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2021-07-02

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HK stocks fall on China growth, policy tightening worries

2021-07-02

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Pop Culture Group stock surged 44% in premarket trading

2021-07-02

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A Wave of Earnings Restatements Slams a Hot Market

2021-07-02

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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":1625215473,"share":"https://ttm.financial/m/news/2148287197?lang=&edition=fundamental","pubTime":"2021-07-02 16:44","market":"hk","language":"en","title":"HK stocks fall on China growth, policy tightening worries","url":"https://stock-news.laohu8.com/highlight/detail?id=2148287197","media":"Reuters","summary":"July 2 (Reuters) - Hong Kong stocks fell the most in seven weeks on Friday as sentiment was weighed ","content":"<p>July 2 (Reuters) - Hong Kong stocks fell the most in seven weeks on Friday as sentiment was weighed down by fears of policy tightening by Beijing and slower economic growth in the mainland.</p>\n<p>The Hang Seng index fell 1.8% to 28,310.42, while the China Enterprises Index lost 2.3% to 10,415.58 points, amid broader weakness in Asia.</p>\n<p>\"Increased tightening fears out of China combined with greater uncertainly around the impact of the Delta variant may have steered confidence sharply lower amongst Asia investors,\" State Street Global Markets wrote.</p>\n<p>Investors are also worried about slower growth in China. <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> lowered its forecast for China's second-quarter economic growth due to broad-based macro weakness seen in April-June.</p>\n<p>Data released on Wednesday showed growth in China's June factory activity dipped to a four-month low, while China's non-manufacturing Purchasing Managers' Index <a href=\"https://laohu8.com/S/PMI.UK\">$(PMI.UK)$</a> also fell during the month.</p>\n<p>The Hang Seng Tech Index , which tracks some of China's biggest technology firms such as Tencent Holdings and JD.com, slumped 3.2%.</p>\n<p><a href=\"https://laohu8.com/S/EGRNF\">China Evergrande Group</a> remained weak, after the country's most indebted property developer said contracted property sales in June fell 5.8% from a year earlier.</p>\n<p>\"Onshore and offshore capital markets will remain volatile amid tight credit conditions for developers and weak investor sentiment,\" Celine Yang, a Moody's Vice President and Senior Analyst, said in a statement on Friday.</p>\n<p>(Reporting by the Shanghai Newsroom)</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>HK stocks fall on China growth, policy tightening worries</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHK stocks fall on China growth, policy tightening worries\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\">2021-07-02 16:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>July 2 (Reuters) - Hong Kong stocks fell the most in seven weeks on Friday as sentiment was weighed down by fears of policy tightening by Beijing and slower economic growth in the mainland.</p>\n<p>The Hang Seng index fell 1.8% to 28,310.42, while the China Enterprises Index lost 2.3% to 10,415.58 points, amid broader weakness in Asia.</p>\n<p>\"Increased tightening fears out of China combined with greater uncertainly around the impact of the Delta variant may have steered confidence sharply lower amongst Asia investors,\" State Street Global Markets wrote.</p>\n<p>Investors are also worried about slower growth in China. <a href=\"https://laohu8.com/S/MSTLW\">Morgan Stanley</a> lowered its forecast for China's second-quarter economic growth due to broad-based macro weakness seen in April-June.</p>\n<p>Data released on Wednesday showed growth in China's June factory activity dipped to a four-month low, while China's non-manufacturing Purchasing Managers' Index <a href=\"https://laohu8.com/S/PMI.UK\">$(PMI.UK)$</a> also fell during the month.</p>\n<p>The Hang Seng Tech Index , which tracks some of China's biggest technology firms such as Tencent Holdings and JD.com, slumped 3.2%.</p>\n<p><a href=\"https://laohu8.com/S/EGRNF\">China Evergrande Group</a> remained weak, after the country's most indebted property developer said contracted property sales in June fell 5.8% from a year earlier.</p>\n<p>\"Onshore and offshore capital markets will remain volatile amid tight credit conditions for developers and weak investor sentiment,\" Celine Yang, a Moody's Vice President and Senior Analyst, said in a statement on Friday.</p>\n<p>(Reporting by the Shanghai Newsroom)</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSI":"恒生指数"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2148287197","content_text":"July 2 (Reuters) - Hong Kong stocks fell the most in seven weeks on Friday as sentiment was weighed down by fears of policy tightening by Beijing and slower economic growth in the mainland.\nThe Hang Seng index fell 1.8% to 28,310.42, while the China Enterprises Index lost 2.3% to 10,415.58 points, amid broader weakness in Asia.\n\"Increased tightening fears out of China combined with greater uncertainly around the impact of the Delta variant may have steered confidence sharply lower amongst Asia investors,\" State Street Global Markets wrote.\nInvestors are also worried about slower growth in China. Morgan Stanley lowered its forecast for China's second-quarter economic growth due to broad-based macro weakness seen in April-June.\nData released on Wednesday showed growth in China's June factory activity dipped to a four-month low, while China's non-manufacturing Purchasing Managers' Index $(PMI.UK)$ also fell during the month.\nThe Hang Seng Tech Index , which tracks some of China's biggest technology firms such as Tencent Holdings and JD.com, slumped 3.2%.\nChina Evergrande Group remained weak, after the country's most indebted property developer said contracted property sales in June fell 5.8% from a year earlier.\n\"Onshore and offshore capital markets will remain volatile amid tight credit conditions for developers and weak investor sentiment,\" Celine Yang, a Moody's Vice President and Senior Analyst, said in a statement on Friday.\n(Reporting by the Shanghai Newsroom)","news_type":1},"isVote":1,"tweetType":1,"viewCount":198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156656394,"gmtCreate":1625220507118,"gmtModify":1703738631940,"author":{"id":"3581741647551370","authorId":"3581741647551370","name":"ALANWUNG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581741647551370","authorIdStr":"3581741647551370"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156656394","repostId":"1117047278","repostType":4,"repost":{"id":"1117047278","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625215673,"share":"https://ttm.financial/m/news/1117047278?lang=&edition=fundamental","pubTime":"2021-07-02 16:47","market":"us","language":"en","title":"Pop Culture Group stock surged 44% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1117047278","media":"Tiger Newspress","summary":"Pop Culture Group stock surged 44% in premarket trading.\n\nPop culture group shares Popped nearly 900","content":"<p>Pop Culture Group stock surged 44% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a1d38cc2f2a15e60a65c07229ea3c32b\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p>\n<p>Pop culture group shares Popped nearly 900% this week.</p>\n<p><img src=\"https://static.tigerbbs.com/9619ec40dc747046c87454d5489def91\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<ul>\n <li>Pop Culture is a Chinese company based out of Xiamendedicated to promoting hip-pop culture.</li>\n <li>Its goal is to “promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China.”</li>\n <li>This has it offering up entertainment events, online programs, and other services with the younger generation as its primary target.</li>\n <li>Pop Culture launched its IPO Wednesday that put shares of CPOP stock on the&nbsp;<b>Nasdaq Exchange</b>.</li>\n <li>This saw it offering 6.2 million shares of CPOP stock at a price of $6 each.</li>\n</ul>\n<ul>\n <li>That includes using it to “develop and operate online content, develop a street dance training business, create derivative works of hip-hop intellectual properties, and develop hip-hop events, and for working capital and other general corporate purposes.”</li>\n <li>While CPOP is currently trading well above the penny stock range, investors may still want to be careful when investing considering its low price before the massive surge yesterday and today.</li>\n</ul>\n<p>CPOP stock was up 97.7% as of Thursday.</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>Pop Culture Group stock surged 44% in premarket trading</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\">\nPop Culture Group stock surged 44% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-02 16:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Pop Culture Group stock surged 44% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a1d38cc2f2a15e60a65c07229ea3c32b\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p>\n<p>Pop culture group shares Popped nearly 900% this week.</p>\n<p><img src=\"https://static.tigerbbs.com/9619ec40dc747046c87454d5489def91\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<ul>\n <li>Pop Culture is a Chinese company based out of Xiamendedicated to promoting hip-pop culture.</li>\n <li>Its goal is to “promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China.”</li>\n <li>This has it offering up entertainment events, online programs, and other services with the younger generation as its primary target.</li>\n <li>Pop Culture launched its IPO Wednesday that put shares of CPOP stock on the&nbsp;<b>Nasdaq Exchange</b>.</li>\n <li>This saw it offering 6.2 million shares of CPOP stock at a price of $6 each.</li>\n</ul>\n<ul>\n <li>That includes using it to “develop and operate online content, develop a street dance training business, create derivative works of hip-hop intellectual properties, and develop hip-hop events, and for working capital and other general corporate purposes.”</li>\n <li>While CPOP is currently trading well above the penny stock range, investors may still want to be careful when investing considering its low price before the massive surge yesterday and today.</li>\n</ul>\n<p>CPOP stock was up 97.7% as of Thursday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CPOP":"普普文化"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117047278","content_text":"Pop Culture Group stock surged 44% in premarket trading.\n\nPop culture group shares Popped nearly 900% this week.\n\n\n\nPop Culture is a Chinese company based out of Xiamendedicated to promoting hip-pop culture.\nIts goal is to “promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China.”\nThis has it offering up entertainment events, online programs, and other services with the younger generation as its primary target.\nPop Culture launched its IPO Wednesday that put shares of CPOP stock on the Nasdaq Exchange.\nThis saw it offering 6.2 million shares of CPOP stock at a price of $6 each.\n\n\nThat includes using it to “develop and operate online content, develop a street dance training business, create derivative works of hip-hop intellectual properties, and develop hip-hop events, and for working capital and other general corporate purposes.”\nWhile CPOP is currently trading well above the penny stock range, investors may still want to be careful when investing considering its low price before the massive surge yesterday and today.\n\nCPOP stock was up 97.7% as of Thursday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156658846,"gmtCreate":1625220399785,"gmtModify":1703738630761,"author":{"id":"3581741647551370","authorId":"3581741647551370","name":"ALANWUNG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581741647551370","authorIdStr":"3581741647551370"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156658846","repostId":"1129356287","repostType":4,"repost":{"id":"1129356287","kind":"news","pubTimestamp":1625220037,"share":"https://ttm.financial/m/news/1129356287?lang=&edition=fundamental","pubTime":"2021-07-02 18:00","market":"us","language":"en","title":"A Wave of Earnings Restatements Slams a Hot Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1129356287","media":"The Wall Street Journal","summary":"Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n","content":"<blockquote>\n Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n</blockquote>\n<p>More than 540 companies have restated their financial accounts in the past three months, higher than every full year since 2013, to comply with a directive from Washington, new data show.</p>\n<p>The guidance from the Securities and Exchange Commission hasn’t had a big impact on investors but has helped cause a big slowdown in one of the market’s hottest areas.</p>\n<p>The SEC’s statement targeted special-purpose acquisition companies, saying in April thatsome were improperly accounting for warrants. The guidance took the market by surprise, according to analysts. Issuance of SPACs has tumbled since. What’s more, some SPACs used the restatements to disclose other more serious problems.</p>\n<p>SPACs, or blank-check companies, are shells that raise money and list on an exchange, with the goal of merging with a private firm and taking it public. Many issue warrants as part of the fundraising, giving investors the right to buy stock in the new entity created by the merger at an arranged price. The warrants are seen as animportant inducement for investorsin what are typically high-risk early-stage companies.</p>\n<p><img src=\"https://static.tigerbbs.com/4b60b5f5992aee0f496e53d24daf7e74\" tg-width=\"313\" tg-height=\"408\" referrerpolicy=\"no-referrer\"></p>\n<p>For years, SPACs and companies that had merged with SPACs treated these warrants as equity in their financial statements. The SEC in April said certain features of many of the warrants, such as better terms being offered to sponsors than outside investors, meant they should instead be treated as liabilities. One reason is that there is the potential for a cash payout in some circumstances.</p>\n<p>An SEC spokesman said the issue addressed in its April statement was “not a new accounting question.” Guidance on how to classify warrants was included in accounting rules more than a decade ago, the spokesman said.</p>\n<p>SPACs were booming when the SEC dropped its accounting bombshell. The regulator’s guidance forced a scramble among auditors and lawyers, as companies had to rethink their treatment of warrants before going public or completing mergers. At the same time, shares of popular companies tied to SPACs were tumbling, helping to stall new issuance.</p>\n<p>The monthly amount raised by new blank-check companies plummeted from $35 billion in March to $3 billion in April and has yet to recover, according to data provider Dealogic. SPACs raised $3.9 billion in May and $3.2 billion in 2021 through June 24, the data show.</p>\n<p>“The SEC statement had the impact of immediately stopping the SPAC market—it shut everything down,” said David Larsen, a managing director at valuation firm Duff &amp; Phelps LLC. “We’re still dealing with the aftermath.”</p>\n<p>Deals are still getting done, with a steady stream of SPACs taking companies public in recent weeks. The slowdown may have helped take some of the speculative froth out of the market, according to analysts. “It allowed people to take their breath in a superheated market,” Mr. Larsen said.</p>\n<p>More than 540, or almost three-quarters, of active SPACs and companies taken public by SPACs have restated their financials to comply with the SEC rules. Of those, more than 200 have made a less serious type of restatement that doesn’t require alerting investors, according to an analysis by data provider Audit Analytics.</p>\n<p>A further 330 SPACs and SPAC targets have done the most serious type of correction—the kind for which a company has to alert investors and reissue its financial statements. That is more such restatements, in less than three months, than the annual total for all companies in every year since 2010, the analysis found.</p>\n<p>Several companies taken public by SPACs also have restated other more serious aspects of their financial statements. Electric-truck startupLordstown MotorsCorp.disclosed in June “substantial doubt” about its ability to continue as a going concern through the end of this year. The company’s two top leaders later resigned over inaccuracies in the way it recorded preorders for its truck. Lordstownthis month saidit felt it had enough funding to carry it through May 2022 and was still trying to raise money.</p>\n<blockquote>\n <b>‘It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements.’</b>&nbsp;— Joel Rubinstein, White &amp; Case partner\n</blockquote>\n<p>Investors typically send stocks tumbling after major restatements, academic research has found. But these SEC-induced revisions are different.</p>\n<p>“It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements,” said Joel Rubinstein, a partner at law firm White &amp; Case.</p>\n<p>One reason is that SPACs are shell companies designed only to do deals. For SPACs that have yet to do a deal, investors typically don’t base their decisions on the companies’ financial performance, but instead judge the executive team.</p>\n<p>There is continuing fallout from the SEC action: Treating the warrants as liabilities means they will have to be revalued every three months, when the company reports its latest financial results, as opposed to the one-off value if the warrants are included as equity.</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>A Wave of Earnings Restatements Slams a Hot Market</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\">\nA Wave of Earnings Restatements Slams a Hot Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n\nMore than 540 companies have restated their financial accounts in the past three months, higher ...</p>\n\n<a href=\"https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129356287","content_text":"Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n\nMore than 540 companies have restated their financial accounts in the past three months, higher than every full year since 2013, to comply with a directive from Washington, new data show.\nThe guidance from the Securities and Exchange Commission hasn’t had a big impact on investors but has helped cause a big slowdown in one of the market’s hottest areas.\nThe SEC’s statement targeted special-purpose acquisition companies, saying in April thatsome were improperly accounting for warrants. The guidance took the market by surprise, according to analysts. Issuance of SPACs has tumbled since. What’s more, some SPACs used the restatements to disclose other more serious problems.\nSPACs, or blank-check companies, are shells that raise money and list on an exchange, with the goal of merging with a private firm and taking it public. Many issue warrants as part of the fundraising, giving investors the right to buy stock in the new entity created by the merger at an arranged price. The warrants are seen as animportant inducement for investorsin what are typically high-risk early-stage companies.\n\nFor years, SPACs and companies that had merged with SPACs treated these warrants as equity in their financial statements. The SEC in April said certain features of many of the warrants, such as better terms being offered to sponsors than outside investors, meant they should instead be treated as liabilities. One reason is that there is the potential for a cash payout in some circumstances.\nAn SEC spokesman said the issue addressed in its April statement was “not a new accounting question.” Guidance on how to classify warrants was included in accounting rules more than a decade ago, the spokesman said.\nSPACs were booming when the SEC dropped its accounting bombshell. The regulator’s guidance forced a scramble among auditors and lawyers, as companies had to rethink their treatment of warrants before going public or completing mergers. At the same time, shares of popular companies tied to SPACs were tumbling, helping to stall new issuance.\nThe monthly amount raised by new blank-check companies plummeted from $35 billion in March to $3 billion in April and has yet to recover, according to data provider Dealogic. SPACs raised $3.9 billion in May and $3.2 billion in 2021 through June 24, the data show.\n“The SEC statement had the impact of immediately stopping the SPAC market—it shut everything down,” said David Larsen, a managing director at valuation firm Duff & Phelps LLC. “We’re still dealing with the aftermath.”\nDeals are still getting done, with a steady stream of SPACs taking companies public in recent weeks. The slowdown may have helped take some of the speculative froth out of the market, according to analysts. “It allowed people to take their breath in a superheated market,” Mr. Larsen said.\nMore than 540, or almost three-quarters, of active SPACs and companies taken public by SPACs have restated their financials to comply with the SEC rules. Of those, more than 200 have made a less serious type of restatement that doesn’t require alerting investors, according to an analysis by data provider Audit Analytics.\nA further 330 SPACs and SPAC targets have done the most serious type of correction—the kind for which a company has to alert investors and reissue its financial statements. That is more such restatements, in less than three months, than the annual total for all companies in every year since 2010, the analysis found.\nSeveral companies taken public by SPACs also have restated other more serious aspects of their financial statements. Electric-truck startupLordstown MotorsCorp.disclosed in June “substantial doubt” about its ability to continue as a going concern through the end of this year. The company’s two top leaders later resigned over inaccuracies in the way it recorded preorders for its truck. Lordstownthis month saidit felt it had enough funding to carry it through May 2022 and was still trying to raise money.\n\n‘It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements.’ — Joel Rubinstein, White & Case partner\n\nInvestors typically send stocks tumbling after major restatements, academic research has found. But these SEC-induced revisions are different.\n“It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements,” said Joel Rubinstein, a partner at law firm White & Case.\nOne reason is that SPACs are shell companies designed only to do deals. For SPACs that have yet to do a deal, investors typically don’t base their decisions on the companies’ financial performance, but instead judge the executive team.\nThere is continuing fallout from the SEC action: Treating the warrants as liabilities means they will have to be revalued every three months, when the company reports its latest financial results, as opposed to the one-off value if the warrants are included as equity.","news_type":1},"isVote":1,"tweetType":1,"viewCount":347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156164710,"gmtCreate":1625203451530,"gmtModify":1703738305576,"author":{"id":"3581741647551370","authorId":"3581741647551370","name":"ALANWUNG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581741647551370","authorIdStr":"3581741647551370"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156164710","repostId":"1117022622","repostType":4,"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":156658846,"gmtCreate":1625220399785,"gmtModify":1703738630761,"author":{"id":"3581741647551370","authorId":"3581741647551370","name":"ALANWUNG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581741647551370","idStr":"3581741647551370"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156658846","repostId":"1129356287","repostType":4,"repost":{"id":"1129356287","kind":"news","pubTimestamp":1625220037,"share":"https://ttm.financial/m/news/1129356287?lang=&edition=fundamental","pubTime":"2021-07-02 18:00","market":"us","language":"en","title":"A Wave of Earnings Restatements Slams a Hot Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1129356287","media":"The Wall Street Journal","summary":"Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n","content":"<blockquote>\n Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n</blockquote>\n<p>More than 540 companies have restated their financial accounts in the past three months, higher than every full year since 2013, to comply with a directive from Washington, new data show.</p>\n<p>The guidance from the Securities and Exchange Commission hasn’t had a big impact on investors but has helped cause a big slowdown in one of the market’s hottest areas.</p>\n<p>The SEC’s statement targeted special-purpose acquisition companies, saying in April thatsome were improperly accounting for warrants. The guidance took the market by surprise, according to analysts. Issuance of SPACs has tumbled since. What’s more, some SPACs used the restatements to disclose other more serious problems.</p>\n<p>SPACs, or blank-check companies, are shells that raise money and list on an exchange, with the goal of merging with a private firm and taking it public. Many issue warrants as part of the fundraising, giving investors the right to buy stock in the new entity created by the merger at an arranged price. The warrants are seen as animportant inducement for investorsin what are typically high-risk early-stage companies.</p>\n<p><img src=\"https://static.tigerbbs.com/4b60b5f5992aee0f496e53d24daf7e74\" tg-width=\"313\" tg-height=\"408\" referrerpolicy=\"no-referrer\"></p>\n<p>For years, SPACs and companies that had merged with SPACs treated these warrants as equity in their financial statements. The SEC in April said certain features of many of the warrants, such as better terms being offered to sponsors than outside investors, meant they should instead be treated as liabilities. One reason is that there is the potential for a cash payout in some circumstances.</p>\n<p>An SEC spokesman said the issue addressed in its April statement was “not a new accounting question.” Guidance on how to classify warrants was included in accounting rules more than a decade ago, the spokesman said.</p>\n<p>SPACs were booming when the SEC dropped its accounting bombshell. The regulator’s guidance forced a scramble among auditors and lawyers, as companies had to rethink their treatment of warrants before going public or completing mergers. At the same time, shares of popular companies tied to SPACs were tumbling, helping to stall new issuance.</p>\n<p>The monthly amount raised by new blank-check companies plummeted from $35 billion in March to $3 billion in April and has yet to recover, according to data provider Dealogic. SPACs raised $3.9 billion in May and $3.2 billion in 2021 through June 24, the data show.</p>\n<p>“The SEC statement had the impact of immediately stopping the SPAC market—it shut everything down,” said David Larsen, a managing director at valuation firm Duff &amp; Phelps LLC. “We’re still dealing with the aftermath.”</p>\n<p>Deals are still getting done, with a steady stream of SPACs taking companies public in recent weeks. The slowdown may have helped take some of the speculative froth out of the market, according to analysts. “It allowed people to take their breath in a superheated market,” Mr. Larsen said.</p>\n<p>More than 540, or almost three-quarters, of active SPACs and companies taken public by SPACs have restated their financials to comply with the SEC rules. Of those, more than 200 have made a less serious type of restatement that doesn’t require alerting investors, according to an analysis by data provider Audit Analytics.</p>\n<p>A further 330 SPACs and SPAC targets have done the most serious type of correction—the kind for which a company has to alert investors and reissue its financial statements. That is more such restatements, in less than three months, than the annual total for all companies in every year since 2010, the analysis found.</p>\n<p>Several companies taken public by SPACs also have restated other more serious aspects of their financial statements. Electric-truck startupLordstown MotorsCorp.disclosed in June “substantial doubt” about its ability to continue as a going concern through the end of this year. The company’s two top leaders later resigned over inaccuracies in the way it recorded preorders for its truck. Lordstownthis month saidit felt it had enough funding to carry it through May 2022 and was still trying to raise money.</p>\n<blockquote>\n <b>‘It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements.’</b>&nbsp;— Joel Rubinstein, White &amp; Case partner\n</blockquote>\n<p>Investors typically send stocks tumbling after major restatements, academic research has found. But these SEC-induced revisions are different.</p>\n<p>“It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements,” said Joel Rubinstein, a partner at law firm White &amp; Case.</p>\n<p>One reason is that SPACs are shell companies designed only to do deals. For SPACs that have yet to do a deal, investors typically don’t base their decisions on the companies’ financial performance, but instead judge the executive team.</p>\n<p>There is continuing fallout from the SEC action: Treating the warrants as liabilities means they will have to be revalued every three months, when the company reports its latest financial results, as opposed to the one-off value if the warrants are included as equity.</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>A Wave of Earnings Restatements Slams a Hot Market</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\">\nA Wave of Earnings Restatements Slams a Hot Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 18:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n\nMore than 540 companies have restated their financial accounts in the past three months, higher ...</p>\n\n<a href=\"https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.wsj.com/articles/a-wave-of-earnings-restatements-slams-a-hot-market-11625218380?mod=rss_markets_main","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1129356287","content_text":"Accounting guidance from the Securities and Exchange Commission has led to a big slowdown in SPACs.\n\nMore than 540 companies have restated their financial accounts in the past three months, higher than every full year since 2013, to comply with a directive from Washington, new data show.\nThe guidance from the Securities and Exchange Commission hasn’t had a big impact on investors but has helped cause a big slowdown in one of the market’s hottest areas.\nThe SEC’s statement targeted special-purpose acquisition companies, saying in April thatsome were improperly accounting for warrants. The guidance took the market by surprise, according to analysts. Issuance of SPACs has tumbled since. What’s more, some SPACs used the restatements to disclose other more serious problems.\nSPACs, or blank-check companies, are shells that raise money and list on an exchange, with the goal of merging with a private firm and taking it public. Many issue warrants as part of the fundraising, giving investors the right to buy stock in the new entity created by the merger at an arranged price. The warrants are seen as animportant inducement for investorsin what are typically high-risk early-stage companies.\n\nFor years, SPACs and companies that had merged with SPACs treated these warrants as equity in their financial statements. The SEC in April said certain features of many of the warrants, such as better terms being offered to sponsors than outside investors, meant they should instead be treated as liabilities. One reason is that there is the potential for a cash payout in some circumstances.\nAn SEC spokesman said the issue addressed in its April statement was “not a new accounting question.” Guidance on how to classify warrants was included in accounting rules more than a decade ago, the spokesman said.\nSPACs were booming when the SEC dropped its accounting bombshell. The regulator’s guidance forced a scramble among auditors and lawyers, as companies had to rethink their treatment of warrants before going public or completing mergers. At the same time, shares of popular companies tied to SPACs were tumbling, helping to stall new issuance.\nThe monthly amount raised by new blank-check companies plummeted from $35 billion in March to $3 billion in April and has yet to recover, according to data provider Dealogic. SPACs raised $3.9 billion in May and $3.2 billion in 2021 through June 24, the data show.\n“The SEC statement had the impact of immediately stopping the SPAC market—it shut everything down,” said David Larsen, a managing director at valuation firm Duff & Phelps LLC. “We’re still dealing with the aftermath.”\nDeals are still getting done, with a steady stream of SPACs taking companies public in recent weeks. The slowdown may have helped take some of the speculative froth out of the market, according to analysts. “It allowed people to take their breath in a superheated market,” Mr. Larsen said.\nMore than 540, or almost three-quarters, of active SPACs and companies taken public by SPACs have restated their financials to comply with the SEC rules. Of those, more than 200 have made a less serious type of restatement that doesn’t require alerting investors, according to an analysis by data provider Audit Analytics.\nA further 330 SPACs and SPAC targets have done the most serious type of correction—the kind for which a company has to alert investors and reissue its financial statements. That is more such restatements, in less than three months, than the annual total for all companies in every year since 2010, the analysis found.\nSeveral companies taken public by SPACs also have restated other more serious aspects of their financial statements. Electric-truck startupLordstown MotorsCorp.disclosed in June “substantial doubt” about its ability to continue as a going concern through the end of this year. The company’s two top leaders later resigned over inaccuracies in the way it recorded preorders for its truck. Lordstownthis month saidit felt it had enough funding to carry it through May 2022 and was still trying to raise money.\n\n‘It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements.’ — Joel Rubinstein, White & Case partner\n\nInvestors typically send stocks tumbling after major restatements, academic research has found. But these SEC-induced revisions are different.\n“It’s been highly disruptive to the market and a huge distraction for companies. But investors are not fazed by these countless restatements,” said Joel Rubinstein, a partner at law firm White & Case.\nOne reason is that SPACs are shell companies designed only to do deals. For SPACs that have yet to do a deal, investors typically don’t base their decisions on the companies’ financial performance, but instead judge the executive team.\nThere is continuing fallout from the SEC action: Treating the warrants as liabilities means they will have to be revalued every three months, when the company reports its latest financial results, as opposed to the one-off value if the warrants are included as equity.","news_type":1},"isVote":1,"tweetType":1,"viewCount":347,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156164710,"gmtCreate":1625203451530,"gmtModify":1703738305576,"author":{"id":"3581741647551370","authorId":"3581741647551370","name":"ALANWUNG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581741647551370","idStr":"3581741647551370"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/156164710","repostId":"1117022622","repostType":4,"repost":{"id":"1117022622","kind":"news","pubTimestamp":1625202658,"share":"https://ttm.financial/m/news/1117022622?lang=&edition=fundamental","pubTime":"2021-07-02 13:10","market":"us","language":"en","title":"Manhattan real estate prices reach new record as buying 'frenzy' takes hold","url":"https://stock-news.laohu8.com/highlight/detail?id=1117022622","media":"CNBC","summary":"Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to t","content":"<div>\n<p>Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to the city and boosted demand for the largest, most expensive apartments, according to new reports.\nThe...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/02/manhattan-real-estate-prices-reach-new-record-with-buying-frenzy-.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Manhattan real estate prices reach new record as buying 'frenzy' takes hold</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\">\nManhattan real estate prices reach new record as buying 'frenzy' takes hold\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-02 13:10 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/07/02/manhattan-real-estate-prices-reach-new-record-with-buying-frenzy-.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to the city and boosted demand for the largest, most expensive apartments, according to new reports.\nThe...</p>\n\n<a href=\"https://www.cnbc.com/2021/07/02/manhattan-real-estate-prices-reach-new-record-with-buying-frenzy-.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index"},"source_url":"https://www.cnbc.com/2021/07/02/manhattan-real-estate-prices-reach-new-record-with-buying-frenzy-.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1117022622","content_text":"Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to the city and boosted demand for the largest, most expensive apartments, according to new reports.\nThe median resale price for Manhattan apartments hit $999,000 in the second quarter — the highest on record, according to a report from Douglas Elliman and Miller Samuel. Average sale prices rose 12% in the quarter, topping $1.9 million.\nThe price jumps and shrinking inventory suggest that the Manhattan real estate rebound continues to gain momentum, as more families look to trade up to larger apartments and buyers look to take advantage of lower prices and low mortgage rates.\n\"It's a sign of the frenzy and intensity of the market,\" said Jonathan Miller, CEO of real estate appraisal firm Miller Samuel. \"It's rebounding much faster than most participants expected.\"\nThere were 3,417 sales in the second quarter — a 150% gain from last year,when many New York residents were leaving the city during the pandemic, and Covid restrictions prevented apartments from being shown for much of the quarter. However, the pace was also robust compared with pre-pandemic levels. It was the strongest second quarter since 2007, according to Miller Samuel. Bidding wars were at the highest pace in two and a half years.\nThe buying spree has led to fewer apartments on the market. Listing inventory fell 27% compared with a year ago, and the supply of homes for sale — at 6.9 months — is now lower than the historical average of about eight to nine months, Miller said.\nThe strongest growth is at the top of the market — literally. There have been more than 220 penthouses sold in Manhattan so far this year, the strongest on record, according to Corcoran Market Research. That marks a 35% increase from the 164 penthouse contacts signed for the same period in 2019, before the pandemic.\n\"As the city continues to reopen, penthouses have proven to have the perfect formula of generous square footage and private outdoor space, plus the all the luxury amenities that can only be found in a full-service building,\" said Pamela Liebman, president and CEO of Corcoran. \"For high net worth individuals, the prospect of making their home in a 'mansion in the sky' has never been more irresistible.\"\nThe strength of the high-end market — above $5 million — marks a dramatic turnaround from before the pandemic. An oversupply of high-end apartments and sellers unwilling to lower prices led to a slowdown in the price range before 2020, while the lower end, at $1 million to $2 million, was strong. Now brokers say the top the market is driving much of the growth, since the wealthy have grown even wealthier during the pandemic from rising stock markets and easy monetary policy.\nThe median sales price for three- and four-bedroom apartments surged by double-digits in the second quarter from the first quarter.\nStill, the inventory of luxury apartments remains high — at 13 months, according to Miller Samuel. And since many new development buildings aren't officially listing all their empty units, for fear of over-saturating the market, the real number is far higher, Miller said.\n\"You have to account for the 'inventory management,' \" he said.\nThe strength of the penthouse market has also changed the economics of new development. Historically, developers have sold the penthouse after most or all of the other apartments in a building are sold. Holding penthouses for last made them special and created a sense of scarcity to get buyers to pay more. Now, as the wealthy are willing to pay up for more space and outdoor features, developers are selling penthouses earlier — sometimes even as the first sales.\n\"Developers are getting what they see as a fair price for the penthouses now, so they're no longer holding them,\" Miller said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":258,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156656584,"gmtCreate":1625220554448,"gmtModify":1703738632271,"author":{"id":"3581741647551370","authorId":"3581741647551370","name":"ALANWUNG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581741647551370","idStr":"3581741647551370"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156656584","repostId":"2148287197","repostType":4,"isVote":1,"tweetType":1,"viewCount":198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":156656394,"gmtCreate":1625220507118,"gmtModify":1703738631940,"author":{"id":"3581741647551370","authorId":"3581741647551370","name":"ALANWUNG","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3581741647551370","idStr":"3581741647551370"},"themes":[],"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/156656394","repostId":"1117047278","repostType":4,"repost":{"id":"1117047278","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1625215673,"share":"https://ttm.financial/m/news/1117047278?lang=&edition=fundamental","pubTime":"2021-07-02 16:47","market":"us","language":"en","title":"Pop Culture Group stock surged 44% in premarket trading","url":"https://stock-news.laohu8.com/highlight/detail?id=1117047278","media":"Tiger Newspress","summary":"Pop Culture Group stock surged 44% in premarket trading.\n\nPop culture group shares Popped nearly 900","content":"<p>Pop Culture Group stock surged 44% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a1d38cc2f2a15e60a65c07229ea3c32b\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p>\n<p>Pop culture group shares Popped nearly 900% this week.</p>\n<p><img src=\"https://static.tigerbbs.com/9619ec40dc747046c87454d5489def91\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<ul>\n <li>Pop Culture is a Chinese company based out of Xiamendedicated to promoting hip-pop culture.</li>\n <li>Its goal is to “promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China.”</li>\n <li>This has it offering up entertainment events, online programs, and other services with the younger generation as its primary target.</li>\n <li>Pop Culture launched its IPO Wednesday that put shares of CPOP stock on the&nbsp;<b>Nasdaq Exchange</b>.</li>\n <li>This saw it offering 6.2 million shares of CPOP stock at a price of $6 each.</li>\n</ul>\n<ul>\n <li>That includes using it to “develop and operate online content, develop a street dance training business, create derivative works of hip-hop intellectual properties, and develop hip-hop events, and for working capital and other general corporate purposes.”</li>\n <li>While CPOP is currently trading well above the penny stock range, investors may still want to be careful when investing considering its low price before the massive surge yesterday and today.</li>\n</ul>\n<p>CPOP stock was up 97.7% as of Thursday.</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>Pop Culture Group stock surged 44% in premarket trading</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\">\nPop Culture Group stock surged 44% in premarket trading\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-02 16:47</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Pop Culture Group stock surged 44% in premarket trading.</p>\n<p><img src=\"https://static.tigerbbs.com/a1d38cc2f2a15e60a65c07229ea3c32b\" tg-width=\"1302\" tg-height=\"663\" referrerpolicy=\"no-referrer\"></p>\n<p>Pop culture group shares Popped nearly 900% this week.</p>\n<p><img src=\"https://static.tigerbbs.com/9619ec40dc747046c87454d5489def91\" tg-width=\"840\" tg-height=\"470\" referrerpolicy=\"no-referrer\"></p>\n<p></p>\n<ul>\n <li>Pop Culture is a Chinese company based out of Xiamendedicated to promoting hip-pop culture.</li>\n <li>Its goal is to “promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China.”</li>\n <li>This has it offering up entertainment events, online programs, and other services with the younger generation as its primary target.</li>\n <li>Pop Culture launched its IPO Wednesday that put shares of CPOP stock on the&nbsp;<b>Nasdaq Exchange</b>.</li>\n <li>This saw it offering 6.2 million shares of CPOP stock at a price of $6 each.</li>\n</ul>\n<ul>\n <li>That includes using it to “develop and operate online content, develop a street dance training business, create derivative works of hip-hop intellectual properties, and develop hip-hop events, and for working capital and other general corporate purposes.”</li>\n <li>While CPOP is currently trading well above the penny stock range, investors may still want to be careful when investing considering its low price before the massive surge yesterday and today.</li>\n</ul>\n<p>CPOP stock was up 97.7% as of Thursday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CPOP":"普普文化"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1117047278","content_text":"Pop Culture Group stock surged 44% in premarket trading.\n\nPop culture group shares Popped nearly 900% this week.\n\n\n\nPop Culture is a Chinese company based out of Xiamendedicated to promoting hip-pop culture.\nIts goal is to “promote hip-hop culture and its values of love, peace, unity, respect, and having fun, and to promote cultural exchange with respect to hip-hop between the United States and China.”\nThis has it offering up entertainment events, online programs, and other services with the younger generation as its primary target.\nPop Culture launched its IPO Wednesday that put shares of CPOP stock on the Nasdaq Exchange.\nThis saw it offering 6.2 million shares of CPOP stock at a price of $6 each.\n\n\nThat includes using it to “develop and operate online content, develop a street dance training business, create derivative works of hip-hop intellectual properties, and develop hip-hop events, and for working capital and other general corporate purposes.”\nWhile CPOP is currently trading well above the penny stock range, investors may still want to be careful when investing considering its low price before the massive surge yesterday and today.\n\nCPOP stock was up 97.7% as of Thursday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":314,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}