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2021-03-27

Comment & like pls!

Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.

2021-03-25

Like and comment pls

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2021-03-28

Comment and like pls

Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.

2021-03-26

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RLX Technology's quarterly revenue jumps 44.5% QoQ

2021-02-22

Red

If you want to get rich with marijuana stocks, you need to know the crucial difference between U.S. and Canadian companies

2021-03-17

Omg

GameStop stock rose more than 10%

2021-02-10

$Sundial Growers Inc.(SNDL)$to the moon!

2021-04-02

Comment & like pls

Li Auto Inc. March 2021 Delivery Update

2021-03-12

EV!

Why Is Everyone Talking About Electric Vehicle Stocks?

2021-02-22

Red

Bitcoin slips sharply from record highs

2021-02-17

Cool

George Soros Bets on QuantumScape as Palantir Stake Sale Looms

2021-03-30

Like pls!

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2021-03-29

Finally

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2021-03-16

Crypto!

Stocks and Bitcoin could get a $40 billion influx of stimulus cash: At the Open

2021-03-16

D day tmr

Larry McDonald Warns "The Big [Market] Quake Is Coming"

2021-03-02

Long term

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2021-02-22

Roller coaster

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2021-02-13

$ORGANIGRAM HOLD(OGI)$go go

2021-03-17

Omg

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2021-03-16

Oh no!

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Go to Tiger App to see more news

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March 2021 Delivery Update","url":"https://stock-news.laohu8.com/highlight/detail?id=1168930514","media":"globenewswire","summary":"BEIJING, China, April 02, 2021  -- Li Auto Inc.  , an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to rob","content":"<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.</p><p>As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.</p><p><b>About Li Auto Inc.</b></p><p>Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.</p><p>For more information, please visit:<i>http://ir.lixiang.com</i>.</p>","source":"lsy1573717531661","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>Li Auto Inc. 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March 2021 Delivery Update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html><strong>globenewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered...</p>\n\n<a href=\"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车"},"source_url":"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168930514","content_text":"BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.About Li Auto Inc.Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.For more information, please visit:http://ir.lixiang.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355707368,"gmtCreate":1617102108254,"gmtModify":1704801990419,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Like pls!","listText":"Like pls!","text":"Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355707368","repostId":"1154792664","repostType":4,"repost":{"id":"1154792664","pubTimestamp":1617101926,"share":"https://ttm.financial/m/news/1154792664?lang=&edition=fundamental","pubTime":"2021-03-30 18:58","market":"us","language":"en","title":"Cathie Wood Bought 3 High-Growth Tech Stocks That Could Be the Next 10-Baggers","url":"https://stock-news.laohu8.com/highlight/detail?id=1154792664","media":"Motley Fool","summary":"Multibaggers, or stocks that have soared many times past their original investment price, are someth","content":"<p>Multibaggers, or stocks that have soared many times past their original investment price, are something of a holy grail among investors. The rarest of them is the vaunted 10-bagger -- a stock that has increased tenfold from its original cost basis. Stocks with this type ofexplosive growth potentialare elusive.</p><p>If there's one investor with a knack for finding disruptive stocks that could grow many times their original investment, it's Cathie Wood. The founder and CEO of ARK Investment Management proved her mettle when her five flagshipexchange-traded funds(ETFs) each grew by more than 100% last year, beating the broader markets by a country mile.</p><p>In recent weeks, Wall Street has temporarilysoured on high-growth equities, pushing the tech-heavy<b>Nasdaq</b>into correction territory. That hasn't stopped Wood from picking up technology stocks that could deliver game-changing results and eventually find themselves in the exclusive 10-bagger club.</p><p><b>Schrodinger: Providing a speedier path to new drug discovery</b></p><p>Unless you work in the biopharmaceutical industry, you've probably never heard of<b>Schrodinger</b>(NASDAQ:SDGR). The company provides a platform that helps biopharmaceutical companies discover new treatments more quickly than traditional methods. The company'ssoftware-as-a-serviceplatform, which incorporates physics, data analytics, predictive analysis, and artificial intelligence, performs state-of-the-art simulations that lead to quicker and cheaper drug development and the discovery of novel treatment options.</p><p>Backed by Bill Gates, Schrodinger went public early last year, and the small company has had an impressive start. In 2020, revenue grew 26% year over year, driven by software revenue that increased 39%. Gross profit grew 29%, which helps illustrate the scalability of the company's model, though it's currently still unprofitable.</p><p>Its customer metrics are equally impressive. Last year, the number of customers with $1,000 in annual contract value (ACV) grew 16%, while those with ACV of $100,000 grew at 17%. More importantly, however, is that large customers with ACV of more than $1 million grew by 60%, and customer retention clocked in a 99%. If these trends continue, the company has a bright future.</p><p>Wood has been consistently adding to the<b>ARK Genomic Revolution</b>(NYSEMKT:ARKG)ETF's position in Schrodinger. With last week's purchases, the company has become a Top 20 position, representing nearly 2% of the $7.67 billion&nbsp;in assets under management.</p><p>Schrodinger is sitting in the catbird seat, at the heart of the digital transformation of drug discovery, and with a market cap of just $5 billion, it's easy to envision a path where Schrödinger could grow tenfold.</p><p><b>Opendoor Technologies: Embracing the changing face of real estate</b></p><p>The real estate industry is also in the midst of a paradigm shift, as it embraces a digital transformation. For example,<b>Opendoor Technologies</b>(NASDAQ:OPEN)developed an app-based platform that makes buying and selling a home a cinch. Homeowners can sell their property directly to Opendoor, which will then renovate and sell the home at a profit, or they can choose to sell to other buyers, all for a flat fee of 5% of the home's value. By eliminating the need for the traditional real estate agent, the company is carving out a growing and profitable niche for itself. Opendoor drew the attention of special-purpose acquisition company pioneer Chamath Palihapitiya's Social Capital Hedosophia Holdings, which brought Opendoor public late last year.</p><p>Like many real estate companies, Opendoor was initially hit by the pandemic, but it's staging a comeback. While revenue slipped 46% year over year, the company's gross profit margin grew to 8.5% of sales, up from 6.4%. The pandemic-driven housing boom should help Opendoor further scale its business. The company was still unprofitable in 2020, but it cut its net loss by 15%.</p><p><b>ARK Next Generation Internet</b>(NYSEMKT:ARKW)ETF and<b>ARK Fintech Innovation</b>(NYSEMKT:ARKF)both scooped up shares of Opendoor last week. The company is a significant holding for both funds, representing 2.32% and 2.83%, respectively, of the funds' holdings. The digital revolution is still in the early stages in the real estate industry, and with a market cap of just $13 billion, Opendoor could eventually be a 10-bagger from here.</p><p><b>Skillz: A mobile gaming powerhouse</b></p><p><b>Skillz</b>(NYSE:SKLZ)is a relative newcomer to the gaming industry, but it has carved out a growing niche for itself in the area of mobile gaming and esports. The company's platform can turn virtually any mobile game into a competition, where players can accumulate points or compete for cash and prizes. Mobile games have found a large and growing audience over the past year, helping fuel Skillz's popularity.</p><p>For the year ended Dec. 31, revenue grew 92% year over year, while gross profit increased by 91%. The company's net loss worsened by 408%, as Skillz races to add new users. The company has determined that the lifetime value of new members far outstrips the cost of adding them now. This will no doubt increase the leverage of its platform, helping multiply future profits. The strategy is working as new players are flocking to the platform. The number of monthly active users grew 121%, although the average revenue per paying monthly active user slipped by about 12%.</p><p>Mobile gaming is the fastest-growing segment of the gaming industry. It's already a $68 billion business, and the market is expected to climb to $150 billion by 2025. Wood is no doubt keenly aware of the growing market opportunity, as Skillz is a Top 20 holding of the ARK Next Generation Internet ETF, at 1.75% of the $5.27 billion in funds under management. With Skillz's market cap of just $7 billion, it isn't hard to foresee a path for the stock to increase by 10 times its current value.</p><p><img src=\"https://static.tigerbbs.com/a6757c78c75e17af9f7503156bd95297\" tg-width=\"729\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p><b>The fine print</b></p><p>For any of these stocks to become 10-baggers, a lot will have to go right, and plenty could still go wrong to trip them up. Simply put, these nascent businesses have a lot to prove if they want to make the grade over the long term. That said, and given the potential for outsize gains, it isn't surprising that Cathie Wood is increasing ARK's exposure to thesenascent companies. As the preceding chart illustrates, they've also become caught up in the broader sell-off that has plagued tech stocks since early February, making them relative bargains by comparison.</p><p>It's also important to note that none of these companies is yet profitable, and while they're cheaper than they were, they still carry a frothy sticker price -- at least in terms of traditional valuation metrics. Schrodinger, Skillz, and Opendoor are selling for 36, 19, and 3 times sales, respectively -- when a good price-to-sales ratio for a stock is generally between 1 and 2.</p><p>However, investors have thus far been willing to pay up for the disruptive technology and the potential to achieve the 10-bagger status that each of these companies offers.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Cathie Wood Bought 3 High-Growth Tech Stocks That Could Be the Next 10-Baggers</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\">\nCathie Wood Bought 3 High-Growth Tech Stocks That Could Be the Next 10-Baggers\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-30 18:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/30/cathie-wood-bought-3-high-growth-tech-stocks-that/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Multibaggers, or stocks that have soared many times past their original investment price, are something of a holy grail among investors. The rarest of them is the vaunted 10-bagger -- a stock that has...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/30/cathie-wood-bought-3-high-growth-tech-stocks-that/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e9b7efcf2941c835778d2759c1d7a1b3","relate_stocks":{},"source_url":"https://www.fool.com/investing/2021/03/30/cathie-wood-bought-3-high-growth-tech-stocks-that/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154792664","content_text":"Multibaggers, or stocks that have soared many times past their original investment price, are something of a holy grail among investors. The rarest of them is the vaunted 10-bagger -- a stock that has increased tenfold from its original cost basis. Stocks with this type ofexplosive growth potentialare elusive.If there's one investor with a knack for finding disruptive stocks that could grow many times their original investment, it's Cathie Wood. The founder and CEO of ARK Investment Management proved her mettle when her five flagshipexchange-traded funds(ETFs) each grew by more than 100% last year, beating the broader markets by a country mile.In recent weeks, Wall Street has temporarilysoured on high-growth equities, pushing the tech-heavyNasdaqinto correction territory. That hasn't stopped Wood from picking up technology stocks that could deliver game-changing results and eventually find themselves in the exclusive 10-bagger club.Schrodinger: Providing a speedier path to new drug discoveryUnless you work in the biopharmaceutical industry, you've probably never heard ofSchrodinger(NASDAQ:SDGR). The company provides a platform that helps biopharmaceutical companies discover new treatments more quickly than traditional methods. The company'ssoftware-as-a-serviceplatform, which incorporates physics, data analytics, predictive analysis, and artificial intelligence, performs state-of-the-art simulations that lead to quicker and cheaper drug development and the discovery of novel treatment options.Backed by Bill Gates, Schrodinger went public early last year, and the small company has had an impressive start. In 2020, revenue grew 26% year over year, driven by software revenue that increased 39%. Gross profit grew 29%, which helps illustrate the scalability of the company's model, though it's currently still unprofitable.Its customer metrics are equally impressive. Last year, the number of customers with $1,000 in annual contract value (ACV) grew 16%, while those with ACV of $100,000 grew at 17%. More importantly, however, is that large customers with ACV of more than $1 million grew by 60%, and customer retention clocked in a 99%. If these trends continue, the company has a bright future.Wood has been consistently adding to theARK Genomic Revolution(NYSEMKT:ARKG)ETF's position in Schrodinger. With last week's purchases, the company has become a Top 20 position, representing nearly 2% of the $7.67 billion in assets under management.Schrodinger is sitting in the catbird seat, at the heart of the digital transformation of drug discovery, and with a market cap of just $5 billion, it's easy to envision a path where Schrödinger could grow tenfold.Opendoor Technologies: Embracing the changing face of real estateThe real estate industry is also in the midst of a paradigm shift, as it embraces a digital transformation. For example,Opendoor Technologies(NASDAQ:OPEN)developed an app-based platform that makes buying and selling a home a cinch. Homeowners can sell their property directly to Opendoor, which will then renovate and sell the home at a profit, or they can choose to sell to other buyers, all for a flat fee of 5% of the home's value. By eliminating the need for the traditional real estate agent, the company is carving out a growing and profitable niche for itself. Opendoor drew the attention of special-purpose acquisition company pioneer Chamath Palihapitiya's Social Capital Hedosophia Holdings, which brought Opendoor public late last year.Like many real estate companies, Opendoor was initially hit by the pandemic, but it's staging a comeback. While revenue slipped 46% year over year, the company's gross profit margin grew to 8.5% of sales, up from 6.4%. The pandemic-driven housing boom should help Opendoor further scale its business. The company was still unprofitable in 2020, but it cut its net loss by 15%.ARK Next Generation Internet(NYSEMKT:ARKW)ETF andARK Fintech Innovation(NYSEMKT:ARKF)both scooped up shares of Opendoor last week. The company is a significant holding for both funds, representing 2.32% and 2.83%, respectively, of the funds' holdings. The digital revolution is still in the early stages in the real estate industry, and with a market cap of just $13 billion, Opendoor could eventually be a 10-bagger from here.Skillz: A mobile gaming powerhouseSkillz(NYSE:SKLZ)is a relative newcomer to the gaming industry, but it has carved out a growing niche for itself in the area of mobile gaming and esports. The company's platform can turn virtually any mobile game into a competition, where players can accumulate points or compete for cash and prizes. Mobile games have found a large and growing audience over the past year, helping fuel Skillz's popularity.For the year ended Dec. 31, revenue grew 92% year over year, while gross profit increased by 91%. The company's net loss worsened by 408%, as Skillz races to add new users. The company has determined that the lifetime value of new members far outstrips the cost of adding them now. This will no doubt increase the leverage of its platform, helping multiply future profits. The strategy is working as new players are flocking to the platform. The number of monthly active users grew 121%, although the average revenue per paying monthly active user slipped by about 12%.Mobile gaming is the fastest-growing segment of the gaming industry. It's already a $68 billion business, and the market is expected to climb to $150 billion by 2025. Wood is no doubt keenly aware of the growing market opportunity, as Skillz is a Top 20 holding of the ARK Next Generation Internet ETF, at 1.75% of the $5.27 billion in funds under management. With Skillz's market cap of just $7 billion, it isn't hard to foresee a path for the stock to increase by 10 times its current value.The fine printFor any of these stocks to become 10-baggers, a lot will have to go right, and plenty could still go wrong to trip them up. Simply put, these nascent businesses have a lot to prove if they want to make the grade over the long term. That said, and given the potential for outsize gains, it isn't surprising that Cathie Wood is increasing ARK's exposure to thesenascent companies. As the preceding chart illustrates, they've also become caught up in the broader sell-off that has plagued tech stocks since early February, making them relative bargains by comparison.It's also important to note that none of these companies is yet profitable, and while they're cheaper than they were, they still carry a frothy sticker price -- at least in terms of traditional valuation metrics. Schrodinger, Skillz, and Opendoor are selling for 36, 19, and 3 times sales, respectively -- when a good price-to-sales ratio for a stock is generally between 1 and 2.However, investors have thus far been willing to pay up for the disruptive technology and the potential to achieve the 10-bagger status that each of these companies offers.","news_type":1},"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355960642,"gmtCreate":1617024705886,"gmtModify":1704800972846,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Finally","listText":"Finally","text":"Finally","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355960642","repostId":"1155390932","repostType":4,"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352108919,"gmtCreate":1616901679331,"gmtModify":1704799836629,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Comment and like pls","listText":"Comment and like pls","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/352108919","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","pubTimestamp":1616772179,"share":"https://ttm.financial/m/news/1111192234?lang=&edition=fundamental","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p>\n<p>Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p>\n<p>Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p>\n<p>So far the market isn’t feeling charitable. But the sample size is only one stock.</p>\n<p>NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p>\n<p>For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p>\n<p>Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p>\n<p>RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p>\n<p>Spak rates Tesla stock Hold and has a $725 price target for shares.</p>\n<p>In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p>\n<p>Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.</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 Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-26 23:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">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://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352024478,"gmtCreate":1616835738094,"gmtModify":1704799530168,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Comment &amp; like pls!","listText":"Comment &amp; like pls!","text":"Comment & like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/352024478","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","pubTimestamp":1616772179,"share":"https://ttm.financial/m/news/1111192234?lang=&edition=fundamental","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p>\n<p>Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p>\n<p>Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p>\n<p>So far the market isn’t feeling charitable. But the sample size is only one stock.</p>\n<p>NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p>\n<p>For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p>\n<p>Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p>\n<p>RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p>\n<p>Spak rates Tesla stock Hold and has a $725 price target for shares.</p>\n<p>In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p>\n<p>Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.</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 Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-26 23:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">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://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574979473661125","authorId":"3574979473661125","authorIdStr":"3574979473661125","name":"小獭獭","avatar":"https://static.tigerbbs.com/efbd85c02219122d727f3ce8ce3b6f24","crmLevel":3,"crmLevelSwitch":0,"idStr":"3574979473661125"},"content":"Respond Thank you!","text":"Respond Thank you!","html":"Respond Thank you!"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356351539,"gmtCreate":1616758832121,"gmtModify":1704798464221,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/356351539","repostId":"2122473630","repostType":4,"repost":{"id":"2122473630","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":1616751900,"share":"https://ttm.financial/m/news/2122473630?lang=&edition=fundamental","pubTime":"2021-03-26 17:45","market":"us","language":"en","title":"RLX Technology's quarterly revenue jumps 44.5% QoQ","url":"https://stock-news.laohu8.com/highlight/detail?id=2122473630","media":"Tiger Newspress","summary":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYS","content":"<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td><p>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul><p>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><table><tbody><tr><td><p>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><b><u>Balance&nbsp;Sheet</u></b></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><b><u>Business Outlook</u></b></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>RLX Technology's quarterly revenue jumps 44.5% QoQ</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\">\nRLX Technology's quarterly revenue jumps 44.5% QoQ\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\">2021-03-26 17:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td><p>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul><p>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><table><tbody><tr><td><p>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><b><u>Balance&nbsp;Sheet</u></b></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><b><u>Business Outlook</u></b></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2122473630","content_text":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.Fourth Quarter 2020 Financial HighlightsNet revenueswereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.Gross marginwas 42.9%, compared to 39.1% in the third quarter of 2020.Net losswasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net income[1]wasRMB419.3 million(US$64.3 million).[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Financial HighlightsNet revenueswereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.Gross marginwas 40.0% in fiscal year 2020, compared to 37.5% in the prior year.Net losswasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million).\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneeringGuardian Program,introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of ourSunflower System, our technology-driven underage-access-prevention system. In addition, we continued to advance ourGolden Shield Programin cooperation with the public, media and local authorities to combat sales of counterfeit products.\"\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.Closing of Initial Public Offering (\"IPO\")OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.Fourth Quarter 2020 Unaudited Financial ResultsNet revenues increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.Gross profit increased by 58.6% to RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.Gross margin increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.Operating expenses wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0 million in the third quarter of 2020.Selling expensesincreased by 127.0% to RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.General and administrative expenses increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.Research and development expensesincreased by 441.9% to RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1 million (US$100.6 million) in the fourth quarter of 2020 andRMB238.2 million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.Loss from operations wasRMB158.5 million (US$24.3 million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.Income tax expense wasRMB110.6 million (US$17.0 million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.Net loss wasRMB236.7 million (US$36.3 million) in the fourth quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net incomewasRMB419.3 million(US$64.3 million) in the fourth quarter of 2020.Basic and diluted net loss per American depositary share (\"ADS\") were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.Non-GAAP basic and diluted netincome per ADS[2]were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Unaudited Financial ResultsNet revenues increased by 146.5% to RMB3,819.7 million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4 million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.Gross profit increased by 162.9% to RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.Gross margin was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.Operating expenses wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6 million in the prior year.Selling expensesincreased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.General and administrative expenses increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.Research and development expensesincreased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.Income from operationsdecreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.Income tax expense wasRMB230.5 million (US$35.3 million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9 million in the prior year. The increase was primarilydue to an increase in taxable income.Net loss wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million) in fiscal year 2020.Basic and diluted net loss per ADS were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.Non-GAAP basic and diluted netincome per ADSwere bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.Balance SheetAs ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4 million (US$524.4 million), compared toRMB811.7 millionas ofDecember 31, 2019.Business OutlookFor the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin toremain steady.The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358845483,"gmtCreate":1616681869642,"gmtModify":1704797394892,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/358845483","repostId":"1126422288","repostType":4,"repost":{"id":"1126422288","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":1616680822,"share":"https://ttm.financial/m/news/1126422288?lang=&edition=fundamental","pubTime":"2021-03-25 22:00","market":"us","language":"en","title":"Some “meme” stocks rebound","url":"https://stock-news.laohu8.com/highlight/detail?id=1126422288","media":"Tiger Newspress","summary":"Some “meme” stocks rebound in Thursday morning trading.The shares of GameStop is up 11%,Koss is up 9","content":"<p>Some “meme” stocks rebound&nbsp;in Thursday morning trading.The shares of GameStop is up 11%,Koss is up 9%,AMC Entertainment is up 6%.</p><p><img src=\"https://static.tigerbbs.com/2e175596fd8712309d527beb74accde6\" tg-width=\"374\" tg-height=\"662\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Some “meme” stocks rebound</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\">\nSome “meme” stocks rebound\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\">2021-03-25 22:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Some “meme” stocks rebound&nbsp;in Thursday morning trading.The shares of GameStop is up 11%,Koss is up 9%,AMC Entertainment is up 6%.</p><p><img src=\"https://static.tigerbbs.com/2e175596fd8712309d527beb74accde6\" tg-width=\"374\" tg-height=\"662\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线","KOSS":"高斯电子","GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1126422288","content_text":"Some “meme” stocks rebound in Thursday morning trading.The shares of GameStop is up 11%,Koss is up 9%,AMC Entertainment is up 6%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324656713,"gmtCreate":1615990874132,"gmtModify":1704789452488,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324656713","repostId":"1128306547","repostType":4,"repost":{"id":"1128306547","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":1615988989,"share":"https://ttm.financial/m/news/1128306547?lang=&edition=fundamental","pubTime":"2021-03-17 21:49","market":"us","language":"en","title":"GameStop stock rose more than 10%","url":"https://stock-news.laohu8.com/highlight/detail?id=1128306547","media":"Tiger Newspress","summary":"(March 17) GameStop stock rose more than 10%.Ahead of next week's earnings report, Telsey reiterates","content":"<p>(March 17)&nbsp;GameStop stock rose more than 10%.</p><p>Ahead of next week's earnings report, Telsey reiterates its Underperform rating on GameStop on its view that the company has not yet shown financial success.</p><p>\"Looking ahead, GameStop should benefit from: 1) the new gaming cycle, with current demand outpacing supply for new generation Microsoft and Sony consoles; 2) its agreement with RC Ventures and the board refresh; and 3) its healthy balance sheet, with a net cash position of $101MM at the end of 3Q20. However, the company has yet to show financial success in an industry that is rapidly shifting to digital.\"</p><p>Speaking of GameStop's earnings day, the conference call on March 23 at 5:00 p.m. is a must listen for GME longs and shorts.</p><p>Inquiring minds want to know if GameStop is either considering floating new shares to take advantage of hot retail-level demand or buying back shares asBank of America suggested.</p><p>Though GameStop, the poster-WSB/Reddit stock, fell for a second day on Tuesday, leaving it on pace for its worst two days in more than a month.</p><p>This is all happening ahead of the latest Congressional hearing on retail investing and short selling. The House Financial Services Committee will continue its investigation into the short squeeze of meme stocks that occurred in late January, convening seven expert witnesses to weigh in with proposals to reform U.S. market structure. That could help the system avoid a repeat of the events, when Robinhood (RBNHD) and other retail brokers restricted purchases of popular stocks to manage a surge in clearinghouse demands for collateral.</p><p><img src=\"https://static.tigerbbs.com/73faab6d55b37015a43acecf2920df83\" tg-width=\"685\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop stock rose more than 10%</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\">\nGameStop stock rose more than 10%\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\">2021-03-17 21:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(March 17)&nbsp;GameStop stock rose more than 10%.</p><p>Ahead of next week's earnings report, Telsey reiterates its Underperform rating on GameStop on its view that the company has not yet shown financial success.</p><p>\"Looking ahead, GameStop should benefit from: 1) the new gaming cycle, with current demand outpacing supply for new generation Microsoft and Sony consoles; 2) its agreement with RC Ventures and the board refresh; and 3) its healthy balance sheet, with a net cash position of $101MM at the end of 3Q20. However, the company has yet to show financial success in an industry that is rapidly shifting to digital.\"</p><p>Speaking of GameStop's earnings day, the conference call on March 23 at 5:00 p.m. is a must listen for GME longs and shorts.</p><p>Inquiring minds want to know if GameStop is either considering floating new shares to take advantage of hot retail-level demand or buying back shares asBank of America suggested.</p><p>Though GameStop, the poster-WSB/Reddit stock, fell for a second day on Tuesday, leaving it on pace for its worst two days in more than a month.</p><p>This is all happening ahead of the latest Congressional hearing on retail investing and short selling. The House Financial Services Committee will continue its investigation into the short squeeze of meme stocks that occurred in late January, convening seven expert witnesses to weigh in with proposals to reform U.S. market structure. That could help the system avoid a repeat of the events, when Robinhood (RBNHD) and other retail brokers restricted purchases of popular stocks to manage a surge in clearinghouse demands for collateral.</p><p><img src=\"https://static.tigerbbs.com/73faab6d55b37015a43acecf2920df83\" tg-width=\"685\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128306547","content_text":"(March 17) GameStop stock rose more than 10%.Ahead of next week's earnings report, Telsey reiterates its Underperform rating on GameStop on its view that the company has not yet shown financial success.\"Looking ahead, GameStop should benefit from: 1) the new gaming cycle, with current demand outpacing supply for new generation Microsoft and Sony consoles; 2) its agreement with RC Ventures and the board refresh; and 3) its healthy balance sheet, with a net cash position of $101MM at the end of 3Q20. However, the company has yet to show financial success in an industry that is rapidly shifting to digital.\"Speaking of GameStop's earnings day, the conference call on March 23 at 5:00 p.m. is a must listen for GME longs and shorts.Inquiring minds want to know if GameStop is either considering floating new shares to take advantage of hot retail-level demand or buying back shares asBank of America suggested.Though GameStop, the poster-WSB/Reddit stock, fell for a second day on Tuesday, leaving it on pace for its worst two days in more than a month.This is all happening ahead of the latest Congressional hearing on retail investing and short selling. The House Financial Services Committee will continue its investigation into the short squeeze of meme stocks that occurred in late January, convening seven expert witnesses to weigh in with proposals to reform U.S. market structure. That could help the system avoid a repeat of the events, when Robinhood (RBNHD) and other retail brokers restricted purchases of popular stocks to manage a surge in clearinghouse demands for collateral.","news_type":1},"isVote":1,"tweetType":1,"viewCount":204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324656125,"gmtCreate":1615990860267,"gmtModify":1704789452001,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324656125","repostId":"1140170853","repostType":4,"repost":{"id":"1140170853","pubTimestamp":1615989472,"share":"https://ttm.financial/m/news/1140170853?lang=&edition=fundamental","pubTime":"2021-03-17 21:57","market":"us","language":"en","title":"Plug Power to Restate Financials, Stock Plummets","url":"https://stock-news.laohu8.com/highlight/detail?id=1140170853","media":"The Street","summary":"Shares of Plug Power (PLUG) -Get Report plummeted more than 13% on Wednesday, after the fuel-cell co","content":"<p>Shares of Plug Power&nbsp;(<b>PLUG</b>) -Get Report&nbsp;plummeted more than 13% on Wednesday, after the fuel-cell company said it will restate its financial results going back to 2018.</p><p><img src=\"https://static.tigerbbs.com/28a6c7b5b383dfb719c7d2920d6846d5\" tg-width=\"685\" tg-height=\"479\"></p><p>Plug Power said in anews releasewill restate its financial statements for fiscal years 2018 and 2019 and its quarterly filings for 2019 and 2020, which will be disclosed in the Form 10-K for the year ended Dec. 31, 2020.</p><p>KPMG, the company's accounting firm, management and the audit committee of Plug Power’s board of directors \"determined that the company’s prior period financial statements need to be restated due to errors in accounting primarily related to several non-cash items, including:</p><ul><li>The reported book value of right of use assets and related finance obligations;</li><li>Loss accruals for certain service contracts;</li><li>The impairment of certain long-lived assets; and</li><li>The classification of certain costs, resulting in a decrease in research and development expense and a corresponding increase in cost of revenue.</li></ul><p>“The accounting related to the restatement is complex and technical and involves significant judgments in how to apply U.S. GAAP, given the innovative nature of the company’s business and its leading position in a new and rapidly developing industry,” Plug Power said.</p><p>As a result of the corrections, Plug Power will not file its form 10K by Tuesday as planned, it said, but will do so “as soon as possible.”</p><p>After it reported fourth-quarter&nbsp;results&nbsp;in February, the company and&nbsp;KPMG identified the issues, which it said did not “result from any override of controls or misconduct.”</p><p>Shares of Plug Power were up 1,446% over the past year, compared with gains of more than 60% for the S&amp;P 500 index. At the start of March,JP Morgan upgraded the hydrogen fuel cell companyto overweight from neutral.</p><p>Shares fell 8.14% in regular trade Tuesday to close at $42.68. In late trade, the stock was down 11.4% to $37.82.</p><p>On Wall Street Tuesday,stocks finished mixedas the Dow Jones Industrial Average and S&amp;P 500 fell from records and investors turned their attention to the Federal Reserve for the central bank's projections on the economy.</p><p>The Dow Jones Industrial Average finished down 127 points, or 0.39%, to 32,825. The blue-chip index closed higher Monday for a seventh straight session.</p><p><img src=\"https://static.tigerbbs.com/afceffb177ea9e9ae7b19db3068a0ae1\" tg-width=\"685\" tg-height=\"498\" referrerpolicy=\"no-referrer\"></p>","source":"lsy1610613172068","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>Plug Power to Restate Financials, Stock Plummets</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\">\nPlug Power to Restate Financials, Stock Plummets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-17 21:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/plug-power-to-restate-financials-stock-plummets><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Plug Power (PLUG) -Get Report plummeted more than 13% on Wednesday, after the fuel-cell company said it will restate its financial results going back to 2018.Plug Power said in anews ...</p>\n\n<a href=\"https://www.thestreet.com/investing/plug-power-to-restate-financials-stock-plummets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLUG":"普拉格能源"},"source_url":"https://www.thestreet.com/investing/plug-power-to-restate-financials-stock-plummets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140170853","content_text":"Shares of Plug Power (PLUG) -Get Report plummeted more than 13% on Wednesday, after the fuel-cell company said it will restate its financial results going back to 2018.Plug Power said in anews releasewill restate its financial statements for fiscal years 2018 and 2019 and its quarterly filings for 2019 and 2020, which will be disclosed in the Form 10-K for the year ended Dec. 31, 2020.KPMG, the company's accounting firm, management and the audit committee of Plug Power’s board of directors \"determined that the company’s prior period financial statements need to be restated due to errors in accounting primarily related to several non-cash items, including:The reported book value of right of use assets and related finance obligations;Loss accruals for certain service contracts;The impairment of certain long-lived assets; andThe classification of certain costs, resulting in a decrease in research and development expense and a corresponding increase in cost of revenue.“The accounting related to the restatement is complex and technical and involves significant judgments in how to apply U.S. GAAP, given the innovative nature of the company’s business and its leading position in a new and rapidly developing industry,” Plug Power said.As a result of the corrections, Plug Power will not file its form 10K by Tuesday as planned, it said, but will do so “as soon as possible.”After it reported fourth-quarter results in February, the company and KPMG identified the issues, which it said did not “result from any override of controls or misconduct.”Shares of Plug Power were up 1,446% over the past year, compared with gains of more than 60% for the S&P 500 index. At the start of March,JP Morgan upgraded the hydrogen fuel cell companyto overweight from neutral.Shares fell 8.14% in regular trade Tuesday to close at $42.68. In late trade, the stock was down 11.4% to $37.82.On Wall Street Tuesday,stocks finished mixedas the Dow Jones Industrial Average and S&P 500 fell from records and investors turned their attention to the Federal Reserve for the central bank's projections on the economy.The Dow Jones Industrial Average finished down 127 points, or 0.39%, to 32,825. The blue-chip index closed higher Monday for a seventh straight session.","news_type":1},"isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325253951,"gmtCreate":1615903323073,"gmtModify":1704788236114,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Crypto!","listText":"Crypto!","text":"Crypto!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325253951","repostId":"1152144890","repostType":4,"repost":{"id":"1152144890","pubTimestamp":1615900369,"share":"https://ttm.financial/m/news/1152144890?lang=&edition=fundamental","pubTime":"2021-03-16 21:12","market":"us","language":"en","title":"Stocks and Bitcoin could get a $40 billion influx of stimulus cash: At the Open","url":"https://stock-news.laohu8.com/highlight/detail?id=1152144890","media":"seekingalpha","summary":"A slight bid remains in stock futures after late buying on Monday brought about new record closes.\nT","content":"<p>A slight bid remains in stock futures after late buying on Monday brought about new record closes.</p>\n<p>The 10-year Treasury yield is little changed, hovering around 1.6% with the Federal Reserve's two-day policy meeting starting today.</p>\n<p>About $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to&nbsp;growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.</p>\n<p>President Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.</p>\n<p>Looking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.</p>\n<p>Aside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"</p>\n<p>Last year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.</p>\n<p>Today, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.</p>\n<p>(NYSEARCA:SPY)&nbsp;+0.2%premarket,(NASDAQ:QQQ)&nbsp;+0.6%,(NYSEARCA:DIA)&nbsp;+0.1%,(NYSEARCA:TBT)&nbsp;-0.4%,(NASDAQ:TLT)&nbsp;-0.1%</p>\n<p>And as direct stimulus checks start arriving in bank accounts, markets can expect to see a sizable portion of stimulus funds, according to a recent survey.</p>\n<p>Mizuho Securities surveyed 235 people who expect to get checks, with 20% expecting to allocate up to 20% of the checks to Bitcoin (BTC-USD), stocks or both. In addition, 13% would invest up to 80% and 2% would invest 80% of more.</p>\n<p>About 10% of $380B sent out in direct checks could be invested, approaching $40B, according to Mizuho.</p>\n<p>\"Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” Mizuho analysts Dan Dolev and Ryan Coyne wrote in a note, according to MarketWatch.</p>\n<p>As this year's tax refund season gets underway, a portion of those checks, in many cases larger than the $1,400 payments just sent, could also find its way into the markets.</p>\n<p>DataTrek Research notes:</p>\n<p>The average refund size is down just 0.7% from 2020 at $2,990.</p>\n<p>Tax season is off to a slow start, with 25% fewer returns filed, which will delay refund checks.</p>\n<p>The number of refunds is down 32%, more than the decline in returns, which \"points to the possibility that many Americans who customarily get a refund will not receive one this year.\"</p>\n<p>About $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to&nbsp;growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.</p>\n<p>President Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.</p>\n<p>Looking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.</p>\n<p>Aside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"</p>\n<p>Last year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.</p>\n<p>Today, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.</p>\n<p><img src=\"https://static.tigerbbs.com/62b15328d72290261522bedcdec6ab76\" tg-width=\"1168\" tg-height=\"450\"></p>","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>Stocks and Bitcoin could get a $40 billion influx of stimulus cash: At the Open</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\">\nStocks and Bitcoin could get a $40 billion influx of stimulus cash: At the Open\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-16 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3673039-stocks-and-bitcoin-could-get-a-40-billion-influx><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A slight bid remains in stock futures after late buying on Monday brought about new record closes.\nThe 10-year Treasury yield is little changed, hovering around 1.6% with the Federal Reserve's two-day...</p>\n\n<a href=\"https://seekingalpha.com/news/3673039-stocks-and-bitcoin-could-get-a-40-billion-influx\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://seekingalpha.com/news/3673039-stocks-and-bitcoin-could-get-a-40-billion-influx","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1152144890","content_text":"A slight bid remains in stock futures after late buying on Monday brought about new record closes.\nThe 10-year Treasury yield is little changed, hovering around 1.6% with the Federal Reserve's two-day policy meeting starting today.\nAbout $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.\nPresident Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.\nLooking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.\nAside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"\nLast year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.\nToday, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.\n(NYSEARCA:SPY) +0.2%premarket,(NASDAQ:QQQ) +0.6%,(NYSEARCA:DIA) +0.1%,(NYSEARCA:TBT) -0.4%,(NASDAQ:TLT) -0.1%\nAnd as direct stimulus checks start arriving in bank accounts, markets can expect to see a sizable portion of stimulus funds, according to a recent survey.\nMizuho Securities surveyed 235 people who expect to get checks, with 20% expecting to allocate up to 20% of the checks to Bitcoin (BTC-USD), stocks or both. In addition, 13% would invest up to 80% and 2% would invest 80% of more.\nAbout 10% of $380B sent out in direct checks could be invested, approaching $40B, according to Mizuho.\n\"Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” Mizuho analysts Dan Dolev and Ryan Coyne wrote in a note, according to MarketWatch.\nAs this year's tax refund season gets underway, a portion of those checks, in many cases larger than the $1,400 payments just sent, could also find its way into the markets.\nDataTrek Research notes:\nThe average refund size is down just 0.7% from 2020 at $2,990.\nTax season is off to a slow start, with 25% fewer returns filed, which will delay refund checks.\nThe number of refunds is down 32%, more than the decline in returns, which \"points to the possibility that many Americans who customarily get a refund will not receive one this year.\"\nAbout $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.\nPresident Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.\nLooking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.\nAside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"\nLast year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.\nToday, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.","news_type":1},"isVote":1,"tweetType":1,"viewCount":171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325250275,"gmtCreate":1615903288797,"gmtModify":1704788234173,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Oh no!","listText":"Oh no!","text":"Oh no!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325250275","repostId":"1122286945","repostType":4,"repost":{"id":"1122286945","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":1615902195,"share":"https://ttm.financial/m/news/1122286945?lang=&edition=fundamental","pubTime":"2021-03-16 21:43","market":"us","language":"en","title":"GameStop stock drops nearly 15%, after tumbling 16.8% on Monday","url":"https://stock-news.laohu8.com/highlight/detail?id=1122286945","media":"Tiger Newspress","summary":"(March 16) GameStop stock drops nearly 15%, after tumbling 16.8% on Monday. The Reddit favorite vide","content":"<p>(March 16)&nbsp;GameStop stock drops nearly 15%, after tumbling 16.8% on Monday.&nbsp;The Reddit favorite videogame retailer’s stock is still trading more than 10 times higher than it was at the start of the year.</p><p><img src=\"https://static.tigerbbs.com/da1c0801a7e42bda21ddd62a9cd23005\" tg-width=\"724\" tg-height=\"516\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop stock drops nearly 15%, after tumbling 16.8% on Monday</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\">\nGameStop stock drops nearly 15%, after tumbling 16.8% on Monday\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\">2021-03-16 21:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(March 16)&nbsp;GameStop stock drops nearly 15%, after tumbling 16.8% on Monday.&nbsp;The Reddit favorite videogame retailer’s stock is still trading more than 10 times higher than it was at the start of the year.</p><p><img src=\"https://static.tigerbbs.com/da1c0801a7e42bda21ddd62a9cd23005\" tg-width=\"724\" tg-height=\"516\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/1fc1f5e2fa377c378fa230c10e0849a2","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122286945","content_text":"(March 16) GameStop stock drops nearly 15%, after tumbling 16.8% on Monday. The Reddit favorite videogame retailer’s stock is still trading more than 10 times higher than it was at the start of the year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":163,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325250323,"gmtCreate":1615903264362,"gmtModify":1704788233355,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"D day tmr","listText":"D day tmr","text":"D day tmr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325250323","repostId":"1121564086","repostType":4,"repost":{"id":"1121564086","pubTimestamp":1615899026,"share":"https://ttm.financial/m/news/1121564086?lang=&edition=fundamental","pubTime":"2021-03-16 20:50","market":"us","language":"en","title":"Larry McDonald Warns \"The Big [Market] Quake Is Coming\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1121564086","media":"zerohedge","summary":"The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech ","content":"<p>The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the future course of its monetary policy this Wednesday.</p>\n<p><i><b>«The Fed has its back against the wall,»</b></i>says Larry McDonald during a conversation via Zoom. The internationally renowned macro strategist and former senior trader at Lehman Brothers warns that the Federal Reserve has little time to mitigate the explosive situation in the bond and currency markets. Otherwise, he says, the global economy is at risk of another crisis.</p>\n<p>Since last spring, the founder of the independent investment advisor&nbsp;The Bear Traps Report&nbsp;has been&nbsp;recommending investments&nbsp;in the commodity sector, where he believes a new super cycle has begun. He&nbsp;reiterated his recommendation&nbsp;during his last conversation with The Market in late 2020. Today, his call for a big reflation trade has become the consensus on Wall Street.</p>\n<p>In this new interview with The Market/NZZ, which has been edited and condensed for clarity, Larry McDonald tells why he expects the Federal Reserve to resort to yield curve control fairly soon and what that will mean for gold and silver. He also explains why the rotation into commodities and value stocks is only just beginning and where he currently sees the best opportunities for investments.</p>\n<p><b>After the turmoil of the past few weeks, all eyes are on the Federal Reserve. What can investors expect from Wednesday's Fed meeting?</b></p>\n<blockquote>\n <b>We’re at a point where the market is moving way ahead of the Federal Reserve.</b>The Fed is on «outcome-based guidance», but the beast, that serpent in the market, wants more than that. Basically, the market is saying: «The US economy is going to grow 6 or 7% this year, and that will force you to taper in Q3 or Q4.» As investors are pricing in a tapering of the Fed’s asset purchases, financial conditions are tightening; especially in emerging markets, where spreads on credit default swaps are rising. So far, financial conditions are nowhere near extremely dangerous levels. But the problem is everybody thinks we’re in a similar situation as back in 2018.\n</blockquote>\n<p><b>What do you mean by that?</b></p>\n<blockquote>\n Once again, the Fed is playing «Tough Guy»: The market demands a policy pivot, but the Fed is trying to hold on to its path, essentially signaling to investors: «No way, relax». We had a similar set-up in 2013, 2016 and 2018. These were the three most significant monetary policy shifts where market pressures broke the Fed's desired policy path.\n <b>The problem is that back then the Fed had far more rope to play Tough Guy since the economy was stronger. In 2018 for instance</b>, the US economy was creating hundreds of thousands of jobs a month. In contrast, today’s employment-to-population ratio is 3.5 percentage points below January 2020 levels. This means 13 million Americans are outside the labor force. To get back to pre-pandemic levels, the economy has to create more than 540,000 jobs a month for two years.\n</blockquote>\n<p><b>So what does this mean for this week's Fed meeting?</b></p>\n<blockquote>\n <b>The Fed is planet earth’s central bank. Every time they tried to play Tough Guy, they’ve blown up the global economy.</b>This time, the Fed's Tough Guy window is much smaller. In 2018 or 2013 that window was nine to ten months. Now, it’s like two months because the economy is so weak. If they let financial conditions tighten further, they risk a major default cycle.\n <b>The negative multiplier effect of a stronger dollar is much higher to the world economy than the Fed anticipates</b>. They can't afford to let the dollar rip higher, because there is so much dollar denominated debt in the world, so much trade tied to the Greenback. If they blow that up, it will just blow back to the US and force the Fed into a policy shift anyway. It’s like with an oil change at the car repair shop: You can pay now or you can pay later. That’s why the Fed has to pay now.\n</blockquote>\n<p><b>Why?</b></p>\n<blockquote>\n <b>The Fed’s back is against the wall, all points to proactive action on March 17.</b>They must suppress taper fears and cut these risks off, or else they blow up the global economy for the 4th time since 2013. We’re hearing that they’re already getting incoming calls from emerging market central banks right now. If Fed Chairman Jay Powell plays Tough Guy by staying with the current path, without offering further assurances of deeper, more sustainable accommodation, the beast inside the market will keep pushing him until he breaks. We will see a repeat of Q4 2018 and Q1 2019, where the Fed was forced into an utterly embarrassing pivot. One of those is enough for Powell’s legacy, he doesn’t want two.\n</blockquote>\n<p><b>What kind of measures can be expected?</b></p>\n<blockquote>\n <b>Eventually, we will get the taper, but the overwhelming point is other weapons have to come first.</b>A Federal Reserve offering insufficient accommodation places markets in the crosshairs of a risk-off event. The first thing they will try to do is give some hard data points. For example, the US economy has to create 10 million jobs for the Fed to do anything on the balance sheet. Another way they can get out is calendar guidance, but that’s a more sophisticated weaponry. Bottom line, they should just say: «From now until the end of the year QE will continue at $120 billion a month, and we want PCE-inflation to get to between 2 and 2.5% and stay there for 24 months.» With that in place,\n <b>all they have to do is open the door two or three inches for yield curve control, and they can contain the dollar.</b>\n</blockquote>\n<p><b>The last time the Federal Reserve used yield curve control was during the time of World War II. Why would it resort to such a radical measure?</b></p>\n<blockquote>\n <b>Here’s the dirty little secret: Too many Treasury bonds are for sale.</b>There aren’t enough buyers, and that will force the Fed to step in. More than $3.6 trillion of US government paper was issued in 2020 versus $2.9 trillion in the prior year. With the new $1.9 trillion fiscal package coming from Washington, issuance in 2021 is slated to rise to $4 trillion. That’s a lot more than the Fed’s Treasury purchases through QE, so the spread between QE and debt issuance gets much wider. Washington is doing so much fiscal stimulus, I’m confident that this is going to force the Fed into yield curve control by September. If that’s the case, it will pressure the dollar lower and put commodities, value stocks, global cyclicals, materials and emerging markets into rotation overdrive.\n</blockquote>\n<p><b>How come?</b></p>\n<blockquote>\n <b>Yield curve control deployment is the tactical nuclear weaponry.</b>If the Fed throws out yield curve control just as a threat, it will suppress Treasury rates and real yields will go much more negative. Over the last couple of months, the issuance has overpowered inflation expectations. Think of it as a car race: Treasury issuances were driving up yields faster than inflation expectations rose. But if the Fed starts to acknowledge that they are going to bring out new weapons like calendar guidance and yield curve control, then they’re suppressing nominal yields. So if inflation expectations continue to rise, then real yields go big negative – and that’s when gold and silver will take off. I think silver can double from here until early next year. Gold could be up 50%.\n</blockquote>\n<p><b>How can investors best position themselves in this environment?</b></p>\n<blockquote>\n In terms of emerging markets, we’re\n <b>long Chile and Brazil.</b>In Asia, South Korea looks attractive. We also like the KWEB ETF which consists of the big Chinese tech stocks. In the commodity space, we have a position in the XME ETF which owns mainly\n <b>copper and steel names.</b>One of the best companies we own is Teck Resources. This stock is almost like a commodity mutual fund, because the company has exposure to copper, nickel and even energy. Another favorite is Mosaic because in a commodity cycle where you have weather problems around the world,\n <b>agricultural plays are a good bet.</b>\n</blockquote>\n<p><b>What about precious metals?</b></p>\n<blockquote>\n <b>When it comes to precious metals, we love silver miners</b>like Hecla Mining. When the Fed eases its policy, the silver miners will outperform the underlying metal, and they will outperform gold because there is more leverage there.\n</blockquote>\n<p><b>The gold price is down more than 15% since its all-time high in August. What’s the problem?</b></p>\n<blockquote>\n <b>Everyone thinks it’s 2013, so taper fears are sky high for gold. But the Fed cannot repeat its mistakes.</b>They must cap yields if they want to preserve the global economic recovery. Thus, the convexity with gold is very attractive. Every leg lower in real yields will act like a slingshot higher for gold. That’s why we love Newmont. The stock trades at 6x EBITDA with a 4% dividend yield which gives you some downside protection. And remember: The 2011-2016 commodity bust has made the balance sheet of these high quality gold mining companies a lot stronger.\n</blockquote>\n<p><b>President Joe Biden has just signed off on a $1.9 trillion economic program. What are the chances of a second stimulus bill, aimed at infrastructure?</b></p>\n<blockquote>\n It’s important to note that\n <b>a second fiscal deal for 2021 is not a slam dunk.</b>To pass the present $1.9 trillion stimulus bill, the Democrats used reconciliation. It’s a very special trick in US politics, because with reconciliation you don’t need 60 votes to pass a bill in the Senate. All you need is 50 votes. Yet, reconciliation has to be tied to a budget year. This means the next time the Democrats can use it is probably in the fourth quarter, late November or December, and tie it to the following year's budget. So the only way to do an infrastructure bill in the next six months is with a traditional piece of legislation.\n</blockquote>\n<p><b>Is that even possible, given how wide the rift between Republicans and Democrats has opened in recent years?</b></p>\n<blockquote>\n For that you need essentially ten Republicans. Right now, the centrists on the Hill, people like Mitt Romney on the Republican side or Joe Manchin on the Democrat side, are the most powerful people in Washington. They want to do an infrastructure program, but they want to finance it with tax revenue. They don’t believe in things like Modern Monetary Theory where the Fed is financing the deficit.\n <b>So you are going to need a tax hike. And in this regard, we’re hearing they could go after some type of flat tax on the FAANGs, the big technology companies.</b>\n</blockquote>\n<p><b>What does this mean for Apple, Google, Facebook and other tech heavyweights?</b></p>\n<blockquote>\n Keep in mind, we’re in a populist revolution:\n <b>The risk of inequality leading to social unrest is high, and that puts pressure on politicians to pass bills to tax the rich.</b>But a wealth tax is extremely complicated, it would take years. The simplest way to do something in terms of taxes is to tax larger companies. In the eighties, the top 100 companies in the US maintained about 45 to 50% of total profits. Today, the largest 20 companies command about 85 to 90%. In addition to that, close to 40% of the S&amp;P 500’s market cap is related to tech. So tech is the low hanging fruit for the populists in Congress to go after.\n</blockquote>\n<p><b>One more reason why tech stocks remain under pressure?</b></p>\n<blockquote>\n We run a bunch of models. For example, we look at Berkshire Hathaway’s share price versus the Nasdaq 100 or the Dow Jones Industrial versus the Nasdaq. March 8th was the second time in 2021 that the Nasdaq closed down 2% with the Dow closing higher.\n <b>We haven’t seen this type of data since the dotcom crash. It’s a very rare event which historically coincides with a longer-term rotation out of technology stocks. That’s a very encouraging signal for value stocks.</b>In this regard, we like the EWU ETF. It’s a wonderful basket of stocks because it’s full of financials and world class names like BP, Rio Tinto or Glencore. Officially, it’s called the United Kingdom ETF, but it’s more like a global value ETF.\n</blockquote>\n<p><b>Does this mean that the rotation towards cyclical stocks has only just begun?</b></p>\n<blockquote>\n <b>Many investors around the world are long a portfolio of stocks that was designed for the deflationary environment of the previous decade.</b>The decade ahead of us - with all what’s ahead in terms of fiscal and monetary stimulus, populism, regulation and taxes - will push investors toward more globally value related stocks. That’s where the best returns are going to be.\n</blockquote>\n<p><b>So the previously successful «buy the dip» strategy of simply buying more tech stocks after every decline no longer works?</b></p>\n<blockquote>\n <b>The potency of dip-buying is in decay mode.</b>Global value is really starting to kick tech in the teeth, and when that happens, it wakes up what's called «real money». Keep in mind: There is fast money, mostly hedge funds which are nimble and make quick moves. In contrast, real money moves slowly. Those types of investors don’t make asset allocation decisions quickly. They base their decisions on committees and all kinds of meetings. As a result, tectonic plates are shifting beneath our feet. We’ve seen tremors after tremors where value is starting to crush growth, and now the earthquake is coming. At Bear Traps, we have a Bloomberg chat with 650 institutional investors, and I can tell just by these conversations, that the real money is starting to move.\n <b>And when the real money moves, that’s when the big quake happens.</b>\n</blockquote>\n<p><b>What kind of dislocations will this cause?</b></p>\n<blockquote>\n <b>Tech will probably be down 30 to 40% sometime between now and the end of October.</b>Today, the market cap of the Nasdaq 100 is close to $12 trillion, but most large-cap tech stocks are unchanged since July last year, while commodity and value-related equities are up 20 to 50%. In the US, if you talk to a hundred high-net-worth families, every one of those families owns Apple, Google, Facebook and Amazon. But look what’s happening: Amazon’s stock is flat since the 4th of July 2020. That's $1.5 trillion of dead money. Last Friday, Amazon failed at the 200-day moving average again.\n <b>This is like Mike Tyson getting defeated by Buster Douglas, one of the greatest upsets in sports history. This psychology is moving through the market, pushing the capital migration process into value and commodity plays.</b>\n</blockquote>\n<p><b>However, investments in commodities are mostly not compliant with the trend towards ESG standards; especially when it comes to CO2 emissions.</b></p>\n<blockquote>\n <b>The best ESG trade on the board is nuclear power. The largest uranium company in the US is Cameco with a $7 market cap.</b>Think about that relative to Elon Musk’s net worth! I support the Green New Deal, but this needs time, because solar and wind are still too far away to produce the amount of energy needed around the world, especially in India and China. The only way to meet that demand is through nuclear power. Uranium is coming out of a ten-year bear market, and it’s going into a massive new bull market. All the contracts between power plants and uranium producers are going to be adjusted. That’s why we like the URA ETF which owns companies like Cameco. I see some of these companies as six baggers: 500% upside potential and 30 to 40% downside risk, because uranium is still a risky commodity.\n</blockquote>\n<p><b>In our&nbsp;last conversation, you recommended investments in the energy sector. Since then, names such as Chevron, Royal Dutch Shell or Exxon Mobil have advanced 25 to 60%. What do you advise investors to do now?</b></p>\n<blockquote>\n <b>For now, we’ve cut our energy book:</b>We’ve sold half of our shares in Chevron, and we’ve sold two thirds of our positions in Exxon Mobil and in the XLE ETF. What happens when you get into the fourth, fifth and sixth innings of a commodity cycle, tertiary sectors like metallurgical coal become more attractive. Sure, met coal, also known as coking coal, is not ESG friendly, but there is no way around it for steel production and hence the construction of skyscrapers, bridges and things like that. So coming into this infrastructure boom all around the world, coal has plenty of upside. That’s why we own names like Arch Resources and Peabody Energy. They’re low-leveraged, and really cheap, once again, on a risk/reward basis.\n</blockquote>\n<p><b>What are the biggest dangers to watch out for in the coming weeks and months?</b></p>\n<blockquote>\n <b>One spot to watch are all these forbearance deals in commercial real estate.</b>When we come out of Covid and the vaccines and the stimulus money are juicing through the economy, the market will be forcing the release of the forbearance on a lot of these loans. So if people don’t come back fast enough to the cities, these commercial real estate loans are going to get reset. This would mean some big defaults, and the banks own a lot of these loans. Also, a lot of leveraged loans are really rich. And then, there is potentially a fiscal cliff:\n <b>The sustainability of the $1.9 trillion stimulus package isn’t that great because a lot of it is just transfer payments replacing lost income for people staying at home. That’s why the US needs a second stimulus bill. If we don’t get a second bill, we are going to have a problem in about a year from now.</b>\n</blockquote>","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>Larry McDonald Warns \"The Big [Market] Quake Is Coming\"</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\">\nLarry McDonald Warns \"The Big [Market] Quake Is Coming\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-16 20:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121564086","content_text":"The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the future course of its monetary policy this Wednesday.\n«The Fed has its back against the wall,»says Larry McDonald during a conversation via Zoom. The internationally renowned macro strategist and former senior trader at Lehman Brothers warns that the Federal Reserve has little time to mitigate the explosive situation in the bond and currency markets. Otherwise, he says, the global economy is at risk of another crisis.\nSince last spring, the founder of the independent investment advisor The Bear Traps Report has been recommending investments in the commodity sector, where he believes a new super cycle has begun. He reiterated his recommendation during his last conversation with The Market in late 2020. Today, his call for a big reflation trade has become the consensus on Wall Street.\nIn this new interview with The Market/NZZ, which has been edited and condensed for clarity, Larry McDonald tells why he expects the Federal Reserve to resort to yield curve control fairly soon and what that will mean for gold and silver. He also explains why the rotation into commodities and value stocks is only just beginning and where he currently sees the best opportunities for investments.\nAfter the turmoil of the past few weeks, all eyes are on the Federal Reserve. What can investors expect from Wednesday's Fed meeting?\n\nWe’re at a point where the market is moving way ahead of the Federal Reserve.The Fed is on «outcome-based guidance», but the beast, that serpent in the market, wants more than that. Basically, the market is saying: «The US economy is going to grow 6 or 7% this year, and that will force you to taper in Q3 or Q4.» As investors are pricing in a tapering of the Fed’s asset purchases, financial conditions are tightening; especially in emerging markets, where spreads on credit default swaps are rising. So far, financial conditions are nowhere near extremely dangerous levels. But the problem is everybody thinks we’re in a similar situation as back in 2018.\n\nWhat do you mean by that?\n\n Once again, the Fed is playing «Tough Guy»: The market demands a policy pivot, but the Fed is trying to hold on to its path, essentially signaling to investors: «No way, relax». We had a similar set-up in 2013, 2016 and 2018. These were the three most significant monetary policy shifts where market pressures broke the Fed's desired policy path.\n The problem is that back then the Fed had far more rope to play Tough Guy since the economy was stronger. In 2018 for instance, the US economy was creating hundreds of thousands of jobs a month. In contrast, today’s employment-to-population ratio is 3.5 percentage points below January 2020 levels. This means 13 million Americans are outside the labor force. To get back to pre-pandemic levels, the economy has to create more than 540,000 jobs a month for two years.\n\nSo what does this mean for this week's Fed meeting?\n\nThe Fed is planet earth’s central bank. Every time they tried to play Tough Guy, they’ve blown up the global economy.This time, the Fed's Tough Guy window is much smaller. In 2018 or 2013 that window was nine to ten months. Now, it’s like two months because the economy is so weak. If they let financial conditions tighten further, they risk a major default cycle.\n The negative multiplier effect of a stronger dollar is much higher to the world economy than the Fed anticipates. They can't afford to let the dollar rip higher, because there is so much dollar denominated debt in the world, so much trade tied to the Greenback. If they blow that up, it will just blow back to the US and force the Fed into a policy shift anyway. It’s like with an oil change at the car repair shop: You can pay now or you can pay later. That’s why the Fed has to pay now.\n\nWhy?\n\nThe Fed’s back is against the wall, all points to proactive action on March 17.They must suppress taper fears and cut these risks off, or else they blow up the global economy for the 4th time since 2013. We’re hearing that they’re already getting incoming calls from emerging market central banks right now. If Fed Chairman Jay Powell plays Tough Guy by staying with the current path, without offering further assurances of deeper, more sustainable accommodation, the beast inside the market will keep pushing him until he breaks. We will see a repeat of Q4 2018 and Q1 2019, where the Fed was forced into an utterly embarrassing pivot. One of those is enough for Powell’s legacy, he doesn’t want two.\n\nWhat kind of measures can be expected?\n\nEventually, we will get the taper, but the overwhelming point is other weapons have to come first.A Federal Reserve offering insufficient accommodation places markets in the crosshairs of a risk-off event. The first thing they will try to do is give some hard data points. For example, the US economy has to create 10 million jobs for the Fed to do anything on the balance sheet. Another way they can get out is calendar guidance, but that’s a more sophisticated weaponry. Bottom line, they should just say: «From now until the end of the year QE will continue at $120 billion a month, and we want PCE-inflation to get to between 2 and 2.5% and stay there for 24 months.» With that in place,\n all they have to do is open the door two or three inches for yield curve control, and they can contain the dollar.\n\nThe last time the Federal Reserve used yield curve control was during the time of World War II. Why would it resort to such a radical measure?\n\nHere’s the dirty little secret: Too many Treasury bonds are for sale.There aren’t enough buyers, and that will force the Fed to step in. More than $3.6 trillion of US government paper was issued in 2020 versus $2.9 trillion in the prior year. With the new $1.9 trillion fiscal package coming from Washington, issuance in 2021 is slated to rise to $4 trillion. That’s a lot more than the Fed’s Treasury purchases through QE, so the spread between QE and debt issuance gets much wider. Washington is doing so much fiscal stimulus, I’m confident that this is going to force the Fed into yield curve control by September. If that’s the case, it will pressure the dollar lower and put commodities, value stocks, global cyclicals, materials and emerging markets into rotation overdrive.\n\nHow come?\n\nYield curve control deployment is the tactical nuclear weaponry.If the Fed throws out yield curve control just as a threat, it will suppress Treasury rates and real yields will go much more negative. Over the last couple of months, the issuance has overpowered inflation expectations. Think of it as a car race: Treasury issuances were driving up yields faster than inflation expectations rose. But if the Fed starts to acknowledge that they are going to bring out new weapons like calendar guidance and yield curve control, then they’re suppressing nominal yields. So if inflation expectations continue to rise, then real yields go big negative – and that’s when gold and silver will take off. I think silver can double from here until early next year. Gold could be up 50%.\n\nHow can investors best position themselves in this environment?\n\n In terms of emerging markets, we’re\n long Chile and Brazil.In Asia, South Korea looks attractive. We also like the KWEB ETF which consists of the big Chinese tech stocks. In the commodity space, we have a position in the XME ETF which owns mainly\n copper and steel names.One of the best companies we own is Teck Resources. This stock is almost like a commodity mutual fund, because the company has exposure to copper, nickel and even energy. Another favorite is Mosaic because in a commodity cycle where you have weather problems around the world,\n agricultural plays are a good bet.\n\nWhat about precious metals?\n\nWhen it comes to precious metals, we love silver minerslike Hecla Mining. When the Fed eases its policy, the silver miners will outperform the underlying metal, and they will outperform gold because there is more leverage there.\n\nThe gold price is down more than 15% since its all-time high in August. What’s the problem?\n\nEveryone thinks it’s 2013, so taper fears are sky high for gold. But the Fed cannot repeat its mistakes.They must cap yields if they want to preserve the global economic recovery. Thus, the convexity with gold is very attractive. Every leg lower in real yields will act like a slingshot higher for gold. That’s why we love Newmont. The stock trades at 6x EBITDA with a 4% dividend yield which gives you some downside protection. And remember: The 2011-2016 commodity bust has made the balance sheet of these high quality gold mining companies a lot stronger.\n\nPresident Joe Biden has just signed off on a $1.9 trillion economic program. What are the chances of a second stimulus bill, aimed at infrastructure?\n\n It’s important to note that\n a second fiscal deal for 2021 is not a slam dunk.To pass the present $1.9 trillion stimulus bill, the Democrats used reconciliation. It’s a very special trick in US politics, because with reconciliation you don’t need 60 votes to pass a bill in the Senate. All you need is 50 votes. Yet, reconciliation has to be tied to a budget year. This means the next time the Democrats can use it is probably in the fourth quarter, late November or December, and tie it to the following year's budget. So the only way to do an infrastructure bill in the next six months is with a traditional piece of legislation.\n\nIs that even possible, given how wide the rift between Republicans and Democrats has opened in recent years?\n\n For that you need essentially ten Republicans. Right now, the centrists on the Hill, people like Mitt Romney on the Republican side or Joe Manchin on the Democrat side, are the most powerful people in Washington. They want to do an infrastructure program, but they want to finance it with tax revenue. They don’t believe in things like Modern Monetary Theory where the Fed is financing the deficit.\n So you are going to need a tax hike. And in this regard, we’re hearing they could go after some type of flat tax on the FAANGs, the big technology companies.\n\nWhat does this mean for Apple, Google, Facebook and other tech heavyweights?\n\n Keep in mind, we’re in a populist revolution:\n The risk of inequality leading to social unrest is high, and that puts pressure on politicians to pass bills to tax the rich.But a wealth tax is extremely complicated, it would take years. The simplest way to do something in terms of taxes is to tax larger companies. In the eighties, the top 100 companies in the US maintained about 45 to 50% of total profits. Today, the largest 20 companies command about 85 to 90%. In addition to that, close to 40% of the S&P 500’s market cap is related to tech. So tech is the low hanging fruit for the populists in Congress to go after.\n\nOne more reason why tech stocks remain under pressure?\n\n We run a bunch of models. For example, we look at Berkshire Hathaway’s share price versus the Nasdaq 100 or the Dow Jones Industrial versus the Nasdaq. March 8th was the second time in 2021 that the Nasdaq closed down 2% with the Dow closing higher.\n We haven’t seen this type of data since the dotcom crash. It’s a very rare event which historically coincides with a longer-term rotation out of technology stocks. That’s a very encouraging signal for value stocks.In this regard, we like the EWU ETF. It’s a wonderful basket of stocks because it’s full of financials and world class names like BP, Rio Tinto or Glencore. Officially, it’s called the United Kingdom ETF, but it’s more like a global value ETF.\n\nDoes this mean that the rotation towards cyclical stocks has only just begun?\n\nMany investors around the world are long a portfolio of stocks that was designed for the deflationary environment of the previous decade.The decade ahead of us - with all what’s ahead in terms of fiscal and monetary stimulus, populism, regulation and taxes - will push investors toward more globally value related stocks. That’s where the best returns are going to be.\n\nSo the previously successful «buy the dip» strategy of simply buying more tech stocks after every decline no longer works?\n\nThe potency of dip-buying is in decay mode.Global value is really starting to kick tech in the teeth, and when that happens, it wakes up what's called «real money». Keep in mind: There is fast money, mostly hedge funds which are nimble and make quick moves. In contrast, real money moves slowly. Those types of investors don’t make asset allocation decisions quickly. They base their decisions on committees and all kinds of meetings. As a result, tectonic plates are shifting beneath our feet. We’ve seen tremors after tremors where value is starting to crush growth, and now the earthquake is coming. At Bear Traps, we have a Bloomberg chat with 650 institutional investors, and I can tell just by these conversations, that the real money is starting to move.\n And when the real money moves, that’s when the big quake happens.\n\nWhat kind of dislocations will this cause?\n\nTech will probably be down 30 to 40% sometime between now and the end of October.Today, the market cap of the Nasdaq 100 is close to $12 trillion, but most large-cap tech stocks are unchanged since July last year, while commodity and value-related equities are up 20 to 50%. In the US, if you talk to a hundred high-net-worth families, every one of those families owns Apple, Google, Facebook and Amazon. But look what’s happening: Amazon’s stock is flat since the 4th of July 2020. That's $1.5 trillion of dead money. Last Friday, Amazon failed at the 200-day moving average again.\n This is like Mike Tyson getting defeated by Buster Douglas, one of the greatest upsets in sports history. This psychology is moving through the market, pushing the capital migration process into value and commodity plays.\n\nHowever, investments in commodities are mostly not compliant with the trend towards ESG standards; especially when it comes to CO2 emissions.\n\nThe best ESG trade on the board is nuclear power. The largest uranium company in the US is Cameco with a $7 market cap.Think about that relative to Elon Musk’s net worth! I support the Green New Deal, but this needs time, because solar and wind are still too far away to produce the amount of energy needed around the world, especially in India and China. The only way to meet that demand is through nuclear power. Uranium is coming out of a ten-year bear market, and it’s going into a massive new bull market. All the contracts between power plants and uranium producers are going to be adjusted. That’s why we like the URA ETF which owns companies like Cameco. I see some of these companies as six baggers: 500% upside potential and 30 to 40% downside risk, because uranium is still a risky commodity.\n\nIn our last conversation, you recommended investments in the energy sector. Since then, names such as Chevron, Royal Dutch Shell or Exxon Mobil have advanced 25 to 60%. What do you advise investors to do now?\n\nFor now, we’ve cut our energy book:We’ve sold half of our shares in Chevron, and we’ve sold two thirds of our positions in Exxon Mobil and in the XLE ETF. What happens when you get into the fourth, fifth and sixth innings of a commodity cycle, tertiary sectors like metallurgical coal become more attractive. Sure, met coal, also known as coking coal, is not ESG friendly, but there is no way around it for steel production and hence the construction of skyscrapers, bridges and things like that. So coming into this infrastructure boom all around the world, coal has plenty of upside. That’s why we own names like Arch Resources and Peabody Energy. They’re low-leveraged, and really cheap, once again, on a risk/reward basis.\n\nWhat are the biggest dangers to watch out for in the coming weeks and months?\n\nOne spot to watch are all these forbearance deals in commercial real estate.When we come out of Covid and the vaccines and the stimulus money are juicing through the economy, the market will be forcing the release of the forbearance on a lot of these loans. So if people don’t come back fast enough to the cities, these commercial real estate loans are going to get reset. This would mean some big defaults, and the banks own a lot of these loans. Also, a lot of leveraged loans are really rich. And then, there is potentially a fiscal cliff:\n The sustainability of the $1.9 trillion stimulus package isn’t that great because a lot of it is just transfer payments replacing lost income for people staying at home. That’s why the US needs a second stimulus bill. If we don’t get a second bill, we are going to have a problem in about a year from now.","news_type":1},"isVote":1,"tweetType":1,"viewCount":257,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328705281,"gmtCreate":1615557719843,"gmtModify":1704784516218,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"EV!","listText":"EV!","text":"EV!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328705281","repostId":"2118912950","repostType":4,"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":365494724,"gmtCreate":1614768171668,"gmtModify":1704774961486,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/365494724","repostId":"2114304730","repostType":2,"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362567486,"gmtCreate":1614650443345,"gmtModify":1704773519086,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Long term","listText":"Long term","text":"Long term","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/362567486","repostId":"2116550361","repostType":4,"repost":{"id":"2116550361","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1614639720,"share":"https://ttm.financial/m/news/2116550361?lang=&edition=fundamental","pubTime":"2021-03-02 07:02","market":"us","language":"en","title":"Nio's sales top $2 billion in 'transformational' year","url":"https://stock-news.laohu8.com/highlight/detail?id=2116550361","media":"Dow Jones","summary":"Nio guides for first-quarter sales of up to 25,000 vehiclesNio Inc.'s American depositary receipts f","content":"<p>Nio guides for first-quarter sales of up to 25,000 vehicles</p><p>Nio Inc.'s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported mixed fourth-quarter results and said revenue for a \"transformational\" 2020 topped $2 billion.</p><p>Nio <a href=\"https://laohu8.com/S/NIO\">$(NIO)$</a> said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB2.8 billion in the year-ago period. Excluding <a href=\"https://laohu8.com/S/AONE\">one</a>-time items, Nio lost $203.6 million, or 14 cents a share.</p><p>Fourth-quarter revenue jumped 133% to $1.02 billion, the company said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.</p><p>Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $1.025 billion.</p><p>Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.</p><p>For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.</p><p>Fourth-quarter deliveries were a record for the company and concluded \"a transformational 2020,\" founder and Chief Executive William Li said in a statement. That momentum has continued into 2021, he said.</p><p>The company guided for the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase between 15% and 18% from the fourth quarter's deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.</p><p>Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared with 32% for the S&amp;P 500 index .</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nio's sales top $2 billion in 'transformational' year</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\">\nNio's sales top $2 billion in 'transformational' year\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-03-02 07:02</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Nio guides for first-quarter sales of up to 25,000 vehicles</p><p>Nio Inc.'s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported mixed fourth-quarter results and said revenue for a \"transformational\" 2020 topped $2 billion.</p><p>Nio <a href=\"https://laohu8.com/S/NIO\">$(NIO)$</a> said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB2.8 billion in the year-ago period. Excluding <a href=\"https://laohu8.com/S/AONE\">one</a>-time items, Nio lost $203.6 million, or 14 cents a share.</p><p>Fourth-quarter revenue jumped 133% to $1.02 billion, the company said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.</p><p>Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $1.025 billion.</p><p>Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.</p><p>For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.</p><p>Fourth-quarter deliveries were a record for the company and concluded \"a transformational 2020,\" founder and Chief Executive William Li said in a statement. That momentum has continued into 2021, he said.</p><p>The company guided for the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase between 15% and 18% from the fourth quarter's deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.</p><p>Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared with 32% for the S&amp;P 500 index .</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2116550361","content_text":"Nio guides for first-quarter sales of up to 25,000 vehiclesNio Inc.'s American depositary receipts fell more than 3% in the extended session Monday after the China-based electric-car maker reported mixed fourth-quarter results and said revenue for a \"transformational\" 2020 topped $2 billion.Nio $(NIO)$ said it lost RMB1.39 billion ($212.8 million) in the quarter, or 16 cents per ADR, compared with a loss of RMB2.8 billion in the year-ago period. Excluding one-time items, Nio lost $203.6 million, or 14 cents a share.Fourth-quarter revenue jumped 133% to $1.02 billion, the company said. Revenue for the full-year 2020 rose 108% to $2.49 billion, Nio said.Analysts polled by FactSet had expected a quarterly loss of 6 cents per ADR on sales of $1.025 billion.Nio said it delivered 17,353 vehicles in the quarter, including 7,574 of its mid-size SUV, the ES6. That compares with 8,224 vehicles in the fourth quarter of 2019.For the full-year 2020, it delivered 43,728 vehicles, from 20,565 vehicles in 2019.Fourth-quarter deliveries were a record for the company and concluded \"a transformational 2020,\" founder and Chief Executive William Li said in a statement. That momentum has continued into 2021, he said.The company guided for the delivery of about 20,000 to 20,500 vehicles in the first quarter, which would be an increase between 15% and 18% from the fourth quarter's deliveries. It guided for revenue between $1.13 billion and $1.16 billion for the quarter.Shares of Nio ended the regular trading day up nearly 9%. For the past 12 months, the stock has gained 1,100%, compared with 32% for the S&P 500 index .","news_type":1},"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":362564470,"gmtCreate":1614650371690,"gmtModify":1704773517795,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/362564470","repostId":"2116855069","repostType":2,"isVote":1,"tweetType":1,"viewCount":95,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":368633806,"gmtCreate":1614315653505,"gmtModify":1704770562317,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Red","listText":"Red","text":"Red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/368633806","repostId":"1125238969","repostType":2,"repost":{"id":"1125238969","pubTimestamp":1614311542,"share":"https://ttm.financial/m/news/1125238969?lang=&edition=fundamental","pubTime":"2021-02-26 11:52","market":"fut","language":"en","title":"Bitcoin May Be Weighing on Tech Stocks Again","url":"https://stock-news.laohu8.com/highlight/detail?id=1125238969","media":"Barrons","summary":"“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.Semiconductor makerN","content":"<p>“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.</p><p>Semiconductor makerNvidia(ticker: NVDA) was down 8.2%, at $532.3, in recent trading amid a broader rout in the tech-heavyNasdaq Compositeindex. The chip stock stands out because the company issueda strong earnings reportWednesday, including a lift from products related to Bitcoin and other cryptocurrencies.</p><p>Payments app&nbsp;Square(SQ), meanwhile, also continued its slide, down 4.3%, at $227.11. The company’srelatively strong&nbsp;earnings report on Tuesday included investments and operational gains from Bitcoin, and the firm said it plans to “double down” on the digital coin. That may be weighing on the stock, which is down nearly 20% in the last few sessions as&nbsp;Bitcoin prices have slumped.</p><p>Tech is under pressure for other reasons: Steep valuations have made the sector vulnerable to weakness in company forecasts. Rising bond yields pose a threat by pressuring the present value of future cash flows. Big Tech is also a crowded trade that could be losing favor as investors look for more-cyclical exposure or sectors with lower valuations.</p><p>But the trading patterns in Nvidia, Square,Tesla(TSLA), and other stocks may also be a sign of Bitcoin’s growing influence. Companies are plowing capital into Bitcoin directly and related products and services, expanding exposure at a time when prices have skyrocketed more than 350% in the past year. Despite its recent slide, Bitcoin is still up 67% this year.</p><p>Crypto is&nbsp;certainly gathering momentum.Mastercard&nbsp;(MA) said this month that it would start supporting cryptocurrencies directly on its network, noting that many consumers are already using cards to buy crypto assets. But it would still be a stretch to turn Bitcoin into a viable currency for everyday purchases, a&nbsp;Mastercard&nbsp;executive noted at a conference on Thursday.</p><p>“Bitcoin doesn’t behave like a payment instrument,” said Mastercard Executive Vice Chair Ann Cairns, according to a&nbsp;report&nbsp;on MarketWatch. “It’s too volatile and it takes too long to transact.”</p><p>Whether it becomes an asset class or payment instrument, the rise (and potential fall) of Bitcoin is ripping through corners of tech, banking, and other sectors.</p><p>Nvidia, for instance, issued animpressiveearnings report, as<i>Barron’s</i>noted. But it’s also becoming more of a crypto play.</p><p>The company said crypto may have had a $100 million to $300 million positive impact in the quarter. The firm is launching a new line of cryptocurrency mining processors, or CMPs, for professional crypto-mining.</p><p>“Cryptocurrencies have recently started to be accepted by companies and financial institutions and show increased signs of staying power,” Nvidia told investors. Its new line of CMPs will give the firm more visibility into the contribution of crypto to revenue, the company added.</p><p>Some analysts are questioning the sustainability of the trend.Piper Sandler’s Harsh Kumarreiterated an Overweight rating on the shares, for instance, but cautioned about Nvidia’s growing exposure to crypto.</p><p>“With cryptocurrency entering the picture again, the delineation between crypto and core gaming upside is blurred,” he writes. “We feel investors may question the sustainability of these trends, particularly given the cryptocurrency issues in the past.”</p><p>Payments app Square, as noted above, is also now squarely in the Bitcoin debate. While core business trends are looking healthy, investors may be concerned that Square is expanding into crypto as prices peak. The company purchased $170 million of Bitcoin in the quarter, on top of $50 million previously purchased, and is marketing its Cash App as a mechanism to buy, store, and eventually transact with the cryptocurrency.</p><p>Wall Street has mixed views on that idea. Competitors like&nbsp;PayPal Holdings(PYPL) are also plowing into Bitcoin, along with other “neobbank” competitors, notes&nbsp;JMP analyst David Scharf. That raises questions about the long-term “stickiness” of Cash App and whether its growth can be sustained.</p><p>Indeed, Cash App now accounts for about half of Square’s gross profits, and the company is counting on Bitcoin to fuel demand. That is making Square stock a kind of derivative on Bitcoin; shares have been increasingly correlated to the price of Bitcoin over the past year, and the relationship may only be getting tighter.</p><p>Square stock also may not be fully accounting for the volatility of Bitcoin, which has had several boom-bust cycles. At around 100 estimated 2022 Ebitda (earnings before interest, taxes, depreciation, and amortization), the stock looks fully valued, according to Scharf, who maintained a Market Perform rating.</p><p>Guggenheim’s Jeff Cantwell&nbsp;took the opposite side of that debate. He upgraded Square stock to a Buy on Thursday, partly on an upbeat outlook for Bitcoin. “We think Bitcoin is on a long-term trajectory higher,” he writes, adding that it should drive an increase in Cash App usage and other metrics.</p><p>He doesn’t see Bitcoin becoming a currency used for mainstream purchases anytime soon. But that’s beside the point, he notes, since Bitcoin is turning into “digital gold”—a store of value and an asset class. There are 50 million digital Bitcoin wallets globally, a large and growing user base, he notes. Square is doing its part to take Bitcoin mainstream.</p><p>Cantwell sees Square stock hitting $288. Bitcoin may have to do its part for the stock to get there, too.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin May Be Weighing on Tech Stocks Again</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\">\nBitcoin May Be Weighing on Tech Stocks Again\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 11:52 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/bitcoin-may-be-weighing-on-tech-stocks-again-investors-should-be-wary-51614284904?mod=hp_LEAD_2_B_1><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.Semiconductor makerNvidia(ticker: NVDA) was down 8.2%, at $532.3, in recent trading amid a broader rout in the tech-...</p>\n\n<a href=\"https://www.barrons.com/articles/bitcoin-may-be-weighing-on-tech-stocks-again-investors-should-be-wary-51614284904?mod=hp_LEAD_2_B_1\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","NVDA":"英伟达","PYPL":"PayPal",".DJI":"道琼斯","SQ":"Block","TSLA":"特斯拉"},"source_url":"https://www.barrons.com/articles/bitcoin-may-be-weighing-on-tech-stocks-again-investors-should-be-wary-51614284904?mod=hp_LEAD_2_B_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125238969","content_text":"“Blame it on Bitcoin” may be a new catchphrase if the tech sector keeps sinking.Semiconductor makerNvidia(ticker: NVDA) was down 8.2%, at $532.3, in recent trading amid a broader rout in the tech-heavyNasdaq Compositeindex. The chip stock stands out because the company issueda strong earnings reportWednesday, including a lift from products related to Bitcoin and other cryptocurrencies.Payments app Square(SQ), meanwhile, also continued its slide, down 4.3%, at $227.11. The company’srelatively strong earnings report on Tuesday included investments and operational gains from Bitcoin, and the firm said it plans to “double down” on the digital coin. That may be weighing on the stock, which is down nearly 20% in the last few sessions as Bitcoin prices have slumped.Tech is under pressure for other reasons: Steep valuations have made the sector vulnerable to weakness in company forecasts. Rising bond yields pose a threat by pressuring the present value of future cash flows. Big Tech is also a crowded trade that could be losing favor as investors look for more-cyclical exposure or sectors with lower valuations.But the trading patterns in Nvidia, Square,Tesla(TSLA), and other stocks may also be a sign of Bitcoin’s growing influence. Companies are plowing capital into Bitcoin directly and related products and services, expanding exposure at a time when prices have skyrocketed more than 350% in the past year. Despite its recent slide, Bitcoin is still up 67% this year.Crypto is certainly gathering momentum.Mastercard (MA) said this month that it would start supporting cryptocurrencies directly on its network, noting that many consumers are already using cards to buy crypto assets. But it would still be a stretch to turn Bitcoin into a viable currency for everyday purchases, a Mastercard executive noted at a conference on Thursday.“Bitcoin doesn’t behave like a payment instrument,” said Mastercard Executive Vice Chair Ann Cairns, according to a report on MarketWatch. “It’s too volatile and it takes too long to transact.”Whether it becomes an asset class or payment instrument, the rise (and potential fall) of Bitcoin is ripping through corners of tech, banking, and other sectors.Nvidia, for instance, issued animpressiveearnings report, asBarron’snoted. But it’s also becoming more of a crypto play.The company said crypto may have had a $100 million to $300 million positive impact in the quarter. The firm is launching a new line of cryptocurrency mining processors, or CMPs, for professional crypto-mining.“Cryptocurrencies have recently started to be accepted by companies and financial institutions and show increased signs of staying power,” Nvidia told investors. Its new line of CMPs will give the firm more visibility into the contribution of crypto to revenue, the company added.Some analysts are questioning the sustainability of the trend.Piper Sandler’s Harsh Kumarreiterated an Overweight rating on the shares, for instance, but cautioned about Nvidia’s growing exposure to crypto.“With cryptocurrency entering the picture again, the delineation between crypto and core gaming upside is blurred,” he writes. “We feel investors may question the sustainability of these trends, particularly given the cryptocurrency issues in the past.”Payments app Square, as noted above, is also now squarely in the Bitcoin debate. While core business trends are looking healthy, investors may be concerned that Square is expanding into crypto as prices peak. The company purchased $170 million of Bitcoin in the quarter, on top of $50 million previously purchased, and is marketing its Cash App as a mechanism to buy, store, and eventually transact with the cryptocurrency.Wall Street has mixed views on that idea. Competitors like PayPal Holdings(PYPL) are also plowing into Bitcoin, along with other “neobbank” competitors, notes JMP analyst David Scharf. That raises questions about the long-term “stickiness” of Cash App and whether its growth can be sustained.Indeed, Cash App now accounts for about half of Square’s gross profits, and the company is counting on Bitcoin to fuel demand. That is making Square stock a kind of derivative on Bitcoin; shares have been increasingly correlated to the price of Bitcoin over the past year, and the relationship may only be getting tighter.Square stock also may not be fully accounting for the volatility of Bitcoin, which has had several boom-bust cycles. At around 100 estimated 2022 Ebitda (earnings before interest, taxes, depreciation, and amortization), the stock looks fully valued, according to Scharf, who maintained a Market Perform rating.Guggenheim’s Jeff Cantwell took the opposite side of that debate. He upgraded Square stock to a Buy on Thursday, partly on an upbeat outlook for Bitcoin. “We think Bitcoin is on a long-term trajectory higher,” he writes, adding that it should drive an increase in Cash App usage and other metrics.He doesn’t see Bitcoin becoming a currency used for mainstream purchases anytime soon. But that’s beside the point, he notes, since Bitcoin is turning into “digital gold”—a store of value and an asset class. There are 50 million digital Bitcoin wallets globally, a large and growing user base, he notes. Square is doing its part to take Bitcoin mainstream.Cantwell sees Square stock hitting $288. Bitcoin may have to do its part for the stock to get there, too.","news_type":1},"isVote":1,"tweetType":1,"viewCount":130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":363368542,"gmtCreate":1614094570686,"gmtModify":1704888133901,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Another red day?","listText":"Another red day?","text":"Another red day?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/363368542","repostId":"2113433151","repostType":2,"repost":{"id":"2113433151","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":1614090849,"share":"https://ttm.financial/m/news/2113433151?lang=&edition=fundamental","pubTime":"2021-02-23 22:34","market":"us","language":"en","title":"US STOCKS SNAPSHOT-Wall Street opens lower ahead of Powell speech","url":"https://stock-news.laohu8.com/highlight/detail?id=2113433151","media":"Reuters","summary":"Feb 23 (Reuters) - Wall Street's main indexes opened lower on Tuesday as investors sold off high-fly","content":"<html><body><p>Feb 23 (Reuters) - Wall Street's main indexes opened lower on Tuesday as investors sold off high-flying growth stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress.</p><p>   The Dow Jones Industrial Average    fell 19.8 points, or 0.06%, at the open to 31501.89. The S&amp;P 500    fell 19.4 points, or 0.50%, to 3857.07, while the Nasdaq Composite</p><p>  dropped 270.4 points, or 2.00%, to 13262.607 at the opening bell.</p><p> (Reporting by Devik Jain in Bengaluru; Editing by Shinjini Ganguli)</p><p>((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))</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 SNAPSHOT-Wall Street opens lower ahead of Powell speech</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 SNAPSHOT-Wall Street opens lower ahead of Powell speech\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\">2021-02-23 22:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p>Feb 23 (Reuters) - Wall Street's main indexes opened lower on Tuesday as investors sold off high-flying growth stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress.</p><p>   The Dow Jones Industrial Average    fell 19.8 points, or 0.06%, at the open to 31501.89. The S&amp;P 500    fell 19.4 points, or 0.50%, to 3857.07, while the Nasdaq Composite</p><p>  dropped 270.4 points, or 2.00%, to 13262.607 at the opening bell.</p><p> (Reporting by Devik Jain in Bengaluru; Editing by Shinjini Ganguli)</p><p>((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QQQ":"纳指100ETF",".SPX":"S&P 500 Index","SDOW":"道指三倍做空ETF-ProShares","QLD":"纳指两倍做多ETF","DXD":"道指两倍做空ETF","UDOW":"道指三倍做多ETF-ProShares","DOG":"道指反向ETF","QID":"纳指两倍做空ETF","DJX":"1/100道琼斯","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","DDM":"道指两倍做多ETF","PSQ":"纳指反向ETF",".IXIC":"NASDAQ Composite","TQQQ":"纳指三倍做多ETF"},"source_url":"http://api.rkd.refinitiv.com/api/News/News.svc/REST/News_1/RetrieveStoryML_1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2113433151","content_text":"Feb 23 (Reuters) - Wall Street's main indexes opened lower on Tuesday as investors sold off high-flying growth stocks on valuation concerns ahead of Federal Reserve Chairman Jerome Powell's testimony before Congress.   The Dow Jones Industrial Average    fell 19.8 points, or 0.06%, at the open to 31501.89. The S&P 500    fell 19.4 points, or 0.50%, to 3857.07, while the Nasdaq Composite  dropped 270.4 points, or 2.00%, to 13262.607 at the opening bell. (Reporting by Devik Jain in Bengaluru; Editing by Shinjini Ganguli)((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 6182 2062; ;))","news_type":1},"isVote":1,"tweetType":1,"viewCount":342,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369908135,"gmtCreate":1613994447427,"gmtModify":1704886593108,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Roller coaster","listText":"Roller coaster","text":"Roller coaster","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369908135","repostId":"1170294180","repostType":4,"repost":{"id":"1170294180","pubTimestamp":1613981765,"share":"https://ttm.financial/m/news/1170294180?lang=&edition=fundamental","pubTime":"2021-02-22 16:16","market":"us","language":"en","title":"‘The best time to invest in bitcoin was yesterday,’ says strategist as the cryptocurrency soars","url":"https://stock-news.laohu8.com/highlight/detail?id=1170294180","media":"cnbc","summary":"KEY POINTS\n\nMeltem Demirors of CoinShares told CNBC on Monday that the “best time to invest in bitco","content":"<div>\n<p>KEY POINTS\n\nMeltem Demirors of CoinShares told CNBC on Monday that the “best time to invest in bitcoin was yesterday.”\nHer comments came as bitcoin’s market value recently topped the $1 trillion mark,...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/investing-in-btc-best-time-to-invest-in-bitcoin-was-yesterday-says-strategist.html\">Web Link</a>\n\n</div>\n","source":"cnbc_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>‘The best time to invest in bitcoin was yesterday,’ says strategist as the cryptocurrency soars</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\">\n‘The best time to invest in bitcoin was yesterday,’ says strategist as the cryptocurrency soars\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 16:16 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/22/investing-in-btc-best-time-to-invest-in-bitcoin-was-yesterday-says-strategist.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nMeltem Demirors of CoinShares told CNBC on Monday that the “best time to invest in bitcoin was yesterday.”\nHer comments came as bitcoin’s market value recently topped the $1 trillion mark,...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/22/investing-in-btc-best-time-to-invest-in-bitcoin-was-yesterday-says-strategist.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.cnbc.com/2021/02/22/investing-in-btc-best-time-to-invest-in-bitcoin-was-yesterday-says-strategist.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1170294180","content_text":"KEY POINTS\n\nMeltem Demirors of CoinShares told CNBC on Monday that the “best time to invest in bitcoin was yesterday.”\nHer comments came as bitcoin’s market value recently topped the $1 trillion mark, according to Coindesk.\nMeanwhile, NYU’s Aswath Damodaran argues that bitcoin is “an incredible show to watch” but not an investment.\n\nAs bitcoin continues on its upward trek in 2021, one analyst says the regulatory concerns surrounding the cryptocurrency won’t likely derail its momentum.\n“The regulatory issues have been around for a long time, we’ve been dispelling them for a long time. At this point, our belief is: Bitcoin is not a question of if, but when,” Meltem Demirors, chief strategy officer at digital asset investment firm CoinShares, said Monday.\n“We certainly believe, you know, the best time to invest in bitcoin was yesterday — the second best time to allocate is today,” she told CNBC’s “Squawk Box Asia.”\nHer comments came after bitcoin recently toppled another milestone,pushing past $1 trillion in market value last week, according to Coindesk.\nBitcoin has been on a tear since the start of 2021, and has risen more than 90% so far this year, according to data from Coin Metrics. Those strong gains have been attributed in part to increased adoption of bitcoin by major investors and companies, including Elon Musk’s Tesla and the Bank of New York Mellon.\nBitcoin last sat at $56,355.50 per coin as of 1:26 a.m. ET Monday.\nStill, Demirors warned that investors should not be allocating “significant portions of their balance sheet” to bitcoin.\n“Our research has found that in a traditional 60-40 portfolio, a 4% allocation to bitcoin balances the reward as well as the risk of drawdowns,” she said. The 60% stock and 40% bond portfolio is traditionally a popular allocation strategy designed to generate steady income while guarding against volatility.\nBitcoin a ‘failed currency’?\nAswath Damodaran from New York University was far more skeptical about investing in bitcoin.\n“This is an ... incredible show to watch. But it’s definitely not an investment,” Damodaran, a professor of finance at NYU’s Stern School of Business, told CNBC’s “Street Signs Asia” on Friday.\n“If it’s a currency, it’s a ... horrifically bad currency,” he said, adding that bitcoin “seems to be primarily a speculative game” that has “behaved like a very risky stock.”\n“It’s not an asset class. It’s a failed currency, at least into this moment,” Damodaran said. “Let’s see whether they can fix it because ... I don’t think that they have an incentive to do so.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":158,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369901965,"gmtCreate":1613994375257,"gmtModify":1704886591128,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Red","listText":"Red","text":"Red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/369901965","repostId":"1157730634","repostType":4,"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":352024478,"gmtCreate":1616835738094,"gmtModify":1704799530168,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Comment &amp; like pls!","listText":"Comment &amp; like pls!","text":"Comment & like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/352024478","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","pubTimestamp":1616772179,"share":"https://ttm.financial/m/news/1111192234?lang=&edition=fundamental","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p>\n<p>Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p>\n<p>Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p>\n<p>So far the market isn’t feeling charitable. But the sample size is only one stock.</p>\n<p>NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p>\n<p>For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p>\n<p>Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p>\n<p>RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p>\n<p>Spak rates Tesla stock Hold and has a $725 price target for shares.</p>\n<p>In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p>\n<p>Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.</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 Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-26 23:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">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://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3574979473661125","authorId":"3574979473661125","authorIdStr":"3574979473661125","name":"小獭獭","avatar":"https://static.tigerbbs.com/efbd85c02219122d727f3ce8ce3b6f24","crmLevel":3,"crmLevelSwitch":0,"idStr":"3574979473661125"},"content":"Respond Thank you!","text":"Respond Thank you!","html":"Respond Thank you!"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358845483,"gmtCreate":1616681869642,"gmtModify":1704797394892,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Like and comment pls","listText":"Like and comment pls","text":"Like and comment pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/358845483","repostId":"1126422288","repostType":4,"isVote":1,"tweetType":1,"viewCount":297,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352108919,"gmtCreate":1616901679331,"gmtModify":1704799836629,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Comment and like pls","listText":"Comment and like pls","text":"Comment and like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/352108919","repostId":"1111192234","repostType":4,"repost":{"id":"1111192234","pubTimestamp":1616772179,"share":"https://ttm.financial/m/news/1111192234?lang=&edition=fundamental","pubTime":"2021-03-26 23:22","market":"us","language":"en","title":"Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.","url":"https://stock-news.laohu8.com/highlight/detail?id=1111192234","media":"Barrons","summary":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.Numbers will matter even more for richly valued, high-growth companies such as Tesla. Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors and Ford Motor have taken unexpected plant downtime recently and","content":"<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.</p>\n<p>Numbers will matter even more for richly valued, high-growth companies such as&nbsp;Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both&nbsp;General Motors(GM) and&nbsp;Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.</p>\n<p>Everyone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.</p>\n<p>So far the market isn’t feeling charitable. But the sample size is only one stock.</p>\n<p>NIO&nbsp;shares (NIO) are down more than 6% in Friday trading after the EV maker&nbsp;reduced guidance&nbsp;for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.</p>\n<p>For Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.</p>\n<p>Tesla delivered about 181,000 vehicles in the&nbsp;fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.</p>\n<p>RBC analyst&nbsp;Joe Spak&nbsp;is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting&nbsp;Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.</p>\n<p>Spak rates Tesla stock Hold and has a $725 price target for shares.</p>\n<p>In the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.</p>\n<p>Tesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The&nbsp;S&amp;P 500is up about 0.7%.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.</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 Deliveries Are Coming. They Matter More Than Ever. Here’s What to Expect.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-26 23:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global ...</p>\n\n<a href=\"https://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3\">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://www.barrons.com/articles/tesla-deliveries-are-coming-they-matter-more-than-ever-heres-what-to-expect-51616769819?mod=hp_DAY_Theme_1_3","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1111192234","content_text":"The first quarter ends in just a few days. That means more delivery data from auto makers is due. For investors, the figures will be higher stakes than usual. The reason is simple: The global automotive microchip shortage is roiling the entire car business.\nNumbers will matter even more for richly valued, high-growth companies such as Tesla(ticker: TSLA). Tesla investors want growth, and the chip situation is squeezing growth. Both General Motors(GM) and Ford Motor(F) have taken unexpected plant downtime recently and have called the chip issue a billion-dollar profit headwind for 2021. That’s not what investors want to hear.\nEveryone is aware of the issue. Still, when first-quarter data is released, investors have to decide whether or not to give Tesla, or any other fast-growing EV maker, a pass if results are weaker than expected.\nSo far the market isn’t feeling charitable. But the sample size is only one stock.\nNIO shares (NIO) are down more than 6% in Friday trading after the EV maker reduced guidance for first-quarter deliveries from about 20,250 cars to about 19,500. NIO management cited the chip shortage and is shutting a manufacturing plant for five days starting March 29.\nFor Tesla, Wall Street is looking for about 162,000 vehicles delivered in March. That’s down from a peak estimate of about 183,000 vehicles. Analysts seem to be reducing numbers, possibly because of the shortage.\nTesla delivered about 181,000 vehicles in the fourth quarter. For the full year 2021, analysts are looking for almost 800,000 vehicle deliveries, up about 60% year over year.\nRBC analyst Joe Spak is forecasting 170,000 first-quarter deliveries, up more than 90% year over year. He also forecasts Tesla will make 96,000 cars in California and 74,000 cars in China during the quarter. “Consensus [estimate] looks mostly reasonable,” wrote Spak in a Thursday report. “We do look for updates to see how the semi shortage is impacting Tesla—as it has the rest of the industry.” He sees some additional downside risk to estimates, especially for second-quarter numbers, because of chips.\nSpak rates Tesla stock Hold and has a $725 price target for shares.\nIn the case of Tesla stock, the chip shortage has taken a back seat to rising interest rates. Rising rateshit growth stocksin two main ways. For starters, it makes growth more expensive to finance. NIO isn’t profitable yet. High-growth companies generate most of their cash flow far in the future. That cash flow is worth a little less, relatively speaking, when investors can earn higher interest rates on their cash today.\nTesla stock is down roughly 10% year to date after rising more than 740% in 2020. Shares are down 0.9% in early Friday trading, at $634.40. The S&P 500is up about 0.7%.","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356351539,"gmtCreate":1616758832121,"gmtModify":1704798464221,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Comment and like","listText":"Comment and like","text":"Comment and like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/356351539","repostId":"2122473630","repostType":4,"repost":{"id":"2122473630","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":1616751900,"share":"https://ttm.financial/m/news/2122473630?lang=&edition=fundamental","pubTime":"2021-03-26 17:45","market":"us","language":"en","title":"RLX Technology's quarterly revenue jumps 44.5% QoQ","url":"https://stock-news.laohu8.com/highlight/detail?id=2122473630","media":"Tiger Newspress","summary":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYS","content":"<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td><p>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul><p>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><table><tbody><tr><td><p>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><b><u>Balance&nbsp;Sheet</u></b></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><b><u>Business Outlook</u></b></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>RLX Technology's quarterly revenue jumps 44.5% QoQ</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\">\nRLX Technology's quarterly revenue jumps 44.5% QoQ\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\">2021-03-26 17:45</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, March&nbsp;26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.</p><p><img src=\"https://static.tigerbbs.com/cd48712f2965372dd71b1af347f0ab9c\" tg-width=\"828\" tg-height=\"762\" referrerpolicy=\"no-referrer\"></p><p><b><u>Fourth Quarter 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.</li><li><b>Gross margin</b>was 42.9%, compared to 39.1% in the third quarter of 2020.</li><li><b>Net loss</b>wasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.</li><li><b>Non-GAAP net income[1]</b>wasRMB419.3 million(US$64.3 million).</li></ul><table><tbody><tr><td><p>[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Financial Highlights</u></b></p><ul><li><b>Net revenues</b>wereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.</li><li><b>Gross margin</b>was 40.0% in fiscal year 2020, compared to 37.5% in the prior year.</li><li><b>Net loss</b>wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</li><li><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million).</li></ul><p>\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneering<i>Guardian Program,</i>introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of our<i>Sunflower System</i>, our&nbsp;technology-driven underage-access-prevention system. In addition, we continued to advance our<i>Golden Shield Program</i>in cooperation with the public, media and local authorities to combat sales of counterfeit products.\"</p><p>\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment&nbsp;in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.</p><p><b><u>Closing of Initial Public Offering (\"IPO\")</u></b></p><p>OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.</p><p><b><u>Fourth Quarter 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.</p><p><b>Gross profit</b>&nbsp;increased by 58.6% to&nbsp;RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.</p><p><b>Gross margin</b>&nbsp;increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.</p><p><b>Operating expenses</b>&nbsp;wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0&nbsp;million in the third quarter of 2020.</p><p><i>Selling expenses</i>increased by 127.0% to&nbsp;RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.</p><p><i>General and administrative expenses</i>&nbsp;increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.</p><p><i>Research and development expenses</i>increased by 441.9% to&nbsp;RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1&nbsp;million (US$100.6&nbsp;million) in the fourth quarter of 2020 andRMB238.2&nbsp;million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Loss from operations</b>&nbsp;wasRMB158.5&nbsp;million (US$24.3&nbsp;million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.</p><p><b>Income tax expense</b>&nbsp;wasRMB110.6&nbsp;million (US$17.0&nbsp;million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB236.7&nbsp;million (US$36.3&nbsp;million) in the fourth&nbsp;quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.</p><p><b>Non-GAAP&nbsp;net income</b>wasRMB419.3 million(US$64.3&nbsp;million) in the fourth&nbsp;quarter of 2020.</p><p><b>Basic and diluted net loss per American depositary share (\"ADS\")</b>&nbsp;were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS[2]</b>were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.</p><table><tbody><tr><td><p>[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.</p></td></tr></tbody></table><p><b><u>Fiscal Year 2020 Unaudited Financial Results</u></b></p><p><b>Net revenues</b>&nbsp;increased by 146.5% to&nbsp;RMB3,819.7&nbsp;million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4&nbsp;million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.</p><p><b>Gross profit</b>&nbsp;increased by 162.9% to&nbsp;RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.</p><p><b>Gross margin</b>&nbsp;was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.</p><p><b>Operating expenses</b>&nbsp;wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6&nbsp;million in the prior year.</p><p><i>Selling expenses</i>increased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was&nbsp;primarilydue to (i)&nbsp;an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.</p><p><i>General and administrative expenses</i>&nbsp;increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was&nbsp;primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.</p><p><i>Research and development expenses</i>increased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was&nbsp;primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.</p><p>Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.</p><p><b>Income from operations</b>decreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.</p><p><b>Income tax expense</b>&nbsp;wasRMB230.5&nbsp;million (US$35.3&nbsp;million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9&nbsp;million in the prior year. The increase was&nbsp;primarilydue to an increase in taxable income.</p><p><b>Net loss</b>&nbsp;wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.</p><p><b>Non-GAAP net income</b>wasRMB801.0 million(US$122.8 million) in fiscal year 2020.</p><p><b>Basic and diluted net loss per ADS</b>&nbsp;were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.</p><p><b>Non-GAAP basic and diluted netincome&nbsp;per ADS</b>were bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.</p><p><b><u>Balance&nbsp;Sheet</u></b></p><p>As ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4&nbsp;million (US$524.4&nbsp;million), compared toRMB811.7 millionas ofDecember 31, 2019.</p><p><b><u>Business Outlook</u></b></p><p>For the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin&nbsp;toremain steady.</p><p>The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.</p><p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"RLX":"雾芯科技"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2122473630","content_text":"BEIJING, March 26, 2021 /PRNewswire/ -- RLX Technology Inc. (\"RLX Technology\" or the \"Company\") (NYSE: RLX), a leading branded e-vapor company inChina, today announced its unaudited financial results for the fourth quarter and the fiscal year endedDecember 31, 2020.Fourth Quarter 2020 Financial HighlightsNet revenueswereRMB1,618.5 million(US$248.0 million), representing an increase of 44.5% fromRMB1,120.2 millionin the third quarter of 2020.Gross marginwas 42.9%, compared to 39.1% in the third quarter of 2020.Net losswasRMB236.7 million(US$36.3 million), compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net income[1]wasRMB419.3 million(US$64.3 million).[1]Non-GAAP net (loss)/income is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Financial HighlightsNet revenueswereRMB3,819.7 million(US$585.4 million) in fiscal year 2020, representing an increase of 146.5% fromRMB1,549.4 millionin the prior year.Gross marginwas 40.0% in fiscal year 2020, compared to 37.5% in the prior year.Net losswasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million).\"We are pleased to report financial and operational results for the fourth quarter of 2020. Throughout 2020, despite challenges stemming from COVID-19, our business remained resilient, and our management team maintained our focus on building and strengthening RELX as a trusted brand for adult smokers,\" said Ms.Ying (Kate) Wang, Co-founder, Chairperson of the Board of Directors and Chief Executive Officer of RLX Technology. \"We continue to consistently uphold and practice our ethical principles, including facilitating the prevention of underage use of our products through our industry pioneeringGuardian Program,introducing effective age-verification practices to the industry. This fourth quarter also witnessed the first anniversary of the launch of ourSunflower System, our technology-driven underage-access-prevention system. In addition, we continued to advance ourGolden Shield Programin cooperation with the public, media and local authorities to combat sales of counterfeit products.\"\"Looking forward, we plan to further solidify our leadership as we endeavor to continue investment in scientific research, enhance our technology and product development, strengthen our distribution and retail network, bolster supply chain and production capabilities, and extend our global capabilities. These strategic initiatives are designed to support our growth over the long-term,\" Ms. Wang concluded.Closing of Initial Public Offering (\"IPO\")OnJanuary 26, 2021, the Company completed the closing of its initial public offering of 133,975,000 American depositary shares (\"ADSs\"), each representing one Class A ordinary share. The number of ADSs issued at closing included 17,475,000 ADSs issued pursuant to the exercise in full of over-allotment option by the underwriters. At a price to the public ofUS$12.00per ADS, the total offering size wasUS$1,607.7 million.Fourth Quarter 2020 Unaudited Financial ResultsNet revenues increased by 44.5% toRMB1,618.5 million(US$248.0 million) in the fourth quarter of 2020 fromRMB1,120.2 millionin the third quarter of 2020. The increase was primarily due to an increase in net revenues from sales to offline distributors, which was mainly attributable to the expansion of the Company's distribution and retail network.Gross profit increased by 58.6% to RMB694.1 million (US$106.4 million) in the fourth quarter of 2020 fromRMB437.5 millionin the third quarter of 2020.Gross margin increased to 42.9% in the fourth quarter of 2020, compared to 39.1% in the third quarter of 2020.Operating expenses wereRMB852.6 million(US$130.7 million) in the fourth quarter of 2020, representing an increase of 124.4% fromRMB380.0 million in the third quarter of 2020.Selling expensesincreased by 127.0% to RMB196.7 million (US$30.1 million) in the fourth quarter of 2020 fromRMB86.7 millionin the third quarter of 2020. The increase was mainly driven by (i) an increase in share-based compensation expenses, and (ii) an increase in branding material expenses.General and administrative expenses increased by 75.4% toRMB447.0 million(US$68.5 million) in the fourth quarter of 2020 fromRMB254.8 millionin the third quarter of 2020. The increase wasprimarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in professional service fees.Research and development expensesincreased by 441.9% to RMB208.9 million (US$32.0 million) in the fourth quarter of 2020 fromRMB38.5 millionin the third quarter of 2020. The increase wasprimarilydriven by (i) an increase in share-based compensation expenses, and (ii) an increase in software and technical service expenses.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB656.1 million (US$100.6 million) in the fourth quarter of 2020 andRMB238.2 million in the third quarter of 2020. The increase was primarily due to the increase in fair value of ordinary shares of Relx Inc.Loss from operations wasRMB158.5 million (US$24.3 million) in the fourth quarter of 2020, compared with income from operations ofRMB57.5 millionin the third quarter of 2020.Income tax expense wasRMB110.6 million (US$17.0 million) in the fourth quarter of 2020, compared with income tax expense ofRMB77.3 millionin the third quarter of 2020, primarily due to an increase in taxable income.Net loss wasRMB236.7 million (US$36.3 million) in the fourth quarter of 2020, compared with net income ofRMB7.8 millionin the third quarter of 2020.Non-GAAP net incomewasRMB419.3 million(US$64.3 million) in the fourth quarter of 2020.Basic and diluted net loss per American depositary share (\"ADS\") were bothRMB0.165(US$0.025)in the fourth quarter of 2020, compared to basic and diluted net income per ADS ofRMB0.005in the third quarter of 2020.Non-GAAP basic and diluted netincome per ADS[2]were bothRMB0.292(US$0.045)in the fourth quarter of 2020, compared toRMB0.171in the third quarter of 2020.[2]Non-GAAP basic and diluted net (loss)/income per ADS is a non-GAAP financial measure. For more information on the Company's non-GAAP financial measures, please see the section \"Non-GAAP Financial Measures\" and the table captioned \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" set forth at the end of this press release.Fiscal Year 2020 Unaudited Financial ResultsNet revenues increased by 146.5% to RMB3,819.7 million (US$585.4 million) in fiscal year 2020 fromRMB1,549.4 million in the prior year. The increase was primary due to an increase in net revenues from sales to offline distributors.Gross profit increased by 162.9% to RMB1,527.6 million (US$234.1 million) in fiscal year 2020 fromRMB580.9 millionin the prior year.Gross margin was 40.0% in the fiscal year 2020, compared to 37.5% in the prior year.Operating expenses wereRMB1,514.4 million(US$232.1 million) in fiscal year 2020, representing an increase of 188.7% fromRMB524.6 million in the prior year.Selling expensesincreased by 23.3% toRMB443.2 million(US$67.9 million) in fiscal year 2020 fromRMB359.4 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's selling personnel, partially offset by a decrease in e-commerce platform service expenses as the Company closed its stores on e-commerce platforms and ceased collaboration with e-commerce platform distributors in response to theOctober 2019Announcement.General and administrative expenses increased by 479.5% toRMB772.0 million(US$118.3 million) in fiscal year 2020 fromRMB133.2 millionin the prior year. The increase was primarilyattributable to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's general and administrative personnel.Research and development expensesincreased by 837.2% toRMB299.3 million(US$45.9 million) in fiscal year 2020 fromRMB31.9 millionin the prior year. The increase was primarilydue to (i) an increase in share-based compensation expenses, and (ii) an increase in salaries and welfare benefits to the Company's research and development personnel.Share-based compensation expenses recognized in selling expenses, general and administrative expenses and research and development expenses in total wereRMB929.1 million(US$142.4 million) in fiscal year 2020 andRMB52.7 millionin the prior year, primarily due to the increase in fair value of ordinary shares of Relx Inc.Income from operationsdecreased by 76.7% toRMB13.1 million(US$2.0 million) in fiscal year 2020 fromRMB56.4 millionin the prior year.Income tax expense wasRMB230.5 million (US$35.3 million) in fiscal year 2020, representing an increase of 789.3% fromRMB25.9 million in the prior year. The increase was primarilydue to an increase in taxable income.Net loss wasRMB128.1 million(US$19.6 million) in fiscal year 2020, compared with net income ofRMB47.7 millionin the prior year.Non-GAAP net incomewasRMB801.0 million(US$122.8 million) in fiscal year 2020.Basic and diluted net loss per ADS were bothRMB0.089(US$0.014)in fiscal year 2020, compared to basic and diluted net income per ADS ofRMB0.033in the prior year.Non-GAAP basic and diluted netincome per ADSwere bothRMB0.557(US$0.085)in fiscal year 2020, compared toRMB0.070per ADS in the prior year.Balance SheetAs ofDecember 31, 2020, the Company had cash and cash equivalents, restricted cash, short-term bank deposits and short-term investments ofRMB3,421.4 million (US$524.4 million), compared toRMB811.7 millionas ofDecember 31, 2019.Business OutlookFor the first quarter of 2021, the Company currently expects net revenues to exceedRMB2,300 million, and expects non-GAAP net income to exceedRMB590 million. The Company's expected net income will also include share-based compensation expenses which depend on the Company's share price and are not available without unreasonable efforts. The Company also expects gross margin toremain steady.The above outlook is based on the current market conditions, including those related to the COVID-19 pandemic, and reflects the Company's preliminary estimates of market and operating conditions, and users' demand, which are all subject to change. Please refer to \"Safe Harbor Statement\" in this press release for risks associated with forward-looking statements.","news_type":1},"isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369901965,"gmtCreate":1613994375257,"gmtModify":1704886591128,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Red","listText":"Red","text":"Red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/369901965","repostId":"1157730634","repostType":4,"repost":{"id":"1157730634","pubTimestamp":1613983140,"share":"https://ttm.financial/m/news/1157730634?lang=&edition=fundamental","pubTime":"2021-02-22 16:39","market":"us","language":"en","title":"If you want to get rich with marijuana stocks, you need to know the crucial difference between U.S. and Canadian companies","url":"https://stock-news.laohu8.com/highlight/detail?id=1157730634","media":"MarketWatch","summary":"U.S. companies are overlooked by many investors. But any state and federal legalization favors them ","content":"<p>U.S. companies are overlooked by many investors. But any state and federal legalization favors them over Canadian rivals, fund managers say.</p>\n<p>The marijuana business is rightly described as a fledging industry. But what investors see as a potential promised land may be further off than many expect because full federal legalization may take a long time.</p>\n<p>The unfolding legalization of marijuana in U.S. states makes this a complicated and potentially lucrative space for investors. Most marijuana ETFs are passively managed, meaning they track indexes.</p>\n<p>The following discussion points to an advantage for active managers of exchange traded funds who can tailor strategies as the legal landscape changes.</p>\n<p>Meanwhile, investors had better rethink their focus on Canadian cannabis companies, some of which may be cut out of a big piece of the industry action. The devil is in the details.</p>\n<p>For broad coverage of the dynamic marijuana industry, see&nbsp;Cannabis Watch.</p>\n<p><img src=\"https://static.tigerbbs.com/5d7cd1c6232b8aec4b01d3dcd58f153e\" tg-width=\"620\" tg-height=\"411\" referrerpolicy=\"no-referrer\"></p>\n<p>Marijuana has been legalized for recreational use in 15 U.S. states and Washington, D.C. However, it remains illegal on the federal level. This has led to a bizarre scenario.</p>\n<p>The Canadian licensed producers (known as LPs) do not sell cannabis products in the U.S. because it is against U.S. law. But shares of the largest five are listed on the Nasdaq exchange or the New York Stock Exchange:</p>\n<p><img src=\"https://static.tigerbbs.com/01c24511eacc6de9a22a84ef8ceb124b\" tg-width=\"760\" tg-height=\"293\" referrerpolicy=\"no-referrer\"></p>\n<p>Meanwhile, the four largest U.S. companies selling marijuana products in states (and Washington D.C.) where recreational use is legal<i>aren’t</i>listed on U.S. exchanges because they are engaged in activities that are technically illegal on the federal level. They are listed over the counter. These companies are known as multistate operators (MSOs):</p>\n<p><img src=\"https://static.tigerbbs.com/d3052eb3833732f5bf14527719f2c462\" tg-width=\"837\" tg-height=\"252\" referrerpolicy=\"no-referrer\"></p>\n<p>In an August 2013 memorandum to U.S. attorneys, now known as the “Cole Memo,” James Cole, the deputy attorney general at that time, defined the Department of Justice’s position as relying on states that had legalized marijuana for recreational use to set up regulatory schemes to ensure compliance with eight DOJ goals listed on the first and second page of the document.</p>\n<p>Since then, the federal government hasn’t attempted to arrest people within those states for purchasing small amounts of marijuana to use recreationally.</p>\n<p>But under the Investment Company Act of 1940, mutual funds and exchange traded funds are still not allowed to own shares of the MSOs.</p>\n<p>AdvisorShares has been able to work around this problem by purchasing MSO stock total return swaps in the Advisor&nbsp;Shares Pure Cannabis ETF&nbsp;YOLO&nbsp;and the AdvisorShares Pure US Cannabis ETFMSOS.The Securities and Exchange Commission required AdvisorShares to get an outside legal opinion about the total return swaps, which you can read on the AdvisorShares website. You should also read the prospectuses for YOLO and MSOS if you consider investing in them to learn more about their investment methodologies and risks, just as you should read the prospectus for any other mutual fund or ETF you consider.</p>\n<p>Dan Ahrens, the portfolio manager for YOLO and MSOS, said during an interview Feb. 12 that he doesn’t expect the Canadian LPs to be able to sell marijuana in the U.S. for the “foreseeable future” because “neither the Democratic-controlled Congress nor President Biden ever called for full federal legalization of marijuana.”</p>\n<p>This is where the arguments begin.</p>\n<p>It’s easy for a politician to say he or she wants marijuana “decriminalized” for leisure use in small amounts. But that is not<i>full legalization</i>, which in addition to allowing leisure use of marijuana anywhere in the U.S., would allow banks to provide full services to U.S. marijuana producers and distributors, and allow their shares to be listed on public exchanges.</p>\n<p>Full legalization would also presumably open up the U.S. market to the Canadian LPs.</p>\n<p>So Ahrens expects state-by-state legalization to continue, with MSOs being the biggest beneficiaries. He believes the Canadian LPs are worth investing in as well, which is why YOLO holds shares of them. Canopy Growth Corp. is 38.6% owned by Constellation Brands Inc.STZ,the brewer of Corona and Modelo beers, which has many other well-known consumer brands and holds warrants allowing it to take a majority stake in Canopy.</p>\n<p>This gives Canopy deep pockets — the company has an agreement with Acreage Holdings Inc.ACRHF,another U.S. MSO, through which Canopy would acquire Acreage Holdings in the event of “changes in U.S. federal law to permit the general cultivation, distribution and possession of marijuana or to remove the regulation of such activities from the federal laws of the United States.” That language comes from page 9 of Canopy’s10k reportfor its fiscal year ended March 31, 2020.</p>\n<p><b>MSOs have a bigger business already</b></p>\n<p>Here’s a comparison of the past four quarters’ sales data for the five LPs and four MSOs. The companies’ fiscal quarters aren’t uniform, so the as-of date for the most recent reported quarter’s data that was available from FactSet on Feb. 18 is in the right-most column.</p>\n<p>The most recent quarter is marked Q0, the previous quarter is Q-1, and so on. All data in all the tables is in millions of U.S. dollars.</p>\n<p>First, the Canadian LPs:</p>\n<table>\n <thead>\n  <tr>\n   <th>COMPANY</th>\n   <th>SALES - Q0</th>\n   <th>SALES - Q-1</th>\n   <th>SALES - Q-2</th>\n   <th>SALES - Q-3</th>\n   <th>MARKET CAP.</th>\n   <th>DATE OF MOST RECENT FINANCIAL REPORT</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>CANOPY GROWTH CORP.</td>\n   <td>$117</td>\n   <td>$102</td>\n   <td>$80</td>\n   <td>$80</td>\n   <td>$15,247</td>\n   <td>12/31/2020</td>\n  </tr>\n  <tr>\n   <td>Aphria Inc.</td>\n   <td>$122</td>\n   <td>$108</td>\n   <td>$109</td>\n   <td>$109</td>\n   <td>$6,528</td>\n   <td>11/30/2020</td>\n  </tr>\n  <tr>\n   <td>Tilray Inc.</td>\n   <td>$57</td>\n   <td>$51</td>\n   <td>$50</td>\n   <td>$52</td>\n   <td>$4,987</td>\n   <td>12/31/2020</td>\n  </tr>\n  <tr>\n   <td>Cronos Group Inc.</td>\n   <td>$11</td>\n   <td>$10</td>\n   <td>$8</td>\n   <td>$7</td>\n   <td>$4,445</td>\n   <td>09/30/2020</td>\n  </tr>\n  <tr>\n   <td>Aurora Cannabis Inc.</td>\n   <td>$52</td>\n   <td>$51</td>\n   <td>$52</td>\n   <td>$56</td>\n   <td>$2,578</td>\n   <td>12/31/2020</td>\n  </tr>\n  <tr>\n   <td>Total</td>\n   <td>$359</td>\n   <td>$321</td>\n   <td>$299</td>\n   <td>$305</td>\n   <td>$33,785</td>\n  </tr>\n </tbody>\n</table>\n<p>FactSet</p>\n<p>Scroll the table to see all the data. For four quarters, the five LPs had combined sales of $1.284 billion, which was up 24% from the previous four-quarter period. If we divide the combined market capitalization of $33.785 billion by the past four quarters’ sales, the trailing price-to-sales ratio for the group is 26.3.</p>\n<p>And now the U.S. MSOs:</p>\n<table>\n <thead>\n  <tr>\n   <th>COMPANY</th>\n   <th>SALES - Q0</th>\n   <th>SALES - Q-1</th>\n   <th>SALES - Q-2</th>\n   <th>SALES - Q-3</th>\n   <th>MARKET CAP.</th>\n   <th>DATE OF MOST RECENT FINANCIAL REPORT</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>CURALEAF HOLDINGS INC.</td>\n   <td>$182</td>\n   <td>$117</td>\n   <td>$96</td>\n   <td>$75</td>\n   <td>$9,891</td>\n   <td>09/30/2020</td>\n  </tr>\n  <tr>\n   <td>Green Thumb Industries Inc.</td>\n   <td>$157</td>\n   <td>$120</td>\n   <td>$103</td>\n   <td>$76</td>\n   <td>$6,426</td>\n   <td>09/30/2020</td>\n  </tr>\n  <tr>\n   <td>Trulieve Cannabis Corp.</td>\n   <td>$136</td>\n   <td>$121</td>\n   <td>$96</td>\n   <td>$80</td>\n   <td>$2,789</td>\n   <td>09/30/2020</td>\n  </tr>\n  <tr>\n   <td>Cresco Labs Inc.</td>\n   <td>$153</td>\n   <td>$94</td>\n   <td>$66</td>\n   <td>$41</td>\n   <td>$2,756</td>\n   <td>09/30/2020</td>\n  </tr>\n  <tr>\n   <td>Total</td>\n   <td>$629</td>\n   <td>$452</td>\n   <td>$362</td>\n   <td>$272</td>\n   <td>$21,862</td>\n  </tr>\n </tbody>\n</table>\n<p>FactSet</p>\n<p>Again, you will need to scroll the table to see all the data. For four quarters, the five MSOs had combined sales of $1.715 billion, an increase of 163% from the previous four-quarter period. If we divide the combined market capitalization of $21.862 billion by the past four quarters’ sales, the trailing price-to-sales ratio for the MSOs group is 12.7</p>\n<p>So the MSOs are growing their sales much more quickly and have a much lower valuation to sales.</p>\n<p>Maybe the valuation difference shouldn’t be such a surprise. The MSOs are only traded over the counter. So individual investors need to go out of their way to invest in them, or go with the YOLO or MSOS ETFs.</p>\n<p>Here’s another set of data, this time comparing net cash from operating activities for the two groups.</p>\n<p>First, the Canadian LPs:</p>\n<table>\n <thead>\n  <tr>\n   <th>COMPANY</th>\n   <th>NET CASH FROM OPERATIONS - Q0</th>\n   <th>NET CASH FROM OPERATIONS - Q-1</th>\n   <th>NET CASH FROM OPERATIONS - Q-2</th>\n   <th>NET CASH FROM OPERATIONS - Q-3</th>\n   <th>FOUR-QUARTER SUM</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>CANOPY GROWTH CORP.</td>\n   <td>($72)</td>\n   <td>($125)</td>\n   <td>($86)</td>\n   <td>($149)</td>\n   <td>($431)</td>\n  </tr>\n  <tr>\n   <td>Aphria Inc.</td>\n   <td>$2</td>\n   <td>($52)</td>\n   <td>($1)</td>\n   <td>($41)</td>\n   <td>($92)</td>\n  </tr>\n  <tr>\n   <td>Tilray Inc.</td>\n   <td>($17)</td>\n   <td>($35)</td>\n   <td>($54)</td>\n   <td>($91)</td>\n   <td>($197)</td>\n  </tr>\n  <tr>\n   <td>Cronos Group Inc.</td>\n   <td>($30)</td>\n   <td>($37)</td>\n   <td>($39)</td>\n   <td>($37)</td>\n   <td>($143)</td>\n  </tr>\n  <tr>\n   <td>Aurora Cannabis Inc.</td>\n   <td>($51)</td>\n   <td>($81)</td>\n   <td>($30)</td>\n   <td>($40)</td>\n   <td>($202)</td>\n  </tr>\n  <tr>\n   <td>Total</td>\n   <td>($168)</td>\n   <td>($330)</td>\n   <td>($209)</td>\n   <td>($358)</td>\n   <td>($1,065)</td>\n  </tr>\n </tbody>\n</table>\n<p>FactSet</p>\n<p>Even though Tilray reported itsfourth-quarter resultson Feb. 17, the cash flow information above for the company is only through Sept. 30. This is because the Feb. 17 report didn’t include a statement of cash flows.</p>\n<p>The LPs as a group had negative cash flow from operations for all periods, according to FactSet’s data.</p>\n<p>And now the U.S. MSOs:</p>\n<table>\n <thead>\n  <tr>\n   <th>COMPANY</th>\n   <th>NET CASH FROM OPERATIONS - Q0</th>\n   <th>NET CASH FROM OPERATIONS - Q-1</th>\n   <th>NET CASH FROM OPERATIONS - Q-2</th>\n   <th>NET CASH FROM OPERATIONS - Q-3</th>\n   <th>FOUR-QUARTER SUM</th>\n  </tr>\n </thead>\n <tbody>\n  <tr>\n   <td>CURALEAF HOLDINGS INC.</td>\n   <td>($28)</td>\n   <td>$23</td>\n   <td>($2)</td>\n   <td>($18)</td>\n   <td>($25)</td>\n  </tr>\n  <tr>\n   <td>Green Thumb Industries Inc.</td>\n   <td>$18</td>\n   <td>$37</td>\n   <td>$30</td>\n   <td>($15)</td>\n   <td>$70</td>\n  </tr>\n  <tr>\n   <td>Trulieve Cannabis Corp.</td>\n   <td>($2)</td>\n   <td>$52</td>\n   <td>$25</td>\n   <td>$7</td>\n   <td>$82</td>\n  </tr>\n  <tr>\n   <td>Cresco Labs Inc.</td>\n   <td>$17</td>\n   <td>($9)</td>\n   <td>($40)</td>\n   <td>($5)</td>\n   <td>($38)</td>\n  </tr>\n  <tr>\n   <td>Total</td>\n   <td>$4</td>\n   <td>$103</td>\n   <td>$13</td>\n   <td>($31)</td>\n   <td>$89</td>\n  </tr>\n </tbody>\n</table>\n<p>FactSet</p>\n<p>The MSOs as a group had positive cash flow from operations for three of the four quarters and for the combined four quarters.</p>\n<p><b>A counter-argument</b></p>\n<p>YOLO and MSOS are actively managed. The only other actively managed Cannabis ETF is the Amplify Seymour Cannabis ETFCNBS.You can read more about CNBShere.</p>\n<p>During an interview Feb. 17, Tim Seymour, the portfolio manager of CNBS, said AdvisorShares has done “a nice job building a business where they have the ability to invest in companies I would like to own.”</p>\n<p>He also said that Amplify had taken a “more conservative approach” when it established CNBS in July 2019 because the SEC had not made a broad ruling on allowing mutual funds or ETFs to invest in MSO total return swaps.</p>\n<p>In addition to managing CNBS, Seymour is on the investment committee of JW Asset Management, a $2 billion hedge fund focused on the cannabis industry.</p>\n<p>“I am investing in companies that I believe are representative of the best exposure to investors for the best returns right now,” Seymour said. He also emphasized the importance of active management in the space.</p>\n<p>He agrees with Ahrens about the importance of the U.S. market, especially if and when Congress fully legalizes marijuana and enables financial-services companies to treat the industry as it would any other legal industry.</p>\n<p>Canopy Growth Corp. is the largest holding of CNBS and Seymour pointed to the Acreage Holdings agreement as an example of how a very-well-funded Canadian LP can be instantly transformed into a major U.S. player with full legalization.</p>\n<p>During an interview Feb. 16, Christian Magoon, the CEO of Amplify ETFs, said CNBS was the best-performing U.S. ETF during 2021 through Feb. 15, excluding inverse and leveraged ETFs. He also said the firm was “actively exploring the possibility that CNBS will be able to invest in derivative securities.”</p>\n<p>So it is possible that at some point CNBS will be making indirect investments in the MSOs as well.</p>\n<p><b>Actively managed cannabis ETFs’ returns</b></p>\n<p>Here’s a comparison of total returns for the three actively managed ETFs, as well as the ETFMG Alternative Harvest ETFMJ,which is passively managed and is the oldest cannabis ETF.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/196986c7c6b0c84909a7a3f84e23761a\" tg-width=\"620\" tg-height=\"530\"><span>(FACTSET)</span></p>\n<p>All have made dramatic upward moves this year, but you can see that CNBS has doubled, followed by MJ and the two AdvisorShares ETFs.</p>\n<p>The AdvisorShares Pure US Cannabis ETF (MSOS) was established in September 2020. So this next chart compares total returns for the other three ETFs during 2020:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9cda269c092ed2d8f49820112cc3465\" tg-width=\"620\" tg-height=\"530\"><span>(FACTSET)</span></p>\n<p>So last year YOLO, which holds MSOs as well as LPs, was the best performer, while MJ’s passive approach underperformed. YOLO and CNBS both achieved significant returns, even though all five LPs were mixed, with brutal declines for Tilray and Aurora Cannabis shares:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/913ab86b9b93d3f1760d2e106251b076\" tg-width=\"620\" tg-height=\"530\"><span>(FACTSET)</span></p>","source":"market_watch","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>If you want to get rich with marijuana stocks, you need to know the crucial difference between U.S. and Canadian companies</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\">\nIf you want to get rich with marijuana stocks, you need to know the crucial difference between U.S. and Canadian companies\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-22 16:39 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/if-you-want-to-get-rich-with-marijuana-stocks-you-need-to-know-the-crucial-difference-between-u-s-and-canadian-companies-11613658205?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>U.S. companies are overlooked by many investors. But any state and federal legalization favors them over Canadian rivals, fund managers say.\nThe marijuana business is rightly described as a fledging ...</p>\n\n<a href=\"https://www.marketwatch.com/story/if-you-want-to-get-rich-with-marijuana-stocks-you-need-to-know-the-crucial-difference-between-u-s-and-canadian-companies-11613658205?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ACB":"奥罗拉大麻公司","TLRY":"Tilray Inc.","SNDL":"SNDL Inc.","APHA":"Aphria Inc.","MJ":"Amplify Alternative Harvest ETF","CRON":"Cronos Group Inc.","CGC":"Canopy Growth Corporation"},"source_url":"https://www.marketwatch.com/story/if-you-want-to-get-rich-with-marijuana-stocks-you-need-to-know-the-crucial-difference-between-u-s-and-canadian-companies-11613658205?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"1157730634","content_text":"U.S. companies are overlooked by many investors. But any state and federal legalization favors them over Canadian rivals, fund managers say.\nThe marijuana business is rightly described as a fledging industry. But what investors see as a potential promised land may be further off than many expect because full federal legalization may take a long time.\nThe unfolding legalization of marijuana in U.S. states makes this a complicated and potentially lucrative space for investors. Most marijuana ETFs are passively managed, meaning they track indexes.\nThe following discussion points to an advantage for active managers of exchange traded funds who can tailor strategies as the legal landscape changes.\nMeanwhile, investors had better rethink their focus on Canadian cannabis companies, some of which may be cut out of a big piece of the industry action. The devil is in the details.\nFor broad coverage of the dynamic marijuana industry, see Cannabis Watch.\n\nMarijuana has been legalized for recreational use in 15 U.S. states and Washington, D.C. However, it remains illegal on the federal level. This has led to a bizarre scenario.\nThe Canadian licensed producers (known as LPs) do not sell cannabis products in the U.S. because it is against U.S. law. But shares of the largest five are listed on the Nasdaq exchange or the New York Stock Exchange:\n\nMeanwhile, the four largest U.S. companies selling marijuana products in states (and Washington D.C.) where recreational use is legalaren’tlisted on U.S. exchanges because they are engaged in activities that are technically illegal on the federal level. They are listed over the counter. These companies are known as multistate operators (MSOs):\n\nIn an August 2013 memorandum to U.S. attorneys, now known as the “Cole Memo,” James Cole, the deputy attorney general at that time, defined the Department of Justice’s position as relying on states that had legalized marijuana for recreational use to set up regulatory schemes to ensure compliance with eight DOJ goals listed on the first and second page of the document.\nSince then, the federal government hasn’t attempted to arrest people within those states for purchasing small amounts of marijuana to use recreationally.\nBut under the Investment Company Act of 1940, mutual funds and exchange traded funds are still not allowed to own shares of the MSOs.\nAdvisorShares has been able to work around this problem by purchasing MSO stock total return swaps in the Advisor Shares Pure Cannabis ETF YOLO and the AdvisorShares Pure US Cannabis ETFMSOS.The Securities and Exchange Commission required AdvisorShares to get an outside legal opinion about the total return swaps, which you can read on the AdvisorShares website. You should also read the prospectuses for YOLO and MSOS if you consider investing in them to learn more about their investment methodologies and risks, just as you should read the prospectus for any other mutual fund or ETF you consider.\nDan Ahrens, the portfolio manager for YOLO and MSOS, said during an interview Feb. 12 that he doesn’t expect the Canadian LPs to be able to sell marijuana in the U.S. for the “foreseeable future” because “neither the Democratic-controlled Congress nor President Biden ever called for full federal legalization of marijuana.”\nThis is where the arguments begin.\nIt’s easy for a politician to say he or she wants marijuana “decriminalized” for leisure use in small amounts. But that is notfull legalization, which in addition to allowing leisure use of marijuana anywhere in the U.S., would allow banks to provide full services to U.S. marijuana producers and distributors, and allow their shares to be listed on public exchanges.\nFull legalization would also presumably open up the U.S. market to the Canadian LPs.\nSo Ahrens expects state-by-state legalization to continue, with MSOs being the biggest beneficiaries. He believes the Canadian LPs are worth investing in as well, which is why YOLO holds shares of them. Canopy Growth Corp. is 38.6% owned by Constellation Brands Inc.STZ,the brewer of Corona and Modelo beers, which has many other well-known consumer brands and holds warrants allowing it to take a majority stake in Canopy.\nThis gives Canopy deep pockets — the company has an agreement with Acreage Holdings Inc.ACRHF,another U.S. MSO, through which Canopy would acquire Acreage Holdings in the event of “changes in U.S. federal law to permit the general cultivation, distribution and possession of marijuana or to remove the regulation of such activities from the federal laws of the United States.” That language comes from page 9 of Canopy’s10k reportfor its fiscal year ended March 31, 2020.\nMSOs have a bigger business already\nHere’s a comparison of the past four quarters’ sales data for the five LPs and four MSOs. The companies’ fiscal quarters aren’t uniform, so the as-of date for the most recent reported quarter’s data that was available from FactSet on Feb. 18 is in the right-most column.\nThe most recent quarter is marked Q0, the previous quarter is Q-1, and so on. All data in all the tables is in millions of U.S. dollars.\nFirst, the Canadian LPs:\n\n\n\nCOMPANY\nSALES - Q0\nSALES - Q-1\nSALES - Q-2\nSALES - Q-3\nMARKET CAP.\nDATE OF MOST RECENT FINANCIAL REPORT\n\n\n\n\nCANOPY GROWTH CORP.\n$117\n$102\n$80\n$80\n$15,247\n12/31/2020\n\n\nAphria Inc.\n$122\n$108\n$109\n$109\n$6,528\n11/30/2020\n\n\nTilray Inc.\n$57\n$51\n$50\n$52\n$4,987\n12/31/2020\n\n\nCronos Group Inc.\n$11\n$10\n$8\n$7\n$4,445\n09/30/2020\n\n\nAurora Cannabis Inc.\n$52\n$51\n$52\n$56\n$2,578\n12/31/2020\n\n\nTotal\n$359\n$321\n$299\n$305\n$33,785\n\n\n\nFactSet\nScroll the table to see all the data. For four quarters, the five LPs had combined sales of $1.284 billion, which was up 24% from the previous four-quarter period. If we divide the combined market capitalization of $33.785 billion by the past four quarters’ sales, the trailing price-to-sales ratio for the group is 26.3.\nAnd now the U.S. MSOs:\n\n\n\nCOMPANY\nSALES - Q0\nSALES - Q-1\nSALES - Q-2\nSALES - Q-3\nMARKET CAP.\nDATE OF MOST RECENT FINANCIAL REPORT\n\n\n\n\nCURALEAF HOLDINGS INC.\n$182\n$117\n$96\n$75\n$9,891\n09/30/2020\n\n\nGreen Thumb Industries Inc.\n$157\n$120\n$103\n$76\n$6,426\n09/30/2020\n\n\nTrulieve Cannabis Corp.\n$136\n$121\n$96\n$80\n$2,789\n09/30/2020\n\n\nCresco Labs Inc.\n$153\n$94\n$66\n$41\n$2,756\n09/30/2020\n\n\nTotal\n$629\n$452\n$362\n$272\n$21,862\n\n\n\nFactSet\nAgain, you will need to scroll the table to see all the data. For four quarters, the five MSOs had combined sales of $1.715 billion, an increase of 163% from the previous four-quarter period. If we divide the combined market capitalization of $21.862 billion by the past four quarters’ sales, the trailing price-to-sales ratio for the MSOs group is 12.7\nSo the MSOs are growing their sales much more quickly and have a much lower valuation to sales.\nMaybe the valuation difference shouldn’t be such a surprise. The MSOs are only traded over the counter. So individual investors need to go out of their way to invest in them, or go with the YOLO or MSOS ETFs.\nHere’s another set of data, this time comparing net cash from operating activities for the two groups.\nFirst, the Canadian LPs:\n\n\n\nCOMPANY\nNET CASH FROM OPERATIONS - Q0\nNET CASH FROM OPERATIONS - Q-1\nNET CASH FROM OPERATIONS - Q-2\nNET CASH FROM OPERATIONS - Q-3\nFOUR-QUARTER SUM\n\n\n\n\nCANOPY GROWTH CORP.\n($72)\n($125)\n($86)\n($149)\n($431)\n\n\nAphria Inc.\n$2\n($52)\n($1)\n($41)\n($92)\n\n\nTilray Inc.\n($17)\n($35)\n($54)\n($91)\n($197)\n\n\nCronos Group Inc.\n($30)\n($37)\n($39)\n($37)\n($143)\n\n\nAurora Cannabis Inc.\n($51)\n($81)\n($30)\n($40)\n($202)\n\n\nTotal\n($168)\n($330)\n($209)\n($358)\n($1,065)\n\n\n\nFactSet\nEven though Tilray reported itsfourth-quarter resultson Feb. 17, the cash flow information above for the company is only through Sept. 30. This is because the Feb. 17 report didn’t include a statement of cash flows.\nThe LPs as a group had negative cash flow from operations for all periods, according to FactSet’s data.\nAnd now the U.S. MSOs:\n\n\n\nCOMPANY\nNET CASH FROM OPERATIONS - Q0\nNET CASH FROM OPERATIONS - Q-1\nNET CASH FROM OPERATIONS - Q-2\nNET CASH FROM OPERATIONS - Q-3\nFOUR-QUARTER SUM\n\n\n\n\nCURALEAF HOLDINGS INC.\n($28)\n$23\n($2)\n($18)\n($25)\n\n\nGreen Thumb Industries Inc.\n$18\n$37\n$30\n($15)\n$70\n\n\nTrulieve Cannabis Corp.\n($2)\n$52\n$25\n$7\n$82\n\n\nCresco Labs Inc.\n$17\n($9)\n($40)\n($5)\n($38)\n\n\nTotal\n$4\n$103\n$13\n($31)\n$89\n\n\n\nFactSet\nThe MSOs as a group had positive cash flow from operations for three of the four quarters and for the combined four quarters.\nA counter-argument\nYOLO and MSOS are actively managed. The only other actively managed Cannabis ETF is the Amplify Seymour Cannabis ETFCNBS.You can read more about CNBShere.\nDuring an interview Feb. 17, Tim Seymour, the portfolio manager of CNBS, said AdvisorShares has done “a nice job building a business where they have the ability to invest in companies I would like to own.”\nHe also said that Amplify had taken a “more conservative approach” when it established CNBS in July 2019 because the SEC had not made a broad ruling on allowing mutual funds or ETFs to invest in MSO total return swaps.\nIn addition to managing CNBS, Seymour is on the investment committee of JW Asset Management, a $2 billion hedge fund focused on the cannabis industry.\n“I am investing in companies that I believe are representative of the best exposure to investors for the best returns right now,” Seymour said. He also emphasized the importance of active management in the space.\nHe agrees with Ahrens about the importance of the U.S. market, especially if and when Congress fully legalizes marijuana and enables financial-services companies to treat the industry as it would any other legal industry.\nCanopy Growth Corp. is the largest holding of CNBS and Seymour pointed to the Acreage Holdings agreement as an example of how a very-well-funded Canadian LP can be instantly transformed into a major U.S. player with full legalization.\nDuring an interview Feb. 16, Christian Magoon, the CEO of Amplify ETFs, said CNBS was the best-performing U.S. ETF during 2021 through Feb. 15, excluding inverse and leveraged ETFs. He also said the firm was “actively exploring the possibility that CNBS will be able to invest in derivative securities.”\nSo it is possible that at some point CNBS will be making indirect investments in the MSOs as well.\nActively managed cannabis ETFs’ returns\nHere’s a comparison of total returns for the three actively managed ETFs, as well as the ETFMG Alternative Harvest ETFMJ,which is passively managed and is the oldest cannabis ETF.\n(FACTSET)\nAll have made dramatic upward moves this year, but you can see that CNBS has doubled, followed by MJ and the two AdvisorShares ETFs.\nThe AdvisorShares Pure US Cannabis ETF (MSOS) was established in September 2020. So this next chart compares total returns for the other three ETFs during 2020:\n(FACTSET)\nSo last year YOLO, which holds MSOs as well as LPs, was the best performer, while MJ’s passive approach underperformed. YOLO and CNBS both achieved significant returns, even though all five LPs were mixed, with brutal declines for Tilray and Aurora Cannabis shares:\n(FACTSET)","news_type":1},"isVote":1,"tweetType":1,"viewCount":91,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324656713,"gmtCreate":1615990874132,"gmtModify":1704789452488,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Omg","listText":"Omg","text":"Omg","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324656713","repostId":"1128306547","repostType":4,"repost":{"id":"1128306547","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":1615988989,"share":"https://ttm.financial/m/news/1128306547?lang=&edition=fundamental","pubTime":"2021-03-17 21:49","market":"us","language":"en","title":"GameStop stock rose more than 10%","url":"https://stock-news.laohu8.com/highlight/detail?id=1128306547","media":"Tiger Newspress","summary":"(March 17) GameStop stock rose more than 10%.Ahead of next week's earnings report, Telsey reiterates","content":"<p>(March 17)&nbsp;GameStop stock rose more than 10%.</p><p>Ahead of next week's earnings report, Telsey reiterates its Underperform rating on GameStop on its view that the company has not yet shown financial success.</p><p>\"Looking ahead, GameStop should benefit from: 1) the new gaming cycle, with current demand outpacing supply for new generation Microsoft and Sony consoles; 2) its agreement with RC Ventures and the board refresh; and 3) its healthy balance sheet, with a net cash position of $101MM at the end of 3Q20. However, the company has yet to show financial success in an industry that is rapidly shifting to digital.\"</p><p>Speaking of GameStop's earnings day, the conference call on March 23 at 5:00 p.m. is a must listen for GME longs and shorts.</p><p>Inquiring minds want to know if GameStop is either considering floating new shares to take advantage of hot retail-level demand or buying back shares asBank of America suggested.</p><p>Though GameStop, the poster-WSB/Reddit stock, fell for a second day on Tuesday, leaving it on pace for its worst two days in more than a month.</p><p>This is all happening ahead of the latest Congressional hearing on retail investing and short selling. The House Financial Services Committee will continue its investigation into the short squeeze of meme stocks that occurred in late January, convening seven expert witnesses to weigh in with proposals to reform U.S. market structure. That could help the system avoid a repeat of the events, when Robinhood (RBNHD) and other retail brokers restricted purchases of popular stocks to manage a surge in clearinghouse demands for collateral.</p><p><img src=\"https://static.tigerbbs.com/73faab6d55b37015a43acecf2920df83\" tg-width=\"685\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop stock rose more than 10%</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\">\nGameStop stock rose more than 10%\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\">2021-03-17 21:49</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(March 17)&nbsp;GameStop stock rose more than 10%.</p><p>Ahead of next week's earnings report, Telsey reiterates its Underperform rating on GameStop on its view that the company has not yet shown financial success.</p><p>\"Looking ahead, GameStop should benefit from: 1) the new gaming cycle, with current demand outpacing supply for new generation Microsoft and Sony consoles; 2) its agreement with RC Ventures and the board refresh; and 3) its healthy balance sheet, with a net cash position of $101MM at the end of 3Q20. However, the company has yet to show financial success in an industry that is rapidly shifting to digital.\"</p><p>Speaking of GameStop's earnings day, the conference call on March 23 at 5:00 p.m. is a must listen for GME longs and shorts.</p><p>Inquiring minds want to know if GameStop is either considering floating new shares to take advantage of hot retail-level demand or buying back shares asBank of America suggested.</p><p>Though GameStop, the poster-WSB/Reddit stock, fell for a second day on Tuesday, leaving it on pace for its worst two days in more than a month.</p><p>This is all happening ahead of the latest Congressional hearing on retail investing and short selling. The House Financial Services Committee will continue its investigation into the short squeeze of meme stocks that occurred in late January, convening seven expert witnesses to weigh in with proposals to reform U.S. market structure. That could help the system avoid a repeat of the events, when Robinhood (RBNHD) and other retail brokers restricted purchases of popular stocks to manage a surge in clearinghouse demands for collateral.</p><p><img src=\"https://static.tigerbbs.com/73faab6d55b37015a43acecf2920df83\" tg-width=\"685\" tg-height=\"479\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128306547","content_text":"(March 17) GameStop stock rose more than 10%.Ahead of next week's earnings report, Telsey reiterates its Underperform rating on GameStop on its view that the company has not yet shown financial success.\"Looking ahead, GameStop should benefit from: 1) the new gaming cycle, with current demand outpacing supply for new generation Microsoft and Sony consoles; 2) its agreement with RC Ventures and the board refresh; and 3) its healthy balance sheet, with a net cash position of $101MM at the end of 3Q20. However, the company has yet to show financial success in an industry that is rapidly shifting to digital.\"Speaking of GameStop's earnings day, the conference call on March 23 at 5:00 p.m. is a must listen for GME longs and shorts.Inquiring minds want to know if GameStop is either considering floating new shares to take advantage of hot retail-level demand or buying back shares asBank of America suggested.Though GameStop, the poster-WSB/Reddit stock, fell for a second day on Tuesday, leaving it on pace for its worst two days in more than a month.This is all happening ahead of the latest Congressional hearing on retail investing and short selling. The House Financial Services Committee will continue its investigation into the short squeeze of meme stocks that occurred in late January, convening seven expert witnesses to weigh in with proposals to reform U.S. market structure. That could help the system avoid a repeat of the events, when Robinhood (RBNHD) and other retail brokers restricted purchases of popular stocks to manage a surge in clearinghouse demands for collateral.","news_type":1},"isVote":1,"tweetType":1,"viewCount":204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":383767351,"gmtCreate":1612894356673,"gmtModify":1704875785789,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/SNDL\">$Sundial Growers Inc.(SNDL)$</a>to the moon!","listText":"<a href=\"https://laohu8.com/S/SNDL\">$Sundial Growers Inc.(SNDL)$</a>to the moon!","text":"$Sundial Growers Inc.(SNDL)$to the moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/383767351","isVote":1,"tweetType":1,"viewCount":172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340951140,"gmtCreate":1617333120180,"gmtModify":1704698889367,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Comment &amp; like pls","listText":"Comment &amp; like pls","text":"Comment & like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/340951140","repostId":"1168930514","repostType":4,"repost":{"id":"1168930514","pubTimestamp":1617332876,"share":"https://ttm.financial/m/news/1168930514?lang=&edition=fundamental","pubTime":"2021-04-02 11:07","market":"us","language":"en","title":"Li Auto Inc. March 2021 Delivery Update","url":"https://stock-news.laohu8.com/highlight/detail?id=1168930514","media":"globenewswire","summary":"BEIJING, China, April 02, 2021  -- Li Auto Inc.  , an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to rob","content":"<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.</p><p>As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.</p><p><b>About Li Auto Inc.</b></p><p>Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.</p><p>For more information, please visit:<i>http://ir.lixiang.com</i>.</p>","source":"lsy1573717531661","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>Li Auto Inc. March 2021 Delivery Update</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\">\nLi Auto Inc. March 2021 Delivery Update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html><strong>globenewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered...</p>\n\n<a href=\"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车"},"source_url":"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168930514","content_text":"BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.About Li Auto Inc.Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.For more information, please visit:http://ir.lixiang.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":328705281,"gmtCreate":1615557719843,"gmtModify":1704784516218,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"EV!","listText":"EV!","text":"EV!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/328705281","repostId":"2118912950","repostType":4,"repost":{"id":"2118912950","pubTimestamp":1615555397,"share":"https://ttm.financial/m/news/2118912950?lang=&edition=fundamental","pubTime":"2021-03-12 21:23","market":"us","language":"en","title":"Why Is Everyone Talking About Electric Vehicle Stocks?","url":"https://stock-news.laohu8.com/highlight/detail?id=2118912950","media":"Motley Fool ","summary":"Could this be the next major growth market? Some investors think so.","content":"<p>Electric vehicles and related stocks have been some of the hottest on the market over the past year. <b>Tesla</b> (NASDAQ:TSLA) has surged to new highs, and newcomers like <b>Fisker</b> (NYSE:FSR), <b><a href=\"https://laohu8.com/S/BLNK\">Blink Charging</a></b> (NASDAQ:BLNK), <b>Nikola</b> (NASDAQ:NKLA), and others have either hit the market with multi-billion dollar valuations.</p>\n<p>Why are EVs such a hot market right now? In a word: growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/24b8adabd80fb45014728bc8ba843629\" tg-width=\"700\" tg-height=\"465\"><span>Image source: Getty Images.</span></p>\n<h2>The booming EV market</h2>\n<p>In 2011, about 45,000 electric vehicles were sold globally, according to data from the International Energy Agency (IEA). &nbsp;By 2020, sales of electric vehicles had ballooned to 3.24 million, according to estimates from ev-volumes.com. And that doesn't include sales from dozens of new models hitting the market in the next few years.</p>\n<p>A lot has changed in the last decade. Range anxiety has faded away as the number of vehicles with 300 miles or more in range is growing and the network of charging stations is proliferating. Meanwhile, costs are coming down and today it's (finally) nearly as cost effective to buy an EV as a traditional vehicle.</p>\n<p>Given these trends, investors are seeing an opportunity to disrupt the old, established players in the auto market.</p>\n<h2>Disrupting Detroit</h2>\n<p>A big part of the allure of EV upstarts is the enormous market they're entering. Just look at how <b>GM</b> (NYSE:GM), <b>Ford</b> (NYSE:F), <b>Honda</b> (NYSE:HMC), <b>Toyota</b> (NYSE:TM), and <b>Volkswagen</b> (OTC:VWAGY) dwarf a relatively established company like Tesla's revenue today. These five traditional auto companies generated over $800 billion in revenue over the past year, and any EV upstart that captures even a few percentage points of that market could be a huge success.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/492f4606a05448b2b38f853f7754f150\" tg-width=\"720\" tg-height=\"503\"><span>GM Revenue (TTM) data by YCharts</span></p>\n<p>There are reasons to be bullish on EVs and even EV start-ups. EVs <i>could</i> generate higher margins than internal combustion vehicles as costs come down. For start-ups, the opportunity to build a business without dealers engrained in the business model is another huge advantage. And the electrification of all things transportation may just be getting started.</p>\n<h2>The allure of autonomous driving</h2>\n<p>On top of the growth EVs have already demonstrated, investors see more potential for autonomous driving from EV companies than their Detroit rivals. Tesla has proven that people are willing to pay for autonomous driving technology as essentially software as a service. And most EV companies today are incorporating autonomous technology in <a href=\"https://laohu8.com/S/AONE\">one</a> form or another.</p>\n<p>The difficulty is figuring out the sustainability of autonomous software as a business for automakers. Tesla's early adopters are paying $10,000 for the \"Full Self-Driving\" option, and that sets a benchmark for others to follow. While it may take a while for companies to figure out how much autonomous driving technology is worth and how to make money off it, investors see this as an option to generate incrementally higher margin revenue off each sale. Tesla, GM, Rivian, and many others are including some self-driving features or driver assistance systems that investors see as another growth opportunity tied to EVs.</p>\n<h2>Will the euphoria continue?</h2>\n<p>Thus far, electric vehicle stocks have been living off the market's hype and projections about future growth. Highly valued companies like Fisker, Nikola, and Rivian haven't even generated revenue, much less a profit. But the rubber will hit the road soon.</p>\n<p>In the next three years, dozens of EV models will be released and legacy automakers will make their run at the market. <b>General Motors</b> (NYSE:GM) has said it will make only electric vehicles by 2035, and <b>VW</b> says 50% of its U.S. sales will be electric by 2030. Big auto is coming for the upstarts, and it could be a battle that defines the auto industry over the next decade.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Is Everyone Talking About Electric Vehicle Stocks?</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\">\nWhy Is Everyone Talking About Electric Vehicle Stocks?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-12 21:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/12/why-is-everyone-talking-about-electric-vehicle-sto/><strong>Motley Fool </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Electric vehicles and related stocks have been some of the hottest on the market over the past year. Tesla (NASDAQ:TSLA) has surged to new highs, and newcomers like Fisker (NYSE:FSR), Blink Charging (...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/12/why-is-everyone-talking-about-electric-vehicle-sto/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BLNK":"Blink Charging","F":"福特汽车","VWAGY":"大众汽车ADR","TM":"丰田汽车","FSR":"菲斯克","NKLA":"Nikola Corporation","HMC":"本田汽车","GM":"通用汽车","TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/03/12/why-is-everyone-talking-about-electric-vehicle-sto/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2118912950","content_text":"Electric vehicles and related stocks have been some of the hottest on the market over the past year. Tesla (NASDAQ:TSLA) has surged to new highs, and newcomers like Fisker (NYSE:FSR), Blink Charging (NASDAQ:BLNK), Nikola (NASDAQ:NKLA), and others have either hit the market with multi-billion dollar valuations.\nWhy are EVs such a hot market right now? In a word: growth.\nImage source: Getty Images.\nThe booming EV market\nIn 2011, about 45,000 electric vehicles were sold globally, according to data from the International Energy Agency (IEA).  By 2020, sales of electric vehicles had ballooned to 3.24 million, according to estimates from ev-volumes.com. And that doesn't include sales from dozens of new models hitting the market in the next few years.\nA lot has changed in the last decade. Range anxiety has faded away as the number of vehicles with 300 miles or more in range is growing and the network of charging stations is proliferating. Meanwhile, costs are coming down and today it's (finally) nearly as cost effective to buy an EV as a traditional vehicle.\nGiven these trends, investors are seeing an opportunity to disrupt the old, established players in the auto market.\nDisrupting Detroit\nA big part of the allure of EV upstarts is the enormous market they're entering. Just look at how GM (NYSE:GM), Ford (NYSE:F), Honda (NYSE:HMC), Toyota (NYSE:TM), and Volkswagen (OTC:VWAGY) dwarf a relatively established company like Tesla's revenue today. These five traditional auto companies generated over $800 billion in revenue over the past year, and any EV upstart that captures even a few percentage points of that market could be a huge success.\nGM Revenue (TTM) data by YCharts\nThere are reasons to be bullish on EVs and even EV start-ups. EVs could generate higher margins than internal combustion vehicles as costs come down. For start-ups, the opportunity to build a business without dealers engrained in the business model is another huge advantage. And the electrification of all things transportation may just be getting started.\nThe allure of autonomous driving\nOn top of the growth EVs have already demonstrated, investors see more potential for autonomous driving from EV companies than their Detroit rivals. Tesla has proven that people are willing to pay for autonomous driving technology as essentially software as a service. And most EV companies today are incorporating autonomous technology in one form or another.\nThe difficulty is figuring out the sustainability of autonomous software as a business for automakers. Tesla's early adopters are paying $10,000 for the \"Full Self-Driving\" option, and that sets a benchmark for others to follow. While it may take a while for companies to figure out how much autonomous driving technology is worth and how to make money off it, investors see this as an option to generate incrementally higher margin revenue off each sale. Tesla, GM, Rivian, and many others are including some self-driving features or driver assistance systems that investors see as another growth opportunity tied to EVs.\nWill the euphoria continue?\nThus far, electric vehicle stocks have been living off the market's hype and projections about future growth. Highly valued companies like Fisker, Nikola, and Rivian haven't even generated revenue, much less a profit. But the rubber will hit the road soon.\nIn the next three years, dozens of EV models will be released and legacy automakers will make their run at the market. General Motors (NYSE:GM) has said it will make only electric vehicles by 2035, and VW says 50% of its U.S. sales will be electric by 2030. Big auto is coming for the upstarts, and it could be a battle that defines the auto industry over the next decade.","news_type":1},"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":369900733,"gmtCreate":1613994285022,"gmtModify":1704886588495,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Red","listText":"Red","text":"Red","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369900733","repostId":"1100241886","repostType":4,"repost":{"id":"1100241886","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":1613990937,"share":"https://ttm.financial/m/news/1100241886?lang=&edition=fundamental","pubTime":"2021-02-22 18:48","market":"fut","language":"en","title":"Bitcoin slips sharply from record highs","url":"https://stock-news.laohu8.com/highlight/detail?id=1100241886","media":"Reuters","summary":"Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in glob","content":"<p>Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite.</p>\n<p>The most popular cryptocurrency rallied over the weekend to record levels, almost doubling year-to-date. It hit a market capitalisation of $1 trillion on Friday.</p>\n<p>Bitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon.</p>\n<p>It fell as much as 6% on Monday, and was last trading down 4.4% at $54,941. Rival cryptocurrency ether fell 7% to $1,798 after also hitting a record high on Saturday.</p>\n<p>Traders said the move was largely technical, and not tied to any particular news catalyst.</p>\n<p>“We did finally see some momentum gathering over the weekend, but weekend rallies haven’t been sustainable lately,” said Joseph Edwards of Enigma Securities, a cryptocurrency broker in London.</p>\n<p>“We do tend to think that there’s a good chance of a down week and small correction coming in off of this, although it does little to dull medium-term prospects.”</p>\n<p>Tesla boss Elon Musk, whose tweets on bitcoin have added fuel to the cryptocurrency’s rally, said on Saturday the price of bitcoin and ethereum seemed high.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bitcoin slips sharply from record highs</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\">\nBitcoin slips sharply from record highs\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\">2021-02-22 18:48</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite.</p>\n<p>The most popular cryptocurrency rallied over the weekend to record levels, almost doubling year-to-date. It hit a market capitalisation of $1 trillion on Friday.</p>\n<p>Bitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon.</p>\n<p>It fell as much as 6% on Monday, and was last trading down 4.4% at $54,941. Rival cryptocurrency ether fell 7% to $1,798 after also hitting a record high on Saturday.</p>\n<p>Traders said the move was largely technical, and not tied to any particular news catalyst.</p>\n<p>“We did finally see some momentum gathering over the weekend, but weekend rallies haven’t been sustainable lately,” said Joseph Edwards of Enigma Securities, a cryptocurrency broker in London.</p>\n<p>“We do tend to think that there’s a good chance of a down week and small correction coming in off of this, although it does little to dull medium-term prospects.”</p>\n<p>Tesla boss Elon Musk, whose tweets on bitcoin have added fuel to the cryptocurrency’s rally, said on Saturday the price of bitcoin and ethereum seemed high.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1100241886","content_text":"Bitcoin fell sharply on Monday after surging to a record $58,354 a day earlier, as a selloff in global equities curbed risk appetite.\nThe most popular cryptocurrency rallied over the weekend to record levels, almost doubling year-to-date. It hit a market capitalisation of $1 trillion on Friday.\nBitcoin’s gains have been fueled by signs it is gaining acceptance among mainstream investors and companies, from Tesla Inc and Mastercard Inc to BNY Mellon.\nIt fell as much as 6% on Monday, and was last trading down 4.4% at $54,941. Rival cryptocurrency ether fell 7% to $1,798 after also hitting a record high on Saturday.\nTraders said the move was largely technical, and not tied to any particular news catalyst.\n“We did finally see some momentum gathering over the weekend, but weekend rallies haven’t been sustainable lately,” said Joseph Edwards of Enigma Securities, a cryptocurrency broker in London.\n“We do tend to think that there’s a good chance of a down week and small correction coming in off of this, although it does little to dull medium-term prospects.”\nTesla boss Elon Musk, whose tweets on bitcoin have added fuel to the cryptocurrency’s rally, said on Saturday the price of bitcoin and ethereum seemed high.","news_type":1},"isVote":1,"tweetType":1,"viewCount":16,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":385278097,"gmtCreate":1613559601219,"gmtModify":1704882017334,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/385278097","repostId":"1153738409","repostType":2,"repost":{"id":"1153738409","pubTimestamp":1613534408,"share":"https://ttm.financial/m/news/1153738409?lang=&edition=fundamental","pubTime":"2021-02-17 12:00","market":"us","language":"en","title":"George Soros Bets on QuantumScape as Palantir Stake Sale Looms","url":"https://stock-news.laohu8.com/highlight/detail?id=1153738409","media":"Bloomberg","summary":"Firm held $280 million QuantumScape stake, exited DraftKingsPalantir position worth $435 million aft","content":"<ul><li>Firm held $280 million QuantumScape stake, exited DraftKings</li><li>Palantir position worth $435 million after stock surge</li></ul><p>Soros Fund Management&nbsp;disclosed a stake in an electric-vehicle-battery startup as the billionaire philanthropist’s investment firm raised tech bets and exited its stake in sports betting company DraftKings Inc.</p><p>George Soros’s firm said it held $4.6 billion in U.S. stocks at the end of the quarter, an $886 million increase from the prior quarterly period, according to a regulatory filing Tuesday.</p><p>Its largest new holding was a $280 million piece of&nbsp;QuantumScape Corp., which is attempting to pioneer solid-state lithium-metal batteries for electric vehicles.</p><p>Soros also disclosed that its holding in Palantir Technologies Inc., the controversial data-mining company co-founded by&nbsp;Peter Thiel, ballooned to $435 million at the end of the year after the stock surged 148% during the quarter.</p><p>Soros originally revealed it owned 18.46 million shares of Palantir in November but quickly issued a&nbsp;statement&nbsp;saying the original investment was made in 2012 and it regretted the decision.</p><p>“SFM made this investment at a time when the negative social consequences of big data were less understood,” the firm said. Soros explained that it had sold all the shares it’s permitted to sell at the time and would keep selling. “SFM does not approve of Palantir’s business practices.”</p><p>A lockup for insiders to sell shares expires this week.</p><p>Soros’s early investment in Palantir was converted into publicly traded shares when the company listed on the New York Stock Exchange in September. The firm, which relies on contracts from government entities including the U.S. Department of Defense and the Central Intelligence Agency for much of its revenue, now has a market valuation of $48.5 billion.</p><p>Soros, 90, has used his vast wealth to become one of the world’s largest funders of groups promoting justice, democracy, human rights and progressive politics through his Open Society Foundations. He’s poured billions into his philanthropic efforts, and most of his firm’s assets now belong to the foundations rather than to the Soros family.</p><p>Over the years the financier’s investments have conflicted with this philanthropic philosophy. His funds have at various times owned stakes in gun manufacturers and coal companies.</p>","source":"lsy1584095487587","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>George Soros Bets on QuantumScape as Palantir Stake Sale Looms</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\">\nGeorge Soros Bets on QuantumScape as Palantir Stake Sale Looms\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-17 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-02-17/george-soros-bets-on-quantumscape-as-palantir-stake-sale-looms?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Firm held $280 million QuantumScape stake, exited DraftKingsPalantir position worth $435 million after stock surgeSoros Fund Management disclosed a stake in an electric-vehicle-battery startup as the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-02-17/george-soros-bets-on-quantumscape-as-palantir-stake-sale-looms?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc.","QS":"Quantumscape Corp."},"source_url":"https://www.bloomberg.com/news/articles/2021-02-17/george-soros-bets-on-quantumscape-as-palantir-stake-sale-looms?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1153738409","content_text":"Firm held $280 million QuantumScape stake, exited DraftKingsPalantir position worth $435 million after stock surgeSoros Fund Management disclosed a stake in an electric-vehicle-battery startup as the billionaire philanthropist’s investment firm raised tech bets and exited its stake in sports betting company DraftKings Inc.George Soros’s firm said it held $4.6 billion in U.S. stocks at the end of the quarter, an $886 million increase from the prior quarterly period, according to a regulatory filing Tuesday.Its largest new holding was a $280 million piece of QuantumScape Corp., which is attempting to pioneer solid-state lithium-metal batteries for electric vehicles.Soros also disclosed that its holding in Palantir Technologies Inc., the controversial data-mining company co-founded by Peter Thiel, ballooned to $435 million at the end of the year after the stock surged 148% during the quarter.Soros originally revealed it owned 18.46 million shares of Palantir in November but quickly issued a statement saying the original investment was made in 2012 and it regretted the decision.“SFM made this investment at a time when the negative social consequences of big data were less understood,” the firm said. Soros explained that it had sold all the shares it’s permitted to sell at the time and would keep selling. “SFM does not approve of Palantir’s business practices.”A lockup for insiders to sell shares expires this week.Soros’s early investment in Palantir was converted into publicly traded shares when the company listed on the New York Stock Exchange in September. The firm, which relies on contracts from government entities including the U.S. Department of Defense and the Central Intelligence Agency for much of its revenue, now has a market valuation of $48.5 billion.Soros, 90, has used his vast wealth to become one of the world’s largest funders of groups promoting justice, democracy, human rights and progressive politics through his Open Society Foundations. He’s poured billions into his philanthropic efforts, and most of his firm’s assets now belong to the foundations rather than to the Soros family.Over the years the financier’s investments have conflicted with this philanthropic philosophy. His funds have at various times owned stakes in gun manufacturers and coal companies.","news_type":1},"isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355707368,"gmtCreate":1617102108254,"gmtModify":1704801990419,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Like pls!","listText":"Like pls!","text":"Like pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355707368","repostId":"1154792664","repostType":4,"isVote":1,"tweetType":1,"viewCount":340,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":355960642,"gmtCreate":1617024705886,"gmtModify":1704800972846,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Finally","listText":"Finally","text":"Finally","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355960642","repostId":"1155390932","repostType":4,"isVote":1,"tweetType":1,"viewCount":253,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325253951,"gmtCreate":1615903323073,"gmtModify":1704788236114,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"Crypto!","listText":"Crypto!","text":"Crypto!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325253951","repostId":"1152144890","repostType":4,"repost":{"id":"1152144890","pubTimestamp":1615900369,"share":"https://ttm.financial/m/news/1152144890?lang=&edition=fundamental","pubTime":"2021-03-16 21:12","market":"us","language":"en","title":"Stocks and Bitcoin could get a $40 billion influx of stimulus cash: At the Open","url":"https://stock-news.laohu8.com/highlight/detail?id=1152144890","media":"seekingalpha","summary":"A slight bid remains in stock futures after late buying on Monday brought about new record closes.\nT","content":"<p>A slight bid remains in stock futures after late buying on Monday brought about new record closes.</p>\n<p>The 10-year Treasury yield is little changed, hovering around 1.6% with the Federal Reserve's two-day policy meeting starting today.</p>\n<p>About $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to&nbsp;growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.</p>\n<p>President Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.</p>\n<p>Looking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.</p>\n<p>Aside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"</p>\n<p>Last year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.</p>\n<p>Today, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.</p>\n<p>(NYSEARCA:SPY)&nbsp;+0.2%premarket,(NASDAQ:QQQ)&nbsp;+0.6%,(NYSEARCA:DIA)&nbsp;+0.1%,(NYSEARCA:TBT)&nbsp;-0.4%,(NASDAQ:TLT)&nbsp;-0.1%</p>\n<p>And as direct stimulus checks start arriving in bank accounts, markets can expect to see a sizable portion of stimulus funds, according to a recent survey.</p>\n<p>Mizuho Securities surveyed 235 people who expect to get checks, with 20% expecting to allocate up to 20% of the checks to Bitcoin (BTC-USD), stocks or both. In addition, 13% would invest up to 80% and 2% would invest 80% of more.</p>\n<p>About 10% of $380B sent out in direct checks could be invested, approaching $40B, according to Mizuho.</p>\n<p>\"Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” Mizuho analysts Dan Dolev and Ryan Coyne wrote in a note, according to MarketWatch.</p>\n<p>As this year's tax refund season gets underway, a portion of those checks, in many cases larger than the $1,400 payments just sent, could also find its way into the markets.</p>\n<p>DataTrek Research notes:</p>\n<p>The average refund size is down just 0.7% from 2020 at $2,990.</p>\n<p>Tax season is off to a slow start, with 25% fewer returns filed, which will delay refund checks.</p>\n<p>The number of refunds is down 32%, more than the decline in returns, which \"points to the possibility that many Americans who customarily get a refund will not receive one this year.\"</p>\n<p>About $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to&nbsp;growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.</p>\n<p>President Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.</p>\n<p>Looking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.</p>\n<p>Aside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"</p>\n<p>Last year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.</p>\n<p>Today, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.</p>\n<p><img src=\"https://static.tigerbbs.com/62b15328d72290261522bedcdec6ab76\" tg-width=\"1168\" tg-height=\"450\"></p>","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>Stocks and Bitcoin could get a $40 billion influx of stimulus cash: At the Open</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\">\nStocks and Bitcoin could get a $40 billion influx of stimulus cash: At the Open\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-16 21:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3673039-stocks-and-bitcoin-could-get-a-40-billion-influx><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A slight bid remains in stock futures after late buying on Monday brought about new record closes.\nThe 10-year Treasury yield is little changed, hovering around 1.6% with the Federal Reserve's two-day...</p>\n\n<a href=\"https://seekingalpha.com/news/3673039-stocks-and-bitcoin-could-get-a-40-billion-influx\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://seekingalpha.com/news/3673039-stocks-and-bitcoin-could-get-a-40-billion-influx","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1152144890","content_text":"A slight bid remains in stock futures after late buying on Monday brought about new record closes.\nThe 10-year Treasury yield is little changed, hovering around 1.6% with the Federal Reserve's two-day policy meeting starting today.\nAbout $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.\nPresident Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.\nLooking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.\nAside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"\nLast year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.\nToday, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.\n(NYSEARCA:SPY) +0.2%premarket,(NASDAQ:QQQ) +0.6%,(NYSEARCA:DIA) +0.1%,(NYSEARCA:TBT) -0.4%,(NASDAQ:TLT) -0.1%\nAnd as direct stimulus checks start arriving in bank accounts, markets can expect to see a sizable portion of stimulus funds, according to a recent survey.\nMizuho Securities surveyed 235 people who expect to get checks, with 20% expecting to allocate up to 20% of the checks to Bitcoin (BTC-USD), stocks or both. In addition, 13% would invest up to 80% and 2% would invest 80% of more.\nAbout 10% of $380B sent out in direct checks could be invested, approaching $40B, according to Mizuho.\n\"Bitcoin is the preferred investment choice among check recipients. It comprises nearly 60% of the incremental spend, which may imply $25 billion of incremental spend on bitcoin from stimulus checks,” Mizuho analysts Dan Dolev and Ryan Coyne wrote in a note, according to MarketWatch.\nAs this year's tax refund season gets underway, a portion of those checks, in many cases larger than the $1,400 payments just sent, could also find its way into the markets.\nDataTrek Research notes:\nThe average refund size is down just 0.7% from 2020 at $2,990.\nTax season is off to a slow start, with 25% fewer returns filed, which will delay refund checks.\nThe number of refunds is down 32%, more than the decline in returns, which \"points to the possibility that many Americans who customarily get a refund will not receive one this year.\"\nAbout $530B of the $1.9T relief bill was actual stimulus, and an infrastructure bill will be more important to growth because there is a political, economic and social need to build back middle-income earners, TS Lombard Steven Blitz says. But he adds that it's perplexing that a plan to boost capital investment would includea hike in capital gains taxes.\nPresident Joe Biden is eyeing the first major U.S. tax hike since 1993, with corporations and wealthier individuals in focus.\nLooking at the ratio of tax receipts to GDP (chart below), the relationship is remarkably stable since 1950, DataTrek says.\nAside \"from that Great Recession low, Federal tax receipts have moved in a reliable band of 15 – 20 percent of GDP for going on 70 years. Marginal individual and corporate tax rates have varied considerably over the period, but it has not mattered very much in terms of how much GDP ends up going to Washington\"\nLast year's tax receipts weren't anywhere near as bad as the Great Recession, but the large fiscal stimulus is a big asterisk, DataTrek adds.\nToday, Seeking Alpha contributor Cliff Droke writes that stimulus funds willboost cyclical stocks, even if they come with rising interest rates.","news_type":1},"isVote":1,"tweetType":1,"viewCount":171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325250323,"gmtCreate":1615903264362,"gmtModify":1704788233355,"author":{"id":"3568670970452812","authorId":"3568670970452812","authorIdStr":"3568670970452812","name":"Andycgh","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":5,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3568670970452812"},"themes":[],"htmlText":"D day tmr","listText":"D day tmr","text":"D day tmr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/325250323","repostId":"1121564086","repostType":4,"repost":{"id":"1121564086","pubTimestamp":1615899026,"share":"https://ttm.financial/m/news/1121564086?lang=&edition=fundamental","pubTime":"2021-03-16 20:50","market":"us","language":"en","title":"Larry McDonald Warns \"The Big [Market] Quake Is Coming\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1121564086","media":"zerohedge","summary":"The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech ","content":"<p>The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the future course of its monetary policy this Wednesday.</p>\n<p><i><b>«The Fed has its back against the wall,»</b></i>says Larry McDonald during a conversation via Zoom. The internationally renowned macro strategist and former senior trader at Lehman Brothers warns that the Federal Reserve has little time to mitigate the explosive situation in the bond and currency markets. Otherwise, he says, the global economy is at risk of another crisis.</p>\n<p>Since last spring, the founder of the independent investment advisor&nbsp;The Bear Traps Report&nbsp;has been&nbsp;recommending investments&nbsp;in the commodity sector, where he believes a new super cycle has begun. He&nbsp;reiterated his recommendation&nbsp;during his last conversation with The Market in late 2020. Today, his call for a big reflation trade has become the consensus on Wall Street.</p>\n<p>In this new interview with The Market/NZZ, which has been edited and condensed for clarity, Larry McDonald tells why he expects the Federal Reserve to resort to yield curve control fairly soon and what that will mean for gold and silver. He also explains why the rotation into commodities and value stocks is only just beginning and where he currently sees the best opportunities for investments.</p>\n<p><b>After the turmoil of the past few weeks, all eyes are on the Federal Reserve. What can investors expect from Wednesday's Fed meeting?</b></p>\n<blockquote>\n <b>We’re at a point where the market is moving way ahead of the Federal Reserve.</b>The Fed is on «outcome-based guidance», but the beast, that serpent in the market, wants more than that. Basically, the market is saying: «The US economy is going to grow 6 or 7% this year, and that will force you to taper in Q3 or Q4.» As investors are pricing in a tapering of the Fed’s asset purchases, financial conditions are tightening; especially in emerging markets, where spreads on credit default swaps are rising. So far, financial conditions are nowhere near extremely dangerous levels. But the problem is everybody thinks we’re in a similar situation as back in 2018.\n</blockquote>\n<p><b>What do you mean by that?</b></p>\n<blockquote>\n Once again, the Fed is playing «Tough Guy»: The market demands a policy pivot, but the Fed is trying to hold on to its path, essentially signaling to investors: «No way, relax». We had a similar set-up in 2013, 2016 and 2018. These were the three most significant monetary policy shifts where market pressures broke the Fed's desired policy path.\n <b>The problem is that back then the Fed had far more rope to play Tough Guy since the economy was stronger. In 2018 for instance</b>, the US economy was creating hundreds of thousands of jobs a month. In contrast, today’s employment-to-population ratio is 3.5 percentage points below January 2020 levels. This means 13 million Americans are outside the labor force. To get back to pre-pandemic levels, the economy has to create more than 540,000 jobs a month for two years.\n</blockquote>\n<p><b>So what does this mean for this week's Fed meeting?</b></p>\n<blockquote>\n <b>The Fed is planet earth’s central bank. Every time they tried to play Tough Guy, they’ve blown up the global economy.</b>This time, the Fed's Tough Guy window is much smaller. In 2018 or 2013 that window was nine to ten months. Now, it’s like two months because the economy is so weak. If they let financial conditions tighten further, they risk a major default cycle.\n <b>The negative multiplier effect of a stronger dollar is much higher to the world economy than the Fed anticipates</b>. They can't afford to let the dollar rip higher, because there is so much dollar denominated debt in the world, so much trade tied to the Greenback. If they blow that up, it will just blow back to the US and force the Fed into a policy shift anyway. It’s like with an oil change at the car repair shop: You can pay now or you can pay later. That’s why the Fed has to pay now.\n</blockquote>\n<p><b>Why?</b></p>\n<blockquote>\n <b>The Fed’s back is against the wall, all points to proactive action on March 17.</b>They must suppress taper fears and cut these risks off, or else they blow up the global economy for the 4th time since 2013. We’re hearing that they’re already getting incoming calls from emerging market central banks right now. If Fed Chairman Jay Powell plays Tough Guy by staying with the current path, without offering further assurances of deeper, more sustainable accommodation, the beast inside the market will keep pushing him until he breaks. We will see a repeat of Q4 2018 and Q1 2019, where the Fed was forced into an utterly embarrassing pivot. One of those is enough for Powell’s legacy, he doesn’t want two.\n</blockquote>\n<p><b>What kind of measures can be expected?</b></p>\n<blockquote>\n <b>Eventually, we will get the taper, but the overwhelming point is other weapons have to come first.</b>A Federal Reserve offering insufficient accommodation places markets in the crosshairs of a risk-off event. The first thing they will try to do is give some hard data points. For example, the US economy has to create 10 million jobs for the Fed to do anything on the balance sheet. Another way they can get out is calendar guidance, but that’s a more sophisticated weaponry. Bottom line, they should just say: «From now until the end of the year QE will continue at $120 billion a month, and we want PCE-inflation to get to between 2 and 2.5% and stay there for 24 months.» With that in place,\n <b>all they have to do is open the door two or three inches for yield curve control, and they can contain the dollar.</b>\n</blockquote>\n<p><b>The last time the Federal Reserve used yield curve control was during the time of World War II. Why would it resort to such a radical measure?</b></p>\n<blockquote>\n <b>Here’s the dirty little secret: Too many Treasury bonds are for sale.</b>There aren’t enough buyers, and that will force the Fed to step in. More than $3.6 trillion of US government paper was issued in 2020 versus $2.9 trillion in the prior year. With the new $1.9 trillion fiscal package coming from Washington, issuance in 2021 is slated to rise to $4 trillion. That’s a lot more than the Fed’s Treasury purchases through QE, so the spread between QE and debt issuance gets much wider. Washington is doing so much fiscal stimulus, I’m confident that this is going to force the Fed into yield curve control by September. If that’s the case, it will pressure the dollar lower and put commodities, value stocks, global cyclicals, materials and emerging markets into rotation overdrive.\n</blockquote>\n<p><b>How come?</b></p>\n<blockquote>\n <b>Yield curve control deployment is the tactical nuclear weaponry.</b>If the Fed throws out yield curve control just as a threat, it will suppress Treasury rates and real yields will go much more negative. Over the last couple of months, the issuance has overpowered inflation expectations. Think of it as a car race: Treasury issuances were driving up yields faster than inflation expectations rose. But if the Fed starts to acknowledge that they are going to bring out new weapons like calendar guidance and yield curve control, then they’re suppressing nominal yields. So if inflation expectations continue to rise, then real yields go big negative – and that’s when gold and silver will take off. I think silver can double from here until early next year. Gold could be up 50%.\n</blockquote>\n<p><b>How can investors best position themselves in this environment?</b></p>\n<blockquote>\n In terms of emerging markets, we’re\n <b>long Chile and Brazil.</b>In Asia, South Korea looks attractive. We also like the KWEB ETF which consists of the big Chinese tech stocks. In the commodity space, we have a position in the XME ETF which owns mainly\n <b>copper and steel names.</b>One of the best companies we own is Teck Resources. This stock is almost like a commodity mutual fund, because the company has exposure to copper, nickel and even energy. Another favorite is Mosaic because in a commodity cycle where you have weather problems around the world,\n <b>agricultural plays are a good bet.</b>\n</blockquote>\n<p><b>What about precious metals?</b></p>\n<blockquote>\n <b>When it comes to precious metals, we love silver miners</b>like Hecla Mining. When the Fed eases its policy, the silver miners will outperform the underlying metal, and they will outperform gold because there is more leverage there.\n</blockquote>\n<p><b>The gold price is down more than 15% since its all-time high in August. What’s the problem?</b></p>\n<blockquote>\n <b>Everyone thinks it’s 2013, so taper fears are sky high for gold. But the Fed cannot repeat its mistakes.</b>They must cap yields if they want to preserve the global economic recovery. Thus, the convexity with gold is very attractive. Every leg lower in real yields will act like a slingshot higher for gold. That’s why we love Newmont. The stock trades at 6x EBITDA with a 4% dividend yield which gives you some downside protection. And remember: The 2011-2016 commodity bust has made the balance sheet of these high quality gold mining companies a lot stronger.\n</blockquote>\n<p><b>President Joe Biden has just signed off on a $1.9 trillion economic program. What are the chances of a second stimulus bill, aimed at infrastructure?</b></p>\n<blockquote>\n It’s important to note that\n <b>a second fiscal deal for 2021 is not a slam dunk.</b>To pass the present $1.9 trillion stimulus bill, the Democrats used reconciliation. It’s a very special trick in US politics, because with reconciliation you don’t need 60 votes to pass a bill in the Senate. All you need is 50 votes. Yet, reconciliation has to be tied to a budget year. This means the next time the Democrats can use it is probably in the fourth quarter, late November or December, and tie it to the following year's budget. So the only way to do an infrastructure bill in the next six months is with a traditional piece of legislation.\n</blockquote>\n<p><b>Is that even possible, given how wide the rift between Republicans and Democrats has opened in recent years?</b></p>\n<blockquote>\n For that you need essentially ten Republicans. Right now, the centrists on the Hill, people like Mitt Romney on the Republican side or Joe Manchin on the Democrat side, are the most powerful people in Washington. They want to do an infrastructure program, but they want to finance it with tax revenue. They don’t believe in things like Modern Monetary Theory where the Fed is financing the deficit.\n <b>So you are going to need a tax hike. And in this regard, we’re hearing they could go after some type of flat tax on the FAANGs, the big technology companies.</b>\n</blockquote>\n<p><b>What does this mean for Apple, Google, Facebook and other tech heavyweights?</b></p>\n<blockquote>\n Keep in mind, we’re in a populist revolution:\n <b>The risk of inequality leading to social unrest is high, and that puts pressure on politicians to pass bills to tax the rich.</b>But a wealth tax is extremely complicated, it would take years. The simplest way to do something in terms of taxes is to tax larger companies. In the eighties, the top 100 companies in the US maintained about 45 to 50% of total profits. Today, the largest 20 companies command about 85 to 90%. In addition to that, close to 40% of the S&amp;P 500’s market cap is related to tech. So tech is the low hanging fruit for the populists in Congress to go after.\n</blockquote>\n<p><b>One more reason why tech stocks remain under pressure?</b></p>\n<blockquote>\n We run a bunch of models. For example, we look at Berkshire Hathaway’s share price versus the Nasdaq 100 or the Dow Jones Industrial versus the Nasdaq. March 8th was the second time in 2021 that the Nasdaq closed down 2% with the Dow closing higher.\n <b>We haven’t seen this type of data since the dotcom crash. It’s a very rare event which historically coincides with a longer-term rotation out of technology stocks. That’s a very encouraging signal for value stocks.</b>In this regard, we like the EWU ETF. It’s a wonderful basket of stocks because it’s full of financials and world class names like BP, Rio Tinto or Glencore. Officially, it’s called the United Kingdom ETF, but it’s more like a global value ETF.\n</blockquote>\n<p><b>Does this mean that the rotation towards cyclical stocks has only just begun?</b></p>\n<blockquote>\n <b>Many investors around the world are long a portfolio of stocks that was designed for the deflationary environment of the previous decade.</b>The decade ahead of us - with all what’s ahead in terms of fiscal and monetary stimulus, populism, regulation and taxes - will push investors toward more globally value related stocks. That’s where the best returns are going to be.\n</blockquote>\n<p><b>So the previously successful «buy the dip» strategy of simply buying more tech stocks after every decline no longer works?</b></p>\n<blockquote>\n <b>The potency of dip-buying is in decay mode.</b>Global value is really starting to kick tech in the teeth, and when that happens, it wakes up what's called «real money». Keep in mind: There is fast money, mostly hedge funds which are nimble and make quick moves. In contrast, real money moves slowly. Those types of investors don’t make asset allocation decisions quickly. They base their decisions on committees and all kinds of meetings. As a result, tectonic plates are shifting beneath our feet. We’ve seen tremors after tremors where value is starting to crush growth, and now the earthquake is coming. At Bear Traps, we have a Bloomberg chat with 650 institutional investors, and I can tell just by these conversations, that the real money is starting to move.\n <b>And when the real money moves, that’s when the big quake happens.</b>\n</blockquote>\n<p><b>What kind of dislocations will this cause?</b></p>\n<blockquote>\n <b>Tech will probably be down 30 to 40% sometime between now and the end of October.</b>Today, the market cap of the Nasdaq 100 is close to $12 trillion, but most large-cap tech stocks are unchanged since July last year, while commodity and value-related equities are up 20 to 50%. In the US, if you talk to a hundred high-net-worth families, every one of those families owns Apple, Google, Facebook and Amazon. But look what’s happening: Amazon’s stock is flat since the 4th of July 2020. That's $1.5 trillion of dead money. Last Friday, Amazon failed at the 200-day moving average again.\n <b>This is like Mike Tyson getting defeated by Buster Douglas, one of the greatest upsets in sports history. This psychology is moving through the market, pushing the capital migration process into value and commodity plays.</b>\n</blockquote>\n<p><b>However, investments in commodities are mostly not compliant with the trend towards ESG standards; especially when it comes to CO2 emissions.</b></p>\n<blockquote>\n <b>The best ESG trade on the board is nuclear power. The largest uranium company in the US is Cameco with a $7 market cap.</b>Think about that relative to Elon Musk’s net worth! I support the Green New Deal, but this needs time, because solar and wind are still too far away to produce the amount of energy needed around the world, especially in India and China. The only way to meet that demand is through nuclear power. Uranium is coming out of a ten-year bear market, and it’s going into a massive new bull market. All the contracts between power plants and uranium producers are going to be adjusted. That’s why we like the URA ETF which owns companies like Cameco. I see some of these companies as six baggers: 500% upside potential and 30 to 40% downside risk, because uranium is still a risky commodity.\n</blockquote>\n<p><b>In our&nbsp;last conversation, you recommended investments in the energy sector. Since then, names such as Chevron, Royal Dutch Shell or Exxon Mobil have advanced 25 to 60%. What do you advise investors to do now?</b></p>\n<blockquote>\n <b>For now, we’ve cut our energy book:</b>We’ve sold half of our shares in Chevron, and we’ve sold two thirds of our positions in Exxon Mobil and in the XLE ETF. What happens when you get into the fourth, fifth and sixth innings of a commodity cycle, tertiary sectors like metallurgical coal become more attractive. Sure, met coal, also known as coking coal, is not ESG friendly, but there is no way around it for steel production and hence the construction of skyscrapers, bridges and things like that. So coming into this infrastructure boom all around the world, coal has plenty of upside. That’s why we own names like Arch Resources and Peabody Energy. They’re low-leveraged, and really cheap, once again, on a risk/reward basis.\n</blockquote>\n<p><b>What are the biggest dangers to watch out for in the coming weeks and months?</b></p>\n<blockquote>\n <b>One spot to watch are all these forbearance deals in commercial real estate.</b>When we come out of Covid and the vaccines and the stimulus money are juicing through the economy, the market will be forcing the release of the forbearance on a lot of these loans. So if people don’t come back fast enough to the cities, these commercial real estate loans are going to get reset. This would mean some big defaults, and the banks own a lot of these loans. Also, a lot of leveraged loans are really rich. And then, there is potentially a fiscal cliff:\n <b>The sustainability of the $1.9 trillion stimulus package isn’t that great because a lot of it is just transfer payments replacing lost income for people staying at home. That’s why the US needs a second stimulus bill. If we don’t get a second bill, we are going to have a problem in about a year from now.</b>\n</blockquote>","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>Larry McDonald Warns \"The Big [Market] Quake Is Coming\"</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\">\nLarry McDonald Warns \"The Big [Market] Quake Is Coming\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-16 20:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/larry-mcdonald-warns-big-market-quake-coming","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1121564086","content_text":"The mood is testy. Yields on Treasuries are rising, the dollar is trending stronger, and major tech stocks are under pressure. Accordingly, tensions are high when the Federal Reserve decides on the future course of its monetary policy this Wednesday.\n«The Fed has its back against the wall,»says Larry McDonald during a conversation via Zoom. The internationally renowned macro strategist and former senior trader at Lehman Brothers warns that the Federal Reserve has little time to mitigate the explosive situation in the bond and currency markets. Otherwise, he says, the global economy is at risk of another crisis.\nSince last spring, the founder of the independent investment advisor The Bear Traps Report has been recommending investments in the commodity sector, where he believes a new super cycle has begun. He reiterated his recommendation during his last conversation with The Market in late 2020. Today, his call for a big reflation trade has become the consensus on Wall Street.\nIn this new interview with The Market/NZZ, which has been edited and condensed for clarity, Larry McDonald tells why he expects the Federal Reserve to resort to yield curve control fairly soon and what that will mean for gold and silver. He also explains why the rotation into commodities and value stocks is only just beginning and where he currently sees the best opportunities for investments.\nAfter the turmoil of the past few weeks, all eyes are on the Federal Reserve. What can investors expect from Wednesday's Fed meeting?\n\nWe’re at a point where the market is moving way ahead of the Federal Reserve.The Fed is on «outcome-based guidance», but the beast, that serpent in the market, wants more than that. Basically, the market is saying: «The US economy is going to grow 6 or 7% this year, and that will force you to taper in Q3 or Q4.» As investors are pricing in a tapering of the Fed’s asset purchases, financial conditions are tightening; especially in emerging markets, where spreads on credit default swaps are rising. So far, financial conditions are nowhere near extremely dangerous levels. But the problem is everybody thinks we’re in a similar situation as back in 2018.\n\nWhat do you mean by that?\n\n Once again, the Fed is playing «Tough Guy»: The market demands a policy pivot, but the Fed is trying to hold on to its path, essentially signaling to investors: «No way, relax». We had a similar set-up in 2013, 2016 and 2018. These were the three most significant monetary policy shifts where market pressures broke the Fed's desired policy path.\n The problem is that back then the Fed had far more rope to play Tough Guy since the economy was stronger. In 2018 for instance, the US economy was creating hundreds of thousands of jobs a month. In contrast, today’s employment-to-population ratio is 3.5 percentage points below January 2020 levels. This means 13 million Americans are outside the labor force. To get back to pre-pandemic levels, the economy has to create more than 540,000 jobs a month for two years.\n\nSo what does this mean for this week's Fed meeting?\n\nThe Fed is planet earth’s central bank. Every time they tried to play Tough Guy, they’ve blown up the global economy.This time, the Fed's Tough Guy window is much smaller. In 2018 or 2013 that window was nine to ten months. Now, it’s like two months because the economy is so weak. If they let financial conditions tighten further, they risk a major default cycle.\n The negative multiplier effect of a stronger dollar is much higher to the world economy than the Fed anticipates. They can't afford to let the dollar rip higher, because there is so much dollar denominated debt in the world, so much trade tied to the Greenback. If they blow that up, it will just blow back to the US and force the Fed into a policy shift anyway. It’s like with an oil change at the car repair shop: You can pay now or you can pay later. That’s why the Fed has to pay now.\n\nWhy?\n\nThe Fed’s back is against the wall, all points to proactive action on March 17.They must suppress taper fears and cut these risks off, or else they blow up the global economy for the 4th time since 2013. We’re hearing that they’re already getting incoming calls from emerging market central banks right now. If Fed Chairman Jay Powell plays Tough Guy by staying with the current path, without offering further assurances of deeper, more sustainable accommodation, the beast inside the market will keep pushing him until he breaks. We will see a repeat of Q4 2018 and Q1 2019, where the Fed was forced into an utterly embarrassing pivot. One of those is enough for Powell’s legacy, he doesn’t want two.\n\nWhat kind of measures can be expected?\n\nEventually, we will get the taper, but the overwhelming point is other weapons have to come first.A Federal Reserve offering insufficient accommodation places markets in the crosshairs of a risk-off event. The first thing they will try to do is give some hard data points. For example, the US economy has to create 10 million jobs for the Fed to do anything on the balance sheet. Another way they can get out is calendar guidance, but that’s a more sophisticated weaponry. Bottom line, they should just say: «From now until the end of the year QE will continue at $120 billion a month, and we want PCE-inflation to get to between 2 and 2.5% and stay there for 24 months.» With that in place,\n all they have to do is open the door two or three inches for yield curve control, and they can contain the dollar.\n\nThe last time the Federal Reserve used yield curve control was during the time of World War II. Why would it resort to such a radical measure?\n\nHere’s the dirty little secret: Too many Treasury bonds are for sale.There aren’t enough buyers, and that will force the Fed to step in. More than $3.6 trillion of US government paper was issued in 2020 versus $2.9 trillion in the prior year. With the new $1.9 trillion fiscal package coming from Washington, issuance in 2021 is slated to rise to $4 trillion. That’s a lot more than the Fed’s Treasury purchases through QE, so the spread between QE and debt issuance gets much wider. Washington is doing so much fiscal stimulus, I’m confident that this is going to force the Fed into yield curve control by September. If that’s the case, it will pressure the dollar lower and put commodities, value stocks, global cyclicals, materials and emerging markets into rotation overdrive.\n\nHow come?\n\nYield curve control deployment is the tactical nuclear weaponry.If the Fed throws out yield curve control just as a threat, it will suppress Treasury rates and real yields will go much more negative. Over the last couple of months, the issuance has overpowered inflation expectations. Think of it as a car race: Treasury issuances were driving up yields faster than inflation expectations rose. But if the Fed starts to acknowledge that they are going to bring out new weapons like calendar guidance and yield curve control, then they’re suppressing nominal yields. So if inflation expectations continue to rise, then real yields go big negative – and that’s when gold and silver will take off. I think silver can double from here until early next year. Gold could be up 50%.\n\nHow can investors best position themselves in this environment?\n\n In terms of emerging markets, we’re\n long Chile and Brazil.In Asia, South Korea looks attractive. We also like the KWEB ETF which consists of the big Chinese tech stocks. In the commodity space, we have a position in the XME ETF which owns mainly\n copper and steel names.One of the best companies we own is Teck Resources. This stock is almost like a commodity mutual fund, because the company has exposure to copper, nickel and even energy. Another favorite is Mosaic because in a commodity cycle where you have weather problems around the world,\n agricultural plays are a good bet.\n\nWhat about precious metals?\n\nWhen it comes to precious metals, we love silver minerslike Hecla Mining. When the Fed eases its policy, the silver miners will outperform the underlying metal, and they will outperform gold because there is more leverage there.\n\nThe gold price is down more than 15% since its all-time high in August. What’s the problem?\n\nEveryone thinks it’s 2013, so taper fears are sky high for gold. But the Fed cannot repeat its mistakes.They must cap yields if they want to preserve the global economic recovery. Thus, the convexity with gold is very attractive. Every leg lower in real yields will act like a slingshot higher for gold. That’s why we love Newmont. The stock trades at 6x EBITDA with a 4% dividend yield which gives you some downside protection. And remember: The 2011-2016 commodity bust has made the balance sheet of these high quality gold mining companies a lot stronger.\n\nPresident Joe Biden has just signed off on a $1.9 trillion economic program. What are the chances of a second stimulus bill, aimed at infrastructure?\n\n It’s important to note that\n a second fiscal deal for 2021 is not a slam dunk.To pass the present $1.9 trillion stimulus bill, the Democrats used reconciliation. It’s a very special trick in US politics, because with reconciliation you don’t need 60 votes to pass a bill in the Senate. All you need is 50 votes. Yet, reconciliation has to be tied to a budget year. This means the next time the Democrats can use it is probably in the fourth quarter, late November or December, and tie it to the following year's budget. So the only way to do an infrastructure bill in the next six months is with a traditional piece of legislation.\n\nIs that even possible, given how wide the rift between Republicans and Democrats has opened in recent years?\n\n For that you need essentially ten Republicans. Right now, the centrists on the Hill, people like Mitt Romney on the Republican side or Joe Manchin on the Democrat side, are the most powerful people in Washington. They want to do an infrastructure program, but they want to finance it with tax revenue. They don’t believe in things like Modern Monetary Theory where the Fed is financing the deficit.\n So you are going to need a tax hike. And in this regard, we’re hearing they could go after some type of flat tax on the FAANGs, the big technology companies.\n\nWhat does this mean for Apple, Google, Facebook and other tech heavyweights?\n\n Keep in mind, we’re in a populist revolution:\n The risk of inequality leading to social unrest is high, and that puts pressure on politicians to pass bills to tax the rich.But a wealth tax is extremely complicated, it would take years. The simplest way to do something in terms of taxes is to tax larger companies. In the eighties, the top 100 companies in the US maintained about 45 to 50% of total profits. Today, the largest 20 companies command about 85 to 90%. In addition to that, close to 40% of the S&P 500’s market cap is related to tech. So tech is the low hanging fruit for the populists in Congress to go after.\n\nOne more reason why tech stocks remain under pressure?\n\n We run a bunch of models. For example, we look at Berkshire Hathaway’s share price versus the Nasdaq 100 or the Dow Jones Industrial versus the Nasdaq. March 8th was the second time in 2021 that the Nasdaq closed down 2% with the Dow closing higher.\n We haven’t seen this type of data since the dotcom crash. It’s a very rare event which historically coincides with a longer-term rotation out of technology stocks. That’s a very encouraging signal for value stocks.In this regard, we like the EWU ETF. It’s a wonderful basket of stocks because it’s full of financials and world class names like BP, Rio Tinto or Glencore. Officially, it’s called the United Kingdom ETF, but it’s more like a global value ETF.\n\nDoes this mean that the rotation towards cyclical stocks has only just begun?\n\nMany investors around the world are long a portfolio of stocks that was designed for the deflationary environment of the previous decade.The decade ahead of us - with all what’s ahead in terms of fiscal and monetary stimulus, populism, regulation and taxes - will push investors toward more globally value related stocks. That’s where the best returns are going to be.\n\nSo the previously successful «buy the dip» strategy of simply buying more tech stocks after every decline no longer works?\n\nThe potency of dip-buying is in decay mode.Global value is really starting to kick tech in the teeth, and when that happens, it wakes up what's called «real money». Keep in mind: There is fast money, mostly hedge funds which are nimble and make quick moves. In contrast, real money moves slowly. Those types of investors don’t make asset allocation decisions quickly. They base their decisions on committees and all kinds of meetings. As a result, tectonic plates are shifting beneath our feet. We’ve seen tremors after tremors where value is starting to crush growth, and now the earthquake is coming. At Bear Traps, we have a Bloomberg chat with 650 institutional investors, and I can tell just by these conversations, that the real money is starting to move.\n And when the real money moves, that’s when the big quake happens.\n\nWhat kind of dislocations will this cause?\n\nTech will probably be down 30 to 40% sometime between now and the end of October.Today, the market cap of the Nasdaq 100 is close to $12 trillion, but most large-cap tech stocks are unchanged since July last year, while commodity and value-related equities are up 20 to 50%. In the US, if you talk to a hundred high-net-worth families, every one of those families owns Apple, Google, Facebook and Amazon. But look what’s happening: Amazon’s stock is flat since the 4th of July 2020. That's $1.5 trillion of dead money. Last Friday, Amazon failed at the 200-day moving average again.\n This is like Mike Tyson getting defeated by Buster Douglas, one of the greatest upsets in sports history. This psychology is moving through the market, pushing the capital migration process into value and commodity plays.\n\nHowever, investments in commodities are mostly not compliant with the trend towards ESG standards; especially when it comes to CO2 emissions.\n\nThe best ESG trade on the board is nuclear power. The largest uranium company in the US is Cameco with a $7 market cap.Think about that relative to Elon Musk’s net worth! I support the Green New Deal, but this needs time, because solar and wind are still too far away to produce the amount of energy needed around the world, especially in India and China. The only way to meet that demand is through nuclear power. Uranium is coming out of a ten-year bear market, and it’s going into a massive new bull market. All the contracts between power plants and uranium producers are going to be adjusted. That’s why we like the URA ETF which owns companies like Cameco. I see some of these companies as six baggers: 500% upside potential and 30 to 40% downside risk, because uranium is still a risky commodity.\n\nIn our last conversation, you recommended investments in the energy sector. Since then, names such as Chevron, Royal Dutch Shell or Exxon Mobil have advanced 25 to 60%. What do you advise investors to do now?\n\nFor now, we’ve cut our energy book:We’ve sold half of our shares in Chevron, and we’ve sold two thirds of our positions in Exxon Mobil and in the XLE ETF. What happens when you get into the fourth, fifth and sixth innings of a commodity cycle, tertiary sectors like metallurgical coal become more attractive. Sure, met coal, also known as coking coal, is not ESG friendly, but there is no way around it for steel production and hence the construction of skyscrapers, bridges and things like that. So coming into this infrastructure boom all around the world, coal has plenty of upside. That’s why we own names like Arch Resources and Peabody Energy. They’re low-leveraged, and really cheap, once again, on a risk/reward basis.\n\nWhat are the biggest dangers to watch out for in the coming weeks and months?\n\nOne spot to watch are all these forbearance deals in commercial real estate.When we come out of Covid and the vaccines and the stimulus money are juicing through the economy, the market will be forcing the release of the forbearance on a lot of these loans. So if people don’t come back fast enough to the cities, these commercial real estate loans are going to get reset. This would mean some big defaults, and the banks own a lot of these loans. Also, a lot of leveraged loans are really rich. And then, there is potentially a fiscal cliff:\n The sustainability of the $1.9 trillion stimulus package isn’t that great because a lot of it is just transfer payments replacing lost income for people staying at home. That’s why the US needs a second stimulus bill. 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