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2021-07-27

Snap it up!

Snap Stock: One Of Fastest Growing Social Media Companies<blockquote>Snap股票：增长最快的社交媒体公司之一</blockquote>

2021-07-27

Nice analysis. Thanks

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2021-07-27

Place your own bets and blame no one. Like please. Thanks much.

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2021-07-23

Good to know. Like please. Thanks much

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2021-07-23

Phenomenal. Please like. Thanks

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2021-07-23

Good review. Please like. Thanks much

Asian Markets Mostly Lower Cautious Trade<blockquote>亚洲市场大多走低谨慎交易</blockquote>

2021-07-23

Good review. Please like. Thanks much

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2021-07-23

Let’s see what’s next. Please like. Thanks much

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2021-07-22

Great summary. Thanks

Moderna Joins Top S&P 500 Firms as Stock Value Triples<blockquote>Moderna加入标普500顶级公司行列，股价上涨两倍</blockquote>

2021-07-22

Great stuff. Like please

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2021-07-22

Good to own this. Please like. Thanks

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2021-07-21

If you are an investor, trade wisely. If you are a speculator, trade with the flow. As if I’m an expert… hehe. Just trying out my first comment. Like please.

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2021-07-21

Thanks for posting this good summary.

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And not only did its Q2 results succeed ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Snap had a high bar to cross to impress investors. And not only did its Q2 results succeed but, looking out to its Q3 guidance, its prospects remain very attractive.</li>  <li>Snap's ARPU in North America was the highlight of its Q2 results.</li>  <li>Snap is not in the bargain basement. Hence, investors looking to buy at this stage will have to take a buy-and-hold investment strategy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce123df394d362ecf57640f1621162e3\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Geber86/E+ via Getty Images</span></p><p><blockquote><ul><li>Snap需要跨越很高的门槛才能给投资者留下深刻印象。不仅第二季度业绩取得成功，而且从第三季度指引来看，其前景仍然非常有吸引力。</li><li>Snap在北美的ARPU是其第二季度业绩的亮点。</li><li>Snap不在廉价地下室。因此，现阶段寻求买入的投资者必须采取买入并持有的投资策略。</li></ul><p class=\"t-img-caption\"><span>Geber86/E+来自盖蒂图片社</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Snap (SNAP) reported yet another impressive result and Q3 2021 guidance. And as we dig into its results, there are no obvious blemishes in the report. Snap continues growing its top line revenues at very strong rates, while its bottom line EBITDA growth is even more impressive.</p><p><blockquote>SNAP（SNAP）报告了另一项令人印象深刻的业绩和2021年第三季度指引。当我们深入研究其结果时，报告中没有明显的瑕疵。Snap的营收继续以非常强劲的速度增长，而其利润EBITDA增长则更加令人印象深刻。</blockquote></p><p> At 29x forward sales, the stock is not cheap. And investors considering this investment opportunity will have to adopt a very&nbsp;<i>strong-willed buy-and-hold investment strategy</i>. Because at this valuation, the stock is already pricing in a lot of future growth.</p><p><blockquote>以29倍的远期销售额计算，该股并不便宜。而考虑这一投资机会的投资者将不得不采取非常<i>意志坚定的买入并持有投资策略</i>.因为按照这个估值，该股已经消化了未来的大量增长。</blockquote></p><p> <b>Revenue Growth Rates Are Incredibly Strong</b></p><p><blockquote><b>收入增长率非常强劲</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72843b7d7a6cc562b484e25eac7cacbe\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: author's calculations; **high-end guidance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者计算；**高端指导</span></p></blockquote></p><p> Q2 2021 was always going to look strong given just how weak the advertising industry found itself in the same period a year ago. Thus, Snap shareholders were clearly expecting a lot. But to see Snap come out with more than triple digits y/y revenue growth rates? That was particularly stunning.</p><p><blockquote>考虑到一年前同期广告业的疲软程度，2021年第二季度看起来总是很强劲。因此，Snap股东显然期望很高。但看到Snap的收入同比增长率超过三位数？这尤其令人震惊。</blockquote></p><p> Previously, I had noted that investors should look beyond&nbsp;Snap's maturing MAUs in North America, and look towards its International opportunity as its next wave of growth opportunities.</p><p><blockquote>此前，我曾指出，投资者应该超越Snap在北美成熟的月活跃用户数，将其国际机遇视为下一波增长机会。</blockquote></p><p> However, even though its overseas revenues were strong, the real driver of Snap's returns come from the pricing power of its North America users:</p><p><blockquote>然而，尽管海外收入强劲，但Snap回报的真正驱动力来自北美用户的定价能力：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95aca2444a479c7dc060c03d6bf0cec3\" tg-width=\"640\" tg-height=\"126\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In the table above, I've stripped out all the other details for us to focus our discussions around Snap's Average Revenue Per User (\"ARPU\"). As you can see, pricing in North America was the real driver of revenues, with ARPU up 116% y/y. Why is this important?</p><p><blockquote>在上表中，我已经剔除了所有其他细节，以便我们将讨论的重点放在Snap的每用户平均收入（“ARPU”）上。正如您所看到的，北美的定价是收入的真正驱动力，ARPU同比增长116%。为什么这很重要？</blockquote></p><p> It's important because it shows that, even on the back of just 6% y/y growth in DAUs in North America, advertisers are eager to reach out and connect with Snap's young demographic and pay up for that opportunity.</p><p><blockquote>这很重要，因为它表明，即使北美DAU同比仅增长6%，广告商也渴望接触和联系Snap的年轻人群，并为这一机会付费。</blockquote></p><p> <b>Could Spectacles be the Next Wave of Growth for Snap?</b></p><p><blockquote><b>眼镜会成为Snap的下一波增长吗？</b></blockquote></p><p> For some time, Snap has been making investors aware that it's moving beyond just a social media platform and that it's now looking to take its Augmented Reality technology and deploy it into hardware.</p><p><blockquote>一段时间以来，Snap一直在让投资者意识到，它正在超越社交媒体平台，现在正在寻求将其增强现实技术部署到硬件中。</blockquote></p><p> At first, this was met with investor skepticism. After all, Snap was taking an asset-light and lucrative business and pivoting towards a hardware revenue business, with lower margins.</p><p><blockquote>起初，这遭到了投资者的质疑。毕竟，Snap正在采取轻资产且利润丰厚的业务，并转向利润率较低的硬件收入业务。</blockquote></p><p> Indeed, it didn't make much sense why Snap would make such a move. Particularly given that Snap had, without any hardware investment, grown very successfully and built the necessary technology to spring off other manufacturers' capital investment into a business with nearly $4.5 billion in run-rate revenues as of Q4 2021.</p><p><blockquote>事实上，Snap为什么会做出这样的举动并没有多大意义。特别是考虑到Snap在没有任何硬件投资的情况下发展非常成功，并建立了必要的技术，将其他制造商的资本投资转化为截至2021年第四季度运行收入近45亿美元的业务。</blockquote></p><p> Having said that, Snap asserts that by further developing its&nbsp;Spectacles business unit, users can not only create more immersive content, but they will have access to other uses as well.</p><p><blockquote>话虽如此，Snap声称，通过进一步发展其眼镜业务部门，用户不仅可以创建更身临其境的内容，还可以访问其他用途。</blockquote></p><p> For instance, by using Spectacles, users can use AR try-on technology to emulate a physical shopping experience and get clothing with the right fit and the right size, to reduce the need for online returns.</p><p><blockquote>例如，通过使用眼镜，用户可以使用AR试穿技术来模拟实体购物体验，并获得合适尺寸的衣服，以减少在线退货的需求。</blockquote></p><p> The underlying idea is to increase user engagement and build an increased digital inventory of the users' life journeys. Other uses could be to increase the personalization of an online shopping experience.</p><p><blockquote>潜在的想法是增加用户参与度，并建立用户生活旅程的数字清单。其他用途可以是增加在线购物体验的个性化。</blockquote></p><p> This is something that is likely to resonate strongly with Snap's young demographic and offers Snap an opportunity to differentiate itself against other players in this space.</p><p><blockquote>这可能会引起Snap年轻人的强烈共鸣，并为Snap提供了在该领域与其他参与者区分开来的机会。</blockquote></p><p> While Snap is quick to note that this is not yet a fully-fledged solution, it's nevertheless a way to improve shoppers' online experience by making visualization personal and as close to real as possible.</p><p><blockquote>虽然Snap很快指出，这还不是一个成熟的解决方案，但它仍然是一种通过使可视化个性化并尽可能接近真实来改善购物者在线体验的方式。</blockquote></p><p> <i>Hence, the question investors have to answer is whether this is all already priced in or if there's still more upside potential?</i></p><p><blockquote><i>因此，投资者必须回答的问题是，这一切是否已经被定价，或者是否还有更多的上涨潜力？</i></blockquote></p><p> <b>SNAP Stock Valuation: Not Cheap</b></p><p><blockquote><b>SNAP股票估值：不便宜</b></blockquote></p><p></p><p> Snap is valued at approximately 29x forward sales. If we compare with Pinterest (PINS), which trades at approximately 19x forward sales, this reminds readers that a lot of excitement, optimism, expectation, and positive sentiment is evidently priced into Snap.</p><p><blockquote>Snap的估值约为远期销售额的29倍。如果我们与Pinterest(PINS)（其远期销售额约为19倍）进行比较，这提醒读者，Snap显然包含了很多兴奋、乐观、期望和积极情绪。</blockquote></p><p> On the other hand, shareholders may be quick to remark that even if Snap is richly valued, high quality and rapidly growing businesses rarely trade in the bargain basement -- particularly towards the end of a very long bull market.</p><p><blockquote>另一方面，股东可能很快就会注意到，即使Snap估值很高，高质量和快速增长的企业也很少以低价交易——尤其是在漫长的牛市即将结束时。</blockquote></p><p> Moreover, keep in mind that Snap is now signaling to investors that its multi-year investments are now paying fruit and this now marks the third quarter of adjusted EBITDA profitability over its trailing twelve months.</p><p><blockquote>此外，请记住，Snap现在向投资者发出信号，表明其多年投资正在取得成果，这标志着其过去12个月调整后EBITDA盈利能力的第三季度。</blockquote></p><p> Hence, if Snap's Q2 2021's 116% top line appears strong and caught many headlines, then Snap's adjusted EBITDA growth of more than 200% looks even better.</p><p><blockquote>因此，如果SNAP 2021年第二季度116%的营收显得强劲并成为许多头条新闻，那么Snap调整后EBITDA增长超过200%看起来就更好了。</blockquote></p><p> What's more, as we look out to its guidance next quarter, its bottom line EBITDA is expected to once again posttriple digits EBITDA growth y/y.</p><p><blockquote>更重要的是，当我们展望下一季度的指引时，其净利润EBITDA预计将再次实现三位数的EBITDA同比增长。</blockquote></p><p> <b>Premortem (Investment Risks)</b></p><p><blockquote><b>事前（投资风险）</b></blockquote></p><p> Arguably, the single bearish consideration is that Snap's valuation doesn't offer investors much room for error. Not only does it trade more expensively than other social platforms, but it's also clearly a richly valued stock.</p><p><blockquote>可以说，唯一看跌的考虑因素是Snap的估值没有给投资者提供太多犯错的空间。它不仅比其他社交平台的交易成本更高，而且显然也是一只估值很高的股票。</blockquote></p><p> To this end, we see that investors pricing a lot of optimism that Snap will continue to positively surprise investors. Consequently, any mishaps during any quarter, when a stock is so richly priced, leaves the stock primed for a meaningful sell-off.</p><p><blockquote>为此，我们看到投资者对Snap将继续给投资者带来积极惊喜的乐观情绪进行了定价。因此，当股票定价如此昂贵时，任何季度发生的任何事故都会使该股票面临大幅抛售。</blockquote></p><p> Next, the bulk of investor thesis is to a large extent contingent on Snap's DAUs continuing to steadily increase. What's more, Q2 2021 marked just a mid-single-digit increase in DAUs in North America.</p><p><blockquote>接下来，投资者的大部分论点在很大程度上取决于Snap的DAU持续稳步增长。此外，2021年第二季度北美的DAU仅实现了中个位数的增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cab82b3b3570378165d43957bf0e925c\" tg-width=\"640\" tg-height=\"65\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> If we look back to H1 2019 (pre-COVID), Snap's DAU growth was approximately compared with the same period in the prior year. This is an undeniable reminder that Snap's DAU growth had previously flattened and that it's entirely possible that it may flatten down once again. If that were to happen, investors would not regard Snap as a high growth name, and the number of investors that would be willing to pay for the stock would decrease.</p><p><blockquote>如果我们回顾2019年上半年（COVID之前），Snap的DAU增长与上年同期大致相当。这不可否认地提醒我们，Snap的DAU增长此前已经趋于平缓，而且完全有可能再次趋于平缓。如果发生这种情况，投资者就不会将Snap视为一个高增长的名字，愿意购买该股票的投资者数量也会减少。</blockquote></p><p> <b>The Bottom Line: Is SNAP A Good Buy?</b></p><p><blockquote><b>底线：SNAP值得购买吗？</b></blockquote></p><p> Even though Snap is not a cheap stock, Snap continues to demonstrate that its revenue growth rates remain incredibly strong.</p><p><blockquote>尽管Snap并不是一只便宜的股票，但Snap继续证明其收入增长率仍然非常强劲。</blockquote></p><p> While there's a lot to like in Snap's investment, I will sit out this opportunity as I prefer to invest in companies where the outlook is not as rosy, but the valuation is dramatically cheaper.</p><p><blockquote>虽然Snap的投资有很多值得喜欢的地方，但我会坐视这个机会，因为我更喜欢投资前景不那么乐观但估值却便宜得多的公司。</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>Snap Stock: One Of Fastest Growing Social Media Companies<blockquote>Snap股票：增长最快的社交媒体公司之一</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\">\nSnap Stock: One Of Fastest Growing Social Media Companies<blockquote>Snap股票：增长最快的社交媒体公司之一</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-27 19:28</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>Snap had a high bar to cross to impress investors. And not only did its Q2 results succeed but, looking out to its Q3 guidance, its prospects remain very attractive.</li>  <li>Snap's ARPU in North America was the highlight of its Q2 results.</li>  <li>Snap is not in the bargain basement. Hence, investors looking to buy at this stage will have to take a buy-and-hold investment strategy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce123df394d362ecf57640f1621162e3\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Geber86/E+ via Getty Images</span></p><p><blockquote><ul><li>Snap需要跨越很高的门槛才能给投资者留下深刻印象。不仅第二季度业绩取得成功，而且从第三季度指引来看，其前景仍然非常有吸引力。</li><li>Snap在北美的ARPU是其第二季度业绩的亮点。</li><li>Snap不在廉价地下室。因此，现阶段寻求买入的投资者必须采取买入并持有的投资策略。</li></ul><p class=\"t-img-caption\"><span>Geber86/E+来自盖蒂图片社</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Snap (SNAP) reported yet another impressive result and Q3 2021 guidance. And as we dig into its results, there are no obvious blemishes in the report. Snap continues growing its top line revenues at very strong rates, while its bottom line EBITDA growth is even more impressive.</p><p><blockquote>SNAP（SNAP）报告了另一项令人印象深刻的业绩和2021年第三季度指引。当我们深入研究其结果时，报告中没有明显的瑕疵。Snap的营收继续以非常强劲的速度增长，而其利润EBITDA增长则更加令人印象深刻。</blockquote></p><p> At 29x forward sales, the stock is not cheap. And investors considering this investment opportunity will have to adopt a very&nbsp;<i>strong-willed buy-and-hold investment strategy</i>. Because at this valuation, the stock is already pricing in a lot of future growth.</p><p><blockquote>以29倍的远期销售额计算，该股并不便宜。而考虑这一投资机会的投资者将不得不采取非常<i>意志坚定的买入并持有投资策略</i>.因为按照这个估值，该股已经消化了未来的大量增长。</blockquote></p><p> <b>Revenue Growth Rates Are Incredibly Strong</b></p><p><blockquote><b>收入增长率非常强劲</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72843b7d7a6cc562b484e25eac7cacbe\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: author's calculations; **high-end guidance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者计算；**高端指导</span></p></blockquote></p><p> Q2 2021 was always going to look strong given just how weak the advertising industry found itself in the same period a year ago. Thus, Snap shareholders were clearly expecting a lot. But to see Snap come out with more than triple digits y/y revenue growth rates? That was particularly stunning.</p><p><blockquote>考虑到一年前同期广告业的疲软程度，2021年第二季度看起来总是很强劲。因此，Snap股东显然期望很高。但看到Snap的收入同比增长率超过三位数？这尤其令人震惊。</blockquote></p><p> Previously, I had noted that investors should look beyond&nbsp;Snap's maturing MAUs in North America, and look towards its International opportunity as its next wave of growth opportunities.</p><p><blockquote>此前，我曾指出，投资者应该超越Snap在北美成熟的月活跃用户数，将其国际机遇视为下一波增长机会。</blockquote></p><p> However, even though its overseas revenues were strong, the real driver of Snap's returns come from the pricing power of its North America users:</p><p><blockquote>然而，尽管海外收入强劲，但Snap回报的真正驱动力来自北美用户的定价能力：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95aca2444a479c7dc060c03d6bf0cec3\" tg-width=\"640\" tg-height=\"126\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In the table above, I've stripped out all the other details for us to focus our discussions around Snap's Average Revenue Per User (\"ARPU\"). As you can see, pricing in North America was the real driver of revenues, with ARPU up 116% y/y. Why is this important?</p><p><blockquote>在上表中，我已经剔除了所有其他细节，以便我们将讨论的重点放在Snap的每用户平均收入（“ARPU”）上。正如您所看到的，北美的定价是收入的真正驱动力，ARPU同比增长116%。为什么这很重要？</blockquote></p><p> It's important because it shows that, even on the back of just 6% y/y growth in DAUs in North America, advertisers are eager to reach out and connect with Snap's young demographic and pay up for that opportunity.</p><p><blockquote>这很重要，因为它表明，即使北美DAU同比仅增长6%，广告商也渴望接触和联系Snap的年轻人群，并为这一机会付费。</blockquote></p><p> <b>Could Spectacles be the Next Wave of Growth for Snap?</b></p><p><blockquote><b>眼镜会成为Snap的下一波增长吗？</b></blockquote></p><p> For some time, Snap has been making investors aware that it's moving beyond just a social media platform and that it's now looking to take its Augmented Reality technology and deploy it into hardware.</p><p><blockquote>一段时间以来，Snap一直在让投资者意识到，它正在超越社交媒体平台，现在正在寻求将其增强现实技术部署到硬件中。</blockquote></p><p> At first, this was met with investor skepticism. After all, Snap was taking an asset-light and lucrative business and pivoting towards a hardware revenue business, with lower margins.</p><p><blockquote>起初，这遭到了投资者的质疑。毕竟，Snap正在采取轻资产且利润丰厚的业务，并转向利润率较低的硬件收入业务。</blockquote></p><p> Indeed, it didn't make much sense why Snap would make such a move. Particularly given that Snap had, without any hardware investment, grown very successfully and built the necessary technology to spring off other manufacturers' capital investment into a business with nearly $4.5 billion in run-rate revenues as of Q4 2021.</p><p><blockquote>事实上，Snap为什么会做出这样的举动并没有多大意义。特别是考虑到Snap在没有任何硬件投资的情况下发展非常成功，并建立了必要的技术，将其他制造商的资本投资转化为截至2021年第四季度运行收入近45亿美元的业务。</blockquote></p><p> Having said that, Snap asserts that by further developing its&nbsp;Spectacles business unit, users can not only create more immersive content, but they will have access to other uses as well.</p><p><blockquote>话虽如此，Snap声称，通过进一步发展其眼镜业务部门，用户不仅可以创建更身临其境的内容，还可以访问其他用途。</blockquote></p><p> For instance, by using Spectacles, users can use AR try-on technology to emulate a physical shopping experience and get clothing with the right fit and the right size, to reduce the need for online returns.</p><p><blockquote>例如，通过使用眼镜，用户可以使用AR试穿技术来模拟实体购物体验，并获得合适尺寸的衣服，以减少在线退货的需求。</blockquote></p><p> The underlying idea is to increase user engagement and build an increased digital inventory of the users' life journeys. Other uses could be to increase the personalization of an online shopping experience.</p><p><blockquote>潜在的想法是增加用户参与度，并建立用户生活旅程的数字清单。其他用途可以是增加在线购物体验的个性化。</blockquote></p><p> This is something that is likely to resonate strongly with Snap's young demographic and offers Snap an opportunity to differentiate itself against other players in this space.</p><p><blockquote>这可能会引起Snap年轻人的强烈共鸣，并为Snap提供了在该领域与其他参与者区分开来的机会。</blockquote></p><p> While Snap is quick to note that this is not yet a fully-fledged solution, it's nevertheless a way to improve shoppers' online experience by making visualization personal and as close to real as possible.</p><p><blockquote>虽然Snap很快指出，这还不是一个成熟的解决方案，但它仍然是一种通过使可视化个性化并尽可能接近真实来改善购物者在线体验的方式。</blockquote></p><p> <i>Hence, the question investors have to answer is whether this is all already priced in or if there's still more upside potential?</i></p><p><blockquote><i>因此，投资者必须回答的问题是，这一切是否已经被定价，或者是否还有更多的上涨潜力？</i></blockquote></p><p> <b>SNAP Stock Valuation: Not Cheap</b></p><p><blockquote><b>SNAP股票估值：不便宜</b></blockquote></p><p></p><p> Snap is valued at approximately 29x forward sales. If we compare with Pinterest (PINS), which trades at approximately 19x forward sales, this reminds readers that a lot of excitement, optimism, expectation, and positive sentiment is evidently priced into Snap.</p><p><blockquote>Snap的估值约为远期销售额的29倍。如果我们与Pinterest(PINS)（其远期销售额约为19倍）进行比较，这提醒读者，Snap显然包含了很多兴奋、乐观、期望和积极情绪。</blockquote></p><p> On the other hand, shareholders may be quick to remark that even if Snap is richly valued, high quality and rapidly growing businesses rarely trade in the bargain basement -- particularly towards the end of a very long bull market.</p><p><blockquote>另一方面，股东可能很快就会注意到，即使Snap估值很高，高质量和快速增长的企业也很少以低价交易——尤其是在漫长的牛市即将结束时。</blockquote></p><p> Moreover, keep in mind that Snap is now signaling to investors that its multi-year investments are now paying fruit and this now marks the third quarter of adjusted EBITDA profitability over its trailing twelve months.</p><p><blockquote>此外，请记住，Snap现在向投资者发出信号，表明其多年投资正在取得成果，这标志着其过去12个月调整后EBITDA盈利能力的第三季度。</blockquote></p><p> Hence, if Snap's Q2 2021's 116% top line appears strong and caught many headlines, then Snap's adjusted EBITDA growth of more than 200% looks even better.</p><p><blockquote>因此，如果SNAP 2021年第二季度116%的营收显得强劲并成为许多头条新闻，那么Snap调整后EBITDA增长超过200%看起来就更好了。</blockquote></p><p> What's more, as we look out to its guidance next quarter, its bottom line EBITDA is expected to once again posttriple digits EBITDA growth y/y.</p><p><blockquote>更重要的是，当我们展望下一季度的指引时，其净利润EBITDA预计将再次实现三位数的EBITDA同比增长。</blockquote></p><p> <b>Premortem (Investment Risks)</b></p><p><blockquote><b>事前（投资风险）</b></blockquote></p><p> Arguably, the single bearish consideration is that Snap's valuation doesn't offer investors much room for error. Not only does it trade more expensively than other social platforms, but it's also clearly a richly valued stock.</p><p><blockquote>可以说，唯一看跌的考虑因素是Snap的估值没有给投资者提供太多犯错的空间。它不仅比其他社交平台的交易成本更高，而且显然也是一只估值很高的股票。</blockquote></p><p> To this end, we see that investors pricing a lot of optimism that Snap will continue to positively surprise investors. Consequently, any mishaps during any quarter, when a stock is so richly priced, leaves the stock primed for a meaningful sell-off.</p><p><blockquote>为此，我们看到投资者对Snap将继续给投资者带来积极惊喜的乐观情绪进行了定价。因此，当股票定价如此昂贵时，任何季度发生的任何事故都会使该股票面临大幅抛售。</blockquote></p><p> Next, the bulk of investor thesis is to a large extent contingent on Snap's DAUs continuing to steadily increase. What's more, Q2 2021 marked just a mid-single-digit increase in DAUs in North America.</p><p><blockquote>接下来，投资者的大部分论点在很大程度上取决于Snap的DAU持续稳步增长。此外，2021年第二季度北美的DAU仅实现了中个位数的增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cab82b3b3570378165d43957bf0e925c\" tg-width=\"640\" tg-height=\"65\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> If we look back to H1 2019 (pre-COVID), Snap's DAU growth was approximately compared with the same period in the prior year. This is an undeniable reminder that Snap's DAU growth had previously flattened and that it's entirely possible that it may flatten down once again. If that were to happen, investors would not regard Snap as a high growth name, and the number of investors that would be willing to pay for the stock would decrease.</p><p><blockquote>如果我们回顾2019年上半年（COVID之前），Snap的DAU增长与上年同期大致相当。这不可否认地提醒我们，Snap的DAU增长此前已经趋于平缓，而且完全有可能再次趋于平缓。如果发生这种情况，投资者就不会将Snap视为一个高增长的名字，愿意购买该股票的投资者数量也会减少。</blockquote></p><p> <b>The Bottom Line: Is SNAP A Good Buy?</b></p><p><blockquote><b>底线：SNAP值得购买吗？</b></blockquote></p><p> Even though Snap is not a cheap stock, Snap continues to demonstrate that its revenue growth rates remain incredibly strong.</p><p><blockquote>尽管Snap并不是一只便宜的股票，但Snap继续证明其收入增长率仍然非常强劲。</blockquote></p><p> While there's a lot to like in Snap's investment, I will sit out this opportunity as I prefer to invest in companies where the outlook is not as rosy, but the valuation is dramatically cheaper.</p><p><blockquote>虽然Snap的投资有很多值得喜欢的地方，但我会坐视这个机会，因为我更喜欢投资前景不那么乐观但估值却便宜得多的公司。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4441412-snap-one-of-fastest-growing-social-media-companies\">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":{"SNAP":"Snap Inc"},"source_url":"https://seekingalpha.com/article/4441412-snap-one-of-fastest-growing-social-media-companies","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118738178","content_text":"Summary\n\nSnap had a high bar to cross to impress investors. And not only did its Q2 results succeed but, looking out to its Q3 guidance, its prospects remain very attractive.\nSnap's ARPU in North America was the highlight of its Q2 results.\nSnap is not in the bargain basement. Hence, investors looking to buy at this stage will have to take a buy-and-hold investment strategy.\n\nGeber86/E+ via Getty Images\nInvestment Thesis\nSnap (SNAP) reported yet another impressive result and Q3 2021 guidance. And as we dig into its results, there are no obvious blemishes in the report. Snap continues growing its top line revenues at very strong rates, while its bottom line EBITDA growth is even more impressive.\nAt 29x forward sales, the stock is not cheap. And investors considering this investment opportunity will have to adopt a very strong-willed buy-and-hold investment strategy. Because at this valuation, the stock is already pricing in a lot of future growth.\nRevenue Growth Rates Are Incredibly Strong\nSource: author's calculations; **high-end guidance\nQ2 2021 was always going to look strong given just how weak the advertising industry found itself in the same period a year ago. Thus, Snap shareholders were clearly expecting a lot. But to see Snap come out with more than triple digits y/y revenue growth rates? That was particularly stunning.\nPreviously, I had noted that investors should look beyond Snap's maturing MAUs in North America, and look towards its International opportunity as its next wave of growth opportunities.\nHowever, even though its overseas revenues were strong, the real driver of Snap's returns come from the pricing power of its North America users:\n\nIn the table above, I've stripped out all the other details for us to focus our discussions around Snap's Average Revenue Per User (\"ARPU\"). As you can see, pricing in North America was the real driver of revenues, with ARPU up 116% y/y. Why is this important?\nIt's important because it shows that, even on the back of just 6% y/y growth in DAUs in North America, advertisers are eager to reach out and connect with Snap's young demographic and pay up for that opportunity.\nCould Spectacles be the Next Wave of Growth for Snap?\nFor some time, Snap has been making investors aware that it's moving beyond just a social media platform and that it's now looking to take its Augmented Reality technology and deploy it into hardware.\nAt first, this was met with investor skepticism. After all, Snap was taking an asset-light and lucrative business and pivoting towards a hardware revenue business, with lower margins.\nIndeed, it didn't make much sense why Snap would make such a move. Particularly given that Snap had, without any hardware investment, grown very successfully and built the necessary technology to spring off other manufacturers' capital investment into a business with nearly $4.5 billion in run-rate revenues as of Q4 2021.\nHaving said that, Snap asserts that by further developing its Spectacles business unit, users can not only create more immersive content, but they will have access to other uses as well.\nFor instance, by using Spectacles, users can use AR try-on technology to emulate a physical shopping experience and get clothing with the right fit and the right size, to reduce the need for online returns.\nThe underlying idea is to increase user engagement and build an increased digital inventory of the users' life journeys. Other uses could be to increase the personalization of an online shopping experience.\nThis is something that is likely to resonate strongly with Snap's young demographic and offers Snap an opportunity to differentiate itself against other players in this space.\nWhile Snap is quick to note that this is not yet a fully-fledged solution, it's nevertheless a way to improve shoppers' online experience by making visualization personal and as close to real as possible.\nHence, the question investors have to answer is whether this is all already priced in or if there's still more upside potential?\nSNAP Stock Valuation: Not Cheap\nSnap is valued at approximately 29x forward sales. If we compare with Pinterest (PINS), which trades at approximately 19x forward sales, this reminds readers that a lot of excitement, optimism, expectation, and positive sentiment is evidently priced into Snap.\nOn the other hand, shareholders may be quick to remark that even if Snap is richly valued, high quality and rapidly growing businesses rarely trade in the bargain basement -- particularly towards the end of a very long bull market.\nMoreover, keep in mind that Snap is now signaling to investors that its multi-year investments are now paying fruit and this now marks the third quarter of adjusted EBITDA profitability over its trailing twelve months.\nHence, if Snap's Q2 2021's 116% top line appears strong and caught many headlines, then Snap's adjusted EBITDA growth of more than 200% looks even better.\nWhat's more, as we look out to its guidance next quarter, its bottom line EBITDA is expected to once again posttriple digits EBITDA growth y/y.\nPremortem (Investment Risks)\nArguably, the single bearish consideration is that Snap's valuation doesn't offer investors much room for error. Not only does it trade more expensively than other social platforms, but it's also clearly a richly valued stock.\nTo this end, we see that investors pricing a lot of optimism that Snap will continue to positively surprise investors. Consequently, any mishaps during any quarter, when a stock is so richly priced, leaves the stock primed for a meaningful sell-off.\nNext, the bulk of investor thesis is to a large extent contingent on Snap's DAUs continuing to steadily increase. What's more, Q2 2021 marked just a mid-single-digit increase in DAUs in North America.\n\nIf we look back to H1 2019 (pre-COVID), Snap's DAU growth was approximately compared with the same period in the prior year. This is an undeniable reminder that Snap's DAU growth had previously flattened and that it's entirely possible that it may flatten down once again. If that were to happen, investors would not regard Snap as a high growth name, and the number of investors that would be willing to pay for the stock would decrease.\nThe Bottom Line: Is SNAP A Good Buy?\nEven though Snap is not a cheap stock, Snap continues to demonstrate that its revenue growth rates remain incredibly strong.\nWhile there's a lot to like in Snap's investment, I will sit out this opportunity as I prefer to invest in companies where the outlook is not as rosy, but the valuation is dramatically cheaper.","news_type":1,"symbols_score_info":{"SNAP":0.9}},"isVote":1,"tweetType":1,"viewCount":1788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809426222,"gmtCreate":1627388655666,"gmtModify":1633765498766,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Nice analysis. Thanks","listText":"Nice analysis. Thanks","text":"Nice analysis. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809426222","repostId":"1180394633","repostType":4,"isVote":1,"tweetType":1,"viewCount":1247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809486680,"gmtCreate":1627387307440,"gmtModify":1633765511750,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Place your own bets and blame no one. Like please. Thanks much.&nbsp;","listText":"Place your own bets and blame no one. Like please. Thanks much.&nbsp;","text":"Place your own bets and blame no one. Like please. Thanks much.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/809486680","repostId":"1154449552","repostType":4,"isVote":1,"tweetType":1,"viewCount":1707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175800452,"gmtCreate":1627017870176,"gmtModify":1633768720759,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good to know. Like please. Thanks much","listText":"Good to know. Like please. Thanks much","text":"Good to know. Like please. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175800452","repostId":"2153918609","repostType":4,"isVote":1,"tweetType":1,"viewCount":1980,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175174705,"gmtCreate":1627017742307,"gmtModify":1633768722391,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Phenomenal. Please like. Thanks","listText":"Phenomenal. Please like. Thanks","text":"Phenomenal. Please like. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175174705","repostId":"2153787206","repostType":4,"isVote":1,"tweetType":1,"viewCount":1641,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175172731,"gmtCreate":1627017598923,"gmtModify":1633768724290,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good review. Please like. Thanks much","listText":"Good review. Please like. Thanks much","text":"Good review. Please like. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175172731","repostId":"1191333381","repostType":4,"repost":{"id":"1191333381","kind":"news","pubTimestamp":1627012258,"share":"https://www.laohu8.com/m/news/1191333381?lang=zh_CN&edition=full","pubTime":"2021-07-23 11:50","market":"uk","language":"en","title":"Asian Markets Mostly Lower Cautious Trade<blockquote>亚洲市场大多走低谨慎交易</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191333381","media":"RTTNews","summary":"Asian stock markets are trading mostly lower on Friday, ignoring the positive cues overnight from Wa","content":"<p>Asian stock&nbsp;markets&nbsp;are trading mostly lower on Friday, ignoring the positive cues overnight from Wall Street, as lingering worries over rising spread of the delta variant of the coronavirus in several parts across the world rendered the mood cautious. The markets are supported mainly by crude oil prices as they continue to recover from the recent selling-off. Asian markets ended mostly higher on Thursday.</p><p><blockquote>亚洲股市周五大多走低，忽略了隔夜华尔街的积极信号，因为对冠状病毒德尔塔变异毒株在全球多个地区蔓延的担忧挥之不去，导致市场情绪谨慎。随着原油价格继续从最近的抛售中恢复，市场主要受到原油价格的支撑。亚洲市场周四大多收高。</blockquote></p><p> Australian stock market is slightly higher after early losses on Friday, extending the gains in the previous two sessions, with the benchmark S&amp;P/ASX 200 staying just below the 7,400 level, following the positive cues overnight from Wall Street. Traders also remain concerned amid the rapid spread of the highly contagiouscoronavirusvariants in four states and some regional areas, with lockdowns in three of the country's major cities limiting economic activity.</p><p><blockquote>澳大利亚股市在周五早盘下跌后小幅走高，延续了前两个交易日的涨幅，继隔夜华尔街发出积极信号后，基准S&amp;P/ASX 200指数略低于7,400点水平。交易商还对高传染性冠状病毒变种在四个州和一些地区迅速传播感到担忧，该国三个主要城市的封锁限制了经济活动。</blockquote></p><p> The benchmark S&amp;P/ASX 200 Index is gaining 9.80 points or 0.13 percent to 7,396.20, after hitting a low of 7,357.00 earlier. The broader All Ordinaries Index is up 14.50 points or 0.19 percent to 7,673.40. Australian markets ended modestly higher on Thursday.</p><p><blockquote>基准S&amp;P/ASX 200指数上涨9.80点或0.13%，至7,396.20点，此前曾触及7,357.00点的低点。更广泛的所有普通股指数上涨14.50点或0.19%，至7,673.40点。澳大利亚股市周四小幅收高。</blockquote></p><p> Among major miners, <a href=\"https://laohu8.com/S/BHP\">BHP Billiton</a> is edging down 0.2 percent, while <a href=\"https://laohu8.com/S/RIO\">Rio Tinto PLC</a> and <a href=\"https://laohu8.com/S/OZMLF\">OZ Minerals Ltd.</a> are losing 0.5 percent each. <a href=\"https://laohu8.com/S/MALRF\">Mineral Resources Ltd.</a> is edging up 0.4 percent. <a href=\"https://laohu8.com/S/FSUGY\">Fortescue Metals Group Ltd</a> is flat.</p><p><blockquote>在主要矿商中，<a href=\"https://laohu8.com/S/BHP\">必和必拓</a>小幅下降0.2%，而<a href=\"https://laohu8.com/S/RIO\">力拓集团</a>和<a href=\"https://laohu8.com/S/OZMLF\">奥兹矿业有限公司。</a>各损失0.5%。<a href=\"https://laohu8.com/S/MALRF\">矿产资源有限公司。</a>小幅上涨0.4%。<a href=\"https://laohu8.com/S/FSUGY\">福蒂斯丘金属集团有限公司</a>是平的。</blockquote></p><p> Oil stocks are mixed. Oil Search is losing more than 1 percent, while <a href=\"https://laohu8.com/S/WOPEF\">Woodside Petroleum Ltd.</a> and Beach energy are edging down 0.4 percent each. Santos is down almost 2 percent, while Origin Energy is edging up 0.2 percent.</p><p><blockquote>石油股涨跌互现。石油搜索损失超过1%，而<a href=\"https://laohu8.com/S/WOPEF\">伍德赛德石油有限公司。</a>和Beach energy均小幅下跌0.4%。Santos下跌近2%，Origin Energy小幅上涨0.2%。</blockquote></p><p> Among tech stocks, <a href=\"https://laohu8.com/S/XRO.AU\">Xero</a> is gaining almost 2 percent, <a href=\"https://laohu8.com/S/WIGBY\">Wisetech Global</a> is adding almost 1 percent and Appen is up more than 2 percent. Afterpay is rising almost 3 percent.</p><p><blockquote>在科技股中，<a href=\"https://laohu8.com/S/XRO.AU\">Xero</a>增长了近2%，<a href=\"https://laohu8.com/S/WIGBY\">慧科环球</a>上涨近1%，澳鹏上涨超过2%。Afterpay上涨了近3%。</blockquote></p><p> Shares in <a href=\"https://laohu8.com/S/Z1P.AU\">Zip</a> are gaining more than 3 percent after reports that the buy now, pay later (BNPL) firm is looking to provide users a chance to trade in cryptocurrencies as it braces for competition from <a href=\"https://laohu8.com/S/AAPL\">Apple</a> and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</p><p><blockquote>于<a href=\"https://laohu8.com/S/Z1P.AU\">拉链</a>有报道称，这家先买后付(BNPL)公司正在寻求为用户提供加密货币交易的机会，以应对来自<a href=\"https://laohu8.com/S/AAPL\">苹果</a>和<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</blockquote></p><p> Among the big four banks, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac are all losing almost 1 percent each.</p><p><blockquote>在四大银行中，澳大利亚国民银行、联邦银行、澳新银行和西太平洋银行均下跌近1%。</blockquote></p><p> Gold miners are mostly lower. Newcrest Mining is edging down 0.1 percent, while Resolute Mining and Gold Road Resources are down more than 2 percent each. <a href=\"https://laohu8.com/S/NST.AU\">Northern Star Resources</a> is losing almost 5 percent, while <a href=\"https://laohu8.com/S/EVN.AU\">Evolution Mining</a> is gaining more than 4 percent.</p><p><blockquote>金矿商大多较低。Newcrest Mining小幅下跌0.1%，Resolute Mining和Gold Road Resources均下跌超过2%。<a href=\"https://laohu8.com/S/NST.AU\">北极星资源</a>损失了近5%，而<a href=\"https://laohu8.com/S/EVN.AU\">进化挖掘</a>涨幅超过4%。</blockquote></p><p> In other news, Australian casino operator <a href=\"https://laohu8.com/S/SGR.AU\">Star Entertainment</a> Group has withdrawn a $9 billion merger proposal with beleaguered rival Crown Resorts, on fears that it could lose the main licence to operate its Melbourne casino. Crown Resorts stock is down more than 2 percent.</p><p><blockquote>其他消息，澳大利亚赌场运营商<a href=\"https://laohu8.com/S/SGR.AU\">明星娱乐</a>该集团撤回了与陷入困境的竞争对手皇冠度假村(Crown Resorts)价值90亿美元的合并提议，原因是担心该集团可能会失去经营墨尔本赌场的主要许可证。皇冠度假村股价下跌超过2%。</blockquote></p><p> In economic news, the services sector in Australia fell hard into contraction territory in July, the latest survey from <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Economics revealed on Friday with a 14-month low services PMI score of 44.2. That's down sharply from 56.8 in June and it moves well beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that Australia's manufacturing PMI fell from 58.6 in June to 56.8 in July. The composite PMI slumped to 45.2 from 56.7 in the previous month.</p><p><blockquote>经济消息方面，澳大利亚服务业7月份严重陷入收缩区间，最新调查显示<a href=\"https://laohu8.com/S/MRKT\">Markit</a>周五公布的经济数据显示，服务业PMI得分为44.2，创14个月新低。这一数字较6月份的56.8大幅下降，远低于区分扩张与收缩的荣枯线50。调查还显示，澳大利亚7月制造业PMI从6月的58.6降至56.8。综合PMI从上月的56.7跌至45.2。</blockquote></p><p> In the currency market, the Aussie dollar is trading at $0.738 on Friday.</p><p><blockquote>货币市场方面，周五澳元兑美元汇率为0.738美元。</blockquote></p><p> The Japanese stock market is closed for a long weekend on Thursday and Friday for public holidays, with the Tokyo 2020 Olympics opening ceremony on Friday. Japanese shares ended significantly higher on Wednesday.</p><p><blockquote>日本股市周四和周五因公共假期休市一个长周末，周五是东京2020奥运会开幕式。日本股市周三大幅收高。</blockquote></p><p> In the currency market, the U.S. dollar is trading in the lower 110 yen-range on Friday.</p><p><blockquote>在货币市场，周五美元兑日元汇率在110日元的较低区间内交易。</blockquote></p><p> Elsewhere in Asia, Hong Kong is losing 1 percent, while New Zealand, Indonesia, Malaysia, China and Singapore are all lower by between 0.1 and 0.5 percent each. South Korea is bucking the trend and is up 0.2 percent, while Taiwan is relatively flat.</p><p><blockquote>在亚洲其他地区，香港下降了1%，而新西兰、印度尼西亚、马来西亚、中国和新加坡都下降了0.1%至0.5%。韩国逆势上涨0.2%，而台湾则相对持平。</blockquote></p><p> On Wall Street, stocks showed a lack of direction over much of the trading day on Thursday before ending the session modestly higher. With the uptick on the day, the major averages extended the rebound seen over the two previous sessions.</p><p><blockquote>在华尔街，周四交易日的大部分时间里，股市都缺乏方向，最终小幅走高。随着当天的上涨，主要股指延续了前两个交易日的反弹。</blockquote></p><p> The major averages all finished the day in positive territory but off their highs of the session. The Dow inched up 25.35 points or 0.1 percent to 34,823.35, the Nasdaq rose 52.64 points or 0.4 percent to 14,684.60 and the S&amp;P 500 edged up 8.79 points or 0.2 percent to 4,367.48.</p><p><blockquote>主要股指均以正值收盘，但均脱离盘中高点。道琼斯指数小幅上涨25.35点或0.1%，至34,823.35点；纳斯达克指数上涨52.64点或0.4%，至14,684.60点；标普500指数小幅上涨8.79点或0.2%，至4,367.48点。</blockquote></p><p></p><p> Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index fell by 0.4 percent, the French CAC 40 Index edged up by 0.3 percent and the German DAX Index climbed by 0.6 percent.</p><p><blockquote>与此同时，欧洲主要市场当天表现好坏参半。英国富时100指数下跌0.4%，法国CAC 40指数小幅上涨0.3%，德国DAX指数上涨0.6%。</blockquote></p><p> Crude oil futures settled higher on Thursday, gaining for a third successive day, thanks to reports showing strong gasoline demand and a rebound in distillate fuels. West Texas Intermediate crude oil futures for September ended up $1.61 or 2.3 percent at $71.91 a barrel.</p><p><blockquote>原油期货周四收高，连续第三天上涨，因报告显示汽油需求强劲以及馏分油反弹。西德克萨斯中质原油9月期货收涨1.61美元或2.3%，报每桶71.91美元。</blockquote></p><p></p>","source":"lsy1626938412129","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>Asian Markets Mostly Lower Cautious Trade<blockquote>亚洲市场大多走低谨慎交易</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\">\nAsian Markets Mostly Lower Cautious Trade<blockquote>亚洲市场大多走低谨慎交易</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">RTTNews</strong><span class=\"h-time small\">2021-07-23 11:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Asian stock&nbsp;markets&nbsp;are trading mostly lower on Friday, ignoring the positive cues overnight from Wall Street, as lingering worries over rising spread of the delta variant of the coronavirus in several parts across the world rendered the mood cautious. The markets are supported mainly by crude oil prices as they continue to recover from the recent selling-off. Asian markets ended mostly higher on Thursday.</p><p><blockquote>亚洲股市周五大多走低，忽略了隔夜华尔街的积极信号，因为对冠状病毒德尔塔变异毒株在全球多个地区蔓延的担忧挥之不去，导致市场情绪谨慎。随着原油价格继续从最近的抛售中恢复，市场主要受到原油价格的支撑。亚洲市场周四大多收高。</blockquote></p><p> Australian stock market is slightly higher after early losses on Friday, extending the gains in the previous two sessions, with the benchmark S&amp;P/ASX 200 staying just below the 7,400 level, following the positive cues overnight from Wall Street. Traders also remain concerned amid the rapid spread of the highly contagiouscoronavirusvariants in four states and some regional areas, with lockdowns in three of the country's major cities limiting economic activity.</p><p><blockquote>澳大利亚股市在周五早盘下跌后小幅走高，延续了前两个交易日的涨幅，继隔夜华尔街发出积极信号后，基准S&amp;P/ASX 200指数略低于7,400点水平。交易商还对高传染性冠状病毒变种在四个州和一些地区迅速传播感到担忧，该国三个主要城市的封锁限制了经济活动。</blockquote></p><p> The benchmark S&amp;P/ASX 200 Index is gaining 9.80 points or 0.13 percent to 7,396.20, after hitting a low of 7,357.00 earlier. The broader All Ordinaries Index is up 14.50 points or 0.19 percent to 7,673.40. Australian markets ended modestly higher on Thursday.</p><p><blockquote>基准S&amp;P/ASX 200指数上涨9.80点或0.13%，至7,396.20点，此前曾触及7,357.00点的低点。更广泛的所有普通股指数上涨14.50点或0.19%，至7,673.40点。澳大利亚股市周四小幅收高。</blockquote></p><p> Among major miners, <a href=\"https://laohu8.com/S/BHP\">BHP Billiton</a> is edging down 0.2 percent, while <a href=\"https://laohu8.com/S/RIO\">Rio Tinto PLC</a> and <a href=\"https://laohu8.com/S/OZMLF\">OZ Minerals Ltd.</a> are losing 0.5 percent each. <a href=\"https://laohu8.com/S/MALRF\">Mineral Resources Ltd.</a> is edging up 0.4 percent. <a href=\"https://laohu8.com/S/FSUGY\">Fortescue Metals Group Ltd</a> is flat.</p><p><blockquote>在主要矿商中，<a href=\"https://laohu8.com/S/BHP\">必和必拓</a>小幅下降0.2%，而<a href=\"https://laohu8.com/S/RIO\">力拓集团</a>和<a href=\"https://laohu8.com/S/OZMLF\">奥兹矿业有限公司。</a>各损失0.5%。<a href=\"https://laohu8.com/S/MALRF\">矿产资源有限公司。</a>小幅上涨0.4%。<a href=\"https://laohu8.com/S/FSUGY\">福蒂斯丘金属集团有限公司</a>是平的。</blockquote></p><p> Oil stocks are mixed. Oil Search is losing more than 1 percent, while <a href=\"https://laohu8.com/S/WOPEF\">Woodside Petroleum Ltd.</a> and Beach energy are edging down 0.4 percent each. Santos is down almost 2 percent, while Origin Energy is edging up 0.2 percent.</p><p><blockquote>石油股涨跌互现。石油搜索损失超过1%，而<a href=\"https://laohu8.com/S/WOPEF\">伍德赛德石油有限公司。</a>和Beach energy均小幅下跌0.4%。Santos下跌近2%，Origin Energy小幅上涨0.2%。</blockquote></p><p> Among tech stocks, <a href=\"https://laohu8.com/S/XRO.AU\">Xero</a> is gaining almost 2 percent, <a href=\"https://laohu8.com/S/WIGBY\">Wisetech Global</a> is adding almost 1 percent and Appen is up more than 2 percent. Afterpay is rising almost 3 percent.</p><p><blockquote>在科技股中，<a href=\"https://laohu8.com/S/XRO.AU\">Xero</a>增长了近2%，<a href=\"https://laohu8.com/S/WIGBY\">慧科环球</a>上涨近1%，澳鹏上涨超过2%。Afterpay上涨了近3%。</blockquote></p><p> Shares in <a href=\"https://laohu8.com/S/Z1P.AU\">Zip</a> are gaining more than 3 percent after reports that the buy now, pay later (BNPL) firm is looking to provide users a chance to trade in cryptocurrencies as it braces for competition from <a href=\"https://laohu8.com/S/AAPL\">Apple</a> and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</p><p><blockquote>于<a href=\"https://laohu8.com/S/Z1P.AU\">拉链</a>有报道称，这家先买后付(BNPL)公司正在寻求为用户提供加密货币交易的机会，以应对来自<a href=\"https://laohu8.com/S/AAPL\">苹果</a>和<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</blockquote></p><p> Among the big four banks, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac are all losing almost 1 percent each.</p><p><blockquote>在四大银行中，澳大利亚国民银行、联邦银行、澳新银行和西太平洋银行均下跌近1%。</blockquote></p><p> Gold miners are mostly lower. Newcrest Mining is edging down 0.1 percent, while Resolute Mining and Gold Road Resources are down more than 2 percent each. <a href=\"https://laohu8.com/S/NST.AU\">Northern Star Resources</a> is losing almost 5 percent, while <a href=\"https://laohu8.com/S/EVN.AU\">Evolution Mining</a> is gaining more than 4 percent.</p><p><blockquote>金矿商大多较低。Newcrest Mining小幅下跌0.1%，Resolute Mining和Gold Road Resources均下跌超过2%。<a href=\"https://laohu8.com/S/NST.AU\">北极星资源</a>损失了近5%，而<a href=\"https://laohu8.com/S/EVN.AU\">进化挖掘</a>涨幅超过4%。</blockquote></p><p> In other news, Australian casino operator <a href=\"https://laohu8.com/S/SGR.AU\">Star Entertainment</a> Group has withdrawn a $9 billion merger proposal with beleaguered rival Crown Resorts, on fears that it could lose the main licence to operate its Melbourne casino. Crown Resorts stock is down more than 2 percent.</p><p><blockquote>其他消息，澳大利亚赌场运营商<a href=\"https://laohu8.com/S/SGR.AU\">明星娱乐</a>该集团撤回了与陷入困境的竞争对手皇冠度假村(Crown Resorts)价值90亿美元的合并提议，原因是担心该集团可能会失去经营墨尔本赌场的主要许可证。皇冠度假村股价下跌超过2%。</blockquote></p><p> In economic news, the services sector in Australia fell hard into contraction territory in July, the latest survey from <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Economics revealed on Friday with a 14-month low services PMI score of 44.2. That's down sharply from 56.8 in June and it moves well beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that Australia's manufacturing PMI fell from 58.6 in June to 56.8 in July. The composite PMI slumped to 45.2 from 56.7 in the previous month.</p><p><blockquote>经济消息方面，澳大利亚服务业7月份严重陷入收缩区间，最新调查显示<a href=\"https://laohu8.com/S/MRKT\">Markit</a>周五公布的经济数据显示，服务业PMI得分为44.2，创14个月新低。这一数字较6月份的56.8大幅下降，远低于区分扩张与收缩的荣枯线50。调查还显示，澳大利亚7月制造业PMI从6月的58.6降至56.8。综合PMI从上月的56.7跌至45.2。</blockquote></p><p> In the currency market, the Aussie dollar is trading at $0.738 on Friday.</p><p><blockquote>货币市场方面，周五澳元兑美元汇率为0.738美元。</blockquote></p><p> The Japanese stock market is closed for a long weekend on Thursday and Friday for public holidays, with the Tokyo 2020 Olympics opening ceremony on Friday. Japanese shares ended significantly higher on Wednesday.</p><p><blockquote>日本股市周四和周五因公共假期休市一个长周末，周五是东京2020奥运会开幕式。日本股市周三大幅收高。</blockquote></p><p> In the currency market, the U.S. dollar is trading in the lower 110 yen-range on Friday.</p><p><blockquote>在货币市场，周五美元兑日元汇率在110日元的较低区间内交易。</blockquote></p><p> Elsewhere in Asia, Hong Kong is losing 1 percent, while New Zealand, Indonesia, Malaysia, China and Singapore are all lower by between 0.1 and 0.5 percent each. South Korea is bucking the trend and is up 0.2 percent, while Taiwan is relatively flat.</p><p><blockquote>在亚洲其他地区，香港下降了1%，而新西兰、印度尼西亚、马来西亚、中国和新加坡都下降了0.1%至0.5%。韩国逆势上涨0.2%，而台湾则相对持平。</blockquote></p><p> On Wall Street, stocks showed a lack of direction over much of the trading day on Thursday before ending the session modestly higher. With the uptick on the day, the major averages extended the rebound seen over the two previous sessions.</p><p><blockquote>在华尔街，周四交易日的大部分时间里，股市都缺乏方向，最终小幅走高。随着当天的上涨，主要股指延续了前两个交易日的反弹。</blockquote></p><p> The major averages all finished the day in positive territory but off their highs of the session. The Dow inched up 25.35 points or 0.1 percent to 34,823.35, the Nasdaq rose 52.64 points or 0.4 percent to 14,684.60 and the S&amp;P 500 edged up 8.79 points or 0.2 percent to 4,367.48.</p><p><blockquote>主要股指均以正值收盘，但均脱离盘中高点。道琼斯指数小幅上涨25.35点或0.1%，至34,823.35点；纳斯达克指数上涨52.64点或0.4%，至14,684.60点；标普500指数小幅上涨8.79点或0.2%，至4,367.48点。</blockquote></p><p></p><p> Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index fell by 0.4 percent, the French CAC 40 Index edged up by 0.3 percent and the German DAX Index climbed by 0.6 percent.</p><p><blockquote>与此同时，欧洲主要市场当天表现好坏参半。英国富时100指数下跌0.4%，法国CAC 40指数小幅上涨0.3%，德国DAX指数上涨0.6%。</blockquote></p><p> Crude oil futures settled higher on Thursday, gaining for a third successive day, thanks to reports showing strong gasoline demand and a rebound in distillate fuels. West Texas Intermediate crude oil futures for September ended up $1.61 or 2.3 percent at $71.91 a barrel.</p><p><blockquote>原油期货周四收高，连续第三天上涨，因报告显示汽油需求强劲以及馏分油反弹。西德克萨斯中质原油9月期货收涨1.61美元或2.3%，报每桶71.91美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.rttnews.com/3211307/asian-markets-mostly-lower-cautious-trade.aspx\">RTTNews</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":{"PYPL":"PayPal","WIGBY":"Wisetech Global","WOPEF":"Woodside Energy Group Ltd.","BHP":"必和必拓公司","RIO":"力拓","AAPL":"苹果",".UKX.UK":"富时100指数","MALRF":"Mineral Resources Ltd."},"source_url":"https://www.rttnews.com/3211307/asian-markets-mostly-lower-cautious-trade.aspx","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191333381","content_text":"Asian stock markets are trading mostly lower on Friday, ignoring the positive cues overnight from Wall Street, as lingering worries over rising spread of the delta variant of the coronavirus in several parts across the world rendered the mood cautious. The markets are supported mainly by crude oil prices as they continue to recover from the recent selling-off. Asian markets ended mostly higher on Thursday.\nAustralian stock market is slightly higher after early losses on Friday, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying just below the 7,400 level, following the positive cues overnight from Wall Street. Traders also remain concerned amid the rapid spread of the highly contagiouscoronavirusvariants in four states and some regional areas, with lockdowns in three of the country's major cities limiting economic activity.\nThe benchmark S&P/ASX 200 Index is gaining 9.80 points or 0.13 percent to 7,396.20, after hitting a low of 7,357.00 earlier. The broader All Ordinaries Index is up 14.50 points or 0.19 percent to 7,673.40. Australian markets ended modestly higher on Thursday.\nAmong major miners, BHP Billiton is edging down 0.2 percent, while Rio Tinto PLC and OZ Minerals Ltd. are losing 0.5 percent each. Mineral Resources Ltd. is edging up 0.4 percent. Fortescue Metals Group Ltd is flat.\nOil stocks are mixed. Oil Search is losing more than 1 percent, while Woodside Petroleum Ltd. and Beach energy are edging down 0.4 percent each. Santos is down almost 2 percent, while Origin Energy is edging up 0.2 percent.\nAmong tech stocks, Xero is gaining almost 2 percent, Wisetech Global is adding almost 1 percent and Appen is up more than 2 percent. Afterpay is rising almost 3 percent.\nShares in Zip are gaining more than 3 percent after reports that the buy now, pay later (BNPL) firm is looking to provide users a chance to trade in cryptocurrencies as it braces for competition from Apple and PayPal.\nAmong the big four banks, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac are all losing almost 1 percent each.\nGold miners are mostly lower. Newcrest Mining is edging down 0.1 percent, while Resolute Mining and Gold Road Resources are down more than 2 percent each. Northern Star Resources is losing almost 5 percent, while Evolution Mining is gaining more than 4 percent.\nIn other news, Australian casino operator Star Entertainment Group has withdrawn a $9 billion merger proposal with beleaguered rival Crown Resorts, on fears that it could lose the main licence to operate its Melbourne casino. Crown Resorts stock is down more than 2 percent.\nIn economic news, the services sector in Australia fell hard into contraction territory in July, the latest survey from Markit Economics revealed on Friday with a 14-month low services PMI score of 44.2. That's down sharply from 56.8 in June and it moves well beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that Australia's manufacturing PMI fell from 58.6 in June to 56.8 in July. The composite PMI slumped to 45.2 from 56.7 in the previous month.\nIn the currency market, the Aussie dollar is trading at $0.738 on Friday.\nThe Japanese stock market is closed for a long weekend on Thursday and Friday for public holidays, with the Tokyo 2020 Olympics opening ceremony on Friday. Japanese shares ended significantly higher on Wednesday.\nIn the currency market, the U.S. dollar is trading in the lower 110 yen-range on Friday.\nElsewhere in Asia, Hong Kong is losing 1 percent, while New Zealand, Indonesia, Malaysia, China and Singapore are all lower by between 0.1 and 0.5 percent each. South Korea is bucking the trend and is up 0.2 percent, while Taiwan is relatively flat.\nOn Wall Street, stocks showed a lack of direction over much of the trading day on Thursday before ending the session modestly higher. With the uptick on the day, the major averages extended the rebound seen over the two previous sessions.\nThe major averages all finished the day in positive territory but off their highs of the session. The Dow inched up 25.35 points or 0.1 percent to 34,823.35, the Nasdaq rose 52.64 points or 0.4 percent to 14,684.60 and the S&P 500 edged up 8.79 points or 0.2 percent to 4,367.48.\nMeanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index fell by 0.4 percent, the French CAC 40 Index edged up by 0.3 percent and the German DAX Index climbed by 0.6 percent.\nCrude oil futures settled higher on Thursday, gaining for a third successive day, thanks to reports showing strong gasoline demand and a rebound in distillate fuels. West Texas Intermediate crude oil futures for September ended up $1.61 or 2.3 percent at $71.91 a barrel.","news_type":1,"symbols_score_info":{"WOPEF":0.9,".UKX.UK":0.9,"MALRF":0.9,"OZMLF":0.9,"PYPL":0.9,"RIO":0.9,"BHP":0.9,"Z1P.AU":0.9,"AAPL":0.9,"WIGBY":0.9}},"isVote":1,"tweetType":1,"viewCount":1652,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175176127,"gmtCreate":1627017477669,"gmtModify":1633768725704,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good review. Please like. Thanks much","listText":"Good review. Please like. Thanks much","text":"Good review. Please like. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175176127","repostId":"2153160453","repostType":4,"isVote":1,"tweetType":1,"viewCount":1423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175173700,"gmtCreate":1627017286300,"gmtModify":1633768727069,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Let’s see what’s next. Please like. Thanks much","listText":"Let’s see what’s next. Please like. Thanks much","text":"Let’s see what’s next. Please like. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/175173700","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":1774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172079396,"gmtCreate":1626923784415,"gmtModify":1633769681907,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Great summary. Thanks","listText":"Great summary. Thanks","text":"Great summary. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172079396","repostId":"1105130573","repostType":4,"repost":{"id":"1105130573","kind":"news","pubTimestamp":1626921817,"share":"https://www.laohu8.com/m/news/1105130573?lang=zh_CN&edition=full","pubTime":"2021-07-22 10:43","market":"us","language":"en","title":"Moderna Joins Top S&P 500 Firms as Stock Value Triples<blockquote>Moderna加入标普500顶级公司行列，股价上涨两倍</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105130573","media":"Bloomberg","summary":"(Bloomberg) -- Moderna Inc. joined the S&P 500 on Wednesday as the index’s the best performing stock","content":"<p>(Bloomberg) -- Moderna Inc. joined the S&amp;P 500 on Wednesday as the index’s the best performing stock this year -- by a mile.</p><p><blockquote>（彭博社）——Moderna Inc.周三加入标普500，成为该指数今年表现最好的股票——遥遥领先。</blockquote></p><p> The move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of just over 207% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 104%.</p><p><blockquote>此举标志着这家制药商从早期生物技术公司向向世界提供新冠疫苗的疫苗制造商的转型。2021年迄今为止，Moderna的股价涨幅略高于207%，超过了该指数现有的领先者L Brands Inc.，后者上涨了约104%。</blockquote></p><p> In the runup to its inclusion in the U.S. benchmark, Moderna’s stock has made fresh highs advancing more than 30% over four sessions before a 2% dip on Tuesday. Its shares closed 4.5% higher at $321.11, another record, with a market value of about $129 billion.</p><p><blockquote>在纳入美国基准指数之前，Moderna的股价在四个交易日内上涨了30%以上，随后周二下跌了2%。其股价收高4.5%，报321.11美元，再创历史新高，市值约1290亿美元。</blockquote></p><p> Moderna’s rise has come largely from its innovations in developing messenger RNA vaccines, which use the body’s cells as mini vaccine factories. That has led some Wall Street analysts to call it the “Tesla of biotech” because the Cambridge, Massachusetts-based company is charting a course that may change the way infectious diseases are treated.</p><p><blockquote>Moderna的崛起很大程度上来自其在开发信使RNA疫苗方面的创新，该疫苗将人体细胞用作迷你疫苗工厂。这使得一些华尔街分析师将其看涨期权为“生物技术的特斯拉”，因为这家总部位于麻省剑桥的公司正在规划一条可能改变传染病治疗方式的路线。</blockquote></p><p> The company secured its place in the upper echelons of U.S. biotechs next to AbbVie Inc. and Amgen Inc. -- after receiving emergency authorization for its Covid-19 vaccination last December, just a week behind Pfizer Inc. and BioNTech SE.</p><p><blockquote>去年12月，该公司获得了Covid-19疫苗接种的紧急授权，仅比辉瑞公司和BioNTech SE落后一周，从而在美国生物技术公司的高端地位，仅次于艾伯维公司和安进公司。</blockquote></p><p> But the parallels with Tesla don’t necessarily bode well for Moderna’s stock. Since the day before Tesla’s inclusion in the benchmark in December, it has fallen about 6% versus the index’s gain of nearly 18%. Other recent additions to the index have also underperformed.</p><p><blockquote>但与特斯拉的相似之处对Moderna的股票来说并不一定是好兆头。自12月特斯拉被纳入基准指数的前一天以来，该指数已下跌约6%，而该指数则上涨了近18%。该指数最近的其他成分股也表现不佳。</blockquote></p><p> Shares of companies entering the index typically rally ahead of the inclusion as investors adjust their portfolios. Moderna’s shares were already losing steam on Tuesday, closing 2% lower at $307.33.</p><p><blockquote>随着投资者调整投资组合，进入该指数的公司的股价通常会在纳入之前上涨。Moderna的股价周二已经失去动力，收盘下跌2%，至307.33美元。</blockquote></p><p> Skeptics of Moderna’s surge in recent months note that its pipeline is in the early stages of human testing while the market for Covid-19 booster shots isn’t yet fully understood.</p><p><blockquote>对Moderna近几个月激增持怀疑态度的人指出，其管道正处于人体测试的早期阶段，而Covid-19加强注射的市场尚未完全了解。</blockquote></p><p> Still, recent lab results show Moderna’s jab produces antibodies against the Covid-19 Delta variant. Analysts at Goldman Sachs also predict Moderna could have a new flu shot on the market by 2023 and a combination of a flu and Covid-19 vaccine as soon as 2024. The company also is working on new vaccines and medicines for cancer and HIV as well as Zika and heart disease.</p><p><blockquote>尽管如此，最近的实验室结果显示，Moderna的疫苗会产生针对Covid-19德尔塔变异毒株的抗体。高盛分析师还预测，Moderna可能会在2023年之前向市场推出一种新的流感疫苗，最早在2024年推出流感和Covid-19疫苗的组合疫苗。该公司还在研究治疗癌症和艾滋病毒以及寨卡病毒和心脏病的新疫苗和药物。</blockquote></p><p> A survey of 191 hedge funds and institutional investors from Jefferies trading desk indicated that roughly 73% of respondents expect Moderna shares to be little changed or to fall 20% or worse into year end. The investors were most keenly focused on a delta booster and flu shot results, while only 13% were long Moderna.</p><p><blockquote>Jefferies trading desk对191家对冲基金和机构投资者的调查显示，大约73%的受访者预计Moderna股价到年底变化不大或下跌20%或更糟。投资者最关注的是delta加强剂和流感疫苗的结果，而只有13%的投资者做多Moderna。</blockquote></p><p> “In the end, we still have no idea who is buying the stock,” Will Sevush, a strategist with Jefferies wrote to clients, “bulls are very few and very far between.”</p><p><blockquote>杰富瑞(Jefferies)策略师威尔·塞武什(Will Sevush)在给客户的信中写道：“最终，我们仍然不知道谁在购买这只股票，多头很少，而且相距甚远。”</blockquote></p><p> Sales of mRNA-1273, as Moderna’s Covid inoculation is called, are likely to beat Wall Street consensus for $18.1 billion in 2021, according to Goldman. But even the Wall Street high price target of $299 from Moderna’s biggest enthusiast -- Goldman analyst Salveen Richter -- implies further retreat.</p><p><blockquote>据高盛称，mRNA-1273（Moderna的新冠疫苗）的销售额在2021年可能会超过华尔街预期的181亿美元。但即使是Moderna最大的爱好者、高盛分析师Salveen Richter给出的299美元的华尔街高目标价也意味着进一步撤退。</blockquote></p><p></p>","source":"lsy1612507957220","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>Moderna Joins Top S&P 500 Firms as Stock Value Triples<blockquote>Moderna加入标普500顶级公司行列，股价上涨两倍</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\">\nModerna Joins Top S&P 500 Firms as Stock Value Triples<blockquote>Moderna加入标普500顶级公司行列，股价上涨两倍</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-07-22 10:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Moderna Inc. joined the S&amp;P 500 on Wednesday as the index’s the best performing stock this year -- by a mile.</p><p><blockquote>（彭博社）——Moderna Inc.周三加入标普500，成为该指数今年表现最好的股票——遥遥领先。</blockquote></p><p> The move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of just over 207% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 104%.</p><p><blockquote>此举标志着这家制药商从早期生物技术公司向向世界提供新冠疫苗的疫苗制造商的转型。2021年迄今为止，Moderna的股价涨幅略高于207%，超过了该指数现有的领先者L Brands Inc.，后者上涨了约104%。</blockquote></p><p> In the runup to its inclusion in the U.S. benchmark, Moderna’s stock has made fresh highs advancing more than 30% over four sessions before a 2% dip on Tuesday. Its shares closed 4.5% higher at $321.11, another record, with a market value of about $129 billion.</p><p><blockquote>在纳入美国基准指数之前，Moderna的股价在四个交易日内上涨了30%以上，随后周二下跌了2%。其股价收高4.5%，报321.11美元，再创历史新高，市值约1290亿美元。</blockquote></p><p> Moderna’s rise has come largely from its innovations in developing messenger RNA vaccines, which use the body’s cells as mini vaccine factories. That has led some Wall Street analysts to call it the “Tesla of biotech” because the Cambridge, Massachusetts-based company is charting a course that may change the way infectious diseases are treated.</p><p><blockquote>Moderna的崛起很大程度上来自其在开发信使RNA疫苗方面的创新，该疫苗将人体细胞用作迷你疫苗工厂。这使得一些华尔街分析师将其看涨期权为“生物技术的特斯拉”，因为这家总部位于麻省剑桥的公司正在规划一条可能改变传染病治疗方式的路线。</blockquote></p><p> The company secured its place in the upper echelons of U.S. biotechs next to AbbVie Inc. and Amgen Inc. -- after receiving emergency authorization for its Covid-19 vaccination last December, just a week behind Pfizer Inc. and BioNTech SE.</p><p><blockquote>去年12月，该公司获得了Covid-19疫苗接种的紧急授权，仅比辉瑞公司和BioNTech SE落后一周，从而在美国生物技术公司的高端地位，仅次于艾伯维公司和安进公司。</blockquote></p><p> But the parallels with Tesla don’t necessarily bode well for Moderna’s stock. Since the day before Tesla’s inclusion in the benchmark in December, it has fallen about 6% versus the index’s gain of nearly 18%. Other recent additions to the index have also underperformed.</p><p><blockquote>但与特斯拉的相似之处对Moderna的股票来说并不一定是好兆头。自12月特斯拉被纳入基准指数的前一天以来，该指数已下跌约6%，而该指数则上涨了近18%。该指数最近的其他成分股也表现不佳。</blockquote></p><p> Shares of companies entering the index typically rally ahead of the inclusion as investors adjust their portfolios. Moderna’s shares were already losing steam on Tuesday, closing 2% lower at $307.33.</p><p><blockquote>随着投资者调整投资组合，进入该指数的公司的股价通常会在纳入之前上涨。Moderna的股价周二已经失去动力，收盘下跌2%，至307.33美元。</blockquote></p><p> Skeptics of Moderna’s surge in recent months note that its pipeline is in the early stages of human testing while the market for Covid-19 booster shots isn’t yet fully understood.</p><p><blockquote>对Moderna近几个月激增持怀疑态度的人指出，其管道正处于人体测试的早期阶段，而Covid-19加强注射的市场尚未完全了解。</blockquote></p><p> Still, recent lab results show Moderna’s jab produces antibodies against the Covid-19 Delta variant. Analysts at Goldman Sachs also predict Moderna could have a new flu shot on the market by 2023 and a combination of a flu and Covid-19 vaccine as soon as 2024. The company also is working on new vaccines and medicines for cancer and HIV as well as Zika and heart disease.</p><p><blockquote>尽管如此，最近的实验室结果显示，Moderna的疫苗会产生针对Covid-19德尔塔变异毒株的抗体。高盛分析师还预测，Moderna可能会在2023年之前向市场推出一种新的流感疫苗，最早在2024年推出流感和Covid-19疫苗的组合疫苗。该公司还在研究治疗癌症和艾滋病毒以及寨卡病毒和心脏病的新疫苗和药物。</blockquote></p><p> A survey of 191 hedge funds and institutional investors from Jefferies trading desk indicated that roughly 73% of respondents expect Moderna shares to be little changed or to fall 20% or worse into year end. The investors were most keenly focused on a delta booster and flu shot results, while only 13% were long Moderna.</p><p><blockquote>Jefferies trading desk对191家对冲基金和机构投资者的调查显示，大约73%的受访者预计Moderna股价到年底变化不大或下跌20%或更糟。投资者最关注的是delta加强剂和流感疫苗的结果，而只有13%的投资者做多Moderna。</blockquote></p><p> “In the end, we still have no idea who is buying the stock,” Will Sevush, a strategist with Jefferies wrote to clients, “bulls are very few and very far between.”</p><p><blockquote>杰富瑞(Jefferies)策略师威尔·塞武什(Will Sevush)在给客户的信中写道：“最终，我们仍然不知道谁在购买这只股票，多头很少，而且相距甚远。”</blockquote></p><p> Sales of mRNA-1273, as Moderna’s Covid inoculation is called, are likely to beat Wall Street consensus for $18.1 billion in 2021, according to Goldman. But even the Wall Street high price target of $299 from Moderna’s biggest enthusiast -- Goldman analyst Salveen Richter -- implies further retreat.</p><p><blockquote>据高盛称，mRNA-1273（Moderna的新冠疫苗）的销售额在2021年可能会超过华尔街预期的181亿美元。但即使是Moderna最大的爱好者、高盛分析师Salveen Richter给出的299美元的华尔街高目标价也意味着进一步撤退。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/moderna-joins-top-firms-p-110555617.html\">Bloomberg</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":{"MRNA":"Moderna, Inc."},"source_url":"https://finance.yahoo.com/news/moderna-joins-top-firms-p-110555617.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105130573","content_text":"(Bloomberg) -- Moderna Inc. joined the S&P 500 on Wednesday as the index’s the best performing stock this year -- by a mile.\nThe move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of just over 207% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 104%.\nIn the runup to its inclusion in the U.S. benchmark, Moderna’s stock has made fresh highs advancing more than 30% over four sessions before a 2% dip on Tuesday. Its shares closed 4.5% higher at $321.11, another record, with a market value of about $129 billion.\nModerna’s rise has come largely from its innovations in developing messenger RNA vaccines, which use the body’s cells as mini vaccine factories. That has led some Wall Street analysts to call it the “Tesla of biotech” because the Cambridge, Massachusetts-based company is charting a course that may change the way infectious diseases are treated.\nThe company secured its place in the upper echelons of U.S. biotechs next to AbbVie Inc. and Amgen Inc. -- after receiving emergency authorization for its Covid-19 vaccination last December, just a week behind Pfizer Inc. and BioNTech SE.\nBut the parallels with Tesla don’t necessarily bode well for Moderna’s stock. Since the day before Tesla’s inclusion in the benchmark in December, it has fallen about 6% versus the index’s gain of nearly 18%. Other recent additions to the index have also underperformed.\nShares of companies entering the index typically rally ahead of the inclusion as investors adjust their portfolios. Moderna’s shares were already losing steam on Tuesday, closing 2% lower at $307.33.\nSkeptics of Moderna’s surge in recent months note that its pipeline is in the early stages of human testing while the market for Covid-19 booster shots isn’t yet fully understood.\nStill, recent lab results show Moderna’s jab produces antibodies against the Covid-19 Delta variant. Analysts at Goldman Sachs also predict Moderna could have a new flu shot on the market by 2023 and a combination of a flu and Covid-19 vaccine as soon as 2024. The company also is working on new vaccines and medicines for cancer and HIV as well as Zika and heart disease.\nA survey of 191 hedge funds and institutional investors from Jefferies trading desk indicated that roughly 73% of respondents expect Moderna shares to be little changed or to fall 20% or worse into year end. The investors were most keenly focused on a delta booster and flu shot results, while only 13% were long Moderna.\n“In the end, we still have no idea who is buying the stock,” Will Sevush, a strategist with Jefferies wrote to clients, “bulls are very few and very far between.”\nSales of mRNA-1273, as Moderna’s Covid inoculation is called, are likely to beat Wall Street consensus for $18.1 billion in 2021, according to Goldman. But even the Wall Street high price target of $299 from Moderna’s biggest enthusiast -- Goldman analyst Salveen Richter -- implies further retreat.","news_type":1,"symbols_score_info":{"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":1889,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172058297,"gmtCreate":1626922716419,"gmtModify":1633769691923,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Great stuff. Like please","listText":"Great stuff. Like please","text":"Great stuff. Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/172058297","repostId":"2153477496","repostType":4,"isVote":1,"tweetType":1,"viewCount":2061,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172053630,"gmtCreate":1626922535620,"gmtModify":1633769693314,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good to own this. Please like. Thanks","listText":"Good to own this. Please like. Thanks","text":"Good to own this. Please like. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172053630","repostId":"2153123625","repostType":4,"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178738764,"gmtCreate":1626836301958,"gmtModify":1631883986799,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"If you are an investor, trade wisely. If you are a speculator, trade with the flow. As if I’m an expert… hehe. Just trying out my first comment. Like please.&nbsp;","listText":"If you are an investor, trade wisely. If you are a speculator, trade with the flow. As if I’m an expert… hehe. Just trying out my first comment. Like please.&nbsp;","text":"If you are an investor, trade wisely. If you are a speculator, trade with the flow. As if I’m an expert… hehe. Just trying out my first comment. Like please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178738764","repostId":"2153911886","repostType":4,"isVote":1,"tweetType":1,"viewCount":357,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178793665,"gmtCreate":1626835570957,"gmtModify":1633770537831,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Thanks for posting this good summary.&nbsp;","listText":"Thanks for posting this good summary.&nbsp;","text":"Thanks for posting this good summary.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178793665","repostId":"2153924256","repostType":4,"isVote":1,"tweetType":1,"viewCount":659,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":175173700,"gmtCreate":1627017286300,"gmtModify":1633768727069,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Let’s see what’s next. Please like. Thanks much","listText":"Let’s see what’s next. Please like. Thanks much","text":"Let’s see what’s next. Please like. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/175173700","repostId":"1164478982","repostType":4,"isVote":1,"tweetType":1,"viewCount":1774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809486680,"gmtCreate":1627387307440,"gmtModify":1633765511750,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Place your own bets and blame no one. Like please. Thanks much.&nbsp;","listText":"Place your own bets and blame no one. Like please. Thanks much.&nbsp;","text":"Place your own bets and blame no one. Like please. Thanks much.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/809486680","repostId":"1154449552","repostType":4,"isVote":1,"tweetType":1,"viewCount":1707,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172058297,"gmtCreate":1626922716419,"gmtModify":1633769691923,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Great stuff. Like please","listText":"Great stuff. Like please","text":"Great stuff. Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/172058297","repostId":"2153477496","repostType":4,"isVote":1,"tweetType":1,"viewCount":2061,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172079396,"gmtCreate":1626923784415,"gmtModify":1633769681907,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Great summary. Thanks","listText":"Great summary. Thanks","text":"Great summary. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172079396","repostId":"1105130573","repostType":4,"repost":{"id":"1105130573","kind":"news","pubTimestamp":1626921817,"share":"https://www.laohu8.com/m/news/1105130573?lang=zh_CN&edition=full","pubTime":"2021-07-22 10:43","market":"us","language":"en","title":"Moderna Joins Top S&P 500 Firms as Stock Value Triples<blockquote>Moderna加入标普500顶级公司行列，股价上涨两倍</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1105130573","media":"Bloomberg","summary":"(Bloomberg) -- Moderna Inc. joined the S&P 500 on Wednesday as the index’s the best performing stock","content":"<p>(Bloomberg) -- Moderna Inc. joined the S&amp;P 500 on Wednesday as the index’s the best performing stock this year -- by a mile.</p><p><blockquote>（彭博社）——Moderna Inc.周三加入标普500，成为该指数今年表现最好的股票——遥遥领先。</blockquote></p><p> The move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of just over 207% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 104%.</p><p><blockquote>此举标志着这家制药商从早期生物技术公司向向世界提供新冠疫苗的疫苗制造商的转型。2021年迄今为止，Moderna的股价涨幅略高于207%，超过了该指数现有的领先者L Brands Inc.，后者上涨了约104%。</blockquote></p><p> In the runup to its inclusion in the U.S. benchmark, Moderna’s stock has made fresh highs advancing more than 30% over four sessions before a 2% dip on Tuesday. Its shares closed 4.5% higher at $321.11, another record, with a market value of about $129 billion.</p><p><blockquote>在纳入美国基准指数之前，Moderna的股价在四个交易日内上涨了30%以上，随后周二下跌了2%。其股价收高4.5%，报321.11美元，再创历史新高，市值约1290亿美元。</blockquote></p><p> Moderna’s rise has come largely from its innovations in developing messenger RNA vaccines, which use the body’s cells as mini vaccine factories. That has led some Wall Street analysts to call it the “Tesla of biotech” because the Cambridge, Massachusetts-based company is charting a course that may change the way infectious diseases are treated.</p><p><blockquote>Moderna的崛起很大程度上来自其在开发信使RNA疫苗方面的创新，该疫苗将人体细胞用作迷你疫苗工厂。这使得一些华尔街分析师将其看涨期权为“生物技术的特斯拉”，因为这家总部位于麻省剑桥的公司正在规划一条可能改变传染病治疗方式的路线。</blockquote></p><p> The company secured its place in the upper echelons of U.S. biotechs next to AbbVie Inc. and Amgen Inc. -- after receiving emergency authorization for its Covid-19 vaccination last December, just a week behind Pfizer Inc. and BioNTech SE.</p><p><blockquote>去年12月，该公司获得了Covid-19疫苗接种的紧急授权，仅比辉瑞公司和BioNTech SE落后一周，从而在美国生物技术公司的高端地位，仅次于艾伯维公司和安进公司。</blockquote></p><p> But the parallels with Tesla don’t necessarily bode well for Moderna’s stock. Since the day before Tesla’s inclusion in the benchmark in December, it has fallen about 6% versus the index’s gain of nearly 18%. Other recent additions to the index have also underperformed.</p><p><blockquote>但与特斯拉的相似之处对Moderna的股票来说并不一定是好兆头。自12月特斯拉被纳入基准指数的前一天以来，该指数已下跌约6%，而该指数则上涨了近18%。该指数最近的其他成分股也表现不佳。</blockquote></p><p> Shares of companies entering the index typically rally ahead of the inclusion as investors adjust their portfolios. Moderna’s shares were already losing steam on Tuesday, closing 2% lower at $307.33.</p><p><blockquote>随着投资者调整投资组合，进入该指数的公司的股价通常会在纳入之前上涨。Moderna的股价周二已经失去动力，收盘下跌2%，至307.33美元。</blockquote></p><p> Skeptics of Moderna’s surge in recent months note that its pipeline is in the early stages of human testing while the market for Covid-19 booster shots isn’t yet fully understood.</p><p><blockquote>对Moderna近几个月激增持怀疑态度的人指出，其管道正处于人体测试的早期阶段，而Covid-19加强注射的市场尚未完全了解。</blockquote></p><p> Still, recent lab results show Moderna’s jab produces antibodies against the Covid-19 Delta variant. Analysts at Goldman Sachs also predict Moderna could have a new flu shot on the market by 2023 and a combination of a flu and Covid-19 vaccine as soon as 2024. The company also is working on new vaccines and medicines for cancer and HIV as well as Zika and heart disease.</p><p><blockquote>尽管如此，最近的实验室结果显示，Moderna的疫苗会产生针对Covid-19德尔塔变异毒株的抗体。高盛分析师还预测，Moderna可能会在2023年之前向市场推出一种新的流感疫苗，最早在2024年推出流感和Covid-19疫苗的组合疫苗。该公司还在研究治疗癌症和艾滋病毒以及寨卡病毒和心脏病的新疫苗和药物。</blockquote></p><p> A survey of 191 hedge funds and institutional investors from Jefferies trading desk indicated that roughly 73% of respondents expect Moderna shares to be little changed or to fall 20% or worse into year end. The investors were most keenly focused on a delta booster and flu shot results, while only 13% were long Moderna.</p><p><blockquote>Jefferies trading desk对191家对冲基金和机构投资者的调查显示，大约73%的受访者预计Moderna股价到年底变化不大或下跌20%或更糟。投资者最关注的是delta加强剂和流感疫苗的结果，而只有13%的投资者做多Moderna。</blockquote></p><p> “In the end, we still have no idea who is buying the stock,” Will Sevush, a strategist with Jefferies wrote to clients, “bulls are very few and very far between.”</p><p><blockquote>杰富瑞(Jefferies)策略师威尔·塞武什(Will Sevush)在给客户的信中写道：“最终，我们仍然不知道谁在购买这只股票，多头很少，而且相距甚远。”</blockquote></p><p> Sales of mRNA-1273, as Moderna’s Covid inoculation is called, are likely to beat Wall Street consensus for $18.1 billion in 2021, according to Goldman. But even the Wall Street high price target of $299 from Moderna’s biggest enthusiast -- Goldman analyst Salveen Richter -- implies further retreat.</p><p><blockquote>据高盛称，mRNA-1273（Moderna的新冠疫苗）的销售额在2021年可能会超过华尔街预期的181亿美元。但即使是Moderna最大的爱好者、高盛分析师Salveen Richter给出的299美元的华尔街高目标价也意味着进一步撤退。</blockquote></p><p></p>","source":"lsy1612507957220","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>Moderna Joins Top S&P 500 Firms as Stock Value Triples<blockquote>Moderna加入标普500顶级公司行列，股价上涨两倍</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\">\nModerna Joins Top S&P 500 Firms as Stock Value Triples<blockquote>Moderna加入标普500顶级公司行列，股价上涨两倍</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Bloomberg</strong><span class=\"h-time small\">2021-07-22 10:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p>(Bloomberg) -- Moderna Inc. joined the S&amp;P 500 on Wednesday as the index’s the best performing stock this year -- by a mile.</p><p><blockquote>（彭博社）——Moderna Inc.周三加入标普500，成为该指数今年表现最好的股票——遥遥领先。</blockquote></p><p> The move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of just over 207% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 104%.</p><p><blockquote>此举标志着这家制药商从早期生物技术公司向向世界提供新冠疫苗的疫苗制造商的转型。2021年迄今为止，Moderna的股价涨幅略高于207%，超过了该指数现有的领先者L Brands Inc.，后者上涨了约104%。</blockquote></p><p> In the runup to its inclusion in the U.S. benchmark, Moderna’s stock has made fresh highs advancing more than 30% over four sessions before a 2% dip on Tuesday. Its shares closed 4.5% higher at $321.11, another record, with a market value of about $129 billion.</p><p><blockquote>在纳入美国基准指数之前，Moderna的股价在四个交易日内上涨了30%以上，随后周二下跌了2%。其股价收高4.5%，报321.11美元，再创历史新高，市值约1290亿美元。</blockquote></p><p> Moderna’s rise has come largely from its innovations in developing messenger RNA vaccines, which use the body’s cells as mini vaccine factories. That has led some Wall Street analysts to call it the “Tesla of biotech” because the Cambridge, Massachusetts-based company is charting a course that may change the way infectious diseases are treated.</p><p><blockquote>Moderna的崛起很大程度上来自其在开发信使RNA疫苗方面的创新，该疫苗将人体细胞用作迷你疫苗工厂。这使得一些华尔街分析师将其看涨期权为“生物技术的特斯拉”，因为这家总部位于麻省剑桥的公司正在规划一条可能改变传染病治疗方式的路线。</blockquote></p><p> The company secured its place in the upper echelons of U.S. biotechs next to AbbVie Inc. and Amgen Inc. -- after receiving emergency authorization for its Covid-19 vaccination last December, just a week behind Pfizer Inc. and BioNTech SE.</p><p><blockquote>去年12月，该公司获得了Covid-19疫苗接种的紧急授权，仅比辉瑞公司和BioNTech SE落后一周，从而在美国生物技术公司的高端地位，仅次于艾伯维公司和安进公司。</blockquote></p><p> But the parallels with Tesla don’t necessarily bode well for Moderna’s stock. Since the day before Tesla’s inclusion in the benchmark in December, it has fallen about 6% versus the index’s gain of nearly 18%. Other recent additions to the index have also underperformed.</p><p><blockquote>但与特斯拉的相似之处对Moderna的股票来说并不一定是好兆头。自12月特斯拉被纳入基准指数的前一天以来，该指数已下跌约6%，而该指数则上涨了近18%。该指数最近的其他成分股也表现不佳。</blockquote></p><p> Shares of companies entering the index typically rally ahead of the inclusion as investors adjust their portfolios. Moderna’s shares were already losing steam on Tuesday, closing 2% lower at $307.33.</p><p><blockquote>随着投资者调整投资组合，进入该指数的公司的股价通常会在纳入之前上涨。Moderna的股价周二已经失去动力，收盘下跌2%，至307.33美元。</blockquote></p><p> Skeptics of Moderna’s surge in recent months note that its pipeline is in the early stages of human testing while the market for Covid-19 booster shots isn’t yet fully understood.</p><p><blockquote>对Moderna近几个月激增持怀疑态度的人指出，其管道正处于人体测试的早期阶段，而Covid-19加强注射的市场尚未完全了解。</blockquote></p><p> Still, recent lab results show Moderna’s jab produces antibodies against the Covid-19 Delta variant. Analysts at Goldman Sachs also predict Moderna could have a new flu shot on the market by 2023 and a combination of a flu and Covid-19 vaccine as soon as 2024. The company also is working on new vaccines and medicines for cancer and HIV as well as Zika and heart disease.</p><p><blockquote>尽管如此，最近的实验室结果显示，Moderna的疫苗会产生针对Covid-19德尔塔变异毒株的抗体。高盛分析师还预测，Moderna可能会在2023年之前向市场推出一种新的流感疫苗，最早在2024年推出流感和Covid-19疫苗的组合疫苗。该公司还在研究治疗癌症和艾滋病毒以及寨卡病毒和心脏病的新疫苗和药物。</blockquote></p><p> A survey of 191 hedge funds and institutional investors from Jefferies trading desk indicated that roughly 73% of respondents expect Moderna shares to be little changed or to fall 20% or worse into year end. The investors were most keenly focused on a delta booster and flu shot results, while only 13% were long Moderna.</p><p><blockquote>Jefferies trading desk对191家对冲基金和机构投资者的调查显示，大约73%的受访者预计Moderna股价到年底变化不大或下跌20%或更糟。投资者最关注的是delta加强剂和流感疫苗的结果，而只有13%的投资者做多Moderna。</blockquote></p><p> “In the end, we still have no idea who is buying the stock,” Will Sevush, a strategist with Jefferies wrote to clients, “bulls are very few and very far between.”</p><p><blockquote>杰富瑞(Jefferies)策略师威尔·塞武什(Will Sevush)在给客户的信中写道：“最终，我们仍然不知道谁在购买这只股票，多头很少，而且相距甚远。”</blockquote></p><p> Sales of mRNA-1273, as Moderna’s Covid inoculation is called, are likely to beat Wall Street consensus for $18.1 billion in 2021, according to Goldman. But even the Wall Street high price target of $299 from Moderna’s biggest enthusiast -- Goldman analyst Salveen Richter -- implies further retreat.</p><p><blockquote>据高盛称，mRNA-1273（Moderna的新冠疫苗）的销售额在2021年可能会超过华尔街预期的181亿美元。但即使是Moderna最大的爱好者、高盛分析师Salveen Richter给出的299美元的华尔街高目标价也意味着进一步撤退。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/moderna-joins-top-firms-p-110555617.html\">Bloomberg</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":{"MRNA":"Moderna, Inc."},"source_url":"https://finance.yahoo.com/news/moderna-joins-top-firms-p-110555617.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105130573","content_text":"(Bloomberg) -- Moderna Inc. joined the S&P 500 on Wednesday as the index’s the best performing stock this year -- by a mile.\nThe move caps the drugmaker’s transformation from an early-stage biotech to a vaccine maker supplying Covid shots to the world. With a gain of just over 207% so far in 2021, Moderna’s share performance tops the index’s existing leader, L Brands Inc., which has risen about 104%.\nIn the runup to its inclusion in the U.S. benchmark, Moderna’s stock has made fresh highs advancing more than 30% over four sessions before a 2% dip on Tuesday. Its shares closed 4.5% higher at $321.11, another record, with a market value of about $129 billion.\nModerna’s rise has come largely from its innovations in developing messenger RNA vaccines, which use the body’s cells as mini vaccine factories. That has led some Wall Street analysts to call it the “Tesla of biotech” because the Cambridge, Massachusetts-based company is charting a course that may change the way infectious diseases are treated.\nThe company secured its place in the upper echelons of U.S. biotechs next to AbbVie Inc. and Amgen Inc. -- after receiving emergency authorization for its Covid-19 vaccination last December, just a week behind Pfizer Inc. and BioNTech SE.\nBut the parallels with Tesla don’t necessarily bode well for Moderna’s stock. Since the day before Tesla’s inclusion in the benchmark in December, it has fallen about 6% versus the index’s gain of nearly 18%. Other recent additions to the index have also underperformed.\nShares of companies entering the index typically rally ahead of the inclusion as investors adjust their portfolios. Moderna’s shares were already losing steam on Tuesday, closing 2% lower at $307.33.\nSkeptics of Moderna’s surge in recent months note that its pipeline is in the early stages of human testing while the market for Covid-19 booster shots isn’t yet fully understood.\nStill, recent lab results show Moderna’s jab produces antibodies against the Covid-19 Delta variant. Analysts at Goldman Sachs also predict Moderna could have a new flu shot on the market by 2023 and a combination of a flu and Covid-19 vaccine as soon as 2024. The company also is working on new vaccines and medicines for cancer and HIV as well as Zika and heart disease.\nA survey of 191 hedge funds and institutional investors from Jefferies trading desk indicated that roughly 73% of respondents expect Moderna shares to be little changed or to fall 20% or worse into year end. The investors were most keenly focused on a delta booster and flu shot results, while only 13% were long Moderna.\n“In the end, we still have no idea who is buying the stock,” Will Sevush, a strategist with Jefferies wrote to clients, “bulls are very few and very far between.”\nSales of mRNA-1273, as Moderna’s Covid inoculation is called, are likely to beat Wall Street consensus for $18.1 billion in 2021, according to Goldman. But even the Wall Street high price target of $299 from Moderna’s biggest enthusiast -- Goldman analyst Salveen Richter -- implies further retreat.","news_type":1,"symbols_score_info":{"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":1889,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":172053630,"gmtCreate":1626922535620,"gmtModify":1633769693314,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good to own this. Please like. Thanks","listText":"Good to own this. Please like. Thanks","text":"Good to own this. Please like. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/172053630","repostId":"2153123625","repostType":4,"isVote":1,"tweetType":1,"viewCount":520,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178793665,"gmtCreate":1626835570957,"gmtModify":1633770537831,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Thanks for posting this good summary.&nbsp;","listText":"Thanks for posting this good summary.&nbsp;","text":"Thanks for posting this good summary.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178793665","repostId":"2153924256","repostType":4,"isVote":1,"tweetType":1,"viewCount":659,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175800452,"gmtCreate":1627017870176,"gmtModify":1633768720759,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good to know. Like please. Thanks much","listText":"Good to know. Like please. Thanks much","text":"Good to know. Like please. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175800452","repostId":"2153918609","repostType":4,"isVote":1,"tweetType":1,"viewCount":1980,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175174705,"gmtCreate":1627017742307,"gmtModify":1633768722391,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Phenomenal. Please like. Thanks","listText":"Phenomenal. Please like. Thanks","text":"Phenomenal. Please like. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175174705","repostId":"2153787206","repostType":4,"isVote":1,"tweetType":1,"viewCount":1641,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":178738764,"gmtCreate":1626836301958,"gmtModify":1631883986799,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"If you are an investor, trade wisely. If you are a speculator, trade with the flow. As if I’m an expert… hehe. Just trying out my first comment. Like please.&nbsp;","listText":"If you are an investor, trade wisely. If you are a speculator, trade with the flow. As if I’m an expert… hehe. Just trying out my first comment. Like please.&nbsp;","text":"If you are an investor, trade wisely. If you are a speculator, trade with the flow. As if I’m an expert… hehe. Just trying out my first comment. Like please.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/178738764","repostId":"2153911886","repostType":4,"isVote":1,"tweetType":1,"viewCount":357,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809426222,"gmtCreate":1627388655666,"gmtModify":1633765498766,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Nice analysis. Thanks","listText":"Nice analysis. Thanks","text":"Nice analysis. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809426222","repostId":"1180394633","repostType":4,"isVote":1,"tweetType":1,"viewCount":1247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175172731,"gmtCreate":1627017598923,"gmtModify":1633768724290,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good review. Please like. Thanks much","listText":"Good review. Please like. Thanks much","text":"Good review. Please like. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/175172731","repostId":"1191333381","repostType":4,"repost":{"id":"1191333381","kind":"news","pubTimestamp":1627012258,"share":"https://www.laohu8.com/m/news/1191333381?lang=zh_CN&edition=full","pubTime":"2021-07-23 11:50","market":"uk","language":"en","title":"Asian Markets Mostly Lower Cautious Trade<blockquote>亚洲市场大多走低谨慎交易</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1191333381","media":"RTTNews","summary":"Asian stock markets are trading mostly lower on Friday, ignoring the positive cues overnight from Wa","content":"<p>Asian stock&nbsp;markets&nbsp;are trading mostly lower on Friday, ignoring the positive cues overnight from Wall Street, as lingering worries over rising spread of the delta variant of the coronavirus in several parts across the world rendered the mood cautious. The markets are supported mainly by crude oil prices as they continue to recover from the recent selling-off. Asian markets ended mostly higher on Thursday.</p><p><blockquote>亚洲股市周五大多走低，忽略了隔夜华尔街的积极信号，因为对冠状病毒德尔塔变异毒株在全球多个地区蔓延的担忧挥之不去，导致市场情绪谨慎。随着原油价格继续从最近的抛售中恢复，市场主要受到原油价格的支撑。亚洲市场周四大多收高。</blockquote></p><p> Australian stock market is slightly higher after early losses on Friday, extending the gains in the previous two sessions, with the benchmark S&amp;P/ASX 200 staying just below the 7,400 level, following the positive cues overnight from Wall Street. Traders also remain concerned amid the rapid spread of the highly contagiouscoronavirusvariants in four states and some regional areas, with lockdowns in three of the country's major cities limiting economic activity.</p><p><blockquote>澳大利亚股市在周五早盘下跌后小幅走高，延续了前两个交易日的涨幅，继隔夜华尔街发出积极信号后，基准S&amp;P/ASX 200指数略低于7,400点水平。交易商还对高传染性冠状病毒变种在四个州和一些地区迅速传播感到担忧，该国三个主要城市的封锁限制了经济活动。</blockquote></p><p> The benchmark S&amp;P/ASX 200 Index is gaining 9.80 points or 0.13 percent to 7,396.20, after hitting a low of 7,357.00 earlier. The broader All Ordinaries Index is up 14.50 points or 0.19 percent to 7,673.40. Australian markets ended modestly higher on Thursday.</p><p><blockquote>基准S&amp;P/ASX 200指数上涨9.80点或0.13%，至7,396.20点，此前曾触及7,357.00点的低点。更广泛的所有普通股指数上涨14.50点或0.19%，至7,673.40点。澳大利亚股市周四小幅收高。</blockquote></p><p> Among major miners, <a href=\"https://laohu8.com/S/BHP\">BHP Billiton</a> is edging down 0.2 percent, while <a href=\"https://laohu8.com/S/RIO\">Rio Tinto PLC</a> and <a href=\"https://laohu8.com/S/OZMLF\">OZ Minerals Ltd.</a> are losing 0.5 percent each. <a href=\"https://laohu8.com/S/MALRF\">Mineral Resources Ltd.</a> is edging up 0.4 percent. <a href=\"https://laohu8.com/S/FSUGY\">Fortescue Metals Group Ltd</a> is flat.</p><p><blockquote>在主要矿商中，<a href=\"https://laohu8.com/S/BHP\">必和必拓</a>小幅下降0.2%，而<a href=\"https://laohu8.com/S/RIO\">力拓集团</a>和<a href=\"https://laohu8.com/S/OZMLF\">奥兹矿业有限公司。</a>各损失0.5%。<a href=\"https://laohu8.com/S/MALRF\">矿产资源有限公司。</a>小幅上涨0.4%。<a href=\"https://laohu8.com/S/FSUGY\">福蒂斯丘金属集团有限公司</a>是平的。</blockquote></p><p> Oil stocks are mixed. Oil Search is losing more than 1 percent, while <a href=\"https://laohu8.com/S/WOPEF\">Woodside Petroleum Ltd.</a> and Beach energy are edging down 0.4 percent each. Santos is down almost 2 percent, while Origin Energy is edging up 0.2 percent.</p><p><blockquote>石油股涨跌互现。石油搜索损失超过1%，而<a href=\"https://laohu8.com/S/WOPEF\">伍德赛德石油有限公司。</a>和Beach energy均小幅下跌0.4%。Santos下跌近2%，Origin Energy小幅上涨0.2%。</blockquote></p><p> Among tech stocks, <a href=\"https://laohu8.com/S/XRO.AU\">Xero</a> is gaining almost 2 percent, <a href=\"https://laohu8.com/S/WIGBY\">Wisetech Global</a> is adding almost 1 percent and Appen is up more than 2 percent. Afterpay is rising almost 3 percent.</p><p><blockquote>在科技股中，<a href=\"https://laohu8.com/S/XRO.AU\">Xero</a>增长了近2%，<a href=\"https://laohu8.com/S/WIGBY\">慧科环球</a>上涨近1%，澳鹏上涨超过2%。Afterpay上涨了近3%。</blockquote></p><p> Shares in <a href=\"https://laohu8.com/S/Z1P.AU\">Zip</a> are gaining more than 3 percent after reports that the buy now, pay later (BNPL) firm is looking to provide users a chance to trade in cryptocurrencies as it braces for competition from <a href=\"https://laohu8.com/S/AAPL\">Apple</a> and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</p><p><blockquote>于<a href=\"https://laohu8.com/S/Z1P.AU\">拉链</a>有报道称，这家先买后付(BNPL)公司正在寻求为用户提供加密货币交易的机会，以应对来自<a href=\"https://laohu8.com/S/AAPL\">苹果</a>和<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</blockquote></p><p> Among the big four banks, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac are all losing almost 1 percent each.</p><p><blockquote>在四大银行中，澳大利亚国民银行、联邦银行、澳新银行和西太平洋银行均下跌近1%。</blockquote></p><p> Gold miners are mostly lower. Newcrest Mining is edging down 0.1 percent, while Resolute Mining and Gold Road Resources are down more than 2 percent each. <a href=\"https://laohu8.com/S/NST.AU\">Northern Star Resources</a> is losing almost 5 percent, while <a href=\"https://laohu8.com/S/EVN.AU\">Evolution Mining</a> is gaining more than 4 percent.</p><p><blockquote>金矿商大多较低。Newcrest Mining小幅下跌0.1%，Resolute Mining和Gold Road Resources均下跌超过2%。<a href=\"https://laohu8.com/S/NST.AU\">北极星资源</a>损失了近5%，而<a href=\"https://laohu8.com/S/EVN.AU\">进化挖掘</a>涨幅超过4%。</blockquote></p><p> In other news, Australian casino operator <a href=\"https://laohu8.com/S/SGR.AU\">Star Entertainment</a> Group has withdrawn a $9 billion merger proposal with beleaguered rival Crown Resorts, on fears that it could lose the main licence to operate its Melbourne casino. Crown Resorts stock is down more than 2 percent.</p><p><blockquote>其他消息，澳大利亚赌场运营商<a href=\"https://laohu8.com/S/SGR.AU\">明星娱乐</a>该集团撤回了与陷入困境的竞争对手皇冠度假村(Crown Resorts)价值90亿美元的合并提议，原因是担心该集团可能会失去经营墨尔本赌场的主要许可证。皇冠度假村股价下跌超过2%。</blockquote></p><p> In economic news, the services sector in Australia fell hard into contraction territory in July, the latest survey from <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Economics revealed on Friday with a 14-month low services PMI score of 44.2. That's down sharply from 56.8 in June and it moves well beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that Australia's manufacturing PMI fell from 58.6 in June to 56.8 in July. The composite PMI slumped to 45.2 from 56.7 in the previous month.</p><p><blockquote>经济消息方面，澳大利亚服务业7月份严重陷入收缩区间，最新调查显示<a href=\"https://laohu8.com/S/MRKT\">Markit</a>周五公布的经济数据显示，服务业PMI得分为44.2，创14个月新低。这一数字较6月份的56.8大幅下降，远低于区分扩张与收缩的荣枯线50。调查还显示，澳大利亚7月制造业PMI从6月的58.6降至56.8。综合PMI从上月的56.7跌至45.2。</blockquote></p><p> In the currency market, the Aussie dollar is trading at $0.738 on Friday.</p><p><blockquote>货币市场方面，周五澳元兑美元汇率为0.738美元。</blockquote></p><p> The Japanese stock market is closed for a long weekend on Thursday and Friday for public holidays, with the Tokyo 2020 Olympics opening ceremony on Friday. Japanese shares ended significantly higher on Wednesday.</p><p><blockquote>日本股市周四和周五因公共假期休市一个长周末，周五是东京2020奥运会开幕式。日本股市周三大幅收高。</blockquote></p><p> In the currency market, the U.S. dollar is trading in the lower 110 yen-range on Friday.</p><p><blockquote>在货币市场，周五美元兑日元汇率在110日元的较低区间内交易。</blockquote></p><p> Elsewhere in Asia, Hong Kong is losing 1 percent, while New Zealand, Indonesia, Malaysia, China and Singapore are all lower by between 0.1 and 0.5 percent each. South Korea is bucking the trend and is up 0.2 percent, while Taiwan is relatively flat.</p><p><blockquote>在亚洲其他地区，香港下降了1%，而新西兰、印度尼西亚、马来西亚、中国和新加坡都下降了0.1%至0.5%。韩国逆势上涨0.2%，而台湾则相对持平。</blockquote></p><p> On Wall Street, stocks showed a lack of direction over much of the trading day on Thursday before ending the session modestly higher. With the uptick on the day, the major averages extended the rebound seen over the two previous sessions.</p><p><blockquote>在华尔街，周四交易日的大部分时间里，股市都缺乏方向，最终小幅走高。随着当天的上涨，主要股指延续了前两个交易日的反弹。</blockquote></p><p> The major averages all finished the day in positive territory but off their highs of the session. The Dow inched up 25.35 points or 0.1 percent to 34,823.35, the Nasdaq rose 52.64 points or 0.4 percent to 14,684.60 and the S&amp;P 500 edged up 8.79 points or 0.2 percent to 4,367.48.</p><p><blockquote>主要股指均以正值收盘，但均脱离盘中高点。道琼斯指数小幅上涨25.35点或0.1%，至34,823.35点；纳斯达克指数上涨52.64点或0.4%，至14,684.60点；标普500指数小幅上涨8.79点或0.2%，至4,367.48点。</blockquote></p><p></p><p> Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index fell by 0.4 percent, the French CAC 40 Index edged up by 0.3 percent and the German DAX Index climbed by 0.6 percent.</p><p><blockquote>与此同时，欧洲主要市场当天表现好坏参半。英国富时100指数下跌0.4%，法国CAC 40指数小幅上涨0.3%，德国DAX指数上涨0.6%。</blockquote></p><p> Crude oil futures settled higher on Thursday, gaining for a third successive day, thanks to reports showing strong gasoline demand and a rebound in distillate fuels. West Texas Intermediate crude oil futures for September ended up $1.61 or 2.3 percent at $71.91 a barrel.</p><p><blockquote>原油期货周四收高，连续第三天上涨，因报告显示汽油需求强劲以及馏分油反弹。西德克萨斯中质原油9月期货收涨1.61美元或2.3%，报每桶71.91美元。</blockquote></p><p></p>","source":"lsy1626938412129","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>Asian Markets Mostly Lower Cautious Trade<blockquote>亚洲市场大多走低谨慎交易</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\">\nAsian Markets Mostly Lower Cautious Trade<blockquote>亚洲市场大多走低谨慎交易</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">RTTNews</strong><span class=\"h-time small\">2021-07-23 11:50</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Asian stock&nbsp;markets&nbsp;are trading mostly lower on Friday, ignoring the positive cues overnight from Wall Street, as lingering worries over rising spread of the delta variant of the coronavirus in several parts across the world rendered the mood cautious. The markets are supported mainly by crude oil prices as they continue to recover from the recent selling-off. Asian markets ended mostly higher on Thursday.</p><p><blockquote>亚洲股市周五大多走低，忽略了隔夜华尔街的积极信号，因为对冠状病毒德尔塔变异毒株在全球多个地区蔓延的担忧挥之不去，导致市场情绪谨慎。随着原油价格继续从最近的抛售中恢复，市场主要受到原油价格的支撑。亚洲市场周四大多收高。</blockquote></p><p> Australian stock market is slightly higher after early losses on Friday, extending the gains in the previous two sessions, with the benchmark S&amp;P/ASX 200 staying just below the 7,400 level, following the positive cues overnight from Wall Street. Traders also remain concerned amid the rapid spread of the highly contagiouscoronavirusvariants in four states and some regional areas, with lockdowns in three of the country's major cities limiting economic activity.</p><p><blockquote>澳大利亚股市在周五早盘下跌后小幅走高，延续了前两个交易日的涨幅，继隔夜华尔街发出积极信号后，基准S&amp;P/ASX 200指数略低于7,400点水平。交易商还对高传染性冠状病毒变种在四个州和一些地区迅速传播感到担忧，该国三个主要城市的封锁限制了经济活动。</blockquote></p><p> The benchmark S&amp;P/ASX 200 Index is gaining 9.80 points or 0.13 percent to 7,396.20, after hitting a low of 7,357.00 earlier. The broader All Ordinaries Index is up 14.50 points or 0.19 percent to 7,673.40. Australian markets ended modestly higher on Thursday.</p><p><blockquote>基准S&amp;P/ASX 200指数上涨9.80点或0.13%，至7,396.20点，此前曾触及7,357.00点的低点。更广泛的所有普通股指数上涨14.50点或0.19%，至7,673.40点。澳大利亚股市周四小幅收高。</blockquote></p><p> Among major miners, <a href=\"https://laohu8.com/S/BHP\">BHP Billiton</a> is edging down 0.2 percent, while <a href=\"https://laohu8.com/S/RIO\">Rio Tinto PLC</a> and <a href=\"https://laohu8.com/S/OZMLF\">OZ Minerals Ltd.</a> are losing 0.5 percent each. <a href=\"https://laohu8.com/S/MALRF\">Mineral Resources Ltd.</a> is edging up 0.4 percent. <a href=\"https://laohu8.com/S/FSUGY\">Fortescue Metals Group Ltd</a> is flat.</p><p><blockquote>在主要矿商中，<a href=\"https://laohu8.com/S/BHP\">必和必拓</a>小幅下降0.2%，而<a href=\"https://laohu8.com/S/RIO\">力拓集团</a>和<a href=\"https://laohu8.com/S/OZMLF\">奥兹矿业有限公司。</a>各损失0.5%。<a href=\"https://laohu8.com/S/MALRF\">矿产资源有限公司。</a>小幅上涨0.4%。<a href=\"https://laohu8.com/S/FSUGY\">福蒂斯丘金属集团有限公司</a>是平的。</blockquote></p><p> Oil stocks are mixed. Oil Search is losing more than 1 percent, while <a href=\"https://laohu8.com/S/WOPEF\">Woodside Petroleum Ltd.</a> and Beach energy are edging down 0.4 percent each. Santos is down almost 2 percent, while Origin Energy is edging up 0.2 percent.</p><p><blockquote>石油股涨跌互现。石油搜索损失超过1%，而<a href=\"https://laohu8.com/S/WOPEF\">伍德赛德石油有限公司。</a>和Beach energy均小幅下跌0.4%。Santos下跌近2%，Origin Energy小幅上涨0.2%。</blockquote></p><p> Among tech stocks, <a href=\"https://laohu8.com/S/XRO.AU\">Xero</a> is gaining almost 2 percent, <a href=\"https://laohu8.com/S/WIGBY\">Wisetech Global</a> is adding almost 1 percent and Appen is up more than 2 percent. Afterpay is rising almost 3 percent.</p><p><blockquote>在科技股中，<a href=\"https://laohu8.com/S/XRO.AU\">Xero</a>增长了近2%，<a href=\"https://laohu8.com/S/WIGBY\">慧科环球</a>上涨近1%，澳鹏上涨超过2%。Afterpay上涨了近3%。</blockquote></p><p> Shares in <a href=\"https://laohu8.com/S/Z1P.AU\">Zip</a> are gaining more than 3 percent after reports that the buy now, pay later (BNPL) firm is looking to provide users a chance to trade in cryptocurrencies as it braces for competition from <a href=\"https://laohu8.com/S/AAPL\">Apple</a> and <a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</p><p><blockquote>于<a href=\"https://laohu8.com/S/Z1P.AU\">拉链</a>有报道称，这家先买后付(BNPL)公司正在寻求为用户提供加密货币交易的机会，以应对来自<a href=\"https://laohu8.com/S/AAPL\">苹果</a>和<a href=\"https://laohu8.com/S/PYPL\">PayPal</a>.</blockquote></p><p> Among the big four banks, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac are all losing almost 1 percent each.</p><p><blockquote>在四大银行中，澳大利亚国民银行、联邦银行、澳新银行和西太平洋银行均下跌近1%。</blockquote></p><p> Gold miners are mostly lower. Newcrest Mining is edging down 0.1 percent, while Resolute Mining and Gold Road Resources are down more than 2 percent each. <a href=\"https://laohu8.com/S/NST.AU\">Northern Star Resources</a> is losing almost 5 percent, while <a href=\"https://laohu8.com/S/EVN.AU\">Evolution Mining</a> is gaining more than 4 percent.</p><p><blockquote>金矿商大多较低。Newcrest Mining小幅下跌0.1%，Resolute Mining和Gold Road Resources均下跌超过2%。<a href=\"https://laohu8.com/S/NST.AU\">北极星资源</a>损失了近5%，而<a href=\"https://laohu8.com/S/EVN.AU\">进化挖掘</a>涨幅超过4%。</blockquote></p><p> In other news, Australian casino operator <a href=\"https://laohu8.com/S/SGR.AU\">Star Entertainment</a> Group has withdrawn a $9 billion merger proposal with beleaguered rival Crown Resorts, on fears that it could lose the main licence to operate its Melbourne casino. Crown Resorts stock is down more than 2 percent.</p><p><blockquote>其他消息，澳大利亚赌场运营商<a href=\"https://laohu8.com/S/SGR.AU\">明星娱乐</a>该集团撤回了与陷入困境的竞争对手皇冠度假村(Crown Resorts)价值90亿美元的合并提议，原因是担心该集团可能会失去经营墨尔本赌场的主要许可证。皇冠度假村股价下跌超过2%。</blockquote></p><p> In economic news, the services sector in Australia fell hard into contraction territory in July, the latest survey from <a href=\"https://laohu8.com/S/MRKT\">Markit</a> Economics revealed on Friday with a 14-month low services PMI score of 44.2. That's down sharply from 56.8 in June and it moves well beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that Australia's manufacturing PMI fell from 58.6 in June to 56.8 in July. The composite PMI slumped to 45.2 from 56.7 in the previous month.</p><p><blockquote>经济消息方面，澳大利亚服务业7月份严重陷入收缩区间，最新调查显示<a href=\"https://laohu8.com/S/MRKT\">Markit</a>周五公布的经济数据显示，服务业PMI得分为44.2，创14个月新低。这一数字较6月份的56.8大幅下降，远低于区分扩张与收缩的荣枯线50。调查还显示，澳大利亚7月制造业PMI从6月的58.6降至56.8。综合PMI从上月的56.7跌至45.2。</blockquote></p><p> In the currency market, the Aussie dollar is trading at $0.738 on Friday.</p><p><blockquote>货币市场方面，周五澳元兑美元汇率为0.738美元。</blockquote></p><p> The Japanese stock market is closed for a long weekend on Thursday and Friday for public holidays, with the Tokyo 2020 Olympics opening ceremony on Friday. Japanese shares ended significantly higher on Wednesday.</p><p><blockquote>日本股市周四和周五因公共假期休市一个长周末，周五是东京2020奥运会开幕式。日本股市周三大幅收高。</blockquote></p><p> In the currency market, the U.S. dollar is trading in the lower 110 yen-range on Friday.</p><p><blockquote>在货币市场，周五美元兑日元汇率在110日元的较低区间内交易。</blockquote></p><p> Elsewhere in Asia, Hong Kong is losing 1 percent, while New Zealand, Indonesia, Malaysia, China and Singapore are all lower by between 0.1 and 0.5 percent each. South Korea is bucking the trend and is up 0.2 percent, while Taiwan is relatively flat.</p><p><blockquote>在亚洲其他地区，香港下降了1%，而新西兰、印度尼西亚、马来西亚、中国和新加坡都下降了0.1%至0.5%。韩国逆势上涨0.2%，而台湾则相对持平。</blockquote></p><p> On Wall Street, stocks showed a lack of direction over much of the trading day on Thursday before ending the session modestly higher. With the uptick on the day, the major averages extended the rebound seen over the two previous sessions.</p><p><blockquote>在华尔街，周四交易日的大部分时间里，股市都缺乏方向，最终小幅走高。随着当天的上涨，主要股指延续了前两个交易日的反弹。</blockquote></p><p> The major averages all finished the day in positive territory but off their highs of the session. The Dow inched up 25.35 points or 0.1 percent to 34,823.35, the Nasdaq rose 52.64 points or 0.4 percent to 14,684.60 and the S&amp;P 500 edged up 8.79 points or 0.2 percent to 4,367.48.</p><p><blockquote>主要股指均以正值收盘，但均脱离盘中高点。道琼斯指数小幅上涨25.35点或0.1%，至34,823.35点；纳斯达克指数上涨52.64点或0.4%，至14,684.60点；标普500指数小幅上涨8.79点或0.2%，至4,367.48点。</blockquote></p><p></p><p> Meanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index fell by 0.4 percent, the French CAC 40 Index edged up by 0.3 percent and the German DAX Index climbed by 0.6 percent.</p><p><blockquote>与此同时，欧洲主要市场当天表现好坏参半。英国富时100指数下跌0.4%，法国CAC 40指数小幅上涨0.3%，德国DAX指数上涨0.6%。</blockquote></p><p> Crude oil futures settled higher on Thursday, gaining for a third successive day, thanks to reports showing strong gasoline demand and a rebound in distillate fuels. West Texas Intermediate crude oil futures for September ended up $1.61 or 2.3 percent at $71.91 a barrel.</p><p><blockquote>原油期货周四收高，连续第三天上涨，因报告显示汽油需求强劲以及馏分油反弹。西德克萨斯中质原油9月期货收涨1.61美元或2.3%，报每桶71.91美元。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.rttnews.com/3211307/asian-markets-mostly-lower-cautious-trade.aspx\">RTTNews</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":{"PYPL":"PayPal","WIGBY":"Wisetech Global","WOPEF":"Woodside Energy Group Ltd.","BHP":"必和必拓公司","RIO":"力拓","AAPL":"苹果",".UKX.UK":"富时100指数","MALRF":"Mineral Resources Ltd."},"source_url":"https://www.rttnews.com/3211307/asian-markets-mostly-lower-cautious-trade.aspx","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191333381","content_text":"Asian stock markets are trading mostly lower on Friday, ignoring the positive cues overnight from Wall Street, as lingering worries over rising spread of the delta variant of the coronavirus in several parts across the world rendered the mood cautious. The markets are supported mainly by crude oil prices as they continue to recover from the recent selling-off. Asian markets ended mostly higher on Thursday.\nAustralian stock market is slightly higher after early losses on Friday, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying just below the 7,400 level, following the positive cues overnight from Wall Street. Traders also remain concerned amid the rapid spread of the highly contagiouscoronavirusvariants in four states and some regional areas, with lockdowns in three of the country's major cities limiting economic activity.\nThe benchmark S&P/ASX 200 Index is gaining 9.80 points or 0.13 percent to 7,396.20, after hitting a low of 7,357.00 earlier. The broader All Ordinaries Index is up 14.50 points or 0.19 percent to 7,673.40. Australian markets ended modestly higher on Thursday.\nAmong major miners, BHP Billiton is edging down 0.2 percent, while Rio Tinto PLC and OZ Minerals Ltd. are losing 0.5 percent each. Mineral Resources Ltd. is edging up 0.4 percent. Fortescue Metals Group Ltd is flat.\nOil stocks are mixed. Oil Search is losing more than 1 percent, while Woodside Petroleum Ltd. and Beach energy are edging down 0.4 percent each. Santos is down almost 2 percent, while Origin Energy is edging up 0.2 percent.\nAmong tech stocks, Xero is gaining almost 2 percent, Wisetech Global is adding almost 1 percent and Appen is up more than 2 percent. Afterpay is rising almost 3 percent.\nShares in Zip are gaining more than 3 percent after reports that the buy now, pay later (BNPL) firm is looking to provide users a chance to trade in cryptocurrencies as it braces for competition from Apple and PayPal.\nAmong the big four banks, National Australia Bank, Commonwealth Bank, ANZ Banking and Westpac are all losing almost 1 percent each.\nGold miners are mostly lower. Newcrest Mining is edging down 0.1 percent, while Resolute Mining and Gold Road Resources are down more than 2 percent each. Northern Star Resources is losing almost 5 percent, while Evolution Mining is gaining more than 4 percent.\nIn other news, Australian casino operator Star Entertainment Group has withdrawn a $9 billion merger proposal with beleaguered rival Crown Resorts, on fears that it could lose the main licence to operate its Melbourne casino. Crown Resorts stock is down more than 2 percent.\nIn economic news, the services sector in Australia fell hard into contraction territory in July, the latest survey from Markit Economics revealed on Friday with a 14-month low services PMI score of 44.2. That's down sharply from 56.8 in June and it moves well beneath the boom-or-bust line of 50 that separates expansion from contraction. The survey also showed that Australia's manufacturing PMI fell from 58.6 in June to 56.8 in July. The composite PMI slumped to 45.2 from 56.7 in the previous month.\nIn the currency market, the Aussie dollar is trading at $0.738 on Friday.\nThe Japanese stock market is closed for a long weekend on Thursday and Friday for public holidays, with the Tokyo 2020 Olympics opening ceremony on Friday. Japanese shares ended significantly higher on Wednesday.\nIn the currency market, the U.S. dollar is trading in the lower 110 yen-range on Friday.\nElsewhere in Asia, Hong Kong is losing 1 percent, while New Zealand, Indonesia, Malaysia, China and Singapore are all lower by between 0.1 and 0.5 percent each. South Korea is bucking the trend and is up 0.2 percent, while Taiwan is relatively flat.\nOn Wall Street, stocks showed a lack of direction over much of the trading day on Thursday before ending the session modestly higher. With the uptick on the day, the major averages extended the rebound seen over the two previous sessions.\nThe major averages all finished the day in positive territory but off their highs of the session. The Dow inched up 25.35 points or 0.1 percent to 34,823.35, the Nasdaq rose 52.64 points or 0.4 percent to 14,684.60 and the S&P 500 edged up 8.79 points or 0.2 percent to 4,367.48.\nMeanwhile, the major European markets turned in a mixed performance on the day. While the U.K.'s FTSE 100 Index fell by 0.4 percent, the French CAC 40 Index edged up by 0.3 percent and the German DAX Index climbed by 0.6 percent.\nCrude oil futures settled higher on Thursday, gaining for a third successive day, thanks to reports showing strong gasoline demand and a rebound in distillate fuels. West Texas Intermediate crude oil futures for September ended up $1.61 or 2.3 percent at $71.91 a barrel.","news_type":1,"symbols_score_info":{"WOPEF":0.9,".UKX.UK":0.9,"MALRF":0.9,"OZMLF":0.9,"PYPL":0.9,"RIO":0.9,"BHP":0.9,"Z1P.AU":0.9,"AAPL":0.9,"WIGBY":0.9}},"isVote":1,"tweetType":1,"viewCount":1652,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":809424549,"gmtCreate":1627388870881,"gmtModify":1633765496934,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Snap it up!","listText":"Snap it up!","text":"Snap it up!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/809424549","repostId":"1118738178","repostType":4,"repost":{"id":"1118738178","kind":"news","pubTimestamp":1627385338,"share":"https://www.laohu8.com/m/news/1118738178?lang=zh_CN&edition=full","pubTime":"2021-07-27 19:28","market":"us","language":"en","title":"Snap Stock: One Of Fastest Growing Social Media Companies<blockquote>Snap股票：增长最快的社交媒体公司之一</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118738178","media":"seekingalpha","summary":"Summary\n\nSnap had a high bar to cross to impress investors. And not only did its Q2 results succeed ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Snap had a high bar to cross to impress investors. And not only did its Q2 results succeed but, looking out to its Q3 guidance, its prospects remain very attractive.</li>  <li>Snap's ARPU in North America was the highlight of its Q2 results.</li>  <li>Snap is not in the bargain basement. Hence, investors looking to buy at this stage will have to take a buy-and-hold investment strategy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce123df394d362ecf57640f1621162e3\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Geber86/E+ via Getty Images</span></p><p><blockquote><ul><li>Snap需要跨越很高的门槛才能给投资者留下深刻印象。不仅第二季度业绩取得成功，而且从第三季度指引来看，其前景仍然非常有吸引力。</li><li>Snap在北美的ARPU是其第二季度业绩的亮点。</li><li>Snap不在廉价地下室。因此，现阶段寻求买入的投资者必须采取买入并持有的投资策略。</li></ul><p class=\"t-img-caption\"><span>Geber86/E+来自盖蒂图片社</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Snap (SNAP) reported yet another impressive result and Q3 2021 guidance. And as we dig into its results, there are no obvious blemishes in the report. Snap continues growing its top line revenues at very strong rates, while its bottom line EBITDA growth is even more impressive.</p><p><blockquote>SNAP（SNAP）报告了另一项令人印象深刻的业绩和2021年第三季度指引。当我们深入研究其结果时，报告中没有明显的瑕疵。Snap的营收继续以非常强劲的速度增长，而其利润EBITDA增长则更加令人印象深刻。</blockquote></p><p> At 29x forward sales, the stock is not cheap. And investors considering this investment opportunity will have to adopt a very&nbsp;<i>strong-willed buy-and-hold investment strategy</i>. Because at this valuation, the stock is already pricing in a lot of future growth.</p><p><blockquote>以29倍的远期销售额计算，该股并不便宜。而考虑这一投资机会的投资者将不得不采取非常<i>意志坚定的买入并持有投资策略</i>.因为按照这个估值，该股已经消化了未来的大量增长。</blockquote></p><p> <b>Revenue Growth Rates Are Incredibly Strong</b></p><p><blockquote><b>收入增长率非常强劲</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72843b7d7a6cc562b484e25eac7cacbe\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: author's calculations; **high-end guidance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者计算；**高端指导</span></p></blockquote></p><p> Q2 2021 was always going to look strong given just how weak the advertising industry found itself in the same period a year ago. Thus, Snap shareholders were clearly expecting a lot. But to see Snap come out with more than triple digits y/y revenue growth rates? That was particularly stunning.</p><p><blockquote>考虑到一年前同期广告业的疲软程度，2021年第二季度看起来总是很强劲。因此，Snap股东显然期望很高。但看到Snap的收入同比增长率超过三位数？这尤其令人震惊。</blockquote></p><p> Previously, I had noted that investors should look beyond&nbsp;Snap's maturing MAUs in North America, and look towards its International opportunity as its next wave of growth opportunities.</p><p><blockquote>此前，我曾指出，投资者应该超越Snap在北美成熟的月活跃用户数，将其国际机遇视为下一波增长机会。</blockquote></p><p> However, even though its overseas revenues were strong, the real driver of Snap's returns come from the pricing power of its North America users:</p><p><blockquote>然而，尽管海外收入强劲，但Snap回报的真正驱动力来自北美用户的定价能力：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95aca2444a479c7dc060c03d6bf0cec3\" tg-width=\"640\" tg-height=\"126\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In the table above, I've stripped out all the other details for us to focus our discussions around Snap's Average Revenue Per User (\"ARPU\"). As you can see, pricing in North America was the real driver of revenues, with ARPU up 116% y/y. Why is this important?</p><p><blockquote>在上表中，我已经剔除了所有其他细节，以便我们将讨论的重点放在Snap的每用户平均收入（“ARPU”）上。正如您所看到的，北美的定价是收入的真正驱动力，ARPU同比增长116%。为什么这很重要？</blockquote></p><p> It's important because it shows that, even on the back of just 6% y/y growth in DAUs in North America, advertisers are eager to reach out and connect with Snap's young demographic and pay up for that opportunity.</p><p><blockquote>这很重要，因为它表明，即使北美DAU同比仅增长6%，广告商也渴望接触和联系Snap的年轻人群，并为这一机会付费。</blockquote></p><p> <b>Could Spectacles be the Next Wave of Growth for Snap?</b></p><p><blockquote><b>眼镜会成为Snap的下一波增长吗？</b></blockquote></p><p> For some time, Snap has been making investors aware that it's moving beyond just a social media platform and that it's now looking to take its Augmented Reality technology and deploy it into hardware.</p><p><blockquote>一段时间以来，Snap一直在让投资者意识到，它正在超越社交媒体平台，现在正在寻求将其增强现实技术部署到硬件中。</blockquote></p><p> At first, this was met with investor skepticism. After all, Snap was taking an asset-light and lucrative business and pivoting towards a hardware revenue business, with lower margins.</p><p><blockquote>起初，这遭到了投资者的质疑。毕竟，Snap正在采取轻资产且利润丰厚的业务，并转向利润率较低的硬件收入业务。</blockquote></p><p> Indeed, it didn't make much sense why Snap would make such a move. Particularly given that Snap had, without any hardware investment, grown very successfully and built the necessary technology to spring off other manufacturers' capital investment into a business with nearly $4.5 billion in run-rate revenues as of Q4 2021.</p><p><blockquote>事实上，Snap为什么会做出这样的举动并没有多大意义。特别是考虑到Snap在没有任何硬件投资的情况下发展非常成功，并建立了必要的技术，将其他制造商的资本投资转化为截至2021年第四季度运行收入近45亿美元的业务。</blockquote></p><p> Having said that, Snap asserts that by further developing its&nbsp;Spectacles business unit, users can not only create more immersive content, but they will have access to other uses as well.</p><p><blockquote>话虽如此，Snap声称，通过进一步发展其眼镜业务部门，用户不仅可以创建更身临其境的内容，还可以访问其他用途。</blockquote></p><p> For instance, by using Spectacles, users can use AR try-on technology to emulate a physical shopping experience and get clothing with the right fit and the right size, to reduce the need for online returns.</p><p><blockquote>例如，通过使用眼镜，用户可以使用AR试穿技术来模拟实体购物体验，并获得合适尺寸的衣服，以减少在线退货的需求。</blockquote></p><p> The underlying idea is to increase user engagement and build an increased digital inventory of the users' life journeys. Other uses could be to increase the personalization of an online shopping experience.</p><p><blockquote>潜在的想法是增加用户参与度，并建立用户生活旅程的数字清单。其他用途可以是增加在线购物体验的个性化。</blockquote></p><p> This is something that is likely to resonate strongly with Snap's young demographic and offers Snap an opportunity to differentiate itself against other players in this space.</p><p><blockquote>这可能会引起Snap年轻人的强烈共鸣，并为Snap提供了在该领域与其他参与者区分开来的机会。</blockquote></p><p> While Snap is quick to note that this is not yet a fully-fledged solution, it's nevertheless a way to improve shoppers' online experience by making visualization personal and as close to real as possible.</p><p><blockquote>虽然Snap很快指出，这还不是一个成熟的解决方案，但它仍然是一种通过使可视化个性化并尽可能接近真实来改善购物者在线体验的方式。</blockquote></p><p> <i>Hence, the question investors have to answer is whether this is all already priced in or if there's still more upside potential?</i></p><p><blockquote><i>因此，投资者必须回答的问题是，这一切是否已经被定价，或者是否还有更多的上涨潜力？</i></blockquote></p><p> <b>SNAP Stock Valuation: Not Cheap</b></p><p><blockquote><b>SNAP股票估值：不便宜</b></blockquote></p><p></p><p> Snap is valued at approximately 29x forward sales. If we compare with Pinterest (PINS), which trades at approximately 19x forward sales, this reminds readers that a lot of excitement, optimism, expectation, and positive sentiment is evidently priced into Snap.</p><p><blockquote>Snap的估值约为远期销售额的29倍。如果我们与Pinterest(PINS)（其远期销售额约为19倍）进行比较，这提醒读者，Snap显然包含了很多兴奋、乐观、期望和积极情绪。</blockquote></p><p> On the other hand, shareholders may be quick to remark that even if Snap is richly valued, high quality and rapidly growing businesses rarely trade in the bargain basement -- particularly towards the end of a very long bull market.</p><p><blockquote>另一方面，股东可能很快就会注意到，即使Snap估值很高，高质量和快速增长的企业也很少以低价交易——尤其是在漫长的牛市即将结束时。</blockquote></p><p> Moreover, keep in mind that Snap is now signaling to investors that its multi-year investments are now paying fruit and this now marks the third quarter of adjusted EBITDA profitability over its trailing twelve months.</p><p><blockquote>此外，请记住，Snap现在向投资者发出信号，表明其多年投资正在取得成果，这标志着其过去12个月调整后EBITDA盈利能力的第三季度。</blockquote></p><p> Hence, if Snap's Q2 2021's 116% top line appears strong and caught many headlines, then Snap's adjusted EBITDA growth of more than 200% looks even better.</p><p><blockquote>因此，如果SNAP 2021年第二季度116%的营收显得强劲并成为许多头条新闻，那么Snap调整后EBITDA增长超过200%看起来就更好了。</blockquote></p><p> What's more, as we look out to its guidance next quarter, its bottom line EBITDA is expected to once again posttriple digits EBITDA growth y/y.</p><p><blockquote>更重要的是，当我们展望下一季度的指引时，其净利润EBITDA预计将再次实现三位数的EBITDA同比增长。</blockquote></p><p> <b>Premortem (Investment Risks)</b></p><p><blockquote><b>事前（投资风险）</b></blockquote></p><p> Arguably, the single bearish consideration is that Snap's valuation doesn't offer investors much room for error. Not only does it trade more expensively than other social platforms, but it's also clearly a richly valued stock.</p><p><blockquote>可以说，唯一看跌的考虑因素是Snap的估值没有给投资者提供太多犯错的空间。它不仅比其他社交平台的交易成本更高，而且显然也是一只估值很高的股票。</blockquote></p><p> To this end, we see that investors pricing a lot of optimism that Snap will continue to positively surprise investors. Consequently, any mishaps during any quarter, when a stock is so richly priced, leaves the stock primed for a meaningful sell-off.</p><p><blockquote>为此，我们看到投资者对Snap将继续给投资者带来积极惊喜的乐观情绪进行了定价。因此，当股票定价如此昂贵时，任何季度发生的任何事故都会使该股票面临大幅抛售。</blockquote></p><p> Next, the bulk of investor thesis is to a large extent contingent on Snap's DAUs continuing to steadily increase. What's more, Q2 2021 marked just a mid-single-digit increase in DAUs in North America.</p><p><blockquote>接下来，投资者的大部分论点在很大程度上取决于Snap的DAU持续稳步增长。此外，2021年第二季度北美的DAU仅实现了中个位数的增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cab82b3b3570378165d43957bf0e925c\" tg-width=\"640\" tg-height=\"65\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> If we look back to H1 2019 (pre-COVID), Snap's DAU growth was approximately compared with the same period in the prior year. This is an undeniable reminder that Snap's DAU growth had previously flattened and that it's entirely possible that it may flatten down once again. If that were to happen, investors would not regard Snap as a high growth name, and the number of investors that would be willing to pay for the stock would decrease.</p><p><blockquote>如果我们回顾2019年上半年（COVID之前），Snap的DAU增长与上年同期大致相当。这不可否认地提醒我们，Snap的DAU增长此前已经趋于平缓，而且完全有可能再次趋于平缓。如果发生这种情况，投资者就不会将Snap视为一个高增长的名字，愿意购买该股票的投资者数量也会减少。</blockquote></p><p> <b>The Bottom Line: Is SNAP A Good Buy?</b></p><p><blockquote><b>底线：SNAP值得购买吗？</b></blockquote></p><p> Even though Snap is not a cheap stock, Snap continues to demonstrate that its revenue growth rates remain incredibly strong.</p><p><blockquote>尽管Snap并不是一只便宜的股票，但Snap继续证明其收入增长率仍然非常强劲。</blockquote></p><p> While there's a lot to like in Snap's investment, I will sit out this opportunity as I prefer to invest in companies where the outlook is not as rosy, but the valuation is dramatically cheaper.</p><p><blockquote>虽然Snap的投资有很多值得喜欢的地方，但我会坐视这个机会，因为我更喜欢投资前景不那么乐观但估值却便宜得多的公司。</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>Snap Stock: One Of Fastest Growing Social Media Companies<blockquote>Snap股票：增长最快的社交媒体公司之一</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\">\nSnap Stock: One Of Fastest Growing Social Media Companies<blockquote>Snap股票：增长最快的社交媒体公司之一</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-07-27 19:28</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>Snap had a high bar to cross to impress investors. And not only did its Q2 results succeed but, looking out to its Q3 guidance, its prospects remain very attractive.</li>  <li>Snap's ARPU in North America was the highlight of its Q2 results.</li>  <li>Snap is not in the bargain basement. Hence, investors looking to buy at this stage will have to take a buy-and-hold investment strategy.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce123df394d362ecf57640f1621162e3\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Geber86/E+ via Getty Images</span></p><p><blockquote><ul><li>Snap需要跨越很高的门槛才能给投资者留下深刻印象。不仅第二季度业绩取得成功，而且从第三季度指引来看，其前景仍然非常有吸引力。</li><li>Snap在北美的ARPU是其第二季度业绩的亮点。</li><li>Snap不在廉价地下室。因此，现阶段寻求买入的投资者必须采取买入并持有的投资策略。</li></ul><p class=\"t-img-caption\"><span>Geber86/E+来自盖蒂图片社</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Snap (SNAP) reported yet another impressive result and Q3 2021 guidance. And as we dig into its results, there are no obvious blemishes in the report. Snap continues growing its top line revenues at very strong rates, while its bottom line EBITDA growth is even more impressive.</p><p><blockquote>SNAP（SNAP）报告了另一项令人印象深刻的业绩和2021年第三季度指引。当我们深入研究其结果时，报告中没有明显的瑕疵。Snap的营收继续以非常强劲的速度增长，而其利润EBITDA增长则更加令人印象深刻。</blockquote></p><p> At 29x forward sales, the stock is not cheap. And investors considering this investment opportunity will have to adopt a very&nbsp;<i>strong-willed buy-and-hold investment strategy</i>. Because at this valuation, the stock is already pricing in a lot of future growth.</p><p><blockquote>以29倍的远期销售额计算，该股并不便宜。而考虑这一投资机会的投资者将不得不采取非常<i>意志坚定的买入并持有投资策略</i>.因为按照这个估值，该股已经消化了未来的大量增长。</blockquote></p><p> <b>Revenue Growth Rates Are Incredibly Strong</b></p><p><blockquote><b>收入增长率非常强劲</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/72843b7d7a6cc562b484e25eac7cacbe\" tg-width=\"640\" tg-height=\"285\" referrerpolicy=\"no-referrer\"><span>Source: author's calculations; **high-end guidance</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：作者计算；**高端指导</span></p></blockquote></p><p> Q2 2021 was always going to look strong given just how weak the advertising industry found itself in the same period a year ago. Thus, Snap shareholders were clearly expecting a lot. But to see Snap come out with more than triple digits y/y revenue growth rates? That was particularly stunning.</p><p><blockquote>考虑到一年前同期广告业的疲软程度，2021年第二季度看起来总是很强劲。因此，Snap股东显然期望很高。但看到Snap的收入同比增长率超过三位数？这尤其令人震惊。</blockquote></p><p> Previously, I had noted that investors should look beyond&nbsp;Snap's maturing MAUs in North America, and look towards its International opportunity as its next wave of growth opportunities.</p><p><blockquote>此前，我曾指出，投资者应该超越Snap在北美成熟的月活跃用户数，将其国际机遇视为下一波增长机会。</blockquote></p><p> However, even though its overseas revenues were strong, the real driver of Snap's returns come from the pricing power of its North America users:</p><p><blockquote>然而，尽管海外收入强劲，但Snap回报的真正驱动力来自北美用户的定价能力：</blockquote></p><p> <img src=\"https://static.tigerbbs.com/95aca2444a479c7dc060c03d6bf0cec3\" tg-width=\"640\" tg-height=\"126\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> In the table above, I've stripped out all the other details for us to focus our discussions around Snap's Average Revenue Per User (\"ARPU\"). As you can see, pricing in North America was the real driver of revenues, with ARPU up 116% y/y. Why is this important?</p><p><blockquote>在上表中，我已经剔除了所有其他细节，以便我们将讨论的重点放在Snap的每用户平均收入（“ARPU”）上。正如您所看到的，北美的定价是收入的真正驱动力，ARPU同比增长116%。为什么这很重要？</blockquote></p><p> It's important because it shows that, even on the back of just 6% y/y growth in DAUs in North America, advertisers are eager to reach out and connect with Snap's young demographic and pay up for that opportunity.</p><p><blockquote>这很重要，因为它表明，即使北美DAU同比仅增长6%，广告商也渴望接触和联系Snap的年轻人群，并为这一机会付费。</blockquote></p><p> <b>Could Spectacles be the Next Wave of Growth for Snap?</b></p><p><blockquote><b>眼镜会成为Snap的下一波增长吗？</b></blockquote></p><p> For some time, Snap has been making investors aware that it's moving beyond just a social media platform and that it's now looking to take its Augmented Reality technology and deploy it into hardware.</p><p><blockquote>一段时间以来，Snap一直在让投资者意识到，它正在超越社交媒体平台，现在正在寻求将其增强现实技术部署到硬件中。</blockquote></p><p> At first, this was met with investor skepticism. After all, Snap was taking an asset-light and lucrative business and pivoting towards a hardware revenue business, with lower margins.</p><p><blockquote>起初，这遭到了投资者的质疑。毕竟，Snap正在采取轻资产且利润丰厚的业务，并转向利润率较低的硬件收入业务。</blockquote></p><p> Indeed, it didn't make much sense why Snap would make such a move. Particularly given that Snap had, without any hardware investment, grown very successfully and built the necessary technology to spring off other manufacturers' capital investment into a business with nearly $4.5 billion in run-rate revenues as of Q4 2021.</p><p><blockquote>事实上，Snap为什么会做出这样的举动并没有多大意义。特别是考虑到Snap在没有任何硬件投资的情况下发展非常成功，并建立了必要的技术，将其他制造商的资本投资转化为截至2021年第四季度运行收入近45亿美元的业务。</blockquote></p><p> Having said that, Snap asserts that by further developing its&nbsp;Spectacles business unit, users can not only create more immersive content, but they will have access to other uses as well.</p><p><blockquote>话虽如此，Snap声称，通过进一步发展其眼镜业务部门，用户不仅可以创建更身临其境的内容，还可以访问其他用途。</blockquote></p><p> For instance, by using Spectacles, users can use AR try-on technology to emulate a physical shopping experience and get clothing with the right fit and the right size, to reduce the need for online returns.</p><p><blockquote>例如，通过使用眼镜，用户可以使用AR试穿技术来模拟实体购物体验，并获得合适尺寸的衣服，以减少在线退货的需求。</blockquote></p><p> The underlying idea is to increase user engagement and build an increased digital inventory of the users' life journeys. Other uses could be to increase the personalization of an online shopping experience.</p><p><blockquote>潜在的想法是增加用户参与度，并建立用户生活旅程的数字清单。其他用途可以是增加在线购物体验的个性化。</blockquote></p><p> This is something that is likely to resonate strongly with Snap's young demographic and offers Snap an opportunity to differentiate itself against other players in this space.</p><p><blockquote>这可能会引起Snap年轻人的强烈共鸣，并为Snap提供了在该领域与其他参与者区分开来的机会。</blockquote></p><p> While Snap is quick to note that this is not yet a fully-fledged solution, it's nevertheless a way to improve shoppers' online experience by making visualization personal and as close to real as possible.</p><p><blockquote>虽然Snap很快指出，这还不是一个成熟的解决方案，但它仍然是一种通过使可视化个性化并尽可能接近真实来改善购物者在线体验的方式。</blockquote></p><p> <i>Hence, the question investors have to answer is whether this is all already priced in or if there's still more upside potential?</i></p><p><blockquote><i>因此，投资者必须回答的问题是，这一切是否已经被定价，或者是否还有更多的上涨潜力？</i></blockquote></p><p> <b>SNAP Stock Valuation: Not Cheap</b></p><p><blockquote><b>SNAP股票估值：不便宜</b></blockquote></p><p></p><p> Snap is valued at approximately 29x forward sales. If we compare with Pinterest (PINS), which trades at approximately 19x forward sales, this reminds readers that a lot of excitement, optimism, expectation, and positive sentiment is evidently priced into Snap.</p><p><blockquote>Snap的估值约为远期销售额的29倍。如果我们与Pinterest(PINS)（其远期销售额约为19倍）进行比较，这提醒读者，Snap显然包含了很多兴奋、乐观、期望和积极情绪。</blockquote></p><p> On the other hand, shareholders may be quick to remark that even if Snap is richly valued, high quality and rapidly growing businesses rarely trade in the bargain basement -- particularly towards the end of a very long bull market.</p><p><blockquote>另一方面，股东可能很快就会注意到，即使Snap估值很高，高质量和快速增长的企业也很少以低价交易——尤其是在漫长的牛市即将结束时。</blockquote></p><p> Moreover, keep in mind that Snap is now signaling to investors that its multi-year investments are now paying fruit and this now marks the third quarter of adjusted EBITDA profitability over its trailing twelve months.</p><p><blockquote>此外，请记住，Snap现在向投资者发出信号，表明其多年投资正在取得成果，这标志着其过去12个月调整后EBITDA盈利能力的第三季度。</blockquote></p><p> Hence, if Snap's Q2 2021's 116% top line appears strong and caught many headlines, then Snap's adjusted EBITDA growth of more than 200% looks even better.</p><p><blockquote>因此，如果SNAP 2021年第二季度116%的营收显得强劲并成为许多头条新闻，那么Snap调整后EBITDA增长超过200%看起来就更好了。</blockquote></p><p> What's more, as we look out to its guidance next quarter, its bottom line EBITDA is expected to once again posttriple digits EBITDA growth y/y.</p><p><blockquote>更重要的是，当我们展望下一季度的指引时，其净利润EBITDA预计将再次实现三位数的EBITDA同比增长。</blockquote></p><p> <b>Premortem (Investment Risks)</b></p><p><blockquote><b>事前（投资风险）</b></blockquote></p><p> Arguably, the single bearish consideration is that Snap's valuation doesn't offer investors much room for error. Not only does it trade more expensively than other social platforms, but it's also clearly a richly valued stock.</p><p><blockquote>可以说，唯一看跌的考虑因素是Snap的估值没有给投资者提供太多犯错的空间。它不仅比其他社交平台的交易成本更高，而且显然也是一只估值很高的股票。</blockquote></p><p> To this end, we see that investors pricing a lot of optimism that Snap will continue to positively surprise investors. Consequently, any mishaps during any quarter, when a stock is so richly priced, leaves the stock primed for a meaningful sell-off.</p><p><blockquote>为此，我们看到投资者对Snap将继续给投资者带来积极惊喜的乐观情绪进行了定价。因此，当股票定价如此昂贵时，任何季度发生的任何事故都会使该股票面临大幅抛售。</blockquote></p><p> Next, the bulk of investor thesis is to a large extent contingent on Snap's DAUs continuing to steadily increase. What's more, Q2 2021 marked just a mid-single-digit increase in DAUs in North America.</p><p><blockquote>接下来，投资者的大部分论点在很大程度上取决于Snap的DAU持续稳步增长。此外，2021年第二季度北美的DAU仅实现了中个位数的增长。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/cab82b3b3570378165d43957bf0e925c\" tg-width=\"640\" tg-height=\"65\" referrerpolicy=\"no-referrer\" width=\"100%\" height=\"auto\"></p><p><blockquote></blockquote></p><p> If we look back to H1 2019 (pre-COVID), Snap's DAU growth was approximately compared with the same period in the prior year. This is an undeniable reminder that Snap's DAU growth had previously flattened and that it's entirely possible that it may flatten down once again. If that were to happen, investors would not regard Snap as a high growth name, and the number of investors that would be willing to pay for the stock would decrease.</p><p><blockquote>如果我们回顾2019年上半年（COVID之前），Snap的DAU增长与上年同期大致相当。这不可否认地提醒我们，Snap的DAU增长此前已经趋于平缓，而且完全有可能再次趋于平缓。如果发生这种情况，投资者就不会将Snap视为一个高增长的名字，愿意购买该股票的投资者数量也会减少。</blockquote></p><p> <b>The Bottom Line: Is SNAP A Good Buy?</b></p><p><blockquote><b>底线：SNAP值得购买吗？</b></blockquote></p><p> Even though Snap is not a cheap stock, Snap continues to demonstrate that its revenue growth rates remain incredibly strong.</p><p><blockquote>尽管Snap并不是一只便宜的股票，但Snap继续证明其收入增长率仍然非常强劲。</blockquote></p><p> While there's a lot to like in Snap's investment, I will sit out this opportunity as I prefer to invest in companies where the outlook is not as rosy, but the valuation is dramatically cheaper.</p><p><blockquote>虽然Snap的投资有很多值得喜欢的地方，但我会坐视这个机会，因为我更喜欢投资前景不那么乐观但估值却便宜得多的公司。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4441412-snap-one-of-fastest-growing-social-media-companies\">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":{"SNAP":"Snap Inc"},"source_url":"https://seekingalpha.com/article/4441412-snap-one-of-fastest-growing-social-media-companies","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118738178","content_text":"Summary\n\nSnap had a high bar to cross to impress investors. And not only did its Q2 results succeed but, looking out to its Q3 guidance, its prospects remain very attractive.\nSnap's ARPU in North America was the highlight of its Q2 results.\nSnap is not in the bargain basement. Hence, investors looking to buy at this stage will have to take a buy-and-hold investment strategy.\n\nGeber86/E+ via Getty Images\nInvestment Thesis\nSnap (SNAP) reported yet another impressive result and Q3 2021 guidance. And as we dig into its results, there are no obvious blemishes in the report. Snap continues growing its top line revenues at very strong rates, while its bottom line EBITDA growth is even more impressive.\nAt 29x forward sales, the stock is not cheap. And investors considering this investment opportunity will have to adopt a very strong-willed buy-and-hold investment strategy. Because at this valuation, the stock is already pricing in a lot of future growth.\nRevenue Growth Rates Are Incredibly Strong\nSource: author's calculations; **high-end guidance\nQ2 2021 was always going to look strong given just how weak the advertising industry found itself in the same period a year ago. Thus, Snap shareholders were clearly expecting a lot. But to see Snap come out with more than triple digits y/y revenue growth rates? That was particularly stunning.\nPreviously, I had noted that investors should look beyond Snap's maturing MAUs in North America, and look towards its International opportunity as its next wave of growth opportunities.\nHowever, even though its overseas revenues were strong, the real driver of Snap's returns come from the pricing power of its North America users:\n\nIn the table above, I've stripped out all the other details for us to focus our discussions around Snap's Average Revenue Per User (\"ARPU\"). As you can see, pricing in North America was the real driver of revenues, with ARPU up 116% y/y. Why is this important?\nIt's important because it shows that, even on the back of just 6% y/y growth in DAUs in North America, advertisers are eager to reach out and connect with Snap's young demographic and pay up for that opportunity.\nCould Spectacles be the Next Wave of Growth for Snap?\nFor some time, Snap has been making investors aware that it's moving beyond just a social media platform and that it's now looking to take its Augmented Reality technology and deploy it into hardware.\nAt first, this was met with investor skepticism. After all, Snap was taking an asset-light and lucrative business and pivoting towards a hardware revenue business, with lower margins.\nIndeed, it didn't make much sense why Snap would make such a move. Particularly given that Snap had, without any hardware investment, grown very successfully and built the necessary technology to spring off other manufacturers' capital investment into a business with nearly $4.5 billion in run-rate revenues as of Q4 2021.\nHaving said that, Snap asserts that by further developing its Spectacles business unit, users can not only create more immersive content, but they will have access to other uses as well.\nFor instance, by using Spectacles, users can use AR try-on technology to emulate a physical shopping experience and get clothing with the right fit and the right size, to reduce the need for online returns.\nThe underlying idea is to increase user engagement and build an increased digital inventory of the users' life journeys. Other uses could be to increase the personalization of an online shopping experience.\nThis is something that is likely to resonate strongly with Snap's young demographic and offers Snap an opportunity to differentiate itself against other players in this space.\nWhile Snap is quick to note that this is not yet a fully-fledged solution, it's nevertheless a way to improve shoppers' online experience by making visualization personal and as close to real as possible.\nHence, the question investors have to answer is whether this is all already priced in or if there's still more upside potential?\nSNAP Stock Valuation: Not Cheap\nSnap is valued at approximately 29x forward sales. If we compare with Pinterest (PINS), which trades at approximately 19x forward sales, this reminds readers that a lot of excitement, optimism, expectation, and positive sentiment is evidently priced into Snap.\nOn the other hand, shareholders may be quick to remark that even if Snap is richly valued, high quality and rapidly growing businesses rarely trade in the bargain basement -- particularly towards the end of a very long bull market.\nMoreover, keep in mind that Snap is now signaling to investors that its multi-year investments are now paying fruit and this now marks the third quarter of adjusted EBITDA profitability over its trailing twelve months.\nHence, if Snap's Q2 2021's 116% top line appears strong and caught many headlines, then Snap's adjusted EBITDA growth of more than 200% looks even better.\nWhat's more, as we look out to its guidance next quarter, its bottom line EBITDA is expected to once again posttriple digits EBITDA growth y/y.\nPremortem (Investment Risks)\nArguably, the single bearish consideration is that Snap's valuation doesn't offer investors much room for error. Not only does it trade more expensively than other social platforms, but it's also clearly a richly valued stock.\nTo this end, we see that investors pricing a lot of optimism that Snap will continue to positively surprise investors. Consequently, any mishaps during any quarter, when a stock is so richly priced, leaves the stock primed for a meaningful sell-off.\nNext, the bulk of investor thesis is to a large extent contingent on Snap's DAUs continuing to steadily increase. What's more, Q2 2021 marked just a mid-single-digit increase in DAUs in North America.\n\nIf we look back to H1 2019 (pre-COVID), Snap's DAU growth was approximately compared with the same period in the prior year. This is an undeniable reminder that Snap's DAU growth had previously flattened and that it's entirely possible that it may flatten down once again. If that were to happen, investors would not regard Snap as a high growth name, and the number of investors that would be willing to pay for the stock would decrease.\nThe Bottom Line: Is SNAP A Good Buy?\nEven though Snap is not a cheap stock, Snap continues to demonstrate that its revenue growth rates remain incredibly strong.\nWhile there's a lot to like in Snap's investment, I will sit out this opportunity as I prefer to invest in companies where the outlook is not as rosy, but the valuation is dramatically cheaper.","news_type":1,"symbols_score_info":{"SNAP":0.9}},"isVote":1,"tweetType":1,"viewCount":1788,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":175176127,"gmtCreate":1627017477669,"gmtModify":1633768725704,"author":{"id":"3585797482260363","authorId":"3585797482260363","name":"QqSM","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3585797482260363","idStr":"3585797482260363"},"themes":[],"htmlText":"Good review. Please like. Thanks much","listText":"Good review. Please like. Thanks much","text":"Good review. Please like. Thanks much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175176127","repostId":"2153160453","repostType":4,"isVote":1,"tweetType":1,"viewCount":1423,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}