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2021-06-15

Okay

Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets

2021-05-13

$High Tide Inc.(HITIF)$What is your opinion guys?

2021-05-06

Watching patiently to a CHPT.

3 Companies That Will Directly Benefit From an EV Boom

2021-05-04

$Trulieve Cannabis Corporation(TCNNF)$Buy buy buy.

2021-04-28

What is your opinion guys?

2021-04-27

Buy buy

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2021-04-27

Buy or watch?

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2021-04-26

$Bionano Genomics(BNGO)$[Miser]

2021-04-24

Is it good entry in this range?

2021-04-23

$Trulieve Cannabis Corporation(TCNNF)$Thinking to add some

2021-04-23

Is it good entry?

2021-03-18

$Tiger Brokers(TIGR)$safe bet

2021-03-17

Tell me your opinion about this news...

Apple Vs. Facebook: The Battle Over Privacy Heats Up

2021-03-17

It’s a beast

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Go to Tiger App to see more news

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comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p>\n<p><img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p>\n<p>Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p>\n<p><img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p>\n<p>It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p>\n<p><img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p>The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p>\n<p><img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p>\n<p><img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p>\n<p>Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p>\n<p><img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p>\n<p>Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p>\n<p><img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<p>One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p>\n<p>As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p>\n<p><img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p>\n<p>Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></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>Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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\">\nQuad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 21:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191245053","content_text":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").\nSo picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.\n\nYet while these totals are massive,when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.\n\nIt's worth noting that according to Goldman estimates that combos accountfor 15-20% of SPX options,so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.\n\nThe Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPXrealized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.\n\nThis contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.\n\nThen, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees thatthe extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:the market will become much more volatile in a selloff.\n\nMeanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.\n\nOne final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.\nAs Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"\n\nWhy is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!","news_type":1},"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191238293,"gmtCreate":1620879641312,"gmtModify":1704349801445,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HITIF\">$High Tide Inc.(HITIF)$</a>What is your opinion guys?","listText":"<a href=\"https://laohu8.com/S/HITIF\">$High Tide Inc.(HITIF)$</a>What is your opinion guys?","text":"$High Tide Inc.(HITIF)$What is your opinion guys?","images":[{"img":"https://static.tigerbbs.com/001b7dacfb9762874c74c9f5a2254c92","width":"1170","height":"2260"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191238293","isVote":1,"tweetType":1,"viewCount":228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":105138752,"gmtCreate":1620276575876,"gmtModify":1704341222288,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Watching patiently to a CHPT.","listText":"Watching patiently to a CHPT.","text":"Watching patiently to a CHPT.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105138752","repostId":"1148728757","repostType":4,"repost":{"id":"1148728757","kind":"news","pubTimestamp":1620268460,"share":"https://ttm.financial/m/news/1148728757?lang=&edition=fundamental","pubTime":"2021-05-06 10:34","market":"us","language":"en","title":"3 Companies That Will Directly Benefit From an EV Boom","url":"https://stock-news.laohu8.com/highlight/detail?id=1148728757","media":"The motley fool","summary":"As electric vehicle (EV) sales rise around the world, there will be a number of industries that dire","content":"<p>As electric vehicle (EV) sales rise around the world, there will be a number of industries that directly benefit from the change in energy consumption. Electricity consumption could rise, millions of EV chargers will be needed, and there will be a huge demand for raw materials.</p>\n<p>These businesses adjacent to EV manufacturing have become appealing becauseEV stockstrade for incredibly high price-to-sales multiples, or multi-billion dollar valuations for pre-revenue companies. And if you're looking for stocks that will directly benefit from EV growth, we think<b>SunPower</b>(NASDAQ:SPWR),<b>ChargePoint Holdings</b>(NYSE:CHPT), and<b>NextEra Energy</b>(NYSE:NEE)will be some of the biggest beneficiaries.</p>\n<p>The complete energy solution</p>\n<p><b>Travis Hoium(SunPower):</b>Rooftop solar and electric vehicles aren't directly related, but they serve a similar customer base, and it's well known that EV owners are far more likely to have rooftop solar than the general population and vice versa. What SunPower is doing is trying to leverage its position in the energy industry to become a full energy services company, including charging of electric vehicles.</p>\n<p>SunPower's strategy starts with rooftop solar panels, but the addition of energy storage to the home energy system is really the key. Storage allows SunPower to control when a home or electric vehicle is pulling power from the grid, when power is coming from solar panels, and when energy is stored or discharged. This will allow a homeowner to choose to \"fuel\" their EV with only homemade solar electricity or even use the EV as an additional battery pack for backup power.</p>\n<p>Based on historic trends, if EV sales grow at the rate manufacturers and industry observers expect, we would expect to see asharp rise in rooftop solarbeing installed as well. That will be a big tailwind for SunPower, and with the company moving into energy storage and complete smart home power solutions, this could be a growth stock for years to come.</p>\n<p>In need of infrastructure</p>\n<p>Howard Smith<b>(ChargePoint Holdings):</b>There will be winners and losers among the growing number of electric vehicle manufacturers. Regardless of which vehicle supplier prospers from an EV boom, though, significantly more charging infrastructure will be needed. ChargePoint has a comprehensive network of offerings that includes more than 2,000 publicly available fast-charging stations. Also, with over 70% market share, it is the North American leader in Level 2 charging networks, which use 240-volt power. It expects sales of its charging ports to grow by seven times through 2026, as it expands in both the U.S. and Europe.</p>\n<p>Though the company came public through a special purpose acquisition company (SPAC), it's not a pre-revenue start-up. It reported sales of $146 million in its fiscal 2021, which ended Jan. 31. ChargePoint said it expects that to increase by 37% to $200 million at the midpoint of its fiscal 2022 guidance.</p>\n<p>That level of revenue still values the company at a very lofty 30 times sales. But it also gives management some credibility as it matches what the company presented prior to trading publicly. If those previous revenue estimates hold for calendar year 2022, the valuation drops to 18 on aprice-to-salesbasis.</p>\n<p>With a suite of products that caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities, an EV boom gives ChargePoint the ability to accelerate growth to justify its valuation looking ahead several years. Growth in the sector looks imminent. Major automakers have set goals and timelines for becoming virtually all-electric. An added catalyst in the U.S. could come from infrastructure spending that President Biden has proposed to help install 500,000 new charging stations.</p>\n<p>The need for much more EV charging infrastructure is clearly coming, and ChargePoint is in a prime position to supply it. Investors just need to be patient and only allocate money that belongs in the high-risk portion of a portfolio.</p>\n<p>Leading the next-generation energy grid</p>\n<p><b>Daniel Foelber&nbsp;(NextEra Energy):</b>As North America's largest producer of wind and solar energy, NextEra is ready to support the EV boom bysupplying the grid with clean energy. The environmental impact of widespread EV adoption paired with a nationwide charging network is reduced if the majority of electricity is derived from fossil fuels. This is where utilities can make a difference.</p>\n<p>NextEra is certainly not the only utility that is investing in renewables, but it has arguably beenthe most aggressive. The company's renewable division, NextEra Energy Resources (NEER), finished 2020 with around 23.9 gigawatts (GW) of generation capacity. In its first-quarter conference call, NextEra reported that NEER now has a backlog of 15.25 GW, meaning plenty of new projects are in the works.</p>\n<p>NextEra has grown to become the largest U.S.-based utility by market cap. The secret sauce? An ability to harness its existing leading position in Florida -- through Florida Power and Light -- along with debt to fund new capacity. Although around 70% of FPL's power comes from natural gas, it has 2.64 GW of solar projects and expects to add 3.8 GW over the next four years. It also added 70 new EV charging ports in the first quarter of 2021, bringing its total to 400. It plans to install 600 more charging ports by 2022.</p>\n<p>The company's growth rate is impressive, but it has come at a hefty price. The past few years have seen stagnating revenue and net income -- along with a sharp rise in capital expenditures -- which has led to massive cash outflows on the investing side.<img src=\"https://static.tigerbbs.com/6dec6b5cbc37e8128029fbf46b4251cd\" tg-width=\"720\" tg-height=\"513\" referrerpolicy=\"no-referrer\"></p>\n<p>NEE REVENUE (ANNUAL)DATA BYYCHARTS</p>\n<p>Investors have welcomed this strategy, as NextEra outperformed the<b>S&amp;P 500</b>and the utility sector over the past three, five, and 10-year periods. Given the spending patterns of its competitors, NextEra is showing no signs of losing its lead over its peers. Many renewable operators haveprojects in the works, but none combine<i>both</i>the existing and planned capacity of NextEra Energy.</p>\n<p>Ride the EV tailwinds</p>\n<p>Growth in electric vehicle sales could change a lot of the energy industry, and investors will want to make sure they're riding the tailwinds of the EV trend, not fighting them. These three stocks should do well as EV sales grow, and that's why they're top picks for us today.</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>3 Companies That Will Directly Benefit From an EV Boom</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 Companies That Will Directly Benefit From an EV Boom\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-06 10:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/05/05/3-companies-that-will-directly-benefit-from-an-ev/><strong>The motley fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>As electric vehicle (EV) sales rise around the world, there will be a number of industries that directly benefit from the change in energy consumption. Electricity consumption could rise, millions of ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/05/05/3-companies-that-will-directly-benefit-from-an-ev/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NEE":"新纪元能源","SPWR":"SunPower","CHPT":"ChargePoint Holdings Inc."},"source_url":"https://www.fool.com/investing/2021/05/05/3-companies-that-will-directly-benefit-from-an-ev/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1148728757","content_text":"As electric vehicle (EV) sales rise around the world, there will be a number of industries that directly benefit from the change in energy consumption. Electricity consumption could rise, millions of EV chargers will be needed, and there will be a huge demand for raw materials.\nThese businesses adjacent to EV manufacturing have become appealing becauseEV stockstrade for incredibly high price-to-sales multiples, or multi-billion dollar valuations for pre-revenue companies. And if you're looking for stocks that will directly benefit from EV growth, we thinkSunPower(NASDAQ:SPWR),ChargePoint Holdings(NYSE:CHPT), andNextEra Energy(NYSE:NEE)will be some of the biggest beneficiaries.\nThe complete energy solution\nTravis Hoium(SunPower):Rooftop solar and electric vehicles aren't directly related, but they serve a similar customer base, and it's well known that EV owners are far more likely to have rooftop solar than the general population and vice versa. What SunPower is doing is trying to leverage its position in the energy industry to become a full energy services company, including charging of electric vehicles.\nSunPower's strategy starts with rooftop solar panels, but the addition of energy storage to the home energy system is really the key. Storage allows SunPower to control when a home or electric vehicle is pulling power from the grid, when power is coming from solar panels, and when energy is stored or discharged. This will allow a homeowner to choose to \"fuel\" their EV with only homemade solar electricity or even use the EV as an additional battery pack for backup power.\nBased on historic trends, if EV sales grow at the rate manufacturers and industry observers expect, we would expect to see asharp rise in rooftop solarbeing installed as well. That will be a big tailwind for SunPower, and with the company moving into energy storage and complete smart home power solutions, this could be a growth stock for years to come.\nIn need of infrastructure\nHoward Smith(ChargePoint Holdings):There will be winners and losers among the growing number of electric vehicle manufacturers. Regardless of which vehicle supplier prospers from an EV boom, though, significantly more charging infrastructure will be needed. ChargePoint has a comprehensive network of offerings that includes more than 2,000 publicly available fast-charging stations. Also, with over 70% market share, it is the North American leader in Level 2 charging networks, which use 240-volt power. It expects sales of its charging ports to grow by seven times through 2026, as it expands in both the U.S. and Europe.\nThough the company came public through a special purpose acquisition company (SPAC), it's not a pre-revenue start-up. It reported sales of $146 million in its fiscal 2021, which ended Jan. 31. ChargePoint said it expects that to increase by 37% to $200 million at the midpoint of its fiscal 2022 guidance.\nThat level of revenue still values the company at a very lofty 30 times sales. But it also gives management some credibility as it matches what the company presented prior to trading publicly. If those previous revenue estimates hold for calendar year 2022, the valuation drops to 18 on aprice-to-salesbasis.\nWith a suite of products that caters to the needs of EV fleet owners, parking operators, and consumers, as well as corporations and municipalities, an EV boom gives ChargePoint the ability to accelerate growth to justify its valuation looking ahead several years. Growth in the sector looks imminent. Major automakers have set goals and timelines for becoming virtually all-electric. An added catalyst in the U.S. could come from infrastructure spending that President Biden has proposed to help install 500,000 new charging stations.\nThe need for much more EV charging infrastructure is clearly coming, and ChargePoint is in a prime position to supply it. Investors just need to be patient and only allocate money that belongs in the high-risk portion of a portfolio.\nLeading the next-generation energy grid\nDaniel Foelber (NextEra Energy):As North America's largest producer of wind and solar energy, NextEra is ready to support the EV boom bysupplying the grid with clean energy. The environmental impact of widespread EV adoption paired with a nationwide charging network is reduced if the majority of electricity is derived from fossil fuels. This is where utilities can make a difference.\nNextEra is certainly not the only utility that is investing in renewables, but it has arguably beenthe most aggressive. The company's renewable division, NextEra Energy Resources (NEER), finished 2020 with around 23.9 gigawatts (GW) of generation capacity. In its first-quarter conference call, NextEra reported that NEER now has a backlog of 15.25 GW, meaning plenty of new projects are in the works.\nNextEra has grown to become the largest U.S.-based utility by market cap. The secret sauce? An ability to harness its existing leading position in Florida -- through Florida Power and Light -- along with debt to fund new capacity. Although around 70% of FPL's power comes from natural gas, it has 2.64 GW of solar projects and expects to add 3.8 GW over the next four years. It also added 70 new EV charging ports in the first quarter of 2021, bringing its total to 400. It plans to install 600 more charging ports by 2022.\nThe company's growth rate is impressive, but it has come at a hefty price. The past few years have seen stagnating revenue and net income -- along with a sharp rise in capital expenditures -- which has led to massive cash outflows on the investing side.\nNEE REVENUE (ANNUAL)DATA BYYCHARTS\nInvestors have welcomed this strategy, as NextEra outperformed theS&P 500and the utility sector over the past three, five, and 10-year periods. Given the spending patterns of its competitors, NextEra is showing no signs of losing its lead over its peers. Many renewable operators haveprojects in the works, but none combineboththe existing and planned capacity of NextEra Energy.\nRide the EV tailwinds\nGrowth in electric vehicle sales could change a lot of the energy industry, and investors will want to make sure they're riding the tailwinds of the EV trend, not fighting them. These three stocks should do well as EV sales grow, and that's why they're top picks for us today.","news_type":1},"isVote":1,"tweetType":1,"viewCount":140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":106882051,"gmtCreate":1620101933073,"gmtModify":1704338678100,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Buy buy buy.","listText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Buy buy buy.","text":"$Trulieve Cannabis Corporation(TCNNF)$Buy buy buy.","images":[{"img":"https://static.tigerbbs.com/28346e4e6315ff24b899f750d8bd319e","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/106882051","isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":100942762,"gmtCreate":1619576684256,"gmtModify":1704726220621,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"What is your opinion guys?","listText":"What is your opinion guys?","text":"What is your opinion guys?","images":[{"img":"https://static.tigerbbs.com/ec7ef39f053c035942778e81137322e3","width":"1125","height":"3352"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/100942762","isVote":1,"tweetType":1,"viewCount":204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":377228604,"gmtCreate":1619531548708,"gmtModify":1704725520761,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Buy buy","listText":"Buy buy","text":"Buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/377228604","repostId":"1161810404","repostType":4,"isVote":1,"tweetType":1,"viewCount":369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377223259,"gmtCreate":1619531446471,"gmtModify":1704725518984,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Buy or watch?","listText":"Buy or watch?","text":"Buy or watch?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/377223259","repostId":"1118284851","repostType":4,"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374368207,"gmtCreate":1619420302409,"gmtModify":1704723561339,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>[Miser]&nbsp;","listText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>[Miser]&nbsp;","text":"$Bionano Genomics(BNGO)$[Miser]","images":[{"img":"https://static.tigerbbs.com/88a6e5e2762a02198f6cc39670a45cad","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/374368207","isVote":1,"tweetType":1,"viewCount":249,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":372435127,"gmtCreate":1619232588469,"gmtModify":1704721618380,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Is it good entry in this range?","listText":"Is it good entry in this range?","text":"Is it good entry in this range?","images":[{"img":"https://static.tigerbbs.com/a51ba00158827001e79bed3e4246be7c","width":"1125","height":"3525"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372435127","isVote":1,"tweetType":1,"viewCount":202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":372012586,"gmtCreate":1619157438445,"gmtModify":1704720536489,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Thinking to add some","listText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Thinking to add some","text":"$Trulieve Cannabis Corporation(TCNNF)$Thinking to add some","images":[{"img":"https://static.tigerbbs.com/1d85323479ec23dfadc686f5d5435b50","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372012586","isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":372018791,"gmtCreate":1619157254913,"gmtModify":1704720533696,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Is it good entry?","listText":"Is it good entry?","text":"Is it good entry?","images":[{"img":"https://static.tigerbbs.com/03e9f28763cef7005a007f23555904af","width":"1125","height":"3266"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372018791","isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":327313638,"gmtCreate":1616058462524,"gmtModify":1704790332183,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>safe bet","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>safe bet","text":"$Tiger Brokers(TIGR)$safe bet","images":[{"img":"https://static.tigerbbs.com/31ffb00d9ddbebb856bee4ba793979b3","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/327313638","isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3563421686188310","authorId":"3563421686188310","name":"Hopehope赋予希望","avatar":"https://community-static.tradeup.com/news/46495f44529967f5d3b4d03a47167f5b","crmLevel":9,"crmLevelSwitch":1,"idStr":"3563421686188310","authorIdStr":"3563421686188310"},"content":"I personally feel that at a price around 20 to 24, its a safe bet as long as the management continues to deliver. I didnt use leverage. Using leverage may weaken position when volatility surges","text":"I personally feel that at a price around 20 to 24, its a safe bet as long as the management continues to deliver. I didnt use leverage. Using leverage may weaken position when volatility surges","html":"I personally feel that at a price around 20 to 24, its a safe bet as long as the management continues to deliver. I didnt use leverage. Using leverage may weaken position when volatility surges"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":324832963,"gmtCreate":1615981179552,"gmtModify":1704789247118,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Tell me your opinion about this news...","listText":"Tell me your opinion about this news...","text":"Tell me your opinion about this news...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324832963","repostId":"1138302707","repostType":4,"repost":{"id":"1138302707","kind":"news","pubTimestamp":1615975204,"share":"https://ttm.financial/m/news/1138302707?lang=&edition=fundamental","pubTime":"2021-03-17 18:00","market":"us","language":"en","title":"Apple Vs. Facebook: The Battle Over Privacy Heats Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1138302707","media":"The Street","summary":"The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, ","content":"<p>The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, Epic Games)for alleged antitrust practices, now the companies are fighting among themselves.</p>\n<p>Soon, Apple will push its iOS update to the iPhone. In the new version of the software, users will be given an option to opt out of sharing personal data with the likes of Facebook and Alphabet, a feature known as ATT, or App Tracking Transparency. The media giants currently use this information to personalize ads – and to make loads of money.</p>\n<p><b>The opening arguments</b></p>\n<p>Apple’s CEO Tim Cook believes that giving users the option to control their data is the right thing to do. He explained why on Twitter (which, by the way, would likely also be hurt by the upcoming changes):</p>\n<p><img src=\"https://static.tigerbbs.com/6cc84f28b94d055192f9a8d7f825537e\" tg-width=\"569\" tg-height=\"298\">The move seems timely, especially during times of rampant polarization and misinformation campaigns. But Facebookthinksotherwise. According to the Menlo Park company, personalization powers discovery. It helps to match demand with supply, thus supporting small businesses.</p>\n<p>Here is what the owner of a gourmet burger restaurant in South CarolinatoldNPR, a case that supports Facebook in its argument:</p>\n<blockquote>\n “Ninety percent of our customers are finding us because of Facebook, because of those personalized ads. So, if something were to disrupt that, it's going to be a problem.”\n</blockquote>\n<p>Facebook even went meta, and recently started an ad campaign about… ad campaigns. Check it out:</p>\n<p><b>The battle of the gatekeepers</b></p>\n<p>Both Apple and Facebook claim the moral higher ground when defending their positions in the battle over users’ privacy. Apple sees itself as the protector of information, while Facebook claims to be the force for good that uses the data in the best manner possible for its audience.</p>\n<p>But in reality, the business motives behind the debate speak louder.</p>\n<p>Should Apple move forward with the iOS update as planned, smartphone users could be attracted to the privacy feature, which would bode well for the iPhone itself. Should Facebook succeed at stopping or limiting the changes, the media company would benefit from its ability to offer its consumers (i.e. advertisers) a better product.</p>\n<p>It is unclear what will happen in this Goliath vs. Goliath fight to be the strongest gatekeeper in Big Tech. Apple has proven to be somewhat accommodative in other battles, when itlowered its App Store commission to smaller developers, in the face of antitrust scrutiny. This time, Cook &amp; Co. seem more adamant.</p>\n<p>It is also unclear whether Facebook can summon enough support from other tech companies and/or even regulatory agencies to strengthen its case. At stake could be a 7%hitto Facebook’s revenues, which would amount to a hefty $6 billion per year.</p>\n<p><b>Twitter speaks</b></p>\n<p>Here is an interesting question: if given the option, would users choose to share their information with Facebook or Alphabet for ad purposes? I suspected that the answers would be overwhelmingly “no”. Check out the Twitter poll below.</p>\n<p><img src=\"https://static.tigerbbs.com/5c79d60c2138639c6f00171016697877\" tg-width=\"562\" tg-height=\"394\"></p>","source":"lsy1610613172068","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>Apple Vs. Facebook: The Battle Over Privacy Heats 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\">\nApple Vs. Facebook: The Battle Over Privacy Heats Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-17 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/news/apple-vs-facebook-the-battle-over-privacy-heats-up><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, Epic Games)for alleged antitrust practices, now the companies are fighting among themselves.\nSoon, ...</p>\n\n<a href=\"https://www.thestreet.com/apple/news/apple-vs-facebook-the-battle-over-privacy-heats-up\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/news/apple-vs-facebook-the-battle-over-privacy-heats-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138302707","content_text":"The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, Epic Games)for alleged antitrust practices, now the companies are fighting among themselves.\nSoon, Apple will push its iOS update to the iPhone. In the new version of the software, users will be given an option to opt out of sharing personal data with the likes of Facebook and Alphabet, a feature known as ATT, or App Tracking Transparency. The media giants currently use this information to personalize ads – and to make loads of money.\nThe opening arguments\nApple’s CEO Tim Cook believes that giving users the option to control their data is the right thing to do. He explained why on Twitter (which, by the way, would likely also be hurt by the upcoming changes):\nThe move seems timely, especially during times of rampant polarization and misinformation campaigns. But Facebookthinksotherwise. According to the Menlo Park company, personalization powers discovery. It helps to match demand with supply, thus supporting small businesses.\nHere is what the owner of a gourmet burger restaurant in South CarolinatoldNPR, a case that supports Facebook in its argument:\n\n “Ninety percent of our customers are finding us because of Facebook, because of those personalized ads. So, if something were to disrupt that, it's going to be a problem.”\n\nFacebook even went meta, and recently started an ad campaign about… ad campaigns. Check it out:\nThe battle of the gatekeepers\nBoth Apple and Facebook claim the moral higher ground when defending their positions in the battle over users’ privacy. Apple sees itself as the protector of information, while Facebook claims to be the force for good that uses the data in the best manner possible for its audience.\nBut in reality, the business motives behind the debate speak louder.\nShould Apple move forward with the iOS update as planned, smartphone users could be attracted to the privacy feature, which would bode well for the iPhone itself. Should Facebook succeed at stopping or limiting the changes, the media company would benefit from its ability to offer its consumers (i.e. advertisers) a better product.\nIt is unclear what will happen in this Goliath vs. Goliath fight to be the strongest gatekeeper in Big Tech. Apple has proven to be somewhat accommodative in other battles, when itlowered its App Store commission to smaller developers, in the face of antitrust scrutiny. This time, Cook & Co. seem more adamant.\nIt is also unclear whether Facebook can summon enough support from other tech companies and/or even regulatory agencies to strengthen its case. At stake could be a 7%hitto Facebook’s revenues, which would amount to a hefty $6 billion per year.\nTwitter speaks\nHere is an interesting question: if given the option, would users choose to share their information with Facebook or Alphabet for ad purposes? I suspected that the answers would be overwhelmingly “no”. Check out the Twitter poll below.","news_type":1},"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324838198,"gmtCreate":1615981002714,"gmtModify":1704789244190,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"It’s a beast","listText":"It’s a beast","text":"It’s a beast","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324838198","repostId":"2120855851","repostType":4,"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":327313638,"gmtCreate":1616058462524,"gmtModify":1704790332183,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>safe bet","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>safe bet","text":"$Tiger Brokers(TIGR)$safe bet","images":[{"img":"https://static.tigerbbs.com/31ffb00d9ddbebb856bee4ba793979b3","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/327313638","isVote":1,"tweetType":1,"viewCount":358,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3563421686188310","authorId":"3563421686188310","name":"Hopehope赋予希望","avatar":"https://community-static.tradeup.com/news/46495f44529967f5d3b4d03a47167f5b","crmLevel":9,"crmLevelSwitch":1,"idStr":"3563421686188310","authorIdStr":"3563421686188310"},"content":"I personally feel that at a price around 20 to 24, its a safe bet as long as the management continues to deliver. I didnt use leverage. Using leverage may weaken position when volatility surges","text":"I personally feel that at a price around 20 to 24, its a safe bet as long as the management continues to deliver. I didnt use leverage. Using leverage may weaken position when volatility surges","html":"I personally feel that at a price around 20 to 24, its a safe bet as long as the management continues to deliver. I didnt use leverage. Using leverage may weaken position when volatility surges"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":377228604,"gmtCreate":1619531548708,"gmtModify":1704725520761,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Buy buy","listText":"Buy buy","text":"Buy buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/377228604","repostId":"1161810404","repostType":4,"repost":{"id":"1161810404","kind":"news","pubTimestamp":1619527994,"share":"https://ttm.financial/m/news/1161810404?lang=&edition=fundamental","pubTime":"2021-04-27 20:53","market":"us","language":"en","title":"What's The Real Story Of Tesla In China?","url":"https://stock-news.laohu8.com/highlight/detail?id=1161810404","media":"ZeroHedge","summary":"What’s really going on for Tesla in China? Global supply chains remain fragile as the Chinese flex t","content":"<p><b><i>What’s really going on for Tesla in China? Global supply chains remain fragile as the Chinese flex their muscles and national buying power. That may prove problematic for western firms, and especially Tesla. But also it raises questions about investment imperatives on China growth vs flatline in the West.</i></b></p>\n<p>There is lots to be positive about this morning. The first headline to catch my eye was a prediction from Goldman Sachs raising their target to 7.8% UK growth in 2021 – up from the 5% consensus. Great stuff! A colleague sent me the FT’s analysis of the&nbsp;Pandemic end-game: 5.2% people have been infected last week, but vaccines are clearly working and saving lives. And there are some spectacular company results hitting the screens.</p>\n<p>But across the globe supply chain ructions continue. Jaguar Land Rover has shut down a number of factories over the global shortage of chips. There are warning of everything from autos, fridges, toasters to airplanes being delayed due to apparent hoarding by Chinese manufacturers concerned about possible sanctions if the current cold war heats up.</p>\n<ul>\n <li><p>We have a global explosion of repressed consumer spending set to hit the market.</p></li>\n <li><p>There is a global shortage of goods. (I know this – it looks like our new kitchen will have a wine-chiller shaped gap due to the lack of supply! Shocking…. Simply shocking…)</p></li>\n <li><p>There is the threat of further supply shocks on the back of rising trade and cold-war ructions.</p></li>\n</ul>\n<p><b>The world is less stable than we hope. And it boils down to a very simple question. What’s really happening in China?</b>That, I suspect, is the critical factor when it comes to predicting just how strong pandemic recovery will be, or how constrained it may become.</p>\n<p>I saw a headline flash by this morning anticipating Apple iPhone China sales fell in March as sales of new domestic smart-phones kicked in. According to&nbsp;Seeking Alpha&nbsp;high China sales in Jan/Feb have reversed despite the success of the new iPhone 12. (Apple numbers are tomorrow.) Why would China sales fall? Is it because Chinese consumers are increasingly persuaded to buy home-grown product, fuelled by a patriotic duty to do so?</p>\n<p><b>Tesla is finding itself on the receiving end of pointed official China criticism</b>– and Musk (surprisingly) has bowed his head and promised to do better. The headlines about a US Tesla crash where there is a dispute about whether anyone was actually driving is just noise and distraction. The real story is the future for Tesla demand in China.</p>\n<p>If Tesla was criticised in the US for shoddy servicing, poor customer care, and was accused of breaching privacy rules with car mounted cameras, you can bet Musk would be screaming obscenities, appearing on prime time TV smoking a joint to tell us regulators are idiots, and that the press knows nothing. Allegations of customer dissatisfaction would be steamrollered by a barrage of Tesla Fanboy hate posts and denials refusing to discuss the matter.</p>\n<p>But, when Tesla gets accused of the same failings in China – suddenly Musk does the right thing and kow-tows, promising to do better. Musk is beginning to understand that displaying “sincerity” in China means doing exactly what the state tells him to do.</p>\n<p><b>Tesla is walking a very thin line in China</b>– and Elon knows it. On one hand, he’s bet the shop on promises the EV maker will deliver big into China. On the other, the recent Shanghai Motor Show featured a couple of Teslas, but, more importantly, a vast number of sophisticated Chinese new models EVs set for launch in the coming year.</p>\n<p>Musk may soon realise the Chinese might just have played him for a chump – supporting and financing his gigafactory build to get EVs established in the Chinese consumer mindset, while also conclusively demonstrating to the Chinese autofirms the foreign rival products they have to beat.</p>\n<p>And since we’re talking about Tesla, let’s get off the China theme for a moment, and think about the results it announced y’day: Congratulations to them for beating Q1 expectations. Net income of $438mm, revenues up 74% and 185,000 cars delivered.</p>\n<p><i><b>But… all that glitters is not revenue from car sales… Let’s see… what did the results really tell us? That profit was based on $518 mm of regulatory credit sales and a $101 positive gain from its Bitcoin position and sales. Strip these out and… and Telsa lost $181mm selling cars.</b></i></p>\n<p>To this day I don’t believe Tesla has made a single brass cent selling cars, yet the purveyor of fine regulatory credits and dabbler in cryptocurrencies has made its owner the second richest man on the planet. (And yes.. I still hold a small position in the stock.)</p>\n<p>More importantly, the Q1 results show Musk is caught between the proverbial rock and river. He knows winning in China is critical for his evolved EV scheme.</p>\n<p><b>Ok – calling Tesla a pyramid scheme is harsh, but Musk knows he needs to keep up the positive news flow; continually demonstrating Telsa’s lead in EV, increasing his production numbers, upping the profits and feeding a never-ending stream of positive spin (like autonomous driving tomorrow – always tomorrow). Without the positive spin driving Tesla marketing and keeping up the stock-price, how will he continue to attract new buyers while persuading current investors to HODL! (Crypto-verse speak for “hold on for dear life”).</b></p>\n<p>There is a big missed theme around Tesla – competition.</p>\n<p><b>Their EV tech moat is shallow.</b>Today, the firm is still ahead in EV terms of consumer deliverables like quality, range, handling etc, but the rest of the Automotive world; from Tokyo to Munich, from Shanghai to Detroit is playing catch up fast.</p>\n<p><b>Going back to China, the party is very keen to see domestic producers not only dominated the China market, but to establish themselves abroad.</b>That’s as true in EVs as it will be in Smart-phones, fridges and all the other paraphernalia of modern life…</p>\n<p>Let, me stir this a bit more. Should you bite the moral bullet and buy HSBC? The potential downside is its engaging with China – but its China that makes the bank so valuable. HSBC is a good illustration of the China conundrum.</p>\n<p>The geopolitical tensions look high. There are few signs the US and China will reach anything better than a new cold war which is bound to further roil supply chains. There are a surprising number of articles around on how the newly empowered Chinese navy is set to take on American carrier task forces over Taiwan – and hammer them with land-based hyper-missiles. (None of this bodes well for the&nbsp;Big-Lizzie UK carrier strike group&nbsp;heading to the region this summer.)</p>\n<p>The moral arguments against any China investment can’t be ignored. The treatment of the Uyghurs, surveillance, Tibet and the rest are difficult to square with any ESG investment mandate.</p>\n<p>China critics will point to the case of Jack Ma and issues of the rule law as further reasons to remain shy of China investors. But its only by fully embracing capitalism and the market economy model – with Chinese Characteristics – the Chinese have been able to so successfully grow their economy and take it through its earlier export-led model to today’s consumption-led economy. The Chinese want their luxury and consumer goods, just like the rest of us.</p>\n<p>The next couple of months are going to be fascinated in terms of how the China story develops. Trade Wars, its own internal markets, Patriotic buying programmes, and Geopolitics will all feature. At this point, remember my mantra no 4:&nbsp;<b>“Things are seldom as bad as you fear, but never as good as you hope!”</b></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>What's The Real Story Of Tesla In China?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat's The Real Story Of Tesla In China?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-27 20:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/whats-real-story-tesla-china><strong>ZeroHedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>What’s really going on for Tesla in China? Global supply chains remain fragile as the Chinese flex their muscles and national buying power. That may prove problematic for western firms, and especially...</p>\n\n<a href=\"https://www.zerohedge.com/markets/whats-real-story-tesla-china\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.zerohedge.com/markets/whats-real-story-tesla-china","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1161810404","content_text":"What’s really going on for Tesla in China? Global supply chains remain fragile as the Chinese flex their muscles and national buying power. That may prove problematic for western firms, and especially Tesla. But also it raises questions about investment imperatives on China growth vs flatline in the West.\nThere is lots to be positive about this morning. The first headline to catch my eye was a prediction from Goldman Sachs raising their target to 7.8% UK growth in 2021 – up from the 5% consensus. Great stuff! A colleague sent me the FT’s analysis of the Pandemic end-game: 5.2% people have been infected last week, but vaccines are clearly working and saving lives. And there are some spectacular company results hitting the screens.\nBut across the globe supply chain ructions continue. Jaguar Land Rover has shut down a number of factories over the global shortage of chips. There are warning of everything from autos, fridges, toasters to airplanes being delayed due to apparent hoarding by Chinese manufacturers concerned about possible sanctions if the current cold war heats up.\n\nWe have a global explosion of repressed consumer spending set to hit the market.\nThere is a global shortage of goods. (I know this – it looks like our new kitchen will have a wine-chiller shaped gap due to the lack of supply! Shocking…. Simply shocking…)\nThere is the threat of further supply shocks on the back of rising trade and cold-war ructions.\n\nThe world is less stable than we hope. And it boils down to a very simple question. What’s really happening in China?That, I suspect, is the critical factor when it comes to predicting just how strong pandemic recovery will be, or how constrained it may become.\nI saw a headline flash by this morning anticipating Apple iPhone China sales fell in March as sales of new domestic smart-phones kicked in. According to Seeking Alpha high China sales in Jan/Feb have reversed despite the success of the new iPhone 12. (Apple numbers are tomorrow.) Why would China sales fall? Is it because Chinese consumers are increasingly persuaded to buy home-grown product, fuelled by a patriotic duty to do so?\nTesla is finding itself on the receiving end of pointed official China criticism– and Musk (surprisingly) has bowed his head and promised to do better. The headlines about a US Tesla crash where there is a dispute about whether anyone was actually driving is just noise and distraction. The real story is the future for Tesla demand in China.\nIf Tesla was criticised in the US for shoddy servicing, poor customer care, and was accused of breaching privacy rules with car mounted cameras, you can bet Musk would be screaming obscenities, appearing on prime time TV smoking a joint to tell us regulators are idiots, and that the press knows nothing. Allegations of customer dissatisfaction would be steamrollered by a barrage of Tesla Fanboy hate posts and denials refusing to discuss the matter.\nBut, when Tesla gets accused of the same failings in China – suddenly Musk does the right thing and kow-tows, promising to do better. Musk is beginning to understand that displaying “sincerity” in China means doing exactly what the state tells him to do.\nTesla is walking a very thin line in China– and Elon knows it. On one hand, he’s bet the shop on promises the EV maker will deliver big into China. On the other, the recent Shanghai Motor Show featured a couple of Teslas, but, more importantly, a vast number of sophisticated Chinese new models EVs set for launch in the coming year.\nMusk may soon realise the Chinese might just have played him for a chump – supporting and financing his gigafactory build to get EVs established in the Chinese consumer mindset, while also conclusively demonstrating to the Chinese autofirms the foreign rival products they have to beat.\nAnd since we’re talking about Tesla, let’s get off the China theme for a moment, and think about the results it announced y’day: Congratulations to them for beating Q1 expectations. Net income of $438mm, revenues up 74% and 185,000 cars delivered.\nBut… all that glitters is not revenue from car sales… Let’s see… what did the results really tell us? That profit was based on $518 mm of regulatory credit sales and a $101 positive gain from its Bitcoin position and sales. Strip these out and… and Telsa lost $181mm selling cars.\nTo this day I don’t believe Tesla has made a single brass cent selling cars, yet the purveyor of fine regulatory credits and dabbler in cryptocurrencies has made its owner the second richest man on the planet. (And yes.. I still hold a small position in the stock.)\nMore importantly, the Q1 results show Musk is caught between the proverbial rock and river. He knows winning in China is critical for his evolved EV scheme.\nOk – calling Tesla a pyramid scheme is harsh, but Musk knows he needs to keep up the positive news flow; continually demonstrating Telsa’s lead in EV, increasing his production numbers, upping the profits and feeding a never-ending stream of positive spin (like autonomous driving tomorrow – always tomorrow). Without the positive spin driving Tesla marketing and keeping up the stock-price, how will he continue to attract new buyers while persuading current investors to HODL! (Crypto-verse speak for “hold on for dear life”).\nThere is a big missed theme around Tesla – competition.\nTheir EV tech moat is shallow.Today, the firm is still ahead in EV terms of consumer deliverables like quality, range, handling etc, but the rest of the Automotive world; from Tokyo to Munich, from Shanghai to Detroit is playing catch up fast.\nGoing back to China, the party is very keen to see domestic producers not only dominated the China market, but to establish themselves abroad.That’s as true in EVs as it will be in Smart-phones, fridges and all the other paraphernalia of modern life…\nLet, me stir this a bit more. Should you bite the moral bullet and buy HSBC? The potential downside is its engaging with China – but its China that makes the bank so valuable. HSBC is a good illustration of the China conundrum.\nThe geopolitical tensions look high. There are few signs the US and China will reach anything better than a new cold war which is bound to further roil supply chains. There are a surprising number of articles around on how the newly empowered Chinese navy is set to take on American carrier task forces over Taiwan – and hammer them with land-based hyper-missiles. (None of this bodes well for the Big-Lizzie UK carrier strike group heading to the region this summer.)\nThe moral arguments against any China investment can’t be ignored. The treatment of the Uyghurs, surveillance, Tibet and the rest are difficult to square with any ESG investment mandate.\nChina critics will point to the case of Jack Ma and issues of the rule law as further reasons to remain shy of China investors. But its only by fully embracing capitalism and the market economy model – with Chinese Characteristics – the Chinese have been able to so successfully grow their economy and take it through its earlier export-led model to today’s consumption-led economy. The Chinese want their luxury and consumer goods, just like the rest of us.\nThe next couple of months are going to be fascinated in terms of how the China story develops. Trade Wars, its own internal markets, Patriotic buying programmes, and Geopolitics will all feature. At this point, remember my mantra no 4: “Things are seldom as bad as you fear, but never as good as you hope!”","news_type":1},"isVote":1,"tweetType":1,"viewCount":369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":377223259,"gmtCreate":1619531446471,"gmtModify":1704725518984,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Buy or watch?","listText":"Buy or watch?","text":"Buy or watch?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/377223259","repostId":"1118284851","repostType":4,"repost":{"id":"1118284851","kind":"news","pubTimestamp":1619486023,"share":"https://ttm.financial/m/news/1118284851?lang=&edition=fundamental","pubTime":"2021-04-27 09:13","market":"us","language":"en","title":"Alphabet Reports Earnings Tuesday. Here Is What to Expect.","url":"https://stock-news.laohu8.com/highlight/detail?id=1118284851","media":"Barrons","summary":"With the digital advertising market in recovery across all industries, Alphabet will likely benefit when it reports first-quarter earnings Tuesday.Yet, after a powerful fourth-quarter, expectations for Alphabet  have ratcheted up considerably.The consensus adjusted earnings estimate has jumped nearly 15% since January, now clocking in at $18.05 a share. Analyst revenue expectations have increased roughly 5% since January, with the current expectation at $42.48 billion, excluding traffic acquisit","content":"<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/27f6b1c075346da3bdbc11535996e584\" tg-width=\"1260\" tg-height=\"840\"><span>Drew Angerer/Getty Images</span></p>\n<p>With the digital advertising market in recovery across all industries, Alphabet will likely benefit when it reports first-quarter earnings Tuesday.</p>\n<p>Yet, after a powerful fourth-quarter, expectations for Alphabet&nbsp;(ticker: GOOGL) have ratcheted up considerably.</p>\n<p>The consensus adjusted earnings estimate has jumped nearly 15% since January, now clocking in at $18.05 a share. Analyst revenue expectations have increased roughly 5% since January, with the current expectation at $42.48 billion, excluding traffic acquisitions costs, or TAC; with TAC, analysts model total revenue of $51.66 billion.</p>\n<p>Stifel analyst Scott Devitt&nbsp;wrote that his team expects another batch of strong results. He argued that third-party data and industry commentary suggest that paid search ads will benefit from retail and commerce spending, and some early rebounding travel dollars.</p>\n<p>In typical years, advertising company revenue shrinks in the first quarter, compared with the holidays. But this year, Devitt wrote the decline is expected to be less significant.</p>\n<p>Baird analyst Colin Sebastian&nbsp;wrote in a note that data collected by his team supports prospects for a strong online ad spending rebound through this year. According to his calculations, spending will increase 26% to just under $200 billion in the U.S. Alphabet is set to capture the most of, followed by Facebook&nbsp;(FB),&nbsp;and Amazon.com&nbsp;(AMZN).</p>\n<p>Snap&nbsp;reported better-than-forecast results for the first quarter last week, also supporting the idea that digital ad sales are rebounding quickly.</p>\n<p>MKM Partners analyst Rohit Kulkarni&nbsp;wrote that his team was “marginally cautious” in part because of the high expectations ahead of results. In the research note Kulkarni said his top questions include whether the company can accelerate YouTube revenue similar to other social media platforms. The consensus estimate for YouTube ad sales is $5.72 billion.</p>\n<p>In its fourth-quarter earnings, Alphabet broke out its cloud business as a separate reporting segment. Doing so gave investors the first opportunity to gauge its profitability, through its operating income or losses line item. Analysts had a mixed view of the operating losses it reported but it’s likely a positive sign the company started to make the disclosure.</p>\n<p>For the first quarter, analysts expect the company’s cloud computing segment to report revenue of $4.01 billion.</p>\n<p>Of the sell-side analysts that cover Alphabet, 95% rate shares a Buy, and 4.7% rate it a Hold. There are no Sell ratings on the stock. The average target price is $2,509.44, which implies upside of 8.6%.</p>\n<p>Alphabet Class A shares closed up 0.4% to $2,309.93. Shares of the company surged 81% in the past year as the S&amp;P 500 index advanced 48%.</p>\n<p>Alphabet is expected to report earnings after the closing bell Tuesday, and has scheduled a conference call for 5 p.m. Eastern time.</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>Alphabet Reports Earnings Tuesday. Here Is What to Expect.</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\">\nAlphabet Reports Earnings Tuesday. Here Is What to Expect.\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-27 09:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/alphabet-reports-earnings-tuesday-here-is-what-to-expect-51619473308?mod=hp_LATEST><strong>Barrons</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Drew Angerer/Getty Images\nWith the digital advertising market in recovery across all industries, Alphabet will likely benefit when it reports first-quarter earnings Tuesday.\nYet, after a powerful ...</p>\n\n<a href=\"https://www.barrons.com/articles/alphabet-reports-earnings-tuesday-here-is-what-to-expect-51619473308?mod=hp_LATEST\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GOOG":"谷歌","GOOGL":"谷歌A"},"source_url":"https://www.barrons.com/articles/alphabet-reports-earnings-tuesday-here-is-what-to-expect-51619473308?mod=hp_LATEST","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118284851","content_text":"Drew Angerer/Getty Images\nWith the digital advertising market in recovery across all industries, Alphabet will likely benefit when it reports first-quarter earnings Tuesday.\nYet, after a powerful fourth-quarter, expectations for Alphabet (ticker: GOOGL) have ratcheted up considerably.\nThe consensus adjusted earnings estimate has jumped nearly 15% since January, now clocking in at $18.05 a share. Analyst revenue expectations have increased roughly 5% since January, with the current expectation at $42.48 billion, excluding traffic acquisitions costs, or TAC; with TAC, analysts model total revenue of $51.66 billion.\nStifel analyst Scott Devitt wrote that his team expects another batch of strong results. He argued that third-party data and industry commentary suggest that paid search ads will benefit from retail and commerce spending, and some early rebounding travel dollars.\nIn typical years, advertising company revenue shrinks in the first quarter, compared with the holidays. But this year, Devitt wrote the decline is expected to be less significant.\nBaird analyst Colin Sebastian wrote in a note that data collected by his team supports prospects for a strong online ad spending rebound through this year. According to his calculations, spending will increase 26% to just under $200 billion in the U.S. Alphabet is set to capture the most of, followed by Facebook (FB), and Amazon.com (AMZN).\nSnap reported better-than-forecast results for the first quarter last week, also supporting the idea that digital ad sales are rebounding quickly.\nMKM Partners analyst Rohit Kulkarni wrote that his team was “marginally cautious” in part because of the high expectations ahead of results. In the research note Kulkarni said his top questions include whether the company can accelerate YouTube revenue similar to other social media platforms. The consensus estimate for YouTube ad sales is $5.72 billion.\nIn its fourth-quarter earnings, Alphabet broke out its cloud business as a separate reporting segment. Doing so gave investors the first opportunity to gauge its profitability, through its operating income or losses line item. Analysts had a mixed view of the operating losses it reported but it’s likely a positive sign the company started to make the disclosure.\nFor the first quarter, analysts expect the company’s cloud computing segment to report revenue of $4.01 billion.\nOf the sell-side analysts that cover Alphabet, 95% rate shares a Buy, and 4.7% rate it a Hold. There are no Sell ratings on the stock. The average target price is $2,509.44, which implies upside of 8.6%.\nAlphabet Class A shares closed up 0.4% to $2,309.93. Shares of the company surged 81% in the past year as the S&P 500 index advanced 48%.\nAlphabet is expected to report earnings after the closing bell Tuesday, and has scheduled a conference call for 5 p.m. Eastern time.","news_type":1},"isVote":1,"tweetType":1,"viewCount":379,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":187731446,"gmtCreate":1623764152385,"gmtModify":1703818594193,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Okay&nbsp;","listText":"Okay&nbsp;","text":"Okay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/187731446","repostId":"1191245053","repostType":4,"repost":{"id":"1191245053","kind":"news","pubTimestamp":1623762167,"share":"https://ttm.financial/m/news/1191245053?lang=&edition=fundamental","pubTime":"2021-06-15 21:02","market":"us","language":"en","title":"Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1191245053","media":"zerohedge","summary":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers .So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fis","content":"<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p>\n<p>So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p>\n<p><img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p>\n<p>Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p>\n<p><img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p>\n<p>It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p>\n<p><img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p>The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p>\n<p><img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p>\n<p><img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p>\n<p>Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p>\n<p><img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p>\n<p>Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p>\n<p><img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<p>One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p>\n<p>As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p>\n<p><img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p>\n<p>Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></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>Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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\">\nQuad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 21:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯","SPY":"标普500ETF",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191245053","content_text":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").\nSo picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.\n\nYet while these totals are massive,when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.\n\nIt's worth noting that according to Goldman estimates that combos accountfor 15-20% of SPX options,so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.\n\nThe Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPXrealized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.\n\nThis contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.\n\nThen, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees thatthe extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:the market will become much more volatile in a selloff.\n\nMeanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.\n\nOne final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.\nAs Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"\n\nWhy is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!","news_type":1},"isVote":1,"tweetType":1,"viewCount":227,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":374368207,"gmtCreate":1619420302409,"gmtModify":1704723561339,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>[Miser]&nbsp;","listText":"<a href=\"https://laohu8.com/S/BNGO\">$Bionano Genomics(BNGO)$</a>[Miser]&nbsp;","text":"$Bionano Genomics(BNGO)$[Miser]","images":[{"img":"https://static.tigerbbs.com/88a6e5e2762a02198f6cc39670a45cad","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/374368207","isVote":1,"tweetType":1,"viewCount":249,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":105138752,"gmtCreate":1620276575876,"gmtModify":1704341222288,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Watching patiently to a CHPT.","listText":"Watching patiently to a CHPT.","text":"Watching patiently to a CHPT.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/105138752","repostId":"1148728757","repostType":4,"isVote":1,"tweetType":1,"viewCount":140,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324832963,"gmtCreate":1615981179552,"gmtModify":1704789247118,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Tell me your opinion about this news...","listText":"Tell me your opinion about this news...","text":"Tell me your opinion about this news...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324832963","repostId":"1138302707","repostType":4,"repost":{"id":"1138302707","kind":"news","pubTimestamp":1615975204,"share":"https://ttm.financial/m/news/1138302707?lang=&edition=fundamental","pubTime":"2021-03-17 18:00","market":"us","language":"en","title":"Apple Vs. Facebook: The Battle Over Privacy Heats Up","url":"https://stock-news.laohu8.com/highlight/detail?id=1138302707","media":"The Street","summary":"The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, ","content":"<p>The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, Epic Games)for alleged antitrust practices, now the companies are fighting among themselves.</p>\n<p>Soon, Apple will push its iOS update to the iPhone. In the new version of the software, users will be given an option to opt out of sharing personal data with the likes of Facebook and Alphabet, a feature known as ATT, or App Tracking Transparency. The media giants currently use this information to personalize ads – and to make loads of money.</p>\n<p><b>The opening arguments</b></p>\n<p>Apple’s CEO Tim Cook believes that giving users the option to control their data is the right thing to do. He explained why on Twitter (which, by the way, would likely also be hurt by the upcoming changes):</p>\n<p><img src=\"https://static.tigerbbs.com/6cc84f28b94d055192f9a8d7f825537e\" tg-width=\"569\" tg-height=\"298\">The move seems timely, especially during times of rampant polarization and misinformation campaigns. But Facebookthinksotherwise. According to the Menlo Park company, personalization powers discovery. It helps to match demand with supply, thus supporting small businesses.</p>\n<p>Here is what the owner of a gourmet burger restaurant in South CarolinatoldNPR, a case that supports Facebook in its argument:</p>\n<blockquote>\n “Ninety percent of our customers are finding us because of Facebook, because of those personalized ads. So, if something were to disrupt that, it's going to be a problem.”\n</blockquote>\n<p>Facebook even went meta, and recently started an ad campaign about… ad campaigns. Check it out:</p>\n<p><b>The battle of the gatekeepers</b></p>\n<p>Both Apple and Facebook claim the moral higher ground when defending their positions in the battle over users’ privacy. Apple sees itself as the protector of information, while Facebook claims to be the force for good that uses the data in the best manner possible for its audience.</p>\n<p>But in reality, the business motives behind the debate speak louder.</p>\n<p>Should Apple move forward with the iOS update as planned, smartphone users could be attracted to the privacy feature, which would bode well for the iPhone itself. Should Facebook succeed at stopping or limiting the changes, the media company would benefit from its ability to offer its consumers (i.e. advertisers) a better product.</p>\n<p>It is unclear what will happen in this Goliath vs. Goliath fight to be the strongest gatekeeper in Big Tech. Apple has proven to be somewhat accommodative in other battles, when itlowered its App Store commission to smaller developers, in the face of antitrust scrutiny. This time, Cook &amp; Co. seem more adamant.</p>\n<p>It is also unclear whether Facebook can summon enough support from other tech companies and/or even regulatory agencies to strengthen its case. At stake could be a 7%hitto Facebook’s revenues, which would amount to a hefty $6 billion per year.</p>\n<p><b>Twitter speaks</b></p>\n<p>Here is an interesting question: if given the option, would users choose to share their information with Facebook or Alphabet for ad purposes? I suspected that the answers would be overwhelmingly “no”. Check out the Twitter poll below.</p>\n<p><img src=\"https://static.tigerbbs.com/5c79d60c2138639c6f00171016697877\" tg-width=\"562\" tg-height=\"394\"></p>","source":"lsy1610613172068","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>Apple Vs. Facebook: The Battle Over Privacy Heats 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\">\nApple Vs. Facebook: The Battle Over Privacy Heats Up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-17 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/news/apple-vs-facebook-the-battle-over-privacy-heats-up><strong>The Street</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, Epic Games)for alleged antitrust practices, now the companies are fighting among themselves.\nSoon, ...</p>\n\n<a href=\"https://www.thestreet.com/apple/news/apple-vs-facebook-the-battle-over-privacy-heats-up\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/news/apple-vs-facebook-the-battle-over-privacy-heats-up","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1138302707","content_text":"The gloves are off. While Big Tech keeps being hammered on many fronts (EU, US government, Spotify, Epic Games)for alleged antitrust practices, now the companies are fighting among themselves.\nSoon, Apple will push its iOS update to the iPhone. In the new version of the software, users will be given an option to opt out of sharing personal data with the likes of Facebook and Alphabet, a feature known as ATT, or App Tracking Transparency. The media giants currently use this information to personalize ads – and to make loads of money.\nThe opening arguments\nApple’s CEO Tim Cook believes that giving users the option to control their data is the right thing to do. He explained why on Twitter (which, by the way, would likely also be hurt by the upcoming changes):\nThe move seems timely, especially during times of rampant polarization and misinformation campaigns. But Facebookthinksotherwise. According to the Menlo Park company, personalization powers discovery. It helps to match demand with supply, thus supporting small businesses.\nHere is what the owner of a gourmet burger restaurant in South CarolinatoldNPR, a case that supports Facebook in its argument:\n\n “Ninety percent of our customers are finding us because of Facebook, because of those personalized ads. So, if something were to disrupt that, it's going to be a problem.”\n\nFacebook even went meta, and recently started an ad campaign about… ad campaigns. Check it out:\nThe battle of the gatekeepers\nBoth Apple and Facebook claim the moral higher ground when defending their positions in the battle over users’ privacy. Apple sees itself as the protector of information, while Facebook claims to be the force for good that uses the data in the best manner possible for its audience.\nBut in reality, the business motives behind the debate speak louder.\nShould Apple move forward with the iOS update as planned, smartphone users could be attracted to the privacy feature, which would bode well for the iPhone itself. Should Facebook succeed at stopping or limiting the changes, the media company would benefit from its ability to offer its consumers (i.e. advertisers) a better product.\nIt is unclear what will happen in this Goliath vs. Goliath fight to be the strongest gatekeeper in Big Tech. Apple has proven to be somewhat accommodative in other battles, when itlowered its App Store commission to smaller developers, in the face of antitrust scrutiny. This time, Cook & Co. seem more adamant.\nIt is also unclear whether Facebook can summon enough support from other tech companies and/or even regulatory agencies to strengthen its case. At stake could be a 7%hitto Facebook’s revenues, which would amount to a hefty $6 billion per year.\nTwitter speaks\nHere is an interesting question: if given the option, would users choose to share their information with Facebook or Alphabet for ad purposes? I suspected that the answers would be overwhelmingly “no”. Check out the Twitter poll below.","news_type":1},"isVote":1,"tweetType":1,"viewCount":40,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":324838198,"gmtCreate":1615981002714,"gmtModify":1704789244190,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"It’s a beast","listText":"It’s a beast","text":"It’s a beast","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/324838198","repostId":"2120855851","repostType":4,"repost":{"id":"2120855851","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1615977678,"share":"https://ttm.financial/m/news/2120855851?lang=&edition=fundamental","pubTime":"2021-03-17 18:41","market":"us","language":"en","title":"China's Pinduoduo quarterly revenue more than doubles","url":"https://stock-news.laohu8.com/highlight/detail?id=2120855851","media":"Reuters","summary":"March 17 (Reuters) - Chinese e-commerce firm Pinduoduo Inc reported a 146% surge in quarterly revenu","content":"<p>March 17 (Reuters) - Chinese e-commerce firm Pinduoduo Inc&nbsp;reported a 146% surge in quarterly revenue on Wednesday, thanks to online shoppers buying everything from groceries to luxury products from the comfort of their homes.</p><p>Pinduoduo allows buyers to avail greater discounts when shopping with more number of people - something that seems to have attracted consumers who have less spendable income due to the impact of the COVID-19 pandemic.</p><p>The Shanghai-based company's annual active users jumped during the pandemic-hit year, helping Pinduoduo overtake larger rival Alibaba Group    to become China's largest e-commerce platform by consumers.</p><p>Pinduoduo reported 788.4 million active buyers in 2020, while Alibaba had recorded 779 million active buyers during the same period.</p><p>Total revenues rose to 26.55 billion yuan ($4.08 billion) in the fourth quarter ended Dec. 31, topping analysts' estimates of 19.22 billion yuan, according to IBES data from Refinitiv.</p><p>Net loss narrowed to 1.38 billion yuan from 1.75 billion yuan a year earlier.&nbsp;($1 = 6.5027 Chinese yuan renminbi)</p><p><img src=\"https://static.tigerbbs.com/a078408adff2929b7f4ef1c2cb6f4ea5\" tg-width=\"1045\" tg-height=\"546\"></p><p><b>Fourth Quarter 2020 Highlights</b></p><ul><li><b>GMV1</b>&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB1,667.6 billion(US$2255.6 billion), an increase of 66% fromRMB1,006.6 billionin the twelve-month period endedDecember 31, 2019.</li><li><b>Total revenues</b>&nbsp;in the quarter wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019.</li><li><b>Average monthly active users3</b>&nbsp;in the quarter were 719.9 million, an increase of 50% from 481.5 million in the same quarter of 2019.</li><li><b>Active buyers4</b>&nbsp;in the twelve-month period endedDecember 31, 2020were 788.4 million, an increase of 35% from 585.2 million in the twelve-month period endedDecember 31, 2019.</li><li><b>Annual spending per active buyer5</b>&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB 2,115.2(US$324.2), an increase of 23% fromRMB 1,720.1in the twelve-month period endedDecember 31, 2019.</li></ul><p>“We saw six years ago that mobile is the only way to go. Therefore, we are the only major consumer internet company in the world that is mobile only. The mobile internet fundamentally transforms the way humans interact with each other,” said Mr.Lei Chen, Chairman and Chief Executive Officer ofPinduoduo.</p><p>“This revolution is tearing down the walls between the physical and digital worlds. Being a mobile-only product in this new age, we are well-placed to benefit from the opportunities thrown up by each behavioral change.”</p><p>“One such change sweeping the world is agriculture and grocery.Pinduoduostarted with agricultural products, with the vision of offering consumers the ‘Costco + Disney’ experience of more savings and more fun. We are now the largest agriculture platform inChinaand we hope thatPinduoduocan one day become the largest grocer in the world,”Mr. Chencontinued.</p><p>“Agriculture is a strategic priority for us, and we will continue to invest in technology and operations across the agricultural value chain to optimize food production, distribution and consumption,” added Mr.David Liu, Vice President of Strategy. “Reducing inefficiencies in the supply chain will lower structural costs and make groceries more affordable for everyone.”</p><p>“We continued to deliver strong results in the fourth quarter and generate positive cash flow from operations,” said Mr.Tony Ma, Vice President of Finance. “Our total revenues for fiscal year 2020 increased 97% from the prior year, and excluding contribution from merchandise sales, our total revenues grew 78%.”</p><p><b>Fourth Quarter 2020 Unaudited Financial Results</b></p><p><b>Total revenues</b>wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.</p><ul><li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,922.0 million(US$2,899.9 million), an increase of 95% fromRMB9,686.7 millionin the same quarter of 2019.</li><li><b>Revenues from transaction services</b>wereRMB2,267.9 million(US$347.6 million), an increase of 105% fromRMB1,106.0 millionin the same quarter of 2019.</li><li><b>Revenues from merchandise sales</b>wereRMB5,357.8 million(US$821.1 million), an increase ofRMB5,357.8 millionfrom nil in the same quarter of 2019.</li></ul><p><b>Total costs of revenues</b>wereRMB11,526.1 million(US$1,766.5 million), an increase of 466% fromRMB2,037.4 millionin the same quarter of 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.</p><p><b>Total operating expenses</b>wereRMB17,069.4 million(US$2,616.0 million), compared withRMB10,890.6 millionin the same quarter of 2019.</p><ul><li><b>Sales and marketing expenses</b>wereRMB14,712.5 million(US$2,254.8 million), an increase of 59% fromRMB9,272.5 millionin the same quarter of 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li><b>General and administrative expenses</b>wereRMB405.6 million(US$62.2 million), an increase of 17% fromRMB345.7 millionin the same quarter of 2019, primarily due to an increase in professional and outsourcing services.</li><li><b>Research and development expenses</b>wereRMB1,951.3 million(US$299.0 million), an increase of 53% fromRMB1,272.4 millionin the same quarter of 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul><p><b>Operating loss</b>wasRMB2,047.8 million(US$313.8 million), compared with operating loss ofRMB2,135.3 millionin the same quarter of 2019.<b>Non-GAAP operating loss6</b>wasRMB1,114.5 million(US$170.8 million), compared with operating loss ofRMB1,336.6 millionin the same quarter of 2019.</p><p><b>Net loss attributable to ordinary shareholders</b>wasRMB1,376.4 million(US$210.9 million), compared withRMB1,751.6 millionin the same quarter of 2019.<b>Non-GAAP net loss attributable to ordinary shareholders</b>wasRMB184.5 million(US$28.3 million), compared withRMB815.0 millionin the same quarter of 2019.</p><p><b>Basic and diluted net loss per ADS</b>wereRMB1.13(US$0.17), compared withRMB1.52in the same quarter of 2019.<b>Non-GAAP basic and diluted net loss per ADS</b>wereRMB0.15(US$0.02), compared withRMB0.72in the same quarter of 2019.</p><p><b>Net cash flow from operating activities</b>wasRMB14,946.6 million(US$2,290.7 million), compared withRMB9,598.0 millionin the same quarter of 2019, primarily due to an increase in online marketing services revenues.</p><p><b>Cash, cash equivalents and short-term investments</b>wereRMB87.0 billion(US$13.3 billion) as ofDecember 31, 2020, compared withRMB41.1 billionas ofDecember 31, 2019.</p><p><b>Fiscal Year 2020 Financial Results</b></p><p><b>Total revenues</b>wereRMB59,491.9 million(US$9,117.5 million), representing an increase of 97% fromRMB30,141.9 millionin 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.</p><ul><li><b>Revenues from online marketing services and others</b>wereRMB47,953.8 million(US$7,349.2 million), representing an increase of 79% fromRMB26,813.6 millionin 2019.</li><li><b>Revenues from transaction services</b>wereRMB5,787.4 million(US$887.0 million), representing an increase of 74% fromRMB3,328.2 millionin 2019.</li><li><b>Revenues from merchandise sales</b>wereRMB5,750.7 million(US$881.3 million), an increase ofRMB5,750.7 millionfrom nil in 2019.</li></ul><p><b>Total costs of revenues</b>wereRMB19,278.6 million(US$2,954.6 million), representing an increase of 204% fromRMB6,338.8 millionin 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.</p><p><b>Total operating expenses</b>wereRMB49,593.5 million(US$7,600.5 million), compared withRMB32,341.3 millionin 2019.</p><ul><li><b>Sales and marketing expenses</b>wereRMB41,194.6 million(US$6,313.3 million), an increase of 52% fromRMB27,174.2 millionin 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li><b>General and administrative expenses</b>wereRMB1,507.3 million(US$231.0 million), an increase of 16% fromRMB1,296.7 millionin 2019, primarily due to an increase in headcount.</li><li><b>Research and development expenses</b>wereRMB6,891.7 million(US$1,056.2 million), an increase of 78% fromRMB3,870.4 millionin 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul><p><b>Operating loss</b>wasRMB9,380.3 million(US$1,437.6 million), compared with operating loss ofRMB8,538.2 millionin 2019.<b>Non-GAAP operating loss</b>wasRMB5,767.3 million(US$883.9 million), compared withRMB5,980.5 millionin 2019.</p><p><b>Net loss attributable to ordinary shareholders</b>wasRMB7,179.7 million(US$1,100.3 million), compared withRMB6,967.6 millionin 2019.<b>Non-GAAP net loss attributable to ordinary shareholders</b>wasRMB2,965.0 million(US$454.4 million), compared withRMB4,265.8 millionin 2019.</p><p><b>Basic and diluted net loss per ADS</b>wereRMB6.02(US$0.92), compared withRMB6.04in 2019. Non-GAAP basic and diluted net loss per ADS wereRMB2.49(US$0.38), compared withRMB3.68in 2019.</p><p><b>Net cash provided by operating activities</b>wasRMB28,196.6 million(US$4,321.3 million), compared withRMB14,821.0 millionin 2019, primarily due to an increase in online marketing services revenues.</p><p><b>Recent Development</b></p><p>As of&nbsp;February 28, 2021,US$711.9 millionof the 0% convertible bond due in 2024 have been converted into newly issued ADSs.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>China's Pinduoduo quarterly revenue more than doubles</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nChina's Pinduoduo quarterly revenue more than doubles\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-03-17 18:41</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>March 17 (Reuters) - Chinese e-commerce firm Pinduoduo Inc&nbsp;reported a 146% surge in quarterly revenue on Wednesday, thanks to online shoppers buying everything from groceries to luxury products from the comfort of their homes.</p><p>Pinduoduo allows buyers to avail greater discounts when shopping with more number of people - something that seems to have attracted consumers who have less spendable income due to the impact of the COVID-19 pandemic.</p><p>The Shanghai-based company's annual active users jumped during the pandemic-hit year, helping Pinduoduo overtake larger rival Alibaba Group    to become China's largest e-commerce platform by consumers.</p><p>Pinduoduo reported 788.4 million active buyers in 2020, while Alibaba had recorded 779 million active buyers during the same period.</p><p>Total revenues rose to 26.55 billion yuan ($4.08 billion) in the fourth quarter ended Dec. 31, topping analysts' estimates of 19.22 billion yuan, according to IBES data from Refinitiv.</p><p>Net loss narrowed to 1.38 billion yuan from 1.75 billion yuan a year earlier.&nbsp;($1 = 6.5027 Chinese yuan renminbi)</p><p><img src=\"https://static.tigerbbs.com/a078408adff2929b7f4ef1c2cb6f4ea5\" tg-width=\"1045\" tg-height=\"546\"></p><p><b>Fourth Quarter 2020 Highlights</b></p><ul><li><b>GMV1</b>&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB1,667.6 billion(US$2255.6 billion), an increase of 66% fromRMB1,006.6 billionin the twelve-month period endedDecember 31, 2019.</li><li><b>Total revenues</b>&nbsp;in the quarter wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019.</li><li><b>Average monthly active users3</b>&nbsp;in the quarter were 719.9 million, an increase of 50% from 481.5 million in the same quarter of 2019.</li><li><b>Active buyers4</b>&nbsp;in the twelve-month period endedDecember 31, 2020were 788.4 million, an increase of 35% from 585.2 million in the twelve-month period endedDecember 31, 2019.</li><li><b>Annual spending per active buyer5</b>&nbsp;in the twelve-month period endedDecember 31, 2020wasRMB 2,115.2(US$324.2), an increase of 23% fromRMB 1,720.1in the twelve-month period endedDecember 31, 2019.</li></ul><p>“We saw six years ago that mobile is the only way to go. Therefore, we are the only major consumer internet company in the world that is mobile only. The mobile internet fundamentally transforms the way humans interact with each other,” said Mr.Lei Chen, Chairman and Chief Executive Officer ofPinduoduo.</p><p>“This revolution is tearing down the walls between the physical and digital worlds. Being a mobile-only product in this new age, we are well-placed to benefit from the opportunities thrown up by each behavioral change.”</p><p>“One such change sweeping the world is agriculture and grocery.Pinduoduostarted with agricultural products, with the vision of offering consumers the ‘Costco + Disney’ experience of more savings and more fun. We are now the largest agriculture platform inChinaand we hope thatPinduoduocan one day become the largest grocer in the world,”Mr. Chencontinued.</p><p>“Agriculture is a strategic priority for us, and we will continue to invest in technology and operations across the agricultural value chain to optimize food production, distribution and consumption,” added Mr.David Liu, Vice President of Strategy. “Reducing inefficiencies in the supply chain will lower structural costs and make groceries more affordable for everyone.”</p><p>“We continued to deliver strong results in the fourth quarter and generate positive cash flow from operations,” said Mr.Tony Ma, Vice President of Finance. “Our total revenues for fiscal year 2020 increased 97% from the prior year, and excluding contribution from merchandise sales, our total revenues grew 78%.”</p><p><b>Fourth Quarter 2020 Unaudited Financial Results</b></p><p><b>Total revenues</b>wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.</p><ul><li><b>Revenues from online marketing services and others</b>&nbsp;were&nbsp;RMB18,922.0 million(US$2,899.9 million), an increase of 95% fromRMB9,686.7 millionin the same quarter of 2019.</li><li><b>Revenues from transaction services</b>wereRMB2,267.9 million(US$347.6 million), an increase of 105% fromRMB1,106.0 millionin the same quarter of 2019.</li><li><b>Revenues from merchandise sales</b>wereRMB5,357.8 million(US$821.1 million), an increase ofRMB5,357.8 millionfrom nil in the same quarter of 2019.</li></ul><p><b>Total costs of revenues</b>wereRMB11,526.1 million(US$1,766.5 million), an increase of 466% fromRMB2,037.4 millionin the same quarter of 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.</p><p><b>Total operating expenses</b>wereRMB17,069.4 million(US$2,616.0 million), compared withRMB10,890.6 millionin the same quarter of 2019.</p><ul><li><b>Sales and marketing expenses</b>wereRMB14,712.5 million(US$2,254.8 million), an increase of 59% fromRMB9,272.5 millionin the same quarter of 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li><b>General and administrative expenses</b>wereRMB405.6 million(US$62.2 million), an increase of 17% fromRMB345.7 millionin the same quarter of 2019, primarily due to an increase in professional and outsourcing services.</li><li><b>Research and development expenses</b>wereRMB1,951.3 million(US$299.0 million), an increase of 53% fromRMB1,272.4 millionin the same quarter of 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul><p><b>Operating loss</b>wasRMB2,047.8 million(US$313.8 million), compared with operating loss ofRMB2,135.3 millionin the same quarter of 2019.<b>Non-GAAP operating loss6</b>wasRMB1,114.5 million(US$170.8 million), compared with operating loss ofRMB1,336.6 millionin the same quarter of 2019.</p><p><b>Net loss attributable to ordinary shareholders</b>wasRMB1,376.4 million(US$210.9 million), compared withRMB1,751.6 millionin the same quarter of 2019.<b>Non-GAAP net loss attributable to ordinary shareholders</b>wasRMB184.5 million(US$28.3 million), compared withRMB815.0 millionin the same quarter of 2019.</p><p><b>Basic and diluted net loss per ADS</b>wereRMB1.13(US$0.17), compared withRMB1.52in the same quarter of 2019.<b>Non-GAAP basic and diluted net loss per ADS</b>wereRMB0.15(US$0.02), compared withRMB0.72in the same quarter of 2019.</p><p><b>Net cash flow from operating activities</b>wasRMB14,946.6 million(US$2,290.7 million), compared withRMB9,598.0 millionin the same quarter of 2019, primarily due to an increase in online marketing services revenues.</p><p><b>Cash, cash equivalents and short-term investments</b>wereRMB87.0 billion(US$13.3 billion) as ofDecember 31, 2020, compared withRMB41.1 billionas ofDecember 31, 2019.</p><p><b>Fiscal Year 2020 Financial Results</b></p><p><b>Total revenues</b>wereRMB59,491.9 million(US$9,117.5 million), representing an increase of 97% fromRMB30,141.9 millionin 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.</p><ul><li><b>Revenues from online marketing services and others</b>wereRMB47,953.8 million(US$7,349.2 million), representing an increase of 79% fromRMB26,813.6 millionin 2019.</li><li><b>Revenues from transaction services</b>wereRMB5,787.4 million(US$887.0 million), representing an increase of 74% fromRMB3,328.2 millionin 2019.</li><li><b>Revenues from merchandise sales</b>wereRMB5,750.7 million(US$881.3 million), an increase ofRMB5,750.7 millionfrom nil in 2019.</li></ul><p><b>Total costs of revenues</b>wereRMB19,278.6 million(US$2,954.6 million), representing an increase of 204% fromRMB6,338.8 millionin 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.</p><p><b>Total operating expenses</b>wereRMB49,593.5 million(US$7,600.5 million), compared withRMB32,341.3 millionin 2019.</p><ul><li><b>Sales and marketing expenses</b>wereRMB41,194.6 million(US$6,313.3 million), an increase of 52% fromRMB27,174.2 millionin 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.</li><li><b>General and administrative expenses</b>wereRMB1,507.3 million(US$231.0 million), an increase of 16% fromRMB1,296.7 millionin 2019, primarily due to an increase in headcount.</li><li><b>Research and development expenses</b>wereRMB6,891.7 million(US$1,056.2 million), an increase of 78% fromRMB3,870.4 millionin 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&amp;D personnel and an increase in R&amp;D-related cloud services expenses.</li></ul><p><b>Operating loss</b>wasRMB9,380.3 million(US$1,437.6 million), compared with operating loss ofRMB8,538.2 millionin 2019.<b>Non-GAAP operating loss</b>wasRMB5,767.3 million(US$883.9 million), compared withRMB5,980.5 millionin 2019.</p><p><b>Net loss attributable to ordinary shareholders</b>wasRMB7,179.7 million(US$1,100.3 million), compared withRMB6,967.6 millionin 2019.<b>Non-GAAP net loss attributable to ordinary shareholders</b>wasRMB2,965.0 million(US$454.4 million), compared withRMB4,265.8 millionin 2019.</p><p><b>Basic and diluted net loss per ADS</b>wereRMB6.02(US$0.92), compared withRMB6.04in 2019. Non-GAAP basic and diluted net loss per ADS wereRMB2.49(US$0.38), compared withRMB3.68in 2019.</p><p><b>Net cash provided by operating activities</b>wasRMB28,196.6 million(US$4,321.3 million), compared withRMB14,821.0 millionin 2019, primarily due to an increase in online marketing services revenues.</p><p><b>Recent Development</b></p><p>As of&nbsp;February 28, 2021,US$711.9 millionof the 0% convertible bond due in 2024 have been converted into newly issued ADSs.</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":"2120855851","content_text":"March 17 (Reuters) - Chinese e-commerce firm Pinduoduo Inc reported a 146% surge in quarterly revenue on Wednesday, thanks to online shoppers buying everything from groceries to luxury products from the comfort of their homes.Pinduoduo allows buyers to avail greater discounts when shopping with more number of people - something that seems to have attracted consumers who have less spendable income due to the impact of the COVID-19 pandemic.The Shanghai-based company's annual active users jumped during the pandemic-hit year, helping Pinduoduo overtake larger rival Alibaba Group    to become China's largest e-commerce platform by consumers.Pinduoduo reported 788.4 million active buyers in 2020, while Alibaba had recorded 779 million active buyers during the same period.Total revenues rose to 26.55 billion yuan ($4.08 billion) in the fourth quarter ended Dec. 31, topping analysts' estimates of 19.22 billion yuan, according to IBES data from Refinitiv.Net loss narrowed to 1.38 billion yuan from 1.75 billion yuan a year earlier. ($1 = 6.5027 Chinese yuan renminbi)Fourth Quarter 2020 HighlightsGMV1 in the twelve-month period endedDecember 31, 2020wasRMB1,667.6 billion(US$2255.6 billion), an increase of 66% fromRMB1,006.6 billionin the twelve-month period endedDecember 31, 2019.Total revenues in the quarter wereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019.Average monthly active users3 in the quarter were 719.9 million, an increase of 50% from 481.5 million in the same quarter of 2019.Active buyers4 in the twelve-month period endedDecember 31, 2020were 788.4 million, an increase of 35% from 585.2 million in the twelve-month period endedDecember 31, 2019.Annual spending per active buyer5 in the twelve-month period endedDecember 31, 2020wasRMB 2,115.2(US$324.2), an increase of 23% fromRMB 1,720.1in the twelve-month period endedDecember 31, 2019.“We saw six years ago that mobile is the only way to go. Therefore, we are the only major consumer internet company in the world that is mobile only. The mobile internet fundamentally transforms the way humans interact with each other,” said Mr.Lei Chen, Chairman and Chief Executive Officer ofPinduoduo.“This revolution is tearing down the walls between the physical and digital worlds. Being a mobile-only product in this new age, we are well-placed to benefit from the opportunities thrown up by each behavioral change.”“One such change sweeping the world is agriculture and grocery.Pinduoduostarted with agricultural products, with the vision of offering consumers the ‘Costco + Disney’ experience of more savings and more fun. We are now the largest agriculture platform inChinaand we hope thatPinduoduocan one day become the largest grocer in the world,”Mr. Chencontinued.“Agriculture is a strategic priority for us, and we will continue to invest in technology and operations across the agricultural value chain to optimize food production, distribution and consumption,” added Mr.David Liu, Vice President of Strategy. “Reducing inefficiencies in the supply chain will lower structural costs and make groceries more affordable for everyone.”“We continued to deliver strong results in the fourth quarter and generate positive cash flow from operations,” said Mr.Tony Ma, Vice President of Finance. “Our total revenues for fiscal year 2020 increased 97% from the prior year, and excluding contribution from merchandise sales, our total revenues grew 78%.”Fourth Quarter 2020 Unaudited Financial ResultsTotal revenueswereRMB26,547.7 million(US$4,068.6 million), an increase of 146% fromRMB10,792.7 millionin the same quarter of 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.Revenues from online marketing services and others were RMB18,922.0 million(US$2,899.9 million), an increase of 95% fromRMB9,686.7 millionin the same quarter of 2019.Revenues from transaction serviceswereRMB2,267.9 million(US$347.6 million), an increase of 105% fromRMB1,106.0 millionin the same quarter of 2019.Revenues from merchandise saleswereRMB5,357.8 million(US$821.1 million), an increase ofRMB5,357.8 millionfrom nil in the same quarter of 2019.Total costs of revenueswereRMB11,526.1 million(US$1,766.5 million), an increase of 466% fromRMB2,037.4 millionin the same quarter of 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.Total operating expenseswereRMB17,069.4 million(US$2,616.0 million), compared withRMB10,890.6 millionin the same quarter of 2019.Sales and marketing expenseswereRMB14,712.5 million(US$2,254.8 million), an increase of 59% fromRMB9,272.5 millionin the same quarter of 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.General and administrative expenseswereRMB405.6 million(US$62.2 million), an increase of 17% fromRMB345.7 millionin the same quarter of 2019, primarily due to an increase in professional and outsourcing services.Research and development expenseswereRMB1,951.3 million(US$299.0 million), an increase of 53% fromRMB1,272.4 millionin the same quarter of 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.Operating losswasRMB2,047.8 million(US$313.8 million), compared with operating loss ofRMB2,135.3 millionin the same quarter of 2019.Non-GAAP operating loss6wasRMB1,114.5 million(US$170.8 million), compared with operating loss ofRMB1,336.6 millionin the same quarter of 2019.Net loss attributable to ordinary shareholderswasRMB1,376.4 million(US$210.9 million), compared withRMB1,751.6 millionin the same quarter of 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB184.5 million(US$28.3 million), compared withRMB815.0 millionin the same quarter of 2019.Basic and diluted net loss per ADSwereRMB1.13(US$0.17), compared withRMB1.52in the same quarter of 2019.Non-GAAP basic and diluted net loss per ADSwereRMB0.15(US$0.02), compared withRMB0.72in the same quarter of 2019.Net cash flow from operating activitieswasRMB14,946.6 million(US$2,290.7 million), compared withRMB9,598.0 millionin the same quarter of 2019, primarily due to an increase in online marketing services revenues.Cash, cash equivalents and short-term investmentswereRMB87.0 billion(US$13.3 billion) as ofDecember 31, 2020, compared withRMB41.1 billionas ofDecember 31, 2019.Fiscal Year 2020 Financial ResultsTotal revenueswereRMB59,491.9 million(US$9,117.5 million), representing an increase of 97% fromRMB30,141.9 millionin 2019. The increase was primarily due to an increase in revenues from online marketing services and contribution from merchandise sales.Revenues from online marketing services and otherswereRMB47,953.8 million(US$7,349.2 million), representing an increase of 79% fromRMB26,813.6 millionin 2019.Revenues from transaction serviceswereRMB5,787.4 million(US$887.0 million), representing an increase of 74% fromRMB3,328.2 millionin 2019.Revenues from merchandise saleswereRMB5,750.7 million(US$881.3 million), an increase ofRMB5,750.7 millionfrom nil in 2019.Total costs of revenueswereRMB19,278.6 million(US$2,954.6 million), representing an increase of 204% fromRMB6,338.8 millionin 2019. The increase was mainly due to costs and expenses attributable to merchandise sales, higher cost of payment processing fees, cloud services fees, merchant support services, and delivery and storage fees.Total operating expenseswereRMB49,593.5 million(US$7,600.5 million), compared withRMB32,341.3 millionin 2019.Sales and marketing expenseswereRMB41,194.6 million(US$6,313.3 million), an increase of 52% fromRMB27,174.2 millionin 2019, mainly due to an increase in advertising expenses and promotion and coupon expenses.General and administrative expenseswereRMB1,507.3 million(US$231.0 million), an increase of 16% fromRMB1,296.7 millionin 2019, primarily due to an increase in headcount.Research and development expenseswereRMB6,891.7 million(US$1,056.2 million), an increase of 78% fromRMB3,870.4 millionin 2019. The increase was primarily due to an increase in headcount and the recruitment of more experienced R&D personnel and an increase in R&D-related cloud services expenses.Operating losswasRMB9,380.3 million(US$1,437.6 million), compared with operating loss ofRMB8,538.2 millionin 2019.Non-GAAP operating losswasRMB5,767.3 million(US$883.9 million), compared withRMB5,980.5 millionin 2019.Net loss attributable to ordinary shareholderswasRMB7,179.7 million(US$1,100.3 million), compared withRMB6,967.6 millionin 2019.Non-GAAP net loss attributable to ordinary shareholderswasRMB2,965.0 million(US$454.4 million), compared withRMB4,265.8 millionin 2019.Basic and diluted net loss per ADSwereRMB6.02(US$0.92), compared withRMB6.04in 2019. Non-GAAP basic and diluted net loss per ADS wereRMB2.49(US$0.38), compared withRMB3.68in 2019.Net cash provided by operating activitieswasRMB28,196.6 million(US$4,321.3 million), compared withRMB14,821.0 millionin 2019, primarily due to an increase in online marketing services revenues.Recent DevelopmentAs of February 28, 2021,US$711.9 millionof the 0% convertible bond due in 2024 have been converted into newly issued ADSs.","news_type":1},"isVote":1,"tweetType":1,"viewCount":89,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":191238293,"gmtCreate":1620879641312,"gmtModify":1704349801445,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HITIF\">$High Tide Inc.(HITIF)$</a>What is your opinion guys?","listText":"<a href=\"https://laohu8.com/S/HITIF\">$High Tide Inc.(HITIF)$</a>What is your opinion guys?","text":"$High Tide Inc.(HITIF)$What is your opinion guys?","images":[{"img":"https://static.tigerbbs.com/001b7dacfb9762874c74c9f5a2254c92","width":"1170","height":"2260"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/191238293","isVote":1,"tweetType":1,"viewCount":228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":106882051,"gmtCreate":1620101933073,"gmtModify":1704338678100,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Buy buy buy.","listText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Buy buy buy.","text":"$Trulieve Cannabis Corporation(TCNNF)$Buy buy buy.","images":[{"img":"https://static.tigerbbs.com/28346e4e6315ff24b899f750d8bd319e","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/106882051","isVote":1,"tweetType":1,"viewCount":271,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":100942762,"gmtCreate":1619576684256,"gmtModify":1704726220621,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"What is your opinion guys?","listText":"What is your opinion guys?","text":"What is your opinion guys?","images":[{"img":"https://static.tigerbbs.com/ec7ef39f053c035942778e81137322e3","width":"1125","height":"3352"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/100942762","isVote":1,"tweetType":1,"viewCount":204,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":372435127,"gmtCreate":1619232588469,"gmtModify":1704721618380,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Is it good entry in this range?","listText":"Is it good entry in this range?","text":"Is it good entry in this range?","images":[{"img":"https://static.tigerbbs.com/a51ba00158827001e79bed3e4246be7c","width":"1125","height":"3525"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372435127","isVote":1,"tweetType":1,"viewCount":202,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":372012586,"gmtCreate":1619157438445,"gmtModify":1704720536489,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Thinking to add some","listText":"<a href=\"https://laohu8.com/S/TCNNF\">$Trulieve Cannabis Corporation(TCNNF)$</a>Thinking to add some","text":"$Trulieve Cannabis Corporation(TCNNF)$Thinking to add some","images":[{"img":"https://static.tigerbbs.com/1d85323479ec23dfadc686f5d5435b50","width":"1170","height":"2026"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372012586","isVote":1,"tweetType":1,"viewCount":350,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":372018791,"gmtCreate":1619157254913,"gmtModify":1704720533696,"author":{"id":"3579061515028191","authorId":"3579061515028191","name":"ErDee","avatar":"https://static.tigerbbs.com/c080c06d50582c0cc2d9db2ef510c48c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579061515028191","authorIdStr":"3579061515028191"},"themes":[],"htmlText":"Is it good entry?","listText":"Is it good entry?","text":"Is it good entry?","images":[{"img":"https://static.tigerbbs.com/03e9f28763cef7005a007f23555904af","width":"1125","height":"3266"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/372018791","isVote":1,"tweetType":1,"viewCount":144,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}