YourCFP personal page - To The Moon

YourCFP

YourCFP

No personal profile

2Follow

7Followers

0Topic

0Badge

2021-08-11

?

Sorry, the original content has been removed

2021-03-23

because it creats no value to our world

Why AMC, GameStop, and Sundial Are 3 of the Worst Stocks to Buy

2021-03-23

buy

Sorry, the original content has been removed

2021-03-01

market will tell harm or not, not officer

Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary

2021-02-28

like mlm. the winner is always the game disigner

Gamestop And High Volatility Options

2021-02-28

good news

Sorry, the original content has been removed

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3569263461157925","uuid":"3569263461157925","gmtCreate":1606252859383,"gmtModify":1706620737993,"name":"YourCFP","pinyin":"yourcfp","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":7,"headSize":2,"tweetSize":183,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":1,"name":"萌萌虎","nameTw":"萌萌虎","represent":"呱呱坠地","factor":"评论帖子3次或发布1条主帖（非转发）","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":2,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.11.17","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches $300,000","bigImgUrl":"https://static.tigerbbs.com/9d20b23f1b6335407f882bc5c2ad12c0","smallImgUrl":"https://static.tigerbbs.com/ada3b4533518ace8404a3f6dd192bd29","grayImgUrl":"https://static.tigerbbs.com/177f283ba21d1c077054dac07f88f3bd","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.07.14","exceedPercentage":"80.61%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1101},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"60.59%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":4,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":4,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":892993771,"gmtCreate":1628630106193,"gmtModify":1676529799718,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/892993771","repostId":"1125134677","repostType":4,"isVote":1,"tweetType":1,"viewCount":275,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353987848,"gmtCreate":1616455839084,"gmtModify":1704794239466,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"because it creats no value to our world&nbsp;","listText":"because it creats no value to our world&nbsp;","text":"because it creats no value to our world","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353987848","repostId":"2121120348","repostType":4,"repost":{"id":"2121120348","pubTimestamp":1616427011,"share":"https://ttm.financial/m/news/2121120348?lang=&edition=fundamental","pubTime":"2021-03-22 23:30","market":"us","language":"en","title":"Why AMC, GameStop, and Sundial Are 3 of the Worst Stocks to Buy","url":"https://stock-news.laohu8.com/highlight/detail?id=2121120348","media":"Motley Fool ","summary":"Don't let the Reddit frenzy lure you into buying terrible businesses.","content":"<p>Don't let the Reddit frenzy lure you into buying terrible businesses.</p>\n<p>Whether you're a relatively new investor or someone who's been putting your money to work in the market for five decades, there's always something new or unforeseen happening that keeps things interesting.</p>\n<p>In 2021, it's been the rise of the Reddit trader.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/77f6df9d5cb2415372006deee1d65d6d\" tg-width=\"2000\" tg-height=\"1333\"><span>Image source: Getty Images.</span></p>\n<p>Beginning in mid-January, retail investors -- mostly millennials who are relatively new to investing -- on Reddit's WallStreetBets (WSB) community chatroom began banding together to buy shares and out-of-the-money call options in highly short-sold stocks. Short-sellers are investors who are betting against a stock and hoping for its share price to decline. Since gains are capped at 100% while losses are unlimited, short-sellers tend not to stick around if a stock begins to gain a lot of upside momentum.</p>\n<p>Reddit's WSB community was able to effect short squeezes in dozens of short-sold stocks. In order for short-sellers to exit their positions, they must buy to cover. Buying stock only exacerbates the runaway train effect to the upside.</p>\n<p>Since mid-January, movie theater chain&nbsp;<b>AMC Entertainment</b> (NYSE:AMC), video game and accessories retailer&nbsp;<b>GameStop</b> (NYSE:GME), and Canadian marijuana stock&nbsp;<b>Sundial Growers</b> (NASDAQ:SNDL) have been the three most-popular plays of Reddit's retail investors. Unfortunately, they're also three of the worst stocks money can buy.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bee505c562dafe3e29f86496a282e43d\" tg-width=\"700\" tg-height=\"470\"><span>Image source: Getty Images.</span></p>\n<p><b>Here's why it could be lights-out for AMC</b></p>\n<p>AMC's popularity has to do with its perceived-to-be low share price, as well as the reopening of 99% of its theaters by March 26, according to the company. As many folks have also pointed out to me on social media, technical analysis (i.e., chart patterns) is also driving interest.</p>\n<p>However, none of these catalysts offers true substance.</p>\n<p>For instance, AMC Entertainment was on the verge of bankruptcy in mid-January, and was ultimately saved by issuing close to 165 million new shares of stock and taking on over $400 million in debt capital. The company may have more than $1 billion in cash on hand now, but it's facing aggregate operating losses over the next two years that, by Wall Street's consensus, will come in around a median of $1.7 billion. This is a fancy way of saying that AMC Entertainment almost certainly doesn't have enough cash to make it through the next 12-to-24 months, based on projected losses.</p>\n<p>Another thing to keep in mind is that AMC's theaters reopening doesn't mean things are back to normal. A vast majority of its theaters will be operating at limited capacity, and there's always the possibility that coronavirus variants lead to certain cities, counties, or states scaling back their reopening plans.</p>\n<p>But maybe the biggest slap in the face for shareholders is that AMC executives pocketed $8.3 million in bonuses just a month after stepping back from the bankruptcy ledge for their \"extraordinary efforts\" to keep AMC afloat during these challenging times.</p>\n<p>If you still need <a href=\"https://laohu8.com/S/AONE\">one</a> more damning reason to avoid AMC like the plague, here it is: The model is being disrupted. Both&nbsp;<b>AT&amp;T</b>'s WarnerMedia and&nbsp;<b>Walt Disney</b>&nbsp;are releasing new movies in 2021 on their respective streaming platforms (HBO Max and Disney+) the same day they'll hit theaters. The growth heyday for movie chains is over, and so are AMC's chances for success, in my view.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4cd041c3c1a321e640648ee5c35dd06e\" tg-width=\"700\" tg-height=\"466\"><span>Image source: Getty Images.</span></p>\n<p><b>Game over for GameStop?</b></p>\n<p>Even though it's the stock that began the Reddit frenzy, GameStop is not a company that any investors should desire to own at its current valuation.</p>\n<p>The primary buy thesis for GameStop has been its high level of short interest. When the short squeeze began in mid-January, the company's short interest, relative to float, was by far the highest on Wall Street. It's come down substantially since then, but GameStop's share price has not.</p>\n<p>If I could grasp at straws and perhaps find <a href=\"https://laohu8.com/S/AONE.U\">one</a> shred of good news to share, it's that the company's e-commerce sales have been soaring of late. During the 2020 holiday season, digital gaming sales rose by 309%. But here's the kicker: Even with a more-than-quadrupling in e-commerce sales, total sales during the holiday season still declined by 3.1%. That's primarily because GameStop shuttered 11% of its stores between the 2019 and 2020 holiday seasons.</p>\n<p>The plain-as-day issue here is that GameStop waited far too long to shift its operating focus to digital gaming. With fewer people trading in or buying used games, which used to be GameStop's high-margin, bread-and-butter growth driver, GameStop's only recourse is to attempt to backpedal its way back into the profit column. This means closing hundreds of stores annually to reduce expenses. But in spite of these precipitous closures, GameStop is likely looking at its fourth-consecutive annual loss in 2021.</p>\n<p>While it may not be game over for GameStop, the company's glory days are long gone. Its market cap today is roughly two times higher than its previous all-time high set back in 2007. The thing is, revenue has gone nowhere, and the company has pushed from recurring profits to ongoing losses. There's no way to logically justify this valuation.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/084d89ada48e3614d1b0f7ca9fd0aa9c\" tg-width=\"700\" tg-height=\"467\"><span>Image source: Getty Images.</span></p>\n<p><b>Sundial might go up in smoke</b></p>\n<p>Finally, there's Sundial Growers, which I believe is the worst marijuana stock money can buy.</p>\n<p>Similar to GameStop and AMC, Sundial has been buoyed by the Reddit crowd for its high short interest and the lure of its penny stock share price. Canadian pot stocks have also received a boost following the election of Joe Biden as President and Democrats retaking the Senate by the slimmest of majorities. There's hope that cannabis legalization in the U.S. would allow Canadian players like Sundial to enter the more lucrative U.S. market.</p>\n<p>But if there's one thing tenured investors are acutely familiar with, it's that next-big-thing investments always have losers. Sundial looks like one of those losing investment.</p>\n<p>To begin with, Sundial just might be the worst share-based diluter I've seen in years. Since the end of September, Sundial has boosted its cash on hand to $719 million Canadian, but has done so by issuing more than 1.15 billion shares (yes, with a 'b') through a combination of direct share offerings, debt-to-equity swaps, and at-the-market issuances. Were this not enough, its board approved another $1 billion (that's U.S.) mixed-shelf offering. In theory, Sundial could issue hundreds of millions of additional shares.</p>\n<p>Because of its 1.66 billion outstanding shares, Sundial has virtually no chance of ever generating a meaningful per-share profit, and it probably runs the risk of being delisted if it falls back below $1 a share. Sundial could enact a reverse split to bump up its share price and shrink its outstanding share count, but companies that utilize reverse splits are historically viewed as struggling businesses.</p>\n<p>What's more, Sundial isn't anywhere near profitability, and investors are paying close to $1.9 billion for it, excluding cash. That's close to 38 times sales for a company that's lagging the vast majority of its Canadian and U.S. peers.</p>\n<p>AMC, GameStop, and Sundial might be today's buzzy stocks, but they lack substance and have little long-term staying power. That makes all three terrible buys.</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 AMC, GameStop, and Sundial Are 3 of the Worst Stocks to Buy</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 AMC, GameStop, and Sundial Are 3 of the Worst Stocks to Buy\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-22 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/03/22/amc-gamestop-and-sundial-3-of-worst-stocks-to-buy/><strong>Motley Fool </strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Don't let the Reddit frenzy lure you into buying terrible businesses.\nWhether you're a relatively new investor or someone who's been putting your money to work in the market for five decades, there's ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/03/22/amc-gamestop-and-sundial-3-of-worst-stocks-to-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SNDL":"SNDL Inc.","AMC":"AMC院线","GME":"游戏驿站"},"source_url":"https://www.fool.com/investing/2021/03/22/amc-gamestop-and-sundial-3-of-worst-stocks-to-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121120348","content_text":"Don't let the Reddit frenzy lure you into buying terrible businesses.\nWhether you're a relatively new investor or someone who's been putting your money to work in the market for five decades, there's always something new or unforeseen happening that keeps things interesting.\nIn 2021, it's been the rise of the Reddit trader.\nImage source: Getty Images.\nBeginning in mid-January, retail investors -- mostly millennials who are relatively new to investing -- on Reddit's WallStreetBets (WSB) community chatroom began banding together to buy shares and out-of-the-money call options in highly short-sold stocks. Short-sellers are investors who are betting against a stock and hoping for its share price to decline. Since gains are capped at 100% while losses are unlimited, short-sellers tend not to stick around if a stock begins to gain a lot of upside momentum.\nReddit's WSB community was able to effect short squeezes in dozens of short-sold stocks. In order for short-sellers to exit their positions, they must buy to cover. Buying stock only exacerbates the runaway train effect to the upside.\nSince mid-January, movie theater chain AMC Entertainment (NYSE:AMC), video game and accessories retailer GameStop (NYSE:GME), and Canadian marijuana stock Sundial Growers (NASDAQ:SNDL) have been the three most-popular plays of Reddit's retail investors. Unfortunately, they're also three of the worst stocks money can buy.\nImage source: Getty Images.\nHere's why it could be lights-out for AMC\nAMC's popularity has to do with its perceived-to-be low share price, as well as the reopening of 99% of its theaters by March 26, according to the company. As many folks have also pointed out to me on social media, technical analysis (i.e., chart patterns) is also driving interest.\nHowever, none of these catalysts offers true substance.\nFor instance, AMC Entertainment was on the verge of bankruptcy in mid-January, and was ultimately saved by issuing close to 165 million new shares of stock and taking on over $400 million in debt capital. The company may have more than $1 billion in cash on hand now, but it's facing aggregate operating losses over the next two years that, by Wall Street's consensus, will come in around a median of $1.7 billion. This is a fancy way of saying that AMC Entertainment almost certainly doesn't have enough cash to make it through the next 12-to-24 months, based on projected losses.\nAnother thing to keep in mind is that AMC's theaters reopening doesn't mean things are back to normal. A vast majority of its theaters will be operating at limited capacity, and there's always the possibility that coronavirus variants lead to certain cities, counties, or states scaling back their reopening plans.\nBut maybe the biggest slap in the face for shareholders is that AMC executives pocketed $8.3 million in bonuses just a month after stepping back from the bankruptcy ledge for their \"extraordinary efforts\" to keep AMC afloat during these challenging times.\nIf you still need one more damning reason to avoid AMC like the plague, here it is: The model is being disrupted. Both AT&T's WarnerMedia and Walt Disney are releasing new movies in 2021 on their respective streaming platforms (HBO Max and Disney+) the same day they'll hit theaters. The growth heyday for movie chains is over, and so are AMC's chances for success, in my view.\nImage source: Getty Images.\nGame over for GameStop?\nEven though it's the stock that began the Reddit frenzy, GameStop is not a company that any investors should desire to own at its current valuation.\nThe primary buy thesis for GameStop has been its high level of short interest. When the short squeeze began in mid-January, the company's short interest, relative to float, was by far the highest on Wall Street. It's come down substantially since then, but GameStop's share price has not.\nIf I could grasp at straws and perhaps find one shred of good news to share, it's that the company's e-commerce sales have been soaring of late. During the 2020 holiday season, digital gaming sales rose by 309%. But here's the kicker: Even with a more-than-quadrupling in e-commerce sales, total sales during the holiday season still declined by 3.1%. That's primarily because GameStop shuttered 11% of its stores between the 2019 and 2020 holiday seasons.\nThe plain-as-day issue here is that GameStop waited far too long to shift its operating focus to digital gaming. With fewer people trading in or buying used games, which used to be GameStop's high-margin, bread-and-butter growth driver, GameStop's only recourse is to attempt to backpedal its way back into the profit column. This means closing hundreds of stores annually to reduce expenses. But in spite of these precipitous closures, GameStop is likely looking at its fourth-consecutive annual loss in 2021.\nWhile it may not be game over for GameStop, the company's glory days are long gone. Its market cap today is roughly two times higher than its previous all-time high set back in 2007. The thing is, revenue has gone nowhere, and the company has pushed from recurring profits to ongoing losses. There's no way to logically justify this valuation.\nImage source: Getty Images.\nSundial might go up in smoke\nFinally, there's Sundial Growers, which I believe is the worst marijuana stock money can buy.\nSimilar to GameStop and AMC, Sundial has been buoyed by the Reddit crowd for its high short interest and the lure of its penny stock share price. Canadian pot stocks have also received a boost following the election of Joe Biden as President and Democrats retaking the Senate by the slimmest of majorities. There's hope that cannabis legalization in the U.S. would allow Canadian players like Sundial to enter the more lucrative U.S. market.\nBut if there's one thing tenured investors are acutely familiar with, it's that next-big-thing investments always have losers. Sundial looks like one of those losing investment.\nTo begin with, Sundial just might be the worst share-based diluter I've seen in years. Since the end of September, Sundial has boosted its cash on hand to $719 million Canadian, but has done so by issuing more than 1.15 billion shares (yes, with a 'b') through a combination of direct share offerings, debt-to-equity swaps, and at-the-market issuances. Were this not enough, its board approved another $1 billion (that's U.S.) mixed-shelf offering. In theory, Sundial could issue hundreds of millions of additional shares.\nBecause of its 1.66 billion outstanding shares, Sundial has virtually no chance of ever generating a meaningful per-share profit, and it probably runs the risk of being delisted if it falls back below $1 a share. Sundial could enact a reverse split to bump up its share price and shrink its outstanding share count, but companies that utilize reverse splits are historically viewed as struggling businesses.\nWhat's more, Sundial isn't anywhere near profitability, and investors are paying close to $1.9 billion for it, excluding cash. That's close to 38 times sales for a company that's lagging the vast majority of its Canadian and U.S. peers.\nAMC, GameStop, and Sundial might be today's buzzy stocks, but they lack substance and have little long-term staying power. That makes all three terrible buys.","news_type":1},"isVote":1,"tweetType":1,"viewCount":190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353984656,"gmtCreate":1616455737475,"gmtModify":1704794237849,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"buy","listText":"buy","text":"buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353984656","repostId":"2121722120","repostType":4,"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366411033,"gmtCreate":1614549790922,"gmtModify":1704772298350,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"market will tell harm or not, not officer","listText":"market will tell harm or not, not officer","text":"market will tell harm or not, not officer","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366411033","repostId":"1181374212","repostType":4,"repost":{"id":"1181374212","pubTimestamp":1614335737,"share":"https://ttm.financial/m/news/1181374212?lang=&edition=fundamental","pubTime":"2021-02-26 18:35","market":"hk","language":"en","title":"Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary","url":"https://stock-news.laohu8.com/highlight/detail?id=1181374212","media":"cnbc","summary":"Hong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.Chan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.Chan said in his budget speech on Wednesday","content":"<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.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>Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary</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\">\nTrading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 18:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00388":"香港交易所","HSCEI":"国企指数","HSCCI":"红筹指数","HSI":"恒生指数"},"source_url":"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1181374212","content_text":"KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.\nThe move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The announcement sparked a sell-off in shares of the operator of the city’s stock exchange, and the broader Hong Kong market.\n“The Hong Kong market has been doing very well, very active, the volume has gone up quite a bit,” Chan told CNBC’s Emily Tan.\n“So, perhaps this is the time for us to increase a little bit on the stamp duty which will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” he added.\nThe financial secretary said Hong Kong authorities have in recent years launched different initiatives to enhance the competitiveness of the city’s stock market. That includes allowing listings of dual-class shares and attracting U.S.-listed Chinese companies to seek a secondary listing in Hong Kong, he said.\nHong Kong in 2020 was one of the top markets for listings globally as Chinese firms such as e-commerce giant JD.com and gaming company NetEase raised funds through secondary listings.\nIn total, the city’s stock exchange saw 132 initial public offerings worth $32.1 billion, and 199 further offerings worth $62.9 billion last year, according to data compiled by consultancy PwC.\nWith such “robust” capital markets activity, raising the trading stamp duty may offer Hong Kong “a quick solution” to increase its tax revenue in the short term, said Stanley Ho, a partner for corporate tax advisory at consultancy KPMG China.\n“However, it is also important for Hong Kong’s capital markets to stay competitive with global financial markets, many of which are trending towards reducing or removing such duties,” Ho said in a statement after Chan’s budget speech.\nChan said he remains confident of Hong Kong’s prospects as an international financial center.\nHe explained that the government is working on promoting Hong Kong as a center for sustainable and green finance, developing further the city’s fixed income markets and encouraging more activity in the asset and wealth management sectors.\nOn the stock market sell-off after his announcement of the trading tax hike, Chan said Hong Kong wasn’t the only one experiencing a “downward adjustment” following a previous run-up.\n“So, I would not be bothered by temporary fluctuations in the market. What we believe is we continue to work hard to enhance the offering of our market to further enhance the competitiveness and attractiveness of the Hong Kong market,” he said.\n“We will continue to attract inflow of international capital.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366600555,"gmtCreate":1614463676677,"gmtModify":1704771864971,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"like mlm. the winner is always the game disigner","listText":"like mlm. the winner is always the game disigner","text":"like mlm. the winner is always the game disigner","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366600555","repostId":"1146313632","repostType":4,"repost":{"id":"1146313632","pubTimestamp":1614334339,"share":"https://ttm.financial/m/news/1146313632?lang=&edition=fundamental","pubTime":"2021-02-26 18:12","market":"us","language":"en","title":"Gamestop And High Volatility Options","url":"https://stock-news.laohu8.com/highlight/detail?id=1146313632","media":"Options AI: Learn","summary":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from ","content":"<p><b>Gamestop Corp.</b>&nbsp;shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.</p><hr><p><b>Gamestop: The Expected Move</b></p><p>First, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):</p><p><img src=\"https://static.tigerbbs.com/e35872724d8db887fa09d822d622ac8c\" tg-width=\"568\" tg-height=\"817\" referrerpolicy=\"no-referrer\"></p><p>Gamestop: Call Spreads vs Outright Calls</p><p>Using March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.</p><p>Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.</p><p>With Gamestop near $105, the&nbsp;<b>March 19th 110/190 Debit Call Spread</b>&nbsp;is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.</p><p>As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:</p><p><img src=\"https://static.tigerbbs.com/b044a22bfbe5a8326f9aa3ebf56ed4fd\" tg-width=\"570\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p>And next, the 145/200 debit call spread:</p><p><img src=\"https://static.tigerbbs.com/6cdf8545f07da48f770ef81cb4e5ac53\" tg-width=\"569\" tg-height=\"792\" referrerpolicy=\"no-referrer\"></p><p>As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)</p><p>A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).</p><p>Directional Butterflies vs Outright Puts</p><p>High volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.</p><p>One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).</p><p>So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.</p><p>Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:</p><p><img src=\"https://static.tigerbbs.com/f7cb8f9b0570e854f662f3031e50ca91\" tg-width=\"573\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p>This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.</p>","source":"lsy1614334070724","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 And High Volatility Options</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 And High Volatility Options\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 18:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://learn.optionsai.com/gamestop-and-high-volatility-options/><strong>Options AI: Learn</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique ...</p>\n\n<a href=\"https://learn.optionsai.com/gamestop-and-high-volatility-options/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://learn.optionsai.com/gamestop-and-high-volatility-options/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146313632","content_text":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.Gamestop: The Expected MoveFirst, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):Gamestop: Call Spreads vs Outright CallsUsing March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.With Gamestop near $105, the March 19th 110/190 Debit Call Spread is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:And next, the 145/200 debit call spread:As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).Directional Butterflies vs Outright PutsHigh volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366600804,"gmtCreate":1614463526708,"gmtModify":1704771864326,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"good news","listText":"good news","text":"good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/366600804","repostId":"2114371822","repostType":4,"isVote":1,"tweetType":1,"viewCount":131,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3554799941327384","authorId":"3554799941327384","name":"liangwee888","avatar":"https://static.tigerbbs.com/5b494f711d74543d0aebd4ba8cd2e434","crmLevel":7,"crmLevelSwitch":1,"idStr":"3554799941327384","authorIdStr":"3554799941327384"},"content":"yes very gd news","text":"yes very gd news","html":"yes very gd news"}],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":892993771,"gmtCreate":1628630106193,"gmtModify":1676529799718,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"?","listText":"?","text":"?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/892993771","repostId":"1125134677","repostType":4,"repost":{"id":"1125134677","pubTimestamp":1628611499,"share":"https://ttm.financial/m/news/1125134677?lang=&edition=fundamental","pubTime":"2021-08-11 00:04","market":"hk","language":"zh","title":"「2021年度演讲全文」雷军：我最艰难的10个选择","url":"https://stock-news.laohu8.com/highlight/detail?id=1125134677","media":"雷军","summary":"2021年8月10日晚上19:30，小米十一周年，我做了一场年度演讲—“ \n 我的梦想，我的选择”。在两个多小时的演讲中，我首次揭秘了我最艰难的10个选择，向大家分享了这些年来，小米在追寻梦想的路上凭","content":"<section>\n  2021年8月10日晚上19:30，小米十一周年，我做了一场年度演讲—“ \n <strong>我的梦想，我的选择</strong>”。在两个多小时的演讲中，我首次揭秘了我最艰难的10个选择，向大家分享了这些年来，小米在追寻梦想的路上凭什么一路前行，又是如何一步一步成长的。 \n</section> \n<section> \n <br> \n</section> \n<section>\n  发布会上，我还宣布了小米的下一个目标： \n <strong>三年时间，拿下全球第一！</strong> \n</section> \n<section> \n <br> \n</section> \n<section>\n  此外，我和小米还为大家带来了小米MIX 4，小米平板 5、Xiaomi Sound、小米电视大师77 OLED及小米电视6 OLED，CyberDog仿生四足机器人等一系列让米粉惊喜的新产品。同时，首位小米品牌代言人诞生， \n <strong>他就是今年东京奥运会男子百米赛跑亚洲纪录创造者——苏炳添。</strong> \n</section> \n<section> \n <br> \n</section> \n<section>\n  今年是小米手机十周年，真诚感恩所有帮助过我们的米粉朋友们和合作伙伴们，一路上，我们一起同行，相信我们都能走到梦想的彼岸。 \n</section> \n<section> \n <br> \n</section> \n<section>\n  以下是本次公开演讲全文，与你分享。 \n</section> \n<section> \n <br> \n</section> \n<section> \n <strong>“</strong> \n</section> \n<section>\n  大家晚上好，欢迎大家来听我的演讲。 \n</section> \n<section> \n <br> \n</section> \n<section>\n  去年是小米公司创办十周年，我们认真做了总结和反思，用重新创业的决心，正式开启了新十年的征程。今年是小米新十年的第一年，也是小米手机发布的十周年，你会明显地感受到，小米发生了很大变化，它在一步一步成长，在一步一步长大。 \n</section> \n<section> \n <br> \n</section> \n<section>\n  前几天，小米第三次上榜了《财富》世界500强，全球排名 338名，进步了 84名。还有一个好消息，大家可能都已知道：国际调研公司IDC报告显示，2021年第二季度， \n <strong>我们的手机销量超过苹果，首次成为了全球第二</strong>。全球市场占有率达到 16.9%。也就是说，全球每卖出六部手机，就有一部小米。销量同比增长86.6%，小米正在高速成长中。 \n</section> \n<section> \n <section> \n  <img src=\"https://static.tigerbbs.com/3a62030e94f8a31280459930408a1697\"> \n </section> \n <section> \n  <span>这是一个天大的好消息，我们都非常激动。感谢所有小米同学的辛勤付出，更要感谢全球米粉十年来不离不弃的支持！</span> \n  <br> \n </section> \n <section> \n  <br> \n </section> \n <section>\n   在这个幸福的时刻，我想起七年前难忘的一幕：那是2014年11月，乌镇首届世界互联网大会上，主持人问我，小米未来发展战略。 \n </section> \n <section> \n  <br> \n </section> \n <section> \n  <section> \n   <span>那时，小米手机发布仅仅三年时间，成为了中国第一、全球第三，这真的是一个奇迹。那个时候的我，正是意气风发的时候，我脱口而出： </span> \n   <strong>五到十年，我们要做到全球第一。</strong> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    苹果是当时的全球第一。主持人马上问在场的苹果高级副总裁布鲁斯·塞维尔，你怎么看。他说，It's easy to say, it's much more difficult to do. \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    当场被打脸，无比尴尬，台下几百位观众笑成一片......我刚找到了现场的视频，大家一起看看。 \n  </section> \n  <section> \n   <div> \n    <br> \n   </div> \n  </section> \n  <section>\n    真的没有想到，7年后的今天，我们超过苹果，首次成为了全球第二！ \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/cfcf028a31cf13a6a270f6fd4a524ddb\"> \n  </section> \n  <section> \n   <span>还有更多的好消息，我们在22个国家排到第一位。在欧洲这样的发达市场，我们市场份额达到了惊人的25%。 </span> \n   <strong>我们在欧洲市场登顶了，成为了第一名！</strong> \n   <span>这是中国企业第一次达到这个成就。</span>&nbsp;\n  </section>\n  <section>\n   <img src=\"https://static.tigerbbs.com/aa89d6534acb3609052af743475d5c0f\"> \n  </section> \n  <section>\n   <span>拿到全球第二之后，大家都特别高兴，觉得全球第一唾手可得。在这里，我还是需要讲实话：不要低估世界级巨头的实力。我们还是一个年轻的公司，我们需要非常冷静看到差距，继续夯实基础，稳打稳扎， </span>\n   <strong>当前小米的任务是真正站稳全球第二</strong>\n   <span>。</span>\n   <br>\n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/400a14757145d792287eb2db7d12a478\"> \n  </section> \n  <section> \n   <span>小米的梦想就是“让全球每个人都能享受科技带来的美好生活”。这条路注定很漫长，很坎坷。我和小米全体同学们，都会拼尽全力去证明：小米的梦想一定可以实现！</span> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    去年我办了人生第一场演讲，今年我决定再办一场 ，演讲的主题是《我的梦想，我的选择》。主要想讲讲，过去这些年，为了追寻梦想，我们克服了哪些困难，做了哪些艰难选择。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>01</strong> \n  </section> \n  <section> \n   <strong>股市风云</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>1.1&nbsp;</strong> \n   <strong>破发</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    2018年初，我们经过反复商讨，决定上市。那个时候资本市场很火，投行把小米IPO发行价定在 HK$17-HK$22。几乎每个创业者都希望把价钱定得高一些，但我们毫不犹豫选择了最低价，定在 HK$17 。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们非常真诚希望，我们的股票也能和我们的产品一样，“价格厚道”。我们愿望是非常美好而朴素，但现实可能没有那么美好。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    2018年7月9号，万众瞩目的小米IPO 终于来了。现场氛围非常热烈，这是香港首家同股不同权的公司上市，也是全球第三大规模的科技股IPO，港交所还专门花30万港币定制了一面大锣，现场观礼人数超过了600人。大家期待小米开盘后股价能够暴涨。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/e22fb437d85f2286b9e9e2ac32329ca6\"> \n   <br> \n  </section> \n  <section> \n   <span>谁也没有想到，一开盘，破发了！当时，大家全懵了。破发，就是股价低于发行价了，就是 IPO 投资者全部亏了。对于IPO来说，这是一件非常难堪的事。</span> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    仪式结束后，还有很多媒体堵在门口，谁也不愿意面对尴尬时刻，我们几个躲进了港交所的一个杂物间，心里特别不是滋味。有个同事看到我们，就拍下这个尴尬的场面。\n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/8a5bdb79c7dec3b7be5197319a60471c\"> \n  </section> \n  <section>\n   <span>当天晚上，我们按计划举办了内部答谢会。大家都来向我祝贺，但我心里始终沉甸甸的。晚宴致辞时，我忍不住说：\" </span>\n   <strong>今天破发，我对不住大家了。我们会努力工作，一定要让IPO投资者至少赚一倍！</strong>\n   <span>\"</span>\n   <br>\n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    那天晚上，我喝了很多酒，只记得我跟同事反复说，我们一定要努力工作，不能亏别人的钱。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/f35420ab13e351d0a173cd1955decd68\"> \n  </section> \n  <section>\n   <span>第二天早上，我特地买了一条破洞牛仔裤，这是我一辈子第一次穿破洞裤。心里只有一个念头，我一定要牢记破发的这一天！我还专门发了一条微博，时刻提醒自己： </span>\n   <strong>虽然小米已经上市，但革命仍未成功，同志仍需努力。</strong>\n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/ae0c5c7ee1325b6fc5b8d3067e160742\">\n   <h2>「2021年度演讲全文」雷军：我最艰难的10个选择</h2>\n   <h2><strong style=\"font-size: 15px; color: rgb(51, 51, 51); -webkit-text-size-adjust: 100%;\">1.2&nbsp;</strong><span style=\"font-size: 15px; color: rgb(51, 51, 51); -webkit-text-size-adjust: 100%;\"> </span><strong style=\"font-size: 15px; color: rgb(51, 51, 51); -webkit-text-size-adjust: 100%;\">回购股票</strong></h2>\n  </section> \n  <section>\n    幸福来得太容易，第二天我们股价就涨回发行价，之后一路涨到了24块。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    正当我们踌躇满志的时候，中美贸易战升级，小米股票开始了一路跌跌不休。就这样，跌了一年多，到了2019年9月，一路跌到8.28港币。所有人的信心都几乎崩盘了，甚至还有人认为会跌到4块港币。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/43d1d8fdb1a1ec5d767fa9f41c89fd9e\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    那段时间，我的情绪非常低落，特别不愿意见投资者。有位投资者，指名一定要见我。刚见面，她就毫不客气地说，“你们小米让我亏了这么多钱，真的不知道你们是怎么干的？&nbsp;”接着，从战略到产品再到管理，把我们当小学生，数落了一个多小时。我衬衣都湿了。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    会后，我一个人在会议室呆了很久。那一刻，我非常绝望。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    那段时间跌跌不休，我无数次问自己：\"我们是如此努力的工作，小米的收入和市场份额都在增长。为什么资本市场就是不认可小米？\"我实在有点想不通：\"如果我是投资者，我自己会不会买小米股票呢？\" \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/e1c0606641bf6a44c2a0b9cd8c6491fa\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们面临一个重大选择：在股价跌到大家绝望的时候，我们自己敢不敢真金白银买自己的股票。这是一个灵魂拷问。我始终相信我们小米的事业。同时我也是个自信的人，我坚信，\" \n   <strong>最好的投资，就是投资自己</strong>\"，鼓起勇气说服大家进行回购。\n  </section> \n  <section> \n   <img src=\"\">\n   <span style=\"-webkit-text-size-adjust: 100%;\">董事会同意后，我们掏了36亿港币的真金白银，均价 9.35港币 买了大量小米股票。</span>\n   <span style=\"-webkit-text-size-adjust: 100%;\"> </span>\n   <span style=\"-webkit-text-size-adjust: 100%;\">&nbsp;</span>\n   <span style=\"-webkit-text-size-adjust: 100%;\">&nbsp;</span>\n   <br>\n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    今天回头看，真的抄到底了！但当时，这个决策需要巨大的勇气，万一抄到半山腰呢？ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    苦心人，天不负，小米股价开始慢慢回升。2020年7月10日，上市两周年的第二天，小米股价终于涨回了17块港币，也就是IPO发行价。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <span>我松了一口气，时隔两年，终于可以抬头挺胸、重新做人了！接着，小米股价一路高歌，到了2021年1月4日，收盘价 34块港币。让IPO投资者赚一倍，当初吹的牛，我们终于兑现了！ </span> \n   <strong>\"破发\"给我造成的心理阴影也终于烟消云散。</strong> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <span>那天，我很认真的跟同事们说，富途、老虎、同花顺，雪球、大智慧、自选股，这些股票软件，统统可以卸载掉了，我再也不用关心股价了！</span> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    从明天起，做一个幸福的人，喂马、劈柴、周游世界。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>02</strong> \n  </section> \n  <section> \n   <strong>高端之路</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们是如何走出股价低谷的？这几年，越是在股价低迷的时刻，我们越是憋着一口气，拼命投研发。小米要想成为一家伟大的公司，要实现自己的梦想，就一定要突破高端。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    其实，小米手机刚起步的时候，就是从高端入手的，小米手机第一代就是当时最高端的智能手机。后来我们做了面向大众用户群的红米产品，非常成功，在全球范围内，推动了智能手机的普及和移动互联网的发展。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    谁也没有想到，这个成功极大地稀释了小米品牌。再加上我们自身实力不足，小米被很多人误解成只做中低端。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    突破高端就迫在眉睫。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>2.1</strong> \n   <strong>&nbsp;小米10</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米的高端之路，从小米10正式开始。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/159365cc63dcdf3e863e70207cf089aa\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    为了把高端做好，我们不惜一切代价，死磕体验，细心打磨所有的细节。研发完成后，一测算，大家愣住了。4G升5G后大幅飙升的原材料成本，再加上巨额研发费用，要想做到不亏损，就必须同时满足两个条件：定价必须过 4000元，销量也必须过 200万台。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米手机数字系列，定价还从来没有超过3000元过。这次定 4000元，一下子贵了1000元，米粉能接受吗？这么贵的手机，我们能卖出200万台呢？ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们的团队压力巨大，通宵达旦开会，商量着各种复杂的问题：如何破圈，如何影响商务人群，甚至是不是要找跑车品牌联名等等。我也懵了，懵了一段时间后，我认为只有一条路： \n   <strong>相信米粉，依靠米粉</strong>。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    200万台听起来数量很大，但中国有1亿多人在用小米手机，有没有2%的用户相信我们，愿意给我们一次机会呢？我认为，只要把产品做好，一定会有。 \n   <strong>我们要做的，就是全力以赴做一款米粉真心认可的高端产品。</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    想明白这一点，大家的心理包袱顿时放下了。接下来的日子里，我们集中精力死磕产品，继续打磨细节。产品完工后，我们忐忑不安等待发布会，等待产品发布后用户的反馈。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    谁也想不到，2020年初，一场突如其来的新冠疫情打乱了一切。感觉整个世界都停摆了......我们精心准备的小米10怎么办？是推迟，还是取消？我们所有人都痛苦万分。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    到了2月初，我们终于做了一个艰难又大胆的决定：按原计划执行。2月13日，我们克服了重重困难，发布会如期举办了。这是一场纯线上直播的发布会，会场里除了工作人员，空无一人。戴好口罩，走向舞台时，我还是非常担心我的状态和直播发布会的效果。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"\"> \n   <span>但灯光亮起的那一瞬间，仿佛千百万米粉的身影就在眼前，仿佛听到他们此起彼伏的欢呼声。</span> \n   <span> </span> \n   <span>&nbsp;</span> \n   <span>&nbsp;</span> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    这次发布会空前成功，受到了米粉们热烈支持。第二天小米10首发， \n   <strong>1分钟突破了2亿销售额，</strong>卖疯了。这是疫情后第一场发布会，为当时全行业复产复工趟出了一条路来。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    就这样，小米冲击高端市场的第一仗，历经重重坎坷，大获全胜！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"\"> \n   <span>截至今天，小米10系列累计销量已达 577万台，小米10S到现在还在热销中。</span> \n   <span> </span> \n   <span>&nbsp;</span> \n   <span>&nbsp;</span> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>2.2</strong> \n   <strong>&nbsp;小米11 Ultra</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米10系列大卖，团队士气高涨，我们需要乘胜追击。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    影像技术是手机行业的技术制高点。相机负责人朱丹认为，硬件上，我们一定要跨越式发展，能不能把相机传感器做到手机上，大比分领先对手，让小米登上全球影像的巅峰。设计负责人朱印立刻疯了：如果这样的话，手机可能会厚到用户无法忍受。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    经过反复争论，大家终于达成了一致： \n   <strong>为手机拍照的发烧友专门做款手机，追求巅峰的相机体验，这就是 小米11 Ultra</strong>。Ultra就是极致的意思。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/689b589134ce630cc7cf2d3cbaf0a37e\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    在突破高端的路上，我们选择了这样一条路： \n   <strong>我们要不顾一切追求巅峰体验，哪怕不完美！</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    相机部花了18个月，巨资定制了 GN2 传感器，底大到吓人，尺寸将近一英寸。手机设计出来后，拍照效果非常惊艳，可以媲美索尼黑卡，但相机的凸起和 Deco 也非常夸张。这真的是一个大胆的设计。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    设计师们还是不放心，反复改进，后来拿出了比较优雅的方案：在相机Deco上加一个小屏幕，看起来就舒服了很多。改进后的产品原型出来后，我们内部同事们的评价不错，这让我心里踏实了一些。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    发布会后，米粉们评价非常强烈，我觉得主要原因是，Ultra 太强了！ \n   <strong>它以绝对优势斩获了 DXOMARK 全球总分第一名，并霸榜了122天</strong>。我一直担心的设计问题，米粉们也非常喜欢，觉得有个性，有辨识度。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/49b89a49dc8555fc3f4d5a22b245ad72\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    发布会后，Ultra 在全球范围内都引发了巨大的轰动。国际上很多科技博主都给予了极高的评价。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    这次预定的情况也远超预期，大家都特别开心。没想到，我们很快又掉到坑里了。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    Ultra 这款产品非常复杂，时间又非常紧，用户预期也非常高。我们不少细节没有达到大家期待，又被用户骂惨了。这几个月，我们组织了专门的团队在持续优化，基础体验已经有了显著的提升。待会 MIUI 负责人金凡专题给大家做汇报。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米的高端之路，其实现在才刚刚开始。我们会不惜代价持续投入，我相信，小米的高端之路就一定会成功！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>03</strong> \n  </section> \n  <section> \n   <strong>飞来横祸</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    最近一年，小米稳步增长，正是一派欣欣向荣的景象。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    谁也没有想到，今年年初就遭遇飞来横祸。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/f6878b669cb6d7c8ac92c055b65e9f03\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    1月15号早晨，美国国防部把我们列入了DoD清单。开盘后，小米股价应声大跌，跌幅超过了 30%。之后，依然狂跌不已，最低跌到 hk$21，小米市值跌掉了3000亿港币。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    DoD清单，就是美国国防部认定的“中国军方拥有或控制的中国企业清单”。被列入这个名单后，美国政府禁止美国投资者投资，这对海外上市公司的股价打击非常大。对小米全球业务开展，更是一个长期的阻碍。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们想破脑袋也不明白，小米怎么就成为了一家“涉军企业”？网上有很多段子，有网友说，是不是因为创始人叫雷军呢？ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们第一次遇到这样的事情，都有点慌。我觉得，我们应该立刻站出来澄清。管理层很快达成一致，发布公告：我们并非涉军企业，坚决反对美国国防部的无理制裁。同时联系美国国防部了解情况。麻烦的是，美国国防部说，这是军事机密，根本就不搭理你。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    眼前只有两条路：要么认了，要么起诉美国政府。一家中国公司起诉美国政府，其实胜算不大。DoD清单，当时还没有任何一个起诉成功的案例。更大的担忧是，起诉会不会激怒美国政府，招致更大的打击。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们请教了很多律师和国际关系的专家，众说纷纭，分歧很大。但小米是一家在香港上市的公众公司，我们的信息高度透明，我们对打官司还是有一定的信心。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    最后我们还是做了一个艰难的选择： \n   <strong>直接起诉美国政府，用最堂堂正正的方式来捍卫我们的合法权益！</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    起诉后，美国国防部才不得不公布了原因。2019年，小米创始人雷军获得了由工信部等评选的，\"优秀中国特色社会主义事业建设者\"的称号，工信部是中国军民融合的推动部门，所以，小米“涉军”了。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    看到这个理由，我们大家都觉得啼笑皆非。在法庭上，我们的律师问：获奖名单中多达500人，其中有七匹狼的老板、老干妈的老板，难道做服装和辣椒酱也涉军吗？ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    终于，经过几个回合的交锋。 \n   <strong>5月25日，我们赢了！</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/b51f8e8f7d637e561f3b5d88f33d4521\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    这是史无前例的胜利！在小米胜诉的鼓舞下，又有几家中国公司起诉成功！这次胜诉，对小米未来的发展影响极为深远。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>04</strong> \n  </section> \n  <section> \n   <strong>情义无价</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    前面讲的选择都是关于公司的选择，接着，我讲一个关于我个人的选择。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    这十年，大家把我和小米划了等号。其实，我还有另外一个身份，那就是金山的董事长。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我怎么成了金山的董事长呢？这来自一个\"不理智\"的决定。我对金山有非常深的感情。从22岁干到了38岁，我参与金山的全部创业过程，金山就是我全部的青春。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/6e107da472297ead39a8d8c117b2bb7c\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    2011年，我们正在热火朝天创业。金山遭遇巨大危机，求伯君、张旋龙两位大哥经常来游说我，希望我能重回金山。但我已经开始创业了，这不可能呀。他们说，兼职干也可以，只要你接就行！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    当时小米手机发布在即，正是最关键的时刻，理智告诉我：小米才刚刚起步，千头万绪，千万不要感情用事，绝对不能分心！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    但金山咋办呢？两位大哥二十多年的情义，四五千兄弟们的前途，我也于心不忍！我非常痛苦，纠结了好几个月。我们小米的几个创始人看不下去了，劝我说，\" \n   <strong>与其这么痛苦，还不如接了。天大的事情，我们大家一起扛！</strong>\" \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    他们是小米创始人，肯定希望我专注在小米业务上。但他们了解我的性格，也了解我对金山的感情，才会给我这样毫无保留的支持，当时，我非常感动。就这样，在小米联合创始人们的支持下，2011年7月7日，我正式接任了金山董事长。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我一接手，的确有点手忙脚乱。多亏了金山兄弟们齐心协力，金山逐步走出了困境，重新恢复了生机。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    今年是金山创办33周年，也是我接任董事长第十年，金山已经发生了脱胎换骨的变化，收入从不足10亿，增长到合并收入120亿，增长超过 11 倍！十年过去了，我非常欣慰，在兄弟们的帮助下，没有辜负金山，所幸也没有影响小米。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    今天看起来，当初不理智的选择，背后默默影响我的，其实就是四个字， \n   <strong>情义无价</strong>。十年来，对用户、对员工、对合作伙伴，我们始终如此。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    范海涛老师，去年她写了一本小米的传记《一往无前》。今年她又刚写了一本金山的传记《生生不息》，今天首发，已经在全渠道上架，感兴趣的朋友可以到小米有品买一本来看看。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>05</strong> \n  </section> \n  <section> \n   <strong>一路同行</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    再过几天就是8月16日，小米手机十周岁生日。感谢米粉朋友们一路同行，感谢大家一起见证了小米十年的成长。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    从小米1到小米11，加上，从MIX1 到 MIX3，这 13款手机连在一起，就是小米手机的十年。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    有米粉告诉我，他把这13款手机收全了，这让我非常惊讶。我相信小米内部也很少有人能收集齐所有的型号。我去翻了一下我的收藏，找齐这13款手机，拍了一张照片。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/643bbdc7b40e7fffd99d4e3d34abac7f\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    真诚感恩所有帮助过我们的米粉朋友们和合作伙伴们，一路上，我们一起同行，我们相信，我们都能走到梦想的彼岸。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    这十年，实在太忙了，我几乎没有休过假。去年6月，我好不容易请了几天假去云南徒步。我当时戴着墨镜、帽子，估计没有人能认出我。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/bf6f3e39c2ef89cac4dea8174ca704c0\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    在香格里拉附近的一个国家森林公园里，我偶遇了一个年轻人，大家一起徒步，边走边聊。他叫姚聪，27岁，华能集团的一名风电工程师。他在山里工作，每个月工作二十天，休息十天。偶尔也会觉得山里的工作很枯燥，但觉得风电事业还是非常有意义。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    聊着聊着，我突然发现他用的是 小米8 透明探索版。我估计他没有认出我来，就装着没看见。我们一起走了大约10公里，快结束的时候，他才突然说，雷总，能不能一起合张影？我愣了一下。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/ec67e5e142c9488778f77a4f6efedfd1\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    他说，我一开始就认出了你了，只是不想打扰你，就没说。他告诉我，他非常喜欢小米。小米每次出旗舰的时候，他都打电话找当地的代理商，叮嘱一定给他留台最好的，等他下山的时候去取。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    他说，他可以买得起任何一个品牌的手机，他也用过其他牌子，但最后他还是坚定地选择了小米。“ \n   <strong>因为小米不一样，小米的理念不是赚更多钱，小米选择了一条更艰难但是更有意义的路。</strong>” \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    他看着我，很认真的说，\"我也是一个有追求的人，所以，我更喜欢小米。” \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    这段话在我心里掀起了巨大的波澜。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我知道，世界各地有千千万万像姚聪这样的米粉，十年来一直默默支持我们、信任我们。正因为这些信任，才让我们战胜了所有困难，走到了今天的世界500强，走到了今天的全球第二。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    正因为这些信任，让我有勇气站在这里，大声告诉大家，我们下一个目标： \n   <strong>三年时间，拿下全球第一！</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米创业 11年来，我担心过失败，担心过自己的能力能不能跟上公司的发展，也担心过体力和精力，但每当遭遇巨大危机和挑战，我都会毫不犹豫挺身而出。我不是天才，也不是什么劳模，更不是什么战神，我只是个普通的工程师，追求梦想，做自己热爱的事情。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    关于梦想与选择的演讲，我们就讲到这里。 \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/5b72f47661fff94029b1beb02fea5c1d\"> \n   <strong>06</strong> \n   <br> \n  </section> \n  <section> \n   <strong>首位小米品牌代言人</strong> \n  </section> \n  <section> \n   <strong>苏炳添</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    今天发布的下半场开始前，先给大家报告一个最新的好消息： \n   <strong>中国最耀眼的短跑明星苏炳添正式成为小米的品牌代言人。</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/bb3bd762de7c98e65cab7e266829b25d\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    在看东京奥运会比赛时，苏炳添深深地打动了我。一位大学副教授，32岁的年龄，依然活跃在最激烈的男子100米赛场上，苏炳添，这次以9秒83的成绩，再次突破自我，刷新了亚洲纪录，成为第一个进入奥运会男子100米决赛的亚洲人，实现了历史性的突破。这是中国的骄傲，也是亚洲的骄傲。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    苏炳添那种奋斗、拼搏、追求极致的精神，和小米的品牌精神完全契合。能邀请到苏炳添成为小米品牌新的代言人，我非常高兴。更高兴的是，苏炳添告诉我，他一直很喜欢小米，能够为小米代言，他感到非常骄傲。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    接下来，我们正式开始新品发布环节。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>07</strong> \n  </section> \n  <h3>小米MIX 4</h3> \n  <h3><span>一款面向未来的全面屏手机</span></h3> \n  <section>\n    2016年10月25日，小米推出了全面屏概念手机小米MIX，拉开了智能手机全面屏时代的帷幕。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    今天，在万千米粉的期待中，小米MIX 4 正式亮相！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>CUP全面屏</strong>&nbsp; \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米 MIX 4搭载了前沿的「CUP全面屏」屏下相机科技，将前置相机完美隐藏于屏幕下方，没有挖孔、水滴的视觉阻碍，正面尽是一块完整的屏幕。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong><strong>▍</strong></strong> \n   <strong>Unibody全陶瓷机身</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米 MIX 4延续了MIX系列在陶瓷工艺上的探索，采用了行业独一无二的Unibody全陶瓷机身，其质感温润如玉，重量减轻30%，整体机身无接缝。它还有一款全新配色影青灰，其灵感源自宋代影青瓷，质地优雅，握在手中仿佛一件艺术品。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>UWB一指联</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    作为首款支持UWB功能的国产手机，小米MIX 4实现了厘米级精准空间定位，让手机与AIoT智能设备的连接更为安全准确，轻松选配一指连伴侣，实现完美遥控。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>充电速度再提升</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米 MIX 4配备了120W有线秒充与50W无线秒充，让充电速度再度提升。在疾速模式下，有线秒充15分钟即可充满，无线秒充28分钟充满。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    MIX，因梦想而生。它是工程师对科技的理想，它是设计师对美学的执着，更承载了万千米粉对未来的想象。小米MIX 4，献给最初的梦想，献给每一位米粉。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>08</strong> \n  </section> \n  <section> \n   <strong>小米平板 5</strong> \n  </section> \n  <section> \n   <strong>梦想人生，这次由自己执笔</strong> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    三年打磨，小米平板系列正式回归！此次小米平板5系列实现了「高效办公」、「灵感创作」和「大屏娱乐」三个核心应用场景的领先体验。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>高效办公</strong> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/dc2b8f0235416e0428e98f336efeacc3\"> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米平板5的分屏和小窗功能，可以同时使用多个软件，还可以在应用之间任意拖拽文件。另外，配备的键盘与电脑键盘布局相符，更符合打字习惯。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    这个轻薄便携的专业生产力工具，可以轻松提升工作效率。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>灵感创作</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米平板5，可随时记录创意，搭配的小米灵感触控笔，让速写笔记、设计绘画、随手涂鸦更轻松，像在纸张上书写一样自然、精准。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>大屏娱乐</strong> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米平板5，工作娱乐两不误。屏幕拥有2.5K超高分辨率和120Hz最高刷新率，支持杜比视界和杜比全景声双杜比，配合8扬声器带来的环绕立体声，精彩大片、动感音乐，都能完美呈现。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    不仅如此，它的67W有线快充，67分钟充电100%，让你随时享受，乐趣不间断。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>09</strong> \n  </section> \n  <h3>MIUI12.5增强版</h3> \n  <h3>4大优化，体验升级</h3> \n  <section> \n   <br> \n  </section> \n  <section>\n    MIUI12.5增强版，修复了用户集中反馈的系统头部问题163个，系统应用问题250个，同时从底层框架到上层应用进行了全方位优化。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/50df2379265dde3472c5031e50120d6a\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>液态存储</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section></section> \n  <section> \n   <br> \n  </section> \n  <section>\n    频繁的删除文件，也不怕存储空间碎片化造成手机卡顿，让手机久用如新。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>原子内存</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section></section> \n  <section> \n   <br> \n  </section> \n  <section>\n    就算内存不足，也不用杀后台，手机自动压缩清理无用功能，为新应用腾空间。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>焦点计算</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section></section> \n  <section> \n   <br> \n  </section> \n  <section>\n    将手机算力集中在最需要的地方，让手机全面流畅。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>智能均衡</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section></section> \n  <section> \n   <br> \n  </section> \n  <section>\n    平衡各硬件的运行，让手机更加低耗省电，对比功耗平均下降了10%。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    第一批稳定版将于8月13日起逐步推送，共包括11款机型，我们希望我们的努力能够进一步改善大家的使用体验。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>10</strong> \n  </section> \n  <h3>Xiaomi Sound</h3> \n  <h3>小巧身材，震撼音质</h3> \n  <section>\n    此次全新发布的Xiaomi Sound，拥有创新的计算音频能力、最新的联动技术，还有充满设计感的外观，好听、好看又聪明！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>震撼音质</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    HARMAN殿堂级调音和Hi-Res Audio高解析认证，带来全新的听音体验。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>全新外观</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/65a5e7677ea4f53bba2b1a5e30ec5532\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    悬浮式触控顶盖、360度全向上出音，环形透明机身的材质，摆哪儿都好看。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>UWB连接</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/9a53b83407874fa90a5a34ea5b51b235\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    音箱手机音乐接力，一键实现小米妙播。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>▍</strong> \n   <strong>家庭传声</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/81eea4d11c8e99fb8c59bfc106eda1c3\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小爱同学全屋对讲、智能联动，多设备串联成环绕立体声。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    作为小米人工智能的拳头产品，小爱音箱会为越来越多的米粉提供更好更一流的智能语音控制体验。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>11</strong> \n  </section> \n  <h3>小米电视大师77</h3> \n  <h3>超高端电视“天花板”</h3> \n  <section>\n    超高端小米电视大师77 OLED及价格厚道的小米电视6 OLED，一款是超高端新作，一款是“甜品级”爆款，共同亮相。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米电视大师77 OLED拥有超震撼视觉体验 ，77英寸大尺寸的OLED面板，亮度更高、色彩更惊艳。由小米音效（Mi Sound）与哈曼卡顿“金耳朵”团队联合打造的声音模组，带来了最专业与真实的声音享宴。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    同时，这也是小米第一台支持 UWB 一指连的电视，用手机就可以轻松遥控电视，可谓超高端电视的“天花板”。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    此外，我们还推出了年轻人第一台OLED电视—小米电视 6，用厚道的价格带来影院级的视听效果，轻松入手无负担。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>12</strong> \n  </section> \n  <h3>一个有趣的小项目</h3> \n  <h3>CyberDog仿生四足机器人</h3> \n  <section>\n    这是一个有趣的小项目，却是工程师的大梦想。今天，CyberDog正式亮相，小米第一代仿生四足机器人，来了！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    它有一个很酷的名字——CyberDog，还有一个很萌的名字——铁蛋。它采用自研伺服电机，支持语音操控，能跑会跳，还能自主避障自动跟随。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <div> \n    <div> \n     <i></i> \n    </div> \n    <div> \n     <br> \n     <br> \n    </div> \n   </div> \n  </section> \n  <section>\n    目前我们为大家提供了工程探索版，支持开源，后续会有小米开源社区。来小米社区报名，让我们一起探索未来吧～ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>13</strong> \n  </section> \n  <section> \n   <strong>1999元，3.7亿</strong> \n  </section> \n  <h3>回馈小米1首批18.46万名用户</h3> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>1999</strong>，看到这个数字，我心里还是一阵感动，这是我们小米过去十年最深的记忆。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/a0c34e5f892948bd4a4b9d17505873c6\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    十年前的今天，我一直忐忑不安：一个没有任何硬件行业经验的创业者，做了款当时最高端的手机，定价 1999元，只在网上销售，并且没有任何线下体验店，能卖得动吗？不可思议的事情发生了：8月16日发布，9月13日首发，第一次预订量就高达30万台。真的太疯狂了，远超了我们的想象。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    当时的小米，一家非常小的公司，这么多的订单完全搞不定，连滚带爬干了三个多月，到了12月17日，才完成了第一批的所有订单。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们最近仔细统计了一下，耐心等了我们几个月并支付完尾款的用户，高达 18.46万人。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <strong>1999元，18.46万台，3.7个亿，这是我们创业收到的第一笔款。有了这一笔收入，我们滚动发展，才有了今天的世界500强，才有了今天的全球第二！</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"https://static.tigerbbs.com/37b736e4211ba461d99c92dc6ade6da2\"> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    怎么才能表达我们的感激之情呢？首先肯定是把小米办成一家伟大的公司，才能不辜负大家的支持。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    在十周年这个特别的日子，我还想做一件特别的事情。我跟大家商量：能不能把小米手机首批用户的购机款全部退了？ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    啊，3.7亿，全退了？这是一笔不小的数字。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    财务部同学提醒我，我们是上市公司，这会不会影响我们的财报？市场部同学提议，这3.7个亿拿来打广告，影响会不会更大？ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我跟同事们说，当年大家的这 3.7亿，是小米成长路上的第一滴水、第一缕阳光。没有用户的支持，就不会有今天的小米。用户的心，是永远无法用金钱来衡量的！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    我们正式决定： \n   <strong>向小米手机 1首批18.46万用户，每人赠送 1999元红包！</strong> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section> \n   <img src=\"\"> \n   <span>现在开始，我想诚挚地邀请所有小米手机首批用户，回到小米商城，输入\"</span> \n   <strong>小米手机十周年</strong> \n   <span>\"，领取这份心意。这个红包，在8月16日当天，可以在小米商城买任何东西，没有任何门槛，没有任何套路。</span> \n   <br> \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    1999元红包，代表了小米三万六千名员工感恩的心！我们会永远感恩所有帮助过我们的米粉朋友们和合作伙伴们！ \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    小米的梦想就是“ \n   <strong>让全球每个人都能享受科技带来的美好生活</strong>”。这条路注定很漫长，很坎坷。但一路上，有全球几亿米粉同行，我相信，我们都一定能走到梦想的彼岸。 \n  </section> \n  <section> \n   <br> \n  </section> \n  <section>\n    谢谢大家。 \n  </section> \n  <section> \n   <div> \n    <div> \n     <i></i> \n    </div> \n    <div> \n     <br> \n    </div> \n   </div> \n  </section> \n  <br> \n </section> \n</section>","source":"lsy1576480205319","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>「2021年度演讲全文」雷军：我最艰难的10个选择</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「2021年度演讲全文」雷军：我最艰难的10个选择\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-11 00:04 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/qaAgnTH4Am-Dolg_1x7CVQ><strong>雷军</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2021年8月10日晚上19:30，小米十一周年，我做了一场年度演讲—“ \n 我的梦想，我的选择”。在两个多小时的演讲中，我首次揭秘了我最艰难的10个选择，向大家分享了这些年来，小米在追寻梦想的路上凭什么一路前行，又是如何一步一步成长的。 \n\n\n\n\n\n  发布会上，我还宣布了小米的下一个目标： \n 三年时间，拿下全球第一！\n\n\n\n\n\n  此外，我和小米还为大家带来了小米MIX 4，小米平板 5、...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/qaAgnTH4Am-Dolg_1x7CVQ\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/3e8a0e70f95b899383eec04529a52345","relate_stocks":{"01810":"小米集团-W"},"source_url":"https://mp.weixin.qq.com/s/qaAgnTH4Am-Dolg_1x7CVQ","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125134677","content_text":"2021年8月10日晚上19:30，小米十一周年，我做了一场年度演讲—“ \n 我的梦想，我的选择”。在两个多小时的演讲中，我首次揭秘了我最艰难的10个选择，向大家分享了这些年来，小米在追寻梦想的路上凭什么一路前行，又是如何一步一步成长的。 \n\n\n\n\n\n  发布会上，我还宣布了小米的下一个目标： \n 三年时间，拿下全球第一！\n\n\n\n\n\n  此外，我和小米还为大家带来了小米MIX 4，小米平板 5、Xiaomi Sound、小米电视大师77 OLED及小米电视6 OLED，CyberDog仿生四足机器人等一系列让米粉惊喜的新产品。同时，首位小米品牌代言人诞生， \n 他就是今年东京奥运会男子百米赛跑亚洲纪录创造者——苏炳添。\n\n\n\n\n\n  今年是小米手机十周年，真诚感恩所有帮助过我们的米粉朋友们和合作伙伴们，一路上，我们一起同行，相信我们都能走到梦想的彼岸。 \n\n\n\n\n\n  以下是本次公开演讲全文，与你分享。 \n\n\n\n\n\n“\n\n\n  大家晚上好，欢迎大家来听我的演讲。 \n\n\n\n\n\n  去年是小米公司创办十周年，我们认真做了总结和反思，用重新创业的决心，正式开启了新十年的征程。今年是小米新十年的第一年，也是小米手机发布的十周年，你会明显地感受到，小米发生了很大变化，它在一步一步成长，在一步一步长大。 \n\n\n\n\n\n  前几天，小米第三次上榜了《财富》世界500强，全球排名 338名，进步了 84名。还有一个好消息，大家可能都已知道：国际调研公司IDC报告显示，2021年第二季度， \n 我们的手机销量超过苹果，首次成为了全球第二。全球市场占有率达到 16.9%。也就是说，全球每卖出六部手机，就有一部小米。销量同比增长86.6%，小米正在高速成长中。 \n\n\n\n\n\n\n这是一个天大的好消息，我们都非常激动。感谢所有小米同学的辛勤付出，更要感谢全球米粉十年来不离不弃的支持！\n\n\n\n\n\n\n   在这个幸福的时刻，我想起七年前难忘的一幕：那是2014年11月，乌镇首届世界互联网大会上，主持人问我，小米未来发展战略。 \n \n\n\n\n\n\n那时，小米手机发布仅仅三年时间，成为了中国第一、全球第三，这真的是一个奇迹。那个时候的我，正是意气风发的时候，我脱口而出： \n五到十年，我们要做到全球第一。\n\n\n\n\n\n\n    苹果是当时的全球第一。主持人马上问在场的苹果高级副总裁布鲁斯·塞维尔，你怎么看。他说，It's easy to say, it's much more difficult to do. \n  \n\n\n\n\n    当场被打脸，无比尴尬，台下几百位观众笑成一片......我刚找到了现场的视频，大家一起看看。 \n  \n\n\n\n\n\n\n    真的没有想到，7年后的今天，我们超过苹果，首次成为了全球第二！ \n  \n\n\n\n\n还有更多的好消息，我们在22个国家排到第一位。在欧洲这样的发达市场，我们市场份额达到了惊人的25%。 \n我们在欧洲市场登顶了，成为了第一名！\n这是中国企业第一次达到这个成就。 \n  \n\n\n\n\n拿到全球第二之后，大家都特别高兴，觉得全球第一唾手可得。在这里，我还是需要讲实话：不要低估世界级巨头的实力。我们还是一个年轻的公司，我们需要非常冷静看到差距，继续夯实基础，稳打稳扎， \n当前小米的任务是真正站稳全球第二\n。\n\n\n\n\n\n\n\n\n\n小米的梦想就是“让全球每个人都能享受科技带来的美好生活”。这条路注定很漫长，很坎坷。我和小米全体同学们，都会拼尽全力去证明：小米的梦想一定可以实现！\n\n\n\n\n\n\n    去年我办了人生第一场演讲，今年我决定再办一场 ，演讲的主题是《我的梦想，我的选择》。主要想讲讲，过去这些年，为了追寻梦想，我们克服了哪些困难，做了哪些艰难选择。 \n  \n\n\n\n\n\n\n\n01\n\n\n股市风云\n\n\n\n\n\n1.1 \n破发\n\n\n\n\n\n    2018年初，我们经过反复商讨，决定上市。那个时候资本市场很火，投行把小米IPO发行价定在 HK$17-HK$22。几乎每个创业者都希望把价钱定得高一些，但我们毫不犹豫选择了最低价，定在 HK$17 。 \n  \n\n\n\n\n    我们非常真诚希望，我们的股票也能和我们的产品一样，“价格厚道”。我们愿望是非常美好而朴素，但现实可能没有那么美好。 \n  \n\n\n\n\n    2018年7月9号，万众瞩目的小米IPO 终于来了。现场氛围非常热烈，这是香港首家同股不同权的公司上市，也是全球第三大规模的科技股IPO，港交所还专门花30万港币定制了一面大锣，现场观礼人数超过了600人。大家期待小米开盘后股价能够暴涨。 \n  \n\n\n\n\n\n\n\n\n谁也没有想到，一开盘，破发了！当时，大家全懵了。破发，就是股价低于发行价了，就是 IPO 投资者全部亏了。对于IPO来说，这是一件非常难堪的事。\n\n\n\n\n\n\n    仪式结束后，还有很多媒体堵在门口，谁也不愿意面对尴尬时刻，我们几个躲进了港交所的一个杂物间，心里特别不是滋味。有个同事看到我们，就拍下这个尴尬的场面。\n  \n\n\n\n\n当天晚上，我们按计划举办了内部答谢会。大家都来向我祝贺，但我心里始终沉甸甸的。晚宴致辞时，我忍不住说：\" \n今天破发，我对不住大家了。我们会努力工作，一定要让IPO投资者至少赚一倍！\n\"\n\n\n\n\n\n\n    那天晚上，我喝了很多酒，只记得我跟同事反复说，我们一定要努力工作，不能亏别人的钱。 \n  \n\n\n\n\n\n\n\n第二天早上，我特地买了一条破洞牛仔裤，这是我一辈子第一次穿破洞裤。心里只有一个念头，我一定要牢记破发的这一天！我还专门发了一条微博，时刻提醒自己： \n虽然小米已经上市，但革命仍未成功，同志仍需努力。\n\n\n\n「2021年度演讲全文」雷军：我最艰难的10个选择\n1.2  回购股票\n\n\n    幸福来得太容易，第二天我们股价就涨回发行价，之后一路涨到了24块。 \n  \n\n\n\n\n    正当我们踌躇满志的时候，中美贸易战升级，小米股票开始了一路跌跌不休。就这样，跌了一年多，到了2019年9月，一路跌到8.28港币。所有人的信心都几乎崩盘了，甚至还有人认为会跌到4块港币。 \n  \n\n\n\n\n\n\n\n\n\n\n    那段时间，我的情绪非常低落，特别不愿意见投资者。有位投资者，指名一定要见我。刚见面，她就毫不客气地说，“你们小米让我亏了这么多钱，真的不知道你们是怎么干的？ ”接着，从战略到产品再到管理，把我们当小学生，数落了一个多小时。我衬衣都湿了。 \n  \n\n\n\n\n    会后，我一个人在会议室呆了很久。那一刻，我非常绝望。 \n  \n\n\n\n\n    那段时间跌跌不休，我无数次问自己：\"我们是如此努力的工作，小米的收入和市场份额都在增长。为什么资本市场就是不认可小米？\"我实在有点想不通：\"如果我是投资者，我自己会不会买小米股票呢？\" \n  \n\n\n\n\n\n\n\n\n\n\n    我们面临一个重大选择：在股价跌到大家绝望的时候，我们自己敢不敢真金白银买自己的股票。这是一个灵魂拷问。我始终相信我们小米的事业。同时我也是个自信的人，我坚信，\" \n   最好的投资，就是投资自己\"，鼓起勇气说服大家进行回购。\n  \n\n\n董事会同意后，我们掏了36亿港币的真金白银，均价 9.35港币 买了大量小米股票。\n \n \n \n\n\n\n\n\n\n    今天回头看，真的抄到底了！但当时，这个决策需要巨大的勇气，万一抄到半山腰呢？ \n  \n\n\n\n\n    苦心人，天不负，小米股价开始慢慢回升。2020年7月10日，上市两周年的第二天，小米股价终于涨回了17块港币，也就是IPO发行价。 \n  \n\n\n\n\n我松了一口气，时隔两年，终于可以抬头挺胸、重新做人了！接着，小米股价一路高歌，到了2021年1月4日，收盘价 34块港币。让IPO投资者赚一倍，当初吹的牛，我们终于兑现了！ \n\"破发\"给我造成的心理阴影也终于烟消云散。\n\n\n\n\n\n\n那天，我很认真的跟同事们说，富途、老虎、同花顺，雪球、大智慧、自选股，这些股票软件，统统可以卸载掉了，我再也不用关心股价了！\n\n\n\n\n\n\n    从明天起，做一个幸福的人，喂马、劈柴、周游世界。 \n  \n\n\n\n\n02\n\n\n高端之路\n\n\n\n\n\n    我们是如何走出股价低谷的？这几年，越是在股价低迷的时刻，我们越是憋着一口气，拼命投研发。小米要想成为一家伟大的公司，要实现自己的梦想，就一定要突破高端。 \n  \n\n\n\n\n    其实，小米手机刚起步的时候，就是从高端入手的，小米手机第一代就是当时最高端的智能手机。后来我们做了面向大众用户群的红米产品，非常成功，在全球范围内，推动了智能手机的普及和移动互联网的发展。 \n  \n\n\n\n\n    谁也没有想到，这个成功极大地稀释了小米品牌。再加上我们自身实力不足，小米被很多人误解成只做中低端。 \n  \n\n\n\n\n    突破高端就迫在眉睫。 \n  \n\n\n\n\n2.1\n 小米10\n\n\n\n\n\n    小米的高端之路，从小米10正式开始。 \n  \n\n\n\n\n\n\n\n\n\n\n    为了把高端做好，我们不惜一切代价，死磕体验，细心打磨所有的细节。研发完成后，一测算，大家愣住了。4G升5G后大幅飙升的原材料成本，再加上巨额研发费用，要想做到不亏损，就必须同时满足两个条件：定价必须过 4000元，销量也必须过 200万台。 \n  \n\n\n\n\n    小米手机数字系列，定价还从来没有超过3000元过。这次定 4000元，一下子贵了1000元，米粉能接受吗？这么贵的手机，我们能卖出200万台呢？ \n  \n\n\n\n\n    我们的团队压力巨大，通宵达旦开会，商量着各种复杂的问题：如何破圈，如何影响商务人群，甚至是不是要找跑车品牌联名等等。我也懵了，懵了一段时间后，我认为只有一条路： \n   相信米粉，依靠米粉。 \n  \n\n\n\n\n\n\n\n    200万台听起来数量很大，但中国有1亿多人在用小米手机，有没有2%的用户相信我们，愿意给我们一次机会呢？我认为，只要把产品做好，一定会有。 \n   我们要做的，就是全力以赴做一款米粉真心认可的高端产品。\n\n\n\n\n\n    想明白这一点，大家的心理包袱顿时放下了。接下来的日子里，我们集中精力死磕产品，继续打磨细节。产品完工后，我们忐忑不安等待发布会，等待产品发布后用户的反馈。 \n  \n\n\n\n\n    谁也想不到，2020年初，一场突如其来的新冠疫情打乱了一切。感觉整个世界都停摆了......我们精心准备的小米10怎么办？是推迟，还是取消？我们所有人都痛苦万分。 \n  \n\n\n\n\n    到了2月初，我们终于做了一个艰难又大胆的决定：按原计划执行。2月13日，我们克服了重重困难，发布会如期举办了。这是一场纯线上直播的发布会，会场里除了工作人员，空无一人。戴好口罩，走向舞台时，我还是非常担心我的状态和直播发布会的效果。 \n  \n\n\n\n\n\n但灯光亮起的那一瞬间，仿佛千百万米粉的身影就在眼前，仿佛听到他们此起彼伏的欢呼声。\n \n \n \n\n\n\n\n\n\n    这次发布会空前成功，受到了米粉们热烈支持。第二天小米10首发， \n   1分钟突破了2亿销售额，卖疯了。这是疫情后第一场发布会，为当时全行业复产复工趟出了一条路来。 \n  \n\n\n\n\n    就这样，小米冲击高端市场的第一仗，历经重重坎坷，大获全胜！ \n  \n\n\n\n\n\n截至今天，小米10系列累计销量已达 577万台，小米10S到现在还在热销中。\n \n \n \n\n\n\n\n\n\n\n\n\n2.2\n 小米11 Ultra\n\n\n\n\n\n    小米10系列大卖，团队士气高涨，我们需要乘胜追击。 \n  \n\n\n\n\n    影像技术是手机行业的技术制高点。相机负责人朱丹认为，硬件上，我们一定要跨越式发展，能不能把相机传感器做到手机上，大比分领先对手，让小米登上全球影像的巅峰。设计负责人朱印立刻疯了：如果这样的话，手机可能会厚到用户无法忍受。 \n  \n\n\n\n\n    经过反复争论，大家终于达成了一致： \n   为手机拍照的发烧友专门做款手机，追求巅峰的相机体验，这就是 小米11 Ultra。Ultra就是极致的意思。 \n  \n\n\n\n\n\n\n\n\n\n\n    在突破高端的路上，我们选择了这样一条路： \n   我们要不顾一切追求巅峰体验，哪怕不完美！\n\n\n\n\n\n    相机部花了18个月，巨资定制了 GN2 传感器，底大到吓人，尺寸将近一英寸。手机设计出来后，拍照效果非常惊艳，可以媲美索尼黑卡，但相机的凸起和 Deco 也非常夸张。这真的是一个大胆的设计。 \n  \n\n\n\n\n    设计师们还是不放心，反复改进，后来拿出了比较优雅的方案：在相机Deco上加一个小屏幕，看起来就舒服了很多。改进后的产品原型出来后，我们内部同事们的评价不错，这让我心里踏实了一些。 \n  \n\n\n\n\n    发布会后，米粉们评价非常强烈，我觉得主要原因是，Ultra 太强了！ \n   它以绝对优势斩获了 DXOMARK 全球总分第一名，并霸榜了122天。我一直担心的设计问题，米粉们也非常喜欢，觉得有个性，有辨识度。 \n  \n\n\n\n\n\n\n\n\n\n\n    发布会后，Ultra 在全球范围内都引发了巨大的轰动。国际上很多科技博主都给予了极高的评价。 \n  \n\n\n\n\n    这次预定的情况也远超预期，大家都特别开心。没想到，我们很快又掉到坑里了。 \n  \n\n\n\n\n    Ultra 这款产品非常复杂，时间又非常紧，用户预期也非常高。我们不少细节没有达到大家期待，又被用户骂惨了。这几个月，我们组织了专门的团队在持续优化，基础体验已经有了显著的提升。待会 MIUI 负责人金凡专题给大家做汇报。 \n  \n\n\n\n\n    小米的高端之路，其实现在才刚刚开始。我们会不惜代价持续投入，我相信，小米的高端之路就一定会成功！ \n  \n\n\n\n\n\n\n\n03\n\n\n飞来横祸\n\n\n\n\n\n    最近一年，小米稳步增长，正是一派欣欣向荣的景象。 \n  \n\n\n\n\n    谁也没有想到，今年年初就遭遇飞来横祸。 \n  \n\n\n\n\n\n\n\n\n\n\n    1月15号早晨，美国国防部把我们列入了DoD清单。开盘后，小米股价应声大跌，跌幅超过了 30%。之后，依然狂跌不已，最低跌到 hk$21，小米市值跌掉了3000亿港币。 \n  \n\n\n\n\n    DoD清单，就是美国国防部认定的“中国军方拥有或控制的中国企业清单”。被列入这个名单后，美国政府禁止美国投资者投资，这对海外上市公司的股价打击非常大。对小米全球业务开展，更是一个长期的阻碍。 \n  \n\n\n\n\n    我们想破脑袋也不明白，小米怎么就成为了一家“涉军企业”？网上有很多段子，有网友说，是不是因为创始人叫雷军呢？ \n  \n\n\n\n\n    我们第一次遇到这样的事情，都有点慌。我觉得，我们应该立刻站出来澄清。管理层很快达成一致，发布公告：我们并非涉军企业，坚决反对美国国防部的无理制裁。同时联系美国国防部了解情况。麻烦的是，美国国防部说，这是军事机密，根本就不搭理你。 \n  \n\n\n\n\n\n\n\n    眼前只有两条路：要么认了，要么起诉美国政府。一家中国公司起诉美国政府，其实胜算不大。DoD清单，当时还没有任何一个起诉成功的案例。更大的担忧是，起诉会不会激怒美国政府，招致更大的打击。 \n  \n\n\n\n\n    我们请教了很多律师和国际关系的专家，众说纷纭，分歧很大。但小米是一家在香港上市的公众公司，我们的信息高度透明，我们对打官司还是有一定的信心。 \n  \n\n\n\n\n    最后我们还是做了一个艰难的选择： \n   直接起诉美国政府，用最堂堂正正的方式来捍卫我们的合法权益！\n\n\n\n\n\n\n\n\n    起诉后，美国国防部才不得不公布了原因。2019年，小米创始人雷军获得了由工信部等评选的，\"优秀中国特色社会主义事业建设者\"的称号，工信部是中国军民融合的推动部门，所以，小米“涉军”了。 \n  \n\n\n\n\n    看到这个理由，我们大家都觉得啼笑皆非。在法庭上，我们的律师问：获奖名单中多达500人，其中有七匹狼的老板、老干妈的老板，难道做服装和辣椒酱也涉军吗？ \n  \n\n\n\n\n    终于，经过几个回合的交锋。 \n   5月25日，我们赢了！\n\n\n\n\n\n\n\n\n\n\n\n    这是史无前例的胜利！在小米胜诉的鼓舞下，又有几家中国公司起诉成功！这次胜诉，对小米未来的发展影响极为深远。 \n  \n\n\n\n\n\n\n\n04\n\n\n情义无价\n\n\n\n\n\n    前面讲的选择都是关于公司的选择，接着，我讲一个关于我个人的选择。 \n  \n\n\n\n\n    这十年，大家把我和小米划了等号。其实，我还有另外一个身份，那就是金山的董事长。 \n  \n\n\n\n\n    我怎么成了金山的董事长呢？这来自一个\"不理智\"的决定。我对金山有非常深的感情。从22岁干到了38岁，我参与金山的全部创业过程，金山就是我全部的青春。 \n  \n\n\n\n\n\n\n\n\n\n\n    2011年，我们正在热火朝天创业。金山遭遇巨大危机，求伯君、张旋龙两位大哥经常来游说我，希望我能重回金山。但我已经开始创业了，这不可能呀。他们说，兼职干也可以，只要你接就行！ \n  \n\n\n\n\n    当时小米手机发布在即，正是最关键的时刻，理智告诉我：小米才刚刚起步，千头万绪，千万不要感情用事，绝对不能分心！ \n  \n\n\n\n\n    但金山咋办呢？两位大哥二十多年的情义，四五千兄弟们的前途，我也于心不忍！我非常痛苦，纠结了好几个月。我们小米的几个创始人看不下去了，劝我说，\" \n   与其这么痛苦，还不如接了。天大的事情，我们大家一起扛！\" \n  \n\n\n\n\n    他们是小米创始人，肯定希望我专注在小米业务上。但他们了解我的性格，也了解我对金山的感情，才会给我这样毫无保留的支持，当时，我非常感动。就这样，在小米联合创始人们的支持下，2011年7月7日，我正式接任了金山董事长。 \n  \n\n\n\n\n    我一接手，的确有点手忙脚乱。多亏了金山兄弟们齐心协力，金山逐步走出了困境，重新恢复了生机。 \n  \n\n\n\n\n    今年是金山创办33周年，也是我接任董事长第十年，金山已经发生了脱胎换骨的变化，收入从不足10亿，增长到合并收入120亿，增长超过 11 倍！十年过去了，我非常欣慰，在兄弟们的帮助下，没有辜负金山，所幸也没有影响小米。 \n  \n\n\n\n\n    今天看起来，当初不理智的选择，背后默默影响我的，其实就是四个字， \n   情义无价。十年来，对用户、对员工、对合作伙伴，我们始终如此。 \n  \n\n\n\n\n    范海涛老师，去年她写了一本小米的传记《一往无前》。今年她又刚写了一本金山的传记《生生不息》，今天首发，已经在全渠道上架，感兴趣的朋友可以到小米有品买一本来看看。 \n  \n\n\n\n\n\n\n\n05\n\n\n一路同行\n\n\n\n\n\n    再过几天就是8月16日，小米手机十周岁生日。感谢米粉朋友们一路同行，感谢大家一起见证了小米十年的成长。 \n  \n\n\n\n\n    从小米1到小米11，加上，从MIX1 到 MIX3，这 13款手机连在一起，就是小米手机的十年。 \n  \n\n\n\n\n    有米粉告诉我，他把这13款手机收全了，这让我非常惊讶。我相信小米内部也很少有人能收集齐所有的型号。我去翻了一下我的收藏，找齐这13款手机，拍了一张照片。 \n  \n\n\n\n\n\n\n\n\n\n\n    真诚感恩所有帮助过我们的米粉朋友们和合作伙伴们，一路上，我们一起同行，我们相信，我们都能走到梦想的彼岸。 \n  \n\n\n\n\n    这十年，实在太忙了，我几乎没有休过假。去年6月，我好不容易请了几天假去云南徒步。我当时戴着墨镜、帽子，估计没有人能认出我。 \n  \n\n\n\n\n\n\n\n\n\n\n    在香格里拉附近的一个国家森林公园里，我偶遇了一个年轻人，大家一起徒步，边走边聊。他叫姚聪，27岁，华能集团的一名风电工程师。他在山里工作，每个月工作二十天，休息十天。偶尔也会觉得山里的工作很枯燥，但觉得风电事业还是非常有意义。 \n  \n\n\n\n\n    聊着聊着，我突然发现他用的是 小米8 透明探索版。我估计他没有认出我来，就装着没看见。我们一起走了大约10公里，快结束的时候，他才突然说，雷总，能不能一起合张影？我愣了一下。 \n  \n\n\n\n\n\n\n\n\n\n\n    他说，我一开始就认出了你了，只是不想打扰你，就没说。他告诉我，他非常喜欢小米。小米每次出旗舰的时候，他都打电话找当地的代理商，叮嘱一定给他留台最好的，等他下山的时候去取。 \n  \n\n\n\n\n    他说，他可以买得起任何一个品牌的手机，他也用过其他牌子，但最后他还是坚定地选择了小米。“ \n   因为小米不一样，小米的理念不是赚更多钱，小米选择了一条更艰难但是更有意义的路。” \n  \n\n\n\n\n    他看着我，很认真的说，\"我也是一个有追求的人，所以，我更喜欢小米。” \n  \n\n\n\n\n    这段话在我心里掀起了巨大的波澜。 \n  \n\n\n\n\n    我知道，世界各地有千千万万像姚聪这样的米粉，十年来一直默默支持我们、信任我们。正因为这些信任，才让我们战胜了所有困难，走到了今天的世界500强，走到了今天的全球第二。 \n  \n\n\n\n\n    正因为这些信任，让我有勇气站在这里，大声告诉大家，我们下一个目标： \n   三年时间，拿下全球第一！\n\n\n\n\n\n    小米创业 11年来，我担心过失败，担心过自己的能力能不能跟上公司的发展，也担心过体力和精力，但每当遭遇巨大危机和挑战，我都会毫不犹豫挺身而出。我不是天才，也不是什么劳模，更不是什么战神，我只是个普通的工程师，追求梦想，做自己热爱的事情。 \n  \n\n\n\n\n    关于梦想与选择的演讲，我们就讲到这里。 \n  \n\n\n06\n\n\n\n首位小米品牌代言人\n\n\n苏炳添\n\n\n\n\n\n    今天发布的下半场开始前，先给大家报告一个最新的好消息： \n   中国最耀眼的短跑明星苏炳添正式成为小米的品牌代言人。\n\n\n\n\n\n\n\n\n\n\n\n    在看东京奥运会比赛时，苏炳添深深地打动了我。一位大学副教授，32岁的年龄，依然活跃在最激烈的男子100米赛场上，苏炳添，这次以9秒83的成绩，再次突破自我，刷新了亚洲纪录，成为第一个进入奥运会男子100米决赛的亚洲人，实现了历史性的突破。这是中国的骄傲，也是亚洲的骄傲。 \n  \n\n\n\n\n    苏炳添那种奋斗、拼搏、追求极致的精神，和小米的品牌精神完全契合。能邀请到苏炳添成为小米品牌新的代言人，我非常高兴。更高兴的是，苏炳添告诉我，他一直很喜欢小米，能够为小米代言，他感到非常骄傲。 \n  \n\n\n\n\n    接下来，我们正式开始新品发布环节。 \n  \n\n\n\n\n\n\n\n07\n\n小米MIX 4\n一款面向未来的全面屏手机\n\n    2016年10月25日，小米推出了全面屏概念手机小米MIX，拉开了智能手机全面屏时代的帷幕。 \n  \n\n\n\n\n    今天，在万千米粉的期待中，小米MIX 4 正式亮相！ \n  \n\n\n\n\n\n\n\n▍\nCUP全面屏  \n  \n\n\n\n\n\n\n\n    小米 MIX 4搭载了前沿的「CUP全面屏」屏下相机科技，将前置相机完美隐藏于屏幕下方，没有挖孔、水滴的视觉阻碍，正面尽是一块完整的屏幕。 \n  \n\n\n\n\n\n\n\n▍\nUnibody全陶瓷机身\n\n\n\n\n\n\n\n\n    小米 MIX 4延续了MIX系列在陶瓷工艺上的探索，采用了行业独一无二的Unibody全陶瓷机身，其质感温润如玉，重量减轻30%，整体机身无接缝。它还有一款全新配色影青灰，其灵感源自宋代影青瓷，质地优雅，握在手中仿佛一件艺术品。 \n  \n\n\n\n\n\n\n\n▍\nUWB一指联\n\n\n\n\n\n\n\n\n    作为首款支持UWB功能的国产手机，小米MIX 4实现了厘米级精准空间定位，让手机与AIoT智能设备的连接更为安全准确，轻松选配一指连伴侣，实现完美遥控。 \n  \n\n\n\n\n\n\n\n▍\n充电速度再提升\n\n\n\n\n\n\n\n\n    小米 MIX 4配备了120W有线秒充与50W无线秒充，让充电速度再度提升。在疾速模式下，有线秒充15分钟即可充满，无线秒充28分钟充满。 \n  \n\n\n\n\n    MIX，因梦想而生。它是工程师对科技的理想，它是设计师对美学的执着，更承载了万千米粉对未来的想象。小米MIX 4，献给最初的梦想，献给每一位米粉。 \n  \n\n\n\n\n\n\n\n08\n\n\n小米平板 5\n\n\n梦想人生，这次由自己执笔\n\n\n\n\n\n\n    三年打磨，小米平板系列正式回归！此次小米平板5系列实现了「高效办公」、「灵感创作」和「大屏娱乐」三个核心应用场景的领先体验。 \n  \n\n\n\n\n\n\n\n▍\n高效办公\n\n\n\n\n\n\n\n\n\n\n\n\n\n    小米平板5的分屏和小窗功能，可以同时使用多个软件，还可以在应用之间任意拖拽文件。另外，配备的键盘与电脑键盘布局相符，更符合打字习惯。 \n  \n\n\n\n\n    这个轻薄便携的专业生产力工具，可以轻松提升工作效率。 \n  \n\n\n\n\n\n\n\n▍\n灵感创作\n\n\n\n\n\n\n\n\n    小米平板5，可随时记录创意，搭配的小米灵感触控笔，让速写笔记、设计绘画、随手涂鸦更轻松，像在纸张上书写一样自然、精准。 \n  \n\n\n\n\n\n\n\n▍\n大屏娱乐\n\n\n\n\n\n\n\n\n\n    小米平板5，工作娱乐两不误。屏幕拥有2.5K超高分辨率和120Hz最高刷新率，支持杜比视界和杜比全景声双杜比，配合8扬声器带来的环绕立体声，精彩大片、动感音乐，都能完美呈现。 \n  \n\n\n\n\n    不仅如此，它的67W有线快充，67分钟充电100%，让你随时享受，乐趣不间断。 \n  \n\n\n\n\n\n\n\n09\n\nMIUI12.5增强版\n4大优化，体验升级\n\n\n\n\n    MIUI12.5增强版，修复了用户集中反馈的系统头部问题163个，系统应用问题250个，同时从底层框架到上层应用进行了全方位优化。 \n  \n\n\n\n\n\n\n\n\n\n\n\n\n\n▍\n液态存储\n\n\n\n\n\n\n\n\n\n    频繁的删除文件，也不怕存储空间碎片化造成手机卡顿，让手机久用如新。 \n  \n\n\n\n\n\n\n\n▍\n原子内存\n\n\n\n\n\n\n\n\n\n    就算内存不足，也不用杀后台，手机自动压缩清理无用功能，为新应用腾空间。 \n  \n\n\n\n\n\n\n\n▍\n焦点计算\n\n\n\n\n\n\n\n\n\n    将手机算力集中在最需要的地方，让手机全面流畅。 \n  \n\n\n\n\n\n\n\n▍\n智能均衡\n\n\n\n\n\n\n\n\n\n    平衡各硬件的运行，让手机更加低耗省电，对比功耗平均下降了10%。 \n  \n\n\n\n\n    第一批稳定版将于8月13日起逐步推送，共包括11款机型，我们希望我们的努力能够进一步改善大家的使用体验。 \n  \n\n\n\n\n\n\n\n10\n\nXiaomi Sound\n小巧身材，震撼音质\n\n    此次全新发布的Xiaomi Sound，拥有创新的计算音频能力、最新的联动技术，还有充满设计感的外观，好听、好看又聪明！ \n  \n\n\n\n\n\n\n\n\n\n\n▍\n震撼音质\n\n\n\n\n\n\n\n\n    HARMAN殿堂级调音和Hi-Res Audio高解析认证，带来全新的听音体验。 \n  \n\n\n\n\n\n\n\n▍\n全新外观\n\n\n\n\n\n\n\n\n\n\n\n    悬浮式触控顶盖、360度全向上出音，环形透明机身的材质，摆哪儿都好看。 \n  \n\n\n\n\n\n\n\n▍\nUWB连接\n\n\n\n\n\n\n\n\n\n\n\n    音箱手机音乐接力，一键实现小米妙播。 \n  \n\n\n\n\n\n\n\n▍\n家庭传声\n\n\n\n\n\n\n\n\n\n\n\n    小爱同学全屋对讲、智能联动，多设备串联成环绕立体声。 \n  \n\n\n\n\n    作为小米人工智能的拳头产品，小爱音箱会为越来越多的米粉提供更好更一流的智能语音控制体验。 \n  \n\n\n\n\n\n\n\n11\n\n小米电视大师77\n超高端电视“天花板”\n\n    超高端小米电视大师77 OLED及价格厚道的小米电视6 OLED，一款是超高端新作，一款是“甜品级”爆款，共同亮相。 \n  \n\n\n\n\n    小米电视大师77 OLED拥有超震撼视觉体验 ，77英寸大尺寸的OLED面板，亮度更高、色彩更惊艳。由小米音效（Mi Sound）与哈曼卡顿“金耳朵”团队联合打造的声音模组，带来了最专业与真实的声音享宴。 \n  \n\n\n\n\n    同时，这也是小米第一台支持 UWB 一指连的电视，用手机就可以轻松遥控电视，可谓超高端电视的“天花板”。 \n  \n\n\n\n\n\n\n\n    此外，我们还推出了年轻人第一台OLED电视—小米电视 6，用厚道的价格带来影院级的视听效果，轻松入手无负担。 \n  \n\n\n\n\n\n\n\n12\n\n一个有趣的小项目\nCyberDog仿生四足机器人\n\n    这是一个有趣的小项目，却是工程师的大梦想。今天，CyberDog正式亮相，小米第一代仿生四足机器人，来了！ \n  \n\n\n\n\n\n\n\n    它有一个很酷的名字——CyberDog，还有一个很萌的名字——铁蛋。它采用自研伺服电机，支持语音操控，能跑会跳，还能自主避障自动跟随。 \n  \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n    目前我们为大家提供了工程探索版，支持开源，后续会有小米开源社区。来小米社区报名，让我们一起探索未来吧～ \n  \n\n\n\n\n\n\n\n13\n\n\n1999元，3.7亿\n\n回馈小米1首批18.46万名用户\n\n\n\n\n1999，看到这个数字，我心里还是一阵感动，这是我们小米过去十年最深的记忆。 \n  \n\n\n\n\n\n\n\n\n\n\n    十年前的今天，我一直忐忑不安：一个没有任何硬件行业经验的创业者，做了款当时最高端的手机，定价 1999元，只在网上销售，并且没有任何线下体验店，能卖得动吗？不可思议的事情发生了：8月16日发布，9月13日首发，第一次预订量就高达30万台。真的太疯狂了，远超了我们的想象。 \n  \n\n\n\n\n    当时的小米，一家非常小的公司，这么多的订单完全搞不定，连滚带爬干了三个多月，到了12月17日，才完成了第一批的所有订单。 \n  \n\n\n\n\n    我们最近仔细统计了一下，耐心等了我们几个月并支付完尾款的用户，高达 18.46万人。 \n  \n\n\n\n\n1999元，18.46万台，3.7个亿，这是我们创业收到的第一笔款。有了这一笔收入，我们滚动发展，才有了今天的世界500强，才有了今天的全球第二！\n\n\n\n\n\n\n\n\n\n\n\n    怎么才能表达我们的感激之情呢？首先肯定是把小米办成一家伟大的公司，才能不辜负大家的支持。 \n  \n\n\n\n\n    在十周年这个特别的日子，我还想做一件特别的事情。我跟大家商量：能不能把小米手机首批用户的购机款全部退了？ \n  \n\n\n\n\n    啊，3.7亿，全退了？这是一笔不小的数字。 \n  \n\n\n\n\n\n\n\n    财务部同学提醒我，我们是上市公司，这会不会影响我们的财报？市场部同学提议，这3.7个亿拿来打广告，影响会不会更大？ \n  \n\n\n\n\n    我跟同事们说，当年大家的这 3.7亿，是小米成长路上的第一滴水、第一缕阳光。没有用户的支持，就不会有今天的小米。用户的心，是永远无法用金钱来衡量的！ \n  \n\n\n\n\n    我们正式决定： \n   向小米手机 1首批18.46万用户，每人赠送 1999元红包！\n\n\n\n\n\n\n现在开始，我想诚挚地邀请所有小米手机首批用户，回到小米商城，输入\"\n小米手机十周年\n\"，领取这份心意。这个红包，在8月16日当天，可以在小米商城买任何东西，没有任何门槛，没有任何套路。\n\n\n\n\n\n\n    1999元红包，代表了小米三万六千名员工感恩的心！我们会永远感恩所有帮助过我们的米粉朋友们和合作伙伴们！ \n  \n\n\n\n\n    小米的梦想就是“ \n   让全球每个人都能享受科技带来的美好生活”。这条路注定很漫长，很坎坷。但一路上，有全球几亿米粉同行，我相信，我们都一定能走到梦想的彼岸。 \n  \n\n\n\n\n    谢谢大家。","news_type":1},"isVote":1,"tweetType":1,"viewCount":275,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366600804,"gmtCreate":1614463526708,"gmtModify":1704771864326,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"good news","listText":"good news","text":"good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/366600804","repostId":"2114371822","repostType":4,"isVote":1,"tweetType":1,"viewCount":131,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3554799941327384","authorId":"3554799941327384","name":"liangwee888","avatar":"https://static.tigerbbs.com/5b494f711d74543d0aebd4ba8cd2e434","crmLevel":7,"crmLevelSwitch":1,"idStr":"3554799941327384","authorIdStr":"3554799941327384"},"content":"yes very gd news","text":"yes very gd news","html":"yes very gd news"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353987848,"gmtCreate":1616455839084,"gmtModify":1704794239466,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"because it creats no value to our world&nbsp;","listText":"because it creats no value to our world&nbsp;","text":"because it creats no value to our world","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353987848","repostId":"2121120348","repostType":4,"isVote":1,"tweetType":1,"viewCount":190,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":353984656,"gmtCreate":1616455737475,"gmtModify":1704794237849,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"buy","listText":"buy","text":"buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/353984656","repostId":"2121722120","repostType":4,"repost":{"id":"2121722120","pubTimestamp":1616427519,"share":"https://ttm.financial/m/news/2121722120?lang=&edition=fundamental","pubTime":"2021-03-22 23:38","market":"us","language":"en","title":"Apple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble","url":"https://stock-news.laohu8.com/highlight/detail?id=2121722120","media":"MarketWatch","summary":"The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.But stocks aren’t in a bubble, according to Goldman Sachs.In ourcall of the day, analysts led by Peter Oppenheimer outline nine key characteristi","content":"<p>The bull rally in stocks continues to paw at the dirt, with both the Dow and S&amp;P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.</p><p>And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned&nbsp;that Wall Street assets were trading at such high levels that they are bound to correct.</p><p>But stocks aren’t in a bubble, according to Goldman Sachs.In our<b>call of the day</b>, analysts led by Peter Oppenheimer outline nine key characteristics of historic bubbles and discuss how they don’t match the current market environment.</p><p>The investment bank defines a stock market bubble as a “rapid acceleration in prices and valuations that makes an unrealistic claim on future growth and returns.”</p><p>Goldman Sachs’ study is based on historical stock bubbles, including the “Tulip Mania” in the Netherlands in the 1630s, the 1873 “Railway Bubble” in the U.S., and the 1990s global technology bubble.</p><p><img src=\"https://static.tigerbbs.com/4ffa2f713ef154b59609e6052850d34b\" tg-width=\"620\" tg-height=\"488\" referrerpolicy=\"no-referrer\"></p><p>One of the key hallmarks of bubbles is excessive price appreciation and extreme valuations. And while the investment bank acknowledges “pockets of exuberance,” and some excessive price rises in U.S. equities, the analysts argue that it doesn’t necessarily mean that a broader and “systemically dangerous” bubble is forming. The recent rise in the S&amp;P 500 index, and particularly in the technology sector, is impressive but not extreme, the analysts say.</p><p>Similarly, another bubble telltale is the idea that “this time is different,” with a narrative that justifies new ways of valuing companies. But, the Goldman Sachs analysts argue, this time isn’t different, and the main argument supporting higher prices right now is mainstream: Interest rates are low.</p><p><img src=\"https://static.tigerbbs.com/b1518c976cd1ec82e47b88facfa75002\" tg-width=\"620\" tg-height=\"475\" referrerpolicy=\"no-referrer\"></p><p>Past bubbles have often included excitement around a particular sector leading to market concentration. And it is true that the group of FAAMG stocks — Facebook,Apple,Amazon,Microsoft,and Google, owned by Alphabet— representing Big Tech has come to dominate indexes and investor attention.</p><p>But the analysts argue that not only is this representative of a transformative period in technology, but the fundamentals back these companies up. The groups are highly cash-generative, and metrics like earnings per share in Big Tech and other retail investor favorites “have significantly outstripped those of the rest of the market.”</p><p>The investment bank also finds that while the current market has some characteristics of bubbles, like frantic speculation, easy credit and rising leverage, booming corporate activity, and “new era” narrative driving a tech boom, these factors were mitigated by forces including regulation and stability in the wider market. We’re also not late in an economic cycle and widespread accounting scandals haven’t come to light — these are other critical markers of bubbles.</p><p>Goldman Sachs’ findings are summarized in the table below:</p><p><img src=\"https://static.tigerbbs.com/b6c059e67f6c05885c8f108b15cc5595\" tg-width=\"620\" tg-height=\"158\" referrerpolicy=\"no-referrer\"></p><p>The analysts conclude: “While there are pockets of excessive valuations in equities, and parts of the market are justifiably derating as interest rates adjust, in our assessment only a few of these common characteristics are currently present or being partially met.”</p><p>According to Goldman Sachs, the risks of an imminent bubble “with systemic risks to the financial system and economies” is relatively low.</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>Apple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble</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\">\nApple and Amazon prices make sense and more signs from Goldman Sachs that stocks aren’t in a bubble\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-22 23:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble ...</p>\n\n<a href=\"https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?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":{"09086":"华夏纳指-U",".SPX":"S&P 500 Index","MSFT":"微软","03086":"华夏纳指","GOOGL":"谷歌A","GOOG":"谷歌","QNETCN":"纳斯达克中美互联网老虎指数",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","GS":"高盛"},"source_url":"https://www.marketwatch.com/story/apple-and-amazon-prices-make-sense-and-more-signs-from-goldman-sachs-that-stocks-arent-in-a-bubble-11616412469?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/599a65733b8245fcf7868668ef9ad712","article_id":"2121722120","content_text":"The bull rally in stocks continues to paw at the dirt, with both the Dow and S&P 500 indexes charging to new highs last week and momentum set to continue into the week ahead.And worries of a bubble are blowing. Earlier this month,China’s top banking regulator warned that Wall Street assets were trading at such high levels that they are bound to correct.But stocks aren’t in a bubble, according to Goldman Sachs.In ourcall of the day, analysts led by Peter Oppenheimer outline nine key characteristics of historic bubbles and discuss how they don’t match the current market environment.The investment bank defines a stock market bubble as a “rapid acceleration in prices and valuations that makes an unrealistic claim on future growth and returns.”Goldman Sachs’ study is based on historical stock bubbles, including the “Tulip Mania” in the Netherlands in the 1630s, the 1873 “Railway Bubble” in the U.S., and the 1990s global technology bubble.One of the key hallmarks of bubbles is excessive price appreciation and extreme valuations. And while the investment bank acknowledges “pockets of exuberance,” and some excessive price rises in U.S. equities, the analysts argue that it doesn’t necessarily mean that a broader and “systemically dangerous” bubble is forming. The recent rise in the S&P 500 index, and particularly in the technology sector, is impressive but not extreme, the analysts say.Similarly, another bubble telltale is the idea that “this time is different,” with a narrative that justifies new ways of valuing companies. But, the Goldman Sachs analysts argue, this time isn’t different, and the main argument supporting higher prices right now is mainstream: Interest rates are low.Past bubbles have often included excitement around a particular sector leading to market concentration. And it is true that the group of FAAMG stocks — Facebook,Apple,Amazon,Microsoft,and Google, owned by Alphabet— representing Big Tech has come to dominate indexes and investor attention.But the analysts argue that not only is this representative of a transformative period in technology, but the fundamentals back these companies up. The groups are highly cash-generative, and metrics like earnings per share in Big Tech and other retail investor favorites “have significantly outstripped those of the rest of the market.”The investment bank also finds that while the current market has some characteristics of bubbles, like frantic speculation, easy credit and rising leverage, booming corporate activity, and “new era” narrative driving a tech boom, these factors were mitigated by forces including regulation and stability in the wider market. We’re also not late in an economic cycle and widespread accounting scandals haven’t come to light — these are other critical markers of bubbles.Goldman Sachs’ findings are summarized in the table below:The analysts conclude: “While there are pockets of excessive valuations in equities, and parts of the market are justifiably derating as interest rates adjust, in our assessment only a few of these common characteristics are currently present or being partially met.”According to Goldman Sachs, the risks of an imminent bubble “with systemic risks to the financial system and economies” is relatively low.","news_type":1},"isVote":1,"tweetType":1,"viewCount":327,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366600555,"gmtCreate":1614463676677,"gmtModify":1704771864971,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"like mlm. the winner is always the game disigner","listText":"like mlm. the winner is always the game disigner","text":"like mlm. the winner is always the game disigner","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366600555","repostId":"1146313632","repostType":4,"repost":{"id":"1146313632","pubTimestamp":1614334339,"share":"https://ttm.financial/m/news/1146313632?lang=&edition=fundamental","pubTime":"2021-02-26 18:12","market":"us","language":"en","title":"Gamestop And High Volatility Options","url":"https://stock-news.laohu8.com/highlight/detail?id=1146313632","media":"Options AI: Learn","summary":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from ","content":"<p><b>Gamestop Corp.</b>&nbsp;shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.</p><hr><p><b>Gamestop: The Expected Move</b></p><p>First, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):</p><p><img src=\"https://static.tigerbbs.com/e35872724d8db887fa09d822d622ac8c\" tg-width=\"568\" tg-height=\"817\" referrerpolicy=\"no-referrer\"></p><p>Gamestop: Call Spreads vs Outright Calls</p><p>Using March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.</p><p>Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.</p><p>With Gamestop near $105, the&nbsp;<b>March 19th 110/190 Debit Call Spread</b>&nbsp;is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.</p><p>As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:</p><p><img src=\"https://static.tigerbbs.com/b044a22bfbe5a8326f9aa3ebf56ed4fd\" tg-width=\"570\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p>And next, the 145/200 debit call spread:</p><p><img src=\"https://static.tigerbbs.com/6cdf8545f07da48f770ef81cb4e5ac53\" tg-width=\"569\" tg-height=\"792\" referrerpolicy=\"no-referrer\"></p><p>As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)</p><p>A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).</p><p>Directional Butterflies vs Outright Puts</p><p>High volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.</p><p>One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).</p><p>So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.</p><p>Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:</p><p><img src=\"https://static.tigerbbs.com/f7cb8f9b0570e854f662f3031e50ca91\" tg-width=\"573\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p><p>This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.</p>","source":"lsy1614334070724","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 And High Volatility Options</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 And High Volatility Options\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 18:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://learn.optionsai.com/gamestop-and-high-volatility-options/><strong>Options AI: Learn</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique ...</p>\n\n<a href=\"https://learn.optionsai.com/gamestop-and-high-volatility-options/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://learn.optionsai.com/gamestop-and-high-volatility-options/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146313632","content_text":"Gamestop Corp. shares have soared the past few days with the stock up nearly 200% at one point from last week (but still down significantly from recent short squeeze highs). We'll look at the unique situations that arise in the options of a highly volatile stock like Gamestop and a few things that might be considered before trading options.Gamestop: The Expected MoveFirst, a look at how options are pricing upcoming moves. Here's theOptions AIexpected move chart for Gamestop, with a nearly 30% move being priced into this Friday's close. And a roughly 80% move being priced for the next month. A month that includes an earnings event (unconfirmed):Gamestop: Call Spreads vs Outright CallsUsing March 19th as an expiry we first looks at bullish spreads, and compare directly to outright calls. With a stock as volatile as Gamestop, calls can be expensive. Because of that, many traders resort to buying far out of the money calls. That demand for upside calls increases volatility in those calls, making them expensive relative to at-the-money calls – a phenomenon known as skew. However, for those that are bullish, this may create an opportunity to utilize spreads rather than buying an outright call. Let's see how.Here we'll focus on one alternative – using debit spreads to lower the overall cost of a directional trade (while potentially improving the probability of profit of the trade itself by lowering the breakeven level). It does so by selling those relatively expensive out-the-money Calls to help finance the purchase of a nearer to at-the-money Call.With Gamestop near $105, the March 19th 110/190 Debit Call Spread is roughly $15 and targets the bullish expected move for March 19th. The debit call spread would need the stock to be above $125 on March 19th to be profitable.As a comparison, the GME March 19th 200 calls are trading $29. That's nearly twice the cost for a 200 call that needs the stock above $229 by March 19th… versus a call spread, that needs the stock above $125. Here's a side by side comparison of those two trades on the Options AI chart. First, the 200 call:And next, the 145/200 debit call spread:As you can see, not only is the call spread less expensive, the point at which is becomes profitable to the upside is much closer to where the stock is currently trading. (As indicated by the grey price of the breakeven.)A note on probability of profit. The probability of profit displayed on these trades is based on the delta being assigned to the breakeven of the trade. The fact that a 200 call in a $105 stock is trading near 50 deltas shows just how distorting an effect Gamestop volatility is having on its options (hard to borrow, skew, retail demand for out-of-the-money calls).Directional Butterflies vs Outright PutsHigh volatility also affects bearish options trades. One of the counter-intuitive aspects of a high volatility stock like Gamestop is that its implied volatility can go up as the stock goes higher and down as the stock goes lower. This is the opposite of how we generally think about volatility. Therefore, buying outright puts carries a risk of collapsing volatility (and therefore collapsing premiums) as the stock goes lower. So, even though the stock is moving in the intended direction, as an option holder you may not be realizing the gains expected.One way to counter high implied volatility in a stock, especially when having a bearish view, is to be a net seller of option premium. To sell to bullish option traders rather than join bearish option traders. Traditionally that might take the form of selling a Credit Call Spread. But in GME's case that means buying the (expensive) upper strike Call at a higher volatility than the Call that is closer to the money (as described above).So, one option strategy that can be considered by traders is using a Butterfly. An option trade that is more typically associated with a neutral trading view, but here adapted to actually create a targeted (bearish) directional view.Here, as an example, is a Butterfly with its center strikes focused at $80 in the stock, with a March 19th expiry:This 130/80/30 butterfly has breakevens of 115 and 45, meaning the trade is profitable if the stock is between those two prices at March 19th expiry… with a max gain occurring if the stock is at or near $80. It has the additional dynamic of being short premium, and if the stock stays within its range would see mark to market gains if implied volatility compressed.","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366411033,"gmtCreate":1614549790922,"gmtModify":1704772298350,"author":{"id":"3569263461157925","authorId":"3569263461157925","name":"YourCFP","avatar":"https://static.tigerbbs.com/a1f5e965075ba7b03f9c5aade30f04ed","crmLevel":4,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3569263461157925","authorIdStr":"3569263461157925"},"themes":[],"htmlText":"market will tell harm or not, not officer","listText":"market will tell harm or not, not officer","text":"market will tell harm or not, not officer","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/366411033","repostId":"1181374212","repostType":4,"repost":{"id":"1181374212","pubTimestamp":1614335737,"share":"https://ttm.financial/m/news/1181374212?lang=&edition=fundamental","pubTime":"2021-02-26 18:35","market":"hk","language":"en","title":"Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary","url":"https://stock-news.laohu8.com/highlight/detail?id=1181374212","media":"cnbc","summary":"Hong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.Chan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.Chan said in his budget speech on Wednesday","content":"<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.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>Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary</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\">\nTrading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-02-26 18:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said...</p>\n\n<a href=\"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00388":"香港交易所","HSCEI":"国企指数","HSCCI":"红筹指数","HSI":"恒生指数"},"source_url":"https://www.cnbc.com/2021/02/26/trading-tax-hike-wont-harm-hong-kongs-stock-market-financial-secretary.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1181374212","content_text":"KEY POINTS\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.\nThe move “will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” said Chan.\n\nHong Kong’s plan to increase the stamp duty on stock trading will not harm the competitiveness of the city’s financial markets, Financial Secretary Paul Chan told CNBC on Friday.\nChan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.The announcement sparked a sell-off in shares of the operator of the city’s stock exchange, and the broader Hong Kong market.\n“The Hong Kong market has been doing very well, very active, the volume has gone up quite a bit,” Chan told CNBC’s Emily Tan.\n“So, perhaps this is the time for us to increase a little bit on the stamp duty which will not harm our competitiveness and at the same time will bring additional revenue to the government at this juncture,” he added.\nThe financial secretary said Hong Kong authorities have in recent years launched different initiatives to enhance the competitiveness of the city’s stock market. That includes allowing listings of dual-class shares and attracting U.S.-listed Chinese companies to seek a secondary listing in Hong Kong, he said.\nHong Kong in 2020 was one of the top markets for listings globally as Chinese firms such as e-commerce giant JD.com and gaming company NetEase raised funds through secondary listings.\nIn total, the city’s stock exchange saw 132 initial public offerings worth $32.1 billion, and 199 further offerings worth $62.9 billion last year, according to data compiled by consultancy PwC.\nWith such “robust” capital markets activity, raising the trading stamp duty may offer Hong Kong “a quick solution” to increase its tax revenue in the short term, said Stanley Ho, a partner for corporate tax advisory at consultancy KPMG China.\n“However, it is also important for Hong Kong’s capital markets to stay competitive with global financial markets, many of which are trending towards reducing or removing such duties,” Ho said in a statement after Chan’s budget speech.\nChan said he remains confident of Hong Kong’s prospects as an international financial center.\nHe explained that the government is working on promoting Hong Kong as a center for sustainable and green finance, developing further the city’s fixed income markets and encouraging more activity in the asset and wealth management sectors.\nOn the stock market sell-off after his announcement of the trading tax hike, Chan said Hong Kong wasn’t the only one experiencing a “downward adjustment” following a previous run-up.\n“So, I would not be bothered by temporary fluctuations in the market. What we believe is we continue to work hard to enhance the offering of our market to further enhance the competitiveness and attractiveness of the Hong Kong market,” he said.\n“We will continue to attract inflow of international capital.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}