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Jehms

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2021-12-24

Cool

Sea Limited: An Early Christmas Gift<blockquote>Sea Limited：一份提前的圣诞礼物</blockquote>

2021-12-24

Nice

10 Best Value Stocks to Buy for 2022<blockquote>2022 年最值得购买的 10 只价值股票</blockquote>

2021-12-22

50-50

Is Rivian Stock A Buy, Sell, Or Hold?<blockquote>Rivian股票是买入、卖出还是持有？</blockquote>

2021-12-16

Very good

EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%<blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、Tesla、Lucid、Xpeng 上涨超过 2%</blockquote>

2021-12-10

OMG 😱

抱歉，原内容已删除

2021-12-09

Thanks PSFE for ramping up

2021-12-07

$Devon(DVN)$Good dividends at $0.85

2021-12-03

Wahhhh

抱歉，原内容已删除

2021-11-27

Oh no,Another new variant? B.1.1.529

Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23%.<blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%。</blockquote>

2021-11-12

$Rivian Automotive, Inc.(RIVN)$WowStill ramping up 🆙

2021-11-10

$Rivian Automotive, Inc.(RIVN)$Waiting for you🤗

2021-11-10

$STMicroelectronics NV(STM)$Great

2021-11-08

$SINGAPORE AIRLINES LTD(C6L.SI)$Go up 🆙

2021-11-07

$Pfizer(PFE)$WowFor the pill 💊

2021-11-06

$STMicroelectronics NV(STM)$Keep it up 👍

2021-11-05

$STMicroelectronics NV(STM)$Go go go

2021-11-05

$STMicroelectronics NV(STM)$Continues to grow👏👏👏Keep it up🦾🦾🦾

2021-11-04

$Jollibee Foods Corp.(JBFCF)$Wow

2021-11-03

$STMicroelectronics NV(STM)$Continue to soar high

2021-11-02

$Clean Energy Fuels(CLNE)$Go go go

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14:08","market":"us","language":"en","title":"Sea Limited: An Early Christmas Gift<blockquote>Sea Limited：一份提前的圣诞礼物</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107827800","media":"Seeking Alpha","summary":"Summary\n\nSea Limited is a growing company in a growing economy.\nAt this stage, the company should be","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Sea Limited is a growing company in a growing economy.</li>  <li>At this stage, the company should be judged on its growth, not earnings.</li>  <li>The recent fall in price makes the stock look attractive when compared to similar growth stories.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f48c8d49ed462ac489fe8f5fa91f5691\" tg-width=\"1536\" tg-height=\"1031\" width=\"100%\" height=\"auto\"><span>FreshSplash/E+ via Getty Images</span></p><p><blockquote><ul><li>Sea Limited是一家在不断增长的经济中成长的公司。</li><li>现阶段，应该根据公司的增长而不是盈利来判断公司。</li><li>与类似的增长故事相比，最近的价格下跌使该股看起来很有吸引力。</li></ul><p class=\"t-img-caption\"><span>FreshSplash/E+ 来自盖蒂图片社</span></p></blockquote></p><p> <b>Thesis Summary</b></p><p><blockquote><b>论文总结</b></blockquote></p><p> Sea Limited (SE) is one of those companies that divide the room. The stock was one of the best performing of 2020/2021 but has now fallen over 30% from its all-time high following a general sell-off which has been most felt in growth stocks.</p><p><blockquote>Sea Limited (SE) 是划分房间的公司之一。该股是 2020/2021 年表现最好的股票之一，但在普遍抛售之后，该股已从历史高点下跌了 30% 以上，这种情况在成长型股票中最为明显。</blockquote></p><p> However, Sea's fundamental growth story remains strong, and the fact that it is running at a loss should not bother investors at this point. If we look at each segment individually, there's a lot to like, and an argument could be made for a much higher price than today. On a final note, Sea should also be aided by the recent policy change coming from China's Central bank, the PBOC, and overall macroeconomic trends.</p><p><blockquote>然而，Sea 的基本面增长故事仍然强劲，目前其亏损的事实不应困扰投资者。如果我们单独看每个细分市场，就会发现有很多值得喜欢的地方，而且可以争论比现在高得多的价格。最后一点，中国央行、中国人民银行和整体宏观经济趋势最近的政策变化也应该有助于Sea。</blockquote></p><p> <b>A Quick Recap</b></p><p><blockquote><b>快速回顾</b></blockquote></p><p> Sea Limited has three main segments; Digital Entertainment (Garena), Financial Services (SeaMoney) and E-commerce (Shopee). This is how they performed in the last quarter.</p><p><blockquote>Sea Limited 有三个主要部门；数字娱乐（Garena）、金融服务（SeaMoney）和电子商务（Shopee）。这就是他们上个季度的表现。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cd726650027bd5d269b8fe1f0dd0b14\" tg-width=\"1280\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：投资者介绍</span></p></blockquote></p><p> As we can see, Digital Entertainment is the only segment bringing in operating income. Meanwhile, eCommerce and Digital Finance are running at a loss. However, the growth rates at this point justify the investment. GMV for Shopee was up 81% YoY, and TPV processed through SeaMoney is up 111% YoY.</p><p><blockquote>正如我们所看到的，数字娱乐是唯一带来经营利润的细分市场。与此同时，电子商务和数字金融正在亏损。然而，目前的增长率证明了投资的合理性。Shopee 的 GMV 同比增长 81%，通过 SeaMoney 处理的 TPV 同比增长 111%。</blockquote></p><p> Despite strong growth across the board, Sea Limited has come down significantly in the last few weeks, providing us with a perfect opportunity to buy a stock with an incredibly appealing fundamental growth story.</p><p><blockquote>尽管全面增长强劲，但 Sea Limited 在过去几周大幅下跌，为我们提供了一个绝佳的机会来购买一只具有令人难以置信的吸引力的基本面增长故事的股票。</blockquote></p><p> <b>Growth And Profitability Prospects</b></p><p><blockquote><b>增长及盈利前景</b></blockquote></p><p> Firstly, let's talk about Sea's main geographical market; Southeast Asia. SEA economies are experiencing not just a fast level of growth, but also digitalization, which bodes incredibly well for SE.</p><p><blockquote>首先，我们来谈谈Sea的主要地理市场；东南亚。海洋经济不仅正在经历快速增长，而且正在经历数字化，这对东南亚来说是一个非常好的兆头。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/626a6dc7b34175282aeba7740413ede1\" tg-width=\"1280\" tg-height=\"521\" width=\"100%\" height=\"auto\"><span>Source: SEA Economy Report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：海洋经济报告</span></p></blockquote></p><p> By 2025, the Internet economy is poised to reach over $300 billion in GMV. Indonesia, Vietnam and Thailand will be amongst the fastest growing Internet economies, and these are all areas where the company has a strong presence. On top of that, Sea is also expanding into Latin America, where it has challenged and surpassed MercadoLibre (MELI) in some&nbsp;countries like Brazil.</p><p><blockquote>到2025年，互联网经济的GMV有望超过3000亿美元。印度尼西亚、越南和泰国将成为增长最快的互联网经济体，这些都是该公司拥有强大影响力的地区。最重要的是，Sea 还在向拉丁美洲扩张，在巴西等一些国家挑战并超越了 MercadoLibre (MELI)。</blockquote></p><p> Shopee and SeaMoney will grow hand in hand. As Shopee grows, more merchants and consumers will be pulled into the SeaMoney ecosystem, which not only allows digital payments but also helps merchants and consumers get financing. Of course, at the moment the company is focusing on expansion, but we know full well that both eCommerce and Digital Finance can be lucrative segments.</p><p><blockquote>Shopee和SeaMoney将携手成长。随着Shopee的发展，更多的商家和消费者将被拉入SeaMoney生态系统，该生态系统不仅允许数字支付，还可以帮助商家和消费者获得融资。当然，目前该公司正专注于扩张，但我们非常清楚电子商务和数字金融都可能是利润丰厚的领域。</blockquote></p><p> Garena, which is responsible for creating Free Fire, is on another path. User growth is slowing down, this is true, but there is still plenty of room for monetization. The company has made moves in the right direction here by releasing Free Fire MAX, a premium version of the game. In a recent article on Seeking Alpha,JR Research pointed out&nbsp;that Garena continues to increase the proportion of paying users to active users, which are also growing, albeit at a slower rate.</p><p><blockquote>负责创造Free Fire的Garena正在走另一条道路。用户增长放缓，这是事实，但变现空间依然很大。该公司在这方面朝着正确的方向迈出了一步，发布了该游戏的高级版本Free Fire MAX。JR Research 在最近一篇关于 Seeking Alpha 的文章中指出，Garena 继续提高付费用户与活跃用户的比例，这些用户也在增长，尽管速度较慢。</blockquote></p><p> <b>Comparative Valuation</b></p><p><blockquote><b>比较估值</b></blockquote></p><p> With all that said, I do feel like sometimes Sea Limited gets judged unfairly, precisely because it has such a successful and profitable segment thanks to Free Fire. Investors often look at Sea's earnings and complain that they aren't growing fast enough, but this is not the company's objective. If Shopee or SeaMoney traded separately as \"exciting and fast-growing start-ups\" investors would be much less harsh with the valuation.</p><p><blockquote>综上所述，我确实觉得有时 Sea Limited 会受到不公平的评判，正是因为 Free Fire 拥有如此成功且盈利的细分市场。投资者经常查看 Sea 的盈利并抱怨其增长速度不够快，但这不是该公司的目标。如果 Shopee 或 SeaMoney 作为“令人兴奋且快速增长的初创企业”单独交易，投资者对估值的要求就不会那么苛刻了。</blockquote></p><p> Sea Limited is a growth company in a growth economy, and it should be judged on its growth and revenue, not on its earnings:</p><p><blockquote>Sea Limited 是一家成长型经济体中的成长型公司，应该根据其增长和收入来判断，而不是根据其盈利来判断：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dabf7759dd81e88d0603fc2f17137235\" tg-width=\"905\" tg-height=\"313\" width=\"100%\" height=\"auto\"><span>Data Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：Seeking Alpha</span></p></blockquote></p><p></p><p> Above we can see valuation ratios for Sea and what I consider to be some similar companies, though I am sure this will be a contentious point. Meli competes head-on with Sea in the eCommerce and fulfilment space. Roblox (RBLX) is an up and coming game/platform, and it is comparable to Free Fire. Shopify Inc.(NYSE:SHOP)has some unique characteristics, but it is also similar in many ways to Sea. It offers an eCommerce platform and helps merchants sell their products, and Shopify Pay is comparable to SeaMoney. Also, all of these companies are high growth companies through Sea is the best in this regard.</p><p><blockquote>上面我们可以看到 Sea 的估值比率以及我认为的一些类似公司，尽管我确信这将是一个有争议的点。Meli在电子商务和履行领域与Sea正面竞争。Roblox（RBLX）是一款冉冉升起的游戏/平台，堪比Free Fire。Shopify Inc.（纽约证券交易所股票代码：SHOP）具有一些独特的特征，但它在许多方面也与 Sea 相似。它提供了一个电子商务平台，帮助商家销售他们的产品，Shopify Pay与SeaMoney相当。此外，所有这些公司都是高成长性公司，Sea在这方面是最好的。</blockquote></p><p> In terms of P/S and EV/Sales though, Sea is cheaper than the rest of these companies, except for Meli. Also, I like the fact that Sea has a Price/Book in line with that of Shopify. Arguably these other companies could be said to be overvalued, but the idea here is to compare these companies amongst each other.</p><p><blockquote>不过，就市盈率和电动汽车销售额而言，Sea 比其他公司都便宜，除了 Meli。此外，我喜欢Sea的价格/账单与Shopify一致。可以说，这些其他公司可以说被高估了，但这里的想法是将这些公司相互比较。</blockquote></p><p> Ultimately, Sea is growing incredibly fast, and though it isn't \"profitable\", we know that it's building a business model that will be. A P/S of 14 seems attractive given all of this and the ratio is below the more recent average of around 20.</p><p><blockquote>最终，Sea 的增长速度令人难以置信，尽管它并不“盈利”，但我们知道它正在建立一种将会盈利的商业模式。考虑到所有这些，14 的市盈率似乎很有吸引力，而且该比率低于最近 20 左右的平均水平。</blockquote></p><p> <b>Other Considerations</b></p><p><blockquote><b>其他考虑因素</b></blockquote></p><p> Some investors might think that, with the Federal Reserve tightening monetary policy, this is not a good time. The first issue here would be; how long can the Fed tighten? We've seen this play out before in 2018, and we know how it ends. More importantly though, while the Fed tightens, the PBOC is loosening monetary policy, as we saw the&nbsp;key benchmark lending rate cut last week.</p><p><blockquote>一些投资者可能认为，随着美联储收紧货币政策，现在不是一个好时机。这里的第一个问题是：美联储能收紧多久？我们在2018年之前就看过这场比赛，我们知道它会如何结束。但更重要的是，在美联储收紧的同时，中国人民银行正在放松货币政策，正如我们上周看到的关键基准贷款利率下调。</blockquote></p><p> What does this mean for Sea? The effects are unclear. Easy credit in the area will help the company and its customers, but what about exchange rates? Some of these countries try to keep pegs to major currencies, so this might not change. This would suggest that South Eastern economies might have to follow the Fed in tightening monetary policy to defend this exchange rate.</p><p><blockquote>这对大海意味着什么？效果尚不清楚。该地区的宽松信贷将有助于公司及其客户，但汇率呢？其中一些国家试图保持与主要货币的挂钩，因此这种情况可能不会改变。这表明东南部经济体可能不得不跟随美联储收紧货币政策，以捍卫这一汇率。</blockquote></p><p> And lastly, what if COVID returns in full force? Again, the effects would be unclear. In many ways, Sea's business could be improved by this, even if the economy suffers overall.</p><p><blockquote>最后，如果COVID全面回归怎么办？同样，影响也不清楚。在许多方面，即使整体经济受到影响，Sea 的业务也可以因此得到改善。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Nothing much has changed for Sea Limited in recent months, except for its share price, and I'd be remiss if I didn't point out this buying opportunity. The company is expanding in all areas, and even increasing its profitability, though that is less important. I'm excited to see what 2022 holds for this stock.</p><p><blockquote>近几个月来，Sea Limited 除了股价之外没有太大变化，如果我不指出这个买入机会，那就是我的失职。该公司正在所有领域扩张，甚至提高盈利能力，尽管这并不那么重要。我很高兴看到这只股票 2022 年的走势。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: An Early Christmas Gift<blockquote>Sea Limited：一份提前的圣诞礼物</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited: An Early Christmas Gift<blockquote>Sea Limited：一份提前的圣诞礼物</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-24 14:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Sea Limited is a growing company in a growing economy.</li>  <li>At this stage, the company should be judged on its growth, not earnings.</li>  <li>The recent fall in price makes the stock look attractive when compared to similar growth stories.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f48c8d49ed462ac489fe8f5fa91f5691\" tg-width=\"1536\" tg-height=\"1031\" width=\"100%\" height=\"auto\"><span>FreshSplash/E+ via Getty Images</span></p><p><blockquote><ul><li>Sea Limited是一家在不断增长的经济中成长的公司。</li><li>现阶段，应该根据公司的增长而不是盈利来判断公司。</li><li>与类似的增长故事相比，最近的价格下跌使该股看起来很有吸引力。</li></ul><p class=\"t-img-caption\"><span>FreshSplash/E+ 来自盖蒂图片社</span></p></blockquote></p><p> <b>Thesis Summary</b></p><p><blockquote><b>论文总结</b></blockquote></p><p> Sea Limited (SE) is one of those companies that divide the room. The stock was one of the best performing of 2020/2021 but has now fallen over 30% from its all-time high following a general sell-off which has been most felt in growth stocks.</p><p><blockquote>Sea Limited (SE) 是划分房间的公司之一。该股是 2020/2021 年表现最好的股票之一，但在普遍抛售之后，该股已从历史高点下跌了 30% 以上，这种情况在成长型股票中最为明显。</blockquote></p><p> However, Sea's fundamental growth story remains strong, and the fact that it is running at a loss should not bother investors at this point. If we look at each segment individually, there's a lot to like, and an argument could be made for a much higher price than today. On a final note, Sea should also be aided by the recent policy change coming from China's Central bank, the PBOC, and overall macroeconomic trends.</p><p><blockquote>然而，Sea 的基本面增长故事仍然强劲，目前其亏损的事实不应困扰投资者。如果我们单独看每个细分市场，就会发现有很多值得喜欢的地方，而且可以争论比现在高得多的价格。最后一点，中国央行、中国人民银行和整体宏观经济趋势最近的政策变化也应该有助于Sea。</blockquote></p><p> <b>A Quick Recap</b></p><p><blockquote><b>快速回顾</b></blockquote></p><p> Sea Limited has three main segments; Digital Entertainment (Garena), Financial Services (SeaMoney) and E-commerce (Shopee). This is how they performed in the last quarter.</p><p><blockquote>Sea Limited 有三个主要部门；数字娱乐（Garena）、金融服务（SeaMoney）和电子商务（Shopee）。这就是他们上个季度的表现。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cd726650027bd5d269b8fe1f0dd0b14\" tg-width=\"1280\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：投资者介绍</span></p></blockquote></p><p> As we can see, Digital Entertainment is the only segment bringing in operating income. Meanwhile, eCommerce and Digital Finance are running at a loss. However, the growth rates at this point justify the investment. GMV for Shopee was up 81% YoY, and TPV processed through SeaMoney is up 111% YoY.</p><p><blockquote>正如我们所看到的，数字娱乐是唯一带来经营利润的细分市场。与此同时，电子商务和数字金融正在亏损。然而，目前的增长率证明了投资的合理性。Shopee 的 GMV 同比增长 81%，通过 SeaMoney 处理的 TPV 同比增长 111%。</blockquote></p><p> Despite strong growth across the board, Sea Limited has come down significantly in the last few weeks, providing us with a perfect opportunity to buy a stock with an incredibly appealing fundamental growth story.</p><p><blockquote>尽管全面增长强劲，但 Sea Limited 在过去几周大幅下跌，为我们提供了一个绝佳的机会来购买一只具有令人难以置信的吸引力的基本面增长故事的股票。</blockquote></p><p> <b>Growth And Profitability Prospects</b></p><p><blockquote><b>增长及盈利前景</b></blockquote></p><p> Firstly, let's talk about Sea's main geographical market; Southeast Asia. SEA economies are experiencing not just a fast level of growth, but also digitalization, which bodes incredibly well for SE.</p><p><blockquote>首先，我们来谈谈Sea的主要地理市场；东南亚。海洋经济不仅正在经历快速增长，而且正在经历数字化，这对东南亚来说是一个非常好的兆头。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/626a6dc7b34175282aeba7740413ede1\" tg-width=\"1280\" tg-height=\"521\" width=\"100%\" height=\"auto\"><span>Source: SEA Economy Report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：海洋经济报告</span></p></blockquote></p><p> By 2025, the Internet economy is poised to reach over $300 billion in GMV. Indonesia, Vietnam and Thailand will be amongst the fastest growing Internet economies, and these are all areas where the company has a strong presence. On top of that, Sea is also expanding into Latin America, where it has challenged and surpassed MercadoLibre (MELI) in some&nbsp;countries like Brazil.</p><p><blockquote>到2025年，互联网经济的GMV有望超过3000亿美元。印度尼西亚、越南和泰国将成为增长最快的互联网经济体，这些都是该公司拥有强大影响力的地区。最重要的是，Sea 还在向拉丁美洲扩张，在巴西等一些国家挑战并超越了 MercadoLibre (MELI)。</blockquote></p><p> Shopee and SeaMoney will grow hand in hand. As Shopee grows, more merchants and consumers will be pulled into the SeaMoney ecosystem, which not only allows digital payments but also helps merchants and consumers get financing. Of course, at the moment the company is focusing on expansion, but we know full well that both eCommerce and Digital Finance can be lucrative segments.</p><p><blockquote>Shopee和SeaMoney将携手成长。随着Shopee的发展，更多的商家和消费者将被拉入SeaMoney生态系统，该生态系统不仅允许数字支付，还可以帮助商家和消费者获得融资。当然，目前该公司正专注于扩张，但我们非常清楚电子商务和数字金融都可能是利润丰厚的领域。</blockquote></p><p> Garena, which is responsible for creating Free Fire, is on another path. User growth is slowing down, this is true, but there is still plenty of room for monetization. The company has made moves in the right direction here by releasing Free Fire MAX, a premium version of the game. In a recent article on Seeking Alpha,JR Research pointed out&nbsp;that Garena continues to increase the proportion of paying users to active users, which are also growing, albeit at a slower rate.</p><p><blockquote>负责创造Free Fire的Garena正在走另一条道路。用户增长放缓，这是事实，但变现空间依然很大。该公司在这方面朝着正确的方向迈出了一步，发布了该游戏的高级版本Free Fire MAX。JR Research 在最近一篇关于 Seeking Alpha 的文章中指出，Garena 继续提高付费用户与活跃用户的比例，这些用户也在增长，尽管速度较慢。</blockquote></p><p> <b>Comparative Valuation</b></p><p><blockquote><b>比较估值</b></blockquote></p><p> With all that said, I do feel like sometimes Sea Limited gets judged unfairly, precisely because it has such a successful and profitable segment thanks to Free Fire. Investors often look at Sea's earnings and complain that they aren't growing fast enough, but this is not the company's objective. If Shopee or SeaMoney traded separately as \"exciting and fast-growing start-ups\" investors would be much less harsh with the valuation.</p><p><blockquote>综上所述，我确实觉得有时 Sea Limited 会受到不公平的评判，正是因为 Free Fire 拥有如此成功且盈利的细分市场。投资者经常查看 Sea 的盈利并抱怨其增长速度不够快，但这不是该公司的目标。如果 Shopee 或 SeaMoney 作为“令人兴奋且快速增长的初创企业”单独交易，投资者对估值的要求就不会那么苛刻了。</blockquote></p><p> Sea Limited is a growth company in a growth economy, and it should be judged on its growth and revenue, not on its earnings:</p><p><blockquote>Sea Limited 是一家成长型经济体中的成长型公司，应该根据其增长和收入来判断，而不是根据其盈利来判断：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dabf7759dd81e88d0603fc2f17137235\" tg-width=\"905\" tg-height=\"313\" width=\"100%\" height=\"auto\"><span>Data Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：Seeking Alpha</span></p></blockquote></p><p></p><p> Above we can see valuation ratios for Sea and what I consider to be some similar companies, though I am sure this will be a contentious point. Meli competes head-on with Sea in the eCommerce and fulfilment space. Roblox (RBLX) is an up and coming game/platform, and it is comparable to Free Fire. Shopify Inc.(NYSE:SHOP)has some unique characteristics, but it is also similar in many ways to Sea. It offers an eCommerce platform and helps merchants sell their products, and Shopify Pay is comparable to SeaMoney. Also, all of these companies are high growth companies through Sea is the best in this regard.</p><p><blockquote>上面我们可以看到 Sea 的估值比率以及我认为的一些类似公司，尽管我确信这将是一个有争议的点。Meli在电子商务和履行领域与Sea正面竞争。Roblox（RBLX）是一款冉冉升起的游戏/平台，堪比Free Fire。Shopify Inc.（纽约证券交易所股票代码：SHOP）具有一些独特的特征，但它在许多方面也与 Sea 相似。它提供了一个电子商务平台，帮助商家销售他们的产品，Shopify Pay与SeaMoney相当。此外，所有这些公司都是高成长性公司，Sea在这方面是最好的。</blockquote></p><p> In terms of P/S and EV/Sales though, Sea is cheaper than the rest of these companies, except for Meli. Also, I like the fact that Sea has a Price/Book in line with that of Shopify. Arguably these other companies could be said to be overvalued, but the idea here is to compare these companies amongst each other.</p><p><blockquote>不过，就市盈率和电动汽车销售额而言，Sea 比其他公司都便宜，除了 Meli。此外，我喜欢Sea的价格/账单与Shopify一致。可以说，这些其他公司可以说被高估了，但这里的想法是将这些公司相互比较。</blockquote></p><p> Ultimately, Sea is growing incredibly fast, and though it isn't \"profitable\", we know that it's building a business model that will be. A P/S of 14 seems attractive given all of this and the ratio is below the more recent average of around 20.</p><p><blockquote>最终，Sea 的增长速度令人难以置信，尽管它并不“盈利”，但我们知道它正在建立一种将会盈利的商业模式。考虑到所有这些，14 的市盈率似乎很有吸引力，而且该比率低于最近 20 左右的平均水平。</blockquote></p><p> <b>Other Considerations</b></p><p><blockquote><b>其他考虑因素</b></blockquote></p><p> Some investors might think that, with the Federal Reserve tightening monetary policy, this is not a good time. The first issue here would be; how long can the Fed tighten? We've seen this play out before in 2018, and we know how it ends. More importantly though, while the Fed tightens, the PBOC is loosening monetary policy, as we saw the&nbsp;key benchmark lending rate cut last week.</p><p><blockquote>一些投资者可能认为，随着美联储收紧货币政策，现在不是一个好时机。这里的第一个问题是：美联储能收紧多久？我们在2018年之前就看过这场比赛，我们知道它会如何结束。但更重要的是，在美联储收紧的同时，中国人民银行正在放松货币政策，正如我们上周看到的关键基准贷款利率下调。</blockquote></p><p> What does this mean for Sea? The effects are unclear. Easy credit in the area will help the company and its customers, but what about exchange rates? Some of these countries try to keep pegs to major currencies, so this might not change. This would suggest that South Eastern economies might have to follow the Fed in tightening monetary policy to defend this exchange rate.</p><p><blockquote>这对大海意味着什么？效果尚不清楚。该地区的宽松信贷将有助于公司及其客户，但汇率呢？其中一些国家试图保持与主要货币的挂钩，因此这种情况可能不会改变。这表明东南部经济体可能不得不跟随美联储收紧货币政策，以捍卫这一汇率。</blockquote></p><p> And lastly, what if COVID returns in full force? Again, the effects would be unclear. In many ways, Sea's business could be improved by this, even if the economy suffers overall.</p><p><blockquote>最后，如果COVID全面回归怎么办？同样，影响也不清楚。在许多方面，即使整体经济受到影响，Sea 的业务也可以因此得到改善。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Nothing much has changed for Sea Limited in recent months, except for its share price, and I'd be remiss if I didn't point out this buying opportunity. The company is expanding in all areas, and even increasing its profitability, though that is less important. I'm excited to see what 2022 holds for this stock.</p><p><blockquote>近几个月来，Sea Limited 除了股价之外没有太大变化，如果我不指出这个买入机会，那就是我的失职。该公司正在所有领域扩张，甚至提高盈利能力，尽管这并不那么重要。我很高兴看到这只股票 2022 年的走势。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4476595-sea-limited-an-early-christmas-gift\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4476595-sea-limited-an-early-christmas-gift","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107827800","content_text":"Summary\n\nSea Limited is a growing company in a growing economy.\nAt this stage, the company should be judged on its growth, not earnings.\nThe recent fall in price makes the stock look attractive when compared to similar growth stories.\n\nFreshSplash/E+ via Getty Images\nThesis Summary\nSea Limited (SE) is one of those companies that divide the room. The stock was one of the best performing of 2020/2021 but has now fallen over 30% from its all-time high following a general sell-off which has been most felt in growth stocks.\nHowever, Sea's fundamental growth story remains strong, and the fact that it is running at a loss should not bother investors at this point. If we look at each segment individually, there's a lot to like, and an argument could be made for a much higher price than today. On a final note, Sea should also be aided by the recent policy change coming from China's Central bank, the PBOC, and overall macroeconomic trends.\nA Quick Recap\nSea Limited has three main segments; Digital Entertainment (Garena), Financial Services (SeaMoney) and E-commerce (Shopee). This is how they performed in the last quarter.\nSource: Investor Presentation\nAs we can see, Digital Entertainment is the only segment bringing in operating income. Meanwhile, eCommerce and Digital Finance are running at a loss. However, the growth rates at this point justify the investment. GMV for Shopee was up 81% YoY, and TPV processed through SeaMoney is up 111% YoY.\nDespite strong growth across the board, Sea Limited has come down significantly in the last few weeks, providing us with a perfect opportunity to buy a stock with an incredibly appealing fundamental growth story.\nGrowth And Profitability Prospects\nFirstly, let's talk about Sea's main geographical market; Southeast Asia. SEA economies are experiencing not just a fast level of growth, but also digitalization, which bodes incredibly well for SE.\nSource: SEA Economy Report\nBy 2025, the Internet economy is poised to reach over $300 billion in GMV. Indonesia, Vietnam and Thailand will be amongst the fastest growing Internet economies, and these are all areas where the company has a strong presence. On top of that, Sea is also expanding into Latin America, where it has challenged and surpassed MercadoLibre (MELI) in some countries like Brazil.\nShopee and SeaMoney will grow hand in hand. As Shopee grows, more merchants and consumers will be pulled into the SeaMoney ecosystem, which not only allows digital payments but also helps merchants and consumers get financing. Of course, at the moment the company is focusing on expansion, but we know full well that both eCommerce and Digital Finance can be lucrative segments.\nGarena, which is responsible for creating Free Fire, is on another path. User growth is slowing down, this is true, but there is still plenty of room for monetization. The company has made moves in the right direction here by releasing Free Fire MAX, a premium version of the game. In a recent article on Seeking Alpha,JR Research pointed out that Garena continues to increase the proportion of paying users to active users, which are also growing, albeit at a slower rate.\nComparative Valuation\nWith all that said, I do feel like sometimes Sea Limited gets judged unfairly, precisely because it has such a successful and profitable segment thanks to Free Fire. Investors often look at Sea's earnings and complain that they aren't growing fast enough, but this is not the company's objective. If Shopee or SeaMoney traded separately as \"exciting and fast-growing start-ups\" investors would be much less harsh with the valuation.\nSea Limited is a growth company in a growth economy, and it should be judged on its growth and revenue, not on its earnings:\nData Source: Seeking Alpha\nAbove we can see valuation ratios for Sea and what I consider to be some similar companies, though I am sure this will be a contentious point. Meli competes head-on with Sea in the eCommerce and fulfilment space. Roblox (RBLX) is an up and coming game/platform, and it is comparable to Free Fire. Shopify Inc.(NYSE:SHOP)has some unique characteristics, but it is also similar in many ways to Sea. It offers an eCommerce platform and helps merchants sell their products, and Shopify Pay is comparable to SeaMoney. Also, all of these companies are high growth companies through Sea is the best in this regard.\nIn terms of P/S and EV/Sales though, Sea is cheaper than the rest of these companies, except for Meli. Also, I like the fact that Sea has a Price/Book in line with that of Shopify. Arguably these other companies could be said to be overvalued, but the idea here is to compare these companies amongst each other.\nUltimately, Sea is growing incredibly fast, and though it isn't \"profitable\", we know that it's building a business model that will be. A P/S of 14 seems attractive given all of this and the ratio is below the more recent average of around 20.\nOther Considerations\nSome investors might think that, with the Federal Reserve tightening monetary policy, this is not a good time. The first issue here would be; how long can the Fed tighten? We've seen this play out before in 2018, and we know how it ends. More importantly though, while the Fed tightens, the PBOC is loosening monetary policy, as we saw the key benchmark lending rate cut last week.\nWhat does this mean for Sea? The effects are unclear. Easy credit in the area will help the company and its customers, but what about exchange rates? Some of these countries try to keep pegs to major currencies, so this might not change. This would suggest that South Eastern economies might have to follow the Fed in tightening monetary policy to defend this exchange rate.\nAnd lastly, what if COVID returns in full force? Again, the effects would be unclear. In many ways, Sea's business could be improved by this, even if the economy suffers overall.\nTakeaway\nNothing much has changed for Sea Limited in recent months, except for its share price, and I'd be remiss if I didn't point out this buying opportunity. The company is expanding in all areas, and even increasing its profitability, though that is less important. I'm excited to see what 2022 holds for this stock.","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":4278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698804951,"gmtCreate":1640330423325,"gmtModify":1640330423546,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698804951","repostId":"1126440728","repostType":2,"repost":{"id":"1126440728","kind":"news","pubTimestamp":1640327378,"share":"https://www.laohunote.com/m/news/1126440728?lang=zh_CN&edition=full","pubTime":"2021-12-24 14:29","market":"us","language":"en","title":"10 Best Value Stocks to Buy for 2022<blockquote>2022 年最值得购买的 10 只价值股票</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1126440728","media":"U.S. News & World Report","summary":"These cheaply priced value stocks should deliver solid results next year.","content":"<p>These cheaply priced value stocks should deliver solid results next year.</p><p><blockquote>这些价格低廉的价值股明年应该会带来稳健的业绩。</blockquote></p><p> In an expensive stock market trading near record highs, it's not easy to pay up for growth stocks. And, as the past few months have shown, there's a lot of risk in chasing the high-fliers. There have been huge sell-offs in&nbsp;special-purpose acquisition companies, software stocks and electric vehicle firms, among others. As such, many investors are looking to more defensive value companies for 2022. There are numerous definitions of a value stock. Many investors use book value, relative valuations compared to the sector, free cash flow or valuations compared to a historical mean, among other metrics. However, for the sake of this list, the criteria of 15 times forward earnings will be the barometer. Any stock trading for less than that threshold is eligible, and anything over that number is excluded. With that definition set, here are 10 of the best value stocks to buy for 2022.</p><p><blockquote>在接近历史高点的昂贵股市中，购买成长型股票并不容易。而且，正如过去几个月所表明的那样，追逐雄心勃勃的人存在很大的风险。特殊目的收购公司、软件股和电动汽车公司等都出现了巨额抛售。因此，许多投资者正在寻找 2022 年更具防御性的价值公司。价值股有多种定义。许多投资者使用账面价值、与行业相比的相对估值、自由现金流或与历史平均值相比的估值等指标。不过，为了这份清单，15倍远期市盈率的标准将是晴雨表。任何低于该阈值的股票交易都有资格，任何超过该阈值的股票交易都被排除在外。有了这个定义，以下是 2022 年最值得购买的 10 只股票。</blockquote></p><p> <b>Verizon Communications Inc. (ticker:VZ)</b></p><p><blockquote><b>Verizon 通信公司（股票代码：VZ）</b></blockquote></p><p> It's not glamorous, but for investors seeking a safe and cheap high-yield stock, the telecom industry isn't a bad place to look. Specifically, Verizon offers a lot of appeal after an underwhelming 2021. The company has spent most of the past five years trading between $50 and $60 per share. The stock doesn't move quickly. And an inability to capitalize on the 5G upgrade cycle until now has squashed what little momentum Verizon may have had. At some point, however, the&nbsp;5G investments&nbsp;should start to pay dividends. In the meantime, Verizon continues to enjoy incredible cash flows from its core business. The stock won't deliver big overnight returns, but it's got a steady 4.9% dividend yield with some upside potential given its bona fide value-stock status at 10 times earnings.</p><p><blockquote>它并不迷人，但对于寻求安全且廉价的高收益股票的投资者来说，电信行业并不是一个不错的选择。具体来说，威瑞森在经历了令人印象深刻的2021年之后提供了很多吸引力。该公司过去五年的大部分时间都在每股 50 美元至 60 美元之间。股票波动不快。到目前为止，未能利用 5G 升级周期已经压垮了 Verizon 可能拥有的一点动力。然而，在某个时候，5G 投资应该会开始产生红利。与此同时，威瑞森继续从其核心业务中获得令人难以置信的现金流。该股不会带来高额隔夜回报，但鉴于其真正的价值股地位（市盈率为 10 倍），其股息收益率稳定为 4.9%，具有一定的上涨潜力。</blockquote></p><p> <b>Goldman Sachs Group Inc. (GS)</b></p><p><blockquote><b>高盛集团公司 (GS)</b></blockquote></p><p> On the surface, Goldman Sachs looks like one of the absolute cheapest stocks on this list. GS stock is trading for just 6.3 times trailing earnings. That's in large part due to just how phenomenal 2021 was for the bank. Goldman Sachs saw improving loan market conditions, a boom in investment banking fees and improving results from its wealth management services division. Building on that momentum, Goldman Sachs recently lifted its outlook and profit margin targets through 2025. There is some risk of things cooling off a bit in 2022; analysts forecast a normalization in earnings after 2021's euphoria. Even so, based on a more conservative outlook for next year, analysts have the stock trading for under 10 times forward earnings. That's a bargain. The bank pays a fine 2.1% dividend too, and with the Federal Reserve looking to hike interest rates, earnings may surprise once again to the upside.</p><p><blockquote>从表面上看，高盛看起来是这份名单上绝对最便宜的股票之一。GS 股票的交易价格仅为历史市盈率的 6.3 倍。这在很大程度上是由于 2021 年对该银行来说是多么惊人。高盛看到贷款市场状况改善、投资银行手续费激增以及其财富管理服务部门业绩改善。在这一势头的基础上，高盛最近提高了其到 2025 年的前景和利润率目标。2022年情况有一些降温的风险；分析师预测，在 2021 年的兴奋之后，盈利将正常化。即便如此，基于对明年更保守的展望，分析师认为该股的交易价格不到预期市盈率的 10 倍。很便宜。该银行还支付了 2.1% 的高额股息，随着美联储寻求加息，盈利可能会再次意外上升。</blockquote></p><p> <b>Wells Fargo &amp; Co. (WFC)</b></p><p><blockquote><b>富国银行 (WFC)</b></blockquote></p><p> Goldman isn't the only bank stock to grace the list of the best value stocks to buy for 2022. Wells Fargo is another top option. Deep value investors might scoff. After all, Wells Fargo stock jumped more than 50% in 2021. So how is it still cheap now? The answer is that Wells Fargo faced a one-two punch in recent years. It had to deal with the legacy of its fraudulent-accounts scandal and a potential economic disaster induced by COVID-19. Bank stocks, as a sector, have regained their early pandemic losses as the anticipated credit losses failed to materialize. However, Wells Fargo still has additional upside as it resolves its reputational issues. The company's CEO has a roadmap to cutting at least $8 billion per year in overhead over the next few years. This will give Wells Fargo a huge earnings boost. The stock is trading at 12 times forward earnings.</p><p><blockquote>高盛并不是唯一一只入选 2022 年最佳价值股票名单的银行股。富国银行是另一个首选。深度价值投资者可能会嗤之以鼻。毕竟，富国银行股价在 2021 年上涨了 50% 以上。那么现在怎么还便宜呢？答案是，富国银行近年来面临一拳二拳。它不得不处理欺诈账户丑闻的遗留问题以及 COVID-19 引发的潜在经济灾难。由于预期的信贷损失未能实现，银行股作为一个板块已经收复了疫情初期的损失。然而，富国银行在解决其声誉问题时仍有额外的上涨空间。该公司首席执行官制定了未来几年每年至少削减 80 亿美元管理费用的路线图。这将为富国银行带来巨大的盈利增长。该股的交易价格为远期市盈率的 12 倍。</blockquote></p><p> <b>Ford Motor Co. (F)</b></p><p><blockquote><b>福特汽车公司 (F)</b></blockquote></p><p> Could Ford become a momentum stock? It's certainly looking more and more possible with every passing month. The venerable automaker has suddenly become a hot property: Ford's shares doubled in 2021. Even after doing so, however, Ford remains an inexpensive value stock, selling for less than 11 times forward earnings. Investors finally seem to be waking up to the fact that the traditional automakers are actually rather competitive on electric vehicles. As the herd of new&nbsp;electric vehicle companies&nbsp;lost their luster in 2021, stocks like Ford suddenly took flight. A company like Ford is a much safer bet than a firm with a huge valuation but minimal revenues as of yet, such as Rivian Automotive Inc. (RIVN). And since Ford already has tremendous profitability, it can reward shareholders with a 2% dividend and a sense of stability while waiting to see how the firm's electric vehicle evolution proceeds.</p><p><blockquote>福特能成为动量股吗？随着时间的推移，这看起来越来越有可能。这家古老的汽车制造商突然成为热门资产：福特的股价在 2021 年翻了一番。然而，即便如此，福特仍然是一只廉价的价值股，其售价不到预期市盈率的 11 倍。投资者似乎终于意识到，传统汽车制造商在电动汽车方面实际上相当有竞争力。随着一大批新电动汽车公司在 2021 年失去光彩，福特等股票突然起飞。像福特公司这样的公司比Rivian汽车公司（RIVN）等估值巨大但迄今为止收入微薄的公司要安全得多。由于福特已经拥有巨大的盈利能力，它可以在等待公司电动汽车发展进展的同时，向股东提供 2% 的股息和稳定感。</blockquote></p><p> <b>Fidelity National Information Services Inc. (FIS)</b></p><p><blockquote><b>富达国家信息服务公司 (FIS)</b></blockquote></p><p></p><p> Fidelity Information Services is a diversified financials, payments and information technology company. It's one of the fastest-growing companies on this list, as analysts see the company growing earnings at 13% per year in 2022 and 2023. Despite that, amid the sell-off in the payments stock sector, Fidelity Information Services fell about 25% in 2021 and thus has fallen squarely into the bucket of top value stocks to invest in, as shares trade at just 14 times estimated 2022 earnings. This appears to be around general worries of fintech disrupting legacy payments firms. However, Fidelity Information Services should dodge that risk, as it's a diversified business spanning countless lines of payments businesses. It has high-profile new-economy clients such as PayPal Holdings Inc. (PYPL), Klarna, Amazon.com Inc. (AMZN) and Crypto.com, and deals tend to be multiyear recurring revenue streams. Long story short, rumors of this company's demise have been greatly exaggerated, leading to an opportune entry point for 2022.</p><p><blockquote>富达信息服务是一家多元化的金融、支付和信息技术公司。它是该榜单上增长最快的公司之一，分析师认为该公司在 2022 年和 2023 年的盈利年增长率为 13%。尽管如此，在支付股板块的抛售中，富达信息服务公司 (Fidelity Information Services) 在 2021 年下跌了约 25%，因此完全落入了值得投资的最高价值股票之列，因为该股的交易价格仅为 2022 年预期收益的 14 倍。这似乎是关于金融科技扰乱传统支付公司的普遍担忧。然而，富达信息服务应该规避这种风险，因为这是一项跨越无数支付业务的多元化业务。它拥有PayPal控股公司 (PYPL)、Klarna、亚马逊公司 (AMZN) 和 Crypto.com 等知名新经济客户，并且交易往往是多年经常性收入流。长话短说，有关这家公司消亡的传言被大大夸大了，导致了 2022 年的合适切入点。</blockquote></p><p> <b>International Business Machines Corp. (IBM)</b></p><p><blockquote><b>国际商业机器公司 (IBM)</b></blockquote></p><p> IBM certainly missed much of the last decade's big innovations in the technology sector. The tech giant was once the largest company in the world by market capitalization. It's not on the same scale today. However, many investors have written the firm off prematurely. The company remains an absolute cash flow machine with its core consulting and services business. It's not glamorous, but it is highly profitable. The company is active in growth sectors, as well. It has one of the most advanced&nbsp;artificial intelligence&nbsp;programs in the world. Commercialization has been slow, but if IBM solves that issue, it would be a game-changer. In the meantime, the company's Red Hat purchase gave it a big boost in on-trend categories such as cloud computing and virtualization. IBM still faces structural headwinds, to be sure. But at a 12 times forward P-E ratio and 5.1% dividend yield, the price is certainly right to give IBM's turnaround story a chance.</p><p><blockquote>IBM当然错过了过去十年技术领域的许多重大创新。这家科技巨头曾经是世界上市值最大的公司。今天的规模不一样了。然而，许多投资者过早地注销了该公司。该公司凭借其核心咨询和服务业务仍然是绝对的现金流机器。它并不光鲜，但利润丰厚。该公司也活跃于成长型行业。它拥有世界上最先进的人工智能程序之一。商业化进展缓慢，但如果IBM解决了这个问题，它将改变游戏规则。与此同时，该公司对 Red Hat 的收购极大地推动了云计算和虚拟化等热门类别的发展。可以肯定的是，IBM 仍然面临结构性阻力。但以 12 倍的远期市盈率和 5.1% 的股息收益率来看，这个价格肯定是合适的，可以给 IBM 的扭亏为盈故事一个机会。</blockquote></p><p> <b>Gilead Sciences Inc. (GILD)</b></p><p><blockquote><b>吉利德科学公司 (GILD)</b></blockquote></p><p> Investors have labeled Gilead Sciences a value trap. That's because the stock has gone nowhere for the past five years despite appearing to be cheap. This is understandable. Gilead rose to prominence from a highly successful set of drugs to treat hepatitis C. Gilead was unable to immediately follow up that product line with a second act, causing the company's revenues, earnings and stock price to stall out. Seemingly under the radar, however, Gilead has snapped out of its slump. Analysts are modeling double-digit growth in 2022 as Gilead's clinical pipeline and acquisitions are kicking into gear.Biotech investing&nbsp;is always subject to a certain degree of luck depending on clinical trial outcomes. However, with earnings set to jump, Gilead looks attractive at 10 times forward earnings and with a 4% dividend yield.</p><p><blockquote>投资者将吉利德科学称为价值陷阱。这是因为尽管该股看起来很便宜，但在过去五年中却一事无成。这是可以理解的。吉利德从一系列非常成功的治疗丙型肝炎的药物中脱颖而出。吉利德无法立即采取第二种行动来跟进该产品线，导致该公司的收入、盈利和股价停滞不前。然而，看似不为人知的吉利德已经摆脱了低迷。随着吉利德的临床管道和收购开始启动，分析师预计 2022 年将实现两位数增长。生物技术投资总是取决于临床试验结果，取决于一定程度的运气。然而，随着盈利将大幅增长，吉利德的预期市盈率为 10 倍，股息收益率为 4%，看起来很有吸引力。</blockquote></p><p> <b>FedEx Corp. (FDX)</b></p><p><blockquote><b>联邦快递公司 (FDX)</b></blockquote></p><p> FedEx fell victim to a post-pandemic slump. Shares had surged in 2020 as soaring e-commerce demand led to unprecedented need for FedEx's delivery and logistics services. Previously, investors had worried that Amazon would steal market share from FedEx. With the rise of quarantine shopping in 2020, however, there were more than enough packages to keep everyone busy. 2021 was more difficult, though. Labor shortages and surging wages made it difficult to keep the workforce ready at a reasonable cost. Soaring fuel prices crimped profit margins. And port closures, vaccine mandates and other outside factors added further layers of complexity to FedEx's business. Despite all that, FedEx is still going for just 12 times forward earnings. While the headwinds are real, the company's earnings more than offset them. To that end, FedEx just announced a $1.5 billion accelerated share repurchase program to sop up company stock while it's cheap. As if that weren't enough, JPMorgan Chase analysts labeled FedEx stock one of their top transportation picks for 2022.</p><p><blockquote>联邦快递成为大流行后经济衰退的受害者。由于电子商务需求飙升，对联邦快递的递送和物流服务产生了前所未有的需求，2020 年股价飙升。此前，投资者曾担心亚马逊会从联邦快递手中抢走市场份额。然而，随着2020年隔离购物的兴起，有足够多的包裹让每个人都忙个不停。不过，2021 年更加困难。劳动力短缺和工资飙升使得很难以合理的成本让劳动力做好准备。燃油价格飙升压缩了利润率。港口关闭、疫苗强制和其他外部因素给联邦快递的业务增加了更多的复杂性。尽管如此，联邦快递的预期市盈率仍然只有 12 倍。虽然逆风是真实存在的，但该公司的盈利足以抵消这些逆风。为此，联邦快递刚刚宣布了一项 15 亿美元的加速股票回购计划，以在公司股票便宜时吸收其股票。似乎这还不够，摩根大通分析师将联邦快递股票列为他们 2022 年的首选运输股票之一。</blockquote></p><p> <b>Kroger Co. (KR)</b></p><p><blockquote><b>克罗格公司 (KR)</b></blockquote></p><p> Like FedEx, Kroger found itself in a complicated situation thanks to the pandemic. Initially, Kroger delivered strong growth as consumers stocked up their pantries at the start of the lockdowns. In addition, Kroger has invested heavily in&nbsp;e-commerce, warehouses and logistics over the past few years. It's not just a sleepy grocery store chain anymore. In a crisis, Kroger was able to demonstrate its capabilities with delivery orders and gain the trust of a new generation of consumers. 2021 was more complicated, though. Labor shortages and supply chain problems caused Kroger significant profitability headwinds. In addition, the general inflationary wave forced Kroger and its suppliers to raise prices dramatically, potentially damaging the consumer relationship. For the longer term, Kroger's investments in logistics should keep it on the right road, and at 13 times forward earnings, the stock is hardly priced for perfection.</p><p><blockquote>与联邦快递一样，由于疫情，克罗格发现自己陷入了复杂的境地。最初，随着消费者在封锁开始时囤积储藏室，克罗格实现了强劲的增长。此外，克罗格过去几年在电子商务、仓储和物流方面进行了大量投资。它不再只是一家昏昏欲睡的连锁杂货店。在危机中，克罗格能够用送货订单展示自己的能力，赢得新一代消费者的信任。不过，2021 年更加复杂。劳动力短缺和供应链问题给克罗格带来了严重的盈利能力阻力。此外，普遍的通胀浪潮迫使克罗格及其供应商大幅提高价格，可能会损害消费者关系。从长远来看，克罗格在物流方面的投资应该会让其走在正确的道路上，以 13 倍的远期市盈率计算，该股的定价很难完美。</blockquote></p><p></p><p> <b>ExxonMobil Corp. (XOM)</b></p><p><blockquote><b>埃克森美孚公司（XOM）</b></blockquote></p><p> ExxonMobil is enjoying a long-overdue comeback. Exxon stock suffered a six-year downturn between 2014 and 2020, with the stock plummeting from $100 to its ultimate low around $30 during the pandemic. The price of natural gas slumped, while oil did it one better: Crude briefly tumbled below $0 per barrel during the height of the COVID-19 crisis. However, as the adage goes, the cure for low prices is low prices. With oil down for so long, producers stopped putting much capital into new projects. As a result, the supply of oil has become less certain, while demand for oil has come surging back as the world economy reopens. Government regulation and socially conscious investors have further made it difficult to drill for new oil. This puts existing producers with low-cost fields, like ExxonMobil, in the driver's seat. The stock is selling at just 11 times earnings heading into 2022, while paying out a nearly 6% dividend yield.</p><p><blockquote>埃克森美孚正在享受期待已久的卷土重来。埃克森美孚股价在 2014 年至 2020 年间经历了长达六年的低迷，该股在疫情期间从 100 美元暴跌至 30 美元左右的最终低点。天然气价格暴跌，而石油价格则好得多：在 COVID-19 危机最严重的时候，原油价格曾短暂跌破每桶 0 美元。然而，俗话说，治疗低价的良药就是低价。由于石油价格长期下跌，生产商不再向新项目投入大量资金。因此，石油供应变得不那么确定，而随着世界经济重新开放，石油需求又激增。政府监管和有社会意识的投资者进一步增加了钻探新石油的难度。这使得埃克森美孚等拥有低成本油田的现有生产商处于主导地位。到 2022 年，该股的市盈率仅为 11 倍，同时支付近 6% 的股息收益率。</blockquote></p><p> 10 best value stocks to buy for 2022:</p><p><blockquote>2022 年最值得购买的 10 只价值股票：</blockquote></p><p> <ul>  <li>Verizon Communications Inc. (VZ)</li>  <li>Goldman Sachs Group Inc. (GS)</li>  <li>Wells Fargo &amp; Co. (WFC)</li>  <li>Ford Motor Co. (F)</li>  <li>Fidelity National Information Services Inc. (FIS)</li>  <li>International Business Machines Corp. (IBM)</li>  <li>Gilead Sciences Inc. (GILD)</li>  <li>FedEx Corp. (FDX)</li>  <li>Kroger Co. (KR)</li>  <li>ExxonMobil Corp. (XOM)</li> </ul></p><p><blockquote><ul><li>威瑞森通信公司 (VZ)</li><li>高盛集团公司 (GS)</li><li>富国银行 (WFC)</li><li>福特汽车公司 (F)</li><li>富达国家信息服务公司 (FIS)</li><li>国际商业机器公司 (IBM)</li><li>吉利德科学公司 (GILD)</li><li>联邦快递公司 (FDX)</li><li>克罗格公司 (KR)</li><li>埃克森美孚公司（XOM）</li></ul></blockquote></p><p></p>","source":"lsy1640327374585","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>10 Best Value Stocks to Buy for 2022<blockquote>2022 年最值得购买的 10 只价值股票</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n10 Best Value Stocks to Buy for 2022<blockquote>2022 年最值得购买的 10 只价值股票</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">U.S. News & World Report</strong><span class=\"h-time small\">2021-12-24 14:29</span>\n</p>\n</h4>\n</header>\n<article>\n<p>These cheaply priced value stocks should deliver solid results next year.</p><p><blockquote>这些价格低廉的价值股明年应该会带来稳健的业绩。</blockquote></p><p> In an expensive stock market trading near record highs, it's not easy to pay up for growth stocks. And, as the past few months have shown, there's a lot of risk in chasing the high-fliers. There have been huge sell-offs in&nbsp;special-purpose acquisition companies, software stocks and electric vehicle firms, among others. As such, many investors are looking to more defensive value companies for 2022. There are numerous definitions of a value stock. Many investors use book value, relative valuations compared to the sector, free cash flow or valuations compared to a historical mean, among other metrics. However, for the sake of this list, the criteria of 15 times forward earnings will be the barometer. Any stock trading for less than that threshold is eligible, and anything over that number is excluded. With that definition set, here are 10 of the best value stocks to buy for 2022.</p><p><blockquote>在接近历史高点的昂贵股市中，购买成长型股票并不容易。而且，正如过去几个月所表明的那样，追逐雄心勃勃的人存在很大的风险。特殊目的收购公司、软件股和电动汽车公司等都出现了巨额抛售。因此，许多投资者正在寻找 2022 年更具防御性的价值公司。价值股有多种定义。许多投资者使用账面价值、与行业相比的相对估值、自由现金流或与历史平均值相比的估值等指标。不过，为了这份清单，15倍远期市盈率的标准将是晴雨表。任何低于该阈值的股票交易都有资格，任何超过该阈值的股票交易都被排除在外。有了这个定义，以下是 2022 年最值得购买的 10 只股票。</blockquote></p><p> <b>Verizon Communications Inc. (ticker:VZ)</b></p><p><blockquote><b>Verizon 通信公司（股票代码：VZ）</b></blockquote></p><p> It's not glamorous, but for investors seeking a safe and cheap high-yield stock, the telecom industry isn't a bad place to look. Specifically, Verizon offers a lot of appeal after an underwhelming 2021. The company has spent most of the past five years trading between $50 and $60 per share. The stock doesn't move quickly. And an inability to capitalize on the 5G upgrade cycle until now has squashed what little momentum Verizon may have had. At some point, however, the&nbsp;5G investments&nbsp;should start to pay dividends. In the meantime, Verizon continues to enjoy incredible cash flows from its core business. The stock won't deliver big overnight returns, but it's got a steady 4.9% dividend yield with some upside potential given its bona fide value-stock status at 10 times earnings.</p><p><blockquote>它并不迷人，但对于寻求安全且廉价的高收益股票的投资者来说，电信行业并不是一个不错的选择。具体来说，威瑞森在经历了令人印象深刻的2021年之后提供了很多吸引力。该公司过去五年的大部分时间都在每股 50 美元至 60 美元之间。股票波动不快。到目前为止，未能利用 5G 升级周期已经压垮了 Verizon 可能拥有的一点动力。然而，在某个时候，5G 投资应该会开始产生红利。与此同时，威瑞森继续从其核心业务中获得令人难以置信的现金流。该股不会带来高额隔夜回报，但鉴于其真正的价值股地位（市盈率为 10 倍），其股息收益率稳定为 4.9%，具有一定的上涨潜力。</blockquote></p><p> <b>Goldman Sachs Group Inc. (GS)</b></p><p><blockquote><b>高盛集团公司 (GS)</b></blockquote></p><p> On the surface, Goldman Sachs looks like one of the absolute cheapest stocks on this list. GS stock is trading for just 6.3 times trailing earnings. That's in large part due to just how phenomenal 2021 was for the bank. Goldman Sachs saw improving loan market conditions, a boom in investment banking fees and improving results from its wealth management services division. Building on that momentum, Goldman Sachs recently lifted its outlook and profit margin targets through 2025. There is some risk of things cooling off a bit in 2022; analysts forecast a normalization in earnings after 2021's euphoria. Even so, based on a more conservative outlook for next year, analysts have the stock trading for under 10 times forward earnings. That's a bargain. The bank pays a fine 2.1% dividend too, and with the Federal Reserve looking to hike interest rates, earnings may surprise once again to the upside.</p><p><blockquote>从表面上看，高盛看起来是这份名单上绝对最便宜的股票之一。GS 股票的交易价格仅为历史市盈率的 6.3 倍。这在很大程度上是由于 2021 年对该银行来说是多么惊人。高盛看到贷款市场状况改善、投资银行手续费激增以及其财富管理服务部门业绩改善。在这一势头的基础上，高盛最近提高了其到 2025 年的前景和利润率目标。2022年情况有一些降温的风险；分析师预测，在 2021 年的兴奋之后，盈利将正常化。即便如此，基于对明年更保守的展望，分析师认为该股的交易价格不到预期市盈率的 10 倍。很便宜。该银行还支付了 2.1% 的高额股息，随着美联储寻求加息，盈利可能会再次意外上升。</blockquote></p><p> <b>Wells Fargo &amp; Co. (WFC)</b></p><p><blockquote><b>富国银行 (WFC)</b></blockquote></p><p> Goldman isn't the only bank stock to grace the list of the best value stocks to buy for 2022. Wells Fargo is another top option. Deep value investors might scoff. After all, Wells Fargo stock jumped more than 50% in 2021. So how is it still cheap now? The answer is that Wells Fargo faced a one-two punch in recent years. It had to deal with the legacy of its fraudulent-accounts scandal and a potential economic disaster induced by COVID-19. Bank stocks, as a sector, have regained their early pandemic losses as the anticipated credit losses failed to materialize. However, Wells Fargo still has additional upside as it resolves its reputational issues. The company's CEO has a roadmap to cutting at least $8 billion per year in overhead over the next few years. This will give Wells Fargo a huge earnings boost. The stock is trading at 12 times forward earnings.</p><p><blockquote>高盛并不是唯一一只入选 2022 年最佳价值股票名单的银行股。富国银行是另一个首选。深度价值投资者可能会嗤之以鼻。毕竟，富国银行股价在 2021 年上涨了 50% 以上。那么现在怎么还便宜呢？答案是，富国银行近年来面临一拳二拳。它不得不处理欺诈账户丑闻的遗留问题以及 COVID-19 引发的潜在经济灾难。由于预期的信贷损失未能实现，银行股作为一个板块已经收复了疫情初期的损失。然而，富国银行在解决其声誉问题时仍有额外的上涨空间。该公司首席执行官制定了未来几年每年至少削减 80 亿美元管理费用的路线图。这将为富国银行带来巨大的盈利增长。该股的交易价格为远期市盈率的 12 倍。</blockquote></p><p> <b>Ford Motor Co. (F)</b></p><p><blockquote><b>福特汽车公司 (F)</b></blockquote></p><p> Could Ford become a momentum stock? It's certainly looking more and more possible with every passing month. The venerable automaker has suddenly become a hot property: Ford's shares doubled in 2021. Even after doing so, however, Ford remains an inexpensive value stock, selling for less than 11 times forward earnings. Investors finally seem to be waking up to the fact that the traditional automakers are actually rather competitive on electric vehicles. As the herd of new&nbsp;electric vehicle companies&nbsp;lost their luster in 2021, stocks like Ford suddenly took flight. A company like Ford is a much safer bet than a firm with a huge valuation but minimal revenues as of yet, such as Rivian Automotive Inc. (RIVN). And since Ford already has tremendous profitability, it can reward shareholders with a 2% dividend and a sense of stability while waiting to see how the firm's electric vehicle evolution proceeds.</p><p><blockquote>福特能成为动量股吗？随着时间的推移，这看起来越来越有可能。这家古老的汽车制造商突然成为热门资产：福特的股价在 2021 年翻了一番。然而，即便如此，福特仍然是一只廉价的价值股，其售价不到预期市盈率的 11 倍。投资者似乎终于意识到，传统汽车制造商在电动汽车方面实际上相当有竞争力。随着一大批新电动汽车公司在 2021 年失去光彩，福特等股票突然起飞。像福特公司这样的公司比Rivian汽车公司（RIVN）等估值巨大但迄今为止收入微薄的公司要安全得多。由于福特已经拥有巨大的盈利能力，它可以在等待公司电动汽车发展进展的同时，向股东提供 2% 的股息和稳定感。</blockquote></p><p> <b>Fidelity National Information Services Inc. (FIS)</b></p><p><blockquote><b>富达国家信息服务公司 (FIS)</b></blockquote></p><p></p><p> Fidelity Information Services is a diversified financials, payments and information technology company. It's one of the fastest-growing companies on this list, as analysts see the company growing earnings at 13% per year in 2022 and 2023. Despite that, amid the sell-off in the payments stock sector, Fidelity Information Services fell about 25% in 2021 and thus has fallen squarely into the bucket of top value stocks to invest in, as shares trade at just 14 times estimated 2022 earnings. This appears to be around general worries of fintech disrupting legacy payments firms. However, Fidelity Information Services should dodge that risk, as it's a diversified business spanning countless lines of payments businesses. It has high-profile new-economy clients such as PayPal Holdings Inc. (PYPL), Klarna, Amazon.com Inc. (AMZN) and Crypto.com, and deals tend to be multiyear recurring revenue streams. Long story short, rumors of this company's demise have been greatly exaggerated, leading to an opportune entry point for 2022.</p><p><blockquote>富达信息服务是一家多元化的金融、支付和信息技术公司。它是该榜单上增长最快的公司之一，分析师认为该公司在 2022 年和 2023 年的盈利年增长率为 13%。尽管如此，在支付股板块的抛售中，富达信息服务公司 (Fidelity Information Services) 在 2021 年下跌了约 25%，因此完全落入了值得投资的最高价值股票之列，因为该股的交易价格仅为 2022 年预期收益的 14 倍。这似乎是关于金融科技扰乱传统支付公司的普遍担忧。然而，富达信息服务应该规避这种风险，因为这是一项跨越无数支付业务的多元化业务。它拥有PayPal控股公司 (PYPL)、Klarna、亚马逊公司 (AMZN) 和 Crypto.com 等知名新经济客户，并且交易往往是多年经常性收入流。长话短说，有关这家公司消亡的传言被大大夸大了，导致了 2022 年的合适切入点。</blockquote></p><p> <b>International Business Machines Corp. (IBM)</b></p><p><blockquote><b>国际商业机器公司 (IBM)</b></blockquote></p><p> IBM certainly missed much of the last decade's big innovations in the technology sector. The tech giant was once the largest company in the world by market capitalization. It's not on the same scale today. However, many investors have written the firm off prematurely. The company remains an absolute cash flow machine with its core consulting and services business. It's not glamorous, but it is highly profitable. The company is active in growth sectors, as well. It has one of the most advanced&nbsp;artificial intelligence&nbsp;programs in the world. Commercialization has been slow, but if IBM solves that issue, it would be a game-changer. In the meantime, the company's Red Hat purchase gave it a big boost in on-trend categories such as cloud computing and virtualization. IBM still faces structural headwinds, to be sure. But at a 12 times forward P-E ratio and 5.1% dividend yield, the price is certainly right to give IBM's turnaround story a chance.</p><p><blockquote>IBM当然错过了过去十年技术领域的许多重大创新。这家科技巨头曾经是世界上市值最大的公司。今天的规模不一样了。然而，许多投资者过早地注销了该公司。该公司凭借其核心咨询和服务业务仍然是绝对的现金流机器。它并不光鲜，但利润丰厚。该公司也活跃于成长型行业。它拥有世界上最先进的人工智能程序之一。商业化进展缓慢，但如果IBM解决了这个问题，它将改变游戏规则。与此同时，该公司对 Red Hat 的收购极大地推动了云计算和虚拟化等热门类别的发展。可以肯定的是，IBM 仍然面临结构性阻力。但以 12 倍的远期市盈率和 5.1% 的股息收益率来看，这个价格肯定是合适的，可以给 IBM 的扭亏为盈故事一个机会。</blockquote></p><p> <b>Gilead Sciences Inc. (GILD)</b></p><p><blockquote><b>吉利德科学公司 (GILD)</b></blockquote></p><p> Investors have labeled Gilead Sciences a value trap. That's because the stock has gone nowhere for the past five years despite appearing to be cheap. This is understandable. Gilead rose to prominence from a highly successful set of drugs to treat hepatitis C. Gilead was unable to immediately follow up that product line with a second act, causing the company's revenues, earnings and stock price to stall out. Seemingly under the radar, however, Gilead has snapped out of its slump. Analysts are modeling double-digit growth in 2022 as Gilead's clinical pipeline and acquisitions are kicking into gear.Biotech investing&nbsp;is always subject to a certain degree of luck depending on clinical trial outcomes. However, with earnings set to jump, Gilead looks attractive at 10 times forward earnings and with a 4% dividend yield.</p><p><blockquote>投资者将吉利德科学称为价值陷阱。这是因为尽管该股看起来很便宜，但在过去五年中却一事无成。这是可以理解的。吉利德从一系列非常成功的治疗丙型肝炎的药物中脱颖而出。吉利德无法立即采取第二种行动来跟进该产品线，导致该公司的收入、盈利和股价停滞不前。然而，看似不为人知的吉利德已经摆脱了低迷。随着吉利德的临床管道和收购开始启动，分析师预计 2022 年将实现两位数增长。生物技术投资总是取决于临床试验结果，取决于一定程度的运气。然而，随着盈利将大幅增长，吉利德的预期市盈率为 10 倍，股息收益率为 4%，看起来很有吸引力。</blockquote></p><p> <b>FedEx Corp. (FDX)</b></p><p><blockquote><b>联邦快递公司 (FDX)</b></blockquote></p><p> FedEx fell victim to a post-pandemic slump. Shares had surged in 2020 as soaring e-commerce demand led to unprecedented need for FedEx's delivery and logistics services. Previously, investors had worried that Amazon would steal market share from FedEx. With the rise of quarantine shopping in 2020, however, there were more than enough packages to keep everyone busy. 2021 was more difficult, though. Labor shortages and surging wages made it difficult to keep the workforce ready at a reasonable cost. Soaring fuel prices crimped profit margins. And port closures, vaccine mandates and other outside factors added further layers of complexity to FedEx's business. Despite all that, FedEx is still going for just 12 times forward earnings. While the headwinds are real, the company's earnings more than offset them. To that end, FedEx just announced a $1.5 billion accelerated share repurchase program to sop up company stock while it's cheap. As if that weren't enough, JPMorgan Chase analysts labeled FedEx stock one of their top transportation picks for 2022.</p><p><blockquote>联邦快递成为大流行后经济衰退的受害者。由于电子商务需求飙升，对联邦快递的递送和物流服务产生了前所未有的需求，2020 年股价飙升。此前，投资者曾担心亚马逊会从联邦快递手中抢走市场份额。然而，随着2020年隔离购物的兴起，有足够多的包裹让每个人都忙个不停。不过，2021 年更加困难。劳动力短缺和工资飙升使得很难以合理的成本让劳动力做好准备。燃油价格飙升压缩了利润率。港口关闭、疫苗强制和其他外部因素给联邦快递的业务增加了更多的复杂性。尽管如此，联邦快递的预期市盈率仍然只有 12 倍。虽然逆风是真实存在的，但该公司的盈利足以抵消这些逆风。为此，联邦快递刚刚宣布了一项 15 亿美元的加速股票回购计划，以在公司股票便宜时吸收其股票。似乎这还不够，摩根大通分析师将联邦快递股票列为他们 2022 年的首选运输股票之一。</blockquote></p><p> <b>Kroger Co. (KR)</b></p><p><blockquote><b>克罗格公司 (KR)</b></blockquote></p><p> Like FedEx, Kroger found itself in a complicated situation thanks to the pandemic. Initially, Kroger delivered strong growth as consumers stocked up their pantries at the start of the lockdowns. In addition, Kroger has invested heavily in&nbsp;e-commerce, warehouses and logistics over the past few years. It's not just a sleepy grocery store chain anymore. In a crisis, Kroger was able to demonstrate its capabilities with delivery orders and gain the trust of a new generation of consumers. 2021 was more complicated, though. Labor shortages and supply chain problems caused Kroger significant profitability headwinds. In addition, the general inflationary wave forced Kroger and its suppliers to raise prices dramatically, potentially damaging the consumer relationship. For the longer term, Kroger's investments in logistics should keep it on the right road, and at 13 times forward earnings, the stock is hardly priced for perfection.</p><p><blockquote>与联邦快递一样，由于疫情，克罗格发现自己陷入了复杂的境地。最初，随着消费者在封锁开始时囤积储藏室，克罗格实现了强劲的增长。此外，克罗格过去几年在电子商务、仓储和物流方面进行了大量投资。它不再只是一家昏昏欲睡的连锁杂货店。在危机中，克罗格能够用送货订单展示自己的能力，赢得新一代消费者的信任。不过，2021 年更加复杂。劳动力短缺和供应链问题给克罗格带来了严重的盈利能力阻力。此外，普遍的通胀浪潮迫使克罗格及其供应商大幅提高价格，可能会损害消费者关系。从长远来看，克罗格在物流方面的投资应该会让其走在正确的道路上，以 13 倍的远期市盈率计算，该股的定价很难完美。</blockquote></p><p></p><p> <b>ExxonMobil Corp. (XOM)</b></p><p><blockquote><b>埃克森美孚公司（XOM）</b></blockquote></p><p> ExxonMobil is enjoying a long-overdue comeback. Exxon stock suffered a six-year downturn between 2014 and 2020, with the stock plummeting from $100 to its ultimate low around $30 during the pandemic. The price of natural gas slumped, while oil did it one better: Crude briefly tumbled below $0 per barrel during the height of the COVID-19 crisis. However, as the adage goes, the cure for low prices is low prices. With oil down for so long, producers stopped putting much capital into new projects. As a result, the supply of oil has become less certain, while demand for oil has come surging back as the world economy reopens. Government regulation and socially conscious investors have further made it difficult to drill for new oil. This puts existing producers with low-cost fields, like ExxonMobil, in the driver's seat. The stock is selling at just 11 times earnings heading into 2022, while paying out a nearly 6% dividend yield.</p><p><blockquote>埃克森美孚正在享受期待已久的卷土重来。埃克森美孚股价在 2014 年至 2020 年间经历了长达六年的低迷，该股在疫情期间从 100 美元暴跌至 30 美元左右的最终低点。天然气价格暴跌，而石油价格则好得多：在 COVID-19 危机最严重的时候，原油价格曾短暂跌破每桶 0 美元。然而，俗话说，治疗低价的良药就是低价。由于石油价格长期下跌，生产商不再向新项目投入大量资金。因此，石油供应变得不那么确定，而随着世界经济重新开放，石油需求又激增。政府监管和有社会意识的投资者进一步增加了钻探新石油的难度。这使得埃克森美孚等拥有低成本油田的现有生产商处于主导地位。到 2022 年，该股的市盈率仅为 11 倍，同时支付近 6% 的股息收益率。</blockquote></p><p> 10 best value stocks to buy for 2022:</p><p><blockquote>2022 年最值得购买的 10 只价值股票：</blockquote></p><p> <ul>  <li>Verizon Communications Inc. (VZ)</li>  <li>Goldman Sachs Group Inc. (GS)</li>  <li>Wells Fargo &amp; Co. (WFC)</li>  <li>Ford Motor Co. (F)</li>  <li>Fidelity National Information Services Inc. (FIS)</li>  <li>International Business Machines Corp. (IBM)</li>  <li>Gilead Sciences Inc. (GILD)</li>  <li>FedEx Corp. (FDX)</li>  <li>Kroger Co. (KR)</li>  <li>ExxonMobil Corp. (XOM)</li> </ul></p><p><blockquote><ul><li>威瑞森通信公司 (VZ)</li><li>高盛集团公司 (GS)</li><li>富国银行 (WFC)</li><li>福特汽车公司 (F)</li><li>富达国家信息服务公司 (FIS)</li><li>国际商业机器公司 (IBM)</li><li>吉利德科学公司 (GILD)</li><li>联邦快递公司 (FDX)</li><li>克罗格公司 (KR)</li><li>埃克森美孚公司（XOM）</li></ul></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://money.usnews.com/investing/stock-market-news/slideshows/best-value-stocks-to-buy-now\">U.S. News & World Report</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FDX":"联邦快递","VZ":"Verizon Comms","IBM":"IBM","KR":"克罗格","GS":"高盛","GILD":"吉利德科学","XOM":"埃克森美孚","WFC":"富国银行","F":"福特汽车","FIS":"繁德信息技术"},"source_url":"https://money.usnews.com/investing/stock-market-news/slideshows/best-value-stocks-to-buy-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126440728","content_text":"These cheaply priced value stocks should deliver solid results next year.\nIn an expensive stock market trading near record highs, it's not easy to pay up for growth stocks. And, as the past few months have shown, there's a lot of risk in chasing the high-fliers. There have been huge sell-offs in special-purpose acquisition companies, software stocks and electric vehicle firms, among others. As such, many investors are looking to more defensive value companies for 2022. There are numerous definitions of a value stock. Many investors use book value, relative valuations compared to the sector, free cash flow or valuations compared to a historical mean, among other metrics. However, for the sake of this list, the criteria of 15 times forward earnings will be the barometer. Any stock trading for less than that threshold is eligible, and anything over that number is excluded. With that definition set, here are 10 of the best value stocks to buy for 2022.\nVerizon Communications Inc. (ticker:VZ)\nIt's not glamorous, but for investors seeking a safe and cheap high-yield stock, the telecom industry isn't a bad place to look. Specifically, Verizon offers a lot of appeal after an underwhelming 2021. The company has spent most of the past five years trading between $50 and $60 per share. The stock doesn't move quickly. And an inability to capitalize on the 5G upgrade cycle until now has squashed what little momentum Verizon may have had. At some point, however, the 5G investments should start to pay dividends. In the meantime, Verizon continues to enjoy incredible cash flows from its core business. The stock won't deliver big overnight returns, but it's got a steady 4.9% dividend yield with some upside potential given its bona fide value-stock status at 10 times earnings.\nGoldman Sachs Group Inc. (GS)\nOn the surface, Goldman Sachs looks like one of the absolute cheapest stocks on this list. GS stock is trading for just 6.3 times trailing earnings. That's in large part due to just how phenomenal 2021 was for the bank. Goldman Sachs saw improving loan market conditions, a boom in investment banking fees and improving results from its wealth management services division. Building on that momentum, Goldman Sachs recently lifted its outlook and profit margin targets through 2025. There is some risk of things cooling off a bit in 2022; analysts forecast a normalization in earnings after 2021's euphoria. Even so, based on a more conservative outlook for next year, analysts have the stock trading for under 10 times forward earnings. That's a bargain. The bank pays a fine 2.1% dividend too, and with the Federal Reserve looking to hike interest rates, earnings may surprise once again to the upside.\nWells Fargo & Co. (WFC)\nGoldman isn't the only bank stock to grace the list of the best value stocks to buy for 2022. Wells Fargo is another top option. Deep value investors might scoff. After all, Wells Fargo stock jumped more than 50% in 2021. So how is it still cheap now? The answer is that Wells Fargo faced a one-two punch in recent years. It had to deal with the legacy of its fraudulent-accounts scandal and a potential economic disaster induced by COVID-19. Bank stocks, as a sector, have regained their early pandemic losses as the anticipated credit losses failed to materialize. However, Wells Fargo still has additional upside as it resolves its reputational issues. The company's CEO has a roadmap to cutting at least $8 billion per year in overhead over the next few years. This will give Wells Fargo a huge earnings boost. The stock is trading at 12 times forward earnings.\nFord Motor Co. (F)\nCould Ford become a momentum stock? It's certainly looking more and more possible with every passing month. The venerable automaker has suddenly become a hot property: Ford's shares doubled in 2021. Even after doing so, however, Ford remains an inexpensive value stock, selling for less than 11 times forward earnings. Investors finally seem to be waking up to the fact that the traditional automakers are actually rather competitive on electric vehicles. As the herd of new electric vehicle companies lost their luster in 2021, stocks like Ford suddenly took flight. A company like Ford is a much safer bet than a firm with a huge valuation but minimal revenues as of yet, such as Rivian Automotive Inc. (RIVN). And since Ford already has tremendous profitability, it can reward shareholders with a 2% dividend and a sense of stability while waiting to see how the firm's electric vehicle evolution proceeds.\nFidelity National Information Services Inc. (FIS)\nFidelity Information Services is a diversified financials, payments and information technology company. It's one of the fastest-growing companies on this list, as analysts see the company growing earnings at 13% per year in 2022 and 2023. Despite that, amid the sell-off in the payments stock sector, Fidelity Information Services fell about 25% in 2021 and thus has fallen squarely into the bucket of top value stocks to invest in, as shares trade at just 14 times estimated 2022 earnings. This appears to be around general worries of fintech disrupting legacy payments firms. However, Fidelity Information Services should dodge that risk, as it's a diversified business spanning countless lines of payments businesses. It has high-profile new-economy clients such as PayPal Holdings Inc. (PYPL), Klarna, Amazon.com Inc. (AMZN) and Crypto.com, and deals tend to be multiyear recurring revenue streams. Long story short, rumors of this company's demise have been greatly exaggerated, leading to an opportune entry point for 2022.\nInternational Business Machines Corp. (IBM)\nIBM certainly missed much of the last decade's big innovations in the technology sector. The tech giant was once the largest company in the world by market capitalization. It's not on the same scale today. However, many investors have written the firm off prematurely. The company remains an absolute cash flow machine with its core consulting and services business. It's not glamorous, but it is highly profitable. The company is active in growth sectors, as well. It has one of the most advanced artificial intelligence programs in the world. Commercialization has been slow, but if IBM solves that issue, it would be a game-changer. In the meantime, the company's Red Hat purchase gave it a big boost in on-trend categories such as cloud computing and virtualization. IBM still faces structural headwinds, to be sure. But at a 12 times forward P-E ratio and 5.1% dividend yield, the price is certainly right to give IBM's turnaround story a chance.\nGilead Sciences Inc. (GILD)\nInvestors have labeled Gilead Sciences a value trap. That's because the stock has gone nowhere for the past five years despite appearing to be cheap. This is understandable. Gilead rose to prominence from a highly successful set of drugs to treat hepatitis C. Gilead was unable to immediately follow up that product line with a second act, causing the company's revenues, earnings and stock price to stall out. Seemingly under the radar, however, Gilead has snapped out of its slump. Analysts are modeling double-digit growth in 2022 as Gilead's clinical pipeline and acquisitions are kicking into gear.Biotech investing is always subject to a certain degree of luck depending on clinical trial outcomes. However, with earnings set to jump, Gilead looks attractive at 10 times forward earnings and with a 4% dividend yield.\nFedEx Corp. (FDX)\nFedEx fell victim to a post-pandemic slump. Shares had surged in 2020 as soaring e-commerce demand led to unprecedented need for FedEx's delivery and logistics services. Previously, investors had worried that Amazon would steal market share from FedEx. With the rise of quarantine shopping in 2020, however, there were more than enough packages to keep everyone busy. 2021 was more difficult, though. Labor shortages and surging wages made it difficult to keep the workforce ready at a reasonable cost. Soaring fuel prices crimped profit margins. And port closures, vaccine mandates and other outside factors added further layers of complexity to FedEx's business. Despite all that, FedEx is still going for just 12 times forward earnings. While the headwinds are real, the company's earnings more than offset them. To that end, FedEx just announced a $1.5 billion accelerated share repurchase program to sop up company stock while it's cheap. As if that weren't enough, JPMorgan Chase analysts labeled FedEx stock one of their top transportation picks for 2022.\nKroger Co. (KR)\nLike FedEx, Kroger found itself in a complicated situation thanks to the pandemic. Initially, Kroger delivered strong growth as consumers stocked up their pantries at the start of the lockdowns. In addition, Kroger has invested heavily in e-commerce, warehouses and logistics over the past few years. It's not just a sleepy grocery store chain anymore. In a crisis, Kroger was able to demonstrate its capabilities with delivery orders and gain the trust of a new generation of consumers. 2021 was more complicated, though. Labor shortages and supply chain problems caused Kroger significant profitability headwinds. In addition, the general inflationary wave forced Kroger and its suppliers to raise prices dramatically, potentially damaging the consumer relationship. For the longer term, Kroger's investments in logistics should keep it on the right road, and at 13 times forward earnings, the stock is hardly priced for perfection.\nExxonMobil Corp. (XOM)\nExxonMobil is enjoying a long-overdue comeback. Exxon stock suffered a six-year downturn between 2014 and 2020, with the stock plummeting from $100 to its ultimate low around $30 during the pandemic. The price of natural gas slumped, while oil did it one better: Crude briefly tumbled below $0 per barrel during the height of the COVID-19 crisis. However, as the adage goes, the cure for low prices is low prices. With oil down for so long, producers stopped putting much capital into new projects. As a result, the supply of oil has become less certain, while demand for oil has come surging back as the world economy reopens. Government regulation and socially conscious investors have further made it difficult to drill for new oil. This puts existing producers with low-cost fields, like ExxonMobil, in the driver's seat. The stock is selling at just 11 times earnings heading into 2022, while paying out a nearly 6% dividend yield.\n10 best value stocks to buy for 2022:\n\nVerizon Communications Inc. (VZ)\nGoldman Sachs Group Inc. (GS)\nWells Fargo & Co. (WFC)\nFord Motor Co. (F)\nFidelity National Information Services Inc. (FIS)\nInternational Business Machines Corp. (IBM)\nGilead Sciences Inc. (GILD)\nFedEx Corp. (FDX)\nKroger Co. (KR)\nExxonMobil Corp. (XOM)","news_type":1,"symbols_score_info":{"FDX":0.9,"GS":0.9,"F":0.9,"KR":0.9,"VZ":0.9,"WFC":0.9,"FIS":0.9,"GILD":0.9,"IBM":0.9,"XOM":0.9}},"isVote":1,"tweetType":1,"viewCount":2221,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":691891833,"gmtCreate":1640159780717,"gmtModify":1640159780717,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"50-50","listText":"50-50","text":"50-50","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/691891833","repostId":"1123940793","repostType":4,"repost":{"id":"1123940793","kind":"news","pubTimestamp":1640153635,"share":"https://www.laohunote.com/m/news/1123940793?lang=zh_CN&edition=full","pubTime":"2021-12-22 14:13","market":"us","language":"en","title":"Is Rivian Stock A Buy, Sell, Or Hold?<blockquote>Rivian股票是买入、卖出还是持有？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1123940793","media":"Seeking Alpha","summary":"Summary\n\nRivian stock has dropped more than 25% since our last Neutral call.\nThe company reported a ","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Rivian stock has dropped more than 25% since our last Neutral call.</li>  <li>The company reported a slight production target miss in its FQ3 earnings call. However, we don't think investors should be overly worried.</li>  <li>We discuss why we think RIVN stock is a Buy now.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/69bdd77748b1c27c695aff2846bb30c6\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Michael M. Santiago/Getty Images News</span></p><p><blockquote><ul><li>自上次中性看涨期权以来，Rivian股价已下跌超过 25%。</li><li>该公司在第三季度收益看涨期权中报告称，产量目标略有低于预期。不过，我们认为投资者不必过度担心。</li><li>我们讨论为什么我们认为 RIVN 股票现在值得买入。</li></ul><p class=\"t-img-caption\"><span>迈克尔·M·圣地亚哥/盖蒂图片社新闻</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Rivian Automotive, Inc. (RIVN) recently released its first earnings reports for FQ3'21 as a public company. Notably, the company missed its 1,200 vehicle production target by \"a few hundred vehicles.\" However, we weren't surprised, given the current supply chain bottlenecks and the challenges in ramping production. Moreover, we don't think investors should be unduly concerned about its short-term production goal. Management was clear as it emphasized that its long-term production targets remain unaffected.</p><p><blockquote>Rivian汽车公司 (RIVN) 最近作为上市公司发布了 2021 年第三季度的第一份收益报告。值得注意的是，该公司距离 1,200 辆汽车的产量目标差了“几百辆”。然而，考虑到当前的供应链瓶颈和提高产量的挑战，我们并不感到惊讶。此外，我们认为投资者不应过度担心其短期生产目标。管理层明确强调其长期生产目标不受影响。</blockquote></p><p> Nevertheless, we believe that ramping production successfully will continue to be a key hurdle facing CEO RJ Scaringe &amp; Co. Investors sent the stock tumbling after its earnings report, which we believe the market took the opportunity to pare down risk. After all, RIVN stock had traded at an incredible market cap of $112.8B&nbsp;when we wrote our previous article. Following the recent sell-off, Rivian's market cap has dropped to $88B. Therefore, we believe it's an appropriate time to revisit our thesis on RIVN stock post-FQ3 earnings.</p><p><blockquote>尽管如此，我们相信成功提高产量仍将是首席执行官 RJ Scaringe &amp; Co. 面临的主要障碍。投资者在财报发布后导致该股暴跌，我们认为市场借此机会降低了风险。毕竟，当我们撰写上一篇文章时，RIVN 股票的市值达到了令人难以置信的 $112.8B。继最近的抛售之后，Rivian 的市值已降至 $88B。因此，我们认为现在是重新审视我们关于 RIVN 股票第三季度后收益的论点的合适时机。</blockquote></p><p> We also discuss why we think the stock seems fairly valued now.</p><p><blockquote>我们还讨论了为什么我们认为该股票现在的估值似乎合理。</blockquote></p><p> <b>Rivian Market Cap Trend</b></p><p><blockquote><b>Rivian市值趋势</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a528b02874c529215e0428c40adc5ad1\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"><span>RIVN market cap analysis (as of 17 December'21).</span></p><p><blockquote><p class=\"t-img-caption\"><span>RIVN市值分析（截至21年12月17日）。</span></p></blockquote></p><p> Readers can quickly glean that Rivian's market cap has dropped dramatically back to where it started life as a public company. It last registered a market cap of $88B, while it began trading with a market cap of $83.6B in early November.</p><p><blockquote>读者很快就会发现，Rivian 的市值已大幅回落至其作为上市公司的起点。它最后一次注册的市值为 88B 美元，而它在 11 月初开始交易的市值为 83.6B 美元。</blockquote></p><p> Nevertheless, Rivian's market cap still exceeded Ford (F) and General Motors (GM) market cap even as it just started making deliveries in September. Some investors find it incredulous that a company that hasn't even ramped production could be worth more than both the US auto leaders.</p><p><blockquote>尽管如此，Rivian 的市值仍然超过了福特 (F) 和通用汽车 (GM) 的市值，尽管它在 9 月份才开始交付。一些投资者觉得难以置信，一家甚至没有提高产量的公司竟然比两家美国汽车巨头的价值还要高。</blockquote></p><p> <b>Why We Think Rivian Investors Remain Optimistic Post-FQ3</b></p><p><blockquote><b>为什么我们认为Rivian投资者在第三季度后保持乐观</b></blockquote></p><p> Rivian's report card wasn't a disaster, even if the company missed its production guidance for 2021. CEO RJ Scaringe offered assurances as he emphasized (edited):</p><p><blockquote>Rivian 的成绩单并不是一场灾难，即使该公司错过了 2021 年的生产指导。首席执行官 RJ Scaringe 提供了保证，他强调（编辑）：</blockquote></p><p>   For 2021,   <i>we expect to produce a few hundred vehicles short of our initial 1,200 vehicle production target</i>. We do not believe any of our supply chain challenges represent long-term systemic issues. We remain well-positioned to capture and drive the accelerated large-scale adoption of sustainable transportation. However, a small number of suppliers or small number of components may be ramping a little slower, creating constraints or bottlenecks. Those challenges have been really a focal point for us over the last two and a half, three months.   <i>But, these issues are short-term in nature and they are solvable problems</i>. So, we don't see any long-term systemic challenges associated with ramping the supply chain. (Rivian's FQ3'21 earnings call)  <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36ec61d947f0a1da5f4d5883a8941a7d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><span>Rivian planned production capacity and delivery consensus estimates. Data source: S&amp;P Capital IQ, Barron's</span></p><p><blockquote>2021年，<i>我们预计生产几百辆汽车，低于最初 1,200 辆汽车的生产目标</i>我们不认为我们的任何供应链挑战代表长期的系统性问题。我们仍然处于有利地位，能够抓住和推动可持续交通的加速大规模采用。然而，少数供应商或少数组件的速度可能会稍微慢一些，从而造成限制或瓶颈。在过去的两个半月到三个月里，这些挑战确实是我们关注的焦点。<i>但是，这些问题本质上是短期的，是可以解决的问题</i>因此，我们看不到任何与提升供应链相关的长期系统性挑战。（Rivian 2021 年第三季度盈利看涨期权）<p class=\"t-img-caption\"><span>Rivian计划产能和交付共识估计。数据来源：S&amp;P Capital IQ、巴伦周刊</span></p></blockquote></p><p> Rivian telegraphed that it would be commencing its new Georgia production facility in mid'22 and ready to begin production from 2024. Georgia's planned annual run rate is estimated at 400K. Therefore, it would afford Rivian a collective annual production capacity of 600K if we include its Illinois facility. Nevertheless, the company did not specify how long it would take to ramp production to its planned capacity. However, consensus estimates point to a relatively positive ramp through FY25. As a result, Rivian is estimated to deliver about 40K of vehicles in FY22. However, it would reach the 360K milestone by FY25, registering an estimated delivery CAGR of 108%. Its 360K estimate includes the 100K EDV orders from its exclusive last-mile delivery partner and cornerstone investor Amazon (AMZN).</p><p><blockquote>Rivian电报称，该公司将于 2022 年中期在佐治亚州启动新的生产设施，并准备从 2024 年开始生产。佐治亚州的计划年运行率估计为40万。因此，如果算上伊利诺伊州工厂，Rivian的年产能将达到 60 万辆。不过，该公司没有具体说明将产量提高到计划产能需要多长时间。然而，共识估计表明，2025 财年将出现相对积极的增长。因此，Rivian预计将在 2022 财年交付约 4 万辆汽车。然而，到 25 财年，它将达到 36 万辆的里程碑，预计交付复合年增长率为 108%。其 36 万份估计包括来自其独家最后一英里配送合作伙伴和基石投资者亚马逊 (AMZN) 的 10 万份 EDV 订单。</blockquote></p><p></p><p> There's little doubt that the delivery cadence estimates look very aggressive. But, if done well, it's also not impossible. Keen investors should recall that Tesla (TSLA) took just two years to ramp Giga Shanghai from zero to its current 600K annual run rate. It has even recently made new investments to enhance its production capacity further. Rivian also seems highly confident that they can ramp successfully, as CEO RJ Scaringe emphasized (edited):</p><p><blockquote>毫无疑问，交付节奏的估计看起来非常激进。但是，如果做得好，这也不是不可能的。敏锐的投资者应该还记得，特斯拉 (TSLA) 仅用了两年时间就将 Giga Shanghai 从零提高到目前 60 万辆的年运行率。它最近甚至进行了新的投资，以进一步提高其产能。正如首席执行官 RJ Scaringe 强调的那样，Rivian似乎也对他们能够成功实现增长充满信心（编辑）：</blockquote></p><p>   We've architected the product development to be capable of running more than one program and launching more than one program at once, but also to have those fast feedback loops between the different programs. So with that, the commercial van has actually learned a lot from the R1 platform and the R1 platform launch. What you see in terms of the facility in Georgia, is key for us from an expansion point of view. We're quite confident in the path ahead. All three of our vehicles have been certified for sale and they're being produced on two different production lines.   <i>The organization was architected to facilitate running and operating multiple programs at the same time</i>. And so as we now look at what the ramp will look like for both R1T and R1S into next year, it really positions us to rapidly grow through the course of 2022. (Rivian's FQ3'21 earnings call)  While it's still early, Rivian investors are undoubtedly confident that the company can deliver on its production cadence to meet its delivery milestones. The company is not facing a demand issue compared to short-term supply constraints. They updated that R1 orders have climbed to 71K from 55K in the previous update. Nevertheless, these are cancelable orders, as their delivery timeline has been stretched to 2023 if a new order is placed now. Given that auto leaders General Motors, Ford, and Tesla will also be expected to compete with their pickup trucks soon, Rivian must maintain its production cadence. Therefore, we encourage investors to monitor their production milestones very carefully moving ahead.</p><p><blockquote>我们设计了产品开发，使其能够运行多个程序并同时启动多个程序，同时还能在不同程序之间实现快速反馈循环。因此，商用厢式货车实际上从R1平台和R1平台发布中学到了很多东西。从扩张的角度来看，您在佐治亚州的工厂对我们来说至关重要。我们对前进的道路很有信心。我们的所有三款车辆都已获得销售认证，并在两条不同的生产线上生产。<i>该组织的架构是为了便于同时运行和操作多个程序</i>.因此，当我们现在看到明年 R1T 和 R1S 的斜坡时，它确实使我们能够在 2022 年快速增长。（Rivian 的 2021 年第三季度盈利看涨期权）虽然现在还为时尚早，但Rivian投资者无疑对该公司能够加快生产节奏以实现交付里程碑充满信心。与短期供应限制相比，该公司并未面临需求问题。他们更新说，R1订单已经从上次更新的5.5万攀升到7.1万。尽管如此，这些都是可取消的订单，因为如果现在下新订单，它们的交货时间表已延长至 2023 年。鉴于汽车领导者通用汽车、福特和特斯拉预计也将很快与他们的皮卡车竞争，Rivian必须保持其生产节奏。因此，我们鼓励投资者在未来非常仔细地监控其生产里程碑。</blockquote></p><p> <b>Investors Must Carefully Monitor Amazon's EDV Range</b></p><p><blockquote><b>投资者必须仔细监控亚马逊的 EDV 产品系列</b></blockquote></p><p> The partnership with Amazon is critical to jumpstarting Rivian's ambitions into the commercial fleet segment. Not only does it offer the opportunity of massive fleet sales, but it also sells its fleet management subscriptions as part of its commercial sales. Consequently, it introduces a recurring software revenue stream component on top of its hardware revenue. It also applies to the Amazon fleet, as Rivian accentuated: \"That software subscription goes live basically now on the commercial side.\"</p><p><blockquote>与亚马逊的合作对于启动 Rivian 进军商业车队领域的雄心至关重要。它不仅提供了大规模车队销售的机会，还将其车队管理订阅作为商业销售的一部分出售。因此，除了硬件收入之外，它还引入了一个经常性的软件收入流组成部分。这也适用于亚马逊车队，正如Rivian强调的那样：“该软件订阅现在基本上已经在商业方面上线。”</blockquote></p><p> Rivian is expected to deliver 10K EDV by 2022 following \"months of testing&nbsp;in 15 cities.\" Investors should remember that Amazon retains the right to change its number of orders. Therefore it's critical that Rivian can meet Amazon's expectations. We believe it has also driven Rivian to ramp production quickly. Given how quickly they secured their second production facility, we believe that the company seems confident in meeting its production targets, and consequently, Amazon's orders.</p><p><blockquote>经过“在 15 个城市进行数月的测试”，Rivian预计到 2022 年将交付 1 万台 EDV。投资者应该记住，亚马逊保留更改其订单数量的权利。因此，Rivian能够满足亚马逊的期望至关重要。我们相信这也促使Rivian迅速提高产量。考虑到他们获得第二个生产设施的速度，我们相信该公司似乎有信心实现其生产目标，从而实现亚马逊的订单。</blockquote></p><p> Rivian emphasized that its EDV is capable of 201 miles range, and it is on track to deliver its vehicles to Amazon. However, a previous report by The Information highlighted some challenges in Amazon's testing, on top of its battery draining problem. The Information reported (edited):</p><p><blockquote>Rivian强调，其 EDV 的续航里程为 201 英里，并且有望向亚马逊交付车辆。然而，《信息报》之前的一份报告强调了亚马逊测试中的一些挑战，除了电池耗尽问题之外。报告信息（编辑）：</blockquote></p><p>   Rivian said the Amazon vans would have a range of between 120 miles and 150 miles depending on their size. But one driver involved in testing the vans said the range could be much less, depending on the weather. The driver who spoke to The Information said the battery drained about 40% faster than normal if the van’s heating or cooling was on. As a result, drivers have been testing the vans on what they dubbed “nursery routes,” where vans didn’t venture too far away from the contractors’ headquarters. (The Information)  Nevertheless, Amazon's director of Global Fleets and Products, Ross Rachey, noted that once the vans are in production, \"they would have a range of 150 miles, which is double the range of the majority of Amazon's routes.\" Notably, the company also quickly emphasized that these test vans are not fully developed yet.</p><p><blockquote>Rivian表示，亚马逊货车的续航里程将在 120 英里至 150 英里之间，具体取决于其尺寸。但一名参与测试货车的司机表示，根据天气情况，续航里程可能会短得多。接受《信息报》采访的司机说，如果面包车开着暖气或冷却装置，电池的耗尽速度会比正常情况快 40% 左右。因此，司机们一直在他们所谓的 “苗圃路线 ”上测试货车，在这些路线上，货车不会冒险离开承包商总部太远。（The Information）尽管如此，亚马逊全球车队和产品总监 Ross Rachey 指出，一旦这些货车投入生产，“它们的续航里程将达到 150 英里，是亚马逊大多数路线续航里程的两倍。”值得注意的是，该公司还很快强调，这些测试货车尚未完全开发。</blockquote></p><p> We believe a successful launch program with Amazon could open up many potential opportunities outside of the Last Mile segment. Investors should note that Amazon's exclusive partnership with Rivian is limited to Last Mile. But, the commercial space is much larger than the Last Mile segment. Rivian also raved about its market opportunities in the larger commercial space, as Scaringe added (edited):</p><p><blockquote>我们相信，与亚马逊的成功发布计划可以在最后一英里领域之外开辟许多潜在的机会。投资者应该注意，亚马逊与Rivian的独家合作仅限于最后一英里。但是，商业空间比最后一英里段大得多。Rivian还对其在更大的商业空间中的市场机会赞不绝口，斯卡林奇补充道（编辑）：</blockquote></p><p></p><p>   <i>Amazon represents such a large pool of demand for us.</i>So it's really critical that we do not starve them of vehicles. Nevertheless, the RCV platform was architected and designed   <i>fully contemplating vehicles beyond Last Mile, such as in the cargo space</i>, or in the workspace. So there's a whole host of opportunities that exists both in large volumes, but also across a very long spread-out tail of commercial applications. Thus, we also have an eye on launching non-EDV versions on the RCV platform to capitalize on these opportunities. (Rivian's FQ3'21 earnings call)  <b>So, is RIVN Stock a Buy/Hold/Sell Now?</b></p><p><blockquote><i>亚马逊代表了我们如此庞大的需求。</i>因此，我们不要让他们挨饿，这一点非常重要。然而，RCV平台的架构和设计<i>充分考虑最后一英里以外的车辆，例如货舱</i>，或在工作区中。因此，有一大堆机会，既存在于大量，也存在于一个非常长的商业应用尾部。因此，我们也着眼于在RCV平台上推出非EDV版本，以利用这些机会。（Rivian 2021 年第三季度盈利看涨期权）<b>那么，RIVN股票现在是买入/持有/卖出吗？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/264dc3dc91fc844d920e73a7f69cf920\" tg-width=\"640\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Rivian revenue and adjusted EBIT margins mean consensus estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>Rivian收入和调整后息税前利润率是普遍预期。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1069e7fc16920da396615f6df6ff5951\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><span>RIVN and TSLA stock EV/Fwd Revenue valuation comps. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>RIVN 和 TSLA 股票 EV/Fwd 收入估值比较。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Consensus estimates point to a largely successful ramp, as we explained earlier. As a result, Rivian's revenue is estimated to reach $27.84B by FY25. However, the company is not expected to be profitable based on adjusted EBIT margins by then. Therefore, investors are encouraged to monitor its production ramp and profitability dynamics moving forward carefully.</p><p><blockquote>正如我们之前解释的那样，共识估计指向一个很大程度上成功的斜坡。因此，到 2025 财年，Rivian 的收入预计将达到 27.84B 美元。然而，根据调整后的息税前利润率，预计该公司届时不会盈利。因此，鼓励投资者仔细监控其产量增长和盈利能力动态。</blockquote></p><p> Nevertheless, its valuations have dropped significantly since its earlier momentum spike. The stock has declined more than 25% since our Neutral call, as we encouraged investors to wait for the dip.</p><p><blockquote>然而，自早些时候的势头飙升以来，其估值已大幅下降。自我们采取中性看涨期权以来，该股已下跌超过 25%，因为我们鼓励投资者等待下跌。</blockquote></p><p> If we consider Rivian's valuations against Tesla moving forward, it may seem more reasonable than the EV leader. However, investors should note that Tesla is already a solidly profitable EV maker. It also has proven its production ramp capabilities exceptionally well. Moreover, its brand value has also increased tremendously globally. Therefore, comparing their revenue multiples directly without adjusting for Tesla's advantages would not make sense.</p><p><blockquote>如果我们将 Rivian 的估值与特斯拉的估值进行比较，它似乎比电动汽车领导者更合理。然而，投资者应该注意到，特斯拉已经是一家盈利稳健的电动汽车制造商。它还证明了其出色的生产能力。此外，其品牌价值在全球范围内也大幅增长。因此，在不调整特斯拉优势的情况下直接比较它们的收入倍数是没有意义的。</blockquote></p><p> Based on Rivian stock's EV/FY25 revenue multiple of 3.4x, it's trading at 50% of Tesla's FY25 revenue multiple. Therefore, we think RIVN stock looks fairly valued now. Nevertheless, we believe that RIVN stock remains a highly speculative play. However, the company seems to be getting well on track to meet its mid-term production guidance. Therefore, the current weakness could offer speculative investors a potential opportunity to add exposure at a more reasonable valuation.</p><p><blockquote>根据Rivian股票 3.4 倍的 EV/25 财年收入倍数，其交易价格是特斯拉 25 财年收入倍数的 50%。因此，我们认为 RIVN 股票现在看起来估值合理。尽管如此，我们认为 RIVN 股票仍然是一个高度投机性的股票。然而，该公司似乎正在顺利实现中期生产指导。因此，当前的疲软可能会为投机投资者提供一个以更合理的估值增加风险敞口的潜在机会。</blockquote></p><p> Consequently,<i>we revise our rating on RIVN stock to Buy.</i>However, we would like to caution that RIVN stock may be suitable for speculative investors only. Moreover, the stock could continue to exhibit tremendous volatility. Therefore, investors are encouraged to add in phases.</p><p><blockquote>因此，<i>我们将 RIVN 股票的评级修改为买入。</i>然而，我们想提醒的是，RIVN 股票可能只适合投机投资者。此外，该股可能会继续表现出巨大的波动性。因此，鼓励投资者分阶段增持。</blockquote></p><p> This article was written by&nbsp;JR Research.</p><p><blockquote>本文由JR Research撰写。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Rivian Stock A Buy, Sell, Or Hold?<blockquote>Rivian股票是买入、卖出还是持有？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Rivian Stock A Buy, Sell, Or Hold?<blockquote>Rivian股票是买入、卖出还是持有？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-22 14:13</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Rivian stock has dropped more than 25% since our last Neutral call.</li>  <li>The company reported a slight production target miss in its FQ3 earnings call. However, we don't think investors should be overly worried.</li>  <li>We discuss why we think RIVN stock is a Buy now.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/69bdd77748b1c27c695aff2846bb30c6\" tg-width=\"1536\" tg-height=\"1024\" referrerpolicy=\"no-referrer\"><span>Michael M. Santiago/Getty Images News</span></p><p><blockquote><ul><li>自上次中性看涨期权以来，Rivian股价已下跌超过 25%。</li><li>该公司在第三季度收益看涨期权中报告称，产量目标略有低于预期。不过，我们认为投资者不必过度担心。</li><li>我们讨论为什么我们认为 RIVN 股票现在值得买入。</li></ul><p class=\"t-img-caption\"><span>迈克尔·M·圣地亚哥/盖蒂图片社新闻</span></p></blockquote></p><p> <b>Investment Thesis</b></p><p><blockquote><b>投资论文</b></blockquote></p><p> Rivian Automotive, Inc. (RIVN) recently released its first earnings reports for FQ3'21 as a public company. Notably, the company missed its 1,200 vehicle production target by \"a few hundred vehicles.\" However, we weren't surprised, given the current supply chain bottlenecks and the challenges in ramping production. Moreover, we don't think investors should be unduly concerned about its short-term production goal. Management was clear as it emphasized that its long-term production targets remain unaffected.</p><p><blockquote>Rivian汽车公司 (RIVN) 最近作为上市公司发布了 2021 年第三季度的第一份收益报告。值得注意的是，该公司距离 1,200 辆汽车的产量目标差了“几百辆”。然而，考虑到当前的供应链瓶颈和提高产量的挑战，我们并不感到惊讶。此外，我们认为投资者不应过度担心其短期生产目标。管理层明确强调其长期生产目标不受影响。</blockquote></p><p> Nevertheless, we believe that ramping production successfully will continue to be a key hurdle facing CEO RJ Scaringe &amp; Co. Investors sent the stock tumbling after its earnings report, which we believe the market took the opportunity to pare down risk. After all, RIVN stock had traded at an incredible market cap of $112.8B&nbsp;when we wrote our previous article. Following the recent sell-off, Rivian's market cap has dropped to $88B. Therefore, we believe it's an appropriate time to revisit our thesis on RIVN stock post-FQ3 earnings.</p><p><blockquote>尽管如此，我们相信成功提高产量仍将是首席执行官 RJ Scaringe &amp; Co. 面临的主要障碍。投资者在财报发布后导致该股暴跌，我们认为市场借此机会降低了风险。毕竟，当我们撰写上一篇文章时，RIVN 股票的市值达到了令人难以置信的 $112.8B。继最近的抛售之后，Rivian 的市值已降至 $88B。因此，我们认为现在是重新审视我们关于 RIVN 股票第三季度后收益的论点的合适时机。</blockquote></p><p> We also discuss why we think the stock seems fairly valued now.</p><p><blockquote>我们还讨论了为什么我们认为该股票现在的估值似乎合理。</blockquote></p><p> <b>Rivian Market Cap Trend</b></p><p><blockquote><b>Rivian市值趋势</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a528b02874c529215e0428c40adc5ad1\" tg-width=\"640\" tg-height=\"331\" referrerpolicy=\"no-referrer\"><span>RIVN market cap analysis (as of 17 December'21).</span></p><p><blockquote><p class=\"t-img-caption\"><span>RIVN市值分析（截至21年12月17日）。</span></p></blockquote></p><p> Readers can quickly glean that Rivian's market cap has dropped dramatically back to where it started life as a public company. It last registered a market cap of $88B, while it began trading with a market cap of $83.6B in early November.</p><p><blockquote>读者很快就会发现，Rivian 的市值已大幅回落至其作为上市公司的起点。它最后一次注册的市值为 88B 美元，而它在 11 月初开始交易的市值为 83.6B 美元。</blockquote></p><p> Nevertheless, Rivian's market cap still exceeded Ford (F) and General Motors (GM) market cap even as it just started making deliveries in September. Some investors find it incredulous that a company that hasn't even ramped production could be worth more than both the US auto leaders.</p><p><blockquote>尽管如此，Rivian 的市值仍然超过了福特 (F) 和通用汽车 (GM) 的市值，尽管它在 9 月份才开始交付。一些投资者觉得难以置信，一家甚至没有提高产量的公司竟然比两家美国汽车巨头的价值还要高。</blockquote></p><p> <b>Why We Think Rivian Investors Remain Optimistic Post-FQ3</b></p><p><blockquote><b>为什么我们认为Rivian投资者在第三季度后保持乐观</b></blockquote></p><p> Rivian's report card wasn't a disaster, even if the company missed its production guidance for 2021. CEO RJ Scaringe offered assurances as he emphasized (edited):</p><p><blockquote>Rivian 的成绩单并不是一场灾难，即使该公司错过了 2021 年的生产指导。首席执行官 RJ Scaringe 提供了保证，他强调（编辑）：</blockquote></p><p>   For 2021,   <i>we expect to produce a few hundred vehicles short of our initial 1,200 vehicle production target</i>. We do not believe any of our supply chain challenges represent long-term systemic issues. We remain well-positioned to capture and drive the accelerated large-scale adoption of sustainable transportation. However, a small number of suppliers or small number of components may be ramping a little slower, creating constraints or bottlenecks. Those challenges have been really a focal point for us over the last two and a half, three months.   <i>But, these issues are short-term in nature and they are solvable problems</i>. So, we don't see any long-term systemic challenges associated with ramping the supply chain. (Rivian's FQ3'21 earnings call)  <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/36ec61d947f0a1da5f4d5883a8941a7d\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><span>Rivian planned production capacity and delivery consensus estimates. Data source: S&amp;P Capital IQ, Barron's</span></p><p><blockquote>2021年，<i>我们预计生产几百辆汽车，低于最初 1,200 辆汽车的生产目标</i>我们不认为我们的任何供应链挑战代表长期的系统性问题。我们仍然处于有利地位，能够抓住和推动可持续交通的加速大规模采用。然而，少数供应商或少数组件的速度可能会稍微慢一些，从而造成限制或瓶颈。在过去的两个半月到三个月里，这些挑战确实是我们关注的焦点。<i>但是，这些问题本质上是短期的，是可以解决的问题</i>因此，我们看不到任何与提升供应链相关的长期系统性挑战。（Rivian 2021 年第三季度盈利看涨期权）<p class=\"t-img-caption\"><span>Rivian计划产能和交付共识估计。数据来源：S&amp;P Capital IQ、巴伦周刊</span></p></blockquote></p><p> Rivian telegraphed that it would be commencing its new Georgia production facility in mid'22 and ready to begin production from 2024. Georgia's planned annual run rate is estimated at 400K. Therefore, it would afford Rivian a collective annual production capacity of 600K if we include its Illinois facility. Nevertheless, the company did not specify how long it would take to ramp production to its planned capacity. However, consensus estimates point to a relatively positive ramp through FY25. As a result, Rivian is estimated to deliver about 40K of vehicles in FY22. However, it would reach the 360K milestone by FY25, registering an estimated delivery CAGR of 108%. Its 360K estimate includes the 100K EDV orders from its exclusive last-mile delivery partner and cornerstone investor Amazon (AMZN).</p><p><blockquote>Rivian电报称，该公司将于 2022 年中期在佐治亚州启动新的生产设施，并准备从 2024 年开始生产。佐治亚州的计划年运行率估计为40万。因此，如果算上伊利诺伊州工厂，Rivian的年产能将达到 60 万辆。不过，该公司没有具体说明将产量提高到计划产能需要多长时间。然而，共识估计表明，2025 财年将出现相对积极的增长。因此，Rivian预计将在 2022 财年交付约 4 万辆汽车。然而，到 25 财年，它将达到 36 万辆的里程碑，预计交付复合年增长率为 108%。其 36 万份估计包括来自其独家最后一英里配送合作伙伴和基石投资者亚马逊 (AMZN) 的 10 万份 EDV 订单。</blockquote></p><p></p><p> There's little doubt that the delivery cadence estimates look very aggressive. But, if done well, it's also not impossible. Keen investors should recall that Tesla (TSLA) took just two years to ramp Giga Shanghai from zero to its current 600K annual run rate. It has even recently made new investments to enhance its production capacity further. Rivian also seems highly confident that they can ramp successfully, as CEO RJ Scaringe emphasized (edited):</p><p><blockquote>毫无疑问，交付节奏的估计看起来非常激进。但是，如果做得好，这也不是不可能的。敏锐的投资者应该还记得，特斯拉 (TSLA) 仅用了两年时间就将 Giga Shanghai 从零提高到目前 60 万辆的年运行率。它最近甚至进行了新的投资，以进一步提高其产能。正如首席执行官 RJ Scaringe 强调的那样，Rivian似乎也对他们能够成功实现增长充满信心（编辑）：</blockquote></p><p>   We've architected the product development to be capable of running more than one program and launching more than one program at once, but also to have those fast feedback loops between the different programs. So with that, the commercial van has actually learned a lot from the R1 platform and the R1 platform launch. What you see in terms of the facility in Georgia, is key for us from an expansion point of view. We're quite confident in the path ahead. All three of our vehicles have been certified for sale and they're being produced on two different production lines.   <i>The organization was architected to facilitate running and operating multiple programs at the same time</i>. And so as we now look at what the ramp will look like for both R1T and R1S into next year, it really positions us to rapidly grow through the course of 2022. (Rivian's FQ3'21 earnings call)  While it's still early, Rivian investors are undoubtedly confident that the company can deliver on its production cadence to meet its delivery milestones. The company is not facing a demand issue compared to short-term supply constraints. They updated that R1 orders have climbed to 71K from 55K in the previous update. Nevertheless, these are cancelable orders, as their delivery timeline has been stretched to 2023 if a new order is placed now. Given that auto leaders General Motors, Ford, and Tesla will also be expected to compete with their pickup trucks soon, Rivian must maintain its production cadence. Therefore, we encourage investors to monitor their production milestones very carefully moving ahead.</p><p><blockquote>我们设计了产品开发，使其能够运行多个程序并同时启动多个程序，同时还能在不同程序之间实现快速反馈循环。因此，商用厢式货车实际上从R1平台和R1平台发布中学到了很多东西。从扩张的角度来看，您在佐治亚州的工厂对我们来说至关重要。我们对前进的道路很有信心。我们的所有三款车辆都已获得销售认证，并在两条不同的生产线上生产。<i>该组织的架构是为了便于同时运行和操作多个程序</i>.因此，当我们现在看到明年 R1T 和 R1S 的斜坡时，它确实使我们能够在 2022 年快速增长。（Rivian 的 2021 年第三季度盈利看涨期权）虽然现在还为时尚早，但Rivian投资者无疑对该公司能够加快生产节奏以实现交付里程碑充满信心。与短期供应限制相比，该公司并未面临需求问题。他们更新说，R1订单已经从上次更新的5.5万攀升到7.1万。尽管如此，这些都是可取消的订单，因为如果现在下新订单，它们的交货时间表已延长至 2023 年。鉴于汽车领导者通用汽车、福特和特斯拉预计也将很快与他们的皮卡车竞争，Rivian必须保持其生产节奏。因此，我们鼓励投资者在未来非常仔细地监控其生产里程碑。</blockquote></p><p> <b>Investors Must Carefully Monitor Amazon's EDV Range</b></p><p><blockquote><b>投资者必须仔细监控亚马逊的 EDV 产品系列</b></blockquote></p><p> The partnership with Amazon is critical to jumpstarting Rivian's ambitions into the commercial fleet segment. Not only does it offer the opportunity of massive fleet sales, but it also sells its fleet management subscriptions as part of its commercial sales. Consequently, it introduces a recurring software revenue stream component on top of its hardware revenue. It also applies to the Amazon fleet, as Rivian accentuated: \"That software subscription goes live basically now on the commercial side.\"</p><p><blockquote>与亚马逊的合作对于启动 Rivian 进军商业车队领域的雄心至关重要。它不仅提供了大规模车队销售的机会，还将其车队管理订阅作为商业销售的一部分出售。因此，除了硬件收入之外，它还引入了一个经常性的软件收入流组成部分。这也适用于亚马逊车队，正如Rivian强调的那样：“该软件订阅现在基本上已经在商业方面上线。”</blockquote></p><p> Rivian is expected to deliver 10K EDV by 2022 following \"months of testing&nbsp;in 15 cities.\" Investors should remember that Amazon retains the right to change its number of orders. Therefore it's critical that Rivian can meet Amazon's expectations. We believe it has also driven Rivian to ramp production quickly. Given how quickly they secured their second production facility, we believe that the company seems confident in meeting its production targets, and consequently, Amazon's orders.</p><p><blockquote>经过“在 15 个城市进行数月的测试”，Rivian预计到 2022 年将交付 1 万台 EDV。投资者应该记住，亚马逊保留更改其订单数量的权利。因此，Rivian能够满足亚马逊的期望至关重要。我们相信这也促使Rivian迅速提高产量。考虑到他们获得第二个生产设施的速度，我们相信该公司似乎有信心实现其生产目标，从而实现亚马逊的订单。</blockquote></p><p> Rivian emphasized that its EDV is capable of 201 miles range, and it is on track to deliver its vehicles to Amazon. However, a previous report by The Information highlighted some challenges in Amazon's testing, on top of its battery draining problem. The Information reported (edited):</p><p><blockquote>Rivian强调，其 EDV 的续航里程为 201 英里，并且有望向亚马逊交付车辆。然而，《信息报》之前的一份报告强调了亚马逊测试中的一些挑战，除了电池耗尽问题之外。报告信息（编辑）：</blockquote></p><p>   Rivian said the Amazon vans would have a range of between 120 miles and 150 miles depending on their size. But one driver involved in testing the vans said the range could be much less, depending on the weather. The driver who spoke to The Information said the battery drained about 40% faster than normal if the van’s heating or cooling was on. As a result, drivers have been testing the vans on what they dubbed “nursery routes,” where vans didn’t venture too far away from the contractors’ headquarters. (The Information)  Nevertheless, Amazon's director of Global Fleets and Products, Ross Rachey, noted that once the vans are in production, \"they would have a range of 150 miles, which is double the range of the majority of Amazon's routes.\" Notably, the company also quickly emphasized that these test vans are not fully developed yet.</p><p><blockquote>Rivian表示，亚马逊货车的续航里程将在 120 英里至 150 英里之间，具体取决于其尺寸。但一名参与测试货车的司机表示，根据天气情况，续航里程可能会短得多。接受《信息报》采访的司机说，如果面包车开着暖气或冷却装置，电池的耗尽速度会比正常情况快 40% 左右。因此，司机们一直在他们所谓的 “苗圃路线 ”上测试货车，在这些路线上，货车不会冒险离开承包商总部太远。（The Information）尽管如此，亚马逊全球车队和产品总监 Ross Rachey 指出，一旦这些货车投入生产，“它们的续航里程将达到 150 英里，是亚马逊大多数路线续航里程的两倍。”值得注意的是，该公司还很快强调，这些测试货车尚未完全开发。</blockquote></p><p> We believe a successful launch program with Amazon could open up many potential opportunities outside of the Last Mile segment. Investors should note that Amazon's exclusive partnership with Rivian is limited to Last Mile. But, the commercial space is much larger than the Last Mile segment. Rivian also raved about its market opportunities in the larger commercial space, as Scaringe added (edited):</p><p><blockquote>我们相信，与亚马逊的成功发布计划可以在最后一英里领域之外开辟许多潜在的机会。投资者应该注意，亚马逊与Rivian的独家合作仅限于最后一英里。但是，商业空间比最后一英里段大得多。Rivian还对其在更大的商业空间中的市场机会赞不绝口，斯卡林奇补充道（编辑）：</blockquote></p><p></p><p>   <i>Amazon represents such a large pool of demand for us.</i>So it's really critical that we do not starve them of vehicles. Nevertheless, the RCV platform was architected and designed   <i>fully contemplating vehicles beyond Last Mile, such as in the cargo space</i>, or in the workspace. So there's a whole host of opportunities that exists both in large volumes, but also across a very long spread-out tail of commercial applications. Thus, we also have an eye on launching non-EDV versions on the RCV platform to capitalize on these opportunities. (Rivian's FQ3'21 earnings call)  <b>So, is RIVN Stock a Buy/Hold/Sell Now?</b></p><p><blockquote><i>亚马逊代表了我们如此庞大的需求。</i>因此，我们不要让他们挨饿，这一点非常重要。然而，RCV平台的架构和设计<i>充分考虑最后一英里以外的车辆，例如货舱</i>，或在工作区中。因此，有一大堆机会，既存在于大量，也存在于一个非常长的商业应用尾部。因此，我们也着眼于在RCV平台上推出非EDV版本，以利用这些机会。（Rivian 2021 年第三季度盈利看涨期权）<b>那么，RIVN股票现在是买入/持有/卖出吗？</b></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/264dc3dc91fc844d920e73a7f69cf920\" tg-width=\"640\" tg-height=\"395\" referrerpolicy=\"no-referrer\"><span>Rivian revenue and adjusted EBIT margins mean consensus estimates. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>Rivian收入和调整后息税前利润率是普遍预期。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1069e7fc16920da396615f6df6ff5951\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"><span>RIVN and TSLA stock EV/Fwd Revenue valuation comps. Data source: S&amp;P Capital IQ</span></p><p><blockquote><p class=\"t-img-caption\"><span>RIVN 和 TSLA 股票 EV/Fwd 收入估值比较。数据来源：S&amp;P Capital IQ</span></p></blockquote></p><p> Consensus estimates point to a largely successful ramp, as we explained earlier. As a result, Rivian's revenue is estimated to reach $27.84B by FY25. However, the company is not expected to be profitable based on adjusted EBIT margins by then. Therefore, investors are encouraged to monitor its production ramp and profitability dynamics moving forward carefully.</p><p><blockquote>正如我们之前解释的那样，共识估计指向一个很大程度上成功的斜坡。因此，到 2025 财年，Rivian 的收入预计将达到 27.84B 美元。然而，根据调整后的息税前利润率，预计该公司届时不会盈利。因此，鼓励投资者仔细监控其产量增长和盈利能力动态。</blockquote></p><p> Nevertheless, its valuations have dropped significantly since its earlier momentum spike. The stock has declined more than 25% since our Neutral call, as we encouraged investors to wait for the dip.</p><p><blockquote>然而，自早些时候的势头飙升以来，其估值已大幅下降。自我们采取中性看涨期权以来，该股已下跌超过 25%，因为我们鼓励投资者等待下跌。</blockquote></p><p> If we consider Rivian's valuations against Tesla moving forward, it may seem more reasonable than the EV leader. However, investors should note that Tesla is already a solidly profitable EV maker. It also has proven its production ramp capabilities exceptionally well. Moreover, its brand value has also increased tremendously globally. Therefore, comparing their revenue multiples directly without adjusting for Tesla's advantages would not make sense.</p><p><blockquote>如果我们将 Rivian 的估值与特斯拉的估值进行比较，它似乎比电动汽车领导者更合理。然而，投资者应该注意到，特斯拉已经是一家盈利稳健的电动汽车制造商。它还证明了其出色的生产能力。此外，其品牌价值在全球范围内也大幅增长。因此，在不调整特斯拉优势的情况下直接比较它们的收入倍数是没有意义的。</blockquote></p><p> Based on Rivian stock's EV/FY25 revenue multiple of 3.4x, it's trading at 50% of Tesla's FY25 revenue multiple. Therefore, we think RIVN stock looks fairly valued now. Nevertheless, we believe that RIVN stock remains a highly speculative play. However, the company seems to be getting well on track to meet its mid-term production guidance. Therefore, the current weakness could offer speculative investors a potential opportunity to add exposure at a more reasonable valuation.</p><p><blockquote>根据Rivian股票 3.4 倍的 EV/25 财年收入倍数，其交易价格是特斯拉 25 财年收入倍数的 50%。因此，我们认为 RIVN 股票现在看起来估值合理。尽管如此，我们认为 RIVN 股票仍然是一个高度投机性的股票。然而，该公司似乎正在顺利实现中期生产指导。因此，当前的疲软可能会为投机投资者提供一个以更合理的估值增加风险敞口的潜在机会。</blockquote></p><p> Consequently,<i>we revise our rating on RIVN stock to Buy.</i>However, we would like to caution that RIVN stock may be suitable for speculative investors only. Moreover, the stock could continue to exhibit tremendous volatility. Therefore, investors are encouraged to add in phases.</p><p><blockquote>因此，<i>我们将 RIVN 股票的评级修改为买入。</i>然而，我们想提醒的是，RIVN 股票可能只适合投机投资者。此外，该股可能会继续表现出巨大的波动性。因此，鼓励投资者分阶段增持。</blockquote></p><p> This article was written by&nbsp;JR Research.</p><p><blockquote>本文由JR Research撰写。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4476199-rivian-stock-buy-sell-hold\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RIVN":"Rivian Automotive, Inc."},"source_url":"https://seekingalpha.com/article/4476199-rivian-stock-buy-sell-hold","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123940793","content_text":"Summary\n\nRivian stock has dropped more than 25% since our last Neutral call.\nThe company reported a slight production target miss in its FQ3 earnings call. However, we don't think investors should be overly worried.\nWe discuss why we think RIVN stock is a Buy now.\n\nMichael M. Santiago/Getty Images News\nInvestment Thesis\nRivian Automotive, Inc. (RIVN) recently released its first earnings reports for FQ3'21 as a public company. Notably, the company missed its 1,200 vehicle production target by \"a few hundred vehicles.\" However, we weren't surprised, given the current supply chain bottlenecks and the challenges in ramping production. Moreover, we don't think investors should be unduly concerned about its short-term production goal. Management was clear as it emphasized that its long-term production targets remain unaffected.\nNevertheless, we believe that ramping production successfully will continue to be a key hurdle facing CEO RJ Scaringe & Co. Investors sent the stock tumbling after its earnings report, which we believe the market took the opportunity to pare down risk. After all, RIVN stock had traded at an incredible market cap of $112.8B when we wrote our previous article. Following the recent sell-off, Rivian's market cap has dropped to $88B. Therefore, we believe it's an appropriate time to revisit our thesis on RIVN stock post-FQ3 earnings.\nWe also discuss why we think the stock seems fairly valued now.\nRivian Market Cap Trend\nRIVN market cap analysis (as of 17 December'21).\nReaders can quickly glean that Rivian's market cap has dropped dramatically back to where it started life as a public company. It last registered a market cap of $88B, while it began trading with a market cap of $83.6B in early November.\nNevertheless, Rivian's market cap still exceeded Ford (F) and General Motors (GM) market cap even as it just started making deliveries in September. Some investors find it incredulous that a company that hasn't even ramped production could be worth more than both the US auto leaders.\nWhy We Think Rivian Investors Remain Optimistic Post-FQ3\nRivian's report card wasn't a disaster, even if the company missed its production guidance for 2021. CEO RJ Scaringe offered assurances as he emphasized (edited):\n\n For 2021, \n we expect to produce a few hundred vehicles short of our initial 1,200 vehicle production target. We do not believe any of our supply chain challenges represent long-term systemic issues. We remain well-positioned to capture and drive the accelerated large-scale adoption of sustainable transportation. However, a small number of suppliers or small number of components may be ramping a little slower, creating constraints or bottlenecks. Those challenges have been really a focal point for us over the last two and a half, three months. \n But, these issues are short-term in nature and they are solvable problems. So, we don't see any long-term systemic challenges associated with ramping the supply chain. (Rivian's FQ3'21 earnings call)\n\nRivian planned production capacity and delivery consensus estimates. Data source: S&P Capital IQ, Barron's\nRivian telegraphed that it would be commencing its new Georgia production facility in mid'22 and ready to begin production from 2024. Georgia's planned annual run rate is estimated at 400K. Therefore, it would afford Rivian a collective annual production capacity of 600K if we include its Illinois facility. Nevertheless, the company did not specify how long it would take to ramp production to its planned capacity. However, consensus estimates point to a relatively positive ramp through FY25. As a result, Rivian is estimated to deliver about 40K of vehicles in FY22. However, it would reach the 360K milestone by FY25, registering an estimated delivery CAGR of 108%. Its 360K estimate includes the 100K EDV orders from its exclusive last-mile delivery partner and cornerstone investor Amazon (AMZN).\nThere's little doubt that the delivery cadence estimates look very aggressive. But, if done well, it's also not impossible. Keen investors should recall that Tesla (TSLA) took just two years to ramp Giga Shanghai from zero to its current 600K annual run rate. It has even recently made new investments to enhance its production capacity further. Rivian also seems highly confident that they can ramp successfully, as CEO RJ Scaringe emphasized (edited):\n\n We've architected the product development to be capable of running more than one program and launching more than one program at once, but also to have those fast feedback loops between the different programs. So with that, the commercial van has actually learned a lot from the R1 platform and the R1 platform launch. What you see in terms of the facility in Georgia, is key for us from an expansion point of view. We're quite confident in the path ahead. All three of our vehicles have been certified for sale and they're being produced on two different production lines. \n The organization was architected to facilitate running and operating multiple programs at the same time. And so as we now look at what the ramp will look like for both R1T and R1S into next year, it really positions us to rapidly grow through the course of 2022. (Rivian's FQ3'21 earnings call)\n\nWhile it's still early, Rivian investors are undoubtedly confident that the company can deliver on its production cadence to meet its delivery milestones. The company is not facing a demand issue compared to short-term supply constraints. They updated that R1 orders have climbed to 71K from 55K in the previous update. Nevertheless, these are cancelable orders, as their delivery timeline has been stretched to 2023 if a new order is placed now. Given that auto leaders General Motors, Ford, and Tesla will also be expected to compete with their pickup trucks soon, Rivian must maintain its production cadence. Therefore, we encourage investors to monitor their production milestones very carefully moving ahead.\nInvestors Must Carefully Monitor Amazon's EDV Range\nThe partnership with Amazon is critical to jumpstarting Rivian's ambitions into the commercial fleet segment. Not only does it offer the opportunity of massive fleet sales, but it also sells its fleet management subscriptions as part of its commercial sales. Consequently, it introduces a recurring software revenue stream component on top of its hardware revenue. It also applies to the Amazon fleet, as Rivian accentuated: \"That software subscription goes live basically now on the commercial side.\"\nRivian is expected to deliver 10K EDV by 2022 following \"months of testing in 15 cities.\" Investors should remember that Amazon retains the right to change its number of orders. Therefore it's critical that Rivian can meet Amazon's expectations. We believe it has also driven Rivian to ramp production quickly. Given how quickly they secured their second production facility, we believe that the company seems confident in meeting its production targets, and consequently, Amazon's orders.\nRivian emphasized that its EDV is capable of 201 miles range, and it is on track to deliver its vehicles to Amazon. However, a previous report by The Information highlighted some challenges in Amazon's testing, on top of its battery draining problem. The Information reported (edited):\n\n Rivian said the Amazon vans would have a range of between 120 miles and 150 miles depending on their size. But one driver involved in testing the vans said the range could be much less, depending on the weather. The driver who spoke to The Information said the battery drained about 40% faster than normal if the van’s heating or cooling was on. As a result, drivers have been testing the vans on what they dubbed “nursery routes,” where vans didn’t venture too far away from the contractors’ headquarters. (The Information)\n\nNevertheless, Amazon's director of Global Fleets and Products, Ross Rachey, noted that once the vans are in production, \"they would have a range of 150 miles, which is double the range of the majority of Amazon's routes.\" Notably, the company also quickly emphasized that these test vans are not fully developed yet.\nWe believe a successful launch program with Amazon could open up many potential opportunities outside of the Last Mile segment. Investors should note that Amazon's exclusive partnership with Rivian is limited to Last Mile. But, the commercial space is much larger than the Last Mile segment. Rivian also raved about its market opportunities in the larger commercial space, as Scaringe added (edited):\n\nAmazon represents such a large pool of demand for us.So it's really critical that we do not starve them of vehicles. Nevertheless, the RCV platform was architected and designed \n fully contemplating vehicles beyond Last Mile, such as in the cargo space, or in the workspace. So there's a whole host of opportunities that exists both in large volumes, but also across a very long spread-out tail of commercial applications. Thus, we also have an eye on launching non-EDV versions on the RCV platform to capitalize on these opportunities. (Rivian's FQ3'21 earnings call)\n\nSo, is RIVN Stock a Buy/Hold/Sell Now?\nRivian revenue and adjusted EBIT margins mean consensus estimates. Data source: S&P Capital IQ\nRIVN and TSLA stock EV/Fwd Revenue valuation comps. Data source: S&P Capital IQ\nConsensus estimates point to a largely successful ramp, as we explained earlier. As a result, Rivian's revenue is estimated to reach $27.84B by FY25. However, the company is not expected to be profitable based on adjusted EBIT margins by then. Therefore, investors are encouraged to monitor its production ramp and profitability dynamics moving forward carefully.\nNevertheless, its valuations have dropped significantly since its earlier momentum spike. The stock has declined more than 25% since our Neutral call, as we encouraged investors to wait for the dip.\nIf we consider Rivian's valuations against Tesla moving forward, it may seem more reasonable than the EV leader. However, investors should note that Tesla is already a solidly profitable EV maker. It also has proven its production ramp capabilities exceptionally well. Moreover, its brand value has also increased tremendously globally. Therefore, comparing their revenue multiples directly without adjusting for Tesla's advantages would not make sense.\nBased on Rivian stock's EV/FY25 revenue multiple of 3.4x, it's trading at 50% of Tesla's FY25 revenue multiple. Therefore, we think RIVN stock looks fairly valued now. Nevertheless, we believe that RIVN stock remains a highly speculative play. However, the company seems to be getting well on track to meet its mid-term production guidance. Therefore, the current weakness could offer speculative investors a potential opportunity to add exposure at a more reasonable valuation.\nConsequently,we revise our rating on RIVN stock to Buy.However, we would like to caution that RIVN stock may be suitable for speculative investors only. Moreover, the stock could continue to exhibit tremendous volatility. Therefore, investors are encouraged to add in phases.\nThis article was written by JR Research.","news_type":1,"symbols_score_info":{"RIVN":0.9}},"isVote":1,"tweetType":1,"viewCount":4909,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":690157241,"gmtCreate":1639649124303,"gmtModify":1639649124303,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Very good&nbsp;","listText":"Very good&nbsp;","text":"Very good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690157241","repostId":"1190976291","repostType":4,"repost":{"id":"1190976291","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639645564,"share":"https://www.laohunote.com/m/news/1190976291?lang=zh_CN&edition=full","pubTime":"2021-12-16 17:06","market":"us","language":"en","title":"EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%<blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、Tesla、Lucid、Xpeng 上涨超过 2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190976291","media":"Tiger Newspress","summary":"EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumpi","content":"<p>EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%.<img src=\"https://static.tigerbbs.com/4dff46b3a87591d45993089709370d13\" tg-width=\"283\" tg-height=\"473\" width=\"100%\" height=\"auto\">Rivian&nbsp;will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press.</p><p><blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、特斯拉、Lucid、小鹏汽车上涨超过 2%。了解这一决定的消息人士告诉美联社，Rivian将于周四宣布将在亚特兰大东部建造一座耗资 50 亿美元的电池和装配厂，预计将雇用 7500 名工人。</blockquote></p><p> Canoo plans&nbsp;to accelerate and now shift production of its breakthrough EVs from Europe to U.S., commence manufacturing at its advanced industrialization facility planned for&nbsp;Northwest Arkansas&nbsp;and remains on target to bring online its Mega Micro factory in&nbsp;Pryor, Oklahoma&nbsp;in late 2023.</p><p><blockquote>Canoo 计划加快其突破性电动汽车的生产，现在将其突破性电动汽车的生产从欧洲转移到美国，开始在计划在阿肯色州西北部建设的先进工业化工厂进行制造，并继续实现其位于俄克拉荷马州普赖尔的大型微型工厂于 2023 年底上线的目标。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%<blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、Tesla、Lucid、Xpeng 上涨超过 2%</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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*/\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%<blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、Tesla、Lucid、Xpeng 上涨超过 2%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-16 17:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%.<img src=\"https://static.tigerbbs.com/4dff46b3a87591d45993089709370d13\" tg-width=\"283\" tg-height=\"473\" width=\"100%\" height=\"auto\">Rivian&nbsp;will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press.</p><p><blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、特斯拉、Lucid、小鹏汽车上涨超过 2%。了解这一决定的消息人士告诉美联社，Rivian将于周四宣布将在亚特兰大东部建造一座耗资 50 亿美元的电池和装配厂，预计将雇用 7500 名工人。</blockquote></p><p> Canoo plans&nbsp;to accelerate and now shift production of its breakthrough EVs from Europe to U.S., commence manufacturing at its advanced industrialization facility planned for&nbsp;Northwest Arkansas&nbsp;and remains on target to bring online its Mega Micro factory in&nbsp;Pryor, Oklahoma&nbsp;in late 2023.</p><p><blockquote>Canoo 计划加快其突破性电动汽车的生产，现在将其突破性电动汽车的生产从欧洲转移到美国，开始在计划在阿肯色州西北部建设的先进工业化工厂进行制造，并继续实现其位于俄克拉荷马州普赖尔的大型微型工厂于 2023 年底上线的目标。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","RIVN":"Rivian Automotive, Inc.","XPEV":"小鹏集团","LCID":"Lucid Group Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190976291","content_text":"EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%.Rivian will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press.\nCanoo plans to accelerate and now shift production of its breakthrough EVs from Europe to U.S., commence manufacturing at its advanced industrialization facility planned for Northwest Arkansas and remains on target to bring online its Mega Micro factory in Pryor, Oklahoma in late 2023.","news_type":1,"symbols_score_info":{"XPEV":0.9,"RIVN":0.9,"GOEV":0.9,"TSLA":0.9,"LCID":0.9}},"isVote":1,"tweetType":1,"viewCount":3153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605164600,"gmtCreate":1639131436816,"gmtModify":1639131466701,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"OMG 😱&nbsp;","listText":"OMG 😱&nbsp;","text":"OMG 😱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605164600","repostId":"1116553400","repostType":4,"isVote":1,"tweetType":1,"viewCount":4015,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":602884456,"gmtCreate":1639007464226,"gmtModify":1639014761299,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Thanks PSFE&nbsp;for ramping up","listText":"Thanks PSFE&nbsp;for ramping up","text":"Thanks PSFE for ramping up","images":[{"img":"https://static.tigerbbs.com/153855abef4afb552a111fb4325fd511","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/602884456","isVote":1,"tweetType":1,"viewCount":2508,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":606319033,"gmtCreate":1638833841143,"gmtModify":1638833841143,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/DVN\">$Devon(DVN)$</a>Good dividends at $0.85","listText":"<a href=\"https://laohu8.com/S/DVN\">$Devon(DVN)$</a>Good dividends at $0.85","text":"$Devon(DVN)$Good dividends at $0.85","images":[{"img":"https://static.tigerbbs.com/5aa2909c01f4793c6298aa0eeb16732f","width":"750","height":"2467"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/606319033","isVote":1,"tweetType":1,"viewCount":4841,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":601303914,"gmtCreate":1638488899661,"gmtModify":1638488899661,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Wahhhh","listText":"Wahhhh","text":"Wahhhh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/601303914","repostId":"2188951783","repostType":2,"isVote":1,"tweetType":1,"viewCount":3906,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":877400693,"gmtCreate":1637966328906,"gmtModify":1637979615677,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Oh no,Another new variant?&nbsp;B.1.1.529&nbsp;","listText":"Oh no,Another new variant?&nbsp;B.1.1.529&nbsp;","text":"Oh no,Another new variant? B.1.1.529","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/877400693","repostId":"1125886564","repostType":4,"repost":{"id":"1125886564","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1637938179,"share":"https://www.laohunote.com/m/news/1125886564?lang=zh_CN&edition=full","pubTime":"2021-11-26 22:49","market":"us","language":"en","title":"Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23%.<blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125886564","media":"Tiger Newspress","summary":"Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23% and BioNTech ","content":"<p>Vaccine&nbsp;stocks&nbsp;continued&nbsp;to&nbsp;rise&nbsp;in&nbsp;early&nbsp;trading,&nbsp;Moderna&nbsp;shares&nbsp;surged&nbsp;more&nbsp;than&nbsp;23%&nbsp;and&nbsp;BioNTech&nbsp;jumped&nbsp;nearly&nbsp;19%.<img src=\"https://static.tigerbbs.com/2e9f40662925ec57d0176cf5f1e36df4\" tg-width=\"876\" tg-height=\"613\" referrerpolicy=\"no-referrer\">Germany's BioNTech &nbsp;said it is studying the effectiveness of its COVID-19 vaccine against the new B.1.1.529 variant detected in South Africa - The Economic Times.</p><p><blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%，BioNTech大涨近19%。德国 BioNTech 表示，正在研究其新冠肺炎疫苗对南非检测到的新 B.1.1.529 变种的有效性 - 经济时报。</blockquote></p><p> \"We expect more data from the laboratory tests in two weeks at the latest. These data will provide more information about whether B.1.1.529 could be an escape variant that may require an adjustment of our vaccine if the variant spreads globally,\" a BioNTech spokesperson said.</p><p><blockquote>BioNTech 发言人表示：“我们预计最迟两周内将获得更多来自实验室测试的数据。这些数据将提供有关 B.1.1.529 是否可能是逃逸变种的更多信息，如果该变种在全球传播，可能需要调整我们的疫苗。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23%.<blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVaccine stocks continued to rise in early trading, Moderna shares surged more than 23%.<blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-26 22:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Vaccine&nbsp;stocks&nbsp;continued&nbsp;to&nbsp;rise&nbsp;in&nbsp;early&nbsp;trading,&nbsp;Moderna&nbsp;shares&nbsp;surged&nbsp;more&nbsp;than&nbsp;23%&nbsp;and&nbsp;BioNTech&nbsp;jumped&nbsp;nearly&nbsp;19%.<img src=\"https://static.tigerbbs.com/2e9f40662925ec57d0176cf5f1e36df4\" tg-width=\"876\" tg-height=\"613\" referrerpolicy=\"no-referrer\">Germany's BioNTech &nbsp;said it is studying the effectiveness of its COVID-19 vaccine against the new B.1.1.529 variant detected in South Africa - The Economic Times.</p><p><blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%，BioNTech大涨近19%。德国 BioNTech 表示，正在研究其新冠肺炎疫苗对南非检测到的新 B.1.1.529 变种的有效性 - 经济时报。</blockquote></p><p> \"We expect more data from the laboratory tests in two weeks at the latest. These data will provide more information about whether B.1.1.529 could be an escape variant that may require an adjustment of our vaccine if the variant spreads globally,\" a BioNTech spokesperson said.</p><p><blockquote>BioNTech 发言人表示：“我们预计最迟两周内将获得更多来自实验室测试的数据。这些数据将提供有关 B.1.1.529 是否可能是逃逸变种的更多信息，如果该变种在全球传播，可能需要调整我们的疫苗。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125886564","content_text":"Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23% and BioNTech jumped nearly 19%.Germany's BioNTech  said it is studying the effectiveness of its COVID-19 vaccine against the new B.1.1.529 variant detected in South Africa - The Economic Times.\n\"We expect more data from the laboratory tests in two weeks at the latest. These data will provide more information about whether B.1.1.529 could be an escape variant that may require an adjustment of our vaccine if the variant spreads globally,\" a BioNTech spokesperson said.","news_type":1,"symbols_score_info":{"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":4085,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":879034880,"gmtCreate":1636669375314,"gmtModify":1636669375419,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/RIVN\">$Rivian Automotive, Inc.(RIVN)$</a>WowStill ramping up 🆙&nbsp;","listText":"<a href=\"https://laohu8.com/S/RIVN\">$Rivian Automotive, Inc.(RIVN)$</a>WowStill ramping up 🆙&nbsp;","text":"$Rivian Automotive, Inc.(RIVN)$WowStill ramping up 🆙","images":[{"img":"https://static.tigerbbs.com/8527a3ba4b1c8df131cad2d2c4e63212","width":"750","height":"2443"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/879034880","isVote":1,"tweetType":1,"viewCount":2769,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":847140008,"gmtCreate":1636503143035,"gmtModify":1636503143105,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/RIVN\">$Rivian Automotive, Inc.(RIVN)$</a>Waiting for you🤗","listText":"<a href=\"https://laohu8.com/S/RIVN\">$Rivian Automotive, Inc.(RIVN)$</a>Waiting for you🤗","text":"$Rivian Automotive, Inc.(RIVN)$Waiting for you🤗","images":[{"img":"https://static.tigerbbs.com/23837628a6f82722603d6c498fd68037","width":"750","height":"2217"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/847140008","isVote":1,"tweetType":1,"viewCount":1026,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":847155866,"gmtCreate":1636502969783,"gmtModify":1636502969849,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Great&nbsp;","listText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Great&nbsp;","text":"$STMicroelectronics NV(STM)$Great","images":[{"img":"https://static.tigerbbs.com/82c2f3813d9101135ebfc4af7ddff21e","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/847155866","isVote":1,"tweetType":1,"viewCount":706,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":845204249,"gmtCreate":1636338300305,"gmtModify":1636338300451,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/C6L.SI\">$SINGAPORE AIRLINES LTD(C6L.SI)$</a>Go up 🆙&nbsp;","listText":"<a href=\"https://laohu8.com/S/C6L.SI\">$SINGAPORE AIRLINES 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👍&nbsp;","text":"$STMicroelectronics NV(STM)$Keep it up 👍","images":[{"img":"https://static.tigerbbs.com/70468f0405005807c8b31005992385bb","width":"750","height":"2280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/842510697","isVote":1,"tweetType":1,"viewCount":763,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":846530396,"gmtCreate":1636094114414,"gmtModify":1636094115011,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Go go go","listText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Go go go","text":"$STMicroelectronics NV(STM)$Go go go","images":[{"img":"https://static.tigerbbs.com/a1d04abc26527cc05bcdc54c42687fc0","width":"828","height":"1632"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/846530396","isVote":1,"tweetType":1,"viewCount":722,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":846504366,"gmtCreate":1636092596816,"gmtModify":1636092596937,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Continues to grow👏👏👏Keep it up🦾🦾🦾","listText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Continues to grow👏👏👏Keep it up🦾🦾🦾","text":"$STMicroelectronics NV(STM)$Continues to grow👏👏👏Keep it up🦾🦾🦾","images":[{"img":"https://static.tigerbbs.com/437988f6a34ebacea2298432adb9f799","width":"750","height":"2335"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/846504366","isVote":1,"tweetType":1,"viewCount":866,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":848438905,"gmtCreate":1636018154462,"gmtModify":1636018239647,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/JBFCF\">$Jollibee Foods Corp.(JBFCF)$</a>Wow","listText":"<a href=\"https://laohu8.com/S/JBFCF\">$Jollibee Foods Corp.(JBFCF)$</a>Wow","text":"$Jollibee Foods Corp.(JBFCF)$Wow","images":[{"img":"https://static.tigerbbs.com/a02cc291a00afb9261e1fd425df1aceb","width":"750","height":"2034"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/848438905","isVote":1,"tweetType":1,"viewCount":929,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":841318134,"gmtCreate":1635887546641,"gmtModify":1635887546641,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Continue to soar high","listText":"<a href=\"https://laohu8.com/S/STM\">$STMicroelectronics NV(STM)$</a>Continue to soar high","text":"$STMicroelectronics NV(STM)$Continue to soar high","images":[{"img":"https://static.tigerbbs.com/abeddb2d12901b1a94135d41cd15dc90","width":"750","height":"2280"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/841318134","isVote":1,"tweetType":1,"viewCount":864,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":843269729,"gmtCreate":1635833079926,"gmtModify":1635833079926,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4096119408780510","idStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/CLNE\">$Clean Energy Fuels(CLNE)$</a>Go go go","listText":"<a href=\"https://laohu8.com/S/CLNE\">$Clean Energy Fuels(CLNE)$</a>Go go go","text":"$Clean Energy Fuels(CLNE)$Go go go","images":[{"img":"https://static.tigerbbs.com/1515ef2b07b3200899e674aa68cca634","width":"750","height":"2552"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843269729","isVote":1,"tweetType":1,"viewCount":1365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0}],"hots":[{"id":877400693,"gmtCreate":1637966328906,"gmtModify":1637979615677,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096119408780510","authorIdStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Oh no,Another new variant?&nbsp;B.1.1.529&nbsp;","listText":"Oh no,Another new variant?&nbsp;B.1.1.529&nbsp;","text":"Oh no,Another new variant? B.1.1.529","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/877400693","repostId":"1125886564","repostType":4,"repost":{"id":"1125886564","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1637938179,"share":"https://www.laohunote.com/m/news/1125886564?lang=zh_CN&edition=full","pubTime":"2021-11-26 22:49","market":"us","language":"en","title":"Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23%.<blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1125886564","media":"Tiger Newspress","summary":"Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23% and BioNTech ","content":"<p>Vaccine&nbsp;stocks&nbsp;continued&nbsp;to&nbsp;rise&nbsp;in&nbsp;early&nbsp;trading,&nbsp;Moderna&nbsp;shares&nbsp;surged&nbsp;more&nbsp;than&nbsp;23%&nbsp;and&nbsp;BioNTech&nbsp;jumped&nbsp;nearly&nbsp;19%.<img src=\"https://static.tigerbbs.com/2e9f40662925ec57d0176cf5f1e36df4\" tg-width=\"876\" tg-height=\"613\" referrerpolicy=\"no-referrer\">Germany's BioNTech &nbsp;said it is studying the effectiveness of its COVID-19 vaccine against the new B.1.1.529 variant detected in South Africa - The Economic Times.</p><p><blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%，BioNTech大涨近19%。德国 BioNTech 表示，正在研究其新冠肺炎疫苗对南非检测到的新 B.1.1.529 变种的有效性 - 经济时报。</blockquote></p><p> \"We expect more data from the laboratory tests in two weeks at the latest. These data will provide more information about whether B.1.1.529 could be an escape variant that may require an adjustment of our vaccine if the variant spreads globally,\" a BioNTech spokesperson said.</p><p><blockquote>BioNTech 发言人表示：“我们预计最迟两周内将获得更多来自实验室测试的数据。这些数据将提供有关 B.1.1.529 是否可能是逃逸变种的更多信息，如果该变种在全球传播，可能需要调整我们的疫苗。”</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23%.<blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%。</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVaccine stocks continued to rise in early trading, Moderna shares surged more than 23%.<blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-11-26 22:49</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Vaccine&nbsp;stocks&nbsp;continued&nbsp;to&nbsp;rise&nbsp;in&nbsp;early&nbsp;trading,&nbsp;Moderna&nbsp;shares&nbsp;surged&nbsp;more&nbsp;than&nbsp;23%&nbsp;and&nbsp;BioNTech&nbsp;jumped&nbsp;nearly&nbsp;19%.<img src=\"https://static.tigerbbs.com/2e9f40662925ec57d0176cf5f1e36df4\" tg-width=\"876\" tg-height=\"613\" referrerpolicy=\"no-referrer\">Germany's BioNTech &nbsp;said it is studying the effectiveness of its COVID-19 vaccine against the new B.1.1.529 variant detected in South Africa - The Economic Times.</p><p><blockquote>疫苗股早盘继续上涨，Moderna股价飙升超过23%，BioNTech大涨近19%。德国 BioNTech 表示，正在研究其新冠肺炎疫苗对南非检测到的新 B.1.1.529 变种的有效性 - 经济时报。</blockquote></p><p> \"We expect more data from the laboratory tests in two weeks at the latest. These data will provide more information about whether B.1.1.529 could be an escape variant that may require an adjustment of our vaccine if the variant spreads globally,\" a BioNTech spokesperson said.</p><p><blockquote>BioNTech 发言人表示：“我们预计最迟两周内将获得更多来自实验室测试的数据。这些数据将提供有关 B.1.1.529 是否可能是逃逸变种的更多信息，如果该变种在全球传播，可能需要调整我们的疫苗。”</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MRNA":"Moderna, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125886564","content_text":"Vaccine stocks continued to rise in early trading, Moderna shares surged more than 23% and BioNTech jumped nearly 19%.Germany's BioNTech  said it is studying the effectiveness of its COVID-19 vaccine against the new B.1.1.529 variant detected in South Africa - The Economic Times.\n\"We expect more data from the laboratory tests in two weeks at the latest. These data will provide more information about whether B.1.1.529 could be an escape variant that may require an adjustment of our vaccine if the variant spreads globally,\" a BioNTech spokesperson said.","news_type":1,"symbols_score_info":{"MRNA":0.9}},"isVote":1,"tweetType":1,"viewCount":4085,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":698804795,"gmtCreate":1640330511815,"gmtModify":1640330511815,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096119408780510","authorIdStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/698804795","repostId":"1107827800","repostType":4,"repost":{"id":"1107827800","kind":"news","pubTimestamp":1640326128,"share":"https://www.laohunote.com/m/news/1107827800?lang=zh_CN&edition=full","pubTime":"2021-12-24 14:08","market":"us","language":"en","title":"Sea Limited: An Early Christmas Gift<blockquote>Sea Limited：一份提前的圣诞礼物</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1107827800","media":"Seeking Alpha","summary":"Summary\n\nSea Limited is a growing company in a growing economy.\nAt this stage, the company should be","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Sea Limited is a growing company in a growing economy.</li>  <li>At this stage, the company should be judged on its growth, not earnings.</li>  <li>The recent fall in price makes the stock look attractive when compared to similar growth stories.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f48c8d49ed462ac489fe8f5fa91f5691\" tg-width=\"1536\" tg-height=\"1031\" width=\"100%\" height=\"auto\"><span>FreshSplash/E+ via Getty Images</span></p><p><blockquote><ul><li>Sea Limited是一家在不断增长的经济中成长的公司。</li><li>现阶段，应该根据公司的增长而不是盈利来判断公司。</li><li>与类似的增长故事相比，最近的价格下跌使该股看起来很有吸引力。</li></ul><p class=\"t-img-caption\"><span>FreshSplash/E+ 来自盖蒂图片社</span></p></blockquote></p><p> <b>Thesis Summary</b></p><p><blockquote><b>论文总结</b></blockquote></p><p> Sea Limited (SE) is one of those companies that divide the room. The stock was one of the best performing of 2020/2021 but has now fallen over 30% from its all-time high following a general sell-off which has been most felt in growth stocks.</p><p><blockquote>Sea Limited (SE) 是划分房间的公司之一。该股是 2020/2021 年表现最好的股票之一，但在普遍抛售之后，该股已从历史高点下跌了 30% 以上，这种情况在成长型股票中最为明显。</blockquote></p><p> However, Sea's fundamental growth story remains strong, and the fact that it is running at a loss should not bother investors at this point. If we look at each segment individually, there's a lot to like, and an argument could be made for a much higher price than today. On a final note, Sea should also be aided by the recent policy change coming from China's Central bank, the PBOC, and overall macroeconomic trends.</p><p><blockquote>然而，Sea 的基本面增长故事仍然强劲，目前其亏损的事实不应困扰投资者。如果我们单独看每个细分市场，就会发现有很多值得喜欢的地方，而且可以争论比现在高得多的价格。最后一点，中国央行、中国人民银行和整体宏观经济趋势最近的政策变化也应该有助于Sea。</blockquote></p><p> <b>A Quick Recap</b></p><p><blockquote><b>快速回顾</b></blockquote></p><p> Sea Limited has three main segments; Digital Entertainment (Garena), Financial Services (SeaMoney) and E-commerce (Shopee). This is how they performed in the last quarter.</p><p><blockquote>Sea Limited 有三个主要部门；数字娱乐（Garena）、金融服务（SeaMoney）和电子商务（Shopee）。这就是他们上个季度的表现。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cd726650027bd5d269b8fe1f0dd0b14\" tg-width=\"1280\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：投资者介绍</span></p></blockquote></p><p> As we can see, Digital Entertainment is the only segment bringing in operating income. Meanwhile, eCommerce and Digital Finance are running at a loss. However, the growth rates at this point justify the investment. GMV for Shopee was up 81% YoY, and TPV processed through SeaMoney is up 111% YoY.</p><p><blockquote>正如我们所看到的，数字娱乐是唯一带来经营利润的细分市场。与此同时，电子商务和数字金融正在亏损。然而，目前的增长率证明了投资的合理性。Shopee 的 GMV 同比增长 81%，通过 SeaMoney 处理的 TPV 同比增长 111%。</blockquote></p><p> Despite strong growth across the board, Sea Limited has come down significantly in the last few weeks, providing us with a perfect opportunity to buy a stock with an incredibly appealing fundamental growth story.</p><p><blockquote>尽管全面增长强劲，但 Sea Limited 在过去几周大幅下跌，为我们提供了一个绝佳的机会来购买一只具有令人难以置信的吸引力的基本面增长故事的股票。</blockquote></p><p> <b>Growth And Profitability Prospects</b></p><p><blockquote><b>增长及盈利前景</b></blockquote></p><p> Firstly, let's talk about Sea's main geographical market; Southeast Asia. SEA economies are experiencing not just a fast level of growth, but also digitalization, which bodes incredibly well for SE.</p><p><blockquote>首先，我们来谈谈Sea的主要地理市场；东南亚。海洋经济不仅正在经历快速增长，而且正在经历数字化，这对东南亚来说是一个非常好的兆头。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/626a6dc7b34175282aeba7740413ede1\" tg-width=\"1280\" tg-height=\"521\" width=\"100%\" height=\"auto\"><span>Source: SEA Economy Report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：海洋经济报告</span></p></blockquote></p><p> By 2025, the Internet economy is poised to reach over $300 billion in GMV. Indonesia, Vietnam and Thailand will be amongst the fastest growing Internet economies, and these are all areas where the company has a strong presence. On top of that, Sea is also expanding into Latin America, where it has challenged and surpassed MercadoLibre (MELI) in some&nbsp;countries like Brazil.</p><p><blockquote>到2025年，互联网经济的GMV有望超过3000亿美元。印度尼西亚、越南和泰国将成为增长最快的互联网经济体，这些都是该公司拥有强大影响力的地区。最重要的是，Sea 还在向拉丁美洲扩张，在巴西等一些国家挑战并超越了 MercadoLibre (MELI)。</blockquote></p><p> Shopee and SeaMoney will grow hand in hand. As Shopee grows, more merchants and consumers will be pulled into the SeaMoney ecosystem, which not only allows digital payments but also helps merchants and consumers get financing. Of course, at the moment the company is focusing on expansion, but we know full well that both eCommerce and Digital Finance can be lucrative segments.</p><p><blockquote>Shopee和SeaMoney将携手成长。随着Shopee的发展，更多的商家和消费者将被拉入SeaMoney生态系统，该生态系统不仅允许数字支付，还可以帮助商家和消费者获得融资。当然，目前该公司正专注于扩张，但我们非常清楚电子商务和数字金融都可能是利润丰厚的领域。</blockquote></p><p> Garena, which is responsible for creating Free Fire, is on another path. User growth is slowing down, this is true, but there is still plenty of room for monetization. The company has made moves in the right direction here by releasing Free Fire MAX, a premium version of the game. In a recent article on Seeking Alpha,JR Research pointed out&nbsp;that Garena continues to increase the proportion of paying users to active users, which are also growing, albeit at a slower rate.</p><p><blockquote>负责创造Free Fire的Garena正在走另一条道路。用户增长放缓，这是事实，但变现空间依然很大。该公司在这方面朝着正确的方向迈出了一步，发布了该游戏的高级版本Free Fire MAX。JR Research 在最近一篇关于 Seeking Alpha 的文章中指出，Garena 继续提高付费用户与活跃用户的比例，这些用户也在增长，尽管速度较慢。</blockquote></p><p> <b>Comparative Valuation</b></p><p><blockquote><b>比较估值</b></blockquote></p><p> With all that said, I do feel like sometimes Sea Limited gets judged unfairly, precisely because it has such a successful and profitable segment thanks to Free Fire. Investors often look at Sea's earnings and complain that they aren't growing fast enough, but this is not the company's objective. If Shopee or SeaMoney traded separately as \"exciting and fast-growing start-ups\" investors would be much less harsh with the valuation.</p><p><blockquote>综上所述，我确实觉得有时 Sea Limited 会受到不公平的评判，正是因为 Free Fire 拥有如此成功且盈利的细分市场。投资者经常查看 Sea 的盈利并抱怨其增长速度不够快，但这不是该公司的目标。如果 Shopee 或 SeaMoney 作为“令人兴奋且快速增长的初创企业”单独交易，投资者对估值的要求就不会那么苛刻了。</blockquote></p><p> Sea Limited is a growth company in a growth economy, and it should be judged on its growth and revenue, not on its earnings:</p><p><blockquote>Sea Limited 是一家成长型经济体中的成长型公司，应该根据其增长和收入来判断，而不是根据其盈利来判断：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dabf7759dd81e88d0603fc2f17137235\" tg-width=\"905\" tg-height=\"313\" width=\"100%\" height=\"auto\"><span>Data Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：Seeking Alpha</span></p></blockquote></p><p></p><p> Above we can see valuation ratios for Sea and what I consider to be some similar companies, though I am sure this will be a contentious point. Meli competes head-on with Sea in the eCommerce and fulfilment space. Roblox (RBLX) is an up and coming game/platform, and it is comparable to Free Fire. Shopify Inc.(NYSE:SHOP)has some unique characteristics, but it is also similar in many ways to Sea. It offers an eCommerce platform and helps merchants sell their products, and Shopify Pay is comparable to SeaMoney. Also, all of these companies are high growth companies through Sea is the best in this regard.</p><p><blockquote>上面我们可以看到 Sea 的估值比率以及我认为的一些类似公司，尽管我确信这将是一个有争议的点。Meli在电子商务和履行领域与Sea正面竞争。Roblox（RBLX）是一款冉冉升起的游戏/平台，堪比Free Fire。Shopify Inc.（纽约证券交易所股票代码：SHOP）具有一些独特的特征，但它在许多方面也与 Sea 相似。它提供了一个电子商务平台，帮助商家销售他们的产品，Shopify Pay与SeaMoney相当。此外，所有这些公司都是高成长性公司，Sea在这方面是最好的。</blockquote></p><p> In terms of P/S and EV/Sales though, Sea is cheaper than the rest of these companies, except for Meli. Also, I like the fact that Sea has a Price/Book in line with that of Shopify. Arguably these other companies could be said to be overvalued, but the idea here is to compare these companies amongst each other.</p><p><blockquote>不过，就市盈率和电动汽车销售额而言，Sea 比其他公司都便宜，除了 Meli。此外，我喜欢Sea的价格/账单与Shopify一致。可以说，这些其他公司可以说被高估了，但这里的想法是将这些公司相互比较。</blockquote></p><p> Ultimately, Sea is growing incredibly fast, and though it isn't \"profitable\", we know that it's building a business model that will be. A P/S of 14 seems attractive given all of this and the ratio is below the more recent average of around 20.</p><p><blockquote>最终，Sea 的增长速度令人难以置信，尽管它并不“盈利”，但我们知道它正在建立一种将会盈利的商业模式。考虑到所有这些，14 的市盈率似乎很有吸引力，而且该比率低于最近 20 左右的平均水平。</blockquote></p><p> <b>Other Considerations</b></p><p><blockquote><b>其他考虑因素</b></blockquote></p><p> Some investors might think that, with the Federal Reserve tightening monetary policy, this is not a good time. The first issue here would be; how long can the Fed tighten? We've seen this play out before in 2018, and we know how it ends. More importantly though, while the Fed tightens, the PBOC is loosening monetary policy, as we saw the&nbsp;key benchmark lending rate cut last week.</p><p><blockquote>一些投资者可能认为，随着美联储收紧货币政策，现在不是一个好时机。这里的第一个问题是：美联储能收紧多久？我们在2018年之前就看过这场比赛，我们知道它会如何结束。但更重要的是，在美联储收紧的同时，中国人民银行正在放松货币政策，正如我们上周看到的关键基准贷款利率下调。</blockquote></p><p> What does this mean for Sea? The effects are unclear. Easy credit in the area will help the company and its customers, but what about exchange rates? Some of these countries try to keep pegs to major currencies, so this might not change. This would suggest that South Eastern economies might have to follow the Fed in tightening monetary policy to defend this exchange rate.</p><p><blockquote>这对大海意味着什么？效果尚不清楚。该地区的宽松信贷将有助于公司及其客户，但汇率呢？其中一些国家试图保持与主要货币的挂钩，因此这种情况可能不会改变。这表明东南部经济体可能不得不跟随美联储收紧货币政策，以捍卫这一汇率。</blockquote></p><p> And lastly, what if COVID returns in full force? Again, the effects would be unclear. In many ways, Sea's business could be improved by this, even if the economy suffers overall.</p><p><blockquote>最后，如果COVID全面回归怎么办？同样，影响也不清楚。在许多方面，即使整体经济受到影响，Sea 的业务也可以因此得到改善。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Nothing much has changed for Sea Limited in recent months, except for its share price, and I'd be remiss if I didn't point out this buying opportunity. The company is expanding in all areas, and even increasing its profitability, though that is less important. I'm excited to see what 2022 holds for this stock.</p><p><blockquote>近几个月来，Sea Limited 除了股价之外没有太大变化，如果我不指出这个买入机会，那就是我的失职。该公司正在所有领域扩张，甚至提高盈利能力，尽管这并不那么重要。我很高兴看到这只股票 2022 年的走势。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Sea Limited: An Early Christmas Gift<blockquote>Sea Limited：一份提前的圣诞礼物</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSea Limited: An Early Christmas Gift<blockquote>Sea Limited：一份提前的圣诞礼物</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Seeking Alpha</strong><span class=\"h-time small\">2021-12-24 14:08</span>\n</p>\n</h4>\n</header>\n<article>\n<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Sea Limited is a growing company in a growing economy.</li>  <li>At this stage, the company should be judged on its growth, not earnings.</li>  <li>The recent fall in price makes the stock look attractive when compared to similar growth stories.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f48c8d49ed462ac489fe8f5fa91f5691\" tg-width=\"1536\" tg-height=\"1031\" width=\"100%\" height=\"auto\"><span>FreshSplash/E+ via Getty Images</span></p><p><blockquote><ul><li>Sea Limited是一家在不断增长的经济中成长的公司。</li><li>现阶段，应该根据公司的增长而不是盈利来判断公司。</li><li>与类似的增长故事相比，最近的价格下跌使该股看起来很有吸引力。</li></ul><p class=\"t-img-caption\"><span>FreshSplash/E+ 来自盖蒂图片社</span></p></blockquote></p><p> <b>Thesis Summary</b></p><p><blockquote><b>论文总结</b></blockquote></p><p> Sea Limited (SE) is one of those companies that divide the room. The stock was one of the best performing of 2020/2021 but has now fallen over 30% from its all-time high following a general sell-off which has been most felt in growth stocks.</p><p><blockquote>Sea Limited (SE) 是划分房间的公司之一。该股是 2020/2021 年表现最好的股票之一，但在普遍抛售之后，该股已从历史高点下跌了 30% 以上，这种情况在成长型股票中最为明显。</blockquote></p><p> However, Sea's fundamental growth story remains strong, and the fact that it is running at a loss should not bother investors at this point. If we look at each segment individually, there's a lot to like, and an argument could be made for a much higher price than today. On a final note, Sea should also be aided by the recent policy change coming from China's Central bank, the PBOC, and overall macroeconomic trends.</p><p><blockquote>然而，Sea 的基本面增长故事仍然强劲，目前其亏损的事实不应困扰投资者。如果我们单独看每个细分市场，就会发现有很多值得喜欢的地方，而且可以争论比现在高得多的价格。最后一点，中国央行、中国人民银行和整体宏观经济趋势最近的政策变化也应该有助于Sea。</blockquote></p><p> <b>A Quick Recap</b></p><p><blockquote><b>快速回顾</b></blockquote></p><p> Sea Limited has three main segments; Digital Entertainment (Garena), Financial Services (SeaMoney) and E-commerce (Shopee). This is how they performed in the last quarter.</p><p><blockquote>Sea Limited 有三个主要部门；数字娱乐（Garena）、金融服务（SeaMoney）和电子商务（Shopee）。这就是他们上个季度的表现。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cd726650027bd5d269b8fe1f0dd0b14\" tg-width=\"1280\" tg-height=\"664\" width=\"100%\" height=\"auto\"><span>Source: Investor Presentation</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：投资者介绍</span></p></blockquote></p><p> As we can see, Digital Entertainment is the only segment bringing in operating income. Meanwhile, eCommerce and Digital Finance are running at a loss. However, the growth rates at this point justify the investment. GMV for Shopee was up 81% YoY, and TPV processed through SeaMoney is up 111% YoY.</p><p><blockquote>正如我们所看到的，数字娱乐是唯一带来经营利润的细分市场。与此同时，电子商务和数字金融正在亏损。然而，目前的增长率证明了投资的合理性。Shopee 的 GMV 同比增长 81%，通过 SeaMoney 处理的 TPV 同比增长 111%。</blockquote></p><p> Despite strong growth across the board, Sea Limited has come down significantly in the last few weeks, providing us with a perfect opportunity to buy a stock with an incredibly appealing fundamental growth story.</p><p><blockquote>尽管全面增长强劲，但 Sea Limited 在过去几周大幅下跌，为我们提供了一个绝佳的机会来购买一只具有令人难以置信的吸引力的基本面增长故事的股票。</blockquote></p><p> <b>Growth And Profitability Prospects</b></p><p><blockquote><b>增长及盈利前景</b></blockquote></p><p> Firstly, let's talk about Sea's main geographical market; Southeast Asia. SEA economies are experiencing not just a fast level of growth, but also digitalization, which bodes incredibly well for SE.</p><p><blockquote>首先，我们来谈谈Sea的主要地理市场；东南亚。海洋经济不仅正在经历快速增长，而且正在经历数字化，这对东南亚来说是一个非常好的兆头。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/626a6dc7b34175282aeba7740413ede1\" tg-width=\"1280\" tg-height=\"521\" width=\"100%\" height=\"auto\"><span>Source: SEA Economy Report</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：海洋经济报告</span></p></blockquote></p><p> By 2025, the Internet economy is poised to reach over $300 billion in GMV. Indonesia, Vietnam and Thailand will be amongst the fastest growing Internet economies, and these are all areas where the company has a strong presence. On top of that, Sea is also expanding into Latin America, where it has challenged and surpassed MercadoLibre (MELI) in some&nbsp;countries like Brazil.</p><p><blockquote>到2025年，互联网经济的GMV有望超过3000亿美元。印度尼西亚、越南和泰国将成为增长最快的互联网经济体，这些都是该公司拥有强大影响力的地区。最重要的是，Sea 还在向拉丁美洲扩张，在巴西等一些国家挑战并超越了 MercadoLibre (MELI)。</blockquote></p><p> Shopee and SeaMoney will grow hand in hand. As Shopee grows, more merchants and consumers will be pulled into the SeaMoney ecosystem, which not only allows digital payments but also helps merchants and consumers get financing. Of course, at the moment the company is focusing on expansion, but we know full well that both eCommerce and Digital Finance can be lucrative segments.</p><p><blockquote>Shopee和SeaMoney将携手成长。随着Shopee的发展，更多的商家和消费者将被拉入SeaMoney生态系统，该生态系统不仅允许数字支付，还可以帮助商家和消费者获得融资。当然，目前该公司正专注于扩张，但我们非常清楚电子商务和数字金融都可能是利润丰厚的领域。</blockquote></p><p> Garena, which is responsible for creating Free Fire, is on another path. User growth is slowing down, this is true, but there is still plenty of room for monetization. The company has made moves in the right direction here by releasing Free Fire MAX, a premium version of the game. In a recent article on Seeking Alpha,JR Research pointed out&nbsp;that Garena continues to increase the proportion of paying users to active users, which are also growing, albeit at a slower rate.</p><p><blockquote>负责创造Free Fire的Garena正在走另一条道路。用户增长放缓，这是事实，但变现空间依然很大。该公司在这方面朝着正确的方向迈出了一步，发布了该游戏的高级版本Free Fire MAX。JR Research 在最近一篇关于 Seeking Alpha 的文章中指出，Garena 继续提高付费用户与活跃用户的比例，这些用户也在增长，尽管速度较慢。</blockquote></p><p> <b>Comparative Valuation</b></p><p><blockquote><b>比较估值</b></blockquote></p><p> With all that said, I do feel like sometimes Sea Limited gets judged unfairly, precisely because it has such a successful and profitable segment thanks to Free Fire. Investors often look at Sea's earnings and complain that they aren't growing fast enough, but this is not the company's objective. If Shopee or SeaMoney traded separately as \"exciting and fast-growing start-ups\" investors would be much less harsh with the valuation.</p><p><blockquote>综上所述，我确实觉得有时 Sea Limited 会受到不公平的评判，正是因为 Free Fire 拥有如此成功且盈利的细分市场。投资者经常查看 Sea 的盈利并抱怨其增长速度不够快，但这不是该公司的目标。如果 Shopee 或 SeaMoney 作为“令人兴奋且快速增长的初创企业”单独交易，投资者对估值的要求就不会那么苛刻了。</blockquote></p><p> Sea Limited is a growth company in a growth economy, and it should be judged on its growth and revenue, not on its earnings:</p><p><blockquote>Sea Limited 是一家成长型经济体中的成长型公司，应该根据其增长和收入来判断，而不是根据其盈利来判断：</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/dabf7759dd81e88d0603fc2f17137235\" tg-width=\"905\" tg-height=\"313\" width=\"100%\" height=\"auto\"><span>Data Source: Seeking Alpha</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来源：Seeking Alpha</span></p></blockquote></p><p></p><p> Above we can see valuation ratios for Sea and what I consider to be some similar companies, though I am sure this will be a contentious point. Meli competes head-on with Sea in the eCommerce and fulfilment space. Roblox (RBLX) is an up and coming game/platform, and it is comparable to Free Fire. Shopify Inc.(NYSE:SHOP)has some unique characteristics, but it is also similar in many ways to Sea. It offers an eCommerce platform and helps merchants sell their products, and Shopify Pay is comparable to SeaMoney. Also, all of these companies are high growth companies through Sea is the best in this regard.</p><p><blockquote>上面我们可以看到 Sea 的估值比率以及我认为的一些类似公司，尽管我确信这将是一个有争议的点。Meli在电子商务和履行领域与Sea正面竞争。Roblox（RBLX）是一款冉冉升起的游戏/平台，堪比Free Fire。Shopify Inc.（纽约证券交易所股票代码：SHOP）具有一些独特的特征，但它在许多方面也与 Sea 相似。它提供了一个电子商务平台，帮助商家销售他们的产品，Shopify Pay与SeaMoney相当。此外，所有这些公司都是高成长性公司，Sea在这方面是最好的。</blockquote></p><p> In terms of P/S and EV/Sales though, Sea is cheaper than the rest of these companies, except for Meli. Also, I like the fact that Sea has a Price/Book in line with that of Shopify. Arguably these other companies could be said to be overvalued, but the idea here is to compare these companies amongst each other.</p><p><blockquote>不过，就市盈率和电动汽车销售额而言，Sea 比其他公司都便宜，除了 Meli。此外，我喜欢Sea的价格/账单与Shopify一致。可以说，这些其他公司可以说被高估了，但这里的想法是将这些公司相互比较。</blockquote></p><p> Ultimately, Sea is growing incredibly fast, and though it isn't \"profitable\", we know that it's building a business model that will be. A P/S of 14 seems attractive given all of this and the ratio is below the more recent average of around 20.</p><p><blockquote>最终，Sea 的增长速度令人难以置信，尽管它并不“盈利”，但我们知道它正在建立一种将会盈利的商业模式。考虑到所有这些，14 的市盈率似乎很有吸引力，而且该比率低于最近 20 左右的平均水平。</blockquote></p><p> <b>Other Considerations</b></p><p><blockquote><b>其他考虑因素</b></blockquote></p><p> Some investors might think that, with the Federal Reserve tightening monetary policy, this is not a good time. The first issue here would be; how long can the Fed tighten? We've seen this play out before in 2018, and we know how it ends. More importantly though, while the Fed tightens, the PBOC is loosening monetary policy, as we saw the&nbsp;key benchmark lending rate cut last week.</p><p><blockquote>一些投资者可能认为，随着美联储收紧货币政策，现在不是一个好时机。这里的第一个问题是：美联储能收紧多久？我们在2018年之前就看过这场比赛，我们知道它会如何结束。但更重要的是，在美联储收紧的同时，中国人民银行正在放松货币政策，正如我们上周看到的关键基准贷款利率下调。</blockquote></p><p> What does this mean for Sea? The effects are unclear. Easy credit in the area will help the company and its customers, but what about exchange rates? Some of these countries try to keep pegs to major currencies, so this might not change. This would suggest that South Eastern economies might have to follow the Fed in tightening monetary policy to defend this exchange rate.</p><p><blockquote>这对大海意味着什么？效果尚不清楚。该地区的宽松信贷将有助于公司及其客户，但汇率呢？其中一些国家试图保持与主要货币的挂钩，因此这种情况可能不会改变。这表明东南部经济体可能不得不跟随美联储收紧货币政策，以捍卫这一汇率。</blockquote></p><p> And lastly, what if COVID returns in full force? Again, the effects would be unclear. In many ways, Sea's business could be improved by this, even if the economy suffers overall.</p><p><blockquote>最后，如果COVID全面回归怎么办？同样，影响也不清楚。在许多方面，即使整体经济受到影响，Sea 的业务也可以因此得到改善。</blockquote></p><p> <b>Takeaway</b></p><p><blockquote><b>外卖</b></blockquote></p><p> Nothing much has changed for Sea Limited in recent months, except for its share price, and I'd be remiss if I didn't point out this buying opportunity. The company is expanding in all areas, and even increasing its profitability, though that is less important. I'm excited to see what 2022 holds for this stock.</p><p><blockquote>近几个月来，Sea Limited 除了股价之外没有太大变化，如果我不指出这个买入机会，那就是我的失职。该公司正在所有领域扩张，甚至提高盈利能力，尽管这并不那么重要。我很高兴看到这只股票 2022 年的走势。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4476595-sea-limited-an-early-christmas-gift\">Seeking Alpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SE":"Sea Ltd"},"source_url":"https://seekingalpha.com/article/4476595-sea-limited-an-early-christmas-gift","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1107827800","content_text":"Summary\n\nSea Limited is a growing company in a growing economy.\nAt this stage, the company should be judged on its growth, not earnings.\nThe recent fall in price makes the stock look attractive when compared to similar growth stories.\n\nFreshSplash/E+ via Getty Images\nThesis Summary\nSea Limited (SE) is one of those companies that divide the room. The stock was one of the best performing of 2020/2021 but has now fallen over 30% from its all-time high following a general sell-off which has been most felt in growth stocks.\nHowever, Sea's fundamental growth story remains strong, and the fact that it is running at a loss should not bother investors at this point. If we look at each segment individually, there's a lot to like, and an argument could be made for a much higher price than today. On a final note, Sea should also be aided by the recent policy change coming from China's Central bank, the PBOC, and overall macroeconomic trends.\nA Quick Recap\nSea Limited has three main segments; Digital Entertainment (Garena), Financial Services (SeaMoney) and E-commerce (Shopee). This is how they performed in the last quarter.\nSource: Investor Presentation\nAs we can see, Digital Entertainment is the only segment bringing in operating income. Meanwhile, eCommerce and Digital Finance are running at a loss. However, the growth rates at this point justify the investment. GMV for Shopee was up 81% YoY, and TPV processed through SeaMoney is up 111% YoY.\nDespite strong growth across the board, Sea Limited has come down significantly in the last few weeks, providing us with a perfect opportunity to buy a stock with an incredibly appealing fundamental growth story.\nGrowth And Profitability Prospects\nFirstly, let's talk about Sea's main geographical market; Southeast Asia. SEA economies are experiencing not just a fast level of growth, but also digitalization, which bodes incredibly well for SE.\nSource: SEA Economy Report\nBy 2025, the Internet economy is poised to reach over $300 billion in GMV. Indonesia, Vietnam and Thailand will be amongst the fastest growing Internet economies, and these are all areas where the company has a strong presence. On top of that, Sea is also expanding into Latin America, where it has challenged and surpassed MercadoLibre (MELI) in some countries like Brazil.\nShopee and SeaMoney will grow hand in hand. As Shopee grows, more merchants and consumers will be pulled into the SeaMoney ecosystem, which not only allows digital payments but also helps merchants and consumers get financing. Of course, at the moment the company is focusing on expansion, but we know full well that both eCommerce and Digital Finance can be lucrative segments.\nGarena, which is responsible for creating Free Fire, is on another path. User growth is slowing down, this is true, but there is still plenty of room for monetization. The company has made moves in the right direction here by releasing Free Fire MAX, a premium version of the game. In a recent article on Seeking Alpha,JR Research pointed out that Garena continues to increase the proportion of paying users to active users, which are also growing, albeit at a slower rate.\nComparative Valuation\nWith all that said, I do feel like sometimes Sea Limited gets judged unfairly, precisely because it has such a successful and profitable segment thanks to Free Fire. Investors often look at Sea's earnings and complain that they aren't growing fast enough, but this is not the company's objective. If Shopee or SeaMoney traded separately as \"exciting and fast-growing start-ups\" investors would be much less harsh with the valuation.\nSea Limited is a growth company in a growth economy, and it should be judged on its growth and revenue, not on its earnings:\nData Source: Seeking Alpha\nAbove we can see valuation ratios for Sea and what I consider to be some similar companies, though I am sure this will be a contentious point. Meli competes head-on with Sea in the eCommerce and fulfilment space. Roblox (RBLX) is an up and coming game/platform, and it is comparable to Free Fire. Shopify Inc.(NYSE:SHOP)has some unique characteristics, but it is also similar in many ways to Sea. It offers an eCommerce platform and helps merchants sell their products, and Shopify Pay is comparable to SeaMoney. Also, all of these companies are high growth companies through Sea is the best in this regard.\nIn terms of P/S and EV/Sales though, Sea is cheaper than the rest of these companies, except for Meli. Also, I like the fact that Sea has a Price/Book in line with that of Shopify. Arguably these other companies could be said to be overvalued, but the idea here is to compare these companies amongst each other.\nUltimately, Sea is growing incredibly fast, and though it isn't \"profitable\", we know that it's building a business model that will be. A P/S of 14 seems attractive given all of this and the ratio is below the more recent average of around 20.\nOther Considerations\nSome investors might think that, with the Federal Reserve tightening monetary policy, this is not a good time. The first issue here would be; how long can the Fed tighten? We've seen this play out before in 2018, and we know how it ends. More importantly though, while the Fed tightens, the PBOC is loosening monetary policy, as we saw the key benchmark lending rate cut last week.\nWhat does this mean for Sea? The effects are unclear. Easy credit in the area will help the company and its customers, but what about exchange rates? Some of these countries try to keep pegs to major currencies, so this might not change. This would suggest that South Eastern economies might have to follow the Fed in tightening monetary policy to defend this exchange rate.\nAnd lastly, what if COVID returns in full force? Again, the effects would be unclear. In many ways, Sea's business could be improved by this, even if the economy suffers overall.\nTakeaway\nNothing much has changed for Sea Limited in recent months, except for its share price, and I'd be remiss if I didn't point out this buying opportunity. The company is expanding in all areas, and even increasing its profitability, though that is less important. I'm excited to see what 2022 holds for this stock.","news_type":1,"symbols_score_info":{"SE":0.9}},"isVote":1,"tweetType":1,"viewCount":4278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":605164600,"gmtCreate":1639131436816,"gmtModify":1639131466701,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096119408780510","authorIdStr":"4096119408780510"},"themes":[],"title":"","htmlText":"OMG 😱&nbsp;","listText":"OMG 😱&nbsp;","text":"OMG 😱","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/605164600","repostId":"1116553400","repostType":4,"isVote":1,"tweetType":1,"viewCount":4015,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":843269729,"gmtCreate":1635833079926,"gmtModify":1635833079926,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096119408780510","authorIdStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/CLNE\">$Clean Energy Fuels(CLNE)$</a>Go go go","listText":"<a href=\"https://laohu8.com/S/CLNE\">$Clean Energy Fuels(CLNE)$</a>Go go go","text":"$Clean Energy Fuels(CLNE)$Go go go","images":[{"img":"https://static.tigerbbs.com/1515ef2b07b3200899e674aa68cca634","width":"750","height":"2552"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/843269729","isVote":1,"tweetType":1,"viewCount":1365,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},{"id":690157241,"gmtCreate":1639649124303,"gmtModify":1639649124303,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096119408780510","authorIdStr":"4096119408780510"},"themes":[],"title":"","htmlText":"Very good&nbsp;","listText":"Very good&nbsp;","text":"Very good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/690157241","repostId":"1190976291","repostType":4,"repost":{"id":"1190976291","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1639645564,"share":"https://www.laohunote.com/m/news/1190976291?lang=zh_CN&edition=full","pubTime":"2021-12-16 17:06","market":"us","language":"en","title":"EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%<blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、Tesla、Lucid、Xpeng 上涨超过 2%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1190976291","media":"Tiger Newspress","summary":"EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumpi","content":"<p>EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%.<img src=\"https://static.tigerbbs.com/4dff46b3a87591d45993089709370d13\" tg-width=\"283\" tg-height=\"473\" width=\"100%\" height=\"auto\">Rivian&nbsp;will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press.</p><p><blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、特斯拉、Lucid、小鹏汽车上涨超过 2%。了解这一决定的消息人士告诉美联社，Rivian将于周四宣布将在亚特兰大东部建造一座耗资 50 亿美元的电池和装配厂，预计将雇用 7500 名工人。</blockquote></p><p> Canoo plans&nbsp;to accelerate and now shift production of its breakthrough EVs from Europe to U.S., commence manufacturing at its advanced industrialization facility planned for&nbsp;Northwest Arkansas&nbsp;and remains on target to bring online its Mega Micro factory in&nbsp;Pryor, Oklahoma&nbsp;in late 2023.</p><p><blockquote>Canoo 计划加快其突破性电动汽车的生产，现在将其突破性电动汽车的生产从欧洲转移到美国，开始在计划在阿肯色州西北部建设的先进工业化工厂进行制造，并继续实现其位于俄克拉荷马州普赖尔的大型微型工厂于 2023 年底上线的目标。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%<blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、Tesla、Lucid、Xpeng 上涨超过 2%</blockquote></title>\n<style 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#7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%<blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、Tesla、Lucid、Xpeng 上涨超过 2%</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-12-16 17:06</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%.<img src=\"https://static.tigerbbs.com/4dff46b3a87591d45993089709370d13\" tg-width=\"283\" tg-height=\"473\" width=\"100%\" height=\"auto\">Rivian&nbsp;will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press.</p><p><blockquote>电动汽车股在盘前交易中飙升，Canoe 上涨超过 5%，Rivian、特斯拉、Lucid、小鹏汽车上涨超过 2%。了解这一决定的消息人士告诉美联社，Rivian将于周四宣布将在亚特兰大东部建造一座耗资 50 亿美元的电池和装配厂，预计将雇用 7500 名工人。</blockquote></p><p> Canoo plans&nbsp;to accelerate and now shift production of its breakthrough EVs from Europe to U.S., commence manufacturing at its advanced industrialization facility planned for&nbsp;Northwest Arkansas&nbsp;and remains on target to bring online its Mega Micro factory in&nbsp;Pryor, Oklahoma&nbsp;in late 2023.</p><p><blockquote>Canoo 计划加快其突破性电动汽车的生产，现在将其突破性电动汽车的生产从欧洲转移到美国，开始在计划在阿肯色州西北部建设的先进工业化工厂进行制造，并继续实现其位于俄克拉荷马州普赖尔的大型微型工厂于 2023 年底上线的目标。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","RIVN":"Rivian Automotive, Inc.","XPEV":"小鹏集团","LCID":"Lucid Group Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190976291","content_text":"EV stocks soared in premarket trading, with Canoe jumping over 5%,and Rivian,Tesla,Lucid,Xpeng jumping over 2%.Rivian will announce Thursday that it’s building a $5 billion battery and assembly plant east of Atlanta that’s projected to employ 7,500 workers, sources briefed on the decision told The Associated Press.\nCanoo plans to accelerate and now shift production of its breakthrough EVs from Europe to U.S., commence manufacturing at its advanced industrialization facility planned for Northwest Arkansas and remains on target to bring online its Mega Micro factory in Pryor, Oklahoma in late 2023.","news_type":1,"symbols_score_info":{"XPEV":0.9,"RIVN":0.9,"GOEV":0.9,"TSLA":0.9,"LCID":0.9}},"isVote":1,"tweetType":1,"viewCount":3153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":606319033,"gmtCreate":1638833841143,"gmtModify":1638833841143,"author":{"id":"4096119408780510","authorId":"4096119408780510","name":"Jehms","avatar":"https://static.tigerbbs.com/84c64b2b7d36baf53d2d5bd1dce11972","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4096119408780510","authorIdStr":"4096119408780510"},"themes":[],"title":"","htmlText":"<a href=\"https://laohu8.com/S/DVN\">$Devon(DVN)$</a>Good dividends at $0.85","listText":"<a href=\"https://laohu8.com/S/DVN\">$Devon(DVN)$</a>Good dividends at $0.85","text":"$Devon(DVN)$Good dividends at 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