个人中心 - 老虎社区

auntiechua

IP属地：未知

帖子 · 7帖子 · 7
关注 · 0关注 · 0
粉丝 · 0粉丝 · 0

- auntiechuaauntiechua
  ·2021-07-23
  Niceeee
  非常抱歉，此主贴已删除
  1,656 评论
  4
  分享
  举报
- auntiechuaauntiechua
  ·2021-07-19
  Nice
  Dow Jones Dives 700 Points On Covid-19 Fears; Apple, Tesla Stock Sell Off<blockquote>由于对Covid-19的担忧，道琼斯指数暴跌700点；苹果、特斯拉股票遭到抛售</blockquote>
  The Dow Jones Industrial Average dived 700 points Monday on rising Covid-19 fears. Apple and Tesla s
  Dow Jones Dives 700 Points On Covid-19 Fears; Apple, Tesla Stock Sell Off<blockquote>由于对Covid-19的担忧，道琼斯指数暴跌700点；苹果、特斯拉股票遭到抛售</blockquote>
  1,602 评论
  3
  分享
  举报
- auntiechuaauntiechua
  ·2021-07-19
  Time to rethink
  非常抱歉，此主贴已删除
  1,248 1
  1
  分享
  举报
- auntiechuaauntiechua
  ·2021-07-19
  👍🏻👍🏻
  非常抱歉，此主贴已删除
  2,364 评论
  4
  分享
  举报
- auntiechuaauntiechua
  ·2021-07-15
  💪🏼have a read
  TSMC’s Second-Quarter Profit Rises 11% on Strong Chip Demand<blockquote>芯片需求强劲台积电第二季度利润增长11%</blockquote>
  Taiwan Semiconductor Manufacturing Co. reported an 11% increase in quarterly profit, underscoring ho
  TSMC’s Second-Quarter Profit Rises 11% on Strong Chip Demand<blockquote>芯片需求强劲台积电第二季度利润增长11%</blockquote>
  1,300 评论
  点赞
  分享
  举报
- auntiechuaauntiechua
  ·2021-07-11
  A refreshing read
  The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>
  It seemed to be only a matter of time. When GameStop (ticker: GME), BlackBerry (BB), and even the de
  The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>
  2,197 评论
  2
  分享
  举报
- auntiechuaauntiechua
  ·2021-07-11
  A very interesting article and good read on the Apple battery especially for all Apple users!
  非常抱歉，此主贴已删除
  2,526 评论
  点赞
  分享
  举报
暂无关注

热议股票

{"i18n":{"language":"zh_CN"},"isCurrentUser":false,"userPageInfo":{"id":"4087128285458480","uuid":"4087128285458480","gmtCreate":1624025471756,"gmtModify":1626004348333,"name":"auntiechua","pinyin":"auntiechua","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":4,"tweetSize":7,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":null,"userBadges":[],"userBadgeCount":0,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":11,"crmLevelSwitch":0,"location":"未知","starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":175046335,"gmtCreate":1627000159127,"gmtModify":1633768955086,"author":{"id":"4087128285458480","authorId":"4087128285458480","name":"auntiechua","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087128285458480","idStr":"4087128285458480"},"themes":[],"htmlText":"Niceeee&nbsp;","listText":"Niceeee&nbsp;","text":"Niceeee","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/175046335","repostId":"2153605507","repostType":4,"isVote":1,"tweetType":1,"viewCount":1656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171385871,"gmtCreate":1626706534093,"gmtModify":1633924750797,"author":{"id":"4087128285458480","authorId":"4087128285458480","name":"auntiechua","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087128285458480","idStr":"4087128285458480"},"themes":[],"htmlText":"Nice&nbsp;","listText":"Nice&nbsp;","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/171385871","repostId":"1154863272","repostType":4,"repost":{"id":"1154863272","kind":"news","pubTimestamp":1626705014,"share":"https://www.laohu8.com/m/news/1154863272?lang=zh_CN&edition=full","pubTime":"2021-07-19 22:30","market":"us","language":"en","title":"Dow Jones Dives 700 Points On Covid-19 Fears; Apple, Tesla Stock Sell Off<blockquote>由于对Covid-19的担忧，道琼斯指数暴跌700点；苹果、特斯拉股票遭到抛售</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1154863272","media":"Investors","summary":"The Dow Jones Industrial Average dived 700 points Monday on rising Covid-19 fears. Apple and Tesla s","content":"<p>The Dow Jones Industrial Average dived 700 points Monday on rising Covid-19 fears. Apple and Tesla stock sold off in morning trade.</p><p><blockquote>由于对Covid-19的担忧加剧，道琼斯工业平均指数周一暴跌700点。苹果和特斯拉的股票在早盘交易中遭到抛售。</blockquote></p><p> Among theDow Jones leaders,<b>Apple</b>(AAPL) moved down nearly 3% Monday, while<b>Microsoft</b>(MSFT) dropped 0.7% intoday's stock market.<b>McDonald's</b>(MCD) broke out past a new buy point last week, but is back below the entry.</p><p><blockquote>在道琼斯指数的领头羊中，<b>苹果</b>(AAPL)周一下跌近3%，而<b>微软</b>(MSFT)今天股市下跌0.7%。<b>麦当劳</b>(MCD)上周突破了新的买入点，但又回到了入场点下方。</blockquote></p><p> <b>Tesla</b>(TSLA) was on track to extend a four-day losing streak, sliding about 2.5% Monday.</p><p><blockquote><b>特斯拉</b>(TSLA)有望延续四天连跌，周一下跌约2.5%。</blockquote></p><p> Among the top stocks to buy and watch,<b>Advanced Micro Devices</b>(<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and<b>BioNTech</b>(BNTX) are in or near new buy zones.</p><p><blockquote>在最值得买入和关注的股票中，<b>先进微设备公司</b>(<a href=\"https://laohu8.com/S/AMD\">AMD</a>）和<b>BioNTech</b>(BNTX)位于或靠近新购买区。</blockquote></p><p> Microsoft and Tesla areIBD Leaderboard stocks. BioNTech is anIBD SwingTraderstock.</p><p><blockquote>微软和特斯拉是IBD排行榜股票。BioNTech是一只摇摆股票。</blockquote></p><p> <b>Dow Jones Today: Covid-19 Fears</b></p><p><blockquote><b>今日道琼斯：Covid-19担忧</b></blockquote></p><p> The Dow Jones Industrial Average tumbled 2% Monday, while the S&amp;P 500 sold off 1.7%. The tech-heavy Nasdaq declined 1.55% in morning trade.</p><p><blockquote>道琼斯工业平均指数周一下跌2%，标普500下跌1.7%。以科技股为主的纳斯达克早盘下跌1.55%。</blockquote></p><p> The recent resurgence in Covid-19 cases in many parts of the world — including highly-vaccinated countries like the U.K. — could hamper economic growth. In the U.S., coronavirus cases jumped 37% over the last seven days to 203,082, according toWorldometer.</p><p><blockquote>最近世界许多地区（包括英国等疫苗接种率高的国家）的Covid-19病例死灰复燃可能会阻碍经济增长。根据Worldometer的数据，在美国，冠状病毒病例在过去七天内增加了37%，达到203,082例。</blockquote></p><p> <b>Stock Market Rally Weakens</b></p><p><blockquote><b>股市涨势减弱</b></blockquote></p><p> The S&amp;P 500 continued to pull back from record highs Monday, while the Nasdaq looked to extend a losing streak to five sessions. The Dow Jones industrials are again trying to find support around their 50-day moving average.</p><p><blockquote>标普500周一继续从历史高点回落，而纳斯达克则有望将连跌延续至五个交易日。道琼斯工业平均指数再次试图在50日移动平均线附近寻找支撑。</blockquote></p><p> Friday's Big Picturecolumn noted, \"An early rebound attempt quickly deflated into another day of losses for&nbsp;stocks today. The weakening action, not just among key indexes but also vital sectors this year, prompts a more cautious stance.\"</p><p><blockquote>周五的Big Picturecolumn指出，“今天股市的早期反弹尝试很快就陷入了又一天的下跌。今年不仅是关键指数，而且重要板块的疲软走势促使人们采取更加谨慎的立场。”</blockquote></p><p> <b>Dow Jones Stocks: McDonald's</b></p><p><blockquote><b>道琼斯股票：麦当劳</b></blockquote></p><p> Dow Jones restaurant giant McDonald's is trading below a 238.28 buy point in a flat base, according toIBD MarketSmithchart analysis, after last week's brief breakout attempt.</p><p><blockquote>根据IBD MarketSmithChart分析，在上周短暂突破尝试后，道琼斯餐饮巨头麦当劳的交易价格在持平的基础上低于238.28买入点。</blockquote></p><p> Shares were down nearly 1% Monday.</p><p><blockquote>周一股价下跌近1%。</blockquote></p><p> <b>Stocks To Buy And Watch: AMD, BioNTech</b></p><p><blockquote><b>值得购买和关注的股票：AMD、BioNTech</b></blockquote></p><p> Chip giant Advanced Micro Devices&nbsp;is tracing a&nbsp;cup with handle&nbsp;that shows a 95.54 buy point, according to&nbsp;IBD MarketSmith chart analysis. Shares dropped 0.5% Monday morning and are about 10% away from the new buy point.</p><p><blockquote>根据IBD MarketSmith图表分析，芯片巨头Advanced Micro Devices正在追踪一个带手柄的杯子，该杯子显示买入点为95.54。周一上午，股价下跌0.5%，距离新买入点约10%。</blockquote></p><p> According to&nbsp;IBD Stock Checkup,&nbsp;AMD stockshows a solid 95 out of 99IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics. AMD wasone of last week's IBD Stocks Of The Day.</p><p><blockquote>根据IBD股票检查，AMD股票的综合评级为95分（满分99IBD综合评级）。IBD综合评级识别具有强劲基本面和技术特征的股票。AMD是上周IBD当日股票之一。</blockquote></p><p> IBD Leaderboardstock and Covid-19 vaccine leader BioNTech is rebounding from its key 50-day moving average, placing the stock in a new buy area. The stock cut losses to 0.5% Monday morning.</p><p><blockquote>IBD排行榜股票和Covid-19疫苗领导者BioNTech正在从关键的50天移动平均线反弹，使该股进入新的买入区域。周一上午，该股跌幅收窄至0.5%。</blockquote></p><p> Per Leaderboard analysis, \"BioNTech is clearing a trend line following a recent pullback near 222, offering a new entry. The stock also is rebounding off its 10-week moving average. It joins Leaders as a new half-size position.\"</p><p><blockquote>根据排行榜分析，“BioNTech在最近回调至222点附近后正在清除趋势线，提供了新的入场点。该股也从10周移动平均线反弹。它加入了领导者的行列，成为新的半规模头寸。”</blockquote></p><p> BioNTech is also anIBD SwingTraderstock.</p><p><blockquote>BioNTech也是IBD SwingTraderstock。</blockquote></p><p> <b>Tesla Stock</b></p><p><blockquote><b>特斯拉股票</b></blockquote></p><p> Tesla stock skidded 2.5% Monday morning, on pace to extend a four-day losing streak. The electric-vehicle giant is again testing support around its long-term 200-day moving average. Another strong show of support at these levels would be bullish for the stock's prospects.</p><p><blockquote>特斯拉股价周一上午下跌2.5%，有望延续四天连跌。这家电动汽车巨头再次测试其长期200日移动平均线附近的支撑。这些水平的另一个强劲支撑将利好该股的前景。</blockquote></p><p> On Jan. 25, Tesla stock hit a record high at 900.40, after climbing as much as 93% from a 466 buy point in a cup with handle.</p><p><blockquote>1月25日，特斯拉股价从466点买入点上涨93%，创下900.40点的历史新高。</blockquote></p><p> <b>Dow Jones Leaders: Apple, Microsoft</b></p><p><blockquote><b>道琼斯领袖：苹果、微软</b></blockquote></p><p> Among the top&nbsp;Dow Jones stocks, Apple sold off almost 3% Monday, on pace to extend a losing streak to three sessions. The stock hit an all-time high last week at 150.00.</p><p><blockquote>在道琼斯顶级股票中，苹果周一下跌近3%，有望将连跌延续至三个交易日。该股上周创下150.00的历史新高。</blockquote></p><p> Apple stock is extended past the 5% buy zone from a 137.17 entry in a cup base, according toIBD MarketSmithchart analysis.</p><p><blockquote>根据IBD MarketSmithChart分析，苹果股票已从137.17点进入杯底，突破5%买入区域。</blockquote></p><p> Microsoft continues to trade solidly above a cup base's 263.29 buy point. Shares lost 0.7% Monday. The stock is extended above the 5% buy zone, which goes up to 276.45.</p><p><blockquote>微软继续稳定在杯底263.29买入点上方。周一股价下跌0.7%。该股延伸至5%买入区域上方，升至276.45。</blockquote></p><p></p>","source":"lsy1610449120050","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>Dow Jones Dives 700 Points On Covid-19 Fears; Apple, Tesla Stock Sell Off<blockquote>由于对Covid-19的担忧，道琼斯指数暴跌700点；苹果、特斯拉股票遭到抛售</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\">\nDow Jones Dives 700 Points On Covid-19 Fears; Apple, Tesla Stock Sell Off<blockquote>由于对Covid-19的担忧，道琼斯指数暴跌700点；苹果、特斯拉股票遭到抛售</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Investors</strong><span class=\"h-time small\">2021-07-19 22:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>The Dow Jones Industrial Average dived 700 points Monday on rising Covid-19 fears. Apple and Tesla stock sold off in morning trade.</p><p><blockquote>由于对Covid-19的担忧加剧，道琼斯工业平均指数周一暴跌700点。苹果和特斯拉的股票在早盘交易中遭到抛售。</blockquote></p><p> Among theDow Jones leaders,<b>Apple</b>(AAPL) moved down nearly 3% Monday, while<b>Microsoft</b>(MSFT) dropped 0.7% intoday's stock market.<b>McDonald's</b>(MCD) broke out past a new buy point last week, but is back below the entry.</p><p><blockquote>在道琼斯指数的领头羊中，<b>苹果</b>(AAPL)周一下跌近3%，而<b>微软</b>(MSFT)今天股市下跌0.7%。<b>麦当劳</b>(MCD)上周突破了新的买入点，但又回到了入场点下方。</blockquote></p><p> <b>Tesla</b>(TSLA) was on track to extend a four-day losing streak, sliding about 2.5% Monday.</p><p><blockquote><b>特斯拉</b>(TSLA)有望延续四天连跌，周一下跌约2.5%。</blockquote></p><p> Among the top stocks to buy and watch,<b>Advanced Micro Devices</b>(<a href=\"https://laohu8.com/S/AMD\">AMD</a>) and<b>BioNTech</b>(BNTX) are in or near new buy zones.</p><p><blockquote>在最值得买入和关注的股票中，<b>先进微设备公司</b>(<a href=\"https://laohu8.com/S/AMD\">AMD</a>）和<b>BioNTech</b>(BNTX)位于或靠近新购买区。</blockquote></p><p> Microsoft and Tesla areIBD Leaderboard stocks. BioNTech is anIBD SwingTraderstock.</p><p><blockquote>微软和特斯拉是IBD排行榜股票。BioNTech是一只摇摆股票。</blockquote></p><p> <b>Dow Jones Today: Covid-19 Fears</b></p><p><blockquote><b>今日道琼斯：Covid-19担忧</b></blockquote></p><p> The Dow Jones Industrial Average tumbled 2% Monday, while the S&amp;P 500 sold off 1.7%. The tech-heavy Nasdaq declined 1.55% in morning trade.</p><p><blockquote>道琼斯工业平均指数周一下跌2%，标普500下跌1.7%。以科技股为主的纳斯达克早盘下跌1.55%。</blockquote></p><p> The recent resurgence in Covid-19 cases in many parts of the world — including highly-vaccinated countries like the U.K. — could hamper economic growth. In the U.S., coronavirus cases jumped 37% over the last seven days to 203,082, according toWorldometer.</p><p><blockquote>最近世界许多地区（包括英国等疫苗接种率高的国家）的Covid-19病例死灰复燃可能会阻碍经济增长。根据Worldometer的数据，在美国，冠状病毒病例在过去七天内增加了37%，达到203,082例。</blockquote></p><p> <b>Stock Market Rally Weakens</b></p><p><blockquote><b>股市涨势减弱</b></blockquote></p><p> The S&amp;P 500 continued to pull back from record highs Monday, while the Nasdaq looked to extend a losing streak to five sessions. The Dow Jones industrials are again trying to find support around their 50-day moving average.</p><p><blockquote>标普500周一继续从历史高点回落，而纳斯达克则有望将连跌延续至五个交易日。道琼斯工业平均指数再次试图在50日移动平均线附近寻找支撑。</blockquote></p><p> Friday's Big Picturecolumn noted, \"An early rebound attempt quickly deflated into another day of losses for&nbsp;stocks today. The weakening action, not just among key indexes but also vital sectors this year, prompts a more cautious stance.\"</p><p><blockquote>周五的Big Picturecolumn指出，“今天股市的早期反弹尝试很快就陷入了又一天的下跌。今年不仅是关键指数，而且重要板块的疲软走势促使人们采取更加谨慎的立场。”</blockquote></p><p> <b>Dow Jones Stocks: McDonald's</b></p><p><blockquote><b>道琼斯股票：麦当劳</b></blockquote></p><p> Dow Jones restaurant giant McDonald's is trading below a 238.28 buy point in a flat base, according toIBD MarketSmithchart analysis, after last week's brief breakout attempt.</p><p><blockquote>根据IBD MarketSmithChart分析，在上周短暂突破尝试后，道琼斯餐饮巨头麦当劳的交易价格在持平的基础上低于238.28买入点。</blockquote></p><p> Shares were down nearly 1% Monday.</p><p><blockquote>周一股价下跌近1%。</blockquote></p><p> <b>Stocks To Buy And Watch: AMD, BioNTech</b></p><p><blockquote><b>值得购买和关注的股票：AMD、BioNTech</b></blockquote></p><p> Chip giant Advanced Micro Devices&nbsp;is tracing a&nbsp;cup with handle&nbsp;that shows a 95.54 buy point, according to&nbsp;IBD MarketSmith chart analysis. Shares dropped 0.5% Monday morning and are about 10% away from the new buy point.</p><p><blockquote>根据IBD MarketSmith图表分析，芯片巨头Advanced Micro Devices正在追踪一个带手柄的杯子，该杯子显示买入点为95.54。周一上午，股价下跌0.5%，距离新买入点约10%。</blockquote></p><p> According to&nbsp;IBD Stock Checkup,&nbsp;AMD stockshows a solid 95 out of 99IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics. AMD wasone of last week's IBD Stocks Of The Day.</p><p><blockquote>根据IBD股票检查，AMD股票的综合评级为95分（满分99IBD综合评级）。IBD综合评级识别具有强劲基本面和技术特征的股票。AMD是上周IBD当日股票之一。</blockquote></p><p> IBD Leaderboardstock and Covid-19 vaccine leader BioNTech is rebounding from its key 50-day moving average, placing the stock in a new buy area. The stock cut losses to 0.5% Monday morning.</p><p><blockquote>IBD排行榜股票和Covid-19疫苗领导者BioNTech正在从关键的50天移动平均线反弹，使该股进入新的买入区域。周一上午，该股跌幅收窄至0.5%。</blockquote></p><p> Per Leaderboard analysis, \"BioNTech is clearing a trend line following a recent pullback near 222, offering a new entry. The stock also is rebounding off its 10-week moving average. It joins Leaders as a new half-size position.\"</p><p><blockquote>根据排行榜分析，“BioNTech在最近回调至222点附近后正在清除趋势线，提供了新的入场点。该股也从10周移动平均线反弹。它加入了领导者的行列，成为新的半规模头寸。”</blockquote></p><p> BioNTech is also anIBD SwingTraderstock.</p><p><blockquote>BioNTech也是IBD SwingTraderstock。</blockquote></p><p> <b>Tesla Stock</b></p><p><blockquote><b>特斯拉股票</b></blockquote></p><p> Tesla stock skidded 2.5% Monday morning, on pace to extend a four-day losing streak. The electric-vehicle giant is again testing support around its long-term 200-day moving average. Another strong show of support at these levels would be bullish for the stock's prospects.</p><p><blockquote>特斯拉股价周一上午下跌2.5%，有望延续四天连跌。这家电动汽车巨头再次测试其长期200日移动平均线附近的支撑。这些水平的另一个强劲支撑将利好该股的前景。</blockquote></p><p> On Jan. 25, Tesla stock hit a record high at 900.40, after climbing as much as 93% from a 466 buy point in a cup with handle.</p><p><blockquote>1月25日，特斯拉股价从466点买入点上涨93%，创下900.40点的历史新高。</blockquote></p><p> <b>Dow Jones Leaders: Apple, Microsoft</b></p><p><blockquote><b>道琼斯领袖：苹果、微软</b></blockquote></p><p> Among the top&nbsp;Dow Jones stocks, Apple sold off almost 3% Monday, on pace to extend a losing streak to three sessions. The stock hit an all-time high last week at 150.00.</p><p><blockquote>在道琼斯顶级股票中，苹果周一下跌近3%，有望将连跌延续至三个交易日。该股上周创下150.00的历史新高。</blockquote></p><p> Apple stock is extended past the 5% buy zone from a 137.17 entry in a cup base, according toIBD MarketSmithchart analysis.</p><p><blockquote>根据IBD MarketSmithChart分析，苹果股票已从137.17点进入杯底，突破5%买入区域。</blockquote></p><p> Microsoft continues to trade solidly above a cup base's 263.29 buy point. Shares lost 0.7% Monday. The stock is extended above the 5% buy zone, which goes up to 276.45.</p><p><blockquote>微软继续稳定在杯底263.29买入点上方。周一股价下跌0.7%。该股延伸至5%买入区域上方，升至276.45。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investors.com/market-trend/stock-market-today/dow-jones-dives-on-covid-19-fears-apple-tesla-stock-sell-off/?src=A00220\">Investors</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":{"TSLA":"特斯拉","BNTX":"BioNTech SE","AAPL":"苹果",".DJI":"道琼斯","AMD":"美国超微公司","PCOM":"Points International","MCD":"麦当劳","MSFT":"微软"},"source_url":"https://www.investors.com/market-trend/stock-market-today/dow-jones-dives-on-covid-19-fears-apple-tesla-stock-sell-off/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154863272","content_text":"The Dow Jones Industrial Average dived 700 points Monday on rising Covid-19 fears. Apple and Tesla stock sold off in morning trade.\nAmong theDow Jones leaders,Apple(AAPL) moved down nearly 3% Monday, whileMicrosoft(MSFT) dropped 0.7% intoday's stock market.McDonald's(MCD) broke out past a new buy point last week, but is back below the entry.\nTesla(TSLA) was on track to extend a four-day losing streak, sliding about 2.5% Monday.\nAmong the top stocks to buy and watch,Advanced Micro Devices(AMD) andBioNTech(BNTX) are in or near new buy zones.\nMicrosoft and Tesla areIBD Leaderboard stocks. BioNTech is anIBD SwingTraderstock.\nDow Jones Today: Covid-19 Fears\nThe Dow Jones Industrial Average tumbled 2% Monday, while the S&P 500 sold off 1.7%. The tech-heavy Nasdaq declined 1.55% in morning trade.\nThe recent resurgence in Covid-19 cases in many parts of the world — including highly-vaccinated countries like the U.K. — could hamper economic growth. In the U.S., coronavirus cases jumped 37% over the last seven days to 203,082, according toWorldometer.\nStock Market Rally Weakens\nThe S&P 500 continued to pull back from record highs Monday, while the Nasdaq looked to extend a losing streak to five sessions. The Dow Jones industrials are again trying to find support around their 50-day moving average.\nFriday's Big Picturecolumn noted, \"An early rebound attempt quickly deflated into another day of losses for stocks today. The weakening action, not just among key indexes but also vital sectors this year, prompts a more cautious stance.\"\nDow Jones Stocks: McDonald's\nDow Jones restaurant giant McDonald's is trading below a 238.28 buy point in a flat base, according toIBD MarketSmithchart analysis, after last week's brief breakout attempt.\nShares were down nearly 1% Monday.\nStocks To Buy And Watch: AMD, BioNTech\nChip giant Advanced Micro Devices is tracing a cup with handle that shows a 95.54 buy point, according to IBD MarketSmith chart analysis. Shares dropped 0.5% Monday morning and are about 10% away from the new buy point.\nAccording to IBD Stock Checkup, AMD stockshows a solid 95 out of 99IBD Composite Rating. The IBD Composite Rating identifies stocks with a blend of strong fundamental and technical characteristics. AMD wasone of last week's IBD Stocks Of The Day.\nIBD Leaderboardstock and Covid-19 vaccine leader BioNTech is rebounding from its key 50-day moving average, placing the stock in a new buy area. The stock cut losses to 0.5% Monday morning.\nPer Leaderboard analysis, \"BioNTech is clearing a trend line following a recent pullback near 222, offering a new entry. The stock also is rebounding off its 10-week moving average. It joins Leaders as a new half-size position.\"\nBioNTech is also anIBD SwingTraderstock.\nTesla Stock\nTesla stock skidded 2.5% Monday morning, on pace to extend a four-day losing streak. The electric-vehicle giant is again testing support around its long-term 200-day moving average. Another strong show of support at these levels would be bullish for the stock's prospects.\nOn Jan. 25, Tesla stock hit a record high at 900.40, after climbing as much as 93% from a 466 buy point in a cup with handle.\nDow Jones Leaders: Apple, Microsoft\nAmong the top Dow Jones stocks, Apple sold off almost 3% Monday, on pace to extend a losing streak to three sessions. The stock hit an all-time high last week at 150.00.\nApple stock is extended past the 5% buy zone from a 137.17 entry in a cup base, according toIBD MarketSmithchart analysis.\nMicrosoft continues to trade solidly above a cup base's 263.29 buy point. Shares lost 0.7% Monday. The stock is extended above the 5% buy zone, which goes up to 276.45.","news_type":1,"symbols_score_info":{"BNTX":0.9,".DJI":0.9,"MCD":0.9,"PCOM":0.9,"AAPL":0.9,"AMD":0.9,"MSFT":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":1602,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171382287,"gmtCreate":1626706491649,"gmtModify":1631885481110,"author":{"id":"4087128285458480","authorId":"4087128285458480","name":"auntiechua","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087128285458480","idStr":"4087128285458480"},"themes":[],"htmlText":"Time to rethink&nbsp;","listText":"Time to rethink&nbsp;","text":"Time to rethink","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/171382287","repostId":"1133373816","repostType":4,"isVote":1,"tweetType":1,"viewCount":1248,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171386298,"gmtCreate":1626706457614,"gmtModify":1633924752524,"author":{"id":"4087128285458480","authorId":"4087128285458480","name":"auntiechua","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087128285458480","idStr":"4087128285458480"},"themes":[],"htmlText":"👍🏻👍🏻","listText":"👍🏻👍🏻","text":"👍🏻👍🏻","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/171386298","repostId":"1111084715","repostType":4,"isVote":1,"tweetType":1,"viewCount":2364,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":147954128,"gmtCreate":1626329825564,"gmtModify":1633927794769,"author":{"id":"4087128285458480","authorId":"4087128285458480","name":"auntiechua","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087128285458480","idStr":"4087128285458480"},"themes":[],"htmlText":"💪🏼have a read&nbsp;","listText":"💪🏼have a read&nbsp;","text":"💪🏼have a read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/147954128","repostId":"1113252389","repostType":4,"repost":{"id":"1113252389","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":1626327337,"share":"https://www.laohu8.com/m/news/1113252389?lang=zh_CN&edition=full","pubTime":"2021-07-15 13:35","market":"us","language":"en","title":"TSMC’s Second-Quarter Profit Rises 11% on Strong Chip Demand<blockquote>芯片需求强劲台积电第二季度利润增长11%</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1113252389","media":"Tiger Newspress","summary":"Taiwan Semiconductor Manufacturing Co. reported an 11% increase in quarterly profit, underscoring ho","content":"<p><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> Co. reported an 11% increase in quarterly profit, underscoring how the company has benefited from a global chip shortage that’s driven up orders from the automotive and other industries.</p><p><blockquote><a href=\"https://laohu8.com/S/TSM\">台积电</a>Co.报告季度利润增长11%，突显出该公司如何从全球芯片短缺中受益，这推动了汽车和其他行业的订单增加。</blockquote></p><p> Net income for the quarter ended in June rose to NT$134.4 billion ($4.8 billion), slightly below the average analyst estimate of NT$136.15 billion. Revenue came in at NT$372.15 billion based on previously released monthly sales figures.</p><p><blockquote>截至6月份的季度净利润升至新台币1,344亿元（合48亿美元），略低于分析师平均预期的1,361.5亿元。根据之前发布的月度销售数据，收入为新台币3,721.5亿元。</blockquote></p><p> While an ongoing semiconductor shortage has hampered the global economic recovery from Covid-19, suppliers like TSMC, the world’s largest contract chipmaker, are among beneficiaries as they race to fulfill orders. The Taiwanese company is also likely to get a lift from plans by <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc., its largest customer, to ready 90 million units of upgraded iPhones for the second half of this year.</p><p><blockquote>虽然持续的半导体短缺阻碍了全球经济从Covid-19中复苏，但全球最大的合同芯片制造商台积电等供应商在竞相履行订单时也是受益者之一。这家台湾公司也可能从计划中获得提振<a href=\"https://laohu8.com/S/AAPL\">苹果</a>其最大客户Inc.将在今年下半年准备9000万部升级版iPhone。</blockquote></p><p> “As TSMC will likely keep loading its capacity at extremely high utilization in upcoming quarters, we expect the strong revenue momentum to continue through end of 2021,” <a href=\"https://laohu8.com/S/C\">Citigroup</a> analyst Roland Shu wrote in a note last week. “Strong demand but limited capacity increases in the supply chain will continue to allow TSMC to best utilize its capacities and further strengthen its pricing power.”</p><p><blockquote>“由于台积电可能会在未来几个季度继续以极高的利用率装载其产能，我们预计强劲的收入势头将持续到2021年底，”<a href=\"https://laohu8.com/S/C\">花旗集团</a>分析师Roland Shu上周在一份报告中写道。“强劲的需求但供应链产能增加有限，将继续使台积电能够最好地利用其产能，并进一步加强其定价能力。”</blockquote></p><p> In early July, Daimler AG and Jaguar Land Rover warned that sales will be further curtailed by the persistent chip shortage, with the latter saying deliveries in the second quarter will be 50% worse than initially thought. The U.K. economy’s growth slowed to 0.8% in May, partly due to a 16.4% slump in the production of transport equipment triggered by a lack of semiconductors.</p><p><blockquote>7月初，戴姆勒股份公司和捷豹路虎警告称，持续的芯片短缺将进一步削减销量，后者表示第二季度的交付量将比最初想象的差50%。英国5月份经济增长放缓至0.8%，部分原因是半导体短缺导致运输设备产量下降16.4%。</blockquote></p><p> <a href=\"https://laohu8.com/S/UMC\">United Microelectronics</a> Corp., a smaller rival to TSMC, said last week that chip demand could continue to outpace supply until 2023.</p><p><blockquote><a href=\"https://laohu8.com/S/UMC\">联合微电子</a>台积电规模较小的竞争对手Corp.上周表示，芯片需求可能会继续超过供应，直到2023年。</blockquote></p><p> In response to the demand from carmakers, TSMC has said it will increase shipments to the sector. Revenue from automotive clients increased 12% from the first quarter, while high-performance computing climbed by a similar magnitude. Sales to smartphone clients, the biggest chunk of its revenue, eased 3% in the seasonally slower second quarter.</p><p><blockquote>为了应对汽车制造商的需求，台积电表示将增加对该行业的出货量。来自汽车客户的收入较第一季度增长了12%，而高性能计算也以类似的幅度攀升。智能手机客户的销售额是其收入的最大部分，在季节性放缓的第二季度下降了3%。</blockquote></p><p> Gross margin was 50%, below the roughly 51% average predicted by analysts. In early June, a cluster of Covid-19 infections at a factory in central Taiwan forced King Yuan Electronics Co., <a href=\"https://laohu8.com/S/AONE\">one</a> of the world’s leading chip-testing service providers, to shut operations temporarily. That led to minor disruptions in the Taiwanese semiconductor supply chain which many around the world rely on. TSMC said on Monday three of its employees were confirmed to have been infected, though it doesn’t see any impact on operations.</p><p><blockquote>毛利率为50%，低于分析师预测的约51%的平均水平。6月初，台湾中部一家工厂发生聚集性Covid-19感染，迫使金源电子股份有限公司(King Yuan Electronics Co.,<a href=\"https://laohu8.com/S/AONE\">一</a>全球领先的芯片测试服务提供商之一，暂时关闭运营。这导致全球许多人所依赖的台湾半导体供应链出现轻微中断。台积电周一表示，其三名员工被确认感染，但没有看到对运营有任何影响。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8972f21d044da7c44c189d05e553355d\" tg-width=\"663\" tg-height=\"440\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li>TSMC today announced consolidated <b>revenue of &nbsp;NT$372.15 billion, net income of NT$134.36 billion, and diluted earnings per share of NT$5.18(US$0.93 per ADR unit)</b> for the second quarter ended June 30, 2021.</li>  <li>Year-over-year, second quarter <b>revenue increased 19.8% while net income and diluted EPS both increased 11.2%.</b> Compared to first quarter 2021, second quarter results represented a 2.7% increase in revenue and a 3.8% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.</li>  <li>In US dollars, second quarter revenue was $13.29 billion, which increased 28.0% year-over-year and increased 2.9% from the previous quarter.</li>  <li><b>Gross margin for the quarter was 50.0%,</b> operating margin was 39.1%, and net profit margin was 36.1%.</li>  <li>In the second quarter, <b>shipments of 5-nanometer accounted for 18% of total wafer revenue; 7- nanometer accounted for 31%.</b> <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> technologies, defined as 7-nanometer and more advanced technologies, accounted for 49% of total wafer revenue.</li> </ul> <img src=\"https://static.tigerbbs.com/3f1042154c2034c25d54d740e91d9a2e\" tg-width=\"658\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>台积电今日宣布合并<b>营收3721.5亿元，净收入1343.6亿元，每股摊薄收益5.18元（每ADR单位0.93美元）</b>截至2021年6月30日的第二季度。</li><li>第二季度同比<b>收入增长19.8%，净利润和摊薄后每股收益均增长11.2%。</b>与2021年第一季度相比，第二季度业绩收入增长2.7%，净利润下降3.8%。所有数字均根据TIFRS按综合基准编制。</li><li>以美元计算，第二季度营收为132.9亿美元，同比增长28.0%，环比增长2.9%。</li><li><b>本季度毛利率为50.0%，</b>营业利润率39.1%，净利润率36.1%。</li><li>二季度，<b>5纳米出货量占晶圆总收入的18%；7纳米占31%。</b><a href=\"https://laohu8.com/S/AEIS\">先进的</a>技术，定义为7纳米及更先进的技术，占晶圆总收入的49%。</li></ul></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>TSMC’s Second-Quarter Profit Rises 11% on Strong Chip Demand<blockquote>芯片需求强劲台积电第二季度利润增长11%</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\">\nTSMC’s Second-Quarter Profit Rises 11% on Strong Chip Demand<blockquote>芯片需求强劲台积电第二季度利润增长11%</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\">2021-07-15 13:35</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p><a href=\"https://laohu8.com/S/TSM\">Taiwan Semiconductor Manufacturing</a> Co. reported an 11% increase in quarterly profit, underscoring how the company has benefited from a global chip shortage that’s driven up orders from the automotive and other industries.</p><p><blockquote><a href=\"https://laohu8.com/S/TSM\">台积电</a>Co.报告季度利润增长11%，突显出该公司如何从全球芯片短缺中受益，这推动了汽车和其他行业的订单增加。</blockquote></p><p> Net income for the quarter ended in June rose to NT$134.4 billion ($4.8 billion), slightly below the average analyst estimate of NT$136.15 billion. Revenue came in at NT$372.15 billion based on previously released monthly sales figures.</p><p><blockquote>截至6月份的季度净利润升至新台币1,344亿元（合48亿美元），略低于分析师平均预期的1,361.5亿元。根据之前发布的月度销售数据，收入为新台币3,721.5亿元。</blockquote></p><p> While an ongoing semiconductor shortage has hampered the global economic recovery from Covid-19, suppliers like TSMC, the world’s largest contract chipmaker, are among beneficiaries as they race to fulfill orders. The Taiwanese company is also likely to get a lift from plans by <a href=\"https://laohu8.com/S/AAPL\">Apple</a> Inc., its largest customer, to ready 90 million units of upgraded iPhones for the second half of this year.</p><p><blockquote>虽然持续的半导体短缺阻碍了全球经济从Covid-19中复苏，但全球最大的合同芯片制造商台积电等供应商在竞相履行订单时也是受益者之一。这家台湾公司也可能从计划中获得提振<a href=\"https://laohu8.com/S/AAPL\">苹果</a>其最大客户Inc.将在今年下半年准备9000万部升级版iPhone。</blockquote></p><p> “As TSMC will likely keep loading its capacity at extremely high utilization in upcoming quarters, we expect the strong revenue momentum to continue through end of 2021,” <a href=\"https://laohu8.com/S/C\">Citigroup</a> analyst Roland Shu wrote in a note last week. “Strong demand but limited capacity increases in the supply chain will continue to allow TSMC to best utilize its capacities and further strengthen its pricing power.”</p><p><blockquote>“由于台积电可能会在未来几个季度继续以极高的利用率装载其产能，我们预计强劲的收入势头将持续到2021年底，”<a href=\"https://laohu8.com/S/C\">花旗集团</a>分析师Roland Shu上周在一份报告中写道。“强劲的需求但供应链产能增加有限，将继续使台积电能够最好地利用其产能，并进一步加强其定价能力。”</blockquote></p><p> In early July, Daimler AG and Jaguar Land Rover warned that sales will be further curtailed by the persistent chip shortage, with the latter saying deliveries in the second quarter will be 50% worse than initially thought. The U.K. economy’s growth slowed to 0.8% in May, partly due to a 16.4% slump in the production of transport equipment triggered by a lack of semiconductors.</p><p><blockquote>7月初，戴姆勒股份公司和捷豹路虎警告称，持续的芯片短缺将进一步削减销量，后者表示第二季度的交付量将比最初想象的差50%。英国5月份经济增长放缓至0.8%，部分原因是半导体短缺导致运输设备产量下降16.4%。</blockquote></p><p> <a href=\"https://laohu8.com/S/UMC\">United Microelectronics</a> Corp., a smaller rival to TSMC, said last week that chip demand could continue to outpace supply until 2023.</p><p><blockquote><a href=\"https://laohu8.com/S/UMC\">联合微电子</a>台积电规模较小的竞争对手Corp.上周表示，芯片需求可能会继续超过供应，直到2023年。</blockquote></p><p> In response to the demand from carmakers, TSMC has said it will increase shipments to the sector. Revenue from automotive clients increased 12% from the first quarter, while high-performance computing climbed by a similar magnitude. Sales to smartphone clients, the biggest chunk of its revenue, eased 3% in the seasonally slower second quarter.</p><p><blockquote>为了应对汽车制造商的需求，台积电表示将增加对该行业的出货量。来自汽车客户的收入较第一季度增长了12%，而高性能计算也以类似的幅度攀升。智能手机客户的销售额是其收入的最大部分，在季节性放缓的第二季度下降了3%。</blockquote></p><p> Gross margin was 50%, below the roughly 51% average predicted by analysts. In early June, a cluster of Covid-19 infections at a factory in central Taiwan forced King Yuan Electronics Co., <a href=\"https://laohu8.com/S/AONE\">one</a> of the world’s leading chip-testing service providers, to shut operations temporarily. That led to minor disruptions in the Taiwanese semiconductor supply chain which many around the world rely on. TSMC said on Monday three of its employees were confirmed to have been infected, though it doesn’t see any impact on operations.</p><p><blockquote>毛利率为50%，低于分析师预测的约51%的平均水平。6月初，台湾中部一家工厂发生聚集性Covid-19感染，迫使金源电子股份有限公司(King Yuan Electronics Co.,<a href=\"https://laohu8.com/S/AONE\">一</a>全球领先的芯片测试服务提供商之一，暂时关闭运营。这导致全球许多人所依赖的台湾半导体供应链出现轻微中断。台积电周一表示，其三名员工被确认感染，但没有看到对运营有任何影响。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/8972f21d044da7c44c189d05e553355d\" tg-width=\"663\" tg-height=\"440\" referrerpolicy=\"no-referrer\"></p><p><blockquote></blockquote></p><p> <ul>  <li>TSMC today announced consolidated <b>revenue of &nbsp;NT$372.15 billion, net income of NT$134.36 billion, and diluted earnings per share of NT$5.18(US$0.93 per ADR unit)</b> for the second quarter ended June 30, 2021.</li>  <li>Year-over-year, second quarter <b>revenue increased 19.8% while net income and diluted EPS both increased 11.2%.</b> Compared to first quarter 2021, second quarter results represented a 2.7% increase in revenue and a 3.8% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.</li>  <li>In US dollars, second quarter revenue was $13.29 billion, which increased 28.0% year-over-year and increased 2.9% from the previous quarter.</li>  <li><b>Gross margin for the quarter was 50.0%,</b> operating margin was 39.1%, and net profit margin was 36.1%.</li>  <li>In the second quarter, <b>shipments of 5-nanometer accounted for 18% of total wafer revenue; 7- nanometer accounted for 31%.</b> <a href=\"https://laohu8.com/S/AEIS\">Advanced</a> technologies, defined as 7-nanometer and more advanced technologies, accounted for 49% of total wafer revenue.</li> </ul> <img src=\"https://static.tigerbbs.com/3f1042154c2034c25d54d740e91d9a2e\" tg-width=\"658\" tg-height=\"434\" referrerpolicy=\"no-referrer\"></p><p><blockquote><ul><li>台积电今日宣布合并<b>营收3721.5亿元，净收入1343.6亿元，每股摊薄收益5.18元（每ADR单位0.93美元）</b>截至2021年6月30日的第二季度。</li><li>第二季度同比<b>收入增长19.8%，净利润和摊薄后每股收益均增长11.2%。</b>与2021年第一季度相比，第二季度业绩收入增长2.7%，净利润下降3.8%。所有数字均根据TIFRS按综合基准编制。</li><li>以美元计算，第二季度营收为132.9亿美元，同比增长28.0%，环比增长2.9%。</li><li><b>本季度毛利率为50.0%，</b>营业利润率39.1%，净利润率36.1%。</li><li>二季度，<b>5纳米出货量占晶圆总收入的18%；7纳米占31%。</b><a href=\"https://laohu8.com/S/AEIS\">先进的</a>技术，定义为7纳米及更先进的技术，占晶圆总收入的49%。</li></ul></blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSM":"台积电"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113252389","content_text":"Taiwan Semiconductor Manufacturing Co. reported an 11% increase in quarterly profit, underscoring how the company has benefited from a global chip shortage that’s driven up orders from the automotive and other industries.\nNet income for the quarter ended in June rose to NT$134.4 billion ($4.8 billion), slightly below the average analyst estimate of NT$136.15 billion. Revenue came in at NT$372.15 billion based on previously released monthly sales figures.\nWhile an ongoing semiconductor shortage has hampered the global economic recovery from Covid-19, suppliers like TSMC, the world’s largest contract chipmaker, are among beneficiaries as they race to fulfill orders. The Taiwanese company is also likely to get a lift from plans by Apple Inc., its largest customer, to ready 90 million units of upgraded iPhones for the second half of this year.\n“As TSMC will likely keep loading its capacity at extremely high utilization in upcoming quarters, we expect the strong revenue momentum to continue through end of 2021,” Citigroup analyst Roland Shu wrote in a note last week. “Strong demand but limited capacity increases in the supply chain will continue to allow TSMC to best utilize its capacities and further strengthen its pricing power.”\nIn early July, Daimler AG and Jaguar Land Rover warned that sales will be further curtailed by the persistent chip shortage, with the latter saying deliveries in the second quarter will be 50% worse than initially thought. The U.K. economy’s growth slowed to 0.8% in May, partly due to a 16.4% slump in the production of transport equipment triggered by a lack of semiconductors.\nUnited Microelectronics Corp., a smaller rival to TSMC, said last week that chip demand could continue to outpace supply until 2023.\nIn response to the demand from carmakers, TSMC has said it will increase shipments to the sector. Revenue from automotive clients increased 12% from the first quarter, while high-performance computing climbed by a similar magnitude. Sales to smartphone clients, the biggest chunk of its revenue, eased 3% in the seasonally slower second quarter.\nGross margin was 50%, below the roughly 51% average predicted by analysts. In early June, a cluster of Covid-19 infections at a factory in central Taiwan forced King Yuan Electronics Co., one of the world’s leading chip-testing service providers, to shut operations temporarily. That led to minor disruptions in the Taiwanese semiconductor supply chain which many around the world rely on. TSMC said on Monday three of its employees were confirmed to have been infected, though it doesn’t see any impact on operations.\n\n\nTSMC today announced consolidated revenue of  NT$372.15 billion, net income of NT$134.36 billion, and diluted earnings per share of NT$5.18(US$0.93 per ADR unit) for the second quarter ended June 30, 2021.\nYear-over-year, second quarter revenue increased 19.8% while net income and diluted EPS both increased 11.2%. Compared to first quarter 2021, second quarter results represented a 2.7% increase in revenue and a 3.8% decrease in net income. All figures were prepared in accordance with TIFRS on a consolidated basis.\nIn US dollars, second quarter revenue was $13.29 billion, which increased 28.0% year-over-year and increased 2.9% from the previous quarter.\nGross margin for the quarter was 50.0%, operating margin was 39.1%, and net profit margin was 36.1%.\nIn the second quarter, shipments of 5-nanometer accounted for 18% of total wafer revenue; 7- nanometer accounted for 31%. Advanced technologies, defined as 7-nanometer and more advanced technologies, accounted for 49% of total wafer revenue.","news_type":1,"symbols_score_info":{"TSM":0.9}},"isVote":1,"tweetType":1,"viewCount":1300,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148583229,"gmtCreate":1625988144161,"gmtModify":1633931057098,"author":{"id":"4087128285458480","authorId":"4087128285458480","name":"auntiechua","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087128285458480","idStr":"4087128285458480"},"themes":[],"htmlText":"A refreshing read&nbsp;","listText":"A refreshing read&nbsp;","text":"A refreshing read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148583229","repostId":"1112201050","repostType":4,"repost":{"id":"1112201050","kind":"news","pubTimestamp":1625966101,"share":"https://www.laohu8.com/m/news/1112201050?lang=zh_CN&edition=full","pubTime":"2021-07-11 09:15","market":"us","language":"en","title":"The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1112201050","media":"Barrons","summary":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the de","content":"<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是一条单程之旅。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚大学法学院专门研究证券市场的教授约书亚·米茨(Joshua Mitts)表示：“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人已经赔钱了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。美国证券交易委员会主席加里·詹斯勒(Gary Gensler)和一些国会议员讨论了改变市场规则，旨在增加保护零售交易者的透明度——尽管如果这些变化减慢交易速度或提高交易成本，也可能会激怒散户。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</blockquote></p><p></p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>The Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</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 Meme Stock Trade Is Far From Over. What Investors Need to Know.<blockquote>模因股票交易还远未结束。投资者需要知道的。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Barrons</strong><span class=\"h-time small\">2021-07-11 09:15</span>\n</p>\n</h4>\n</header>\n<article>\n<p>It seemed to be only a matter of time.</p><p><blockquote>这似乎只是时间问题。</blockquote></p><p> When GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?</p><p><blockquote>当游戏驿站（股票代码：GME）、黑莓（BB），甚至百视达（Blockbuster）的干涸尸体在一月份突然复活时，他们再次崩溃的时间已经在滴答作响。是几个小时、几天还是几周？</blockquote></p><p> It has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like&nbsp;Clover Health Investments(CLOV) and&nbsp;Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.</p><p><blockquote>现在已经半年了，核心“模因股”的交易水平仍然被研究它们多年的人认为令人发指。Clover Health Investments(CLOV)和Newegg Commerce(NEGG)等新名字最近出现在留言板上，它们的股票也随之上涨。</blockquote></p><p> The collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.</p><p><blockquote>数百万散户交易者——长期以来被嘲笑为“愚蠢的钱”——的集体努力成功地保持了股票的高位，并迫使反对者投降。</blockquote></p><p> That is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.</p><p><blockquote>尽管他们押注的公司几乎没有表现出业务转型或扭亏为盈的迹象，但情况确实如此。黑莓在最近一个季度烧钱，并警告其关键的网络安全部门将触及收入指引的低端；消息传出后，该股下跌，但在过去一年中仍上涨了一倍多。</blockquote></p><p> While trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in&nbsp;AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than&nbsp;Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.</p><p><blockquote>尽管大型经纪商的交易量较2月份的峰值略有下降，但仍是大流行前的两到三倍。散户交易者青睐的股票中发生了数量惊人的此类活动。例如，AMC院线控股公司(AMC)6月份股票日均交易价值达到131亿美元，超过苹果(AAPL)的95亿美元和亚马逊(AMZN)的103亿美元。</blockquote></p><p> Even as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.</p><p><blockquote>即使冠状病毒在美国消退，大多数新交易者表示，他们仍致力于他们在封锁期间学到的爱好——在一项Betterment调查中，58%的日内交易者表示，他们计划在未来进行更多交易，只有12%的人计划减少交易。业余疫情面包师已经停止揉酸面团面包；交易者只会越来越饥渴。</blockquote></p><p> A sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.</p><p><blockquote>持续的熊市会破坏这种胃口，就像互联网泡沫破裂时一样。就目前而言，下跌是持有或买入的理由。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/25a79e71371c165f9a3a5085931fc487\" tg-width=\"979\" tg-height=\"649\"></p><p><blockquote></blockquote></p><p> “I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to&nbsp;Barron’s.</p><p><blockquote>“我发现‘逢低买入’的情绪一刻也没有减弱，”与朋友在线交易的美国海军电子技术员布兰登·卢泽克(Brandon Luczek)在给《巴伦周刊》的电子邮件中写道。</blockquote></p><p> The meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.</p><p><blockquote>散户投资者交易量的增加推动了模因股票的飙升。2020年，在线经纪商以创纪录的速度签约客户，新开户人数超过1000万人。这一纪录几乎肯定会在2021年被打破。一些顶级公司透露，今年不到一半，经纪商就已经增加了超过1000万个账户。</blockquote></p><p> Meme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent&nbsp;Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.</p><p><blockquote>模因股票既是这一现象的马车，也是马。它们的价格突然飙升是由新投资者推动的，然后这种行为会推动更多的新人投资。数百万人在一月底和二月初下载了投资应用程序，只是为了享受乐趣。嘉信理财(SCHW)最近的一项调查发现，15%的当前交易者在2020年之后开始投资。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/167386c6881a258922ad62caaf7a05f4\" tg-width=\"971\" tg-height=\"644\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/8e29e3041b91070252ab9063d1a11fa2\" tg-width=\"975\" tg-height=\"642\"><img src=\"https://static.tigerbbs.com/f9cc1c0bd6368721c0eca87e25719f16\" tg-width=\"964\" tg-height=\"641\"></p><p><blockquote></blockquote></p><p> The most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.</p><p><blockquote>这一激增中最突出的参与者是Robinhood，该公司表示仅在第一季度就增加了550万个受资助账户。但它并不孤单。例如，富达宣布第一季度吸引了160万35岁以下的新客户，比去年同期增长了223%。</blockquote></p><p> Under pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.</p><p><blockquote>在Robinhood零佣金模式的压力下，所有主要经纪商都在2019年将佣金降至零。这为新的客户群体打开了闸门——他们可能没有那么多闲钱可供交易，但比前辈更加活跃和多样化。经纪人正在兑现。富达希望在投资者拥有驾驶执照之前就吸引他们，允许年仅13岁的儿童开设交易账户。Robinhood正在乘势进行首次公开募股，分析师预计其估值将超过其收入的10倍。</blockquote></p><p> These new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”</p><p><blockquote>这些新客户的行为与老客户不同。E*Trade（现归摩根士丹利(MS)所有）交易主管克里斯·拉金(Chris Larkin)表示，多年来，“ETF的吸引力很大”。但挑选个股显然是“2021年的大新闻”。</blockquote></p><p> To be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.</p><p><blockquote>可以肯定的是，股票交易所交易基金仍然表现良好，因为世界各地的投资者都押注于疫情复苏，并避免债券收益率疲软。</blockquote></p><p></p><p> But ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.</p><p><blockquote>但ETF不像股票那样点亮留言板。对于顶级品牌来说，这并不是一条单程之旅。游戏驿站确实在二月份下跌，华尔街享受了一段幸灾乐祸的时刻。这并没有持续多久。</blockquote></p><p> “Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.</p><p><blockquote>盈透证券(Interactive Brokers)首席策略师史蒂夫·索斯尼克(Steve Sosnick)写道：“就像蝉一样，模因交易者在看似地下几个月后，又以疯狂的活动回归。”索斯尼克认为，模因股票的交易往往与加密货币相反，因为随着势头的变化，它们的粉丝会从一种股票转向另一种股票。</blockquote></p><p> “I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.</p><p><blockquote>他写道：“我认为，在比特币和其他加密货币大幅调整后，模因股票重新焕发生机，这绝非巧合。”</blockquote></p><p> Sosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.</p><p><blockquote>索斯尼克认为模因股票是一个“独立的行业”，他在电脑显示器上将其与其他股票代码分开。</blockquote></p><p> Indeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.</p><p><blockquote>事实上，华尔街对模因股票革命的反应是孤立市场中专业人士认为非理性的部分。大多数卖空者不会碰这些股票，分析师也放弃了报道。</blockquote></p><p> But Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.</p><p><blockquote>但华尔街不能像蝉一样将零售大军赶走，也不能指望它们在未来17年消失。股票交易已经永久转移。今年，零售活动占股本的24%，高于2019年的15%。新信条的追随者不是愿意让华尔街管理市场的被动观察者。</blockquote></p><p> <img src=\"https://static.tigerbbs.com/710e642d3b685b74f8c9dcaf46ef3e0b\" tg-width=\"968\" tg-height=\"643\"></p><p><blockquote></blockquote></p><p> “What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”</p><p><blockquote>哥伦比亚大学法学院专门研究证券市场的教授约书亚·米茨(Joshua Mitts)表示：“这真正反映了我们看到的与个别公司的接触越来越少的趋势的逆转。”“技术正在拉近普通投资者与他或她投资的公司的距离，而这只是以新的、不可预测的形式出现。”</blockquote></p><p> The swings you get can definitely make you feel some sort of way.</p><p><blockquote>你得到的秋千肯定会让你有某种感觉。</blockquote></p><p> — Matt Kohrs, 26, who streams stock analysis daily on YouTube</p><p><blockquote>——Matt Kohrs，26岁，每天在YouTube上播放股票分析</blockquote></p><p> It is now changing the lives of those who got in early and are still riding the names higher.</p><p><blockquote>它现在正在改变那些早期进入的人的生活，并且仍然名气更高。</blockquote></p><p> Take Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming&nbsp;stock analysis on YouTube&nbsp;for seven hours a day.</p><p><blockquote>以马特·科尔斯（Matt Kohrs）为例，他很早就投资了AMC院线。今年2月，他辞去了在纽约的程序员工作，搬到了费城，并开始每天在YouTube上播放7个小时的股票分析。</blockquote></p><p> With 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.</p><p><blockquote>它在YouTube上拥有35万粉丝，正在支付账单。科尔斯表示，凭借广告和股票的收入，他可以降低与以前大致相同的工资。但他也知道，像这样依赖股票的收益与朝九晚五的工作完全不同。</blockquote></p><p> “The swings you get can definitely make you feel some sort of way,” he says.</p><p><blockquote>“你得到的挥杆肯定会让你有某种感觉，”他说。</blockquote></p><p> Companies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.</p><p><blockquote>公司也开始做出更积极的反应。他们要么拥抱他们的新主人，要么付钱给模因学家来理解新华尔街充满表情符号的语言，这样他们就可以避开他们或安抚他们。</blockquote></p><p> AMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.</p><p><blockquote>AMC甚至在过去一周取消了拟议的股权融资，因为该公司显然不喜欢Reddit人群的氛围。过去一年，AMC的股票数量已经增加了五倍。首席执行官Adam Aron在推特上表示，他看到了对他增发2500万股股票的提议“许多是，许多不是”的反应，因此该提议将被取消，而不是在本月晚些时候的AMC年会上进行投票。该公司没有回应有关如何对股东进行民意调查的问题。</blockquote></p><p> Forget the boardroom. Corporate policy is now being determined in the chat room.</p><p><blockquote>忘了会议室吧。公司政策现在正在聊天室中确定。</blockquote></p><p> Big investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.</p><p><blockquote>大投资者花更多时间跟踪社交媒体上有关股票的讨论。美国银行在今年的一项调查中发现，大约25%的机构已经在跟踪社交媒体情绪，但大约40%的机构有兴趣在未来使用它。</blockquote></p><p> In the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.</p><p><blockquote>在过去的几个月里，美国银行、摩根士丹利和摩根大通都发布了关于如何围绕散户行为进行交易的报告，得出了有些不同的结论。</blockquote></p><p> There can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.</p><p><blockquote>正如摩根士丹利所说，信号中可能存在“阿尔法”，但可能需要一些激烈的数字运算才能达到这一目标。当然，并非所有留言板上的喋喋不休都会导致价格持续上涨，而且在没有大量数据分析的情况下，零售订单流无法轻易与机构订单流分开。对于拥有工具来确定散户投资者正在买入和卖出哪些股票的投资者，摩根大通建议做多买入兴趣最高的20%的股票，做空卖出兴趣最高的20%的股票。</blockquote></p><p> For now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.</p><p><blockquote>提供跟踪社交媒体情绪产品的另类数据公司Thinknum的鲍里斯·斯皮瓦克(Boris Spiwak)表示，目前，许多购买社交媒体情绪数据的机构似乎都在试图降低风险，而不是寻找新的机会。“他们认为这几乎就像一份保险单，以限制他们的下行风险，”他说。</blockquote></p><p></p><p> For retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.</p><p><blockquote>对于散户来说，这种方法并不总是科学的。这一行动得到了社区精神的支持。其背后的力量既是经济上的，也是情感上的和道德上的。</blockquote></p><p> New investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.</p><p><blockquote>新投资者表示，他们的动机是证明自己和惩罚保守派的愿望，就像利润一样。他们互相了解市场，有时会放大或揭穿有关华尔街的阴谋论。一些人将模因股票走势与2008年金融危机引发的对大型金融机构的持续不信任联系起来。</blockquote></p><p> “Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”</p><p><blockquote>“华尔街让我们的经济陷入瘫痪，没有人因此惹上麻烦，”26岁的科尔斯说。“所以，我认为他们认为这不仅可以让我们赚钱，还可以让华尔街的这些对冲基金付钱。”</blockquote></p><p> Claire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”</p><p><blockquote>克莱尔·赫希伯格(Claire Hirschberg)是一名28岁的工会组织者，她在从朋友那里听说此事后，于1月份在Robinhood上购买了价值约50美元的游戏驿站股票。她喜欢这个想法，但真正让她兴奋的是她父亲的反应，他父亲是一位长期的资金经理。“他对我买下游戏驿站并拒绝出售感到非常生气，”她笑着说。“这让我想永远拥有它。”</blockquote></p><p> Just like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.</p><p><blockquote>就像旧华尔街有仪式和准则一样，新华尔街也有。一位新的投资银行员工很快就会知道，直到你成为合伙人后，你才会戴菲拉格慕领带。在总经理离开之前，你永远不会离开办公室，你也不会抱怨工作时间。坏人是监管者和参议员伊丽莎白·沃伦，而不是这个顺序。</blockquote></p><p> The new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.</p><p><blockquote>新的交易台——数百万零售交易者现在使用的应用程序和他们聚集的留言板——也有潜规则。公开承认经济损失是一种勇敢的行为，是内部坚韧和对集团信念的证明。你不把自己当回事，也不监管语言。你是“猿”或“弱智”大军的一员。你坚持住了崩溃，即使这意味着你可能会失去一切。坏人依次是卖空者、做市商和华尔街精英。</blockquote></p><p> The group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.</p><p><blockquote>群体行动不仅仅是为了道义上的支持。交易策略取决于人们保持购买压力以迫使空头挤压或购买看涨期权，从而触发所谓的伽马挤压。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/75d79c78a14cc8f297e17397cc54bdb5\" tg-width=\"1260\" tg-height=\"840\"><span>Keith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.</span></p><p><blockquote><p class=\"t-img-caption\"><span>基思·吉尔(Keith Gill)二月份几乎出现在众议院金融服务委员会听证会上，成为Reddit零售交易员大军的代言人，推动游戏驿站股价走高。</span></p></blockquote></p><p> Many short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.</p><p><blockquote>许多卖空者表示，他们不会再碰这些股票了。但显然，其他人并没有采纳这一建议，而是通过反复做空股票来为模因运动提供氧气。6月中旬，AMC的空头利息占该股流通量的17%，低于1月份的28%，但幅度不大。</blockquote></p><p> As the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”</p><p><blockquote>随着价格的上涨，空头们也身不由己。Wedbush Securities分析师Michael Pachter表示，他们开始“流口水，耳朵里冒出火焰”，多年来一直关注游戏驿站。“让我有点震惊的是精神错乱的定义，即一遍又一遍地做同样的事情，每次都希望有不同的结果，而空头不断回来，”他说。“[游戏驿站公牛]基思·吉尔和他的Reddit攻略不断挤压他们，而且它一直在发挥作用。”</blockquote></p><p> To beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath &amp; Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.</p><p><blockquote>为了击败卖空者，Reddit人群需要团结一致，但社区有时会出现裂痕。拥有最坚定粉丝群的两只模因股票——游戏驿站和AMC——仍然拥有庞大的核心信徒大军，他们似乎不容易动摇。但其他名字似乎有更多善变的支持者。几只陷入迷因疯狂的股票已经暴跌。Bed Bath&amp;Beyond(BBBY)在1月底和6月初两次飙升，但现在的交易价格仅略高于1月中旬的水平。在上涨期间买入的人已经赔钱了。</blockquote></p><p> Distrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.</p><p><blockquote>不信任已经蔓延，一些交易员担心wallstreetbets——最初引发游戏驿站狂热的Reddit留言板——发展如此之快，以至于失去了最初的精神，并可能变得容易受到操纵。一些人已经转移到其他留言板，如r/superstonk，希望恢复旧社区的风味。</blockquote></p><p> Travis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.</p><p><blockquote>社交媒体跟踪公司Hype Equity的创始人特拉维斯·雷尔(Travis Rehl)表示，他试图将可能的操纵者与更有机的投资者情绪区分开来。他说，炒作股权通常是由代表网上谈论的公司的公关公司雇佣的。现在，他看到越来越多的股票突然出现在留言板上，收到积极的议论，然后消失。</blockquote></p><p></p><p> “It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from&nbsp;Barron’s&nbsp;for comment.</p><p><blockquote>“这引发了人们对什么是真正的讨论与什么是某人只是想炒作的讨论的质疑，”他说。wallstreetbets的版主禁止在该平台上进行市场操纵，Rehl表示，他们似乎正在努力监管错误信息。主持人没有回应《巴伦周刊》的置评请求。</blockquote></p><p> “If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.</p><p><blockquote>索斯尼克表示：“如果你能制造足够的轰动效应，让股票在短时间内上涨10%、20%甚至50%，那么就有巨大的动力这样做。”</blockquote></p><p> The Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.</p><p><blockquote>证券交易委员会正在留言板上关注有趣的事情。美国证券交易委员会主席加里·詹斯勒(Gary Gensler)和一些国会议员讨论了改变市场规则，旨在增加保护零售交易者的透明度——尽管如果这些变化减慢交易速度或提高交易成本，也可能会激怒散户。</blockquote></p><p> Regulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”</p><p><blockquote>监管并不是唯一可能抑制这一趋势的因素。fintech Betterment行为金融和投资副总裁丹·伊根(Dan Egan)认为，这一势头可能会在9月份失去动力。即使是“猿”也有责任。“孩子们开始回到学校；父母可以再次自由地去工作，”他说。“那是下一次从房间里抽出一些氧气的时候。”</blockquote></p><p> Traditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.</p><p><blockquote>传统投资者可能会倾向于将整个现象视为由封锁和免费政府资金激发的暂时疯狂。但那将是一个错误。如果零佣金经纪公司和游戏驿站的乐趣打破了数百万新投资者开户的障碍，这几乎肯定是一件好事，只要大多数人用他们并不立即需要的钱下注。许多新零售交易员表示，他们正在自学如何交易，并已开始分散持股。</blockquote></p><p> In one form or another, this is the future client base of Wall Street.</p><p><blockquote>以这样或那样的形式，这就是华尔街未来的客户群。</blockquote></p><p> Arizona State University professor Hendrik Bessembinder published groundbreaking&nbsp;research&nbsp;in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.</p><p><blockquote>亚利桑那州立大学教授Hendrik Bessembinder在2018年发表了开创性的研究，发现“在随机选择的月份随机选择的股票更有可能亏损而不是赚钱。”简而言之，挑选单一股票并持有集中的投资组合往往是一种失败的策略。</blockquote></p><p> Even so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”</p><p><blockquote>即便如此，他还是受到了新一波交易的鼓舞。“我欢迎零售交易的增加，以及股票市场是一个广泛参与的地方的想法，”贝森宾德说。“经济学家不能告诉人们他们不应该找点乐子。”</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO\">Barrons</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":{"NEGG":"Newegg Comm Inc.","BBBY":"Bed Bath & Beyond, Inc.","BB":"黑莓","WKHS":"Workhorse Group, Inc.","SCHW":"嘉信理财","AMC":"AMC院线","GME":"游戏驿站","CARV":"卡弗储蓄","CLOV":"Clover Health Corp"},"source_url":"https://www.barrons.com/articles/the-meme-stock-trade-is-far-from-over-what-investors-need-to-know-51625875247?mod=hp_HERO","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1112201050","content_text":"It seemed to be only a matter of time.\nWhen GameStop (ticker: GME), BlackBerry (BB), and even the desiccated carcass of Blockbuster suddenly sprang to life in January, the clock was already ticking for when they would crash again. Would it be hours, days, or weeks?\nIt has now been half a year, and the core “meme stocks” are still trading at levels considered outrageous by people who have studied them for years. New names like Clover Health Investments(CLOV) and Newegg Commerce(NEGG) have recently popped up on message boards, and their stocks have popped, too.\nThe collective efforts of millions of retail traders—long derided as “the dumb money”—have successfully held stocks aloft and forced naysayers to capitulate.\nThat is true even as the companies they are betting on have shown scant signs of transforming their businesses, or turning profits that might justify their valuations. BlackBerry burned cash in its latest quarter and warned that its key cybersecurity division would hit the low end of its revenue guidance; the stock dipped on the news but has still more than doubled in the past year.\nWhile trading volume at the big brokers has come down slightly from its February peak, it remains two to three times as high as it was before the pandemic. And a startling amount of that activity is occurring in stocks favored by retail traders. The average daily value of shares traded in AMC Entertainment Holdings(AMC), for example, reached $13.1 billion in June, more than Apple’s(AAPL) $9.5 billion and Amazon.com’s (AMZN) $10.3 billion.\nEven as the coronavirus fades in the U.S., most new traders say they are committed to the hobby they learned during lockdown—58% of day traders in a Betterment survey said they are planning to trade even more in the future, and only 12% plan to trade less. Amateur pandemic bakers have stopped kneading sourdough loaves; traders are only getting hungrier.\nA sustained bear market would spoil such an appetite, as it did when the dot-com bubble burst. For now, dips are reasons to hold or buy.\n\n“I’ve seen that the ‘buy the dip’ sentiment hasn’t relented for a moment,” wrote Brandon Luczek, an electronics technician for the U.S. Navy who trades with friends online, in an email to Barron’s.\nThe meme stock surge has been propelled by a rise in trading by retail investors. In 2020, online brokers signed clients at a record pace, with more than 10 million people opening new accounts. That record will almost certainly be broken in 2021. Brokers had already added more than 10 million accounts less than halfway into the year, some of the top firms have disclosed.\nMeme stocks are both the cart and the horse of this phenomenon. Their sudden price spikes are driven by new investors, and then that action drives even more new people to invest. Millions of people downloaded investing apps in late January and early February just to be a part of the fun. A recent Charles Schwab(SCHW) survey found that 15% of all current traders began investing after 2020.\n\nThe most prominent player in the surge is Robinhood, which said it had added 5.5 million funded accounts in the first quarter alone. But it isn’t alone. Fidelity, for instance, announced that it had attracted 1.6 million new customers under the age of 35 in the first quarter, 223% more than a year before.\nUnder pressure from Robinhood’s zero-commission model, all of the major brokers cut commissions to zero in 2019. That opened the floodgates to a new group of customers—one that may not have as much spare cash to trade but is more active and diverse than its predecessors. And the brokers are cashing in. Fidelity is hoping to attract investors before they even have driver’s licenses, allowing children as young as 13 to open trading accounts. Robinhood is riding the momentum to an initial public offering that analysts expect to value it at more than 10 times its revenue.\nThese new customers act differently than their older peers. For years, there was a “big gravitation toward ETFs,” says Chris Larkin, head of trading at E*Trade, which is now owned by Morgan Stanley (MS). But picking single stocks is clearly “the big story of 2021.”\nTo be sure, equity exchange-traded funds are still doing well, as investors around the world bet on the pandemic recovery and avoid weak bond yields.\nBut ETFs don’t light up the message boards like stocks do. Not that it has been a one-way ride for the top names. GameStop did dip in February, and Wall Street enjoyed a moment of schadenfreude. It didn’t last.\n“Like cicadas, meme traders returned in a wild blaze of activity after being seemingly underground for several months,” wrote Steve Sosnick, chief strategist at Interactive Brokers. Sosnick believes that the meme stocks tend to trade inversely to cryptocurrencies, because their fans rotate from one to the other as the momentum shifts.\n“I don’t think it’s strictly a coincidence that meme stocks roared back to life after a significant correction in Bitcoin and other cryptocurrencies,” he wrote.\nSosnick considers meme stocks a “sector unto themselves,” one that he segregates on his computer monitor away from other stock tickers.\nIndeed, Wall Street’s reaction to the meme stock revolution has been to isolate the parts of the market that the pros deem irrational. Most short sellers won’t touch the stocks, and analysts are dropping coverage.\nBut Wall Street can’t swat the retail army away like cicadas, or count on them disappearing for the next 17 years. Stock trading has permanently shifted. This year, retail activity accounts for 24% of equity volume, up from 15% in 2019. Adherents to the new creed are not passive observers willing to let Wall Street manage the markets.\n\n“What this really reflects is a reversal of the trends that we saw toward less and less engagement with individual companies,” says Joshua Mitts, a professor at Columbia Law School specializing in securities markets. “Technology is bringing the average investor closer to the companies in which he or she invests, and that’s just taking on new and unpredictable forms.”\nThe swings you get can definitely make you feel some sort of way.\n— Matt Kohrs, 26, who streams stock analysis daily on YouTube\nIt is now changing the lives of those who got in early and are still riding the names higher.\nTake Matt Kohrs, who had invested in AMC Entertainment early. He quit his job as a programmer in New York in February, moved to Philadelphia, and started streaming stock analysis on YouTube for seven hours a day.\nWith 350,000 YouTube followers, it’s paying the bills. With his earnings from ads and from the stock, Kohrs says he can pull down roughly the same salary he made before. But he also knows that relying on earnings from stocks like this is nothing like a 9-to-5 job.\n“The swings you get can definitely make you feel some sort of way,” he says.\nCompanies are starting to react more aggressively, too. They are either embracing their new owners or paying meme-ologists to understand the emoji-filled language of the new Wall Street so they can ward them off or appease them.\nAMC even canceled a proposed equity raise this past week because the company apparently didn’t like the vibes it was getting from the Reddit crowd. AMC has already quintupled its share count over the past year. CEO Adam Aron tweeted that he had seen “many yes, many no” reactions to his proposal to issue 25 million more shares, so it will be canceled instead of being presented for a vote at AMC’s annual meeting later this month. The company did not respond to a question on how it had polled shareholders.\nForget the boardroom. Corporate policy is now being determined in the chat room.\nBig investors are spending more time tracking social-media discussions about stocks. Bank of America found in a survey this year that about 25% of institutions had already been tracking social-media sentiment, but that about 40% are interested in using it going forward.\nIn the past few months, Bank of America, Morgan Stanley, and J.P. Morgan have all produced reports on how to trade around the retail action, coming to somewhat different conclusions.\nThere can be “alpha in the signal,” as Morgan Stanley put it, but it can take some intense number-crunching to get there. Not all message-board chatter leads to sustained price gains, of course, and retail order flow cannot easily be separated from institutional flow without substantial data analysis. For investors with the tools to pinpoint which stocks retail investors are buying and which they are selling, J.P. Morgan suggests going long on the 20% of stocks with the most buying interest and short on the top 20% in selling interest.\nFor now, many of the institutions buying data on social-media sentiment appear to be trying to reduce their risks, as opposed to scouting new opportunities, according to Boris Spiwak of alternative data firm Thinknum, which offers products that track social-media sentiment. “They see it as almost like an insurance policy, to limit their downside risks,” he says.\nFor retail traders, the method isn’t always scientific. The action is sustained by a community ethos. And the force behind it is as much emotional and moral as financial.\nNew investors say they are motivated by a desire to prove themselves and punish the old guard as much as by profits. They learn from one another about the market, sometimes amplifying or debunking conspiracy theories about Wall Street. Some link the meme-stock movement to continued mistrust of big financial institutions stemming from the 2008 financial crisis.\n“Wall Street brought our economy to its knees, and no one ever got in trouble for it,” says the 26-year-old Kohrs. “So, I think they view this as not only can we make money, but we can also make these hedge funds on Wall Street pay.”\nClaire Hirschberg is a 28-year-old union organizer who bought about $50 worth of GameStop stock on Robinhood in January after hearing about it from friends. She liked the idea, but what really got her excited about it was the reaction of her father, a longtime money manager. “He was so mad I had bought GameStop and was refusing to sell,” she says, laughing. “And that just makes me want to hold it forever.”\nJust like old Wall Street has rituals and codes, the new one does, too. A new investment banking employee learns quickly that you don’t wear a Ferragamo tie until after you make associate. You never leave the office until the managing director does, and you don’t complain about the hours. And the bad guys are the regulators and Sen. Elizabeth Warren, and not in that order.\nThe new trading desk—the apps that millions of retail traders now use and the message boards where they congregate—have unspoken rules, too. Publicly acknowledging financial losses is a valiant act, evidence of internal fortitude and belief in the group. You don’t take yourself seriously and you don’t police language. You are part of an army of “apes” or “retards.” You hold through the crashes, even if it means you might lose everything. And the bad guys are the short sellers, the market makers, and the Wall Street elites, in that order.\nThe group action is not just for moral support. The trading strategy depends on people keeping up the buying pressure to force a short squeeze or to buy bullish options that trigger what’s known as a gamma squeeze.\nKeith Gill became the face of the Reddit army of retail traders pushing shares of GameStop higher when he appeared virtually before a House Financial Services Committee hearing in February.\nMany short sellers say they won’t touch these stocks anymore. But clearly, others aren’t taking that advice and are giving the meme movement oxygen by repeatedly betting against the stocks. AMC’s short interest was at 17% of the stock’s float in mid-June, down from 28% in January, but not by much.\nAs the price rises, the shorts can’t help themselves. They start “drooling, with flames coming out of their ears,” says Michael Pachter, a Wedbush Securities analyst who has covered GameStop for years. “What’s kind of shocked me is the definition of insanity, which is doing the same thing over and over and over again and hoping for a different outcome each time, and the shorts keep coming back,” he says. “And [GameStop bull] Keith Gill and his Reddit raiders keep squeezing them, and it keeps working.”\nTo beat the short sellers, the Reddit crowd needs to hold together, but the community has been showing cracks at times. The two meme stocks with the most determined fan bases—GameStop and AMC—still have enormous armies of core believers who do not seem easily swayed. But other names seem to have more-fickle backers. Several stocks caught up in the meme madness have come crashing down to earth.Bed Bath & Beyond(BBBY) spiked twice—in late January and early June—but now trades only slightly above its mid-January levels. People who bought during the upswings have lost money.\nDistrust has spread, and some traders worry that wallstreetbets— the original Reddit message board that inspired the GameStop frenzy—has grown so fast that it has lost its original spirit, and potentially grown vulnerable to manipulation. Some have moved to other message boards, like r/superstonk, in hopes of reclaiming the old community’s flavor.\nTravis Rehl, the founder of social-media tracking company Hype Equity, says that he tries to separate possible manipulators from more organic investor sentiment. Hype Equity is usually hired by public-relations firms representing companies that are being talked about online, he says. Now, he sees a growing trend of stocks that suddenly come up on message boards, receive positive chatter, and then disappear.\n“It’s called into question what is a true discussion versus what is something that somebody just wants to pump,” he says. The moderators of wallstreetbets forbid market manipulation on the platform, and Rehl say they appear to work hard to police misinformation. The moderators did not respond to a request from Barron’s for comment.\n“If you can create enough buzz to get a stock that goes up 10%, 20%, even 50% in a short period of time, there’s a tremendous incentive to do that,” Sosnick says.\nThe Securities and Exchange Commission is watching for funny business on the message boards. SEC Chairman Gary Gensler and some members of Congress have discussed changing market rules with the intention of adding transparency protecting retail traders—although changes could also anger the retail crowd if they slow down trading or make it more expensive.\nRegulations aren’t the only thing that could deflate this trend. Dan Egan, vice president of behavioral finance and investing at fintech Betterment, thinks the momentum may run out of steam in September. Even “apes” have responsibilities. “Kids start going back to schools; parents are free to go to work again,” he says. “That’s the next time there’s going to be some oxygen pulled out of the room.”\nTraditional investors may be tempted to write off the entire phenomenon as temporary madness inspired by lockdowns and free government money. But that would be a mistake. If zero-commission brokerages and fun with GameStop broke down barriers for millions of new investors to open accounts, it’s almost certainly a good thing, as long as most people bet with money they don’t need immediately. Many new retail traders say they are teaching themselves how to trade, and have begun to diversify their holdings.\nIn one form or another, this is the future client base of Wall Street.\nArizona State University professor Hendrik Bessembinder published groundbreaking research in 2018 that found that “a randomly selected stock in a randomly selected month is more likely to lose money than make money.” In short, picking single stocks and holding a concentrated portfolio tends to be a losing strategy.\nEven so, he’s encouraged by the new wave of trading. “I welcome the increase in retail trading, the idea of the stock market being a place with wide participation,” Bessembinder says. “Economists can’t tell people they shouldn’t get some fun.”","news_type":1,"symbols_score_info":{"WKHS":0.9,"CARV":0.9,"GME":0.9,"NEGG":0.9,"SCHW":0.9,"AMC":0.9,"BBBY":0.9,"BB":0.9,"CLOV":0.9,"MRIN":0.9}},"isVote":1,"tweetType":1,"viewCount":2197,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":148589957,"gmtCreate":1625987885679,"gmtModify":1633931058708,"author":{"id":"4087128285458480","authorId":"4087128285458480","name":"auntiechua","avatar":"https://static.tigerbbs.com/349b4414d18abd37890454c370ee081a","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"4087128285458480","idStr":"4087128285458480"},"themes":[],"htmlText":"A very interesting article and good read on the Apple battery especially for all Apple users!&nbsp;","listText":"A very interesting article and good read on the Apple battery especially for all Apple users!&nbsp;","text":"A very interesting article and good read on the Apple battery especially for all Apple users!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/148589957","repostId":"1166379040","repostType":4,"isVote":1,"tweetType":1,"viewCount":2526,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":false}