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2023-08-30

The Chinese government’s increased regulatory scrutiny and potential antitrust measures could significantly limit Alibaba’s (NYSE:BABA) market dominance. Further, the ongoing uncertainties related to the post-COVID economic recovery could impact consumer spending and overall business growth. Also, while Alibaba Cloud has shown growth in revenue and potential in AI services, intensifying competition from other global cloud service providers could limit its market share expansion and put pressure on margins. The departure of Alibaba’s long-standing CEO, Daniel Zhang, could lead to transitional challenges and potential disruptions, as well. No wonder this is one of the top Michael Burry stocks to exit. Credit. Web Reference

2023-05-25

Great ariticle, would you like to share it?

@Elliottwave_Forecast:SCCO Favors Sideways To Lower Before Rally Resumes

2023-05-04

Share

@Tiger_Wealth:25bps Rate Hike in May’s FOMC Meeting: Fed Pause on The Horizon

2023-05-04

Good to know

@LMSunshine:I’m 🐻-ish About COIN🪙 But Cathie Wood Loads

2023-05-04

Cool

@Alice Arnault:Techical analysis 101: Valuation methods with cases

2023-04-26

Philip stock

@Tiger_Earnings:Earnings Movers| Consumption Like PHG, KO, WHR All Beat; While Banks FRC & CS Deposits Outflow

2023-04-26

ETFs stock

@ETF Tracker:TSLL up 47%! Single-Stock ETFs Have Impressive Returns!

2022-12-02

Apple

2022-10-19

$DiDi Global Inc.(DIDIY)$deaths

2022-10-18

$Roblox Corporation(RBLX)$Top percentages rising stock

2022-10-14

$JPMorgan Chase(JPM)$

2022-08-03

$Unity Software Inc.(U)$Up

2022-04-08

Typing...

Tesla Is Due to Report Earnings in Late April. Consider This "Time Arbitrage" Move

2022-02-21

Sad

Australian Shares Weighed down by Tech Stocks, Ukraine Tensions

2022-02-20

Ok.. good

PayPal: Panic Time

2021-09-11

Down to the hill.

2021-09-07

$Tiger Brokers(TIGR)$Hope up on this week..

2021-09-06

Didi May not reach back initial price?

2021-08-27

Too long in sleeping

2021-08-26

Wave form

Go to Tiger App to see more news

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Chinese government’s increased regulatory scrutiny and potential antitrust measures could significantly limit Alibaba’s (NYSE:BABA) market dominance. Further, the ongoing uncertainties related to the post-COVID economic recovery could impact consumer spending and overall business growth. Also, while Alibaba Cloud has shown growth in revenue and potential in AI services, intensifying competition from other global cloud service providers could limit its market share expansion and put pressure on margins. The departure of Alibaba’s long-standing CEO, Daniel Zhang, could lead to transitional challenges and potential disruptions, as well. No wonder this is one of the top Michael Burry stocks to exit. Credit. Web Reference&nbsp;","listText":"The Chinese government’s increased regulatory scrutiny and potential antitrust measures could significantly limit Alibaba’s (NYSE:BABA) market dominance. Further, the ongoing uncertainties related to the post-COVID economic recovery could impact consumer spending and overall business growth. Also, while Alibaba Cloud has shown growth in revenue and potential in AI services, intensifying competition from other global cloud service providers could limit its market share expansion and put pressure on margins. The departure of Alibaba’s long-standing CEO, Daniel Zhang, could lead to transitional challenges and potential disruptions, as well. No wonder this is one of the top Michael Burry stocks to exit. Credit. Web Reference&nbsp;","text":"The Chinese government’s increased regulatory scrutiny and potential antitrust measures could significantly limit Alibaba’s (NYSE:BABA) market dominance. Further, the ongoing uncertainties related to the post-COVID economic recovery could impact consumer spending and overall business growth. Also, while Alibaba Cloud has shown growth in revenue and potential in AI services, intensifying competition from other global cloud service providers could limit its market share expansion and put pressure on margins. The departure of Alibaba’s long-standing CEO, Daniel Zhang, could lead to transitional challenges and potential disruptions, as well. No wonder this is one of the top Michael Burry stocks to exit. Credit. Web Reference","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/214349108973720","isVote":1,"tweetType":1,"viewCount":348,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9970737745,"gmtCreate":1684944573487,"gmtModify":1684944577621,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970737745","repostId":"9970733192","repostType":1,"repost":{"id":9970733192,"gmtCreate":1684934296617,"gmtModify":1684934345282,"author":{"id":"4113409820866582","authorId":"4113409820866582","name":"Elliottwave_Forecast","avatar":"https://community-static.tradeup.com/news/c00ab1fc45e212abf00117a41ad8354f","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4113409820866582","authorIdStr":"4113409820866582"},"themes":[],"title":"SCCO Favors Sideways To Lower Before Rally Resumes","htmlText":"SCCO Favors Sideways To Lower Before Rally Resumes May 23, 2023 By EWFRaj Southern Copper Corporation (SCCO) engages in mining, exploration, smelting &amp; refining of Copper &amp; other minerals in Peru, Mexico, Argentina, Ecuador &amp; Chile. The company is based in Phoenix, Arizona, US, comes under Basic Materials Sector &amp; trades as “SCCO” ticker at NYSE. SCCO made all time high at $83.15 as wave I impulse started from March-2020 low of (II). Later, it finished II as flat correction at $42.42 low. Currently, it favors pullback in ((2)), while placed ((1)) at $82.05 high. It expects ((2)) to unfold in 3, 7 or 11 swings &amp; remain supported at extreme area to resume higher in ((3)) of III. SCCO – Elliott Wave Latest Weekly View:&nbsp; SCCO – Elliott Wave Latest Weekly View:&nbsp; It","listText":"SCCO Favors Sideways To Lower Before Rally Resumes May 23, 2023 By EWFRaj Southern Copper Corporation (SCCO) engages in mining, exploration, smelting &amp; refining of Copper &amp; other minerals in Peru, Mexico, Argentina, Ecuador &amp; Chile. The company is based in Phoenix, Arizona, US, comes under Basic Materials Sector &amp; trades as “SCCO” ticker at NYSE. SCCO made all time high at $83.15 as wave I impulse started from March-2020 low of (II). Later, it finished II as flat correction at $42.42 low. Currently, it favors pullback in ((2)), while placed ((1)) at $82.05 high. It expects ((2)) to unfold in 3, 7 or 11 swings &amp; remain supported at extreme area to resume higher in ((3)) of III. SCCO – Elliott Wave Latest Weekly View:&nbsp; SCCO – Elliott Wave Latest Weekly View:&nbsp; It","text":"SCCO Favors Sideways To Lower Before Rally Resumes May 23, 2023 By EWFRaj Southern Copper Corporation (SCCO) engages in mining, exploration, smelting & refining of Copper & other minerals in Peru, Mexico, Argentina, Ecuador & Chile. The company is based in Phoenix, Arizona, US, comes under Basic Materials Sector & trades as “SCCO” ticker at NYSE. SCCO made all time high at $83.15 as wave I impulse started from March-2020 low of (II). Later, it finished II as flat correction at $42.42 low. Currently, it favors pullback in ((2)), while placed ((1)) at $82.05 high. It expects ((2)) to unfold in 3, 7 or 11 swings & remain supported at extreme area to resume higher in ((3)) of III. SCCO – Elliott Wave Latest Weekly View: SCCO – Elliott Wave Latest Weekly View: It","images":[{"img":"https://community-static.tradeup.com/news/967b4766fff82ec3266eae996070a58e","width":"1024","height":"525"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9970733192","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":339,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947224730,"gmtCreate":1683211715921,"gmtModify":1683211719482,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Share","listText":"Share","text":"Share","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947224730","repostId":"9947269379","repostType":1,"repost":{"id":9947269379,"gmtCreate":1683198790891,"gmtModify":1683198818640,"author":{"id":"4115188532413322","authorId":"4115188532413322","name":"Tiger_Wealth","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4115188532413322","authorIdStr":"4115188532413322"},"themes":[],"title":"25bps Rate Hike in May’s FOMC Meeting: Fed Pause on The Horizon","htmlText":"In a widely anticipated move, the US Federal Reserve raised interest rates for the 10th time in just over a year. The Fed fund rate now stands at a target range of 5%-5.25%, which is the highest it has been since August 2007.Source: Bloomberg&nbsp;During the news conference that followed the meeting, Chairman Jerome Powell confirmed that \"a decision on a pause was not made today.\" This is despite the omission of a sentence stating that “the Committee anticipates that some additional policy firming may be appropriate.\" It appears that the Fed has finally reached the terminal rates it had set out to achieve.&nbsp;S&amp;P 500 &amp; Nasdaq Index, Source: Bloomberg The bond markets initially priced a rate hike in the June Fed meeting. However, the sentiment soon changed into a likely rate pause","listText":"In a widely anticipated move, the US Federal Reserve raised interest rates for the 10th time in just over a year. The Fed fund rate now stands at a target range of 5%-5.25%, which is the highest it has been since August 2007.Source: Bloomberg&nbsp;During the news conference that followed the meeting, Chairman Jerome Powell confirmed that \"a decision on a pause was not made today.\" This is despite the omission of a sentence stating that “the Committee anticipates that some additional policy firming may be appropriate.\" It appears that the Fed has finally reached the terminal rates it had set out to achieve.&nbsp;S&amp;P 500 &amp; Nasdaq Index, Source: Bloomberg The bond markets initially priced a rate hike in the June Fed meeting. However, the sentiment soon changed into a likely rate pause","text":"In a widely anticipated move, the US Federal Reserve raised interest rates for the 10th time in just over a year. The Fed fund rate now stands at a target range of 5%-5.25%, which is the highest it has been since August 2007.Source: Bloomberg During the news conference that followed the meeting, Chairman Jerome Powell confirmed that \"a decision on a pause was not made today.\" This is despite the omission of a sentence stating that “the Committee anticipates that some additional policy firming may be appropriate.\" It appears that the Fed has finally reached the terminal rates it had set out to achieve. S&P 500 & Nasdaq Index, Source: Bloomberg The bond markets initially priced a rate hike in the June Fed meeting. However, the sentiment soon changed into a likely rate pause","images":[{"img":"https://community-static.tradeup.com/news/80116eeef27dd0f8dcbc4361429d763c","width":"752","height":"462"},{"img":"https://community-static.tradeup.com/news/8c180491c8a6d0bbb5ee2b75e1104e29","width":"761","height":"453"},{"img":"https://community-static.tradeup.com/news/e630ae790463ff9fb94d3927639fc388","width":"774","height":"438"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947269379","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":4,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":443,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947224429,"gmtCreate":1683211677361,"gmtModify":1683211685665,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Good to know","listText":"Good to know","text":"Good to know","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947224429","repostId":"9947669196","repostType":1,"repost":{"id":9947669196,"gmtCreate":1683075669616,"gmtModify":1683076324546,"author":{"id":"4113904591642392","authorId":"4113904591642392","name":"LMSunshine","avatar":"https://community-static.tradeup.com/news/0ad636f2490d8428fcee9da6d669e46c","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4113904591642392","authorIdStr":"4113904591642392"},"themes":[],"title":"I’m 🐻-ish About COIN🪙 But Cathie Wood Loads","htmlText":"🐻&nbsp;<a href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$&nbsp;</a><v-v data-views=\"0\"></v-v>stock ended ~7% lower on 5/1 (Mon) in line with losses in the broader cryptocurrency market, as bitcoin (BTC-USD) fell below $29K amid easing of banking fears given JPM’s takeover of&nbsp;<a href=\"https://ttm.financial/S/FRC\">$First Republic Bank(FRC)$&nbsp;</a>Bearish 🐻🐻 Shares of COIN declined as much as 9.9% to their lowest in more than 3 months. 🐻🐻🐻 Shares dropped ~25% from a month ago in the wake of its legal battle against the SEC. However, the stock is still up 49% YTD amid a broader crypto rally. COIN has tumbled 54% over the past 12 months amid turmoil in the cryptocurrency market. But it has rebounded this year, helped by bitcoin’s recovery. 👎 Citi downgraded COIN to Neu","listText":"🐻&nbsp;<a href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$&nbsp;</a><v-v data-views=\"0\"></v-v>stock ended ~7% lower on 5/1 (Mon) in line with losses in the broader cryptocurrency market, as bitcoin (BTC-USD) fell below $29K amid easing of banking fears given JPM’s takeover of&nbsp;<a href=\"https://ttm.financial/S/FRC\">$First Republic Bank(FRC)$&nbsp;</a>Bearish 🐻🐻 Shares of COIN declined as much as 9.9% to their lowest in more than 3 months. 🐻🐻🐻 Shares dropped ~25% from a month ago in the wake of its legal battle against the SEC. However, the stock is still up 49% YTD amid a broader crypto rally. COIN has tumbled 54% over the past 12 months amid turmoil in the cryptocurrency market. But it has rebounded this year, helped by bitcoin’s recovery. 👎 Citi downgraded COIN to Neu","text":"🐻 $Coinbase Global, Inc.(COIN)$ stock ended ~7% lower on 5/1 (Mon) in line with losses in the broader cryptocurrency market, as bitcoin (BTC-USD) fell below $29K amid easing of banking fears given JPM’s takeover of $First Republic Bank(FRC)$ Bearish 🐻🐻 Shares of COIN declined as much as 9.9% to their lowest in more than 3 months. 🐻🐻🐻 Shares dropped ~25% from a month ago in the wake of its legal battle against the SEC. However, the stock is still up 49% YTD amid a broader crypto rally. COIN has tumbled 54% over the past 12 months amid turmoil in the cryptocurrency market. But it has rebounded this year, helped by bitcoin’s recovery. 👎 Citi downgraded COIN to Neu","images":[{"img":"https://community-static.tradeup.com/news/946e36f492890366cf76c8a1528d3740","width":"739","height":"415"},{"img":"https://community-static.tradeup.com/news/344b1a43b7133f79dd9f556b99b7cf86","width":"1207","height":"644"},{"img":"https://community-static.tradeup.com/news/ab6ba33f27dd2e5da83165fde52afd39","width":"1156","height":"621"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947669196","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":3,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947224566,"gmtCreate":1683211651456,"gmtModify":1683211655243,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Cool","listText":"Cool","text":"Cool","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947224566","repostId":"9947645696","repostType":1,"repost":{"id":9947645696,"gmtCreate":1683119849716,"gmtModify":1683119861598,"author":{"id":"4127523291683312","authorId":"4127523291683312","name":"Alice Arnault","avatar":"https://community-static.tradeup.com/news/d4c33c5460824e1c5ea146fa27a62b02","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4127523291683312","authorIdStr":"4127523291683312"},"themes":[],"title":"Techical analysis 101: Valuation methods with cases","htmlText":"Follow me at <a href=\"https://ttm.financial/U/4127523291683312\">@Alice Arnault&nbsp;</a>to learn more&nbsp; Saw quite a number of news stories which talk about valuation, so hope to share a bit on this Relative Valuation - estimates the value of an asset by looking at the pricing of assets relative to a common variable like earnings, cash flows, book value or sales. • Most common multiples: P/E, EV/EBITDA, Price/Book Value, EV/Sales, PEG ratio, free cash flow yield, dividend yield Case: In 2020, the average P/E ratio of the S&amp;P 500 index was around 22x, while the historical average is about 15x. This suggested that the market might have been overvalued at that time. • Historical analysis: how does current pricing compare to history Quant:&nbsp;In 2007, just before the financial crisis,","listText":"Follow me at <a href=\"https://ttm.financial/U/4127523291683312\">@Alice Arnault&nbsp;</a>to learn more&nbsp; Saw quite a number of news stories which talk about valuation, so hope to share a bit on this Relative Valuation - estimates the value of an asset by looking at the pricing of assets relative to a common variable like earnings, cash flows, book value or sales. • Most common multiples: P/E, EV/EBITDA, Price/Book Value, EV/Sales, PEG ratio, free cash flow yield, dividend yield Case: In 2020, the average P/E ratio of the S&amp;P 500 index was around 22x, while the historical average is about 15x. This suggested that the market might have been overvalued at that time. • Historical analysis: how does current pricing compare to history Quant:&nbsp;In 2007, just before the financial crisis,","text":"Follow me at @Alice Arnault to learn more Saw quite a number of news stories which talk about valuation, so hope to share a bit on this Relative Valuation - estimates the value of an asset by looking at the pricing of assets relative to a common variable like earnings, cash flows, book value or sales. • Most common multiples: P/E, EV/EBITDA, Price/Book Value, EV/Sales, PEG ratio, free cash flow yield, dividend yield Case: In 2020, the average P/E ratio of the S&P 500 index was around 22x, while the historical average is about 15x. This suggested that the market might have been overvalued at that time. • Historical analysis: how does current pricing compare to history Quant: In 2007, just before the financial crisis,","images":[{"img":"https://community-static.tradeup.com/news/e55ed0a73d447268a7448f01d67b0141","width":"1080","height":"2337"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947645696","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":285,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947917817,"gmtCreate":1682465229040,"gmtModify":1682465232959,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Philip stock","listText":"Philip stock","text":"Philip stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947917817","repostId":"9947998913","repostType":1,"repost":{"id":9947998913,"gmtCreate":1682426443332,"gmtModify":1682478952252,"author":{"id":"3527667620927015","authorId":"3527667620927015","name":"Tiger_Earnings","avatar":"https://static.tigerbbs.com/1849fb1fb43d93db3974fd09c5f65ff1","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667620927015","authorIdStr":"3527667620927015"},"themes":[],"title":"Earnings Movers| Consumption Like PHG, KO, WHR All Beat; While Banks FRC & CS Deposits Outflow","htmlText":"During Earnings Season, many companies released their reports. Some&nbsp;companies&nbsp;experienced&nbsp;roller&nbsp;coaster&nbsp;ride&nbsp;after&nbsp;the&nbsp;earnings&nbsp;release.&nbsp;You&nbsp;can&nbsp;find&nbsp;the&nbsp;stocks&nbsp;that&nbsp;rose&nbsp;or&nbsp;fell&nbsp;most&nbsp;in&nbsp;\"Movers&nbsp;&amp;&nbsp;Shakers\"&nbsp;on&nbsp;Tiger&nbsp;Trade&nbsp;app.In this article, we gonna brief four companies missed expectations:1. <a href=\"https://ttm.financial/S/PHG\">$Royal Philips NV(PHG)$</a> up 14% after EPS &amp; Revenue all beating estimates The release of quarterly results sparked buying in Philips, which surged 14% after the company took advantage of an improving supply chain and the impact of restructuring efforts.&nbsp;Philips reported Q1 EPS of EUR0.22, EUR0.08 better than the a","listText":"During Earnings Season, many companies released their reports. Some&nbsp;companies&nbsp;experienced&nbsp;roller&nbsp;coaster&nbsp;ride&nbsp;after&nbsp;the&nbsp;earnings&nbsp;release.&nbsp;You&nbsp;can&nbsp;find&nbsp;the&nbsp;stocks&nbsp;that&nbsp;rose&nbsp;or&nbsp;fell&nbsp;most&nbsp;in&nbsp;\"Movers&nbsp;&amp;&nbsp;Shakers\"&nbsp;on&nbsp;Tiger&nbsp;Trade&nbsp;app.In this article, we gonna brief four companies missed expectations:1. <a href=\"https://ttm.financial/S/PHG\">$Royal Philips NV(PHG)$</a> up 14% after EPS &amp; Revenue all beating estimates The release of quarterly results sparked buying in Philips, which surged 14% after the company took advantage of an improving supply chain and the impact of restructuring efforts.&nbsp;Philips reported Q1 EPS of EUR0.22, EUR0.08 better than the a","text":"During Earnings Season, many companies released their reports. Some companies experienced roller coaster ride after the earnings release. You can find the stocks that rose or fell most in \"Movers & Shakers\" on Tiger Trade app.In this article, we gonna brief four companies missed expectations:1. $Royal Philips NV(PHG)$ up 14% after EPS & Revenue all beating estimates The release of quarterly results sparked buying in Philips, which surged 14% after the company took advantage of an improving supply chain and the impact of restructuring efforts. Philips reported Q1 EPS of EUR0.22, EUR0.08 better than the a","images":[{"img":"https://community-static.tradeup.com/news/27e25bcff14d23c9eb0541bdce3954ac","width":"722","height":"687"},{"img":"https://community-static.tradeup.com/news/98e4635e610995cf04c71e0d2e09195a","width":"1200","height":"1044"},{"img":"https://community-static.tradeup.com/news/09ed55c1b4193e63619802fcef0b1461","width":"178","height":"178"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947998913","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":5,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":431,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9947917368,"gmtCreate":1682465139954,"gmtModify":1682465143452,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"ETFs stock","listText":"ETFs stock","text":"ETFs stock","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947917368","repostId":"9947037517","repostType":1,"repost":{"id":9947037517,"gmtCreate":1682337970839,"gmtModify":1682338294819,"author":{"id":"3527667646990931","authorId":"3527667646990931","name":"ETF Tracker","avatar":"https://community-static.tradeup.com/news/087e050021c7db2ae39b1cb7515b694d","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3527667646990931","authorIdStr":"3527667646990931"},"themes":[],"title":"TSLL up  47%! Single-Stock ETFs Have Impressive Returns!","htmlText":"Leveraged single stock ETFs get much attention this year. They are among the best-performing ETFs this year. Several of them have seen strong investor demand. When leveraged single-stock ETFs first launched last July, I was skeptical that they would have much traction. But this year, they have been among the best-performing ETFs this year. What is a \"leveraged single stock ETF\"?Leveraged single stock ETFs allow investors to purchase these products and invest in long or short leveraged multiples of the underlying stock. <a href=\"https://ttm.financial/S/TSLL\">$Direxion Daily TSLA Bull 1.5X Shares(TSLL)$</a>, for example, is a 1.5x leveraged product where the fund manager designs the product and handles complex trades through financial derivative contracts. A 1.5x leveraged Direxion Daily TS","listText":"Leveraged single stock ETFs get much attention this year. They are among the best-performing ETFs this year. Several of them have seen strong investor demand. When leveraged single-stock ETFs first launched last July, I was skeptical that they would have much traction. But this year, they have been among the best-performing ETFs this year. What is a \"leveraged single stock ETF\"?Leveraged single stock ETFs allow investors to purchase these products and invest in long or short leveraged multiples of the underlying stock. <a href=\"https://ttm.financial/S/TSLL\">$Direxion Daily TSLA Bull 1.5X Shares(TSLL)$</a>, for example, is a 1.5x leveraged product where the fund manager designs the product and handles complex trades through financial derivative contracts. A 1.5x leveraged Direxion Daily TS","text":"Leveraged single stock ETFs get much attention this year. They are among the best-performing ETFs this year. Several of them have seen strong investor demand. When leveraged single-stock ETFs first launched last July, I was skeptical that they would have much traction. But this year, they have been among the best-performing ETFs this year. What is a \"leveraged single stock ETF\"?Leveraged single stock ETFs allow investors to purchase these products and invest in long or short leveraged multiples of the underlying stock. $Direxion Daily TSLA Bull 1.5X Shares(TSLL)$, for example, is a 1.5x leveraged product where the fund manager designs the product and handles complex trades through financial derivative contracts. A 1.5x leveraged Direxion Daily TS","images":[{"img":"https://community-static.tradeup.com/news/98b11a89d779aed3af3925e6ad09c3e2","width":"275","height":"183"}],"top":1,"highlighted":2,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9947037517","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":485,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9965869784,"gmtCreate":1669936664948,"gmtModify":1676538272056,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Apple","listText":"Apple","text":"Apple","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9965869784","isVote":1,"tweetType":1,"viewCount":344,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9983071430,"gmtCreate":1666134029820,"gmtModify":1676537709581,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIDIY\">$DiDi Global Inc.(DIDIY)$</a>deaths&nbsp;","listText":"<a href=\"https://ttm.financial/S/DIDIY\">$DiDi Global Inc.(DIDIY)$</a>deaths&nbsp;","text":"$DiDi Global Inc.(DIDIY)$deaths","images":[{"img":"https://community-static.tradeup.com/news/09d6955bf8fd14ac8eabed4103409ab2","width":"750","height":"1464"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9983071430","isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9989525044,"gmtCreate":1666051110089,"gmtModify":1676537696711,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/RBLX\">$Roblox Corporation(RBLX)$</a>Top percentages rising&nbsp;stock&nbsp;","listText":"<a href=\"https://ttm.financial/S/RBLX\">$Roblox Corporation(RBLX)$</a>Top percentages rising&nbsp;stock&nbsp;","text":"$Roblox Corporation(RBLX)$Top percentages rising stock","images":[{"img":"https://community-static.tradeup.com/news/77002e9d0dd7f70fe0edc599317d4234","width":"750","height":"1360"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9989525044","isVote":1,"tweetType":1,"viewCount":381,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9980656127,"gmtCreate":1665721392369,"gmtModify":1676537655418,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/JPM\">$JPMorgan Chase(JPM)$</a>","listText":"<a href=\"https://ttm.financial/S/JPM\">$JPMorgan Chase(JPM)$</a>","text":"$JPMorgan Chase(JPM)$","images":[{"img":"https://community-static.tradeup.com/news/8616e4dc66fa20c315a0adc06eeacb18","width":"750","height":"1712"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9980656127","isVote":1,"tweetType":1,"viewCount":256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9906931256,"gmtCreate":1659480043477,"gmtModify":1705980653518,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/U\">$Unity Software Inc.(U)$</a>Up","listText":"<a href=\"https://ttm.financial/S/U\">$Unity Software Inc.(U)$</a>Up","text":"$Unity Software Inc.(U)$Up","images":[{"img":"https://community-static.tradeup.com/news/21a38600e21b9c60be494e14016483e8","width":"750","height":"2438"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9906931256","isVote":1,"tweetType":1,"viewCount":230,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9012408349,"gmtCreate":1649372195507,"gmtModify":1676534498640,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Typing...","listText":"Typing...","text":"Typing...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9012408349","repostId":"1185894444","repostType":4,"repost":{"id":"1185894444","kind":"news","pubTimestamp":1649345400,"share":"https://ttm.financial/m/news/1185894444?lang=&edition=fundamental","pubTime":"2022-04-07 23:30","market":"us","language":"en","title":"Tesla Is Due to Report Earnings in Late April. Consider This \"Time Arbitrage\" Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1185894444","media":"Barron's","summary":"It will soon be truth or consequences time on Wall Street.Many of the world’s most important compani","content":"<html><head></head><body><p>It will soon be truth or consequences time on Wall Street.</p><p>Many of the world’s most important companies are about to start reporting quarterly earnings, providing investors with an opportunity to compare their estimates of reality with data and commentary from sophisticated corporate practitioners.</p><p>Whatever can be said about what happens next in the financial markets, one thing is clear: Many investors remain confused. The Federal Reserve and other central banks have begun to raise interest rates, bringing about the end of two decades of easy-money policies that supported stocks and the economy. Earnings reports should give investors insight into what comes next.</p><p>The trend, in short, may no longer be your friend, and in such times, it is helpful to have an investing framework. JPMorgan Chase CEO Jamie Dimon recently provided one in his annual letter to shareholders.</p><p>Dimon warned of the unprecedented risks facing the U.S. economy, ranging from persistent inflation, rising rates, the Covid-19 pandemic, and even the potential reordering of the world order. But he also offered some insight into the basic principles and strategies that he used to build his bank.</p><p>“We strive to build enduring businesses, and we are not a conglomerate—all our businesses rely on and benefit from each other. Both of these factors help generate our superior returns,” Dimon wrote, offering investors a useful way to evaluate companies that are well run—and potentially worthy of long-term investments.</p><p>Investors who are intrigued by this can take advantage of a strategy that we have long called “time arbitrage.” By selling short-term options on stocks that they can hold for a minimum of three to five years, investors can use present-day concerns to position to buy stocks that they are willing to warehouse.</p><p>The challenge, now and always, is to think like a thematic, long-term investor even when market conditions and cross currents are disquieting.</p><p>Consider <a href=\"https://laohu8.com/S/TSLA\">Tesla</a>. The electric-vehicle maker recently reported better-than-expected sales data. If last year’s date is indicative, the company will report earnings in late April. To preposition, investors could consider selling Tesla’s put options to potentially buy the stock on weakness.</p><p>With Tesla’s stock at $1,045.76, investors could sell the May $900 put for about $31. The put sale positions them to buy the stock at $900. Should the stock be above $900 at expiration, investors can keep the options premium.</p><p>The great risk is that the stock falls far below the put price, obligating investors to cover the put or to make adjustments to it in the options market to avoid assignment.</p><p>During the past 52 weeks, the stock has ranged from $546.98 to $1,243.49. The company recently announced plans for a stock split “in the form of a stock dividend.” Tesla issued a 5-for-1 stock split in August 2020, but offered no details on the impending corporate action.</p><p>The world is increasingly realizing electric vehicles are the future. The recent surge in oil and gasoline prices has probably accelerated this trend.</p><p>Tesla pioneered the industry’s birth. The competitive moat might be narrowing as electric vehicles become more accepted, but Tesla founder and CEO Elon Musk has a mind of great singularity. He has seen the future. The short-term options trade outlined above is a way to monetize a long-term theme that will probably outlast economic and financial fluctuations.</p></body></html>","source":"lsy1610680873436","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla Is Due to Report Earnings in Late April. Consider This \"Time Arbitrage\" Move</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla Is Due to Report Earnings in Late April. Consider This \"Time Arbitrage\" Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-04-07 23:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.barrons.com/articles/a-time-arbitrage-options-play-on-tesla-stock-51649314803?mod=Searchresults><strong>Barron's</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It will soon be truth or consequences time on Wall Street.Many of the world’s most important companies are about to start reporting quarterly earnings, providing investors with an opportunity to ...</p>\n\n<a href=\"https://www.barrons.com/articles/a-time-arbitrage-options-play-on-tesla-stock-51649314803?mod=Searchresults\">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.barrons.com/articles/a-time-arbitrage-options-play-on-tesla-stock-51649314803?mod=Searchresults","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1185894444","content_text":"It will soon be truth or consequences time on Wall Street.Many of the world’s most important companies are about to start reporting quarterly earnings, providing investors with an opportunity to compare their estimates of reality with data and commentary from sophisticated corporate practitioners.Whatever can be said about what happens next in the financial markets, one thing is clear: Many investors remain confused. The Federal Reserve and other central banks have begun to raise interest rates, bringing about the end of two decades of easy-money policies that supported stocks and the economy. Earnings reports should give investors insight into what comes next.The trend, in short, may no longer be your friend, and in such times, it is helpful to have an investing framework. JPMorgan Chase CEO Jamie Dimon recently provided one in his annual letter to shareholders.Dimon warned of the unprecedented risks facing the U.S. economy, ranging from persistent inflation, rising rates, the Covid-19 pandemic, and even the potential reordering of the world order. But he also offered some insight into the basic principles and strategies that he used to build his bank.“We strive to build enduring businesses, and we are not a conglomerate—all our businesses rely on and benefit from each other. Both of these factors help generate our superior returns,” Dimon wrote, offering investors a useful way to evaluate companies that are well run—and potentially worthy of long-term investments.Investors who are intrigued by this can take advantage of a strategy that we have long called “time arbitrage.” By selling short-term options on stocks that they can hold for a minimum of three to five years, investors can use present-day concerns to position to buy stocks that they are willing to warehouse.The challenge, now and always, is to think like a thematic, long-term investor even when market conditions and cross currents are disquieting.Consider Tesla. The electric-vehicle maker recently reported better-than-expected sales data. If last year’s date is indicative, the company will report earnings in late April. To preposition, investors could consider selling Tesla’s put options to potentially buy the stock on weakness.With Tesla’s stock at $1,045.76, investors could sell the May $900 put for about $31. The put sale positions them to buy the stock at $900. Should the stock be above $900 at expiration, investors can keep the options premium.The great risk is that the stock falls far below the put price, obligating investors to cover the put or to make adjustments to it in the options market to avoid assignment.During the past 52 weeks, the stock has ranged from $546.98 to $1,243.49. The company recently announced plans for a stock split “in the form of a stock dividend.” Tesla issued a 5-for-1 stock split in August 2020, but offered no details on the impending corporate action.The world is increasingly realizing electric vehicles are the future. The recent surge in oil and gasoline prices has probably accelerated this trend.Tesla pioneered the industry’s birth. The competitive moat might be narrowing as electric vehicles become more accepted, but Tesla founder and CEO Elon Musk has a mind of great singularity. He has seen the future. The short-term options trade outlined above is a way to monetize a long-term theme that will probably outlast economic and financial fluctuations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":154,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097863556,"gmtCreate":1645409377002,"gmtModify":1676534025454,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Sad","listText":"Sad","text":"Sad","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097863556","repostId":"1156667005","repostType":4,"repost":{"id":"1156667005","kind":"news","pubTimestamp":1645406596,"share":"https://ttm.financial/m/news/1156667005?lang=&edition=fundamental","pubTime":"2022-02-21 09:23","market":"other","language":"en","title":"Australian Shares Weighed down by Tech Stocks, Ukraine Tensions","url":"https://stock-news.laohu8.com/highlight/detail?id=1156667005","media":"Reuters","summary":"Feb 21 (Reuters) - Australian shares fell on Monday, dragged down by tech stocks and as tensions sur","content":"<html><head></head><body><p>Feb 21 (Reuters) - Australian shares fell on Monday, dragged down by tech stocks and as tensions surrounding Ukraine kept risk sentiment low globally, while AGL Energy soared after rejecting a $3.54 billion buyout offer.</p><p>The S&amp;P/ASX 200 index (.AXJO) was down 0.8% to 7,167 by 0030 GMT, extending losses after Friday&#39;s 1% drop.</p><p>Major indexes on Wall Street closed lower on Friday as escalating tensions in Ukraine and U.S. warnings of a potential Russian invasion kept markets on edge.</p><p>Most sectors were in negative territory in Australia, with technology stocks (.AXIJ) tracking their U.S. peers lower and leading losses on the domestic bourse.</p><p>Tyro Payments (TYR.AX) fell as much as 19% and was the top loser on the sub-index, after posting weaker-than-expected results.</p><p>Software firm Altium (ALU.AX) slumped 10.6% to a five-month low after issuing a downbeat margin guidance.</p><p>Meanwhile, AGL Energy rose 13% to its highest since July 19 after the power producer rejected a A$4.94 billion buyout offer from tech billionaire Mike Cannon-Brookes and Canada&#39;s Brookfield Asset Management (BAMa.TO).</p><p>Heavyweight financials (.AXFJ) fell 0.8%, with the so-called &#34;Big Four&#34; banks and buy now, pay later company Zip Co Ltd (Z1P.AX) leading the decline.</p><p>Fuel suppliers Ampol Ltd (ALD.AX) and Viva Energy (VEA.AX) fell 1.7% and 4.4%, respectively, even after posting full-year profits compared to year-ago losses.</p><p>Oil prices gained more than $1 in early trade on jitters over potential conflict between Russia and Ukraine, with the United States and European Union making clear Russia would face sanctions if it invaded its neighbour.</p><p>Among gainers, gold stocks (.AXGD) rose 1.2% on stronger bullion prices.</p><p>New Zealand&#39;s benchmark S&amp;P/NZX 50 index (.NZ50) slipped 0.5% to 12,080.94.</p><p>Shares of a2 Milk (ATM.NZ) rose 10.3% to their highest since Nov. 29, after the dairy producer said it expected second-half revenue to be significantly higher than a year earlier.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australian Shares Weighed down by Tech Stocks, Ukraine Tensions</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; 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralian Shares Weighed down by Tech Stocks, Ukraine Tensions\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-21 09:23 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.reuters.com/markets/stocks/australian-shares-weighed-down-by-tech-stocks-ukraine-tensions-2022-02-21/><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Feb 21 (Reuters) - Australian shares fell on Monday, dragged down by tech stocks and as tensions surrounding Ukraine kept risk sentiment low globally, while AGL Energy soared after rejecting a $3.54 ...</p>\n\n<a href=\"https://www.reuters.com/markets/stocks/australian-shares-weighed-down-by-tech-stocks-ukraine-tensions-2022-02-21/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XJO.AU":"标普/澳交所 200指数","XKO.AU":"标普/澳交所 300指数","XAO.AU":"标普/澳交所 普通股指数"},"source_url":"https://www.reuters.com/markets/stocks/australian-shares-weighed-down-by-tech-stocks-ukraine-tensions-2022-02-21/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156667005","content_text":"Feb 21 (Reuters) - Australian shares fell on Monday, dragged down by tech stocks and as tensions surrounding Ukraine kept risk sentiment low globally, while AGL Energy soared after rejecting a $3.54 billion buyout offer.The S&P/ASX 200 index (.AXJO) was down 0.8% to 7,167 by 0030 GMT, extending losses after Friday's 1% drop.Major indexes on Wall Street closed lower on Friday as escalating tensions in Ukraine and U.S. warnings of a potential Russian invasion kept markets on edge.Most sectors were in negative territory in Australia, with technology stocks (.AXIJ) tracking their U.S. peers lower and leading losses on the domestic bourse.Tyro Payments (TYR.AX) fell as much as 19% and was the top loser on the sub-index, after posting weaker-than-expected results.Software firm Altium (ALU.AX) slumped 10.6% to a five-month low after issuing a downbeat margin guidance.Meanwhile, AGL Energy rose 13% to its highest since July 19 after the power producer rejected a A$4.94 billion buyout offer from tech billionaire Mike Cannon-Brookes and Canada's Brookfield Asset Management (BAMa.TO).Heavyweight financials (.AXFJ) fell 0.8%, with the so-called \"Big Four\" banks and buy now, pay later company Zip Co Ltd (Z1P.AX) leading the decline.Fuel suppliers Ampol Ltd (ALD.AX) and Viva Energy (VEA.AX) fell 1.7% and 4.4%, respectively, even after posting full-year profits compared to year-ago losses.Oil prices gained more than $1 in early trade on jitters over potential conflict between Russia and Ukraine, with the United States and European Union making clear Russia would face sanctions if it invaded its neighbour.Among gainers, gold stocks (.AXGD) rose 1.2% on stronger bullion prices.New Zealand's benchmark S&P/NZX 50 index (.NZ50) slipped 0.5% to 12,080.94.Shares of a2 Milk (ATM.NZ) rose 10.3% to their highest since Nov. 29, after the dairy producer said it expected second-half revenue to be significantly higher than a year earlier.","news_type":1},"isVote":1,"tweetType":1,"viewCount":185,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097309193,"gmtCreate":1645325063711,"gmtModify":1676534018893,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Ok.. good","listText":"Ok.. good","text":"Ok.. good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097309193","repostId":"1171234681","repostType":4,"repost":{"id":"1171234681","kind":"news","pubTimestamp":1645324391,"share":"https://ttm.financial/m/news/1171234681?lang=&edition=fundamental","pubTime":"2022-02-20 10:33","market":"us","language":"en","title":"PayPal: Panic Time","url":"https://stock-news.laohu8.com/highlight/detail?id=1171234681","media":"Seeking Alpha","summary":"SummaryPayPal has executed well during the pandemic, but the market bid up shares to unreasonably hi","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>PayPal has executed well during the pandemic, but the market bid up shares to unreasonably high levels.</li><li>This has been corrected now, as shares have been falling for months.</li><li>Right now, PayPal actually trades at a huge discount compared to how the company was valued in the past. On top of that, shares are oversold from a technical perspective.</li><li>PYPL will likely deliver solid returns in the long run from the current level. But with markets in panic mode, investors might get an even better deal in the coming weeks.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0ab166f91943d608b9be67aa3068875b\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>Nattakorn Maneerat/iStock via Getty Images</span></p><p><b>Article Thesis</b></p><p>In the wake of a large-scale fintech sell-off, PayPal Holdings, Inc. (PYPL) has seen its shares drop tremendously over the last couple of months. From a very overvalued level, shares have now dropped to a<i>below-average</i>valuation. PayPal has a solid long-term growth outlook I believe, even though it&#39;s not as dominant as some other payment companies, such as Visa (V) or Mastercard (MA).</p><p>With the market seemingly in panic mode when it comes to PayPal, sending shares lower every day, investors with a long-term focus could benefit a lot from the current, pretty weak sentiment by buying when the market is fearful. One can argue that investors should wait for shares to bottom out before stepping into a position, but the current very oversold condition could make a bounce likely in the near term.</p><p><b>Fintechs As A COVID Play Get Decimated</b></p><p>During the first phase of the pandemic, some tech companies that were seen as pandemic beneficiaries saw their shares rally to new highs, even as the broad market was struggling. This included PayPal Holdings and many of its peers in the fintech industry. On the back of rising e-commerce sales, investors were convinced that PayPal and its peers would grow massively in the pandemic environment. And indeed, 2020 and 2021 were very solid years for PayPal:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/69f15186a44a5dd4ed9c51c88f089916\" tg-width=\"640\" tg-height=\"177\" width=\"100%\" height=\"auto\"/><span>PYPL results (Seeking Alpha)</span></p><p>We see that PayPal was able to grow its revenue by around 20%-30% between Q2 2020 and Q2 2021, i.e. during the first year of the pandemic. During the second half of 2021, growth slowed down but remained at a solid low-teens level. Looking at PYPL&#39;s share price history, the market was overreacting quite a lot to this compelling underlying growth. PYPL&#39;s shares did not rise by 20% or 30% in 2020 and 2021. Instead, shares climbed from $108 at the beginning of 2020 to $310 at the peak, which equates to a 190% increase in its share price. This was clearly not warranted by the underlying growth the company experienced. Instead, these huge share price gains were primarily driven by massive multiple expansion. That is a great thing to happen for those that bought<i>before</i>multiples started to expand and that sold at the top. But for those that bought at historically high valuations, the story is different. Despite the fact that PayPal has continued to deliver solid business growth in the last two quarters, those that bought at the highs have seen their investment crash by around 70% -- it will take a 200% increase in PayPal&#39;s share price for them to break even. Valuations don&#39;t matter until they do, and those that chased PYPL without considering the high valuation paid the price.</p><p>For those that remained on the sidelines, or that locked in gains on the way up, the recent massive pullback could provide for a compelling entry point, however. In 2022 alone, PayPal has dropped by 42%, and the company has lost about $240 billion in market capitalization from the highs seen last year. PayPal is not alone in that, however. Instead, many other &#34;bubbly&#34;, overly expensive pandemic favorites among the fintech names have performed badly in recent months as well:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6cc5112c8148e2002b115c26a5bbcc82\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>SoFi Technologies (SOFI), Upstart Holdings (UPST), and LendingClub (LC) all saw their shares drop by 50% to 60%+ from the highs they hit last year. PayPal thus is not an outlier. Instead, it has performed more or less in line with how some of its peers performed. The whole industry was trading at unreasonable levels last year and has now been correcting for months.</p><p><b>PayPal&#39;s Growth Potential In The Coming Years</b></p><p>PayPal is a household name with strong brand recognition and belongs to the largest payment companies in the world. Its total payment volume has easily surpassed $1 trillion in 2021:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d51862081c9cf6247687e326e453b5ae\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"/><span>PYPL TPV and revenue (PYPL presentation)</span></p><p>With total payment volume at $1.25 trillion in 2021, PayPal is still substantially smaller than some of the credit card giants such as Visa (which has TPV of around $3 trillion per quarter) or Mastercard, but outside of those two, PayPal is a leading player in the payment space. PayPal also managed to grow its payment volume at an attractive pace in 2021, at 33%.</p><p>Revenue, meanwhile, grew by 18% in 2021. That&#39;s a very solid growth rate in absolute terms, but at the same time, the substantial discrepancy between PayPal&#39;s TPV growth and its revenue growth shows that the company&#39;s take rate continues to decline -- which naturally isn&#39;t positive at all. As long as TPV continues to grow at a rapid pace, revenues should continue to grow, however.</p><p>For 2022, PayPal is forecasting payment volumes of $1.5 trillion, or about 20% more than in 2021. Revenues are expected to climb by around 16% this year. On one hand, this means that the take rate will continue to shrink, as revenues will underperform TPV growth again. But the discrepancy will be lower than in 2021, which indicates that the take rate is declining at a slower pace this year. If PayPal manages to stop the take rate declines eventually, that would be a very positive development, as it would allow the company to grow its revenue in line with future TPV growth.</p><p>The overall payment volume growth outlook for PayPal is solid beyond 2022 as well. E-commerce spending will continue to grow around the globe, with projections seeing double-digit growth in 2023, 2024, and 2025:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/932fd874fee815df965356ecf97b8a7b\" tg-width=\"640\" tg-height=\"482\" width=\"100%\" height=\"auto\"/><span>E-commerce growth (statista.com)</span></p><p>With global e-commerce sales continuing to grow, fintech companies and payment solution players such as PayPal operate with steady macro tailwinds. In other areas, the macro outlook is positive as well. In a world that grows ever more connected, cross-border payment volumes should continue to climb. Here, PayPal is advantaged to benefit from market growth, as its technology and availability in many different countries positions it well to be one of the top players in processing these growing cross-border payment volumes.</p><p>With PayPal adding new users constantly (10 million during the most recent quarter alone), it should be able to grow its payment volumes at an attractive pace for many years. With more and more consumers around the world accessing the internet, PayPal still has significant growth potential when it comes to the number of customers it serves.</p><p><b>PayPal&#39;s Valuation: Getting Very Reasonable</b></p><p>PayPal always was seen as a growth company, thus its shares never were particularly cheap. Even before shares moved upwards at a rapid pace in 2020 and 2021, PayPal used to be a pricy stock:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c635d0171bdf0e0509b5256c5a6ddc93\" tg-width=\"635\" tg-height=\"467\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>The 5-year and 7-year median earnings multiples are in the 50s. At the heights during the COVID bubble, PayPal was even more expensive, however. At a peak price of $310 in 2021, shares were valued at around 70x 2021&#39;s earnings per share -- it is not surprising that buying at that valuation didn&#39;t work out for investors.</p><p>Likewise, PayPal always traded with a relatively high EV/EBITDA multiple, with the longer-term median readings standing at around 30. During the heights in 2021, shares were even more expensive.</p><p>With shares dropping to just above $100, they have become way more reasonably valued, however. Based on current expectations, shares are, in fact, trading at a huge discount compared to how PYPL was valued in the past:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce761bb96d4dc960244e62cf168ccaa4\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>Shares are trading for 23x this year&#39;s expected earnings per share, while the earnings multiple based on next year&#39;s expected EPS is just 18. Likewise, the EV/EBITDA multiple is standing at just 17 today. These valuations are roughly half as high as the longer-term median valuations shown above. One can argue, of course, that PYPL always was too expensive when it traded at 50x earnings or higher in the past, and that seems like a very reasonable argument to me. On top of that, investors should also consider that the law of large numbers dictates that PayPal&#39;s growth in the coming years will likely be weaker than over the last five years. 2022 will also be a year during which PayPal will not grow its earnings per share meaningfully, despite solid revenue growth being expected, which can be explained by management&#39;s plan to invest in growth initiatives such as its Pay Later offerings.</p><p>There are thus good reasons to believe that PayPal will never again trade at 50x net profits, but the current valuation nevertheless seems far from high. A company that grows its revenue at double-digits and that will likely do so for years, and that trades at just above 20x net profits, seems like a very reasonable value to me.</p><p><b>Things To Consider</b></p><p>PayPal has ramped up its buybacks in Q4, returning $1.5 billion to its owners via share repurchases in that quarter alone ($3.4 billion in all of 2021). With shares becoming way less expensive in 2022 so far, PayPal hopefully will ramp up its buybacks further. Shares have dropped more than 40% so far this year, which means that buybacks at current prices are way more powerful than they were last year. In retrospect, timing with buybacks in 2021 has not been great at all, but the company&#39;s interest in returning cash to its owners via buybacks generally is positive. If PayPal keeps that going, the share count could shrink quite a lot this year and beyond.</p><p>From a technical perspective, PayPal&#39;s shares are oversold in the short term. The stock&#39;s relative strength index stands at an abysmally low21right now, with RSI readings below 30 generally suggesting that shares are oversold. From a technical perspective, a bounce would thus not be overly surprising. On the other hand, there&#39;s the old adage of never trying to catch a falling knife -- and PYPL surely is a falling knife right now. Since markets are still pretty jittery due to macro factors such as Fed policy, the Ukraine situation, etc. it seems very much possible that PYPL will fall under $100 in the coming days or weeks. Waiting for an even more opportune entry point could thus pay off.</p><p><b>Takeaway</b></p><p>During the pandemic, PYPL was bid up to bubble levels. Over the last couple of months, however, the market seems to be in panic mode -- shares have sold off massively, with them dropping more than 40% in 2022 alone. Shares have fallen through their historical valuation ranges and are now trading at a huge discount compared to how PYPL was valued in the past. From a technical perspective, shares are way oversold as well.</p><p>I do believe that PayPal is very reasonably valued today and that there is a good chance that investors will see healthy returns over the coming years when they buy today. But waiting for an even better entry point could allow for even better returns. Since markets are willing to sell fintech companies at any price right now, even lower entry points would not be a large surprise, I believe.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal: Panic Time</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\">\nPayPal: Panic Time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-20 10:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4488266-paypal-stock-price-valuation-panic-time><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryPayPal has executed well during the pandemic, but the market bid up shares to unreasonably high levels.This has been corrected now, as shares have been falling for months.Right now, PayPal ...</p>\n\n<a href=\"https://seekingalpha.com/article/4488266-paypal-stock-price-valuation-panic-time\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://seekingalpha.com/article/4488266-paypal-stock-price-valuation-panic-time","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171234681","content_text":"SummaryPayPal has executed well during the pandemic, but the market bid up shares to unreasonably high levels.This has been corrected now, as shares have been falling for months.Right now, PayPal actually trades at a huge discount compared to how the company was valued in the past. On top of that, shares are oversold from a technical perspective.PYPL will likely deliver solid returns in the long run from the current level. But with markets in panic mode, investors might get an even better deal in the coming weeks.Nattakorn Maneerat/iStock via Getty ImagesArticle ThesisIn the wake of a large-scale fintech sell-off, PayPal Holdings, Inc. (PYPL) has seen its shares drop tremendously over the last couple of months. From a very overvalued level, shares have now dropped to abelow-averagevaluation. PayPal has a solid long-term growth outlook I believe, even though it's not as dominant as some other payment companies, such as Visa (V) or Mastercard (MA).With the market seemingly in panic mode when it comes to PayPal, sending shares lower every day, investors with a long-term focus could benefit a lot from the current, pretty weak sentiment by buying when the market is fearful. One can argue that investors should wait for shares to bottom out before stepping into a position, but the current very oversold condition could make a bounce likely in the near term.Fintechs As A COVID Play Get DecimatedDuring the first phase of the pandemic, some tech companies that were seen as pandemic beneficiaries saw their shares rally to new highs, even as the broad market was struggling. This included PayPal Holdings and many of its peers in the fintech industry. On the back of rising e-commerce sales, investors were convinced that PayPal and its peers would grow massively in the pandemic environment. And indeed, 2020 and 2021 were very solid years for PayPal:PYPL results (Seeking Alpha)We see that PayPal was able to grow its revenue by around 20%-30% between Q2 2020 and Q2 2021, i.e. during the first year of the pandemic. During the second half of 2021, growth slowed down but remained at a solid low-teens level. Looking at PYPL's share price history, the market was overreacting quite a lot to this compelling underlying growth. PYPL's shares did not rise by 20% or 30% in 2020 and 2021. Instead, shares climbed from $108 at the beginning of 2020 to $310 at the peak, which equates to a 190% increase in its share price. This was clearly not warranted by the underlying growth the company experienced. Instead, these huge share price gains were primarily driven by massive multiple expansion. That is a great thing to happen for those that boughtbeforemultiples started to expand and that sold at the top. But for those that bought at historically high valuations, the story is different. Despite the fact that PayPal has continued to deliver solid business growth in the last two quarters, those that bought at the highs have seen their investment crash by around 70% -- it will take a 200% increase in PayPal's share price for them to break even. Valuations don't matter until they do, and those that chased PYPL without considering the high valuation paid the price.For those that remained on the sidelines, or that locked in gains on the way up, the recent massive pullback could provide for a compelling entry point, however. In 2022 alone, PayPal has dropped by 42%, and the company has lost about $240 billion in market capitalization from the highs seen last year. PayPal is not alone in that, however. Instead, many other \"bubbly\", overly expensive pandemic favorites among the fintech names have performed badly in recent months as well:Data by YChartsSoFi Technologies (SOFI), Upstart Holdings (UPST), and LendingClub (LC) all saw their shares drop by 50% to 60%+ from the highs they hit last year. PayPal thus is not an outlier. Instead, it has performed more or less in line with how some of its peers performed. The whole industry was trading at unreasonable levels last year and has now been correcting for months.PayPal's Growth Potential In The Coming YearsPayPal is a household name with strong brand recognition and belongs to the largest payment companies in the world. Its total payment volume has easily surpassed $1 trillion in 2021:PYPL TPV and revenue (PYPL presentation)With total payment volume at $1.25 trillion in 2021, PayPal is still substantially smaller than some of the credit card giants such as Visa (which has TPV of around $3 trillion per quarter) or Mastercard, but outside of those two, PayPal is a leading player in the payment space. PayPal also managed to grow its payment volume at an attractive pace in 2021, at 33%.Revenue, meanwhile, grew by 18% in 2021. That's a very solid growth rate in absolute terms, but at the same time, the substantial discrepancy between PayPal's TPV growth and its revenue growth shows that the company's take rate continues to decline -- which naturally isn't positive at all. As long as TPV continues to grow at a rapid pace, revenues should continue to grow, however.For 2022, PayPal is forecasting payment volumes of $1.5 trillion, or about 20% more than in 2021. Revenues are expected to climb by around 16% this year. On one hand, this means that the take rate will continue to shrink, as revenues will underperform TPV growth again. But the discrepancy will be lower than in 2021, which indicates that the take rate is declining at a slower pace this year. If PayPal manages to stop the take rate declines eventually, that would be a very positive development, as it would allow the company to grow its revenue in line with future TPV growth.The overall payment volume growth outlook for PayPal is solid beyond 2022 as well. E-commerce spending will continue to grow around the globe, with projections seeing double-digit growth in 2023, 2024, and 2025:E-commerce growth (statista.com)With global e-commerce sales continuing to grow, fintech companies and payment solution players such as PayPal operate with steady macro tailwinds. In other areas, the macro outlook is positive as well. In a world that grows ever more connected, cross-border payment volumes should continue to climb. Here, PayPal is advantaged to benefit from market growth, as its technology and availability in many different countries positions it well to be one of the top players in processing these growing cross-border payment volumes.With PayPal adding new users constantly (10 million during the most recent quarter alone), it should be able to grow its payment volumes at an attractive pace for many years. With more and more consumers around the world accessing the internet, PayPal still has significant growth potential when it comes to the number of customers it serves.PayPal's Valuation: Getting Very ReasonablePayPal always was seen as a growth company, thus its shares never were particularly cheap. Even before shares moved upwards at a rapid pace in 2020 and 2021, PayPal used to be a pricy stock:Data by YChartsThe 5-year and 7-year median earnings multiples are in the 50s. At the heights during the COVID bubble, PayPal was even more expensive, however. At a peak price of $310 in 2021, shares were valued at around 70x 2021's earnings per share -- it is not surprising that buying at that valuation didn't work out for investors.Likewise, PayPal always traded with a relatively high EV/EBITDA multiple, with the longer-term median readings standing at around 30. During the heights in 2021, shares were even more expensive.With shares dropping to just above $100, they have become way more reasonably valued, however. Based on current expectations, shares are, in fact, trading at a huge discount compared to how PYPL was valued in the past:Data by YChartsShares are trading for 23x this year's expected earnings per share, while the earnings multiple based on next year's expected EPS is just 18. Likewise, the EV/EBITDA multiple is standing at just 17 today. These valuations are roughly half as high as the longer-term median valuations shown above. One can argue, of course, that PYPL always was too expensive when it traded at 50x earnings or higher in the past, and that seems like a very reasonable argument to me. On top of that, investors should also consider that the law of large numbers dictates that PayPal's growth in the coming years will likely be weaker than over the last five years. 2022 will also be a year during which PayPal will not grow its earnings per share meaningfully, despite solid revenue growth being expected, which can be explained by management's plan to invest in growth initiatives such as its Pay Later offerings.There are thus good reasons to believe that PayPal will never again trade at 50x net profits, but the current valuation nevertheless seems far from high. A company that grows its revenue at double-digits and that will likely do so for years, and that trades at just above 20x net profits, seems like a very reasonable value to me.Things To ConsiderPayPal has ramped up its buybacks in Q4, returning $1.5 billion to its owners via share repurchases in that quarter alone ($3.4 billion in all of 2021). With shares becoming way less expensive in 2022 so far, PayPal hopefully will ramp up its buybacks further. Shares have dropped more than 40% so far this year, which means that buybacks at current prices are way more powerful than they were last year. In retrospect, timing with buybacks in 2021 has not been great at all, but the company's interest in returning cash to its owners via buybacks generally is positive. If PayPal keeps that going, the share count could shrink quite a lot this year and beyond.From a technical perspective, PayPal's shares are oversold in the short term. The stock's relative strength index stands at an abysmally low21right now, with RSI readings below 30 generally suggesting that shares are oversold. From a technical perspective, a bounce would thus not be overly surprising. On the other hand, there's the old adage of never trying to catch a falling knife -- and PYPL surely is a falling knife right now. Since markets are still pretty jittery due to macro factors such as Fed policy, the Ukraine situation, etc. it seems very much possible that PYPL will fall under $100 in the coming days or weeks. Waiting for an even more opportune entry point could thus pay off.TakeawayDuring the pandemic, PYPL was bid up to bubble levels. Over the last couple of months, however, the market seems to be in panic mode -- shares have sold off massively, with them dropping more than 40% in 2022 alone. Shares have fallen through their historical valuation ranges and are now trading at a huge discount compared to how PYPL was valued in the past. From a technical perspective, shares are way oversold as well.I do believe that PayPal is very reasonably valued today and that there is a good chance that investors will see healthy returns over the coming years when they buy today. But waiting for an even better entry point could allow for even better returns. Since markets are willing to sell fintech companies at any price right now, even lower entry points would not be a large surprise, I believe.","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":881886497,"gmtCreate":1631323810619,"gmtModify":1676530528239,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Down to the&nbsp;hill.","listText":"Down to the&nbsp;hill.","text":"Down to the hill.","images":[{"img":"https://static.tigerbbs.com/577fb846ccdc5167ebd11e153005dad3","width":"750","height":"1815"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/881886497","isVote":1,"tweetType":1,"viewCount":422,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":817744839,"gmtCreate":1630993065421,"gmtModify":1676530437248,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Hope up on this week..","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Hope up on this week..","text":"$Tiger Brokers(TIGR)$Hope up on this week..","images":[{"img":"https://static.tigerbbs.com/18eb6f2fbbd5504d658e330a239e1508","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/817744839","isVote":1,"tweetType":1,"viewCount":673,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":814744610,"gmtCreate":1630887757530,"gmtModify":1676530411207,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Didi May&nbsp;not reach back initial price?","listText":"Didi May&nbsp;not reach back initial price?","text":"Didi May not reach back initial price?","images":[{"img":"https://static.tigerbbs.com/53a5062edd318216168b994d73dbd06d","width":"750","height":"1815"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/814744610","isVote":1,"tweetType":1,"viewCount":605,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":810753105,"gmtCreate":1630018519107,"gmtModify":1676530199261,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Too long in sleeping&nbsp;","listText":"Too long in sleeping&nbsp;","text":"Too long in sleeping","images":[{"img":"https://static.tigerbbs.com/f78f3ae62057b3dfcae2d2798d705f18","width":"750","height":"1760"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/810753105","isVote":1,"tweetType":1,"viewCount":283,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":837767722,"gmtCreate":1629929959366,"gmtModify":1676530172439,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Wave form","listText":"Wave form","text":"Wave 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please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":8,"repostSize":0,"link":"https://ttm.financial/post/351440934","repostId":"1159624378","repostType":4,"repost":{"id":"1159624378","kind":"news","pubTimestamp":1616601355,"share":"https://ttm.financial/m/news/1159624378?lang=&edition=fundamental","pubTime":"2021-03-24 23:55","market":"us","language":"en","title":"Fauci says AstraZeneca will likely issue modified statement on Covid vaccine","url":"https://stock-news.laohu8.com/highlight/detail?id=1159624378","media":"cnbc","summary":"KEY POINTS\n\nAstraZeneca will likely release a modified statement regarding its Covid-19 vaccine, Whi","content":"<div>\n<p>KEY POINTS\n\nAstraZeneca will likely release a modified statement regarding its Covid-19 vaccine, White House chief medical advisor Dr. Anthony Fauci said.\nOfficials released a statement that said it ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/24/covid-vaccine-fauci-says-astrazeneca-will-likely-issue-modified-statement.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Fauci says AstraZeneca will likely issue modified statement on Covid vaccine</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\">\nFauci says AstraZeneca will likely issue modified statement on Covid vaccine\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-24 23:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/24/covid-vaccine-fauci-says-astrazeneca-will-likely-issue-modified-statement.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nAstraZeneca will likely release a modified statement regarding its Covid-19 vaccine, White House chief medical advisor Dr. Anthony Fauci said.\nOfficials released a statement that said it ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/24/covid-vaccine-fauci-says-astrazeneca-will-likely-issue-modified-statement.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AZN.UK":"阿斯利康制药","AZN":"阿斯利康"},"source_url":"https://www.cnbc.com/2021/03/24/covid-vaccine-fauci-says-astrazeneca-will-likely-issue-modified-statement.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1159624378","content_text":"KEY POINTS\n\nAstraZeneca will likely release a modified statement regarding its Covid-19 vaccine, White House chief medical advisor Dr. Anthony Fauci said.\nOfficials released a statement that said it was informed by a data and safety monitoring board that the company may have included outdated information in its results.\nThe company is now working with the DSMB and “will likely come out with a modified statement,” Fauci told reporters.\n\nAstraZeneca will likely release a modified statement regarding its Covid-19 vaccine after the accuracy of the company’s clinical trials results were thrown into question earlier this week, White House chief medical advisor Dr. Anthony Fauci said Wednesday.\nThe company on Monday announced the long-awaited results of its phase three clinical trial of the Covid-19 vaccine it developed with the University of Oxford, saying it was 79% effective in preventing symptomatic illness and 100% effective against severe disease and hospitalization.\nThe next day, the National Institute of Allergy and Infectious Diseases released an unusual statement that said it was informed by the data and safety monitoring board overseeing the trial that the U.K.-based company may have included information in its U.S. results that provided an “incomplete view of the efficacy data.”\nFauci, the director of the NIAID, said the DSMB raised concerns with the U.S. agency because it felt the results in AstraZeneca’s press release looked more favorable than more recent data from the vaccine study had shown, according to STAT News.\nThe company is now working with the DSMB and “will likely come out with a modified statement,” Fauci told reporters Wednesday during a White House news briefing on the pandemic.\nExperts on public health and vaccines told CNBC that AstraZeneca’s data hiccup is just the latest example in a series of blunders by the company that could affect people’s willingness to take the vaccine, which may be authorized for use in the U.S. as early as next month.\nPresident Joe Biden’s senior advisor on the pandemic, Andy Slavitt, tried to reassure Americans about the vaccines on Tuesday, telling CNN, “the public should rest assured that nothing will get approved unless the FDA does a thorough analysis of this data.”\nWhen AstraZeneca’s vaccine goes through FDA review, the agency “will render a judgment on both what the data says, or what it’s saying, and also whether or not it will be approved. And so until that time, this is all just stuff that will happen in the background,” Slavitt said. “We believe that this transparency and the scientific independence is vital for public trust.”\nAstraZeneca’s vaccine is already authorized for use in other countries. The company said in a statement Tuesday that it intended to issue results from its primary analysis of the Covid-19 vaccine “within 48 hours.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":62,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3568616560578435","authorId":"3568616560578435","name":"TraderGoh","avatar":"https://community-static.tradeup.com/news/8cf7cb21210627baac9b46c649163635","crmLevel":6,"crmLevelSwitch":1,"idStr":"3568616560578435","authorIdStr":"3568616560578435"},"content":"Comment for comment","text":"Comment for comment","html":"Comment for comment"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":190940256,"gmtCreate":1620575241475,"gmtModify":1704345103764,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a>actually this is the only green so far.","listText":"<a href=\"https://laohu8.com/S/MU\">$Micron Technology(MU)$</a>actually this is the only green so far.","text":"$Micron Technology(MU)$actually this is the only green so far.","images":[{"img":"https://static.tigerbbs.com/793be7f0e2ca4017d13a8ca50d1c0335","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/190940256","isVote":1,"tweetType":1,"viewCount":827,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3573162818118967","authorId":"3573162818118967","name":"Pepeflabs","avatar":"https://static.tigerbbs.com/bb2ce4a85b6af8ab6f45834a991797c6","crmLevel":3,"crmLevelSwitch":1,"idStr":"3573162818118967","authorIdStr":"3573162818118967"},"content":"feel u bro, i also only have one green position","text":"feel u bro, i also only have one green position","html":"feel u bro, i also only have one green position"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":348855160,"gmtCreate":1617921185450,"gmtModify":1704704731813,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"ETF way.","listText":"ETF way.","text":"ETF way.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":6,"repostSize":0,"link":"https://ttm.financial/post/348855160","repostId":"1112389819","repostType":4,"repost":{"id":"1112389819","kind":"news","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1617854410,"share":"https://ttm.financial/m/news/1112389819?lang=&edition=fundamental","pubTime":"2021-04-08 12:00","market":"us","language":"en","title":"Cathie Wood Adds These Stocks To The Newly-Created Space Exploration ETF And Others","url":"https://stock-news.laohu8.com/highlight/detail?id=1112389819","media":"Benzinga","summary":"Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were ","content":"<p>Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm's ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 35 stocks that the hedge fund bought and sold on Wednesday.</p>\n<p>Trades For<b>ArkSpace Exploration &amp; Innovation ETF</b>ARKX 1.32%:</p>\n<p><b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 141,100 shares of the blank check company, representing about 0.2503% of the ETF.</p>\n<p>Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p>\n<p><b>Jaws Spitfire Acquisition Corp</b>SPFR 0.38%: Bought 241,618 shares of the blank check company, representing about 0.4389% of the ETF.</p>\n<p>Jaws stock closed 0.3% higher at $10.46 on Wednesday and rose 1.91% in the after-hours. It has a 52-week high of $12.10 and low of $9.95.</p>\n<p><b>Iridium Communications Inc</b>IRDM 2.05%: Bought 35,963 shares of the mobile<b>satellite communications</b>services, representing about 0.2525% of the ETF.</p>\n<p><i>See Also:The First 39 Companies In Cathie Wood's Ark Invest Space ETF</i></p>\n<p>Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p>\n<p><b>Reinvent Technology Partners</b>RTP 0.2%: Bought 140,900 shares of the blank-check company, representing 0.2496% of the ETF.</p>\n<p>Reinvent shares closed 0.39% lower at $10.11 and were up 1% in after-hours trading. The stock has a 52-week high of $17 and low of $9.86.</p>\n<p><b>Teradyne Inc</b>TER 0.45%: Sold 11,302 shares of the equipment design and manufacturing company, representing about 0.259% of the ETF.</p>\n<p>Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p>\n<p><b>Deere &amp; Co</b>DE 0.28%: Sold 7,781 shares of the agriculture, construction and forestry equipment maker, representing about 0.5072% of the ETF.</p>\n<p>Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p>\n<p><b>AeroVironment Inc</b>AVAV 3.44%: Sold 5,100 shares in the California-headquartered defense contractor, representing about 0.10% of the ETF.</p>\n<p>AeroVironment stock closed 3.44% lower at $113.37 on Wednesday. It has a 52-week high of $143.72 and low of $53.15.</p>\n<p><b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 28,749 shares in the semiconductor manufacturing and design company, representing about 0.603% of the ETF.</p>\n<p>Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p>\n<p>Trades For<b>Ark Fintech Innovation ETF</b>ARKF 1.24%:</p>\n<p><b>Base Inc</b>BAINF 0.97%: Bought 313,000 shares in Tokyo of the online services company that develops and builds e-commerce platforms, representing about 0.1195% of the ETF.</p>\n<p>Base OTC stock closed 0.97% higher at $15.65 on Wednesday. It has a 52-week high of $179 and low of $14.61.</p>\n<p><b>Yeahka Ltd</b>YHEKF: Bought 997,200 shares in Hong Kong of the payment-based technology platform, representing about 0.18% of the ETF.</p>\n<p>Yeahka stock closed 0.64% lower at $7.75 on Wednesday. It has a 52-week high of $15.28 and low of $4.78.</p>\n<p><b>LendingClub Corp</b>LC 0.95%: Bought 204,348 shares of the peer-to-peer lending company, representing about 0.0789% of the ETF.</p>\n<p>LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p>\n<p><b>LendingTree Inc</b>TREE 5.34%: Sold 15,762 shares of the online lending marketplace company, representing about 0.0824% of the ETF.</p>\n<p>LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</p>\n<p>Trades For<b>Ark Genomic Revolution ETF</b>ARKG 3.26%:</p>\n<p><b>10X Genomics Inc</b>TXG 6.03%: Bought 78,908 shares of the gene sequencing biotechnology company, representing about 0.1526% of the ETF.</p>\n<p>10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p>\n<p><b>Signify Health Inc</b>SGFY 3.65%: Bought 182,193 shares of the healthcare tech company, representing about 0.0508% of the ETF.</p>\n<p>Signify shares closed 4.08% lower at $26.35 on Wednesday and were up 0.53% in after-hours. It has a 52-week high of $40.79 and low of $22.13.</p>\n<p><b>Repare Therapeutics Inc</b>RPTX 0.78%: Bought 10,700 shares of the Canadian oncology company, representing about 0.0035% of the ETF.</p>\n<p>Repare stock closed 0.78% higher at $30.96 on Wednesday. It has a 52-week high of $46.44 and low of $21.45.</p>\n<p><b>908 Devices Inc</b>MASS 6.18%: Bought 51,661 shares of the purpose-built handheld and devices for chemical and biomolecular analysis maker, representing about 0.0273% of the ETF.</p>\n<p>908 Devices stock closed 6.18% lower at $46.95 on Wednesday. It has a 52-week high of $79.60 and low of $38.88.</p>\n<p><b>Pluristem Therapeutics Inc</b>PSTI 2.09%: Sold 2,220 shares of the Israel-based stemcell company, representing about 0.0001% of the ETF.</p>\n<p>Pluristem stock closed 2.09% higher at $4.89 on Wednesday. It has a 52-week high of $13.29 and low of $3.95.</p>\n<p>Trades For<b>ArkInnovation ETF</b>ARKK 2.33%:</p>\n<p><b>Zoom Video Communications Inc</b>ZM 2.03%: Bought 98,500 shares of the video calling company, representing about 0.1326% of the ETF.</p>\n<p>Zoom stock closed 2.03% lower at $323.08 on Wednesday. It has a 52-week high of $588.84 and low of $109.57.</p>\n<p><b>10X Genomics Inc</b>TXG 6.03%: Bought 111,047 shares of the gene sequencing biotechnology company, representing about 0.0865% of the ETF.</p>\n<p>10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p>\n<p><b>Trimble Inc</b>TRMB 3.84%: Bought 237,782 shares of the California-based hardware, software and services technology company, representing about 0.0813% of the ETF.</p>\n<p>Trimble shares closed 3.84% lower at $79.74 on Wednesday. It has a 52-week high of $84.86 and low of $30.87.</p>\n<p><b>Palantir Technologies Inc</b>PLTR 1.57%: Bought 1,045,600 shares of the big data analytics company, representing about 0.1007% of the ETF.</p>\n<p>Palantir shares closed 1.59% lower at $22.90 on Wednesday and rose 1.05% in the after-hours. It has a 52-week high of $45 and low of $8.90.</p>\n<p><b>Docusign Inc</b>DOCU: Bought 103,783 shares of the online signature services company, representing about 0.0891% of the ETF.</p>\n<p>Docusign shares closed flat at $205.71 on Wednesday and were up 0.63% in after-hours trading. The stock has a 52-week high of $290.23 and low of $85.84.</p>\n<p><b>DraftKings Inc</b>DKNG 2.68%: Bought 610,847 shares of the daily fantasy sports company, representing about 0.1595% of the ETF.</p>\n<p>DraftKings shares closed 2.68% lower at $62.09 on Wednesday and were up 0.64% in the after-hours. It has a 52-week high of $74.38 and low of $12.68.</p>\n<p>Trades for<b>ARK Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ):</p>\n<p><b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 71,635 shares of the blank check company, representing about 0.0214% of the ETF.</p>\n<p>Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p>\n<p><b>Alphabet Inc</b>GOOGL 1.35%GOOG 1.12%: Sold 16,651 Class C shares of the Google parent company, representing about 1.10% of the ETF.</p>\n<p>Alphabet shares closed 1.35% higher at $2239.03 on Wednesday and were up 0.40% in the after-hours. The stock has a 52-week high of $2,244.50 and low of $1,177.25.</p>\n<p><b>Iridium Communications Inc</b>IRDM 2.05%: Bought 59,521 shares of the mobile<b>satellite communications</b>services, representing about 0.0705% of the ETF.</p>\n<p>Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p>\n<p><b>Kratos Defense &amp; Security Solutions</b>KTOS 2.34%: Bought 313,506 shares of the U.S. defense contractor and security systems integrator company, representing about 0.2583% of the company.</p>\n<p>Kratos Defense shares closed 2.34% lower at $27.97 on Wednesday and were up 1.07% in the after-hours. The stock has a 52-week high of $34.11 and low of $13.34.</p>\n<p><b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 97,700 shares in the semiconductor manufacturing and design company, representing about 0.3467% of the ETF.</p>\n<p>Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p>\n<p><b>Teradyne Inc</b>TER 0.45%: Sold 98,161 shares of the equipment design and manufacturing company, representing about 0.3802% of the ETF.</p>\n<p>Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p>\n<p><b>Deere &amp; Co</b>DE 0.28%: Sold 37,795 shares of the agriculture, construction and forestry equipment maker, representing about 0.4162% of the ETF.</p>\n<p>Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p>\n<p><b>Caterpillar Inc</b>CAT 0.11%: Sold 59,610 shares of the agriculture, construction, mining and forestry equipment maker, representing about 0.4051% of the ETF.</p>\n<p>Caterpillar shares closed 0.1% lower at $230.41.The stock has a 52-week high of $237.78 and low of $100.22.</p>\n<p>Trades For<b>ARK Next Generation Internet ETF</b>ARKW 1.62%</p>\n<p><b>Trade Desk Inc</b>TTD 1.23%: Bought 23,750 shares of the technology platform for ad buyers company, representing about 0.23% of the ETF.</p>\n<p>Trade Desk shares closed 1.23% higher at $677.87 on Wednesday and were up 0.31% in after-hours. It has a 52-week high of $972.80 and low of $190.29.</p>\n<p><b>LendingClub Corp</b>LC 0.95%: Bought 150,245 shares of the peer-to-peer lending company, representing about 0.0337% of the ETF.</p>\n<p>LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p>\n<p><b>Synopsys Inc</b>SNPS 0.14%: Sold 70,396 shares of the electronic design automation company, representing about 0.2588% of the ETF.</p>\n<p>Synopsys shares closed 0.14% lower at $257 on Wednesday. It has a 52-week high of $300.91 and low of $133.27.</p>\n<p><b>LendingTree Inc</b>TREE 5.34%: Sold 12,129 shares of the online lending marketplace company, representing about 0.0406% of the ETF.</p>\n<p>LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</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>Cathie Wood Adds These Stocks To The Newly-Created Space Exploration ETF And Others</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\">\nCathie Wood Adds These Stocks To The Newly-Created Space Exploration ETF And Others\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-04-08 12:00</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm's ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 35 stocks that the hedge fund bought and sold on Wednesday.</p>\n<p>Trades For<b>ArkSpace Exploration &amp; Innovation ETF</b>ARKX 1.32%:</p>\n<p><b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 141,100 shares of the blank check company, representing about 0.2503% of the ETF.</p>\n<p>Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p>\n<p><b>Jaws Spitfire Acquisition Corp</b>SPFR 0.38%: Bought 241,618 shares of the blank check company, representing about 0.4389% of the ETF.</p>\n<p>Jaws stock closed 0.3% higher at $10.46 on Wednesday and rose 1.91% in the after-hours. It has a 52-week high of $12.10 and low of $9.95.</p>\n<p><b>Iridium Communications Inc</b>IRDM 2.05%: Bought 35,963 shares of the mobile<b>satellite communications</b>services, representing about 0.2525% of the ETF.</p>\n<p><i>See Also:The First 39 Companies In Cathie Wood's Ark Invest Space ETF</i></p>\n<p>Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p>\n<p><b>Reinvent Technology Partners</b>RTP 0.2%: Bought 140,900 shares of the blank-check company, representing 0.2496% of the ETF.</p>\n<p>Reinvent shares closed 0.39% lower at $10.11 and were up 1% in after-hours trading. The stock has a 52-week high of $17 and low of $9.86.</p>\n<p><b>Teradyne Inc</b>TER 0.45%: Sold 11,302 shares of the equipment design and manufacturing company, representing about 0.259% of the ETF.</p>\n<p>Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p>\n<p><b>Deere &amp; Co</b>DE 0.28%: Sold 7,781 shares of the agriculture, construction and forestry equipment maker, representing about 0.5072% of the ETF.</p>\n<p>Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p>\n<p><b>AeroVironment Inc</b>AVAV 3.44%: Sold 5,100 shares in the California-headquartered defense contractor, representing about 0.10% of the ETF.</p>\n<p>AeroVironment stock closed 3.44% lower at $113.37 on Wednesday. It has a 52-week high of $143.72 and low of $53.15.</p>\n<p><b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 28,749 shares in the semiconductor manufacturing and design company, representing about 0.603% of the ETF.</p>\n<p>Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p>\n<p>Trades For<b>Ark Fintech Innovation ETF</b>ARKF 1.24%:</p>\n<p><b>Base Inc</b>BAINF 0.97%: Bought 313,000 shares in Tokyo of the online services company that develops and builds e-commerce platforms, representing about 0.1195% of the ETF.</p>\n<p>Base OTC stock closed 0.97% higher at $15.65 on Wednesday. It has a 52-week high of $179 and low of $14.61.</p>\n<p><b>Yeahka Ltd</b>YHEKF: Bought 997,200 shares in Hong Kong of the payment-based technology platform, representing about 0.18% of the ETF.</p>\n<p>Yeahka stock closed 0.64% lower at $7.75 on Wednesday. It has a 52-week high of $15.28 and low of $4.78.</p>\n<p><b>LendingClub Corp</b>LC 0.95%: Bought 204,348 shares of the peer-to-peer lending company, representing about 0.0789% of the ETF.</p>\n<p>LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p>\n<p><b>LendingTree Inc</b>TREE 5.34%: Sold 15,762 shares of the online lending marketplace company, representing about 0.0824% of the ETF.</p>\n<p>LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</p>\n<p>Trades For<b>Ark Genomic Revolution ETF</b>ARKG 3.26%:</p>\n<p><b>10X Genomics Inc</b>TXG 6.03%: Bought 78,908 shares of the gene sequencing biotechnology company, representing about 0.1526% of the ETF.</p>\n<p>10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p>\n<p><b>Signify Health Inc</b>SGFY 3.65%: Bought 182,193 shares of the healthcare tech company, representing about 0.0508% of the ETF.</p>\n<p>Signify shares closed 4.08% lower at $26.35 on Wednesday and were up 0.53% in after-hours. It has a 52-week high of $40.79 and low of $22.13.</p>\n<p><b>Repare Therapeutics Inc</b>RPTX 0.78%: Bought 10,700 shares of the Canadian oncology company, representing about 0.0035% of the ETF.</p>\n<p>Repare stock closed 0.78% higher at $30.96 on Wednesday. It has a 52-week high of $46.44 and low of $21.45.</p>\n<p><b>908 Devices Inc</b>MASS 6.18%: Bought 51,661 shares of the purpose-built handheld and devices for chemical and biomolecular analysis maker, representing about 0.0273% of the ETF.</p>\n<p>908 Devices stock closed 6.18% lower at $46.95 on Wednesday. It has a 52-week high of $79.60 and low of $38.88.</p>\n<p><b>Pluristem Therapeutics Inc</b>PSTI 2.09%: Sold 2,220 shares of the Israel-based stemcell company, representing about 0.0001% of the ETF.</p>\n<p>Pluristem stock closed 2.09% higher at $4.89 on Wednesday. It has a 52-week high of $13.29 and low of $3.95.</p>\n<p>Trades For<b>ArkInnovation ETF</b>ARKK 2.33%:</p>\n<p><b>Zoom Video Communications Inc</b>ZM 2.03%: Bought 98,500 shares of the video calling company, representing about 0.1326% of the ETF.</p>\n<p>Zoom stock closed 2.03% lower at $323.08 on Wednesday. It has a 52-week high of $588.84 and low of $109.57.</p>\n<p><b>10X Genomics Inc</b>TXG 6.03%: Bought 111,047 shares of the gene sequencing biotechnology company, representing about 0.0865% of the ETF.</p>\n<p>10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.</p>\n<p><b>Trimble Inc</b>TRMB 3.84%: Bought 237,782 shares of the California-based hardware, software and services technology company, representing about 0.0813% of the ETF.</p>\n<p>Trimble shares closed 3.84% lower at $79.74 on Wednesday. It has a 52-week high of $84.86 and low of $30.87.</p>\n<p><b>Palantir Technologies Inc</b>PLTR 1.57%: Bought 1,045,600 shares of the big data analytics company, representing about 0.1007% of the ETF.</p>\n<p>Palantir shares closed 1.59% lower at $22.90 on Wednesday and rose 1.05% in the after-hours. It has a 52-week high of $45 and low of $8.90.</p>\n<p><b>Docusign Inc</b>DOCU: Bought 103,783 shares of the online signature services company, representing about 0.0891% of the ETF.</p>\n<p>Docusign shares closed flat at $205.71 on Wednesday and were up 0.63% in after-hours trading. The stock has a 52-week high of $290.23 and low of $85.84.</p>\n<p><b>DraftKings Inc</b>DKNG 2.68%: Bought 610,847 shares of the daily fantasy sports company, representing about 0.1595% of the ETF.</p>\n<p>DraftKings shares closed 2.68% lower at $62.09 on Wednesday and were up 0.64% in the after-hours. It has a 52-week high of $74.38 and low of $12.68.</p>\n<p>Trades for<b>ARK Autonomous Technology &amp; Robotics ETF</b>(BATS:ARKQ):</p>\n<p><b>Atlas Crest Investment Corp</b>ACIC 1.35%: Bought 71,635 shares of the blank check company, representing about 0.0214% of the ETF.</p>\n<p>Atlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.</p>\n<p><b>Alphabet Inc</b>GOOGL 1.35%GOOG 1.12%: Sold 16,651 Class C shares of the Google parent company, representing about 1.10% of the ETF.</p>\n<p>Alphabet shares closed 1.35% higher at $2239.03 on Wednesday and were up 0.40% in the after-hours. The stock has a 52-week high of $2,244.50 and low of $1,177.25.</p>\n<p><b>Iridium Communications Inc</b>IRDM 2.05%: Bought 59,521 shares of the mobile<b>satellite communications</b>services, representing about 0.0705% of the ETF.</p>\n<p>Iridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.</p>\n<p><b>Kratos Defense &amp; Security Solutions</b>KTOS 2.34%: Bought 313,506 shares of the U.S. defense contractor and security systems integrator company, representing about 0.2583% of the company.</p>\n<p>Kratos Defense shares closed 2.34% lower at $27.97 on Wednesday and were up 1.07% in the after-hours. The stock has a 52-week high of $34.11 and low of $13.34.</p>\n<p><b>Taiwan Semiconductor Mfg. Co</b>TSM 2.06%: Sold 97,700 shares in the semiconductor manufacturing and design company, representing about 0.3467% of the ETF.</p>\n<p>Taiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.</p>\n<p><b>Teradyne Inc</b>TER 0.45%: Sold 98,161 shares of the equipment design and manufacturing company, representing about 0.3802% of the ETF.</p>\n<p>Teradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.</p>\n<p><b>Deere &amp; Co</b>DE 0.28%: Sold 37,795 shares of the agriculture, construction and forestry equipment maker, representing about 0.4162% of the ETF.</p>\n<p>Deere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.</p>\n<p><b>Caterpillar Inc</b>CAT 0.11%: Sold 59,610 shares of the agriculture, construction, mining and forestry equipment maker, representing about 0.4051% of the ETF.</p>\n<p>Caterpillar shares closed 0.1% lower at $230.41.The stock has a 52-week high of $237.78 and low of $100.22.</p>\n<p>Trades For<b>ARK Next Generation Internet ETF</b>ARKW 1.62%</p>\n<p><b>Trade Desk Inc</b>TTD 1.23%: Bought 23,750 shares of the technology platform for ad buyers company, representing about 0.23% of the ETF.</p>\n<p>Trade Desk shares closed 1.23% higher at $677.87 on Wednesday and were up 0.31% in after-hours. It has a 52-week high of $972.80 and low of $190.29.</p>\n<p><b>LendingClub Corp</b>LC 0.95%: Bought 150,245 shares of the peer-to-peer lending company, representing about 0.0337% of the ETF.</p>\n<p>LendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.</p>\n<p><b>Synopsys Inc</b>SNPS 0.14%: Sold 70,396 shares of the electronic design automation company, representing about 0.2588% of the ETF.</p>\n<p>Synopsys shares closed 0.14% lower at $257 on Wednesday. It has a 52-week high of $300.91 and low of $133.27.</p>\n<p><b>LendingTree Inc</b>TREE 5.34%: Sold 12,129 shares of the online lending marketplace company, representing about 0.0406% of the ETF.</p>\n<p>LendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.</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":"1112389819","content_text":"Cathie Wood’s Ark Investment Management sends out an email every night listing the stocks that were bought or sold by the firm's ETFs that day. In recent months, the emails have known to cause certain stocks to see a spike in the after-hours session. Here’s a list of 35 stocks that the hedge fund bought and sold on Wednesday.\nTrades ForArkSpace Exploration & Innovation ETFARKX 1.32%:\nAtlas Crest Investment CorpACIC 1.35%: Bought 141,100 shares of the blank check company, representing about 0.2503% of the ETF.\nAtlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.\nJaws Spitfire Acquisition CorpSPFR 0.38%: Bought 241,618 shares of the blank check company, representing about 0.4389% of the ETF.\nJaws stock closed 0.3% higher at $10.46 on Wednesday and rose 1.91% in the after-hours. It has a 52-week high of $12.10 and low of $9.95.\nIridium Communications IncIRDM 2.05%: Bought 35,963 shares of the mobilesatellite communicationsservices, representing about 0.2525% of the ETF.\nSee Also:The First 39 Companies In Cathie Wood's Ark Invest Space ETF\nIridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.\nReinvent Technology PartnersRTP 0.2%: Bought 140,900 shares of the blank-check company, representing 0.2496% of the ETF.\nReinvent shares closed 0.39% lower at $10.11 and were up 1% in after-hours trading. The stock has a 52-week high of $17 and low of $9.86.\nTeradyne IncTER 0.45%: Sold 11,302 shares of the equipment design and manufacturing company, representing about 0.259% of the ETF.\nTeradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.\nDeere & CoDE 0.28%: Sold 7,781 shares of the agriculture, construction and forestry equipment maker, representing about 0.5072% of the ETF.\nDeere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.\nAeroVironment IncAVAV 3.44%: Sold 5,100 shares in the California-headquartered defense contractor, representing about 0.10% of the ETF.\nAeroVironment stock closed 3.44% lower at $113.37 on Wednesday. It has a 52-week high of $143.72 and low of $53.15.\nTaiwan Semiconductor Mfg. CoTSM 2.06%: Sold 28,749 shares in the semiconductor manufacturing and design company, representing about 0.603% of the ETF.\nTaiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.\nTrades ForArk Fintech Innovation ETFARKF 1.24%:\nBase IncBAINF 0.97%: Bought 313,000 shares in Tokyo of the online services company that develops and builds e-commerce platforms, representing about 0.1195% of the ETF.\nBase OTC stock closed 0.97% higher at $15.65 on Wednesday. It has a 52-week high of $179 and low of $14.61.\nYeahka LtdYHEKF: Bought 997,200 shares in Hong Kong of the payment-based technology platform, representing about 0.18% of the ETF.\nYeahka stock closed 0.64% lower at $7.75 on Wednesday. It has a 52-week high of $15.28 and low of $4.78.\nLendingClub CorpLC 0.95%: Bought 204,348 shares of the peer-to-peer lending company, representing about 0.0789% of the ETF.\nLendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.\nLendingTree IncTREE 5.34%: Sold 15,762 shares of the online lending marketplace company, representing about 0.0824% of the ETF.\nLendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.\nTrades ForArk Genomic Revolution ETFARKG 3.26%:\n10X Genomics IncTXG 6.03%: Bought 78,908 shares of the gene sequencing biotechnology company, representing about 0.1526% of the ETF.\n10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.\nSignify Health IncSGFY 3.65%: Bought 182,193 shares of the healthcare tech company, representing about 0.0508% of the ETF.\nSignify shares closed 4.08% lower at $26.35 on Wednesday and were up 0.53% in after-hours. It has a 52-week high of $40.79 and low of $22.13.\nRepare Therapeutics IncRPTX 0.78%: Bought 10,700 shares of the Canadian oncology company, representing about 0.0035% of the ETF.\nRepare stock closed 0.78% higher at $30.96 on Wednesday. It has a 52-week high of $46.44 and low of $21.45.\n908 Devices IncMASS 6.18%: Bought 51,661 shares of the purpose-built handheld and devices for chemical and biomolecular analysis maker, representing about 0.0273% of the ETF.\n908 Devices stock closed 6.18% lower at $46.95 on Wednesday. It has a 52-week high of $79.60 and low of $38.88.\nPluristem Therapeutics IncPSTI 2.09%: Sold 2,220 shares of the Israel-based stemcell company, representing about 0.0001% of the ETF.\nPluristem stock closed 2.09% higher at $4.89 on Wednesday. It has a 52-week high of $13.29 and low of $3.95.\nTrades ForArkInnovation ETFARKK 2.33%:\nZoom Video Communications IncZM 2.03%: Bought 98,500 shares of the video calling company, representing about 0.1326% of the ETF.\nZoom stock closed 2.03% lower at $323.08 on Wednesday. It has a 52-week high of $588.84 and low of $109.57.\n10X Genomics IncTXG 6.03%: Bought 111,047 shares of the gene sequencing biotechnology company, representing about 0.0865% of the ETF.\n10X shares closed 6.03% lower at $185.34 on Wednesday. It has a 52-week high of $201.70 and low of $58.11.\nTrimble IncTRMB 3.84%: Bought 237,782 shares of the California-based hardware, software and services technology company, representing about 0.0813% of the ETF.\nTrimble shares closed 3.84% lower at $79.74 on Wednesday. It has a 52-week high of $84.86 and low of $30.87.\nPalantir Technologies IncPLTR 1.57%: Bought 1,045,600 shares of the big data analytics company, representing about 0.1007% of the ETF.\nPalantir shares closed 1.59% lower at $22.90 on Wednesday and rose 1.05% in the after-hours. It has a 52-week high of $45 and low of $8.90.\nDocusign IncDOCU: Bought 103,783 shares of the online signature services company, representing about 0.0891% of the ETF.\nDocusign shares closed flat at $205.71 on Wednesday and were up 0.63% in after-hours trading. The stock has a 52-week high of $290.23 and low of $85.84.\nDraftKings IncDKNG 2.68%: Bought 610,847 shares of the daily fantasy sports company, representing about 0.1595% of the ETF.\nDraftKings shares closed 2.68% lower at $62.09 on Wednesday and were up 0.64% in the after-hours. It has a 52-week high of $74.38 and low of $12.68.\nTrades forARK Autonomous Technology & Robotics ETF(BATS:ARKQ):\nAtlas Crest Investment CorpACIC 1.35%: Bought 71,635 shares of the blank check company, representing about 0.0214% of the ETF.\nAtlas Crest shares closed 1.57% lower at $10.06 on Wednesday and were up 1.89% in after-hours trading. The stock has a 52-week high of $18.60 and low of $9.73.\nAlphabet IncGOOGL 1.35%GOOG 1.12%: Sold 16,651 Class C shares of the Google parent company, representing about 1.10% of the ETF.\nAlphabet shares closed 1.35% higher at $2239.03 on Wednesday and were up 0.40% in the after-hours. The stock has a 52-week high of $2,244.50 and low of $1,177.25.\nIridium Communications IncIRDM 2.05%: Bought 59,521 shares of the mobilesatellite communicationsservices, representing about 0.0705% of the ETF.\nIridium shares closed 2.05% lower at $40.07 and were up 1.07% in after-hours trading. The stock has a 52-week high of $54.65 and low of $19.18.\nKratos Defense & Security SolutionsKTOS 2.34%: Bought 313,506 shares of the U.S. defense contractor and security systems integrator company, representing about 0.2583% of the company.\nKratos Defense shares closed 2.34% lower at $27.97 on Wednesday and were up 1.07% in the after-hours. The stock has a 52-week high of $34.11 and low of $13.34.\nTaiwan Semiconductor Mfg. CoTSM 2.06%: Sold 97,700 shares in the semiconductor manufacturing and design company, representing about 0.3467% of the ETF.\nTaiwan Semiconductor stock closed 2.08% lower at $119.89 on Wednesday. It has a 52-week high of $142.20 and low of $47.72.\nTeradyne IncTER 0.45%: Sold 98,161 shares of the equipment design and manufacturing company, representing about 0.3802% of the ETF.\nTeradyne shares closed 0.45% lower at $131.78. The stock has a 52-week high of $147.90 and low of $56.42.\nDeere & CoDE 0.28%: Sold 37,795 shares of the agriculture, construction and forestry equipment maker, representing about 0.4162% of the ETF.\nDeere shares closed 0.22% lower at $374.79.The stock has a 52-week high of $392.42 and low of $117.85.\nCaterpillar IncCAT 0.11%: Sold 59,610 shares of the agriculture, construction, mining and forestry equipment maker, representing about 0.4051% of the ETF.\nCaterpillar shares closed 0.1% lower at $230.41.The stock has a 52-week high of $237.78 and low of $100.22.\nTrades ForARK Next Generation Internet ETFARKW 1.62%\nTrade Desk IncTTD 1.23%: Bought 23,750 shares of the technology platform for ad buyers company, representing about 0.23% of the ETF.\nTrade Desk shares closed 1.23% higher at $677.87 on Wednesday and were up 0.31% in after-hours. It has a 52-week high of $972.80 and low of $190.29.\nLendingClub CorpLC 0.95%: Bought 150,245 shares of the peer-to-peer lending company, representing about 0.0337% of the ETF.\nLendingClub stock closed 0.88% lower at $15.7 on Wednesday. It has a 52-week high of $22.68 and low of $4.32.\nSynopsys IncSNPS 0.14%: Sold 70,396 shares of the electronic design automation company, representing about 0.2588% of the ETF.\nSynopsys shares closed 0.14% lower at $257 on Wednesday. It has a 52-week high of $300.91 and low of $133.27.\nLendingTree IncTREE 5.34%: Sold 12,129 shares of the online lending marketplace company, representing about 0.0406% of the ETF.\nLendingTree stock closed 5.34% higher at $229.26 on Wednesday. It has a 52-week high of $372.64 and low of $175.","news_type":1},"isVote":1,"tweetType":1,"viewCount":139,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9983071430,"gmtCreate":1666134029820,"gmtModify":1676537709581,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/DIDIY\">$DiDi Global Inc.(DIDIY)$</a>deaths&nbsp;","listText":"<a href=\"https://ttm.financial/S/DIDIY\">$DiDi Global Inc.(DIDIY)$</a>deaths&nbsp;","text":"$DiDi Global Inc.(DIDIY)$deaths","images":[{"img":"https://community-static.tradeup.com/news/09d6955bf8fd14ac8eabed4103409ab2","width":"750","height":"1464"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9983071430","isVote":1,"tweetType":1,"viewCount":865,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":191115498,"gmtCreate":1620863919314,"gmtModify":1704349407845,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Sure lose for now","listText":"<a href=\"https://laohu8.com/S/NIO\">$NIO Inc.(NIO)$</a>Sure lose for now","text":"$NIO Inc.(NIO)$Sure lose for 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on..","images":[{"img":"https://static.tigerbbs.com/e695be1240013839a7156a0946128cbf","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":1,"link":"https://ttm.financial/post/345738164","isVote":1,"tweetType":1,"viewCount":85,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":353760630,"gmtCreate":1616537973620,"gmtModify":1704795316472,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Really?","listText":"Really?","text":"Really?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/353760630","repostId":"1183411541","repostType":4,"repost":{"id":"1183411541","kind":"news","pubTimestamp":1616512675,"share":"https://ttm.financial/m/news/1183411541?lang=&edition=fundamental","pubTime":"2021-03-23 23:17","market":"us","language":"en","title":"Pension funds have to buy bonds to rebalance portfolios, and that might be good for stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1183411541","media":"cnbc","summary":"KEY POINTS\n\nBond yields could head lower into next week, as pensions and other big investors buy bon","content":"<div>\n<p>KEY POINTS\n\nBond yields could head lower into next week, as pensions and other big investors buy bonds to rebalance their portfolios for the end of the quarter.\nBig investors would also have to shave ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/23/pension-funds-have-to-buy-bonds-to-rebalance-portfolios-and-that-might-be-good-for-stocks.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pension funds have to buy bonds to rebalance portfolios, and that might be good for stocks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; 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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\">\nPension funds have to buy bonds to rebalance portfolios, and that might be good for stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-03-23 23:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/03/23/pension-funds-have-to-buy-bonds-to-rebalance-portfolios-and-that-might-be-good-for-stocks.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nBond yields could head lower into next week, as pensions and other big investors buy bonds to rebalance their portfolios for the end of the quarter.\nBig investors would also have to shave ...</p>\n\n<a href=\"https://www.cnbc.com/2021/03/23/pension-funds-have-to-buy-bonds-to-rebalance-portfolios-and-that-might-be-good-for-stocks.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/03/23/pension-funds-have-to-buy-bonds-to-rebalance-portfolios-and-that-might-be-good-for-stocks.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1183411541","content_text":"KEY POINTS\n\nBond yields could head lower into next week, as pensions and other big investors buy bonds to rebalance their portfolios for the end of the quarter.\nBig investors would also have to shave down stock positions to bring their asset allocations in line after the nearly 5% first-quarter gain in the S&P 500.\nStocks normally might be under pressure from the selling, but strategists say the recent performance has been tied to bond yields, and falling yields could draw in buyers, especially to growth stocks.\n\nPension funds and other major investors should be big buyers of bonds during the next week or so, as they rebalance their holdings to make up for the bond market’s first quarter sell-off.\nThat could send bond yields lower, at least temporarily.\nWells Fargo’s Michael Schumacher estimates corporate pension funds will have to make up a gap in bond holdings of about $125 billion, the biggest shortfall in about a decade. Schumacher, director of rates at Wells, said not all of that activity will come before quarter-end, but he expects to see about $25 billion in buying to make up for that gap by March 31.\nWhat happens to stocks is less clear. Normally, stocks would be under selling pressure as big investors rebalance by also reducing holdings because of the stock market’s positive performance. The S&P 500 is up 4.9% this quarter, and the same investors would be trimming holdings in equities as they add to bonds.\nBut the stock market has been held hostage recently by rising interest rates, and whenever the yields have stabilized, stocks have done better. As yields slipped Monday, stocks rallied, especially the Nasdaq which has been hurt most by rising yields.\n\n“That’s the tug of war that’s going on. On the one hand, you know there’s stock to sell because of the rebalance, but on the other hand the market has been very, very sensitive to yields that are stable to lower,” said Julian Emanuel, head of equity and derivatives strategy at BTIG. “That could be one of the catalysts that break stocks out of the trading range.”\nThe bond market sell-off has been swift. The 10-year Treasury yield started the year at 0.93% and reached a high of 1.75% last week. On Monday, the yield slipped to 1.68%. That move lower was positive for stocks. The S&P 500 was up 0.7% to 3,940, while the Nasdaq jumped 1.2% to 13,377.\nThe FANG names —Facebook,Amazon,Netflix and Google parent Alphabet— were higher Monday, as was Apple,another tech stock punished as interest rates rose.\nEmanuel has said the selling in FANG has been overdone, and he expects growth stocks to benefit from the quarter end decline in rates.\n“We are firmly in the camp that despite the fact we think value over growth works in the long term, in the near term, upside is definitely going to be led by a moderation in the decline in bond yields spurring outperformance in large cap tech, specifically FANG,” he said.\nEmanuel said the stock market could actually be at an inflection point.\n“Between now and the beginning of April, we think the market is going to make its intentions known,” he said. “Whether it’s broad upside led by the laggards with financials participating or this whole idea of even if bond yields behave that the bloom is off the near term rose for the cyclical value trade,” he said. “It could be a substantial movement on the order of 10% one way or the other.”\nSchumacher said the activity should drive yields lower, at least temporarily. “We should have yields coming down and a little bit of stabilization for a few weeks, and then I would suspect they’ll be back to their old tricks and start climbing again,” he said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":37,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3572388238861982","authorId":"3572388238861982","name":"MGHuat","avatar":"https://static.tigerbbs.com/bd2cbc6e014ed9c700e2d9cd01ae2b08","crmLevel":3,"crmLevelSwitch":0,"idStr":"3572388238861982","authorIdStr":"3572388238861982"},"content":"Might not given current investment climate","text":"Might not given current investment climate","html":"Might not given current investment climate"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173164813,"gmtCreate":1626648156032,"gmtModify":1703762512808,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>All the way down.","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>All the way down.","text":"$Tiger Brokers(TIGR)$All the way down.","images":[{"img":"https://static.tigerbbs.com/f10e48d010200751b56bc0ef6ca4989a","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/173164813","isVote":1,"tweetType":1,"viewCount":373,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":143753285,"gmtCreate":1625819631747,"gmtModify":1703749200430,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Early bought..","listText":"<a href=\"https://laohu8.com/S/TSLA\">$Tesla Motors(TSLA)$</a>Early bought..","text":"$Tesla Motors(TSLA)$Early bought..","images":[{"img":"https://static.tigerbbs.com/ef28c0e8fb823c0431b4f90becdd3ec7","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/143753285","isVote":1,"tweetType":1,"viewCount":206,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3577445690140943","authorId":"3577445690140943","name":"Sonson89","avatar":"https://static.tigerbbs.com/bb78553b48c28648b70634c067b819ec","crmLevel":2,"crmLevelSwitch":0,"idStr":"3577445690140943","authorIdStr":"3577445690140943"},"content":"It will rise again hahaha","text":"It will rise again hahaha","html":"It will rise again hahaha"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":370578858,"gmtCreate":1618616481574,"gmtModify":1704713378290,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":8,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/370578858","repostId":"1156411249","repostType":4,"repost":{"id":"1156411249","kind":"news","pubTimestamp":1618562497,"share":"https://ttm.financial/m/news/1156411249?lang=&edition=fundamental","pubTime":"2021-04-16 16:41","market":"us","language":"en","title":"Einhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"","url":"https://stock-news.laohu8.com/highlight/detail?id=1156411249","media":"zerohedge","summary":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent t","content":"<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&amp;P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.</p><p>That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"</p><p>He then asks if the tide has<i><b>finally</b></i>turned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"</p><p><img src=\"https://static.tigerbbs.com/a5db342a0e7b68b8405ce6d4041b71a0\" tg-width=\"500\" tg-height=\"339\" referrerpolicy=\"no-referrer\">Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&amp;P 500 index with half the net exposure.</p><p>Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:</p><blockquote><i>When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.</i></blockquote><p>As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protect<s>the stock market and corporate bondholders</s>the economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"</p><p>The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:</p><blockquote><i>... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know?</i> <i><b>Do price increases come with a label that says “transitory”?</b></i> <i>Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.</i></blockquote><p>It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:</p><blockquote><i>The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.</i></blockquote><p>To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"</p><p>Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in<i>15 minutes</i>), \"it remains to be seen if it will have the stomach to use them when the time comes. That<b>is a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.</b>\"</p><p>The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:</p><ul><li><b>Brighthouse Financial (BHF, +22%)</b>benefitted from rising interest rates;</li><li><b>Danimer Scientific (DNMR, +61%)</b>began its life as a public company;</li><li><b>Concentrix (CNXC, +52%)</b>benefitted from strong demand and rising estimates;</li><li><b>Resideo Technologies (REZI, +33%)</b>was helped by the strong housing market;</li><li><b>Change Healthcare (CHNG, +18%)</b>agreed to be acquired by UnitedHealthcare;</li><li><b>AerCap Holdings (AER, +29%)</b>agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; and</li><li><b>An undisclosed healthcare short (-41%)</b>fell due to reduced government reimbursement for its product.</li></ul><p><i>(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).</i></p><p>Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.</p><p>What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:</p><blockquote><i>In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go.</i> <i><b>The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed.</b></i> <i>If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share.</i> <i><b>First, it is very healthy for market participants to discuss and debate stocks.</b></i> <i>This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed,</i> <i><b>but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick.</b></i> <i>Second, it is also fine to make bad stock picks.</i> <i><b>If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work?</b></i> <i>Third,</i> <i><b>payment for order flow is just disguised commissions.</b></i> <i>We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.”</i> <i><b>If you want the broker to work for you, pay a commission.</b></i> <i>Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.</i></blockquote><p>The punchline:<i>Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:</i></p><blockquote><i>Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation.</i> <i><b>Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor.</b></i> <i>As for Mr. Musk,</i> <i><b>we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants.</b></i> <i>Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets.</i> <i><b>Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat.</b></i> <i>It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.</i></blockquote><p>Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.</p><p>First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:</p><blockquote><i>The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.</i></blockquote><p>Einhorn next highlights one of the stocks most hated by the bearish community: GSX:</p><blockquote>The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, <b>causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.</b>The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.</blockquote><p>The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:</p><blockquote><i>Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September.</i> <i><b>HWIN reached a market cap of $113 million on February 8.</b></i> <i>The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.</i></blockquote><p>We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter is<i>identical</i>to ours, when we discussed the insane stock moves that dominated much of January and February:</p><blockquote><i><b>\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"</b></i></blockquote><p>Einhorn's full letter is below:</p><p><img src=\"https://static.tigerbbs.com/519bd51d93865787f487bbfdc930c706\" tg-width=\"946\" tg-height=\"496\"><img src=\"https://static.tigerbbs.com/1691d37b71b28794a2bc900aaf5b313e\" tg-width=\"857\" tg-height=\"687\"><img src=\"https://static.tigerbbs.com/a5d1e93a00a6d64936e9c09b9b940dbf\" tg-width=\"891\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/0c11ad8e34545a98ba8ee9c4fa8a78d9\" tg-width=\"909\" tg-height=\"477\"><img src=\"https://static.tigerbbs.com/fc8253cd105c8e2727495e1d34c6769b\" tg-width=\"887\" tg-height=\"719\"><img src=\"https://static.tigerbbs.com/e120ac355802479930a1b1e84bf46e3e\" tg-width=\"901\" tg-height=\"528\"><img src=\"https://static.tigerbbs.com/28989c8e07df2deede3e092055e09e70\" tg-width=\"895\" tg-height=\"564\"><img src=\"https://static.tigerbbs.com/7d526b287d859e129d81853c0be2ace0\" tg-width=\"869\" tg-height=\"559\"><img src=\"https://static.tigerbbs.com/8599ce79c9573aed1ca3b1266bd3400a\" tg-width=\"871\" tg-height=\"534\"><img src=\"https://static.tigerbbs.com/3ae554a242066a92e4095f35260ce325\" tg-width=\"917\" tg-height=\"639\"><img src=\"https://static.tigerbbs.com/df45fd1c31a9a0b5a376ec0fe6037598\" tg-width=\"883\" tg-height=\"522\"><img src=\"https://static.tigerbbs.com/b72d0f63d22768ed27882dca1e9f6048\" tg-width=\"878\" tg-height=\"420\"><img src=\"https://static.tigerbbs.com/cf93a682ea1bc652b5107e7ecf902b84\" tg-width=\"862\" tg-height=\"456\"><img src=\"https://static.tigerbbs.com/f0326abf9ee7f93425e7d4cb20e1f375\" tg-width=\"900\" tg-height=\"657\"></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEinhorn: \"The Market Is Fractured And In The Process Of Breaking Completely\"\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 16:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.zerohedge.com/markets/einhorn-market-fractured-and-process-breaking-completely","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156411249","content_text":"In many ways, David Einhorn's Greenlight appears to be back to its \"new normal\" - in a letter sent to investors, Einhorn writes that Greenlight again underperformed the market and returned -0.1% in the first quarter, badly underperforming the 6.2% return for the S&P 500 index, before proceeding to bash the Fed, broken markets, Chamath and Elon, the basket of short stocks and much more.That said, even though as Einhorn writes Greenlight made only a handful of portfolio changes and essentially broke even, \"a lot happened. In general, the investment environment – especially from mid-February through the end of the quarter – was favorable as value outperformed growth, and interest rates and inflation expectations rose.\"He then asks if the tide hasfinallyturned from Growth to Value, noting that \"after a very tough decade, we have only just begun a recovery as shown in this 45-year chart from Goldman Sachs research:\"Part of the shift from growth to value, Einhorn writes, may be coming from higher inflation and inflation expectations. As measured by the inflation swap market, 10-year inflation expectations fell from 2.9% in September 2012 to 0.8% in March 2020. The only significant intervening bounce came in 2016, when expectations jumped from 1.5% to 2.3% on expectations of a major stimulus deal from the Trump admin (which never materialized). It is hardly a coincidence that that was the only year in the last decade in which value outperformed growth, as the Greenlight head notes. Fast forward to now, when after bottoming in March 2020, inflation expectations have recovered to 2.5%. The trend became clearer in the middle of May, and value started outperforming growth then, and especially since the middle of February. Indeed, aince May 15, the value-heavy Greenlight returned 80% of the S&P 500 index with half the net exposure.Einhorn is even more optimistic about the future when it comes to the \"growth to value\" rotation:When the time comes, we will have to figure out how to perform better in deflationary periods. But for now, we believe inflation is only going one way – higher – and we are optimistic about our prospects. The wind is now at our backs. The economy is in full recovery mode. Household balance sheets are stronger than they have been in a long time and household income growth was up 13% in February compared to last year. And this is before the latest $1.9 trillion – with a “T” – pandemic relief stimulus. Corporate capital spending is booming. There are shortages and bottlenecks everywhere. Last month nearly one million jobs returned. There are signs of an emerging labor shortage.As for the Fed, the Greenlight boss writes that \"it fundamentally changed its framework last August. It no longer seems to care that monetary policy works with a lag. Actually, it has embraced an asymmetrical inflation policy: The Fed wants to be ahead of the curve on the downside to protectthe stock market and corporate bondholdersthe economy. Behind the curve is fine on the way up no matter how frothy the stock market the recovery is. Now, it says it is only going to react to actual inflation that exceeds its 2% target for a period of time.\"The letter then goes on to muse how the Fed will know when it is blowing the next bubble, and to stop:... the Fed has indicated that it believes any abnormally high inflation will be transitory. We wonder, how will the Fed know? Do price increases come with a label that says “transitory”? Our sense is that no matter how hot inflation gets in the coming months, the Fed will continue with zero interest rates and large-scale asset purchases. After all, the U.S. Treasury has a lot of debt to sell and it isn’t clear who, other than the Fed, can absorb the supply.It's not just Powell who is throwing caution to the wind: so are such mainstream econ \"experts\" as John Oliver:The bipartisan idea that deficits don’t matter has even reached popular culture. John Oliverdedicated an entire episodeof Last Week Tonight to browbeating anyone who is concerned about the growing national debt. His argument boiled down to: (1) nobody knows how much debt is too much; (2) we have a good need to spend money now; and (3) it won’t be a problem until inflation shows up, and we can deal with it then.To this, Einhorn's response is simple: \"Though one can debate whether the official government statistics are contrived to avoid capturing inflation\" - and as we have repeatedly noted, inflation is now decidedly a political measurement, one which has been gamed for decades to make it appears as low as possible \"shortages and bottlenecks accompanied by rising demand can only be solved through increased capacity and higher prices. We have also reset the baseline income for non-working adults; it will take higher wages to bring those marginally attached to the labor force back to work.\"Concluding this part of the letter, Einhorn writes that while the Fed says it has the tools to fight inflation (and according to Bernanke can cut it in15 minutes), \"it remains to be seen if it will have the stomach to use them when the time comes. Thatis a discussion for another day. Right now, we remain positioned for rising inflation and inflation expectations.\"The Greenlight letter then goes on to lay out just how it plans to capture these rising inflation expectations, listing its top positions as follows, and how they performed in the frist quarter:Brighthouse Financial (BHF, +22%)benefitted from rising interest rates;Danimer Scientific (DNMR, +61%)began its life as a public company;Concentrix (CNXC, +52%)benefitted from strong demand and rising estimates;Resideo Technologies (REZI, +33%)was helped by the strong housing market;Change Healthcare (CHNG, +18%)agreed to be acquired by UnitedHealthcare;AerCap Holdings (AER, +29%)agreed to acquire GE Capital’s aircraft leasing business (GECAS) at a discount; andAn undisclosed healthcare short (-41%)fell due to reduced government reimbursement for its product.(incidentally, at quarter-end, Greenlight's largest disclosed long positions were Atlas Air Worldwide, Brighthouse Financial, Change Healthcare, Danimer Scientific and Green Brick Partners, with a net average exposure of 118% long and 81% short).Which is not to say that there were no glitches. One was underperformance by homebuilder and land-developer GRBK, the fund's largest position (more on this in the full letter below). The other performance drag was - as usual- Greenlight's \"short basket\" of bubble stocks.What follows next is a tour de force from Einhorn lashing out at all the ways the market is broken, and how the Reddit insanity of Q1 exposed it for all to see:In late January, the market came to focus on companies with large short interests. Despite having a diversified portfolio, a number of our positions fell into this group and experienced sudden, sharp rises. We adjusted to the dynamic by reducing our exposure to single name shorts, both in number and sizing. To mitigate the potentially uncomfortable net long bias that would have resulted, we added macro hedges of market index and index option shorts. While we do not expect this to be a permanent change, we will evaluate and modify as we go. The performance of our short portfolio in 2020 and in early 2021 was unacceptable, so change is certainly needed. If we swing a little less hard, we should hit more balls. We have also revised our internal analyst incentive structure to fully emphasize alpha creation.Much has been made of the short-squeezes in late January. In fact, Congress held hearings, where it called the leaders of Robinhood, Melvin Capital and Citadel and an individual investor who made a great call on GameStop (GME) to testify. We have a few thoughts about this to share. First, it is very healthy for market participants to discuss and debate stocks. This is true both privately and publicly. There are rules about fraud and manipulation that need to be followed, but investors discussing why they think GME (or any other stock) should go up or down ought to be encouraged. There is no reason to drag anyone before Congress for making a stock pick. Second, it is also fine to make bad stock picks. If a hedge fund takes a big position in a stock and is wrong, it loses money. Isn’t this how it is supposed to work? Third, payment for order flow is just disguised commissions. We are in a world where consumers, especially young ones, expect internet services to be free, or at least free to them. A quote widely attributed to Richard Serra about commercial TV in 1973 says it best: “You’re not the customer; you’re the product.” If you want the broker to work for you, pay a commission. Fourth, Robinhood suspended trading in certain stocks because it was undercapitalized. It is possible that it wasn’t following the regulatory requirements. A regulatory sanction is probably appropriate – but as we’ll discuss below, we won’t be holding our breath.The punchline:Einhorn slamming Chamath and Elon for pouring the \"real jet fuel\" on the GME squeeze:Finally, we note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation. Mr. Palihapitiya controls SoFi, which competes with Robinhood, and left us with the impression that by destabilizing GME he could harm a competitor. As for Mr. Musk, we are going to defend him, half-heartedly. If regulators wanted Elon Musk to stop manipulating stocks, they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018. The laws don’t apply to him and he can do whatever he wants. Many who would never support defunding the police have supported – and for all intents and purposes have succeeded – in almost completely defanging, if not defunding, the regulators. For the most part, quasi-anarchy appears to rule in markets. Sure, Dr. Michael Burry, famed for his role in The Big Short, reportedly received a visit from the SEC after tweeting warnings about recent market trends – and decided to stop publicly speaking truth to power. But for the most part, there is no cop on the beat. It’s as if there are no financial fraud prosecutors; companies and managements that are emboldened enough to engage in malfeasance have little to fear.Einhorn then concludes with three anecdotes to demonstrate his argument that this is not only an \"anything goes\" market where crime is rampant, but proving just how broken the market has become.First, consider the investigation of Tether by the Office of the Attorney General of New York (OAG). As Einhorn explains, \"tether is a cryptocurrency that is always worth a dollar (the value is “tethered” to the dollar). Tether is one of the largest cryptocurrencies with about $40 billion outstanding, yet it has not been audited or regulated in any serious manner. In theory, Tether is supposed to have $1 of cash backing every Tether issued. Except it didn’t, at least when it was investigated.\" Incidentally, for anyone still confused, Tether is how theChinese launder billions in domestic funds abroad and outside the Chinese firewallas we explained in December, although so far few have the desire to expose this reality. In any case, here is Einhorn's lament:The OAG conducted a two-year probe and found that Tether deceived clients and the market by overstating reserves and hiding approximately $850 million of losses around the globe. Tether and its sponsor, Bitfinex, “recklessly and unlawfully covered up massive financial losses to keep their scheme going and protect their bottom lines,” said the OAG. Further, “Tether’s claims that its virtual currency was fully backed by U.S. dollars at all times was a lie.”Did the OAG shut down Tether? Did anyone get arrested or even lose their job? Was the regulatory infrastructure changed to make sure this doesn’t happen again? No, of course not. The OAG assessed an $18.5 million penalty and Tether agreed to discontinue “any trading activity with New Yorkers.” It was as if Bernie Madoff had been told to pay a small fine and stop ripping off New Yorkers, but to go ahead and have fun with the Palm Beach crowd.Einhorn next highlights one of the stocks most hated by the bearish community: GSX:The media is focused on how the banks allowed excessive leverage and poorly (or properly) managed their risks. The real story is how Arch-Egos was able to buy up most of the float of GSX Techedu, causing the stock to soar 400% in the face of unrefuted allegations of massive fraud.The SEC has an ongoing investigation of GSX but appears to not have noticed a single fund (or a small group of funds) essentially cornering the market. A traditionalist could say this was market manipulation and transparently illegal.The professional poker player finally points out some of the insane moves observed in pennystocks in Q1, focusing on a tiny deli owner in rural NJ:Strange things happen to all kinds of stocks. Last year, on one day in June, the stocks of about a dozen bankrupt companies roughly doubled on enormous volume. Recently, the Wall Street Journal reported a boom in penny stocks.Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey. The deli had $21,772 in sales in 2019 and only $13,976 in 2020, as it was closed due to COVID from March to September. HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing. Small investors who get sucked into these situations are likely to be harmed eventually, yet the regulators – who are supposed to be protecting investors – appear to be neither present nor curious.We don't find it at all surprising that Einhorn's conclusion from his capital markets observations over the past quarter isidenticalto ours, when we discussed the insane stock moves that dominated much of January and February:\"From a traditional perspective, the market is fractured and possibly in the process of breaking completely.\"Einhorn's full letter is below:","news_type":1},"isVote":1,"tweetType":1,"viewCount":168,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":341257942,"gmtCreate":1617836282386,"gmtModify":1704703650152,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CEMI\">$Chembio Diagnostics(CEMI)$</a>Hope that will not so long.","listText":"<a href=\"https://laohu8.com/S/CEMI\">$Chembio Diagnostics(CEMI)$</a>Hope that will not so long.","text":"$Chembio Diagnostics(CEMI)$Hope that will not so long.","images":[{"img":"https://static.tigerbbs.com/83a2fb19c5cbd2c11b8deeb6415e6f5c","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/341257942","isVote":1,"tweetType":1,"viewCount":580,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":190318825,"gmtCreate":1620598739867,"gmtModify":1704345173955,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/CCIV\">$Churchill Capital Corp IV(CCIV)$</a>Take time..","listText":"<a href=\"https://laohu8.com/S/CCIV\">$Churchill Capital Corp IV(CCIV)$</a>Take time..","text":"$Churchill Capital Corp IV(CCIV)$Take time..","images":[{"img":"https://static.tigerbbs.com/9a0228f19aa5e78996b4468886020fec","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/190318825","isVote":1,"tweetType":1,"viewCount":97,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":345087914,"gmtCreate":1618266027438,"gmtModify":1704708234907,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/345087914","repostId":"1194635432","repostType":4,"repost":{"id":"1194635432","kind":"news","pubTimestamp":1618236146,"share":"https://ttm.financial/m/news/1194635432?lang=&edition=fundamental","pubTime":"2021-04-12 22:02","market":"us","language":"en","title":"Can You Make Coin Investing In Coinbase?","url":"https://stock-news.laohu8.com/highlight/detail?id=1194635432","media":"seekingalpha","summary":"SummaryCoinbase's current valuation is unjustified due to 2 fundamental risks: the hostility of the ","content":"<p><b>Summary</b></p><ul><li>Coinbase's current valuation is unjustified due to 2 fundamental risks: the hostility of the US regulatory landscape towards centralized exchanges, and the widening gap in a winner-takes-all market.</li><li>With coin listings being one of the core competitive advantages of an exchange, Coinbase has the 2nd smallest coin listings among the top 10 exchanges as a result of regulations.</li><li>Widening gap between Coinbase (ranked 2nd) and Binance (ranked 1st) in terms of coin listings and trading volume is evidence of a winner-takes-all market, Coinbase is on the losing side.</li><li>Marginal revenue growth, decline in profitability, and decline in the overall growth stock valuations further plague Coinbase's investment value proposition.</li></ul><p>I remember the early days of cryptocurrency when Binance andCoinbase (COIN) were competing for the top spot as an exchange. If you've traded cryptocurrencies in the US, you have probably used or heard ofCoinbase. Now thatCoinbase is going public, should you invest in the company?</p><p>At first glance, this investment value proposition seemed compelling since the overall cryptocurrency industry is growing rapidly. However, I have found evidence of 2 fundamental risks toCoinbase's growth that could not justify its current valuation and could even undermine its future growth. Recentreportsmay also express agreement asCoinbase's IPO valuation dropped from $100bn to $68bn.</p><p><b>Fundamental Risks 1: The US Regulatory Landscape</b></p><p>The US regulatory landscape is not friendly to centralized exchanges in a way that massively dampenedCoinbase's competitive advantages, one of which is coin listings.</p><p>Coinbase has the 2nd smallest coin listings</p><p>Coin listing is one of the most crucial criteria for a trader/investor when choosing an exchange. Traders/investors require a large number of coin listings to speculate on small-cap altcoins for 10x-100x return. The more coins listed, the more opportunities and choices. I personally use several exchanges for this very reason other than unique features such as staking and etc. The 6 exchanges I use are Binance, Crypto.com, KuCoin, Bkex, PoloniEx, and MXC Pro.</p><p>Why do I use multiple exchanges? Let me illustrate via an example. KuCoin listed Orion(NYSE:ORN)in July 2020 at $1, about 2 months earlier than Binance in October 2020. I bought ORN through KuCoin on its first day at $1.1 and staked it at &gt;20% APY interest. When Binance announced it was listing ORN, its priced spiked upwards. On ORN's first trading day on Binance, ORN's price spiked up as high as $4++ (it is a common occurrence for a token to spike when it is listed in a new exchange). I redeemed my ORN from staking and sold it at $3.60. This transaction earned me more than 300% return. Therefore, the more coins listed, the more opportunities I'll have to replicate this particular transaction to other small-cap altcoins.</p><p>SinceCoinbase's coin listing is small, traders/investors like myself will find it difficult to find these kinds of opportunities. Furthermore, many of the largest-cap coins are not listed onCoinbase. This is one of the main reasons why I did not useCoinbase; I theorize that many traders/investors like myself feel that way. (Let me know in the comments.)</p><p>In a recent lawsuit, a man claiming to beCoinbase's client capitalized on the legal battle between Ripple Labs’ battle and U.S. Securities and Exchange Commission (SEC), suedCoinbase for selling XRP tokens and sought compensations and other relief. According to CoinMarketCap.com, XRP is no longer listed onCoinbase. However, it is listed on more than500 other centralized exchanges(excluding decentralized exchanges) that are much smaller thanCoinbase outside the US.</p><p>XRP is the 7th biggest cryptocurrency by market cap as of the time of writing. Many other top cryptocurrencies are also not found onCoinbase, such as BNB (ranked 3rd), ADA (ranked 4th), DOT (ranked 6th). Amongthe 10 highest-rated centralized exchanges(refer to Table 1), only Bitstamp (18) offers fewer cryptocurrencies thanCoinbase (49), while the market leader (Binance) ledCoinbase by 700% in coin listings.</p><p>Since regulation can directly affect coin listings, a competitive advantage of an exchange,Coinbase already faces overwhelming challenges to compete on this front alone.</p><p>Table 1: Top 10 Spot Exchange Ranked by CoinMarketCap Ratings.</p><p><img src=\"https://static.tigerbbs.com/5bf68da62452a794c5daaa60ac989840\" tg-width=\"554\" tg-height=\"576\" referrerpolicy=\"no-referrer\">Source: Table created by Author fromCoinMarketCap</p><p><b>Other Regulatory Risks</b></p><p>Regulatory risks extend beyond coin listings and the US.Coinbase offers its services to52 countries. If any of the 52 countries ban crypto assets, its revenue would be adversely affected. It is not uncommon for centralized exchanges to relocate to another country due to regulations. While India isplotting a move to ban cryptocurrencies, many exchanges apply forlicenses to move out from India.</p><p>Statistically speaking, 108 exchangesshut downin 2020, compared to 81 in 2019. At least 3 are shut down by government(s) in 2020, and at least 2 in 2019.</p><p>Although it seems unlikely for the US to follow China's and India's footsteps to drastically ban crypto-assets now, regulatory risks remain major risks toCoinbase.</p><p><b>Fundamental Risk 2: Losing a Winner-Takes-All Market</b></p><p>There are 2 types of crypto exchanges: centralized and decentralized. Both have pros and cons. The best known centralized exchange is Binance, while the best known decentralized exchange is Uniswap. Although centralized exchanges may require a license by a governing body, decentralized exchanges might not, as decentralized exchanges can have avarying degree of centralized components. Both centralized and decentralized exchanges have their respective roles in the crypto ecosystem, hence I think that both are here to stay.</p><p>Many of the decentralized exchange source codes are open source (full listshere). In other words, virtually anyone can develop and host a decentralized exchange. This implies a shallow barrier to entry. Uniswap is the market leader in the decentralized exchange space. Itrecordedmore than $58bn volume in 2020, up 15,000% from 2019. Note that Uniswap wasfirst launchedin November 2018, compared toCoinbase in 2012.</p><p>On the other hand, Binance, the market leader in the centralized exchange space, recorded a total of$1.417 trillion spot trading volume in 2020, an increase of 36% from 2019. This figure does not even include other trading volumes, such as options, futures, margin, and other services, which amounted to $1.7 trillion, a 2800% increase from 2019.</p><p>In comparison,Coinbase only recorded $445bn total trading volume in 2020, a 39% increase in 2019. This is evidence that the market leader is pulling away, implying a winner-takes-all market. This becomes evident by referring to Table 1, where the market leader has more than 10 times the trading value than the 2nd place (Coinbase).</p><p>Furthermore, many traditional financial, non-financial international corporations and fintech companies are also participating in the competition. One of the latest addition is ApplePay.ApplePaynow has official support for cryptocurrencies, with GooglePay and SamsungPay to follow suit. Other note-worthy companies include Square, Paypal, and Visa.</p><p>In my opinion,Coinbase looks to be on the losing side if this market is indeed a winner-takes-all market. Further,Coinbase could be losing market more market share as more competition arises.</p><p><img src=\"https://static.tigerbbs.com/01ca6dafd2b567bd920c5e9f8edc8fbb\" tg-width=\"640\" tg-height=\"202\" referrerpolicy=\"no-referrer\">Source:BusinessofApps</p><p><b>Valuation</b></p><p>The tables below showed thatCoinbase's profit margin is healthy at 28% in 2020. Revenue growth rate compounds at approximately 7% annually from 2017-2020, but profits declined.</p><p>Coinbase's valuation in 2017 remains the most attractive, at 1.725 P/S (Price-to-Sales ratio) and 4.21 P/E (Price-to-Earnings ratio). Earlier this month,Coinbase's IPO valuation is pegged at$100bn. However, recent reports indicated a decrease inCoinbase's IPO valuation to$68bn.At a valuation of $100bn and $68bn,Coinbase is valued at approximately 333 P/E and 211 P/E respectively, or approximately 87.7 P/S and 59.65 P/S respectively.</p><p>Coinbase's valuation in 2020 is a far cry from 2017. Perhaps,Coinbase is pushing for its IPO to cash in on the overall stock market's high valuation.</p><p>Nevertheless, considering the 2 fundamental risks outlined above, marginal revenue growth and declined profits,Coinbase is overvalued at the current valuation in my opinion. The current decline in growth stocks further deterioratesCoinbase's investment value proposition.</p><p>Table 3:Coinbase's Revenue from 2016-2020<img src=\"https://static.tigerbbs.com/de8396c363230e04130e43f63d653956\" tg-width=\"640\" tg-height=\"231\" referrerpolicy=\"no-referrer\">Source:BusinessofApps</p><p>Table 4:Coinbase's Profit from 2016-2020<img src=\"https://static.tigerbbs.com/be2327ad800bd3524a3aaa57e3a0b17f\" tg-width=\"640\" tg-height=\"208\" referrerpolicy=\"no-referrer\">Source:BusinessofApps</p><p>Table 5:Coinbase's Historical Valuations<img src=\"https://static.tigerbbs.com/4b1fd86395ee1b0e38f1f6fd472f84bd\" tg-width=\"640\" tg-height=\"159\" referrerpolicy=\"no-referrer\">Source:BusinessofApps</p><p><b>Verdict</b></p><p>In my opinion, the current valuation ofCoinbase couldn't be justified even though the crypto industry is growing rapidly in general. This is down toCoinbase's 2 fundamental risks outlined in this article, marginal growth, sky-high valuation, and the decline in the growth stocks.</p><p>The reason I retain a neutral outlook onCoinbase is the overall outlook of the industry. On the other hand, we can participate in Binance, the market leader in the centralized exchange space, to maximize investment growth. Although Binance is not publicly traded, we can participate in its growth by buying its platform token (BNB).Binance uses part of its profitsto buy back its platform token (BNB)periodically. This results in a gradual increase in its token's price, a similar effect of shares buyback. Hence, I participate in Binance's growth by buying BNB, which saw a 670% YTD return.</p>","source":"seekingalpha","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Can You Make Coin Investing In Coinbase?</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\">\nCan You Make Coin Investing In Coinbase?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-12 22:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4416527-coinbase-path-to-moon-will-be-bumpy-one><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryCoinbase's current valuation is unjustified due to 2 fundamental risks: the hostility of the US regulatory landscape towards centralized exchanges, and the widening gap in a winner-takes-all ...</p>\n\n<a href=\"https://seekingalpha.com/article/4416527-coinbase-path-to-moon-will-be-bumpy-one\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://seekingalpha.com/article/4416527-coinbase-path-to-moon-will-be-bumpy-one","is_english":true,"share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","article_id":"1194635432","content_text":"SummaryCoinbase's current valuation is unjustified due to 2 fundamental risks: the hostility of the US regulatory landscape towards centralized exchanges, and the widening gap in a winner-takes-all market.With coin listings being one of the core competitive advantages of an exchange, Coinbase has the 2nd smallest coin listings among the top 10 exchanges as a result of regulations.Widening gap between Coinbase (ranked 2nd) and Binance (ranked 1st) in terms of coin listings and trading volume is evidence of a winner-takes-all market, Coinbase is on the losing side.Marginal revenue growth, decline in profitability, and decline in the overall growth stock valuations further plague Coinbase's investment value proposition.I remember the early days of cryptocurrency when Binance andCoinbase (COIN) were competing for the top spot as an exchange. If you've traded cryptocurrencies in the US, you have probably used or heard ofCoinbase. Now thatCoinbase is going public, should you invest in the company?At first glance, this investment value proposition seemed compelling since the overall cryptocurrency industry is growing rapidly. However, I have found evidence of 2 fundamental risks toCoinbase's growth that could not justify its current valuation and could even undermine its future growth. Recentreportsmay also express agreement asCoinbase's IPO valuation dropped from $100bn to $68bn.Fundamental Risks 1: The US Regulatory LandscapeThe US regulatory landscape is not friendly to centralized exchanges in a way that massively dampenedCoinbase's competitive advantages, one of which is coin listings.Coinbase has the 2nd smallest coin listingsCoin listing is one of the most crucial criteria for a trader/investor when choosing an exchange. Traders/investors require a large number of coin listings to speculate on small-cap altcoins for 10x-100x return. The more coins listed, the more opportunities and choices. I personally use several exchanges for this very reason other than unique features such as staking and etc. The 6 exchanges I use are Binance, Crypto.com, KuCoin, Bkex, PoloniEx, and MXC Pro.Why do I use multiple exchanges? Let me illustrate via an example. KuCoin listed Orion(NYSE:ORN)in July 2020 at $1, about 2 months earlier than Binance in October 2020. I bought ORN through KuCoin on its first day at $1.1 and staked it at >20% APY interest. When Binance announced it was listing ORN, its priced spiked upwards. On ORN's first trading day on Binance, ORN's price spiked up as high as $4++ (it is a common occurrence for a token to spike when it is listed in a new exchange). I redeemed my ORN from staking and sold it at $3.60. This transaction earned me more than 300% return. Therefore, the more coins listed, the more opportunities I'll have to replicate this particular transaction to other small-cap altcoins.SinceCoinbase's coin listing is small, traders/investors like myself will find it difficult to find these kinds of opportunities. Furthermore, many of the largest-cap coins are not listed onCoinbase. This is one of the main reasons why I did not useCoinbase; I theorize that many traders/investors like myself feel that way. (Let me know in the comments.)In a recent lawsuit, a man claiming to beCoinbase's client capitalized on the legal battle between Ripple Labs’ battle and U.S. Securities and Exchange Commission (SEC), suedCoinbase for selling XRP tokens and sought compensations and other relief. According to CoinMarketCap.com, XRP is no longer listed onCoinbase. However, it is listed on more than500 other centralized exchanges(excluding decentralized exchanges) that are much smaller thanCoinbase outside the US.XRP is the 7th biggest cryptocurrency by market cap as of the time of writing. Many other top cryptocurrencies are also not found onCoinbase, such as BNB (ranked 3rd), ADA (ranked 4th), DOT (ranked 6th). Amongthe 10 highest-rated centralized exchanges(refer to Table 1), only Bitstamp (18) offers fewer cryptocurrencies thanCoinbase (49), while the market leader (Binance) ledCoinbase by 700% in coin listings.Since regulation can directly affect coin listings, a competitive advantage of an exchange,Coinbase already faces overwhelming challenges to compete on this front alone.Table 1: Top 10 Spot Exchange Ranked by CoinMarketCap Ratings.Source: Table created by Author fromCoinMarketCapOther Regulatory RisksRegulatory risks extend beyond coin listings and the US.Coinbase offers its services to52 countries. If any of the 52 countries ban crypto assets, its revenue would be adversely affected. It is not uncommon for centralized exchanges to relocate to another country due to regulations. While India isplotting a move to ban cryptocurrencies, many exchanges apply forlicenses to move out from India.Statistically speaking, 108 exchangesshut downin 2020, compared to 81 in 2019. At least 3 are shut down by government(s) in 2020, and at least 2 in 2019.Although it seems unlikely for the US to follow China's and India's footsteps to drastically ban crypto-assets now, regulatory risks remain major risks toCoinbase.Fundamental Risk 2: Losing a Winner-Takes-All MarketThere are 2 types of crypto exchanges: centralized and decentralized. Both have pros and cons. The best known centralized exchange is Binance, while the best known decentralized exchange is Uniswap. Although centralized exchanges may require a license by a governing body, decentralized exchanges might not, as decentralized exchanges can have avarying degree of centralized components. Both centralized and decentralized exchanges have their respective roles in the crypto ecosystem, hence I think that both are here to stay.Many of the decentralized exchange source codes are open source (full listshere). In other words, virtually anyone can develop and host a decentralized exchange. This implies a shallow barrier to entry. Uniswap is the market leader in the decentralized exchange space. Itrecordedmore than $58bn volume in 2020, up 15,000% from 2019. Note that Uniswap wasfirst launchedin November 2018, compared toCoinbase in 2012.On the other hand, Binance, the market leader in the centralized exchange space, recorded a total of$1.417 trillion spot trading volume in 2020, an increase of 36% from 2019. This figure does not even include other trading volumes, such as options, futures, margin, and other services, which amounted to $1.7 trillion, a 2800% increase from 2019.In comparison,Coinbase only recorded $445bn total trading volume in 2020, a 39% increase in 2019. This is evidence that the market leader is pulling away, implying a winner-takes-all market. This becomes evident by referring to Table 1, where the market leader has more than 10 times the trading value than the 2nd place (Coinbase).Furthermore, many traditional financial, non-financial international corporations and fintech companies are also participating in the competition. One of the latest addition is ApplePay.ApplePaynow has official support for cryptocurrencies, with GooglePay and SamsungPay to follow suit. Other note-worthy companies include Square, Paypal, and Visa.In my opinion,Coinbase looks to be on the losing side if this market is indeed a winner-takes-all market. Further,Coinbase could be losing market more market share as more competition arises.Source:BusinessofAppsValuationThe tables below showed thatCoinbase's profit margin is healthy at 28% in 2020. Revenue growth rate compounds at approximately 7% annually from 2017-2020, but profits declined.Coinbase's valuation in 2017 remains the most attractive, at 1.725 P/S (Price-to-Sales ratio) and 4.21 P/E (Price-to-Earnings ratio). Earlier this month,Coinbase's IPO valuation is pegged at$100bn. However, recent reports indicated a decrease inCoinbase's IPO valuation to$68bn.At a valuation of $100bn and $68bn,Coinbase is valued at approximately 333 P/E and 211 P/E respectively, or approximately 87.7 P/S and 59.65 P/S respectively.Coinbase's valuation in 2020 is a far cry from 2017. Perhaps,Coinbase is pushing for its IPO to cash in on the overall stock market's high valuation.Nevertheless, considering the 2 fundamental risks outlined above, marginal revenue growth and declined profits,Coinbase is overvalued at the current valuation in my opinion. The current decline in growth stocks further deterioratesCoinbase's investment value proposition.Table 3:Coinbase's Revenue from 2016-2020Source:BusinessofAppsTable 4:Coinbase's Profit from 2016-2020Source:BusinessofAppsTable 5:Coinbase's Historical ValuationsSource:BusinessofAppsVerdictIn my opinion, the current valuation ofCoinbase couldn't be justified even though the crypto industry is growing rapidly in general. This is down toCoinbase's 2 fundamental risks outlined in this article, marginal growth, sky-high valuation, and the decline in the growth stocks.The reason I retain a neutral outlook onCoinbase is the overall outlook of the industry. On the other hand, we can participate in Binance, the market leader in the centralized exchange space, to maximize investment growth. Although Binance is not publicly traded, we can participate in its growth by buying its platform token (BNB).Binance uses part of its profitsto buy back its platform token (BNB)periodically. This results in a gradual increase in its token's price, a similar effect of shares buyback. Hence, I participate in Binance's growth by buying BNB, which saw a 670% YTD return.","news_type":1},"isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3575408338074495","authorId":"3575408338074495","name":"我发大财了","avatar":"https://community-static.tradeup.com/news/850ce10f8979981b703d0999ccb63c31","crmLevel":7,"crmLevelSwitch":1,"idStr":"3575408338074495","authorIdStr":"3575408338074495"},"content":"Reply to comment please","text":"Reply to comment please","html":"Reply to comment please"}],"imageCount":0,"langContent":"EN","totalScore":0},{"id":343041691,"gmtCreate":1617666318213,"gmtModify":1704701463378,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Good news&nbsp;","listText":"Good news&nbsp;","text":"Good news","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":4,"repostSize":0,"link":"https://ttm.financial/post/343041691","repostId":"2125765476","repostType":4,"repost":{"id":"2125765476","kind":"highlight","pubTimestamp":1617635341,"share":"https://ttm.financial/m/news/2125765476?lang=&edition=fundamental","pubTime":"2021-04-05 23:09","market":"us","language":"en","title":"Is Microsoft Stock a Buy?","url":"https://stock-news.laohu8.com/highlight/detail?id=2125765476","media":"Motley Fool","summary":"This tech giant has helped investors beat the market in recent years. Can it continue?","content":"<p>This tech giant has helped investors beat the market in recent years. Can it continue?</p>\n<p><b>Microsoft</b> (NASDAQ:MSFT) is <a href=\"https://laohu8.com/S/AONE\">one</a> of the largest enterprises in the world with a market cap of $1.8 trillion. Its operations span from office productivity and collaboration tools to cloud computing and gaming services.</p>\n<p>Over the past three years, Microsoft stock has outperformed the broad market, jumping over 160% compared to the 52% gain of the<b>S&amp;P 500</b>. But past success is no guarantee of future performance, so is Microsoft still a buy?</p>\n<p>Productivity software</p>\n<p>Microsoft is the clear market leader&nbsp;in office productivity software. Applications like Word, PowerPoint, and Excel are industry standards, and collaboration tools like Teams and SharePoint make it possible to work together from anywhere.</p>\n<p><img src=\"https://static.tigerbbs.com/31a27392be61263195d52b55bf08c9bb\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Microsoft.</p>\n<p>Not surprisingly, the pandemic sparked strong demand for many of these products. For instance, Microsoft Whiteboard in Teams -- a feature that allows remote collaboration -- has seen a 12-fold increase&nbsp;in monthly active users over the past year. And while Teams is a free product, it adds substantial value to Microsoft 365, the company's software-as-a-service offering.</p>\n<p>In the first half of fiscal 2021 (the six months ended Dec. 31, 2020), sales in Microsoft's productivity segment jumped 12%, driven by 21% growth&nbsp;in Office 365 commercial revenue. Also noteworthy, Dynamics 365 sales -- a hybrid of enterprise resource planning (ERP) and customer relationship management (CRM) software&nbsp;-- jumped 38%&nbsp;during the same period.</p>\n<p><b>Cloud computing and gaming</b></p>\n<p>Microsoft Azure is the second most popular public cloud in the world, and it's gaining ground on&nbsp;<b>Amazon</b> Web Services (AWS). At the end of 2020, Azure had achieved 20% market share, up from 15%&nbsp;at the end of 2018. Meanwhile, AWS has dropped from 33% to 32% over that period.</p>\n<p>To avoid vendor lock-in, more cloud computing customers are opting for hybrid or multi-cloud solutions&nbsp;-- meaning cloud resources are split between on-premise data centers and <a href=\"https://laohu8.com/S/AONE.U\">one</a> or more public clouds. Microsoft has leaned into this trend&nbsp;and established itself as a leader.</p>\n<p>Azure Arc enables clients to extend Azure management to any environment. Put another way, users can manage all cloud resources from one location, even if those resources aren't stored in Microsoft's cloud. That greatly reduces complexity, and it makes a strong case for why clients should choose Azure as part of their cloud strategy.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/859ca01b7bf928d21645695411d86ba8\" tg-width=\"700\" tg-height=\"550\"><span>Image source: Microsoft.</span></p>\n<p>In gaming, Microsoft launched the Xbox series X and S last November -- the series X was designed for performance while the series S comes at a more affordable price. In a recent earnings call, CEO Satya Nadella called it \"the most successful\" launch in the company's history \"with the most devices ever sold in a launch month.\" That helped drive gaming revenue of $2.3 billion in the first six months of fiscal 2021, up 38%&nbsp;from the prior year.</p>\n<p><b>The big picture</b></p>\n<p>Microsoft has delivered an impressive financial performance in recent years, driven primarily by strength in its productivity and cloud computing businesses.</p>\n<p>Both revenue and free cash flow have logged double-digit compound annual growth rates, and investors should note the company's gross margin has trended upward as well, rising from 65% in 2017 to 68% in the trailing 12-month period. That improving profitability has actually helped free cash flow grow more quickly than revenue.</p>\n<p>Also noteworthy, Microsoft currently has $132 billion in cash, equivalents, and short-term investments on its balance sheet. That's more than double its $60 billion of debt, putting the company in a very healthy financial position.</p>\n<p>In terms of valuation, Microsoft trades at 12 times sales and 36 times earnings. Both of those figures are at the high end of their historical ranges. In other words, the stock looks more pricey today than it has for most of the last decade.</p>\n<p><b>The verdict</b></p>\n<p>Investors should keep in mind that while Microsoft's vast operations come with an enormous market opportunity, the company faces competition from virtually every angle. Most notably, in cloud computing, the tech giant squares off with AWS and<b>Alphabet</b>'s Google Cloud. And in the market for collaboration and CRM software, Microsoft competes with<b>salesforce.com</b>, a rivalry that could become more intense if <a href=\"https://laohu8.com/S/CRM\">Salesforce</a>'s acquisition of<b>Slack</b> wins approval.</p>\n<p>However, Microsoft is a very profitable business with deep pockets and a strong competitive position in several industries. From that perspective, this stock looks like a good addition to any portfolio, even at today's elevated valuation.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Is Microsoft Stock a Buy?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIs Microsoft Stock a Buy?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-05 23:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/05/is-microsoft-stock-a-buy/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>This tech giant has helped investors beat the market in recent years. Can it continue?\nMicrosoft (NASDAQ:MSFT) is one of the largest enterprises in the world with a market cap of $1.8 trillion. Its ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/05/is-microsoft-stock-a-buy/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09086":"华夏纳指-U","03086":"华夏纳指","MSFT":"微软"},"source_url":"https://www.fool.com/investing/2021/04/05/is-microsoft-stock-a-buy/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2125765476","content_text":"This tech giant has helped investors beat the market in recent years. Can it continue?\nMicrosoft (NASDAQ:MSFT) is one of the largest enterprises in the world with a market cap of $1.8 trillion. Its operations span from office productivity and collaboration tools to cloud computing and gaming services.\nOver the past three years, Microsoft stock has outperformed the broad market, jumping over 160% compared to the 52% gain of theS&P 500. But past success is no guarantee of future performance, so is Microsoft still a buy?\nProductivity software\nMicrosoft is the clear market leader in office productivity software. Applications like Word, PowerPoint, and Excel are industry standards, and collaboration tools like Teams and SharePoint make it possible to work together from anywhere.\n\nImage source: Microsoft.\nNot surprisingly, the pandemic sparked strong demand for many of these products. For instance, Microsoft Whiteboard in Teams -- a feature that allows remote collaboration -- has seen a 12-fold increase in monthly active users over the past year. And while Teams is a free product, it adds substantial value to Microsoft 365, the company's software-as-a-service offering.\nIn the first half of fiscal 2021 (the six months ended Dec. 31, 2020), sales in Microsoft's productivity segment jumped 12%, driven by 21% growth in Office 365 commercial revenue. Also noteworthy, Dynamics 365 sales -- a hybrid of enterprise resource planning (ERP) and customer relationship management (CRM) software -- jumped 38% during the same period.\nCloud computing and gaming\nMicrosoft Azure is the second most popular public cloud in the world, and it's gaining ground on Amazon Web Services (AWS). At the end of 2020, Azure had achieved 20% market share, up from 15% at the end of 2018. Meanwhile, AWS has dropped from 33% to 32% over that period.\nTo avoid vendor lock-in, more cloud computing customers are opting for hybrid or multi-cloud solutions -- meaning cloud resources are split between on-premise data centers and one or more public clouds. Microsoft has leaned into this trend and established itself as a leader.\nAzure Arc enables clients to extend Azure management to any environment. Put another way, users can manage all cloud resources from one location, even if those resources aren't stored in Microsoft's cloud. That greatly reduces complexity, and it makes a strong case for why clients should choose Azure as part of their cloud strategy.\nImage source: Microsoft.\nIn gaming, Microsoft launched the Xbox series X and S last November -- the series X was designed for performance while the series S comes at a more affordable price. In a recent earnings call, CEO Satya Nadella called it \"the most successful\" launch in the company's history \"with the most devices ever sold in a launch month.\" That helped drive gaming revenue of $2.3 billion in the first six months of fiscal 2021, up 38% from the prior year.\nThe big picture\nMicrosoft has delivered an impressive financial performance in recent years, driven primarily by strength in its productivity and cloud computing businesses.\nBoth revenue and free cash flow have logged double-digit compound annual growth rates, and investors should note the company's gross margin has trended upward as well, rising from 65% in 2017 to 68% in the trailing 12-month period. That improving profitability has actually helped free cash flow grow more quickly than revenue.\nAlso noteworthy, Microsoft currently has $132 billion in cash, equivalents, and short-term investments on its balance sheet. That's more than double its $60 billion of debt, putting the company in a very healthy financial position.\nIn terms of valuation, Microsoft trades at 12 times sales and 36 times earnings. Both of those figures are at the high end of their historical ranges. In other words, the stock looks more pricey today than it has for most of the last decade.\nThe verdict\nInvestors should keep in mind that while Microsoft's vast operations come with an enormous market opportunity, the company faces competition from virtually every angle. Most notably, in cloud computing, the tech giant squares off with AWS andAlphabet's Google Cloud. And in the market for collaboration and CRM software, Microsoft competes withsalesforce.com, a rivalry that could become more intense if Salesforce's acquisition ofSlack wins approval.\nHowever, Microsoft is a very profitable business with deep pockets and a strong competitive position in several industries. From that perspective, this stock looks like a good addition to any portfolio, even at today's elevated valuation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":52,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":349136754,"gmtCreate":1617577621378,"gmtModify":1704700444619,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Great&nbsp;","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Great&nbsp;","text":"$Tiger Brokers(TIGR)$Great","images":[{"img":"https://static.tigerbbs.com/84b702d97e87f20e04067a2d5c16df48","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/349136754","isVote":1,"tweetType":1,"viewCount":92,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":351411642,"gmtCreate":1616624393086,"gmtModify":1704796503275,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Comments ?","listText":"Comments ?","text":"Comments ?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/351411642","repostId":"1140740478","repostType":4,"repost":{"id":"1140740478","kind":"news","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":1616598220,"share":"https://ttm.financial/m/news/1140740478?lang=&edition=fundamental","pubTime":"2021-03-24 23:03","market":"hk","language":"en","title":"U.S. SEC begins roll-out of law aimed at delisting Chinese firms","url":"https://stock-news.laohu8.com/highlight/detail?id=1140740478","media":"Reuters","summary":"The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.The “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.The amendments will require firms prove to the SEC they are not owne","content":"<p>The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.</p>\n<p>The “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.</p>\n<p>The amendments will require firms prove to the SEC they are not owned or controlled by an entity of a foreign government and require disclosure around audit arrangements and governmental influence, the SEC said in a statement.</p>\n<p>The agency fast-tracked the rule through “interim final amendments”, but is seeking public comments on a process for identifying companies that fail to meet the standards.</p>\n<p>The legislation required the SEC to issue rules around how companies should submit documentation within 90 days of enactment.</p>\n<p>The SEC is still “active assessing” how to roll out the rest of the law’s requirements, including the identification process and trading prohibition requirements, the statement said.</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>U.S. SEC begins roll-out of law aimed at delisting Chinese firms</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\">\nU.S. SEC begins roll-out of law aimed at delisting Chinese firms\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\">2021-03-24 23:03</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.</p>\n<p>The “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.</p>\n<p>The amendments will require firms prove to the SEC they are not owned or controlled by an entity of a foreign government and require disclosure around audit arrangements and governmental influence, the SEC said in a statement.</p>\n<p>The agency fast-tracked the rule through “interim final amendments”, but is seeking public comments on a process for identifying companies that fail to meet the standards.</p>\n<p>The legislation required the SEC to issue rules around how companies should submit documentation within 90 days of enactment.</p>\n<p>The SEC is still “active assessing” how to roll out the rest of the law’s requirements, including the identification process and trading prohibition requirements, the statement said.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1140740478","content_text":"The top U.S. securities regulator on Wednesday said it has adopted a measure that would kick foreign companies off U.S. stock exchanges if they do not comply with U.S. auditing standards.\nThe “Holding Foreign Companies Accountable Act”, signed into law by President Donald Trump in December, is aimed at removing Chinese companies from U.S. exchanges if they have fail to comply with U.S. auditing standards for three years in a row.\nThe amendments will require firms prove to the SEC they are not owned or controlled by an entity of a foreign government and require disclosure around audit arrangements and governmental influence, the SEC said in a statement.\nThe agency fast-tracked the rule through “interim final amendments”, but is seeking public comments on a process for identifying companies that fail to meet the standards.\nThe legislation required the SEC to issue rules around how companies should submit documentation within 90 days of enactment.\nThe SEC is still “active assessing” how to roll out the rest of the law’s requirements, including the identification process and trading prohibition requirements, the statement said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":55,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9097309193,"gmtCreate":1645325063711,"gmtModify":1676534018893,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Ok.. good","listText":"Ok.. good","text":"Ok.. good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9097309193","repostId":"1171234681","repostType":4,"repost":{"id":"1171234681","kind":"news","pubTimestamp":1645324391,"share":"https://ttm.financial/m/news/1171234681?lang=&edition=fundamental","pubTime":"2022-02-20 10:33","market":"us","language":"en","title":"PayPal: Panic Time","url":"https://stock-news.laohu8.com/highlight/detail?id=1171234681","media":"Seeking Alpha","summary":"SummaryPayPal has executed well during the pandemic, but the market bid up shares to unreasonably hi","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>PayPal has executed well during the pandemic, but the market bid up shares to unreasonably high levels.</li><li>This has been corrected now, as shares have been falling for months.</li><li>Right now, PayPal actually trades at a huge discount compared to how the company was valued in the past. On top of that, shares are oversold from a technical perspective.</li><li>PYPL will likely deliver solid returns in the long run from the current level. But with markets in panic mode, investors might get an even better deal in the coming weeks.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0ab166f91943d608b9be67aa3068875b\" tg-width=\"1536\" tg-height=\"1024\" width=\"100%\" height=\"auto\"/><span>Nattakorn Maneerat/iStock via Getty Images</span></p><p><b>Article Thesis</b></p><p>In the wake of a large-scale fintech sell-off, PayPal Holdings, Inc. (PYPL) has seen its shares drop tremendously over the last couple of months. From a very overvalued level, shares have now dropped to a<i>below-average</i>valuation. PayPal has a solid long-term growth outlook I believe, even though it&#39;s not as dominant as some other payment companies, such as Visa (V) or Mastercard (MA).</p><p>With the market seemingly in panic mode when it comes to PayPal, sending shares lower every day, investors with a long-term focus could benefit a lot from the current, pretty weak sentiment by buying when the market is fearful. One can argue that investors should wait for shares to bottom out before stepping into a position, but the current very oversold condition could make a bounce likely in the near term.</p><p><b>Fintechs As A COVID Play Get Decimated</b></p><p>During the first phase of the pandemic, some tech companies that were seen as pandemic beneficiaries saw their shares rally to new highs, even as the broad market was struggling. This included PayPal Holdings and many of its peers in the fintech industry. On the back of rising e-commerce sales, investors were convinced that PayPal and its peers would grow massively in the pandemic environment. And indeed, 2020 and 2021 were very solid years for PayPal:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/69f15186a44a5dd4ed9c51c88f089916\" tg-width=\"640\" tg-height=\"177\" width=\"100%\" height=\"auto\"/><span>PYPL results (Seeking Alpha)</span></p><p>We see that PayPal was able to grow its revenue by around 20%-30% between Q2 2020 and Q2 2021, i.e. during the first year of the pandemic. During the second half of 2021, growth slowed down but remained at a solid low-teens level. Looking at PYPL&#39;s share price history, the market was overreacting quite a lot to this compelling underlying growth. PYPL&#39;s shares did not rise by 20% or 30% in 2020 and 2021. Instead, shares climbed from $108 at the beginning of 2020 to $310 at the peak, which equates to a 190% increase in its share price. This was clearly not warranted by the underlying growth the company experienced. Instead, these huge share price gains were primarily driven by massive multiple expansion. That is a great thing to happen for those that bought<i>before</i>multiples started to expand and that sold at the top. But for those that bought at historically high valuations, the story is different. Despite the fact that PayPal has continued to deliver solid business growth in the last two quarters, those that bought at the highs have seen their investment crash by around 70% -- it will take a 200% increase in PayPal&#39;s share price for them to break even. Valuations don&#39;t matter until they do, and those that chased PYPL without considering the high valuation paid the price.</p><p>For those that remained on the sidelines, or that locked in gains on the way up, the recent massive pullback could provide for a compelling entry point, however. In 2022 alone, PayPal has dropped by 42%, and the company has lost about $240 billion in market capitalization from the highs seen last year. PayPal is not alone in that, however. Instead, many other &#34;bubbly&#34;, overly expensive pandemic favorites among the fintech names have performed badly in recent months as well:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/6cc5112c8148e2002b115c26a5bbcc82\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>SoFi Technologies (SOFI), Upstart Holdings (UPST), and LendingClub (LC) all saw their shares drop by 50% to 60%+ from the highs they hit last year. PayPal thus is not an outlier. Instead, it has performed more or less in line with how some of its peers performed. The whole industry was trading at unreasonable levels last year and has now been correcting for months.</p><p><b>PayPal&#39;s Growth Potential In The Coming Years</b></p><p>PayPal is a household name with strong brand recognition and belongs to the largest payment companies in the world. Its total payment volume has easily surpassed $1 trillion in 2021:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/d51862081c9cf6247687e326e453b5ae\" tg-width=\"640\" tg-height=\"359\" width=\"100%\" height=\"auto\"/><span>PYPL TPV and revenue (PYPL presentation)</span></p><p>With total payment volume at $1.25 trillion in 2021, PayPal is still substantially smaller than some of the credit card giants such as Visa (which has TPV of around $3 trillion per quarter) or Mastercard, but outside of those two, PayPal is a leading player in the payment space. PayPal also managed to grow its payment volume at an attractive pace in 2021, at 33%.</p><p>Revenue, meanwhile, grew by 18% in 2021. That&#39;s a very solid growth rate in absolute terms, but at the same time, the substantial discrepancy between PayPal&#39;s TPV growth and its revenue growth shows that the company&#39;s take rate continues to decline -- which naturally isn&#39;t positive at all. As long as TPV continues to grow at a rapid pace, revenues should continue to grow, however.</p><p>For 2022, PayPal is forecasting payment volumes of $1.5 trillion, or about 20% more than in 2021. Revenues are expected to climb by around 16% this year. On one hand, this means that the take rate will continue to shrink, as revenues will underperform TPV growth again. But the discrepancy will be lower than in 2021, which indicates that the take rate is declining at a slower pace this year. If PayPal manages to stop the take rate declines eventually, that would be a very positive development, as it would allow the company to grow its revenue in line with future TPV growth.</p><p>The overall payment volume growth outlook for PayPal is solid beyond 2022 as well. E-commerce spending will continue to grow around the globe, with projections seeing double-digit growth in 2023, 2024, and 2025:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/932fd874fee815df965356ecf97b8a7b\" tg-width=\"640\" tg-height=\"482\" width=\"100%\" height=\"auto\"/><span>E-commerce growth (statista.com)</span></p><p>With global e-commerce sales continuing to grow, fintech companies and payment solution players such as PayPal operate with steady macro tailwinds. In other areas, the macro outlook is positive as well. In a world that grows ever more connected, cross-border payment volumes should continue to climb. Here, PayPal is advantaged to benefit from market growth, as its technology and availability in many different countries positions it well to be one of the top players in processing these growing cross-border payment volumes.</p><p>With PayPal adding new users constantly (10 million during the most recent quarter alone), it should be able to grow its payment volumes at an attractive pace for many years. With more and more consumers around the world accessing the internet, PayPal still has significant growth potential when it comes to the number of customers it serves.</p><p><b>PayPal&#39;s Valuation: Getting Very Reasonable</b></p><p>PayPal always was seen as a growth company, thus its shares never were particularly cheap. Even before shares moved upwards at a rapid pace in 2020 and 2021, PayPal used to be a pricy stock:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/c635d0171bdf0e0509b5256c5a6ddc93\" tg-width=\"635\" tg-height=\"467\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>The 5-year and 7-year median earnings multiples are in the 50s. At the heights during the COVID bubble, PayPal was even more expensive, however. At a peak price of $310 in 2021, shares were valued at around 70x 2021&#39;s earnings per share -- it is not surprising that buying at that valuation didn&#39;t work out for investors.</p><p>Likewise, PayPal always traded with a relatively high EV/EBITDA multiple, with the longer-term median readings standing at around 30. During the heights in 2021, shares were even more expensive.</p><p>With shares dropping to just above $100, they have become way more reasonably valued, however. Based on current expectations, shares are, in fact, trading at a huge discount compared to how PYPL was valued in the past:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ce761bb96d4dc960244e62cf168ccaa4\" tg-width=\"635\" tg-height=\"450\" width=\"100%\" height=\"auto\"/><span>Data by YCharts</span></p><p>Shares are trading for 23x this year&#39;s expected earnings per share, while the earnings multiple based on next year&#39;s expected EPS is just 18. Likewise, the EV/EBITDA multiple is standing at just 17 today. These valuations are roughly half as high as the longer-term median valuations shown above. One can argue, of course, that PYPL always was too expensive when it traded at 50x earnings or higher in the past, and that seems like a very reasonable argument to me. On top of that, investors should also consider that the law of large numbers dictates that PayPal&#39;s growth in the coming years will likely be weaker than over the last five years. 2022 will also be a year during which PayPal will not grow its earnings per share meaningfully, despite solid revenue growth being expected, which can be explained by management&#39;s plan to invest in growth initiatives such as its Pay Later offerings.</p><p>There are thus good reasons to believe that PayPal will never again trade at 50x net profits, but the current valuation nevertheless seems far from high. A company that grows its revenue at double-digits and that will likely do so for years, and that trades at just above 20x net profits, seems like a very reasonable value to me.</p><p><b>Things To Consider</b></p><p>PayPal has ramped up its buybacks in Q4, returning $1.5 billion to its owners via share repurchases in that quarter alone ($3.4 billion in all of 2021). With shares becoming way less expensive in 2022 so far, PayPal hopefully will ramp up its buybacks further. Shares have dropped more than 40% so far this year, which means that buybacks at current prices are way more powerful than they were last year. In retrospect, timing with buybacks in 2021 has not been great at all, but the company&#39;s interest in returning cash to its owners via buybacks generally is positive. If PayPal keeps that going, the share count could shrink quite a lot this year and beyond.</p><p>From a technical perspective, PayPal&#39;s shares are oversold in the short term. The stock&#39;s relative strength index stands at an abysmally low21right now, with RSI readings below 30 generally suggesting that shares are oversold. From a technical perspective, a bounce would thus not be overly surprising. On the other hand, there&#39;s the old adage of never trying to catch a falling knife -- and PYPL surely is a falling knife right now. Since markets are still pretty jittery due to macro factors such as Fed policy, the Ukraine situation, etc. it seems very much possible that PYPL will fall under $100 in the coming days or weeks. Waiting for an even more opportune entry point could thus pay off.</p><p><b>Takeaway</b></p><p>During the pandemic, PYPL was bid up to bubble levels. Over the last couple of months, however, the market seems to be in panic mode -- shares have sold off massively, with them dropping more than 40% in 2022 alone. Shares have fallen through their historical valuation ranges and are now trading at a huge discount compared to how PYPL was valued in the past. From a technical perspective, shares are way oversold as well.</p><p>I do believe that PayPal is very reasonably valued today and that there is a good chance that investors will see healthy returns over the coming years when they buy today. But waiting for an even better entry point could allow for even better returns. Since markets are willing to sell fintech companies at any price right now, even lower entry points would not be a large surprise, I believe.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PayPal: Panic Time</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\">\nPayPal: Panic Time\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-02-20 10:33 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4488266-paypal-stock-price-valuation-panic-time><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryPayPal has executed well during the pandemic, but the market bid up shares to unreasonably high levels.This has been corrected now, as shares have been falling for months.Right now, PayPal ...</p>\n\n<a href=\"https://seekingalpha.com/article/4488266-paypal-stock-price-valuation-panic-time\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PYPL":"PayPal"},"source_url":"https://seekingalpha.com/article/4488266-paypal-stock-price-valuation-panic-time","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1171234681","content_text":"SummaryPayPal has executed well during the pandemic, but the market bid up shares to unreasonably high levels.This has been corrected now, as shares have been falling for months.Right now, PayPal actually trades at a huge discount compared to how the company was valued in the past. On top of that, shares are oversold from a technical perspective.PYPL will likely deliver solid returns in the long run from the current level. But with markets in panic mode, investors might get an even better deal in the coming weeks.Nattakorn Maneerat/iStock via Getty ImagesArticle ThesisIn the wake of a large-scale fintech sell-off, PayPal Holdings, Inc. (PYPL) has seen its shares drop tremendously over the last couple of months. From a very overvalued level, shares have now dropped to abelow-averagevaluation. PayPal has a solid long-term growth outlook I believe, even though it's not as dominant as some other payment companies, such as Visa (V) or Mastercard (MA).With the market seemingly in panic mode when it comes to PayPal, sending shares lower every day, investors with a long-term focus could benefit a lot from the current, pretty weak sentiment by buying when the market is fearful. One can argue that investors should wait for shares to bottom out before stepping into a position, but the current very oversold condition could make a bounce likely in the near term.Fintechs As A COVID Play Get DecimatedDuring the first phase of the pandemic, some tech companies that were seen as pandemic beneficiaries saw their shares rally to new highs, even as the broad market was struggling. This included PayPal Holdings and many of its peers in the fintech industry. On the back of rising e-commerce sales, investors were convinced that PayPal and its peers would grow massively in the pandemic environment. And indeed, 2020 and 2021 were very solid years for PayPal:PYPL results (Seeking Alpha)We see that PayPal was able to grow its revenue by around 20%-30% between Q2 2020 and Q2 2021, i.e. during the first year of the pandemic. During the second half of 2021, growth slowed down but remained at a solid low-teens level. Looking at PYPL's share price history, the market was overreacting quite a lot to this compelling underlying growth. PYPL's shares did not rise by 20% or 30% in 2020 and 2021. Instead, shares climbed from $108 at the beginning of 2020 to $310 at the peak, which equates to a 190% increase in its share price. This was clearly not warranted by the underlying growth the company experienced. Instead, these huge share price gains were primarily driven by massive multiple expansion. That is a great thing to happen for those that boughtbeforemultiples started to expand and that sold at the top. But for those that bought at historically high valuations, the story is different. Despite the fact that PayPal has continued to deliver solid business growth in the last two quarters, those that bought at the highs have seen their investment crash by around 70% -- it will take a 200% increase in PayPal's share price for them to break even. Valuations don't matter until they do, and those that chased PYPL without considering the high valuation paid the price.For those that remained on the sidelines, or that locked in gains on the way up, the recent massive pullback could provide for a compelling entry point, however. In 2022 alone, PayPal has dropped by 42%, and the company has lost about $240 billion in market capitalization from the highs seen last year. PayPal is not alone in that, however. Instead, many other \"bubbly\", overly expensive pandemic favorites among the fintech names have performed badly in recent months as well:Data by YChartsSoFi Technologies (SOFI), Upstart Holdings (UPST), and LendingClub (LC) all saw their shares drop by 50% to 60%+ from the highs they hit last year. PayPal thus is not an outlier. Instead, it has performed more or less in line with how some of its peers performed. The whole industry was trading at unreasonable levels last year and has now been correcting for months.PayPal's Growth Potential In The Coming YearsPayPal is a household name with strong brand recognition and belongs to the largest payment companies in the world. Its total payment volume has easily surpassed $1 trillion in 2021:PYPL TPV and revenue (PYPL presentation)With total payment volume at $1.25 trillion in 2021, PayPal is still substantially smaller than some of the credit card giants such as Visa (which has TPV of around $3 trillion per quarter) or Mastercard, but outside of those two, PayPal is a leading player in the payment space. PayPal also managed to grow its payment volume at an attractive pace in 2021, at 33%.Revenue, meanwhile, grew by 18% in 2021. That's a very solid growth rate in absolute terms, but at the same time, the substantial discrepancy between PayPal's TPV growth and its revenue growth shows that the company's take rate continues to decline -- which naturally isn't positive at all. As long as TPV continues to grow at a rapid pace, revenues should continue to grow, however.For 2022, PayPal is forecasting payment volumes of $1.5 trillion, or about 20% more than in 2021. Revenues are expected to climb by around 16% this year. On one hand, this means that the take rate will continue to shrink, as revenues will underperform TPV growth again. But the discrepancy will be lower than in 2021, which indicates that the take rate is declining at a slower pace this year. If PayPal manages to stop the take rate declines eventually, that would be a very positive development, as it would allow the company to grow its revenue in line with future TPV growth.The overall payment volume growth outlook for PayPal is solid beyond 2022 as well. E-commerce spending will continue to grow around the globe, with projections seeing double-digit growth in 2023, 2024, and 2025:E-commerce growth (statista.com)With global e-commerce sales continuing to grow, fintech companies and payment solution players such as PayPal operate with steady macro tailwinds. In other areas, the macro outlook is positive as well. In a world that grows ever more connected, cross-border payment volumes should continue to climb. Here, PayPal is advantaged to benefit from market growth, as its technology and availability in many different countries positions it well to be one of the top players in processing these growing cross-border payment volumes.With PayPal adding new users constantly (10 million during the most recent quarter alone), it should be able to grow its payment volumes at an attractive pace for many years. With more and more consumers around the world accessing the internet, PayPal still has significant growth potential when it comes to the number of customers it serves.PayPal's Valuation: Getting Very ReasonablePayPal always was seen as a growth company, thus its shares never were particularly cheap. Even before shares moved upwards at a rapid pace in 2020 and 2021, PayPal used to be a pricy stock:Data by YChartsThe 5-year and 7-year median earnings multiples are in the 50s. At the heights during the COVID bubble, PayPal was even more expensive, however. At a peak price of $310 in 2021, shares were valued at around 70x 2021's earnings per share -- it is not surprising that buying at that valuation didn't work out for investors.Likewise, PayPal always traded with a relatively high EV/EBITDA multiple, with the longer-term median readings standing at around 30. During the heights in 2021, shares were even more expensive.With shares dropping to just above $100, they have become way more reasonably valued, however. Based on current expectations, shares are, in fact, trading at a huge discount compared to how PYPL was valued in the past:Data by YChartsShares are trading for 23x this year's expected earnings per share, while the earnings multiple based on next year's expected EPS is just 18. Likewise, the EV/EBITDA multiple is standing at just 17 today. These valuations are roughly half as high as the longer-term median valuations shown above. One can argue, of course, that PYPL always was too expensive when it traded at 50x earnings or higher in the past, and that seems like a very reasonable argument to me. On top of that, investors should also consider that the law of large numbers dictates that PayPal's growth in the coming years will likely be weaker than over the last five years. 2022 will also be a year during which PayPal will not grow its earnings per share meaningfully, despite solid revenue growth being expected, which can be explained by management's plan to invest in growth initiatives such as its Pay Later offerings.There are thus good reasons to believe that PayPal will never again trade at 50x net profits, but the current valuation nevertheless seems far from high. A company that grows its revenue at double-digits and that will likely do so for years, and that trades at just above 20x net profits, seems like a very reasonable value to me.Things To ConsiderPayPal has ramped up its buybacks in Q4, returning $1.5 billion to its owners via share repurchases in that quarter alone ($3.4 billion in all of 2021). With shares becoming way less expensive in 2022 so far, PayPal hopefully will ramp up its buybacks further. Shares have dropped more than 40% so far this year, which means that buybacks at current prices are way more powerful than they were last year. In retrospect, timing with buybacks in 2021 has not been great at all, but the company's interest in returning cash to its owners via buybacks generally is positive. If PayPal keeps that going, the share count could shrink quite a lot this year and beyond.From a technical perspective, PayPal's shares are oversold in the short term. The stock's relative strength index stands at an abysmally low21right now, with RSI readings below 30 generally suggesting that shares are oversold. From a technical perspective, a bounce would thus not be overly surprising. On the other hand, there's the old adage of never trying to catch a falling knife -- and PYPL surely is a falling knife right now. Since markets are still pretty jittery due to macro factors such as Fed policy, the Ukraine situation, etc. it seems very much possible that PYPL will fall under $100 in the coming days or weeks. Waiting for an even more opportune entry point could thus pay off.TakeawayDuring the pandemic, PYPL was bid up to bubble levels. Over the last couple of months, however, the market seems to be in panic mode -- shares have sold off massively, with them dropping more than 40% in 2022 alone. Shares have fallen through their historical valuation ranges and are now trading at a huge discount compared to how PYPL was valued in the past. From a technical perspective, shares are way oversold as well.I do believe that PayPal is very reasonably valued today and that there is a good chance that investors will see healthy returns over the coming years when they buy today. But waiting for an even better entry point could allow for even better returns. Since markets are willing to sell fintech companies at any price right now, even lower entry points would not be a large surprise, I believe.","news_type":1},"isVote":1,"tweetType":1,"viewCount":192,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":835744341,"gmtCreate":1629759170983,"gmtModify":1676530119695,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tiger fall in sleep.","listText":"<a href=\"https://laohu8.com/S/TIGR\">$Tiger Brokers(TIGR)$</a>Tiger fall in sleep.","text":"$Tiger Brokers(TIGR)$Tiger fall in sleep.","images":[{"img":"https://static.tigerbbs.com/6f8438dfb6358c2fdb778fb5d3b8c513","width":"828","height":"1434"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835744341","isVote":1,"tweetType":1,"viewCount":715,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":190957843,"gmtCreate":1620575095982,"gmtModify":1704345101983,"author":{"id":"3579300278905475","authorId":"3579300278905475","name":"IvanAung","avatar":"https://static.tigerbbs.com/1a24371779f14f0f964eb414b9cf1812","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3579300278905475","authorIdStr":"3579300278905475"},"themes":[],"htmlText":"Watch this stock.","listText":"Watch this stock.","text":"Watch this stock.","images":[{"img":"https://static.tigerbbs.com/98193ea81025f8fbe89e59edd7da63ac","width":"750","height":"2053"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/190957843","isVote":1,"tweetType":1,"viewCount":18,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0}],"lives":[]}