newbill personal page - To The Moon

newbill

newbill

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05-30

$吉宝数据中心房地产信托(AJBU.SI)$

05-09

$Sezzle Inc(SEZL)$

2023-10-12

$AvePoint Inc.(AVPT)$

2023-09-27

$利安-华侨证券恒生科技ETF(S$)(HST.SI)$

2023-08-28

$京东集团-SW(09618)$

2023-07-04

$吉宝数据中心房地产信托(AJBU.SI)$

2023-06-29

$Ginkgo Bioworks Holdings Inc.(DNA)$

2023-05-23

$Ginkgo Bioworks Holdings Inc.(DNA)$

2022-10-24

$LION-OCBC HSTECH ETF S$(HST.SI)$mai

2022-10-10

Mai

投资者的“绞肉机”！腾讯4万多亿市值灰飞烟灭

2022-05-12

GG

暴跌21%！Beyond Meat Q1财报不及预期

2021-06-11

meme？

We put 6 more meme stocks' numbers to the test and the differences are telling

2021-06-03

Up up down down

2021-04-16

$Zynga(ZNGA)$ game game game

2021-04-15

$CapLand 5xLongSG230420(DAQW.SI)$May Iknow if the share distribute dividend, how dcl price impacted?

2021-04-01

Cool

Hong Kong stocks surge nearly 2%, leading the other Asia-Pacific markets

2021-03-27

Keep on buying

2021-03-27

Oh oh

Zhihu Technology fall on its first day of trading

2021-03-25

Why cannot trade??

Go to Tiger App to see more news

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S$(HST.SI)$mai","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9988066648","isVote":1,"tweetType":1,"viewCount":200,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9917963605,"gmtCreate":1665412817508,"gmtModify":1676537602118,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Mai&nbsp;","listText":"Mai&nbsp;","text":"Mai","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9917963605","repostId":"1136051660","repostType":2,"repost":{"id":"1136051660","pubTimestamp":1665394906,"share":"https://www.laohu8.com/m/news/1136051660?lang=&edition=full","pubTime":"2022-10-10 17:41","market":"hk","language":"zh","title":"投资者的“绞肉机”！腾讯4万多亿市值灰飞烟灭","url":"https://stock-news.laohu8.com/highlight/detail?id=1136051660","media":"巨潮WAVE","summary":"孱弱不堪的港股下跌不断，恒生指数已经接近1997年高点的位置，创11年以来新低。恒生科技指数更是连续刷新成立以来最低纪录。即便是港交所几千家上市公司的“定海神针”，腾讯在这场浩劫中也无法独善其身。股价","content":"<html><head></head><body><p>孱弱不堪的港股下跌不断，恒生指数已经接近1997年高点的位置，创11年以来新低。恒生科技指数更是连续刷新成立以来最低纪录。</p><p>即便是港交所几千家上市公司的“定海神针”，腾讯在这场浩劫中也无法独善其身。股价自去年2月份的历史高点重挫近64%，4万多亿港元市值灰飞烟灭。</p><p><b>蒸发掉的市值接近两个茅台，或者4个<a href=\"https://laohu8.com/S/300750\">宁德时代</a>的资本价值，这也是腾讯历史上最大幅度的调整。</b></p><p>下跌途中，一大批腾讯的“信仰派”投资者纷纷抄底加仓，但无一例外都被套牢，其中也包括了投资大佬段永平。</p><p><img src=\"https://static.tigerbbs.com/bf2dbd70769ae60fd0b94783ba0849a1\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"/></p><p>段永平在下跌过程不断抄底腾讯</p><p>需要指出的是，腾讯股价下跌，既有港股流动性问题、互联网监管趋严的监管因素，也有大股东减持的外因，同样也存在自身业绩增长乏力的内因，是<b>综合性因素导致的结果。</b></p><p>这家巨无霸企业被史无前例的肃杀氛围所笼罩，以至于成了投资者的“绞肉机”。</p><p><b>01、历史上最大跌幅</b></p><blockquote>历史上腾讯股价大幅下跌的情况比较少见。</blockquote><p>发展至今的腾讯，称得上是整个中文互联网的基座——微信已经像水一样渗入社会生活的方方面面。这给腾讯带来了规模巨大的业务收入和投资回报。</p><p>依托于全球18亿用户，以及每年不断增长的财务数据，腾讯历史上的每次危机和股价大跌，最终都会触底反弹并创新高。</p><p>经过梳理可以发现，<b>腾讯自上市以来出现30%以上的大幅下跌的情况很少见。</b>这一轮之前，在2008年金融危机前后出现过两次，2011年出现过一次，2018年出现过一次。</p><p>金融危机之后，腾讯股价在2010年1月突破了176.5港元，市值跃升至2500亿港元，一举超越<a href=\"https://laohu8.com/S/YHOO\">雅虎</a>，成为继谷歌、<a href=\"https://laohu8.com/S/AMZN\">亚马逊</a>之后的全球第三大互联网公司。</p><p><img src=\"https://static.tigerbbs.com/a31f5fae552ffdc1d5bfc419ff76fa84\" tg-width=\"1080\" tg-height=\"644\" referrerpolicy=\"no-referrer\"/></p><p>过去多年马化腾长期占据中国首富位置</p><p>彼时的腾讯依靠用户规模优势四处掠地，遭到了外界的敌对情绪。该年7月，著名的“3Q大战”正式打响。外部舆论压力，再加上游戏业务短暂寒冬，以及2011年QQ用户的首次下滑，让腾讯股价在2010年和2011年间出现大幅下跌。</p><p>危机过后，腾讯决定采取开放和分享战略，腾讯另一张王牌——微信也正式诞生，开放生态+全新产品掀起了腾讯股价波澜壮阔的上涨行情。从2011年底到2021年的历史最高点，股价上涨了20倍以上。</p><p>在此期间，腾讯股价仅2018年出现了较大幅度的调整。当时下跌的核心原因是中国互联网用户的增长见顶，以及游戏版号的停发。</p><p><b>而如今的这次下跌，叠加了更多方面的不利因素，是腾讯此前从未有过的、历史性的大暴跌。其市盈率已经被打到了仅有12倍，基本和A股燃气水务板块相当。</b></p><p>巨大的想象空间、高成长性、强盈利能力，原本是资本市场给予互联网巨头高估值的三大强逻辑。这些全都建立在用户数量的增加和使用时长的增长基础之上。</p><p>过去三年，腾讯系用户时长没有出现明显变化。但从占比来看变化明显，腾讯系和短视频平台之间此消彼长。</p><p><img src=\"https://static.tigerbbs.com/4052054bb5bdf806cb6c6310b7739018\" tg-width=\"1080\" tg-height=\"765\" referrerpolicy=\"no-referrer\"/></p><p>流量遭到蚕食，加上疫情影响，腾讯二季度广告收入186亿，同比下降18.42%。</p><p>游戏则遭受双向钳制，供给侧版号收缩，消费端则是未成年人保护政策，腾讯游戏业务二季度实现收入425亿元，同比也下滑了1%。但<b>在版号长期断供的背景下，这样的表现已经相当难得。</b></p><p>三大业务增长乏力，今年上半年，<a href=\"https://laohu8.com/S/00700\">腾讯控股</a>收入2695.05亿元，同比下滑1%；净利润420.32亿元，同比重挫53%。其中支撑腾讯增长增量的金融科技及企业服务业务，二季度斩获收入422亿元，同比仅增长1%，环比还下降了10%。</p><p><b>剔除投资等因素，腾讯经调整后净利润为536.84亿元，同比下滑20%。</b>基本面变差，再加上一系列利空消息空前密集爆发，这也就不难理解，腾讯股价为何萎靡不振，大幅度下跌。</p><p><b>02、风雨飘摇的“半条命”</b></p><blockquote>资本市场的剧烈波动对腾讯的影响巨大。</blockquote><p>2015年时马化腾曾表态，“腾讯现在只有半条命，另外半条命都交给了合作伙伴。”</p><p><b>而如今伙伴遍天下、投资了几乎整个互联网的腾讯，其持有的股权价值既是万亿美金市值的保障，也是盈利的重要源泉。</b>2021年，腾讯投资收益高达715亿元，足见腾讯投资业务的举足轻重。</p><p>刘炽平担纲的腾讯投资部，2008年来不断跑马圈地，在互联网黄金时代赚的盆满钵满。更重要的是，腾讯以资本为纽带，打造了“开放+链接”的“鹅系”商业生态，并成功建造了腾讯“第二商业帝国”。</p><p><img src=\"https://static.tigerbbs.com/0bfef2949b09a7615a6b1396d4d2b2bb\" tg-width=\"1080\" tg-height=\"720\" referrerpolicy=\"no-referrer\"/></p><p>低调的刘炽平负责腾讯投资业务</p><p><b>去年6月末，腾讯持有的上市公司股权公允价值一度攀升至1.45万亿元的顶峰，几乎相当于黑龙江省2021年的GDP。</b></p><p>腾讯投资规模“富可敌省”，<b>但硬币的另一面，也相当于将自己的“半条命”交给了资本市场，尤其是港股和美股资本市场。</b>今年上半年，受资本市场波动影响，腾讯投资组合回报只有18.1亿元，同比大降94%，导致其归母净利润大幅下滑。</p><p>腾讯市值中包含了许多被投企业的股权价值，这是腾讯和其他互联网企业最大的不同。腾讯系阵营中，持股市值规模最大的美团、<a href=\"https://laohu8.com/S/PDD\">拼多多</a>、<a href=\"https://laohu8.com/S/JD\">京东</a>、Sea Limited、快手的股价，过去一段时间均呈现断崖式下跌。</p><p>截至6月底，腾讯持有上市公司公允价值为6019.2亿元，去年末为9828.35亿元，蒸发了3809亿元。</p><p>联营上市公司公允价值为4700亿，2021年末公允价值为6347亿，下降了26%。</p><p>2021年开始，腾讯主动收缩战线，储备粮草。相继减持京东、Sea Limited、<a href=\"https://laohu8.com/S/002251\">步步高</a>、<a href=\"https://laohu8.com/S/600398\">海澜之家</a>、<a href=\"https://laohu8.com/S/01797\">新东方在线</a>、<a href=\"https://laohu8.com/S/300027\">华谊兄弟</a>等公司股票，除了用京东股份来分红外，其余总计套现超过33亿美元。</p><p>一级市场上，今年前7月，腾讯仅出手72次，累计金额138.7亿元，同比大幅收窄。</p><p><b>通过开源节流，腾讯持有的证券资产不断下滑，而在手现金持续增加，到今年上半年腾讯已拥有1846.58亿的现金储备。</b></p><p>而在腾讯减持子公司股份的同时，大股东南非报业集团也在减持腾讯，近三个月减持7600万股，约245亿港元。南非大股东的意图很直白，即通过减持腾讯的资金来回购Naspers和旗下投资公司Prosus的股份，以缩小股价和净资产（NAV）之间的折价。</p><p>换句话说，大股东不想额外再掏钱，而且减持和回购同步进行。</p><p>为对冲如此巨大的抛售，腾讯已连续30个交易日进行回购，累计耗资105.53亿港元，年内回购67次，回购金额高达205.64亿港元，创下今年港股回购金额之最和腾讯历史上回购金额之最。</p><p>可以看出，<b>腾讯回购和南非报业集团减持节奏和金额基本相当。</b>有机构预测，极端情况下，腾讯可能需要耗资千亿港元，并且持续到明年下半年，才能消化掉大股东的资金饥渴。</p><p>考虑到未来的开支需要，适时抛售成熟的投资项目就十分必要。因此“腾讯或将出清美团股票”很有可能并非空穴来风，后续有适合的机会，腾讯的减持计划仍将继续。</p><p><b>03、讲出新故事</b></p><blockquote>视频号和海外游戏肩负起续写新故事的重任。</blockquote><p>不同于消费公司的细水长流，互联网的价值在于巨大的想象空间和增长潜力。</p><p>腾讯的根基是QQ和微信的流量生意，其他业务都是对流量的变现。如今，广告、游戏、金融科技三大业务持续承压，<b>视频号和海外游戏肩负起续写新故事的重任。</b></p><p>即便上半年业绩不佳，但仰仗微信这个“国民级”的应用，腾讯的流量基本盘依旧稳固。二季度微信月活用户同比增长3.8%至12.99亿，腾讯系APP使用时长占比目前稳定在35%-36%。</p><p><img src=\"https://static.tigerbbs.com/a738432cb3226afac92924fd6fe64391\" tg-width=\"1080\" tg-height=\"635\" referrerpolicy=\"no-referrer\"/></p><p>微信是公认的中国最大的私域流量平台，也是商户长期运营成本最低的流量获取平台。今年年中，视频号日活用户8.13亿，超过<a href=\"https://laohu8.com/S/DYIN\">抖音</a>的6.8亿。</p><p>相比先行一步的抖音和快手，视频号的魅力仍然来自于背后的微信生态。马化腾就已指出：“今年7月，腾讯开始推出视频号信息流广告，相信这将是拓展市场份额及提升盈利能力的重要机遇。”</p><p>不仅广告，视频号小店（电商）、广告竞价系统、合约系统都已开放，腾讯在视频领域的商业化正式向抖音和快手宣战，这意味着微信流量变现的想象空间被进一步打开。</p><p><b>游戏曾一度是腾讯商业帝国的最大功臣，在国内游戏遭受需求和供给侧的双向钳制后，海外游戏成了更强劲的增长点。</b></p><p><img src=\"https://static.tigerbbs.com/060f22391eed55e4071cccfb747f796b\" tg-width=\"1080\" tg-height=\"726\" referrerpolicy=\"no-referrer\"/></p><p>2021年的第三和第四季度，腾讯海外游戏业务增速高达20%和34%，但时间来到2022年，由于经济下行、疫情居家红利消退，海外游戏的增速也明显放缓。</p><p>但<b>从腾讯的动作来看，这家全球最大的游戏公司依然看重海外这片蓝海市场。</b>米哈游就是在巨头的夹缝中，另辟蹊径选择出海，重磅作品《原神》长期问鼎中国游戏海外收入榜首。</p><p>伽马数据显示，2021年海外游戏市场增量已经超过国内市场。今年上半年，中国游戏市场销售收入下降了1.8%，而国产游戏在海外的收入同比增长了6.16%。</p><p><img src=\"https://static.tigerbbs.com/3807e104915622e180fdd5564c2b6992\" tg-width=\"1080\" tg-height=\"1035\" referrerpolicy=\"no-referrer\"/></p><p>米哈游珠玉在前，海外市场逆势增长，腾讯势必会投入更多资源，并提高游戏出海的战略地位。如今年8月份，腾讯旗下《和平精英》国际版《PUBG Mobile》收入环比增长了21%，上升至第二名，其海外总收入已突破36亿美元(252.5亿元)。</p><p>未来，腾讯能否触底反弹，就要看视频号和海外游戏两个新故事如何演绎。</p><p><b>04、写在最后</b></p><p>曾经因错失腾讯，一直念念不忘的段永平，终于在今年等到他认为的千载难逢的时机：</p><blockquote>“我始终认为腾讯是不错的公司，腾讯属于长坡厚雪的典范。拿着茅台或者腾讯，10年后不一定能大赚，但肯定比赔钱强很多。”</blockquote><p>一系列利空因素空前密集，足以让更多的投资者踌躇不前。从中国股王沦为“价值绞肉机”，股价从749港元跌至270港元，腾讯的投资者们正在承受巨大的压力和风险。</p><p>但段永平之所以如此看好腾讯，也代表了部分投资者对其的价值判断：<b>社交网络的壁垒值得长期信仰，类似于茅台酒的稀缺性和不可复制性。腾讯的核心武器并没有生锈。</b></p><p>就像在流量的海洋中深度下潜，腾讯正处在历史上最压抑和煎熬的时期。但它仍是中国商界的一面旗帜。</p></body></html>","source":"lsy1642045066006","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\" 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0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n投资者的“绞肉机”！腾讯4万多亿市值灰飞烟灭\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-10 17:41 北京时间&nbsp;&nbsp;&nbsp;<a href=https://mp.weixin.qq.com/s/h0KeNasosdyumVu6vxGfyA><strong>巨潮WAVE</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>孱弱不堪的港股下跌不断，恒生指数已经接近1997年高点的位置，创11年以来新低。恒生科技指数更是连续刷新成立以来最低纪录。即便是港交所几千家上市公司的“定海神针”，腾讯在这场浩劫中也无法独善其身。股价自去年2月份的历史高点重挫近64%，4万多亿港元市值灰飞烟灭。蒸发掉的市值接近两个茅台，或者4个宁德时代的资本价值，这也是腾讯历史上最大幅度的调整。下跌途中，一大批腾讯的“信仰派”投资者纷纷抄底加仓，...</p>\n\n<a href=\"https://mp.weixin.qq.com/s/h0KeNasosdyumVu6vxGfyA\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/e7799eeb7043b8caaf3d109c3b13109e","relate_stocks":{"BK1517":"云办公","00700":"腾讯控股","BK1502":"双十一","BK1608":"元宇宙概念","BK1531":"手游股","BK1516":"腾讯概念","BK1591":"就地过年概念","BK1526":"科网股","BK1589":"北水核心资产","BK1095":"互动媒体与服务","BK1521":"挪威政府全球养老基金持仓","BK1586":"云计算","TCEHY":"腾讯控股ADR","BK4077":"互动媒体与服务"},"source_url":"https://mp.weixin.qq.com/s/h0KeNasosdyumVu6vxGfyA","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1136051660","content_text":"孱弱不堪的港股下跌不断，恒生指数已经接近1997年高点的位置，创11年以来新低。恒生科技指数更是连续刷新成立以来最低纪录。即便是港交所几千家上市公司的“定海神针”，腾讯在这场浩劫中也无法独善其身。股价自去年2月份的历史高点重挫近64%，4万多亿港元市值灰飞烟灭。蒸发掉的市值接近两个茅台，或者4个宁德时代的资本价值，这也是腾讯历史上最大幅度的调整。下跌途中，一大批腾讯的“信仰派”投资者纷纷抄底加仓，但无一例外都被套牢，其中也包括了投资大佬段永平。段永平在下跌过程不断抄底腾讯需要指出的是，腾讯股价下跌，既有港股流动性问题、互联网监管趋严的监管因素，也有大股东减持的外因，同样也存在自身业绩增长乏力的内因，是综合性因素导致的结果。这家巨无霸企业被史无前例的肃杀氛围所笼罩，以至于成了投资者的“绞肉机”。01、历史上最大跌幅历史上腾讯股价大幅下跌的情况比较少见。发展至今的腾讯，称得上是整个中文互联网的基座——微信已经像水一样渗入社会生活的方方面面。这给腾讯带来了规模巨大的业务收入和投资回报。依托于全球18亿用户，以及每年不断增长的财务数据，腾讯历史上的每次危机和股价大跌，最终都会触底反弹并创新高。经过梳理可以发现，腾讯自上市以来出现30%以上的大幅下跌的情况很少见。这一轮之前，在2008年金融危机前后出现过两次，2011年出现过一次，2018年出现过一次。金融危机之后，腾讯股价在2010年1月突破了176.5港元，市值跃升至2500亿港元，一举超越雅虎，成为继谷歌、亚马逊之后的全球第三大互联网公司。过去多年马化腾长期占据中国首富位置彼时的腾讯依靠用户规模优势四处掠地，遭到了外界的敌对情绪。该年7月，著名的“3Q大战”正式打响。外部舆论压力，再加上游戏业务短暂寒冬，以及2011年QQ用户的首次下滑，让腾讯股价在2010年和2011年间出现大幅下跌。危机过后，腾讯决定采取开放和分享战略，腾讯另一张王牌——微信也正式诞生，开放生态+全新产品掀起了腾讯股价波澜壮阔的上涨行情。从2011年底到2021年的历史最高点，股价上涨了20倍以上。在此期间，腾讯股价仅2018年出现了较大幅度的调整。当时下跌的核心原因是中国互联网用户的增长见顶，以及游戏版号的停发。而如今的这次下跌，叠加了更多方面的不利因素，是腾讯此前从未有过的、历史性的大暴跌。其市盈率已经被打到了仅有12倍，基本和A股燃气水务板块相当。巨大的想象空间、高成长性、强盈利能力，原本是资本市场给予互联网巨头高估值的三大强逻辑。这些全都建立在用户数量的增加和使用时长的增长基础之上。过去三年，腾讯系用户时长没有出现明显变化。但从占比来看变化明显，腾讯系和短视频平台之间此消彼长。流量遭到蚕食，加上疫情影响，腾讯二季度广告收入186亿，同比下降18.42%。游戏则遭受双向钳制，供给侧版号收缩，消费端则是未成年人保护政策，腾讯游戏业务二季度实现收入425亿元，同比也下滑了1%。但在版号长期断供的背景下，这样的表现已经相当难得。三大业务增长乏力，今年上半年，腾讯控股收入2695.05亿元，同比下滑1%；净利润420.32亿元，同比重挫53%。其中支撑腾讯增长增量的金融科技及企业服务业务，二季度斩获收入422亿元，同比仅增长1%，环比还下降了10%。剔除投资等因素，腾讯经调整后净利润为536.84亿元，同比下滑20%。基本面变差，再加上一系列利空消息空前密集爆发，这也就不难理解，腾讯股价为何萎靡不振，大幅度下跌。02、风雨飘摇的“半条命”资本市场的剧烈波动对腾讯的影响巨大。2015年时马化腾曾表态，“腾讯现在只有半条命，另外半条命都交给了合作伙伴。”而如今伙伴遍天下、投资了几乎整个互联网的腾讯，其持有的股权价值既是万亿美金市值的保障，也是盈利的重要源泉。2021年，腾讯投资收益高达715亿元，足见腾讯投资业务的举足轻重。刘炽平担纲的腾讯投资部，2008年来不断跑马圈地，在互联网黄金时代赚的盆满钵满。更重要的是，腾讯以资本为纽带，打造了“开放+链接”的“鹅系”商业生态，并成功建造了腾讯“第二商业帝国”。低调的刘炽平负责腾讯投资业务去年6月末，腾讯持有的上市公司股权公允价值一度攀升至1.45万亿元的顶峰，几乎相当于黑龙江省2021年的GDP。腾讯投资规模“富可敌省”，但硬币的另一面，也相当于将自己的“半条命”交给了资本市场，尤其是港股和美股资本市场。今年上半年，受资本市场波动影响，腾讯投资组合回报只有18.1亿元，同比大降94%，导致其归母净利润大幅下滑。腾讯市值中包含了许多被投企业的股权价值，这是腾讯和其他互联网企业最大的不同。腾讯系阵营中，持股市值规模最大的美团、拼多多、京东、Sea Limited、快手的股价，过去一段时间均呈现断崖式下跌。截至6月底，腾讯持有上市公司公允价值为6019.2亿元，去年末为9828.35亿元，蒸发了3809亿元。联营上市公司公允价值为4700亿，2021年末公允价值为6347亿，下降了26%。2021年开始，腾讯主动收缩战线，储备粮草。相继减持京东、Sea Limited、步步高、海澜之家、新东方在线、华谊兄弟等公司股票，除了用京东股份来分红外，其余总计套现超过33亿美元。一级市场上，今年前7月，腾讯仅出手72次，累计金额138.7亿元，同比大幅收窄。通过开源节流，腾讯持有的证券资产不断下滑，而在手现金持续增加，到今年上半年腾讯已拥有1846.58亿的现金储备。而在腾讯减持子公司股份的同时，大股东南非报业集团也在减持腾讯，近三个月减持7600万股，约245亿港元。南非大股东的意图很直白，即通过减持腾讯的资金来回购Naspers和旗下投资公司Prosus的股份，以缩小股价和净资产（NAV）之间的折价。换句话说，大股东不想额外再掏钱，而且减持和回购同步进行。为对冲如此巨大的抛售，腾讯已连续30个交易日进行回购，累计耗资105.53亿港元，年内回购67次，回购金额高达205.64亿港元，创下今年港股回购金额之最和腾讯历史上回购金额之最。可以看出，腾讯回购和南非报业集团减持节奏和金额基本相当。有机构预测，极端情况下，腾讯可能需要耗资千亿港元，并且持续到明年下半年，才能消化掉大股东的资金饥渴。考虑到未来的开支需要，适时抛售成熟的投资项目就十分必要。因此“腾讯或将出清美团股票”很有可能并非空穴来风，后续有适合的机会，腾讯的减持计划仍将继续。03、讲出新故事视频号和海外游戏肩负起续写新故事的重任。不同于消费公司的细水长流，互联网的价值在于巨大的想象空间和增长潜力。腾讯的根基是QQ和微信的流量生意，其他业务都是对流量的变现。如今，广告、游戏、金融科技三大业务持续承压，视频号和海外游戏肩负起续写新故事的重任。即便上半年业绩不佳，但仰仗微信这个“国民级”的应用，腾讯的流量基本盘依旧稳固。二季度微信月活用户同比增长3.8%至12.99亿，腾讯系APP使用时长占比目前稳定在35%-36%。微信是公认的中国最大的私域流量平台，也是商户长期运营成本最低的流量获取平台。今年年中，视频号日活用户8.13亿，超过抖音的6.8亿。相比先行一步的抖音和快手，视频号的魅力仍然来自于背后的微信生态。马化腾就已指出：“今年7月，腾讯开始推出视频号信息流广告，相信这将是拓展市场份额及提升盈利能力的重要机遇。”不仅广告，视频号小店（电商）、广告竞价系统、合约系统都已开放，腾讯在视频领域的商业化正式向抖音和快手宣战，这意味着微信流量变现的想象空间被进一步打开。游戏曾一度是腾讯商业帝国的最大功臣，在国内游戏遭受需求和供给侧的双向钳制后，海外游戏成了更强劲的增长点。2021年的第三和第四季度，腾讯海外游戏业务增速高达20%和34%，但时间来到2022年，由于经济下行、疫情居家红利消退，海外游戏的增速也明显放缓。但从腾讯的动作来看，这家全球最大的游戏公司依然看重海外这片蓝海市场。米哈游就是在巨头的夹缝中，另辟蹊径选择出海，重磅作品《原神》长期问鼎中国游戏海外收入榜首。伽马数据显示，2021年海外游戏市场增量已经超过国内市场。今年上半年，中国游戏市场销售收入下降了1.8%，而国产游戏在海外的收入同比增长了6.16%。米哈游珠玉在前，海外市场逆势增长，腾讯势必会投入更多资源，并提高游戏出海的战略地位。如今年8月份，腾讯旗下《和平精英》国际版《PUBG Mobile》收入环比增长了21%，上升至第二名，其海外总收入已突破36亿美元(252.5亿元)。未来，腾讯能否触底反弹，就要看视频号和海外游戏两个新故事如何演绎。04、写在最后曾经因错失腾讯，一直念念不忘的段永平，终于在今年等到他认为的千载难逢的时机：“我始终认为腾讯是不错的公司，腾讯属于长坡厚雪的典范。拿着茅台或者腾讯，10年后不一定能大赚，但肯定比赔钱强很多。”一系列利空因素空前密集，足以让更多的投资者踌躇不前。从中国股王沦为“价值绞肉机”，股价从749港元跌至270港元，腾讯的投资者们正在承受巨大的压力和风险。但段永平之所以如此看好腾讯，也代表了部分投资者对其的价值判断：社交网络的壁垒值得长期信仰，类似于茅台酒的稀缺性和不可复制性。腾讯的核心武器并没有生锈。就像在流量的海洋中深度下潜，腾讯正处在历史上最压抑和煎熬的时期。但它仍是中国商界的一面旗帜。","news_type":1},"isVote":1,"tweetType":1,"viewCount":137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9064616237,"gmtCreate":1652316269529,"gmtModify":1676535075943,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"GG","listText":"GG","text":"GG","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9064616237","repostId":"2234998269","repostType":2,"repost":{"id":"2234998269","pubTimestamp":1652314572,"share":"https://www.laohu8.com/m/news/2234998269?lang=&edition=full","pubTime":"2022-05-12 08:16","market":"us","language":"zh","title":"暴跌21%！Beyond Meat Q1财报不及预期","url":"https://stock-news.laohu8.com/highlight/detail?id=2234998269","media":"智通财经","summary":"智通财经APP获悉，人造肉领域领导者Beyond Meat于美东时间周三盘后公布其截至4月2日的2022年第一季度财务报告，数据显示，Beyond Meat第一季度净营收为1.095亿美元，同比增长1.2%，不及市场普遍预计的1.123亿美元。Beyond Meat第一季度净亏损为1.005亿美元，高于上年同期的净亏损2,727万美元;非GAAP准则下调整后EBITDA为亏损7890万美元，上年同期为亏损1084万美元。截至周三收盘，Beyond Meat股价下跌13.83%至26.170美元。","content":"<html><head></head><body><p>智通财经APP获悉，人造肉领域领导者Beyond Meat(BYND.US)于美东时间周三盘后公布其截至4月2日的2022年第一季度财务报告，数据显示，Beyond Meat第一季度净营收为1.095亿美元，同比增长1.2%，不及市场普遍预计的1.123亿美元。非GAAP准则下该公司第一季度调整后摊薄每股亏损为1.58美元，而市场普遍预期为亏损1.01美元，上年同期为每股亏损0.42美元。</p><p>Beyond Meat第一季度净亏损为1.005亿美元，高于上年同期的净亏损2,727万美元;非GAAP准则下调整后EBITDA为亏损7890万美元，上年同期为亏损1084万美元。该公司表示，亏损超出预期的原因是新推出的植物肉干产品严重影响了公司整体利润。盘后公布最新财报之后，Beyond Meat股价在美股盘后交易中一度跌超25%，延续了当天早些时候的跌幅。截至周三收盘，Beyond Meat股价下跌13.83%至26.170美元。<img src=\"https://static.tigerbbs.com/93b4f31a66ca3eb42732bd105e80664e\" tg-width=\"861\" tg-height=\"687\" referrerpolicy=\"no-referrer\"/></p><p><b>新产品投入成本高</b></p><p>Beyond Meat首席执行官Ethan Brown在一份声明中表示，为了支持新的战略，即通过与百事公司(PEP.US)的合资企业生产基于植物的肉干产品，该公司的毛利率受到了“巨大但短暂”的冲击。数据显示，该公司第一季度毛利占营收比例仅为0.2%，远低于上年同期的30.2%。</p><p>Beyond Meat首席财务官Phil Hardin在业绩电话会上表示:“虽然我们对早期的销售业绩和强劲的客户回应感到兴奋，但仍处于起步阶段的Beyond Meat Jerky(肉干产品)制造是影响本季度总体盈利能力的重大因素。”</p><p>Hardin表示，这种肉干大规模投放对Beyond来说是前所未有。该产品在56,000个销售点有售，然而，Hardin表示这种生产和投放被证明是“昂贵和低效”。</p><p>但该公司试图安抚投资者。高管们表示，预计第一季度将是该公司2022年利润率的低点，而不稳定的生产效率将在今年下半年大幅提高。</p><p>剔除价格或汇率波动的影响，该公司第一季度总产品销售量同比增长12.4%，然而，每磅产品净营收同比下降10%，该公司表示，它加大了对国际客户的折扣，并降低了在欧盟的销售价格。</p><p><b>国际市场净营收下滑</b></p><p>在美国市场，Beyond Meat净营收同比增长4%，不过，美国餐饮服务净营收(包括对餐厅和大学校园的产品销售)第一季度同比下降了7.5%。尽管其食品杂货部门净营收同比增长6.9%，但该公司表示，除了牛肉干以外的其他产品的销售额有所下降。</p><p>在本土市场之外Beyond Meat净营收同比下降6.9%，尽管该公司表示，在国际杂货店和食品服务网点销售了更多的肉类替代品，但同时表示，汇率影响了其国际销售额。</p><p>该公司表示通胀、新冠肺炎疫情、劳动力可用性和供应链中断等问题仍在影响公司运营，重申其全年营收预期为5.6亿至6.2亿美元，与2021年相比将增长21%至33%。</p></body></html>","source":"stock_zhitongcaijing","collect":0,"html":"<!DOCTYPE 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}\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n暴跌21%！Beyond Meat Q1财报不及预期\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-05-12 08:16 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/722147.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉，人造肉领域领导者Beyond Meat(BYND.US)于美东时间周三盘后公布其截至4月2日的2022年第一季度财务报告，数据显示，Beyond Meat第一季度净营收为1.095亿美元，同比增长1.2%，不及市场普遍预计的1.123亿美元。非GAAP准则下该公司第一季度调整后摊薄每股亏损为1.58美元，而市场普遍预期为亏损1.01美元，上年同期为每股亏损0.42美元。...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/722147.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/a74433beb591c49d2fffa16bfd0cd8ad","relate_stocks":{"BYND":"Beyond Meat, Inc."},"source_url":"http://www.zhitongcaijing.com/content/detail/722147.html","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2234998269","content_text":"智通财经APP获悉，人造肉领域领导者Beyond Meat(BYND.US)于美东时间周三盘后公布其截至4月2日的2022年第一季度财务报告，数据显示，Beyond Meat第一季度净营收为1.095亿美元，同比增长1.2%，不及市场普遍预计的1.123亿美元。非GAAP准则下该公司第一季度调整后摊薄每股亏损为1.58美元，而市场普遍预期为亏损1.01美元，上年同期为每股亏损0.42美元。Beyond Meat第一季度净亏损为1.005亿美元，高于上年同期的净亏损2,727万美元;非GAAP准则下调整后EBITDA为亏损7890万美元，上年同期为亏损1084万美元。该公司表示，亏损超出预期的原因是新推出的植物肉干产品严重影响了公司整体利润。盘后公布最新财报之后，Beyond Meat股价在美股盘后交易中一度跌超25%，延续了当天早些时候的跌幅。截至周三收盘，Beyond Meat股价下跌13.83%至26.170美元。新产品投入成本高Beyond Meat首席执行官Ethan Brown在一份声明中表示，为了支持新的战略，即通过与百事公司(PEP.US)的合资企业生产基于植物的肉干产品，该公司的毛利率受到了“巨大但短暂”的冲击。数据显示，该公司第一季度毛利占营收比例仅为0.2%，远低于上年同期的30.2%。Beyond Meat首席财务官Phil Hardin在业绩电话会上表示:“虽然我们对早期的销售业绩和强劲的客户回应感到兴奋，但仍处于起步阶段的Beyond Meat Jerky(肉干产品)制造是影响本季度总体盈利能力的重大因素。”Hardin表示，这种肉干大规模投放对Beyond来说是前所未有。该产品在56,000个销售点有售，然而，Hardin表示这种生产和投放被证明是“昂贵和低效”。但该公司试图安抚投资者。高管们表示，预计第一季度将是该公司2022年利润率的低点，而不稳定的生产效率将在今年下半年大幅提高。剔除价格或汇率波动的影响，该公司第一季度总产品销售量同比增长12.4%，然而，每磅产品净营收同比下降10%，该公司表示，它加大了对国际客户的折扣，并降低了在欧盟的销售价格。国际市场净营收下滑在美国市场，Beyond Meat净营收同比增长4%，不过，美国餐饮服务净营收(包括对餐厅和大学校园的产品销售)第一季度同比下降了7.5%。尽管其食品杂货部门净营收同比增长6.9%，但该公司表示，除了牛肉干以外的其他产品的销售额有所下降。在本土市场之外Beyond Meat净营收同比下降6.9%，尽管该公司表示，在国际杂货店和食品服务网点销售了更多的肉类替代品，但同时表示，汇率影响了其国际销售额。该公司表示通胀、新冠肺炎疫情、劳动力可用性和供应链中断等问题仍在影响公司运营，重申其全年营收预期为5.6亿至6.2亿美元，与2021年相比将增长21%至33%。","news_type":1},"isVote":1,"tweetType":1,"viewCount":333,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181728547,"gmtCreate":1623412834989,"gmtModify":1704202908101,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"meme？","listText":"meme？","text":"meme？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/181728547","repostId":"2142022769","repostType":4,"repost":{"id":"2142022769","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623380100,"share":"https://www.laohu8.com/m/news/2142022769?lang=&edition=full","pubTime":"2021-06-11 10:55","market":"us","language":"en","title":"We put 6 more meme stocks' numbers to the test and the differences are telling","url":"https://stock-news.laohu8.com/highlight/detail?id=2142022769","media":"Dow Jones","summary":"Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.The world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.After last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows i","content":"<blockquote>\n <b>Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.</b>\n</blockquote>\n<p>The world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.</p>\n<p>After last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows is the same treatment for six more.</p>\n<p>(The BANG stocks are BlackBerry Ltd. (BB.T), AMC Entertainment Holdings Inc <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, Nokia Corp. (NOKIA.HE) and GameStop Corp. <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>.)</p>\n<p><b>Short squeezes and meme stocks</b></p>\n<p>Traders looking to group together on social media to make quick killings by pushing up share prices of companies at early stages or those going through difficult times have been setting up short squeezes.</p>\n<p>Professional investors have traditionally short-sold shares of companies they believe will perform worse than most other investors or analysts expect. Shorting means borrowing a company's shares and selling them immediately, in the hope of buying them back at a lower price, returning them to the lender and pocketing the difference. If you simply buy a stock hoping it will go up, all you risk is the money you invest. You might get wiped out. But if you short a stock, your risk potential is unlimited. You never know how high the price might rise if you have gotten the trade wrong.</p>\n<p>\"Covering\" a short position is when you buy back the shares to return them to the investor who lent them to you. You are hoping to cover at a lower price than you sold the shares for, to make a profit.</p>\n<p>To have a short position, you need to have a margin account with a broker -- an account that lets you borrow to invest or trade. Because of the risk in taking a short position, if the share price goes against you (higher), your broker will keep increasing its collateral requirements. If you run out of cash as the price keeps rising, you will be forced to cover at a loss. That type of action among a large group of short-sellers pushes the price higher in a spiral -- a short squeeze.</p>\n<p><b>Six more meme stocks</b></p>\n<p>The action changes daily. On June 9, for example, shares of Clover Health Investments Corp. <a href=\"https://laohu8.com/S/CLOV\">$(CLOV)$</a> fell 24% after rising 86% the day before. The stock is 36.6% sold short, according to FactSet.</p>\n<p>Read:Newest meme stock darling Clover Health is popping. Is the SEC watching?</p>\n<p>Here are the six additional meme stocks, following our initial group of eight , sorted by market capitalization as of the close on June 9:</p>\n<p><img src=\"https://static.tigerbbs.com/45b4fabbee4e18ee1b473200ab3a7c4b\" tg-width=\"1260\" tg-height=\"300\"></p>\n<p><a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a> (PLTR) provides a software platform used by government defense and intelligence agencies. It is the largest company on the list by market cap, but not by revenue, as you can see below. A year-to-date chart of its price performance shows how wild the meme-stock action can be:</p>\n<p><img src=\"https://static.tigerbbs.com/1d9a8e2dfc61b0e4ff70a8630193cecb\" tg-width=\"1259\" tg-height=\"1038\"></p>\n<p>Palantir's stock was up 3% for 2021 through June 9, but its market cap had increased by 26% because the company had been raising cash by selling additional shares to investors. The company's following as a meme stock seems to spring more from its growth prospects than from short interest, which peaked at 8.5% of shares available for sale, according to FactSet.</p>\n<p>Wendy's Co. <a href=\"https://laohu8.com/S/WEN\">$(WEN)$</a> is another meme stock whose addition to the group may be a bit confusing, as the stock isn't heavily shorted and the company is stable. Thornton McEnery dug into the action on June 8, which may have included confusion over Wendy's ticker symbol , when the stock rose 26%.</p>\n<p><a href=\"https://laohu8.com/S/WISH\">ContextLogic Inc.</a> (WISH) is <a href=\"https://laohu8.com/S/AONE\">one</a> of two stocks on the new list that have fallen this year. The mobile e-commerce company's stock opened below its initial public offering price before the IPO.</p>\n<p><b>Short interest</b></p>\n<p>Keeping the group in the same order, here are levels of short interest as percentages of available shares and in dollars:</p>\n<p><img src=\"https://static.tigerbbs.com/d0875b54168c760b950d250308eb5efd\" tg-width=\"1260\" tg-height=\"390\"></p>\n<p>FactSet's data on short positions as a percentage of shares outstanding is updated twice a month. The data was updated overnight between June 9 and 10. The second update takes place around the 25th day of the month.</p>\n<p>Clover is the most heavily shorted stock on the list. Brad Lamensdorf, CEO of ActiveAlts in Westport, Conn., who runs long and short investment strategies, said previously that a short percentage \"over 30% to 40% is outrageously high.\" (Lamensdorf co-manages the AdvisorShares <a href=\"https://laohu8.com/S/HDGE\">Ranger Equity Bear ETF</a> (HDGE), which is meant to be used as a hedging tool.)</p>\n<p>A high percentage of shares sold short makes a stock especially dangerous for the short-sellers, because it can increase the intensity of any short squeeze.</p>\n<p>We have shown the short interest as a percentage of market cap in order to provide context. Tesla Inc. <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> is an excellent example to provide more context, because the company has such a large market capitalization of $576.8 billion. Only 5.16% of the shares are sold short, but that comes to $29.8 billion in short interest -- the most (in dollars) for any stock in the S&amp;P 500. Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> ranks second for dollars of short interest in the benchmark index, with 1.09% of shares sold short, which comes to $18.1 billion in short interest for a company with a market cap of $1.66 trillion.</p>\n<p><a href=\"https://laohu8.com/S/GOEV\">Canoo Inc.</a> (GOEV) is the second-most heavily shorted stock listed above, at 29.5%. The electric-vehicle maker was formed on Dec. 21 through the merger of Canoo Holdings Ltd. and Hennessy Capital Acquisition Corp. IV, a special purpose acquisition company, or SPAC. Canoo expects to produce its first vehicle in mid-2022 in limited quantities, with \"serial production launching in 2023,\" according to its 10-K report filed on March 31.</p>\n<p><a href=\"https://laohu8.com/S/CLNE\">Clean Energy Fuels Corp</a>. <a href=\"https://laohu8.com/S/CLNE.AU\">$(CLNE.AU)$</a> provides natural gas for use as an alternative to gasoline or diesel for fleets of vehicles. The stock is 6.58% sold-short, but has had a good run this year as the energy sector has recovered.</p>\n<p><b>Fundamentals</b></p>\n<p>We'll look back at sales results for this group of six meme stocks and then look ahead at sales estimates through 2023.</p>\n<ul>\n <li><b>Looking back</b></li>\n</ul>\n<p>First, here's a comparison of annual sales, in millions of dollars for the past five reported fiscal years (where available):</p>\n<p><img src=\"https://static.tigerbbs.com/bcc4fbd762406f0684e991d289b8b760\" tg-width=\"1260\" tg-height=\"392\"></p>\n<p>You can see clear growth paths in recent years for Palantir, Wendy's and ContextLogic, while Clean Energy Fuels had understandable challenges from lower natural gas prices in 2020.</p>\n<p>Clover was incorporated on Oct. 18, 2019. It hasn't yet reported annual revenue. For the first quarter, the company reported $200.3 million in sales, up from $165.5 million in the first quarter of 2020. Clover merged with <a href=\"https://laohu8.com/S/IPOC.U\">Social Capital Hedosophia Holdings Corp. III</a> (a SPAC) on Jan. 7.</p>\n<ul>\n <li><b>Looking ahead -- sales</b></li>\n</ul>\n<p>Starting from a baseline of calendar 2021, here are sales estimates going out through 2023 among Wall Street analysts polled by FactSet:</p>\n<p><img src=\"https://static.tigerbbs.com/37c11916067fb3829caff57a89cf17f0\" tg-width=\"1260\" tg-height=\"380\"></p>\n<p>Double-digit or better sales growth is expected for all of the companies over the next two years except Wendy's. Price-to-sale ratios, based on closing share prices on June 9 and the 2023 estimates, are included. In comparison, the S&amp;P 500 trades for 2.5 times its weighted aggregate consensus sales estimate for 2023.</p>\n<p><b>Looking ahead -- earnings</b></p>\n<p>Here are earnings-per-share estimates going out to 2023:</p>\n<p><img src=\"https://static.tigerbbs.com/4cf06aa00f9303dda82b1c3f8cf34c21\" tg-width=\"1260\" tg-height=\"500\"></p>\n<p>You might not have expected the EPS projections to be particularly useful, but they underscore how high these stocks are trading. The S&amp;P 500 trades for 18.4 times its consensus EPS estimate for 2023.</p>\n<p>The estimates show expected improvement for Palantir, if it manages to maintain its rapid sales growth. Wendy's is expected to improve EPS significantly even with modest sale growth, in part because of stock buybacks .</p>\n<p><b>Wall Street's opinion</b></p>\n<p>Here's a summary of opinion for this group of meme stocks among Wall Street analysts:</p>\n<p><img src=\"https://static.tigerbbs.com/c2dfa61b27c34a6c17f5b4d2119126f9\" tg-width=\"1259\" tg-height=\"373\"></p>\n<p>So the Wall Street analysts have the most love for ContextLogic, with 82% \"buy\" or equivalent ratings. Second place goes to Clean Energy Fuels. For that company, the timing, in a year of economic and fuel-price recovery, not to mention the desire among many investors to help lower carbon emissions, seems perfect.</p>\n<p>Wall Street is skeptical of Palantir and Clover Health, but it would seem for different reasons, as Palantir already has a history of rapid sales 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>We put 6 more meme stocks' numbers to the test and the differences are telling</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\">\nWe put 6 more meme stocks' numbers to the test and the differences are telling\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-11 10:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n <b>Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.</b>\n</blockquote>\n<p>The world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.</p>\n<p>After last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows is the same treatment for six more.</p>\n<p>(The BANG stocks are BlackBerry Ltd. (BB.T), AMC Entertainment Holdings Inc <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, Nokia Corp. (NOKIA.HE) and GameStop Corp. <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>.)</p>\n<p><b>Short squeezes and meme stocks</b></p>\n<p>Traders looking to group together on social media to make quick killings by pushing up share prices of companies at early stages or those going through difficult times have been setting up short squeezes.</p>\n<p>Professional investors have traditionally short-sold shares of companies they believe will perform worse than most other investors or analysts expect. Shorting means borrowing a company's shares and selling them immediately, in the hope of buying them back at a lower price, returning them to the lender and pocketing the difference. If you simply buy a stock hoping it will go up, all you risk is the money you invest. You might get wiped out. But if you short a stock, your risk potential is unlimited. You never know how high the price might rise if you have gotten the trade wrong.</p>\n<p>\"Covering\" a short position is when you buy back the shares to return them to the investor who lent them to you. You are hoping to cover at a lower price than you sold the shares for, to make a profit.</p>\n<p>To have a short position, you need to have a margin account with a broker -- an account that lets you borrow to invest or trade. Because of the risk in taking a short position, if the share price goes against you (higher), your broker will keep increasing its collateral requirements. If you run out of cash as the price keeps rising, you will be forced to cover at a loss. That type of action among a large group of short-sellers pushes the price higher in a spiral -- a short squeeze.</p>\n<p><b>Six more meme stocks</b></p>\n<p>The action changes daily. On June 9, for example, shares of Clover Health Investments Corp. <a href=\"https://laohu8.com/S/CLOV\">$(CLOV)$</a> fell 24% after rising 86% the day before. The stock is 36.6% sold short, according to FactSet.</p>\n<p>Read:Newest meme stock darling Clover Health is popping. Is the SEC watching?</p>\n<p>Here are the six additional meme stocks, following our initial group of eight , sorted by market capitalization as of the close on June 9:</p>\n<p><img src=\"https://static.tigerbbs.com/45b4fabbee4e18ee1b473200ab3a7c4b\" tg-width=\"1260\" tg-height=\"300\"></p>\n<p><a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a> (PLTR) provides a software platform used by government defense and intelligence agencies. It is the largest company on the list by market cap, but not by revenue, as you can see below. A year-to-date chart of its price performance shows how wild the meme-stock action can be:</p>\n<p><img src=\"https://static.tigerbbs.com/1d9a8e2dfc61b0e4ff70a8630193cecb\" tg-width=\"1259\" tg-height=\"1038\"></p>\n<p>Palantir's stock was up 3% for 2021 through June 9, but its market cap had increased by 26% because the company had been raising cash by selling additional shares to investors. The company's following as a meme stock seems to spring more from its growth prospects than from short interest, which peaked at 8.5% of shares available for sale, according to FactSet.</p>\n<p>Wendy's Co. <a href=\"https://laohu8.com/S/WEN\">$(WEN)$</a> is another meme stock whose addition to the group may be a bit confusing, as the stock isn't heavily shorted and the company is stable. Thornton McEnery dug into the action on June 8, which may have included confusion over Wendy's ticker symbol , when the stock rose 26%.</p>\n<p><a href=\"https://laohu8.com/S/WISH\">ContextLogic Inc.</a> (WISH) is <a href=\"https://laohu8.com/S/AONE\">one</a> of two stocks on the new list that have fallen this year. The mobile e-commerce company's stock opened below its initial public offering price before the IPO.</p>\n<p><b>Short interest</b></p>\n<p>Keeping the group in the same order, here are levels of short interest as percentages of available shares and in dollars:</p>\n<p><img src=\"https://static.tigerbbs.com/d0875b54168c760b950d250308eb5efd\" tg-width=\"1260\" tg-height=\"390\"></p>\n<p>FactSet's data on short positions as a percentage of shares outstanding is updated twice a month. The data was updated overnight between June 9 and 10. The second update takes place around the 25th day of the month.</p>\n<p>Clover is the most heavily shorted stock on the list. Brad Lamensdorf, CEO of ActiveAlts in Westport, Conn., who runs long and short investment strategies, said previously that a short percentage \"over 30% to 40% is outrageously high.\" (Lamensdorf co-manages the AdvisorShares <a href=\"https://laohu8.com/S/HDGE\">Ranger Equity Bear ETF</a> (HDGE), which is meant to be used as a hedging tool.)</p>\n<p>A high percentage of shares sold short makes a stock especially dangerous for the short-sellers, because it can increase the intensity of any short squeeze.</p>\n<p>We have shown the short interest as a percentage of market cap in order to provide context. Tesla Inc. <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> is an excellent example to provide more context, because the company has such a large market capitalization of $576.8 billion. Only 5.16% of the shares are sold short, but that comes to $29.8 billion in short interest -- the most (in dollars) for any stock in the S&amp;P 500. Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> ranks second for dollars of short interest in the benchmark index, with 1.09% of shares sold short, which comes to $18.1 billion in short interest for a company with a market cap of $1.66 trillion.</p>\n<p><a href=\"https://laohu8.com/S/GOEV\">Canoo Inc.</a> (GOEV) is the second-most heavily shorted stock listed above, at 29.5%. The electric-vehicle maker was formed on Dec. 21 through the merger of Canoo Holdings Ltd. and Hennessy Capital Acquisition Corp. IV, a special purpose acquisition company, or SPAC. Canoo expects to produce its first vehicle in mid-2022 in limited quantities, with \"serial production launching in 2023,\" according to its 10-K report filed on March 31.</p>\n<p><a href=\"https://laohu8.com/S/CLNE\">Clean Energy Fuels Corp</a>. <a href=\"https://laohu8.com/S/CLNE.AU\">$(CLNE.AU)$</a> provides natural gas for use as an alternative to gasoline or diesel for fleets of vehicles. The stock is 6.58% sold-short, but has had a good run this year as the energy sector has recovered.</p>\n<p><b>Fundamentals</b></p>\n<p>We'll look back at sales results for this group of six meme stocks and then look ahead at sales estimates through 2023.</p>\n<ul>\n <li><b>Looking back</b></li>\n</ul>\n<p>First, here's a comparison of annual sales, in millions of dollars for the past five reported fiscal years (where available):</p>\n<p><img src=\"https://static.tigerbbs.com/bcc4fbd762406f0684e991d289b8b760\" tg-width=\"1260\" tg-height=\"392\"></p>\n<p>You can see clear growth paths in recent years for Palantir, Wendy's and ContextLogic, while Clean Energy Fuels had understandable challenges from lower natural gas prices in 2020.</p>\n<p>Clover was incorporated on Oct. 18, 2019. It hasn't yet reported annual revenue. For the first quarter, the company reported $200.3 million in sales, up from $165.5 million in the first quarter of 2020. Clover merged with <a href=\"https://laohu8.com/S/IPOC.U\">Social Capital Hedosophia Holdings Corp. III</a> (a SPAC) on Jan. 7.</p>\n<ul>\n <li><b>Looking ahead -- sales</b></li>\n</ul>\n<p>Starting from a baseline of calendar 2021, here are sales estimates going out through 2023 among Wall Street analysts polled by FactSet:</p>\n<p><img src=\"https://static.tigerbbs.com/37c11916067fb3829caff57a89cf17f0\" tg-width=\"1260\" tg-height=\"380\"></p>\n<p>Double-digit or better sales growth is expected for all of the companies over the next two years except Wendy's. Price-to-sale ratios, based on closing share prices on June 9 and the 2023 estimates, are included. In comparison, the S&amp;P 500 trades for 2.5 times its weighted aggregate consensus sales estimate for 2023.</p>\n<p><b>Looking ahead -- earnings</b></p>\n<p>Here are earnings-per-share estimates going out to 2023:</p>\n<p><img src=\"https://static.tigerbbs.com/4cf06aa00f9303dda82b1c3f8cf34c21\" tg-width=\"1260\" tg-height=\"500\"></p>\n<p>You might not have expected the EPS projections to be particularly useful, but they underscore how high these stocks are trading. The S&amp;P 500 trades for 18.4 times its consensus EPS estimate for 2023.</p>\n<p>The estimates show expected improvement for Palantir, if it manages to maintain its rapid sales growth. Wendy's is expected to improve EPS significantly even with modest sale growth, in part because of stock buybacks .</p>\n<p><b>Wall Street's opinion</b></p>\n<p>Here's a summary of opinion for this group of meme stocks among Wall Street analysts:</p>\n<p><img src=\"https://static.tigerbbs.com/c2dfa61b27c34a6c17f5b4d2119126f9\" tg-width=\"1259\" tg-height=\"373\"></p>\n<p>So the Wall Street analysts have the most love for ContextLogic, with 82% \"buy\" or equivalent ratings. Second place goes to Clean Energy Fuels. For that company, the timing, in a year of economic and fuel-price recovery, not to mention the desire among many investors to help lower carbon emissions, seems perfect.</p>\n<p>Wall Street is skeptical of Palantir and Clover Health, but it would seem for different reasons, as Palantir already has a history of rapid sales growth.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WEN":"温蒂汉堡","CLNE":"Clean Energy Fuels Corp","PLTR":"Palantir Technologies Inc.","CLOV":"Clover Health Corp"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142022769","content_text":"Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.\n\nThe world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.\nAfter last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows is the same treatment for six more.\n(The BANG stocks are BlackBerry Ltd. (BB.T), AMC Entertainment Holdings Inc $(AMC)$, Nokia Corp. (NOKIA.HE) and GameStop Corp. $(GME)$.)\nShort squeezes and meme stocks\nTraders looking to group together on social media to make quick killings by pushing up share prices of companies at early stages or those going through difficult times have been setting up short squeezes.\nProfessional investors have traditionally short-sold shares of companies they believe will perform worse than most other investors or analysts expect. Shorting means borrowing a company's shares and selling them immediately, in the hope of buying them back at a lower price, returning them to the lender and pocketing the difference. If you simply buy a stock hoping it will go up, all you risk is the money you invest. You might get wiped out. But if you short a stock, your risk potential is unlimited. You never know how high the price might rise if you have gotten the trade wrong.\n\"Covering\" a short position is when you buy back the shares to return them to the investor who lent them to you. You are hoping to cover at a lower price than you sold the shares for, to make a profit.\nTo have a short position, you need to have a margin account with a broker -- an account that lets you borrow to invest or trade. Because of the risk in taking a short position, if the share price goes against you (higher), your broker will keep increasing its collateral requirements. If you run out of cash as the price keeps rising, you will be forced to cover at a loss. That type of action among a large group of short-sellers pushes the price higher in a spiral -- a short squeeze.\nSix more meme stocks\nThe action changes daily. On June 9, for example, shares of Clover Health Investments Corp. $(CLOV)$ fell 24% after rising 86% the day before. The stock is 36.6% sold short, according to FactSet.\nRead:Newest meme stock darling Clover Health is popping. Is the SEC watching?\nHere are the six additional meme stocks, following our initial group of eight , sorted by market capitalization as of the close on June 9:\n\nPalantir Technologies Inc. (PLTR) provides a software platform used by government defense and intelligence agencies. It is the largest company on the list by market cap, but not by revenue, as you can see below. A year-to-date chart of its price performance shows how wild the meme-stock action can be:\n\nPalantir's stock was up 3% for 2021 through June 9, but its market cap had increased by 26% because the company had been raising cash by selling additional shares to investors. The company's following as a meme stock seems to spring more from its growth prospects than from short interest, which peaked at 8.5% of shares available for sale, according to FactSet.\nWendy's Co. $(WEN)$ is another meme stock whose addition to the group may be a bit confusing, as the stock isn't heavily shorted and the company is stable. Thornton McEnery dug into the action on June 8, which may have included confusion over Wendy's ticker symbol , when the stock rose 26%.\nContextLogic Inc. (WISH) is one of two stocks on the new list that have fallen this year. The mobile e-commerce company's stock opened below its initial public offering price before the IPO.\nShort interest\nKeeping the group in the same order, here are levels of short interest as percentages of available shares and in dollars:\n\nFactSet's data on short positions as a percentage of shares outstanding is updated twice a month. The data was updated overnight between June 9 and 10. The second update takes place around the 25th day of the month.\nClover is the most heavily shorted stock on the list. Brad Lamensdorf, CEO of ActiveAlts in Westport, Conn., who runs long and short investment strategies, said previously that a short percentage \"over 30% to 40% is outrageously high.\" (Lamensdorf co-manages the AdvisorShares Ranger Equity Bear ETF (HDGE), which is meant to be used as a hedging tool.)\nA high percentage of shares sold short makes a stock especially dangerous for the short-sellers, because it can increase the intensity of any short squeeze.\nWe have shown the short interest as a percentage of market cap in order to provide context. Tesla Inc. $(TSLA)$ is an excellent example to provide more context, because the company has such a large market capitalization of $576.8 billion. Only 5.16% of the shares are sold short, but that comes to $29.8 billion in short interest -- the most (in dollars) for any stock in the S&P 500. Amazon.com Inc. $(AMZN)$ ranks second for dollars of short interest in the benchmark index, with 1.09% of shares sold short, which comes to $18.1 billion in short interest for a company with a market cap of $1.66 trillion.\nCanoo Inc. (GOEV) is the second-most heavily shorted stock listed above, at 29.5%. The electric-vehicle maker was formed on Dec. 21 through the merger of Canoo Holdings Ltd. and Hennessy Capital Acquisition Corp. IV, a special purpose acquisition company, or SPAC. Canoo expects to produce its first vehicle in mid-2022 in limited quantities, with \"serial production launching in 2023,\" according to its 10-K report filed on March 31.\nClean Energy Fuels Corp. $(CLNE.AU)$ provides natural gas for use as an alternative to gasoline or diesel for fleets of vehicles. The stock is 6.58% sold-short, but has had a good run this year as the energy sector has recovered.\nFundamentals\nWe'll look back at sales results for this group of six meme stocks and then look ahead at sales estimates through 2023.\n\nLooking back\n\nFirst, here's a comparison of annual sales, in millions of dollars for the past five reported fiscal years (where available):\n\nYou can see clear growth paths in recent years for Palantir, Wendy's and ContextLogic, while Clean Energy Fuels had understandable challenges from lower natural gas prices in 2020.\nClover was incorporated on Oct. 18, 2019. It hasn't yet reported annual revenue. For the first quarter, the company reported $200.3 million in sales, up from $165.5 million in the first quarter of 2020. Clover merged with Social Capital Hedosophia Holdings Corp. III (a SPAC) on Jan. 7.\n\nLooking ahead -- sales\n\nStarting from a baseline of calendar 2021, here are sales estimates going out through 2023 among Wall Street analysts polled by FactSet:\n\nDouble-digit or better sales growth is expected for all of the companies over the next two years except Wendy's. Price-to-sale ratios, based on closing share prices on June 9 and the 2023 estimates, are included. In comparison, the S&P 500 trades for 2.5 times its weighted aggregate consensus sales estimate for 2023.\nLooking ahead -- earnings\nHere are earnings-per-share estimates going out to 2023:\n\nYou might not have expected the EPS projections to be particularly useful, but they underscore how high these stocks are trading. The S&P 500 trades for 18.4 times its consensus EPS estimate for 2023.\nThe estimates show expected improvement for Palantir, if it manages to maintain its rapid sales growth. Wendy's is expected to improve EPS significantly even with modest sale growth, in part because of stock buybacks .\nWall Street's opinion\nHere's a summary of opinion for this group of meme stocks among Wall Street analysts:\n\nSo the Wall Street analysts have the most love for ContextLogic, with 82% \"buy\" or equivalent ratings. Second place goes to Clean Energy Fuels. For that company, the timing, in a year of economic and fuel-price recovery, not to mention the desire among many investors to help lower carbon emissions, seems perfect.\nWall Street is skeptical of Palantir and Clover Health, but it would seem for different reasons, as Palantir already has a history of rapid sales growth.","news_type":1},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":118154925,"gmtCreate":1622725277967,"gmtModify":1704189792278,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Up up down down&nbsp;","listText":"Up up down down&nbsp;","text":"Up up down down","images":[{"img":"https://static.tigerbbs.com/76ba19224d582c3e839a061dd1986322","width":"1176","height":"2091"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/118154925","isVote":1,"tweetType":1,"viewCount":408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":370663812,"gmtCreate":1618581403836,"gmtModify":1704713054895,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/ZNGA\">$Zynga(ZNGA)$</a>&nbsp;game game game&nbsp;","listText":"<a href=\"https://laohu8.com/S/ZNGA\">$Zynga(ZNGA)$</a>&nbsp;game game game&nbsp;","text":"$Zynga(ZNGA)$ game game game","images":[{"img":"https://static.tigerbbs.com/cb7b669540d19aa5935289a02f409820","width":"1176","height":"2091"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/370663812","isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":347850588,"gmtCreate":1618487535744,"gmtModify":1704711575056,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/DAQW.SI\">$CapLand 5xLongSG230420(DAQW.SI)$</a>May Iknow if the share distribute dividend, how dcl price impacted?&nbsp;","listText":"<a href=\"https://laohu8.com/S/DAQW.SI\">$CapLand 5xLongSG230420(DAQW.SI)$</a>May Iknow if the share distribute dividend, how dcl price impacted?&nbsp;","text":"$CapLand 5xLongSG230420(DAQW.SI)$May Iknow if the share distribute dividend, how dcl price impacted?","images":[{"img":"https://static.tigerbbs.com/bbfe33ef4cdf6f0a814b6dbd50852833","width":"1176","height":"2091"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/347850588","isVote":1,"tweetType":1,"viewCount":518,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":357663101,"gmtCreate":1617267992003,"gmtModify":1704698052355,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Cool&nbsp;","listText":"Cool&nbsp;","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/357663101","repostId":"1195126935","repostType":4,"repost":{"id":"1195126935","pubTimestamp":1617266642,"share":"https://www.laohu8.com/m/news/1195126935?lang=&edition=full","pubTime":"2021-04-01 16:44","market":"hk","language":"en","title":"Hong Kong stocks surge nearly 2%, leading the other Asia-Pacific markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1195126935","media":"CNBC","summary":"SINGAPORE — Shares in Asia-Pacific were higher on Thursday as the second quarter kicked off with sev","content":"<div>\n<p>SINGAPORE — Shares in Asia-Pacific were higher on Thursday as the second quarter kicked off with several economic data releases out across the region.\nHong Kong'sHang Seng indexled gains among the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/01/asia-markets-bank-of-japans-tankan-survey-china-economy-currencies-oil.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hong Kong stocks surge nearly 2%, leading the other Asia-Pacific markets</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\">\nHong Kong stocks surge nearly 2%, leading the other Asia-Pacific markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-01 16:44 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/01/asia-markets-bank-of-japans-tankan-survey-china-economy-currencies-oil.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE — Shares in Asia-Pacific were higher on Thursday as the second quarter kicked off with several economic data releases out across the region.\nHong Kong'sHang Seng indexled gains among the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/01/asia-markets-bank-of-japans-tankan-survey-china-economy-currencies-oil.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSI":"恒生指数"},"source_url":"https://www.cnbc.com/2021/04/01/asia-markets-bank-of-japans-tankan-survey-china-economy-currencies-oil.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1195126935","content_text":"SINGAPORE — Shares in Asia-Pacific were higher on Thursday as the second quarter kicked off with several economic data releases out across the region.\nHong Kong'sHang Seng indexled gains among the region's major markets as it rose 1.97% to close at 28,938.74. Scores offirms in Hong Kong were suspended from tradingon Thursday, as multiple companies cited a delay in the publication of their annual results as a reason behind the halt.\nJapan'sNikkei 225rose 0.72% to close at 29,388.87 while the Topix index gained 0.19% to finish the trading day at 1,957.64. South Korea'sKospiclosed 0.85% higher at 3,087.40.\nMainland Chinese shares advanced on the day as theShanghai compositegained 0.71% to 3,466.33 while theShenzhen componentclimbed 1.459% to 13,979.69.\nShares in Australia edged higher as theS&P/ASX 200gained 0.56% to close at 6,828.70.\nMSCI's broadest index of Asia-Pacific shares outside Japan jumped 1.26%.\nIn corporate news, shares ofTaiwan Semiconductor Manufacturing Companyjumped 2.56% on Thursday. The firm announced Thursday plans to invest $100 billion over the next three years to increase capacity at its plants,according to Reuters.\nEconomic data\nA slew of economic data releases were out on Thursday. The headline large manufacturers index in the Bank of Japan's quarterlytankan business sentiment surveycame in at 5, against expectations of a 0 reading in a Reuters poll.\nAustralia's retail sales declined 0.8% in February on a month-on-month, seasonally adjusted basis. That compared against expectations for a 1.1% decline in a Reuters poll.\nThe country also posted a trade surplus of 7.529 billion Australian dollars (about $5.71 billion) for February, as compared with expectations for a trade surplus of 9.7 billion Australian dollars, according to Reuters.\nA private survey released Thursday showed slowing growth of Chinese factory activity in March. The Caixin/Markit manufacturing Purchasing Managers’ Index (PMI) for March came in at 50.6, compared to February’s reading of 50.9.\nPMI readings above 50 signify expansion while those below that level represent contraction. PMI readings are sequential and represent month-on-month expansion or contraction.\nIn comparison, China’s official manufacturing PMI released Wednesday came in at 51.9, higher than February’s reading of 50.6.\nThe official PMI survey typically focuses a large proportion of big businesses and state-owned companies, while the private Caixin/Markit survey polls a bigger mix of small- and medium-sized firms.\n\n\n\nTICKER\nCOMPANY\nNAME\nPRICE\nCHANGE\n%CHANGE\n\n\n\n\n.N225\nNikkei 225 Index\nNIKKEI\n29388.87\n210.07\n0.72\n\n\n.HSI\nHang Seng Index\nHSI\n28938.74\n560.39\n1.97\n\n\n.AXJO\nS&P/ASX 200\nASX 200\n6828.70\n38.00\n0.56\n\n\n.SSEC\nShanghai\nSHANGHAI\n3466.33\n24.42\n0.71\n\n\n.KS11\nKOSPI Index\nKOSPI\n3087.40\n25.98\n0.85\n\n\n.FTFCNBCA\nCNBC 100 ASIA IDX\nCNBC 100\n11038.10\n185.41\n1.71\n\n\n\nOvernight stateside, the S&P 500 closed 0.36% higher at 3,972.89 while the Nasdaq Composite jumped 1.54% to finish its trading day at 13,246.87. The Dow Jones Industrial Average, on the other hand, dipped 85.41 points to close at 32,981.55.\nFor the quarter, the Dow and S&P 500 gained 7.8% and 5.8%, respectively. The Nasdaq was the relative underperformer as tech stocks are particularly sensitive to rising rates due to their dependence on borrowing cheap money to invest in their future growth. Still, it gained 2.8% for the quarter.\nMeanwhile, U.S. PresidentJoe Bidenannounced amore than $2 trillion infrastructure package on Wednesday. The plan’s goals include the revitalization of America’s transportation infrastructure as well as manufacturing.\nOil prices jump\nOil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 2% to $63.99 per barrel. U.S. crude futures also gained 2.11% to $60.41 per barrel.\nThe U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.161 following an earlier high of 93.336.\nThe Japanese yen traded at 110.68 per dollar, still weaker than levels below 109.6 seen earlier this week. The Australian dollar changed hands at $0.7567, having slipped from above $0.765 earlier in the week.","news_type":1},"isVote":1,"tweetType":1,"viewCount":359,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":356713311,"gmtCreate":1616814493033,"gmtModify":1704799345205,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Keep on buying&nbsp;","listText":"Keep on buying&nbsp;","text":"Keep on buying","images":[{"img":"https://static.tigerbbs.com/c4ac837b63ee0ad261bfa21f107afd59","width":"1176","height":"2091"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/356713311","isVote":1,"tweetType":1,"viewCount":528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":356558356,"gmtCreate":1616801038275,"gmtModify":1704799132063,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Oh oh","listText":"Oh oh","text":"Oh oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/356558356","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zhihu Technology fall on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358693646,"gmtCreate":1616682988985,"gmtModify":1704797430398,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Why cannot trade??&nbsp;","listText":"Why cannot trade??&nbsp;","text":"Why cannot trade??","images":[{"img":"https://static.tigerbbs.com/a7ab6e5f215d25610de8fbd501e20765","width":"1176","height":"3021"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/358693646","isVote":1,"tweetType":1,"viewCount":179,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"hots":[{"id":192288460398728,"gmtCreate":1687975779284,"gmtModify":1687975782486,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DNA\">$Ginkgo Bioworks Holdings Inc.(DNA)$ &nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/DNA\">$Ginkgo Bioworks Holdings Inc.(DNA)$ &nbsp;</a>","text":"$Ginkgo Bioworks Holdings Inc.(DNA)$","images":[{"img":"https://community-static.tradeup.com/news/af4a7abb2a6b2d2f27512b759190138a","width":"882","height":"1608"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/192288460398728","isVote":1,"tweetType":1,"viewCount":387,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":224162587857024,"gmtCreate":1695764771047,"gmtModify":1695764773548,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/HST.SI\">$利安-华侨证券恒生科技ETF(S$)(HST.SI)$ &nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/HST.SI\">$利安-华侨证券恒生科技ETF(S$)(HST.SI)$ &nbsp;</a>","text":"$利安-华侨证券恒生科技ETF(S$)(HST.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/224162587857024","isVote":1,"tweetType":1,"viewCount":401,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":181728547,"gmtCreate":1623412834989,"gmtModify":1704202908101,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"meme？","listText":"meme？","text":"meme？","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/181728547","repostId":"2142022769","repostType":4,"repost":{"id":"2142022769","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1623380100,"share":"https://www.laohu8.com/m/news/2142022769?lang=&edition=full","pubTime":"2021-06-11 10:55","market":"us","language":"en","title":"We put 6 more meme stocks' numbers to the test and the differences are telling","url":"https://stock-news.laohu8.com/highlight/detail?id=2142022769","media":"Dow Jones","summary":"Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.The world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.After last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows i","content":"<blockquote>\n <b>Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.</b>\n</blockquote>\n<p>The world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.</p>\n<p>After last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows is the same treatment for six more.</p>\n<p>(The BANG stocks are BlackBerry Ltd. (BB.T), AMC Entertainment Holdings Inc <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, Nokia Corp. (NOKIA.HE) and GameStop Corp. <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>.)</p>\n<p><b>Short squeezes and meme stocks</b></p>\n<p>Traders looking to group together on social media to make quick killings by pushing up share prices of companies at early stages or those going through difficult times have been setting up short squeezes.</p>\n<p>Professional investors have traditionally short-sold shares of companies they believe will perform worse than most other investors or analysts expect. Shorting means borrowing a company's shares and selling them immediately, in the hope of buying them back at a lower price, returning them to the lender and pocketing the difference. If you simply buy a stock hoping it will go up, all you risk is the money you invest. You might get wiped out. But if you short a stock, your risk potential is unlimited. You never know how high the price might rise if you have gotten the trade wrong.</p>\n<p>\"Covering\" a short position is when you buy back the shares to return them to the investor who lent them to you. You are hoping to cover at a lower price than you sold the shares for, to make a profit.</p>\n<p>To have a short position, you need to have a margin account with a broker -- an account that lets you borrow to invest or trade. Because of the risk in taking a short position, if the share price goes against you (higher), your broker will keep increasing its collateral requirements. If you run out of cash as the price keeps rising, you will be forced to cover at a loss. That type of action among a large group of short-sellers pushes the price higher in a spiral -- a short squeeze.</p>\n<p><b>Six more meme stocks</b></p>\n<p>The action changes daily. On June 9, for example, shares of Clover Health Investments Corp. <a href=\"https://laohu8.com/S/CLOV\">$(CLOV)$</a> fell 24% after rising 86% the day before. The stock is 36.6% sold short, according to FactSet.</p>\n<p>Read:Newest meme stock darling Clover Health is popping. Is the SEC watching?</p>\n<p>Here are the six additional meme stocks, following our initial group of eight , sorted by market capitalization as of the close on June 9:</p>\n<p><img src=\"https://static.tigerbbs.com/45b4fabbee4e18ee1b473200ab3a7c4b\" tg-width=\"1260\" tg-height=\"300\"></p>\n<p><a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a> (PLTR) provides a software platform used by government defense and intelligence agencies. It is the largest company on the list by market cap, but not by revenue, as you can see below. A year-to-date chart of its price performance shows how wild the meme-stock action can be:</p>\n<p><img src=\"https://static.tigerbbs.com/1d9a8e2dfc61b0e4ff70a8630193cecb\" tg-width=\"1259\" tg-height=\"1038\"></p>\n<p>Palantir's stock was up 3% for 2021 through June 9, but its market cap had increased by 26% because the company had been raising cash by selling additional shares to investors. The company's following as a meme stock seems to spring more from its growth prospects than from short interest, which peaked at 8.5% of shares available for sale, according to FactSet.</p>\n<p>Wendy's Co. <a href=\"https://laohu8.com/S/WEN\">$(WEN)$</a> is another meme stock whose addition to the group may be a bit confusing, as the stock isn't heavily shorted and the company is stable. Thornton McEnery dug into the action on June 8, which may have included confusion over Wendy's ticker symbol , when the stock rose 26%.</p>\n<p><a href=\"https://laohu8.com/S/WISH\">ContextLogic Inc.</a> (WISH) is <a href=\"https://laohu8.com/S/AONE\">one</a> of two stocks on the new list that have fallen this year. The mobile e-commerce company's stock opened below its initial public offering price before the IPO.</p>\n<p><b>Short interest</b></p>\n<p>Keeping the group in the same order, here are levels of short interest as percentages of available shares and in dollars:</p>\n<p><img src=\"https://static.tigerbbs.com/d0875b54168c760b950d250308eb5efd\" tg-width=\"1260\" tg-height=\"390\"></p>\n<p>FactSet's data on short positions as a percentage of shares outstanding is updated twice a month. The data was updated overnight between June 9 and 10. The second update takes place around the 25th day of the month.</p>\n<p>Clover is the most heavily shorted stock on the list. Brad Lamensdorf, CEO of ActiveAlts in Westport, Conn., who runs long and short investment strategies, said previously that a short percentage \"over 30% to 40% is outrageously high.\" (Lamensdorf co-manages the AdvisorShares <a href=\"https://laohu8.com/S/HDGE\">Ranger Equity Bear ETF</a> (HDGE), which is meant to be used as a hedging tool.)</p>\n<p>A high percentage of shares sold short makes a stock especially dangerous for the short-sellers, because it can increase the intensity of any short squeeze.</p>\n<p>We have shown the short interest as a percentage of market cap in order to provide context. Tesla Inc. <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> is an excellent example to provide more context, because the company has such a large market capitalization of $576.8 billion. Only 5.16% of the shares are sold short, but that comes to $29.8 billion in short interest -- the most (in dollars) for any stock in the S&amp;P 500. Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> ranks second for dollars of short interest in the benchmark index, with 1.09% of shares sold short, which comes to $18.1 billion in short interest for a company with a market cap of $1.66 trillion.</p>\n<p><a href=\"https://laohu8.com/S/GOEV\">Canoo Inc.</a> (GOEV) is the second-most heavily shorted stock listed above, at 29.5%. The electric-vehicle maker was formed on Dec. 21 through the merger of Canoo Holdings Ltd. and Hennessy Capital Acquisition Corp. IV, a special purpose acquisition company, or SPAC. Canoo expects to produce its first vehicle in mid-2022 in limited quantities, with \"serial production launching in 2023,\" according to its 10-K report filed on March 31.</p>\n<p><a href=\"https://laohu8.com/S/CLNE\">Clean Energy Fuels Corp</a>. <a href=\"https://laohu8.com/S/CLNE.AU\">$(CLNE.AU)$</a> provides natural gas for use as an alternative to gasoline or diesel for fleets of vehicles. The stock is 6.58% sold-short, but has had a good run this year as the energy sector has recovered.</p>\n<p><b>Fundamentals</b></p>\n<p>We'll look back at sales results for this group of six meme stocks and then look ahead at sales estimates through 2023.</p>\n<ul>\n <li><b>Looking back</b></li>\n</ul>\n<p>First, here's a comparison of annual sales, in millions of dollars for the past five reported fiscal years (where available):</p>\n<p><img src=\"https://static.tigerbbs.com/bcc4fbd762406f0684e991d289b8b760\" tg-width=\"1260\" tg-height=\"392\"></p>\n<p>You can see clear growth paths in recent years for Palantir, Wendy's and ContextLogic, while Clean Energy Fuels had understandable challenges from lower natural gas prices in 2020.</p>\n<p>Clover was incorporated on Oct. 18, 2019. It hasn't yet reported annual revenue. For the first quarter, the company reported $200.3 million in sales, up from $165.5 million in the first quarter of 2020. Clover merged with <a href=\"https://laohu8.com/S/IPOC.U\">Social Capital Hedosophia Holdings Corp. III</a> (a SPAC) on Jan. 7.</p>\n<ul>\n <li><b>Looking ahead -- sales</b></li>\n</ul>\n<p>Starting from a baseline of calendar 2021, here are sales estimates going out through 2023 among Wall Street analysts polled by FactSet:</p>\n<p><img src=\"https://static.tigerbbs.com/37c11916067fb3829caff57a89cf17f0\" tg-width=\"1260\" tg-height=\"380\"></p>\n<p>Double-digit or better sales growth is expected for all of the companies over the next two years except Wendy's. Price-to-sale ratios, based on closing share prices on June 9 and the 2023 estimates, are included. In comparison, the S&amp;P 500 trades for 2.5 times its weighted aggregate consensus sales estimate for 2023.</p>\n<p><b>Looking ahead -- earnings</b></p>\n<p>Here are earnings-per-share estimates going out to 2023:</p>\n<p><img src=\"https://static.tigerbbs.com/4cf06aa00f9303dda82b1c3f8cf34c21\" tg-width=\"1260\" tg-height=\"500\"></p>\n<p>You might not have expected the EPS projections to be particularly useful, but they underscore how high these stocks are trading. The S&amp;P 500 trades for 18.4 times its consensus EPS estimate for 2023.</p>\n<p>The estimates show expected improvement for Palantir, if it manages to maintain its rapid sales growth. Wendy's is expected to improve EPS significantly even with modest sale growth, in part because of stock buybacks .</p>\n<p><b>Wall Street's opinion</b></p>\n<p>Here's a summary of opinion for this group of meme stocks among Wall Street analysts:</p>\n<p><img src=\"https://static.tigerbbs.com/c2dfa61b27c34a6c17f5b4d2119126f9\" tg-width=\"1259\" tg-height=\"373\"></p>\n<p>So the Wall Street analysts have the most love for ContextLogic, with 82% \"buy\" or equivalent ratings. Second place goes to Clean Energy Fuels. For that company, the timing, in a year of economic and fuel-price recovery, not to mention the desire among many investors to help lower carbon emissions, seems perfect.</p>\n<p>Wall Street is skeptical of Palantir and Clover Health, but it would seem for different reasons, as Palantir already has a history of rapid sales 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>We put 6 more meme stocks' numbers to the test and the differences are telling</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\">\nWe put 6 more meme stocks' numbers to the test and the differences are telling\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2021-06-11 10:55</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<blockquote>\n <b>Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.</b>\n</blockquote>\n<p>The world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.</p>\n<p>After last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows is the same treatment for six more.</p>\n<p>(The BANG stocks are BlackBerry Ltd. (BB.T), AMC Entertainment Holdings Inc <a href=\"https://laohu8.com/S/AMC\">$(AMC)$</a>, Nokia Corp. (NOKIA.HE) and GameStop Corp. <a href=\"https://laohu8.com/S/GME\">$(GME)$</a>.)</p>\n<p><b>Short squeezes and meme stocks</b></p>\n<p>Traders looking to group together on social media to make quick killings by pushing up share prices of companies at early stages or those going through difficult times have been setting up short squeezes.</p>\n<p>Professional investors have traditionally short-sold shares of companies they believe will perform worse than most other investors or analysts expect. Shorting means borrowing a company's shares and selling them immediately, in the hope of buying them back at a lower price, returning them to the lender and pocketing the difference. If you simply buy a stock hoping it will go up, all you risk is the money you invest. You might get wiped out. But if you short a stock, your risk potential is unlimited. You never know how high the price might rise if you have gotten the trade wrong.</p>\n<p>\"Covering\" a short position is when you buy back the shares to return them to the investor who lent them to you. You are hoping to cover at a lower price than you sold the shares for, to make a profit.</p>\n<p>To have a short position, you need to have a margin account with a broker -- an account that lets you borrow to invest or trade. Because of the risk in taking a short position, if the share price goes against you (higher), your broker will keep increasing its collateral requirements. If you run out of cash as the price keeps rising, you will be forced to cover at a loss. That type of action among a large group of short-sellers pushes the price higher in a spiral -- a short squeeze.</p>\n<p><b>Six more meme stocks</b></p>\n<p>The action changes daily. On June 9, for example, shares of Clover Health Investments Corp. <a href=\"https://laohu8.com/S/CLOV\">$(CLOV)$</a> fell 24% after rising 86% the day before. The stock is 36.6% sold short, according to FactSet.</p>\n<p>Read:Newest meme stock darling Clover Health is popping. Is the SEC watching?</p>\n<p>Here are the six additional meme stocks, following our initial group of eight , sorted by market capitalization as of the close on June 9:</p>\n<p><img src=\"https://static.tigerbbs.com/45b4fabbee4e18ee1b473200ab3a7c4b\" tg-width=\"1260\" tg-height=\"300\"></p>\n<p><a href=\"https://laohu8.com/S/PLTR\">Palantir Technologies Inc.</a> (PLTR) provides a software platform used by government defense and intelligence agencies. It is the largest company on the list by market cap, but not by revenue, as you can see below. A year-to-date chart of its price performance shows how wild the meme-stock action can be:</p>\n<p><img src=\"https://static.tigerbbs.com/1d9a8e2dfc61b0e4ff70a8630193cecb\" tg-width=\"1259\" tg-height=\"1038\"></p>\n<p>Palantir's stock was up 3% for 2021 through June 9, but its market cap had increased by 26% because the company had been raising cash by selling additional shares to investors. The company's following as a meme stock seems to spring more from its growth prospects than from short interest, which peaked at 8.5% of shares available for sale, according to FactSet.</p>\n<p>Wendy's Co. <a href=\"https://laohu8.com/S/WEN\">$(WEN)$</a> is another meme stock whose addition to the group may be a bit confusing, as the stock isn't heavily shorted and the company is stable. Thornton McEnery dug into the action on June 8, which may have included confusion over Wendy's ticker symbol , when the stock rose 26%.</p>\n<p><a href=\"https://laohu8.com/S/WISH\">ContextLogic Inc.</a> (WISH) is <a href=\"https://laohu8.com/S/AONE\">one</a> of two stocks on the new list that have fallen this year. The mobile e-commerce company's stock opened below its initial public offering price before the IPO.</p>\n<p><b>Short interest</b></p>\n<p>Keeping the group in the same order, here are levels of short interest as percentages of available shares and in dollars:</p>\n<p><img src=\"https://static.tigerbbs.com/d0875b54168c760b950d250308eb5efd\" tg-width=\"1260\" tg-height=\"390\"></p>\n<p>FactSet's data on short positions as a percentage of shares outstanding is updated twice a month. The data was updated overnight between June 9 and 10. The second update takes place around the 25th day of the month.</p>\n<p>Clover is the most heavily shorted stock on the list. Brad Lamensdorf, CEO of ActiveAlts in Westport, Conn., who runs long and short investment strategies, said previously that a short percentage \"over 30% to 40% is outrageously high.\" (Lamensdorf co-manages the AdvisorShares <a href=\"https://laohu8.com/S/HDGE\">Ranger Equity Bear ETF</a> (HDGE), which is meant to be used as a hedging tool.)</p>\n<p>A high percentage of shares sold short makes a stock especially dangerous for the short-sellers, because it can increase the intensity of any short squeeze.</p>\n<p>We have shown the short interest as a percentage of market cap in order to provide context. Tesla Inc. <a href=\"https://laohu8.com/S/TSLA\">$(TSLA)$</a> is an excellent example to provide more context, because the company has such a large market capitalization of $576.8 billion. Only 5.16% of the shares are sold short, but that comes to $29.8 billion in short interest -- the most (in dollars) for any stock in the S&amp;P 500. Amazon.com Inc. <a href=\"https://laohu8.com/S/AMZN\">$(AMZN)$</a> ranks second for dollars of short interest in the benchmark index, with 1.09% of shares sold short, which comes to $18.1 billion in short interest for a company with a market cap of $1.66 trillion.</p>\n<p><a href=\"https://laohu8.com/S/GOEV\">Canoo Inc.</a> (GOEV) is the second-most heavily shorted stock listed above, at 29.5%. The electric-vehicle maker was formed on Dec. 21 through the merger of Canoo Holdings Ltd. and Hennessy Capital Acquisition Corp. IV, a special purpose acquisition company, or SPAC. Canoo expects to produce its first vehicle in mid-2022 in limited quantities, with \"serial production launching in 2023,\" according to its 10-K report filed on March 31.</p>\n<p><a href=\"https://laohu8.com/S/CLNE\">Clean Energy Fuels Corp</a>. <a href=\"https://laohu8.com/S/CLNE.AU\">$(CLNE.AU)$</a> provides natural gas for use as an alternative to gasoline or diesel for fleets of vehicles. The stock is 6.58% sold-short, but has had a good run this year as the energy sector has recovered.</p>\n<p><b>Fundamentals</b></p>\n<p>We'll look back at sales results for this group of six meme stocks and then look ahead at sales estimates through 2023.</p>\n<ul>\n <li><b>Looking back</b></li>\n</ul>\n<p>First, here's a comparison of annual sales, in millions of dollars for the past five reported fiscal years (where available):</p>\n<p><img src=\"https://static.tigerbbs.com/bcc4fbd762406f0684e991d289b8b760\" tg-width=\"1260\" tg-height=\"392\"></p>\n<p>You can see clear growth paths in recent years for Palantir, Wendy's and ContextLogic, while Clean Energy Fuels had understandable challenges from lower natural gas prices in 2020.</p>\n<p>Clover was incorporated on Oct. 18, 2019. It hasn't yet reported annual revenue. For the first quarter, the company reported $200.3 million in sales, up from $165.5 million in the first quarter of 2020. Clover merged with <a href=\"https://laohu8.com/S/IPOC.U\">Social Capital Hedosophia Holdings Corp. III</a> (a SPAC) on Jan. 7.</p>\n<ul>\n <li><b>Looking ahead -- sales</b></li>\n</ul>\n<p>Starting from a baseline of calendar 2021, here are sales estimates going out through 2023 among Wall Street analysts polled by FactSet:</p>\n<p><img src=\"https://static.tigerbbs.com/37c11916067fb3829caff57a89cf17f0\" tg-width=\"1260\" tg-height=\"380\"></p>\n<p>Double-digit or better sales growth is expected for all of the companies over the next two years except Wendy's. Price-to-sale ratios, based on closing share prices on June 9 and the 2023 estimates, are included. In comparison, the S&amp;P 500 trades for 2.5 times its weighted aggregate consensus sales estimate for 2023.</p>\n<p><b>Looking ahead -- earnings</b></p>\n<p>Here are earnings-per-share estimates going out to 2023:</p>\n<p><img src=\"https://static.tigerbbs.com/4cf06aa00f9303dda82b1c3f8cf34c21\" tg-width=\"1260\" tg-height=\"500\"></p>\n<p>You might not have expected the EPS projections to be particularly useful, but they underscore how high these stocks are trading. The S&amp;P 500 trades for 18.4 times its consensus EPS estimate for 2023.</p>\n<p>The estimates show expected improvement for Palantir, if it manages to maintain its rapid sales growth. Wendy's is expected to improve EPS significantly even with modest sale growth, in part because of stock buybacks .</p>\n<p><b>Wall Street's opinion</b></p>\n<p>Here's a summary of opinion for this group of meme stocks among Wall Street analysts:</p>\n<p><img src=\"https://static.tigerbbs.com/c2dfa61b27c34a6c17f5b4d2119126f9\" tg-width=\"1259\" tg-height=\"373\"></p>\n<p>So the Wall Street analysts have the most love for ContextLogic, with 82% \"buy\" or equivalent ratings. Second place goes to Clean Energy Fuels. For that company, the timing, in a year of economic and fuel-price recovery, not to mention the desire among many investors to help lower carbon emissions, seems perfect.</p>\n<p>Wall Street is skeptical of Palantir and Clover Health, but it would seem for different reasons, as Palantir already has a history of rapid sales growth.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WEN":"温蒂汉堡","CLNE":"Clean Energy Fuels Corp","PLTR":"Palantir Technologies Inc.","CLOV":"Clover Health Corp"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2142022769","content_text":"Digging deeper into the the meme stock phenomenon, there are big difference between Palantir, Wendy's, Canoo and other companies.\n\nThe world of meme stocks is changing every day as traders communicating through Reddit's WallStreetBets channel and other social media set their sights on new targets for short squeezes or find other downtrodden companies to bid up in price.\nAfter last week's look at financial results and projections for the four BANG stocks and four other meme companies, what follows is the same treatment for six more.\n(The BANG stocks are BlackBerry Ltd. (BB.T), AMC Entertainment Holdings Inc $(AMC)$, Nokia Corp. (NOKIA.HE) and GameStop Corp. $(GME)$.)\nShort squeezes and meme stocks\nTraders looking to group together on social media to make quick killings by pushing up share prices of companies at early stages or those going through difficult times have been setting up short squeezes.\nProfessional investors have traditionally short-sold shares of companies they believe will perform worse than most other investors or analysts expect. Shorting means borrowing a company's shares and selling them immediately, in the hope of buying them back at a lower price, returning them to the lender and pocketing the difference. If you simply buy a stock hoping it will go up, all you risk is the money you invest. You might get wiped out. But if you short a stock, your risk potential is unlimited. You never know how high the price might rise if you have gotten the trade wrong.\n\"Covering\" a short position is when you buy back the shares to return them to the investor who lent them to you. You are hoping to cover at a lower price than you sold the shares for, to make a profit.\nTo have a short position, you need to have a margin account with a broker -- an account that lets you borrow to invest or trade. Because of the risk in taking a short position, if the share price goes against you (higher), your broker will keep increasing its collateral requirements. If you run out of cash as the price keeps rising, you will be forced to cover at a loss. That type of action among a large group of short-sellers pushes the price higher in a spiral -- a short squeeze.\nSix more meme stocks\nThe action changes daily. On June 9, for example, shares of Clover Health Investments Corp. $(CLOV)$ fell 24% after rising 86% the day before. The stock is 36.6% sold short, according to FactSet.\nRead:Newest meme stock darling Clover Health is popping. Is the SEC watching?\nHere are the six additional meme stocks, following our initial group of eight , sorted by market capitalization as of the close on June 9:\n\nPalantir Technologies Inc. (PLTR) provides a software platform used by government defense and intelligence agencies. It is the largest company on the list by market cap, but not by revenue, as you can see below. A year-to-date chart of its price performance shows how wild the meme-stock action can be:\n\nPalantir's stock was up 3% for 2021 through June 9, but its market cap had increased by 26% because the company had been raising cash by selling additional shares to investors. The company's following as a meme stock seems to spring more from its growth prospects than from short interest, which peaked at 8.5% of shares available for sale, according to FactSet.\nWendy's Co. $(WEN)$ is another meme stock whose addition to the group may be a bit confusing, as the stock isn't heavily shorted and the company is stable. Thornton McEnery dug into the action on June 8, which may have included confusion over Wendy's ticker symbol , when the stock rose 26%.\nContextLogic Inc. (WISH) is one of two stocks on the new list that have fallen this year. The mobile e-commerce company's stock opened below its initial public offering price before the IPO.\nShort interest\nKeeping the group in the same order, here are levels of short interest as percentages of available shares and in dollars:\n\nFactSet's data on short positions as a percentage of shares outstanding is updated twice a month. The data was updated overnight between June 9 and 10. The second update takes place around the 25th day of the month.\nClover is the most heavily shorted stock on the list. Brad Lamensdorf, CEO of ActiveAlts in Westport, Conn., who runs long and short investment strategies, said previously that a short percentage \"over 30% to 40% is outrageously high.\" (Lamensdorf co-manages the AdvisorShares Ranger Equity Bear ETF (HDGE), which is meant to be used as a hedging tool.)\nA high percentage of shares sold short makes a stock especially dangerous for the short-sellers, because it can increase the intensity of any short squeeze.\nWe have shown the short interest as a percentage of market cap in order to provide context. Tesla Inc. $(TSLA)$ is an excellent example to provide more context, because the company has such a large market capitalization of $576.8 billion. Only 5.16% of the shares are sold short, but that comes to $29.8 billion in short interest -- the most (in dollars) for any stock in the S&P 500. Amazon.com Inc. $(AMZN)$ ranks second for dollars of short interest in the benchmark index, with 1.09% of shares sold short, which comes to $18.1 billion in short interest for a company with a market cap of $1.66 trillion.\nCanoo Inc. (GOEV) is the second-most heavily shorted stock listed above, at 29.5%. The electric-vehicle maker was formed on Dec. 21 through the merger of Canoo Holdings Ltd. and Hennessy Capital Acquisition Corp. IV, a special purpose acquisition company, or SPAC. Canoo expects to produce its first vehicle in mid-2022 in limited quantities, with \"serial production launching in 2023,\" according to its 10-K report filed on March 31.\nClean Energy Fuels Corp. $(CLNE.AU)$ provides natural gas for use as an alternative to gasoline or diesel for fleets of vehicles. The stock is 6.58% sold-short, but has had a good run this year as the energy sector has recovered.\nFundamentals\nWe'll look back at sales results for this group of six meme stocks and then look ahead at sales estimates through 2023.\n\nLooking back\n\nFirst, here's a comparison of annual sales, in millions of dollars for the past five reported fiscal years (where available):\n\nYou can see clear growth paths in recent years for Palantir, Wendy's and ContextLogic, while Clean Energy Fuels had understandable challenges from lower natural gas prices in 2020.\nClover was incorporated on Oct. 18, 2019. It hasn't yet reported annual revenue. For the first quarter, the company reported $200.3 million in sales, up from $165.5 million in the first quarter of 2020. Clover merged with Social Capital Hedosophia Holdings Corp. III (a SPAC) on Jan. 7.\n\nLooking ahead -- sales\n\nStarting from a baseline of calendar 2021, here are sales estimates going out through 2023 among Wall Street analysts polled by FactSet:\n\nDouble-digit or better sales growth is expected for all of the companies over the next two years except Wendy's. Price-to-sale ratios, based on closing share prices on June 9 and the 2023 estimates, are included. In comparison, the S&P 500 trades for 2.5 times its weighted aggregate consensus sales estimate for 2023.\nLooking ahead -- earnings\nHere are earnings-per-share estimates going out to 2023:\n\nYou might not have expected the EPS projections to be particularly useful, but they underscore how high these stocks are trading. The S&P 500 trades for 18.4 times its consensus EPS estimate for 2023.\nThe estimates show expected improvement for Palantir, if it manages to maintain its rapid sales growth. Wendy's is expected to improve EPS significantly even with modest sale growth, in part because of stock buybacks .\nWall Street's opinion\nHere's a summary of opinion for this group of meme stocks among Wall Street analysts:\n\nSo the Wall Street analysts have the most love for ContextLogic, with 82% \"buy\" or equivalent ratings. Second place goes to Clean Energy Fuels. For that company, the timing, in a year of economic and fuel-price recovery, not to mention the desire among many investors to help lower carbon emissions, seems perfect.\nWall Street is skeptical of Palantir and Clover Health, but it would seem for different reasons, as Palantir already has a history of rapid sales growth.","news_type":1},"isVote":1,"tweetType":1,"viewCount":664,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":229370839965744,"gmtCreate":1697040620204,"gmtModify":1697040622347,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AVPT\">$AvePoint Inc.(AVPT)$ &nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/AVPT\">$AvePoint Inc.(AVPT)$ &nbsp;</a>","text":"$AvePoint 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game","images":[{"img":"https://static.tigerbbs.com/cb7b669540d19aa5935289a02f409820","width":"1176","height":"2091"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/370663812","isVote":1,"tweetType":1,"viewCount":405,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9917963605,"gmtCreate":1665412817508,"gmtModify":1676537602118,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Mai&nbsp;","listText":"Mai&nbsp;","text":"Mai","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9917963605","repostId":"1136051660","repostType":2,"isVote":1,"tweetType":1,"viewCount":137,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":358693646,"gmtCreate":1616682988985,"gmtModify":1704797430398,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Why 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up down down&nbsp;","listText":"Up up down down&nbsp;","text":"Up up down down","images":[{"img":"https://static.tigerbbs.com/76ba19224d582c3e839a061dd1986322","width":"1176","height":"2091"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/118154925","isVote":1,"tweetType":1,"viewCount":408,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":356713311,"gmtCreate":1616814493033,"gmtModify":1704799345205,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Keep on buying&nbsp;","listText":"Keep on buying&nbsp;","text":"Keep on buying","images":[{"img":"https://static.tigerbbs.com/c4ac837b63ee0ad261bfa21f107afd59","width":"1176","height":"2091"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/356713311","isVote":1,"tweetType":1,"viewCount":528,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":356558356,"gmtCreate":1616801038275,"gmtModify":1704799132063,"author":{"id":"3577223265713987","authorId":"3577223265713987","name":"newbill","avatar":"https://static.tigerbbs.com/71b3c2c0eb6dc5b74b511c7256c91570","crmLevel":5,"crmLevelSwitch":1,"followedFlag":false},"themes":[],"htmlText":"Oh oh","listText":"Oh oh","text":"Oh oh","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/356558356","repostId":"1141686975","repostType":4,"repost":{"id":"1141686975","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1616780260,"share":"https://www.laohu8.com/m/news/1141686975?lang=&edition=full","pubTime":"2021-03-27 01:37","market":"us","language":"en","title":"Zhihu Technology fall on its first day of trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1141686975","media":"Tiger Newspress","summary":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO pri","content":"<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zhihu Technology fall on its first day of trading</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZhihu Technology fall on its first day of trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-03-27 01:37</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Zhihu Technology shares opened at $8.02&nbsp;each on Friday, about 15.6% lower than the company’s IPO price&nbsp;$9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.</p><p><img src=\"https://static.tigerbbs.com/4672a089b4ebb0a889cbfbeb32b48594\" tg-width=\"1920\" tg-height=\"959\" referrerpolicy=\"no-referrer\"></p><p>Zhihu Inc.&nbsp;announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.</p><p>Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.</p><p><b>Sales Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.</p><p>Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.</p><p><b>Gross Margins</b></p><p>The company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.</p><p><b>Total Operating Expenses and Operating Margins</b></p><p>Total operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&amp;A and R&amp;D expenses as a percentage of revenues in the next five years.</p><p><img src=\"https://static.tigerbbs.com/c019cc86f4d4c1d9ffe15d3b4a4bfa75\" tg-width=\"772\" tg-height=\"480\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/ef629be32d2c34d625cb287ad648206d\" tg-width=\"757\" tg-height=\"488\" referrerpolicy=\"no-referrer\"><img src=\"https://static.tigerbbs.com/b9561a02993fbc88c2cad88e68c08730\" tg-width=\"920\" tg-height=\"485\" referrerpolicy=\"no-referrer\"></p><p><b>Company Background</b></p><p>At the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.</p><p>In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.</p><p>Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&amp;As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.</p><p><b>Major Shareholders of Zhihu</b></p><p>The founder &amp; CEO&nbsp;Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.</p><p><b>Key Demographics</b></p><p>The diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.</p><p><img src=\"https://static.tigerbbs.com/524d689472daad1c99491d74dfdbfe24\" tg-width=\"295\" tg-height=\"389\" referrerpolicy=\"no-referrer\"></p><p><b>Revenue Breakdown</b></p><p>Advertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.</p><p>Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.</p><p>In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions &amp; answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.</p><p>Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.</p><p>China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).</p><p><b>Market Opportunities</b></p><p><b>China’s Online Content Communities Market Size</b></p><p>Online content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.</p><p>China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.</p><p>China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.</p><p>One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.</p><p><b>China's Online Content Market</b></p><p>China's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.</p><p><b>China’s Online Content Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/69a7db9cacf26245273702a255aabdb8\" tg-width=\"573\" tg-height=\"258\" referrerpolicy=\"no-referrer\"></p><p><b>Market Size of China’s Online Content Communities (in terms of revenue),2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/aee42792caf4aa2cbdcd17f757a75727\" tg-width=\"584\" tg-height=\"285\" referrerpolicy=\"no-referrer\"></p><p><b>China’s Paid Membership Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/77ff121d78cb1dd922d524a78570152e\" tg-width=\"520\" tg-height=\"286\" referrerpolicy=\"no-referrer\"></p><p><b>Content-commerce solutions</b></p><p>To provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.</p><p><b>China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E</b></p><p><img src=\"https://static.tigerbbs.com/01a230d3fb2d4cf4aeeebfd5c3c691c3\" tg-width=\"520\" tg-height=\"269\" referrerpolicy=\"no-referrer\"></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ZH":"知乎"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1141686975","content_text":"Zhihu Technology shares opened at $8.02 each on Friday, about 15.6% lower than the company’s IPO price $9.5.Zhihu IPO prices at low end of the range, valuing company at about $5.3 billion.Zhihu Inc. announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion.Zhihu has a similar business model as Quora where millions of people ask questions and exchange their views and experiences. Zhihu has become the largest online question and answer community in China.Sales BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. We estimate advertising as a percentage of revenues to gradually decline in the next five years as it is offset by the faster growing Paid Memberships and Content Commerce Solutions. We estimate advertising as a percentage of sales to decline to 34.1% in 2021 and 22.3% in 2025.Paid Memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. We have assumed Paid Membership revenues as a percentage of total revenues to increase to 31.5% in 2021 and 37.8% in 2025.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans. We have assumed Content Commerce Solutions as a percentage of total revenue to jump from 10% in 2020 to 17.8% in 2021 and 32.3% in 2025.Gross MarginsThe company's gross margins improved from 46.6% in 2019 to 56.0% in 2020, driven by an overall improving business scalability. We have assumed further improvements in gross margins to 57.4% in 2021 and 62.3% in 2025.Total Operating Expenses and Operating MarginsTotal operating expenses as a percentage of revenues declined significantly from 204.4% in 2019 to 100.6% in 2020. We expect this ratio to improve further to 79% in 2021, 69.2% in 2022, and 57.2% in 2025. The bulk of the improvements in operating expenses is coming from lower SG&A and R&D expenses as a percentage of revenues in the next five years.Company BackgroundAt the end of 2020, Zhihu had more than 43.1 million cumulative content creators that contributed 315 million questions and answers. In 4Q 2020, the company had 75.7 million average monthly active users, up 33% YoY. One of the key strengths of the company is that it is recognized as one of the most trustworthy online content communities and regarded as providing one of the highest quality content in China. Zhihu has tried to capitalize on its large user base to provide numerous multimedia functions including live streaming, e-commerce, online education, and other video content.In August 2019, Zhihu received $434 million in funding from leading investors including Baidu and Kuaishou Technology, valuing the company at $3.5 billion. Given that the company had $97 million in sales in 2019, this would suggest a P/S valuation multiple of 36x. If we take the same P/S multiple apply to the company's 2020 sales of $207 million, this would suggest an implied valuation of $7.5 billion.Zhihu was originally developed as a question and answer online community in 2010. At the end of 2020, there were a total of 315 million Q&As spanning more than 1,000 verticals and 571,000 topics. Zhihu is one of the top five comprehensive online content communities in China, in terms of average mobile MAUs and revenue in 2020. The company uses artificial intelligence, cloud, and big data algorithms to improve the optimization of its content and services.Major Shareholders of ZhihuThe founder & CEO Zhou Yuanowns an 8.2% stake in the company (but 46.6% voting rights). Sinovation Ventures owns a 13.1% stake and Tencent Holdings Ltd. owns a 12.3% stake of Zhihu.Key DemographicsThe diagram below provides some of the key demographics of Zhihu user base. Males accounted for 56.9% of total users. People under 30 years old accounted for 78.7% of its total user base. Tier I and new tier I cities represented 52.6% of total user base. Many of the users of Zhihu are students and white collar professionals.Revenue BreakdownAdvertising and paid memberships account for the biggest portion of the company's revenues. Advertising accounted for 86.1% and 62.4% of total revenues in 2019 and 2020, respectively. The company's advertising revenue is mainly driven by its MAUs and advertising revenue per MAU. The company's MAUs increased by 42.7% YoY to 68.5 million in 2020. The company started its online advertising business in 2016 and introduced paid content in 2018.Paid memberships represented 13.1% of total revenues in 2019, which increased to 23.7% of total revenues in 2020. Average monthly members jumped by 311.5% YoY to 2.36 million in 2020, which is a testament of an increasing number of customers that value the premium content available on Zhihu.In March 2019, the company introduced the Yan Selection membership program, making it the first payment-based questions & answers community. It provides its members with unlimited access to about 3.4 million paid content including online lectures, columns, audio books, and e-journals. This is one of the biggest strengths of the company as it shows how high quality data and content can generate serious amount of revenues and it also provides a more steady monthly revenue inflow.Content Commerce Solutions and Other sales also increased sharply in 2020. Content Commerce Solutions revenues jumped from 0.6 million RMB in 2019 to 135.8 million RMB in 2020. In early 2020, the company launched Content-Commerce solutions, which provide merchants and brands a one-stop shop for all of their sales and marketing needs, including marketing plans, assigning the most relevant content creators to interested users, and facilitating content creation.China's content-commerce solution market is expected to be one of the fastest growing sectors in the next several years. According to CIC Consultancy, China's content-commerce solution market is expected to enjoy a strong CAGR growth of 46.4% from 2019 to 2025 (112.3 billion RMB).Market OpportunitiesChina’s Online Content Communities Market SizeOnline content communities refer to UGC (user generated content)-focused (including PUGC (professional user generated content) focused online content market players where content creators are also users, who are actively engaged within the communities. The content communities generally can stimulate higher level of user engagement, more interactive user experience, and enjoy lower content cost, compared to PGC (professionally generated content) players. PGC is content created by the branded company or organization.China's online content communities market size increased from 38.6 billion RMB in 2015 to 275.8 billion RMB in 2019 and is further expected to rise to 1.3 trillion RMB in 2025, representing a CAGR of 30.3% from 2019 to 2025, which is higher than the overall online content market growth.China's online content community market has more diversified monetization channels including online advertising, paid membership, content e-commerce, content-commerce solutions, virtual gifting in live streaming, online games, and online education services. In comparison, the US online content community's monetization is mainly through advertising.One of the major positives about the company is the growing trend of more Chinese consumers that are willing to pay money for higher quality content. The number of paying users in China’s online content communities is expected to increase at a CAGR of 17.1% between 2019 and 2025, which means an increase of 360.4 million extra paying users of online content communities to 588.2 million in 2025.China's Online Content MarketChina's online content market tripled from 2015 to reach 1.2 trillion RMB in 2019. This market is expected to increase to 3.7 trillion RMB in 2025, representing a CAGR of 21.4% from 2019 to 2025.China’s Online Content Market Size (in terms of revenue), 2015-2025EMarket Size of China’s Online Content Communities (in terms of revenue),2015-2025EChina’s Paid Membership Market Size (in terms of revenue), 2015-2025EContent-commerce solutionsTo provide integrated marketing services, the online content communities provide content-commerce solutions for content creation, content distribution, and content conversion. The company provides integrated content-commerce solutions, providing merchants and brands one-stop services for all their sales and marketing needs, from making marketing plans, facilitating content creation, assigning the most relevant content creators, to distributing to the interested users. China's content commerce solution market is expected to grow from 11.4 billion RMB in 2019 to 112.3 billion RMB in 2025, at a CAGR of 46.4%.China’s Content-Commerce Solution Market Size (in terms of revenue), 2015-2025E","news_type":1},"isVote":1,"tweetType":1,"viewCount":353,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}