khorgc personal page - To The Moon

khorgc

khorgc

No personal profile

48Follow

9Followers

0Topic

0Badge

2021-05-09

Pinduoduo pinduoduo woo woo

3 Reasons Pinduoduo Stock Fell by More Than 30% in 2021

2021-05-09

Nice

Sorry, the original content has been removed

2021-05-06

Buy or sell?

2021-04-30

Cool

Singapore Passes Libor Exit Milestone With $128 Billion at Stake

2021-04-27

Good company, nothing to fear

Ant Valuation Seen Falling to $29 Billion in Worst-Case Scenario

2021-04-25

When the dust settles?

Alibaba Stock Could Rise 50% After the Regulatory Fine

2021-04-24

Go boy

Alibaba Stock Could Rise 50% After the Regulatory Fine

2021-04-24

One after another

Alibaba: The End Hasn't Come

2021-04-24

Isit gona sky Rocket after this read?

Alibaba Stock Could Rise 50% After the Regulatory Fine

2021-04-24

Sounds real

Alibaba Stock Could Rise 50% After the Regulatory Fine

2021-04-21

Seems like gd news

Chinafy Joins Alibaba Cloud Partner Network

2021-04-20

Not again

China's market regulator investigates Alibaba joint venture

2021-04-17

True true true

Fed’s Waller says the economy is ‘ready to rip’ but policy should stay put

2021-04-17

Good

Einhorn: "The Market Is Fractured And In The Process Of Breaking Completely"

2021-04-17

Wow... It's worth so much

Grab considering secondary Singapore listing after U.S. SPAC merger - sources

2021-04-17

Great to iron things out

After Alibaba’s Record Penalty Regulatory Doubts Haunt China’s Media Tech Sector

2021-04-14

Coinnnnnnssssss

@量说交易心法:比特幣不是決定Coinbase價值的唯一和最終因素

2021-04-12

Datas

JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week

2021-04-12

Great ariticle, would you like to share it?

JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week

2021-04-11

Looks like a small change

Why Alibaba Just Got Hit With A Record $2.87 Billion Fine In China

Go to Tiger App to see more news

{"i18n":{"language":"en_US"},"userPageInfo":{"id":"3577490358002933","uuid":"3577490358002933","gmtCreate":1614396410423,"gmtModify":1616399836504,"name":"khorgc","pinyin":"khorgc","introduction":"","introductionEn":"","signature":"","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":9,"headSize":48,"tweetSize":31,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":2,"name":"无畏虎","nameTw":"無畏虎","represent":"初生牛犊","factor":"发布3条非转发主帖,1条获得他人回复或点赞","iconColor":"3C9E83","bgColor":"A2F1D9"},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"1026c425416b44e0aac28c11a0848493-2","templateUuid":"1026c425416b44e0aac28c11a0848493","name":"Senior Tiger","description":"Join the tiger community for 1000 days","bigImgUrl":"https://static.tigerbbs.com/0063fb68ea29c9ae6858c58630e182d5","smallImgUrl":"https://static.tigerbbs.com/96c699a93be4214d4b49aea6a5a5d1a4","grayImgUrl":"https://static.tigerbbs.com/35b0e542a9ff77046ed69ef602bc105d","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2023.11.25","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1001},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":2,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":2,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"baikeInfo":{},"tab":"post","tweets":[{"id":107453475,"gmtCreate":1620531673897,"gmtModify":1704344685377,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Pinduoduo pinduoduo woo woo","listText":"Pinduoduo pinduoduo woo woo","text":"Pinduoduo pinduoduo woo woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/107453475","repostId":"2133500411","repostType":2,"repost":{"id":"2133500411","pubTimestamp":1620396300,"share":"https://ttm.financial/m/news/2133500411?lang=&edition=fundamental","pubTime":"2021-05-07 22:05","market":"us","language":"en","title":"3 Reasons Pinduoduo Stock Fell by More Than 30% in 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2133500411","media":"Motley Fool","summary":"The Chinese e-commerce company faces some short-term challenges, but its long-term prospects remain intact.","content":"<p>Chinese e-commerce company <b>Pinduoduo</b> (NASDAQ:PDD) was <a href=\"https://laohu8.com/S/AONE\">one</a> of 2020's best-performing stocks, rallying by more than 300% during the year. The surge in online shopping driven by pandemic lockdown orders and social distancing efforts benefited major e-commerce players like <b>Sea Limited</b> and <b>Amazon</b>. Pinduoduo, too, rose to the occasion, gaining major ground on rivals <b>Alibaba</b> (NYSE:BABA) and <b>JD.com</b>. Its revenue grew by 97% year over year in 2020.</p><p>But Pinduoduo's share-price climb seems to have run out of steam, despite continued strength for some other tech bellwethers. <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> share prices even hit an all-time high last week, underscoring that there's sustained demand among investors for quality tech names. Pinduoduo stock, on the other hand, is now trading down about 37% from its peak in mid-February.</p><p>Here's why the company and its stock may have fallen out of favor.</p><p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F624680%2Fwoman-shrugging-confused-uncertain-square.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"593\" referrerpolicy=\"no-referrer\"></p><p>Image source: Getty Images.</p><h2>3 reasons Pinduoduo stock has tumbled in 2021</h2><p>Pinduoduo's emergence as a major force in e-commerce has been nothing short of remarkable. In just five short years, it went from an unknown start-up to China's biggest e-commerce platform, with more active buyers than Alibaba. Revenue grew at a stunning rate and hit 59.5 &nbsp;billion yuan ($9.2 billion) in 2020, almost doubling&nbsp;year over year.</p><p>The company owes much of its success to founder Zheng Huang, a data scientist and entrepreneur who was part of the team that set up <b>Alphabet</b>'s Google China. But less than a year after he relinquished his role as CEO (on July 1, 2020) -- a move that was itself shocking -- Huang also recently stepped down as chairman of the board. That latest move may have spooked investors further -- the stock price is down 17% since the announcement on March 17.</p><p>But that's not the only reason for concern. Chinese regulators have launched wide-ranging antitrust probes into that nation's large tech companies. The government just fined Alibaba $2.8 billion for breaking anti-monopoly laws. <b>Tencent</b> and <b>Baidu</b> were hit with much smaller fines&nbsp;in March for making acquisitions without notifying authorities.</p><p>There's no clear evidence -- so far -- that Pinduoduo is involved in anti-competitive activities. But what's clear is that China is tightening its grip over its local tech titans, hurting their growth prospects. As <a href=\"https://laohu8.com/S/AONE.U\">one</a> of China's biggest e-commerce companies, Pinduoduo will need to adapt to those challenges.</p><p>In addition to these two reasons, the tide in the stock market is turning against high-growth tech companies. With many Americans beginning to resume their pre-pandemic ways, investors are selling the hypergrowth tech stocks that flourished during 2020, taking their profits, and shifting their bets into \"reopening\" plays like <b>Wells Fargo</b> and <b>Dine Brands Global</b>. Some of last year's hottest names like <b>Tesla</b> and <b><a href=\"https://laohu8.com/S/SNOW\">Snowflake</a></b> are down by 20% to 50% from all-time highs. As Pinduoduo was one of 2020's best-performing stocks, there's a high chance that some of its recent declines can be attributed to it getting caught up in the wider tech sell-off.</p><h2>What's next for Pinduoduo?</h2><p>Huang's abrupt exit from day-to-day operations at Pinduoduo has left investors with a clouded outlook heading into 2021. But it's worth noting that he remains the company's biggest shareholder. As a result, he will likely continue providing some guidance to the company. What's more, he has left Pinduoduo's management in good hands. New CEO Lei Chen -- who has worked with Huang since 2011 -- has been a key contributor to growing it into the powerhouse that it is today.</p><p>Over the next few years, Pinduoduo is well-positioned to expand further on the back of rising customer spending. Its users spend just 2,115 yuan ($300) a year on the platform, still low compared to what the average customer spends on Alibaba. Beyond e-commerce, Pinduoduo has a vision to build a \"worldwide presence in agriculture,\" which could dramatically widen its addressable market. Agriculture-related gross merchandise value (GMV) nearly doubled from 136 billion yuan in 2019 to 270 billion yuan in 2020. Management expects to hit 1 trillion yuan (around $150 billion) in annual agriculture by 2025.</p><p>In other words, Pinduoduo is just getting started -- and growth-oriented investors should take note.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Reasons Pinduoduo Stock Fell by More Than 30% in 2021</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Reasons Pinduoduo Stock Fell by More Than 30% in 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-07 22:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/07/3-reasons-pinduoduo-stock-fell-by-more-than-30/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese e-commerce company Pinduoduo (NASDAQ:PDD) was one of 2020's best-performing stocks, rallying by more than 300% during the year. The surge in online shopping driven by pandemic lockdown orders ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/07/3-reasons-pinduoduo-stock-fell-by-more-than-30/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","PDD":"拼多多","BABA":"阿里巴巴","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"https://www.fool.com/investing/2021/05/07/3-reasons-pinduoduo-stock-fell-by-more-than-30/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133500411","content_text":"Chinese e-commerce company Pinduoduo (NASDAQ:PDD) was one of 2020's best-performing stocks, rallying by more than 300% during the year. The surge in online shopping driven by pandemic lockdown orders and social distancing efforts benefited major e-commerce players like Sea Limited and Amazon. Pinduoduo, too, rose to the occasion, gaining major ground on rivals Alibaba (NYSE:BABA) and JD.com. Its revenue grew by 97% year over year in 2020.But Pinduoduo's share-price climb seems to have run out of steam, despite continued strength for some other tech bellwethers. Facebook share prices even hit an all-time high last week, underscoring that there's sustained demand among investors for quality tech names. Pinduoduo stock, on the other hand, is now trading down about 37% from its peak in mid-February.Here's why the company and its stock may have fallen out of favor.Image source: Getty Images.3 reasons Pinduoduo stock has tumbled in 2021Pinduoduo's emergence as a major force in e-commerce has been nothing short of remarkable. In just five short years, it went from an unknown start-up to China's biggest e-commerce platform, with more active buyers than Alibaba. Revenue grew at a stunning rate and hit 59.5  billion yuan ($9.2 billion) in 2020, almost doubling year over year.The company owes much of its success to founder Zheng Huang, a data scientist and entrepreneur who was part of the team that set up Alphabet's Google China. But less than a year after he relinquished his role as CEO (on July 1, 2020) -- a move that was itself shocking -- Huang also recently stepped down as chairman of the board. That latest move may have spooked investors further -- the stock price is down 17% since the announcement on March 17.But that's not the only reason for concern. Chinese regulators have launched wide-ranging antitrust probes into that nation's large tech companies. The government just fined Alibaba $2.8 billion for breaking anti-monopoly laws. Tencent and Baidu were hit with much smaller fines in March for making acquisitions without notifying authorities.There's no clear evidence -- so far -- that Pinduoduo is involved in anti-competitive activities. But what's clear is that China is tightening its grip over its local tech titans, hurting their growth prospects. As one of China's biggest e-commerce companies, Pinduoduo will need to adapt to those challenges.In addition to these two reasons, the tide in the stock market is turning against high-growth tech companies. With many Americans beginning to resume their pre-pandemic ways, investors are selling the hypergrowth tech stocks that flourished during 2020, taking their profits, and shifting their bets into \"reopening\" plays like Wells Fargo and Dine Brands Global. Some of last year's hottest names like Tesla and Snowflake are down by 20% to 50% from all-time highs. As Pinduoduo was one of 2020's best-performing stocks, there's a high chance that some of its recent declines can be attributed to it getting caught up in the wider tech sell-off.What's next for Pinduoduo?Huang's abrupt exit from day-to-day operations at Pinduoduo has left investors with a clouded outlook heading into 2021. But it's worth noting that he remains the company's biggest shareholder. As a result, he will likely continue providing some guidance to the company. What's more, he has left Pinduoduo's management in good hands. New CEO Lei Chen -- who has worked with Huang since 2011 -- has been a key contributor to growing it into the powerhouse that it is today.Over the next few years, Pinduoduo is well-positioned to expand further on the back of rising customer spending. Its users spend just 2,115 yuan ($300) a year on the platform, still low compared to what the average customer spends on Alibaba. Beyond e-commerce, Pinduoduo has a vision to build a \"worldwide presence in agriculture,\" which could dramatically widen its addressable market. Agriculture-related gross merchandise value (GMV) nearly doubled from 136 billion yuan in 2019 to 270 billion yuan in 2020. Management expects to hit 1 trillion yuan (around $150 billion) in annual agriculture by 2025.In other words, Pinduoduo is just getting started -- and growth-oriented investors should take note.","news_type":1},"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107204651,"gmtCreate":1620491793073,"gmtModify":1704344333795,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/107204651","repostId":"1186544816","repostType":2,"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102481712,"gmtCreate":1620230764336,"gmtModify":1704340574382,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Buy or sell?&nbsp;","listText":"Buy or sell?&nbsp;","text":"Buy or sell?","images":[{"img":"https://static.tigerbbs.com/cf04b39d92ebda7f52b1ff43d439358d","width":"1080","height":"3021"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/102481712","isVote":1,"tweetType":1,"viewCount":347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":103893579,"gmtCreate":1619763199291,"gmtModify":1704272029231,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103893579","repostId":"1188621142","repostType":2,"repost":{"id":"1188621142","pubTimestamp":1619755327,"share":"https://ttm.financial/m/news/1188621142?lang=&edition=fundamental","pubTime":"2021-04-30 12:02","market":"sg","language":"en","title":"Singapore Passes Libor Exit Milestone With $128 Billion at Stake","url":"https://stock-news.laohu8.com/highlight/detail?id=1188621142","media":"Bloomberg","summary":"New cash products to cease being tied to SOR at end-AprilLimited historical use of interbank funding","content":"<ul><li>New cash products to cease being tied to SOR at end-April</li><li>Limited historical use of interbank funding a challenge: BI</li></ul><p>Singapore banks are pressing on in their transition away from the discredited London interbank offered rate as financial centers around the world are facing deadlines to move off Libor-priced loans and securities.</p><p>After Friday, lenders and borrowers must&nbsp;stop using&nbsp;the Singapore dollar swapoffer rate(SOR), computed using Libor, for new loans and other so-called cash products and use a new benchmark. That’s the guidance that’s been in placesince last yearfrom a steering committee formed by the city-state’s central bank.</p><p>The amount of such financial instruments -- including business and syndicated loans as well as retail mortgages -- stood at about&nbsp;S$170 billion&nbsp;($128 billion), according to a survey conducted by the Monetary Authority of Singapore in the first half of last year. While banks don’t yet need to migrate any of those outstanding contracts to a new pricing benchmark they will ultimately need to do so, unless the contracts expire before SOR is axed for good. There were also some S$2.1 trillion in derivatives tied to SOR, and the committee proposed last year that banks substantially reduce exposure to them by the&nbsp;end of September 2021.</p><p>Policy makers around the world are developing new gauges to replace Libor after European and U.S. banks were found to have manipulated it for their own gain. Libor is deeply embedded in markets. Some $200 trillion of derivatives are tied to the U.S. dollar benchmark alone and major global banks will spend more than $100 million this year preparing for the switch.</p><p>Different countries have different key deadlines. The global Libor administrator late last year said it was consulting to extend the retirement date for some U.S. dollar rates until late June 2023, after the pandemic stoked fear markets weren’t ready for the&nbsp;seismic shift.</p><p>Singapore, which is moving to replace SOR with the Singapore overnight rate average (SORA), has been one of the faster adapters. It was among the first nations to&nbsp;auction debt&nbsp;linked to an alternative benchmark when it sold notes linked to SORA in August.</p><p>The Southeast Asian financial center still faces challenges in the transition to a Libor alternative, given the limited historical use of the domestic interbank funding market, said Philip McNicholas, Asean FX and rates strategist at Bloomberg Intelligence.</p><p>However, as SORA is based on an average of past overnight lending rates, it may bolster the interbank lending market depth and liquidity, producing better and more efficient price discovery.</p><p>A spokesperson for the Association of Banks in Singapore said that the banks represented in the steering committee subgroups on business/syndicated loans and consumer products are on track to meet the timelines.</p><p>Here’s what some of the big banks in the country are saying:</p><p><b>Oversea-Chinese Banking Corp.</b></p><p>OCBC was the&nbsp;first to extend&nbsp;a loan tied to SORA, a S$150 million deal signed last June for Singapore’s top developer CapitaLand Ltd.</p><p>Since the end of February, OCBC has been offering a full range of SORA-based products, said Koh Ching Ching, head of brand and communications.</p><p>DBS Group Holdings Ltd.</p><p>DBS, along with Industrial &amp; Commercial Bank of China Ltd., last year signed a club loan of S$200 million with agricultural commodity trader Olam International Ltd. that was the&nbsp;first such facility&nbsp;pegged to SORA.</p><p>By the of last year, DBS had closed more than S$1 billion in loans referencing the alternative risk-free benchmark rates, said Philip Fernandez, group corporate treasurer.</p><p><b>United Overseas Bank Ltd.</b></p><p>UOB and CapitaLand in&nbsp;in September&nbsp;entered into a pact for a two-year S$200 million term loan. The dual-tranche loan referenced both SORA and the secured financing rate, the first of its kind in Singapore.</p><p>More than 60% of property loan customers say they are drawn to the stability of SORA-based interest rates, UOB said in a&nbsp;press release&nbsp;earlier this month.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Passes Libor Exit Milestone With $128 Billion at Stake</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Passes Libor Exit Milestone With $128 Billion at Stake\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 12:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-30/singapore-passes-libor-exit-milestone-with-128-billion-at-stake?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New cash products to cease being tied to SOR at end-AprilLimited historical use of interbank funding a challenge: BISingapore banks are pressing on in their transition away from the discredited London...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-30/singapore-passes-libor-exit-milestone-with-128-billion-at-stake?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","O39.SI":"华侨银行","D05.SI":"星展集团控股","STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-30/singapore-passes-libor-exit-milestone-with-128-billion-at-stake?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188621142","content_text":"New cash products to cease being tied to SOR at end-AprilLimited historical use of interbank funding a challenge: BISingapore banks are pressing on in their transition away from the discredited London interbank offered rate as financial centers around the world are facing deadlines to move off Libor-priced loans and securities.After Friday, lenders and borrowers must stop using the Singapore dollar swapoffer rate(SOR), computed using Libor, for new loans and other so-called cash products and use a new benchmark. That’s the guidance that’s been in placesince last yearfrom a steering committee formed by the city-state’s central bank.The amount of such financial instruments -- including business and syndicated loans as well as retail mortgages -- stood at about S$170 billion ($128 billion), according to a survey conducted by the Monetary Authority of Singapore in the first half of last year. While banks don’t yet need to migrate any of those outstanding contracts to a new pricing benchmark they will ultimately need to do so, unless the contracts expire before SOR is axed for good. There were also some S$2.1 trillion in derivatives tied to SOR, and the committee proposed last year that banks substantially reduce exposure to them by the end of September 2021.Policy makers around the world are developing new gauges to replace Libor after European and U.S. banks were found to have manipulated it for their own gain. Libor is deeply embedded in markets. Some $200 trillion of derivatives are tied to the U.S. dollar benchmark alone and major global banks will spend more than $100 million this year preparing for the switch.Different countries have different key deadlines. The global Libor administrator late last year said it was consulting to extend the retirement date for some U.S. dollar rates until late June 2023, after the pandemic stoked fear markets weren’t ready for the seismic shift.Singapore, which is moving to replace SOR with the Singapore overnight rate average (SORA), has been one of the faster adapters. It was among the first nations to auction debt linked to an alternative benchmark when it sold notes linked to SORA in August.The Southeast Asian financial center still faces challenges in the transition to a Libor alternative, given the limited historical use of the domestic interbank funding market, said Philip McNicholas, Asean FX and rates strategist at Bloomberg Intelligence.However, as SORA is based on an average of past overnight lending rates, it may bolster the interbank lending market depth and liquidity, producing better and more efficient price discovery.A spokesperson for the Association of Banks in Singapore said that the banks represented in the steering committee subgroups on business/syndicated loans and consumer products are on track to meet the timelines.Here’s what some of the big banks in the country are saying:Oversea-Chinese Banking Corp.OCBC was the first to extend a loan tied to SORA, a S$150 million deal signed last June for Singapore’s top developer CapitaLand Ltd.Since the end of February, OCBC has been offering a full range of SORA-based products, said Koh Ching Ching, head of brand and communications.DBS Group Holdings Ltd.DBS, along with Industrial & Commercial Bank of China Ltd., last year signed a club loan of S$200 million with agricultural commodity trader Olam International Ltd. that was the first such facility pegged to SORA.By the of last year, DBS had closed more than S$1 billion in loans referencing the alternative risk-free benchmark rates, said Philip Fernandez, group corporate treasurer.United Overseas Bank Ltd.UOB and CapitaLand in in September entered into a pact for a two-year S$200 million term loan. The dual-tranche loan referenced both SORA and the secured financing rate, the first of its kind in Singapore.More than 60% of property loan customers say they are drawn to the stability of SORA-based interest rates, UOB said in a press release earlier this month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377311077,"gmtCreate":1619496135399,"gmtModify":1704724915528,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Good company, nothing to fear","listText":"Good company, nothing to fear","text":"Good company, nothing to fear","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377311077","repostId":"1174102331","repostType":2,"repost":{"id":"1174102331","pubTimestamp":1619489615,"share":"https://ttm.financial/m/news/1174102331?lang=&edition=fundamental","pubTime":"2021-04-27 10:13","market":"hk","language":"en","title":"Ant Valuation Seen Falling to $29 Billion in Worst-Case Scenario","url":"https://stock-news.laohu8.com/highlight/detail?id=1174102331","media":"Bloomberg","summary":"Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding ","content":"<p>Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding company that’s regulated more like a bank, according to Bloomberg Intelligence.</p>\n<p>The regulatory clampdown could push Ant’s revenue growth to the low teens compared with 30% in November, dragging down profit prospects, analyst Francis Chan wrote in a&nbsp;report&nbsp;on Tuesday. Ant’s valuation could drop to a range of $29 billion to $115 billion, from $320 billion previously, he forecasts.</p>\n<p>Ant’s valuation could come to resemble those of banks and other mainstay financial institutions, Chan said. The fintech company is facing curbs on all fronts, from online lending to payments, wealth management and insurance.</p>\n<p>The company’s consumer lending units Huabei and Jiebei could suffer with their links being removed from Alipay, which has a billion users, Chan said. Ant will face more restrictions accessing and using personal information via credit investigations, he added. The company also needs to lower the balance of its Yu’ebao wealth management service, which plunged 18% in the first quarter.</p>\n<p>“Ant Group’s future as China’s fintech giant could be characterized by diminished greatness, with or without Jack Ma,” said Chan. Ma currently holds a controlling stake in the company.</p>\n<p>If Ant is seen like a traditional lender, even a fast-growing one such as&nbsp;China Merchants Bank Co., its valuation might not stretch beyond 487 billion yuan ($75 billion) to 492 billion yuan, Chan said. In the downside scenario, the market may assess Ant similar to the MSCI China Financials index, which implies a value of 186 billion yuan to 245 billion yuan.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ant Valuation Seen Falling to $29 Billion in Worst-Case Scenario</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\">\nAnt Valuation Seen Falling to $29 Billion in Worst-Case Scenario\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-27 10:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-27/ant-valuation-seen-falling-to-29-billion-in-worst-case-scenario?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding company that’s regulated more like a bank, according to Bloomberg Intelligence.\nThe regulatory ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-27/ant-valuation-seen-falling-to-29-billion-in-worst-case-scenario?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"06688":"蚂蚁集团","09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-27/ant-valuation-seen-falling-to-29-billion-in-worst-case-scenario?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174102331","content_text":"Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding company that’s regulated more like a bank, according to Bloomberg Intelligence.\nThe regulatory clampdown could push Ant’s revenue growth to the low teens compared with 30% in November, dragging down profit prospects, analyst Francis Chan wrote in a report on Tuesday. Ant’s valuation could drop to a range of $29 billion to $115 billion, from $320 billion previously, he forecasts.\nAnt’s valuation could come to resemble those of banks and other mainstay financial institutions, Chan said. The fintech company is facing curbs on all fronts, from online lending to payments, wealth management and insurance.\nThe company’s consumer lending units Huabei and Jiebei could suffer with their links being removed from Alipay, which has a billion users, Chan said. Ant will face more restrictions accessing and using personal information via credit investigations, he added. The company also needs to lower the balance of its Yu’ebao wealth management service, which plunged 18% in the first quarter.\n“Ant Group’s future as China’s fintech giant could be characterized by diminished greatness, with or without Jack Ma,” said Chan. Ma currently holds a controlling stake in the company.\nIf Ant is seen like a traditional lender, even a fast-growing one such as China Merchants Bank Co., its valuation might not stretch beyond 487 billion yuan ($75 billion) to 492 billion yuan, Chan said. In the downside scenario, the market may assess Ant similar to the MSCI China Financials index, which implies a value of 186 billion yuan to 245 billion yuan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":375813687,"gmtCreate":1619321981049,"gmtModify":1704722438104,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"When the dust settles?&nbsp;","listText":"When the dust settles?&nbsp;","text":"When the dust settles?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/375813687","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372433000,"gmtCreate":1619232069800,"gmtModify":1704721611960,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Go boy","listText":"Go boy","text":"Go boy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/372433000","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372497415,"gmtCreate":1619231929237,"gmtModify":1704721610491,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"One after another","listText":"One after another","text":"One after another","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372497415","repostId":"1170805005","repostType":2,"repost":{"id":"1170805005","pubTimestamp":1619181499,"share":"https://ttm.financial/m/news/1170805005?lang=&edition=fundamental","pubTime":"2021-04-23 20:38","market":"us","language":"en","title":"Alibaba: The End Hasn't Come","url":"https://stock-news.laohu8.com/highlight/detail?id=1170805005","media":"seekingalpha","summary":"Alibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.None of them seems to be too material, though, and the fear that has gripped the market has resulted in a quite inexpensive valuation.Alibaba is a high-growth mega-corp that trades like a low-growth company. This provides considerable upside potential in the long run.Alibabahas widely underperformed the broad market and most of its tech peers over the last six months, mainly due t","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.</li>\n <li>None of them seems to be too material, though, and the fear that has gripped the market has resulted in a quite inexpensive valuation.</li>\n <li>Alibaba is a high-growth mega-corp that trades like a low-growth company. This provides considerable upside potential in the long run.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e9e22edb23ea75da683065efacc8a826\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Andrew Burton/Getty Images News via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>Alibaba(NYSE:BABA)has widely underperformed the broad market and most of its tech peers over the last six months, mainly due to worries about regulatory pressures, anti-trust legalization, etc. Most of those issues have been resolved now, and it looks like Alibaba's value wasn't really damaged to a large degree. Alibaba remains a leading tech &amp; consumer play in high-growth China that continues to trade at a clear discount compared to most US-based tech peers. There are risks, but Alibaba seems attractive at current prices.</p>\n<p><b>Hundreds Of Billions Destroyed</b></p>\n<p>Looking at Alibaba's market capitalization over the last year, there is a very clear decline in how the market values the company over time:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8b2945ae7abd07b0f49f495052b1d48c\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>From a peak in fall 2020, Alibaba's market cap has declined by 25% or a little more than $200 billion to date. The reasoning for that is not based on any type of fundamental slow-down, revenue decline, or similar, showcased by Alibaba's excellent results during the most recent quarters:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eeea73c74f3890fadff9c321d70fdd47\" tg-width=\"1280\" tg-height=\"960\"><span>Source: Investor presentation</span></p>\n<p>Not only has Alibaba continued to deliver revenue growth of well above 30% since then, but the company also continued to make progress in attractive high-growth spaces such as cloud computing. Alibaba's cloud unit broke even for the first time since inception as its scale is increasing, which bodes well for the future bottom-line contribution of this unit. Last but not least, Alibaba's free cash flow generation remained strong, and its margins remained attractive.</p>\n<p>Thus the big drop in the value the market ascribes to Alibaba's shares must have been caused by something else, which is market sentiment and psychology. Some negative news around Ant Financial's postponed IPO made the market fear looming regulatory pressures on Alibaba. This was exacerbated by anti-trust and anti-monopoly investigations. These were, of course, negatives, but not to the extent that the market priced them in.</p>\n<p>Looking at Alibaba's market capitalization, which declined by more than $200 billion over the last six months, one could assume that regulators would look to impose a fine of dozens or even hundreds of billions of dollars on Alibaba. That was, however, not the outcome of the investigations.</p>\n<p><b>Things Are Clearing Up For Alibaba</b></p>\n<p>Instead, Chinese regulators gave a slap on the wrist, seeking a$2.75 billion finefrom Alibaba. That sounds like a lot, but it really isn't all that much when we consider Alibaba's immense size:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9777ed30a0bc29e8fdcd0373fe98e366\" tg-width=\"640\" tg-height=\"160\"><span>Source: Alibaba filing</span></p>\n<p>Alibaba generated cash of $15.8 billion through its operations during the most recent quarter, or a little over $5 billion a month. The fine that was imposed on the company thus is equal to about two weeks' worth of cash flows. Is that a positive? No, it's a negative. Is it a large negative? In fact, it seems barely noticeable compared to Alibaba's size. We can also look at how this fine compares to Alibaba's cash holding of more than $50 billion, and, once again, we are talking about a very minor fine relative to how the company is doing. What could be a company-breaking fine for any mid-sized business will barely leave a dent in Alibaba's cash holding, and with this issue being resolved now, it is no wonder that&nbsp;shares have jumped&nbsp;following the ruling.</p>\n<p>The other theme that had pressured Alibaba's shares, Ant Financial's regulatory issues, has more or less been resolved as well. Ant Financial will be&nbsp;turned into a financial holding company, there will be some additional oversight, and there were some forced divestments. But this didn't break Ant Financial at all, and it seems questionable whether the hit to Alibaba's value was really all that material, as Alibaba is only a minority holder in Ant Financial anyways.</p>\n<p>Again, these developments that occurred over the last six months aren't positives, but they are not extremely large negatives. A $200+ billion drop in Alibaba's market capitalization seemed way overblown. The good thing about market overreactions, however, is that one can use them to get attractive entry prices (in case markets are overreacting to the downside) or attractive exit prices (in cases where markets are too exuberant).</p>\n<p>In Alibaba's case, the best time to load up on shares was when they traded for around $220 several times over the last six months. They have risen to a somewhat higher level since then, partially due to the market's realization that the $2.75 billion fine wasn't all that material, but Alibaba's shares are still looking quite inexpensive even now.</p>\n<p><b>Alibaba Is An Outstanding Value Among Tech Mega-Caps</b></p>\n<p>Looking at the largest companies in the world, by market capitalization, we see that most of them are tech companies, or at least tech-leaning, such as Tesla (TSLA). Alibaba stands out among those due to a quite low valuation:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/35e905980ec6f35fdbb0069b2386e4dd\" tg-width=\"635\" tg-height=\"521\"><span>Data by YCharts</span></p>\n<p>While others trade at 30-40 times net earnings mostly, with Amazon (AMZN) and especially Tesla trading at even higher valuations, Alibaba is valued at a very inexpensive 21 times forward earnings. This also represents a discount compared to broad US equity markets, which are trading for around 25 times forward earnings right now - at least partially due to the heavy weight of companies such as Apple (AAPL), Amazon, and Tesla.</p>\n<p>One may be inclined to conclude that Alibaba is trading at the lowest valuation among those companies due to a below-average growth outlook or below-average fundamentals, but that isn't true.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/059736c2aa39c317943026b469331d00\" tg-width=\"635\" tg-height=\"504\"><span>Data by YCharts</span></p>\n<p>While the other mega-caps have grown by 5%-40% in 2020, with an average of around 20%, Alibaba has delivered revenue growth of 35%-50% in each&nbsp;quarter of the current fiscal year. Clearly, Alibaba is growing faster than the average mega-cap, and most analysts expect that this will not change any time soon.</p>\n<p>Thanks to exposure to the high-growth, online-focused consumer market in its home country China, combined with excellent growth in additional franchises such as its cloud computing unit, Alibaba should be able to deliver compelling growth for the foreseeable future. Alibaba is an excellent play for the ongoing expansion of the Chinese economy, which just delivered&nbsp;record growth&nbsp;on a year-over-year basis.</p>\n<p>With a clean balance sheet thanks to a $50+ billion cash position, strong free cash flows, and attractive margins, Alibaba also seems like a very appropriate choice from a quality perspective. To me, the company doesn't look inferior to the major US tech companies on that basis.</p>\n<p><b>Risks To Consider</b></p>\n<p>There are, of course, still risks that one should consider before investing. It is possible that regulators demand more change from Alibaba, or impose additional fines, although that seems relatively unlikely for now as the current anti-monopoly investigation has just been concluded. Nevertheless, Alibaba is of course dependent to some degree on the goodwill of Chinese regulators and politicians.</p>\n<p>On top of that, due to a consumer-focused business model, Alibaba would seem quite vulnerable to any external shock that hits Chinese consumers hard. Since the country has weathered the current pandemic quite well and continues to deliver above-average economic growth rates, I don't think this is a likely scenario in the foreseeable future, though.</p>\n<p>I don't see Alibaba as an especially risky investment at all, but these factors should still be considered before making an investment, as should other potential risks that could affect the company. One should mention, however, that the top US companies are also, at least to some extent, dependent on regulatory goodwill and could see an impact from an economic downturn, thus Alibaba is not necessarily a much riskier choice than Facebook, for example.</p>\n<p><b>Takeaway</b></p>\n<p>Alibaba is a high-growth player with a strong market position in a country that continues to deliver above-average economic growth. Alibaba has strong fundamentals, and yet it trades at a quite inexpensive valuation, both on an absolute basis as well as compared to how other mega-caps are valued.</p>\n<p>Alibaba isn't a risk-less stock, but the risks seem quite bearable to me. At just 17 times 2022's net earnings, Alibaba looks attractive to me. Since the Ant Financial and anti-monopoly issues have cleared up, I believe that Alibaba's shares could rise considerably from the current level, as sentiment hopefully improves. It would be great to see management encourage such an upward move by being more aggressive with share repurchases, but there is no guarantee for that.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: The End Hasn't Come</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\">\nAlibaba: The End Hasn't Come\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 20:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4420852-alibaba-the-end-hasnt-come><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.\nNone of them seems to be too material, though, and the fear that has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4420852-alibaba-the-end-hasnt-come\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4420852-alibaba-the-end-hasnt-come","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1170805005","content_text":"Summary\n\nAlibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.\nNone of them seems to be too material, though, and the fear that has gripped the market has resulted in a quite inexpensive valuation.\nAlibaba is a high-growth mega-corp that trades like a low-growth company. This provides considerable upside potential in the long run.\n\nPhoto by Andrew Burton/Getty Images News via Getty Images\nArticle Thesis\nAlibaba(NYSE:BABA)has widely underperformed the broad market and most of its tech peers over the last six months, mainly due to worries about regulatory pressures, anti-trust legalization, etc. Most of those issues have been resolved now, and it looks like Alibaba's value wasn't really damaged to a large degree. Alibaba remains a leading tech & consumer play in high-growth China that continues to trade at a clear discount compared to most US-based tech peers. There are risks, but Alibaba seems attractive at current prices.\nHundreds Of Billions Destroyed\nLooking at Alibaba's market capitalization over the last year, there is a very clear decline in how the market values the company over time:\nData by YCharts\nFrom a peak in fall 2020, Alibaba's market cap has declined by 25% or a little more than $200 billion to date. The reasoning for that is not based on any type of fundamental slow-down, revenue decline, or similar, showcased by Alibaba's excellent results during the most recent quarters:\nSource: Investor presentation\nNot only has Alibaba continued to deliver revenue growth of well above 30% since then, but the company also continued to make progress in attractive high-growth spaces such as cloud computing. Alibaba's cloud unit broke even for the first time since inception as its scale is increasing, which bodes well for the future bottom-line contribution of this unit. Last but not least, Alibaba's free cash flow generation remained strong, and its margins remained attractive.\nThus the big drop in the value the market ascribes to Alibaba's shares must have been caused by something else, which is market sentiment and psychology. Some negative news around Ant Financial's postponed IPO made the market fear looming regulatory pressures on Alibaba. This was exacerbated by anti-trust and anti-monopoly investigations. These were, of course, negatives, but not to the extent that the market priced them in.\nLooking at Alibaba's market capitalization, which declined by more than $200 billion over the last six months, one could assume that regulators would look to impose a fine of dozens or even hundreds of billions of dollars on Alibaba. That was, however, not the outcome of the investigations.\nThings Are Clearing Up For Alibaba\nInstead, Chinese regulators gave a slap on the wrist, seeking a$2.75 billion finefrom Alibaba. That sounds like a lot, but it really isn't all that much when we consider Alibaba's immense size:\nSource: Alibaba filing\nAlibaba generated cash of $15.8 billion through its operations during the most recent quarter, or a little over $5 billion a month. The fine that was imposed on the company thus is equal to about two weeks' worth of cash flows. Is that a positive? No, it's a negative. Is it a large negative? In fact, it seems barely noticeable compared to Alibaba's size. We can also look at how this fine compares to Alibaba's cash holding of more than $50 billion, and, once again, we are talking about a very minor fine relative to how the company is doing. What could be a company-breaking fine for any mid-sized business will barely leave a dent in Alibaba's cash holding, and with this issue being resolved now, it is no wonder that shares have jumped following the ruling.\nThe other theme that had pressured Alibaba's shares, Ant Financial's regulatory issues, has more or less been resolved as well. Ant Financial will be turned into a financial holding company, there will be some additional oversight, and there were some forced divestments. But this didn't break Ant Financial at all, and it seems questionable whether the hit to Alibaba's value was really all that material, as Alibaba is only a minority holder in Ant Financial anyways.\nAgain, these developments that occurred over the last six months aren't positives, but they are not extremely large negatives. A $200+ billion drop in Alibaba's market capitalization seemed way overblown. The good thing about market overreactions, however, is that one can use them to get attractive entry prices (in case markets are overreacting to the downside) or attractive exit prices (in cases where markets are too exuberant).\nIn Alibaba's case, the best time to load up on shares was when they traded for around $220 several times over the last six months. They have risen to a somewhat higher level since then, partially due to the market's realization that the $2.75 billion fine wasn't all that material, but Alibaba's shares are still looking quite inexpensive even now.\nAlibaba Is An Outstanding Value Among Tech Mega-Caps\nLooking at the largest companies in the world, by market capitalization, we see that most of them are tech companies, or at least tech-leaning, such as Tesla (TSLA). Alibaba stands out among those due to a quite low valuation:\nData by YCharts\nWhile others trade at 30-40 times net earnings mostly, with Amazon (AMZN) and especially Tesla trading at even higher valuations, Alibaba is valued at a very inexpensive 21 times forward earnings. This also represents a discount compared to broad US equity markets, which are trading for around 25 times forward earnings right now - at least partially due to the heavy weight of companies such as Apple (AAPL), Amazon, and Tesla.\nOne may be inclined to conclude that Alibaba is trading at the lowest valuation among those companies due to a below-average growth outlook or below-average fundamentals, but that isn't true.\nData by YCharts\nWhile the other mega-caps have grown by 5%-40% in 2020, with an average of around 20%, Alibaba has delivered revenue growth of 35%-50% in each quarter of the current fiscal year. Clearly, Alibaba is growing faster than the average mega-cap, and most analysts expect that this will not change any time soon.\nThanks to exposure to the high-growth, online-focused consumer market in its home country China, combined with excellent growth in additional franchises such as its cloud computing unit, Alibaba should be able to deliver compelling growth for the foreseeable future. Alibaba is an excellent play for the ongoing expansion of the Chinese economy, which just delivered record growth on a year-over-year basis.\nWith a clean balance sheet thanks to a $50+ billion cash position, strong free cash flows, and attractive margins, Alibaba also seems like a very appropriate choice from a quality perspective. To me, the company doesn't look inferior to the major US tech companies on that basis.\nRisks To Consider\nThere are, of course, still risks that one should consider before investing. It is possible that regulators demand more change from Alibaba, or impose additional fines, although that seems relatively unlikely for now as the current anti-monopoly investigation has just been concluded. Nevertheless, Alibaba is of course dependent to some degree on the goodwill of Chinese regulators and politicians.\nOn top of that, due to a consumer-focused business model, Alibaba would seem quite vulnerable to any external shock that hits Chinese consumers hard. Since the country has weathered the current pandemic quite well and continues to deliver above-average economic growth rates, I don't think this is a likely scenario in the foreseeable future, though.\nI don't see Alibaba as an especially risky investment at all, but these factors should still be considered before making an investment, as should other potential risks that could affect the company. One should mention, however, that the top US companies are also, at least to some extent, dependent on regulatory goodwill and could see an impact from an economic downturn, thus Alibaba is not necessarily a much riskier choice than Facebook, for example.\nTakeaway\nAlibaba is a high-growth player with a strong market position in a country that continues to deliver above-average economic growth. Alibaba has strong fundamentals, and yet it trades at a quite inexpensive valuation, both on an absolute basis as well as compared to how other mega-caps are valued.\nAlibaba isn't a risk-less stock, but the risks seem quite bearable to me. At just 17 times 2022's net earnings, Alibaba looks attractive to me. Since the Ant Financial and anti-monopoly issues have cleared up, I believe that Alibaba's shares could rise considerably from the current level, as sentiment hopefully improves. It would be great to see management encourage such an upward move by being more aggressive with share repurchases, but there is no guarantee for that.","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372497843,"gmtCreate":1619231898282,"gmtModify":1704721608531,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Isit gona sky Rocket after this read?&nbsp;","listText":"Isit gona sky Rocket after this read?&nbsp;","text":"Isit gona sky Rocket after this read?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372497843","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372491747,"gmtCreate":1619231544189,"gmtModify":1704721600428,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Sounds real","listText":"Sounds real","text":"Sounds real","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372491747","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":593,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378912709,"gmtCreate":1618990251701,"gmtModify":1704717952710,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Seems like gd news","listText":"Seems like gd news","text":"Seems like gd news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378912709","repostId":"2129827063","repostType":2,"repost":{"id":"2129827063","pubTimestamp":1618989180,"share":"https://ttm.financial/m/news/2129827063?lang=&edition=fundamental","pubTime":"2021-04-21 15:13","market":"us","language":"en","title":"Chinafy Joins Alibaba Cloud Partner Network","url":"https://stock-news.laohu8.com/highlight/detail?id=2129827063","media":"StreetInsider","summary":"HONG KONG, April 21, 2021 /PRNewswire/ -- Chinafy announces today that it has joined the Alibaba Clo","content":"<html><body><div>\n<div>\n<p>HONG KONG, April 21, 2021 /PRNewswire/ --<b> Chinafy announces today that it has joined the Alibaba Cloud Technology Partner Network. </b></p>\n<p>This partnership enables global multinationals, e-commerce, travel, and technology companies <b>improved</b> access to website acceleration and SEO performance in China, a faster go-to-market strategy, and content delivery via a more extensive near-China CDN network. </p>\n<p>For Alibaba Cloud customers with websites, they now have a streamlined option to leverage Chinafy's intelligent resource optimization platform and accelerate both onshore, and offshore web performance in China.</p>\n<p>For Chinafy customers, they now have the option to elect Alibaba Cloud's extensive content delivery network and Alibaba's China Gateway Consulting services as part of their web optimization process with Chinafy. </p>\n<p>\"With the depth of Alibaba Cloud's local expertise, vast infrastructure and multiple points-of-presence, Chinafy is able to offer improved performance, and reliability for businesses looking to grow in China\" - Kevin Lepsoe, CEO of Chinafy.</p>\n<p>For more information about Alibaba Cloud Partner Network, please visit https://www.alibabacloud.com/partner</p>\n<p>For more information about Chinafy Partners and how to become a partner, please visit https://www.chinafy.com/partners</p>\n<p><b>About Alibaba Cloud</b></p>\n<p>Alibaba Cloud, founded in 2009, is a global leader in cloud computing and artificial intelligence, providing services to thousands of enterprises, developers, and government organizations in more than 200 countries and regions. Committed to the success of its customers, Alibaba Cloud provides reliable and secure cloud computing and data processing capabilities as a part of its online solutions. Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group.</p>\n<p><b>About Chinafy</b></p>\n<p>Headquartered in Hong Kong, Chinafy (<span>www.chinafy.com</span>) is on a mission to put the world's second-largest economy within reach for global companies everywhere with their Web Performance Solutions for China. Chinafy's platform accelerates, optimizes, and protects any internet property for delivery in China without adding hardware or manually modifying a line of code. By combining intelligent China-specific resource optimizations, with a multi-layered infrastructure, internet properties are able to achieve significant improvements in performance, a decrease in bounce rates, and an increase in conversions in China in a more cost-effective, results-driven way.</p>\n<p><img height=\"12\" src=\"https://c212.net/c/img/favicon.png?sn=HK50283&amp;sd=2021-04-21\" title=\"Cision\" width=\"12\"/> View original content:http://www.prnewswire.com/news-releases/chinafy-joins-alibaba-cloud-partner-network-301273494.html</p>\n<p>SOURCE  Chinafy</p>\n</div> </div></body></html>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinafy Joins Alibaba Cloud Partner Network</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\">\nChinafy Joins Alibaba Cloud Partner Network\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-21 15:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18286787><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>HONG KONG, April 21, 2021 /PRNewswire/ -- Chinafy announces today that it has joined the Alibaba Cloud Technology Partner Network. \nThis partnership enables global multinationals, e-commerce, travel, ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18286787\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18286787","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129827063","content_text":"HONG KONG, April 21, 2021 /PRNewswire/ -- Chinafy announces today that it has joined the Alibaba Cloud Technology Partner Network. \nThis partnership enables global multinationals, e-commerce, travel, and technology companies improved access to website acceleration and SEO performance in China, a faster go-to-market strategy, and content delivery via a more extensive near-China CDN network. \nFor Alibaba Cloud customers with websites, they now have a streamlined option to leverage Chinafy's intelligent resource optimization platform and accelerate both onshore, and offshore web performance in China.\nFor Chinafy customers, they now have the option to elect Alibaba Cloud's extensive content delivery network and Alibaba's China Gateway Consulting services as part of their web optimization process with Chinafy. \n\"With the depth of Alibaba Cloud's local expertise, vast infrastructure and multiple points-of-presence, Chinafy is able to offer improved performance, and reliability for businesses looking to grow in China\" - Kevin Lepsoe, CEO of Chinafy.\nFor more information about Alibaba Cloud Partner Network, please visit https://www.alibabacloud.com/partner\nFor more information about Chinafy Partners and how to become a partner, please visit https://www.chinafy.com/partners\nAbout Alibaba Cloud\nAlibaba Cloud, founded in 2009, is a global leader in cloud computing and artificial intelligence, providing services to thousands of enterprises, developers, and government organizations in more than 200 countries and regions. Committed to the success of its customers, Alibaba Cloud provides reliable and secure cloud computing and data processing capabilities as a part of its online solutions. Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group.\nAbout Chinafy\nHeadquartered in Hong Kong, Chinafy (www.chinafy.com) is on a mission to put the world's second-largest economy within reach for global companies everywhere with their Web Performance Solutions for China. Chinafy's platform accelerates, optimizes, and protects any internet property for delivery in China without adding hardware or manually modifying a line of code. By combining intelligent China-specific resource optimizations, with a multi-layered infrastructure, internet properties are able to achieve significant improvements in performance, a decrease in bounce rates, and an increase in conversions in China in a more cost-effective, results-driven way.\n View original content:http://www.prnewswire.com/news-releases/chinafy-joins-alibaba-cloud-partner-network-301273494.html\nSOURCE  Chinafy","news_type":1},"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371013256,"gmtCreate":1618891478375,"gmtModify":1704716442996,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Not again","listText":"Not again","text":"Not again","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371013256","repostId":"2128959388","repostType":2,"repost":{"id":"2128959388","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1618836916,"share":"https://ttm.financial/m/news/2128959388?lang=&edition=fundamental","pubTime":"2021-04-19 20:55","market":"us","language":"en","title":"China's market regulator investigates Alibaba joint venture","url":"https://stock-news.laohu8.com/highlight/detail?id=2128959388","media":"Reuters","summary":"BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-co","content":"<p>BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-commerce giant Alibaba Group&nbsp;and Minmetals Development, Minmetals said on Monday, amid a broad antitrust clampdown on internet firms.</p><p>Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.</p><p>Alibaba declined to comment.</p><p>The investigation follows the record&nbsp;$2.75 billion antitrust fineimposed on Alibaba earlier this month.</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>China's market regulator investigates Alibaba joint venture</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\">\nChina's market regulator investigates Alibaba joint venture\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-19 20:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-commerce giant Alibaba Group&nbsp;and Minmetals Development, Minmetals said on Monday, amid a broad antitrust clampdown on internet firms.</p><p>Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.</p><p>Alibaba declined to comment.</p><p>The investigation follows the record&nbsp;$2.75 billion antitrust fineimposed on Alibaba earlier this month.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"600058":"五矿发展","BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2128959388","content_text":"BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-commerce giant Alibaba Group and Minmetals Development, Minmetals said on Monday, amid a broad antitrust clampdown on internet firms.Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.Alibaba declined to comment.The investigation follows the record $2.75 billion antitrust fineimposed on Alibaba earlier this month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370779741,"gmtCreate":1618632289783,"gmtModify":1704713645792,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"True true true","listText":"True true true","text":"True true true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/370779741","repostId":"1165321503","repostType":4,"repost":{"id":"1165321503","pubTimestamp":1618588143,"share":"https://ttm.financial/m/news/1165321503?lang=&edition=fundamental","pubTime":"2021-04-16 23:49","market":"us","language":"en","title":"Fed’s Waller says the economy is ‘ready to rip’ but policy should stay put","url":"https://stock-news.laohu8.com/highlight/detail?id=1165321503","media":"cnbc","summary":"KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.Howe","content":"<div>\n<p>KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.However, he said there’s still “no reason to be pulling the plug” on the heavy levels of policy support ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.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>Fed’s Waller says the economy is ‘ready to rip’ but policy should stay put</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\">\nFed’s Waller says the economy is ‘ready to rip’ but policy should stay put\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 23:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.However, he said there’s still “no reason to be pulling the plug” on the heavy levels of policy support ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1165321503","content_text":"KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.However, he said there’s still “no reason to be pulling the plug” on the heavy levels of policy support the central bank is providing.Waller said he also expects inflationary pressures to be temporary, though he forecasts 2021 to run at 2.5%, well above the Fed’s 2% target.Federal Reserve Governor Christopher Waller said Friday he sees the U.S. economy as set to take off, though not at a fast enough pace that the central bank should start tightening policy.\"I think the economy is ready to rip,\" Waller told CNBC'sSteve Liesmanduring a \"Squawk on the Street\" interview. \"There's still more to do on that, but I think everyone's getting a lot more comfortable with having the virus under control and we're starting to see it in the form of economic activity.\"Those comments came amid a decidedly upward move in economic data.In March alone, nonfarmpayrolls jumped by 916,000, retail sales sawa 9.8% stimulus-fueled boom, and multiple manufacturing gauges reached their highest levels in years.There are further indications that job growth continued into April, with jobless claims last week tumbling to 576,000, easily the lowest level since the early days of the pandemic.Coupled all that witha vaccination pacein excess of the 3 million a day, and it adds up to a strong outlook, Waller said.“We can get the virus pretty much under control. We get 70% of the population vaccinated, then all the fundamentals are there for good, strong growth that we left back in January, February of 2020,” he said. “We’ve still got room to catch up to where we were. We’re making up for lost ground.”‘No reason to be pulling the plug’The economy officially entered recession in February 2020, according to the National Bureau of Economic Research, which makes the official call on contractions and expansions. While the U.S. is poised for another quarter of strong growth, gross domestic product is still running a bit below where it was prior to the Covid-19 onset.That’s part of the reason Waller concurs with his fellow central bankers in seeingthe need to keep policy loose. The Fed is currently holding short-term borrowing rates near zero while it purchases at least $120 billion of bonds each month.In a major policy shift last year, the Fed pledged that it will not raise rates until it sees full and inclusive employment, and is willing to tolerate inflation a bit above the traditional 2% target until it gets there. Fed officials have expressed concern about the uneven nature of the recovery, particularly regarding those at the lower end of the income spectrum.“We’ve got to make that up first,” Waller said. “Other parts of the economy seem to have really come back. We still have relatively high unemployment rates, particularly for minorities, and so we’ve still got a long way to go. There’s no reason to be pulling the plug on our support till we’re really through this.”Waller added that he thinks inflationary pressures that have begun to show up are likely temporary, a view widely held at the Fed. The consumer price index rose 2.6% in March from a year ago.Waller said he expects the Fed’s preferred inflation gauge based on personal consumption expenditures could run around 2.5% for 2021.","news_type":1},"isVote":1,"tweetType":1,"viewCount":209,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370779537,"gmtCreate":1618632262329,"gmtModify":1704713645147,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370779537","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></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>Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"</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\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370770455,"gmtCreate":1618632202377,"gmtModify":1704713644016,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Wow... It's worth so much","listText":"Wow... It's worth so much","text":"Wow... It's worth so much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370770455","repostId":"1113132904","repostType":2,"repost":{"id":"1113132904","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1618557385,"share":"https://ttm.financial/m/news/1113132904?lang=&edition=fundamental","pubTime":"2021-04-16 15:16","market":"us","language":"en","title":"Grab considering secondary Singapore listing after U.S. SPAC merger - sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1113132904","media":"Reuters","summary":"Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing i","content":"<p>Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said.</p><p>Listing on Singapore Exchange&nbsp;would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares.</p><p>Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.</p><p>The potential Singapore listing plans come after Grab this week agreed a $40 billion merger with Altimeter Growth Corp., a special purpose acquisition company (SPAC), making this the world's biggest SPAC deal.</p><p>Grab, which began as a ride-hailing business in 2012, now operates in eight countries and more than 400 cities and has expanded into food and grocery deliveries, as well as digital payments. Last year, it won a digital banking licence in Singapore.</p><p>It wasn't clear how much Grab might aim to raise in any secondary listing, with financial terms and timetable still in the early stages of consideration, the sources said.</p><p>The company with the top valuation on the Singapore bourse is bank DBS Group Ltd(DBSM.SI), currently worth about S$74 billion ($55.4 billion) by capitalisation.</p><p>Grab and SGX declined to comment on the listing plans.</p><p>One of the sources said that while Grab has sufficient cash reserves and could end up raising only a small amount on SGX, a listing would mark a big win for the exchange.</p><p>SGX has mainly only seen large IPOs from real estate investment trusts. Hindered by a small base of retail investors in the city-state, it has struggled with low liquidity and valuations, forcing a spate of delistings and also discouraging big-ticket listings from regional high-growth companies.</p><p>The Hong Kong bourse, however, has benefited from diplomatic and political tensions between the United States and China that have led many Chinese firms to seek secondary listings in Hong Kong. Global fund managers have also been swapping China holdings from Wall Street to Hong Kong.</p><p>SGX has taken many steps to try to bulk up its stock market in recent years, and under Chief Executive Loh Boon Chye, who was appointed six years ago, it has acquired firms to transform itself into a multi-asset exchange.</p><p>Currently, there are 28 companies with a secondary listing on SGX, including Malaysia's IHH Healthcare Bhd(IHHH.KL)and Top Glove Corp Bhd&nbsp;and Hong Kong conglomerate Jardine Matheson Holdings.</p><p>Last year, AMTD International became the first NYSE-listed firm to list on SGX. It also became the first to take advantage of a dual-class share structure in Singapore.</p><p>For Grab, as part of the SPAC merger, it's raising $4 billion from global investors including BlackRock, Temasek Holdings, Fidelity International, Malaysia's Permodalan Nasional Bhd and some of Indonesia's richest family groups.</p><p>($1 = 1.3351 Singapore dollars)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab considering secondary Singapore listing after U.S. SPAC merger - sources</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\">\nGrab considering secondary Singapore listing after U.S. SPAC merger - sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-16 15:16</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said.</p><p>Listing on Singapore Exchange&nbsp;would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares.</p><p>Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.</p><p>The potential Singapore listing plans come after Grab this week agreed a $40 billion merger with Altimeter Growth Corp., a special purpose acquisition company (SPAC), making this the world's biggest SPAC deal.</p><p>Grab, which began as a ride-hailing business in 2012, now operates in eight countries and more than 400 cities and has expanded into food and grocery deliveries, as well as digital payments. Last year, it won a digital banking licence in Singapore.</p><p>It wasn't clear how much Grab might aim to raise in any secondary listing, with financial terms and timetable still in the early stages of consideration, the sources said.</p><p>The company with the top valuation on the Singapore bourse is bank DBS Group Ltd(DBSM.SI), currently worth about S$74 billion ($55.4 billion) by capitalisation.</p><p>Grab and SGX declined to comment on the listing plans.</p><p>One of the sources said that while Grab has sufficient cash reserves and could end up raising only a small amount on SGX, a listing would mark a big win for the exchange.</p><p>SGX has mainly only seen large IPOs from real estate investment trusts. Hindered by a small base of retail investors in the city-state, it has struggled with low liquidity and valuations, forcing a spate of delistings and also discouraging big-ticket listings from regional high-growth companies.</p><p>The Hong Kong bourse, however, has benefited from diplomatic and political tensions between the United States and China that have led many Chinese firms to seek secondary listings in Hong Kong. Global fund managers have also been swapping China holdings from Wall Street to Hong Kong.</p><p>SGX has taken many steps to try to bulk up its stock market in recent years, and under Chief Executive Loh Boon Chye, who was appointed six years ago, it has acquired firms to transform itself into a multi-asset exchange.</p><p>Currently, there are 28 companies with a secondary listing on SGX, including Malaysia's IHH Healthcare Bhd(IHHH.KL)and Top Glove Corp Bhd&nbsp;and Hong Kong conglomerate Jardine Matheson Holdings.</p><p>Last year, AMTD International became the first NYSE-listed firm to list on SGX. It also became the first to take advantage of a dual-class share structure in Singapore.</p><p>For Grab, as part of the SPAC merger, it's raising $4 billion from global investors including BlackRock, Temasek Holdings, Fidelity International, Malaysia's Permodalan Nasional Bhd and some of Indonesia's richest family groups.</p><p>($1 = 1.3351 Singapore dollars)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BLK":"贝莱德","SFTBY":"软银集团","UBER":"优步","BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113132904","content_text":"Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said.Listing on Singapore Exchange would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares.Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.The potential Singapore listing plans come after Grab this week agreed a $40 billion merger with Altimeter Growth Corp., a special purpose acquisition company (SPAC), making this the world's biggest SPAC deal.Grab, which began as a ride-hailing business in 2012, now operates in eight countries and more than 400 cities and has expanded into food and grocery deliveries, as well as digital payments. Last year, it won a digital banking licence in Singapore.It wasn't clear how much Grab might aim to raise in any secondary listing, with financial terms and timetable still in the early stages of consideration, the sources said.The company with the top valuation on the Singapore bourse is bank DBS Group Ltd(DBSM.SI), currently worth about S$74 billion ($55.4 billion) by capitalisation.Grab and SGX declined to comment on the listing plans.One of the sources said that while Grab has sufficient cash reserves and could end up raising only a small amount on SGX, a listing would mark a big win for the exchange.SGX has mainly only seen large IPOs from real estate investment trusts. Hindered by a small base of retail investors in the city-state, it has struggled with low liquidity and valuations, forcing a spate of delistings and also discouraging big-ticket listings from regional high-growth companies.The Hong Kong bourse, however, has benefited from diplomatic and political tensions between the United States and China that have led many Chinese firms to seek secondary listings in Hong Kong. Global fund managers have also been swapping China holdings from Wall Street to Hong Kong.SGX has taken many steps to try to bulk up its stock market in recent years, and under Chief Executive Loh Boon Chye, who was appointed six years ago, it has acquired firms to transform itself into a multi-asset exchange.Currently, there are 28 companies with a secondary listing on SGX, including Malaysia's IHH Healthcare Bhd(IHHH.KL)and Top Glove Corp Bhd and Hong Kong conglomerate Jardine Matheson Holdings.Last year, AMTD International became the first NYSE-listed firm to list on SGX. It also became the first to take advantage of a dual-class share structure in Singapore.For Grab, as part of the SPAC merger, it's raising $4 billion from global investors including BlackRock, Temasek Holdings, Fidelity International, Malaysia's Permodalan Nasional Bhd and some of Indonesia's richest family groups.($1 = 1.3351 Singapore dollars)","news_type":1},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370770268,"gmtCreate":1618632175754,"gmtModify":1704713643529,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Great to iron things out","listText":"Great to iron things out","text":"Great to iron things out","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370770268","repostId":"2127583465","repostType":2,"repost":{"id":"2127583465","pubTimestamp":1618566649,"share":"https://ttm.financial/m/news/2127583465?lang=&edition=fundamental","pubTime":"2021-04-16 17:50","market":"us","language":"en","title":"After Alibaba’s Record Penalty Regulatory Doubts Haunt China’s Media Tech Sector","url":"https://stock-news.laohu8.com/highlight/detail?id=2127583465","media":"Variety","summary":"News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced","content":"<html><body><img height=\"420\" src=\"https://s.yimg.com/uu/api/res/1.2/dqje5sw15tSdYBHJG5xvDA--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/variety_finance_606/931d7af1b200f78083b559ef2aa3ba27\" title=\"Alibaba-AP21100337076793-AP-cr-res\" width=\"630\"/>\n<p>News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced a huge relief rally. The company’s value surged by more than $30 billion in Monday stock trading.</p>\n<p>But continuing share market volatility suggests that there is ongoing worry about further regulation and the path forward for China’s media and tech giants.</p>\n<p>Hong Kong’s tech share index, which includes the principal stock listing of China’s largest company Tencent, and now also includes the secondary equity listings of Alibaba, Baidu and Bilibili, is deep in bear market territory. Closing at 8,232 on Friday, the tech index is 1% lower on the week, 3% lower for the year to date, and fully 25% down compared with its peak on Feb. 17, 2021.</p>\n<p>Chinese competition regulators put the tech sector on notice in the last quarter of 2020 and announced their formal anti-trust probe of Alibaba on Christmas Eve. That the result of the investigation could be delivered so quickly and the scale of the fine, which was only 4% of revenue rather than the maximum 10%, were reasons for Alibaba shares’ brief rebound.</p>\n<p>“To regulate is to ensure better development, and the act of tugging at the sleeve is also an act of love,” said the People’s Daily, the mainland government’s most important media mouthpiece. The government wants “healthy and continuous development of the country’s internet industry” and the fine did not deny the “important role of internet platforms in economic and social development,” the paper said.</p>\n<p>Alibaba said that it accepted its punishment and knew of no other government actions against it. That was another cause for relief. There has been speculation in recent months that Alibaba might be forced to break up or dispose of its huge media and entertainment holdings.</p>\n<p>“Despite the record fine amount, we think this should lift a major overhang on BABA and shift the market’s focus back to fundamentals,” investment bank <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> said in a research note published on Sunday.</p>\n<p>But the relief proved short-lived.</p>\n<p>There is no guarantee that Alibaba’s attempts at compliance over a three-year probation period will necessarily be acceptable to the regulators.</p>\n<p>And, underlining the notion that the whole tech industry remains in the government crosshairs, it soon emerged that the bosses of 34 Chinese tech firms had been summoned for a quiet dressing down. They were told to heed Alibaba’s punishment as a warning to them all.</p>\n<p>Those in attendance are reported to have included reps from Baidu, Sina Weibo, iQIYI, Bytedance (the unlisted owner of Douyin and TikTok), Bilibili, Kuaishou, and Suning, the electronics retailer that owns streaming service PPTV.</p>\n<p>Throughout the recent financial earnings reporting season, the issue of regulation cast a shadow over the sector. Despite China’s V-shaped economic recovery, and strong results from digital sector leaders, caution seemed to be as prevalent as references to COVID-19.</p>\n<p>Tencent, which many industry watchers regarded as the next most vulnerable to government action, played down record profits. It even described working with regulators as the “strategic focus” of its fintech business. Tencent founder Pony Ma confirmed that he had been visited the State Administration of Market Regulation for a chat.</p>\n<p>The government has most notably acted on monopoly practices such as demanding exclusivity from merchants.</p>\n<p>It has also punished firms for not clearing mergers and acquisitions activity with regulators before deals are completed (12 were fined in March), suggesting that the government expects to micromanage private sector entrepreneurialism, and that it may reserve some activities for state-owned enterprises.</p>\n<p>The anti-monopoly moves curb some of the “network effect” benefits that companies derive from achieving huge scale and being able to share client data across a wide range of group businesses. The clearest example of enforced fragmentation was the mandatary restructuring of Alibaba’s financial arm Ant Group.</p>\n<p>In October, Ant’s blockbuster IPO was halted dead in its tracks. This month, Ant was busted down to being an unsexy holding company. Its valuation may have halved.</p>\n<p>China’s new Personal Information Protection Law (PIPL) has some similarities to the General Data Protection Regulation system approved by the European Union in 2018: such as requiring companies to obtain user consent for data gathering and the user’s right to review such information. But, in reinforcing rules about transferring data outside China, it adds another dimension to Chinese state-control and bolsters regulation as a form of international competition. (The U.S. does not yet have a general data protection law like the E.U. or China.)</p>\n<p>Beyond corporate M&amp;A and data privacy, there are other areas that may come under the Chinese regulator’s gaze. There have been warning signals on live-streaming, news-gathering, online advertising, IP, gaming, and money-laundering. And, as has been shown with the Fan Bingbing incident of the past and Jack Ma and Alibaba’s recent travails, cutting celebrities down to size is standard issue Communist Party policy.</p>\n<p>Even a well-respected and established giant like Baidu can look terribly fragile when it is required to spell out in black and white the risks that surround it. Its global offering document, published in March for its secondary share listing in Hong Kong, contains 72 pages of risk warnings and makes for daunting reading. In listed concerns including: “changes in U.S. and international trade policies, particularly with regard to China”; “uncertain” (Chinese) interpretation of its corporate structure; “complex and evolving</p>\n<p>Chinese and international laws and regulations regarding privacy and data protection”; and “changing laws and regulations regarding regulatory matters, corporate governance and public disclosures.”<br/> “China’s economy differs from the economies of most developed countries in many respects, including the extent of government involvement, level of development, growth rate, control of foreign exchange and allocation of resources,” it summarized.</p>\n<p>As the next earnings season cranks up, further corporate commentary on regulatory matters will be essential reading.</p>\n<p>Expect more statements of humble compliance. And look out for further signs that increasingly differing regulatory approaches might accelerate the already expected delisting of China’s media-tech and entertainment firms from U.S. stock markets.</p>\n<div>\n<div>\n<strong>More from Variety</strong>\n</div>\n<ul>\n<li>Beijing's City Government Preps Bill to Regulate Celebrity Drug Use</li>\n<li>'Lord of the Rings' Films Finalize China Re-Release Dates</li>\n<li>China Launches Hotline to Report Online Comments That 'Distort' History or 'Deny' Its Cultural Excellence</li>\n</ul>\n</div>\n<div>\n<div>\n<strong>Best of Variety</strong>\n</div>\n<ul>\n<li>10 Monsters Godzilla Should Fight Next</li>\n<li>What's Coming to Disney Plus in April 2021</li>\n<li>Everything Coming to Netflix in April 2021</li>\n</ul>\n</div></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>After Alibaba’s Record Penalty Regulatory Doubts Haunt China’s Media Tech Sector</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\">\nAfter Alibaba’s Record Penalty Regulatory Doubts Haunt China’s Media Tech Sector\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 17:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alibaba-record-penalty-regulatory-doubts-095049997.html><strong>Variety</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced a huge relief rally. The company’s value surged by more than $30 billion in Monday stock trading.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-record-penalty-regulatory-doubts-095049997.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/QFydXt7JIbRwX8OWQPKpsw--~B/aD01NjM7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://s.yimg.com/uu/api/res/1.2/Y6fyd3EwWQz5yp2IvvZP0g--~B/aD01NjM7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/variety_finance_606/05e2c19f7ea28724f7560aa5ad4df408","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://finance.yahoo.com/news/alibaba-record-penalty-regulatory-doubts-095049997.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2127583465","content_text":"News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced a huge relief rally. The company’s value surged by more than $30 billion in Monday stock trading.\nBut continuing share market volatility suggests that there is ongoing worry about further regulation and the path forward for China’s media and tech giants.\nHong Kong’s tech share index, which includes the principal stock listing of China’s largest company Tencent, and now also includes the secondary equity listings of Alibaba, Baidu and Bilibili, is deep in bear market territory. Closing at 8,232 on Friday, the tech index is 1% lower on the week, 3% lower for the year to date, and fully 25% down compared with its peak on Feb. 17, 2021.\nChinese competition regulators put the tech sector on notice in the last quarter of 2020 and announced their formal anti-trust probe of Alibaba on Christmas Eve. That the result of the investigation could be delivered so quickly and the scale of the fine, which was only 4% of revenue rather than the maximum 10%, were reasons for Alibaba shares’ brief rebound.\n“To regulate is to ensure better development, and the act of tugging at the sleeve is also an act of love,” said the People’s Daily, the mainland government’s most important media mouthpiece. The government wants “healthy and continuous development of the country’s internet industry” and the fine did not deny the “important role of internet platforms in economic and social development,” the paper said.\nAlibaba said that it accepted its punishment and knew of no other government actions against it. That was another cause for relief. There has been speculation in recent months that Alibaba might be forced to break up or dispose of its huge media and entertainment holdings.\n“Despite the record fine amount, we think this should lift a major overhang on BABA and shift the market’s focus back to fundamentals,” investment bank Morgan Stanley said in a research note published on Sunday.\nBut the relief proved short-lived.\nThere is no guarantee that Alibaba’s attempts at compliance over a three-year probation period will necessarily be acceptable to the regulators.\nAnd, underlining the notion that the whole tech industry remains in the government crosshairs, it soon emerged that the bosses of 34 Chinese tech firms had been summoned for a quiet dressing down. They were told to heed Alibaba’s punishment as a warning to them all.\nThose in attendance are reported to have included reps from Baidu, Sina Weibo, iQIYI, Bytedance (the unlisted owner of Douyin and TikTok), Bilibili, Kuaishou, and Suning, the electronics retailer that owns streaming service PPTV.\nThroughout the recent financial earnings reporting season, the issue of regulation cast a shadow over the sector. Despite China’s V-shaped economic recovery, and strong results from digital sector leaders, caution seemed to be as prevalent as references to COVID-19.\nTencent, which many industry watchers regarded as the next most vulnerable to government action, played down record profits. It even described working with regulators as the “strategic focus” of its fintech business. Tencent founder Pony Ma confirmed that he had been visited the State Administration of Market Regulation for a chat.\nThe government has most notably acted on monopoly practices such as demanding exclusivity from merchants.\nIt has also punished firms for not clearing mergers and acquisitions activity with regulators before deals are completed (12 were fined in March), suggesting that the government expects to micromanage private sector entrepreneurialism, and that it may reserve some activities for state-owned enterprises.\nThe anti-monopoly moves curb some of the “network effect” benefits that companies derive from achieving huge scale and being able to share client data across a wide range of group businesses. The clearest example of enforced fragmentation was the mandatary restructuring of Alibaba’s financial arm Ant Group.\nIn October, Ant’s blockbuster IPO was halted dead in its tracks. This month, Ant was busted down to being an unsexy holding company. Its valuation may have halved.\nChina’s new Personal Information Protection Law (PIPL) has some similarities to the General Data Protection Regulation system approved by the European Union in 2018: such as requiring companies to obtain user consent for data gathering and the user’s right to review such information. But, in reinforcing rules about transferring data outside China, it adds another dimension to Chinese state-control and bolsters regulation as a form of international competition. (The U.S. does not yet have a general data protection law like the E.U. or China.)\nBeyond corporate M&A and data privacy, there are other areas that may come under the Chinese regulator’s gaze. There have been warning signals on live-streaming, news-gathering, online advertising, IP, gaming, and money-laundering. And, as has been shown with the Fan Bingbing incident of the past and Jack Ma and Alibaba’s recent travails, cutting celebrities down to size is standard issue Communist Party policy.\nEven a well-respected and established giant like Baidu can look terribly fragile when it is required to spell out in black and white the risks that surround it. Its global offering document, published in March for its secondary share listing in Hong Kong, contains 72 pages of risk warnings and makes for daunting reading. In listed concerns including: “changes in U.S. and international trade policies, particularly with regard to China”; “uncertain” (Chinese) interpretation of its corporate structure; “complex and evolving\nChinese and international laws and regulations regarding privacy and data protection”; and “changing laws and regulations regarding regulatory matters, corporate governance and public disclosures.” “China’s economy differs from the economies of most developed countries in many respects, including the extent of government involvement, level of development, growth rate, control of foreign exchange and allocation of resources,” it summarized.\nAs the next earnings season cranks up, further corporate commentary on regulatory matters will be essential reading.\nExpect more statements of humble compliance. And look out for further signs that increasingly differing regulatory approaches might accelerate the already expected delisting of China’s media-tech and entertainment firms from U.S. stock markets.\n\n\nMore from Variety\n\n\nBeijing's City Government Preps Bill to Regulate Celebrity Drug Use\n'Lord of the Rings' Films Finalize China Re-Release Dates\nChina Launches Hotline to Report Online Comments That 'Distort' History or 'Deny' Its Cultural Excellence\n\n\n\n\nBest of Variety\n\n\n10 Monsters Godzilla Should Fight Next\nWhat's Coming to Disney Plus in April 2021\nEverything Coming to Netflix in April 2021","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344951055,"gmtCreate":1618369799077,"gmtModify":1704709775854,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Coinnnnnnssssss","listText":"Coinnnnnnssssss","text":"Coinnnnnnssssss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344951055","repostId":"344918061","repostType":1,"repost":{"id":344918061,"gmtCreate":1618366330753,"gmtModify":1704709722781,"author":{"id":"3518486575024373","authorId":"3518486575024373","name":"量说交易心法","avatar":"https://static.tigerbbs.com/01eb9766725db457cfd85b4a5c1cc219","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3518486575024373","authorIdStr":"3518486575024373"},"themes":[],"title":"比特幣不是決定Coinbase價值的唯一和最終因素","htmlText":"如果認爲比特幣漲得越厲害，Coinbase就也能漲得越高，我認爲這種觀點是不夠全面的。<a target=\"_blank\" href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>&nbsp;Coinbase是一家爲加密貨幣使用者和投資者提供交易服務的金融技術公司，而不是一家生產比特幣的公司。因此我認爲最終能決定Coinbase價值的，應該是人們對於加密貨幣的認可度和使用頻率。不可否認，從短期來看，比特幣或其他種類的加密貨幣確實能對Coinbase形成較大影響；但從長遠來看，如果一家公司因爲比特幣終有一天漲到頭了而不再具備投資價值，那麼投資這樣的公司的風險是非常高的。比特幣誕生這麼多年了，而且儘管已經漲到6萬美元的水平，但現在依然有不少人認爲這種東西就是騙人割韭菜的。我敢說，就算現在黃金的價格跌到200元RMB/克，比特幣漲到7萬美元，也會有不少人認爲黃金比比特幣更具有投資價值。比特幣是無**資本主義的產物，它因此而一直都不被大多數國家和地區認爲是合法的。不過我個人覺得，相對於美國這類老牌的資本主義國家，那些經濟落後和戰亂的國家地區的人或許會更喜歡比特幣。這看法固然沒有實際依據，我只是從邏輯上來思考：一個國家地區的政權越不穩定，那麼這個地方的法定貨幣就越有可能比紙巾還不值錢。比特幣能夠在2020年開啓一段大牛市，其中一個重要原因就是全球新冠疫情導致不少經濟發展落後的國家地區的政權更不穩定，也導致了全球各地民粹主義的興起，人們似乎變得越來越喜歡無**主義性質的東西。今年年初<a target=\"_blank\" href=\"https://laohu8.com/S/GME\">$遊戲驛站(GME)$</a>&nbsp;的散戶大戰華爾街事件也具有非常濃厚的民粹主義味道，美國中下階層對上級階層的怒火從街頭燃燒","listText":"如果認爲比特幣漲得越厲害，Coinbase就也能漲得越高，我認爲這種觀點是不夠全面的。<a target=\"_blank\" href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>&nbsp;Coinbase是一家爲加密貨幣使用者和投資者提供交易服務的金融技術公司，而不是一家生產比特幣的公司。因此我認爲最終能決定Coinbase價值的，應該是人們對於加密貨幣的認可度和使用頻率。不可否認，從短期來看，比特幣或其他種類的加密貨幣確實能對Coinbase形成較大影響；但從長遠來看，如果一家公司因爲比特幣終有一天漲到頭了而不再具備投資價值，那麼投資這樣的公司的風險是非常高的。比特幣誕生這麼多年了，而且儘管已經漲到6萬美元的水平，但現在依然有不少人認爲這種東西就是騙人割韭菜的。我敢說，就算現在黃金的價格跌到200元RMB/克，比特幣漲到7萬美元，也會有不少人認爲黃金比比特幣更具有投資價值。比特幣是無**資本主義的產物，它因此而一直都不被大多數國家和地區認爲是合法的。不過我個人覺得，相對於美國這類老牌的資本主義國家，那些經濟落後和戰亂的國家地區的人或許會更喜歡比特幣。這看法固然沒有實際依據，我只是從邏輯上來思考：一個國家地區的政權越不穩定，那麼這個地方的法定貨幣就越有可能比紙巾還不值錢。比特幣能夠在2020年開啓一段大牛市，其中一個重要原因就是全球新冠疫情導致不少經濟發展落後的國家地區的政權更不穩定，也導致了全球各地民粹主義的興起，人們似乎變得越來越喜歡無**主義性質的東西。今年年初<a target=\"_blank\" href=\"https://laohu8.com/S/GME\">$遊戲驛站(GME)$</a>&nbsp;的散戶大戰華爾街事件也具有非常濃厚的民粹主義味道，美國中下階層對上級階層的怒火從街頭燃燒","text":"如果認爲比特幣漲得越厲害，Coinbase就也能漲得越高，我認爲這種觀點是不夠全面的。$Coinbase Global, Inc.(COIN)$ Coinbase是一家爲加密貨幣使用者和投資者提供交易服務的金融技術公司，而不是一家生產比特幣的公司。因此我認爲最終能決定Coinbase價值的，應該是人們對於加密貨幣的認可度和使用頻率。不可否認，從短期來看，比特幣或其他種類的加密貨幣確實能對Coinbase形成較大影響；但從長遠來看，如果一家公司因爲比特幣終有一天漲到頭了而不再具備投資價值，那麼投資這樣的公司的風險是非常高的。比特幣誕生這麼多年了，而且儘管已經漲到6萬美元的水平，但現在依然有不少人認爲這種東西就是騙人割韭菜的。我敢說，就算現在黃金的價格跌到200元RMB/克，比特幣漲到7萬美元，也會有不少人認爲黃金比比特幣更具有投資價值。比特幣是無**資本主義的產物，它因此而一直都不被大多數國家和地區認爲是合法的。不過我個人覺得，相對於美國這類老牌的資本主義國家，那些經濟落後和戰亂的國家地區的人或許會更喜歡比特幣。這看法固然沒有實際依據，我只是從邏輯上來思考：一個國家地區的政權越不穩定，那麼這個地方的法定貨幣就越有可能比紙巾還不值錢。比特幣能夠在2020年開啓一段大牛市，其中一個重要原因就是全球新冠疫情導致不少經濟發展落後的國家地區的政權更不穩定，也導致了全球各地民粹主義的興起，人們似乎變得越來越喜歡無**主義性質的東西。今年年初$遊戲驛站(GME)$ 的散戶大戰華爾街事件也具有非常濃厚的民粹主義味道，美國中下階層對上級階層的怒火從街頭燃燒","images":[],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344918061","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342176919,"gmtCreate":1618193808531,"gmtModify":1704707335203,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Datas","listText":"Datas","text":"Datas","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342176919","repostId":"1137529737","repostType":4,"repost":{"id":"1137529737","pubTimestamp":1618184239,"share":"https://ttm.financial/m/news/1137529737?lang=&edition=fundamental","pubTime":"2021-04-12 07:37","market":"us","language":"en","title":"JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1137529737","media":"Barrons","summary":"First-quarter earnings season kicks off this week, beginning as always with results from several of ","content":"<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed&nbsp;by Bank of&nbsp;America and Citigroup on Thursday and Morgan Stanley on Friday.</p><p>Other notable companies reporting this week include industrial&nbsp;supplier&nbsp;Fastenalon Tuesday.Delta Air Lines,PepsiCo,and&nbsp;UnitedHealth Group&nbsp;publish results on Thursday. And&nbsp;Kansas City Southern&nbsp;reports on Friday.&nbsp; A total of 22&nbsp;S&amp;P 500&nbsp;companies report this week, followed by 64 next week.</p><p><img src=\"https://static.tigerbbs.com/ac3c413681d3a9e134223c4d1a02d883\" tg-width=\"1410\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p>It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.</p><p>Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.</p><p><b>Monday 4/12</b></p><p>Nvidia&nbsp;hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.</p><p><b>Tuesday 4/13</b></p><p>Fastenal reports quarterly results.</p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.</p><p><b>The National Federation</b>&nbsp;of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.</p><p><b>Wednesday 4/14</b></p><p><b>Earnings season begins</b>&nbsp;in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.</p><p>First Republic Bankreleases earnings.</p><p><b>Coinbase Global</b>&nbsp;is set to&nbsp;make its Wall Street debut&nbsp;on Wednesday through a direct listing of its shares on the Nasdaq.</p><p><b>The BLS reports</b>&nbsp;export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.</p><p><b>The Federal Reserve</b>&nbsp;releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.</p><p><b>Thursday 4/15</b></p><p>Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.</p><p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.</p><p><b>The Census Bureau</b>&nbsp;reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.</p><p><b>Friday 4/16</b></p><p>Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and&nbsp;State Street&nbsp;hold conference calls to discuss earnings.</p><p><b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.</p><p><b>The Census Bureau</b>&nbsp;reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-12 07:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, ...</p>\n\n<a href=\"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","MS":"摩根士丹利","WFC":"富国银行","NVDA":"英伟达",".DJI":"道琼斯","COIN":"Coinbase Global, Inc.","JPM":"摩根大通",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137529737","content_text":"First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed by Bank of America and Citigroup on Thursday and Morgan Stanley on Friday.Other notable companies reporting this week include industrial supplier Fastenalon Tuesday.Delta Air Lines,PepsiCo,and UnitedHealth Group publish results on Thursday. And Kansas City Southern reports on Friday.  A total of 22 S&P 500 companies report this week, followed by 64 next week.It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.Monday 4/12Nvidia hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.Tuesday 4/13Fastenal reports quarterly results.The Bureau of Labor Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.The National Federation of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.Wednesday 4/14Earnings season begins in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.First Republic Bankreleases earnings.Coinbase Global is set to make its Wall Street debut on Wednesday through a direct listing of its shares on the Nasdaq.The BLS reports export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.The Federal Reserve releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.Thursday 4/15Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.The Census Bureau reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.Friday 4/16Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and State Street hold conference calls to discuss earnings.The University of Michigan releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.The Census Bureau reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.","news_type":1},"isVote":1,"tweetType":1,"viewCount":245,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":342178747,"gmtCreate":1618193785889,"gmtModify":1704707334396,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/342178747","repostId":"1137529737","repostType":4,"repost":{"id":"1137529737","pubTimestamp":1618184239,"share":"https://ttm.financial/m/news/1137529737?lang=&edition=fundamental","pubTime":"2021-04-12 07:37","market":"us","language":"en","title":"JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1137529737","media":"Barrons","summary":"First-quarter earnings season kicks off this week, beginning as always with results from several of ","content":"<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed&nbsp;by Bank of&nbsp;America and Citigroup on Thursday and Morgan Stanley on Friday.</p><p>Other notable companies reporting this week include industrial&nbsp;supplier&nbsp;Fastenalon Tuesday.Delta Air Lines,PepsiCo,and&nbsp;UnitedHealth Group&nbsp;publish results on Thursday. And&nbsp;Kansas City Southern&nbsp;reports on Friday.&nbsp; A total of 22&nbsp;S&amp;P 500&nbsp;companies report this week, followed by 64 next week.</p><p><img src=\"https://static.tigerbbs.com/ac3c413681d3a9e134223c4d1a02d883\" tg-width=\"1410\" tg-height=\"586\" referrerpolicy=\"no-referrer\"></p><p>It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.</p><p>Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.</p><p><b>Monday 4/12</b></p><p>Nvidia&nbsp;hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.</p><p><b>Tuesday 4/13</b></p><p>Fastenal reports quarterly results.</p><p><b>The Bureau of Labor</b>&nbsp;Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.</p><p><b>The National Federation</b>&nbsp;of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.</p><p><b>Wednesday 4/14</b></p><p><b>Earnings season begins</b>&nbsp;in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.</p><p>First Republic Bankreleases earnings.</p><p><b>Coinbase Global</b>&nbsp;is set to&nbsp;make its Wall Street debut&nbsp;on Wednesday through a direct listing of its shares on the Nasdaq.</p><p><b>The BLS reports</b>&nbsp;export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.</p><p><b>The Federal Reserve</b>&nbsp;releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.</p><p><b>Thursday 4/15</b></p><p>Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.</p><p><b>The National Association</b>&nbsp;of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.</p><p><b>The Census Bureau</b>&nbsp;reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.</p><p><b>Friday 4/16</b></p><p>Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and&nbsp;State Street&nbsp;hold conference calls to discuss earnings.</p><p><b>The University of Michigan</b>&nbsp;releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.</p><p><b>The Census Bureau</b>&nbsp;reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.</p>","source":"lsy1601382232898","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>JPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nJPMorgan Chase, Nvidia, Goldman Sachs, Coinbase, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-12 07:37 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, ...</p>\n\n<a href=\"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GS":"高盛","MS":"摩根士丹利","WFC":"富国银行","NVDA":"英伟达",".DJI":"道琼斯","COIN":"Coinbase Global, Inc.","JPM":"摩根大通",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.barrons.com/articles/jpmorgan-chase-nvidia-goldman-sachs-delta-and-other-stocks-for-investors-to-watch-this-week-51618167609?mod=hp_LEAD_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1137529737","content_text":"First-quarter earnings season kicks off this week, beginning as always with results from several of the largest U.S. banks. Goldman Sachs Group, JPMorgan Chase, and Wells Fargo report on Wednesday, followed by Bank of America and Citigroup on Thursday and Morgan Stanley on Friday.Other notable companies reporting this week include industrial supplier Fastenalon Tuesday.Delta Air Lines,PepsiCo,and UnitedHealth Group publish results on Thursday. And Kansas City Southern reports on Friday.  A total of 22 S&P 500 companies report this week, followed by 64 next week.It’s also a busy week for economic data. On Tuesday, the Bureau of Labor Statistics reports the consumer price index for March and the National Federation of Independent Business releases its Small Business Optimism Index for March. Then on Thursday, the Census Bureau reports retail sales data for March. And on Friday, the University of Michigan releases its Consumer Sentiment Index for April.Housing-market data out this week include the National Association of Home Builders’ NAHB/Wells Fargo Housing Market Index for April on Thursday and the Census Bureau’s new residential construction data for March on Friday.Monday 4/12Nvidia hosts its 2021 investor day in conjunction with its GPU Technology conference. Nvidia CEO Jensen Huang will give the keynote address.Tuesday 4/13Fastenal reports quarterly results.The Bureau of Labor Statistics reports the consumer price index for March. Economists forecast a 0.4% monthly increase, matching the February data. The core CPI, which excludes volatile food and energy prices, is expected to rise 0.2%, after edging up 0.1% in February.The National Federation of Independent Business releases its Small Business Optimism Index for March. Consensus estimate is for a 98 reading, higher than February’s 95.8.Wednesday 4/14Earnings season begins in earnest with some of the largest money-center and investment banks reporting. JPMorgan Chase, Wells Fargo, and Goldman Sachs Group release first-quarter results before the market open.First Republic Bankreleases earnings.Coinbase Global is set to make its Wall Street debut on Wednesday through a direct listing of its shares on the Nasdaq.The BLS reports export and import price data for March. Expectations are for a 1% month-over-month rise in export prices, while import prices are seen increasing 0.8%. This compares with gains of 1.6% and 1.3%, respectively, in February.The Federal Reserve releases the beige book for the second of eight times this year. The beige book gathers anecdotal information on current economic conditions from the 12 Fed districts.Thursday 4/15Bank of America,BlackRock,Charles Schwab,Citigroup, Delta Air Lines, PepsiCo,PPG Industries,Truist Financial,U.S. Bancorp,and UnitedHealth Group report quarterly results.The National Association of Home Builders releases its NAHB/Wells Fargo Housing Market Index for April. Economists forecast an 84.5 reading, greater than the March data. Any reading above 50 indicates that home builders are bullish on the housing market for the next six months.The Census Bureau reports retail sales data for March. The consensus call is for consumer spending to rise 1.3% month over month, after declining 3% in February.Friday 4/16Bank of New York Mellon,Citizens Financial Group,Kansas City Southern, Morgan Stanley,PNC Financial Services Group,and State Street hold conference calls to discuss earnings.The University of Michigan releases its Consumer Sentiment Index for April. Expectations are for an 88 reading. March’s 84.9 figure was the highest since a year earlier.The Census Bureau reports new residential construction data for March. Economists forecast a seasonally adjusted annual rate of 1.61 million housing starts, a 13% month-over-month increase.","news_type":1},"isVote":1,"tweetType":1,"viewCount":407,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346702396,"gmtCreate":1618109007315,"gmtModify":1704706673845,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Looks like a small change","listText":"Looks like a small change","text":"Looks like a small change","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346702396","repostId":"2126037533","repostType":2,"repost":{"id":"2126037533","pubTimestamp":1618076039,"share":"https://ttm.financial/m/news/2126037533?lang=&edition=fundamental","pubTime":"2021-04-11 01:33","market":"us","language":"en","title":"Why Alibaba Just Got Hit With A Record $2.87 Billion Fine In China","url":"https://stock-news.laohu8.com/highlight/detail?id=2126037533","media":"Benzinga","summary":"The regulatory troubles that have beset Jack Ma since November may be nearing their end, culminating","content":"<html><body><img height=\"400\" src=\"https://s1.yimg.com/uu/api/res/1.2/1QbRcjHdl1hkSE2AKF11ZA--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/Benzinga/eb54451020e9d0578226acc5d005aba9\" title=\"\" width=\"600\"/>\n<p>The regulatory troubles that have beset Jack Ma since November may be nearing their end, culminating in a hefty fine slapped on the Chinese tech entrepreneur's biggest brand.</p>\n<p><strong>What Happened: </strong>China fined Ma's <strong>Alibaba Group Holding Ltd</strong> (NYSE: BABA) a record $2.8 billion after a monopoly probe found that the company had abused its dominant market position, Reuters reported. </p>\n<p>The regulator also ordered Alibaba to make \"thorough rectifications\" to strengthen internal compliance and protect consumer rights.</p>\n<p>The Chinese government said that Alibaba had used anti-competitive practices in its online retail market.</p>\n<p>According to state-run Xinhua news agency, the penalty came from the State Administration for Market Regulation, which had been investigating it since December. The size of the penalty was determined after regulators decided to fine Alibaba 4% of its 2019 sales of 455.7 billion yuan. </p>\n<p>The fine is more than double the $975 million fine that China issued to <strong>QUALCOMM, Inc</strong>. (NASDAQ: QCOM) in 2015 for anticompetitive practices. </p>\n<p>In a press statement, Alibaba said, \"Alibaba accepts the penalty with sincerity and will ensure its compliance with determination.\" </p>\n<p>\"To serve its responsibility to society, Alibaba will operate in accordance with the law with utmost diligence, continue to strengthen its compliance systems and build on growth through innovation,\" the company added. </p>\n<p>Alibaba will hold a conference call on Monday to discuss the penalty.</p>\n<p><strong>Why It Matters:</strong> The outspoken Ma has long been the most visible figure of China's economic rise and stands out in a culture where getting attention at high levels is perilous. Alibaba, in particular, has been under scrutiny since last October when Ma criticized China's banking sector as operating with a “pawnshop mentality.\" The government scuttled the planned blockbuster Ant Group IPO shortly after Ma made the comments.</p>\n<p>Chinese regulators are increasing their pressure on Ma and his powerhouse companies, Ant Group Co., Alibaba Group Holding Ltd. and Alibaba's media holdings.</p>\n<p>Last year, the People's Bank of China, the country's central bank, instructed Ant Group to \"rectify\" how it does business.</p>\n<p>Ma's Alibaba Group and other leading tech companies in China have been scrutinized by regulators over their growing influence in the country.</p>\n<p>Technology firms in China have been hiring legal experts and setting aside funds for potential fines amid the antitrust and data privacy crackdown by regulators. </p>\n<p><em>Photo courtesy: World Economic Forum via Wikimedia</em></p>\n<p><strong>See more from Benzinga</strong></p>\n<ul>\n<li>Click here for options trades from Benzinga</li>\n<li>Why Authorities Are Putting The Brakes on Johnson &amp; Johnson's Vaccine In Several States</li>\n<li>'Godzilla vs. Kong' Smashes Pandemic-Era Box Office With .5 Million Debut</li>\n</ul>\n<p><i>© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.</i></p></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Why Alibaba Just Got Hit With A Record $2.87 Billion Fine In China</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhy Alibaba Just Got Hit With A Record $2.87 Billion Fine In China\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-11 01:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/why-alibaba-just-got-hit-173359344.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The regulatory troubles that have beset Jack Ma since November may be nearing their end, culminating in a hefty fine slapped on the Chinese tech entrepreneur's biggest brand.\nWhat Happened: China ...</p>\n\n<a href=\"https://finance.yahoo.com/news/why-alibaba-just-got-hit-173359344.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/rj0.vxWdr2ZOri157wj6CA--~B/aD00MDA7dz02MDA7YXBwaWQ9eXRhY2h5b24-/https://s.yimg.com/uu/api/res/1.2/QRkK0W5sfipEah7gQFJ4Rw--~B/aD00MDA7dz02MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/Benzinga/eb54451020e9d0578226acc5d005aba9","relate_stocks":{"09988":"阿里巴巴-W","BABA":"阿里巴巴","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"https://finance.yahoo.com/news/why-alibaba-just-got-hit-173359344.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2126037533","content_text":"The regulatory troubles that have beset Jack Ma since November may be nearing their end, culminating in a hefty fine slapped on the Chinese tech entrepreneur's biggest brand.\nWhat Happened: China fined Ma's Alibaba Group Holding Ltd (NYSE: BABA) a record $2.8 billion after a monopoly probe found that the company had abused its dominant market position, Reuters reported. \nThe regulator also ordered Alibaba to make \"thorough rectifications\" to strengthen internal compliance and protect consumer rights.\nThe Chinese government said that Alibaba had used anti-competitive practices in its online retail market.\nAccording to state-run Xinhua news agency, the penalty came from the State Administration for Market Regulation, which had been investigating it since December. The size of the penalty was determined after regulators decided to fine Alibaba 4% of its 2019 sales of 455.7 billion yuan. \nThe fine is more than double the $975 million fine that China issued to QUALCOMM, Inc. (NASDAQ: QCOM) in 2015 for anticompetitive practices. \nIn a press statement, Alibaba said, \"Alibaba accepts the penalty with sincerity and will ensure its compliance with determination.\" \n\"To serve its responsibility to society, Alibaba will operate in accordance with the law with utmost diligence, continue to strengthen its compliance systems and build on growth through innovation,\" the company added. \nAlibaba will hold a conference call on Monday to discuss the penalty.\nWhy It Matters: The outspoken Ma has long been the most visible figure of China's economic rise and stands out in a culture where getting attention at high levels is perilous. Alibaba, in particular, has been under scrutiny since last October when Ma criticized China's banking sector as operating with a “pawnshop mentality.\" The government scuttled the planned blockbuster Ant Group IPO shortly after Ma made the comments.\nChinese regulators are increasing their pressure on Ma and his powerhouse companies, Ant Group Co., Alibaba Group Holding Ltd. and Alibaba's media holdings.\nLast year, the People's Bank of China, the country's central bank, instructed Ant Group to \"rectify\" how it does business.\nMa's Alibaba Group and other leading tech companies in China have been scrutinized by regulators over their growing influence in the country.\nTechnology firms in China have been hiring legal experts and setting aside funds for potential fines amid the antitrust and data privacy crackdown by regulators. \nPhoto courtesy: World Economic Forum via Wikimedia\nSee more from Benzinga\n\nClick here for options trades from Benzinga\nWhy Authorities Are Putting The Brakes on Johnson & Johnson's Vaccine In Several States\n'Godzilla vs. Kong' Smashes Pandemic-Era Box Office With .5 Million Debut\n\n© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":375813687,"gmtCreate":1619321981049,"gmtModify":1704722438104,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"When the dust settles?&nbsp;","listText":"When the dust settles?&nbsp;","text":"When the dust settles?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/375813687","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":671,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370779741,"gmtCreate":1618632289783,"gmtModify":1704713645792,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"True true true","listText":"True true true","text":"True true true","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/370779741","repostId":"1165321503","repostType":4,"repost":{"id":"1165321503","pubTimestamp":1618588143,"share":"https://ttm.financial/m/news/1165321503?lang=&edition=fundamental","pubTime":"2021-04-16 23:49","market":"us","language":"en","title":"Fed’s Waller says the economy is ‘ready to rip’ but policy should stay put","url":"https://stock-news.laohu8.com/highlight/detail?id=1165321503","media":"cnbc","summary":"KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.Howe","content":"<div>\n<p>KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.However, he said there’s still “no reason to be pulling the plug” on the heavy levels of policy support ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.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>Fed’s Waller says the economy is ‘ready to rip’ but policy should stay put</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\">\nFed’s Waller says the economy is ‘ready to rip’ but policy should stay put\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 23:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.However, he said there’s still “no reason to be pulling the plug” on the heavy levels of policy support ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯"},"source_url":"https://www.cnbc.com/2021/04/16/feds-waller-says-the-economy-is-ready-to-rip-but-policy-should-stay-put.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1165321503","content_text":"KEY POINTSFed Governor Christopher Waller told CNBC on Friday that the economy “is ready to rip.However, he said there’s still “no reason to be pulling the plug” on the heavy levels of policy support the central bank is providing.Waller said he also expects inflationary pressures to be temporary, though he forecasts 2021 to run at 2.5%, well above the Fed’s 2% target.Federal Reserve Governor Christopher Waller said Friday he sees the U.S. economy as set to take off, though not at a fast enough pace that the central bank should start tightening policy.\"I think the economy is ready to rip,\" Waller told CNBC'sSteve Liesmanduring a \"Squawk on the Street\" interview. \"There's still more to do on that, but I think everyone's getting a lot more comfortable with having the virus under control and we're starting to see it in the form of economic activity.\"Those comments came amid a decidedly upward move in economic data.In March alone, nonfarmpayrolls jumped by 916,000, retail sales sawa 9.8% stimulus-fueled boom, and multiple manufacturing gauges reached their highest levels in years.There are further indications that job growth continued into April, with jobless claims last week tumbling to 576,000, easily the lowest level since the early days of the pandemic.Coupled all that witha vaccination pacein excess of the 3 million a day, and it adds up to a strong outlook, Waller said.“We can get the virus pretty much under control. We get 70% of the population vaccinated, then all the fundamentals are there for good, strong growth that we left back in January, February of 2020,” he said. “We’ve still got room to catch up to where we were. We’re making up for lost ground.”‘No reason to be pulling the plug’The economy officially entered recession in February 2020, according to the National Bureau of Economic Research, which makes the official call on contractions and expansions. While the U.S. is poised for another quarter of strong growth, gross domestic product is still running a bit below where it was prior to the Covid-19 onset.That’s part of the reason Waller concurs with his fellow central bankers in seeingthe need to keep policy loose. The Fed is currently holding short-term borrowing rates near zero while it purchases at least $120 billion of bonds each month.In a major policy shift last year, the Fed pledged that it will not raise rates until it sees full and inclusive employment, and is willing to tolerate inflation a bit above the traditional 2% target until it gets there. Fed officials have expressed concern about the uneven nature of the recovery, particularly regarding those at the lower end of the income spectrum.“We’ve got to make that up first,” Waller said. “Other parts of the economy seem to have really come back. We still have relatively high unemployment rates, particularly for minorities, and so we’ve still got a long way to go. There’s no reason to be pulling the plug on our support till we’re really through this.”Waller added that he thinks inflationary pressures that have begun to show up are likely temporary, a view widely held at the Fed. The consumer price index rose 2.6% in March from a year ago.Waller said he expects the Fed’s preferred inflation gauge based on personal consumption expenditures could run around 2.5% for 2021.","news_type":1},"isVote":1,"tweetType":1,"viewCount":209,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359290558,"gmtCreate":1616401071674,"gmtModify":1704793515156,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Taking a step back?&nbsp;","listText":"Taking a step back?&nbsp;","text":"Taking a step back?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359290558","repostId":"2121121586","repostType":4,"repost":{"id":"2121121586","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1616400714,"share":"https://ttm.financial/m/news/2121121586?lang=&edition=fundamental","pubTime":"2021-03-22 16:11","market":"us","language":"en","title":"Google payments chief quits after 15 years at company","url":"https://stock-news.laohu8.com/highlight/detail?id=2121121586","media":"Reuters","summary":"March 22 (Reuters) - Senior Google executive Caesar Sengupta, head of the tech giant’s payment initi","content":"<p>March 22 (Reuters) - Senior Google executive Caesar Sengupta, head of the tech giant’s payment initiatives, said on Monday he was leaving the company next month, after 15 years.</p>\n<p>“I remain very positive about Google’s future but it’s time for me to see if I can ride without training wheels,” Sengupta, vice president and general manager of payments and the ‘Next Billion Users’ initiative, said in a LinkedIn post.</p>\n<p>He was also one of the key people behind the launch and success of Google Pay in India and helped the payment app’s relaunch in the U.S. and Singapore. The payment facility is now used by over 150 million users in 30 countries.</p>\n<p>“My last day at Google will be April 30th. I haven’t decided what I will start next,” said Sengupta, who is based in Singapore.</p>\n<p>“...Through his time at Google, Caesar has played a key role in starting, building and leading initiatives such as ChromeOS, Next Billion Users and Google Pay. We are excited to see what he builds next and wish him the best in his new journey,” a Google Spokesperson said in an emailed statement.</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>Google payments chief quits after 15 years at company</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\">\nGoogle payments chief quits after 15 years at company\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-03-22 16:11</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>March 22 (Reuters) - Senior Google executive Caesar Sengupta, head of the tech giant’s payment initiatives, said on Monday he was leaving the company next month, after 15 years.</p>\n<p>“I remain very positive about Google’s future but it’s time for me to see if I can ride without training wheels,” Sengupta, vice president and general manager of payments and the ‘Next Billion Users’ initiative, said in a LinkedIn post.</p>\n<p>He was also one of the key people behind the launch and success of Google Pay in India and helped the payment app’s relaunch in the U.S. and Singapore. The payment facility is now used by over 150 million users in 30 countries.</p>\n<p>“My last day at Google will be April 30th. I haven’t decided what I will start next,” said Sengupta, who is based in Singapore.</p>\n<p>“...Through his time at Google, Caesar has played a key role in starting, building and leading initiatives such as ChromeOS, Next Billion Users and Google Pay. We are excited to see what he builds next and wish him the best in his new journey,” a Google Spokesperson said in an emailed statement.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2121121586","content_text":"March 22 (Reuters) - Senior Google executive Caesar Sengupta, head of the tech giant’s payment initiatives, said on Monday he was leaving the company next month, after 15 years.\n“I remain very positive about Google’s future but it’s time for me to see if I can ride without training wheels,” Sengupta, vice president and general manager of payments and the ‘Next Billion Users’ initiative, said in a LinkedIn post.\nHe was also one of the key people behind the launch and success of Google Pay in India and helped the payment app’s relaunch in the U.S. and Singapore. The payment facility is now used by over 150 million users in 30 countries.\n“My last day at Google will be April 30th. I haven’t decided what I will start next,” said Sengupta, who is based in Singapore.\n“...Through his time at Google, Caesar has played a key role in starting, building and leading initiatives such as ChromeOS, Next Billion Users and Google Pay. We are excited to see what he builds next and wish him the best in his new journey,” a Google Spokesperson said in an emailed statement.","news_type":1},"isVote":1,"tweetType":1,"viewCount":64,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":340391584,"gmtCreate":1617336667748,"gmtModify":1704698948749,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"LI AUTO vs NIO vs Xpeng.... Who will prevail","listText":"LI AUTO vs NIO vs Xpeng.... Who will prevail","text":"LI AUTO vs NIO vs Xpeng.... Who will prevail","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/340391584","repostId":"1168930514","repostType":4,"repost":{"id":"1168930514","pubTimestamp":1617332876,"share":"https://ttm.financial/m/news/1168930514?lang=&edition=fundamental","pubTime":"2021-04-02 11:07","market":"us","language":"en","title":"Li Auto Inc. March 2021 Delivery Update","url":"https://stock-news.laohu8.com/highlight/detail?id=1168930514","media":"globenewswire","summary":"BEIJING, China, April 02, 2021  -- Li Auto Inc.  , an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to rob","content":"<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.</p><p>As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.</p><p><b>About Li Auto Inc.</b></p><p>Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.</p><p>For more information, please visit:<i>http://ir.lixiang.com</i>.</p>","source":"lsy1573717531661","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Li Auto Inc. March 2021 Delivery Update</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLi Auto Inc. March 2021 Delivery Update\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-02 11:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html><strong>globenewswire</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered...</p>\n\n<a href=\"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LI":"理想汽车"},"source_url":"http://www.globenewswire.com/news-release/2021/04/02/2203765/0/en/Li-Auto-Inc-March-2021-Delivery-Update.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168930514","content_text":"BEIJING, China, April 02, 2021 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI), an innovator in China’s new energy vehicle market, today announced that the Company delivered 4,900 Li ONEs in March 2021, representing a 238.6 % year-over-year increase. This brought deliveries for the first quarter of 2021 to 12,579, up 334.4 % year over year.As of March 31, 2021, the Company had 65 retail stores covering 49 cities, and 135 servicing centers and Li Auto-authorized body and paint shops operating in 98 cities. In response to robust demand for Li ONEs and in anticipation of new model launches in 2022 and beyond, Li Auto plans to further bolster its direct sales and servicing network.About Li Auto Inc.Li Auto Inc. is an innovator in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and refined products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. Its first model, Li ONE, is a six-seat, large premium electric SUV equipped with a range extension system and cutting-edge smart vehicle solutions. The Company started volume production of Li ONE in November 2019 and delivered over 33,500 Li ONEs as of December 31, 2020. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions. Beyond Li ONE, the Company aims to expand its product line by developing new vehicles, including BEVs and EREVs, to target a broader consumer base.For more information, please visit:http://ir.lixiang.com.","news_type":1},"isVote":1,"tweetType":1,"viewCount":4,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372433000,"gmtCreate":1619232069800,"gmtModify":1704721611960,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Go boy","listText":"Go boy","text":"Go boy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/372433000","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":743,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372497415,"gmtCreate":1619231929237,"gmtModify":1704721610491,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"One after another","listText":"One after another","text":"One after another","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372497415","repostId":"1170805005","repostType":2,"repost":{"id":"1170805005","pubTimestamp":1619181499,"share":"https://ttm.financial/m/news/1170805005?lang=&edition=fundamental","pubTime":"2021-04-23 20:38","market":"us","language":"en","title":"Alibaba: The End Hasn't Come","url":"https://stock-news.laohu8.com/highlight/detail?id=1170805005","media":"seekingalpha","summary":"Alibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.None of them seems to be too material, though, and the fear that has gripped the market has resulted in a quite inexpensive valuation.Alibaba is a high-growth mega-corp that trades like a low-growth company. This provides considerable upside potential in the long run.Alibabahas widely underperformed the broad market and most of its tech peers over the last six months, mainly due t","content":"<p><b>Summary</b></p>\n<ul>\n <li>Alibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.</li>\n <li>None of them seems to be too material, though, and the fear that has gripped the market has resulted in a quite inexpensive valuation.</li>\n <li>Alibaba is a high-growth mega-corp that trades like a low-growth company. This provides considerable upside potential in the long run.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/e9e22edb23ea75da683065efacc8a826\" tg-width=\"768\" tg-height=\"512\"><span>Photo by Andrew Burton/Getty Images News via Getty Images</span></p>\n<p><b>Article Thesis</b></p>\n<p>Alibaba(NYSE:BABA)has widely underperformed the broad market and most of its tech peers over the last six months, mainly due to worries about regulatory pressures, anti-trust legalization, etc. Most of those issues have been resolved now, and it looks like Alibaba's value wasn't really damaged to a large degree. Alibaba remains a leading tech &amp; consumer play in high-growth China that continues to trade at a clear discount compared to most US-based tech peers. There are risks, but Alibaba seems attractive at current prices.</p>\n<p><b>Hundreds Of Billions Destroyed</b></p>\n<p>Looking at Alibaba's market capitalization over the last year, there is a very clear decline in how the market values the company over time:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8b2945ae7abd07b0f49f495052b1d48c\" tg-width=\"635\" tg-height=\"403\"><span>Data by YCharts</span></p>\n<p>From a peak in fall 2020, Alibaba's market cap has declined by 25% or a little more than $200 billion to date. The reasoning for that is not based on any type of fundamental slow-down, revenue decline, or similar, showcased by Alibaba's excellent results during the most recent quarters:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/eeea73c74f3890fadff9c321d70fdd47\" tg-width=\"1280\" tg-height=\"960\"><span>Source: Investor presentation</span></p>\n<p>Not only has Alibaba continued to deliver revenue growth of well above 30% since then, but the company also continued to make progress in attractive high-growth spaces such as cloud computing. Alibaba's cloud unit broke even for the first time since inception as its scale is increasing, which bodes well for the future bottom-line contribution of this unit. Last but not least, Alibaba's free cash flow generation remained strong, and its margins remained attractive.</p>\n<p>Thus the big drop in the value the market ascribes to Alibaba's shares must have been caused by something else, which is market sentiment and psychology. Some negative news around Ant Financial's postponed IPO made the market fear looming regulatory pressures on Alibaba. This was exacerbated by anti-trust and anti-monopoly investigations. These were, of course, negatives, but not to the extent that the market priced them in.</p>\n<p>Looking at Alibaba's market capitalization, which declined by more than $200 billion over the last six months, one could assume that regulators would look to impose a fine of dozens or even hundreds of billions of dollars on Alibaba. That was, however, not the outcome of the investigations.</p>\n<p><b>Things Are Clearing Up For Alibaba</b></p>\n<p>Instead, Chinese regulators gave a slap on the wrist, seeking a$2.75 billion finefrom Alibaba. That sounds like a lot, but it really isn't all that much when we consider Alibaba's immense size:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9777ed30a0bc29e8fdcd0373fe98e366\" tg-width=\"640\" tg-height=\"160\"><span>Source: Alibaba filing</span></p>\n<p>Alibaba generated cash of $15.8 billion through its operations during the most recent quarter, or a little over $5 billion a month. The fine that was imposed on the company thus is equal to about two weeks' worth of cash flows. Is that a positive? No, it's a negative. Is it a large negative? In fact, it seems barely noticeable compared to Alibaba's size. We can also look at how this fine compares to Alibaba's cash holding of more than $50 billion, and, once again, we are talking about a very minor fine relative to how the company is doing. What could be a company-breaking fine for any mid-sized business will barely leave a dent in Alibaba's cash holding, and with this issue being resolved now, it is no wonder that&nbsp;shares have jumped&nbsp;following the ruling.</p>\n<p>The other theme that had pressured Alibaba's shares, Ant Financial's regulatory issues, has more or less been resolved as well. Ant Financial will be&nbsp;turned into a financial holding company, there will be some additional oversight, and there were some forced divestments. But this didn't break Ant Financial at all, and it seems questionable whether the hit to Alibaba's value was really all that material, as Alibaba is only a minority holder in Ant Financial anyways.</p>\n<p>Again, these developments that occurred over the last six months aren't positives, but they are not extremely large negatives. A $200+ billion drop in Alibaba's market capitalization seemed way overblown. The good thing about market overreactions, however, is that one can use them to get attractive entry prices (in case markets are overreacting to the downside) or attractive exit prices (in cases where markets are too exuberant).</p>\n<p>In Alibaba's case, the best time to load up on shares was when they traded for around $220 several times over the last six months. They have risen to a somewhat higher level since then, partially due to the market's realization that the $2.75 billion fine wasn't all that material, but Alibaba's shares are still looking quite inexpensive even now.</p>\n<p><b>Alibaba Is An Outstanding Value Among Tech Mega-Caps</b></p>\n<p>Looking at the largest companies in the world, by market capitalization, we see that most of them are tech companies, or at least tech-leaning, such as Tesla (TSLA). Alibaba stands out among those due to a quite low valuation:</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/35e905980ec6f35fdbb0069b2386e4dd\" tg-width=\"635\" tg-height=\"521\"><span>Data by YCharts</span></p>\n<p>While others trade at 30-40 times net earnings mostly, with Amazon (AMZN) and especially Tesla trading at even higher valuations, Alibaba is valued at a very inexpensive 21 times forward earnings. This also represents a discount compared to broad US equity markets, which are trading for around 25 times forward earnings right now - at least partially due to the heavy weight of companies such as Apple (AAPL), Amazon, and Tesla.</p>\n<p>One may be inclined to conclude that Alibaba is trading at the lowest valuation among those companies due to a below-average growth outlook or below-average fundamentals, but that isn't true.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/059736c2aa39c317943026b469331d00\" tg-width=\"635\" tg-height=\"504\"><span>Data by YCharts</span></p>\n<p>While the other mega-caps have grown by 5%-40% in 2020, with an average of around 20%, Alibaba has delivered revenue growth of 35%-50% in each&nbsp;quarter of the current fiscal year. Clearly, Alibaba is growing faster than the average mega-cap, and most analysts expect that this will not change any time soon.</p>\n<p>Thanks to exposure to the high-growth, online-focused consumer market in its home country China, combined with excellent growth in additional franchises such as its cloud computing unit, Alibaba should be able to deliver compelling growth for the foreseeable future. Alibaba is an excellent play for the ongoing expansion of the Chinese economy, which just delivered&nbsp;record growth&nbsp;on a year-over-year basis.</p>\n<p>With a clean balance sheet thanks to a $50+ billion cash position, strong free cash flows, and attractive margins, Alibaba also seems like a very appropriate choice from a quality perspective. To me, the company doesn't look inferior to the major US tech companies on that basis.</p>\n<p><b>Risks To Consider</b></p>\n<p>There are, of course, still risks that one should consider before investing. It is possible that regulators demand more change from Alibaba, or impose additional fines, although that seems relatively unlikely for now as the current anti-monopoly investigation has just been concluded. Nevertheless, Alibaba is of course dependent to some degree on the goodwill of Chinese regulators and politicians.</p>\n<p>On top of that, due to a consumer-focused business model, Alibaba would seem quite vulnerable to any external shock that hits Chinese consumers hard. Since the country has weathered the current pandemic quite well and continues to deliver above-average economic growth rates, I don't think this is a likely scenario in the foreseeable future, though.</p>\n<p>I don't see Alibaba as an especially risky investment at all, but these factors should still be considered before making an investment, as should other potential risks that could affect the company. One should mention, however, that the top US companies are also, at least to some extent, dependent on regulatory goodwill and could see an impact from an economic downturn, thus Alibaba is not necessarily a much riskier choice than Facebook, for example.</p>\n<p><b>Takeaway</b></p>\n<p>Alibaba is a high-growth player with a strong market position in a country that continues to deliver above-average economic growth. Alibaba has strong fundamentals, and yet it trades at a quite inexpensive valuation, both on an absolute basis as well as compared to how other mega-caps are valued.</p>\n<p>Alibaba isn't a risk-less stock, but the risks seem quite bearable to me. At just 17 times 2022's net earnings, Alibaba looks attractive to me. Since the Ant Financial and anti-monopoly issues have cleared up, I believe that Alibaba's shares could rise considerably from the current level, as sentiment hopefully improves. It would be great to see management encourage such an upward move by being more aggressive with share repurchases, but there is no guarantee for that.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alibaba: The End Hasn't Come</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\">\nAlibaba: The End Hasn't Come\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 20:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4420852-alibaba-the-end-hasnt-come><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nAlibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.\nNone of them seems to be too material, though, and the fear that has ...</p>\n\n<a href=\"https://seekingalpha.com/article/4420852-alibaba-the-end-hasnt-come\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://seekingalpha.com/article/4420852-alibaba-the-end-hasnt-come","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1170805005","content_text":"Summary\n\nAlibaba's shares are down a lot from last year's highs, as a reaction to the market worrying about a range of issues.\nNone of them seems to be too material, though, and the fear that has gripped the market has resulted in a quite inexpensive valuation.\nAlibaba is a high-growth mega-corp that trades like a low-growth company. This provides considerable upside potential in the long run.\n\nPhoto by Andrew Burton/Getty Images News via Getty Images\nArticle Thesis\nAlibaba(NYSE:BABA)has widely underperformed the broad market and most of its tech peers over the last six months, mainly due to worries about regulatory pressures, anti-trust legalization, etc. Most of those issues have been resolved now, and it looks like Alibaba's value wasn't really damaged to a large degree. Alibaba remains a leading tech & consumer play in high-growth China that continues to trade at a clear discount compared to most US-based tech peers. There are risks, but Alibaba seems attractive at current prices.\nHundreds Of Billions Destroyed\nLooking at Alibaba's market capitalization over the last year, there is a very clear decline in how the market values the company over time:\nData by YCharts\nFrom a peak in fall 2020, Alibaba's market cap has declined by 25% or a little more than $200 billion to date. The reasoning for that is not based on any type of fundamental slow-down, revenue decline, or similar, showcased by Alibaba's excellent results during the most recent quarters:\nSource: Investor presentation\nNot only has Alibaba continued to deliver revenue growth of well above 30% since then, but the company also continued to make progress in attractive high-growth spaces such as cloud computing. Alibaba's cloud unit broke even for the first time since inception as its scale is increasing, which bodes well for the future bottom-line contribution of this unit. Last but not least, Alibaba's free cash flow generation remained strong, and its margins remained attractive.\nThus the big drop in the value the market ascribes to Alibaba's shares must have been caused by something else, which is market sentiment and psychology. Some negative news around Ant Financial's postponed IPO made the market fear looming regulatory pressures on Alibaba. This was exacerbated by anti-trust and anti-monopoly investigations. These were, of course, negatives, but not to the extent that the market priced them in.\nLooking at Alibaba's market capitalization, which declined by more than $200 billion over the last six months, one could assume that regulators would look to impose a fine of dozens or even hundreds of billions of dollars on Alibaba. That was, however, not the outcome of the investigations.\nThings Are Clearing Up For Alibaba\nInstead, Chinese regulators gave a slap on the wrist, seeking a$2.75 billion finefrom Alibaba. That sounds like a lot, but it really isn't all that much when we consider Alibaba's immense size:\nSource: Alibaba filing\nAlibaba generated cash of $15.8 billion through its operations during the most recent quarter, or a little over $5 billion a month. The fine that was imposed on the company thus is equal to about two weeks' worth of cash flows. Is that a positive? No, it's a negative. Is it a large negative? In fact, it seems barely noticeable compared to Alibaba's size. We can also look at how this fine compares to Alibaba's cash holding of more than $50 billion, and, once again, we are talking about a very minor fine relative to how the company is doing. What could be a company-breaking fine for any mid-sized business will barely leave a dent in Alibaba's cash holding, and with this issue being resolved now, it is no wonder that shares have jumped following the ruling.\nThe other theme that had pressured Alibaba's shares, Ant Financial's regulatory issues, has more or less been resolved as well. Ant Financial will be turned into a financial holding company, there will be some additional oversight, and there were some forced divestments. But this didn't break Ant Financial at all, and it seems questionable whether the hit to Alibaba's value was really all that material, as Alibaba is only a minority holder in Ant Financial anyways.\nAgain, these developments that occurred over the last six months aren't positives, but they are not extremely large negatives. A $200+ billion drop in Alibaba's market capitalization seemed way overblown. The good thing about market overreactions, however, is that one can use them to get attractive entry prices (in case markets are overreacting to the downside) or attractive exit prices (in cases where markets are too exuberant).\nIn Alibaba's case, the best time to load up on shares was when they traded for around $220 several times over the last six months. They have risen to a somewhat higher level since then, partially due to the market's realization that the $2.75 billion fine wasn't all that material, but Alibaba's shares are still looking quite inexpensive even now.\nAlibaba Is An Outstanding Value Among Tech Mega-Caps\nLooking at the largest companies in the world, by market capitalization, we see that most of them are tech companies, or at least tech-leaning, such as Tesla (TSLA). Alibaba stands out among those due to a quite low valuation:\nData by YCharts\nWhile others trade at 30-40 times net earnings mostly, with Amazon (AMZN) and especially Tesla trading at even higher valuations, Alibaba is valued at a very inexpensive 21 times forward earnings. This also represents a discount compared to broad US equity markets, which are trading for around 25 times forward earnings right now - at least partially due to the heavy weight of companies such as Apple (AAPL), Amazon, and Tesla.\nOne may be inclined to conclude that Alibaba is trading at the lowest valuation among those companies due to a below-average growth outlook or below-average fundamentals, but that isn't true.\nData by YCharts\nWhile the other mega-caps have grown by 5%-40% in 2020, with an average of around 20%, Alibaba has delivered revenue growth of 35%-50% in each quarter of the current fiscal year. Clearly, Alibaba is growing faster than the average mega-cap, and most analysts expect that this will not change any time soon.\nThanks to exposure to the high-growth, online-focused consumer market in its home country China, combined with excellent growth in additional franchises such as its cloud computing unit, Alibaba should be able to deliver compelling growth for the foreseeable future. Alibaba is an excellent play for the ongoing expansion of the Chinese economy, which just delivered record growth on a year-over-year basis.\nWith a clean balance sheet thanks to a $50+ billion cash position, strong free cash flows, and attractive margins, Alibaba also seems like a very appropriate choice from a quality perspective. To me, the company doesn't look inferior to the major US tech companies on that basis.\nRisks To Consider\nThere are, of course, still risks that one should consider before investing. It is possible that regulators demand more change from Alibaba, or impose additional fines, although that seems relatively unlikely for now as the current anti-monopoly investigation has just been concluded. Nevertheless, Alibaba is of course dependent to some degree on the goodwill of Chinese regulators and politicians.\nOn top of that, due to a consumer-focused business model, Alibaba would seem quite vulnerable to any external shock that hits Chinese consumers hard. Since the country has weathered the current pandemic quite well and continues to deliver above-average economic growth rates, I don't think this is a likely scenario in the foreseeable future, though.\nI don't see Alibaba as an especially risky investment at all, but these factors should still be considered before making an investment, as should other potential risks that could affect the company. One should mention, however, that the top US companies are also, at least to some extent, dependent on regulatory goodwill and could see an impact from an economic downturn, thus Alibaba is not necessarily a much riskier choice than Facebook, for example.\nTakeaway\nAlibaba is a high-growth player with a strong market position in a country that continues to deliver above-average economic growth. Alibaba has strong fundamentals, and yet it trades at a quite inexpensive valuation, both on an absolute basis as well as compared to how other mega-caps are valued.\nAlibaba isn't a risk-less stock, but the risks seem quite bearable to me. At just 17 times 2022's net earnings, Alibaba looks attractive to me. Since the Ant Financial and anti-monopoly issues have cleared up, I believe that Alibaba's shares could rise considerably from the current level, as sentiment hopefully improves. It would be great to see management encourage such an upward move by being more aggressive with share repurchases, but there is no guarantee for that.","news_type":1},"isVote":1,"tweetType":1,"viewCount":338,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370779537,"gmtCreate":1618632262329,"gmtModify":1704713645147,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370779537","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></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>Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"</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\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"source_url":"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":178,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370770455,"gmtCreate":1618632202377,"gmtModify":1704713644016,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Wow... It's worth so much","listText":"Wow... It's worth so much","text":"Wow... It's worth so much","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370770455","repostId":"1113132904","repostType":2,"repost":{"id":"1113132904","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1618557385,"share":"https://ttm.financial/m/news/1113132904?lang=&edition=fundamental","pubTime":"2021-04-16 15:16","market":"us","language":"en","title":"Grab considering secondary Singapore listing after U.S. SPAC merger - sources","url":"https://stock-news.laohu8.com/highlight/detail?id=1113132904","media":"Reuters","summary":"Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing i","content":"<p>Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said.</p><p>Listing on Singapore Exchange&nbsp;would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares.</p><p>Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.</p><p>The potential Singapore listing plans come after Grab this week agreed a $40 billion merger with Altimeter Growth Corp., a special purpose acquisition company (SPAC), making this the world's biggest SPAC deal.</p><p>Grab, which began as a ride-hailing business in 2012, now operates in eight countries and more than 400 cities and has expanded into food and grocery deliveries, as well as digital payments. Last year, it won a digital banking licence in Singapore.</p><p>It wasn't clear how much Grab might aim to raise in any secondary listing, with financial terms and timetable still in the early stages of consideration, the sources said.</p><p>The company with the top valuation on the Singapore bourse is bank DBS Group Ltd(DBSM.SI), currently worth about S$74 billion ($55.4 billion) by capitalisation.</p><p>Grab and SGX declined to comment on the listing plans.</p><p>One of the sources said that while Grab has sufficient cash reserves and could end up raising only a small amount on SGX, a listing would mark a big win for the exchange.</p><p>SGX has mainly only seen large IPOs from real estate investment trusts. Hindered by a small base of retail investors in the city-state, it has struggled with low liquidity and valuations, forcing a spate of delistings and also discouraging big-ticket listings from regional high-growth companies.</p><p>The Hong Kong bourse, however, has benefited from diplomatic and political tensions between the United States and China that have led many Chinese firms to seek secondary listings in Hong Kong. Global fund managers have also been swapping China holdings from Wall Street to Hong Kong.</p><p>SGX has taken many steps to try to bulk up its stock market in recent years, and under Chief Executive Loh Boon Chye, who was appointed six years ago, it has acquired firms to transform itself into a multi-asset exchange.</p><p>Currently, there are 28 companies with a secondary listing on SGX, including Malaysia's IHH Healthcare Bhd(IHHH.KL)and Top Glove Corp Bhd&nbsp;and Hong Kong conglomerate Jardine Matheson Holdings.</p><p>Last year, AMTD International became the first NYSE-listed firm to list on SGX. It also became the first to take advantage of a dual-class share structure in Singapore.</p><p>For Grab, as part of the SPAC merger, it's raising $4 billion from global investors including BlackRock, Temasek Holdings, Fidelity International, Malaysia's Permodalan Nasional Bhd and some of Indonesia's richest family groups.</p><p>($1 = 1.3351 Singapore dollars)</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Grab considering secondary Singapore listing after U.S. SPAC merger - sources</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\">\nGrab considering secondary Singapore listing after U.S. SPAC merger - sources\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-16 15:16</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said.</p><p>Listing on Singapore Exchange&nbsp;would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares.</p><p>Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.</p><p>The potential Singapore listing plans come after Grab this week agreed a $40 billion merger with Altimeter Growth Corp., a special purpose acquisition company (SPAC), making this the world's biggest SPAC deal.</p><p>Grab, which began as a ride-hailing business in 2012, now operates in eight countries and more than 400 cities and has expanded into food and grocery deliveries, as well as digital payments. Last year, it won a digital banking licence in Singapore.</p><p>It wasn't clear how much Grab might aim to raise in any secondary listing, with financial terms and timetable still in the early stages of consideration, the sources said.</p><p>The company with the top valuation on the Singapore bourse is bank DBS Group Ltd(DBSM.SI), currently worth about S$74 billion ($55.4 billion) by capitalisation.</p><p>Grab and SGX declined to comment on the listing plans.</p><p>One of the sources said that while Grab has sufficient cash reserves and could end up raising only a small amount on SGX, a listing would mark a big win for the exchange.</p><p>SGX has mainly only seen large IPOs from real estate investment trusts. Hindered by a small base of retail investors in the city-state, it has struggled with low liquidity and valuations, forcing a spate of delistings and also discouraging big-ticket listings from regional high-growth companies.</p><p>The Hong Kong bourse, however, has benefited from diplomatic and political tensions between the United States and China that have led many Chinese firms to seek secondary listings in Hong Kong. Global fund managers have also been swapping China holdings from Wall Street to Hong Kong.</p><p>SGX has taken many steps to try to bulk up its stock market in recent years, and under Chief Executive Loh Boon Chye, who was appointed six years ago, it has acquired firms to transform itself into a multi-asset exchange.</p><p>Currently, there are 28 companies with a secondary listing on SGX, including Malaysia's IHH Healthcare Bhd(IHHH.KL)and Top Glove Corp Bhd&nbsp;and Hong Kong conglomerate Jardine Matheson Holdings.</p><p>Last year, AMTD International became the first NYSE-listed firm to list on SGX. It also became the first to take advantage of a dual-class share structure in Singapore.</p><p>For Grab, as part of the SPAC merger, it's raising $4 billion from global investors including BlackRock, Temasek Holdings, Fidelity International, Malaysia's Permodalan Nasional Bhd and some of Indonesia's richest family groups.</p><p>($1 = 1.3351 Singapore dollars)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BLK":"贝莱德","SFTBY":"软银集团","UBER":"优步","BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1113132904","content_text":"Grab Holdings, Southeast Asia's ride-hailing to delivery giant, is considering a secondary listing in its home market of Singapore after completing a Nasdaq listing via a $40 billion SPAC merger, three sources familiar with the matter said.Listing on Singapore Exchange would enable Grab to have an investor base close to where its regional business is based, the people said, potentially offering its customers, drivers and merchant partners easier access to trade its shares.Grab, a household name across Southeast Asia, is in the early stages of considering a secondary listing in the city-state, said the sources, who declined to be identified as they were not authorised to speak about the matter.The potential Singapore listing plans come after Grab this week agreed a $40 billion merger with Altimeter Growth Corp., a special purpose acquisition company (SPAC), making this the world's biggest SPAC deal.Grab, which began as a ride-hailing business in 2012, now operates in eight countries and more than 400 cities and has expanded into food and grocery deliveries, as well as digital payments. Last year, it won a digital banking licence in Singapore.It wasn't clear how much Grab might aim to raise in any secondary listing, with financial terms and timetable still in the early stages of consideration, the sources said.The company with the top valuation on the Singapore bourse is bank DBS Group Ltd(DBSM.SI), currently worth about S$74 billion ($55.4 billion) by capitalisation.Grab and SGX declined to comment on the listing plans.One of the sources said that while Grab has sufficient cash reserves and could end up raising only a small amount on SGX, a listing would mark a big win for the exchange.SGX has mainly only seen large IPOs from real estate investment trusts. Hindered by a small base of retail investors in the city-state, it has struggled with low liquidity and valuations, forcing a spate of delistings and also discouraging big-ticket listings from regional high-growth companies.The Hong Kong bourse, however, has benefited from diplomatic and political tensions between the United States and China that have led many Chinese firms to seek secondary listings in Hong Kong. Global fund managers have also been swapping China holdings from Wall Street to Hong Kong.SGX has taken many steps to try to bulk up its stock market in recent years, and under Chief Executive Loh Boon Chye, who was appointed six years ago, it has acquired firms to transform itself into a multi-asset exchange.Currently, there are 28 companies with a secondary listing on SGX, including Malaysia's IHH Healthcare Bhd(IHHH.KL)and Top Glove Corp Bhd and Hong Kong conglomerate Jardine Matheson Holdings.Last year, AMTD International became the first NYSE-listed firm to list on SGX. It also became the first to take advantage of a dual-class share structure in Singapore.For Grab, as part of the SPAC merger, it's raising $4 billion from global investors including BlackRock, Temasek Holdings, Fidelity International, Malaysia's Permodalan Nasional Bhd and some of Indonesia's richest family groups.($1 = 1.3351 Singapore dollars)","news_type":1},"isVote":1,"tweetType":1,"viewCount":522,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359666982,"gmtCreate":1616393982446,"gmtModify":1704793437572,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Chiong chiong chiong","listText":"Chiong chiong chiong","text":"Chiong chiong chiong","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/359666982","repostId":"2121712557","repostType":4,"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359668965,"gmtCreate":1616393833957,"gmtModify":1704793437249,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Tourism. Pls come back","listText":"Tourism. Pls come back","text":"Tourism. Pls come back","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/359668965","repostId":"2121125260","repostType":4,"repost":{"id":"2121125260","pubTimestamp":1616392717,"share":"https://ttm.financial/m/news/2121125260?lang=&edition=fundamental","pubTime":"2021-03-22 13:58","market":"us","language":"en","title":"Korea Travel App Eyes Dual IPO Listing at $4 Billion-Plus Value","url":"https://stock-news.laohu8.com/highlight/detail?id=2121125260","media":"Bloomberg","summary":"(Bloomberg) -- South Korea’s largest travel app Yanolja Co. is in talks with banks to go public thro","content":"<p>(Bloomberg) -- South Korea’s largest travel app Yanolja Co. is in talks with banks to go public through a dual listing in Seoul and overseas, people with knowledge of the matter said, joining a growing cohort of startups seeking higher valuations abroad.</p>\n<p>The company is aiming for a value of more than $4 billion, <a href=\"https://laohu8.com/S/AONE\">one</a> of the people said, confirming previous reports in Korean media. Yanolja, which is also the world’s largest property management software provider after <a href=\"https://laohu8.com/S/OCLCF\">Oracle Corp.</a>, is still exploring options and the size and location of its IPO have not yet been finalized, according to the people, who asked not to be identified as the discussions are private.</p>\n<p>Yanolja, founded by janitor Lee Su-jin in 2005 originally as a short-stay hotel-booking service, is hoping to tap resurgent interest in Korea’s tech scene. The move comes after e-commerce champion Coupang Inc.’s successful debut on the New York Stock Exchange this month. Its valuation briefly pushed past $100 billion, affirming a belief at home that going public on bigger markets like the U.S. may produce higher valuations.</p>\n<p>“It is true that we are receiving various requests and offers related to an overseas listing,” Yanolja told Bloomberg News in a statement. “As it could be an opportunity to be recognized as a leading company that has capabilities to manage global business operations and solution technologies, we are open to reviewing an overseas listing along with a domestic IPO.”</p>\n<p>Recent high-profile startup exits, such as Woowa Brothers Corp.’s $4 billion sale to Delivery Hero SE and Match Group Inc.’s $1.7 billion takeover of Hyperconnect Inc., signaled growing interest among foreign investors in Korea’s tech sector. That’s spurred hopes that startups can tap overseas markets to avoid the so-called Korean discount, which investors apply because of longstanding concerns about governance and transparency in the country.</p>\n<p>Backed by Singaporean sovereign wealth fund GIC Pte and <a href=\"https://laohu8.com/S/BKNG\">Booking Holdings</a> Inc., Yanolja has been expanding its business to include leisure activities and transportation reservations along with hotel bookings. With its acquisition of Indian lodgings management platform eZee Technosys in 2019, the startup says it is now the world’s largest cloud-based hotel management solution provider. The company is expected to report its sales grew in 2020 -- despite the coronavirus outbreak’s effects on the travel industry -- when it reports full-year earnings this month.</p>\n<p>Yanolja announced in November that it selected Mirae Asset Daewoo Co. as a lead arranger along with Samsung Securities Co. as a co-underwriter with a goal to go public this year. The startup has a Singaporean subsidiary.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Korea Travel App Eyes Dual IPO Listing at $4 Billion-Plus Value</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\">\nKorea Travel App Eyes Dual IPO Listing at $4 Billion-Plus Value\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-22 13:58 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/korea-travel-app-eyes-dual-042115616.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- South Korea’s largest travel app Yanolja Co. is in talks with banks to go public through a dual listing in Seoul and overseas, people with knowledge of the matter said, joining a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/korea-travel-app-eyes-dual-042115616.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/69286bc44305c5f0898adb0b3066c63b","relate_stocks":{"BKNG":"Booking Holdings","CPNG":"Coupang, Inc.","ORCL":"甲骨文","MTCH":"Match Group, Inc."},"source_url":"https://finance.yahoo.com/news/korea-travel-app-eyes-dual-042115616.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2121125260","content_text":"(Bloomberg) -- South Korea’s largest travel app Yanolja Co. is in talks with banks to go public through a dual listing in Seoul and overseas, people with knowledge of the matter said, joining a growing cohort of startups seeking higher valuations abroad.\nThe company is aiming for a value of more than $4 billion, one of the people said, confirming previous reports in Korean media. Yanolja, which is also the world’s largest property management software provider after Oracle Corp., is still exploring options and the size and location of its IPO have not yet been finalized, according to the people, who asked not to be identified as the discussions are private.\nYanolja, founded by janitor Lee Su-jin in 2005 originally as a short-stay hotel-booking service, is hoping to tap resurgent interest in Korea’s tech scene. The move comes after e-commerce champion Coupang Inc.’s successful debut on the New York Stock Exchange this month. Its valuation briefly pushed past $100 billion, affirming a belief at home that going public on bigger markets like the U.S. may produce higher valuations.\n“It is true that we are receiving various requests and offers related to an overseas listing,” Yanolja told Bloomberg News in a statement. “As it could be an opportunity to be recognized as a leading company that has capabilities to manage global business operations and solution technologies, we are open to reviewing an overseas listing along with a domestic IPO.”\nRecent high-profile startup exits, such as Woowa Brothers Corp.’s $4 billion sale to Delivery Hero SE and Match Group Inc.’s $1.7 billion takeover of Hyperconnect Inc., signaled growing interest among foreign investors in Korea’s tech sector. That’s spurred hopes that startups can tap overseas markets to avoid the so-called Korean discount, which investors apply because of longstanding concerns about governance and transparency in the country.\nBacked by Singaporean sovereign wealth fund GIC Pte and Booking Holdings Inc., Yanolja has been expanding its business to include leisure activities and transportation reservations along with hotel bookings. With its acquisition of Indian lodgings management platform eZee Technosys in 2019, the startup says it is now the world’s largest cloud-based hotel management solution provider. The company is expected to report its sales grew in 2020 -- despite the coronavirus outbreak’s effects on the travel industry -- when it reports full-year earnings this month.\nYanolja announced in November that it selected Mirae Asset Daewoo Co. as a lead arranger along with Samsung Securities Co. as a co-underwriter with a goal to go public this year. The startup has a Singaporean subsidiary.","news_type":1},"isVote":1,"tweetType":1,"viewCount":15,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107453475,"gmtCreate":1620531673897,"gmtModify":1704344685377,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Pinduoduo pinduoduo woo woo","listText":"Pinduoduo pinduoduo woo woo","text":"Pinduoduo pinduoduo woo woo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/107453475","repostId":"2133500411","repostType":2,"repost":{"id":"2133500411","pubTimestamp":1620396300,"share":"https://ttm.financial/m/news/2133500411?lang=&edition=fundamental","pubTime":"2021-05-07 22:05","market":"us","language":"en","title":"3 Reasons Pinduoduo Stock Fell by More Than 30% in 2021","url":"https://stock-news.laohu8.com/highlight/detail?id=2133500411","media":"Motley Fool","summary":"The Chinese e-commerce company faces some short-term challenges, but its long-term prospects remain intact.","content":"<p>Chinese e-commerce company <b>Pinduoduo</b> (NASDAQ:PDD) was <a href=\"https://laohu8.com/S/AONE\">one</a> of 2020's best-performing stocks, rallying by more than 300% during the year. The surge in online shopping driven by pandemic lockdown orders and social distancing efforts benefited major e-commerce players like <b>Sea Limited</b> and <b>Amazon</b>. Pinduoduo, too, rose to the occasion, gaining major ground on rivals <b>Alibaba</b> (NYSE:BABA) and <b>JD.com</b>. Its revenue grew by 97% year over year in 2020.</p><p>But Pinduoduo's share-price climb seems to have run out of steam, despite continued strength for some other tech bellwethers. <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> share prices even hit an all-time high last week, underscoring that there's sustained demand among investors for quality tech names. Pinduoduo stock, on the other hand, is now trading down about 37% from its peak in mid-February.</p><p>Here's why the company and its stock may have fallen out of favor.</p><p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F624680%2Fwoman-shrugging-confused-uncertain-square.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"593\" referrerpolicy=\"no-referrer\"></p><p>Image source: Getty Images.</p><h2>3 reasons Pinduoduo stock has tumbled in 2021</h2><p>Pinduoduo's emergence as a major force in e-commerce has been nothing short of remarkable. In just five short years, it went from an unknown start-up to China's biggest e-commerce platform, with more active buyers than Alibaba. Revenue grew at a stunning rate and hit 59.5 &nbsp;billion yuan ($9.2 billion) in 2020, almost doubling&nbsp;year over year.</p><p>The company owes much of its success to founder Zheng Huang, a data scientist and entrepreneur who was part of the team that set up <b>Alphabet</b>'s Google China. But less than a year after he relinquished his role as CEO (on July 1, 2020) -- a move that was itself shocking -- Huang also recently stepped down as chairman of the board. That latest move may have spooked investors further -- the stock price is down 17% since the announcement on March 17.</p><p>But that's not the only reason for concern. Chinese regulators have launched wide-ranging antitrust probes into that nation's large tech companies. The government just fined Alibaba $2.8 billion for breaking anti-monopoly laws. <b>Tencent</b> and <b>Baidu</b> were hit with much smaller fines&nbsp;in March for making acquisitions without notifying authorities.</p><p>There's no clear evidence -- so far -- that Pinduoduo is involved in anti-competitive activities. But what's clear is that China is tightening its grip over its local tech titans, hurting their growth prospects. As <a href=\"https://laohu8.com/S/AONE.U\">one</a> of China's biggest e-commerce companies, Pinduoduo will need to adapt to those challenges.</p><p>In addition to these two reasons, the tide in the stock market is turning against high-growth tech companies. With many Americans beginning to resume their pre-pandemic ways, investors are selling the hypergrowth tech stocks that flourished during 2020, taking their profits, and shifting their bets into \"reopening\" plays like <b>Wells Fargo</b> and <b>Dine Brands Global</b>. Some of last year's hottest names like <b>Tesla</b> and <b><a href=\"https://laohu8.com/S/SNOW\">Snowflake</a></b> are down by 20% to 50% from all-time highs. As Pinduoduo was one of 2020's best-performing stocks, there's a high chance that some of its recent declines can be attributed to it getting caught up in the wider tech sell-off.</p><h2>What's next for Pinduoduo?</h2><p>Huang's abrupt exit from day-to-day operations at Pinduoduo has left investors with a clouded outlook heading into 2021. But it's worth noting that he remains the company's biggest shareholder. As a result, he will likely continue providing some guidance to the company. What's more, he has left Pinduoduo's management in good hands. New CEO Lei Chen -- who has worked with Huang since 2011 -- has been a key contributor to growing it into the powerhouse that it is today.</p><p>Over the next few years, Pinduoduo is well-positioned to expand further on the back of rising customer spending. Its users spend just 2,115 yuan ($300) a year on the platform, still low compared to what the average customer spends on Alibaba. Beyond e-commerce, Pinduoduo has a vision to build a \"worldwide presence in agriculture,\" which could dramatically widen its addressable market. Agriculture-related gross merchandise value (GMV) nearly doubled from 136 billion yuan in 2019 to 270 billion yuan in 2020. Management expects to hit 1 trillion yuan (around $150 billion) in annual agriculture by 2025.</p><p>In other words, Pinduoduo is just getting started -- and growth-oriented investors should take note.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>3 Reasons Pinduoduo Stock Fell by More Than 30% in 2021</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Reasons Pinduoduo Stock Fell by More Than 30% in 2021\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-07 22:05 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/07/3-reasons-pinduoduo-stock-fell-by-more-than-30/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Chinese e-commerce company Pinduoduo (NASDAQ:PDD) was one of 2020's best-performing stocks, rallying by more than 300% during the year. The surge in online shopping driven by pandemic lockdown orders ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/07/3-reasons-pinduoduo-stock-fell-by-more-than-30/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09988":"阿里巴巴-W","PDD":"拼多多","BABA":"阿里巴巴","QNETCN":"纳斯达克中美互联网老虎指数"},"source_url":"https://www.fool.com/investing/2021/05/07/3-reasons-pinduoduo-stock-fell-by-more-than-30/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2133500411","content_text":"Chinese e-commerce company Pinduoduo (NASDAQ:PDD) was one of 2020's best-performing stocks, rallying by more than 300% during the year. The surge in online shopping driven by pandemic lockdown orders and social distancing efforts benefited major e-commerce players like Sea Limited and Amazon. Pinduoduo, too, rose to the occasion, gaining major ground on rivals Alibaba (NYSE:BABA) and JD.com. Its revenue grew by 97% year over year in 2020.But Pinduoduo's share-price climb seems to have run out of steam, despite continued strength for some other tech bellwethers. Facebook share prices even hit an all-time high last week, underscoring that there's sustained demand among investors for quality tech names. Pinduoduo stock, on the other hand, is now trading down about 37% from its peak in mid-February.Here's why the company and its stock may have fallen out of favor.Image source: Getty Images.3 reasons Pinduoduo stock has tumbled in 2021Pinduoduo's emergence as a major force in e-commerce has been nothing short of remarkable. In just five short years, it went from an unknown start-up to China's biggest e-commerce platform, with more active buyers than Alibaba. Revenue grew at a stunning rate and hit 59.5  billion yuan ($9.2 billion) in 2020, almost doubling year over year.The company owes much of its success to founder Zheng Huang, a data scientist and entrepreneur who was part of the team that set up Alphabet's Google China. But less than a year after he relinquished his role as CEO (on July 1, 2020) -- a move that was itself shocking -- Huang also recently stepped down as chairman of the board. That latest move may have spooked investors further -- the stock price is down 17% since the announcement on March 17.But that's not the only reason for concern. Chinese regulators have launched wide-ranging antitrust probes into that nation's large tech companies. The government just fined Alibaba $2.8 billion for breaking anti-monopoly laws. Tencent and Baidu were hit with much smaller fines in March for making acquisitions without notifying authorities.There's no clear evidence -- so far -- that Pinduoduo is involved in anti-competitive activities. But what's clear is that China is tightening its grip over its local tech titans, hurting their growth prospects. As one of China's biggest e-commerce companies, Pinduoduo will need to adapt to those challenges.In addition to these two reasons, the tide in the stock market is turning against high-growth tech companies. With many Americans beginning to resume their pre-pandemic ways, investors are selling the hypergrowth tech stocks that flourished during 2020, taking their profits, and shifting their bets into \"reopening\" plays like Wells Fargo and Dine Brands Global. Some of last year's hottest names like Tesla and Snowflake are down by 20% to 50% from all-time highs. As Pinduoduo was one of 2020's best-performing stocks, there's a high chance that some of its recent declines can be attributed to it getting caught up in the wider tech sell-off.What's next for Pinduoduo?Huang's abrupt exit from day-to-day operations at Pinduoduo has left investors with a clouded outlook heading into 2021. But it's worth noting that he remains the company's biggest shareholder. As a result, he will likely continue providing some guidance to the company. What's more, he has left Pinduoduo's management in good hands. New CEO Lei Chen -- who has worked with Huang since 2011 -- has been a key contributor to growing it into the powerhouse that it is today.Over the next few years, Pinduoduo is well-positioned to expand further on the back of rising customer spending. Its users spend just 2,115 yuan ($300) a year on the platform, still low compared to what the average customer spends on Alibaba. Beyond e-commerce, Pinduoduo has a vision to build a \"worldwide presence in agriculture,\" which could dramatically widen its addressable market. Agriculture-related gross merchandise value (GMV) nearly doubled from 136 billion yuan in 2019 to 270 billion yuan in 2020. Management expects to hit 1 trillion yuan (around $150 billion) in annual agriculture by 2025.In other words, Pinduoduo is just getting started -- and growth-oriented investors should take note.","news_type":1},"isVote":1,"tweetType":1,"viewCount":569,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":107204651,"gmtCreate":1620491793073,"gmtModify":1704344333795,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/107204651","repostId":"1186544816","repostType":2,"isVote":1,"tweetType":1,"viewCount":567,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":371013256,"gmtCreate":1618891478375,"gmtModify":1704716442996,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Not again","listText":"Not again","text":"Not again","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371013256","repostId":"2128959388","repostType":2,"repost":{"id":"2128959388","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1618836916,"share":"https://ttm.financial/m/news/2128959388?lang=&edition=fundamental","pubTime":"2021-04-19 20:55","market":"us","language":"en","title":"China's market regulator investigates Alibaba joint venture","url":"https://stock-news.laohu8.com/highlight/detail?id=2128959388","media":"Reuters","summary":"BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-co","content":"<p>BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-commerce giant Alibaba Group&nbsp;and Minmetals Development, Minmetals said on Monday, amid a broad antitrust clampdown on internet firms.</p><p>Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.</p><p>Alibaba declined to comment.</p><p>The investigation follows the record&nbsp;$2.75 billion antitrust fineimposed on Alibaba earlier this month.</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>China's market regulator investigates Alibaba joint venture</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\">\nChina's market regulator investigates Alibaba joint venture\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-04-19 20:55</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-commerce giant Alibaba Group&nbsp;and Minmetals Development, Minmetals said on Monday, amid a broad antitrust clampdown on internet firms.</p><p>Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.</p><p>Alibaba declined to comment.</p><p>The investigation follows the record&nbsp;$2.75 billion antitrust fineimposed on Alibaba earlier this month.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"600058":"五矿发展","BABA":"阿里巴巴","09988":"阿里巴巴-W"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2128959388","content_text":"BEIJING, April 19 (Reuters) - China’s market regulator is investigating a joint venture between e-commerce giant Alibaba Group and Minmetals Development, Minmetals said on Monday, amid a broad antitrust clampdown on internet firms.Minmetals said in a statement that it received a notice from the State Administration for Market Regulation in recent days about an investigation into the joint venture formed in 2015, in which Alibaba transferred its 44% stake to an unrelated firm in 2019.Alibaba declined to comment.The investigation follows the record $2.75 billion antitrust fineimposed on Alibaba earlier this month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370770268,"gmtCreate":1618632175754,"gmtModify":1704713643529,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Great to iron things out","listText":"Great to iron things out","text":"Great to iron things out","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370770268","repostId":"2127583465","repostType":2,"repost":{"id":"2127583465","pubTimestamp":1618566649,"share":"https://ttm.financial/m/news/2127583465?lang=&edition=fundamental","pubTime":"2021-04-16 17:50","market":"us","language":"en","title":"After Alibaba’s Record Penalty Regulatory Doubts Haunt China’s Media Tech Sector","url":"https://stock-news.laohu8.com/highlight/detail?id=2127583465","media":"Variety","summary":"News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced","content":"<html><body><img height=\"420\" src=\"https://s.yimg.com/uu/api/res/1.2/dqje5sw15tSdYBHJG5xvDA--/cT03NTthcHBpZD15dmlkZW9mZWVkczs-/https://media.zenfs.com/en/variety_finance_606/931d7af1b200f78083b559ef2aa3ba27\" title=\"Alibaba-AP21100337076793-AP-cr-res\" width=\"630\"/>\n<p>News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced a huge relief rally. The company’s value surged by more than $30 billion in Monday stock trading.</p>\n<p>But continuing share market volatility suggests that there is ongoing worry about further regulation and the path forward for China’s media and tech giants.</p>\n<p>Hong Kong’s tech share index, which includes the principal stock listing of China’s largest company Tencent, and now also includes the secondary equity listings of Alibaba, Baidu and Bilibili, is deep in bear market territory. Closing at 8,232 on Friday, the tech index is 1% lower on the week, 3% lower for the year to date, and fully 25% down compared with its peak on Feb. 17, 2021.</p>\n<p>Chinese competition regulators put the tech sector on notice in the last quarter of 2020 and announced their formal anti-trust probe of Alibaba on Christmas Eve. That the result of the investigation could be delivered so quickly and the scale of the fine, which was only 4% of revenue rather than the maximum 10%, were reasons for Alibaba shares’ brief rebound.</p>\n<p>“To regulate is to ensure better development, and the act of tugging at the sleeve is also an act of love,” said the People’s Daily, the mainland government’s most important media mouthpiece. The government wants “healthy and continuous development of the country’s internet industry” and the fine did not deny the “important role of internet platforms in economic and social development,” the paper said.</p>\n<p>Alibaba said that it accepted its punishment and knew of no other government actions against it. That was another cause for relief. There has been speculation in recent months that Alibaba might be forced to break up or dispose of its huge media and entertainment holdings.</p>\n<p>“Despite the record fine amount, we think this should lift a major overhang on BABA and shift the market’s focus back to fundamentals,” investment bank <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> said in a research note published on Sunday.</p>\n<p>But the relief proved short-lived.</p>\n<p>There is no guarantee that Alibaba’s attempts at compliance over a three-year probation period will necessarily be acceptable to the regulators.</p>\n<p>And, underlining the notion that the whole tech industry remains in the government crosshairs, it soon emerged that the bosses of 34 Chinese tech firms had been summoned for a quiet dressing down. They were told to heed Alibaba’s punishment as a warning to them all.</p>\n<p>Those in attendance are reported to have included reps from Baidu, Sina Weibo, iQIYI, Bytedance (the unlisted owner of Douyin and TikTok), Bilibili, Kuaishou, and Suning, the electronics retailer that owns streaming service PPTV.</p>\n<p>Throughout the recent financial earnings reporting season, the issue of regulation cast a shadow over the sector. Despite China’s V-shaped economic recovery, and strong results from digital sector leaders, caution seemed to be as prevalent as references to COVID-19.</p>\n<p>Tencent, which many industry watchers regarded as the next most vulnerable to government action, played down record profits. It even described working with regulators as the “strategic focus” of its fintech business. Tencent founder Pony Ma confirmed that he had been visited the State Administration of Market Regulation for a chat.</p>\n<p>The government has most notably acted on monopoly practices such as demanding exclusivity from merchants.</p>\n<p>It has also punished firms for not clearing mergers and acquisitions activity with regulators before deals are completed (12 were fined in March), suggesting that the government expects to micromanage private sector entrepreneurialism, and that it may reserve some activities for state-owned enterprises.</p>\n<p>The anti-monopoly moves curb some of the “network effect” benefits that companies derive from achieving huge scale and being able to share client data across a wide range of group businesses. The clearest example of enforced fragmentation was the mandatary restructuring of Alibaba’s financial arm Ant Group.</p>\n<p>In October, Ant’s blockbuster IPO was halted dead in its tracks. This month, Ant was busted down to being an unsexy holding company. Its valuation may have halved.</p>\n<p>China’s new Personal Information Protection Law (PIPL) has some similarities to the General Data Protection Regulation system approved by the European Union in 2018: such as requiring companies to obtain user consent for data gathering and the user’s right to review such information. But, in reinforcing rules about transferring data outside China, it adds another dimension to Chinese state-control and bolsters regulation as a form of international competition. (The U.S. does not yet have a general data protection law like the E.U. or China.)</p>\n<p>Beyond corporate M&amp;A and data privacy, there are other areas that may come under the Chinese regulator’s gaze. There have been warning signals on live-streaming, news-gathering, online advertising, IP, gaming, and money-laundering. And, as has been shown with the Fan Bingbing incident of the past and Jack Ma and Alibaba’s recent travails, cutting celebrities down to size is standard issue Communist Party policy.</p>\n<p>Even a well-respected and established giant like Baidu can look terribly fragile when it is required to spell out in black and white the risks that surround it. Its global offering document, published in March for its secondary share listing in Hong Kong, contains 72 pages of risk warnings and makes for daunting reading. In listed concerns including: “changes in U.S. and international trade policies, particularly with regard to China”; “uncertain” (Chinese) interpretation of its corporate structure; “complex and evolving</p>\n<p>Chinese and international laws and regulations regarding privacy and data protection”; and “changing laws and regulations regarding regulatory matters, corporate governance and public disclosures.”<br/> “China’s economy differs from the economies of most developed countries in many respects, including the extent of government involvement, level of development, growth rate, control of foreign exchange and allocation of resources,” it summarized.</p>\n<p>As the next earnings season cranks up, further corporate commentary on regulatory matters will be essential reading.</p>\n<p>Expect more statements of humble compliance. And look out for further signs that increasingly differing regulatory approaches might accelerate the already expected delisting of China’s media-tech and entertainment firms from U.S. stock markets.</p>\n<div>\n<div>\n<strong>More from Variety</strong>\n</div>\n<ul>\n<li>Beijing's City Government Preps Bill to Regulate Celebrity Drug Use</li>\n<li>'Lord of the Rings' Films Finalize China Re-Release Dates</li>\n<li>China Launches Hotline to Report Online Comments That 'Distort' History or 'Deny' Its Cultural Excellence</li>\n</ul>\n</div>\n<div>\n<div>\n<strong>Best of Variety</strong>\n</div>\n<ul>\n<li>10 Monsters Godzilla Should Fight Next</li>\n<li>What's Coming to Disney Plus in April 2021</li>\n<li>Everything Coming to Netflix in April 2021</li>\n</ul>\n</div></body></html>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>After Alibaba’s Record Penalty Regulatory Doubts Haunt China’s Media Tech Sector</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\">\nAfter Alibaba’s Record Penalty Regulatory Doubts Haunt China’s Media Tech Sector\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 17:50 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/alibaba-record-penalty-regulatory-doubts-095049997.html><strong>Variety</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced a huge relief rally. The company’s value surged by more than $30 billion in Monday stock trading.\n...</p>\n\n<a href=\"https://finance.yahoo.com/news/alibaba-record-penalty-regulatory-doubts-095049997.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://s.yimg.com/uu/api/res/1.2/QFydXt7JIbRwX8OWQPKpsw--~B/aD01NjM7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://s.yimg.com/uu/api/res/1.2/Y6fyd3EwWQz5yp2IvvZP0g--~B/aD01NjM7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/variety_finance_606/05e2c19f7ea28724f7560aa5ad4df408","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://finance.yahoo.com/news/alibaba-record-penalty-regulatory-doubts-095049997.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2127583465","content_text":"News over the weekend of a record breaking $2.8 billion fine for Chinese tech giant Alibaba produced a huge relief rally. The company’s value surged by more than $30 billion in Monday stock trading.\nBut continuing share market volatility suggests that there is ongoing worry about further regulation and the path forward for China’s media and tech giants.\nHong Kong’s tech share index, which includes the principal stock listing of China’s largest company Tencent, and now also includes the secondary equity listings of Alibaba, Baidu and Bilibili, is deep in bear market territory. Closing at 8,232 on Friday, the tech index is 1% lower on the week, 3% lower for the year to date, and fully 25% down compared with its peak on Feb. 17, 2021.\nChinese competition regulators put the tech sector on notice in the last quarter of 2020 and announced their formal anti-trust probe of Alibaba on Christmas Eve. That the result of the investigation could be delivered so quickly and the scale of the fine, which was only 4% of revenue rather than the maximum 10%, were reasons for Alibaba shares’ brief rebound.\n“To regulate is to ensure better development, and the act of tugging at the sleeve is also an act of love,” said the People’s Daily, the mainland government’s most important media mouthpiece. The government wants “healthy and continuous development of the country’s internet industry” and the fine did not deny the “important role of internet platforms in economic and social development,” the paper said.\nAlibaba said that it accepted its punishment and knew of no other government actions against it. That was another cause for relief. There has been speculation in recent months that Alibaba might be forced to break up or dispose of its huge media and entertainment holdings.\n“Despite the record fine amount, we think this should lift a major overhang on BABA and shift the market’s focus back to fundamentals,” investment bank Morgan Stanley said in a research note published on Sunday.\nBut the relief proved short-lived.\nThere is no guarantee that Alibaba’s attempts at compliance over a three-year probation period will necessarily be acceptable to the regulators.\nAnd, underlining the notion that the whole tech industry remains in the government crosshairs, it soon emerged that the bosses of 34 Chinese tech firms had been summoned for a quiet dressing down. They were told to heed Alibaba’s punishment as a warning to them all.\nThose in attendance are reported to have included reps from Baidu, Sina Weibo, iQIYI, Bytedance (the unlisted owner of Douyin and TikTok), Bilibili, Kuaishou, and Suning, the electronics retailer that owns streaming service PPTV.\nThroughout the recent financial earnings reporting season, the issue of regulation cast a shadow over the sector. Despite China’s V-shaped economic recovery, and strong results from digital sector leaders, caution seemed to be as prevalent as references to COVID-19.\nTencent, which many industry watchers regarded as the next most vulnerable to government action, played down record profits. It even described working with regulators as the “strategic focus” of its fintech business. Tencent founder Pony Ma confirmed that he had been visited the State Administration of Market Regulation for a chat.\nThe government has most notably acted on monopoly practices such as demanding exclusivity from merchants.\nIt has also punished firms for not clearing mergers and acquisitions activity with regulators before deals are completed (12 were fined in March), suggesting that the government expects to micromanage private sector entrepreneurialism, and that it may reserve some activities for state-owned enterprises.\nThe anti-monopoly moves curb some of the “network effect” benefits that companies derive from achieving huge scale and being able to share client data across a wide range of group businesses. The clearest example of enforced fragmentation was the mandatary restructuring of Alibaba’s financial arm Ant Group.\nIn October, Ant’s blockbuster IPO was halted dead in its tracks. This month, Ant was busted down to being an unsexy holding company. Its valuation may have halved.\nChina’s new Personal Information Protection Law (PIPL) has some similarities to the General Data Protection Regulation system approved by the European Union in 2018: such as requiring companies to obtain user consent for data gathering and the user’s right to review such information. But, in reinforcing rules about transferring data outside China, it adds another dimension to Chinese state-control and bolsters regulation as a form of international competition. (The U.S. does not yet have a general data protection law like the E.U. or China.)\nBeyond corporate M&A and data privacy, there are other areas that may come under the Chinese regulator’s gaze. There have been warning signals on live-streaming, news-gathering, online advertising, IP, gaming, and money-laundering. And, as has been shown with the Fan Bingbing incident of the past and Jack Ma and Alibaba’s recent travails, cutting celebrities down to size is standard issue Communist Party policy.\nEven a well-respected and established giant like Baidu can look terribly fragile when it is required to spell out in black and white the risks that surround it. Its global offering document, published in March for its secondary share listing in Hong Kong, contains 72 pages of risk warnings and makes for daunting reading. In listed concerns including: “changes in U.S. and international trade policies, particularly with regard to China”; “uncertain” (Chinese) interpretation of its corporate structure; “complex and evolving\nChinese and international laws and regulations regarding privacy and data protection”; and “changing laws and regulations regarding regulatory matters, corporate governance and public disclosures.” “China’s economy differs from the economies of most developed countries in many respects, including the extent of government involvement, level of development, growth rate, control of foreign exchange and allocation of resources,” it summarized.\nAs the next earnings season cranks up, further corporate commentary on regulatory matters will be essential reading.\nExpect more statements of humble compliance. And look out for further signs that increasingly differing regulatory approaches might accelerate the already expected delisting of China’s media-tech and entertainment firms from U.S. stock markets.\n\n\nMore from Variety\n\n\nBeijing's City Government Preps Bill to Regulate Celebrity Drug Use\n'Lord of the Rings' Films Finalize China Re-Release Dates\nChina Launches Hotline to Report Online Comments That 'Distort' History or 'Deny' Its Cultural Excellence\n\n\n\n\nBest of Variety\n\n\n10 Monsters Godzilla Should Fight Next\nWhat's Coming to Disney Plus in April 2021\nEverything Coming to Netflix in April 2021","news_type":1},"isVote":1,"tweetType":1,"viewCount":255,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":102481712,"gmtCreate":1620230764336,"gmtModify":1704340574382,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Buy or sell?&nbsp;","listText":"Buy or sell?&nbsp;","text":"Buy or sell?","images":[{"img":"https://static.tigerbbs.com/cf04b39d92ebda7f52b1ff43d439358d","width":"1080","height":"3021"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/102481712","isVote":1,"tweetType":1,"viewCount":347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":103893579,"gmtCreate":1619763199291,"gmtModify":1704272029231,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/103893579","repostId":"1188621142","repostType":2,"repost":{"id":"1188621142","pubTimestamp":1619755327,"share":"https://ttm.financial/m/news/1188621142?lang=&edition=fundamental","pubTime":"2021-04-30 12:02","market":"sg","language":"en","title":"Singapore Passes Libor Exit Milestone With $128 Billion at Stake","url":"https://stock-news.laohu8.com/highlight/detail?id=1188621142","media":"Bloomberg","summary":"New cash products to cease being tied to SOR at end-AprilLimited historical use of interbank funding","content":"<ul><li>New cash products to cease being tied to SOR at end-April</li><li>Limited historical use of interbank funding a challenge: BI</li></ul><p>Singapore banks are pressing on in their transition away from the discredited London interbank offered rate as financial centers around the world are facing deadlines to move off Libor-priced loans and securities.</p><p>After Friday, lenders and borrowers must&nbsp;stop using&nbsp;the Singapore dollar swapoffer rate(SOR), computed using Libor, for new loans and other so-called cash products and use a new benchmark. That’s the guidance that’s been in placesince last yearfrom a steering committee formed by the city-state’s central bank.</p><p>The amount of such financial instruments -- including business and syndicated loans as well as retail mortgages -- stood at about&nbsp;S$170 billion&nbsp;($128 billion), according to a survey conducted by the Monetary Authority of Singapore in the first half of last year. While banks don’t yet need to migrate any of those outstanding contracts to a new pricing benchmark they will ultimately need to do so, unless the contracts expire before SOR is axed for good. There were also some S$2.1 trillion in derivatives tied to SOR, and the committee proposed last year that banks substantially reduce exposure to them by the&nbsp;end of September 2021.</p><p>Policy makers around the world are developing new gauges to replace Libor after European and U.S. banks were found to have manipulated it for their own gain. Libor is deeply embedded in markets. Some $200 trillion of derivatives are tied to the U.S. dollar benchmark alone and major global banks will spend more than $100 million this year preparing for the switch.</p><p>Different countries have different key deadlines. The global Libor administrator late last year said it was consulting to extend the retirement date for some U.S. dollar rates until late June 2023, after the pandemic stoked fear markets weren’t ready for the&nbsp;seismic shift.</p><p>Singapore, which is moving to replace SOR with the Singapore overnight rate average (SORA), has been one of the faster adapters. It was among the first nations to&nbsp;auction debt&nbsp;linked to an alternative benchmark when it sold notes linked to SORA in August.</p><p>The Southeast Asian financial center still faces challenges in the transition to a Libor alternative, given the limited historical use of the domestic interbank funding market, said Philip McNicholas, Asean FX and rates strategist at Bloomberg Intelligence.</p><p>However, as SORA is based on an average of past overnight lending rates, it may bolster the interbank lending market depth and liquidity, producing better and more efficient price discovery.</p><p>A spokesperson for the Association of Banks in Singapore said that the banks represented in the steering committee subgroups on business/syndicated loans and consumer products are on track to meet the timelines.</p><p>Here’s what some of the big banks in the country are saying:</p><p><b>Oversea-Chinese Banking Corp.</b></p><p>OCBC was the&nbsp;first to extend&nbsp;a loan tied to SORA, a S$150 million deal signed last June for Singapore’s top developer CapitaLand Ltd.</p><p>Since the end of February, OCBC has been offering a full range of SORA-based products, said Koh Ching Ching, head of brand and communications.</p><p>DBS Group Holdings Ltd.</p><p>DBS, along with Industrial &amp; Commercial Bank of China Ltd., last year signed a club loan of S$200 million with agricultural commodity trader Olam International Ltd. that was the&nbsp;first such facility&nbsp;pegged to SORA.</p><p>By the of last year, DBS had closed more than S$1 billion in loans referencing the alternative risk-free benchmark rates, said Philip Fernandez, group corporate treasurer.</p><p><b>United Overseas Bank Ltd.</b></p><p>UOB and CapitaLand in&nbsp;in September&nbsp;entered into a pact for a two-year S$200 million term loan. The dual-tranche loan referenced both SORA and the secured financing rate, the first of its kind in Singapore.</p><p>More than 60% of property loan customers say they are drawn to the stability of SORA-based interest rates, UOB said in a&nbsp;press release&nbsp;earlier this month.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Passes Libor Exit Milestone With $128 Billion at Stake</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Passes Libor Exit Milestone With $128 Billion at Stake\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-30 12:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-30/singapore-passes-libor-exit-milestone-with-128-billion-at-stake?srnd=premium-asia><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>New cash products to cease being tied to SOR at end-AprilLimited historical use of interbank funding a challenge: BISingapore banks are pressing on in their transition away from the discredited London...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-30/singapore-passes-libor-exit-milestone-with-128-billion-at-stake?srnd=premium-asia\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","O39.SI":"华侨银行","D05.SI":"星展集团控股","STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-30/singapore-passes-libor-exit-milestone-with-128-billion-at-stake?srnd=premium-asia","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1188621142","content_text":"New cash products to cease being tied to SOR at end-AprilLimited historical use of interbank funding a challenge: BISingapore banks are pressing on in their transition away from the discredited London interbank offered rate as financial centers around the world are facing deadlines to move off Libor-priced loans and securities.After Friday, lenders and borrowers must stop using the Singapore dollar swapoffer rate(SOR), computed using Libor, for new loans and other so-called cash products and use a new benchmark. That’s the guidance that’s been in placesince last yearfrom a steering committee formed by the city-state’s central bank.The amount of such financial instruments -- including business and syndicated loans as well as retail mortgages -- stood at about S$170 billion ($128 billion), according to a survey conducted by the Monetary Authority of Singapore in the first half of last year. While banks don’t yet need to migrate any of those outstanding contracts to a new pricing benchmark they will ultimately need to do so, unless the contracts expire before SOR is axed for good. There were also some S$2.1 trillion in derivatives tied to SOR, and the committee proposed last year that banks substantially reduce exposure to them by the end of September 2021.Policy makers around the world are developing new gauges to replace Libor after European and U.S. banks were found to have manipulated it for their own gain. Libor is deeply embedded in markets. Some $200 trillion of derivatives are tied to the U.S. dollar benchmark alone and major global banks will spend more than $100 million this year preparing for the switch.Different countries have different key deadlines. The global Libor administrator late last year said it was consulting to extend the retirement date for some U.S. dollar rates until late June 2023, after the pandemic stoked fear markets weren’t ready for the seismic shift.Singapore, which is moving to replace SOR with the Singapore overnight rate average (SORA), has been one of the faster adapters. It was among the first nations to auction debt linked to an alternative benchmark when it sold notes linked to SORA in August.The Southeast Asian financial center still faces challenges in the transition to a Libor alternative, given the limited historical use of the domestic interbank funding market, said Philip McNicholas, Asean FX and rates strategist at Bloomberg Intelligence.However, as SORA is based on an average of past overnight lending rates, it may bolster the interbank lending market depth and liquidity, producing better and more efficient price discovery.A spokesperson for the Association of Banks in Singapore said that the banks represented in the steering committee subgroups on business/syndicated loans and consumer products are on track to meet the timelines.Here’s what some of the big banks in the country are saying:Oversea-Chinese Banking Corp.OCBC was the first to extend a loan tied to SORA, a S$150 million deal signed last June for Singapore’s top developer CapitaLand Ltd.Since the end of February, OCBC has been offering a full range of SORA-based products, said Koh Ching Ching, head of brand and communications.DBS Group Holdings Ltd.DBS, along with Industrial & Commercial Bank of China Ltd., last year signed a club loan of S$200 million with agricultural commodity trader Olam International Ltd. that was the first such facility pegged to SORA.By the of last year, DBS had closed more than S$1 billion in loans referencing the alternative risk-free benchmark rates, said Philip Fernandez, group corporate treasurer.United Overseas Bank Ltd.UOB and CapitaLand in in September entered into a pact for a two-year S$200 million term loan. The dual-tranche loan referenced both SORA and the secured financing rate, the first of its kind in Singapore.More than 60% of property loan customers say they are drawn to the stability of SORA-based interest rates, UOB said in a press release earlier this month.","news_type":1},"isVote":1,"tweetType":1,"viewCount":349,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377311077,"gmtCreate":1619496135399,"gmtModify":1704724915528,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Good company, nothing to fear","listText":"Good company, nothing to fear","text":"Good company, nothing to fear","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/377311077","repostId":"1174102331","repostType":2,"repost":{"id":"1174102331","pubTimestamp":1619489615,"share":"https://ttm.financial/m/news/1174102331?lang=&edition=fundamental","pubTime":"2021-04-27 10:13","market":"hk","language":"en","title":"Ant Valuation Seen Falling to $29 Billion in Worst-Case Scenario","url":"https://stock-news.laohu8.com/highlight/detail?id=1174102331","media":"Bloomberg","summary":"Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding ","content":"<p>Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding company that’s regulated more like a bank, according to Bloomberg Intelligence.</p>\n<p>The regulatory clampdown could push Ant’s revenue growth to the low teens compared with 30% in November, dragging down profit prospects, analyst Francis Chan wrote in a&nbsp;report&nbsp;on Tuesday. Ant’s valuation could drop to a range of $29 billion to $115 billion, from $320 billion previously, he forecasts.</p>\n<p>Ant’s valuation could come to resemble those of banks and other mainstay financial institutions, Chan said. The fintech company is facing curbs on all fronts, from online lending to payments, wealth management and insurance.</p>\n<p>The company’s consumer lending units Huabei and Jiebei could suffer with their links being removed from Alipay, which has a billion users, Chan said. Ant will face more restrictions accessing and using personal information via credit investigations, he added. The company also needs to lower the balance of its Yu’ebao wealth management service, which plunged 18% in the first quarter.</p>\n<p>“Ant Group’s future as China’s fintech giant could be characterized by diminished greatness, with or without Jack Ma,” said Chan. Ma currently holds a controlling stake in the company.</p>\n<p>If Ant is seen like a traditional lender, even a fast-growing one such as&nbsp;China Merchants Bank Co., its valuation might not stretch beyond 487 billion yuan ($75 billion) to 492 billion yuan, Chan said. In the downside scenario, the market may assess Ant similar to the MSCI China Financials index, which implies a value of 186 billion yuan to 245 billion yuan.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ant Valuation Seen Falling to $29 Billion in Worst-Case Scenario</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\">\nAnt Valuation Seen Falling to $29 Billion in Worst-Case Scenario\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-27 10:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-04-27/ant-valuation-seen-falling-to-29-billion-in-worst-case-scenario?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding company that’s regulated more like a bank, according to Bloomberg Intelligence.\nThe regulatory ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-04-27/ant-valuation-seen-falling-to-29-billion-in-worst-case-scenario?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"06688":"蚂蚁集团","09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://www.bloomberg.com/news/articles/2021-04-27/ant-valuation-seen-falling-to-29-billion-in-worst-case-scenario?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1174102331","content_text":"Ant Group Co.’s valuation could plummet to as low as $29 billion after becoming a financial holding company that’s regulated more like a bank, according to Bloomberg Intelligence.\nThe regulatory clampdown could push Ant’s revenue growth to the low teens compared with 30% in November, dragging down profit prospects, analyst Francis Chan wrote in a report on Tuesday. Ant’s valuation could drop to a range of $29 billion to $115 billion, from $320 billion previously, he forecasts.\nAnt’s valuation could come to resemble those of banks and other mainstay financial institutions, Chan said. The fintech company is facing curbs on all fronts, from online lending to payments, wealth management and insurance.\nThe company’s consumer lending units Huabei and Jiebei could suffer with their links being removed from Alipay, which has a billion users, Chan said. Ant will face more restrictions accessing and using personal information via credit investigations, he added. The company also needs to lower the balance of its Yu’ebao wealth management service, which plunged 18% in the first quarter.\n“Ant Group’s future as China’s fintech giant could be characterized by diminished greatness, with or without Jack Ma,” said Chan. Ma currently holds a controlling stake in the company.\nIf Ant is seen like a traditional lender, even a fast-growing one such as China Merchants Bank Co., its valuation might not stretch beyond 487 billion yuan ($75 billion) to 492 billion yuan, Chan said. In the downside scenario, the market may assess Ant similar to the MSCI China Financials index, which implies a value of 186 billion yuan to 245 billion yuan.","news_type":1},"isVote":1,"tweetType":1,"viewCount":541,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372497843,"gmtCreate":1619231898282,"gmtModify":1704721608531,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Isit gona sky Rocket after this read?&nbsp;","listText":"Isit gona sky Rocket after this read?&nbsp;","text":"Isit gona sky Rocket after this read?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372497843","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":774,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":372491747,"gmtCreate":1619231544189,"gmtModify":1704721600428,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Sounds real","listText":"Sounds real","text":"Sounds real","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372491747","repostId":"1172227414","repostType":2,"repost":{"id":"1172227414","pubTimestamp":1619185525,"share":"https://ttm.financial/m/news/1172227414?lang=&edition=fundamental","pubTime":"2021-04-23 21:45","market":"us","language":"en","title":"Alibaba Stock Could Rise 50% After the Regulatory Fine","url":"https://stock-news.laohu8.com/highlight/detail?id=1172227414","media":"InvestorPlace","summary":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdo","content":"<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdown</p><p><b>Alibaba</b>&nbsp;(NYSE:<b><u>BABA</u></b>) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.</p><p>This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to&nbsp;<b>Amazon</b>&nbsp;(NASDAQ:<b><u>AMZN)</u></b>, has weathered a lengthy review from Chinese regulators. On April 10, they accepted&nbsp;a $2.8 billion antitrust fine&nbsp;from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.</p><p>Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would&nbsp;not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.</p><p><b>Comparing Alibaba’s Valuation</b></p><p>In my previous&nbsp;article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.</p><p>Well, the same is true today. For example, BABA stock has a&nbsp;forward P/E ratio (for 2021) of 22 times earnings&nbsp;(year ending March) and just 21 times for 2022, according to<i>Seeking Alpha</i>. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.</p><p>Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according to<i>Seeking Alpha</i>, during the last 12 months (LTM) ending in December 2020, Alibaba&nbsp;generated $27.148.02 billion&nbsp;on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.</p><p><b>What Alibaba Is Worth</b></p><p>So the Alibaba valuation is out of whack.</p><p>But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).</p><p>As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).</p><p>So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.</p><p><b>What to Do With BABA Stock</b></p><p>Many analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.</p><p>No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.</p><p>This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.&nbsp; Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.</p>","source":"lsy1606302653667","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>Alibaba Stock Could Rise 50% After the Regulatory Fine</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\">\nAlibaba Stock Could Rise 50% After the Regulatory Fine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-23 21:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April ...</p>\n\n<a href=\"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BABA":"阿里巴巴","09988":"阿里巴巴-W"},"source_url":"https://investorplace.com/2021/04/baba-stock-is-worth-50-percent-more-at-345-88-despite-a-50-percent-prc-discount/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1172227414","content_text":"BABA stock is worth $345.88, 50% higher, even after a 50% discount due to China’s regulatory crackdownAlibaba (NYSE:BABA) stock has had a rough year, and had actually fallen 1.7% to $228.64 on April 20 from its 2020 year-end close of $232.75. In fact, over the last year, BABA stock is up just a bit over 10%. That is nothing to write home about. But the truth is the stock is now very cheap, and likely to do much better over the next year.This is especially true now that the Chinese e-commerce conglomerate, with a similar business model to Amazon (NASDAQ:AMZN), has weathered a lengthy review from Chinese regulators. On April 10, they accepted a $2.8 billion antitrust fine from the State Administration for Market Regulation (SAMR) in the PRC. This is effectively a slap on the wrist, as the fine represents just 4% of its 2019 revenue.Analysts were uniform in arguing that this is a relief for BABA stock. One analyst from HSBC pointed out that this would not affect its gross merchandise value(GMV). Apparently what riled regulators were actions from one of Alibaba’s “Tmall flagship stores that are directly operated by brands.” The point is its fundamental business model won’t be changed or affected.Comparing Alibaba’s ValuationIn my previous article at the end of last year,I compared the valuation of Alibaba stock to Amazon. I found that Alibaba was very cheap, as its price-to-earnings (P/E) ratio was one-third that of Amazon. This was the case even though both had similar price-to-sales ratios.Well, the same is true today. For example, BABA stock has a forward P/E ratio (for 2021) of 22 times earnings (year ending March) and just 21 times for 2022, according toSeeking Alpha. Compare this to AMZN stock. Its 2021 forward 2021 P/E multiple (year ending December) is 70 times, and for 2022 is 50 times earnings. This means that Alibaba trades for under a third of the 2021 AMZN stock ratio and 42% of the 2022 ratio.Moreover, Alibaba has similar, if not better, free cash flow (FCF) margins as compared to Amazon. For example, according toSeeking Alpha, during the last 12 months (LTM) ending in December 2020, Alibaba generated $27.148.02 billion on $98.686 billion, or a 27.5% FCF margin. But Amazon had $31.02 billion in FCF on $386.06 billion in revenue, or an 8% FCF margin. In other words, Alibaba has 3.4 times the FCF margins of Amazon.What Alibaba Is WorthSo the Alibaba valuation is out of whack.But maybe a 66% discount to the valuation is too much (i.e., the 2021 P/E valuation discount). For example, let’s assume there is just a 50% discount to the comparable 2021 P/E value (to account for the PRC discount) and a 40% discount to the 2022 valuation. That would give BABA stock a P/E ratio of 35 times for 2021 (i.e., 50% x 70 multiple) and a 30 times ratio for 2022 (i.e., 60% x 50 times).As a result, the implied discounted 2021 valuation is$356.65 (i.e., $10.19 EPS for 2021 times 35 P/E) and $335.70 for 2022 (i.e., $11.19 2022 EPS x 30 P/E ratio). The average of these two target prices is $345.88 is still 50% above today’s price (April 20).So, even after discounting Alibaba’s prospects by 50% for 2021 and 40% for 2022 (assuming the regulatory crackdown abates by then), the stock is still very cheap.What to Do With BABA StockMany analysts fail to properly discount Alibaba’s valuation. They see the discrepancy with Amazon and other Western tech stocks and say this stock is worth three times more.No one really knows where any of this regulatory scrutiny could end. It is a massive, volatile, uncertain, and potentially totally destructive risk for owners of BABA stock. The market is not blind to this risk, which is why the stock is so cheap. However, I do believe that the market has overdone the risk discounting. It seems likely now that the stock will rise assuming that the government scrutiny is over.This could be a wild ride. Keep in mind that BABA stock carries huge risks, despite its massive profitability.  Nevertheless, right now it looks like the stock is worth about 50% more, or $345.88 per share.","news_type":1},"isVote":1,"tweetType":1,"viewCount":593,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":378912709,"gmtCreate":1618990251701,"gmtModify":1704717952710,"author":{"id":"3577490358002933","authorId":"3577490358002933","name":"khorgc","avatar":"https://static.tigerbbs.com/65a0addb29d13bd2bfdcfb44b21f26dd","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577490358002933","authorIdStr":"3577490358002933"},"themes":[],"htmlText":"Seems like gd news","listText":"Seems like gd news","text":"Seems like gd news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/378912709","repostId":"2129827063","repostType":2,"repost":{"id":"2129827063","pubTimestamp":1618989180,"share":"https://ttm.financial/m/news/2129827063?lang=&edition=fundamental","pubTime":"2021-04-21 15:13","market":"us","language":"en","title":"Chinafy Joins Alibaba Cloud Partner Network","url":"https://stock-news.laohu8.com/highlight/detail?id=2129827063","media":"StreetInsider","summary":"HONG KONG, April 21, 2021 /PRNewswire/ -- Chinafy announces today that it has joined the Alibaba Clo","content":"<html><body><div>\n<div>\n<p>HONG KONG, April 21, 2021 /PRNewswire/ --<b> Chinafy announces today that it has joined the Alibaba Cloud Technology Partner Network. </b></p>\n<p>This partnership enables global multinationals, e-commerce, travel, and technology companies <b>improved</b> access to website acceleration and SEO performance in China, a faster go-to-market strategy, and content delivery via a more extensive near-China CDN network. </p>\n<p>For Alibaba Cloud customers with websites, they now have a streamlined option to leverage Chinafy's intelligent resource optimization platform and accelerate both onshore, and offshore web performance in China.</p>\n<p>For Chinafy customers, they now have the option to elect Alibaba Cloud's extensive content delivery network and Alibaba's China Gateway Consulting services as part of their web optimization process with Chinafy. </p>\n<p>\"With the depth of Alibaba Cloud's local expertise, vast infrastructure and multiple points-of-presence, Chinafy is able to offer improved performance, and reliability for businesses looking to grow in China\" - Kevin Lepsoe, CEO of Chinafy.</p>\n<p>For more information about Alibaba Cloud Partner Network, please visit https://www.alibabacloud.com/partner</p>\n<p>For more information about Chinafy Partners and how to become a partner, please visit https://www.chinafy.com/partners</p>\n<p><b>About Alibaba Cloud</b></p>\n<p>Alibaba Cloud, founded in 2009, is a global leader in cloud computing and artificial intelligence, providing services to thousands of enterprises, developers, and government organizations in more than 200 countries and regions. Committed to the success of its customers, Alibaba Cloud provides reliable and secure cloud computing and data processing capabilities as a part of its online solutions. Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group.</p>\n<p><b>About Chinafy</b></p>\n<p>Headquartered in Hong Kong, Chinafy (<span>www.chinafy.com</span>) is on a mission to put the world's second-largest economy within reach for global companies everywhere with their Web Performance Solutions for China. Chinafy's platform accelerates, optimizes, and protects any internet property for delivery in China without adding hardware or manually modifying a line of code. By combining intelligent China-specific resource optimizations, with a multi-layered infrastructure, internet properties are able to achieve significant improvements in performance, a decrease in bounce rates, and an increase in conversions in China in a more cost-effective, results-driven way.</p>\n<p><img height=\"12\" src=\"https://c212.net/c/img/favicon.png?sn=HK50283&amp;sd=2021-04-21\" title=\"Cision\" width=\"12\"/> View original content:http://www.prnewswire.com/news-releases/chinafy-joins-alibaba-cloud-partner-network-301273494.html</p>\n<p>SOURCE  Chinafy</p>\n</div> </div></body></html>","source":"highlight_streetinsider","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Chinafy Joins Alibaba Cloud Partner Network</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\">\nChinafy Joins Alibaba Cloud Partner Network\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-21 15:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.streetinsider.com/dr/news.php?id=18286787><strong>StreetInsider</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>HONG KONG, April 21, 2021 /PRNewswire/ -- Chinafy announces today that it has joined the Alibaba Cloud Technology Partner Network. \nThis partnership enables global multinationals, e-commerce, travel, ...</p>\n\n<a href=\"https://www.streetinsider.com/dr/news.php?id=18286787\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","09988":"阿里巴巴-W","BABA":"阿里巴巴"},"source_url":"https://www.streetinsider.com/dr/news.php?id=18286787","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129827063","content_text":"HONG KONG, April 21, 2021 /PRNewswire/ -- Chinafy announces today that it has joined the Alibaba Cloud Technology Partner Network. \nThis partnership enables global multinationals, e-commerce, travel, and technology companies improved access to website acceleration and SEO performance in China, a faster go-to-market strategy, and content delivery via a more extensive near-China CDN network. \nFor Alibaba Cloud customers with websites, they now have a streamlined option to leverage Chinafy's intelligent resource optimization platform and accelerate both onshore, and offshore web performance in China.\nFor Chinafy customers, they now have the option to elect Alibaba Cloud's extensive content delivery network and Alibaba's China Gateway Consulting services as part of their web optimization process with Chinafy. \n\"With the depth of Alibaba Cloud's local expertise, vast infrastructure and multiple points-of-presence, Chinafy is able to offer improved performance, and reliability for businesses looking to grow in China\" - Kevin Lepsoe, CEO of Chinafy.\nFor more information about Alibaba Cloud Partner Network, please visit https://www.alibabacloud.com/partner\nFor more information about Chinafy Partners and how to become a partner, please visit https://www.chinafy.com/partners\nAbout Alibaba Cloud\nAlibaba Cloud, founded in 2009, is a global leader in cloud computing and artificial intelligence, providing services to thousands of enterprises, developers, and government organizations in more than 200 countries and regions. Committed to the success of its customers, Alibaba Cloud provides reliable and secure cloud computing and data processing capabilities as a part of its online solutions. Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group.\nAbout Chinafy\nHeadquartered in Hong Kong, Chinafy (www.chinafy.com) is on a mission to put the world's second-largest economy within reach for global companies everywhere with their Web Performance Solutions for China. Chinafy's platform accelerates, optimizes, and protects any internet property for delivery in China without adding hardware or manually modifying a line of code. By combining intelligent China-specific resource optimizations, with a multi-layered infrastructure, internet properties are able to achieve significant improvements in performance, a decrease in bounce rates, and an increase in conversions in China in a more cost-effective, results-driven way.\n View original content:http://www.prnewswire.com/news-releases/chinafy-joins-alibaba-cloud-partner-network-301273494.html\nSOURCE  Chinafy","news_type":1},"isVote":1,"tweetType":1,"viewCount":303,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}