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TerenceWon

TerenceWon

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05-07

$(C6L.SI)$ Best Airline in the world, up to the moon

05-03

Guess the winner，Earn Tiger Coins

Find out more here: Guess the winner，Earn Tiger Coins Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.

Guess the winner，Earn Tiger Coins

04-24

$Apple(AAPL)$ 175 when close ok😁

04-23

$Apple(AAPL)$ 170 when open, close at 175

04-23

$Apple(AAPL)$ 175 maybe. Dont have to wait the launching of AI.

04-18

$Apple(AAPL)$ hold it until Q3

04-18

Guess the winner，Earn Tiger Coins

Find out more here: Guess the winner，Earn Tiger Coins Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.

Guess the winner，Earn Tiger Coins

04-16

Guess the winner，Earn Tiger Coins

Find out more here: Guess the winner，Earn Tiger Coins Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.

Guess the winner，Earn Tiger Coins

04-15

Great article, would you like to share it?

SG Morning Call｜Singapore Stocks Opened Lower on Monday after Middle East Tension with Nio Falling 5.6%

04-11

Guess the winner，Earn Tiger Coins

Find out more here: Guess the winner，Earn Tiger Coins Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.

Guess the winner，Earn Tiger Coins

03-21

$DBS GROUP HOLDINGS LTD(D05.SI)$

03-20

$Apple(AAPL)$ fly me to the moon

03-20

$Advanced Micro Devices(AMD)$

03-20

Great ariticle, would you like to share it?

Grab: A Sleeping Giant

03-20

Great ariticle, would you like to share it?

@pixelo:$ARM Holdings Ltd(ARM)$ This is a great opportunistic ARM accumulation buy on the heels of a Market generated and volatility weakness!!!*** Use this “fog of confusion moment” to back up your boats for Huge gains on the rebound to higher grounds!!!

03-14

$Singtel(Z74.SI)$ Up up you go

03-14

$Keppel(BN4.SI)$ non stop soaring

03-14

$Keppel(BN4.SI)$ Keppel good new coming up. More project with CAG.

03-14

Great ariticle, would you like to share it?

@TigerEvents:[Events] Share Your Most Profitable Holdings & Win Tiger Coins

03-14

$ocbc bank(O39.SI)$ Moomoo

Go to Tiger App to see more news

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href=\"https://ttm.financial/S/C6L.SI\">$(C6L.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Best Airline in the world, up to the moon","listText":"<a href=\"https://ttm.financial/S/C6L.SI\">$(C6L.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Best Airline in the world, up to the moon","text":"$(C6L.SI)$ Best Airline in the world, up to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/303205387132968","isVote":1,"tweetType":1,"viewCount":305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":301772841164928,"gmtCreate":1714694432138,"gmtModify":1714697668222,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"title":"Guess the winner，Earn Tiger Coins","htmlText":"Find out more here: <a href=\"https://www.atigrzen.com/activity/market/2024/trading-guess?inviteId=XGTFPBEZ&amp;feature=Message&amp;utm_medium=tiger_community&amp;platform=iOS&amp;shareID=ce9cb2deb4aa0967d9a31682fbc09f19&amp;invite=3GF6BV&amp;lang=en_US\">Guess the winner，Earn Tiger Coins</a> Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","listText":"Find out more here: <a href=\"https://www.atigrzen.com/activity/market/2024/trading-guess?inviteId=XGTFPBEZ&amp;feature=Message&amp;utm_medium=tiger_community&amp;platform=iOS&amp;shareID=ce9cb2deb4aa0967d9a31682fbc09f19&amp;invite=3GF6BV&amp;lang=en_US\">Guess the winner，Earn Tiger Coins</a> Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","text":"Find out more here: Guess the winner，Earn Tiger Coins Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","images":[{"img":"https://static.tigerbbs.com/f5b7f90833b0728cadecb5cb81220f1d"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/301772841164928","isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":298766798848240,"gmtCreate":1713972929055,"gmtModify":1713972931972,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> 175 when close ok😁","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> 175 when close ok😁","text":"$Apple(AAPL)$ 175 when close ok😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/298766798848240","isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":298379648966800,"gmtCreate":1713864678579,"gmtModify":1713864682228,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> 170 when open, close at 175","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> 170 when open, close at 175","text":"$Apple(AAPL)$ 170 when open, close at 175","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/298379648966800","isVote":1,"tweetType":1,"viewCount":250,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":298379585011960,"gmtCreate":1713864644022,"gmtModify":1713864648168,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a> 175 maybe. Dont have to wait&nbsp;the launching of AI.","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a> 175 maybe. Dont have to wait&nbsp;the launching of AI.","text":"$Apple(AAPL)$ 175 maybe. Dont have to wait the launching of AI.","images":[{"img":"https://community-static.tradeup.com/news/9a8cbb639de87a5f592cf7d766d0cf3f","width":"1170","height":"2908"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/298379585011960","isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":296623300194616,"gmtCreate":1713455405703,"gmtModify":1713455410620,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> hold it until Q3","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> hold it until Q3","text":"$Apple(AAPL)$ hold it until Q3","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/296623300194616","isVote":1,"tweetType":1,"viewCount":312,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":296593497415688,"gmtCreate":1713448038127,"gmtModify":1713448973719,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"title":"Guess the winner，Earn Tiger Coins","htmlText":"Find out more here: <a href=\"https://www.atigrzen.com/activity/market/2024/trading-guess?inviteId=XGTFPBEZ&amp;feature=Message&amp;utm_medium=tiger_community&amp;platform=iOS&amp;shareID=e9e6a0439b8e8d4858f1782691fda865&amp;invite=3GF6BV&amp;lang=en_US\">Guess the winner，Earn Tiger Coins</a> Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","listText":"Find out more here: <a href=\"https://www.atigrzen.com/activity/market/2024/trading-guess?inviteId=XGTFPBEZ&amp;feature=Message&amp;utm_medium=tiger_community&amp;platform=iOS&amp;shareID=e9e6a0439b8e8d4858f1782691fda865&amp;invite=3GF6BV&amp;lang=en_US\">Guess the winner，Earn Tiger Coins</a> Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","text":"Find out more here: Guess the winner，Earn Tiger Coins Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","images":[{"img":"https://static.tigerbbs.com/f5b7f90833b0728cadecb5cb81220f1d"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/296593497415688","isVote":1,"tweetType":1,"viewCount":152,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":295811344318648,"gmtCreate":1713229491006,"gmtModify":1714291395773,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"title":"Guess the winner，Earn Tiger Coins","htmlText":"Find out more here: <a href=\"https://www.atigrzen.com/activity/market/2024/trading-guess?inviteId=XGTFPBEZ&amp;feature=Message&amp;utm_medium=tiger_community&amp;platform=iOS&amp;shareID=bd41674f5d5c60e4f4ecf5104bf5c226&amp;invite=3GF6BV&amp;lang=en_US\">Guess the winner，Earn Tiger Coins</a> Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","listText":"Find out more here: <a href=\"https://www.atigrzen.com/activity/market/2024/trading-guess?inviteId=XGTFPBEZ&amp;feature=Message&amp;utm_medium=tiger_community&amp;platform=iOS&amp;shareID=bd41674f5d5c60e4f4ecf5104bf5c226&amp;invite=3GF6BV&amp;lang=en_US\">Guess the winner，Earn Tiger Coins</a> Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","text":"Find out more here: Guess the winner，Earn Tiger Coins Come and participate in the“ Guess the winner，Earn Tiger Coins” event, find the trade master and invite friends to get up to 250 tiger coins.","images":[{"img":"https://static.tigerbbs.com/f5b7f90833b0728cadecb5cb81220f1d"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/295811344318648","isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":295422198800456,"gmtCreate":1713142898228,"gmtModify":1713142900128,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"Great article, would you like to share it?","listText":"Great article, would you like to share it?","text":"Great article, 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/295422198800456","repostId":"1108949870","repostType":4,"repost":{"id":"1108949870","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings","home_visible":1,"media_name":"TigerNews SG","id":"1050470178","head_image":"https://community-static.tradeup.com/news/f17a9a7b68c877792d5e556261e9e709"},"pubTimestamp":1713143270,"share":"https://ttm.financial/m/news/1108949870?lang=&edition=fundamental","pubTime":"2024-04-15 09:07","market":"sg","language":"en","title":"SG Morning Call｜Singapore Stocks Opened Lower on Monday after Middle East Tension with Nio Falling 5.6%","url":"https://stock-news.laohu8.com/highlight/detail?id=1108949870","media":"TigerNews SG","summary":"Stocks to WatchElite Commercial Reit :  The real estate investment trust (Reit) will expand its investment strategy to include other asset sectors in the UK in addition to its current focus on social ","content":"<html><head></head><body><h2 id=\"id_2780928662\">Market Snapshot</h2><p>Singapore stocks opened lower on Monday after Middle East tension. SIA fell 1%, DBS fell 1%, UOB fell 0.6%, Seatrium fell 1%, NIO fell 5.6%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2eb4afd6144349c9b1e8ca5da2c87fe9\" title=\"\" tg-width=\"270\" tg-height=\"874\"/></p><h2 id=\"id_2439355089\">Stocks to Watch</h2><p><strong>Elite Commercial Reit :</strong> The real estate investment trust (Reit) will expand its investment strategy to include other asset sectors in the UK in addition to its current focus on social infrastructure assets, the manager said on Monday. It has highlighted the living sector, which includes purpose-built student accommodation and build-to-rent residential assets, as one such area of potential investment. Its counter closed flat at S$0.245 on Friday.</p><p><strong>Seatrium :</strong> The offshore and marine group will collaborate further with Shell on floating production systems (FPS), it said on Monday. Both parties have inked a memorandum of understanding that will promote best practices in FPS design and constriction by driving product standardisation and replication. Shares of Seatrium closed down S$0.003 or 3.6 per cent at S$0.081 on Friday.</p><p><strong>Sabana Industrial Real Estate Investment Trust:</strong> The manager said on Monday that it intends to convene the requisitioned extraordinary general meeting (EGM) on or before May 25. It added that due to the closeness in time between the EGM and the Apr 23 annual general meeting, the manager is unable to accede to the requisitionsts’ request, as it needs time to prepare for the convening of the requisitioned EGM according to the relevant regulatory and legal requirements. Units of Sabana Reit closed Friday down 1.4 per cent or S$0.005 to S$0.365.</p><h2 id=\"id_1127675388\">SG Local News</h2><p><strong>Services sector key to Singapore&#39;s 2024 growth</strong></p><p>Experts believe Singapore has arrived at “safe harbours” and will see further acceleration to its gross domestic product (GDP) in 1H24.</p><p>In a report, RHB Acting Group Chief Economist Barnas Gan said the services sector will underpin growth in 2024.</p><p><strong>Singapore Car Startup Seeks Value Over $1.5 Billion Ahead of IPO</strong></p><p>Southeast Asia’s used-car marketplace Carro is raising about $100 million as it gears up for a stock-market debut, betting that new funds will cement it as the region’s top player.</p><p>The company is speaking with investors for a pre-initial public offering funding round which could raise its valuation to more than $1.5 billion, Chief Executive Officer Aaron Tan said in an interview. The firm, which has about 4,500 staff and counts SoftBank Group Corp. as well as Singapore’s GIC Pte and Temasek Holdings Pte among its investors, just posted its first annual operating profit.</p></body></html>","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>SG Morning Call｜Singapore Stocks Opened Lower on Monday after Middle East Tension with Nio Falling 5.6%</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\">\nSG Morning Call｜Singapore Stocks Opened Lower on Monday after Middle East Tension with Nio Falling 5.6%\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1050470178\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/f17a9a7b68c877792d5e556261e9e709);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">TigerNews SG </p>\n<p class=\"h-time\">2024-04-15 09:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><h2 id=\"id_2780928662\">Market Snapshot</h2><p>Singapore stocks opened lower on Monday after Middle East tension. SIA fell 1%, DBS fell 1%, UOB fell 0.6%, Seatrium fell 1%, NIO fell 5.6%.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2eb4afd6144349c9b1e8ca5da2c87fe9\" title=\"\" tg-width=\"270\" tg-height=\"874\"/></p><h2 id=\"id_2439355089\">Stocks to Watch</h2><p><strong>Elite Commercial Reit :</strong> The real estate investment trust (Reit) will expand its investment strategy to include other asset sectors in the UK in addition to its current focus on social infrastructure assets, the manager said on Monday. It has highlighted the living sector, which includes purpose-built student accommodation and build-to-rent residential assets, as one such area of potential investment. Its counter closed flat at S$0.245 on Friday.</p><p><strong>Seatrium :</strong> The offshore and marine group will collaborate further with Shell on floating production systems (FPS), it said on Monday. Both parties have inked a memorandum of understanding that will promote best practices in FPS design and constriction by driving product standardisation and replication. Shares of Seatrium closed down S$0.003 or 3.6 per cent at S$0.081 on Friday.</p><p><strong>Sabana Industrial Real Estate Investment Trust:</strong> The manager said on Monday that it intends to convene the requisitioned extraordinary general meeting (EGM) on or before May 25. It added that due to the closeness in time between the EGM and the Apr 23 annual general meeting, the manager is unable to accede to the requisitionsts’ request, as it needs time to prepare for the convening of the requisitioned EGM according to the relevant regulatory and legal requirements. Units of Sabana Reit closed Friday down 1.4 per cent or S$0.005 to S$0.365.</p><h2 id=\"id_1127675388\">SG Local News</h2><p><strong>Services sector key to Singapore&#39;s 2024 growth</strong></p><p>Experts believe Singapore has arrived at “safe harbours” and will see further acceleration to its gross domestic product (GDP) in 1H24.</p><p>In a report, RHB Acting Group Chief Economist Barnas Gan said the services sector will underpin growth in 2024.</p><p><strong>Singapore Car Startup Seeks Value Over $1.5 Billion Ahead of IPO</strong></p><p>Southeast Asia’s used-car marketplace Carro is raising about $100 million as it gears up for a stock-market debut, betting that new funds will cement it as the region’s top player.</p><p>The company is speaking with investors for a pre-initial public offering funding round which could raise its valuation to more than $1.5 billion, Chief Executive Officer Aaron Tan said in an interview. The firm, which has about 4,500 staff and counts SoftBank Group Corp. as well as Singapore’s GIC Pte and Temasek Holdings Pte among its investors, just posted its first annual operating profit.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MXNU.SI":"EliteComREIT GBP","M1GU.SI":"胜宝工业信托","STI.SI":"富时新加坡海峡指数"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108949870","content_text":"Market SnapshotSingapore stocks opened lower on Monday after Middle East tension. SIA fell 1%, DBS fell 1%, UOB fell 0.6%, Seatrium fell 1%, NIO fell 5.6%.Stocks to WatchElite Commercial Reit : The real estate investment trust (Reit) will expand its investment strategy to include other asset sectors in the UK in addition to its current focus on social infrastructure assets, the manager said on Monday. It has highlighted the living sector, which includes purpose-built student accommodation and build-to-rent residential assets, as one such area of potential investment. Its counter closed flat at S$0.245 on Friday.Seatrium : The offshore and marine group will collaborate further with Shell on floating production systems (FPS), it said on Monday. Both parties have inked a memorandum of understanding that will promote best practices in FPS design and constriction by driving product standardisation and replication. Shares of Seatrium closed down S$0.003 or 3.6 per cent at S$0.081 on Friday.Sabana Industrial Real Estate Investment Trust: The manager said on Monday that it intends to convene the requisitioned extraordinary general meeting (EGM) on or before May 25. It added that due to the closeness in time between the EGM and the Apr 23 annual general meeting, the manager is unable to accede to the requisitionsts’ request, as it needs time to prepare for the convening of the requisitioned EGM according to the relevant regulatory and legal requirements. Units of Sabana Reit closed Friday down 1.4 per cent or S$0.005 to S$0.365.SG Local NewsServices sector key to Singapore's 2024 growthExperts believe Singapore has arrived at “safe harbours” and will see further acceleration to its gross domestic product (GDP) in 1H24.In a report, RHB Acting Group Chief Economist Barnas Gan said the services sector will underpin growth in 2024.Singapore Car Startup Seeks Value Over $1.5 Billion Ahead of IPOSoutheast Asia’s used-car marketplace Carro is raising about $100 million as it gears up for a stock-market debut, betting that new funds will cement it as the region’s top player.The company is speaking with investors for a pre-initial public offering funding round which could raise its valuation to more than $1.5 billion, Chief Executive Officer Aaron Tan said in an interview. The firm, which has about 4,500 staff and counts SoftBank Group Corp. as well as Singapore’s GIC Pte and Temasek Holdings Pte among its investors, just posted its first annual operating profit.","news_type":1},"isVote":1,"tweetType":1,"viewCount":284,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":293930955456720,"gmtCreate":1712792026892,"gmtModify":1712801245022,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"title":"Guess the winner，Earn Tiger Coins","htmlText":"Find out more here: <a 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the trade master and invite friends to get up to 250 tiger coins.","images":[{"img":"https://static.tigerbbs.com/f5b7f90833b0728cadecb5cb81220f1d"}],"top":1,"highlighted":1,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/293930955456720","isVote":1,"tweetType":1,"viewCount":251,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":286559619137728,"gmtCreate":1710995663198,"gmtModify":1710995666620,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/D05.SI\">$DBS GROUP HOLDINGS LTD(D05.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v>&nbsp;","listText":"<a href=\"https://ttm.financial/S/D05.SI\">$DBS GROUP HOLDINGS 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it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/286297788682424","repostId":"2420298788","repostType":4,"repost":{"id":"2420298788","pubTimestamp":1710913398,"share":"https://ttm.financial/m/news/2420298788?lang=&edition=fundamental","pubTime":"2024-03-20 13:43","market":"nz","language":"en","title":"Grab: A Sleeping Giant","url":"https://stock-news.laohu8.com/highlight/detail?id=2420298788","media":"seekingalpha","summary":"Grab Holdings Limited is the baddest superapp in Southeast Asia, with seemingly impenetrable moats.The growth of the digital economy in Southeast Asia should be a massive tailwind for Grab.Profitabili","content":"<html><head></head><body><ul style=\"\"><li><p><a href=\"https://laohu8.com/S/GRAB\">Grab Holdings</a> Limited is the baddest superapp in Southeast Asia, with seemingly impenetrable moats.</p></li><li><p>The growth of the digital economy in Southeast Asia should be a massive tailwind for Grab.</p></li><li><p>Profitability is improving, with margins expanding across all segments.</p></li><li><p>Yet, the stock is still down 80% from its all-time highs.</p></li><li><p>I believe there&#39;s a huge disconnect between Grab Holdings fundamentals and valuation.</p></li></ul><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/9c03085ae3890e727a5127dee0d34e96\" tg-width=\"750\" tg-height=\"500\"/></p><h2 id=\"id_2773276008\">Introduction</h2><p>Over two years ago, when I heard about <strong>Grab Holdings Limited</strong> (NASDAQ:GRAB) going public at a $40B valuation, my initial reaction was that the company was probably overpriced.</p><p>Looking back, I was right about this.</p><p>Without even doing any research, I also made the uneducated conclusion that the on-demand business model in Southeast Asia might just be unsustainable and would remain unprofitable for all eternity.</p><p>As it turns out, I was dead wrong about this — in Q4, the company turned GAAP profitable for the first time ever.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/63dd0ee9250a70448da1dba9c52c95de\" tg-width=\"640\" tg-height=\"287\"/></p><p>Seeking Alpha</p><p></p><p>So after a flip to GAAP Net Income positivity and after an 80% decline in the stock price, I figured there might be some value in the stock — so I looked into it.</p><p>After doing some research, I realized that Grab is a tech giant in hibernation.</p><p>With that being said, <em>grab (pun intended) </em>a cup of coffee and get cozy, because this is a deep dive into Southeast Asia&#39;s superapp. Enjoy!</p><h2 id=\"id_610959974\">Company</h2><p>A little over a decade ago, two Malaysian-born Harvard Business School students — Anthony Tan and Tan Hooi Ling — teamed up to pitch a business idea for the HBS New Venture Competition in July 2011.</p><p>Anthony Tan, having grown up in a family that owned one of the largest automobile businesses in Malaysia, and Tan Hooi Ling, having experienced Malaysia&#39;s nightmare taxi industry while working at McKinsey, decided to replicate Uber&#39;s (UBER) ride-hailing service in the U.S. and bring it to their home, Malaysia.</p><p>As it turned out, the pair finished second place in the competition, winning $25,000. With that prize money, they launched the taxi-hailing mobile app, MyTeksi, in June 2012.</p><p>MyTeksi quickly gained traction in Malaysia, as it offers safer and more reliable taxi rides. Eventually, the two founders realized that they could offer the same service in neighboring countries where ride-hailing technology is still nonexistent.</p><p>Without hesitation, they rebranded the company as GrabTaxi and entered other Southeast Asian markets over the next few years, including Singapore, Indonesia, Thailand, the Philippines, Vietnam, Cambodia, and Myanmar.</p><p>In addition, in 2014, GrabTaxi secured its first major funding of $65M from outside investors, enabling the company to launch additional services and more importantly, compete effectively against other ride-hailing platforms that have just launched as well — including Uber, which Grab ended up acquiring in 2018.</p><p>In 2016, the company rebranded to Grab. Fast forward to 2021, Grab went public in the U.S. through a SPAC merger with <a href=\"https://laohu8.com/S/AGCUU\">Altimeter Growth</a> Corp., valuing the company at $40B, which, at that time, was the largest-ever U.S. equity listing by a Southeast Asian company.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b391cc2abc29d467b07804871923a5b6\" tg-width=\"640\" tg-height=\"325\"/></p><p>App Store</p><p></p><p>Today, Grab is the leading superapp in Southeast Asia, offering deliveries, mobility, financial, and enterprise services, connecting millions of consumers, merchants, and partners across 500+ cities and 8 countries — all in a single platform.</p><ul style=\"\"><li><p><strong>Deliveries</strong>: In 2015, Grab got into the deliveries business through the launch of its package delivery service, GrabExpress. A few years later, Grab expanded to food (GrabFood) and grocery (GrabMart) deliveries as well. In 2022, Grab acquired Jaya Grocer, a leading supermarket chain in Malaysia, which greatly expanded its GrabMart offering.</p></li><li><p><strong>Mobility</strong>: This is Grab&#39;s flagship offering. Just like Uber, Grab offers ride-hailing services across a variety of options including private cars (GrabCar), taxis (GrabTaxi), and motorcycles (GrabBike). Speaking of which, Grab acquired Uber&#39;s Southeast Asia operations in 2018, further expanding Grab&#39;s ride-hailing and food delivery businesses. In exchange, Uber took a 27.5% stake in Grab with Uber CEO Dara Khosrowshahi joining the board.</p></li><li><p><strong>Financial Services</strong>: In 2017, Grab expanded to the financial sector by launching GrabPay, its mobile wallet offering. To expedite its market presence, in 2021, Grab acquired a 90% stake in OVO, one of the largest mobile wallets in Indonesia. Within the Grab platform, Grab also offers lending (GrabFinance), buy now pay later (PayLater), and insurance (GrabInsure) services. Outside of the Grab platform, Grab also offers digital banking solutions.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/526ebb6a22755937e2a8c1803c3193c4\" tg-width=\"640\" tg-height=\"359\"/></p><p>Grab 2022 Investor Day Presentation</p><p></p><ul style=\"\"><li><p><strong>Enterprise</strong>: Grab also provides value-added services for businesses. This includes its advertising services through GrabAds, which allows offline and online advertising via Grab&#39;s fleet and mobile app. In addition, Grab offers mapping and location-based services through GrabMaps, which allows enterprises to embed Grab&#39;s map, routing, search, traffic, and navigation features.</p></li></ul><p>In essence, Grab is the everyday app for everyday consumers — the company focuses on everyday transactions such as transportation, eating, paying, and more.</p><p>Grab wants consumers to live and breathe within the Grab ecosystem.</p><p>More importantly, through these transactions and interactions within the ecosystem, Grab aims to drive Southeast Asia forward by creating economic empowerment for everyone — that includes consumers, drivers, and merchants.</p><p>That&#39;s what a superapp is all about — and Grab might just be the only company that has a chance of achieving and maintaining &#34;superapp&#34; status in Southeast Asia.</p><p>Why?</p><p>Because Grab has some of the most impenetrable moats I&#39;ve ever seen in a business.</p><h2 id=\"id_3836700407\">Moats</h2><p>According to Morningstar, there are five sources of sustainable competitive advantages.</p><p>I believe Grab has all five.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a526a8e563ca86b31471d033797f261f\" tg-width=\"640\" tg-height=\"250\"/></p><p>Morningstar</p><p></p><p><strong><em>Intangible Assets</em></strong></p><p>Per Morningstar:</p><blockquote><p><strong>Intangible assets</strong> are things such as patents, government licenses, and brand identity that keep a company ahead and competitors at bay.</p></blockquote><p>Without a doubt, Grab is one of the most powerful brands in Southeast Asia. Just like Uber, it is a household name — a verb.</p><p>&#34;I don&#39;t have a car but I can just <em>Grab</em> later on.&#34;</p><p>&#34;I&#39;m hungry. You wanna <em>Grab </em>some food?&#34;</p><p>&#34;I can&#39;t meet you tonight. I&#39;ll just <em>Grab</em> the documents to you&#34;.</p><p>It&#39;s very difficult for companies to become a verb — only the best do.</p><p>And Grab <em>is</em> the best.</p><p>Everywhere you go in Southeast Asia, you see Grab&#39;s green logo embossed on its fleet of cars, on the jackets of its riders, and at the checkout point of its merchants.</p><p>I can say this confidently because I&#39;m a user myself who lives in Indonesia and travels frequently to Singapore — two of Grab&#39;s largest and most important markets.</p><p>Southeast Asia is literally turning <em>greener</em> by the day because of Grab.</p><p>That speaks volumes about its brand identity and power.</p><p><strong><em>Switching Costs</em></strong></p><p>According to Morningstar:</p><blockquote><p><strong>Switching costs</strong> are obstacles that keep customers from changing between products, like from one company’s product to a competitor’s.</p></blockquote><p>Imagine having a state-of-the-art everyday app with all the features and services that fulfill your daily needs — all at your fingertips. Furthermore, you get the most complete catalog of transportation types, merchant providers, and food items. Service quality — including speed of execution, ease of use, customer service, etc. — is also top-notch.</p><p>Now why would you use a different app that offers fewer services or lower quality?</p><p>Price is one reason, but other than that, I don&#39;t see any other reason why you would switch out of the platform.</p><p>Moreover, as Grab introduces additional products and services on its platform, the more offerings consumers use. And the more offerings consumers use, the more loyal they become.</p><p>As you can see, retention rates increase meaningfully as consumers use more offerings, from as low as 37% for one offering, to as high as 88% when they use more than three offerings.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/7fef848ec97175d767dd7b891cc56895\" tg-width=\"640\" tg-height=\"348\"/></p><p>Grab FY2022 Annual Report</p><p></p><p>Additionally, subscription services such as GrabUnlimited and rewards programs such as GrabRewards are driving even higher engagement within the platform, further amplifying Grab&#39;s switching cost moats.</p><p>For instance, GrabUnlimited subscribers now account for one-third of Deliveries Gross Merchandise Volume (GMV) with subscribers spending 4.2x more on food deliveries than non-subscribers.</p><p>Not only that, Grab sees similar trends in its financial services segment (emphasis added):</p><blockquote><p>We continue to see strong ecosystem uplifts from our payments and lending business, with users from GrabPay spending <strong>4 times more and having 1.5 times higher retention rates</strong> than cash users. Our driver partners who take on a loan with us also recorded <strong>1.5 times higher retention</strong> compared to drivers without a loan.</p><p>(COO Alex Hungate — Grab FY2023 Q3 Earnings Call)</p></blockquote><p>More offerings drive higher cross-sell rates. Higher cross-sale rates drive higher retention rates. Higher retention rates drive higher spending, which ultimately leads to higher quality, more stable Revenue generation.</p><p>That, my friend, is high switching cost moats at play.</p><p><strong><em>Network Effect</em></strong></p><p>As described by Morningstar:</p><blockquote><p><strong>Network effects</strong> occur when the value of a good or service increases for both new and existing users as more people use it.</p></blockquote><p>In Grab&#39;s case, the more users join the platform, the more valuable the platform becomes. Suffice it to say, the Grab ecosystem is massive:</p><ul style=\"\"><li><p>37.7M Monthly Transacting Users (MTUs).</p></li><li><p>4M+ merchants.</p></li><li><p>5M+ drivers.</p></li><li><p>Processing 10M+ transactions daily.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/17002aeacdda75523fccf70ada2cfeae\" tg-width=\"640\" tg-height=\"360\"/></p><p>Grab 2022 Investor Day Presentation</p><p></p><p>At the same time, Grab&#39;s enormous network also makes cross-selling incredibly efficient. For example, following the launch of GXBank in Malaysia in November 2023, GXBank was able to attract 100K+ depositors within two weeks, with 79% of GXBank depositors being existing Grab users.</p><p>According to ASEAN, there are 680M people in Southeast Asia, which means Grab has a market penetration rate of about 5.5%. This also means that Grab has so much more room for growth.</p><p>As Grab adds more offerings, more consumers should join the platform. This should increase overall platform engagement, which will eventually lead to more income opportunities for drivers and merchants. Consequently, more drivers and merchants will also join the platform, which ultimately leads to even more consumers.</p><p>This is the Grab ecosystem flywheel in motion which creates powerful network effects for the business.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/bebbd1ac443eaffa30c0492625bb9b05\" tg-width=\"640\" tg-height=\"358\"/></p><p>Grab Investor Presentation April 2021</p><p></p><p><strong><em>Cost Advantage</em></strong></p><p>Looking at Morningstar&#39;s definition:</p><blockquote><p>A company with a <strong>cost advantage</strong> can produce goods or services at a lower cost, allowing it to undercut its competitors or achieve higher profitability.</p></blockquote><p>GoTo — the parent company of GoJek and Tokopedia, Indonesia&#39;s largest mobility and e-commerce companies — is the closest competitor to Grab.</p><p>If we take a look at GoTo&#39;s On-Demand Services segment, we can see that GoTo has an Adjusted EBITDA Margin of 1.7% (as a % of Gross Merchandise Volume) in Q4 of 2023.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/444dbe3f5d8512b2796ad6078c9964ca\" tg-width=\"640\" tg-height=\"360\"/></p><p>GoTo FY2023 Q4 Investor Presentation</p><p></p><p>In contrast, Grab&#39;s On-Demand segment produced $278M of Adjusted EBITDA in Q4 last year, at an Adjusted EBITDA Margin of 6.7% (as a % of GMV).</p><p>In other words, Grab has a huge cost advantage over GoTo — I&#39;m not even going to compare it with smaller competitors since they most likely have much worse unit economics.</p><p>Why?</p><p>Because Southeast Asia is a highly competitive market and the only way to achieve profitability is to have a large enough scale to gain operating leverage — Grab has the scale, and subsequently, the cost advantage to defeat its competition.</p><p>This brings us to the last moat...</p><p><strong><em>Efficient Scale</em></strong></p><p>... which is the most important of all:</p><blockquote><p><strong>Efficient scale</strong> benefits companies operating in a market that only supports one or a few competitors, limiting rivalry.</p></blockquote><p>Much like how the US ride-hailing and food delivery industries are dominated by a few players like Uber and DoorDash (DASH), the Southeast Asian market is also a winner-takes-most market.</p><p>As it stands, Grab is the largest player in Mobility, Deliveries, and Financial Services in Southeast Asia.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/482aab00a4bd3c35b4a01100f1d6b8c0\" tg-width=\"640\" tg-height=\"356\"/></p><p>Grab Investor Presentation April 2021</p><p></p><p>Below, we can see that Grab has the lion&#39;s share in the food delivery market in each of the Southeast Asian countries. In 2023, Grab processed $9.4B of food deliveries GMV, which is many times larger than its closest competitor, Food Panda, which has an estimated GMV of only $2.3B.</p><blockquote><p>Southeast Asia is a fertile ground for us. We&#39;re now the largest on-demand platform in the region at a scale that is <strong>over three times larger than our next closest competitor</strong> and yet, there&#39;s still a lot for us to achieve for our partners in this region.</p><p>(CEO Anthony Tan — Grab FY2023 Q4 Earnings Call.)</p></blockquote><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/42ed571dd09e6f7c0d2c9c6aab7c1260\" tg-width=\"1280\" tg-height=\"720\"/></p><p>Momentum Works</p><p></p><p>As far as I know, Grab is also the most capitalized player in Southeast Asia. Being the most funded business enables Grab to take market share and expand even more aggressively than competitors. This is one of the major reasons why Uber failed in Southeast Asia.</p><p>According to INSEAD, Grab overtook Uber as the leader in Southeast Asia due to its massive funding of $4B. Uber, on the other hand, only spent $700M in the region.</p><p>Basically, scale is the most important competitive moat because it reinforces the other four moats:</p><ul style=\"\"><li><p>With scale, the brand strengthens</p></li><li><p>With scale, the cost to switch increases</p></li><li><p>With scale, the network effect becomes more powerful</p></li><li><p>With scale, the cost structure improves.</p></li></ul><p>That being said, I believe Grab has all five of Morningstar&#39;s moats, which makes it one of the most durable businesses in modern times — its moats will ultimately allow Grab to not only crush competition but also sustain profitability and capture growth opportunities.</p><h2 id=\"id_2964482631\">Growth</h2><p>Before we dive into the financials, let&#39;s talk about how Grab generates and recognizes Revenue.</p><p>Grab operates four business segments, namely: Deliveries, Mobility, Financial Services, and Enterprise.</p><p>Below, you can see what a typical food Delivery transaction looks like.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/986bd24a5744a9c7a7f39d8c52d93b40\" tg-width=\"640\" tg-height=\"405\"/></p><p>Grab FY2022 Annual Report</p><p></p><p>As you can see, Grab acts as the middleman that connects three different parties: consumers, drivers, and merchants.</p><ul style=\"\"><li><p><strong>Consumers</strong> pay food costs and non-food costs, minus consumer incentives.</p></li><li><p><strong>Drivers</strong> earn non-food GMV, plus driver incentives.</p></li><li><p><strong>Merchants</strong> earn food GMV, plus merchant incentives.</p></li><li><p>In exchange for using Grab&#39;s platform, drivers and merchants pay commissions to Grab.</p></li><li><p><strong>Grab</strong> generates Revenue by taking these commissions and subtracting any incentives that it gives out to drivers and merchants.</p></li></ul><p>Grab also generates Mobility Revenue in a similar fashion, just that merchants are not involved in the transaction.</p><p>So, Deliveries and Mobility make up the On-Demand segments of the company.</p><p>In addition, Grab also generates Financial Services revenue through transaction fees. The segment also earns non-transaction fees through services such as lending and insurance.</p><p>Finally, Grab generates Enterprise Revenue mainly through advertising services.</p><p>With that out of the way, let&#39;s take a look at Grab&#39;s growth trajectory.</p><p>In 2023, GMV was $20.1B, up 5% YoY. In Q4, GMV was $5.4B, up 9% YoY. Growth was primarily due to the expansion of its Mobility and Deliveries segment, which I&#39;ll go into more detail later on.</p><p>That said, growth has accelerated for three straight quarters, which is a good sign that the company is gaining momentum and market share.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/90ead2d6e197289f4e996e6bfc707f6f\" tg-width=\"640\" tg-height=\"268\"/></p><p>Author&#39;s Analysis</p><p></p><p>GMV was also driven by increasing MTUs in the platform, which was 37.7M as of Q4, up 12% YoY. The number of users on a platform is one of the most important metrics to track since users are a leading indicator of future Revenue growth. In addition, user growth is an indication of strong platform engagement and increasing network effect moats.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/6af17b28cc8cb3b58bc618ca0b7340df\" tg-width=\"640\" tg-height=\"268\"/></p><p>Author&#39;s Analysis</p><p></p><p>That said, let&#39;s look at GMV by segment.</p><p>As you can see, all segments are showing robust growth.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/3248bd0b8298460f962f161169baa181\" tg-width=\"640\" tg-height=\"331\"/></p><p>Author&#39;s Analysis</p><p></p><p>Q4 <strong>Deliveries </strong>GMV was $2.6B, up 13% YoY, due to higher spend per user and higher Deliveries MTUs, which reached an all-time high in Q4.</p><p>Greater affordability of Grab&#39;s services also contributed to growth. For instance, Saver deliveries — which offer a lower delivery fee in exchange for a longer delivery time — increased average order frequency by 1.6x, as compared to non-Saver users. Saver was first launched in Q1 last year and has now accounted for more than 23% of Deliveries transactions.</p><p>Moving on, <strong>Mobility </strong>GMV grew strongly in Q4, which was $1.5B, up 28% YoY. Of important note, the Mobility segment was heavily impacted by the pandemic but has now fully recovered with GMV exceeding pre-covid levels for the first time in Q4. This was driven by higher Mobility MTUs, higher average order frequency, and the rebound in the travel industry.</p><p>Grab is experiencing strong demand for its Mobility services which is why management is focusing on expanding its driver supply and improving driver efficiency. As you can see, Grab managed to increase its driver supply by 11% YoY in Q4, which consequently reduced surged rides by 6% YoY and increased average transactions per MTU by 11%.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c7476c064d0663465d3e7b0fe7bba9b0\" tg-width=\"640\" tg-height=\"271\"/></p><p>Grab FY2023 Q4 Investor Presentation</p><p></p><p>Next, the <strong>Financial Services</strong> segment grew Total Payment Volume, or TPV, by 6% YoY in Q4, to nearly $4B.</p><ul style=\"\"><li><p>Q4 <strong>On-Grab Volume</strong> — consisting of transactions inside Grab&#39;s platform like using GrabPay to pay for Deliveries and Mobility services — was $2.7B, growing 18% YoY.</p></li><li><p>Q4 <strong>Off-Grab Volume</strong> — consisting of transactions outside Grab&#39;s platform like using GrabPay in an offline restaurant — was $1.3B, declining 14% YoY.</p></li></ul><p>The growth in On-Grab Volume and decline in Off-Grab Volume reflect management&#39;s focus on driving ecosystem transactions, as the unit economics for Off-Grab transactions were not as attractive:</p><blockquote><p>You&#39;ll remember going all the way back to September 2022 when we had the Investor Day, we talked about <strong>moving away from the off-platform payments</strong> <strong>business where the transaction margins were not contributing to our path to profitability</strong>.</p><p>That&#39;s been ongoing. Off-platform transactions continue to fall. And that means that the margin mix improves for our payments business.</p><p>(COO Alex Hungate — Grab FY2023 Q3 Earnings Call, emphasis added.)</p></blockquote><p>Finally, Q4 <strong>Enterprise GMV</strong> was $64M, up 40% YoY, due to the growth of Grab&#39;s advertising business. This is still a small segment so growth will likely be volatile in the short-to-medium term.</p><p>That being said, Revenue for the full year was $2.4B, up 65% YoY. This beat management&#39;s initial guidance of $2.2B to $2.3B.</p><p>In Q4, Revenue was $653M, up 30% YoY. This beat analyst estimates by $20M.</p><p>Great to see Grab outperform expectations.</p><p>Growth was mainly due to GMV growth across all segments, a change in business model for certain delivery offerings, and the reduction in incentives.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/21fafa0a97d456765bc93184d1b1308a\" tg-width=\"640\" tg-height=\"264\"/></p><p>Author&#39;s Analysis</p><p></p><p>If you haven&#39;t realized, Revenue grew much faster than GMV, and this is due to the reduction of incentives.</p><p>As a reminder, Grab&#39;s Revenue is equal to the commissions and fees it collects from drivers and merchants, minus any incentives it gives out to these partners and its consumers.</p><p>As you can see, Grab&#39;s Total Incentives as a % of GMV was as high as 13% in Q4 of 2021. This was an effort to defend against competition as well as mitigate consumers and partners from churning during the pandemic.</p><p>However, as market conditions stabilized, Grab was able to reduce incentives without jeopardizing the company&#39;s growth. As of Q4, Incentives as a % of GMV was 7.3%, down from 8.2% last year, which led to robust Revenue growth.</p><p>Ideally, we want to see this metric continue to decline.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/6a94d14abec08ff3a06e66ad3d477ee8\" tg-width=\"640\" tg-height=\"268\"/></p><p>Author&#39;s Analysis</p><p></p><p>Below, you can see strong Revenue growth for each of Grab&#39;s segments, driven by platform monetization and incentive reduction.</p><ul style=\"\"><li><p>Q4 <strong>Deliveries </strong>Revenue was $321M, up 20% YoY.</p></li><li><p>Q4 <strong>Mobility </strong>Revenue was $237M, up 26% YoY.</p></li><li><p>Q4 <strong>Financial Services </strong>Revenue was $56M, up 102% YoY.</p></li><li><p>Q4 <strong>Enterprise </strong>Revenue was $39M, up 124% YoY.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/2649101611b99536e6a9641e1a3309ab\" tg-width=\"640\" tg-height=\"334\"/></p><p>Author&#39;s Analysis</p><p></p><p>Of particular note, the Financial Services and Enterprise segments grew triple-digits YoY. I believe these smaller segments could be major contributors to growth in the coming years as Grab continues to monetize its user base.</p><p>For instance, Grab is ramping up investments in its Financial Services segment.</p><ul style=\"\"><li><p>In October 2023, KakaoBank (South Korea&#39;s leading digital bank) invested a 10% stake in Grab&#39;s Superbank in Indonesia.</p></li><li><p>In November 2023, Grab also launched GXBank in Malaysia, the first digital bank ever in the country.</p></li><li><p>Additionally, Grab is growing its lending business rapidly, with total loans disbursed increasing 57% YoY to $1.5B in 2023.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/993379c1b1f66fb52e6dffe425482ce4\" tg-width=\"640\" tg-height=\"356\"/></p><p>Grab FY2023 Q4 Investor Presentation</p><p></p><p>In addition, Grab&#39;s Enterprise segment — which consists primarily of advertising — is still in its early innings. The segment is quickly gaining traction with self-serve active advertisers increasing 54% YoY and average spend by active advertisers growing 129% YoY.</p><p>All in all, Grab is showing strong growth as it recovers from the economic shock left by the pandemic.</p><p>All its segments are generating record-high GMV (and TPV), and I don&#39;t see any signs of slowing down given Grab&#39;s durable competitive moats.</p><p>What&#39;s more, platform monetization and incentive optimization are improving, which should lead to robust Revenue and earnings growth moving forward.</p><h2 id=\"id_1708630627\">Profitability</h2><p>In this section, I will analyze Grab&#39;s profit margins by using GMV as the denominator (instead of Revenue). This way, we can see how margins are trending without the volatility of Revenue since Revenue is largely affected by total incentives paid.</p><p>That said, Q4 Gross Profit was $276M, which was 5.1% of GMV. As you can see, Grab was Gross-Profit-negative a couple of years ago due to the company pumping massive amounts of incentives to consumers and partners. However, Gross Profit has turned positive as the company focuses on profitable growth.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/a773748115d4f4d2dbf3ffc296360c5a\" tg-width=\"640\" tg-height=\"264\"/></p><p>Author&#39;s Analysis</p><p></p><p>On the other hand, Operating Profit is still negative at $(46)M in Q4, which was (0.8)% of GMV. On the bright side, Grab is showing strong operating leverage and a clear path towards profitability — Operating Margin improved by 430 basis points YoY and 90 basis points QoQ, which means that Operating Profit is on track to turn positive as early as Q1 this year.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c00e5b1c792cb3c441fe5e8481b44abe\" tg-width=\"640\" tg-height=\"264\"/></p><p>Author&#39;s Analysis</p><p></p><p>In terms of the bottom line, Grab turned profitable on a Net Income basis for the first time ever. In Q4, Net Income was $11M, which was 0.2% as a % of GMV. Net Income was better than Operating Profit due to improvement in fair value changes in investments as well as higher net interest income.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/16b81137c747616717d2612f1e9ab95a\" tg-width=\"640\" tg-height=\"264\"/></p><p>Author&#39;s Analysis</p><p></p><p>Increases in Adjusted EBITDA also contributed to income growth.</p><p>As you can see, Total Segment Adjusted EBITDA has been increasing with each passing quarter with $228M in Q4, which is 4.2% of GMV, up 200 basis points YoY.</p><p>Subtracting Regional Corporate Costs, we get Adjusted EBITDA, which has been improving as well. In Q4, Adjusted EBITDA was $35M, which is the eight consecutive quarter of improvement. This represents 0.6% of GMV, up 280 basis points YoY, due to lower Regional Corporate Costs as the company began layoffs in June last year.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b3c4b4d196463e6415b393c7e711edc6\" tg-width=\"606\" tg-height=\"313\"/></p><p>Author&#39;s Analysis</p><p></p><p>Looking at Segment Adjusted EBITDA, we can see the profitability of each segment:</p><ul style=\"\"><li><p>Q4 <strong>Deliveries </strong>Adjusted EBITDA: $96M, or 3.8% of GMV. Margins continue to improve due to incentive optimization, operating leverage, and GMV growth. Moving forward, management expects Adjusted EBITDA Margin to expand by another 100 to 200 basis points.</p></li><li><p>Q4 <strong>Mobility </strong>Adjusted EBITDA: $182M, or 12.3% of GMV. Margins were down 90 basis points YoY and 50 basis points QoQ. Nevertheless, notice how much more profitable the Mobility Segment is compared to Deliveries. This is because of less competition in the Mobility space since Grab is virtually a monopoly in the Mobility segment — less competition means higher pricing power, which leads to higher margins.</p></li><li><p>Q4<strong> Financial Services </strong>Adjusted EBITDA: $(81)M, or (2.0)% of TPV. This segment is the only unprofitable segment as management continues to invest in the fintech market. Of important note, Adjusted EBITDA dropped QoQ due to the launch of GXBank in Malaysia.</p></li><li><p>Q4 <strong>Enterprise </strong>Adjusted EBITDA: $31M, or 49.1% of GMV. Adjusted EBITDA Margin expanded by about 35 percentage points YoY and 8 percentage points QoQ, showing strong operating leverage mainly due to the ramp in Revenue. The Enterprise segment could be a major cash cow in the future, given its strong growth and profitability profile.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/5e472e11e5d2aad43911bb0346e5169d\" tg-width=\"640\" tg-height=\"335\"/></p><p>Author&#39;s Analysis</p><p></p><p>As you know, Grab has been operating at massive losses in the first decade of its existence, due to heavy investments to acquire users, launch new products, and expand geographically.</p><p>But recently, the company has just turned Net Income profitable as the company focused on optimizing incentives, improving its cost structure, and scaling Revenue.</p><p>As we&#39;ve seen, Grab&#39;s profitability metrics are all trending in the right direction, showing strong economies of scale over the last few quarters.</p><p>This will not only make the company self-sufficient but also strengthen its cost advantage and efficient scale moats, leading to an even stronger competitive positioning.</p><p>All things considered, this is just the beginning of Grab&#39;s profitability journey.</p><h2 id=\"id_4105193538\">Health</h2><p>Along with improving profitability, Grab also has a fortress balance sheet.</p><p>As of Q4, Grab has a Net Cash position of about $4.3B, which is over 30% of its current Market Cap of $12.4B. Net Cash has been on a downfall, but that&#39;s understandable given that the company is still in investment mode. However, Net Cash balance should grow over the next few quarters as Grab continues to improve profitability.</p><p>Management also plans to repay their Term Loan B debt facility, which is expected to reduce annual interest expenses by $50M, further improving profitability and cash flows.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8775fa94d281350072bf21796f2e9fa9\" tg-width=\"640\" tg-height=\"265\"/></p><p>Author&#39;s Analysis</p><p></p><p>In terms of cash flow, Grab is still cash flow negative on an annual basis.</p><p>In 2023, Free Cash Flow was $(54)M, a major improvement from $(932)M in 2022. However, this includes $184M of Loans Receivables and $364M of Customer Deposits — adjusting for this, Adjusted FCF was $(234)M in 2023, still a decent improvement from $(825)M in 2022. This was mainly driven by higher Cash Flow from Operations, which turned positive in 2023 — great to see but still a lot of work to do.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/df98df7b5216af88c1e9d3500e626092\" tg-width=\"640\" tg-height=\"271\"/></p><p>Grab FY2023 Q4 Investor Presentation</p><p></p><p>Nevertheless, in light of Grab&#39;s improving profitability and strong balance sheet, Grab announced a $500M share buyback program, which reflects not only management&#39;s confidence about the financial health of the company but also how attractive the valuation of the company is at current prices.</p><h2 id=\"id_2201611812\">Outlook</h2><p>Turning to the outlook, management provided the following guidance:</p><ul style=\"\"><li><p><strong>2024 Revenue</strong> of $2.725B at the midpoint, implying a 15.5% growth YoY. This is a steep deceleration from 2023&#39;s growth of 65% YoY and this fell short of analyst estimates of $2.82B, which are two big reasons why the stock sold off following Q4 earnings.</p></li><li><p><strong>2024 Group Adjusted EBITDA</strong> of $190M at the midpoint, which is a significant improvement from last year&#39;s figure of $(22)M.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c84e1903c3beb9ce28ad8a3a70813f30\" tg-width=\"640\" tg-height=\"276\"/></p><p>Grab FY2023 Q4 Investor Presentation</p><p></p><p>The CFO also gave out more details about their outlook:</p><ul style=\"\"><li><p><strong>Q1 On-Demand GMV</strong> is expected to be stable QoQ. As a reference, Q4 On-Demand GMV was $4.1B, so if Q1 saw the same level of GMV as Q4, it implies a 16% YoY growth in On-Demand GMV in Q1. Moving forward, management expects &#34;to see a sequential rebound of GMV in the second quarter and continued growth during the year&#34;. In other words, expect strong On-Demand GMV growth throughout 2024.</p></li><li><p>Management expects <strong>Mobility margins</strong> to remain stable at &#34;around 12% plus&#34; and <strong>Deliveries margins </strong>to be &#34;3% plus through 2024&#34;. In other words, expect little to no improvements in On-Demand margins in 2024. However, they expect Deliveries margins to expand 100 to 200 basis points beyond 2024 as the company rolls out new product features that drive operating leverage and platform monetization.</p></li><li><p>For the <strong>Financial Services</strong> segment, management expects &#34;losses to sequentially narrow heading into 2024&#34;. Put simply, expect Financial Services margins to improve moving forward.</p></li><li><p>Next, expect <strong>2024</strong> <strong>Adjusted FCF </strong>to &#34;improve substantially&#34; YoY as the company continues to drive operating leverage.</p></li><li><p>Beyond 2024, management also expects <strong>Revenue </strong>growth to accelerate as the company scales new products and services such as GrabUnlimited, GXBank, and Family Accounts.</p></li></ul><p>In short, growth is expected to remain robust as Grab pulls multiple growth levers across its four segments. In addition, profitability is only going to get better from here which should accelerate earnings growth in the coming years.</p><p>Whatever it is, Grab — although more than a decade old — is still in its early stages of growth, due to the undergoing digital transformation in Southeast Asia.</p><p>According to the e-Conomy SEA 2023 report, food delivery GMV and mobility GMV in Southeast Asia are expected to grow at a 12% and 18% CAGR, respectively, from 2023 to 2025. In addition, digital advertising GMV is set to expand by 15% through 2025.</p><p>But the most exciting growth opportunity for Grab lies in the fintech sector. According to the report, digital financial services adoption in Southeast Asia is deemed irreversible. As you know, Grab offers digital payments, lending, and insurance services currently, and these subsectors are expected to take off in the next few years as you can see below.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/0b6c1621a6f2187bb95539cbcb1781c6\" tg-width=\"640\" tg-height=\"361\"/></p><p>e-Conomy SEA 2023</p><p></p><p>Given the underbanked and unbanked majority in Southeast Asia, I believe Grab&#39;s Financial Services has a long growth runway ahead. Scaling its financial products should be seamless as Grab can distribute them through its superapp — Grab has the luxury to rapidly cross-sell its products by tapping its massive scale and network.</p><p>For these reasons, I believe the full potential of Grab&#39;s digital Financial Services segment has yet to be realized.</p><p>That being said, Grab has a massive growth runway ahead as the regional leader in deliveries, mobility, and financial services — the growth of the digital economy in Southeast Asia will be a massive tailwind for the superapp.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/8aecc3f81628199c889ef0670dac776a\" tg-width=\"640\" tg-height=\"361\"/></p><p>e-Conomy SEA 2023</p><p></p><h2 id=\"id_306308811\">Valuation</h2><p>Valuing Grab is quite a challenge since the company just turned profitable and that management has not issued long-term financial targets.</p><p>That said, Grab currently trades at an EV to Revenue multiple of just 3.5x, which is quite cheap relative to its peak multiple of 32x and average multiple of 7.5x.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/59c8cfa3767c380690d6a1600aa1d4b7\" tg-width=\"635\" tg-height=\"424\"/></p><p>Data by YCharts</p><p></p><p>Given the complexity and uniqueness of Grab&#39;s business model, there&#39;s no direct competitor that we can compare with. Still, it&#39;s interesting to see Grab trading cheaper than its US peers Uber (4.4x) and DoorDash (5.6x) — perhaps, US stocks get a premium over Asian stocks.</p><p>On the other side, Grab is trading more expensively than fellow Southeast Asian conglomerate Sea Limited (SE), which is trading at 2.4x. And just for fun, I&#39;ve thrown in <a href=\"https://laohu8.com/S/PYPL\">PayPal</a> (PYPL) as well, which trades at 2.2x.</p><p>In my opinion, Grab should be trading at higher valuations compared to its peer group considering that Grab is essentially Uber, DoorDash, and PayPal mashed together.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c25f1127a9ce368841b8472acb28bbe8\" tg-width=\"635\" tg-height=\"490\"/></p><p>Data by YCharts</p><p></p><p>Performing a discounted cash flow (&#34;DCF&#34;) analysis on Grab is quite a redundant exercise, but I&#39;m going to attempt it anyway — using very conservative assumptions, of course.</p><p>I will be using Adjusted EBITDA as a proxy for Cash Flow from Operations, and then subtract Capital Expenditures and Income Tax to arrive at a figure close to the company&#39;s Adjusted FCF.</p><p>That said, here are my key assumptions:</p><ul style=\"\"><li><p><strong>GMV</strong> growth of 10% in the first five years and 8% in the last five years. I believe these are lowball estimates given Grab&#39;s leadership position and the growth of the digital economy in Southeast Asia.</p></li><li><p><strong>Adjusted EBITDA Margin</strong> as a % of GMV improving to 7% by 2033. Again, quite conservative given that:</p><ul style=\"\"><li><p>Deliveries margin is 3.6% in Q4 — and is still expanding.</p></li><li><p>Mobility margin is 12.3% in Q4 — and has remained stable for two years.</p></li><li><p>Financial Services margin, while still negative at (2.0)% of TPV, could surpass Deliveries and Mobility margins. For context, Sea Limited&#39;s SeaMoney has a high Adjusted EBITDA Margin as a % of Revenue of 31% in Q4.</p></li><li><p>Enterprise margin is already as high as 49.1% in Q4, which could drive meaningful margin expansion for the overall company.</p></li></ul></li><li><p><strong>Income Tax</strong> is set at a constant rate of 15% of Adjusted EBITDA.</p></li><li><p><strong>Capital Expenditures</strong> were 0.7% of GMV in the last two years so I will set it at 0.7% for all the years.</p></li></ul><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/058b0ead8e6d444fc9fd69360524d5ea\" tg-width=\"640\" tg-height=\"53\"/></p><p>Author&#39;s Analysis</p><p></p><p>Based on the assumptions above, I project a GMV of nearly $50B by 2033 at a Cash Flow Margin of about 5.3% of GMV.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/b10941aceca15068fd8e5a95c88bdd75\" tg-width=\"640\" tg-height=\"84\"/></p><p>Author&#39;s Analysis</p><p></p><p>Based on a perpetual growth rate of 2.5% and a discount rate of 10%, I arrive at an <strong>intrinsic value per share of $6.47 </strong>for Grab stock, which represents an upside of more than 100% at its current price of $3.17.</p><p>As a reference, analysts have an average price target of $4.64 for Grab stock with a street high of $7.00. As of this writing, there are 21 Strong Buy and 6 Buy recommendations, with ZERO Sell ratings.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/70463bf9ee7b098e346633b64525dd1a\" tg-width=\"640\" tg-height=\"219\"/></p><p>Seeking Alpha</p><p></p><p>I&#39;ve also included my bear and bull cases below.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/eae9dbe7ca46013b80e6a58b2b34aaae\" tg-width=\"542\" tg-height=\"252\"/></p><p>Author&#39;s Analysis</p><p></p><p>Institutions have also been piling on Grab stock, which could lift the stock higher.</p><p></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/629c9e72ff419332802657910482114a\" tg-width=\"640\" tg-height=\"361\"/></p><p>Fintel</p><p></p><p>To summarize, I believe Grab stock is significantly undervalued.</p><h2 id=\"id_3304382122\">Risks</h2><p>While Grab has established itself as Southeast Asia&#39;s most dominant on-demand services company, competition remains its biggest risk.</p><p>This includes GoJek, InDrive, and Bolt in the mobility space. Other international players may also enter Southeast Asia, including India&#39;s Ola Cabs and China&#39;s Didi Global.</p><p>In the deliveries segment, Grab faces competition from GoJek, ShopeeFood, Foodpanda, Deliveroo, Line Man Wongnai, and more. Other large delivery companies may also enter Southeast Asia, including San Francisco&#39;s DoorDash and India&#39;s Zomato.</p><p>In the fintech space, Grab is already dealing with strong opposition, including GoPay, ShopeePay, Dana, Google Pay, and so on.</p><p>All this competition may lead to a price war, forcing Grab to deploy more incentives to maintain market share. In addition, the services that Grab offers have the risk of being commoditized, which could mean lower profit margins and cash flows for the company.</p><p>However, I believe competition is more of a temporary issue than a permanent one. In my view, competition is unlikely to have the capital resources to compete with Grab on price. They may be able to undercut Grab for a while, but as I&#39;ve discussed earlier, they are incapable of doing so for a long period of time given Grab&#39;s cost advantage, network effects, and efficient scale moats. Not to forget, Grab has $4.3B of Net Cash at its disposal.</p><p>I think it&#39;s foolish to undercut Grab — it&#39;s like digging your own graves.</p><p>Other risks include regulations that could increase compliance costs as well as gig worker unions which could lead to lower commission rates for Grab.</p><h2 id=\"id_2387885\">Thesis</h2><p>In a nutshell, Grab is the baddest superapp in Southeast Asia — its strong brand, high switching costs, powerful network effects, low-cost advantage, and efficient scale moats solidify its status as the undisputed king in the region.</p><p>As the company turns profitable and focuses on profitable growth, Grab is in a prime position to capitalize on the growing digital economy in Southeast Asia.</p><p>Despite being a fundamentally stronger company today than it has ever been, Grab stock is still down 80%+ from its all-time highs. Moreover, Grab stock has been trading sideways for almost two years — it&#39;s essentially in hibernation.</p><p>With business momentum back in full force and with fundamentals improving with each passing quarter, it won&#39;t be long before the sleeping giant awakens.</p><p>With all this in mind, I have started a position in Grab stock.</p></body></html>","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>Grab: A Sleeping Giant</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrab: A Sleeping Giant\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-20 13:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4679210-grab-a-sleeping-giant><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Grab Holdings Limited is the baddest superapp in Southeast Asia, with seemingly impenetrable moats.The growth of the digital economy in Southeast Asia should be a massive tailwind for Grab....</p>\n\n<a href=\"https://seekingalpha.com/article/4679210-grab-a-sleeping-giant\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SG9999013486.USD":"LIONGLOBAL SINGAPORE DIVIDEND EQUITY (USD) INC A","SG9999001135.SGD":"United ASEAN Fund SGD","SG9999015945.SGD":"LionGlobal Disruptive Innovation Fund A SGD","LU0251143029.SGD":"Fidelity ASEAN A-SGD","GRAB":"Grab Holdings","LU0210637038.USD":"HSBC GIF THAI EQUITY \"AD\" INC","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","BK4554":"元宇宙及AR概念","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","SG9999015978.USD":"利安颠覆性创新基金A","SG9999014898.SGD":"United Global Quality Growth Fund Dis SGD","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","LU2089283258.USD":"安联环球可持续基金Cl AM Dis","SGXZ31699556.SGD":"UGDP UNITED GLOBAL QUALITY GROWTH \"C\" (SGDHDG) 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Acc","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","SG9999002604.SGD":"LionGlobal Singapore/Malaysia SGD","SG9999002679.SGD":"LionGlobal Singapore Balanced SGD","LU2089284900.SGD":"Allianz Global Sustainability Cl AM Dis H2-SGD","BK4209":"餐馆"},"source_url":"https://seekingalpha.com/article/4679210-grab-a-sleeping-giant","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"2420298788","content_text":"Grab Holdings Limited is the baddest superapp in Southeast Asia, with seemingly impenetrable moats.The growth of the digital economy in Southeast Asia should be a massive tailwind for Grab.Profitability is improving, with margins expanding across all segments.Yet, the stock is still down 80% from its all-time highs.I believe there's a huge disconnect between Grab Holdings fundamentals and valuation.IntroductionOver two years ago, when I heard about Grab Holdings Limited (NASDAQ:GRAB) going public at a $40B valuation, my initial reaction was that the company was probably overpriced.Looking back, I was right about this.Without even doing any research, I also made the uneducated conclusion that the on-demand business model in Southeast Asia might just be unsustainable and would remain unprofitable for all eternity.As it turns out, I was dead wrong about this — in Q4, the company turned GAAP profitable for the first time ever.Seeking AlphaSo after a flip to GAAP Net Income positivity and after an 80% decline in the stock price, I figured there might be some value in the stock — so I looked into it.After doing some research, I realized that Grab is a tech giant in hibernation.With that being said, grab (pun intended) a cup of coffee and get cozy, because this is a deep dive into Southeast Asia's superapp. Enjoy!CompanyA little over a decade ago, two Malaysian-born Harvard Business School students — Anthony Tan and Tan Hooi Ling — teamed up to pitch a business idea for the HBS New Venture Competition in July 2011.Anthony Tan, having grown up in a family that owned one of the largest automobile businesses in Malaysia, and Tan Hooi Ling, having experienced Malaysia's nightmare taxi industry while working at McKinsey, decided to replicate Uber's (UBER) ride-hailing service in the U.S. and bring it to their home, Malaysia.As it turned out, the pair finished second place in the competition, winning $25,000. With that prize money, they launched the taxi-hailing mobile app, MyTeksi, in June 2012.MyTeksi quickly gained traction in Malaysia, as it offers safer and more reliable taxi rides. Eventually, the two founders realized that they could offer the same service in neighboring countries where ride-hailing technology is still nonexistent.Without hesitation, they rebranded the company as GrabTaxi and entered other Southeast Asian markets over the next few years, including Singapore, Indonesia, Thailand, the Philippines, Vietnam, Cambodia, and Myanmar.In addition, in 2014, GrabTaxi secured its first major funding of $65M from outside investors, enabling the company to launch additional services and more importantly, compete effectively against other ride-hailing platforms that have just launched as well — including Uber, which Grab ended up acquiring in 2018.In 2016, the company rebranded to Grab. Fast forward to 2021, Grab went public in the U.S. through a SPAC merger with Altimeter Growth Corp., valuing the company at $40B, which, at that time, was the largest-ever U.S. equity listing by a Southeast Asian company.App StoreToday, Grab is the leading superapp in Southeast Asia, offering deliveries, mobility, financial, and enterprise services, connecting millions of consumers, merchants, and partners across 500+ cities and 8 countries — all in a single platform.Deliveries: In 2015, Grab got into the deliveries business through the launch of its package delivery service, GrabExpress. A few years later, Grab expanded to food (GrabFood) and grocery (GrabMart) deliveries as well. In 2022, Grab acquired Jaya Grocer, a leading supermarket chain in Malaysia, which greatly expanded its GrabMart offering.Mobility: This is Grab's flagship offering. Just like Uber, Grab offers ride-hailing services across a variety of options including private cars (GrabCar), taxis (GrabTaxi), and motorcycles (GrabBike). Speaking of which, Grab acquired Uber's Southeast Asia operations in 2018, further expanding Grab's ride-hailing and food delivery businesses. In exchange, Uber took a 27.5% stake in Grab with Uber CEO Dara Khosrowshahi joining the board.Financial Services: In 2017, Grab expanded to the financial sector by launching GrabPay, its mobile wallet offering. To expedite its market presence, in 2021, Grab acquired a 90% stake in OVO, one of the largest mobile wallets in Indonesia. Within the Grab platform, Grab also offers lending (GrabFinance), buy now pay later (PayLater), and insurance (GrabInsure) services. Outside of the Grab platform, Grab also offers digital banking solutions.Grab 2022 Investor Day PresentationEnterprise: Grab also provides value-added services for businesses. This includes its advertising services through GrabAds, which allows offline and online advertising via Grab's fleet and mobile app. In addition, Grab offers mapping and location-based services through GrabMaps, which allows enterprises to embed Grab's map, routing, search, traffic, and navigation features.In essence, Grab is the everyday app for everyday consumers — the company focuses on everyday transactions such as transportation, eating, paying, and more.Grab wants consumers to live and breathe within the Grab ecosystem.More importantly, through these transactions and interactions within the ecosystem, Grab aims to drive Southeast Asia forward by creating economic empowerment for everyone — that includes consumers, drivers, and merchants.That's what a superapp is all about — and Grab might just be the only company that has a chance of achieving and maintaining \"superapp\" status in Southeast Asia.Why?Because Grab has some of the most impenetrable moats I've ever seen in a business.MoatsAccording to Morningstar, there are five sources of sustainable competitive advantages.I believe Grab has all five.MorningstarIntangible AssetsPer Morningstar:Intangible assets are things such as patents, government licenses, and brand identity that keep a company ahead and competitors at bay.Without a doubt, Grab is one of the most powerful brands in Southeast Asia. Just like Uber, it is a household name — a verb.\"I don't have a car but I can just Grab later on.\"\"I'm hungry. You wanna Grab some food?\"\"I can't meet you tonight. I'll just Grab the documents to you\".It's very difficult for companies to become a verb — only the best do.And Grab is the best.Everywhere you go in Southeast Asia, you see Grab's green logo embossed on its fleet of cars, on the jackets of its riders, and at the checkout point of its merchants.I can say this confidently because I'm a user myself who lives in Indonesia and travels frequently to Singapore — two of Grab's largest and most important markets.Southeast Asia is literally turning greener by the day because of Grab.That speaks volumes about its brand identity and power.Switching CostsAccording to Morningstar:Switching costs are obstacles that keep customers from changing between products, like from one company’s product to a competitor’s.Imagine having a state-of-the-art everyday app with all the features and services that fulfill your daily needs — all at your fingertips. Furthermore, you get the most complete catalog of transportation types, merchant providers, and food items. Service quality — including speed of execution, ease of use, customer service, etc. — is also top-notch.Now why would you use a different app that offers fewer services or lower quality?Price is one reason, but other than that, I don't see any other reason why you would switch out of the platform.Moreover, as Grab introduces additional products and services on its platform, the more offerings consumers use. And the more offerings consumers use, the more loyal they become.As you can see, retention rates increase meaningfully as consumers use more offerings, from as low as 37% for one offering, to as high as 88% when they use more than three offerings.Grab FY2022 Annual ReportAdditionally, subscription services such as GrabUnlimited and rewards programs such as GrabRewards are driving even higher engagement within the platform, further amplifying Grab's switching cost moats.For instance, GrabUnlimited subscribers now account for one-third of Deliveries Gross Merchandise Volume (GMV) with subscribers spending 4.2x more on food deliveries than non-subscribers.Not only that, Grab sees similar trends in its financial services segment (emphasis added):We continue to see strong ecosystem uplifts from our payments and lending business, with users from GrabPay spending 4 times more and having 1.5 times higher retention rates than cash users. Our driver partners who take on a loan with us also recorded 1.5 times higher retention compared to drivers without a loan.(COO Alex Hungate — Grab FY2023 Q3 Earnings Call)More offerings drive higher cross-sell rates. Higher cross-sale rates drive higher retention rates. Higher retention rates drive higher spending, which ultimately leads to higher quality, more stable Revenue generation.That, my friend, is high switching cost moats at play.Network EffectAs described by Morningstar:Network effects occur when the value of a good or service increases for both new and existing users as more people use it.In Grab's case, the more users join the platform, the more valuable the platform becomes. Suffice it to say, the Grab ecosystem is massive:37.7M Monthly Transacting Users (MTUs).4M+ merchants.5M+ drivers.Processing 10M+ transactions daily.Grab 2022 Investor Day PresentationAt the same time, Grab's enormous network also makes cross-selling incredibly efficient. For example, following the launch of GXBank in Malaysia in November 2023, GXBank was able to attract 100K+ depositors within two weeks, with 79% of GXBank depositors being existing Grab users.According to ASEAN, there are 680M people in Southeast Asia, which means Grab has a market penetration rate of about 5.5%. This also means that Grab has so much more room for growth.As Grab adds more offerings, more consumers should join the platform. This should increase overall platform engagement, which will eventually lead to more income opportunities for drivers and merchants. Consequently, more drivers and merchants will also join the platform, which ultimately leads to even more consumers.This is the Grab ecosystem flywheel in motion which creates powerful network effects for the business.Grab Investor Presentation April 2021Cost AdvantageLooking at Morningstar's definition:A company with a cost advantage can produce goods or services at a lower cost, allowing it to undercut its competitors or achieve higher profitability.GoTo — the parent company of GoJek and Tokopedia, Indonesia's largest mobility and e-commerce companies — is the closest competitor to Grab.If we take a look at GoTo's On-Demand Services segment, we can see that GoTo has an Adjusted EBITDA Margin of 1.7% (as a % of Gross Merchandise Volume) in Q4 of 2023.GoTo FY2023 Q4 Investor PresentationIn contrast, Grab's On-Demand segment produced $278M of Adjusted EBITDA in Q4 last year, at an Adjusted EBITDA Margin of 6.7% (as a % of GMV).In other words, Grab has a huge cost advantage over GoTo — I'm not even going to compare it with smaller competitors since they most likely have much worse unit economics.Why?Because Southeast Asia is a highly competitive market and the only way to achieve profitability is to have a large enough scale to gain operating leverage — Grab has the scale, and subsequently, the cost advantage to defeat its competition.This brings us to the last moat...Efficient Scale... which is the most important of all:Efficient scale benefits companies operating in a market that only supports one or a few competitors, limiting rivalry.Much like how the US ride-hailing and food delivery industries are dominated by a few players like Uber and DoorDash (DASH), the Southeast Asian market is also a winner-takes-most market.As it stands, Grab is the largest player in Mobility, Deliveries, and Financial Services in Southeast Asia.Grab Investor Presentation April 2021Below, we can see that Grab has the lion's share in the food delivery market in each of the Southeast Asian countries. In 2023, Grab processed $9.4B of food deliveries GMV, which is many times larger than its closest competitor, Food Panda, which has an estimated GMV of only $2.3B.Southeast Asia is a fertile ground for us. We're now the largest on-demand platform in the region at a scale that is over three times larger than our next closest competitor and yet, there's still a lot for us to achieve for our partners in this region.(CEO Anthony Tan — Grab FY2023 Q4 Earnings Call.)Momentum WorksAs far as I know, Grab is also the most capitalized player in Southeast Asia. Being the most funded business enables Grab to take market share and expand even more aggressively than competitors. This is one of the major reasons why Uber failed in Southeast Asia.According to INSEAD, Grab overtook Uber as the leader in Southeast Asia due to its massive funding of $4B. Uber, on the other hand, only spent $700M in the region.Basically, scale is the most important competitive moat because it reinforces the other four moats:With scale, the brand strengthensWith scale, the cost to switch increasesWith scale, the network effect becomes more powerfulWith scale, the cost structure improves.That being said, I believe Grab has all five of Morningstar's moats, which makes it one of the most durable businesses in modern times — its moats will ultimately allow Grab to not only crush competition but also sustain profitability and capture growth opportunities.GrowthBefore we dive into the financials, let's talk about how Grab generates and recognizes Revenue.Grab operates four business segments, namely: Deliveries, Mobility, Financial Services, and Enterprise.Below, you can see what a typical food Delivery transaction looks like.Grab FY2022 Annual ReportAs you can see, Grab acts as the middleman that connects three different parties: consumers, drivers, and merchants.Consumers pay food costs and non-food costs, minus consumer incentives.Drivers earn non-food GMV, plus driver incentives.Merchants earn food GMV, plus merchant incentives.In exchange for using Grab's platform, drivers and merchants pay commissions to Grab.Grab generates Revenue by taking these commissions and subtracting any incentives that it gives out to drivers and merchants.Grab also generates Mobility Revenue in a similar fashion, just that merchants are not involved in the transaction.So, Deliveries and Mobility make up the On-Demand segments of the company.In addition, Grab also generates Financial Services revenue through transaction fees. The segment also earns non-transaction fees through services such as lending and insurance.Finally, Grab generates Enterprise Revenue mainly through advertising services.With that out of the way, let's take a look at Grab's growth trajectory.In 2023, GMV was $20.1B, up 5% YoY. In Q4, GMV was $5.4B, up 9% YoY. Growth was primarily due to the expansion of its Mobility and Deliveries segment, which I'll go into more detail later on.That said, growth has accelerated for three straight quarters, which is a good sign that the company is gaining momentum and market share.Author's AnalysisGMV was also driven by increasing MTUs in the platform, which was 37.7M as of Q4, up 12% YoY. The number of users on a platform is one of the most important metrics to track since users are a leading indicator of future Revenue growth. In addition, user growth is an indication of strong platform engagement and increasing network effect moats.Author's AnalysisThat said, let's look at GMV by segment.As you can see, all segments are showing robust growth.Author's AnalysisQ4 Deliveries GMV was $2.6B, up 13% YoY, due to higher spend per user and higher Deliveries MTUs, which reached an all-time high in Q4.Greater affordability of Grab's services also contributed to growth. For instance, Saver deliveries — which offer a lower delivery fee in exchange for a longer delivery time — increased average order frequency by 1.6x, as compared to non-Saver users. Saver was first launched in Q1 last year and has now accounted for more than 23% of Deliveries transactions.Moving on, Mobility GMV grew strongly in Q4, which was $1.5B, up 28% YoY. Of important note, the Mobility segment was heavily impacted by the pandemic but has now fully recovered with GMV exceeding pre-covid levels for the first time in Q4. This was driven by higher Mobility MTUs, higher average order frequency, and the rebound in the travel industry.Grab is experiencing strong demand for its Mobility services which is why management is focusing on expanding its driver supply and improving driver efficiency. As you can see, Grab managed to increase its driver supply by 11% YoY in Q4, which consequently reduced surged rides by 6% YoY and increased average transactions per MTU by 11%.Grab FY2023 Q4 Investor PresentationNext, the Financial Services segment grew Total Payment Volume, or TPV, by 6% YoY in Q4, to nearly $4B.Q4 On-Grab Volume — consisting of transactions inside Grab's platform like using GrabPay to pay for Deliveries and Mobility services — was $2.7B, growing 18% YoY.Q4 Off-Grab Volume — consisting of transactions outside Grab's platform like using GrabPay in an offline restaurant — was $1.3B, declining 14% YoY.The growth in On-Grab Volume and decline in Off-Grab Volume reflect management's focus on driving ecosystem transactions, as the unit economics for Off-Grab transactions were not as attractive:You'll remember going all the way back to September 2022 when we had the Investor Day, we talked about moving away from the off-platform payments business where the transaction margins were not contributing to our path to profitability.That's been ongoing. Off-platform transactions continue to fall. And that means that the margin mix improves for our payments business.(COO Alex Hungate — Grab FY2023 Q3 Earnings Call, emphasis added.)Finally, Q4 Enterprise GMV was $64M, up 40% YoY, due to the growth of Grab's advertising business. This is still a small segment so growth will likely be volatile in the short-to-medium term.That being said, Revenue for the full year was $2.4B, up 65% YoY. This beat management's initial guidance of $2.2B to $2.3B.In Q4, Revenue was $653M, up 30% YoY. This beat analyst estimates by $20M.Great to see Grab outperform expectations.Growth was mainly due to GMV growth across all segments, a change in business model for certain delivery offerings, and the reduction in incentives.Author's AnalysisIf you haven't realized, Revenue grew much faster than GMV, and this is due to the reduction of incentives.As a reminder, Grab's Revenue is equal to the commissions and fees it collects from drivers and merchants, minus any incentives it gives out to these partners and its consumers.As you can see, Grab's Total Incentives as a % of GMV was as high as 13% in Q4 of 2021. This was an effort to defend against competition as well as mitigate consumers and partners from churning during the pandemic.However, as market conditions stabilized, Grab was able to reduce incentives without jeopardizing the company's growth. As of Q4, Incentives as a % of GMV was 7.3%, down from 8.2% last year, which led to robust Revenue growth.Ideally, we want to see this metric continue to decline.Author's AnalysisBelow, you can see strong Revenue growth for each of Grab's segments, driven by platform monetization and incentive reduction.Q4 Deliveries Revenue was $321M, up 20% YoY.Q4 Mobility Revenue was $237M, up 26% YoY.Q4 Financial Services Revenue was $56M, up 102% YoY.Q4 Enterprise Revenue was $39M, up 124% YoY.Author's AnalysisOf particular note, the Financial Services and Enterprise segments grew triple-digits YoY. I believe these smaller segments could be major contributors to growth in the coming years as Grab continues to monetize its user base.For instance, Grab is ramping up investments in its Financial Services segment.In October 2023, KakaoBank (South Korea's leading digital bank) invested a 10% stake in Grab's Superbank in Indonesia.In November 2023, Grab also launched GXBank in Malaysia, the first digital bank ever in the country.Additionally, Grab is growing its lending business rapidly, with total loans disbursed increasing 57% YoY to $1.5B in 2023.Grab FY2023 Q4 Investor PresentationIn addition, Grab's Enterprise segment — which consists primarily of advertising — is still in its early innings. The segment is quickly gaining traction with self-serve active advertisers increasing 54% YoY and average spend by active advertisers growing 129% YoY.All in all, Grab is showing strong growth as it recovers from the economic shock left by the pandemic.All its segments are generating record-high GMV (and TPV), and I don't see any signs of slowing down given Grab's durable competitive moats.What's more, platform monetization and incentive optimization are improving, which should lead to robust Revenue and earnings growth moving forward.ProfitabilityIn this section, I will analyze Grab's profit margins by using GMV as the denominator (instead of Revenue). This way, we can see how margins are trending without the volatility of Revenue since Revenue is largely affected by total incentives paid.That said, Q4 Gross Profit was $276M, which was 5.1% of GMV. As you can see, Grab was Gross-Profit-negative a couple of years ago due to the company pumping massive amounts of incentives to consumers and partners. However, Gross Profit has turned positive as the company focuses on profitable growth.Author's AnalysisOn the other hand, Operating Profit is still negative at $(46)M in Q4, which was (0.8)% of GMV. On the bright side, Grab is showing strong operating leverage and a clear path towards profitability — Operating Margin improved by 430 basis points YoY and 90 basis points QoQ, which means that Operating Profit is on track to turn positive as early as Q1 this year.Author's AnalysisIn terms of the bottom line, Grab turned profitable on a Net Income basis for the first time ever. In Q4, Net Income was $11M, which was 0.2% as a % of GMV. Net Income was better than Operating Profit due to improvement in fair value changes in investments as well as higher net interest income.Author's AnalysisIncreases in Adjusted EBITDA also contributed to income growth.As you can see, Total Segment Adjusted EBITDA has been increasing with each passing quarter with $228M in Q4, which is 4.2% of GMV, up 200 basis points YoY.Subtracting Regional Corporate Costs, we get Adjusted EBITDA, which has been improving as well. In Q4, Adjusted EBITDA was $35M, which is the eight consecutive quarter of improvement. This represents 0.6% of GMV, up 280 basis points YoY, due to lower Regional Corporate Costs as the company began layoffs in June last year.Author's AnalysisLooking at Segment Adjusted EBITDA, we can see the profitability of each segment:Q4 Deliveries Adjusted EBITDA: $96M, or 3.8% of GMV. Margins continue to improve due to incentive optimization, operating leverage, and GMV growth. Moving forward, management expects Adjusted EBITDA Margin to expand by another 100 to 200 basis points.Q4 Mobility Adjusted EBITDA: $182M, or 12.3% of GMV. Margins were down 90 basis points YoY and 50 basis points QoQ. Nevertheless, notice how much more profitable the Mobility Segment is compared to Deliveries. This is because of less competition in the Mobility space since Grab is virtually a monopoly in the Mobility segment — less competition means higher pricing power, which leads to higher margins.Q4 Financial Services Adjusted EBITDA: $(81)M, or (2.0)% of TPV. This segment is the only unprofitable segment as management continues to invest in the fintech market. Of important note, Adjusted EBITDA dropped QoQ due to the launch of GXBank in Malaysia.Q4 Enterprise Adjusted EBITDA: $31M, or 49.1% of GMV. Adjusted EBITDA Margin expanded by about 35 percentage points YoY and 8 percentage points QoQ, showing strong operating leverage mainly due to the ramp in Revenue. The Enterprise segment could be a major cash cow in the future, given its strong growth and profitability profile.Author's AnalysisAs you know, Grab has been operating at massive losses in the first decade of its existence, due to heavy investments to acquire users, launch new products, and expand geographically.But recently, the company has just turned Net Income profitable as the company focused on optimizing incentives, improving its cost structure, and scaling Revenue.As we've seen, Grab's profitability metrics are all trending in the right direction, showing strong economies of scale over the last few quarters.This will not only make the company self-sufficient but also strengthen its cost advantage and efficient scale moats, leading to an even stronger competitive positioning.All things considered, this is just the beginning of Grab's profitability journey.HealthAlong with improving profitability, Grab also has a fortress balance sheet.As of Q4, Grab has a Net Cash position of about $4.3B, which is over 30% of its current Market Cap of $12.4B. Net Cash has been on a downfall, but that's understandable given that the company is still in investment mode. However, Net Cash balance should grow over the next few quarters as Grab continues to improve profitability.Management also plans to repay their Term Loan B debt facility, which is expected to reduce annual interest expenses by $50M, further improving profitability and cash flows.Author's AnalysisIn terms of cash flow, Grab is still cash flow negative on an annual basis.In 2023, Free Cash Flow was $(54)M, a major improvement from $(932)M in 2022. However, this includes $184M of Loans Receivables and $364M of Customer Deposits — adjusting for this, Adjusted FCF was $(234)M in 2023, still a decent improvement from $(825)M in 2022. This was mainly driven by higher Cash Flow from Operations, which turned positive in 2023 — great to see but still a lot of work to do.Grab FY2023 Q4 Investor PresentationNevertheless, in light of Grab's improving profitability and strong balance sheet, Grab announced a $500M share buyback program, which reflects not only management's confidence about the financial health of the company but also how attractive the valuation of the company is at current prices.OutlookTurning to the outlook, management provided the following guidance:2024 Revenue of $2.725B at the midpoint, implying a 15.5% growth YoY. This is a steep deceleration from 2023's growth of 65% YoY and this fell short of analyst estimates of $2.82B, which are two big reasons why the stock sold off following Q4 earnings.2024 Group Adjusted EBITDA of $190M at the midpoint, which is a significant improvement from last year's figure of $(22)M.Grab FY2023 Q4 Investor PresentationThe CFO also gave out more details about their outlook:Q1 On-Demand GMV is expected to be stable QoQ. As a reference, Q4 On-Demand GMV was $4.1B, so if Q1 saw the same level of GMV as Q4, it implies a 16% YoY growth in On-Demand GMV in Q1. Moving forward, management expects \"to see a sequential rebound of GMV in the second quarter and continued growth during the year\". In other words, expect strong On-Demand GMV growth throughout 2024.Management expects Mobility margins to remain stable at \"around 12% plus\" and Deliveries margins to be \"3% plus through 2024\". In other words, expect little to no improvements in On-Demand margins in 2024. However, they expect Deliveries margins to expand 100 to 200 basis points beyond 2024 as the company rolls out new product features that drive operating leverage and platform monetization.For the Financial Services segment, management expects \"losses to sequentially narrow heading into 2024\". Put simply, expect Financial Services margins to improve moving forward.Next, expect 2024 Adjusted FCF to \"improve substantially\" YoY as the company continues to drive operating leverage.Beyond 2024, management also expects Revenue growth to accelerate as the company scales new products and services such as GrabUnlimited, GXBank, and Family Accounts.In short, growth is expected to remain robust as Grab pulls multiple growth levers across its four segments. In addition, profitability is only going to get better from here which should accelerate earnings growth in the coming years.Whatever it is, Grab — although more than a decade old — is still in its early stages of growth, due to the undergoing digital transformation in Southeast Asia.According to the e-Conomy SEA 2023 report, food delivery GMV and mobility GMV in Southeast Asia are expected to grow at a 12% and 18% CAGR, respectively, from 2023 to 2025. In addition, digital advertising GMV is set to expand by 15% through 2025.But the most exciting growth opportunity for Grab lies in the fintech sector. According to the report, digital financial services adoption in Southeast Asia is deemed irreversible. As you know, Grab offers digital payments, lending, and insurance services currently, and these subsectors are expected to take off in the next few years as you can see below.e-Conomy SEA 2023Given the underbanked and unbanked majority in Southeast Asia, I believe Grab's Financial Services has a long growth runway ahead. Scaling its financial products should be seamless as Grab can distribute them through its superapp — Grab has the luxury to rapidly cross-sell its products by tapping its massive scale and network.For these reasons, I believe the full potential of Grab's digital Financial Services segment has yet to be realized.That being said, Grab has a massive growth runway ahead as the regional leader in deliveries, mobility, and financial services — the growth of the digital economy in Southeast Asia will be a massive tailwind for the superapp.e-Conomy SEA 2023ValuationValuing Grab is quite a challenge since the company just turned profitable and that management has not issued long-term financial targets.That said, Grab currently trades at an EV to Revenue multiple of just 3.5x, which is quite cheap relative to its peak multiple of 32x and average multiple of 7.5x.Data by YChartsGiven the complexity and uniqueness of Grab's business model, there's no direct competitor that we can compare with. Still, it's interesting to see Grab trading cheaper than its US peers Uber (4.4x) and DoorDash (5.6x) — perhaps, US stocks get a premium over Asian stocks.On the other side, Grab is trading more expensively than fellow Southeast Asian conglomerate Sea Limited (SE), which is trading at 2.4x. And just for fun, I've thrown in PayPal (PYPL) as well, which trades at 2.2x.In my opinion, Grab should be trading at higher valuations compared to its peer group considering that Grab is essentially Uber, DoorDash, and PayPal mashed together.Data by YChartsPerforming a discounted cash flow (\"DCF\") analysis on Grab is quite a redundant exercise, but I'm going to attempt it anyway — using very conservative assumptions, of course.I will be using Adjusted EBITDA as a proxy for Cash Flow from Operations, and then subtract Capital Expenditures and Income Tax to arrive at a figure close to the company's Adjusted FCF.That said, here are my key assumptions:GMV growth of 10% in the first five years and 8% in the last five years. I believe these are lowball estimates given Grab's leadership position and the growth of the digital economy in Southeast Asia.Adjusted EBITDA Margin as a % of GMV improving to 7% by 2033. Again, quite conservative given that:Deliveries margin is 3.6% in Q4 — and is still expanding.Mobility margin is 12.3% in Q4 — and has remained stable for two years.Financial Services margin, while still negative at (2.0)% of TPV, could surpass Deliveries and Mobility margins. For context, Sea Limited's SeaMoney has a high Adjusted EBITDA Margin as a % of Revenue of 31% in Q4.Enterprise margin is already as high as 49.1% in Q4, which could drive meaningful margin expansion for the overall company.Income Tax is set at a constant rate of 15% of Adjusted EBITDA.Capital Expenditures were 0.7% of GMV in the last two years so I will set it at 0.7% for all the years.Author's AnalysisBased on the assumptions above, I project a GMV of nearly $50B by 2033 at a Cash Flow Margin of about 5.3% of GMV.Author's AnalysisBased on a perpetual growth rate of 2.5% and a discount rate of 10%, I arrive at an intrinsic value per share of $6.47 for Grab stock, which represents an upside of more than 100% at its current price of $3.17.As a reference, analysts have an average price target of $4.64 for Grab stock with a street high of $7.00. As of this writing, there are 21 Strong Buy and 6 Buy recommendations, with ZERO Sell ratings.Seeking AlphaI've also included my bear and bull cases below.Author's AnalysisInstitutions have also been piling on Grab stock, which could lift the stock higher.FintelTo summarize, I believe Grab stock is significantly undervalued.RisksWhile Grab has established itself as Southeast Asia's most dominant on-demand services company, competition remains its biggest risk.This includes GoJek, InDrive, and Bolt in the mobility space. Other international players may also enter Southeast Asia, including India's Ola Cabs and China's Didi Global.In the deliveries segment, Grab faces competition from GoJek, ShopeeFood, Foodpanda, Deliveroo, Line Man Wongnai, and more. Other large delivery companies may also enter Southeast Asia, including San Francisco's DoorDash and India's Zomato.In the fintech space, Grab is already dealing with strong opposition, including GoPay, ShopeePay, Dana, Google Pay, and so on.All this competition may lead to a price war, forcing Grab to deploy more incentives to maintain market share. In addition, the services that Grab offers have the risk of being commoditized, which could mean lower profit margins and cash flows for the company.However, I believe competition is more of a temporary issue than a permanent one. In my view, competition is unlikely to have the capital resources to compete with Grab on price. They may be able to undercut Grab for a while, but as I've discussed earlier, they are incapable of doing so for a long period of time given Grab's cost advantage, network effects, and efficient scale moats. Not to forget, Grab has $4.3B of Net Cash at its disposal.I think it's foolish to undercut Grab — it's like digging your own graves.Other risks include regulations that could increase compliance costs as well as gig worker unions which could lead to lower commission rates for Grab.ThesisIn a nutshell, Grab is the baddest superapp in Southeast Asia — its strong brand, high switching costs, powerful network effects, low-cost advantage, and efficient scale moats solidify its status as the undisputed king in the region.As the company turns profitable and focuses on profitable growth, Grab is in a prime position to capitalize on the growing digital economy in Southeast Asia.Despite being a fundamentally stronger company today than it has ever been, Grab stock is still down 80%+ from its all-time highs. Moreover, Grab stock has been trading sideways for almost two years — it's essentially in hibernation.With business momentum back in full force and with fundamentals improving with each passing quarter, it won't be long before the sleeping giant awakens.With all this in mind, I have started a position in Grab stock.","news_type":1},"isVote":1,"tweetType":1,"viewCount":173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":286297604194440,"gmtCreate":1710931576288,"gmtModify":1710931578248,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share 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href=\"https://ttm.financial/S/BN4.SI\">$Keppel(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Keppel good new coming up. More project with CAG.","listText":"<a href=\"https://ttm.financial/S/BN4.SI\">$Keppel(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Keppel good new coming up. More project with CAG.","text":"$Keppel(BN4.SI)$ Keppel good new coming up. More project with CAG.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/284135708741848","isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":284134524448920,"gmtCreate":1710384805645,"gmtModify":1710384807604,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"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/284134524448920","repostId":"283885519347712","repostType":1,"repost":{"id":283885519347712,"gmtCreate":1710324112250,"gmtModify":1710328801947,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/c266ef25181ace18bec1262357bbe1a8","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667667103859","authorIdStr":"3527667667103859"},"themes":[],"title":"[Events] Share Your Most Profitable Holdings & Win Tiger Coins","htmlText":"Hi Tigers,The bull market seems to expand in recent weeks. Chipmaker <a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$</a> rose more than 7% on Tuesday, erasing nearly all of losses in previous 2 trading days and bringing the year to date gain to about 86%.In addition to NVIDIA, <a href=\"https://ttm.financial/S/SMCI\">$SUPER MICRO COMPUTER INC(SMCI)$</a> has benefited from AI and NVIDIA, surging nearly 309% since the beginning of the year; <a href=\"https://ttm.financial/S/AMD\">$Advanced Micro Devices(AMD)$</a> closely follows NVIDIA, with a gain of almost 37% over the year.Did you make profit or not？Let’s share your most profitable stock holdings.💡How to participate？Leave a message in the comments section of this post, and share your most profitable stock holdingsHow to share posit","listText":"Hi Tigers,The bull market seems to expand in recent weeks. Chipmaker <a href=\"https://ttm.financial/S/NVDA\">$NVIDIA Corp(NVDA)$</a> rose more than 7% on Tuesday, erasing nearly all of losses in previous 2 trading days and bringing the year to date gain to about 86%.In addition to NVIDIA, <a href=\"https://ttm.financial/S/SMCI\">$SUPER MICRO COMPUTER INC(SMCI)$</a> has benefited from AI and NVIDIA, surging nearly 309% since the beginning of the year; <a href=\"https://ttm.financial/S/AMD\">$Advanced Micro Devices(AMD)$</a> closely follows NVIDIA, with a gain of almost 37% over the year.Did you make profit or not？Let’s share your most profitable stock holdings.💡How to participate？Leave a message in the comments section of this post, and share your most profitable stock holdingsHow to share posit","text":"Hi Tigers,The bull market seems to expand in recent weeks. Chipmaker $NVIDIA Corp(NVDA)$ rose more than 7% on Tuesday, erasing nearly all of losses in previous 2 trading days and bringing the year to date gain to about 86%.In addition to NVIDIA, $SUPER MICRO COMPUTER INC(SMCI)$ has benefited from AI and NVIDIA, surging nearly 309% since the beginning of the year; $Advanced Micro Devices(AMD)$ closely follows NVIDIA, with a gain of almost 37% over the year.Did you make profit or not？Let’s share your most profitable stock holdings.💡How to participate？Leave a message in the comments section of this post, and share your most profitable stock holdingsHow to share posit","images":[{"img":"https://community-static.tradeup.com/news/5fd1886ff8ece379632a59f73863ec86","width":"2462","height":"1484"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/283885519347712","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":142,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":284132099694688,"gmtCreate":1710384115531,"gmtModify":1710384119570,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3578819471059082","authorIdStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/O39.SI\">$ocbc bank(O39.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Moomoo&nbsp;","listText":"<a href=\"https://ttm.financial/S/O39.SI\">$ocbc bank(O39.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Moomoo&nbsp;","text":"$ocbc bank(O39.SI)$ Moomoo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/284132099694688","isVote":1,"tweetType":1,"viewCount":19,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":284171736551640,"gmtCreate":1710393871308,"gmtModify":1710393874701,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/BN4.SI\">$Keppel(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> non stop soaring&nbsp;","listText":"<a href=\"https://ttm.financial/S/BN4.SI\">$Keppel(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> non stop soaring&nbsp;","text":"$Keppel(BN4.SI)$ non stop soaring","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/284171736551640","isVote":1,"tweetType":1,"viewCount":320,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":284135708741848,"gmtCreate":1710385075456,"gmtModify":1710385079087,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/BN4.SI\">$Keppel(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Keppel good new coming up. More project with CAG.","listText":"<a href=\"https://ttm.financial/S/BN4.SI\">$Keppel(BN4.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Keppel good new coming up. More project with CAG.","text":"$Keppel(BN4.SI)$ Keppel good new coming up. More project with CAG.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/284135708741848","isVote":1,"tweetType":1,"viewCount":187,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":283682128654440,"gmtCreate":1710297307890,"gmtModify":1710297313085,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"//<a href=\"https://ttm.financial/U/3582922989777578\">@SPOT_ON</a>:BUY SUPER UNDERVALUED BLUE CHIP CDL NOW !! <a href=\"https://ttm.financial/S/03690\">$MEITUAN-W(03690)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/META\">$Meta Platforms, Inc.(META)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/JD\">$JD.com(JD)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/AIY.SI\">$IFAST(AIY.SI)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$&nbsp;</a>&nbsp;","listText":"//<a href=\"https://ttm.financial/U/3582922989777578\">@SPOT_ON</a>:BUY SUPER UNDERVALUED BLUE CHIP CDL NOW !! <a href=\"https://ttm.financial/S/03690\">$MEITUAN-W(03690)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/META\">$Meta Platforms, Inc.(META)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/JD\">$JD.com(JD)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/AIY.SI\">$IFAST(AIY.SI)$&nbsp;</a>&nbsp; <a href=\"https://ttm.financial/S/O39.SI\">$OVERSEA-CHINESE BANKING CORP(O39.SI)$&nbsp;</a>&nbsp;","text":"//@SPOT_ON:BUY SUPER UNDERVALUED BLUE CHIP CDL NOW !! $MEITUAN-W(03690)$ $Meta Platforms, Inc.(META)$ $JD.com(JD)$ $IFAST(AIY.SI)$ $OVERSEA-CHINESE BANKING CORP(O39.SI)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/283682128654440","repostId":"282991765348664","repostType":1,"repost":{"id":282991765348664,"gmtCreate":1710118399559,"gmtModify":1710133801881,"author":{"id":"3582922989777578","authorId":"3582922989777578","name":"SPOT_ON","avatar":"https://static.tigerbbs.com/080f029371339d9db26930961de6adb1","crmLevel":4,"crmLevelSwitch":1,"followedFlag":false,"authorIdStr":"3582922989777578","idStr":"3582922989777578"},"themes":[],"title":"CITY DEVELOPMENT LIMITED MASSIVE SHARES BUY BACK ! RNAV : $19.46 ","htmlText":"<a href=\"https://ttm.financial/S/C09.SI\">$CityDev(C09.SI)$ </a>&nbsp; CITY : C09 0% Developments Ltd (CDL) : C09 0% initiated share buybacks for its ordinary shares on the open market on Friday (Mar 8), citing its discounted share value as a reason. The property developer picked up 954,000 ordinary shares, or 0.11 per cent of its issued share capital, at an average price of S$5.75 a share for a total consideration of S$5.5 million. The lowest price that CDL paid on the market was S$5.69, while the most that it forked out was S$5.78. The average share price marked a discount of 43 per cent to the net asset value (NAV) of S$10.12 a share, and a discount of 70 per cent to revalued NAV per share of S$19.461 as at Dec 31, 2023, CDL noted in an after-market announcement on SGX","listText":"<a href=\"https://ttm.financial/S/C09.SI\">$CityDev(C09.SI)$ </a>&nbsp; CITY : C09 0% Developments Ltd (CDL) : C09 0% initiated share buybacks for its ordinary shares on the open market on Friday (Mar 8), citing its discounted share value as a reason. The property developer picked up 954,000 ordinary shares, or 0.11 per cent of its issued share capital, at an average price of S$5.75 a share for a total consideration of S$5.5 million. The lowest price that CDL paid on the market was S$5.69, while the most that it forked out was S$5.78. The average share price marked a discount of 43 per cent to the net asset value (NAV) of S$10.12 a share, and a discount of 70 per cent to revalued NAV per share of S$19.461 as at Dec 31, 2023, CDL noted in an after-market announcement on SGX","text":"$CityDev(C09.SI)$ CITY : C09 0% Developments Ltd (CDL) : C09 0% initiated share buybacks for its ordinary shares on the open market on Friday (Mar 8), citing its discounted share value as a reason. The property developer picked up 954,000 ordinary shares, or 0.11 per cent of its issued share capital, at an average price of S$5.75 a share for a total consideration of S$5.5 million. The lowest price that CDL paid on the market was S$5.69, while the most that it forked out was S$5.78. The average share price marked a discount of 43 per cent to the net asset value (NAV) of S$10.12 a share, and a discount of 70 per cent to revalued NAV per share of S$19.461 as at Dec 31, 2023, CDL noted in an after-market announcement on SGX","images":[{"img":"https://community-static.tradeup.com/news/2698a15414121240cbb9e427e90b7fbc","width":"1080","height":"1582"}],"top":1,"highlighted":2,"essential":1,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/282991765348664","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":225,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":805698753,"gmtCreate":1627873984672,"gmtModify":1703496964302,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Buy buy buy, up up up","listText":"Buy buy buy, up up up","text":"Buy buy buy, up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":10,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/805698753","repostId":"1170689665","repostType":4,"repost":{"id":"1170689665","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1627857540,"share":"https://ttm.financial/m/news/1170689665?lang=&edition=fundamental","pubTime":"2021-08-02 06:39","market":"us","language":"en","title":"Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week","url":"https://stock-news.laohu8.com/highlight/detail?id=1170689665","media":"Tiger Newspress","summary":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Dig","content":"<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p>\n<p>Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p>\n<p><img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p>\n<p>The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p>\n<p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p>\n<p><b>Monday 8/2</b></p>\n<p>CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p>\n<p>GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p>\n<p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p>\n<p><b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p>\n<p><b>Tuesday 8/3</b></p>\n<p>Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p>\n<p><b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p>\n<p><b>Wednesday 8/4</b></p>\n<p>Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p>\n<p><b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p>\n<p><b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p>\n<p><b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p>\n<p><b>Thursday 8/5</b></p>\n<p>Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p>\n<p>Friday 8/6</p>\n<p><b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p>\n<p>DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</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>Alibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, 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\">\nAlibaba,Uber, DraftKings, GM, Roku, EA, ViacomCBS, and Other Stocks for Investors to Watch This Week\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-08-02 06:39</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The parade of second-quarter results continues this week. No fewer than 143 S&amp;P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.</p>\n<p>Wednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and&nbsp;ViacomCBS&nbsp;go on Thursday and&nbsp;DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation&nbsp;New Oriental Education &amp; Technology Group Inc. and&nbsp;TAL Education Group&nbsp;cancels scheduled earnings release and earnings call.</p>\n<p><img src=\"https://static.tigerbbs.com/94057bf11ca8d7311db6c075ba98727b\" tg-width=\"1706\" tg-height=\"740\" referrerpolicy=\"no-referrer\"></p>\n<p>The highlight on the&nbsp;economic&nbsp;calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.</p>\n<p>Other data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.</p>\n<p><b>Monday 8/2</b></p>\n<p>CNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett &amp; Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.</p>\n<p>GE stock&nbsp;will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.</p>\n<p><b>The Institute for Supply</b>&nbsp;Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.</p>\n<p><b>The Census Bureau</b>&nbsp;reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.</p>\n<p><b>Tuesday 8/3</b></p>\n<p>Eaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun &amp; Bradstreet Holdings,ConocoPhillips, and&nbsp;Jacobs Engineering Grouphost conference calls to discuss financial results.</p>\n<p><b>The Census Bureau</b>&nbsp;is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.</p>\n<p><b>Wednesday 8/4</b></p>\n<p>Sony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.</p>\n<p><b>The Bureau of Economic</b>&nbsp;Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.</p>\n<p><b>The ISM releases</b>&nbsp;its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.</p>\n<p><b>ADP releases</b>&nbsp;its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.</p>\n<p><b>Thursday 8/5</b></p>\n<p>Zillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman &amp; Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and&nbsp;Siemensare expected to report financial results.</p>\n<p>Friday 8/6</p>\n<p><b>The BLS releases the jobs report</b>&nbsp;for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.</p>\n<p>DraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ROKU":"Roku Inc","BABA":"阿里巴巴","GM":"通用汽车","EA":"艺电",".IXIC":"NASDAQ Composite","DKNG":"DraftKings Inc.",".SPX":"S&P 500 Index","GE":"GE航空航天","UBER":"优步",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1170689665","content_text":"The parade of second-quarter results continues this week. No fewer than 143 S&P 500 companies are on deck to report, in addition to hundreds of small caps. Ferrari, Vornado Realty Trust, Take-Two Interactive Software, and Simon Property Group will get the ball rolling on Monday. Then Lyft, Alibaba Group Holding, Nikola, Under Armour, Eli Lilly, and ConocoPhillips release their results on Tuesday.\nWednesday will be particularly busy:General Motors,Uber Technologies,Etsy,Electronic Arts,Western Digital,Roku,CVS Health,Kraft Heinz, and SoftBank all report.Beyond Meat,Yelp,Wayfair, Moderna, and ViacomCBS go on Thursday and DraftKings,Canopy Growth,and Tripadvisor will close the week on Friday.Chinese Education Corporation New Oriental Education & Technology Group Inc. and TAL Education Group cancels scheduled earnings release and earnings call.\n\nThe highlight on the economic calendar this week will be Jobs Friday. The Bureau of Labor Statistics is expected to show a gain of 625,000 nonfarm payrolls in July, following June’s 850,000. The unemployment rate is seen holding just below 6%.\nOther data out this week include the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for July on Monday, followed by the Services equivalent on Wednesday. Both measures of economic activity are forecast to come in at around 61, which would signify strong expansion.\nMonday 8/2\nCNA Financial,Global Payments,JELD-WEN Holding,Loews,Arista Networks,Leggett & Platt,Vornado Realty Trust, ZoomInfo Technologies, Woodward, Take-Two Interactive Software, Heineken, Trex, Ferrari,Ultra Clean Holdings,and Simon Property Group are expected to release financial results.\nGE stock will open for trading Monday at about $104 a share, after closing Friday at $12.95. The company completed its 1-for-8 reverse stock split Friday evening.\nThe Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for July. Consensus estimate is for a 60.8 reading, up from 60.6 in June.\nThe Census Bureau reports construction spending for June. Expectations are for a 0.4% month-over-month rise, after a 0.3% decline in May.\nTuesday 8/3\nEaton, BP, Under Armour, Lyft,Clorox,Amgen,Akamai Technologies,Cummins, Eli Lilly, Alibaba Group Holding, Nikola, EnPro Industries,Warner Music Group,Pitney Bowes,Tennant,Phillips 66,KKR,Gartner,Henry Schein,Dun & Bradstreet Holdings,ConocoPhillips, and Jacobs Engineering Grouphost conference calls to discuss financial results.\nThe Census Bureau is slated to report factory orders for June. Economists predict that orders increased 1.0% during the month, compared with a 1.7% rise in May.\nWednesday 8/4\nSony Group,CVS Health, Kraft Heinz, SoftBank, General Motors, Progressive, Etsy, Electronic Arts, Western Digital, Uber Technologies, Roku,MGM Resorts International,Fox, and Re/Max Holdings are expected to host earnings calls.\nThe Bureau of Economic Analysis reports light-vehicle sales for July. Expectations call for a seasonally adjusted annual rate of 15.3 million vehicles, versus 15.4 million in June.\nThe ISM releases its Services PMI for July. Consensus estimate is for a 60.8 reading, compared with June’s 60.1.\nADP releases its National Employment report for July. Consensus estimate is for a 635,000 gain in nonfarm private-sector employment, following an increase of 692,000 in June.\nThursday 8/5\nZillow Group,Beyond Meat, Yelp, Wayfair, Kellogg,Bayer,HanesBrands, Moderna,Regeneron Pharmaceuticals,Switch,Cushman & Wakefield,ViacomCBS,Cigna,Duke Energy,Square,News Corp,and Siemensare expected to report financial results.\nFriday 8/6\nThe BLS releases the jobs report for July. Economists forecast a 800,000 rise in nonfarm payrolls, after an 850,000 gain in June. The unemployment rate is expected to edge down to 5.8% from 5.9%.\nDraftKings,Dominion Energy,Gannett,MGM Growth Properties,AMC Networks,Canopy Growth, Tripadvisor,Spectrum Brands Holdings,E.W. Scripps,Cinemark Holdings, and Manitowoc host conference calls to discuss financial results.","news_type":1},"isVote":1,"tweetType":1,"viewCount":108,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343587055,"gmtCreate":1617725302677,"gmtModify":1704702375714,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/C6L.SI\">$SINGAPORE AIRLINES LTD(C6L.SI)$</a>Fly high soon!","listText":"<a href=\"https://laohu8.com/S/C6L.SI\">$SINGAPORE AIRLINES LTD(C6L.SI)$</a>Fly high soon!","text":"$SINGAPORE AIRLINES LTD(C6L.SI)$Fly high soon!","images":[{"img":"https://static.tigerbbs.com/c56cbd95b9ce97a9d4cb2572740c8d21","width":"1080","height":"1920"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/343587055","isVote":1,"tweetType":1,"viewCount":390,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":346246541,"gmtCreate":1618057093683,"gmtModify":1704706375636,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Why not","listText":"Why not","text":"Why not","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/346246541","repostId":"2126333180","repostType":4,"repost":{"id":"2126333180","pubTimestamp":1617981480,"share":"https://ttm.financial/m/news/2126333180?lang=&edition=fundamental","pubTime":"2021-04-09 23:18","market":"us","language":"en","title":"Is Las Vegas Sands Stock a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=2126333180","media":"Travis Hoium","summary":"This stock may not be an easy bet for investors.","content":"<p>The gambling industry has been completely decimated over the past year as the pandemic has shut down resorts around the world and caused consumers to be more cautious with their entertainment spending. But <b>Las Vegas Sands'</b> (NYSE:LVS) stock hasn't suffered much at all, falling only about 15% from peaks in early 2020, so there seems to be a recovery priced into the stock already.</p><p>Not only has casino revenue fallen over the past year, but online gambling has also become a very real competitor to the real-world casino. And Las Vegas Sands has almost no presence in that growing market. Is Las Vegas Sands now a value stock that will benefit from an economic recovery, or is this a company that the gambling world has passed by? Let's take a deeper look.</p><p><img src=\"https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F620394%2Fmacau-skyline-at-night.jpg&amp;w=700&amp;op=resize\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p><p>Image source: Getty Images.</p><h2>What Las Vegas Sands was</h2><p>The last year doesn't really tell us much about what operations will look like as they open again, so let's start by looking at what revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) -- a proxy for cash flow from a resort -- looked like pre-pandemic.</p><p><img src=\"https://media.ycharts.com/charts/97e580af14bb8b8047116844a20f91f0.png\" tg-width=\"720\" tg-height=\"435\" referrerpolicy=\"no-referrer\"></p><p>LVS Revenue (TTM) data by YCharts</p><p>At the end of 2019, Las Vegas Sands had an enterprise value (equity value plus debt outstanding) of $62.3 billion, or 11.3 times EBITDA. That'll be important to note as we talk about the company's future.</p><h2>The pandemic was a disaster</h2><p>No matter how you look at it, the pandemic has been a disaster for Las Vegas Sands. The company saw revenue drop nearly 75%, and EBITDA went negative.</p><p><img src=\"https://media.ycharts.com/charts/132bb8f99c55348febf8be9b64437e7f.png\" tg-width=\"720\" tg-height=\"435\" referrerpolicy=\"no-referrer\"></p><p>LVS Revenue (TTM) data by YCharts</p><p>While some casino companies have relied on the U.S. market, which hasn't been hit as hard as Asia, Las Vegas Sands was highly reliant on Asia, which has had many more restrictions due to COVID-19. And the company is selling its Las Vegas properties for $6.25 billion, so in the future, it will be 100% reliant on Asia when that deal is closed.</p><p>Relying on Asia can be a double-edged sword for casino operators. The market is extremely big and very profitable when operations are going well, but operators are also at the whim of government regulations and restrictions. Macao has gone through ups and downs depending on how open China's visas are to the region. Singapore pushed through a higher tax rate even after Las Vegas Sands committed to spending $3.3 billion to expand Marina Bay Sands.</p><p>If Macao and Singapore gambling returns to 2019 levels sometime late this year or early next year, it would be great for gambling operations, but there's no guarantee that will happen, and we could see a very slow recovery in some countries where vaccine roll-outs aren't going as fast as they are in the U.S.</p><h2>Missing out on internet gambling</h2><p>One of the bigger mistakes late CEO Sheldon Adelson made was fighting online gambling in the U.S. Las Vegas Sands didn't just fail to invest in the booming business; it actively fought its legalization. That puts the company well behind competitors.</p><p>In 2020, online gambling reached $1.4 billion to $1.5 billion in gross gambling revenue in the U.S, according to H2 Gambling Capital, making up 20% of the market. Revenue is expected to grow rapidly as sports betting and iGaming are expanded across the U.S. with some expecting revenue to more than double. Las Vegas Sands may miss the boat entirely.</p><h2>Is there any value in Las Vegas Sands?</h2><p>At today's stock price, Las Vegas Sands' enterprise value (EV) is $59.9 billion, not much lower than it was at the end of 2019 despite the pandemic.</p><p>Even if we disregard the sale of Las Vegas operations, it'll be very difficult for Las Vegas Sands to return to the 11.3 EV/EBITDA multiple by the end of 2021. If Asian gamblers don't return in droves, the company may not reach 2019 EBITDA levels for years.</p><p>As we've seen, real growth in the gambling industry is in online gambling. What I'm most worried about is that Las Vegas Sands has no presence in that business. That's why Las Vegas Sands stock isn't a buy today, but given the potential for a sharp pandemic recovery in 2021, I wouldn't short the stock either.</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>Is Las Vegas Sands Stock a Buy?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Las Vegas Sands Stock a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 23:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/09/is-las-vegas-sands-stock-a-buy/><strong>Travis Hoium</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The gambling industry has been completely decimated over the past year as the pandemic has shut down resorts around the world and caused consumers to be more cautious with their entertainment spending...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/09/is-las-vegas-sands-stock-a-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LVS":"金沙集团"},"source_url":"https://www.fool.com/investing/2021/04/09/is-las-vegas-sands-stock-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2126333180","content_text":"The gambling industry has been completely decimated over the past year as the pandemic has shut down resorts around the world and caused consumers to be more cautious with their entertainment spending. But Las Vegas Sands' (NYSE:LVS) stock hasn't suffered much at all, falling only about 15% from peaks in early 2020, so there seems to be a recovery priced into the stock already.Not only has casino revenue fallen over the past year, but online gambling has also become a very real competitor to the real-world casino. And Las Vegas Sands has almost no presence in that growing market. Is Las Vegas Sands now a value stock that will benefit from an economic recovery, or is this a company that the gambling world has passed by? Let's take a deeper look.Image source: Getty Images.What Las Vegas Sands wasThe last year doesn't really tell us much about what operations will look like as they open again, so let's start by looking at what revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) -- a proxy for cash flow from a resort -- looked like pre-pandemic.LVS Revenue (TTM) data by YChartsAt the end of 2019, Las Vegas Sands had an enterprise value (equity value plus debt outstanding) of $62.3 billion, or 11.3 times EBITDA. That'll be important to note as we talk about the company's future.The pandemic was a disasterNo matter how you look at it, the pandemic has been a disaster for Las Vegas Sands. The company saw revenue drop nearly 75%, and EBITDA went negative.LVS Revenue (TTM) data by YChartsWhile some casino companies have relied on the U.S. market, which hasn't been hit as hard as Asia, Las Vegas Sands was highly reliant on Asia, which has had many more restrictions due to COVID-19. And the company is selling its Las Vegas properties for $6.25 billion, so in the future, it will be 100% reliant on Asia when that deal is closed.Relying on Asia can be a double-edged sword for casino operators. The market is extremely big and very profitable when operations are going well, but operators are also at the whim of government regulations and restrictions. Macao has gone through ups and downs depending on how open China's visas are to the region. Singapore pushed through a higher tax rate even after Las Vegas Sands committed to spending $3.3 billion to expand Marina Bay Sands.If Macao and Singapore gambling returns to 2019 levels sometime late this year or early next year, it would be great for gambling operations, but there's no guarantee that will happen, and we could see a very slow recovery in some countries where vaccine roll-outs aren't going as fast as they are in the U.S.Missing out on internet gamblingOne of the bigger mistakes late CEO Sheldon Adelson made was fighting online gambling in the U.S. Las Vegas Sands didn't just fail to invest in the booming business; it actively fought its legalization. That puts the company well behind competitors.In 2020, online gambling reached $1.4 billion to $1.5 billion in gross gambling revenue in the U.S, according to H2 Gambling Capital, making up 20% of the market. Revenue is expected to grow rapidly as sports betting and iGaming are expanded across the U.S. with some expecting revenue to more than double. Las Vegas Sands may miss the boat entirely.Is there any value in Las Vegas Sands?At today's stock price, Las Vegas Sands' enterprise value (EV) is $59.9 billion, not much lower than it was at the end of 2019 despite the pandemic.Even if we disregard the sale of Las Vegas operations, it'll be very difficult for Las Vegas Sands to return to the 11.3 EV/EBITDA multiple by the end of 2021. If Asian gamblers don't return in droves, the company may not reach 2019 EBITDA levels for years.As we've seen, real growth in the gambling industry is in online gambling. What I'm most worried about is that Las Vegas Sands has no presence in that business. That's why Las Vegas Sands stock isn't a buy today, but given the potential for a sharp pandemic recovery in 2021, I wouldn't short the stock either.","news_type":1},"isVote":1,"tweetType":1,"viewCount":104,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":345232604,"gmtCreate":1618317051208,"gmtModify":1704709028628,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Hmm..&nbsp;","listText":"Hmm..&nbsp;","text":"Hmm..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/345232604","repostId":"1179268763","repostType":4,"repost":{"id":"1179268763","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1618315607,"share":"https://ttm.financial/m/news/1179268763?lang=&edition=fundamental","pubTime":"2021-04-13 20:06","market":"us","language":"en","title":"Toplines Before US Market Open on Tuesday","url":"https://stock-news.laohu8.com/highlight/detail?id=1179268763","media":"Tiger Newspress","summary":"Stock futures drop after US officials call for pause of J&J vaccine rollout. In addition, markets lo","content":"<ul><li>Stock futures drop after US officials call for pause of J&amp;J vaccine rollout.&nbsp;</li><li>In&nbsp;addition,&nbsp;markets look to key U.S. inflation data.</li><li>The benchmark 10-year Treasury yield inched closer to 1.7%.</li><li>Bitcoin set new record, trading above $63,000.</li><li>Altimeter Growth, Johnson &amp; Johnson, FedEx &amp; more making the biggest moves in the premarket</li></ul><p>(April 13)&nbsp;Stock futures sank Tuesday morning after U.S. federal health officials called for a pause in the rollout of Johnson &amp; Johnson's (JNJ) COVID-19 vaccine amid concerns over rare blood clots in some individuals who received the inoculation.</p><p>At 8:05 a.m. ET, Dow E-minis were down 110 points, or 0.33%, S&amp;P 500 E-minis were down 10.5 points, or 0.25% and Nasdaq 100 E-minis were down 6.5&nbsp;points, or 0.05%.</p><p><img src=\"https://static.tigerbbs.com/fec9ca3c4d5c22a6aabf5a7bd8286a08\" tg-width=\"1242\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>The benchmark 10-year Treasury yield inched closer to 1.7% before the Labor Department’s data that is expected to show U.S. consumer prices rose 0.5% in March from 0.4% in February. The report is due at 8:30 a.m. ET (1230 GMT).</p><p>Among stocks, U.S.-listed shares of e-commerce firm JD.com and search giant Baidu fell about 2% each in premarket trading as China’s market regulator warned internet companies to stop using any banned practices.</p><p><img src=\"https://static.tigerbbs.com/57e53e80a4150ceca7c4290b9a0e14ce\" tg-width=\"282\" tg-height=\"80\" referrerpolicy=\"no-referrer\"></p><p>Cryptocurrency and blockchain-related firms including Riot Blockchain and Marathon Digital Holdings jumped 9% and 8% as bitcoin prices soared 4.5%, a day ahead of listing of Coinbase, the largest U.S. cryptocurrency exchange.</p><p><img src=\"https://static.tigerbbs.com/759502388fc3c70949384c724fa01051\" tg-width=\"292\" tg-height=\"355\" referrerpolicy=\"no-referrer\"></p><p><b>Stocks making the biggest moves in the premarket: Altimeter Growth, Johnson &amp; Johnson, FedEx &amp; more:</b></p><p><b>1)&nbsp;Altimeter Growth(AGC) </b>— Southeast Asia's ride-hailing giant Grab isgoing public via a SPAC mergerwith Altimeter Growth, valued at nearly $40 billion. Grab says it intends to list on the Nasdaq under ticker symbol \"GRAB\" following the deal's completion. Altimeter's shares surged nearly 9% in premarket trading.</p><p><b>2)&nbsp;Johnson &amp; Johnson(JNJ) </b>— Shares of the drugmaker fell 2.8% in the premarket after the Food and Drug Administrationsaid it is asking states to pauseadministering J&amp;J's Covid-19 vaccine after six people in the U.S. developed a rare disorder involving blood clots. The FDA said the recommendation is \"out of an abundance of caution.\"Modernashares popped more than 7% in early trading on the news.</p><p><b>3)&nbsp;FedEx(FDX)</b> — Shares of the shipping company rose in premarket trading about KeyBanc Capital Markets upgraded FedEx to \"overweight.\" The Wall Street firm also set a $350 per share price target on FedEx. KeyBanc said FedEx can still grow volume even with the return to in-person shopping.</p><p><b>4)&nbsp;JetBlue(JBLU),Spirit Airlines(SAVE)</b> — Shares of the airlines popped in premarket trading after Susquehanna Financial Group upgraded JetBlue and Spirit Airlines to “positive.” “With a recovery in U.S. domestic air travel underway, we want to own the low-cost carriers,” the firm’s analyst told clients.</p><p><b>5)&nbsp;Booking Holdings(BKNG) </b>— The travel company gained in premarket trading after Jefferies upgraded Booking to “buy” from “hold” on a rebound in global travel. The first also hiked its 12-month price target to $2,800 per share from $2,300 per share.</p><p><b>6)&nbsp;3M(MMM) </b>— Shares of the manufacturing giant edged lower in the premarket after Deutsche Bank added a “catalyst call” sell on 3M. The Wall Street firm said the stock has curiously outperformed in recent weeks despite Deutsche Bank’s expectation for a miss on upcoming earnings.</p><p><b>7)&nbsp;NortonLifeLock(NLOK)</b> — The security company dipped in premarket trading after Bank of America initiated the stock with an “underperform” rating and a $19 per share price target. “Last year’s COVID-related spike in demand may unwind in the next few quarters and the company may return to negative trends in churn and subscriber additions, negatively impacting the revenue growth,” the firm said.</p><p><b>8)&nbsp;Honeywell(HON)</b> — Shares of Honeywell rose in premarket trade after Deutsche Bank put a catalyst call “buy” rating on the stock. The firm said investors are unenthusiastic about Honeywell, despite a recovery taking hold.</p><p><b>9)&nbsp;Bristol-Myers Squibb(BMY) </b>— Shares of the pharmaceutical company rose in the premarket about Truist upgraded Bristol-Myers Squibb to “buy” from “hold” with a $74 per share price target. The Wall Street firm said it likes Bristol-Myers Squibb’s drug pipeline.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Toplines Before US Market Open on Tuesday</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nToplines Before US Market Open on Tuesday\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-04-13 20:06</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<ul><li>Stock futures drop after US officials call for pause of J&amp;J vaccine rollout.&nbsp;</li><li>In&nbsp;addition,&nbsp;markets look to key U.S. inflation data.</li><li>The benchmark 10-year Treasury yield inched closer to 1.7%.</li><li>Bitcoin set new record, trading above $63,000.</li><li>Altimeter Growth, Johnson &amp; Johnson, FedEx &amp; more making the biggest moves in the premarket</li></ul><p>(April 13)&nbsp;Stock futures sank Tuesday morning after U.S. federal health officials called for a pause in the rollout of Johnson &amp; Johnson's (JNJ) COVID-19 vaccine amid concerns over rare blood clots in some individuals who received the inoculation.</p><p>At 8:05 a.m. ET, Dow E-minis were down 110 points, or 0.33%, S&amp;P 500 E-minis were down 10.5 points, or 0.25% and Nasdaq 100 E-minis were down 6.5&nbsp;points, or 0.05%.</p><p><img src=\"https://static.tigerbbs.com/fec9ca3c4d5c22a6aabf5a7bd8286a08\" tg-width=\"1242\" tg-height=\"492\" referrerpolicy=\"no-referrer\"></p><p>The benchmark 10-year Treasury yield inched closer to 1.7% before the Labor Department’s data that is expected to show U.S. consumer prices rose 0.5% in March from 0.4% in February. The report is due at 8:30 a.m. ET (1230 GMT).</p><p>Among stocks, U.S.-listed shares of e-commerce firm JD.com and search giant Baidu fell about 2% each in premarket trading as China’s market regulator warned internet companies to stop using any banned practices.</p><p><img src=\"https://static.tigerbbs.com/57e53e80a4150ceca7c4290b9a0e14ce\" tg-width=\"282\" tg-height=\"80\" referrerpolicy=\"no-referrer\"></p><p>Cryptocurrency and blockchain-related firms including Riot Blockchain and Marathon Digital Holdings jumped 9% and 8% as bitcoin prices soared 4.5%, a day ahead of listing of Coinbase, the largest U.S. cryptocurrency exchange.</p><p><img src=\"https://static.tigerbbs.com/759502388fc3c70949384c724fa01051\" tg-width=\"292\" tg-height=\"355\" referrerpolicy=\"no-referrer\"></p><p><b>Stocks making the biggest moves in the premarket: Altimeter Growth, Johnson &amp; Johnson, FedEx &amp; more:</b></p><p><b>1)&nbsp;Altimeter Growth(AGC) </b>— Southeast Asia's ride-hailing giant Grab isgoing public via a SPAC mergerwith Altimeter Growth, valued at nearly $40 billion. Grab says it intends to list on the Nasdaq under ticker symbol \"GRAB\" following the deal's completion. Altimeter's shares surged nearly 9% in premarket trading.</p><p><b>2)&nbsp;Johnson &amp; Johnson(JNJ) </b>— Shares of the drugmaker fell 2.8% in the premarket after the Food and Drug Administrationsaid it is asking states to pauseadministering J&amp;J's Covid-19 vaccine after six people in the U.S. developed a rare disorder involving blood clots. The FDA said the recommendation is \"out of an abundance of caution.\"Modernashares popped more than 7% in early trading on the news.</p><p><b>3)&nbsp;FedEx(FDX)</b> — Shares of the shipping company rose in premarket trading about KeyBanc Capital Markets upgraded FedEx to \"overweight.\" The Wall Street firm also set a $350 per share price target on FedEx. KeyBanc said FedEx can still grow volume even with the return to in-person shopping.</p><p><b>4)&nbsp;JetBlue(JBLU),Spirit Airlines(SAVE)</b> — Shares of the airlines popped in premarket trading after Susquehanna Financial Group upgraded JetBlue and Spirit Airlines to “positive.” “With a recovery in U.S. domestic air travel underway, we want to own the low-cost carriers,” the firm’s analyst told clients.</p><p><b>5)&nbsp;Booking Holdings(BKNG) </b>— The travel company gained in premarket trading after Jefferies upgraded Booking to “buy” from “hold” on a rebound in global travel. The first also hiked its 12-month price target to $2,800 per share from $2,300 per share.</p><p><b>6)&nbsp;3M(MMM) </b>— Shares of the manufacturing giant edged lower in the premarket after Deutsche Bank added a “catalyst call” sell on 3M. The Wall Street firm said the stock has curiously outperformed in recent weeks despite Deutsche Bank’s expectation for a miss on upcoming earnings.</p><p><b>7)&nbsp;NortonLifeLock(NLOK)</b> — The security company dipped in premarket trading after Bank of America initiated the stock with an “underperform” rating and a $19 per share price target. “Last year’s COVID-related spike in demand may unwind in the next few quarters and the company may return to negative trends in churn and subscriber additions, negatively impacting the revenue growth,” the firm said.</p><p><b>8)&nbsp;Honeywell(HON)</b> — Shares of Honeywell rose in premarket trade after Deutsche Bank put a catalyst call “buy” rating on the stock. The firm said investors are unenthusiastic about Honeywell, despite a recovery taking hold.</p><p><b>9)&nbsp;Bristol-Myers Squibb(BMY) </b>— Shares of the pharmaceutical company rose in the premarket about Truist upgraded Bristol-Myers Squibb to “buy” from “hold” with a $74 per share price target. The Wall Street firm said it likes Bristol-Myers Squibb’s drug pipeline.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1179268763","content_text":"Stock futures drop after US officials call for pause of J&J vaccine rollout. In addition, markets look to key U.S. inflation data.The benchmark 10-year Treasury yield inched closer to 1.7%.Bitcoin set new record, trading above $63,000.Altimeter Growth, Johnson & Johnson, FedEx & more making the biggest moves in the premarket(April 13) Stock futures sank Tuesday morning after U.S. federal health officials called for a pause in the rollout of Johnson & Johnson's (JNJ) COVID-19 vaccine amid concerns over rare blood clots in some individuals who received the inoculation.At 8:05 a.m. ET, Dow E-minis were down 110 points, or 0.33%, S&P 500 E-minis were down 10.5 points, or 0.25% and Nasdaq 100 E-minis were down 6.5 points, or 0.05%.The benchmark 10-year Treasury yield inched closer to 1.7% before the Labor Department’s data that is expected to show U.S. consumer prices rose 0.5% in March from 0.4% in February. The report is due at 8:30 a.m. ET (1230 GMT).Among stocks, U.S.-listed shares of e-commerce firm JD.com and search giant Baidu fell about 2% each in premarket trading as China’s market regulator warned internet companies to stop using any banned practices.Cryptocurrency and blockchain-related firms including Riot Blockchain and Marathon Digital Holdings jumped 9% and 8% as bitcoin prices soared 4.5%, a day ahead of listing of Coinbase, the largest U.S. cryptocurrency exchange.Stocks making the biggest moves in the premarket: Altimeter Growth, Johnson & Johnson, FedEx & more:1) Altimeter Growth(AGC) — Southeast Asia's ride-hailing giant Grab isgoing public via a SPAC mergerwith Altimeter Growth, valued at nearly $40 billion. Grab says it intends to list on the Nasdaq under ticker symbol \"GRAB\" following the deal's completion. Altimeter's shares surged nearly 9% in premarket trading.2) Johnson & Johnson(JNJ) — Shares of the drugmaker fell 2.8% in the premarket after the Food and Drug Administrationsaid it is asking states to pauseadministering J&J's Covid-19 vaccine after six people in the U.S. developed a rare disorder involving blood clots. The FDA said the recommendation is \"out of an abundance of caution.\"Modernashares popped more than 7% in early trading on the news.3) FedEx(FDX) — Shares of the shipping company rose in premarket trading about KeyBanc Capital Markets upgraded FedEx to \"overweight.\" The Wall Street firm also set a $350 per share price target on FedEx. KeyBanc said FedEx can still grow volume even with the return to in-person shopping.4) JetBlue(JBLU),Spirit Airlines(SAVE) — Shares of the airlines popped in premarket trading after Susquehanna Financial Group upgraded JetBlue and Spirit Airlines to “positive.” “With a recovery in U.S. domestic air travel underway, we want to own the low-cost carriers,” the firm’s analyst told clients.5) Booking Holdings(BKNG) — The travel company gained in premarket trading after Jefferies upgraded Booking to “buy” from “hold” on a rebound in global travel. The first also hiked its 12-month price target to $2,800 per share from $2,300 per share.6) 3M(MMM) — Shares of the manufacturing giant edged lower in the premarket after Deutsche Bank added a “catalyst call” sell on 3M. The Wall Street firm said the stock has curiously outperformed in recent weeks despite Deutsche Bank’s expectation for a miss on upcoming earnings.7) NortonLifeLock(NLOK) — The security company dipped in premarket trading after Bank of America initiated the stock with an “underperform” rating and a $19 per share price target. “Last year’s COVID-related spike in demand may unwind in the next few quarters and the company may return to negative trends in churn and subscriber additions, negatively impacting the revenue growth,” the firm said.8) Honeywell(HON) — Shares of Honeywell rose in premarket trade after Deutsche Bank put a catalyst call “buy” rating on the stock. The firm said investors are unenthusiastic about Honeywell, despite a recovery taking hold.9) Bristol-Myers Squibb(BMY) — Shares of the pharmaceutical company rose in the premarket about Truist upgraded Bristol-Myers Squibb to “buy” from “hold” with a $74 per share price target. The Wall Street firm said it likes Bristol-Myers Squibb’s drug pipeline.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":298766798848240,"gmtCreate":1713972929055,"gmtModify":1713972931972,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> 175 when close ok😁","listText":"<a href=\"https://ttm.financial/S/AAPL\">$Apple(AAPL)$&nbsp;</a><v-v data-views=\"1\"></v-v> 175 when close ok😁","text":"$Apple(AAPL)$ 175 when close ok😁","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/298766798848240","isVote":1,"tweetType":1,"viewCount":90,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":281609400803488,"gmtCreate":1709780807115,"gmtModify":1709780810498,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/Z74.SI\">$Singtel(Z74.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> gogogo","listText":"<a href=\"https://ttm.financial/S/Z74.SI\">$Singtel(Z74.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> gogogo","text":"$Singtel(Z74.SI)$ gogogo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/281609400803488","isVote":1,"tweetType":1,"viewCount":34,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346095893,"gmtCreate":1617971943012,"gmtModify":1704705472622,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Gold lor","listText":"Gold lor","text":"Gold lor","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/346095893","repostId":"1127800559","repostType":4,"repost":{"id":"1127800559","pubTimestamp":1617970907,"share":"https://ttm.financial/m/news/1127800559?lang=&edition=fundamental","pubTime":"2021-04-09 20:21","market":"fut","language":"en","title":"Bitcoin vs. Gold: Which Should You Invest in Now?","url":"https://stock-news.laohu8.com/highlight/detail?id=1127800559","media":"TheStreet","summary":"The performance of bitcoin and gold has diverged dramatically of late, but that doesn’t mean bitcoin","content":"<p>The performance of bitcoin and gold has diverged dramatically of late, but that doesn’t mean bitcoin is going to replace gold.</p>\n<p>Many have wondered whether gold has lost its shine. Certainly over the past 20 years, that’s not the case, but more recently the performance of gold has been lackluster. For 2021, gold is down about 9%, while other asset classes such as equities, real estate and even the dollar have risen higher. The latter, often moving counter to gold and other metals, is up about 3% for 2021.</p>\n<p>So what is bringing gold down? Extreme government monetary stimulus was supposed to bring “wild” inflation to the U.S. and the rest of the world. The heavy liquidity has been a boon for the stock market, with the S&amp;P 500 rising nearly 90% since the depths of late March 2020. Inflation is starting to simmer, though, and that would normally be a signal to goldbugs everywhere to start buying the metal. But curiously, that hasn’t occurred yet.</p>\n<p>Bitcoin, on the other hand, is up in 2021 an astonishing 99%! This coming off a remarkable 302% gain in 2020. Pandemic or not, investors and traders were more than interested watchers of bitcoin. The&nbsp;outperformance&nbsp;vs. gold and other asset classes is stunning, and many pundits are predicting enormous price rises by bitcoin into the future. Just two years ago, we heard of some “wild” predictions of bitcoin reaching “$100K within a couple of years.” Those people were laughed and mocked at then, but with bitcoin now selling around $58,000, it’s not that crazy anymore to consider that target a likelihood.</p>\n<p>But what about gold? Have governments passed on diversifying with the yellow metal permanently in favor of other asset classes such as currencies? Are the old models of inflation and currency de-basing no longer relevant? Or is bitcoin soon to become the new store of exchange, replacing fiat currencies altogether, as more investors abandon the dollar, euro, yen and yuan? These are all important questions to ask as we continue to see more adaptation to this mysterious cryptocurrency.</p>\n<p>I, for one, do not believe that bitcoin will replace gold. Bitcoin will have relevance and have a place for trade and exchange as more banks and firms come around to it. But in the end, gold is still going to be the metal of choice for most investors, as has been the case throughout history.</p>\n<p>If inflation does somehow get out of control, bitcoin won’t be the asset that major investors will turn to, that’s for certain. Bitcoin offers little to no protection against inflation, and it is not tied or correlated to any currency. In the short run, gold may be under-appreciated. But we don’t have to wait for the metal to start heating up. Having some gold, and even some bitcoin, for diversification purposes is a smart way to go.</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>Bitcoin vs. Gold: Which Should You Invest in Now?</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\">\nBitcoin vs. Gold: Which Should You Invest in Now?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 20:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/investing/bitcoin-versus-gold-which-should-you-invest-in-now><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The performance of bitcoin and gold has diverged dramatically of late, but that doesn’t mean bitcoin is going to replace gold.\nMany have wondered whether gold has lost its shine. Certainly over the ...</p>\n\n<a href=\"https://www.thestreet.com/investing/bitcoin-versus-gold-which-should-you-invest-in-now\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://www.thestreet.com/investing/bitcoin-versus-gold-which-should-you-invest-in-now","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1127800559","content_text":"The performance of bitcoin and gold has diverged dramatically of late, but that doesn’t mean bitcoin is going to replace gold.\nMany have wondered whether gold has lost its shine. Certainly over the past 20 years, that’s not the case, but more recently the performance of gold has been lackluster. For 2021, gold is down about 9%, while other asset classes such as equities, real estate and even the dollar have risen higher. The latter, often moving counter to gold and other metals, is up about 3% for 2021.\nSo what is bringing gold down? Extreme government monetary stimulus was supposed to bring “wild” inflation to the U.S. and the rest of the world. The heavy liquidity has been a boon for the stock market, with the S&P 500 rising nearly 90% since the depths of late March 2020. Inflation is starting to simmer, though, and that would normally be a signal to goldbugs everywhere to start buying the metal. But curiously, that hasn’t occurred yet.\nBitcoin, on the other hand, is up in 2021 an astonishing 99%! This coming off a remarkable 302% gain in 2020. Pandemic or not, investors and traders were more than interested watchers of bitcoin. The outperformance vs. gold and other asset classes is stunning, and many pundits are predicting enormous price rises by bitcoin into the future. Just two years ago, we heard of some “wild” predictions of bitcoin reaching “$100K within a couple of years.” Those people were laughed and mocked at then, but with bitcoin now selling around $58,000, it’s not that crazy anymore to consider that target a likelihood.\nBut what about gold? Have governments passed on diversifying with the yellow metal permanently in favor of other asset classes such as currencies? Are the old models of inflation and currency de-basing no longer relevant? Or is bitcoin soon to become the new store of exchange, replacing fiat currencies altogether, as more investors abandon the dollar, euro, yen and yuan? These are all important questions to ask as we continue to see more adaptation to this mysterious cryptocurrency.\nI, for one, do not believe that bitcoin will replace gold. Bitcoin will have relevance and have a place for trade and exchange as more banks and firms come around to it. But in the end, gold is still going to be the metal of choice for most investors, as has been the case throughout history.\nIf inflation does somehow get out of control, bitcoin won’t be the asset that major investors will turn to, that’s for certain. Bitcoin offers little to no protection against inflation, and it is not tied or correlated to any currency. In the short run, gold may be under-appreciated. But we don’t have to wait for the metal to start heating up. Having some gold, and even some bitcoin, for diversification purposes is a smart way to go.","news_type":1},"isVote":1,"tweetType":1,"viewCount":54,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341797111,"gmtCreate":1617853897533,"gmtModify":1704703969383,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"airline still the best","listText":"airline still the best","text":"airline still the best","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/341797111","repostId":"1143591118","repostType":4,"repost":{"id":"1143591118","pubTimestamp":1617853594,"share":"https://ttm.financial/m/news/1143591118?lang=&edition=fundamental","pubTime":"2021-04-08 11:46","market":"sg","language":"en","title":"Singapore now accounts for a third of the world’s cruises, its tourism body says","url":"https://stock-news.laohu8.com/highlight/detail?id=1143591118","media":"cnbc","summary":"KEY POINTS\n\nSingapore currently accounts for a third of the world’s cruises, its tourism body said o","content":"<div>\n<p>KEY POINTS\n\nSingapore currently accounts for a third of the world’s cruises, its tourism body said on Wednesday, owing to the roaring success of its “cruises to nowhere” at a time of crisis in the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/08/singapore-accounts-for-a-third-of-worlds-cruises-tourism-board-says.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>Singapore now accounts for a third of the world’s cruises, its tourism body says</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 now accounts for a third of the world’s cruises, its tourism body says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-08 11:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/04/08/singapore-accounts-for-a-third-of-worlds-cruises-tourism-board-says.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nSingapore currently accounts for a third of the world’s cruises, its tourism body said on Wednesday, owing to the roaring success of its “cruises to nowhere” at a time of crisis in the ...</p>\n\n<a href=\"https://www.cnbc.com/2021/04/08/singapore-accounts-for-a-third-of-worlds-cruises-tourism-board-says.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.cnbc.com/2021/04/08/singapore-accounts-for-a-third-of-worlds-cruises-tourism-board-says.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1143591118","content_text":"KEY POINTS\n\nSingapore currently accounts for a third of the world’s cruises, its tourism body said on Wednesday, owing to the roaring success of its “cruises to nowhere” at a time of crisis in the industry globally.\nCruises have yet to restart in many parts of the world after taking a beating from the coronavirus pandemic, with some of the earliest big outbreaks found on cruise ships.\nSingapore has seen relatively few domestic Covid-19 cases since last year.\n\nSingapore currently accounts for a third of the world’s cruises its tourism body said on Wednesday, owing to the roaring success of its “cruises to nowhere” at a time of crisis in the industry globally.\nCruises have yet to restart in many parts of the world after taking a beating from the coronavirus pandemic, with some of the earliest big outbreaks found on cruise ships.\nSingapore has seen relatively few domestic Covid-19 cases since last year.\nThe Singapore cruises are open only to its 5.7 million residents, who have been unable to leave the tiny country for leisure and have settled instead for activities like staycations and even indoor camping.\nThe cruises recorded about 120,000 passengers, according to the Singapore Tourism Board, and run at lower capacity, with stringent health protocols.\nSTB did not cite a source for its industry data.\nSome cruises from the Caribbean are expected to resume from June while the U.S. Centers for Disease has retained tight curbs on resuming cruises from the United States.\nSome cruises have operated in parts of Europe, Asia and the South Pacific, according to the Cruise Lines International Association.\nRoyal Caribbean said this month that it was extending the season in Singapore for its Quantum of the Seas ship due to “overwhelming demand” through October.\nGenting Cruise Lines and Royal Caribbean launched their pilot cruises late last year.\nSTB Chief Executive Keith Tan said Singapore did not expect to be leading in cruises for long.\n“Over the next few months, I certainly believe there will be more resumption of cruise business in the Caribbean, and in the Mediterranean as well,” Tan said.\nSingapore’s tourism industry has been hit hard by the pandemic, with visitors dropping nearly 86% to 2.7 million last year.","news_type":1},"isVote":1,"tweetType":1,"viewCount":115,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346242989,"gmtCreate":1618057149041,"gmtModify":1704706376606,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Ok, not bad","listText":"Ok, not bad","text":"Ok, not bad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346242989","repostId":"1142324412","repostType":4,"repost":{"id":"1142324412","pubTimestamp":1617982207,"share":"https://ttm.financial/m/news/1142324412?lang=&edition=fundamental","pubTime":"2021-04-09 23:30","market":"us","language":"en","title":"XPeng Inc.: A Reawakening","url":"https://stock-news.laohu8.com/highlight/detail?id=1142324412","media":"seekingalpha","summary":"Valuation is middling but not overvalued like in the past.Recent announcement of capacity expansion in Wuhan lends better operational and sales visibility.Company could breakeven and finally reach positive profits soon; major improvements seen in operating margins.Feared chip shortage  was not a disaster, deliveries are still strong.Government support, China's creation of an EV ecosystem.XPEV's strong deliveries describe not only excellent support from the private sector, but also the Chinese go","content":"<p><b>Summary</b></p>\n<ul>\n <li>Valuation is middling but not overvalued like in the past.</li>\n <li>Recent announcement of capacity expansion in Wuhan lends better operational and sales visibility.</li>\n <li>Company could breakeven and finally reach positive profits soon; major improvements seen in operating margins.</li>\n <li>Feared chip shortage (i.e. supply disruption) was not a disaster, deliveries are still strong.</li>\n</ul>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/4e0f3343d69719839f9b8f1d337c3984\" tg-width=\"1536\" tg-height=\"1024\"><span>Photo by Robert Way/iStock Editorial via Getty Images</span></p>\n<p><b>Introduction</b></p>\n<p>The stock price of&nbsp;XPEV&nbsp;has been converging with the performance of the S&amp;P 500 since March 2021, as compared to its massive outperformance in 4Q2020. This could be view positively or negatively. On the bright side, this suggests that price performance would become more predictable with lower volatility, indicative of a broadening consensus on the fundamental prospects of the company. On the other hand, traders may be disappointed its lack of momentum. Therefore, this is probably a good time to stop viewing XPEV as purely a trade, but re-analyze its merits as a fundamentally-driven investment.</p>\n<p><i>The frenetic performance of XPEV has calmed down in recent weeks, allowing its one year performance to track the S&amp;P 500 more closely</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/9f04001d604ecc7892ef3a76c498578b\" tg-width=\"640\" tg-height=\"236\"><span>Source: SeekingAlpha</span></p>\n<p><i>XPEV's G3 Super Long Range Smart SUV</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/68446a741f9f97afc10f2149c4e13e13\" tg-width=\"640\" tg-height=\"388\"><span>Source: XPeng Motors (G3、P7) Intelligent electric car with Internet DNA</span></p>\n<p><b>Industry and commercial positives</b></p>\n<p>Optimism on EVs and&nbsp;strong industry growth&nbsp;rates are common knowledge by now. The following points suggest specific positives for XPEV that remain intact despite relatively ebbing momentum on the stock's price (as compared to 4Q2020):</p>\n<ol>\n <li><b>Deliveries met despite fears on chip shortage.</b>While the stock's price momentum appears to have ebbed, recent news continues to remain positive. At an industry level, Chinese vehicle manufacturers XPEV andNIOmanaged to manufacture the expected numbers of vehicle deliveries, despite much feared chip shortages.XPEV chalked&nbsp;in record quarterly deliveries of 13,340 EVs in Q1 2021, +487% over the year and +130% over the month in March.NIO delivered&nbsp;20,060 +423% over the year while Q1 deliveries rose 15.6% to 20,060. The challenge these EV manufacturers face now is not so much the ability to deliver on its numbers, but on being able to meet high expectations for the stock price to gain further traction.</li>\n <li><b>Government support, China's creation of an EV ecosystem.</b>XPEV's strong deliveries describe not only excellent support from the private sector, but also the Chinese government's push to develop this part of its industry. XPEV has entered into an agreement with the city of Wuhan to build a factory with a capacity of 100,000 EV units. This is a very significant piece of news, considering its deliveries of just 5,102 in March 2021. Annualizing this number, the new capacity will be more than the whole of XPEV's total historical annual production. This news is interesting and significant since it was just released this week, suggesting it may have yet to be factored into analysts' forecast numbers. This is made more important as XPEV has always been considered a laggard in production capabilities to its larger cousin NIO. General Chinese government support for the EV ecosystem is strong, and the new facility in Wuhan echoes earlier provincial government financial support ($77m) in Guangdong. The reality is, for EVs to gain traction, government willingness to support infrastructure initiatives are highly important (e.g. permits for charging stations, creating incentives to convert from old polluting vehicles to green vehicles, etc.). With China's tradition of central planning, the EV ecosystem is placed on the right footing.</li>\n <li><b>Listing in Hong Kong adds to investor base and liquidity.</b>Going forward,XPEV,NIO, and&nbsp;LI&nbsp;intend tolistin Hong Kong this year. This is a strategic move, and makes the valuation of these companies less susceptible by US political bashing (e.g. the threat of being de-listed) should it occur, since it reflects a wider geographical base. The valuations of these companies may even get a boost given greater global liquidity due to added trading in the Asian time zone.</li>\n</ol>\n<p>Of note, in late March, XPEV held an&nbsp;autonomous driving expedition&nbsp;covering eight cities in China and 3,675 kilometers. The exercise was successful, as minimal human intervention was needed during the expedition and adds another brownie point to XPEV's research and development efforts, placing XPEV on the&nbsp;competitive landscape&nbsp;against rivals such as TSLA and NIO on autonomous driving. Apparently, XPEV's autonomous driving results&nbsp;performed better&nbsp;than TSLA's with fewer human interventions per 100km and better navigation in complex situations.</p>\n<p><b>XPEV's improving financials</b></p>\n<p>Now that we have several quarters of financial data on XPEV, it is worth reviewing how its metrics have been performing. Firstly, market expectations aside, deliveries have been very good as abovementioned, and this is flowing through to revenue numbers. As shown in the below table, growth has been very strong, and revenues are expected to more than double in 2021 and continue to double in 2022. Such growth rates place XPEV at the top end of manufacturing firms, as expected of the fast-growing EV market.</p>\n<p>Another point to note is the improvement in operating margins. As with any \"new tech\" company, initial investments would cause hugely negative operating margins in the beginning. What's important is the company's ability to improve margins and reduce costs over time. In this respect, XPEV has done a good job, with operating margins improving sequentially each quarter. Of note, operating margins started to see major improvements between the Jun-2020 (-142%) and Dec-2020 (-39%) quarters as shown in the table below. Given this trend, the company is likely to breakeven and register positive profits soon, which could be a catalytic re-rating for XPEV. When we pair this analysis with the stock price, it appears that XPEV's recently soft stock price performance is not justified.</p>\n<p>Meanwhile, the balance sheet is expected to remain strong. Equity to total liabilities &amp; equity is 23% as at Dec-2020. As abovementioned, further capital raises with a forthcoming Hong Kong listing will add to XPEV's cash buffer.</p>\n<p><i>XPEV's performance improvement in both revenue and operating margin trends appear to have been ignored by the market due to recent the broad market capitulation</i></p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/f8258dce0cc10e8118a23afce7655bed\" tg-width=\"726\" tg-height=\"737\"><span>*EST = estimate by analysts' consensus from SeekingAlpha</span></p>\n<p><b>XPEV's valuation: somewhere in the middle</b></p>\n<p>XPEV's stock price has done well over the last 6 months versus peers. On a TTM P/S, XPEV is near the middle although its FWD P/S is trading at a premium. However, there could be a general re-rating of the P/S of the sector if the Chinese EV manufacturers reach breakeven in 2021 and record positive profits (our base case belief, given the prevailing trend in XPEV's improving operating margins). This will then allow better price discovery when the companies can then be valued on their P/E ratios.</p>\n<img src=\"https://static.tigerbbs.com/fa975ce545e950a20f809bcc7f698ef6\" tg-width=\"911\" tg-height=\"594\">\n<table>\n <tbody>\n  <tr></tr>\n </tbody>\n</table>\n<p><b>Conclusion and Risks</b></p>\n<p>XPEV's stock price may benefit from two key catalysts: (1) expansion of manufacturing facility in Wuhan, which will concretely raise visibility of revenue growth which is expected to double; (2) a valuation regime change as it progresses from a loss making company to a profitable one, expected by this year. Furthermore, it is worth noting that the valuation is not lofty as compared to price levels in 4Q2020, having fallen over the last couple of months.</p>\n<p>Competition may exist and remain intense, but given the large size of China's market and that there are only a couple of notable players (i.e. NIO, LI), the market remains largely an oligopoly which allows XPEV to retain pricing power.</p>\n<p>Much feared risks of execution in the past appear to have materialized but not in a big way, i.e. the previously expected chip shortage. Given the progression to a post-COVID economy, supply chain links should improve and reduce similar risks in the future.</p>\n<p>On a standalone basis, XPEV's prospects appear bright, and now the key hurdle is whether the NASDAQ will find momentum and exceed previous highs. The base case for this should lean towards the positive as the market is merely in the first year of the economic recovery after the pandemic. Recent price consolidation appears to have created a technical setup for a reawakening of price momentum as consumer activity revives post-pandemic.</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>XPeng Inc.: A Reawakening</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\">\nXPeng Inc.: A Reawakening\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4418326-xpeng-inc-reawakening><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Summary\n\nValuation is middling but not overvalued like in the past.\nRecent announcement of capacity expansion in Wuhan lends better operational and sales visibility.\nCompany could breakeven and ...</p>\n\n<a href=\"https://seekingalpha.com/article/4418326-xpeng-inc-reawakening\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XPEV":"小鹏汽车"},"source_url":"https://seekingalpha.com/article/4418326-xpeng-inc-reawakening","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1142324412","content_text":"Summary\n\nValuation is middling but not overvalued like in the past.\nRecent announcement of capacity expansion in Wuhan lends better operational and sales visibility.\nCompany could breakeven and finally reach positive profits soon; major improvements seen in operating margins.\nFeared chip shortage (i.e. supply disruption) was not a disaster, deliveries are still strong.\n\nPhoto by Robert Way/iStock Editorial via Getty Images\nIntroduction\nThe stock price of XPEV has been converging with the performance of the S&P 500 since March 2021, as compared to its massive outperformance in 4Q2020. This could be view positively or negatively. On the bright side, this suggests that price performance would become more predictable with lower volatility, indicative of a broadening consensus on the fundamental prospects of the company. On the other hand, traders may be disappointed its lack of momentum. Therefore, this is probably a good time to stop viewing XPEV as purely a trade, but re-analyze its merits as a fundamentally-driven investment.\nThe frenetic performance of XPEV has calmed down in recent weeks, allowing its one year performance to track the S&P 500 more closely\nSource: SeekingAlpha\nXPEV's G3 Super Long Range Smart SUV\nSource: XPeng Motors (G3、P7) Intelligent electric car with Internet DNA\nIndustry and commercial positives\nOptimism on EVs and strong industry growth rates are common knowledge by now. The following points suggest specific positives for XPEV that remain intact despite relatively ebbing momentum on the stock's price (as compared to 4Q2020):\n\nDeliveries met despite fears on chip shortage.While the stock's price momentum appears to have ebbed, recent news continues to remain positive. At an industry level, Chinese vehicle manufacturers XPEV andNIOmanaged to manufacture the expected numbers of vehicle deliveries, despite much feared chip shortages.XPEV chalked in record quarterly deliveries of 13,340 EVs in Q1 2021, +487% over the year and +130% over the month in March.NIO delivered 20,060 +423% over the year while Q1 deliveries rose 15.6% to 20,060. The challenge these EV manufacturers face now is not so much the ability to deliver on its numbers, but on being able to meet high expectations for the stock price to gain further traction.\nGovernment support, China's creation of an EV ecosystem.XPEV's strong deliveries describe not only excellent support from the private sector, but also the Chinese government's push to develop this part of its industry. XPEV has entered into an agreement with the city of Wuhan to build a factory with a capacity of 100,000 EV units. This is a very significant piece of news, considering its deliveries of just 5,102 in March 2021. Annualizing this number, the new capacity will be more than the whole of XPEV's total historical annual production. This news is interesting and significant since it was just released this week, suggesting it may have yet to be factored into analysts' forecast numbers. This is made more important as XPEV has always been considered a laggard in production capabilities to its larger cousin NIO. General Chinese government support for the EV ecosystem is strong, and the new facility in Wuhan echoes earlier provincial government financial support ($77m) in Guangdong. The reality is, for EVs to gain traction, government willingness to support infrastructure initiatives are highly important (e.g. permits for charging stations, creating incentives to convert from old polluting vehicles to green vehicles, etc.). With China's tradition of central planning, the EV ecosystem is placed on the right footing.\nListing in Hong Kong adds to investor base and liquidity.Going forward,XPEV,NIO, and LI intend tolistin Hong Kong this year. This is a strategic move, and makes the valuation of these companies less susceptible by US political bashing (e.g. the threat of being de-listed) should it occur, since it reflects a wider geographical base. The valuations of these companies may even get a boost given greater global liquidity due to added trading in the Asian time zone.\n\nOf note, in late March, XPEV held an autonomous driving expedition covering eight cities in China and 3,675 kilometers. The exercise was successful, as minimal human intervention was needed during the expedition and adds another brownie point to XPEV's research and development efforts, placing XPEV on the competitive landscape against rivals such as TSLA and NIO on autonomous driving. Apparently, XPEV's autonomous driving results performed better than TSLA's with fewer human interventions per 100km and better navigation in complex situations.\nXPEV's improving financials\nNow that we have several quarters of financial data on XPEV, it is worth reviewing how its metrics have been performing. Firstly, market expectations aside, deliveries have been very good as abovementioned, and this is flowing through to revenue numbers. As shown in the below table, growth has been very strong, and revenues are expected to more than double in 2021 and continue to double in 2022. Such growth rates place XPEV at the top end of manufacturing firms, as expected of the fast-growing EV market.\nAnother point to note is the improvement in operating margins. As with any \"new tech\" company, initial investments would cause hugely negative operating margins in the beginning. What's important is the company's ability to improve margins and reduce costs over time. In this respect, XPEV has done a good job, with operating margins improving sequentially each quarter. Of note, operating margins started to see major improvements between the Jun-2020 (-142%) and Dec-2020 (-39%) quarters as shown in the table below. Given this trend, the company is likely to breakeven and register positive profits soon, which could be a catalytic re-rating for XPEV. When we pair this analysis with the stock price, it appears that XPEV's recently soft stock price performance is not justified.\nMeanwhile, the balance sheet is expected to remain strong. Equity to total liabilities & equity is 23% as at Dec-2020. As abovementioned, further capital raises with a forthcoming Hong Kong listing will add to XPEV's cash buffer.\nXPEV's performance improvement in both revenue and operating margin trends appear to have been ignored by the market due to recent the broad market capitulation\n*EST = estimate by analysts' consensus from SeekingAlpha\nXPEV's valuation: somewhere in the middle\nXPEV's stock price has done well over the last 6 months versus peers. On a TTM P/S, XPEV is near the middle although its FWD P/S is trading at a premium. However, there could be a general re-rating of the P/S of the sector if the Chinese EV manufacturers reach breakeven in 2021 and record positive profits (our base case belief, given the prevailing trend in XPEV's improving operating margins). This will then allow better price discovery when the companies can then be valued on their P/E ratios.\n\n\n\n\n\n\nConclusion and Risks\nXPEV's stock price may benefit from two key catalysts: (1) expansion of manufacturing facility in Wuhan, which will concretely raise visibility of revenue growth which is expected to double; (2) a valuation regime change as it progresses from a loss making company to a profitable one, expected by this year. Furthermore, it is worth noting that the valuation is not lofty as compared to price levels in 4Q2020, having fallen over the last couple of months.\nCompetition may exist and remain intense, but given the large size of China's market and that there are only a couple of notable players (i.e. NIO, LI), the market remains largely an oligopoly which allows XPEV to retain pricing power.\nMuch feared risks of execution in the past appear to have materialized but not in a big way, i.e. the previously expected chip shortage. Given the progression to a post-COVID economy, supply chain links should improve and reduce similar risks in the future.\nOn a standalone basis, XPEV's prospects appear bright, and now the key hurdle is whether the NASDAQ will find momentum and exceed previous highs. The base case for this should lean towards the positive as the market is merely in the first year of the economic recovery after the pandemic. Recent price consolidation appears to have created a technical setup for a reawakening of price momentum as consumer activity revives post-pandemic.","news_type":1},"isVote":1,"tweetType":1,"viewCount":153,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346159612,"gmtCreate":1618016548036,"gmtModify":1704705943123,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Okay...&nbsp;","listText":"Okay...&nbsp;","text":"Okay...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/346159612","repostId":"1168300924","repostType":4,"repost":{"id":"1168300924","pubTimestamp":1617955250,"share":"https://ttm.financial/m/news/1168300924?lang=&edition=fundamental","pubTime":"2021-04-09 16:00","market":"us","language":"en","title":"Next Week’s IPO Lineup Is Growing. It Could Be Busy.","url":"https://stock-news.laohu8.com/highlight/detail?id=1168300924","media":"barrons","summary":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Pa","content":"<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.</p><p>Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.</p><p>And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.</p><p>This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.</p><p>Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.</p><p>Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR,&nbsp;Bank of America‘s (BAC) BofA Securities, andCitigroup(C).</p><p>Founded in 2012, Applovin&nbsp;provides software&nbsp;used by mobile-game developers to grow their businesses.&nbsp; Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.</p><p>In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.</p><p>With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.</p><p>TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.</p><p>Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.</p><p>Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.</p><p>TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.</p><p>The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.</p><p>TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management &amp; Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.</p><p>The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.</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>Next Week’s IPO Lineup Is Growing. It Could Be Busy.</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\">\nNext Week’s IPO Lineup Is Growing. It Could Be Busy.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 16:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2><strong>barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six....</p>\n\n<a href=\"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"ALKT":"Alkami Technology, Inc.","VECT":"VectivBio Holding AG","KRT":"Karat Packaging Inc.","APP":"AppLovin Corporation","COIN":"Coinbase Global, Inc."},"source_url":"https://www.barrons.com/articles/next-weeks-ipo-lineup-is-growing-it-could-be-busy-51617907448?mod=hp_LEAD_1_B_2","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168300924","content_text":"The second week of April is shaping up to be a relatively strong time for the IPO market. As many as four more companies are making their stock-market debuts, bringing the total to at least six.Coinbase, the largest U.S. cryptocurrency exchange,is slated to open for trading on Wednesday, April 14. Applovin and TuSimple are listing the next day, three people familiar with the situation said. Agilon Health ismaking its debut that Thursday.And Alkami Technology,a bank software company, and Karat Packaging, whichmakes environmentally-friendly disposable food service products, are also reportedly going public.This week, by way of contrast, two companies, Reneo Pharmaceuticals and VectivBio Holding, are listing. Both are small biotech companies that areslated to begin trading on the Nasdaq on Friday.Applovin on Wednesday set terms for its initial public offering. It is offering 25 million shares at $75 to $85 each, which means it could raise as much as $2.13 billion if the stock sells at the high end of that range. The company plans to trade on the Nasdaq under the symbol APP.Eighteen underwriters are listed in the Applovin prospectus, includingMorgan Stanley(ticker: MS),JPMorgan Chase(JPM),KKR, Bank of America‘s (BAC) BofA Securities, andCitigroup(C).Founded in 2012, Applovin provides software used by mobile-game developers to grow their businesses.  Some 410 million people a day open apps that contain Applovin software, according to the company. Applovin also has a portfolio of more than 200 free-to-play mobile games with 32 million daily users.In 2018, KKRbought a minority stakein Applovin for $400 million, valuing Applovin at $2 billion at the time. Applovin in February acquired Adjust, a firm that helps mobile-app developers measure the performance of apps and prevent fraud, for $1 billion. KKR will own 67.4% of the company after the IPO, theprospectus said.With 357,955,309 shares outstanding, Applovin’s market capitalization could hit $30 billion.TuSimple also set terms for its IPO. The self-driving technology company could raise as much as $1.3 billion; it is offering nearly 34 million shares at $35 to $39 each. It will trade on the Nasdaq under the ticker TSP.Morgan Stanley(MS),Citigroup,and J.P. Morgan (JPM) are lead bookrunners on the deal.Founded in 2015, TuSimple is looking to transform the $800 billion trucking industry. The San Diego company, which has plants in Tucson, Shanghai, and Beijing, in addition to operations in Japan, is developing an autonomous freight network for long-haul, semi-trucks that it says will increase efficiency and safety on the road, while cutting operating costs.TuSimple develops software for the Level 4 self-driving, long-haul trucks, which can see up to 1,000 meters away, equivalent to 30 seconds of driving time. High-definition maps provide accuracy within five centimeters.The company is partnering withNavistar(NAV) to develop trucks for the North American market by 2024,its prospectus said. TuSimple has another partnership withVolkswagensubsidiary TRATON for trucks in Europe. Navistar, TRATON, and United Parcel Service (UPS) are all investors.TuSimple has raised $800 million in funding, including a $350 million round in November led by VectoIQ.BlackRock(BR), Fidelity Management & Research Co and Capital Group are in talks to buy up to 10.1 million TuSimple shares at the IPO price, the prospectus said.The company will have 212,263,328 shares outstanding, meaning TuSimple’s market cap could climb to $8.3 billion. TuSimple, however, is not profitable. Losses widened to $177.9 million in 2020 from $84.9 million in 2019. Revenue jumped nearly 160% to $1.8 million in 2020.","news_type":1},"isVote":1,"tweetType":1,"viewCount":134,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346150043,"gmtCreate":1618016439482,"gmtModify":1704705940854,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Good good","listText":"Good good","text":"Good good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346150043","repostId":"2126315033","repostType":4,"repost":{"id":"2126315033","pubTimestamp":1617981660,"share":"https://ttm.financial/m/news/2126315033?lang=&edition=fundamental","pubTime":"2021-04-09 23:21","market":"us","language":"en","title":"Netflix Grabs Sony's Pay-TV Movie Deal From Starz","url":"https://stock-news.laohu8.com/highlight/detail?id=2126315033","media":"Anders Bylund","summary":"Most Hollywood studios have started their own streaming services to compete in the evolving media market. Sony picked a well-established partner instead.","content":"<p>Video-streaming veteran <b>Netflix</b> (NASDAQ:NFLX) just signed a multiyear content deal with <b>Sony</b> (NYSE:SNE) Pictures Entertainment. Starting in 2022, Sony will move its exclusive pay-TV distribution window from longtime partner <a href=\"https://laohu8.com/S/STRZA\">Starz</a> to Netflix, putting the studio's theatrical releases on Netflix's global streaming platform.</p><p>Sony and Netflix already had a streaming agreement for animated content, but this deal expands that partnership to all genres and production types. Titles making their home entertainment premiere in 2022 on Netflix rather than <b>Lions Gate Entertainment</b> (NYSE:LGF-A) (NYSE:LGF-B) subsidiary <a href=\"https://laohu8.com/S/STRZB\">Starz</a> will include the Brad Pitt thriller <i>Bullet Train</i>, the ensemble-cast action movie <i>Uncharted</i>, and the Reese Witherspoon-produced murder drama <i>Where the Crawdads Sing</i>.</p><p><img src=\"https://static.tigerbbs.com/9243727dc46ddf4fb557f7d44eef1325\" tg-width=\"700\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>Image source: Getty Images.</p><p>Netflix will also distribute future titles in Sony's established film franchises such as <i>Venom</i>, <i>Jumanji</i>, and <i>Bad Boys</i>, as well as any other new projects that Sony's several studio brands may come up with. The deal also allows licensing rights for Netflix to show some titles from Sony's enormous back catalog.</p><p>Furthermore, Netflix gets \"first look\" privilege to consider developing any direct-to-streaming titles Sony's studios may develop during this agreement.&nbsp;Netflix has committed to releasing an undisclosed minimum number of such productions, which will add exclusive Sony/Netflix content on top of Sony's continuing theatrical productions.</p><p>The terms of the deal were not disclosed, but Netflix's payments to Sony should be \"record setting\" for a pay-TV distribution window, according to <i>Variety</i>'s anonymous insider sources.</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>Netflix Grabs Sony's Pay-TV Movie Deal From Starz</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\">\nNetflix Grabs Sony's Pay-TV Movie Deal From Starz\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-09 23:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/09/netflix-grabs-sonys-pay-tv-movie-deal-from-starz/><strong>Anders Bylund</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Video-streaming veteran Netflix (NASDAQ:NFLX) just signed a multiyear content deal with Sony (NYSE:SNE) Pictures Entertainment. Starting in 2022, Sony will move its exclusive pay-TV distribution ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/09/netflix-grabs-sonys-pay-tv-movie-deal-from-starz/\">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","NFLX":"奈飞"},"source_url":"https://www.fool.com/investing/2021/04/09/netflix-grabs-sonys-pay-tv-movie-deal-from-starz/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2126315033","content_text":"Video-streaming veteran Netflix (NASDAQ:NFLX) just signed a multiyear content deal with Sony (NYSE:SNE) Pictures Entertainment. Starting in 2022, Sony will move its exclusive pay-TV distribution window from longtime partner Starz to Netflix, putting the studio's theatrical releases on Netflix's global streaming platform.Sony and Netflix already had a streaming agreement for animated content, but this deal expands that partnership to all genres and production types. Titles making their home entertainment premiere in 2022 on Netflix rather than Lions Gate Entertainment (NYSE:LGF-A) (NYSE:LGF-B) subsidiary Starz will include the Brad Pitt thriller Bullet Train, the ensemble-cast action movie Uncharted, and the Reese Witherspoon-produced murder drama Where the Crawdads Sing.Image source: Getty Images.Netflix will also distribute future titles in Sony's established film franchises such as Venom, Jumanji, and Bad Boys, as well as any other new projects that Sony's several studio brands may come up with. The deal also allows licensing rights for Netflix to show some titles from Sony's enormous back catalog.Furthermore, Netflix gets \"first look\" privilege to consider developing any direct-to-streaming titles Sony's studios may develop during this agreement. Netflix has committed to releasing an undisclosed minimum number of such productions, which will add exclusive Sony/Netflix content on top of Sony's continuing theatrical productions.The terms of the deal were not disclosed, but Netflix's payments to Sony should be \"record setting\" for a pay-TV distribution window, according to Variety's anonymous insider sources.","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":282084741984320,"gmtCreate":1709894287212,"gmtModify":1709894291416,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/Z74.SI\">$Singtel(Z74.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> up up up","listText":"<a href=\"https://ttm.financial/S/Z74.SI\">$Singtel(Z74.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> up up up","text":"$Singtel(Z74.SI)$ up up up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/282084741984320","isVote":1,"tweetType":1,"viewCount":47,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187243511,"gmtCreate":1623756736633,"gmtModify":1703818253381,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"well said","listText":"well said","text":"well said","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187243511","repostId":"1167457915","repostType":4,"repost":{"id":"1167457915","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1623750756,"share":"https://ttm.financial/m/news/1167457915?lang=&edition=fundamental","pubTime":"2021-06-15 17:52","market":"us","language":"en","title":"Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1167457915","media":"Benzinga","summary":"It was \"better late than never\" for Novavax, Inc.NVAX, as the biopharma finally got around to announ","content":"<p>It was \"better late than never\" for&nbsp;<b>Novavax, Inc.</b>NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.</p>\n<p>Here's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namely<b>Pfizer Inc.</b>PFE 0.05%-<b>BioNTech SE</b>BNTXand<b>Moderna, Inc.</b>MRNA, both of which have authorized vaccines in the market.</p>\n<p><b>Vaccine Type:</b>&nbsp;Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.</p>\n<p>The Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern&nbsp;vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.</p>\n<p>This spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.</p>\n<p>Novavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle&nbsp;that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.</p>\n<p><b>The Vaccine Doses:</b>&nbsp;The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.</p>\n<p>The interval between the two doses —&nbsp;the priming and booster dose —&nbsp;is 21 days each for Pfizer and Novavax and 28 days for Moderna.</p>\n<p><b>The Target Population:</b>&nbsp;The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants&nbsp;ages 16 years and older. The trial enrolled 43,448 participants.</p>\n<p>Moderna'sPhase 3 COVE study enrolled 30,000 participants&nbsp;ages 18 years and up.</p>\n<p>Since then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.</p>\n<p>Bothcompanieshave also initiated studies in the pediatric population.</p>\n<p>Novavax's study enrolled 29,960 participants&nbsp;18 years of age and older&nbsp;across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.</p>\n<p><b>Vaccine Logistics:</b>&nbsp;Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.</p>\n<p>Previously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five&nbsp;days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.</p>\n<p>NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.</p>\n<p><b>Vaccine Efficacy:</b>&nbsp;Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven&nbsp;days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.</p>\n<p>The vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.</p>\n<p>Moderna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.</p>\n<p>Novavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.</p>\n<p>Against variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.</p>\n<p>Overall efficacy was 90.4%, meeting the primary endpoint.</p>\n<p><b>Cantor Fitzgerald On Novavax's Vaccine:</b>A differentiating factor for NVX-2373&nbsp;is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.</p>\n<p>\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.</p>\n<p>Showing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.</p>\n<p>This profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.</p>\n<p><b>Vaccine Safety Data:</b>Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from&nbsp;BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.</p>\n<p>For Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.</p>\n<p>Preliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.</p>\n<p>In assessing reactogenicity seven&nbsp;days after dose one&nbsp;and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.</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>Novavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNovavax Vs. Pfizer Vs. Moderna: How COVID-19 Vaccines Stack Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-06-15 17:52</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>It was \"better late than never\" for&nbsp;<b>Novavax, Inc.</b>NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.</p>\n<p>Here's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namely<b>Pfizer Inc.</b>PFE 0.05%-<b>BioNTech SE</b>BNTXand<b>Moderna, Inc.</b>MRNA, both of which have authorized vaccines in the market.</p>\n<p><b>Vaccine Type:</b>&nbsp;Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.</p>\n<p>The Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern&nbsp;vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.</p>\n<p>This spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.</p>\n<p>Novavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle&nbsp;that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.</p>\n<p><b>The Vaccine Doses:</b>&nbsp;The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.</p>\n<p>The interval between the two doses —&nbsp;the priming and booster dose —&nbsp;is 21 days each for Pfizer and Novavax and 28 days for Moderna.</p>\n<p><b>The Target Population:</b>&nbsp;The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants&nbsp;ages 16 years and older. The trial enrolled 43,448 participants.</p>\n<p>Moderna'sPhase 3 COVE study enrolled 30,000 participants&nbsp;ages 18 years and up.</p>\n<p>Since then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.</p>\n<p>Bothcompanieshave also initiated studies in the pediatric population.</p>\n<p>Novavax's study enrolled 29,960 participants&nbsp;18 years of age and older&nbsp;across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.</p>\n<p><b>Vaccine Logistics:</b>&nbsp;Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.</p>\n<p>Previously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five&nbsp;days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.</p>\n<p>NVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.</p>\n<p><b>Vaccine Efficacy:</b>&nbsp;Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven&nbsp;days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.</p>\n<p>The vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.</p>\n<p>Moderna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.</p>\n<p>Novavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.</p>\n<p>Against variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.</p>\n<p>Overall efficacy was 90.4%, meeting the primary endpoint.</p>\n<p><b>Cantor Fitzgerald On Novavax's Vaccine:</b>A differentiating factor for NVX-2373&nbsp;is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.</p>\n<p>\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.</p>\n<p>Showing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.</p>\n<p>This profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.</p>\n<p><b>Vaccine Safety Data:</b>Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from&nbsp;BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.</p>\n<p>For Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.</p>\n<p>Preliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.</p>\n<p>In assessing reactogenicity seven&nbsp;days after dose one&nbsp;and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NVAX":"诺瓦瓦克斯医药","MRNA":"Moderna, Inc.","PFE":"辉瑞"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1167457915","content_text":"It was \"better late than never\" for Novavax, Inc.NVAX, as the biopharma finally got around to announcing interim results from the U.S. and Mexico leg of the Phase 3 study of NVX-CoV2371, its vaccine candidate against the novel coronavirus.\nHere's a comparative perspective of the vaccine candidates from Novavax, and the frontrunners, namelyPfizer Inc.PFE 0.05%-BioNTech SEBNTXandModerna, Inc.MRNA, both of which have authorized vaccines in the market.\nVaccine Type: Novavax's NVX-CoV2371 is a recombinant nano-particle protein-based COVID-19 vaccine that is packaged with the company's proprietary Matrix-M adjuvant.\nThe Pfizer-BioNTech and Moderna products are mRNA vaccines, or modern vaccines that work by using a genetic code called mRNA that instructs our immune cells to make spike protein, which is found on the surface of the virus that causes COVID-19.\nThis spike protein, though harmless, is capable of triggering our immune system to produce antibodies that offer protection against future infection.\nNovavax's vaccine is a protein adjuvant that contains the spike protein of the coronavirus itself, but formulated as a nanoparticle that cannot cause disease. The injected vaccine then stimulates the immune system to produce antibodies and T-cell immune responses.\nThe Vaccine Doses: The vaccines from each of the three companies require two doses. Each dose consists of 30 mcg for Pfizer and 100 mcg for Moderna, while for Novavax, each vaccine dose consists of 5 mcg of NVX-CoV2371 and 50 mcg of Matrix-M1 adjuvant that are co-formulated.\nThe interval between the two doses — the priming and booster dose — is 21 days each for Pfizer and Novavax and 28 days for Moderna.\nThe Target Population: The original late-stage trial of Pfizer-BioNTech evaluated the vaccine in participants ages 16 years and older. The trial enrolled 43,448 participants.\nModerna'sPhase 3 COVE study enrolled 30,000 participants ages 18 years and up.\nSince then, these two companies have obtained authorizations for their respective vaccines to be used in adolescents.\nBothcompanieshave also initiated studies in the pediatric population.\nNovavax's study enrolled 29,960 participants 18 years of age and older across 119 sites in the U.S. and Mexico. The placebo-controlled portion of PREVENT-19 continues in adolescents from 12 to less than 18 years of age and recently completed enrollment with 2,248 participants.\nVaccine Logistics: Pfizer recently secured FDA authorization for storing undiluted, thawed vaccine vials in the refrigerator at 2°C to 8°C for up to one month.\nPreviously, thawed, undiluted vaccine vials could be stored in the refrigerator for up to five days. Moderna's vaccine can be stored refrigerated between 2° and 8°C for up to 30 days prior to first use.\nNVX-CoV2373 is stored and stable at 2°- 8°C, allowing the use of existing vaccine supply chain channels for its distribution. It is packaged in a ready-to-use liquid formulation in 10-dose vials.\nVaccine Efficacy: Interim data from Pfizer-BioNTech's Phase 3 trials released in December showed the vaccine was well-tolerated and demonstrated 95% efficacy in preventing COVID-19 in those without prior infection seven days or more after the second dose. Updated top-line results released for up to six months after the second dose confirmed efficacy at 91.3%.\nThe vaccine was found 100% effective against severe disease as defined by the U.S. Centers for Disease Control and Prevention, and 95.3% effective against severe COVID-19 as defined by the FDA. It was also proved effective against the U.K. strain in lab studies.\nModerna's vaccine showed efficacy of 94.1% against COVID-19. The company announced in May initial data from its Phase 2 study showing that a single 50 mcg dose of mRNA-1273 or mRNA-1273.351 given as a booster to previously vaccinated individuals increased neutralizing antibody titer responses against SARS-CoV-2 and two variants of concern, B.1.351, first identified in South Africa, and P.1, first identified in Brazil.\nNovavax's investigational vaccine demonstrated 100% protection against moderate and severe disease not involving variants of concern or variants of interest.\nAgainst variants of concern and variants of interest, the efficacy was 93.2% and in high-risk populations, defined as over 65 or under 65 years with certain comorbidities or having circumstances with frequent COVID-19 exposure, the efficacy was 91%.\nOverall efficacy was 90.4%, meeting the primary endpoint.\nCantor Fitzgerald On Novavax's Vaccine:A differentiating factor for NVX-2373 is that it showed vaccine efficacy of 93.2% against VoC/VoI, which demonstrates protection across a broad range of SARS-CoV-2 strains, Cantor Fitzgerald analyst Charles Duncan said in a Monday morning note.\n\"Overall, these results enhance our conviction for a differentiated clinical and logistics profile from the SARS-CoV-2 vaccine candidate ‘2373,\" the analyst said.\nShowing efficacy against new strains in two Phase 3 clinical trials, rather than extrapolating potential efficacy from a neutralizing antibody assay conducted in a petri dish, differentiates NVX-CoV2373 from other vaccines that have emergency use authorization, he said.\nThis profile, according to Cantor reduces regulatory/ commercial risk for the ‘2373 SARS-CoV-2 prophylactic vaccine candidate and, with positive Phase 3 data for NanoFlu reported in March 2020, should raise the profile for Novavax's platform as a whole.\nVaccine Safety Data:Pfizer-BioNTech's vaccine showed a favorable tolerability and safety profile, with the most common adverse events from BNT162b2 being transient, mild to moderate pain at the injection site, fatigue and headache, and these generally resolved within two days.\nFor Moderna, the most common adverse reactions included injection site pain, fatigue, myalgia, arthralgia, headache, and erythema/redness at the injection site. Solicited adverse reactions increased in frequency and severity in the mRNA-1273 group after the second dose.\nPreliminary safety data from Novavax's trial showed the vaccine to be generally well-tolerated. Serious and severe adverse events were low in number and balanced between vaccine and placebo groups.\nIn assessing reactogenicity seven days after dose one and dose two, injection site pain and tenderness, generally mild to moderate in severity, were the most common local symptoms, lasting less than three days. Fatigue, headache and muscle pain were the most common systemic symptoms, lasting less than two days.","news_type":1},"isVote":1,"tweetType":1,"viewCount":173,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":346150386,"gmtCreate":1618016472245,"gmtModify":1704705941177,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"Ah.....","listText":"Ah.....","text":"Ah.....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/346150386","repostId":"1180128899","repostType":4,"repost":{"id":"1180128899","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":1617977997,"share":"https://ttm.financial/m/news/1180128899?lang=&edition=fundamental","pubTime":"2021-04-09 22:19","market":"us","language":"en","title":"Facebook to turn Menlo Park headquarters into vaccination site","url":"https://stock-news.laohu8.com/highlight/detail?id=1180128899","media":"Reuters","summary":"Facebook Inc said on Friday it is converting a part of its Menlo Park headquarters into a vaccination site, joining the government effort to speed up the vaccination drive in the United States.For this initiative, the company is teaming up with Ravenswood Family Health Centre, Chief Operating Officer Sheryl Sandberg wrote in a post.“We’re also teaming up with the State of California and local nonprofits to support mobile vaccination clinics in four of the state’s hardest hit regions,” wrote Sand","content":"<p>Facebook Inc said on Friday it is converting a part of its Menlo Park headquarters into a vaccination site, joining the government effort to speed up the vaccination drive in the United States.</p>\n<p>For this initiative, the company is teaming up with Ravenswood Family Health Centre, Chief Operating Officer Sheryl Sandberg wrote in a post.</p>\n<p>“We’re also teaming up with the State of California and local nonprofits to support mobile vaccination clinics in four of the state’s hardest hit regions,” wrote Sandberg.</p>\n<p>Earlier this year, the social media company decided to launch a tool to give people in the United States information about where to get COVID-19 vaccines and added a COVID-19 information area to its photo-sharing site, Instagram.</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>Facebook to turn Menlo Park headquarters into vaccination site</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{ 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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\">\nFacebook to turn Menlo Park headquarters into vaccination site\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\">2021-04-09 22:19</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Facebook Inc said on Friday it is converting a part of its Menlo Park headquarters into a vaccination site, joining the government effort to speed up the vaccination drive in the United States.</p>\n<p>For this initiative, the company is teaming up with Ravenswood Family Health Centre, Chief Operating Officer Sheryl Sandberg wrote in a post.</p>\n<p>“We’re also teaming up with the State of California and local nonprofits to support mobile vaccination clinics in four of the state’s hardest hit regions,” wrote Sandberg.</p>\n<p>Earlier this year, the social media company decided to launch a tool to give people in the United States information about where to get COVID-19 vaccines and added a COVID-19 information area to its photo-sharing site, Instagram.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1180128899","content_text":"Facebook Inc said on Friday it is converting a part of its Menlo Park headquarters into a vaccination site, joining the government effort to speed up the vaccination drive in the United States.\nFor this initiative, the company is teaming up with Ravenswood Family Health Centre, Chief Operating Officer Sheryl Sandberg wrote in a post.\n“We’re also teaming up with the State of California and local nonprofits to support mobile vaccination clinics in four of the state’s hardest hit regions,” wrote Sandberg.\nEarlier this year, the social media company decided to launch a tool to give people in the United States information about where to get COVID-19 vaccines and added a COVID-19 information area to its photo-sharing site, Instagram.","news_type":1},"isVote":1,"tweetType":1,"viewCount":170,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":327405089,"gmtCreate":1616114513941,"gmtModify":1704791096795,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/Z74.SI\">$SINGTEL(Z74.SI)$</a>GoGoGo!","listText":"<a href=\"https://laohu8.com/S/Z74.SI\">$SINGTEL(Z74.SI)$</a>GoGoGo!","text":"$SINGTEL(Z74.SI)$GoGoGo!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/327405089","isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":303205387132968,"gmtCreate":1715060358954,"gmtModify":1715060362576,"author":{"id":"3578819471059082","authorId":"3578819471059082","name":"TerenceWon","avatar":"https://static.tigerbbs.com/5786c079dea543ebea1a04545c8387b9","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3578819471059082","idStr":"3578819471059082"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/C6L.SI\">$(C6L.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Best Airline in the world, up to the moon","listText":"<a href=\"https://ttm.financial/S/C6L.SI\">$(C6L.SI)$&nbsp;</a><v-v data-views=\"1\"></v-v> Best Airline in the world, up to the moon","text":"$(C6L.SI)$ Best Airline in the world, up to the moon","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/303205387132968","isVote":1,"tweetType":1,"viewCount":305,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}