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HellenKhor

HellenKhor

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2021-08-12

LNC

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2021-08-11

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Toplines After Hours US Market on Tuesday<blockquote>周二美国市场盘后顶线</blockquote>

2021-08-10

L & C myself

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2021-08-09

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Coinbase Joins Google, Salesforce Among Most Active Venture Capital Investors<blockquote>Coinbase加入Google、Salesforce行列成为最活跃的风险投资投资者</blockquote>

2021-08-09

L

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2021-08-06

Like myself

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2021-08-06

Like myself

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2021-08-01

L n c myself

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2021-07-25

L & c myself

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2021-07-17

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Coupa Shares Extend Losses After Post-Analyst Day Selloff<blockquote>分析师日抛售后，Coupa股价扩大跌幅</blockquote>

2021-07-15

Comment & like

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2021-07-13

Like

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2021-07-12

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2021-07-11

Like myself

The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>

2021-07-10

Like

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2021-07-08

Commen & like myself

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2021-07-05

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Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>

2021-07-03

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Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>

2021-07-01

Comment

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2021-07-01

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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1628638405,"share":"https://www.laohu8.com/m/news/1195651017?lang=zh_CN&edition=full","pubTime":"2021-08-11 07:33","market":"us","language":"en","title":"Toplines After Hours US Market on Tuesday<blockquote>周二美国市场盘后顶线</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1195651017","media":"Tiger Newspress","summary":"U.S. stock index futures were flat during overnight trading on Tuesday, after the Dow and S&P 500 cl","content":"<p>U.S. stock index futures were flat during overnight trading on Tuesday, after the Dow and S&amp;P 500 closed at&nbsp;record highs&nbsp;following the Senate passing the$1 trillion infrastructure bill.</p><p><blockquote>美国股指期货周二隔夜交易中持平，此前道指和标普500在参议院通过1万亿美元基础设施法案后收于历史新高。</blockquote></p><p> Futures contracts tied to the <a href=\"https://laohu8.com/S/.DJI\">DJIA</a> were slightly higher. <a href=\"https://laohu8.com/S/.SPX\">S&amp;P 500</a> futures and Nasdaq 100 futures were flat.</p><p><blockquote>期货合约与<a href=\"https://laohu8.com/S/.DJI\">道琼斯</a>略高。<a href=\"https://laohu8.com/S/.SPX\">标普500</a>期货、纳斯达克100期货持平。</blockquote></p><p> At 7:30&nbsp;p.m. ET, Dow e-minis were down 14 points, or 0.04%, S&amp;P 500 e-minis were down 2.50 points, or 0.06%, and Nasdaq 100 e-minis were down 8.25 points, or 0.05%.<img src=\"https://static.tigerbbs.com/bb78d3b983aa4d779cf3b1bdc234bd42\" tg-width=\"1125\" tg-height=\"413\" referrerpolicy=\"no-referrer\"></p><p><blockquote>晚上七点半。ET，道指e-minis下跌14点，跌幅0.04%，标普500 e-minis下跌2.50点，跌幅0.06%，纳斯达克100 e-minis下跌8.25点，跌幅0.05%。</blockquote></p><p> <b>Stocks making the biggest moves after hours:</b></p><p><blockquote><b>盘后涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/WW\">Weight Watchers International Inc</a>&nbsp;23.2% LOWER; reported Q2 EPS of $0.12, which may not compare to the analyst estimate of $0.65. Revenue for the quarter came in at $311 million versus the consensus estimate of $337.1 million.</p><p><blockquote><a href=\"https://laohu8.com/S/WW\">慧俪轻体国际公司</a>23.降低2%；报告第二季度每股收益为0.12美元，可能无法与分析师预期的0.65美元相比。该季度营收为3.11亿美元，而市场普遍预期为3.371亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/UPST\">Upstart Holdings, Inc.</a> 17.9% HIGHER; reported Q2 EPS of $0.62, $0.37 better than the analyst estimate of $0.25. Revenue for the quarter came in at $194 million versus the consensus estimate of $157.76 million. Upstart Holdings sees Q3 2021 revenue of $205-215 million, versus the consensus of $161.6 million.</p><p><blockquote><a href=\"https://laohu8.com/S/UPST\">新贵控股公司。</a>高17.9%；报告第二季度每股收益为0.62美元，比分析师预期的0.25美元高出0.37美元。该季度营收为1.94亿美元，而市场普遍预期为1.5776亿美元。Upstart Holdings预计2021年第三季度收入为2.05-2.15亿美元，而市场普遍预期为1.616亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/ONTF\">ON24, Inc.</a> 14.9% LOWER; reported Q2 EPS of $0.04, $0.04 better than the analyst estimate of $0.00. Revenue for the quarter came in at $52.1 million versus the consensus estimate of $51.03 million. ON24, Inc. sees Q3 2021 EPS of ($0.09)-($0.07), versus the consensus of ($0.05). ON24, Inc. sees Q3 2021 revenue of $47.5-48.5 million, versus the consensus of $51.2 million. ON24, Inc. sees FY2021 EPS of ($0.13)-($0.06), versus the consensus of ($0.04). ON24, Inc. sees FY2021 revenue of $201.2-204.2 million, versus the consensus of $209.2 million.</p><p><blockquote><a href=\"https://laohu8.com/S/ONTF\">ON24公司。</a>下降14.9%；报告第二季度每股收益为0.04美元，比分析师预期的0.00美元好0.04美元。该季度营收为5210万美元，而市场普遍预期为5103万美元。ON24，Inc.预计2021年第三季度每股收益为（0.09美元）-（0.07美元），而市场普遍预期为（0.05美元）。ON24，Inc.预计2021年第三季度收入为4750-4850万美元，而市场普遍预期为5120万美元。ON24，Inc.预计2021财年每股收益为（0.13美元）-（0.06美元），而市场普遍预期为（0.04美元）。ON24，Inc.预计2021财年收入为2.012亿至2.042亿美元，而市场普遍预期为2.092亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/LPRO\">Open Lending Corporation</a> 18.2% HIGHER; reported Q2 EPS of $0.60, $0.43 better than the analyst estimate of $0.17. Revenue for the quarter came in at $61.1 million versus the consensus estimate of $48.98 million. Open Lending Corp. sees FY2021 revenue of $184-234 million, versus the consensus of $216 million.</p><p><blockquote><a href=\"https://laohu8.com/S/LPRO\">开放借贷公司</a>高18.2%；报告第二季度每股收益为0.60美元，比分析师预期的0.17美元好0.43美元。该季度营收为6110万美元，而市场普遍预期为4898万美元。Open Lending Corp.预计2021财年收入为1.84-2.34亿美元，而市场普遍预期为2.16亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/FUBO\">fuboTV Inc.</a> 12.1% HIGHER; reported Q2 EPS of ($0.38), $0.12 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $130.9 million versus the consensus estimate of $118.88 million. fuboTV Inc. sees Q3 2021 revenue of $140-144 million, versus the consensus of $126.9 million. fuboTV Inc. sees FY2021 revenue of $560-570 million, versus the consensus of $531.7 million.</p><p><blockquote><a href=\"https://laohu8.com/S/FUBO\">富波电视公司。</a>高12.1%；报告第二季度每股收益为（0.38美元），比分析师预期的（0.50美元）高出0.12美元。该季度营收为1.309亿美元，而市场普遍预期为1.1888亿美元。fuboTV Inc.预计2021年第三季度收入为140-1.44亿美元，而市场普遍预期为1.269亿美元。fuboTV Inc.预计2021财年收入为5.60-5.7亿美元，而市场普遍预期为5.317亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/MRVI\">Maravai LifeSciences Holdings, Inc.</a> 7.4% HIGHER; reported Q2 EPS of $0.44, $0.13 better than the analyst estimate of $0.31. Revenue for the quarter came in at $217.8 million versus the consensus estimate of $192.29 million. Maravai LifeSciences sees FY2021 revenue of $745-770 million, versus the consensus of $709.65 million.</p><p><blockquote><a href=\"https://laohu8.com/S/MRVI\">马拉维生命科学控股公司。</a>高7.4%；报告第二季度每股收益为0.44美元，比分析师预期的0.31美元高出0.13美元。该季度营收为2.178亿美元，而市场普遍预期为1.9229亿美元。Maravai LifeSciences预计2021财年收入为7.45-7.7亿美元，而市场普遍预期为7.0965亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/TDUP\">ThredUp Inc.</a> 7.3% HIGHER; Another record-setting quarter with 27% year-over-year revenue growth</p><p><blockquote><a href=\"https://laohu8.com/S/TDUP\">ThredUp公司。</a>高7.3%；又一个创纪录的季度收入同比增长27%</blockquote></p><p> <a href=\"https://laohu8.com/S/GTES\">Gates Industrial Corp PLC</a> 6.2% LOWER; announced today that certain selling stockholders affiliated with The Blackstone Group Inc. have commenced a secondary offering of 25,000,000 of Gates' ordinary shares. In connection with the offering, the selling stockholders intend to grant to the underwriters a 30-day option to purchase up to 3,750,000 additional ordinary shares.</p><p><blockquote><a href=\"https://laohu8.com/S/GTES\">盖茨工业公司</a>下降6.2%；今天宣布，隶属于黑石集团公司的某些售股股东已开始二次发行25,000,000股盖茨普通股。就此次发行而言，售股股东打算向承销商授予30天的选择权，以购买最多3,750,000股额外普通股。</blockquote></p><p> <a href=\"https://laohu8.com/S/SKIN\">The Beauty Health Corp.</a> 5.3% HIGHER; reported Q2 EPS of ($1.52), versus ($0.30) reported last year. Revenue for the quarter came in at $66.5 million, versus $14.1 million reported last year.</p><p><blockquote><a href=\"https://laohu8.com/S/SKIN\">美容健康公司。</a>高5.3%；报告第二季度每股收益为（1.52美元），而去年报告为（0.30美元）。该季度收入为6650万美元，而去年为1410万美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/MCFE\">McAfee Corp.</a> 3.8% HIGHER; reported Q2 EPS of $0.21, $0.03 better than the analyst estimate of $0.18. Revenue for the quarter came in at $467 million versus the consensus estimate of $433.99 million. McAfee Corp. sees Q3 2021 revenue of $461-467 million, versus the consensus of $442.8 million. McAfee Corp. sees FY2021 revenue of $1.84-1.85 billion, versus the consensus of $1.79 billion.</p><p><blockquote><a href=\"https://laohu8.com/S/MCFE\">迈克菲公司。</a>高3.8%；报告第二季度每股收益为0.21美元，比分析师预期的0.18美元高出0.03美元。该季度营收为4.67亿美元，而市场普遍预期为4.3399亿美元。McAfee Corp.预计2021年第三季度收入为4.61-4.67亿美元，而市场普遍预期为4.428亿美元。McAfee Corp.预计2021财年营收为18.4-18.5亿美元，而市场普遍预期为17.9亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/OLO\">Olo Inc.</a> 3.7% LOWER; reported Q2 EPS of $0.03, $0.02 better than the analyst estimate of $0.01. Revenue for the quarter came in at $35.9 million versus the consensus estimate of $34.03 million. Olo Inc. sees Q3 2021 revenue of $36-36.5 million, versus the consensus of $34.65 million. Olo Inc. sees FY2021 revenue of $144.7-145.7 million, versus the consensus of $140.78 million.</p><p><blockquote><a href=\"https://laohu8.com/S/OLO\">奥洛公司。</a>下降3.7%；报告第二季度每股收益为0.03美元，比分析师预期的0.01美元好0.02美元。该季度营收为3590万美元，而市场普遍预期为3403万美元。Olo Inc.预计2021年第三季度收入为36-3650万美元，而市场普遍预期为3465万美元。Olo Inc.预计2021财年收入为1.447亿至1.457亿美元，而市场普遍预期为1.4078亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/LU\">Lufax</a> 1.9% HIGHER;&nbsp;Morgan Stanley&nbsp;upgraded from Equalweight to Overweight with a price target of $13.00 (from $14.80).</p><p><blockquote><a href=\"https://laohu8.com/S/LU\">陆金所</a>高1.9%；大摩将评级从等权重上调至跑赢大盘，目标价为13.00美元（原14.80美元）。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a> 0.7% HIGHER; reported Q2 EPS of $6.42, $4.18 better than the analyst estimate of $2.24. Revenue for the quarter came in at $2.23 billion versus the consensus estimate of $1.77 billion.</p><p><blockquote><a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>高0.7%；报告第二季度每股收益为6.42美元，比分析师预期的2.24美元高出4.18美元。该季度营收为22.3亿美元，而市场普遍预期为17.7亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines After Hours US Market on Tuesday<blockquote>周二美国市场盘后顶线</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines After Hours US Market on Tuesday<blockquote>周二美国市场盘后顶线</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\">2021-08-11 07:33</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>U.S. stock index futures were flat during overnight trading on Tuesday, after the Dow and S&amp;P 500 closed at&nbsp;record highs&nbsp;following the Senate passing the$1 trillion infrastructure bill.</p><p><blockquote>美国股指期货周二隔夜交易中持平，此前道指和标普500在参议院通过1万亿美元基础设施法案后收于历史新高。</blockquote></p><p> Futures contracts tied to the <a href=\"https://laohu8.com/S/.DJI\">DJIA</a> were slightly higher. <a href=\"https://laohu8.com/S/.SPX\">S&amp;P 500</a> futures and Nasdaq 100 futures were flat.</p><p><blockquote>期货合约与<a href=\"https://laohu8.com/S/.DJI\">道琼斯</a>略高。<a href=\"https://laohu8.com/S/.SPX\">标普500</a>期货、纳斯达克100期货持平。</blockquote></p><p> At 7:30&nbsp;p.m. ET, Dow e-minis were down 14 points, or 0.04%, S&amp;P 500 e-minis were down 2.50 points, or 0.06%, and Nasdaq 100 e-minis were down 8.25 points, or 0.05%.<img src=\"https://static.tigerbbs.com/bb78d3b983aa4d779cf3b1bdc234bd42\" tg-width=\"1125\" tg-height=\"413\" referrerpolicy=\"no-referrer\"></p><p><blockquote>晚上七点半。ET，道指e-minis下跌14点，跌幅0.04%，标普500 e-minis下跌2.50点，跌幅0.06%，纳斯达克100 e-minis下跌8.25点，跌幅0.05%。</blockquote></p><p> <b>Stocks making the biggest moves after hours:</b></p><p><blockquote><b>盘后涨幅最大的股票：</b></blockquote></p><p> <a href=\"https://laohu8.com/S/WW\">Weight Watchers International Inc</a>&nbsp;23.2% LOWER; reported Q2 EPS of $0.12, which may not compare to the analyst estimate of $0.65. Revenue for the quarter came in at $311 million versus the consensus estimate of $337.1 million.</p><p><blockquote><a href=\"https://laohu8.com/S/WW\">慧俪轻体国际公司</a>23.降低2%；报告第二季度每股收益为0.12美元，可能无法与分析师预期的0.65美元相比。该季度营收为3.11亿美元，而市场普遍预期为3.371亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/UPST\">Upstart Holdings, Inc.</a> 17.9% HIGHER; reported Q2 EPS of $0.62, $0.37 better than the analyst estimate of $0.25. Revenue for the quarter came in at $194 million versus the consensus estimate of $157.76 million. Upstart Holdings sees Q3 2021 revenue of $205-215 million, versus the consensus of $161.6 million.</p><p><blockquote><a href=\"https://laohu8.com/S/UPST\">新贵控股公司。</a>高17.9%；报告第二季度每股收益为0.62美元，比分析师预期的0.25美元高出0.37美元。该季度营收为1.94亿美元，而市场普遍预期为1.5776亿美元。Upstart Holdings预计2021年第三季度收入为2.05-2.15亿美元，而市场普遍预期为1.616亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/ONTF\">ON24, Inc.</a> 14.9% LOWER; reported Q2 EPS of $0.04, $0.04 better than the analyst estimate of $0.00. Revenue for the quarter came in at $52.1 million versus the consensus estimate of $51.03 million. ON24, Inc. sees Q3 2021 EPS of ($0.09)-($0.07), versus the consensus of ($0.05). ON24, Inc. sees Q3 2021 revenue of $47.5-48.5 million, versus the consensus of $51.2 million. ON24, Inc. sees FY2021 EPS of ($0.13)-($0.06), versus the consensus of ($0.04). ON24, Inc. sees FY2021 revenue of $201.2-204.2 million, versus the consensus of $209.2 million.</p><p><blockquote><a href=\"https://laohu8.com/S/ONTF\">ON24公司。</a>下降14.9%；报告第二季度每股收益为0.04美元，比分析师预期的0.00美元好0.04美元。该季度营收为5210万美元，而市场普遍预期为5103万美元。ON24，Inc.预计2021年第三季度每股收益为（0.09美元）-（0.07美元），而市场普遍预期为（0.05美元）。ON24，Inc.预计2021年第三季度收入为4750-4850万美元，而市场普遍预期为5120万美元。ON24，Inc.预计2021财年每股收益为（0.13美元）-（0.06美元），而市场普遍预期为（0.04美元）。ON24，Inc.预计2021财年收入为2.012亿至2.042亿美元，而市场普遍预期为2.092亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/LPRO\">Open Lending Corporation</a> 18.2% HIGHER; reported Q2 EPS of $0.60, $0.43 better than the analyst estimate of $0.17. Revenue for the quarter came in at $61.1 million versus the consensus estimate of $48.98 million. Open Lending Corp. sees FY2021 revenue of $184-234 million, versus the consensus of $216 million.</p><p><blockquote><a href=\"https://laohu8.com/S/LPRO\">开放借贷公司</a>高18.2%；报告第二季度每股收益为0.60美元，比分析师预期的0.17美元好0.43美元。该季度营收为6110万美元，而市场普遍预期为4898万美元。Open Lending Corp.预计2021财年收入为1.84-2.34亿美元，而市场普遍预期为2.16亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/FUBO\">fuboTV Inc.</a> 12.1% HIGHER; reported Q2 EPS of ($0.38), $0.12 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $130.9 million versus the consensus estimate of $118.88 million. fuboTV Inc. sees Q3 2021 revenue of $140-144 million, versus the consensus of $126.9 million. fuboTV Inc. sees FY2021 revenue of $560-570 million, versus the consensus of $531.7 million.</p><p><blockquote><a href=\"https://laohu8.com/S/FUBO\">富波电视公司。</a>高12.1%；报告第二季度每股收益为（0.38美元），比分析师预期的（0.50美元）高出0.12美元。该季度营收为1.309亿美元，而市场普遍预期为1.1888亿美元。fuboTV Inc.预计2021年第三季度收入为140-1.44亿美元，而市场普遍预期为1.269亿美元。fuboTV Inc.预计2021财年收入为5.60-5.7亿美元，而市场普遍预期为5.317亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/MRVI\">Maravai LifeSciences Holdings, Inc.</a> 7.4% HIGHER; reported Q2 EPS of $0.44, $0.13 better than the analyst estimate of $0.31. Revenue for the quarter came in at $217.8 million versus the consensus estimate of $192.29 million. Maravai LifeSciences sees FY2021 revenue of $745-770 million, versus the consensus of $709.65 million.</p><p><blockquote><a href=\"https://laohu8.com/S/MRVI\">马拉维生命科学控股公司。</a>高7.4%；报告第二季度每股收益为0.44美元，比分析师预期的0.31美元高出0.13美元。该季度营收为2.178亿美元，而市场普遍预期为1.9229亿美元。Maravai LifeSciences预计2021财年收入为7.45-7.7亿美元，而市场普遍预期为7.0965亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/TDUP\">ThredUp Inc.</a> 7.3% HIGHER; Another record-setting quarter with 27% year-over-year revenue growth</p><p><blockquote><a href=\"https://laohu8.com/S/TDUP\">ThredUp公司。</a>高7.3%；又一个创纪录的季度收入同比增长27%</blockquote></p><p> <a href=\"https://laohu8.com/S/GTES\">Gates Industrial Corp PLC</a> 6.2% LOWER; announced today that certain selling stockholders affiliated with The Blackstone Group Inc. have commenced a secondary offering of 25,000,000 of Gates' ordinary shares. In connection with the offering, the selling stockholders intend to grant to the underwriters a 30-day option to purchase up to 3,750,000 additional ordinary shares.</p><p><blockquote><a href=\"https://laohu8.com/S/GTES\">盖茨工业公司</a>下降6.2%；今天宣布，隶属于黑石集团公司的某些售股股东已开始二次发行25,000,000股盖茨普通股。就此次发行而言，售股股东打算向承销商授予30天的选择权，以购买最多3,750,000股额外普通股。</blockquote></p><p> <a href=\"https://laohu8.com/S/SKIN\">The Beauty Health Corp.</a> 5.3% HIGHER; reported Q2 EPS of ($1.52), versus ($0.30) reported last year. Revenue for the quarter came in at $66.5 million, versus $14.1 million reported last year.</p><p><blockquote><a href=\"https://laohu8.com/S/SKIN\">美容健康公司。</a>高5.3%；报告第二季度每股收益为（1.52美元），而去年报告为（0.30美元）。该季度收入为6650万美元，而去年为1410万美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/MCFE\">McAfee Corp.</a> 3.8% HIGHER; reported Q2 EPS of $0.21, $0.03 better than the analyst estimate of $0.18. Revenue for the quarter came in at $467 million versus the consensus estimate of $433.99 million. McAfee Corp. sees Q3 2021 revenue of $461-467 million, versus the consensus of $442.8 million. McAfee Corp. sees FY2021 revenue of $1.84-1.85 billion, versus the consensus of $1.79 billion.</p><p><blockquote><a href=\"https://laohu8.com/S/MCFE\">迈克菲公司。</a>高3.8%；报告第二季度每股收益为0.21美元，比分析师预期的0.18美元高出0.03美元。该季度营收为4.67亿美元，而市场普遍预期为4.3399亿美元。McAfee Corp.预计2021年第三季度收入为4.61-4.67亿美元，而市场普遍预期为4.428亿美元。McAfee Corp.预计2021财年营收为18.4-18.5亿美元，而市场普遍预期为17.9亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/OLO\">Olo Inc.</a> 3.7% LOWER; reported Q2 EPS of $0.03, $0.02 better than the analyst estimate of $0.01. Revenue for the quarter came in at $35.9 million versus the consensus estimate of $34.03 million. Olo Inc. sees Q3 2021 revenue of $36-36.5 million, versus the consensus of $34.65 million. Olo Inc. sees FY2021 revenue of $144.7-145.7 million, versus the consensus of $140.78 million.</p><p><blockquote><a href=\"https://laohu8.com/S/OLO\">奥洛公司。</a>下降3.7%；报告第二季度每股收益为0.03美元，比分析师预期的0.01美元好0.02美元。该季度营收为3590万美元，而市场普遍预期为3403万美元。Olo Inc.预计2021年第三季度收入为36-3650万美元，而市场普遍预期为3465万美元。Olo Inc.预计2021财年收入为1.447亿至1.457亿美元，而市场普遍预期为1.4078亿美元。</blockquote></p><p> <a href=\"https://laohu8.com/S/LU\">Lufax</a> 1.9% HIGHER;&nbsp;Morgan Stanley&nbsp;upgraded from Equalweight to Overweight with a price target of $13.00 (from $14.80).</p><p><blockquote><a href=\"https://laohu8.com/S/LU\">陆金所</a>高1.9%；大摩将评级从等权重上调至跑赢大盘，目标价为13.00美元（原14.80美元）。</blockquote></p><p></p><p> <a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a> 0.7% HIGHER; reported Q2 EPS of $6.42, $4.18 better than the analyst estimate of $2.24. Revenue for the quarter came in at $2.23 billion versus the consensus estimate of $1.77 billion.</p><p><blockquote><a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>高0.7%；报告第二季度每股收益为6.42美元，比分析师预期的2.24美元高出4.18美元。该季度营收为22.3亿美元，而市场普遍预期为17.7亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UPST":"Upstart Holdings, Inc.",".SPX":"S&P 500 Index","LPRO":"Open Lending Corporation","TDUP":"ThredUp Inc.",".DJI":"道琼斯","WW":"WW International, Inc.","OLO":"PowerShares DB Crude Oil Long ET",".IXIC":"NASDAQ Composite","COIN":"Coinbase Global, Inc.","FUBO":"fuboTV Inc.","SKIN":"The Beauty Health Corp.","NDX":"纳斯达克100指数","MCFE":"McAfee Corp.","LU":"陆金所","MRVI":"Maravai LifeSciences Holdings, Inc.","ONTF":"ON24, Inc.","GTES":"Gates Industrial Corp PLC"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195651017","content_text":"U.S. stock index futures were flat during overnight trading on Tuesday, after the Dow and S&P 500 closed at record highs following the Senate passing the$1 trillion infrastructure bill.\nFutures contracts tied to the DJIA were slightly higher. S&P 500 futures and Nasdaq 100 futures were flat.\nAt 7:30 p.m. ET, Dow e-minis were down 14 points, or 0.04%, S&P 500 e-minis were down 2.50 points, or 0.06%, and Nasdaq 100 e-minis were down 8.25 points, or 0.05%.\nStocks making the biggest moves after hours:\nWeight Watchers International Inc 23.2% LOWER; reported Q2 EPS of $0.12, which may not compare to the analyst estimate of $0.65. Revenue for the quarter came in at $311 million versus the consensus estimate of $337.1 million.\nUpstart Holdings, Inc. 17.9% HIGHER; reported Q2 EPS of $0.62, $0.37 better than the analyst estimate of $0.25. Revenue for the quarter came in at $194 million versus the consensus estimate of $157.76 million. Upstart Holdings sees Q3 2021 revenue of $205-215 million, versus the consensus of $161.6 million.\nON24, Inc. 14.9% LOWER; reported Q2 EPS of $0.04, $0.04 better than the analyst estimate of $0.00. Revenue for the quarter came in at $52.1 million versus the consensus estimate of $51.03 million. ON24, Inc. sees Q3 2021 EPS of ($0.09)-($0.07), versus the consensus of ($0.05). ON24, Inc. sees Q3 2021 revenue of $47.5-48.5 million, versus the consensus of $51.2 million. ON24, Inc. sees FY2021 EPS of ($0.13)-($0.06), versus the consensus of ($0.04). ON24, Inc. sees FY2021 revenue of $201.2-204.2 million, versus the consensus of $209.2 million.\nOpen Lending Corporation 18.2% HIGHER; reported Q2 EPS of $0.60, $0.43 better than the analyst estimate of $0.17. Revenue for the quarter came in at $61.1 million versus the consensus estimate of $48.98 million. Open Lending Corp. sees FY2021 revenue of $184-234 million, versus the consensus of $216 million.\nfuboTV Inc. 12.1% HIGHER; reported Q2 EPS of ($0.38), $0.12 better than the analyst estimate of ($0.50). Revenue for the quarter came in at $130.9 million versus the consensus estimate of $118.88 million. fuboTV Inc. sees Q3 2021 revenue of $140-144 million, versus the consensus of $126.9 million. fuboTV Inc. sees FY2021 revenue of $560-570 million, versus the consensus of $531.7 million.\nMaravai LifeSciences Holdings, Inc. 7.4% HIGHER; reported Q2 EPS of $0.44, $0.13 better than the analyst estimate of $0.31. Revenue for the quarter came in at $217.8 million versus the consensus estimate of $192.29 million. Maravai LifeSciences sees FY2021 revenue of $745-770 million, versus the consensus of $709.65 million.\nThredUp Inc. 7.3% HIGHER; Another record-setting quarter with 27% year-over-year revenue growth\nGates Industrial Corp PLC 6.2% LOWER; announced today that certain selling stockholders affiliated with The Blackstone Group Inc. have commenced a secondary offering of 25,000,000 of Gates' ordinary shares. In connection with the offering, the selling stockholders intend to grant to the underwriters a 30-day option to purchase up to 3,750,000 additional ordinary shares.\nThe Beauty Health Corp. 5.3% HIGHER; reported Q2 EPS of ($1.52), versus ($0.30) reported last year. Revenue for the quarter came in at $66.5 million, versus $14.1 million reported last year.\nMcAfee Corp. 3.8% HIGHER; reported Q2 EPS of $0.21, $0.03 better than the analyst estimate of $0.18. Revenue for the quarter came in at $467 million versus the consensus estimate of $433.99 million. McAfee Corp. sees Q3 2021 revenue of $461-467 million, versus the consensus of $442.8 million. McAfee Corp. sees FY2021 revenue of $1.84-1.85 billion, versus the consensus of $1.79 billion.\nOlo Inc. 3.7% LOWER; reported Q2 EPS of $0.03, $0.02 better than the analyst estimate of $0.01. Revenue for the quarter came in at $35.9 million versus the consensus estimate of $34.03 million. Olo Inc. sees Q3 2021 revenue of $36-36.5 million, versus the consensus of $34.65 million. Olo Inc. sees FY2021 revenue of $144.7-145.7 million, versus the consensus of $140.78 million.\nLufax 1.9% HIGHER; Morgan Stanley upgraded from Equalweight to Overweight with a price target of $13.00 (from $14.80).\nCoinbase Global, Inc. 0.7% HIGHER; reported Q2 EPS of $6.42, $4.18 better than the analyst estimate of $2.24. Revenue for the quarter came in at $2.23 billion versus the consensus estimate of $1.77 billion.","news_type":1,"symbols_score_info":{"UPST":0.9,"NDX":0.9,".DJI":0.9,"MCFE":0.9,".SPX":0.9,"MRVI":0.9,"FUBO":0.9,"LPRO":0.9,".IXIC":0.9,"TDUP":0.9,"WW":0.9,"OLO":0.9,"ONTF":0.9,"GTES":0.9,"LU":0.9,"SKIN":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":1556,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":896132887,"gmtCreate":1628560703149,"gmtModify":1631888585994,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"L &amp; C myself","listText":"L &amp; C myself","text":"L & C myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/896132887","repostId":"1196813173","repostType":4,"isVote":1,"tweetType":1,"viewCount":1925,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898870429,"gmtCreate":1628488077361,"gmtModify":1631888586012,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"L","listText":"L","text":"L","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/898870429","repostId":"1125584298","repostType":4,"repost":{"id":"1125584298","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1628487429,"share":"https://www.laohu8.com/m/news/1125584298?lang=zh_CN&edition=full","pubTime":"2021-08-09 13:37","market":"us","language":"en","title":"Coinbase Joins Google, Salesforce Among Most Active Venture Capital Investors<blockquote>Coinbase加入Google、Salesforce行列成为最活跃的风险投资投资者</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125584298","media":"Benzinga","summary":"Cryptocurrency exchange Coinbase Global, Inc.’s venture funding arm Coinbase Ventures was the third-","content":"<p>Cryptocurrency exchange&nbsp;<a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a>’s&nbsp;venture funding arm&nbsp;<b>Coinbase Ventures</b>&nbsp;was the third-most active corporate venture capital fund in the first half of 2021, according to data compiled by&nbsp;<b>CB Insights</b>,&nbsp;which keeps a track on private investments.</p><p><blockquote>加密货币交易所<a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>的风险投资部门<b>比特币基地风险投资公司</b>根据编制的数据，是2021年上半年第三活跃的企业风险投资基金<b>CB洞察</b>，跟踪私人投资。</blockquote></p><p> <b>What happened:</b>&nbsp;New to the list, Coinbase Ventures nearly doubled the number of investments it made in the first half this year, compared with the total deals that it made last year.</p><p><blockquote><b>发生了什么：</b>与去年的交易总数相比，Coinbase Ventures今年上半年的投资数量几乎翻了一番。</blockquote></p><p> With 37 deals, Coinbase Ventures invested in startups such as&nbsp;<b>Vega Protocol</b>, which is building a decentralized network for trading derivatives,&nbsp;<b>Bitcoin</b>&nbsp;(CRYPTO: BTC) self-storage startup&nbsp;<b>Casa</b>, and trading firm&nbsp;<b>Fractal</b>&nbsp;among others.</p><p><blockquote>Coinbase Ventures通过37笔交易投资了初创公司，例如<b>织女星协议</b>该公司正在建立一个分散的衍生品交易网络，<b>比特币</b>（加密货币：BTC）自助存储初创公司<b>卡萨</b>，和贸易公司<b>分形</b>除其他外。</blockquote></p><p> <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> private investment arm&nbsp;<b>Google Ventures</b>&nbsp;was on the most active fund and made it to the top of the list for the first-half with 64 dealcounts.Itis on track to exceed its 2020 investment activity of 82 deals.</p><p><blockquote><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>私人投资部门<b>谷歌风险投资</b>是最活跃的基金，上半年以64笔交易位居榜首。它有望超过2020年82笔交易的投资活动。</blockquote></p><p> <b>Salesforce Ventures</b>, the global investment arm of&nbsp;&nbsp;<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a> was close second at 59 deals, a roughly 50% increase from the first-half of 2020.</p><p><blockquote><b>Salesforce风险投资</b>，全球投资部门<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a>以59笔交易紧随其后，较2020年上半年增长约50%。</blockquote></p><p> <b>Why It Matters:</b>&nbsp;Global CVC-backed funding reached $79 billion across 2,099 deals in the first half of 2021 — more than the $74 billion invested in all of 2020.</p><p><blockquote><b>为什么重要：</b>2021年上半年，全球CVC支持的资金在2099笔交易中达到790亿美元，超过了2020年全年的740亿美元投资额。</blockquote></p><p> Corporate venture capital is the investment of corporate funds directly in external startup companies and have the potential to sign large cheques, thanks to their well-funded, bigger parents.</p><p><blockquote>企业风险投资是企业资金直接对外部创业公司的投资，由于其资金充足、规模更大的母公司，它们有可能签署大额支票。</blockquote></p><p> <b>Price Action:</b>&nbsp;Coinbase shares closed 1.08% higher at $258.26 on Friday.</p><p><blockquote><b>价格走势：</b>Coinbase股价周五收盘上涨1.08%，至258.26美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Joins Google, Salesforce Among Most Active Venture Capital Investors<blockquote>Coinbase加入Google、Salesforce行列成为最活跃的风险投资投资者</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{ 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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\">\nCoinbase Joins Google, Salesforce Among Most Active Venture Capital Investors<blockquote>Coinbase加入Google、Salesforce行列成为最活跃的风险投资投资者</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-08-09 13:37</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Cryptocurrency exchange&nbsp;<a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a>’s&nbsp;venture funding arm&nbsp;<b>Coinbase Ventures</b>&nbsp;was the third-most active corporate venture capital fund in the first half of 2021, according to data compiled by&nbsp;<b>CB Insights</b>,&nbsp;which keeps a track on private investments.</p><p><blockquote>加密货币交易所<a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>的风险投资部门<b>比特币基地风险投资公司</b>根据编制的数据，是2021年上半年第三活跃的企业风险投资基金<b>CB洞察</b>，跟踪私人投资。</blockquote></p><p> <b>What happened:</b>&nbsp;New to the list, Coinbase Ventures nearly doubled the number of investments it made in the first half this year, compared with the total deals that it made last year.</p><p><blockquote><b>发生了什么：</b>与去年的交易总数相比，Coinbase Ventures今年上半年的投资数量几乎翻了一番。</blockquote></p><p> With 37 deals, Coinbase Ventures invested in startups such as&nbsp;<b>Vega Protocol</b>, which is building a decentralized network for trading derivatives,&nbsp;<b>Bitcoin</b>&nbsp;(CRYPTO: BTC) self-storage startup&nbsp;<b>Casa</b>, and trading firm&nbsp;<b>Fractal</b>&nbsp;among others.</p><p><blockquote>Coinbase Ventures通过37笔交易投资了初创公司，例如<b>织女星协议</b>该公司正在建立一个分散的衍生品交易网络，<b>比特币</b>（加密货币：BTC）自助存储初创公司<b>卡萨</b>，和贸易公司<b>分形</b>除其他外。</blockquote></p><p> <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> private investment arm&nbsp;<b>Google Ventures</b>&nbsp;was on the most active fund and made it to the top of the list for the first-half with 64 dealcounts.Itis on track to exceed its 2020 investment activity of 82 deals.</p><p><blockquote><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>私人投资部门<b>谷歌风险投资</b>是最活跃的基金，上半年以64笔交易位居榜首。它有望超过2020年82笔交易的投资活动。</blockquote></p><p> <b>Salesforce Ventures</b>, the global investment arm of&nbsp;&nbsp;<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a> was close second at 59 deals, a roughly 50% increase from the first-half of 2020.</p><p><blockquote><b>Salesforce风险投资</b>，全球投资部门<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a>以59笔交易紧随其后，较2020年上半年增长约50%。</blockquote></p><p> <b>Why It Matters:</b>&nbsp;Global CVC-backed funding reached $79 billion across 2,099 deals in the first half of 2021 — more than the $74 billion invested in all of 2020.</p><p><blockquote><b>为什么重要：</b>2021年上半年，全球CVC支持的资金在2099笔交易中达到790亿美元，超过了2020年全年的740亿美元投资额。</blockquote></p><p> Corporate venture capital is the investment of corporate funds directly in external startup companies and have the potential to sign large cheques, thanks to their well-funded, bigger parents.</p><p><blockquote>企业风险投资是企业资金直接对外部创业公司的投资，由于其资金充足、规模更大的母公司，它们有可能签署大额支票。</blockquote></p><p> <b>Price Action:</b>&nbsp;Coinbase shares closed 1.08% higher at $258.26 on Friday.</p><p><blockquote><b>价格走势：</b>Coinbase股价周五收盘上涨1.08%，至258.26美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRM":"赛富时","COIN":"Coinbase Global, Inc.","GOOG":"谷歌"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125584298","content_text":"Cryptocurrency exchange Coinbase Global, Inc.’s venture funding arm Coinbase Ventures was the third-most active corporate venture capital fund in the first half of 2021, according to data compiled by CB Insights, which keeps a track on private investments.\nWhat happened: New to the list, Coinbase Ventures nearly doubled the number of investments it made in the first half this year, compared with the total deals that it made last year.\nWith 37 deals, Coinbase Ventures invested in startups such as Vega Protocol, which is building a decentralized network for trading derivatives, Bitcoin (CRYPTO: BTC) self-storage startup Casa, and trading firm Fractal among others.\nAlphabet private investment arm Google Ventures was on the most active fund and made it to the top of the list for the first-half with 64 dealcounts.Itis on track to exceed its 2020 investment activity of 82 deals.\nSalesforce Ventures, the global investment arm of  Salesforce.com was close second at 59 deals, a roughly 50% increase from the first-half of 2020.\nWhy It Matters: Global CVC-backed funding reached $79 billion across 2,099 deals in the first half of 2021 — more than the $74 billion invested in all of 2020.\nCorporate venture capital is the investment of corporate funds directly in external startup companies and have the potential to sign large cheques, thanks to their well-funded, bigger parents.\nPrice Action: Coinbase shares closed 1.08% higher at $258.26 on Friday.","news_type":1,"symbols_score_info":{"CRM":0.9,"GOOG":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":1125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":898035022,"gmtCreate":1628447784766,"gmtModify":1631888586022,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"L","listText":"L","text":"L","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/898035022","repostId":"1190347839","repostType":4,"isVote":1,"tweetType":1,"viewCount":1171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893967612,"gmtCreate":1628230686736,"gmtModify":1631888586035,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like 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myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/174757657","repostId":"1109439356","repostType":4,"isVote":1,"tweetType":1,"viewCount":1227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179085259,"gmtCreate":1626474633471,"gmtModify":1631888586111,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Comment &amp; like myself","listText":"Comment &amp; like myself","text":"Comment & like myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/179085259","repostId":"1169536573","repostType":4,"repost":{"id":"1169536573","kind":"news","pubTimestamp":1626448731,"share":"https://www.laohu8.com/m/news/1169536573?lang=zh_CN&edition=full","pubTime":"2021-07-16 23:18","market":"us","language":"en","title":"Coupa Shares Extend Losses After Post-Analyst Day Selloff<blockquote>分析师日抛售后，Coupa股价扩大跌幅</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169536573","media":"Thestreet","summary":"Coupa Software traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.Coupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.Analysts honed in on the more conservative outlook provided by Coupa's management team as the lik","content":"<p>Coupa Software(<b>COUP</b>)&nbsp;traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.</p><p><blockquote>Coupa软件（<b>COUP</b>）周五连续第二天走低，延续了周四近10%的跌幅，分析师在经历了令人失望的分析师日活动后重新评估了对这家财务管理软件公司的前景。</blockquote></p><p> Coupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.</p><p><blockquote>Coupa周四举办了虚拟分析师日，该平台提供商分享了有关其Coupa Pay服务的更多细节，并提供了有关其长期前景的最新信息。</blockquote></p><p> Analysts honed in on the more conservative outlook provided by Coupa's management team as the likely reason behind Thursday's selloff, though were generally sanguine about the company's longer-term prospects, with Piper Sandler one of the the few Wall Street investment firms to lower its one-year price target.</p><p><blockquote>分析师们认为Coupa管理团队提供的更为保守的前景可能是周四抛售背后的原因，但他们普遍对该公司的长期前景持乐观态度，Piper Sandler是少数几家下调一年股价的华尔街投资公司之一。价格目标。</blockquote></p><p> Piper Sandler analysts also focused on lack of progress with Coupa Pay, noting that “… considering the necessary conservatism that is needed to continue the well-known beat and raise cadence, the set-up was always less than ideal.” They held their overweight rating on the stock though lowered their price target to $295 from $300.</p><p><blockquote>Piper Sandler分析师还关注了Coupa Pay缺乏进展的问题，并指出“……考虑到继续众所周知的节拍和提高节奏所需的必要保守主义，这种设置总是不太理想。”他们维持对该股的跑赢大盘评级，但将目标价从300美元下调至295美元。</blockquote></p><p> Truist Securities was slightly more upbeat, though admitted investors “could have been disappointed by either what they heard from an attach rate perspective on Coupa Pay or potentially were disappointed that it’s likely a multi-year time line before Coupa Pay really moves the needle.” They held their buy rating and price target of $326.</p><p><blockquote>Truist Securities稍微乐观一些，尽管承认投资者“可能会对他们从Coupa Pay的附加利率角度听到的消息感到失望，或者可能会对Coupa Pay真正发挥作用可能需要多年时间线感到失望。”他们维持买入评级和326美元的目标价。</blockquote></p><p> Barclays analysts noted that while Coupa couldn’t meet “the very high expectations from the Street” for its Coupa Pay service it is maintaining its positive outlook. The investment bank held its equal weight rating on the shares and one-year price target of $250.</p><p><blockquote>巴克莱分析师指出，虽然Coupa无法满足“华尔街对其Coupa Pay服务的极高期望”，但它仍保持积极的前景。该投资银行维持该股等权重评级，一年目标价为250美元。</blockquote></p><p> Coupa shares plunged last monthafter the companyprovided a tepid forecastthat raised questions about its pace of billings growth.&nbsp;A number of analysts cut their price targets on the San Mateo, Calif., based company at the time, even after it reported a surprise profit and better-than-expected revenue forecasts.</p><p><blockquote>上个月，Coupa股价暴跌，此前该公司提供了一份不温不火的预测，引发了人们对其账单增长速度的质疑。当时，许多分析师下调了这家总部位于加州圣马特奥的公司的目标价，尽管该公司公布了意外的利润和好于预期的收入预测。</blockquote></p><p> At last check, Coupa shares were down 2.24% at $221.04. The stock has fallen 32.7% year to date.</p><p><blockquote>据上次检查，Coupa股价下跌2.24%，至221.04美元。该股今年迄今已下跌32.7%。</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>Coupa Shares Extend Losses After Post-Analyst Day Selloff<blockquote>分析师日抛售后，Coupa股价扩大跌幅</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\">\nCoupa Shares Extend Losses After Post-Analyst Day Selloff<blockquote>分析师日抛售后，Coupa股价扩大跌幅</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-16 23:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Coupa Software(<b>COUP</b>)&nbsp;traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.</p><p><blockquote>Coupa软件（<b>COUP</b>）周五连续第二天走低，延续了周四近10%的跌幅，分析师在经历了令人失望的分析师日活动后重新评估了对这家财务管理软件公司的前景。</blockquote></p><p> Coupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.</p><p><blockquote>Coupa周四举办了虚拟分析师日，该平台提供商分享了有关其Coupa Pay服务的更多细节，并提供了有关其长期前景的最新信息。</blockquote></p><p> Analysts honed in on the more conservative outlook provided by Coupa's management team as the likely reason behind Thursday's selloff, though were generally sanguine about the company's longer-term prospects, with Piper Sandler one of the the few Wall Street investment firms to lower its one-year price target.</p><p><blockquote>分析师们认为Coupa管理团队提供的更为保守的前景可能是周四抛售背后的原因，但他们普遍对该公司的长期前景持乐观态度，Piper Sandler是少数几家下调一年股价的华尔街投资公司之一。价格目标。</blockquote></p><p> Piper Sandler analysts also focused on lack of progress with Coupa Pay, noting that “… considering the necessary conservatism that is needed to continue the well-known beat and raise cadence, the set-up was always less than ideal.” They held their overweight rating on the stock though lowered their price target to $295 from $300.</p><p><blockquote>Piper Sandler分析师还关注了Coupa Pay缺乏进展的问题，并指出“……考虑到继续众所周知的节拍和提高节奏所需的必要保守主义，这种设置总是不太理想。”他们维持对该股的跑赢大盘评级，但将目标价从300美元下调至295美元。</blockquote></p><p> Truist Securities was slightly more upbeat, though admitted investors “could have been disappointed by either what they heard from an attach rate perspective on Coupa Pay or potentially were disappointed that it’s likely a multi-year time line before Coupa Pay really moves the needle.” They held their buy rating and price target of $326.</p><p><blockquote>Truist Securities稍微乐观一些，尽管承认投资者“可能会对他们从Coupa Pay的附加利率角度听到的消息感到失望，或者可能会对Coupa Pay真正发挥作用可能需要多年时间线感到失望。”他们维持买入评级和326美元的目标价。</blockquote></p><p> Barclays analysts noted that while Coupa couldn’t meet “the very high expectations from the Street” for its Coupa Pay service it is maintaining its positive outlook. The investment bank held its equal weight rating on the shares and one-year price target of $250.</p><p><blockquote>巴克莱分析师指出，虽然Coupa无法满足“华尔街对其Coupa Pay服务的极高期望”，但它仍保持积极的前景。该投资银行维持该股等权重评级，一年目标价为250美元。</blockquote></p><p> Coupa shares plunged last monthafter the companyprovided a tepid forecastthat raised questions about its pace of billings growth.&nbsp;A number of analysts cut their price targets on the San Mateo, Calif., based company at the time, even after it reported a surprise profit and better-than-expected revenue forecasts.</p><p><blockquote>上个月，Coupa股价暴跌，此前该公司提供了一份不温不火的预测，引发了人们对其账单增长速度的质疑。当时，许多分析师下调了这家总部位于加州圣马特奥的公司的目标价，尽管该公司公布了意外的利润和好于预期的收入预测。</blockquote></p><p> At last check, Coupa shares were down 2.24% at $221.04. The stock has fallen 32.7% year to date.</p><p><blockquote>据上次检查，Coupa股价下跌2.24%，至221.04美元。该股今年迄今已下跌32.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/coupa-software-coup-rebound-selloff-analysts\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COUP":"Coupa Software Inc"},"source_url":"https://www.thestreet.com/investing/coupa-software-coup-rebound-selloff-analysts","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169536573","content_text":"Coupa Software(COUP) traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.\nCoupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.\nAnalysts honed in on the more conservative outlook provided by Coupa's management team as the likely reason behind Thursday's selloff, though were generally sanguine about the company's longer-term prospects, with Piper Sandler one of the the few Wall Street investment firms to lower its one-year price target.\nPiper Sandler analysts also focused on lack of progress with Coupa Pay, noting that “… considering the necessary conservatism that is needed to continue the well-known beat and raise cadence, the set-up was always less than ideal.” They held their overweight rating on the stock though lowered their price target to $295 from $300.\nTruist Securities was slightly more upbeat, though admitted investors “could have been disappointed by either what they heard from an attach rate perspective on Coupa Pay or potentially were disappointed that it’s likely a multi-year time line before Coupa Pay really moves the needle.” They held their buy rating and price target of $326.\nBarclays analysts noted that while Coupa couldn’t meet “the very high expectations from the Street” for its Coupa Pay service it is maintaining its positive outlook. The investment bank held its equal weight rating on the shares and one-year price target of $250.\nCoupa shares plunged last monthafter the companyprovided a tepid forecastthat raised questions about its pace of billings growth. A number of analysts cut their price targets on the San Mateo, Calif., based company at the time, even after it reported a surprise profit and better-than-expected revenue forecasts.\nAt last check, Coupa shares were down 2.24% at $221.04. The stock has fallen 32.7% year to date.","news_type":1,"symbols_score_info":{"COUP":0.9}},"isVote":1,"tweetType":1,"viewCount":1367,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144626514,"gmtCreate":1626282355938,"gmtModify":1631891278451,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Comment &amp; like","listText":"Comment &amp; like","text":"Comment & like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/144626514","repostId":"1181513394","repostType":4,"isVote":1,"tweetType":1,"viewCount":565,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":142274589,"gmtCreate":1626157881941,"gmtModify":1631891278466,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/142274589","repostId":"1101566017","repostType":4,"isVote":1,"tweetType":1,"viewCount":399,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146171366,"gmtCreate":1626062510855,"gmtModify":1631891278478,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/146171366","repostId":"1114863871","repostType":4,"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148269309,"gmtCreate":1625979419601,"gmtModify":1631891278493,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like myself","listText":"Like myself","text":"Like myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/148269309","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://www.laohu8.com/m/news/1112201050?lang=zh_CN&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是单程旅行。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者并不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚法学院证券市场教授乔舒亚·米茨（Joshua Mits）说，“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人亏损了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。证交会主席盖瑞·根斯勒和一些国会议员讨论改变市场规则，意图增加透明度保护零售商——尽管如果改变交易速度减慢或让交易变得更贵，这些变化也可能激怒零售商群体。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</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 Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-11 09:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是单程旅行。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者并不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚法学院证券市场教授乔舒亚·米茨（Joshua Mits）说，“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人亏损了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。证交会主席盖瑞·根斯勒和一些国会议员讨论改变市场规则，意图增加透明度保护零售商——尽管如果改变交易速度减慢或让交易变得更贵，这些变化也可能激怒零售商群体。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BB":"黑莓","AMC":"AMC院线","NEGG":"Newegg Comm Inc.","GME":"游戏驿站","WKHS":"Workhorse Group, Inc.","CARV":"卡弗储蓄","CLOV":"Clover Health Corp","SCHW":"嘉信理财","BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”","news_type":1,"symbols_score_info":{"BBBY":0.9,"NEGG":0.9,"BB":0.9,"SCHW":0.9,"CARV":0.9,"WKHS":0.9,"MRIN":0.9,"AMC":0.9,"GME":0.9,"CLOV":0.9}},"isVote":1,"tweetType":1,"viewCount":428,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148902402,"gmtCreate":1625909253606,"gmtModify":1631891278505,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148902402","repostId":"1101087642","repostType":4,"isVote":1,"tweetType":1,"viewCount":374,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":149811637,"gmtCreate":1625713953929,"gmtModify":1631891278519,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Commen &amp; like myself","listText":"Commen &amp; like myself","text":"Commen & like myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/149811637","repostId":"1176865752","repostType":4,"isVote":1,"tweetType":1,"viewCount":499,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154959010,"gmtCreate":1625471883330,"gmtModify":1631891278533,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154959010","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152694827,"gmtCreate":1625286162969,"gmtModify":1631891278544,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like &amp; comment","listText":"Like &amp; comment","text":"Like & comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/152694827","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","kind":"news","pubTimestamp":1625276221,"share":"https://www.laohu8.com/m/news/1188153141?lang=zh_CN&edition=full","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-07-03 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">MoneyWise</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","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":621,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151602115,"gmtCreate":1625076077537,"gmtModify":1631891278557,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Comment","listText":"Comment","text":"Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/151602115","repostId":"1123487269","repostType":4,"isVote":1,"tweetType":1,"viewCount":287,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":151606387,"gmtCreate":1625076008549,"gmtModify":1631891278572,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Pls Like &amp; Comment","listText":"Pls Like &amp; Comment","text":"Pls Like & Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/151606387","repostId":"1105779613","repostType":4,"isVote":1,"tweetType":1,"viewCount":641,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":896132887,"gmtCreate":1628560703149,"gmtModify":1631888585994,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"L &amp; C myself","listText":"L &amp; C myself","text":"L & C myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":6,"repostSize":0,"link":"https://laohu8.com/post/896132887","repostId":"1196813173","repostType":4,"isVote":1,"tweetType":1,"viewCount":1925,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":152694827,"gmtCreate":1625286162969,"gmtModify":1631891278544,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like &amp; comment","listText":"Like &amp; comment","text":"Like & comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/152694827","repostId":"1188153141","repostType":4,"repost":{"id":"1188153141","kind":"news","pubTimestamp":1625276221,"share":"https://www.laohu8.com/m/news/1188153141?lang=zh_CN&edition=full","pubTime":"2021-07-03 09:37","market":"us","language":"en","title":"Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1188153141","media":"MoneyWise","summary":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for th","content":"<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>","source":"lsy1621813427262","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>Suze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSuze Orman worries about a market crash — here's what you should do<blockquote>Suze Orman担心市场崩盘——以下是您应该做的</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MoneyWise</strong><span class=\"h-time small\">2021-07-03 09:37</span>\n</p>\n</h4>\n</header>\n<article>\n<p>As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.</p><p><blockquote>随着股市继续创下纪录，新冠肺炎的影响继续给经济带来问题。</blockquote></p><p> That clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.</p><p><blockquote>这场冲突让投资专家感到担忧，其中包括苏茜·欧曼(Suze Orman)，她甚至表示，她现在正在为不可避免的市场崩盘做准备。</blockquote></p><p> And a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.</p><p><blockquote>沃伦·巴菲特推广的一项著名指标——巴菲特指标——表明奥曼可能有所发现。</blockquote></p><p> Here’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.</p><p><blockquote>以下解释了这种担忧的来源，以及即使市场下跌，您也可以使用一些技巧来保持投资组合的增长。</blockquote></p><p> <b>What does Suze Orman think?</b></p><p><blockquote><b>苏西·奥曼是怎么想的？</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/be8dc3ad363faad96bc575a22235562d\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Mediapunch/Shutterstock</p><p><blockquote>Mediapunch/Shutterstock</blockquote></p><p> Suze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.</p><p><blockquote>几十年来，Suze Orman一直热切关注市场。她知道起起落落是意料之中的，但她所看到的像游戏驿站这样的投资时尚所发生的事情让她感到担忧。</blockquote></p><p> “I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”</p><p><blockquote>“我不喜欢现在市场上发生的事情，”奥曼在CNBC的视频中表示。“经济一直很糟糕，但股市一直在上涨。”</blockquote></p><p> While investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.</p><p><blockquote>虽然现在投资就像使用智能手机应用程序一样容易，但奥曼担心我们能从这些历史高点走向何方。</blockquote></p><p> And even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.</p><p><blockquote>即使刺激支票仍在发放，房地产市场去年也打破了自己的记录，奥曼仍担心冠状病毒会带来什么——特别是在新变种不断出现的情况下。</blockquote></p><p> What's more, she feels it’s just been too long since the last crash to stay this high much longer.</p><p><blockquote>更重要的是，她觉得距离上次崩盘已经太久了，不能再保持这么高的高度了。</blockquote></p><p> “This reminds me of 2000 all over again,” Orman says.</p><p><blockquote>“这让我又想起了2000年，”奥曼说。</blockquote></p><p> <b>The Buffett Indicator</b></p><p><blockquote><b>巴菲特指标</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/44ada32ecadcc4581fed208f4f4e4d53\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Larry W Smith/EPA/Shutterstock</p><p><blockquote>拉里·W·史密斯/EPA/Shutterstock</blockquote></p><p> One metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.</p><p><blockquote>沃伦·巴菲特经常用来评估市场的一项指标，以他的名字命名，已经亮起红灯足够长的时间，以至于市场观察人士开始怀疑这是否是一个过时的工具。</blockquote></p><p> But the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.</p><p><blockquote>但衡量股市总价值与美国经济产出比率的巴菲特指标继续攀升至前所未有的水平。</blockquote></p><p> And those in the know are wondering if it's a sign that we’re about to see a hard fall.</p><p><blockquote>知情人士想知道这是否是我们即将看到严重下跌的迹象。</blockquote></p><p> How to prepare for a crash<img src=\"https://static.tigerbbs.com/1ad912a6b4611d9e39b46d2851c78c9e\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">Freedomz / Shutterstock</p><p><blockquote>如何为崩溃做好准备Freedomz/Shutterstock</blockquote></p><p> Orman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.</p><p><blockquote>Orman提出了三个建立简单投资策略的建议，以帮助您成功应对市场的任何急转弯。</blockquote></p><p> <b>1. Buy low</b></p><p><blockquote><b>1.低吸</b></blockquote></p><p> Part of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.</p><p><blockquote>奥曼对游戏驿站等模因股票的狂热感到如此不安的部分原因是，它完全违背了普通投资者的利益。</blockquote></p><p> “All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”</p><p><blockquote>“你们所有人的头都被拧到了后面，”她说。“你想要的只是这些市场不断上涨。这对你有什么好处？”</blockquote></p><p> She points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.</p><p><blockquote>她指出，大多数人唯一的额外资金用于投资401(k)或IRA计划的退休生活。</blockquote></p><p> Because you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.</p><p><blockquote>因为你可能几十年内都不打算碰这笔钱，所以最好的长期策略是低吸。这样，你的美元现在将走得更远，为未来20年、30年或40年留下足够的增长空间。</blockquote></p><p> <b>2. Invest on a schedule</b></p><p><blockquote><b>2.按计划投资</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/e4102f8a6d5002090743b1cbded32ef9\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">katjen / Shutterstock</p><p><blockquote>卡珍/Shutterstock</blockquote></p><p> While she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.</p><p><blockquote>虽然她更喜欢低价买入，但奥曼不建议你在市场上涨时完全停止投资。</blockquote></p><p> She wants casual investors to not get caught up in the daily ups and downs of the market.</p><p><blockquote>她希望普通投资者不要陷入市场每天的涨跌之中。</blockquote></p><p> In fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.</p><p><blockquote>事实上，现在为经济低迷欢呼可能是您获得更大份额利润丰厚的投资的最佳选择——就像一些幸运的投资者在2007年和2008年所做的那样。</blockquote></p><p> “When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”</p><p><blockquote>“当市场下跌、下跌、下跌时，你可以免费购买东西，”奥曼说。“现在看看15年后的它们。”</blockquote></p><p> She suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.</p><p><blockquote>她建议你建立一个平均成本策略，这意味着无论市场波动如何，你都要定期等量投资。</blockquote></p><p> This kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.</p><p><blockquote>这种方法很容易用目前可供DIY投资者使用的许多投资应用程序中的任何一个来实施。</blockquote></p><p> There are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.</p><p><blockquote>甚至有些应用程序会通过将您的借记卡和信用卡购买的金额四舍五入到最接近的美元来自动投资您的零钱。</blockquote></p><p> <b>3. Diversify with fractional shares</b></p><p><blockquote><b>3.通过零碎股份实现多元化</b></blockquote></p><p> To help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.</p><p><blockquote>为了帮助应对市场特定角落的下跌，奥曼建议您分散投资——通过投资多种不同类型的资产和经济部门来平衡您的投资组合。</blockquote></p><p> Orman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.</p><p><blockquote>奥曼特别推荐零股投资。这种方法允许你购买一家知名公司的一部分股份，否则你将买不起。</blockquote></p><p></p><p> With the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.</p><p><blockquote>在流行的股票交易工具的帮助下，任何预算的人都可以负担得起碎股策略。</blockquote></p><p> “The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”</p><p><blockquote>“你越早开始，你拥有的钱就越多，”奥曼说。“只是不要停下来，当这些市场下跌时，你应该很高兴，因为你的美元找到了更多的份额。”</blockquote></p><p> “And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”</p><p><blockquote>“你拥有的股票越多，20年、40年、50年后你拥有的钱就越多。”</blockquote></p><p> <b>What else you can do</b></p><p><blockquote><b>你还能做什么</b></blockquote></p><p> <img src=\"https://static.tigerbbs.com/5e79c6fd1f8fa6e3a7c3a6c94f1e14b5\" tg-width=\"703\" tg-height=\"293\" referrerpolicy=\"no-referrer\">goodluz / Shutterstock</p><p><blockquote>古德卢兹/Shutterstock</blockquote></p><p> Whether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.</p><p><blockquote>奥曼在CNBC视频中表示，无论大崩盘是否即将来临，距离退休还有几十年的投资者都可以利用这一点。</blockquote></p><p> First, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.</p><p><blockquote>第一，做最坏的打算，抱最好的希望。自从疫情爆发以来，奥曼现在建议每个人都有一个应急基金，可以支付他们一整年的费用。</blockquote></p><p> Then, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.</p><p><blockquote>然后，为了让自己过上舒适的退休生活，她建议您选择Roth账户，无论是401(k)还是IRA。</blockquote></p><p> That will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.</p><p><blockquote>这将帮助您在从退休账户中提取资金时避免纳税，因为您对罗斯账户的供款是税后进行的。另一方面，传统IRA在您缴款时无需纳税，因此您最终会稍后付款。</blockquote></p><p> If you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.</p><p><blockquote>如果您发现需要更多指导，与专业财务顾问合作可以帮助您指出正确的方向，以便您可以自信地度过任何市场波动。</blockquote></p><p> While everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.</p><p><blockquote>当其他人都在偏离路线或矫枉过正时，你将牢牢地坐在驾驶座上，计划好你的晚年。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html\">MoneyWise</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","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://finance.yahoo.com/news/suze-orman-worries-market-crash-220000108.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188153141","content_text":"As stock markets continue setting records, fallout from COVID-19 continues to create problems for the economy.\nThat clash has worried investing experts, including Suze Orman, who's gone so far as to say she’s now preparing for an inevitable market crash.\nAnd a famous measurement popularized by Warren Buffett — known as the Buffett Indicator — shows Orman might be onto something.\nHere’s an explanation of where the concern is coming from and some techniques you can use tokeep your investment portfolio growingeven if the market goes south.\nWhat does Suze Orman think?\nMediapunch/Shutterstock\nSuze Orman has avidly watched the market for decades. She knows ups and downs are to be expected, but what she’s seeing happen with investment fads like GameStop has her concerned.\n“I don’t like what I see happening in the market right now,” Orman said in a video for CNBC. “The economy has been horrible, but the stock market has been going.”\nWhile investing is as easy now asusing a smartphone app, Orman is concerned about where we can go from these record highs.\nAnd even with stimulus checks, which are still going out, and the real estate market breaking its own records last year, Orman worries about what will come with the coronavirus — especially as new variants continue to pop up.\nWhat's more, she feels it’s just been too long since the last crash to stay this high much longer.\n“This reminds me of 2000 all over again,” Orman says.\nThe Buffett Indicator\nLarry W Smith/EPA/Shutterstock\nOne metric Warren Buffett uses to assess the market so regularly that it’s been named after him has been flashing red for long enough that market watchers are starting to wonder if it’s an outdated tool.\nBut the Buffett Indicator, a measurement of the ratio of the stock market’s total value against U.S. economic output, continues to climb to previously unseen levels.\nAnd those in the know are wondering if it's a sign that we’re about to see a hard fall.\nHow to prepare for a crashFreedomz / Shutterstock\nOrman has three recommendations for setting up a simple investment strategy to help you successfully navigate any sharp turns in the market.\n1. Buy low\nPart of what upsets Orman so much about the furor over meme stocks like GameStop is it goes completely against the average investor’s interests.\n“All of you have your heads screwed on backwards,” she says. “All you want is for these markets to go up and up and up. What good is that going to do you?”\nShe points out the only extra money most people have goes towardinvesting for retirementin their 401(k) or IRA plans.\nBecause you probably don’t plan to touch that money for decades, the best long-term strategy is to buy low. That way, your dollar will go much further now, leaving plenty of room for growth over the next 20, 30 or 40 years.\n2. Invest on a schedule\nkatjen / Shutterstock\nWhile she prefers to buy low, Orman doesn’t recommend you stop investing completely when the market goes up.\nShe wants casual investors to not get caught up in the daily ups and downs of the market.\nIn fact, cheering for downturns now may be your best bet at getting a larger piece of very profitable investments — like some lucky investors were able to do back in 2007 and 2008.\n“When the market went down, down, down you could buy things at nothing,” says Orman. “And now look at them 15 years later.”\nShe suggests you set up a dollar-cost averaging strategy, which means you invest your money in equal portions at regular intervals, regardless of the market’s fluctuations.\nThis kind of approach is easy to implement with any of the many investing apps currently available to DIY investors.\nThere are even apps that willautomatically invest your spare changeby rounding up your debit and credit card purchases to the nearest dollar.\n3. Diversify with fractional shares\nTo help weather dips in specific corners of the market, Orman suggests you diversify your investments — balance your portfolio with investments in many different types of assets and sectors of the economy.\nOrman particularly recommends fractional-share investing. This approach allows you to buy a slice of a share for a big-name company that you otherwise wouldn’t be able to afford.\nWith the help of apopular stock-trading tool, anyone at any budget can afford the fractional share strategy.\n“The sooner you begin, the more money you will have,” says Orman. “Just don’t stop, and when these markets go down, you should be so happy because your dollars find more shares.”\n“And the more shares you have, the more money you’ll have 20, 40, 50 years from now.”\nWhat else you can do\ngoodluz / Shutterstock\nWhether or not a big crash is around the corner, investors who are still decades out from retirement can make that work for them, Orman said in theCNBC video.\nFirst, prepare for the worst and hope for the best. Since the onset of the pandemic, Orman now recommends everyone have an emergency fund that can cover their expenses for a full year.\nThen, to set yourself up fora comfortable retirement, she suggests you opt for a Roth account, whether that’s a 401(k) or IRA.\nThat will help you avoid paying tax when you take money out of your retirement account because your contributions to a Roth account are made after tax. Traditional IRAs, on the other hand, aren’t taxed when you make contributions, so you’ll end up paying later.\nIf you find you need a little more guidance, working with aprofessional financial adviser, can help point you in the right direction so you can confidently ride out any market volatility.\nWhile everyone else is veering off course or overcorrecting, you’ll be firmly in the driver’s seat with your sunset years planned for.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":621,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167752596,"gmtCreate":1624285875815,"gmtModify":1634008369385,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Pls help to Like &amp; Comment","listText":"Pls help to Like &amp; Comment","text":"Pls help to Like & Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://laohu8.com/post/167752596","repostId":"1154249454","repostType":4,"isVote":1,"tweetType":1,"viewCount":414,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893967612,"gmtCreate":1628230686736,"gmtModify":1631888586035,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like myself","listText":"Like myself","text":"Like myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/893967612","repostId":"1192335227","repostType":4,"isVote":1,"tweetType":1,"viewCount":1226,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148269309,"gmtCreate":1625979419601,"gmtModify":1631891278493,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like myself","listText":"Like myself","text":"Like myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/148269309","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://www.laohu8.com/m/news/1112201050?lang=zh_CN&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是单程旅行。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者并不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚法学院证券市场教授乔舒亚·米茨（Joshua Mits）说，“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人亏损了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。证交会主席盖瑞·根斯勒和一些国会议员讨论改变市场规则，意图增加透明度保护零售商——尽管如果改变交易速度减慢或让交易变得更贵，这些变化也可能激怒零售商群体。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</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 Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-11 09:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是单程旅行。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者并不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚法学院证券市场教授乔舒亚·米茨（Joshua Mits）说，“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人亏损了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。证交会主席盖瑞·根斯勒和一些国会议员讨论改变市场规则，意图增加透明度保护零售商——尽管如果改变交易速度减慢或让交易变得更贵，这些变化也可能激怒零售商群体。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">Barrons</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BB":"黑莓","AMC":"AMC院线","NEGG":"Newegg Comm Inc.","GME":"游戏驿站","WKHS":"Workhorse Group, Inc.","CARV":"卡弗储蓄","CLOV":"Clover Health Corp","SCHW":"嘉信理财","BBBY":"Bed Bath & Beyond, Inc."},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some 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Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1628487429,"share":"https://www.laohu8.com/m/news/1125584298?lang=zh_CN&edition=full","pubTime":"2021-08-09 13:37","market":"us","language":"en","title":"Coinbase Joins Google, Salesforce Among Most Active Venture Capital Investors<blockquote>Coinbase加入Google、Salesforce行列成为最活跃的风险投资投资者</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125584298","media":"Benzinga","summary":"Cryptocurrency exchange Coinbase Global, Inc.’s venture funding arm Coinbase Ventures was the third-","content":"<p>Cryptocurrency exchange&nbsp;<a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a>’s&nbsp;venture funding arm&nbsp;<b>Coinbase Ventures</b>&nbsp;was the third-most active corporate venture capital fund in the first half of 2021, according to data compiled by&nbsp;<b>CB Insights</b>,&nbsp;which keeps a track on private investments.</p><p><blockquote>加密货币交易所<a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>的风险投资部门<b>比特币基地风险投资公司</b>根据编制的数据，是2021年上半年第三活跃的企业风险投资基金<b>CB洞察</b>，跟踪私人投资。</blockquote></p><p> <b>What happened:</b>&nbsp;New to the list, Coinbase Ventures nearly doubled the number of investments it made in the first half this year, compared with the total deals that it made last year.</p><p><blockquote><b>发生了什么：</b>与去年的交易总数相比，Coinbase Ventures今年上半年的投资数量几乎翻了一番。</blockquote></p><p> With 37 deals, Coinbase Ventures invested in startups such as&nbsp;<b>Vega Protocol</b>, which is building a decentralized network for trading derivatives,&nbsp;<b>Bitcoin</b>&nbsp;(CRYPTO: BTC) self-storage startup&nbsp;<b>Casa</b>, and trading firm&nbsp;<b>Fractal</b>&nbsp;among others.</p><p><blockquote>Coinbase Ventures通过37笔交易投资了初创公司，例如<b>织女星协议</b>该公司正在建立一个分散的衍生品交易网络，<b>比特币</b>（加密货币：BTC）自助存储初创公司<b>卡萨</b>，和贸易公司<b>分形</b>除其他外。</blockquote></p><p> <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> private investment arm&nbsp;<b>Google Ventures</b>&nbsp;was on the most active fund and made it to the top of the list for the first-half with 64 dealcounts.Itis on track to exceed its 2020 investment activity of 82 deals.</p><p><blockquote><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>私人投资部门<b>谷歌风险投资</b>是最活跃的基金，上半年以64笔交易位居榜首。它有望超过2020年82笔交易的投资活动。</blockquote></p><p> <b>Salesforce Ventures</b>, the global investment arm of&nbsp;&nbsp;<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a> was close second at 59 deals, a roughly 50% increase from the first-half of 2020.</p><p><blockquote><b>Salesforce风险投资</b>，全球投资部门<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a>以59笔交易紧随其后，较2020年上半年增长约50%。</blockquote></p><p> <b>Why It Matters:</b>&nbsp;Global CVC-backed funding reached $79 billion across 2,099 deals in the first half of 2021 — more than the $74 billion invested in all of 2020.</p><p><blockquote><b>为什么重要：</b>2021年上半年，全球CVC支持的资金在2099笔交易中达到790亿美元，超过了2020年全年的740亿美元投资额。</blockquote></p><p> Corporate venture capital is the investment of corporate funds directly in external startup companies and have the potential to sign large cheques, thanks to their well-funded, bigger parents.</p><p><blockquote>企业风险投资是企业资金直接对外部创业公司的投资，由于其资金充足、规模更大的母公司，它们有可能签署大额支票。</blockquote></p><p> <b>Price Action:</b>&nbsp;Coinbase shares closed 1.08% higher at $258.26 on Friday.</p><p><blockquote><b>价格走势：</b>Coinbase股价周五收盘上涨1.08%，至258.26美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Coinbase Joins Google, Salesforce Among Most Active Venture Capital Investors<blockquote>Coinbase加入Google、Salesforce行列成为最活跃的风险投资投资者</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{ 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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\">\nCoinbase Joins Google, Salesforce Among Most Active Venture Capital Investors<blockquote>Coinbase加入Google、Salesforce行列成为最活跃的风险投资投资者</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-08-09 13:37</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Cryptocurrency exchange&nbsp;<a href=\"https://laohu8.com/S/COIN\">Coinbase Global, Inc.</a>’s&nbsp;venture funding arm&nbsp;<b>Coinbase Ventures</b>&nbsp;was the third-most active corporate venture capital fund in the first half of 2021, according to data compiled by&nbsp;<b>CB Insights</b>,&nbsp;which keeps a track on private investments.</p><p><blockquote>加密货币交易所<a href=\"https://laohu8.com/S/COIN\">比特币基地全球公司。</a>的风险投资部门<b>比特币基地风险投资公司</b>根据编制的数据，是2021年上半年第三活跃的企业风险投资基金<b>CB洞察</b>，跟踪私人投资。</blockquote></p><p> <b>What happened:</b>&nbsp;New to the list, Coinbase Ventures nearly doubled the number of investments it made in the first half this year, compared with the total deals that it made last year.</p><p><blockquote><b>发生了什么：</b>与去年的交易总数相比，Coinbase Ventures今年上半年的投资数量几乎翻了一番。</blockquote></p><p> With 37 deals, Coinbase Ventures invested in startups such as&nbsp;<b>Vega Protocol</b>, which is building a decentralized network for trading derivatives,&nbsp;<b>Bitcoin</b>&nbsp;(CRYPTO: BTC) self-storage startup&nbsp;<b>Casa</b>, and trading firm&nbsp;<b>Fractal</b>&nbsp;among others.</p><p><blockquote>Coinbase Ventures通过37笔交易投资了初创公司，例如<b>织女星协议</b>该公司正在建立一个分散的衍生品交易网络，<b>比特币</b>（加密货币：BTC）自助存储初创公司<b>卡萨</b>，和贸易公司<b>分形</b>除其他外。</blockquote></p><p> <a href=\"https://laohu8.com/S/GOOG\">Alphabet</a> private investment arm&nbsp;<b>Google Ventures</b>&nbsp;was on the most active fund and made it to the top of the list for the first-half with 64 dealcounts.Itis on track to exceed its 2020 investment activity of 82 deals.</p><p><blockquote><a href=\"https://laohu8.com/S/GOOG\">Alphabet</a>私人投资部门<b>谷歌风险投资</b>是最活跃的基金，上半年以64笔交易位居榜首。它有望超过2020年82笔交易的投资活动。</blockquote></p><p> <b>Salesforce Ventures</b>, the global investment arm of&nbsp;&nbsp;<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a> was close second at 59 deals, a roughly 50% increase from the first-half of 2020.</p><p><blockquote><b>Salesforce风险投资</b>，全球投资部门<a href=\"https://laohu8.com/S/CRM\">Salesforce.com</a>以59笔交易紧随其后，较2020年上半年增长约50%。</blockquote></p><p> <b>Why It Matters:</b>&nbsp;Global CVC-backed funding reached $79 billion across 2,099 deals in the first half of 2021 — more than the $74 billion invested in all of 2020.</p><p><blockquote><b>为什么重要：</b>2021年上半年，全球CVC支持的资金在2099笔交易中达到790亿美元，超过了2020年全年的740亿美元投资额。</blockquote></p><p> Corporate venture capital is the investment of corporate funds directly in external startup companies and have the potential to sign large cheques, thanks to their well-funded, bigger parents.</p><p><blockquote>企业风险投资是企业资金直接对外部创业公司的投资，由于其资金充足、规模更大的母公司，它们有可能签署大额支票。</blockquote></p><p> <b>Price Action:</b>&nbsp;Coinbase shares closed 1.08% higher at $258.26 on Friday.</p><p><blockquote><b>价格走势：</b>Coinbase股价周五收盘上涨1.08%，至258.26美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRM":"赛富时","COIN":"Coinbase Global, Inc.","GOOG":"谷歌"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125584298","content_text":"Cryptocurrency exchange Coinbase Global, Inc.’s venture funding arm Coinbase Ventures was the third-most active corporate venture capital fund in the first half of 2021, according to data compiled by CB Insights, which keeps a track on private investments.\nWhat happened: New to the list, Coinbase Ventures nearly doubled the number of investments it made in the first half this year, compared with the total deals that it made last year.\nWith 37 deals, Coinbase Ventures invested in startups such as Vega Protocol, which is building a decentralized network for trading derivatives, Bitcoin (CRYPTO: BTC) self-storage startup Casa, and trading firm Fractal among others.\nAlphabet private investment arm Google Ventures was on the most active fund and made it to the top of the list for the first-half with 64 dealcounts.Itis on track to exceed its 2020 investment activity of 82 deals.\nSalesforce Ventures, the global investment arm of  Salesforce.com was close second at 59 deals, a roughly 50% increase from the first-half of 2020.\nWhy It Matters: Global CVC-backed funding reached $79 billion across 2,099 deals in the first half of 2021 — more than the $74 billion invested in all of 2020.\nCorporate venture capital is the investment of corporate funds directly in external startup companies and have the potential to sign large cheques, thanks to their well-funded, bigger parents.\nPrice Action: Coinbase shares closed 1.08% higher at $258.26 on Friday.","news_type":1,"symbols_score_info":{"CRM":0.9,"GOOG":0.9,"COIN":0.9}},"isVote":1,"tweetType":1,"viewCount":1125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146171366,"gmtCreate":1626062510855,"gmtModify":1631891278478,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/146171366","repostId":"1114863871","repostType":4,"isVote":1,"tweetType":1,"viewCount":622,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159170029,"gmtCreate":1624952182561,"gmtModify":1633946587749,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Pls Like &amp; Comment","listText":"Pls Like &amp; Comment","text":"Pls Like & Comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/159170029","repostId":"1188493894","repostType":4,"isVote":1,"tweetType":1,"viewCount":319,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":116277589,"gmtCreate":1622808652041,"gmtModify":1634097823716,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Pls Comment &amp; Like","listText":"Pls Comment &amp; Like","text":"Pls Comment & Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/116277589","repostId":"1129306378","repostType":4,"repost":{"id":"1129306378","kind":"news","pubTimestamp":1622807232,"share":"https://www.laohu8.com/m/news/1129306378?lang=zh_CN&edition=full","pubTime":"2021-06-04 19:47","market":"us","language":"en","title":"ARKX Will Be ARK's Most Resilient ETF During The Coming Great Valuation Reset<blockquote>在即将到来的估值大重置期间，ARKX将成为ARK最具弹性的ETF</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1129306378","media":"seekingalpha","summary":"Summary\n\nInitial jobless claims is an important metric to follow because the Fed will taper and rais","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Initial jobless claims is an important metric to follow because the Fed will taper and raise interest rates when substantial progress is made towards maximum employment and 2% normalized inflation.</li>  <li>May's jobless claim (385,000) came in lower than consensus estimates (393,000), which suggests that substantial progress has been made and a great valuation reset will likely follow.</li>  <li>One way to mitigate devaluation during the great reset is to rotate into cash- or value-oriented stocks because companies with visible earnings sustain less devaluation from higher required return.</li>  <li>This article found that ARKX is most resilient to devaluation&nbsp;compared to other ARK ETFs&nbsp;because its holdings have the highest margin of safety (lowest PS ratio and PE ratio).</li>  <li>However, investors should note that ARKX has higher liquidity risk when interest rates rise due to higher exposure to aviation and negative net interest income.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe701ac0b2ef85e4c0d697823b9c964a\" tg-width=\"768\" tg-height=\"461\"><span>Photo by ra2studio/iStock via Getty Images</span></p><p><blockquote><ul><li>首次申请失业救济人数是一个值得关注的重要指标，因为当在实现最大就业和2%正常化通胀率方面取得实质性进展时，美联储将缩减和加息。</li><li>5月份申请失业救济人数（385,000人）低于普遍预期（393,000人），这表明已经取得了实质性进展，估值可能会大幅重置。</li><li>在大重置期间减轻贬值的一种方法是转向现金或价值导向型股票，因为具有可见收益的公司因所需回报较高而遭受的贬值较少。</li><li>本文发现，与其他ARK ETF相比，ARKX对贬值的弹性最强，因为其持有的股票具有最高的安全边际（最低的PS比率和PE比率）。</li><li>然而，投资者应注意，由于航空敞口较高且净利息收入为负，ARKX在利率上升时具有较高的流动性风险。</li></ul><p class=\"t-img-caption\"><span>摄影：ra2studio/iStock，来自Getty Images</span></p></blockquote></p><p> <b>Background</b></p><p><blockquote><b>背景</b></blockquote></p><p> Unemployment is a very closely monitored metric because of its significant implication on the stock market. According to Jerome Powell's&nbsp;guidance, the Fed will only consider tapering QE and increasing interest rates after substantial progress towards maximum employment and a normalized 2% inflation rate.</p><p><blockquote>失业率是一个受到密切监控的指标，因为它对股市有重大影响。根据杰罗姆·鲍威尔的指导，只有在就业最大化和2%通胀率正常化方面取得实质性进展后，美联储才会考虑缩减QE和加息。</blockquote></p><p> Analysts&nbsp;are speculating that the Fed will taper and increase interest rates as soon as this&nbsp;year-end. The initial jobless claims in May may have just validated their prediction. The jobless claim numbers&nbsp;released&nbsp;on Thursday are considered to be substantial progress for 2 reasons. Firstly, it fell below 400,000 for the first time since the Covid-19 pandemic. Secondly, the number (385,000) came lower than the consensus estimate (393,000).</p><p><blockquote>分析师猜测，美联储最快将在今年年底缩减并加息。5月份首次申请失业救济人数可能刚刚验证了他们的预测。周四公布的初请失业金人数被认为是实质性进展，原因有二。首先，自新冠肺炎疫情以来首次跌破40万。其次，这一数字（385,000）低于普遍估计（393,000）。</blockquote></p><p> If the analysts' predictions are realized, the great valuation that we all fear will very likely follow. In such circumstances, value-oriented stocks with strong and visible earnings will be more resilient than growth stocks.</p><p><blockquote>如果分析师的预测成真，我们都担心的高估值很可能会随之而来。在这种情况下，盈利强劲且可见的价值导向型股票将比成长型股票更具弹性。</blockquote></p><p> Cathie Wood ARK ETFs are known to focus on innovation and growth. She&nbsp;said&nbsp;that:</p><p><blockquote>众所周知，Cathie Wood ARK ETF专注于创新和增长。她说：</blockquote></p><p>   I do believe if rates were to take a sharp turn up, that we would see a valuation reset and our portfolios would be prime candidates for that valuation reset of course.  However, at that time, the ARK Space Exploration &amp; Innovation ETF(BATS:ARKX)has not been established yet. Therefore, ARKX may not be one of the prime candidates for a valuation reset. Furthermore, Cathie Wood said that investors could find many value-oriented stocks in ARKX. This should mean that ARKX should be more resilient than the other ARK ETFs.</p><p><blockquote>我确实相信，如果利率大幅上升，我们将看到估值重置，而我们的投资组合当然将是估值重置的主要候选者。然而，当时方舟太空探索与创新ETF（BATS：ARKX）尚未成立。因此，ARKX可能不是估值重置的主要候选者之一。此外，Cathie Wood表示，投资者可以在ARKX中找到许多价值导向的股票。这应该意味着ARKX应该比其他ARK ETF更具弹性。</blockquote></p><p> Therefore, this article examines how resilient ARKX is compared to the other ARK ETFs during a valuation reset.</p><p><blockquote>因此，本文研究了ARKX与其他ARK ETF相比在估值重置期间的弹性。</blockquote></p><p> Chart 1: Initial Jobless Claims</p><p><blockquote>图表1：首次申请失业救济人数</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a0522f63354ea6311fae61781d375935\" tg-width=\"640\" tg-height=\"390\"><span>Source:CNBC</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：CNBC</span></p></blockquote></p><p> <b>What is ARKX in the eyes of its creator?</b></p><p><blockquote><b>ARKX在其创造者眼中是什么？</b></blockquote></p><p> According to&nbsp;Cathie Wood, ARKX is currently mainly connectivity and precision agriculture with autonomous tractors and drones. These applications are powered by a common technology, a constellation of satellites. Other than connectivity and precision agriculture, hypersonic flights are also what ARKX is very interested in, and the involved companies tend to be value stocks.</p><p><blockquote>据Cathie Wood介绍，ARKX目前主要是拥有自主拖拉机和无人机的连接和精准农业。这些应用由一种通用技术——卫星星座——提供支持。除了连接和精准农业，高超音速飞行也是ARKX非常感兴趣的，涉及的公司往往是价值股。</blockquote></p><p> Therefore, ARKX's holdings are built around companies involved in those supply chains. ARKX's holdings as of 3rd June 2021 are presented in Table 1.</p><p><blockquote>因此，ARKX的持股是围绕参与这些供应链的公司建立的。截至2021年6月3日，ARKX的持股情况如表1所示。</blockquote></p><p> Table 1: ARKX's holdings as of 3rd June 2021</p><p><blockquote>表1：截至2021年6月3日ARKX的持股情况</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e1ff2f8e3046c7211d1b9738878e7c64\" tg-width=\"640\" tg-height=\"495\"><span>Source:ARK Invest</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：方舟投资</span></p></blockquote></p><p> <b>How do we examine a fund's resilience?</b></p><p><blockquote><b>我们如何考察基金的弹性？</b></blockquote></p><p> We're going to examine ARKX's resilience using the following metrics:</p><p><blockquote>我们将使用以下指标来检查ARKX的弹性：</blockquote></p><p> <ul>  <li>Distribution of profitable companies in each fund's top 10 holdings</li>  <li>Distribution of P/S ratio of each fund's top 10 holdings</li>  <li>Distribution of P/E ratio of each fund's top 10 holdings</li>  <li>Net interest income of each fund's top 10 holdings</li>  <li>Operating cash flow of each fund's top 10 holdings</li> </ul> These metrics are chosen using the following rationale:</p><p><blockquote><ul><li>各基金前十大重仓股中盈利公司分布</li><li>各基金前十大重仓股市盈率分布</li><li>各基金前十大重仓股市盈率分布</li><li>各基金前十大重仓股的净利息收入</li><li>各基金前十大重仓股经营现金流</li></ul>这些指标的选择依据如下：</blockquote></p><p></p><p> <ul>  <li>Profitable companies are less prone to valuation reset. Therefore, funds that hold more profitable companies are less prone to valuation reset as well. P/E and P/S ratios are chosen as a measurement of valuation.</li>  <li>Net interest income shows how much interest expense is incurred by the company. In contrast, companies with positive operating cash flow are less likely to borrow money when the cost of capital is expensive. Free cash flow isn't used because free cash flow can be derived from the sale of assets or financing.</li> </ul> <b>How resilient is ARKX in a valuation reset compared to other ARK ETFs?</b></p><p><blockquote><ul><li>盈利的公司不太容易出现估值重置。因此，持有盈利能力较强公司的基金也不太容易出现估值重置。市盈率和市盈率被选为估值的衡量标准。</li><li>净利息收入显示公司发生了多少利息支出。相比之下，当资金成本昂贵时，经营性现金流为正的公司不太可能借钱。不使用自由现金流，因为自由现金流可以来自出售资产或融资。</li></ul><b>与其他ARK ETF相比，ARKX在估值重置中的弹性如何？</b></blockquote></p><p> <b>Distribution of profitable companies in each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股盈利公司分布</b></blockquote></p><p> Chart 2 to Chart 5 illustrates the PE ratio of ARK ETFs' top 10 holdings. PE ratios of loss-making companies are not applicable. The distribution of profitable companies in each fund's top 10 holdings is presented in Table 2. We can observe that only 66% of ARKX's top 10 holdings are profitable. This is incomplete as the degree of profitability relative to its valuation is not considered.</p><p><blockquote>图2至图5显示了ARK ETF前10名持股的市盈率。亏损公司的市盈率不适用。各基金前10大重仓股中盈利公司分布如表2所示。我们可以观察到，ARKX的前10大持股中只有66%是盈利的。这是不完整的，因为没有考虑相对于其估值的盈利程度。</blockquote></p><p> Table 2: Distribution of Profitable Companies</p><p><blockquote>表2：盈利公司分布</blockquote></p><p> <table>  <tbody>   <tr>    <td>Funds</td>    <td>Distribution of Profitable Companies</td>   </tr>   <tr>    <td>ARKX</td>    <td>66%</td>   </tr>   <tr>    <td>ARKK/ARKW]]</td>    <td>60%</td>   </tr>   <tr>    <td>ARKQ</td>    <td>80%</td>   </tr>   <tr>    <td>ARKF</td>    <td>70%</td>   </tr>  </tbody> </table> Source: Author, YCharts</p><p><blockquote><table><tbody><tr><td>基金</td><td>盈利公司分布</td></tr><tr><td>ARKX</td><td>66%</td></tr><tr><td>方舟/方舟]]</td><td>60%</td></tr><tr><td>ARKQ</td><td>80%</td></tr><tr><td>ARKF</td><td>70%</td></tr></tbody></table>资料来源：作者，YCharts</blockquote></p><p> <b>Distribution of P/S ratio of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股市盈率分布</b></blockquote></p><p> PE ratio reflects a company's degree of profitability relative to its valuation. Our perspective changed when we consider the PE ratio of the funds' top 10 holdings. We observed that the PE ratio of ARKX's top 10 holdings is significantly lower than other ARK ETFs' top 10 holdings. This implies that ARKX's holdings have the highest margin of safety, such that ARKX is the least prone to sharp decline compared to other ARK ETFs.</p><p><blockquote>市盈率反映了公司相对于其估值的盈利程度。当我们考虑基金十大持股的市盈率时，我们的观点发生了变化。我们观察到，ARKX前10大重仓股的市盈率明显低于其他ARK ETF的前10大重仓股。这意味着ARKX的持股具有最高的安全边际，因此与其他ARK ETF相比，ARKX最不容易大幅下跌。</blockquote></p><p> Chart 2: PE ratio of ARKX's top 10 holdings</p><p><blockquote>图表2：ARKX前10大持股市盈率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d8c0516a04a4a867dc54427ef34c0d6\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 3: PE ratio of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表3：ARKK/ARKW前10大持股市盈率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25a88c68635ccc1bf173eab00cc98edf\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 4: PE ratio of ARKQ's top 10 holdings</p><p><blockquote>图表4：ARKQ前10大持股市盈率</blockquote></p><p> <img src=\"https://static.tigerbbs.com/754341910a51fce58308754d87316cba\" tg-width=\"640\" tg-height=\"563\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Chart 5: PE ratio of ARKF's top 10 holdings</p><p><blockquote>图表5：ARKF前10大持股市盈率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce029b11165323683df57983ffce549d\" tg-width=\"640\" tg-height=\"564\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Distribution of P/S ratio of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股市盈率分布</b></blockquote></p><p> Since the loss-making companies from ARK ETFs' top 10 holdings are not considered when analyzing PE ratio, we examine their PS ratio for a more robust comparison. Chart 6 to Chart 9 represents the PS ratio of ARK ETF's top 10 holdings.</p><p><blockquote>由于在分析市盈率时不考虑ARK ETF前10大持股中的亏损公司，因此我们检查它们的市盈率以进行更稳健的比较。图6至图9代表ARK ETF前10大持股的PS比率。</blockquote></p><p> The conclusion from the PS ratio comparison aligns with the PE ratio comparison. ARKX's top 10 holdings have the lowest PS ratio than the top 10 holdings of other ARK ETFs. This also implies that ARKX has the highest margin of safety compared to other ARK ETFs.</p><p><blockquote>PS比率比较的结论与PE比率比较一致。ARKX的前10名持股的市盈率低于其他ARK ETF的前10名持股。这也意味着与其他ARK ETF相比，ARKX具有最高的安全边际。</blockquote></p><p> Chart 6: PS ratio of ARKX's top 10 holdings</p><p><blockquote>图表6：ARKX前10大持股PS比率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/52762a7f513a9d130f9afd83ee2f5318\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 7: PS ratio of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表7：ARKK/ARKW前10大持仓PS比率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ddb55b54a5fe68eec46705578de503ef\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 8: PS ratio of ARKQ's top 10 holdings</p><p><blockquote>图表8：ARKQ前10大持股PS比率</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f640f1c7f7ade55aa406911da9db2374\" tg-width=\"640\" tg-height=\"556\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Chart 9: PS ratio of ARKF's top 10 holdings</p><p><blockquote>图表9：ARKF前10大持股PS比率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6451ac91204829c35c47989cb4f6a696\" tg-width=\"640\" tg-height=\"561\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Net interest income of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股的净利息收入</b></blockquote></p><p> Chart 10 to Chart 13 represents the net interest income of ARK ETF's top 10 holdings. The higher the net interest income, the better. This is because higher interest rates will boost both interest income and interest expense.</p><p><blockquote>图10至图13代表了ARK ETF前10大持股的净利息收入。净利息收入越高越好。这是因为较高的利率将增加利息收入和利息支出。</blockquote></p><p> ARKX's top 10 holdings have the worse net interest income, where only 1 of the 10 companies enjoys positive net interest income. We found that this is due to higher exposure to aviation-related companies. For instance, Boeing (BA) has taken a $13.8bil loan to help deal with cash burns due to the pandemic.</p><p><blockquote>ARKX前10大持股的净利息收入最差，10家公司中只有1家净利息收入为正。我们发现，这是由于对航空相关公司的敞口较高。例如，波音(BA)已获得138亿美元贷款，以帮助应对疫情造成的现金消耗。</blockquote></p><p></p><p> Nevertheless, ARKX's holdings are likely to suffer more interest expense (and decreased earnings) as the Fed&nbsp;starts&nbsp;selling corporate bonds and raise interest rates. If interest rates become too burdensome, these holdings might even face higher liquidity risks than other ARK ETFs' holdings. Therefore, ARKX is not as resilient to rising interest rates compared to other ARK ETFs.</p><p><blockquote>尽管如此，随着美联储开始出售公司债券并提高利率，ARKX的持股可能会遭受更多的利息支出（以及收益下降）。如果利率变得过于沉重，这些持有的股票甚至可能比其他ARK ETF持有的股票面临更高的流动性风险。因此，与其他ARK ETF相比，ARKX对利率上升的弹性并不那么强。</blockquote></p><p> Chart 10: Net Interest Income of ARKX's top 10 holdings</p><p><blockquote>图表10：ARKX前10大持股净利息收入</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aae97de917f8f8453ddc2122842575c3\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 11: Net Interest Income of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表11：ARKK/ARKW前十大持仓股的净利息收入</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/91020c77a6f72b41e4e2f751d792cc9b\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 12: Net Interest Income of ARKQ's top 10 holdings</p><p><blockquote>图表12：ARKQ前十大持股的净利息收入</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a3127f54419a06a34266c0ff575b051e\" tg-width=\"640\" tg-height=\"561\"></p><p><blockquote></blockquote></p><p> Chart 13: Net Interest Income of ARKF's top 10 holdings</p><p><blockquote>图表13：ARKF前10大持股的净利息收入</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4078bb131d967717ec7b7b8abe6c2fc7\" tg-width=\"640\" tg-height=\"563\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Operating cash flow of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股经营现金流</b></blockquote></p><p> In terms of cash flow from operating activities, the top 10 holdings of ARK ETFs have similar performance, except Boeing. This means that ARK ETFs' top 10 holdings can generate cash flow from its core business. Hence it is less likely that the companies will require debt for operation when interest rates rise. No standout winner in this category.</p><p><blockquote>在经营活动现金流方面，ARK ETF的前10大重仓股表现类似，除了波音。这意味着ARK ETF的前10大持股可以从其核心业务中产生现金流。因此，当利率上升时，这些公司不太可能需要债务来运营。这个类别中没有突出的赢家。</blockquote></p><p> Chart 14: Operating cash flow of ARKX's top 10 holdings</p><p><blockquote>图表14：ARKX前10大持股的经营性现金流</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/97cfa80d6884328c6b12398286388af1\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 15: Operating cash flow of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表15：ARKK/ARKW前十大持仓股经营性现金流</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/865551e5dfc447955b74b3a08dddffaf\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 16: Operating cash flow of ARKQ's top 10 holdings</p><p><blockquote>图表16：ARKQ前十大持股的经营性现金流</blockquote></p><p> <img src=\"https://static.tigerbbs.com/51cc4f2b3d1d067ae8a19638c12c534b\" tg-width=\"640\" tg-height=\"561\"></p><p><blockquote></blockquote></p><p> Chart 17: Operating cash flow of ARKF's top 10 holdings</p><p><blockquote>图表17：ARKF前10大持股的经营性现金流</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c6e8f179f43f3be1ad1efc323a038e7d\" tg-width=\"640\" tg-height=\"564\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Conclusion and final remark</b></p><p><blockquote><b>结论和结束语</b></blockquote></p><p> May's initial jobless claims can be considered as the substantial progress the Fed is referring to. A great valuation will likely follow in the event of the Fed's taper tantrum and rising interest rates. Therefore, it is important to rotate into cash- or value-oriented stock as companies with visible earnings will sustain less devaluation from higher required returns.</p><p><blockquote>5月份的首次申请失业救济人数可以被认为是美联储所指的实质性进展。如果美联储缩减规模和利率上升，估值可能会随之而来。因此，转向现金或价值导向型股票非常重要，因为具有可见收益的公司将因较高的要求回报而承受较少的贬值。</blockquote></p><p> Cathie Wood claimed that ARKX has a lot of value-oriented companies. This is true, as evident from the PS ratio and PE ratio of ARK ETFs' top 10 holdings. Therefore, ARKX is indeed more resilient to devaluation from rising interest rates.</p><p><blockquote>Cathie Wood声称ARKX有很多以价值为导向的公司。这是事实，从ARK ETF前10大持股的市盈率和市盈率中可以明显看出。因此，ARKX确实对利率上升导致的贬值更具弹性。</blockquote></p><p> However, investors should note that ARKX's holdings are more prone to liquidity risks as its holdings are more exposed to aviation-related companies such as Boeing.</p><p><blockquote>然而，投资者应该注意到，ARKX的持股更容易面临流动性风险，因为其持股更多地暴露于波音等航空相关公司。</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>ARKX Will Be ARK's Most Resilient ETF During The Coming Great Valuation Reset<blockquote>在即将到来的估值大重置期间，ARKX将成为ARK最具弹性的ETF</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nARKX Will Be ARK's Most Resilient ETF During The Coming Great Valuation Reset<blockquote>在即将到来的估值大重置期间，ARKX将成为ARK最具弹性的ETF</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-04 19:47</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>Initial jobless claims is an important metric to follow because the Fed will taper and raise interest rates when substantial progress is made towards maximum employment and 2% normalized inflation.</li>  <li>May's jobless claim (385,000) came in lower than consensus estimates (393,000), which suggests that substantial progress has been made and a great valuation reset will likely follow.</li>  <li>One way to mitigate devaluation during the great reset is to rotate into cash- or value-oriented stocks because companies with visible earnings sustain less devaluation from higher required return.</li>  <li>This article found that ARKX is most resilient to devaluation&nbsp;compared to other ARK ETFs&nbsp;because its holdings have the highest margin of safety (lowest PS ratio and PE ratio).</li>  <li>However, investors should note that ARKX has higher liquidity risk when interest rates rise due to higher exposure to aviation and negative net interest income.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fe701ac0b2ef85e4c0d697823b9c964a\" tg-width=\"768\" tg-height=\"461\"><span>Photo by ra2studio/iStock via Getty Images</span></p><p><blockquote><ul><li>首次申请失业救济人数是一个值得关注的重要指标，因为当在实现最大就业和2%正常化通胀率方面取得实质性进展时，美联储将缩减和加息。</li><li>5月份申请失业救济人数（385,000人）低于普遍预期（393,000人），这表明已经取得了实质性进展，估值可能会大幅重置。</li><li>在大重置期间减轻贬值的一种方法是转向现金或价值导向型股票，因为具有可见收益的公司因所需回报较高而遭受的贬值较少。</li><li>本文发现，与其他ARK ETF相比，ARKX对贬值的弹性最强，因为其持有的股票具有最高的安全边际（最低的PS比率和PE比率）。</li><li>然而，投资者应注意，由于航空敞口较高且净利息收入为负，ARKX在利率上升时具有较高的流动性风险。</li></ul><p class=\"t-img-caption\"><span>摄影：ra2studio/iStock，来自Getty Images</span></p></blockquote></p><p> <b>Background</b></p><p><blockquote><b>背景</b></blockquote></p><p> Unemployment is a very closely monitored metric because of its significant implication on the stock market. According to Jerome Powell's&nbsp;guidance, the Fed will only consider tapering QE and increasing interest rates after substantial progress towards maximum employment and a normalized 2% inflation rate.</p><p><blockquote>失业率是一个受到密切监控的指标，因为它对股市有重大影响。根据杰罗姆·鲍威尔的指导，只有在就业最大化和2%通胀率正常化方面取得实质性进展后，美联储才会考虑缩减QE和加息。</blockquote></p><p> Analysts&nbsp;are speculating that the Fed will taper and increase interest rates as soon as this&nbsp;year-end. The initial jobless claims in May may have just validated their prediction. The jobless claim numbers&nbsp;released&nbsp;on Thursday are considered to be substantial progress for 2 reasons. Firstly, it fell below 400,000 for the first time since the Covid-19 pandemic. Secondly, the number (385,000) came lower than the consensus estimate (393,000).</p><p><blockquote>分析师猜测，美联储最快将在今年年底缩减并加息。5月份首次申请失业救济人数可能刚刚验证了他们的预测。周四公布的初请失业金人数被认为是实质性进展，原因有二。首先，自新冠肺炎疫情以来首次跌破40万。其次，这一数字（385,000）低于普遍估计（393,000）。</blockquote></p><p> If the analysts' predictions are realized, the great valuation that we all fear will very likely follow. In such circumstances, value-oriented stocks with strong and visible earnings will be more resilient than growth stocks.</p><p><blockquote>如果分析师的预测成真，我们都担心的高估值很可能会随之而来。在这种情况下，盈利强劲且可见的价值导向型股票将比成长型股票更具弹性。</blockquote></p><p> Cathie Wood ARK ETFs are known to focus on innovation and growth. She&nbsp;said&nbsp;that:</p><p><blockquote>众所周知，Cathie Wood ARK ETF专注于创新和增长。她说：</blockquote></p><p>   I do believe if rates were to take a sharp turn up, that we would see a valuation reset and our portfolios would be prime candidates for that valuation reset of course.  However, at that time, the ARK Space Exploration &amp; Innovation ETF(BATS:ARKX)has not been established yet. Therefore, ARKX may not be one of the prime candidates for a valuation reset. Furthermore, Cathie Wood said that investors could find many value-oriented stocks in ARKX. This should mean that ARKX should be more resilient than the other ARK ETFs.</p><p><blockquote>我确实相信，如果利率大幅上升，我们将看到估值重置，而我们的投资组合当然将是估值重置的主要候选者。然而，当时方舟太空探索与创新ETF（BATS：ARKX）尚未成立。因此，ARKX可能不是估值重置的主要候选者之一。此外，Cathie Wood表示，投资者可以在ARKX中找到许多价值导向的股票。这应该意味着ARKX应该比其他ARK ETF更具弹性。</blockquote></p><p> Therefore, this article examines how resilient ARKX is compared to the other ARK ETFs during a valuation reset.</p><p><blockquote>因此，本文研究了ARKX与其他ARK ETF相比在估值重置期间的弹性。</blockquote></p><p> Chart 1: Initial Jobless Claims</p><p><blockquote>图表1：首次申请失业救济人数</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a0522f63354ea6311fae61781d375935\" tg-width=\"640\" tg-height=\"390\"><span>Source:CNBC</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：CNBC</span></p></blockquote></p><p> <b>What is ARKX in the eyes of its creator?</b></p><p><blockquote><b>ARKX在其创造者眼中是什么？</b></blockquote></p><p> According to&nbsp;Cathie Wood, ARKX is currently mainly connectivity and precision agriculture with autonomous tractors and drones. These applications are powered by a common technology, a constellation of satellites. Other than connectivity and precision agriculture, hypersonic flights are also what ARKX is very interested in, and the involved companies tend to be value stocks.</p><p><blockquote>据Cathie Wood介绍，ARKX目前主要是拥有自主拖拉机和无人机的连接和精准农业。这些应用由一种通用技术——卫星星座——提供支持。除了连接和精准农业，高超音速飞行也是ARKX非常感兴趣的，涉及的公司往往是价值股。</blockquote></p><p> Therefore, ARKX's holdings are built around companies involved in those supply chains. ARKX's holdings as of 3rd June 2021 are presented in Table 1.</p><p><blockquote>因此，ARKX的持股是围绕参与这些供应链的公司建立的。截至2021年6月3日，ARKX的持股情况如表1所示。</blockquote></p><p> Table 1: ARKX's holdings as of 3rd June 2021</p><p><blockquote>表1：截至2021年6月3日ARKX的持股情况</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e1ff2f8e3046c7211d1b9738878e7c64\" tg-width=\"640\" tg-height=\"495\"><span>Source:ARK Invest</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：方舟投资</span></p></blockquote></p><p> <b>How do we examine a fund's resilience?</b></p><p><blockquote><b>我们如何考察基金的弹性？</b></blockquote></p><p> We're going to examine ARKX's resilience using the following metrics:</p><p><blockquote>我们将使用以下指标来检查ARKX的弹性：</blockquote></p><p> <ul>  <li>Distribution of profitable companies in each fund's top 10 holdings</li>  <li>Distribution of P/S ratio of each fund's top 10 holdings</li>  <li>Distribution of P/E ratio of each fund's top 10 holdings</li>  <li>Net interest income of each fund's top 10 holdings</li>  <li>Operating cash flow of each fund's top 10 holdings</li> </ul> These metrics are chosen using the following rationale:</p><p><blockquote><ul><li>各基金前十大重仓股中盈利公司分布</li><li>各基金前十大重仓股市盈率分布</li><li>各基金前十大重仓股市盈率分布</li><li>各基金前十大重仓股的净利息收入</li><li>各基金前十大重仓股经营现金流</li></ul>这些指标的选择依据如下：</blockquote></p><p></p><p> <ul>  <li>Profitable companies are less prone to valuation reset. Therefore, funds that hold more profitable companies are less prone to valuation reset as well. P/E and P/S ratios are chosen as a measurement of valuation.</li>  <li>Net interest income shows how much interest expense is incurred by the company. In contrast, companies with positive operating cash flow are less likely to borrow money when the cost of capital is expensive. Free cash flow isn't used because free cash flow can be derived from the sale of assets or financing.</li> </ul> <b>How resilient is ARKX in a valuation reset compared to other ARK ETFs?</b></p><p><blockquote><ul><li>盈利的公司不太容易出现估值重置。因此，持有盈利能力较强公司的基金也不太容易出现估值重置。市盈率和市盈率被选为估值的衡量标准。</li><li>净利息收入显示公司发生了多少利息支出。相比之下，当资金成本昂贵时，经营性现金流为正的公司不太可能借钱。不使用自由现金流，因为自由现金流可以来自出售资产或融资。</li></ul><b>与其他ARK ETF相比，ARKX在估值重置中的弹性如何？</b></blockquote></p><p> <b>Distribution of profitable companies in each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股盈利公司分布</b></blockquote></p><p> Chart 2 to Chart 5 illustrates the PE ratio of ARK ETFs' top 10 holdings. PE ratios of loss-making companies are not applicable. The distribution of profitable companies in each fund's top 10 holdings is presented in Table 2. We can observe that only 66% of ARKX's top 10 holdings are profitable. This is incomplete as the degree of profitability relative to its valuation is not considered.</p><p><blockquote>图2至图5显示了ARK ETF前10名持股的市盈率。亏损公司的市盈率不适用。各基金前10大重仓股中盈利公司分布如表2所示。我们可以观察到，ARKX的前10大持股中只有66%是盈利的。这是不完整的，因为没有考虑相对于其估值的盈利程度。</blockquote></p><p> Table 2: Distribution of Profitable Companies</p><p><blockquote>表2：盈利公司分布</blockquote></p><p> <table>  <tbody>   <tr>    <td>Funds</td>    <td>Distribution of Profitable Companies</td>   </tr>   <tr>    <td>ARKX</td>    <td>66%</td>   </tr>   <tr>    <td>ARKK/ARKW]]</td>    <td>60%</td>   </tr>   <tr>    <td>ARKQ</td>    <td>80%</td>   </tr>   <tr>    <td>ARKF</td>    <td>70%</td>   </tr>  </tbody> </table> Source: Author, YCharts</p><p><blockquote><table><tbody><tr><td>基金</td><td>盈利公司分布</td></tr><tr><td>ARKX</td><td>66%</td></tr><tr><td>方舟/方舟]]</td><td>60%</td></tr><tr><td>ARKQ</td><td>80%</td></tr><tr><td>ARKF</td><td>70%</td></tr></tbody></table>资料来源：作者，YCharts</blockquote></p><p> <b>Distribution of P/S ratio of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股市盈率分布</b></blockquote></p><p> PE ratio reflects a company's degree of profitability relative to its valuation. Our perspective changed when we consider the PE ratio of the funds' top 10 holdings. We observed that the PE ratio of ARKX's top 10 holdings is significantly lower than other ARK ETFs' top 10 holdings. This implies that ARKX's holdings have the highest margin of safety, such that ARKX is the least prone to sharp decline compared to other ARK ETFs.</p><p><blockquote>市盈率反映了公司相对于其估值的盈利程度。当我们考虑基金十大持股的市盈率时，我们的观点发生了变化。我们观察到，ARKX前10大重仓股的市盈率明显低于其他ARK ETF的前10大重仓股。这意味着ARKX的持股具有最高的安全边际，因此与其他ARK ETF相比，ARKX最不容易大幅下跌。</blockquote></p><p> Chart 2: PE ratio of ARKX's top 10 holdings</p><p><blockquote>图表2：ARKX前10大持股市盈率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9d8c0516a04a4a867dc54427ef34c0d6\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 3: PE ratio of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表3：ARKK/ARKW前10大持股市盈率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/25a88c68635ccc1bf173eab00cc98edf\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 4: PE ratio of ARKQ's top 10 holdings</p><p><blockquote>图表4：ARKQ前10大持股市盈率</blockquote></p><p> <img src=\"https://static.tigerbbs.com/754341910a51fce58308754d87316cba\" tg-width=\"640\" tg-height=\"563\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Chart 5: PE ratio of ARKF's top 10 holdings</p><p><blockquote>图表5：ARKF前10大持股市盈率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce029b11165323683df57983ffce549d\" tg-width=\"640\" tg-height=\"564\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Distribution of P/S ratio of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股市盈率分布</b></blockquote></p><p> Since the loss-making companies from ARK ETFs' top 10 holdings are not considered when analyzing PE ratio, we examine their PS ratio for a more robust comparison. Chart 6 to Chart 9 represents the PS ratio of ARK ETF's top 10 holdings.</p><p><blockquote>由于在分析市盈率时不考虑ARK ETF前10大持股中的亏损公司，因此我们检查它们的市盈率以进行更稳健的比较。图6至图9代表ARK ETF前10大持股的PS比率。</blockquote></p><p> The conclusion from the PS ratio comparison aligns with the PE ratio comparison. ARKX's top 10 holdings have the lowest PS ratio than the top 10 holdings of other ARK ETFs. This also implies that ARKX has the highest margin of safety compared to other ARK ETFs.</p><p><blockquote>PS比率比较的结论与PE比率比较一致。ARKX的前10名持股的市盈率低于其他ARK ETF的前10名持股。这也意味着与其他ARK ETF相比，ARKX具有最高的安全边际。</blockquote></p><p> Chart 6: PS ratio of ARKX's top 10 holdings</p><p><blockquote>图表6：ARKX前10大持股PS比率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/52762a7f513a9d130f9afd83ee2f5318\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 7: PS ratio of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表7：ARKK/ARKW前10大持仓PS比率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ddb55b54a5fe68eec46705578de503ef\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 8: PS ratio of ARKQ's top 10 holdings</p><p><blockquote>图表8：ARKQ前10大持股PS比率</blockquote></p><p> <img src=\"https://static.tigerbbs.com/f640f1c7f7ade55aa406911da9db2374\" tg-width=\"640\" tg-height=\"556\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Chart 9: PS ratio of ARKF's top 10 holdings</p><p><blockquote>图表9：ARKF前10大持股PS比率</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6451ac91204829c35c47989cb4f6a696\" tg-width=\"640\" tg-height=\"561\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Net interest income of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股的净利息收入</b></blockquote></p><p> Chart 10 to Chart 13 represents the net interest income of ARK ETF's top 10 holdings. The higher the net interest income, the better. This is because higher interest rates will boost both interest income and interest expense.</p><p><blockquote>图10至图13代表了ARK ETF前10大持股的净利息收入。净利息收入越高越好。这是因为较高的利率将增加利息收入和利息支出。</blockquote></p><p> ARKX's top 10 holdings have the worse net interest income, where only 1 of the 10 companies enjoys positive net interest income. We found that this is due to higher exposure to aviation-related companies. For instance, Boeing (BA) has taken a $13.8bil loan to help deal with cash burns due to the pandemic.</p><p><blockquote>ARKX前10大持股的净利息收入最差，10家公司中只有1家净利息收入为正。我们发现，这是由于对航空相关公司的敞口较高。例如，波音(BA)已获得138亿美元贷款，以帮助应对疫情造成的现金消耗。</blockquote></p><p></p><p> Nevertheless, ARKX's holdings are likely to suffer more interest expense (and decreased earnings) as the Fed&nbsp;starts&nbsp;selling corporate bonds and raise interest rates. If interest rates become too burdensome, these holdings might even face higher liquidity risks than other ARK ETFs' holdings. Therefore, ARKX is not as resilient to rising interest rates compared to other ARK ETFs.</p><p><blockquote>尽管如此，随着美联储开始出售公司债券并提高利率，ARKX的持股可能会遭受更多的利息支出（以及收益下降）。如果利率变得过于沉重，这些持有的股票甚至可能比其他ARK ETF持有的股票面临更高的流动性风险。因此，与其他ARK ETF相比，ARKX对利率上升的弹性并不那么强。</blockquote></p><p> Chart 10: Net Interest Income of ARKX's top 10 holdings</p><p><blockquote>图表10：ARKX前10大持股净利息收入</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aae97de917f8f8453ddc2122842575c3\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 11: Net Interest Income of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表11：ARKK/ARKW前十大持仓股的净利息收入</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/91020c77a6f72b41e4e2f751d792cc9b\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 12: Net Interest Income of ARKQ's top 10 holdings</p><p><blockquote>图表12：ARKQ前十大持股的净利息收入</blockquote></p><p> <img src=\"https://static.tigerbbs.com/a3127f54419a06a34266c0ff575b051e\" tg-width=\"640\" tg-height=\"561\"></p><p><blockquote></blockquote></p><p> Chart 13: Net Interest Income of ARKF's top 10 holdings</p><p><blockquote>图表13：ARKF前10大持股的净利息收入</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4078bb131d967717ec7b7b8abe6c2fc7\" tg-width=\"640\" tg-height=\"563\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Operating cash flow of each fund's top 10 holdings</b></p><p><blockquote><b>各基金前十大重仓股经营现金流</b></blockquote></p><p> In terms of cash flow from operating activities, the top 10 holdings of ARK ETFs have similar performance, except Boeing. This means that ARK ETFs' top 10 holdings can generate cash flow from its core business. Hence it is less likely that the companies will require debt for operation when interest rates rise. No standout winner in this category.</p><p><blockquote>在经营活动现金流方面，ARK ETF的前10大重仓股表现类似，除了波音。这意味着ARK ETF的前10大持股可以从其核心业务中产生现金流。因此，当利率上升时，这些公司不太可能需要债务来运营。这个类别中没有突出的赢家。</blockquote></p><p> Chart 14: Operating cash flow of ARKX's top 10 holdings</p><p><blockquote>图表14：ARKX前10大持股的经营性现金流</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/97cfa80d6884328c6b12398286388af1\" tg-width=\"635\" tg-height=\"538\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 15: Operating cash flow of ARKK/ARKW's top 10 holdings</p><p><blockquote>图表15：ARKK/ARKW前十大持仓股经营性现金流</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/865551e5dfc447955b74b3a08dddffaf\" tg-width=\"635\" tg-height=\"555\"><span>Data by YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Chart 16: Operating cash flow of ARKQ's top 10 holdings</p><p><blockquote>图表16：ARKQ前十大持股的经营性现金流</blockquote></p><p> <img src=\"https://static.tigerbbs.com/51cc4f2b3d1d067ae8a19638c12c534b\" tg-width=\"640\" tg-height=\"561\"></p><p><blockquote></blockquote></p><p> Chart 17: Operating cash flow of ARKF's top 10 holdings</p><p><blockquote>图表17：ARKF前10大持股的经营性现金流</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c6e8f179f43f3be1ad1efc323a038e7d\" tg-width=\"640\" tg-height=\"564\"><span>Sources: YCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：YCharts</span></p></blockquote></p><p> <b>Conclusion and final remark</b></p><p><blockquote><b>结论和结束语</b></blockquote></p><p> May's initial jobless claims can be considered as the substantial progress the Fed is referring to. A great valuation will likely follow in the event of the Fed's taper tantrum and rising interest rates. Therefore, it is important to rotate into cash- or value-oriented stock as companies with visible earnings will sustain less devaluation from higher required returns.</p><p><blockquote>5月份的首次申请失业救济人数可以被认为是美联储所指的实质性进展。如果美联储缩减规模和利率上升，估值可能会随之而来。因此，转向现金或价值导向型股票非常重要，因为具有可见收益的公司将因较高的要求回报而承受较少的贬值。</blockquote></p><p> Cathie Wood claimed that ARKX has a lot of value-oriented companies. This is true, as evident from the PS ratio and PE ratio of ARK ETFs' top 10 holdings. Therefore, ARKX is indeed more resilient to devaluation from rising interest rates.</p><p><blockquote>Cathie Wood声称ARKX有很多以价值为导向的公司。这是事实，从ARK ETF前10大持股的市盈率和市盈率中可以明显看出。因此，ARKX确实对利率上升导致的贬值更具弹性。</blockquote></p><p> However, investors should note that ARKX's holdings are more prone to liquidity risks as its holdings are more exposed to aviation-related companies such as Boeing.</p><p><blockquote>然而，投资者应该注意到，ARKX的持股更容易面临流动性风险，因为其持股更多地暴露于波音等航空相关公司。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4433079-arkx-ark-most-resilient-etf-great-valuation-reset\">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":{"ARKX":"ARK Space Exploration & Innovation ETF"},"source_url":"https://seekingalpha.com/article/4433079-arkx-ark-most-resilient-etf-great-valuation-reset","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129306378","content_text":"Summary\n\nInitial jobless claims is an important metric to follow because the Fed will taper and raise interest rates when substantial progress is made towards maximum employment and 2% normalized inflation.\nMay's jobless claim (385,000) came in lower than consensus estimates (393,000), which suggests that substantial progress has been made and a great valuation reset will likely follow.\nOne way to mitigate devaluation during the great reset is to rotate into cash- or value-oriented stocks because companies with visible earnings sustain less devaluation from higher required return.\nThis article found that ARKX is most resilient to devaluation compared to other ARK ETFs because its holdings have the highest margin of safety (lowest PS ratio and PE ratio).\nHowever, investors should note that ARKX has higher liquidity risk when interest rates rise due to higher exposure to aviation and negative net interest income.\n\nPhoto by ra2studio/iStock via Getty Images\nBackground\nUnemployment is a very closely monitored metric because of its significant implication on the stock market. According to Jerome Powell's guidance, the Fed will only consider tapering QE and increasing interest rates after substantial progress towards maximum employment and a normalized 2% inflation rate.\nAnalysts are speculating that the Fed will taper and increase interest rates as soon as this year-end. The initial jobless claims in May may have just validated their prediction. The jobless claim numbers released on Thursday are considered to be substantial progress for 2 reasons. Firstly, it fell below 400,000 for the first time since the Covid-19 pandemic. Secondly, the number (385,000) came lower than the consensus estimate (393,000).\nIf the analysts' predictions are realized, the great valuation that we all fear will very likely follow. In such circumstances, value-oriented stocks with strong and visible earnings will be more resilient than growth stocks.\nCathie Wood ARK ETFs are known to focus on innovation and growth. She said that:\n\n I do believe if rates were to take a sharp turn up, that we would see a valuation reset and our portfolios would be prime candidates for that valuation reset of course.\n\nHowever, at that time, the ARK Space Exploration & Innovation ETF(BATS:ARKX)has not been established yet. Therefore, ARKX may not be one of the prime candidates for a valuation reset. Furthermore, Cathie Wood said that investors could find many value-oriented stocks in ARKX. This should mean that ARKX should be more resilient than the other ARK ETFs.\nTherefore, this article examines how resilient ARKX is compared to the other ARK ETFs during a valuation reset.\nChart 1: Initial Jobless Claims\nSource:CNBC\nWhat is ARKX in the eyes of its creator?\nAccording to Cathie Wood, ARKX is currently mainly connectivity and precision agriculture with autonomous tractors and drones. These applications are powered by a common technology, a constellation of satellites. Other than connectivity and precision agriculture, hypersonic flights are also what ARKX is very interested in, and the involved companies tend to be value stocks.\nTherefore, ARKX's holdings are built around companies involved in those supply chains. ARKX's holdings as of 3rd June 2021 are presented in Table 1.\nTable 1: ARKX's holdings as of 3rd June 2021\nSource:ARK Invest\nHow do we examine a fund's resilience?\nWe're going to examine ARKX's resilience using the following metrics:\n\nDistribution of profitable companies in each fund's top 10 holdings\nDistribution of P/S ratio of each fund's top 10 holdings\nDistribution of P/E ratio of each fund's top 10 holdings\nNet interest income of each fund's top 10 holdings\nOperating cash flow of each fund's top 10 holdings\n\nThese metrics are chosen using the following rationale:\n\nProfitable companies are less prone to valuation reset. Therefore, funds that hold more profitable companies are less prone to valuation reset as well. P/E and P/S ratios are chosen as a measurement of valuation.\nNet interest income shows how much interest expense is incurred by the company. In contrast, companies with positive operating cash flow are less likely to borrow money when the cost of capital is expensive. Free cash flow isn't used because free cash flow can be derived from the sale of assets or financing.\n\nHow resilient is ARKX in a valuation reset compared to other ARK ETFs?\nDistribution of profitable companies in each fund's top 10 holdings\nChart 2 to Chart 5 illustrates the PE ratio of ARK ETFs' top 10 holdings. PE ratios of loss-making companies are not applicable. The distribution of profitable companies in each fund's top 10 holdings is presented in Table 2. We can observe that only 66% of ARKX's top 10 holdings are profitable. This is incomplete as the degree of profitability relative to its valuation is not considered.\nTable 2: Distribution of Profitable Companies\n\n\n\nFunds\nDistribution of Profitable Companies\n\n\nARKX\n66%\n\n\nARKK/ARKW]]\n60%\n\n\nARKQ\n80%\n\n\nARKF\n70%\n\n\n\nSource: Author, YCharts\nDistribution of P/S ratio of each fund's top 10 holdings\nPE ratio reflects a company's degree of profitability relative to its valuation. Our perspective changed when we consider the PE ratio of the funds' top 10 holdings. We observed that the PE ratio of ARKX's top 10 holdings is significantly lower than other ARK ETFs' top 10 holdings. This implies that ARKX's holdings have the highest margin of safety, such that ARKX is the least prone to sharp decline compared to other ARK ETFs.\nChart 2: PE ratio of ARKX's top 10 holdings\nData by YCharts\nChart 3: PE ratio of ARKK/ARKW's top 10 holdings\nData by YCharts\nChart 4: PE ratio of ARKQ's top 10 holdings\n\nChart 5: PE ratio of ARKF's top 10 holdings\nSources: YCharts\nDistribution of P/S ratio of each fund's top 10 holdings\nSince the loss-making companies from ARK ETFs' top 10 holdings are not considered when analyzing PE ratio, we examine their PS ratio for a more robust comparison. Chart 6 to Chart 9 represents the PS ratio of ARK ETF's top 10 holdings.\nThe conclusion from the PS ratio comparison aligns with the PE ratio comparison. ARKX's top 10 holdings have the lowest PS ratio than the top 10 holdings of other ARK ETFs. This also implies that ARKX has the highest margin of safety compared to other ARK ETFs.\nChart 6: PS ratio of ARKX's top 10 holdings\nData by YCharts\nChart 7: PS ratio of ARKK/ARKW's top 10 holdings\nData by YCharts\nChart 8: PS ratio of ARKQ's top 10 holdings\n\nChart 9: PS ratio of ARKF's top 10 holdings\nSources: YCharts\nNet interest income of each fund's top 10 holdings\nChart 10 to Chart 13 represents the net interest income of ARK ETF's top 10 holdings. The higher the net interest income, the better. This is because higher interest rates will boost both interest income and interest expense.\nARKX's top 10 holdings have the worse net interest income, where only 1 of the 10 companies enjoys positive net interest income. We found that this is due to higher exposure to aviation-related companies. For instance, Boeing (BA) has taken a $13.8bil loan to help deal with cash burns due to the pandemic.\nNevertheless, ARKX's holdings are likely to suffer more interest expense (and decreased earnings) as the Fed starts selling corporate bonds and raise interest rates. If interest rates become too burdensome, these holdings might even face higher liquidity risks than other ARK ETFs' holdings. Therefore, ARKX is not as resilient to rising interest rates compared to other ARK ETFs.\nChart 10: Net Interest Income of ARKX's top 10 holdings\nData by YCharts\nChart 11: Net Interest Income of ARKK/ARKW's top 10 holdings\nData by YCharts\nChart 12: Net Interest Income of ARKQ's top 10 holdings\n\nChart 13: Net Interest Income of ARKF's top 10 holdings\nSources: YCharts\nOperating cash flow of each fund's top 10 holdings\nIn terms of cash flow from operating activities, the top 10 holdings of ARK ETFs have similar performance, except Boeing. This means that ARK ETFs' top 10 holdings can generate cash flow from its core business. Hence it is less likely that the companies will require debt for operation when interest rates rise. No standout winner in this category.\nChart 14: Operating cash flow of ARKX's top 10 holdings\nData by YCharts\nChart 15: Operating cash flow of ARKK/ARKW's top 10 holdings\nData by YCharts\nChart 16: Operating cash flow of ARKQ's top 10 holdings\n\nChart 17: Operating cash flow of ARKF's top 10 holdings\nSources: YCharts\nConclusion and final remark\nMay's initial jobless claims can be considered as the substantial progress the Fed is referring to. A great valuation will likely follow in the event of the Fed's taper tantrum and rising interest rates. Therefore, it is important to rotate into cash- or value-oriented stock as companies with visible earnings will sustain less devaluation from higher required returns.\nCathie Wood claimed that ARKX has a lot of value-oriented companies. This is true, as evident from the PS ratio and PE ratio of ARK ETFs' top 10 holdings. Therefore, ARKX is indeed more resilient to devaluation from rising interest rates.\nHowever, investors should note that ARKX's holdings are more prone to liquidity risks as its holdings are more exposed to aviation-related companies such as Boeing.","news_type":1,"symbols_score_info":{"ARKX":0.9}},"isVote":1,"tweetType":1,"viewCount":396,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118064484,"gmtCreate":1622708504348,"gmtModify":1634098927806,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Pls comment","listText":"Pls comment","text":"Pls comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/118064484","repostId":"1199260572","repostType":4,"repost":{"id":"1199260572","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":1622707331,"share":"https://www.laohu8.com/m/news/1199260572?lang=zh_CN&edition=full","pubTime":"2021-06-03 16:02","market":"us","language":"en","title":"Meme stocks are flying again in premarket trading<blockquote>迷因股票在盘前交易中再次飞涨</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1199260572","media":"Tiger Newspress","summary":"Meme stocks are flying again in premarket trading.BlackBerry,AMC Entertainment,Sundial Growers and GameStop climbed between 2% and 28%.BlackBerry Limited continues to see increased interest from retail investors and has now overtaken AMC Entertainment Holdings Inc. to emerge as the most-mentioned stock on Reddit’s r/WallStreetBets forum.The moonshot surge in the shares of AMC Entertainment Holdings Inc. has vaulted it into the ranks of some of the world’s most valuable companies.The company has ","content":"<p>Meme stocks are flying again in premarket trading.BlackBerry,AMC&nbsp;Entertainment,Sundial&nbsp;Growers&nbsp;and&nbsp;GameStop&nbsp;climbed between 2% and 28%.</p><p><blockquote>Meme股票在盘前交易中再次飙升。黑莓、AMC Entertainment、Sundial Growers和游戏驿站股价上涨2%至28%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cbc960badd90a595952eb8ae3d0634dd\" tg-width=\"372\" tg-height=\"603\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>BlackBerry Limited</b>&nbsp;continues to see increased interest from retail investors and has now overtaken&nbsp;<b>AMC Entertainment Holdings Inc.</b>&nbsp;to emerge as the most-mentioned stock on Reddit’s r/WallStreetBets forum.</p><p><blockquote><b>黑莓有限公司</b>散户投资者的兴趣继续增加，现已超过<b>AMC院线控股公司。</b>成为Reddit r/WallStreetBets论坛上被提及最多的股票。</blockquote></p><p>The&nbsp;moonshot surge&nbsp;in the shares of AMC Entertainment Holdings Inc. has vaulted it into the ranks of some of the world’s most valuable companies.</p><p><blockquote>AMC院线控股公司股价飙升，使其跻身全球最有价值公司之列。</blockquote></p><p>The company has gone from a small cap to a large cap in the space of a few months. A 95% gain amid a&nbsp;retail-trading frenzy&nbsp;on Wednesday left the movie-theater chain with a market capitalization of $31.3 billion. That makes it more valuable than half of the companies in the S&amp;P 500 Index.</p><p><blockquote>该公司在几个月的时间里从小盘股变成了大盘股。周三，在零售交易狂潮中，这家连锁电影院的市值达到313亿美元，涨幅达95%。这使得它比标普500指数中一半的公司更有价值。</blockquote></p><p>Paper losses from the bearish wagers on 10 of the most-shorted U.S. shares amounted to $4.5 billion Wednesday, according to Peter Hillerberg, co-founder of analytics provider Ortex. That includes $2.75 billion in unrealized losses for AMC Entertainment Holdings Inc. following the stock’s 95% surge, rising to nearly $4 billion after adding in GameStop Corp. and Bed Bath &amp; Beyond Inc.</p><p><blockquote>分析提供商Ortex联合创始人彼得·希勒伯格(Peter Hillerberg)表示，周三，对10只最被做空的美国股票的看跌押注造成的账面损失达45亿美元。其中包括AMC院线控股公司(Taylor Swift Holdings Inc.)股价飙升95%后的27.5亿美元未实现亏损，加上游戏驿站公司和贝德柏士比昂公司(Bed Bath&amp;Beyond Inc.)后，未实现亏损增至近40亿美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Meme stocks are flying again in premarket trading<blockquote>迷因股票在盘前交易中再次飞涨</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMeme stocks are flying again in premarket trading<blockquote>迷因股票在盘前交易中再次飞涨</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-03 16:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Meme stocks are flying again in premarket trading.BlackBerry,AMC&nbsp;Entertainment,Sundial&nbsp;Growers&nbsp;and&nbsp;GameStop&nbsp;climbed between 2% and 28%.</p><p><blockquote>Meme股票在盘前交易中再次飙升。黑莓、AMC Entertainment、Sundial Growers和游戏驿站股价上涨2%至28%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/cbc960badd90a595952eb8ae3d0634dd\" tg-width=\"372\" tg-height=\"603\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p><b>BlackBerry Limited</b>&nbsp;continues to see increased interest from retail investors and has now overtaken&nbsp;<b>AMC Entertainment Holdings Inc.</b>&nbsp;to emerge as the most-mentioned stock on Reddit’s r/WallStreetBets forum.</p><p><blockquote><b>黑莓有限公司</b>散户投资者的兴趣继续增加，现已超过<b>AMC院线控股公司。</b>成为Reddit r/WallStreetBets论坛上被提及最多的股票。</blockquote></p><p>The&nbsp;moonshot surge&nbsp;in the shares of AMC Entertainment Holdings Inc. has vaulted it into the ranks of some of the world’s most valuable companies.</p><p><blockquote>AMC院线控股公司股价飙升，使其跻身全球最有价值公司之列。</blockquote></p><p>The company has gone from a small cap to a large cap in the space of a few months. A 95% gain amid a&nbsp;retail-trading frenzy&nbsp;on Wednesday left the movie-theater chain with a market capitalization of $31.3 billion. That makes it more valuable than half of the companies in the S&amp;P 500 Index.</p><p><blockquote>该公司在几个月的时间里从小盘股变成了大盘股。周三，在零售交易狂潮中，这家连锁电影院的市值达到313亿美元，涨幅达95%。这使得它比标普500指数中一半的公司更有价值。</blockquote></p><p>Paper losses from the bearish wagers on 10 of the most-shorted U.S. shares amounted to $4.5 billion Wednesday, according to Peter Hillerberg, co-founder of analytics provider Ortex. That includes $2.75 billion in unrealized losses for AMC Entertainment Holdings Inc. following the stock’s 95% surge, rising to nearly $4 billion after adding in GameStop Corp. and Bed Bath &amp; Beyond Inc.</p><p><blockquote>分析提供商Ortex联合创始人彼得·希勒伯格(Peter Hillerberg)表示，周三，对10只最被做空的美国股票的看跌押注造成的账面损失达45亿美元。其中包括AMC院线控股公司(Taylor Swift Holdings Inc.)股价飙升95%后的27.5亿美元未实现亏损，加上游戏驿站公司和贝德柏士比昂公司(Bed Bath&amp;Beyond Inc.)后，未实现亏损增至近40亿美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBBY":"Bed Bath & Beyond, Inc.","NOK":"诺基亚","BB":"黑莓","GME":"游戏驿站","AMC":"AMC院线","KOSS":"高斯电子","SNDL":"SNDL Inc.","EXPR":"Express, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1199260572","content_text":"Meme stocks are flying again in premarket trading.BlackBerry,AMC Entertainment,Sundial Growers and GameStop climbed between 2% and 28%.BlackBerry Limited continues to see increased interest from retail investors and has now overtaken AMC Entertainment Holdings Inc. to emerge as the most-mentioned stock on Reddit’s r/WallStreetBets forum.The moonshot surge in the shares of AMC Entertainment Holdings Inc. has vaulted it into the ranks of some of the world’s most valuable companies.The company has gone from a small cap to a large cap in the space of a few months. A 95% gain amid a retail-trading frenzy on Wednesday left the movie-theater chain with a market capitalization of $31.3 billion. That makes it more valuable than half of the companies in the S&P 500 Index.Paper losses from the bearish wagers on 10 of the most-shorted U.S. shares amounted to $4.5 billion Wednesday, according to Peter Hillerberg, co-founder of analytics provider Ortex. That includes $2.75 billion in unrealized losses for AMC Entertainment Holdings Inc. following the stock’s 95% surge, rising to nearly $4 billion after adding in GameStop Corp. and Bed Bath & Beyond Inc.","news_type":1,"symbols_score_info":{"BBBY":0.9,"SNDL":0.9,"KOSS":0.9,"EXPR":0.9,"NOK":0.9,"BB":0.9,"GME":0.9,"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":685,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":154959010,"gmtCreate":1625471883330,"gmtModify":1631891278533,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154959010","repostId":"1109703914","repostType":4,"repost":{"id":"1109703914","kind":"news","pubTimestamp":1625464355,"share":"https://www.laohu8.com/m/news/1109703914?lang=zh_CN&edition=full","pubTime":"2021-07-05 13:52","market":"us","language":"en","title":"Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1109703914","media":"Thestreet","summary":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.So will the major markets open or close for the holiday?The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.It's one of nine full-closing daysfor the stock market this year.For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading i","content":"<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</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>Is the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</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\">\nIs the Stock Market Open or Closed on Independence Day?<blockquote>独立日股票市场是开放还是关闭？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-05 13:52</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.</p><p><blockquote>对许多人来说，美国的独立日是野餐和海滩日。但今年7月4日是周日，这在美国不是交易日。</blockquote></p><p> So will the major markets open or close for the holiday?</p><p><blockquote>那么假期主要市场会开盘还是收盘呢？</blockquote></p><p> The New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.</p><p><blockquote>事实上，纽约证券交易所和纳斯达克将于7月5日星期一休市，以庆祝独立日。</blockquote></p><p> It's&nbsp;one of nine full-closing daysfor the stock market this year.</p><p><blockquote>这是今年股市九个完整休市日之一。</blockquote></p><p> For instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.</p><p><blockquote>例如，股市将于11月25日星期四感恩节休市。11月26日星期五，交易时间为半天多一点，上午9:30至下午1点。美国东部时间。</blockquote></p><p> Normal stock-trading hours run 9:30 a.m. to 4 p.m. ET.</p><p><blockquote>正常股票交易时间为上午9:30至下午4点。东部时间。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.thestreet.com/investing/independence-day-stock-markets-trading-hours","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1109703914","content_text":"Independence Day in the U.S. is for many a picnic-and-beach day. But July 4 this year falls on a Sunday, which in the United States isn't a trading day.\nSo will the major markets open or close for the holiday?\nThe New York Stock Exchange and the Nasdaq will, in fact, be closed on Monday, July 5, to celebrate Independence Day.\nIt's one of nine full-closing daysfor the stock market this year.\nFor instance, the stock market will close for Thanksgiving on Thursday, Nov. 25. On Friday, Nov. 26, trading is scheduled for a bit more than a half-day, 9:30 a.m. to 1 p.m. ET.\nNormal stock-trading hours run 9:30 a.m. to 4 p.m. ET.","news_type":1,"symbols_score_info":{".SPX":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":137729842,"gmtCreate":1622396376586,"gmtModify":1634101846648,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Done, pls comment &amp; like","listText":"Done, pls comment &amp; like","text":"Done, pls comment & like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/137729842","repostId":"2138107249","repostType":4,"isVote":1,"tweetType":1,"viewCount":661,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":895862840,"gmtCreate":1628733989080,"gmtModify":1631888585955,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"LNC","listText":"LNC","text":"LNC","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/895862840","repostId":"1146833505","repostType":4,"isVote":1,"tweetType":1,"viewCount":1467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":179085259,"gmtCreate":1626474633471,"gmtModify":1631888586111,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Comment &amp; like myself","listText":"Comment &amp; like myself","text":"Comment & like myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/179085259","repostId":"1169536573","repostType":4,"repost":{"id":"1169536573","kind":"news","pubTimestamp":1626448731,"share":"https://www.laohu8.com/m/news/1169536573?lang=zh_CN&edition=full","pubTime":"2021-07-16 23:18","market":"us","language":"en","title":"Coupa Shares Extend Losses After Post-Analyst Day Selloff<blockquote>分析师日抛售后，Coupa股价扩大跌幅</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1169536573","media":"Thestreet","summary":"Coupa Software traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.Coupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.Analysts honed in on the more conservative outlook provided by Coupa's management team as the lik","content":"<p>Coupa Software(<b>COUP</b>)&nbsp;traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.</p><p><blockquote>Coupa软件（<b>COUP</b>）周五连续第二天走低，延续了周四近10%的跌幅，分析师在经历了令人失望的分析师日活动后重新评估了对这家财务管理软件公司的前景。</blockquote></p><p> Coupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.</p><p><blockquote>Coupa周四举办了虚拟分析师日，该平台提供商分享了有关其Coupa Pay服务的更多细节，并提供了有关其长期前景的最新信息。</blockquote></p><p> Analysts honed in on the more conservative outlook provided by Coupa's management team as the likely reason behind Thursday's selloff, though were generally sanguine about the company's longer-term prospects, with Piper Sandler one of the the few Wall Street investment firms to lower its one-year price target.</p><p><blockquote>分析师们认为Coupa管理团队提供的更为保守的前景可能是周四抛售背后的原因，但他们普遍对该公司的长期前景持乐观态度，Piper Sandler是少数几家下调一年股价的华尔街投资公司之一。价格目标。</blockquote></p><p> Piper Sandler analysts also focused on lack of progress with Coupa Pay, noting that “… considering the necessary conservatism that is needed to continue the well-known beat and raise cadence, the set-up was always less than ideal.” They held their overweight rating on the stock though lowered their price target to $295 from $300.</p><p><blockquote>Piper Sandler分析师还关注了Coupa Pay缺乏进展的问题，并指出“……考虑到继续众所周知的节拍和提高节奏所需的必要保守主义，这种设置总是不太理想。”他们维持对该股的跑赢大盘评级，但将目标价从300美元下调至295美元。</blockquote></p><p> Truist Securities was slightly more upbeat, though admitted investors “could have been disappointed by either what they heard from an attach rate perspective on Coupa Pay or potentially were disappointed that it’s likely a multi-year time line before Coupa Pay really moves the needle.” They held their buy rating and price target of $326.</p><p><blockquote>Truist Securities稍微乐观一些，尽管承认投资者“可能会对他们从Coupa Pay的附加利率角度听到的消息感到失望，或者可能会对Coupa Pay真正发挥作用可能需要多年时间线感到失望。”他们维持买入评级和326美元的目标价。</blockquote></p><p> Barclays analysts noted that while Coupa couldn’t meet “the very high expectations from the Street” for its Coupa Pay service it is maintaining its positive outlook. The investment bank held its equal weight rating on the shares and one-year price target of $250.</p><p><blockquote>巴克莱分析师指出，虽然Coupa无法满足“华尔街对其Coupa Pay服务的极高期望”，但它仍保持积极的前景。该投资银行维持该股等权重评级，一年目标价为250美元。</blockquote></p><p> Coupa shares plunged last monthafter the companyprovided a tepid forecastthat raised questions about its pace of billings growth.&nbsp;A number of analysts cut their price targets on the San Mateo, Calif., based company at the time, even after it reported a surprise profit and better-than-expected revenue forecasts.</p><p><blockquote>上个月，Coupa股价暴跌，此前该公司提供了一份不温不火的预测，引发了人们对其账单增长速度的质疑。当时，许多分析师下调了这家总部位于加州圣马特奥的公司的目标价，尽管该公司公布了意外的利润和好于预期的收入预测。</blockquote></p><p> At last check, Coupa shares were down 2.24% at $221.04. The stock has fallen 32.7% year to date.</p><p><blockquote>据上次检查，Coupa股价下跌2.24%，至221.04美元。该股今年迄今已下跌32.7%。</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>Coupa Shares Extend Losses After Post-Analyst Day Selloff<blockquote>分析师日抛售后，Coupa股价扩大跌幅</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\">\nCoupa Shares Extend Losses After Post-Analyst Day Selloff<blockquote>分析师日抛售后，Coupa股价扩大跌幅</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Thestreet</strong><span class=\"h-time small\">2021-07-16 23:18</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Coupa Software(<b>COUP</b>)&nbsp;traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.</p><p><blockquote>Coupa软件（<b>COUP</b>）周五连续第二天走低，延续了周四近10%的跌幅，分析师在经历了令人失望的分析师日活动后重新评估了对这家财务管理软件公司的前景。</blockquote></p><p> Coupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.</p><p><blockquote>Coupa周四举办了虚拟分析师日，该平台提供商分享了有关其Coupa Pay服务的更多细节，并提供了有关其长期前景的最新信息。</blockquote></p><p> Analysts honed in on the more conservative outlook provided by Coupa's management team as the likely reason behind Thursday's selloff, though were generally sanguine about the company's longer-term prospects, with Piper Sandler one of the the few Wall Street investment firms to lower its one-year price target.</p><p><blockquote>分析师们认为Coupa管理团队提供的更为保守的前景可能是周四抛售背后的原因，但他们普遍对该公司的长期前景持乐观态度，Piper Sandler是少数几家下调一年股价的华尔街投资公司之一。价格目标。</blockquote></p><p> Piper Sandler analysts also focused on lack of progress with Coupa Pay, noting that “… considering the necessary conservatism that is needed to continue the well-known beat and raise cadence, the set-up was always less than ideal.” They held their overweight rating on the stock though lowered their price target to $295 from $300.</p><p><blockquote>Piper Sandler分析师还关注了Coupa Pay缺乏进展的问题，并指出“……考虑到继续众所周知的节拍和提高节奏所需的必要保守主义，这种设置总是不太理想。”他们维持对该股的跑赢大盘评级，但将目标价从300美元下调至295美元。</blockquote></p><p> Truist Securities was slightly more upbeat, though admitted investors “could have been disappointed by either what they heard from an attach rate perspective on Coupa Pay or potentially were disappointed that it’s likely a multi-year time line before Coupa Pay really moves the needle.” They held their buy rating and price target of $326.</p><p><blockquote>Truist Securities稍微乐观一些，尽管承认投资者“可能会对他们从Coupa Pay的附加利率角度听到的消息感到失望，或者可能会对Coupa Pay真正发挥作用可能需要多年时间线感到失望。”他们维持买入评级和326美元的目标价。</blockquote></p><p> Barclays analysts noted that while Coupa couldn’t meet “the very high expectations from the Street” for its Coupa Pay service it is maintaining its positive outlook. The investment bank held its equal weight rating on the shares and one-year price target of $250.</p><p><blockquote>巴克莱分析师指出，虽然Coupa无法满足“华尔街对其Coupa Pay服务的极高期望”，但它仍保持积极的前景。该投资银行维持该股等权重评级，一年目标价为250美元。</blockquote></p><p> Coupa shares plunged last monthafter the companyprovided a tepid forecastthat raised questions about its pace of billings growth.&nbsp;A number of analysts cut their price targets on the San Mateo, Calif., based company at the time, even after it reported a surprise profit and better-than-expected revenue forecasts.</p><p><blockquote>上个月，Coupa股价暴跌，此前该公司提供了一份不温不火的预测，引发了人们对其账单增长速度的质疑。当时，许多分析师下调了这家总部位于加州圣马特奥的公司的目标价，尽管该公司公布了意外的利润和好于预期的收入预测。</blockquote></p><p> At last check, Coupa shares were down 2.24% at $221.04. The stock has fallen 32.7% year to date.</p><p><blockquote>据上次检查，Coupa股价下跌2.24%，至221.04美元。该股今年迄今已下跌32.7%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.thestreet.com/investing/coupa-software-coup-rebound-selloff-analysts\">Thestreet</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COUP":"Coupa Software Inc"},"source_url":"https://www.thestreet.com/investing/coupa-software-coup-rebound-selloff-analysts","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1169536573","content_text":"Coupa Software(COUP) traded lower for a second day Friday, extending Thursday's near 10% loss, as analysts reassessed their outlooks for the financial management software company following a disappointing analyst day event.\nCoupa hosted a virtual analyst day on Thursday, when the platform provider shared additional detail about its Coupa Pay service, and also provided an update on its longer-term prospects.\nAnalysts honed in on the more conservative outlook provided by Coupa's management team as the likely reason behind Thursday's selloff, though were generally sanguine about the company's longer-term prospects, with Piper Sandler one of the the few Wall Street investment firms to lower its one-year price target.\nPiper Sandler analysts also focused on lack of progress with Coupa Pay, noting that “… considering the necessary conservatism that is needed to continue the well-known beat and raise cadence, the set-up was always less than ideal.” They held their overweight rating on the stock though lowered their price target to $295 from $300.\nTruist Securities was slightly more upbeat, though admitted investors “could have been disappointed by either what they heard from an attach rate perspective on Coupa Pay or potentially were disappointed that it’s likely a multi-year time line before Coupa Pay really moves the needle.” They held their buy rating and price target of $326.\nBarclays analysts noted that while Coupa couldn’t meet “the very high expectations from the Street” for its Coupa Pay service it is maintaining its positive outlook. The investment bank held its equal weight rating on the shares and one-year price target of $250.\nCoupa shares plunged last monthafter the companyprovided a tepid forecastthat raised questions about its pace of billings growth. A number of analysts cut their price targets on the San Mateo, Calif., based company at the time, even after it reported a surprise profit and better-than-expected revenue forecasts.\nAt last check, Coupa shares were down 2.24% at $221.04. The stock has fallen 32.7% year to date.","news_type":1,"symbols_score_info":{"COUP":0.9}},"isVote":1,"tweetType":1,"viewCount":1367,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":893967069,"gmtCreate":1628230651151,"gmtModify":1631888586048,"author":{"id":"3585284759675080","authorId":"3585284759675080","name":"HellenKhor","avatar":"https://static.tigerbbs.com/b78bb6b7388078641629d99562265feb","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3585284759675080","authorIdStr":"3585284759675080"},"themes":[],"htmlText":"Like myself","listText":"Like myself","text":"Like myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/893967069","repostId":"1192335227","repostType":4,"isVote":1,"tweetType":1,"viewCount":1124,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}