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jw321

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2021-09-23

wow

EngageSmart opens for trading at $37, up about 43.6% from IPO price

2021-09-22

buy the dip

a.k.a. Brands opens for trading at $9.5, down 13.64% from IPO price

2021-09-20

siao liao

U.S. stock market falls sharply lower early Monday

2021-09-18

yay

US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week

2021-09-17

go go moon!

Hot chinese concept stocks rallied in premarket trading

2021-09-16

lol

AMC shares fell 1.3% in premarket trading

2021-09-08

yo

SOFTS-Robusta sets new four-year high, cocoa hits nine-month peak

2021-09-07

not goof

SEC Cracks Down On "Dubious" ESG Labels Tied To $35 Trillion In Assets

2021-09-06

lame

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2021-09-06

first to comment

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2021-09-05

comment

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2021-09-04

i comment myself

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2021-09-02

lol

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2021-09-01

siao

Why I’m Still Rage-Buying Meme Stocks

2021-08-31

no more booster easy $?

Moderna shares rose more than 2% in early trading

2021-08-30

nice

Hong Kong: Shares start flat

2021-08-28

ok

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2021-08-27

wow

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2021-08-27

okay

Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners

2021-08-25

not good

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Go to Tiger App to see more news

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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632411695,"share":"https://ttm.financial/m/news/1159478468?lang=&edition=fundamental","pubTime":"2021-09-23 23:41","market":"us","language":"en","title":"EngageSmart opens for trading at $37, up about 43.6% from IPO price","url":"https://stock-news.laohu8.com/highlight/detail?id=1159478468","media":"Tiger Newspress","summary":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintr","content":"<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company</b></p>\n<p>Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p>\n<p>Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p>\n<p>The company's primary offerings include:</p>\n<ul>\n <li>SimplePractice - Wellness</li>\n <li>InvoiceCloud - Government, Utilities and Financial Services</li>\n <li>HealthPay24 - Healthcare</li>\n <li>DonorDrive - Non-profit and Corporate Fundraising</li>\n</ul>\n<p>EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p>\n<p>As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>32.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>33.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>43.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>1.1</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>1.3</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p>\n<p>ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Rule of 40</b></p></td>\n   <td><p><b>Calculation</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Recent Rev. Growth %</p></td>\n   <td><p>59%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>5%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>64%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p>\n<p>This represents a forecast CAGR of 12.65% from 2021 to 2026.</p>\n<p>The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p>\n<p>Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p>\n<p>Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p>\n<p><img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p>\n<ul>\n <li><p>IBM(NYSE:IBM)</p></li>\n <li><p>Microsoft(NASDAQ:MSFT)</p></li>\n <li><p>Nuance(NASDAQ:NUAN)</p></li>\n <li><p>Oracle(NYSE:ORCL)</p></li>\n <li><p>Salesforce(NYSE:CRM)</p></li>\n <li><p>Avaya(NYSE:AVYA)</p></li>\n <li><p>Calabrio</p></li>\n <li><p>Aspect Software</p></li>\n <li><p>Genesys</p></li>\n <li><p>Verint Systems(NASDAQ:VRNT)</p></li>\n <li><p>NICE Ltd.(NASDAQ:NICE)</p></li>\n <li><p>OpenText</p></li>\n <li><p>Pegasystems(NASDAQ:PEGA)</p></li>\n <li><p>Others</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>EngageSmart's recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Growing topline revenue</p></li>\n <li><p>Increasing gross profit and high gross margin</p></li>\n <li><p>Growing operating profit and net income</p></li>\n <li><p>Increasing cash flow from operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm's registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 99,171,000</p></td>\n   <td><p>58.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 146,557,000</p></td>\n   <td><p>77.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 82,432,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 73,673,000</p></td>\n   <td><p>61.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 108,964,000</p></td>\n   <td><p>89.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 57,591,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>74.29%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>74.35%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>69.86%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 5,001,000</p></td>\n   <td><p>5.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 648,000</p></td>\n   <td><p>0.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (50,398,000)</p></td>\n   <td><p>-61.1%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 274,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (6,678,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (53,598,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 12,044,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 19,645,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (1,427,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p>\n<p>New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p>\n<p>Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p>\n<blockquote>\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n</blockquote>\n<blockquote>\n Source: SEC\n</blockquote>\n<p>Management's presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p>\n<p>Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$3,862,956,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$3,656,695,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>21.09</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>19.96</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>377.37</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>9.04%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$24.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$25,236,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>0.65%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>58.59%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Metric</b></p></td>\n   <td><p><b>Nice Ltd.</b></p></td>\n   <td><p><b>EngageSmart</b></p></td>\n   <td><p><b>Variance</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>11.01</p></td>\n   <td><p>21.09</p></td>\n   <td><p>91.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>10.67</p></td>\n   <td><p>19.96</p></td>\n   <td><p>87.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>41.73</p></td>\n   <td><p>377.37</p></td>\n   <td><p>804.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$3.05</p></td>\n   <td><p>$0.00</p></td>\n   <td><p>-100.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>5.3%</p></td>\n   <td><p>58.59%</p></td>\n   <td><p>1003.34%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>(S-1/A andSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p>\n<p>The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p>\n<p>The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p>\n<p>As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p>\n<p>Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p>\n<p>Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EngageSmart opens for trading at $37, up about 43.6% from IPO price</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\">\nEngageSmart opens for trading at $37, up about 43.6% from IPO price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-23 23:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company</b></p>\n<p>Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p>\n<p>Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p>\n<p>The company's primary offerings include:</p>\n<ul>\n <li>SimplePractice - Wellness</li>\n <li>InvoiceCloud - Government, Utilities and Financial Services</li>\n <li>HealthPay24 - Healthcare</li>\n <li>DonorDrive - Non-profit and Corporate Fundraising</li>\n</ul>\n<p>EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p>\n<p>As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>32.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>33.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>43.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>1.1</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>1.3</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p>\n<p>ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Rule of 40</b></p></td>\n   <td><p><b>Calculation</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Recent Rev. Growth %</p></td>\n   <td><p>59%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>5%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>64%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p>\n<p>This represents a forecast CAGR of 12.65% from 2021 to 2026.</p>\n<p>The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p>\n<p>Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p>\n<p>Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p>\n<p><img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p>\n<ul>\n <li><p>IBM(NYSE:IBM)</p></li>\n <li><p>Microsoft(NASDAQ:MSFT)</p></li>\n <li><p>Nuance(NASDAQ:NUAN)</p></li>\n <li><p>Oracle(NYSE:ORCL)</p></li>\n <li><p>Salesforce(NYSE:CRM)</p></li>\n <li><p>Avaya(NYSE:AVYA)</p></li>\n <li><p>Calabrio</p></li>\n <li><p>Aspect Software</p></li>\n <li><p>Genesys</p></li>\n <li><p>Verint Systems(NASDAQ:VRNT)</p></li>\n <li><p>NICE Ltd.(NASDAQ:NICE)</p></li>\n <li><p>OpenText</p></li>\n <li><p>Pegasystems(NASDAQ:PEGA)</p></li>\n <li><p>Others</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>EngageSmart's recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Growing topline revenue</p></li>\n <li><p>Increasing gross profit and high gross margin</p></li>\n <li><p>Growing operating profit and net income</p></li>\n <li><p>Increasing cash flow from operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm's registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 99,171,000</p></td>\n   <td><p>58.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 146,557,000</p></td>\n   <td><p>77.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 82,432,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 73,673,000</p></td>\n   <td><p>61.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 108,964,000</p></td>\n   <td><p>89.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 57,591,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>74.29%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>74.35%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>69.86%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 5,001,000</p></td>\n   <td><p>5.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 648,000</p></td>\n   <td><p>0.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (50,398,000)</p></td>\n   <td><p>-61.1%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 274,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (6,678,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (53,598,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 12,044,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 19,645,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (1,427,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p>\n<p>New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p>\n<p>Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p>\n<blockquote>\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n</blockquote>\n<blockquote>\n Source: SEC\n</blockquote>\n<p>Management's presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p>\n<p>Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$3,862,956,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$3,656,695,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>21.09</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>19.96</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>377.37</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>9.04%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$24.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$25,236,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>0.65%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>58.59%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Metric</b></p></td>\n   <td><p><b>Nice Ltd.</b></p></td>\n   <td><p><b>EngageSmart</b></p></td>\n   <td><p><b>Variance</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>11.01</p></td>\n   <td><p>21.09</p></td>\n   <td><p>91.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>10.67</p></td>\n   <td><p>19.96</p></td>\n   <td><p>87.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>41.73</p></td>\n   <td><p>377.37</p></td>\n   <td><p>804.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$3.05</p></td>\n   <td><p>$0.00</p></td>\n   <td><p>-100.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>5.3%</p></td>\n   <td><p>58.59%</p></td>\n   <td><p>1003.34%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>(S-1/A andSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p>\n<p>The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p>\n<p>The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p>\n<p>As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p>\n<p>Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p>\n<p>Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ESMT":"EngageSmart Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159478468","content_text":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.\nManagement is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.\nThe company's primary offerings include:\n\nSimplePractice - Wellness\nInvoiceCloud - Government, Utilities and Financial Services\nHealthPay24 - Healthcare\nDonorDrive - Non-profit and Corporate Fundraising\n\nEngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.\nCustomer Acquisition\nThe firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.\nAs of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:\n\n\n\n\nSelling and Marketing\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n32.4%\n\n\n2020\n33.1%\n\n\n2019\n43.1%\n\n\n\nSource: SEC\nThe Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling and Marketing\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.1\n\n\n2020\n1.3\n\n\n\nSource: SEC\nThe Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.\nESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n59%\n\n\nEBITDA %\n5%\n\n\nTotal\n64%\n\n\n\nSource: SEC\nThe firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.\nMarket & Competition\nAccording to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.\nThis represents a forecast CAGR of 12.65% from 2021 to 2026.\nThe main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.\nAlso, a desire to reduce customer churn rate results in improved business financials and growing valuation.\nBelow is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:\nMajor competitive or other industry participants include:\n\nIBM(NYSE:IBM)\nMicrosoft(NASDAQ:MSFT)\nNuance(NASDAQ:NUAN)\nOracle(NYSE:ORCL)\nSalesforce(NYSE:CRM)\nAvaya(NYSE:AVYA)\nCalabrio\nAspect Software\nGenesys\nVerint Systems(NASDAQ:VRNT)\nNICE Ltd.(NASDAQ:NICE)\nOpenText\nPegasystems(NASDAQ:PEGA)\nOthers\n\nFinancial Performance\nEngageSmart's recent financial results can be summarized as follows:\n\nGrowing topline revenue\nIncreasing gross profit and high gross margin\nGrowing operating profit and net income\nIncreasing cash flow from operations\n\nBelow are relevant financial results derived from the firm's registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 99,171,000\n58.6%\n\n\n2020\n$ 146,557,000\n77.8%\n\n\n2019\n$ 82,432,000\n\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 73,673,000\n61.4%\n\n\n2020\n$ 108,964,000\n89.2%\n\n\n2019\n$ 57,591,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n74.29%\n\n\n2020\n74.35%\n\n\n2019\n69.86%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 5,001,000\n5.0%\n\n\n2020\n$ 648,000\n0.4%\n\n\n2019\n$ (50,398,000)\n-61.1%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 274,000\n\n\n2020\n$ (6,678,000)\n\n\n2019\n$ (53,598,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 12,044,000\n\n\n2020\n$ 19,645,000\n\n\n2019\n$ (1,427,000)\n\n\n\n(Glossary Of Terms)\n\n\n\nSource: SEC\nAs of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $25.2 million.\nIPO Details\nESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.\nNew potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.\nPer the firm's most recent regulatory filing, it plans to use the net proceeds as follows:\n\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n\n\n Source: SEC\n\nManagement's presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.\nListed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.\nValuation Metrics\nBelow is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$3,862,956,720\n\n\nEnterprise Value\n$3,656,695,720\n\n\nPrice / Sales\n21.09\n\n\nEV / Revenue\n19.96\n\n\nEV / EBITDA\n377.37\n\n\nEarnings Per Share\n$0.00\n\n\nFloat To Outstanding Shares Ratio\n9.04%\n\n\nProposed IPO Midpoint Price per Share\n$24.00\n\n\nNet Free Cash Flow\n$25,236,000\n\n\nFree Cash Flow Yield Per Share\n0.65%\n\n\nRevenue Growth Rate\n58.59%\n\n\n\n\nSource: SEC\nAs a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nNice Ltd.\nEngageSmart\nVariance\n\n\nPrice / Sales\n11.01\n21.09\n91.5%\n\n\nEV / Revenue\n10.67\n19.96\n87.1%\n\n\nEV / EBITDA\n41.73\n377.37\n804.3%\n\n\nEarnings Per Share\n$3.05\n$0.00\n-100.0%\n\n\nRevenue Growth Rate\n5.3%\n58.59%\n1003.34%\n\n\n\n\n(S-1/A andSeeking Alpha)\nCommentary\nESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.\nThe firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.\nFree cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.\nThe company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.\nAs for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.\nAlso, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.\nGiven the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.","news_type":1,"symbols_score_info":{"ESMT":0.9}},"isVote":1,"tweetType":1,"viewCount":2171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869759027,"gmtCreate":1632323629569,"gmtModify":1676530753732,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"buy the dip","listText":"buy the dip","text":"buy the dip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/869759027","repostId":"1154932699","repostType":4,"repost":{"id":"1154932699","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632321484,"share":"https://ttm.financial/m/news/1154932699?lang=&edition=fundamental","pubTime":"2021-09-22 22:38","market":"us","language":"en","title":"a.k.a. Brands opens for trading at $9.5, down 13.64% from IPO price","url":"https://stock-news.laohu8.com/highlight/detail?id=1154932699","media":"Tiger Newspress","summary":"(Sept 22) a.k.a. Brands Holding Corp. opens for trading at $9.5, down 13.64% from IPO price.\n\nCompan","content":"<p>(Sept 22)&nbsp;<b><a href=\"https://laohu8.com/S/AKA\">a.k.a. Brands Holding Corp.</a> </b>opens for trading at $9.5, down 13.64% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/2655ceafc9d04ddedb23eed6e4de700b\" tg-width=\"968\" tg-height=\"556\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company &amp; Technology</b></p>\n<p>San Francisco, California-based a.k.a. Brands was founded to develop a portfolio of digitally-focused, DTC consumer apparel and fashion brands with a global reach.</p>\n<p>Management is headed by Chief Executive Officer Jill Ramsey, who has been with the firm since May 2020 and was previously Chief Product and Digital Revenue Officer at Macy's.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>Princess Polly</li>\n <li>Culture Kings</li>\n <li>Petal &amp; Pup</li>\n <li>Rebdolls</li>\n</ul>\n<p>Below is the a.k.a. platform as it currently stands:</p>\n<p><img src=\"https://static.tigerbbs.com/f7ce425ad6f03482b7316d1970a64a8e\" tg-width=\"1280\" tg-height=\"1058\" referrerpolicy=\"no-referrer\">a.k.a. Brands has received at least $330 million in equity investment from investors including New Excelerate, Beard Entities and Bryett Enterprises Trust.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The company focuses its marketing efforts on Millennials and Gen Z consumers who 'seek fashion inspiration on social media and primarily shop online and via mobile devices.'</p>\n<p>So, a.k.a. leverages its data to provide relevant social content and make other digital marketing strategy efforts to reach consumers directly online.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenues have increased, as the figures below indicate:</p>\n<p><img src=\"https://static.tigerbbs.com/09de0dff45009ec1618d62f05ee32627\" tg-width=\"614\" tg-height=\"307\" referrerpolicy=\"no-referrer\">The Selling efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling spend, was stable in the most recent reporting period, as shown in the table below:</p>\n<p><img src=\"https://static.tigerbbs.com/3ce88e3f54fea202f724c03c0a3157be\" tg-width=\"610\" tg-height=\"242\" referrerpolicy=\"no-referrer\">For a.k.a.’s largest property, Princess Polly, user engagement measured by average number of pages per visit on that website has remained relatively flat over the last two years, with a recent slight increase to a current blended average desktop/mobile of 7.28 pages per visit, as the chart shows below:</p>\n<p><img src=\"https://static.tigerbbs.com/8faa1fea511d6ca9aedc0d4323baa69b\" tg-width=\"1010\" tg-height=\"497\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source:Similarweb)</p>\n<p>According to a marketresearch reportby BlueCart, the global market for DTC (direct-to-consumer) sales is expected to reach $20 billion globally in 2021.</p>\n<p>This represents a forecast potential increase of 15% over results in 2020.</p>\n<p>The main drivers for this expected growth are an increase in consumer openness to hearing directly from manufacturers via online channels.</p>\n<p>Also, there is a growing desire by businesses to gain an edge through greater data-driven insights stemming from direct relationships with their customers rather than working through 3rd party distributors and retail outlets.</p>\n<p>Major competitive or other industry participants by type include:</p>\n<ul>\n <li>Ecommerce companies</li>\n <li>In-person stores</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>a.k.a. Brands’ recent financial results can be summarized as follows (includes 55% stake in Culture Kings Group):</p>\n<ul>\n <li>Sharply growing topline revenue</li>\n <li>Growing gross profit</li>\n <li>Increasing gross margin</li>\n <li>Uneven operating profit and margin</li>\n <li>Variable cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p><img src=\"https://static.tigerbbs.com/3a4b8f665d53cacb759e02e61c0e0fac\" tg-width=\"610\" tg-height=\"616\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/7f24f3b6311e665efae356978c984a91\" tg-width=\"611\" tg-height=\"618\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/eeba7aa58d9c2188ca35f7d3ddbfd57a\" tg-width=\"610\" tg-height=\"620\" referrerpolicy=\"no-referrer\">As of June 30, 2021, a.k.a. Brands had $34.3 million in cash and $277.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p><b>IPO Details</b></p>\n<p>AKA intends to sell 13.9 million shares of common stock at a proposed midpoint price of $18.00 per share for gross proceeds of approximately $250 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO (ex- underwriter options) would approximate $2.3 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 10.72%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Per the firm’s most recent regulatory filing, it plans to use the net proceeds as follows (in conjunction with a planned new senior secured credit facility):</p>\n<p><img src=\"https://static.tigerbbs.com/0b37cb842c1d92125dec5e45108e3378\" tg-width=\"1280\" tg-height=\"289\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source)</p>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management believes that any legal claims against it would not be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are BofA Securities, Credit Suisse, Jefferies and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm’s relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<p><img src=\"https://static.tigerbbs.com/83589d7d85d1719f3237ee2bc10b5d23\" tg-width=\"612\" tg-height=\"708\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Commentary</b></p>\n<p>AKA is going public to pay down debt and for its future expansion plans.</p>\n<p>AKS’ financials show sharply growing topline revenue and gross profit, increasing gross margin but uneven operating profit and margin and variable cash flow from operations</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenue has increased and its Selling efficiency rate was stable at an impressive 2.3x.</p>\n<p>The market opportunity for selling fashionable clothing direct to consumer [DTC] aimed at younger demographics is large and expected to grow substantially in the years ahead.</p>\n<p>Being a mobile-first DTC firm, AKA is well-positioned to adjust to a market that is focused on using online, mobile-phone app purchase modalities.</p>\n<p>BofA Securities is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 11.5% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the high rate of change in consumer tastes and preferences, which can make it challenging and costly to react to changes in a compressed time period.</p>\n<p>As for valuation, compared toa basketof publicly held Apparel companies complied by noted valuation expert Dr. Aswath Damodaran which as of January 2021 had an average EV/Sales multiple of 2.03x, AKA is seeking an EV/Revenue multiple of 5.03x.</p>\n<p>AKA is growing topline revenue sharply, in part due to its acquisition activities but its operating margin was 4.6% in the most recent six-month period versus the public basket of an average of 5.93%.</p>\n<p>So AKA is growing quickly through acquisition but has a lower operating margin than its public peers.</p>\n<p>However, I favor DTC companies for things like apparel, as the firm can adjust its offering much faster and more accurately as a result of its direct relationship with customers.</p>\n<p>Also, AKA’s mobile-first approach combined with DTC business model also positions the firm well for its target demographic of younger consumers.</p>\n<p>Although the IPO isn’t cheap, I believe AKA has significant room to grow and continue executing its business model approach, so the IPO is worth consideration.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>a.k.a. Brands opens for trading at $9.5, down 13.64% from IPO price</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\">\na.k.a. Brands opens for trading at $9.5, down 13.64% from IPO price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-22 22:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 22)&nbsp;<b><a href=\"https://laohu8.com/S/AKA\">a.k.a. Brands Holding Corp.</a> </b>opens for trading at $9.5, down 13.64% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/2655ceafc9d04ddedb23eed6e4de700b\" tg-width=\"968\" tg-height=\"556\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company &amp; Technology</b></p>\n<p>San Francisco, California-based a.k.a. Brands was founded to develop a portfolio of digitally-focused, DTC consumer apparel and fashion brands with a global reach.</p>\n<p>Management is headed by Chief Executive Officer Jill Ramsey, who has been with the firm since May 2020 and was previously Chief Product and Digital Revenue Officer at Macy's.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>Princess Polly</li>\n <li>Culture Kings</li>\n <li>Petal &amp; Pup</li>\n <li>Rebdolls</li>\n</ul>\n<p>Below is the a.k.a. platform as it currently stands:</p>\n<p><img src=\"https://static.tigerbbs.com/f7ce425ad6f03482b7316d1970a64a8e\" tg-width=\"1280\" tg-height=\"1058\" referrerpolicy=\"no-referrer\">a.k.a. Brands has received at least $330 million in equity investment from investors including New Excelerate, Beard Entities and Bryett Enterprises Trust.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The company focuses its marketing efforts on Millennials and Gen Z consumers who 'seek fashion inspiration on social media and primarily shop online and via mobile devices.'</p>\n<p>So, a.k.a. leverages its data to provide relevant social content and make other digital marketing strategy efforts to reach consumers directly online.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenues have increased, as the figures below indicate:</p>\n<p><img src=\"https://static.tigerbbs.com/09de0dff45009ec1618d62f05ee32627\" tg-width=\"614\" tg-height=\"307\" referrerpolicy=\"no-referrer\">The Selling efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling spend, was stable in the most recent reporting period, as shown in the table below:</p>\n<p><img src=\"https://static.tigerbbs.com/3ce88e3f54fea202f724c03c0a3157be\" tg-width=\"610\" tg-height=\"242\" referrerpolicy=\"no-referrer\">For a.k.a.’s largest property, Princess Polly, user engagement measured by average number of pages per visit on that website has remained relatively flat over the last two years, with a recent slight increase to a current blended average desktop/mobile of 7.28 pages per visit, as the chart shows below:</p>\n<p><img src=\"https://static.tigerbbs.com/8faa1fea511d6ca9aedc0d4323baa69b\" tg-width=\"1010\" tg-height=\"497\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source:Similarweb)</p>\n<p>According to a marketresearch reportby BlueCart, the global market for DTC (direct-to-consumer) sales is expected to reach $20 billion globally in 2021.</p>\n<p>This represents a forecast potential increase of 15% over results in 2020.</p>\n<p>The main drivers for this expected growth are an increase in consumer openness to hearing directly from manufacturers via online channels.</p>\n<p>Also, there is a growing desire by businesses to gain an edge through greater data-driven insights stemming from direct relationships with their customers rather than working through 3rd party distributors and retail outlets.</p>\n<p>Major competitive or other industry participants by type include:</p>\n<ul>\n <li>Ecommerce companies</li>\n <li>In-person stores</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>a.k.a. Brands’ recent financial results can be summarized as follows (includes 55% stake in Culture Kings Group):</p>\n<ul>\n <li>Sharply growing topline revenue</li>\n <li>Growing gross profit</li>\n <li>Increasing gross margin</li>\n <li>Uneven operating profit and margin</li>\n <li>Variable cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p><img src=\"https://static.tigerbbs.com/3a4b8f665d53cacb759e02e61c0e0fac\" tg-width=\"610\" tg-height=\"616\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/7f24f3b6311e665efae356978c984a91\" tg-width=\"611\" tg-height=\"618\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/eeba7aa58d9c2188ca35f7d3ddbfd57a\" tg-width=\"610\" tg-height=\"620\" referrerpolicy=\"no-referrer\">As of June 30, 2021, a.k.a. Brands had $34.3 million in cash and $277.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p><b>IPO Details</b></p>\n<p>AKA intends to sell 13.9 million shares of common stock at a proposed midpoint price of $18.00 per share for gross proceeds of approximately $250 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO (ex- underwriter options) would approximate $2.3 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 10.72%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Per the firm’s most recent regulatory filing, it plans to use the net proceeds as follows (in conjunction with a planned new senior secured credit facility):</p>\n<p><img src=\"https://static.tigerbbs.com/0b37cb842c1d92125dec5e45108e3378\" tg-width=\"1280\" tg-height=\"289\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source)</p>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management believes that any legal claims against it would not be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are BofA Securities, Credit Suisse, Jefferies and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm’s relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<p><img src=\"https://static.tigerbbs.com/83589d7d85d1719f3237ee2bc10b5d23\" tg-width=\"612\" tg-height=\"708\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Commentary</b></p>\n<p>AKA is going public to pay down debt and for its future expansion plans.</p>\n<p>AKS’ financials show sharply growing topline revenue and gross profit, increasing gross margin but uneven operating profit and margin and variable cash flow from operations</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenue has increased and its Selling efficiency rate was stable at an impressive 2.3x.</p>\n<p>The market opportunity for selling fashionable clothing direct to consumer [DTC] aimed at younger demographics is large and expected to grow substantially in the years ahead.</p>\n<p>Being a mobile-first DTC firm, AKA is well-positioned to adjust to a market that is focused on using online, mobile-phone app purchase modalities.</p>\n<p>BofA Securities is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 11.5% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the high rate of change in consumer tastes and preferences, which can make it challenging and costly to react to changes in a compressed time period.</p>\n<p>As for valuation, compared toa basketof publicly held Apparel companies complied by noted valuation expert Dr. Aswath Damodaran which as of January 2021 had an average EV/Sales multiple of 2.03x, AKA is seeking an EV/Revenue multiple of 5.03x.</p>\n<p>AKA is growing topline revenue sharply, in part due to its acquisition activities but its operating margin was 4.6% in the most recent six-month period versus the public basket of an average of 5.93%.</p>\n<p>So AKA is growing quickly through acquisition but has a lower operating margin than its public peers.</p>\n<p>However, I favor DTC companies for things like apparel, as the firm can adjust its offering much faster and more accurately as a result of its direct relationship with customers.</p>\n<p>Also, AKA’s mobile-first approach combined with DTC business model also positions the firm well for its target demographic of younger consumers.</p>\n<p>Although the IPO isn’t cheap, I believe AKA has significant room to grow and continue executing its business model approach, so the IPO is worth consideration.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AKA":"a.k.a. Brands Holding Corp."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154932699","content_text":"(Sept 22) a.k.a. Brands Holding Corp. opens for trading at $9.5, down 13.64% from IPO price.\n\nCompany & Technology\nSan Francisco, California-based a.k.a. Brands was founded to develop a portfolio of digitally-focused, DTC consumer apparel and fashion brands with a global reach.\nManagement is headed by Chief Executive Officer Jill Ramsey, who has been with the firm since May 2020 and was previously Chief Product and Digital Revenue Officer at Macy's.\nThe company’s primary offerings include:\n\nPrincess Polly\nCulture Kings\nPetal & Pup\nRebdolls\n\nBelow is the a.k.a. platform as it currently stands:\na.k.a. Brands has received at least $330 million in equity investment from investors including New Excelerate, Beard Entities and Bryett Enterprises Trust.\nCustomer Acquisition\nThe company focuses its marketing efforts on Millennials and Gen Z consumers who 'seek fashion inspiration on social media and primarily shop online and via mobile devices.'\nSo, a.k.a. leverages its data to provide relevant social content and make other digital marketing strategy efforts to reach consumers directly online.\nSelling expenses as a percentage of total revenue have risen as revenues have increased, as the figures below indicate:\nThe Selling efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling spend, was stable in the most recent reporting period, as shown in the table below:\nFor a.k.a.’s largest property, Princess Polly, user engagement measured by average number of pages per visit on that website has remained relatively flat over the last two years, with a recent slight increase to a current blended average desktop/mobile of 7.28 pages per visit, as the chart shows below:\n\n(Source:Similarweb)\nAccording to a marketresearch reportby BlueCart, the global market for DTC (direct-to-consumer) sales is expected to reach $20 billion globally in 2021.\nThis represents a forecast potential increase of 15% over results in 2020.\nThe main drivers for this expected growth are an increase in consumer openness to hearing directly from manufacturers via online channels.\nAlso, there is a growing desire by businesses to gain an edge through greater data-driven insights stemming from direct relationships with their customers rather than working through 3rd party distributors and retail outlets.\nMajor competitive or other industry participants by type include:\n\nEcommerce companies\nIn-person stores\n\nFinancial Performance\na.k.a. Brands’ recent financial results can be summarized as follows (includes 55% stake in Culture Kings Group):\n\nSharply growing topline revenue\nGrowing gross profit\nIncreasing gross margin\nUneven operating profit and margin\nVariable cash flow from operations\n\nBelow are relevant financial results derived from the firm’s registration statement:\nAs of June 30, 2021, a.k.a. Brands had $34.3 million in cash and $277.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $28.7 million.\nIPO Details\nAKA intends to sell 13.9 million shares of common stock at a proposed midpoint price of $18.00 per share for gross proceeds of approximately $250 million, not including the sale of customary underwriter options.\nNo existing shareholders have indicated an interest to purchase shares at the IPO price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO (ex- underwriter options) would approximate $2.3 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 10.72%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.\nPer the firm’s most recent regulatory filing, it plans to use the net proceeds as follows (in conjunction with a planned new senior secured credit facility):\n\n(Source)\nManagement’s presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management believes that any legal claims against it would not be material to its operations or financial condition.\nListed bookrunners of the IPO are BofA Securities, Credit Suisse, Jefferies and other investment banks.\nValuation Metrics\nBelow is a table of the firm’s relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\nCommentary\nAKA is going public to pay down debt and for its future expansion plans.\nAKS’ financials show sharply growing topline revenue and gross profit, increasing gross margin but uneven operating profit and margin and variable cash flow from operations\nFree cash flow for the twelve months ended June 30, 2021, was $28.7 million.\nSelling expenses as a percentage of total revenue have risen as revenue has increased and its Selling efficiency rate was stable at an impressive 2.3x.\nThe market opportunity for selling fashionable clothing direct to consumer [DTC] aimed at younger demographics is large and expected to grow substantially in the years ahead.\nBeing a mobile-first DTC firm, AKA is well-positioned to adjust to a market that is focused on using online, mobile-phone app purchase modalities.\nBofA Securities is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 11.5% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company’s outlook is the high rate of change in consumer tastes and preferences, which can make it challenging and costly to react to changes in a compressed time period.\nAs for valuation, compared toa basketof publicly held Apparel companies complied by noted valuation expert Dr. Aswath Damodaran which as of January 2021 had an average EV/Sales multiple of 2.03x, AKA is seeking an EV/Revenue multiple of 5.03x.\nAKA is growing topline revenue sharply, in part due to its acquisition activities but its operating margin was 4.6% in the most recent six-month period versus the public basket of an average of 5.93%.\nSo AKA is growing quickly through acquisition but has a lower operating margin than its public peers.\nHowever, I favor DTC companies for things like apparel, as the firm can adjust its offering much faster and more accurately as a result of its direct relationship with customers.\nAlso, AKA’s mobile-first approach combined with DTC business model also positions the firm well for its target demographic of younger consumers.\nAlthough the IPO isn’t cheap, I believe AKA has significant room to grow and continue executing its business model approach, so the IPO is worth consideration.","news_type":1,"symbols_score_info":{"AKA":0.9}},"isVote":1,"tweetType":1,"viewCount":2382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860183472,"gmtCreate":1632145861596,"gmtModify":1676530710286,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"siao liao","listText":"siao liao","text":"siao liao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/860183472","repostId":"1139071808","repostType":4,"repost":{"id":"1139071808","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632144660,"share":"https://ttm.financial/m/news/1139071808?lang=&edition=fundamental","pubTime":"2021-09-20 21:31","market":"us","language":"en","title":"U.S. stock market falls sharply lower early Monday","url":"https://stock-news.laohu8.com/highlight/detail?id=1139071808","media":"Tiger Newspress","summary":"(Sept 20) U.S. stocks began the week deeply in the red as investors continued to move to the sidelin","content":"<p>(Sept 20)&nbsp;U.S. stocks began the week deeply in the red as investors continued to move to the sidelines in September amid several emerging risks for the market.</p>\n<p>The Dow Jones Industrial average lost 580 points. The S&amp;P 500 fell 1.7%. Nasdaq 100 futures dropped 1.7%. If the declines hold after the open, the blue-chip Dow is set for its biggest one day drop since July 19, while the S&amp;P 500 is poised for their worst sell-off since May.</p>\n<p>VIX surged 20%. Airline stocks rally.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stock market falls sharply lower early Monday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stock market falls sharply lower early Monday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-20 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 20)&nbsp;U.S. stocks began the week deeply in the red as investors continued to move to the sidelines in September amid several emerging risks for the market.</p>\n<p>The Dow Jones Industrial average lost 580 points. The S&amp;P 500 fell 1.7%. Nasdaq 100 futures dropped 1.7%. If the declines hold after the open, the blue-chip Dow is set for its biggest one day drop since July 19, while the S&amp;P 500 is poised for their worst sell-off since May.</p>\n<p>VIX surged 20%. Airline stocks rally.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139071808","content_text":"(Sept 20) U.S. stocks began the week deeply in the red as investors continued to move to the sidelines in September amid several emerging risks for the market.\nThe Dow Jones Industrial average lost 580 points. The S&P 500 fell 1.7%. Nasdaq 100 futures dropped 1.7%. If the declines hold after the open, the blue-chip Dow is set for its biggest one day drop since July 19, while the S&P 500 is poised for their worst sell-off since May.\nVIX surged 20%. Airline stocks rally.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":887398846,"gmtCreate":1631970903085,"gmtModify":1676530680246,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"yay","listText":"yay","text":"yay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/887398846","repostId":"1171558890","repostType":4,"repost":{"id":"1171558890","kind":"news","pubTimestamp":1631921912,"share":"https://ttm.financial/m/news/1171558890?lang=&edition=fundamental","pubTime":"2021-09-18 07:38","market":"us","language":"en","title":"US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week","url":"https://stock-news.laohu8.com/highlight/detail?id=1171558890","media":"renaissancecap...","summary":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billio","content":"<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.</p>\n<p>The largest deal of the week,<b>Freshworks</b>(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&amp;M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.</p>\n<p>Canadian consumer products company&nbsp;<b>Knowlton Development</b>(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.</p>\n<p>Restaurant payment processor&nbsp;<b>Toast</b>(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.</p>\n<p>Global money transfer firm&nbsp;<b>Remitly Global</b>(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.</p>\n<p>Software firm&nbsp;<b>Clearwater Analytics</b>(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.</p>\n<p>Food company&nbsp;<b>Sovos Brands</b>(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.</p>\n<p>Customer engagement software provider&nbsp;<b>EngageSmart</b>(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.</p>\n<p>Hiring solutions provider&nbsp;<b>Sterling Check</b>(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.</p>\n<p>Jewelry retailer&nbsp;<b>Brilliant Earth Group</b>(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.</p>\n<p>Online fashion platform&nbsp;<b>a.k.a. Brands</b>(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&amp;A strategy carries execution risk.</p>\n<p>COVID-19 test maker&nbsp;<b>Cue Health</b>(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.</p>\n<p>London-listed crypto mining company&nbsp;<b>Argo Blockchain</b>(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.</p>\n<p>Personalized supplements seller&nbsp;<b>Thorne Healthtech</b>(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.</p>\n<p>Canadian bank&nbsp;<b>VersaBank</b>(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.</p>","source":"lsy1619493174116","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>US IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUS IPO Week Ahead: Software, consumer products, and payment tech lead a diverse 14 IPO week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-18 07:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers><strong>renaissancecap...</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and...</p>\n\n<a href=\"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ESMT":"EngageSmart Inc.","RELY":"Remitly Global, Inc.","ARBK":"Argo Blockchain Plc","FRSH":"Freshworks","CWAN":"Clearwater Analytics Holdings, Inc.","STER":"Sterling Check Corp.","THRN":"Thorne Healthtech","TOST":"Toast, Inc.","SOVO":"Sovos Brands, Inc.","BRLT":"Brilliant Earth Group, Inc.","AKA":"a.k.a. Brands Holding Corp.","HLTH":"Cue Health Inc."},"source_url":"https://www.renaissancecapital.com/IPO-Center/News/86272/US-IPO-Week-Ahead-Software-consumer-products-and-payment-tech-lead-a-divers","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171558890","content_text":"Summer may be over, but the IPO market is just heating up as 14 IPOs are slated to raise $5.3 billion in the week ahead. The diverse group includes software, consumer products, payment technology, and more.\nThe largest deal of the week,Freshworks(FRSH) plans to raise $855 million at a $9.6 billion market cap. The company’s core product is its customer support software, and it also offers IT service management software and a nascent competitor to CRM solutions. While losses are expected to increase with S&M spending, Freshworks has delivered solid growth and 100%+ net dollar-based revenue retention as of 6/30/21.\nCanadian consumer products company Knowlton Development(KDC) plans to raise $800 million at a $3.1 billion market cap. Over the past three years, Knowlton has been responsible for co-developing 9,000+ products across a variety of categories, and its products are sold by its brand partners in 70+ countries. Despite using offering proceeds to pay down debt, Knowlton will be leveraged post-IPO.\nRestaurant payment processor Toast(TOST) plans to raise $685 million at a $17.9 billion market cap. Toast provides a suite of integrated payment and software solutions that are designed to streamline restaurant operations. The company grew ARR over 100% in the 1H21, though it has historically been unprofitable, and growth could slow as tailwinds from restaurants reopening abate.\nGlobal money transfer firm Remitly Global(RELY) plans to raise $487 million at a $7.5 billion market cap. Remitly provides digital financial services for immigrants and their families in over 135 countries, and it has expanded its core cross-border remittance product to over 1,700 corridors worldwide. The company has demonstrated growth and margin improvement, though it remains unprofitable.\nSoftware firm Clearwater Analytics(CWAN) plans to raise $450 million at a $3.7 billion market cap. Clearwater provides its 1,000+ clients with cloud-native software that allows them to simplify their investment accounting operations, and the company has a 100% recurring revenue model. A new investor and certain existing shareholders intend to purchase $150 million worth of shares in the IPO.\nFood company Sovos Brands(SOVO) plans to raise $350 million at a $1.5 billion market cap. Formed by Advent International, Sovos Brands offers a select group of acquired premium food brands. According to the company, its largest brand of products, Rao's, included the #1 selling SKU in the pasta and pizza sauce category. Profitable with solid growth, Sovos will be leveraged post-IPO.\nCustomer engagement software provider EngageSmart(ESMT) plans to raise $349 million at a $4.1 billion market cap. The company provides software that simplifies online workflows like paperless billing, electronic payment processing, scheduling, and client communication. While growth may slow post-pandemic, EngageSmart has a sticky customer based and a long track record of profitability.\nHiring solutions provider Sterling Check(STER) plans to raise $300 million at a $2.1 billion market cap. Sterling is one of the leading US providers of background checks for corporate and government customers. The company serves more than 50% of the Fortune 100, often with exclusive contracts, though it operates in a highly competitive market.\nJewelry retailer Brilliant Earth Group(BRLT) plans to raise $250 million at a $1.4 billion. Brilliant Earth is a digital-first jewelry company and a global leader in ethically sourced fine jewelry. The company has sold to consumers in all US states and over 50 countries, and has served over 370,000 customers through its e-commerce platform and 13 showrooms.\nOnline fashion platform a.k.a. Brands(AKA) plans to raise $250 million at a $2.3 billion market cap. a.k.a. acquires digitally-focused fashion brands oriented toward millennial and Gen Z consumers, starting with its acquisition of Princess Polly in 2018. The company has successfully expanded Princess Polly and has a long runway to grow its brands in the US, but its M&A strategy carries execution risk.\nCOVID-19 test maker Cue Health(HLTH) plans to raise $200 million at a $2.4 billion market cap. Cue’s first commercially available diagnostic test for use with its Cue Health Monitoring System is its COVID-19 Test Kit, which has been authorized by two EUAs. Cue has five additional Test Kits in late-stage technical development, for which it expects to begin seeking FDA authorization or clearance in the 2H22.\nLondon-listed crypto mining company Argo Blockchain(ARBK) plans to raise $138 million at an $855 million market cap. Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. Argo has a fleet of more than 21,000 purpose-built computers (mining machines) and can generate more than 1,075 petahash per second.\nPersonalized supplements seller Thorne Healthtech(THRN) plans to raise $126 million at an $892 million market cap. The company’s vertically integrated brands, Thorne and Onegevity, provide actionable insights and personalized data, products, and services. Profitable with strong growth, Thorne has a base of more than 3 million customers.\nCanadian bank VersaBank(VBNK) plans to raise $50 million at a $269 million market cap. VersaBank is a Canadian Schedule I chartered bank and states that it is one of the world's first fully digital financial institutions. As of July 31, 2021, VersaBank had $1.8 billion in assets, $1.6 billion in loans, $1.5 billion in deposits, and $202 million in stockholders' equity.","news_type":1,"symbols_score_info":{"CWAN":0.9,"HLTH":0.9,"ESMT":0.9,"AKA":0.9,"KDC":0.9,"BRLT":0.9,"THRN":0.9,"SOVO":0.9,"FRSH":0.9,"STER":0.9,"RELY":0.9,"TOST":0.9,"ARBK":0.9}},"isVote":1,"tweetType":1,"viewCount":1832,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":884180109,"gmtCreate":1631867138201,"gmtModify":1676530656620,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"go go moon!","listText":"go go moon!","text":"go go moon!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/884180109","repostId":"1186832781","repostType":4,"repost":{"id":"1186832781","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631866468,"share":"https://ttm.financial/m/news/1186832781?lang=&edition=fundamental","pubTime":"2021-09-17 16:14","market":"us","language":"en","title":"Hot chinese concept stocks rallied in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1186832781","media":"Tiger Newspress","summary":"Hot chinese concept stocks rallied in premarket trading.Alibaba,Pinduoduo,JD.COM,Baidu,Bilibili,Didi","content":"<p>Hot chinese concept stocks rallied in premarket trading.Alibaba,Pinduoduo,JD.COM,Baidu,Bilibili,Didi Global&nbsp;and&nbsp;KE Holdings&nbsp;climbed between 1% and 4%.</p>\n<p><img src=\"https://static.tigerbbs.com/db64bdd0f1217c315ee5850da3162954\" tg-width=\"407\" tg-height=\"722\" width=\"100%\" height=\"auto\"></p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hot chinese concept stocks rallied in premarket trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHot chinese concept stocks rallied in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-17 16:14</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Hot chinese concept stocks rallied in premarket trading.Alibaba,Pinduoduo,JD.COM,Baidu,Bilibili,Didi Global&nbsp;and&nbsp;KE Holdings&nbsp;climbed between 1% and 4%.</p>\n<p><img src=\"https://static.tigerbbs.com/db64bdd0f1217c315ee5850da3162954\" tg-width=\"407\" tg-height=\"722\" width=\"100%\" height=\"auto\"></p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186832781","content_text":"Hot chinese concept stocks rallied in premarket trading.Alibaba,Pinduoduo,JD.COM,Baidu,Bilibili,Didi Global and KE Holdings climbed between 1% and 4%.","news_type":1,"symbols_score_info":{"BABA":0.9}},"isVote":1,"tweetType":1,"viewCount":2172,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":885846436,"gmtCreate":1631779890325,"gmtModify":1676530633761,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"lol","listText":"lol","text":"lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/885846436","repostId":"1132300400","repostType":4,"repost":{"id":"1132300400","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1631779418,"share":"https://ttm.financial/m/news/1132300400?lang=&edition=fundamental","pubTime":"2021-09-16 16:03","market":"us","language":"en","title":"AMC shares fell 1.3% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1132300400","media":"Tiger Newspress","summary":"AMC shares fell 1.3% in premarket trading after AMC CEO saying theaters will accept other cryptocurr","content":"<p>AMC shares fell 1.3% in premarket trading&nbsp;after&nbsp;AMC CEO saying theaters will accept other cryptocurrencies along with Bitcoin.</p>\n<p><img src=\"https://static.tigerbbs.com/c32d017c0fe73dd7700df2ef2331ef2c\" tg-width=\"848\" tg-height=\"669\" width=\"100%\" height=\"auto\"></p>\n<p>AMC Entertainment CEO Adam Aron said on Wednesday AMC Theatres will accept Bitcoin for online ticket and concession payments, and similarly accept other cryptocurrencies like Ethereum, Litecoin and Bitcoin Cash.</p>\n<p>\"Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash,\" Aron tweeted</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AMC shares fell 1.3% in premarket trading</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\">\nAMC shares fell 1.3% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-16 16:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>AMC shares fell 1.3% in premarket trading&nbsp;after&nbsp;AMC CEO saying theaters will accept other cryptocurrencies along with Bitcoin.</p>\n<p><img src=\"https://static.tigerbbs.com/c32d017c0fe73dd7700df2ef2331ef2c\" tg-width=\"848\" tg-height=\"669\" width=\"100%\" height=\"auto\"></p>\n<p>AMC Entertainment CEO Adam Aron said on Wednesday AMC Theatres will accept Bitcoin for online ticket and concession payments, and similarly accept other cryptocurrencies like Ethereum, Litecoin and Bitcoin Cash.</p>\n<p>\"Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash,\" Aron tweeted</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1132300400","content_text":"AMC shares fell 1.3% in premarket trading after AMC CEO saying theaters will accept other cryptocurrencies along with Bitcoin.\n\nAMC Entertainment CEO Adam Aron said on Wednesday AMC Theatres will accept Bitcoin for online ticket and concession payments, and similarly accept other cryptocurrencies like Ethereum, Litecoin and Bitcoin Cash.\n\"Cryptocurrency enthusiasts: you likely know @AMCTheatres has announced we will accept Bitcoin for online ticket and concession payments by year-end 2021. I can confirm today that when we do so, we also expect that we similarly will accept Ethereum, Litecoin and Bitcoin Cash,\" Aron tweeted","news_type":1,"symbols_score_info":{"AMC":0.9}},"isVote":1,"tweetType":1,"viewCount":1800,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":889138603,"gmtCreate":1631113469802,"gmtModify":1676530472695,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"yo","listText":"yo","text":"yo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/889138603","repostId":"2165399212","repostType":4,"repost":{"id":"2165399212","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1631112401,"share":"https://ttm.financial/m/news/2165399212?lang=&edition=fundamental","pubTime":"2021-09-08 22:46","market":"fut","language":"en","title":"SOFTS-Robusta sets new four-year high, cocoa hits nine-month peak","url":"https://stock-news.laohu8.com/highlight/detail?id=2165399212","media":"Reuters","summary":"LONDON, Sept 8 (Reuters) - Robusta coffee futures on ICE rose to a new four-year high on Wednesday o","content":"<p>LONDON, Sept 8 (Reuters) - Robusta coffee futures on ICE rose to a new four-year high on Wednesday on signs of tightening supplies, while cocoa futures hit a nine-month peak.</p>\n<p><b>COFFEE</b></p>\n<ul>\n <li>November robusta coffee was up 0.1% at $2,104 a tonne at 1427 GMT, after setting a four-year high of $2,130.</li>\n <li>Dealers cited as supportive factors falling ICE exchange stocks, increased demand from roasters for robusta instead of its pricier arabica counterpart, as well as continued shipping backlogs, including out of top robusta producer Vietnam.</li>\n <li>\"For the time being, there is no foreseeable alleviation to the international squeeze on global supply chains,\" said trader I&amp;M Smith.</li>\n <li>Strict measures to stop the spread of COVID-19 in Vietnam are prompting further supply jitters.</li>\n <li>The International Coffee Organisation said in its July monthly report global production of the bean will likely fall some way below demand in the upcoming season that starts in October, but bumped up its coffee surplus forecast for the current season.</li>\n <li>December arabica coffee rose 0.2% to $1.9430 per lb.</li>\n</ul>\n<p><b>COCOA</b></p>\n<ul>\n <li>December New York cocoa was flat at $2,704 a tonne, having hit a nine-month high of $2,717.</li>\n <li>December London cocoa rose 0.4% to 1,842 pounds per tonne, after hitting 1,844 pounds, also a nine-month peak.</li>\n</ul>\n<p>Cocoa is gaining from the prospect of improved demand in the upcoming 2021/22 season (October/September), coupled with an expected drop in supply that should leave the market more or less balanced.</p>\n<p>Dealers cited a lack of hedging pressure in the market, with top producer Ivory Coast having pre-sold much of its cocoa for the 2021/22 season.</p>\n<p><b>SUGAR</b></p>\n<ul>\n <li>October raw sugar rose 0.6% to 19.60 cents per lb, having hit a two-week low on Tuesday at 19.44.</li>\n <li>Sugar has been trading range bound of late, with lower production from top producer Brazil already priced in.</li>\n <li>October white sugar rose 0.2% to $483.70 a tonne.</li>\n</ul>\n<p>(Reporting by Maytaal Angel Editing by Mark Potter and David Evans)</p>\n<p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SOFTS-Robusta sets new four-year high, cocoa hits nine-month peak</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\">\nSOFTS-Robusta sets new four-year high, cocoa hits nine-month peak\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-09-08 22:46</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, Sept 8 (Reuters) - Robusta coffee futures on ICE rose to a new four-year high on Wednesday on signs of tightening supplies, while cocoa futures hit a nine-month peak.</p>\n<p><b>COFFEE</b></p>\n<ul>\n <li>November robusta coffee was up 0.1% at $2,104 a tonne at 1427 GMT, after setting a four-year high of $2,130.</li>\n <li>Dealers cited as supportive factors falling ICE exchange stocks, increased demand from roasters for robusta instead of its pricier arabica counterpart, as well as continued shipping backlogs, including out of top robusta producer Vietnam.</li>\n <li>\"For the time being, there is no foreseeable alleviation to the international squeeze on global supply chains,\" said trader I&amp;M Smith.</li>\n <li>Strict measures to stop the spread of COVID-19 in Vietnam are prompting further supply jitters.</li>\n <li>The International Coffee Organisation said in its July monthly report global production of the bean will likely fall some way below demand in the upcoming season that starts in October, but bumped up its coffee surplus forecast for the current season.</li>\n <li>December arabica coffee rose 0.2% to $1.9430 per lb.</li>\n</ul>\n<p><b>COCOA</b></p>\n<ul>\n <li>December New York cocoa was flat at $2,704 a tonne, having hit a nine-month high of $2,717.</li>\n <li>December London cocoa rose 0.4% to 1,842 pounds per tonne, after hitting 1,844 pounds, also a nine-month peak.</li>\n</ul>\n<p>Cocoa is gaining from the prospect of improved demand in the upcoming 2021/22 season (October/September), coupled with an expected drop in supply that should leave the market more or less balanced.</p>\n<p>Dealers cited a lack of hedging pressure in the market, with top producer Ivory Coast having pre-sold much of its cocoa for the 2021/22 season.</p>\n<p><b>SUGAR</b></p>\n<ul>\n <li>October raw sugar rose 0.6% to 19.60 cents per lb, having hit a two-week low on Tuesday at 19.44.</li>\n <li>Sugar has been trading range bound of late, with lower production from top producer Brazil already priced in.</li>\n <li>October white sugar rose 0.2% to $483.70 a tonne.</li>\n</ul>\n<p>(Reporting by Maytaal Angel Editing by Mark Potter and David Evans)</p>\n<p></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2165399212","content_text":"LONDON, Sept 8 (Reuters) - Robusta coffee futures on ICE rose to a new four-year high on Wednesday on signs of tightening supplies, while cocoa futures hit a nine-month peak.\nCOFFEE\n\nNovember robusta coffee was up 0.1% at $2,104 a tonne at 1427 GMT, after setting a four-year high of $2,130.\nDealers cited as supportive factors falling ICE exchange stocks, increased demand from roasters for robusta instead of its pricier arabica counterpart, as well as continued shipping backlogs, including out of top robusta producer Vietnam.\n\"For the time being, there is no foreseeable alleviation to the international squeeze on global supply chains,\" said trader I&M Smith.\nStrict measures to stop the spread of COVID-19 in Vietnam are prompting further supply jitters.\nThe International Coffee Organisation said in its July monthly report global production of the bean will likely fall some way below demand in the upcoming season that starts in October, but bumped up its coffee surplus forecast for the current season.\nDecember arabica coffee rose 0.2% to $1.9430 per lb.\n\nCOCOA\n\nDecember New York cocoa was flat at $2,704 a tonne, having hit a nine-month high of $2,717.\nDecember London cocoa rose 0.4% to 1,842 pounds per tonne, after hitting 1,844 pounds, also a nine-month peak.\n\nCocoa is gaining from the prospect of improved demand in the upcoming 2021/22 season (October/September), coupled with an expected drop in supply that should leave the market more or less balanced.\nDealers cited a lack of hedging pressure in the market, with top producer Ivory Coast having pre-sold much of its cocoa for the 2021/22 season.\nSUGAR\n\nOctober raw sugar rose 0.6% to 19.60 cents per lb, having hit a two-week low on Tuesday at 19.44.\nSugar has been trading range bound of late, with lower production from top producer Brazil already priced in.\nOctober white sugar rose 0.2% to $483.70 a tonne.\n\n(Reporting by Maytaal Angel Editing by Mark Potter and David Evans)","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":2212,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":880964227,"gmtCreate":1631011235669,"gmtModify":1676530441614,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"not goof","listText":"not goof","text":"not goof","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880964227","repostId":"1106783631","repostType":4,"repost":{"id":"1106783631","kind":"news","pubTimestamp":1631008393,"share":"https://ttm.financial/m/news/1106783631?lang=&edition=fundamental","pubTime":"2021-09-07 17:53","market":"us","language":"en","title":"SEC Cracks Down On \"Dubious\" ESG Labels Tied To $35 Trillion In Assets","url":"https://stock-news.laohu8.com/highlight/detail?id=1106783631","media":"zerohedge","summary":"If it wasn't already abundantly clear that ESG investing has become one of the hottest investing cra","content":"<p>If it wasn't already abundantly clear that ESG investing has become one of the hottest investing crazes of the new decade, Cathie Wood's announcement earlier this week that she had applied to the SEC for permission to launch an ESG-focused ETF - the fund will exclude alcohol, banking, chemicals, confectionary, tobacco, oil and gambling stocks, among others - should stand as a rather obvious confirmation.</p>\n<p>But as the pace of growth in terms of assets dedicated to \"ESG\" funds started to accelerate, we started to notice that the assets being stuffed into these ESG funds didn't really look all that different from a typical equity fund. Just take a look at a list of the most popular holdings from last year.</p>\n<p><img src=\"https://static.tigerbbs.com/69385b0b114f494e953d69b4558993e6\" tg-width=\"1136\" tg-height=\"831\" referrerpolicy=\"no-referrer\">Now, take a look at the top holdings for ESGG, one of the top ESG-focused ETFs</p>\n<p>Top Carbon-Credit-Seller Launches Internal Probe After Selling \"Worthless\" Offsets To JPMorgan, Disney</p>\n<p><img src=\"https://static.tigerbbs.com/2fe51e23a52b3c25f2b02cc5e36ba76c\" tg-width=\"1280\" tg-height=\"1157\" referrerpolicy=\"no-referrer\">Stocked with blue-chips, these funds don't exactly scream environmentally friendly and socially responsible. One industry insider confirmed as much when he shared a new term:\"green washing\".<b>Since then, we have run at least a half dozen reports about abuses in the ESG space:</b></p>\n<ul>\n <li>The Fraud That Is ESG Strikes Again: Six Of Top 10 ESG Funds Underperform The S&amp;P500</li>\n <li>Behold The \"Green\" Scam: Here Are The Most Popular ESG Fund Holdings</li>\n <li>Nation's Largest ESG Fund Has No Direct Renewable Holdings</li>\n <li>Top Carbon-Credit-Seller Launches Internal Probe After Selling \"Worthless\" Offsets To JPMorgan, Disney</li>\n <li>The ESG Threat</li>\n <li>ESG Investing – The Great Wall Street Money Heist</li>\n <li>The Gigantic Holes In Anti-Oil ESG Activism</li>\n <li>More ESG Fraud: BofA Finds That Tech Is One Of The Dirtiest Industries</li>\n</ul>\n<p>And that's not all. Just days after SEC chief Gary Gensler said the SEC wanted to push asset management firms and banks to come up with more disclosures surrounding ESG funds and investments, Bloomberg is reporting that the SEC has launched yet another investigation to try and ascertain just how much of the $35 trillion ESG industry is stocked with \"dubious\" funds selling assets with little or nothing to qualify them as \"green\".</p>\n<p>For several months now, the SEC has been demanding that money managers explain the standards they use for classifying funds as ESG-focused. The review is the SEC's marks the second time the agency has looked into possible ESG mislabeling since last year, a sign that the issue is \"a priority for the agency and a reason for the industry to worry about a rash of enforcement actions,\" according to Bloomberg. Back in April, the SEC released a report claiming that some investment advisors weren't doing nearly enough to ensure that their ESG \"marketing\" rang true. Some violations were so egregious the SEC said they could be in violation of the law. The industry responded by explaining that these types of standards are difficult to assess because every firm has its own definition of what constitutes ESG.</p>\n<p>Just the other day, the press revealed an investigation launched by German and US authorities (including the SEC) into whether Deutsche's asset-management arm DWS Group exaggerated the environmental credentials of some investment products. The investigation was launched after a former senior executive blew the whistle. While DWS rejected the claims, its shares tumbled on the news.</p>\n<p>Per BBG, the SEC is \"following the money\".</p>\n<blockquote>\n \"It is a real area of scrutiny, particularly as it relates to disclosures,” said Morgan Miller, a partner at law firm Paul Hastings in Washington and a former SEC enforcement attorney.\n</blockquote>\n<p>The SEC is following the money: Few businesses are booming in high finance like sustainable investing, as governments, pension plans and corporations all seek to lower their carbon footprints and be better public citizens. Amid the rush for dollars, more and more ESG insiders have started sounding alarms that a lot of the marketing is hype, a term known in the industry as greenwashing.</p>\n<p>With Hurricane Ida getting people worked up about \"climate change\" once again, we wouldn't be surprised to see billions more flow into ESG funds over the coming weeks.</p>\n<p><img src=\"https://static.tigerbbs.com/d437677edd477e1f2e43c42b3463d5b7\" tg-width=\"1162\" tg-height=\"774\" referrerpolicy=\"no-referrer\"><i>Source:Bloomberg</i></p>\n<p>BBG's sources also claimed that the SEC sent a flurry of letters to investment advisors who were asked to describe \"in painstaking detail\" the process used to ensure assets are worthy of the ESG designation.</p>\n<blockquote>\n Letters that the SEC sent out earlier this year point to some of the agency’s top concerns, said the people who asked not to be named because the correspondence isn’t public.\n</blockquote>\n<blockquote>\n Investment advisers were asked to describe in painstaking detail the screening processes they use to ensure assets are worthy of ESG designations, one of the people said. The SEC also wants to know how firms are grappling with different jurisdictions’ requirements. For instance, Europe has specific standards that money managers must adhere to in making sure assets are green or sustainable. But in the U.S., it’s much murkier.\n</blockquote>\n<blockquote>\n Another SEC query sought information about ESG compliance programs, policies and procedures, a different person said. The SEC additionally asked about statements made by managers in their marketing materials or regulatory filings.\n</blockquote>\n<p>Since March, European money managers have had to disclose the actual ESG features of products being touted. In the U.S., no such mandate exists -- prompting confusion among financial firms and investors alike.</p>\n<p>But that could soon change, as one source told Bloomberg that the SEC's latest probe was bound to turn up some disappointing discoveries.</p>\n<blockquote>\n \"Given the squishiness of what it means to be an ESG investor, I’m suspecting they’re going to find some interesting things,\" Phillip Gillespie, a senior counsel at WilmerHale in Boston, said of the SEC.\n</blockquote>\n<p>With regulators in both the US and Europe closing in, the ESG bubble is likely bound to end in a similar manner to the asset bubbles that came before, like the tech bubble, the biotech bubble, etc.: with a brutal crash as investors realize that ESG's promise to save the world while generating alpha is hollow marketing babble, not a viable vision for their investments.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC Cracks Down On \"Dubious\" ESG Labels Tied To $35 Trillion In Assets</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC Cracks Down On \"Dubious\" ESG Labels Tied To $35 Trillion In Assets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 17:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/sec-cracks-down-dubious-esg-labels-tied-35-trillion-assets><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>If it wasn't already abundantly clear that ESG investing has become one of the hottest investing crazes of the new decade, Cathie Wood's announcement earlier this week that she had applied to the SEC ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/sec-cracks-down-dubious-esg-labels-tied-35-trillion-assets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite",".DJI":"道琼斯","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/sec-cracks-down-dubious-esg-labels-tied-35-trillion-assets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106783631","content_text":"If it wasn't already abundantly clear that ESG investing has become one of the hottest investing crazes of the new decade, Cathie Wood's announcement earlier this week that she had applied to the SEC for permission to launch an ESG-focused ETF - the fund will exclude alcohol, banking, chemicals, confectionary, tobacco, oil and gambling stocks, among others - should stand as a rather obvious confirmation.\nBut as the pace of growth in terms of assets dedicated to \"ESG\" funds started to accelerate, we started to notice that the assets being stuffed into these ESG funds didn't really look all that different from a typical equity fund. Just take a look at a list of the most popular holdings from last year.\nNow, take a look at the top holdings for ESGG, one of the top ESG-focused ETFs\nTop Carbon-Credit-Seller Launches Internal Probe After Selling \"Worthless\" Offsets To JPMorgan, Disney\nStocked with blue-chips, these funds don't exactly scream environmentally friendly and socially responsible. One industry insider confirmed as much when he shared a new term:\"green washing\".Since then, we have run at least a half dozen reports about abuses in the ESG space:\n\nThe Fraud That Is ESG Strikes Again: Six Of Top 10 ESG Funds Underperform The S&P500\nBehold The \"Green\" Scam: Here Are The Most Popular ESG Fund Holdings\nNation's Largest ESG Fund Has No Direct Renewable Holdings\nTop Carbon-Credit-Seller Launches Internal Probe After Selling \"Worthless\" Offsets To JPMorgan, Disney\nThe ESG Threat\nESG Investing – The Great Wall Street Money Heist\nThe Gigantic Holes In Anti-Oil ESG Activism\nMore ESG Fraud: BofA Finds That Tech Is One Of The Dirtiest Industries\n\nAnd that's not all. Just days after SEC chief Gary Gensler said the SEC wanted to push asset management firms and banks to come up with more disclosures surrounding ESG funds and investments, Bloomberg is reporting that the SEC has launched yet another investigation to try and ascertain just how much of the $35 trillion ESG industry is stocked with \"dubious\" funds selling assets with little or nothing to qualify them as \"green\".\nFor several months now, the SEC has been demanding that money managers explain the standards they use for classifying funds as ESG-focused. The review is the SEC's marks the second time the agency has looked into possible ESG mislabeling since last year, a sign that the issue is \"a priority for the agency and a reason for the industry to worry about a rash of enforcement actions,\" according to Bloomberg. Back in April, the SEC released a report claiming that some investment advisors weren't doing nearly enough to ensure that their ESG \"marketing\" rang true. Some violations were so egregious the SEC said they could be in violation of the law. The industry responded by explaining that these types of standards are difficult to assess because every firm has its own definition of what constitutes ESG.\nJust the other day, the press revealed an investigation launched by German and US authorities (including the SEC) into whether Deutsche's asset-management arm DWS Group exaggerated the environmental credentials of some investment products. The investigation was launched after a former senior executive blew the whistle. While DWS rejected the claims, its shares tumbled on the news.\nPer BBG, the SEC is \"following the money\".\n\n \"It is a real area of scrutiny, particularly as it relates to disclosures,” said Morgan Miller, a partner at law firm Paul Hastings in Washington and a former SEC enforcement attorney.\n\nThe SEC is following the money: Few businesses are booming in high finance like sustainable investing, as governments, pension plans and corporations all seek to lower their carbon footprints and be better public citizens. Amid the rush for dollars, more and more ESG insiders have started sounding alarms that a lot of the marketing is hype, a term known in the industry as greenwashing.\nWith Hurricane Ida getting people worked up about \"climate change\" once again, we wouldn't be surprised to see billions more flow into ESG funds over the coming weeks.\nSource:Bloomberg\nBBG's sources also claimed that the SEC sent a flurry of letters to investment advisors who were asked to describe \"in painstaking detail\" the process used to ensure assets are worthy of the ESG designation.\n\n Letters that the SEC sent out earlier this year point to some of the agency’s top concerns, said the people who asked not to be named because the correspondence isn’t public.\n\n\n Investment advisers were asked to describe in painstaking detail the screening processes they use to ensure assets are worthy of ESG designations, one of the people said. The SEC also wants to know how firms are grappling with different jurisdictions’ requirements. For instance, Europe has specific standards that money managers must adhere to in making sure assets are green or sustainable. But in the U.S., it’s much murkier.\n\n\n Another SEC query sought information about ESG compliance programs, policies and procedures, a different person said. The SEC additionally asked about statements made by managers in their marketing materials or regulatory filings.\n\nSince March, European money managers have had to disclose the actual ESG features of products being touted. In the U.S., no such mandate exists -- prompting confusion among financial firms and investors alike.\nBut that could soon change, as one source told Bloomberg that the SEC's latest probe was bound to turn up some disappointing discoveries.\n\n \"Given the squishiness of what it means to be an ESG investor, I’m suspecting they’re going to find some interesting things,\" Phillip Gillespie, a senior counsel at WilmerHale in Boston, said of the SEC.\n\nWith regulators in both the US and Europe closing in, the ESG bubble is likely bound to end in a similar manner to the asset bubbles that came before, like the tech bubble, the biotech bubble, etc.: with a brutal crash as investors realize that ESG's promise to save the world while generating alpha is hollow marketing babble, not a viable vision for their investments.","news_type":1,"symbols_score_info":{".SPX":0.9,"SPY":0.9,".DJI":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1807,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817342399,"gmtCreate":1630913233511,"gmtModify":1676530418963,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"lame","listText":"lame","text":"lame","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/817342399","repostId":"1194998203","repostType":4,"isVote":1,"tweetType":1,"viewCount":1689,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":817346297,"gmtCreate":1630913212919,"gmtModify":1676530418947,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"first to comment","listText":"first to comment","text":"first to 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comment myself","listText":"i comment myself","text":"i comment myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/814980187","repostId":"2164803413","repostType":4,"isVote":1,"tweetType":1,"viewCount":683,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":812533555,"gmtCreate":1630593639277,"gmtModify":1676530351686,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"lol","listText":"lol","text":"lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/812533555","repostId":"2164411840","repostType":4,"isVote":1,"tweetType":1,"viewCount":460,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":816696737,"gmtCreate":1630493282829,"gmtModify":1676530319036,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"siao","listText":"siao","text":"siao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/816696737","repostId":"1128788292","repostType":4,"repost":{"id":"1128788292","kind":"news","pubTimestamp":1630489878,"share":"https://ttm.financial/m/news/1128788292?lang=&edition=fundamental","pubTime":"2021-09-01 17:51","market":"us","language":"en","title":"Why I’m Still Rage-Buying Meme Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1128788292","media":"Barrons","summary":"Karl Marx would have loved Reddit. If the German philosopher were alive today, he’d be posting that ","content":"<p>Karl Marx would have loved Reddit. If the German philosopher were alive today, he’d be posting that everyone should get in on trading meme stocks and cryptocurrency. Not to get rich—though that’s a nice side benefit—but to strike back at the investor class. “It’s worthwhile running some risk in order to relieve the enemy of his money,” Marx&nbsp;wrote. I’m right there with you, Karl.</p>\n<p>Working-class millennials have been denied the chance to build generational wealth over the course of our professional careers. Many of us are risking what little we have left as a way of raging against a machine we feel is rigged against us. And we’re following in Marx’s footsteps.</p>\n<p>After a friend died in 1864, Marx received £820 in a bequest, his biographer&nbsp;recounts. That comes out to roughly $151,500 today after adjusting for inflation and applying current conversion rates. Marx used a portion of his inheritance to become a financial speculator, often engaging in the same sort of penny-stock bubble schemes that the notorious WallStreetBets sub-Reddit has been accused of engaging in this year. “[Stocks] are springing up like mushrooms this year,” Marx wrote in a letter to his uncle, bragging that he had already made £400 from speculation. He added that many of his investments were typically “forced up to quite an unreasonable level and then, for the most part, collapse.”</p>\n<p>Marx’s trading stories are difficult to substantiate, but millennials’ love of meme stocks is very real. I’ve already made more this year from trading meme stocks and cryptocurrency than I have as a professional writer. I’ve come to look at the meme stock boom as millennials’ chance to finally build wealth. But if not, we’re content with making the investors largely responsible for our financial woes feel a bit of the pain they’ve inflicted on us. Short-sellers are losing their shirts to the tune of$4.5 billion&nbsp;on meme stocks so far.</p>\n<p>As a 34-year-old American, almost every generational stereotype applies to me. HuffPost’s Michael Hobbessummed up&nbsp;millennials’ financial situation best in 2017: “My rent consumes nearly half my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling faster than the ice caps the baby boomers melted.”</p>\n<p>Perhaps because we’re the only American generation to live through two major recessions and two wars in our coming-up years, we’re the first generation to be financially worse off than our parents, despite being&nbsp;better educated&nbsp;on average. We paid for it, too. A year of college that cost $10,000 for boomers set millennials back more than $15,000 on average in inflation-adjusted dollars, according to&nbsp;Bloomberg. Millennials of color, particularly Black millennials, have it worse. They graduated with&nbsp;even more student debt&nbsp;than their white classmates, are&nbsp;far less likely&nbsp;to be hired in white-collar professions, and their households earn&nbsp;just 60%of what their white coworkers make.</p>\n<p>Millennials’ high-priced educations haven’t bought us much job security. A 2018 Gallup study&nbsp;called&nbsp;millennials the “job-hopping generation.” Maybe, but not by choice. A 2019University of Chicago study&nbsp;found millennials actually long for a stable career. It should come as little surprise, then, that a generation plagued with job insecurity and mounting debt is leading the“baby bust.”The birth rate is at its lowest in&nbsp;three decades. There may not be enough working-age Americans to care for the nation’s swelling senior population. Boomers effectively climbed the class ladder, then took a saw and cut off the rungs below them. (And they still ask us when we’ll give them grandchildren!)</p>\n<p>If all that doesn’t make meme stocks and cryptocurrency more appealing, at least it might help explain why some of us just don’t care any more about playing it safe. I’ll be the first to admit that investing in meme stocks isn’t a sustainable way to build wealth. A lot more of us will get hurt than get rich. But I’m not primarily investing to make money: I want the investors who crashed the economy and got bailed out in my senior year of college—thus&nbsp;torpedoing&nbsp;my career earning potential—to feel at least a little bit of the hardship they put my generation through. And given the&nbsp;predominantly millennial&nbsp;composition of /r/WallStreetBets, I know I’m not the only rage-driven investor.</p>\n<p>There’s plenty to be mad about. Like we saw with&nbsp;GameStop,workers organizing to make the stock market pay out in our favor results in strict blowback. After Redditors speculated GameStop shares through the roof in late January, mobile trading app Robinhood not only restricted trading, but even&nbsp;reportedly&nbsp;sold investors’ GameStop shares without their consent. (Robinhooddeniesforced-selling occurred.) When it came to light that Robinhood had a&nbsp;financial relationship&nbsp;with firms that help route its customers’ orders, it made a lot of newbie investors like me even more jaded about the markets.</p>\n<p>In March, when New York City opened movie theaters, I decided to buy AMC shares on a lark for $7 apiece. As of early June, my investment has appreciated in value by more than 550%. That could evaporate, but I’m taking a lesson from GameStop. Its stock is still trading at more than $250 per share despite starting the year under $20. I plan on continuing to hold my AMC shares in hopes the value will increase even more. When it’s finally time, I’ll sell half and re-invest my profits in cryptocurrency.</p>\n<p>When that happens, I’ll be far from the only millennial betting big on crypto. According to Business Insider, my generation is&nbsp;chiefly responsible&nbsp;for the sudden rise of cryptocurrency in 2021, in which both blue-chip digital currencies like Ethereum, as well as joke cryptocurrencies like Dogecoin, are thriving. Ethereum’s price has gone from $730.97 per coin on Jan. 1 to a peak of over $4,000 in May. Dogecoin has&nbsp;appreciatedby more than 21,000% since its inception as a meme in 2013. (I’m still kicking myself for selling my Dogecoin when it was trading for less than 10 cents, even though I still made thousands in profit). Millennials’ commitment to crypto is now forcing the giants to play along: In March,Morgan Stanley&nbsp;became the&nbsp;first bank&nbsp;to offer Bitcoin funds to its wealthy clients. And as if on cue, now that the workers have made a little money in the rigged casino, U.S. regulators are reportedly preparing a “crackdown” on cryptocurrency.</p>\n<p>Millennials went through childhood being told we had to work hard to have financial security. Then we were told we had to shackle ourselves with debt to get a college degree that would get us a good job. Then we were told that only a lucky few actually build wealth from their jobs and that to have true financial success, we should invest. And then when we invested, we were told we were doing it wrong. I get the message. Millennials aren’t meant to win. Financial security isn’t for us. So if we can make a few grand by speculating penny stocks to the moon and hurt a few smug hedge fund vultures in the process, we’ll settle for that.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why I’m Still Rage-Buying Meme Stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy I’m Still Rage-Buying Meme Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-01 17:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/why-im-still-rage-buying-meme-stocks-51623165336?mod=hp_LEAD_1_B_4><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Karl Marx would have loved Reddit. If the German philosopher were alive today, he’d be posting that everyone should get in on trading meme stocks and cryptocurrency. Not to get rich—though that’s a ...</p>\n\n<a href=\"https://www.barrons.com/articles/why-im-still-rage-buying-meme-stocks-51623165336?mod=hp_LEAD_1_B_4\">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","AMC":"AMC院线"},"source_url":"https://www.barrons.com/articles/why-im-still-rage-buying-meme-stocks-51623165336?mod=hp_LEAD_1_B_4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128788292","content_text":"Karl Marx would have loved Reddit. If the German philosopher were alive today, he’d be posting that everyone should get in on trading meme stocks and cryptocurrency. Not to get rich—though that’s a nice side benefit—but to strike back at the investor class. “It’s worthwhile running some risk in order to relieve the enemy of his money,” Marx wrote. I’m right there with you, Karl.\nWorking-class millennials have been denied the chance to build generational wealth over the course of our professional careers. Many of us are risking what little we have left as a way of raging against a machine we feel is rigged against us. And we’re following in Marx’s footsteps.\nAfter a friend died in 1864, Marx received £820 in a bequest, his biographer recounts. That comes out to roughly $151,500 today after adjusting for inflation and applying current conversion rates. Marx used a portion of his inheritance to become a financial speculator, often engaging in the same sort of penny-stock bubble schemes that the notorious WallStreetBets sub-Reddit has been accused of engaging in this year. “[Stocks] are springing up like mushrooms this year,” Marx wrote in a letter to his uncle, bragging that he had already made £400 from speculation. He added that many of his investments were typically “forced up to quite an unreasonable level and then, for the most part, collapse.”\nMarx’s trading stories are difficult to substantiate, but millennials’ love of meme stocks is very real. I’ve already made more this year from trading meme stocks and cryptocurrency than I have as a professional writer. I’ve come to look at the meme stock boom as millennials’ chance to finally build wealth. But if not, we’re content with making the investors largely responsible for our financial woes feel a bit of the pain they’ve inflicted on us. Short-sellers are losing their shirts to the tune of$4.5 billion on meme stocks so far.\nAs a 34-year-old American, almost every generational stereotype applies to me. HuffPost’s Michael Hobbessummed up millennials’ financial situation best in 2017: “My rent consumes nearly half my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling faster than the ice caps the baby boomers melted.”\nPerhaps because we’re the only American generation to live through two major recessions and two wars in our coming-up years, we’re the first generation to be financially worse off than our parents, despite being better educated on average. We paid for it, too. A year of college that cost $10,000 for boomers set millennials back more than $15,000 on average in inflation-adjusted dollars, according to Bloomberg. Millennials of color, particularly Black millennials, have it worse. They graduated with even more student debt than their white classmates, are far less likely to be hired in white-collar professions, and their households earn just 60%of what their white coworkers make.\nMillennials’ high-priced educations haven’t bought us much job security. A 2018 Gallup study called millennials the “job-hopping generation.” Maybe, but not by choice. A 2019University of Chicago study found millennials actually long for a stable career. It should come as little surprise, then, that a generation plagued with job insecurity and mounting debt is leading the“baby bust.”The birth rate is at its lowest in three decades. There may not be enough working-age Americans to care for the nation’s swelling senior population. Boomers effectively climbed the class ladder, then took a saw and cut off the rungs below them. (And they still ask us when we’ll give them grandchildren!)\nIf all that doesn’t make meme stocks and cryptocurrency more appealing, at least it might help explain why some of us just don’t care any more about playing it safe. I’ll be the first to admit that investing in meme stocks isn’t a sustainable way to build wealth. A lot more of us will get hurt than get rich. But I’m not primarily investing to make money: I want the investors who crashed the economy and got bailed out in my senior year of college—thus torpedoing my career earning potential—to feel at least a little bit of the hardship they put my generation through. And given the predominantly millennial composition of /r/WallStreetBets, I know I’m not the only rage-driven investor.\nThere’s plenty to be mad about. Like we saw with GameStop,workers organizing to make the stock market pay out in our favor results in strict blowback. After Redditors speculated GameStop shares through the roof in late January, mobile trading app Robinhood not only restricted trading, but even reportedly sold investors’ GameStop shares without their consent. (Robinhooddeniesforced-selling occurred.) When it came to light that Robinhood had a financial relationship with firms that help route its customers’ orders, it made a lot of newbie investors like me even more jaded about the markets.\nIn March, when New York City opened movie theaters, I decided to buy AMC shares on a lark for $7 apiece. As of early June, my investment has appreciated in value by more than 550%. That could evaporate, but I’m taking a lesson from GameStop. Its stock is still trading at more than $250 per share despite starting the year under $20. I plan on continuing to hold my AMC shares in hopes the value will increase even more. When it’s finally time, I’ll sell half and re-invest my profits in cryptocurrency.\nWhen that happens, I’ll be far from the only millennial betting big on crypto. According to Business Insider, my generation is chiefly responsible for the sudden rise of cryptocurrency in 2021, in which both blue-chip digital currencies like Ethereum, as well as joke cryptocurrencies like Dogecoin, are thriving. Ethereum’s price has gone from $730.97 per coin on Jan. 1 to a peak of over $4,000 in May. Dogecoin has appreciatedby more than 21,000% since its inception as a meme in 2013. (I’m still kicking myself for selling my Dogecoin when it was trading for less than 10 cents, even though I still made thousands in profit). Millennials’ commitment to crypto is now forcing the giants to play along: In March,Morgan Stanley became the first bank to offer Bitcoin funds to its wealthy clients. And as if on cue, now that the workers have made a little money in the rigged casino, U.S. regulators are reportedly preparing a “crackdown” on cryptocurrency.\nMillennials went through childhood being told we had to work hard to have financial security. Then we were told we had to shackle ourselves with debt to get a college degree that would get us a good job. Then we were told that only a lucky few actually build wealth from their jobs and that to have true financial success, we should invest. And then when we invested, we were told we were doing it wrong. I get the message. Millennials aren’t meant to win. Financial security isn’t for us. So if we can make a few grand by speculating penny stocks to the moon and hurt a few smug hedge fund vultures in the process, we’ll settle for that.","news_type":1,"symbols_score_info":{"AMC":0.9,"GME":0.9}},"isVote":1,"tweetType":1,"viewCount":656,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":818512563,"gmtCreate":1630419102352,"gmtModify":1676530298731,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"no more booster easy $?","listText":"no more booster easy $?","text":"no more booster easy $?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/818512563","repostId":"1165958269","repostType":4,"repost":{"id":"1165958269","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1630418022,"share":"https://ttm.financial/m/news/1165958269?lang=&edition=fundamental","pubTime":"2021-08-31 21:53","market":"us","language":"en","title":"Moderna shares rose more than 2% in early trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1165958269","media":"Tiger Newspress","summary":"Moderna shares rose more than 2% in early trading.\n\n\nA study examining the immune response of Modern","content":"<p>Moderna&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;2%&nbsp;in&nbsp;early&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/e3a6617d6ec5a20d69a181840ef582fb\" tg-width=\"885\" tg-height=\"634\" referrerpolicy=\"no-referrer\"></p>\n<ul>\n <li>A study examining the immune response of Moderna's&nbsp;COVID-19 vaccine to Pfizer&nbsp;/BioNTech's&nbsp;found that the former created more than twice as many antibodies as the latter.</li>\n <li>The study, published in the<i>Journal of the American Medical Association</i>, examined 2,499 health care workers in Belgium inoculated with one of the two vaccines.</li>\n</ul>","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>Moderna shares rose more than 2% in early trading</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\">\nModerna shares rose more than 2% in early trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-31 21:53</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Moderna&nbsp;shares&nbsp;rose&nbsp;more&nbsp;than&nbsp;2%&nbsp;in&nbsp;early&nbsp;trading.</p>\n<p><img src=\"https://static.tigerbbs.com/e3a6617d6ec5a20d69a181840ef582fb\" tg-width=\"885\" tg-height=\"634\" referrerpolicy=\"no-referrer\"></p>\n<ul>\n <li>A study examining the immune response of Moderna's&nbsp;COVID-19 vaccine to Pfizer&nbsp;/BioNTech's&nbsp;found that the former created more than twice as many antibodies as the latter.</li>\n <li>The study, published in the<i>Journal of the American Medical Association</i>, examined 2,499 health care workers in Belgium inoculated with one of the two vaccines.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PFE":"辉瑞","BNTX":"BioNTech SE","MRNA":"Moderna, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1165958269","content_text":"Moderna shares rose more than 2% in early trading.\n\n\nA study examining the immune response of Moderna's COVID-19 vaccine to Pfizer /BioNTech's found that the former created more than twice as many antibodies as the latter.\nThe study, published in theJournal of the American Medical Association, examined 2,499 health care workers in Belgium inoculated with one of the two vaccines.","news_type":1,"symbols_score_info":{"BNTX":0.9,"MRNA":0.9,"PFE":0.9}},"isVote":1,"tweetType":1,"viewCount":558,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":811359238,"gmtCreate":1630291298624,"gmtModify":1676530259002,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"nice","listText":"nice","text":"nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/811359238","repostId":"1122849091","repostType":4,"repost":{"id":"1122849091","kind":"news","pubTimestamp":1630289104,"share":"https://ttm.financial/m/news/1122849091?lang=&edition=fundamental","pubTime":"2021-08-30 10:05","market":"hk","language":"en","title":"Hong Kong: Shares start flat","url":"https://stock-news.laohu8.com/highlight/detail?id=1122849091","media":"AFP","summary":"[HONG KONG] Hong Kong stocks were barely moved at the start of business Monday morning as investors ","content":"<p>[HONG KONG] Hong Kong stocks were barely moved at the start of business Monday morning as investors struggled to follow up a record close on Wall Street that came after Federal Reserve boss Jerome Powell indicated the bank would be cautious in winding back monetary policy.</p>\n<p>The Hang Seng Index inched down 1.40 points to 25,406.49.</p>\n<p>The Shanghai Composite added 0.37 per cent or 12.92 points to 3,535.07, while the Shenzhen Composite Index on China's second exchange rose 0.20 per cent or 4.76 points to 2,444.45.</p>","source":"lsy1605843958005","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>Hong Kong: Shares start flat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHong Kong: Shares start flat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-30 10:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/stocks/hong-kong-shares-start-flat><strong>AFP</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>[HONG KONG] Hong Kong stocks were barely moved at the start of business Monday morning as investors struggled to follow up a record close on Wall Street that came after Federal Reserve boss Jerome ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/stocks/hong-kong-shares-start-flat\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSI":"恒生指数"},"source_url":"https://www.businesstimes.com.sg/stocks/hong-kong-shares-start-flat","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1122849091","content_text":"[HONG KONG] Hong Kong stocks were barely moved at the start of business Monday morning as investors struggled to follow up a record close on Wall Street that came after Federal Reserve boss Jerome Powell indicated the bank would be cautious in winding back monetary policy.\nThe Hang Seng Index inched down 1.40 points to 25,406.49.\nThe Shanghai Composite added 0.37 per cent or 12.92 points to 3,535.07, while the Shenzhen Composite Index on China's second exchange rose 0.20 per cent or 4.76 points to 2,444.45.","news_type":1,"symbols_score_info":{"HSI":0.9}},"isVote":1,"tweetType":1,"viewCount":720,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":813128892,"gmtCreate":1630155300216,"gmtModify":1676530235751,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/813128892","repostId":"2162024053","repostType":4,"isVote":1,"tweetType":1,"viewCount":519,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819154131,"gmtCreate":1630048362323,"gmtModify":1676530210167,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/819154131","repostId":"1157340887","repostType":4,"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":819154906,"gmtCreate":1630048346005,"gmtModify":1676530210175,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"okay","listText":"okay","text":"okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/819154906","repostId":"1149850459","repostType":4,"repost":{"id":"1149850459","kind":"news","pubTimestamp":1630048146,"share":"https://ttm.financial/m/news/1149850459?lang=&edition=fundamental","pubTime":"2021-08-27 15:09","market":"us","language":"en","title":"Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners","url":"https://stock-news.laohu8.com/highlight/detail?id=1149850459","media":"MarketWatch","summary":"Look for high-quality companies, one stock at a time\nAGENCE FRANCE-PRESSE/GETTY IMAGES\nThe stock mar","content":"<p>Look for high-quality companies, one stock at a time</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/92d5fb452d9db7f672a2a9eec51862eb\" tg-width=\"700\" tg-height=\"433\" width=\"100%\" height=\"auto\"><span>AGENCE FRANCE-PRESSE/GETTY IMAGES</span></p>\n<p>The stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing&nbsp;“Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.</p>\n<p>Then there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).</p>\n<p><b>Market timer’s gambit</b></p>\n<p>Rational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.&nbsp; They may play&nbsp;“Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.</p>\n<p>There are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.</p>\n<p>Here is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.</p>\n<p>The market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.</p>\n<p>You were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.</p>\n<p>The market declines&nbsp;another&nbsp;10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.</p>\n<p>The news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.&nbsp; Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.</p>\n<p>You get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.</p>\n<p>Even if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.</p>\n<p><b>One stock at a time</b></p>\n<p>Investing in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available:&nbsp;“One Stock at a Time.”</p>\n<p>Even in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).</p>\n<p>This process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.</p>\n<p>Investors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.</p>\n<p>To sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. But&nbsp;we don’t own the market; instead we have assembled a portfolio of companies priced attractively at 30- to 60-cents on the dollar —&nbsp;one stock at a time.</p>","source":"lsy1603348471595","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>Not every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners</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\">\nNot every stock is in a bubble. Here’s how to find today’s bargains and tomorrow’s winners\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-27 15:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/not-every-stock-is-in-a-bubble-heres-how-to-find-todays-bargains-and-tomorrows-winners-11630016489?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Look for high-quality companies, one stock at a time\nAGENCE FRANCE-PRESSE/GETTY IMAGES\nThe stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with ...</p>\n\n<a href=\"https://www.marketwatch.com/story/not-every-stock-is-in-a-bubble-heres-how-to-find-todays-bargains-and-tomorrows-winners-11630016489?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":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/not-every-stock-is-in-a-bubble-heres-how-to-find-todays-bargains-and-tomorrows-winners-11630016489?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1149850459","content_text":"Look for high-quality companies, one stock at a time\nAGENCE FRANCE-PRESSE/GETTY IMAGES\nThe stock market is in a bubble; this is not a secret. Most investors are ignoring it and just infatuated with the ride. They are playing “Fool’s Gambit” —waiting for a greater fool to buy their overvalued stock from them. And why not, greater fools have been showing up in droves for years. Low interest rates inflated the prices of all assets, forcing everyone to take greater and greater risks.\nThen there is pure, unadulterated greed. This market bubble is filled with this “get rich fast” attitude and the fear of missing out; all bubbles are. This time the market has been further deformed by social media, which seems like an enormous amplifier and arguably prolonger of that behavior, bringing what seems an endless supply of incremental buyers (bigger fools).\nMarket timer’s gambit\nRational people not drunk on greed, who are fine with getting rich slowly, may want to avoid this market altogether.  They may play “Market Timer’s Gambit.” Their argument (on the surface) is logical. It goes like this: “I am going to stay on the sidelines for now and will go in after the market dips”.\nThere are two problems with this strategy. First, market irrationality can last a long time. Second, though it sounds good in theory, in practice it is difficult to execute.\nHere is an example: Let’s say you went 100% in cash waiting for the market to correct. You waited for a long time and then the market declines 10%. You feel slightly vindicated, but the market really just settled to where it was a few months ago. You have a decision to make: Get in or wait? You are of course prudent, and the market is declining, so you decide to wait.\nThe market falls another 10%. You feel a bit more vindicated. Now you feel rewarded for your patience and for the last few years of return you’ve missed out on. But your gut tells you if the market declined 20% and it can go down lower. You wait.\nYou were right. The market declines another 10%. Economic news is ugly. The market decline may send the economy into a recession. Or the economy is already in a recession. Now you are worried. You decide to wait.\nThe market declines another 10%. This cash now feels so dear you don’t want to part with it. You feel like you’ve got this figured out. You tell yourself you’ll invest when the news gets better.\nThe news is not getting better. But a strange thing happens. The market has a few strong days. Commentators call them a “dead cat bounce,” expecting further declines. These few strong days are followed by a few more.  Suddenly the market has retraced the last 20% of the decline. You feel bad that you didn’t invest two weeks ago (at the now “obvious”) bottom.\nYou get the point. Once you are completely out of the market, it is incredibly difficult psychologically to dive back in. I’ve met quite a few people that have stayed out of the market since 2000 and are still waiting for their chance to get in. Just imagine the psychological rollercoaster they went through and the returns they left on the table.\nEven if you got the market timing right once, putting it into a repeatable process is impossible. In addition to getting the timing of the economy right, you have to time the stock market response to the economy. I know many people who timed the market successfully once; I don’t know any who’ve done it twice.\nOne stock at a time\nInvesting in the stock market doesn’t need to reside in the extremes of the Fool’s Gambit or the Market Timer’s Gambit. There is a different game available: “One Stock at a Time.”\nEven in this insanely overvalued market not all stocks are overvalued and in search of a greater fool. Armed with patience, a long-term time horizon and our time-tested value investing process, look for high-quality companies, run by great management, that are significantly undervalued (i.e., have a margin of safety).\nThis process is not fast and furious and won’t get you rich quickly. It requires mundane work and turning over a lot of rocks. At our firm, we read company financial filings, talk to management, competitors, build our own financial models, debate these investments among ourselves and with our global network of investors.\nInvestors can choose from tens of thousands of stocks globally. At our firm, we need only 20 to 30. When we cannot find enough stocks that meet our stringent investment criteria our cash balances go up, then decline as we find new stocks. We don’t time the market; we value individual stocks, buying when they are cheap and selling when they are dear.\nTo sum it up: The U.S. stock market today is a dollar bill trading for close to $2 or more. Many stocks are $1 changing hands for $4, $6, $20. But we don’t own the market; instead we have assembled a portfolio of companies priced attractively at 30- to 60-cents on the dollar — one stock at a time.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":837537560,"gmtCreate":1629899276350,"gmtModify":1676530166339,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3574053691106982","idStr":"3574053691106982"},"themes":[],"htmlText":"not good","listText":"not good","text":"not good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/837537560","repostId":"2162059068","repostType":4,"isVote":1,"tweetType":1,"viewCount":489,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":323644117,"gmtCreate":1615340618939,"gmtModify":1704781371559,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"please help to leave a comment, thanks in advance","listText":"please help to leave a comment, thanks in advance","text":"please help to leave a comment, thanks in advance","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":9,"repostSize":0,"link":"https://ttm.financial/post/323644117","repostId":"2118957623","repostType":2,"isVote":1,"tweetType":1,"viewCount":610,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":352604980,"gmtCreate":1616941844940,"gmtModify":1704800108368,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"please help like and comment!","listText":"please help like and comment!","text":"please help like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":7,"repostSize":0,"link":"https://ttm.financial/post/352604980","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://ttm.financial/m/news/1141686975?lang=&edition=fundamental","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zhihu Technology fall on its first day of trading</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\">\nZhihu Technology fall on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1,"symbols_score_info":{"ZH":0.9}},"isVote":1,"tweetType":1,"viewCount":827,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577415105079753","authorId":"3577415105079753","name":"股惑仔79","avatar":"https://static.tigerbbs.com/2521bf7235578dd93b9e7d10c59d5058","crmLevel":11,"crmLevelSwitch":0,"idStr":"3577415105079753","authorIdStr":"3577415105079753"},"content":"Help me too thks","text":"Help me too thks","html":"Help me too thks"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":347954511,"gmtCreate":1618459462933,"gmtModify":1704711161558,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"help to comment please","listText":"help to comment please","text":"help to comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/347954511","repostId":"1115715092","repostType":4,"isVote":1,"tweetType":1,"viewCount":481,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577092942653022","authorId":"3577092942653022","name":"XNOP593","avatar":"https://static.tigerbbs.com/732877c9630f22cc8eb6bebac5e10f6d","crmLevel":11,"crmLevelSwitch":0,"idStr":"3577092942653022","authorIdStr":"3577092942653022"},"content":"Response to my comment pls","text":"Response to my comment pls","html":"Response to my comment pls"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":325959235,"gmtCreate":1615858976427,"gmtModify":1704787550543,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"please help to like comment, thanks！","listText":"please help to like comment, thanks！","text":"please help to like comment, thanks！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/325959235","repostId":"2119170941","repostType":4,"repost":{"id":"2119170941","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1615858807,"share":"https://ttm.financial/m/news/2119170941?lang=&edition=fundamental","pubTime":"2021-03-16 09:40","market":"us","language":"en","title":"What Musk's 'Technoking' Title, Tesla's New Truck Exec Mean For Automaker's Tech, Bitcoin, Semi Plans","url":"https://stock-news.laohu8.com/highlight/detail?id=2119170941","media":"Benzinga","summary":"Tesla, Inc.  revealed an added title for CEO Elon Musk and a management change in two SEC filings Monday.The Tesla Analyst:  Wedbush analyst Daniel Ives has a Neutral rating on Tesla with a $950 price target.The Tesla Thesis:  The title of \"Technoking of Tesla\" is a hint at Musk viewing Tesla as a technology disruptor in the future, especially with robotaxis, full self-driving and massive technology advancements on the horizon, Ives said in a note.The new title of \"Master of Coin\" given to CFO Z","content":"<p><img src=\"https://static.tigerbbs.com/bd2a4e1cc0ee6c602a1d76dff5e53292\" tg-width=\"600\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Tesla, Inc. </b>(NASDAQ: TSLA) revealed an added title for CEO Elon Musk and a management change in&nbsp;two SEC filings Monday.</p>\n<p><b>The Tesla Analyst: </b> Wedbush analyst Daniel Ives has a Neutral rating on Tesla with a&nbsp;$950 price target.</p>\n<p><b>The Tesla Thesis: </b> The title of \"Technoking of Tesla\"&nbsp;is a hint at Musk viewing Tesla as a technology disruptor in the future, especially with robotaxis, full self-driving and massive technology advancements on the horizon, Ives said in a note.</p>\n<p>The new title of \"Master of Coin\"&nbsp;given to CFO Zach Kirkhorn is a signal that the company will increase its Bitcoin ownership in the coming years, the analyst said.</p>\n<p>The company may have made roughly $1.2 billion in paper profit on its bitcoin investment, he said.</p>\n<p>Jerome Guillen moving to the heavy truck frontier is a significant strategic move, underlining Tesla's plans to double down on its semi and trucking vision over the next few years, Ives said.</p>\n<p>Over the weekend, Tesla released a video of its new electric semi-truck prototype on the test track at Fremont, the analyst said.</p>\n<p>\"We continue to believe this is a 2022 model release that will be discussed in more detail over the coming months from Tesla as production plans start to develop.\"</p>\n<p>Tesla's success in ramping its EV initiatives and demand in China for the month of March will likely catalyze shares higher, according to Wedbush.</p>\n<p><b>TSLA Price Action: </b>At last check, Tesla shares were down 0.17% to $693.52.</p>\n<p><b>Latest Ratings for TSLA</b></p>\n<table>\n <tbody>\n  <tr>\n   <th>Date</th>\n   <th>Firm</th>\n   <th>Action</th>\n   <th>From</th>\n   <th>To</th>\n  </tr>\n </tbody>\n <tbody>\n  <tr>\n   <td>Mar 2021</td>\n   <td>Mizuho</td>\n   <td>Initiates Coverage On</td>\n   <td></td>\n   <td>Buy</td>\n  </tr>\n  <tr>\n   <td>Mar 2021</td>\n   <td>New Street</td>\n   <td>Upgrades</td>\n   <td>Neutral</td>\n   <td>Buy</td>\n  </tr>\n  <tr>\n   <td>Feb 2021</td>\n   <td><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a></td>\n   <td>Maintains</td>\n   <td></td>\n   <td>Overweight</td>\n  </tr>\n </tbody>\n</table>","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>What Musk's 'Technoking' Title, Tesla's New Truck Exec Mean For Automaker's Tech, Bitcoin, Semi Plans</title>\n<style 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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\">\nWhat Musk's 'Technoking' Title, Tesla's New Truck Exec Mean For Automaker's Tech, Bitcoin, Semi Plans\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-03-16 09:40</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p><img src=\"https://static.tigerbbs.com/bd2a4e1cc0ee6c602a1d76dff5e53292\" tg-width=\"600\" tg-height=\"400\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Tesla, Inc. </b>(NASDAQ: TSLA) revealed an added title for CEO Elon Musk and a management change in&nbsp;two SEC filings Monday.</p>\n<p><b>The Tesla Analyst: </b> Wedbush analyst Daniel Ives has a Neutral rating on Tesla with a&nbsp;$950 price target.</p>\n<p><b>The Tesla Thesis: </b> The title of \"Technoking of Tesla\"&nbsp;is a hint at Musk viewing Tesla as a technology disruptor in the future, especially with robotaxis, full self-driving and massive technology advancements on the horizon, Ives said in a note.</p>\n<p>The new title of \"Master of Coin\"&nbsp;given to CFO Zach Kirkhorn is a signal that the company will increase its Bitcoin ownership in the coming years, the analyst said.</p>\n<p>The company may have made roughly $1.2 billion in paper profit on its bitcoin investment, he said.</p>\n<p>Jerome Guillen moving to the heavy truck frontier is a significant strategic move, underlining Tesla's plans to double down on its semi and trucking vision over the next few years, Ives said.</p>\n<p>Over the weekend, Tesla released a video of its new electric semi-truck prototype on the test track at Fremont, the analyst said.</p>\n<p>\"We continue to believe this is a 2022 model release that will be discussed in more detail over the coming months from Tesla as production plans start to develop.\"</p>\n<p>Tesla's success in ramping its EV initiatives and demand in China for the month of March will likely catalyze shares higher, according to Wedbush.</p>\n<p><b>TSLA Price Action: </b>At last check, Tesla shares were down 0.17% to $693.52.</p>\n<p><b>Latest Ratings for TSLA</b></p>\n<table>\n <tbody>\n  <tr>\n   <th>Date</th>\n   <th>Firm</th>\n   <th>Action</th>\n   <th>From</th>\n   <th>To</th>\n  </tr>\n </tbody>\n <tbody>\n  <tr>\n   <td>Mar 2021</td>\n   <td>Mizuho</td>\n   <td>Initiates Coverage On</td>\n   <td></td>\n   <td>Buy</td>\n  </tr>\n  <tr>\n   <td>Mar 2021</td>\n   <td>New Street</td>\n   <td>Upgrades</td>\n   <td>Neutral</td>\n   <td>Buy</td>\n  </tr>\n  <tr>\n   <td>Feb 2021</td>\n   <td><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a></td>\n   <td>Maintains</td>\n   <td></td>\n   <td>Overweight</td>\n  </tr>\n </tbody>\n</table>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2119170941","content_text":"Tesla, Inc. (NASDAQ: TSLA) revealed an added title for CEO Elon Musk and a management change in two SEC filings Monday.\nThe Tesla Analyst:  Wedbush analyst Daniel Ives has a Neutral rating on Tesla with a $950 price target.\nThe Tesla Thesis:  The title of \"Technoking of Tesla\" is a hint at Musk viewing Tesla as a technology disruptor in the future, especially with robotaxis, full self-driving and massive technology advancements on the horizon, Ives said in a note.\nThe new title of \"Master of Coin\" given to CFO Zach Kirkhorn is a signal that the company will increase its Bitcoin ownership in the coming years, the analyst said.\nThe company may have made roughly $1.2 billion in paper profit on its bitcoin investment, he said.\nJerome Guillen moving to the heavy truck frontier is a significant strategic move, underlining Tesla's plans to double down on its semi and trucking vision over the next few years, Ives said.\nOver the weekend, Tesla released a video of its new electric semi-truck prototype on the test track at Fremont, the analyst said.\n\"We continue to believe this is a 2022 model release that will be discussed in more detail over the coming months from Tesla as production plans start to develop.\"\nTesla's success in ramping its EV initiatives and demand in China for the month of March will likely catalyze shares higher, according to Wedbush.\nTSLA Price Action: At last check, Tesla shares were down 0.17% to $693.52.\nLatest Ratings for TSLA\n\n\n\nDate\nFirm\nAction\nFrom\nTo\n\n\n\n\nMar 2021\nMizuho\nInitiates Coverage On\n\nBuy\n\n\nMar 2021\nNew Street\nUpgrades\nNeutral\nBuy\n\n\nFeb 2021\nMorgan Stanley\nMaintains\n\nOverweight","news_type":1,"symbols_score_info":{"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":422,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":323523504,"gmtCreate":1615357820008,"gmtModify":1704781613425,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"please response to my comment, thank you!","listText":"please response to my comment, thank you!","text":"please response to my comment, thank you!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/323523504","repostId":"1188476198","repostType":4,"repost":{"id":"1188476198","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1615357462,"share":"https://ttm.financial/m/news/1188476198?lang=&edition=fundamental","pubTime":"2021-03-10 14:24","market":"us","language":"en","title":"Key Treasury auction could determine direction of yields","url":"https://stock-news.laohu8.com/highlight/detail?id=1188476198","media":"Reuters","summary":"NEW YORK (Reuters) - Investors concerned about demand for U.S. Treasury debt will be watching Wednes","content":"<p>NEW YORK (Reuters) - Investors concerned about demand for U.S. Treasury debt will be watching Wednesday’s 10-year auction for clues to where yields in the recently volatile market may be headed.</p><p>The U.S. Treasury Department has increased debt issuance dramatically in the last year to fund coronavirus stimulus endeavors. Roughly $3.6 trillion of new government paper was issued in 2020 versus $2.9 trillion the year prior, according to SIFMA. With President Joe Biden’s $1.9 trillion fiscal package on the docket, issuance in 2021 is slated to rise to $4 trillion this year, according to ING.</p><p>Ballooning supply and weak demand at an auction of seven-year notes in late February helped send the 10-year yield more than 20 basis points higher, with spillover volatility in the equity market. That has put investors on watch for Wednesday's auctionhereof $38 billion in 10-year notes at 1 p.m. EST.</p><p>“I think (the 10-year) auction will have a significant impact on sentiment over the next few weeks,” said Gregory Whiteley, portfolio manager at DoubleLine.</p><p>Analysts at NatWest wrote in a note that the 10-year and subsequent 30-year auction - scheduled on Thursday - could cause “another mid-week surge in yields.”</p><p>An auction on Tuesday of $58 billion in U.S. three-year notes went “not so well as to warrant any rethink” on the 10-year auction, said NatWest.</p><p>A move higher in yields could also prompt a comment from the Federal Reserve, which holds its next policy-setting meeting on March 16-17.</p><p>“If the market runs too far ahead of itself, I would expect (the Fed) to have to say something ... to cap rates from going too much higher,” said David Norris, head of U.S. credit at TwentyFour Asset Management.</p><p>Whiteley said another 20-basis-point move higher in the 10-year yield is possible in the next week or two if demand at auction is weak.</p><p>Among the tools the Fed has at its disposal are an increase in its Treasury purchases and an extension of a regulatory break on a rule called the supplementary leverage ratio, which would allow banks to maintain current holdings of Treasuries. Still, Fed Chair Jerome Powell in an interview with the Wall Street Journal brushed off concerns about higher yields.</p><p>“If the auctions go well, this could be a sign to the Fed that rates are increasing for all the right reasons,” said Meghan Swiber, U.S. rates strategist at Bank of America, adding that with a fair amount of demand at auctions the Fed might not “necessarily need to step in.”</p><p>Key to the performance of Wednesday’s auction is demand from investors in Japan - the largest foreign holder of U.S. government debt securities, according to Treasury Department data - as investors square away positions ahead of the March 31 year end. Some of the weak demand at the seven-year auction was due to less buying from Japan, said Ben Jeffery, U.S. rates strategist at BMO Capital Markets.</p><p>“The same dynamic holds this week for the 10-year auction this week,” he said.</p><p>But a further rise in yields following the auction could ultimately entice those investors back into the market and cap the rise in rates.</p><p>“We think that as rates increase we could actually have Japanese investors and pension funds step in at these levels because Treasury yields do look really attractive relative to their local alternatives,” Swiber said.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Key Treasury auction could determine direction of yields</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\">\nKey Treasury auction could determine direction of yields\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-03-10 14:24</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK (Reuters) - Investors concerned about demand for U.S. Treasury debt will be watching Wednesday’s 10-year auction for clues to where yields in the recently volatile market may be headed.</p><p>The U.S. Treasury Department has increased debt issuance dramatically in the last year to fund coronavirus stimulus endeavors. Roughly $3.6 trillion of new government paper was issued in 2020 versus $2.9 trillion the year prior, according to SIFMA. With President Joe Biden’s $1.9 trillion fiscal package on the docket, issuance in 2021 is slated to rise to $4 trillion this year, according to ING.</p><p>Ballooning supply and weak demand at an auction of seven-year notes in late February helped send the 10-year yield more than 20 basis points higher, with spillover volatility in the equity market. That has put investors on watch for Wednesday's auctionhereof $38 billion in 10-year notes at 1 p.m. EST.</p><p>“I think (the 10-year) auction will have a significant impact on sentiment over the next few weeks,” said Gregory Whiteley, portfolio manager at DoubleLine.</p><p>Analysts at NatWest wrote in a note that the 10-year and subsequent 30-year auction - scheduled on Thursday - could cause “another mid-week surge in yields.”</p><p>An auction on Tuesday of $58 billion in U.S. three-year notes went “not so well as to warrant any rethink” on the 10-year auction, said NatWest.</p><p>A move higher in yields could also prompt a comment from the Federal Reserve, which holds its next policy-setting meeting on March 16-17.</p><p>“If the market runs too far ahead of itself, I would expect (the Fed) to have to say something ... to cap rates from going too much higher,” said David Norris, head of U.S. credit at TwentyFour Asset Management.</p><p>Whiteley said another 20-basis-point move higher in the 10-year yield is possible in the next week or two if demand at auction is weak.</p><p>Among the tools the Fed has at its disposal are an increase in its Treasury purchases and an extension of a regulatory break on a rule called the supplementary leverage ratio, which would allow banks to maintain current holdings of Treasuries. Still, Fed Chair Jerome Powell in an interview with the Wall Street Journal brushed off concerns about higher yields.</p><p>“If the auctions go well, this could be a sign to the Fed that rates are increasing for all the right reasons,” said Meghan Swiber, U.S. rates strategist at Bank of America, adding that with a fair amount of demand at auctions the Fed might not “necessarily need to step in.”</p><p>Key to the performance of Wednesday’s auction is demand from investors in Japan - the largest foreign holder of U.S. government debt securities, according to Treasury Department data - as investors square away positions ahead of the March 31 year end. Some of the weak demand at the seven-year auction was due to less buying from Japan, said Ben Jeffery, U.S. rates strategist at BMO Capital Markets.</p><p>“The same dynamic holds this week for the 10-year auction this week,” he said.</p><p>But a further rise in yields following the auction could ultimately entice those investors back into the market and cap the rise in rates.</p><p>“We think that as rates increase we could actually have Japanese investors and pension funds step in at these levels because Treasury yields do look really attractive relative to their local alternatives,” Swiber said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188476198","content_text":"NEW YORK (Reuters) - Investors concerned about demand for U.S. Treasury debt will be watching Wednesday’s 10-year auction for clues to where yields in the recently volatile market may be headed.The U.S. Treasury Department has increased debt issuance dramatically in the last year to fund coronavirus stimulus endeavors. Roughly $3.6 trillion of new government paper was issued in 2020 versus $2.9 trillion the year prior, according to SIFMA. With President Joe Biden’s $1.9 trillion fiscal package on the docket, issuance in 2021 is slated to rise to $4 trillion this year, according to ING.Ballooning supply and weak demand at an auction of seven-year notes in late February helped send the 10-year yield more than 20 basis points higher, with spillover volatility in the equity market. That has put investors on watch for Wednesday's auctionhereof $38 billion in 10-year notes at 1 p.m. EST.“I think (the 10-year) auction will have a significant impact on sentiment over the next few weeks,” said Gregory Whiteley, portfolio manager at DoubleLine.Analysts at NatWest wrote in a note that the 10-year and subsequent 30-year auction - scheduled on Thursday - could cause “another mid-week surge in yields.”An auction on Tuesday of $58 billion in U.S. three-year notes went “not so well as to warrant any rethink” on the 10-year auction, said NatWest.A move higher in yields could also prompt a comment from the Federal Reserve, which holds its next policy-setting meeting on March 16-17.“If the market runs too far ahead of itself, I would expect (the Fed) to have to say something ... to cap rates from going too much higher,” said David Norris, head of U.S. credit at TwentyFour Asset Management.Whiteley said another 20-basis-point move higher in the 10-year yield is possible in the next week or two if demand at auction is weak.Among the tools the Fed has at its disposal are an increase in its Treasury purchases and an extension of a regulatory break on a rule called the supplementary leverage ratio, which would allow banks to maintain current holdings of Treasuries. Still, Fed Chair Jerome Powell in an interview with the Wall Street Journal brushed off concerns about higher yields.“If the auctions go well, this could be a sign to the Fed that rates are increasing for all the right reasons,” said Meghan Swiber, U.S. rates strategist at Bank of America, adding that with a fair amount of demand at auctions the Fed might not “necessarily need to step in.”Key to the performance of Wednesday’s auction is demand from investors in Japan - the largest foreign holder of U.S. government debt securities, according to Treasury Department data - as investors square away positions ahead of the March 31 year end. Some of the weak demand at the seven-year auction was due to less buying from Japan, said Ben Jeffery, U.S. rates strategist at BMO Capital Markets.“The same dynamic holds this week for the 10-year auction this week,” he said.But a further rise in yields following the auction could ultimately entice those investors back into the market and cap the rise in rates.“We think that as rates increase we could actually have Japanese investors and pension funds step in at these levels because Treasury yields do look really attractive relative to their local alternatives,” Swiber said.","news_type":1,"symbols_score_info":{"ZNmain":0.9,".IXIC":0.9,".DJI":0.9,".SPX":0.9}},"isVote":1,"tweetType":1,"viewCount":278,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349211903,"gmtCreate":1617614723502,"gmtModify":1704700854082,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"please help to like and comment.","listText":"please help to like and comment.","text":"please help to like and comment.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/349211903","repostId":"2125768475","repostType":4,"repost":{"id":"2125768475","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1617614291,"share":"https://ttm.financial/m/news/2125768475?lang=&edition=fundamental","pubTime":"2021-04-05 17:18","market":"us","language":"en","title":"5 Stocks To Watch For April 5, 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2125768475","media":"Benzinga","summary":"Some of the stocks that may grab investor focus today are:","content":"<p>Some of the stocks that may grab investor focus today are:</p>\n<ul>\n <li><b>Tesla Inc </b> (NASDAQ:TSLA) reported that it has delivered 184,800 vehicles in the first quarter, handily exceeding the 168,000 number analysts expected. Tesla shares gained 5.3% to $697.11 in pre-market trading.</li>\n <li><b>$Bank of America Corp(BAC-N)$</b> (NYSE:BAC) announced the acquisition of Axia Technologies, Inc., a health care payment and technology firm focused on facilitating secure patient payments. The bank is expected to release quarterly earnings on April 15. Bank of America shares rose 2.1% to close at $39.49 on Thursday.</li>\n <li>Wall Street expects <b> <a href=\"https://laohu8.com/S/DCT\">Duck Creek Technologies, Inc.</a></b> (NASDAQ:DCT) to post a quarterly loss at $0.03 per share on revenue of $59.20 million after the closing bell. Duck Creek Technologies shares fell 0.4% to close at $44.96 on Thursday.</li>\n</ul>\n<ul>\n <li><b>Franklin Covey Co. </b> (NYSE:FC) reported a narrower-than-expected loss for its second quarter, while sales missed estimates. Franklin Covey shares gained 3.5% to close at $ $29.35 on Thursday.</li>\n <li><b><a href=\"https://laohu8.com/S/IEPRR\">Icahn Enterprises LP</a></b> (NASDAQ:IEP) named former GE executive Aris Kekedjian as its CEO, the Wall Street Journal reported. Icahn Enterprises shares rose 2.5% to close at $55.05 on Thursday.</li>\n</ul>","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>5 Stocks To Watch For April 5, 2021</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\">\n5 Stocks To Watch For April 5, 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-04-05 17:18</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Some of the stocks that may grab investor focus today are:</p>\n<ul>\n <li><b>Tesla Inc </b> (NASDAQ:TSLA) reported that it has delivered 184,800 vehicles in the first quarter, handily exceeding the 168,000 number analysts expected. Tesla shares gained 5.3% to $697.11 in pre-market trading.</li>\n <li><b>$Bank of America Corp(BAC-N)$</b> (NYSE:BAC) announced the acquisition of Axia Technologies, Inc., a health care payment and technology firm focused on facilitating secure patient payments. The bank is expected to release quarterly earnings on April 15. Bank of America shares rose 2.1% to close at $39.49 on Thursday.</li>\n <li>Wall Street expects <b> <a href=\"https://laohu8.com/S/DCT\">Duck Creek Technologies, Inc.</a></b> (NASDAQ:DCT) to post a quarterly loss at $0.03 per share on revenue of $59.20 million after the closing bell. Duck Creek Technologies shares fell 0.4% to close at $44.96 on Thursday.</li>\n</ul>\n<ul>\n <li><b>Franklin Covey Co. </b> (NYSE:FC) reported a narrower-than-expected loss for its second quarter, while sales missed estimates. Franklin Covey shares gained 3.5% to close at $ $29.35 on Thursday.</li>\n <li><b><a href=\"https://laohu8.com/S/IEPRR\">Icahn Enterprises LP</a></b> (NASDAQ:IEP) named former GE executive Aris Kekedjian as its CEO, the Wall Street Journal reported. Icahn Enterprises shares rose 2.5% to close at $55.05 on Thursday.</li>\n</ul>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","FC":"富兰克林柯维","BAC":"美国银行","IEP":"伊坎企业"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125768475","content_text":"Some of the stocks that may grab investor focus today are:\n\nTesla Inc  (NASDAQ:TSLA) reported that it has delivered 184,800 vehicles in the first quarter, handily exceeding the 168,000 number analysts expected. Tesla shares gained 5.3% to $697.11 in pre-market trading.\n$Bank of America Corp(BAC-N)$ (NYSE:BAC) announced the acquisition of Axia Technologies, Inc., a health care payment and technology firm focused on facilitating secure patient payments. The bank is expected to release quarterly earnings on April 15. Bank of America shares rose 2.1% to close at $39.49 on Thursday.\nWall Street expects  Duck Creek Technologies, Inc. (NASDAQ:DCT) to post a quarterly loss at $0.03 per share on revenue of $59.20 million after the closing bell. Duck Creek Technologies shares fell 0.4% to close at $44.96 on Thursday.\n\n\nFranklin Covey Co.  (NYSE:FC) reported a narrower-than-expected loss for its second quarter, while sales missed estimates. Franklin Covey shares gained 3.5% to close at $ $29.35 on Thursday.\nIcahn Enterprises LP (NASDAQ:IEP) named former GE executive Aris Kekedjian as its CEO, the Wall Street Journal reported. Icahn Enterprises shares rose 2.5% to close at $55.05 on Thursday.","news_type":1,"symbols_score_info":{"IEP":0.9,"FC":0.9,"BAC":0.9,"DCT":0.9,"TSLA":0.9}},"isVote":1,"tweetType":1,"viewCount":509,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":183121162,"gmtCreate":1623316233556,"gmtModify":1704200717105,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"please reply to this comment&nbsp;","listText":"please reply to this comment&nbsp;","text":"please reply to this comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/183121162","repostId":"1115024001","repostType":4,"isVote":1,"tweetType":1,"viewCount":722,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":354663768,"gmtCreate":1617167517254,"gmtModify":1704696712378,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"do please like and comment!","listText":"do please like and comment!","text":"do please like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/354663768","repostId":"2123244656","repostType":4,"isVote":1,"tweetType":1,"viewCount":540,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3557433279201512","authorId":"3557433279201512","name":"Couragesther","avatar":"https://static.tigerbbs.com/fb776fde22322bb11f3651d216a6b06e","crmLevel":11,"crmLevelSwitch":0,"idStr":"3557433279201512","authorIdStr":"3557433279201512"},"content":"Comment back pleaSe","text":"Comment back pleaSe","html":"Comment back pleaSe"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":140032359,"gmtCreate":1625618879771,"gmtModify":1703744958135,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"he is nowhere near accurate. just noise.","listText":"he is nowhere near accurate. just noise.","text":"he is nowhere near accurate. just noise.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/140032359","repostId":"1120486332","repostType":4,"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":350062242,"gmtCreate":1616140031186,"gmtModify":1704791434997,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"Please help to comment, thanks!","listText":"Please help to comment, thanks!","text":"Please help to comment, thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/350062242","repostId":"1108858803","repostType":4,"isVote":1,"tweetType":1,"viewCount":736,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":869759027,"gmtCreate":1632323629569,"gmtModify":1676530753732,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"buy the dip","listText":"buy the dip","text":"buy the dip","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/869759027","repostId":"1154932699","repostType":4,"repost":{"id":"1154932699","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632321484,"share":"https://ttm.financial/m/news/1154932699?lang=&edition=fundamental","pubTime":"2021-09-22 22:38","market":"us","language":"en","title":"a.k.a. Brands opens for trading at $9.5, down 13.64% from IPO price","url":"https://stock-news.laohu8.com/highlight/detail?id=1154932699","media":"Tiger Newspress","summary":"(Sept 22) a.k.a. Brands Holding Corp. opens for trading at $9.5, down 13.64% from IPO price.\n\nCompan","content":"<p>(Sept 22)&nbsp;<b><a href=\"https://laohu8.com/S/AKA\">a.k.a. Brands Holding Corp.</a> </b>opens for trading at $9.5, down 13.64% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/2655ceafc9d04ddedb23eed6e4de700b\" tg-width=\"968\" tg-height=\"556\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company &amp; Technology</b></p>\n<p>San Francisco, California-based a.k.a. Brands was founded to develop a portfolio of digitally-focused, DTC consumer apparel and fashion brands with a global reach.</p>\n<p>Management is headed by Chief Executive Officer Jill Ramsey, who has been with the firm since May 2020 and was previously Chief Product and Digital Revenue Officer at Macy's.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>Princess Polly</li>\n <li>Culture Kings</li>\n <li>Petal &amp; Pup</li>\n <li>Rebdolls</li>\n</ul>\n<p>Below is the a.k.a. platform as it currently stands:</p>\n<p><img src=\"https://static.tigerbbs.com/f7ce425ad6f03482b7316d1970a64a8e\" tg-width=\"1280\" tg-height=\"1058\" referrerpolicy=\"no-referrer\">a.k.a. Brands has received at least $330 million in equity investment from investors including New Excelerate, Beard Entities and Bryett Enterprises Trust.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The company focuses its marketing efforts on Millennials and Gen Z consumers who 'seek fashion inspiration on social media and primarily shop online and via mobile devices.'</p>\n<p>So, a.k.a. leverages its data to provide relevant social content and make other digital marketing strategy efforts to reach consumers directly online.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenues have increased, as the figures below indicate:</p>\n<p><img src=\"https://static.tigerbbs.com/09de0dff45009ec1618d62f05ee32627\" tg-width=\"614\" tg-height=\"307\" referrerpolicy=\"no-referrer\">The Selling efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling spend, was stable in the most recent reporting period, as shown in the table below:</p>\n<p><img src=\"https://static.tigerbbs.com/3ce88e3f54fea202f724c03c0a3157be\" tg-width=\"610\" tg-height=\"242\" referrerpolicy=\"no-referrer\">For a.k.a.’s largest property, Princess Polly, user engagement measured by average number of pages per visit on that website has remained relatively flat over the last two years, with a recent slight increase to a current blended average desktop/mobile of 7.28 pages per visit, as the chart shows below:</p>\n<p><img src=\"https://static.tigerbbs.com/8faa1fea511d6ca9aedc0d4323baa69b\" tg-width=\"1010\" tg-height=\"497\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source:Similarweb)</p>\n<p>According to a marketresearch reportby BlueCart, the global market for DTC (direct-to-consumer) sales is expected to reach $20 billion globally in 2021.</p>\n<p>This represents a forecast potential increase of 15% over results in 2020.</p>\n<p>The main drivers for this expected growth are an increase in consumer openness to hearing directly from manufacturers via online channels.</p>\n<p>Also, there is a growing desire by businesses to gain an edge through greater data-driven insights stemming from direct relationships with their customers rather than working through 3rd party distributors and retail outlets.</p>\n<p>Major competitive or other industry participants by type include:</p>\n<ul>\n <li>Ecommerce companies</li>\n <li>In-person stores</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>a.k.a. Brands’ recent financial results can be summarized as follows (includes 55% stake in Culture Kings Group):</p>\n<ul>\n <li>Sharply growing topline revenue</li>\n <li>Growing gross profit</li>\n <li>Increasing gross margin</li>\n <li>Uneven operating profit and margin</li>\n <li>Variable cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p><img src=\"https://static.tigerbbs.com/3a4b8f665d53cacb759e02e61c0e0fac\" tg-width=\"610\" tg-height=\"616\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/7f24f3b6311e665efae356978c984a91\" tg-width=\"611\" tg-height=\"618\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/eeba7aa58d9c2188ca35f7d3ddbfd57a\" tg-width=\"610\" tg-height=\"620\" referrerpolicy=\"no-referrer\">As of June 30, 2021, a.k.a. Brands had $34.3 million in cash and $277.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p><b>IPO Details</b></p>\n<p>AKA intends to sell 13.9 million shares of common stock at a proposed midpoint price of $18.00 per share for gross proceeds of approximately $250 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO (ex- underwriter options) would approximate $2.3 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 10.72%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Per the firm’s most recent regulatory filing, it plans to use the net proceeds as follows (in conjunction with a planned new senior secured credit facility):</p>\n<p><img src=\"https://static.tigerbbs.com/0b37cb842c1d92125dec5e45108e3378\" tg-width=\"1280\" tg-height=\"289\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source)</p>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management believes that any legal claims against it would not be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are BofA Securities, Credit Suisse, Jefferies and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm’s relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<p><img src=\"https://static.tigerbbs.com/83589d7d85d1719f3237ee2bc10b5d23\" tg-width=\"612\" tg-height=\"708\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Commentary</b></p>\n<p>AKA is going public to pay down debt and for its future expansion plans.</p>\n<p>AKS’ financials show sharply growing topline revenue and gross profit, increasing gross margin but uneven operating profit and margin and variable cash flow from operations</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenue has increased and its Selling efficiency rate was stable at an impressive 2.3x.</p>\n<p>The market opportunity for selling fashionable clothing direct to consumer [DTC] aimed at younger demographics is large and expected to grow substantially in the years ahead.</p>\n<p>Being a mobile-first DTC firm, AKA is well-positioned to adjust to a market that is focused on using online, mobile-phone app purchase modalities.</p>\n<p>BofA Securities is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 11.5% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the high rate of change in consumer tastes and preferences, which can make it challenging and costly to react to changes in a compressed time period.</p>\n<p>As for valuation, compared toa basketof publicly held Apparel companies complied by noted valuation expert Dr. Aswath Damodaran which as of January 2021 had an average EV/Sales multiple of 2.03x, AKA is seeking an EV/Revenue multiple of 5.03x.</p>\n<p>AKA is growing topline revenue sharply, in part due to its acquisition activities but its operating margin was 4.6% in the most recent six-month period versus the public basket of an average of 5.93%.</p>\n<p>So AKA is growing quickly through acquisition but has a lower operating margin than its public peers.</p>\n<p>However, I favor DTC companies for things like apparel, as the firm can adjust its offering much faster and more accurately as a result of its direct relationship with customers.</p>\n<p>Also, AKA’s mobile-first approach combined with DTC business model also positions the firm well for its target demographic of younger consumers.</p>\n<p>Although the IPO isn’t cheap, I believe AKA has significant room to grow and continue executing its business model approach, so the IPO is worth consideration.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>a.k.a. Brands opens for trading at $9.5, down 13.64% from IPO price</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\">\na.k.a. Brands opens for trading at $9.5, down 13.64% from IPO price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-22 22:38</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 22)&nbsp;<b><a href=\"https://laohu8.com/S/AKA\">a.k.a. Brands Holding Corp.</a> </b>opens for trading at $9.5, down 13.64% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/2655ceafc9d04ddedb23eed6e4de700b\" tg-width=\"968\" tg-height=\"556\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company &amp; Technology</b></p>\n<p>San Francisco, California-based a.k.a. Brands was founded to develop a portfolio of digitally-focused, DTC consumer apparel and fashion brands with a global reach.</p>\n<p>Management is headed by Chief Executive Officer Jill Ramsey, who has been with the firm since May 2020 and was previously Chief Product and Digital Revenue Officer at Macy's.</p>\n<p>The company’s primary offerings include:</p>\n<ul>\n <li>Princess Polly</li>\n <li>Culture Kings</li>\n <li>Petal &amp; Pup</li>\n <li>Rebdolls</li>\n</ul>\n<p>Below is the a.k.a. platform as it currently stands:</p>\n<p><img src=\"https://static.tigerbbs.com/f7ce425ad6f03482b7316d1970a64a8e\" tg-width=\"1280\" tg-height=\"1058\" referrerpolicy=\"no-referrer\">a.k.a. Brands has received at least $330 million in equity investment from investors including New Excelerate, Beard Entities and Bryett Enterprises Trust.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The company focuses its marketing efforts on Millennials and Gen Z consumers who 'seek fashion inspiration on social media and primarily shop online and via mobile devices.'</p>\n<p>So, a.k.a. leverages its data to provide relevant social content and make other digital marketing strategy efforts to reach consumers directly online.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenues have increased, as the figures below indicate:</p>\n<p><img src=\"https://static.tigerbbs.com/09de0dff45009ec1618d62f05ee32627\" tg-width=\"614\" tg-height=\"307\" referrerpolicy=\"no-referrer\">The Selling efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling spend, was stable in the most recent reporting period, as shown in the table below:</p>\n<p><img src=\"https://static.tigerbbs.com/3ce88e3f54fea202f724c03c0a3157be\" tg-width=\"610\" tg-height=\"242\" referrerpolicy=\"no-referrer\">For a.k.a.’s largest property, Princess Polly, user engagement measured by average number of pages per visit on that website has remained relatively flat over the last two years, with a recent slight increase to a current blended average desktop/mobile of 7.28 pages per visit, as the chart shows below:</p>\n<p><img src=\"https://static.tigerbbs.com/8faa1fea511d6ca9aedc0d4323baa69b\" tg-width=\"1010\" tg-height=\"497\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source:Similarweb)</p>\n<p>According to a marketresearch reportby BlueCart, the global market for DTC (direct-to-consumer) sales is expected to reach $20 billion globally in 2021.</p>\n<p>This represents a forecast potential increase of 15% over results in 2020.</p>\n<p>The main drivers for this expected growth are an increase in consumer openness to hearing directly from manufacturers via online channels.</p>\n<p>Also, there is a growing desire by businesses to gain an edge through greater data-driven insights stemming from direct relationships with their customers rather than working through 3rd party distributors and retail outlets.</p>\n<p>Major competitive or other industry participants by type include:</p>\n<ul>\n <li>Ecommerce companies</li>\n <li>In-person stores</li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>a.k.a. Brands’ recent financial results can be summarized as follows (includes 55% stake in Culture Kings Group):</p>\n<ul>\n <li>Sharply growing topline revenue</li>\n <li>Growing gross profit</li>\n <li>Increasing gross margin</li>\n <li>Uneven operating profit and margin</li>\n <li>Variable cash flow from operations</li>\n</ul>\n<p>Below are relevant financial results derived from the firm’s registration statement:</p>\n<p><img src=\"https://static.tigerbbs.com/3a4b8f665d53cacb759e02e61c0e0fac\" tg-width=\"610\" tg-height=\"616\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/7f24f3b6311e665efae356978c984a91\" tg-width=\"611\" tg-height=\"618\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/eeba7aa58d9c2188ca35f7d3ddbfd57a\" tg-width=\"610\" tg-height=\"620\" referrerpolicy=\"no-referrer\">As of June 30, 2021, a.k.a. Brands had $34.3 million in cash and $277.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p><b>IPO Details</b></p>\n<p>AKA intends to sell 13.9 million shares of common stock at a proposed midpoint price of $18.00 per share for gross proceeds of approximately $250 million, not including the sale of customary underwriter options.</p>\n<p>No existing shareholders have indicated an interest to purchase shares at the IPO price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO (ex- underwriter options) would approximate $2.3 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 10.72%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.</p>\n<p>Per the firm’s most recent regulatory filing, it plans to use the net proceeds as follows (in conjunction with a planned new senior secured credit facility):</p>\n<p><img src=\"https://static.tigerbbs.com/0b37cb842c1d92125dec5e45108e3378\" tg-width=\"1280\" tg-height=\"289\" referrerpolicy=\"no-referrer\"></p>\n<p>(Source)</p>\n<p>Management’s presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management believes that any legal claims against it would not be material to its operations or financial condition.</p>\n<p>Listed bookrunners of the IPO are BofA Securities, Credit Suisse, Jefferies and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm’s relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<p><img src=\"https://static.tigerbbs.com/83589d7d85d1719f3237ee2bc10b5d23\" tg-width=\"612\" tg-height=\"708\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Commentary</b></p>\n<p>AKA is going public to pay down debt and for its future expansion plans.</p>\n<p>AKS’ financials show sharply growing topline revenue and gross profit, increasing gross margin but uneven operating profit and margin and variable cash flow from operations</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was $28.7 million.</p>\n<p>Selling expenses as a percentage of total revenue have risen as revenue has increased and its Selling efficiency rate was stable at an impressive 2.3x.</p>\n<p>The market opportunity for selling fashionable clothing direct to consumer [DTC] aimed at younger demographics is large and expected to grow substantially in the years ahead.</p>\n<p>Being a mobile-first DTC firm, AKA is well-positioned to adjust to a market that is focused on using online, mobile-phone app purchase modalities.</p>\n<p>BofA Securities is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 11.5% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company’s outlook is the high rate of change in consumer tastes and preferences, which can make it challenging and costly to react to changes in a compressed time period.</p>\n<p>As for valuation, compared toa basketof publicly held Apparel companies complied by noted valuation expert Dr. Aswath Damodaran which as of January 2021 had an average EV/Sales multiple of 2.03x, AKA is seeking an EV/Revenue multiple of 5.03x.</p>\n<p>AKA is growing topline revenue sharply, in part due to its acquisition activities but its operating margin was 4.6% in the most recent six-month period versus the public basket of an average of 5.93%.</p>\n<p>So AKA is growing quickly through acquisition but has a lower operating margin than its public peers.</p>\n<p>However, I favor DTC companies for things like apparel, as the firm can adjust its offering much faster and more accurately as a result of its direct relationship with customers.</p>\n<p>Also, AKA’s mobile-first approach combined with DTC business model also positions the firm well for its target demographic of younger consumers.</p>\n<p>Although the IPO isn’t cheap, I believe AKA has significant room to grow and continue executing its business model approach, so the IPO is worth consideration.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AKA":"a.k.a. Brands Holding Corp."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1154932699","content_text":"(Sept 22) a.k.a. Brands Holding Corp. opens for trading at $9.5, down 13.64% from IPO price.\n\nCompany & Technology\nSan Francisco, California-based a.k.a. Brands was founded to develop a portfolio of digitally-focused, DTC consumer apparel and fashion brands with a global reach.\nManagement is headed by Chief Executive Officer Jill Ramsey, who has been with the firm since May 2020 and was previously Chief Product and Digital Revenue Officer at Macy's.\nThe company’s primary offerings include:\n\nPrincess Polly\nCulture Kings\nPetal & Pup\nRebdolls\n\nBelow is the a.k.a. platform as it currently stands:\na.k.a. Brands has received at least $330 million in equity investment from investors including New Excelerate, Beard Entities and Bryett Enterprises Trust.\nCustomer Acquisition\nThe company focuses its marketing efforts on Millennials and Gen Z consumers who 'seek fashion inspiration on social media and primarily shop online and via mobile devices.'\nSo, a.k.a. leverages its data to provide relevant social content and make other digital marketing strategy efforts to reach consumers directly online.\nSelling expenses as a percentage of total revenue have risen as revenues have increased, as the figures below indicate:\nThe Selling efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling spend, was stable in the most recent reporting period, as shown in the table below:\nFor a.k.a.’s largest property, Princess Polly, user engagement measured by average number of pages per visit on that website has remained relatively flat over the last two years, with a recent slight increase to a current blended average desktop/mobile of 7.28 pages per visit, as the chart shows below:\n\n(Source:Similarweb)\nAccording to a marketresearch reportby BlueCart, the global market for DTC (direct-to-consumer) sales is expected to reach $20 billion globally in 2021.\nThis represents a forecast potential increase of 15% over results in 2020.\nThe main drivers for this expected growth are an increase in consumer openness to hearing directly from manufacturers via online channels.\nAlso, there is a growing desire by businesses to gain an edge through greater data-driven insights stemming from direct relationships with their customers rather than working through 3rd party distributors and retail outlets.\nMajor competitive or other industry participants by type include:\n\nEcommerce companies\nIn-person stores\n\nFinancial Performance\na.k.a. Brands’ recent financial results can be summarized as follows (includes 55% stake in Culture Kings Group):\n\nSharply growing topline revenue\nGrowing gross profit\nIncreasing gross margin\nUneven operating profit and margin\nVariable cash flow from operations\n\nBelow are relevant financial results derived from the firm’s registration statement:\nAs of June 30, 2021, a.k.a. Brands had $34.3 million in cash and $277.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $28.7 million.\nIPO Details\nAKA intends to sell 13.9 million shares of common stock at a proposed midpoint price of $18.00 per share for gross proceeds of approximately $250 million, not including the sale of customary underwriter options.\nNo existing shareholders have indicated an interest to purchase shares at the IPO price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company’s enterprise value at IPO (ex- underwriter options) would approximate $2.3 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 10.72%. A figure under 10% is generally considered a ‘low float’ stock which can be subject to significant price volatility.\nPer the firm’s most recent regulatory filing, it plans to use the net proceeds as follows (in conjunction with a planned new senior secured credit facility):\n\n(Source)\nManagement’s presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management believes that any legal claims against it would not be material to its operations or financial condition.\nListed bookrunners of the IPO are BofA Securities, Credit Suisse, Jefferies and other investment banks.\nValuation Metrics\nBelow is a table of the firm’s relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\nCommentary\nAKA is going public to pay down debt and for its future expansion plans.\nAKS’ financials show sharply growing topline revenue and gross profit, increasing gross margin but uneven operating profit and margin and variable cash flow from operations\nFree cash flow for the twelve months ended June 30, 2021, was $28.7 million.\nSelling expenses as a percentage of total revenue have risen as revenue has increased and its Selling efficiency rate was stable at an impressive 2.3x.\nThe market opportunity for selling fashionable clothing direct to consumer [DTC] aimed at younger demographics is large and expected to grow substantially in the years ahead.\nBeing a mobile-first DTC firm, AKA is well-positioned to adjust to a market that is focused on using online, mobile-phone app purchase modalities.\nBofA Securities is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 11.5% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company’s outlook is the high rate of change in consumer tastes and preferences, which can make it challenging and costly to react to changes in a compressed time period.\nAs for valuation, compared toa basketof publicly held Apparel companies complied by noted valuation expert Dr. Aswath Damodaran which as of January 2021 had an average EV/Sales multiple of 2.03x, AKA is seeking an EV/Revenue multiple of 5.03x.\nAKA is growing topline revenue sharply, in part due to its acquisition activities but its operating margin was 4.6% in the most recent six-month period versus the public basket of an average of 5.93%.\nSo AKA is growing quickly through acquisition but has a lower operating margin than its public peers.\nHowever, I favor DTC companies for things like apparel, as the firm can adjust its offering much faster and more accurately as a result of its direct relationship with customers.\nAlso, AKA’s mobile-first approach combined with DTC business model also positions the firm well for its target demographic of younger consumers.\nAlthough the IPO isn’t cheap, I believe AKA has significant room to grow and continue executing its business model approach, so the IPO is worth consideration.","news_type":1,"symbols_score_info":{"AKA":0.9}},"isVote":1,"tweetType":1,"viewCount":2382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":860183472,"gmtCreate":1632145861596,"gmtModify":1676530710286,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"siao liao","listText":"siao liao","text":"siao liao","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/860183472","repostId":"1139071808","repostType":4,"repost":{"id":"1139071808","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632144660,"share":"https://ttm.financial/m/news/1139071808?lang=&edition=fundamental","pubTime":"2021-09-20 21:31","market":"us","language":"en","title":"U.S. stock market falls sharply lower early Monday","url":"https://stock-news.laohu8.com/highlight/detail?id=1139071808","media":"Tiger Newspress","summary":"(Sept 20) U.S. stocks began the week deeply in the red as investors continued to move to the sidelin","content":"<p>(Sept 20)&nbsp;U.S. stocks began the week deeply in the red as investors continued to move to the sidelines in September amid several emerging risks for the market.</p>\n<p>The Dow Jones Industrial average lost 580 points. The S&amp;P 500 fell 1.7%. Nasdaq 100 futures dropped 1.7%. If the declines hold after the open, the blue-chip Dow is set for its biggest one day drop since July 19, while the S&amp;P 500 is poised for their worst sell-off since May.</p>\n<p>VIX surged 20%. Airline stocks rally.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>U.S. stock market falls sharply lower early Monday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nU.S. stock market falls sharply lower early Monday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-20 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 20)&nbsp;U.S. stocks began the week deeply in the red as investors continued to move to the sidelines in September amid several emerging risks for the market.</p>\n<p>The Dow Jones Industrial average lost 580 points. The S&amp;P 500 fell 1.7%. Nasdaq 100 futures dropped 1.7%. If the declines hold after the open, the blue-chip Dow is set for its biggest one day drop since July 19, while the S&amp;P 500 is poised for their worst sell-off since May.</p>\n<p>VIX surged 20%. Airline stocks rally.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139071808","content_text":"(Sept 20) U.S. stocks began the week deeply in the red as investors continued to move to the sidelines in September amid several emerging risks for the market.\nThe Dow Jones Industrial average lost 580 points. The S&P 500 fell 1.7%. Nasdaq 100 futures dropped 1.7%. If the declines hold after the open, the blue-chip Dow is set for its biggest one day drop since July 19, while the S&P 500 is poised for their worst sell-off since May.\nVIX surged 20%. Airline stocks rally.","news_type":1,"symbols_score_info":{".SPX":0.9,".IXIC":0.9,".DJI":0.9,"SPY":0.9}},"isVote":1,"tweetType":1,"viewCount":2424,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":814980187,"gmtCreate":1630742475849,"gmtModify":1676530389090,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"i comment myself","listText":"i comment myself","text":"i comment myself","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/814980187","repostId":"2164803413","repostType":4,"isVote":1,"tweetType":1,"viewCount":683,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894489712,"gmtCreate":1628847520736,"gmtModify":1676529873656,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"first to comment!","listText":"first to comment!","text":"first to comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894489712","repostId":"2159962232","repostType":4,"repost":{"id":"2159962232","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1628846967,"share":"https://ttm.financial/m/news/2159962232?lang=&edition=fundamental","pubTime":"2021-08-13 17:29","market":"us","language":"en","title":"Investors storm into \"value trades\" as broader equity exuberance fades","url":"https://stock-news.laohu8.com/highlight/detail?id=2159962232","media":"Reuters","summary":"LONDON, Aug 13 (Reuters) - Investors have made a beeline into so-called \"value trades\", adding cash ","content":"<p>LONDON, Aug 13 (Reuters) - Investors have made a beeline into so-called \"value trades\", adding cash into European stocks and financial and material shares during the past week, BofA's weekly statistics showed on Friday.</p>\n<p>At $1.5 billion, Europe saw the biggest inflow in eight weeks while financial stocks saw a chunky $2.6 billion of inflows -- the largest in ten weeks -- the U.S. investment bank said.</p>\n<p>Global equity funds enjoyed inflows of $15.7 billion as private clients of the U.S. investment bank holding $3.2 trillion in assets increased their allocation to stocks to a record high of 65%.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors storm into \"value trades\" as broader equity exuberance fades</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\">\nInvestors storm into \"value trades\" as broader equity exuberance fades\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-08-13 17:29</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>LONDON, Aug 13 (Reuters) - Investors have made a beeline into so-called \"value trades\", adding cash into European stocks and financial and material shares during the past week, BofA's weekly statistics showed on Friday.</p>\n<p>At $1.5 billion, Europe saw the biggest inflow in eight weeks while financial stocks saw a chunky $2.6 billion of inflows -- the largest in ten weeks -- the U.S. investment bank said.</p>\n<p>Global equity funds enjoyed inflows of $15.7 billion as private clients of the U.S. investment bank holding $3.2 trillion in assets increased their allocation to stocks to a record high of 65%.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ISBC":"投资者银行"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2159962232","content_text":"LONDON, Aug 13 (Reuters) - Investors have made a beeline into so-called \"value trades\", adding cash into European stocks and financial and material shares during the past week, BofA's weekly statistics showed on Friday.\nAt $1.5 billion, Europe saw the biggest inflow in eight weeks while financial stocks saw a chunky $2.6 billion of inflows -- the largest in ten weeks -- the U.S. investment bank said.\nGlobal equity funds enjoyed inflows of $15.7 billion as private clients of the U.S. investment bank holding $3.2 trillion in assets increased their allocation to stocks to a record high of 65%.","news_type":1,"symbols_score_info":{"GCmain":0.9,"ISBC":0.9,"QMmain":0.9,"CLmain":0.9,"MGCmain":0.9}},"isVote":1,"tweetType":1,"viewCount":504,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171599441,"gmtCreate":1626748956683,"gmtModify":1703764430522,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"this is worrying","listText":"this is worrying","text":"this is worrying","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/171599441","repostId":"1169198995","repostType":4,"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181234032,"gmtCreate":1623395617926,"gmtModify":1704202452993,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"help to comment pls!","listText":"help to comment pls!","text":"help to comment pls!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/181234032","repostId":"1152092787","repostType":4,"isVote":1,"tweetType":1,"viewCount":394,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190995578,"gmtCreate":1620566194894,"gmtModify":1704345018618,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"comment please&nbsp;","listText":"comment please&nbsp;","text":"comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/190995578","repostId":"1106882084","repostType":4,"isVote":1,"tweetType":1,"viewCount":536,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":105226198,"gmtCreate":1620308094014,"gmtModify":1704341691883,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"please help comment!","listText":"please help comment!","text":"please help comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/105226198","repostId":"1123117067","repostType":4,"repost":{"id":"1123117067","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1620307918,"share":"https://ttm.financial/m/news/1123117067?lang=&edition=fundamental","pubTime":"2021-05-06 21:31","market":"us","language":"en","title":"Dow opens slightly higher after notching record close, S&P 500 is flat","url":"https://stock-news.laohu8.com/highlight/detail?id=1123117067","media":"Tiger Newspress","summary":"U.S. stocks held steady on Thursday as investors awaited Friday's highly anticipated jobs report.The","content":"<p>U.S. stocks held steady on Thursday as investors awaited Friday's highly anticipated jobs report.</p><p>The Dow Jones Industrial Average added 40 points after reaching a record closing high in the previous session. The S&amp;P 500 was little changed. The Nasdaq Composite dipped 0.5%.</p><p>The muted action in futures came despite a better-than-expected reading onjobless claims. First-time claims for unemployment insurance totaled 498,000 for the week ended March 1, hitting a fresh pandemic-era low and better than a Dow Jones estimate of 527,000.</p><p>The data came one day before April's jobs report is released on Friday.</p><p>\"Job growth has been strong and increasing for the past three months. April's employment numbers are expected to show another significant gain, as layoffs were down by one-sixth during the month,\" noted Brad McMillan, chief investment officer for Commonwealth Financial Network.</p><p>PayPal shares jumped 4% in premarket trading to lead tech names after the company posted better-than-expected earnings andsaid revenue last quarter surged 31%.</p><p>The Nasdaq Composite posted its fourth straight negative session on Wednesday for its longest daily losing streak since October. The tech-heavy index and S&amp;P 500 are each lower for the week. The Dow is on track to break a two-week losing streak.</p><p>However, Etsy tanked by 11% in early trading afterwarning that sales will slowas the pandemic boost wanes.</p><p>Shares of Gap, which have been popping in the past month along with other specialty retail as investors bet on a return to more in-person shopping, was higher again, up about 2% in early trading.</p><p>During Wednesday's session, the Dow gained 97 points to end at a new closing high. The 30-stock benchmark index also set a new intraday record after rising nearly 200 points at one point.</p><p>It's too early to say whether the early gains Thursday will mark a reversal in trend.</p><p>\"Technology sector earnings momentum relative to the broader market peaked in late May of 2020,\" said Keith Lerner, chief market strategist at Truist. \"Given that we expect the economy to grow well above trend this year and next, value stands to benefit. Indeed, when looking at the value indices, they are dominated by financials and tend to have greater exposure to economically-sensitive sectors that are more leveraged to an economic recovery.\"</p><p>The Russell 1000 Value index has gained 16% this year, while the Russell 1000 Growth index has advanced 5%.</p><p>However, he added that concerns still remain in the market. For one, federal stimulus packages have boosted growth, and at some point, the economy will have to return to organic growth.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dow opens slightly higher after notching record close, S&P 500 is flat</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDow opens slightly higher after notching record close, S&P 500 is flat\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-05-06 21:31</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stocks held steady on Thursday as investors awaited Friday's highly anticipated jobs report.</p><p>The Dow Jones Industrial Average added 40 points after reaching a record closing high in the previous session. The S&amp;P 500 was little changed. The Nasdaq Composite dipped 0.5%.</p><p>The muted action in futures came despite a better-than-expected reading onjobless claims. First-time claims for unemployment insurance totaled 498,000 for the week ended March 1, hitting a fresh pandemic-era low and better than a Dow Jones estimate of 527,000.</p><p>The data came one day before April's jobs report is released on Friday.</p><p>\"Job growth has been strong and increasing for the past three months. April's employment numbers are expected to show another significant gain, as layoffs were down by one-sixth during the month,\" noted Brad McMillan, chief investment officer for Commonwealth Financial Network.</p><p>PayPal shares jumped 4% in premarket trading to lead tech names after the company posted better-than-expected earnings andsaid revenue last quarter surged 31%.</p><p>The Nasdaq Composite posted its fourth straight negative session on Wednesday for its longest daily losing streak since October. The tech-heavy index and S&amp;P 500 are each lower for the week. The Dow is on track to break a two-week losing streak.</p><p>However, Etsy tanked by 11% in early trading afterwarning that sales will slowas the pandemic boost wanes.</p><p>Shares of Gap, which have been popping in the past month along with other specialty retail as investors bet on a return to more in-person shopping, was higher again, up about 2% in early trading.</p><p>During Wednesday's session, the Dow gained 97 points to end at a new closing high. The 30-stock benchmark index also set a new intraday record after rising nearly 200 points at one point.</p><p>It's too early to say whether the early gains Thursday will mark a reversal in trend.</p><p>\"Technology sector earnings momentum relative to the broader market peaked in late May of 2020,\" said Keith Lerner, chief market strategist at Truist. \"Given that we expect the economy to grow well above trend this year and next, value stands to benefit. Indeed, when looking at the value indices, they are dominated by financials and tend to have greater exposure to economically-sensitive sectors that are more leveraged to an economic recovery.\"</p><p>The Russell 1000 Value index has gained 16% this year, while the Russell 1000 Growth index has advanced 5%.</p><p>However, he added that concerns still remain in the market. For one, federal stimulus packages have boosted growth, and at some point, the economy will have to return to organic growth.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1123117067","content_text":"U.S. stocks held steady on Thursday as investors awaited Friday's highly anticipated jobs report.The Dow Jones Industrial Average added 40 points after reaching a record closing high in the previous session. The S&P 500 was little changed. The Nasdaq Composite dipped 0.5%.The muted action in futures came despite a better-than-expected reading onjobless claims. First-time claims for unemployment insurance totaled 498,000 for the week ended March 1, hitting a fresh pandemic-era low and better than a Dow Jones estimate of 527,000.The data came one day before April's jobs report is released on Friday.\"Job growth has been strong and increasing for the past three months. April's employment numbers are expected to show another significant gain, as layoffs were down by one-sixth during the month,\" noted Brad McMillan, chief investment officer for Commonwealth Financial Network.PayPal shares jumped 4% in premarket trading to lead tech names after the company posted better-than-expected earnings andsaid revenue last quarter surged 31%.The Nasdaq Composite posted its fourth straight negative session on Wednesday for its longest daily losing streak since October. The tech-heavy index and S&P 500 are each lower for the week. The Dow is on track to break a two-week losing streak.However, Etsy tanked by 11% in early trading afterwarning that sales will slowas the pandemic boost wanes.Shares of Gap, which have been popping in the past month along with other specialty retail as investors bet on a return to more in-person shopping, was higher again, up about 2% in early trading.During Wednesday's session, the Dow gained 97 points to end at a new closing high. The 30-stock benchmark index also set a new intraday record after rising nearly 200 points at one point.It's too early to say whether the early gains Thursday will mark a reversal in trend.\"Technology sector earnings momentum relative to the broader market peaked in late May of 2020,\" said Keith Lerner, chief market strategist at Truist. \"Given that we expect the economy to grow well above trend this year and next, value stands to benefit. Indeed, when looking at the value indices, they are dominated by financials and tend to have greater exposure to economically-sensitive sectors that are more leveraged to an economic recovery.\"The Russell 1000 Value index has gained 16% this year, while the Russell 1000 Growth index has advanced 5%.However, he added that concerns still remain in the market. For one, federal stimulus packages have boosted growth, and at some point, the economy will have to return to organic growth.","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":532,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":863480010,"gmtCreate":1632411826130,"gmtModify":1676530777374,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/863480010","repostId":"1159478468","repostType":4,"repost":{"id":"1159478468","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1632411695,"share":"https://ttm.financial/m/news/1159478468?lang=&edition=fundamental","pubTime":"2021-09-23 23:41","market":"us","language":"en","title":"EngageSmart opens for trading at $37, up about 43.6% from IPO price","url":"https://stock-news.laohu8.com/highlight/detail?id=1159478468","media":"Tiger Newspress","summary":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintr","content":"<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company</b></p>\n<p>Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p>\n<p>Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p>\n<p>The company's primary offerings include:</p>\n<ul>\n <li>SimplePractice - Wellness</li>\n <li>InvoiceCloud - Government, Utilities and Financial Services</li>\n <li>HealthPay24 - Healthcare</li>\n <li>DonorDrive - Non-profit and Corporate Fundraising</li>\n</ul>\n<p>EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p>\n<p>As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>32.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>33.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>43.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>1.1</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>1.3</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p>\n<p>ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Rule of 40</b></p></td>\n   <td><p><b>Calculation</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Recent Rev. Growth %</p></td>\n   <td><p>59%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>5%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>64%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p>\n<p>This represents a forecast CAGR of 12.65% from 2021 to 2026.</p>\n<p>The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p>\n<p>Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p>\n<p>Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p>\n<p><img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p>\n<ul>\n <li><p>IBM(NYSE:IBM)</p></li>\n <li><p>Microsoft(NASDAQ:MSFT)</p></li>\n <li><p>Nuance(NASDAQ:NUAN)</p></li>\n <li><p>Oracle(NYSE:ORCL)</p></li>\n <li><p>Salesforce(NYSE:CRM)</p></li>\n <li><p>Avaya(NYSE:AVYA)</p></li>\n <li><p>Calabrio</p></li>\n <li><p>Aspect Software</p></li>\n <li><p>Genesys</p></li>\n <li><p>Verint Systems(NASDAQ:VRNT)</p></li>\n <li><p>NICE Ltd.(NASDAQ:NICE)</p></li>\n <li><p>OpenText</p></li>\n <li><p>Pegasystems(NASDAQ:PEGA)</p></li>\n <li><p>Others</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>EngageSmart's recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Growing topline revenue</p></li>\n <li><p>Increasing gross profit and high gross margin</p></li>\n <li><p>Growing operating profit and net income</p></li>\n <li><p>Increasing cash flow from operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm's registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 99,171,000</p></td>\n   <td><p>58.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 146,557,000</p></td>\n   <td><p>77.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 82,432,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 73,673,000</p></td>\n   <td><p>61.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 108,964,000</p></td>\n   <td><p>89.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 57,591,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>74.29%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>74.35%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>69.86%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 5,001,000</p></td>\n   <td><p>5.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 648,000</p></td>\n   <td><p>0.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (50,398,000)</p></td>\n   <td><p>-61.1%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 274,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (6,678,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (53,598,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 12,044,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 19,645,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (1,427,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p>\n<p>New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p>\n<p>Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p>\n<blockquote>\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n</blockquote>\n<blockquote>\n Source: SEC\n</blockquote>\n<p>Management's presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p>\n<p>Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$3,862,956,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$3,656,695,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>21.09</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>19.96</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>377.37</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>9.04%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$24.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$25,236,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>0.65%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>58.59%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Metric</b></p></td>\n   <td><p><b>Nice Ltd.</b></p></td>\n   <td><p><b>EngageSmart</b></p></td>\n   <td><p><b>Variance</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>11.01</p></td>\n   <td><p>21.09</p></td>\n   <td><p>91.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>10.67</p></td>\n   <td><p>19.96</p></td>\n   <td><p>87.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>41.73</p></td>\n   <td><p>377.37</p></td>\n   <td><p>804.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$3.05</p></td>\n   <td><p>$0.00</p></td>\n   <td><p>-100.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>5.3%</p></td>\n   <td><p>58.59%</p></td>\n   <td><p>1003.34%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>(S-1/A andSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p>\n<p>The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p>\n<p>The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p>\n<p>As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p>\n<p>Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p>\n<p>Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EngageSmart opens for trading at $37, up about 43.6% from IPO price</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\">\nEngageSmart opens for trading at $37, up about 43.6% from IPO price\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-09-23 23:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>(Sept 23)&nbsp;<a href=\"https://laohu8.com/S/ESMT\">EngageSmart Inc.</a> opens for trading at $37, up about 43.6% from IPO price.</p>\n<p><img src=\"https://static.tigerbbs.com/835bc9b4ff09e761852f27f75743b887\" tg-width=\"898\" tg-height=\"550\" referrerpolicy=\"no-referrer\"></p>\n<p><b>Company</b></p>\n<p>Braintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.</p>\n<p>Management is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.</p>\n<p>The company's primary offerings include:</p>\n<ul>\n <li>SimplePractice - Wellness</li>\n <li>InvoiceCloud - Government, Utilities and Financial Services</li>\n <li>HealthPay24 - Healthcare</li>\n <li>DonorDrive - Non-profit and Corporate Fundraising</li>\n</ul>\n<p>EngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.</p>\n<p><b>Customer Acquisition</b></p>\n<p>The firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.</p>\n<p>As of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Expenses vs. Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Percentage</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>32.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>33.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>43.1%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Selling and Marketing</b></p></td>\n   <td><p><b>Efficiency Rate</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Multiple</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>1.1</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>1.3</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.</p>\n<p>ESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Rule of 40</b></p></td>\n   <td><p><b>Calculation</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Recent Rev. Growth %</p></td>\n   <td><p>59%</p></td>\n  </tr>\n  <tr>\n   <td><p>EBITDA %</p></td>\n   <td><p>5%</p></td>\n  </tr>\n  <tr>\n   <td><p>Total</p></td>\n   <td><p>64%</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>The firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.</p>\n<p><b>Market &amp; Competition</b></p>\n<p>According to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.</p>\n<p>This represents a forecast CAGR of 12.65% from 2021 to 2026.</p>\n<p>The main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.</p>\n<p>Also, a desire to reduce customer churn rate results in improved business financials and growing valuation.</p>\n<p>Below is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:</p>\n<p><img src=\"https://static.tigerbbs.com/f1066adb602d05e4e99630aacf61e1c5\" tg-width=\"1060\" tg-height=\"922\" referrerpolicy=\"no-referrer\">Major competitive or other industry participants include:</p>\n<ul>\n <li><p>IBM(NYSE:IBM)</p></li>\n <li><p>Microsoft(NASDAQ:MSFT)</p></li>\n <li><p>Nuance(NASDAQ:NUAN)</p></li>\n <li><p>Oracle(NYSE:ORCL)</p></li>\n <li><p>Salesforce(NYSE:CRM)</p></li>\n <li><p>Avaya(NYSE:AVYA)</p></li>\n <li><p>Calabrio</p></li>\n <li><p>Aspect Software</p></li>\n <li><p>Genesys</p></li>\n <li><p>Verint Systems(NASDAQ:VRNT)</p></li>\n <li><p>NICE Ltd.(NASDAQ:NICE)</p></li>\n <li><p>OpenText</p></li>\n <li><p>Pegasystems(NASDAQ:PEGA)</p></li>\n <li><p>Others</p></li>\n</ul>\n<p><b>Financial Performance</b></p>\n<p>EngageSmart's recent financial results can be summarized as follows:</p>\n<ul>\n <li><p>Growing topline revenue</p></li>\n <li><p>Increasing gross profit and high gross margin</p></li>\n <li><p>Growing operating profit and net income</p></li>\n <li><p>Increasing cash flow from operations</p></li>\n</ul>\n<p>Below are relevant financial results derived from the firm's registration statement:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Total Revenue</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Total Revenue</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 99,171,000</p></td>\n   <td><p>58.6%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 146,557,000</p></td>\n   <td><p>77.8%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 82,432,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Profit (Loss)</p></td>\n   <td><p>% Variance vs. Prior</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 73,673,000</p></td>\n   <td><p>61.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 108,964,000</p></td>\n   <td><p>89.2%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ 57,591,000</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Gross Margin</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Gross Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>74.29%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>74.35%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>69.86%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Operating Profit (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Operating Profit (Loss)</p></td>\n   <td><p>Operating Margin</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 5,001,000</p></td>\n   <td><p>5.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 648,000</p></td>\n   <td><p>0.4%</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (50,398,000)</p></td>\n   <td><p>-61.1%</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Net Income (Loss)</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Net Income (Loss)</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 274,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ (6,678,000)</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (53,598,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p><b>Cash Flow From Operations</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Period</p></td>\n   <td><p>Cash Flow From Operations</p></td>\n  </tr>\n  <tr>\n   <td><p>Six Mos. Ended June 30, 2021</p></td>\n   <td><p>$ 12,044,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2020</p></td>\n   <td><p>$ 19,645,000</p></td>\n  </tr>\n  <tr>\n   <td><p>2019</p></td>\n   <td><p>$ (1,427,000)</p></td>\n  </tr>\n  <tr></tr>\n  <tr>\n   <td><p>(Glossary Of Terms)</p></td>\n  </tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.</p>\n<p>Free cash flow during the twelve months ended June 30, 2021, was $25.2 million.</p>\n<p><b>IPO Details</b></p>\n<p>ESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.</p>\n<p>New potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.</p>\n<p>Assuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.</p>\n<p>Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.</p>\n<p>Per the firm's most recent regulatory filing, it plans to use the net proceeds as follows:</p>\n<blockquote>\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n</blockquote>\n<blockquote>\n Source: SEC\n</blockquote>\n<p>Management's presentation of the company roadshow isavailable here.</p>\n<p>Regarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.</p>\n<p>Listed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.</p>\n<p><b>Valuation Metrics</b></p>\n<p>Below is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Measure [TTM]</b></p></td>\n   <td><p><b>Amount</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Market Capitalization at IPO</p></td>\n   <td><p>$3,862,956,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Enterprise Value</p></td>\n   <td><p>$3,656,695,720</p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>21.09</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>19.96</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>377.37</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$0.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Float To Outstanding Shares Ratio</p></td>\n   <td><p>9.04%</p></td>\n  </tr>\n  <tr>\n   <td><p>Proposed IPO Midpoint Price per Share</p></td>\n   <td><p>$24.00</p></td>\n  </tr>\n  <tr>\n   <td><p>Net Free Cash Flow</p></td>\n   <td><p>$25,236,000</p></td>\n  </tr>\n  <tr>\n   <td><p>Free Cash Flow Yield Per Share</p></td>\n   <td><p>0.65%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>58.59%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>Source: SEC</p>\n<p>As a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:</p>\n<table>\n <colgroup></colgroup>\n <tbody>\n  <tr>\n   <td><p><b>Metric</b></p></td>\n   <td><p><b>Nice Ltd.</b></p></td>\n   <td><p><b>EngageSmart</b></p></td>\n   <td><p><b>Variance</b></p></td>\n  </tr>\n  <tr>\n   <td><p>Price / Sales</p></td>\n   <td><p>11.01</p></td>\n   <td><p>21.09</p></td>\n   <td><p>91.5%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / Revenue</p></td>\n   <td><p>10.67</p></td>\n   <td><p>19.96</p></td>\n   <td><p>87.1%</p></td>\n  </tr>\n  <tr>\n   <td><p>EV / EBITDA</p></td>\n   <td><p>41.73</p></td>\n   <td><p>377.37</p></td>\n   <td><p>804.3%</p></td>\n  </tr>\n  <tr>\n   <td><p>Earnings Per Share</p></td>\n   <td><p>$3.05</p></td>\n   <td><p>$0.00</p></td>\n   <td><p>-100.0%</p></td>\n  </tr>\n  <tr>\n   <td><p>Revenue Growth Rate</p></td>\n   <td><p>5.3%</p></td>\n   <td><p>58.59%</p></td>\n   <td><p>1003.34%</p></td>\n  </tr>\n  <tr></tr>\n </tbody>\n</table>\n<p>(S-1/A andSeeking Alpha)</p>\n<p><b>Commentary</b></p>\n<p>ESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.</p>\n<p>The firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.</p>\n<p>Free cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.</p>\n<p>Selling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.</p>\n<p>The company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.</p>\n<p>The market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.</p>\n<p>JPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.</p>\n<p>The primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.</p>\n<p>As for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.</p>\n<p>Also, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.</p>\n<p>Given the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ESMT":"EngageSmart Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1159478468","content_text":"(Sept 23) EngageSmart Inc. opens for trading at $37, up about 43.6% from IPO price.\n\nCompany\nBraintree, Massachusetts-based EngageSmart was founded to develop a platform that improves customer engagement tailored for certain industry verticals.\nManagement is headed by founder and CEO Robert P. Bennett, who has been with the firm since inception and was previously president of Sage Payment Solutions.\nThe company's primary offerings include:\n\nSimplePractice - Wellness\nInvoiceCloud - Government, Utilities and Financial Services\nHealthPay24 - Healthcare\nDonorDrive - Non-profit and Corporate Fundraising\n\nEngageSmart has received at least $451 million in equity investment from investors including General Atlantic and Summit Partners.\nCustomer Acquisition\nThe firm pursues both large enterprise customers and SMB customers via its direct sales force and online service.\nAs of June 30, 2021, the firm had served over 68,000 clients in the SMB market and more than 3,000 customers in its Enterprise Solutions segment.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenues have increased, as the figures below indicate:\n\n\n\n\nSelling and Marketing\nExpenses vs. Revenue\n\n\nPeriod\nPercentage\n\n\nSix Mos. Ended June 30, 2021\n32.4%\n\n\n2020\n33.1%\n\n\n2019\n43.1%\n\n\n\nSource: SEC\nThe Selling and Marketing efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of Selling and Marketing spend, dropped slightly to 1.1x in the most recent reporting period, as shown in the table below:\n\n\n\n\nSelling and Marketing\nEfficiency Rate\n\n\nPeriod\nMultiple\n\n\nSix Mos. Ended June 30, 2021\n1.1\n\n\n2020\n1.3\n\n\n\nSource: SEC\nThe Rule of 40 is a software industry rule of thumb that says that as long as the combined revenue growth rate and EBITDA percentage rate equal or exceed 40%, the firm is on an acceptable growth/EBITDA trajectory.\nESMT's most recent calculation was 64% as of June 30, 2021, so the firm is performing well in this regard, per the table below:\n\n\n\n\nRule of 40\nCalculation\n\n\nRecent Rev. Growth %\n59%\n\n\nEBITDA %\n5%\n\n\nTotal\n64%\n\n\n\nSource: SEC\nThe firm's dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe dollar-based net revenue retention rate metric measures how much additional revenue is generated over time from each cohort of customers, so that a figure over 100% means that the company is generating more revenue from the same customer cohort over time, indicating good product/market fit and efficient sales and marketing efforts.\nMarket & Competition\nAccording to a 2021 marketresearch reportby Mordor Intelligence, the global market for customer engagement solutions was an estimated $15.5 billion in 2020 and is forecast to reach $30.9 billion by 2026.\nThis represents a forecast CAGR of 12.65% from 2021 to 2026.\nThe main drivers for this expected growth are a growth in technology solutions to improve the customer journey via any device they use to connect with businesses.\nAlso, a desire to reduce customer churn rate results in improved business financials and growing valuation.\nBelow is a chart showing the variation in customer churn rates in different industries in the U.S. in 2018:\nMajor competitive or other industry participants include:\n\nIBM(NYSE:IBM)\nMicrosoft(NASDAQ:MSFT)\nNuance(NASDAQ:NUAN)\nOracle(NYSE:ORCL)\nSalesforce(NYSE:CRM)\nAvaya(NYSE:AVYA)\nCalabrio\nAspect Software\nGenesys\nVerint Systems(NASDAQ:VRNT)\nNICE Ltd.(NASDAQ:NICE)\nOpenText\nPegasystems(NASDAQ:PEGA)\nOthers\n\nFinancial Performance\nEngageSmart's recent financial results can be summarized as follows:\n\nGrowing topline revenue\nIncreasing gross profit and high gross margin\nGrowing operating profit and net income\nIncreasing cash flow from operations\n\nBelow are relevant financial results derived from the firm's registration statement:\n\n\n\n\nTotal Revenue\n\n\nPeriod\nTotal Revenue\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 99,171,000\n58.6%\n\n\n2020\n$ 146,557,000\n77.8%\n\n\n2019\n$ 82,432,000\n\n\n\nGross Profit (Loss)\n\n\nPeriod\nGross Profit (Loss)\n% Variance vs. Prior\n\n\nSix Mos. Ended June 30, 2021\n$ 73,673,000\n61.4%\n\n\n2020\n$ 108,964,000\n89.2%\n\n\n2019\n$ 57,591,000\n\n\n\nGross Margin\n\n\nPeriod\nGross Margin\n\n\nSix Mos. Ended June 30, 2021\n74.29%\n\n\n2020\n74.35%\n\n\n2019\n69.86%\n\n\n\nOperating Profit (Loss)\n\n\nPeriod\nOperating Profit (Loss)\nOperating Margin\n\n\nSix Mos. Ended June 30, 2021\n$ 5,001,000\n5.0%\n\n\n2020\n$ 648,000\n0.4%\n\n\n2019\n$ (50,398,000)\n-61.1%\n\n\n\nNet Income (Loss)\n\n\nPeriod\nNet Income (Loss)\n\n\nSix Mos. Ended June 30, 2021\n$ 274,000\n\n\n2020\n$ (6,678,000)\n\n\n2019\n$ (53,598,000)\n\n\n\nCash Flow From Operations\n\n\nPeriod\nCash Flow From Operations\n\n\nSix Mos. Ended June 30, 2021\n$ 12,044,000\n\n\n2020\n$ 19,645,000\n\n\n2019\n$ (1,427,000)\n\n\n\n(Glossary Of Terms)\n\n\n\nSource: SEC\nAs of June 30, 2021, EngageSmart had $31.8 million in cash and $151.8 million in total liabilities.\nFree cash flow during the twelve months ended June 30, 2021, was $25.2 million.\nIPO Details\nESMT intends to sell 13 million shares and selling shareholders will offer 1.55 million shares of common stock at a proposed midpoint price of $24.00 per share for gross proceeds of approximately $349 million, not including the sale of customary underwriter options.\nNew potential investor Dragoneer Investment Group has indicated an interest to purchase 2.1 million shares of the offering or about $50.4 million at the proposed midpoint price.\nAssuming a successful IPO at the midpoint of the proposed price range, the company's enterprise value at IPO (ex- underwriter options) would approximate $3.7 billion.\nExcluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 9.04%. A figure under 10% is generally considered a 'low float' stock which can be subject to significant price volatility.\nPer the firm's most recent regulatory filing, it plans to use the net proceeds as follows:\n\n We expect to use the net proceeds of this offering to repay in full the outstanding borrowings of approximately $114.2 million under our Credit Facilities. We currently intend to use the remaining net proceeds from this offering for general corporate purposes, including to fund our growth, acquire complementary businesses, products, services, or technologies, working capital, operating expenses, and capital expenditures.\n\n\n Source: SEC\n\nManagement's presentation of the company roadshow isavailable here.\nRegarding outstanding legal proceedings, management did not disclose any legal claims against the firm as of the regulatory filing date.\nListed underwriters of the IPO are JPMorgan, Goldman Sachs, BofA Securities, and other investment banks.\nValuation Metrics\nBelow is a table of the firm's relevant capitalization and valuation metrics at IPO, excluding the effects of underwriter options:\n\n\n\n\nMeasure [TTM]\nAmount\n\n\nMarket Capitalization at IPO\n$3,862,956,720\n\n\nEnterprise Value\n$3,656,695,720\n\n\nPrice / Sales\n21.09\n\n\nEV / Revenue\n19.96\n\n\nEV / EBITDA\n377.37\n\n\nEarnings Per Share\n$0.00\n\n\nFloat To Outstanding Shares Ratio\n9.04%\n\n\nProposed IPO Midpoint Price per Share\n$24.00\n\n\nNet Free Cash Flow\n$25,236,000\n\n\nFree Cash Flow Yield Per Share\n0.65%\n\n\nRevenue Growth Rate\n58.59%\n\n\n\n\nSource: SEC\nAs a reference, a potential public comparable would be NICE Ltd.; shown below is a comparison of their primary valuation metrics:\n\n\n\n\nMetric\nNice Ltd.\nEngageSmart\nVariance\n\n\nPrice / Sales\n11.01\n21.09\n91.5%\n\n\nEV / Revenue\n10.67\n19.96\n87.1%\n\n\nEV / EBITDA\n41.73\n377.37\n804.3%\n\n\nEarnings Per Share\n$3.05\n$0.00\n-100.0%\n\n\nRevenue Growth Rate\n5.3%\n58.59%\n1003.34%\n\n\n\n\n(S-1/A andSeeking Alpha)\nCommentary\nESMT is seeking public investment to pay down debt and for its general unspecified corporate growth plans.\nThe firm's financials show strong topline revenue growth and gross profit growth, operating profit and a swing to slight net profit along with growing cash flow from operations.\nFree cash flow for the twelve months ended June 30, 2021, was a solid $25.2 million.\nSelling and Marketing expenses as a percentage of total revenue have dropped as revenue has increased and its Selling and Marketing efficiency rate dropped to 1.1x in the most recent six-month reporting period.\nThe company's Rule of 40 performance was excellent and its dollar-based net revenue retention rate for the year ended December 31, 2020, was 124%, a strong result.\nThe market opportunity for providing customer engagement software to businesses is large and expected to double in size by the end of 2026, so the company will be helped by strong industry growth dynamics.\nJPMorgan is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 20.4% since their IPO. This is a mid-tier performance for all major underwriters during the period.\nThe primary risk to the company's outlook is the ability for larger firms to bundle some of their services into their existing offerings, resulting in downward pricing pressure and greater competition.\nAs for valuation, compared to partial competitor NICE, ESMT is growing revenue much faster and so its much higher revenue multiples would appear to be justified.\nAlso, the company is growing much faster than competitor Pegasystems, so seems to be taking market share from these and other companies in the customer engagement market.\nGiven the firm's strong growth and operating metrics versus its competitors, while the IPO isn't cheap, it is worth consideration.","news_type":1,"symbols_score_info":{"ESMT":0.9}},"isVote":1,"tweetType":1,"viewCount":2171,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":800403895,"gmtCreate":1627310380417,"gmtModify":1703487408860,"author":{"id":"3574053691106982","authorId":"3574053691106982","name":"jw321","avatar":"https://static.tigerbbs.com/1263b51c7856e75fbd5cf4072078ca6e","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3574053691106982","authorIdStr":"3574053691106982"},"themes":[],"htmlText":"fuelled","listText":"fuelled","text":"fuelled","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/800403895","repostId":"2154968104","repostType":4,"repost":{"id":"2154968104","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1627310192,"share":"https://ttm.financial/m/news/2154968104?lang=&edition=fundamental","pubTime":"2021-07-26 22:36","market":"us","language":"en","title":"Thoma Bravo to take software firm Medallia private for $6.4 bln","url":"https://stock-news.laohu8.com/highlight/detail?id=2154968104","media":"Reuters","summary":"July 26 (Reuters) - Enterprise software firm Medallia Inc said on Monday private equity firm Thoma B","content":"<p>July 26 (Reuters) - Enterprise software firm Medallia Inc&nbsp;said on Monday private equity firm Thoma Bravo would take the company private for $6.4 billion in cash.</p>\n<p>Medallia shareholders will receive $34 per share in cash, a premium of nearly 20% to the stock's close on June 10, the last trading day before media reports that the San-Francisco based company was mulling a potential sale boosted the stock price.</p>\n<p>Medallia, the customer survey software provider, that went public over just two years ago, competes with the likes of Survey Monkey and Qualtrics.</p>\n<p>Thoma Bravo is <a href=\"https://laohu8.com/S/AONE.U\">one</a> the largest software-focused private equity firms with more than $78 billion in assets under management. Its portfolio companies include information technology services provider <a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a> and cybersecurity firm McAfee Corp.</p>\n<p>Medallia's deal with Thoma Bravo, which is expected to close this year, also includes a 40-day \"go-shop\" period wherein the company can consider alternative deals.</p>\n<p>Blackstone Credit along with some funds managed by Apollo Capital Management and KKR Credit will provide debt financing for the deal.</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> &amp; Co, BoFA Securities and Wells Fargo Securities served as the financial advisers to Medallia.</p>\n<p>Medallia shares were up 1.2% in premarket trading.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Thoma Bravo to take software firm Medallia private for $6.4 bln</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\">\nThoma Bravo to take software firm Medallia private for $6.4 bln\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-07-26 22:36</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>July 26 (Reuters) - Enterprise software firm Medallia Inc&nbsp;said on Monday private equity firm Thoma Bravo would take the company private for $6.4 billion in cash.</p>\n<p>Medallia shareholders will receive $34 per share in cash, a premium of nearly 20% to the stock's close on June 10, the last trading day before media reports that the San-Francisco based company was mulling a potential sale boosted the stock price.</p>\n<p>Medallia, the customer survey software provider, that went public over just two years ago, competes with the likes of Survey Monkey and Qualtrics.</p>\n<p>Thoma Bravo is <a href=\"https://laohu8.com/S/AONE.U\">one</a> the largest software-focused private equity firms with more than $78 billion in assets under management. Its portfolio companies include information technology services provider <a href=\"https://laohu8.com/S/SWI\">SolarWinds Corp</a> and cybersecurity firm McAfee Corp.</p>\n<p>Medallia's deal with Thoma Bravo, which is expected to close this year, also includes a 40-day \"go-shop\" period wherein the company can consider alternative deals.</p>\n<p>Blackstone Credit along with some funds managed by Apollo Capital Management and KKR Credit will provide debt financing for the deal.</p>\n<p><a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> &amp; Co, BoFA Securities and Wells Fargo Securities served as the financial advisers to Medallia.</p>\n<p>Medallia shares were up 1.2% in premarket trading.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MDLA":"Medallia, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154968104","content_text":"July 26 (Reuters) - Enterprise software firm Medallia Inc said on Monday private equity firm Thoma Bravo would take the company private for $6.4 billion in cash.\nMedallia shareholders will receive $34 per share in cash, a premium of nearly 20% to the stock's close on June 10, the last trading day before media reports that the San-Francisco based company was mulling a potential sale boosted the stock price.\nMedallia, the customer survey software provider, that went public over just two years ago, competes with the likes of Survey Monkey and Qualtrics.\nThoma Bravo is one the largest software-focused private equity firms with more than $78 billion in assets under management. Its portfolio companies include information technology services provider SolarWinds Corp and cybersecurity firm McAfee Corp.\nMedallia's deal with Thoma Bravo, which is expected to close this year, also includes a 40-day \"go-shop\" period wherein the company can consider alternative deals.\nBlackstone Credit along with some funds managed by Apollo Capital Management and KKR Credit will provide debt financing for the deal.\nMorgan Stanley & Co, BoFA Securities and Wells Fargo Securities served as the financial advisers to Medallia.\nMedallia shares were up 1.2% in premarket trading.","news_type":1,"symbols_score_info":{"MDLA":0.9}},"isVote":1,"tweetType":1,"viewCount":382,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}