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2021-08-11

Yay it climbed

2021-08-10

Waiting for the climb!

2021-07-15

$Citius Pharmaceuticals, Inc.(CTXR)$did yall buy the dip? I did!

2021-07-15

Good information! Thanks

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2021-07-14

$Citius Pharmaceuticals, Inc.(CTXR)$are you gonna buy the dip?

2021-07-13

$Citius Pharmaceuticals, Inc.(CTXR)$lets gooo, i bought more

2021-07-12

Cool!

Authentic Brands IPO: AUTH May Be Valued at $10 Billion

2021-07-12

Excitedddd for space!

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2021-07-12

Exciting to watch!

2021-07-11

Yesssss great news

The Meme Stock Trade Is Far From Over. What Investors Need to Know.

2021-07-11

$Citius Pharmaceuticals, Inc.(CTXR)$waiting!

2021-07-09

$Iterum Therapeutics Plc(ITRM)$waiting for the climb!

2021-07-08

Time to buy the dip?

2021-07-07

$Sundial Growers Inc.(SNDL)$looking for some fresh bucks

2021-07-06

$Iterum Therapeutics Plc(ITRM)$lets goooo

2021-07-05

$Iterum Therapeutics Plc(ITRM)$primed for the climb

2021-07-04

$Citius Pharmaceuticals, Inc.(CTXR)$worried? Whats that

2021-07-01

$Citius Pharmaceuticals, Inc.(CTXR)$still waiting for the climb, not worried

2021-06-29

Tell me more

Bed Bath & Beyond Is Set to Report Earnings on Wednesday. What to Know.

2021-06-29

Interesting

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Thanks","text":"Good information! Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/147070468","repostId":"2151751740","repostType":4,"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":144020952,"gmtCreate":1626254725476,"gmtModify":1631888768628,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>are you gonna buy the dip?&nbsp;","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>are you gonna buy the dip?&nbsp;","text":"$Citius Pharmaceuticals, Inc.(CTXR)$are you gonna buy the dip?","images":[{"img":"https://static.tigerbbs.com/1dbeafd96e4571c5f1432da3729982fa","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/144020952","isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":145026468,"gmtCreate":1626183970054,"gmtModify":1631888768627,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>lets gooo, i bought more","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>lets gooo, i bought more","text":"$Citius Pharmaceuticals, Inc.(CTXR)$lets gooo, i bought more","images":[{"img":"https://static.tigerbbs.com/b8548d08d9034db3bdee1004013c020a","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/145026468","isVote":1,"tweetType":1,"viewCount":247,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":146628015,"gmtCreate":1626077654037,"gmtModify":1631891051903,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/146628015","repostId":"2150267773","repostType":4,"repost":{"id":"2150267773","kind":"news","pubTimestamp":1626076380,"share":"https://www.laohu8.com/m/news/2150267773?lang=&edition=full","pubTime":"2021-07-12 15:53","market":"us","language":"en","title":"Authentic Brands IPO: AUTH May Be Valued at $10 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2150267773","media":"Investopedia","summary":"Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddi","content":"<p>Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, Aeropostale, Lucky Brand, Barneys New York, and Juicy Couture. As a result, Authentic Brands has become <a href=\"https://laohu8.com/S/AONE\">one</a> of the biggest operators of brick-and-mortar stores during a period of increasing online sales. The company also holds licenses to more than 30 brands, such as Sports Illustrated and Marilyn Monroe. The upshot is that Authentic Brands derives most of its sales revenue from licensing fees.</p>\n<h3>Key Takeaways</h3>\n<ul>\n <li>Authentic Brands owns several retailers, including JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, and Aeropostale.</li>\n <li>Authentic Brands also owns the license to more than 30 brands.</li>\n <li>Authentic Brands will go public in an IPO that may value the company at $10 billion.</li>\n <li>Authentic Brands reported total revenue of $489 million and net income of $225 million in 2020.</li>\n</ul>\n<p>Authentic Brands, which is headquartered in New York, was founded in 2010 by Toronto-based Jamie Salter, who serves as its chairman and CEO. Salter's four sons also are employed by Authentic Brands, including Corey Salter who serves as its chief operating officer (COO).</p>\n<p>Jamie Salter previously was CEO of Hilco Consumer Capital (HCC), which took brands such as instant photography pioneer Polaroid and specialty retailer Sharper Image out of bankruptcy. Hilco describes itself as: \"a leading private equity firm that makes strategic investments in consumer product retailers, wholesalers, manufacturers and intellectual property. Our core focus is on North American companies with strong consumer brands.\"</p>\n<p>The preliminary prospectus filed by Authentic Brands for its IPO does not specify an anticipated offering price or date for the shares, nor does it place a valuation on the company. However, it is known that the offering will include two share classes, with class A shares being sold to the general public and class B shares, which will have greater voting rights, being issued to Jamie Salter and his key associates.</p>\n<p>While the preliminary prospectus indicates that the IPO is expected to raise $100 million, this is widely viewed as merely a placeholder amount that is expected to change significantly. Bloomberg estimates that Authentic Brands actually could be worth about $10 billion when its IPO finally comes to market, roughly double an estimated valuation of $4 billion to $5 billion in 2019.</p>\n<h2>Authentic Brands Company Financials</h2>\n<p>The table below presents key financial data for Authentic Brands, for the most recent reported year, with comparisons to the prior year.</p>\n<table>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <thead>\n  <tr>\n   <th colspan=\"3\">Authentic Brands Key Financials: Most Recent Years</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>Metric</td>\n   <td>Full Year 2020</td>\n   <td>Full Year 2019</td>\n  </tr>\n  <tr>\n   <td>Total Revenue</td>\n   <td>$488.9 million</td>\n   <td>$480.4 million</td>\n  </tr>\n  <tr>\n   <td>Net Income</td>\n   <td>$225.3 million</td>\n   <td>$96.5 million</td>\n  </tr>\n  <tr>\n   <td>Licensing Revenue</td>\n   <td>$471.3 million</td>\n   <td>$469.3 million</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: Authentic Brands S-1 Filing</p>\n<p>The results for full year 2019 included a realized loss on investments of $93.9 million, whereas the company reported a gain of $0.7 million in 2020. The table below presents the same key financial data as shown above, but for the most recent reported quarter, with comparisons to the same quarter in the previous year.</p>\n<table>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <thead>\n  <tr>\n   <th colspan=\"3\">Authentic Brands Key Financials: Most Recent Quarter</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>Metric</td>\n   <td>Q1 2021</td>\n   <td>Q1 2020</td>\n  </tr>\n  <tr>\n   <td>Total Revenue</td>\n   <td>$160.1 million</td>\n   <td>$120.5 million</td>\n  </tr>\n  <tr>\n   <td>Net Income</td>\n   <td>$294.9 million</td>\n   <td>$60.8 million</td>\n  </tr>\n  <tr>\n   <td>Licensing Revenue</td>\n   <td>$153.3 million</td>\n   <td>$117.4 million</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: Authentic Brands S-1 Filing</p>\n<p>Net income for Q1 2021 included $201.0 million of equity in net income of investments accounted for under the equity method. In Q1 2020, this figure was a loss of $35.9 million.</p>\n<p>Among the key achievements cited by management for the period from 2016 through 2020 were an increase in revenue from $165 million to $489 million, representing a CAGR of 31%. Meanwhile, net income attributable to Authentic Brands Group grew from $45 million to $211 million, for a CAGR of 47%.</p>\n<h2>Additional Company Details</h2>\n<p>Authentic Brands has partnered with mall owner Simon Property Group (SPG) in the acquisitions of several retailers, including JCPenney, Forever 21, and Aeropostale. The largest shareholders in Authentic Brands include chairman and CEO Jamie Salter, Simon Property Group, BlackRock (BLK), Leonard Green &amp; Partners, Lion Capital, and General Atlantic.</p>\n<h2>The Bottom Line</h2>\n<p>The details of the Authentic Brands Group IPO are still a work in process. The lead underwriters are Bank of America (BAC), JPMorgan Chase (JPM), and Goldman Sachs Group (GS).</p>\n<p>With the accelerating rise of e-commerce continuing to damage the prospects of traditional brick-and-mortar stores, the upcoming Authentic Brands Group IPO represents something of a contrarian play, partially a bet that physical retailers still offer value, especially if they can be acquired at attractive beaten-down prices. Moreover, the importance of licensing fees to Authentic Brands (representing roughly 96% or more of total revenues) means that the company's value rests largely within the brands themselves, and not in specific distribution channels.</p>","source":"yahoofinance","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>Authentic Brands IPO: AUTH May Be Valued at $10 Billion</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\">\nAuthentic Brands IPO: AUTH May Be Valued at $10 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 15:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investopedia.com/authentic-brands-ipo-auth-expected-to-raise-usd100-million-5191826?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo><strong>Investopedia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, Aeropostale, Lucky Brand, Barneys New York, and Juicy Couture. ...</p>\n\n<a href=\"https://www.investopedia.com/authentic-brands-ipo-auth-expected-to-raise-usd100-million-5191826?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investopedia.com/authentic-brands-ipo-auth-expected-to-raise-usd100-million-5191826?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2150267773","content_text":"Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, Aeropostale, Lucky Brand, Barneys New York, and Juicy Couture. As a result, Authentic Brands has become one of the biggest operators of brick-and-mortar stores during a period of increasing online sales. The company also holds licenses to more than 30 brands, such as Sports Illustrated and Marilyn Monroe. The upshot is that Authentic Brands derives most of its sales revenue from licensing fees.\nKey Takeaways\n\nAuthentic Brands owns several retailers, including JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, and Aeropostale.\nAuthentic Brands also owns the license to more than 30 brands.\nAuthentic Brands will go public in an IPO that may value the company at $10 billion.\nAuthentic Brands reported total revenue of $489 million and net income of $225 million in 2020.\n\nAuthentic Brands, which is headquartered in New York, was founded in 2010 by Toronto-based Jamie Salter, who serves as its chairman and CEO. Salter's four sons also are employed by Authentic Brands, including Corey Salter who serves as its chief operating officer (COO).\nJamie Salter previously was CEO of Hilco Consumer Capital (HCC), which took brands such as instant photography pioneer Polaroid and specialty retailer Sharper Image out of bankruptcy. Hilco describes itself as: \"a leading private equity firm that makes strategic investments in consumer product retailers, wholesalers, manufacturers and intellectual property. Our core focus is on North American companies with strong consumer brands.\"\nThe preliminary prospectus filed by Authentic Brands for its IPO does not specify an anticipated offering price or date for the shares, nor does it place a valuation on the company. However, it is known that the offering will include two share classes, with class A shares being sold to the general public and class B shares, which will have greater voting rights, being issued to Jamie Salter and his key associates.\nWhile the preliminary prospectus indicates that the IPO is expected to raise $100 million, this is widely viewed as merely a placeholder amount that is expected to change significantly. Bloomberg estimates that Authentic Brands actually could be worth about $10 billion when its IPO finally comes to market, roughly double an estimated valuation of $4 billion to $5 billion in 2019.\nAuthentic Brands Company Financials\nThe table below presents key financial data for Authentic Brands, for the most recent reported year, with comparisons to the prior year.\n\n\n\n\n\n\nAuthentic Brands Key Financials: Most Recent Years\n\n\n\n\nMetric\nFull Year 2020\nFull Year 2019\n\n\nTotal Revenue\n$488.9 million\n$480.4 million\n\n\nNet Income\n$225.3 million\n$96.5 million\n\n\nLicensing Revenue\n$471.3 million\n$469.3 million\n\n\n\nSource: Authentic Brands S-1 Filing\nThe results for full year 2019 included a realized loss on investments of $93.9 million, whereas the company reported a gain of $0.7 million in 2020. The table below presents the same key financial data as shown above, but for the most recent reported quarter, with comparisons to the same quarter in the previous year.\n\n\n\n\n\n\nAuthentic Brands Key Financials: Most Recent Quarter\n\n\n\n\nMetric\nQ1 2021\nQ1 2020\n\n\nTotal Revenue\n$160.1 million\n$120.5 million\n\n\nNet Income\n$294.9 million\n$60.8 million\n\n\nLicensing Revenue\n$153.3 million\n$117.4 million\n\n\n\nSource: Authentic Brands S-1 Filing\nNet income for Q1 2021 included $201.0 million of equity in net income of investments accounted for under the equity method. In Q1 2020, this figure was a loss of $35.9 million.\nAmong the key achievements cited by management for the period from 2016 through 2020 were an increase in revenue from $165 million to $489 million, representing a CAGR of 31%. Meanwhile, net income attributable to Authentic Brands Group grew from $45 million to $211 million, for a CAGR of 47%.\nAdditional Company Details\nAuthentic Brands has partnered with mall owner Simon Property Group (SPG) in the acquisitions of several retailers, including JCPenney, Forever 21, and Aeropostale. The largest shareholders in Authentic Brands include chairman and CEO Jamie Salter, Simon Property Group, BlackRock (BLK), Leonard Green & Partners, Lion Capital, and General Atlantic.\nThe Bottom Line\nThe details of the Authentic Brands Group IPO are still a work in process. The lead underwriters are Bank of America (BAC), JPMorgan Chase (JPM), and Goldman Sachs Group (GS).\nWith the accelerating rise of e-commerce continuing to damage the prospects of traditional brick-and-mortar stores, the upcoming Authentic Brands Group IPO represents something of a contrarian play, partially a bet that physical retailers still offer value, especially if they can be acquired at attractive beaten-down prices. Moreover, the importance of licensing fees to Authentic Brands (representing roughly 96% or more of total revenues) means that the company's value rests largely within the brands themselves, and not in specific distribution channels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146620927,"gmtCreate":1626077442569,"gmtModify":1631891051904,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Excitedddd for space!","listText":"Excitedddd for space!","text":"Excitedddd for space!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/146620927","repostId":"1175294142","repostType":4,"isVote":1,"tweetType":1,"viewCount":194,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146662915,"gmtCreate":1626077272937,"gmtModify":1631891051910,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Exciting to watch!","listText":"Exciting to watch!","text":"Exciting to watch!","images":[{"img":"https://static.tigerbbs.com/b458f9b7ccd8b4b6025e75c7016fa5b7","width":"1080","height":"3528"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/146662915","isVote":1,"tweetType":1,"viewCount":240,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":148701939,"gmtCreate":1626013167321,"gmtModify":1631891051912,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Yesssss great news","listText":"Yesssss great news","text":"Yesssss great news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148701939","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://www.laohu8.com/m/news/1112201050?lang=&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p>\n<p>When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p>\n<p>It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p>\n<p>The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p>\n<p>That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p>\n<p>While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p>\n<p>Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p>\n<p>A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p>\n<p><img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p>\n<p>“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p>\n<p>The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p>\n<p>Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p>\n<p>The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p>\n<p>Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p>\n<p>These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p>\n<p>To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p>\n<p>But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p>\n<p>“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p>\n<p>“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p>\n<p>Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p>\n<p>Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p>\n<p>But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p>\n<p><img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p>\n<p>“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p>\n<p>The swings you get can definitely make you feel some sort of way.</p>\n<p>— Matt Kohrs, 26, who streams stock analysis daily on YouTube</p>\n<p>It is now changing the lives of those who got in early and are still riding the names higher.</p>\n<p>Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p>\n<p>With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p>\n<p>“The swings you get can definitely make you feel some sort of way,” he says.</p>\n<p>Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p>\n<p>AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p>\n<p>Forget the boardroom. Corporate policy is now being determined in the chat room.</p>\n<p>Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p>\n<p>In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p>\n<p>There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p>\n<p>For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p>\n<p>For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p>\n<p>New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p>\n<p>“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p>\n<p>Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p>\n<p>Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p>\n<p>The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p>\n<p>The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p>\n<p>Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p>\n<p>As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p>\n<p>To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p>\n<p>Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p>\n<p>Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p>\n<p>“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p>\n<p>“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p>\n<p>The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p>\n<p>Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p>\n<p>Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p>\n<p>In one form or another, this is the future client base of Wall Street.</p>\n<p>Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p>\n<p>Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Meme Stock Trade Is Far From Over. 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What Investors Need to Know.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 09:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking ...</p>\n\n<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRIN":"Marin Software Inc.","GME":"游戏驿站","WKHS":"Workhorse Group, Inc.","CARV":"卡弗储蓄","BB":"黑莓","SCHW":"嘉信理财","AMC":"AMC院线","BBBY":"3B家居","NEGG":"Newegg Comm Inc.","CLOV":"Clover Health Corp"},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148700741,"gmtCreate":1626013049383,"gmtModify":1631888768628,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>waiting!","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>waiting!","text":"$Citius Pharmaceuticals, Inc.(CTXR)$waiting!","images":[{"img":"https://static.tigerbbs.com/62f8425afad15d09f7a453105d2645ba","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/148700741","isVote":1,"tweetType":1,"viewCount":552,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":143786306,"gmtCreate":1625818414705,"gmtModify":1631889209592,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ITRM\">$Iterum Therapeutics Plc(ITRM)$</a>waiting for the climb!","listText":"<a href=\"https://laohu8.com/S/ITRM\">$Iterum Therapeutics Plc(ITRM)$</a>waiting for the climb!","text":"$Iterum Therapeutics Plc(ITRM)$waiting for the climb!","images":[{"img":"https://static.tigerbbs.com/da15a86ddb4018290b2998f197770eec","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/143786306","isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":149773849,"gmtCreate":1625751190981,"gmtModify":1631885482053,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Time to buy the dip?","listText":"Time to buy the dip?","text":"Time to buy the dip?","images":[{"img":"https://static.tigerbbs.com/757c06e5a54a9300d2072d2a6aaeb521","width":"1080","height":"3429"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/149773849","isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":140605258,"gmtCreate":1625651088374,"gmtModify":1631884501942,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SNDL\">$Sundial Growers Inc.(SNDL)$</a>looking for some fresh bucks","listText":"<a href=\"https://laohu8.com/S/SNDL\">$Sundial Growers Inc.(SNDL)$</a>looking for some fresh bucks","text":"$Sundial Growers Inc.(SNDL)$looking 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climb","images":[{"img":"https://static.tigerbbs.com/099eb86fff694634fd4c96d1c83e3127","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154114495","isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":155662726,"gmtCreate":1625413632665,"gmtModify":1631888768641,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>worried? Whats that","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>worried? Whats that","text":"$Citius Pharmaceuticals, Inc.(CTXR)$worried? Whats that","images":[{"img":"https://static.tigerbbs.com/dfa6c74879c85a8b1ba84eedd2fdaf6f","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155662726","isVote":1,"tweetType":1,"viewCount":101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":158896081,"gmtCreate":1625142313743,"gmtModify":1631888768659,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>still waiting for the climb, not worried","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>still waiting for the climb, not worried","text":"$Citius Pharmaceuticals, Inc.(CTXR)$still waiting for the climb, not worried","images":[{"img":"https://static.tigerbbs.com/502e299ee3bfa262846511d05a211947","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/158896081","isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":159750039,"gmtCreate":1624981351321,"gmtModify":1631891051916,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Tell me more","listText":"Tell me more","text":"Tell me more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159750039","repostId":"1172874030","repostType":4,"repost":{"id":"1172874030","kind":"news","pubTimestamp":1624879330,"share":"https://www.laohu8.com/m/news/1172874030?lang=&edition=full","pubTime":"2021-06-28 19:22","market":"us","language":"en","title":"Bed Bath & Beyond Is Set to Report Earnings on Wednesday. What to Know.","url":"https://stock-news.laohu8.com/highlight/detail?id=1172874030","media":"Barrons","summary":"After a wild month on the meme stock rollercoaster, Bed Bath & Beyond shares have settled down right","content":"<p>After a wild month on the meme stock rollercoaster, Bed Bath &amp; Beyond shares have settled down right in time for the retailer’s latest earnings report.</p>\n<p>Bed Bath &amp; Beyond (ticker: BBBY) is set to report fiscal first-quarter earnings results before the market opens on Wednesday. The Wall Street consensus estimate for the quarter has adjusted earnings at nine cents per share and sales at $1.87 billion,&nbsp;according to FactSet. Analysts forecast same-store sales growth of 76% year-over-year.</p>\n<p>Wedbush Securities analyst Seth Basham thinks sales will meet expectations, but he’ll be looking for updates on how the company’s market share is holding up. He notes that Bed Bath is facing a relatively easy comparison from last year’s pandemic-impacted period. That will change in quarters to come, as the company will lap periods that saw in uptick in at-home spending.</p>\n<p>Bed Bath shares were caught in a broader&nbsp;resurgence for meme stocks&nbsp;at the start of June, but have since settled down. That led BofA Global Research analyst Curtis Nagle to bring back a Buy rating for the stock last week. Nagle dropped his rating after shares spiked 62% on June 2 on little news&nbsp;aside from chatter on social media. That’s a hallmark of&nbsp;meme stocks, which are generally highly shorted companies targeted&nbsp;by retail investors on Reddit.</p>\n<p>“Since then, [Bed Bath &amp; Beyond] shares are now trading much closer to levels pre-surge, and non-fundamentals drivers such as number of mentions on retail investor online message boards, trading volumes, and short interest have moderated,” Nagle wrote.</p>\n<p>Nagle also brought back a $38 price objective. He expects the company to hit earnings before interest, taxes, depreciation, and amortization, or Ebitda, of between $850 million and $1 billion by 2023.</p>\n<p>Bed Bath’s meme stock status has somewhat obscured efforts by CEO Mark Tritton to&nbsp;turn the company around. Nagle notes that the company’s balance sheet is in a strong place, with about $1.35 billion in cash and negative net debt of $200 million.</p>\n<p>He also argues the company is heading into its&nbsp;largest new product rollout&nbsp;in history, as the company rolls out new private label brands. Tritton told&nbsp;<i>Barron’s</i>&nbsp;earlier this year such efforts&nbsp;would play a role&nbsp;in the retailer’s turnaround.</p>\n<p>Nagle also points to store closures at underperforming locations and reopening tailwinds from back to school and wedding registry shoppers that should benefit the retailer.</p>\n<p>Of course, investors will need to be wary of social media and short seller activity. June wasn’t the first time the stock was caught in meme stock volatility. Bed Bath saw shares surge in January along with&nbsp;GameStop(GME) and&nbsp;AMC Entertainment Holdings(AMC).</p>\n<p>Analysts are mixed on the company’s prospects. Of the 21 analysts covering Bed Bath stock, two have Buy ratings, 13 have Neutral ratings, while six have Sell or equivalent ratings, according to FactSet. Their mean price target is $26.43, implying 12.1% downside from recent levels.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bed Bath & Beyond Is Set to Report Earnings on Wednesday. What to Know.</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\">\nBed Bath & Beyond Is Set to Report Earnings on Wednesday. What to Know.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 19:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bed-bath-beyond-reports-earnings-on-wednesday-look-beyond-the-meme-stock-spotlight-51624654711?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a wild month on the meme stock rollercoaster, Bed Bath & Beyond shares have settled down right in time for the retailer’s latest earnings report.\nBed Bath & Beyond (ticker: BBBY) is set to ...</p>\n\n<a href=\"https://www.barrons.com/articles/bed-bath-beyond-reports-earnings-on-wednesday-look-beyond-the-meme-stock-spotlight-51624654711?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBBY":"3B家居"},"source_url":"https://www.barrons.com/articles/bed-bath-beyond-reports-earnings-on-wednesday-look-beyond-the-meme-stock-spotlight-51624654711?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172874030","content_text":"After a wild month on the meme stock rollercoaster, Bed Bath & Beyond shares have settled down right in time for the retailer’s latest earnings report.\nBed Bath & Beyond (ticker: BBBY) is set to report fiscal first-quarter earnings results before the market opens on Wednesday. The Wall Street consensus estimate for the quarter has adjusted earnings at nine cents per share and sales at $1.87 billion, according to FactSet. Analysts forecast same-store sales growth of 76% year-over-year.\nWedbush Securities analyst Seth Basham thinks sales will meet expectations, but he’ll be looking for updates on how the company’s market share is holding up. He notes that Bed Bath is facing a relatively easy comparison from last year’s pandemic-impacted period. That will change in quarters to come, as the company will lap periods that saw in uptick in at-home spending.\nBed Bath shares were caught in a broader resurgence for meme stocks at the start of June, but have since settled down. That led BofA Global Research analyst Curtis Nagle to bring back a Buy rating for the stock last week. Nagle dropped his rating after shares spiked 62% on June 2 on little news aside from chatter on social media. That’s a hallmark of meme stocks, which are generally highly shorted companies targeted by retail investors on Reddit.\n“Since then, [Bed Bath & Beyond] shares are now trading much closer to levels pre-surge, and non-fundamentals drivers such as number of mentions on retail investor online message boards, trading volumes, and short interest have moderated,” Nagle wrote.\nNagle also brought back a $38 price objective. He expects the company to hit earnings before interest, taxes, depreciation, and amortization, or Ebitda, of between $850 million and $1 billion by 2023.\nBed Bath’s meme stock status has somewhat obscured efforts by CEO Mark Tritton to turn the company around. Nagle notes that the company’s balance sheet is in a strong place, with about $1.35 billion in cash and negative net debt of $200 million.\nHe also argues the company is heading into its largest new product rollout in history, as the company rolls out new private label brands. Tritton told Barron’s earlier this year such efforts would play a role in the retailer’s turnaround.\nNagle also points to store closures at underperforming locations and reopening tailwinds from back to school and wedding registry shoppers that should benefit the retailer.\nOf course, investors will need to be wary of social media and short seller activity. June wasn’t the first time the stock was caught in meme stock volatility. Bed Bath saw shares surge in January along with GameStop(GME) and AMC Entertainment Holdings(AMC).\nAnalysts are mixed on the company’s prospects. Of the 21 analysts covering Bed Bath stock, two have Buy ratings, 13 have Neutral ratings, while six have Sell or equivalent ratings, according to FactSet. Their mean price target is $26.43, implying 12.1% downside from recent levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":159582028,"gmtCreate":1624974344964,"gmtModify":1631891051919,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159582028","repostId":"2146388793","repostType":4,"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":121504904,"gmtCreate":1624469960808,"gmtModify":1631888768677,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>bought a lil high, no worries at all though","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>bought a lil high, no worries at all though","text":"$Citius Pharmaceuticals, Inc.(CTXR)$bought a lil high, no worries at all though","images":[{"img":"https://static.tigerbbs.com/e3aad6c610a3b645f563592604e8638c","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/121504904","isVote":1,"tweetType":1,"viewCount":692,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":159167269,"gmtCreate":1624949509151,"gmtModify":1631888768665,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>just gotta keep waiting","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>just gotta keep waiting","text":"$Citius Pharmaceuticals, Inc.(CTXR)$just gotta keep waiting","images":[{"img":"https://static.tigerbbs.com/31e73d9beb7e48841bc6af1b66aa206d","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159167269","isVote":1,"tweetType":1,"viewCount":625,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3561866690345736","authorId":"3561866690345736","name":"LeoneLin","avatar":"https://static.tigerbbs.com/9965a573cb405a2130a0e8d4c4726bee","crmLevel":1,"crmLevelSwitch":0,"idStr":"3561866690345736","authorIdStr":"3561866690345736"},"content":"你就会亏没","text":"你就会亏没","html":"你就会亏没"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":159582028,"gmtCreate":1624974344964,"gmtModify":1631891051919,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Interesting","listText":"Interesting","text":"Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/159582028","repostId":"2146388793","repostType":4,"isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148701939,"gmtCreate":1626013167321,"gmtModify":1631891051912,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Yesssss great news","listText":"Yesssss great news","text":"Yesssss great news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148701939","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://www.laohu8.com/m/news/1112201050?lang=&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p>\n<p>When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p>\n<p>It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p>\n<p>The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p>\n<p>That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p>\n<p>While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p>\n<p>Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p>\n<p>A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p>\n<p><img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p>\n<p>“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p>\n<p>The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p>\n<p>Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p>\n<p><img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p>\n<p>The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p>\n<p>Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p>\n<p>These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p>\n<p>To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p>\n<p>But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p>\n<p>“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p>\n<p>“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p>\n<p>Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p>\n<p>Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p>\n<p>But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p>\n<p><img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p>\n<p>“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p>\n<p>The swings you get can definitely make you feel some sort of way.</p>\n<p>— Matt Kohrs, 26, who streams stock analysis daily on YouTube</p>\n<p>It is now changing the lives of those who got in early and are still riding the names higher.</p>\n<p>Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p>\n<p>With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p>\n<p>“The swings you get can definitely make you feel some sort of way,” he says.</p>\n<p>Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p>\n<p>AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p>\n<p>Forget the boardroom. Corporate policy is now being determined in the chat room.</p>\n<p>Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p>\n<p>In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p>\n<p>There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p>\n<p>For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p>\n<p>For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p>\n<p>New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p>\n<p>“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p>\n<p>Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p>\n<p>Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p>\n<p>The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p>\n<p>The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p>\n<p>Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p>\n<p>As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p>\n<p>To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p>\n<p>Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p>\n<p>Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p>\n<p>“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p>\n<p>“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p>\n<p>The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p>\n<p>Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p>\n<p>Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p>\n<p>In one form or another, this is the future client base of Wall Street.</p>\n<p>Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p>\n<p>Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Meme Stock Trade Is Far From Over. What Investors Need to Know.</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\">\nThe Meme Stock Trade Is Far From Over. What Investors Need to Know.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-11 09:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking ...</p>\n\n<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRIN":"Marin Software Inc.","GME":"游戏驿站","WKHS":"Workhorse Group, Inc.","CARV":"卡弗储蓄","BB":"黑莓","SCHW":"嘉信理财","AMC":"AMC院线","BBBY":"3B家居","NEGG":"Newegg Comm Inc.","CLOV":"Clover Health Corp"},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":146,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147070468,"gmtCreate":1626323560554,"gmtModify":1631891051901,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Good information! Thanks","listText":"Good information! Thanks","text":"Good information! Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/147070468","repostId":"2151751740","repostType":4,"isVote":1,"tweetType":1,"viewCount":496,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":157388527,"gmtCreate":1625565741769,"gmtModify":1631889209613,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ITRM\">$Iterum Therapeutics Plc(ITRM)$</a>lets goooo","listText":"<a href=\"https://laohu8.com/S/ITRM\">$Iterum Therapeutics Plc(ITRM)$</a>lets goooo","text":"$Iterum Therapeutics Plc(ITRM)$lets goooo","images":[{"img":"https://static.tigerbbs.com/286f5f0d79bac286cd61e4c62cbcd061","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/157388527","isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":154114495,"gmtCreate":1625489191717,"gmtModify":1631889209619,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ITRM\">$Iterum Therapeutics Plc(ITRM)$</a>primed for the climb","listText":"<a href=\"https://laohu8.com/S/ITRM\">$Iterum Therapeutics Plc(ITRM)$</a>primed for the climb","text":"$Iterum Therapeutics Plc(ITRM)$primed for the climb","images":[{"img":"https://static.tigerbbs.com/099eb86fff694634fd4c96d1c83e3127","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/154114495","isVote":1,"tweetType":1,"viewCount":521,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":155662726,"gmtCreate":1625413632665,"gmtModify":1631888768641,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>worried? Whats that","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>worried? Whats that","text":"$Citius Pharmaceuticals, Inc.(CTXR)$worried? Whats that","images":[{"img":"https://static.tigerbbs.com/dfa6c74879c85a8b1ba84eedd2fdaf6f","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/155662726","isVote":1,"tweetType":1,"viewCount":101,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":158896081,"gmtCreate":1625142313743,"gmtModify":1631888768659,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>still waiting for the climb, not worried","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>still waiting for the climb, not worried","text":"$Citius Pharmaceuticals, Inc.(CTXR)$still waiting for the climb, not worried","images":[{"img":"https://static.tigerbbs.com/502e299ee3bfa262846511d05a211947","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/158896081","isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":159750039,"gmtCreate":1624981351321,"gmtModify":1631891051916,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Tell me more","listText":"Tell me more","text":"Tell me more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/159750039","repostId":"1172874030","repostType":4,"repost":{"id":"1172874030","kind":"news","pubTimestamp":1624879330,"share":"https://www.laohu8.com/m/news/1172874030?lang=&edition=full","pubTime":"2021-06-28 19:22","market":"us","language":"en","title":"Bed Bath & Beyond Is Set to Report Earnings on Wednesday. What to Know.","url":"https://stock-news.laohu8.com/highlight/detail?id=1172874030","media":"Barrons","summary":"After a wild month on the meme stock rollercoaster, Bed Bath & Beyond shares have settled down right","content":"<p>After a wild month on the meme stock rollercoaster, Bed Bath &amp; Beyond shares have settled down right in time for the retailer’s latest earnings report.</p>\n<p>Bed Bath &amp; Beyond (ticker: BBBY) is set to report fiscal first-quarter earnings results before the market opens on Wednesday. The Wall Street consensus estimate for the quarter has adjusted earnings at nine cents per share and sales at $1.87 billion,&nbsp;according to FactSet. Analysts forecast same-store sales growth of 76% year-over-year.</p>\n<p>Wedbush Securities analyst Seth Basham thinks sales will meet expectations, but he’ll be looking for updates on how the company’s market share is holding up. He notes that Bed Bath is facing a relatively easy comparison from last year’s pandemic-impacted period. That will change in quarters to come, as the company will lap periods that saw in uptick in at-home spending.</p>\n<p>Bed Bath shares were caught in a broader&nbsp;resurgence for meme stocks&nbsp;at the start of June, but have since settled down. That led BofA Global Research analyst Curtis Nagle to bring back a Buy rating for the stock last week. Nagle dropped his rating after shares spiked 62% on June 2 on little news&nbsp;aside from chatter on social media. That’s a hallmark of&nbsp;meme stocks, which are generally highly shorted companies targeted&nbsp;by retail investors on Reddit.</p>\n<p>“Since then, [Bed Bath &amp; Beyond] shares are now trading much closer to levels pre-surge, and non-fundamentals drivers such as number of mentions on retail investor online message boards, trading volumes, and short interest have moderated,” Nagle wrote.</p>\n<p>Nagle also brought back a $38 price objective. He expects the company to hit earnings before interest, taxes, depreciation, and amortization, or Ebitda, of between $850 million and $1 billion by 2023.</p>\n<p>Bed Bath’s meme stock status has somewhat obscured efforts by CEO Mark Tritton to&nbsp;turn the company around. Nagle notes that the company’s balance sheet is in a strong place, with about $1.35 billion in cash and negative net debt of $200 million.</p>\n<p>He also argues the company is heading into its&nbsp;largest new product rollout&nbsp;in history, as the company rolls out new private label brands. Tritton told&nbsp;<i>Barron’s</i>&nbsp;earlier this year such efforts&nbsp;would play a role&nbsp;in the retailer’s turnaround.</p>\n<p>Nagle also points to store closures at underperforming locations and reopening tailwinds from back to school and wedding registry shoppers that should benefit the retailer.</p>\n<p>Of course, investors will need to be wary of social media and short seller activity. June wasn’t the first time the stock was caught in meme stock volatility. Bed Bath saw shares surge in January along with&nbsp;GameStop(GME) and&nbsp;AMC Entertainment Holdings(AMC).</p>\n<p>Analysts are mixed on the company’s prospects. Of the 21 analysts covering Bed Bath stock, two have Buy ratings, 13 have Neutral ratings, while six have Sell or equivalent ratings, according to FactSet. Their mean price target is $26.43, implying 12.1% downside from recent levels.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bed Bath & Beyond Is Set to Report Earnings on Wednesday. What to Know.</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\">\nBed Bath & Beyond Is Set to Report Earnings on Wednesday. What to Know.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-28 19:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bed-bath-beyond-reports-earnings-on-wednesday-look-beyond-the-meme-stock-spotlight-51624654711?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>After a wild month on the meme stock rollercoaster, Bed Bath & Beyond shares have settled down right in time for the retailer’s latest earnings report.\nBed Bath & Beyond (ticker: BBBY) is set to ...</p>\n\n<a href=\"https://www.barrons.com/articles/bed-bath-beyond-reports-earnings-on-wednesday-look-beyond-the-meme-stock-spotlight-51624654711?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BBBY":"3B家居"},"source_url":"https://www.barrons.com/articles/bed-bath-beyond-reports-earnings-on-wednesday-look-beyond-the-meme-stock-spotlight-51624654711?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172874030","content_text":"After a wild month on the meme stock rollercoaster, Bed Bath & Beyond shares have settled down right in time for the retailer’s latest earnings report.\nBed Bath & Beyond (ticker: BBBY) is set to report fiscal first-quarter earnings results before the market opens on Wednesday. The Wall Street consensus estimate for the quarter has adjusted earnings at nine cents per share and sales at $1.87 billion, according to FactSet. Analysts forecast same-store sales growth of 76% year-over-year.\nWedbush Securities analyst Seth Basham thinks sales will meet expectations, but he’ll be looking for updates on how the company’s market share is holding up. He notes that Bed Bath is facing a relatively easy comparison from last year’s pandemic-impacted period. That will change in quarters to come, as the company will lap periods that saw in uptick in at-home spending.\nBed Bath shares were caught in a broader resurgence for meme stocks at the start of June, but have since settled down. That led BofA Global Research analyst Curtis Nagle to bring back a Buy rating for the stock last week. Nagle dropped his rating after shares spiked 62% on June 2 on little news aside from chatter on social media. That’s a hallmark of meme stocks, which are generally highly shorted companies targeted by retail investors on Reddit.\n“Since then, [Bed Bath & Beyond] shares are now trading much closer to levels pre-surge, and non-fundamentals drivers such as number of mentions on retail investor online message boards, trading volumes, and short interest have moderated,” Nagle wrote.\nNagle also brought back a $38 price objective. He expects the company to hit earnings before interest, taxes, depreciation, and amortization, or Ebitda, of between $850 million and $1 billion by 2023.\nBed Bath’s meme stock status has somewhat obscured efforts by CEO Mark Tritton to turn the company around. Nagle notes that the company’s balance sheet is in a strong place, with about $1.35 billion in cash and negative net debt of $200 million.\nHe also argues the company is heading into its largest new product rollout in history, as the company rolls out new private label brands. Tritton told Barron’s earlier this year such efforts would play a role in the retailer’s turnaround.\nNagle also points to store closures at underperforming locations and reopening tailwinds from back to school and wedding registry shoppers that should benefit the retailer.\nOf course, investors will need to be wary of social media and short seller activity. June wasn’t the first time the stock was caught in meme stock volatility. Bed Bath saw shares surge in January along with GameStop(GME) and AMC Entertainment Holdings(AMC).\nAnalysts are mixed on the company’s prospects. Of the 21 analysts covering Bed Bath stock, two have Buy ratings, 13 have Neutral ratings, while six have Sell or equivalent ratings, according to FactSet. Their mean price target is $26.43, implying 12.1% downside from recent levels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":183,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147201454,"gmtCreate":1626358098878,"gmtModify":1631888768623,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>did yall buy the dip? I did!","listText":"<a href=\"https://laohu8.com/S/CTXR\">$Citius Pharmaceuticals, Inc.(CTXR)$</a>did yall buy the dip? I did!","text":"$Citius Pharmaceuticals, Inc.(CTXR)$did yall buy the dip? 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href=\"https://laohu8.com/S/ITRM\">$Iterum Therapeutics Plc(ITRM)$</a>waiting for the climb!","text":"$Iterum Therapeutics Plc(ITRM)$waiting for the climb!","images":[{"img":"https://static.tigerbbs.com/da15a86ddb4018290b2998f197770eec","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/143786306","isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":140605258,"gmtCreate":1625651088374,"gmtModify":1631884501942,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SNDL\">$Sundial Growers Inc.(SNDL)$</a>looking for some fresh bucks","listText":"<a href=\"https://laohu8.com/S/SNDL\">$Sundial Growers Inc.(SNDL)$</a>looking for some fresh bucks","text":"$Sundial Growers Inc.(SNDL)$looking for some fresh bucks","images":[{"img":"https://static.tigerbbs.com/ebcbb49a549cdc7ed794fc25afe379c2","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/140605258","isVote":1,"tweetType":1,"viewCount":284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":150012041,"gmtCreate":1624874817083,"gmtModify":1631891051922,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/01810\">$XIAOMI-W(01810)$</a>woohoo free stock best stock","listText":"<a href=\"https://laohu8.com/S/01810\">$XIAOMI-W(01810)$</a>woohoo free stock best stock","text":"$XIAOMI-W(01810)$woohoo free stock best stock","images":[{"img":"https://static.tigerbbs.com/f481fd7ea76036ffc72317ed18fb40d5","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/150012041","isVote":1,"tweetType":1,"viewCount":246,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":121505789,"gmtCreate":1624469870841,"gmtModify":1631893305187,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"I do hope it does make us rich","listText":"I do hope it does make us rich","text":"I do hope it does make us rich","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/121505789","repostId":"2145531099","repostType":4,"isVote":1,"tweetType":1,"viewCount":41,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146628015,"gmtCreate":1626077654037,"gmtModify":1631891051903,"author":{"id":"4087366724045480","authorId":"4087366724045480","name":"Demonscars","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4087366724045480","authorIdStr":"4087366724045480"},"themes":[],"htmlText":"Cool!","listText":"Cool!","text":"Cool!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/146628015","repostId":"2150267773","repostType":4,"repost":{"id":"2150267773","kind":"news","pubTimestamp":1626076380,"share":"https://www.laohu8.com/m/news/2150267773?lang=&edition=full","pubTime":"2021-07-12 15:53","market":"us","language":"en","title":"Authentic Brands IPO: AUTH May Be Valued at $10 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2150267773","media":"Investopedia","summary":"Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddi","content":"<p>Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, Aeropostale, Lucky Brand, Barneys New York, and Juicy Couture. As a result, Authentic Brands has become <a href=\"https://laohu8.com/S/AONE\">one</a> of the biggest operators of brick-and-mortar stores during a period of increasing online sales. The company also holds licenses to more than 30 brands, such as Sports Illustrated and Marilyn Monroe. The upshot is that Authentic Brands derives most of its sales revenue from licensing fees.</p>\n<h3>Key Takeaways</h3>\n<ul>\n <li>Authentic Brands owns several retailers, including JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, and Aeropostale.</li>\n <li>Authentic Brands also owns the license to more than 30 brands.</li>\n <li>Authentic Brands will go public in an IPO that may value the company at $10 billion.</li>\n <li>Authentic Brands reported total revenue of $489 million and net income of $225 million in 2020.</li>\n</ul>\n<p>Authentic Brands, which is headquartered in New York, was founded in 2010 by Toronto-based Jamie Salter, who serves as its chairman and CEO. Salter's four sons also are employed by Authentic Brands, including Corey Salter who serves as its chief operating officer (COO).</p>\n<p>Jamie Salter previously was CEO of Hilco Consumer Capital (HCC), which took brands such as instant photography pioneer Polaroid and specialty retailer Sharper Image out of bankruptcy. Hilco describes itself as: \"a leading private equity firm that makes strategic investments in consumer product retailers, wholesalers, manufacturers and intellectual property. Our core focus is on North American companies with strong consumer brands.\"</p>\n<p>The preliminary prospectus filed by Authentic Brands for its IPO does not specify an anticipated offering price or date for the shares, nor does it place a valuation on the company. However, it is known that the offering will include two share classes, with class A shares being sold to the general public and class B shares, which will have greater voting rights, being issued to Jamie Salter and his key associates.</p>\n<p>While the preliminary prospectus indicates that the IPO is expected to raise $100 million, this is widely viewed as merely a placeholder amount that is expected to change significantly. Bloomberg estimates that Authentic Brands actually could be worth about $10 billion when its IPO finally comes to market, roughly double an estimated valuation of $4 billion to $5 billion in 2019.</p>\n<h2>Authentic Brands Company Financials</h2>\n<p>The table below presents key financial data for Authentic Brands, for the most recent reported year, with comparisons to the prior year.</p>\n<table>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <thead>\n  <tr>\n   <th colspan=\"3\">Authentic Brands Key Financials: Most Recent Years</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>Metric</td>\n   <td>Full Year 2020</td>\n   <td>Full Year 2019</td>\n  </tr>\n  <tr>\n   <td>Total Revenue</td>\n   <td>$488.9 million</td>\n   <td>$480.4 million</td>\n  </tr>\n  <tr>\n   <td>Net Income</td>\n   <td>$225.3 million</td>\n   <td>$96.5 million</td>\n  </tr>\n  <tr>\n   <td>Licensing Revenue</td>\n   <td>$471.3 million</td>\n   <td>$469.3 million</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: Authentic Brands S-1 Filing</p>\n<p>The results for full year 2019 included a realized loss on investments of $93.9 million, whereas the company reported a gain of $0.7 million in 2020. The table below presents the same key financial data as shown above, but for the most recent reported quarter, with comparisons to the same quarter in the previous year.</p>\n<table>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <colgroup span=\"1\"></colgroup>\n <thead>\n  <tr>\n   <th colspan=\"3\">Authentic Brands Key Financials: Most Recent Quarter</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>Metric</td>\n   <td>Q1 2021</td>\n   <td>Q1 2020</td>\n  </tr>\n  <tr>\n   <td>Total Revenue</td>\n   <td>$160.1 million</td>\n   <td>$120.5 million</td>\n  </tr>\n  <tr>\n   <td>Net Income</td>\n   <td>$294.9 million</td>\n   <td>$60.8 million</td>\n  </tr>\n  <tr>\n   <td>Licensing Revenue</td>\n   <td>$153.3 million</td>\n   <td>$117.4 million</td>\n  </tr>\n </tbody>\n</table>\n<p>Source: Authentic Brands S-1 Filing</p>\n<p>Net income for Q1 2021 included $201.0 million of equity in net income of investments accounted for under the equity method. In Q1 2020, this figure was a loss of $35.9 million.</p>\n<p>Among the key achievements cited by management for the period from 2016 through 2020 were an increase in revenue from $165 million to $489 million, representing a CAGR of 31%. Meanwhile, net income attributable to Authentic Brands Group grew from $45 million to $211 million, for a CAGR of 47%.</p>\n<h2>Additional Company Details</h2>\n<p>Authentic Brands has partnered with mall owner Simon Property Group (SPG) in the acquisitions of several retailers, including JCPenney, Forever 21, and Aeropostale. The largest shareholders in Authentic Brands include chairman and CEO Jamie Salter, Simon Property Group, BlackRock (BLK), Leonard Green &amp; Partners, Lion Capital, and General Atlantic.</p>\n<h2>The Bottom Line</h2>\n<p>The details of the Authentic Brands Group IPO are still a work in process. The lead underwriters are Bank of America (BAC), JPMorgan Chase (JPM), and Goldman Sachs Group (GS).</p>\n<p>With the accelerating rise of e-commerce continuing to damage the prospects of traditional brick-and-mortar stores, the upcoming Authentic Brands Group IPO represents something of a contrarian play, partially a bet that physical retailers still offer value, especially if they can be acquired at attractive beaten-down prices. Moreover, the importance of licensing fees to Authentic Brands (representing roughly 96% or more of total revenues) means that the company's value rests largely within the brands themselves, and not in specific distribution channels.</p>","source":"yahoofinance","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>Authentic Brands IPO: AUTH May Be Valued at $10 Billion</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\">\nAuthentic Brands IPO: AUTH May Be Valued at $10 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 15:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investopedia.com/authentic-brands-ipo-auth-expected-to-raise-usd100-million-5191826?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo><strong>Investopedia</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, Aeropostale, Lucky Brand, Barneys New York, and Juicy Couture. ...</p>\n\n<a href=\"https://www.investopedia.com/authentic-brands-ipo-auth-expected-to-raise-usd100-million-5191826?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.investopedia.com/authentic-brands-ipo-auth-expected-to-raise-usd100-million-5191826?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2150267773","content_text":"Authentic Brands Group owns a variety of well-known retailers, among them JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, Aeropostale, Lucky Brand, Barneys New York, and Juicy Couture. As a result, Authentic Brands has become one of the biggest operators of brick-and-mortar stores during a period of increasing online sales. The company also holds licenses to more than 30 brands, such as Sports Illustrated and Marilyn Monroe. The upshot is that Authentic Brands derives most of its sales revenue from licensing fees.\nKey Takeaways\n\nAuthentic Brands owns several retailers, including JCPenney, Forever 21, Eddie Bauer, Brooks Brothers, Nine West, and Aeropostale.\nAuthentic Brands also owns the license to more than 30 brands.\nAuthentic Brands will go public in an IPO that may value the company at $10 billion.\nAuthentic Brands reported total revenue of $489 million and net income of $225 million in 2020.\n\nAuthentic Brands, which is headquartered in New York, was founded in 2010 by Toronto-based Jamie Salter, who serves as its chairman and CEO. Salter's four sons also are employed by Authentic Brands, including Corey Salter who serves as its chief operating officer (COO).\nJamie Salter previously was CEO of Hilco Consumer Capital (HCC), which took brands such as instant photography pioneer Polaroid and specialty retailer Sharper Image out of bankruptcy. Hilco describes itself as: \"a leading private equity firm that makes strategic investments in consumer product retailers, wholesalers, manufacturers and intellectual property. Our core focus is on North American companies with strong consumer brands.\"\nThe preliminary prospectus filed by Authentic Brands for its IPO does not specify an anticipated offering price or date for the shares, nor does it place a valuation on the company. However, it is known that the offering will include two share classes, with class A shares being sold to the general public and class B shares, which will have greater voting rights, being issued to Jamie Salter and his key associates.\nWhile the preliminary prospectus indicates that the IPO is expected to raise $100 million, this is widely viewed as merely a placeholder amount that is expected to change significantly. Bloomberg estimates that Authentic Brands actually could be worth about $10 billion when its IPO finally comes to market, roughly double an estimated valuation of $4 billion to $5 billion in 2019.\nAuthentic Brands Company Financials\nThe table below presents key financial data for Authentic Brands, for the most recent reported year, with comparisons to the prior year.\n\n\n\n\n\n\nAuthentic Brands Key Financials: Most Recent Years\n\n\n\n\nMetric\nFull Year 2020\nFull Year 2019\n\n\nTotal Revenue\n$488.9 million\n$480.4 million\n\n\nNet Income\n$225.3 million\n$96.5 million\n\n\nLicensing Revenue\n$471.3 million\n$469.3 million\n\n\n\nSource: Authentic Brands S-1 Filing\nThe results for full year 2019 included a realized loss on investments of $93.9 million, whereas the company reported a gain of $0.7 million in 2020. The table below presents the same key financial data as shown above, but for the most recent reported quarter, with comparisons to the same quarter in the previous year.\n\n\n\n\n\n\nAuthentic Brands Key Financials: Most Recent Quarter\n\n\n\n\nMetric\nQ1 2021\nQ1 2020\n\n\nTotal Revenue\n$160.1 million\n$120.5 million\n\n\nNet Income\n$294.9 million\n$60.8 million\n\n\nLicensing Revenue\n$153.3 million\n$117.4 million\n\n\n\nSource: Authentic Brands S-1 Filing\nNet income for Q1 2021 included $201.0 million of equity in net income of investments accounted for under the equity method. In Q1 2020, this figure was a loss of $35.9 million.\nAmong the key achievements cited by management for the period from 2016 through 2020 were an increase in revenue from $165 million to $489 million, representing a CAGR of 31%. Meanwhile, net income attributable to Authentic Brands Group grew from $45 million to $211 million, for a CAGR of 47%.\nAdditional Company Details\nAuthentic Brands has partnered with mall owner Simon Property Group (SPG) in the acquisitions of several retailers, including JCPenney, Forever 21, and Aeropostale. The largest shareholders in Authentic Brands include chairman and CEO Jamie Salter, Simon Property Group, BlackRock (BLK), Leonard Green & Partners, Lion Capital, and General Atlantic.\nThe Bottom Line\nThe details of the Authentic Brands Group IPO are still a work in process. The lead underwriters are Bank of America (BAC), JPMorgan Chase (JPM), and Goldman Sachs Group (GS).\nWith the accelerating rise of e-commerce continuing to damage the prospects of traditional brick-and-mortar stores, the upcoming Authentic Brands Group IPO represents something of a contrarian play, partially a bet that physical retailers still offer value, especially if they can be acquired at attractive beaten-down prices. Moreover, the importance of licensing fees to Authentic Brands (representing roughly 96% or more of total revenues) means that the company's value rests largely within the brands themselves, and not in specific distribution channels.","news_type":1},"isVote":1,"tweetType":1,"viewCount":196,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}