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Hoxyn

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- HoxynHoxyn
  ·2021-07-06
  Comment and like
  非常抱歉，此主贴已删除
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- HoxynHoxyn
  ·2021-06-23
  Nice
  非常抱歉，此主贴已删除
  1,556 评论
  2
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- HoxynHoxyn
  ·2021-06-23
  Like and comment
  非常抱歉，此主贴已删除
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- HoxynHoxyn
  ·2021-06-21
  Like and comment
  Stock market's most popular trade faces 'perfect storm'<blockquote>股市最受欢迎的交易面临“完美风暴”</blockquote>
  Wall Street’s favorite trade of the year is facing a "perfect storm" as theFederal Reserveprepares t
  Stock market's most popular trade faces 'perfect storm'<blockquote>股市最受欢迎的交易面临“完美风暴”</blockquote>
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- HoxynHoxyn
  ·2021-06-21
  Wow
  非常抱歉，此主贴已删除
  1,693 评论
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- HoxynHoxyn
  ·2021-06-20
  Nice
  非常抱歉，此主贴已删除
  2,775 2
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- HoxynHoxyn
  ·2021-06-20
  Let’s go!!
  非常抱歉，此主贴已删除
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- HoxynHoxyn
  ·2021-06-18
  Nice
  Why did Cloudflare and CrowdStrike stocks soar on Thursday?<blockquote>为什么Cloudflare和CrowdStrike的股票周四飙升？</blockquote>
  Downtime incident stimulated the cybersecurity sector to rise on Thursday.Cloudflare stock rose more
  Why did Cloudflare and CrowdStrike stocks soar on Thursday?<blockquote>为什么Cloudflare和CrowdStrike的股票周四飙升？</blockquote>
  2,157 评论
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- HoxynHoxyn
  ·2021-06-18
  Comment and like
  The Trade Desk Stock Split: Time to Buy?<blockquote>The Trade Desk股票分割：是时候买入了吗？</blockquote>
  The stock is still down about 36% from recent highs.
  The Trade Desk Stock Split: Time to Buy?<blockquote>The Trade Desk股票分割：是时候买入了吗？</blockquote>
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- HoxynHoxyn
  ·2021-06-16
  To the moon?
  Wish Stock: Patient Investors Could Soon See $20 Again<blockquote>Wish股票：耐心的投资者很快就会再次看到20美元</blockquote>
  Summary Wish (ContextLogic) remains one of the most underappreciated assets within e-commerce tradi
  Wish Stock: Patient Investors Could Soon See $20 Again<blockquote>Wish股票：耐心的投资者很快就会再次看到20美元</blockquote>
  1,355 评论
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America.</p><p><blockquote>美国银行表示，随着美联储准备退出大流行期间采取的紧急措施，华尔街今年最受欢迎的交易正面临一场“完美风暴”。</blockquote></p><p> The Fed’s decision to end the easy money era of the pandemic sent shockwaves through the market and put the Dow Jones Industrial Average on track for its worst week since January.</p><p><blockquote>美联储结束疫情宽松货币时代的决定给市场带来了冲击波，并使道琼斯工业平均指数有望迎来自1月份以来最糟糕的一周。</blockquote></p><p> Cyclical stocks on Thursday, the day after the announcement, suffered their worst day in over a year when compared to defensive stocks as investors feared the central bank’s tapering could derail the economy. Cyclicals include sectors like industrials, energy and financials, whose performance is tied to the whims of the economy.</p><p><blockquote>周四，即消息公布后的第二天，与防御性股票相比，周期性股票遭遇了一年多来最糟糕的一天，因为投资者担心央行的缩减可能会破坏经济。周期性行业包括工业、能源和金融等行业，其表现与经济的波动有关。</blockquote></p><p> A \"cyclical correction is now underway,\" wrote a team led by Michael Hartnett, chief investment strategist at Bank of America.</p><p><blockquote>美国银行首席投资策略师迈克尔·哈特内特领导的团队写道，“周期性调整正在进行中”。</blockquote></p><p> He noted this week’s hawkish shift by the Fed is \"bad news\" and adds to the troubles that were presented by excess positioning, China tightening and fading hopes of additional fiscal stimulus in the U.S.</p><p><blockquote>他指出，美联储本周的鹰派转变是“坏消息”，并加剧了头寸过度、中国紧缩以及美国额外财政刺激希望消退所带来的麻烦。</blockquote></p><p> The Fed on Wednesday held its benchmark interest rate near zero and maintained its bond-buying program at a pace of $120 billion per month, but moved up the forecast for its first rate hike to 2023 from 2024. More members, but not a majority, said the first rate hike could occur in 2022. The central bank also teased an end to its asset purchase program, but did not give any specifics as to when the tapering might begin.</p><p><blockquote>美联储周三将基准利率维持在接近零的水平，并维持每月1200亿美元的债券购买计划，但将首次加息的预期从2024年上调至2023年。更多成员（但不是大多数）表示，首次加息可能会在2022年发生。央行还调侃结束资产购买计划，但没有给出何时开始缩减规模的任何细节。</blockquote></p><p> The Fed last year cut interest rates to near zero and pledged to buy an unlimited amount of assets to support the U.S. economy through its sharpest economic slowdown of the post-World War II era.</p><p><blockquote>美联储去年将利率降至接近零的水平，并承诺购买无限量的资产，以支持美国经济度过二战后最严重的经济放缓。</blockquote></p><p> The yield on the 10-year bond note fell to 1.45% on Friday in response to the Fed’s tightening plans. It hit a high of 1.75% on March 31.</p><p><blockquote>作为对美联储紧缩计划的回应，10年期债券收益率周五跌至1.45%。3月31日触及1.75%的高点。</blockquote></p><p> David Rosenberg, chief economist and strategist at Toronto-based Rosenberg Research says that adjusted for interest rates, the S&amp;P 500 is 20% above its intrinsic value.</p><p><blockquote>Rosenberg Research首席经济学家兼策略师David Rosenberg表示，经利率调整后，标普500比其内在价值高出20%。</blockquote></p><p> He believes investors would be foolish to ignore the signal that real rates, or those adjusted for inflation, are sending to the stock market.</p><p><blockquote>他认为，投资者忽视实际利率或经通胀调整后的利率向股市发出的信号是愚蠢的。</blockquote></p><p> \"Overweighting&nbsp;defensive sectors and secular growth segments that tend to benefit&nbsp;by a sharp slowing in GDP growth, is a sound strategy,\" he wrote. \"At the same&nbsp;time, if the message from real rates proves&nbsp;prescient, investors will&nbsp;be well advised to trim their cyclical exposures.\"</p><p><blockquote>他写道：“增持往往受益于GDP增长急剧放缓的防御性行业和长期增长行业是一个合理的策略。”“与此同时，如果实际利率的信息被证明是有先见之明的，那么投资者将被强烈建议削减周期性敞口。”</blockquote></p><p></p>","source":"lsy1610518597439","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 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\">\nStock market's most popular trade faces 'perfect storm'<blockquote>股市最受欢迎的交易面临“完美风暴”</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">FoxBusiness</strong><span class=\"h-time small\">2021-06-21 11:00</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.</p><p><blockquote>美国银行表示，随着美联储准备退出大流行期间采取的紧急措施，华尔街今年最受欢迎的交易正面临一场“完美风暴”。</blockquote></p><p> The Fed’s decision to end the easy money era of the pandemic sent shockwaves through the market and put the Dow Jones Industrial Average on track for its worst week since January.</p><p><blockquote>美联储结束疫情宽松货币时代的决定给市场带来了冲击波，并使道琼斯工业平均指数有望迎来自1月份以来最糟糕的一周。</blockquote></p><p> Cyclical stocks on Thursday, the day after the announcement, suffered their worst day in over a year when compared to defensive stocks as investors feared the central bank’s tapering could derail the economy. Cyclicals include sectors like industrials, energy and financials, whose performance is tied to the whims of the economy.</p><p><blockquote>周四，即消息公布后的第二天，与防御性股票相比，周期性股票遭遇了一年多来最糟糕的一天，因为投资者担心央行的缩减可能会破坏经济。周期性行业包括工业、能源和金融等行业，其表现与经济的波动有关。</blockquote></p><p> A \"cyclical correction is now underway,\" wrote a team led by Michael Hartnett, chief investment strategist at Bank of America.</p><p><blockquote>美国银行首席投资策略师迈克尔·哈特内特领导的团队写道，“周期性调整正在进行中”。</blockquote></p><p> He noted this week’s hawkish shift by the Fed is \"bad news\" and adds to the troubles that were presented by excess positioning, China tightening and fading hopes of additional fiscal stimulus in the U.S.</p><p><blockquote>他指出，美联储本周的鹰派转变是“坏消息”，并加剧了头寸过度、中国紧缩以及美国额外财政刺激希望消退所带来的麻烦。</blockquote></p><p> The Fed on Wednesday held its benchmark interest rate near zero and maintained its bond-buying program at a pace of $120 billion per month, but moved up the forecast for its first rate hike to 2023 from 2024. More members, but not a majority, said the first rate hike could occur in 2022. The central bank also teased an end to its asset purchase program, but did not give any specifics as to when the tapering might begin.</p><p><blockquote>美联储周三将基准利率维持在接近零的水平，并维持每月1200亿美元的债券购买计划，但将首次加息的预期从2024年上调至2023年。更多成员（但不是大多数）表示，首次加息可能会在2022年发生。央行还调侃结束资产购买计划，但没有给出何时开始缩减规模的任何细节。</blockquote></p><p> The Fed last year cut interest rates to near zero and pledged to buy an unlimited amount of assets to support the U.S. economy through its sharpest economic slowdown of the post-World War II era.</p><p><blockquote>美联储去年将利率降至接近零的水平，并承诺购买无限量的资产，以支持美国经济度过二战后最严重的经济放缓。</blockquote></p><p> The yield on the 10-year bond note fell to 1.45% on Friday in response to the Fed’s tightening plans. It hit a high of 1.75% on March 31.</p><p><blockquote>作为对美联储紧缩计划的回应，10年期债券收益率周五跌至1.45%。3月31日触及1.75%的高点。</blockquote></p><p> David Rosenberg, chief economist and strategist at Toronto-based Rosenberg Research says that adjusted for interest rates, the S&amp;P 500 is 20% above its intrinsic value.</p><p><blockquote>Rosenberg Research首席经济学家兼策略师David Rosenberg表示，经利率调整后，标普500比其内在价值高出20%。</blockquote></p><p> He believes investors would be foolish to ignore the signal that real rates, or those adjusted for inflation, are sending to the stock market.</p><p><blockquote>他认为，投资者忽视实际利率或经通胀调整后的利率向股市发出的信号是愚蠢的。</blockquote></p><p> \"Overweighting&nbsp;defensive sectors and secular growth segments that tend to benefit&nbsp;by a sharp slowing in GDP growth, is a sound strategy,\" he wrote. \"At the same&nbsp;time, if the message from real rates proves&nbsp;prescient, investors will&nbsp;be well advised to trim their cyclical exposures.\"</p><p><blockquote>他写道：“增持往往受益于GDP增长急剧放缓的防御性行业和长期增长行业是一个合理的策略。”“与此同时，如果实际利率的信息被证明是有先见之明的，那么投资者将被强烈建议削减周期性敞口。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down\">FoxBusiness</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://www.foxbusiness.com/markets/stock-market-most-popular-trade-being-turned-upside-down","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134946846","content_text":"Wall Street’s favorite trade of the year is facing a \"perfect storm\" as theFederal Reserveprepares to exit the emergency measures put in place during the pandemic, according to Bank of America.\nThe Fed’s decision to end the easy money era of the pandemic sent shockwaves through the market and put the Dow Jones Industrial Average on track for its worst week since January.\nCyclical stocks on Thursday, the day after the announcement, suffered their worst day in over a year when compared to defensive stocks as investors feared the central bank’s tapering could derail the economy. Cyclicals include sectors like industrials, energy and financials, whose performance is tied to the whims of the economy.\nA \"cyclical correction is now underway,\" wrote a team led by Michael Hartnett, chief investment strategist at Bank of America.\nHe noted this week’s hawkish shift by the Fed is \"bad news\" and adds to the troubles that were presented by excess positioning, China tightening and fading hopes of additional fiscal stimulus in the U.S.\nThe Fed on Wednesday held its benchmark interest rate near zero and maintained its bond-buying program at a pace of $120 billion per month, but moved up the forecast for its first rate hike to 2023 from 2024. More members, but not a majority, said the first rate hike could occur in 2022. The central bank also teased an end to its asset purchase program, but did not give any specifics as to when the tapering might begin.\nThe Fed last year cut interest rates to near zero and pledged to buy an unlimited amount of assets to support the U.S. economy through its sharpest economic slowdown of the post-World War II era.\nThe yield on the 10-year bond note fell to 1.45% on Friday in response to the Fed’s tightening plans. It hit a high of 1.75% on March 31.\nDavid Rosenberg, chief economist and strategist at Toronto-based Rosenberg Research says that adjusted for interest rates, the S&P 500 is 20% above its intrinsic value.\nHe believes investors would be foolish to ignore the signal that real rates, or those adjusted for inflation, are sending to the stock market.\n\"Overweighting defensive sectors and secular growth segments that tend to benefit by a sharp slowing in GDP growth, is a sound strategy,\" he wrote. \"At the same time, if the message from real rates proves prescient, investors will be well advised to trim their cyclical exposures.\"","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":167305139,"gmtCreate":1624245423821,"gmtModify":1634008954676,"author":{"id":"3573824146229547","authorId":"3573824146229547","name":"Hoxyn","avatar":"https://static.tigerbbs.com/69c90aca320bde7e33f469150d40df06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573824146229547","authorIdStr":"3573824146229547"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/167305139","repostId":"1154249454","repostType":4,"isVote":1,"tweetType":1,"viewCount":1693,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165618131,"gmtCreate":1624124622023,"gmtModify":1634010483461,"author":{"id":"3573824146229547","authorId":"3573824146229547","name":"Hoxyn","avatar":"https://static.tigerbbs.com/69c90aca320bde7e33f469150d40df06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573824146229547","authorIdStr":"3573824146229547"},"themes":[],"htmlText":"&nbsp;Nice&nbsp;","listText":"&nbsp;Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/165618131","repostId":"1113942445","repostType":4,"isVote":1,"tweetType":1,"viewCount":2775,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":165699438,"gmtCreate":1624121809224,"gmtModify":1634010504477,"author":{"id":"3573824146229547","authorId":"3573824146229547","name":"Hoxyn","avatar":"https://static.tigerbbs.com/69c90aca320bde7e33f469150d40df06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573824146229547","authorIdStr":"3573824146229547"},"themes":[],"htmlText":"Let’s go!!","listText":"Let’s go!!","text":"Let’s go!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/165699438","repostId":"1113942445","repostType":4,"isVote":1,"tweetType":1,"viewCount":1694,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166891378,"gmtCreate":1624000120194,"gmtModify":1634024321112,"author":{"id":"3573824146229547","authorId":"3573824146229547","name":"Hoxyn","avatar":"https://static.tigerbbs.com/69c90aca320bde7e33f469150d40df06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573824146229547","authorIdStr":"3573824146229547"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166891378","repostId":"1114024445","repostType":4,"repost":{"id":"1114024445","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":1623995103,"share":"https://www.laohu8.com/m/news/1114024445?lang=zh_CN&edition=full","pubTime":"2021-06-18 13:45","market":"us","language":"en","title":"Why did  Cloudflare and CrowdStrike stocks soar on Thursday?<blockquote>为什么Cloudflare和CrowdStrike的股票周四飙升？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1114024445","media":"Tiger Newspress","summary":"Downtime incident stimulated the cybersecurity sector to rise on Thursday.Cloudflare stock rose more","content":"<p>Downtime incident stimulated the cybersecurity sector to rise on Thursday.Cloudflare stock rose more than 6% to a new high&nbsp;and&nbsp;CrowdStrike stock rose more than 3% close to previous historical highs.</p><p><blockquote>宕机事件刺激网络安全板块周四上涨。Cloudflare股价涨超6%创新高，CrowdStrike股价涨超3%接近此前历史高点。</blockquote></p><p> A plethora of websites operated by financial institutions, governments and airlines including&nbsp;Hong Kong Exchanges &amp; Clearing Ltd.&nbsp;and Australia’s central bank went down briefly Thursday in the second global internetoutagein as many weeks.</p><p><blockquote>周四，包括香港交易及结算所有限公司和澳大利亚央行在内的金融机构、政府和航空公司运营的大量网站短暂关闭，这是几周内的第二次全球互联网宕机。</blockquote></p><p> Some of the outages, including those that affected&nbsp;Commonwealth Bank of Australia,Westpac Banking Corp.&nbsp;and&nbsp;Australia &amp; New Zealand Banking Group Ltd., were linked to a failure at&nbsp;Akamai Technologies Inc., which helps clients manage web services, people familiar with the matter said, asking not to be identified discussing internal affairs. The&nbsp;Reserve Bank of Australia&nbsp;was forced to cancel a scheduled bond-buying operation Thursday, blaming“technical difficulties.” The central bank said it had adopted workarounds and its website was now back up and running.</p><p><blockquote>知情人士表示，一些中断，包括影响澳大利亚联邦银行、西太平洋银行和澳大利亚新西兰银行集团有限公司的中断，与Akamai Technologies Inc.的故障有关，该公司帮助客户管理网络服务。澳大利亚央行周四被迫取消了原定的债券购买操作，原因是“技术困难”。央行表示，已采取变通办法，其网站现已恢复运行。</blockquote></p><p> The widespread downtime recalled an hour-long global&nbsp;outage&nbsp;earlier this month, triggered by a software failure at content delivery platform&nbsp;Fastly Inc. The resultant cascading failures, which affected services from&nbsp;Amazon.com Inc.&nbsp;to&nbsp;Shopify Inc.&nbsp;and&nbsp;Stripe Inc., served as a stark reminder of how exposed the world’s biggest websites are to the impact of disruptions ranging from simple human error to coordinated cyberattack.</p><p><blockquote>这次大范围的停机让人想起本月早些时候由内容交付平台Fastly Inc.的软件故障引发的长达一小时的全球停电。由此产生的级联故障影响了亚马逊的服务。com Inc.到Shopify Inc.和Stripe Inc.，这清楚地提醒人们，世界上最大的网站是多么容易受到从简单的人为错误到协调一致的网络攻击的影响。</blockquote></p><p> Akamai&nbsp;said in a statement it was aware of the issue and “actively working to restore services as soon as possible.” Website tracker Downdetector.com initially&nbsp;flagged&nbsp;hundreds of user complaints about outages affecting&nbsp;Southwest Airlines Co.,Delta Air Lines Inc.&nbsp;and&nbsp;Automatic Data Processing Inc.Other websites pinpointed included those operated by&nbsp;Vanguard,E-Trade&nbsp;and&nbsp;Navy Federal Credit Union.</p><p><blockquote>Akamai在一份声明中表示，它意识到了这个问题，并“积极努力尽快恢复服务”。网站跟踪器Downdetector.com最初标记了数百起用户关于影响西南航空公司、达美航空公司和自动数据处理公司的停电投诉。其他被点名的网站包括Vanguard、E-Trade和海军联邦信用合作社运营的网站。</blockquote></p><p> Many of the websites affected on Thursday recovered within the hour, some after rerouting to other providers. Companies including Hong Kong’s exchange and Southwest said they were investigating the incident, without elaborating. “The pause in connectivity did not impact our operation,” Southwest said in an emailed response to questions.</p><p><blockquote>周四受影响的许多网站在一小时内恢复，有些网站在重定向到其他提供商后。包括香港交易所和西南航空在内的公司表示，他们正在调查这一事件，但没有详细说明。西南航空在回答问题的电子邮件中表示：“连接暂停并没有影响我们的运营。”</blockquote></p><p> It was unclear what triggered the incidents Thursday. In Fastly’s case, a valid software configuration change by one of its customers triggered a previously undiscovered bug, introduced during a May 12 software deployment. Fastly quickly identified an issue with its content delivery network and announced it was rolling out a fix just 46 minutes after acknowledging a problem. Sites began to spring back to life soon afterward.</p><p><blockquote>目前还不清楚是什么引发了周四的事件。在Fastly的案例中，其一位客户的有效软件配置更改引发了一个以前未发现的错误，该错误是在5月12日的软件部署期间引入的。Fastly很快发现了其内容交付网络的问题，并在承认问题仅46分钟后就宣布推出修复程序。不久之后，网站开始恢复生机。</blockquote></p><p> Akamai is one of a number of high-level website and application hosting services that large enterprises use to serve content to millions of users simultaneously.</p><p><blockquote>Akamai是大型企业用来同时向数百万用户提供内容的众多高级网站和应用程序托管服务之一。</blockquote></p><p> Rather than hosting all website content on a single set of servers in one location, Fastly’s so-called “edge computing” model puts servers in dozens of locations, allowing websites to serve pages to users from physical locations closest to them. This cuts lag time, speeding up page-loading and spreading the burden on individual servers.</p><p><blockquote>Fastly所谓的“边缘计算”模式不是将所有网站内容托管在一个位置的一组服务器上，而是将服务器放在几十个位置，允许网站从离用户最近的物理位置向用户提供页面。这减少了延迟时间，加快了页面加载速度，并分散了各个服务器的负担。</blockquote></p><p> These vast and complex setups are run by just a few companies, such as Fastly and&nbsp;Cloudflare Inc.The global edge computing market was valued at $4.68 billion in 2020 and is expected to expand at a compound annual growth rate of 38.4% from 2021 to 2028, according to a recent analysis by Grand View Research.</p><p><blockquote>这些庞大而复杂的设置仅由少数公司运营，例如Fastly和Cloudflare Inc.。根据Grand View Research最近的分析，2020年全球边缘计算市场价值为46.8亿美元，预计从2021年到2028年将以38.4%的复合年增长率扩张。</blockquote></p><p> While these setups usually work perfectly, their complexity means that even a simple error in a configuration file can trigger chain reactions of outages. For users, most of whom rarely need to think about how the internet works, that can come as a shock.</p><p><blockquote>虽然这些设置通常工作得很好，但它们的复杂性意味着即使是配置文件中的一个简单错误也可能引发停机的连锁反应。对于大多数很少需要思考互联网是如何工作的用户来说，这可能会令人震惊。</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>Why did  Cloudflare and CrowdStrike stocks soar on Thursday?<blockquote>为什么Cloudflare和CrowdStrike的股票周四飙升？</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\">\nWhy did  Cloudflare and CrowdStrike stocks soar on Thursday?<blockquote>为什么Cloudflare和CrowdStrike的股票周四飙升？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-06-18 13:45</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Downtime incident stimulated the cybersecurity sector to rise on Thursday.Cloudflare stock rose more than 6% to a new high&nbsp;and&nbsp;CrowdStrike stock rose more than 3% close to previous historical highs.</p><p><blockquote>宕机事件刺激网络安全板块周四上涨。Cloudflare股价涨超6%创新高，CrowdStrike股价涨超3%接近此前历史高点。</blockquote></p><p> A plethora of websites operated by financial institutions, governments and airlines including&nbsp;Hong Kong Exchanges &amp; Clearing Ltd.&nbsp;and Australia’s central bank went down briefly Thursday in the second global internetoutagein as many weeks.</p><p><blockquote>周四，包括香港交易及结算所有限公司和澳大利亚央行在内的金融机构、政府和航空公司运营的大量网站短暂关闭，这是几周内的第二次全球互联网宕机。</blockquote></p><p> Some of the outages, including those that affected&nbsp;Commonwealth Bank of Australia,Westpac Banking Corp.&nbsp;and&nbsp;Australia &amp; New Zealand Banking Group Ltd., were linked to a failure at&nbsp;Akamai Technologies Inc., which helps clients manage web services, people familiar with the matter said, asking not to be identified discussing internal affairs. The&nbsp;Reserve Bank of Australia&nbsp;was forced to cancel a scheduled bond-buying operation Thursday, blaming“technical difficulties.” The central bank said it had adopted workarounds and its website was now back up and running.</p><p><blockquote>知情人士表示，一些中断，包括影响澳大利亚联邦银行、西太平洋银行和澳大利亚新西兰银行集团有限公司的中断，与Akamai Technologies Inc.的故障有关，该公司帮助客户管理网络服务。澳大利亚央行周四被迫取消了原定的债券购买操作，原因是“技术困难”。央行表示，已采取变通办法，其网站现已恢复运行。</blockquote></p><p> The widespread downtime recalled an hour-long global&nbsp;outage&nbsp;earlier this month, triggered by a software failure at content delivery platform&nbsp;Fastly Inc. The resultant cascading failures, which affected services from&nbsp;Amazon.com Inc.&nbsp;to&nbsp;Shopify Inc.&nbsp;and&nbsp;Stripe Inc., served as a stark reminder of how exposed the world’s biggest websites are to the impact of disruptions ranging from simple human error to coordinated cyberattack.</p><p><blockquote>这次大范围的停机让人想起本月早些时候由内容交付平台Fastly Inc.的软件故障引发的长达一小时的全球停电。由此产生的级联故障影响了亚马逊的服务。com Inc.到Shopify Inc.和Stripe Inc.，这清楚地提醒人们，世界上最大的网站是多么容易受到从简单的人为错误到协调一致的网络攻击的影响。</blockquote></p><p> Akamai&nbsp;said in a statement it was aware of the issue and “actively working to restore services as soon as possible.” Website tracker Downdetector.com initially&nbsp;flagged&nbsp;hundreds of user complaints about outages affecting&nbsp;Southwest Airlines Co.,Delta Air Lines Inc.&nbsp;and&nbsp;Automatic Data Processing Inc.Other websites pinpointed included those operated by&nbsp;Vanguard,E-Trade&nbsp;and&nbsp;Navy Federal Credit Union.</p><p><blockquote>Akamai在一份声明中表示，它意识到了这个问题，并“积极努力尽快恢复服务”。网站跟踪器Downdetector.com最初标记了数百起用户关于影响西南航空公司、达美航空公司和自动数据处理公司的停电投诉。其他被点名的网站包括Vanguard、E-Trade和海军联邦信用合作社运营的网站。</blockquote></p><p> Many of the websites affected on Thursday recovered within the hour, some after rerouting to other providers. Companies including Hong Kong’s exchange and Southwest said they were investigating the incident, without elaborating. “The pause in connectivity did not impact our operation,” Southwest said in an emailed response to questions.</p><p><blockquote>周四受影响的许多网站在一小时内恢复，有些网站在重定向到其他提供商后。包括香港交易所和西南航空在内的公司表示，他们正在调查这一事件，但没有详细说明。西南航空在回答问题的电子邮件中表示：“连接暂停并没有影响我们的运营。”</blockquote></p><p> It was unclear what triggered the incidents Thursday. In Fastly’s case, a valid software configuration change by one of its customers triggered a previously undiscovered bug, introduced during a May 12 software deployment. Fastly quickly identified an issue with its content delivery network and announced it was rolling out a fix just 46 minutes after acknowledging a problem. Sites began to spring back to life soon afterward.</p><p><blockquote>目前还不清楚是什么引发了周四的事件。在Fastly的案例中，其一位客户的有效软件配置更改引发了一个以前未发现的错误，该错误是在5月12日的软件部署期间引入的。Fastly很快发现了其内容交付网络的问题，并在承认问题仅46分钟后就宣布推出修复程序。不久之后，网站开始恢复生机。</blockquote></p><p> Akamai is one of a number of high-level website and application hosting services that large enterprises use to serve content to millions of users simultaneously.</p><p><blockquote>Akamai是大型企业用来同时向数百万用户提供内容的众多高级网站和应用程序托管服务之一。</blockquote></p><p> Rather than hosting all website content on a single set of servers in one location, Fastly’s so-called “edge computing” model puts servers in dozens of locations, allowing websites to serve pages to users from physical locations closest to them. This cuts lag time, speeding up page-loading and spreading the burden on individual servers.</p><p><blockquote>Fastly所谓的“边缘计算”模式不是将所有网站内容托管在一个位置的一组服务器上，而是将服务器放在几十个位置，允许网站从离用户最近的物理位置向用户提供页面。这减少了延迟时间，加快了页面加载速度，并分散了各个服务器的负担。</blockquote></p><p> These vast and complex setups are run by just a few companies, such as Fastly and&nbsp;Cloudflare Inc.The global edge computing market was valued at $4.68 billion in 2020 and is expected to expand at a compound annual growth rate of 38.4% from 2021 to 2028, according to a recent analysis by Grand View Research.</p><p><blockquote>这些庞大而复杂的设置仅由少数公司运营，例如Fastly和Cloudflare Inc.。根据Grand View Research最近的分析，2020年全球边缘计算市场价值为46.8亿美元，预计从2021年到2028年将以38.4%的复合年增长率扩张。</blockquote></p><p> While these setups usually work perfectly, their complexity means that even a simple error in a configuration file can trigger chain reactions of outages. For users, most of whom rarely need to think about how the internet works, that can come as a shock.</p><p><blockquote>虽然这些设置通常工作得很好，但它们的复杂性意味着即使是配置文件中的一个简单错误也可能引发停机的连锁反应。对于大多数很少需要思考互联网是如何工作的用户来说，这可能会令人震惊。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRWD":"CrowdStrike Holdings, Inc.","NET":"Cloudflare, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114024445","content_text":"Downtime incident stimulated the cybersecurity sector to rise on Thursday.Cloudflare stock rose more than 6% to a new high and CrowdStrike stock rose more than 3% close to previous historical highs.\nA plethora of websites operated by financial institutions, governments and airlines including Hong Kong Exchanges & Clearing Ltd. and Australia’s central bank went down briefly Thursday in the second global internetoutagein as many weeks.\nSome of the outages, including those that affected Commonwealth Bank of Australia,Westpac Banking Corp. and Australia & New Zealand Banking Group Ltd., were linked to a failure at Akamai Technologies Inc., which helps clients manage web services, people familiar with the matter said, asking not to be identified discussing internal affairs. The Reserve Bank of Australia was forced to cancel a scheduled bond-buying operation Thursday, blaming“technical difficulties.” The central bank said it had adopted workarounds and its website was now back up and running.\nThe widespread downtime recalled an hour-long global outage earlier this month, triggered by a software failure at content delivery platform Fastly Inc. The resultant cascading failures, which affected services from Amazon.com Inc. to Shopify Inc. and Stripe Inc., served as a stark reminder of how exposed the world’s biggest websites are to the impact of disruptions ranging from simple human error to coordinated cyberattack.\nAkamai said in a statement it was aware of the issue and “actively working to restore services as soon as possible.” Website tracker Downdetector.com initially flagged hundreds of user complaints about outages affecting Southwest Airlines Co.,Delta Air Lines Inc. and Automatic Data Processing Inc.Other websites pinpointed included those operated by Vanguard,E-Trade and Navy Federal Credit Union.\nMany of the websites affected on Thursday recovered within the hour, some after rerouting to other providers. Companies including Hong Kong’s exchange and Southwest said they were investigating the incident, without elaborating. “The pause in connectivity did not impact our operation,” Southwest said in an emailed response to questions.\nIt was unclear what triggered the incidents Thursday. In Fastly’s case, a valid software configuration change by one of its customers triggered a previously undiscovered bug, introduced during a May 12 software deployment. Fastly quickly identified an issue with its content delivery network and announced it was rolling out a fix just 46 minutes after acknowledging a problem. Sites began to spring back to life soon afterward.\nAkamai is one of a number of high-level website and application hosting services that large enterprises use to serve content to millions of users simultaneously.\nRather than hosting all website content on a single set of servers in one location, Fastly’s so-called “edge computing” model puts servers in dozens of locations, allowing websites to serve pages to users from physical locations closest to them. This cuts lag time, speeding up page-loading and spreading the burden on individual servers.\nThese vast and complex setups are run by just a few companies, such as Fastly and Cloudflare Inc.The global edge computing market was valued at $4.68 billion in 2020 and is expected to expand at a compound annual growth rate of 38.4% from 2021 to 2028, according to a recent analysis by Grand View Research.\nWhile these setups usually work perfectly, their complexity means that even a simple error in a configuration file can trigger chain reactions of outages. For users, most of whom rarely need to think about how the internet works, that can come as a shock.","news_type":1,"symbols_score_info":{"CRWD":0.9,"NET":0.9}},"isVote":1,"tweetType":1,"viewCount":2157,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166806290,"gmtCreate":1623999794010,"gmtModify":1634024326773,"author":{"id":"3573824146229547","authorId":"3573824146229547","name":"Hoxyn","avatar":"https://static.tigerbbs.com/69c90aca320bde7e33f469150d40df06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573824146229547","authorIdStr":"3573824146229547"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/166806290","repostId":"1167089681","repostType":4,"repost":{"id":"1167089681","kind":"news","pubTimestamp":1623996062,"share":"https://www.laohu8.com/m/news/1167089681?lang=zh_CN&edition=full","pubTime":"2021-06-18 14:01","market":"us","language":"en","title":"The Trade Desk Stock Split: Time to Buy?<blockquote>The Trade Desk股票分割：是时候买入了吗？</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1167089681","media":"Motley Fool","summary":"The stock is still down about 36% from recent highs.","content":"<p>Shares of data-driven advertising company&nbsp;<b>The Trade Desk</b>&nbsp;(NASDAQ:TTD)&nbsp;jumped sharply on Thursday, following their 10-for-1 split. Today marks the first day that the company's stock is trading on a split basis.</p><p><blockquote>数据驱动广告公司的股票<b>交易台</b>（纳斯达克：TTD）周四大幅上涨，此前他们以10比1的比分。今天是该公司股票分拆交易的第一天。</blockquote></p><p> Stock splits in and of themselves don't do anything to make shares better investments. But The Trade Desk's split -- following massive shareholder value creation since its initial public offering in 2016 -- does highlight management's consistent ability to grow revenue and earnings, something likely to persist in the coming years.</p><p><blockquote>股票分割本身并不能使股票成为更好的投资。但The Trade Desk自2016年首次公开募股以来创造了巨大的股东价值，此次分拆确实凸显了管理层持续增长收入和盈利的能力，这种能力可能会在未来几年持续下去。</blockquote></p><p> This 10-for-1 split, therefore, is a good reminder of what an incredible business The Trade Desk is.</p><p><blockquote>因此，这种10比1的分割很好地提醒了人们Trade Desk是一项多么令人难以置信的业务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/50e503a653795bb7465c0aa43050307a\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Business momentum</b></p><p><blockquote><b>商业动力</b></blockquote></p><p> The&nbsp;tech stock's split follows a period of incredible growth for The Trade Desk, and management says the move reflects its confidence in the company's prospects.</p><p><blockquote>该科技股的分拆是在The Trade Desk经历了一段令人难以置信的增长时期之后进行的，管理层表示，此举反映了其对公司前景的信心。</blockquote></p><p> \"The Trade Desk has consistently delivered strong top line growth and&nbsp;GAAP&nbsp;profitability as a publicly traded company,\" CEO Jeff Green said in a press release about the stock split. \"In that time, we have emerged as the default demand side advertising platform for the open internet, and we continue to invest to build on that leadership position.\"</p><p><blockquote>首席执行官杰夫·格林(Jeff Green)在有关股票分割的新闻稿中表示：“作为一家上市公司，The Trade Desk一直实现强劲的营收增长和公认会计准则盈利能力。”“在此期间，我们已成为开放互联网的默认需求方广告平台，并且我们将继续投资以巩固这一领导地位。”</blockquote></p><p> Over the past four years, The Trade Desk's revenue has risen more than fourfold and its net income has increased 12-fold.</p><p><blockquote>过去四年，The Trade Desk的收入增长了四倍多，净利润增长了12倍。</blockquote></p><p> Even in 2020 -- when digital advertising took a temporary hit as uncertainties surrounding COVID-19 led some ad buyers to reduce spend or even pause their campaigns -- The Trade Desk saw its revenue increase 26% year over year. And as the year ended, its momentum picked up sharply. \"Those brands spending more than $1 million on our platform in 2020 more than doubled from a year ago,\" The Trade Desk said in its&nbsp;fourth-quarter 2020 earnings call.</p><p><blockquote>即使在2020年，由于COVID-19的不确定性导致一些广告买家减少支出甚至暂停活动，数字广告暂时受到打击，The Trade Desk的收入仍同比增长26%。随着年底，其势头急剧回升。The Trade Desk在其2020年第四季度收益看涨期权中表示：“2020年在我们平台上花费超过100万美元的品牌比一年前增加了一倍多。”</blockquote></p><p> Adjusting for U.S. political ad spend, The Trade Desk's top-line revenue growth accelerated further in the first quarter of 2021 compared to its impressive momentum at the end of last year.</p><p><blockquote>经美国政治广告支出调整后，与去年底令人印象深刻的势头相比，The Trade Desk在2021年第一季度的营收增长进一步加速。</blockquote></p><p> \"Excluding political spend related to the U.S. elections last year, which represented a mid-single-digit percent share of our business in Q1 of 2020, revenue increased around 42% year over year in Q1 of this year,\" CFO Blake Grayson said in the company's first-quarter earnings release. \"This represents a material acceleration on a sequential basis from Q4 of 2020 after excluding election spend.\"</p><p><blockquote>首席财务官布莱克·格雷森(Blake Grayson)表示：“排除去年与美国大选相关的政治支出（2020年第一季度占我们业务的中个位数百分比），今年第一季度的收入同比增长约42%。”公司第一季度财报发布。“排除选举支出后，这比2020年第四季度环比大幅加速。”</blockquote></p><p> Furthermore, Grayson said the company saw broad-based strong growth across every region and channel during the quarter. In fact, ad spend on its platform accelerated in every one of its major geographic regions, management said.</p><p><blockquote>此外，格雷森表示，该公司本季度在每个地区和渠道都实现了广泛的强劲增长。管理层表示，事实上，其平台上的广告支出在每个主要地理区域都有所加速。</blockquote></p><p> <b>A buying opportunity</b></p><p><blockquote><b>买入机会</b></blockquote></p><p> Though The Trade Desk's stock split might be drawing attention to the stock on Thursday, the company's fundamentals and recent sell-off are what make it seem like an attractive long-term investment.</p><p><blockquote>尽管The Trade Desk的股票分割可能会在周四引起人们对该股的关注，但该公司的基本面和最近的抛售使其看起来像是一项有吸引力的长期投资。</blockquote></p><p> Even though shares are up sharply today, they are still notably far below a split-adjusted all-time high of $97.28. Shares were slammed earlier this year along with many other growth stocks -- and The Trade Desk has been slow to recover, still trading 36% below a 52-week high.</p><p><blockquote>尽管股价今天大幅上涨，但仍明显远低于拆分调整后的历史高点97.28美元。今年早些时候，该股与许多其他成长型股票一起遭受重创，而The Trade Desk复苏缓慢，交易价格仍比52周高点低36%。</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>The Trade Desk Stock Split: Time to Buy?<blockquote>The Trade Desk股票分割：是时候买入了吗？</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nThe Trade Desk Stock Split: Time to Buy?<blockquote>The Trade Desk股票分割：是时候买入了吗？</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Motley Fool</strong><span class=\"h-time small\">2021-06-18 14:01</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Shares of data-driven advertising company&nbsp;<b>The Trade Desk</b>&nbsp;(NASDAQ:TTD)&nbsp;jumped sharply on Thursday, following their 10-for-1 split. Today marks the first day that the company's stock is trading on a split basis.</p><p><blockquote>数据驱动广告公司的股票<b>交易台</b>（纳斯达克：TTD）周四大幅上涨，此前他们以10比1的比分。今天是该公司股票分拆交易的第一天。</blockquote></p><p> Stock splits in and of themselves don't do anything to make shares better investments. But The Trade Desk's split -- following massive shareholder value creation since its initial public offering in 2016 -- does highlight management's consistent ability to grow revenue and earnings, something likely to persist in the coming years.</p><p><blockquote>股票分割本身并不能使股票成为更好的投资。但The Trade Desk自2016年首次公开募股以来创造了巨大的股东价值，此次分拆确实凸显了管理层持续增长收入和盈利的能力，这种能力可能会在未来几年持续下去。</blockquote></p><p> This 10-for-1 split, therefore, is a good reminder of what an incredible business The Trade Desk is.</p><p><blockquote>因此，这种10比1的分割很好地提醒了人们Trade Desk是一项多么令人难以置信的业务。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/50e503a653795bb7465c0aa43050307a\" tg-width=\"2000\" tg-height=\"1333\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><blockquote><p class=\"t-img-caption\"><span>图片来源：盖蒂图片社。</span></p></blockquote></p><p> <b>Business momentum</b></p><p><blockquote><b>商业动力</b></blockquote></p><p> The&nbsp;tech stock's split follows a period of incredible growth for The Trade Desk, and management says the move reflects its confidence in the company's prospects.</p><p><blockquote>该科技股的分拆是在The Trade Desk经历了一段令人难以置信的增长时期之后进行的，管理层表示，此举反映了其对公司前景的信心。</blockquote></p><p> \"The Trade Desk has consistently delivered strong top line growth and&nbsp;GAAP&nbsp;profitability as a publicly traded company,\" CEO Jeff Green said in a press release about the stock split. \"In that time, we have emerged as the default demand side advertising platform for the open internet, and we continue to invest to build on that leadership position.\"</p><p><blockquote>首席执行官杰夫·格林(Jeff Green)在有关股票分割的新闻稿中表示：“作为一家上市公司，The Trade Desk一直实现强劲的营收增长和公认会计准则盈利能力。”“在此期间，我们已成为开放互联网的默认需求方广告平台，并且我们将继续投资以巩固这一领导地位。”</blockquote></p><p> Over the past four years, The Trade Desk's revenue has risen more than fourfold and its net income has increased 12-fold.</p><p><blockquote>过去四年，The Trade Desk的收入增长了四倍多，净利润增长了12倍。</blockquote></p><p> Even in 2020 -- when digital advertising took a temporary hit as uncertainties surrounding COVID-19 led some ad buyers to reduce spend or even pause their campaigns -- The Trade Desk saw its revenue increase 26% year over year. And as the year ended, its momentum picked up sharply. \"Those brands spending more than $1 million on our platform in 2020 more than doubled from a year ago,\" The Trade Desk said in its&nbsp;fourth-quarter 2020 earnings call.</p><p><blockquote>即使在2020年，由于COVID-19的不确定性导致一些广告买家减少支出甚至暂停活动，数字广告暂时受到打击，The Trade Desk的收入仍同比增长26%。随着年底，其势头急剧回升。The Trade Desk在其2020年第四季度收益看涨期权中表示：“2020年在我们平台上花费超过100万美元的品牌比一年前增加了一倍多。”</blockquote></p><p> Adjusting for U.S. political ad spend, The Trade Desk's top-line revenue growth accelerated further in the first quarter of 2021 compared to its impressive momentum at the end of last year.</p><p><blockquote>经美国政治广告支出调整后，与去年底令人印象深刻的势头相比，The Trade Desk在2021年第一季度的营收增长进一步加速。</blockquote></p><p> \"Excluding political spend related to the U.S. elections last year, which represented a mid-single-digit percent share of our business in Q1 of 2020, revenue increased around 42% year over year in Q1 of this year,\" CFO Blake Grayson said in the company's first-quarter earnings release. \"This represents a material acceleration on a sequential basis from Q4 of 2020 after excluding election spend.\"</p><p><blockquote>首席财务官布莱克·格雷森(Blake Grayson)表示：“排除去年与美国大选相关的政治支出（2020年第一季度占我们业务的中个位数百分比），今年第一季度的收入同比增长约42%。”公司第一季度财报发布。“排除选举支出后，这比2020年第四季度环比大幅加速。”</blockquote></p><p> Furthermore, Grayson said the company saw broad-based strong growth across every region and channel during the quarter. In fact, ad spend on its platform accelerated in every one of its major geographic regions, management said.</p><p><blockquote>此外，格雷森表示，该公司本季度在每个地区和渠道都实现了广泛的强劲增长。管理层表示，事实上，其平台上的广告支出在每个主要地理区域都有所加速。</blockquote></p><p> <b>A buying opportunity</b></p><p><blockquote><b>买入机会</b></blockquote></p><p> Though The Trade Desk's stock split might be drawing attention to the stock on Thursday, the company's fundamentals and recent sell-off are what make it seem like an attractive long-term investment.</p><p><blockquote>尽管The Trade Desk的股票分割可能会在周四引起人们对该股的关注，但该公司的基本面和最近的抛售使其看起来像是一项有吸引力的长期投资。</blockquote></p><p> Even though shares are up sharply today, they are still notably far below a split-adjusted all-time high of $97.28. Shares were slammed earlier this year along with many other growth stocks -- and The Trade Desk has been slow to recover, still trading 36% below a 52-week high.</p><p><blockquote>尽管股价今天大幅上涨，但仍明显远低于拆分调整后的历史高点97.28美元。今年早些时候，该股与许多其他成长型股票一起遭受重创，而The Trade Desk复苏缓慢，交易价格仍比52周高点低36%。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.fool.com/investing/2021/06/17/the-trade-desk-stock-jumps-following-stock-split/\">Motley Fool</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":{"TTD":"Trade Desk Inc."},"source_url":"https://www.fool.com/investing/2021/06/17/the-trade-desk-stock-jumps-following-stock-split/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167089681","content_text":"Shares of data-driven advertising company The Trade Desk (NASDAQ:TTD) jumped sharply on Thursday, following their 10-for-1 split. Today marks the first day that the company's stock is trading on a split basis.\nStock splits in and of themselves don't do anything to make shares better investments. But The Trade Desk's split -- following massive shareholder value creation since its initial public offering in 2016 -- does highlight management's consistent ability to grow revenue and earnings, something likely to persist in the coming years.\nThis 10-for-1 split, therefore, is a good reminder of what an incredible business The Trade Desk is.\nIMAGE SOURCE: GETTY IMAGES.\nBusiness momentum\nThe tech stock's split follows a period of incredible growth for The Trade Desk, and management says the move reflects its confidence in the company's prospects.\n\"The Trade Desk has consistently delivered strong top line growth and GAAP profitability as a publicly traded company,\" CEO Jeff Green said in a press release about the stock split. \"In that time, we have emerged as the default demand side advertising platform for the open internet, and we continue to invest to build on that leadership position.\"\nOver the past four years, The Trade Desk's revenue has risen more than fourfold and its net income has increased 12-fold.\nEven in 2020 -- when digital advertising took a temporary hit as uncertainties surrounding COVID-19 led some ad buyers to reduce spend or even pause their campaigns -- The Trade Desk saw its revenue increase 26% year over year. And as the year ended, its momentum picked up sharply. \"Those brands spending more than $1 million on our platform in 2020 more than doubled from a year ago,\" The Trade Desk said in its fourth-quarter 2020 earnings call.\nAdjusting for U.S. political ad spend, The Trade Desk's top-line revenue growth accelerated further in the first quarter of 2021 compared to its impressive momentum at the end of last year.\n\"Excluding political spend related to the U.S. elections last year, which represented a mid-single-digit percent share of our business in Q1 of 2020, revenue increased around 42% year over year in Q1 of this year,\" CFO Blake Grayson said in the company's first-quarter earnings release. \"This represents a material acceleration on a sequential basis from Q4 of 2020 after excluding election spend.\"\nFurthermore, Grayson said the company saw broad-based strong growth across every region and channel during the quarter. In fact, ad spend on its platform accelerated in every one of its major geographic regions, management said.\nA buying opportunity\nThough The Trade Desk's stock split might be drawing attention to the stock on Thursday, the company's fundamentals and recent sell-off are what make it seem like an attractive long-term investment.\nEven though shares are up sharply today, they are still notably far below a split-adjusted all-time high of $97.28. Shares were slammed earlier this year along with many other growth stocks -- and The Trade Desk has been slow to recover, still trading 36% below a 52-week high.","news_type":1,"symbols_score_info":{"TTD":0.9}},"isVote":1,"tweetType":1,"viewCount":1367,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":163996760,"gmtCreate":1623855599050,"gmtModify":1634026979283,"author":{"id":"3573824146229547","authorId":"3573824146229547","name":"Hoxyn","avatar":"https://static.tigerbbs.com/69c90aca320bde7e33f469150d40df06","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3573824146229547","authorIdStr":"3573824146229547"},"themes":[],"htmlText":"To the moon?","listText":"To the moon?","text":"To the moon?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/163996760","repostId":"1148768572","repostType":2,"repost":{"id":"1148768572","kind":"news","pubTimestamp":1623822306,"share":"https://www.laohu8.com/m/news/1148768572?lang=zh_CN&edition=full","pubTime":"2021-06-16 13:45","market":"us","language":"en","title":"Wish Stock: Patient Investors Could Soon See $20 Again<blockquote>Wish股票：耐心的投资者很快就会再次看到20美元</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1148768572","media":"seekingalpha","summary":"Summary\n\nWish (ContextLogic) remains one of the most underappreciated assets within e-commerce tradi","content":"<p><b>Summary</b></p><p><blockquote><b>总结</b></blockquote></p><p> <ul>  <li>Wish (ContextLogic) remains one of the most underappreciated assets within e-commerce trading at just 1.3x forward EV to Sales.</li>  <li>Wish's latest partnership with PrestaShop will further accelerate international expansion and growth initiatives.</li>  <li>While accurate data regarding its short interest is difficult to find as most of its float is still locked up, I estimate a short interest between 30-40%.</li>  <li>I believe bear arguments including high marketing spend and stalling user numbers are already baked in the current share price.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/983667978a1675a8b256d7b0478a876c\" tg-width=\"1536\" tg-height=\"934\" referrerpolicy=\"no-referrer\"><span>JuSun/iStock via Getty Images</span></p><p><blockquote><ul><li>Wish(ContextLogic)仍然是电子商务交易中最被低估的资产之一，其远期EV与销售额之比仅为1.3倍。</li><li>Wish与PrestaShop的最新合作伙伴关系将进一步加速国际扩张和增长计划。</li><li>虽然很难找到有关其空头利息的准确数据，因为其大部分流通量仍被锁定，但我估计空头利息在30-40%之间。</li><li>我相信，包括高额营销支出和用户数量停滞在内的看跌论点已经在当前股价中根深蒂固。</li></ul><p class=\"t-img-caption\"><span>JuSun/iStock来自Getty Images</span></p></blockquote></p><p> <b>Overview</b></p><p><blockquote><b>概述</b></blockquote></p><p> ContextLogic (WISH) has been a wild ride for shareholders, as high volatility continues to cause significant price movements in recent weeks. The e-commerce platform initially went public in December at $20 per share before surging to an all-time high of $32 in February due to a momentum-driven rally. That said, shares have steadily plunged ever since, hitting an all-time low of just $7 in June, but are now recovering swiftly after increased interest from the retail trading sector. Here, the stock is favored due to its high volatility, short interest, and enormous upside potential.</p><p><blockquote>ContextLogic(WISH)对股东来说是一段疯狂的旅程，因为最近几周高波动性继续导致价格大幅波动。该电子商务平台最初于12月以每股20美元的价格上市，随后由于势头驱动的反弹，在2月份飙升至32美元的历史高点。尽管如此，自那以后，股价稳步暴跌，在6月份触及仅7美元的历史低点，但在零售交易部门的兴趣增加后，现在正在迅速复苏。在这里，该股因其高波动性、空头兴趣和巨大的上涨潜力而受到青睐。</blockquote></p><p> In this context, I believe that the high short interest has increasingly pushed shares below fair value and that patient investors could soon see $20 or more again as the company is working through logistic challenges and will soon return to economies of scale. In this regard, the e-commerce platform has a unique value proposition and is well-positioned to gain market share in a $6 trillion e-commerce industry.</p><p><blockquote>在这种情况下，我认为高空头兴趣越来越多地将股价推至公允价值以下，耐心的投资者可能很快就会再次看到20美元或更多，因为该公司正在应对物流挑战，并将很快恢复规模经济。在这方面，该电子商务平台具有独特的价值主张，并处于有利地位，可以在6万亿美元的电子商务行业中获得市场份额。</blockquote></p><p> <b>The Digital Dollar Tree</b></p><p><blockquote><b>数字美元树</b></blockquote></p><p> Wish has been criticized heavily as an e-commerce platform, and I would almost argue that its image of being a third-party 'dropshipping' site for Chinese merchants has kept investors away from the stock so far. However, this may only be partially true. Essentially, Wish has inverted Amazon's(NASDAQ:AMZN)business model through low-priced (low-quality) products and sluggish delivery times that may lead to week-long delivery times. This is because Wish does not handle shipping itself, which is why it can offer these ultra-low prices of offering a hoodie for $2 plus $2 shipping.</p><p><blockquote>Wish作为一个电子商务平台受到了严厉批评，我几乎可以说，它作为中国商家第三方“直运”网站的形象让投资者迄今为止远离了该股。然而，这可能只是部分正确。从本质上讲，Wish通过低价（低质量）产品和缓慢的交付时间（可能导致长达一周的交付时间）扭转了亚马逊（纳斯达克：AMZN）的商业模式。这是因为Wish本身不处理运输，这就是为什么它可以提供这些超低价格，提供2美元加2美元运费的连帽衫。</blockquote></p><p> Frankly, Wish is still dependent on Chinese merchants, accounting for most of its product catalogs. This is unsurprising, considering that most goods are produced in China as the production costs are among the lowest in the world. Most of the goods being sold on Amazon or eBay(NASDAQ:EBAY)were also produced in China, although they earn a higher perception due to one-day delivery shipping programs or higher prices.</p><p><blockquote>坦率地说，Wish仍然依赖中国商家，占其产品目录的大部分。考虑到大多数商品都是在中国生产的，因为生产成本是世界上最低的之一，这并不奇怪。亚马逊或eBay（纳斯达克：eBay）上销售的大多数商品也是在中国生产的，尽管由于一日送达计划或更高的价格，它们获得了更高的认知度。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2bea733440e86851af57559c6a5fd6bd\" tg-width=\"640\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Now, I view Wish as the digital dollar tree, where online shoppers discover items that they want, not need. In the process, customers have more patience for products and are willing to wait longer for them to arrive. Wish is working towards addressing both of these issues (quality and merchant diversification) as its platform is gaining popularity. Here, it has been investing in logistics to offer quicker delivery, demonstrated by a 275% YoY increase in logistics revenue. Since these revenues provide low margins, its overall gross margins have decreased in accordance. However, once it achieves economies of scale in the segment, margin growth should reverse and trail back towards 70%.</p><p><blockquote>现在，我将Wish视为数字美元树，在线购物者在这里发现他们想要而不是需要的商品。在这个过程中，客户对产品更有耐心，愿意等待更长时间才能到货。随着其平台越来越受欢迎，Wish正在努力解决这两个问题（质量和商家多元化）。在这里，它一直在投资物流以提供更快的交付，物流收入同比增长275%就证明了这一点。由于这些收入的利润率较低，其整体毛利率也相应下降。然而，一旦该领域实现规模经济，利润率增长应该会逆转并回落至70%。</blockquote></p><p> It is also addressing the second issue by continuously growing its international merchant base. Here, U.S. merchants increased by over 400% YoY, and a similar trend is to be seen in other countries. Moreover, it is growing Wish Local, a service connecting local businesses to the platform, accounting for 7% of all Wish orders. Wish local is mostly (or exclusively) available in the United States and thus increasingly mixes with other products on the website.</p><p><blockquote>它还通过不断扩大其国际商户基础来解决第二个问题。在这里，美国商家同比增长超过400%，在其他国家也可以看到类似的趋势。此外，它正在增长Wish Local，这是一项将本地企业与平台连接起来的服务，占所有Wish订单的7%。Wish local主要（或专门）在美国销售，因此越来越多地与网站上的其他产品混合在一起。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09eb88453d075db6b7b8edd21f981b4a\" tg-width=\"640\" tg-height=\"381\"><span>Source: Sensor Tower</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：传感器塔</span></p></blockquote></p><p> I also like Wish's strategy to engage and retain users by utilizing an AI matching system that optimizes platform growth, user experience, and merchant return on investment. The strategy to create an interactive mobile shopping experience appears to be working well: Impressively, Wish gets over500,000reviews per day from users, surpassing even Amazon and other shopping sites in this regard, demonstrating just about how engaging the platform is. Around 80% of first-time shoppersreturnto buy again.</p><p><blockquote>我还喜欢Wish通过利用人工智能匹配系统来吸引和留住用户的策略，该系统可以优化平台增长、用户体验和商家投资回报。创造互动移动购物体验的策略似乎运作良好：令人印象深刻的是，Wish每天从用户那里获得超过50万条评论，在这方面甚至超过了亚马逊和其他购物网站，展示了该平台的吸引力。大约80%的首次购物者会再次购买。</blockquote></p><p></p><p> Wish is, therefore, able to establish itself in the highly competitive E-commerce market that offers a tremendous runway for growth. Currently, around 40% of the E-commerce market share is owned just by Amazon. Compared to Amazon, its TAM may be limited as it concentrates on its lower-income niche, which is how it became popular in the first place. Still, this represents a +$3 trillion market opportunity for Wish to tap into. It is also worth noting that according toreports, Amazon tried to acquire Wish for $10 billion, yet Wish rejected, believing growing the business to $100 billion in annual sales, at which point it would be valued significantly higher.</p><p><blockquote>因此，Wish能够在竞争激烈的电子商务市场中站稳脚跟，为其提供了巨大的增长空间。目前，大约40%的电子商务市场份额仅由亚马逊拥有。与亚马逊相比，其TAM可能有限，因为它专注于低收入利基市场，这也是它最初受欢迎的原因。尽管如此，这仍为Wish提供了超过3万亿美元的市场机会。还值得注意的是，据报道，亚马逊试图以100亿美元收购Wish，但Wish拒绝了，认为该业务的年销售额将增长到1000亿美元，届时其估值将明显更高。</blockquote></p><p> <b>Negative Sentiment Baked In</b></p><p><blockquote><b>负面情绪根深蒂固</b></blockquote></p><p> Wish's first two quarters have been slightly disappointing. While the company handily beat revenue estimates, the company burned through over $300 million in cash in order to invest in logistics. More importantly, however, is the fact that MAUs have dropped steadily, which the company blames on de-de-emphasizing advertising and customer acquisition as the company worked through logistics challenges it faced earlier in the year.</p><p><blockquote>Wish的前两个季度有点令人失望。虽然该公司轻松超出了收入预期，但为了投资物流，该公司消耗了超过3亿美元的现金。然而，更重要的是，月活跃用户数稳步下降，该公司将此归咎于该公司在应对今年早些时候面临的物流挑战时不再重视广告和客户获取。</blockquote></p><p> <table>  <tbody>   <tr>    <td>Year</td>    <td>2020</td>    <td>2019</td>    <td>2018</td>   </tr>   <tr>    <td>Revenue</td>    <td>$2.54B</td>    <td>$1.9B</td>    <td>$1.73B</td>   </tr>   <tr>    <td>Gross Profit</td>    <td>$1.59B</td>    <td>$1.46B</td>    <td>$1.45B</td>   </tr>   <tr>    <td><b>Sales and Marketing</b></td>    <td><b>$1.71B (+17%)</b></td>    <td><b>$1.46B (-7%)</b></td>    <td><b>$1.57B</b></td>   </tr>   <tr>    <td>MAUs</td>    <td>107M (+19%)</td>    <td>90M (+10%)</p><p><blockquote><table><tbody><tr><td>年</td><td>2020</td><td>2019</td><td>2018</td></tr><tr><td>收入</td><td>$2.54 B</td><td>19亿美元</td><td>$1.73 B</td></tr><tr><td>毛利</td><td>$1.59 B</td><td>$1.46 B</td><td>$1.45 B</td></tr><tr><td><b>销售及市场推广</b></td><td><b>$17.1亿(+17%)</b></td><td><b>$1.46 B(-7%)</b></td><td><b>$1.57 B</b></td></tr><tr><td>老鼠</td><td>1.07亿(+19%)</td><td>9000万(+10%)</td></tr></tbody></table></blockquote></p><p></td>    <td>82M</td>   </tr>   <tr>    <td><b>Active Buyers</b></td>    <td><b>64M (+3%)</b></td>    <td><b>62M (-3%)</b></td>    <td><b>64M</b></td>   </tr>  </tbody> </table> *Growth (Year-over-Year)</p><p><blockquote><td>82M</td><tr><td><b>活跃买家</b></td><td><b>6400万(+3%)</b></td><td><b>6200万(-3%)</b></td><td><b>64M</b></td></tr>*增长（同比）</blockquote></p><p> The largest bear argument against Wish is its high marketing expenses, which account for 60% of its total revenues and over 100% of its gross profits. This is totally fine unless it grows its active buyers through marketing, which unfortunately has not been the case. This is a red flag and questions the long-term sustainability of Wish's business model. However, the company has been close to being cash flow positive, and it stated it already would be profitable if it weren't for its extensive marketing expense. That said, as long as Wish acquires new MAUs and increases value through logistic services, its marketing expenses pay off in the long run. Moreover, as a percentage of total revenues, Wish's marketing expenses have dropped to 60%, down from 67% in the year prior.</p><p><blockquote>Wish最大的看跌理由是其高昂的营销费用，占其总收入的60%，占其毛利润的100%以上。这完全没问题，除非它通过营销增加活跃买家，不幸的是事实并非如此。这是一个危险信号，并质疑Wish商业模式的长期可持续性。然而，该公司一直接近正现金流，并表示如果不是因为其大量的营销费用，它已经实现了盈利。也就是说，只要Wish获得新的月活跃用户并通过物流服务增加价值，从长远来看，其营销费用就会得到回报。此外，Wish的营销费用占总收入的比例已从上年的67%降至60%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e18c23728274ee708d896923820b282\" tg-width=\"635\" tg-height=\"278\"><span>Source: Wish IR</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Wish IR</span></p></blockquote></p><p> In terms of the outlook, this is what the company is essentially stressing. It believes marketing expenses can decrease to 40-45%, leading to EBITDA margins of 25% at the midpoint range. If it achieves these ambitious goals (which is very well possible), its profitability margins would be similar to those of eBay or MercadoLibre(NASDAQ:MELI). In either way, Wish's business model is not perfect, but all these concerns are more than baked in its current valuation, IMO (In My Opinion).</p><p><blockquote>就前景而言，这就是该公司本质上强调的。它相信营销费用可以降低到40-45%，从而使EBITDA利润率达到25%的中点范围。如果它实现了这些雄心勃勃的目标（这很有可能），其利润率将与eBay或MercadoLibre（纳斯达克：MELI）相似。不管怎样，Wish的商业模式并不完美，但在我看来（在我看来），所有这些担忧都不仅仅体现在其当前的估值中。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/54029f94c37f301d26e93a11636280e7\" tg-width=\"635\" tg-height=\"470\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Even after the latest +50% rise, shares are still trailing far behind peers such as Poshmark(NASDAQ:POSH), eBay, Amazon, and (Shopify(NYSE:SHOP)). At over $3 billion estimated revenues, Wish is trading at just 1.8x Price to Sales, just half of eBay's current valuation and much lower than Poshmark. Current estimates are calling for over $6 billion in revenues by 2025 and $1 billion in free cash flow, meaning that Wish trades at just 7x free cash flow estimates, or 1 times sales. In early 2021, its P/S ratio stood closer to 5x, so there is potential for a valuation expansion.</p><p><blockquote>即使在最近上涨了50%以上之后，股价仍然远远落后于Poshmark（纳斯达克股票代码：POSH）、eBay、Amazon和（Shopify（纽约证券交易所股票代码：SHOP））等同行。Wish的预计收入超过30亿美元，其市销率仅为1.8倍，仅为eBay当前估值的一半，远低于Poshmark。目前的估计是，到2025年，收入将超过60亿美元，自由现金流将达到10亿美元，这意味着Wish的交易价格仅为自由现金流估计的7倍，即销售额的1倍。2021年初，其市盈率接近5倍，估值存在扩张潜力。</blockquote></p><p> <b>What about the Lawsuits?</b></p><p><blockquote><b>诉讼呢？</b></blockquote></p><p> Perhaps you've seen the news (especially on Yahoo Finance) regarding the class actionlawsuits. These lawsuits are extensively posted to remind investors of recovering incurred losses after its share price dropped in recent months. Such lawsuits are not unusual when stocks drop sharply in a short period of time and are likely of no concern to investors. These lawsuits have also included companies such asCloverHealth(NASDAQ:CLOV), Skillz(NYSE:SKLZ), Array Technologies(NASDAQ:ARRY), etc.</p><p><blockquote>也许你已经看过关于集体诉讼的新闻（尤其是在雅虎财经上）。这些诉讼被广泛发布，以提醒投资者在近几个月股价下跌后挽回损失。当股票在短时间内大幅下跌并且投资者可能不关心时，此类诉讼并不罕见。这些诉讼还包括CloverHealth（纳斯达克：CLOV）、Skillz（纽约证券交易所：SKLZ）、Array Technologies（纳斯达克：ARRY）等公司。</blockquote></p><p> Short Interest - Still High</p><p><blockquote>空头利息——仍然很高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/875b3fdaf74f1ef639b51d77a3aac01f\" tg-width=\"640\" tg-height=\"360\"><span>Source: Fintel</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Fintel</span></p></blockquote></p><p></p><p> Wish has gained significant attraction from retail investors, as investors were looking for the next big short squeeze. Since most of Wish's shares have still been locked up, its exact short ratio was difficult to estimate. According to Seeking Alpha, the current short ratio stands at just 7%, but the figure is likely higher. Last week, its short interest as a percent of its equity float stood at roughly 48%, according to Bloomberg Terminal data. Other sources such as Fintel pin the current short volume at 20-30%. Now, it's difficult to give an exact estimate, but generally speaking, it's probably somewhere within this range, and many short calls are still to be covered. In the long term, the high-short interest could be an advantage, leading to a quicker acceleration if the stock begins trending upwards.</p><p><blockquote>Wish已经获得了散户投资者的巨大吸引力，因为投资者正在寻找下一次大的轧空。由于Wish的大部分股票仍被锁定，其确切的做空比率很难估计。根据Seeking Alpha的数据，目前的空头比率仅为7%，但这个数字可能会更高。根据彭博终端数据，上周其空头权益占其流通股的百分比约为48%。Fintel等其他消息来源将当前的空头量确定为20-30%。现在，很难给出一个确切的估计，但总体来说，很可能在这个范围内的某个地方，许多空头评级仍有待回补。从长远来看，高空头兴趣可能是一个优势，如果股票开始呈上升趋势，就会导致更快的加速。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> I believe that Wish remains one of the most underappreciated assets within e-commerce, boasting over 100 million monthly users on its platform and connecting thousands of merchants from all over the world. The mobile shopping app continues to be one of the top downloaded shopping apps in the space and has a unique value proposition, which is smarter than it appears at first sight. Moreover, its latestpartnershipwith PrestaShop will give over 300,000 merchants free access to a direct integration that connects them directly to Wish's merchant dashboard, further driving growth. While there are risks to Wish's imperfect business model, such as lagging profitability, patient investors could be rewarded mightily.</p><p><blockquote>我相信Wish仍然是电子商务中最被低估的资产之一，其平台上拥有超过1亿的月用户，并连接了来自世界各地的数千家商家。移动购物应用程序仍然是该领域下载量最高的购物应用程序之一，并具有独特的价值主张，比乍一看更智能。此外，其与PrestaShop的最新合作伙伴关系将为超过300,000家商家提供免费的直接集成，将他们直接连接到Wish的商家仪表板，从而进一步推动增长。尽管Wish不完善的商业模式存在盈利能力滞后等风险，但耐心的投资者可能会获得丰厚的回报。</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>Wish Stock: Patient Investors Could Soon See $20 Again<blockquote>Wish股票：耐心的投资者很快就会再次看到20美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWish Stock: Patient Investors Could Soon See $20 Again<blockquote>Wish股票：耐心的投资者很快就会再次看到20美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">seekingalpha</strong><span class=\"h-time small\">2021-06-16 13:45</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>Wish (ContextLogic) remains one of the most underappreciated assets within e-commerce trading at just 1.3x forward EV to Sales.</li>  <li>Wish's latest partnership with PrestaShop will further accelerate international expansion and growth initiatives.</li>  <li>While accurate data regarding its short interest is difficult to find as most of its float is still locked up, I estimate a short interest between 30-40%.</li>  <li>I believe bear arguments including high marketing spend and stalling user numbers are already baked in the current share price.</li> </ul> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/983667978a1675a8b256d7b0478a876c\" tg-width=\"1536\" tg-height=\"934\" referrerpolicy=\"no-referrer\"><span>JuSun/iStock via Getty Images</span></p><p><blockquote><ul><li>Wish(ContextLogic)仍然是电子商务交易中最被低估的资产之一，其远期EV与销售额之比仅为1.3倍。</li><li>Wish与PrestaShop的最新合作伙伴关系将进一步加速国际扩张和增长计划。</li><li>虽然很难找到有关其空头利息的准确数据，因为其大部分流通量仍被锁定，但我估计空头利息在30-40%之间。</li><li>我相信，包括高额营销支出和用户数量停滞在内的看跌论点已经在当前股价中根深蒂固。</li></ul><p class=\"t-img-caption\"><span>JuSun/iStock来自Getty Images</span></p></blockquote></p><p> <b>Overview</b></p><p><blockquote><b>概述</b></blockquote></p><p> ContextLogic (WISH) has been a wild ride for shareholders, as high volatility continues to cause significant price movements in recent weeks. The e-commerce platform initially went public in December at $20 per share before surging to an all-time high of $32 in February due to a momentum-driven rally. That said, shares have steadily plunged ever since, hitting an all-time low of just $7 in June, but are now recovering swiftly after increased interest from the retail trading sector. Here, the stock is favored due to its high volatility, short interest, and enormous upside potential.</p><p><blockquote>ContextLogic(WISH)对股东来说是一段疯狂的旅程，因为最近几周高波动性继续导致价格大幅波动。该电子商务平台最初于12月以每股20美元的价格上市，随后由于势头驱动的反弹，在2月份飙升至32美元的历史高点。尽管如此，自那以后，股价稳步暴跌，在6月份触及仅7美元的历史低点，但在零售交易部门的兴趣增加后，现在正在迅速复苏。在这里，该股因其高波动性、空头兴趣和巨大的上涨潜力而受到青睐。</blockquote></p><p> In this context, I believe that the high short interest has increasingly pushed shares below fair value and that patient investors could soon see $20 or more again as the company is working through logistic challenges and will soon return to economies of scale. In this regard, the e-commerce platform has a unique value proposition and is well-positioned to gain market share in a $6 trillion e-commerce industry.</p><p><blockquote>在这种情况下，我认为高空头兴趣越来越多地将股价推至公允价值以下，耐心的投资者可能很快就会再次看到20美元或更多，因为该公司正在应对物流挑战，并将很快恢复规模经济。在这方面，该电子商务平台具有独特的价值主张，并处于有利地位，可以在6万亿美元的电子商务行业中获得市场份额。</blockquote></p><p> <b>The Digital Dollar Tree</b></p><p><blockquote><b>数字美元树</b></blockquote></p><p> Wish has been criticized heavily as an e-commerce platform, and I would almost argue that its image of being a third-party 'dropshipping' site for Chinese merchants has kept investors away from the stock so far. However, this may only be partially true. Essentially, Wish has inverted Amazon's(NASDAQ:AMZN)business model through low-priced (low-quality) products and sluggish delivery times that may lead to week-long delivery times. This is because Wish does not handle shipping itself, which is why it can offer these ultra-low prices of offering a hoodie for $2 plus $2 shipping.</p><p><blockquote>Wish作为一个电子商务平台受到了严厉批评，我几乎可以说，它作为中国商家第三方“直运”网站的形象让投资者迄今为止远离了该股。然而，这可能只是部分正确。从本质上讲，Wish通过低价（低质量）产品和缓慢的交付时间（可能导致长达一周的交付时间）扭转了亚马逊（纳斯达克：AMZN）的商业模式。这是因为Wish本身不处理运输，这就是为什么它可以提供这些超低价格，提供2美元加2美元运费的连帽衫。</blockquote></p><p> Frankly, Wish is still dependent on Chinese merchants, accounting for most of its product catalogs. This is unsurprising, considering that most goods are produced in China as the production costs are among the lowest in the world. Most of the goods being sold on Amazon or eBay(NASDAQ:EBAY)were also produced in China, although they earn a higher perception due to one-day delivery shipping programs or higher prices.</p><p><blockquote>坦率地说，Wish仍然依赖中国商家，占其产品目录的大部分。考虑到大多数商品都是在中国生产的，因为生产成本是世界上最低的之一，这并不奇怪。亚马逊或eBay（纳斯达克：eBay）上销售的大多数商品也是在中国生产的，尽管由于一日送达计划或更高的价格，它们获得了更高的认知度。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/2bea733440e86851af57559c6a5fd6bd\" tg-width=\"640\" tg-height=\"363\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> Now, I view Wish as the digital dollar tree, where online shoppers discover items that they want, not need. In the process, customers have more patience for products and are willing to wait longer for them to arrive. Wish is working towards addressing both of these issues (quality and merchant diversification) as its platform is gaining popularity. Here, it has been investing in logistics to offer quicker delivery, demonstrated by a 275% YoY increase in logistics revenue. Since these revenues provide low margins, its overall gross margins have decreased in accordance. However, once it achieves economies of scale in the segment, margin growth should reverse and trail back towards 70%.</p><p><blockquote>现在，我将Wish视为数字美元树，在线购物者在这里发现他们想要而不是需要的商品。在这个过程中，客户对产品更有耐心，愿意等待更长时间才能到货。随着其平台越来越受欢迎，Wish正在努力解决这两个问题（质量和商家多元化）。在这里，它一直在投资物流以提供更快的交付，物流收入同比增长275%就证明了这一点。由于这些收入的利润率较低，其整体毛利率也相应下降。然而，一旦该领域实现规模经济，利润率增长应该会逆转并回落至70%。</blockquote></p><p> It is also addressing the second issue by continuously growing its international merchant base. Here, U.S. merchants increased by over 400% YoY, and a similar trend is to be seen in other countries. Moreover, it is growing Wish Local, a service connecting local businesses to the platform, accounting for 7% of all Wish orders. Wish local is mostly (or exclusively) available in the United States and thus increasingly mixes with other products on the website.</p><p><blockquote>它还通过不断扩大其国际商户基础来解决第二个问题。在这里，美国商家同比增长超过400%，在其他国家也可以看到类似的趋势。此外，它正在增长Wish Local，这是一项将本地企业与平台连接起来的服务，占所有Wish订单的7%。Wish local主要（或专门）在美国销售，因此越来越多地与网站上的其他产品混合在一起。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/09eb88453d075db6b7b8edd21f981b4a\" tg-width=\"640\" tg-height=\"381\"><span>Source: Sensor Tower</span></p><p><blockquote><p class=\"t-img-caption\"><span>来源：传感器塔</span></p></blockquote></p><p> I also like Wish's strategy to engage and retain users by utilizing an AI matching system that optimizes platform growth, user experience, and merchant return on investment. The strategy to create an interactive mobile shopping experience appears to be working well: Impressively, Wish gets over500,000reviews per day from users, surpassing even Amazon and other shopping sites in this regard, demonstrating just about how engaging the platform is. Around 80% of first-time shoppersreturnto buy again.</p><p><blockquote>我还喜欢Wish通过利用人工智能匹配系统来吸引和留住用户的策略，该系统可以优化平台增长、用户体验和商家投资回报。创造互动移动购物体验的策略似乎运作良好：令人印象深刻的是，Wish每天从用户那里获得超过50万条评论，在这方面甚至超过了亚马逊和其他购物网站，展示了该平台的吸引力。大约80%的首次购物者会再次购买。</blockquote></p><p></p><p> Wish is, therefore, able to establish itself in the highly competitive E-commerce market that offers a tremendous runway for growth. Currently, around 40% of the E-commerce market share is owned just by Amazon. Compared to Amazon, its TAM may be limited as it concentrates on its lower-income niche, which is how it became popular in the first place. Still, this represents a +$3 trillion market opportunity for Wish to tap into. It is also worth noting that according toreports, Amazon tried to acquire Wish for $10 billion, yet Wish rejected, believing growing the business to $100 billion in annual sales, at which point it would be valued significantly higher.</p><p><blockquote>因此，Wish能够在竞争激烈的电子商务市场中站稳脚跟，为其提供了巨大的增长空间。目前，大约40%的电子商务市场份额仅由亚马逊拥有。与亚马逊相比，其TAM可能有限，因为它专注于低收入利基市场，这也是它最初受欢迎的原因。尽管如此，这仍为Wish提供了超过3万亿美元的市场机会。还值得注意的是，据报道，亚马逊试图以100亿美元收购Wish，但Wish拒绝了，认为该业务的年销售额将增长到1000亿美元，届时其估值将明显更高。</blockquote></p><p> <b>Negative Sentiment Baked In</b></p><p><blockquote><b>负面情绪根深蒂固</b></blockquote></p><p> Wish's first two quarters have been slightly disappointing. While the company handily beat revenue estimates, the company burned through over $300 million in cash in order to invest in logistics. More importantly, however, is the fact that MAUs have dropped steadily, which the company blames on de-de-emphasizing advertising and customer acquisition as the company worked through logistics challenges it faced earlier in the year.</p><p><blockquote>Wish的前两个季度有点令人失望。虽然该公司轻松超出了收入预期，但为了投资物流，该公司消耗了超过3亿美元的现金。然而，更重要的是，月活跃用户数稳步下降，该公司将此归咎于该公司在应对今年早些时候面临的物流挑战时不再重视广告和客户获取。</blockquote></p><p> <table>  <tbody>   <tr>    <td>Year</td>    <td>2020</td>    <td>2019</td>    <td>2018</td>   </tr>   <tr>    <td>Revenue</td>    <td>$2.54B</td>    <td>$1.9B</td>    <td>$1.73B</td>   </tr>   <tr>    <td>Gross Profit</td>    <td>$1.59B</td>    <td>$1.46B</td>    <td>$1.45B</td>   </tr>   <tr>    <td><b>Sales and Marketing</b></td>    <td><b>$1.71B (+17%)</b></td>    <td><b>$1.46B (-7%)</b></td>    <td><b>$1.57B</b></td>   </tr>   <tr>    <td>MAUs</td>    <td>107M (+19%)</td>    <td>90M (+10%)</p><p><blockquote><table><tbody><tr><td>年</td><td>2020</td><td>2019</td><td>2018</td></tr><tr><td>收入</td><td>$2.54 B</td><td>19亿美元</td><td>$1.73 B</td></tr><tr><td>毛利</td><td>$1.59 B</td><td>$1.46 B</td><td>$1.45 B</td></tr><tr><td><b>销售及市场推广</b></td><td><b>$17.1亿(+17%)</b></td><td><b>$1.46 B(-7%)</b></td><td><b>$1.57 B</b></td></tr><tr><td>老鼠</td><td>1.07亿(+19%)</td><td>9000万(+10%)</td></tr></tbody></table></blockquote></p><p></td>    <td>82M</td>   </tr>   <tr>    <td><b>Active Buyers</b></td>    <td><b>64M (+3%)</b></td>    <td><b>62M (-3%)</b></td>    <td><b>64M</b></td>   </tr>  </tbody> </table> *Growth (Year-over-Year)</p><p><blockquote><td>82M</td><tr><td><b>活跃买家</b></td><td><b>6400万(+3%)</b></td><td><b>6200万(-3%)</b></td><td><b>64M</b></td></tr>*增长（同比）</blockquote></p><p> The largest bear argument against Wish is its high marketing expenses, which account for 60% of its total revenues and over 100% of its gross profits. This is totally fine unless it grows its active buyers through marketing, which unfortunately has not been the case. This is a red flag and questions the long-term sustainability of Wish's business model. However, the company has been close to being cash flow positive, and it stated it already would be profitable if it weren't for its extensive marketing expense. That said, as long as Wish acquires new MAUs and increases value through logistic services, its marketing expenses pay off in the long run. Moreover, as a percentage of total revenues, Wish's marketing expenses have dropped to 60%, down from 67% in the year prior.</p><p><blockquote>Wish最大的看跌理由是其高昂的营销费用，占其总收入的60%，占其毛利润的100%以上。这完全没问题，除非它通过营销增加活跃买家，不幸的是事实并非如此。这是一个危险信号，并质疑Wish商业模式的长期可持续性。然而，该公司一直接近正现金流，并表示如果不是因为其大量的营销费用，它已经实现了盈利。也就是说，只要Wish获得新的月活跃用户并通过物流服务增加价值，从长远来看，其营销费用就会得到回报。此外，Wish的营销费用占总收入的比例已从上年的67%降至60%。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3e18c23728274ee708d896923820b282\" tg-width=\"635\" tg-height=\"278\"><span>Source: Wish IR</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Wish IR</span></p></blockquote></p><p> In terms of the outlook, this is what the company is essentially stressing. It believes marketing expenses can decrease to 40-45%, leading to EBITDA margins of 25% at the midpoint range. If it achieves these ambitious goals (which is very well possible), its profitability margins would be similar to those of eBay or MercadoLibre(NASDAQ:MELI). In either way, Wish's business model is not perfect, but all these concerns are more than baked in its current valuation, IMO (In My Opinion).</p><p><blockquote>就前景而言，这就是该公司本质上强调的。它相信营销费用可以降低到40-45%，从而使EBITDA利润率达到25%的中点范围。如果它实现了这些雄心勃勃的目标（这很有可能），其利润率将与eBay或MercadoLibre（纳斯达克：MELI）相似。不管怎样，Wish的商业模式并不完美，但在我看来（在我看来），所有这些担忧都不仅仅体现在其当前的估值中。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/54029f94c37f301d26e93a11636280e7\" tg-width=\"635\" tg-height=\"470\"><span>Data byYCharts</span></p><p><blockquote><p class=\"t-img-caption\"><span>数据来自YCharts</span></p></blockquote></p><p> Even after the latest +50% rise, shares are still trailing far behind peers such as Poshmark(NASDAQ:POSH), eBay, Amazon, and (Shopify(NYSE:SHOP)). At over $3 billion estimated revenues, Wish is trading at just 1.8x Price to Sales, just half of eBay's current valuation and much lower than Poshmark. Current estimates are calling for over $6 billion in revenues by 2025 and $1 billion in free cash flow, meaning that Wish trades at just 7x free cash flow estimates, or 1 times sales. In early 2021, its P/S ratio stood closer to 5x, so there is potential for a valuation expansion.</p><p><blockquote>即使在最近上涨了50%以上之后，股价仍然远远落后于Poshmark（纳斯达克股票代码：POSH）、eBay、Amazon和（Shopify（纽约证券交易所股票代码：SHOP））等同行。Wish的预计收入超过30亿美元，其市销率仅为1.8倍，仅为eBay当前估值的一半，远低于Poshmark。目前的估计是，到2025年，收入将超过60亿美元，自由现金流将达到10亿美元，这意味着Wish的交易价格仅为自由现金流估计的7倍，即销售额的1倍。2021年初，其市盈率接近5倍，估值存在扩张潜力。</blockquote></p><p> <b>What about the Lawsuits?</b></p><p><blockquote><b>诉讼呢？</b></blockquote></p><p> Perhaps you've seen the news (especially on Yahoo Finance) regarding the class actionlawsuits. These lawsuits are extensively posted to remind investors of recovering incurred losses after its share price dropped in recent months. Such lawsuits are not unusual when stocks drop sharply in a short period of time and are likely of no concern to investors. These lawsuits have also included companies such asCloverHealth(NASDAQ:CLOV), Skillz(NYSE:SKLZ), Array Technologies(NASDAQ:ARRY), etc.</p><p><blockquote>也许你已经看过关于集体诉讼的新闻（尤其是在雅虎财经上）。这些诉讼被广泛发布，以提醒投资者在近几个月股价下跌后挽回损失。当股票在短时间内大幅下跌并且投资者可能不关心时，此类诉讼并不罕见。这些诉讼还包括CloverHealth（纳斯达克：CLOV）、Skillz（纽约证券交易所：SKLZ）、Array Technologies（纳斯达克：ARRY）等公司。</blockquote></p><p> Short Interest - Still High</p><p><blockquote>空头利息——仍然很高</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/875b3fdaf74f1ef639b51d77a3aac01f\" tg-width=\"640\" tg-height=\"360\"><span>Source: Fintel</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：Fintel</span></p></blockquote></p><p></p><p> Wish has gained significant attraction from retail investors, as investors were looking for the next big short squeeze. Since most of Wish's shares have still been locked up, its exact short ratio was difficult to estimate. According to Seeking Alpha, the current short ratio stands at just 7%, but the figure is likely higher. Last week, its short interest as a percent of its equity float stood at roughly 48%, according to Bloomberg Terminal data. Other sources such as Fintel pin the current short volume at 20-30%. Now, it's difficult to give an exact estimate, but generally speaking, it's probably somewhere within this range, and many short calls are still to be covered. In the long term, the high-short interest could be an advantage, leading to a quicker acceleration if the stock begins trending upwards.</p><p><blockquote>Wish已经获得了散户投资者的巨大吸引力，因为投资者正在寻找下一次大的轧空。由于Wish的大部分股票仍被锁定，其确切的做空比率很难估计。根据Seeking Alpha的数据，目前的空头比率仅为7%，但这个数字可能会更高。根据彭博终端数据，上周其空头权益占其流通股的百分比约为48%。Fintel等其他消息来源将当前的空头量确定为20-30%。现在，很难给出一个确切的估计，但总体来说，很可能在这个范围内的某个地方，许多空头评级仍有待回补。从长远来看，高空头兴趣可能是一个优势，如果股票开始呈上升趋势，就会导致更快的加速。</blockquote></p><p> <b>The Bottom Line</b></p><p><blockquote><b>底线</b></blockquote></p><p> I believe that Wish remains one of the most underappreciated assets within e-commerce, boasting over 100 million monthly users on its platform and connecting thousands of merchants from all over the world. The mobile shopping app continues to be one of the top downloaded shopping apps in the space and has a unique value proposition, which is smarter than it appears at first sight. Moreover, its latestpartnershipwith PrestaShop will give over 300,000 merchants free access to a direct integration that connects them directly to Wish's merchant dashboard, further driving growth. While there are risks to Wish's imperfect business model, such as lagging profitability, patient investors could be rewarded mightily.</p><p><blockquote>我相信Wish仍然是电子商务中最被低估的资产之一，其平台上拥有超过1亿的月用户，并连接了来自世界各地的数千家商家。移动购物应用程序仍然是该领域下载量最高的购物应用程序之一，并具有独特的价值主张，比乍一看更智能。此外，其与PrestaShop的最新合作伙伴关系将为超过300,000家商家提供免费的直接集成，将他们直接连接到Wish的商家仪表板，从而进一步推动增长。尽管Wish不完善的商业模式存在盈利能力滞后等风险，但耐心的投资者可能会获得丰厚的回报。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://seekingalpha.com/article/4434950-wish-stock-patient-investors-could-soon-see-20-again\">seekingalpha</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://seekingalpha.com/article/4434950-wish-stock-patient-investors-could-soon-see-20-again","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148768572","content_text":"Summary\n\nWish (ContextLogic) remains one of the most underappreciated assets within e-commerce trading at just 1.3x forward EV to Sales.\nWish's latest partnership with PrestaShop will further accelerate international expansion and growth initiatives.\nWhile accurate data regarding its short interest is difficult to find as most of its float is still locked up, I estimate a short interest between 30-40%.\nI believe bear arguments including high marketing spend and stalling user numbers are already baked in the current share price.\n\nJuSun/iStock via Getty Images\nOverview\nContextLogic (WISH) has been a wild ride for shareholders, as high volatility continues to cause significant price movements in recent weeks. The e-commerce platform initially went public in December at $20 per share before surging to an all-time high of $32 in February due to a momentum-driven rally. That said, shares have steadily plunged ever since, hitting an all-time low of just $7 in June, but are now recovering swiftly after increased interest from the retail trading sector. Here, the stock is favored due to its high volatility, short interest, and enormous upside potential.\nIn this context, I believe that the high short interest has increasingly pushed shares below fair value and that patient investors could soon see $20 or more again as the company is working through logistic challenges and will soon return to economies of scale. In this regard, the e-commerce platform has a unique value proposition and is well-positioned to gain market share in a $6 trillion e-commerce industry.\nThe Digital Dollar Tree\nWish has been criticized heavily as an e-commerce platform, and I would almost argue that its image of being a third-party 'dropshipping' site for Chinese merchants has kept investors away from the stock so far. However, this may only be partially true. Essentially, Wish has inverted Amazon's(NASDAQ:AMZN)business model through low-priced (low-quality) products and sluggish delivery times that may lead to week-long delivery times. This is because Wish does not handle shipping itself, which is why it can offer these ultra-low prices of offering a hoodie for $2 plus $2 shipping.\nFrankly, Wish is still dependent on Chinese merchants, accounting for most of its product catalogs. This is unsurprising, considering that most goods are produced in China as the production costs are among the lowest in the world. Most of the goods being sold on Amazon or eBay(NASDAQ:EBAY)were also produced in China, although they earn a higher perception due to one-day delivery shipping programs or higher prices.\n\nNow, I view Wish as the digital dollar tree, where online shoppers discover items that they want, not need. In the process, customers have more patience for products and are willing to wait longer for them to arrive. Wish is working towards addressing both of these issues (quality and merchant diversification) as its platform is gaining popularity. Here, it has been investing in logistics to offer quicker delivery, demonstrated by a 275% YoY increase in logistics revenue. Since these revenues provide low margins, its overall gross margins have decreased in accordance. However, once it achieves economies of scale in the segment, margin growth should reverse and trail back towards 70%.\nIt is also addressing the second issue by continuously growing its international merchant base. Here, U.S. merchants increased by over 400% YoY, and a similar trend is to be seen in other countries. Moreover, it is growing Wish Local, a service connecting local businesses to the platform, accounting for 7% of all Wish orders. Wish local is mostly (or exclusively) available in the United States and thus increasingly mixes with other products on the website.\nSource: Sensor Tower\nI also like Wish's strategy to engage and retain users by utilizing an AI matching system that optimizes platform growth, user experience, and merchant return on investment. The strategy to create an interactive mobile shopping experience appears to be working well: Impressively, Wish gets over500,000reviews per day from users, surpassing even Amazon and other shopping sites in this regard, demonstrating just about how engaging the platform is. Around 80% of first-time shoppersreturnto buy again.\nWish is, therefore, able to establish itself in the highly competitive E-commerce market that offers a tremendous runway for growth. Currently, around 40% of the E-commerce market share is owned just by Amazon. Compared to Amazon, its TAM may be limited as it concentrates on its lower-income niche, which is how it became popular in the first place. Still, this represents a +$3 trillion market opportunity for Wish to tap into. It is also worth noting that according toreports, Amazon tried to acquire Wish for $10 billion, yet Wish rejected, believing growing the business to $100 billion in annual sales, at which point it would be valued significantly higher.\nNegative Sentiment Baked In\nWish's first two quarters have been slightly disappointing. While the company handily beat revenue estimates, the company burned through over $300 million in cash in order to invest in logistics. More importantly, however, is the fact that MAUs have dropped steadily, which the company blames on de-de-emphasizing advertising and customer acquisition as the company worked through logistics challenges it faced earlier in the year.\n\n\n\nYear\n2020\n2019\n2018\n\n\nRevenue\n$2.54B\n$1.9B\n$1.73B\n\n\nGross Profit\n$1.59B\n$1.46B\n$1.45B\n\n\nSales and Marketing\n$1.71B (+17%)\n$1.46B (-7%)\n$1.57B\n\n\nMAUs\n107M (+19%)\n90M (+10%)\n82M\n\n\nActive Buyers\n64M (+3%)\n62M (-3%)\n64M\n\n\n\n*Growth (Year-over-Year)\nThe largest bear argument against Wish is its high marketing expenses, which account for 60% of its total revenues and over 100% of its gross profits. This is totally fine unless it grows its active buyers through marketing, which unfortunately has not been the case. This is a red flag and questions the long-term sustainability of Wish's business model. However, the company has been close to being cash flow positive, and it stated it already would be profitable if it weren't for its extensive marketing expense. That said, as long as Wish acquires new MAUs and increases value through logistic services, its marketing expenses pay off in the long run. Moreover, as a percentage of total revenues, Wish's marketing expenses have dropped to 60%, down from 67% in the year prior.\nSource: Wish IR\nIn terms of the outlook, this is what the company is essentially stressing. It believes marketing expenses can decrease to 40-45%, leading to EBITDA margins of 25% at the midpoint range. If it achieves these ambitious goals (which is very well possible), its profitability margins would be similar to those of eBay or MercadoLibre(NASDAQ:MELI). In either way, Wish's business model is not perfect, but all these concerns are more than baked in its current valuation, IMO (In My Opinion).\nData byYCharts\nEven after the latest +50% rise, shares are still trailing far behind peers such as Poshmark(NASDAQ:POSH), eBay, Amazon, and (Shopify(NYSE:SHOP)). At over $3 billion estimated revenues, Wish is trading at just 1.8x Price to Sales, just half of eBay's current valuation and much lower than Poshmark. Current estimates are calling for over $6 billion in revenues by 2025 and $1 billion in free cash flow, meaning that Wish trades at just 7x free cash flow estimates, or 1 times sales. In early 2021, its P/S ratio stood closer to 5x, so there is potential for a valuation expansion.\nWhat about the Lawsuits?\nPerhaps you've seen the news (especially on Yahoo Finance) regarding the class actionlawsuits. These lawsuits are extensively posted to remind investors of recovering incurred losses after its share price dropped in recent months. Such lawsuits are not unusual when stocks drop sharply in a short period of time and are likely of no concern to investors. These lawsuits have also included companies such asCloverHealth(NASDAQ:CLOV), Skillz(NYSE:SKLZ), Array Technologies(NASDAQ:ARRY), etc.\nShort Interest - Still High\nSource: Fintel\nWish has gained significant attraction from retail investors, as investors were looking for the next big short squeeze. Since most of Wish's shares have still been locked up, its exact short ratio was difficult to estimate. According to Seeking Alpha, the current short ratio stands at just 7%, but the figure is likely higher. Last week, its short interest as a percent of its equity float stood at roughly 48%, according to Bloomberg Terminal data. Other sources such as Fintel pin the current short volume at 20-30%. Now, it's difficult to give an exact estimate, but generally speaking, it's probably somewhere within this range, and many short calls are still to be covered. In the long term, the high-short interest could be an advantage, leading to a quicker acceleration if the stock begins trending upwards.\nThe Bottom Line\nI believe that Wish remains one of the most underappreciated assets within e-commerce, boasting over 100 million monthly users on its platform and connecting thousands of merchants from all over the world. The mobile shopping app continues to be one of the top downloaded shopping apps in the space and has a unique value proposition, which is smarter than it appears at first sight. Moreover, its latestpartnershipwith PrestaShop will give over 300,000 merchants free access to a direct integration that connects them directly to Wish's merchant dashboard, further driving growth. While there are risks to Wish's imperfect business model, such as lagging profitability, patient investors could be rewarded mightily.","news_type":1,"symbols_score_info":{"WISH":0.9}},"isVote":1,"tweetType":1,"viewCount":1355,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":false}