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2021-06-23

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Krispy Kreme eyes near $4 bln valuation in U.S. IPO

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Forget AMC: These 3 Meme Stocks Actually Have a Future

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2021-06-23

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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":1624495409,"share":"https://ttm.financial/m/news/2145513016?lang=&edition=fundamental","pubTime":"2021-06-24 08:43","market":"us","language":"en","title":"Exxon must face Massachusetts lawsuit alleging climate change deceit","url":"https://stock-news.laohu8.com/highlight/detail?id=2145513016","media":"Reuters","summary":"June 23 (Reuters) - A Massachusetts state judge has rejected Exxon Mobil Corp's bid to dismiss a law","content":"<p>June 23 (Reuters) - A Massachusetts state judge has rejected Exxon Mobil Corp's bid to dismiss a lawsuit by state Attorney General Maura Healey accusing the oil company of misleading consumers and investors about its role in climate change.</p>\n<p>In a decision released on Wednesday, Superior Court Justice Karen Green in Boston said Exxon failed to show that the October 2019 lawsuit was meant to silence its views on climate change, including those Healey and her constituents might dispute.</p>\n<p>\"Climate change indisputably is a topic that has attracted government attention,\" Green wrote. \"It is apparent from the context in which they were made that many Exxon statements referenced in the complaint are not protected.\"</p>\n<p>Exxon said it was considering its next legal steps. \"This case lacks merit, and we look forward to defending the company,\" spokesperson Casey Norton said in an email.</p>\n<p>The decision came <a href=\"https://laohu8.com/S/AONE\">one</a> month after Engine No. 1, an activist hedge fund focused on climate change, won three seats on Exxon's 12-member board, an unexpected blow to an energy industry facing growing investor complaints about global warming.</p>\n<p>Healey had accused Irving, Texas-based Exxon of downplaying the impact its fossil fuel products had on climate change and the risks climate change posed to its business, in an effort to boost profit and its stock price.</p>\n<p>The lawsuit seeks civil penalties and other relief.</p>\n<p>Exxon claimed it wanted to inform the public about the environmental benefits of its products and about its climate policies.</p>\n<p>It had sought a dismissal under Massachusetts' law against strategic lawsuits against public participation, or anti-SLAPP law. Such lawsuits can intimidate speakers into silence.</p>\n<p>\"Today's rulings represent a significant step forward for my office's work to hold Exxon accountable,\" Healey, a Democrat, said in a statement.</p>\n<p>In December 2019, a New York state judge dismissed a lawsuit by that state's Attorney General Letitia James accusing Exxon of defrauding investors by hiding the true cost of climate change regulation.</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>Exxon must face Massachusetts lawsuit alleging climate change deceit</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\">\nExxon must face Massachusetts lawsuit alleging climate change deceit\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\">2021-06-24 08:43</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 23 (Reuters) - A Massachusetts state judge has rejected Exxon Mobil Corp's bid to dismiss a lawsuit by state Attorney General Maura Healey accusing the oil company of misleading consumers and investors about its role in climate change.</p>\n<p>In a decision released on Wednesday, Superior Court Justice Karen Green in Boston said Exxon failed to show that the October 2019 lawsuit was meant to silence its views on climate change, including those Healey and her constituents might dispute.</p>\n<p>\"Climate change indisputably is a topic that has attracted government attention,\" Green wrote. \"It is apparent from the context in which they were made that many Exxon statements referenced in the complaint are not protected.\"</p>\n<p>Exxon said it was considering its next legal steps. \"This case lacks merit, and we look forward to defending the company,\" spokesperson Casey Norton said in an email.</p>\n<p>The decision came <a href=\"https://laohu8.com/S/AONE\">one</a> month after Engine No. 1, an activist hedge fund focused on climate change, won three seats on Exxon's 12-member board, an unexpected blow to an energy industry facing growing investor complaints about global warming.</p>\n<p>Healey had accused Irving, Texas-based Exxon of downplaying the impact its fossil fuel products had on climate change and the risks climate change posed to its business, in an effort to boost profit and its stock price.</p>\n<p>The lawsuit seeks civil penalties and other relief.</p>\n<p>Exxon claimed it wanted to inform the public about the environmental benefits of its products and about its climate policies.</p>\n<p>It had sought a dismissal under Massachusetts' law against strategic lawsuits against public participation, or anti-SLAPP law. Such lawsuits can intimidate speakers into silence.</p>\n<p>\"Today's rulings represent a significant step forward for my office's work to hold Exxon accountable,\" Healey, a Democrat, said in a statement.</p>\n<p>In December 2019, a New York state judge dismissed a lawsuit by that state's Attorney General Letitia James accusing Exxon of defrauding investors by hiding the true cost of climate change regulation.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"XOM":"埃克森美孚"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145513016","content_text":"June 23 (Reuters) - A Massachusetts state judge has rejected Exxon Mobil Corp's bid to dismiss a lawsuit by state Attorney General Maura Healey accusing the oil company of misleading consumers and investors about its role in climate change.\nIn a decision released on Wednesday, Superior Court Justice Karen Green in Boston said Exxon failed to show that the October 2019 lawsuit was meant to silence its views on climate change, including those Healey and her constituents might dispute.\n\"Climate change indisputably is a topic that has attracted government attention,\" Green wrote. \"It is apparent from the context in which they were made that many Exxon statements referenced in the complaint are not protected.\"\nExxon said it was considering its next legal steps. \"This case lacks merit, and we look forward to defending the company,\" spokesperson Casey Norton said in an email.\nThe decision came one month after Engine No. 1, an activist hedge fund focused on climate change, won three seats on Exxon's 12-member board, an unexpected blow to an energy industry facing growing investor complaints about global warming.\nHealey had accused Irving, Texas-based Exxon of downplaying the impact its fossil fuel products had on climate change and the risks climate change posed to its business, in an effort to boost profit and its stock price.\nThe lawsuit seeks civil penalties and other relief.\nExxon claimed it wanted to inform the public about the environmental benefits of its products and about its climate policies.\nIt had sought a dismissal under Massachusetts' law against strategic lawsuits against public participation, or anti-SLAPP law. Such lawsuits can intimidate speakers into silence.\n\"Today's rulings represent a significant step forward for my office's work to hold Exxon accountable,\" Healey, a Democrat, said in a statement.\nIn December 2019, a New York state judge dismissed a lawsuit by that state's Attorney General Letitia James accusing Exxon of defrauding investors by hiding the true cost of climate change regulation.","news_type":1},"isVote":1,"tweetType":1,"viewCount":369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123034836,"gmtCreate":1624403143825,"gmtModify":1703835414239,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nicr","listText":"Nicr","text":"Nicr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123034836","repostId":"2145052095","repostType":4,"repost":{"id":"2145052095","pubTimestamp":1624375500,"share":"https://ttm.financial/m/news/2145052095?lang=&edition=fundamental","pubTime":"2021-06-22 23:25","market":"us","language":"en","title":"Forget AMC: These 3 Meme Stocks Actually Have a Future","url":"https://stock-news.laohu8.com/highlight/detail?id=2145052095","media":"Motley Fool","summary":"Not all meme stocks are alike.","content":"<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the <b>S&amp;P 500</b> is around 10% annually.</p>\n<p>While traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.</p>\n<p>No stock represents that phenomenon better than <b>AMC Entertainment Holdings</b> (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/e52f3c866905316452fa461447bc7057\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Bringing down the curtain on AMC</h3>\n<p>Beyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.</p>\n<p>The problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.</p>\n<p>Theater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.</p>\n<p>Theaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.</p>\n<p>That may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.</p>\n<p>AMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.</p>\n<p>While it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.</p>\n<p>AMC Entertainment is not a place for long-term investors to park their money.</p>\n<h3>Forget AMC and consider these meme stocks instead</h3>\n<p>Movie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.</p>\n<p><img src=\"https://static.tigerbbs.com/a5c7d1564239ae8b7f0599f43d88f184\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>1. Bed Bath &amp; Beyond</h3>\n<p>I had pretty much written off home furnishings retailer <b>Bed Bath &amp; Beyond</b> (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.</p>\n<p>Yet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath &amp; Beyond had amassed.</p>\n<p>The pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath &amp; Beyond has the chance to shine.</p>\n<p>One of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath &amp; Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.</p>\n<p>It has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.</p>\n<p><img src=\"https://static.tigerbbs.com/2b9b0706e36e2038b277532e6820963d\" tg-width=\"700\" tg-height=\"482\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>2. Corsair Gaming</h3>\n<p><b>Corsair Gaming</b> (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.</p>\n<p>Unlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.</p>\n<p>The company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as <a href=\"https://laohu8.com/S/AONE\">one</a> to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.</p>\n<p>Corsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.</p>\n<p>The company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on <b>Alphabet</b>'s YouTube. There are also millions of active streamers across Twitch and <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> Gaming, as well as on platforms of Chinese gaming sites <b>Huya</b> and <b>DouYu</b>, to drive sales of gaming and content-creation gear.</p>\n<p>There's a substantial growth trajectory still ahead for Corsair Gaming, <a href=\"https://laohu8.com/S/AONE.U\">one</a> that shouldn't be obscured by having become a meme stock favorite.</p>\n<p><img src=\"https://static.tigerbbs.com/8c01389388c3306ea6e9b152ac7e7f05\" tg-width=\"700\" tg-height=\"465\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>3. GameStop</h3>\n<p>As the original meme stock investment, <b>GameStop</b> (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.</p>\n<p>If theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.</p>\n<p>Which is exactly why the new management team, almost wholly brought over from <b>Amazon</b> and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"</p>\n<p>It's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.</p>\n<p>Since gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.</p>\n<p>There's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.</p>\n<p>Instead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.</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>Forget AMC: These 3 Meme Stocks Actually Have a Future</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\">\nForget AMC: These 3 Meme Stocks Actually Have a Future\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 23:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRSR":"Corsair Gaming, Inc.","FUTR.UK":"FUTURE","BBBY":"3B家居","GME":"游戏驿站"},"source_url":"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145052095","content_text":"Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the S&P 500 is around 10% annually.\nWhile traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.\nNo stock represents that phenomenon better than AMC Entertainment Holdings (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.\n\nImage source: Getty Images.\nBringing down the curtain on AMC\nBeyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.\nThe problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.\nTheater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.\nTheaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.\nThat may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.\nAMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.\nWhile it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.\nAMC Entertainment is not a place for long-term investors to park their money.\nForget AMC and consider these meme stocks instead\nMovie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.\n\nImage source: Getty Images.\n1. Bed Bath & Beyond\nI had pretty much written off home furnishings retailer Bed Bath & Beyond (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.\nYet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath & Beyond had amassed.\nThe pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath & Beyond has the chance to shine.\nOne of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath & Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.\nIt has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.\n\nImage source: Getty Images.\n2. Corsair Gaming\nCorsair Gaming (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.\nUnlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.\nThe company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as one to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.\nCorsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.\nThe company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on Alphabet's YouTube. There are also millions of active streamers across Twitch and Facebook Gaming, as well as on platforms of Chinese gaming sites Huya and DouYu, to drive sales of gaming and content-creation gear.\nThere's a substantial growth trajectory still ahead for Corsair Gaming, one that shouldn't be obscured by having become a meme stock favorite.\n\nImage source: Getty Images.\n3. GameStop\nAs the original meme stock investment, GameStop (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.\nIf theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.\nWhich is exactly why the new management team, almost wholly brought over from Amazon and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"\nIt's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.\nSince gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.\nThere's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.\nInstead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123039618,"gmtCreate":1624402908034,"gmtModify":1703835406302,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123039618","repostId":"1190428306","repostType":4,"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123097326,"gmtCreate":1624402805965,"gmtModify":1703835402895,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123097326","repostId":"1118580429","repostType":4,"repost":{"id":"1118580429","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":1624376537,"share":"https://ttm.financial/m/news/1118580429?lang=&edition=fundamental","pubTime":"2021-06-22 23:42","market":"us","language":"en","title":"Krispy Kreme eyes near $4 bln valuation in U.S. IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1118580429","media":"Reuters","summary":"June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. init","content":"<p>June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. initial public offering, according to a regulatory filing on Tuesday, valuing the donut chain at nearly $4 billion. (Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)</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>Krispy Kreme eyes near $4 bln valuation in U.S. IPO</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\">\nKrispy Kreme eyes near $4 bln valuation in U.S. IPO\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\">2021-06-22 23:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. initial public offering, according to a regulatory filing on Tuesday, valuing the donut chain at nearly $4 billion. (Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DNUT":"Krispy Kreme, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118580429","content_text":"June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. initial public offering, according to a regulatory filing on Tuesday, valuing the donut chain at nearly $4 billion. (Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)","news_type":1},"isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120186550,"gmtCreate":1624315203270,"gmtModify":1703833039323,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120186550","repostId":"1146982088","repostType":4,"repost":{"id":"1146982088","pubTimestamp":1624259620,"share":"https://ttm.financial/m/news/1146982088?lang=&edition=fundamental","pubTime":"2021-06-21 15:13","market":"us","language":"en","title":"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis","url":"https://stock-news.laohu8.com/highlight/detail?id=1146982088","media":"zerohedge","summary":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect","content":"<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p>\n<p><img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP&nbsp; facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p>\n<p>But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p>\n<p><img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p>\n<blockquote>\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n</blockquote>\n<p>Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p>\n<p>In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p>\n<p><img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p>\n<p>What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p>\n<p>In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p>\n<p>He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p>\n<p>Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p>\n<p><img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p>\n<p>This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p>\n<p>And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p>\n<p>Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p>\n<p>Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p>\n<p>Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p>\n<p>Translation:&nbsp;<b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis</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; 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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\">\nPowell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 15:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the...</p>\n\n<a href=\"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146982088","content_text":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.\nWhat does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP  facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.\nBut what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.\nThe problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:\n\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n\nBottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"\nIn retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.\nNeedless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"the re-priced RRP facility will become a problem for the banking system fast:the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market).\"\nWhat he means by that is that whereas previously the RRP rate of 0.00% did notrewardallocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.\nIn other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fedalsomade a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"\nHe's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),5bps is too generous, according to Pozsar who warns that the new reverse repo ratewill upset the state of \"singularity\"and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"\nIndeed, as shown below, bills yield less than 5 bps out to 6 months,and money funds have over $2 trillion of bills.They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.\nTo help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves withtoo fewintraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.\nThis process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.\nAnd here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,some bond-heavy banks cannot.As a result, Zoltan predicts that next \"we will notice that some banks (those who cannothandle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"\nBottom line:whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.\nOr, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.\nBottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"\nTranslation: by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.","news_type":1},"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120188154,"gmtCreate":1624315117078,"gmtModify":1703833037355,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120188154","repostId":"2145084835","repostType":4,"repost":{"id":"2145084835","pubTimestamp":1624280460,"share":"https://ttm.financial/m/news/2145084835?lang=&edition=fundamental","pubTime":"2021-06-21 21:01","market":"us","language":"en","title":"5 Ultra-Popular Stocks Wall Street Views as Overvalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2145084835","media":"Motley Fool","summary":"If analysts are correct, these high-flying stocks will fizzle out over the next year.","content":"<p>Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the average annual total return for the benchmark <b>S&amp;P 500</b> since 1980, including dividends, is north of 11%.</p>\n<p>Not surprisingly, we see this optimism readily apparent in Wall Street's ratings on stocks. According to <b>FactSet</b>, more than half of all stocks carry a consensus buy rating, 38% have the equivalent of a hold rating, and just 7% are rated as sells. Yet, history shows that far more than 7% of stocks will eventually head lower.</p>\n<p>Based on Wall Street's consensus price targets, the following five ultra-popular stocks are all expected to lose value over the coming 12 months.</p>\n<p><img src=\"https://static.tigerbbs.com/b04ade705354c4825038c4dfcd0187d9\" tg-width=\"700\" tg-height=\"500\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Palantir Technologies: Implied downside of 12%</h3>\n<p>Since its direct listing in late September 2020, data-mining company <b>Palantir Technologies</b> (NYSE:PLTR) has been a favorite among growth and retail investors. But if Wall Street's <a href=\"https://laohu8.com/S/AONE\">one</a>-year consensus price target proves accurate, Palantir will head in reverse by up to 12%.</p>\n<p>The likeliest reason Wall Street is tempering expectations on Palantir is valuation. Specifically, Palantir ended June 17 with a market cap of nearly $48 billion, but is on track to bring in perhaps $1.5 billion in full-year sales in 2021. That's a multiple of about 32 times sales. Even if Palantir continues to grow its top-line at 30% annually, it could take years for this price-to-sales multiple to come down to anywhere close to the average for cloud stocks.</p>\n<p>Another possible concern is the growth potential for its government-focused Gotham platform. Big government contract wins in the U.S. have been primarily responsible for Palantir's exceptional growth rate. However, there remains an outside chance that President Joe Biden may curb funding to some of the federal agencies that employ Palantir's services.</p>\n<p>Over the long run, I'm optimistic and believe Palantir's platform is unlike anything else available. But tempering near-term expectations given its valuation premium may be warranted.</p>\n<p><img src=\"https://static.tigerbbs.com/a38605bee8e62f3e8aa414fa24278e7e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Moderna: Implied downside of 11%</h3>\n<p>Biotech stock <b>Moderna</b> (NASDAQ:MRNA) is arguably the biggest beneficiary of the coronavirus disease 2019 (COVID-19) pandemic. It's <a href=\"https://laohu8.com/S/AONE.U\">one</a> of only three drugmakers to currently have their COVID-19 vaccine approved on an emergency-use authorization (EUA) basis in the United States. But if Wall Street's consensus 12-month price target is correct, it's stock is also on its way to a double-digit decline.</p>\n<p>Why the lack of love from Wall Street? The answer looks to be analysts looking to the future. While Moderna's COVID-19 vaccine is a mainstay in the U.S., and it's likely to play a clear role in other markets, time might prove the company's enemy. Over time, new vaccines are expected to come onto the scene, which'll eat away at Moderna's potential pool of patients.</p>\n<p>The other worry is that no one is exactly certain how long COVID-19 vaccine immunity will last. If it's a year, Moderna is unlikely to be the only drugmaker supplying booster shots. Meanwhile, if it's longer than a year, it means reduced sales opportunities for the company.</p>\n<p>Based solely on Wall Street's earnings per share consensus in 2021 and 2022, Moderna appears reasonably priced. But with the company staring down a potentially significant haircut in revenue next year as new drugmakers enter the space, caution is advised.</p>\n<p><img src=\"https://static.tigerbbs.com/07841e6a8173146a0fbfddf95a0f1ccb\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>GameStop: Implied downside of 71%</h3>\n<p>This will probably come as a shock to no one, but Reddit favorite <b>GameStop</b> (NYSE:GME) is fully expected to fall flat on its face. Even though Wall Street's consensus price target for the company has quintupled in recent months, it <i>still</i> implies up to 71% downside over the next year.</p>\n<p>The biggest issue for GameStop is that its valuation has completely detached from its underlying fundamentals. While it's not uncommon for stocks to trade on emotion for short periods of time, operating performance is what always dictates the long-term movement in the share price of a stock. When it comes to operating performance, GameStop has been a dud.</p>\n<p>Although the company's first-quarter fiscal results highlighted a 25% net sales increase from the prior-year period, total sales for the company have been falling precipitously for years. That's because video game retailer GameStop recognized the shift to digital gaming too late, and it's now stuck with its massive portfolio of brick-and-mortar gaming stores. Even though e-commerce sales have been a bright spot for the company, slashing costs and closing stores remains its No. 1 priority.</p>\n<p>With sufficient cash, bankruptcy isn't a concern for GameStop. But without any true top-line growth and the company still losing money, it's an impossible sell at its current price tag.</p>\n<p><img src=\"https://static.tigerbbs.com/c7ff785aa0040a5565d474390f58b47a\" tg-width=\"700\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Ocugen: Implied downside of 18%</h3>\n<p>Volatile clinical-stage biotech stock <b>Ocugen</b> (NASDAQ:OCGN) may also be in for an unpleasant next 12 months. The company behind an experimental COVID-19 vaccine (Covaxin) and a trio of internally developed eye-blindness candidates is expected to shed 18% of its value, if Wall Street's consensus price target is correct.</p>\n<p>Arguably the biggest issue for Ocugen is the clinical update the company issued on June 10 concerning Covaxin. Even though partner Bharat Biotech led a large clinical study in India that yielded an overall efficacy of 78%, along with 100% efficacy in preventing severe forms of COVID-19, Ocugen announced on June 10 that it would forgo seeking an EUA in the U.S. and would instead file for a biologics license application. In other words, Ocugen's path to a quick emergency approval in the U.S. just flew out the window.</p>\n<p>What's more, the U.S. Food and Drug Administration's requested additional information and data on Covaxin. This is a fancy of saying that Ocugen will very likely have to run a clinical study in the U.S. prior to submitting Covaxin for approval. That means added costs and an even longer wait before Ocugen has a chance to penetrate the lucrative U.S. market.</p>\n<p>Though it's impossible to predict how long COVID-19 vaccine immunity will last, Ocugen's chances of being a significant player in the U.S. COVID-19 vaccine space are dwindling.</p>\n<p><img src=\"https://static.tigerbbs.com/91f6037829ea3fb0ae1cae0b95d8d11e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>NVIDIA: Implied downside of 3%</h3>\n<p>Don't adjust your computer, laptop, or smartphone screens -- that really says <b>NVIDIA</b> (NASDAQ:NVDA). Following its incredible run higher (NVIDIA has doubled over the past year), graphics processing unit giant NVIDIA closed 3% above Wall Street's consensus price target, as of June 17.</p>\n<p>One reason for tempered expectations at this point has to be valuation. Even with NVIDIA crushing expectations and seeing strong PC gaming demand, sales growth is expected to slow from an estimated 49% in fiscal 2022 to a high single digit percentage in each of the next two fiscal years. In fact, the company closed at nearly 20 times projected sales for the current fiscal year. That's a bit optimistic given an expected sales growth slowdown.</p>\n<p>Perhaps the other reason Wall Street expects NVIDIA to go sideways is the company's cryptocurrency mining chip segment. While sales of crypto chips could hit $400 million in the current quarter, demand is entirely dependent on the hype surrounding digital currencies and the favorability of technical charts. Crypto is just as well known for its long bear markets as it is for the big gains it's delivered over the past decade. If another lull strikes, a fast-growing ancillary segment for NVIDA could easily become a drag.</p>\n<p>For what it's worth, I see no fundamental reasons to sell NVIDIA if you're already a long-term shareholder. But if you're on the outside looking in, I don't exactly see $746 as an attractive entry point, either.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Ultra-Popular Stocks Wall Street Views as Overvalued</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\">\n5 Ultra-Popular Stocks Wall Street Views as Overvalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 21:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc.","OCGN":"Ocugen","GME":"游戏驿站","NVDA":"英伟达","MRNA":"Moderna, Inc."},"source_url":"https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145084835","content_text":"Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the average annual total return for the benchmark S&P 500 since 1980, including dividends, is north of 11%.\nNot surprisingly, we see this optimism readily apparent in Wall Street's ratings on stocks. According to FactSet, more than half of all stocks carry a consensus buy rating, 38% have the equivalent of a hold rating, and just 7% are rated as sells. Yet, history shows that far more than 7% of stocks will eventually head lower.\nBased on Wall Street's consensus price targets, the following five ultra-popular stocks are all expected to lose value over the coming 12 months.\n\nImage source: Getty Images.\nPalantir Technologies: Implied downside of 12%\nSince its direct listing in late September 2020, data-mining company Palantir Technologies (NYSE:PLTR) has been a favorite among growth and retail investors. But if Wall Street's one-year consensus price target proves accurate, Palantir will head in reverse by up to 12%.\nThe likeliest reason Wall Street is tempering expectations on Palantir is valuation. Specifically, Palantir ended June 17 with a market cap of nearly $48 billion, but is on track to bring in perhaps $1.5 billion in full-year sales in 2021. That's a multiple of about 32 times sales. Even if Palantir continues to grow its top-line at 30% annually, it could take years for this price-to-sales multiple to come down to anywhere close to the average for cloud stocks.\nAnother possible concern is the growth potential for its government-focused Gotham platform. Big government contract wins in the U.S. have been primarily responsible for Palantir's exceptional growth rate. However, there remains an outside chance that President Joe Biden may curb funding to some of the federal agencies that employ Palantir's services.\nOver the long run, I'm optimistic and believe Palantir's platform is unlike anything else available. But tempering near-term expectations given its valuation premium may be warranted.\n\nImage source: Getty Images.\nModerna: Implied downside of 11%\nBiotech stock Moderna (NASDAQ:MRNA) is arguably the biggest beneficiary of the coronavirus disease 2019 (COVID-19) pandemic. It's one of only three drugmakers to currently have their COVID-19 vaccine approved on an emergency-use authorization (EUA) basis in the United States. But if Wall Street's consensus 12-month price target is correct, it's stock is also on its way to a double-digit decline.\nWhy the lack of love from Wall Street? The answer looks to be analysts looking to the future. While Moderna's COVID-19 vaccine is a mainstay in the U.S., and it's likely to play a clear role in other markets, time might prove the company's enemy. Over time, new vaccines are expected to come onto the scene, which'll eat away at Moderna's potential pool of patients.\nThe other worry is that no one is exactly certain how long COVID-19 vaccine immunity will last. If it's a year, Moderna is unlikely to be the only drugmaker supplying booster shots. Meanwhile, if it's longer than a year, it means reduced sales opportunities for the company.\nBased solely on Wall Street's earnings per share consensus in 2021 and 2022, Moderna appears reasonably priced. But with the company staring down a potentially significant haircut in revenue next year as new drugmakers enter the space, caution is advised.\n\nImage source: Getty Images.\nGameStop: Implied downside of 71%\nThis will probably come as a shock to no one, but Reddit favorite GameStop (NYSE:GME) is fully expected to fall flat on its face. Even though Wall Street's consensus price target for the company has quintupled in recent months, it still implies up to 71% downside over the next year.\nThe biggest issue for GameStop is that its valuation has completely detached from its underlying fundamentals. While it's not uncommon for stocks to trade on emotion for short periods of time, operating performance is what always dictates the long-term movement in the share price of a stock. When it comes to operating performance, GameStop has been a dud.\nAlthough the company's first-quarter fiscal results highlighted a 25% net sales increase from the prior-year period, total sales for the company have been falling precipitously for years. That's because video game retailer GameStop recognized the shift to digital gaming too late, and it's now stuck with its massive portfolio of brick-and-mortar gaming stores. Even though e-commerce sales have been a bright spot for the company, slashing costs and closing stores remains its No. 1 priority.\nWith sufficient cash, bankruptcy isn't a concern for GameStop. But without any true top-line growth and the company still losing money, it's an impossible sell at its current price tag.\n\nImage source: Getty Images.\nOcugen: Implied downside of 18%\nVolatile clinical-stage biotech stock Ocugen (NASDAQ:OCGN) may also be in for an unpleasant next 12 months. The company behind an experimental COVID-19 vaccine (Covaxin) and a trio of internally developed eye-blindness candidates is expected to shed 18% of its value, if Wall Street's consensus price target is correct.\nArguably the biggest issue for Ocugen is the clinical update the company issued on June 10 concerning Covaxin. Even though partner Bharat Biotech led a large clinical study in India that yielded an overall efficacy of 78%, along with 100% efficacy in preventing severe forms of COVID-19, Ocugen announced on June 10 that it would forgo seeking an EUA in the U.S. and would instead file for a biologics license application. In other words, Ocugen's path to a quick emergency approval in the U.S. just flew out the window.\nWhat's more, the U.S. Food and Drug Administration's requested additional information and data on Covaxin. This is a fancy of saying that Ocugen will very likely have to run a clinical study in the U.S. prior to submitting Covaxin for approval. That means added costs and an even longer wait before Ocugen has a chance to penetrate the lucrative U.S. market.\nThough it's impossible to predict how long COVID-19 vaccine immunity will last, Ocugen's chances of being a significant player in the U.S. COVID-19 vaccine space are dwindling.\n\nImage source: Getty Images.\nNVIDIA: Implied downside of 3%\nDon't adjust your computer, laptop, or smartphone screens -- that really says NVIDIA (NASDAQ:NVDA). Following its incredible run higher (NVIDIA has doubled over the past year), graphics processing unit giant NVIDIA closed 3% above Wall Street's consensus price target, as of June 17.\nOne reason for tempered expectations at this point has to be valuation. Even with NVIDIA crushing expectations and seeing strong PC gaming demand, sales growth is expected to slow from an estimated 49% in fiscal 2022 to a high single digit percentage in each of the next two fiscal years. In fact, the company closed at nearly 20 times projected sales for the current fiscal year. That's a bit optimistic given an expected sales growth slowdown.\nPerhaps the other reason Wall Street expects NVIDIA to go sideways is the company's cryptocurrency mining chip segment. While sales of crypto chips could hit $400 million in the current quarter, demand is entirely dependent on the hype surrounding digital currencies and the favorability of technical charts. Crypto is just as well known for its long bear markets as it is for the big gains it's delivered over the past decade. If another lull strikes, a fast-growing ancillary segment for NVIDA could easily become a drag.\nFor what it's worth, I see no fundamental reasons to sell NVIDIA if you're already a long-term shareholder. But if you're on the outside looking in, I don't exactly see $746 as an attractive entry point, either.","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":123097326,"gmtCreate":1624402805965,"gmtModify":1703835402895,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/123097326","repostId":"1118580429","repostType":4,"repost":{"id":"1118580429","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":1624376537,"share":"https://ttm.financial/m/news/1118580429?lang=&edition=fundamental","pubTime":"2021-06-22 23:42","market":"us","language":"en","title":"Krispy Kreme eyes near $4 bln valuation in U.S. IPO","url":"https://stock-news.laohu8.com/highlight/detail?id=1118580429","media":"Reuters","summary":"June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. init","content":"<p>June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. initial public offering, according to a regulatory filing on Tuesday, valuing the donut chain at nearly $4 billion. (Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)</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>Krispy Kreme eyes near $4 bln valuation in U.S. IPO</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\">\nKrispy Kreme eyes near $4 bln valuation in U.S. IPO\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\">2021-06-22 23:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. initial public offering, according to a regulatory filing on Tuesday, valuing the donut chain at nearly $4 billion. (Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DNUT":"Krispy Kreme, Inc."},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118580429","content_text":"June 22 (Reuters) - Krispy Kreme Inc is looking to raise as much as $640 million through a U.S. initial public offering, according to a regulatory filing on Tuesday, valuing the donut chain at nearly $4 billion. (Reporting by Sohini Podder in Bengaluru; Editing by Krishna Chandra Eluri)","news_type":1},"isVote":1,"tweetType":1,"viewCount":268,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123034836,"gmtCreate":1624403143825,"gmtModify":1703835414239,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nicr","listText":"Nicr","text":"Nicr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123034836","repostId":"2145052095","repostType":4,"repost":{"id":"2145052095","pubTimestamp":1624375500,"share":"https://ttm.financial/m/news/2145052095?lang=&edition=fundamental","pubTime":"2021-06-22 23:25","market":"us","language":"en","title":"Forget AMC: These 3 Meme Stocks Actually Have a Future","url":"https://stock-news.laohu8.com/highlight/detail?id=2145052095","media":"Motley Fool","summary":"Not all meme stocks are alike.","content":"<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the <b>S&amp;P 500</b> is around 10% annually.</p>\n<p>While traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.</p>\n<p>No stock represents that phenomenon better than <b>AMC Entertainment Holdings</b> (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.</p>\n<p><img src=\"https://static.tigerbbs.com/e52f3c866905316452fa461447bc7057\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Bringing down the curtain on AMC</h3>\n<p>Beyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.</p>\n<p>The problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.</p>\n<p>Theater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.</p>\n<p>Theaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.</p>\n<p>That may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.</p>\n<p>AMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.</p>\n<p>While it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.</p>\n<p>AMC Entertainment is not a place for long-term investors to park their money.</p>\n<h3>Forget AMC and consider these meme stocks instead</h3>\n<p>Movie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.</p>\n<p><img src=\"https://static.tigerbbs.com/a5c7d1564239ae8b7f0599f43d88f184\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>1. Bed Bath &amp; Beyond</h3>\n<p>I had pretty much written off home furnishings retailer <b>Bed Bath &amp; Beyond</b> (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.</p>\n<p>Yet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath &amp; Beyond had amassed.</p>\n<p>The pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath &amp; Beyond has the chance to shine.</p>\n<p>One of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath &amp; Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.</p>\n<p>It has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.</p>\n<p><img src=\"https://static.tigerbbs.com/2b9b0706e36e2038b277532e6820963d\" tg-width=\"700\" tg-height=\"482\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>2. Corsair Gaming</h3>\n<p><b>Corsair Gaming</b> (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.</p>\n<p>Unlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.</p>\n<p>The company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as <a href=\"https://laohu8.com/S/AONE\">one</a> to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.</p>\n<p>Corsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.</p>\n<p>The company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on <b>Alphabet</b>'s YouTube. There are also millions of active streamers across Twitch and <b><a href=\"https://laohu8.com/S/FB\">Facebook</a></b> Gaming, as well as on platforms of Chinese gaming sites <b>Huya</b> and <b>DouYu</b>, to drive sales of gaming and content-creation gear.</p>\n<p>There's a substantial growth trajectory still ahead for Corsair Gaming, <a href=\"https://laohu8.com/S/AONE.U\">one</a> that shouldn't be obscured by having become a meme stock favorite.</p>\n<p><img src=\"https://static.tigerbbs.com/8c01389388c3306ea6e9b152ac7e7f05\" tg-width=\"700\" tg-height=\"465\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>3. GameStop</h3>\n<p>As the original meme stock investment, <b>GameStop</b> (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.</p>\n<p>If theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.</p>\n<p>Which is exactly why the new management team, almost wholly brought over from <b>Amazon</b> and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"</p>\n<p>It's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.</p>\n<p>Since gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.</p>\n<p>There's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.</p>\n<p>Instead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.</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>Forget AMC: These 3 Meme Stocks Actually Have a Future</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\">\nForget AMC: These 3 Meme Stocks Actually Have a Future\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 23:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a ...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CRSR":"Corsair Gaming, Inc.","FUTR.UK":"FUTURE","BBBY":"3B家居","GME":"游戏驿站"},"source_url":"https://www.fool.com/investing/2021/06/22/forget-amc-these-3-meme-stocks-actually-have-a-fut/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145052095","content_text":"Having a long-term outlook has always been an investor's greatest hidden asset. The stock market has been a massive wealth creator over the decades if you had the patience to just sit tight. It's a fairly incredible feat that whether you look back over the last 100 years or just the past few decades, the average total return of the S&P 500 is around 10% annually.\nWhile traders have always jumped in and out of stocks, trying to pick the right entry and exit points, this year in particular has seen a tremendous influx of investors looking to ride the meme stock trend.\nNo stock represents that phenomenon better than AMC Entertainment Holdings (NYSE:AMC), which is the best-performing stock in the market by far with gains of nearly 3,000% since the start of 2021.\n\nImage source: Getty Images.\nBringing down the curtain on AMC\nBeyond just beating back hedge funds attacking the theater operator with short sales, investors have piled into AMC Entertainment because a vaccinated population can go to the movies once more to see all the films that studios banked during the pandemic. The influx of moviegoers will lift both admission revenue and the highly profitable concession sales, with business getting back to pre-COVID-19 levels.\nThe problem is that AMC was a business in decline before the coronavirus outbreak. It's not just the theater operator's problem, it's an affliction the entire industry is suffering from.\nTheater ticket sales peaked at 1.57 billion in 2002 and have steadily fallen from there. In 2019, fewer than 1.23 billion tickets were sold.\nTheaters have masked the decline by charging more for a ticket, so despite falling sales, box office receipts have actually grown. The $9.1 billion generated 19 years ago became $11.2 billion just before the pandemic closed everything down.\nThat may seem beneficial, but continuously rising prices, particularly with the advent of streaming video, have cut into the need to go to the box office, and all the major studios have committed to supporting their streaming services even as they send films to theaters.\nAMC also had to take on significant amounts of debt to survive the COVID outbreak. It ended the most recent quarter with $5.4 billion in long-term debt; $1.6 billion in current liabilities; and $4.9 billion in operating-lease expenses, of which $800 million is due this year, followed by another $1 billion next year.\nWhile it raised over $1 billion this year, it posted a loss of $567 million and burned through $313 million in cash.\nAMC Entertainment is not a place for long-term investors to park their money.\nForget AMC and consider these meme stocks instead\nMovie theaters aren't going away, but there are better places for your money, even among other so-called meme stocks. That's because they have a stronger business or better growth prospects than AMC. The following three stocks could all give you the excitement of the meme stock craze while offering long-term potential, as long as you don't get caught up in the excitement and overpay.\n\nImage source: Getty Images.\n1. Bed Bath & Beyond\nI had pretty much written off home furnishings retailer Bed Bath & Beyond (NASDAQ:BBBY) when it was still in the clutches of an entrenched management team with a sclerotic board of directors that failed to challenge leadership to make the changes necessary in an altered retail environment.\nYet showing that hedge funds can be a force for good, activist investors cleaned house at the retailer, clearing out the C-suite and the board, and embarked on dismantling the sprawling collection of businesses that Bed Bath & Beyond had amassed.\nThe pandemic struck at the worst possible time, just as the home goods store was going to focus on its narrowed core businesses. But now, as the economy is reopening, Bed Bath & Beyond has the chance to shine.\nOne of the unique aspects of the retailer's business was its ability to generate inordinate amounts of cash. It used to regularly produce in excess of $1 billion of free cash flow (FCF), and just prior to the outbreak it was still generating $750 million worth. Then it was forced to close its stores, and the economy was upended. Yet even as it emerges from the wreckage, Bed Bath & Beyond reported it was already FCF positive, producing $62 million last quarter. Expect that to grow in the coming quarters.\nIt has invested heavily in its e-commerce platform and its supply chain, and the narrower focus should allow it to return to its pre-eminent position atop the home goods industry.\n\nImage source: Getty Images.\n2. Corsair Gaming\nCorsair Gaming (NASDAQ:CRSR) is something of a more-recent phenomenon, as it only just went public last September. But the esports and live-streaming trend has so much potential for growth that Corsair -- an equipment and accessories maker -- should see tremendous lift in the years ahead.\nUnlike many other meme stocks, it wasn't hurt by the pandemic, but rather helped as people were forced to stay home and turned to gaming for their entertainment. Corsair has been around for years and has developed a reputation as a quality manufacturer, so its products were in high demand. Last quarter, it reported record results with revenue soaring 71% over the year-ago period to $529 million, and earnings surging to $0.41 per share from just $0.01 a year ago.\nThe company is also new to the meme stock mania, only just joining the ranks as nearly 22% of its outstanding shares are sold short. The Reddit crowd obviously sees this stock as one to flip, and the price jumped 13% this week. But that's not the reason you want to buy it.\nCorsair makes high-end, high-performance headsets, keyboards, mice, controllers, and gear for live-streaming gamers and content creators. It also sells computer components including memory cards, cooling systems, and power supplies, and has two proprietary platforms, iCUE for gamers and the Elgato streaming suite for creators.\nThe company points out that data from gaming and esports market researcher Newzoo shows an estimated 825 million console gamers globally in 2020, and over 40 million active gaming channels on Alphabet's YouTube. There are also millions of active streamers across Twitch and Facebook Gaming, as well as on platforms of Chinese gaming sites Huya and DouYu, to drive sales of gaming and content-creation gear.\nThere's a substantial growth trajectory still ahead for Corsair Gaming, one that shouldn't be obscured by having become a meme stock favorite.\n\nImage source: Getty Images.\n3. GameStop\nAs the original meme stock investment, GameStop (NYSE:GME) might be a surprising choice, particularly in light of the stock trading north of $220 per share, a 1,050% gain year to date. But that's where having patience and waiting for the momentum crowd to move on can reward you. GameStop actually has a turnaround-investment quality that could allow handsome profits.\nIf theaters are on the decline, then video-game retail stores are sure to follow the same path as Blockbuster Video.\nWhich is exactly why the new management team, almost wholly brought over from Amazon and Google, seeks to remake the video game retailer into a consumer-focused, online-oriented gaming company. Chairman Ryan Cohen envisions turning it into the \"Amazon of gaming.\"\nIt's starting from a solid foundation, having used the meme stock trading frenzy that boosted its share price to raise new capital to completely pay off its debt. While that diluted existing shareholders, not something to be taken lightly, it did allow the company to replenish its coffers and position itself to implement its strategy.\nSince gaming is increasingly moving toward digital downloads and online play, it's essential GameStop move in that direction as well. Theaters can't really respond effectively to how viewers are watching movies today; GameStop has a chance to reinvent itself in a way few businesses can.\nThere's no doubt GameStop is the riskiest of these three because it's a bet on an essentially untried transition. But the pandemic did show people turning to GameStop's e-commerce platform in record numbers, which indicates its well-known brand could be a beacon for customers seeking gaming media, equipment, reviews, and more from the retailer.\nInstead of betting on AMC's declining business and industry, GameStop is a stock that could pay off handsomely if you wait for it to offer attractive valuations.","news_type":1},"isVote":1,"tweetType":1,"viewCount":398,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120186550,"gmtCreate":1624315203270,"gmtModify":1703833039323,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120186550","repostId":"1146982088","repostType":4,"repost":{"id":"1146982088","pubTimestamp":1624259620,"share":"https://ttm.financial/m/news/1146982088?lang=&edition=fundamental","pubTime":"2021-06-21 15:13","market":"us","language":"en","title":"Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis","url":"https://stock-news.laohu8.com/highlight/detail?id=1146982088","media":"zerohedge","summary":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpect","content":"<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.</p>\n<p><img src=\"https://static.tigerbbs.com/31e3c93e7ae558cd9f2fdb7e4a2769f1\" tg-width=\"500\" tg-height=\"377\">What does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP&nbsp; facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.</p>\n<p>But what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.</p>\n<p><img src=\"https://static.tigerbbs.com/e8b99df7af1731b4bdcbcf072dcf39ce\" tg-width=\"500\" tg-height=\"272\">The problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:</p>\n<blockquote>\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n</blockquote>\n<p>Bottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"<i>the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"</i></p>\n<p>In retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.</p>\n<p><img src=\"https://static.tigerbbs.com/0fba18d7808300abc3bdf4ffaa3d5fb6\" tg-width=\"500\" tg-height=\"273\">Needless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"<b>the re-priced RRP facility will become a problem for the banking system fast:</b><b><u>the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market</u></b><b>).\"</b></p>\n<p>What he means by that is that whereas previously the RRP rate of 0.00% did not<i>reward</i>allocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.</p>\n<p>In other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fed<i><b>also</b></i>made a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “<b>yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"</b></p>\n<p>He's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),<b>5bps is too generous</b>, according to Pozsar who warns that the new reverse repo rate<b>will upset the state of \"singularity\"</b>and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –<b>at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"</b></p>\n<p>Indeed, as shown below, bills yield less than 5 bps out to 6 months,<b>and money funds have over $2 trillion of bills.</b>They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.<b>So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.</b></p>\n<p><img src=\"https://static.tigerbbs.com/bf593f7b1d2d665f39384ed6a998d3bf\" tg-width=\"500\" tg-height=\"403\">To help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves with<i><b>too few</b></i>intraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.</p>\n<p>This process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.</p>\n<p>And here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,<b>some bond-heavy banks cannot.</b>As a result, Zoltan predicts that next \"we will notice that some banks (those who can<i><b>not</b></i>handle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"</p>\n<p>Bottom line:<i><b>whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.</b></i></p>\n<p>Or, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,<b>in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"</b>While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,<b>the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.</b></p>\n<p>Bottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"</p>\n<p>Translation:&nbsp;<b>by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.</b></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Powell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis</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\">\nPowell Just Launched $2 Trillion In \"Heat-Seeking Missiles\": Zoltan Explains How The Fed Started The Next Repo Crisis\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 15:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the...</p>\n\n<a href=\"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/powell-just-launched-2-trillion-heat-seeking-missiles-zoltan-explains-how-fed-started-next","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1146982088","content_text":"Last week, amid thefire and brimstone surroundingthe market's shocked response to the Fed's unexpected hawkish pivot, we noted that there were two tangible, if less noted changes: the Fed adjusted the two key \"administered\" rates, raising both the IOER and RRP rates by 5 basis points (as correctly predicted by Bank of America, JPMorgan, Wrightson, Deutsche Bank and Wells Fargo while Citi, Oxford Economics, Jefferies, Credit Suisse, Standard Chartered, BMO were wrong in predicting no rate change), in an effort to push the Effective Fed Funds rate higher and away from its imminent rendezvous with 0%.\nWhat does this mean? As Curvature Securities repo guru,Scott Skyrm wrote last week, \"clearly the Fed intends to move overnight rates above zero and drain the RRP  facility of cash.\" Unfortunately, the end result would be precisely the opposite of what the Fed had wanted to achieve.\nBut what does this really mean for overnight rates and RRP volume? As Skyrm further noted, the increase in the IOER should pull the daily fed funds rate 5 basis points higher and, in turn, put upward pressure on Repo GC. Combined with the 5 basis point increase in RRP, GC should move a solid 5 basis points higher, which it has.\nThe problem, as Skyrm warned, is that the Fed's technical adjustment would do nothing to ease the RRP volume:\n\n When market Repo rates were at 0% and the RRP rate was at zero, ~$500 billion went into the RRP. Well, if both market Repo rates and the RRP rate are 5 basis points higher, there's no reason to pull cash out of the RRP. For example, if GC rates moved to .05% and the RRP rate stayed at zero, investor preferences to invest at a higher rate would remove cash from the RRP.\n\nBottom line: with both market rates and RRP at .05%, there's really no economic incentive for cash investors to move cash to the Repo market. Or, as we summarized, \"the Fed's rate change may have zero impact on the Fed's reverse repo facility, or the record half a trillion in cash parked there.\"\nIn retrospect, boy was that an understatement, because just one day later the already record usage of the Fed's Reverse Repo facility spiked by a record 50%, exploding to a staggering $756 billion (it closed Friday at $747 billion) as the GSEs.\nNeedless to say, flooding the Fed's RRP facility and sterilizing reserves is hardly what the Fed had intended, and as Credit Suisse's own repo guru (and former NY Fed staffer) Zoltan Pozsar wrote in his post-mortem, \"the re-priced RRP facility will become a problem for the banking system fast:the banking system is going from being asset constrained (deposits flooding in, but nowhere to lend them but to the Fed), to being liability constrained (deposits slipping away and nowhere to replace them but in the money market).\"\nWhat he means by that is that whereas previously the RRP rate of 0.00% did notrewardallocation of inert, excess reserves but merely provided a place to park them, now that the Fed is providing a generous yield pick up compared to rates offered by trillions in Bills, we are about to see a sea-change in the overnight, money-market, as trillions in capital reallocate away from traditional investments and into the the Fed's RRP.\nIn other words, as Pozsar puts it, \"the RRP facility started to sterilize reserves... with more to come.\" And just as Deutsche Bank explained why the Fed's signaling was an r* policy error, to Pozsar, the Fedalsomade a policy error - only this time with its technical rates - by steriling reserves because \"it’s one thing to raise the rate on the RRP facility when an increase was not strictly speaking necessary, and it’s another to raise it “unduly” high – as one money fund manager put it, “yesterday we could not even get a basis points a year; to get endless paper at five basis points from the most trusted counterparty is a dream come true.\"\nHe's right: while 0bps may have been viewed by many as too low, it was hardly catastrophic for now (Credit Suisse was one of those predicting no administered rate hike),5bps is too generous, according to Pozsar who warns that the new reverse repo ratewill upset the state of \"singularity\"and \"like heat-seeking missiles, money market investors move hundreds of billions, making sharp, 90º turns hunting for even a basis point of yield at the zero bound –at 5 bps, money funds have an incentive to trade out of all their Treasury bills and park cash at the RRP facility.\"\nIndeed, as shown below, bills yield less than 5 bps out to 6 months,and money funds have over $2 trillion of bills.They got an the incentive to sell, while others have the incentive to buy: institutions whose deposits have been “tolerated” by banks until now earning zero interest have an incentive to harvest the 0-5 bps range the bill curve has to offer. Putting your cash at a basis point in bills is better than deposits at zero.So the sterilization of reserves begins, and so the o/n RRP facility turns from a largely passive tool that provided an interest rate floor to the deposits that large banks have been pushing away, into an active tool that \"sucks\" the deposits away that banks decided to retain.\nTo help readers visualize what is going on, the Credit Suisse strategist suggest the following \"extreme\" thought experiment: most of the “Covid-19” deposits currently with banks go into the bill market where rates are better. Money funds sell bills to institutional investors that currently keep their cash at banks, and money funds swap bills for o/n RRPs. Said (somewhat) simply, while previously the Fed provided banks with a convenient place to park reserves, it now will actively drain reserves to the point where we may end up with another 2019-style repo crisis, as most financial institutions suddenly find themsleves withtoo fewintraday reserves, forcing them to use the Fed's other funding facilities (such as FX swap lines) to remain consistently solvent.\nThis process is not overnight. It will take a few weeks to observe the fallout from the Fed's reserve sterilization.\nAnd here is why the problem is similar to the repo crisis of 2019: soon we will find that while cash-rich banks can handle the outflows,some bond-heavy banks cannot.As a result, Zoltan predicts that next \"we will notice that some banks (those who cannothandle outflows) are borrowing advances from FHLBs, and cash-rich banks stop lending in the FX swap market as the RRP facility pulled reserves away from them and the Fed has to re-start the FX swap lines to offset.\"\nBottom line:whereas previously we saw Libor-OIS collapse, this key funding spread will have to widen from here, unless the Fed lowers the o/n RRP rate again back to where it was before.\nOr, as Zoltan summarizes, \"It’s either quantities or prices\" - indeed,in 2019 the Fed chose prices over quantities, which backfired, and led to the repo crisis which ended the Fed's hiking cycle and started \"NOT QE.\"While the Fed redeemed itself in February, when it expanded the usage of the RRP without making it liability-constrained as it chose quantities over prices - which worked well - last Wednesday,the Fed turned “unlimited” quantities into “money for free” and started to sterilize reserves.\nBottom line: \"we are witnessing the dealer of last resort (DoLR) learning the art of dealing, making unforced errors – if the Fed sterilizes with an overpriced o/n RRP facility, it has to be ready to add liquidity via the swap lines…\"\nTranslation: by paying trillions in reserves 5bps, the Fed just planted the seeds of the next liquidity crisis.","news_type":1},"isVote":1,"tweetType":1,"viewCount":392,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":120188154,"gmtCreate":1624315117078,"gmtModify":1703833037355,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/120188154","repostId":"2145084835","repostType":4,"repost":{"id":"2145084835","pubTimestamp":1624280460,"share":"https://ttm.financial/m/news/2145084835?lang=&edition=fundamental","pubTime":"2021-06-21 21:01","market":"us","language":"en","title":"5 Ultra-Popular Stocks Wall Street Views as Overvalued","url":"https://stock-news.laohu8.com/highlight/detail?id=2145084835","media":"Motley Fool","summary":"If analysts are correct, these high-flying stocks will fizzle out over the next year.","content":"<p>Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the average annual total return for the benchmark <b>S&amp;P 500</b> since 1980, including dividends, is north of 11%.</p>\n<p>Not surprisingly, we see this optimism readily apparent in Wall Street's ratings on stocks. According to <b>FactSet</b>, more than half of all stocks carry a consensus buy rating, 38% have the equivalent of a hold rating, and just 7% are rated as sells. Yet, history shows that far more than 7% of stocks will eventually head lower.</p>\n<p>Based on Wall Street's consensus price targets, the following five ultra-popular stocks are all expected to lose value over the coming 12 months.</p>\n<p><img src=\"https://static.tigerbbs.com/b04ade705354c4825038c4dfcd0187d9\" tg-width=\"700\" tg-height=\"500\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Palantir Technologies: Implied downside of 12%</h3>\n<p>Since its direct listing in late September 2020, data-mining company <b>Palantir Technologies</b> (NYSE:PLTR) has been a favorite among growth and retail investors. But if Wall Street's <a href=\"https://laohu8.com/S/AONE\">one</a>-year consensus price target proves accurate, Palantir will head in reverse by up to 12%.</p>\n<p>The likeliest reason Wall Street is tempering expectations on Palantir is valuation. Specifically, Palantir ended June 17 with a market cap of nearly $48 billion, but is on track to bring in perhaps $1.5 billion in full-year sales in 2021. That's a multiple of about 32 times sales. Even if Palantir continues to grow its top-line at 30% annually, it could take years for this price-to-sales multiple to come down to anywhere close to the average for cloud stocks.</p>\n<p>Another possible concern is the growth potential for its government-focused Gotham platform. Big government contract wins in the U.S. have been primarily responsible for Palantir's exceptional growth rate. However, there remains an outside chance that President Joe Biden may curb funding to some of the federal agencies that employ Palantir's services.</p>\n<p>Over the long run, I'm optimistic and believe Palantir's platform is unlike anything else available. But tempering near-term expectations given its valuation premium may be warranted.</p>\n<p><img src=\"https://static.tigerbbs.com/a38605bee8e62f3e8aa414fa24278e7e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Moderna: Implied downside of 11%</h3>\n<p>Biotech stock <b>Moderna</b> (NASDAQ:MRNA) is arguably the biggest beneficiary of the coronavirus disease 2019 (COVID-19) pandemic. It's <a href=\"https://laohu8.com/S/AONE.U\">one</a> of only three drugmakers to currently have their COVID-19 vaccine approved on an emergency-use authorization (EUA) basis in the United States. But if Wall Street's consensus 12-month price target is correct, it's stock is also on its way to a double-digit decline.</p>\n<p>Why the lack of love from Wall Street? The answer looks to be analysts looking to the future. While Moderna's COVID-19 vaccine is a mainstay in the U.S., and it's likely to play a clear role in other markets, time might prove the company's enemy. Over time, new vaccines are expected to come onto the scene, which'll eat away at Moderna's potential pool of patients.</p>\n<p>The other worry is that no one is exactly certain how long COVID-19 vaccine immunity will last. If it's a year, Moderna is unlikely to be the only drugmaker supplying booster shots. Meanwhile, if it's longer than a year, it means reduced sales opportunities for the company.</p>\n<p>Based solely on Wall Street's earnings per share consensus in 2021 and 2022, Moderna appears reasonably priced. But with the company staring down a potentially significant haircut in revenue next year as new drugmakers enter the space, caution is advised.</p>\n<p><img src=\"https://static.tigerbbs.com/07841e6a8173146a0fbfddf95a0f1ccb\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>GameStop: Implied downside of 71%</h3>\n<p>This will probably come as a shock to no one, but Reddit favorite <b>GameStop</b> (NYSE:GME) is fully expected to fall flat on its face. Even though Wall Street's consensus price target for the company has quintupled in recent months, it <i>still</i> implies up to 71% downside over the next year.</p>\n<p>The biggest issue for GameStop is that its valuation has completely detached from its underlying fundamentals. While it's not uncommon for stocks to trade on emotion for short periods of time, operating performance is what always dictates the long-term movement in the share price of a stock. When it comes to operating performance, GameStop has been a dud.</p>\n<p>Although the company's first-quarter fiscal results highlighted a 25% net sales increase from the prior-year period, total sales for the company have been falling precipitously for years. That's because video game retailer GameStop recognized the shift to digital gaming too late, and it's now stuck with its massive portfolio of brick-and-mortar gaming stores. Even though e-commerce sales have been a bright spot for the company, slashing costs and closing stores remains its No. 1 priority.</p>\n<p>With sufficient cash, bankruptcy isn't a concern for GameStop. But without any true top-line growth and the company still losing money, it's an impossible sell at its current price tag.</p>\n<p><img src=\"https://static.tigerbbs.com/c7ff785aa0040a5565d474390f58b47a\" tg-width=\"700\" tg-height=\"457\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>Ocugen: Implied downside of 18%</h3>\n<p>Volatile clinical-stage biotech stock <b>Ocugen</b> (NASDAQ:OCGN) may also be in for an unpleasant next 12 months. The company behind an experimental COVID-19 vaccine (Covaxin) and a trio of internally developed eye-blindness candidates is expected to shed 18% of its value, if Wall Street's consensus price target is correct.</p>\n<p>Arguably the biggest issue for Ocugen is the clinical update the company issued on June 10 concerning Covaxin. Even though partner Bharat Biotech led a large clinical study in India that yielded an overall efficacy of 78%, along with 100% efficacy in preventing severe forms of COVID-19, Ocugen announced on June 10 that it would forgo seeking an EUA in the U.S. and would instead file for a biologics license application. In other words, Ocugen's path to a quick emergency approval in the U.S. just flew out the window.</p>\n<p>What's more, the U.S. Food and Drug Administration's requested additional information and data on Covaxin. This is a fancy of saying that Ocugen will very likely have to run a clinical study in the U.S. prior to submitting Covaxin for approval. That means added costs and an even longer wait before Ocugen has a chance to penetrate the lucrative U.S. market.</p>\n<p>Though it's impossible to predict how long COVID-19 vaccine immunity will last, Ocugen's chances of being a significant player in the U.S. COVID-19 vaccine space are dwindling.</p>\n<p><img src=\"https://static.tigerbbs.com/91f6037829ea3fb0ae1cae0b95d8d11e\" tg-width=\"700\" tg-height=\"466\" referrerpolicy=\"no-referrer\"></p>\n<p>Image source: Getty Images.</p>\n<h3>NVIDIA: Implied downside of 3%</h3>\n<p>Don't adjust your computer, laptop, or smartphone screens -- that really says <b>NVIDIA</b> (NASDAQ:NVDA). Following its incredible run higher (NVIDIA has doubled over the past year), graphics processing unit giant NVIDIA closed 3% above Wall Street's consensus price target, as of June 17.</p>\n<p>One reason for tempered expectations at this point has to be valuation. Even with NVIDIA crushing expectations and seeing strong PC gaming demand, sales growth is expected to slow from an estimated 49% in fiscal 2022 to a high single digit percentage in each of the next two fiscal years. In fact, the company closed at nearly 20 times projected sales for the current fiscal year. That's a bit optimistic given an expected sales growth slowdown.</p>\n<p>Perhaps the other reason Wall Street expects NVIDIA to go sideways is the company's cryptocurrency mining chip segment. While sales of crypto chips could hit $400 million in the current quarter, demand is entirely dependent on the hype surrounding digital currencies and the favorability of technical charts. Crypto is just as well known for its long bear markets as it is for the big gains it's delivered over the past decade. If another lull strikes, a fast-growing ancillary segment for NVIDA could easily become a drag.</p>\n<p>For what it's worth, I see no fundamental reasons to sell NVIDIA if you're already a long-term shareholder. But if you're on the outside looking in, I don't exactly see $746 as an attractive entry point, either.</p>","source":"fool_stock","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>5 Ultra-Popular Stocks Wall Street Views as Overvalued</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\">\n5 Ultra-Popular Stocks Wall Street Views as Overvalued\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-21 21:01 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the...</p>\n\n<a href=\"https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc.","OCGN":"Ocugen","GME":"游戏驿站","NVDA":"英伟达","MRNA":"Moderna, Inc."},"source_url":"https://www.fool.com/investing/2021/06/21/5-ultra-popular-stocks-wall-street-view-overvalued/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2145084835","content_text":"Generally speaking, it pays to be bullish on Wall Street. Despite navigating its way through Black Monday in 1987, the dot-com bubble, the Great Recession, and more recently the coronavirus crash, the average annual total return for the benchmark S&P 500 since 1980, including dividends, is north of 11%.\nNot surprisingly, we see this optimism readily apparent in Wall Street's ratings on stocks. According to FactSet, more than half of all stocks carry a consensus buy rating, 38% have the equivalent of a hold rating, and just 7% are rated as sells. Yet, history shows that far more than 7% of stocks will eventually head lower.\nBased on Wall Street's consensus price targets, the following five ultra-popular stocks are all expected to lose value over the coming 12 months.\n\nImage source: Getty Images.\nPalantir Technologies: Implied downside of 12%\nSince its direct listing in late September 2020, data-mining company Palantir Technologies (NYSE:PLTR) has been a favorite among growth and retail investors. But if Wall Street's one-year consensus price target proves accurate, Palantir will head in reverse by up to 12%.\nThe likeliest reason Wall Street is tempering expectations on Palantir is valuation. Specifically, Palantir ended June 17 with a market cap of nearly $48 billion, but is on track to bring in perhaps $1.5 billion in full-year sales in 2021. That's a multiple of about 32 times sales. Even if Palantir continues to grow its top-line at 30% annually, it could take years for this price-to-sales multiple to come down to anywhere close to the average for cloud stocks.\nAnother possible concern is the growth potential for its government-focused Gotham platform. Big government contract wins in the U.S. have been primarily responsible for Palantir's exceptional growth rate. However, there remains an outside chance that President Joe Biden may curb funding to some of the federal agencies that employ Palantir's services.\nOver the long run, I'm optimistic and believe Palantir's platform is unlike anything else available. But tempering near-term expectations given its valuation premium may be warranted.\n\nImage source: Getty Images.\nModerna: Implied downside of 11%\nBiotech stock Moderna (NASDAQ:MRNA) is arguably the biggest beneficiary of the coronavirus disease 2019 (COVID-19) pandemic. It's one of only three drugmakers to currently have their COVID-19 vaccine approved on an emergency-use authorization (EUA) basis in the United States. But if Wall Street's consensus 12-month price target is correct, it's stock is also on its way to a double-digit decline.\nWhy the lack of love from Wall Street? The answer looks to be analysts looking to the future. While Moderna's COVID-19 vaccine is a mainstay in the U.S., and it's likely to play a clear role in other markets, time might prove the company's enemy. Over time, new vaccines are expected to come onto the scene, which'll eat away at Moderna's potential pool of patients.\nThe other worry is that no one is exactly certain how long COVID-19 vaccine immunity will last. If it's a year, Moderna is unlikely to be the only drugmaker supplying booster shots. Meanwhile, if it's longer than a year, it means reduced sales opportunities for the company.\nBased solely on Wall Street's earnings per share consensus in 2021 and 2022, Moderna appears reasonably priced. But with the company staring down a potentially significant haircut in revenue next year as new drugmakers enter the space, caution is advised.\n\nImage source: Getty Images.\nGameStop: Implied downside of 71%\nThis will probably come as a shock to no one, but Reddit favorite GameStop (NYSE:GME) is fully expected to fall flat on its face. Even though Wall Street's consensus price target for the company has quintupled in recent months, it still implies up to 71% downside over the next year.\nThe biggest issue for GameStop is that its valuation has completely detached from its underlying fundamentals. While it's not uncommon for stocks to trade on emotion for short periods of time, operating performance is what always dictates the long-term movement in the share price of a stock. When it comes to operating performance, GameStop has been a dud.\nAlthough the company's first-quarter fiscal results highlighted a 25% net sales increase from the prior-year period, total sales for the company have been falling precipitously for years. That's because video game retailer GameStop recognized the shift to digital gaming too late, and it's now stuck with its massive portfolio of brick-and-mortar gaming stores. Even though e-commerce sales have been a bright spot for the company, slashing costs and closing stores remains its No. 1 priority.\nWith sufficient cash, bankruptcy isn't a concern for GameStop. But without any true top-line growth and the company still losing money, it's an impossible sell at its current price tag.\n\nImage source: Getty Images.\nOcugen: Implied downside of 18%\nVolatile clinical-stage biotech stock Ocugen (NASDAQ:OCGN) may also be in for an unpleasant next 12 months. The company behind an experimental COVID-19 vaccine (Covaxin) and a trio of internally developed eye-blindness candidates is expected to shed 18% of its value, if Wall Street's consensus price target is correct.\nArguably the biggest issue for Ocugen is the clinical update the company issued on June 10 concerning Covaxin. Even though partner Bharat Biotech led a large clinical study in India that yielded an overall efficacy of 78%, along with 100% efficacy in preventing severe forms of COVID-19, Ocugen announced on June 10 that it would forgo seeking an EUA in the U.S. and would instead file for a biologics license application. In other words, Ocugen's path to a quick emergency approval in the U.S. just flew out the window.\nWhat's more, the U.S. Food and Drug Administration's requested additional information and data on Covaxin. This is a fancy of saying that Ocugen will very likely have to run a clinical study in the U.S. prior to submitting Covaxin for approval. That means added costs and an even longer wait before Ocugen has a chance to penetrate the lucrative U.S. market.\nThough it's impossible to predict how long COVID-19 vaccine immunity will last, Ocugen's chances of being a significant player in the U.S. COVID-19 vaccine space are dwindling.\n\nImage source: Getty Images.\nNVIDIA: Implied downside of 3%\nDon't adjust your computer, laptop, or smartphone screens -- that really says NVIDIA (NASDAQ:NVDA). Following its incredible run higher (NVIDIA has doubled over the past year), graphics processing unit giant NVIDIA closed 3% above Wall Street's consensus price target, as of June 17.\nOne reason for tempered expectations at this point has to be valuation. Even with NVIDIA crushing expectations and seeing strong PC gaming demand, sales growth is expected to slow from an estimated 49% in fiscal 2022 to a high single digit percentage in each of the next two fiscal years. In fact, the company closed at nearly 20 times projected sales for the current fiscal year. That's a bit optimistic given an expected sales growth slowdown.\nPerhaps the other reason Wall Street expects NVIDIA to go sideways is the company's cryptocurrency mining chip segment. While sales of crypto chips could hit $400 million in the current quarter, demand is entirely dependent on the hype surrounding digital currencies and the favorability of technical charts. Crypto is just as well known for its long bear markets as it is for the big gains it's delivered over the past decade. If another lull strikes, a fast-growing ancillary segment for NVIDA could easily become a drag.\nFor what it's worth, I see no fundamental reasons to sell NVIDIA if you're already a long-term shareholder. But if you're on the outside looking in, I don't exactly see $746 as an attractive entry point, either.","news_type":1},"isVote":1,"tweetType":1,"viewCount":264,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128065342,"gmtCreate":1624495707986,"gmtModify":1703838278486,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128065342","repostId":"2145016997","repostType":4,"repost":{"id":"2145016997","pubTimestamp":1624494962,"share":"https://ttm.financial/m/news/2145016997?lang=&edition=fundamental","pubTime":"2021-06-24 08:36","market":"us","language":"en","title":"John McAfee, Antivirus Software Pioneer, Found Dead in Prison","url":"https://stock-news.laohu8.com/highlight/detail?id=2145016997","media":"Bloomberg","summary":"(Bloomberg) -- John McAfee, the creator of the eponymous antivirus software, was found dead Wednesda","content":"<p>(Bloomberg) -- John McAfee, the creator of the eponymous antivirus software, was found dead Wednesday in prison outside Barcelona, according to the Associated Press. He was 75.</p>\n<p>In recent years, McAfee became a prominent booster of cryptocurrencies, ran unsuccessfully for U.S. president, had numerous run-ins with the law and traded in extreme conspiracy theories.</p>\n<p>McAfee was discovered dead in his prison cell hours after Spain’s National Court approved his extradition to the U.S. over multiple tax fraud charges. Security personnel at the Brians 2 prison in northeast Spain tried but failed to revive him, the Associated Press reported, citing a statement from the region’s government.</p>\n<p>McAfee had been in Spanish custody since October on a June 2020 U.S. indictment in which he was charged with failing to file four years of tax returns while concealing assets. Then in March, he was indicted and accused of fraud and money laundering over his use of social media to promote cryptocurrencies, which prosecutors said generated $13 million in illicit gains for McAfee and a co-conspirator.</p>\n<p>The Justice Department declined to comment and a spokeswoman referred questions to Spanish authorities.</p>\n<p>Before his legal turmoil, McAfee was a pioneer of the cybersecurity industry. He founded <a href=\"https://laohu8.com/S/MCFE\">McAfee Corp.</a> in 1987 in Santa Clara, California, and led the company as it dominated the market for antivirus protection of personal computers. Half of all Fortune 100 companies were using his software during that time. McAfee resigned in 1994. Decades later he told the South China Morning Post that running the company no longer was fun as it grew to a huge corporation with thousands of employees.</p>\n<p>Intel Corp. bought the company in 2010 and later rebranded all McAfee products as Intel Security. After his name was removed, McAfee told the BBC, “I am now everlastingly grateful to Intel for freeing me from this terrible association with the worst software on the planet.”</p>\n<p>McAfee relocated to Belize in 2008 after his $100 million fortune was reduced to $4 million following a series of failed investments in property, real estate and bonds. There he had <a href=\"https://laohu8.com/S/AONE\">one</a> of his biggest conflicts with authorities in 2012 after the killing of a neighbor, Gregory Faull, a 52-year-old contractor and Florida native. McAfee’s home on the island of Ambergris Caye was searched after Faull was shot to death and police said they wanted to question him as part of a murder investigation.</p>\n<p>He then sought asylum in Guatemala in 2012, claiming he wasn’t on the run from authorities in Belize. He turned to social media and public interviews to salvage his reputation, sending updates to Wired magazine, allowing two reporters from Vice magazine to accompany him and posting missives to his own website. He discussed eluding police by burying himself in sand with a cardboard box and changing his appearance.</p>\n<p>McAfee was expelled from Guatemala and arrived in Miami in December 2012. In an interview with Bloomberg News the day of his departure, McAfee, then 67, said he was being forced out of Belize, but was “perfectly happy with the decision.” He apologized to Guatemala’s then-president for putting him in “a slippery position.” He was later ordered by a Florida judge to pay more than $25 million to Faull’s estate.</p>\n<p>In 2016, McAfee announced a run as a presidential candidate for the Libertarian Party, campaigning on a privacy-focused platform that included pushing for the government to create a cybersecurity defense strategy. The party’s nomination was won by former New Mexico Governor Gary Johnson.</p>\n<p>By 2017, McAfee jumped on the Bitcoin bandwagon as chief executive officer of <a href=\"https://laohu8.com/S/MGT\">MGT Capital Investments</a> Inc. He’d promised to turn the former video game operation into a profitable cybersecurity firm by ramping up its Bitcoin mining business. He stepped down later that year to become the CEO of a cryptocurrency company, Luxcore.</p>\n<p>Part of his cryptocurrency venture included charging more than $105,000 per tweet to promote initial coin offerings. McAfee later told his <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> followers he’d been forced to “go dark” on social media after receiving unspecified “threats” from the U.S. Securities and Exchange Commission.</p>\n<p>During the period from 2014 to 2018 McAfee failed to file U.S. tax returns, according to a federal indictment. After eluding law enforcement, he was arrested and detained last October in Spain. From prison, McAfee was able to use Twitter to continue promoting cryptocurrencies, but also to share his experience. In April, he tweeted: “this has been the most trying period in my life.” At that point, he had been in the Catalonian prison for six months.</p>\n<p>In November 2019, McAfee took to Twitter to show off his latest tattoo on his right bicep. It read, ‘$WHACKD.’ In a related tweet, he wrote: “Getting subtle messages from U.S. officials saying, in effect: “We’re coming for you McAfee! We’re going to kill yourself”. I got a tattoo today just in case. If I suicide myself, I didn’t. I was whackd. Check my right arm.”</p>\n<p>“Sometimes genius and madness aren’t far apart and it seems he unfortunately fell prey to his demons,” said Doug Clinton, managing partner at Loup Ventures.</p>","source":"yahoofinance","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>John McAfee, Antivirus Software Pioneer, Found Dead in Prison</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\">\nJohn McAfee, Antivirus Software Pioneer, Found Dead in Prison\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 08:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/john-mcafee-antivirus-software-pioneer-223602017.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- John McAfee, the creator of the eponymous antivirus software, was found dead Wednesday in prison outside Barcelona, according to the Associated Press. He was 75.\nIn recent years, McAfee...</p>\n\n<a href=\"https://finance.yahoo.com/news/john-mcafee-antivirus-software-pioneer-223602017.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TWTR":"Twitter","MCFE":"McAfee Corp."},"source_url":"https://finance.yahoo.com/news/john-mcafee-antivirus-software-pioneer-223602017.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2145016997","content_text":"(Bloomberg) -- John McAfee, the creator of the eponymous antivirus software, was found dead Wednesday in prison outside Barcelona, according to the Associated Press. He was 75.\nIn recent years, McAfee became a prominent booster of cryptocurrencies, ran unsuccessfully for U.S. president, had numerous run-ins with the law and traded in extreme conspiracy theories.\nMcAfee was discovered dead in his prison cell hours after Spain’s National Court approved his extradition to the U.S. over multiple tax fraud charges. Security personnel at the Brians 2 prison in northeast Spain tried but failed to revive him, the Associated Press reported, citing a statement from the region’s government.\nMcAfee had been in Spanish custody since October on a June 2020 U.S. indictment in which he was charged with failing to file four years of tax returns while concealing assets. Then in March, he was indicted and accused of fraud and money laundering over his use of social media to promote cryptocurrencies, which prosecutors said generated $13 million in illicit gains for McAfee and a co-conspirator.\nThe Justice Department declined to comment and a spokeswoman referred questions to Spanish authorities.\nBefore his legal turmoil, McAfee was a pioneer of the cybersecurity industry. He founded McAfee Corp. in 1987 in Santa Clara, California, and led the company as it dominated the market for antivirus protection of personal computers. Half of all Fortune 100 companies were using his software during that time. McAfee resigned in 1994. Decades later he told the South China Morning Post that running the company no longer was fun as it grew to a huge corporation with thousands of employees.\nIntel Corp. bought the company in 2010 and later rebranded all McAfee products as Intel Security. After his name was removed, McAfee told the BBC, “I am now everlastingly grateful to Intel for freeing me from this terrible association with the worst software on the planet.”\nMcAfee relocated to Belize in 2008 after his $100 million fortune was reduced to $4 million following a series of failed investments in property, real estate and bonds. There he had one of his biggest conflicts with authorities in 2012 after the killing of a neighbor, Gregory Faull, a 52-year-old contractor and Florida native. McAfee’s home on the island of Ambergris Caye was searched after Faull was shot to death and police said they wanted to question him as part of a murder investigation.\nHe then sought asylum in Guatemala in 2012, claiming he wasn’t on the run from authorities in Belize. He turned to social media and public interviews to salvage his reputation, sending updates to Wired magazine, allowing two reporters from Vice magazine to accompany him and posting missives to his own website. He discussed eluding police by burying himself in sand with a cardboard box and changing his appearance.\nMcAfee was expelled from Guatemala and arrived in Miami in December 2012. In an interview with Bloomberg News the day of his departure, McAfee, then 67, said he was being forced out of Belize, but was “perfectly happy with the decision.” He apologized to Guatemala’s then-president for putting him in “a slippery position.” He was later ordered by a Florida judge to pay more than $25 million to Faull’s estate.\nIn 2016, McAfee announced a run as a presidential candidate for the Libertarian Party, campaigning on a privacy-focused platform that included pushing for the government to create a cybersecurity defense strategy. The party’s nomination was won by former New Mexico Governor Gary Johnson.\nBy 2017, McAfee jumped on the Bitcoin bandwagon as chief executive officer of MGT Capital Investments Inc. He’d promised to turn the former video game operation into a profitable cybersecurity firm by ramping up its Bitcoin mining business. He stepped down later that year to become the CEO of a cryptocurrency company, Luxcore.\nPart of his cryptocurrency venture included charging more than $105,000 per tweet to promote initial coin offerings. McAfee later told his Twitter followers he’d been forced to “go dark” on social media after receiving unspecified “threats” from the U.S. Securities and Exchange Commission.\nDuring the period from 2014 to 2018 McAfee failed to file U.S. tax returns, according to a federal indictment. After eluding law enforcement, he was arrested and detained last October in Spain. From prison, McAfee was able to use Twitter to continue promoting cryptocurrencies, but also to share his experience. In April, he tweeted: “this has been the most trying period in my life.” At that point, he had been in the Catalonian prison for six months.\nIn November 2019, McAfee took to Twitter to show off his latest tattoo on his right bicep. It read, ‘$WHACKD.’ In a related tweet, he wrote: “Getting subtle messages from U.S. officials saying, in effect: “We’re coming for you McAfee! We’re going to kill yourself”. I got a tattoo today just in case. If I suicide myself, I didn’t. I was whackd. Check my right arm.”\n“Sometimes genius and madness aren’t far apart and it seems he unfortunately fell prey to his demons,” said Doug Clinton, managing partner at Loup Ventures.","news_type":1},"isVote":1,"tweetType":1,"viewCount":228,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128066417,"gmtCreate":1624495676439,"gmtModify":1703838275735,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128066417","repostId":"2145513016","repostType":4,"isVote":1,"tweetType":1,"viewCount":369,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":123039618,"gmtCreate":1624402908034,"gmtModify":1703835406302,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/123039618","repostId":"1190428306","repostType":4,"repost":{"id":"1190428306","pubTimestamp":1624376180,"share":"https://ttm.financial/m/news/1190428306?lang=&edition=fundamental","pubTime":"2021-06-22 23:36","market":"us","language":"en","title":"MicroStrategy Leads Crypto Stock Slump as Bitcoin Rout Deepens","url":"https://stock-news.laohu8.com/highlight/detail?id=1190428306","media":"Bloomberg","summary":"Bitcoin sinks below $30,000 for the first time in five months.\nMicroStrategy falls as much as 12%, t","content":"<ul>\n <li>Bitcoin sinks below $30,000 for the first time in five months.</li>\n <li>MicroStrategy falls as much as 12%, the most since May.</li>\n</ul>\n<p>MicroStrategy Inc.sank, leading a slump in cryptocurrency-exposed stocks, as Bitcoin tumbled below the $30,000key levelfor the first time in five months.</p>\n<p>The enterprise software company fell as much as 12%, its steepest decline since May 19, leading a selloff in the shares of other crypto-linked firms as Bitcoinplunged, wiping out its entire gain for this year. The company’s shares are down more than 50% from since early February when it reached a 20-year high.</p>\n<p>MicroStrategy plummeted for a second session after revealing it bought $489 million of the virtual currency on Monday. The coin’s plunging value may trigger awritedownfor the tech company, which has become one of the strongest corporate advocates for Bitcoin.</p>\n<p>The company’s $500 million of junk-rated bonds issued earlier this monthdroppedto a new low of 97.75 cents on the dollar on Tuesday, according to Trace bond pricing data. Holders of those bonds have a claim on substantially all of the company’s business assets, in addition to the recently purchased Bitcoin.</p>\n<p>With Bitcoin dropping below $30,000 stocks with ties to the virtual currency industry were also getting pounded.</p>\n<p>Ebang International Holdings Inc. and Marathon Digital Holdings Inc. each fell about 11%. Other crypto-tied names like Galaxy Digital Holdings Ltd., DMG Blockchain Solutions Inc., Riot Blockchain Inc. and Diginex Ltd. also slumped. In Europe, Argo Blockchain Plc dropped 11%.</p>\n<p><img src=\"https://static.tigerbbs.com/be8d5a0859fc0983030b6509fd440adb\" tg-width=\"558\" tg-height=\"313\">Elon Musk’stweets about energy consumptionin crypto mining last week have also whipsawed the market and the cryptocurrency has slid for the past three days over regulatory worries and a China clampdown.</p>\n<p>“Not that long ago, China banned all cryptocurrency transactions, but now they’re cracking down and enforcing the crackdown. This a big deal,” Louis Navellier, a strategist for Navellier &amp; Associates wrote in a note to clients. “However, when one asset class suffers, money just goes elsewhere and obviously, the stock market’s doing very well right now.”</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>MicroStrategy Leads Crypto Stock Slump as Bitcoin Rout Deepens</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\">\nMicroStrategy Leads Crypto Stock Slump as Bitcoin Rout Deepens\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 23:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-22/microstrategy-leads-crypto-stock-slump-as-bitcoin-rout-deepens?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin sinks below $30,000 for the first time in five months.\nMicroStrategy falls as much as 12%, the most since May.\n\nMicroStrategy Inc.sank, leading a slump in cryptocurrency-exposed stocks, as ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-22/microstrategy-leads-crypto-stock-slump-as-bitcoin-rout-deepens?srnd=markets-vp\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"MSTR":"MicroStrategy"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-22/microstrategy-leads-crypto-stock-slump-as-bitcoin-rout-deepens?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190428306","content_text":"Bitcoin sinks below $30,000 for the first time in five months.\nMicroStrategy falls as much as 12%, the most since May.\n\nMicroStrategy Inc.sank, leading a slump in cryptocurrency-exposed stocks, as Bitcoin tumbled below the $30,000key levelfor the first time in five months.\nThe enterprise software company fell as much as 12%, its steepest decline since May 19, leading a selloff in the shares of other crypto-linked firms as Bitcoinplunged, wiping out its entire gain for this year. The company’s shares are down more than 50% from since early February when it reached a 20-year high.\nMicroStrategy plummeted for a second session after revealing it bought $489 million of the virtual currency on Monday. The coin’s plunging value may trigger awritedownfor the tech company, which has become one of the strongest corporate advocates for Bitcoin.\nThe company’s $500 million of junk-rated bonds issued earlier this monthdroppedto a new low of 97.75 cents on the dollar on Tuesday, according to Trace bond pricing data. Holders of those bonds have a claim on substantially all of the company’s business assets, in addition to the recently purchased Bitcoin.\nWith Bitcoin dropping below $30,000 stocks with ties to the virtual currency industry were also getting pounded.\nEbang International Holdings Inc. and Marathon Digital Holdings Inc. each fell about 11%. Other crypto-tied names like Galaxy Digital Holdings Ltd., DMG Blockchain Solutions Inc., Riot Blockchain Inc. and Diginex Ltd. also slumped. In Europe, Argo Blockchain Plc dropped 11%.\nElon Musk’stweets about energy consumptionin crypto mining last week have also whipsawed the market and the cryptocurrency has slid for the past three days over regulatory worries and a China clampdown.\n“Not that long ago, China banned all cryptocurrency transactions, but now they’re cracking down and enforcing the crackdown. This a big deal,” Louis Navellier, a strategist for Navellier & Associates wrote in a note to clients. “However, when one asset class suffers, money just goes elsewhere and obviously, the stock market’s doing very well right now.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":265,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":128028283,"gmtCreate":1624495856642,"gmtModify":1703838289179,"author":{"id":"3581629286413859","authorId":"3581629286413859","name":"xuja","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581629286413859","authorIdStr":"3581629286413859"},"themes":[],"htmlText":"Nicr","listText":"Nicr","text":"Nicr","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/128028283","repostId":"1142461694","repostType":4,"repost":{"id":"1142461694","pubTimestamp":1624494353,"share":"https://ttm.financial/m/news/1142461694?lang=&edition=fundamental","pubTime":"2021-06-24 08:25","market":"us","language":"en","title":"Founders of South African Bitcoin exchange disappear after $3.6 billion 'hack'","url":"https://stock-news.laohu8.com/highlight/detail?id=1142461694","media":"finance.yahoo","summary":"Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the ","content":"<p>Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According to<i>Bloomberg</i>, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the process of recovering their missing money.</p>\n<p>Some of those involved in the exchange hired Hanekom Attorneys, the law firm that said it couldn’t find the two brothers, to investigate the incident. It found that someone had withdrawn Africrypt’s pooled funds from the local accounts and client wallets where the coins were stored originally and put them throughtumblers and mixers, making it difficult (though not impossible) to trace the money. “Africrypt employees lost access to the back-end platforms seven days before the alleged hack,” the law firm told<i>Bloomberg</i>. The outlet attempted to call both Cajee brothers multiple times only to get their voicemail each time.</p>\n<p>Complicating any recovery attempt is that South Africa’s Finance Sector Conduct Authority can’t launch a formal investigation into the incident because cryptocurrency isn’t legally considered a financial product in the country. If no one can recover the money, it will go down as the largest cryptocurrency loss in history, easily overshadowing the approximately $200 million CAD that disappeared when the founder of Canada’sQuadrigaCXexchange died while travelling in India.</p>","source":"lsy1612507957220","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>Founders of South African Bitcoin exchange disappear after $3.6 billion 'hack'</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\">\nFounders of South African Bitcoin exchange disappear after $3.6 billion 'hack'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-24 08:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/africrypt-bitcoin-disappearance-174636634.html><strong>finance.yahoo</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges....</p>\n\n<a href=\"https://finance.yahoo.com/news/africrypt-bitcoin-disappearance-174636634.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GBTC":"Grayscale Bitcoin Trust"},"source_url":"https://finance.yahoo.com/news/africrypt-bitcoin-disappearance-174636634.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142461694","content_text":"Cryptocurrency investors in South Africa may have lost nearly $3.6 billion in Bitcoin following the disappearance of two brothers associated with one of the country’s largest cryptocurrency exchanges. According toBloomberg, a law firm in Cape Town says it can’t locate Ameer and Raees Cajee, the founders of Africrypt. In April, the exchange told its investors it was the victim of a hack and asked them not to report the incident to the authorities on account it would “slow down” the process of recovering their missing money.\nSome of those involved in the exchange hired Hanekom Attorneys, the law firm that said it couldn’t find the two brothers, to investigate the incident. It found that someone had withdrawn Africrypt’s pooled funds from the local accounts and client wallets where the coins were stored originally and put them throughtumblers and mixers, making it difficult (though not impossible) to trace the money. “Africrypt employees lost access to the back-end platforms seven days before the alleged hack,” the law firm toldBloomberg. The outlet attempted to call both Cajee brothers multiple times only to get their voicemail each time.\nComplicating any recovery attempt is that South Africa’s Finance Sector Conduct Authority can’t launch a formal investigation into the incident because cryptocurrency isn’t legally considered a financial product in the country. If no one can recover the money, it will go down as the largest cryptocurrency loss in history, easily overshadowing the approximately $200 million CAD that disappeared when the founder of Canada’sQuadrigaCXexchange died while travelling in India.","news_type":1},"isVote":1,"tweetType":1,"viewCount":450,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}