人士表示，他将衍生品合约作为保险单保留。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/106828545","repostId":"1147234999","repostType":4,"isVote":1,"tweetType":1,"viewCount":449,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":103861752,"gmtCreate":1619768326276,"gmtModify":1634210065160,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576217643343722","idStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/103861752","repostId":"1153490597","repostType":4,"isVote":1,"tweetType":1,"viewCount":541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109211151,"gmtCreate":1619699230673,"gmtModify":1634210639034,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576217643343722","idStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Would appreciate like&nbsp;","listText":"Would appreciate like&nbsp;","text":"Would appreciate like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/109211151","repostId":"1183966356","repostType":4,"repost":{"id":"1183966356","kind":"news","pubTimestamp":1619665696,"share":"https://www.laohunote.com/m/news/1183966356?lang=zh_CN&edition=full","pubTime":"2021-04-29 11:08","market":"us","language":"en","title":"NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来 2021 年第一季度收益报告预览：看点</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1183966356","media":"InvestoPedia","summary":"Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.Revenue is expected to soar on expanding vehicle sales.NIO Inc. , like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles . NIO's production stoppage in late March had little impact on the company's record ve","content":"<p>Focus on NIO vehicle deliveries</p><p><blockquote>专注于蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>主要要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计 2020 财年第一季度每股美国存托凭证收益为 -0.72 元，而 -1.66 元。</li><li>已经宣布的汽车交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>与许多其他汽车制造商一样，由于全球半导体短缺，蔚来（蔚来）今年被迫停产。半导体芯片广泛用于智能手机、计算机和其他电子设备，对于高端电动汽车 (EV) 制造商蔚来来说尤为重要。蔚来汽车3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来汽车于 2021 年 4 月 29 日公布 2021 财年第一季度收益时，投资者将关注这些力量如何影响蔚来汽车的近期业绩及其财务前景。分析师预计，随着收入的快速增长，该公司每股美国存托股 (ADS) 的亏损将大幅缩小。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>汽车交付量是投资者衡量公司生产能力的另一个关键指标。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度记录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来股价的表现大幅优于大盘。但在今年早些时候触及历史高点后，该股大幅下跌，自 3 月初以来大部分时间横盘整理。过去一年，蔚来汽车的股票为投资者提供了1,171.9%的天文数字总回报率，远高于标准普尔500指数45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在 2 月中旬左右见顶后一直在积聚下跌动力，但在蔚来汽车 3 月初发布 2020 财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来汽车的亏损较去年同期大幅收窄，收入仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率从去年同期的负8.9%升至17.2%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来公布每股美国存托凭证亏损0.98元（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来最小的损失。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，交付的车辆数量创历史新高，平均售价有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来汽车2021财年第一季度的财务业绩将继续改善。虽然预计蔚来每股广告仍将出现另一次亏损，但预计这是至少 14 个季度以来的最低水平。该季度收入预计将增长 446.1%，这将是自 2019 财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长 109.7%，增速快于过去两年的每一年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中产生一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；ES6，该公司的5座高性能高端智能电动SUV；以及该公司的 5 座高端电动轿跑车 EC6。车辆交付数量表明了蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅增加了产量。该公司在2018财年交付了11,350辆汽车。2020 财年，这一数字几乎翻了两番，交付了 43,730 辆汽车。尽管2020财年第一季度因新冠肺炎疫情而放缓，但蔚来迅速弥补了第一季度交付量的下降，2020财年第二季度交付量同比增长190.8%。第三季度汽车总交付量增长率放缓至 154.3%，第四季度又放缓至 111.0%。然而，如上所述，2021 财年第一季度汽车交付量增长了 423.0%，创下了新的季度记录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺可能会削减其产能，至少在第二季度如此。</blockquote></p><p></p>","source":"lsy1606203311635","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来 2021 年第一季度收益报告预览：看点</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\">\nNIO Q1 2021 Earnings Report Preview: What to Look For<blockquote>蔚来 2021 年第一季度收益报告预览：看点</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">InvestoPedia</strong><span class=\"h-time small\">2021-04-29 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Focus on NIO vehicle deliveries</p><p><blockquote>专注于蔚来汽车交付</blockquote></p><p> <b>KEY TAKEAWAYS</b></p><p><blockquote><b>主要要点</b></blockquote></p><p> <ul>  <li>Analysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.</li>  <li>Vehicle deliveries, already announced, rose dramatically YOY.</li>  <li>Revenue is expected to soar on expanding vehicle sales.</li> </ul> NIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.</p><p><blockquote><ul><li>分析师预计 2020 财年第一季度每股美国存托凭证收益为 -0.72 元，而 -1.66 元。</li><li>已经宣布的汽车交付量同比大幅增长。</li><li>随着汽车销量的扩大，收入预计将飙升。</li></ul>与许多其他汽车制造商一样，由于全球半导体短缺，蔚来（蔚来）今年被迫停产。半导体芯片广泛用于智能手机、计算机和其他电子设备，对于高端电动汽车 (EV) 制造商蔚来来说尤为重要。蔚来汽车3月下旬的停产对该公司第一季度创纪录的汽车交付量影响不大，但可能会影响未来的产量。</blockquote></p><p> Investors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.</p><p><blockquote>当蔚来汽车于 2021 年 4 月 29 日公布 2021 财年第一季度收益时，投资者将关注这些力量如何影响蔚来汽车的近期业绩及其财务前景。分析师预计，随着收入的快速增长，该公司每股美国存托股 (ADS) 的亏损将大幅缩小。</blockquote></p><p> Vehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.</p><p><blockquote>汽车交付量是投资者衡量公司生产能力的另一个关键指标。蔚来本月早些时候已经公布了第一季度的汽车交付量，尽管总交付量略低于预期，但仍创下了新的季度记录。</blockquote></p><p> Shares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&amp;P 500's total return of 45.5%.</p><p><blockquote>过去一年，蔚来股价的表现大幅优于大盘。但在今年早些时候触及历史高点后，该股大幅下跌，自 3 月初以来大部分时间横盘整理。过去一年，蔚来汽车的股票为投资者提供了1,171.9%的天文数字总回报率，远高于标准普尔500指数45.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a11e1a915810ccbc7f07ec2adf16865b\" tg-width=\"3004\" tg-height=\"1798\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <b>NIO Earnings History</b></p><p><blockquote><b>蔚来盈利历史</b></blockquote></p><p> The stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's&nbsp;Q4 FY 2020 earnings&nbsp;report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its&nbsp;gross margin&nbsp;rose to 17.2% compared to negative 8.9% in the year-ago quarter.</p><p><blockquote>该股在 2 月中旬左右见顶后一直在积聚下跌动力，但在蔚来汽车 3 月初发布 2020 财年第四季度收益报告后暴跌。该公司报告的每股美国存托凭证亏损远高于分析师预期，收入也低于预期。不过，蔚来汽车的亏损较去年同期大幅收窄，收入仍增长133.2%。该公司对其业绩持乐观态度，指出其毛利率从去年同期的负8.9%升至17.2%。</blockquote></p><p> In Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.</p><p><blockquote>2020财年第三季度，蔚来公布每股美国存托凭证亏损0.98元（按2021年4月27日人民币/美元汇率计算为0.15美元）。这是至少11个季度以来最小的损失。收入增长146.4%，保持了第二季度的增长速度。蔚来表示，交付的车辆数量创历史新高，平均售价有所提高。该公司还表示，这是连续第二个季度经营活动现金流为正。</blockquote></p><p> Analysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.</p><p><blockquote>分析师预计蔚来汽车2021财年第一季度的财务业绩将继续改善。虽然预计蔚来每股广告仍将出现另一次亏损，但预计这是至少 14 个季度以来的最低水平。该季度收入预计将增长 446.1%，这将是自 2019 财年第二季度以来的最快增速。对于2021财年全年，分析师目前预计蔚来每股ADS亏损2.72元，这将是至少五年来的最小亏损。收入预计将增长 109.7%，增速快于过去两年的每一年。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d412a9c0aea28621f713f5afbfba444c\" tg-width=\"885\" tg-height=\"352\"><span>Source: Visible Alpha; NIO Inc.</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：可见阿尔法；蔚来</span></p></blockquote></p><p> <b>The Key Metric</b></p><p><blockquote><b>关键指标</b></blockquote></p><p> As mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.</p><p><blockquote>如上所述，投资者也在关注蔚来每个季度交付的汽车数量。蔚来从其提供的各种服务中产生一些收入，但大部分收入来自汽车销售。目前，该公司交付三种类型的车辆：ES8，该公司的6座和7座旗舰高端智能电动SUV；ES6，该公司的5座高性能高端智能电动SUV；以及该公司的 5 座高端电动轿跑车 EC6。车辆交付数量表明了蔚来汽车的需求以及该公司扩大生产的能力。</blockquote></p><p></p><p> NIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.</p><p><blockquote>蔚来在过去几年中大幅增加了产量。该公司在2018财年交付了11,350辆汽车。2020 财年，这一数字几乎翻了两番，交付了 43,730 辆汽车。尽管2020财年第一季度因新冠肺炎疫情而放缓，但蔚来迅速弥补了第一季度交付量的下降，2020财年第二季度交付量同比增长190.8%。第三季度汽车总交付量增长率放缓至 154.3%，第四季度又放缓至 111.0%。然而，如上所述，2021 财年第一季度汽车交付量增长了 423.0%，创下了新的季度记录。对于2021财年全年，分析师预测蔚来将交付88,280辆汽车，这将是去年总交付量的两倍多。然而，蔚来在3月初警告投资者，全球芯片短缺可能会削减其产能，至少在第二季度如此。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991\">InvestoPedia</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来"},"source_url":"https://www.investopedia.com/nio-q1-2021-earnings-report-preview-5180991","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1183966356","content_text":"Focus on NIO vehicle deliveries\nKEY TAKEAWAYS\n\nAnalysts estimate earnings per ADS of -0.72 yuan vs. -1.66 yuan in Q1 FY 2020.\nVehicle deliveries, already announced, rose dramatically YOY.\nRevenue is expected to soar on expanding vehicle sales.\n\nNIO Inc. (NIO), like many other automakers, was forced to halt production this year due to the global semiconductor shortage. Semiconductor chips, widely used in smartphones, computers, and other electronic devices, are especially important to NIO, a maker of premium electric vehicles (EVs). NIO's production stoppage in late March had little impact on the company's record vehicle deliveries in Q1, but it could affect future production numbers.\nInvestors will focus on how these forces affect NIO's immediate results, as well as its financial outlook, when the company reports earnings on April 29, 2021 for Q1 FY 2021.Analysts are expecting the company's loss per American depositary share (ADS) to narrow significantly as revenue expands at a rapid pace.\nVehicle deliveries are another key metric investors watch in order to gauge the company's productive capacity. NIO already reported vehicle deliveries for the first quarter earlier this month, achieving a new quarterly record despite total deliveries coming in slightly below expectations.\nShares of NIO have dramatically outperformed the broader market over the past year. But after reaching all-time highs earlier this year, the stock has fallen considerably and has been trading mostly sideways since early March. NIO's shares have provided investors with an astronomic total return of 1,171.9% over the past year, well above the S&P 500's total return of 45.5%.\nSource: TradingView.\nNIO Earnings History\nThe stock, which had been gathering downward momentum after peaking around mid-February, plunged following NIO's Q4 FY 2020 earnings report released at the beginning of March. The company reported a much larger loss per ADS than analysts expected and revenue also missed estimates. However, NIO's loss narrowed considerably compared to the year-ago quarter and revenue was still up 133.2%.The company was optimistic about its performance, noting that its gross margin rose to 17.2% compared to negative 8.9% in the year-ago quarter.\nIn Q3 FY 2020, NIO posted a loss per ADS of 0.98 yuan ($0.15 as of the CNY/USD exchange rate on April 27, 2021).It was the smallest loss in at least 11 quarters. Revenue rose 146.4%, maintaining the pace of growth achieved in the second quarter.NIO said it delivered a record number of vehicles and saw improvements in its average selling price. The company also said that it was the second straight quarter of positive cash flow from operating activities.\nAnalysts expect continued improvement in NIO's financial results in Q1 FY 2021. While NIO is still expected to post another loss per ADS, it is estimated to be the lowest in at least 14 quarters. Revenue for the quarter is forecast to rise 446.1%, which would be the fastest pace since Q2 FY 2019. For full-year FY 2021, analysts are currently expecting NIO to achieve a loss of 2.72 yuan per ADS, which would be the smallest loss in at least five years. Revenue is expected to rise 109.7%, a faster pace than in each of the last two years.\nSource: Visible Alpha; NIO Inc.\nThe Key Metric\nAs mentioned above, investors are also watching the number of vehicles NIO delivers each quarter. NIO generates some revenue from various services it provides, but the majority of revenue is derived from vehicle sales.Currently, the company makes deliveries of three types of vehicles: the ES8, the company's 6-seater and 7-seater flagship premium smart electric SUV; the ES6, the company’s 5-seater high-performance premium smart electric SUV; and the EC6, the company’s 5-seater premium electric coupe SUV.The number of vehicle deliveries provides an indication of the demand for NIO's vehicles as well as the company's ability to scale production.\nNIO has significantly ramped up its production over the past few years. The company delivered 11,350 vehicles in FY 2018. In FY 2020, it had nearly quadrupled that figure, delivering 43,730 vehicles. Despite a slowdown in Q1 FY 2020 amid the COVID-19 pandemic, NIO quickly made up for the Q1 drop in deliveries with a 190.8% year-over-year increase in Q2 FY 2020. Total vehicle delivery growth decelerated to 154.3% in Q3 and then to 111.0% in Q4. However, vehicle deliveries rose 423.0% in Q1 FY 2021, hitting a new quarterly record, as mentioned above. For full-year FY 2021, analysts are forecasting NIO to deliver 88,280 vehicles, which would be more than double last year's total deliveries. However, NIO warned investors in early March that the global chip shortage is likely to cut its production capacity, at least in the second quarter.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":643,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":100583717,"gmtCreate":1619621410139,"gmtModify":1634211254569,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576217643343722","idStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Would appreciate like and comment&nbsp;","listText":"Would appreciate like and comment&nbsp;","text":"Would appreciate like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/100583717","repostId":"1131068131","repostType":4,"isVote":1,"tweetType":1,"viewCount":345,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377936130,"gmtCreate":1619488363920,"gmtModify":1634212350675,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576217643343722","idStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Would appreciate like and comment&nbsp;","listText":"Would appreciate like and comment&nbsp;","text":"Would appreciate like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/377936130","repostId":"1190086074","repostType":4,"repost":{"id":"1190086074","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":1619480390,"share":"https://www.laohunote.com/m/news/1190086074?lang=zh_CN&edition=full","pubTime":"2021-04-27 07:39","market":"us","language":"en","title":"Tesla posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创历史新高 4.38 亿美元，收入激增 74%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190086074","media":"Tiger Newspress","summary":"Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be deliv","content":"<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.</li><li>In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”</li><li>On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.</li></ul>Tesla&nbsp;reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.</p><p><blockquote><ul><li>特斯拉公布本季度净利润为创纪录的 4.38 亿美元，每股收益为 93 美分，营收为 103.9 亿美元。</li><li>该公司在财报发布中表示，它已经度过了困扰汽车行业的芯片短缺问题，部分原因是 “迅速转向新型微控制器，同时为新供应商生产的新芯片开发固件”。</li><li>首席执行官埃隆-马斯克（Elon Musk）在财报看涨期权上表示，公司推迟推出的 Model S 轿车新版本将于 2021 年 5 月开始交付，Model X 将于今年第三季度开始交付。</li></ul>特斯拉周一盘后公布了第一季度业绩。在比特币出售和监管信贷的提振下，该公司轻松超出预期，但随着投资者消化这些数据，该股盘后下跌了 2.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/fec5c52f391c1077b749edc13b7b3417\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:</p><p><blockquote>以下是该公司本季度的表现与 Refinitiv 编制的分析师预期的比较：</blockquote></p><p><ul><li><b>Earnings:</b>93 cents per share vs. 79 cents per share expected</li><li><b>Revenue:</b>$10.39 billion vs. $10.29 billion expected, up 74% from a year ago</li></ul>Net profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from&nbsp;sales of bitcoin&nbsp;during the quarter.</p><p><blockquote><ul><li><b>收益：</b>每股 93 美分，预计每股 79 美分</li><li><b>收入：</b>103.9 亿美元，而预期为 102.9 亿美元，同比增长 74%</li></ul>按公认会计准则计算，季度净利润达到创纪录的 4.38 亿美元，该公司在此期间从监管信用销售收入中获得 5.18 亿美元。本季度比特币销售额还带来了 1.01 亿美元的积极影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/107ab1e725bed375ea106bdf3024ec6a\" tg-width=\"1910\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>CEO Elon Musk’s electric vehicle business reported in the first quarter&nbsp;vehicle deliveries of 184,800&nbsp;Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.</p><p><blockquote>首席执行官埃隆-马斯克（Elon Musk）的电动汽车业务第一季度交付了 18.48 万辆 Model 3 和 Model Y 汽车，超出预期，创下了特斯拉的纪录。不过，该公司还表示，截至 3 月份，它没有生产任何高端 Model S 轿车或 Model X SUV。它从库存中交付了 2,020 辆旧款 Model S 轿车和 Model X SUV。</blockquote></p><p>On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.</p><p><blockquote>在周一的财报看涨期权上，马斯克表示，公司新版 Model S 轿车最终将于 2021 年 5 月开始交付给客户，Model X 将于今年第三季度开始交付。马斯克和首席财务官扎卡里·柯克霍恩都表示，供应链问题今年可能仍然是特斯拉面临的挑战。</blockquote></p><p>In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.</p><p><blockquote>2021 年 1 月（在 2020 年第四季度收益更新期间），马斯克曾表示 Model S Plaid 已经投入生产，将于 2021 年 2 月开始交付。但他在周一承认，在生产这些车辆的更新版本时，“面临的挑战比预期的要多”。他没有详细说明。</blockquote></p><p>Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.</p><p><blockquote>特斯拉目前的目标是在今年晚些时候每周生产 2,000 辆 Model S 和 X 汽车。</blockquote></p><p>The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.</p><p><blockquote>该公司周一表示，预计 2021 年整体汽车交付量将增长 50% 以上，这意味着今年的最低交付量约为 75 万辆。</blockquote></p><p>The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.</p><p><blockquote>事实上，特斯拉的汽车销量同比增长超过 100%，但服务中心仅增长 28%，移动服务车队仅增长 22%，这解释了为什么一些特斯拉客户面临令人沮丧的漫长维修等待时间。服务扩展跟不上车辆销量。</blockquote></p><p>Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.</p><p><blockquote>特斯拉表示，该公司已经度过了困扰汽车行业的芯片短缺问题，部分原因是 “迅速转向新型微控制器，同时为新供应商生产的新芯片开发固件”。它没有透露新供应商的名字。</blockquote></p><p>It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.</p><p><blockquote>它还重申了马斯克经常说的，即摄像头而不是雷达是自动驾驶汽车的更好途径。“我们基于人工智能的软件架构越来越依赖摄像头，以至于雷达比预期更早变得不必要。因此，我们的 FSD（全自动驾驶）团队正全力致力于发展基于视觉的自主系统，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报发布会上说。</blockquote></p><p>Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.</p><p><blockquote>与 2020 年同期相比，特斯拉的能源发电和存储业务收入几乎翻了一番，当时马斯克表示，当时新兴的新冠疫情使其能源业务大幅放缓。但能源收入从第四季度的7.87亿美元下降至2021年第一季度的5.95亿美元。</blockquote></p><p>Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some&nbsp;vexed customers.</p><p><blockquote>最近，特斯拉将太阳能屋顶的价格提高了 50%，现在要求任何订购太阳能光伏（包括特斯拉太阳能屋顶瓦）的人也必须订购特斯拉的家庭储能系统 Powerwall。突然的价格变化追溯适用于一些烦恼的顾客。</blockquote></p><p>Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.</p><p><blockquote>马斯克在 2021 年第一季度看涨期权上表示，他的目标是让拥有太阳能屋顶和特斯拉电池的家庭成为 “巨型分布式公用事业公司”，随着需求和极端天气事件的增加，帮助现有电力公司为客户提供所需的所有电力。</blockquote></p><p></p><p>Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.</p><p><blockquote>高管们没有透露他们将如何改变供应商电池的生产或组合，以便在 2021 年生产更多的汽车和储能产品。</blockquote></p><p>Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.</p><p><blockquote>马斯克说，该公司自主研发并在加州弗里蒙特的一个试点工厂生产的 4680 电池还不够可靠，无法在特斯拉汽车上运输。他说，特斯拉可能会在 12 到 18 个月内 “实现这些电池的量产 ”。</blockquote></p><p>The company revealed in February it purchased&nbsp;$1.5 billion in bitcoin&nbsp;and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.</p><p><blockquote>该公司在2月份透露，它在比特币购买了15亿美元，未来可能会投资其他加密货币。到四月份，比特币升至创纪录水平，然后回落。特斯拉在现金流量表中透露，该公司在本季度出售了价值 2.72 亿美元的 “数字资产”，大概是比特币。</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 posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创历史新高 4.38 亿美元，收入激增 74%</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 posts record net income of $438 million, revenue surges by 74%<blockquote>特斯拉净利润创历史新高 4.38 亿美元，收入激增 74%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-04-27 07:39</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><b>KEY POINTS</b></p><p><blockquote><b>要点</b></blockquote></p><p><ul><li>Tesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.</li><li>In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”</li><li>On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.</li></ul>Tesla&nbsp;reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.</p><p><blockquote><ul><li>特斯拉公布本季度净利润为创纪录的 4.38 亿美元，每股收益为 93 美分，营收为 103.9 亿美元。</li><li>该公司在财报发布中表示，它已经度过了困扰汽车行业的芯片短缺问题，部分原因是 “迅速转向新型微控制器，同时为新供应商生产的新芯片开发固件”。</li><li>首席执行官埃隆-马斯克（Elon Musk）在财报看涨期权上表示，公司推迟推出的 Model S 轿车新版本将于 2021 年 5 月开始交付，Model X 将于今年第三季度开始交付。</li></ul>特斯拉周一盘后公布了第一季度业绩。在比特币出售和监管信贷的提振下，该公司轻松超出预期，但随着投资者消化这些数据，该股盘后下跌了 2.5%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/fec5c52f391c1077b749edc13b7b3417\" tg-width=\"1302\" tg-height=\"833\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:</p><p><blockquote>以下是该公司本季度的表现与 Refinitiv 编制的分析师预期的比较：</blockquote></p><p><ul><li><b>Earnings:</b>93 cents per share vs. 79 cents per share expected</li><li><b>Revenue:</b>$10.39 billion vs. $10.29 billion expected, up 74% from a year ago</li></ul>Net profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from&nbsp;sales of bitcoin&nbsp;during the quarter.</p><p><blockquote><ul><li><b>收益：</b>每股 93 美分，预计每股 79 美分</li><li><b>收入：</b>103.9 亿美元，而预期为 102.9 亿美元，同比增长 74%</li></ul>按公认会计准则计算，季度净利润达到创纪录的 4.38 亿美元，该公司在此期间从监管信用销售收入中获得 5.18 亿美元。本季度比特币销售额还带来了 1.01 亿美元的积极影响。</blockquote></p><p><img src=\"https://static.tigerbbs.com/107ab1e725bed375ea106bdf3024ec6a\" tg-width=\"1910\" tg-height=\"1097\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p>CEO Elon Musk’s electric vehicle business reported in the first quarter&nbsp;vehicle deliveries of 184,800&nbsp;Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.</p><p><blockquote>首席执行官埃隆-马斯克（Elon Musk）的电动汽车业务第一季度交付了 18.48 万辆 Model 3 和 Model Y 汽车，超出预期，创下了特斯拉的纪录。不过，该公司还表示，截至 3 月份，它没有生产任何高端 Model S 轿车或 Model X SUV。它从库存中交付了 2,020 辆旧款 Model S 轿车和 Model X SUV。</blockquote></p><p>On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.</p><p><blockquote>在周一的财报看涨期权上，马斯克表示，公司新版 Model S 轿车最终将于 2021 年 5 月开始交付给客户，Model X 将于今年第三季度开始交付。马斯克和首席财务官扎卡里·柯克霍恩都表示，供应链问题今年可能仍然是特斯拉面临的挑战。</blockquote></p><p>In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.</p><p><blockquote>2021 年 1 月（在 2020 年第四季度收益更新期间），马斯克曾表示 Model S Plaid 已经投入生产，将于 2021 年 2 月开始交付。但他在周一承认，在生产这些车辆的更新版本时，“面临的挑战比预期的要多”。他没有详细说明。</blockquote></p><p>Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.</p><p><blockquote>特斯拉目前的目标是在今年晚些时候每周生产 2,000 辆 Model S 和 X 汽车。</blockquote></p><p>The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.</p><p><blockquote>该公司周一表示，预计 2021 年整体汽车交付量将增长 50% 以上，这意味着今年的最低交付量约为 75 万辆。</blockquote></p><p>The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.</p><p><blockquote>事实上，特斯拉的汽车销量同比增长超过 100%，但服务中心仅增长 28%，移动服务车队仅增长 22%，这解释了为什么一些特斯拉客户面临令人沮丧的漫长维修等待时间。服务扩展跟不上车辆销量。</blockquote></p><p>Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.</p><p><blockquote>特斯拉表示，该公司已经度过了困扰汽车行业的芯片短缺问题，部分原因是 “迅速转向新型微控制器，同时为新供应商生产的新芯片开发固件”。它没有透露新供应商的名字。</blockquote></p><p>It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.</p><p><blockquote>它还重申了马斯克经常说的，即摄像头而不是雷达是自动驾驶汽车的更好途径。“我们基于人工智能的软件架构越来越依赖摄像头，以至于雷达比预期更早变得不必要。因此，我们的 FSD（全自动驾驶）团队正全力致力于发展基于视觉的自主系统，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报发布会上说。</blockquote></p><p>Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.</p><p><blockquote>与 2020 年同期相比，特斯拉的能源发电和存储业务收入几乎翻了一番，当时马斯克表示，当时新兴的新冠疫情使其能源业务大幅放缓。但能源收入从第四季度的7.87亿美元下降至2021年第一季度的5.95亿美元。</blockquote></p><p>Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some&nbsp;vexed customers.</p><p><blockquote>最近，特斯拉将太阳能屋顶的价格提高了 50%，现在要求任何订购太阳能光伏（包括特斯拉太阳能屋顶瓦）的人也必须订购特斯拉的家庭储能系统 Powerwall。突然的价格变化追溯适用于一些烦恼的顾客。</blockquote></p><p>Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.</p><p><blockquote>马斯克在 2021 年第一季度看涨期权上表示，他的目标是让拥有太阳能屋顶和特斯拉电池的家庭成为 “巨型分布式公用事业公司”，随着需求和极端天气事件的增加，帮助现有电力公司为客户提供所需的所有电力。</blockquote></p><p></p><p>Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.</p><p><blockquote>高管们没有透露他们将如何改变供应商电池的生产或组合，以便在 2021 年生产更多的汽车和储能产品。</blockquote></p><p>Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.</p><p><blockquote>马斯克说，该公司自主研发并在加州弗里蒙特的一个试点工厂生产的 4680 电池还不够可靠，无法在特斯拉汽车上运输。他说，特斯拉可能会在 12 到 18 个月内 “实现这些电池的量产 ”。</blockquote></p><p>The company revealed in February it purchased&nbsp;$1.5 billion in bitcoin&nbsp;and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.</p><p><blockquote>该公司在2月份透露，它在比特币购买了15亿美元，未来可能会投资其他加密货币。到四月份，比特币升至创纪录水平，然后回落。特斯拉在现金流量表中透露，该公司在本季度出售了价值 2.72 亿美元的 “数字资产”，大概是比特币。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190086074","content_text":"KEY POINTSTesla reported record net income of $438 million during the quarter, as well as earnings of 93 cents per share on $10.39 billion in revenue.In its earnings release, the company said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.”On an earnings call, CEO Elon Musk said the delayed new version of the company’s Model S sedan will be delivered starting in May 2021, and Model X deliveries will begin in the third quarter of the year.Tesla reported first-quarter results after the bell on Monday. The company beat expectations handily, buoyed by sales of bitcoin and regulatory credits, but the stock dipped as much as 2.5% after hours as investors digested the numbers.Here’s how the company fared in the quarter, compared with analyst estimates compiled by Refinitiv:Earnings:93 cents per share vs. 79 cents per share expectedRevenue:$10.39 billion vs. $10.29 billion expected, up 74% from a year agoNet profit reached a quarterly record of $438 million on a GAAP basis, and the company recorded $518 million in revenue from sales of regulatory credits during the period. It also recorded a $101 million positive impact from sales of bitcoin during the quarter.CEO Elon Musk’s electric vehicle business reported in the first quarter vehicle deliveries of 184,800 Model 3 and Model Y cars, beating expectations and setting a record for Tesla. However, the company also said it produced none of its higher-end Model S sedans or Model X SUVs for the period ending March. It delivered2,020 older Model S sedans and Model X SUVs from inventory.On Monday’s earnings call, Musk said the new version of the company’s Model S sedans will finally be delivered to customers starting in May 2021, with Model X deliveries to begin in the third quarter of the year. Musk and CFO Zachary Kirkhorn both said supply chain issues are likely to remain a challenge for Tesla this year.In January 2021 (during a fourth-quarter 2020 earnings update) Musk had said that the Model S Plaid was already in production would be delivered starting in February 2021. But he admitted on Monday, “There were more challenges than expected,” in producing the refreshed version of these vehicles. He did not elaborate.Tesla is now aiming to produce 2,000 Model S and X vehicles per week later this year.The company said Monday it expects more than 50% vehicle delivery growth in 2021 overall, which implies minimum deliveries around 750,000 vehicles this year.The fact Tesla grew vehicle unit sales by more than 100% year over year but grew service centers by only 28% and its mobile service fleet by only 22% explains why some Tesla customers face frustratingly long wait times for repairs. Service expansion is not keeping pace with the volume of vehicles sold.Tesla said it has weathered chip shortages that have plagued the auto industry in part by “pivoting extremely quickly to new microcontrollers, while simultaneously developing firmware for new chips made by new suppliers.” It did not disclose the names of its new suppliers.It also reiterated Musk’s frequent claim that cameras, not radar, are a better path toward autonomous vehicles. “Our AI-based software architecture has been increasingly reliant on cameras, to the point where radar is becoming unnecessary earlier than expected. As a result, our FSD [Full Self-Driving] team is fully focused on evolving to a vision-based autonomous system and we are nearly ready to switch the US market to Tesla Vision,” the company said in its earnings release.Revenue for its energy generation and storage business nearly doubled for Tesla versus the same period in 2020, when Musk said Covid, then an emerging pandemic, had slowed its energy business to a crawl. But energy revenue declined from $787 million in the fourth quarter to $595 million in the first quarter of 2021.Recently, Tesla increased prices for its solar rooftops by 50%, and now requires anyone ordering solar photovoltaics (including Tesla solar roof tiles) to also order the Powerwall, Tesla’s home energy storage system. The sudden price change applied retroactively to some vexed customers.Musk said on the Q1 2021 call that he is aiming for homes with solar rooftops and batteries from Tesla to function as a “giant distributed utility” that can help incumbent electrical utilities supply customers with all the electricity they need as demand and extreme weather events increase.Executives did not say how they would change their production or mix of battery cells from suppliers in order to make a higher volume of vehicles and energy storage products in 2021.Musk said the company’s 4680 cells, which it developed independently and makes at a pilot plant in Fremont, California, are not yet reliable enough to be shipped in Tesla vehicles. He said Tesla would probably “achieve volume production” of these cells in 12 to 18 months.The company revealed in February it purchased $1.5 billion in bitcoin and would potentially invest in other cryptocurrencies in the future. By April, bitcoin rose to record levels before pulling back. In its statement of cash flows, Tesla revealed that it had sold $272 million worth of “digital assets,” presumably bitcoin, during the quarter.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":790,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372794906,"gmtCreate":1619240232205,"gmtModify":1634287493912,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576217643343722","idStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment thx","listText":"Like and comment thx","text":"Like and comment thx","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/372794906","repostId":"1166519043","repostType":4,"isVote":1,"tweetType":1,"viewCount":653,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378820071,"gmtCreate":1619016428493,"gmtModify":1634289185470,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576217643343722","idStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment thx","listText":"Like and comment thx","text":"Like and comment thx","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/378820071","repostId":"2129829074","repostType":4,"isVote":1,"tweetType":1,"viewCount":641,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371600508,"gmtCreate":1618929107604,"gmtModify":1634289811887,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576217643343722","idStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/371600508","repostId":"1121126533","repostType":4,"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":367944021,"gmtCreate":1614906598363,"gmtModify":1703482777970,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/C6L.SI\">$SINGAPORE AIRLINES LTD(C6L.SI)$</a>Dangerous time to be in, waiting to get in around 4+ now","listText":"<a href=\"https://laohu8.com/S/C6L.SI\">$SINGAPORE AIRLINES LTD(C6L.SI)$</a>Dangerous time to be in, waiting to get in around 4+ now","text":"$SINGAPORE AIRLINES LTD(C6L.SI)$Dangerous time to be in, waiting to get in around 4+ now","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":7,"repostSize":0,"link":"https://laohu8.com/post/367944021","isVote":1,"tweetType":1,"viewCount":1685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340104677,"gmtCreate":1617350034299,"gmtModify":1634521281497,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/340104677","repostId":"1153520775","repostType":4,"repost":{"id":"1153520775","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga Earnings","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1617348406,"share":"https://www.laohunote.com/m/news/1153520775?lang=zh_CN&edition=full","pubTime":"2021-04-02 15:26","market":"us","language":"en","title":"Alibaba's Stock Is Entering Make It Or Break It Time<blockquote>阿里巴巴的股票正进入成败时刻</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1153520775","media":"Benzinga Earnings","summary":"Alibaba Group Holding Ltd.(NYSE:BABA) shares were trending Thursday. The stock looks to be nearing t","content":"<p><b>Alibaba Group Holding Ltd.</b>(NYSE:BABA) shares were trending Thursday. The stock looks to be nearing the support level and looking to test it soon. Below is a technical analysis on the chart.</p><p><blockquote><b>阿里巴巴-SW集团控股有限公司</b>（纽约证券交易所股票代码：BABA）股价周四走势。该股看起来正在接近支撑位，并希望很快测试它。下面是图表上的技术分析。</blockquote></p><p> Alibaba closed down 1.05% at $224.36.</p><p><blockquote>阿里巴巴-SW收盘下跌 1.05%，至 224.36 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4422b75469a63ae122dd3d79828e52ae\" tg-width=\"1322\" tg-height=\"728\"><b>Alibaba Daily Chart Analysis:</b>Alibaba looks to be forming what technical traders may call a “descending triangle” pattern.</p><p><blockquote><b>阿里巴巴-SW日线图分析：</b>阿里巴巴-SW似乎正在形成一个 “下降三角形 ”形态，技术交易员可能会看涨期权。</blockquote></p><p> Connecting the highs of the chart together with a line shows that the highs are getting lower observable by the negative slope of the line.</p><p><blockquote>将图表上的高点与一条线连接起来，可以通过该线的负斜率观察到高点变得更低。</blockquote></p><p> These highs are condensing the price between a flat bottom near $220. The stock has found support near the $220 level multiple times in the past and may again in the future.</p><p><blockquote>这些高点将价格压缩在 220 美元附近的平底之间。该股过去曾多次在 220 美元附近找到支撑，未来可能会再次找到支撑。</blockquote></p><p> The stock is&nbsp;trading below the 200-day moving average (blue), possibly indicating sentiment in the stock is bearish. This indicator may hold as a resistance level sometime in the future.</p><p><blockquote>该股交易价格低于 200 日移动平均线（蓝色），可能表明该股情绪看跌。该指标可能会在未来某个时候成为阻力位。</blockquote></p><p> <b>What’s Next:</b>Bullish technical traders would like to see the stock bounce near the $220 level. Following a bounce, bullish traders would like to see the stock cross above the line that connects the highs.</p><p><blockquote><b>下一步是什么：</b>看涨的技术交易者希望看到该股在 220 美元水平附近反弹。反弹后，看涨交易者希望看到股票穿过连接高点的线。</blockquote></p><p> If the stock were to be able to cross above the line that connects the highs, it may indicate&nbsp;the trend&nbsp;is changing from bearish to bullish.</p><p><blockquote>如果股票能够穿过连接高点的线，这可能表明趋势正在从看跌转为看涨。</blockquote></p><p> Bearish traders would like to continue to see the stock hover near the $220 area. If the stock is able to fall below this level and have a period of consolidation, it may see a stronger push downwards in the future.</p><p><blockquote>看跌交易者希望继续看到该股在 220 美元区域附近徘徊。如果该股能够跌破这一水平并经历一段时间的盘整，未来可能会出现更强劲的下行压力。</blockquote></p><p> The stock pushing below the $220 support level may confirm the bearish descending triangle pattern. Although the term bearish is in the name of the pattern, it may not act accordingly.</p><p><blockquote>该股跌破 220 美元支撑位可能会确认看跌下降三角形模式。尽管看跌一词是在模式的名称中，但它可能不会相应地发挥作用。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba's Stock Is Entering Make It Or Break It Time<blockquote>阿里巴巴的股票正进入成败时刻</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\">\nAlibaba's Stock Is Entering Make It Or Break It Time<blockquote>阿里巴巴的股票正进入成败时刻</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga Earnings </p>\n<p class=\"h-time smaller\">2021-04-02 15:26</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p><b>Alibaba Group Holding Ltd.</b>(NYSE:BABA) shares were trending Thursday. The stock looks to be nearing the support level and looking to test it soon. Below is a technical analysis on the chart.</p><p><blockquote><b>阿里巴巴-SW集团控股有限公司</b>（纽约证券交易所股票代码：BABA）股价周四走势。该股看起来正在接近支撑位，并希望很快测试它。下面是图表上的技术分析。</blockquote></p><p> Alibaba closed down 1.05% at $224.36.</p><p><blockquote>阿里巴巴-SW收盘下跌 1.05%，至 224.36 美元。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/4422b75469a63ae122dd3d79828e52ae\" tg-width=\"1322\" tg-height=\"728\"><b>Alibaba Daily Chart Analysis:</b>Alibaba looks to be forming what technical traders may call a “descending triangle” pattern.</p><p><blockquote><b>阿里巴巴-SW日线图分析：</b>阿里巴巴-SW似乎正在形成一个 “下降三角形 ”形态，技术交易员可能会看涨期权。</blockquote></p><p> Connecting the highs of the chart together with a line shows that the highs are getting lower observable by the negative slope of the line.</p><p><blockquote>将图表上的高点与一条线连接起来，可以通过该线的负斜率观察到高点变得更低。</blockquote></p><p> These highs are condensing the price between a flat bottom near $220. The stock has found support near the $220 level multiple times in the past and may again in the future.</p><p><blockquote>这些高点将价格压缩在 220 美元附近的平底之间。该股过去曾多次在 220 美元附近找到支撑，未来可能会再次找到支撑。</blockquote></p><p> The stock is&nbsp;trading below the 200-day moving average (blue), possibly indicating sentiment in the stock is bearish. This indicator may hold as a resistance level sometime in the future.</p><p><blockquote>该股交易价格低于 200 日移动平均线（蓝色），可能表明该股情绪看跌。该指标可能会在未来某个时候成为阻力位。</blockquote></p><p> <b>What’s Next:</b>Bullish technical traders would like to see the stock bounce near the $220 level. Following a bounce, bullish traders would like to see the stock cross above the line that connects the highs.</p><p><blockquote><b>下一步是什么：</b>看涨的技术交易者希望看到该股在 220 美元水平附近反弹。反弹后，看涨交易者希望看到股票穿过连接高点的线。</blockquote></p><p> If the stock were to be able to cross above the line that connects the highs, it may indicate&nbsp;the trend&nbsp;is changing from bearish to bullish.</p><p><blockquote>如果股票能够穿过连接高点的线，这可能表明趋势正在从看跌转为看涨。</blockquote></p><p> Bearish traders would like to continue to see the stock hover near the $220 area. If the stock is able to fall below this level and have a period of consolidation, it may see a stronger push downwards in the future.</p><p><blockquote>看跌交易者希望继续看到该股在 220 美元区域附近徘徊。如果该股能够跌破这一水平并经历一段时间的盘整，未来可能会出现更强劲的下行压力。</blockquote></p><p> The stock pushing below the $220 support level may confirm the bearish descending triangle pattern. Although the term bearish is in the name of the pattern, it may not act accordingly.</p><p><blockquote>该股跌破 220 美元支撑位可能会确认看跌下降三角形模式。尽管看跌一词是在模式的名称中，但它可能不会相应地发挥作用。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153520775","content_text":"Alibaba Group Holding Ltd.(NYSE:BABA) shares were trending Thursday. The stock looks to be nearing the support level and looking to test it soon. Below is a technical analysis on the chart.\nAlibaba closed down 1.05% at $224.36.\nAlibaba Daily Chart Analysis:Alibaba looks to be forming what technical traders may call a “descending triangle” pattern.\nConnecting the highs of the chart together with a line shows that the highs are getting lower observable by the negative slope of the line.\nThese highs are condensing the price between a flat bottom near $220. The stock has found support near the $220 level multiple times in the past and may again in the future.\nThe stock is trading below the 200-day moving average (blue), possibly indicating sentiment in the stock is bearish. This indicator may hold as a resistance level sometime in the future.\nWhat’s Next:Bullish technical traders would like to see the stock bounce near the $220 level. Following a bounce, bullish traders would like to see the stock cross above the line that connects the highs.\nIf the stock were to be able to cross above the line that connects the highs, it may indicate the trend is changing from bearish to bullish.\nBearish traders would like to continue to see the stock hover near the $220 area. If the stock is able to fall below this level and have a period of consolidation, it may see a stronger push downwards in the future.\nThe stock pushing below the $220 support level may confirm the bearish descending triangle pattern. Although the term bearish is in the name of the pattern, it may not act accordingly.","news_type":1,"symbols_score_info":{"09988":0.9,"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":506,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358345932,"gmtCreate":1616667107726,"gmtModify":1634524661247,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Would appreciate like and comment","listText":"Would appreciate like and comment","text":"Would appreciate like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/358345932","repostId":"1100396556","repostType":4,"repost":{"id":"1100396556","kind":"news","pubTimestamp":1616666319,"share":"https://www.laohunote.com/m/news/1100396556?lang=zh_CN&edition=full","pubTime":"2021-03-25 17:58","market":"us","language":"en","title":"Why AMC Entertainment was Falling 15% Wednesday<blockquote>为什么AMC院线周三下跌 15%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1100396556","media":"Motley Fool","summary":"It hasn't been a good week for the theater chain operator.What happenedShares of AMC Entertainment H","content":"<p>It hasn't been a good week for the theater chain operator.</p><p><blockquote>对于连锁影院运营商来说，这不是一个好的一周。</blockquote></p><p><b>What happened</b></p><p><blockquote><b>发生了什么事</b></blockquote></p><p>Shares of&nbsp;<b>AMC Entertainment Holdings</b>&nbsp;(NYSE:AMC)&nbsp;were down over 15% on Wednesday, continuing the plunge it took yesterday following&nbsp;<b>Walt Disney</b>'s&nbsp;(NYSE:DIS)&nbsp;announcement that two of its most anticipated movies would be&nbsp;released simultaneously&nbsp;to theaters and the Disney+ streaming service.</p><p><blockquote>股份<b>AMC院线控股</b>（纽约证券交易所股票代码：AMC）周三下跌超过 15%，延续了昨天的暴跌<b>华特·迪士尼</b>（纽约证券交易所股票代码：DIS）宣布，其两部最受期待的电影将同时在影院和迪士尼+流媒体服务上发布。</blockquote></p><p><b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p>AMC and other cinema chains have been waiting for movie studios to&nbsp;begin releasing their films&nbsp;to theaters so they could begin&nbsp;gettingmovie&nbsp;goers back&nbsp;in front of the big screen. Releasing films to streaming services at the same time they're showing in theaters undercuts the ability of theaters to recover quickly.</p><p><blockquote>AMC和其他连锁影院一直在等待电影制片厂开始在影院上映他们的电影，这样他们就可以开始让电影观众回到大银幕前。在影院放映的同时向流媒体服务发行电影会削弱影院快速恢复的能力。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0080bb7f2145a803f330e24b1c675601\" tg-width=\"2000\" tg-height=\"1333\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p>Yet many studios need to support in-house streaming services, so releasing first-run films to them helps juice subscriber numbers. Earlier this month Disney+ surpassed the 100-million-subscriber threshold, but it can't afford to relent now.</p><p><blockquote>然而，许多工作室需要支持内部流媒体服务，因此向他们发布首映电影有助于增加订户数量。本月早些时候，迪士尼+突破了1亿用户的门槛，但现在它不能松懈。</blockquote></p><p>Not only is there more competition, but Disney also rankled many with its controversial firing of actress Gina Carano from its hit show<i>The Mandalorian</i>, arguably the only certifiable hit Disney+ has had.</p><p><blockquote>不仅竞争更加激烈，迪士尼还因争议解雇女演员吉娜·卡拉诺而激怒了许多人<i>曼达洛人</i>，可以说是迪士尼+唯一一个可以证明的成功。</blockquote></p><p>By releasing both the Marvel Comics spinoff<i>Black Widow</i>and the live-action<i>101 Dalmatians</i>remake<i>Cruella</i>&nbsp;to Disney+, it may mitigate the #CancelDisney hashtag that was trending on social media.</p><p><blockquote>通过发布漫威漫画衍生作品<i>黑寡妇</i>和真人表演<i>101只斑点狗</i>翻拍<i>库埃拉</i>对于Disney+来说，它可能会减轻社交媒体上流行的#CancelDisney标签。</blockquote></p><p><b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p>AMC has sufficient capital now to survive into 2022, but that's predicated on theaters having a window of exclusivity for films. While Warner Bros. just gave Regal theaters a&nbsp;guarantee of 45 days&nbsp;in 2022, its slate of films this year will also see simultaneous releases. That could be a problem.</p><p><blockquote>AMC 现在有足够的资本生存到 2022 年，但这取决于影院是否有电影独家发行窗口。虽然华纳兄弟公司刚刚向富豪影院提供了2022年45天的保证，但其今年的电影名单也将同时上映。这可能是个问题。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why AMC Entertainment was Falling 15% Wednesday<blockquote>为什么AMC院线周三下跌 15%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy AMC Entertainment was Falling 15% Wednesday<blockquote>为什么AMC院线周三下跌 15%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-03-25 17:58</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It hasn't been a good week for the theater chain operator.</p><p><blockquote>对于连锁影院运营商来说，这不是一个好的一周。</blockquote></p><p><b>What happened</b></p><p><blockquote><b>发生了什么事</b></blockquote></p><p>Shares of&nbsp;<b>AMC Entertainment Holdings</b>&nbsp;(NYSE:AMC)&nbsp;were down over 15% on Wednesday, continuing the plunge it took yesterday following&nbsp;<b>Walt Disney</b>'s&nbsp;(NYSE:DIS)&nbsp;announcement that two of its most anticipated movies would be&nbsp;released simultaneously&nbsp;to theaters and the Disney+ streaming service.</p><p><blockquote>股份<b>AMC院线控股</b>（纽约证券交易所股票代码：AMC）周三下跌超过 15%，延续了昨天的暴跌<b>华特·迪士尼</b>（纽约证券交易所股票代码：DIS）宣布，其两部最受期待的电影将同时在影院和迪士尼+流媒体服务上发布。</blockquote></p><p><b>So what</b></p><p><blockquote><b>那又怎样</b></blockquote></p><p>AMC and other cinema chains have been waiting for movie studios to&nbsp;begin releasing their films&nbsp;to theaters so they could begin&nbsp;gettingmovie&nbsp;goers back&nbsp;in front of the big screen. Releasing films to streaming services at the same time they're showing in theaters undercuts the ability of theaters to recover quickly.</p><p><blockquote>AMC和其他连锁影院一直在等待电影制片厂开始在影院上映他们的电影，这样他们就可以开始让电影观众回到大银幕前。在影院放映的同时向流媒体服务发行电影会削弱影院快速恢复的能力。</blockquote></p><p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0080bb7f2145a803f330e24b1c675601\" tg-width=\"2000\" tg-height=\"1333\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p>Yet many studios need to support in-house streaming services, so releasing first-run films to them helps juice subscriber numbers. Earlier this month Disney+ surpassed the 100-million-subscriber threshold, but it can't afford to relent now.</p><p><blockquote>然而，许多工作室需要支持内部流媒体服务，因此向他们发布首映电影有助于增加订户数量。本月早些时候，迪士尼+突破了1亿用户的门槛，但现在它不能松懈。</blockquote></p><p>Not only is there more competition, but Disney also rankled many with its controversial firing of actress Gina Carano from its hit show<i>The Mandalorian</i>, arguably the only certifiable hit Disney+ has had.</p><p><blockquote>不仅竞争更加激烈，迪士尼还因争议解雇女演员吉娜·卡拉诺而激怒了许多人<i>曼达洛人</i>，可以说是迪士尼+唯一一个可以证明的成功。</blockquote></p><p>By releasing both the Marvel Comics spinoff<i>Black Widow</i>and the live-action<i>101 Dalmatians</i>remake<i>Cruella</i>&nbsp;to Disney+, it may mitigate the #CancelDisney hashtag that was trending on social media.</p><p><blockquote>通过发布漫威漫画衍生作品<i>黑寡妇</i>和真人表演<i>101只斑点狗</i>翻拍<i>库埃拉</i>对于Disney+来说，它可能会减轻社交媒体上流行的#CancelDisney标签。</blockquote></p><p><b>Now what</b></p><p><blockquote><b>现在呢</b></blockquote></p><p>AMC has sufficient capital now to survive into 2022, but that's predicated on theaters having a window of exclusivity for films. While Warner Bros. just gave Regal theaters a&nbsp;guarantee of 45 days&nbsp;in 2022, its slate of films this year will also see simultaneous releases. That could be a problem.</p><p><blockquote>AMC 现在有足够的资本生存到 2022 年，但这取决于影院是否有电影独家发行窗口。虽然华纳兄弟公司刚刚向富豪影院提供了2022年45天的保证，但其今年的电影名单也将同时上映。这可能是个问题。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/03/24/why-amc-entertainment-is-falling-5-today/\">Motley Fool</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.fool.com/investing/2021/03/24/why-amc-entertainment-is-falling-5-today/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100396556","content_text":"It hasn't been a good week for the theater chain operator.What happenedShares of AMC Entertainment Holdings (NYSE:AMC) were down over 15% on Wednesday, continuing the plunge it took yesterday following Walt Disney's (NYSE:DIS) announcement that two of its most anticipated movies would be released simultaneously to theaters and the Disney+ streaming service.So whatAMC and other cinema chains have been waiting for movie studios to begin releasing their films to theaters so they could begin gettingmovie goers back in front of the big screen. Releasing films to streaming services at the same time they're showing in theaters undercuts the ability of theaters to recover quickly.IMAGE SOURCE: GETTY IMAGES.Yet many studios need to support in-house streaming services, so releasing first-run films to them helps juice subscriber numbers. Earlier this month Disney+ surpassed the 100-million-subscriber threshold, but it can't afford to relent now.Not only is there more competition, but Disney also rankled many with its controversial firing of actress Gina Carano from its hit showThe Mandalorian, arguably the only certifiable hit Disney+ has had.By releasing both the Marvel Comics spinoffBlack Widowand the live-action101 DalmatiansremakeCruella to Disney+, it may mitigate the #CancelDisney hashtag that was trending on social media.Now whatAMC has sufficient capital now to survive into 2022, but that's predicated on theaters having a window of exclusivity for films. While Warner Bros. just gave Regal theaters a guarantee of 45 days in 2022, its slate of films this year will also see simultaneous releases. That could be a problem.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":662,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":195130956,"gmtCreate":1621261223175,"gmtModify":1634192947934,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/195130956","repostId":"2135984810","repostType":4,"isVote":1,"tweetType":1,"viewCount":3969,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":196996312,"gmtCreate":1621003300936,"gmtModify":1634194622138,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment","listText":"Like and comment","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/196996312","repostId":"2135710626","repostType":4,"isVote":1,"tweetType":1,"viewCount":820,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183600210,"gmtCreate":1623325765330,"gmtModify":1634034577465,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment thx&nbsp;","listText":"Like and comment thx&nbsp;","text":"Like and comment thx","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/183600210","repostId":"1128810191","repostType":4,"isVote":1,"tweetType":1,"viewCount":3020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373948241,"gmtCreate":1618816357283,"gmtModify":1634290719416,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Would appreciate like and comment&nbsp;","listText":"Would appreciate like and comment&nbsp;","text":"Would appreciate like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/373948241","repostId":"2128525488","repostType":4,"isVote":1,"tweetType":1,"viewCount":635,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370282067,"gmtCreate":1618586957859,"gmtModify":1634291892033,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Would appreciate like and comment&nbsp;","listText":"Would appreciate like and comment&nbsp;","text":"Would appreciate like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/370282067","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohunote.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440 亿美元的期权今天到期：以下是将会发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><blockquote>虽然今天不是四倍（甚至三倍）魔法日，但今天有很多每周期权将到期，其中五个将毫无价值，而其他期权将为基础价格提供支撑“大头针”。这就是为什么，尽管我们正在享受一个美丽的春季周，但高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4 月份每日期权交易量较 3 月 30 日年初以来 24 亿美元的低点增长了 70%。</blockquote></p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p><blockquote><b>总共有 5,440 亿美元的单只股票期权将于今天到期，其中包括 3,050 亿美元的评级。</b>因此，今天的到期日对于持有大量现值（ATM）期权未平仓合约的股票来说可能非常重要，因为做市商将积极对冲其异常庞大的期权投资组合。这种流动可能会抑制某些股票的波动性，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p><blockquote>正如高盛的 Vishal Vivek 所写，在重大到期日，期权交易者会跟踪以下情况：<b>大量未平仓合约将到期。</b>在平价行权（行权价格等于或非常接近当前股价）中有大量到期未平仓合约的情况下，三角洲对冲活动可能会影响标的股票当天的交易。如果做市商或其他对冲其头寸的期权交易者是净多头 ATM 期权，则与到期相关的流动可能会产生抑制股价变动的效果，导致股价以大量未平仓合约结算在罢工点附近。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大投资者来说，这是一种理想的情况。或者，如果delta-hedgers是净空头ATM期权（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p><blockquote>这意味着与到期相关的交易可能会导致拥有大量 ATM 未平仓合约的股票的交易活动大幅回升。</blockquote></p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><blockquote>因此，为了帮助希望抓住日内交易机会的交易者，这里有一个表格，确定了今天到期的大量 ATM 未平仓合约的可能重点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约在股票成交量中占很大比例，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p><blockquote>最后，值得一提的是，今天早上我们在 SpotGamma 的朋友们写道，这是一个相当奇怪的运营支出周期，“持续的、近乎机械的出价推动市场走高。我们以前从未见过看涨期权墙像这样 “突破 ”过很多次，但我们在之前的笔记中提到过其他异常现象，比如净看跌期权销售。我们对此有一些理论，并将在一篇较长的文章中发布”。</blockquote></p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><blockquote>根据SG的说法，由于隐含波动性现在已经被压缩（即VIX在新低），现在有更大的潜力出现“长期”波动性。回想一下，最近市场的任何急剧、剧烈下跌是如何被如此迅速地买入的（见下图）。<b>这些突破下跌与创纪录的 VIX 峰值同时发生，但反思性的snap回购将带来与 VIX（即隐含波动率）逆转同等强度的市场复苏。</b></blockquote></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><p><blockquote>SpotGamma 的另一个奇怪观察结果：</blockquote></p><p>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p><p><blockquote>当隐含波动性非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或触及支撑位，隐含的波动性就会迅速回落。<b>我们经常想到这个类比，如果鲨鱼停止游泳，它就会下沉（部分正确!）.如果市场停止下跌，那么隐含的波动性就会下降。</b>因此，正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购推动反弹的空头对冲。SG 的结论： 目前较低的隐含波动率水平为市场提供了更多的下行火力。从较低的隐含波动率开始，“减缓”了这种反应灵敏的 “snap回调 ”买入机制。此外，当 IV 较低时，伽马值较高，因此伽马翻转可能会有更多的作用。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1,"symbols_score_info":{".DJI":0.9,"SPY":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":416,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341640161,"gmtCreate":1617811013053,"gmtModify":1634296357812,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Would appreciate like and comment&nbsp;","listText":"Would appreciate like and comment&nbsp;","text":"Would appreciate like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/341640161","repostId":"2125872814","repostType":4,"isVote":1,"tweetType":1,"viewCount":308,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371600508,"gmtCreate":1618929107604,"gmtModify":1634289811887,"author":{"id":"3576217643343722","authorId":"3576217643343722","name":"Derrickcdh","avatar":"https://static.tigerbbs.com/953051dab1230cfb9068f2121aa72fc1","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3576217643343722","authorIdStr":"3576217643343722"},"themes":[],"title":"","htmlText":"Like and comment&nbsp;","listText":"Like and comment&nbsp;","text":"Like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/371600508","repostId":"1121126533","repostType":4,"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}