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EdwardSeng

EdwardSeng

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2021-08-05

So, since short term not in advantage. Trader might invest slowly for long term benefit aswell play on mid term trading hit and run strategy.

Sorry, the original content has been removed

2021-05-21

It restricted Hongkongees for getting rich. lol [Miser]

Sorry, the original content has been removed

2021-04-29

The Good of the stock, The Bad of the pricing now and the Ugly chart we are facing now. Haha!!

Sorry, the original content has been removed

2021-04-26

Avoiding Taxes, profitable companies might investing into bitcoin Crypto.

Sorry, the original content has been removed

2021-04-23

Quality and Capability are much more important for the right position other than warming up those seat.

Singapore Names Wong as New Finance Minister in Cabinet Shake-Up

2021-04-23

Nothing right or wrong, It’s the duty for the President do and plan for a better shape and advance for the country American. It’s time for those wealthiest rich for contributing back to the nation. No offencing, please !!

Sorry, the original content has been removed

2021-04-22

Good news, it encourage Tesla for working out better and increase benefits for shareholders confidence and trust for this company.Time for buy !!!

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2021-04-21

Drop which is your opportunity, Up which is your fortune. Lol

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2021-04-19

GameStop should change name as Non-Stop. Lol.

GameStop jumped 8% in Monday morning trading

2021-04-13

Think and reality are so much different. Who ever also can think the bull can climb up to the Sky. Just be realistic and trade along with the trend.

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2021-04-12

Nobody will know, only can mind prediction from chart and nowhere. Just need to keep ourselves in mind, trade with CARE !!

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2021-04-11

Radar detected, Buy.... let it break the all Time high 12.30 and fly high. Vested !!

2021-04-09

Just give out special dividend, Please !! Lol

ARKK's $50 Billion Problem

2021-04-09

Under my radar detected.

2021-04-09

Time for rotations play, Take profit on Singapore and vest onto S&P

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2021-04-09

Time will tell.

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2021-04-08

Crush provides opportunity too, Buy at dip.

NIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.

2021-04-08

Buy, This cannot be miss when economy pick up. Buy at cheap before it ran.

2021-04-08

$Greenwich Lifesciences Inc(GLSI)$More to come.

2021-04-02

Personally I believe that it will keep consolidation from 30,000 to 33,000 till year end 2022 before having a crashing take place.

How Likely Is a Stock Market Crash?

Go to Tiger App to see more news

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Trader might invest slowly for long term benefit aswell play on mid&nbsp;term trading hit and run strategy.","listText":"So, since short term not in advantage. Trader might invest slowly for long term benefit aswell play on mid&nbsp;term trading hit and run strategy.","text":"So, since short term not in advantage. Trader might invest slowly for long term benefit aswell play on mid term trading hit and run strategy.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/899888166","repostId":"1175346944","repostType":4,"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139382727,"gmtCreate":1621592651469,"gmtModify":1704360206949,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"It restricted Hongkongees for getting rich. lol [Miser]&nbsp;","listText":"It restricted Hongkongees for getting rich. lol [Miser]&nbsp;","text":"It restricted Hongkongees for getting rich. lol [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139382727","repostId":"2137903089","repostType":4,"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":109985423,"gmtCreate":1619659290762,"gmtModify":1704727524350,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"The Good of the stock, The Bad of the pricing now and the Ugly chart we are facing now. Haha!!","listText":"The Good of the stock, The Bad of the pricing now and the Ugly chart we are facing now. Haha!!","text":"The Good of the stock, The Bad of the pricing now and the Ugly chart we are facing now. Haha!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/109985423","repostId":"1155904518","repostType":2,"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374859868,"gmtCreate":1619440018154,"gmtModify":1704723863289,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Avoiding Taxes, profitable companies might investing into bitcoin Crypto.","listText":"Avoiding Taxes, profitable companies might investing into bitcoin Crypto.","text":"Avoiding Taxes, profitable companies might investing into bitcoin Crypto.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/374859868","repostId":"1168057784","repostType":4,"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372985766,"gmtCreate":1619168409055,"gmtModify":1704720693618,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Quality and Capability are much more important for the right position other than warming up those seat.","listText":"Quality and Capability are much more important for the right position other than warming up those seat.","text":"Quality and Capability are much more important for the right position other than warming up those seat.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/372985766","repostId":"1143062408","repostType":4,"repost":{"id":"1143062408","pubTimestamp":1619162341,"share":"https://ttm.financial/m/news/1143062408?lang=&edition=fundamental","pubTime":"2021-04-23 15:19","market":"sg","language":"en","title":"Singapore Names Wong as New Finance Minister in Cabinet Shake-Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1143062408","media":"Bloomberg","summary":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his ","content":"<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.</p>\n<p>The appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.</p>\n<p>Since founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.</p>\n<p>Though no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the&nbsp;deputy prime minister role&nbsp;to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.</p>\n<p><b>Covid Leadership</b></p>\n<p>Wong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.</p>\n<p>“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.</p>\n<p>Known for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.</p>\n<p>Before his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.</p>\n<p>Wong began his career as a civil servant, later serving as chief executive of the&nbsp;Energy Market Authority&nbsp;and as principal private secretary to Lee.</p>\n<p>Here are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:</p>\n<ul>\n <li>Gan Kim Yong will be trade and industry minister</li>\n <li>S. Iswaran will be transport minister</li>\n <li>Chan Chun Sing will be education minister</li>\n <li>Ong Ye Kung will be health minister</li>\n <li>Josephine Teo will be communications and information minister, and continue as second minister for home affairs</li>\n <li>Tan See Leng will be manpower minister</li>\n</ul>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Names Wong as New Finance Minister in Cabinet Shake-Up</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\">\nSingapore Names Wong as New Finance Minister in Cabinet Shake-Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 15:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143062408","content_text":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.\nSince founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.\nThough no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the deputy prime minister role to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.\nCovid Leadership\nWong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.\n“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.\nKnown for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.\nBefore his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.\nWong began his career as a civil servant, later serving as chief executive of the Energy Market Authority and as principal private secretary to Lee.\nHere are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:\n\nGan Kim Yong will be trade and industry minister\nS. Iswaran will be transport minister\nChan Chun Sing will be education minister\nOng Ye Kung will be health minister\nJosephine Teo will be communications and information minister, and continue as second minister for home affairs\nTan See Leng will be manpower minister","news_type":1},"isVote":1,"tweetType":1,"viewCount":289,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"content":"None of the G4 Qualify, Only Tharman are the best candidate. I believe majority of our Singaporeans love to pick him as one.","text":"None of the G4 Qualify, Only Tharman are the best candidate. I believe majority of our Singaporeans love to pick him as one.","html":"None of the G4 Qualify, Only Tharman are the best candidate. I believe majority of our Singaporeans love to pick him as one."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376712440,"gmtCreate":1619148510180,"gmtModify":1704720396844,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Nothing right or wrong, It’s the duty for the President do and plan for a better shape and advance for the country American. It’s time for those wealthiest rich for contributing back to&nbsp;the nation. No offencing, please !!","listText":"Nothing right or wrong, It’s the duty for the President do and plan for a better shape and advance for the country American. It’s time for those wealthiest rich for contributing back to&nbsp;the nation. No offencing, please !!","text":"Nothing right or wrong, It’s the duty for the President do and plan for a better shape and advance for the country American. It’s time for those wealthiest rich for contributing back to the nation. No offencing, please !!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376712440","repostId":"1141178573","repostType":4,"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376007604,"gmtCreate":1619066993908,"gmtModify":1704719135754,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Good news, it encourage Tesla for working out better and increase benefits for shareholders confidence and trust for this company.Time for buy !!!","listText":"Good news, it encourage Tesla for working out better and increase benefits for shareholders confidence and trust for this company.Time for buy !!!","text":"Good news, it encourage Tesla for working out better and increase benefits for shareholders confidence and trust for this company.Time for buy !!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376007604","repostId":"1143508710","repostType":4,"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378854514,"gmtCreate":1619017593638,"gmtModify":1704718421610,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Drop which is your opportunity, Up which is your fortune. Lol","listText":"Drop which is your opportunity, Up which is your fortune. Lol","text":"Drop which is your opportunity, Up which is your fortune. Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378854514","repostId":"1114709501","repostType":4,"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373296204,"gmtCreate":1618846771308,"gmtModify":1704715869119,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"GameStop should change name as Non-Stop. &nbsp; &nbsp; Lol.","listText":"GameStop should change name as Non-Stop. &nbsp; &nbsp; Lol.","text":"GameStop should change name as Non-Stop. Lol.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373296204","repostId":"1195602008","repostType":4,"repost":{"id":"1195602008","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":1618839329,"share":"https://ttm.financial/m/news/1195602008?lang=&edition=fundamental","pubTime":"2021-04-19 21:35","market":"us","language":"en","title":"GameStop jumped 8% in Monday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1195602008","media":"Tiger Newspress","summary":"GameStop jumped 8% in Monday morning trading.GameStop CEO George Sherman will step down effective Ju","content":"<p>GameStop jumped 8% in Monday morning trading.</p><p><img src=\"https://static.tigerbbs.com/5668d0fb5af0448cacc5bceba5068277\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>GameStop CEO George Sherman&nbsp;will step down effective July 31, or earlier if a successor is found before then. The company said in a Securities and Exchange Commission filing that it has been evaluating executive leadership to make sure it is suitable for a changing business landscape. Separately, Keith Gill, the man known as “Roaring Kitty,” exercised options to buy 50,000 more shares of the video game retailer at a strike price of $12 per share, according to a Bloomberg report. Gill now holds 200,000 GameStop shares.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop jumped 8% in Monday morning 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\">\nGameStop jumped 8% in Monday morning 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\">2021-04-19 21:35</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>GameStop jumped 8% in Monday morning trading.</p><p><img src=\"https://static.tigerbbs.com/5668d0fb5af0448cacc5bceba5068277\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>GameStop CEO George Sherman&nbsp;will step down effective July 31, or earlier if a successor is found before then. The company said in a Securities and Exchange Commission filing that it has been evaluating executive leadership to make sure it is suitable for a changing business landscape. Separately, Keith Gill, the man known as “Roaring Kitty,” exercised options to buy 50,000 more shares of the video game retailer at a strike price of $12 per share, according to a Bloomberg report. Gill now holds 200,000 GameStop shares.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195602008","content_text":"GameStop jumped 8% in Monday morning trading.GameStop CEO George Sherman will step down effective July 31, or earlier if a successor is found before then. The company said in a Securities and Exchange Commission filing that it has been evaluating executive leadership to make sure it is suitable for a changing business landscape. Separately, Keith Gill, the man known as “Roaring Kitty,” exercised options to buy 50,000 more shares of the video game retailer at a strike price of $12 per share, according to a Bloomberg report. Gill now holds 200,000 GameStop shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345181324,"gmtCreate":1618287629068,"gmtModify":1704708633042,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Think and reality are so much different. Who ever also&nbsp;can think the bull can climb up to the Sky. Just be realistic and trade along with the trend.","listText":"Think and reality are so much different. Who ever also&nbsp;can think the bull can climb up to the Sky. Just be realistic and trade along with the trend.","text":"Think and reality are so much different. Who ever also can think the bull can climb up to the Sky. Just be realistic and trade along with the trend.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/345181324","repostId":"1140705302","repostType":4,"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342822470,"gmtCreate":1618201079690,"gmtModify":1704707433536,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Nobody will know, only can mind prediction from chart and nowhere. Just need to keep ourselves in mind, trade with CARE !!","listText":"Nobody will know, only can mind prediction from chart and nowhere. Just need to keep ourselves in mind, trade with CARE !!","text":"Nobody will know, only can mind prediction from chart and nowhere. Just need to keep ourselves in mind, trade with CARE !!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342822470","repostId":"2126035702","repostType":4,"isVote":1,"tweetType":1,"viewCount":112,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342029576,"gmtCreate":1618132299195,"gmtModify":1704706882956,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Radar detected,&nbsp;Buy.... let it break the all Time high 12.30 and fly high. Vested !!","listText":"Radar detected,&nbsp;Buy.... let it break the all Time high 12.30 and fly high. Vested !!","text":"Radar detected, Buy.... let it break the all Time high 12.30 and fly high. Vested !!","images":[{"img":"https://static.tigerbbs.com/19654dfb336ea8658c345cb95ba2ee11","width":"1125","height":"2857"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342029576","isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":346965697,"gmtCreate":1617981098619,"gmtModify":1704705658948,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Just give out special dividend, Please !! Lol&nbsp;","listText":"Just give out special dividend, Please !! Lol&nbsp;","text":"Just give out special dividend, Please !! Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346965697","repostId":"1119761514","repostType":4,"repost":{"id":"1119761514","pubTimestamp":1617958209,"share":"https://ttm.financial/m/news/1119761514?lang=&edition=fundamental","pubTime":"2021-04-09 16:50","market":"us","language":"en","title":"ARKK's $50 Billion Problem","url":"https://stock-news.laohu8.com/highlight/detail?id=1119761514","media":"seekingalpha","summary":"Summary\n\nARKK has been one of the most successful ETFs in recent years.\nSuccess brings its own set o","content":"<p><b>Summary</b></p>\n<ul>\n <li>ARKK has been one of the most successful ETFs in recent years.</li>\n <li>Success brings its own set of challenges, namely rising assets under management.</li>\n <li>Few investment managers are able to effectively manage the amount of money that has flown to ARKK these past few months. I'm not sure that ARKK itself can do so.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c42bac5d199f39bef07dcc2bc98b69f0\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Igor Kutyaev/iStock via Getty Images</span></p>\n<p>The ARK Innovation ETF (ARKK) has been one of the best-performing ETFs these past few years, due to a strong management team, and an outstanding investment strategy. Said strategy focuses on disruptive innovators, or companies developing highly innovative products with the potential for market-beating returns. ARKK's success has led to ballooning assets under management, which threaten the viability of the fund's investment strategy.</p>\n<p>ARKK has too much money, and nowhere to put it.</p>\n<p>Few asset managers can successfully manage tens of billions, none can match the triple-digit returns ARKK accomplished in the past. ARKK's investment managers will be/have been forced to pivot their strategy towards managing a portfolio of large-cap tech stocks and similar, hopefully achieving some incremental returns or alpha. Few asset managers have successfully managed similar pivots in the past, so I'm concerned about ARKK's capacity to do so.</p>\n<p>In my opinion, ARKK is no longer a compelling investment opportunity. Risks are still sky-high but potential returns are much lower, albeit still quite high. As such, I'm currently neutral about the fund.</p>\n<p><b>Peter Lynch and the Magellan Fund</b></p>\n<p>Let's start with a quick history lesson. I think it will prove instructive.</p>\n<p>Before Cathie Wood and ARKK there was Peter Lynch and the Fidelity Magellan Fund.</p>\n<p>Lynch's strategy as fund manager was quite different from that employed by ARKK. Lynch focused on more traditional large-cap U.S. equities, think General Electric (GE) or Philip Morris(NYSE:PM), and coined the phrase<i>invest in what you know</i>, which summarizes his investment philosophy. Lynch's performance track record was, however, similar to that of ARKK. Under Lynch's watch, the Magellan Fund consistently outperformed the S&amp;P 500 by double-digits, with annual returns of over 29%:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e9fcf03b6b8ccbe8c49654cebd638959\" tg-width=\"527\" tg-height=\"405\"><span>Source: Yahoo.com - Chart by author</span></p>\n<p>The above downplays Lynch's performance. Consistent double-digit annual outperformance compounds very, very quickly, leading to eye-watering returns. During Lynch's fourteen-year tenure at the fund, investors saw their investments multiply&nbsp;<b>25</b>&nbsp;times in value, compared to about 5.5 times for the S&amp;P 500. Extremely few investment managers have achieved comparable results.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5e02cdfb88d7c904d3f0bdf833b30dae\" tg-width=\"481\" tg-height=\"289\"><span>Source: Yahoo.com - Chart by author</span></p>\n<p>Compared to ARKK, returns were somewhat lower, but much more consistent, owing to Lynch's highly diversified portfolios.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0b1eb89ef2fa0e4d216260ca53133631\" tg-width=\"640\" tg-height=\"476\"><span>Source: ARKK Corporate Website</span></p>\n<p>As returns grew so did assets under management, as investors, understandably, sought to profit from Lynch's success. Under his tenure, AUM grew from $18 million to $14 billion. Magellan became the largest investment fund in the world, and Fidelity earned a lot in fees:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/fc1991d9fc3b4f7c987fcb4589775268\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Magellan was incredibly successful. Too successful, in fact.</p>\n<p>As AUMs grew Lynch and his team had issues generating alpha. There are only so many mispriced stocks out there, plus large funds have to take care not to move markets as they enter or exit positions. Take a look at Magellan's yearly returns above, and you'll see that outperformance decreased after 1986, when AUMs reached $4 billion. The fund also underperformed during 1987 and 1990, after, and only after, it had grown in size. Consistent double-digit outperformance and returns were easy when the fund had a billion or two in assets, more difficult when these grew to the tens of billions.</p>\n<p>Assets continued to grow. Alpha became ever more difficult to find. Management grew weary. By 1997, Fidelity decided to close the Magellan Fund to new investors, in the hopes that lower, more stable AUMs would lead to sustainable long-term alpha. AUMs stabilized, but the fund never managed to consistently outperform again:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/483a8bd392efc3391e6d930018cddd57\" tg-width=\"635\" tg-height=\"419\"><span>Data by YCharts</span></p>\n<p>Magellan was, ultimately, a victim of its own success, although Lynch left the firm and the fund before that happened. Perhaps he saw the writing on the wall, although I'm guessing he thought he could earn more money on his own.</p>\n<p>Other investment managers, including Warren Buffett, have had similar issues to Lynch, and most are quite forthcoming about the issues with managing large amounts of money.</p>\n<p>Which brings me to Wood and ARKK.</p>\n<p>ARKK started out in late 2014 as a small, niche innovation fund. AUMs were quite low at first, started to grow in 2017, and reached a respectable $1.86 billion by 2020:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6c18aed663d62ec32e1965f0831b7a16\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Returns were lackluster at first, but started to improve during 2017, preceding AUM growth:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0f52d824415fff6d263a510a2b003b7d\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>Then the coronavirus pandemic hit, causing a rotation towards tech and tech-adjacent stocks. ARKK was well-positioned to take advantage of these trends. The fund was heavily invested in industries like fintech and biotech, both of which saw increased revenues, earnings, share prices and valuations during the pandemic. Returns skyrocketed to triple-digits, with the fund significantly outperforming the market:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/34c4c7d712147eedfe1ca64c47009a04\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>AUMs grew even faster, with the fund ballooning from less than 2 billion to over 24 billion in just over a year. Collective, actively-managed ARKK funds hold over $50 billion in assets:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27b509641ebe8e6dcea150a0c02ce5e1\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>Asset growth has, however, coincided with lower returns. The fund is down more than 18% since AUMs peaked at over $25 billion:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b543438ea47c45a87a52d866239ba7aa\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>The stories seem awfully familiar.</p>\n<p>As should be clear from the above, I believe that what happened to the Magellan Fund could happen to ARKK.</p>\n<p>There is precedent for large funds to underperform. It is extremely difficult to generate alpha at scale. Most asset managers are simply unable to do so. Wood and ARKK could be the exceptions, but exceptions are rare, and investors shouldn't assume that ARKK will be one.</p>\n<p>Most of my thoughts and concerns with size are simply due to the historical precedent, hence the analysis of Lynch and Magellan. Still, I think that a close look at ARKK's strategy can help explain why size could be such a drag on the fund's performance. Let's have a look.</p>\n<p><b>ARKK Strategy Analysis</b></p>\n<p>ARKK's strategy is quite simple. The company invests in disruptive innovators, or companies developing technologies with the potential for significant world-altering effects. ARKK first selects innovation themes, basically highly innovative industries, and then selects appropriate stocks from these. I covered the fund's strategy in more depthhere.</p>\n<p>These are ARKK's ten largest holdings in January 2020, before the pandemic, and before their explosive growth.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c9bb0ea10ffad2b4c664a7fef70eecc3\" tg-width=\"640\" tg-height=\"235\"><span>Source: ARKK Corporate Website - Chart by author</span></p>\n<p>As can be seen above, the average ARKK holding was a small company, with a market cap below $5 billion, little in revenues or earnings, but the potential for strong revenue growth and outsized gains. The typical company was something like Crispr (CRSP), which develops gene-editing technology, or Invitae (NVTA), which develops genetic testing equipment. ARKK's job was to separate the wheat from the chaff. You want the innovative companies, you don't want the \"frauds\" like Theranos. As these are small companies, ARKK generally held a sizable percentage of their market cap. Low single digits was common, rising to double-digits for a few of the smaller names.</p>\n<p>ARKK also had large investments in mid-cap stocks like Square (SQ) and Illumina (ILMN). These were all relatively large companies, but with a strong growth pathway, and have all performed reasonably well.</p>\n<p>ARKK's largest, most controversial, and sole large-cap stake was in Tesla (TSLA). The fund's managers had identified the company as a key player in the burgeoning electric vehicle industry, and thought it offered the strongest potential returns in the entire equities market. They were right.</p>\n<p>The strategy and holdings above were very effective and profitable in the past, but shouldn't work as well as AUMs grow. This is the case for three key reasons.</p>\n<p>First, is the simple fact that a large fund can't effectively focus on small-cap stocks, there are only so many of these, and not enough for a fund with tens of billions in AUMs. As an example, ARKK had $86 million invested in CRISPR last year. For a $2 billion fund, that is a sizable investment. For a $20 billion fund, that is basically peanuts, equivalent to less than 0.5% of its holdings. It is impossible to build a high-conviction actively-managed portfolio in a very niche industry if you need hundreds of holdings, so ARKK will simply dump this aspect of its erstwhile successful investment strategy.</p>\n<p>Looking at ARKK's current largest holdings, it seems that the above is the case:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f936d1dd0ed83b4f7d7c694b9af2279c\" tg-width=\"640\" tg-height=\"186\"><span>Source: ARKK Corporate Website - Chart by author</span></p>\n<p>As can be seen above, ARKK now invests more heavily into larger corporations, with an average market capitalization of $128 billion. ARKK does a similar, more in-depth, calculation of the above, and arrives at a similar (outdated) figure:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0c25a8ce3bca2b5765b34f9450feaf13\" tg-width=\"418\" tg-height=\"601\"><span>Source: ARKK Corporate Website - Chart by author</span></p>\n<p>As can be seen above, the average ARKK holding is a $122 billion corporation, quite close to Tesla's market cap last year. I think this is very telling. Tesla was the only large-cap stock ARKK's management team felt was significantly undervalued last year. Today, most of their investments are in companies like Tesla circa 2020. Did management change their perspective on these stocks, or were they forced into large-cap stocks due to rising AUMs? In my opinion, it is definitely the latter, which bodes negatively for the fund's long-term returns.</p>\n<p>Second, is the fact that insofar as ARKK<i>does</i>invest in small-cap names, the fund is forced into holding a significant portion of their float. ARKK and its sister funds own more than 10% of 29 companies, and over 25% of three:</p>\n<p><img src=\"https://static.tigerbbs.com/24db7e3904a14f5b916448f2bcdb021c\" tg-width=\"640\" tg-height=\"245\"></p>\n<p>In most cases, ARK is the biggest institutional investor of these stocks.</p>\n<p>It is very, very difficult to enter or exit into positions of these sizes. In most cases there is simply no buyer for, say, 29% of a stock like Compugen, at least not on a moment's notice. At the same time, in the vast majority of cases you can't enter or exit into a position like this without the market moving against you. Buying a 29% stake in a company will almost always mean the price of the stock increases, selling should have the opposite effect. In simple terms, ARKK is likely being forced to buy high and sell low, a dreadful combination.</p>\n<p>Third, and related to the above, is the fact that holding large stakes in small-cap stocks could prove ruinous if the fund is forced to sell its assets due to investor outflows.</p>\n<p>Let's go through a simple example to show what I mean. During the last week of February, ARKK suffered outflows of about $638 million, equivalent to about 2.7% of the value of the fund. Other ARK funds suffered similar outflows:</p>\n<p><img src=\"https://static.tigerbbs.com/ca89fe18ba14ce75565bd56bbef25abf\" tg-width=\"640\" tg-height=\"371\"></p>\n<p>ARK funds collectively hold 29% of CGEN, or42% of its float:</p>\n<p><img src=\"https://static.tigerbbs.com/449620cc1b39a874a1f0db2ce3a1785f\" tg-width=\"640\" tg-height=\"251\"></p>\n<p>Assume ARKK sold 2.7% of all of its stocks to fund that outflow, that would mean that the company would be forced to sell about 660,000 shares. Volume&nbsp;averages 1,300,000 shares, which means that ARKK selling would constitute 50% of the market for CGEN. You can't sell this much stock without measurably moving the market, meaning that ARKK would be forced to sell their CGEN stock at a sizable loss. This for a<i>2.7% reduction in AUM</i>. A larger reduction in AUM would lead to outsized losses, the fund could even conceivably have liquidity issues.</p>\n<p>Remember, ARKK is the biggest holder, by far, of several stocks. In the case of large outflows, who, exactly, would they sell these stocks to? Themselves? In practice, a buyer is likely to appear sooner or later, but not at a favorable price.</p>\n<p>These issues have proven intractable for other large investment managers to address in the past, and I see no reason why ARKK should be any different. Expect lower returns moving forward.</p>\n<p>ARKK Bull Case Revisited</p>\n<p>Finally, I wanted to remind readers that ARKK remains one of the best-performing ETFs in the market, on the back of the fund's strong management team and investment strategy. The issues, risks, and challenges presented above are very real, but management is well aware of these, and will obviously attempt to generate alpha to the best of their abilities. I'm not confident that they will succeed, but it is definitely a possibility, and investing/betting on that fact would be a reasonable enough position.</p>\n<p>One of ARKK's strengths is their transparency. ARKK's managers consistently explain their overall investment process, their thoughts on their holdings and broader market conditions, as well as issues and challenges faced by the fund. ARK's COO discussed some of the company's liquidity/trading issues in an interview with ETF Trendshere. I think the interview does a good job of presenting the other, more positive, side on the issues raised in this article.</p>\n<p><b>Conclusion</b></p>\n<p>ARKK's rapidly increasing AUMs significantly complicate matters for the fund, reducing returns while increasing the possibility of substantial losses. Investment managers generally see declining performance once assets grow, and I believe the same will likely happen to ARKK. The fund's strong investment strategy and performance track record remain enticing, but the risks are simply too high at the moment, in my opinion at least. As such, the fund is a hold for me.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ARKK's $50 Billion Problem</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\">\nARKK's $50 Billion Problem\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 16:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4418291-arkks-50-billion-problem><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nARKK has been one of the most successful ETFs in recent years.\nSuccess brings its own set of challenges, namely rising assets under management.\nFew investment managers are able to effectively...</p>\n\n<a href=\"https://seekingalpha.com/article/4418291-arkks-50-billion-problem\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","ARKK":"ARK Innovation ETF"},"source_url":"https://seekingalpha.com/article/4418291-arkks-50-billion-problem","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1119761514","content_text":"Summary\n\nARKK has been one of the most successful ETFs in recent years.\nSuccess brings its own set of challenges, namely rising assets under management.\nFew investment managers are able to effectively manage the amount of money that has flown to ARKK these past few months. I'm not sure that ARKK itself can do so.\n\nPhoto by Igor Kutyaev/iStock via Getty Images\nThe ARK Innovation ETF (ARKK) has been one of the best-performing ETFs these past few years, due to a strong management team, and an outstanding investment strategy. Said strategy focuses on disruptive innovators, or companies developing highly innovative products with the potential for market-beating returns. ARKK's success has led to ballooning assets under management, which threaten the viability of the fund's investment strategy.\nARKK has too much money, and nowhere to put it.\nFew asset managers can successfully manage tens of billions, none can match the triple-digit returns ARKK accomplished in the past. ARKK's investment managers will be/have been forced to pivot their strategy towards managing a portfolio of large-cap tech stocks and similar, hopefully achieving some incremental returns or alpha. Few asset managers have successfully managed similar pivots in the past, so I'm concerned about ARKK's capacity to do so.\nIn my opinion, ARKK is no longer a compelling investment opportunity. Risks are still sky-high but potential returns are much lower, albeit still quite high. As such, I'm currently neutral about the fund.\nPeter Lynch and the Magellan Fund\nLet's start with a quick history lesson. I think it will prove instructive.\nBefore Cathie Wood and ARKK there was Peter Lynch and the Fidelity Magellan Fund.\nLynch's strategy as fund manager was quite different from that employed by ARKK. Lynch focused on more traditional large-cap U.S. equities, think General Electric (GE) or Philip Morris(NYSE:PM), and coined the phraseinvest in what you know, which summarizes his investment philosophy. Lynch's performance track record was, however, similar to that of ARKK. Under Lynch's watch, the Magellan Fund consistently outperformed the S&P 500 by double-digits, with annual returns of over 29%:\nSource: Yahoo.com - Chart by author\nThe above downplays Lynch's performance. Consistent double-digit annual outperformance compounds very, very quickly, leading to eye-watering returns. During Lynch's fourteen-year tenure at the fund, investors saw their investments multiply 25 times in value, compared to about 5.5 times for the S&P 500. Extremely few investment managers have achieved comparable results.\nSource: Yahoo.com - Chart by author\nCompared to ARKK, returns were somewhat lower, but much more consistent, owing to Lynch's highly diversified portfolios.\nSource: ARKK Corporate Website\nAs returns grew so did assets under management, as investors, understandably, sought to profit from Lynch's success. Under his tenure, AUM grew from $18 million to $14 billion. Magellan became the largest investment fund in the world, and Fidelity earned a lot in fees:\nData by YCharts\nMagellan was incredibly successful. Too successful, in fact.\nAs AUMs grew Lynch and his team had issues generating alpha. There are only so many mispriced stocks out there, plus large funds have to take care not to move markets as they enter or exit positions. Take a look at Magellan's yearly returns above, and you'll see that outperformance decreased after 1986, when AUMs reached $4 billion. The fund also underperformed during 1987 and 1990, after, and only after, it had grown in size. Consistent double-digit outperformance and returns were easy when the fund had a billion or two in assets, more difficult when these grew to the tens of billions.\nAssets continued to grow. Alpha became ever more difficult to find. Management grew weary. By 1997, Fidelity decided to close the Magellan Fund to new investors, in the hopes that lower, more stable AUMs would lead to sustainable long-term alpha. AUMs stabilized, but the fund never managed to consistently outperform again:\nData by YCharts\nMagellan was, ultimately, a victim of its own success, although Lynch left the firm and the fund before that happened. Perhaps he saw the writing on the wall, although I'm guessing he thought he could earn more money on his own.\nOther investment managers, including Warren Buffett, have had similar issues to Lynch, and most are quite forthcoming about the issues with managing large amounts of money.\nWhich brings me to Wood and ARKK.\nARKK started out in late 2014 as a small, niche innovation fund. AUMs were quite low at first, started to grow in 2017, and reached a respectable $1.86 billion by 2020:\nData by YCharts\nReturns were lackluster at first, but started to improve during 2017, preceding AUM growth:\nData by YCharts\nThen the coronavirus pandemic hit, causing a rotation towards tech and tech-adjacent stocks. ARKK was well-positioned to take advantage of these trends. The fund was heavily invested in industries like fintech and biotech, both of which saw increased revenues, earnings, share prices and valuations during the pandemic. Returns skyrocketed to triple-digits, with the fund significantly outperforming the market:\nData by YCharts\nAUMs grew even faster, with the fund ballooning from less than 2 billion to over 24 billion in just over a year. Collective, actively-managed ARKK funds hold over $50 billion in assets:\nData by YCharts\nAsset growth has, however, coincided with lower returns. The fund is down more than 18% since AUMs peaked at over $25 billion:\nData by YCharts\nThe stories seem awfully familiar.\nAs should be clear from the above, I believe that what happened to the Magellan Fund could happen to ARKK.\nThere is precedent for large funds to underperform. It is extremely difficult to generate alpha at scale. Most asset managers are simply unable to do so. Wood and ARKK could be the exceptions, but exceptions are rare, and investors shouldn't assume that ARKK will be one.\nMost of my thoughts and concerns with size are simply due to the historical precedent, hence the analysis of Lynch and Magellan. Still, I think that a close look at ARKK's strategy can help explain why size could be such a drag on the fund's performance. Let's have a look.\nARKK Strategy Analysis\nARKK's strategy is quite simple. The company invests in disruptive innovators, or companies developing technologies with the potential for significant world-altering effects. ARKK first selects innovation themes, basically highly innovative industries, and then selects appropriate stocks from these. I covered the fund's strategy in more depthhere.\nThese are ARKK's ten largest holdings in January 2020, before the pandemic, and before their explosive growth.\nSource: ARKK Corporate Website - Chart by author\nAs can be seen above, the average ARKK holding was a small company, with a market cap below $5 billion, little in revenues or earnings, but the potential for strong revenue growth and outsized gains. The typical company was something like Crispr (CRSP), which develops gene-editing technology, or Invitae (NVTA), which develops genetic testing equipment. ARKK's job was to separate the wheat from the chaff. You want the innovative companies, you don't want the \"frauds\" like Theranos. As these are small companies, ARKK generally held a sizable percentage of their market cap. Low single digits was common, rising to double-digits for a few of the smaller names.\nARKK also had large investments in mid-cap stocks like Square (SQ) and Illumina (ILMN). These were all relatively large companies, but with a strong growth pathway, and have all performed reasonably well.\nARKK's largest, most controversial, and sole large-cap stake was in Tesla (TSLA). The fund's managers had identified the company as a key player in the burgeoning electric vehicle industry, and thought it offered the strongest potential returns in the entire equities market. They were right.\nThe strategy and holdings above were very effective and profitable in the past, but shouldn't work as well as AUMs grow. This is the case for three key reasons.\nFirst, is the simple fact that a large fund can't effectively focus on small-cap stocks, there are only so many of these, and not enough for a fund with tens of billions in AUMs. As an example, ARKK had $86 million invested in CRISPR last year. For a $2 billion fund, that is a sizable investment. For a $20 billion fund, that is basically peanuts, equivalent to less than 0.5% of its holdings. It is impossible to build a high-conviction actively-managed portfolio in a very niche industry if you need hundreds of holdings, so ARKK will simply dump this aspect of its erstwhile successful investment strategy.\nLooking at ARKK's current largest holdings, it seems that the above is the case:\nSource: ARKK Corporate Website - Chart by author\nAs can be seen above, ARKK now invests more heavily into larger corporations, with an average market capitalization of $128 billion. ARKK does a similar, more in-depth, calculation of the above, and arrives at a similar (outdated) figure:\nSource: ARKK Corporate Website - Chart by author\nAs can be seen above, the average ARKK holding is a $122 billion corporation, quite close to Tesla's market cap last year. I think this is very telling. Tesla was the only large-cap stock ARKK's management team felt was significantly undervalued last year. Today, most of their investments are in companies like Tesla circa 2020. Did management change their perspective on these stocks, or were they forced into large-cap stocks due to rising AUMs? In my opinion, it is definitely the latter, which bodes negatively for the fund's long-term returns.\nSecond, is the fact that insofar as ARKKdoesinvest in small-cap names, the fund is forced into holding a significant portion of their float. ARKK and its sister funds own more than 10% of 29 companies, and over 25% of three:\n\nIn most cases, ARK is the biggest institutional investor of these stocks.\nIt is very, very difficult to enter or exit into positions of these sizes. In most cases there is simply no buyer for, say, 29% of a stock like Compugen, at least not on a moment's notice. At the same time, in the vast majority of cases you can't enter or exit into a position like this without the market moving against you. Buying a 29% stake in a company will almost always mean the price of the stock increases, selling should have the opposite effect. In simple terms, ARKK is likely being forced to buy high and sell low, a dreadful combination.\nThird, and related to the above, is the fact that holding large stakes in small-cap stocks could prove ruinous if the fund is forced to sell its assets due to investor outflows.\nLet's go through a simple example to show what I mean. During the last week of February, ARKK suffered outflows of about $638 million, equivalent to about 2.7% of the value of the fund. Other ARK funds suffered similar outflows:\n\nARK funds collectively hold 29% of CGEN, or42% of its float:\n\nAssume ARKK sold 2.7% of all of its stocks to fund that outflow, that would mean that the company would be forced to sell about 660,000 shares. Volume averages 1,300,000 shares, which means that ARKK selling would constitute 50% of the market for CGEN. You can't sell this much stock without measurably moving the market, meaning that ARKK would be forced to sell their CGEN stock at a sizable loss. This for a2.7% reduction in AUM. A larger reduction in AUM would lead to outsized losses, the fund could even conceivably have liquidity issues.\nRemember, ARKK is the biggest holder, by far, of several stocks. In the case of large outflows, who, exactly, would they sell these stocks to? Themselves? In practice, a buyer is likely to appear sooner or later, but not at a favorable price.\nThese issues have proven intractable for other large investment managers to address in the past, and I see no reason why ARKK should be any different. Expect lower returns moving forward.\nARKK Bull Case Revisited\nFinally, I wanted to remind readers that ARKK remains one of the best-performing ETFs in the market, on the back of the fund's strong management team and investment strategy. The issues, risks, and challenges presented above are very real, but management is well aware of these, and will obviously attempt to generate alpha to the best of their abilities. I'm not confident that they will succeed, but it is definitely a possibility, and investing/betting on that fact would be a reasonable enough position.\nOne of ARKK's strengths is their transparency. ARKK's managers consistently explain their overall investment process, their thoughts on their holdings and broader market conditions, as well as issues and challenges faced by the fund. ARK's COO discussed some of the company's liquidity/trading issues in an interview with ETF Trendshere. I think the interview does a good job of presenting the other, more positive, side on the issues raised in this article.\nConclusion\nARKK's rapidly increasing AUMs significantly complicate matters for the fund, reducing returns while increasing the possibility of substantial losses. Investment managers generally see declining performance once assets grow, and I believe the same will likely happen to ARKK. The fund's strong investment strategy and performance track record remain enticing, but the risks are simply too high at the moment, in my opinion at least. As such, the fund is a hold for me.","news_type":1},"isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348744408,"gmtCreate":1617968478104,"gmtModify":1704705433297,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Under my radar detected.","listText":"Under my radar detected.","text":"Under my radar detected.","images":[{"img":"https://static.tigerbbs.com/b3039bec0d15a9e0b2acb414a727e411","width":"1125","height":"3218"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348744408","isVote":1,"tweetType":1,"viewCount":63,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":348214411,"gmtCreate":1617931847033,"gmtModify":1704704953381,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Time for rotations play, Take profit on Singapore and vest onto S&amp;P","listText":"Time for rotations play, Take profit on Singapore and vest onto S&amp;P","text":"Time for rotations play, Take profit on Singapore and vest onto S&P","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/348214411","repostId":"2126709116","repostType":4,"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348896196,"gmtCreate":1617900887115,"gmtModify":1704704649179,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Time will tell.&nbsp;","listText":"Time will tell.&nbsp;","text":"Time will tell.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/348896196","repostId":"1101689800","repostType":4,"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3558675649925642","authorId":"3558675649925642","name":"poobear","avatar":"https://static.tigerbbs.com/24ce5566455649c3de6f2993f0c29e29","crmLevel":2,"crmLevelSwitch":0,"idStr":"3558675649925642","authorIdStr":"3558675649925642"},"content":"for better or worse?","text":"for better or worse?","html":"for better or worse?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341467624,"gmtCreate":1617848034468,"gmtModify":1704703888400,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Crush provides opportunity too, Buy at dip.","listText":"Crush provides opportunity too, Buy at dip.","text":"Crush provides opportunity too, Buy at dip.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341467624","repostId":"1139572887","repostType":4,"repost":{"id":"1139572887","pubTimestamp":1617843226,"share":"https://ttm.financial/m/news/1139572887?lang=&edition=fundamental","pubTime":"2021-04-08 08:53","market":"us","language":"en","title":"NIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.","url":"https://stock-news.laohu8.com/highlight/detail?id=1139572887","media":"Barron's","summary":"Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain.","content":"<p>Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain. Electric vehicle stocks have been roiled by issues ranging frominterest ratechanges tomicrochip shortages. Today’s is due to a new reason.</p>\n<p>NIO (ticker: NIO) shares fell almost 7%. XPeng (XPEV) stock dropped 8%. Li Auto (LI) shares fared the worst Wednesday, dropping almost 13%.</p>\n<p>EV investors can’t use rotation out of highly valued technology stocks as an excuse, however. Recently, old economy value-oriented stocks have been outperforming tech as the global economy awakens from its Covid-induced coma. TheNasdaq Composite Indexfell only 0.1%. TheRussell 1000 Growth Indexand theS&amp;P 500both closed up about 0.2%.</p>\n<p>So what’s hurting Chinese EV stocks? Li Auto seems responsible, catalyzing the drop byannouncingplans for a $750 convertible bond offering in what amounts to a capital raise.Convertible bonds, as their name suggests, convert into common stock under certain conditions, and investors don’t like to see their existing stakes diluted with new stock. It’s the reasonmost capital raisestend to drive stock prices down for a while.</p>\n<p>A convertible bond can generate some stock selling pressure in yet another way. Convertible arbitrage traders will sell the stock of the issuer short and buy the convertible bond. That way they can lock in a relatively attractive bond yield and take the stock risk, embedded in a convertible, out of their return equation.</p>\n<p>With Wednesday’s drop, NIO, XPeng, and Li stocks are down more than 20% on average this year. U.S. EV stocks aren’t doing so hot either.Lordstown Motors(RIDE) has tumbled 41% this year, whileWorkhorse Group(WKHS) has slumped 44%, andNikolahas dropped 19%. All three of those stock have had their own issues to deal with, such asnegative research reportsandcontract losses.</p>\n<p>And evenTesla(TSLA), which is down just 4.9% in 2021, has fallen 24% since peaking in January.</p>\n<p>EV investors havedealt with a lotalready in 2021. Higher interest rates, which make financing growth more expensive and reduce the value of future cash flows, hurt EV stocks. So has the chip shortage. NIO stock, for instance, dropped after it cut delivery guidance because of a lack of chips. Now the specter of more capital raises is shaking investor confidence a little more.</p>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNIO and Other Chinese EV Stocks Are Getting Crushed. Tesla’s Not Doing So Hot Either.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 08:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/nio-and-other-chinese-ev-stocks-are-getting-crushed-teslas-not-doing-so-hot-either-51617830812?siteid=yhoof2><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain. Electric vehicle stocks have been roiled by issues ranging frominterest ratechanges tomicrochip ...</p>\n\n<a href=\"https://www.barrons.com/articles/nio-and-other-chinese-ev-stocks-are-getting-crushed-teslas-not-doing-so-hot-either-51617830812?siteid=yhoof2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NIO":"蔚来","XPEV":"小鹏汽车","LI":"理想汽车"},"source_url":"https://www.barrons.com/articles/nio-and-other-chinese-ev-stocks-are-getting-crushed-teslas-not-doing-so-hot-either-51617830812?siteid=yhoof2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1139572887","content_text":"Shares ofNIO,XPeng,andLi Autofell dramatically in Wednesday trading, adding to recent investor pain. Electric vehicle stocks have been roiled by issues ranging frominterest ratechanges tomicrochip shortages. Today’s is due to a new reason.\nNIO (ticker: NIO) shares fell almost 7%. XPeng (XPEV) stock dropped 8%. Li Auto (LI) shares fared the worst Wednesday, dropping almost 13%.\nEV investors can’t use rotation out of highly valued technology stocks as an excuse, however. Recently, old economy value-oriented stocks have been outperforming tech as the global economy awakens from its Covid-induced coma. TheNasdaq Composite Indexfell only 0.1%. TheRussell 1000 Growth Indexand theS&P 500both closed up about 0.2%.\nSo what’s hurting Chinese EV stocks? Li Auto seems responsible, catalyzing the drop byannouncingplans for a $750 convertible bond offering in what amounts to a capital raise.Convertible bonds, as their name suggests, convert into common stock under certain conditions, and investors don’t like to see their existing stakes diluted with new stock. It’s the reasonmost capital raisestend to drive stock prices down for a while.\nA convertible bond can generate some stock selling pressure in yet another way. Convertible arbitrage traders will sell the stock of the issuer short and buy the convertible bond. That way they can lock in a relatively attractive bond yield and take the stock risk, embedded in a convertible, out of their return equation.\nWith Wednesday’s drop, NIO, XPeng, and Li stocks are down more than 20% on average this year. U.S. EV stocks aren’t doing so hot either.Lordstown Motors(RIDE) has tumbled 41% this year, whileWorkhorse Group(WKHS) has slumped 44%, andNikolahas dropped 19%. All three of those stock have had their own issues to deal with, such asnegative research reportsandcontract losses.\nAnd evenTesla(TSLA), which is down just 4.9% in 2021, has fallen 24% since peaking in January.\nEV investors havedealt with a lotalready in 2021. Higher interest rates, which make financing growth more expensive and reduce the value of future cash flows, hurt EV stocks. So has the chip shortage. NIO stock, for instance, dropped after it cut delivery guidance because of a lack of chips. Now the specter of more capital raises is shaking investor confidence a little more.","news_type":1},"isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341464066,"gmtCreate":1617847861555,"gmtModify":1704703886783,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Buy, This cannot be miss when economy pick up. Buy at cheap before it ran.","listText":"Buy, This cannot be miss when economy pick up. Buy at cheap before it ran.","text":"Buy, This cannot be miss when economy pick up. Buy at cheap before it ran.","images":[{"img":"https://static.tigerbbs.com/ca4b2f4a4eed16fe7b2dadce85bfd914","width":"1125","height":"2311"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341464066","isVote":1,"tweetType":1,"viewCount":175,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":341462468,"gmtCreate":1617847705554,"gmtModify":1704703885159,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/GLSI\">$Greenwich Lifesciences Inc(GLSI)$</a>More to come.&nbsp;","listText":"<a href=\"https://laohu8.com/S/GLSI\">$Greenwich Lifesciences Inc(GLSI)$</a>More to come.&nbsp;","text":"$Greenwich Lifesciences Inc(GLSI)$More to come.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341462468","isVote":1,"tweetType":1,"viewCount":195,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340880953,"gmtCreate":1617371673472,"gmtModify":1704699266123,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Personally I believe that it will keep consolidation from 30,000 to 33,000 till year&nbsp;end 2022 before having a crashing take place.","listText":"Personally I believe that it will keep consolidation from 30,000 to 33,000 till year&nbsp;end 2022 before having a crashing take place.","text":"Personally I believe that it will keep consolidation from 30,000 to 33,000 till year end 2022 before having a crashing take place.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/340880953","repostId":"1191998262","repostType":4,"repost":{"id":"1191998262","pubTimestamp":1617366158,"share":"https://ttm.financial/m/news/1191998262?lang=&edition=fundamental","pubTime":"2021-04-02 20:22","market":"us","language":"en","title":"How Likely Is a Stock Market Crash?","url":"https://stock-news.laohu8.com/highlight/detail?id=1191998262","media":"Motley Fool","summary":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-b","content":"<blockquote>\n You may not like the answer.\n</blockquote>\n<p>For the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmark<b>S&amp;P 500</b>(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.</p>\n<p>But there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.</p>\n<p>It begs the question: How likely is astock market crash? Let's take a closer look.</p>\n<p><b>Double-digit declines occur every 1.87 years, on average</b></p>\n<p>To begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&amp;P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&amp;P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.</p>\n<p>However, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.</p>\n<p>We could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.</p>\n<p><b>Corrections have been an historical given within three years of a bear market bottom</b></p>\n<p>Another interesting piece of evidence to examine is the frequency by which the S&amp;P 500 corrects after hitting a bear-market bottom.</p>\n<p>Since the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).</p>\n<p>Put another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.</p>\n<p><b>Crashes frequently occur when this valuation metric is hit</b></p>\n<p>But the most damning bit of evidence might just be the S&amp;P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.</p>\n<p>As of the close of business on March 30, the S&amp;P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.</p>\n<p>To some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.</p>\n<p>However, previous instances of the S&amp;P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.</p>\n<p><b>Keep that cash handy in the event that opportunity knocks</b></p>\n<p>To circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.</p>\n<p>While this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.</p>\n<p>The reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&amp;P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&amp;P 500 been negative.</p>\n<p>If you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&amp;P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.</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>How Likely Is a Stock Market Crash?</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\">\nHow Likely Is a Stock Market Crash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/\">Web Link</a>\n\n</div>\n\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","SPY":"标普500ETF"},"source_url":"https://www.fool.com/investing/2021/04/02/how-likely-is-a-stock-market-crash/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191998262","content_text":"You may not like the answer.\n\nFor the past year, investors have enjoyed one of the greatest bounce-back rallies of all time. After the benchmarkS&P 500(SNPINDEX:^GSPC)lost a third of its value in mere weeks due to unprecedented uncertainties surrounding the coronavirus pandemic, it bounced back to gain in the neighborhood of 75% off its lows. You could rightly say that patience has paid off.\nBut there's another reality that investors -- especially long-term investors -- are keenly aware of: the propensity of the stock market to crash or correct. Things might look great now, but the next big nosedive is always waiting in the wings.\nIt begs the question: How likely is astock market crash? Let's take a closer look.\nDouble-digit declines occur every 1.87 years, on average\nTo begin with the basics, stock market corrections (i.e., declines of at least 10%) are quite common in the S&P 500. According to data from market analytics firm Yardeni Research, there have been 38 corrections in the S&P 500 since the beginning of 1950. This works out to an average double-digit decline in the benchmark indexevery 1.87 years. Since it's now been more than a year since the market hit its bear-market bottom, the averages are certainly not in investors' favor.\nHowever, averages are nothing more than that... averages. The market doesn't adhere to averages, even if some folks base their investments off of what's happened historically.\nWe could enter a period similar to 1991 through 1996 where there were zero corrections. Or we could continue the theme since the beginning of 2010, where corrections occur, on average, every 19 months.\nCorrections have been an historical given within three years of a bear market bottom\nAnother interesting piece of evidence to examine is the frequency by which the S&P 500 corrects after hitting a bear-market bottom.\nSince the beginning of 1960 (an arbitrary year I chose for the sake of simplicity), the widely followed index has navigated its way through nine bear markets, including the coronavirus crash. In rebounding from each of the previous eight bear market lows, there was at least one double-digit percentage decline within three years100% of the time. In aggregate, 13 corrections have occurred within three years following the last eight bear market bottoms (i.e., either one or two following each bottom).\nPut another way, rebounding from a bear-market bottom is rarely a straight-line move higher. Yet up, up, and away has pretty much been the theme for investors since March 23, 2020. History would suggest that there's a very good chance of a move lower in equities within the next two years.\nCrashes frequently occur when this valuation metric is hit\nBut the most damning bit of evidence might just be the S&P 500's Shiller price-to-earnings (P/E) ratio. This is a valuation metric that examines the average inflation-adjusted earnings from the previous 10 years. You might also know it as the cyclically adjusted P/E ratio, or CAPE.\nAs of the close of business on March 30, the S&P 500's Shiller P/E ratio hit 35.61. That's well over double its 150-year average of 16.8. Using continuous bull market moves as a parameter, it's the second-highest reading in its history.\nTo some extent, itmakes sensethat equity valuations should be higher now than they've been historically. That's because interest rates are near an all-time low and access to the internet has effectively broken down barriers between Wall Street and Main Street that may have, in the past, kept P/E multiples at bay.\nHowever, previous instances of the S&P 500's Shiller P/E ratio crossing above and sustaining the 30 levelhaven't ended well. In the prior four instances where the Shiller P/E surpassed and held above 30, the benchmark index tumbled anywhere from 20% to as much as 89%. Although an 89% plunge, which was experienced during the Great Depression, is very unlikely these days, a big drop has historically been in the cards when valuations get extended, as they are now.\nKeep that cash handy in the event that opportunity knocks\nTo circle back to the original question at hand, the data is pretty clear that the likelihood of a stock market crash or correction has grown considerably. It's impossible to precisely predict when a crash might occur, how long the decline will last, or how steep the drop could be. But the data strongly suggests that downside is in the offing.\nWhile this might be a disappointing revelation to some investors, it shouldn't be. Crashes and corrections are a normal part of the investing cycle. More importantly, theyprovide an opportunityfor investors to buy into great companies at a discount. Just think about all the great companies you're probably kicking yourself over for not buying last March.\nThe reason to be excited about crashes and corrections is also found in the data. You see, of those 38 previous corrections in the S&P 500 since the beginning of 1950, each and every one has eventually been put into the rearview mirror by a bull market rally. Plus,at no point over the past centuryhave rolling 20-year total returns (including dividends) for the S&P 500 been negative.\nIf you need further encouragement to buy during a correction, keep in mind that 24 of the 38 double-digit declines in the S&P 500 havefound their bottom in 104 or fewer calendar days(3.5 months or less). Crashes and corrections may be steep at times but tend to resolve quickly. That's your cue to have cash at the ready in the event that opportunity knocks.","news_type":1},"isVote":1,"tweetType":1,"viewCount":104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":109985423,"gmtCreate":1619659290762,"gmtModify":1704727524350,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"The Good of the stock, The Bad of the pricing now and the Ugly chart we are facing now. Haha!!","listText":"The Good of the stock, The Bad of the pricing now and the Ugly chart we are facing now. Haha!!","text":"The Good of the stock, The Bad of the pricing now and the Ugly chart we are facing now. Haha!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/109985423","repostId":"1155904518","repostType":2,"repost":{"id":"1155904518","pubTimestamp":1619582445,"share":"https://ttm.financial/m/news/1155904518?lang=&edition=fundamental","pubTime":"2021-04-28 12:00","market":"us","language":"en","title":"Tesla: The Good, The Bad, And The Ugly","url":"https://stock-news.laohu8.com/highlight/detail?id=1155904518","media":"seekingalpha","summary":"Summary\n\nTesla's Q1 results beat on the top line and the bottom line. But what does a more in-depth ","content":"<p><b>Summary</b></p>\n<ul>\n <li>Tesla's Q1 results beat on the top line and the bottom line. But what does a more in-depth look tell us about Tesla's business?</li>\n <li>There are positive surprises, but also major issues that materialize once we delve into the numbers.</li>\n <li>We highlight the major reasons for concern and what we believe should be done with Tesla's stock.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/28e82f148a617efbe1a779ff650d2e1c\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Dean Mouhtaropoulos/Getty Images News via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>Tesla (TSLA) reported its first-quarter results that beat on both the top line and the bottom line, showcasing healthy growth versus the previous year's quarter. A more in-depth look shows that not everything was rosy. In this article, I'll take a deeper look at the good things and the bad things investors should keep an eye on when considering an investment in Tesla, or when thinking about what to do with an existing Tesla investment.</p>\n<p><b>The Good</b></p>\n<p><b>Outperforming ASP Estimates</b></p>\n<p>Tesla had already announced that it grew its deliveries massively year over year, but the company nevertheless managed to beat revenue estimates, if only slightly. Revenues rose 74% year over year, which was a strong showing, even for a growth stock. The fact that Tesla was able to beat revenue estimates despite already having announced delivery numbers for the quarter shows that the company was able to outperform analyst estimates when it comes to average sales prices. It thus seems that the company was less impacted by some price adjustments compared to what analysts had expected. This is good news for Tesla, after all a higher average sales price is great for its margins.</p>\n<p><b>Healthy Cash Flows And Balance Sheet</b></p>\n<p>Tesla was, in previous years, oftentimes criticized for its lack of durable cash flows. More bearish analysts had oftentimes commented that the company's inability to finance capital expenditures from operating cash flows alone was a major issue. This has changed in the recent past, and in Q1, Tesla again showed that it was able to generate all the cash that the company needs to pay its factory capex:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/16458a6ad0a9d6a8d3f6a44ffc2aa5d0\" tg-width=\"640\" tg-height=\"340\"><span>Source: Tesla presentation</span></p>\n<p>Tesla's operating cash flows were $300 million higher than its capital expenditures, resulting in a small positive free cash flow for the quarter. That was less compared to the previous quarter, but we should consider that Tesla's business is seasonal to some degree - sales are usually the lowest in Q1, which is why that is a weaker quarter cash-flow-wise. Comparing this year's Q1 to the previous year's Q1 shows an encouraging improvement in Tesla's cash generation ability.</p>\n<p>We can also take a look at how Tesla's balance sheet is doing. With $17 billion in cash and equivalents, Tesla has ample liquidity to finance its near-term cash needs, e.g. for the buildout of its factories in Austin and Berlin. I don't see any basis for claims that Tesla was in financial trouble or anything like that - the combination of a sizeable cash position and positive, albeit small, free cash flows is looking healthy. In case Tesla needs additional cash for whatever reason, the company could also most likely easily do another secondary - 2020's secondary didn't hurt the stock price at all.</p>\n<p><b>The Bad</b></p>\n<p><b>High Dependence On Regulatory Credit Sales</b></p>\n<p>Looking at Tesla's income statement, we see that Tesla has, despite showing healthy business growth, not yet managed to become profitable (to a significant degree) on the auto sales side when regulatory credit sales are backed out:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a6cf5dcc33a3d1624093febaab7843b7\" tg-width=\"640\" tg-height=\"357\"><span>Source: Tesla presentation</span></p>\n<p>During the first quarter, regulatory credit sales of $520 million outpaced Tesla's net income by $80 million. When we assume that Tesla has likely paid taxes of around 20%, then we get to a pre-tax profit estimate of $550 million. In other words, once regulatory credit sales are backed out, Tesla more or less managed to break even (we can't say for sure until we see the 10-Q and the taxes Tesla paid). No matter what, it seems clear that profitability without regulatory credit sales was weak. This is a problem due to two reasons.</p>\n<p>First, regulatory credit sales will likely not be an ever-lasting source of revenue. If EVs will continue to make big gains in the automobile market, there will be more and more regulatory credit sales that can be sold, and there will be fewer and fewer legacy auto companies that need them. This should eventually make this market dry up, thus this part of Tesla's business will likely not be long-lasting.</p>\n<p>Second, the weak profitability without regulatory credit sales shows that the theory that Tesla's profitability will improve massively with scale seems a little adventurous. Tesla's operating profits ex regulatory credit sales improved by just $140 million between Q1 2020 and Q1 2021. If growing delivery numbers by more than 100% year over year and adding $4.4 billion in sales adds just $140 million in operating profits, then that doesn't tell a great story about how Tesla's auto business will become widely profitable with increasing scale. Instead, it looks like profitability (ex regulatory credit sales) improved only marginally, despite a huge increase in Tesla's deliveries and revenues. Operating leverage doesn't seem to be a huge driver of profitability here - unlike, for example, with many highly-valued software stocks, where additional revenues have an outsized impact on profits.</p>\n<p><b>Ex-Auto Businesses Are Losing More Money</b></p>\n<p>In my view, Tesla is a car company - after all, that is where most of its revenues are generated, at about 90%. Some bulls, however, think that Tesla should be seen as an integrated energy company, a tech company, etc. One can make arguments for that, although I still believe that the high dependency on regular auto sales clearly qualifies Tesla as a car company primarily.</p>\n<p>No matter what you think about how Tesla should be qualified, one thing seems pretty clear: The non-auto ventures are money-burning activities:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/21de975474beff2fdf5c3cb16bc13b64\" tg-width=\"640\" tg-height=\"342\"><span>Source: Tesla presentation</span></p>\n<p>From the above slide, we can deduct that the non-auto ventures contributed about $1.4 billion in revenues during the quarter. That was up from $0.9 billion during the previous year's quarter, and flat on a sequential basis. The non-auto ventures, such as batteries for energy storage and solar panels, thus delivered some business growth on a year-over-year basis. At the same time, however, these businesses seem to be structurally unprofitable. They generated<i>negative gross profits of $170 million</i>during the first quarter, up from a negative gross profit of $80 million during the previous year's quarter.</p>\n<p>In other words, Tesla's non-auto businesses grew, but lost more money - even before operating expenses and attributable interest expenses are accounted for. I don't see any reason to believe that a business that is regularly losing money on a gross profit basis - i.e. even before R&amp;D, sales, administrative expenses, etc. could become widely profitable in the foreseeable future. On top of that, the fact that gross profits got even further into negative territory despite the added scale shows that this isn't an issue that can be easily solved by growing the business to profitability - at least so far, more growth has led to more losses.</p>\n<p>It is possible that Tesla is able to eventually turn these businesses around, but the path to that seems quite hard from what we can tell. So far, it looks like these businesses are structurally unprofitable, and it is thus not easy to argue that they should be worth a lot.</p>\n<p><b>The Ugly</b></p>\n<p>Tesla isn't a bad company - it has turned from a startup to a market leader in EVs, surpassing many legacy auto companies on the way. The company also managed to build a valuable brand (although some others are still way more valuable). The company should be complemented for these achievements, and I don't think there's a good reason to trash the company.</p>\n<p>When we look at Tesla's valuation, however, it seems pretty clear to me that this stock is way overvalued. Tesla is valued at $700+ billion, despite being only marginally profitable without regulatory credit sales. The company, with annual sales of about 800,000 vehicles, is valued at several times as much as Toyota (TM) or Volkswagen (OTCPK:VWAGY), which sell about 10 million vehicles a year each - and they are massively more profitable than Tesla at the same time.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/cece9001c5e284c98dce11735d632420\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>Comparing Tesla and Toyota, we see that the latter is valued at roughly 1/20th of how Tesla is valued, relative to the revenues these two companies generate. Massive growth is already priced into Tesla's shares, but it isn't clear whether Tesla will indeed sell many millions of cars in the foreseeable future.</p>\n<p>Due to growing competition from all sides, including legacy auto, new startups, and tech mega-corps such as Apple (AAPL), Tesla's growth could easily slow down in coming years. When we also factor in the weak profitability of Tesla's business once regulatory credit sales have run their course, I don't see any good reason why this company should be valued at anywhere close to $700 billion. I thus believe that Tesla isn't a bad company - but a very overvalued one for sure.</p>\n<p><b>Takeaway</b></p>\n<p>Tesla's Q1 wasn't outright bad - there were positives, such as average sales prices that beat expectations. There also were negatives, however, that shouldn't be ignored by bulls, such as weak profitability without regulatory credit sales, or the issues in Tesla's non-auto businesses.</p>\n<p>When we factor in Tesla's extremely high valuation - the stock trades for more than 1000 times trailing earnings - it seems to me that Tesla is a stock that should be avoided at current prices. If I held a position, I'd lock in gains, as downside risk seems quite pronounced here.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: The Good, The Bad, And The Ugly</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: The Good, The Bad, And The Ugly\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-28 12:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4421799-tesla-earnings-good-bad-and-ugly><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTesla's Q1 results beat on the top line and the bottom line. But what does a more in-depth look tell us about Tesla's business?\nThere are positive surprises, but also major issues that ...</p>\n\n<a href=\"https://seekingalpha.com/article/4421799-tesla-earnings-good-bad-and-ugly\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4421799-tesla-earnings-good-bad-and-ugly","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1155904518","content_text":"Summary\n\nTesla's Q1 results beat on the top line and the bottom line. But what does a more in-depth look tell us about Tesla's business?\nThere are positive surprises, but also major issues that materialize once we delve into the numbers.\nWe highlight the major reasons for concern and what we believe should be done with Tesla's stock.\n\nPhoto by Dean Mouhtaropoulos/Getty Images News via Getty Images\nArticle Thesis\nTesla (TSLA) reported its first-quarter results that beat on both the top line and the bottom line, showcasing healthy growth versus the previous year's quarter. A more in-depth look shows that not everything was rosy. In this article, I'll take a deeper look at the good things and the bad things investors should keep an eye on when considering an investment in Tesla, or when thinking about what to do with an existing Tesla investment.\nThe Good\nOutperforming ASP Estimates\nTesla had already announced that it grew its deliveries massively year over year, but the company nevertheless managed to beat revenue estimates, if only slightly. Revenues rose 74% year over year, which was a strong showing, even for a growth stock. The fact that Tesla was able to beat revenue estimates despite already having announced delivery numbers for the quarter shows that the company was able to outperform analyst estimates when it comes to average sales prices. It thus seems that the company was less impacted by some price adjustments compared to what analysts had expected. This is good news for Tesla, after all a higher average sales price is great for its margins.\nHealthy Cash Flows And Balance Sheet\nTesla was, in previous years, oftentimes criticized for its lack of durable cash flows. More bearish analysts had oftentimes commented that the company's inability to finance capital expenditures from operating cash flows alone was a major issue. This has changed in the recent past, and in Q1, Tesla again showed that it was able to generate all the cash that the company needs to pay its factory capex:\nSource: Tesla presentation\nTesla's operating cash flows were $300 million higher than its capital expenditures, resulting in a small positive free cash flow for the quarter. That was less compared to the previous quarter, but we should consider that Tesla's business is seasonal to some degree - sales are usually the lowest in Q1, which is why that is a weaker quarter cash-flow-wise. Comparing this year's Q1 to the previous year's Q1 shows an encouraging improvement in Tesla's cash generation ability.\nWe can also take a look at how Tesla's balance sheet is doing. With $17 billion in cash and equivalents, Tesla has ample liquidity to finance its near-term cash needs, e.g. for the buildout of its factories in Austin and Berlin. I don't see any basis for claims that Tesla was in financial trouble or anything like that - the combination of a sizeable cash position and positive, albeit small, free cash flows is looking healthy. In case Tesla needs additional cash for whatever reason, the company could also most likely easily do another secondary - 2020's secondary didn't hurt the stock price at all.\nThe Bad\nHigh Dependence On Regulatory Credit Sales\nLooking at Tesla's income statement, we see that Tesla has, despite showing healthy business growth, not yet managed to become profitable (to a significant degree) on the auto sales side when regulatory credit sales are backed out:\nSource: Tesla presentation\nDuring the first quarter, regulatory credit sales of $520 million outpaced Tesla's net income by $80 million. When we assume that Tesla has likely paid taxes of around 20%, then we get to a pre-tax profit estimate of $550 million. In other words, once regulatory credit sales are backed out, Tesla more or less managed to break even (we can't say for sure until we see the 10-Q and the taxes Tesla paid). No matter what, it seems clear that profitability without regulatory credit sales was weak. This is a problem due to two reasons.\nFirst, regulatory credit sales will likely not be an ever-lasting source of revenue. If EVs will continue to make big gains in the automobile market, there will be more and more regulatory credit sales that can be sold, and there will be fewer and fewer legacy auto companies that need them. This should eventually make this market dry up, thus this part of Tesla's business will likely not be long-lasting.\nSecond, the weak profitability without regulatory credit sales shows that the theory that Tesla's profitability will improve massively with scale seems a little adventurous. Tesla's operating profits ex regulatory credit sales improved by just $140 million between Q1 2020 and Q1 2021. If growing delivery numbers by more than 100% year over year and adding $4.4 billion in sales adds just $140 million in operating profits, then that doesn't tell a great story about how Tesla's auto business will become widely profitable with increasing scale. Instead, it looks like profitability (ex regulatory credit sales) improved only marginally, despite a huge increase in Tesla's deliveries and revenues. Operating leverage doesn't seem to be a huge driver of profitability here - unlike, for example, with many highly-valued software stocks, where additional revenues have an outsized impact on profits.\nEx-Auto Businesses Are Losing More Money\nIn my view, Tesla is a car company - after all, that is where most of its revenues are generated, at about 90%. Some bulls, however, think that Tesla should be seen as an integrated energy company, a tech company, etc. One can make arguments for that, although I still believe that the high dependency on regular auto sales clearly qualifies Tesla as a car company primarily.\nNo matter what you think about how Tesla should be qualified, one thing seems pretty clear: The non-auto ventures are money-burning activities:\nSource: Tesla presentation\nFrom the above slide, we can deduct that the non-auto ventures contributed about $1.4 billion in revenues during the quarter. That was up from $0.9 billion during the previous year's quarter, and flat on a sequential basis. The non-auto ventures, such as batteries for energy storage and solar panels, thus delivered some business growth on a year-over-year basis. At the same time, however, these businesses seem to be structurally unprofitable. They generatednegative gross profits of $170 millionduring the first quarter, up from a negative gross profit of $80 million during the previous year's quarter.\nIn other words, Tesla's non-auto businesses grew, but lost more money - even before operating expenses and attributable interest expenses are accounted for. I don't see any reason to believe that a business that is regularly losing money on a gross profit basis - i.e. even before R&D, sales, administrative expenses, etc. could become widely profitable in the foreseeable future. On top of that, the fact that gross profits got even further into negative territory despite the added scale shows that this isn't an issue that can be easily solved by growing the business to profitability - at least so far, more growth has led to more losses.\nIt is possible that Tesla is able to eventually turn these businesses around, but the path to that seems quite hard from what we can tell. So far, it looks like these businesses are structurally unprofitable, and it is thus not easy to argue that they should be worth a lot.\nThe Ugly\nTesla isn't a bad company - it has turned from a startup to a market leader in EVs, surpassing many legacy auto companies on the way. The company also managed to build a valuable brand (although some others are still way more valuable). The company should be complemented for these achievements, and I don't think there's a good reason to trash the company.\nWhen we look at Tesla's valuation, however, it seems pretty clear to me that this stock is way overvalued. Tesla is valued at $700+ billion, despite being only marginally profitable without regulatory credit sales. The company, with annual sales of about 800,000 vehicles, is valued at several times as much as Toyota (TM) or Volkswagen (OTCPK:VWAGY), which sell about 10 million vehicles a year each - and they are massively more profitable than Tesla at the same time.\nData by YCharts\nComparing Tesla and Toyota, we see that the latter is valued at roughly 1/20th of how Tesla is valued, relative to the revenues these two companies generate. Massive growth is already priced into Tesla's shares, but it isn't clear whether Tesla will indeed sell many millions of cars in the foreseeable future.\nDue to growing competition from all sides, including legacy auto, new startups, and tech mega-corps such as Apple (AAPL), Tesla's growth could easily slow down in coming years. When we also factor in the weak profitability of Tesla's business once regulatory credit sales have run their course, I don't see any good reason why this company should be valued at anywhere close to $700 billion. I thus believe that Tesla isn't a bad company - but a very overvalued one for sure.\nTakeaway\nTesla's Q1 wasn't outright bad - there were positives, such as average sales prices that beat expectations. There also were negatives, however, that shouldn't be ignored by bulls, such as weak profitability without regulatory credit sales, or the issues in Tesla's non-auto businesses.\nWhen we factor in Tesla's extremely high valuation - the stock trades for more than 1000 times trailing earnings - it seems to me that Tesla is a stock that should be avoided at current prices. If I held a position, I'd lock in gains, as downside risk seems quite pronounced here.","news_type":1},"isVote":1,"tweetType":1,"viewCount":235,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372985766,"gmtCreate":1619168409055,"gmtModify":1704720693618,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Quality and Capability are much more important for the right position other than warming up those seat.","listText":"Quality and Capability are much more important for the right position other than warming up those seat.","text":"Quality and Capability are much more important for the right position other than warming up those seat.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/372985766","repostId":"1143062408","repostType":4,"repost":{"id":"1143062408","pubTimestamp":1619162341,"share":"https://ttm.financial/m/news/1143062408?lang=&edition=fundamental","pubTime":"2021-04-23 15:19","market":"sg","language":"en","title":"Singapore Names Wong as New Finance Minister in Cabinet Shake-Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1143062408","media":"Bloomberg","summary":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his ","content":"<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.</p>\n<p>The appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.</p>\n<p>Since founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.</p>\n<p>Though no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the&nbsp;deputy prime minister role&nbsp;to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.</p>\n<p><b>Covid Leadership</b></p>\n<p>Wong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.</p>\n<p>“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.</p>\n<p>Known for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.</p>\n<p>Before his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.</p>\n<p>Wong began his career as a civil servant, later serving as chief executive of the&nbsp;Energy Market Authority&nbsp;and as principal private secretary to Lee.</p>\n<p>Here are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:</p>\n<ul>\n <li>Gan Kim Yong will be trade and industry minister</li>\n <li>S. Iswaran will be transport minister</li>\n <li>Chan Chun Sing will be education minister</li>\n <li>Ong Ye Kung will be health minister</li>\n <li>Josephine Teo will be communications and information minister, and continue as second minister for home affairs</li>\n <li>Tan See Leng will be manpower minister</li>\n</ul>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Names Wong as New Finance Minister in Cabinet Shake-Up</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\">\nSingapore Names Wong as New Finance Minister in Cabinet Shake-Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 15:19 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-23/singapore-names-wong-finance-minister-in-cabinet-shake-up-cna?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143062408","content_text":"Lawrence Wong was named Singapore’s next finance minister in a cabinetreshuffleFriday, boosting his prominence as the city-state reboots its leadership transition plan.\nThe appointment follows Deputy Prime Minister Heng Swee Keat’s surprise announcement about two weeks ago that he’sstepping asideas the designated successor to Prime Minister Lee Hsien Loong within the People’s Action Party, which has led the country since independence. That forced changes to the long-telegraphed transition, leaving the party to seek a successor among its younger leaders before the next election due by 2025.\nSince founding father Lee Kuan Yew relinquished power some three decades ago, Singapore’s politics have been so well choreographed and predictable that they’re often joked about as dull. Local markets barely budged on Heng’s announcement earlier this month that he was stepping out of the running. Analysts have said they expect Singapore to remain politically stable.\nThough no clear successor to Lee was identified Friday, the finance minister selection could be a signal of who among the party’s “fourth-generation” leaders ultimately might be positioned for the top job. Heng was named finance chief in 2015 and added the deputy prime minister role to his portfolio in 2019. Lee himself was also finance minister previously, though his predecessor Goh Chok Tong didn’t hold that role.\nCovid Leadership\nWong, 48, has seen his profile rise as co-chair of the government task force for fighting Covid-19. His role as second minister for finance provided a smooth path to the ministry’s top job.\n“Lawrence has been assisting Swee Keat as Second Minister since 2016, so he has the experience, and is a natural fit for the job,” Prime Minister Lee said at a briefing Friday.\nKnown for a no-nonsense speaking manner, Wong played a critical role in helping to bring the pandemic under control in Singapore, with measures such as mandatory mask-wearing and strict social gathering rules.\nBefore his appointment as minister of education and second minister of finance after last year’s election, he also oversaw a closely-watched property sector as minister for national development.\nWong began his career as a civil servant, later serving as chief executive of the Energy Market Authority and as principal private secretary to Lee.\nHere are other changes to the cabinet, with the appointments taking effect on May 15, according to a statement:\n\nGan Kim Yong will be trade and industry minister\nS. Iswaran will be transport minister\nChan Chun Sing will be education minister\nOng Ye Kung will be health minister\nJosephine Teo will be communications and information minister, and continue as second minister for home affairs\nTan See Leng will be manpower minister","news_type":1},"isVote":1,"tweetType":1,"viewCount":289,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"content":"None of the G4 Qualify, Only Tharman are the best candidate. I believe majority of our Singaporeans love to pick him as one.","text":"None of the G4 Qualify, Only Tharman are the best candidate. I believe majority of our Singaporeans love to pick him as one.","html":"None of the G4 Qualify, Only Tharman are the best candidate. I believe majority of our Singaporeans love to pick him as one."}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340103081,"gmtCreate":1617348874443,"gmtModify":1704699075784,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"China is moving very super fast on technology. Good to start invest on China. I love China, A leading towards the world.","listText":"China is moving very super fast on technology. Good to start invest on China. I love China, A leading towards the world.","text":"China is moving very super fast on technology. Good to start invest on China. I love China, A leading towards the world.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/340103081","repostId":"1168930514","repostType":4,"repost":{"id":"1168930514","pubTimestamp":1617332876,"share":"https://ttm.financial/m/news/1168930514?lang=&edition=fundamental","pubTime":"2021-04-02 11:07","market":"us","language":"en","title":"Li Auto Inc. March 2021 Delivery Update","url":"https://stock-news.laohu8.com/highlight/detail?id=1168930514","media":"globenewswire","summary":"BEIJING, China, April 02, 2021  -- Li Auto Inc.  , an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to rob","content":"<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.</p><p>As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.</p><p><b>About Li Auto Inc.</b></p><p>Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.</p><p>For more information, please visit:<i>http://ir.lixiang.com</i>.</p>","source":"lsy1573717531661","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Li Auto Inc. March 2021 Delivery Update</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLi Auto Inc. March 2021 Delivery Update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html><strong>globenewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered...</p>\n\n<a href=\"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车"},"source_url":"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168930514","content_text":"BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.About Li Auto Inc.Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.For more information, please visit:http://ir.lixiang.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":158,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3568341343298894","authorId":"3568341343298894","name":"大家好我是王剛88888","avatar":"https://static.tigerbbs.com/d84a1454474c28ae62985e96195561d3","crmLevel":5,"crmLevelSwitch":0,"idStr":"3568341343298894","authorIdStr":"3568341343298894"},"content":"Enter China market not US market to buy china adr. as you can see what American gov doing now. if they cannot compete with you they sanction you... US market is just a big gambling den. win or loss","text":"Enter China market not US market to buy china adr. as you can see what American gov doing now. if they cannot compete with you they sanction you... US market is just a big gambling den. win or loss","html":"Enter China market not US market to buy china adr. as you can see what American gov doing now. if they cannot compete with you they sanction you... US market is just a big gambling den. win or loss"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":899888166,"gmtCreate":1628173573755,"gmtModify":1703502592797,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"So, since short term not in advantage. Trader might invest slowly for long term benefit aswell play on mid&nbsp;term trading hit and run strategy.","listText":"So, since short term not in advantage. Trader might invest slowly for long term benefit aswell play on mid&nbsp;term trading hit and run strategy.","text":"So, since short term not in advantage. Trader might invest slowly for long term benefit aswell play on mid term trading hit and run strategy.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/899888166","repostId":"1175346944","repostType":4,"repost":{"id":"1175346944","pubTimestamp":1628172732,"share":"https://ttm.financial/m/news/1175346944?lang=&edition=fundamental","pubTime":"2021-08-05 22:12","market":"us","language":"en","title":"Tesla's Short-Term Advantages Aren't Enough","url":"https://stock-news.laohu8.com/highlight/detail?id=1175346944","media":"seekingalpha","summary":"Contrary to common belief, Tesla has one main advantage over any competition emerging in the electric vehicle market, set to bolster its near-term prospects.Even so, current lofty valuation leaves little room for upside investment potential.I remain slightly bearish on the company's prospects.Tesla , the undoubted leader in the electric vehicle market, has had the share price run of a lifetime, rising nearly 1,500% over the past 24 months as markets rallied for the post-pandemic surge and the co","content":"<p><b>Summary</b></p>\n<ul>\n <li>Contrary to common belief, Tesla has one main advantage over any competition emerging in the electric vehicle market, set to bolster its near-term prospects.</li>\n <li>Even so, current lofty valuation leaves little room for upside investment potential.</li>\n <li>I remain slightly bearish on the company's prospects.</li>\n</ul>\n<p>Tesla (TSLA), the undoubted leader in the electric vehicle market, has had the share price run of a lifetime, rising nearly 1,500% over the past 24 months as markets rallied for the post-pandemic surge and the company continued reporting solid sales and income growth.</p>\n<p>I've argued in the past that, although the company has several strong long-term growth avenues to pursue, their long-term prospects are dimmed compared to what analysts have projected, given the amount of competition emerging in the EV industry over the course of the next few years.</p>\n<p>But that's a whole other thing than the company's near-term prospects, which I believe are grand relative to some of the established players shifting over to electric vehicle production, as I've highlighted inmy recent articleon Ford (F). These advantages mean that the company will remain superior in the near term when it comes to profitability and diversity within the EV industry and can best utilize the rapid growth rate the entire industry is expecting.</p>\n<p>The Long-Term Headwinds Haven't Changed</p>\n<p>As I've been highlighting for several months now,Tesla's long-term prospects have dimmedsince other automobile companies like Ford and General Motors (GM) in the United States, NIO (NIO) and others in the Asia-Pacific region and other European and South Korean automobile manufacturers moved up their electrification process timelines. The main reason for this is that these companies have very solid brand recognition, and individuals who have owned these models for years or decades have the option to opt for an electric version of those; they choose those over trying out a new untested model a majority of the time.</p>\n<p>With companies like Ford introducing the all-electric F-150 and others, it's unclear how Tesla can maintain this high growth rate beyond 2024 as these models are expected to hit the streets and begin capturing back market share away from Tesla and other current models. Other factors like Tesla opening up their charging station network to all EV models, as well as a massive capital injection into EV charging stations in the most recent infrastructure spending bill in the United States, will surely help Tesla's income when it charges for the use, but it also helps other companies overcome the main hurdle of widespread adoption - clearing a pathway for more and more EV models to emerge.</p>\n<p>The Short-Term Tailwinds Are Emerging</p>\n<p>Tesla has several near-term tailwinds which will keep way ahead of any competition for the next 12 to 24 months. These mostly all boil down to profitability but also focus on various business model advantages.</p>\n<p>1. A positive profit margin: While other companies are just now beginning to invest in transforming their manufacturing facilities from fossil fuel intake engines to electric vehicle production, Tesla has done this and way more efficiently. Since they've built these from scratch, they've mostly automated the process and thus enjoy a much higher profit margin. Other companies won't see a profit per vehicle for years to come.</p>\n<p>2. Surging battery manufacturing: Although other companies have a mixed position on whether to manufacture their own batteries or set up joint ventures with existing companies, Tesla has been churning out batteries for years and have, as similar with the vehicle manufacturing process, nearly fully automated the process to maximize profits per unit.</p>\n<p>3. International manufacturing: Other companies, thus far, have focused on restructuring and transforming current assembly plants in the United States and will likely take several more years before they do so for other international facilities, which means they will need to spend a fortune shipping these new vehicles around the world to the EMEA and the Asia-Pacific. Tesla, on the other hand, has manufacturing facilities in the United States and in China and is set to open their plant in Germany as well as being in final development stages of an India plant, which will allow them to access a much larger market.</p>\n<p>4. Charging stations advantage: Although the new infrastructure bill in the United States, as well as massive investments in countries like Japan and China, are certain to put in hundreds of thousands of new EV charging stations across the globe, this will take time. So far, only Tesla has a real robust charging network across the world. A recent development, which does have negative elements to it as mentioned earlier, has a positive near term one - they will be raking in net profits from allowing other electric vehicles to charge on their network. This means that they'll likely be profiting from each vehicle their competitors churn out, at least until the scaling up of non-Tesla charging stations takes place.</p>\n<p>5. \"Other Business\" growth rate: While other automobile companies are still spending hand over fist on their other models and products, Tesla enjoys being only in high-growth industries like SolarCity's solar panels and battery sales. As I'll expand on in the next segment, they also don't have near-term or long-term financial obligations from these \"other business\" segments as establishment automobile companies have.</p>\n<p>Balance Sheet Advantages</p>\n<p>Although some elements of their balance sheet advantage are set to help them in the long run as well, they're mostly advantages for the short term since once these other companies begin making a profit from their EV sales - a lot of this will be reversed.</p>\n<p>Tesla's main advantage, as mentioned earlier, is that they're actually raking in cash from each car they sell, allowing them to use that cash to continue and set up more manufacturing facilities and invest in battery technology, solar technology and production increases. This is contrary to other automobile companies which have high financial obligations to their other business segments like pensions and leases. This will further aid the company's overall profit margin, while they don't struggle with such obligations.</p>\n<p>These other companies will need to use profits and cash from their existing legacy business segments to pay for their losses on each vehicle they produce, hurting their overall valuation moving forward.</p>\n<p>Although Tesla has $6.9 billion inlong-term debt, a factor which kept many investors on the sidelines as debt racked up, they currently hold just under $16.3 billion in cash and equivalents, making their net debt position negative. They've been using the cash to pay down their debt as well,reducing their interest expense burdenfrom almost $800 million in 2020 to just over $500 million in 2021. Tesla paid back $15 billion in debt in 2021 for a net debt reduction of $6 billion. There's very little doubt that other automobile companies will be forced to take on more debt to finance increased production and in this raising rate environment, that can snowball.</p>\n<p>Tesla is set to seecash flowof around $10 billion annually whereas a company like Ford has been fluctuating between a net positive and negative cash flow status for the past few years, and that's not expected to change through 2025 as they continue to increase investments in the electrification of their vehicles.</p>\n<p>What About Current Valuation</p>\n<p>Analystscurrently expect the company to report EPS of $5.38 for 2021 and grow at a fast pace to reach EPS of $10.33 for 2024. As I mentioned in my earlier article, I believe that, given comparison with other major automobile companies, the company is fairly valued at around 75x forward earnings.</p>\n<p>I do, however, believe that some of the current competition expectations are overblown for the near term, as I've been mentioning throughout the entire article. Therefore, I do believe that Tesla will outperform current expectations at least through 2023. This means that a 75x forward earnings multiple is the ground base for appropriate valuation, I believe.</p>\n<p>This presents the following fair value, with the implied increase potential:</p>\n<p><img src=\"https://static.tigerbbs.com/052968e079d7fe8419e4790de451c9fd\" tg-width=\"620\" tg-height=\"201\" width=\"100%\" height=\"auto\">As you can see, this means that Tesla is almost 40% overvalued relative to earnings expectations, even if they overcome them by as much as 20%. However, given that these expectations are likely to be beaten, I don't believe that shorting the company is a good idea, but one thing that is worth looking out for is a general market correction.</p>\n<p>The Biggest Risk Of Owning Tesla</p>\n<p>The biggest risk with owning Tesla right now is that, in a general market correction, which can happen at any moment as the post-pandemic trade is winding down, companies with lofty expectations tend to fall the most as fair value is sought beyond what their potential is way down the line.</p>\n<p>I don't believe that shorting Tesla is the right approach, even though my disclosures down below and in previous article state that I am, given general market exposure. I am short simply because I don't believe that much upwards potential is there, whilst downward potential in a market correction is vast. So, given that I am mostly long, this short is a general portfolio hedge while I reduce positions in case of a correction.</p>\n<p>In Conclusion</p>\n<p>Tesla has several positive catalysts which should keep them on top of the EV industry growth roster for the next 24 to 36 months, while other companies struggle to make even a single penny on their new vehicles. These are set, I believe, to allow them to beat earnings expectations for that time period.</p>\n<p>Even so, their long-term competitive pressures remain high and as I stated in my previous article - their long-term growth prospects will continue to dim as time moves on.</p>\n<p>Even with these positive near-term advantages, I still believe that the company is overvalued by as much as 40%, and although I do not favor shorting the company for this overvaluation, I remain slightly bearish on their long-term prospects and neutral to slightly bullish on their near-term one.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla's Short-Term Advantages Aren't Enough</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla's Short-Term Advantages Aren't Enough\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-05 22:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4445360-tesla-short-term-advantages-are-not-enough><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nContrary to common belief, Tesla has one main advantage over any competition emerging in the electric vehicle market, set to bolster its near-term prospects.\nEven so, current lofty valuation ...</p>\n\n<a href=\"https://seekingalpha.com/article/4445360-tesla-short-term-advantages-are-not-enough\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4445360-tesla-short-term-advantages-are-not-enough","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1175346944","content_text":"Summary\n\nContrary to common belief, Tesla has one main advantage over any competition emerging in the electric vehicle market, set to bolster its near-term prospects.\nEven so, current lofty valuation leaves little room for upside investment potential.\nI remain slightly bearish on the company's prospects.\n\nTesla (TSLA), the undoubted leader in the electric vehicle market, has had the share price run of a lifetime, rising nearly 1,500% over the past 24 months as markets rallied for the post-pandemic surge and the company continued reporting solid sales and income growth.\nI've argued in the past that, although the company has several strong long-term growth avenues to pursue, their long-term prospects are dimmed compared to what analysts have projected, given the amount of competition emerging in the EV industry over the course of the next few years.\nBut that's a whole other thing than the company's near-term prospects, which I believe are grand relative to some of the established players shifting over to electric vehicle production, as I've highlighted inmy recent articleon Ford (F). These advantages mean that the company will remain superior in the near term when it comes to profitability and diversity within the EV industry and can best utilize the rapid growth rate the entire industry is expecting.\nThe Long-Term Headwinds Haven't Changed\nAs I've been highlighting for several months now,Tesla's long-term prospects have dimmedsince other automobile companies like Ford and General Motors (GM) in the United States, NIO (NIO) and others in the Asia-Pacific region and other European and South Korean automobile manufacturers moved up their electrification process timelines. The main reason for this is that these companies have very solid brand recognition, and individuals who have owned these models for years or decades have the option to opt for an electric version of those; they choose those over trying out a new untested model a majority of the time.\nWith companies like Ford introducing the all-electric F-150 and others, it's unclear how Tesla can maintain this high growth rate beyond 2024 as these models are expected to hit the streets and begin capturing back market share away from Tesla and other current models. Other factors like Tesla opening up their charging station network to all EV models, as well as a massive capital injection into EV charging stations in the most recent infrastructure spending bill in the United States, will surely help Tesla's income when it charges for the use, but it also helps other companies overcome the main hurdle of widespread adoption - clearing a pathway for more and more EV models to emerge.\nThe Short-Term Tailwinds Are Emerging\nTesla has several near-term tailwinds which will keep way ahead of any competition for the next 12 to 24 months. These mostly all boil down to profitability but also focus on various business model advantages.\n1. A positive profit margin: While other companies are just now beginning to invest in transforming their manufacturing facilities from fossil fuel intake engines to electric vehicle production, Tesla has done this and way more efficiently. Since they've built these from scratch, they've mostly automated the process and thus enjoy a much higher profit margin. Other companies won't see a profit per vehicle for years to come.\n2. Surging battery manufacturing: Although other companies have a mixed position on whether to manufacture their own batteries or set up joint ventures with existing companies, Tesla has been churning out batteries for years and have, as similar with the vehicle manufacturing process, nearly fully automated the process to maximize profits per unit.\n3. International manufacturing: Other companies, thus far, have focused on restructuring and transforming current assembly plants in the United States and will likely take several more years before they do so for other international facilities, which means they will need to spend a fortune shipping these new vehicles around the world to the EMEA and the Asia-Pacific. Tesla, on the other hand, has manufacturing facilities in the United States and in China and is set to open their plant in Germany as well as being in final development stages of an India plant, which will allow them to access a much larger market.\n4. Charging stations advantage: Although the new infrastructure bill in the United States, as well as massive investments in countries like Japan and China, are certain to put in hundreds of thousands of new EV charging stations across the globe, this will take time. So far, only Tesla has a real robust charging network across the world. A recent development, which does have negative elements to it as mentioned earlier, has a positive near term one - they will be raking in net profits from allowing other electric vehicles to charge on their network. This means that they'll likely be profiting from each vehicle their competitors churn out, at least until the scaling up of non-Tesla charging stations takes place.\n5. \"Other Business\" growth rate: While other automobile companies are still spending hand over fist on their other models and products, Tesla enjoys being only in high-growth industries like SolarCity's solar panels and battery sales. As I'll expand on in the next segment, they also don't have near-term or long-term financial obligations from these \"other business\" segments as establishment automobile companies have.\nBalance Sheet Advantages\nAlthough some elements of their balance sheet advantage are set to help them in the long run as well, they're mostly advantages for the short term since once these other companies begin making a profit from their EV sales - a lot of this will be reversed.\nTesla's main advantage, as mentioned earlier, is that they're actually raking in cash from each car they sell, allowing them to use that cash to continue and set up more manufacturing facilities and invest in battery technology, solar technology and production increases. This is contrary to other automobile companies which have high financial obligations to their other business segments like pensions and leases. This will further aid the company's overall profit margin, while they don't struggle with such obligations.\nThese other companies will need to use profits and cash from their existing legacy business segments to pay for their losses on each vehicle they produce, hurting their overall valuation moving forward.\nAlthough Tesla has $6.9 billion inlong-term debt, a factor which kept many investors on the sidelines as debt racked up, they currently hold just under $16.3 billion in cash and equivalents, making their net debt position negative. They've been using the cash to pay down their debt as well,reducing their interest expense burdenfrom almost $800 million in 2020 to just over $500 million in 2021. Tesla paid back $15 billion in debt in 2021 for a net debt reduction of $6 billion. There's very little doubt that other automobile companies will be forced to take on more debt to finance increased production and in this raising rate environment, that can snowball.\nTesla is set to seecash flowof around $10 billion annually whereas a company like Ford has been fluctuating between a net positive and negative cash flow status for the past few years, and that's not expected to change through 2025 as they continue to increase investments in the electrification of their vehicles.\nWhat About Current Valuation\nAnalystscurrently expect the company to report EPS of $5.38 for 2021 and grow at a fast pace to reach EPS of $10.33 for 2024. As I mentioned in my earlier article, I believe that, given comparison with other major automobile companies, the company is fairly valued at around 75x forward earnings.\nI do, however, believe that some of the current competition expectations are overblown for the near term, as I've been mentioning throughout the entire article. Therefore, I do believe that Tesla will outperform current expectations at least through 2023. This means that a 75x forward earnings multiple is the ground base for appropriate valuation, I believe.\nThis presents the following fair value, with the implied increase potential:\nAs you can see, this means that Tesla is almost 40% overvalued relative to earnings expectations, even if they overcome them by as much as 20%. However, given that these expectations are likely to be beaten, I don't believe that shorting the company is a good idea, but one thing that is worth looking out for is a general market correction.\nThe Biggest Risk Of Owning Tesla\nThe biggest risk with owning Tesla right now is that, in a general market correction, which can happen at any moment as the post-pandemic trade is winding down, companies with lofty expectations tend to fall the most as fair value is sought beyond what their potential is way down the line.\nI don't believe that shorting Tesla is the right approach, even though my disclosures down below and in previous article state that I am, given general market exposure. I am short simply because I don't believe that much upwards potential is there, whilst downward potential in a market correction is vast. So, given that I am mostly long, this short is a general portfolio hedge while I reduce positions in case of a correction.\nIn Conclusion\nTesla has several positive catalysts which should keep them on top of the EV industry growth roster for the next 24 to 36 months, while other companies struggle to make even a single penny on their new vehicles. These are set, I believe, to allow them to beat earnings expectations for that time period.\nEven so, their long-term competitive pressures remain high and as I stated in my previous article - their long-term growth prospects will continue to dim as time moves on.\nEven with these positive near-term advantages, I still believe that the company is overvalued by as much as 40%, and although I do not favor shorting the company for this overvaluation, I remain slightly bearish on their long-term prospects and neutral to slightly bullish on their near-term one.","news_type":1},"isVote":1,"tweetType":1,"viewCount":182,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374859868,"gmtCreate":1619440018154,"gmtModify":1704723863289,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Avoiding Taxes, profitable companies might investing into bitcoin Crypto.","listText":"Avoiding Taxes, profitable companies might investing into bitcoin Crypto.","text":"Avoiding Taxes, profitable companies might investing into bitcoin Crypto.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/374859868","repostId":"1168057784","repostType":4,"repost":{"id":"1168057784","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":1619439203,"share":"https://ttm.financial/m/news/1168057784?lang=&edition=fundamental","pubTime":"2021-04-26 20:13","market":"us","language":"en","title":"Toplines Before US Market Open on Monday","url":"https://stock-news.laohu8.com/highlight/detail?id=1168057784","media":"Tiger Newspress","summary":"U.S. stock futures traded mixed in early pre-market trade after the Dow Jones climbed more than 200 ","content":"<p>U.S. stock futures traded mixed in early pre-market trade after the Dow Jones climbed more than 200 points in the previous session.</p><p>Futures for the Dow Jones Industrial Average gained 48 points to 33,989.00 while the Standard &amp; Poor’s 500 index futures fell 0.75 points at 4,170.75. Futures for the Nasdaq 100 index fell 31 points to 13,896.00.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/647a449c24289f66f77437a358bc76be\" tg-width=\"1242\" tg-height=\"398\"><span>*Source From Tiger Trade, EST 08:13</span></p><p>A third of S&amp;P 500 companies are set to report quarterly results in the final week of April, including Apple, Microsoft, Amazon, Facebook and Google-parent Alphabet. Last week, the Dow Jones Industrial Average, S&amp;P 500 and Nasdaq broke multiweek winning streaks with modest losses despite Friday's rally.</p><p><b><i>Take a look at some of the biggest movers in the premarket:</i></b></p><p>Albertsons(ACI) – The grocery store operator came in 9 cents a share ahead of consensus, with quarterly profit of 60 cents per share. Revenue also beat estimates. Albertsons predicted comparable sales for the current fiscal year falling between 6% and 7.5%. The stock was down 1.5% in premarket trading.</p><p>Otis Worldwide(OTIS) – The maker of elevators and escalators beat estimates by 9 cents a share, with quarterly earnings of 72 cents per share. Revenue came in above forecasts as well. Otis also raised its full-year forecast as organic sales continue to improve. Its stock jumped 5.2% in the premarket.</p><p>Johnson &amp; Johnson(JNJ) – States began administering Johnson &amp; Johnson's Covid-19 vaccine over the weekend after federal regulatorsrecommended that a pause be lifted. Separately, J&amp;J is reviving plans to sell its Mentor Worldwide breast implant unit, according to a Bloomberg report. Those plans were put on hold last year due to the pandemic.</p><p>Apple(AAPL) – Appleannounced plans to invest $430 billionto expand its U.S. footprint and create 20,000 new jobs across the country over the next five years. It will invest in a variety of areas including semiconductors and 5G technology.</p><p>Check Point Software(CHKP) – Check Point reported quarterly earnings of $1.54 per share, 4 cents a share above estimates. Revenue topped Wall Street forecasts amid elevated demand for its cybersecurity solutions as many employees continued to work from home.</p><p>Flagstar Bancorp(FBC) –New York Community Bancorp(NYCB) will acquire its fellow regional bank in an all-stock deal valued at about $2.6 billion. Michigan-based Flagstar saw its stock surge 3.6% in the premarket.</p><p>Pearson(PSO) – Pearson reported better-than-expected profit for its latest quarter, with the online education company seeing improved sales of digital course materials and eBooks. The stock jumped 3.1% in premarket action.</p><p>Philips(PHG) – Philips lifted its full-year forecast after the Dutch health equipment maker reported better-than-expected profit and revenue for its latest quarter. Philips also said it expected growth in its Connected Care unit to slow this year, and put aside 250 million euros for possible risks related to its respiratory care devices. Its stock slid 3.7% in premarket trading.</p><p>Kansas City Southern(KSU) – Kansas City Southern said it would open talks withCanadian National Railway(CNI), even though the rail operator said it remained bound by the terms of a takeover agreementCanadian Pacific Railway(CP). The Canadian National deal is worth $325 per share in cash and stock, compared to $275 for the Canadian Pacific offer.</p><p>Sinclair Broadcast(SBGI) – Sinclair is evaluating proposals for reworking the debt of its regional sports network unit, according to a Bloomberg report. The TV station operator is also said to be in talks with two sports betting companies for marketing partnerships, similar to the deal it struck last year withBally’s(BALY).</p><p>Coinbase(COIN) – Coinbase shares jumped 4.3% in premarket trading, with the cryptocurrency exchange’s shares moving in conjunction with a rebound in the price of bitcoin this morning.</p><p>Etsy(ETSY) – The online crafts marketplace was downgraded to “sector weight” from “overweight” at KeyBanc Capital Markets, even though KeyBanc praises Etsy’s long-term growth prospects. It said, however, that there is a lower near-term likelihood of positive earnings revisions. Etsy fell 1.7% in the premarket.</p><p>Discover Financial(DFS) – The financial services company’s stock rose 1.6% in premarket action after Bank of America Securities upgraded it to “buy” from “neutral.” The firm points to strong fundamentals which it thinks are being obscured in part by potentially higher operating expenses and uncertain prospects for loan 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>Toplines Before US Market Open on Monday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Monday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-26 20:13</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>U.S. stock futures traded mixed in early pre-market trade after the Dow Jones climbed more than 200 points in the previous session.</p><p>Futures for the Dow Jones Industrial Average gained 48 points to 33,989.00 while the Standard &amp; Poor’s 500 index futures fell 0.75 points at 4,170.75. Futures for the Nasdaq 100 index fell 31 points to 13,896.00.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/647a449c24289f66f77437a358bc76be\" tg-width=\"1242\" tg-height=\"398\"><span>*Source From Tiger Trade, EST 08:13</span></p><p>A third of S&amp;P 500 companies are set to report quarterly results in the final week of April, including Apple, Microsoft, Amazon, Facebook and Google-parent Alphabet. Last week, the Dow Jones Industrial Average, S&amp;P 500 and Nasdaq broke multiweek winning streaks with modest losses despite Friday's rally.</p><p><b><i>Take a look at some of the biggest movers in the premarket:</i></b></p><p>Albertsons(ACI) – The grocery store operator came in 9 cents a share ahead of consensus, with quarterly profit of 60 cents per share. Revenue also beat estimates. Albertsons predicted comparable sales for the current fiscal year falling between 6% and 7.5%. The stock was down 1.5% in premarket trading.</p><p>Otis Worldwide(OTIS) – The maker of elevators and escalators beat estimates by 9 cents a share, with quarterly earnings of 72 cents per share. Revenue came in above forecasts as well. Otis also raised its full-year forecast as organic sales continue to improve. Its stock jumped 5.2% in the premarket.</p><p>Johnson &amp; Johnson(JNJ) – States began administering Johnson &amp; Johnson's Covid-19 vaccine over the weekend after federal regulatorsrecommended that a pause be lifted. Separately, J&amp;J is reviving plans to sell its Mentor Worldwide breast implant unit, according to a Bloomberg report. Those plans were put on hold last year due to the pandemic.</p><p>Apple(AAPL) – Appleannounced plans to invest $430 billionto expand its U.S. footprint and create 20,000 new jobs across the country over the next five years. It will invest in a variety of areas including semiconductors and 5G technology.</p><p>Check Point Software(CHKP) – Check Point reported quarterly earnings of $1.54 per share, 4 cents a share above estimates. Revenue topped Wall Street forecasts amid elevated demand for its cybersecurity solutions as many employees continued to work from home.</p><p>Flagstar Bancorp(FBC) –New York Community Bancorp(NYCB) will acquire its fellow regional bank in an all-stock deal valued at about $2.6 billion. Michigan-based Flagstar saw its stock surge 3.6% in the premarket.</p><p>Pearson(PSO) – Pearson reported better-than-expected profit for its latest quarter, with the online education company seeing improved sales of digital course materials and eBooks. The stock jumped 3.1% in premarket action.</p><p>Philips(PHG) – Philips lifted its full-year forecast after the Dutch health equipment maker reported better-than-expected profit and revenue for its latest quarter. Philips also said it expected growth in its Connected Care unit to slow this year, and put aside 250 million euros for possible risks related to its respiratory care devices. Its stock slid 3.7% in premarket trading.</p><p>Kansas City Southern(KSU) – Kansas City Southern said it would open talks withCanadian National Railway(CNI), even though the rail operator said it remained bound by the terms of a takeover agreementCanadian Pacific Railway(CP). The Canadian National deal is worth $325 per share in cash and stock, compared to $275 for the Canadian Pacific offer.</p><p>Sinclair Broadcast(SBGI) – Sinclair is evaluating proposals for reworking the debt of its regional sports network unit, according to a Bloomberg report. The TV station operator is also said to be in talks with two sports betting companies for marketing partnerships, similar to the deal it struck last year withBally’s(BALY).</p><p>Coinbase(COIN) – Coinbase shares jumped 4.3% in premarket trading, with the cryptocurrency exchange’s shares moving in conjunction with a rebound in the price of bitcoin this morning.</p><p>Etsy(ETSY) – The online crafts marketplace was downgraded to “sector weight” from “overweight” at KeyBanc Capital Markets, even though KeyBanc praises Etsy’s long-term growth prospects. It said, however, that there is a lower near-term likelihood of positive earnings revisions. Etsy fell 1.7% in the premarket.</p><p>Discover Financial(DFS) – The financial services company’s stock rose 1.6% in premarket action after Bank of America Securities upgraded it to “buy” from “neutral.” The firm points to strong fundamentals which it thinks are being obscured in part by potentially higher operating expenses and uncertain prospects for loan growth.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168057784","content_text":"U.S. stock futures traded mixed in early pre-market trade after the Dow Jones climbed more than 200 points in the previous session.Futures for the Dow Jones Industrial Average gained 48 points to 33,989.00 while the Standard & Poor’s 500 index futures fell 0.75 points at 4,170.75. Futures for the Nasdaq 100 index fell 31 points to 13,896.00.*Source From Tiger Trade, EST 08:13A third of S&P 500 companies are set to report quarterly results in the final week of April, including Apple, Microsoft, Amazon, Facebook and Google-parent Alphabet. Last week, the Dow Jones Industrial Average, S&P 500 and Nasdaq broke multiweek winning streaks with modest losses despite Friday's rally.Take a look at some of the biggest movers in the premarket:Albertsons(ACI) – The grocery store operator came in 9 cents a share ahead of consensus, with quarterly profit of 60 cents per share. Revenue also beat estimates. Albertsons predicted comparable sales for the current fiscal year falling between 6% and 7.5%. The stock was down 1.5% in premarket trading.Otis Worldwide(OTIS) – The maker of elevators and escalators beat estimates by 9 cents a share, with quarterly earnings of 72 cents per share. Revenue came in above forecasts as well. Otis also raised its full-year forecast as organic sales continue to improve. Its stock jumped 5.2% in the premarket.Johnson & Johnson(JNJ) – States began administering Johnson & Johnson's Covid-19 vaccine over the weekend after federal regulatorsrecommended that a pause be lifted. Separately, J&J is reviving plans to sell its Mentor Worldwide breast implant unit, according to a Bloomberg report. Those plans were put on hold last year due to the pandemic.Apple(AAPL) – Appleannounced plans to invest $430 billionto expand its U.S. footprint and create 20,000 new jobs across the country over the next five years. It will invest in a variety of areas including semiconductors and 5G technology.Check Point Software(CHKP) – Check Point reported quarterly earnings of $1.54 per share, 4 cents a share above estimates. Revenue topped Wall Street forecasts amid elevated demand for its cybersecurity solutions as many employees continued to work from home.Flagstar Bancorp(FBC) –New York Community Bancorp(NYCB) will acquire its fellow regional bank in an all-stock deal valued at about $2.6 billion. Michigan-based Flagstar saw its stock surge 3.6% in the premarket.Pearson(PSO) – Pearson reported better-than-expected profit for its latest quarter, with the online education company seeing improved sales of digital course materials and eBooks. The stock jumped 3.1% in premarket action.Philips(PHG) – Philips lifted its full-year forecast after the Dutch health equipment maker reported better-than-expected profit and revenue for its latest quarter. Philips also said it expected growth in its Connected Care unit to slow this year, and put aside 250 million euros for possible risks related to its respiratory care devices. Its stock slid 3.7% in premarket trading.Kansas City Southern(KSU) – Kansas City Southern said it would open talks withCanadian National Railway(CNI), even though the rail operator said it remained bound by the terms of a takeover agreementCanadian Pacific Railway(CP). The Canadian National deal is worth $325 per share in cash and stock, compared to $275 for the Canadian Pacific offer.Sinclair Broadcast(SBGI) – Sinclair is evaluating proposals for reworking the debt of its regional sports network unit, according to a Bloomberg report. The TV station operator is also said to be in talks with two sports betting companies for marketing partnerships, similar to the deal it struck last year withBally’s(BALY).Coinbase(COIN) – Coinbase shares jumped 4.3% in premarket trading, with the cryptocurrency exchange’s shares moving in conjunction with a rebound in the price of bitcoin this morning.Etsy(ETSY) – The online crafts marketplace was downgraded to “sector weight” from “overweight” at KeyBanc Capital Markets, even though KeyBanc praises Etsy’s long-term growth prospects. It said, however, that there is a lower near-term likelihood of positive earnings revisions. Etsy fell 1.7% in the premarket.Discover Financial(DFS) – The financial services company’s stock rose 1.6% in premarket action after Bank of America Securities upgraded it to “buy” from “neutral.” The firm points to strong fundamentals which it thinks are being obscured in part by potentially higher operating expenses and uncertain prospects for loan growth.","news_type":1},"isVote":1,"tweetType":1,"viewCount":136,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376007604,"gmtCreate":1619066993908,"gmtModify":1704719135754,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Good news, it encourage Tesla for working out better and increase benefits for shareholders confidence and trust for this company.Time for buy !!!","listText":"Good news, it encourage Tesla for working out better and increase benefits for shareholders confidence and trust for this company.Time for buy !!!","text":"Good news, it encourage Tesla for working out better and increase benefits for shareholders confidence and trust for this company.Time for buy !!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376007604","repostId":"1143508710","repostType":4,"repost":{"id":"1143508710","pubTimestamp":1619063972,"share":"https://ttm.financial/m/news/1143508710?lang=&edition=fundamental","pubTime":"2021-04-22 11:59","market":"us","language":"en","title":"Two Companies Will Reach $2 Trillion Next (Tesla Isn't One)","url":"https://stock-news.laohu8.com/highlight/detail?id=1143508710","media":"investors","summary":"S&P 500 companies' race to a $2 trillion market value is about to get more exciting — andlots of money is being made on the way.The race to $2 trillion got all the more real Wednesday. Shares of Microsoft leapt nearly 0.9% t0 260.58 a share. That's a new all-time high for the stock, taking out the previous high of 246.10 and topping even its value at the height of the 2000s dot-com boom. It also lifts the company's value to $1.97 trillion.Following a 17.2% rally this year, Microsoft is now the S","content":"<p>S&amp;P 500 companies' race to a $2 trillion market value is about to get more exciting — andlots of money is being made on the way.</p><p>Analysts are already calling for two S&amp;P 500 companies, technology giant<b>Microsoft</b>(MSFT) and consumer discretionary<b>Amazon.com</b>(AMZN), to be the next to reach a market value of $2 trillion or more, says an Investor's Business Daily analysis of data from S&amp;P Global Market Intelligence andMarketSmith.</p><p>The race to $2 trillion got all the more real Wednesday. Shares of Microsoft leapt nearly 0.9% t0 260.58 a share. That's a new all-time high for the stock, taking out the previous high of 246.10 and topping even its value at the height of the 2000s dot-com boom. It also lifts the company's value to $1.97 trillion.</p><p>Following a 17.2% rally this year, Microsoft is now the S&amp;P 500's second-most valuable member. Next up? Two trillion.</p><p>S&amp;P 500's Race To $2 Trillion</p><p>The fact two S&amp;P 500 companies are sprinting to a $2 trillion valuation speaks volumes of how technology is driving the market again. And the stakes are huge as the market value of mega technology firms determines the composition of the world'smost popular index: The S&amp;P 500.</p><p><b>Apple</b>(AAPL) reached the $2 trillion market value threshold first, less than a year ago, on Aug. 26, 2020, says S&amp;P Global data. That means it took about two years for Apple to hit $2 trillion in market value after reaching a $1 trillion value on Aug. 3, 2018. It took Apple roughly 40 years to reach a trillion in market value.</p><p>And now it's Microsoft's turn. Analysts think shares of the company behind Microsoft 365 productivity software like Word, and cloud computing, will worth 276.88 in 12 months. If they're right, that implies a market value of $2.09 trillion in a year's time or less. It's also an implied gain of 6.3% from here.</p><p>It's not just wild speculation, either. Analysts think Microsoft will earn $7.37 a share in fiscal 2021 ended in June. That's nearly 28% higher than in the same period in 2020. Do you knowwhat to look at before you buy Microsoft stock?</p><p>Amazon: Close On Microsoft's Heels To $2 Trillion</p><p>Hot on Microsoft's heels, though, on the way to $2 trillion is Amazon. It's only a matter of time for it, too, analysts say.</p><p>S&amp;P 500 analysts are calling for Amazon stock to surge more than 25% in the next 12 months to 4,036.72 a share. It closed Wednesday up 0.8% to 3,362.02. If analysts are right, that would put Amazon's value at $2.03 trillion in less than a year.</p><p>And that would be a welcomechange for Amazon investors. Shares have lagged so far this year, gaining 3% even as the S&amp;P 500 rose 11%. That's serious underperformance for a stock that's been a leader for so long. Even so, Amazon's stock is outperforming Apple's, which is still up just 0.6% this year so far.</p><p>Who's Next In S&amp;P 500 To $2 Trillion? Not Tesla</p><p>Analysts are stillmuch more cautiouson shares of electric-car maker<b>Tesla</b>(TSLA), despite strong shipment data. The stock, now trading at 744.12 a share, is expected to fall more than 10% until sinking to analysts' 12-month price target of 637.88. And at that price, Tesla would only be worth $612 billion. Tesla stock is up just 5.4% this year so far.</p><p>In fact, Tesla is expected to only be the seventh most valuable in the S&amp;P 500 in 12 months.<b>Alphabet</b>(GOOGL),<b>Facebook</b>(FB) and<b>Berkshire Hathaway</b>(BRKB) are all seen having higher market values than Tesla by then.</p><p>But the race to $2 trillion is likely to hold plenty of surprises.</p><p><b>S&amp;P 500 On Race To $2 Trillion</b></p><p><i>Market valuation now, and based on analysts' 12-month price targets</i></p><p><img src=\"https://static.tigerbbs.com/fa659feef02bd0dd9bf30739234a6f0c\" tg-width=\"818\" tg-height=\"654\" referrerpolicy=\"no-referrer\"></p><p></p>","source":"lsy1610449120050","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Two Companies Will Reach $2 Trillion Next (Tesla Isn't One)</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\">\nTwo Companies Will Reach $2 Trillion Next (Tesla Isn't One)\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-22 11:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.investors.com/etfs-and-funds/sectors/sp500-two-companies-next-hit-2-trillion-tesla-isnt-one/?src=A00220><strong>investors</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>S&P 500 companies' race to a $2 trillion market value is about to get more exciting — andlots of money is being made on the way.Analysts are already calling for two S&P 500 companies, technology ...</p>\n\n<a href=\"https://www.investors.com/etfs-and-funds/sectors/sp500-two-companies-next-hit-2-trillion-tesla-isnt-one/?src=A00220\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","MSFT":"微软"},"source_url":"https://www.investors.com/etfs-and-funds/sectors/sp500-two-companies-next-hit-2-trillion-tesla-isnt-one/?src=A00220","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1143508710","content_text":"S&P 500 companies' race to a $2 trillion market value is about to get more exciting — andlots of money is being made on the way.Analysts are already calling for two S&P 500 companies, technology giantMicrosoft(MSFT) and consumer discretionaryAmazon.com(AMZN), to be the next to reach a market value of $2 trillion or more, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence andMarketSmith.The race to $2 trillion got all the more real Wednesday. Shares of Microsoft leapt nearly 0.9% t0 260.58 a share. That's a new all-time high for the stock, taking out the previous high of 246.10 and topping even its value at the height of the 2000s dot-com boom. It also lifts the company's value to $1.97 trillion.Following a 17.2% rally this year, Microsoft is now the S&P 500's second-most valuable member. Next up? Two trillion.S&P 500's Race To $2 TrillionThe fact two S&P 500 companies are sprinting to a $2 trillion valuation speaks volumes of how technology is driving the market again. And the stakes are huge as the market value of mega technology firms determines the composition of the world'smost popular index: The S&P 500.Apple(AAPL) reached the $2 trillion market value threshold first, less than a year ago, on Aug. 26, 2020, says S&P Global data. That means it took about two years for Apple to hit $2 trillion in market value after reaching a $1 trillion value on Aug. 3, 2018. It took Apple roughly 40 years to reach a trillion in market value.And now it's Microsoft's turn. Analysts think shares of the company behind Microsoft 365 productivity software like Word, and cloud computing, will worth 276.88 in 12 months. If they're right, that implies a market value of $2.09 trillion in a year's time or less. It's also an implied gain of 6.3% from here.It's not just wild speculation, either. Analysts think Microsoft will earn $7.37 a share in fiscal 2021 ended in June. That's nearly 28% higher than in the same period in 2020. Do you knowwhat to look at before you buy Microsoft stock?Amazon: Close On Microsoft's Heels To $2 TrillionHot on Microsoft's heels, though, on the way to $2 trillion is Amazon. It's only a matter of time for it, too, analysts say.S&P 500 analysts are calling for Amazon stock to surge more than 25% in the next 12 months to 4,036.72 a share. It closed Wednesday up 0.8% to 3,362.02. If analysts are right, that would put Amazon's value at $2.03 trillion in less than a year.And that would be a welcomechange for Amazon investors. Shares have lagged so far this year, gaining 3% even as the S&P 500 rose 11%. That's serious underperformance for a stock that's been a leader for so long. Even so, Amazon's stock is outperforming Apple's, which is still up just 0.6% this year so far.Who's Next In S&P 500 To $2 Trillion? Not TeslaAnalysts are stillmuch more cautiouson shares of electric-car makerTesla(TSLA), despite strong shipment data. The stock, now trading at 744.12 a share, is expected to fall more than 10% until sinking to analysts' 12-month price target of 637.88. And at that price, Tesla would only be worth $612 billion. Tesla stock is up just 5.4% this year so far.In fact, Tesla is expected to only be the seventh most valuable in the S&P 500 in 12 months.Alphabet(GOOGL),Facebook(FB) andBerkshire Hathaway(BRKB) are all seen having higher market values than Tesla by then.But the race to $2 trillion is likely to hold plenty of surprises.S&P 500 On Race To $2 TrillionMarket valuation now, and based on analysts' 12-month price targets","news_type":1},"isVote":1,"tweetType":1,"viewCount":432,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348214411,"gmtCreate":1617931847033,"gmtModify":1704704953381,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Time for rotations play, Take profit on Singapore and vest onto S&amp;P","listText":"Time for rotations play, Take profit on Singapore and vest onto S&amp;P","text":"Time for rotations play, Take profit on Singapore and vest onto S&P","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/348214411","repostId":"2126709116","repostType":4,"repost":{"id":"2126709116","pubTimestamp":1617913347,"share":"https://ttm.financial/m/news/2126709116?lang=&edition=fundamental","pubTime":"2021-04-09 04:22","market":"us","language":"en","title":"S&P closes at record on tech boost as U.S. Treasury yields retreat","url":"https://stock-news.laohu8.com/highlight/detail?id=2126709116","media":"Reuters","summary":"Tech leads sector gainersGrowth stocks outperform value stocksCanopy Growth down on deal to buy Supr","content":"<ul><li>Tech leads sector gainers</li><li>Growth stocks outperform value stocks</li><li>Canopy Growth down on deal to buy Supreme Cannabis</li><li>Dow up 0.17%, S&amp;P 500 up 0.42%, Nasdaq up 1.03% (New throughout, updates prices, market activity and comments to market close)</li></ul><p>NEW YORK, April 8 (Reuters) - The S&amp;P 500 closed at a record high on Thursday, as U.S. Treasury yields fell following softer-than-anticipated labor market data, boosting technology and other growth stocks.</p><p>Weekly initial jobless claims data showed a second straight rise, conflicting with the recent payrolls report, and buttressed the Federal Reserve's dovish policy stance to keep interest rates lower for a substantial period.</p><p>Federal Reserve Chair Jerome Powell signaled on Wednesday the central bank is nowhere near reducing support for the U.S. economy, saying an expected rise in prices this year is likely to be temporary.</p><p>The softer data helped yields on the benchmark 10-year U.S. Treasury note fall as low as 1.624%, its lowest level since March 26, as it continues to back away from a 14-month high of 1.776% hit in late March.</p><p>\"Wall Street rewards growth, that doesn’t mean value names will never go up, they will go up because they have more growth prospects than their neighbors, that is what this whole thing is predicated on,\" said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.</p><p>\"It was kind of ridiculous that bond yields were preceding runaway inflation and that was not the case, so tech lives another day.\"</p><p>The Dow Jones Industrial Average rose 57.31 points, or 0.17%, to 33,503.57, the S&amp;P 500 gained 17.22 points, or 0.42%, to 4,097.17 and the Nasdaq Composite added 140.47 points, or 1.03%, to 13,829.31.</p><p>The recent pullback in yields has helped high growth names such as those in technology, the sector that posted the session's biggest rise. Megacap stocks such as Apple , Microsoft and Amazon were the biggest boosts to the S&amp;P 500.</p><p>The gains sent the tech-heavy Nasdaq to a seven-week high and within 2% of its Feb. 12 record closing high.</p><p>The Russell 1000 growth index, which consists heavily of tech-related stocks, gained 1.05%. Its value counterpart , comprising mostly financials and energy names, edged 0.05% lower.</p><p>Trading activity has tapered off, with the four lowest volume days of the year occurring this week ahead of first-quarter earnings season next week with results from big U.S. banks on tap. Analysts have raised expectations for first-quarter S&amp;P 500 earnings increase to 24.2%, according to Refinitiv IBES data as of April 1, versus 21% forecast on Feb. 5.</p><p>Tesla Inc advanced 1.91% on the Joe Biden administration's $174 billion proposal to boost electric vehicles.</p><p>U.S. shares of Canopy Growth Corp dropped 4.81% on a deal to buy rival Supreme Cannabis Co Inc for C$323.3 million ($256.9 million), as the world's biggest cannabis producer bolstered its portfolio to tap surging demand.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 2.13-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 77 new highs and 29 new lows.</p><p>Volume on U.S. exchanges was 9.23 billion shares, compared with the 11.93 billion average for the full session over the last 20 trading days.</p><p>(Reporting by Chuck Mikolajczak; Editing by David Gregorio)</p>","source":"yahoofinance","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>S&P closes at record on tech boost as U.S. Treasury yields retreat</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\">\nS&P closes at record on tech boost as U.S. Treasury yields retreat\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 04:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/us-stocks-p-closes-record-202227958.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tech leads sector gainersGrowth stocks outperform value stocksCanopy Growth down on deal to buy Supreme CannabisDow up 0.17%, S&P 500 up 0.42%, Nasdaq up 1.03% (New throughout, updates prices, market ...</p>\n\n<a href=\"https://finance.yahoo.com/news/us-stocks-p-closes-record-202227958.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COMP":"Compass, Inc."},"source_url":"https://finance.yahoo.com/news/us-stocks-p-closes-record-202227958.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2126709116","content_text":"Tech leads sector gainersGrowth stocks outperform value stocksCanopy Growth down on deal to buy Supreme CannabisDow up 0.17%, S&P 500 up 0.42%, Nasdaq up 1.03% (New throughout, updates prices, market activity and comments to market close)NEW YORK, April 8 (Reuters) - The S&P 500 closed at a record high on Thursday, as U.S. Treasury yields fell following softer-than-anticipated labor market data, boosting technology and other growth stocks.Weekly initial jobless claims data showed a second straight rise, conflicting with the recent payrolls report, and buttressed the Federal Reserve's dovish policy stance to keep interest rates lower for a substantial period.Federal Reserve Chair Jerome Powell signaled on Wednesday the central bank is nowhere near reducing support for the U.S. economy, saying an expected rise in prices this year is likely to be temporary.The softer data helped yields on the benchmark 10-year U.S. Treasury note fall as low as 1.624%, its lowest level since March 26, as it continues to back away from a 14-month high of 1.776% hit in late March.\"Wall Street rewards growth, that doesn’t mean value names will never go up, they will go up because they have more growth prospects than their neighbors, that is what this whole thing is predicated on,\" said Kim Forrest, chief investment officer at Bokeh Capital Partners in Pittsburgh.\"It was kind of ridiculous that bond yields were preceding runaway inflation and that was not the case, so tech lives another day.\"The Dow Jones Industrial Average rose 57.31 points, or 0.17%, to 33,503.57, the S&P 500 gained 17.22 points, or 0.42%, to 4,097.17 and the Nasdaq Composite added 140.47 points, or 1.03%, to 13,829.31.The recent pullback in yields has helped high growth names such as those in technology, the sector that posted the session's biggest rise. Megacap stocks such as Apple , Microsoft and Amazon were the biggest boosts to the S&P 500.The gains sent the tech-heavy Nasdaq to a seven-week high and within 2% of its Feb. 12 record closing high.The Russell 1000 growth index, which consists heavily of tech-related stocks, gained 1.05%. Its value counterpart , comprising mostly financials and energy names, edged 0.05% lower.Trading activity has tapered off, with the four lowest volume days of the year occurring this week ahead of first-quarter earnings season next week with results from big U.S. banks on tap. Analysts have raised expectations for first-quarter S&P 500 earnings increase to 24.2%, according to Refinitiv IBES data as of April 1, versus 21% forecast on Feb. 5.Tesla Inc advanced 1.91% on the Joe Biden administration's $174 billion proposal to boost electric vehicles.U.S. shares of Canopy Growth Corp dropped 4.81% on a deal to buy rival Supreme Cannabis Co Inc for C$323.3 million ($256.9 million), as the world's biggest cannabis producer bolstered its portfolio to tap surging demand.Advancing issues outnumbered declining ones on the NYSE by a 1.80-to-1 ratio; on Nasdaq, a 2.13-to-1 ratio favored advancers.The S&P 500 posted 36 new 52-week highs and 1 new lows; the Nasdaq Composite recorded 77 new highs and 29 new lows.Volume on U.S. exchanges was 9.23 billion shares, compared with the 11.93 billion average for the full session over the last 20 trading days.(Reporting by Chuck Mikolajczak; Editing by David Gregorio)","news_type":1},"isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":348896196,"gmtCreate":1617900887115,"gmtModify":1704704649179,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Time will tell.&nbsp;","listText":"Time will tell.&nbsp;","text":"Time will tell.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/348896196","repostId":"1101689800","repostType":4,"repost":{"id":"1101689800","pubTimestamp":1617896048,"share":"https://ttm.financial/m/news/1101689800?lang=&edition=fundamental","pubTime":"2021-04-08 23:34","market":"us","language":"en","title":"Tesla: Why Its Deliveries Beat Means Nothing","url":"https://stock-news.laohu8.com/highlight/detail?id=1101689800","media":"seekingalpha","summary":"Summary\n\nTesla beat sales estimates during Q1, which was a surprise to most.\nBut in the grand scheme","content":"<p><b>Summary</b></p>\n<ul>\n <li>Tesla beat sales estimates during Q1, which was a surprise to most.</li>\n <li>But in the grand scheme of things, this doesn't really change anything. At around $700 billion, Tesla is too expensive.</li>\n <li>Looking closer, Tesla may actually have lost more market share in Q1, despite growing sales meaningfully year over year. Many peers grew their deliveries much more than Tesla.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/b41a4e8e9d9664a78be68e0649d0dec5\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Dean Mouhtaropoulos/Getty Images News via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>Tesla (TSLA) beat delivery estimates for the first quarter, showing strong growth year over year. A closer look, however, shows that this may not be too significant, as Tesla possibly even lost market share despite the solid year-over-year performance. Overall, beating sales estimates by a couple of thousand cars doesn't change the fact that shares are looking very expensive and are, I believe, quite overvalued.</p>\n<p><b>Tesla's Q1 Deliveries Beat</b></p>\n<p>First things first, Tesla should be applauded for delivering not only new record vehicle sales for a fiscal Q1 but also a small sequential increase in deliveries, which is not typical for the Q4-Q1 comparison. Tesla also managed to&nbsp;easily beat&nbsp;delivery estimates, which was, again, a strong showing from the company on an operational basis. I mention these positives because my rather bearish position regarding the company's stock is not based on a belief that the company is weak operationally, or that it will go bankrupt, or anything like that. Instead, I think that Tesla is a leading player in the growing EV market, but that its stock is just way too expensive. In general, solid to strong operational results have to be expected from Tesla, as well as from most other EV players, but that doesn't necessarily change the thesis -- Tesla can still be way overvalued, even if it churns out compelling results operationally.</p>\n<p>Nevertheless, it makes sense to take a deeper dive into the delivery numbers and what they mean for Tesla. Despite the fact that Tesla was able to grow deliveries by a highly compelling 110%, not everything is perfect when it comes to deliveries. Three key points come to mind:</p>\n<p><b>1. Deliveries outpaced production</b></p>\n<p>This is a positive when it comes to cash flow generation, as Tesla liquidated some of its assets (finished products) and turned them into cash. However, production standing at 180,000 for the quarter also means that Tesla is, from what we see right now, not on track for the production of&nbsp;1 million cars in 2021. Instead, Tesla would produce (and presumably sell) a little more than 700,000 cars in 2021 at the pace shown in Q1. If we assume that further ramping of production in China will add some additional capacity, then 800,000 cars for 2021 seem like a realistic and achievable estimate. Tesla would have to produce more than 270,000 cars during each of the next three quarters to hit a production target of 1 million cars this year -- compared to the 180,000 cars produced in Q1, that seems like a stretch, at least to me.</p>\n<p><b>2. Sales moved to lower-priced vehicles</b></p>\n<p>This wasn't a large surprise, due to the model refreshes for the S and the X. But still, most analysts had estimated that Tesla would deliver about 5,000 of the two higher-priced models, combined, whereas deliveries totaled just 2,000 for those models in Q1. This naturally means that average sales prices will be lower than what the analyst community had modeled and that gross margins will likely also not be great in the first quarter.</p>\n<p><b>3. How meaningful is Tesla's Q1 growth in deliveries?</b></p>\n<p>Tesla is a key player in the global EV market, and that market is experiencing a lot of growth, due to a range of factors, including government incentives. It thus has to be expected that Tesla grows its sales meaningfully on a year-over-year basis, this alone is not great news. To gauge how well Tesla is doing, we can look at market share trends, i.e. the answer to the question<i>Is Tesla growing faster than its peers?</i></p>\n<p>Total global EV sales for Q1 are not published yet, so there is no way to find a definitive answer to that question. We can, however, look at how the market performed in January and February, as we have global EV sales data for these two months.</p>\n<p>InsideEVs reports that total global EV sales in January totaled more than&nbsp;320,000, and that total global EV sales in February totaled&nbsp;270,000. These numbers were up by 112% and 136% year over year, respectively. We can thus deduct that the global EV market grew by around 120% during January and February. It seems, to me, reasonable to assume that growth in March was likely at a similar level, although we don't know official numbers yet. If that is the case, then Tesla's sales, which were up 110% in Q1,<i>grew slower than the market</i>. In other words, if the very strong EV sales trends in January and February held on through March, then Tesla has actually lost market share in Q1, despite delivering a sizeable year-over-year increase in deliveries.</p>\n<p><b>Other EV Companies Are Outpacing Tesla's Growth</b></p>\n<p>This aligns with the fact that several major EV players have delivered stronger sales growth than Tesla in Q1. Let's look at a couple of those:</p>\n<p>Nio (NIO) has delivered 20,000 vehicles in Q1, which was up by a massive423%year over year. Sure, this growth was based on a rather low basis in Q1 2020, but still, it is obvious that NIO, one of the highest-valued pure-play EV companies, has gained massive market share in Q1 -- unlike Tesla. The company was not alone, though, as other Chinese EV players delivered very strong sales gains as well. XPeng (XPEV), for example, saw its EV sales rise by487%year over year during Q1 and is now at a run rate of well ahead of 50,000 vehicles a year. XPeng is growing from a lower base compared to Tesla, just like NIO, but it is still a mathematical fact that both of these companies have experienced significant market share gains, while Tesla hasn't. Li Auto (LI), another Chinese EV player, also saw its deliveries rise more than 300% year over year.</p>\n<p>Tesla's market share is not only under attack from these Chinese players, however, as legacy auto companies are also gaining traction. Stellantis (STLA), which includes Chrysler, Fiat, and Citroen, is seeking to sell 400,000 EVs this year, about three times as much compared to 2020. It is not guaranteed that the company will hit that goal, but when we assume that the actual result will be more or less in the forecasted range, then Stellantis should be able to deliver a far superior growth rate compared to Tesla. A 200% increase in EV sales for Tesla during 2021 is basically impossible, as this would require EV sales of about 1.5 million in 2021, which is far ahead of even quite bullish estimates.</p>\n<p>Volkswagen (OTCPK:VWAGY) is another legacy auto player that seeks to grow faster than Tesla this year. The company already managed to do that last year, delivering EV sales growth of 200%, but Bloombergreportsthat the company plans to double its EV sales again this year -- something Tesla will likely not achieve, as 60%-70% growth versus 2020 seems more likely for the current king of EVs.</p>\n<p><b>What Does It Mean For Tesla?</b></p>\n<p>The fact that Tesla was able to perform somewhat better than most had estimated in Q1 is a positive, but in the grand scheme of things, it won't matter much. Selling a couple of thousand cars more than expected is nothing that should result in any large moves in the underlying value of a company that is valued at close to $700 billion. Since Tesla is priced for the sale of millions of cars a year, 10,000 in either direction shouldn't be a large factor for its valuation, I believe.</p>\n<p>Considering the fact that Tesla has most likely lost market share in Q1, as the EV market in total has grown more than Tesla's deliveries, and that legacy auto companies and new EV startups are on track to outpace Tesla's growth in 2021, Tesla looks quite overvalued:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/924bf511703de1645bf04a5b7f308d85\" tg-width=\"635\" tg-height=\"436\"><span>Data by YCharts</span></p>\n<p>Tesla trades at a premium compared to NIO and Li, which both are growing at a much faster pace than Tesla. I personally think that even those are likely overvalued, but no matter how you stand on that, Tesla is clearly more expensive despite delivering lower growth.</p>\n<p>Comparing Tesla to Stellantis or Volkswagen isn't easy, as the latter two sell a large amount of non-EV cars. But if Volkswagen, for example, would be valued at the valuation Tesla is valued at for its EV business, even with the legacy business (which does $10+ billion a year in profits) given for free, Volkswagen's shares would have to rise by hundreds of percent. Most will agree that this valuation would be way too high for Volkswagen's shares, so it seems reasonable to state that Tesla doesn't deserve a valuation this high, either.</p>\n<p><b>Takeaway</b></p>\n<p>Am I bearish on Tesla's operations? No, I think the company will continue to grow, which can be expected from most players in a growth market. But Tesla won't have the EV market alone, as more and more startups and legacy players are pushing new EV models into the market, at different price points, attacking Tesla from both the top end (LUCIDM) (CCIV) and the bottom end (Stellantis, VW, etc.).</p>\n<p>Tesla is not the highest-growth player in its industry by far, has been losing market share in recent years, and yet, it is trading at an ultra-expensive valuation -- even higher than that of NIO, Li, etc. which are growing much faster.</p>\n<p>Obvious growth tailwinds for an industry do not necessarily translate to future gains for equity investors in said industry, and I think that will be the case with Tesla. The company will continue to grow, although market share battles will prevent it from becoming gigantic in a short period of time. The current valuation is pricing in too much growth, though, and I don't see shares as an attractive investment right here. This may change if Tesla comes up with something immensely profitable that improves its market position by a lot, and I don't at all advise anyone to short the stock. But right here, from what I see, shares are just too expensive relative to what Tesla is delivering right now.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla: Why Its Deliveries Beat Means Nothing</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla: Why Its Deliveries Beat Means Nothing\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 23:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4418153-tesla-why-its-deliveries-beat-means-nothing><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nTesla beat sales estimates during Q1, which was a surprise to most.\nBut in the grand scheme of things, this doesn't really change anything. At around $700 billion, Tesla is too expensive.\n...</p>\n\n<a href=\"https://seekingalpha.com/article/4418153-tesla-why-its-deliveries-beat-means-nothing\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4418153-tesla-why-its-deliveries-beat-means-nothing","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1101689800","content_text":"Summary\n\nTesla beat sales estimates during Q1, which was a surprise to most.\nBut in the grand scheme of things, this doesn't really change anything. At around $700 billion, Tesla is too expensive.\nLooking closer, Tesla may actually have lost more market share in Q1, despite growing sales meaningfully year over year. Many peers grew their deliveries much more than Tesla.\n\nPhoto by Dean Mouhtaropoulos/Getty Images News via Getty Images\nArticle Thesis\nTesla (TSLA) beat delivery estimates for the first quarter, showing strong growth year over year. A closer look, however, shows that this may not be too significant, as Tesla possibly even lost market share despite the solid year-over-year performance. Overall, beating sales estimates by a couple of thousand cars doesn't change the fact that shares are looking very expensive and are, I believe, quite overvalued.\nTesla's Q1 Deliveries Beat\nFirst things first, Tesla should be applauded for delivering not only new record vehicle sales for a fiscal Q1 but also a small sequential increase in deliveries, which is not typical for the Q4-Q1 comparison. Tesla also managed to easily beat delivery estimates, which was, again, a strong showing from the company on an operational basis. I mention these positives because my rather bearish position regarding the company's stock is not based on a belief that the company is weak operationally, or that it will go bankrupt, or anything like that. Instead, I think that Tesla is a leading player in the growing EV market, but that its stock is just way too expensive. In general, solid to strong operational results have to be expected from Tesla, as well as from most other EV players, but that doesn't necessarily change the thesis -- Tesla can still be way overvalued, even if it churns out compelling results operationally.\nNevertheless, it makes sense to take a deeper dive into the delivery numbers and what they mean for Tesla. Despite the fact that Tesla was able to grow deliveries by a highly compelling 110%, not everything is perfect when it comes to deliveries. Three key points come to mind:\n1. Deliveries outpaced production\nThis is a positive when it comes to cash flow generation, as Tesla liquidated some of its assets (finished products) and turned them into cash. However, production standing at 180,000 for the quarter also means that Tesla is, from what we see right now, not on track for the production of 1 million cars in 2021. Instead, Tesla would produce (and presumably sell) a little more than 700,000 cars in 2021 at the pace shown in Q1. If we assume that further ramping of production in China will add some additional capacity, then 800,000 cars for 2021 seem like a realistic and achievable estimate. Tesla would have to produce more than 270,000 cars during each of the next three quarters to hit a production target of 1 million cars this year -- compared to the 180,000 cars produced in Q1, that seems like a stretch, at least to me.\n2. Sales moved to lower-priced vehicles\nThis wasn't a large surprise, due to the model refreshes for the S and the X. But still, most analysts had estimated that Tesla would deliver about 5,000 of the two higher-priced models, combined, whereas deliveries totaled just 2,000 for those models in Q1. This naturally means that average sales prices will be lower than what the analyst community had modeled and that gross margins will likely also not be great in the first quarter.\n3. How meaningful is Tesla's Q1 growth in deliveries?\nTesla is a key player in the global EV market, and that market is experiencing a lot of growth, due to a range of factors, including government incentives. It thus has to be expected that Tesla grows its sales meaningfully on a year-over-year basis, this alone is not great news. To gauge how well Tesla is doing, we can look at market share trends, i.e. the answer to the questionIs Tesla growing faster than its peers?\nTotal global EV sales for Q1 are not published yet, so there is no way to find a definitive answer to that question. We can, however, look at how the market performed in January and February, as we have global EV sales data for these two months.\nInsideEVs reports that total global EV sales in January totaled more than 320,000, and that total global EV sales in February totaled 270,000. These numbers were up by 112% and 136% year over year, respectively. We can thus deduct that the global EV market grew by around 120% during January and February. It seems, to me, reasonable to assume that growth in March was likely at a similar level, although we don't know official numbers yet. If that is the case, then Tesla's sales, which were up 110% in Q1,grew slower than the market. In other words, if the very strong EV sales trends in January and February held on through March, then Tesla has actually lost market share in Q1, despite delivering a sizeable year-over-year increase in deliveries.\nOther EV Companies Are Outpacing Tesla's Growth\nThis aligns with the fact that several major EV players have delivered stronger sales growth than Tesla in Q1. Let's look at a couple of those:\nNio (NIO) has delivered 20,000 vehicles in Q1, which was up by a massive423%year over year. Sure, this growth was based on a rather low basis in Q1 2020, but still, it is obvious that NIO, one of the highest-valued pure-play EV companies, has gained massive market share in Q1 -- unlike Tesla. The company was not alone, though, as other Chinese EV players delivered very strong sales gains as well. XPeng (XPEV), for example, saw its EV sales rise by487%year over year during Q1 and is now at a run rate of well ahead of 50,000 vehicles a year. XPeng is growing from a lower base compared to Tesla, just like NIO, but it is still a mathematical fact that both of these companies have experienced significant market share gains, while Tesla hasn't. Li Auto (LI), another Chinese EV player, also saw its deliveries rise more than 300% year over year.\nTesla's market share is not only under attack from these Chinese players, however, as legacy auto companies are also gaining traction. Stellantis (STLA), which includes Chrysler, Fiat, and Citroen, is seeking to sell 400,000 EVs this year, about three times as much compared to 2020. It is not guaranteed that the company will hit that goal, but when we assume that the actual result will be more or less in the forecasted range, then Stellantis should be able to deliver a far superior growth rate compared to Tesla. A 200% increase in EV sales for Tesla during 2021 is basically impossible, as this would require EV sales of about 1.5 million in 2021, which is far ahead of even quite bullish estimates.\nVolkswagen (OTCPK:VWAGY) is another legacy auto player that seeks to grow faster than Tesla this year. The company already managed to do that last year, delivering EV sales growth of 200%, but Bloombergreportsthat the company plans to double its EV sales again this year -- something Tesla will likely not achieve, as 60%-70% growth versus 2020 seems more likely for the current king of EVs.\nWhat Does It Mean For Tesla?\nThe fact that Tesla was able to perform somewhat better than most had estimated in Q1 is a positive, but in the grand scheme of things, it won't matter much. Selling a couple of thousand cars more than expected is nothing that should result in any large moves in the underlying value of a company that is valued at close to $700 billion. Since Tesla is priced for the sale of millions of cars a year, 10,000 in either direction shouldn't be a large factor for its valuation, I believe.\nConsidering the fact that Tesla has most likely lost market share in Q1, as the EV market in total has grown more than Tesla's deliveries, and that legacy auto companies and new EV startups are on track to outpace Tesla's growth in 2021, Tesla looks quite overvalued:\nData by YCharts\nTesla trades at a premium compared to NIO and Li, which both are growing at a much faster pace than Tesla. I personally think that even those are likely overvalued, but no matter how you stand on that, Tesla is clearly more expensive despite delivering lower growth.\nComparing Tesla to Stellantis or Volkswagen isn't easy, as the latter two sell a large amount of non-EV cars. But if Volkswagen, for example, would be valued at the valuation Tesla is valued at for its EV business, even with the legacy business (which does $10+ billion a year in profits) given for free, Volkswagen's shares would have to rise by hundreds of percent. Most will agree that this valuation would be way too high for Volkswagen's shares, so it seems reasonable to state that Tesla doesn't deserve a valuation this high, either.\nTakeaway\nAm I bearish on Tesla's operations? No, I think the company will continue to grow, which can be expected from most players in a growth market. But Tesla won't have the EV market alone, as more and more startups and legacy players are pushing new EV models into the market, at different price points, attacking Tesla from both the top end (LUCIDM) (CCIV) and the bottom end (Stellantis, VW, etc.).\nTesla is not the highest-growth player in its industry by far, has been losing market share in recent years, and yet, it is trading at an ultra-expensive valuation -- even higher than that of NIO, Li, etc. which are growing much faster.\nObvious growth tailwinds for an industry do not necessarily translate to future gains for equity investors in said industry, and I think that will be the case with Tesla. The company will continue to grow, although market share battles will prevent it from becoming gigantic in a short period of time. The current valuation is pricing in too much growth, though, and I don't see shares as an attractive investment right here. This may change if Tesla comes up with something immensely profitable that improves its market position by a lot, and I don't at all advise anyone to short the stock. But right here, from what I see, shares are just too expensive relative to what Tesla is delivering right now.","news_type":1},"isVote":1,"tweetType":1,"viewCount":169,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3558675649925642","authorId":"3558675649925642","name":"poobear","avatar":"https://static.tigerbbs.com/24ce5566455649c3de6f2993f0c29e29","crmLevel":2,"crmLevelSwitch":0,"idStr":"3558675649925642","authorIdStr":"3558675649925642"},"content":"for better or worse?","text":"for better or worse?","html":"for better or worse?"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359746944,"gmtCreate":1616426206788,"gmtModify":1704794023521,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Soon it may come out with “ Personal Electric Flying vehicle “.","listText":"Soon it may come out with “ Personal Electric Flying vehicle “.","text":"Soon it may come out with “ Personal Electric Flying vehicle “.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/359746944","repostId":"1196402560","repostType":4,"repost":{"id":"1196402560","pubTimestamp":1616134696,"share":"https://ttm.financial/m/news/1196402560?lang=&edition=fundamental","pubTime":"2021-03-19 14:18","market":"us","language":"en","title":"New Electric Vehicle Investment Roadmap","url":"https://stock-news.laohu8.com/highlight/detail?id=1196402560","media":"seekingalpha","summary":"Summary\n\nIt's almost a foregone conclusion that EVs will replace ICE vehicles in the next decade, an","content":"<p><b>Summary</b></p>\n<ul>\n <li>It's almost a foregone conclusion that EVs will replace ICE vehicles in the next decade, and this provides exciting investment opportunities.</li>\n <li>Last October, I wrote a popular article providing a roadmap for investing in electric vehicles, but since then, so much has changed: new entrants, new strategies, fluctuating valuations, etc.</li>\n <li>So, I updated and greatly expanded the previous EV investment roadmap.</li>\n <li>This update includes a deeper look at valuations for 23 EV companies with revenue projections, when available.</li>\n <li>It also classifies these EV companies into their primary market categories and summarizes their different strategies.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bb96acc615cba9c7842860658c019ab1\" tg-width=\"768\" tg-height=\"432\"><span>Photo by Sven Loeffler/iStock via Getty Images</span></p>\n<p>My article&nbsp;Electric Vehicle Investment Roadmap&nbsp;published five months ago, was popular, and some followers have requested an update. Many new EV companies entered the market, most of them through SPACs. Valuations fluctuated wildly, and there has been a great deal of publicity around these companies.</p>\n<p>This new updated EV investment roadmap is greatly expanded. In addition to updating the strategies and progress of companies previously discussed, I expanded the number of companies covered. This article also groups EV companies into their primary markets, enabling better comparisons and evaluation of market opportunities. In addition, it includes a comparative valuation chart showing every company's market cap with a comparison to projected revenue, where possible. This takes advantage (good or bad) of looking at the long-term revenue forecasts provided in SPAC mergers that public companies can't make.</p>\n<p>In addition to the EV manufacturers discussed here, there are also EV investment opportunities in charging station companies, battery manufacturers, and battery materials companies. These were covered in the original roadmap and may also be updated in a later article.</p>\n<p>Approximately 2 million EVs were sold in 2019, and although the number declined along with all auto sales in 2020, it is forecasted to increase in 2021 and reach 8-10 million by 2025. Some forecast that EV sales will be greater than internal combustion engine (ICE) vehicles by 2030, or even earlier. The automobile market appears to be moving toward a historical transformation, and exceptional investment gains can be made by anticipating new emerging industries and investing in the eventual winners of those new industries. Amazon(NASDAQ:AMZN), Google(NASDAQ:GOOG)(NASDAQ:GOOGL), and Facebook(NASDAQ:FB)are obvious examples. Electric vehicles (EVs) have the potential to create a new emerging industry.</p>\n<p>There are also significant risks. Hundreds of new EV models are expected to be released in the next three years, which will drive rapid growth in EV sales. However, the expected sales from these new models, as well as the increasing expectations from Tesla, most likely exceed the total projected market. I wouldn't be surprised if many of the companies covered here won't exist five years from now. It reminds me of the internet bubble of the late 1990s when scores of internet-based companies went public with little or no revenue. Almost all of these failed within three years -- however, a couple, including Amazon, went on to enormous success.</p>\n<p>EVs provide a major new investment opportunity with high risks. To succeed, you need to have a clear EV investment roadmap.</p>\n<p>So, how can you invest in this new emerging market? The EV landscape is complex and investment opportunities are varied. While Tesla is the unquestioned leader in EVs, some consider it overvalued and unlikely to show exceptional returns to new investors. The current U.S. legacy automakers are committed to introducing many new EVs in the next few years, and they have some entrenched advantages with volume manufacturing capabilities, a dealer infrastructure, and loyal customers. There are exciting new EV start-ups in the U.S. that have come public this year, mostly through Special Purpose Acquisition Companies (SPACs), and there are several interesting publicly traded Chinese EV manufacturers.</p>\n<p>This new roadmap for EV investment classifies companies into three primary markets segments:</p>\n<ul>\n <li>The<b><i>Consumer Retail</i></b>segment includes EVs sold to consumers individually, such as SUVs, pickup trucks, sedans, etc.</li>\n <li>The<b><i>Commercial Delivery</i></b>segment includes local delivery EV vans and trucks sold to fleets.</li>\n <li>The<b><i>Medium- and Long-Haul Trucking</i></b>segment includes heavier Class 4 - Class 8 trucks, as well as special industrial vehicles.</li>\n</ul>\n<p>In addition, it categorizes<b>Legacy Manufacturers</b>and<b>Chinese EV Companies</b>. This enables investors to evaluate investment opportunities by considering unique opportunities within each market segment.</p>\n<p>There is an enormous amount of investment optimism for EVs, and retail investors have been aggressively buying into EV stocks with seemingly no regard for valuation. Then there is the additional challenge of valuing companies with no revenue, especially those coming public through SPACs. So, valuation is an important investment consideration.</p>\n<p>So let's start by looking at an overview of comparative EV valuations.</p>\n<p><b>EV Investment Valuation Overview</b></p>\n<p>The following chart summarizes valuations for 23 EV companies, including several legacy companies. For SPACs, market cap estimates are computed using the pro forma number of shares at closing, otherwise using the valuation of the SPAC prior to closing drastically underestimates the valuation, which may be misleading to novice investors. Price/Sales ratios (market cap divided by revenue) are used to compare valuations. As a benchmark, current P/S ratios vary. For example, auto and truck companies have a ratio of 2.7X. Software companies have the highest ratios of over 10X.</p>\n<p>In the chart, companies that currently have revenue show current P/S ratios. Where projections are available, projected P/S ratios are computed. A note of caution, however. Many of the EV companies came public through SPACs and published their projections (which public companies cannot do), and many of these are likely to prove unrealistic.</p>\n<p>All of the longer-term revenue projections come from the company (C) forecasts with a SPAC. Some of these may turn out to be accurate, not many are most likely unrealistic. Some, like Lucid, Faraday, and Arrival forecast hitting more than $10 billion in revenue in a few years, when it took Tesla more than 10. Things are different now and they might achieve these, but they could also find that it will take longer to complete development, ramp up production, and create enough customer demand. Many companies may also find that there will be significant capital requirements to achieve this type of growth, and shareholders will be diluted.</p>\n<p><img src=\"https://static.tigerbbs.com/bc360dfa7de01516b7f68d5962cf3017\" tg-width=\"640\" tg-height=\"883\"></p>\n<p>Tesla, the \"gold standard\" in EVs, has a market cap of approximately $650 billion, which many people believe is overvalued. Its market cap is approximately 20X 2020 revenue and 10X estimated 2022 revenue.</p>\n<p><b>Tesla (TSLA)</b></p>\n<p>In the U.S., and to a lesser extent in China, Tesla is the dominant EV provider. It has approximately 60% of the U.S. EV market and about 20% of the market in China. I own a Tesla and love it, but an investment in Tesla stock requires getting comfortable with its valuation. Tesla has a market cap of approximately $650 billion, although declining lately, which some consider still overvalued while others see upside potential.</p>\n<p>The investment opportunity with Tesla is based on the expectation that it will continue to dominate the EV market, or at least maintain significant market share, despite much greater competition from the expected introduction of hundreds of new EV models in the next few years.</p>\n<p>There is a great deal already published about Tesla, so I'll move on.</p>\n<p><b>Legacy Automakers</b></p>\n<p>Some people think that the legacy automakers will simply fade away. Historically, that was the case in some other industries, but it is not going to happen to most automakers. They are not standing still waiting to become obsolete. Most have aggressive strategies to replace ICE vehicles with EVs. GM plans to invest $27 billion and build and launch as many as 30 new EV models by 2025. Ford plans to invest $29 billion in EVs by 2025 and launch as many as 16 EVs in the next two years. Volkswagen(OTCPK:VWAGY)has also committed billions to develop new EVs.</p>\n<p>The competitive advantage that legacy automakers have in selling their new EVs is their dealer network. Will new EV customers prefer to continue going to their regular auto dealer to buy their new EV?</p>\n<p>Almost all legacy automakers worldwide are developing and launching EVs including Volkswagen, Peugeot, Renault/Nissan/Mitsubishi, Hyundai/Kia. Let's look a little more closely at GM and Ford as the leaders in the U.S.</p>\n<p><b>General Motors (GM)</b></p>\n<p>GM has committed to introducing 20 new electric vehicles by 2023, including EVs across Chevrolet, Cadillac, GMC, and Buick. It recently announced that it has already sold out the first-year production of its Hummer electric pickup. By mid-decade, it expects to sell a million EVs per year in its two largest markets: North America and China. As a reference point, Tesla reported deliveries of 367,500 vehicles globally in 2019.</p>\n<p>GM has a solid platform strategy for its EVs. It plans on building its EVs using five interchangeable drive units and three different motors from its Ultium Drive System platform. Ultium energy options range from 50 to 200 kWh, which could enable an estimated range of up to 400 miles. Most of its EVs will have 400-volt battery packs and up to 200 kW fast-charging capability while the truck platform will have 800-volt battery packs and 350 kW fast-charging capabilities.</p>\n<p>The key building blocks of the Ultium battery system are large-scale, high-energy cells. Engineered in partnership with LG Energy Solutions, they use both advanced chemistry and a smart cell design that's optimized for a broad portfolio of EVs. GM engineers and scientists are actively researching and testing new elements in battery chemistry to lower costs and improve charge times. Ultium can contain either vertically- or horizontally-stacked cells to integrate into vehicle design: vertically for trucks, SUVs, and crossovers, or horizontally for cars and performance vehicles. As new chemistry is developed and becomes available, the battery management system could digitally update the modules.</p>\n<p>GM also has other EV opportunities with its BrightDrop commercial EV service and its Cruise subsidiary. BrightDrop will not just sell delivery EVs, it will provide an entire service platform for commercial delivery customers. Its set of electric delivery vehicles starts with the EV600 and includes the BrightDrop EP1, a pod-like electric pallet. SeeGeneral Motors' Aggressive EV/AV Strategies May Payoff Big.</p>\n<p>With its highest stock price of $61.65, GM's current market cap is approximately $89 billion, increasing primarily because of its progress with EVs. This approximately 3X valuation in 2018, but still only 13% of Tesla.</p>\n<p><b>Ford (F)</b></p>\n<p>Ford is also investing heavily in EVs. It just introduced the Mustang Mach-E, a battery-powered crossover with sports car styling, and plans to introduce an all-electric version of its best-selling F-150 pickup later this year. Also, planned is an electric edition of the full-size Transit van, which has been popular in the commercial delivery market. Ford has confirmed plans to build a luxury Lincoln crossover on a battery-powered platform provided by Rivian. The automaker also plans to introduce two new midsize electric crossovers, one each for the Ford and Lincoln brands by 2023.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/bd8523e15bccc57790940d4218f7b94e\" tg-width=\"1920\" tg-height=\"1080\"><span>Mustang Mach-E. Source: Ford</span></p>\n<p>Ford's market cap is approximately $51 billion, twice its previous market cap, and also increasing.</p>\n<p><b>Consumer Retail EV Companies</b></p>\n<p>The consumer retail market has some unique characteristics for new EV companies. Sales are made individually, not in fleets. This diversifies the risk upon launch because only a sufficient number of customers need to be attracted to the new EV. A wave of popularity can provide terrific momentum.</p>\n<p>However, the lack of a dealer network can be an impediment. Selling EVs directly to consumers instead of through dealers is prohibited in most states. By law, auto manufacturers can't compete with franchised dealers. These are laws that go back many decades to protect dealers. This can be a major impediment for new companies without established independent dealer franchises. So, new AV companies. like Tesla, need to sell their vehicles online. Tesla has successfully done this, but it took a lot of work and time. Lack of a dealer network also creates impediments in service.</p>\n<p>In addition, over the next 4-5 years, autonomous capabilities will be increasingly important to luxury vehicles. This may prove to be a challenge to start-up EV companies because they can't afford to develop this technology.</p>\n<p>Let's look closer at the alternative consumer retail EV investments.</p>\n<p><b>Lucid Motors (CCIV)</b></p>\n<p>Lucid was founded in 2007 under the name Atieva and originally focused on building electric vehicle batteries and powertrains for other vehicle manufacturers. The company rebranded itself as Lucid Motors in October 2016 and shifted its strategy to develop an all-electric, high-performance, luxury vehicle. Shortly after that, it encountered financial difficulties and struggled to get short-term funding. In 2018 it raised more than $1 billion in investment, primarily from Saudi Arabia's Sovereign Fund, and gave up a majority of the company.</p>\n<p>Lucid Motors reached an agreement to become a publicly-traded company through a merger with the SPAC Churchill Capital IV Corp., in one of the largest deals SPAC EV deals. The combined company, in which Saudi Arabia's Sovereign Fund will continue to be the largest shareholder, had a transaction equity value of $11.75 billion (for $10/share). At the same time, it closed a PIPE investment priced at $15 a share, giving it an implied pro forma equity value of $24 billion. Rumors about this deal circulated before the transaction was formally announced, making it one of the most anticipated SPAC deals. The hype and speculation drove up the stock price of Churchill Capital IV Corp. from its opening price of $10 a share to almost $60. I believe that some of this may have been driven by novice SPAC investors who didn't realize that the valuation of CCIV didn't include the eventual valuation of Lucid. The share price dropped more than 30% after the details of the deal were announced. It's also likely that Lucid renegotiated the terms of the merger based on the price jump.</p>\n<p>The company's first product is the Lucid Air, a well-equipped luxury electric vehicle that features 406 miles of projected range and 480 horsepower with a starting price of $77,400, or $69,900 after the U.S. Federal Tax Credit of $7,500. This new Lucid Air model is positioned as a high-performance, ultra-efficient luxury EV sedan in a line of future vehicles that are expected to include Lucid Air Touring, Grand Touring, and Dream Edition versions.</p>\n<p>The company plans to begin production and deliveries of the Lucid Air in North America in the second half of 2021. Previously the company aimed to begin deliveries earlier in 2021. It intends to sell the car in Europe in 2022, followed by China in 2023. Lucid vehicles will be produced at its new factory in Casa Grande, Arizona. The company plans to expand the factory in phases in the coming years to have the capacity to produce 365,000 units per year at scale. The initial phase of the $700 million factory construction was completed late last year and will have the capacity to produce 30,000 vehicles a year.</p>\n<p>Lucid also apparently has a commitment to build an assembly plant in Saudi Arabia, which was rumored to be a condition of the $1 billion investment from the Saudi public fund. The Saudi Sovereign Wealth Fund also provided $600 million in bridge financing and invested in the SPAC deal as well. So, while this assembly plant may be expensive and may not be critical, it will most likely need to happen.</p>\n<p>Lucid has ambitious plans to achieve $14 billion in revenue in 2025, and its current stock price at $29.17, which gives it a market cap of more than $46 billion, may already reflect those ambitions. Its market cap is roughly the same as Ford.</p>\n<p><b>Fisker (FSR)</b></p>\n<p>Fisker, which had its origins with Fisker Automotive, is an interesting story that ended in bankruptcy. Henrik Fisker originally co-founded Fisker Automotive in 2007. He was responsible for designing many premium cars such as the Aston Martin. Subsequently, Fisker Automotive had to deal with a Tesla lawsuit against Fisker Automotive alleging it stole Tesla's technology, a controversial $528.7 million conditional loan from the Department of Energy, a recall of its battery produced by A123, and the loss of several hundred vehicles in hurricane Sandy. Henrik Fisker resigned in March 2013 because of disagreements over business strategy and in November 2013, Fisker filed its Chapter 11 bankruptcy case.</p>\n<p>However, Henrik Fisker retained the Fisker brand and trademarks, and in 2016 he started another electric vehicle company named Fisker Inc. with the Fisker brand and trademarks. In 2019, Fisker shifted from developing a sports car with a solid-state battery to the Ocean SUV featuring a lithium-ion battery, which it later abandoned for a solid-state battery.</p>\n<p>Fisker is positioning itself in a unique segment for those who want the most environmentally friendly EV. While this may be an early growth segment for EVs, it's difficult to estimate its eventual competitive advantage and the size of this environmentally-friendly market segment.</p>\n<p>The Ocean is a crossover made of recycled metal and plastic with an expected base price of $37,499, and an expected lease of less than $400 a month. Fisker's plan is essentially a lease-only business model that lets customers keep a vehicle for years or return it at any time. It aims to source motors, batteries, and other components from technical partnerships with automakers and will outsource production from existing auto plants. Fisker is currently taking reservations at $250 for the Ocean. It also announced an agreement with Foxconn to jointly develop a vehicle pioneering a new market segment to be sold globally under the Fisker brand commencing in Q4 2023. at the end of 2022. Production will start at Magna Steyr's manufacturing facilities in Europe. At the end of February 2021, it had 12,467 cancellable reservations.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/924a617c90fc3276d7bdab8c64ebfdcf\" tg-width=\"744\" tg-height=\"389\"><span>Fisker Ocean. Source: Fisker</span></p>\n<p>Fisker went public using a SPAC (Spartan Energy). The original combination with SPAQ in October 2020 was valued at $2.9 billion with a cash investment of approximately $1 billion. The stock currently trades at approximately $21 per share, after reaching a high of $28.50, from the original price of $10, which is a market cap of $4.6 billion. Fisker projects $3.3 billion in revenue in 2023. It had almost $1 billion in cash at the end of 2020 and expected to use almost half of this in 2021: $250 million on operating expenses and $250 million in capital investments. If the Ocean is delayed into 2023, Fisker risks missing its revenue objective and will potentially need additional cash to complete development and launch.</p>\n<p><b>Faraday Future (PSAC)</b></p>\n<p>Faraday Future was originally established in May 2014 by Chinese businessman Jia Yueting. It is headquartered in Los Angeles and has offices in Silicon Valley, Beijing, Shanghai, and Chengdu. Faraday Future also had a turbulent history. In 2016, it struggled financially, and in 2017 some key executives departed over a dispute about financial issues. They later founded Canoo.</p>\n<p>In December 2018 the company announced layoffs due to a cash crunch and financial troubles. The company's founder Jia Yueting filed for personal bankruptcy in the United States' federal court in Delaware on October 14, 2019. Following Jia's personal bankruptcy, he decided to step down from his role as CEO of Faraday Future in order to assume a new position as the Chief Product and User Officer. He was replaced as CEO by Carsten Breitfeld, the former CEO at rival electric vehicle startup Byton.</p>\n<p>Somehow, Faraday was able to raise $2.3 billion in private funding over 5 rounds from a variety of investors. In early 2018, it received $1.5 billion in funding from an undisclosed investor from Hong Kong.</p>\n<p>Faraday's flagship product offering will be the FF 91, featuring 1,050 HP, 0-60 mph in less than 2.4 seconds, zero gravity seats with the largest 60-degree reclining angles, and a user experience designed to create a mobile, connected, and luxurious living space. The FF 91 is targeted to launch in 2022.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/7e38bfb3211c72bb73bc26f2ebe296fe\" tg-width=\"1280\" tg-height=\"854\"><span>FF 91. Source: Faraday Future</span></p>\n<p>Its strategic partners include one of China's top three OEMs and a critical Chinese city, which the company believes will help establish its presence in the Chinese vehicle market.</p>\n<p>Faraday Future plans several cars based on its Variable Platform Architecture. FF 91 is the first production vehicle and flagship model. Pricing will range between $120,000 and upwards of $200,000, which places it against formidable opponents. Faraday Future is already looking forward to expanding its range with a pair of smaller models named FF 81 and FF 71. The FF 81 is planned to be priced at $75,000 to 95,000 with a 2023 release. The FF 71 is planned to be priced at $45,000 to $65,000 with a planned release of 2024.</p>\n<p>The Primary Manufacturing Facility for FF 91 is in Hanford, CA with contract manufacturing for future models in Gunsan, South Korea.</p>\n<p>Faraday Future is planning high-Level automation with a Level-3 capable system using a redundant safety architecture based on NVIDIA Xavier System-on-a-chip. It will be capable of highway auto-drive and hardware ready for advanced auto-drive. It is targeting full autonomous valet parking &amp; summon in any parking lot or structure. Eventually, it expects full auto-drive, including full 360˚ sensor coverage for advanced auto-drive &amp; auto-park features.</p>\n<p>In January 2021, Faraday Future announced that the company would go public through a reverse merger with the special purpose acquisition company Property Solutions Acquisition Corp. (PSAC). The combined company will be valued at $3.4 billion. Faraday Future is expected to set up contract manufacturing operations in China through their partnership with Geely. Taiwanese manufacturer Foxconn is also expected to serve as an additional strategic partner.</p>\n<p>Faraday Future projects $10.5 billion in revenue in 2024 and $21.5 billion in 2025. Revenue is expected to start in 2022 with the delivery of 2,400 vehicles for $504 million. Most likely these projections could prove to be optimistic. At a current stock price of approximately $12.80, it has a market cap of about $4.3 billion.</p>\n<p><b>Lordstown Motors (RIDE)</b></p>\n<p>Lordstown Motors based in Lordstown, Ohio, was originally founded in 2018 by Steve Burns, the former CEO of Workhorse Group. The company licensed technology from Workhorse in return for royalties and a 10% ownership. Lordstown is named after the famous GM Lordstown manufacturing plant, which it acquired in November 2019 in an unusual transaction. GM announced that it was closing the plant and was under a great deal of pressure for that decision. So, GM \"sold\" the plant to a company that was renamed Lordstown for an estimated $20 million that it loaned to the acquiring company. Subsequently, the sale was redefined to be part of a $75 million investment by GM, of which $50 million was an in-kind exchange for the plant.</p>\n<p>Lordstown went public through the SPAC DiamondPeak Holdings Corp. in 2020. It currently has more than 400 employees.</p>\n<p>Its first product is the Lordstown Endurance, a full-sized EV pickup truck. Lordstown is positioning Endurance for the pickup fleet market segment. The expected price is $52,000+, and it claimed to have more than 100,000 pre-orders by January 2021. However, a recent research article published by a short seller claimed \"Our research has revealed that Lordstown's order book consists of fake or entirely non-binding orders, from customers that generally do not even have fleets of vehicles.\" Lordstown is disputing that article.</p>\n<p>It believes the fleet pickup market segment is underserved with no current EV-focused competition. It estimates that the full-sized pick-up truck fleet market is 1.2 million vehicles per year in the U.S., but it's more fragmented than other truck fleets. Pickup \"fleets\" tend to be much smaller and local, so there may not be much of a market distinction for a small company buying several EV pickups from a traditional auto dealer. About half of the total U.S. pickup market is classified as fleet sales, meaning more than one.</p>\n<p>Even though Lordstown is targeting the commercial fleet market, it is a similar product to the Ford EV F-150. So I classify it in the consumer EV category. It is a class 2 vehicle. Lordstown also may enter the SUV market in the longer-term.</p>\n<p>The Endurance will compete against future models from Rivian and Tesla, as well as Ford and GM in ICE pick-ups and their upcoming EV pick-ups. Ford plans on selling its EV F-150 in mid-2022. Initial production of the Endurance is expected in the second half of 2021, so it may have a short market advantage. Nevertheless, it forecasts selling 65,000 vehicles in 2023 and 107,000 in 2024. These estimates could be a large percentage of the EV pick-up market in those years.</p>\n<p>At the SPAC merger, the implied valuation for Lordstown was $1.6 billion, including a $500 million PIPE and the $75 million by GM. Lordstown's financial projections appear to be aggressive. It projects to start shipping the Endurance in late 2021 with projected revenue in 2022 of $1.7 billion, increasing to $5.8 billion in 2024. Its stock price at approximately $13.60 values the company at a market cap of approximately $2.2 billion. The value of the company depends on the likelihood of achieving its projections.</p>\n<p>A fleet sales strategy makes sense for Lordstown since it would be too expensive to build a retail sales and service capability. However, it's not clear that this will become a distinct competitive advantage. Some small fleets may still prefer to buy their EV pickups from established local dealers with service capabilities.</p>\n<p><b>Canoo (GOEV)</b></p>\n<p>Canoo started as Evelozcity in 2017 and rebranded as Canoo in the spring of 2019. Canoo is a Los Angeles-based company that develops electric vehicles. It has over 350 employees. Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space, which is adaptable to support a wide range of vehicle applications for consumers and businesses. Canoo expects to launch its first consumer model in 2022, simply named the Canoo that will be available by subscription, followed shortly after by a multi-purpose delivery vehicle and a sports vehicle, each built off of the same underlying platform. Canoo went public using a SPAC (Hennessy Capital Acquisition) and now trades as GOEV.</p>\n<p>Canoo's all-electric skateboard-like platform is designed to support both consumer retail and commercial vehicle configurations. The EV leverages Canoo's flat skateboard architecture for a high level of usable interior space. Its commercial vehicle program, expected in 2023, addresses a projected $50B+ last-mile delivery market with an EV platform that maximizes cargo volume.</p>\n<p>Hyundai Motor Group said it would jointly develop an electric vehicle platform with the company.</p>\n<p>Canoo's platform strategy is interesting. It could be used as an EV platform for custom fleets of delivery vehicles. It has no AV development, but it claims to be \"AV Ready\" which could be useful for AV companies wanting to build custom AV delivery fleets.</p>\n<p>Its all-electric multi-purpose delivery vehicle is expected to be priced starting at approximately $33,000. It is based on Canoo's proprietary electric platform and will be offered in two initial size variants, with others to follow. Limited availability will begin in 2022, with scaled production and launch planned for 2023. Customers can pre-order the multi-purpose delivery vehicle for a refundable deposit of $100 per vehicle</p>\n<p>It plans to offer two multi-purpose delivery vehicles: the MPDV1 and the larger MPDV2. The first has a 200-foot cargo volume and a range of 130-200 miles. It offers more capacity than today's ICE delivery vehicles at an affordable price with urban mobility enabled by a space-efficient footprint. The vehicle is also designed to fit within many height-restricted areas like parking garages.</p>\n<p>The MPDV2 has a cargo volume of 450 feet and a range of 90-190 miles. Its roof and step-in height enable individuals to easily walk-in the vehicle and accommodate a standing position while inside.</p>\n<p>The original SPAC transaction provided approximately $600 million, with a pro forma equity value of approximately $2.4 billion. Like other SPAC mergers, its stock price has fluctuated. It currently trades at about $15.90 per share for a market cap of approximately $3.7 billion. Canoo projects $2.0 billion in revenue in 2025 from about $500 million in engineering services, $1.2 billion from its consumer vehicle subscriptions, and the remainder from its commercial program. Canoo expects revenue of more than $300 million in 2022 after the launch of its lifestyle consumer vehicle.</p>\n<p>Since its first products are aimed at consumers, as is most of its forecasted 2025 revenue, I categorize it primarily as a consumer EV company. However, I think the design of that Canoo vehicle may not attract enough customers. More importantly, its subscription service way of selling its EV to consumers is risky. I think it has more potential in the commercial market, however, a dual strategy (consumer and commercial) is challenging. I like its skateboard platform design and that could prove to be a competitive advantage.</p>\n<p><b>Rivian</b></p>\n<p>Although not yet public, I include Rivian because it has plans for an IPO as soon as Sept 2021, although it could slip into 2022. There are rumors that the company is targeting a market valuation of approximately $50B. Rivian has already raised more than $8 billion to date from Amazon, Ford, T. Rowe Price, and others.</p>\n<p>Rivian has developed and vertically integrated a connected electric platform that can be flexibly applied to a range of applications, including the company's adventure products, as well as B2B products such as the Amazon last-mile delivery vans. The company's initial products, the R1T and R1S, provide a combination of performance, off-road capability, and utility. These vehicles will be produced at Rivian's manufacturing plant in Normal, Ill., with customer deliveries expected to begin in summer 2021. The launch of the R1S three-row electric SUV will follow in August.</p>\n<p>Additional lower-priced models are being planned. The expected R2 series would include at least two smaller electric vehicles to coincide with the smaller platform, then another platform for R3.</p>\n<p><b>Commercial Delivery EV Companies</b></p>\n<p>EV truck companies differ based on the type of truck they are developing. The technology and markets are very different, so I separate them into two categories. The first category includes commercial delivery vehicles.</p>\n<p>Companies making EV delivery vehicles have some major advantages that could make them good investments. First, delivery vehicles typically travel less than 250 miles during a day, so they can be conveniently recharged overnight. Secondly, they are typically sold in large quantities to fleets. This means that building a retail sales infrastructure is not necessary. It only requires a small salesforce. In addition, maintenance can also be provided at the fleet's operational center, so not as many service centers are required.</p>\n<p>The disadvantage in this market is that there are a relatively small number of customers that buy in large volumes, so if the EV manufacturer can't get enough large customers, they may not be able to stay in business. GM estimates the combined market opportunity for parcel and food delivery, as well as reverse logistics, in the U.S. will be more than $850 billion by 2025.</p>\n<p>The commercial market is expected to be a major growth area for EVs. Other start-up automakers like Rivian as well as legacy automakers such as Ford, Daimler, and GM have announced plans to enter the segment. GM recently announced its BrightDrop ecosystem for commercial customers that includes an all-new electric delivery van, the EV600 available by the end of 2021, as well as an integrated autonomous pallet and related services.</p>\n<p>This group of EV companies focuses primarily on commercial delivery. In general, these are in the light-duty trucks category, although it also includes some medium-duty trucks. This generally includes the following commercial truck classes:</p>\n<ul>\n <li>Class 1: This class of trucks has a GVWR of 0-6,000 pounds or 0-2,722 kilograms.</li>\n <li>Class 2: This class of trucks has a GVWR of 6,001-10,000 pounds or 2,722-4,536 kilograms.1</li>\n <li>Class 3: This class of trucks has a GVWR of 10,001-14,000 pounds or 4,536-6,350 kilograms.</li>\n</ul>\n<p>It can also include somewhat larger medium-duty EV delivery trucks:</p>\n<ul>\n <li>Class 4: This class of trucks has a GVWR of 14,001-16,000 pounds or 6,351-7,257 kilograms.</li>\n <li>Class 5: This class of trucks has a GVWR of 16,001-19,500 pounds or 7,258-8,845 kilograms.</li>\n</ul>\n<p>EV delivery trucks also have an advantage over ICE vehicles because they can have a greater delivery storage space. Smaller buses and transit vehicles are also included in this category.</p>\n<p>Last-mile package delivery is not an immediate-term autonomous vehicle opportunity because it requires a delivery person to be on the truck anyway.</p>\n<p><b>Workhorse Group (WKHS)</b></p>\n<p>Workhorse has been a public company for ten years. Originally AMP Electric Vehicles, it was established in 2007 as a developmental-stage vehicle electrification company, focusing on conversions. AMP Electric Vehicles went public in 2010 trading on the OTC market under the AMPD symbol. When the economic benefits of conversion became less certain, it pivoted away from passenger vehicles and began to focus on electrifying commercial vehicles. AMP acquired the Workhorse brand and the Workhorse custom chassis assembly plant in Union City. In March of 2013, AMP formally changed its name to Workhorse Group Incorporated.</p>\n<p>The Company designs and builds a last-mile delivery electric vehicle. The C-Series EVs cover the larger size of commercial delivery vehicles in Classes 3-5. As part of its solutions, it also develops cloud-based, real-time telematics performance monitoring systems. It sells its vehicles to fleet customers directly and through its primary distributor, Ryder Systems. It is currently focused on bringing the C-Series electric delivery truck to market and fulfilling the existing backlog of orders.</p>\n<p>The C-Series looks like a viable EV replacement for the 350,000 last-mile delivery vehicles sold in the U.S. annually. It recently announced an increased driving range from 100 miles to 160, which should open more market opportunities. It has a viable short-term go-to-market strategy selling fleets to delivery companies. It currently has test vehicles with UPS, DHL, FedEx, Amazon, and Walmart.</p>\n<p>Workhorse recently lost out on the United States Postal Services Next Generation Delivery Vehicle project, however, it is in the process of challenging this decision. Additionally, its investment in Lordstown also provides an indirect investment opportunity. On November 7, 2019, the Company entered a transaction with Lordstown Motors to grant LMC a perpetual and worldwide license to certain intellectual property relating to its W-15 electric pickup truck platform and related technology in exchange for royalties, equity interest (approximately 10%) in LMC, and other considerations. This was a $320 million asset for Workhorse at the end of 2020.</p>\n<p>Workhorse received a significant increase in orders in Q4/2020 but built just seven trucks in the fourth quarter due to production systems and supply chain issues. Workhorse plans to continue to take it slow, striving to build three of its composite-body battery-electric trucks a day in March with a plan to reach 10 trucks a day by the end of June. This makes its original 2021 goal of producing 1,800 trucks unlikely. It partnered with Hitachi and Hitachi Capital America (\"HCA\") to improve the Company's manufacturing, operational, and supply chain capabilities as well as to develop a national dealer network to support Workhorse's sales with vehicle financing options for both dealers and customers.</p>\n<p>Workhorse has a market cap of approximately $1.9 billion. While Workhorse had ongoing revenue, unlike many other new EV companies, its revenue is still insignificant. It had a revenue of $1.4 million in 2020 and $377,000 in 2019. It has a backlog of over 8,000 vehicles but doesn't expect to be able to build many of those in 2021. It raised $270 million in capital over several financings, providing the Company with additional capital to build its backlog. It had cash of $215 million as of March 1, 2021. Because Workhorse is a traditional public company, it hasn't made long-term financial projections like SPAC-based companies.</p>\n<p><b>Electric Last Mile (FIII)</b></p>\n<p>Electric Last Mile, based in Troy Michigan, was founded by Jason Luo, former CEO of Ford China before it was acquired by China's Ningbo Joyson Electronic for $920 million in 2016, including James Taylor, former CEO of GM's Hummer brand and former CEO of electric car maker Karma Automotive. Taylor serves as the company's top executive with Luo as the company's chairman.</p>\n<p>The company plans to launch a small electric delivery van (class 1-2), called the UD-1, in the third quarter of 2021, and then introduce an Urban Utility vehicle (Class 2-3) in 2022. These are expected to compete with Workhorse, Rivian, Canoo, as well as the Ford eTransit and the GMC BV1, none of which is expected to be a Class 1 vehicle.</p>\n<p>The company says it has 30,000 preorders for its van, representing more than $1 billion in sales. Electric Last Miles vehicles will be based on Sokon's commercial van made in China through a joint venture with Dongfeng Automobile Co Ltd. in order to accelerate development time.</p>\n<p>Electric Last Mile (ELM) is expected to manufacture the vans in a former General Motors Co. Hummer plant in Mishawaka, Ind., that the company is acquiring from China's Chongqing Sokon Industry Group Stock Co. Ltd. The plant has the capacity to produce 100,000 vehicles annually with plans to build approximately 4,000 UD-1 vans by the end of 2021. The UD-1 has a starting price of $32,500 and a range of 150 miles. The battery for the vehicle is expected to be supplied by the Chinese battery company CATL.</p>\n<p>ELM believes that it has a competitive advantage because its first vehicle, the ELM Urban Delivery, is scheduled to be available in 2021. It is based on a proven, existing platform developed and sold by Sokon Group in the Asian market, where there are 30,000 of these electric delivery vehicles driving 1.5 million miles every day. At the close of the business combination, ELM will be an independent, U.S. company producing electric vehicles in the U.S. with Sokon Group providing access to its know-how, parts supply, and field and service data.</p>\n<p>ELM expects that the Urban Delivery vehicle will be the first electric delivery vehicle coming to market in the class 1 category (GVW of 6,000 lbs or less) in the U.S. It will also have 35% more carrying volume compared to similar ICE delivery vehicles, a critical part of the value proposition. It also anticipates that its price and greater carrying volume will allow it to take market share from the class 2 category of vehicles as well.</p>\n<p>Its crossover product portfolio strategy targets commercial delivery vehicles spanning from class 1 to class 3, which represents over 80% of the last mile market.</p>\n<p>ELM anticipates $122 million in revenue in 2021, rapidly increasing to $3 billion in 2025. The price of FIII stock increased immediately following its announcement with Electric Last Mile, rising more than 40% to $14.50, but now it has dropped closer to the original deal price to $10.25 for a market cap of approximately $1.5 billion.</p>\n<p><b>GreenPower Motor Company (GP)</b></p>\n<p>GreenPower Motor Company Inc. is a Canadian battery-electric bus manufacturer with multiple models of high- and low-floor vehicles, including transit buses, school buses, and shuttles. GreenPower offers commercial vehicles for delivery, public transit, schools, vanpooling, micro-transit, shuttles, and is developing a capability of autonomous operation. It went public on August 28, 2020.</p>\n<p>In 2014 GreenPower launched its first purpose-built, battery-electric bus, the EV350, 40-foot transit bus. GreenPower received its first order in 2017 for ten EV350s from the City of Porterville, California.</p>\n<p>GreenPower's electric buses are purpose-built and designed to be all-electric, allowing it to put the battery and propulsion system in optimized locations that provide weight and structural advantages. Its primary EV is the EV Star with more than 120 vehicles delivered. It comes in several variations:</p>\n<ul>\n <li>EV Star - Up to 19 passengers</li>\n <li>EV Star Plus - Up to 24 passengers</li>\n <li>EV Star ADA - Passenger and curbside lift for ADA</li>\n <li>EV Star Cargo - 5,000 pounds of load</li>\n <li>EV Star Cargo Plus - 570 cubic feet of cargo space.</li>\n</ul>\n<p>Its EV school bus seats up to 90 students and has a range of up to 150 miles.</p>\n<p>GreenPower had revenue of $13.5 million in 2020 It has about $21 million in cash. It's an interesting alternative since it is already shipping EVs, has revenue, and also has a lower market cap of less than $1 billion. Since it did a traditional IPO, it hasn't published longer-term financial forecasts.</p>\n<p><b>Arrival (CIIC)</b></p>\n<p>Arrival was founded in 2015 in London to make a variety of commercial electric vehicles. It has approximately 1,200 employees across 11 cities in 8 countries. In November 2020, Arrival and the SPAC CIIG entered into a business combination agreement with an implied valuation of $5.39 billion.</p>\n<p>Arrival plans on releasing four commercial EVs over the next few years.</p>\n<ul>\n <li>Q4/2021: An electric bus for 8-125 passengers and a range of 240-400km</li>\n <li>Q3/2022: An electric delivery van with a payload of 975-2,000kg and a range of 150-340km</li>\n <li>2022: A larger electric van with a payload of 4,000 kg and a range of 190-400km</li>\n <li>2023: a small vehicle platform with a range of 100-300km.</li>\n</ul>\n<p>This mix provides a nice diversified portfolio of EVs. Arrival claims to have received orders from UPS for 10,000 vans. It plans a unique flexible manufacturing approach using micro-factories with each projected to manufacture 10,000 vans per year. All of its vehicles use a modular skateboard electric platform.</p>\n<p>Arrival ambitiously projects $14.1 billion in revenue in 2024. Half of that revenue is expected from delivery vans, 22% from buses, and the rest from the large van and its small vehicle platform. With CIIC's stock price at $24.80 per share, Arrival's current market cap is relatively high at approximately $15.0 billion. Justifying its market cap depends on its ability to release, sell, and produce its four commercial EVs.</p>\n<p><b>Proterra (ACTC)</b></p>\n<p>Proterra is a commercial electric vehicle company with over a decade of production experience. The Company has designed an end-to-end, flexible technology platform that claims to deliver higher performance and a low total cost of ownership to original equipment manufacturers (OEMs) and end customers.</p>\n<p>Proterra, Inc., was originally founded in Golden, Colorado, by Dale Hill in 2004. Later the company wanted to take the lead in creating zero-emission, U.S.-based transit buses. In 2010 it moved its manufacturing plant from Golden, Colorado to Greenville, South Carolina. In 2015, Proterra was awarded a $3 million grant from the California Energy Commission to fund the design, development, and construction of the company's battery-electric transit bus manufacturing line in the City of Industry, California. It moved its headquarters from Greenville, South Carolina, to Burlingame, California, in October 2015. Proterra raised more than $600 million in funding.</p>\n<p>It is going public through the SPAC ArcLight (ACTC) with a pro forma valuation of $1.6 billion. Upon completion of the transaction, Proterra expects to have up to $825 million in cash to fund growth initiatives, including R&amp;D and the expansion of its next-generation battery program.</p>\n<p>Proterra has three complementary businesses:</p>\n<ul>\n <li><b>Proterra Powered</b>: Delivering battery systems and electrification solutions to commercial vehicle manufacturers</li>\n <li><b>Proterra Transit:</b>Providing an electric transit bus OEMs</li>\n <li><b>Proterra Energy:</b>Offering turnkey charging and energy management solutions.</li>\n</ul>\n<p>The company's battery systems have been proven in more than 16 million service miles driven by its fleet of transit vehicles and validated through partnerships with commercial vehicle OEMs. Proterra has produced and delivered more than 300 megawatt-hours of battery systems, more than 550 heavy-duty electric transit buses, and installed 54 megawatts of charging systems.</p>\n<p>Proterra expected $193 million of revenue in 2020, with an estimated $750 million in existing orders and backlog. It projects $2.5 billion in revenue in 2025, with about 1/3 coming from its Transit business, and 2/3 From Powered &amp; Energy. At ACTC's current stock price of $17.85, Proterra has a market cap of about $4.3 billion.</p>\n<p><b>Rivian</b></p>\n<p>Rivian (see earlier description in consumer retail) will also compete in the commercial delivery market. It has been working with Amazon (a major investor) to build large electric delivery vans for Prime. Developed specifically for Amazon, a small fleet of Prime vans is on the road now, testing deliveries to customers and gathering feedback. In late fall, it could grow to a large fleet as Rivian ramps up the volume.</p>\n<p>The EV range of 150 miles is tailored to Amazon's use cycle to optimize the size, weight, and cost of the commercial vehicle. Rivian has three sizes of batteries, but Amazon is starting with just one of them.</p>\n<p><b>Canoo (GOEV)</b></p>\n<p>See the previous summary under consumer retail EV.</p>\n<p>Medium and Long-Haul Trucking EV Companies</p>\n<p>Companies developing medium- and long-haul EV trucks face a more difficult challenge with battery range. These trucks haul much more weight than commercial delivery vehicles and because they are designed for long distances, they can't stop every 200-300 miles for recharging.</p>\n<p>For this reason, many of these companies are using unique hybrid technologies for their trucks. The EV trucks in this category are primarily heavy-duty but also include some medium-duty trucks and specialty vehicles. A couple of the companies focus on retrofitting trucks to be electric.</p>\n<p><b>Medium-Duty Trucks</b></p>\n<p>The medium-duty trucks category includes commercial truck classes 4, 5, and 6:</p>\n<ul>\n <li>Class 4: This class of trucks has a GVWR of 14,001-16,000 pounds or 6,351-7,257 kilograms.</li>\n <li>Class 5: This class of trucks has a GVWR of 16,001-19,500 pounds or 7,258-8,845 kilograms.</li>\n <li>Class 6: This class of trucks has a GVWR of 19,501-26,000 pounds or 8,846-11,793 kilograms.1</li>\n</ul>\n<p><b>Heavy-Duty Trucks</b></p>\n<p>The heavy-duty trucks category includes commercial truck classes 7 and 8:</p>\n<ul>\n <li>Class 7: This class of trucks has a GVWR of 26,001 to 33,000 pounds or 11,794-14,969 kilograms.</li>\n <li>Class 8: This class of trucks has a GVWR of greater than 33,001 pounds or 14,969 kilograms and includes all tractor-trailers.</li>\n</ul>\n<p>The Tesla Semi is a battery vehicle planned for a range of 300 or 500 miles and a speed of 60 MPH with 80,000 lbs of cargo. Tesla plans to start shipping the Semi later this year when it expects to have sufficient cell volume to meet its needs with the production of its 4680 battery pack.</p>\n<p><b>Nikola</b><b>(NASDAQ:NKLA)</b></p>\n<p>Nikola has been a very controversial company. Founded in 2015, it originally had two different strategies. Its primary strategy is to lease fuel-cell electric vehicle (FCEV) Class-8 heavy trucks and provide the refueling infrastructure to corporate customers. Its second strategy was to develop the Badger EV truck using GM technology.</p>\n<p>Nikola originally merged with a SPAC to go public, at an enterprise value of approximately $3.3 billion. On June 6th, 2020, its market cap jumped to more than $30 billion, then later it dropped because of problems with its originally planned deal with GM.</p>\n<p>Nikola originally expected a deal with General Motors that included the production of the Nikola Badger EV pickup truck. The proposed arrangement was that GM would take a $2 billion equity stake in Nikola and in return would engineer and produce the Badger. In November 2020, GM and Nikola scrapped the original arrangement. Now it appears that GM will supply Nikola with only its Hydrotec hydrogen fuel-cell technology to integrate into the EV manufacturer's commercial class 7 and class 8 zero-emission semi-trucks. So, the Badger is probably dead.</p>\n<p>Nikola now sees semi-trucks as the company's \"core business\" and fuel cells as an increasingly important segment of the semi-truck market thanks to their efficiency in weight and consumption. It expects to begin testing by the end of 2021.</p>\n<p>It has received pre-orders from Anheuser-Busch and a few other companies, but it doesn't expect deliveries until 2023. Hydrogen fueling stations are key to its strategy, both providing a source of revenue and necessary fueling infrastructure for the trucks to operate, but they also cost a lot. In its March 2020 investor deck, Nikola said a single station capable of fueling 210 trucks a day would cost $16.6 million. Its initial planned network of 700 stations would cost roughly $11.6 billion.</p>\n<p>Nikola was also accused of misrepresentation, and its executive chairman and founder stepped down.</p>\n<p>At the time of the SPAC merger, it projected an optimistic forecast of more than $3 billion in revenue by 2024, with a net income of $145 million. Most of that revenue was expected to come from its Badger truck, which is no longer in the plans. Yet its market cap is still almost $6 billion.</p>\n<p><b>Hyliion (HYLN)</b></p>\n<p>Hyliion, founded in 2015 in Austin, went public in October 2020 through the SPAC Tortoise Acquisition Corp. (SHLL). In March 2019, automotive parts manufacturer Dana Inc. made an equity investment into Hyliion, and together they are manufacturing and marketing Class 8 EVs to Dana's customers, including Volvo, Navistar, and Peterbilt.</p>\n<p>Hyliion's strategy is unique, and a very different strategy from Nikola. Essentially it generates electricity onboard the truck using compressed natural gas (CNG). This should be a benefit for longer-range trucking. Hyliion's Hypertruck concept involves an all-electric drivetrain utilizing Dana's electric motor, inverter, and axle technologies. The truck's batteries are fueled by onboard tanks of CNG. With some 700 CNG stations already operating nationwide, it believes that there no need to build out expensive superchargers or hydrogen infrastructure.</p>\n<p>Kuwait-based logistics company, Agility, has already placed an order for 1,000 Hypertrucks with initial deliveries targeted in 2022. Combined with a fully electric drivetrain and a natural gas-powered onboard generator to recharge the battery, the Hypertruck ERX will provide more than 1,000 miles of range.</p>\n<p>Hyliion will eventually compete with Nikola (FCEV) and the Tesla battery-based Semi, but it plans to have a longer range and lower operating costs. Its HyperTruck ERX is expected to be available in 2021. It also has a hybrid-electric truck.</p>\n<p>The combination with SHLL had an estimated market cap of about $1.5 billion, with approximately $530 million going to the company, including a $325 million fully committed PIPE. At approximately $13.50 per share, its current market cap is approximately $2.2 billion, significantly down from its peak. Hyliion projects $2 billion in revenue in 2024, which it claims is only about 2% of the addressable market.</p>\n<p><b>XL Fleet (XL)</b></p>\n<p>XL Fleet is a 10-year old company that went public through the SPAC Pivotal. XL is different because it provides fleet electrification modifications for ICE trucks across a wide range of vehicle classes (class 2-5) and types. It has over 200 of the largest commercial and municipal fleets as customers, with more than 3,200 XL systems deployed and over 130 million miles driven by customers to date. XL's customer base includes FedEx, Coca-Cola, PepsiCo, Verizon, the City of Boston, Seattle Fire Department, Yale University, and Harvard University.</p>\n<p>XL's business model is essentially retrofitting existing trucks to be hybrids and then later expanding into fully electric truck conversions. It claims to be creating a fully integrated platform for this. It remains to be seen if the retrofitting business will continue to grow or will it diminish when more trucks are designed and manufactured with EV capabilities.</p>\n<p>Unlike some other EV companies that have no revenue yet because they are still developing products, XL is more of a small company doing low-volume retrofits. It had $7.2 million in revenue in 2019, $21 million in 2020, and estimates $76 million in 2021, but it forecasts $1.3 billion in revenue in 2024 in its investor presentation. It plans to do this by expanding its product line from hybrid to plug-in hybrid to fully electric across a broader range of trucks. It claims to have a $220 million sales pipeline for the next 12 months.</p>\n<p>Short-seller, Muddy Waters, claimed after talking to former XL Fleet employees, that it believed the company significantly exaggerated its order backlog, that the return on investment for the company's products was likely negative, and that it would not be able to compete with big car makers on electrification. The company thoroughly refuted these claims.</p>\n<p>The original enterprise valuation was approximately $1.4 billion at a $10 share price for the merger. Its price jumped by about 35% but has since gone back down to $12.40 for a market cap of about $1.8 billion. Although XL Fleet has revenue and other EV companies don't, this may not be an advantage. It appears to be a small company for many years that has gone public at a high valuation with grand plans. The risks are in its ability to make a jump from $76 million in 2021 to $1.3 billion in 2024, as well as the question about retrofitting being replaced by new EV trucks by then.</p>\n<p><b>Xos (NGAC)</b></p>\n<p>Xos Trucks specializes in the field of manufacturing fully electric commercial vehicles. It features a software platform that is designed to accommodate an extensive variety of medium-duty bodies, wheelbase, and range requirements up to 200 miles. It was founded in 2016 and headquartered in North Hollywood, California. It received $20 million of investment in 2020 and now is going public through a merger with the SPAC ExtGen Acquisition Corporation (NGAC) at an estimated proforma value of $1.965 billion.</p>\n<p>Its focus is on medium- and heavy-duty last mile and return-to-base segments (class 5/6, class 6/7, and class 7/8) commercial fleets and specialty vehicles. Some vehicles are currently in production and in regular on-road operations with key fleet customers, and it claimed 6,000 unit orders in backlog.</p>\n<p>Its MD-platform is for classes 5-6 for pickup and delivery. Its HD X-Platform is an adaptable chassis for highway, vocational, and severe work conditions. Its market is for customers with highly predictable routes that allow for batteries designed for a more limited range. A significantly larger frame and smaller battery pack allow for reduced density.</p>\n<p>Xos has a bundled all-in-one offering that allows fleets to access all the tools and services they need to go electric with a single point of contact at a fixed monthly expense.</p>\n<p>Xos had $3 million in revenue in 2020 and estimates $14 million in 2021. However, it forecasts $5.2 billion in revenue in 2025. At the current stock price of $10.30, its market cap is approximately $2 billion, about the same as its original SPAC transaction.</p>\n<p><b>Lion Electric (NGA)</b></p>\n<p>Lion Electric is a Canadian company founded by Marc Bédard in 2008. Its focus is to be a leader in designing, developing, and manufacturing purpose-built urban electric vehicles; vehicles that are specifically designed as delivery trucks, refuse trucks, bucket trucks, moving trucks, school buses, and shuttle buses. It has over 300 all-electric vehicles on the road today.</p>\n<p>In November 2020, it announced that it was going public through the SPAC NGA. The transaction had an estimated pro forma enterprise value of $1.5 billion.</p>\n<p>It plans on seven new truck models and one new school bus, for a total of 15 all-electric vehicles, representing a full line-up from class 5 to class 8 electric trucks and a full line-up of electric school buses. Its vehicles are produced at its existing manufacturing plant, which has the capacity for the production of up to 2,500 vehicles per year. It intends to open a new plant in the U.S. capable of delivering over 20,000 Lion trucks and buses per year by 2022.</p>\n<p>Its all-electric class 6 and class 8 commercial urban trucks combine power, comfort, and modern technology. Custom-built chassis and cabin designed specifically for an all-electric heavy-duty vehicle. The LionC is an all-electric Type C school bus manufactured in North America. The body and chassis were specifically designed to deliver optimal performance. The LionM is an all-electric midi/minibus that meets paratransit and public transportation requirements. Created and designed specifically for the paratransit market, the is spacious and offers unique features that provide enhanced security and accessibility to the end-users.</p>\n<p>Lion Electric had $29 million in revenue in 2020 and expects $204 million in 2021. It forecasts revenue to jump to $3.6 billion a few years later in 2024. Its current market cap is approximately $3.6 billion based on its current stock price of $18.33.</p>\n<p><b>Lightning eMotors (GIK)</b></p>\n<p>Lightning eMotors, formerly Lightning Systems, was founded in 2008 and is headquartered in Loveland, Colorado. It provides fleet electrification for familiar commercial vehicle platforms by retrofitting them with its electric powertrains. Lightning eMotors produces electric fleet medium- and heavy-duty vehicles, including delivery trucks, shuttle buses, passenger vans, ambulances, bucket trucks, chassis-cab models, and city transit buses. It focuses on urban commercial zero-emission vehicles with a full range of class 3 through class 7 battery-electric and fuel-cell electric vehicles.</p>\n<p>Lighting eMotors helps commercial fleets achieve their sustainability goals by offering zero-emission battery-electric vans, trucks, and buses based on familiar, proven vehicles from manufacturers such as Ford and GM. It works with customers, to help them identify their unique commercial electric vehicle, charging, and grant support needs.</p>\n<p>The Lightning products include integrated all-electric powertrains for the Ford Transit 350HD passenger and cargo vans, Ford E-450 shuttle bus and cutaway models, Ford F-59 step/food van, Ford F-550 cargo trucks and buses, Chevrolet 6500XD Low Cab Forward model, and 30-foot, 35-foot, and 40-foot transit buses.</p>\n<p>Lightning has 120 vehicles on the road, and 1,500 vehicles already on order from customers. In addition to making vehicles and powertrains, Lightning also provides a full suite of charging solutions for customers.</p>\n<p>The deal with GIK has an enterprise value of $650 million, although there is also an Earnout of 20.0% of total pro forma shares outstanding to Lightning eMotors shareholders if the stock crosses certain price thresholds.</p>\n<p>At the current price, of $11.73, GIK has a market cap of approximately $1 billion, a little more than the original transaction valuation. Similar to XL Fleet, Lightning has the risk that retrofitting may only be an interim business opportunity until more EV trucks are produced.</p>\n<p><b>Public Chinese EV Companies</b></p>\n<p>China will be the biggest EV market opportunity, and EV start-ups may do better there because there isn't as much entrenched competition from domestic auto companies. China is already the largest EV market in the world, with almost a million EVs sold in 2019. Its EV market represents almost half of the global EV sales volume and is much larger than the U.S. market.</p>\n<p>The Chinese government has ambitions to become a global leader in new energy vehicles. Soon after the coronavirus outbreak subsided within the country, Chinese authorities announced new policies to support the auto and electric vehicle industries.</p>\n<p>These Chinese companies are traded through American depository shares (ADS) that contain certain risks. There are financial reporting and transparency risks with these companies, and on top of that, the newer companies are being classified as \"emerging growth\" companies that are already exempt from certain transparency requirements set out in the Sarbanes-Oxley Act of 2002. Like the previous EV stock, these stocks have also been very volatile.</p>\n<p>In addition to legacy auto manufacturers like BYD, there are also three Chinese EV companies that are publicly traded through American depositary shares.</p>\n<p><b>BYD Co., Ltd. (OTCPK:BYDDY)</b></p>\n<p>BYD, which means build your dreams, is the automotive subsidiary of the Chinese multinational BYD Co Ltd. It was founded in January 2003, following BYD Company's acquisition of Tsinchuan Automobile Company. The company produces automobiles, buses, electric bicycles, forklifts, rechargeable batteries, and trucks. The current model range of automobiles includes electric vehicles, plug-in hybrids, and petrol-engined vehicles. Thirteen years ago, on the advice of his famously skeptical lieutenant, Charlie Munger, Warren Buffett made a $232 million investment in BYD, a relatively unknown Chinese car company.</p>\n<p>By parlaying BYD's rechargeable battery technology into a fast-growing carmaking operation, it gained a foothold in the fledgling electric vehicle market, building longer-lasting batteries and cheaper vehicles than American and Japanese manufacturers were managing to do at the time. In BYD, Buffett and Munger believed they had found a company with a shot at one day becoming the largest player in a global automobile market that was inevitably going electric.</p>\n<p>BYD's start to 2021 was strong with 19,871 plug-in electric cars sold in January in China, including hybrid plug-ins. That was a big increase over 2020 but not as much as 2019.</p>\n<p><b>LI Auto (LI)</b></p>\n<p>Lixiang, formerly known as Chehejia (\"Car and Home\"), was founded in 2015 and went public in the U.S. on July 30th, 2020. It is a Beijing-based electric-vehicle startup with vertically integrated manufacturing. It designs, researches, manufactures, sells, and offers services featuring a few models of electric vehicles.</p>\n<p>The company's SUVs are hybrids of a sort. They use electric motors (one on the front axle and one on the rear), but those motors are powered by a combination of a 40.5kWh battery pack<i>and</i>a 1.2-liter turbocharged engine paired to a 45-liter fuel tank and a 100kW electric generator, which generates power for the battery pack in real-time. The idea is that the car can be driven for about 100 miles on battery power alone, but it has a total range of nearly 500 miles when leveraging the combustion engine generator.</p>\n<p>The Company's primary product is an SUV under its brand Li ONE. It also sells peripheral products and provides related services, such as charging stalls, vehicle internet connection services, and extended lifetime warranties. Li Auto is looking to sell a variety of SUVs built on its hybrid technology that range from around $21,000 to about $70,000. The company started shipping its first model in late 2019. It's a midsize SUV is well-appointed and has lots of touchscreens and technology. A full-size premium version is planned for release in 2022.</p>\n<p>Deliveries of Li ONEs were 14,464 vehicles in the fourth quarter of 2020, representing a 67.0% quarter-over-quarter increase and setting a new quarterly record. Deliveries for the full year 2020 reached 32,624 vehicles. Revenue in the fourth quarter was $635 million.</p>\n<p>LI auto went public on July 30th, 2020, raising $1.1 billion at an initial price of $15.50 per share but quickly reached almost $24. It is currently valued at approximately $37 billion at a price of approximately $25.72 per share.</p>\n<p><b>XPeng (XPEV)</b></p>\n<p>Xiaopeng (XPeng) Motors is a Chinese electric vehicle and technology company that designs and manufactures smart cars. It was founded in 2015 and went public on August 27, 2020, using American depository shares, raising about $1 billion. To date, it has raised about $2.6 billion.</p>\n<p>XPeng aims its EVs at technology-savvy middle-class Chinese consumers, with prices ranging from $22,000 to $45,000 after government subsidies. In some ways, it is a Tesla knock-off at a much lower price. XPeng started production of the G3 in November 2018, and as of July 31, 2020, delivered 18,741. It started production of the P7 and began delivery in May 2020, and as of July 31, 2020, it had delivered 1,966 EVs. The P7 has a range of more than 400 miles. It plans to launch a third Smart EV, a sedan, in 2021. The G3 was among the top-three best-selling electric SUVs in China in 2019.</p>\n<p>XPeng is interesting because it has a platform strategy and is moving aggressively into autonomous driving. It uses a platform strategy to expand product offerings by launching one Smart EV model each year to broaden the addressable market. It builds new models on two highly flexible Smart EV platforms, called David and Edward, respectively. The David platform has been designed for vehicles with wheelbases ranging from 2,600 millimeters to 2,800 millimeters, and the Edward platform has been designed for vehicles with wheelbases ranging from 2,800 millimeters to 3,100 millimeters. It also adopted a platform approach for software systems.</p>\n<p>XPeng claims to be developing an autonomous driving capability for its EVs. The P7 is the first production vehicle to feature the NVIDIA DRIVE AGX Xavier system-on-a-chip (SoC) autonomous driving platform. The company's Smart Electric Platform Architecture (SEPA) runs on 2 chips - NVIDIA for the XPILOT and Qualcomm's Snapdragon™ 820A for intelligent services and infotainment, including cameras inside and outside, radars, HD-map, and ultrasonic sensors. Like Tesla, it claims it can create sufficiently-autonomous driving without lidar.</p>\n<p>To enhance brand recognition and allow more people to experience its Smart EVs, it deployed a small number of Smart EVs in a ride-hailing service in Guangzhou on a trial basis, but it has no current plan to scale up a ride-hailing service.</p>\n<p>Xpeng sees first-quarter 2021 deliveries rising 450% year-over-year to 12,500 vehicles. Revenues are expected to increase 533% from a year ago. The company didn't provide bottom-line estimates for the quarter, but will likely post another net loss as it ramps up manufacturing, invests in R&amp;D, and builds out a new manufacturing plant set to open in 2022.</p>\n<p>Xpeng reported selling 12,964 vehicles in Q4 2020, up 303% from a year ago. It delivered a total of 27,041 vehicles in 2020, up 112%. It makes the P7 sedan, a rival to the made-in-China Tesla Model 3, and the small G3 SUV.</p>\n<p>The stock opened on August 27, 2020 at a price of $15 and a valuation of $11 billion, but its stock jumped more than 40% shortly after. Its current valuation is about $35 billion at a stock price of approximately $36.13 per share. It had about $300 million in revenue in 2019 with a loss of about $500 million.</p>\n<p><b>Nio (NIO)</b></p>\n<p>Unlike previous companies, Nio has been a public company for some time. It originally went public in the U.S. back in September of 2018, selling IPO shares at $6.26 and raising $1 billion.</p>\n<p>Nio's IPO was far from smooth. After going public at $6.26 per share, it traded down to nearly $1. Then in the middle of the coronavirus outbreak, Nio received a much-needed investment of $1 billion from investors, including state-backed entities.</p>\n<p>Nio designs, jointly manufactures, and sells smart and connected premium electric vehicles, attempting to develop next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Joint manufacturing means that it uses a state-owned contract manufacturer to build its cars.</p>\n<p>Nio plans to provide customers with comprehensive, convenient, and innovative charging solutions and other user-centric services. It began deliveries of the ES8, a 7-seater high-performance premium electric SUV in China in June 2018, and its variant, the six-seater ES8, in March 2019. Nio officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries in June 2019. It officially launched the EC6, a 5-seater smart premium electric Coupe SUV, in December 2019 with deliveries in 2020.</p>\n<p>Nio sold 17,353 EVs in Q4/2020 and 43,728 for the year. It warned a shortage in chips and batteries will force a production slowdown to 7,500 a month in Q2 from 10,000 vehicles a month in February.</p>\n<p>Nio currently trades at more than $43 per share, including a big jump recently, for a valuation of approximately $48 billion. It had revenue of $2.3 billion in 2019 for a loss of $3.8 billion.</p>\n<p><b>Summary</b></p>\n<p>It's almost a foregone conclusion that EVs will replace ICE vehicles in the next decade, and this should provide exciting new investment opportunities. However, the investment terrain is complex. There are dozens of new start-ups where the public can now invest that were previously exclusively venture capital investment opportunities. Many of these are following different roads to success. There are legacy auto manufacturers that could prosper or get destroyed in this transition. There are some exciting new EV company opportunities in China. And then there is Tesla.</p>\n<p>This EV roadmap is intended to help investors explore different roads to investment by explaining the basic strategies for these EV companies. These roads can have different opportunities and risks, and the roadmap helps to frame these. Above all, valuation is an overriding risk that is highlighted throughout this article.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>New Electric Vehicle Investment Roadmap</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\">\nNew Electric Vehicle Investment Roadmap\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-19 14:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4414977-new-electric-vehicle-investment-roadmap><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nIt's almost a foregone conclusion that EVs will replace ICE vehicles in the next decade, and this provides exciting investment opportunities.\nLast October, I wrote a popular article providing...</p>\n\n<a href=\"https://seekingalpha.com/article/4414977-new-electric-vehicle-investment-roadmap\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"FSR":"菲斯克","WKHS":"Workhorse Group, Inc.","XPEV":"小鹏汽车","HYLN":"Hyliion Holdings Corp.","GP":"GreenPower Motor Company Inc.","NKLA":"Nikola Corporation","TSLA":"特斯拉","002594":"比亚迪","GOEV":"Canoo Inc.","01211":"比亚迪股份","GM":"通用汽车","LI":"理想汽车","F":"福特汽车","NIO":"蔚来"},"source_url":"https://seekingalpha.com/article/4414977-new-electric-vehicle-investment-roadmap","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1196402560","content_text":"Summary\n\nIt's almost a foregone conclusion that EVs will replace ICE vehicles in the next decade, and this provides exciting investment opportunities.\nLast October, I wrote a popular article providing a roadmap for investing in electric vehicles, but since then, so much has changed: new entrants, new strategies, fluctuating valuations, etc.\nSo, I updated and greatly expanded the previous EV investment roadmap.\nThis update includes a deeper look at valuations for 23 EV companies with revenue projections, when available.\nIt also classifies these EV companies into their primary market categories and summarizes their different strategies.\n\nPhoto by Sven Loeffler/iStock via Getty Images\nMy article Electric Vehicle Investment Roadmap published five months ago, was popular, and some followers have requested an update. Many new EV companies entered the market, most of them through SPACs. Valuations fluctuated wildly, and there has been a great deal of publicity around these companies.\nThis new updated EV investment roadmap is greatly expanded. In addition to updating the strategies and progress of companies previously discussed, I expanded the number of companies covered. This article also groups EV companies into their primary markets, enabling better comparisons and evaluation of market opportunities. In addition, it includes a comparative valuation chart showing every company's market cap with a comparison to projected revenue, where possible. This takes advantage (good or bad) of looking at the long-term revenue forecasts provided in SPAC mergers that public companies can't make.\nIn addition to the EV manufacturers discussed here, there are also EV investment opportunities in charging station companies, battery manufacturers, and battery materials companies. These were covered in the original roadmap and may also be updated in a later article.\nApproximately 2 million EVs were sold in 2019, and although the number declined along with all auto sales in 2020, it is forecasted to increase in 2021 and reach 8-10 million by 2025. Some forecast that EV sales will be greater than internal combustion engine (ICE) vehicles by 2030, or even earlier. The automobile market appears to be moving toward a historical transformation, and exceptional investment gains can be made by anticipating new emerging industries and investing in the eventual winners of those new industries. Amazon(NASDAQ:AMZN), Google(NASDAQ:GOOG)(NASDAQ:GOOGL), and Facebook(NASDAQ:FB)are obvious examples. Electric vehicles (EVs) have the potential to create a new emerging industry.\nThere are also significant risks. Hundreds of new EV models are expected to be released in the next three years, which will drive rapid growth in EV sales. However, the expected sales from these new models, as well as the increasing expectations from Tesla, most likely exceed the total projected market. I wouldn't be surprised if many of the companies covered here won't exist five years from now. It reminds me of the internet bubble of the late 1990s when scores of internet-based companies went public with little or no revenue. Almost all of these failed within three years -- however, a couple, including Amazon, went on to enormous success.\nEVs provide a major new investment opportunity with high risks. To succeed, you need to have a clear EV investment roadmap.\nSo, how can you invest in this new emerging market? The EV landscape is complex and investment opportunities are varied. While Tesla is the unquestioned leader in EVs, some consider it overvalued and unlikely to show exceptional returns to new investors. The current U.S. legacy automakers are committed to introducing many new EVs in the next few years, and they have some entrenched advantages with volume manufacturing capabilities, a dealer infrastructure, and loyal customers. There are exciting new EV start-ups in the U.S. that have come public this year, mostly through Special Purpose Acquisition Companies (SPACs), and there are several interesting publicly traded Chinese EV manufacturers.\nThis new roadmap for EV investment classifies companies into three primary markets segments:\n\nTheConsumer Retailsegment includes EVs sold to consumers individually, such as SUVs, pickup trucks, sedans, etc.\nTheCommercial Deliverysegment includes local delivery EV vans and trucks sold to fleets.\nTheMedium- and Long-Haul Truckingsegment includes heavier Class 4 - Class 8 trucks, as well as special industrial vehicles.\n\nIn addition, it categorizesLegacy ManufacturersandChinese EV Companies. This enables investors to evaluate investment opportunities by considering unique opportunities within each market segment.\nThere is an enormous amount of investment optimism for EVs, and retail investors have been aggressively buying into EV stocks with seemingly no regard for valuation. Then there is the additional challenge of valuing companies with no revenue, especially those coming public through SPACs. So, valuation is an important investment consideration.\nSo let's start by looking at an overview of comparative EV valuations.\nEV Investment Valuation Overview\nThe following chart summarizes valuations for 23 EV companies, including several legacy companies. For SPACs, market cap estimates are computed using the pro forma number of shares at closing, otherwise using the valuation of the SPAC prior to closing drastically underestimates the valuation, which may be misleading to novice investors. Price/Sales ratios (market cap divided by revenue) are used to compare valuations. As a benchmark, current P/S ratios vary. For example, auto and truck companies have a ratio of 2.7X. Software companies have the highest ratios of over 10X.\nIn the chart, companies that currently have revenue show current P/S ratios. Where projections are available, projected P/S ratios are computed. A note of caution, however. Many of the EV companies came public through SPACs and published their projections (which public companies cannot do), and many of these are likely to prove unrealistic.\nAll of the longer-term revenue projections come from the company (C) forecasts with a SPAC. Some of these may turn out to be accurate, not many are most likely unrealistic. Some, like Lucid, Faraday, and Arrival forecast hitting more than $10 billion in revenue in a few years, when it took Tesla more than 10. Things are different now and they might achieve these, but they could also find that it will take longer to complete development, ramp up production, and create enough customer demand. Many companies may also find that there will be significant capital requirements to achieve this type of growth, and shareholders will be diluted.\n\nTesla, the \"gold standard\" in EVs, has a market cap of approximately $650 billion, which many people believe is overvalued. Its market cap is approximately 20X 2020 revenue and 10X estimated 2022 revenue.\nTesla (TSLA)\nIn the U.S., and to a lesser extent in China, Tesla is the dominant EV provider. It has approximately 60% of the U.S. EV market and about 20% of the market in China. I own a Tesla and love it, but an investment in Tesla stock requires getting comfortable with its valuation. Tesla has a market cap of approximately $650 billion, although declining lately, which some consider still overvalued while others see upside potential.\nThe investment opportunity with Tesla is based on the expectation that it will continue to dominate the EV market, or at least maintain significant market share, despite much greater competition from the expected introduction of hundreds of new EV models in the next few years.\nThere is a great deal already published about Tesla, so I'll move on.\nLegacy Automakers\nSome people think that the legacy automakers will simply fade away. Historically, that was the case in some other industries, but it is not going to happen to most automakers. They are not standing still waiting to become obsolete. Most have aggressive strategies to replace ICE vehicles with EVs. GM plans to invest $27 billion and build and launch as many as 30 new EV models by 2025. Ford plans to invest $29 billion in EVs by 2025 and launch as many as 16 EVs in the next two years. Volkswagen(OTCPK:VWAGY)has also committed billions to develop new EVs.\nThe competitive advantage that legacy automakers have in selling their new EVs is their dealer network. Will new EV customers prefer to continue going to their regular auto dealer to buy their new EV?\nAlmost all legacy automakers worldwide are developing and launching EVs including Volkswagen, Peugeot, Renault/Nissan/Mitsubishi, Hyundai/Kia. Let's look a little more closely at GM and Ford as the leaders in the U.S.\nGeneral Motors (GM)\nGM has committed to introducing 20 new electric vehicles by 2023, including EVs across Chevrolet, Cadillac, GMC, and Buick. It recently announced that it has already sold out the first-year production of its Hummer electric pickup. By mid-decade, it expects to sell a million EVs per year in its two largest markets: North America and China. As a reference point, Tesla reported deliveries of 367,500 vehicles globally in 2019.\nGM has a solid platform strategy for its EVs. It plans on building its EVs using five interchangeable drive units and three different motors from its Ultium Drive System platform. Ultium energy options range from 50 to 200 kWh, which could enable an estimated range of up to 400 miles. Most of its EVs will have 400-volt battery packs and up to 200 kW fast-charging capability while the truck platform will have 800-volt battery packs and 350 kW fast-charging capabilities.\nThe key building blocks of the Ultium battery system are large-scale, high-energy cells. Engineered in partnership with LG Energy Solutions, they use both advanced chemistry and a smart cell design that's optimized for a broad portfolio of EVs. GM engineers and scientists are actively researching and testing new elements in battery chemistry to lower costs and improve charge times. Ultium can contain either vertically- or horizontally-stacked cells to integrate into vehicle design: vertically for trucks, SUVs, and crossovers, or horizontally for cars and performance vehicles. As new chemistry is developed and becomes available, the battery management system could digitally update the modules.\nGM also has other EV opportunities with its BrightDrop commercial EV service and its Cruise subsidiary. BrightDrop will not just sell delivery EVs, it will provide an entire service platform for commercial delivery customers. Its set of electric delivery vehicles starts with the EV600 and includes the BrightDrop EP1, a pod-like electric pallet. SeeGeneral Motors' Aggressive EV/AV Strategies May Payoff Big.\nWith its highest stock price of $61.65, GM's current market cap is approximately $89 billion, increasing primarily because of its progress with EVs. This approximately 3X valuation in 2018, but still only 13% of Tesla.\nFord (F)\nFord is also investing heavily in EVs. It just introduced the Mustang Mach-E, a battery-powered crossover with sports car styling, and plans to introduce an all-electric version of its best-selling F-150 pickup later this year. Also, planned is an electric edition of the full-size Transit van, which has been popular in the commercial delivery market. Ford has confirmed plans to build a luxury Lincoln crossover on a battery-powered platform provided by Rivian. The automaker also plans to introduce two new midsize electric crossovers, one each for the Ford and Lincoln brands by 2023.\nMustang Mach-E. Source: Ford\nFord's market cap is approximately $51 billion, twice its previous market cap, and also increasing.\nConsumer Retail EV Companies\nThe consumer retail market has some unique characteristics for new EV companies. Sales are made individually, not in fleets. This diversifies the risk upon launch because only a sufficient number of customers need to be attracted to the new EV. A wave of popularity can provide terrific momentum.\nHowever, the lack of a dealer network can be an impediment. Selling EVs directly to consumers instead of through dealers is prohibited in most states. By law, auto manufacturers can't compete with franchised dealers. These are laws that go back many decades to protect dealers. This can be a major impediment for new companies without established independent dealer franchises. So, new AV companies. like Tesla, need to sell their vehicles online. Tesla has successfully done this, but it took a lot of work and time. Lack of a dealer network also creates impediments in service.\nIn addition, over the next 4-5 years, autonomous capabilities will be increasingly important to luxury vehicles. This may prove to be a challenge to start-up EV companies because they can't afford to develop this technology.\nLet's look closer at the alternative consumer retail EV investments.\nLucid Motors (CCIV)\nLucid was founded in 2007 under the name Atieva and originally focused on building electric vehicle batteries and powertrains for other vehicle manufacturers. The company rebranded itself as Lucid Motors in October 2016 and shifted its strategy to develop an all-electric, high-performance, luxury vehicle. Shortly after that, it encountered financial difficulties and struggled to get short-term funding. In 2018 it raised more than $1 billion in investment, primarily from Saudi Arabia's Sovereign Fund, and gave up a majority of the company.\nLucid Motors reached an agreement to become a publicly-traded company through a merger with the SPAC Churchill Capital IV Corp., in one of the largest deals SPAC EV deals. The combined company, in which Saudi Arabia's Sovereign Fund will continue to be the largest shareholder, had a transaction equity value of $11.75 billion (for $10/share). At the same time, it closed a PIPE investment priced at $15 a share, giving it an implied pro forma equity value of $24 billion. Rumors about this deal circulated before the transaction was formally announced, making it one of the most anticipated SPAC deals. The hype and speculation drove up the stock price of Churchill Capital IV Corp. from its opening price of $10 a share to almost $60. I believe that some of this may have been driven by novice SPAC investors who didn't realize that the valuation of CCIV didn't include the eventual valuation of Lucid. The share price dropped more than 30% after the details of the deal were announced. It's also likely that Lucid renegotiated the terms of the merger based on the price jump.\nThe company's first product is the Lucid Air, a well-equipped luxury electric vehicle that features 406 miles of projected range and 480 horsepower with a starting price of $77,400, or $69,900 after the U.S. Federal Tax Credit of $7,500. This new Lucid Air model is positioned as a high-performance, ultra-efficient luxury EV sedan in a line of future vehicles that are expected to include Lucid Air Touring, Grand Touring, and Dream Edition versions.\nThe company plans to begin production and deliveries of the Lucid Air in North America in the second half of 2021. Previously the company aimed to begin deliveries earlier in 2021. It intends to sell the car in Europe in 2022, followed by China in 2023. Lucid vehicles will be produced at its new factory in Casa Grande, Arizona. The company plans to expand the factory in phases in the coming years to have the capacity to produce 365,000 units per year at scale. The initial phase of the $700 million factory construction was completed late last year and will have the capacity to produce 30,000 vehicles a year.\nLucid also apparently has a commitment to build an assembly plant in Saudi Arabia, which was rumored to be a condition of the $1 billion investment from the Saudi public fund. The Saudi Sovereign Wealth Fund also provided $600 million in bridge financing and invested in the SPAC deal as well. So, while this assembly plant may be expensive and may not be critical, it will most likely need to happen.\nLucid has ambitious plans to achieve $14 billion in revenue in 2025, and its current stock price at $29.17, which gives it a market cap of more than $46 billion, may already reflect those ambitions. Its market cap is roughly the same as Ford.\nFisker (FSR)\nFisker, which had its origins with Fisker Automotive, is an interesting story that ended in bankruptcy. Henrik Fisker originally co-founded Fisker Automotive in 2007. He was responsible for designing many premium cars such as the Aston Martin. Subsequently, Fisker Automotive had to deal with a Tesla lawsuit against Fisker Automotive alleging it stole Tesla's technology, a controversial $528.7 million conditional loan from the Department of Energy, a recall of its battery produced by A123, and the loss of several hundred vehicles in hurricane Sandy. Henrik Fisker resigned in March 2013 because of disagreements over business strategy and in November 2013, Fisker filed its Chapter 11 bankruptcy case.\nHowever, Henrik Fisker retained the Fisker brand and trademarks, and in 2016 he started another electric vehicle company named Fisker Inc. with the Fisker brand and trademarks. In 2019, Fisker shifted from developing a sports car with a solid-state battery to the Ocean SUV featuring a lithium-ion battery, which it later abandoned for a solid-state battery.\nFisker is positioning itself in a unique segment for those who want the most environmentally friendly EV. While this may be an early growth segment for EVs, it's difficult to estimate its eventual competitive advantage and the size of this environmentally-friendly market segment.\nThe Ocean is a crossover made of recycled metal and plastic with an expected base price of $37,499, and an expected lease of less than $400 a month. Fisker's plan is essentially a lease-only business model that lets customers keep a vehicle for years or return it at any time. It aims to source motors, batteries, and other components from technical partnerships with automakers and will outsource production from existing auto plants. Fisker is currently taking reservations at $250 for the Ocean. It also announced an agreement with Foxconn to jointly develop a vehicle pioneering a new market segment to be sold globally under the Fisker brand commencing in Q4 2023. at the end of 2022. Production will start at Magna Steyr's manufacturing facilities in Europe. At the end of February 2021, it had 12,467 cancellable reservations.\nFisker Ocean. Source: Fisker\nFisker went public using a SPAC (Spartan Energy). The original combination with SPAQ in October 2020 was valued at $2.9 billion with a cash investment of approximately $1 billion. The stock currently trades at approximately $21 per share, after reaching a high of $28.50, from the original price of $10, which is a market cap of $4.6 billion. Fisker projects $3.3 billion in revenue in 2023. It had almost $1 billion in cash at the end of 2020 and expected to use almost half of this in 2021: $250 million on operating expenses and $250 million in capital investments. If the Ocean is delayed into 2023, Fisker risks missing its revenue objective and will potentially need additional cash to complete development and launch.\nFaraday Future (PSAC)\nFaraday Future was originally established in May 2014 by Chinese businessman Jia Yueting. It is headquartered in Los Angeles and has offices in Silicon Valley, Beijing, Shanghai, and Chengdu. Faraday Future also had a turbulent history. In 2016, it struggled financially, and in 2017 some key executives departed over a dispute about financial issues. They later founded Canoo.\nIn December 2018 the company announced layoffs due to a cash crunch and financial troubles. The company's founder Jia Yueting filed for personal bankruptcy in the United States' federal court in Delaware on October 14, 2019. Following Jia's personal bankruptcy, he decided to step down from his role as CEO of Faraday Future in order to assume a new position as the Chief Product and User Officer. He was replaced as CEO by Carsten Breitfeld, the former CEO at rival electric vehicle startup Byton.\nSomehow, Faraday was able to raise $2.3 billion in private funding over 5 rounds from a variety of investors. In early 2018, it received $1.5 billion in funding from an undisclosed investor from Hong Kong.\nFaraday's flagship product offering will be the FF 91, featuring 1,050 HP, 0-60 mph in less than 2.4 seconds, zero gravity seats with the largest 60-degree reclining angles, and a user experience designed to create a mobile, connected, and luxurious living space. The FF 91 is targeted to launch in 2022.\nFF 91. Source: Faraday Future\nIts strategic partners include one of China's top three OEMs and a critical Chinese city, which the company believes will help establish its presence in the Chinese vehicle market.\nFaraday Future plans several cars based on its Variable Platform Architecture. FF 91 is the first production vehicle and flagship model. Pricing will range between $120,000 and upwards of $200,000, which places it against formidable opponents. Faraday Future is already looking forward to expanding its range with a pair of smaller models named FF 81 and FF 71. The FF 81 is planned to be priced at $75,000 to 95,000 with a 2023 release. The FF 71 is planned to be priced at $45,000 to $65,000 with a planned release of 2024.\nThe Primary Manufacturing Facility for FF 91 is in Hanford, CA with contract manufacturing for future models in Gunsan, South Korea.\nFaraday Future is planning high-Level automation with a Level-3 capable system using a redundant safety architecture based on NVIDIA Xavier System-on-a-chip. It will be capable of highway auto-drive and hardware ready for advanced auto-drive. It is targeting full autonomous valet parking & summon in any parking lot or structure. Eventually, it expects full auto-drive, including full 360˚ sensor coverage for advanced auto-drive & auto-park features.\nIn January 2021, Faraday Future announced that the company would go public through a reverse merger with the special purpose acquisition company Property Solutions Acquisition Corp. (PSAC). The combined company will be valued at $3.4 billion. Faraday Future is expected to set up contract manufacturing operations in China through their partnership with Geely. Taiwanese manufacturer Foxconn is also expected to serve as an additional strategic partner.\nFaraday Future projects $10.5 billion in revenue in 2024 and $21.5 billion in 2025. Revenue is expected to start in 2022 with the delivery of 2,400 vehicles for $504 million. Most likely these projections could prove to be optimistic. At a current stock price of approximately $12.80, it has a market cap of about $4.3 billion.\nLordstown Motors (RIDE)\nLordstown Motors based in Lordstown, Ohio, was originally founded in 2018 by Steve Burns, the former CEO of Workhorse Group. The company licensed technology from Workhorse in return for royalties and a 10% ownership. Lordstown is named after the famous GM Lordstown manufacturing plant, which it acquired in November 2019 in an unusual transaction. GM announced that it was closing the plant and was under a great deal of pressure for that decision. So, GM \"sold\" the plant to a company that was renamed Lordstown for an estimated $20 million that it loaned to the acquiring company. Subsequently, the sale was redefined to be part of a $75 million investment by GM, of which $50 million was an in-kind exchange for the plant.\nLordstown went public through the SPAC DiamondPeak Holdings Corp. in 2020. It currently has more than 400 employees.\nIts first product is the Lordstown Endurance, a full-sized EV pickup truck. Lordstown is positioning Endurance for the pickup fleet market segment. The expected price is $52,000+, and it claimed to have more than 100,000 pre-orders by January 2021. However, a recent research article published by a short seller claimed \"Our research has revealed that Lordstown's order book consists of fake or entirely non-binding orders, from customers that generally do not even have fleets of vehicles.\" Lordstown is disputing that article.\nIt believes the fleet pickup market segment is underserved with no current EV-focused competition. It estimates that the full-sized pick-up truck fleet market is 1.2 million vehicles per year in the U.S., but it's more fragmented than other truck fleets. Pickup \"fleets\" tend to be much smaller and local, so there may not be much of a market distinction for a small company buying several EV pickups from a traditional auto dealer. About half of the total U.S. pickup market is classified as fleet sales, meaning more than one.\nEven though Lordstown is targeting the commercial fleet market, it is a similar product to the Ford EV F-150. So I classify it in the consumer EV category. It is a class 2 vehicle. Lordstown also may enter the SUV market in the longer-term.\nThe Endurance will compete against future models from Rivian and Tesla, as well as Ford and GM in ICE pick-ups and their upcoming EV pick-ups. Ford plans on selling its EV F-150 in mid-2022. Initial production of the Endurance is expected in the second half of 2021, so it may have a short market advantage. Nevertheless, it forecasts selling 65,000 vehicles in 2023 and 107,000 in 2024. These estimates could be a large percentage of the EV pick-up market in those years.\nAt the SPAC merger, the implied valuation for Lordstown was $1.6 billion, including a $500 million PIPE and the $75 million by GM. Lordstown's financial projections appear to be aggressive. It projects to start shipping the Endurance in late 2021 with projected revenue in 2022 of $1.7 billion, increasing to $5.8 billion in 2024. Its stock price at approximately $13.60 values the company at a market cap of approximately $2.2 billion. The value of the company depends on the likelihood of achieving its projections.\nA fleet sales strategy makes sense for Lordstown since it would be too expensive to build a retail sales and service capability. However, it's not clear that this will become a distinct competitive advantage. Some small fleets may still prefer to buy their EV pickups from established local dealers with service capabilities.\nCanoo (GOEV)\nCanoo started as Evelozcity in 2017 and rebranded as Canoo in the spring of 2019. Canoo is a Los Angeles-based company that develops electric vehicles. It has over 350 employees. Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space, which is adaptable to support a wide range of vehicle applications for consumers and businesses. Canoo expects to launch its first consumer model in 2022, simply named the Canoo that will be available by subscription, followed shortly after by a multi-purpose delivery vehicle and a sports vehicle, each built off of the same underlying platform. Canoo went public using a SPAC (Hennessy Capital Acquisition) and now trades as GOEV.\nCanoo's all-electric skateboard-like platform is designed to support both consumer retail and commercial vehicle configurations. The EV leverages Canoo's flat skateboard architecture for a high level of usable interior space. Its commercial vehicle program, expected in 2023, addresses a projected $50B+ last-mile delivery market with an EV platform that maximizes cargo volume.\nHyundai Motor Group said it would jointly develop an electric vehicle platform with the company.\nCanoo's platform strategy is interesting. It could be used as an EV platform for custom fleets of delivery vehicles. It has no AV development, but it claims to be \"AV Ready\" which could be useful for AV companies wanting to build custom AV delivery fleets.\nIts all-electric multi-purpose delivery vehicle is expected to be priced starting at approximately $33,000. It is based on Canoo's proprietary electric platform and will be offered in two initial size variants, with others to follow. Limited availability will begin in 2022, with scaled production and launch planned for 2023. Customers can pre-order the multi-purpose delivery vehicle for a refundable deposit of $100 per vehicle\nIt plans to offer two multi-purpose delivery vehicles: the MPDV1 and the larger MPDV2. The first has a 200-foot cargo volume and a range of 130-200 miles. It offers more capacity than today's ICE delivery vehicles at an affordable price with urban mobility enabled by a space-efficient footprint. The vehicle is also designed to fit within many height-restricted areas like parking garages.\nThe MPDV2 has a cargo volume of 450 feet and a range of 90-190 miles. Its roof and step-in height enable individuals to easily walk-in the vehicle and accommodate a standing position while inside.\nThe original SPAC transaction provided approximately $600 million, with a pro forma equity value of approximately $2.4 billion. Like other SPAC mergers, its stock price has fluctuated. It currently trades at about $15.90 per share for a market cap of approximately $3.7 billion. Canoo projects $2.0 billion in revenue in 2025 from about $500 million in engineering services, $1.2 billion from its consumer vehicle subscriptions, and the remainder from its commercial program. Canoo expects revenue of more than $300 million in 2022 after the launch of its lifestyle consumer vehicle.\nSince its first products are aimed at consumers, as is most of its forecasted 2025 revenue, I categorize it primarily as a consumer EV company. However, I think the design of that Canoo vehicle may not attract enough customers. More importantly, its subscription service way of selling its EV to consumers is risky. I think it has more potential in the commercial market, however, a dual strategy (consumer and commercial) is challenging. I like its skateboard platform design and that could prove to be a competitive advantage.\nRivian\nAlthough not yet public, I include Rivian because it has plans for an IPO as soon as Sept 2021, although it could slip into 2022. There are rumors that the company is targeting a market valuation of approximately $50B. Rivian has already raised more than $8 billion to date from Amazon, Ford, T. Rowe Price, and others.\nRivian has developed and vertically integrated a connected electric platform that can be flexibly applied to a range of applications, including the company's adventure products, as well as B2B products such as the Amazon last-mile delivery vans. The company's initial products, the R1T and R1S, provide a combination of performance, off-road capability, and utility. These vehicles will be produced at Rivian's manufacturing plant in Normal, Ill., with customer deliveries expected to begin in summer 2021. The launch of the R1S three-row electric SUV will follow in August.\nAdditional lower-priced models are being planned. The expected R2 series would include at least two smaller electric vehicles to coincide with the smaller platform, then another platform for R3.\nCommercial Delivery EV Companies\nEV truck companies differ based on the type of truck they are developing. The technology and markets are very different, so I separate them into two categories. The first category includes commercial delivery vehicles.\nCompanies making EV delivery vehicles have some major advantages that could make them good investments. First, delivery vehicles typically travel less than 250 miles during a day, so they can be conveniently recharged overnight. Secondly, they are typically sold in large quantities to fleets. This means that building a retail sales infrastructure is not necessary. It only requires a small salesforce. In addition, maintenance can also be provided at the fleet's operational center, so not as many service centers are required.\nThe disadvantage in this market is that there are a relatively small number of customers that buy in large volumes, so if the EV manufacturer can't get enough large customers, they may not be able to stay in business. GM estimates the combined market opportunity for parcel and food delivery, as well as reverse logistics, in the U.S. will be more than $850 billion by 2025.\nThe commercial market is expected to be a major growth area for EVs. Other start-up automakers like Rivian as well as legacy automakers such as Ford, Daimler, and GM have announced plans to enter the segment. GM recently announced its BrightDrop ecosystem for commercial customers that includes an all-new electric delivery van, the EV600 available by the end of 2021, as well as an integrated autonomous pallet and related services.\nThis group of EV companies focuses primarily on commercial delivery. In general, these are in the light-duty trucks category, although it also includes some medium-duty trucks. This generally includes the following commercial truck classes:\n\nClass 1: This class of trucks has a GVWR of 0-6,000 pounds or 0-2,722 kilograms.\nClass 2: This class of trucks has a GVWR of 6,001-10,000 pounds or 2,722-4,536 kilograms.1\nClass 3: This class of trucks has a GVWR of 10,001-14,000 pounds or 4,536-6,350 kilograms.\n\nIt can also include somewhat larger medium-duty EV delivery trucks:\n\nClass 4: This class of trucks has a GVWR of 14,001-16,000 pounds or 6,351-7,257 kilograms.\nClass 5: This class of trucks has a GVWR of 16,001-19,500 pounds or 7,258-8,845 kilograms.\n\nEV delivery trucks also have an advantage over ICE vehicles because they can have a greater delivery storage space. Smaller buses and transit vehicles are also included in this category.\nLast-mile package delivery is not an immediate-term autonomous vehicle opportunity because it requires a delivery person to be on the truck anyway.\nWorkhorse Group (WKHS)\nWorkhorse has been a public company for ten years. Originally AMP Electric Vehicles, it was established in 2007 as a developmental-stage vehicle electrification company, focusing on conversions. AMP Electric Vehicles went public in 2010 trading on the OTC market under the AMPD symbol. When the economic benefits of conversion became less certain, it pivoted away from passenger vehicles and began to focus on electrifying commercial vehicles. AMP acquired the Workhorse brand and the Workhorse custom chassis assembly plant in Union City. In March of 2013, AMP formally changed its name to Workhorse Group Incorporated.\nThe Company designs and builds a last-mile delivery electric vehicle. The C-Series EVs cover the larger size of commercial delivery vehicles in Classes 3-5. As part of its solutions, it also develops cloud-based, real-time telematics performance monitoring systems. It sells its vehicles to fleet customers directly and through its primary distributor, Ryder Systems. It is currently focused on bringing the C-Series electric delivery truck to market and fulfilling the existing backlog of orders.\nThe C-Series looks like a viable EV replacement for the 350,000 last-mile delivery vehicles sold in the U.S. annually. It recently announced an increased driving range from 100 miles to 160, which should open more market opportunities. It has a viable short-term go-to-market strategy selling fleets to delivery companies. It currently has test vehicles with UPS, DHL, FedEx, Amazon, and Walmart.\nWorkhorse recently lost out on the United States Postal Services Next Generation Delivery Vehicle project, however, it is in the process of challenging this decision. Additionally, its investment in Lordstown also provides an indirect investment opportunity. On November 7, 2019, the Company entered a transaction with Lordstown Motors to grant LMC a perpetual and worldwide license to certain intellectual property relating to its W-15 electric pickup truck platform and related technology in exchange for royalties, equity interest (approximately 10%) in LMC, and other considerations. This was a $320 million asset for Workhorse at the end of 2020.\nWorkhorse received a significant increase in orders in Q4/2020 but built just seven trucks in the fourth quarter due to production systems and supply chain issues. Workhorse plans to continue to take it slow, striving to build three of its composite-body battery-electric trucks a day in March with a plan to reach 10 trucks a day by the end of June. This makes its original 2021 goal of producing 1,800 trucks unlikely. It partnered with Hitachi and Hitachi Capital America (\"HCA\") to improve the Company's manufacturing, operational, and supply chain capabilities as well as to develop a national dealer network to support Workhorse's sales with vehicle financing options for both dealers and customers.\nWorkhorse has a market cap of approximately $1.9 billion. While Workhorse had ongoing revenue, unlike many other new EV companies, its revenue is still insignificant. It had a revenue of $1.4 million in 2020 and $377,000 in 2019. It has a backlog of over 8,000 vehicles but doesn't expect to be able to build many of those in 2021. It raised $270 million in capital over several financings, providing the Company with additional capital to build its backlog. It had cash of $215 million as of March 1, 2021. Because Workhorse is a traditional public company, it hasn't made long-term financial projections like SPAC-based companies.\nElectric Last Mile (FIII)\nElectric Last Mile, based in Troy Michigan, was founded by Jason Luo, former CEO of Ford China before it was acquired by China's Ningbo Joyson Electronic for $920 million in 2016, including James Taylor, former CEO of GM's Hummer brand and former CEO of electric car maker Karma Automotive. Taylor serves as the company's top executive with Luo as the company's chairman.\nThe company plans to launch a small electric delivery van (class 1-2), called the UD-1, in the third quarter of 2021, and then introduce an Urban Utility vehicle (Class 2-3) in 2022. These are expected to compete with Workhorse, Rivian, Canoo, as well as the Ford eTransit and the GMC BV1, none of which is expected to be a Class 1 vehicle.\nThe company says it has 30,000 preorders for its van, representing more than $1 billion in sales. Electric Last Miles vehicles will be based on Sokon's commercial van made in China through a joint venture with Dongfeng Automobile Co Ltd. in order to accelerate development time.\nElectric Last Mile (ELM) is expected to manufacture the vans in a former General Motors Co. Hummer plant in Mishawaka, Ind., that the company is acquiring from China's Chongqing Sokon Industry Group Stock Co. Ltd. The plant has the capacity to produce 100,000 vehicles annually with plans to build approximately 4,000 UD-1 vans by the end of 2021. The UD-1 has a starting price of $32,500 and a range of 150 miles. The battery for the vehicle is expected to be supplied by the Chinese battery company CATL.\nELM believes that it has a competitive advantage because its first vehicle, the ELM Urban Delivery, is scheduled to be available in 2021. It is based on a proven, existing platform developed and sold by Sokon Group in the Asian market, where there are 30,000 of these electric delivery vehicles driving 1.5 million miles every day. At the close of the business combination, ELM will be an independent, U.S. company producing electric vehicles in the U.S. with Sokon Group providing access to its know-how, parts supply, and field and service data.\nELM expects that the Urban Delivery vehicle will be the first electric delivery vehicle coming to market in the class 1 category (GVW of 6,000 lbs or less) in the U.S. It will also have 35% more carrying volume compared to similar ICE delivery vehicles, a critical part of the value proposition. It also anticipates that its price and greater carrying volume will allow it to take market share from the class 2 category of vehicles as well.\nIts crossover product portfolio strategy targets commercial delivery vehicles spanning from class 1 to class 3, which represents over 80% of the last mile market.\nELM anticipates $122 million in revenue in 2021, rapidly increasing to $3 billion in 2025. The price of FIII stock increased immediately following its announcement with Electric Last Mile, rising more than 40% to $14.50, but now it has dropped closer to the original deal price to $10.25 for a market cap of approximately $1.5 billion.\nGreenPower Motor Company (GP)\nGreenPower Motor Company Inc. is a Canadian battery-electric bus manufacturer with multiple models of high- and low-floor vehicles, including transit buses, school buses, and shuttles. GreenPower offers commercial vehicles for delivery, public transit, schools, vanpooling, micro-transit, shuttles, and is developing a capability of autonomous operation. It went public on August 28, 2020.\nIn 2014 GreenPower launched its first purpose-built, battery-electric bus, the EV350, 40-foot transit bus. GreenPower received its first order in 2017 for ten EV350s from the City of Porterville, California.\nGreenPower's electric buses are purpose-built and designed to be all-electric, allowing it to put the battery and propulsion system in optimized locations that provide weight and structural advantages. Its primary EV is the EV Star with more than 120 vehicles delivered. It comes in several variations:\n\nEV Star - Up to 19 passengers\nEV Star Plus - Up to 24 passengers\nEV Star ADA - Passenger and curbside lift for ADA\nEV Star Cargo - 5,000 pounds of load\nEV Star Cargo Plus - 570 cubic feet of cargo space.\n\nIts EV school bus seats up to 90 students and has a range of up to 150 miles.\nGreenPower had revenue of $13.5 million in 2020 It has about $21 million in cash. It's an interesting alternative since it is already shipping EVs, has revenue, and also has a lower market cap of less than $1 billion. Since it did a traditional IPO, it hasn't published longer-term financial forecasts.\nArrival (CIIC)\nArrival was founded in 2015 in London to make a variety of commercial electric vehicles. It has approximately 1,200 employees across 11 cities in 8 countries. In November 2020, Arrival and the SPAC CIIG entered into a business combination agreement with an implied valuation of $5.39 billion.\nArrival plans on releasing four commercial EVs over the next few years.\n\nQ4/2021: An electric bus for 8-125 passengers and a range of 240-400km\nQ3/2022: An electric delivery van with a payload of 975-2,000kg and a range of 150-340km\n2022: A larger electric van with a payload of 4,000 kg and a range of 190-400km\n2023: a small vehicle platform with a range of 100-300km.\n\nThis mix provides a nice diversified portfolio of EVs. Arrival claims to have received orders from UPS for 10,000 vans. It plans a unique flexible manufacturing approach using micro-factories with each projected to manufacture 10,000 vans per year. All of its vehicles use a modular skateboard electric platform.\nArrival ambitiously projects $14.1 billion in revenue in 2024. Half of that revenue is expected from delivery vans, 22% from buses, and the rest from the large van and its small vehicle platform. With CIIC's stock price at $24.80 per share, Arrival's current market cap is relatively high at approximately $15.0 billion. Justifying its market cap depends on its ability to release, sell, and produce its four commercial EVs.\nProterra (ACTC)\nProterra is a commercial electric vehicle company with over a decade of production experience. The Company has designed an end-to-end, flexible technology platform that claims to deliver higher performance and a low total cost of ownership to original equipment manufacturers (OEMs) and end customers.\nProterra, Inc., was originally founded in Golden, Colorado, by Dale Hill in 2004. Later the company wanted to take the lead in creating zero-emission, U.S.-based transit buses. In 2010 it moved its manufacturing plant from Golden, Colorado to Greenville, South Carolina. In 2015, Proterra was awarded a $3 million grant from the California Energy Commission to fund the design, development, and construction of the company's battery-electric transit bus manufacturing line in the City of Industry, California. It moved its headquarters from Greenville, South Carolina, to Burlingame, California, in October 2015. Proterra raised more than $600 million in funding.\nIt is going public through the SPAC ArcLight (ACTC) with a pro forma valuation of $1.6 billion. Upon completion of the transaction, Proterra expects to have up to $825 million in cash to fund growth initiatives, including R&D and the expansion of its next-generation battery program.\nProterra has three complementary businesses:\n\nProterra Powered: Delivering battery systems and electrification solutions to commercial vehicle manufacturers\nProterra Transit:Providing an electric transit bus OEMs\nProterra Energy:Offering turnkey charging and energy management solutions.\n\nThe company's battery systems have been proven in more than 16 million service miles driven by its fleet of transit vehicles and validated through partnerships with commercial vehicle OEMs. Proterra has produced and delivered more than 300 megawatt-hours of battery systems, more than 550 heavy-duty electric transit buses, and installed 54 megawatts of charging systems.\nProterra expected $193 million of revenue in 2020, with an estimated $750 million in existing orders and backlog. It projects $2.5 billion in revenue in 2025, with about 1/3 coming from its Transit business, and 2/3 From Powered & Energy. At ACTC's current stock price of $17.85, Proterra has a market cap of about $4.3 billion.\nRivian\nRivian (see earlier description in consumer retail) will also compete in the commercial delivery market. It has been working with Amazon (a major investor) to build large electric delivery vans for Prime. Developed specifically for Amazon, a small fleet of Prime vans is on the road now, testing deliveries to customers and gathering feedback. In late fall, it could grow to a large fleet as Rivian ramps up the volume.\nThe EV range of 150 miles is tailored to Amazon's use cycle to optimize the size, weight, and cost of the commercial vehicle. Rivian has three sizes of batteries, but Amazon is starting with just one of them.\nCanoo (GOEV)\nSee the previous summary under consumer retail EV.\nMedium and Long-Haul Trucking EV Companies\nCompanies developing medium- and long-haul EV trucks face a more difficult challenge with battery range. These trucks haul much more weight than commercial delivery vehicles and because they are designed for long distances, they can't stop every 200-300 miles for recharging.\nFor this reason, many of these companies are using unique hybrid technologies for their trucks. The EV trucks in this category are primarily heavy-duty but also include some medium-duty trucks and specialty vehicles. A couple of the companies focus on retrofitting trucks to be electric.\nMedium-Duty Trucks\nThe medium-duty trucks category includes commercial truck classes 4, 5, and 6:\n\nClass 4: This class of trucks has a GVWR of 14,001-16,000 pounds or 6,351-7,257 kilograms.\nClass 5: This class of trucks has a GVWR of 16,001-19,500 pounds or 7,258-8,845 kilograms.\nClass 6: This class of trucks has a GVWR of 19,501-26,000 pounds or 8,846-11,793 kilograms.1\n\nHeavy-Duty Trucks\nThe heavy-duty trucks category includes commercial truck classes 7 and 8:\n\nClass 7: This class of trucks has a GVWR of 26,001 to 33,000 pounds or 11,794-14,969 kilograms.\nClass 8: This class of trucks has a GVWR of greater than 33,001 pounds or 14,969 kilograms and includes all tractor-trailers.\n\nThe Tesla Semi is a battery vehicle planned for a range of 300 or 500 miles and a speed of 60 MPH with 80,000 lbs of cargo. Tesla plans to start shipping the Semi later this year when it expects to have sufficient cell volume to meet its needs with the production of its 4680 battery pack.\nNikola(NASDAQ:NKLA)\nNikola has been a very controversial company. Founded in 2015, it originally had two different strategies. Its primary strategy is to lease fuel-cell electric vehicle (FCEV) Class-8 heavy trucks and provide the refueling infrastructure to corporate customers. Its second strategy was to develop the Badger EV truck using GM technology.\nNikola originally merged with a SPAC to go public, at an enterprise value of approximately $3.3 billion. On June 6th, 2020, its market cap jumped to more than $30 billion, then later it dropped because of problems with its originally planned deal with GM.\nNikola originally expected a deal with General Motors that included the production of the Nikola Badger EV pickup truck. The proposed arrangement was that GM would take a $2 billion equity stake in Nikola and in return would engineer and produce the Badger. In November 2020, GM and Nikola scrapped the original arrangement. Now it appears that GM will supply Nikola with only its Hydrotec hydrogen fuel-cell technology to integrate into the EV manufacturer's commercial class 7 and class 8 zero-emission semi-trucks. So, the Badger is probably dead.\nNikola now sees semi-trucks as the company's \"core business\" and fuel cells as an increasingly important segment of the semi-truck market thanks to their efficiency in weight and consumption. It expects to begin testing by the end of 2021.\nIt has received pre-orders from Anheuser-Busch and a few other companies, but it doesn't expect deliveries until 2023. Hydrogen fueling stations are key to its strategy, both providing a source of revenue and necessary fueling infrastructure for the trucks to operate, but they also cost a lot. In its March 2020 investor deck, Nikola said a single station capable of fueling 210 trucks a day would cost $16.6 million. Its initial planned network of 700 stations would cost roughly $11.6 billion.\nNikola was also accused of misrepresentation, and its executive chairman and founder stepped down.\nAt the time of the SPAC merger, it projected an optimistic forecast of more than $3 billion in revenue by 2024, with a net income of $145 million. Most of that revenue was expected to come from its Badger truck, which is no longer in the plans. Yet its market cap is still almost $6 billion.\nHyliion (HYLN)\nHyliion, founded in 2015 in Austin, went public in October 2020 through the SPAC Tortoise Acquisition Corp. (SHLL). In March 2019, automotive parts manufacturer Dana Inc. made an equity investment into Hyliion, and together they are manufacturing and marketing Class 8 EVs to Dana's customers, including Volvo, Navistar, and Peterbilt.\nHyliion's strategy is unique, and a very different strategy from Nikola. Essentially it generates electricity onboard the truck using compressed natural gas (CNG). This should be a benefit for longer-range trucking. Hyliion's Hypertruck concept involves an all-electric drivetrain utilizing Dana's electric motor, inverter, and axle technologies. The truck's batteries are fueled by onboard tanks of CNG. With some 700 CNG stations already operating nationwide, it believes that there no need to build out expensive superchargers or hydrogen infrastructure.\nKuwait-based logistics company, Agility, has already placed an order for 1,000 Hypertrucks with initial deliveries targeted in 2022. Combined with a fully electric drivetrain and a natural gas-powered onboard generator to recharge the battery, the Hypertruck ERX will provide more than 1,000 miles of range.\nHyliion will eventually compete with Nikola (FCEV) and the Tesla battery-based Semi, but it plans to have a longer range and lower operating costs. Its HyperTruck ERX is expected to be available in 2021. It also has a hybrid-electric truck.\nThe combination with SHLL had an estimated market cap of about $1.5 billion, with approximately $530 million going to the company, including a $325 million fully committed PIPE. At approximately $13.50 per share, its current market cap is approximately $2.2 billion, significantly down from its peak. Hyliion projects $2 billion in revenue in 2024, which it claims is only about 2% of the addressable market.\nXL Fleet (XL)\nXL Fleet is a 10-year old company that went public through the SPAC Pivotal. XL is different because it provides fleet electrification modifications for ICE trucks across a wide range of vehicle classes (class 2-5) and types. It has over 200 of the largest commercial and municipal fleets as customers, with more than 3,200 XL systems deployed and over 130 million miles driven by customers to date. XL's customer base includes FedEx, Coca-Cola, PepsiCo, Verizon, the City of Boston, Seattle Fire Department, Yale University, and Harvard University.\nXL's business model is essentially retrofitting existing trucks to be hybrids and then later expanding into fully electric truck conversions. It claims to be creating a fully integrated platform for this. It remains to be seen if the retrofitting business will continue to grow or will it diminish when more trucks are designed and manufactured with EV capabilities.\nUnlike some other EV companies that have no revenue yet because they are still developing products, XL is more of a small company doing low-volume retrofits. It had $7.2 million in revenue in 2019, $21 million in 2020, and estimates $76 million in 2021, but it forecasts $1.3 billion in revenue in 2024 in its investor presentation. It plans to do this by expanding its product line from hybrid to plug-in hybrid to fully electric across a broader range of trucks. It claims to have a $220 million sales pipeline for the next 12 months.\nShort-seller, Muddy Waters, claimed after talking to former XL Fleet employees, that it believed the company significantly exaggerated its order backlog, that the return on investment for the company's products was likely negative, and that it would not be able to compete with big car makers on electrification. The company thoroughly refuted these claims.\nThe original enterprise valuation was approximately $1.4 billion at a $10 share price for the merger. Its price jumped by about 35% but has since gone back down to $12.40 for a market cap of about $1.8 billion. Although XL Fleet has revenue and other EV companies don't, this may not be an advantage. It appears to be a small company for many years that has gone public at a high valuation with grand plans. The risks are in its ability to make a jump from $76 million in 2021 to $1.3 billion in 2024, as well as the question about retrofitting being replaced by new EV trucks by then.\nXos (NGAC)\nXos Trucks specializes in the field of manufacturing fully electric commercial vehicles. It features a software platform that is designed to accommodate an extensive variety of medium-duty bodies, wheelbase, and range requirements up to 200 miles. It was founded in 2016 and headquartered in North Hollywood, California. It received $20 million of investment in 2020 and now is going public through a merger with the SPAC ExtGen Acquisition Corporation (NGAC) at an estimated proforma value of $1.965 billion.\nIts focus is on medium- and heavy-duty last mile and return-to-base segments (class 5/6, class 6/7, and class 7/8) commercial fleets and specialty vehicles. Some vehicles are currently in production and in regular on-road operations with key fleet customers, and it claimed 6,000 unit orders in backlog.\nIts MD-platform is for classes 5-6 for pickup and delivery. Its HD X-Platform is an adaptable chassis for highway, vocational, and severe work conditions. Its market is for customers with highly predictable routes that allow for batteries designed for a more limited range. A significantly larger frame and smaller battery pack allow for reduced density.\nXos has a bundled all-in-one offering that allows fleets to access all the tools and services they need to go electric with a single point of contact at a fixed monthly expense.\nXos had $3 million in revenue in 2020 and estimates $14 million in 2021. However, it forecasts $5.2 billion in revenue in 2025. At the current stock price of $10.30, its market cap is approximately $2 billion, about the same as its original SPAC transaction.\nLion Electric (NGA)\nLion Electric is a Canadian company founded by Marc Bédard in 2008. Its focus is to be a leader in designing, developing, and manufacturing purpose-built urban electric vehicles; vehicles that are specifically designed as delivery trucks, refuse trucks, bucket trucks, moving trucks, school buses, and shuttle buses. It has over 300 all-electric vehicles on the road today.\nIn November 2020, it announced that it was going public through the SPAC NGA. The transaction had an estimated pro forma enterprise value of $1.5 billion.\nIt plans on seven new truck models and one new school bus, for a total of 15 all-electric vehicles, representing a full line-up from class 5 to class 8 electric trucks and a full line-up of electric school buses. Its vehicles are produced at its existing manufacturing plant, which has the capacity for the production of up to 2,500 vehicles per year. It intends to open a new plant in the U.S. capable of delivering over 20,000 Lion trucks and buses per year by 2022.\nIts all-electric class 6 and class 8 commercial urban trucks combine power, comfort, and modern technology. Custom-built chassis and cabin designed specifically for an all-electric heavy-duty vehicle. The LionC is an all-electric Type C school bus manufactured in North America. The body and chassis were specifically designed to deliver optimal performance. The LionM is an all-electric midi/minibus that meets paratransit and public transportation requirements. Created and designed specifically for the paratransit market, the is spacious and offers unique features that provide enhanced security and accessibility to the end-users.\nLion Electric had $29 million in revenue in 2020 and expects $204 million in 2021. It forecasts revenue to jump to $3.6 billion a few years later in 2024. Its current market cap is approximately $3.6 billion based on its current stock price of $18.33.\nLightning eMotors (GIK)\nLightning eMotors, formerly Lightning Systems, was founded in 2008 and is headquartered in Loveland, Colorado. It provides fleet electrification for familiar commercial vehicle platforms by retrofitting them with its electric powertrains. Lightning eMotors produces electric fleet medium- and heavy-duty vehicles, including delivery trucks, shuttle buses, passenger vans, ambulances, bucket trucks, chassis-cab models, and city transit buses. It focuses on urban commercial zero-emission vehicles with a full range of class 3 through class 7 battery-electric and fuel-cell electric vehicles.\nLighting eMotors helps commercial fleets achieve their sustainability goals by offering zero-emission battery-electric vans, trucks, and buses based on familiar, proven vehicles from manufacturers such as Ford and GM. It works with customers, to help them identify their unique commercial electric vehicle, charging, and grant support needs.\nThe Lightning products include integrated all-electric powertrains for the Ford Transit 350HD passenger and cargo vans, Ford E-450 shuttle bus and cutaway models, Ford F-59 step/food van, Ford F-550 cargo trucks and buses, Chevrolet 6500XD Low Cab Forward model, and 30-foot, 35-foot, and 40-foot transit buses.\nLightning has 120 vehicles on the road, and 1,500 vehicles already on order from customers. In addition to making vehicles and powertrains, Lightning also provides a full suite of charging solutions for customers.\nThe deal with GIK has an enterprise value of $650 million, although there is also an Earnout of 20.0% of total pro forma shares outstanding to Lightning eMotors shareholders if the stock crosses certain price thresholds.\nAt the current price, of $11.73, GIK has a market cap of approximately $1 billion, a little more than the original transaction valuation. Similar to XL Fleet, Lightning has the risk that retrofitting may only be an interim business opportunity until more EV trucks are produced.\nPublic Chinese EV Companies\nChina will be the biggest EV market opportunity, and EV start-ups may do better there because there isn't as much entrenched competition from domestic auto companies. China is already the largest EV market in the world, with almost a million EVs sold in 2019. Its EV market represents almost half of the global EV sales volume and is much larger than the U.S. market.\nThe Chinese government has ambitions to become a global leader in new energy vehicles. Soon after the coronavirus outbreak subsided within the country, Chinese authorities announced new policies to support the auto and electric vehicle industries.\nThese Chinese companies are traded through American depository shares (ADS) that contain certain risks. There are financial reporting and transparency risks with these companies, and on top of that, the newer companies are being classified as \"emerging growth\" companies that are already exempt from certain transparency requirements set out in the Sarbanes-Oxley Act of 2002. Like the previous EV stock, these stocks have also been very volatile.\nIn addition to legacy auto manufacturers like BYD, there are also three Chinese EV companies that are publicly traded through American depositary shares.\nBYD Co., Ltd. (OTCPK:BYDDY)\nBYD, which means build your dreams, is the automotive subsidiary of the Chinese multinational BYD Co Ltd. It was founded in January 2003, following BYD Company's acquisition of Tsinchuan Automobile Company. The company produces automobiles, buses, electric bicycles, forklifts, rechargeable batteries, and trucks. The current model range of automobiles includes electric vehicles, plug-in hybrids, and petrol-engined vehicles. Thirteen years ago, on the advice of his famously skeptical lieutenant, Charlie Munger, Warren Buffett made a $232 million investment in BYD, a relatively unknown Chinese car company.\nBy parlaying BYD's rechargeable battery technology into a fast-growing carmaking operation, it gained a foothold in the fledgling electric vehicle market, building longer-lasting batteries and cheaper vehicles than American and Japanese manufacturers were managing to do at the time. In BYD, Buffett and Munger believed they had found a company with a shot at one day becoming the largest player in a global automobile market that was inevitably going electric.\nBYD's start to 2021 was strong with 19,871 plug-in electric cars sold in January in China, including hybrid plug-ins. That was a big increase over 2020 but not as much as 2019.\nLI Auto (LI)\nLixiang, formerly known as Chehejia (\"Car and Home\"), was founded in 2015 and went public in the U.S. on July 30th, 2020. It is a Beijing-based electric-vehicle startup with vertically integrated manufacturing. It designs, researches, manufactures, sells, and offers services featuring a few models of electric vehicles.\nThe company's SUVs are hybrids of a sort. They use electric motors (one on the front axle and one on the rear), but those motors are powered by a combination of a 40.5kWh battery packanda 1.2-liter turbocharged engine paired to a 45-liter fuel tank and a 100kW electric generator, which generates power for the battery pack in real-time. The idea is that the car can be driven for about 100 miles on battery power alone, but it has a total range of nearly 500 miles when leveraging the combustion engine generator.\nThe Company's primary product is an SUV under its brand Li ONE. It also sells peripheral products and provides related services, such as charging stalls, vehicle internet connection services, and extended lifetime warranties. Li Auto is looking to sell a variety of SUVs built on its hybrid technology that range from around $21,000 to about $70,000. The company started shipping its first model in late 2019. It's a midsize SUV is well-appointed and has lots of touchscreens and technology. A full-size premium version is planned for release in 2022.\nDeliveries of Li ONEs were 14,464 vehicles in the fourth quarter of 2020, representing a 67.0% quarter-over-quarter increase and setting a new quarterly record. Deliveries for the full year 2020 reached 32,624 vehicles. Revenue in the fourth quarter was $635 million.\nLI auto went public on July 30th, 2020, raising $1.1 billion at an initial price of $15.50 per share but quickly reached almost $24. It is currently valued at approximately $37 billion at a price of approximately $25.72 per share.\nXPeng (XPEV)\nXiaopeng (XPeng) Motors is a Chinese electric vehicle and technology company that designs and manufactures smart cars. It was founded in 2015 and went public on August 27, 2020, using American depository shares, raising about $1 billion. To date, it has raised about $2.6 billion.\nXPeng aims its EVs at technology-savvy middle-class Chinese consumers, with prices ranging from $22,000 to $45,000 after government subsidies. In some ways, it is a Tesla knock-off at a much lower price. XPeng started production of the G3 in November 2018, and as of July 31, 2020, delivered 18,741. It started production of the P7 and began delivery in May 2020, and as of July 31, 2020, it had delivered 1,966 EVs. The P7 has a range of more than 400 miles. It plans to launch a third Smart EV, a sedan, in 2021. The G3 was among the top-three best-selling electric SUVs in China in 2019.\nXPeng is interesting because it has a platform strategy and is moving aggressively into autonomous driving. It uses a platform strategy to expand product offerings by launching one Smart EV model each year to broaden the addressable market. It builds new models on two highly flexible Smart EV platforms, called David and Edward, respectively. The David platform has been designed for vehicles with wheelbases ranging from 2,600 millimeters to 2,800 millimeters, and the Edward platform has been designed for vehicles with wheelbases ranging from 2,800 millimeters to 3,100 millimeters. It also adopted a platform approach for software systems.\nXPeng claims to be developing an autonomous driving capability for its EVs. The P7 is the first production vehicle to feature the NVIDIA DRIVE AGX Xavier system-on-a-chip (SoC) autonomous driving platform. The company's Smart Electric Platform Architecture (SEPA) runs on 2 chips - NVIDIA for the XPILOT and Qualcomm's Snapdragon™ 820A for intelligent services and infotainment, including cameras inside and outside, radars, HD-map, and ultrasonic sensors. Like Tesla, it claims it can create sufficiently-autonomous driving without lidar.\nTo enhance brand recognition and allow more people to experience its Smart EVs, it deployed a small number of Smart EVs in a ride-hailing service in Guangzhou on a trial basis, but it has no current plan to scale up a ride-hailing service.\nXpeng sees first-quarter 2021 deliveries rising 450% year-over-year to 12,500 vehicles. Revenues are expected to increase 533% from a year ago. The company didn't provide bottom-line estimates for the quarter, but will likely post another net loss as it ramps up manufacturing, invests in R&D, and builds out a new manufacturing plant set to open in 2022.\nXpeng reported selling 12,964 vehicles in Q4 2020, up 303% from a year ago. It delivered a total of 27,041 vehicles in 2020, up 112%. It makes the P7 sedan, a rival to the made-in-China Tesla Model 3, and the small G3 SUV.\nThe stock opened on August 27, 2020 at a price of $15 and a valuation of $11 billion, but its stock jumped more than 40% shortly after. Its current valuation is about $35 billion at a stock price of approximately $36.13 per share. It had about $300 million in revenue in 2019 with a loss of about $500 million.\nNio (NIO)\nUnlike previous companies, Nio has been a public company for some time. It originally went public in the U.S. back in September of 2018, selling IPO shares at $6.26 and raising $1 billion.\nNio's IPO was far from smooth. After going public at $6.26 per share, it traded down to nearly $1. Then in the middle of the coronavirus outbreak, Nio received a much-needed investment of $1 billion from investors, including state-backed entities.\nNio designs, jointly manufactures, and sells smart and connected premium electric vehicles, attempting to develop next-generation technologies in connectivity, autonomous driving, and artificial intelligence. Joint manufacturing means that it uses a state-owned contract manufacturer to build its cars.\nNio plans to provide customers with comprehensive, convenient, and innovative charging solutions and other user-centric services. It began deliveries of the ES8, a 7-seater high-performance premium electric SUV in China in June 2018, and its variant, the six-seater ES8, in March 2019. Nio officially launched the ES6, a 5-seater high-performance premium electric SUV, in December 2018 and began deliveries in June 2019. It officially launched the EC6, a 5-seater smart premium electric Coupe SUV, in December 2019 with deliveries in 2020.\nNio sold 17,353 EVs in Q4/2020 and 43,728 for the year. It warned a shortage in chips and batteries will force a production slowdown to 7,500 a month in Q2 from 10,000 vehicles a month in February.\nNio currently trades at more than $43 per share, including a big jump recently, for a valuation of approximately $48 billion. It had revenue of $2.3 billion in 2019 for a loss of $3.8 billion.\nSummary\nIt's almost a foregone conclusion that EVs will replace ICE vehicles in the next decade, and this should provide exciting new investment opportunities. However, the investment terrain is complex. There are dozens of new start-ups where the public can now invest that were previously exclusively venture capital investment opportunities. Many of these are following different roads to success. There are legacy auto manufacturers that could prosper or get destroyed in this transition. There are some exciting new EV company opportunities in China. And then there is Tesla.\nThis EV roadmap is intended to help investors explore different roads to investment by explaining the basic strategies for these EV companies. These roads can have different opportunities and risks, and the roadmap helps to frame these. Above all, valuation is an overriding risk that is highlighted throughout this article.","news_type":1},"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340891561,"gmtCreate":1617367884153,"gmtModify":1704699230666,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Tesla need new model with design for enhancing&nbsp;market share. I believe it’s not difficult on&nbsp;doing so for winning more car&nbsp;buyers.","listText":"Tesla need new model with design for enhancing&nbsp;market share. I believe it’s not difficult on&nbsp;doing so for winning more car&nbsp;buyers.","text":"Tesla need new model with design for enhancing market share. I believe it’s not difficult on doing so for winning more car buyers.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/340891561","repostId":"2124875875","repostType":4,"repost":{"id":"2124875875","pubTimestamp":1617366960,"share":"https://ttm.financial/m/news/2124875875?lang=&edition=fundamental","pubTime":"2021-04-02 20:36","market":"us","language":"en","title":"Tesla Q1 2021 Vehicle Production & Deliveries","url":"https://stock-news.laohu8.com/highlight/detail?id=2124875875","media":"StreetInsider","summary":"PALO ALTO, Calif., April 02, 2021  -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.Forward-Looking Statements Statements herein regarding the timin","content":"<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.</p>\n<table>\n <tbody>\n  <tr>\n   <td></td>\n   <td><b>Production</b></td>\n   <td><b>Deliveries</b></td>\n   <td><b>Subject to operating lease accounting</b></td>\n  </tr>\n  <tr>\n   <td>Model S/X</td>\n   <td>-</td>\n   <td>2,020</td>\n   <td>6%</td>\n  </tr>\n  <tr>\n   <td>Model 3/Y</td>\n   <td>180,338</td>\n   <td>182,780</td>\n   <td>7%</td>\n  </tr>\n  <tr>\n   <td><b>Total</b></td>\n   <td><b>180,338</b></td>\n   <td><b>184,800</b></td>\n   <td><b>7%</b></td>\n  </tr>\n </tbody>\n</table>\n<p>***************</p>\n<p>Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only <a href=\"https://laohu8.com/S/AONE\">one</a> measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.</p>\n<p><b>Forward-Looking Statements</b>&nbsp;Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.</p>\n<p><img src=\"https://static.tigerbbs.com/db04c7b378cb2db912c3ba8a5a774ee3\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>\n<p><img src=\"https://static.tigerbbs.com/c2196de8ba412c60c22ab491af7b1409\" tg-width=\"1\" tg-height=\"1\" referrerpolicy=\"no-referrer\"></p>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Q1 2021 Vehicle Production & Deliveries</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Q1 2021 Vehicle Production & Deliveries\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 20:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18215929><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18215929\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18215929","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2124875875","content_text":"PALO ALTO, Calif., April 02, 2021 (GLOBE NEWSWIRE) -- In the first quarter, we produced just over 180,000 vehicles and delivered nearly 185,000 vehicles. We are encouraged by the strong reception of the Model Y in China and are quickly progressing to full production capacity. The new Model S and Model X have also been exceptionally well received, with the new equipment installed and tested in Q1 and we are in the early stages of ramping production.\n\n\n\n\nProduction\nDeliveries\nSubject to operating lease accounting\n\n\nModel S/X\n-\n2,020\n6%\n\n\nModel 3/Y\n180,338\n182,780\n7%\n\n\nTotal\n180,338\n184,800\n7%\n\n\n\n***************\nOur net income and cash flow results will be announced along with the rest of our financial performance when we announce Q1 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.\nForward-Looking Statements Statements herein regarding the timing and future progress of our vehicle production ramp are “forward-looking statements” based on management’s current expectations and that are subject to risks and uncertainties. Various important factors could cause actual results to differ materially, including the risks identified in our SEC filings. Tesla disclaims any obligation to update this information.","news_type":1},"isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":139382727,"gmtCreate":1621592651469,"gmtModify":1704360206949,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"It restricted Hongkongees for getting rich. lol [Miser]&nbsp;","listText":"It restricted Hongkongees for getting rich. lol [Miser]&nbsp;","text":"It restricted Hongkongees for getting rich. lol [Miser]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/139382727","repostId":"2137903089","repostType":4,"repost":{"id":"2137903089","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":1621586627,"share":"https://ttm.financial/m/news/2137903089?lang=&edition=fundamental","pubTime":"2021-05-21 16:43","market":"hk","language":"en","title":"Hong Kong to restrict crypto exchanges to professional investors","url":"https://stock-news.laohu8.com/highlight/detail?id=2137903089","media":"Reuters","summary":"HONG KONG, May 21 (Reuters) - Cryptocurrency exchanges operating in Hong Kong will have to be licenc","content":"<p>HONG KONG, May 21 (Reuters) - Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals to be presented later this year.</p><p>Hong Kong's Financial Services and the Treasury Bureau, which has been consulting the market on changes to rules for crypto exchanges since last year, intends to table the legislation in the upcoming 2021-22 session of the city's legislative assembly, it said in a statement on Friday.</p><p>Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and preventing money laundering are particular concerns.</p><p>Cryptocurrencies such as bitcoin and ether have been on a roller-coaster ride this week which has raised further questions about their potential as mainstream investments.</p><p>Dozens of cryptocurrency exchanges operate in Hong Kong, including some of the world's largest. The city currently has an \"opt in\" approach under which exchanges can apply to be licenced by markets watchdog the Securities and Futures Commission, but do not have to.</p><p>Hong Kong's Financial Services and the Treasury Bureau <a href=\"https://laohu8.com/S/FSTB\">$(FSTB)$</a> has been consulting the market on changes to those rules since last year.</p><p>The FSTB said on Friday in its consultation conclusions all virtual asset (crypto currency) exchanges should be licensed if they wished to operate in Hong Kong.</p><p>It also said \"confining the services of a VA exchange to professional investors.... is appropriate at least for the initial stage of the licensing regime.\"</p><p>Local financial technology and crypto industry associations have opposed regulation stopping exchanges from offering services to retail investors, warning this could drive exchanges out of Hong Kong and push investors onto unregulated venues.</p><p>According to Hong Kong law, an individual must have a portfolio of HK$8 million ($1.03 million) to count as a professional investor.</p><p>Regulators and governments in Asia have different attitudes to regulating cryptocurrencies and the exchanges on which they are traded.</p><p>Under Singapore's regime, crypto exchanges must be licenced, but can have retail investors as clients. However, China on Tuesday announced a tougher ban on banks and payment companies offering crypto-related services which furthered a selloff that briefly wiped $1 trillion off crypto market capitalisation.</p><p>The FSTB said it intends to propose legislative changes to turn its proposals into law in the upcoming 2021-22 session of the city's legislative assembly.</p><p>($1 = 7.7637 Hong Kong dollars)</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>Hong Kong to restrict crypto exchanges to professional investors</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 to restrict crypto exchanges to professional investors\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\">2021-05-21 16:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>HONG KONG, May 21 (Reuters) - Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals to be presented later this year.</p><p>Hong Kong's Financial Services and the Treasury Bureau, which has been consulting the market on changes to rules for crypto exchanges since last year, intends to table the legislation in the upcoming 2021-22 session of the city's legislative assembly, it said in a statement on Friday.</p><p>Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and preventing money laundering are particular concerns.</p><p>Cryptocurrencies such as bitcoin and ether have been on a roller-coaster ride this week which has raised further questions about their potential as mainstream investments.</p><p>Dozens of cryptocurrency exchanges operate in Hong Kong, including some of the world's largest. The city currently has an \"opt in\" approach under which exchanges can apply to be licenced by markets watchdog the Securities and Futures Commission, but do not have to.</p><p>Hong Kong's Financial Services and the Treasury Bureau <a href=\"https://laohu8.com/S/FSTB\">$(FSTB)$</a> has been consulting the market on changes to those rules since last year.</p><p>The FSTB said on Friday in its consultation conclusions all virtual asset (crypto currency) exchanges should be licensed if they wished to operate in Hong Kong.</p><p>It also said \"confining the services of a VA exchange to professional investors.... is appropriate at least for the initial stage of the licensing regime.\"</p><p>Local financial technology and crypto industry associations have opposed regulation stopping exchanges from offering services to retail investors, warning this could drive exchanges out of Hong Kong and push investors onto unregulated venues.</p><p>According to Hong Kong law, an individual must have a portfolio of HK$8 million ($1.03 million) to count as a professional investor.</p><p>Regulators and governments in Asia have different attitudes to regulating cryptocurrencies and the exchanges on which they are traded.</p><p>Under Singapore's regime, crypto exchanges must be licenced, but can have retail investors as clients. However, China on Tuesday announced a tougher ban on banks and payment companies offering crypto-related services which furthered a selloff that briefly wiped $1 trillion off crypto market capitalisation.</p><p>The FSTB said it intends to propose legislative changes to turn its proposals into law in the upcoming 2021-22 session of the city's legislative assembly.</p><p>($1 = 7.7637 Hong Kong dollars)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSI":"恒生指数","01611":"新火科技控股","HSTECH":"恒生科技指数","GBTC":"Grayscale Bitcoin Trust","HSCCI":"红筹指数","HSCEI":"国企指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2137903089","content_text":"HONG KONG, May 21 (Reuters) - Cryptocurrency exchanges operating in Hong Kong will have to be licenced by the city's markets regulator and will only be allowed to provide services to professional investors, according to government proposals to be presented later this year.Hong Kong's Financial Services and the Treasury Bureau, which has been consulting the market on changes to rules for crypto exchanges since last year, intends to table the legislation in the upcoming 2021-22 session of the city's legislative assembly, it said in a statement on Friday.Governments and financial regulators around the world are still assessing whether and how they should regulate the cryptocurrency industry. Investor protection and preventing money laundering are particular concerns.Cryptocurrencies such as bitcoin and ether have been on a roller-coaster ride this week which has raised further questions about their potential as mainstream investments.Dozens of cryptocurrency exchanges operate in Hong Kong, including some of the world's largest. The city currently has an \"opt in\" approach under which exchanges can apply to be licenced by markets watchdog the Securities and Futures Commission, but do not have to.Hong Kong's Financial Services and the Treasury Bureau $(FSTB)$ has been consulting the market on changes to those rules since last year.The FSTB said on Friday in its consultation conclusions all virtual asset (crypto currency) exchanges should be licensed if they wished to operate in Hong Kong.It also said \"confining the services of a VA exchange to professional investors.... is appropriate at least for the initial stage of the licensing regime.\"Local financial technology and crypto industry associations have opposed regulation stopping exchanges from offering services to retail investors, warning this could drive exchanges out of Hong Kong and push investors onto unregulated venues.According to Hong Kong law, an individual must have a portfolio of HK$8 million ($1.03 million) to count as a professional investor.Regulators and governments in Asia have different attitudes to regulating cryptocurrencies and the exchanges on which they are traded.Under Singapore's regime, crypto exchanges must be licenced, but can have retail investors as clients. However, China on Tuesday announced a tougher ban on banks and payment companies offering crypto-related services which furthered a selloff that briefly wiped $1 trillion off crypto market capitalisation.The FSTB said it intends to propose legislative changes to turn its proposals into law in the upcoming 2021-22 session of the city's legislative assembly.($1 = 7.7637 Hong Kong dollars)","news_type":1},"isVote":1,"tweetType":1,"viewCount":188,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":376712440,"gmtCreate":1619148510180,"gmtModify":1704720396844,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Nothing right or wrong, It’s the duty for the President do and plan for a better shape and advance for the country American. It’s time for those wealthiest rich for contributing back to&nbsp;the nation. No offencing, please !!","listText":"Nothing right or wrong, It’s the duty for the President do and plan for a better shape and advance for the country American. It’s time for those wealthiest rich for contributing back to&nbsp;the nation. No offencing, please !!","text":"Nothing right or wrong, It’s the duty for the President do and plan for a better shape and advance for the country American. It’s time for those wealthiest rich for contributing back to the nation. No offencing, please !!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/376712440","repostId":"1141178573","repostType":4,"repost":{"id":"1141178573","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":1619147275,"share":"https://ttm.financial/m/news/1141178573?lang=&edition=fundamental","pubTime":"2021-04-23 11:07","market":"us","language":"en","title":"Biden to float historic tax increase on investment gains for the rich","url":"https://stock-news.laohu8.com/highlight/detail?id=1141178573","media":"Reuters","summary":"President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the l","content":"<p>President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.</p><p>The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.</p><p>That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.</p><p>News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&amp;P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.</p><p>Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.</p><p>\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.</p><p>Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.</p><p>Biden has promised not to raise taxes on households earning less than $400,000.</p><p>Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.</p><p>White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.</p><p>She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.</p><p>\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.</p><p><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90dcdfac3c849d0483fcf1eaee00814\" tg-width=\"7824\" tg-height=\"5219\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"></p><p><i>U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom Brenner</i></p><p>She said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.</p><p>Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.</p><p><b>CAPITAL GAINS</b></p><p>Biden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.</p><p>Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.</p><p>Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.</p><p>Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.</p><p>\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.</p><p>Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.</p><p>Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.</p><p>Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.</p><p>For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.</p><p><b>Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax Rate</b></p><p>Today the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).</p><p>Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that<b>\"Congress will settle on a more modest increase, potentially around 28%.\"</b>As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"</p><p>1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.<b>We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.</b>This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.</p><p><b>2. We expect Congress will pass a scaled back version of this tax increase.</b>While it is possible that Congress might pass the proposal in its entirety,<b>we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.</b>This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.</p><p>3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,<b>comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue</b>.</p><p>4. It is unclear when the higher rate would be effective, but we see three main options.</p><ul><li>First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.</li><li>A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.</li><li>The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.</li></ul><p>While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).</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>Biden to float historic tax increase on investment gains for the rich</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\">\nBiden to float historic tax increase on investment gains for the rich\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\">2021-04-23 11:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.</p><p>The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.</p><p>That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.</p><p>News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&amp;P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.</p><p>Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.</p><p>\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.</p><p>Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.</p><p>Biden has promised not to raise taxes on households earning less than $400,000.</p><p>Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.</p><p>White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.</p><p>She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.</p><p>\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.</p><p><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b90dcdfac3c849d0483fcf1eaee00814\" tg-width=\"7824\" tg-height=\"5219\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/3ac23774dc0b788c1569e6bfa03da03d\" tg-width=\"6754\" tg-height=\"4701\" referrerpolicy=\"no-referrer\"></p><p><i>U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom Brenner</i></p><p>She said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.</p><p>Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.</p><p><b>CAPITAL GAINS</b></p><p>Biden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.</p><p>Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.</p><p>Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.</p><p>Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.</p><p>\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.</p><p>Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.</p><p>Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.</p><p>Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.</p><p>For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.</p><p><b>Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax Rate</b></p><p>Today the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).</p><p>Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that<b>\"Congress will settle on a more modest increase, potentially around 28%.\"</b>As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"</p><p>1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.<b>We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.</b>This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.</p><p><b>2. We expect Congress will pass a scaled back version of this tax increase.</b>While it is possible that Congress might pass the proposal in its entirety,<b>we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.</b>This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.</p><p>3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,<b>comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue</b>.</p><p>4. It is unclear when the higher rate would be effective, but we see three main options.</p><ul><li>First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.</li><li>A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.</li><li>The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.</li></ul><p>While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index","SPY":"标普500ETF"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141178573","content_text":"President Joe Biden will roll out a plan to raise taxes on the wealthiest Americans, including the largest-ever increase in levies on investment gains, to fund about $1 trillion in childcare, universal pre-kindergarten education and paid leave for workers, sources familiar with the proposal said.The plan is part of the White House's push for a sweeping overhaul of the U.S. tax system to make rich people and big companies pay more and help foot the bill for Biden's ambitious economic agenda. The proposal calls for increasing the top marginal income tax rate to 39.6% from 37%, the sources said this week. It would also nearly double taxes on capital gains to 39.6% for people earning more than $1 million.That would be the highest tax rate on investment gains, which are mostly paid by the wealthiest Americans, since the 1920s. The rate has not exceeded 33.8% in the post-World War Two era.News of the proposal- which was a staple of Biden’s presidential campaign platform - triggered sharp declines on Wall Street, with the benchmark S&P 500 index(.SPX)down 1% in early afternoon, its steepest drop in more than a month.Any such hike would need to go through Congress, where Biden's Democratic Party holds narrow majorities and is unlikely to win support from Republicans. It is also unclear if it would have the unanimous backing of congressional Democrats, which would be essential in the Senate where each party holds 50 seats.\"If it had a chance of passing, we'd be down 2,000 points,\" said Thomas Hayes, chairman and managing member at hedge fund Great Hill Capital LLC, referring to stock market indexes.Sources said details would be released next week before Biden's address to Congress on Wednesday. Details of the plan may change in coming days. White House officials are debating other possible tax increases that could ultimately be included such as capping deductions for wealthy taxpayers or increasing the estate tax, sources told Reuters.Biden has promised not to raise taxes on households earning less than $400,000.Tax details related to the plan, which has been in the works for months, were first reported by the New York Times on Thursday morning.White House press secretary Jen Psaki said the president would discuss his \"American Families Plan\" during his speech to Congress but declined to comment on any details.She said the administration had not yet finalized funding plans but stressed Biden's determination to make the wealthy and companies pay for new programs.\"His view is that that should be on the backs ... of the wealthiest Americans who can afford it and corporations and businesses who can afford it,\" Psaki said.U.S. President Joe Biden speaks in the Cross Hall at the White House in Washington, U.S., April 20, 2021. REUTERS/Tom BrennerShe said Biden and his economic team did not believe the measures would have a negative impact on investment in the United States.Yields on Treasuries, which move in the opposite direction to their price, fell to the day's low.CAPITAL GAINSBiden's new plan, likely to generate about $1 trillion, comes after a $2.3 trillion jobs and infrastructure proposal that has already run into stiff opposition from Republicans. They generally support funding infrastructure projects but oppose Biden's inclusion of priorities like expanding eldercare and asking corporate America to pay the tab.Tax hikes on the wealthy could harden Republicans' resistance against Biden's latest \"human\" infrastructure plan, forcing Democrats to consider pushing it - or least some of the measures - through Congress using a party-line budget vote known as reconciliation.Senator Joe Manchin, a moderate Democrat from West Virginia who wields outsize power due to the party's slim majority, said recently said he was wary of expanding the use of reconciliation.Biden's proposal should be viewed as an aggressive negotiating tactic, said Steve Chiavarone, a portfolio manager and equity strategist at Federated Hermes.\"You should expect that you will get at least initially the biggest, baddest, most progressive policy proposals with the understanding that they won't get everything they want but define the scope of the negotiation. Maybe Biden doesn’t get 39%, he will get 29%\" tax rate, he said.Wealthy Americans could face an overall federal capital gains tax rate of 43.4% including the 3.8% net investment tax on individuals with income of $200,000 or more ($250,000 married filing jointly). The latter helps fund the Affordable Care Act, popularly known as Obamacare.Currently, those earning more than $200,000 pay a capital gains rate of about 23.8% including the Obamacare net investment tax instituted as part of that law. For tax year 2021, the top marginal tax rate remains 37% for individual single taxpayers with incomes greater than $523,600 and $628,300 for married couples filing jointly.Erica York, an economist at the Tax Foundation, said the proposal would put U.S. capital gains taxes at the top of the global charts. Average capital gains taxes in Europe are around 19.3%, and the highest rate there is in Denmark, which collects 42%. France and Finland charge 34%.For residents of some states and cities that assess their own capital gains levy, Biden’s plan would push the total capital gains rate to more than 50%, York said. The rate would rise to 56.7% in California, 68.2% in New York City and 57.3% in Portland, Oregon, York said.Goldman Says \"No Surprise\" In Biden Cap Gains Proposal, Sees Congress Settling On 28% Tax RateToday the market freaked out when Bloomberg reported that the Biden Administration will propose to tax capital gains at the top ordinary income tax rate (39.6%, or 43.4% when the existing 3.8% tax on net investment income tax is added).Well, according to Goldman, this is nothing more than the latest pipe dream trial balloon from progressives, one which won't actually take place and instead has been floated to set the negotiation \"ask\", with Goldman expecting that\"Congress will settle on a more modest increase, potentially around 28%.\"As such there are no actual \"surprises\" in the proposal which has been floated in this exact format previously, and while it remains unclear when the tax rate increase would be effective, the bank's economists \"think it is unlikely to apply to gains realized before May, and an increase effective Jan. 1, 2022 is more likely.\"1.Bloomberg hasreportedthat the Biden Administration will propose to raise the federal capital gains tax rate to 39.6%, also the top marginal income tax rate under President Biden’s proposal. In addition to 3.8% tax on net investment income that Congress established in 2009, the combined rate would be 43.4%.We had expected the President to propose this as part of his “American Families Plan” and the proposal comes as no surprise.This proposal would apply to taxpayers with annual incomes over $1 million, and would likely also apply to qualified dividends, which are currently taxed at the same rate as capital gains. We note that the Biden campaign also proposed eliminating the step-up in basis on inherited assets, which would result in much larger taxable gains on those assets once sold.2. We expect Congress will pass a scaled back version of this tax increase.While it is possible that Congress might pass the proposal in its entirety,we think a moderated version is more likely in light of the razor-thin majorities in the House and Senate. At 43.4%, long-term capital gains would be taxed at the highest rate in the more than 100 years since Congress established the income tax. A 28% rate looks most likely, in our view, as it is roughly halfway between the current rate and Biden’s likely proposal.This is also the rate that President Reagan and a Democratic House settled on a few decades ago when raising the tax from 20%.3. The issue will likely remain in flux over the next several months. We expect President Biden to discuss the issue among many other topics when he addresses a joint session of Congress on April 28. By early May, the Biden Administration might also release its full fiscal year 2022 budget submission to Congress, which would provide more details on tax proposals including capital gains. However, the timing of this release remains unclear. In the interim,comments from centrist Senate Democrats, such as Sens. Joe Manchin (D-W Va.) and Kyrsten Sinema (D-Ariz.),could clarify where key swing voters might come out on the issue.4. It is unclear when the higher rate would be effective, but we see three main options.First, Congress has occasionally made tax policies effective as of the date when the bill is introduced in the House of Representatives. This would likely be no earlier than May.A second option would be to make the higher tax rate effective for gains realized after the bill is enacted into law, which we think will be sometime between July and September.The third option would be an increase effective on January 1, 2022. We note that the last time Congress legislated an increase in the rate, the policy became law in October 1986 but the increase did not take effect until January 1987.While a retroactive increase cannot be ruled out entirely, we believe it is very unlikely that it would apply to gains realized before May 2021 (at earliest).","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378854514,"gmtCreate":1619017593638,"gmtModify":1704718421610,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Drop which is your opportunity, Up which is your fortune. Lol","listText":"Drop which is your opportunity, Up which is your fortune. Lol","text":"Drop which is your opportunity, Up which is your fortune. Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378854514","repostId":"1114709501","repostType":4,"repost":{"id":"1114709501","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":1619012348,"share":"https://ttm.financial/m/news/1114709501?lang=&edition=fundamental","pubTime":"2021-04-21 21:39","market":"us","language":"en","title":"Tesla stock dropped more than 2% in morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1114709501","media":"Tiger Newspress","summary":"Tesla stock dropped more than 2% in Wednesday morning trading.The launch of Tesla's super plant in B","content":"<p>Tesla stock&nbsp;dropped&nbsp;more&nbsp;than&nbsp;2%&nbsp;in&nbsp;Wednesday morning trading.The launch of Tesla's super plant in Berlin is likely to be significantly delayed,according to&nbsp;German business daily.</p><p><img src=\"https://static.tigerbbs.com/b525edb3c12a6ee6740baf665aa59a9e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Previously, Zhengzhou Zhengdong New District Municipal Supervision Bureau ordered Tesla to provide the complete driving data half an hour before the accident unconditionally; in addition, in the first quarter, the registration volume of model 3 in California dropped 54% to 8060 vehicles year on year.</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>Tesla stock dropped more than 2% in morning 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\">\nTesla stock dropped more than 2% in morning 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\">2021-04-21 21:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Tesla stock&nbsp;dropped&nbsp;more&nbsp;than&nbsp;2%&nbsp;in&nbsp;Wednesday morning trading.The launch of Tesla's super plant in Berlin is likely to be significantly delayed,according to&nbsp;German business daily.</p><p><img src=\"https://static.tigerbbs.com/b525edb3c12a6ee6740baf665aa59a9e\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>Previously, Zhengzhou Zhengdong New District Municipal Supervision Bureau ordered Tesla to provide the complete driving data half an hour before the accident unconditionally; in addition, in the first quarter, the registration volume of model 3 in California dropped 54% to 8060 vehicles year on year.</p>\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":"1114709501","content_text":"Tesla stock dropped more than 2% in Wednesday morning trading.The launch of Tesla's super plant in Berlin is likely to be significantly delayed,according to German business daily.Previously, Zhengzhou Zhengdong New District Municipal Supervision Bureau ordered Tesla to provide the complete driving data half an hour before the accident unconditionally; in addition, in the first quarter, the registration volume of model 3 in California dropped 54% to 8060 vehicles year on year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":241,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":373296204,"gmtCreate":1618846771308,"gmtModify":1704715869119,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"GameStop should change name as Non-Stop. &nbsp; &nbsp; Lol.","listText":"GameStop should change name as Non-Stop. &nbsp; &nbsp; Lol.","text":"GameStop should change name as Non-Stop. Lol.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/373296204","repostId":"1195602008","repostType":4,"repost":{"id":"1195602008","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":1618839329,"share":"https://ttm.financial/m/news/1195602008?lang=&edition=fundamental","pubTime":"2021-04-19 21:35","market":"us","language":"en","title":"GameStop jumped 8% in Monday morning trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1195602008","media":"Tiger Newspress","summary":"GameStop jumped 8% in Monday morning trading.GameStop CEO George Sherman will step down effective Ju","content":"<p>GameStop jumped 8% in Monday morning trading.</p><p><img src=\"https://static.tigerbbs.com/5668d0fb5af0448cacc5bceba5068277\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>GameStop CEO George Sherman&nbsp;will step down effective July 31, or earlier if a successor is found before then. The company said in a Securities and Exchange Commission filing that it has been evaluating executive leadership to make sure it is suitable for a changing business landscape. Separately, Keith Gill, the man known as “Roaring Kitty,” exercised options to buy 50,000 more shares of the video game retailer at a strike price of $12 per share, according to a Bloomberg report. Gill now holds 200,000 GameStop shares.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GameStop jumped 8% in Monday morning 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\">\nGameStop jumped 8% in Monday morning 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\">2021-04-19 21:35</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>GameStop jumped 8% in Monday morning trading.</p><p><img src=\"https://static.tigerbbs.com/5668d0fb5af0448cacc5bceba5068277\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p><p>GameStop CEO George Sherman&nbsp;will step down effective July 31, or earlier if a successor is found before then. The company said in a Securities and Exchange Commission filing that it has been evaluating executive leadership to make sure it is suitable for a changing business landscape. Separately, Keith Gill, the man known as “Roaring Kitty,” exercised options to buy 50,000 more shares of the video game retailer at a strike price of $12 per share, according to a Bloomberg report. Gill now holds 200,000 GameStop shares.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1195602008","content_text":"GameStop jumped 8% in Monday morning trading.GameStop CEO George Sherman will step down effective July 31, or earlier if a successor is found before then. The company said in a Securities and Exchange Commission filing that it has been evaluating executive leadership to make sure it is suitable for a changing business landscape. Separately, Keith Gill, the man known as “Roaring Kitty,” exercised options to buy 50,000 more shares of the video game retailer at a strike price of $12 per share, according to a Bloomberg report. Gill now holds 200,000 GameStop shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":181,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346965697,"gmtCreate":1617981098619,"gmtModify":1704705658948,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Just give out special dividend, Please !! Lol&nbsp;","listText":"Just give out special dividend, Please !! Lol&nbsp;","text":"Just give out special dividend, Please !! Lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346965697","repostId":"1119761514","repostType":4,"isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341467624,"gmtCreate":1617848034468,"gmtModify":1704703888400,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Crush provides opportunity too, Buy at dip.","listText":"Crush provides opportunity too, Buy at dip.","text":"Crush provides opportunity too, Buy at dip.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/341467624","repostId":"1139572887","repostType":4,"isVote":1,"tweetType":1,"viewCount":109,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345181324,"gmtCreate":1618287629068,"gmtModify":1704708633042,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Think and reality are so much different. Who ever also&nbsp;can think the bull can climb up to the Sky. Just be realistic and trade along with the trend.","listText":"Think and reality are so much different. Who ever also&nbsp;can think the bull can climb up to the Sky. Just be realistic and trade along with the trend.","text":"Think and reality are so much different. Who ever also can think the bull can climb up to the Sky. Just be realistic and trade along with the trend.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/345181324","repostId":"1140705302","repostType":4,"repost":{"id":"1140705302","pubTimestamp":1618282895,"share":"https://ttm.financial/m/news/1140705302?lang=&edition=fundamental","pubTime":"2021-04-13 11:01","market":"us","language":"en","title":"Tesla Stock: Headed to $1,071?","url":"https://stock-news.laohu8.com/highlight/detail?id=1140705302","media":"Motley Fool","summary":"This analyst thinks shares could soar 53% over the next 12 months.Shares of Tesla  popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.After the growth stock hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pu","content":"<p>This analyst thinks shares could soar 53% over the next 12 months.</p><p>Shares of&nbsp;<b>Tesla</b>&nbsp;(NASDAQ:TSLA)&nbsp;popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.</p><p>After the&nbsp;growth stock&nbsp;hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pullback created a buying opportunity?</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8ec999f3452554425f3330e1f6d5ebb1\" tg-width=\"2000\" tg-height=\"1052\" referrerpolicy=\"no-referrer\"><span>IMAGE SOURCE: GETTY IMAGES.</span></p><p><b>The path to $1,071</b></p><p>Dorsheimer more than doubled his price target for Tesla, increasing it from $419 to $1,071. In addition, the analyst changed his rating on the stock from hold to buy.</p><p>While Tesla makes most of its revenue from electric cars, the analyst's upgrade for the stock today has a lot to do with his bullish view for the company's solar and energy storage business. He believes Tesla's energy generation and storage business could rake in $8 billion of revenue annually by 2025 thanks to an \"<b>Apple</b>-esque ecosystem of energy products\" and \"harmonized electrification.\" Dorsheimer thinks that as Tesla resolves the battery cell supply shortage it said it was facing in its most recent quarterly update, the company is well positioned to grow the business through sales of its energy storage products. He also believes Tesla is several years ahead of the competition in energy storage, giving it an edge.</p><p><b>Momentum in energy</b></p><p>Though Tesla's electric-car business gets more attention than its energy storage business since that's where the bulk of the company's sales come from, energy storage deployments actually grew faster in 2020 than electric-car sales. Total energy storage deployments, measured in gigawatt hours (GWh), increased 83% year over year to 3 GWh in 2020.</p><p>\"This growth was driven mainly by the popularity of Megapack, our utility scale storage product,\" Tesla told&nbsp;investors&nbsp;in its fourth-quarter update. \"Powerwall demand continues to increase as the residential business continues to grow.\"</p><p>Impressively, this growth came even as production was limited. \"Our energy storage business continues to be supply constrained as backlog remains strong,\" Tesla said. But its efforts to increase cell production will help the company ramp up supply \"in the next few months.\" Because of this, the automaker anticipates its energy storage business will grow at approximately the same rate in 2021 as it did in 2020.</p><p>Tesla's solar business is growing slower, with megawatts of solar deployments increasing 18% in 2020 from the prior year. But this segment saw accelerated growth in the fourth quarter, when deployments grew 59% year over year.</p><p>While investors should be sure to do their own due diligence on Tesla stock, Dorsheimer does highlight an often-underappreciated aspect of the business that could become a significant contributor to Tesla's bottom line.</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>Tesla Stock: Headed to $1,071?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Stock: Headed to $1,071?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-13 11:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/12/tesla-stock-headed-to-1071/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This analyst thinks shares could soar 53% over the next 12 months.Shares of Tesla (NASDAQ:TSLA) popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/12/tesla-stock-headed-to-1071/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/04/12/tesla-stock-headed-to-1071/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140705302","content_text":"This analyst thinks shares could soar 53% over the next 12 months.Shares of Tesla (NASDAQ:TSLA) popped on Monday, rising nearly 4%. The gain followed an analyst's move to give the stock a significant price target increase. Canaccord Genuity analyst Jed Dorsheimer now thinks the electric-car maker's shares could rise to $1,071 within the next 12 months.After the growth stock hit an all-time high of just over $900 earlier this year, it slid sharply during part of February and the beginning of March. Has the pullback created a buying opportunity?IMAGE SOURCE: GETTY IMAGES.The path to $1,071Dorsheimer more than doubled his price target for Tesla, increasing it from $419 to $1,071. In addition, the analyst changed his rating on the stock from hold to buy.While Tesla makes most of its revenue from electric cars, the analyst's upgrade for the stock today has a lot to do with his bullish view for the company's solar and energy storage business. He believes Tesla's energy generation and storage business could rake in $8 billion of revenue annually by 2025 thanks to an \"Apple-esque ecosystem of energy products\" and \"harmonized electrification.\" Dorsheimer thinks that as Tesla resolves the battery cell supply shortage it said it was facing in its most recent quarterly update, the company is well positioned to grow the business through sales of its energy storage products. He also believes Tesla is several years ahead of the competition in energy storage, giving it an edge.Momentum in energyThough Tesla's electric-car business gets more attention than its energy storage business since that's where the bulk of the company's sales come from, energy storage deployments actually grew faster in 2020 than electric-car sales. Total energy storage deployments, measured in gigawatt hours (GWh), increased 83% year over year to 3 GWh in 2020.\"This growth was driven mainly by the popularity of Megapack, our utility scale storage product,\" Tesla told investors in its fourth-quarter update. \"Powerwall demand continues to increase as the residential business continues to grow.\"Impressively, this growth came even as production was limited. \"Our energy storage business continues to be supply constrained as backlog remains strong,\" Tesla said. But its efforts to increase cell production will help the company ramp up supply \"in the next few months.\" Because of this, the automaker anticipates its energy storage business will grow at approximately the same rate in 2021 as it did in 2020.Tesla's solar business is growing slower, with megawatts of solar deployments increasing 18% in 2020 from the prior year. But this segment saw accelerated growth in the fourth quarter, when deployments grew 59% year over year.While investors should be sure to do their own due diligence on Tesla stock, Dorsheimer does highlight an often-underappreciated aspect of the business that could become a significant contributor to Tesla's bottom line.","news_type":1},"isVote":1,"tweetType":1,"viewCount":143,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342822470,"gmtCreate":1618201079690,"gmtModify":1704707433536,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Nobody will know, only can mind prediction from chart and nowhere. Just need to keep ourselves in mind, trade with CARE !!","listText":"Nobody will know, only can mind prediction from chart and nowhere. Just need to keep ourselves in mind, trade with CARE !!","text":"Nobody will know, only can mind prediction from chart and nowhere. Just need to keep ourselves in mind, trade with CARE !!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342822470","repostId":"2126035702","repostType":4,"repost":{"id":"2126035702","pubTimestamp":1618189189,"share":"https://ttm.financial/m/news/2126035702?lang=&edition=fundamental","pubTime":"2021-04-12 08:59","market":"us","language":"en","title":"How much higher will this bull market go?","url":"https://stock-news.laohu8.com/highlight/detail?id=2126035702","media":"MarketWatch","summary":"The lessons of past U.S. bull marketsErnesto Benavides/AFP via Getty ImagesThis bull market's strong","content":"<p>The lessons of past U.S. bull markets</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a880e4a04ded029efefe9b3e3d87dc06\" tg-width=\"1260\" tg-height=\"839\" referrerpolicy=\"no-referrer\"><span>Ernesto Benavides/AFP via Getty Images</span></p><p>This bull market's strongest gains are behind us.</p><p>That's the conclusion I reached upon analyzing all U.S. bull markets since 1900. The good news is that, assuming the future is like the past, the current bull market still has more months of life in store. The bad news is that the stock market's gains during those months are likely to be far more modest than what we've gotten used to over the last 12 months.</p><p>This suggests that we should not extrapolate the last 12 months' gains into the future.</p><p>My analysis takes issue with those analysts who argue that the stock market's strength over the last 12 months is a bullish omen. In fact there's nothing particularly unusual about how strong the market was coming off its March 23, 2020, low.</p><p>That may seem hard to believe, given that the Dow Jones Industrial Average gained an incredible 74.4% over the 12 months from that low. But there actually are three other bull markets since 1900 in the calendar maintained by Ned Davis Research in which the Dow rose even more over the 12 months subsequent to their beginnings. The bull market that began following the Great Financial Crisis was not <a href=\"https://laohu8.com/S/AONE\">one</a> of those three, but it came close: In the 12 months following the Mar. 9, 2009, low, for example, the DJIA gained 61.4%.</p><p>The general pattern is that bull markets typically are strongest right after they're born: More than half of bull markets' total gains are produced in their first 12 months, on average. Consider the average bull market in the Ned Davis calendar. Not counting the current <a href=\"https://laohu8.com/S/AONE.U\">one</a>, there were 37 since 1900. Of them, nine--or 24%--didn't make it to their first birthdays. The remaining 28 lived to be 2.7 years old and during them the DJIA gained a total of 93.9%. If the current bull market is \"average,\" therefore, it will continue until November of next year--but produce only a modest gain from now until then.</p><p>Furthermore, the market's prospects may actually be more subdued because of its first-12-months strength. That's because there is a weak inverse correlation between a bull market's return it its first 12 months and how strong it is thereafter: Bull markets with the strongest first years tend not to last as long, or rise as far, as those bull markets that are slower to take off. (Note that this correlation is statistically weak, however, so you shouldn't make too much of it.)</p><p><b>What stock market return should you expect going forward?</b></p><p>What future equity return, then, should retirees and near-retirees assume in constructing their financial plans?</p><p>The efficient market hypothesis <a href=\"https://laohu8.com/S/EMH.UK\">$(EMH.UK)$</a> tells us that the stock market's expected return at any given time is independent of what has happened up until that point. That's because the stock market is a forward-looking, discounting mechanism. So its future return will be a function of whether the future turns out to be better or worse than what is currently anticipated--not by how the market has performed up until now.</p><p>The stock market's has produced an inflation-adjusted total return of 6.0% annualized since 1793, according to research conducted by Edward McQuarrie, a professor emeritus at the Leavey School of Business at Santa Clara University . So if you were agnostic about where we are in the stock market's cycle, and assuming the future is like the past, that's the expected return to imbed in your financial plans.</p><p>You may not adhere to the EMH, of course. Or you may worry that, since the stock market is overvalued currently according to any of a number of valuation measures, its expected return going forward is lower than average. I share that worry, as I have written in recent columns .</p><p>But even if you don't lower your expected return assumption because of overvaluation concerns, notice that the expected equity return you should include in your financial plan rises only to 6.0% annualized on an inflation- and dividend-adjusted basis. That's still far short of what the stock market produced over the last 12 months.</p><p>Trees don't grow to the sky, as John Maynard Keynes wrote a century ago. We forget that at our peril.</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>How much higher will this bull market go?</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\">\nHow much higher will this bull market go?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-12 08:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/how-much-higher-will-this-bull-market-go-11617981444?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The lessons of past U.S. bull marketsErnesto Benavides/AFP via Getty ImagesThis bull market's strongest gains are behind us.That's the conclusion I reached upon analyzing all U.S. bull markets since ...</p>\n\n<a href=\"https://www.marketwatch.com/story/how-much-higher-will-this-bull-market-go-11617981444?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":{"SDOW":"道指三倍做空ETF-ProShares","DDM":"道指两倍做多ETF",".IXIC":"NASDAQ Composite","DOG":"道指反向ETF",".SPX":"S&P 500 Index","DXD":"道指两倍做空ETF","DJX":"1/100道琼斯","UDOW":"道指三倍做多ETF-ProShares",".DJI":"道琼斯"},"source_url":"https://www.marketwatch.com/story/how-much-higher-will-this-bull-market-go-11617981444?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2126035702","content_text":"The lessons of past U.S. bull marketsErnesto Benavides/AFP via Getty ImagesThis bull market's strongest gains are behind us.That's the conclusion I reached upon analyzing all U.S. bull markets since 1900. The good news is that, assuming the future is like the past, the current bull market still has more months of life in store. The bad news is that the stock market's gains during those months are likely to be far more modest than what we've gotten used to over the last 12 months.This suggests that we should not extrapolate the last 12 months' gains into the future.My analysis takes issue with those analysts who argue that the stock market's strength over the last 12 months is a bullish omen. In fact there's nothing particularly unusual about how strong the market was coming off its March 23, 2020, low.That may seem hard to believe, given that the Dow Jones Industrial Average gained an incredible 74.4% over the 12 months from that low. But there actually are three other bull markets since 1900 in the calendar maintained by Ned Davis Research in which the Dow rose even more over the 12 months subsequent to their beginnings. The bull market that began following the Great Financial Crisis was not one of those three, but it came close: In the 12 months following the Mar. 9, 2009, low, for example, the DJIA gained 61.4%.The general pattern is that bull markets typically are strongest right after they're born: More than half of bull markets' total gains are produced in their first 12 months, on average. Consider the average bull market in the Ned Davis calendar. Not counting the current one, there were 37 since 1900. Of them, nine--or 24%--didn't make it to their first birthdays. The remaining 28 lived to be 2.7 years old and during them the DJIA gained a total of 93.9%. If the current bull market is \"average,\" therefore, it will continue until November of next year--but produce only a modest gain from now until then.Furthermore, the market's prospects may actually be more subdued because of its first-12-months strength. That's because there is a weak inverse correlation between a bull market's return it its first 12 months and how strong it is thereafter: Bull markets with the strongest first years tend not to last as long, or rise as far, as those bull markets that are slower to take off. (Note that this correlation is statistically weak, however, so you shouldn't make too much of it.)What stock market return should you expect going forward?What future equity return, then, should retirees and near-retirees assume in constructing their financial plans?The efficient market hypothesis $(EMH.UK)$ tells us that the stock market's expected return at any given time is independent of what has happened up until that point. That's because the stock market is a forward-looking, discounting mechanism. So its future return will be a function of whether the future turns out to be better or worse than what is currently anticipated--not by how the market has performed up until now.The stock market's has produced an inflation-adjusted total return of 6.0% annualized since 1793, according to research conducted by Edward McQuarrie, a professor emeritus at the Leavey School of Business at Santa Clara University . So if you were agnostic about where we are in the stock market's cycle, and assuming the future is like the past, that's the expected return to imbed in your financial plans.You may not adhere to the EMH, of course. Or you may worry that, since the stock market is overvalued currently according to any of a number of valuation measures, its expected return going forward is lower than average. I share that worry, as I have written in recent columns .But even if you don't lower your expected return assumption because of overvaluation concerns, notice that the expected equity return you should include in your financial plan rises only to 6.0% annualized on an inflation- and dividend-adjusted basis. That's still far short of what the stock market produced over the last 12 months.Trees don't grow to the sky, as John Maynard Keynes wrote a century ago. We forget that at our peril.","news_type":1},"isVote":1,"tweetType":1,"viewCount":112,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342029576,"gmtCreate":1618132299195,"gmtModify":1704706882956,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Radar detected,&nbsp;Buy.... let it break the all Time high 12.30 and fly high. Vested !!","listText":"Radar detected,&nbsp;Buy.... let it break the all Time high 12.30 and fly high. Vested !!","text":"Radar detected, Buy.... let it break the all Time high 12.30 and fly high. Vested !!","images":[{"img":"https://static.tigerbbs.com/19654dfb336ea8658c345cb95ba2ee11","width":"1125","height":"2857"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342029576","isVote":1,"tweetType":1,"viewCount":21,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":348744408,"gmtCreate":1617968478104,"gmtModify":1704705433297,"author":{"id":"3575511191000856","authorId":"3575511191000856","name":"EdwardSeng","avatar":"https://static.tigerbbs.com/6d8d4573767c374a34c23521c5806154","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3575511191000856","authorIdStr":"3575511191000856"},"themes":[],"htmlText":"Under my radar detected.","listText":"Under my radar detected.","text":"Under my radar detected.","images":[{"img":"https://static.tigerbbs.com/b3039bec0d15a9e0b2acb414a727e411","width":"1125","height":"3218"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/348744408","isVote":1,"tweetType":1,"viewCount":63,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}