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Blockchain stocks dipped in premarket trading

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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/167651884","repostId":"1149553617","repostType":4,"repost":{"id":"1149553617","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624263578,"share":"https://www.laohu8.com/m/news/1149553617?lang=&edition=full","pubTime":"2021-06-21 16:19","market":"us","language":"en","title":"Blockchain stocks dipped in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1149553617","media":"Tiger Newspress","summary":"(June 21) Bitcoin (BTC-USD) started the week in bear mode, Last Wednesday, the Fed's surprise hawkis","content":"<p>(June 21)&nbsp;Bitcoin (BTC-USD) started the week in bear mode,&nbsp;Last Wednesday,&nbsp;the Fed's surprise hawkish turn . St. Louis Fed boss Jim Bullard this morning added to things &nbsp;Last Friday morning,&nbsp;saying he believes the first rate hike will come late in 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/d123707a69b0e6ba950ac413cd757015\" tg-width=\"1075\" tg-height=\"786\" referrerpolicy=\"no-referrer\"></p>\n<p>While that's still a long way off, Fed thinking has clearly gone from continuing to pump the recovery, to caution about overheating. It's hitting risk assets of all sorts, including bitcoin, now&nbsp;down about 6.5%&nbsp;on the session, and barely above $33K.</p>\n<p>Blockchain-related players: Microstrategy (MSTR-5.95%), Riot Blockchain (RIOT-5.53%), Marathon Patent (MARA-5.29%), Canaan (CAN-4.30%)</p>\n<p><img src=\"https://static.tigerbbs.com/507c43db5da2929250ca3af23986a198\" tg-width=\"308\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p>\n<p>Getting away from price action, adoption continues to grow, with Goldman Sachs this morning hooking up with alumnus Mike Novogratz's Galaxy Digitalto ramp up bitcoin trading offerings for its roster of institutional clients.</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>Blockchain stocks dipped in premarket trading</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nBlockchain stocks dipped in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-21 16:19</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 21)&nbsp;Bitcoin (BTC-USD) started the week in bear mode,&nbsp;Last Wednesday,&nbsp;the Fed's surprise hawkish turn . St. Louis Fed boss Jim Bullard this morning added to things &nbsp;Last Friday morning,&nbsp;saying he believes the first rate hike will come late in 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/d123707a69b0e6ba950ac413cd757015\" tg-width=\"1075\" tg-height=\"786\" referrerpolicy=\"no-referrer\"></p>\n<p>While that's still a long way off, Fed thinking has clearly gone from continuing to pump the recovery, to caution about overheating. It's hitting risk assets of all sorts, including bitcoin, now&nbsp;down about 6.5%&nbsp;on the session, and barely above $33K.</p>\n<p>Blockchain-related players: Microstrategy (MSTR-5.95%), Riot Blockchain (RIOT-5.53%), Marathon Patent (MARA-5.29%), Canaan (CAN-4.30%)</p>\n<p><img src=\"https://static.tigerbbs.com/507c43db5da2929250ca3af23986a198\" tg-width=\"308\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p>\n<p>Getting away from price action, adoption continues to grow, with Goldman Sachs this morning hooking up with alumnus Mike Novogratz's Galaxy Digitalto ramp up bitcoin trading offerings for its roster of institutional clients.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAN":"嘉楠科技","RIOT":"Riot Platforms","EBON":"亿邦国际","BTBT":"Bit Digital, Inc.","MSTR":"Strategy","NCTY":"第九城市","MARA":"MARA Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149553617","content_text":"(June 21) Bitcoin (BTC-USD) started the week in bear mode, Last Wednesday, the Fed's surprise hawkish turn . St. Louis Fed boss Jim Bullard this morning added to things  Last Friday morning, saying he believes the first rate hike will come late in 2022.\n\nWhile that's still a long way off, Fed thinking has clearly gone from continuing to pump the recovery, to caution about overheating. It's hitting risk assets of all sorts, including bitcoin, now down about 6.5% on the session, and barely above $33K.\nBlockchain-related players: Microstrategy (MSTR-5.95%), Riot Blockchain (RIOT-5.53%), Marathon Patent (MARA-5.29%), Canaan (CAN-4.30%)\n\nGetting away from price action, adoption continues to grow, with Goldman Sachs this morning hooking up with alumnus Mike Novogratz's Galaxy Digitalto ramp up bitcoin trading offerings for its roster of institutional clients.","news_type":1,"symbols_score_info":{"BTBT":0.9,"CAN":0.9,"EBON":0.9,"MARA":0.9,"MSTR":0.9,"NCTY":0.9,"RIOT":0.9}},"isVote":1,"tweetType":1,"viewCount":1610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167653480,"gmtCreate":1624266870040,"gmtModify":1634008679035,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167653480","repostId":"2145086044","repostType":4,"repost":{"id":"2145086044","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1624263746,"share":"https://www.laohu8.com/m/news/2145086044?lang=&edition=full","pubTime":"2021-06-21 16:22","market":"hk","language":"en","title":"5 Stocks To Watch For June 21, 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2145086044","media":"Benzinga","summary":"Some of the stocks that may grab investor focus today are:","content":"<p>Some of the stocks that may grab investor focus today are:</p>\n<ul>\n <li><b>Amazon.com, Inc. </b> (NASDAQ:AMZN) will remain in focus with the company’s two-day Prime shopping event beginning today. Amazon Prime Day was first observed on July 15, 2015, in celebration of the company’s 20th anniversary. Amazon shares slipped 0.1% to settle at $3,486.90 on Friday.</li>\n <li><b>Pfizer Inc </b>(NYSE:PFE) COVID-19 vaccine received provisional approval for use in the age group 12 to 15 from New Zealand's medical regulator, Stuff reported. Pfizer shares fell 0.3% to close at $38.70 on Friday.</li>\n <li><b>Orphazyme A S ADR </b>(NASDAQ:ORPH) shares dipped around 50% on Friday after the company announced it received a Complete Response Letter from the FDA for its treatment for Niemann-Pick Disease Type C and also cut its FY2021 outlook. Orphazyme shares tumbled 49.7% to close at $7.33 on Friday.</li>\n <li><b>Globus Maritime Ltd </b>(NASDAQ:GLBS) reported total comprehensive loss of $0.8 million for the first quarter, compared to $9 million loss in the year-ago period. Its voyage revenues surged to $5.2 million from $2.3 million. Globus Maritime shares gained 0.8% to close at $5.06 on Friday.</li>\n <li><b>Beigene Ltd </b>(NASDAQ:BGNE) disclosed that BRUKINSA received an approval from the China National Medical Products Administration for the treatment of adult patients with relapsed or refractory Waldenström’s macroglobulinemia. Beigene shares dropped 2.2% to settle at $321.81 on Friday.</li>\n</ul>","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>5 Stocks To Watch For June 21, 2021</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n5 Stocks To Watch For June 21, 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-06-21 16:22</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p>\n<ul>\n <li><b>Amazon.com, Inc. </b> (NASDAQ:AMZN) will remain in focus with the company’s two-day Prime shopping event beginning today. Amazon Prime Day was first observed on July 15, 2015, in celebration of the company’s 20th anniversary. Amazon shares slipped 0.1% to settle at $3,486.90 on Friday.</li>\n <li><b>Pfizer Inc </b>(NYSE:PFE) COVID-19 vaccine received provisional approval for use in the age group 12 to 15 from New Zealand's medical regulator, Stuff reported. Pfizer shares fell 0.3% to close at $38.70 on Friday.</li>\n <li><b>Orphazyme A S ADR </b>(NASDAQ:ORPH) shares dipped around 50% on Friday after the company announced it received a Complete Response Letter from the FDA for its treatment for Niemann-Pick Disease Type C and also cut its FY2021 outlook. Orphazyme shares tumbled 49.7% to close at $7.33 on Friday.</li>\n <li><b>Globus Maritime Ltd </b>(NASDAQ:GLBS) reported total comprehensive loss of $0.8 million for the first quarter, compared to $9 million loss in the year-ago period. Its voyage revenues surged to $5.2 million from $2.3 million. Globus Maritime shares gained 0.8% to close at $5.06 on Friday.</li>\n <li><b>Beigene Ltd </b>(NASDAQ:BGNE) disclosed that BRUKINSA received an approval from the China National Medical Products Administration for the treatment of adult patients with relapsed or refractory Waldenström’s macroglobulinemia. Beigene shares dropped 2.2% to settle at $321.81 on Friday.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03086":"华夏纳指","QNETCN":"纳斯达克中美互联网老虎指数","AMZN":"亚马逊","GLBS":"Globus Maritime Limited","PFE":"辉瑞","09086":"华夏纳指-U"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145086044","content_text":"Some of the stocks that may grab investor focus today are:\n\nAmazon.com, Inc.  (NASDAQ:AMZN) will remain in focus with the company’s two-day Prime shopping event beginning today. Amazon Prime Day was first observed on July 15, 2015, in celebration of the company’s 20th anniversary. Amazon shares slipped 0.1% to settle at $3,486.90 on Friday.\nPfizer Inc (NYSE:PFE) COVID-19 vaccine received provisional approval for use in the age group 12 to 15 from New Zealand's medical regulator, Stuff reported. Pfizer shares fell 0.3% to close at $38.70 on Friday.\nOrphazyme A S ADR (NASDAQ:ORPH) shares dipped around 50% on Friday after the company announced it received a Complete Response Letter from the FDA for its treatment for Niemann-Pick Disease Type C and also cut its FY2021 outlook. Orphazyme shares tumbled 49.7% to close at $7.33 on Friday.\nGlobus Maritime Ltd (NASDAQ:GLBS) reported total comprehensive loss of $0.8 million for the first quarter, compared to $9 million loss in the year-ago period. Its voyage revenues surged to $5.2 million from $2.3 million. Globus Maritime shares gained 0.8% to close at $5.06 on Friday.\nBeigene Ltd (NASDAQ:BGNE) disclosed that BRUKINSA received an approval from the China National Medical Products Administration for the treatment of adult patients with relapsed or refractory Waldenström’s macroglobulinemia. Beigene shares dropped 2.2% to settle at $321.81 on Friday.","news_type":1,"symbols_score_info":{"03086":0.9,"09086":0.9,"AMZN":0.9,"BGNE":0.9,"GLBS":0.9,"ORPH":0.9,"PFE":0.9,"QNETCN":0.9}},"isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167653871,"gmtCreate":1624266853793,"gmtModify":1634008679281,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167653871","repostId":"1158262499","repostType":4,"isVote":1,"tweetType":1,"viewCount":1467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167653005,"gmtCreate":1624266839407,"gmtModify":1634008679526,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/167653005","repostId":"1105691189","repostType":4,"repost":{"id":"1105691189","kind":"news","pubTimestamp":1624266134,"share":"https://www.laohu8.com/m/news/1105691189?lang=&edition=full","pubTime":"2021-06-21 17:02","market":"us","language":"en","title":"How Steve Cohen Traded The Bursting Of The Dot Com Bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=1105691189","media":"zerohedge","summary":"This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief ane","content":"<p>This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief anecdote from my time at SAC Capital back in 2000:</p>\n<p><b>Just after the peak of the dot com bubble in March, it was not immediately clear which way the US equity market was headed.</b></p>\n<p>Many thought the momentum would return soon enough. Others were more cautious, but most bears had been wrong for years. It was therefore hard to take them seriously.</p>\n<p><b>Going into a Fed meeting day in mid-2000, Steve had set up his portfolio very short S&amp;P futures.</b></p>\n<p>Because every trader in the room was allowed to see his pad, we all followed suit. Everyone was max-out short, confident in Steve’s market call even though it wasn’t exactly clear what he saw.</p>\n<p><b>Stocks opened up that morning, and then headed higher still.</b></p>\n<p>The room was dead quiet, as every trading desk will be when experiencing sharp, sudden losses.</p>\n<p><b>Then Steve did something I had never seen him do before: he left the desk and went downstairs to have lunch with his family.</b>At the time, SAC shared space with GE Capital in a Stamford, CT office building. When I went down to the cafeteria to get lunch a little while later, I saw Steve chatting with his kids and wife while munching on some fish sticks. He didn’t really seem to have a care in the world.</p>\n<p><b>At 2:00pm, with Steve back on the desk, we all waited for the Fed decision.</b>It was another rate hike. But instead of selling off, the S&amp;P just kept going up. The only sound in the room was Steve’s assistant calling out S&amp;P levels, each one higher than the last, her voice growing more urgent with each number. Had Steve misread the tape?</p>\n<p><b>After about 15 minutes, though, the S&amp;P leveled out and started to drop.</b></p>\n<p>First by just a little, but then it went into free fall. The whole firm’s P&amp;L swung from dangerously in the red to deeply profitable.</p>\n<p><b>At 4pm, with all his shorts covered, Steve stood up and addressed the room: “And that’s how you do it … I’m going home now”.</b>We gave him a standing ovation.</p>\n<p><img src=\"https://static.tigerbbs.com/5dc81a4bd27d4c16642589177ca9ad3e\" tg-width=\"500\" tg-height=\"289\">I’ve thought a lot about that day in the last 20 years, and not just because it so neatly encapsulates the experience of equity day trading in its late 1990s – early 2000s heyday.</p>\n<p><b>It taught me that:</b></p>\n<p><u><b>#1) Conviction matters.</b></u></p>\n<p>We used to have a debate on the desk at SAC: was Steve so good because he was already worth a billion dollars and could afford to take risk, or did his net worth come from his ability to only scale and stick with bets where he had the highest conviction? Days like the one I just described always made us realize it was the latter.</p>\n<p>There is more to that point, though. Many years later, I met a data team that had done a deep diagnostic analysis of hundreds of hedge funds. They looked primarily at what separated top decile performing funds from the rest of the pack.</p>\n<p>They found that much of the slippage in underperforming funds came from a myriad of small portfolio positions that collectively ate away at returns. Some were losers, yes, but many were winners that weren’t sized large enough to make a real difference in the portfolio. Top performing funds owned winners in size; lesser funds were involved as well, but only in a small way.</p>\n<p>No prizes for guessing why that happened: conviction.<b>Mediocre funds had enough of an investment process to unearth good ideas, but not enough to size them correctly</b>. They weren’t willing to make a larger bet because they knew they would not be able to patiently sit out any volatility that might arise if it were 5 percent of the portfolio rather than 0.5 percent.</p>\n<p>Takeaway: conviction and sizing are what separated Steve, and every other great investor I’ve ever met, from the merely “very good”. It’s not enough to find ideas that work. The real magic is in making them count.</p>\n<p><u><b>#2: Use whatever mental hacks you need to foster patience</b></u><u>.</u></p>\n<p>Steve’s was getting off the desk for an hour. Other highly successful investors I’ve met over the years literally turned off their screens or took a symbol off their monitors.</p>\n<p>This is not to say one can just blindly buy an asset and hold it whatever comes. Productive patience means following many rules. A few of my personal favorites:</p>\n<ul>\n <li><p>Don’t buy new lows.</p></li>\n <li><p>Don’t short new highs.</p></li>\n <li><p>Always scale in and out of positions.</p></li>\n <li><p>Set stop losses where you re-evaluate your point of view.</p></li>\n <li><p>Always look for new ideas.</p></li>\n <li><p>Admit when you’re wrong and move on.</p></li>\n</ul>\n<p><b>Takeaway: the story about Steve on Fed Day is not meant to celebrate blind patience, but rather to show how patience fits in the context of a broader, disciplined approach.</b>If Steve had been wrong on that day, he would have still stuck to his process the next day and the day after that. No one has a 100 percent hit rate in this business.</p>\n<p>Final thought: the ability to be patient is, in the end, always a function of conviction and environment. Since we have little control over environment, especially with capital markets, the only effective way to cultivate patience is to build and follow a process that increases conviction in the context of prevailing circumstances.</p>\n<p>Ironically, low volatility markets such as what we have now demand more patience and conviction than when prices are choppier. Even a 1 percent position in a spicy name can meaningfully help portfolio returns when the VIX is at 40. But when the VIX is below 20 (today’s close was 18), it’s an entirely different game. The current environment demands a focused investment approach, not a scattershot one.</p>\n<p>Yes, this is hard, but as Steve said, “That’s how you do it”.</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>How Steve Cohen Traded The Bursting Of The Dot Com Bubble</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nHow Steve Cohen Traded The Bursting Of The Dot Com Bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 17:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/how-steve-cohen-traded-bursting-dot-com-bubble?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief anecdote from my time at SAC Capital back in 2000:\nJust after the peak of the dot com bubble in March, ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/how-steve-cohen-traded-bursting-dot-com-bubble?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/how-steve-cohen-traded-bursting-dot-com-bubble?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105691189","content_text":"This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief anecdote from my time at SAC Capital back in 2000:\nJust after the peak of the dot com bubble in March, it was not immediately clear which way the US equity market was headed.\nMany thought the momentum would return soon enough. Others were more cautious, but most bears had been wrong for years. It was therefore hard to take them seriously.\nGoing into a Fed meeting day in mid-2000, Steve had set up his portfolio very short S&P futures.\nBecause every trader in the room was allowed to see his pad, we all followed suit. Everyone was max-out short, confident in Steve’s market call even though it wasn’t exactly clear what he saw.\nStocks opened up that morning, and then headed higher still.\nThe room was dead quiet, as every trading desk will be when experiencing sharp, sudden losses.\nThen Steve did something I had never seen him do before: he left the desk and went downstairs to have lunch with his family.At the time, SAC shared space with GE Capital in a Stamford, CT office building. When I went down to the cafeteria to get lunch a little while later, I saw Steve chatting with his kids and wife while munching on some fish sticks. He didn’t really seem to have a care in the world.\nAt 2:00pm, with Steve back on the desk, we all waited for the Fed decision.It was another rate hike. But instead of selling off, the S&P just kept going up. The only sound in the room was Steve’s assistant calling out S&P levels, each one higher than the last, her voice growing more urgent with each number. Had Steve misread the tape?\nAfter about 15 minutes, though, the S&P leveled out and started to drop.\nFirst by just a little, but then it went into free fall. The whole firm’s P&L swung from dangerously in the red to deeply profitable.\nAt 4pm, with all his shorts covered, Steve stood up and addressed the room: “And that’s how you do it … I’m going home now”.We gave him a standing ovation.\nI’ve thought a lot about that day in the last 20 years, and not just because it so neatly encapsulates the experience of equity day trading in its late 1990s – early 2000s heyday.\nIt taught me that:\n#1) Conviction matters.\nWe used to have a debate on the desk at SAC: was Steve so good because he was already worth a billion dollars and could afford to take risk, or did his net worth come from his ability to only scale and stick with bets where he had the highest conviction? Days like the one I just described always made us realize it was the latter.\nThere is more to that point, though. Many years later, I met a data team that had done a deep diagnostic analysis of hundreds of hedge funds. They looked primarily at what separated top decile performing funds from the rest of the pack.\nThey found that much of the slippage in underperforming funds came from a myriad of small portfolio positions that collectively ate away at returns. Some were losers, yes, but many were winners that weren’t sized large enough to make a real difference in the portfolio. Top performing funds owned winners in size; lesser funds were involved as well, but only in a small way.\nNo prizes for guessing why that happened: conviction.Mediocre funds had enough of an investment process to unearth good ideas, but not enough to size them correctly. They weren’t willing to make a larger bet because they knew they would not be able to patiently sit out any volatility that might arise if it were 5 percent of the portfolio rather than 0.5 percent.\nTakeaway: conviction and sizing are what separated Steve, and every other great investor I’ve ever met, from the merely “very good”. It’s not enough to find ideas that work. The real magic is in making them count.\n#2: Use whatever mental hacks you need to foster patience.\nSteve’s was getting off the desk for an hour. Other highly successful investors I’ve met over the years literally turned off their screens or took a symbol off their monitors.\nThis is not to say one can just blindly buy an asset and hold it whatever comes. Productive patience means following many rules. A few of my personal favorites:\n\nDon’t buy new lows.\nDon’t short new highs.\nAlways scale in and out of positions.\nSet stop losses where you re-evaluate your point of view.\nAlways look for new ideas.\nAdmit when you’re wrong and move on.\n\nTakeaway: the story about Steve on Fed Day is not meant to celebrate blind patience, but rather to show how patience fits in the context of a broader, disciplined approach.If Steve had been wrong on that day, he would have still stuck to his process the next day and the day after that. No one has a 100 percent hit rate in this business.\nFinal thought: the ability to be patient is, in the end, always a function of conviction and environment. Since we have little control over environment, especially with capital markets, the only effective way to cultivate patience is to build and follow a process that increases conviction in the context of prevailing circumstances.\nIronically, low volatility markets such as what we have now demand more patience and conviction than when prices are choppier. Even a 1 percent position in a spicy name can meaningfully help portfolio returns when the VIX is at 40. But when the VIX is below 20 (today’s close was 18), it’s an entirely different game. The current environment demands a focused investment approach, not a scattershot one.\nYes, this is hard, but as Steve said, “That’s how you do it”.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":794,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167659516,"gmtCreate":1624266821735,"gmtModify":1634008679872,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167659516","repostId":"1107200738","repostType":4,"repost":{"id":"1107200738","kind":"news","pubTimestamp":1624266640,"share":"https://www.laohu8.com/m/news/1107200738?lang=&edition=full","pubTime":"2021-06-21 17:10","market":"us","language":"en","title":"Twilio: Investors Need To Give It Time To Scale Up And Be Profitable","url":"https://stock-news.laohu8.com/highlight/detail?id=1107200738","media":"seekingalpha","summary":"Summary\n\nTwilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and","content":"<p><b>Summary</b></p>\n<ul>\n <li>Twilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and it would fizzle out when reopening takes centre stage.</li>\n <li>Meanwhile, the company has continued to build on its strength through numerous key acquisitions, among which the Segment deal stood out as the most important.</li>\n <li>As a result of third-party cookies deprecation, companies would likely need Twilio even more moving forward.</li>\n <li>At its current valuations and its high DBNER of 133%, investors should take advantage of the recent price weakness to gain access to Twilio now.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/615c999acf1acd79840514a42f3c4521\" tg-width=\"768\" tg-height=\"512\"><span>Drew Angerer/Getty Images</span></p>\n<p><b>NewsInvestment Thesis</b></p>\n<p>Many investors have misunderstood Twilio’s (TWLO) business model due to its unprofitability even as it delivered industry leading revenue growth metrics. While it may have yet to be EBIT profitable, the company is setting itself up to be the CPaaS leader with a top notch customer engagement platform, following its acquisition of the No.1 Customer Data Platform [CDP] in the world: Segment. Investors should understand by now that the secular tailwinds driving digitisation are not going to reverse, and therefore TWLO is in a prime position to benefit as the platform for the world on their customer engagement needs. Add on the impending deprecation of third-party cookies, companies would likely find TWLO even more important in their customer engagement efforts moving forward. At its current valuation, investors should find that TWLO may actually be valued at a discount to many of the stocks listed in the SaaS space.</p>\n<p><b>Twilio is Not your Typical SaaS Stock</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aec3449de8bbaa50dabd8b4343c41583\" tg-width=\"600\" tg-height=\"371\"><span>DBNER. Data source: Company filings</span></p>\n<p>Twilio’s value proposition as a CPaaS is unlike the typical SaaS company that makes the most of its revenue through recurring subscriptions, and increase or maintain their DBNER or DBNRR by cross-selling into other products or up-selling their customers by taking on more seats. TWLO’s revenue is mainly based on usage. Therefore the company makes more revenue when customers use its platform more, and make less when customers use it less. Therefore, because it’s based on usage we could easily determine the strength of its customers' usage simply by observing its DBNER trend.TWLO’s DBNER&nbsp;“increases when such Active Customer Accounts increase their usage of a product, extend their usage of a product to new applications or adopt a new product. Twilio’s Dollar-Based Net Expansion Rate decreases when such Active Customer Accounts cease or reduce their usage of a product or when the Company lowers usage prices on a product.”</p>\n<p>Therefore, we could clearly observe from TWLO’s strong DBNER trend that its customers have been consistently increasing their net usage of its platform over the years, which actually already begun before COVID-19 hit. TWLO’s DBNER has been largely consistent as well and the company was also confident of achieving a&nbsp;normalized DBNER in the range of 130s&nbsp;moving forward.</p>\n<p>Moreover, the company has also highlighted that it continued to see increased use cases in its platform in many industries, and in particular in telehealth, which is another market that has been wrongly perceived to be only a COVID-19 phenomenon that has no sustainability. We have previously covered in a&nbsp;recent article on Teladoc&nbsp;(TDOC) on why telehealth’s rapid growth has begun well before the pandemic hit and is still very early in its growth phase as the market is expected to grow by more than 20% CAGR over the next 10 years. Therefore the secular tailwinds that are driving digitisation across many different industries would also drive increased business to TWLO as the market’s leading cloud communications and customer engagement platform.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/32ecc737bf53e45f2b6a58e0d2121279\" tg-width=\"1280\" tg-height=\"384\"><span>SaaS DBNER/DBNRR. Source: Atom Finance</span></p>\n<p>This is especially so when we look across the SaaS space. Investors would be hard-pressed to find many companies that boast a NRR that has been consistently above 130% like TWLO (median: 120%). Another company that also uses&nbsp;usage-based pricing: Snowflake&nbsp;(SNOW) had a NRR of 168% in the latest quarter. Investors may think that these companies that adopt usage-based pricing may suffer if their customers drop off their usage rates drastically. However, TWLO and SNOW have both proven that their platforms are so sticky and offer so much value that once you are on it, you would keep using it more and more over time, and also expand usage into new products. Therefore, this usage-based pricing model has an inherently powerful booster to the company’s topline as use-cases kept increasing, something that a typical subscription-based ARR model may not be able to replicate without a usage-based model.</p>\n<p><b>Market Truly Underestimated Segment's Acquisition</b></p>\n<p>In our opinion, we think the market really underplayed Segment’s acquisition for TWLO. First, Segment is the&nbsp;No.1 CDP worldwide&nbsp;ranked by IDC, so we think TWLO has done an amazing deal there. In fact, the company emphasized how important they thought the acquisition meant to them (emphasis by us):</p>\n<blockquote>\n We think the&nbsp;\n <b>industrial logic of Segment plus Twilio is just a -- it's not just a home run.It's a grand slam</b>. I think for us, having data capabilities married with communications capabilities is absolutely essential to deliver that rich customer experience.\n</blockquote>\n<p>Notwithstanding the&nbsp;significant dilution&nbsp;funded from the mostly equity deal, I think investors should understand the strategic importance of having the best-of-breed CDP in its portfolio, which is crucially important to TWLO’s underlying CPaaS offering as it now confers its customers the access to real-time analytics with a unified view across disparate systems.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7bfb70f9acdfe008ff26825a2894a4c7\" tg-width=\"879\" tg-height=\"544\"><span>Level of impact of CDP on success metrics. Data source: Advertiser Perceptions; Treasure Data</span></p>\n<p>We could observe from the above survey conducted with marketers across different industries on the profound impact of having a CDP in their marketing KPIs. The large majority of the respondents noted an improvement across all the metrics listed in this survey with a remarkably high percentage of the respondents (33% to 45%) indicating “significant improvement” in the respective categories.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b908f65bb3623fd3ba2b147e803f8e7\" tg-width=\"841\" tg-height=\"520\"><span>Benefits of CDP according to marketing technology decision makers. Data source: Advertiser Perceptions; UniFida</span></p>\n<p>In addition, 49% of the respondents also indicated that the CDP allowed them to unify data across multiple sources, which they regarded as the most important benefit. Twilio also highlighted the importance of this as it added that “consumers are no longer tied to just one form of communication, and they expect companies to pull together disparate interactions to deliver increasingly personalized content based on what they’re doing -- anytime, anywhere, and over their preferred channels.”</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ebc20b41946569e8afa10fb1ef39a90f\" tg-width=\"1262\" tg-height=\"768\"><span>Measures undertaken by marketers from the U.S. to counter the impact of the deprecation of third-party cookies. Data source: Epsilon; Adweek; Phronesis Partners</span></p>\n<p>Moreover, with the impending deprecation of third-party cookies, marketers have been looking for ways to cushion the impact of this loss, and the majority of them (67.3%) have been building a CDP. CDPs primarily collects and use&nbsp;first-party data, which is really the most important sources of customer data as it offers the most accurate and actionable insights, and also the one that is&nbsp;least vulnerable to privacy regulations, a point that was also acknowledged by TWLO when asked whether TWLO saw any tailwind on privacy regulations due to its first-party data access, of which the company replied:</p>\n<blockquote>\n 100%. I think you hit the nail on that actually and effectively answered your own question. I think they're very much on the right side of this. I mean they are very, very strong data stewards. They're kind of a privacy-first company. I think even in the EU, some of the trends in geodynamics also play in their favor. And so I do think data and data regulations is a potential tailwind for them, yes.\n</blockquote>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34f2d9eb714512b81b6ae70b957a82d4\" tg-width=\"600\" tg-height=\"371\"><span>Share of organizations collaborating with others to share first-party data in the U.S. Data source: Winterberry Group; LiveRamp</span></p>\n<p>In order to further underscore the importance of first-party data, we could see that 64.3% of companies had collaborative arrangements to share first-party data while 16.7% had plans to do so. In a post-cookie world, I believe organizations would even need to be more proactive in its data gathering and analytics efforts, and having a CDP like Segment to help in this would be absolutely critical.</p>\n<p><b>Yes, We Know That The Company Is Still Unprofitable</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3be2871e7911997921fe11150b8d0e30\" tg-width=\"1280\" tg-height=\"734\"><span>EBIT margin, SG&amp;A margin, R&amp;D margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Nevertheless, investors should be reminded that TWLO has yet to turn an operating profit, even though the company has guided to a long term operating margin of 28% over time. Investors should understand that TWLO would also not be expected to turn an operating profit anytime soon as the company is still in a heavy investment mode (as seen in its high SG&amp;A and R&amp;D margins) as it sees a lot of opportunities to invest and also possibly acquire, where it had made a number of high profile acquisitions such as Segment, ValueFirst, Syniverse, Zipwhip among others. The company strongly emphasized this point:</p>\n<blockquote>\n But that doesn't mean that we won't be profitable, can't be profitable. I mean, we're growing at very elevated levels, certainly better than our corporate average, if you will. It's just that the rest of our business is growing really fast, right? So for it to really show up in our financials, based on our current trajectory, something else would have to slow down, which is not what we want. It's not what you want. It's not what anybody wants really, right? So I think in due course, all these things will happen.\n</blockquote>\n<p>Therefore, TWLO investors are asked to demonstrate lots of patience, give time for TWLO to grow into its profitability and allow them to continue scaling up its revenue growth first. Consensus estimates see the company continuing to grow rapidly at about 44.5% YoY for FY 21 and also above 30% YoY subsequently. TWLO has also committed to grow its revenue above 30% for the next four years, so investors need to give TWLO time to deliver the goods, and this stock is therefore not for short term investors who are looking for a 2 to 3 year horizon, or a company that is prioritizing profitability over growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1059052c9408212d41ace9bed94cdd4a\" tg-width=\"1280\" tg-height=\"698\"><span>Revenue metrics. Data source: S&amp;P Capital IQ</span></p>\n<p><b>Valuations</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dbd552d195006ab4d2b5bb01567a6fdf\" tg-width=\"1280\" tg-height=\"590\"><span>SaaS EV / 2021 Rev.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/77dea7178c4b94d74a75bc24aab22561\" tg-width=\"1280\" tg-height=\"701\"><span>TWLO EV / Fwd Rev. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider TWLO’s EV / FY+1 multiple of 20.6x against the SaaS median of 26.3x, it may be reasonably argued that TWLO doesn’t look expensive. It’s also important to note that TWLO is also expected to grow rapidly where we expect to see its multiple fall significantly over time (assuming its EV stays constant, which of course will unlikely to be the case if TWLO continues to deliver its high growth strategies). We are pretty sure that there are many more companies within the SaaS space that are valued at a much higher premium and yet with a slower expected revenue growth profile.</p>\n<p><b>Price Action and Technical Analysis</b></p>\n<p><img src=\"https://static.tigerbbs.com/f626c7ad165f68d36e614c8163606c2f\" tg-width=\"1280\" tg-height=\"838\" referrerpolicy=\"no-referrer\"></p>\n<p>We think that TWLO has a generally strong long term uptrend bias that was only interrupted once by the COVID-19 bear market over the last 3 years. The price recently found support along the 50W moving average at around $300 and the price has since gradually continued to recover from its recent slump.</p>\n<p>Although we would prefer to add more positions near the $300 support level, we don’t think the current price level is expensive either, and think that investors may consider initiating or adding on to their positions at the current price level. They should however avoid adding near the $405 level as we believe that there should be near term resistance at that level. In addition, for investors who would prefer somewhat of a slight bargain, you may wait till the next retracement to test the 50W support again, of which a $320 level to add is also possible.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Twilio is a very high growth stock that has made revenue growth its most important priority right now as it sees tremendous growth opportunities ahead. Investors are asked to give TWLO time to grow into its expected long term profitability as the company sets itself up to be the leading player in the cloud communications and customer engagement space for companies across multiple industries.</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>Twilio: Investors Need To Give It Time To Scale Up And Be Profitable</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nTwilio: Investors Need To Give It Time To Scale Up And Be Profitable\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 17:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435794-twilio-investors-need-give-time-for-scale-up-and-profitable><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTwilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and it would fizzle out when reopening takes centre stage.\nMeanwhile, the company has continued to ...</p>\n\n<a href=\"https://seekingalpha.com/article/4435794-twilio-investors-need-give-time-for-scale-up-and-profitable\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWLO":"Twilio Inc"},"source_url":"https://seekingalpha.com/article/4435794-twilio-investors-need-give-time-for-scale-up-and-profitable","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107200738","content_text":"Summary\n\nTwilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and it would fizzle out when reopening takes centre stage.\nMeanwhile, the company has continued to build on its strength through numerous key acquisitions, among which the Segment deal stood out as the most important.\nAs a result of third-party cookies deprecation, companies would likely need Twilio even more moving forward.\nAt its current valuations and its high DBNER of 133%, investors should take advantage of the recent price weakness to gain access to Twilio now.\n\nDrew Angerer/Getty Images\nNewsInvestment Thesis\nMany investors have misunderstood Twilio’s (TWLO) business model due to its unprofitability even as it delivered industry leading revenue growth metrics. While it may have yet to be EBIT profitable, the company is setting itself up to be the CPaaS leader with a top notch customer engagement platform, following its acquisition of the No.1 Customer Data Platform [CDP] in the world: Segment. Investors should understand by now that the secular tailwinds driving digitisation are not going to reverse, and therefore TWLO is in a prime position to benefit as the platform for the world on their customer engagement needs. Add on the impending deprecation of third-party cookies, companies would likely find TWLO even more important in their customer engagement efforts moving forward. At its current valuation, investors should find that TWLO may actually be valued at a discount to many of the stocks listed in the SaaS space.\nTwilio is Not your Typical SaaS Stock\nDBNER. Data source: Company filings\nTwilio’s value proposition as a CPaaS is unlike the typical SaaS company that makes the most of its revenue through recurring subscriptions, and increase or maintain their DBNER or DBNRR by cross-selling into other products or up-selling their customers by taking on more seats. TWLO’s revenue is mainly based on usage. Therefore the company makes more revenue when customers use its platform more, and make less when customers use it less. Therefore, because it’s based on usage we could easily determine the strength of its customers' usage simply by observing its DBNER trend.TWLO’s DBNER “increases when such Active Customer Accounts increase their usage of a product, extend their usage of a product to new applications or adopt a new product. Twilio’s Dollar-Based Net Expansion Rate decreases when such Active Customer Accounts cease or reduce their usage of a product or when the Company lowers usage prices on a product.”\nTherefore, we could clearly observe from TWLO’s strong DBNER trend that its customers have been consistently increasing their net usage of its platform over the years, which actually already begun before COVID-19 hit. TWLO’s DBNER has been largely consistent as well and the company was also confident of achieving a normalized DBNER in the range of 130s moving forward.\nMoreover, the company has also highlighted that it continued to see increased use cases in its platform in many industries, and in particular in telehealth, which is another market that has been wrongly perceived to be only a COVID-19 phenomenon that has no sustainability. We have previously covered in a recent article on Teladoc (TDOC) on why telehealth’s rapid growth has begun well before the pandemic hit and is still very early in its growth phase as the market is expected to grow by more than 20% CAGR over the next 10 years. Therefore the secular tailwinds that are driving digitisation across many different industries would also drive increased business to TWLO as the market’s leading cloud communications and customer engagement platform.\nSaaS DBNER/DBNRR. Source: Atom Finance\nThis is especially so when we look across the SaaS space. Investors would be hard-pressed to find many companies that boast a NRR that has been consistently above 130% like TWLO (median: 120%). Another company that also uses usage-based pricing: Snowflake (SNOW) had a NRR of 168% in the latest quarter. Investors may think that these companies that adopt usage-based pricing may suffer if their customers drop off their usage rates drastically. However, TWLO and SNOW have both proven that their platforms are so sticky and offer so much value that once you are on it, you would keep using it more and more over time, and also expand usage into new products. Therefore, this usage-based pricing model has an inherently powerful booster to the company’s topline as use-cases kept increasing, something that a typical subscription-based ARR model may not be able to replicate without a usage-based model.\nMarket Truly Underestimated Segment's Acquisition\nIn our opinion, we think the market really underplayed Segment’s acquisition for TWLO. First, Segment is the No.1 CDP worldwide ranked by IDC, so we think TWLO has done an amazing deal there. In fact, the company emphasized how important they thought the acquisition meant to them (emphasis by us):\n\n We think the \n industrial logic of Segment plus Twilio is just a -- it's not just a home run.It's a grand slam. I think for us, having data capabilities married with communications capabilities is absolutely essential to deliver that rich customer experience.\n\nNotwithstanding the significant dilution funded from the mostly equity deal, I think investors should understand the strategic importance of having the best-of-breed CDP in its portfolio, which is crucially important to TWLO’s underlying CPaaS offering as it now confers its customers the access to real-time analytics with a unified view across disparate systems.\nLevel of impact of CDP on success metrics. Data source: Advertiser Perceptions; Treasure Data\nWe could observe from the above survey conducted with marketers across different industries on the profound impact of having a CDP in their marketing KPIs. The large majority of the respondents noted an improvement across all the metrics listed in this survey with a remarkably high percentage of the respondents (33% to 45%) indicating “significant improvement” in the respective categories.\nBenefits of CDP according to marketing technology decision makers. Data source: Advertiser Perceptions; UniFida\nIn addition, 49% of the respondents also indicated that the CDP allowed them to unify data across multiple sources, which they regarded as the most important benefit. Twilio also highlighted the importance of this as it added that “consumers are no longer tied to just one form of communication, and they expect companies to pull together disparate interactions to deliver increasingly personalized content based on what they’re doing -- anytime, anywhere, and over their preferred channels.”\nMeasures undertaken by marketers from the U.S. to counter the impact of the deprecation of third-party cookies. Data source: Epsilon; Adweek; Phronesis Partners\nMoreover, with the impending deprecation of third-party cookies, marketers have been looking for ways to cushion the impact of this loss, and the majority of them (67.3%) have been building a CDP. CDPs primarily collects and use first-party data, which is really the most important sources of customer data as it offers the most accurate and actionable insights, and also the one that is least vulnerable to privacy regulations, a point that was also acknowledged by TWLO when asked whether TWLO saw any tailwind on privacy regulations due to its first-party data access, of which the company replied:\n\n 100%. I think you hit the nail on that actually and effectively answered your own question. I think they're very much on the right side of this. I mean they are very, very strong data stewards. They're kind of a privacy-first company. I think even in the EU, some of the trends in geodynamics also play in their favor. And so I do think data and data regulations is a potential tailwind for them, yes.\n\nShare of organizations collaborating with others to share first-party data in the U.S. Data source: Winterberry Group; LiveRamp\nIn order to further underscore the importance of first-party data, we could see that 64.3% of companies had collaborative arrangements to share first-party data while 16.7% had plans to do so. In a post-cookie world, I believe organizations would even need to be more proactive in its data gathering and analytics efforts, and having a CDP like Segment to help in this would be absolutely critical.\nYes, We Know That The Company Is Still Unprofitable\nEBIT margin, SG&A margin, R&D margin. Data source: S&P Capital IQ\nNevertheless, investors should be reminded that TWLO has yet to turn an operating profit, even though the company has guided to a long term operating margin of 28% over time. Investors should understand that TWLO would also not be expected to turn an operating profit anytime soon as the company is still in a heavy investment mode (as seen in its high SG&A and R&D margins) as it sees a lot of opportunities to invest and also possibly acquire, where it had made a number of high profile acquisitions such as Segment, ValueFirst, Syniverse, Zipwhip among others. The company strongly emphasized this point:\n\n But that doesn't mean that we won't be profitable, can't be profitable. I mean, we're growing at very elevated levels, certainly better than our corporate average, if you will. It's just that the rest of our business is growing really fast, right? So for it to really show up in our financials, based on our current trajectory, something else would have to slow down, which is not what we want. It's not what you want. It's not what anybody wants really, right? So I think in due course, all these things will happen.\n\nTherefore, TWLO investors are asked to demonstrate lots of patience, give time for TWLO to grow into its profitability and allow them to continue scaling up its revenue growth first. Consensus estimates see the company continuing to grow rapidly at about 44.5% YoY for FY 21 and also above 30% YoY subsequently. TWLO has also committed to grow its revenue above 30% for the next four years, so investors need to give TWLO time to deliver the goods, and this stock is therefore not for short term investors who are looking for a 2 to 3 year horizon, or a company that is prioritizing profitability over growth.\nRevenue metrics. Data source: S&P Capital IQ\nValuations\nSaaS EV / 2021 Rev.\nTWLO EV / Fwd Rev. Data source: S&P Capital IQ\nWhen we consider TWLO’s EV / FY+1 multiple of 20.6x against the SaaS median of 26.3x, it may be reasonably argued that TWLO doesn’t look expensive. It’s also important to note that TWLO is also expected to grow rapidly where we expect to see its multiple fall significantly over time (assuming its EV stays constant, which of course will unlikely to be the case if TWLO continues to deliver its high growth strategies). We are pretty sure that there are many more companies within the SaaS space that are valued at a much higher premium and yet with a slower expected revenue growth profile.\nPrice Action and Technical Analysis\n\nWe think that TWLO has a generally strong long term uptrend bias that was only interrupted once by the COVID-19 bear market over the last 3 years. The price recently found support along the 50W moving average at around $300 and the price has since gradually continued to recover from its recent slump.\nAlthough we would prefer to add more positions near the $300 support level, we don’t think the current price level is expensive either, and think that investors may consider initiating or adding on to their positions at the current price level. They should however avoid adding near the $405 level as we believe that there should be near term resistance at that level. In addition, for investors who would prefer somewhat of a slight bargain, you may wait till the next retracement to test the 50W support again, of which a $320 level to add is also possible.\nWrapping It All Up\nTwilio is a very high growth stock that has made revenue growth its most important priority right now as it sees tremendous growth opportunities ahead. Investors are asked to give TWLO time to grow into its expected long term profitability as the company sets itself up to be the leading player in the cloud communications and customer engagement space for companies across multiple industries.","news_type":1,"symbols_score_info":{"TWLO":0.9}},"isVote":1,"tweetType":1,"viewCount":233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167650817,"gmtCreate":1624266746339,"gmtModify":1634008680444,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/167650817","repostId":"1154249454","repostType":4,"isVote":1,"tweetType":1,"viewCount":183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161091781,"gmtCreate":1623895550843,"gmtModify":1634026226232,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls 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like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161004592","repostId":"1152730219","repostType":4,"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161005418,"gmtCreate":1623895343834,"gmtModify":1634026231430,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/161005418","repostId":"1104709957","repostType":4,"repost":{"id":"1104709957","kind":"news","pubTimestamp":1623893470,"share":"https://www.laohu8.com/m/news/1104709957?lang=&edition=full","pubTime":"2021-06-17 09:31","market":"us","language":"en","title":"China launches first astronauts to its space station","url":"https://stock-news.laohu8.com/highlight/detail?id=1104709957","media":"CNBC","summary":"KEY POINTS\n\nChina launched the first astronauts to its self-developed space station on Thursday.\nThe","content":"<div>\n<p>KEY POINTS\n\nChina launched the first astronauts to its self-developed space station on Thursday.\nThe three astronauts — Nie Haisheng, Liu Boming and Tang Hongbo — were taken up on a Shenzhou-12 ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/17/china-launches-first-astronauts-to-its-self-developed-space-station.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>China launches first astronauts to its space station</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nChina launches first astronauts to its space station\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-17 09:31 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/17/china-launches-first-astronauts-to-its-self-developed-space-station.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nChina launched the first astronauts to its self-developed space station on Thursday.\nThe three astronauts — Nie Haisheng, Liu Boming and Tang Hongbo — were taken up on a Shenzhou-12 ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/17/china-launches-first-astronauts-to-its-self-developed-space-station.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"399001":"深证成指","399006":"创业板指","000001.SH":"上证指数"},"source_url":"https://www.cnbc.com/2021/06/17/china-launches-first-astronauts-to-its-self-developed-space-station.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1104709957","content_text":"KEY POINTS\n\nChina launched the first astronauts to its self-developed space station on Thursday.\nThe three astronauts — Nie Haisheng, Liu Boming and Tang Hongbo — were taken up on a Shenzhou-12 spacecraft which was launched atop a Long March 2F rocket at around 9:22 a.m. China time.\nBeijing has made space exploration a top priority as China looks to challenge the U.S. in a number of areas of technology.\n\nAstronauts (L-R) Tang Hongbo, Nie Haisheng, and Liu Boming depart for the launch site of the Senzhou-12 spacecraft at the Jiuquan Satellite Launch Center on June 17, 2021 in Jiuquan, Gansu Province, China.\nGUANGZHOU, China — China launched the first astronauts to its self-developed space station on Thursday.\nThe move marks a major step as the world’s second-largest economy looks to boost its space capabilities and challenge the U.S.\nThe three astronauts — Nie Haisheng, Liu Boming and Tang Hongbo — were taken up on a Shenzhou-12 spacecraft which was launched atop a Long March 2F rocket at around 9:22 a.m. China time. It took off from the Jiuquan Satellite Launch Center, in northwest of the country.\nIt’s the first time China has sent a manned mission to space since 2016. If successful, it will be a major point of pride as Beijing prepares for the 100 year anniversary of the founding of the Communist party.\nBeijing has made space exploration a top priority as China looks to challenge the U.S. in a number of areas of technology.\nChina expects its three-module self-developed space station to be fully operational by 2022.\nIn April, it launched one of the modules that will make up the space station called “Tianhe”, which will be the living quarters for the astronauts. And last month, China sent the Tianzhou-2 cargo spacecraft to dock with Tianhe. This spacecraft contains supplies for the astronauts such as food.\nChina will carry out 11 missions this year and next to complete the construction of the space station, including four manned missions.\nThe three astronauts sent to the space station on Thursday will spend three months there, testing the technologies required for the construction and operation of the space station such as life support mechanisms and in-orbit maintenance and also carry out space walks.\nThe space station will have separate sleeping areas as well as space-to-ground communications.\nChina is barred from sending its astronauts to the International Space Station, which is a co-operative effort between the United States, Russia, Europe, Japan, and Canada. That has fueled its ambition to make its own space station, which is expected to remain in operation for at least 10 years. The ISS, meanwhile, could be retired in 2024.","news_type":1,"symbols_score_info":{"399001":0.9,"399006":0.9,"000001.SH":0.9}},"isVote":1,"tweetType":1,"viewCount":278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161005349,"gmtCreate":1623895324881,"gmtModify":1634026232015,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls 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like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161002830","repostId":"1100450643","repostType":4,"isVote":1,"tweetType":1,"viewCount":197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160434707,"gmtCreate":1623804042009,"gmtModify":1634027974125,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/160434707","repostId":"2143680537","repostType":4,"isVote":1,"tweetType":1,"viewCount":269,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":186230996,"gmtCreate":1623499930415,"gmtModify":1634032337303,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/186230996","repostId":"1104635261","repostType":4,"repost":{"id":"1104635261","kind":"news","pubTimestamp":1623470020,"share":"https://www.laohu8.com/m/news/1104635261?lang=&edition=full","pubTime":"2021-06-12 11:53","market":"us","language":"en","title":"AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders","url":"https://stock-news.laohu8.com/highlight/detail?id=1104635261","media":"The Wall Street Journal","summary":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Enter","content":"<blockquote>\n <b>Losses by Mudrick Capital show the risks of exposure to meme stocks.</b>\n</blockquote>\n<p>A multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.</p>\n<p>Mudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.</p>\n<p>The setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.</p>\n<p>The development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.</p>\n<p>Jason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.</p>\n<p>As part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.</p>\n<p>Mudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.</p>\n<p>“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.</p>\n<p>Inside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.</p>\n<p>It was a day too late.</p>\n<p>AMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.</p>\n<p>Mr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.</p>\n<p>The impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.</p>\n<p>Mr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.</p>\n<p>But distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.</p>\n<p>Mr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.</p>\n<p>Day traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.</p>\n<p>Around that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.</p>\n<p>Mr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAMC Bet by Hedge Fund Unravels Thanks to Meme-Stock Traders\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-12 11:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest ...</p>\n\n<a href=\"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.wsj.com/articles/amc-bet-by-hedge-fund-unravels-thanks-to-meme-stock-traders-11623431320?mod=markets_lead_pos2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1104635261","content_text":"Losses by Mudrick Capital show the risks of exposure to meme stocks.\n\nA multipronged bet onAMC Entertainment HoldingsInc.AMC15.39%boomeranged this month on Mudrick Capital Management LP, the latest hedge fund to fall victim to swarming day traders.\nMudrick’s flagship fund lost about 10% in just a few days as a jump in AMC’s stock price unexpectedly triggered changes in the value of derivatives the fund held as part of a complex trading strategy, people familiar with the matter said.\nThe setback comes months after a group of traders organizing on social media helped send the price ofGameStopCorp.GME5.88%and other stocks soaring in January, well beyond many investors’ views of underlying fundamentals.\nThe development prompted many hedge funds to slash their exposure to meme stocks. Mudrick Capital’s losses highlight how risky retaining significant exposure to such companies can be—even backfiring on a hedge-fund manager who was mostly in sync with the bullishness of individual investors.\nJason Mudrick, the firm’s founder, had been trading AMC stock, options and bonds for months, surfing a surge of enthusiasm for the theater chain among individual investors. But he also sold call options, derivative contracts meant to hedge the fund’s exposure to AMC should the stock price founder. Those derivative contracts, which gave its buyers the right to buy AMC stock from Mudrick at roughly $40 in the future, ballooned into liabilities when a resurgence ofReddit-fueled buyingrecently pushed AMC’s stock to new records, the people said.\nAs part of the broader AMC strategy, executives at Mudrick Capital were in talks with AMC to buy additional shares from the company in late May. On June 1, AMC disclosed that Mudrick Capital had agreed to buy $230.5 million of new stock directly from the company at $27.12 apiece, a premium over where it was then trading.\nMudrick immediately sold the stock at a profit, a quick flip that was reported by Bloomberg News and that sparked backlash on social media.\n“Mudrick didn’t stab AMC in the back…They shot themselves in the foot,” read one post on Reddit’s Wall Street Bets forum on June 1. Other posts around that time referenced Mudrick as “losers,” “scum bags” and “a large waving pile of s—t with no future.” Members of the forum urged each other to buy and hold.\nInside Mudrick, executives were growing apprehensive as the AMC rally gained steam. The firm’s risk committee met on the evening of June 1 after the stock closed at $32 and decided to exit all debt and derivative positions the following day.\nIt was a day too late.\nAMC’s stock price blew past $40in a matter of hours June 2, hitting an intraday high of $72.62.Call option prices soaredamid a frenzy of trading that Mudrick Capital contributed to and, by the end of the week, the winning trade had turned into a bust, costing the fund hundreds of millions of dollars in losses. Mudrick Capital made a roughly 5% return on the debt it sold but after accounting for its options trade, the fund took a net loss of about 5.4% on AMC.\nMr. Mudrick’s fund is still up about 12% for the year, one of the people said. Meanwhile, investors who bought AMC stock at the start of the year and held on have gained about 2000%.\nThe impact of social media-fueled day traders has become a defining market development this year, costing top hedge funds billions of dollars in losses, sparking a congressional hearing anddrawing scrutinyfrom the U.S. Securities and Exchange Commission. More hedge funds now track individual investors’ sentiment on social media and pay greater attention to companies with smaller market values whose stock price may be more susceptible to the enthusiasms of individual investors.\nMr. Mudrick specializes in distressed debt investing, often lending to troubled companies at high interest rates or swapping their existing debt for equity in bankruptcy court. Mudrick manages about $3.5 billion in investments firmwide and holds large, illiquid stakes in E-cigarette maker NJOY Holdings Inc. and satellite communications companyGlobalstarInc.from such exchanges. The flagship fund reported returns of about 17% annually from 2018 to 2020, according to data from HSBC Alternative Investment Group.\nBut distressed investing opportunities have grownharder to findas easy money from the Federal Reserve has given even struggling companies open access to debt markets. Mr. Mudrick has explored other strategies, launching several special-purpose acquisition companiesand, in the case of AMC, ultimately buying stock in block trades.\nMr. Mudrick initially applied his typical playbook to AMC, buying bonds for as little as 20 cents on the dollar,lending the company $100 millionin December and swapping some bonds into new shares. Theater attendance, already under pressure, had disappeared almost entirely amid Covid-19 pandemic lockdowns, and AMC stock traded as low as $2. He reasoned that consumers would regain their appetite for big-screen entertainment this year as more Americans got vaccinated.\nDay traders took theirfirst run at AMC in late January, urging each other on with the social-media rallying cry of #SaveAMC and briefly lifting the stock to around $20. AMC’s rising equity value boosted debt prices—one bond Mudrick Capital owned doubled within a week—quickly rewarding Mr. Mudrick’s bullishness. AMC capitalized on its surging stock priceto raise nearly $1 billion in new financingin late January, enabling it to ward off a previously expected bankruptcy filing.\nAround that time, Mr. Mudrick sold call options on AMC stock, producing immediate income to offset potential losses if the theater chain did face problems. The derivatives gave buyers the option to buy AMC shares from Mudrick Capital for about $40—viewed as a seeming improbability when the stock was trading below $10.\nMr. Mudrick remained in contact with AMC Chief Executive Adam Aron about providing additional funding, leading to his recent share purchase. But he kept the derivative contracts outstanding as an insurance policy, one of the people familiar with the matter said.","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181395096,"gmtCreate":1623372991815,"gmtModify":1634034078445,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181395096","repostId":"1184070773","repostType":4,"repost":{"id":"1184070773","kind":"news","pubTimestamp":1623367038,"share":"https://www.laohu8.com/m/news/1184070773?lang=&edition=full","pubTime":"2021-06-11 07:17","market":"us","language":"en","title":"S&P 500 climbs to a new record close, shrugging off inflation fears","url":"https://stock-news.laohu8.com/highlight/detail?id=1184070773","media":"cnbc","summary":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.The broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about ","content":"<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>S&P 500 climbs to a new record close, shrugging off inflation fears</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nS&P 500 climbs to a new record close, shrugging off inflation fears\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed ...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","UPS":"联合包裹",".SPX":"S&P 500 Index",".DJI":"道琼斯","GME":"游戏驿站"},"source_url":"https://www.cnbc.com/2021/06/09/stock-market-open-to-close-news.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1184070773","content_text":"The S&P 500 rose to an all-time high on Thursday as investors shrugged off a key inflation report that showed a bigger-than-expected increase in price pressures.\nThe broad equity benchmark climbed nearly 0.5% to a record closing high of 4,239.18. The S&P 500 also hit an intraday record of 4,249.74, overtaking its May 7 high after the market traded sideways for a month. The Dow Jones Industrial Average advanced 19.10 points, or less than 0.1%, to 34,466.24, while the Nasdaq Composite gained about 0.8% to 14,020.33.\nConsumer prices for May accelerated at their fastest pace since the summer of 2008 amid the economic recovery from the pandemic-triggered recession,the Labor Department reported Thursday.\nThe consumer price index, which represents a basket including food, energy, groceries and prices across a spectrum of goods, rose 5% from a year ago. Economists surveyed by Dow Jones had been expecting a gain of 4.7%.\n\"I think there were a lot of people who held back, who wanted to see the hotter inflation number,\" CNBC's Jim Cramer said on \"Squawk on the Street.\" \"Now they've said, 'OK, now that's over with. Let's do some buying.' Because they've been on the sideline and they want to get in. I don't think that's actually usual these days because there's still so much buying power out there. People want in.\"\nFears of spiking inflation have weighed on the stock market in the last month, with investors worried the jump in prices will raise costs for companies, spark a move higher in interest rates and cause the Federal Reserve to remove its easy money policies.\n\"This CPI isn't likely to change the narrative dramatically, and there are still indications that inflation momentum is set to abate in the coming months,\" Adam Crisafulli, founder of Vital Knowledge, said in a note Thursday.\nMany economists also said the surge in used car costs for the month could have skewed the inflation reading. Used car and truck prices jumped more than 7%, accounting for one-third of the total increase for the month, according to the Bureau of Labor Statistics. The jump in used car prices likely reflects a temporary phenomenon related to the pandemic and auto supply.\nA separate report released Thursday showed that jobless claims for the week ended June 5 came in at 376,000, versus a Dow Jones estimate of 370,000. The total still marked the lowest of the pandemic era.\nUPS shares rose about 1% afteran upgrade from JPMorgan. Shares of Boeing were higher, but Delta Air Lines slipped.\nVideo-game retailer and meme stock GameStop fell 27% even after the company tapped former Amazon executive Matt Furlong to be its next CEO and said that sales rose 25% last quarter. The company also said it may sell up to 5 million additional shares.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"GME":0.9,"UPS":0.9}},"isVote":1,"tweetType":1,"viewCount":131,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":143910342,"gmtCreate":1625755081486,"gmtModify":1633937639376,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/143910342","repostId":"1153443504","repostType":4,"isVote":1,"tweetType":1,"viewCount":1017,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181394292,"gmtCreate":1623373049416,"gmtModify":1634034076837,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://laohu8.com/post/181394292","repostId":"2142688273","repostType":4,"isVote":1,"tweetType":1,"viewCount":114,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167651884,"gmtCreate":1624266888948,"gmtModify":1634008678688,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/167651884","repostId":"1149553617","repostType":4,"repost":{"id":"1149553617","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1624263578,"share":"https://www.laohu8.com/m/news/1149553617?lang=&edition=full","pubTime":"2021-06-21 16:19","market":"us","language":"en","title":"Blockchain stocks dipped in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1149553617","media":"Tiger Newspress","summary":"(June 21) Bitcoin (BTC-USD) started the week in bear mode, Last Wednesday, the Fed's surprise hawkis","content":"<p>(June 21)&nbsp;Bitcoin (BTC-USD) started the week in bear mode,&nbsp;Last Wednesday,&nbsp;the Fed's surprise hawkish turn . St. Louis Fed boss Jim Bullard this morning added to things &nbsp;Last Friday morning,&nbsp;saying he believes the first rate hike will come late in 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/d123707a69b0e6ba950ac413cd757015\" tg-width=\"1075\" tg-height=\"786\" referrerpolicy=\"no-referrer\"></p>\n<p>While that's still a long way off, Fed thinking has clearly gone from continuing to pump the recovery, to caution about overheating. It's hitting risk assets of all sorts, including bitcoin, now&nbsp;down about 6.5%&nbsp;on the session, and barely above $33K.</p>\n<p>Blockchain-related players: Microstrategy (MSTR-5.95%), Riot Blockchain (RIOT-5.53%), Marathon Patent (MARA-5.29%), Canaan (CAN-4.30%)</p>\n<p><img src=\"https://static.tigerbbs.com/507c43db5da2929250ca3af23986a198\" tg-width=\"308\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p>\n<p>Getting away from price action, adoption continues to grow, with Goldman Sachs this morning hooking up with alumnus Mike Novogratz's Galaxy Digitalto ramp up bitcoin trading offerings for its roster of institutional clients.</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>Blockchain stocks dipped in premarket trading</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nBlockchain stocks dipped in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-06-21 16:19</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(June 21)&nbsp;Bitcoin (BTC-USD) started the week in bear mode,&nbsp;Last Wednesday,&nbsp;the Fed's surprise hawkish turn . St. Louis Fed boss Jim Bullard this morning added to things &nbsp;Last Friday morning,&nbsp;saying he believes the first rate hike will come late in 2022.</p>\n<p><img src=\"https://static.tigerbbs.com/d123707a69b0e6ba950ac413cd757015\" tg-width=\"1075\" tg-height=\"786\" referrerpolicy=\"no-referrer\"></p>\n<p>While that's still a long way off, Fed thinking has clearly gone from continuing to pump the recovery, to caution about overheating. It's hitting risk assets of all sorts, including bitcoin, now&nbsp;down about 6.5%&nbsp;on the session, and barely above $33K.</p>\n<p>Blockchain-related players: Microstrategy (MSTR-5.95%), Riot Blockchain (RIOT-5.53%), Marathon Patent (MARA-5.29%), Canaan (CAN-4.30%)</p>\n<p><img src=\"https://static.tigerbbs.com/507c43db5da2929250ca3af23986a198\" tg-width=\"308\" tg-height=\"365\" referrerpolicy=\"no-referrer\"></p>\n<p>Getting away from price action, adoption continues to grow, with Goldman Sachs this morning hooking up with alumnus Mike Novogratz's Galaxy Digitalto ramp up bitcoin trading offerings for its roster of institutional clients.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAN":"嘉楠科技","RIOT":"Riot Platforms","EBON":"亿邦国际","BTBT":"Bit Digital, Inc.","MSTR":"Strategy","NCTY":"第九城市","MARA":"MARA Holdings"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149553617","content_text":"(June 21) Bitcoin (BTC-USD) started the week in bear mode, Last Wednesday, the Fed's surprise hawkish turn . St. Louis Fed boss Jim Bullard this morning added to things  Last Friday morning, saying he believes the first rate hike will come late in 2022.\n\nWhile that's still a long way off, Fed thinking has clearly gone from continuing to pump the recovery, to caution about overheating. It's hitting risk assets of all sorts, including bitcoin, now down about 6.5% on the session, and barely above $33K.\nBlockchain-related players: Microstrategy (MSTR-5.95%), Riot Blockchain (RIOT-5.53%), Marathon Patent (MARA-5.29%), Canaan (CAN-4.30%)\n\nGetting away from price action, adoption continues to grow, with Goldman Sachs this morning hooking up with alumnus Mike Novogratz's Galaxy Digitalto ramp up bitcoin trading offerings for its roster of institutional clients.","news_type":1,"symbols_score_info":{"BTBT":0.9,"CAN":0.9,"EBON":0.9,"MARA":0.9,"MSTR":0.9,"NCTY":0.9,"RIOT":0.9}},"isVote":1,"tweetType":1,"viewCount":1610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167650817,"gmtCreate":1624266746339,"gmtModify":1634008680444,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/167650817","repostId":"1154249454","repostType":4,"isVote":1,"tweetType":1,"viewCount":183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181395549,"gmtCreate":1623373012281,"gmtModify":1634034077762,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181395549","repostId":"1118137604","repostType":4,"repost":{"id":"1118137604","kind":"news","pubTimestamp":1623372605,"share":"https://www.laohu8.com/m/news/1118137604?lang=&edition=full","pubTime":"2021-06-11 08:50","market":"us","language":"en","title":"Inflation is hotter than expected, but it looks temporary and likely won’t affect Fed policy yet","url":"https://stock-news.laohu8.com/highlight/detail?id=1118137604","media":"cnbc","summary":"Consumer prices jumped more than expected in May,but the surge in inflation looks to be temporary an","content":"<div>\n<p>Consumer prices jumped more than expected in May,but the surge in inflation looks to be temporary and should not push the Federal Reserve to tighten policy for now.\nThe consumer price index rose 5% in...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/10/inflation-hotter-than-expected-but-transitory-wont-affect-fed-policy.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","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>Inflation is hotter than expected, but it looks temporary and likely won’t affect Fed policy yet</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; 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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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nInflation is hotter than expected, but it looks temporary and likely won’t affect Fed policy yet\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-11 08:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/06/10/inflation-hotter-than-expected-but-transitory-wont-affect-fed-policy.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Consumer prices jumped more than expected in May,but the surge in inflation looks to be temporary and should not push the Federal Reserve to tighten policy for now.\nThe consumer price index rose 5% in...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/10/inflation-hotter-than-expected-but-transitory-wont-affect-fed-policy.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/06/10/inflation-hotter-than-expected-but-transitory-wont-affect-fed-policy.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1118137604","content_text":"Consumer prices jumped more than expected in May,but the surge in inflation looks to be temporary and should not push the Federal Reserve to tighten policy for now.\nThe consumer price index rose 5% in May on a year-over-year basis, the highest since the summer of 2008, when oil prices were skyrocketing. Excluding food and energy, core CPI rose 3.8% year over year, the highest pace since 1992. A third of the increase was attributed to a sharp 7.3% increase in used car and truck prices.\nFed officials have described the current period of high inflation as transitory, meaning it should be brief or short-lived. They have expected several months of elevated price increases because of pent-up demand and supply chain lags. The comparison to last year's weak levels — at a time when the economy was mostly shut down — is also a factor.\n\"The pick-up in inflation is stronger than expected, but it still looks like it is in transitory categories,\" said John Briggs of NatWest Markets. \"[Fed officials] can probably get away with talking about transitory.\"\nThe Federal Reserve meets June 15 and 16. There was some market speculation that if inflation looked very hot, the central bank might move up the time frame in which it would discuss moving away from its easy policies.\nEconomists expect the first step toward easing would be when the Fed publicly discusses its decision to cut back on the $120 billion in Treasury and mortgage securities it buys each month.\nThe bond buying,or so-called \"quantitative easing\" program, was designed to create liquidity and keep interest rates low.\nAfter starting the discussion about its bond program, the central bank is then expected to wait several months before beginning a gradual whittling away of purchases until it gets to zero. The Fed would then consider raising itstarget federal fund ratefrom zero, but that is not expected until 2023.\nMany economists have been expecting the Fed to first talk about tapering bond buying at itsJackson Hole Economic Symposiumin late August, before actually cutting the size of purchases in late 2021 or next year.\n\nMark Zandi, chief economist at Moody's Analytics, said there's evidence the price pressures could be fleeting, as the Fed expects.\n\"A lot of the surge in prices are for things that are just normalizing. ... Hotels and rental cars and used vehicles, sporting events, restaurants. Everyone is just getting back to normal, so pricing is just returning to what it was pre-pandemic,\" Zandi said.\nHowever, he added that it's too soon to say inflation won't be more persistent than the Fed expects. \"It's premature to conclude all of this is transitory and where underlying inflation is ultimately going to land when we get through the price normalizations,\" Zandi said. He expects when the surge is over, inflation will be at a higher level than it was pre-pandemic.\nThe Fed has said it would tolerate inflation running above its 2% target, and it would consider an average range for those price increases. That means it has committed to hold off on raising interest rates as soon as it sees inflation risks rising, as it has done in the past.\nFinancial markets took the surge in CPI in stride, andstocks jumped after the 8:30 a.m. ET report. The Dow gained more than 200 points but gave up its best gains. The 10-year Treasury was slightly higher at 1.49%, after initially rising as high as 1.53%. Yields move opposite price. Fears the inflation number would push the Fed to shift policy sooner would have driven yields much higher.\nThe components of higher prices\nEconomists said some of the price increases were surprising, but the price gains in the bigger contributors to CPI remained relatively subdued.\n\"The used car component is just stunning,\" said Grant Thornton chief economist Diane Swonk. \"What's kind of surprising is how low the shelter component has remained. It's coming up from where it decelerated. There's now the question of it picking up. We have to watch that, but I would have expected more of a hotel room increase in shelter.\"\nShelter accounts for more than 30% of CPI. The shelter index rose 0.3% in May, and 2.2% over the last 12 months. The rent portion rose 0.2%, and the index for owners' equivalent rent — or the hypothetical amount a homeowner would charge someone to rent their dwelling — rose 0.3%. Lodging away from home rose just 0.4%, after jumping 7.6% in April.\nAnother big component, medical care, fell 0.1% after rising in the four previous months. Medical care prices rose just 0.9% over the past 12 months, the smallest increase since the period ending March 1941.\n\"Medical care and housing are two very large components of inflation. They're both very sticky and a reason to think inflation will settle at a higher level but not at a level that is uncomfortable,\" said Zandi. \"The reason for being so sanguine is around medical care and housing.\" He said the expansion of the Affordable Care Act has helped hold down medical costs.\n\n The pick-up in inflation is stronger than expected, but it still looks like it is in transitory categories.John BriggsNATWEST MARKETS\n\nGrant Thornton's Swonk said she does not expect much from the Fed next week and the inflation report does not change that.\n\"The remarkable resilience of the long bond — it gives the Fed the opportunity to think about tapering, because financial markets are buying it as a transitory surge in inflation,\" Swonk said, referring to the 30-year Treasury.\nInvestors have been buying the 10-year and 30-year Treasury bonds since last week's weaker-than-expected May jobs report. The 30-year yield has fallen to 2.16%. Bond yields move opposite prices.\nFor now, investors are not fearful the Fed will move sooner, but Swonk says there could still be a few more hot inflation reports.\n\"It's higher than [Fed officials] would like. It surprised to the upside. My guess is it lasts longer than they expect. I expect it to last longer and be hotter but still go away,\" she said.\nBut she still expects the Fed to wait until the end of the summer to talk about changing its bond purchases.\n“I always expected tapering talk to begin more openly at the Jackson Hole meeting. It hasn’t changed my view. Some people thought the Fed would get closer to full employment before they did liftoff on tapering,” Swonk said.\nShe said some data in the CPI report dovetails with the jobs data. Theeconomy created 559,000 jobs in May, about 100,000 less than expected.\n“If you look at the combination of events — used car prices, insurance costs on vehicles, all of these things accelerated and now they’re rebounding. Prices at the pump, they’re up over 50% from a year ago,” Swonk said. “All of this is making it harder for workers to get to low-wage jobs.”","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":156,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181394331,"gmtCreate":1623373029923,"gmtModify":1634034077319,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/181394331","repostId":"1132770051","repostType":4,"isVote":1,"tweetType":1,"viewCount":80,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167653005,"gmtCreate":1624266839407,"gmtModify":1634008679526,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/167653005","repostId":"1105691189","repostType":4,"repost":{"id":"1105691189","kind":"news","pubTimestamp":1624266134,"share":"https://www.laohu8.com/m/news/1105691189?lang=&edition=full","pubTime":"2021-06-21 17:02","market":"us","language":"en","title":"How Steve Cohen Traded The Bursting Of The Dot Com Bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=1105691189","media":"zerohedge","summary":"This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief ane","content":"<p>This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief anecdote from my time at SAC Capital back in 2000:</p>\n<p><b>Just after the peak of the dot com bubble in March, it was not immediately clear which way the US equity market was headed.</b></p>\n<p>Many thought the momentum would return soon enough. Others were more cautious, but most bears had been wrong for years. It was therefore hard to take them seriously.</p>\n<p><b>Going into a Fed meeting day in mid-2000, Steve had set up his portfolio very short S&amp;P futures.</b></p>\n<p>Because every trader in the room was allowed to see his pad, we all followed suit. Everyone was max-out short, confident in Steve’s market call even though it wasn’t exactly clear what he saw.</p>\n<p><b>Stocks opened up that morning, and then headed higher still.</b></p>\n<p>The room was dead quiet, as every trading desk will be when experiencing sharp, sudden losses.</p>\n<p><b>Then Steve did something I had never seen him do before: he left the desk and went downstairs to have lunch with his family.</b>At the time, SAC shared space with GE Capital in a Stamford, CT office building. When I went down to the cafeteria to get lunch a little while later, I saw Steve chatting with his kids and wife while munching on some fish sticks. He didn’t really seem to have a care in the world.</p>\n<p><b>At 2:00pm, with Steve back on the desk, we all waited for the Fed decision.</b>It was another rate hike. But instead of selling off, the S&amp;P just kept going up. The only sound in the room was Steve’s assistant calling out S&amp;P levels, each one higher than the last, her voice growing more urgent with each number. Had Steve misread the tape?</p>\n<p><b>After about 15 minutes, though, the S&amp;P leveled out and started to drop.</b></p>\n<p>First by just a little, but then it went into free fall. The whole firm’s P&amp;L swung from dangerously in the red to deeply profitable.</p>\n<p><b>At 4pm, with all his shorts covered, Steve stood up and addressed the room: “And that’s how you do it … I’m going home now”.</b>We gave him a standing ovation.</p>\n<p><img src=\"https://static.tigerbbs.com/5dc81a4bd27d4c16642589177ca9ad3e\" tg-width=\"500\" tg-height=\"289\">I’ve thought a lot about that day in the last 20 years, and not just because it so neatly encapsulates the experience of equity day trading in its late 1990s – early 2000s heyday.</p>\n<p><b>It taught me that:</b></p>\n<p><u><b>#1) Conviction matters.</b></u></p>\n<p>We used to have a debate on the desk at SAC: was Steve so good because he was already worth a billion dollars and could afford to take risk, or did his net worth come from his ability to only scale and stick with bets where he had the highest conviction? Days like the one I just described always made us realize it was the latter.</p>\n<p>There is more to that point, though. Many years later, I met a data team that had done a deep diagnostic analysis of hundreds of hedge funds. They looked primarily at what separated top decile performing funds from the rest of the pack.</p>\n<p>They found that much of the slippage in underperforming funds came from a myriad of small portfolio positions that collectively ate away at returns. Some were losers, yes, but many were winners that weren’t sized large enough to make a real difference in the portfolio. Top performing funds owned winners in size; lesser funds were involved as well, but only in a small way.</p>\n<p>No prizes for guessing why that happened: conviction.<b>Mediocre funds had enough of an investment process to unearth good ideas, but not enough to size them correctly</b>. They weren’t willing to make a larger bet because they knew they would not be able to patiently sit out any volatility that might arise if it were 5 percent of the portfolio rather than 0.5 percent.</p>\n<p>Takeaway: conviction and sizing are what separated Steve, and every other great investor I’ve ever met, from the merely “very good”. It’s not enough to find ideas that work. The real magic is in making them count.</p>\n<p><u><b>#2: Use whatever mental hacks you need to foster patience</b></u><u>.</u></p>\n<p>Steve’s was getting off the desk for an hour. Other highly successful investors I’ve met over the years literally turned off their screens or took a symbol off their monitors.</p>\n<p>This is not to say one can just blindly buy an asset and hold it whatever comes. Productive patience means following many rules. A few of my personal favorites:</p>\n<ul>\n <li><p>Don’t buy new lows.</p></li>\n <li><p>Don’t short new highs.</p></li>\n <li><p>Always scale in and out of positions.</p></li>\n <li><p>Set stop losses where you re-evaluate your point of view.</p></li>\n <li><p>Always look for new ideas.</p></li>\n <li><p>Admit when you’re wrong and move on.</p></li>\n</ul>\n<p><b>Takeaway: the story about Steve on Fed Day is not meant to celebrate blind patience, but rather to show how patience fits in the context of a broader, disciplined approach.</b>If Steve had been wrong on that day, he would have still stuck to his process the next day and the day after that. No one has a 100 percent hit rate in this business.</p>\n<p>Final thought: the ability to be patient is, in the end, always a function of conviction and environment. Since we have little control over environment, especially with capital markets, the only effective way to cultivate patience is to build and follow a process that increases conviction in the context of prevailing circumstances.</p>\n<p>Ironically, low volatility markets such as what we have now demand more patience and conviction than when prices are choppier. Even a 1 percent position in a spicy name can meaningfully help portfolio returns when the VIX is at 40. But when the VIX is below 20 (today’s close was 18), it’s an entirely different game. The current environment demands a focused investment approach, not a scattershot one.</p>\n<p>Yes, this is hard, but as Steve said, “That’s how you do it”.</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>How Steve Cohen Traded The Bursting Of The Dot Com Bubble</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nHow Steve Cohen Traded The Bursting Of The Dot Com Bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 17:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/how-steve-cohen-traded-bursting-dot-com-bubble?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief anecdote from my time at SAC Capital back in 2000:\nJust after the peak of the dot com bubble in March, ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/how-steve-cohen-traded-bursting-dot-com-bubble?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/how-steve-cohen-traded-bursting-dot-com-bubble?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1105691189","content_text":"This week’s Story Time Thursday is about “Patience”, and I (Nick here …) will start with a brief anecdote from my time at SAC Capital back in 2000:\nJust after the peak of the dot com bubble in March, it was not immediately clear which way the US equity market was headed.\nMany thought the momentum would return soon enough. Others were more cautious, but most bears had been wrong for years. It was therefore hard to take them seriously.\nGoing into a Fed meeting day in mid-2000, Steve had set up his portfolio very short S&P futures.\nBecause every trader in the room was allowed to see his pad, we all followed suit. Everyone was max-out short, confident in Steve’s market call even though it wasn’t exactly clear what he saw.\nStocks opened up that morning, and then headed higher still.\nThe room was dead quiet, as every trading desk will be when experiencing sharp, sudden losses.\nThen Steve did something I had never seen him do before: he left the desk and went downstairs to have lunch with his family.At the time, SAC shared space with GE Capital in a Stamford, CT office building. When I went down to the cafeteria to get lunch a little while later, I saw Steve chatting with his kids and wife while munching on some fish sticks. He didn’t really seem to have a care in the world.\nAt 2:00pm, with Steve back on the desk, we all waited for the Fed decision.It was another rate hike. But instead of selling off, the S&P just kept going up. The only sound in the room was Steve’s assistant calling out S&P levels, each one higher than the last, her voice growing more urgent with each number. Had Steve misread the tape?\nAfter about 15 minutes, though, the S&P leveled out and started to drop.\nFirst by just a little, but then it went into free fall. The whole firm’s P&L swung from dangerously in the red to deeply profitable.\nAt 4pm, with all his shorts covered, Steve stood up and addressed the room: “And that’s how you do it … I’m going home now”.We gave him a standing ovation.\nI’ve thought a lot about that day in the last 20 years, and not just because it so neatly encapsulates the experience of equity day trading in its late 1990s – early 2000s heyday.\nIt taught me that:\n#1) Conviction matters.\nWe used to have a debate on the desk at SAC: was Steve so good because he was already worth a billion dollars and could afford to take risk, or did his net worth come from his ability to only scale and stick with bets where he had the highest conviction? Days like the one I just described always made us realize it was the latter.\nThere is more to that point, though. Many years later, I met a data team that had done a deep diagnostic analysis of hundreds of hedge funds. They looked primarily at what separated top decile performing funds from the rest of the pack.\nThey found that much of the slippage in underperforming funds came from a myriad of small portfolio positions that collectively ate away at returns. Some were losers, yes, but many were winners that weren’t sized large enough to make a real difference in the portfolio. Top performing funds owned winners in size; lesser funds were involved as well, but only in a small way.\nNo prizes for guessing why that happened: conviction.Mediocre funds had enough of an investment process to unearth good ideas, but not enough to size them correctly. They weren’t willing to make a larger bet because they knew they would not be able to patiently sit out any volatility that might arise if it were 5 percent of the portfolio rather than 0.5 percent.\nTakeaway: conviction and sizing are what separated Steve, and every other great investor I’ve ever met, from the merely “very good”. It’s not enough to find ideas that work. The real magic is in making them count.\n#2: Use whatever mental hacks you need to foster patience.\nSteve’s was getting off the desk for an hour. Other highly successful investors I’ve met over the years literally turned off their screens or took a symbol off their monitors.\nThis is not to say one can just blindly buy an asset and hold it whatever comes. Productive patience means following many rules. A few of my personal favorites:\n\nDon’t buy new lows.\nDon’t short new highs.\nAlways scale in and out of positions.\nSet stop losses where you re-evaluate your point of view.\nAlways look for new ideas.\nAdmit when you’re wrong and move on.\n\nTakeaway: the story about Steve on Fed Day is not meant to celebrate blind patience, but rather to show how patience fits in the context of a broader, disciplined approach.If Steve had been wrong on that day, he would have still stuck to his process the next day and the day after that. No one has a 100 percent hit rate in this business.\nFinal thought: the ability to be patient is, in the end, always a function of conviction and environment. Since we have little control over environment, especially with capital markets, the only effective way to cultivate patience is to build and follow a process that increases conviction in the context of prevailing circumstances.\nIronically, low volatility markets such as what we have now demand more patience and conviction than when prices are choppier. Even a 1 percent position in a spicy name can meaningfully help portfolio returns when the VIX is at 40. But when the VIX is below 20 (today’s close was 18), it’s an entirely different game. The current environment demands a focused investment approach, not a scattershot one.\nYes, this is hard, but as Steve said, “That’s how you do it”.","news_type":1,"symbols_score_info":{".DJI":0.9,".IXIC":0.9,".SPX":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":794,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160434707,"gmtCreate":1623804042009,"gmtModify":1634027974125,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls 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comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/187060143","repostId":"2143178756","repostType":4,"isVote":1,"tweetType":1,"viewCount":111,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185981401,"gmtCreate":1623630560903,"gmtModify":1634031038353,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/185981401","repostId":"2143785764","repostType":4,"isVote":1,"tweetType":1,"viewCount":98,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185983540,"gmtCreate":1623630535680,"gmtModify":1634031039213,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/185983540","repostId":"1146430910","repostType":4,"isVote":1,"tweetType":1,"viewCount":305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183426994,"gmtCreate":1623342726518,"gmtModify":1634034349735,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/183426994","repostId":"1107871315","repostType":4,"isVote":1,"tweetType":1,"viewCount":216,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167659516,"gmtCreate":1624266821735,"gmtModify":1634008679872,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167659516","repostId":"1107200738","repostType":4,"repost":{"id":"1107200738","kind":"news","pubTimestamp":1624266640,"share":"https://www.laohu8.com/m/news/1107200738?lang=&edition=full","pubTime":"2021-06-21 17:10","market":"us","language":"en","title":"Twilio: Investors Need To Give It Time To Scale Up And Be Profitable","url":"https://stock-news.laohu8.com/highlight/detail?id=1107200738","media":"seekingalpha","summary":"Summary\n\nTwilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and","content":"<p><b>Summary</b></p>\n<ul>\n <li>Twilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and it would fizzle out when reopening takes centre stage.</li>\n <li>Meanwhile, the company has continued to build on its strength through numerous key acquisitions, among which the Segment deal stood out as the most important.</li>\n <li>As a result of third-party cookies deprecation, companies would likely need Twilio even more moving forward.</li>\n <li>At its current valuations and its high DBNER of 133%, investors should take advantage of the recent price weakness to gain access to Twilio now.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/615c999acf1acd79840514a42f3c4521\" tg-width=\"768\" tg-height=\"512\"><span>Drew Angerer/Getty Images</span></p>\n<p><b>NewsInvestment Thesis</b></p>\n<p>Many investors have misunderstood Twilio’s (TWLO) business model due to its unprofitability even as it delivered industry leading revenue growth metrics. While it may have yet to be EBIT profitable, the company is setting itself up to be the CPaaS leader with a top notch customer engagement platform, following its acquisition of the No.1 Customer Data Platform [CDP] in the world: Segment. Investors should understand by now that the secular tailwinds driving digitisation are not going to reverse, and therefore TWLO is in a prime position to benefit as the platform for the world on their customer engagement needs. Add on the impending deprecation of third-party cookies, companies would likely find TWLO even more important in their customer engagement efforts moving forward. At its current valuation, investors should find that TWLO may actually be valued at a discount to many of the stocks listed in the SaaS space.</p>\n<p><b>Twilio is Not your Typical SaaS Stock</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/aec3449de8bbaa50dabd8b4343c41583\" tg-width=\"600\" tg-height=\"371\"><span>DBNER. Data source: Company filings</span></p>\n<p>Twilio’s value proposition as a CPaaS is unlike the typical SaaS company that makes the most of its revenue through recurring subscriptions, and increase or maintain their DBNER or DBNRR by cross-selling into other products or up-selling their customers by taking on more seats. TWLO’s revenue is mainly based on usage. Therefore the company makes more revenue when customers use its platform more, and make less when customers use it less. Therefore, because it’s based on usage we could easily determine the strength of its customers' usage simply by observing its DBNER trend.TWLO’s DBNER&nbsp;“increases when such Active Customer Accounts increase their usage of a product, extend their usage of a product to new applications or adopt a new product. Twilio’s Dollar-Based Net Expansion Rate decreases when such Active Customer Accounts cease or reduce their usage of a product or when the Company lowers usage prices on a product.”</p>\n<p>Therefore, we could clearly observe from TWLO’s strong DBNER trend that its customers have been consistently increasing their net usage of its platform over the years, which actually already begun before COVID-19 hit. TWLO’s DBNER has been largely consistent as well and the company was also confident of achieving a&nbsp;normalized DBNER in the range of 130s&nbsp;moving forward.</p>\n<p>Moreover, the company has also highlighted that it continued to see increased use cases in its platform in many industries, and in particular in telehealth, which is another market that has been wrongly perceived to be only a COVID-19 phenomenon that has no sustainability. We have previously covered in a&nbsp;recent article on Teladoc&nbsp;(TDOC) on why telehealth’s rapid growth has begun well before the pandemic hit and is still very early in its growth phase as the market is expected to grow by more than 20% CAGR over the next 10 years. Therefore the secular tailwinds that are driving digitisation across many different industries would also drive increased business to TWLO as the market’s leading cloud communications and customer engagement platform.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/32ecc737bf53e45f2b6a58e0d2121279\" tg-width=\"1280\" tg-height=\"384\"><span>SaaS DBNER/DBNRR. Source: Atom Finance</span></p>\n<p>This is especially so when we look across the SaaS space. Investors would be hard-pressed to find many companies that boast a NRR that has been consistently above 130% like TWLO (median: 120%). Another company that also uses&nbsp;usage-based pricing: Snowflake&nbsp;(SNOW) had a NRR of 168% in the latest quarter. Investors may think that these companies that adopt usage-based pricing may suffer if their customers drop off their usage rates drastically. However, TWLO and SNOW have both proven that their platforms are so sticky and offer so much value that once you are on it, you would keep using it more and more over time, and also expand usage into new products. Therefore, this usage-based pricing model has an inherently powerful booster to the company’s topline as use-cases kept increasing, something that a typical subscription-based ARR model may not be able to replicate without a usage-based model.</p>\n<p><b>Market Truly Underestimated Segment's Acquisition</b></p>\n<p>In our opinion, we think the market really underplayed Segment’s acquisition for TWLO. First, Segment is the&nbsp;No.1 CDP worldwide&nbsp;ranked by IDC, so we think TWLO has done an amazing deal there. In fact, the company emphasized how important they thought the acquisition meant to them (emphasis by us):</p>\n<blockquote>\n We think the&nbsp;\n <b>industrial logic of Segment plus Twilio is just a -- it's not just a home run.It's a grand slam</b>. I think for us, having data capabilities married with communications capabilities is absolutely essential to deliver that rich customer experience.\n</blockquote>\n<p>Notwithstanding the&nbsp;significant dilution&nbsp;funded from the mostly equity deal, I think investors should understand the strategic importance of having the best-of-breed CDP in its portfolio, which is crucially important to TWLO’s underlying CPaaS offering as it now confers its customers the access to real-time analytics with a unified view across disparate systems.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7bfb70f9acdfe008ff26825a2894a4c7\" tg-width=\"879\" tg-height=\"544\"><span>Level of impact of CDP on success metrics. Data source: Advertiser Perceptions; Treasure Data</span></p>\n<p>We could observe from the above survey conducted with marketers across different industries on the profound impact of having a CDP in their marketing KPIs. The large majority of the respondents noted an improvement across all the metrics listed in this survey with a remarkably high percentage of the respondents (33% to 45%) indicating “significant improvement” in the respective categories.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5b908f65bb3623fd3ba2b147e803f8e7\" tg-width=\"841\" tg-height=\"520\"><span>Benefits of CDP according to marketing technology decision makers. Data source: Advertiser Perceptions; UniFida</span></p>\n<p>In addition, 49% of the respondents also indicated that the CDP allowed them to unify data across multiple sources, which they regarded as the most important benefit. Twilio also highlighted the importance of this as it added that “consumers are no longer tied to just one form of communication, and they expect companies to pull together disparate interactions to deliver increasingly personalized content based on what they’re doing -- anytime, anywhere, and over their preferred channels.”</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ebc20b41946569e8afa10fb1ef39a90f\" tg-width=\"1262\" tg-height=\"768\"><span>Measures undertaken by marketers from the U.S. to counter the impact of the deprecation of third-party cookies. Data source: Epsilon; Adweek; Phronesis Partners</span></p>\n<p>Moreover, with the impending deprecation of third-party cookies, marketers have been looking for ways to cushion the impact of this loss, and the majority of them (67.3%) have been building a CDP. CDPs primarily collects and use&nbsp;first-party data, which is really the most important sources of customer data as it offers the most accurate and actionable insights, and also the one that is&nbsp;least vulnerable to privacy regulations, a point that was also acknowledged by TWLO when asked whether TWLO saw any tailwind on privacy regulations due to its first-party data access, of which the company replied:</p>\n<blockquote>\n 100%. I think you hit the nail on that actually and effectively answered your own question. I think they're very much on the right side of this. I mean they are very, very strong data stewards. They're kind of a privacy-first company. I think even in the EU, some of the trends in geodynamics also play in their favor. And so I do think data and data regulations is a potential tailwind for them, yes.\n</blockquote>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34f2d9eb714512b81b6ae70b957a82d4\" tg-width=\"600\" tg-height=\"371\"><span>Share of organizations collaborating with others to share first-party data in the U.S. Data source: Winterberry Group; LiveRamp</span></p>\n<p>In order to further underscore the importance of first-party data, we could see that 64.3% of companies had collaborative arrangements to share first-party data while 16.7% had plans to do so. In a post-cookie world, I believe organizations would even need to be more proactive in its data gathering and analytics efforts, and having a CDP like Segment to help in this would be absolutely critical.</p>\n<p><b>Yes, We Know That The Company Is Still Unprofitable</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3be2871e7911997921fe11150b8d0e30\" tg-width=\"1280\" tg-height=\"734\"><span>EBIT margin, SG&amp;A margin, R&amp;D margin. Data source: S&amp;P Capital IQ</span></p>\n<p>Nevertheless, investors should be reminded that TWLO has yet to turn an operating profit, even though the company has guided to a long term operating margin of 28% over time. Investors should understand that TWLO would also not be expected to turn an operating profit anytime soon as the company is still in a heavy investment mode (as seen in its high SG&amp;A and R&amp;D margins) as it sees a lot of opportunities to invest and also possibly acquire, where it had made a number of high profile acquisitions such as Segment, ValueFirst, Syniverse, Zipwhip among others. The company strongly emphasized this point:</p>\n<blockquote>\n But that doesn't mean that we won't be profitable, can't be profitable. I mean, we're growing at very elevated levels, certainly better than our corporate average, if you will. It's just that the rest of our business is growing really fast, right? So for it to really show up in our financials, based on our current trajectory, something else would have to slow down, which is not what we want. It's not what you want. It's not what anybody wants really, right? So I think in due course, all these things will happen.\n</blockquote>\n<p>Therefore, TWLO investors are asked to demonstrate lots of patience, give time for TWLO to grow into its profitability and allow them to continue scaling up its revenue growth first. Consensus estimates see the company continuing to grow rapidly at about 44.5% YoY for FY 21 and also above 30% YoY subsequently. TWLO has also committed to grow its revenue above 30% for the next four years, so investors need to give TWLO time to deliver the goods, and this stock is therefore not for short term investors who are looking for a 2 to 3 year horizon, or a company that is prioritizing profitability over growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1059052c9408212d41ace9bed94cdd4a\" tg-width=\"1280\" tg-height=\"698\"><span>Revenue metrics. Data source: S&amp;P Capital IQ</span></p>\n<p><b>Valuations</b></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dbd552d195006ab4d2b5bb01567a6fdf\" tg-width=\"1280\" tg-height=\"590\"><span>SaaS EV / 2021 Rev.</span></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/77dea7178c4b94d74a75bc24aab22561\" tg-width=\"1280\" tg-height=\"701\"><span>TWLO EV / Fwd Rev. Data source: S&amp;P Capital IQ</span></p>\n<p>When we consider TWLO’s EV / FY+1 multiple of 20.6x against the SaaS median of 26.3x, it may be reasonably argued that TWLO doesn’t look expensive. It’s also important to note that TWLO is also expected to grow rapidly where we expect to see its multiple fall significantly over time (assuming its EV stays constant, which of course will unlikely to be the case if TWLO continues to deliver its high growth strategies). We are pretty sure that there are many more companies within the SaaS space that are valued at a much higher premium and yet with a slower expected revenue growth profile.</p>\n<p><b>Price Action and Technical Analysis</b></p>\n<p><img src=\"https://static.tigerbbs.com/f626c7ad165f68d36e614c8163606c2f\" tg-width=\"1280\" tg-height=\"838\" referrerpolicy=\"no-referrer\"></p>\n<p>We think that TWLO has a generally strong long term uptrend bias that was only interrupted once by the COVID-19 bear market over the last 3 years. The price recently found support along the 50W moving average at around $300 and the price has since gradually continued to recover from its recent slump.</p>\n<p>Although we would prefer to add more positions near the $300 support level, we don’t think the current price level is expensive either, and think that investors may consider initiating or adding on to their positions at the current price level. They should however avoid adding near the $405 level as we believe that there should be near term resistance at that level. In addition, for investors who would prefer somewhat of a slight bargain, you may wait till the next retracement to test the 50W support again, of which a $320 level to add is also possible.</p>\n<p><b>Wrapping It All Up</b></p>\n<p>Twilio is a very high growth stock that has made revenue growth its most important priority right now as it sees tremendous growth opportunities ahead. Investors are asked to give TWLO time to grow into its expected long term profitability as the company sets itself up to be the leading player in the cloud communications and customer engagement space for companies across multiple industries.</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>Twilio: Investors Need To Give It Time To Scale Up And Be Profitable</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\nTwilio: Investors Need To Give It Time To Scale Up And Be Profitable\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 17:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4435794-twilio-investors-need-give-time-for-scale-up-and-profitable><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTwilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and it would fizzle out when reopening takes centre stage.\nMeanwhile, the company has continued to ...</p>\n\n<a href=\"https://seekingalpha.com/article/4435794-twilio-investors-need-give-time-for-scale-up-and-profitable\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWLO":"Twilio Inc"},"source_url":"https://seekingalpha.com/article/4435794-twilio-investors-need-give-time-for-scale-up-and-profitable","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107200738","content_text":"Summary\n\nTwilio has been misunderstood as a stock that benefited only from the COVID-19 tailwind and it would fizzle out when reopening takes centre stage.\nMeanwhile, the company has continued to build on its strength through numerous key acquisitions, among which the Segment deal stood out as the most important.\nAs a result of third-party cookies deprecation, companies would likely need Twilio even more moving forward.\nAt its current valuations and its high DBNER of 133%, investors should take advantage of the recent price weakness to gain access to Twilio now.\n\nDrew Angerer/Getty Images\nNewsInvestment Thesis\nMany investors have misunderstood Twilio’s (TWLO) business model due to its unprofitability even as it delivered industry leading revenue growth metrics. While it may have yet to be EBIT profitable, the company is setting itself up to be the CPaaS leader with a top notch customer engagement platform, following its acquisition of the No.1 Customer Data Platform [CDP] in the world: Segment. Investors should understand by now that the secular tailwinds driving digitisation are not going to reverse, and therefore TWLO is in a prime position to benefit as the platform for the world on their customer engagement needs. Add on the impending deprecation of third-party cookies, companies would likely find TWLO even more important in their customer engagement efforts moving forward. At its current valuation, investors should find that TWLO may actually be valued at a discount to many of the stocks listed in the SaaS space.\nTwilio is Not your Typical SaaS Stock\nDBNER. Data source: Company filings\nTwilio’s value proposition as a CPaaS is unlike the typical SaaS company that makes the most of its revenue through recurring subscriptions, and increase or maintain their DBNER or DBNRR by cross-selling into other products or up-selling their customers by taking on more seats. TWLO’s revenue is mainly based on usage. Therefore the company makes more revenue when customers use its platform more, and make less when customers use it less. Therefore, because it’s based on usage we could easily determine the strength of its customers' usage simply by observing its DBNER trend.TWLO’s DBNER “increases when such Active Customer Accounts increase their usage of a product, extend their usage of a product to new applications or adopt a new product. Twilio’s Dollar-Based Net Expansion Rate decreases when such Active Customer Accounts cease or reduce their usage of a product or when the Company lowers usage prices on a product.”\nTherefore, we could clearly observe from TWLO’s strong DBNER trend that its customers have been consistently increasing their net usage of its platform over the years, which actually already begun before COVID-19 hit. TWLO’s DBNER has been largely consistent as well and the company was also confident of achieving a normalized DBNER in the range of 130s moving forward.\nMoreover, the company has also highlighted that it continued to see increased use cases in its platform in many industries, and in particular in telehealth, which is another market that has been wrongly perceived to be only a COVID-19 phenomenon that has no sustainability. We have previously covered in a recent article on Teladoc (TDOC) on why telehealth’s rapid growth has begun well before the pandemic hit and is still very early in its growth phase as the market is expected to grow by more than 20% CAGR over the next 10 years. Therefore the secular tailwinds that are driving digitisation across many different industries would also drive increased business to TWLO as the market’s leading cloud communications and customer engagement platform.\nSaaS DBNER/DBNRR. Source: Atom Finance\nThis is especially so when we look across the SaaS space. Investors would be hard-pressed to find many companies that boast a NRR that has been consistently above 130% like TWLO (median: 120%). Another company that also uses usage-based pricing: Snowflake (SNOW) had a NRR of 168% in the latest quarter. Investors may think that these companies that adopt usage-based pricing may suffer if their customers drop off their usage rates drastically. However, TWLO and SNOW have both proven that their platforms are so sticky and offer so much value that once you are on it, you would keep using it more and more over time, and also expand usage into new products. Therefore, this usage-based pricing model has an inherently powerful booster to the company’s topline as use-cases kept increasing, something that a typical subscription-based ARR model may not be able to replicate without a usage-based model.\nMarket Truly Underestimated Segment's Acquisition\nIn our opinion, we think the market really underplayed Segment’s acquisition for TWLO. First, Segment is the No.1 CDP worldwide ranked by IDC, so we think TWLO has done an amazing deal there. In fact, the company emphasized how important they thought the acquisition meant to them (emphasis by us):\n\n We think the \n industrial logic of Segment plus Twilio is just a -- it's not just a home run.It's a grand slam. I think for us, having data capabilities married with communications capabilities is absolutely essential to deliver that rich customer experience.\n\nNotwithstanding the significant dilution funded from the mostly equity deal, I think investors should understand the strategic importance of having the best-of-breed CDP in its portfolio, which is crucially important to TWLO’s underlying CPaaS offering as it now confers its customers the access to real-time analytics with a unified view across disparate systems.\nLevel of impact of CDP on success metrics. Data source: Advertiser Perceptions; Treasure Data\nWe could observe from the above survey conducted with marketers across different industries on the profound impact of having a CDP in their marketing KPIs. The large majority of the respondents noted an improvement across all the metrics listed in this survey with a remarkably high percentage of the respondents (33% to 45%) indicating “significant improvement” in the respective categories.\nBenefits of CDP according to marketing technology decision makers. Data source: Advertiser Perceptions; UniFida\nIn addition, 49% of the respondents also indicated that the CDP allowed them to unify data across multiple sources, which they regarded as the most important benefit. Twilio also highlighted the importance of this as it added that “consumers are no longer tied to just one form of communication, and they expect companies to pull together disparate interactions to deliver increasingly personalized content based on what they’re doing -- anytime, anywhere, and over their preferred channels.”\nMeasures undertaken by marketers from the U.S. to counter the impact of the deprecation of third-party cookies. Data source: Epsilon; Adweek; Phronesis Partners\nMoreover, with the impending deprecation of third-party cookies, marketers have been looking for ways to cushion the impact of this loss, and the majority of them (67.3%) have been building a CDP. CDPs primarily collects and use first-party data, which is really the most important sources of customer data as it offers the most accurate and actionable insights, and also the one that is least vulnerable to privacy regulations, a point that was also acknowledged by TWLO when asked whether TWLO saw any tailwind on privacy regulations due to its first-party data access, of which the company replied:\n\n 100%. I think you hit the nail on that actually and effectively answered your own question. I think they're very much on the right side of this. I mean they are very, very strong data stewards. They're kind of a privacy-first company. I think even in the EU, some of the trends in geodynamics also play in their favor. And so I do think data and data regulations is a potential tailwind for them, yes.\n\nShare of organizations collaborating with others to share first-party data in the U.S. Data source: Winterberry Group; LiveRamp\nIn order to further underscore the importance of first-party data, we could see that 64.3% of companies had collaborative arrangements to share first-party data while 16.7% had plans to do so. In a post-cookie world, I believe organizations would even need to be more proactive in its data gathering and analytics efforts, and having a CDP like Segment to help in this would be absolutely critical.\nYes, We Know That The Company Is Still Unprofitable\nEBIT margin, SG&A margin, R&D margin. Data source: S&P Capital IQ\nNevertheless, investors should be reminded that TWLO has yet to turn an operating profit, even though the company has guided to a long term operating margin of 28% over time. Investors should understand that TWLO would also not be expected to turn an operating profit anytime soon as the company is still in a heavy investment mode (as seen in its high SG&A and R&D margins) as it sees a lot of opportunities to invest and also possibly acquire, where it had made a number of high profile acquisitions such as Segment, ValueFirst, Syniverse, Zipwhip among others. The company strongly emphasized this point:\n\n But that doesn't mean that we won't be profitable, can't be profitable. I mean, we're growing at very elevated levels, certainly better than our corporate average, if you will. It's just that the rest of our business is growing really fast, right? So for it to really show up in our financials, based on our current trajectory, something else would have to slow down, which is not what we want. It's not what you want. It's not what anybody wants really, right? So I think in due course, all these things will happen.\n\nTherefore, TWLO investors are asked to demonstrate lots of patience, give time for TWLO to grow into its profitability and allow them to continue scaling up its revenue growth first. Consensus estimates see the company continuing to grow rapidly at about 44.5% YoY for FY 21 and also above 30% YoY subsequently. TWLO has also committed to grow its revenue above 30% for the next four years, so investors need to give TWLO time to deliver the goods, and this stock is therefore not for short term investors who are looking for a 2 to 3 year horizon, or a company that is prioritizing profitability over growth.\nRevenue metrics. Data source: S&P Capital IQ\nValuations\nSaaS EV / 2021 Rev.\nTWLO EV / Fwd Rev. Data source: S&P Capital IQ\nWhen we consider TWLO’s EV / FY+1 multiple of 20.6x against the SaaS median of 26.3x, it may be reasonably argued that TWLO doesn’t look expensive. It’s also important to note that TWLO is also expected to grow rapidly where we expect to see its multiple fall significantly over time (assuming its EV stays constant, which of course will unlikely to be the case if TWLO continues to deliver its high growth strategies). We are pretty sure that there are many more companies within the SaaS space that are valued at a much higher premium and yet with a slower expected revenue growth profile.\nPrice Action and Technical Analysis\n\nWe think that TWLO has a generally strong long term uptrend bias that was only interrupted once by the COVID-19 bear market over the last 3 years. The price recently found support along the 50W moving average at around $300 and the price has since gradually continued to recover from its recent slump.\nAlthough we would prefer to add more positions near the $300 support level, we don’t think the current price level is expensive either, and think that investors may consider initiating or adding on to their positions at the current price level. They should however avoid adding near the $405 level as we believe that there should be near term resistance at that level. In addition, for investors who would prefer somewhat of a slight bargain, you may wait till the next retracement to test the 50W support again, of which a $320 level to add is also possible.\nWrapping It All Up\nTwilio is a very high growth stock that has made revenue growth its most important priority right now as it sees tremendous growth opportunities ahead. Investors are asked to give TWLO time to grow into its expected long term profitability as the company sets itself up to be the leading player in the cloud communications and customer engagement space for companies across multiple industries.","news_type":1,"symbols_score_info":{"TWLO":0.9}},"isVote":1,"tweetType":1,"viewCount":233,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":185986948,"gmtCreate":1623630586684,"gmtModify":1634031037197,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/185986948","repostId":"2143785622","repostType":4,"isVote":1,"tweetType":1,"viewCount":201,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":161005349,"gmtCreate":1623895324881,"gmtModify":1634026232015,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like","listText":"Pls like","text":"Pls like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/161005349","repostId":"1112736173","repostType":4,"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":186297826,"gmtCreate":1623499882965,"gmtModify":1634032337998,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/186297826","repostId":"2142204074","repostType":4,"isVote":1,"tweetType":1,"viewCount":106,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167653480,"gmtCreate":1624266870040,"gmtModify":1634008679035,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167653480","repostId":"2145086044","repostType":4,"repost":{"id":"2145086044","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1624263746,"share":"https://www.laohu8.com/m/news/2145086044?lang=&edition=full","pubTime":"2021-06-21 16:22","market":"hk","language":"en","title":"5 Stocks To Watch For June 21, 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2145086044","media":"Benzinga","summary":"Some of the stocks that may grab investor focus today are:","content":"<p>Some of the stocks that may grab investor focus today are:</p>\n<ul>\n <li><b>Amazon.com, Inc. </b> (NASDAQ:AMZN) will remain in focus with the company’s two-day Prime shopping event beginning today. Amazon Prime Day was first observed on July 15, 2015, in celebration of the company’s 20th anniversary. Amazon shares slipped 0.1% to settle at $3,486.90 on Friday.</li>\n <li><b>Pfizer Inc </b>(NYSE:PFE) COVID-19 vaccine received provisional approval for use in the age group 12 to 15 from New Zealand's medical regulator, Stuff reported. Pfizer shares fell 0.3% to close at $38.70 on Friday.</li>\n <li><b>Orphazyme A S ADR </b>(NASDAQ:ORPH) shares dipped around 50% on Friday after the company announced it received a Complete Response Letter from the FDA for its treatment for Niemann-Pick Disease Type C and also cut its FY2021 outlook. Orphazyme shares tumbled 49.7% to close at $7.33 on Friday.</li>\n <li><b>Globus Maritime Ltd </b>(NASDAQ:GLBS) reported total comprehensive loss of $0.8 million for the first quarter, compared to $9 million loss in the year-ago period. Its voyage revenues surged to $5.2 million from $2.3 million. Globus Maritime shares gained 0.8% to close at $5.06 on Friday.</li>\n <li><b>Beigene Ltd </b>(NASDAQ:BGNE) disclosed that BRUKINSA received an approval from the China National Medical Products Administration for the treatment of adult patients with relapsed or refractory Waldenström’s macroglobulinemia. Beigene shares dropped 2.2% to settle at $321.81 on Friday.</li>\n</ul>","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>5 Stocks To Watch For June 21, 2021</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: 11px; color: #7E829C; margin: 0;line-height: 11px;}\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\">\n5 Stocks To Watch For June 21, 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-06-21 16:22</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p>\n<ul>\n <li><b>Amazon.com, Inc. </b> (NASDAQ:AMZN) will remain in focus with the company’s two-day Prime shopping event beginning today. Amazon Prime Day was first observed on July 15, 2015, in celebration of the company’s 20th anniversary. Amazon shares slipped 0.1% to settle at $3,486.90 on Friday.</li>\n <li><b>Pfizer Inc </b>(NYSE:PFE) COVID-19 vaccine received provisional approval for use in the age group 12 to 15 from New Zealand's medical regulator, Stuff reported. Pfizer shares fell 0.3% to close at $38.70 on Friday.</li>\n <li><b>Orphazyme A S ADR </b>(NASDAQ:ORPH) shares dipped around 50% on Friday after the company announced it received a Complete Response Letter from the FDA for its treatment for Niemann-Pick Disease Type C and also cut its FY2021 outlook. Orphazyme shares tumbled 49.7% to close at $7.33 on Friday.</li>\n <li><b>Globus Maritime Ltd </b>(NASDAQ:GLBS) reported total comprehensive loss of $0.8 million for the first quarter, compared to $9 million loss in the year-ago period. Its voyage revenues surged to $5.2 million from $2.3 million. Globus Maritime shares gained 0.8% to close at $5.06 on Friday.</li>\n <li><b>Beigene Ltd </b>(NASDAQ:BGNE) disclosed that BRUKINSA received an approval from the China National Medical Products Administration for the treatment of adult patients with relapsed or refractory Waldenström’s macroglobulinemia. Beigene shares dropped 2.2% to settle at $321.81 on Friday.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03086":"华夏纳指","QNETCN":"纳斯达克中美互联网老虎指数","AMZN":"亚马逊","GLBS":"Globus Maritime Limited","PFE":"辉瑞","09086":"华夏纳指-U"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145086044","content_text":"Some of the stocks that may grab investor focus today are:\n\nAmazon.com, Inc.  (NASDAQ:AMZN) will remain in focus with the company’s two-day Prime shopping event beginning today. Amazon Prime Day was first observed on July 15, 2015, in celebration of the company’s 20th anniversary. Amazon shares slipped 0.1% to settle at $3,486.90 on Friday.\nPfizer Inc (NYSE:PFE) COVID-19 vaccine received provisional approval for use in the age group 12 to 15 from New Zealand's medical regulator, Stuff reported. Pfizer shares fell 0.3% to close at $38.70 on Friday.\nOrphazyme A S ADR (NASDAQ:ORPH) shares dipped around 50% on Friday after the company announced it received a Complete Response Letter from the FDA for its treatment for Niemann-Pick Disease Type C and also cut its FY2021 outlook. Orphazyme shares tumbled 49.7% to close at $7.33 on Friday.\nGlobus Maritime Ltd (NASDAQ:GLBS) reported total comprehensive loss of $0.8 million for the first quarter, compared to $9 million loss in the year-ago period. Its voyage revenues surged to $5.2 million from $2.3 million. Globus Maritime shares gained 0.8% to close at $5.06 on Friday.\nBeigene Ltd (NASDAQ:BGNE) disclosed that BRUKINSA received an approval from the China National Medical Products Administration for the treatment of adult patients with relapsed or refractory Waldenström’s macroglobulinemia. Beigene shares dropped 2.2% to settle at $321.81 on Friday.","news_type":1,"symbols_score_info":{"03086":0.9,"09086":0.9,"AMZN":0.9,"BGNE":0.9,"GLBS":0.9,"ORPH":0.9,"PFE":0.9,"QNETCN":0.9}},"isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167653871,"gmtCreate":1624266853793,"gmtModify":1634008679281,"author":{"id":"3586331180219782","authorId":"3586331180219782","name":"cl1689","avatar":"https://static.tigerbbs.com/636fa6ba9943341efa89c9aee3be1a5b","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3586331180219782","authorIdStr":"3586331180219782"},"themes":[],"htmlText":"Pls like n comment","listText":"Pls like n comment","text":"Pls like n comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/167653871","repostId":"1158262499","repostType":4,"isVote":1,"tweetType":1,"viewCount":1467,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}