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Canokira

Canokira

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2021-07-13

njce

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2021-07-09

like and share

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2021-07-09

nice

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2021-07-03

this is a very strong one

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2021-07-01

like

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2021-06-29

it will continue to fly

Palantir: The Mass Exodus<blockquote>Palantir：大规模外流</blockquote>

2021-06-28

Nice

The Stock Market Hasn’t Been This Placid in Years<blockquote>股市多年来从未如此平静过</blockquote>

2021-06-26

nice!!!!

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2021-06-24

nice

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2021-06-21

nice

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2021-06-18

$AMC Entertainment(AMC)$ after $65, it will be $75. Hold

2021-06-18

yes!!!! i love this stock. its going to fly

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2021-06-18

nice

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2021-06-16

comment and like pls

Nio ET7 Will Be Equipped With 'High-Performance' LiDAR, Says Supplier<blockquote>供应商称蔚来ET7将配备“高性能”激光雷达</blockquote>

2021-06-16

nice

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2021-06-15

i have some, but not buying more

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2021-06-14

like pls

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2021-06-13

good money

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2021-06-11

[开心]

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2021-06-11

nice

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share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141906600","repostId":"2150716443","repostType":4,"isVote":1,"tweetType":1,"viewCount":2911,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141901554,"gmtCreate":1625829726878,"gmtModify":1633936927324,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141901554","repostId":"1161133836","repostType":2,"isVote":1,"tweetType":1,"viewCount":3020,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152941123,"gmtCreate":1625266740762,"gmtModify":1631883984710,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"this is a very strong one","listText":"this is a very strong one","text":"this is a very strong one","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/152941123","repostId":"1133195819","repostType":4,"isVote":1,"tweetType":1,"viewCount":2888,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":158811018,"gmtCreate":1625143153834,"gmtModify":1633944339768,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"like&nbsp;","listText":"like&nbsp;","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/158811018","repostId":"1175262828","repostType":4,"isVote":1,"tweetType":1,"viewCount":1183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":150597344,"gmtCreate":1624920542888,"gmtModify":1633947143929,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"it will continue to fly","listText":"it will continue to fly","text":"it will continue to fly","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/150597344","repostId":"1105982179","repostType":4,"repost":{"id":"1105982179","kind":"news","pubTimestamp":1624889210,"share":"https://www.laohu8.com/m/news/1105982179?lang=zh_CN&edition=full","pubTime":"2021-06-28 22:06","market":"us","language":"en","title":"Palantir: The Mass Exodus<blockquote>Palantir：大规模外流</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105982179","media":"seekingalpha","summary":"Summary\n\nShort interest in Palantir dropped by 23.8% in the latest cycle.\nEven though Palantir conti","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Short interest in Palantir dropped by 23.8% in the latest cycle.</li>  <li>Even though Palantir continues to be surrounded by bearish narratives, market participants don't seem to be comfortable with shorting the stock.</li>  <li>The stock could rally further.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16279727ada0c46eb4d43744da02d1cc\" tg-width=\"768\" tg-height=\"512\"><span>Michael Vi/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>Palantir的空头兴趣在最新周期中下降了23.8%。</li><li>尽管Palantir继续被看跌言论所包围，但市场参与者似乎并不愿意做空该股。</li><li>该股可能会进一步上涨。</li></ul><p class=\"t-img-caption\"><span>Michael Vi/iStock社论来自Getty Images</span></p></blockquote></p><p> Palantir's (PLTR) shares are up 20% in the last month alone but the rally could still continue. Latest data reveals that short interest in Palantir declined by 23.8% in the latest cycle alone. This suggests that a broad swath of market participants isn't buying into the bearish narratives surrounding the company, perceive its stock to be fairly valued and perhaps even anticipate it to rally going forward. This development should come across as an encouraging sign for the company's long-side investors. Let's take a closer look at it all.</p><p><blockquote>Palantir(PLTR)的股价仅上个月就上涨了20%，但涨势仍可能持续。最新数据显示，仅在最近一个周期中，Palantir的空头兴趣就下降了23.8%。这表明，广大市场参与者并不相信围绕该公司的看跌言论，认为其股票估值合理，甚至可能预计其未来会上涨。对于该公司的多头投资者来说，这一进展应该是一个令人鼓舞的迹象。让我们仔细看看这一切。</blockquote></p><p> <b>The Data</b></p><p><blockquote><b>数据</b></blockquote></p><p> I'd like to start by explaining the term \"short interest\" for the uninitiated. It's essentially the total number of short positions that are open against any given stock. A sharp rise in the metric indicates that traders grew bearish on the concerned company, and actively initiated short positions against it. Conversely, a sharp decline in the metric indicates that traders actively wound up their short positions either perhaps because they anticipate the stock to bottom out and/or rally going forward. So, the short interest is a useful tool to gauge the Street's ever-evolving market sentiment.</p><p><blockquote>我想首先为门外汉解释一下“空头利息”这个术语。它本质上是针对任何给定股票的空头头寸的总数。该指标的急剧上升表明交易者对相关公司变得看跌，并积极建立针对该公司的空头头寸。相反，该指标的急剧下降表明交易者积极平仓空头头寸，可能是因为他们预计股票将触底和/或未来反弹。因此，空头利息是衡量华尔街不断变化的市场情绪的有用工具。</blockquote></p><p> In Palantir's case, its short interest at the end of the latest data cycle stood at 52.3 million, sharply down by 23.8% on a sequential basis. Although Palantir's short interest figure isn't at its all-time low yet, the pace of its recent decline, however, is certainly one of the fastest in the company's brief history since its direct listing last year. For the record, Palantir has over 1.8 billion shares outstanding which means that about 2.8% of its entire share total had been shorted. Also, the short interest data is for the cycle spanning from early June to mid-June, and the data wasreleasedon Thursday.</p><p><blockquote>以Palantir为例，在最新数据周期结束时，其空头利息为5230万，环比大幅下降23.8%。尽管Palantir的空头利息数字尚未达到历史低点，但其最近的下降速度无疑是该公司自去年直接上市以来短暂历史上最快的下降速度之一。根据记录，Palantir拥有超过18亿股已发行股票，这意味着其全部股票总数的约2.8%已被做空。此外，空头利息数据适用于6月初至6月中旬的周期，该数据于周四发布。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95e4623fda1d9079a2699b57d4ee0f42\" tg-width=\"637\" tg-height=\"450\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Next, I wanted to confirm if other software application companies also registered a sharp reduction in their short interest figures, or was Palantir an anomaly in its peer group. So, to get a broader perspective on its industry, I pulled the short interest figures for about 100 software application stocks listed in the US. Interestingly, 55% of these stocks registered a net reduction in their short interest figures, of varying magnitudes of course, which points to an industry-wide short unwinding.</p><p><blockquote>接下来，我想确认其他软件应用公司的空头利息数字是否也大幅下降，或者Palantir是否是同行中的异常现象。因此，为了更广泛地了解其行业，我提取了大约100只在美国上市的软件应用股票的空头利息数据。有趣的是，这些股票中有55%的空头利息数字出现净减少，当然幅度各不相同，这表明全行业的空头平仓。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/091feec9aa17f821d01f34a7b46bb2bb\" tg-width=\"610\" tg-height=\"506\"><span>(Source: BusinessQuant.com, Wsj.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com、Wsj.com）</span></p></blockquote></p><p> Moreover, the median short interest decline was 1.9%, whereas Palantir's short interest declined by a far more significant 23.8% during the same data cycle. In fact, there were just 6 other stocks in our study group, which saw their short interest decline in excess of 23.8%. This conclusively shows that market participants were far too active with unwinding their short positions in Palantir.</p><p><blockquote>此外，空头利息下降中位数为1.9%，而Palantir的空头利息在同一数据周期内下降幅度要大得多，为23.8%。事实上，我们的研究小组中只有其他6只股票的空头利息下降超过23.8%。这最终表明市场参与者在平仓Palantir空头头寸方面过于积极。</blockquote></p><p> But this leads us to an important question - why are market participants so cautious with shorting Palantir in the first place?</p><p><blockquote>但这给我们带来了一个重要的问题——为什么市场参与者首先对做空Palantir如此谨慎？</blockquote></p><p> <b>Cautious for Good Reason</b></p><p><blockquote><b>谨慎是有充分理由的</b></blockquote></p><p> As I've explained in my prior articles, Palantir has several initiatives at play which could collectively catapult its growth in 2021-22. These initiatives include itstransitionto a customer-friendly payment model to boost commercial sales, offeringfree trialsto major companies to expand its sales funnel and expanding itssales teamto revamp its outbound marketing function. We won't be discussing the same points again to avoid being repetitive, but the takeaway here is that since Palantir is undertaking several growth initiatives, it makes for a risky short bet for the time being at least.</p><p><blockquote>正如我在之前的文章中所解释的，Palantir有几项举措正在发挥作用，这些举措可能会共同推动其在2021-22年的增长。这些举措包括向客户友好的支付模式过渡以促进商业销售、向大公司提供免费试用以扩大其销售渠道以及扩大其销售团队以改造其对外营销职能。为了避免重复，我们不会再次讨论相同的观点，但这里的要点是，由于Palantir正在采取多项增长举措，因此至少目前是一个有风险的空头押注。</blockquote></p><p> But don't take my word for it.</p><p><blockquote>但别相信我的话。</blockquote></p><p> The community of professional analysts is realizing Palantir's growth potential and raising their revenue estimates for its current fiscal year. They've raised their FY21 revenue estimates by about 5% so far since mid-January and there's no telling how many of such upward revenue revisions are still in store for the remainder of Palantir's FY21. This bullish uncertainty presents an unfavorable risk-reward ratio for short-side market participants and explains why short interest in Palantir continues to decline.</p><p><blockquote>专业分析师群体正在认识到Palantir的增长潜力，并提高了本财年的收入预期。自1月中旬以来，他们已将2021财年收入预期上调了约5%，目前尚不清楚Palantir 2021财年剩余时间内仍有多少此类收入上调。这种看涨的不确定性给空头市场参与者带来了不利的风险回报比，并解释了为什么对Palantir的空头兴趣持续下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/74bccdf90ceb880c1a3edddad8743a1e\" tg-width=\"636\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> There's another point to consider here, that nobody seems to be talking about. Palantir has won several COVID-19 tracking-related contracts (such ashere,here,here,hereandhere) over the last 12 - 15 months as government agencies across the globe grappled to control the spread and tried to better manage their resources. With COVID-19 said to be making a fierce comeback with thedelta variant, I contend that Palantir could experience a similar order windfall this year, from proactive government agencies, which could boost the company's government sales along the way.</p><p><blockquote>这里还有一点需要考虑，似乎没有人谈论。随着全球各地的政府机构努力控制传播并试图更好地管理其资源，Palantir在过去12-15个月内赢得了多份与COVID-19跟踪相关的合同（例如here、here、here、here和here）。据说COVID-19将凭借Delta变体卷土重来，我认为Palantir今年可能会从积极主动的政府机构获得类似的订单意外之财，这可能会提高该公司的政府销售额。</blockquote></p><p> Lastly, several commenters argue that Palantir's shares are trading at a premium and are due for a sharp correction. Its shares are trading at about 34-times trailing twelve-month sales so it's understandable why many might think that the stock is overvalued. But I believe the problem with this approach is that we're not factoring in industry-wide trading multiples or Palantir's revenue growth rate, compared to its peers.</p><p><blockquote>最后，一些评论者认为Palantir的股票交易价格溢价，预计将大幅调整。其股价目前约为过去12个月销售额的34倍，因此可以理解为什么许多人可能认为该股被高估。但我认为这种方法的问题在于，与同行相比，我们没有考虑全行业的交易倍数或Palantir的收入增长率。</blockquote></p><p> So, to put things in perspective, I compiled the revenue growth rates and price-to-sales (or P/S) multiples for over 320 software infrastructure and software application stocks that are currently listed on US exchanges. Next, I benchmarked these industry groups based on Palantir's revenue growth rate and its P/S multiple. As it turns out, over 90% of Palantir's peers have a slower revenue growth and/or are trading at higher trading multiples. This suggests that Palantir's higher pace of growth justifies its price premium and that the bearish concerns regarding its valuations, are exaggerated.</p><p><blockquote>因此，为了正确看待事情，我编制了目前在美国交易所上市的320多只软件基础设施和软件应用股票的收入增长率和市销率（或P/S）倍数。接下来，我根据Palantir的收入增长率及其市盈率倍数对这些行业群体进行了基准测试。事实证明，超过90%的Palantir同行收入增长较慢和/或交易倍数较高。这表明Palantir较高的增长速度证明了其溢价的合理性，并且对其估值的看跌担忧被夸大了。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fefb171f61438817b747d6a50fff8133\" tg-width=\"640\" tg-height=\"414\"><span>(Source: Business Quant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：商量网）</span></p></blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> I'd like to point to readers that fluctuations in short interest figures don't always impact the underlying stock prices. This data is based on short positions that were open at a prior cut-off date and investors with a long-term time horizon should, at best, use it to corroborate their bull or bear thesis.</p><p><blockquote>我想向读者指出，空头利息数据的波动并不总是会影响标的股票价格。该数据基于在之前截止日期开立的空头头寸，具有长期视野的投资者充其量应该用它来证实他们的牛市或熊市论点。</blockquote></p><p> Having said that, if the bearish narratives surrounding Palantir held any merit, or posed a legitimate risk to its share price, a broad swath of market participants would've actively shorted the stock to profit off of this near-certain eventuality. But that didn't happen and its short interest declined instead, that too by a significant amount.</p><p><blockquote>话虽如此，如果围绕Palantir的看跌言论有任何价值，或者对其股价构成合理的风险，那么大量市场参与者就会积极做空该股，以从这种几乎确定的可能性中获利。但这种情况并没有发生，其空头兴趣反而下降了，而且下降幅度也很大。</blockquote></p><p> This active short unwinding indicates that market participants are uncomfortable in shorting the stock at current levels. This should come across as a reassuring sign for the company's long-side shareholders. The stock seems to be fairly valued and has the potential to rally further. Good Luck!</p><p><blockquote>这种积极的空头平仓表明市场参与者对在当前水平做空股票感到不舒服。对于公司的多头股东来说，这应该是一个令人放心的信号。该股似乎估值合理，并有进一步上涨的潜力。祝你好运！</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>Palantir: The Mass Exodus<blockquote>Palantir：大规模外流</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\">\nPalantir: The Mass Exodus<blockquote>Palantir：大规模外流</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-28 22:06</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Short interest in Palantir dropped by 23.8% in the latest cycle.</li>  <li>Even though Palantir continues to be surrounded by bearish narratives, market participants don't seem to be comfortable with shorting the stock.</li>  <li>The stock could rally further.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16279727ada0c46eb4d43744da02d1cc\" tg-width=\"768\" tg-height=\"512\"><span>Michael Vi/iStock Editorial via Getty Images</span></p><p><blockquote><ul><li>Palantir的空头兴趣在最新周期中下降了23.8%。</li><li>尽管Palantir继续被看跌言论所包围，但市场参与者似乎并不愿意做空该股。</li><li>该股可能会进一步上涨。</li></ul><p class=\"t-img-caption\"><span>Michael Vi/iStock社论来自Getty Images</span></p></blockquote></p><p> Palantir's (PLTR) shares are up 20% in the last month alone but the rally could still continue. Latest data reveals that short interest in Palantir declined by 23.8% in the latest cycle alone. This suggests that a broad swath of market participants isn't buying into the bearish narratives surrounding the company, perceive its stock to be fairly valued and perhaps even anticipate it to rally going forward. This development should come across as an encouraging sign for the company's long-side investors. Let's take a closer look at it all.</p><p><blockquote>Palantir(PLTR)的股价仅上个月就上涨了20%，但涨势仍可能持续。最新数据显示，仅在最近一个周期中，Palantir的空头兴趣就下降了23.8%。这表明，广大市场参与者并不相信围绕该公司的看跌言论，认为其股票估值合理，甚至可能预计其未来会上涨。对于该公司的多头投资者来说，这一进展应该是一个令人鼓舞的迹象。让我们仔细看看这一切。</blockquote></p><p> <b>The Data</b></p><p><blockquote><b>数据</b></blockquote></p><p> I'd like to start by explaining the term \"short interest\" for the uninitiated. It's essentially the total number of short positions that are open against any given stock. A sharp rise in the metric indicates that traders grew bearish on the concerned company, and actively initiated short positions against it. Conversely, a sharp decline in the metric indicates that traders actively wound up their short positions either perhaps because they anticipate the stock to bottom out and/or rally going forward. So, the short interest is a useful tool to gauge the Street's ever-evolving market sentiment.</p><p><blockquote>我想首先为门外汉解释一下“空头利息”这个术语。它本质上是针对任何给定股票的空头头寸的总数。该指标的急剧上升表明交易者对相关公司变得看跌，并积极建立针对该公司的空头头寸。相反，该指标的急剧下降表明交易者积极平仓空头头寸，可能是因为他们预计股票将触底和/或未来反弹。因此，空头利息是衡量华尔街不断变化的市场情绪的有用工具。</blockquote></p><p> In Palantir's case, its short interest at the end of the latest data cycle stood at 52.3 million, sharply down by 23.8% on a sequential basis. Although Palantir's short interest figure isn't at its all-time low yet, the pace of its recent decline, however, is certainly one of the fastest in the company's brief history since its direct listing last year. For the record, Palantir has over 1.8 billion shares outstanding which means that about 2.8% of its entire share total had been shorted. Also, the short interest data is for the cycle spanning from early June to mid-June, and the data wasreleasedon Thursday.</p><p><blockquote>以Palantir为例，在最新数据周期结束时，其空头利息为5230万，环比大幅下降23.8%。尽管Palantir的空头利息数字尚未达到历史低点，但其最近的下降速度无疑是该公司自去年直接上市以来短暂历史上最快的下降速度之一。根据记录，Palantir拥有超过18亿股已发行股票，这意味着其全部股票总数的约2.8%已被做空。此外，空头利息数据适用于6月初至6月中旬的周期，该数据于周四发布。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95e4623fda1d9079a2699b57d4ee0f42\" tg-width=\"637\" tg-height=\"450\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Next, I wanted to confirm if other software application companies also registered a sharp reduction in their short interest figures, or was Palantir an anomaly in its peer group. So, to get a broader perspective on its industry, I pulled the short interest figures for about 100 software application stocks listed in the US. Interestingly, 55% of these stocks registered a net reduction in their short interest figures, of varying magnitudes of course, which points to an industry-wide short unwinding.</p><p><blockquote>接下来，我想确认其他软件应用公司的空头利息数字是否也大幅下降，或者Palantir是否是同行中的异常现象。因此，为了更广泛地了解其行业，我提取了大约100只在美国上市的软件应用股票的空头利息数据。有趣的是，这些股票中有55%的空头利息数字出现净减少，当然幅度各不相同，这表明全行业的空头平仓。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/091feec9aa17f821d01f34a7b46bb2bb\" tg-width=\"610\" tg-height=\"506\"><span>(Source: BusinessQuant.com, Wsj.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：BusinessQuant.com、Wsj.com）</span></p></blockquote></p><p> Moreover, the median short interest decline was 1.9%, whereas Palantir's short interest declined by a far more significant 23.8% during the same data cycle. In fact, there were just 6 other stocks in our study group, which saw their short interest decline in excess of 23.8%. This conclusively shows that market participants were far too active with unwinding their short positions in Palantir.</p><p><blockquote>此外，空头利息下降中位数为1.9%，而Palantir的空头利息在同一数据周期内下降幅度要大得多，为23.8%。事实上，我们的研究小组中只有其他6只股票的空头利息下降超过23.8%。这最终表明市场参与者在平仓Palantir空头头寸方面过于积极。</blockquote></p><p> But this leads us to an important question - why are market participants so cautious with shorting Palantir in the first place?</p><p><blockquote>但这给我们带来了一个重要的问题——为什么市场参与者首先对做空Palantir如此谨慎？</blockquote></p><p> <b>Cautious for Good Reason</b></p><p><blockquote><b>谨慎是有充分理由的</b></blockquote></p><p> As I've explained in my prior articles, Palantir has several initiatives at play which could collectively catapult its growth in 2021-22. These initiatives include itstransitionto a customer-friendly payment model to boost commercial sales, offeringfree trialsto major companies to expand its sales funnel and expanding itssales teamto revamp its outbound marketing function. We won't be discussing the same points again to avoid being repetitive, but the takeaway here is that since Palantir is undertaking several growth initiatives, it makes for a risky short bet for the time being at least.</p><p><blockquote>正如我在之前的文章中所解释的，Palantir有几项举措正在发挥作用，这些举措可能会共同推动其在2021-22年的增长。这些举措包括向客户友好的支付模式过渡以促进商业销售、向大公司提供免费试用以扩大其销售渠道以及扩大其销售团队以改造其对外营销职能。为了避免重复，我们不会再次讨论相同的观点，但这里的要点是，由于Palantir正在采取多项增长举措，因此至少目前是一个有风险的空头押注。</blockquote></p><p> But don't take my word for it.</p><p><blockquote>但别相信我的话。</blockquote></p><p> The community of professional analysts is realizing Palantir's growth potential and raising their revenue estimates for its current fiscal year. They've raised their FY21 revenue estimates by about 5% so far since mid-January and there's no telling how many of such upward revenue revisions are still in store for the remainder of Palantir's FY21. This bullish uncertainty presents an unfavorable risk-reward ratio for short-side market participants and explains why short interest in Palantir continues to decline.</p><p><blockquote>专业分析师群体正在认识到Palantir的增长潜力，并提高了本财年的收入预期。自1月中旬以来，他们已将2021财年收入预期上调了约5%，目前尚不清楚Palantir 2021财年剩余时间内仍有多少此类收入上调。这种看涨的不确定性给空头市场参与者带来了不利的风险回报比，并解释了为什么对Palantir的空头兴趣持续下降。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/74bccdf90ceb880c1a3edddad8743a1e\" tg-width=\"636\" tg-height=\"419\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p></p><p> There's another point to consider here, that nobody seems to be talking about. Palantir has won several COVID-19 tracking-related contracts (such ashere,here,here,hereandhere) over the last 12 - 15 months as government agencies across the globe grappled to control the spread and tried to better manage their resources. With COVID-19 said to be making a fierce comeback with thedelta variant, I contend that Palantir could experience a similar order windfall this year, from proactive government agencies, which could boost the company's government sales along the way.</p><p><blockquote>这里还有一点需要考虑，似乎没有人谈论。随着全球各地的政府机构努力控制传播并试图更好地管理其资源，Palantir在过去12-15个月内赢得了多份与COVID-19跟踪相关的合同（例如here、here、here、here和here）。据说COVID-19将凭借Delta变体卷土重来，我认为Palantir今年可能会从积极主动的政府机构获得类似的订单意外之财，这可能会提高该公司的政府销售额。</blockquote></p><p> Lastly, several commenters argue that Palantir's shares are trading at a premium and are due for a sharp correction. Its shares are trading at about 34-times trailing twelve-month sales so it's understandable why many might think that the stock is overvalued. But I believe the problem with this approach is that we're not factoring in industry-wide trading multiples or Palantir's revenue growth rate, compared to its peers.</p><p><blockquote>最后，一些评论者认为Palantir的股票交易价格溢价，预计将大幅调整。其股价目前约为过去12个月销售额的34倍，因此可以理解为什么许多人可能认为该股被高估。但我认为这种方法的问题在于，与同行相比，我们没有考虑全行业的交易倍数或Palantir的收入增长率。</blockquote></p><p> So, to put things in perspective, I compiled the revenue growth rates and price-to-sales (or P/S) multiples for over 320 software infrastructure and software application stocks that are currently listed on US exchanges. Next, I benchmarked these industry groups based on Palantir's revenue growth rate and its P/S multiple. As it turns out, over 90% of Palantir's peers have a slower revenue growth and/or are trading at higher trading multiples. This suggests that Palantir's higher pace of growth justifies its price premium and that the bearish concerns regarding its valuations, are exaggerated.</p><p><blockquote>因此，为了正确看待事情，我编制了目前在美国交易所上市的320多只软件基础设施和软件应用股票的收入增长率和市销率（或P/S）倍数。接下来，我根据Palantir的收入增长率及其市盈率倍数对这些行业群体进行了基准测试。事实证明，超过90%的Palantir同行收入增长较慢和/或交易倍数较高。这表明Palantir较高的增长速度证明了其溢价的合理性，并且对其估值的看跌担忧被夸大了。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fefb171f61438817b747d6a50fff8133\" tg-width=\"640\" tg-height=\"414\"><span>(Source: Business Quant.com)</span></p><p><blockquote><p class=\"t-img-caption\"><span>（来源：商量网）</span></p></blockquote></p><p> <b>Final Thoughts</b></p><p><blockquote><b>最后的想法</b></blockquote></p><p> I'd like to point to readers that fluctuations in short interest figures don't always impact the underlying stock prices. This data is based on short positions that were open at a prior cut-off date and investors with a long-term time horizon should, at best, use it to corroborate their bull or bear thesis.</p><p><blockquote>我想向读者指出，空头利息数据的波动并不总是会影响标的股票价格。该数据基于在之前截止日期开立的空头头寸，具有长期视野的投资者充其量应该用它来证实他们的牛市或熊市论点。</blockquote></p><p> Having said that, if the bearish narratives surrounding Palantir held any merit, or posed a legitimate risk to its share price, a broad swath of market participants would've actively shorted the stock to profit off of this near-certain eventuality. But that didn't happen and its short interest declined instead, that too by a significant amount.</p><p><blockquote>话虽如此，如果围绕Palantir的看跌言论有任何价值，或者对其股价构成合理的风险，那么大量市场参与者就会积极做空该股，以从这种几乎确定的可能性中获利。但这种情况并没有发生，其空头兴趣反而下降了，而且下降幅度也很大。</blockquote></p><p> This active short unwinding indicates that market participants are uncomfortable in shorting the stock at current levels. This should come across as a reassuring sign for the company's long-side shareholders. The stock seems to be fairly valued and has the potential to rally further. Good Luck!</p><p><blockquote>这种积极的空头平仓表明市场参与者对在当前水平做空股票感到不舒服。对于公司的多头股东来说，这应该是一个令人放心的信号。该股似乎估值合理，并有进一步上涨的潜力。祝你好运！</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4436907-palantir-the-mass-exodus\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"https://seekingalpha.com/article/4436907-palantir-the-mass-exodus","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105982179","content_text":"Summary\n\nShort interest in Palantir dropped by 23.8% in the latest cycle.\nEven though Palantir continues to be surrounded by bearish narratives, market participants don't seem to be comfortable with shorting the stock.\nThe stock could rally further.\n\nMichael Vi/iStock Editorial via Getty Images\nPalantir's (PLTR) shares are up 20% in the last month alone but the rally could still continue. Latest data reveals that short interest in Palantir declined by 23.8% in the latest cycle alone. This suggests that a broad swath of market participants isn't buying into the bearish narratives surrounding the company, perceive its stock to be fairly valued and perhaps even anticipate it to rally going forward. This development should come across as an encouraging sign for the company's long-side investors. Let's take a closer look at it all.\nThe Data\nI'd like to start by explaining the term \"short interest\" for the uninitiated. It's essentially the total number of short positions that are open against any given stock. A sharp rise in the metric indicates that traders grew bearish on the concerned company, and actively initiated short positions against it. Conversely, a sharp decline in the metric indicates that traders actively wound up their short positions either perhaps because they anticipate the stock to bottom out and/or rally going forward. So, the short interest is a useful tool to gauge the Street's ever-evolving market sentiment.\nIn Palantir's case, its short interest at the end of the latest data cycle stood at 52.3 million, sharply down by 23.8% on a sequential basis. Although Palantir's short interest figure isn't at its all-time low yet, the pace of its recent decline, however, is certainly one of the fastest in the company's brief history since its direct listing last year. For the record, Palantir has over 1.8 billion shares outstanding which means that about 2.8% of its entire share total had been shorted. Also, the short interest data is for the cycle spanning from early June to mid-June, and the data wasreleasedon Thursday.\n\nNext, I wanted to confirm if other software application companies also registered a sharp reduction in their short interest figures, or was Palantir an anomaly in its peer group. So, to get a broader perspective on its industry, I pulled the short interest figures for about 100 software application stocks listed in the US. Interestingly, 55% of these stocks registered a net reduction in their short interest figures, of varying magnitudes of course, which points to an industry-wide short unwinding.\n(Source: BusinessQuant.com, Wsj.com)\nMoreover, the median short interest decline was 1.9%, whereas Palantir's short interest declined by a far more significant 23.8% during the same data cycle. In fact, there were just 6 other stocks in our study group, which saw their short interest decline in excess of 23.8%. This conclusively shows that market participants were far too active with unwinding their short positions in Palantir.\nBut this leads us to an important question - why are market participants so cautious with shorting Palantir in the first place?\nCautious for Good Reason\nAs I've explained in my prior articles, Palantir has several initiatives at play which could collectively catapult its growth in 2021-22. These initiatives include itstransitionto a customer-friendly payment model to boost commercial sales, offeringfree trialsto major companies to expand its sales funnel and expanding itssales teamto revamp its outbound marketing function. We won't be discussing the same points again to avoid being repetitive, but the takeaway here is that since Palantir is undertaking several growth initiatives, it makes for a risky short bet for the time being at least.\nBut don't take my word for it.\nThe community of professional analysts is realizing Palantir's growth potential and raising their revenue estimates for its current fiscal year. They've raised their FY21 revenue estimates by about 5% so far since mid-January and there's no telling how many of such upward revenue revisions are still in store for the remainder of Palantir's FY21. This bullish uncertainty presents an unfavorable risk-reward ratio for short-side market participants and explains why short interest in Palantir continues to decline.\n\nThere's another point to consider here, that nobody seems to be talking about. Palantir has won several COVID-19 tracking-related contracts (such ashere,here,here,hereandhere) over the last 12 - 15 months as government agencies across the globe grappled to control the spread and tried to better manage their resources. With COVID-19 said to be making a fierce comeback with thedelta variant, I contend that Palantir could experience a similar order windfall this year, from proactive government agencies, which could boost the company's government sales along the way.\nLastly, several commenters argue that Palantir's shares are trading at a premium and are due for a sharp correction. Its shares are trading at about 34-times trailing twelve-month sales so it's understandable why many might think that the stock is overvalued. But I believe the problem with this approach is that we're not factoring in industry-wide trading multiples or Palantir's revenue growth rate, compared to its peers.\nSo, to put things in perspective, I compiled the revenue growth rates and price-to-sales (or P/S) multiples for over 320 software infrastructure and software application stocks that are currently listed on US exchanges. Next, I benchmarked these industry groups based on Palantir's revenue growth rate and its P/S multiple. As it turns out, over 90% of Palantir's peers have a slower revenue growth and/or are trading at higher trading multiples. This suggests that Palantir's higher pace of growth justifies its price premium and that the bearish concerns regarding its valuations, are exaggerated.\n(Source: Business Quant.com)\nFinal Thoughts\nI'd like to point to readers that fluctuations in short interest figures don't always impact the underlying stock prices. This data is based on short positions that were open at a prior cut-off date and investors with a long-term time horizon should, at best, use it to corroborate their bull or bear thesis.\nHaving said that, if the bearish narratives surrounding Palantir held any merit, or posed a legitimate risk to its share price, a broad swath of market participants would've actively shorted the stock to profit off of this near-certain eventuality. But that didn't happen and its short interest declined instead, that too by a significant amount.\nThis active short unwinding indicates that market participants are uncomfortable in shorting the stock at current levels. This should come across as a reassuring sign for the company's long-side shareholders. The stock seems to be fairly valued and has the potential to rally further. Good Luck!","news_type":1,"symbols_score_info":{"PLTR":0.9}},"isVote":1,"tweetType":1,"viewCount":1358,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":127287222,"gmtCreate":1624851193266,"gmtModify":1633947959680,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/127287222","repostId":"1177492181","repostType":4,"repost":{"id":"1177492181","kind":"news","pubTimestamp":1624849703,"share":"https://www.laohu8.com/m/news/1177492181?lang=zh_CN&edition=full","pubTime":"2021-06-28 11:08","market":"us","language":"en","title":"The Stock Market Hasn’t Been This Placid in Years<blockquote>股市多年来从未如此平静过</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1177492181","media":"WSJ","summary":"The U.S. stock marketis as calm as can beon the surface, while churning underneath more than it has ","content":"<p>The U.S. stock marketis as calm as can beon the surface, while churning underneath more than it has in decades.</p><p><blockquote>美国股市表面上非常平静，但地下却出现了几十年来最大的动荡。</blockquote></p><p> The S&amp;P 500 is so quiet it is almost disconcerting. The index hasn’t had a 5% correction based on closing prices since the end of October; no wonder the new day traders who started buying shares in lockdown think the market only goes up. The last time the S&amp;P was this serene for so long was in 2017, a period of calm that ended with the volatility crash early in 2018—although back then it was even quieter for much longer.</p><p><blockquote>标普500如此安静，几乎令人不安。自10月底以来，该指数尚未按收盘价调整5%；难怪开始在锁定状态下购买股票的新日内交易者认为市场只会上涨。S&amp;P上一次如此平静如此之久是在2017年，这段平静期随着2018年初的波动性崩盘而结束——尽管当时平静的时间更长。</blockquote></p><p> Yet, look at the performance of types of stocks, and they have been swinging around much more than they usually do. Investors have been switching their bets between industries at a pace not seen outside of crises; March brought the biggest gap between the best and worst-performing sectors since 2002.</p><p><blockquote>然而，看看各类股票的表现，它们的波动幅度比平时大得多。投资者一直在以危机之外从未见过的速度在不同行业之间转换押注；3月份带来了自2002年以来表现最好和最差行业之间的最大差距。</blockquote></p><p> The link between moves in growth stocks and cheap “value” stocks is the weakest—measured by the correlation—since 1995; investors are using them as proxies for betting for or against economic recovery.</p><p><blockquote>以相关性衡量，成长型股票和廉价“价值”股票之间的联系是自1995年以来最弱的；投资者正在用它们作为押注支持或反对经济复苏的代理人。</blockquote></p><p> Meanwhile, big and small stocks last moved so independently of each other during the dot-com bubble of 2000, never a reassuring sign.</p><p><blockquote>与此同时，大小股上一次如此独立的走势是在2000年的互联网泡沫期间，这从来都不是一个令人放心的迹象。</blockquote></p><p> I think this is another aspect of TINA: There Is No Alternative to stocks. With Treasurys, corporate bonds and cashoffering meager or zero return, stocks offer the best hope of gains. Investors who would previously have shifted money from stocks to bonds or vice versa now just switch from one sort of stock to another—so falls in one are offset by gains in another.</p><p><blockquote>我认为这是TINA的另一个方面：除了股票，没有其他选择。由于美国国债、公司债券和现金发行的回报微薄或为零，股票提供了最大的上涨希望。以前会将资金从股票转向债券或反之亦然的投资者现在只需从一种股票转向另一种股票，因此一种股票的下跌会被另一种股票的上涨所抵消。</blockquote></p><p> There is no guarantee that it continues this way, of course. Bring enough fear into play and investors will bolt for the exits no matter how low cash yields are, just as they did in March last year. But while times seem pretty good, it is hard to justify buying a long-dated bond yielding far less than inflation. And times do seem pretty good.</p><p><blockquote>当然，不能保证这种情况会继续下去。只要有足够的恐惧，无论现金收益率有多低，投资者都会蜂拥退出，就像去年3月所做的那样。但是，尽管形势看起来相当好，但很难证明购买收益率远低于通胀的长期债券是合理的。时代看起来确实很好。</blockquote></p><p> A widespread theory among those of a cautious disposition is that stocks just keep going up because a massive bubble has been inflated by cheap money and government stimulus. Stocks haven’t been so expensive since 2000, while a bubble mentality is obvious in the wild overtrading of fashionable stocks. A cluster of small stocks popular with retail tradershas often featured at the topof the most-traded lists this year, notablyGameStopandAMC Entertainmentbut also favorites such as Virgin Galactic andBlackBerry.</p><p><blockquote>持谨慎态度的人普遍认为，股市之所以持续上涨，是因为廉价资金和政府刺激措施吹大了巨大的泡沫。自2000年以来，股票从未如此昂贵，而时尚股票的疯狂过度交易明显存在泡沫心态。一批受散户交易者欢迎的小型股票经常出现在今年交易量最大的名单上，特别是GameStopandaMC Entertainment，但也有维珍银河和黑莓等最受欢迎的股票。</blockquote></p><p> It is undeniable that stocks are far more expensive than usual. But bubbles usually involve lots of volatility as they inflate, not a calm exterior and turmoil within, because every little price drop is magnified by others fearful that the bubble is about to pop. In 1999 there were at least nine drops of more than 5% in the S&amp;P 500, and from its intraday peak in July to the October low it fell 13%.</p><p><blockquote>不可否认，股票远比平时贵。但泡沫在膨胀时通常会出现很大的波动，而不是表面平静和内部动荡，因为价格的每一次小幅下跌都会被担心泡沫即将破裂的其他人放大。1999年，标普500至少有9次跌幅超过5%，从7月的盘中峰值到10月的低点下跌了13%。</blockquote></p><p> This time the most obvious threat to stocks is the Federal Reserve, rather than the market’s overvaluation. If the Fed raises rates, cash and bonds suddenly look much more attractive, and the TINA justification for buying extraordinarily expensive stocks is undermined.</p><p><blockquote>这次对股票最明显的威胁是美联储，而不是市场的高估。如果美联储加息，现金和债券突然看起来更具吸引力，TINA购买异常昂贵股票的理由就会被削弱。</blockquote></p><p> “You’ve got lots of volatility within the market but not a lot of volatility of the market,” says Robert Buckland, chief global equity strategist at Citigroup. “If there’s an alternative to just owning the index that could change.”</p><p><blockquote>花旗集团首席全球股票策略师罗伯特·巴克兰表示：“市场波动很大，但市场波动不大。”“如果除了拥有该指数之外还有其他选择，情况可能会发生变化。”</blockquote></p><p> This month’s Fed scare showed just how sensitive stock prices are when it turns out there is an alternative to stocks, of sorts. The Fedraised rates fractionally off the floorby offering 0.05% instead of 0% on its cash-absorbing reverse repurchase agreements, a kind of overnight secured deposit, and instantly sucked in $235 billion extra. Talk of rate increases coming in two years instead of the three previously projected added to pressure on stocks, and the S&amp;P fell just over 2% in three days before resuming its upward climb.</p><p><blockquote>本月的美联储恐慌表明，当事实证明有股票的替代品时，股价是多么敏感。美联储通过对其吸收现金的逆回购协议（一种隔夜担保存款）提供0.05%而不是0%的利率，小幅提高了利率，并立即额外吸收了2350亿美元。有关两年内而不是之前预测的三年内加息的讨论增加了股市的压力，标准普尔指数在三天内下跌了2%多一点，然后恢复了上行。</blockquote></p><p> If that was the reaction to the Fed just barely doing something close to nothing, imagine how scared the market would be if the Fed started a normal rate hiking cycle and made cash attractive again. It isn’t something I think is likely soon, but the number one threat that could bring the turmoil from the depths to the surface of this market is the Fed.</p><p><blockquote>如果这是对美联储几乎什么都不做的反应，想象一下，如果美联储开始正常的加息周期并让现金再次变得有吸引力，市场会有多害怕。我认为这不太可能很快发生，但可能将动荡从市场深处带到表面的头号威胁是美联储。</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>The Stock Market Hasn’t Been This Placid in Years<blockquote>股市多年来从未如此平静过</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Stock Market Hasn’t Been This Placid in Years<blockquote>股市多年来从未如此平静过</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">WSJ</strong><span class=\"h-time small\">2021-06-28 11:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The U.S. stock marketis as calm as can beon the surface, while churning underneath more than it has in decades.</p><p><blockquote>美国股市表面上非常平静，但地下却出现了几十年来最大的动荡。</blockquote></p><p> The S&amp;P 500 is so quiet it is almost disconcerting. The index hasn’t had a 5% correction based on closing prices since the end of October; no wonder the new day traders who started buying shares in lockdown think the market only goes up. The last time the S&amp;P was this serene for so long was in 2017, a period of calm that ended with the volatility crash early in 2018—although back then it was even quieter for much longer.</p><p><blockquote>标普500如此安静，几乎令人不安。自10月底以来，该指数尚未按收盘价调整5%；难怪开始在锁定状态下购买股票的新日内交易者认为市场只会上涨。S&amp;P上一次如此平静如此之久是在2017年，这段平静期随着2018年初的波动性崩盘而结束——尽管当时平静的时间更长。</blockquote></p><p> Yet, look at the performance of types of stocks, and they have been swinging around much more than they usually do. Investors have been switching their bets between industries at a pace not seen outside of crises; March brought the biggest gap between the best and worst-performing sectors since 2002.</p><p><blockquote>然而，看看各类股票的表现，它们的波动幅度比平时大得多。投资者一直在以危机之外从未见过的速度在不同行业之间转换押注；3月份带来了自2002年以来表现最好和最差行业之间的最大差距。</blockquote></p><p> The link between moves in growth stocks and cheap “value” stocks is the weakest—measured by the correlation—since 1995; investors are using them as proxies for betting for or against economic recovery.</p><p><blockquote>以相关性衡量，成长型股票和廉价“价值”股票之间的联系是自1995年以来最弱的；投资者正在用它们作为押注支持或反对经济复苏的代理人。</blockquote></p><p> Meanwhile, big and small stocks last moved so independently of each other during the dot-com bubble of 2000, never a reassuring sign.</p><p><blockquote>与此同时，大小股上一次如此独立的走势是在2000年的互联网泡沫期间，这从来都不是一个令人放心的迹象。</blockquote></p><p> I think this is another aspect of TINA: There Is No Alternative to stocks. With Treasurys, corporate bonds and cashoffering meager or zero return, stocks offer the best hope of gains. Investors who would previously have shifted money from stocks to bonds or vice versa now just switch from one sort of stock to another—so falls in one are offset by gains in another.</p><p><blockquote>我认为这是TINA的另一个方面：除了股票，没有其他选择。由于美国国债、公司债券和现金发行的回报微薄或为零，股票提供了最大的上涨希望。以前会将资金从股票转向债券或反之亦然的投资者现在只需从一种股票转向另一种股票，因此一种股票的下跌会被另一种股票的上涨所抵消。</blockquote></p><p> There is no guarantee that it continues this way, of course. Bring enough fear into play and investors will bolt for the exits no matter how low cash yields are, just as they did in March last year. But while times seem pretty good, it is hard to justify buying a long-dated bond yielding far less than inflation. And times do seem pretty good.</p><p><blockquote>当然，不能保证这种情况会继续下去。只要有足够的恐惧，无论现金收益率有多低，投资者都会蜂拥退出，就像去年3月所做的那样。但是，尽管形势看起来相当好，但很难证明购买收益率远低于通胀的长期债券是合理的。时代看起来确实很好。</blockquote></p><p> A widespread theory among those of a cautious disposition is that stocks just keep going up because a massive bubble has been inflated by cheap money and government stimulus. Stocks haven’t been so expensive since 2000, while a bubble mentality is obvious in the wild overtrading of fashionable stocks. A cluster of small stocks popular with retail tradershas often featured at the topof the most-traded lists this year, notablyGameStopandAMC Entertainmentbut also favorites such as Virgin Galactic andBlackBerry.</p><p><blockquote>持谨慎态度的人普遍认为，股市之所以持续上涨，是因为廉价资金和政府刺激措施吹大了巨大的泡沫。自2000年以来，股票从未如此昂贵，而时尚股票的疯狂过度交易明显存在泡沫心态。一批受散户交易者欢迎的小型股票经常出现在今年交易量最大的名单上，特别是GameStopandaMC Entertainment，但也有维珍银河和黑莓等最受欢迎的股票。</blockquote></p><p> It is undeniable that stocks are far more expensive than usual. But bubbles usually involve lots of volatility as they inflate, not a calm exterior and turmoil within, because every little price drop is magnified by others fearful that the bubble is about to pop. In 1999 there were at least nine drops of more than 5% in the S&amp;P 500, and from its intraday peak in July to the October low it fell 13%.</p><p><blockquote>不可否认，股票远比平时贵。但泡沫在膨胀时通常会出现很大的波动，而不是表面平静和内部动荡，因为价格的每一次小幅下跌都会被担心泡沫即将破裂的其他人放大。1999年，标普500至少有9次跌幅超过5%，从7月的盘中峰值到10月的低点下跌了13%。</blockquote></p><p> This time the most obvious threat to stocks is the Federal Reserve, rather than the market’s overvaluation. If the Fed raises rates, cash and bonds suddenly look much more attractive, and the TINA justification for buying extraordinarily expensive stocks is undermined.</p><p><blockquote>这次对股票最明显的威胁是美联储，而不是市场的高估。如果美联储加息，现金和债券突然看起来更具吸引力，TINA购买异常昂贵股票的理由就会被削弱。</blockquote></p><p> “You’ve got lots of volatility within the market but not a lot of volatility of the market,” says Robert Buckland, chief global equity strategist at Citigroup. “If there’s an alternative to just owning the index that could change.”</p><p><blockquote>花旗集团首席全球股票策略师罗伯特·巴克兰表示：“市场波动很大，但市场波动不大。”“如果除了拥有该指数之外还有其他选择，情况可能会发生变化。”</blockquote></p><p> This month’s Fed scare showed just how sensitive stock prices are when it turns out there is an alternative to stocks, of sorts. The Fedraised rates fractionally off the floorby offering 0.05% instead of 0% on its cash-absorbing reverse repurchase agreements, a kind of overnight secured deposit, and instantly sucked in $235 billion extra. Talk of rate increases coming in two years instead of the three previously projected added to pressure on stocks, and the S&amp;P fell just over 2% in three days before resuming its upward climb.</p><p><blockquote>本月的美联储恐慌表明，当事实证明有股票的替代品时，股价是多么敏感。美联储通过对其吸收现金的逆回购协议（一种隔夜担保存款）提供0.05%而不是0%的利率，小幅提高了利率，并立即额外吸收了2350亿美元。有关两年内而不是之前预测的三年内加息的讨论增加了股市的压力，标准普尔指数在三天内下跌了2%多一点，然后恢复了上行。</blockquote></p><p> If that was the reaction to the Fed just barely doing something close to nothing, imagine how scared the market would be if the Fed started a normal rate hiking cycle and made cash attractive again. It isn’t something I think is likely soon, but the number one threat that could bring the turmoil from the depths to the surface of this market is the Fed.</p><p><blockquote>如果这是对美联储几乎什么都不做的反应，想象一下，如果美联储开始正常的加息周期并让现金再次变得有吸引力，市场会有多害怕。我认为这不太可能很快发生，但可能将动荡从市场深处带到表面的头号威胁是美联储。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/the-stock-market-hasnt-been-this-placid-in-years-11624740199?mod=itp_wsj\">WSJ</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":{".DJI":"道琼斯"},"source_url":"https://www.wsj.com/articles/the-stock-market-hasnt-been-this-placid-in-years-11624740199?mod=itp_wsj","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1177492181","content_text":"The U.S. stock marketis as calm as can beon the surface, while churning underneath more than it has in decades.\nThe S&P 500 is so quiet it is almost disconcerting. The index hasn’t had a 5% correction based on closing prices since the end of October; no wonder the new day traders who started buying shares in lockdown think the market only goes up. The last time the S&P was this serene for so long was in 2017, a period of calm that ended with the volatility crash early in 2018—although back then it was even quieter for much longer.\nYet, look at the performance of types of stocks, and they have been swinging around much more than they usually do. Investors have been switching their bets between industries at a pace not seen outside of crises; March brought the biggest gap between the best and worst-performing sectors since 2002.\nThe link between moves in growth stocks and cheap “value” stocks is the weakest—measured by the correlation—since 1995; investors are using them as proxies for betting for or against economic recovery.\nMeanwhile, big and small stocks last moved so independently of each other during the dot-com bubble of 2000, never a reassuring sign.\nI think this is another aspect of TINA: There Is No Alternative to stocks. With Treasurys, corporate bonds and cashoffering meager or zero return, stocks offer the best hope of gains. Investors who would previously have shifted money from stocks to bonds or vice versa now just switch from one sort of stock to another—so falls in one are offset by gains in another.\nThere is no guarantee that it continues this way, of course. Bring enough fear into play and investors will bolt for the exits no matter how low cash yields are, just as they did in March last year. But while times seem pretty good, it is hard to justify buying a long-dated bond yielding far less than inflation. And times do seem pretty good.\nA widespread theory among those of a cautious disposition is that stocks just keep going up because a massive bubble has been inflated by cheap money and government stimulus. Stocks haven’t been so expensive since 2000, while a bubble mentality is obvious in the wild overtrading of fashionable stocks. A cluster of small stocks popular with retail tradershas often featured at the topof the most-traded lists this year, notablyGameStopandAMC Entertainmentbut also favorites such as Virgin Galactic andBlackBerry.\nIt is undeniable that stocks are far more expensive than usual. But bubbles usually involve lots of volatility as they inflate, not a calm exterior and turmoil within, because every little price drop is magnified by others fearful that the bubble is about to pop. In 1999 there were at least nine drops of more than 5% in the S&P 500, and from its intraday peak in July to the October low it fell 13%.\nThis time the most obvious threat to stocks is the Federal Reserve, rather than the market’s overvaluation. If the Fed raises rates, cash and bonds suddenly look much more attractive, and the TINA justification for buying extraordinarily expensive stocks is undermined.\n“You’ve got lots of volatility within the market but not a lot of volatility of the market,” says Robert Buckland, chief global equity strategist at Citigroup. “If there’s an alternative to just owning the index that could change.”\nThis month’s Fed scare showed just how sensitive stock prices are when it turns out there is an alternative to stocks, of sorts. The Fedraised rates fractionally off the floorby offering 0.05% instead of 0% on its cash-absorbing reverse repurchase agreements, a kind of overnight secured deposit, and instantly sucked in $235 billion extra. Talk of rate increases coming in two years instead of the three previously projected added to pressure on stocks, and the S&P fell just over 2% in three days before resuming its upward climb.\nIf that was the reaction to the Fed just barely doing something close to nothing, imagine how scared the market would be if the Fed started a normal rate hiking cycle and made cash attractive again. It isn’t something I think is likely soon, but the number one threat that could bring the turmoil from the depths to the surface of this market is the Fed.","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1587,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":125918621,"gmtCreate":1624640740363,"gmtModify":1633950138720,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice!!!!","listText":"nice!!!!","text":"nice!!!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/125918621","repostId":"1198714523","repostType":2,"isVote":1,"tweetType":1,"viewCount":1561,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128566644,"gmtCreate":1624524168788,"gmtModify":1634004890748,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/128566644","repostId":"1166720474","repostType":4,"isVote":1,"tweetType":1,"viewCount":2881,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167876207,"gmtCreate":1624262600109,"gmtModify":1634008732611,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167876207","repostId":"1154249454","repostType":4,"isVote":1,"tweetType":1,"viewCount":1921,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166760784,"gmtCreate":1624025414748,"gmtModify":1634023920269,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a> after $65, it will be $75. Hold","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a> after $65, it will be $75. Hold","text":"$AMC Entertainment(AMC)$ after $65, it will be $75. Hold","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/166760784","isVote":1,"tweetType":1,"viewCount":813,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166270208,"gmtCreate":1624014657904,"gmtModify":1634024114570,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"yes!!!! i love this stock. its going to fly","listText":"yes!!!! i love this stock. its going to fly","text":"yes!!!! i love this stock. its going to fly","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166270208","repostId":"2144742013","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166247702,"gmtCreate":1624014617706,"gmtModify":1634024115268,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166247702","repostId":"2144773087","repostType":4,"isVote":1,"tweetType":1,"viewCount":418,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":169240251,"gmtCreate":1623839900473,"gmtModify":1634027303955,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"comment and like pls","listText":"comment and like pls","text":"comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/169240251","repostId":"1166103542","repostType":4,"repost":{"id":"1166103542","kind":"news","pubTimestamp":1623835778,"share":"https://www.laohu8.com/m/news/1166103542?lang=zh_CN&edition=full","pubTime":"2021-06-16 17:29","market":"us","language":"en","title":"Nio ET7 Will Be Equipped With 'High-Performance' LiDAR, Says Supplier<blockquote>供应商称蔚来ET7将配备“高性能”激光雷达</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166103542","media":"benzinga","summary":"Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7","content":"<p><div> Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7 sedan with a \"high-performance product\" that can detect up to 500 meters, cnEV postreported. What ...</p><p><blockquote><div>据《cnEV邮报》报道，蔚来公司的激光雷达供应商Innovusion周三表示，将为这家电动汽车制造商的ET7轿车配备一款“高性能产品”，探测距离可达500米。什么...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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 ET7 Will Be Equipped With 'High-Performance' LiDAR, Says Supplier<blockquote>供应商称蔚来ET7将配备“高性能”激光雷达</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 ET7 Will Be Equipped With 'High-Performance' LiDAR, Says Supplier<blockquote>供应商称蔚来ET7将配备“高性能”激光雷达</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-06-16 17:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7 sedan with a \"high-performance product\" that can detect up to 500 meters, cnEV postreported. What ...</p><p><blockquote><div>据《cnEV邮报》报道，蔚来公司的激光雷达供应商Innovusion周三表示，将为这家电动汽车制造商的ET7轿车配备一款“高性能产品”，探测距离可达500米。什么...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">benzinga</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.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166103542","content_text":"Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7 sedan with a \"high-performance product\" that can detect up to 500 meters, cnEV postreported.\nWhat Happened:Bao Junwei, co-founder and Chief Executive Officer at Innovusion said its LiDAR technology works on the L3 and L4 autonomous driving and complements the L2 autonomous driving.\nNio is expected to begin deliveries of its premium electric sedan ET7 in the first quarter of next year. The Chinese electric vehicle maker, which revealed ET7 earlier this year, is eyeing international expansion after establishing itself in China.\nLidar, short for light detection and ranging sensors, uses laser light pulses to help vehicles perceive their surroundings. The technology is increasingly being seen as a key for automakers having self-driving ambitions.\nPrice Action:Nio shares closed 3% lower at $45.15 on 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pls","text":"comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/169240251","repostId":"1166103542","repostType":4,"repost":{"id":"1166103542","kind":"news","pubTimestamp":1623835778,"share":"https://www.laohu8.com/m/news/1166103542?lang=zh_CN&edition=full","pubTime":"2021-06-16 17:29","market":"us","language":"en","title":"Nio ET7 Will Be Equipped With 'High-Performance' LiDAR, Says Supplier<blockquote>供应商称蔚来ET7将配备“高性能”激光雷达</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1166103542","media":"benzinga","summary":"Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7","content":"<p><div> Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7 sedan with a \"high-performance product\" that can detect up to 500 meters, cnEV postreported. What ...</p><p><blockquote><div>据《cnEV邮报》报道，蔚来公司的激光雷达供应商Innovusion周三表示，将为这家电动汽车制造商的ET7轿车配备一款“高性能产品”，探测距离可达500米。什么...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页连接</a></blockquote></p><p></p>","source":"lsy1606299360108","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 ET7 Will Be Equipped With 'High-Performance' LiDAR, Says Supplier<blockquote>供应商称蔚来ET7将配备“高性能”激光雷达</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 ET7 Will Be Equipped With 'High-Performance' LiDAR, Says Supplier<blockquote>供应商称蔚来ET7将配备“高性能”激光雷达</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">benzinga</strong><span class=\"h-time small\">2021-06-16 17:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p><div> Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7 sedan with a \"high-performance product\" that can detect up to 500 meters, cnEV postreported. What ...</p><p><blockquote><div>据《cnEV邮报》报道，蔚来公司的激光雷达供应商Innovusion周三表示，将为这家电动汽车制造商的ET7轿车配备一款“高性能产品”，探测距离可达500米。什么...</div></blockquote></p><p>  <a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页链接</a>  </div> </p><p><blockquote><a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">网页连接</a></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier\">benzinga</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.benzinga.com/news/21/06/21582411/nio-et7-will-be-equipped-with-high-performance-lidar-says-supplier","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1166103542","content_text":"Nio Inc’s LiDAR supplier Innovusion said on Wednesday it will equip the electric vehicle maker’s ET7 sedan with a \"high-performance product\" that can detect up to 500 meters, cnEV postreported.\nWhat Happened:Bao Junwei, co-founder and Chief Executive Officer at Innovusion said its LiDAR technology works on the L3 and L4 autonomous driving and complements the L2 autonomous driving.\nNio is expected to begin deliveries of its premium electric sedan ET7 in the first quarter of next year. The Chinese electric vehicle maker, which revealed ET7 earlier this year, is eyeing international expansion after establishing itself in China.\nLidar, short for light detection and ranging sensors, uses laser light pulses to help vehicles perceive their surroundings. The technology is increasingly being seen as a key for automakers having self-driving ambitions.\nPrice Action:Nio shares closed 3% lower at $45.15 on Tuesday.","news_type":1,"symbols_score_info":{"NIO":0.9}},"isVote":1,"tweetType":1,"viewCount":634,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137848551,"gmtCreate":1622339408273,"gmtModify":1634102241955,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"this is bad. but we will live","listText":"this is bad. but we will live","text":"this is bad. but we will live","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/137848551","repostId":"2138306488","repostType":4,"isVote":1,"tweetType":1,"viewCount":525,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":130132942,"gmtCreate":1621518300686,"gmtModify":1634188486255,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/130132942","repostId":"1161150268","repostType":4,"isVote":1,"tweetType":1,"viewCount":627,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166760784,"gmtCreate":1624025414748,"gmtModify":1634023920269,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a> after $65, it will be $75. 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US wakes up.","text":"$AMC Entertainment(AMC)$buy now before it starts to rocket pre-market when the US wakes up.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/119608130","isVote":1,"tweetType":1,"viewCount":726,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135582035,"gmtCreate":1622169925827,"gmtModify":1634183173270,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/135582035","repostId":"1135914889","repostType":4,"repost":{"id":"1135914889","kind":"news","pubTimestamp":1622169102,"share":"https://www.laohu8.com/m/news/1135914889?lang=zh_CN&edition=full","pubTime":"2021-05-28 10:31","market":"us","language":"en","title":"The Fed Explains Why Stocks Melt-Up In Overnight Trading<blockquote>美联储解释股市在隔夜交易中熔化的原因</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1135914889","media":"zerohedge","summary":"By now everyone has seen some iteration of this chart (most recently discussed here), which shows th","content":"<p>By now everyone has seen some iteration of this chart (most recently discussed here), which shows that whereas stocks are generally flat over longer periods of time during the regular \"cash\", or day session, they tend to melt up during the overnight hours when liquidity is far lower and when the \"pajama trades\" come out and play.</p><p><blockquote>到目前为止，每个人都已经看到了这张图表的一些迭代（最近在这里讨论过），它显示，尽管股票在常规的“现金”或日间交易中通常在较长时间内持平，但它们往往会在流动性低得多和“睡衣交易”出现时融化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f6f35b3e516f95ea35d0b5a48b973719\" tg-width=\"500\" tg-height=\"287\">And while there is no single, widely accepted reason for this \"overnight drift\", the post-closed meltup phenomenon has been one of the most popular and recurring strategies in equity markets, with many traders selling spoos when the day session begins and then re-buying at the market close in pursuit of scarce alpha.</p><p><blockquote>虽然这种“隔夜漂移”没有单一的、被广泛接受的原因，但收盘后的熔化现象一直是股市中最受欢迎和反复出现的策略之一，许多交易者在当日交易开始时卖出SPOO，然后在收盘时重新买入，以追求稀缺的阿尔法。</blockquote></p><p> Today,DataTrek's Nicholas Colasgoes right after the $64 trillion question and asks \"<b>why do US stocks so often seem to rally overnight rather than during regular trading hours?\"</b>&nbsp;He answers by pointing to an analysis published today by the New York Fed which has some notable observations and makes an interesting conclusion..</p><p><blockquote>今天，DataTrek的尼古拉斯·科拉斯(Nicholas Colas)紧随64万亿美元的问题之后问道：“<b>为什么美国股市似乎经常在隔夜而不是在正常交易时间上涨？”</b>他指出了纽约联储今天发表的一份分析报告，其中有一些值得注意的观察结果，并得出了一个有趣的结论..</blockquote></p><p> First, here is what the Fed dubs the “Overnight Drift”.&nbsp;The chart below shows average daily S&amp;P 500 futures returns by hour from 1998 – 2019. The time stamps on the X axis are East Coast US time, starting at 6 pm local. As you can see, the largest returns (when the red line goes parabolic) are from 2am to 3am. During regular trading hours (930 to 1600, right side of the graph) average cumulative returns are basically flat.</p><p><blockquote>首先，这是美联储所谓的“隔夜漂移”。下图显示了1998年至2019年按小时划分的标普500期货日均回报率。X轴上的时间戳是美国东海岸时间，从当地时间下午6点开始。如您所见，最大的回报（当红线呈抛物线状时）是在凌晨2点到3点。在常规交易时间（930至1600，图表右侧），平均累积回报基本持平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8bff0195f2ddcfa83057abf5b0d8431b\" tg-width=\"500\" tg-height=\"421\"><b>The Fed attributes this “Drift” to US equity market makers absorbing excess supply during selloffs at discounted prices going into the 4:00 pm close, which in turn creates an artificially low S&amp;P closing price.</b>The chart below shows the “Overnight Drift” broken down by days with high “RSV” (Relative Signed Volume, the percent of sell imbalances) versus those with no RSV or negative RSV (lots of buy interest at the close).<b>Sure enough, days with high levels of selling at the close have a more pronounced positive “Overnight Drift”.</b></p><p><blockquote><b>美联储将这种“漂移”归因于美国股市做市商在下午4:00收盘时以折扣价抛售期间吸收了过剩供应，这反过来又人为地制造了较低的S&amp;P收盘价。</b>下图显示了“隔夜漂移”，按“RSV”高（相对签约量，卖出失衡百分比）的天数与没有RSV或RSV为负（收盘时有大量买入兴趣）的天数进行细分。<b>果然，收盘时抛售水平较高的日子有更明显的积极“隔夜漂移”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/14e7c06d0a9ffaff14246b05ed6d472c\" tg-width=\"500\" tg-height=\"436\"><b>Takeaway: to the Fed’s thinking, the Overnight Drift is caused by non-US traders sniffing out artificially discounted closing S&amp;P prices and arbitraging them away (albeit with some risk) before the next trading day in the States.</b>As for a practical takeaway, the first chart we showed you says that on average you’re often better off selling equity positions at the open and putting in your Buy tickets in the middle of the afternoon. Market events can always subvert that approach, of course, but on average it has been a productive rule set to follow.</p><p><blockquote><b>要点：在美联储看来，隔夜波动是由非美国交易员嗅出人为贴现的标准普尔收盘价并在美国下一个交易日之前套利（尽管存在一些风险）造成的。</b>至于实用的要点，我们向您展示的第一张图表显示，平均而言，您通常最好在开盘时卖出股票头寸并在下午中旬买入。当然，市场事件总是会颠覆这种方法，但平均而言，这是一条值得遵循的富有成效的规则。</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>The Fed Explains Why Stocks Melt-Up In Overnight Trading<blockquote>美联储解释股市在隔夜交易中熔化的原因</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Fed Explains Why Stocks Melt-Up In Overnight Trading<blockquote>美联储解释股市在隔夜交易中熔化的原因</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-05-28 10:31</span>\n</p>\n</h4>\n</header>\n<article>\n<p>By now everyone has seen some iteration of this chart (most recently discussed here), which shows that whereas stocks are generally flat over longer periods of time during the regular \"cash\", or day session, they tend to melt up during the overnight hours when liquidity is far lower and when the \"pajama trades\" come out and play.</p><p><blockquote>到目前为止，每个人都已经看到了这张图表的一些迭代（最近在这里讨论过），它显示，尽管股票在常规的“现金”或日间交易中通常在较长时间内持平，但它们往往会在流动性低得多和“睡衣交易”出现时融化。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f6f35b3e516f95ea35d0b5a48b973719\" tg-width=\"500\" tg-height=\"287\">And while there is no single, widely accepted reason for this \"overnight drift\", the post-closed meltup phenomenon has been one of the most popular and recurring strategies in equity markets, with many traders selling spoos when the day session begins and then re-buying at the market close in pursuit of scarce alpha.</p><p><blockquote>虽然这种“隔夜漂移”没有单一的、被广泛接受的原因，但收盘后的熔化现象一直是股市中最受欢迎和反复出现的策略之一，许多交易者在当日交易开始时卖出SPOO，然后在收盘时重新买入，以追求稀缺的阿尔法。</blockquote></p><p> Today,DataTrek's Nicholas Colasgoes right after the $64 trillion question and asks \"<b>why do US stocks so often seem to rally overnight rather than during regular trading hours?\"</b>&nbsp;He answers by pointing to an analysis published today by the New York Fed which has some notable observations and makes an interesting conclusion..</p><p><blockquote>今天，DataTrek的尼古拉斯·科拉斯(Nicholas Colas)紧随64万亿美元的问题之后问道：“<b>为什么美国股市似乎经常在隔夜而不是在正常交易时间上涨？”</b>他指出了纽约联储今天发表的一份分析报告，其中有一些值得注意的观察结果，并得出了一个有趣的结论..</blockquote></p><p> First, here is what the Fed dubs the “Overnight Drift”.&nbsp;The chart below shows average daily S&amp;P 500 futures returns by hour from 1998 – 2019. The time stamps on the X axis are East Coast US time, starting at 6 pm local. As you can see, the largest returns (when the red line goes parabolic) are from 2am to 3am. During regular trading hours (930 to 1600, right side of the graph) average cumulative returns are basically flat.</p><p><blockquote>首先，这是美联储所谓的“隔夜漂移”。下图显示了1998年至2019年按小时划分的标普500期货日均回报率。X轴上的时间戳是美国东海岸时间，从当地时间下午6点开始。如您所见，最大的回报（当红线呈抛物线状时）是在凌晨2点到3点。在常规交易时间（930至1600，图表右侧），平均累积回报基本持平。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8bff0195f2ddcfa83057abf5b0d8431b\" tg-width=\"500\" tg-height=\"421\"><b>The Fed attributes this “Drift” to US equity market makers absorbing excess supply during selloffs at discounted prices going into the 4:00 pm close, which in turn creates an artificially low S&amp;P closing price.</b>The chart below shows the “Overnight Drift” broken down by days with high “RSV” (Relative Signed Volume, the percent of sell imbalances) versus those with no RSV or negative RSV (lots of buy interest at the close).<b>Sure enough, days with high levels of selling at the close have a more pronounced positive “Overnight Drift”.</b></p><p><blockquote><b>美联储将这种“漂移”归因于美国股市做市商在下午4:00收盘时以折扣价抛售期间吸收了过剩供应，这反过来又人为地制造了较低的S&amp;P收盘价。</b>下图显示了“隔夜漂移”，按“RSV”高（相对签约量，卖出失衡百分比）的天数与没有RSV或RSV为负（收盘时有大量买入兴趣）的天数进行细分。<b>果然，收盘时抛售水平较高的日子有更明显的积极“隔夜漂移”。</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/14e7c06d0a9ffaff14246b05ed6d472c\" tg-width=\"500\" tg-height=\"436\"><b>Takeaway: to the Fed’s thinking, the Overnight Drift is caused by non-US traders sniffing out artificially discounted closing S&amp;P prices and arbitraging them away (albeit with some risk) before the next trading day in the States.</b>As for a practical takeaway, the first chart we showed you says that on average you’re often better off selling equity positions at the open and putting in your Buy tickets in the middle of the afternoon. Market events can always subvert that approach, of course, but on average it has been a productive rule set to follow.</p><p><blockquote><b>要点：在美联储看来，隔夜波动是由非美国交易员嗅出人为贴现的标准普尔收盘价并在美国下一个交易日之前套利（尽管存在一些风险）造成的。</b>至于实用的要点，我们向您展示的第一张图表显示，平均而言，您通常最好在开盘时卖出股票头寸并在下午中旬买入。当然，市场事件总是会颠覆这种方法，但平均而言，这是一条值得遵循的富有成效的规则。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.zerohedge.com/markets/fed-explains-why-stocks-melt-overnight-trading\">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",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/fed-explains-why-stocks-melt-overnight-trading","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1135914889","content_text":"By now everyone has seen some iteration of this chart (most recently discussed here), which shows that whereas stocks are generally flat over longer periods of time during the regular \"cash\", or day session, they tend to melt up during the overnight hours when liquidity is far lower and when the \"pajama trades\" come out and play.\nAnd while there is no single, widely accepted reason for this \"overnight drift\", the post-closed meltup phenomenon has been one of the most popular and recurring strategies in equity markets, with many traders selling spoos when the day session begins and then re-buying at the market close in pursuit of scarce alpha.\nToday,DataTrek's Nicholas Colasgoes right after the $64 trillion question and asks \"why do US stocks so often seem to rally overnight rather than during regular trading hours?\" He answers by pointing to an analysis published today by the New York Fed which has some notable observations and makes an interesting conclusion..\nFirst, here is what the Fed dubs the “Overnight Drift”. The chart below shows average daily S&P 500 futures returns by hour from 1998 – 2019. The time stamps on the X axis are East Coast US time, starting at 6 pm local. As you can see, the largest returns (when the red line goes parabolic) are from 2am to 3am. During regular trading hours (930 to 1600, right side of the graph) average cumulative returns are basically flat.\nThe Fed attributes this “Drift” to US equity market makers absorbing excess supply during selloffs at discounted prices going into the 4:00 pm close, which in turn creates an artificially low S&P closing price.The chart below shows the “Overnight Drift” broken down by days with high “RSV” (Relative Signed Volume, the percent of sell imbalances) versus those with no RSV or negative RSV (lots of buy interest at the close).Sure enough, days with high levels of selling at the close have a more pronounced positive “Overnight Drift”.\nTakeaway: to the Fed’s thinking, the Overnight Drift is caused by non-US traders sniffing out artificially discounted closing S&P prices and arbitraging them away (albeit with some risk) before the next trading day in the States.As for a practical takeaway, the first chart we showed you says that on average you’re often better off selling equity positions at the open and putting in your Buy tickets in the middle of the afternoon. Market events can always subvert that approach, of course, but on average it has been a productive rule set to follow.","news_type":1,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139104023,"gmtCreate":1621597727862,"gmtModify":1634187778987,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"Nice one. shall buy some","listText":"Nice one. shall buy some","text":"Nice one. shall buy some","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/139104023","repostId":"1159725394","repostType":4,"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377357991,"gmtCreate":1619499728413,"gmtModify":1634212241290,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"let is fly","listText":"let is fly","text":"let is fly","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/377357991","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.laohu8.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>特斯拉净利润创纪录4.38亿美元营收暴增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>特斯拉报告本季度净利润达到创纪录的4.38亿美元，每股收益为93美分，营收为103.9亿美元。</li><li>该公司在财报中表示，通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，它已经度过了困扰汽车行业的芯片短缺问题。</li><li>在财报看涨期权上，首席执行官Elon Musk表示，该公司推迟的新版Model S轿车将于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。在比特币销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编制的分析师预期相比：</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，预期每股79美分</li><li><b>收入：</b>103.9亿美元，预期为102.9亿美元，同比增长74%</li></ul>按GAAP计算，净利润达到季度创纪录的4.38亿美元，该公司在此期间从监管信贷销售中获得了5.18亿美元的收入。本季度比特币销售还带来了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Elon Musk的电动汽车业务报告称，第一季度Model 3和Model Y汽车交付量为18.48万辆，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，该公司没有生产任何高端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，Musk表示，该公司新版Model S轿车最终将于2021年5月开始向客户交付，Model X将于今年第三季度开始交付。Musk和CFO Zachary Kirkhorn均表示，供应链问题可能仍是特斯拉今年面临的挑战。</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年第四季度财报更新期间），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。但他周一承认，在生产这些车辆的更新版本时，“存在比预期更多的挑战”。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年汽车交付量总体增长将超过50%，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。服务扩张跟不上车辆销量的步伐。</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，它通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，部分克服了困扰汽车行业的芯片短缺问题。它没有透露新供应商的名称。</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声称的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）团队完全专注于向基于视觉的自动驾驶系统发展，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报中表示。</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，特斯拉能源发电和存储业务的收入几乎翻了一番，当时马斯克表示，当时新冠疫情是一种新兴流行病，导致其能源业务放缓。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，特斯拉将其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片）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恼怒的顾客。</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”，可以帮助现有电力公司在需求和极端天气事件增加时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的电池生产或组合，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>Musk表示，该公司自主开发并在加州Fremont的一家试点工厂生产的4680电池还不够可靠，无法用特斯拉汽车运输。他表示，特斯拉可能会在12至18个月内“实现批量生产”这些电池。</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，它购买了15亿美元的比特币，并可能在未来投资其他加密货币。到4月份，比特币升至创纪录水平，然后回落。特斯拉在其现金流量表中透露，该公司在本季度出售了价值2.72亿美元的“数字资产”，可能是比特币。</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>特斯拉净利润创纪录4.38亿美元营收暴增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>特斯拉净利润创纪录4.38亿美元营收暴增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>特斯拉报告本季度净利润达到创纪录的4.38亿美元，每股收益为93美分，营收为103.9亿美元。</li><li>该公司在财报中表示，通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，它已经度过了困扰汽车行业的芯片短缺问题。</li><li>在财报看涨期权上，首席执行官Elon Musk表示，该公司推迟的新版Model S轿车将于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。在比特币销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编制的分析师预期相比：</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，预期每股79美分</li><li><b>收入：</b>103.9亿美元，预期为102.9亿美元，同比增长74%</li></ul>按GAAP计算，净利润达到季度创纪录的4.38亿美元，该公司在此期间从监管信贷销售中获得了5.18亿美元的收入。本季度比特币销售还带来了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Elon Musk的电动汽车业务报告称，第一季度Model 3和Model Y汽车交付量为18.48万辆，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，该公司没有生产任何高端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，Musk表示，该公司新版Model S轿车最终将于2021年5月开始向客户交付，Model X将于今年第三季度开始交付。Musk和CFO Zachary Kirkhorn均表示，供应链问题可能仍是特斯拉今年面临的挑战。</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年第四季度财报更新期间），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。但他周一承认，在生产这些车辆的更新版本时，“存在比预期更多的挑战”。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年汽车交付量总体增长将超过50%，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。服务扩张跟不上车辆销量的步伐。</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，它通过“极快地转向新的微控制器，同时为新供应商制造的新芯片开发固件”，部分克服了困扰汽车行业的芯片短缺问题。它没有透露新供应商的名称。</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声称的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）团队完全专注于向基于视觉的自动驾驶系统发展，我们几乎准备好将美国市场转向特斯拉视觉，”该公司在财报中表示。</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，特斯拉能源发电和存储业务的收入几乎翻了一番，当时马斯克表示，当时新冠疫情是一种新兴流行病，导致其能源业务放缓。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，特斯拉将其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片）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恼怒的顾客。</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”，可以帮助现有电力公司在需求和极端天气事件增加时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的电池生产或组合，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>Musk表示，该公司自主开发并在加州Fremont的一家试点工厂生产的4680电池还不够可靠，无法用特斯拉汽车运输。他表示，特斯拉可能会在12至18个月内“实现批量生产”这些电池。</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，它购买了15亿美元的比特币，并可能在未来投资其他加密货币。到4月份，比特币升至创纪录水平，然后回落。特斯拉在其现金流量表中透露，该公司在本季度出售了价值2.72亿美元的“数字资产”，可能是比特币。</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 $272 million worth of “digital assets,” presumably bitcoin, during the quarter.","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":465,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118834060,"gmtCreate":1622727510650,"gmtModify":1634098695850,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a> it going to be at least 85 to end of the day,","listText":"<a target=\"_blank\" href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a> it going to be at least 85 to end of the day,","text":"$AMC Entertainment(AMC)$ it going to be at least 85 to end of the day,","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/118834060","isVote":1,"tweetType":1,"viewCount":662,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":108721694,"gmtCreate":1620056079218,"gmtModify":1634208164319,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice work","listText":"nice work","text":"nice work","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/108721694","repostId":"2132597776","repostType":4,"isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372207438,"gmtCreate":1619217777124,"gmtModify":1634287748562,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"cant wait","listText":"cant wait","text":"cant wait","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/372207438","repostId":"1149578575","repostType":4,"isVote":1,"tweetType":1,"viewCount":493,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":141906600,"gmtCreate":1625829819300,"gmtModify":1633936925869,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"like and share","listText":"like and share","text":"like and share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/141906600","repostId":"2150716443","repostType":4,"isVote":1,"tweetType":1,"viewCount":2911,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":184851417,"gmtCreate":1623709508639,"gmtModify":1634029912342,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"i have some, but not buying more","listText":"i have some, but not buying more","text":"i have some, but not buying more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/184851417","repostId":"2143784913","repostType":4,"isVote":1,"tweetType":1,"viewCount":765,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116687913,"gmtCreate":1622796485832,"gmtModify":1634097921508,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>For the&nbsp;Chinese is this a good opportunity to flip the US economy, NO?","listText":"<a href=\"https://laohu8.com/S/AMC\">$AMC Entertainment(AMC)$</a>For the&nbsp;Chinese is this a good opportunity to flip the US economy, NO?","text":"$AMC Entertainment(AMC)$For the Chinese is this a good opportunity to flip the US economy, NO?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/116687913","isVote":1,"tweetType":1,"viewCount":413,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":194321819,"gmtCreate":1621344497331,"gmtModify":1634192294030,"author":{"id":"3580863560680452","authorId":"3580863560680452","name":"Canokira","avatar":"https://static.tigerbbs.com/0562a6b7ded0dcc81f834c3e023b803a","crmLevel":12,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3580863560680452","idStr":"3580863560680452"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/194321819","repostId":"2136738931","repostType":4,"repost":{"id":"2136738931","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":1621318800,"share":"https://www.laohu8.com/m/news/2136738931?lang=zh_CN&edition=full","pubTime":"2021-05-18 14:20","market":"hk","language":"en","title":"JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2136738931","media":"Tiger Newspress","summary":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering  to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion  if the deal is priced at the top end.JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics' offering is expected to be the second multibilli","content":"<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</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\">\nJD Logistics launches Hong Kong IPO to raise up to US$3.4 billion<blockquote>京东物流启动香港IPO募资至多34亿美元</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\">2021-05-18 14:20</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（Click here To apply for the JD Logistics Shares）</b></a><b></b></p><p><blockquote>中国电子商务巨头京东的物流部门周一开始向散户投资者推销其在香港的首次公开募股（IPO），价格范围为每股39.36港元至43.36港元，如果交易定价在最高端，该公司可能会筹集高达264亿港元（34亿美元）。<a href=\"https://www.itiger.com/mi/ipo?feature=Push\" target=\"_blank\"><b>（点击此处申请京东物流股份）</b></a><b></b></blockquote></p><p>JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.</p><p><blockquote>京东物流的公开发行将从周一持续到周五。其股票预计将于5月28日在香港交易所主板开始交易。</blockquote></p><p>JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.</p><p><blockquote>京东物流计划出售6.092亿股股票，占其扩大后股本的10%。如果需求强劲，则有超额配股权可再出售最多9140万股。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cd9320033ea7302952fa2cb6ece8339a\" tg-width=\"958\" tg-height=\"464\"></p><p><blockquote></blockquote></p><p>Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.</p><p><blockquote>阁下的申请必须认购最少100股香港发售股份，并按下表所列其中一个数目认购。您需要支付您选择的号码旁边的金额。</blockquote></p><p><img src=\"https://static.tigerbbs.com/b1f72efeb4b54a02dbfe728ebb1099dd\" tg-width=\"958\" tg-height=\"437\"></p><p><blockquote></blockquote></p><p>JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.</p><p><blockquote>京东物流的发行预计将是今年港交所第二笔数十亿美元的IPO，此前腾讯控股支持的短视频平台快手科技在1月份筹集了62亿美元。快手的发行是今年迄今为止全球最大的IPO。</blockquote></p><p>Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.</p><p><blockquote>八名基石投资者已承诺购买总价值15亿美元的京东物流股票，如果交易定价为最高端，这将占其全球发行的约39%。</blockquote></p><p>The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.</p><p><blockquote>投资者包括软银、新加坡主权财富基金淡马锡控股、中国结构性改革基金以及黑石、老虎环球管理等资产管理公司。</blockquote></p><p>BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.</p><p><blockquote>美银证券、高盛和海通国际担任此次交易的联席保荐人，瑞银则担任财务顾问。</blockquote></p><p>Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.</p><p><blockquote>假设该交易定价为最高端，京东物流的市值将为2641亿港元，估值高于中通快递。</blockquote></p><p>Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.</p><p><blockquote>总部位于上海的中通去年9月通过二次上市在港上市时，市值为1807亿港元，阿里巴巴-SW集团是其股东之一。阿里巴巴-SW拥有《南华早报》。</blockquote></p><p>Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.</p><p><blockquote>投资者将渴望了解更多有关京东物流盈利计划的信息。这家总部位于北京的公司在招股说明书中表示，预计今年的净亏损将更大，此前2018年亏损28亿元人民币（4.35亿美元），2019年亏损22亿元人民币，2020年亏损40亿元人民币。</blockquote></p><p>\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.</p><p><blockquote>该公司在招股说明书草案中表示：“由于我们目前将业务增长和市场份额扩大置于盈利能力之上，因此我们的盈利状况在中短期内可能会出现重大波动。”</blockquote></p><p>JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.</p><p><blockquote>京东物流正在寻求与中通和韵达控股等其他参与者区分开来，将自己标榜为一家技术驱动的物流服务提供商，使用自主移动机器人、分拣机器人和自动驾驶汽车来提高配送速度和准确性。</blockquote></p><p>Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.</p><p><blockquote>从技术角度推销股票销售可以帮助京东物流描绘更积极的前景。这是因为快递行业的竞争尤其激烈，有报道称一些新参与者以低于成本的价格提供服务来抢占业务。</blockquote></p><p>Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.</p><p><blockquote>华兴资本分析师查理·陈(Charlie Chen)表示，过去三年，由于市场竞争激烈，快递公司每个包裹的平均收入下降了50%至60%。</blockquote></p><p>SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.</p><p><blockquote>中国最大的快递服务提供商顺丰本月震惊市场，此前该公司预测第一季度亏损11亿元人民币，引发了对其股票的抛售。截至周五收盘，其在上海的股价较2月中旬的峰值几乎腰斩。</blockquote></p><p>Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.</p><p><blockquote>中通、圆通快递、申通快递、顺丰快递和韵达控股这五家公司占据了中国快递服务市场近80%的份额。</blockquote></p><p>China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.</p><p><blockquote>就支出而言，中国是全球最大的物流市场，2020年物流总支出达到14.9万亿元。京东物流招股说明书中引用的研究公司灼识咨询的数据显示，预计到2025年，这一数字将增至19.3万亿元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02618":"京东物流"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2136738931","content_text":"The logistics arm of Chinese e-commerce giant JD.com started marketing its Hong Kong initial public offering (IPO) to retail investors on Monday at a price range of HK$39.36 to HK$43.36 per share, which could see the firm raise as much as HK$26.4 billion (US$3.4 billion) if the deal is priced at the top end.（Click here To apply for the JD Logistics Shares）JD Logistics' public offering will run from Monday to Friday. Its shares are expected to begin trading on the Hong Kong bourse's main board on May 28.JD Logistics plans to sell 609.2 million shares, representing 10 per cent of its enlarged share capital. There is an over-allotment option to sell up to 91.4 million more shares if there is a strong demand.Your application must be for a minimum of 100 Hong Kong Offer Shares and in one of the numbers set out in the table. You are required to pay the amount next to the number you select.JD Logistics' offering is expected to be the second multibillion-dollar IPO on the Hong Kong bourse this year, after Tencent-backed short video platform Kuaishou Technology raised US$6.2 billion in January. The Kuaishou offering was the biggest IPO globally so far this year.Eight cornerstone investors have committed to buy a total of US$1.5 billion worth of JD Logistics shares, which would account for about 39 per cent of its global offering if the deal is priced at the top end.The investors include Softbank, Singapore sovereign wealth fund Temasek Holdings, China Structural Reform Fund and asset managers such as Blackstone, Tiger Global Management and others.BofA Securities, Goldman Sachs and Haitong International are acting as joint sponsors on the transaction, while UBS is serving as a financial adviser.Assuming the deal is priced at the top end, JD Logistics' market capitalisation would be HK$264.1 billion, valuing it higher than ZTO Express.Shanghai-based ZTO, which counts Alibaba Group Holding as one of its shareholders, had a market capitalisation of HK$180.7 billion when it listed in Hong Kong through a secondary listing last September. Alibaba owns the South China Morning Post.Investors will be keen to learn more about JD Logistics' plan to churn out a profit. The Beijing-based firm said in its prospectus that it expects a bigger net loss for this year, after racking up losses of 2.8 billion yuan (US$435 million) in 2018, 2.2 billion yuan in 2019 and 4 billion yuan in 2020.\"As we currently prioritise growth of our business and expansion of our market share over profitability, there can be significant fluctuations in our profitability profile in the near-to-medium term,\" the company said in its draft prospectus.JD Logistics is seeking to differentiate itself from other players, such as ZTO and Yunda Holding, by touting itself as a technology-driven logistic services provider using autonomous mobile robots, sorting robots and self-driving vehicles to enhance delivery speed and accuracy.Pitching the stock sale with a tech angle could help JD Logistics paint a more positive outlook. This is because competition is particularly keen in the express delivery sector, with reports of some newer players offering services at below cost to grab business.Over the past three years, the average revenue per parcel for express delivery companies declined by 50 per cent to 60 per cent owing to intensive market competition, according to Charlie Chen, an analyst at China Renaissance.SF Express, China's top delivery service provider, shocked the market this month after it forecast a first-quarter loss of 1.1 billion yuan, triggering a sell-off of its stock. As of Friday's close, its share price in Shanghai was almost halved from its mid-February peak.Five players - ZTO, YTO Express, STO Express, SF Express and Yunda Holding - account for nearly 80 per cent of China's express delivery service market.China is the biggest logistics market in the world in terms of spending, with total logistics spending reaching 14.9 trillion yuan in 2020. That is expected to increase to 19.3 trillion yuan by 2025, according to data from research firm China Insights Consultancy cited in JD Logistics' prospectus.","news_type":1,"symbols_score_info":{"02618":0.9}},"isVote":1,"tweetType":1,"viewCount":267,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}