bbcall personal page - To The Moon

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2023-04-19

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2023-04-19

$Tiger Brokers(TIGR)$ ...........

2023-04-19

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2023-04-19

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2023-04-19

$Netflix(NFLX)$ ..ok

2023-04-19

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2023-04-19

$Tesla Motors(TSLA)$

2022-09-26

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2022-09-13

$HP Inc(HPQ)$up

2022-09-13

$ESS Tech Inc.(GWH)$.

2022-08-26

$Tiger Brokers(TIGR)$View on Tiger Brokers(TIGR)BullishBearish

2022-08-26

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3 No-Brainer Stocks I'd Buy Right Now Without Hesitation

2022-08-26

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Apple Stock: Is It Overvalued?

2022-08-26

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2022-08-22

$Futu Holdings Limited(FUTU)$.

2022-08-22

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2022-08-22

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2022-08-22

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Buying the Dip: Here are Top 5 Stocks Hedge Funds Bought the Most

2022-08-19

$Futu Holdings Limited(FUTU)$View on Futu Holdings Limited(FUTU)BullishBearish

2022-08-19

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href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","text":"$Tesla Motors(TSLA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944655173","isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9911671264,"gmtCreate":1664202216959,"gmtModify":1676537409148,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":".","listText":".","text":".","images":[{"img":"https://community-static.tradeup.com/news/e3fb3d30908cc7a2405de6f109ca059c","width":"1080","height":"1450"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9911671264","isVote":1,"tweetType":1,"viewCount":446,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9935893480,"gmtCreate":1663059536540,"gmtModify":1676537193800,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/HPQ\">$HP Inc(HPQ)$</a>up","listText":"<a href=\"https://ttm.financial/S/HPQ\">$HP Inc(HPQ)$</a>up","text":"$HP Inc(HPQ)$up","images":[{"img":"https://community-static.tradeup.com/news/d56bebf8cbfdba979079bad2162a7d9b","width":"1080","height":"1584"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9935893480","isVote":1,"tweetType":1,"viewCount":470,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9935893146,"gmtCreate":1663059500285,"gmtModify":1676537193790,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/GWH\">$ESS Tech Inc.(GWH)$</a>.","listText":"<a href=\"https://ttm.financial/S/GWH\">$ESS Tech Inc.(GWH)$</a>.","text":"$ESS Tech Inc.(GWH)$.","images":[{"img":"https://community-static.tradeup.com/news/b9ff4ca387ade27860c1855244b98aec","width":"1080","height":"1479"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9935893146","isVote":1,"tweetType":1,"viewCount":445,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9995611212,"gmtCreate":1661467350738,"gmtModify":1676536522072,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TIGR\">$Tiger Brokers(TIGR)$</a>View on Tiger 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20:21","market":"us","language":"en","title":"3 No-Brainer Stocks I'd Buy Right Now Without Hesitation","url":"https://stock-news.laohu8.com/highlight/detail?id=2261144629","media":"Motley Fool","summary":"A down market is the perfect opportunity to buy into these highly profitable and attractively priced stocks.","content":"<html><head></head><body><p>Even after the mild recovery in the <b>S&amp;P 500</b> and <b>Dow Jones Industrial Average</b> these past two months, 2022 is serving as a stark reminder that stock market corrections can and do happen.</p><p>There are always plenty of reasons to sell: the market is crashing, housing is falling, interest rates are rising, China&#39;s economy is slowing down, and so on. A lot of times it sounds smart and you&#39;re tempted to sell all your stocks and sit on the sidelines, but don&#39;t do it. You&#39;re going to undermine your long-term profits.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/3742b8529ee21275e8865805dc8b869c\" tg-width=\"700\" tg-height=\"467\" width=\"100%\" height=\"auto\"/><span>Image source: Getty Images.</span></p><p>Over the past 20 years through 2021, the stock market went up an average of 9.5% a year, but if you missed the 10 best days in the market, your returns would be nearly cut in half to 5.3% a year. Literally just sitting on your hands is the best action you can take.</p><p>Corrections are actually the perfect time to invest in high-quality stocks that are now offered at discount prices. We never know how far &#34;down&#34; is or when the reversal will happen, but bull markets always follow bear markets -- and it&#39;s important to be invested when it happens. The following three stocks are no-brainers to buy now without even pausing to think about it.</p><h2>Apple</h2><p>There are few brands as iconic as <b>Apple</b>. Its technology, innovation, and styling have attracted legions of diehard loyalists who willingly immerse themselves in the company&#39;s ecosystem. That by itself is one of the reasons Apple stock should be a top-of-mind choice for investors: Because it has a loyal following like few other brands, it has a target consumer ready to buy its next innovation, or even reiteration, giving it a steady stream of revenue for years to come.</p><p>Warren Buffett certainly thinks so, making Apple the largest holding in <b>Berkshire Hathaway</b>, or some 41% of all the stocks holdings he manages. I don&#39;t think you should necessarily follow that lead and make the tech stock such a dominant position in your own portfolio, but Apple is worth your attention.</p><p>Revenue is running at record highs, but Services and its recurring income streams are where Apple&#39;s future lies. It&#39;s the fastest growing segment, and the tech giant now has more than 860 million paid subscriptions across the services on all of its platforms, up 23% over the last 12 months. That&#39;s another reason why Apple is a no-brainer buy.</p><h2>Amazon</h2><p>E-commerce leader <b>Amazon</b> should also occupy a spot on this list if only because it has become so integral to how tens of millions of consumers regularly shop. Even during a technical recession, currency-adjusted sales jumped by double-digit rates to $121 billion. Sure, it&#39;s being impacted by rising inflation, energy, and labor costs just like every other retailer, but it&#39;s also able to achieve economies of scale unavailable to most other businesses.</p><p>Of course, it&#39;s not selling gadgets and groceries that make Amazon tick (or ring the register), but rather its cloud services operation, Amazon Web Services (AWS). Serving as the backbone for many businesses&#39; online presence, AWS&#39;s revenue has risen by more than 30% over each of the first two quarters of this year. AWS is s further expanding its capabilities for leading-edge technologies such as streaming video, online gaming, and augmented and virtual reality. For example, the company is creating storage and database infrastructure closer to the customer, which allows for increased efficiency due to split-second data travel times.</p><p>Long the most profitable portion of Amazon&#39;s business, AWS also the cloud-infrastructure leader with a 33% market share, well ahead of runner-up Microsoft&#39;s Azure with a 21% share and Alphabet&#39;s Google Cloud at 8%.</p><p>No business is immune from macroeconomic influences, but Amazon&#39;s e-commerce and cloud services operations are on a skyrocketing trajectory, making it a winning investment for decades to come.</p><h2>AT&amp;T</h2><p>I&#39;m completing the trio of no-brainer stocks to buy now with yet another company starting with the letter A: <b>AT&amp;T</b>. The telecom giant has been a staple of investor portfolios for decades and has long been considered one of the original widow-and-orphan stocks because of its stability.</p><p>It had gotten away from those roots for awhile with forays into entertainment and elsewhere. However, the spinoff and merger of its Warner Media division into <b>Warner Bros Discovery</b> brings its focus back home and narrows it to just its telecom business once more. It also gives it some $43 billion that it can use to pay down its debt as well as invest in its 5G networks that will provide the next leg up for growth. It represents the first upgrade to wireless download speeds in about a decade, and that will continue to drive the smartphone upgrade cycle (another boost for Apple, too).</p><p>AT&amp;T was a crucial investment for so many because of its lucrative dividend, and while the spinoff caused it to slash its payout in half (and lose its status as a Dividend Aristocrat), it still yields some of the highest percentages of similarly-situated corporations of its size.</p><p>The dividend currently yields 6.1% annually, the ninth-highest of all stocks in the S&amp;P 500, and after the cut, it&#39;s even safer than it was before. With a payout ratio of 43%, AT&amp;T has plenty of room to cover the payment and grow the dividend in the future.</p><p>The telecom stock is a no-brainer buy for its growth potential and the income stream it produces.</p></body></html>","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>3 No-Brainer Stocks I'd Buy Right Now Without Hesitation</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n3 No-Brainer Stocks I'd Buy Right Now Without Hesitation\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-25 20:21 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/08/24/3-no-brainer-stocks-to-buy-now-without-hesitation/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Even after the mild recovery in the S&P 500 and Dow Jones Industrial Average these past two months, 2022 is serving as a stark reminder that stock market corrections can and do happen.There are always...</p>\n\n<a href=\"https://www.fool.com/investing/2022/08/24/3-no-brainer-stocks-to-buy-now-without-hesitation/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMZN":"亚马逊","T":"美国电话电报","AAPL":"苹果"},"source_url":"https://www.fool.com/investing/2022/08/24/3-no-brainer-stocks-to-buy-now-without-hesitation/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2261144629","content_text":"Even after the mild recovery in the S&P 500 and Dow Jones Industrial Average these past two months, 2022 is serving as a stark reminder that stock market corrections can and do happen.There are always plenty of reasons to sell: the market is crashing, housing is falling, interest rates are rising, China's economy is slowing down, and so on. A lot of times it sounds smart and you're tempted to sell all your stocks and sit on the sidelines, but don't do it. You're going to undermine your long-term profits.Image source: Getty Images.Over the past 20 years through 2021, the stock market went up an average of 9.5% a year, but if you missed the 10 best days in the market, your returns would be nearly cut in half to 5.3% a year. Literally just sitting on your hands is the best action you can take.Corrections are actually the perfect time to invest in high-quality stocks that are now offered at discount prices. We never know how far \"down\" is or when the reversal will happen, but bull markets always follow bear markets -- and it's important to be invested when it happens. The following three stocks are no-brainers to buy now without even pausing to think about it.AppleThere are few brands as iconic as Apple. Its technology, innovation, and styling have attracted legions of diehard loyalists who willingly immerse themselves in the company's ecosystem. That by itself is one of the reasons Apple stock should be a top-of-mind choice for investors: Because it has a loyal following like few other brands, it has a target consumer ready to buy its next innovation, or even reiteration, giving it a steady stream of revenue for years to come.Warren Buffett certainly thinks so, making Apple the largest holding in Berkshire Hathaway, or some 41% of all the stocks holdings he manages. I don't think you should necessarily follow that lead and make the tech stock such a dominant position in your own portfolio, but Apple is worth your attention.Revenue is running at record highs, but Services and its recurring income streams are where Apple's future lies. It's the fastest growing segment, and the tech giant now has more than 860 million paid subscriptions across the services on all of its platforms, up 23% over the last 12 months. That's another reason why Apple is a no-brainer buy.AmazonE-commerce leader Amazon should also occupy a spot on this list if only because it has become so integral to how tens of millions of consumers regularly shop. Even during a technical recession, currency-adjusted sales jumped by double-digit rates to $121 billion. Sure, it's being impacted by rising inflation, energy, and labor costs just like every other retailer, but it's also able to achieve economies of scale unavailable to most other businesses.Of course, it's not selling gadgets and groceries that make Amazon tick (or ring the register), but rather its cloud services operation, Amazon Web Services (AWS). Serving as the backbone for many businesses' online presence, AWS's revenue has risen by more than 30% over each of the first two quarters of this year. AWS is s further expanding its capabilities for leading-edge technologies such as streaming video, online gaming, and augmented and virtual reality. For example, the company is creating storage and database infrastructure closer to the customer, which allows for increased efficiency due to split-second data travel times.Long the most profitable portion of Amazon's business, AWS also the cloud-infrastructure leader with a 33% market share, well ahead of runner-up Microsoft's Azure with a 21% share and Alphabet's Google Cloud at 8%.No business is immune from macroeconomic influences, but Amazon's e-commerce and cloud services operations are on a skyrocketing trajectory, making it a winning investment for decades to come.AT&TI'm completing the trio of no-brainer stocks to buy now with yet another company starting with the letter A: AT&T. The telecom giant has been a staple of investor portfolios for decades and has long been considered one of the original widow-and-orphan stocks because of its stability.It had gotten away from those roots for awhile with forays into entertainment and elsewhere. However, the spinoff and merger of its Warner Media division into Warner Bros Discovery brings its focus back home and narrows it to just its telecom business once more. It also gives it some $43 billion that it can use to pay down its debt as well as invest in its 5G networks that will provide the next leg up for growth. It represents the first upgrade to wireless download speeds in about a decade, and that will continue to drive the smartphone upgrade cycle (another boost for Apple, too).AT&T was a crucial investment for so many because of its lucrative dividend, and while the spinoff caused it to slash its payout in half (and lose its status as a Dividend Aristocrat), it still yields some of the highest percentages of similarly-situated corporations of its size.The dividend currently yields 6.1% annually, the ninth-highest of all stocks in the S&P 500, and after the cut, it's even safer than it was before. With a payout ratio of 43%, AT&T has plenty of room to cover the payment and grow the dividend in the future.The telecom stock is a no-brainer buy for its growth potential and the income stream it produces.","news_type":1},"isVote":1,"tweetType":1,"viewCount":130,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9995613174,"gmtCreate":1661467224501,"gmtModify":1676536522041,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"。","listText":"。","text":"。","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995613174","repostId":"1155224332","repostType":4,"repost":{"id":"1155224332","kind":"news","pubTimestamp":1661413530,"share":"https://ttm.financial/m/news/1155224332?lang=&edition=fundamental","pubTime":"2022-08-25 15:45","market":"us","language":"en","title":"Apple Stock: Is It Overvalued?","url":"https://stock-news.laohu8.com/highlight/detail?id=1155224332","media":"TheStreet","summary":"One of the main pillars of the bearish thesis on Apple stock is the rich valuation. But compared to ","content":"<html><head></head><body><p>One of the main pillars of the bearish thesis on Apple stock is the rich valuation. But compared to the peer group, maybe AAPL is not so pricey after all.</p><p><b>Apple</b> stock is considered a buy by the majority of analysts that cover the name. According to TipRanks, more than 80% of Wall Street experts think that owning shares is a good idea, while only one analyst has a sell rating on the stock.</p><p>Among skeptics, one of the main arguments against owning AAPL is the elevated P/E ratio. But a closer look at the peer comparison suggests that Apple stock may be more affordable than many seem to believe.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/43a857803961118aaec24d329afbb569\" tg-width=\"1240\" tg-height=\"827\" width=\"100%\" height=\"auto\"/><span>Figure 1: Is Apple Stock Overvalued? What The Peer Comparison Says</span></p><p><b>Apple’s valuations: fair, too rich, or a bargain?</b></p><p>The following graph probably explains why so many value investors are cautious about Apple stock today. Notice what has happened to AAPL’s price-to-earnings (or P/E) ratio over the past 10 years:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/0553c50e1e51280c4e0a5f50a0ab7313\" tg-width=\"1000\" tg-height=\"485\" width=\"100%\" height=\"auto\"/><span>Figure 2: Apple&#39;s valuation.</span></p><p>Starting a couple of years after the launch of the original iPad, Apple’s P/E fluctuated between 10 and 20 times for a few years. Then, beginning in 2019, the valuation multiple skyrocketed to as high as 44 times early last year, settling now to just below 30 times.</p><p>The multiple expansion happened for a few reasons, the most relevant of which was probably Apple’s business model shift to higher-margin and more predictable services. The post-iPhone X success of Apple’s smartphone segment, along with the company’s generous cash return policy, probably helped too.</p><p>But tech companies, especially those in high growth stages of their lifecycles or whose “moats” are considered wide, tend to command high P/Es. Take a look at the following table comparing some of Apple’s key valuation metrics with those of peers selected by Stock Rover:</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a113f08e69b46e338f58200da166c3f0\" tg-width=\"1002\" tg-height=\"278\" width=\"100%\" height=\"auto\"/><span>Figure 3: Apple peers key valuation metrics selected by Stock Rover.</span></p><p>Starting with P/E, in the sixth column, notice how AAPL’s 27.6 times is actually much lower than NVIDIA’s 46.1 and Adobe’s 40.1 times, for example. Part of the reason for AAPL’s more de-risked valuation is the growth profile: while the Cupertino company is expected to increase EPS by 6% next year, NVIDIA and Adobe should deliver growth of 17% instead.</p><p>The only companies on the list with substantially lower P/E vs. Apple are Intel and Cisco, possibly Broadcom. But considering these companies and their industries’ much less encouraging growth profile, it is understandable that these stocks would trade more cheaply.</p><p>Let’s look beyond P/E. On a price-to-FCF (free cash flow) basis, Apple’s 25.6 times multiple seems even cheaper compared to the peer group. Only Broadcom and Cisco, at about 16 times, look substantially more de-risked.</p><p>Apple’s cash flow-based valuation metrics look good because the Cupertino company is particularly competent at turning earnings into hard cash. Tight control of working capital and capex is probably what best supports the argument.</p><p>Lastly, notice how Apple looks quite overvalued on a price-to-book basis. A multiple of 46.1 times, in fact, is an eye sore compared to Salesforce.com’s 3.0 times and Intel’s 1.4 times.</p><p>But here, the metric is deceivingly distorted. Because Apple buys so many of its shares via stock buybacks, the company’s equity size has been shrinking quickly over the years – which is not a bad thing at all. Since equity is the denominator in the P/B ratio, the multiple understandably looks too rich, on the surface.</p><p><b>My views on AAPL’s valuation</b></p><p>I still believe that Apple’s valuations are far from being a bargain. But at the same time, once I look at the peer group comparison, I find it hard to side with the bears as well. To me, AAPL’s P/E is fair and consistent with the robust business fundamentals of the company.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Apple Stock: Is It 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\">\nApple Stock: Is It Overvalued?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-25 15:45 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.thestreet.com/apple/stock/is-apple-stock-overvalued-what-the-peer-comparison-says><strong>TheStreet</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>One of the main pillars of the bearish thesis on Apple stock is the rich valuation. But compared to the peer group, maybe AAPL is not so pricey after all.Apple stock is considered a buy by the ...</p>\n\n<a href=\"https://www.thestreet.com/apple/stock/is-apple-stock-overvalued-what-the-peer-comparison-says\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAPL":"苹果"},"source_url":"https://www.thestreet.com/apple/stock/is-apple-stock-overvalued-what-the-peer-comparison-says","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1155224332","content_text":"One of the main pillars of the bearish thesis on Apple stock is the rich valuation. But compared to the peer group, maybe AAPL is not so pricey after all.Apple stock is considered a buy by the majority of analysts that cover the name. According to TipRanks, more than 80% of Wall Street experts think that owning shares is a good idea, while only one analyst has a sell rating on the stock.Among skeptics, one of the main arguments against owning AAPL is the elevated P/E ratio. But a closer look at the peer comparison suggests that Apple stock may be more affordable than many seem to believe.Figure 1: Is Apple Stock Overvalued? What The Peer Comparison SaysApple’s valuations: fair, too rich, or a bargain?The following graph probably explains why so many value investors are cautious about Apple stock today. Notice what has happened to AAPL’s price-to-earnings (or P/E) ratio over the past 10 years:Figure 2: Apple's valuation.Starting a couple of years after the launch of the original iPad, Apple’s P/E fluctuated between 10 and 20 times for a few years. Then, beginning in 2019, the valuation multiple skyrocketed to as high as 44 times early last year, settling now to just below 30 times.The multiple expansion happened for a few reasons, the most relevant of which was probably Apple’s business model shift to higher-margin and more predictable services. The post-iPhone X success of Apple’s smartphone segment, along with the company’s generous cash return policy, probably helped too.But tech companies, especially those in high growth stages of their lifecycles or whose “moats” are considered wide, tend to command high P/Es. Take a look at the following table comparing some of Apple’s key valuation metrics with those of peers selected by Stock Rover:Figure 3: Apple peers key valuation metrics selected by Stock Rover.Starting with P/E, in the sixth column, notice how AAPL’s 27.6 times is actually much lower than NVIDIA’s 46.1 and Adobe’s 40.1 times, for example. Part of the reason for AAPL’s more de-risked valuation is the growth profile: while the Cupertino company is expected to increase EPS by 6% next year, NVIDIA and Adobe should deliver growth of 17% instead.The only companies on the list with substantially lower P/E vs. Apple are Intel and Cisco, possibly Broadcom. But considering these companies and their industries’ much less encouraging growth profile, it is understandable that these stocks would trade more cheaply.Let’s look beyond P/E. On a price-to-FCF (free cash flow) basis, Apple’s 25.6 times multiple seems even cheaper compared to the peer group. Only Broadcom and Cisco, at about 16 times, look substantially more de-risked.Apple’s cash flow-based valuation metrics look good because the Cupertino company is particularly competent at turning earnings into hard cash. Tight control of working capital and capex is probably what best supports the argument.Lastly, notice how Apple looks quite overvalued on a price-to-book basis. A multiple of 46.1 times, in fact, is an eye sore compared to Salesforce.com’s 3.0 times and Intel’s 1.4 times.But here, the metric is deceivingly distorted. Because Apple buys so many of its shares via stock buybacks, the company’s equity size has been shrinking quickly over the years – which is not a bad thing at all. Since equity is the denominator in the P/B ratio, the multiple understandably looks too rich, on the surface.My views on AAPL’s valuationI still believe that Apple’s valuations are far from being a bargain. But at the same time, once I look at the peer group comparison, I find it hard to side with the bears as well. To me, AAPL’s P/E is fair and consistent with the robust business fundamentals of the company.","news_type":1},"isVote":1,"tweetType":1,"viewCount":229,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9995613386,"gmtCreate":1661467182747,"gmtModify":1676536522041,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"OK","listText":"OK","text":"OK","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9995613386","repostId":"1156244664","repostType":4,"isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996276182,"gmtCreate":1661181381148,"gmtModify":1676536468835,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$</a>.","listText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$</a>.","text":"$Futu Holdings Limited(FUTU)$.","images":[{"img":"https://community-static.tradeup.com/news/b0a2b2b1fa9a163a529ccc207999b061","width":"1080","height":"1864"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996276182","isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9996238352,"gmtCreate":1661174306879,"gmtModify":1676536466758,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996238352","repostId":"2261515660","repostType":4,"isVote":1,"tweetType":1,"viewCount":112,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996238079,"gmtCreate":1661174296994,"gmtModify":1676536466752,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996238079","repostId":"2261515660","repostType":4,"isVote":1,"tweetType":1,"viewCount":129,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996231745,"gmtCreate":1661174261088,"gmtModify":1676536466751,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996231745","repostId":"1131675942","repostType":4,"repost":{"id":"1131675942","kind":"news","pubTimestamp":1661161126,"share":"https://ttm.financial/m/news/1131675942?lang=&edition=fundamental","pubTime":"2022-08-22 17:38","market":"us","language":"en","title":"Buying the Dip: Here are Top 5 Stocks Hedge Funds Bought the Most","url":"https://stock-news.laohu8.com/highlight/detail?id=1131675942","media":"TipRanks","summary":"Story HighlightsThis article ranks the top five stocks bought by hedge fund managers in the last thr","content":"<div>\n<p>Story HighlightsThis article ranks the top five stocks bought by hedge fund managers in the last three months. As hedge funds tend to outperform the average market returns, keeping a tab on hedge fund...</p>\n\n<a href=\"https://www.tipranks.com/news/article/buying-the-dip-here-are-top-5-stocks-hedge-funds-bought-the-most\">Web Link</a>\n\n</div>\n","source":"lsy1606183248679","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>Buying the Dip: Here are Top 5 Stocks Hedge Funds Bought the Most</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\">\nBuying the Dip: Here are Top 5 Stocks Hedge Funds Bought the Most\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-22 17:38 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.tipranks.com/news/article/buying-the-dip-here-are-top-5-stocks-hedge-funds-bought-the-most><strong>TipRanks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Story HighlightsThis article ranks the top five stocks bought by hedge fund managers in the last three months. As hedge funds tend to outperform the average market returns, keeping a tab on hedge fund...</p>\n\n<a href=\"https://www.tipranks.com/news/article/buying-the-dip-here-are-top-5-stocks-hedge-funds-bought-the-most\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.tipranks.com/news/article/buying-the-dip-here-are-top-5-stocks-hedge-funds-bought-the-most","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1131675942","content_text":"Story HighlightsThis article ranks the top five stocks bought by hedge fund managers in the last three months. As hedge funds tend to outperform the average market returns, keeping a tab on hedge fund trading activity can help investors identify those stocks that are more likely to outrank others.Hedge funds are known for beating the average market returns. Thus, keeping a tab on which stocks hedge funds are buying becomes important. With several top stocks trading at a significant discount from their highs, let’s leverage TipRanks’ Hedge Fund Trading Activity tool (it uses data from Form 13-F to offer hedge fund signals) to look at the top five stocks that hedge fund managers bought the most in the last three months.What are the Most Popular Hedge Fund Stocks?Here are the Top 5 Most Bought Stocks:Evelo Biosciences (NASDAQ:EVLO)Rank: #5Number of Shares Bought By Hedge Funds: 27.4MEvelo Biosciences is a clinical-stage biotech company focused on developing orally delivered products for treating inflammatory diseases and cancer. EVLO stock is down about 57% year-to-date. The equity dilution from issuing new shares is the primary reason behind the significant decline in EVLO stock.TipRanks’ Hedge Fund Trading Activity tool shows that hedge funds bought 27.4M EVLO stock last quarter. Noubar Afeyan of Flagship Pioneering accumulated EVLO stock on the pullback.EVLO stock has received two Buy recommendations for a Moderate Buy rating consensus. Further, the average price target of $10 implies 286.10% upside potential. EVLO stock has a Neutral Smart Score of 4 out of 10.Cazoo Group (NYSE:CZOO)Rank: #4Number of Shares Bought By Hedge Funds: 28.5MCazoo Group is an online car retailer across the UK and Europe. CZOO stock has witnessed one of the worst falls and is down about 89% year-to-date. Hedge fund managers used this massive dip to accumulate the stock.According to TipRanks’ Hedge Fund Trading Activity tool, hedge funds bought 28.5M CZOO shares last quarter. Pelham Capital’s Charles Hadyn Cunningham invested in CZOO stock. Meanwhile, Greenvale Capital’s Bruce Emery increased his holding.While CZOO stock has a positive signal from hedge funds, analysts remain sidelined. CZOO stock has received one Buy and three Hold recommendations for a Hold rating consensus. Further, the average price target of $1.58 implies 136.35% upside potential. Overall, CZOO stock has a Neutral Smart Score of 7 out of 10.General Electric Company (NYSE:GE)Rank: #3Number of Shares Bought By Hedge Funds: 30.8MGeneral Electric is a multinational conglomerate with businesses across various sectors, including renewable energy, aviation, power, and healthcare. GE stock is down about 18% year-to-date. Meanwhile, hedge funds used the weakness in GE stock to build their positions.TipRanks’ Hedge Fund Trading Activity tool shows that hedge funds bought 30.8M GE stock last quarter. Several hedge fund managers, including Bridgewater Associates’ Ray Dalio, Gotham Asset Management’s Joel Greenblatt, and Pzena Investment Management’s Richard Pzena increased their holdings in GE stock. Meanwhile, two hedge fund managers took a new position in GE stock.GE stock has received nine Buy and five Hold recommendations for a Moderate Buy rating consensus. Moreover, analysts’ average price target of $86.31 implies 11.05% upside potential. What’s more, GE stock sports a maximum Smart Score of 10.Ginkgo Bioworks (NYSE:DNA)Rank: #2Number of Shares Bought By Hedge Funds: 31.9MGinkgo Bioworks is a biotech company that offers a platform to program cells with broad industrial applications. While DNA’s business is growing rapidly, its stock has declined about 66% year-to-date.Hedge fund managers used this dip to acquire DNA stock in the last three months. Per the TipRanks’ Hedge Fund Trading Activity tool, hedge funds bought 31.9M DNA shares. ARK Investment Management’s Catherine Wood and Bridgewater Associates’ Ray Dalio took a new position in the stock. Meanwhile, Gotham Asset Management’s Joel Greenblatt increased his holding in DNA stock.DNA stock has received four Buy recommendations for a Strong Buy rating consensus. Moreover, analysts’ average price target of $9.21 implies 223.16% upside potential. While analysts’ price target shows significant upside, DNA stock has a Neutral Smart Score of 7 out of 10.Warner Bros. Discovery (NASDAQ:WBD)Rank: #1Number of Shares Bought By Hedge Funds: 87.4MWarner Bros. Discovery is a leading global media and entertainment company. It owns some of the most iconic media and entertainment brands, including Discovery Channel, CNN, DC, and HBO. However, challenges following the Discovery merger continue to hurt its stock, which is down about 42% year-to-date.Capitalizing on this dip in price, hedge funds have accumulated WBD stock. According to TipRanks’ Hedge Fund Trading Activity, hedge funds bought 87.4M WBD stock last quarter.Several hedge fund managers, including Bridgewater Associates’ Ray Dalio, took a new position in WBD stock. Meanwhile, Erica Lau of North Growth Management increased the holding in WBD stock.WBD stock has received seven Buys, seven Holds, and one Sell recommendation for a Moderate Buy rating consensus. Moreover, analysts’ average price target of $25.62 implies 86.60% upside potential. WBD stock also has an Outperform Smart Score of 8 out of 10.Bottom LineHedge fund managers accumulating stocks on the dip represents a positive signal. Besides tracking the buying activities, investors can also use TipRanks’ Top Hedge Fund Managers tool to discover the performance and ranking of hedge funds.Meanwhile, investors could also leverage TipRanks’ other valuable tools to know about analysts’ recommendations, investor sentiment, and insider signal to make an informed investment decision.Built with the help of TipRanks’ Stock Comparison tool, here is the summary of how these stocks stack up on TipRanks’ valuable datasets.Continue to watch this space to keep a tab on hedge fund trading 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17:57","market":"us","language":"en","title":"Worried About the End of the Summer Rally? Inverse ETFs to Tap","url":"https://stock-news.laohu8.com/highlight/detail?id=1156244664","media":"Zacks","summary":"The Dow Jones Industrial Average fell 640 points on Monday, marking its worst day since June (per CN","content":"<html><head></head><body><p>The Dow Jones Industrial Average fell 640 points on Monday, marking its worst day since June (per CNBC), as the summer rally faded and fears of faster interest rate hikes returned to Wall Street.The Fed will likely hike rates by 50 basis points in September amid higher inflation and growing recession worries, according to economists in a Reuters poll.</p><p>Traders are now pricing in around a 46.5% chance of a 75-basis-point rate hike in September and a 53.5% chance of a 50-bp increase following recent hawkish remarks from Fed officials.The dollar jumped to a more than one-month high against its rivals.</p><p>The Nasdaq, which is high-growth in nature and underperforms in a rising rate environment, dropped 2.6% on Monday. Monday&#39;s losses marked the biggest two-day declines for the Nasdaq and the S&amp;P 500 since June. For the S&amp;P 500, Monday indicated the index&#39;s largest decline since June 16, the day which marked the market&#39;s most recent bottom, per a yahoo finance article.</p><p>Last week, the major averages snapped their winning streaks for the first time in four weeks, in fact, snapping their longest weekly winning streak since November 2021. WTI crude oil futures have also been volatile, with crude falling below $87 a barrel on Monday morning. However, news of possible production cuts from Saudi Arabia pushed crude back towards $90 a barrel later on.</p><p>Against this backdrop, below we highlight a few inverse ETFs that could be useful in the current scenario.</p><p><b>ETFs in Focus</b></p><p><b>ProShares Short S&amp;P500 (SH)</b></p><p>The ProShares Short S&amp;P500 seeks daily investment results, before fees and expenses, that correspond to the inverse or opposite of the daily performance of the S&amp;P500. The fund charges 88 bps in fees.</p><p><b>Direxion Daily S&amp;P 500 Bear 1x Shares (SPDN)</b></p><p>The Direxion Daily S&amp;P 500 Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the performance of the S&amp;P 500 Index. The fund charges 49 bps in fees.</p><p><b>ProShares UltraShort S&amp;P500 (SDS)</b></p><p>The ProShares UltraShort S&amp;P500 seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&amp;P 500. The fund charges 90 bps in fees.</p><p><b>ProShares UltraPro Short S&amp;P500 (SPXU)</b></p><p>The ProShares UltraPro Short S&amp;P500 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the inverse (opposite) of the daily performance of the S&amp;P 500. The fund charges 90 bps in fees.</p><p><b>Direxion Daily S&amp;P 500 Bear 3X Shares (SPXS)</b></p><p>The ProShares UltraPro Short S&amp;P500 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the inverse (opposite) of the daily performance of the S&amp;P 500. The fund charges 90 bps in fees.</p><p><b>ProShares Short Russell2000 (RWM)</b></p><p>The ProShares Short Russell2000 seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Russell 2000 Index. The fund charges 95 bps in fees.</p><p><b>ProShares Short Dow30 (DOG)</b></p><p>ProShares Short Dow30 seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Dow Jones Industrial Average Index. The fund charges 95 bps in fees.</p><p><b>ProShares UltraPro Short QQQ (SQQQ)</b></p><p>The ProShares UltraPro Short QQQ seeks daily investment results, before fees and expenses, that correspond to triple the inverse of the daily performance of the NASDAQ-100 Index. The fund charges 95 bps in fees.</p><p><b>ProShares Short QQQ (PSQ)</b></p><p>The ProShares Short QQQ seeks daily investment results, before fees and expenses, that correspond to the inverse of the daily performance of the NASDAQ-100 Index. The fund charges 95 bps in fees.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Worried About the End of the Summer Rally? Inverse ETFs to Tap</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\">\nWorried About the End of the Summer Rally? Inverse ETFs to Tap\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-25 17:57 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zacks.com/stock/news/1971531/summer-rally-ended-inverse-etfs-to-tap?-inverse-etfs-to-tap-><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Dow Jones Industrial Average fell 640 points on Monday, marking its worst day since June (per CNBC), as the summer rally faded and fears of faster interest rate hikes returned to Wall Street.The ...</p>\n\n<a href=\"https://www.zacks.com/stock/news/1971531/summer-rally-ended-inverse-etfs-to-tap?-inverse-etfs-to-tap-\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SDS":"两倍做空标普500ETF","SH":"标普500反向ETF","SPXU":"三倍做空标普500ETF","DOG":"道指反向ETF","PSQ":"纳指反向ETF","RWM":"罗素2000指数反向ETF","SPDN":"Direxion Daily S&P 500 Bear 1x Shares","SPXS":"Direxion每日三倍做空标普500ETF","SQQQ":"纳指三倍做空ETF"},"source_url":"https://www.zacks.com/stock/news/1971531/summer-rally-ended-inverse-etfs-to-tap?-inverse-etfs-to-tap-","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1156244664","content_text":"The Dow Jones Industrial Average fell 640 points on Monday, marking its worst day since June (per CNBC), as the summer rally faded and fears of faster interest rate hikes returned to Wall Street.The Fed will likely hike rates by 50 basis points in September amid higher inflation and growing recession worries, according to economists in a Reuters poll.Traders are now pricing in around a 46.5% chance of a 75-basis-point rate hike in September and a 53.5% chance of a 50-bp increase following recent hawkish remarks from Fed officials.The dollar jumped to a more than one-month high against its rivals.The Nasdaq, which is high-growth in nature and underperforms in a rising rate environment, dropped 2.6% on Monday. Monday's losses marked the biggest two-day declines for the Nasdaq and the S&P 500 since June. For the S&P 500, Monday indicated the index's largest decline since June 16, the day which marked the market's most recent bottom, per a yahoo finance article.Last week, the major averages snapped their winning streaks for the first time in four weeks, in fact, snapping their longest weekly winning streak since November 2021. WTI crude oil futures have also been volatile, with crude falling below $87 a barrel on Monday morning. However, news of possible production cuts from Saudi Arabia pushed crude back towards $90 a barrel later on.Against this backdrop, below we highlight a few inverse ETFs that could be useful in the current scenario.ETFs in FocusProShares Short S&P500 (SH)The ProShares Short S&P500 seeks daily investment results, before fees and expenses, that correspond to the inverse or opposite of the daily performance of the S&P500. The fund charges 88 bps in fees.Direxion Daily S&P 500 Bear 1x Shares (SPDN)The Direxion Daily S&P 500 Bear 1X Shares seeks daily investment results, before fees and expenses, of 100% of the inverse (or opposite) of the performance of the S&P 500 Index. The fund charges 49 bps in fees.ProShares UltraShort S&P500 (SDS)The ProShares UltraShort S&P500 seeks daily investment results, before fees and expenses, that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500. The fund charges 90 bps in fees.ProShares UltraPro Short S&P500 (SPXU)The ProShares UltraPro Short S&P500 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the inverse (opposite) of the daily performance of the S&P 500. The fund charges 90 bps in fees.Direxion Daily S&P 500 Bear 3X Shares (SPXS)The ProShares UltraPro Short S&P500 seeks daily investment results, before fees and expenses, that correspond to triple (300%) the inverse (opposite) of the daily performance of the S&P 500. The fund charges 90 bps in fees.ProShares Short Russell2000 (RWM)The ProShares Short Russell2000 seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Russell 2000 Index. The fund charges 95 bps in fees.ProShares Short Dow30 (DOG)ProShares Short Dow30 seeks daily investment results, before fees and expenses, that correspond to the inverse (opposite) of the daily performance of the Dow Jones Industrial Average Index. The fund charges 95 bps in fees.ProShares UltraPro Short QQQ (SQQQ)The ProShares UltraPro Short QQQ seeks daily investment results, before fees and expenses, that correspond to triple the inverse of the daily performance of the NASDAQ-100 Index. The fund charges 95 bps in fees.ProShares Short QQQ (PSQ)The ProShares Short QQQ seeks daily investment results, before fees and expenses, that correspond to the inverse of the daily performance of the NASDAQ-100 Index. The fund charges 95 bps in fees.","news_type":1},"isVote":1,"tweetType":1,"viewCount":105,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9991692161,"gmtCreate":1660822152256,"gmtModify":1676536405269,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$</a>give like&nbsp;","listText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$</a>give like&nbsp;","text":"$Futu Holdings Limited(FUTU)$give like","images":[{"img":"https://community-static.tradeup.com/news/0c45fd61c09b07ab07f2d8dd93b2a151","width":"1080","height":"1959"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9991692161","isVote":1,"tweetType":1,"viewCount":27,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9991089499,"gmtCreate":1660748566312,"gmtModify":1676536391461,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9991089499","repostId":"1145675545","repostType":4,"repost":{"id":"1145675545","kind":"news","pubTimestamp":1660742957,"share":"https://ttm.financial/m/news/1145675545?lang=&edition=fundamental","pubTime":"2022-08-17 21:29","market":"us","language":"en","title":"AMC’s CEO Will Do Whatever It Takes to Keep His Company a Meme Forever","url":"https://stock-news.laohu8.com/highlight/detail?id=1145675545","media":"Bloomberg","summary":"For most movie fans, their dream selfie with a Hollywood star never quite materializes. But on a Fri","content":"<html><head></head><body><p><img src=\"https://static.tigerbbs.com/60d6c00a61a62e50a7c0c72dd49d67cc\" tg-width=\"1400\" tg-height=\"1050\" referrerpolicy=\"no-referrer\"/></p><p>For most movie fans, their dream selfie with a Hollywood star never quite materializes. But on a Friday night in June, Bruce and Deborah Cooke spotted one of their favorite movie heroes, just feet away. They moved in and asked for a photo.</p><p>Adam Aron, the chairman and chief executive officer ofAMC Entertainment Holdings Inc., greeted the couple warmly, making small talk as they arranged themselves for the camera. Bruce was dressed in slacks and a button-down. Deborah wore a striking green dress. “I put my arm around you, I go to jail,” Aron, who’s 67, playfully said to Deborah, who’s 55. Everyone laughed.</p><p>Three days earlier, Aron had announced on Twitter that he would personally be hosting a screening of Pixar’s new movie,<i>Lightyear</i>, at an AMC theater in Olathe, Kan. The Cookes, who together own a small mortgage company in Sacramento, had vowed on the spot to make the pilgrimage to Kansas.</p><p><img src=\"https://static.tigerbbs.com/26d2f8d2a68830ff364ec91c9beb7be7\" tg-width=\"600\" tg-height=\"800\" referrerpolicy=\"no-referrer\"/>The entire AMC saga meant so much to them. During the onset of the pandemic, when movie theaters were hastily shuttered, they bought their first batch of AMC stock. Moviegoing, they believed, would eventually bounce back. Plus, they thought it was cruel that a subset of investors were trying to force the company into bankruptcy. So the Cookes joined a legion of outsider traders, loosely organized on the Reddit forumr/wallstreetbets, who were swarming to AMC’s down-and-out stock, driving up its share price and sticking it to the skeptical short sellers and hedge funds betting big on the company’s failure. The Cookes recruited their loved ones to join them. “We got a lot of friends involved,” Deborah says.</p><p>On social media, people started calling their pugnacious tribe theAMC Apes, as in<i>Planet of the Apes</i>, the movie about a primate uprising. By Wall Street standards, they might be primitive, but they possessed power in numbers.</p><p>Better yet, they had a fearless leader atop AMC, an alpha CEO who grunted and roared on Twitter, throwing feces, so to speak, at their enemies (recurring hashtag: #LetThemEatCrow) and beating his chest every time a movie performed well at the box office (#CHOKEonTHAT). Aron hired Nicole Kidman tostar in several AMC promotionsand bellowed tirelessly about her bravura performance, dubbing the glamorous actor “the first lady of AMC.” The whole thing had a King-Kong-palming-a-fair-maiden vibe. The Apes were ecstatic.</p><p>Now, after a flight to Dallas, a four-hour drive to Tulsa, a break for the night, several more hours on the road, and another respite at a crummy hotel, the Cookes were right where they wanted to be, standing loyally at the Silverback’s side. After capturing their trophy shot, the California couple took their seats. With a few minutes left before the start of the previews, the place was far from full—a slightly ominous development, which the Cookes would later chalk up to “the bad guys,” aka the hedge funds, who they suspected had snapped up tickets and let them go unused to make AMC look bad. Anything to drive down the company’s share price. “There’s no telling what [they] will do,” Deborah says.</p><p>“He creates a sound, a song, a whistle from his pipe that will cause people to gravitate preferentially to whatever business in the sector that he is running”</p><p>At the front of the theater, Aron got up, gave a shoutout to the Apes, and acknowledged that the pandemic had been difficult. But the vaccines were working. Movies were storming back. “Our investors are passionate,” he said. “They like AMC as a company. They don’t think I’m that bad either. But most of all, they really want to see movie theaters survive.”</p><p>At first glance, Aron, who became CEO of AMC in 2016, might not seem like a natural candidate to lead a successful investor insurgency. For much of his career he worked as a well-compensated turnaround artist, the kind of mercenary operator with the right pedigree (Harvard Business School) and right demeanor (bombastically self-assured) who gets hired to fix up a faltering company and maybe sell it off at a nice markup. If anything, Aron seemed like a well-sharpened tool of the Wall Street establishment, not of the internet masses.</p><p>But the pandemic shook up the entertainment cosmos and exposed a surprising lack of leadership in Hollywood. Amid all the halted productions and scrambled release schedules, everyone looked around for somebody to rally the American people behind the movie industry. When no compelling candidates emerged from the studios or the streaming services, Aron charged headlong into the void.</p><p>He’s spent his entire career perfecting the art of stunt marketing and the science of customer loyalty programs. Ideal training, in other words, for this weird new zeitgeist in the business world, one that favors combative, incautious, performative CEOs (see:Musk, Elon) who can draw loyal swarms of fans online and compel them to buy their products, pump up their stock price, and troll their critics. “He has an almost Pied Piper-ish ability to attract people,” says Darryl Hartley-Leonard, former CEO of Hyatt Hotels Corp., who hired Aron at Hyatt in the 1980s. “He creates a sound, a song, a whistle from his pipe that will cause people to gravitate preferentially to whatever business in the sector that he is running.”</p><p>With AMC, that whistle has taken the form of meme-y membership schemes, free-for-all earnings calls, acomical stock ticker (APE), and the bizarre acquisition of a72,000-acre gold mine. Having narrowly navigated the company through the dark days of the early pandemic and taken his followers with him on a Hollywood blockbuster-worthy ride, Aron is now facing a much more fundamental challenge: holding the entire rickety, debt-laden enterprise together during a time of rising inflation, falling stocks, accelerating economic pressure, and a troop of Apes that might finally be questioning its alpha.<img src=\"https://static.tigerbbs.com/20522e4c8b6fbdb61e5f3ebad3fe7c6b\" tg-width=\"650\" tg-height=\"348\" referrerpolicy=\"no-referrer\"/></p><p>Mission control for Aron isn’t Los Angeles or New York or even Las Vegas.AMC’s headquartersis in Kansas. The offices are housed in a sleek, glass-clad structure in Leawood, a prosperous suburb of Kansas City. The heart of the building is an open, spacious “test seating area” that doubles as a gathering spot. Throughout the workday, staffers can grab a snack and watch whatever is playing on its jumbo screen, from the latest Hollywood trailers to an afternoon Royals game.</p><p>Beginning in 2016, employees would occasionally glance up and see cable news channels airing live interviews with their new CEO, who’d arrived right after fixing up and selling off Starwood Hotels &amp; Resorts Worldwide.</p><p>Aron typically shows up at a company looking as thoroughly distressed as the properties he’s swooping in to save. The strands of his comb-over meander across his head, sometimes losing a few stragglers en route. His wardrobe, friends and former colleagues note, is remarkably beaten up for a multimillionaire executive. Even on a sunny day, he can look like a man who just parachuted in through a tempest: suit wrinkled, tie stained, shirttail flapping in the wind.</p><p>When Aron took over AMC, the entire theater business was facing mounting pressure. Shopping malls, which had long enjoyed a rich, symbiotic relationship with AMC multiplexes, were losing customers to online retail, jeopardizing foot traffic to ticket booths. Meanwhile, American viewers were growing increasingly enchanted with streaming networks such as Netflix.</p><p>Not long after joining the company, Aron met with Wang Jianlin, head of the Dalian Wanda Group, a Chinese conglomerate, then the majority owner of AMC. He proceeded to show Wang a list he’d drawn up of 10 things to better position AMC for the future. One idea was to revamp its customer loyalty program, AMC Stubs. Another was to expand the company through acquisitions. Wang particularly liked the notion of supersizing AMC.</p><p>Aron soon embarked on a $3 billion buying spree, snapping up three major theater chains in the US and Europe. By the spring of 2017 he’d made AMC into a colossus, with more than 10,000 screens in 15 countries. Aron—who has a professional wrestling promoter’s penchant for speaking in grandiose, history-in-the-making superlatives—could now brag about AMC on a planetary scale. “The largest in the US, the largest in Europe, and the largest globally,” he says.</p><p>He threw himself into every aspect of the operations, spiffing up the company’s pre-movie promos; stiff-arming a startup,MoviePass Inc., that was elbowing into the loyalty rewards market for moviegoers; and flavor-jamming AMC’s food menu with the kind of flamboyance thatGuy Fierimight relish. Before long, Aron was touting AMC’s giant new pretzel, a salty 1.5-pound behemoth dubbed the Bavarian Legend.</p><p><img src=\"https://static.tigerbbs.com/b60a0ecf9ad876f2376ae392e6e04605\" tg-width=\"600\" tg-height=\"899\" referrerpolicy=\"no-referrer\"/>Aron at AMC’s headquarters in Leawood, Kan.Photographer: Shawn Brackbill for Bloomberg Businessweek</p><p>Although he was a relative newbie to the film industry, Aron had popcorn in his blood. In the 1930s his grandfather, a convivial, politically connected businessman, co-founded a successful company called Berlo Vending. Among other things, Berlo sold all the popcorn in all the movie theaters of eastern Pennsylvania. “By the time I came around, whatever family fortune there was had pretty much been squandered,” says Aron, who grew up in a middle-class Philadelphia suburb.</p><p>Like his father, an ad man who regularly acted in an amateur theater troupe, Aron gravitated to the spotlight. By high school he was a math whiz, hockey goalie, and hammy stage performer. His comedic speeches playing up the life-altering sacrifices he’d made on behalf of his classmates won him the office of class treasurer twice. Once, as president of his high school’s Key Club, he organized a fundraiser basketball game that went on for 100 straight hours—which, according to Aron, set a Guinness World Record. When he discovered a catalog that sold slightly aged Hollywood film reels by mail, he rallied friends to construct a plywood screen in their school’s auditorium, where they charged for showings of<i>Butch Cassidy and the Sundance Kid</i>,<i>Cool Hand Luke</i>, and, of course,<i>Planet of the Apes</i>. The money poured into the coffers of the senior class. “What he was like then is what he is like now,” says Aron’s high school buddy Ashton Carter, who decades later would serve as secretary of defense under Barack Obama. “He could always convince a diverse group of people to get behind his vision.”</p><p>After graduating from Harvard in three years, Aron stayed to get his MBA. He studied marketing, was elected co-president of the school’s transportation club, and was captain of the hockey team. While many of his peers beelined for the riches of Wall Street, he took a job with the airline Pan Am, which by 1979 was well past its glory years. A top executive, Stephen Wolf, was looking for someone who could create more loyalty among the airline’s dwindling customers. “The problem is that anybody who was semi-young and had half a brain had sensibly and correctly left Pan Am long ago,” recalls Wolf, who went on to become CEO of United Airlines. “I found Adam in the bowels of the organization somewhere.”</p><p>Aron concocted Pan Am’s first frequent-flyers club and suddenly found himself on the fast track. He’d go on to create or reengineer loyalty programs for Western Airlines (TravelPass); Hyatt Hotels (Gold Passport); United Airlines (MileagePlus); Norwegian Cruise Line (NCL Latitudes); Vail Resorts (Peaks); the Philadelphia 76ers (the Franklin Club)—and, eventually, AMC (Stubs). “Adam is a pioneer of loyalty management,” says high school pal Jeffrey Sonnenfeld, now a professor at the Yale School of Management.</p><p>In the late ’80s, Hyatt Hotels CEO Hartley-Leonard hired Aron to serve as a top marketing executive. “When he came in, he really was the most disheveled human being that you’d ever seen,” Hartley-Leonard says. “The problem with Adam is that his body is deformed such that his shirt doesn’t stay in his trousers.” Aron proved to be an unusually crafty marketer who generated ideas nonstop for winning over customers from rivals and for garnering free publicity, says his former boss. He also periodically mesmerized his colleagues with stunts, like the time he floated into an executive meeting on a custom-made dirigible. “Jay Pritzker [whose family owned Hyatt] turned to me and said, ‘What the f--- did this cost?’ ” Hartley-Leonard recalls. “I said, ‘Leave Adam alone. That’s who he is.’ ”</p><p>In 1996, Apollo Global Management Inc. was in the market for someone to turn around Vail Resorts, the ski resort operator. By the time Aron left that job 10 years later, he’d diversified the company’s business model and more than quintupled revenue. “Vail was transformative,” says Marc Rowan, Apollo’s billionaire CEO. “He did an unbelievable job.”</p><p>So much so that when Rowan’s partner, billionaire Apollo co-founder Joshua Harris, led a group of investors to acquire middling NBA team the 76ers in 2011, they installed Aron, a minority owner, to usher in a franchise turnaround. Of course, his first order of business was a barrage of promotional schemes. He made the team’s dance squad larger. He added Julius Erving as a consultant. He showered fans in confetti. And even though he’d step aside as CEO only two years later following another lousy season, he still left an Aron-shaped imprint on the franchise:“Big Bella,”the world’s largest T-shirt launcher, a cartoonishly massive, 600 pound, multibarrel leviathan that looks like something Mad Max might have mounted on a battle tank.</p><p><img src=\"https://static.tigerbbs.com/788e4b080973d8a9e6c27d08e72d96b3\" tg-width=\"800\" tg-height=\"534\" referrerpolicy=\"no-referrer\"/>The 2011 press conference to announce Apollo Global Management’s acquisition of the NBA’s Philadelphia 76ers. For two years, Aron was the team’s CEO.Photo: Getty Images</p><p>As the world locked down in 2020, Aron’s acquisition binge looked disastrous. AMC, saddled with $5 billion in debt, was forced to hastily shut down 1,000 theaters worldwide. He furloughed most of roughly 26,000 workers. “You know what they don’t teach in Harvard Business School?” he says. “The zero-revenue case.”</p><p>AMC warned in a filing that it was weeks away from running out of cash. Bankruptcy seemed imminent. But Aron harbored a deep, abiding dislike for what he calls “Bankruptcy Inc.” In his 30s he’d spent months fighting off the vulturous bankruptcy professionals hungrily circling Norwegian Cruise Line. At one point, he recalls indignantly, the CEO of rival Carnival Corp. predicted publicly that Norwegian would file for bankruptcy within months—but it never happened. “I’m very pleased to have proven him wrong,” Aron says.</p><p>Seven months into the pandemic, there were whispers on Wall Street and in the press that AMC could be filing for Chapter 11 any day. Aron scrambled to buy more time, renegotiating AMC’s rent payments with its landlords and looking for some way to ride out the pandemic disruptions.</p><p>Eventually he found a lifeline in Jason Mudrick, a lantern-jawed, poker-playing graduate of Harvard Law School, who runs Mudrick Capital Management LP, a $3.4 billion hedge fund specializing in distressed businesses. Unlike financial advisers and lawyers who make money on fees when a bankruptcy is filed, Mudrick’s firm loans money to companies facing near-death circumstances. If the company recovers, the capital is repaid handsomely. If not, the fund can seize collateral or control. In December 2020, Mudrick loaned AMC $100 million, receiving an equity stake in return. Other lenders followed.</p><p>News of the loans reached retail investors just as a strange new energy began coursing through Wall Street. Thanks to some combustible mix of pandemic-induced boredom, intemperance, and ingenuity, the meme-stock phenomenon was taking off. Day traders on Reddit were identifying downtrodden, heavily shorted stocks, then piling in collectively, pushing up the share price, and hyping the frenzy on social media to rope in more buyers. It had already happened with GameStop Corp.</p><p>Then it was AMC’s turn. From January to early June it soared from $2 to more than $62. Along the way, Aron seized on the freakish moment by issuing new equity at the heightened prices, replenishing AMC’s coffers.</p><p>By June 2021, 4 million retail investors had bought up more than 80% of the company’s shares. Aron knew from his years optimizing stunts and membership schemes that first you capture their attention, then you get them hooked. “It was just as true with our shareholders in the year 2021 as it was with airline passengers in 1981,” he says. So he designed a program that bridged the meme world with the real one: Buying AMC’s stock would get you movie-related perks.</p><p>With AMC Investor Connect, after purchasing the company’s shares and signing up for its existing Stubs rewards program, you’d be given access to discounts at theaters, invitations to movie screenings with Aron, and a free tub of popcorn. The new program may have seemed gauche to the traditional Wall Street crowd, but it gave an air of exclusivity to everyman investors, even if the benefits were fairly silly. By 2022 the program would swell to more than 700,000 members.</p><p>Aron with Kidman, whom he describes as “the first lady of AMC.”Source: Adam Aron</p><p>Meanwhile, Aron began doubling down on his new AMC persona. Dating back to his time with the 76ers, he’d been an active social media user, albeit with fewer followers and more mishaps. At an investor roundtable last year, he was briefly caught on Zoom untrousered, according to a participant. In June 2021 he was doing a remoteinterview with a YouTube market influencerwhen he accidentally bumped his webcam, which swiveled downward to reveal that, once again, he wasn’t wearing pants. Some AMC fans speculated that the YouTube incident was another one of Aron’s public-relations stunts. When asked about it, Aron declined to comment. “I would be the first to admit that I can be iconoclastic,” he says.</p><p>As his audience grew, he’d spend an hour a day on Twitter, reading feedback from the Apes and crafting truculent messages. He’d quote Winston Churchill on an earnings call—“We shall fight on the beaches, we shall fight on the landing grounds”—or retweet a depiction of himself wearing a chef’s hat, holding a cleaver, and standing over a dead crow. By lacing his act with combative emotion, Aron infused AMC fandom with the kind of fervent personal identification once reserved for political parties and sports teams. Any analyst who’d dare question AMC’s prospects could expect to receive a torrent of online vitriol, even death threats, from hismore than 268,000 Twitter followers.</p><p>While the Apes ate up his bellicose energy, continuing to buy up shares and vowing to hold them long-term, Aron and AMC’s other major investors began looking to cash out. With the stock riding high, everyone from the Dalian Wanda Group to Mudrick Capital to other top AMC executives were either selling off the bulk of their shares or eyeing the exits.</p><p>Aron wasn’t going to let the opportunity pass. He enjoyed the perks of swank living as much as the next scorekeeping CEO, buying and selling over the years a portfolio of luxury properties from Beaver Creek, Colo., to Miami Beach. On Nov. 10, 2021, he revealed that for “estate planning” purposes he was unloading 625,000 AMC shares worth $25 million. The following month, he sold an additional chunk for $9.65 million. The family popcorn fortune, once squandered, was now restored. “Many of his friends went off into consulting and investment banking,” says high school friend Sonnenfeld. “Those people made more money initially. But he’s closed the gap a lot.”</p><p><img src=\"https://static.tigerbbs.com/82b063380f89c7eca208a72fd34d0a9d\" tg-width=\"600\" tg-height=\"800\" referrerpolicy=\"no-referrer\"/>Aron with Mudrick at the Hycroft gold and silver mine in Nevada.</p><p>Around midnight on Sunday, March 13, after landing at a tiny two-runway airport in rural Nevada, Aron headed to a nearby Best Western to catch a few hours of sleep. Several days earlier he’d gotten a call from Mudrick, who pitched him on an opportunity for AMC that had nothing to do with the movie business. Mudrick’s hedge fund owned a stake inHycroft Mining Holding Corp., a struggling operation in northwestern Nevada. To remain solvent, the company needed a quick cash infusion to appease its lenders. He wanted to know if AMC wanted in on a literal gold mine.</p><p>Although Aron was familiar with a long list of industries, mining wasn’t one of them. But he was an expert at financial engineering, not to mention the strange metallurgy of transforming a business crisis into a windfall—and a spectacle. In recent months he’d been toying with diversifying AMC beyond theaters. There were plans to sell movie-themed merchandise, AMC-branded nonfungible tokens (NFTs), and, maybe someday, a branded credit card and cryptocurrency. Already in the works was AMC Perfectly Popcorn, which will be sold in supermarkets across the US next year. “Watch out, Orville Redenbacher,” he said on an earnings call on March 1.</p><p>Aron told Mudrick he was interested. The hedge fund executive explained that they’d have to move fast: They had five days before the cost of the deal would significantly increase. Hycroft’s share price was rising, and Nasdaq rules required Aron to buy his stake at a share price that averaged the previous five days’ trading levels.</p><p>So Mudrick corralled a jet in Teterboro, N.J., flew to Miami, picked up AMC Lead Director Philip Lader, then fetched Aron and AMC’s general counsel, Kevin Connor, who were on a work trip in Dallas. While in the air to Nevada, Mudrick and Aron batted around the numbers and dug into dinner. Mudrick ate a steak. Aron put away a seafood medley.</p><p>Now, at 6 a.m., they arose in the dark at the hotel and set off for the mine. They drove past Winnemucca, a long-in-the-tooth railroad town where Butch Cassidy had once robbed a bank and the cellphone service was abysmal. The sun rose over the Black Rock Desert, a Martian landscape of dry playas and craggy, arid mountains. After two hours they arrived at theHycroft Mine, a dusty archipelagoof geological debris, jumbo trucks, and gaping holes in the ground—a toddler’s idea of heaven. They squeezed into a temporary office, the only place in the vicinity with Wi-Fi. For the next several hours, Aron and Mudrick took turns persuading lenders and board members to approve the sale. They inked the deal with a few minutes to spare.</p><p>On March 15, when Aron announced that AMC was acquiring 22% of the largely dormant mine for $28 million, he got roughly the same reaction he’d triggered years earlier with his dirigible. Jaws dropped. Minds reeled. Somehow a recently distressed movie theater chain, saved by a hedge fund specializing in distressed lending, pumped up by retail investors profiting on distressed stocks, was now part owner of a distressed gold and silver mine, in a water-distressed pocket of the country, on a pandemic-distressed planet. The whole thing felt like a national parable. In America in 2022, distress was the new gold—or maybe fool’s gold. It was hard to say for certain.</p><p>Much of the press and most analysts derided the move as just another gimmick, while others opined that the money should’ve been used to pay down the company’s exorbitant debt. But on Twitter, Aron was busy retweeting memes of himself draped in gold chains. His rationale for the investment, he said: Only two years earlier, AMC was in free fall; now it could deploy everything it learned to another underdog business.</p><p>The loyal Apes followed him into the mineshaft, sending the penny stock sailing and netting AMC a $30 million profit. With the share price soaring, Hycroft took a page from the AMC playbook and offered more equity. Mudrick had initially hoped to raise $20 million. Thanks to the AMC bump, they wound up raising $200 million. Says Mudrick of Aron: “He could convince an Eskimo to buy ice.”</p><p>So what exactly is AMC at this point? A legacy theater chain with a penchant for shiny objects? A precious-metals multiplex exhibitor venture fund?</p><p>Last year, in a magnanimous gesture to the Apes, Aron tweaked the format of AMC’s quarterly earnings calls, allowing consumers to pose questions directly to the company’s brass. The inquiries of amateurs, he says, are often better than the ones from the professionals. “Not to be disrespectful to security analysts, but they often use earnings calls to build their financial models,” he says, segueing into an imitation of a squeaky-voiced analyst posing a tediously small-bore question.</p><p>The stroke of populism has annoyed some of the pros. “These are the most painful calls for me to listen to of any in my career,” says Hunter Martin, an analyst at Creditsights Inc., a research shop. “The rhetoric is … very us vs. them, retail investor and common man. That’s their narrative. To their credit, they’re talking about the things that are important to those people. But it comes at a cost to more traditional investors who want to hear the numbers.”</p><p><b>The Face That Launched a Thousand Memes</b></p><p>Aron’s fans will send him homemade memes of the CEO’s face hacked onto a movie poster, which he praises and tweets to his 268,000 Twitter followers</p><p><img src=\"https://static.tigerbbs.com/32e77d080b7c7f197793148442df6b6d\" tg-width=\"400\" tg-height=\"522\" referrerpolicy=\"no-referrer\"/>Source: Twitter<img src=\"https://static.tigerbbs.com/beabe7f722197aa352c08fde8d207cf2\" tg-width=\"400\" tg-height=\"602\" referrerpolicy=\"no-referrer\"/>Source: TwitterSource: Twitter</p><p>There may be good reason to create some distractions. In a recent report, Bloomberg Intelligence projected that the 2022 domestic box-office numbers will come in at $7.5 billion, a significant boost from 2021’s $4.5 billion—but still just 66% of pre-pandemic levels. Meanwhile, 2022 has been a brutal environment for media companies, whose stock prices have tumbled across the board. The studios that supply AMC with its primary product are all facing potentially severe cutbacks of their own. Keeping the Apes amped won’t be easy. “Regardless of a brighter outlook, we fear that the 4 million-plus retail investors who have driven a 2,000%-plus surge in the stock may flip and eventually cash out, prompting more volatility,” Bloomberg Intelligence noted late last year.</p><p>For much of the summer, AMC’s share price was hovering in the $12 to $17 range. On AMC fan boards, many Apes were itching for a new rally. For months there’d been chatter about the coming Mother of All Short Squeezes—a moment, it was foretold, when the Silverback would once again rear up and smite AMC’s enemies and somehow send the share price back up. As to the timing, everyone dug through the mud of Aron’s tweets looking for buried clues.</p><p>Without any clear signs of action, frustration was evident. At AMC’s annual meeting in June, shareholders rejected the company’s executive pay plan, which in 2021 rewarded Aron with $18.9 million in total compensation. “I don’t think any of them need more money yet,” says Deborah Cooke, the AMC superfan from the Kansas screening.</p><p>Aron shook off the intra-simian setback. During the same annual meeting in June, he told shareholders that AMC would be creating a $100 million fund to invest in other businesses. First came the gold mine; who knows what could be next. “There are a number of things that we looked at that we rejected, either because it wasn’t interesting enough, or there was too much risk, or the financial returns weren’t attractive enough,” he says. “But I’m sure we’ll find other opportunities as we turn over every rock.”</p><p>AMC’s early gains on its Hycroft shares have already all but disappeared as the miner’s stock rally faded, though Aron has said he sees Hycroft as a longer-term investment, to net profits as the mine expands operations.</p><p>So what exactly is AMC at this point? A legacy theater chain with a penchant for shiny objects? A precious-metals multiplex exhibitor venture fund? Or, as Bloomberg Opinion columnistMatt Levine described it this spring, “a merchant bank that helps small companies do meme-driven at-the-market offerings and takes equity for its fee”? Aron sticks with the most anodyne of explanations: “We are a movie theater company that is looking to diversify,” he says.</p><p>In early August, with signs of Ape dissatisfaction still smoldering online, AMC reported second-quarter results that topped analysts’ estimates and revealed a plan to create a new class of preferred AMC equity, which will begin trading on the New York Stock Exchange on Aug. 22 under the new ticker “APE.” Aron promptly uncorked a tweetstorm, explaining the “game-changing” strategy, which he compared to playing “3-D chess.”</p><p>For each share of AMC Class A common stock, shareholders would be given a preferred equity unit as a dividend. Once the trading commenced, investors would be able to buy and sell them normally. In the future, at Aron’s discretion, the company would be able to issue new APE shares to raise additional money for potential moves such as paying down debt or making acquisitions. Such issuance could, of course, reduce the value of the outstanding shares that Apes cling to. Using the all-caps style often seen in the Ape vernacular, Aron summed up the slightly byzantine proceedings in terms everyone in the community could easily understand. “TODAY … WE … POUNCE,” he wrote.</p><p>While the reaction from professional analysts was mixed, the Reddit crowd went wild. By the following day, AMC gained 19%, to close at $22.18, a four-month high.</p><p>In spite of all the grim news in the broader market, things were looking up. Historically, Aron says, movie theaters have weathered economic downturns better than more expensive forms of entertainment. “I’ve been selling tickets all my life,” he says. “I’ve sold cruise tickets, lift tickets, game tickets. I’m still selling tickets.”</p><p>Over the summer he began selling something else—commemorative Thor hammersto promote Marvel’s<i>Thor: Love and Thunder</i>. For $39.99, fans could buy their very own version of the powerful god’s favorite weapon, reimagined in a handy new form: a warlike popcorn container. Aron appears almost as excited about the popcorn hammer as the gold mine. “We’ve sold 40,000 of them already.”</p></body></html>","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>AMC’s CEO Will Do Whatever It Takes to Keep His Company a Meme Forever</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\">\nAMC’s CEO Will Do Whatever It Takes to Keep His Company a Meme Forever\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-17 21:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/features/2022-08-17/amc-amc-stock-became-a-meme-thanks-to-adam-aron-s-antics><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>For most movie fans, their dream selfie with a Hollywood star never quite materializes. But on a Friday night in June, Bruce and Deborah Cooke spotted one of their favorite movie heroes, just feet ...</p>\n\n<a href=\"https://www.bloomberg.com/news/features/2022-08-17/amc-amc-stock-became-a-meme-thanks-to-adam-aron-s-antics\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AMC":"AMC院线"},"source_url":"https://www.bloomberg.com/news/features/2022-08-17/amc-amc-stock-became-a-meme-thanks-to-adam-aron-s-antics","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1145675545","content_text":"For most movie fans, their dream selfie with a Hollywood star never quite materializes. But on a Friday night in June, Bruce and Deborah Cooke spotted one of their favorite movie heroes, just feet away. They moved in and asked for a photo.Adam Aron, the chairman and chief executive officer ofAMC Entertainment Holdings Inc., greeted the couple warmly, making small talk as they arranged themselves for the camera. Bruce was dressed in slacks and a button-down. Deborah wore a striking green dress. “I put my arm around you, I go to jail,” Aron, who’s 67, playfully said to Deborah, who’s 55. Everyone laughed.Three days earlier, Aron had announced on Twitter that he would personally be hosting a screening of Pixar’s new movie,Lightyear, at an AMC theater in Olathe, Kan. The Cookes, who together own a small mortgage company in Sacramento, had vowed on the spot to make the pilgrimage to Kansas.The entire AMC saga meant so much to them. During the onset of the pandemic, when movie theaters were hastily shuttered, they bought their first batch of AMC stock. Moviegoing, they believed, would eventually bounce back. Plus, they thought it was cruel that a subset of investors were trying to force the company into bankruptcy. So the Cookes joined a legion of outsider traders, loosely organized on the Reddit forumr/wallstreetbets, who were swarming to AMC’s down-and-out stock, driving up its share price and sticking it to the skeptical short sellers and hedge funds betting big on the company’s failure. The Cookes recruited their loved ones to join them. “We got a lot of friends involved,” Deborah says.On social media, people started calling their pugnacious tribe theAMC Apes, as inPlanet of the Apes, the movie about a primate uprising. By Wall Street standards, they might be primitive, but they possessed power in numbers.Better yet, they had a fearless leader atop AMC, an alpha CEO who grunted and roared on Twitter, throwing feces, so to speak, at their enemies (recurring hashtag: #LetThemEatCrow) and beating his chest every time a movie performed well at the box office (#CHOKEonTHAT). Aron hired Nicole Kidman tostar in several AMC promotionsand bellowed tirelessly about her bravura performance, dubbing the glamorous actor “the first lady of AMC.” The whole thing had a King-Kong-palming-a-fair-maiden vibe. The Apes were ecstatic.Now, after a flight to Dallas, a four-hour drive to Tulsa, a break for the night, several more hours on the road, and another respite at a crummy hotel, the Cookes were right where they wanted to be, standing loyally at the Silverback’s side. After capturing their trophy shot, the California couple took their seats. With a few minutes left before the start of the previews, the place was far from full—a slightly ominous development, which the Cookes would later chalk up to “the bad guys,” aka the hedge funds, who they suspected had snapped up tickets and let them go unused to make AMC look bad. Anything to drive down the company’s share price. “There’s no telling what [they] will do,” Deborah says.“He creates a sound, a song, a whistle from his pipe that will cause people to gravitate preferentially to whatever business in the sector that he is running”At the front of the theater, Aron got up, gave a shoutout to the Apes, and acknowledged that the pandemic had been difficult. But the vaccines were working. Movies were storming back. “Our investors are passionate,” he said. “They like AMC as a company. They don’t think I’m that bad either. But most of all, they really want to see movie theaters survive.”At first glance, Aron, who became CEO of AMC in 2016, might not seem like a natural candidate to lead a successful investor insurgency. For much of his career he worked as a well-compensated turnaround artist, the kind of mercenary operator with the right pedigree (Harvard Business School) and right demeanor (bombastically self-assured) who gets hired to fix up a faltering company and maybe sell it off at a nice markup. If anything, Aron seemed like a well-sharpened tool of the Wall Street establishment, not of the internet masses.But the pandemic shook up the entertainment cosmos and exposed a surprising lack of leadership in Hollywood. Amid all the halted productions and scrambled release schedules, everyone looked around for somebody to rally the American people behind the movie industry. When no compelling candidates emerged from the studios or the streaming services, Aron charged headlong into the void.He’s spent his entire career perfecting the art of stunt marketing and the science of customer loyalty programs. Ideal training, in other words, for this weird new zeitgeist in the business world, one that favors combative, incautious, performative CEOs (see:Musk, Elon) who can draw loyal swarms of fans online and compel them to buy their products, pump up their stock price, and troll their critics. “He has an almost Pied Piper-ish ability to attract people,” says Darryl Hartley-Leonard, former CEO of Hyatt Hotels Corp., who hired Aron at Hyatt in the 1980s. “He creates a sound, a song, a whistle from his pipe that will cause people to gravitate preferentially to whatever business in the sector that he is running.”With AMC, that whistle has taken the form of meme-y membership schemes, free-for-all earnings calls, acomical stock ticker (APE), and the bizarre acquisition of a72,000-acre gold mine. Having narrowly navigated the company through the dark days of the early pandemic and taken his followers with him on a Hollywood blockbuster-worthy ride, Aron is now facing a much more fundamental challenge: holding the entire rickety, debt-laden enterprise together during a time of rising inflation, falling stocks, accelerating economic pressure, and a troop of Apes that might finally be questioning its alpha.Mission control for Aron isn’t Los Angeles or New York or even Las Vegas.AMC’s headquartersis in Kansas. The offices are housed in a sleek, glass-clad structure in Leawood, a prosperous suburb of Kansas City. The heart of the building is an open, spacious “test seating area” that doubles as a gathering spot. Throughout the workday, staffers can grab a snack and watch whatever is playing on its jumbo screen, from the latest Hollywood trailers to an afternoon Royals game.Beginning in 2016, employees would occasionally glance up and see cable news channels airing live interviews with their new CEO, who’d arrived right after fixing up and selling off Starwood Hotels & Resorts Worldwide.Aron typically shows up at a company looking as thoroughly distressed as the properties he’s swooping in to save. The strands of his comb-over meander across his head, sometimes losing a few stragglers en route. His wardrobe, friends and former colleagues note, is remarkably beaten up for a multimillionaire executive. Even on a sunny day, he can look like a man who just parachuted in through a tempest: suit wrinkled, tie stained, shirttail flapping in the wind.When Aron took over AMC, the entire theater business was facing mounting pressure. Shopping malls, which had long enjoyed a rich, symbiotic relationship with AMC multiplexes, were losing customers to online retail, jeopardizing foot traffic to ticket booths. Meanwhile, American viewers were growing increasingly enchanted with streaming networks such as Netflix.Not long after joining the company, Aron met with Wang Jianlin, head of the Dalian Wanda Group, a Chinese conglomerate, then the majority owner of AMC. He proceeded to show Wang a list he’d drawn up of 10 things to better position AMC for the future. One idea was to revamp its customer loyalty program, AMC Stubs. Another was to expand the company through acquisitions. Wang particularly liked the notion of supersizing AMC.Aron soon embarked on a $3 billion buying spree, snapping up three major theater chains in the US and Europe. By the spring of 2017 he’d made AMC into a colossus, with more than 10,000 screens in 15 countries. Aron—who has a professional wrestling promoter’s penchant for speaking in grandiose, history-in-the-making superlatives—could now brag about AMC on a planetary scale. “The largest in the US, the largest in Europe, and the largest globally,” he says.He threw himself into every aspect of the operations, spiffing up the company’s pre-movie promos; stiff-arming a startup,MoviePass Inc., that was elbowing into the loyalty rewards market for moviegoers; and flavor-jamming AMC’s food menu with the kind of flamboyance thatGuy Fierimight relish. Before long, Aron was touting AMC’s giant new pretzel, a salty 1.5-pound behemoth dubbed the Bavarian Legend.Aron at AMC’s headquarters in Leawood, Kan.Photographer: Shawn Brackbill for Bloomberg BusinessweekAlthough he was a relative newbie to the film industry, Aron had popcorn in his blood. In the 1930s his grandfather, a convivial, politically connected businessman, co-founded a successful company called Berlo Vending. Among other things, Berlo sold all the popcorn in all the movie theaters of eastern Pennsylvania. “By the time I came around, whatever family fortune there was had pretty much been squandered,” says Aron, who grew up in a middle-class Philadelphia suburb.Like his father, an ad man who regularly acted in an amateur theater troupe, Aron gravitated to the spotlight. By high school he was a math whiz, hockey goalie, and hammy stage performer. His comedic speeches playing up the life-altering sacrifices he’d made on behalf of his classmates won him the office of class treasurer twice. Once, as president of his high school’s Key Club, he organized a fundraiser basketball game that went on for 100 straight hours—which, according to Aron, set a Guinness World Record. When he discovered a catalog that sold slightly aged Hollywood film reels by mail, he rallied friends to construct a plywood screen in their school’s auditorium, where they charged for showings ofButch Cassidy and the Sundance Kid,Cool Hand Luke, and, of course,Planet of the Apes. The money poured into the coffers of the senior class. “What he was like then is what he is like now,” says Aron’s high school buddy Ashton Carter, who decades later would serve as secretary of defense under Barack Obama. “He could always convince a diverse group of people to get behind his vision.”After graduating from Harvard in three years, Aron stayed to get his MBA. He studied marketing, was elected co-president of the school’s transportation club, and was captain of the hockey team. While many of his peers beelined for the riches of Wall Street, he took a job with the airline Pan Am, which by 1979 was well past its glory years. A top executive, Stephen Wolf, was looking for someone who could create more loyalty among the airline’s dwindling customers. “The problem is that anybody who was semi-young and had half a brain had sensibly and correctly left Pan Am long ago,” recalls Wolf, who went on to become CEO of United Airlines. “I found Adam in the bowels of the organization somewhere.”Aron concocted Pan Am’s first frequent-flyers club and suddenly found himself on the fast track. He’d go on to create or reengineer loyalty programs for Western Airlines (TravelPass); Hyatt Hotels (Gold Passport); United Airlines (MileagePlus); Norwegian Cruise Line (NCL Latitudes); Vail Resorts (Peaks); the Philadelphia 76ers (the Franklin Club)—and, eventually, AMC (Stubs). “Adam is a pioneer of loyalty management,” says high school pal Jeffrey Sonnenfeld, now a professor at the Yale School of Management.In the late ’80s, Hyatt Hotels CEO Hartley-Leonard hired Aron to serve as a top marketing executive. “When he came in, he really was the most disheveled human being that you’d ever seen,” Hartley-Leonard says. “The problem with Adam is that his body is deformed such that his shirt doesn’t stay in his trousers.” Aron proved to be an unusually crafty marketer who generated ideas nonstop for winning over customers from rivals and for garnering free publicity, says his former boss. He also periodically mesmerized his colleagues with stunts, like the time he floated into an executive meeting on a custom-made dirigible. “Jay Pritzker [whose family owned Hyatt] turned to me and said, ‘What the f--- did this cost?’ ” Hartley-Leonard recalls. “I said, ‘Leave Adam alone. That’s who he is.’ ”In 1996, Apollo Global Management Inc. was in the market for someone to turn around Vail Resorts, the ski resort operator. By the time Aron left that job 10 years later, he’d diversified the company’s business model and more than quintupled revenue. “Vail was transformative,” says Marc Rowan, Apollo’s billionaire CEO. “He did an unbelievable job.”So much so that when Rowan’s partner, billionaire Apollo co-founder Joshua Harris, led a group of investors to acquire middling NBA team the 76ers in 2011, they installed Aron, a minority owner, to usher in a franchise turnaround. Of course, his first order of business was a barrage of promotional schemes. He made the team’s dance squad larger. He added Julius Erving as a consultant. He showered fans in confetti. And even though he’d step aside as CEO only two years later following another lousy season, he still left an Aron-shaped imprint on the franchise:“Big Bella,”the world’s largest T-shirt launcher, a cartoonishly massive, 600 pound, multibarrel leviathan that looks like something Mad Max might have mounted on a battle tank.The 2011 press conference to announce Apollo Global Management’s acquisition of the NBA’s Philadelphia 76ers. For two years, Aron was the team’s CEO.Photo: Getty ImagesAs the world locked down in 2020, Aron’s acquisition binge looked disastrous. AMC, saddled with $5 billion in debt, was forced to hastily shut down 1,000 theaters worldwide. He furloughed most of roughly 26,000 workers. “You know what they don’t teach in Harvard Business School?” he says. “The zero-revenue case.”AMC warned in a filing that it was weeks away from running out of cash. Bankruptcy seemed imminent. But Aron harbored a deep, abiding dislike for what he calls “Bankruptcy Inc.” In his 30s he’d spent months fighting off the vulturous bankruptcy professionals hungrily circling Norwegian Cruise Line. At one point, he recalls indignantly, the CEO of rival Carnival Corp. predicted publicly that Norwegian would file for bankruptcy within months—but it never happened. “I’m very pleased to have proven him wrong,” Aron says.Seven months into the pandemic, there were whispers on Wall Street and in the press that AMC could be filing for Chapter 11 any day. Aron scrambled to buy more time, renegotiating AMC’s rent payments with its landlords and looking for some way to ride out the pandemic disruptions.Eventually he found a lifeline in Jason Mudrick, a lantern-jawed, poker-playing graduate of Harvard Law School, who runs Mudrick Capital Management LP, a $3.4 billion hedge fund specializing in distressed businesses. Unlike financial advisers and lawyers who make money on fees when a bankruptcy is filed, Mudrick’s firm loans money to companies facing near-death circumstances. If the company recovers, the capital is repaid handsomely. If not, the fund can seize collateral or control. In December 2020, Mudrick loaned AMC $100 million, receiving an equity stake in return. Other lenders followed.News of the loans reached retail investors just as a strange new energy began coursing through Wall Street. Thanks to some combustible mix of pandemic-induced boredom, intemperance, and ingenuity, the meme-stock phenomenon was taking off. Day traders on Reddit were identifying downtrodden, heavily shorted stocks, then piling in collectively, pushing up the share price, and hyping the frenzy on social media to rope in more buyers. It had already happened with GameStop Corp.Then it was AMC’s turn. From January to early June it soared from $2 to more than $62. Along the way, Aron seized on the freakish moment by issuing new equity at the heightened prices, replenishing AMC’s coffers.By June 2021, 4 million retail investors had bought up more than 80% of the company’s shares. Aron knew from his years optimizing stunts and membership schemes that first you capture their attention, then you get them hooked. “It was just as true with our shareholders in the year 2021 as it was with airline passengers in 1981,” he says. So he designed a program that bridged the meme world with the real one: Buying AMC’s stock would get you movie-related perks.With AMC Investor Connect, after purchasing the company’s shares and signing up for its existing Stubs rewards program, you’d be given access to discounts at theaters, invitations to movie screenings with Aron, and a free tub of popcorn. The new program may have seemed gauche to the traditional Wall Street crowd, but it gave an air of exclusivity to everyman investors, even if the benefits were fairly silly. By 2022 the program would swell to more than 700,000 members.Aron with Kidman, whom he describes as “the first lady of AMC.”Source: Adam AronMeanwhile, Aron began doubling down on his new AMC persona. Dating back to his time with the 76ers, he’d been an active social media user, albeit with fewer followers and more mishaps. At an investor roundtable last year, he was briefly caught on Zoom untrousered, according to a participant. In June 2021 he was doing a remoteinterview with a YouTube market influencerwhen he accidentally bumped his webcam, which swiveled downward to reveal that, once again, he wasn’t wearing pants. Some AMC fans speculated that the YouTube incident was another one of Aron’s public-relations stunts. When asked about it, Aron declined to comment. “I would be the first to admit that I can be iconoclastic,” he says.As his audience grew, he’d spend an hour a day on Twitter, reading feedback from the Apes and crafting truculent messages. He’d quote Winston Churchill on an earnings call—“We shall fight on the beaches, we shall fight on the landing grounds”—or retweet a depiction of himself wearing a chef’s hat, holding a cleaver, and standing over a dead crow. By lacing his act with combative emotion, Aron infused AMC fandom with the kind of fervent personal identification once reserved for political parties and sports teams. Any analyst who’d dare question AMC’s prospects could expect to receive a torrent of online vitriol, even death threats, from hismore than 268,000 Twitter followers.While the Apes ate up his bellicose energy, continuing to buy up shares and vowing to hold them long-term, Aron and AMC’s other major investors began looking to cash out. With the stock riding high, everyone from the Dalian Wanda Group to Mudrick Capital to other top AMC executives were either selling off the bulk of their shares or eyeing the exits.Aron wasn’t going to let the opportunity pass. He enjoyed the perks of swank living as much as the next scorekeeping CEO, buying and selling over the years a portfolio of luxury properties from Beaver Creek, Colo., to Miami Beach. On Nov. 10, 2021, he revealed that for “estate planning” purposes he was unloading 625,000 AMC shares worth $25 million. The following month, he sold an additional chunk for $9.65 million. The family popcorn fortune, once squandered, was now restored. “Many of his friends went off into consulting and investment banking,” says high school friend Sonnenfeld. “Those people made more money initially. But he’s closed the gap a lot.”Aron with Mudrick at the Hycroft gold and silver mine in Nevada.Around midnight on Sunday, March 13, after landing at a tiny two-runway airport in rural Nevada, Aron headed to a nearby Best Western to catch a few hours of sleep. Several days earlier he’d gotten a call from Mudrick, who pitched him on an opportunity for AMC that had nothing to do with the movie business. Mudrick’s hedge fund owned a stake inHycroft Mining Holding Corp., a struggling operation in northwestern Nevada. To remain solvent, the company needed a quick cash infusion to appease its lenders. He wanted to know if AMC wanted in on a literal gold mine.Although Aron was familiar with a long list of industries, mining wasn’t one of them. But he was an expert at financial engineering, not to mention the strange metallurgy of transforming a business crisis into a windfall—and a spectacle. In recent months he’d been toying with diversifying AMC beyond theaters. There were plans to sell movie-themed merchandise, AMC-branded nonfungible tokens (NFTs), and, maybe someday, a branded credit card and cryptocurrency. Already in the works was AMC Perfectly Popcorn, which will be sold in supermarkets across the US next year. “Watch out, Orville Redenbacher,” he said on an earnings call on March 1.Aron told Mudrick he was interested. The hedge fund executive explained that they’d have to move fast: They had five days before the cost of the deal would significantly increase. Hycroft’s share price was rising, and Nasdaq rules required Aron to buy his stake at a share price that averaged the previous five days’ trading levels.So Mudrick corralled a jet in Teterboro, N.J., flew to Miami, picked up AMC Lead Director Philip Lader, then fetched Aron and AMC’s general counsel, Kevin Connor, who were on a work trip in Dallas. While in the air to Nevada, Mudrick and Aron batted around the numbers and dug into dinner. Mudrick ate a steak. Aron put away a seafood medley.Now, at 6 a.m., they arose in the dark at the hotel and set off for the mine. They drove past Winnemucca, a long-in-the-tooth railroad town where Butch Cassidy had once robbed a bank and the cellphone service was abysmal. The sun rose over the Black Rock Desert, a Martian landscape of dry playas and craggy, arid mountains. After two hours they arrived at theHycroft Mine, a dusty archipelagoof geological debris, jumbo trucks, and gaping holes in the ground—a toddler’s idea of heaven. They squeezed into a temporary office, the only place in the vicinity with Wi-Fi. For the next several hours, Aron and Mudrick took turns persuading lenders and board members to approve the sale. They inked the deal with a few minutes to spare.On March 15, when Aron announced that AMC was acquiring 22% of the largely dormant mine for $28 million, he got roughly the same reaction he’d triggered years earlier with his dirigible. Jaws dropped. Minds reeled. Somehow a recently distressed movie theater chain, saved by a hedge fund specializing in distressed lending, pumped up by retail investors profiting on distressed stocks, was now part owner of a distressed gold and silver mine, in a water-distressed pocket of the country, on a pandemic-distressed planet. The whole thing felt like a national parable. In America in 2022, distress was the new gold—or maybe fool’s gold. It was hard to say for certain.Much of the press and most analysts derided the move as just another gimmick, while others opined that the money should’ve been used to pay down the company’s exorbitant debt. But on Twitter, Aron was busy retweeting memes of himself draped in gold chains. His rationale for the investment, he said: Only two years earlier, AMC was in free fall; now it could deploy everything it learned to another underdog business.The loyal Apes followed him into the mineshaft, sending the penny stock sailing and netting AMC a $30 million profit. With the share price soaring, Hycroft took a page from the AMC playbook and offered more equity. Mudrick had initially hoped to raise $20 million. Thanks to the AMC bump, they wound up raising $200 million. Says Mudrick of Aron: “He could convince an Eskimo to buy ice.”So what exactly is AMC at this point? A legacy theater chain with a penchant for shiny objects? A precious-metals multiplex exhibitor venture fund?Last year, in a magnanimous gesture to the Apes, Aron tweaked the format of AMC’s quarterly earnings calls, allowing consumers to pose questions directly to the company’s brass. The inquiries of amateurs, he says, are often better than the ones from the professionals. “Not to be disrespectful to security analysts, but they often use earnings calls to build their financial models,” he says, segueing into an imitation of a squeaky-voiced analyst posing a tediously small-bore question.The stroke of populism has annoyed some of the pros. “These are the most painful calls for me to listen to of any in my career,” says Hunter Martin, an analyst at Creditsights Inc., a research shop. “The rhetoric is … very us vs. them, retail investor and common man. That’s their narrative. To their credit, they’re talking about the things that are important to those people. But it comes at a cost to more traditional investors who want to hear the numbers.”The Face That Launched a Thousand MemesAron’s fans will send him homemade memes of the CEO’s face hacked onto a movie poster, which he praises and tweets to his 268,000 Twitter followersSource: TwitterSource: TwitterSource: TwitterThere may be good reason to create some distractions. In a recent report, Bloomberg Intelligence projected that the 2022 domestic box-office numbers will come in at $7.5 billion, a significant boost from 2021’s $4.5 billion—but still just 66% of pre-pandemic levels. Meanwhile, 2022 has been a brutal environment for media companies, whose stock prices have tumbled across the board. The studios that supply AMC with its primary product are all facing potentially severe cutbacks of their own. Keeping the Apes amped won’t be easy. “Regardless of a brighter outlook, we fear that the 4 million-plus retail investors who have driven a 2,000%-plus surge in the stock may flip and eventually cash out, prompting more volatility,” Bloomberg Intelligence noted late last year.For much of the summer, AMC’s share price was hovering in the $12 to $17 range. On AMC fan boards, many Apes were itching for a new rally. For months there’d been chatter about the coming Mother of All Short Squeezes—a moment, it was foretold, when the Silverback would once again rear up and smite AMC’s enemies and somehow send the share price back up. As to the timing, everyone dug through the mud of Aron’s tweets looking for buried clues.Without any clear signs of action, frustration was evident. At AMC’s annual meeting in June, shareholders rejected the company’s executive pay plan, which in 2021 rewarded Aron with $18.9 million in total compensation. “I don’t think any of them need more money yet,” says Deborah Cooke, the AMC superfan from the Kansas screening.Aron shook off the intra-simian setback. During the same annual meeting in June, he told shareholders that AMC would be creating a $100 million fund to invest in other businesses. First came the gold mine; who knows what could be next. “There are a number of things that we looked at that we rejected, either because it wasn’t interesting enough, or there was too much risk, or the financial returns weren’t attractive enough,” he says. “But I’m sure we’ll find other opportunities as we turn over every rock.”AMC’s early gains on its Hycroft shares have already all but disappeared as the miner’s stock rally faded, though Aron has said he sees Hycroft as a longer-term investment, to net profits as the mine expands operations.So what exactly is AMC at this point? A legacy theater chain with a penchant for shiny objects? A precious-metals multiplex exhibitor venture fund? Or, as Bloomberg Opinion columnistMatt Levine described it this spring, “a merchant bank that helps small companies do meme-driven at-the-market offerings and takes equity for its fee”? Aron sticks with the most anodyne of explanations: “We are a movie theater company that is looking to diversify,” he says.In early August, with signs of Ape dissatisfaction still smoldering online, AMC reported second-quarter results that topped analysts’ estimates and revealed a plan to create a new class of preferred AMC equity, which will begin trading on the New York Stock Exchange on Aug. 22 under the new ticker “APE.” Aron promptly uncorked a tweetstorm, explaining the “game-changing” strategy, which he compared to playing “3-D chess.”For each share of AMC Class A common stock, shareholders would be given a preferred equity unit as a dividend. Once the trading commenced, investors would be able to buy and sell them normally. In the future, at Aron’s discretion, the company would be able to issue new APE shares to raise additional money for potential moves such as paying down debt or making acquisitions. Such issuance could, of course, reduce the value of the outstanding shares that Apes cling to. Using the all-caps style often seen in the Ape vernacular, Aron summed up the slightly byzantine proceedings in terms everyone in the community could easily understand. “TODAY … WE … POUNCE,” he wrote.While the reaction from professional analysts was mixed, the Reddit crowd went wild. By the following day, AMC gained 19%, to close at $22.18, a four-month high.In spite of all the grim news in the broader market, things were looking up. Historically, Aron says, movie theaters have weathered economic downturns better than more expensive forms of entertainment. “I’ve been selling tickets all my life,” he says. “I’ve sold cruise tickets, lift tickets, game tickets. I’m still selling tickets.”Over the summer he began selling something else—commemorative Thor hammersto promote Marvel’sThor: Love and Thunder. For $39.99, fans could buy their very own version of the powerful god’s favorite weapon, reimagined in a handy new form: a warlike popcorn container. Aron appears almost as excited about the popcorn hammer as the gold mine. “We’ve sold 40,000 of them already.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":31,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":171919524,"gmtCreate":1626702044268,"gmtModify":1703763613008,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/HMPT\">$Home Point Capital Inc.(HMPT)$</a>oh no no no no&nbsp;","listText":"<a href=\"https://laohu8.com/S/HMPT\">$Home Point Capital Inc.(HMPT)$</a>oh no no no no&nbsp;","text":"$Home Point Capital Inc.(HMPT)$oh no no no 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Brokers(TIGR)$.","images":[{"img":"https://community-static.tradeup.com/news/e18fd705d7b2ab4b5ac8b29e04e74fb0","width":"1080","height":"1864"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9999418816","isVote":1,"tweetType":1,"viewCount":147,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9035383489,"gmtCreate":1647512717889,"gmtModify":1676534239144,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"Ok 👌","listText":"Ok 👌","text":"Ok 👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035383489","repostId":"1142399013","repostType":4,"repost":{"id":"1142399013","kind":"news","pubTimestamp":1647504442,"share":"https://ttm.financial/m/news/1142399013?lang=&edition=fundamental","pubTime":"2022-03-17 16:07","market":"other","language":"en","title":"BHP Share Price Rebounds after 9-Day Slide. Here’s Why","url":"https://stock-news.laohu8.com/highlight/detail?id=1142399013","media":"Motley Fool","summary":"Key pointsThe BHP Group Ltd (ASX: BHP)share price was on the rebound today, posting its first gains ","content":"<html><head></head><body><p>Key points</p><p>The <b>BHP Group Ltd</b> (ASX: BHP)share price was on the rebound today, posting its first gains in more than a week.</p><p>Shares in the world’s second-largest miner were swapping hands for $45.68, up 1.11% at the market close today.</p><p><b>What’s driving BHP shares higher?</b></p><p>There may be a few factors contributing to the BHP share price move into positive territory today.</p><p>Firstly, the ascent of iron ore prices is providing a strong support base for the company’s margins. This is particularly important given the majority of revenue come from the steelmaking ingredient, BHP’s key commodity.</p><p>Currently, the price of iron ore is fetching US$141.50 a tonne, up 3.66% in the past 24 hours.</p><p>It’s worth noting that in the financial year ending 31 December 2021, iron ore accounted for more than half of the total group revenue from BHP.</p><p>In addition, the <b>S&amp;P/ASX 200 Resources</b> (ASX: XJR) index has also pushed ahead, advancing 0.97% to 5,534.1 points.</p><p>The sector represents 48 of the largest companies in the S&amp;P/ASX 200 that are members of the energy, metals and mining industry.</p><p>A positive shift in investor sentiment toward the index is likely to have propelled BHP shares forward.</p><p>In addition, commodity prices spiked when Russia attacked Ukraine on 24 February.</p><p>Lastly, analysts at Macquarie updated their outlook on BHP shares last month. The broker raised the 12-month price target by 6% to $54 apiece, representing a potential upside of around 20%.</p><p><b>BHP share price summary</b></p><p>Despite remaining relatively unchanged for the past 12 months, BHP shares have stormed 10% higher in 2022.</p><p>Investors heavily sold off the company’s shares in August 2021 after reaching an all-time high of $54.55. Since then, its shares hit a 52-week low of $35.56, before surging to late August levels of around the $45 mark.</p><p>Based on today’s price, BHP presides a market capitalisation of roughly $231.09 billion and has approximately 5.06 billion shares outstanding.</p></body></html>","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>BHP Share Price Rebounds after 9-Day Slide. Here’s Why</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\">\nBHP Share Price Rebounds after 9-Day Slide. Here’s Why\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-03-17 16:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com.au/2022/03/17/bhp-share-price-rebounds-after-9-day-slide-heres-why/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Key pointsThe BHP Group Ltd (ASX: BHP)share price was on the rebound today, posting its first gains in more than a week.Shares in the world’s second-largest miner were swapping hands for $45.68, up ...</p>\n\n<a href=\"https://www.fool.com.au/2022/03/17/bhp-share-price-rebounds-after-9-day-slide-heres-why/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"BHP.AU":"BHP GROUP LTD"},"source_url":"https://www.fool.com.au/2022/03/17/bhp-share-price-rebounds-after-9-day-slide-heres-why/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1142399013","content_text":"Key pointsThe BHP Group Ltd (ASX: BHP)share price was on the rebound today, posting its first gains in more than a week.Shares in the world’s second-largest miner were swapping hands for $45.68, up 1.11% at the market close today.What’s driving BHP shares higher?There may be a few factors contributing to the BHP share price move into positive territory today.Firstly, the ascent of iron ore prices is providing a strong support base for the company’s margins. This is particularly important given the majority of revenue come from the steelmaking ingredient, BHP’s key commodity.Currently, the price of iron ore is fetching US$141.50 a tonne, up 3.66% in the past 24 hours.It’s worth noting that in the financial year ending 31 December 2021, iron ore accounted for more than half of the total group revenue from BHP.In addition, the S&P/ASX 200 Resources (ASX: XJR) index has also pushed ahead, advancing 0.97% to 5,534.1 points.The sector represents 48 of the largest companies in the S&P/ASX 200 that are members of the energy, metals and mining industry.A positive shift in investor sentiment toward the index is likely to have propelled BHP shares forward.In addition, commodity prices spiked when Russia attacked Ukraine on 24 February.Lastly, analysts at Macquarie updated their outlook on BHP shares last month. The broker raised the 12-month price target by 6% to $54 apiece, representing a potential upside of around 20%.BHP share price summaryDespite remaining relatively unchanged for the past 12 months, BHP shares have stormed 10% higher in 2022.Investors heavily sold off the company’s shares in August 2021 after reaching an all-time high of $54.55. Since then, its shares hit a 52-week low of $35.56, before surging to late August levels of around the $45 mark.Based on today’s price, BHP presides a market capitalisation of roughly $231.09 billion and has approximately 5.06 billion shares outstanding.","news_type":1},"isVote":1,"tweetType":1,"viewCount":126,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944657819,"gmtCreate":1681835582732,"gmtModify":1681835587400,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"......................","listText":"......................","text":"......................","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944657819","isVote":1,"tweetType":1,"viewCount":431,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9944655173,"gmtCreate":1681835328593,"gmtModify":1681835329622,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","listText":"<a href=\"https://ttm.financial/S/TSLA\">$Tesla Motors(TSLA)$&nbsp;</a>","text":"$Tesla Motors(TSLA)$","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944655173","isVote":1,"tweetType":1,"viewCount":370,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9996276182,"gmtCreate":1661181381148,"gmtModify":1676536468835,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$</a>.","listText":"<a href=\"https://ttm.financial/S/FUTU\">$Futu Holdings Limited(FUTU)$</a>.","text":"$Futu Holdings Limited(FUTU)$.","images":[{"img":"https://community-static.tradeup.com/news/b0a2b2b1fa9a163a529ccc207999b061","width":"1080","height":"1864"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996276182","isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9996238352,"gmtCreate":1661174306879,"gmtModify":1676536466758,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":".","listText":".","text":".","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9996238352","repostId":"2261515660","repostType":4,"repost":{"id":"2261515660","kind":"news","pubTimestamp":1661160166,"share":"https://ttm.financial/m/news/2261515660?lang=&edition=fundamental","pubTime":"2022-08-22 17:22","market":"us","language":"en","title":"How Much Does FSD Impact Tesla's Valuation?","url":"https://stock-news.laohu8.com/highlight/detail?id=2261515660","media":"Seeking Alpha","summary":"SummaryTesla recently released Full Self-Drive with a lot of hype and subsequent criticism.Elon Musk recently stated the FSD is the difference between Tesla being worth a lot of money or being worth basically zero.Does FSD work?These questions are explored in this article.It uses my personal experience as a beta tester for Tesla FSD.It also describes the underlying FSD technology and its advantages and limitations compared to other alternative approaches.Aranga87Tesla  is currently valued at alm","content":"<html><head></head><body><p><b>Summary</b></p><ul><li>Tesla recently released Full Self-Drive with a lot of hype and subsequent criticism.</li><li>Elon Musk recently stated the FSD is the difference between Tesla being worth a lot of money or being worth basically zero.</li><li>Does FSD work? What could it be worth? These questions are explored in this article.</li><li>It uses my personal experience as a beta tester for Tesla FSD.</li><li>It also describes the underlying FSD technology and its advantages and limitations compared to other alternative approaches.</li></ul><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/05e1a47642e6637b1b7549b279eb8ad1\" tg-width=\"1080\" tg-height=\"665\" width=\"100%\" height=\"auto\"/><span>Aranga87</span></p><p>Tesla (NASDAQ:TSLA) is currently valued at almost a trillion dollars. So, the trillion-dollar question is how much of that valuation comes from Tesla&#39;s Full Self-Drive software and how much more could it increase Tesla&#39;s valuation?</p><p>According to Elon Musk, asquoted in Business Insider on June 16th, from an interview on Tesla Owners Silicon Valley, Tesla&#39;s valuation is determined by FSD:</p><blockquote>&#34;But the overwhelming focus is on solving full self-driving. That&#39;s essential. It&#39;s really the difference between Tesla being worth a lot of money or worth basically zero.&#34;</blockquote><p>Musk has also predicted that Tesla will have a million FSD beta subscribers by the end of this year (electrek 7/20/22). Do that math! One million subscribers at $12,000 equal $12 billion of pure profit. At Tesla&#39;s current P/E of 100X, that would add $1.2 trillion in value.</p><p>Let&#39;s look at the value and utility of FSD. In addition to doing strategic analysis, I&#39;m a beta tester for Tesla Full Self-Drive and will share my observations.</p><p><b>Tesla&#39;s Levels Of Autonomous Driving</b></p><p>Tesla offers three autonomous driving packages:</p><p><b>Autopilot</b></p><p>Autopilot, which comes standard with all Teslas, as it does with many competitive models, includes the following functionality and features:</p><ul><li><b>Traffic-Aware Cruise Control</b>: Matches the car&#39;s speed to the surrounding traffic.</li><li><b>Autosteer</b>: Assists in steering within clearly marked lanes and uses traffic-aware cruise control.</li></ul><p><b>Enhanced Autopilot</b></p><p>In addition to the functionality and features of Autopilot, Enhanced Autopilot also includes:</p><ul><li><b>Navigate on Autopilot</b>: Actively guides the car from a highway&#39;s on-ramp to off-ramp, including suggesting lane changes, navigating interchanges, automatically engaging the turn signal, and taking the correct exit.</li><li><b>Auto Lane Change</b>: Assists in moving to an adjacent lane on the highway when Autosteer is engaged.</li><li><b>Autopark</b>: Helps automatically parallel or perpendicularly park the car with a single touch.</li><li><b>Summon</b>: Moves the car in and out of a tight space using the mobile app or key.</li><li><b>Smart Summon</b>: The car will navigate more complex environments and parking spaces, maneuvering around objects as necessary to find the driver in a parking lot.</li></ul><p><b>Full Self-Driving Capability</b></p><p>In addition to the functionality and features of Autopilot and Enhanced Autopilot, the Full Self-Driving Capability also includes:</p><ul><li><b>Traffic and Stop Sign Control (Beta)</b>: Identifies stop signs and traffic lights and automatically slows the car to a stop upon approach, with active supervision.</li><li><b>Recently Added</b>: Autosteer on city streets.</li></ul><p>Tesla makes it clear on its website (but not in the names it uses) that the currently enabled Autopilot, Enhanced Autopilot, and Full Self-Driving features require active driver supervision and do not make the vehicle autonomous. It states that full autonomy will depend on achieving reliability far above human drivers, as demonstrated by billions of miles of experience, as well as regulatory approval. As Tesla&#39;s Autopilot, Enhanced Autopilot, and Full Self-Driving capabilities evolve, cars will continuously be upgraded through over-the-air software updates. There is still an open question about cars needing future hardware and sensor upgrades.</p><p>Tesla charges an additional fee of $6,000 for Enhanced Autopilot and $12,000 for Full Self-Driving. There is also an option to pay $199 monthly for FSD. FSD is only available as a beta test version, and the city streets capability was just recently added.</p><p><b>How Well Does FSD Work?</b></p><p>Tesla FSD is the first vehicle available at retail (not including AV fleets like Cruise and Waymo) that can autonomously turn corners and stop and go at traffic signals. It&#39;s impressive, but nevertheless, it isn&#39;t full self-drive in the definition of that term. And there are still many flaws in the way it operates.</p><p>There has been a lot of criticism about FSD lately, with articles about tests showing a Tesla with FSD running over a dummy child, followed by rebuttals from Tesla fans who tested it on their own (or borrowed) children to show that it does stop. Even Ralph Nader came out of retirement (since the 1960&#39;s<i>Unsafe At Any Speed</i>) to call on the National Highway Traffic Safety Administration to recall FSD to &#34;prevent the growing deaths and injuries.&#34;</p><p>I&#39;m not going to repeat these discussions. There is plenty to read about these. Instead, I will share some of my real experiences beta testing FSD. I&#39;ve been driving a Tesla Model 3 for more than three years. I&#39;ve driven it thousands of miles in Enhanced Autopilot mode. Recently, I&#39;ve been driving FSD with autosteer on city streets. (Maybe that opportunity will be removed after this article?)</p><p>First, FSD can now make left-hand and right-hand turns, stop at traffic signs and lights, start driving on its own when the light changes, and change speed automatically based on speed limits. It&#39;s impressive. It&#39;s fun but stressful to drive/ride. Here are some of the problems I experienced:</p><ul><li>Many of the turns are clumsy. To turn right, it frequently drifts to the left into the other lane before maneuvering the right-hand turn.</li><li>On one left-hand turn, it cut deeply across one of the oncoming lanes on the road it was turning into. It couldn&#39;t tell that three lanes were coming in that direction because its vision was blocked by cars in the first two lanes. It (I) was almost hit by a car coming up in the lane it cut into.</li><li>It drives erratically on roads with no painted lines. To its credit, FSD does estimate where the road ends even without lines, but then it struggles to position itself on the right side of the road. In one case, where there weren&#39;t any painted lines, but there was an apron on the side of the road, it would try to center itself on the apron instead of the road.</li><li>Enhanced Autopilot and FSD are two distinct software platforms. Tesla plans to merge them in an upcoming release. However, for now, the hand-off from one to the other is clumsy. Previously with Enhanced Autopilot, when it exited the highway, it would force me to take control at the end of the exit ramp. Now it just gets confused and comes to an abrupt stop at the end of the ramp because it goes straight where the exit splits to the left and right.</li><li>Once, it tried to turn right with an oncoming car and would have hit it. Not sure why it did that.</li><li>Sometimes it doesn&#39;t read a speed limit sign and continues to use the previous speed limit.</li><li>It gets confused at right-on-red turns. It hesitates, then tries to jump into too small of a gap between oncoming cars. At one intersection, it attempted to turn right-on-red when it didn&#39;t recognize a no-right-turn-on-red sign posted across the intersection.</li><li>A couple of times, it tried to go through a stop sign because it didn&#39;t register the sign in time. These are intersections where the stop sign is far to the right of the turning lane because of a large bicycle lane or extra lane width. It only recognized the sign as it went through the intersection and then stopped abruptly in the middle of the intersection.</li><li>Driving on a rotary/roundabout. Nope. It can&#39;t do it. Don&#39;t try it. There are three unmarked rotary lanes with the protocol to weave inside and outside as you approach your exit. This is too advanced.</li><li>It does identify pedestrians. I wish it would go wider and slower around them, though. Remember, this is a silent EV that people don&#39;t hear. It frequently identifies multiple people as one and golf bags as people, but these are not big problems. One time it stopped abruptly because it thought pedestrians walking on the sidewalk would try to cross the street when they weren&#39;t.</li><li>It automatically drives at the speed limit, which is sometimes too slow and sometimes too fast. For example, on a winding road, the speed limit is 30 MPH. That is too slow for the straight sections, which isn&#39;t much of a problem except for the frustrated trailing cars. But at some curves, 30 MPH is too fast. Experienced drivers intuitively know to slow down approaching those curves, but Tesla FSD tries to navigate the curve at 30 MPH -- and it doesn&#39;t. It veers into the oncoming lane and sometimes stops abruptly if there is an oncoming car.</li><li>The visualization system is much better with FSD. It&#39;s cool. It recognizes the edge of the road, not just the painted lines. It doesn&#39;t always recognize objects correctly. The other day I drove right through a tractor-trailer or just the image of one created by the shadow from my garage. It doesn&#39;t recognize some types of emergency vehicles. It interprets the flashing lights as backup lights or turn signals. I wish it would add color to the visualization, but that is too much for the computer&#39;s processing power.</li><li>It stops suddenly when a car coming in the other direction on a curve appears to be approaching you.</li></ul><p>Despite all of its flaws, FSD is still impressive technology. It&#39;s a real novelty to take people for a ride in it. The panic on their faces is priceless. Is it safe? Well, maybe, as long as you <b>really</b> pay attention to how it is driving and take control of it before it causes an accident. And it will improve with software upgrades. Using Autopilot for highway driving is more relaxing than driving yourself. You need to pay attention, but very little happens that the car doesn&#39;t control appropriately. FSD, on the other hand, is more stressful than driving yourself. It would be best if you worried at every turn, every curve in the road, every traffic light or stop sign, and every pedestrian you pass. In city driving, this is constant. You need to override FSD frequently.</p><p>In addition to the question about safety, two critical strategic questions will determine the success of FSD for Tesla. The first is understanding if the problems like the ones I mentioned can be solved by updated software or are due to a fundamental limitation of Tesla&#39;s technology approach. The second is deciding if FSD is worth $12,000.</p><p><b>Tesla&#39;s Autonomous Driving Technology Platform</b></p><p>There are several alternative approaches to autonomous driving, each using a different technology platform. These autonomous driving platforms have different costs and limitations. I go into these in detail in my books on autonomous driving, but I&#39;ll try to summarize the two primary ones.</p><p><b>Camera-Only Based System</b></p><p>The first autonomous driving approach uses a system with cameras to identify what is around the vehicle and where it is within lane markings. This is the approach used by Tesla with eight monochrome cameras of different focal lengths around the vehicle. The way this system works is that the cameras identify what is ahead and around the vehicle. It uses lane markings to position the vehicle on the road. The cameras also identify other vehicles, stationary objects, and pedestrians. The Tesla onboard computer characterizes these objects based on shape, size, and motion. It then determines the vehicle&#39;s path, acceleration, and stopping.</p><p>This autonomous driving approach is used in Tesla&#39;s Enhanced Autopilot, as it is in other cars for semi-autonomous highway driving. These work very well on straight highways and roads where there is no need to turn corners. The Mercedes Distronic and GM Super Cruise are similar systems. I&#39;ve driven with the Mercedes system for thousands of miles in addition to the Tesla, and I found the Mercedes system to be smoother.</p><p>The big technical question is: Is the camera-only approach sufficient for city and rural driving, where it needs to turn corners, stop at traffic signals, and interact with pedestrians? That is what Tesla is trying to do with FSD.</p><p><b>Camera System Combined with High-Definition Maps</b></p><p>The second approach uses a similar camera-based system with other sensors. But, it importantly adds another system with a detailed high-definition map and lidar to precisely position the vehicle within that map.</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/1be00e54940c892e0edb88da0f05e2cb\" tg-width=\"800\" tg-height=\"409\" width=\"100%\" height=\"auto\"/><span>Sample High-Definition Map (FutureCar)</span></p><p>HD maps (illustrated in the photo above) provide three primary sets of information. The first is the actual 3D representation of the road and its related features like stop signs, traffic signals, lane markings, crosswalks, curb heights, etc. These features are measured with centimeter-level accuracy. The second interprets what each such sign, light, and marking means. And the third outlines the optimal drive paths the AV can follow smoothly. Sensors on the AV, especially lidar, identify where the AV is in the real world and matches it precisely to the HD map. It can then use the HD map information to guide it.</p><p>In addition, to the HD map system, these vehicles also have cameras and other sensors to identify all dynamic objects around them, such as vehicles, pedestrians, etc.</p><p><b>Pros and cons of the two approaches</b></p><p>The camera-only approach has two significant advantages. It is cheaper and not restricted to areas defined in the HD map. The disadvantage is that it might not work for city and rural autonomous driving, where it needs to turn corners, merge with traffic, and follow traffic signals. So it might not be capable of fully driverless operation.</p><p>Let&#39;s consider some of my experiences with Tesla FSD discussed earlier. Many of these can be improved with software changes but not all of them.</p><ul><li>For example, the left-hand turn where it could not visually identify that there were three lanes, so it assumed two lanes because it could see cars stopped in those lanes. It then turned into the third lane because it thought it was the correct lane, but there was an oncoming car. The correct lane for the direction it was turning was the next. A system with an HD map would have identified the three lanes and provided the correct turning radius.</li><li>The examples where the stop sign was not visible to the camera would not have been a problem for the HD map system because it would be identified on the map. FSD just didn&#39;t see it in its field of view.</li><li>The problem of excessive speed on upcoming curves might be able to be addressed with longer-distance cameras but might not be reliable in all cases. The curves would be fully identified with an HD map, and the AV would be instructed to reduce speed as it approaches the curve.</li></ul><p>These limitations could keep Tesla FSD from being truly driverless and unable to dispatch a Tesla vehicle to drive on its own with no driver to take control. This would limit its value, as we will discuss below.</p><p>The other approach, the HD map system, can be fully autonomous but only within the mapped area, generally referred to as geofenced. That is why it&#39;s the system of choice for what I refer to as sufficiently autonomous driving. An AV can reliably drive from one point to another along a predefined route. The HD map system will be used for fleets autonomously driving specific routes. The fleets will test their AVs on the routes over and over to make sure they function safely.</p><p>These will be the first three implementations of autonomous driving, with significant launches expected in the next two years:</p><ul><li><b>Autonomous Ride-Hailing</b>. Waymo (GOOG) is already operating in Scottsdale, and Cruise (GM) is operational in San Francisco. To better understand this market and technology, see:Advantages GM Cruise Has Over Uber.</li><li><b>Autonomous Long-Haul Trucking</b>. See Autonomous Long-Haul Trucking: 3 Pure Play Investment Opportunities.</li><li><b>Autonomous Home Delivery.</b>There are several pilot projects around the country, and Nuro is developing a special AV delivery vehicle.</li></ul><p><b>How Valuable Is Tesla FSD?</b></p><p>So, how valuable is Tesla&#39;s Full Self-Drive? Let&#39;s look at it in several ways.</p><p>Elon Musk&#39;s two statements at the beginning of this article frame the value: Tesla is worthless without it, and with it, it will provide $12 billion of incremental profit annually. However, sometimes Elon Musk exaggerates things (ask Manchester United). From a practical analysis, neither of these is most likely correct.</p><p>In Tesla&#39;s recent annual meeting (Tesla 8/4/22 Annual Meeting),Elon Musk discussed his view on FSD. He made an important observation that cars today sit idle most of the time, typically used only 12 hours per week. When autonomous, the utility can increase to 50-60 hours per week. The cost is relatively the same. He envisions Tesla vehicles to be fully autonomous through FSD, and those owners will be able to make money by sharing their cars the way Airbnb and Uber work. He believes that assuming this, Tesla will become the most valuable company in the world.</p><p>However, this assumes that FSD will be completely driverless.</p><p>Tesla recently cited that it had 100,000 people authorized to use FSD and that they drove 10 million miles last month. This is an interesting data point because that&#39;s an average of only 100 miles of FSD per person per month, which equates to a cost of $2-$3 per mile for FSD, depending on how much was paid for FSD. For most people, city driving miles are much lower than highway driving. If FSD is only a convenience feature for a small portion of the driving and not truly driverless, then for many, it&#39;s too expensive an option at $12,000. And this assumes that it works sufficiently.</p><p>So, the most significant value of FSD comes if it is fully driverless and Tesla can create a virtual fleet from customer cars that would be competitive with Cruise, Waymo, Argo, Aurora, Motional, and possibly Apple. This isn&#39;t likely in the near future. But maybe there is another alternative.</p><p><b>Recommendation For Tesla</b></p><p>However, there is another way for Tesla to get value from its FSD technology. It doesn&#39;t need to (and can&#39;t) make the jump to driverless right away. Here&#39;s what it could do:</p><ul><li>Rename this release Limited Self-Driving. In addition to enabling the name FSD to be used for a future release, it would diminish many of the FSD complaints.</li><li>Keep it as a beta test program for longer -- at least another year. And request feedback more directly from its users.</li><li>Require the driver to be hands-on and have the system turn control back to the driver immediately in certain situations. An example is when it gets to an intersection with a red traffic signal and is turning right, give control back to the driver with the question &#34;turn right on red?&#34; This would enable the driver to decide if it&#39;s safe to turn right or not. It would also avoid the risk I mentioned previously of not seeing a no-turn-on-red sign. There are other similar situations such as turning left on an intersection where the line markings are not clear. This could be implemented similar to Enhanced Autopilot where the vehicle asks drivers if they want to initiate lane changes. Put in many of these cases initially, but gradually eliminate them as the software improves.</li><li>After beta testing, price the Limited Self-Driving feature at $6,000 instead of $12,000. The higher price could be used when true FSD is achieved. This would probably require reducing the Enhanced Autopilot feature price too. It may mean refunding some previously paid fees, but that&#39;s not a big deal.</li></ul><p>This approach would provide a safer way forward for Tesla, even though it&#39;s not as dramatic and may not be Elon Musk&#39;s style. It would enable Tesla to still get additional revenue/profit from its technology, with probably more customers buying it at $6,000 than at $12,000. It would mean several years of Limited Self-Drive with FSD deferred until the future. Tesla could still be the first to offer driverless fully-autonomous cars at retail in the future. However, most likely it would be well behind Waymo, Cruise, and others with autonomous ride-hailing. It&#39;s an issue of strategic priorities, having a feasible core strategic vision.</p><p><b>Conclusion</b></p><p>There are several diverse outcomes on the value of FSD.</p><ul><li>It could have no value if authorities shut it down for safety reasons, and/or it proves to be unsafe with too many accidents. It&#39;s possible that this could even have negative value if it damages Tesla&#39;s reputation.</li><li>It could have additional near-term value to Tesla if released as a Limited Self-Driving alternative, along with continued longer-term value if it becomes the first fully autonomous car sold at retail.</li><li>It could have tremendous value if it becomes fully driverless in the immediate future and competes in the autonomous ride-hailing market. But I think this is a long-shot.</li></ul><p>Analysts don&#39;t seem to value FSD much in their projections, although Tesla does not break out Autopilot or FSD revenue yet. (Note: Elon Musk criticizes analyst forecasts because they don&#39;t even drive a Tesla.) ARK Invest puts significant value on FSD with autonomous ride-hailing in its forecasts. Many Tesla fans and retail investors are ecstatic about FSD.</p><p>In any case, the progress of FSD should be watched closely over the next few months by all Tesla investors.</p><p>Note: The price for Tesla Inc.’s Full Self-Driving system will rise to $15,000 in North America, Chief Executive Officer Elon Musk tweeted Sunday.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Much Does FSD Impact Tesla's Valuation?</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\">\nHow Much Does FSD Impact Tesla's Valuation?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-08-22 17:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/article/4536052-how-much-does-fsd-impact-tesla-stock-valuation><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SummaryTesla recently released Full Self-Drive with a lot of hype and subsequent criticism.Elon Musk recently stated the FSD is the difference between Tesla being worth a lot of money or being worth ...</p>\n\n<a href=\"https://seekingalpha.com/article/4536052-how-much-does-fsd-impact-tesla-stock-valuation\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://seekingalpha.com/article/4536052-how-much-does-fsd-impact-tesla-stock-valuation","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2261515660","content_text":"SummaryTesla recently released Full Self-Drive with a lot of hype and subsequent criticism.Elon Musk recently stated the FSD is the difference between Tesla being worth a lot of money or being worth basically zero.Does FSD work? What could it be worth? These questions are explored in this article.It uses my personal experience as a beta tester for Tesla FSD.It also describes the underlying FSD technology and its advantages and limitations compared to other alternative approaches.Aranga87Tesla (NASDAQ:TSLA) is currently valued at almost a trillion dollars. So, the trillion-dollar question is how much of that valuation comes from Tesla's Full Self-Drive software and how much more could it increase Tesla's valuation?According to Elon Musk, asquoted in Business Insider on June 16th, from an interview on Tesla Owners Silicon Valley, Tesla's valuation is determined by FSD:\"But the overwhelming focus is on solving full self-driving. That's essential. It's really the difference between Tesla being worth a lot of money or worth basically zero.\"Musk has also predicted that Tesla will have a million FSD beta subscribers by the end of this year (electrek 7/20/22). Do that math! One million subscribers at $12,000 equal $12 billion of pure profit. At Tesla's current P/E of 100X, that would add $1.2 trillion in value.Let's look at the value and utility of FSD. In addition to doing strategic analysis, I'm a beta tester for Tesla Full Self-Drive and will share my observations.Tesla's Levels Of Autonomous DrivingTesla offers three autonomous driving packages:AutopilotAutopilot, which comes standard with all Teslas, as it does with many competitive models, includes the following functionality and features:Traffic-Aware Cruise Control: Matches the car's speed to the surrounding traffic.Autosteer: Assists in steering within clearly marked lanes and uses traffic-aware cruise control.Enhanced AutopilotIn addition to the functionality and features of Autopilot, Enhanced Autopilot also includes:Navigate on Autopilot: Actively guides the car from a highway's on-ramp to off-ramp, including suggesting lane changes, navigating interchanges, automatically engaging the turn signal, and taking the correct exit.Auto Lane Change: Assists in moving to an adjacent lane on the highway when Autosteer is engaged.Autopark: Helps automatically parallel or perpendicularly park the car with a single touch.Summon: Moves the car in and out of a tight space using the mobile app or key.Smart Summon: The car will navigate more complex environments and parking spaces, maneuvering around objects as necessary to find the driver in a parking lot.Full Self-Driving CapabilityIn addition to the functionality and features of Autopilot and Enhanced Autopilot, the Full Self-Driving Capability also includes:Traffic and Stop Sign Control (Beta): Identifies stop signs and traffic lights and automatically slows the car to a stop upon approach, with active supervision.Recently Added: Autosteer on city streets.Tesla makes it clear on its website (but not in the names it uses) that the currently enabled Autopilot, Enhanced Autopilot, and Full Self-Driving features require active driver supervision and do not make the vehicle autonomous. It states that full autonomy will depend on achieving reliability far above human drivers, as demonstrated by billions of miles of experience, as well as regulatory approval. As Tesla's Autopilot, Enhanced Autopilot, and Full Self-Driving capabilities evolve, cars will continuously be upgraded through over-the-air software updates. There is still an open question about cars needing future hardware and sensor upgrades.Tesla charges an additional fee of $6,000 for Enhanced Autopilot and $12,000 for Full Self-Driving. There is also an option to pay $199 monthly for FSD. FSD is only available as a beta test version, and the city streets capability was just recently added.How Well Does FSD Work?Tesla FSD is the first vehicle available at retail (not including AV fleets like Cruise and Waymo) that can autonomously turn corners and stop and go at traffic signals. It's impressive, but nevertheless, it isn't full self-drive in the definition of that term. And there are still many flaws in the way it operates.There has been a lot of criticism about FSD lately, with articles about tests showing a Tesla with FSD running over a dummy child, followed by rebuttals from Tesla fans who tested it on their own (or borrowed) children to show that it does stop. Even Ralph Nader came out of retirement (since the 1960'sUnsafe At Any Speed) to call on the National Highway Traffic Safety Administration to recall FSD to \"prevent the growing deaths and injuries.\"I'm not going to repeat these discussions. There is plenty to read about these. Instead, I will share some of my real experiences beta testing FSD. I've been driving a Tesla Model 3 for more than three years. I've driven it thousands of miles in Enhanced Autopilot mode. Recently, I've been driving FSD with autosteer on city streets. (Maybe that opportunity will be removed after this article?)First, FSD can now make left-hand and right-hand turns, stop at traffic signs and lights, start driving on its own when the light changes, and change speed automatically based on speed limits. It's impressive. It's fun but stressful to drive/ride. Here are some of the problems I experienced:Many of the turns are clumsy. To turn right, it frequently drifts to the left into the other lane before maneuvering the right-hand turn.On one left-hand turn, it cut deeply across one of the oncoming lanes on the road it was turning into. It couldn't tell that three lanes were coming in that direction because its vision was blocked by cars in the first two lanes. It (I) was almost hit by a car coming up in the lane it cut into.It drives erratically on roads with no painted lines. To its credit, FSD does estimate where the road ends even without lines, but then it struggles to position itself on the right side of the road. In one case, where there weren't any painted lines, but there was an apron on the side of the road, it would try to center itself on the apron instead of the road.Enhanced Autopilot and FSD are two distinct software platforms. Tesla plans to merge them in an upcoming release. However, for now, the hand-off from one to the other is clumsy. Previously with Enhanced Autopilot, when it exited the highway, it would force me to take control at the end of the exit ramp. Now it just gets confused and comes to an abrupt stop at the end of the ramp because it goes straight where the exit splits to the left and right.Once, it tried to turn right with an oncoming car and would have hit it. Not sure why it did that.Sometimes it doesn't read a speed limit sign and continues to use the previous speed limit.It gets confused at right-on-red turns. It hesitates, then tries to jump into too small of a gap between oncoming cars. At one intersection, it attempted to turn right-on-red when it didn't recognize a no-right-turn-on-red sign posted across the intersection.A couple of times, it tried to go through a stop sign because it didn't register the sign in time. These are intersections where the stop sign is far to the right of the turning lane because of a large bicycle lane or extra lane width. It only recognized the sign as it went through the intersection and then stopped abruptly in the middle of the intersection.Driving on a rotary/roundabout. Nope. It can't do it. Don't try it. There are three unmarked rotary lanes with the protocol to weave inside and outside as you approach your exit. This is too advanced.It does identify pedestrians. I wish it would go wider and slower around them, though. Remember, this is a silent EV that people don't hear. It frequently identifies multiple people as one and golf bags as people, but these are not big problems. One time it stopped abruptly because it thought pedestrians walking on the sidewalk would try to cross the street when they weren't.It automatically drives at the speed limit, which is sometimes too slow and sometimes too fast. For example, on a winding road, the speed limit is 30 MPH. That is too slow for the straight sections, which isn't much of a problem except for the frustrated trailing cars. But at some curves, 30 MPH is too fast. Experienced drivers intuitively know to slow down approaching those curves, but Tesla FSD tries to navigate the curve at 30 MPH -- and it doesn't. It veers into the oncoming lane and sometimes stops abruptly if there is an oncoming car.The visualization system is much better with FSD. It's cool. It recognizes the edge of the road, not just the painted lines. It doesn't always recognize objects correctly. The other day I drove right through a tractor-trailer or just the image of one created by the shadow from my garage. It doesn't recognize some types of emergency vehicles. It interprets the flashing lights as backup lights or turn signals. I wish it would add color to the visualization, but that is too much for the computer's processing power.It stops suddenly when a car coming in the other direction on a curve appears to be approaching you.Despite all of its flaws, FSD is still impressive technology. It's a real novelty to take people for a ride in it. The panic on their faces is priceless. Is it safe? Well, maybe, as long as you really pay attention to how it is driving and take control of it before it causes an accident. And it will improve with software upgrades. Using Autopilot for highway driving is more relaxing than driving yourself. You need to pay attention, but very little happens that the car doesn't control appropriately. FSD, on the other hand, is more stressful than driving yourself. It would be best if you worried at every turn, every curve in the road, every traffic light or stop sign, and every pedestrian you pass. In city driving, this is constant. You need to override FSD frequently.In addition to the question about safety, two critical strategic questions will determine the success of FSD for Tesla. The first is understanding if the problems like the ones I mentioned can be solved by updated software or are due to a fundamental limitation of Tesla's technology approach. The second is deciding if FSD is worth $12,000.Tesla's Autonomous Driving Technology PlatformThere are several alternative approaches to autonomous driving, each using a different technology platform. These autonomous driving platforms have different costs and limitations. I go into these in detail in my books on autonomous driving, but I'll try to summarize the two primary ones.Camera-Only Based SystemThe first autonomous driving approach uses a system with cameras to identify what is around the vehicle and where it is within lane markings. This is the approach used by Tesla with eight monochrome cameras of different focal lengths around the vehicle. The way this system works is that the cameras identify what is ahead and around the vehicle. It uses lane markings to position the vehicle on the road. The cameras also identify other vehicles, stationary objects, and pedestrians. The Tesla onboard computer characterizes these objects based on shape, size, and motion. It then determines the vehicle's path, acceleration, and stopping.This autonomous driving approach is used in Tesla's Enhanced Autopilot, as it is in other cars for semi-autonomous highway driving. These work very well on straight highways and roads where there is no need to turn corners. The Mercedes Distronic and GM Super Cruise are similar systems. I've driven with the Mercedes system for thousands of miles in addition to the Tesla, and I found the Mercedes system to be smoother.The big technical question is: Is the camera-only approach sufficient for city and rural driving, where it needs to turn corners, stop at traffic signals, and interact with pedestrians? That is what Tesla is trying to do with FSD.Camera System Combined with High-Definition MapsThe second approach uses a similar camera-based system with other sensors. But, it importantly adds another system with a detailed high-definition map and lidar to precisely position the vehicle within that map.Sample High-Definition Map (FutureCar)HD maps (illustrated in the photo above) provide three primary sets of information. The first is the actual 3D representation of the road and its related features like stop signs, traffic signals, lane markings, crosswalks, curb heights, etc. These features are measured with centimeter-level accuracy. The second interprets what each such sign, light, and marking means. And the third outlines the optimal drive paths the AV can follow smoothly. Sensors on the AV, especially lidar, identify where the AV is in the real world and matches it precisely to the HD map. It can then use the HD map information to guide it.In addition, to the HD map system, these vehicles also have cameras and other sensors to identify all dynamic objects around them, such as vehicles, pedestrians, etc.Pros and cons of the two approachesThe camera-only approach has two significant advantages. It is cheaper and not restricted to areas defined in the HD map. The disadvantage is that it might not work for city and rural autonomous driving, where it needs to turn corners, merge with traffic, and follow traffic signals. So it might not be capable of fully driverless operation.Let's consider some of my experiences with Tesla FSD discussed earlier. Many of these can be improved with software changes but not all of them.For example, the left-hand turn where it could not visually identify that there were three lanes, so it assumed two lanes because it could see cars stopped in those lanes. It then turned into the third lane because it thought it was the correct lane, but there was an oncoming car. The correct lane for the direction it was turning was the next. A system with an HD map would have identified the three lanes and provided the correct turning radius.The examples where the stop sign was not visible to the camera would not have been a problem for the HD map system because it would be identified on the map. FSD just didn't see it in its field of view.The problem of excessive speed on upcoming curves might be able to be addressed with longer-distance cameras but might not be reliable in all cases. The curves would be fully identified with an HD map, and the AV would be instructed to reduce speed as it approaches the curve.These limitations could keep Tesla FSD from being truly driverless and unable to dispatch a Tesla vehicle to drive on its own with no driver to take control. This would limit its value, as we will discuss below.The other approach, the HD map system, can be fully autonomous but only within the mapped area, generally referred to as geofenced. That is why it's the system of choice for what I refer to as sufficiently autonomous driving. An AV can reliably drive from one point to another along a predefined route. The HD map system will be used for fleets autonomously driving specific routes. The fleets will test their AVs on the routes over and over to make sure they function safely.These will be the first three implementations of autonomous driving, with significant launches expected in the next two years:Autonomous Ride-Hailing. Waymo (GOOG) is already operating in Scottsdale, and Cruise (GM) is operational in San Francisco. To better understand this market and technology, see:Advantages GM Cruise Has Over Uber.Autonomous Long-Haul Trucking. See Autonomous Long-Haul Trucking: 3 Pure Play Investment Opportunities.Autonomous Home Delivery.There are several pilot projects around the country, and Nuro is developing a special AV delivery vehicle.How Valuable Is Tesla FSD?So, how valuable is Tesla's Full Self-Drive? Let's look at it in several ways.Elon Musk's two statements at the beginning of this article frame the value: Tesla is worthless without it, and with it, it will provide $12 billion of incremental profit annually. However, sometimes Elon Musk exaggerates things (ask Manchester United). From a practical analysis, neither of these is most likely correct.In Tesla's recent annual meeting (Tesla 8/4/22 Annual Meeting),Elon Musk discussed his view on FSD. He made an important observation that cars today sit idle most of the time, typically used only 12 hours per week. When autonomous, the utility can increase to 50-60 hours per week. The cost is relatively the same. He envisions Tesla vehicles to be fully autonomous through FSD, and those owners will be able to make money by sharing their cars the way Airbnb and Uber work. He believes that assuming this, Tesla will become the most valuable company in the world.However, this assumes that FSD will be completely driverless.Tesla recently cited that it had 100,000 people authorized to use FSD and that they drove 10 million miles last month. This is an interesting data point because that's an average of only 100 miles of FSD per person per month, which equates to a cost of $2-$3 per mile for FSD, depending on how much was paid for FSD. For most people, city driving miles are much lower than highway driving. If FSD is only a convenience feature for a small portion of the driving and not truly driverless, then for many, it's too expensive an option at $12,000. And this assumes that it works sufficiently.So, the most significant value of FSD comes if it is fully driverless and Tesla can create a virtual fleet from customer cars that would be competitive with Cruise, Waymo, Argo, Aurora, Motional, and possibly Apple. This isn't likely in the near future. But maybe there is another alternative.Recommendation For TeslaHowever, there is another way for Tesla to get value from its FSD technology. It doesn't need to (and can't) make the jump to driverless right away. Here's what it could do:Rename this release Limited Self-Driving. In addition to enabling the name FSD to be used for a future release, it would diminish many of the FSD complaints.Keep it as a beta test program for longer -- at least another year. And request feedback more directly from its users.Require the driver to be hands-on and have the system turn control back to the driver immediately in certain situations. An example is when it gets to an intersection with a red traffic signal and is turning right, give control back to the driver with the question \"turn right on red?\" This would enable the driver to decide if it's safe to turn right or not. It would also avoid the risk I mentioned previously of not seeing a no-turn-on-red sign. There are other similar situations such as turning left on an intersection where the line markings are not clear. This could be implemented similar to Enhanced Autopilot where the vehicle asks drivers if they want to initiate lane changes. Put in many of these cases initially, but gradually eliminate them as the software improves.After beta testing, price the Limited Self-Driving feature at $6,000 instead of $12,000. The higher price could be used when true FSD is achieved. This would probably require reducing the Enhanced Autopilot feature price too. It may mean refunding some previously paid fees, but that's not a big deal.This approach would provide a safer way forward for Tesla, even though it's not as dramatic and may not be Elon Musk's style. It would enable Tesla to still get additional revenue/profit from its technology, with probably more customers buying it at $6,000 than at $12,000. It would mean several years of Limited Self-Drive with FSD deferred until the future. Tesla could still be the first to offer driverless fully-autonomous cars at retail in the future. However, most likely it would be well behind Waymo, Cruise, and others with autonomous ride-hailing. It's an issue of strategic priorities, having a feasible core strategic vision.ConclusionThere are several diverse outcomes on the value of FSD.It could have no value if authorities shut it down for safety reasons, and/or it proves to be unsafe with too many accidents. It's possible that this could even have negative value if it damages Tesla's reputation.It could have additional near-term value to Tesla if released as a Limited Self-Driving alternative, along with continued longer-term value if it becomes the first fully autonomous car sold at retail.It could have tremendous value if it becomes fully driverless in the immediate future and competes in the autonomous ride-hailing market. But I think this is a long-shot.Analysts don't seem to value FSD much in their projections, although Tesla does not break out Autopilot or FSD revenue yet. (Note: Elon Musk criticizes analyst forecasts because they don't even drive a Tesla.) ARK Invest puts significant value on FSD with autonomous ride-hailing in its forecasts. Many Tesla fans and retail investors are ecstatic about FSD.In any case, the progress of FSD should be watched closely over the next few months by all Tesla investors.Note: The price for Tesla Inc.’s Full Self-Driving system will rise to $15,000 in North America, Chief Executive Officer Elon Musk tweeted Sunday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":112,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9904929058,"gmtCreate":1659980467178,"gmtModify":1703476573269,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/CS\">$Credit Suisse Group AG(CS)$</a>.","listText":"<a href=\"https://ttm.financial/S/CS\">$Credit Suisse Group AG(CS)$</a>.","text":"$Credit Suisse Group AG(CS)$.","images":[{"img":"https://community-static.tradeup.com/news/6f6b7bf489800ba9b32944cef0b0d839","width":"1080","height":"1959"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9904929058","isVote":1,"tweetType":1,"viewCount":125,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9035383759,"gmtCreate":1647512760642,"gmtModify":1676534239142,"author":{"id":"3584012991081391","authorId":"3584012991081391","name":"bbcall","avatar":"https://community-static.tradeup.com/news/1c56f4943cc5e7391da2d2b566c39b56","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3584012991081391","authorIdStr":"3584012991081391"},"themes":[],"htmlText":"Oklah&nbsp;","listText":"Oklah&nbsp;","text":"Oklah","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9035383759","repostId":"1142399013","repostType":4,"isVote":1,"tweetType":1,"viewCount":73,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}