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07-11

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@TigerEvents:[10th Anniv] Discover exciting features & win a US$1,010 reward!

07-11

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everyone!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/261469441532040","isVote":1,"tweetType":1,"viewCount":172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":261142121468120,"gmtCreate":1704765764674,"gmtModify":1704765769569,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"Happy new year everyone&nbsp;","listText":"Happy new year everyone&nbsp;","text":"Happy new year everyone","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/261142121468120","isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":9057210152,"gmtCreate":1655517106176,"gmtModify":1676535655133,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$</a>Surprisingly weaker than the other growth stocks on a day when growthstocks outperformed the broader indices","listText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$</a>Surprisingly weaker than the other growth stocks on a day when growthstocks outperformed the broader indices","text":"$GitLab, Inc.(GTLB)$Surprisingly weaker than the other growth stocks on a day when growthstocks outperformed the broader indices","images":[{"img":"https://community-static.tradeup.com/news/72f4a13fe640cc8c6dca1c2b823b2881","width":"1170","height":"2292"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":71,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9057210152","isVote":1,"tweetType":1,"viewCount":1417,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9040149893,"gmtCreate":1655625116712,"gmtModify":1676535674636,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/PFE\">$Pfizer(PFE)$</a>Selling in May and going away would have done it's magic for this one. In thiskind of macro, whether growth or dividend play all gets crushed&nbsp;","listText":"<a href=\"https://ttm.financial/S/PFE\">$Pfizer(PFE)$</a>Selling in May and going away would have done it's magic for this one. In thiskind of macro, whether growth or dividend play all gets crushed&nbsp;","text":"$Pfizer(PFE)$Selling in May and going away would have done it's magic for this one. In thiskind of macro, whether growth or dividend play all gets crushed","images":[{"img":"https://community-static.tradeup.com/news/f5c1c054ff16367ad39fd147efa72190","width":"1170","height":"3365"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":66,"commentSize":0,"repostSize":1,"link":"https://ttm.financial/post/9040149893","isVote":1,"tweetType":1,"viewCount":1110,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3556582009315298","authorId":"3556582009315298","name":"doubleZ","avatar":"https://static.tigerbbs.com/90d125f550abadf09dc8f4dace09e00c","crmLevel":2,"crmLevelSwitch":0,"idStr":"3556582009315298","authorIdStr":"3556582009315298"},"content":"Why let big pharma take your money. They alreasy controlling the world","text":"Why let big pharma take your money. They alreasy controlling the world","html":"Why let big pharma take your money. They alreasy controlling the world"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9055685856,"gmtCreate":1655265092075,"gmtModify":1676535600385,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$</a>Bought too early, even with great results the bounce up was not strongenough to cover back to my break even point. Macro sentiments still jittery and it doesn't matter much when you are in an industry that is being sold off. Results do matter but matter less in a poor sentiment environment.","listText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$</a>Bought too early, even with great results the bounce up was not strongenough to cover back to my break even point. Macro sentiments still jittery and it doesn't matter much when you are in an industry that is being sold off. Results do matter but matter less in a poor sentiment environment.","text":"$GitLab, Inc.(GTLB)$Bought too early, even with great results the bounce up was not strongenough to cover back to my break even point. Macro sentiments still jittery and it doesn't matter much when you are in an industry that is being sold off. Results do matter but matter less in a poor sentiment environment.","images":[{"img":"https://community-static.tradeup.com/news/4b7d203d24d41e3eef8a0129b2ec1adf","width":"1170","height":"2292"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":24,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9055685856","isVote":1,"tweetType":1,"viewCount":767,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4091745715358870","authorId":"4091745715358870","name":"SanBarbara","avatar":"https://community-static.tradeup.com/news/3ae2c291b44b159c3d184d53d7831724","crmLevel":4,"crmLevelSwitch":0,"idStr":"4091745715358870","authorIdStr":"4091745715358870"},"content":"Urs better than mine…. I bought last time 60++ [Facepalm][Facepalm][Facepalm]","text":"Urs better than mine…. I bought last time 60++ [Facepalm][Facepalm][Facepalm]","html":"Urs better than mine…. I bought last time 60++ [Facepalm][Facepalm][Facepalm]"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9052418760,"gmtCreate":1655202512150,"gmtModify":1676535581772,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Looks weak but can trade, used to trade from 2.50 range, see if it breaks the support first","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Looks weak but can trade, used to trade from 2.50 range, see if it breaks the support first","text":"$Grab Holdings(GRAB)$Looks weak but can trade, used to trade from 2.50 range, see if it breaks the support first","images":[{"img":"https://community-static.tradeup.com/news/0470cf13b09bbdc60c28e51905782f3a","width":"1170","height":"2292"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":26,"commentSize":0,"repostSize":2,"link":"https://ttm.financial/post/9052418760","isVote":1,"tweetType":1,"viewCount":658,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9054781337,"gmtCreate":1655427854329,"gmtModify":1676535637042,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$</a>Thank you so much for your fickleness Mr Market.Nevertheless small position and some of the value paid by stock vouchers. Still money though.Remains to be seen if the markets for growth stock will consolidate while broad indices fall. As we know in huge financial crisis, the risky assets usually sell off to their lows couple of months before the broad indices make their lows.Let's have a bit of Hopium&nbsp;[Smile]&nbsp;","listText":"<a href=\"https://ttm.financial/S/GTLB\">$GitLab, Inc.(GTLB)$</a>Thank you so much for your fickleness Mr Market.Nevertheless small position and some of the value paid by stock vouchers. Still money though.Remains to be seen if the markets for growth stock will consolidate while broad indices fall. As we know in huge financial crisis, the risky assets usually sell off to their lows couple of months before the broad indices make their lows.Let's have a bit of Hopium&nbsp;[Smile]&nbsp;","text":"$GitLab, Inc.(GTLB)$Thank you so much for your fickleness Mr Market.Nevertheless small position and some of the value paid by stock vouchers. Still money though.Remains to be seen if the markets for growth stock will consolidate while broad indices fall. As we know in huge financial crisis, the risky assets usually sell off to their lows couple of months before the broad indices make their lows.Let's have a bit of Hopium [Smile]","images":[{"img":"https://community-static.tradeup.com/news/fa19383cd67eb9ce654b3a307b81cc2e","width":"1170","height":"2292"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":16,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9054781337","isVote":1,"tweetType":1,"viewCount":470,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4091745715358870","authorId":"4091745715358870","name":"SanBarbara","avatar":"https://community-static.tradeup.com/news/3ae2c291b44b159c3d184d53d7831724","crmLevel":4,"crmLevelSwitch":0,"idStr":"4091745715358870","authorIdStr":"4091745715358870"},"content":"Juz need to be patience ~ [Smile][Smile]","text":"Juz need to be patience ~ [Smile][Smile]","html":"Juz need to be patience ~ [Smile][Smile]"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9069676744,"gmtCreate":1651286005242,"gmtModify":1676534885039,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"The market will continue to stay weak before the FOMC meeting on 4-5 May. Once the Fed hikes the rate by 50bps as anticipated by the market, there should be a temporary relief to prices in the short term.However, uncertainties will be an overhanging concern arising from the China restrictions, Ukraine war and the uncertainty from future fedrate hikes.IMHO, in order for sustainable recovery forward, the most important factor is China lifting the covid restrictions to ease the supply disruptions causing the cost push inflation experienced by the world now. Ukraine war ending will have a beneficial effect as they are also a world supplier of wheat and other commodities that can drive up costs. And lastly, it will help if theFed provides a fixed dot plot schedule of hikes instead of giving vag","listText":"The market will continue to stay weak before the FOMC meeting on 4-5 May. Once the Fed hikes the rate by 50bps as anticipated by the market, there should be a temporary relief to prices in the short term.However, uncertainties will be an overhanging concern arising from the China restrictions, Ukraine war and the uncertainty from future fedrate hikes.IMHO, in order for sustainable recovery forward, the most important factor is China lifting the covid restrictions to ease the supply disruptions causing the cost push inflation experienced by the world now. Ukraine war ending will have a beneficial effect as they are also a world supplier of wheat and other commodities that can drive up costs. And lastly, it will help if theFed provides a fixed dot plot schedule of hikes instead of giving vag","text":"The market will continue to stay weak before the FOMC meeting on 4-5 May. Once the Fed hikes the rate by 50bps as anticipated by the market, there should be a temporary relief to prices in the short term.However, uncertainties will be an overhanging concern arising from the China restrictions, Ukraine war and the uncertainty from future fedrate hikes.IMHO, in order for sustainable recovery forward, the most important factor is China lifting the covid restrictions to ease the supply disruptions causing the cost push inflation experienced by the world now. Ukraine war ending will have a beneficial effect as they are also a world supplier of wheat and other commodities that can drive up costs. And lastly, it will help if theFed provides a fixed dot plot schedule of hikes instead of giving vag","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9069676744","isVote":1,"tweetType":1,"viewCount":351,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"9000000000000644","authorId":"9000000000000644","name":"CrystalRose","avatar":"https://static.tigerbbs.com/25ded438897391c2e32edc77a343fe21","crmLevel":1,"crmLevelSwitch":0,"idStr":"9000000000000644","authorIdStr":"9000000000000644"},"content":"I am still optimistic about the established companies with complete fundamentals, and their stock prices are very stable, especially Apple and Microsoft.","text":"I am still optimistic about the established companies with complete fundamentals, and their stock prices are very stable, especially Apple and Microsoft.","html":"I am still optimistic about the established companies with complete fundamentals, and their stock prices are very stable, especially Apple and Microsoft."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9040411405,"gmtCreate":1655691395007,"gmtModify":1676535686555,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Anyone notice grab isvery close to the 52 week low? It could be a chance for a technical rebounce off the low or it could very well slice through the low. Stock is moving slowly reminds me for SGX stocks but mini the fact that you can trade this with almost zero to low commissions this time round.","listText":"<a href=\"https://ttm.financial/S/GRAB\">$Grab Holdings(GRAB)$</a>Anyone notice grab isvery close to the 52 week low? It could be a chance for a technical rebounce off the low or it could very well slice through the low. Stock is moving slowly reminds me for SGX stocks but mini the fact that you can trade this with almost zero to low commissions this time round.","text":"$Grab Holdings(GRAB)$Anyone notice grab isvery close to the 52 week low? It could be a chance for a technical rebounce off the low or it could very well slice through the low. Stock is moving slowly reminds me for SGX stocks but mini the fact that you can trade this with almost zero to low commissions this time round.","images":[{"img":"https://community-static.tradeup.com/news/fbb396ddc089bca80b3d53223f0baf96","width":"1170","height":"3005"}],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9040411405","isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"4102815868703010","authorId":"4102815868703010","name":"mster","avatar":"https://community-static.tradeup.com/news/81a8fe18bd419696551df5320d8db477","crmLevel":6,"crmLevelSwitch":0,"idStr":"4102815868703010","authorIdStr":"4102815868703010"},"content":"I see Grab as a very tiny fishing boat staying afloat in this stormy and choppy sea. Its not strong enough to steer its own course, thus very much will go where the tides and weave brings it.","text":"I see Grab as a very tiny fishing boat staying afloat in this stormy and choppy sea. Its not strong enough to steer its own course, thus very much will go where the tides and weave brings it.","html":"I see Grab as a very tiny fishing boat staying afloat in this stormy and choppy sea. Its not strong enough to steer its own course, thus very much will go where the tides and weave brings it."}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":234286988533880,"gmtCreate":1698234740157,"gmtModify":1698234744047,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/234286988533880","repostId":"1170803268","repostType":2,"repost":{"id":"1170803268","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1698233888,"share":"https://ttm.financial/m/news/1170803268?lang=&edition=fundamental","pubTime":"2023-10-25 19:38","market":"us","language":"en","title":"Boeing Trims Annual 737 Delivery Target Due to Supplier Errors","url":"https://stock-news.laohu8.com/highlight/detail?id=1170803268","media":"Reuters","summary":"Boeing on Wednesday cut its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems, a temporary setback to the planemaker that is looking to recover from its own set ","content":"<html><head></head><body><p>Boeing on Wednesday cut its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems, a temporary setback to the planemaker that is looking to recover from its own set of crises.</p><p style=\"text-align: start;\">The company was aiming to deliver 400 to 450 737 jets in 2023 but was forced to temper that goal to 375 to 400 jets after two separate quality issues at Spirit, which makes fuselages for the cash-cow narrowbody jets.</p><p style=\"text-align: start;\">Despite falling short on projected 737 deliveries, Boeing stuck to its goal of generating $3 billion to $5 billion in free cash flow and intends to keep its 737 production ramp up plan intact.</p><p style=\"text-align: start;\">It also plans to meet a delivery target of at least 70 widebody 787 Dreamliners in 2023 and is transitioning from a production rate of four to five jets per month.</p><p style=\"text-align: start;\">Meanwhile, the company&#39;s ailing defense business continues to struggle with cost overruns on fixed price contracts due to inflationary pressures.</p><p style=\"text-align: start;\">It reported another quarter of negative margins due to charges on the next-generation Air Force One and an unspecified satellite program.</p><p style=\"text-align: start;\">Earlier this month, Boeing said it had expanded the scope of its inspections of a production defect arising from misdrilled holes that affect its bestselling 737 MAX 8 aircraft.</p><p style=\"text-align: start;\">&#34;I have heard those outside our company wondering if we&#39;ve lost a step. I view it as quite the opposite,&#34; said Boeing CEO Dave Calhoun in a letter to employees.</p><p style=\"text-align: start;\">&#34;Thanks to the culture we&#39;re building, we have identified non-conformances from the past that we now have the rigor to find and fix once and for all.&#34;</p><p style=\"text-align: start;\">The company delivered 70 737 aircraft in the third quarter, down 20%. Planemakers get a bulk of the payment when they handover jets, so delivery numbers are closely watched.</p><p style=\"text-align: start;\">Boeing has worked to step up deliveries to speed up its recovery from overlapping safety and pandemic-induced crises but has faced disruptions for the second year in a row, though demand for jets is booming.</p><p style=\"text-align: start;\">It was forced to cut its 2022 delivery goal due to industry-wide supply and labor shortages, some of which have abated this year.</p><p style=\"text-align: start;\">Analysts, however, remain upbeat on Boeing&#39;s prospects given the bulging jet order books that should provide a bulwark against any economic downturn.</p><p>Stocks rose 2% in premarket trading.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/beb96370d8b4398f4c0328c726259309\" tg-width=\"602\" tg-height=\"613\"/></p><p></p></body></html>","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>Boeing Trims Annual 737 Delivery Target Due to Supplier Errors</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; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBoeing Trims Annual 737 Delivery Target Due to Supplier Errors\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2023-10-25 19:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Boeing on Wednesday cut its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems, a temporary setback to the planemaker that is looking to recover from its own set of crises.</p><p style=\"text-align: start;\">The company was aiming to deliver 400 to 450 737 jets in 2023 but was forced to temper that goal to 375 to 400 jets after two separate quality issues at Spirit, which makes fuselages for the cash-cow narrowbody jets.</p><p style=\"text-align: start;\">Despite falling short on projected 737 deliveries, Boeing stuck to its goal of generating $3 billion to $5 billion in free cash flow and intends to keep its 737 production ramp up plan intact.</p><p style=\"text-align: start;\">It also plans to meet a delivery target of at least 70 widebody 787 Dreamliners in 2023 and is transitioning from a production rate of four to five jets per month.</p><p style=\"text-align: start;\">Meanwhile, the company&#39;s ailing defense business continues to struggle with cost overruns on fixed price contracts due to inflationary pressures.</p><p style=\"text-align: start;\">It reported another quarter of negative margins due to charges on the next-generation Air Force One and an unspecified satellite program.</p><p style=\"text-align: start;\">Earlier this month, Boeing said it had expanded the scope of its inspections of a production defect arising from misdrilled holes that affect its bestselling 737 MAX 8 aircraft.</p><p style=\"text-align: start;\">&#34;I have heard those outside our company wondering if we&#39;ve lost a step. I view it as quite the opposite,&#34; said Boeing CEO Dave Calhoun in a letter to employees.</p><p style=\"text-align: start;\">&#34;Thanks to the culture we&#39;re building, we have identified non-conformances from the past that we now have the rigor to find and fix once and for all.&#34;</p><p style=\"text-align: start;\">The company delivered 70 737 aircraft in the third quarter, down 20%. Planemakers get a bulk of the payment when they handover jets, so delivery numbers are closely watched.</p><p style=\"text-align: start;\">Boeing has worked to step up deliveries to speed up its recovery from overlapping safety and pandemic-induced crises but has faced disruptions for the second year in a row, though demand for jets is booming.</p><p style=\"text-align: start;\">It was forced to cut its 2022 delivery goal due to industry-wide supply and labor shortages, some of which have abated this year.</p><p style=\"text-align: start;\">Analysts, however, remain upbeat on Boeing&#39;s prospects given the bulging jet order books that should provide a bulwark against any economic downturn.</p><p>Stocks rose 2% in premarket trading.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/beb96370d8b4398f4c0328c726259309\" tg-width=\"602\" tg-height=\"613\"/></p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BA":"波音"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170803268","content_text":"Boeing on Wednesday cut its 737 delivery forecast for this year due to quality issues at supplier Spirit AeroSystems, a temporary setback to the planemaker that is looking to recover from its own set of crises.The company was aiming to deliver 400 to 450 737 jets in 2023 but was forced to temper that goal to 375 to 400 jets after two separate quality issues at Spirit, which makes fuselages for the cash-cow narrowbody jets.Despite falling short on projected 737 deliveries, Boeing stuck to its goal of generating $3 billion to $5 billion in free cash flow and intends to keep its 737 production ramp up plan intact.It also plans to meet a delivery target of at least 70 widebody 787 Dreamliners in 2023 and is transitioning from a production rate of four to five jets per month.Meanwhile, the company's ailing defense business continues to struggle with cost overruns on fixed price contracts due to inflationary pressures.It reported another quarter of negative margins due to charges on the next-generation Air Force One and an unspecified satellite program.Earlier this month, Boeing said it had expanded the scope of its inspections of a production defect arising from misdrilled holes that affect its bestselling 737 MAX 8 aircraft.\"I have heard those outside our company wondering if we've lost a step. I view it as quite the opposite,\" said Boeing CEO Dave Calhoun in a letter to employees.\"Thanks to the culture we're building, we have identified non-conformances from the past that we now have the rigor to find and fix once and for all.\"The company delivered 70 737 aircraft in the third quarter, down 20%. Planemakers get a bulk of the payment when they handover jets, so delivery numbers are closely watched.Boeing has worked to step up deliveries to speed up its recovery from overlapping safety and pandemic-induced crises but has faced disruptions for the second year in a row, though demand for jets is booming.It was forced to cut its 2022 delivery goal due to industry-wide supply and labor shortages, some of which have abated this year.Analysts, however, remain upbeat on Boeing's prospects given the bulging jet order books that should provide a bulwark against any economic downturn.Stocks rose 2% in premarket trading.","news_type":1},"isVote":1,"tweetType":1,"viewCount":167,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9044172250,"gmtCreate":1656727250170,"gmtModify":1676535884614,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"Another long weekend for the US","listText":"Another long weekend for the US","text":"Another long weekend for the US","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9044172250","repostId":"1129634609","repostType":4,"repost":{"id":"1129634609","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":1656554042,"share":"https://ttm.financial/m/news/1129634609?lang=&edition=fundamental","pubTime":"2022-06-30 09:54","market":"us","language":"en","title":"Reminder: U.S. Market Will be Closed on July 4 for Independence Day","url":"https://stock-news.laohu8.com/highlight/detail?id=1129634609","media":"Tiger Newspress","summary":"US Independence Day are around the corner. The U.S. market will be closed on Monday, 4 July 2022. Pl","content":"<html><head></head><body><p>US Independence Day are around the corner. The U.S. market will be closed on Monday, 4 July 2022. Please take note of the trading arrangements during the holiday period and make the necessary preparations in advance.<img src=\"https://static.tigerbbs.com/c3652d76f0953e0c2d017b2fd446fbca\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p></body></html>","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>Reminder: U.S. Market Will be Closed on July 4 for Independence Day</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nReminder: U.S. Market Will be Closed on July 4 for Independence Day\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2022-06-30 09:54</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>US Independence Day are around the corner. The U.S. market will be closed on Monday, 4 July 2022. Please take note of the trading arrangements during the holiday period and make the necessary preparations in advance.<img src=\"https://static.tigerbbs.com/c3652d76f0953e0c2d017b2fd446fbca\" tg-width=\"1080\" tg-height=\"1080\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","HSI":"恒生指数",".SPX":"S&P 500 Index","HSTECH":"恒生科技指数"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129634609","content_text":"US Independence Day are around the corner. The U.S. market will be closed on Monday, 4 July 2022. Please take note of the trading arrangements during the holiday period and make the necessary preparations in advance.","news_type":1},"isVote":1,"tweetType":1,"viewCount":322,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9045351235,"gmtCreate":1656564930627,"gmtModify":1676535855273,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"Thanks for the info, fortunately sold this stockbefore the short report","listText":"Thanks for the info, fortunately sold this stockbefore the short report","text":"Thanks for the info, fortunately sold this stockbefore the short report","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9045351235","repostId":"1121505043","repostType":4,"repost":{"id":"1121505043","pubTimestamp":1656561665,"share":"https://ttm.financial/m/news/1121505043?lang=&edition=fundamental","pubTime":"2022-06-30 12:01","market":"us","language":"en","title":"NIO: Questions And Challenges To The Grizzly Short-Seller Report","url":"https://stock-news.laohu8.com/highlight/detail?id=1121505043","media":"seekingalpha","summary":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is f","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Short-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.</li><li>The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.</li><li>The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly&#39;s claims of financial manipulation at NIO.</li><li>However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO&#39;s BaaS operations.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/346379c1e5a1a4087e614ef0b8a18caa\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/><span>Drew Angerer/Getty Images News</span></p><p>Grizzly Research (&#34;Grizzly&#34;) has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.</p><p>While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.</p><p><b>Accounting Crash Course: NIO’s BaaS Revenue Recognition Method</b></p><p>Through publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.</p><p>In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.</p><p>Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.</p><p>Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b533b2a1e657134b3b33f231c2b11f74\" tg-width=\"640\" tg-height=\"292\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Related Party Disclosures (IAS)</span></p><p>Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d726db76c4884663e28c157208e5cd77\" tg-width=\"640\" tg-height=\"150\" referrerpolicy=\"no-referrer\"/><span>NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)</span></p><p>In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4bf30456c1ff78b902edfa34d719f150\" tg-width=\"598\" tg-height=\"175\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p>This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.</p><p>Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.</p><p><b>Grizzly’s Core Short Thesis</b></p><p>Grizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).</p><p>In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.</p><p>In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:</p><p><b>Opportunity:</b>As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.</p><p>The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.</p><p><b>Incentive:</b>Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.</p><p>Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.</p><p><b>Rationalization:</b>The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.</p><p>NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.</p><p><b>Challenging Grizzly’s Conclusion on “Control” Established by NIO Over Weineng</b></p><p>In addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.</p><p>First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.</p><p>Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/505c64f7bc18c02131dd830e5f2a5462\" tg-width=\"640\" tg-height=\"260\" referrerpolicy=\"no-referrer\"/><span>GAAP Rules on Investments in Associates and Joint Ventures (IAS)</span></p><p>Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:</p><p>1. “<b>Power</b>” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.</p><p>2. Exposure to<i>variable returns</i>from the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.</p><p>As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.</p><p>Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established in<i>Internal Control – Integrated Framework</i>(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.</p><p>3. The acquiring party is a<i>principal</i>in the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:</p><ul><li>Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.</li><li>The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.</li><li>In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section<i>(r) Revenue recognition</i>in the 2021 20F.</li><li>As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.</li></ul><p><b>Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit Inflation</b></p><p>Grizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:</p><p><b>1. Frontloaded Revenue via Battery Sales to Weineng</b></p><p><b>Grizzly’s accusation.</b>As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.</p><p>Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.</p><p>Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21e7d58b24ac2bde6344b4206ef9be8e\" tg-width=\"592\" tg-height=\"395\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)</span></p><p>As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.</p><p>The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.</p><p>To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.</p><p><b>Issue with Grizzly’s claim.</b>In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.</p><p>While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).</p><p>When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.</p><p><b>Livy’s revised calculation of quantified impacts.</b></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/324a74d6eeeb60a4bd2da9251d4d6ed8\" tg-width=\"640\" tg-height=\"416\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Revenue and Income Variances Pertaining to NIO&#39;s Alleged Frontloading of BaaS Sales (Author)</span></p><p>The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.</p><p><b>2. Revenues from Oversupplied Batteries to Weineng</b></p><p><b>Grizzly’s accusation.</b>Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.</p><p>However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.</p><p>While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.</p><p><b>Livy’s response.</b>While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.</p><p>Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.</p><p>There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.</p><p><b>Grizzly’s calculation of quantified impacts.</b>In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a2497da8272eec2b6020c07b7ee06b1f\" tg-width=\"580\" tg-height=\"420\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)</span></p><p>In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).</p><p>In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.</p><p>Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.</p><p>We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.</p><p><b>3. Shifting Depreciation Costs</b></p><p><b>Grizzly’s Accusations.</b>Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.</p><p>Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.</p><p>Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.</p><p><b>Issue with Grizzly’s claim.</b>There are two folds to this situation:</p><p><b>1. BaaS Business Model:</b>Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0e89611dda7a7e83881997628fe7aae3\" tg-width=\"640\" tg-height=\"187\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for BaaS Business Model (Author)</span></p><p><b>2. Battery Sales Business Model:</b>in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/2203faf29e5b271342335935df358d86\" tg-width=\"389\" tg-height=\"208\" referrerpolicy=\"no-referrer\"/><span>Journal Entries for Battery Sales Business Model (Author)</span></p><p>Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.</p><p>As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.</p><p>If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.</p><p><b>Grizzly’s calculation of quantified impacts.</b>Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/96f972c8d488406cd690b0672265e62b\" tg-width=\"576\" tg-height=\"498\" referrerpolicy=\"no-referrer\"/><span>Grizzly&#39;s Computation of Total Revenue and Income Inflation (Grizzly Research)</span></p><p>As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.</p><p><b>Livy’s revised calculation of quantified impacts.</b>While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.</p><p>Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1ffe9833bb562f66e5365e077d7741d4\" tg-width=\"640\" tg-height=\"396\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/230a54833c34b3a9920a03524c28e960\" tg-width=\"640\" tg-height=\"361\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ccf9a3a0482b46cee102e66d5137113f\" tg-width=\"640\" tg-height=\"220\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Revenue Overstatement (Author)</span></p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c7ec5a61d7fd491aec81d9a48a92020\" tg-width=\"640\" tg-height=\"188\" referrerpolicy=\"no-referrer\"/><span>Livy&#39;s Computation of Alleged Overstatement in Net Income (Author)</span></p><p>Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (&lt; 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.</p><p><b>Final Thoughts</b></p><p>As discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).</p><p>While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.</p><p>At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.</p><p>This article was written by Livy Investment Research</p></body></html>","source":"seekingalpha","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>NIO: Questions And Challenges To The Grizzly Short-Seller Report</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO: Questions And Challenges To The Grizzly Short-Seller Report\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-30 12:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is ...</p>\n\n<a href=\"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","09866":"蔚来-SW","NIO.SI":"蔚来"},"source_url":"https://seekingalpha.com/article/4521053-nio-questions-and-challenges-to-the-grizzly-short-seller-report?source=content_type%3Areact%7Cfirst_level_url%3Ahome%7Csection%3Aportfolio%7Csection_asset%3Aheadlines%7Cline%3A2","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1121505043","content_text":"SummaryShort-seller Grizzly Research has released a report outlining findings of alleged fraud by NIO on Tuesday evening.The report attempted to outline how NIO, through an unconsolidated entity, is falsely inflating revenue and net income pertaining to its BaaS business.The report also accused CEO Bin Li of association with fraudulent activities in the past. The information was largely used as support for Grizzly's claims of financial manipulation at NIO.However, we believe some of the information reported by Grizzly have been exaggerated to support its short bias against NIO. We also question the validity of some of the quantified impacts that Grizzly is claiming against NIO's BaaS operations.Drew Angerer/Getty Images NewsGrizzly Research (\"Grizzly\") has released a short-seller report on NIO (NYSE:NIO) Tuesday morning, citing the Chinese electric vehicle (“EV”) company has engaged in the exaggeration of revenue and profitability via aggressive accounting methods and fraudulent means. In addition to outlining the allegedmeasures NIO has taken to falsely inflate its top- and bottom-line since 2020, Grizzly has also gathered extensive research in an attempt to character-assassinate NIO CEO Bin Li in order to “dot the i’s and cross the t’s” in its argument that the three core elements of fraud – opportunity, incentive and rationalization – exist in this situation for the EV maker.While some of the findings raised in the short-seller report may raise questions that only NIO management can answer, there are also questionable and groundless arguments made by Grizzly that could significantly mislead and deceive existing and potential investors in the EV stock. The following analysis will focus on an overview of the short-seller’s core claim against NIO – namely, false inflation of revenue and net income via aggressive accounting and potentially fraudulent means – and provide a walkthrough of questions / challenges we have over the validity of some of those claims.Accounting Crash Course: NIO’s BaaS Revenue Recognition MethodThrough publicly disclosed information within NIO’s audited annual report, Grizzly had identified that NIO is frontloading and inflating revenue recognition pertaining to its battery-as-a-service (“BaaS”) sales via an unconsolidated related party.In 2020, NIO, alongside an external consortium of investors that consist of EV battery maker CATL, Hubei Science Technology Investment Group, and a subsidiary of Fuotai Junan International Holdings Limited, have together created the joint venture “Wuhan Weineng Battery Asset Co., Ltd.,” (“Weineng”). Weineng was established in 2020, the same time when NIO’s battery lending service BaaS was introduced.Under BaaS, NIO customers are eligible for a one-time discount of up to RMB 128,000 ($19,133) on the vehicle purchase if they opt for the battery lending subscription program instead of buying the battery with the vehicle upfront. This strategy has been an effective mean in fuelling the adoption of NIO EVs in China, especially with additional government subsidies for purchases that are compatible with battery swapping technology. All sales and costs pertaining to BaaS are managed by Weineng.Now, the Weineng joint venture, in which NIO holds a 19.8% equity interest in, has been accounted for as an “equity-accounted investment” on the EV maker’s financial statements, given the definition of control under GAAP-based accounting has not been met (further discussed in later sections). Under GAAP-based accounting for related party transactions, “intragroup related party transactions and outstanding balances are eliminated, except for those between an investment entity and its subsidiaries measured at fair value through profit or loss, in the preparation of consolidated financial statements of the group”:GAAP Rules on Related Party Disclosures (IAS)Based on NIO’s disclosures within its audited annual report on its revenue recognition method pertaining to BaaS sales, the EV maker sells its battery packs to Weineng on a “back-to-back” basis when a vehicle is sold to a customer subscribed to BaaS:NIO Revenue Recognition Policy on BaaS Sales (NIO 2021 20F)In compliance with GAAP-based accounting for revenue recognition, a sale is reported to the income statement when a performance obligation is satisfied. Under NIO’s affiliation with Weineng, NIO sells Weineng a battery pack when a customer buys a vehicle with BaaS subscription. The performance obligation here is that NIO needs to provide a battery pack to Weineng, and once this is satisfied, NIO is permitted to recognize revenue on the battery sale based on a pre-contracted transaction price for the performance obligation. For NIO, the battery sold would have been previously considered as inventory. Following the recognition of the battery sale, NIO would have also recorded cost of sales pertaining to removing the battery from its inventory balance on the balance sheet:Journal Entries for Battery Sales Business Model (Author)In Weineng’s case, however, its performance obligation to customers is the provision of battery lending services on a monthly or annual basis, depending on the subscription option. As such, Weineng can only recognize monthly / annual BaaS revenue over time when it satisfies its battery lending obligation to customers. Weineng would also have to record depreciation costs over the useful life of its batteries, which are considered property, plant and equipment used in facilitating its service business:Journal Entries for BaaS Business Model (Author)This arrangement essentially allows NIO to recognize 100% of revenues pertaining to the battery pack sold to Weineng upfront upon selling a vehicle booked on BaaS on a one-for-one basis, instead of recognizing BaaS revenue and related depreciation costs on the batteries used in the BaaS business over time. The disclosed BaaS revenue recognition method for NIO also infers that the number of battery packs sold to Weineng should be equivalent to the number of BaaS subscribers as of period-end. BaaS revenues and related costs of sales (e.g. depreciation costs on batteries) recognized over time are instead in the books of Weineng, in which NIO accounts for on its balance sheet as an equity-accounted investment.Because Weineng is an equity-accounted investment and not a consolidated entity in which NIO controls under the definition set out by GAAP-based accounting, NIO is not required to perform intragroup eliminations pertaining to the related party transaction. Instead, it is required to disclose the relationship, as well as the related amounts if material. This information is disclosed in NIO’s 2021 20 Funder “Note 26. Related Party Balances and Transactions”. Revenue and income generated by Weineng are accounted for in NIO’s financial statements as “share of (loss) / income of equity investees” pro-rated for its non-controlling interest.Grizzly’s Core Short ThesisGrizzly alleges the move is a fraudulent measure taken by NIO to “exaggerate revenue and profitability”. The short-seller has accused NIO of using the accounting “loophole” to frontload battery revenues pertaining to BaaS that should have been recognized over a course of about seven years (i.e. battery discount on BaaS vehicle purchase, divided by annual BaaS subscription fee).In addition to frontloading revenue recognition on BaaS sales, Grizzly has also identified a discrepancy between the number of active BaaS subscribers and battery packs owned by Weineng as of September 30, 2021. Grizzly found thatWeineng had ownership of 40,053 battery packs as of September 30, 2021, but only had 19,000 active BaaS subscribers during the period, which is inconsistent with NIO’s claims that it only records battery sales to Weineng on a back-to-back basis with BaaS vehicle sales. Grizzly has attributed the discrepancy as NIO’s way of artificially inflating revenues by selling more battery packs to Weineng than it needs to fulfil BaaS performance obligations.In order to support its claim that NIO is defrauding investors via the unconsolidated related party, Grizzly has also gathered additional research in an attempt to support the three key elements of the fraudulent triangle:Opportunity:As mentioned in the accounting overview section, the ownership structure between NIO and Weineng is accounted for as an equity-accounted investment, which allows NIO to bypass related party transaction eliminations on its financial statements. This accordingly provides an opportunity for NIO to artificially inflate its revenues at the group level by recording sales to the equity-accounted subsidiary, without the need to back it out at period end. Under GAAP-based accounting rules on related party transactions, NIO is required to disclose material details to the relationship, in which it has complied with.The organizational structure also provides NIO an ability to recognize BaaS revenues upfront, instead of over an extended period of time given the difference in performance obligation it owes toWeinengcompared to thoseWeineng owes to BaaS subscribers. Grizzly also claims the method has allowed NIO to bypass depreciation costs on battery assets to the tune of RMB 336 million per year.Incentive:Grizzly has gone through extensive measures to dig up evidence to support NIO has a valid incentive for exaggerating its revenue and profitability. Citing an agreement between NIO and a state-backed consortium which has invested in a wholly-owned subsidiary “NIO China”, which requires NIO to redeem the investment upon failure in meeting pre-established performance metrics, such as achieving revenues of RMB 120 billion by 2024. However, the publicly disclosed information per NIO’s regulatory filings does not specify whether the RMB 120 billion revenue performance metric is required on an annual basis or on a cumulative basis between the time at which the agreement was forged with the state-backed investment consortium and 2024.Grizzly has also inferred incentive for NIO to exaggerate its top- and bottom-line as a mean to pretty its valuation prospects, and attract investors from the public market.Rationalization:The short-seller report lacks support for how NIO tried to rationalize the alleged fraudulent reporting behaviour. However, Grizzly has proceeded to gather evidence to bolster its claim of why the likelihood of fraud at NIO is high. These include findings about NIO CEO Li’s past association with personnel that have been previously linked to high-profile fraudulent financial reporting cases like Luckin Coffee(OTCPK:LKNCY). Grizzly has also alluded to questionable behaviour by NIO CEO Li, such as pledging a NIO-affiliated subsidiary, “NIO User Trust”, in which Li personally controls to UBS AG without directly addressing the matter to shareholders. While these findings may warrant clarification from management, there is insufficient ground to warrant a fraudulent sentence to the company.NIO management has also refuted Grizzly’s claims, saying allegations outlined in the report are “without merit and contains numerous errors, unsupported speculations and misleading conclusions and interpretations”, and has committed to bolstering public disclosures going forward to protect shareholders’ interests. Nowhere has the company tried to outright rationalize fraudulent reporting.Challenging Grizzly’s Conclusion on “Control” Established by NIO Over WeinengIn addition to character assassination on Li to support its claims for fraudulent reporting behaviour at NIO, Grizzly has also attempted to conclude NIO’s control over Weineng. As mentioned in earlier sections, if NIO effectively “controls” Weineng, it would have to consolidate the investment and eliminate any earnings recorded via related party transactions.First, Grizzly has identified “conflicting disclosure” between NIO’s claim that it has “significant influence” over Weineng in one place, and NIO’s claim that it only has “limited control over the business operations” ofWeinengin another place within a same regulatory filing. However, the words “significant influence” and “control” used within NIO’s regulatory filings are defined differently under GAAP-based accounting rules from general definitions of power that everyday investors are familiar with.Significant influence is defined as “the power to participate in the financial and operating policy decisions of the investee without the power to control or jointly control those policies” under GAAP-based accounting. Significantly influence is typically established when an “entity holds, directly or indirectly, 20% or more of voting power of the investee”. NIO’s 19.8% equity interest in Weineng is sufficient to presume its “significant influence” over the investment:GAAP Rules on Investments in Associates and Joint Ventures (IAS)Pointing to our earlier reference to the definition of control established in GAAP-based accounting, the acquiring party only establishes “control” over the acquired party if it demonstrates three primary elements:1. “Power” over the acquired entity, which is defined under GAAP as a substantive right exercised by an acquirer over the acquiree for non-protective benefits (e.g. exercising rights without the need for breach of contract or majority investor support). Based on publicly disclosed information in NIO’s regulatory filings, it only holds one of nine board seats on Weineng. There is also no mention of voting agreements that would pass on majority board and/or owner voting rights to NIO. With one of nine board seats, and a 19.8% equity interest, NIO does not exhibit power over Weineng to establish control.2. Exposure tovariable returnsfrom the acquiree based on the acquirer’s involvement. NIO does not generate additional fees from Weineng based on Weineng’s performance. NIO is only exposed to Weineng’s earnings through its equity-accounted share of the investment.As for the acquirer’s involvement in interfering with returns generated from the acquiree, Grizzly has pointed to the installation of two existing NIO executives to Weineng in management roles that include “Legal Representative and Chairman” and “General Manager and Director”. However, considering NIO’s significant influence over Weineng as defined under GAAP rules explained earlier, it is not unusual for the two parties to share employees or for NIO to “participate in the financial and operating policy decisions” of Weineng through the two shared employees. As such, NIO can account for its investment inWeinengas an equity-accounted investment, as long as “control” is not established even if it has installed employees at Weineng. Based on NIO’s failure to meet criterion 1 “power”, it already fails to establish control under GAAP rules over Weineng based on the existing ownership and voting structure disclosed in regulatory filings.Grizzly has also alluded to the installation of two NIO executives in the daily operations of Weineng as a “major conflict of interest”. However, the auditor’s report per NIO’s audited 2021 20F states that “the company has maintained, in all material respects, effective internal control over financial reporting as of December 31, 2021, based on criteria established inInternal Control – Integrated Framework(2013) issued by the COSO”. The COSO framework requires that internal controls address segregation of duty requirements to ensure fair presentation of financial information without material misstatements whether due to error or fraud. As such, it is reasonable to believe that segregation of duty controls in place pertaining to the two executives’ roles in both NIO and Weineng have been tested as effective as of the reporting date.3. The acquiring party is aprincipalin the transaction, and not an agent. Under GAAP-based accounting, an agent is “primarily engaged to act on behalf and for the benefit of another party…[and] does not control an investee when it exercises decision-making rights delegated to it”. In determining whether NIO is an agent over Weineng, the i) scope of NIO’s decision-making authority over Weineng, ii) the rights held by other investors in Weineng, iii) the remuneration in which NIO is entitled to in its affiliation with Weineng, and iv) NIO’s exposure to variability of returns from its interest in Weineng must be considered:Based on the foregoing analysis, we know that NIO’s sole decision-making authority over Weineng is limited given it only holds 19.8% equity interest with one in nine board seats in the joint venture. The two NIO executives installed in the daily operations of Weineng also do not exhibit characteristics of sole control over the joint ventures’ business.The remainder of the investment consortium over Weineng holds the remaining eight of nine board seats, and 80.2% equity interest in the joint venture. There have also been no mention of signed-over voting rights by the investment consortium to NIO in publicly disclosed information that would give NIO control over Weineng.In addition to battery sales, NIO is also entitled to service revenue earned from Weineng through service agreements. NIO earns revenue for providing “battery packmonitoring, maintenance, upgrade, replacement, IT system support, etc.” to Weineng via monthly service charges. As of the reporting year ended December 31, 2021, service revenues pertaining to the service agreements between NIO and Weineng were immaterial according to disclosures in “Note 2. Summary of Significant Accounting Policies”, section(r) Revenue recognitionin the 2021 20F.As discussed in the control assessment under criterion 2, NIO’s exposure to variability of returns in its investment in Weineng is insufficient to establish control under GAAP-based accounting.Challenging Grizzly’s Quantification of NIO’s Alleged Revenue and Profit InflationGrizzly believes NIO has inflated revenue and net income by “about 10% and 95%, respectively”, via its affiliation with Weineng. Grizzly’s calculations, as well as our skepticism, is outlined as follows:1. Frontloaded Revenue via Battery Sales to WeinengGrizzly’s accusation.As discussed in the foregoing analysis, Grizzly identified that NIO has been recognizing battery revenues pertaining to BaaS upfront via its affiliation with Weineng. Instead of recognizing BaaS revenues over time when the service performance obligation is satisfied, NIO is able to recognize 100% of battery revenues sold to customers via BaaS subscriptions through the Weineng JV. Grizzly claims that this arrangement effectively allows NIO to pull forward seven years of BaaS revenue upfront.Grizzly’s calculation of quantified impacts.Considering vehicle purchase discounts ranging RMB 70,000 (70/75 kWh battery pack) to RMB 128,000 (100 kWh battery pack) upon buyer’s subscription to BaaS, Grizzly has taken the lower end of the range (i.e. RMB 70,000) as the proxy for battery pack revenues. Based on annual BaaS subscription fees at RMB 11,760 (RMB 980/mo.) for the 70 kWh battery pack, which yields a vehicle discount of RMB 70,000 with subscription to BaaS, Grizzly has assumed a BaaS revenue recognition timeline of about seven years (i.e. RMB 70,000 discount, divided by RMB 11,760 annual BaaS subscription fee, adjusted for inflation) – we consider this a reasonable assumption.Now, as of September 30, 2021, a public regulatory filing by Weineng disclosed that it had 19,000 active BaaS subscribers. 18% of its subscription base were subscribed to the RMB 1,480/mo. 100 kWh battery pack, and 82% were subscribed to the RMB 980/mo. 70/75 kWh battery pack at the time.Grizzly’s calculation of inflated revenues and income pertaining to NIO’s sale of 19,000 BaaS-related batteries to Weineng in the nine months ending September 30, 2021 is as follows:Grizzly's Computation of Inflated Revenue and Income Pertaining to Pulled Forward BaaS Sales (Grizzly Research)As of the nine months ended September 30, 2021, NIO had generated RMB 2,796 million in revenues from the sale of batteries to Weineng (full year 2021 revenues generated from Weineng: RMB 4,138 million, 11% of total NIO 2021 revenue). Based on 19,000 active BaaS subscribers, and ownership of 40,053 battery packs owned as reported by Weineng as of September 30, 2021, Grizzly estimates that only 47% of the RMB 2,796 million in revenues generated from the sale of goods to Weineng are related to “real” BaaS sales. Essentially, Grizzly claims only RMB 1,326 million of RMB 2,796 million in sales of goods to Weineng recognized on NIO’s income statement in the nine months ended September 30, 2021 are related to real BaaS battery sales.The RMB 1,326 million pertaining to 19,000 battery packs sold to Weineng for the number of active BaaS subscribers at the time is effectively the “upfront” revenue recognized by NIO, which should have been recognized over a course of seven years instead based on the estimated performance obligation timeline discussed in earlier sections. Without Weineng, NIO would have instead had to recognize BaaS revenues related to the 19,000 subscribers over time, which is equivalent to RMB 179 million in the nine month period ending September 30, 2021. This essentially means NIO had allegedly pulled forward RMB 1,147 million in revenues related to BaaS sales in the nine months ending September 30, 2021.In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,147 million in pulled forward BaaS revenues represents 4% of total revenues recognized over the nine-month reporting period.To generate the “adjusted” net income that NIO would have reported had Weineng never existed, Grizzly had removed RMB 1,147 million in pulled forward revenues pertaining to BaaS sales directly from actual reported net losses of RMB 1,874 million. This accordingly yields adjusted net losses of RMB 3,021 million for the nine months ending September 30, 2021 at NIO, or a variance of 61%.Issue with Grizzly’s claim.In Grizzly’s calculation of adjusted net losses had BaaS revenue never been pulled forward at NIO via its affiliation with Weineng, the short-seller did not add back costs of sales that NIO would have recognized when it sold the battery packs to Weineng and recorded the related revenue.While profit margins on NIO’s battery pack sales to Weineng are not disclosed, Grizzly had used 20% as a proxy, which is “consistent with the margin of an entire vehicle [considering] batteries are a cost center for all vehicles”. Using the 20% profit margin proxy on 19,000 battery pack sales to Weineng totalling RMB 1,326 million in the nine months ending September 30, 2021, NIO would have recorded related cost of sales of RMB 1,060.9 million (i.e. 0.8% cost of revenues x RMB 1,326 million battery revenues recorded on the sale of 19,000 units to Weineng in the nine months ending September 30, 2021).When Grizzly removed/pulled forward BaaS revenues of RMB 1,147 million from NIO’s actual net losses of RMB 1,874 million reported in the nine months ending September 30, 2021, Grizzly should have also added back related cost of sales totalling RMB 917.6 million in determining the adjusted net income reported.Livy’s revised calculation of quantified impacts.Livy's Computation of Revenue and Income Variances Pertaining to NIO's Alleged Frontloading of BaaS Sales (Author)The above revised net income adjustment backs out alleged pulled forward BaaS revenues by NIO through its affiliation with Weineng from actual net losses reported by NIO in the nine months ending September 30, 2021. The orange-highlighted cells represent the incremental cost of sales pertaining to pulled forward BaaS revenues that should have been added back to adjusted net income in order to represent a fair representation of NIO’s adjusted net losses for the nine months ending September 30, 2021 if Weineng never existed and the EV maker had to recognize BaaS revenues over time. This adjustment accordingly reduces the variance of 61% from Grizzly’s calculation of adjusted net losses, to 12% – a material difference that, like Grizzly is accusing NIO of doing, misleads investors on the matter discussed.2. Revenues from Oversupplied Batteries to WeinengGrizzly’s accusation.Based on NIO’s revenue recognition method on BaaS sales, the number of battery packs sold to Weineng should be equivalent to the number of vehicle buyers that have subscribed to BaaS at the time of purchase. Based on 19,000 active BaaS subscribers reported by Weineng as of September 30, 2021, it is easy to assume that NIO should have only sold 19,000 battery packs to Weineng in the nine months ending September 30, 2021 as well to comply with the EV maker’s revenue recognition method on BaaS sales outlined in its 2021 20F.However, Weineng had reported ownership of 40,053 battery packs as of September 30, 2021, which exceeds its active subscriber base of 19,000 by 21,053 units. As such, Grizzly has accused NIO of intentionally overselling battery packs to Weineng to inflate revenues.While the discrepancy is indeed a question for management, Grizzly had cited that there is no need for Weineng to hold that many additional battery packs, even for operational purposes. Grizzly had gone on to explain its field work done at NIO Power Swap stations to verify that there is no difference between BaaS battery packs owned by Weineng and battery packs used in swap stations owned by NIO. However, we believe the additional field work is a moot point, considering NIO Power Swap operations are not related to Weineng. Weineng only facilitates NIO’s BaaS battery lending business, and nothing else – Grizzly did not even have to go out of its way to check on NIO’s Power Swap stations and hold conversations with sales staff at NIO’s car centers.Livy’s response.While the number of battery packs owned by Weineng should essentially be equivalent to the number of active BaaS subscribers, there is a possibility that a total of 40,053 NIO vehicle sales between 2020 when BaaS was established and September 30, 2021 had subscribed to BaaS. Perhaps, as of reporting date on September 30, 2021, there were 21,053 BaaS subscribers that have halted monthly subscriptions, which is not surprising given the third quarter is not a typical driving season, and there is a possibility that these NIO vehicle owners did not need to use their vehicles during the period.Grizzly has also supported its claim that NIO oversupplied battery packs to Weineng to intentionally inflate revenues by saying that Weineng has no storage facility to store its 21,053 excess battery packs as of September 30, 2021. However, we do not find this surprising, as BaaS subscribers that have halted monthly subscriptions might be holding onto the emptied battery packs on consignment or have returned them to a NIO servicing center where NIO has held onto these Weineng-owned battery packs on consignment. The lack of battery pack storage facility owned by Weineng does not conclude that its ownership of the excess battery packs is fraudulent and made up.There can be many reasons why a discrepancy exists between the number of active BaaS subscribers and battery packs owned by Weineng at the end of a reporting period. The above are just two assumptions that could invalidate Grizzly’s accusation (which is also an assumption). The real answer to the discrepancy can only be explained by NIO and Weineng management.Grizzly’s calculation of quantified impacts.In determining the inflated revenue and earnings specific to the allegedly oversupplied battery packs from NIO to Weineng, Grizzly had performed the following calculations:Grizzly's Computation of Revenue and Net Income Variances Pertaining to Oversupplied Batteries (Grizzly Research)In deriving the inflated revenues related to the allegedly oversupplied battery packs, Grizzly had determined the percentage of battery packs owned by Weineng as of September 30, 2021 that were in excess to its active subscriber base as 53% (i.e. 21,053 excess battery packs, divided by 40,053 battery packs owned by Weineng as of September 30, 2021). The percentage was applied to total revenue recognized by NIO pertaining to the sale of battery packs to Weineng in the nine months ending September 30, 2021, resulting in oversold battery revenues of RMB 1,470 million (i.e. 53% oversold batteries x RMB 2,796 million in related party revenues from Weineng recorded by NIO for the nine months ending September 30, 2021).In the nine months ended September 30, 2021, NIO had reported total revenue of RMB 26,236 million and net losses of RMB 1,874 million. The RMB 1,470 million in oversold battery revenue represents 6% of total NIO revenues recognized over the nine-month reporting period.Considering Grizzly’s 20% profit margin assumption on battery pack sales as discussed in earlier sections, the oversold battery packs to Weineng would have generated net income of RMB 294 million in the nine months ending September 30, 2021. As such, backing out RMB 294 million in overstated profits back to NIO’s actual reported net losses of RMB 1,874 million in the nine-month period ending September 30, 2021 would have yield adjusted net losses of RMB 2,168 million, representing a variance of 16%.We have no issues with this calculation performed by Grizzly, other than concerns over the short-seller’s claims that these 20,053 battery packs were intentionally “oversold” by NIO to Weineng to artificially boost revenues.3. Shifting Depreciation CostsGrizzly’s Accusations.Grizzly has accused NIO of indirectly shifting depreciation costs on the battery packs sold to Weineng, saving the EV maker north of RMB 336 million in depreciation expense on an annual basis.Specifically, Grizzly has assumed a 20% profit margin on NIO’s battery sales totalling RMB 2,796 million generated from Weineng in the nine months ending September 30, 2021. This represents battery assets valued at a cost basis of RMB 2.25 billion (i.e. 80% cost x RMB 2,796 in battery sales to Weineng, adjusted for minor rounding differences) removed from the EV maker’s balance sheet over the same period.Based on the five to eight years useful life attributable to equipment, including battery packs, used in NIO’s Power Swap business as disclosed in its 2021 20F, Grizzly has assumed an annual depreciation rate of about 15% on the battery packs sold to Weineng and removed from NIO’s balance sheet in the nine months ending September 30, 2021. This is consistent with the assumed BaaS revenue recognition timeline of about seven years as discussed in earlier sections. As such, Grizzly has accused NIO of avoiding depreciation costs of RMB 336 million (i.e. 15% battery depreciation rate x RMB 2,796 million in battery pack sales to Weineng) in the nine months ending September 30, 2021. The short-seller has also alluded to the RMB 336 million as a proxy for annual depreciation costs that NIO has avoided via its arrangement with Weineng.Issue with Grizzly’s claim.There are two folds to this situation:1. BaaS Business Model:Under the BaaS business model, the battery packs are considered equipment used in facilitating a service business. As such, the related battery packs would be subjected to depreciation over its useful life. In NIO’s case, if Weineng never existed and the EV maker consolidates its BaaS business, NIO would have had to recognized BaaS revenues pertaining to the 19,000 battery packs that Grizzly has attributed to the BaaS business over seven years, and accordingly record depreciation costs on these battery packs as well over their useful lives of about seven years. As mentioned in earlier sections, the related journal entries under the BaaS business model is as follows:Journal Entries for BaaS Business Model (Author)2. Battery Sales Business Model:in the current situation where NIO has sold the battery packs to Weineng, the battery packs are considered inventory to NIO. There is no depreciation costs related to inventory under GAAP-based accounting. Instead, NIO needs to record the costs of this inventory when they are removed from its balance sheet once the sale is recognized. As mentioned in earlier sections, the related journal entries under the battery sale business model is as follows:Journal Entries for Battery Sales Business Model (Author)Now, in NIO’s current actual situation, it is engaged in a battery sales business model under its performance obligation to Weineng, while Weineng is engaged in a BaaS business model under its performance obligation to BaaS subscribers.As discussed in our first challenge to Grizzly’s calculations pertaining to pulled forward revenue on BaaS battery sales to Weineng, NIO would have recorded costs of sales pertaining to the sold battery inventory when it recognized the related revenues. And this cost of sales number, based on a 20% profit margin assumption consistent with that used by Grizzly, would have accounted for the costs of battery inventory removed from NIO’s balance sheet upon completion of the sale to Weineng. This is consistent with Grizzly’s own calculation pertaining to profit margins on the battery packs that it alleges NIO had oversupplied to Weineng, which is inclusive of cost of sales related to written off inventory incurred by NIO upon recognition of related revenues.If NIO was engaged in the BaaS business model itself, without the intervention of Weineng, it would have recognized depreciation at a rate of 15% per year on the battery packs. However, under the upfront sale of related battery packs to Weineng, NIO would have recorded related cost of sales at an upfront rate of 80% as well. So basically, instead of recording revenues and depreciation costs on battery packs over time, NIO essentially recorded revenues and battery inventory costs upfront under its current arrangement with Weineng.Grizzly’s calculation of quantified impacts.Grizzly’s accusation that NIO has overstated revenues and earnings by 10% and 95%, respectively, through its affiliation with Weineng is calculated as follows:Grizzly's Computation of Total Revenue and Income Inflation (Grizzly Research)As discussed in earlier sections, NIO’s pulled forward BaaS revenues and inflated battery sales revenues via its affiliation with Weineng represent 4% and 6% of its total revenues, respectively, recognized in the nine months ending September 30, 2021. This represents the 10% in inflated NIO revenues as Grizzly has outlined in the above calculation.Livy’s revised calculation of quantified impacts.While we have yet to reconcile the RMB 1,777 million in total inflated net income that Grizzly has accused NIO of recognizing (please let us know in comments if you know), we believe the 95% variance identified by Grizzly is not a fair presentation of the quantified impact of its core short thesis.Our calculation of the quantified impact pertaining to Grizzly’s accusations that NIO has inflated revenue and earnings through (1) pulling forward BaaS sales, and (2) oversupplying batteries to Weineng, is as follows:Livy's Computation of Alleged Overstatements Related to Alleged Frontloading of BaaS Revenue (Author)Livy's Computation of Alleged Overstatements Pertaining to Alleged Overselling of Battery Supplies (Author)Livy's Computation of Alleged Revenue Overstatement (Author)Livy's Computation of Alleged Overstatement in Net Income (Author)Under Grizzly’s accusations of inflated revenue and earnings by NIO through its affiliation with Weineng, if found valid (which we remain skeptical of), NIO would have overstated net losses in the nine months ending September 30, 2021 by 28% instead of the 95% that Grizzly alleges – a material difference that again misleads investors on the estimated quantified impact pertaining to the accusations claimed by the short-seller. The net income variance of RMB 523 million ($78 million) found in our calculation is also immaterial (< 1%) based on NIO’s market value of $58.38 billion as of September 30, 2021 and NIO’s market value of approximately $35 billion today.Final ThoughtsAs discussed in the introduction of this analysis, Grizzly had also touched on things like NIO CEO Li’s association with fraudulent personnel, the pledge of NIO User Trust to UBS AG, and conflict of interests to further support its argument that NIO is engaged in fraudulent financial reporting. However, these are groundless allegations that have yet to be substantiated to infer Li is committing fraud via NIO’s operations. While investors should always exercise professional skepticism on publicly disclosed information in regulatory filings when making investment decisions, the same skepticism should also be placed on external claims – such as those by the short-seller, commentary by external sources, and/or even commentary herein – especially if they argue that correlation = causation (e.g. Grizzly’s method in inferring that fraud at NIO is substantiated given “dirt” it has dug up on Li’s past).While we agree that there are some good takeaways from the short-seller report that may require further clarification from management, it is important to recognize and acknowledge that a lot of it might also be misleading – or in the words of Grizzly, “exaggerated”. This is also consistent with NIO’s stock performance during Tuesday and Wednesday’s session following release of the short-seller report. The stock has largely moved in consistency with the ongoing market rout, and broad-based selloff across the EV sector, with no extreme deviation due to the negative headline from Grizzly, which indicates that market participants, especially significant shareholders in NIO, are still digesting the latest external allegations.At the end of the day, NIO remains one of the most viable EV businesses in the emerging sector, with continued demand for its vehicles to support further growth over the long-run. Unlike some of the upstarts in the increasingly competitive EV landscape that have been accused of fraud, such as Nikola (NKLA), Lordstown Motors (RIDE), and Faraday Future (FFIE), NIO already operates a global business with a substantiated vehicle order book to support the bulk of its top- and bottom-line expansion, which continues to support its positive valuation prospects ahead.This article was written by Livy Investment Research","news_type":1},"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3584079457608282","authorId":"3584079457608282","name":"FGP","avatar":"https://community-static.tradeup.com/news/4f96275867e9fcc09f90747c0edcd143","crmLevel":9,"crmLevelSwitch":1,"idStr":"3584079457608282","authorIdStr":"3584079457608282"},"content":"Sold and shhh, alot of investors supporting this company’s innovation and products","text":"Sold and shhh, alot of investors supporting this company’s innovation and products","html":"Sold and shhh, alot of investors supporting this company’s innovation and products"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9041826974,"gmtCreate":1656034504698,"gmtModify":1676535755394,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"Short oil stocks or sell altogether?","listText":"Short oil stocks or sell altogether?","text":"Short oil stocks or sell altogether?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9041826974","repostId":"1142682181","repostType":4,"repost":{"id":"1142682181","pubTimestamp":1656042738,"share":"https://ttm.financial/m/news/1142682181?lang=&edition=fundamental","pubTime":"2022-06-24 11:52","market":"us","language":"en","title":"4 Overvalued Stocks to Sell in This Bear Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1142682181","media":"InvestorPlace","summary":"Tactical allocation seems to be the name of the game in this bear market. Here are four overvalued s","content":"<html><head></head><body><ul><li>Tactical allocation seems to be the name of the game in this bear market. Here are four overvalued stocks worth shorting:</li><li><b>Nvidia</b>(<b>NVDA</b>)- The firm&#39;s GPU sales could wane amid PC gaming headwinds.</li><li><b>Netflix</b>(<b>NFLX</b>)- Still trading at a cash basis premium, its subscribers could continue fading amid the password-sharing saga.</li><li><b>Chevron&#39;s</b>(<b>CVX</b>) - Commodity prices could drop abruptly as rates rise. Moreover, CVX is trading at nearly twice its book value.</li><li><b>Carvana</b>(<b>CVNA</b>) - A very frail stock considering its business model relative to the current economic climate.</li></ul><p>We’re officially in a bear market. The good news is that the market has two ends to it, meaning that we can profit from stock price appreciation as well as depreciation. Because of this, I have compiled a list of overvalued stocks to sell in this bear market.</p><p><img src=\"https://static.tigerbbs.com/6dacfd2269af09ab27495dc0bf22521d\" tg-width=\"300\" tg-height=\"135\" referrerpolicy=\"no-referrer\"/></p><p>Source: Gurufocus</p><p>I thought long and hard about how I’d structure this article. I will present you all with stocks that are trading above intrinsic value. In addition, I delved into the cyclical stage of the economy to figure out which sectors will likely slump into an extended downward spiral. Lastly, I considered an investment horizon; the yield curve indicates that we could be in for another two years worth of market turmoil. So, consider this article as a 48-month ex-ante analysis.</p><p><b>Stocks to Sell: Nvidia (NVDA)</b></p><p><b>Nvidia</b>(NASDAQ:<b>NVDA</b>) stock is in freefall after capitulating by nearly50%since the turn of the year. Looking forward, Nvidia is faced with a few challenges. First of all, the company is faced with re-openings and surging inflation, which could dent its PC gaming sales. Also, supply-chain woes continue to be troublesome to semiconductor companies as the time for delivery still sits around26 weeks.</p><p>Lastly, NVDA stock is overvalued as it is trading at 13.45x its sales and 44.35x its cash flow. I’d personally short the stock as it has a long way to drop before it reaches its intrinsic value.</p><p><b>Netflix (NFLX)</b></p><p><b>Netflix</b>(NASDAQ:<b>NFLX</b>) stock’s year-to-date slump of more than70%doesn’t make it a “buy the dip” opportunity by any means. Its recent subscriber slowdown coupled with the password sharing saga means that there’s significant idiosyncratic risk linked to this stock. Moreover, consumers will likely cut costs on ancillary goods, such as subscriptions, as the economy continues to fade with contractionary monetary policy.</p><p>Let’s look at matters from a quantitative vantage point. NFLX stock is overvalued as its stock is trading at144x its cash flow. Additionally, NFLX stock is faced with a downward momentum spiral as it’s trading below its10-, 50-, 100-, and 200-day moving averages.</p><p><b>Stocks to Sell: Chevron (CVX)</b></p><p>This might seem like an odd culprit to many, but give me a chance to explain. Firstly, it’s likely that energy prices have peaked as interest rates are rising, which is likely to slow consumer spending power. In addition, supply-chains are gradually freeing up as the Chinese Purchasing Managers’ Index indices are gathering steam once more. The final systemic factor I’d mention is that non-core inflation — energy and food products — is more elastic than core inflation, meaning we could see a sharp drawdown in energy prices soon as consumer spending power starts to wane.</p><p>Don’t get me wrong, <b>Chevron’s</b>(NYSE:<b>CVX</b>) operations have been robust during the past year, as conveyed by its year-over-year revenue growth of84.52%. Nevertheless, at a price-to-book ratio of1.99x, it has to be concluded that CVX stock is overvalued.</p><p><b>Carvana (CVNA)</b></p><p>I personally classify <b>Carvana</b>(NYSE:<b>CVNA</b>) stock as a meme stock bubble asset. CVNA stock has slumped by more than 90% during the past year as investors discovered fault lines in the company’s business model. Carvana is in free fall as its high beta of2.59xexhibits excess sensitivity to 2022’s bear market. Furthermore, the company operates in the durable goods space, which is on a cyclical downturn as consumers cut back on expensive discretionary spending.</p><p>On a final note, Carvana is overvalued, with its stock trading at 27.32x its book value. Thus, I believe CVNA stock has a long way to drop before it trades at a realistic price.</p></body></html>","source":"lsy1606302653667","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>4 Overvalued Stocks to Sell in This Bear Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 Overvalued Stocks to Sell in This Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-24 11:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/06/4-overvalued-stocks-to-sell-in-this-bear-market/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tactical allocation seems to be the name of the game in this bear market. Here are four overvalued stocks worth shorting:Nvidia(NVDA)- The firm's GPU sales could wane amid PC gaming headwinds.Netflix(...</p>\n\n<a href=\"https://investorplace.com/2022/06/4-overvalued-stocks-to-sell-in-this-bear-market/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CVX":"雪佛龙","CVNA":"Carvana Co.","NVDA":"英伟达","NFLX":"奈飞"},"source_url":"https://investorplace.com/2022/06/4-overvalued-stocks-to-sell-in-this-bear-market/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142682181","content_text":"Tactical allocation seems to be the name of the game in this bear market. Here are four overvalued stocks worth shorting:Nvidia(NVDA)- The firm's GPU sales could wane amid PC gaming headwinds.Netflix(NFLX)- Still trading at a cash basis premium, its subscribers could continue fading amid the password-sharing saga.Chevron's(CVX) - Commodity prices could drop abruptly as rates rise. Moreover, CVX is trading at nearly twice its book value.Carvana(CVNA) - A very frail stock considering its business model relative to the current economic climate.We’re officially in a bear market. The good news is that the market has two ends to it, meaning that we can profit from stock price appreciation as well as depreciation. Because of this, I have compiled a list of overvalued stocks to sell in this bear market.Source: GurufocusI thought long and hard about how I’d structure this article. I will present you all with stocks that are trading above intrinsic value. In addition, I delved into the cyclical stage of the economy to figure out which sectors will likely slump into an extended downward spiral. Lastly, I considered an investment horizon; the yield curve indicates that we could be in for another two years worth of market turmoil. So, consider this article as a 48-month ex-ante analysis.Stocks to Sell: Nvidia (NVDA)Nvidia(NASDAQ:NVDA) stock is in freefall after capitulating by nearly50%since the turn of the year. Looking forward, Nvidia is faced with a few challenges. First of all, the company is faced with re-openings and surging inflation, which could dent its PC gaming sales. Also, supply-chain woes continue to be troublesome to semiconductor companies as the time for delivery still sits around26 weeks.Lastly, NVDA stock is overvalued as it is trading at 13.45x its sales and 44.35x its cash flow. I’d personally short the stock as it has a long way to drop before it reaches its intrinsic value.Netflix (NFLX)Netflix(NASDAQ:NFLX) stock’s year-to-date slump of more than70%doesn’t make it a “buy the dip” opportunity by any means. Its recent subscriber slowdown coupled with the password sharing saga means that there’s significant idiosyncratic risk linked to this stock. Moreover, consumers will likely cut costs on ancillary goods, such as subscriptions, as the economy continues to fade with contractionary monetary policy.Let’s look at matters from a quantitative vantage point. NFLX stock is overvalued as its stock is trading at144x its cash flow. Additionally, NFLX stock is faced with a downward momentum spiral as it’s trading below its10-, 50-, 100-, and 200-day moving averages.Stocks to Sell: Chevron (CVX)This might seem like an odd culprit to many, but give me a chance to explain. Firstly, it’s likely that energy prices have peaked as interest rates are rising, which is likely to slow consumer spending power. In addition, supply-chains are gradually freeing up as the Chinese Purchasing Managers’ Index indices are gathering steam once more. The final systemic factor I’d mention is that non-core inflation — energy and food products — is more elastic than core inflation, meaning we could see a sharp drawdown in energy prices soon as consumer spending power starts to wane.Don’t get me wrong, Chevron’s(NYSE:CVX) operations have been robust during the past year, as conveyed by its year-over-year revenue growth of84.52%. Nevertheless, at a price-to-book ratio of1.99x, it has to be concluded that CVX stock is overvalued.Carvana (CVNA)I personally classify Carvana(NYSE:CVNA) stock as a meme stock bubble asset. CVNA stock has slumped by more than 90% during the past year as investors discovered fault lines in the company’s business model. Carvana is in free fall as its high beta of2.59xexhibits excess sensitivity to 2022’s bear market. Furthermore, the company operates in the durable goods space, which is on a cyclical downturn as consumers cut back on expensive discretionary spending.On a final note, Carvana is overvalued, with its stock trading at 27.32x its book value. Thus, I believe CVNA stock has a long way to drop before it trades at a realistic price.","news_type":1},"isVote":1,"tweetType":1,"viewCount":218,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577182936341023","authorId":"3577182936341023","name":"MIe","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":6,"crmLevelSwitch":0,"idStr":"3577182936341023","authorIdStr":"3577182936341023"},"content":"Buy profit sell in a cycle as energy best bet in hikes+ inflation times","text":"Buy profit sell in a cycle as energy best bet in hikes+ inflation times","html":"Buy profit sell in a cycle as energy best bet in hikes+ inflation times"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9985552394,"gmtCreate":1667433301318,"gmtModify":1676537916191,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9985552394","repostId":"2280319145","repostType":4,"repost":{"id":"2280319145","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1667430342,"share":"https://ttm.financial/m/news/2280319145?lang=&edition=fundamental","pubTime":"2022-11-03 07:05","market":"us","language":"en","title":"US STOCKS-Wall Street Closes Sharply Lower As Powell Signals Fed Not Done","url":"https://stock-news.laohu8.com/highlight/detail?id=2280319145","media":"Reuters","summary":"Fed hikes by 75 basis pointsU.S. private payrolls rise more than expectedPowell says Fed not close t","content":"<html><head></head><body><ul><li>Fed hikes by 75 basis points</li><li>U.S. private payrolls rise more than expected</li><li>Powell says Fed not close to pausing</li></ul><p><img src=\"https://static.tigerbbs.com/f695335e9ba9b8c92d6e7ab41b9088a2\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>U.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon.</p><p>In a volatile trading session, equities initially moved higher in the wake of the hike by the Fed, the fourth straight increase from the central bank of that magnitude as it attempts to bring down stubbornly high inflation.</p><p>The target federal funds rate was set in a range between 3.75% and 4.00%, but the impact of the hike was initially tempered by new language that suggested the central bank was mindful of the effect its outsized rate hikes have had on the economy.</p><p>Investors had been widely anticipating a 75-basis point rate hike, while hoping the Fed would signal a willingness to begin downsizing the rate hikes at its December meeting.</p><p>However, comments from Fed Chair Jerome Powell that it was &#34;very premature&#34; to be thinking about pausing rate hikes sent stocks sharply lower.</p><p>&#34;It is one speech, maybe it is a moment of frustration. I don’t think he should have done it the way he did this. But I understand why he did it, and in the big picture of things, he is doing the right thing right now,&#34; said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.</p><p>&#34;Ultimately this will be good for the economy and good for the market.&#34;</p><p>According to preliminary data, the S&amp;P 500 lost 96.93 points, or 2.53%, to end at 3,758.68 points, while the Nasdaq Composite lost 367.48 points, or 3.37%, to 10,523.37. The Dow Jones Industrial Average fell 513.22 points, or 1.57%, to 32,139.98.</p><p>The S&amp;P 500 had been lower prior to the policy announcement, as the ADP National Employment report showed U.S. private payrolls increased more than expected in October, giving more reason to the Fed to continue an aggressive path of rate hikes.</p><p>The private payrolls report came on the heels of data on Tuesday that showed a jump in U.S. monthly job openings, indicating labor demand remained strong.</p><p>Investors will get more looks at the labor market in the form of weekly initial jobless claims on Thursday and the October payrolls report on Friday that will help drive expectations for interest rate hikes.</p></body></html>","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>US STOCKS-Wall Street Closes Sharply Lower As Powell Signals Fed Not Done</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Closes Sharply Lower As Powell Signals Fed Not Done\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-11-03 07:05</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><ul><li>Fed hikes by 75 basis points</li><li>U.S. private payrolls rise more than expected</li><li>Powell says Fed not close to pausing</li></ul><p><img src=\"https://static.tigerbbs.com/f695335e9ba9b8c92d6e7ab41b9088a2\" tg-width=\"1080\" tg-height=\"1920\" width=\"100%\" height=\"auto\"/></p><p>U.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon.</p><p>In a volatile trading session, equities initially moved higher in the wake of the hike by the Fed, the fourth straight increase from the central bank of that magnitude as it attempts to bring down stubbornly high inflation.</p><p>The target federal funds rate was set in a range between 3.75% and 4.00%, but the impact of the hike was initially tempered by new language that suggested the central bank was mindful of the effect its outsized rate hikes have had on the economy.</p><p>Investors had been widely anticipating a 75-basis point rate hike, while hoping the Fed would signal a willingness to begin downsizing the rate hikes at its December meeting.</p><p>However, comments from Fed Chair Jerome Powell that it was &#34;very premature&#34; to be thinking about pausing rate hikes sent stocks sharply lower.</p><p>&#34;It is one speech, maybe it is a moment of frustration. I don’t think he should have done it the way he did this. But I understand why he did it, and in the big picture of things, he is doing the right thing right now,&#34; said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.</p><p>&#34;Ultimately this will be good for the economy and good for the market.&#34;</p><p>According to preliminary data, the S&amp;P 500 lost 96.93 points, or 2.53%, to end at 3,758.68 points, while the Nasdaq Composite lost 367.48 points, or 3.37%, to 10,523.37. The Dow Jones Industrial Average fell 513.22 points, or 1.57%, to 32,139.98.</p><p>The S&amp;P 500 had been lower prior to the policy announcement, as the ADP National Employment report showed U.S. private payrolls increased more than expected in October, giving more reason to the Fed to continue an aggressive path of rate hikes.</p><p>The private payrolls report came on the heels of data on Tuesday that showed a jump in U.S. monthly job openings, indicating labor demand remained strong.</p><p>Investors will get more looks at the labor market in the form of weekly initial jobless claims on Thursday and the October payrolls report on Friday that will help drive expectations for interest rate hikes.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2280319145","content_text":"Fed hikes by 75 basis pointsU.S. private payrolls rise more than expectedPowell says Fed not close to pausingU.S. stocks ended sharply lower on Wednesday, as comments from Fed Chair Jerome Powell shattered initial optimism over a Fed policy statement that raised interest rates by 75 basis points but signaled that smaller rate hikes may be on the horizon.In a volatile trading session, equities initially moved higher in the wake of the hike by the Fed, the fourth straight increase from the central bank of that magnitude as it attempts to bring down stubbornly high inflation.The target federal funds rate was set in a range between 3.75% and 4.00%, but the impact of the hike was initially tempered by new language that suggested the central bank was mindful of the effect its outsized rate hikes have had on the economy.Investors had been widely anticipating a 75-basis point rate hike, while hoping the Fed would signal a willingness to begin downsizing the rate hikes at its December meeting.However, comments from Fed Chair Jerome Powell that it was \"very premature\" to be thinking about pausing rate hikes sent stocks sharply lower.\"It is one speech, maybe it is a moment of frustration. I don’t think he should have done it the way he did this. But I understand why he did it, and in the big picture of things, he is doing the right thing right now,\" said Stephen Massocca, senior vice president at Wedbush Securities in San Francisco.\"Ultimately this will be good for the economy and good for the market.\"According to preliminary data, the S&P 500 lost 96.93 points, or 2.53%, to end at 3,758.68 points, while the Nasdaq Composite lost 367.48 points, or 3.37%, to 10,523.37. The Dow Jones Industrial Average fell 513.22 points, or 1.57%, to 32,139.98.The S&P 500 had been lower prior to the policy announcement, as the ADP National Employment report showed U.S. private payrolls increased more than expected in October, giving more reason to the Fed to continue an aggressive path of rate hikes.The private payrolls report came on the heels of data on Tuesday that showed a jump in U.S. monthly job openings, indicating labor demand remained strong.Investors will get more looks at the labor market in the form of weekly initial jobless claims on Thursday and the October payrolls report on Friday that will help drive expectations for interest rate hikes.","news_type":1},"isVote":1,"tweetType":1,"viewCount":127,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9044407483,"gmtCreate":1656806680342,"gmtModify":1676535895451,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"Bad news","listText":"Bad news","text":"Bad news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9044407483","repostId":"2248980919","repostType":4,"repost":{"id":"2248980919","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1656848586,"share":"https://ttm.financial/m/news/2248980919?lang=&edition=fundamental","pubTime":"2022-07-03 19:43","market":"us","language":"en","title":"Tesla Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems","url":"https://stock-news.laohu8.com/highlight/detail?id=2248980919","media":"Reuters","summary":"July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second q","content":"<html><head></head><body><p>July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.</p><p>In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.</p><p>Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China&#39;s prolonged lockdown.</p><p>Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.</p><p>Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla&#39;s history, the company said in a news release.</p><p><img src=\"https://static.tigerbbs.com/b06a0b120caa4763851aba5807bfe85b\" tg-width=\"1017\" tg-height=\"192\" referrerpolicy=\"no-referrer\"/></p></body></html>","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>Tesla Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Q2 Deliveries Slump To 254,695 Amid Supply Chain, Pandemic Problems\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-07-03 19:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.</p><p>In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.</p><p>Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China&#39;s prolonged lockdown.</p><p>Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.</p><p>Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla&#39;s history, the company said in a news release.</p><p><img src=\"https://static.tigerbbs.com/b06a0b120caa4763851aba5807bfe85b\" tg-width=\"1017\" tg-height=\"192\" referrerpolicy=\"no-referrer\"/></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2248980919","content_text":"July 2 (Reuters) - Tesla Inc said on Saturday its vehicle deliveries fell to 254,695 in the second quarter, as a COVID-related shutdown in Shanghai hit its production and supply chain.In the preceding quarter, the U.S. electric car maker delivered 310,048 vehicles globally.Analysts had expected Tesla to report deliveries of 295,078 vehicles for the April to June period, according to Refinitiv data. Several analysts had slashed their estimates further to about 250,000 due to China's prolonged lockdown.Tesla said it delivered 238,533 Model 3 compact cars and Model Y sport-utility vehicles, as well as 16,162 of its Model S and Model X vehicles to customers in the quarter.Total production fell 15.3% to 258,580 vehicles from the first quarter. June 2022 was the highest vehicle production month in Tesla's history, the company said in a news release.","news_type":1},"isVote":1,"tweetType":1,"viewCount":362,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9956123100,"gmtCreate":1673937422001,"gmtModify":1676538905650,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌👌👌👌👌👌","listText":"👌👌👌👌👌👌","text":"👌👌👌👌👌👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9956123100","isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982578303,"gmtCreate":1667222537002,"gmtModify":1676537879915,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9982578303","repostId":"1126872333","repostType":4,"repost":{"id":"1126872333","pubTimestamp":1667230218,"share":"https://ttm.financial/m/news/1126872333?lang=&edition=fundamental","pubTime":"2022-10-31 23:30","market":"us","language":"en","title":"Tech Is Getting Boring. That’s a Good Thing","url":"https://stock-news.laohu8.com/highlight/detail?id=1126872333","media":"The Wall Street Journal","summary":"History shows that downturns are when the industry shifts focus from flashy novelties to things that are truly useful","content":"<html><head></head><body><p>LAGUNA BEACH, Calif.—With their valuations and earnings down, and their guidance gloomy, America’s tech companies have entered a phase when they have to be brutally honest with themselves about what really works. This means executives are trimming staff, moonshots and unprofitable distractions. They’re also deciding what to focus on.</p><p>It’s a transition away from more than a decade of “gee-whiz” projects—think self-driving cars, flying cars, metaverses and crypto—all fueled by seemingly limitless cash and venture-backed meal-replacement slurries. The task at hand now: the sometimes-boring but always-important work of building and expanding businesses that actually make money, by delivering things people and companies want and need.</p><p>This past week of earnings reports and public comments from the leaders of America’s biggest tech companies hammered home this theme. Google parent Alphabet, Microsoft, <a href=\"https://laohu8.com/S/META\">Facebook</a> increase; green up pointing triangle parent Meta Platforms and Amazon all reported quarterly results that caused their already-battered stocks to fall further.</p><p>For me and others who attended The Wall Street Journal Tech Live conference this past week, it was impossible to miss a recurring theme: the gravity of this moment, and the ways leaders are being forced to quickly adapt. This reality came up again and again, in both panels and frank between-session chatter.</p><p>Asked about the sudden, industrywide decline in sales of semiconductors, a stark turn in fortunes even for an industry as cyclical as chips, Intel Chief Executive Pat Gelsinger said: “Misery loves company—and that’s the nature of the semiconductor industry.”</p><p>Evan Spiegel, CEO of Snap—whose market value has tumbled more than 80% over the past year—spoke candidly about having had to discontinue innovative hardware products like its Pixy drone because they were low-margin businesses. He said his company had to focus on what could directly affect its bottom line, from making more revenue per user on advertising to continuing to expand the audience for its core social-media product.</p><p>Amid all this gloom, though, the inherent optimism of the tech industry also shined through. And that belief that better times are just one more breakthrough away isn’t entirely irrational, given what has happened to America’s tech industry in downturns past.</p><p>Historically, when venture capitalists tighten the purse strings and shareholders in public companies start demanding answers, the tech industry is forced to cut back in areas that aren’t viable businesses and focus on what can actually generate value for their customers—and revenue for themselves.</p><p>During financial crises, belt-tightening leads to the rollout and broad adoption of existing but not yet widely used technologies, according to lecturer and consultant Carlota Perez, who is a favorite of some venture capitalists for her studies of what drives revolutions in technology.</p><p>It might seem at first counterintuitive—wouldn’t the good times be when technologies are most widely deployed? But it turns out those are the times companies lose self-discipline, and spend on projects that might go nowhere, rather than putting their money and effort toward scaling up efforts that are both genuinely useful and actually profitable.</p><p>Now is a time when companies are shifting their attitudes and strategy from “what can we do?” to “what do we need to do?”</p><p>Waymo, born in 2009 in what was then Google’s moonshot lab, Google X, is a good example of this. At this past week’s conference, Journal reporter Tim Higgins pressed Waymo Co-CEO Tekedra Mawakana on whether future rollouts of the company’s self-driving taxis in new cities would take as long as the rollout of its first commercial service did in Phoenix—which has been going on for the past two years. Ms. Mawakana responded that after that first effort in Arizona, the company’s more mature self-driving technology meant that it was able to deploy its vehicles much more quickly in San Francisco, and will soon launch in Los Angeles.</p><p>It only took 13 years and at least $5.7 billion in investment.</p><p>Behind the scenes, in September Waymo hired a new finance chief to help the company expand to new regions and types of vehicles, a company spokeswoman told the Journal. Given the enormity of the transportation industry, if Waymo really has hit on a way to make robotaxis work in many more cities, even just some of the time, Waymo’s growth in the coming years could turn it into a business of significant scale for Alphabet.</p><p>As for the rest of the tech industry, what does focusing on what actually works look like? Lessons from past downturns, combined with other trends unique to the present, suggest directions they might take.</p><h3>Cost cutting and hybrid work favor remote-collaboration tech</h3><p>Many of the collaboration tools that got the world’s knowledge workers through the pandemic were founded soon after either the 2000 or 2008 crashes—from Zoom Video Communications (founded in 2011) to Slack (evolved from a videogame company that started in 2009) and Atlassian (2002). Before the pandemic, their growth typified the trend of businesses turning to cloud-based software to cut costs—or enable new means of getting things done more cheaply—when revenue dries up.</p><p>All of those onetime startups are now either big companies in their own right, or are owned by big companies. And companies still need tools for remote collaboration, since hybrid work necessitates them as much as fully remote work did. So while these companies may suffer pain in the short term, in the long run they have a double tailwind that could mean steady growth.</p><p>As with past downturns, there will be new companies and industries that will either be born during this time or will see their growth accelerate.</p><p>Roelof Botha, a partner at venture-capital giant Sequoia, said on stage at Tech Live that investors have more opportunities to find and evaluate good startups in a down market. Many other investors have said similar things. Even as giant “crossover funds” that invest in both the stock market and startups have grown shy about dumping money into private companies, venture-capital firms that remain committed to investing in startups are hunting for deals.</p><h3>Practical automation will help keep the lights on</h3><p>Webvan was a rapid-delivery company that saw a huge run up in its valuation before it went bust in 2001. While it failed, one of its laid-off leaders, Mick Mountz, took from his time there the lesson that e-commerce warehouses needed a great deal more automation than was available at the time. That led him to found Kiva Robotics, the logistics-automation company. Kiva was eventually bought by Amazon, and has been the linchpin of the company’s e-commerce fulfillment infrastructure ever since.</p><p>Now, a new wave of more-capable and demonstrably useful robots is arriving, as technologies like machine learning and computer vision have matured.</p><p>Boston Dynamics, a company that was founded in 1992 but didn’t release its first product commercially—Spot, the robot dog—until 2020, exemplifies this trend. In a panel on stage at Tech Live, CEO Robert Playter said that Spot is now covering more than 23 kilometers a day in an inspection tour of an Anheuser-Busch brewery, using a heat-sensing camera and a special auditory sensor to find machines that might fail soon or are wasting energy.</p><p>But it’s a less-cute, more practical robot called Stretch, a large mobile arm with a suction-based gripper for unloading trucks and shipping containers, that could someday be the real growth story for the company. Boston Dynamics has tested the robot with customers like DHL, and has received preorders for it.</p><h3>Crypto grows up</h3><p>No corner of the tech bubble saw a more furious run-up in valuation or a more precipitous crash than the value of cryptocurrencies and blockchain-based virtual goods like the deeds of ownership for digital art known as NFTs. The collapse of this bubble has dealt a body blow to the value of crypto-focused funds such as those run by investment firm Andreessen Horowitz.</p><p>When pressed on what applications of cryptocurrencies and the blockchain will prove durable, Sam Bankman-Fried, CEO and founder of crypto exchange FTX, pointed to speeding up the process of transferring money between banks, and at the same time reducing the transaction fees paid by merchants. While an admirable goal, re-plumbing the connections among the world’s financial institutions is hardly the sort of thing that has gotten crypto fans most excited in the past few years.</p><p>“Right now, the big opportunity, it feels like, and where capital is flowing, and a lot of good ideas still seem to be, is building out the infrastructure of blockchains and crypto,” said Ravi Mhatre, a co-founder of Lightspeed Venture Partners who sat on the same panel as Mr. Bankman-Fried. That infrastructure will be necessary to get hundreds of millions of people onto these systems, and make them just as fast and accessible as the internet itself, he added.</p><p>It’s another example of hype-fueled tech seeing its more outlandish manifestations laid low, and companies turning toward the things that it might actually do well, no matter how boring they might seem.</p><h3>The metaverse becomes the most boring place of all</h3><p>Herman Narula, CEO of the metaverse company Improbable Worlds, pointed out in a panel that the world already has a number of popular metaverses, and all of them are games, including Fortnite and Roblox. If Facebook’s own ailing metaverse, Horizon Worlds, can also be thought of as a kind of game, then staking a giant company’s future on what is essentially a new, unfinished game “is a really difficult thing to see working out successfully,” he added.</p><p>Tellingly, Facebook unveiled a new “pro” virtual-reality headset along with a partnership with Microsoft, which will be making its workplace-software available in the headset.</p><p>If it works, this realignment of the metaverse from a place to have fun to a place to get things done may represent the point at which Meta figured out an actual use for the metaverse: Making us more productive when we have to stare at screens anyway.</p><p>Phil Libin, CEO of artificial-intelligence company All Turtles and a self-described “metaverse hater,” sat on the same panel as Mr. Narula. Mr. Libin summed up the state of investment in the metaverse in a way that could apply to all tech investment in the foreseeable future.</p><p>“Now more than at any other time in history,” he said, “it is time to invest in the real world.”</p></body></html>","source":"wsj_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech Is Getting Boring. That’s a Good Thing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech Is Getting Boring. That’s a Good Thing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-31 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/tech-is-getting-boring-thats-a-good-thing-11667016004?mod=business_major_pos8><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>LAGUNA BEACH, Calif.—With their valuations and earnings down, and their guidance gloomy, America’s tech companies have entered a phase when they have to be brutally honest with themselves about what ...</p>\n\n<a href=\"https://www.wsj.com/articles/tech-is-getting-boring-thats-a-good-thing-11667016004?mod=business_major_pos8\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVDA":"英伟达","MSFT":"微软","AAPL":"苹果","AMZN":"亚马逊","TSLA":"特斯拉","GOOGL":"谷歌A"},"source_url":"https://www.wsj.com/articles/tech-is-getting-boring-thats-a-good-thing-11667016004?mod=business_major_pos8","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126872333","content_text":"LAGUNA BEACH, Calif.—With their valuations and earnings down, and their guidance gloomy, America’s tech companies have entered a phase when they have to be brutally honest with themselves about what really works. This means executives are trimming staff, moonshots and unprofitable distractions. They’re also deciding what to focus on.It’s a transition away from more than a decade of “gee-whiz” projects—think self-driving cars, flying cars, metaverses and crypto—all fueled by seemingly limitless cash and venture-backed meal-replacement slurries. The task at hand now: the sometimes-boring but always-important work of building and expanding businesses that actually make money, by delivering things people and companies want and need.This past week of earnings reports and public comments from the leaders of America’s biggest tech companies hammered home this theme. Google parent Alphabet, Microsoft, Facebook increase; green up pointing triangle parent Meta Platforms and Amazon all reported quarterly results that caused their already-battered stocks to fall further.For me and others who attended The Wall Street Journal Tech Live conference this past week, it was impossible to miss a recurring theme: the gravity of this moment, and the ways leaders are being forced to quickly adapt. This reality came up again and again, in both panels and frank between-session chatter.Asked about the sudden, industrywide decline in sales of semiconductors, a stark turn in fortunes even for an industry as cyclical as chips, Intel Chief Executive Pat Gelsinger said: “Misery loves company—and that’s the nature of the semiconductor industry.”Evan Spiegel, CEO of Snap—whose market value has tumbled more than 80% over the past year—spoke candidly about having had to discontinue innovative hardware products like its Pixy drone because they were low-margin businesses. He said his company had to focus on what could directly affect its bottom line, from making more revenue per user on advertising to continuing to expand the audience for its core social-media product.Amid all this gloom, though, the inherent optimism of the tech industry also shined through. And that belief that better times are just one more breakthrough away isn’t entirely irrational, given what has happened to America’s tech industry in downturns past.Historically, when venture capitalists tighten the purse strings and shareholders in public companies start demanding answers, the tech industry is forced to cut back in areas that aren’t viable businesses and focus on what can actually generate value for their customers—and revenue for themselves.During financial crises, belt-tightening leads to the rollout and broad adoption of existing but not yet widely used technologies, according to lecturer and consultant Carlota Perez, who is a favorite of some venture capitalists for her studies of what drives revolutions in technology.It might seem at first counterintuitive—wouldn’t the good times be when technologies are most widely deployed? But it turns out those are the times companies lose self-discipline, and spend on projects that might go nowhere, rather than putting their money and effort toward scaling up efforts that are both genuinely useful and actually profitable.Now is a time when companies are shifting their attitudes and strategy from “what can we do?” to “what do we need to do?”Waymo, born in 2009 in what was then Google’s moonshot lab, Google X, is a good example of this. At this past week’s conference, Journal reporter Tim Higgins pressed Waymo Co-CEO Tekedra Mawakana on whether future rollouts of the company’s self-driving taxis in new cities would take as long as the rollout of its first commercial service did in Phoenix—which has been going on for the past two years. Ms. Mawakana responded that after that first effort in Arizona, the company’s more mature self-driving technology meant that it was able to deploy its vehicles much more quickly in San Francisco, and will soon launch in Los Angeles.It only took 13 years and at least $5.7 billion in investment.Behind the scenes, in September Waymo hired a new finance chief to help the company expand to new regions and types of vehicles, a company spokeswoman told the Journal. Given the enormity of the transportation industry, if Waymo really has hit on a way to make robotaxis work in many more cities, even just some of the time, Waymo’s growth in the coming years could turn it into a business of significant scale for Alphabet.As for the rest of the tech industry, what does focusing on what actually works look like? Lessons from past downturns, combined with other trends unique to the present, suggest directions they might take.Cost cutting and hybrid work favor remote-collaboration techMany of the collaboration tools that got the world’s knowledge workers through the pandemic were founded soon after either the 2000 or 2008 crashes—from Zoom Video Communications (founded in 2011) to Slack (evolved from a videogame company that started in 2009) and Atlassian (2002). Before the pandemic, their growth typified the trend of businesses turning to cloud-based software to cut costs—or enable new means of getting things done more cheaply—when revenue dries up.All of those onetime startups are now either big companies in their own right, or are owned by big companies. And companies still need tools for remote collaboration, since hybrid work necessitates them as much as fully remote work did. So while these companies may suffer pain in the short term, in the long run they have a double tailwind that could mean steady growth.As with past downturns, there will be new companies and industries that will either be born during this time or will see their growth accelerate.Roelof Botha, a partner at venture-capital giant Sequoia, said on stage at Tech Live that investors have more opportunities to find and evaluate good startups in a down market. Many other investors have said similar things. Even as giant “crossover funds” that invest in both the stock market and startups have grown shy about dumping money into private companies, venture-capital firms that remain committed to investing in startups are hunting for deals.Practical automation will help keep the lights onWebvan was a rapid-delivery company that saw a huge run up in its valuation before it went bust in 2001. While it failed, one of its laid-off leaders, Mick Mountz, took from his time there the lesson that e-commerce warehouses needed a great deal more automation than was available at the time. That led him to found Kiva Robotics, the logistics-automation company. Kiva was eventually bought by Amazon, and has been the linchpin of the company’s e-commerce fulfillment infrastructure ever since.Now, a new wave of more-capable and demonstrably useful robots is arriving, as technologies like machine learning and computer vision have matured.Boston Dynamics, a company that was founded in 1992 but didn’t release its first product commercially—Spot, the robot dog—until 2020, exemplifies this trend. In a panel on stage at Tech Live, CEO Robert Playter said that Spot is now covering more than 23 kilometers a day in an inspection tour of an Anheuser-Busch brewery, using a heat-sensing camera and a special auditory sensor to find machines that might fail soon or are wasting energy.But it’s a less-cute, more practical robot called Stretch, a large mobile arm with a suction-based gripper for unloading trucks and shipping containers, that could someday be the real growth story for the company. Boston Dynamics has tested the robot with customers like DHL, and has received preorders for it.Crypto grows upNo corner of the tech bubble saw a more furious run-up in valuation or a more precipitous crash than the value of cryptocurrencies and blockchain-based virtual goods like the deeds of ownership for digital art known as NFTs. The collapse of this bubble has dealt a body blow to the value of crypto-focused funds such as those run by investment firm Andreessen Horowitz.When pressed on what applications of cryptocurrencies and the blockchain will prove durable, Sam Bankman-Fried, CEO and founder of crypto exchange FTX, pointed to speeding up the process of transferring money between banks, and at the same time reducing the transaction fees paid by merchants. While an admirable goal, re-plumbing the connections among the world’s financial institutions is hardly the sort of thing that has gotten crypto fans most excited in the past few years.“Right now, the big opportunity, it feels like, and where capital is flowing, and a lot of good ideas still seem to be, is building out the infrastructure of blockchains and crypto,” said Ravi Mhatre, a co-founder of Lightspeed Venture Partners who sat on the same panel as Mr. Bankman-Fried. That infrastructure will be necessary to get hundreds of millions of people onto these systems, and make them just as fast and accessible as the internet itself, he added.It’s another example of hype-fueled tech seeing its more outlandish manifestations laid low, and companies turning toward the things that it might actually do well, no matter how boring they might seem.The metaverse becomes the most boring place of allHerman Narula, CEO of the metaverse company Improbable Worlds, pointed out in a panel that the world already has a number of popular metaverses, and all of them are games, including Fortnite and Roblox. If Facebook’s own ailing metaverse, Horizon Worlds, can also be thought of as a kind of game, then staking a giant company’s future on what is essentially a new, unfinished game “is a really difficult thing to see working out successfully,” he added.Tellingly, Facebook unveiled a new “pro” virtual-reality headset along with a partnership with Microsoft, which will be making its workplace-software available in the headset.If it works, this realignment of the metaverse from a place to have fun to a place to get things done may represent the point at which Meta figured out an actual use for the metaverse: Making us more productive when we have to stare at screens anyway.Phil Libin, CEO of artificial-intelligence company All Turtles and a self-described “metaverse hater,” sat on the same panel as Mr. Narula. Mr. Libin summed up the state of investment in the metaverse in a way that could apply to all tech investment in the foreseeable future.“Now more than at any other time in history,” he said, “it is time to invest in the real world.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":118,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9982976978,"gmtCreate":1667091940794,"gmtModify":1676537858698,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9982976978","repostId":"1171013747","repostType":4,"repost":{"id":"1171013747","pubTimestamp":1667091465,"share":"https://ttm.financial/m/news/1171013747?lang=&edition=fundamental","pubTime":"2022-10-30 08:57","market":"us","language":"en","title":"Tesla Investors Cheer Lack Of Stock Sale By Elon Musk, Toyota Plotting Model 3 Rival In China, Europe Plans EV Pivot By 2035: Week's Biggest EV Stories","url":"https://stock-news.laohu8.com/highlight/detail?id=1171013747","media":"Benzinga","summary":"ZINGER KEY POINTSEV manufacturers are coming off a tough period marred by supply constraints and dem","content":"<html><head></head><body><p><b>ZINGER KEY POINTS</b></p><ul><li>EV manufacturers are coming off a tough period marred by supply constraints and demand slowdown due to economic uncertainties.</li><li>If an inflection in economic conditions is achieved, stocks of these companies are poised for a strong rally from depressed levels.</li></ul><p>Earnings season proved salubrious for electric vehicle stocks, helping them advance in the week ending Oct. 29. Chinese stocks bucked the trend and came under significant selling pressure.</p><p>Now, here are the key events that happened in the EV space during the week:</p><p><b>Tesla’s Relief Rally:</b> <b>Tesla, Inc.</b> shares, which have come under significant selling pressure this year, rose over 6.5% this week. One of the reasons could apparently be CEO <b>Elon Musk</b> holding off on any further disposal of his stake in the company to fund his <b>Twitter, Inc.</b> buy. Analysts believe the removal of the uncertainty around the Twitter deal could prompt traders to come piling back into the stock.</p><p>Tesla is planning a major expansion to its newly-opened Gigafactory in Berlin, local media outlet rbb24 reported, according to Teslarati. Tesla, which reportedly owns about 300 hectares of land on the property in Brandenburg, is planning to clear the area to expand the factory.</p><p>Rumors of a new Gigafactory in Mexico gained ground after Musk visited the country and met with government officials from the state of Nuevo León. Local outlet Mexico News Daily reported rumors of Tesla setting up a factory in Santa Catarina, which is a seven-hour drive from the EV giant’s headquarters in Austin, Texas.</p><p>A Reuters report suggested Tesla is facing a criminal investigation over self-driving claims regarding its electric vehicles. Another negative headline was the recall of 24,000 Model 3 vehicles in the U.S. over seat belt issues. As opposed to most recent recalls, which were rectified through over-the-air updates, this one involved a physical recall.</p><p><b>Lucid Opens First Retail Store In Saudi Arabia:</b> <b>Lucid Group, Inc.</b> opened its first studio in the Middle East in Riyadh, Saudi Arabia. Earlier this year, the company announced the signing of an agreement with the Saudi government to supply 100,000 EVs over ten years. Lucid is part-owned by the Saudi sovereign wealth fund <b>Public Investment Fund.</b></p><p><b>Toyota Unveils New bZ3 For Chinese Market:</b> <b>Toyota Motor Corporation</b> announced the Toyota bZ3, the second model in its bZ series EVs. It is a battery EV sedan jointly developed with China’s <b>BYD Company Limited</b> and will be made available for the Chinese market. The model is widely expected to be a rival offering to Tesla’s budget vehicle, the Model 3. The EV will be powered by BYD’s lithium-iron-phosphate battery and is capable of achieving a cruising range of over 600 km.</p><p><b>Faraday Future Taps Ex-Romeo Power Executive For CFO Role:</b> <b>Faraday Future Intelligent Electric Inc.</b> announced the appointment of <b>Yun Han</b> as chief accounting officer and interim chief financial officer, effective Oct. 25. Han was previously employed as SVP and chief accounting officer at Romeo Power, which was acquired by <b>Workhorse Group, Inc.</b> recently.</p><p><b>Europe To Transition Fully To EVs By 2035:</b> European legislators reached an agreement this week to phase out sales of internal combustion cars and vans by 2035. Representatives of the European Parliament and the European Council have agreed on the deadline in a bid to reduce net greenhouse gas emissions by at least 55% by 2030.</p><p><b>EV Stock Performances for The Week:</b></p><p><img src=\"https://static.tigerbbs.com/74b2259eebf61d115520563a5a0fdc43\" tg-width=\"640\" tg-height=\"1019\" width=\"100%\" height=\"auto\"/></p></body></html>","source":"lsy1606299360108","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>Tesla Investors Cheer Lack Of Stock Sale By Elon Musk, Toyota Plotting Model 3 Rival In China, Europe Plans EV Pivot By 2035: Week's Biggest EV Stories</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Investors Cheer Lack Of Stock Sale By Elon Musk, Toyota Plotting Model 3 Rival In China, Europe Plans EV Pivot By 2035: Week's Biggest EV Stories\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-30 08:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/22/10/29469650/tesla-investors-cheer-lack-of-stock-sale-by-elon-musk-toyota-plotting-model-3-rival-in-china-europe><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>ZINGER KEY POINTSEV manufacturers are coming off a tough period marred by supply constraints and demand slowdown due to economic uncertainties.If an inflection in economic conditions is achieved, ...</p>\n\n<a href=\"https://www.benzinga.com/news/22/10/29469650/tesla-investors-cheer-lack-of-stock-sale-by-elon-musk-toyota-plotting-model-3-rival-in-china-europe\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TM":"丰田汽车","TSLA":"特斯拉"},"source_url":"https://www.benzinga.com/news/22/10/29469650/tesla-investors-cheer-lack-of-stock-sale-by-elon-musk-toyota-plotting-model-3-rival-in-china-europe","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171013747","content_text":"ZINGER KEY POINTSEV manufacturers are coming off a tough period marred by supply constraints and demand slowdown due to economic uncertainties.If an inflection in economic conditions is achieved, stocks of these companies are poised for a strong rally from depressed levels.Earnings season proved salubrious for electric vehicle stocks, helping them advance in the week ending Oct. 29. Chinese stocks bucked the trend and came under significant selling pressure.Now, here are the key events that happened in the EV space during the week:Tesla’s Relief Rally: Tesla, Inc. shares, which have come under significant selling pressure this year, rose over 6.5% this week. One of the reasons could apparently be CEO Elon Musk holding off on any further disposal of his stake in the company to fund his Twitter, Inc. buy. Analysts believe the removal of the uncertainty around the Twitter deal could prompt traders to come piling back into the stock.Tesla is planning a major expansion to its newly-opened Gigafactory in Berlin, local media outlet rbb24 reported, according to Teslarati. Tesla, which reportedly owns about 300 hectares of land on the property in Brandenburg, is planning to clear the area to expand the factory.Rumors of a new Gigafactory in Mexico gained ground after Musk visited the country and met with government officials from the state of Nuevo León. Local outlet Mexico News Daily reported rumors of Tesla setting up a factory in Santa Catarina, which is a seven-hour drive from the EV giant’s headquarters in Austin, Texas.A Reuters report suggested Tesla is facing a criminal investigation over self-driving claims regarding its electric vehicles. Another negative headline was the recall of 24,000 Model 3 vehicles in the U.S. over seat belt issues. As opposed to most recent recalls, which were rectified through over-the-air updates, this one involved a physical recall.Lucid Opens First Retail Store In Saudi Arabia: Lucid Group, Inc. opened its first studio in the Middle East in Riyadh, Saudi Arabia. Earlier this year, the company announced the signing of an agreement with the Saudi government to supply 100,000 EVs over ten years. Lucid is part-owned by the Saudi sovereign wealth fund Public Investment Fund.Toyota Unveils New bZ3 For Chinese Market: Toyota Motor Corporation announced the Toyota bZ3, the second model in its bZ series EVs. It is a battery EV sedan jointly developed with China’s BYD Company Limited and will be made available for the Chinese market. The model is widely expected to be a rival offering to Tesla’s budget vehicle, the Model 3. The EV will be powered by BYD’s lithium-iron-phosphate battery and is capable of achieving a cruising range of over 600 km.Faraday Future Taps Ex-Romeo Power Executive For CFO Role: Faraday Future Intelligent Electric Inc. announced the appointment of Yun Han as chief accounting officer and interim chief financial officer, effective Oct. 25. Han was previously employed as SVP and chief accounting officer at Romeo Power, which was acquired by Workhorse Group, Inc. recently.Europe To Transition Fully To EVs By 2035: European legislators reached an agreement this week to phase out sales of internal combustion cars and vans by 2035. Representatives of the European Parliament and the European Council have agreed on the deadline in a bid to reduce net greenhouse gas emissions by at least 55% by 2030.EV Stock Performances for The Week:","news_type":1},"isVote":1,"tweetType":1,"viewCount":25,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9079942060,"gmtCreate":1657149232450,"gmtModify":1676535956903,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9079942060","repostId":"2249482475","repostType":4,"repost":{"id":"2249482475","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1657148491,"share":"https://ttm.financial/m/news/2249482475?lang=&edition=fundamental","pubTime":"2022-07-07 07:01","market":"us","language":"en","title":"US STOCKS-Wall Street Ends up as Investors Absorb Fed Minutes","url":"https://stock-news.laohu8.com/highlight/detail?id=2249482475","media":"Reuters","summary":"* Markets endured topsy-turvy trading prior to release* Investors watching c.bank's stance on rate h","content":"<html><head></head><body><p>* Markets endured topsy-turvy trading prior to release</p><p>* Investors watching c.bank&#39;s stance on rate hikes, inflation</p><p>* Uber, DoorDash fall as Just Eat agrees Amazon partnership</p><p>* Indexes up: Dow 0.23%, S&amp;P 0.36%, Nasdaq 0.35%</p><p>Wall Street put a seesaw day behind it to close higher on Wednesday, as investors digested new clues on the U.S. central bank&#39;s approach to rate policy and its inflation fight detailed in the minutes from the latest Federal Reserve meeting.</p><p>After a brutal selloff in global equity markets in the first half of the year, nervous investors are keeping a close watch on central bank actions as they try to assess the impact of aggressive rate hikes on global growth.</p><p>They got their latest data point on Wednesday afternoon, when the minutes of the June 14-15 policy meeting detailed how the U.S. central bank was prompted to make an outsized interest rate increase. The minutes were a firm restatement of the Fed&#39;s intent to get prices under control to address stubborn inflation and concern about lost faith in the central bank&#39;s power.</p><p>The 0.75 percentage-point rate increase which came out of the meeting was the first of that size since 1994. According to the minutes, participants judged that an increase of 50 or 75 basis points would likely be appropriate at the policy meeting later this month.</p><p>Prior to the minutes&#39; publication, investors had been pricing in another 75-basis-point rate increase at the upcoming July 26-27 gathering, meaning the fact that both 50 basis points and 75 basis points remained on the table pointed toward the Fed acknowledging the impact of its rate rises on the economy.</p><p>The minutes reflected participants&#39; concern about rate increases having the potential for a &#34;larger-than-anticipated&#34; impact on economic growth.</p><p>&#34;I think people are heavily focused on the terminal rate of what the Federal Reserve&#39;s increases are, and the 50-75 debate just points towards where you end up,&#34; said Jason Pride, chief investment officer of private wealth at Glenmede.</p><p>He noted that a 50 basis-point hike would point toward a terminal rate of 3%, while 75 basis points indicated a peak of 3.25% or 3.5%. At 3.5% or above, the likelihood of recession is about 50%.</p><p>Prior to the publication of the minutes, all three Wall Street benchmarks had endured a seesaw session, and while there were further swings between positive and negative territory in the moments after the 2 p.m. EDT release, markets built solid gains for the rest of the day.</p><p>The Dow Jones Industrial Average    rose 69.86 points, or 0.23%, to 31,037.68, the S&amp;P 500    gained 13.69 points, or 0.36%, to 3,845.08 and the Nasdaq Composite    added 39.61 points, or 0.35%, to 11,361.85.</p><p>Eight of the 11 S&amp;P subsectors closed higher, with utilities and technology leading the way. The biggest outlier was the energy index   , which slipped 1.7% as crude prices fell to a 12-week low on recession fears.</p><p>Elsewhere, Uber Technologies Inc and DoorDash Inc fell 4.5% and 7.4%, respectively, after Amazon.com Inc agreed to take a 2% stake in Just Eat Takeaway.com&#39;s struggling U.S. food delivery business, Grubhub.</p><p>Rivian Automotive Inc gained 10.4% after the electric-vehicle maker&#39;s deliveries nearly quadrupled as it ramped up production.</p><p>Volume on U.S. exchanges was 11.31 billion shares, compared with the 13.08 billion average for the full session over the last 20 trading days.</p><p>The S&amp;P 500 posted 2 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 20 new highs and 109 new lows.</p></body></html>","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>US STOCKS-Wall Street Ends up as Investors Absorb Fed Minutes</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS STOCKS-Wall Street Ends up as Investors Absorb Fed Minutes\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2022-07-07 07:01</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>* Markets endured topsy-turvy trading prior to release</p><p>* Investors watching c.bank&#39;s stance on rate hikes, inflation</p><p>* Uber, DoorDash fall as Just Eat agrees Amazon partnership</p><p>* Indexes up: Dow 0.23%, S&amp;P 0.36%, Nasdaq 0.35%</p><p>Wall Street put a seesaw day behind it to close higher on Wednesday, as investors digested new clues on the U.S. central bank&#39;s approach to rate policy and its inflation fight detailed in the minutes from the latest Federal Reserve meeting.</p><p>After a brutal selloff in global equity markets in the first half of the year, nervous investors are keeping a close watch on central bank actions as they try to assess the impact of aggressive rate hikes on global growth.</p><p>They got their latest data point on Wednesday afternoon, when the minutes of the June 14-15 policy meeting detailed how the U.S. central bank was prompted to make an outsized interest rate increase. The minutes were a firm restatement of the Fed&#39;s intent to get prices under control to address stubborn inflation and concern about lost faith in the central bank&#39;s power.</p><p>The 0.75 percentage-point rate increase which came out of the meeting was the first of that size since 1994. According to the minutes, participants judged that an increase of 50 or 75 basis points would likely be appropriate at the policy meeting later this month.</p><p>Prior to the minutes&#39; publication, investors had been pricing in another 75-basis-point rate increase at the upcoming July 26-27 gathering, meaning the fact that both 50 basis points and 75 basis points remained on the table pointed toward the Fed acknowledging the impact of its rate rises on the economy.</p><p>The minutes reflected participants&#39; concern about rate increases having the potential for a &#34;larger-than-anticipated&#34; impact on economic growth.</p><p>&#34;I think people are heavily focused on the terminal rate of what the Federal Reserve&#39;s increases are, and the 50-75 debate just points towards where you end up,&#34; said Jason Pride, chief investment officer of private wealth at Glenmede.</p><p>He noted that a 50 basis-point hike would point toward a terminal rate of 3%, while 75 basis points indicated a peak of 3.25% or 3.5%. At 3.5% or above, the likelihood of recession is about 50%.</p><p>Prior to the publication of the minutes, all three Wall Street benchmarks had endured a seesaw session, and while there were further swings between positive and negative territory in the moments after the 2 p.m. EDT release, markets built solid gains for the rest of the day.</p><p>The Dow Jones Industrial Average    rose 69.86 points, or 0.23%, to 31,037.68, the S&amp;P 500    gained 13.69 points, or 0.36%, to 3,845.08 and the Nasdaq Composite    added 39.61 points, or 0.35%, to 11,361.85.</p><p>Eight of the 11 S&amp;P subsectors closed higher, with utilities and technology leading the way. The biggest outlier was the energy index   , which slipped 1.7% as crude prices fell to a 12-week low on recession fears.</p><p>Elsewhere, Uber Technologies Inc and DoorDash Inc fell 4.5% and 7.4%, respectively, after Amazon.com Inc agreed to take a 2% stake in Just Eat Takeaway.com&#39;s struggling U.S. food delivery business, Grubhub.</p><p>Rivian Automotive Inc gained 10.4% after the electric-vehicle maker&#39;s deliveries nearly quadrupled as it ramped up production.</p><p>Volume on U.S. exchanges was 11.31 billion shares, compared with the 13.08 billion average for the full session over the last 20 trading days.</p><p>The S&amp;P 500 posted 2 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 20 new highs and 109 new lows.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LABP":"Landos Biopharma, Inc.","BK4548":"巴美列捷福持仓","SQQQ":"纳指三倍做空ETF","BK4532":"文艺复兴科技持仓","BK4554":"元宇宙及AR概念","UDOW":"道指三倍做多ETF-ProShares","QLD":"纳指两倍做多ETF","DXD":"道指两倍做空ETF","UBER":"优步","PSQ":"纳指反向ETF","BK4534":"瑞士信贷持仓","AMZN":"亚马逊","BK4507":"流媒体概念","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","BK4566":"资本集团","BK4007":"制药","DDM":"道指两倍做多ETF",".DJI":"道琼斯","BK4536":"外卖概念","BK4196":"保健护理服务",".IXIC":"NASDAQ Composite","BK4082":"医疗保健设备","BK4524":"宅经济概念","BK4535":"淡马锡持仓","TQQQ":"纳指三倍做多ETF","LHDX":"Lucira Health, Inc.","BK4559":"巴菲特持仓",".SPX":"S&P 500 Index","BK4538":"云计算","BK4527":"明星科技股","SDOW":"道指三倍做空ETF-ProShares","BK4579":"人工智能","QQQ":"纳指100ETF","APR":"Apria, Inc.","BK4550":"红杉资本持仓","BK4503":"景林资产持仓","DOG":"道指反向ETF","BK4122":"互联网与直销零售","BK4551":"寇图资本持仓","BK4022":"陆运","BK4561":"索罗斯持仓","BK4505":"高瓴资本持仓","BK4581":"高盛持仓","DJX":"1/100道琼斯","QID":"纳指两倍做空ETF","SANA":"Sana Biotechnology, Inc.","CGEM":"Cullinan Therapeutics"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2249482475","content_text":"* Markets endured topsy-turvy trading prior to release* Investors watching c.bank's stance on rate hikes, inflation* Uber, DoorDash fall as Just Eat agrees Amazon partnership* Indexes up: Dow 0.23%, S&P 0.36%, Nasdaq 0.35%Wall Street put a seesaw day behind it to close higher on Wednesday, as investors digested new clues on the U.S. central bank's approach to rate policy and its inflation fight detailed in the minutes from the latest Federal Reserve meeting.After a brutal selloff in global equity markets in the first half of the year, nervous investors are keeping a close watch on central bank actions as they try to assess the impact of aggressive rate hikes on global growth.They got their latest data point on Wednesday afternoon, when the minutes of the June 14-15 policy meeting detailed how the U.S. central bank was prompted to make an outsized interest rate increase. The minutes were a firm restatement of the Fed's intent to get prices under control to address stubborn inflation and concern about lost faith in the central bank's power.The 0.75 percentage-point rate increase which came out of the meeting was the first of that size since 1994. According to the minutes, participants judged that an increase of 50 or 75 basis points would likely be appropriate at the policy meeting later this month.Prior to the minutes' publication, investors had been pricing in another 75-basis-point rate increase at the upcoming July 26-27 gathering, meaning the fact that both 50 basis points and 75 basis points remained on the table pointed toward the Fed acknowledging the impact of its rate rises on the economy.The minutes reflected participants' concern about rate increases having the potential for a \"larger-than-anticipated\" impact on economic growth.\"I think people are heavily focused on the terminal rate of what the Federal Reserve's increases are, and the 50-75 debate just points towards where you end up,\" said Jason Pride, chief investment officer of private wealth at Glenmede.He noted that a 50 basis-point hike would point toward a terminal rate of 3%, while 75 basis points indicated a peak of 3.25% or 3.5%. At 3.5% or above, the likelihood of recession is about 50%.Prior to the publication of the minutes, all three Wall Street benchmarks had endured a seesaw session, and while there were further swings between positive and negative territory in the moments after the 2 p.m. EDT release, markets built solid gains for the rest of the day.The Dow Jones Industrial Average    rose 69.86 points, or 0.23%, to 31,037.68, the S&P 500    gained 13.69 points, or 0.36%, to 3,845.08 and the Nasdaq Composite    added 39.61 points, or 0.35%, to 11,361.85.Eight of the 11 S&P subsectors closed higher, with utilities and technology leading the way. The biggest outlier was the energy index   , which slipped 1.7% as crude prices fell to a 12-week low on recession fears.Elsewhere, Uber Technologies Inc and DoorDash Inc fell 4.5% and 7.4%, respectively, after Amazon.com Inc agreed to take a 2% stake in Just Eat Takeaway.com's struggling U.S. food delivery business, Grubhub.Rivian Automotive Inc gained 10.4% after the electric-vehicle maker's deliveries nearly quadrupled as it ramped up production.Volume on U.S. exchanges was 11.31 billion shares, compared with the 13.08 billion average for the full session over the last 20 trading days.The S&P 500 posted 2 new 52-week highs and 29 new lows; the Nasdaq Composite recorded 20 new highs and 109 new lows.","news_type":1},"isVote":1,"tweetType":1,"viewCount":383,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9940141792,"gmtCreate":1677769644016,"gmtModify":1677769648087,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌","listText":"👌","text":"👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9940141792","repostId":"1152493387","repostType":4,"repost":{"id":"1152493387","pubTimestamp":1677771047,"share":"https://ttm.financial/m/news/1152493387?lang=&edition=fundamental","pubTime":"2023-03-02 23:30","market":"us","language":"en","title":"Tesla Investor Day Falls Flat","url":"https://stock-news.laohu8.com/highlight/detail?id=1152493387","media":"Seeking Alpha","summary":"SummaryTesla announces new gigafactory will be located in Mexico.No $25,000 vehicle was shown off at","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Tesla announces new gigafactory will be located in Mexico.</li><li>No $25,000 vehicle was shown off at this event.</li></ul><p>On Wednesday, Tesla (NASDAQ: TSLA) held its highly anticipated Investor Day. Since the event was announced a few months ago, everyone has been waiting to hear about the company&#39;s next generation vehicle platform, as well as other items that will be key for shareholders going forward. Unfortunately, the event turned out to be more hype than anything else, and thus for TSLA stock, it was another &#34;buy the rumor, sell the news&#34; event.</p><p>Perhaps the biggest piece of news was that Tesla is indeed going to build another gigafactory, this time in Mexico. There have been rumors of this location for several weeks now, as local politicians have talked about it coming and various meetings with Tesla CEO Elon Musk have been reported. There was no timeline provided for this project, but this factory will be used for the next generation vehicle platform. It will be built just outside Monterrey in Nuevo León, with Tesla&#39;s official rendering seen below.</p><p><img src=\"https://static.tigerbbs.com/c6393fa0adf88ab0b5ee4f1d70947745\" tg-width=\"640\" tg-height=\"309\" referrerpolicy=\"no-referrer\"/></p><p>Tesla Gigafactory Mexico(Investor Day Presentation)</p><p>As was expected, Tesla&#39;s future plan is about the transitioning the world to sustainable energy. This came with a large math lesson, which can be seen here if you need to know the exact details. However, the keys involve powering the grid with renewable energy sources, increasing the number of electric vehicles in use, and reducing the extraction of minerals. On the EV side, Tesla believes its next generation vehicle can be produced for 50% less, which then will allow it to become more affordable. Part of the reduction in cost is making the production process much simpler. That reduces the time it will take to build the vehicle, which then can allow for higher production over time.</p><p>Investors and consumers had high hopes that Tesla would unveil its $25,000 vehicle at this week&#39;s event. This is a vehicle that Musk has teased for several years now, but it was not shown off here. Management said that this next generation platform will get a proper reveal in the future, but again, there was no timeline provided for when that will be. This more affordable vehicle is expected to be a key part of Tesla&#39;s battle in China against many local brands, so for now the company will be limited to the Model 3 and Y there.</p><p>In an article I had published recently, I discussed how previous statements around full self-driving (&#34;FSD&#34;) capabilities and robo-taxis could lead to significant liabilities for Tesla down the road. There were hopes that more concrete information would be delivered Wednesday about the robo-taxi platform and service, but we didn&#39;t get a lot of details outside of how FSD and Autopilot have improved over the years. There also wasn&#39;t a major discussion about FSD Hardware version 4 or whether or not it is in cars yet, so perhaps an official announcement about that will come in the coming weeks or months.</p><p>Tesla did use the event to show off its latest Cybertruck prototype and focused on some of its key features. Management reiterated that production will start this year, which will be about three years late. However, there was some disappointment that no official timeline was given, and Tesla didn&#39;t update on the price of the vehicle. Mass production won&#39;t occur until 2024 at the earliest, so investors shouldn&#39;t be banking on a major contribution to overall results in the next couple of quarters.</p><p>One of the biggest disappointments for shareholders in the near term was the financial discussion. Tesla CFO Zach Kirkhorn discussed how the company&#39;s working capital needs to bounce around throughout the quarter, and what the cost of this sustainable energy future will cost. As a result, there was no official announcement of a share repurchase plan that would at least offset some of the dilution investors are facing over time. This has been a key part of the bull case in recent months, with some major Tesla fans and investors pushing the company to put its large cash pile to use. For now, however, the plan is to build the business, and then return capital afterwards.</p><p>I have listened to many of Tesla&#39;s presentations and quarterly earnings calls, and this one was perhaps the most painful. The main presentation featured at least 10 key parts and was over two and a half hours long, and I counted at least 17 different executives that spoke. There was a lot of discussion about things that have already happened in Tesla, much of which I don&#39;t think needed to be regurgitated. For example, we didn&#39;t need to hear for a few minutes how a Tesla produces less emissions than a Toyota Corolla. The average investor doesn&#39;t need to know every single detail about how Tesla reacted to some event from several years ago or every last technical specification about certain vehicle components.</p><p>I mentioned that this event was another example of buy the rumor, sell the news. Tesla shares had more than doubled from their early 2023 lows, partially on the hopes for this week&#39;s event. Unfortunately, the lack of critical details on many fronts left investors with a sour taste. As the chart below shows, selling in the after-hours session started almost immediately once the event started, ended with a loss of 5.66% or nearly $11.50 a share.</p><p><img src=\"https://static.tigerbbs.com/abb13f70716e3a9e527c26d3d92b0128\" tg-width=\"640\" tg-height=\"224\" referrerpolicy=\"no-referrer\"/></p><p>Tesla March 1st Trading (CNBC)</p><p>In the end, Tesla&#39;s Investor Day was more fluff than anything else. The company is certainly making progress on some of its goals, but investors wanted to hear more specific details about upcoming products, a potential buyback, etc. The presentation was just too long and wordy for the average investor, which may have fueled some of the selling in the after-hours session. Given the lack of key details, it wouldn&#39;t surprise me if there&#39;s more selling in the near term until Tesla opens things up a bit.</p></body></html>","source":"seekingalpha_fund","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>Tesla Investor Day Falls Flat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Investor Day Falls Flat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-02 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4583634-tesla-investor-day-falls-flat><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla announces new gigafactory will be located in Mexico.No $25,000 vehicle was shown off at this event.On Wednesday, Tesla (NASDAQ: TSLA) held its highly anticipated Investor Day. Since the ...</p>\n\n<a href=\"https://seekingalpha.com/article/4583634-tesla-investor-day-falls-flat\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4583634-tesla-investor-day-falls-flat","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1152493387","content_text":"SummaryTesla announces new gigafactory will be located in Mexico.No $25,000 vehicle was shown off at this event.On Wednesday, Tesla (NASDAQ: TSLA) held its highly anticipated Investor Day. Since the event was announced a few months ago, everyone has been waiting to hear about the company's next generation vehicle platform, as well as other items that will be key for shareholders going forward. Unfortunately, the event turned out to be more hype than anything else, and thus for TSLA stock, it was another \"buy the rumor, sell the news\" event.Perhaps the biggest piece of news was that Tesla is indeed going to build another gigafactory, this time in Mexico. There have been rumors of this location for several weeks now, as local politicians have talked about it coming and various meetings with Tesla CEO Elon Musk have been reported. There was no timeline provided for this project, but this factory will be used for the next generation vehicle platform. It will be built just outside Monterrey in Nuevo León, with Tesla's official rendering seen below.Tesla Gigafactory Mexico(Investor Day Presentation)As was expected, Tesla's future plan is about the transitioning the world to sustainable energy. This came with a large math lesson, which can be seen here if you need to know the exact details. However, the keys involve powering the grid with renewable energy sources, increasing the number of electric vehicles in use, and reducing the extraction of minerals. On the EV side, Tesla believes its next generation vehicle can be produced for 50% less, which then will allow it to become more affordable. Part of the reduction in cost is making the production process much simpler. That reduces the time it will take to build the vehicle, which then can allow for higher production over time.Investors and consumers had high hopes that Tesla would unveil its $25,000 vehicle at this week's event. This is a vehicle that Musk has teased for several years now, but it was not shown off here. Management said that this next generation platform will get a proper reveal in the future, but again, there was no timeline provided for when that will be. This more affordable vehicle is expected to be a key part of Tesla's battle in China against many local brands, so for now the company will be limited to the Model 3 and Y there.In an article I had published recently, I discussed how previous statements around full self-driving (\"FSD\") capabilities and robo-taxis could lead to significant liabilities for Tesla down the road. There were hopes that more concrete information would be delivered Wednesday about the robo-taxi platform and service, but we didn't get a lot of details outside of how FSD and Autopilot have improved over the years. There also wasn't a major discussion about FSD Hardware version 4 or whether or not it is in cars yet, so perhaps an official announcement about that will come in the coming weeks or months.Tesla did use the event to show off its latest Cybertruck prototype and focused on some of its key features. Management reiterated that production will start this year, which will be about three years late. However, there was some disappointment that no official timeline was given, and Tesla didn't update on the price of the vehicle. Mass production won't occur until 2024 at the earliest, so investors shouldn't be banking on a major contribution to overall results in the next couple of quarters.One of the biggest disappointments for shareholders in the near term was the financial discussion. Tesla CFO Zach Kirkhorn discussed how the company's working capital needs to bounce around throughout the quarter, and what the cost of this sustainable energy future will cost. As a result, there was no official announcement of a share repurchase plan that would at least offset some of the dilution investors are facing over time. This has been a key part of the bull case in recent months, with some major Tesla fans and investors pushing the company to put its large cash pile to use. For now, however, the plan is to build the business, and then return capital afterwards.I have listened to many of Tesla's presentations and quarterly earnings calls, and this one was perhaps the most painful. The main presentation featured at least 10 key parts and was over two and a half hours long, and I counted at least 17 different executives that spoke. There was a lot of discussion about things that have already happened in Tesla, much of which I don't think needed to be regurgitated. For example, we didn't need to hear for a few minutes how a Tesla produces less emissions than a Toyota Corolla. The average investor doesn't need to know every single detail about how Tesla reacted to some event from several years ago or every last technical specification about certain vehicle components.I mentioned that this event was another example of buy the rumor, sell the news. Tesla shares had more than doubled from their early 2023 lows, partially on the hopes for this week's event. Unfortunately, the lack of critical details on many fronts left investors with a sour taste. As the chart below shows, selling in the after-hours session started almost immediately once the event started, ended with a loss of 5.66% or nearly $11.50 a share.Tesla March 1st Trading (CNBC)In the end, Tesla's Investor Day was more fluff than anything else. The company is certainly making progress on some of its goals, but investors wanted to hear more specific details about upcoming products, a potential buyback, etc. The presentation was just too long and wordy for the average investor, which may have fueled some of the selling in the after-hours session. Given the lack of key details, it wouldn't surprise me if there's more selling in the near term until Tesla opens things up a bit.","news_type":1},"isVote":1,"tweetType":1,"viewCount":151,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9958585237,"gmtCreate":1673775633630,"gmtModify":1676538884258,"author":{"id":"3546938459174579","authorId":"3546938459174579","name":"JDhope89","avatar":"https://community-static.tradeup.com/news/fa4bfa0d95b3f4b709a4c9b2fcfdd304","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3546938459174579","authorIdStr":"3546938459174579"},"themes":[],"htmlText":"👌👌👌👌👌👌👌👌","listText":"👌👌👌👌👌👌👌👌","text":"👌👌👌👌👌👌👌👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9958585237","isVote":1,"tweetType":1,"viewCount":113,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}